Word: banking
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...proving executives had inside knowledge that motivated their stock deals at the time of transaction. Maréchal says that has often been difficult to do under French law, explaining why there have thus far only been two major insider trading convictions: cases involving canning group Pechiney, and bank Société Général in the late 1980s. Maréchal says sentencing in those cases suggests anyone eventually condemned for illegal trading of EADS stock will face stiff fines rather than actual jail time. "But the maximum financial penalties can run up to 10 times...
...Norway, one of the best examples of putting black gold to good use, to manage its oil money. But noble intentions are not enough. East Timor NGOs worry that their country's oil laws are so vague that they open the door to mismanagement and skimming. A damning World Bank-Indonesia joint study earlier this year showed Indonesia was struggling to spend state funds on decent development projects...
BEITUNIYA, WEST BANK Israel releases more than 80 Palestinian prisoners...
...Even if it doesn't, however, there's little chance U.S. officials will respond to the dollar's decline any time soon. David Naudé, euro-zone economist for Deutsche Bank in Paris, says there's absolutely no sign American authorities are ready to forsake the short-term trade benefits of what he calls "the policy of benign ignorance" toward the dollar...
...absence of a reversal from within the U.S itself, Naudé says about the only thing the European Central Bank can do to undercut the dollar's slump is lower its own interest rates to create a degree of inflation to counterbalance any further rise in the euro's value. But that does nothing to undercut its appreciation outside the euro zone...