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...Teams Association (FOTA) announced that eight of its biggest teams, including Ferrari, McLaren, Renault, Toyota, BMW Sauber and current competition leader Brawn GP, plan to set up a rival championship for the 2010 season. They say the rule changes proposed by Mosley would create an unsatisfying two-tier competition by setting different engineering rules for teams that accept the cap and those that don't, and that the spending cap would hinder innovation. A series of recent changes in the rules governing design have also annoyed the teams, which complain that the constant changes to regulations makes it harder...

Author: /time Magazine | Title: Are the Wheels Coming Off of Formula One? | 6/20/2009 | See Source »

...return, Fiat gets access to Chrysler's new V6, which could open up new upper-tier segments in Europe. Fiat doesn't have a competitive...

Author: /time Magazine | Title: What Fiat Could Do for Chrysler (and Vice Versa) | 6/19/2009 | See Source »

...Trafficking in Persons Report 2009, released on Tuesday, gave India a Tier 2 rating for the sixth consecutive year, citing that India has not been able to suppress human trafficking, "particularly bonded labor." According to a 2001 census, an estimated 185, 595 children are employed as domestic help and in small roadside eateries, a number that is believed to have grown today. Most child domestic workers in India are trafficked by placement agencies operating in poor states like Orissa, Jharkhand, Uttar Pradesh and Bihar. The agencies pay families in advance for their children and then place them at jobs...

Author: /time Magazine | Title: India Under Pressure to Do More to Stop Child Labor | 6/19/2009 | See Source »

...study, which has been published annually since 2000, doubles as a progress report on governments' efforts to enforce laws against trafficking and ranks countries based on their commitment to tackling the issue. The report divides participating countries into three tiers according to an assessment of the extent to which their governments prosecute, prevent and protect victims from trafficking. (Tier 1 countries show the most effort in combatting trafficking, while Tier 3 countries show the least.) Tier 3 countries that do not comply with the minimum standards face sanctions. Unsurprisingly, developed nations in the 2009 report dominated the top tier, while...

Author: /time Magazine | Title: Human Trafficking Rises in Recession | 6/18/2009 | See Source »

...that amount to the more than $600 million Fifth Third had left from its stock offering, and bingo: Stress test passed - over $1.1 billion in new common equity. The problem is the money Fifth Third paid to preferred shareholders to convert to common equity will also end up depleting Tier 1 capital - a measure of total bank resources, not just common equity - by $365 million...

Author: /time Magazine | Title: Banks Hand in Their Stress-Test Plans Today | 6/8/2009 | See Source »

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