When banks in the United States, led by the First National Bank of Chicago, began to ratchet up interest rates last week, the outlook for the fragile Canadian dollar darkened rapidly. Throughout the vast telephoneand computer-linked network that forms the world’s money market, reports that U.S. prime interest rates were climbing by half a percentage point produced a swift reaction.By Ross Laver, Ian Austen15 min
In the end, at the climactic moment of John Napier Turner’s political life last week, it took him only 30 seconds to swear the oath of office making him Canada’s 17th Prime Minister. It was the crowning career achievement for which he had waited all his political life, and his wife Geills, for one, had expected a more elaborate ceremony.By Carol Goar, Mary Janigan9 min
What was to have been a milestone in the history of space travel turned into a disappointing failure last week for Discovery, the third U.S. space shuttle. First, a computer malfunction delayed its scheduled launch for 24 hours. Then, in the last seconds of the countdown on the second try, the launch engines started up briefly, only to shut down after three seconds because a small hydrogen fire had broken out in one of the shuttle’s three main engines.
British writer Jane Austen once declared: “For what do we live, but to make sport for our neighbors?” Austen could have been writing about early summer in Great Britain, when royals and workers alike turn unabashedly to sport for relief.
Former vice-president Walter Mondale’s campaign for the presidency took two important steps forward and one step back last week. After the intercession of Senator Edward Kennedy, Mondale and his chief rival for the Democratic nomination, Senator Gary Hart, buried their differences in cordial words at a meeting in New York City, raising expectations that the party would mount a united challenge to President Ronald Reagan’s re-election campaign.By DAVID NORTH5 min
The headline in the Paris daily newspaper Libération reflected the relief that echoed from London to Athens last week. “Europe,” it read simply.“Whew!” After two days of bargaining in the gilded salons of the fabled Château de Fontainebleau, the European Community’s 10 leaders finally agreed to a budget compromise which pulled the EC back from the brink of bankruptcy and averted—for the moment—the prospect of political disintegration.By Marci McDonald5 min
At the recent Liberal leadership convention, the various manifestations of an ugly Canadian epidemic of discrimination were discussed: discrimination against the old, the unemployed, the handicapped, women, homosexuals, ethnic groups, native people and a subcategory within them—Indian women.By Barbara Amiel5 min
Senator Ian Sinclair, the craggy veteran of CPR corporate wars, stared around in disbelief. Writhing bodies thrashed wildly to a deafening noise. In the midst of the bodies was the retiring Prime Minister of Canada, surrounded by nubile maidens.By Allan Fotheringham4 min
In one of his final acts as Prime Minister, Pierre Trudeau rewarded some old friends and supporters last week. He filled seven of the 12 vacant seats in the Senate, appointed two new Federal Court judges and handed a retiring cabinet minister a 10-year term on the Canadian Transport Commission.By TERRY HARGREAVES4 min
"Eventually, we will be able to simulate real life,” says John Pennie, the marketing wizard who is riding the magic of computer animation in Canada. It’s no idle pronouncement. Pennie heads a little-known Canadian enterprise named Omnibus Computer Graphics Inc., which is deep into a new technology that is revolutionizing film and television.By Peter C. Newman4 min
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