Word: dollar
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...Japan, foreigners learn soon enough that a one-yen coin floats on water (or beer), a perfect analogy for the last few years of the dollar's strength against Japanese currency. Now, however, the yen is sinking to the bottom of the glass as the dollar has becomes featherweight. On Thursday it slipped to 99.7 yen, the lowest it has been since November 1995. Following suit on Friday, Tokyo stocks plummeted to their lowest levels since August 2005. Just a few months ago, the rate was 113 to the dollar...
...manager, alleges that the company even began keeping two sets of books - one for internal use that described prison deficiencies in telling detail, and a second set that Jones describes as "doctored" for public consumption, to limit bad publicity, litigation or fines that could derail CCA's multimillion-dollar contracts with federal, state or local agencies...
...bribe and that would be the end of it." That may have been a fair assumption, on his part, given the notorious corruption among Argentine customs agents. But among her fellow agents, Telpuk had a reputation for naive honesty. "Once a passenger dropped a huge wad of dollar bills on my counter and didn't notice, I chased after him down the runway waving his money in the air. At the airport they teased me continually after that for being such a goody-good...
...stakes could hardly be higher: With a U.S. recession looming and the dollar at its lowest-ever value against major currencies, oil prices reached a new record high on Thursday, crashing through the $111-a-barrel mark. That's a climb of about 30% in just six months, and this week it sent the prices at U.S. gas pumps soaring to a record national average of $3.27 a gallon...
...even larger problem facing Washington, however, is that as pricey as oil is these days, there's no shortage of customers elsewhere in the world. (There are also plenty of investors pouring billions into oil futures as a hedge against the falling dollar - and so driving up oil prices even more.) The major reason for the current high prices is that OPEC's production has been seriously stretched by the huge increase in demands from booming China and India, as well as from oil-rich countries in the Middle East itself, says Lawrence Eagles, chief economist of the Paris-based...