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...fresh money for the beleaguered Italian automaker, which is asking shareholders for a capital increase. It was the latest sign of a policy shift by Deutsche CEO Josef Ackermann. For decades, Deutsche amassed a huge portfolio. But now Ackermann, who has been indicted for alleged breach of trust during Vodafone's 2000 takeover of Mannesmann, is selling; he wants to focus on traditional banking. Deutsche last year unloaded 33.7 billion worth of stock, including its entire 7.2% stake in insurer Munich Re. Fiat insists that Deutsche still supports its restructuring plans, but it's likely the bank will dump...

Author: /time Magazine | Title: Biz Watch | 7/27/2003 | See Source »

judgment call Tony Blair believes "with every fiber of instinct and conviction I have" that he did the right thing in Iraq. But a poll of 3,028 people in Britain, France and Germany shows Europeans don't trust his judgment...

Author: /time Magazine | Title: The Blame Game | 7/27/2003 | See Source »

...Perhaps even worse is the impact on regional cooperation, a critical component in the war on terror that had just begun to flower after years of institutional inertia and international distrust. "Who is going to trust intelligence or anything else with the Filipinos now?" asks Abuza. Evidence has mounted recently that JI is continuing to plan bomb attacks from Thailand to Indonesia. Now the organization's master bombmaker is back, rested and ready to roll. The region might pay in lives for the negligence of one Manila prison...

Author: /time Magazine | Title: Terrorism Released | 7/21/2003 | See Source »

...First, though, the new leadership in Beijing must learn to trust the people of Hong Kong. Those leaders have to understand that since the July 1 mass march, Hong Kong has fundamentally changed. The protests of recent weeks have shown that a remarkably wide spectrum of Hong Kongers do not see the territory as just an "economic city"?as many officials (both mainland and local) and some tycoons in Hong Kong still insist it is, or should be. There's been a politicization of the hitherto apolitical middle and professional classes. Hong Kongers have signaled clearly that they regard...

Author: /time Magazine | Title: System Failure | 7/21/2003 | See Source »

...Today's China is more progressive and responsible than ever before, and very much a part of the international community. While the mainland moves inexorably forward, Beijing cannot permit its showcase city to stagnate or fall behind. What Hong Kong needs from China's leaders is understanding, trust and confidence that the territory knows what's right for itself. Only then will "one country, two systems" be truly implemented in Hong Kong...

Author: /time Magazine | Title: System Failure | 7/21/2003 | See Source »

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