Word: billioned
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Dates: during 1950-1959
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...Canada, Australia, New Zealand, Japan, Since the plan was started in Ceylon nine years ago, primarily as a mutual-aid forum of ten British Commonwealth nations, it has become the accepted regional headquarters for development plans affecting a quarter of the world's population. In that time $6 billion in foreign aid has been pledged to its member countries-nearly $5 billion of it from the U.S. About two-thirds of all the aid has gone to India. The original overall goals (17% more irrigated land, 10% more food produced, 67% more electricity generated have long since been attained...
...force that gives the U.S. economy its pep is being generated more and more in the teeming aisles of the nation's stores. From the Commerce Department last week came an estimate that retail sales in October reached $18.3 billion on a seasonally adjusted basis, a 7.8% gain over last year's level and the first time October sales have burst through the $18 billion mark. In November's first week, sales in U.S. department stores were running 5% ahead of last year. Retail sales for the first ten months of 1959 total $179.9 billion, 9% above...
Such nondurable goods as clothing, food and gasoline still account for two-thirds of the consumer's purchases, reached a sales total of $12 billion in October. Bigger gains have been run up in the durable field (see chart), where October sales hit $6.3 billion, up 17% over last year and nearly 10% over September. The durables got a hefty boost in October from soaring sales of Detroit's 1960 auto models, will probably level off this month because of a shortage of cars caused by the steel strike...
MERGER TALKS are going on between Rock Island and Milwaukee railroads. Merger of the two Chicago-based carriers would result in substantial savings in operating costs, form a road with 18,000 miles of track, largest in U.S., and total assets of more than $1 billion...
...owns more than $500 million in Manhattan real estate, including the Park Lane, Commodore, Biltmore and Barclay hotels, plus several blocks of Park Avenue land. Biggest plum of all: Alleghany's 47.8% control of Investors Diversified Services, which manages five mutual funds whose combined assets total about $3 billion. This great Alleghany complex, says Sonnabend, "has been static since Robert Young died. It needs new vitality and dynamism...