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...financial markets in the long term," he says, "although in the near term the process could be painful." Renaissance says it had been in talks for some time and didn't act out of distress. But its move came a few days after the first financial institution fell victim to the crisis, a boutique investment bank and brokerage firm called KIT Finance, which defaulted on its debt when the markets shut down; it was rescued by an investment arm of the state energy giant Gazprom. Other erstwhile high-flying financial firms in Russia remain at risk. According to the business...

Author: /time Magazine | Title: Red Tide at the Casino | 9/25/2008 | See Source »

...Kirbati has become a victim of environmental degradation, though it emits little in terms of carbon dioxide, the country has taken strong measures to protect the environment in the face of a paucity of resources and money. This year, Tong’s administration created the world’s largest marine reserve—400,000 square miles in size—that oceanography professor James J. McCarthy, an expert on climate change, called a “remarkable gift to the world...

Author: By Natasha S. Whitney, CRIMSON STAFF WRITER | Title: Kiribati Leader Cites Toll of Climate Change | 9/23/2008 | See Source »

...have to admire Palin's handlers, who have created an image of her as a victim of the media. It allows them to justify Palin's not having a single press conference: she is just protecting herself and her family. How convenient! Janan Weinstein, CRYSTAL LAKE...

Author: /time Magazine | Title: Introducing Sarah Palin | 9/22/2008 | See Source »

...Harvard graduate students were robbed at gunpoint while walking along Cambridge Street near Cambridge Rindge and Latin High School early yesterday morning, according to a community advisory sent out by the Harvard University Police Department. The two victims reported that they were approached by an unknown individual who displayed a handgun and demanded their wallets at approximately 1:20 a.m., according to the advisory. The victims gave up their wallets and a cell phone before the individual fled the area. HUPD officers responded to a call placed by the victims. Neither student was injured during the incident. They described...

Author: By Jamison A. Hill, CRIMSON STAFF WRITER | Title: Graduate Students Robbed at Gunpoint—Latest in String of Area Muggings | 9/21/2008 | See Source »

...last December's party leadership conference, Saturday's move to accelerate Mbeki's ouster has raised fears of growing instability in Africa's largest economy, with bitter divisions within the ANC likely to grow more rancorous. While Zuma's supporters have long claimed that their leader is the victim of a political conspiracy orchestrated by Mbeki, on Saturday it was Mbeki's supporters who decried the party's harsh treatment of the departing leader. "This has been a brutal internal coup, almost," Mbeki biographer William Gumede told a South African radio station...

Author: /time Magazine | Title: Why South Africa's Mbeki Resigned | 9/20/2008 | See Source »

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