11.   But consumers now are turning from minivans in favor of sport-utilities, and this is a major problem for automakers that have invested billions in minivan development.

12.   But earlier this year Britain started operations at a huge reprocessing installation in which it and Japan had invested billions.

13.   But the government is investing billions to draw more, including a project to build two giant artificial islands in the Persian Gulf shaped like palm trees.

14.   Cable companies in the United States have invested billions of dollars in laying the groundwork for sophisticated interactive networks.

15.   Emerging markets such as Brazil and Thailand, in which global automakers have invested billions, are stumbling into recessions or worse, however.

16.   Europeans and Japanese have invested billions in the development of a television technology for the future that promises razor-sharp images and brilliant colour.

17.   Faced with the need to invest billions of dollars over many years, few companies would be willing to enter the fray.

18.   Hilton, Holiday Inn, ITT Sheraton and Inter-Continental, which is a unit of Seiyu Ltd., are investing billions of dollars in hotel construction.

19.   His privately held company has invested billions of dollars in digital TV, much of it by buying rights to Hollywood movies.

20.   In addition, the winners themselves are expected to invest billions of dollars in the fields.