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...costs in research and development greatly affect sales price, his company is partly protected by having production sites in dollar-zone countries in Asia - providing a pricing hedge when the euro is too high. Multinationals with affiliates in the dollar zone have benefited from the weaker dollar over the past few years. German electronics giant Siemens, for example, generated nearly 45% of its revenue in 2009 in the dollar region. "The bigger the company is, the less traditional export activity it tends to do and the less exposed it is to currency fluctuations," says Siemens spokesman Wolfram Trost. "But when...
...been a long time coming. For much of the past five years, the euro has floated between $1.45 and $1.55, in large part due to U.S. policies aimed at keeping the dollar undervalued so dollar-priced American exports would be more affordable abroad. Debt-spooked markets are now reversing that - something that could over time take the currency closer to the $1.15-to-$1.20 range that experts say is its true value. "The return to a euro-dollar balance of under $1.30 by the end of the year now seems possible," French bank BNP Paribas recently reported. Of course, those...
Wyclef Jean took Harvard by storm during these past few weeks, speaking at a luncheon and receiving an award for his efforts in disaster-relief for Haiti. The Artist of Year left us with both laughs and a stern message: “As the news cameras go down, let’s keep fundraising, sending doctors and helping rebuild the infrastructure of Haiti...
...views about history. In his book “Unguarded Gates,” Graham claims that a “mythistory” was created during the civil rights movement that falsely depicted America as a “nation of immigrants.” He depicts racist past policies, such as the 1924 Immigrant Act that restricted immigration mostly to Northern Europeans, as honest attempts to preserve a “working American nationality.” He praises the American Coalition of Patriotic Societies, which backed the act, but failed to mention that it was indicted...
...past few years have been challenging ones for Harvard, no less than other institutions of higher education, but these challenges present real opportunities for innovation, collaboration, and leadership,” Waxman told the Harvard Gazette. In an interview with The Crimson, he added that he plans on taking his new position “very seriously...