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In other words, improvement means different things to different bank bosses. Mounting bad debt at Lloyds drove it to a $6.8 billion loss in the first half of this year, some distance from the $4.8 billion profit recorded in the same six months of 2008. Northern Rock, nationalized early last...

Author: /time Magazine | Title: For Britain's Banks, Latest Earnings Show an Uneven Recovery | 8/5/2009 | See Source »

In one study published in the journal Science in 2006, a group of scientists reported that they had recorded enormous water turbulence in a fjord in Canada caused by a swarm of swimming krill. These tiny shrimplike organisms have a predictable up-and-down movement: during the day, they descend...

Author: /time Magazine | Title: Churning Ocean Waters, One Jellyfish at a Time | 8/5/2009 | See Source »

U.S. health officials are bracing for a resurgence of the new H1N1/09 flu virus this fall, when the influenza season kicks into high gear with the resurgence of cold weather. By October, the government hopes to have 120 million doses of vaccine ready to fight the new virus, which is...

Author: /time Magazine | Title: Why Are Flu Viruses Seasonal? | 8/5/2009 | See Source »

Plenty of quintessentially 20th century businesses that have been sickening will now, finally, die. A generation or two of managers in those industries coasted along in denial, behaving as if the dark horizon would remain perpetually a ways off. With this recession, many of them are arriving at the abyss...

Author: /time Magazine | Title: The Coming New New Economy | 8/4/2009 | See Source »

"As we saw the economic conditions deteriorating, it became clear to us that we were going to really have to pull in the rein on our expenses," says Ulsh. OBT reluctantly scrapped its live orchestra and a few of its dancers - remaining ballerinas will now pirouette to recorded tunes. "We...

Author: /time Magazine | Title: Arts Groups in Tough Times Think Locally | 7/24/2009 | See Source »

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