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While much of Wall Street and the rest of the financial sector are finally seeing some sun, the storm clouds around Citigroup just don't seem to be breaking. The company said on July 17 that it earned $3.4 billion in its second quarter. It was the second quarter in a row that Citi had announced a profit, after many critics said the company was done for. In a press release, Citigroup CEO Vikram Pandit triumphantly said, "Our financial results today reflect the incredibly dedicated efforts of all of our people around the world and their success in implementing...

Author: /time Magazine | Title: Can Citi Ever Turn It Around? | 7/23/2009 | See Source »

...Roman forum with a friend who had just arrived from Paris. It was hot and he was disgruntled. Nothing was labeled in a helpful manner (a few bronze plaques here and there, some in Latin) and it was difficult to distinguish between the various structures. I stood in the sun and read to him from a guidebook, pleading with him to use his imagination...

Author: By Sofia E. Groopman | Title: In Defense of Ruins | 7/23/2009 | See Source »

...times have changed. In the throes of huge budget cuts, California is wooing cash-flush mainland Chinese tourists to its sun-kissed coastline and world-famous theme parks. So far this year, the state's Travel and Tourism Commission has opened offices in three Chinese cities. In 2005, Governor Arnold Schwarzenegger toured China on a six-day trade mission to peddle his state's produce, technology and raw materials. China is now California's fourth largest export market, after Mexico, Canada and Japan. In 2008 California exported $10.9 billion worth of goods to China, up 40% since...

Author: /time Magazine | Title: California Apologizes to Chinese Americans | 7/22/2009 | See Source »

...this is Sarawak, Malaysia - not Missouri. Belaga's Main Bazaar is a row of careworn early 20th century Chinese shophouses. Between the stores and the town's stone jetty stands a giant wooden hornbill, perched on a carved totem pole, missing a wing, paint peeling on its sun-bleached casque. From the kampung a couple of blocks away floats a muezzin's soulful maghrib, mingling in the twilight with the putter of Yamaha motors on the longboats crawling their way up the Batang Rajang, Malaysia's longest river. For hundreds of years, this was one of Sarawak's most vital...

Author: /time Magazine | Title: Ebb and Flow in Borneo | 7/15/2009 | See Source »

...riverfront café on my last night in town. He points to a weathered chieftain's tomb on the opposite bank, a wooden blur amid ferns and rubber and durian trees. The family hasn't maintained it for years, and restoration is unlikely. It's getting darker as the sun dips below Jayong mountain to the west. Soon the day will be gone, and soon so will the tomb and men like Kojan...

Author: /time Magazine | Title: Ebb and Flow in Borneo | 7/15/2009 | See Source »

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