Word: oz.
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...leading industrial countries last week announced a new short-term loan of $1.85 billion. Continued unease about Mexico's finances and a rumor that Argentina is also close to default helped send the price of gold in London up $50 in two days last week, to $455 per oz...
...treating oil spills, began tossing out about 100 lumpy white squares from their flat-bottomed swamp boats. Almost at once, the muck began to stick to the pillows. When they were pulled from the river 15 min. later, clear water miraculously began to drain from them, while each 8-oz. bag retained 8 lbs. of oil sludge. Says Peterson's Ben Benson: "We've been working with infrared detectors, 'super sucker' vacuums and high-speed skimmers. Now we're into chicken feathers. I don't know how much research or development...
...speculation boom began in 1980, when inflation started to level off and interest rates shot up. That made investments like money-market funds more valuable, and diamonds, gold and other hard assets less attractive. Despite its sharp price increase last week, gold is selling for only about $380 per oz., well below its January 1980 peak of $850. A portfolio of U.S. coins is now worth 15% less than it was a year...
BORN. To Donna Summer, 33, sultry queen of disco, and Bruce Sudano, 33, songwriter (he co-wrote Summer's Bad Girls and Dolly Parton's Starting Over): their second child, second daughter; in Los Angeles. Name: Amanda. Weight: 7 Ibs. 6 oz...
...growing a bit jaded with the usual insignias. So to put a new gleam in their eyes, a Singapore firm has introduced blue jeans with a solid-gold label and a similarly lustrous price tag: $850. Yane jeans bear a Y-shaped trademark, which is made with 1.12 oz. of 22-karat gold, on the pants just above the right hip pocket...