Word: halting
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...some $10 billion while continuing to appeal the 1985 Texas judgment. Protecting itself from such an appeals decision had been a vital factor in Texaco's decision to flee into bankruptcy. The Houston hearing was stayed after Texaco lawyers argued that the Chapter 11 filing triggered an automatic halt to other legal proceedings. Pennzoil officials said they might challenge the bankruptcy petition, but at week's end they had not done...
...unlikely to become a long-term trend. Contends Lyle Gramley, chief economist for the Mortgage Bankers Association of America: "There is no reason for interest rates to continue going up. That would slow the economy so much that the run-up wouldn't be sustained." But the abrupt halt to the flow of ever cheaper mortgage money might handicap an otherwise healthy homebuilding industry. Last week the Commerce Department reported that housing starts during March fell to an annual rate of 1.77 million, a 3.2% drop from the previous month...
...calm foreign-exchange markets, but it had exactly the opposite effect. After the latest Washington communique, a wild , selling spree pushed the value of the dollar down at week's end to 142.50 yen, a 40-year low against the Japanese currency. Indeed, after the Paris declaration failed to halt the dollar's slide, there was no reason to believe a vague reiteration of the same policy would have much impact...
Other leaders decried China's woes. Charging that bribery, tax evasion, embezzlement and other crimes "have reached very serious proportions," Finance Minister Wang Bingqian demanded that the "malpractices" come to a halt. Dressed in a gray Mao suit, Wang chided officials for using public funds for "lavish dinner parties and gifts" and for "blindly pursuing the modernization of office facilities." Thanks in part to such extravagances, Wang said, the government ran a $1.9 billion budget deficit in 1986 and can expect $2.2 billion in red ink this year. Planning Commission Minister Song Ping took up the theme: "Financial and economic...
...even if the forces insisting on SDI deployment nevertheless were to prevail, the U.S.S.R. would not be left in a hopeless position. It could bring to a halt any reduction of its strategic forces and begin accelerated construction of mobile strategic missiles and cruise missiles, which would thus replace vulnerable silo-based missiles. As I have noted, such substitution is desirable for other reasons...