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...appreciation of the yen slashes Japan's GDP growth rate by 0.3% to 0.4% points, says Masafumi Yamamoto, head of foreign exchange strategy for Japan at Royal Bank of Scotland. "Yen appreciation is also causing the Nikkei [stock index] plunge," he says. And that's affecting the confidence of Japan's businesses. On Monday, figures of the Bank of Japan's tankan survey, a quarterly survey of business sentiment in Japan, fell to a seven-year low. The tankan figure showed the steepest quarter over quarter decline in 34 years. The economy is expected to decline 0.8% for the fiscal...

Author: /time Magazine | Title: As Yen Strengthens, Japan Cuts Rates | 12/19/2008 | See Source »

...country's first decline in exports in seven years and was a sharp reversal of the double-digit growth rates manufacturers have typically posted in recent years. The drop was "a shock figure," says Ben Simpfendorfer, the Hong Kong-based chief China economist for the Royal Bank of Scotland. "I had expected exports to collapse in the final few months but not to this extent. There really isn't a precedent. It underscores the magnitude of the global slowdown and fact that it's spilling into China...

Author: /time Magazine | Title: China's Exports Unexpectedly Fall | 12/11/2008 | See Source »

Tobacco, for example, is responsible for a third of cancer deaths in North America and Europe. Recent efforts to corral tobacco use by countries such as Scotland and Ireland, which banned smoking in bars, restaurants and public places, have led to significant drops in cigarette use and in hospitalizations for heart attacks. Any changes in the incidence of cancer, which takes longer to develop, may appear in coming years. A wide-ranging cancer prevention program adopted by the European Union in 1985 helped the continent avoid 98,000 cancer deaths...

Author: /time Magazine | Title: Despite US Drop, Cancer Rates Grow Worldwide | 12/9/2008 | See Source »

...heel, sheep's trotters and elder (cow's udder). There were more than 260 tripe shops in regional capital Manchester a century ago, many of which sold faggots, a traditional English dish made from a mixture of pork liver, fatty pork and herbs wrapped in an intestinal membrane. Scotland, of course, is famous for haggis, which is made of the heart, liver and lungs of a sheep or calf, all boiled with oats and seasoning in an animal's stomach. (See pictures of Spain's annual tomato festival...

Author: /time Magazine | Title: Britain's Tongue, Kidney and Brains Boom | 12/9/2008 | See Source »

...Since Briggs and King's discovery, a veritable Noah's Ark of clones has been created, ranging from fish in 1963 to horses in 2003. Dolly's birth, at the Roslin Institute in Scotland, marked the first successful cloning of a mammal from an adult cell, proving that a complete animal could be grown from the DNA contained in cells from just about any part of another...

Author: /time Magazine | Title: Cloning | 11/21/2008 | See Source »

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