Word: marketed
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Dates: during 1960-1969
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...final blackball, but it was the closest thing to it. Assembled in Luxembourg's new 23-story Centre Européen were the members of the Common Market's Council of Ministers, ready for the first official talks on Britain's application for membership. Many feared that France might deliver the coup de gráce right then and there, ending Britain's hopes of gaining entry any time in the near future. What came was a glancing blow that was calculated to prove just as fatal...
France's five Common Market partners-all of whom publicly support British membership-tried unsuccessfully to soften the French position, but they failed. Flying to London for three days of talks with Prime Minister Wilson, West Germany's Chancellor Kurt Georg Kiesinger offered little solace. "It would be no use banging the table," he said. "Anyone who knows President de Gaulle will understand that this would produce the opposite effect. The only way is to try to convince the French by intellectual arguments, and hope that the overwhelming weight of European public opinion will make them change their...
...Smaller Markets. The size of those U.S. exports and the effect of a cutoff made up the ammunition hurled at the Senate last week by a platoon of Cabinet members sent up the Hill by President Johnson. Agriculture Secretary Orville Freeman pointed out that one acre of every four of U.S. farmland grows food for export, and exports provide work for one out of every eight U.S. farmers. Interior Secretary Stewart Udall argued that oil import quotas should be less rigid in order to give the Government flexibility in maintaining the national security. Rusk cited some U.S. annual exports...
Last week the pressures in the U.S. money market led the Bank of England to raise its interest rate from 5½% to 6%, hoping thus to stem a flow of funds toward the U.S. Though the British move steadied the sagging pound, it means that businessmen will have to pay more for loans to finance new plants and that consumers will pay more for installment purchases. Both consequences will tend to slow Britain's recovery from recession. Continental bankers predicted that the British action will lift the cost of short-term borrowing, but voiced guarded confidence that other...
...walkout has cost the U.S. an estimated 450,000 tons, or 20% of last year's refinery output. As a result, many American buyers have turned to the London market and mopped up the 140,000-ton world surplus that had been anticipated this year. By last week, U.S. buying had driven copper prices on the London Metal Exchange up from 44½? a Ib. to 50⅛? a Ib. Most producers are surprised that the price has stayed that low; London copper prices normally gyrate on the flimsiest sort of news and early in 1966 they briefly...