Word: steels
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...companies. If completed the deal would be the biggest foreign purchase any Chinese company has ever made. China Minmetals, another state-owned firm, said it would pay $1.7 billion in cash for Australia-based Oz Minerals, the world's second largest zinc miner. On Feb. 23, Hunan Valin Iron & Steel Group of China purchased a $771 million stake in Australian iron-ore exporter Fortescue Metals Group...
...some are worried that control of vital resources is being handed over to the Chinese. Chinalco is a huge consumer of iron ore, and mining companies fear that the investment in Rio Tinto could give China more influence over the price of iron in global commodities markets. Every year, steel and aluminum producers worldwide dicker with the big raw-material producers over new contracts. During the boom years, when Chinese companies' appetite for virtually every metal was voracious, they got stuck with stiff price increases. But the deal could give Chinalco, which already owns 9.3% of Rio, additional stakes...
...soaring exports - is over. Industrial production has plunged. Even Embraer, the aircraft maker whose jets sell to scores of airlines, and which has become a symbol of Brazil's newfound confidence, recently announced plans to lay off 4,000 employees, almost one-fifth of its workforce. Commodity exports - soybeans, steel - are weak. The main stock market is down 25% since September. But Lula, a former shoe-shine boy who heads the leftist Workers Party (PT), has so far kept the good times from becoming a hellish bust. In Brazil, that's nothing short of miraculous...
...only a group of Crawford High seniors off to celebrate prom night in nearby Waco. North of town, the pasture dubbed Camp Casey in honor of Sheehan's fallen son is deserted; Christmas wreaths shaped like peace signs still hang on the gate. An 18-ft. (5 m) steel sculpture, Freedom's Angel of Steadfast Love--a gift to the town from a Pennsylvania artist to commemorate 9/11--stands in an empty lot where pro-Bush supporters gathered. The locals have taken to decorating it for certain holidays and other occasions: red, white and blue banners on the Fourth of July...
...would have the gigantic steel cojones to make a movie of Watchmen? Written by Alan Moore, illustrated by Dave Gibbons and colored by John Higgins, the serialized comic book came out in 1986. This was the pre-Internet age - Moore pounded out his scripts on a manual typewriter - when most comics had an afterlife only in the back-issue bins. Yet Watchmen quickly achieved status as the Grail, the Bible, the Citizen Bob Kane of its medium. (TIME canonized it as one of the 100 best novels since 1923.) And it continues to expand its reach. Last fall Gibbons...