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...sport's representatives will meet in London to discuss how to make the racing more fun and bring back the fans. Ferrari - which spends an estimated $390 million a year to win - and the other big teams, Williams and McLaren, will resist change. But since the Prost team went bust last year, and Orange-sponsored Arrows is likely to follow suit, Formula One has to bite the bullet, now. Archive: Schumy the Great THE BOURSE Insolvency, She Wrote Deutsche Bank paid €667 million for a 40.3% share in Axel Springer, Europe's top publisher, once owned by fallen media...

Author: /time Magazine | Title: Why Putin Has the U.N. over a Barrel | 10/13/2002 | See Source »

...decided. Under such abstemious rules, enlargement is certain to produce losers as well as winners. Currently protected industries like steel, food and telecoms will suffer as national tariffs and subsidies are cut, while small companies may find themselves becoming part of the food chain for foreign invaders - or going bust because they can't afford E.U. safety and environmental standards. Among the biggest losers will be farmers, who have become enlargement's most vocal opponents. They know that products from existing members, heavily subsidized by the Common Agricultural Policy, will swamp them once trade barriers disappear - and that their...

Author: /time Magazine | Title: The EU: Love It Or Leave It | 10/13/2002 | See Source »

...been lookin’ to show off that sexy new mullet?” read the invitation to a “Trash ’n’ Cash” party last weekend. “Or maybe you players are ready to bust out the new ice.” An accompanying graphic featured a pair of black men surrounded by a Mercedes, a bottle of champagne, the words “bling bling,” and stacks of money—the “cash.” Below them...

Author: By Irin Carmon, | Title: Talking Trash | 10/10/2002 | See Source »

...suggesting he was having an affair with a Downing Street caterer. The basis of Major's claim: It was unthinkable he would commit adultery. The cases never went to trial - like most libel actions, they were settled out of court. But both publications incurred debilitating costs. Scallywag eventually went bust; the New Statesman neared bankruptcy after paying over ?200,000 to defend the action. The total bill included ?1,001 in damages to Major, his legal costs and the costs of the distributors and publishers accused of disseminating libel. With Major's past now in the open, there...

Author: /time Magazine | Title: Finally, a Major Scandal | 10/6/2002 | See Source »

What they find is $1,200-to-$1,500 dresses that have a fresh-from-the-womb maturity. Heavily darted, they're '40s-style shapely; they flare at the hem and enhance the bust and waist. Several spring looks are constructed of thin bands of material sewn together horizontally, like belts, that can be adjusted. "I think the idea of self-tailoring is very modern," says Posen. "I want to embrace the creativity of people. Besides, all women fuss with their clothes." His pattern-making skill is almost mathematical, fitting flat geometric shapes to moving form. "My clothes are supportive...

Author: /time Magazine | Title: FASHION: BOY IN VOGUE | 9/30/2002 | See Source »

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