Word: lugano
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...Warhol entering a drawing room, pale eyes blinking in that pocked bun of a face, surrounded by his Praetorian Guard of chittering ingenues, is to realize that things do turn out well after all. The right level has been found. New York-not to speak of Rome, Lugano, Paris, Tehran and SkorpiÓs-needed a society portraitist. The empty angel of the '60s has effortlessly become the Boldini of the '70s. The alienation of the artist, of which one heard so much talk a few years ago, no longer exists for Warhol: his ideal society has crystallized...
...that he turned no documents over to the EEC, but Roche officials suspected him and alerted Swiss police. Says a Roche spokesman: "There were grave suspicions against this former employee." Last New Year's Eve as Adams, his wife and three young daughters were crossing the border at Lugano for a holiday visit with Adams' wife's family, Adams was seized on suspicion of breaking Swiss "industrial espionage" laws, which forbid any unauthorized communication of business secrets...
...Lugano, Switzerland, had lost a walloping $79 million because of "unauthorized foreign exchange dealings...
Lloyds, one of London banking's Big Four with assets of more than $1 billion, is in no danger of failing. Indeed, the bank promised to honor all obligations of the Lugano branch so that depositors and creditors will lose nothing...
Meanwhile, the branch manager and money trader, both Swiss, have been suspended and could face criminal charges. Lloyds officials uncovered the losses only after a chance phone call from another banker, curious about the heavy volume of currency trading being done by the small Lugano branch. It appears that the branch officials were seeking to turn a profit-whether for themselves or the bank is not clear-by speculating in Deutsche Mark and dollars without reporting their trades on the books. Apparently, after losing on some initial misguided trades, they wagered more and more of the bank's money...