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...Last month, when Washington and Ottawa pledged to invest $60 billion in Detroit's biggest car company, Mexico - a partner in NAFTA and an integrated North American auto industry - was conspicuous by its absence at the negotiating table. (See the best cars from the 2009 Detroit Auto Show...
...response to a discount is profound in the human brain. What is less profound is the response to actually owning that object once you get the discount. We strive to get that deal, but we tend to devalue the object after we purchase it. For many things, the biggest charge we get is that transaction itself. Retailers and marketers strive to make us think we are scoring good deals. They make you think that you're special because you've been able to score this deal. But you need to think, really: Why are you so smart that...
...operations. But Oil Minister Hussein Shahristani demanded that oil companies lower their profit expectations, offering to pay them $2 for every barrel pumped in Iraq rather than the $4-a-barrel rate sought by oil executives. Chevron, which had negotiated for a year to develop Iraq's second-biggest field, West Qurna, pulled out of the deal on Tuesday, saying it had not met the company's "standard investment criteria." French giant Total and Spain's Repsol also withdrew after failing to secure a better deal from the Iraqis, leaving Baghdad high and dry. "[The Iraqis] approached this auction with...
...notion that the invasion of Iraq was simply an oil grab took another hit on Tuesday when Baghdad opened the bidding on the rights to develop its massive energy reserves. In a day-long auction of eight huge oil fields - some of the world's biggest - virtually all the 41 foreign companies invited to bid by the Iraqi government balked at the Baghdad terms. The only contract signed was a 20-year deal for a consortium led by BP and China's National Petroleum Corporation to develop the giant Rumaila field in southern Iraq. "Frankly I did not think...
...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 Britain, backed by France, says the E.U. should take a firmer position on Iran and has called for envoys to be withdrawn.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...