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...that hasn't halted the Treasury Department from continuing to dole out billions of dollars to financial firms. The latest installment came two weeks ago, when the Treasury sent nearly $75 million from the Troubled Asset Relief Program (TARP) to five banks. Community Bancshares of Mississippi was the largest recipient, getting $52 million in federal funds. All told, the government has spent nearly $5 billion in rescue funds in the past three months. Many of the recipients have been small banks. (See TIME's special report "The Financial Crisis After One Year...
...Representing the world’s largest emitter of greenhouse gases, Hu took a fateful step in announcing China would cut carbon dioxide emissions by 2020. Several of the measures that Hu unveiled will have a dramatic impact, such as making 15 percent of China’s fuel come from non-fossil sources by that target date, while planting enough trees to cover what the Los Angeles Times calculated to be the entire size of Norway...
...biggest change by far for Morgan Stanley comes from the acquisition of the Salomon Smith Barney brokerage division. The deal, which was announced in January, has boosted the number of brokers at Morgan Stanley to just over 20,000. That makes Morgan the largest brokerage house in the country. Brad Hintz, an analyst at Sanford C. Bernstein & Co., estimates that after the acquisition is complete Morgan will get 42% of its revenue from its brokerage division, up from 20% a year...
Harvard’s once small collection of film stills—movie frames studied by film historians—is slowly ballooning into one of the country’s ten largest, thanks to a gift from a pair of German collectors. Munich-based couple Lothar and Eva Just are now in the process of donating their estimated 800,000-piece collection to the Harvard Film Archive. So far, the HFA has received over 42,600 items in the collection, which will take an estimated five years to arrive and catalog, according to Film Conservator Elizabeth Coffey...
...final partnership is of significance far beyond Germany's borders. Under a black-and-gold government, Germany - the world's fourth-largest economy and second-biggest exporter - could embark on pro-market reforms and an overhaul of its tax, business and employment laws. Black and red means a continuation of the careful (some would say overcautious) politics of the past four years. Whatever the outcome, this election will be more interesting to watch than many in years past, if only to find out which colors will be en vogue this fall in Berlin...