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...good it did him. On June 5, Rio Tinto told Chinalco that their deal would not go through after all. It would, instead, float a rights issue to raise money needed to pay down a massive debt load, as well as enter into a joint venture with BHP Billiton - the mining giant that last year tried to buy Rio outright. Xiong, in a statement issued by Chinalco, simply said he was "disappointed" at the outcome...

Author: /time Magazine | Title: Another Deal Blown, Where Will China Invest Now? | 6/7/2009 | See Source »

...June 4 report from Fitch Ratings provides another glimmer of stability. The company's measure of credit-card late payments fell in May, after four straight months of record highs. The rate, though, was still 40% higher than a year before, and credit-card charge-offs which happen when a lender gives up on ever being repaid did continue to rise. Fitch analysts have anticipated that eventually one out of every ten dollars in credit-card debt will be written off this way, although the drop in delinquencies may indicate that people are getting a handle on their finances more...

Author: /time Magazine | Title: Consumer Borrowing Is Down, But For How Long? | 6/6/2009 | See Source »

...path to the pulpit has been as colorful as it has been unusual for Alysa Stanton, 45, America's first-ever female African-American rabbi. Stanton, who was born to a Christian family, was formally ordained on June 6, having completed seven years of rabbinical training at Hebrew Union College-Jewish Institute of Religion in Cincinnati. Stanton will now assume her new role as the first nonwhite rabbi of Congregation Bayt Shalom, a 60-family synagogue in Greenville...

Author: /time Magazine | Title: Introducing America's First Black, Female Rabbi | 6/6/2009 | See Source »

...which hundres of protestors blocked one of Melbourne's busiest intersections. The protest was later broken up by police and 18 people were arrested. "The students are frustrated... Whenever they go to the authorities, they believe they are not taken seriously," says FISA president Amit Menghani. On Monday June 1, Prime Minister Kevin Rudd told Federal Parliament that he had spoken with the Indian Prime Minister Manmohan Singh and assured him that Indian students - whose tuition is healthy source of income for Australian universities - are welcome. In a press release, he said a taskforce had been set up which would...

Author: /time Magazine | Title: Racial Attacks Trouble Indian Students in Australia | 6/6/2009 | See Source »

...twice as large. Dressed in green to express support for the moderate challenger Mir-Hossein Mousavi, they chanted back, "Death to this government that lies to its own people!" Scenes like these are emblematic of Iran's main political divide in the run-up to its presidential elections on June...

Author: /time Magazine | Title: Iran's Election: Rallies Reveal a Stark Contrast | 6/6/2009 | See Source »

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