Ouch. Skanska AB, the Swedish construction company, lost about $100 million in the currency markets while we were away, according to a release issued by the president of the company's finance unit. "Through serious and repeated violations of stipulated risk limits and guidelines, the subsidiary president has used the summer months for extensive currency speculation," the release states.

Adam & Company, a small Scottish private banking group, also got burned in the currency markets. Adam's

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