Word: britishism
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Dates: during 1950-1959
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Britain's postwar prosperity has spawned a new breed of high-flying financiers: the take-over men. As they took over one company after another, the stocks often soared dizzily, and they raked in fat profits. The British government paid little attention to the raiders until the stocks controlled by one of the biggest, H. Jasper & Co., collapsed, and trading of the shares in 15 Jasper companies was stopped. Last week the British government launched a full-scale investigation into where Jasper got his money and how he built his empire...
Dapper Harry Oscar Jasper, 54, is a Berlin-born refugee who started a foreign-currency business in 1936. After serving as a private in the British Army during World War II. Jasper quickly built up a small investment bank, joined forces with another Berlin refugee, a sharp lawyer named Friedrich Grunwald. Operating H. Jasper & Co., the two began to move fast, using the take-over expert's favorite tactic: after acquiring the controlling shares of a company, they would sell off its property, lease it back, use the cash acquired to buy more companies. H. Jasper & Co. gathered...
...most economists see any reason for making a price hike now. The British Radcliffe Report on monetary policy this year concluded that such an increase is not "immediately necessary or the most hopeful approach to the problem of international liquidity," and the International Monetary Fund has come out against it. Gold-short nations that need the most help would benefit least by the change; the major gains would be made by such big gold producers as Russia and South Africa...
Hardly had Nikita Khrushchev's bluster about Russia's strength died in Washington than a sobersided report showed that the Soviet economy lags much farther behind the U.S.'s than any Russian politico cares to admit. The report, written by top British Economist Alec Nove, 42, and published this week by the nongovernmental National Planning Association, puts forth new evidence that the U.S.S.R. has no chance to match the economic level of the U.S. in the foreseeable future. Economist Nove flatly rejects Khrushchev's boast that the Soviets have boosted their industrial output to more than...
Died. Captain Bruce Bairnsfather, 71, British World War I cartoonist who spent his spare time in the muddy trenches in France drawing "Old Bill," the sad-eyed, shaggy-headed, walrus-mustached embodiment of the dogged British Tommy, earned a fortune as Old Bill endeared himself to readers around the world; in Norton, England...