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...moment of social and cultural pageantry, the visit was a hit. But it carried an anxious subtext. The Great Recession has struck museums and performing-arts groups with a vengeance. No one expects the Federal Government to bail them out. But the people who run these organizations--and the people who care about them--were eager to see in the First Lady's appearances a sign that the White House knows just how bad things have gotten for them...

Author: /time Magazine | Title: Culture Crunch: The Recession and the Arts | 6/8/2009 | See Source »

...peak, I spent a few days in Beijing in the company of a bunch of top business executives from the U.S. and Europe. The occasion was a conference sponsored by my then employer, Fortune, and as I sat through the speeches and panels and dinners, I was repeatedly struck by the almost puppy-like devotion to the Middle Kingdom voiced by Western CEOs...

Author: /time Magazine | Title: The End of the Big Business-China Love Affair | 6/8/2009 | See Source »

...companies here frantically restocking their supplies of copper, iron ore and other commodities used in industrial production. "The biggest driver of discontent [with the Chinalco deal] among Rio shareholders," says Grant Craighead, managing director of Australia-based independent research group Stock Resource, "was that the deal was being struck close to the low point in the current financial crisis. Over recent months the market decided that the worst of the crisis was over, and life's likely to get better. The Chinalco deal went from looking like a win-win to looking a bit cheap," he says...

Author: /time Magazine | Title: Another Deal Blown, Where Will China Invest Now? | 6/7/2009 | See Source »

...first attack on Islamabad since March 23, Pakistan National Day, when a suicide bomber struck the headquarters of the Special Branch - a special police investigative unit - killing a guard who tried to stop the attacker. Law enforcement authorities in the capital have been bracing themselves for militant attacks since the army launched a wide-ranging military operation in the Swat Valley and two neighboring districts in a bid to wipe out the Taliban. Manned entries to the city have been beefed up with increased numbers of policemen searching vehicles, while sentries at all checkpoints lying athwart main roads have been...

Author: /time Magazine | Title: Fears Escalate Over Violence in Islamabad | 6/6/2009 | See Source »

...Intelligence, commonly known as the ISI. At least two dozen people were killed by the blast that caused widespread damage and injured over 300. The Taliban later claimed responsibility. Hakimullah Mehsud, a deputy of notorious Taliban commander Baitullah Mehsud, warned the residents of major cities to flee before they struck again...

Author: /time Magazine | Title: Fears Escalate Over Violence in Islamabad | 6/6/2009 | See Source »

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