Word: banking
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...modern way of burying a treasure chest of cash, banking experts say, is to have your own bank that is funded by nameless wire transfers to Switzerland, the Caymans, Liechtenstein. It's still unclear as to whether Madoff had his own bank, but there is always the ever popular method of hidden safes and multiple, anonymously managed safety-deposit boxes loaded with cash, or even better, "bearer bonds," an old-fashioned but effective tool that is as good as cash and can be presented to banks by anyone bearing them - no questions asked. Today they are used frequently in Central...
...after another through the grapevine about neighbors losing jobs or being reassigned to jobs they didn't want. No livelihood seems secure. We are (or were) journalists and college professors, government workers and architects, administrative assistants and teachers, a hairstylist, car salesman, computer technician, library administrator, nurse, social worker, bank employee, crop scientist, graphic designer and small-business owner. And suddenly we seem divided into two equally nervous camps: the overworked company employees and the underworked, often newly self-employed, scrambling to find customers or a new career...
With Japan's recession deepening, the country's central bank could intervene in currency markets for the first time since 2004, in a bid to prevent further appreciation of the yen - a rise that is hammering Japan's export-driven businesses...
...year high against the U.S. dollar last month. While the Japanese currency has weakened somewhat recently, Bank of Japan governor Masaaki Shirakawa said Sunday that currency-market intervention was possible if the yen's rise resumes. "The strong yen at a time of rapid decline in the global economy has a big negative impact on our economy in the short term," Shirakawa said. (See pictures of Japan and the world...
...would suffer its first annual operating loss in the company's 70 years. The carmaker also plans to suspend production at all 12 of its Japanese factories for 11 days in February because consumers worldwide aren't buying. Masafumi Yamamoto, head of foreign-exchange strategy for Japan at Royal Bank of Scotland, says a 10% appreciation of the yen slashes the GDP growth rate by 0.3 to 0.4 percentage points...