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...markets, which determine prices for many international transactions, are somewhat overstated since they are expressed in sterling and the pound has been sinking sharply in value. Even so, they are worrisome. Some examples: the sterling price of copper wire bars has jumped 83% above its 1975 low, zinc 44%, nickel 61%, tin 53%, cocoa 161%. In the U.S., soybean futures prices rose 13 cents, to $7.20 a bushel, last week on the strength of rumors of possible large sales to the Soviet Union and China. A recent Common Market economic report notes that the rise in spot commodity prices makes...

Author: /time Magazine | Title: Business: A Run-Up in Raw Materials | 7/19/1976 | See Source »

Even the use of the word "democracy" in the draft statement was cause for contention. As one high-level Italian Communist explained to TIME Correspondent Herman Nickel: "How could [Italian Party Chief] Enrico Berlinguer sign a statement on democracy that [Czechoslovak President] Gustav Husak could also sign?" The red-leather-bound final declaration, placed before each delegate at the opening of the two-day conference, affirmed the "complete independence" of each party "in accordance with the socio-economic conditions and specific national features prevailing in the country concerned...

Author: /time Magazine | Title: COMMUNISTS: The Last Summit: No Past or Future | 7/12/1976 | See Source »

...peculiar conditions and orientations of the broad popular masses in the West." He insisted that Italian Communism was committed to economic development in both the public and private sectors. Such heresies so infuriated a Soviet journalist watching the proceedings on closed-circuit TV that he turned to Nickel and tagged Berlinguer with the ultimate Communist insult. "A social democrat -the capitalists will be happy to have him," he said. "Right now he's riding high, but sooner or later we must make clear that we regard Berlinguer's position as false and dangerous...

Author: /time Magazine | Title: COMMUNISTS: The Last Summit: No Past or Future | 7/12/1976 | See Source »

...Paul Getty once kept a pay phone at his English mansion, but he wasn't the sort to nickel and dime his women−except possibly his wives. The oil billionaire was married and divorced five times before he died this month at 83, but his will mentioned only No. 5−Louise Lynch Getty of Santa Monica, Calif., a singer who wed Getty in 1939 and gets $55,000 a year for life. Eleven other women shared in Getty's largesse, including a German countess, a French art dealer, Getty's Nicaraguan companion Rosabella Burch...

Author: /time Magazine | Title: People, Jun. 28, 1976 | 6/28/1976 | See Source »

...Briefly the typewriter keys activate a mechanism that rotates a nickel-plated plastic ball on which letters and numerals are raised. Tilted to the proper angle for each character, the ball strikes the typing surface, then moves...

Author: /time Magazine | Title: Business: Chasing the Bouncing Ball | 6/21/1976 | See Source »

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