“It was the best of times, it was the worst of times.” —Charles Dickens, A Tale of Two Cities For Alfred Powis, chief executive officer of Toronto-based Noranda Inc., a natural resources giant, it was unquestionably the worst of times. After last week’s cataclysm on the world’s major stock exchanges, Powis estimated that he had lost $864,000 on his personal portfolio of Noranda common and preferred shares.
When William Vander Zalm was running for premier of British Columbia last year, he revealed few specific plans or policies. Instead, the charismatic Netherlands-born politician wooed voters with a broad smile and governing generalities.By JANE O’HARA7 min
For the brokers who trade on the world ’s stock markets, last week’s unprecedented crash meant a nightmarish struggle to salvage whatever they could of their clients’—and their own—fortunes. One such broker was David Doritty, 30, who for the past seven years has worked for Nesbitt Thomson Deacon Inc. in Toronto.
For the 3.2 million Canadians who play the stock market, last week’s collapse of share prices was a gutwrenching reminder of what stockbrokers casually call the “downside.” Over the past six years retired Montreal executive Arthur Love has seen the value of his investment portfolio grow fourfold.
Ever since a landmark September, 1985, meeting of the world’s top industrial nations in New York, political leaders have depended on a loose policy of co-operation to solve the trade and debt problems wracking the global economy. Since then, the United States, Germany, Japan, Britain, France, Italy and Canada have pledged to act unselfishly and adopt domestic policies that will in turn help the economies of their fellow nations.
He resembles a wounded hero in a revolutionary war. Dressed in a waistcoat and laced knee-high leather boots, the ponytailed singer marches around the stage to a steady drumbeat with one arm in a sling—the result of a fall. While his compatriots keep the tempo, he asks for a volunteer from the audience to join them on guitar, quickly enlisting an eager young man in the front row.By NICHOLAS JENNINGS6 min
Grinning and waving for the cameras, hollering over a helicopter engine, quipping cheerfully at a news conference: that was the Ronald Reagan the world saw last week, an old trouper still going through the motions that once typified his seemingly effortless power as president.
The grim battle for the Sri Lankan rebel stronghold of Jaffna raged on last week, pitting more than 10,000 Indian troops against an estimated 2,500 Tamil Tiger guerrillas. Despite early predictions that the city of 150,000 on the Jaffna peninsula, at the northern tip of the island, would quickly fall, Indian officials admitted after two full weeks of fighting that they controlled only a third of it.
As Saudi Arabia's minister of foreign affairs, Prince Saud al Faisal al Saud has travelled extensively and enjoys a good rapport with many world leaders. A graduate of Princeton University, where he earned a B.A. in economics and political science, Prince Saud, 47, previously held the post of deputy minister for petroleum affairs in his country's ministry of petroleum and mineral wealth.
Next year, or the year after, there will be a federal election in Canada, and it will be all about free trade. With that election campaign, all hell will break loose; the voters will be so pumped up about free trade that the leaders’ haircuts may not be important, and it may not even matter if one of them clears his throat a couple of times in the big TV debate.By Charles Gordon5 min
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