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...This year's event was the most expensive in Eurovision's history, with Russia forking over an estimated $35 million to stage it. In return, locals were privy to some camptastic performances. In a delightful English-as-a-second-language moment, Romania's Elena Gheorghe, the daughter of a priest, sang that her "hips are ready to glow, this record is so hot and I have so much to show." American burlesque star Dita von Teese stripped down to a black bustier to play the title role of Germany's entry, "Miss Kiss Kiss Bang"; she had originally hoped...

Author: /time Magazine | Title: How the West Won: Norway Takes the Crown at Eurovision | 5/18/2009 | See Source »

...plans to do them again. One problem with regularly repeating the tests is that they are expensive and time-consuming. The current one took 150 bank examiners six weeks to complete. Bert Ely, a bank-industry consultant, says bank executives don't want the stress tests to return. While Ely says he does believe the stress tests have influenced how regulators will view banks in the future, he's not sure he sees the point in them. "This is the government trying to steer business away from the weaker banks," says...

Author: /time Magazine | Title: Is It Time to Plan Another Round of Stress Tests? | 5/18/2009 | See Source »

...companies are trying to find the triggers they have to pull on in order to make people feel comfortable about spending money. The best example of that was Hyundai, which said you can return your car within a year if you lose your job and get a refund. That's a major change you will see in marketing. And then you will see companies start to build the very functional, practical dimensions of their brands. If you take Louis Vuitton as an example, they will say, "In the future, when you buy a Louis Vuitton bag, it's not just...

Author: /time Magazine | Title: How Shoppers Make Decisions in a Recession | 5/18/2009 | See Source »

...reason: demand is recovering, slightly, for some raw materials. In the case of oil, supplies have been reduced by OPEC cutbacks. And commodities traders are bidding up market prices in general on expectations that supply shortages will return with just a modest improvement in demand. That's because miners, farmers and oil drillers, hit by the credit crunch, can't finance investments that would increase their production capacity. Many won't invest today even if they have access to financing because depressed prices make projects uneconomic. The amount of investment in the oil sector, for example, will likely...

Author: /time Magazine | Title: Commodities Conundrum | 5/18/2009 | See Source »

...types of commodities will react differently as the global economy improves, based on their own specific supply-and-demand conditions. This makes timing a turnaround complicated. Rogers says he expects commodities prices to be among the first to rise, out of all asset classes, when economic growth begins to return. Other experts argue against a rapid rebound, because inventories are high for commodities such as oil, and because demand for natural resources has been so thoroughly squelched in some industries that it may not fully recover any time soon. Francisco Blanch, head of commodities research for Merrill Lynch in London...

Author: /time Magazine | Title: Commodities Conundrum | 5/18/2009 | See Source »

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