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...second-largest lender is still making news - though these days it's much less welcome. On August 8, RBS announced it had tumbled to a $1.33 billion loss in the first half of this year - a massive drop from the $9.6 billion profit it recorded in the first six months of 2007, and the bank's first ever loss as a publicly traded company. Behind the change of fortune: some $11.3 billion of its own write-downs on assets linked to the collapsed sub-prime market. RBS CEO Fred Goodwin said he was both "numbed ... and galvanized" by the loss...

Author: /time Magazine | Title: The Credit Crisis Spreads to Europe | 8/11/2008 | See Source »

...part, Anderson claimed that he'd been kidnapped at gunpoint (albeit a replica), forced to have sex while chained to the bed (and twice more unchained), and that, despite being six foot four and 240 lbs. (110 kg), had never resisted. "I had made a plan for my release," Anderson testified, "but it wasn't through running away. I was going to cooperate." Even after his ordeal, when McKinney and May drove him back to London and a long lunch in Trafalgar Square, he still cooperated...

Author: /time Magazine | Title: Cloner Dogged by Sex Scandal | 8/11/2008 | See Source »

...sure [if he can], but I wish all the best to him." After the relay performance, Phelps' American fans were more optimistic. "I think he can probably pull it off," said Ethan Paulson of San Diego. "He got one more today." Now he just needs to do it six more times...

Author: /time Magazine | Title: Phelps' Bids for Gold — By a Finger | 8/11/2008 | See Source »

...Chinese led from the start. In the second of six dives, Lin and Huo racked up five perfect 10s in the synchronicity category. Impressive, but not quite as dominating as in the 2007 World Championships when the Chinese pair won gold by 22 points, an almost unheard of margin. The Chinese men's win came a day after their female compatriots, Guo Jingjing and Wu Minxia, nabbed gold in the synchronized 3m springboard event...

Author: /time Magazine | Title: Another Golden Day for China's Divers | 8/11/2008 | See Source »

...China's diving squad is used to ruling the board. Four years ago in Athens, the Chinese won six out of a possible eight diving golds, delivering more victories to their homeland than any other national squad. At this year's World Cup, the Chinese were even more commanding, capturing all but one of the eight golds on offer. (The sole miss came from the men's individual 10m platform event...

Author: /time Magazine | Title: Another Golden Day for China's Divers | 8/11/2008 | See Source »

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