Word: billioned
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Dates: during 1950-1959
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...Tahra Palace. From then on, it was merely a matter of the routine haggling that each side expected of the other. Nasser stepped in personally to raise Egypt's compensation offer to $43 million, and the Sudanese were happy to accept after getting a greatly increased share (18.5 billion cubic meters v. 4 billion in the 1929 pact) of the increased water supply to be accumulated when Egypt's Aswan High Dam holds back the vast amount of wasted water that normally goes down into the Mediterranean every year. The successful talks were capped with a tidy...
...Chamberlain, 39. In 1955 they headed a team that found the long-sought antiprotons, key particles of the stranger-than-fiction world of antimatter (TIME, Oct. 31, 1955 et seq.). Antiprotons, which the Segre-Chamberlain team identified in a beam of subatomic debris created by Berkeley's 6.2-billion-volt bevatron, have the mass of ordinary protons but carry negative electric charges instead of positive charges. When a proton hits an antiproton, they annihilate each other, both turning into a powerful flash of gamma-ray energy...
Despite settlements by Kaiser Steel Corp. and two other small steelmakers, the steel strike is biting deep into the U.S. economy. Steelworkers have lost $1.1 billion in wages; steel companies, $3.3 billion in sales; the Government, $710 million in taxes; the nation, 30.9 million tons of steel production. The Commerce Department estimated that the rate of the gross national product dropped $3.5 billion in the third quarter. An index of the eight key economic barometers fell farther in the first three months of the strike than during the first three months of the 1957 recession. The U.S. faced widespread shutdowns...
Last week the Federal Reserve Board announced that in September outstanding consumer credit rose to a record high of $48.4 billion. New loans are well ahead of repayments, but this is usual during a period of credit expansion, just as repayments outran new loans during the recession. Of the loan total, $37.5 billion was installment credit, an increase of $485 million over August. While this was the smallest monthly increase since last March, installment credit this year is expected to rise about $6 billion v. a $5.4 billion increase...
...best one-word description of Henry J. Kaiser, 77, and his son Edgar Fosburgh Kaiser, 51, is the title of the TV program sponsored by their $1.8 billion industrial empire: Maverick. Before he moved upstairs to let his son take over, bulldozing Henry J. built a worldwide network of diversified companies with an independence and daring that alternately drew gasps, laughter, and profanity from U.S. industry. Last week Son Edgar once more proved that the Kaisers are mavericks: he settled with the striking United Steelworkers on behalf of his Kaiser Steel Corp., thus breaking the industry's solid ranks...