Word: dealing
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Dates: during 1990-1999
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...This deal is really about arming for global warfare in a viciously competitive industry that is filled with giants from Europe to Japan. Citi, for instance, is not ranked among the top 20 banks in the world. And foreign companies, unlike those in the U.S., face relatively few restrictions. In Europe banks and insurance companies have been free to buy each other for a decade. There's even a term for the combination--bancassurance. "It may be a new model for the U.S., but it's not a new model for Europe," Peter Toemin, bank analyst at London...
...deal with Citicorp, whose CEO, John S. Reed, will share the CEO title with Weill, puts tremendous pressure on lawmakers to rewrite largely obsolete U.S. banking laws. Weill insists that he isn't trying to force anything. But members of Congress, who only a week earlier had yet again postponed efforts to dismantle officially the Depression-era Glass-Steagall rules governing banks, are reopening the debate...
...only five major banks in the country fell on hard times, the economy could be crippled. "This is an enormous public-policy issue that needs to be addressed today," warns William Benedetto of the boutique investment- banking firm Benedetto Gartland & Co. He argues that the Citigroup deal is so big that it's dangerous...
...Last week researchers announced that they were halting the study 13 months early. Reason: tamoxifen, they've learned, does indeed prevent breast cancer. It's the first drug ever shown to do so. Said Dr. Harold Varmus, director of the NIH, in announcing the results: "This is a big deal...
More of a big deal than he'd expected, perhaps. Although Varmus and other officials were careful to stress that tamoxifen is a potentially deadly drug with serious risks and unpleasant side effects, that message was all but lost in the initial euphoria. Breast cancer justifiably terrifies American women--so badly that many latched on to the discovery and ignored the downside...