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...Take Britain. Just as it did in Ireland and Spain, consumer confidence in the U.K. swelled in recent years on the back of rising housing prices. But in all three countries, red-hot housing markets have suddenly gone cold. With jittery banks slashing the range of available mortgages, and rocketing gas prices nudging inflation to 3.8% - well above the Bank of England's 2% target - demand in Britain's housing market has been choked. House prices fell 1.7% last month, according to Halifax, a major mortgage lender, and a total of 8.8% over the past year. That's hit Britain...

Author: /time Magazine | Title: The Credit Crisis Spreads to Europe | 8/11/2008 | See Source »

...joke here is that the victim, Theodore Ratnoff, is portrayed as a tall and handsome strapping blond, while the real editor of standards, Allan Siegal, was short and heroically rotund.) His body is discovered with a telling item stuck into his chest: a newspaper spike, the symbol of days gone by, when an editor rejecting copy would spike it on a metal spire atop one's desk. The smart-alecky reporter assigned to cover the crime teams up with a dark and attractive (if implausibly aristocratic) female police detective. In their relationship, Darnton skillfully plays with the touchy alliance/competition/mistrust between...

Author: /time Magazine | Title: A Newsroom Murder Mystery | 8/8/2008 | See Source »

...with bowl of Ramen and pork chops. I wash it down with a painfully cloying iced tea. When I have a question in the bill, the employees seem to barely suppress the urge to explode at me. All romantic notions of lingering to sip and chat are gone. I pay my bill and leave, unsettled. What...

Author: By Lingbo Li | Title: Breakfast in Cantonese | 8/8/2008 | See Source »

...Lomong's neutral stance may disappoint some, but given what Lomong has gone through, you can't blame him for just cherishing this moment for what it is - a reward for a very brave man. You can't blame him for staying positive; he's lived through enough negatives in his life. When he was just six, a Sudanese rebel group kidnapped him and 50 others while he was in a church service. "We were praising God," he says. "All of a sudden, soldiers came in and told everyone to lay down." He escaped prison, and ran for three days...

Author: /time Magazine | Title: The Flag Man Stands Down | 8/8/2008 | See Source »

...that's about the same number that checked out the capital in August last year. One Chinese netizen named Ran Zaifei had this to say about the security restrictions: "Originally the Olympic Games were just that: games. But this game has become so heavily guarded that it's really gone over the top," Ran wrote on his blog. "Government officials should do a little self-examination: Why are they so afraid? It's impossible to tell if they're afraid of terrorist organizations or of the public...

Author: /time Magazine | Title: An Olympic-Sized Security Blanket | 8/8/2008 | See Source »

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