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...insurance, and media and telecommunications. Last month, for example, after months of slugging it out for subscribers and advertisers, France's two leading pay-TV satellite channels agreed to merge. The CanalSat-TPS deal would create a broadcasting giant in France worth at least $7 billion. That's modest compared with the year's biggest deals: the $28 billion acquisition last June by Telecom Italia of the 44% stake in mobile phone company Telecom Italia Mobile it didn't already own, and the $22 billion purchase by Italian bank UniCredito of Germany's Bayerische HypoVereinsbank. Other major deals included Pernod...

Author: /time Magazine | Title: It's High Time for Mixing Brands | 12/31/2005 | See Source »

...versus 96% six years ago. But do we compare Russia to developed countries or to a country like China that has the GDP growth of 9%-or oil producers like Azerbaijan with 12%, or Kazakhstan with 19%. This way, we see that Russia's achievement is more than modest. Under oil windfall profits, Russia's GDP should have grown by 15% to 16% in 2005. Once you dismiss the windfall profits, you see a poor quality of the economic policy that has proven negative to the tune of losing some 9% to 10% of the GDP growth...

Author: /time Magazine | Title: Q&A: Putin's Critical Adviser | 12/31/2005 | See Source »

...that had short runs or none at all. Fortunately, there's a crusading archival interest (fomented by the City Centers Encores! series) to put on concert versions of neglected antiques, and a wealth of performing talent to give them life. This year I saw two terrific concert productions: one modest, one large, both grand. The 1968 Darling of the Day had a lovely score, but this adaptation of Arnold Bennett's novel Buried Alive practically was: it closed after just 31 performances. The Musicals in Mufti revival in April captured the show's wit and plaintive warmth, wreathing the audience...

Author: /time Magazine | Title: Best of 2005: Theater | 12/26/2005 | See Source »

...religion as evidence that the court is not unified in its rejection of creationism and other alternatives to evolution. ?Unfortunately, until the Supreme Court adopts a more coherent and historically sound jurisprudence, school districts like Dover will be at risk of costly lawsuits by the ACLU for adopting such modest curriculum changes such as the one at issue,? he wrote...

Author: /time Magazine | Title: 'Breathtaking Inanity': How Intelligent Design Flunked Its Test Case | 12/20/2005 | See Source »

Compared to the aristocratic homes of other U.S. founding fathers, Benjamin Franklin's house at 36 Craven Street in London is downright modest. George Washington inhabited a grand estate at Mount Vernon, Virginia, and Thomas Jefferson built Monticello, an elegant mansion, in the same state. But for 15 years, Franklin was a tenant in a simple four- story Georgian brick row house on a street off the Strand near Trafalgar Square. The house's interior is handsome but spare, reflecting the thrifty nature of the man who popularized the proverb, "A penny saved is a penny earned...

Author: /time Magazine | Title: Franklin Slept Here | 12/18/2005 | See Source »

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