Word: signs
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Dates: during 1970-1979
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...fields were not Egyptians but three cigar-chomping Texans who work for Mobil Oil; the corporation owns 50% of the Egyptian company that had operated the fields before Israel captured them during the Six-Day War. The Israelis in charge of Ras Sudr insisted that the Texans had to sign for the Arab Republic of Egypt. Well, no, said Engineering Consultant Billy Marcum of Dallas; he and his buddies were empowered to sign only for Mobil. Israeli Representative Meir Gueron replied that the Jewish Sabbath would begin soon. Unless Marcum agreed to represent Egypt as well as Mobil, the Israelis...
Israel, meanwhile, was acting with equivalent aplomb. Even though Jerusalem did not sign the agreement until last week, the government had earlier decided to honor a timetable drawn up as though it had. Thus the Mobil engineers were welcomed heartily when they first arrived at Ras Sudr under U.N. escort, a day before the signing ceremony. An Israeli colonel in charge of the pullback from the fields told TIME Correspondent Marlin Levin: "We will leave the oilfields to the Egyptians just as we found them. We have even cleaned up the mosque for them...
...heavily influenced by the Federal Reserve's purchases or sales of Government securities. The board often uses the Fed Funds rate to signal its intentions on money supply; it will let the rate rise to show a tightening, permit it to fall in order to flash a sign of expansion. At one point last week, the board let the Fed Funds rate fall to 5.875%, the lowest level in two months, before it moved to nudge the rate up again. Last week the rate averaged 6.06%, down from 6.36% the week before...
There is no sign at all that Burns, who believes that a rapid growth of money supply would be inflationary, has changed his basic target: an increase of 5% to 7½% a year in the U.S. money supply. But the Federal Reserve must become more liberal than it has been lately in order to achieve even that modest goal. Such a policy will not mollify Burns' numerous and vehement critics, who judge a faster increase necessary to meet the needs of a growing economy. Recently, for instance, some Congressmen accused Burns of trying in effect to repeal...
...been interpreted as not applying to links between the boards of banks and nonbanking firms. Now the Justice Department is saying that it does. To the defendants, this sudden new interpretation of the law seems very tenuous and unwarranted, and they intend to fight. Prudential refused to sign a consent order, and no company plans to fire its shared directors...