Originally Posted by jlgrimes
The way Live does this is stretch the imported files to your project tempo. Once its in there there is a parameter that shows the tempo that Live guessed what the file is (which is usually right) and from there you can manually change the tempo if desired.
I know ableton but that's a bit different to what the OP said. The way I got it was that the project tempo automatically changes to suit the tempo of the track but what if you insert more than one loop with different tempos, how would cubase handle this?