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...Nylonkong, that interconnected tripartite city, greases the wheels of trade and development. This is where the great banks - Citigroup and HSBC, Goldman Sachs and JP Morgan - have their headquarters and their key regional offices; this is where ambitious companies go to seek financing or go public. Hong Kong - whose stock market's capitalization jumped almost fourfold in the 10 years from 1996 - has especially been able to benefit from the business of the hundreds of Chinese companies that want to raise money in global markets. Its bankers and brokers are continuing an old story. As they circle the globe - there...

Author: /time Magazine | Title: A Tale Of Three Cities | 1/17/2008 | See Source »

...like a recession in the U.S. The December economic numbers (released in January) have been mostly bad: unemployment up, to 5%; retail sales down 0.4%; industrial production flat. The housing market, where all the trouble started, is still in the tank. Banks are reporting big new losses and layoffs. Stock prices are plummeting. Presidential contenders are starting to focus on the economy on the campaign trail. It's ugly out there...

Author: /time Magazine | Title: The Rites of Recession | 1/17/2008 | See Source »

...wouldn't shave much more than once a week, not even to go on television. He would wear his shirttails untucked with jeans and take time off whenever Linkin Park played a concert. Though he is the campaign manager for Mike Huckabee, a dry Baptist pastor, he would still stock bottles of Maker's Mark bourbon on the candidate's chartered flights...

Author: /time Magazine | Title: The Page | 1/17/2008 | See Source »

...number more than 12,000 in 110 countries outside China, says Graham Allan, president of Yum Restaurants International (YRI). Of those stores, 85% are owned and run by franchisees. Operating profit more than doubled, from $186 million in 1998 to $407 million in 2006. International profits drove the stock price up 82% over 10 years. Yum's largest markets overseas include Australia and the U.K. Pizza Hut ranks as the most trusted food-service brand in India, and Russia will soon greet the Colonel through a partnership with top chicken chain Rostik...

Author: /time Magazine | Title: Kentucky Fried Rice | 1/17/2008 | See Source »

...Thursday morning, the polls showed a slight advantage for McCain, but pollsters were not putting much stock in the numbers. For weeks, opinions in South Carolina have been bouncing around, first with a bump for McCain after New Hampshire, then with a bump for Thompson after last week's debate, and more recently some slippage for McCain after his loss in Michigan. "It's muddy," said David Woodard, who polls the state at Clemson University...

Author: /time Magazine | Title: Getting Tough in South Carolina | 1/17/2008 | See Source »

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