Word: cap
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...about how much credit will cost. "Virtually no other contract in this country allows a business to change the terms of an agreement once a purchase has been made," says Travis Plunkett of the Consumer Federation of America. "That's the main issue." (One Senator suggested an interest-rate cap, but that was shot down...
...offtrack maneuvers that are revving up drama. Talks in London among the teams and authorities in motor sport's blue-ribbon championship ended without agreement Friday, failing to settle an ugly row over plans by the FIA, Formula One's governing body, to impose a voluntary $60 million budget cap on teams next year. Those who accept it will then have greater technical freedom to upgrade their cars beyond the current tight bounds...
While some teams have cheered the idea, others have blown a gasket. Ferrari, the sport's oldest and most illustrious team, this week threatened to quit Formula One unless the plans were parked. On Friday, Team Ferrari filed an injunction in a French court to block the cap. Rivals Renault, Toyota, Red Bull and Torro Rosso all issued similar warnings. "If the regulations for 2010 will not change," read a Ferrari statement, "then Ferrari does not intend to enter cars in the next Formula One world championship." (See the 50 worst cars of all time...
...most dangerous part of the Antarctic ice cap is in the west, where much of the continent lies slightly below sea level. Ice shelves that fringe the land keep the seawater out, but if those should melt, the water would rush in and destabilize the larger sheet, leading to slipping, more melting and the possibility of a catastrophic collapse. Picture New Orleans when the levees overtopped; now picture the flooding going global...
...looks," says Cowie. U.K.-based firms have quit the market at more than twice the rate of overseas businesses in the last 18 months, he says, and the dwindling presence of smaller companies means the firms that remain will be bigger, forcing up the exchange's average market cap. Investors already look set to buy in. The AIM index is still down year-on-year but it's up 30% so far this year, far more than its bigger brother...