Word: suez
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...through a herculean schedule: writing memos, sifting intelligence reports, receiving ambassadors, speechmaking, conferring with aides, answering Congressmen's questions. Among his visitors during the week: British Foreign Secretary Michael Stewart and Defense Minister Denis Healey, who brought the welcome news that any "adjustments" in British commitments east of Suez would be made "without significant loss of strength." On normal days, 1,200 cables cascade into Foggy Bottom; when things are bubbling, 1,800. They are usually bubbling. "The world is round," says Rusk. "Only one-third of its people are asleep at any given moment. The other two-thirds...
Last week two big French organizations took just the sort of merger step that De Gaulle has been advocating. Pont-à-Mousson, France's second biggest private industrial company, with estimated 1965 sales of $1 billion, and the Compagnie Financière de Suez, one of the Continent's fastest growing investment trusts, with assets of some $200 million, decided to get together. Under a provisional agreement, Suez will assume a 20% stake in Pont-à-Mousson; in exchange, Pont-à-Mousson will get between 10% and 15% of Suez, the exact share yet to be negotiated...
Steelmaking Pont-à-Mousson has 75 factories and mines in France and 13 other countries, stands to benefit from the financial savvy and worldwide banking contacts of its new corporate relative. Suez, which operated the canal until Nasser seized it in 1956, has since become a broadly diversified investment company. Its widely invested capital (banks, insurance, industry) include the more than $80 million in indemnities paid by the Egyptians for the canal. Recently, Suez has gone in for more direct participation in manufacturing, and the tie-up with Pont-à-Mousson is the latest result. Should the two companies...
Wilson's most important assurance was a pledge to Johnson that Britain would not add to the U.S. military burden in Southeast Asia by dismantling any of its own major bases east of Suez. Johnson, in turn, promised to support Britain's embargo on oil shipments to Rhodesia by offering U.S. aircraft to fly oil into landlocked Zambia during the crisis. Prime Minister Wilson was so cheered by his rapport with the President that he confided after the talks: "We are as close together as Churchill and Roosevelt ever were...
Helicopters dropped thousands of balloons bearing the image of Nasser, while tanks and self-propelled artillery thundered past the reviewing stand. It was Victory Day in Port Said last week -the ninth anniversary of Egypt's little Suez war with France, Britain and Israel. After parade's end, the crowd waited expectantly to hear whether President Gamal Abdel Nasser could top his performance of a year ago, when he pounded the lectern for the benefit of visiting Soviet Bigwig Aleksandr Shelepin and told the U.S. to go "drink the sea"-the Arab equivalent of "Go jump...