billion
noun

one thousand million

(Note In the US, it has always meant one thousand million, but in UK English it formerly meant one million million, and it is still sometimes used with this meaning. With figures it is usually written bn: $5bn say 'five billion dollars'.)

"...gross wool receipts for the selling season to end June 30 appear likely to top $2 billion" [Australian Financial Review]

"...at its last traded price the bank was capitalized at around $1.05 billion" [South China Morning Post]

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