Word: firm
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...what could be one of the biggest inside frauds in banking history, French futures trader Jérome Kerviel, 31, effectively created his own trading firm within the bank's market rooms, according to Société Générale CEO Daniel Bouton. "He succeeded in building this hidden firm, in building his positions by hiding them by other positions that were totally fictional," Bouton told reporters at a Paris news conference on Thursday. "That is what is so extraordinary about this case." Bouton's offer to resign was rejected by the bank's administrators this week...
...transforming the emerging field of genetics. In 1992 he secured private funding and created his own company, the Institute for Genomic Research in Rockville. Within three years he completed the first-ever genome sequencing of an entire organism-Haemophilus influenzae, the bacterium that causes meningitis. The firm soon became a go-to place for sequencing projects, and it wasn't long before Venter hungered for the biggest prize in biology: the map of the human genome. In the 1990s such a project was almost unthinkable, a feat of mind-numbing complexity that involved determining the placement and makeup of every...
...buying end, you might have some luck. That's especially true in light of interest-rate cuts; the average 30-year mortgage now goes for 5.57%, according to Bankrate.com near historic lows. Mark Johannessen, managing director at the asset-management firm Harris SBSB, says to consider refinancing if you can save more than half a point. And if you're in an ARM, think about moving to a fixed-rate for peace of mind in an economically uncertain time...
...making tiny loans to poor people can be profitable, says we should go further. In CREATING A WORLD WITHOUT POVERTY: SOCIAL BUSINESS AND THE FUTURE OF CAPITALISM, he sketches out a new type of company, one that exists only to better people's lives. Investors who start such a firm would be repaid their initial stake once the company turned a profit, but after that, all the money made would go back into the business of helping people...
...million. The idea behind Masdar - which organized the Future Energy Summit - is a radical one: prepare Abu Dhabi and the UAE to move beyond fossil fuels. "The UAE wants to be more than just an oil-producing country," says Marc Stuart, the co-founder of the carbon-trading firm EcoSecurities...