Word: tradings
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Dates: during 1980-1989
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...those committees. Rather than fight the bankruptcy frontally, the Houston company has apparently embarked on a more subtle strategy, based on its role as one of Texaco's major creditors. Says Pennzoil Attorney Irvin Terrell: "Texaco has got a lot of other partners now -- banks, trade partners and us. Their affairs will be under the view of the bankruptcy court, and the creditors will have a say. We hope Pennzoil will have the largest...
Lenders laid the blame for the increase on the bond market, where interest rates have risen sharply in recent weeks in reaction to the widening U.S. trade deficit and the falling value of the dollar. Home loans are now more sensitive to volatility in such markets because of a trend known as "securitization." That is a process in which lending institutions repackage their home loans as securities for resale to other investors rather than collect interest and principal themselves. The practice makes mortgage rates more sensitive to economic flare-ups. Even so, most financial experts contend, securitization keeps home loans...
...stimulate domestic economic growth. The plan would reduce income taxes to encourage consumer spending, creating a greater demand for imports. The sales tax, they contend, would make up for revenue lost with the cuts. An increase in U.S. exports to Japan would then take the heat out of the trade war and help stabilize the soaring yen, which has made Japanese goods more expensive abroad. Still, despite an L.D.P. majority in parliament, both the tax and budget proposals face an uncertain future...
...imposition of sanctions suggested, Washington is skeptical about whether Tokyo has the will to correct its $58.6 billion trade imbalance with the U.S. Last week U.S. Treasury Secretary James Baker tried to allay Japanese concern about the yen by calling a further decline of the dollar "counterproductive." Nonetheless Baker complained that Tokyo's proposed economic reforms "are not yet government policy" and warned that "Japan still must do more...
...Reagan Administration's new 100% tariffs were levied on some Japanese color TVs, personal computers and power tools. Although the sanctions will affect only a tiny fraction of overall bilateral trade, they will hurt some Japanese manufacturers. But for the middlemen peddling Japanese microchips to foreign buyers, business will probably go on as usual. Already some American enterprises dependent upon inexpensive Japanese chips are busy looking for legal loopholes to exempt them from the U.S.-Japanese semiconductor agreement signed last year. In the meantime, tensions show no sign of abating. When Yasu calls on his friend...