In Thursday's Americas papers

24 May 2007 15:16  [Source: ICIS news]

THE WALL STREET JOURNAL

Front Page

 

Globalisation widens income disparity

The globalisation of commerce promised to be a boon to low-wage workers in developing nations a decade ago. But the reality is that the gap between economic haves and have-nots has frequently widened, not only in wealthy countries like the US but also poorer ones like Mexico and China.

 

US, China reach co-operation deals

Economic talks with China ended with only a short list of results, including new air routes between the US and China. The US failed to secure a pact to combat copyright piracy or win concessions on the yuan.

 

Chinese investors take stock of lucky numbers

Part superstition and part self-fulfilling prophecy, numerology is a basic stock-trading strategy in China - and helps explain why Beijing has been unable to temper enthusiasm in the stock market through conventional measures.

 

Money & Investing

 

Xinhua finance questions mount

S&P and Moody's are reviewing their debt ratings for Xinhua Finance, amid a shareholder suit against the firm.

 

Goldman takes "private" equity to a new level

Goldman Sachs is creating its own private system to trade the stocks of companies that do not want the scrutiny and regulatory burdens of going public.

 

Tiffany investors bet on Peltz's polish

Tiffany is sparkling again, courtesy of Wall Street blingmeister Nelson Peltz, and some analysts and investors say the stock still has room to rise.

 

THE NEW YORK TIMES

Front Page

 

Insurers agree to pay billions at Ground Zero

The agreement ends a long legal battle and ensures that $4.55bn (€3.37bn) be available for rebuilding the World Trade Center site.

 

Ex-justice aide admits politics affected hiring

Monica Goodling said that she had “crossed the line” in considering the political beliefs of Justice Department applicants.

 

Business Day

 

Big law firm won’t face criminal charges in tax case

A ruling by a federal appeals court yesterday (Wednesday) could jeopardise a criminal case against former employees of the accounting firm KPMG a case that has been cited by prosecutors as the showpiece of a broad investigation into the sale of questionable tax shelters that helped wealthy investors evade billions of dollars in taxes.

 

A Japanese export: talent

Japan’s once vaunted electronics industry has downsized to survive global competition and is inadvertently setting off a brain drain. Thousands of Japanese engineers and other industry professionals have gone to Taiwan, South Korea and China to seek work at aggressive, fast-growing companies that want to use Japanese technological expertise.

 

GLOBE AND MAIL, Canada

Front Page

 

School shooting shocks Toronto

Toronto's plague of gun violence, which simmered in recent months through a steady rattle of street shootings, tore into a North York school on Wednesday, leaving a teenager dead and a city stunned.

 

Stop trains or natives will: chiefs

Canada's native chiefs will pressure the national railways to close down for the Assembly of First Nations' "day of action" on 29 June, backing it up with a veiled threat they will probably face blockades from individual native bands if they refuse.

 

Business

 

Global economy on a roll but inflation lurks: OECD

The global economy is doing better than for years as red-hot Chinese growth combines with comebacks by Europe and Japan to offset a US slowdown, the Organization for Economic Co-operation and Development said on Thursday.

 

Alcoa taps top gun in Alcan bid

It has been almost four years since Alcan launched a hostile takeover bid for Pechiney, eventually gobbling up the French aluminium producer in merger. Now, the former head of Pechiney is on the other side of the bargaining table, aiding industry giant Alcoa in its hunt for Alcan.

 

BUENOS AIRES HERALD

Front Page

 

Roca-bye rails

President Néstor Kirchner yesterday (Wednesday) seized two suburban train services and put them under state control. A presidential decision terminated the concession of two train lines run by Trenes Metropolitans.

 

De Vido deputy resigns

A top public works official resigned yesterday (Wednesday) after being linked to a probe into bribery allegations involving officials of President Néstor Kirchner’s government in the so called Skanska case.

 

($1 = €0.74)

By: Staff Reporter
+44 20 8652 3214

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