Word: britains
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Dates: during 1980-1989
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This time the Battle of Britain is over chocolate bars. Foreigners are threatening to gobble up the country's top two candymakers. Rowntree Mackintosh, the maker of Kit Kat bars, is under attack from two Swiss companies seeking a larger share of the world chocolate market. One contender: Zurich-based Jacobs Suchard, which has acquired 18.7% of Rowntree's stock. But the more powerful bidder is giant Nestle, which has offered $3.9 billion for all outstanding shares. Rowntree Chairman Kenneth Dixon is asking the British government to help block the takeover...
Bidding began on Friday for Warhol's collection of more than 75 paintings and drawings, ranging from old masters through French impressionists to Maxfield Parrish and Norman Rockwell (represented by a portrait of Jacqueline Kennedy). A pair of 7 1/2-ft. portraits of Britain's George III and his consort Queen Charlotte went for $40,700. Still higher prices were expected this week in the sale of Warhol's modern and contemporary art acquisitions, although aside from several Jasper Johns, Roy Lichtensteins, Robert Rauschenbergs and the like, experts found this part of his collection far less impressive than might have been...
...persistence of the glut this spring finally prompted several non- OPEC nations to agree to a summit with OPEC. While some of the biggest producers declined to participate (among them Britain, the Soviet Union and the U.S.), the meeting was a somewhat threatening development for oil-gulping countries. That includes the U.S. as a whole, which imports 37% of its daily consumption. Energy Secretary John Herrington, on a seven-nation swing through Southeast Asia, was inspired to lecture non-OPEC countries that the Reagan Administration was opposed to any manipulation of the price of oil. He told TIME, "The efforts...
Last week Canada seemed to get its way, when President Reagan announced that he would allow Britain to sell sensitive nuclear-submarine technology to Prime Minister Brian Mulroney's government. Under a 1958 treaty, the subs cannot be sold without U.S. permission. The Canadians are also considering a French bid for the submarine contract. The nuclear subs' primary role would be to strengthen the Canadian contribution to NATO's North American defense. They would also put some muscle into Canada's assertion of sovereignty over the main routes through its vast Arctic waters...
...airliners built at that time, notably the long-range Boeing 707 and shorter- haul McDonnell Douglas DC-9, were powered by engines carrying Pratt & Whitney's eagle emblem. GE, despite success in developing high-thrusting jet engines for the military, ranked a distant third after Pratt & Whitney and Britain's Rolls-Royce in selling the more fuel-efficient engines needed for passenger planes. Admits Brian Rowe, 56, the burly head of GE's Ohio-based aircraft-engine group: "When we first dabbled in commercial engines, we got burnt badly...