Word: second-largest
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Instead, the Communists now return to their role as the second-largest party in the country -- and the largest Communist Party in the West -- but still the outsider in Italian politics. The Christian Democrats have reasserted some of their lost authority; in Rome, for example, they and their coalition partners took control of the city council after ten years of Communist leadership. As a result, Christian Democratic leaders are showing signs of restlessness at being the country's largest party but only a junior member of the government coalition. Analysts in Italy were asking last week if the Christian Democrats...
...newspaper jargon, the money woes of United Press International are what is known as a running story. Stained by red ink for two decades, the nation's second-largest wire service (800 client newspapers and 3,300 broadcast stations, vs. 1,260 papers and 5,700 stations for the Associated Press) was sold to a group of investors in 1982 for $1. Despite wage and staff cutbacks, U.P.I. remained in delicate health; as payroll checks began bouncing in March, Owners Douglas Ruhe and William Geissler agreed to surrender most of their shares to the company's creditors and employees. Even...
...Japanese markets have been closed to them, even when they offered products superior to those produced locally. That was an annoyance when Japan was struggling to recover economically in the early postwar years. Today, when Japan is on the verge of surpassing the Soviet Union as the world's second-largest economy, its protectionist tendencies seem inappropriate. "Japan is a mature, developed country," says an Administration trade official. "But it still acts like a developing country." The U.S. is not alone in its frustration: < for the past decade, the European Community has been battering at the Japanese government almost...
...Reynolds, the second-largest U.S. cigarette maker, is another frustrat- ed American manufacturer. Japanese policies leave just a minuscule 2% of the country's $11.5 billion tobacco market to foreigners. Says Peter Hoult, Reynolds' vice president of marketing: "Some of the government controls are like a land mine. You never know where they'll show up." Not only do the Japanese slap taxes on imported cigarettes to boost some of their prices 40% above Japanese brands, but they have also laid down a phalanx of other barriers. It was not until 1981, for example, that Japan increased the number...
Meanwhile, Bank of America was trying to clean up its scandal. The banking corporation, the nation's second-largest (assets: $121 billion), has announced that it would have to make a $95 million fourth-quarter write-off to cover the cost of buying back failed securities that the bank had a role in delivering to investors...