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...That was made clear on Nov. 25 when the city-state of Dubai shocked the global investment community by asking creditors of its main corporate arm, ports-and-property conglomerate Dubai World, for a six-month payment standstill on its almost $60 billion of liabilities. The surprise hit stock markets in Asia and the U.S., while sending investors scrambling for safe havens like the U.S. dollar. Experts have since engaged in a rabid round of speculation over what the Dubai debt crisis might mean for the world economy. Some see the problem as little more than a big real estate...

Author: /time Magazine | Title: The Lesson of Dubai: The Crisis Is Not Over | 11/30/2009 | See Source »

...heaviest online spending day so far in 2009 and up 11% from Black Friday 2008. PayPal said it saw a 20% increase in the amount of money people spent using PayPal to purchase items this Black Friday from last year and a 140% spike in the volume of payments made by mobile phones. The mobile-phone transaction increase indicates that buyers shopping at brick-and-mortar sites were likely price-checking items with their mobile phones and then purchasing the item where they found it the cheapest...

Author: /time Magazine | Title: After Black Friday, Doubts Grow About a Shopping Uptick | 11/30/2009 | See Source »

...movies were football teams squaring off for a big game, New Moon would not have covered the spread against that dogged underdog, The Blind Side. The inspirational sports drama, made for just $29 million, earned a stalwart $41 million in three days and $57.5 million in five. Whereas New Moon's revenue fell 70% from last weekend's neck-swiveling $142.8 million take, The Blind Side's tally increased about 18% in its second weekend. Word of mouth has been great - CinemaScore's poll of exiting moviegoers gave it a gold-star A+ - and Sandra Bullock's recently burnished star...

Author: /time Magazine | Title: Box Office: New Moon Takes a Hit on The Blind Side | 11/29/2009 | See Source »

...sludge has huge implications for the area and Guatemala. The towns around Atitlan have become reliant on tourism. Scores of restaurants and hotels have opened. Generations of boatmen made a living by shuttling visitors across the lake. And armies of three-wheeled taxis, known as tuk-tuks, were imported from Asia to help move tourists around. Business is down significantly this year. Hotels say they have about half as many guests as usual. Tuktuk drivers report they barely make enough to pay for gas. Restaurant owners are considering giving up. The global recession may be a major factor...

Author: /time Magazine | Title: How Guatemala's Most Beautiful Lake Turned Ugly | 11/29/2009 | See Source »

...choir was singing hymns in a lively Evangelical mass. When the parishioners finally paused from their verses, they thanked God that the device had caused no injuries - and had hardly even damaged the BMW car belonging to one of the faithful, under which it was placed. The bomb, made of a tiny amount of C4 plastic explosive, was designed to scare rather than scar, police said - like dozens of similar bombs that have detonated across Honduras as the nation prepares to vote on Sunday in the first election since its President Manuel Zelaya was forced out in a military coup...

Author: /time Magazine | Title: Zelaya Blasts Election as Hondurans Vote | 11/28/2009 | See Source »

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