A Faster Method to Change Tempo of a Track?

Say I wanted to change the tempo of a track by a few bpm. Normally I would (if its a fixed tempo track), adjust the tempo and then use the arrow with the clock on it to timestretch each individual piece of audio to fit the new tempo. Is there a way for cubase to do all of this automatically instead of me having to time stretch all of the different audio pieces?

Open the Audio folder.
Select the audio that you want to be time stretched.
Click on the Musical Mode box - all the selected audio should then have a cross.
Click on the Algorithm drop-down box and select a good quality algorithm e.g. élastique Pro - Time.
Click on the Tempo box and type in the original bpm of your track.

All the selected audio should be “crossed” and have the same settings for Algorithm and Tempo.
Close the Pool window.

Change the Project Tempo - either manually or in the Tempo Track.
The audio should then become time stretched to the new tempo.

Thanks for the reply. I have Cubase Elements 6 and I don’t see that algorithm from the drop down box, but I may be doing it wrong. Any more advice?

Sorry - I didn’t notice that you were using Cubase Elements 6.

According to this PDF, Cubase Elements 6 does not have the élastique algorithm.
The pdf mentions that it has real-time time stretching, but I suppose it’s lower quality than élastique.

Does the Audio Pool have the Musical Mode and Tempo columns?