Word: european
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Dates: during 1960-1969
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...other six point down. Among them are the pace of nonfarm hiring, the ratio of prices to manufacturing labor costs, and stock prices as measured by the Standard & Poor's index of 500 stocks. The stock indicator does, however, show a rise for April. Overly excited by European political events and peace prospects in Viet Nam, investors sent the 500 up by 2.28 points last week to close at 104; the narrower Dow-Jones average of 30 industrials climbed 33 points to 957 for its best week-long rally in 13 months...
TIME'S European Economic Correspondent Robert Ball reports: "Perhaps France could limp through this year without devaluation, just as the mark might squeeze through without a parity change (though this is less likely). But one is bound to ask why. A clean break fairly soon would be better for France and for the world monetary system than living with a sick franc for months...
...Germans are talking about revaluing by 8% to 10% if the franc is dropped by the same amount. Any major increase in value of European money would tend to help the U.S. balance of trade-which posted a $215 million surplus in March-by increasing the price of imports. Without revaluation, it will be a long, uneasy summer in the foreign exchange markets...
...includes a tax of at least $60 a ton on the food oils used in margarine, would slash by one-third the U.S.'s $500 million annual soybean exports to the Common Market. The tax plan was shelved after the U.S. threatened retaliation-by raising tariffs on imported European cars, for example-but as long as the "butterberg" grows, the bitterness will persist...
Importing Men. Some companies are taking advantage of the Government's liberal rules for admitting immigrants who have needed skills. Faced with a dearth of pipe fitters and carpenters, Pittsburgh's Dravo Corp. has been importing European employees through Canada. Kaynar Manufacturing Co. of Fullerton, Calif., is seeking to bring in Japanese workers to meet its demand for machine-tool operators. New York City social-service agencies have begun referring welfare recipients to taxi companies, whose shortage of 2,500 drivers has aggravated the chronic scarcity of cabs on city streets. Brokerage houses offer as much...