In Tuesday's Americas papers

10 July 2007 13:00  [Source: ICIS news]

THE WALL STREET JOURNAL

 

Front Page

 

Privilege fight holds risk for Congress

A looming constitutional showdown over the White House's right to shield internal communications may pose less risk to President Bush, who is resisting subpoenas from Congress, than to lawmakers faced with deepening public discontent.

 

In a tech backwater, a profit fortress rises

Erik Soule had been waiting 15 months for this moment. The semiconductor engineer was about to launch a new chip, and he needed his pricing approved. In a conference room at Linear Technology Corp, Soule anxiously explained why his amplifier chip is so advanced that it should sell for $1.68 (€1.22), a third more than its rivals.

 

Labour shortage pinches Eastern Europe

In recent years, global car makers have flocked to Slovakia, attracted by the Eastern European country's plentiful supply of cheap, skilled labour. But this year, when Kia Motors Corp needed extra workers at its local car plant, it had to place fliers in local newspapers and mailboxes urging residents to apply.

 

Money & Investing

 

Moody's faces the storm

Short sellers love to target companies heading into financial turmoil. Now, some of those investors who bet on a stock's decline are targeting a company that is paid to spot financial problems before they occur: Moody's Corp.

 

Why a billionaire lost on Wall Street?

The billionaire co-founder of Subway, the fast food chain known for promoting the slimming effects of its sandwiches, charged that the brokerage house of UBS slimmed down his bankroll by more than $190m (€138.7m) because of a big bet on tech stocks after the stock market bubble burst.

 

The junkyard dogs investors

Investing in mutual funds holding “junk” may be getting costlier. Prices for so-called junk, or high-yield, bonds have fallen in recent weeks, partly thanks to rising yields on safer bonds, like Treasurys.

 

THE NEW YORK TIMES

 

Front Page

 

With pressure put on Hamas, Gaza is cut off

In the month since Hamas took over Gaza, the 1.5m Palestinians there have become more isolated than ever, supplies and jobs slipping away as its rival, Fatah, is backed by Israel and the West, presses Hamas.

 

US envoy offers grim prediction on Iraq pullout

As the Senate prepares to begin a new debate this week on proposals for a withdrawal from Iraq, the US ambassador and the Iraqi foreign minister are warning that the departure of American troops could lead to sharply increased violence, the deaths of thousands and a regional conflict that could draw in Iraq’s neighbours.

 

Business Day

 

Google buys a manager of e-mail

Taking further aim at one of Microsoft’s core franchises, Google said Monday that it would acquire the e-mail security and management company, Postini Solutions, for $625m (€456m) in cash.

 

Delphi drops financing deal

The Delphi Corp, the large auto supplier, said today that it had terminated a $3.4bn (€2.4bn) financing plan to bring the company out of bankruptcy protection but that it expected to sign a new deal this month.

 

THE WASHINGTON POST

 

Front Page

 

Bush plans to stress next phase in Iraq war

President Bush, facing a growing Republican revolt against his Iraq policy, has rejected calls to change course but will launch a campaign emphasising his intent to draw down US forces next year and move toward a more limited mission if security conditions improve, senior officials said yesterday.

 

Gonzales was told of FBI violations

As he sought to renew the US Patriot Act two years ago, Attorney General Alberto R Gonzales assured lawmakers that the FBI had not abused its potent new terrorism-fighting powers. “There has not been one verified case of civil liberties abuse,” Gonzales told senators on 27 April 2005.

 

Business

 

Carlyle's shopping spree continues

The Carlyle Group, the District private equity giant, continued its recent acquisition spree yesterday with a $2.7bn (€1.97bn) deal for Sequa, a manufacturer of as diverse a group of products as pumps that inflate automobile airbags and After Six tuxedos.

 

Guilty plea puts pressure on firm

A former official at the Milberg Weiss law firm pleaded guilty yesterday to a conspiracy charge, significantly advancing a criminal investigation against one of the nation's largest class action firms and its top partners.

 

GLOBE AND MAIL, Canada

 

Front Page

 

Day pleads with Mounties to back new boss

Public Safety Minister Stockwell Day pleaded with RCMP members in a personal e-mail to support their new commissioner, saying that William Elliott may not know what it feels like to have “a hardened criminal stare him in the face” but he does know how to assess threats to national security.

 

Celil appeal rejected by Chinese court

In a brief and perfunctory hearing Tuesday, a Chinese court has rejected an appeal by Huseyin Celil, the Canadian Muslim religious leader who was convicted of “separatist activities” in China.

 

Business

 

Home Depot cuts outlook, blames slump in US housing market

Home improvement retailer Home Depot cut its 2007 earnings outlook on Tuesday, citing weakness in the US housing market and said it was launching a tender offer for 250m shares. Home Depot said it expected 2007 earnings per share to fall 15% to 18% from a year earlier, to a range of $2.30 (€1.60) to $2.36 per share.

 

Loonie has Canucks eyeing US for cars

The surging dollar has sent a record number of Canadians looking for a new or used car bargain south of the border, says the North American Automobile Trade Association.

 

BUENOS AIRES HERALD

 

Technical issues prevented the loading of the Buenos Aires Herald website on Tuesday.

 


By: Staff Reporter
+44 20 8652 3214



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