Word: turnaround
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Dates: during 1970-1979
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Surplus for Solvency. Jenkins could afford the gesture. His budget showed further evidence of a dramatic turnaround in Britain's fortunes. The payments balance had swung from a horrendous deficit in 1968 to a handsome surplus in 1969. The basic surplus in 1969 was $929 million, the highest ever recorded. Furthermore, in the year's last nine months there was a favorable balance on "visible trade"-the import and export of goods. Britain has earned visible surpluses in only two years since 1822, relying traditionally on "invisibles"-earnings on overseas investments, services and tourism-to cover its trade...
Overdone Jitters. Computer stocks have been sinking ever since IBM announced in January that its fourth-quarter earnings were off slightly from the year before-a rare event. Last week IBM reported a turnaround in the first quarter; profits rose to $2.02 a share, from $1.82 a year earlier. Its own stock jumped 5¾ points on the news, to close at 331½-still far down from the January peak of 387. The IBM report pulled up prices of some other computer stocks too, but they also remained far below earlier highs. Control Data dropped to 49⅛, less...
...Careful Turnaround. The demonstrations began in the eastern-border province of Svay Rieng, long a vital refitting and recuperation base for Communist troops operating in South Viet Nam. Three days later, they spread to the capital as thousands of placard-carrying, student-age protesters attacked the North Vietnamese embassy, tossing furniture through doors and windows, and setting fire to several official cars. At the Viet Cong embassy, windows were smashed, doors were torn from their hinges, and the lawn was strewn with debris. The demonstrations continued for three more days, spreading to Vietnamese-owned businesses...
Norodom Sihanouk, left for treatment in France of a blood ailment. Sihanouk, who broke off relations with the U.S. over Viet Nam in 1965, has been executing a careful diplomatic turnaround since Washington began its withdrawal program. At the same time he has been voicing serious concern over the Communists' continued use of Cambodian territory as a base of operations...