In Wednesday's Americas papers

11 July 2007 13:44  [Source: ICIS news]

THE WALL STREET JOURNAL

 

Front Page

 

Electronics giant seeks a cure in healthcare

When Gerard Kleisterlee took over as chief executive of Royal Philips Electronics NV, Europe's storied consumer-electronics giant was facing one of the most difficult moments in its 116-year history. It was 2001, and the televisions and compact disc players that made Philips a household name were under assault from cheaper Asian clones.

 

Ratings cuts rattle investors

The widening meltdown in the sub prime-mortgage market caught up with the nation's two big debt-rating companies yesterday, with Standard & Poor's and Moody's announcing plans to downgrade hundreds of bonds backed by the risky home loans.

 

Nintendo DS goes to school in Japan

The Nintendo DS marks an unusual shift in the culture of gadgets in Japan: People are clamoring for it not just for games, but also for reference guides, digital books and study tools.

 

Money & Investing

 

China Inc runs the bulls

Many Chinese corporations are putting piles of cash into local stocks, fueling the bull market and their own profits. But the enthusiasm in corporate boardrooms for stock investing creates the potential for a nasty fallout if the market turns sour.

 

Behind a Bear analyst's sub prime call

As the market for risky home loans was beginning to implode in February, Bear Stearns analyst Gyan Sinha hosted a conference call for 900 investors, telling them they had little to worry about. Unfortunately, there was a lot to worry about.

 

Housing fears push blue chips down by 148.27

After flirting on Monday with its first record finish in a month, the Dow Jones Industrial Average plunged 148.27 points amid fears of a fallout from the ailing housing market.

 

THE NEW YORK TIMES

 

Front Page

 

Surgeon general sees four-year term as compromised

China executed its former top food and drug regulator on Tuesday for taking bribes to approve untested medicine, as the Beijing leadership scrambled to show that it was serious about improving the safety of Chinese products.

 

McCain campaign drops top aides; new doubts rise

The departure of two aides left Senator John McCain’s campaign team gutted and raised new doubts about his ability to continue in the race.

 

Business Day

 

Can’t sell your home? Maybe it’s priced too low

Given that the real estate market is supposed to be in freefall, some strange things have been happening recently in Mill Valley. It is one of the expensive suburbs of San Francisco just over the Golden Gate Bridge, and much of the housing market there seems to be doing just fine.

 

Rate agencies move towards downgrading some mortgage bonds

The slumping housing market again rattled the bond market yesterday. Standard & Poor’s, the credit rating firm, said that it would tighten the standards it used to rate bonds backed by sub prime mortgages, a tacit acknowledgment that it might have been too optimistic about the housing market.

 

THE WASHINGTON POST

 

Front Page

 

In GOP, growing friction on Iraq

Facing crumbling support for the war among their own members, Senate Republican leaders yesterday sought to block bipartisan efforts to force a change in the American military mission in Iraq.

 

Top aides leave McCain camp

In the mid-1990s, years before Sen John McCain officially launched his first bid to become president, it was John Weaver who convinced the senator that he had all the ingredients to win the GOP nomination and the Oval Office.

 

Business

 

China executes former head of food, drug safety

Moving to address mounting concerns about the safety of its exports, China announced Tuesday that it had executed the former head of its food and drug safety agency for accepting bribes in exchange for approving substandard medicines.

 

Inflation as a state of mind

The steep rise in oil prices in recent years has not triggered either high inflation or a recession, in large part because consumers and businesses expect price increases to remain tame, Federal Reserve Chairman Ben S Bernanke said yesterday.

 

GLOBE AND MAIL, Canada

 

Front Page

 

Four jailed for life in failed London bombings

A judge on Wednesday sentenced four men to life in prison for attempting to bomb London's transit system in July 2005; just two weeks after suicide bombers killed 52 commuters in the city.

 

Black jury goes back to work

Jurors in the Conrad Black trial appear to be close to ending their deliberations and some lawyers expect verdicts as early as Wednesday.

 

Business

 

Targeted tax breaks don't cut it, institute says

Canadian governments are littering the tax system with targeted breaks for special interests instead of enacting across-the-board cuts that benefit all - a trend critics say is doing little to defray the high cost of doing business.

 

Paramedics were never warned of deadly gas

A consultant who was the only witness to a bizarre accident where four people suffocated and collapsed into a southern BC mine testified that he didn't fully warn two paramedics before they headed in, at a coroner's inquest Tuesday.

 

BUENOS AIRES HERALD

 

Front Page

 

Backing for Miceli, Picolotti

President Nestor Kirchner yesterday made a public show of support for Economy Minister Felisa Miceli - being investigated after the discovery of a bag full of cash in her office washroom - and his government also defended Environmental Secretary Romina Picolotti against charges of malfeasance and fraud.

 

Iraqi leaders: US, stay!

Iraqi leaders warned yesterday the country could collapse if US troops leave too quickly as pressure mounts in Washington to draw down its combat forces. More pressure on Iraqi stability could be looming with reports of a huge massing of Turkish forces that could pour across the border to chase Kurdish rebels.

 

Red mosque stormed

Pakistani security forces launched an operation this morning (Tuesday) to clear a radical mosque of militants. Twenty children escaped from the compound in the initial attack. “An intense engagement is going on with the militants,” a military spokesman said.

 


By: Staff Reporter
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