At the very least, the Pac-12-Big Ten alliance creates an unprecedented viewership and international market that advertisers would likely pay unprecedented dollars, beyond the value of current media contracts.

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Mr. Rasmussen was speaking as he launched NATO's 2012 annual report, which draws attention to three big risks for the 28-nation alliance.

WSJ: For Europe's Defense Establishment, a Moment of Truth on Defense

Just as it frustrated Mr Tremonti's tax-cutting ambitions, it will also frustrate the big-spending aspirations of the National Alliance and the UDC.

ECONOMIST: Renaissance? What renaissance? | The

The big-box stores are backing a coalition called the Alliance for Main Street Fairness, which is leading efforts to change sales-tax laws in more than a dozen states including Texas and California.

WSJ: Large Retailers Push Amazon on Taxes

Many big firms, such as Alliance Boots (a health-and-beauty group) have abandoned public stockmarkets and embraced private equity.

ECONOMIST: Traditional listed firms are facing competition

British Airways and American Airlines have cleared a big hurdle in their two-year-old bid to form an alliance.

ECONOMIST: Joining forces

More big moves: in April, the company formed an alliance with Yahoo Japan to launch a PC-based social game platform called Yahoo Mobage.

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Officials from the Alliance of Automobile Manufactures, the industry group that represents the "Big Three" automakers--Ford Motor, General Motors and Chrysler--were not immediately available for comment Friday.

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What the tobacco wars show is how feeble even the most ruthless big businesses are compared with a newer force in American life: the alliance of citizen activists, public-health officials and trial lawyers.

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