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...Class Divisions While upscale businesses have unquestionably benefited from the influx of rich foreigners, it's less clear that their money trickles into the larger economy, helping lift living standards for less-wealthy Londoners. Paul Knox, head of U.K. wealth advisory services at JP Morgan, says rich expats "have tremendous spending power. Interior designers, domestic staff, schooling for their children, bars, restaurants, taxis, and more." On the other hand, "If a rich person brings $1 million into the economy, not all of that $1 million is going to filter into the wider economy," says Jonathan Said, senior economist...

Author: /time Magazine | Title: Ritzy Business | 1/17/2008 | See Source »

...industrial development of the U.S. after the Civil War.) But the job has become too big for one place to handle. Now Nylonkong, that interconnected tripartite city, greases the wheels of trade and development. This is where the great banks - Citigroup and HSBC, Goldman Sachs and JP Morgan - have their headquarters and their key regional offices; this is where ambitious companies go to seek financing or go public. Hong Kong - whose stock market's capitalization jumped almost fourfold in the 10 years from 1996 - has especially been able to benefit from the business of the hundreds of Chinese companies that...

Author: /time Magazine | Title: A Tale Of Three Cities | 1/17/2008 | See Source »

Edward Cole (Nicholson) is a mean old plutocrat, four times divorced, estranged from his daughter, laying down ruthless rules for the hospitals he owns. Far down the money scale, but superior in all others ways, is Carter Chambers (Morgan Freeman), a polymath mechanic, faithful to his wife of 45 years, settled into a lifelong routine of diminished expectations. The only blemish on Carter's record: He smokes. In any movie directed by antitobacco activist Rob Reiner, a cigarette has to be a leading indicator of death...

Author: /time Magazine | Title: Death Myths: The Bucket List and The Savages | 12/26/2007 | See Source »

...winter feel-good movie is concerned, “The Bucket List” does not make any effort towards radical innovation. But between Jack Nicholson’s wryly inappropriate humor and Morgan Freeman’s unmatched gravitas, it entertains. Guided by the sure hand of Rob Reiner, director of classics including “When Harry Met Sally” and “The Princess Bride,” the viewer can leave the theater a little more grateful for the simpler things. Edward Cole, played by Jack Nicholson, and Carter Chambers, played by Morgan Freeman...

Author: By Eric M. Sefton, CRIMSON STAFF WRITER | Title: The Bucket List | 12/14/2007 | See Source »

He’s the president of the Spee Club. He’s one of a handful of Harvard students to get an offer from J.P. Morgan. He’s New York born and bred, and many in his class consider him to be one of the most well-dressed, popular, and talked about people at school. But if you ask Nicholas T. Brown ’08 what he thinks of all this, he considers himself to be somewhat of an “enigma.” “I was with Natasha Alford...

Author: By Peter B. Weston, CRIMSON STAFF WRITER | Title: Nicholas T. Brown | 12/12/2007 | See Source »

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