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...Tehran's criticism: last weekend, nine British embassy staff were arrested for allegedly playing a role in the street protests, although all but one have since been released. Britain, backed by France, says the E.U. should take a firmer position on Iran and has called for envoys to be withdrawn. But Germany and Italy - Iran's biggest trading partners in the E.U. - argue that lines of communication should be kept intact, especially as Tehran is already reeling under the weight of sanctions. (Read "Has Britain Replaced the U.S. as Iran's 'Little Satan...

Author: /time Magazine | Title: How Should Europe Respond to Iran? | 7/2/2009 | See Source »

...This week, the Spanish bank Banco Santandar agreed to hand over $235 million; it had been liable to pay up to $275 million, the total amount its Optimal funds subsidiary had withdrawn in the 90 days leading up to the December 11, 2008, collapse of Madoff's decades-long crime. Santander, the most exposed of the European banks involved with Madoff, with $3 billion lost, is still facing a class-action lawsuit...

Author: /time Magazine | Title: Irving Picard at Center of Post-Madoff Storm | 5/30/2009 | See Source »

...allege the people running the funds "knew or should have known" Madoff was a fake, simply based on the exorbitant, non-stop returns they received. Suits have been filed against Walter Noel's Fairfield-Greenwich Group, which withdrew $3.2 billion since 1995, Jeffrey Picower's funds, totaling $6.7 billion withdrawn, and against Stanley Chais, whose funds took out over $1 billion since 1995. (See pictures of the global financial crisis...

Author: /time Magazine | Title: Irving Picard at Center of Post-Madoff Storm | 5/30/2009 | See Source »

...born reporter of Iranian and Japanese descent had become a cause celebre back home in America because of her incarceration and sentencing. A former Miss North Dakota, she studied journalism at Northwestern University before moving to Iran six years ago. Before her press credentials were withdrawn in 2006, Saberi had been a freelance reporter for various media outlets, including the BBC World Service, NPR, and Fox News...

Author: /time Magazine | Title: Roxana Saberi: Out of Iranian Prison, Into a Soap Opera | 5/11/2009 | See Source »

...year shows how quickly relatively successful businesses replace failing ones in a marketing system where the bidding for space goes on 24/7 and 365 days a year. If financial services companies are spending 50% less on Google, then some other industries are spending much more. If car firms have withdrawn all of their advertising budgets then companies that provide help to people with too much debt must have stepped up what they spend...

Author: /time Magazine | Title: Google: The Economy in a Tea Cup | 4/17/2009 | See Source »

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