Word: caps
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...Such large-cap global technology players are special cases, however; the European economy overall isn't so dependent on doing business abroad. Economists have a rule of thumb that a one-percentage-point decline in U.S. growth would take something between .2 to .4 points off Europe's growth...
...Behind the scenes, Treasury Secretary Paul O'Neill argued for an even bigger push, telling Bush in a Feb. 27 memo that the main problem with the as-yet-unratified global-warming treaty was that it didn't go far enough. While O'Neill stopped short of endorsing a cap on carbon-dioxide emissions, Bush aides were worried about green creep...
...also have some of the lowest expenses in the business. Putnam Research is run a bit differently from other funds in that family's lineup. The fund draws on Putnam's analysts, who pick their favorite stocks to construct the portfolio. It's one of Putnam's smaller large-cap funds, but its returns have consistently been among the firm's best. These gains don't come that cheap, though. It takes only $500 to get started, but the fund tacks on a 5.75% load...
There are a few ways of doing that: invest in renewable energy sources and "cap and trade" emissions. That is, set ceilings for worldwide greenhouse-gas emission and let nations either sell emission credits if they emit below their allowance or buy credits if they exceed permitted levels. The theory is that the pursuit of greenbacks will fuel greener business. "Whenever you turn a pollution cut into a financial asset," says Joseph Goffman, an attorney at Environmental Defense, "people go out and make lots of pollution cuts...
...struggled to introduce a cap-and-trade system into the Kyoto Protocol, and achieved it by agreeing to a tough, many say impossible, target: bringing emissions 7% below 1990 levels from 2008 to 2012. The irony of the current situation is that the Europeans, reluctant to accept trading at first, have become its champion; Britain next month will become the first country to embark on a national trading system...