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...Economic Cooperation and Development in its semi-annual forecast covering 24 member nations of the industrial world. In the next twelve months, predicts the OECD, their economic growth will average 2%, down from 3.7% last year; their inflation will rise from 7.9% to 10%; and their unemployment may swell from 5.25% to 6%, a postwar record of 19 million people out of work in OECD countries...

Author: /time Magazine | Title: Business: Bad All Over | 7/30/1979 | See Source »

Also the growing rift between oil haves and have-nots widened further at the conference. Recent oil price increases will swell the collective current-accounts deficit of the non-OPEC LDCs this year by $5 billion, to a total $57 billion, and additional raises will grossly enlarge the gap. The Costa Rican delegation mustered some support from other oil-deficient Latin American countries for its proposal that OPEC consult with the importing LDCS before it raises prices again. But African and Asian delegations squelched the resolution partly out of fear that the OPEC nations might reduce their...

Author: /time Magazine | Title: Business: Less Developed, More Divided | 6/18/1979 | See Source »

...that, 220 in living-cost payments will be deferred until the three-year contract expires and thus will not be counted. If inflation over the next three years averages not 6% but 8.5%, as the companies and union predict, the increased cost of living payments will swell the settlement to 31.5%. The truckers quickly got permission from the Interstate Commerce Commission to raise freight rates by up to 5.7%, and the industry will seek additional increases...

Author: /time Magazine | Title: Business: Wages of Clout | 4/23/1979 | See Source »

...JUDGMENT. When the sun is folded up; when the stars fall, losing their lustre; when the mountains vanish; when the she-camels, ten months with young, are left untended; when the wild beasts are herded together; when the oceans boil over with a swell;... when the World on High is unveiled; when the Blazing Fire is kindled to fierce heat; and when the Garden is brought near;-(Then) shall each soul know what it has put forward...

Author: /time Magazine | Title: Special Report: Some sayings from a Holy Book | 4/16/1979 | See Source »

...exit, shaking hands and clasping shoulders. "Begin for President," he said, and the Israeli Premier embraced him. Inside the White House, where there was champagne and dancing, the Marine Band was playing Cole Porter's Well, Did You Evah! which ends with the line "What a swell party this...

Author: /time Magazine | Title: World: The Feast of Joy | 4/9/1979 | See Source »

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