Mr Blair's biggest mistake was to accept the October 2002 deal, at a weak moment in the run-up to the Iraq war.

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It needs to address where it is weak at the moment relative to others and move quickly to fill in those holes.

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And that would have been something that Musharraf, who is in a weak position at the moment, would have found difficult.

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For a weak dollar is surely the last thing that it needs just at the moment.

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Weak sales growth may not be a big problem for the company at the moment, as it is able to turn out better than expected profits through controlled margins.

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Given recent signs of weak PC sales at both Dell and Hewlett-Packard, the market is feeling ultra-sensitive at the moment to any evidence of slowing demand for chips and semiconductor manufacturing equipment.

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