Word: majorities
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Dates: during 2000-2009
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...year-old corruption probe - the most serious yet concerning a major British firm - focuses on deals secured by BAE to supply aircraft to South Africa and the Czech Republic, frigates to Romania and radar equipment to Tanzania. In negotiating with the company, the SFO has hoped to extract a plea bargain - it's thought that BAE has been mulling a settlement, though it's unclear what, if anything, the firm would consider admitting to. But given the company's statement, it also appears BAE is ready to defend itself in court. (Read: "Court Blasts Blair Government...
...lakes - which earned Udaipur the nickname the "Venice of the East" - have been a major tourist magnet in the past few years, and building places for tourists to sleep has accelerated the problem. With the Oberoi Udaivilas luxury hotel opening in 2000 and the Leela Palace, which opened in April, both just a few feet from the lake, the doors have opened for other shoreline hotel and residential development. "The big guys essentially bought their way past standing lakeshore-encroachment laws," says Razdan. "That created a domino effect. Smaller entrepreneurs with money muscle and political connections asked...
...Banking Corporation, HSBC backed some of city's most important businessmen, including tycoon Li Ka-shing, and remains Hong Kong's No. 1 bank. But for much of the past 20 years, HSBC has expended a lot of its energy striving to be more than an Asian institution. With major acquisitions in the U.K., the U.S. and elsewhere, HSBC grew into one of the world's largest banks, with a truly international footprint. Since 1993, the Hong Kong stalwart has had its global headquarters in London...
...Iran's shipments abroad and as many as 80 banks that handle financial transactions for the country. In January, the U.S. slapped a $350 million fine on Britain's Lloyds TSB Bank for funneling money from Iran and Sudan into U.S. institutions. "The U.S. Treasury Department has been encouraging major firms to be cautious in their dealings with Iran," says Fitzpatrick. "They are informally advising them not to be investing in the Iranian oil and gas sector...
...message seems to be getting across. The French energy giant Total recently failed to bid on a major block in Iran's South Pars field - the world's biggest natural gas field - after spending years eyeing the business. Like other energy companies, it calculated that its Iran business was becoming a problem it could live without...