Popular chocolate goods such as Cadbury's Dairy Milk, Maltesers and Kit Kat are now fair trade, while ice cream producers Ben and Jerry's will switch to exclusively fair trade ingredients this year.

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For investors who prefer to sacrifice some yield in exchange for greater safety, possibly with the intention of swapping back into speculative grade corporate bonds at a wider spread later on, the most straightforward trade is to switch to Triple-B corporates.

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During earlier inspections in the mid-1990s, trust had broken down badly in the council when first Russia and China, then France, tiring of mounting Iraqi intransigence, argued for a switch to less intrusive monitoring and an easing of sanctions so that trade could resume.

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