Word: exports
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Dates: during 1960-1969
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...line whisky man, Ronald S. Gumming, 62, a spirited Scot whose great-grandfather founded the Cardow Distillery, which later was absorbed by Johnnie Walker. Gumming, an army officer in both world wars, became a Distillers director in 1946, has been a major force in Britain's drive to export more Scotch. A onetime Scottish all-star rugby player, he is described by a close friend as a person who "enjoys life to the full-including his own product...
...going up in recent years, German wages will not catch up with U.S. wages for 20 years-if even then. But wages in the past twelve months have soared 14%, wiping out.a productivity gain of 7%. Businessmen have covered part of the increase by raising prices (Germany's export prices have increased 4.2% over the past year). Gone are the plump times when German firms could simultaneously finance all investment from profits, add lavishly to reserves and pay handsome dividends. Wrote the business-oriented daily Frankfurter Allgemeine: "We have long since ceased being a model, and instead are increasingly...
Among the delegates from 71 nations, the Latin Americans were angry at Europe's Common Market nations for clamping high tariffs on South American coffee and almost none on coffee from France's former African colonies. The Latin Americans wanted rigid export quotas. The Africans, whose beans are used mostly for instant coffee and whose coffee trade is booming on the trend to instant, wanted elastic quotas that would expand or contract with world demand. And all the producing countries wanted the Europeans to lower their high taxes on coffee (example: $1.50 a lb. in West Germany...
...biggest commodity in world trade. With overproduction and massive stockpiles threatening to collapse coffee prices, delegates agreed that something had to be done. Under the prodding of the U.S. delegation, they finally reached an agreement last week to establish a worldwide Coffee Council, which will assign tight export quotas to producing nations based on their current level of exports. But the quotas will be revised as the demand for various types of coffee fluctuates-a victory for the Africans...
Selling Points. To ease apprehensions that foreign customers will renege on bills, the Export-Import Bank and 71 insurance companies have formed the Foreign Credit Insurance Association to sell insurance against most risks at low rates. Pan American World Airways, which wants to step up its air-cargo shipments, is one of several international firms ready to put businesses in touch with established sales agents abroad. The Commerce Department supplies inquirers with a long list of potential foreign buyers, counsel on how to sell them and how to snip international red tape, and news that there are likely foreign markets...