Word: trade
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Dates: during 2000-2009
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These days, you don't have to work on Wall Street to get entangled in an insider-trading scandal - just ask Martha Stewart. The homemaking guru spent five months in prison in 2004 after a series of events triggered by her sale of $228,000 in shares of biomedical firm ImClone Systems, the day before its value plunged 15%. Thanks to a 1997 Supreme Court ruling, even those who lack a connection to a company cannot trade on inside information if they know it is meant to remain confidential. (ImClone was run by Stewart's friend, Sam Waksal.) Ultimately, Stewart...
...work and the record, including my calling on the auto industry to take "bold, serious and visionary" steps on fuel economy and my role in passing 2007's Energy Independence and Security Act, which increased fuel-economy standards 40%. I will continue to fight currency manipulation and unfair trade practices by our foreign competitors, work for affordable health-care coverage and reduce greenhouse-gas emissions 80% by 2050 because I believe those positions are in the best interests of the people of Michigan. John D. Dingell, U.S. Representative, 15TH CONGRESSIONAL DISTRICT, MICHIGAN...
...Japan's banking giant Sumitomo Mitsui, believes the Japanese currency could strengthen to 50 yen to a dollar by 2011 (from around 90 today) due to continued weakness in the U.S. economy. Harvard historian Niall Ferguson says the dollar could slide by as much as 20% on a trade-weighted basis over the next 12 months. The process may be protracted, he argues, but the dollar is dying. In 10 years' time, he said in October, "it won't be such a dollar-dominated world. I'm sure of that." (See 10 big recession surprises...
...China, one of the world's largest holders of dollars, doesn't appear likely to allow its currency, the renminbi, to significantly appreciate against the dollar any time soon, despite increasing political pressure from Washington to do so. China's Commerce Minister, Chen Deming, said at the recent Canton Trade Fair, a major showcase for China's manufacturers, that the "basic stability" of the yuan exchange rate needed to be maintained so exporters can have a predictable business environment. Another source of stability is the difficulty central banks have disposing of dollars they already hold. Dumping dollars on world markets...
...elections as valid," he says. "So at this point, what does it matter which of them is in office when the election is held?" Lobo also knows that as long as the vote is sanctioned by the U.S., from whom Honduras gets the lion's share of its trade and aid, he needn't lose too much sleep over the fact that the rest of the world will probably still refuse to recognize his election if Zelaya is not restored...