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...arcane shareholding or "quota" system, the domination of policy by the U.S. and other developed economies will give way to a more balanced system of governance, under which developing countries such as Brazil, China and Russia will have a greater say. The IMF's focus is supposed to shift, too: the G-20 wants it to play a more active role as global economic cop, monitoring policy among the major advanced economies as well as the poorer ones, and blowing a whistle when it sees dangerous behavior. In theory, the IMF should reflect both the changing global economic order...

Author: /time Magazine | Title: International Monetary Fund 2.0 | 4/20/2009 | See Source »

...gases cause global warming; ergo, those gases are pollutants that must be dealt with. But carbon is so global, so embedded in every aspect of modern life that it needs to be managed by the popularly elected governmental body meant to represent us all: Congress. "This is an enormous shift, and we need to get together as a nation to deal with it," says Maggie Fox, CEO of the Alliance for Climate Protection. "That's what a democracy is about...

Author: /time Magazine | Title: EPA's CO2 Finding: Putting a Gun to Congress's Head | 4/18/2009 | See Source »

...good quarter given the depth of the recession - while revenues were down quarter over quarter, they grew 6% year over year thanks to continued strong query growth. These results underline both the resilience of our business model and the ongoing potential of the web as users and advertisers shift online." What he did not bother to mention is that no business model is any good at all without customers. Google has millions of clients spending money on its search advertising and its financial results are a signal that companies both large and small are not so hard up that they...

Author: /time Magazine | Title: Google: The Economy in a Tea Cup | 4/17/2009 | See Source »

...nice to forget December. Investment banks traditionally end their fiscal year in November, commercial banks in December. Since Goldman Sachs and Morgan Stanley shifted to commercial-bank status late last year, they decided to shift their fiscal years starting this year. In doing so, they orphaned the month of December 2008. For Goldman, it was revealed this week, that meant saying goodbye to $780 million in losses that will never show up on the bottom line of an earnings report...

Author: /time Magazine | Title: Citigroup's Surprising Profit: Is It for Real? | 4/17/2009 | See Source »

...items. The news—which was e-mailed to members of the library system by Jeremy Bloxham, dean of science for the Faculty of Arts and Sciences—came five days before Tuesday’s town hall meeting, where FAS Dean Michael D. Smith unveiled a shift from small cost-reduction measures to a sweeping reevaluation of FAS structure in the face of a $220 million deficit. HCL spokeswoman Beth Brainard said the plans for consolidation were “not associated with the budget.” Even before the financial crisis hit Harvard, library officials...

Author: By Esther I. Yi, CRIMSON STAFF WRITER | Title: Science Libraries Will Face Merger | 4/16/2009 | See Source »

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