Word: germanics
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...south's champions in the conclave will be many, some with formidable credentials. Rodríguez Maradiaga did not just hang with Bono. Calling debt "a tombstone pressing down on us," he presented a 17 million--signature petition for debt relief at a G-8 meeting, and he has bent German Chancellor Gerhard Schröder's ear on the topic. In the 1980s, Brazil's CLAUDIO CARDINAL HUMMES backed strikes and defied his country's dictators by letting leftist labor leader Luis Inacio Lula da Silva (now Brazil's President) make speeches during Mass. He has spoken out in favor...
...Sweden - turned up to argue against Marks & Spencer. Only the European Commission backed the firm. Germany could be one of the biggest losers. Isabelle Kronawitter, an economist at HVB Bank in Munich, calculates that if the court upholds the decision and makes it retroactive, it could cost the German government as much as j30 billion. That's a whopping 1.5% of Germany's gross domestic product, an amount that Berlin can ill afford at a time of squeezed budgets. At the Luxembourg hearing, the German government argued that the court should take into account the potentially huge budgetary repercussions...
...believe that a single E.U.-wide company tax base is, in the long term, the best response to the current challenges in the corporate tax field." Laszlo Kovacs, a Hungarian who is the new E.U. Tax Commissioner, has yet to outline his policy approach, although he did tell a German interviewer last year that his ambition was for the E.U. "to work toward a harmonized corporate tax base." He'll encounter strong political opposition. "The idea of a European corporate tax system is not popular," says Linklaters' Hardwick. But if the E.C.J. continues to make tough rulings that demand similar...
...governments, the firm long failed to control its labor relations or its costs, and the quality of its cars was so uneven that they became the butt of national jokes. There was a glimmer of hope in the 1990s, when the firm was acquired and run by BMW. The German luxury automaker invested in a new premium model, the 75, but it didn't sell well. Jay Nagley, managing director of British consultants Spyder Automotive, says it was beautifully engineered, "but too Old World. It was a German engineer's idea of Britishness." In 1999, its last year under...
...have other carmakers. Overall, conditions are tough, though. The industry is plagued by overcapacity and price wars. PriceWaterhouse- Coopers estimates that, despite growing demand from emerging markets such as China, manufacturers have the capacity to build about 20 million more cars annually than they currently produce. But Mercedes' German rivals in the luxury class, BMW and Audi, are thriving, as are several mass-volume Japanese manufacturers, including Nissan. And Renault, for one, is a prime example of an automaker that's reinvented itself. It took years for the formerly state- owned French company to shake off a reputation for shoddy...