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...refinancing deal and declared Nauru ?saved from bankruptcy.? But PPB?s Stephen Parbery says the deal, like others before it, is a mirage; the assets will eventually be sold. ?There?s no magic wand,? he says. ?Talk of refinancing flies in the face of economic reality.? A government spokeswoman says talks with HCW ?and several others? are continuing...

Author: /time Magazine | Title: Can Nauru Stay Afloat? | 5/18/2004 | See Source »

...basic-materials and capital-equipment manufacturers-the companies you'd expect to be most despondent about reduced demand from the mainland-are philosophical. China's big appetite resulted in supply shortages and inventory disruptions. A respite from the insatiable dragon will give them an opportunity to reload. Says a spokeswoman for POSCO, Korea's largest steel company, "These constraints will have a short-term negative influence, but long-term, this is actually progress." Likewise, Japan's and Korea's giant electronics conglomerates are sanguine. Toshiba, for example, sold $1.3 billion worth of goods in China last year, so "obviously...

Author: /time Magazine | Title: Time to Cool Down | 5/17/2004 | See Source »

...last year's incoming class matriculated straight from high school--a marked increase from 2000, when that number was less than 5%. At Johnson & Wales in Providence, R.I., the most common age of culinary students has hovered in recent years between 17 and 19, and Meredith Moore, school spokeswoman, boasts that these applicants are coming in with high SAT scores and extracurricular activities that could easily earn them admission to top colleges...

Author: /time Magazine | Title: Food For Thought | 5/17/2004 | See Source »

With sequins on. When Sydney swimwear designer Nicole Zimmermann sent male models down the catwalk last week in jewel-encrusted bathers, the crowd went crazy. "With boys coming out wearing leopard-print trunks, you'll always get attention," said a spokeswoman. To their credit, the boys held their own all week...

Author: /time Magazine | Title: Trousers on the Prowl | 5/12/2004 | See Source »

...Geneva for access to Saddam. The Red Cross, whose officials visited Saddam in a U.S. detention center in Iraq last Tuesday--a day before the fallen dictator's 67th birthday--says it can't help. "Attorneys need to ask the Americans themselves," says Antonella Notari, a Red Cross spokeswoman in Geneva. Neither Rashdan nor Verges has been able to do so. Both have said they distrust Saddam's captors. Another thing the rivals have in common: both hope to focus their defense on U.S. actions in Iraq rather than on the veracity of the charges. "Our strategy is that there...

Author: /time Magazine | Title: Rushing To His Defense | 5/10/2004 | See Source »

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