11.   For a start, these moves reflect new optimism that Japan will cure its sick banking system and spur its economy out of recession.

12.   Fund industry consultant Geoff Bobroff said the moves reflected the increasingly complex business of asset management as well as the culture of shared responsibilities at American Century.

13.   It said the move reflects a growing strategic conflict between the two businesses.

14.   On one level, these moves only reflected a business disagreement, magnified by the soaring valuations of both companies amid enthusiasm for Internet stocks.

15.   Senior Republican aides said the move reflected the overwhelming impulse among lawmakers to stand with Israel, as well as Republican disillusionment with Powell.

16.   The big moves reflect a growing push by financial services firms, amid major inroads by Web-only brokers, to attract and retain investors of all stripes.

17.   The central bank said the move reflects its confidence that calm had been restored to the foreign exchange market.

18.   The drugmaker said the moves reflect its confidence in prospects for sales growth of its Prozac drug for depression and newer products such as Zyprexa for schizophrenia.

19.   The move also reflected concern about the diminishing number of choices among accounting firms.

20.   The move reflects a growing realization by computer companies that older Americans, once viewed as old-fashioned technophobes, increasingly are a viable part of the technological revolution.