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Merck investors may take comfort in the fact that jackpot jury awards are often reduced on appeal. Texas law caps punitive damages, and the final award probably won't exceed $26.1 million. Merck not only plans to appeal in Texas but also has vowed to continue fighting each Vioxx claim individually. Ailing as it is, the firm is expected to generate $3.5 billion in cash this year. In other words, Merck isn't going bankrupt tomorrow. Which is just what the trial lawyers like to hear. --By Daren Fonda
...declaring the end of fossil fuels, and solar-panel proponents are wary not to repeat the unfulfilled promises of the past. Solar power accounts for less than 1% of the world's energy production, and even the rosiest forecasts predict that number won't exceed 10% by 2030. Still, the industry has got its jump start. "This is ultimately a hopeful business," says Kiyama. "And that makes it a good business...
...Still, this initial yuan adjustment will do very little in itself to address China's yawning trade gap. Merrill Lynch predicts that China's trade surplus could exceed $90 billion this year?nearly three times larger than in 2004. U.S. critics of China will likely keep agitating for a full float of the yuan?mean-ing that it would trade at whatever exchange rate the market determines. "We expect more," said U.S. Senator Charles Schumer, one of the sponsors of the bill that would impose a punitively high tariff on Chinese imports...
...financial cost, too. The government spent $3 billion building and upgrading 36 venues for the Games and another $8 billion on infrastructure and security. Organizers dished out $2.4 billion on operations and in May said they had turned a $9.2 million profit. All told, spending on the Athens Games exceeded the gdps of more than 100 nations, including Jamaica and Malta. Thanks to its profligacy, Greece now has a 6% budget deficit, in breach of the European Union's stability pact, and its economic growth is projected to slow from 4.2% in 2004 to 2.8% in 2005. "The fact that...
...price is high for states that violate the speed limit. If more than 50% of a state's drivers exceed the 55-m.p.h. limit, the U.S. Department of Transportation can withhold up to 10% of that state's federal highway funds. The department monitors compliance electronically with subterranean sensors. For two years Arizona has not been in compliance, and stands to lose $5 million worth of highway funds so far; Vermont and Maryland have also failed to meet compliance standards, but are contesting federal methods for compiling speeding data...