Word: market
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Dates: during 1970-1979
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...United States could play the role of parent--an inexcusably selfish, and often negligent parent, but a parent nonetheless. The disguise, however, was too transparent and too often cast aside to conceal the raw facts of America's superior might and Mexico's dependence on the U.S. as a market for 70 per cent of its exports and as a source of foreign investment...
...maybe even three. As the country grows ever more litigious, high-stakes law has ceased to be the preserve of large New York and Washington firms; practitioners now need to know on a regular basis what their colleagues in the rest of the country are up to. The potential market is vast: almost 500.000 lawyers (median annual income: $30.000) and 30.000 fresh law school graduates every year. To turn these prospects into profits, the three papers have evolved different editorial strategies...
Panic buying has given producing nations tantalizing inducement to raise their long-term contract prices. On the open or "spot" market, where the small percentage of oil not sold under contract is available, frenzied demand has sent prices up to more than $23 per bbl. Further whetting OPEC greed, Britain has boosted its price for North Sea oil by 2% above the cartel level...
...Administration's policy of demonetizing gold will receive yet a further setback if, as is expected, eight of the nine members of Europe's Common Market next month begin pooling a portion of their official reserve holdings to create a kind of central bankers' supermoney. The European Currency Unit, or "ecu," is intended to be the precursor to a Common Market currency that would at least partly replace marks, francs, guilders and other national money. Each member nation must contribute not only paper money but also 20% of its gold reserves to the pool that will back...
...largest bazaars for the purchase and sale of the metal remain in London and Zurich. As it has been since 1919, the worldwide price has been set twice a day on the London gold market by five of Britain's leading dealers in bullion. They meet in the offices of N.M. Rothschild & Sons, the City bank, and agree upon a price at which all are prepared to trade in the metal that day. Meanwhile in the U.S. an enormous and highly speculative market in the trading of gold "futures" contracts has developed on the New York Commodity Exchange...