In Friday's Americas papers

25 May 2007 13:14  [Source: ICIS news]

THE WALL STREET JOURNAL

Front Page

 

South Dakota farm community tracks a gorilla

The mystery of the Gorilla - a multibillion-dollar manufacturing operation that a highly secretive backer wants to build - has turned some South Dakota residents into sleuths, swapping titbits and following leads on the internet.

 

Pipeline thefts cripple Iraqi oil production

The US Army has linked the theft of petroleum from Iraq's network of pipelines to insurgents, black-market sales and unofficial refineries. The theft has all but crippled production in Iraq's northern oil fields.

 

Ageing Japan warms to foreign works

As Japan is swept by drastic changes in its population and economy, the country is shaking off some of its traditional reluctance to allow more foreign workers into the country, and easing its labour shortage in the process.

 

Money & Investing

 

Lifting the veil on tax risk

Hundreds of companies could owe tens of billions of dollars in back taxes, newly required regulatory disclosures show.

 

Wall Street gets bearish about... itself

Brokerage firms posted record profits in recent years, but this quarter was marked by weakness in the mortgage market and some business leaders believe that the current boom in commodities trading may have peaked.

 

Tribune faces a steep climb to going private

Tribune completed a tender offer for half its shares, but the media company had to agree to difficult borrowing terms.

 

THE NEW YORK TIMES

Front Page

 

Immigration bill provisions gain wide support in poll

As opponents from the right and left challenge an immigration bill before Congress, there is broad support among Americans - Democrats, Republicans and independents alike - for the major provisions in the legislation, according to the latest New York Times/CBS News poll.

 

Congress passes war finds bill, ending impasse

The measure does not set a date to withdraw troops but sets benchmarks for the Iraqi government to meet.

 

Business Day

 

China’s leaders confront their manic market

Central bankers can curb irrational exuberance among stock market investors. Statesmen with international credibility preferred. One of the biggest challenges for Chinese leaders these days lies in when and how to rein in the country’s soaring stock market and, just as important, whom to pick as the next governor of the central bank.

 

Coca-Cola is said to buy Vitaminwater

Directors of the Coca-Cola Company last night approved the purchase of Glaceau, the maker of Vitaminwater, for $4.2bn (€3.1bn) in cash and Coke stock, according to an executive involved in the negotiations.

 

THE WASHINGTON POST

Front Page

 

House, Senate pass Iraq war funding measure

Bill funding the Iraq war passes both chambers; Democrats declare lack of timelines for troop withdrawal is just a temporary setback.

 

Shiite cleric gives fiery sermon

After several months in hiding, Moqtada al-Sadr addresses worshipers at Baghdad mosque.

 

Business

 

New home sales data offers ray of hope

Sales of new homes surged in April, but builders had to slash prices in effort to shake effects of a lingering downturn in the real estate market.

 

Real estate discussion

The Washington Post's Maryann Haggerty goes live online to respond to your questions and concerns about the local housing market.

 

GLOBE AND MAIL, Canada

Front Page

 

PQ throws down gauntlet on Charest's tax cut

Quebec's Liberal minority government faces defeat within one week as opposition parties line up against proposed $950m (€706m) budget measure.

 

Canadians lead major assault on the Taliban

Operations begun at dawn on Friday designed to flush out militants believed to be in an area only a few kilometres from where the prime minister visited on Wednesday.

 

Business

 

Coca-Cola buys energy drink maker glaceau

Soft-drink maker Coca-Cola Co. said Friday it will buy Vitaminwater maker glaceau for $4.1bn (€3.05bn) in cash, in a move to expand its non-carbonated beverage line.

 

Sherritt's chairman laments Canada's fading status

Canada has squandered its title as the centre of global mining finance, says the chairman of Sherritt International Corp, who warned that only a Herculean effort on Ottawa's part to stimulate investment will reverse the decline of the storied Canadian industry.

 

BUENOS AIRES HERALD

Front Page

 

Shake hands, come out swinging

Candidates for the 3 June Buenos Aires City mayoral race Mauricio Macri, Jorge Telerman and Daniel Filmus face off in last night’s TV debate presenting their own and picking at their rivals’ platforms on social inclusion, industrial profile, security, education, health and transportation.

 

Argentina summons US envoy

The US State Department travel advice to Argentina-bound citizens has caused outrage among Argentine authorities and resulted in the summons of the US ambassador Earl Wayne to the Foreign Ministry last night so that Argentina could communicate its "displeasure" over the report.

 

Missing GI’s body found?

The US military is examining a body found in the Euphrates river yesterday that the Iraqis believe is one of three US soldiers who were seized in an ambush on 12 May. Four US troops and an Iraqi soldier were killed in the attack.

 

($1 = €0.74; $1 = C$1.08)

By: CMR Website Helpdesk - Rest of World

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