Word: largest
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Dates: during 1980-1989
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...help find them, Jaynes pores over vast quantities of newspapers and periodicals, scooping them up wherever he happens to be. At home in Atlanta, he heads for a local bookstore that carries the city's largest assortment of out-of-town publications and buys $80 worth at a time. "The clerk is always happy to have me do it," Jaynes says in characteristic deadpan manner...
Amid the hubbub, some British financiers fret that Big Bang will eventually become a big bust for purely local firms. British investment houses, they note, are badly undercapitalized compared with their American and Japanese rivals. Britain's largest merchant bank, Morgan Grenfell, has a market capitalization of only $988 million, in contrast to Nomura's ($34 billion) or Salomon Brothers' ($6.6 billion). The worry is that unbridled competition will force many more old-line British houses to merge or go out of business. Says Ian Kerr, a British executive with Kidder, Peabody International: "The City of London has handed itself...
...warm-up to deregulation, the London Exchange on March 1 inaugurated Little Bang by inviting foreign firms and British banks onto its trading floors for the first time. The move spurred a wave of foreign invaders seeking to join the action. Tokyo-based Nomura Securities, the world's largest investment firm, and New York City's Merrill Lynch, the biggest U.S. broker, have already become Exchange members. Some 30 others plan to do the same...
...space. Rents are currently spiraling upward at a rate of 11% a year. Last spring the planning authority for the City of London authorized the construction of 20 million sq. ft. in new office space, nearly one-third of the existing total. Just outside the City, one of the largest new financial projects is planned for Canary Wharf, a $4 billion development on the once desolate patch of Thames dockland known as the Isle of Dogs...
...assistance last month in securing for Mexico a $12 billion loan package from the International Monetary Fund. The eleventh-hour breakthrough in the negotiations, helped by Treasury Secretary James Baker and Federal Reserve Chairman Paul Volcker, saved Mexico from defaulting on its nearly $100 billion foreign debt, the largest in Latin America except for Brazil...