Word: largest
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Dates: during 1980-1989
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Frustrated in its effort to challenge the U.S. on the surface, Moscow has built the world's largest, and in some ways most advanced, fleet of nuclear- powered submarines. While the undertaking produced such vessels as the titanium-hulled Alfa-class boats, so expensive that only six were built, it also produced newer Soviet sub classes that go faster, travel deeper and carry more weapons than their American rivals. Moscow's Oscar-class attack submarines are the most heavily armed on the seas...
...distinguishes the building from other office blocks in the Japanese capital. Inside, employees toil elbow to elbow in open work areas illuminated by fluorescent lights, and the air is heavy with cigarette smoke. Yet the modest facade masks the nerve center of a powerful financial empire: Nomura Securities, the largest, richest and most profitable securities firm on earth...
...Nomura serves as a central conduit for the trillions of yen pouring out of Japan in search of bigger, better returns. Last year, when Japan had a trade surplus of $96 billion, its net purchases of foreign securities amounted to $88 billion, up from $4 billion in 1980. The largest portion of that outflow used to go into U.S. Treasury securities, but increasingly the Japanese are buying foreign stocks and bonds. They are also acquiring overseas companies and real estate. And no matter what type of play a Japanese investor wants to make, Nomura stands ready to help...
...fastest selling model is the mountain bike, with upright handlebars, a roomy seat and tires like a truck's. "We can't seem to make enough of them," says John Mariotti, president of Huffy Bicycles, the country's largest manufacturer, "or charge high enough prices." Costs range from $150 to $3,000, the latter for a custom-made model. Today 5 million Americans ride mountain bikes, compared with 200,000 in 1983, and the BFA expects the total to climb 70% in 1988. Despite the name, more than two-thirds are used by cyclists bent on surviving the local potholes...
...special report on Japan' s Nomura, the world' s largest securities firm, which has stunned Wall Street with a big deal to get into the merger game...