Word: discounters
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Dates: during 1960-1960
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...month, $87.7 million repayment installment to the Export-Import Bank and the International Monetary Fund, Brazil arranged a six-month payments moratorium-but the next Brazilian ad ministration will have to resume payments. To meet the internal demand for dollars, the Bank of Brazil recently started selling (at a discount) certificates for dollars deliverable within 90 days. The first batch of $80 million must be redeemed in dollars beginning Feb. 1, the day after Quadros' inauguration...
TIRE PRICES were cut $1 to $4 by Firestone. Company hopes to effectively counter discount-house competition by dropping tire prices to lowest level since...
...reader to come equipped with nothing more than an interest in a basic commodity: money. She supplies the rest, in a pattern so skillfully simple, informal and clear that it slides readily even into the nonexpert mind. "Increasing productivity" turns into "a bigger output per man per hour." "Discount rate" becomes "borrowing rate." Rather than indulge in bafflegab, Sylvia takes a paragraph to explain the jargon...
...balance-of-payments and gold-outflow problem, the U.S. last week got some help from abroad. Responding to heavy pressure from the Eisenhower Administration, West Germany lowered its discount rate from 5% to 4%, and its bank rates for loans from 6% to 5%, thus weakening a magnet that has been drawing gold from the U.S. Kennedy seems sure to insist strongly, as did Ike, that West Germany and other U.S. allies help more in defending the free world against Communism, thus relieving the U.S. of some of its heavy foreign spending...
...year the British government expects to spend $386 million abroad, v. $204 million last year. This money, along with private investments, goes mainly to underdeveloped Commonwealth countries. Britain also moved last week to help stem the flight of gold from the U.S. when the Bank of England lowered its discount rate from...