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...this year invested in the Blackstone Group shortly before the big New York City private-equity firm went public. But Blackstone's share price has sunk 38% below its June 2007 listing price of $31, costing CIC more than $1 billion. That pratfall appears to have prompted CIC to rein in its ambitions. Instead of making splashy investments in the U.S. and Europe, the fund is now looking closer to home. It recently bought into Central Huijin Investment Co., a government agency with stakes in several of China's biggest state-run banks and brokerages, and will reportedly plunk...

Author: /time Magazine | Title: Governments Get a SWF Financial Kick | 12/20/2007 | See Source »

...much fanfare in the Blackstone Group, the big New York private-equity firm, right before Blackstone went public. But Blackstone's share price has sunk 35% below its June 2007 listing price of $31, costing CIC more than $1 billion. The pratfall appears to have prompted CIC to rein in its ambitions. Instead of splashy investments in the U.S. and Europe, the fund is now looking closer to home. It recently invested in Central Huijin Investment Co., a government agency with stakes in several of China's biggest state-run banks and brokerages, and will reportedly plunk another $66 billion...

Author: /time Magazine | Title: The Wealth of Nations | 12/6/2007 | See Source »

...market in Florida and are spending based on home equity," says the accountant from nearby Pembroke Pines, Fla. "We have not seen the worst of it yet." In light of these looming troubles, Weinberg, at the mall with his wife and two young kids, says he'd like to rein in spending this holiday season. "But," he adds, "I'm not always in control...

Author: /time Magazine | Title: Bracing for a Recession | 11/29/2007 | See Source »

...output (even defying its OPEC quota) to earn revenue for new drilling projects. But when Chávez and his anti-U.S. agenda took office in February 1999, prices were languishing at about $10 a bbl.--so the former paratroop commander campaigned to revive OPEC, persuading the cartel to rein in production to boost prices. The effort paid off when the 2003 U.S. invasion of Iraq shook oil markets and prices began their awesome ascent. The spike also helped Chávez recover from a reckless and devastating 2002 strike by his opponents inside PDVSA...

Author: /time Magazine | Title: Is Chavez Taking Too Many Oil Risks? | 11/29/2007 | See Source »

...same time, Obama's attacks, and those of Edwards, have given Clinton a license to respond in ways that would otherwise be unseemly for a front runner. "It's time. I have absorbed a lot of attacks for several months now - my opponents have basically had a free rein," Clinton told CBS's Katie Couric in an interview. "After you've been attacked as often as I have from several of my opponents, you can't just absorb it - you have to respond." She has been particularly aggressive in going after Obama on health care, saying that his plan...

Author: /time Magazine | Title: Barack Obama: The Contender | 11/29/2007 | See Source »

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