I had a discussion at work here about that once:

In the US:
million = 10^6
billion = 10^9  (thousand million)

In UK:
million = 10^6
billion = 10^12 (million million)


Read this article from the Straight Dope:
http://www.straightdope.com/mailbag/mgazilli.html

-tgq

"Greg M. Johnson" <"gregj56590[:-0]"@aol.com> wrote in message
news:3BC5AAE4.2D531AF1@aol.com...
> Warp wrote:
>
> > (several thousands of millions...).
>
> Now *there's* a phrase to cause anxiety in an American listening to an
> international audience.
>
> thousand=1E03
> million = 1E06
>
> thousand millions=1E09?
>

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