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...million of exposure to risky mortgage-linked securities, and nonperforming loans are at an all-time low. Still, Korea has been exposed to the global crisis because its banks rely on more foreign financing than others in Asia. To some, the recent upheaval in Korean markets was eerily similar to the country's financial crisis in 1997. Back then, Korean banks also had trouble refinancing borrowings from jittery foreign banks, creating a shortage of dollars that required an IMF bailout. However, Tan of Standard & Poor's says that current conditions are vastly different than those of 10 years...

Author: /time Magazine | Title: Asian Nations Step Up Support as Crisis Rolls On | 10/20/2008 | See Source »

Citibank, the consumer and corporate banking arm of Citigroup, terminated its custom loan program with international graduate students at Harvard earlier this month, according to University officials. The bank is also canceling similar agreements with international students at schools including MIT and the University of Michigan, financial aid officers at those schools said...

Author: By June Q. Wu, CRIMSON STAFF WRITER | Title: Citi Loan Program Ends Nationwide | 10/20/2008 | See Source »

...California passed a law last month requiring all chain restaurants with more than 20 locations to post calorie counts on menus by 2011. New York City has had a similar law in effect since the end of spring. Many Starbucks locations nationwide have already begun labeling their menus, and Yum! Brands—the owner of KFC and Pizza Hut—has announced it will put calorie counts in the overhead menus at all of its restaurants. Harvard may be able to shelter its students from much of the outside world, but since calorie counts will be a part...

Author: By Adam R. Gold | Title: Bring Back Nutrition Facts | 10/19/2008 | See Source »

...Among other things, the flap underscores the difficulty of gleaning the truth from communist- era archives. Police files similar to the one in which this document was found exist in most post-communist countries in eastern Europe. And such celebrated opponents of communism as former Czech President Vaclav Havel and Polish dissident journalist Adam Michnik have argued strenuously against their contents being divulged to the public, for fear that the information will be misinterpreted, used for political gain, or to carry out personal vendettas. Skeptics also point out that the communist-era police frequently forged documents to embarrass state enemies...

Author: /time Magazine | Title: Was Milan Kundera a Communist Snitch? | 10/18/2008 | See Source »

...Bananas are hardly the first fad diet to create shortages in Japan's consumer markets. During the 1970s, there were similar runs on black tea fungus, oolong tea and konnyaku; during the 1980s it was baby formula, banana and boiled egg; then, in the '90s, came apple, nata de coco, cocoa and chili pepper; and during this decade black vinegar, carrot juice, soy milk, beer yeast and toasted soybean flour (kinako). Last year's fermented soybean (natto) diet emptied supermarket shelves. Based on experience, Horiuchi predicts that the banana boom will last only another month or so. "In the past...

Author: /time Magazine | Title: Japan Goes Bananas for a New Diet | 10/17/2008 | See Source »

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