She is 'racing against the clock' to be sure the assignment is handed in on time.
Her mind was 'racing'. [=she had many thoughts going quickly through her mind]
Researchers are 'racing (against time)' to find a cure.
(..) Dialogue: Marked=..,Default,NTP,!Effect,And over there, all your bits and bobs\Nfor doing your wizardry. Dialogue: Marked=..,Default,NTP,!Effect,lt's a world-class racing broom. Dialogue: Marked=..,Default,NTP,!Effect,Look at it! The new Nimbus ! (..)2001 Harry Potter and the Sorcerer's Stone