Word: petroleum
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...United Brazilian Minerals, which is 49% owned by Cleveland's Hanna Mining, was granted the right to mine and export iron ore and eventually to manufacture steel, an ambitious $600 million enterprise. The two new projects were only the latest in a spate of similar announcements. Phil lips Petroleum plans to pump in some $60 million, starting with a new fertilizer plant for which ground has already been broken. Union Carbide will expand its operations to the tune of $62,300,000. International Harvester has not only reopened; it is also spending $30 million to expand its truck line...
Political meddling in business is as commonplace in Italy as pasta on the dinner table. The late Enrico Mattei, for instance, operated E.N.I., the giant government petroleum complex, almost as a financial arm of the Christian Democratic Party. A major exception to the rule has been Rome's Banca Nazionale del Lavoro, which for 53 years has kept out of politics even though the Treasury Ministry is its majority stockholder...
...Dallas Oligarchy Theory," argued by Author Thomas Buchanan, has it that the assassination was engineered by a Texas oil millionaire who thought Kennedy stood in his way to domination of the world petroleum market. The "Cuba-Framed Theory," proposed by Fidel Castro, holds that Oswald's activities in Fair Play for Cuba groups were faked so that, assuming he escaped, Washington would figure he had fled to Cuba, and would thus have an excuse to invade. The "Red Execution Theory," pushed by Right-Wing Intellectual Revilo P. Oliver, has it that Oswald was ordered by Moscow to shoot Kennedy...
East-West trade already is clipping along at a $10 billion rate this year. Although more of the goods involved, from Renault and Fiat cars to a U.S. petroleum-cracking plant, are Eastbound, the Communists still stand to make money out of the deals. No Western bank is allowed a branch in Moscow, but the Russians already have banks in London, Paris and Beirut that earn attractive commissions by cutting red tape, handling paper work and removing the risk for Western exporters by discounting their bills in advance. Now, with trade on the increase, they have opened a new bank...
Ready to Drop. Because stamps are a nuisance to handle-and cost about 2% of sales-many retailers are happy to give them up when the competition does. The Georgia Association of Petroleum Retailers says that the percentage of stamp-giving filling stations in the state has fallen from about 35% to less than 25% over the past six years. In some Florida markets, 80% of the stations have abandoned stamps...