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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - July 21, 1973, Lethbridge, Alberta Canada-Brazil Investment Brascan Ltd. of Toronto has a two-tthirdt Interest In million hotel being built on the outskirts of Rio de Janeiro. It is scheduled to open next year. Brascan is the largest foreign private firm operating in Brazil and heads the list of a number of Ca- nadian companies with operations there. Round building in background is another hotel owned by Brazilian interests. _______________________________ Economic slowdown will affect merchandisers By SANDRA 1NGA1SBE TORONTO (CP) Mer- chandisers will be among the first industries affected by an economic slowdown and in- vestors should re-evaluate bold- ings is these stocks, Baboon's says in its Canadian Investment Letter. Hie investment firm says it current prosperity to continue for some months but titat a number of factors point to an economic slowdown possi- bility by mid-1974. "Consumer spending could begin to con- tract even before then." The most visible factors in- clude rising interest rates. "The rate of increase of the money supply is also declining and we would not be surprised if consumer credit offered by banks and other financial in- stitutions begins to shrink." Babson's says the predicted slowdown win probably not be as severe as the one ex- perienced in 1969 and 1970 when the growth rate of department store sales dropped to five per cent in 1970 from 13 per cent in 1969, nor will it affect all in- dustries at the same time and to the same degree. ____ HEAD FOR DISCOUNTERS During the last recession, consumers tended to shop at discount stores rather titan tra- ditional department stores, with the result that feofte of