Word: multibillions
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...expense on trains and trucks. For years Beijing has lobbied its former communist brother for a pipeline to refineries in Daqing. During a visit to Moscow last month, Premier Wen Jiabao repeated China's entreaties but received no promises. Meanwhile, Japan has offered to pay for part of the multibillion-dollar pipeline--as long as it terminates in the Russian port of Nakhodka, near Japan. Moscow seems inclined to take Japan's offer. "China feels betrayed," says Bernard Cole, an expert on China's oil needs at the National War College...
...just-finished gas pipeline--running 2,730 miles from the western deserts to Shanghai-- after the firms decided their returns would be too small. A planned oil pipeline covering the same distance has seen no takers. Then, last month, Shell and Unocal backed out of a multibillion-dollar project to tap gas fields under the East China...
What's left to conquer when you've created a multibillion-dollar, universally recognized fashion empire? For designer Ralph Lauren, the final frontier of branding may just be found at the post office--in Jamaica, that is. This week the government of Jamaica will issue a commemorative stamp, above, featuring Lauren, the first American to be so honored. A visitor to the island for more than 20 years, Lauren is a recognized supporter of several local causes. But this is the real stamp of approval...
Consultants, investment bankers and press conference--calling executives like to call them "transforming transactions." Shareholders usually come to think of them as blunders of epic proportions. They are the multibillion-dollar megamergers, like AT&T's purchase of cable powerhouse TCI or AOL's marriage with Time Warner (the parent company of this magazine), that are borne on the winds of "synergy" and often find their roots in the weaknesses of the parties' core operations. The reality is that while small, incremental deals can be a key to success, very few megadeals ever deliver on their much hyped promise...
Meanwhile, PetroChina may dramatically expand its holdings in Sudan as part of a multibillion-dollar restructuring deal with its parent company, China National Petroleum Corp (CNPC...