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...while Blessing and Allianz chief executive Michael Dieckmann, 54, celebrated the deal, investors thrashed Commerzbank for paying too much and analysts questioned whether Blessing and his team were up to the task of successfully completing the merger. In light of the ongoing financial crisis, analysts were surprised to learn that Commerzbank values the struggling Dresdner bank at a premium of 1.1 times its current book value. Commerzbank shares fell as much as 12.1% in trading Monday, the biggest decline in the company's stock since October 2002, according to the news agency Bloomberg...

Author: /time Magazine | Title: The German Merger Against the Odds | 9/1/2008 | See Source »

...Mirren, who starred in the television police drama Prime Suspect as Detective Chief Inspector Jane Tennison, said that a rape would occur if a woman, voluntarily engaging in sexual activity, said "no" at the last moment. But, she added, "I don't think she can have a man into court under those circumstances...

Author: /time Magazine | Title: Mirren Criticized Over Rape Remarks | 9/1/2008 | See Source »

Unlike the last time around in 2005, the Sunni tribal elders are eager to contest the polls, and say they wanted U.S. troops to remain in Anbar until after the elections to help ensure a free and fair ballot. They also want their key ally, police chief Major General Tareq Youssef al A'sal al Dulaimi, reinstated to the position he was ousted from just a few days ago. (Dulaimi was removed for unspecified "administrative" reasons.) The Awakening members say Dulaimi's sudden removal, which was approved by the Interior Ministry, has cemented their fears that their local Sunni rivals...

Author: /time Magazine | Title: US Allies Angry at Anbar Handover | 9/1/2008 | See Source »

...Barack Obama laid down an important marker at Invesco Field - and he may have convinced more than a few white working-class skeptics to give him a closer look when the debates roll around. He stood there not as an orator, but as a plausible chief executive. His message was as tight as a power-point presentation, but far more elegant. And tough - above all, tough: not an egghead, not Adlai Stevenson. No, tonight Barack Obama was a politician from the south side of Chicago, ready for the brawl of his life...

Author: /time Magazine | Title: Klein: Obama's Speech 'Very Tough' | 8/29/2008 | See Source »

...annual rains began in June, flooding streets and villages and claiming dozens of lives. But when the Kosi River burst its banks on Aug. 18 in the northeastern state of Bihar, the destruction was much worse than anyone expected. "It is not a normal flood, but a catastrophe," Bihar Chief Minister Nitish Kumar told reporters after flying over the affected areas...

Author: /time Magazine | Title: India's Floods: a Manmade Disaster? | 8/29/2008 | See Source »

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