Word: motoring
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...this activity has made the City--the square mile around St. Paul's Cathedral that is the heart of the old financial district, plus the gleaming towers of the new financial district in the docklands area--a powerful motor not just for London but also for British prosperity. In 2007 financial services accounted for 10.1% of the U.K.'s gross domestic product, up from 5.5% in 2001. Add in professional services linked to finance, such as accounting, law and management consulting, and the total rises to 14%. And that's for Britain as a whole. For London, finance has been...
...real estate market had overheated, including the U.K., Ireland and Spain, house prices are expected to continue tumbling. As the rest of the world also slows, exports will be hit - particularly bad news for Germany, which as recently as the first quarter of this year had served as the motor of Europe, thanks to its surging sales of machinery and other capital goods to places like China, Russia and the Middle East. In the last few days, companies ranging from motor manufacturer Deutz to Koenig & Bauer, which makes printing machines, have cut sales projections and warned about weak orders...
...such messianic self-assurance - is not worth filming. Yes, the tragic hero usually comes to realize his crippling flaws, but maybe the greatest sin of a powerful man is in never, ever doubting himself. W. gives Bush a climactic wrinkle of copelessness, but the movie is mostly content to motor on familiar tracks. Like its central character, it seems never to have questioned itself about its mission or even asked if it had one. For this normally crazy-brilliant auteur, the last and lasting...
Cerberus LLC, the New York-based private-equity company that runs Chrysler is prepared to take what is described as a significant stake in any new auto company that may be created by merging General Motor and Chrysler. Many observers had concluded that Cerberus believed it had been burned after buying an 80.1% stake in the struggling No. 3 automaker in 2007. At one point, there was speculation that Cerberus was trying to find a way to unload its ownership in the car company. However, an executive familiar with the talks tells TIME that Cerberus is not preparing to walk...
...Speaking at the Paris Motor Show earlier this month, Carl-Peter Forster, president of GM Europe, said that car sales were falling fast across Europe and that higher gas prices had made the cost of car ownership prohibitive. To own and operate a car in Germany now costs 25.5 % more than it did in 2000, he said, while the consumer price increase has only been 15.6 %. Forster believes carmakers need help from Europe's capitals to turn the situation around. He wants European governments to stimulate the economy, free up credit and restore consumer confidence...