Word: braziller
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...Paul O'Neill just before a visit to the continent. Even as a parade of U.S. CEOs stood accused of corruption, O'Neill remarked that Washington shouldn't help save the region's debt-choked economies because the money might wind up in Swiss bank accounts. His quip sent Brazil's faltering currency, the real, into free fall...
...Brazil, as the theory goes, too big to fail? We may never know, since whenever Latin America's largest economy gets in trouble, it also gets bailed out. Last year, the International Monetary Fund sent in $15 billion to protect Brazil from the aftershocks of Argentina's economic collapse. Last week, the IMF doubled up, putting together a $30 billion rescue package to both stabilize the troubled Brazilian economy and boost international faith in the rest of Latin America. The IMF hopes the package - its largest-ever in dollar terms - will break Brazil's downward spiral of plummeting currency values...
...giant pandas Mei Xiang and Tian Tian 1,100 giant pandas are left worldwide 22 hours of continuous surgery?by a team of more than 50 specialists in Los Angeles?were required to separate two one-year-old Siamese twins conjoined at the head $30 billion was granted to Brazil by the International Monetary Fund, the agency's largest single loan ever $3.3 billion in additional bogus accounting was uncovered by WorldCom's internal auditors last week, bringing the total to $7.1 billion 44% is how much undergoing regular mammograms can reduce breast cancer deaths, according to a new study...
...much farther afield. Case in point: Spanish companies, which are feeling an ongoing pinch from their investments in the region. As if Argentina's collapse and Uruguay's wobbles were not worrying enough, some of Spain's biggest names are also taking a clobbering because of their exposure to Brazil. Over the past 10 years, Spanish firms have poured more than €50 billion in Brazil - double the amount invested in Argentina - particularly across the telecom, banking and energy sectors. But the Brazilian real has gone into a downward spiral - the currency has lost one-third of its value since...
...Clas-sical Graffiti sells as Batt hopes, the final bill could be €150,000. Both sides might care to ponder Cage's own observation that, "the very practice of music ... is a celebration that we own nothing." THE BOURSE The Steel Deal Anglo-Dutch steelmaker Corus will buy Brazil's CSN in a $4.3 billion stock and debt swap. The deal moves Corus from sixth to fourth place in global steel production. Pfizer Upsizer The race for pharmaceutical consolidation continued apace as Pfizer announced a $60 billion takeover of Pharmacia. The move solidifies Pfizer's top spot...