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Since the 1953 agreements between the U.S. and Spain were established, the economic aid "pumped" into Spain has amounted to $928,361,000, not $2 billion. These include defense support, PL 480 sales, Export-Import Bank and DLF loans...

Author: /time Magazine | Title: Letters, Jul. 6, 1959 | 7/6/1959 | See Source »

...fight experts only grinned and shrugged off Challenger Johansson, 26, as a good, clean-cut Swedish kid, an import of blue-eyed, dimpled innocence who would be diced into smorgasbord by the flashing attack of Heavyweight Champion Floyd Patterson. Nobody was impressed by the fact that Johansson was undefeated in his 21 fights, last year had demolished No. 1 Contender Eddie Machen with the very same right. European heavyweights, however upright their intentions, traditionally have been horizontally inclined against American champions. And Patterson, 24, camping in a grubby New Jersey shack, grimly punishing himself in training with everything...

Author: /time Magazine | Title: Sport: Right Makes Might | 7/6/1959 | See Source »

...marketing, or merge with anyone who did. But now, at 79, he is growing weary of the fight and realizes that a producer must have markets to remain strong. Says a Keck aide: "It has simply become too difficult to do business. Without refinery facilities, we have no import quotas of our own and are entirely at the mercy of the majors. When they want our oil, we move it. When they don't, it sits there. The sale to Texaco, which has tremendous refining capacity, was a natural...

Author: /time Magazine | Title: OIL: Coup for Texaco | 6/29/1959 | See Source »

...materials. Its austerity program worked, and by mid-1958 Britain again had more than $3 billion in gold and exchange in the till-and new self-confidence. It freed the economy from a tangle of regulations, lowered income and corporate taxes, made sterling convertible, and announced the end of import restrictions against most goods coming from the dollar area...

Author: /time Magazine | Title: BUSINESS ABROAD: Buoyant Britain | 6/29/1959 | See Source »

British economists doubt that exports will continue to rise at their current rate, fear that the trade balance may turn around again when raw material prices rise and import demand in Britain picks up as a result of economic expansion. But Britain is clearly out of its balance-of-trade crisis, and the outlook ahead-in the best British tradition-is solid without being spectacular...

Author: /time Magazine | Title: BUSINESS ABROAD: Buoyant Britain | 6/29/1959 | See Source »

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