In Tuesday's Americas papers

11 September 2007 12:00  [Source: ICIS news]

THE WALL STREET JOURNAL
Front Page

Petraeus pledges modest pullout but little more
The two top US officials in Iraq sketched out a plan to end the troop surge by next summer but they left unanswered questions about how quickly the pullout would proceed beyond July and how US strategy might shift if Iraq's civil war continues.

Clinton to return cash Hsu raised
Senator Hillary Clinton will return $850,000 in campaign contributions raised by a major fundraiser who has come under federal investigation on multiple fronts.

August divergence: Markets go up but hedge funds go down
Hedge funds turned in their worst month in more than a year in August - as credit runch induced volatility racked markets. And many of the problems were their own doing.

Money & Investing

Bear Stearns in bull's eye
Bear Stearns chief executive James Cayne often says that for the right price Bear is for sale. Now, with the firm's share price at its lowest point in two years, an aggressive buying spree has made British financier Joseph Lewis the single biggest investor in the company - raising questions about Bear's ability to remain independent.

WaMu, Wachovia expect more fallout
Washington Mutual chief executive Kerry Killinger warned that the company anticipates a continued rise in bad loans, which will take a toll on WaMu's earnings.

KKR buyout terms may set the standard
The truce private-equity giant Kolhberg Kravis Roberts has reached with its bankers on the financing of First Data could provide the model for other deals coming to market over the next few weeks.

THE NEW YORK TIMES
Front Page

Petraeus warns against quick pullback in Iraq
General David Petraeus, the senior American commander in Iraq, warned in stark terms against the kind of rapid pullback favoured by the Democratic majorities in the House and Senate, in a day of testimony on Monday that drove home the continuing inability of the Democrats to force a change in strategy in Iraq.

General proposes bigger role in protecting Iraqis
Under the timetable embraced Monday by General David Petraeus, the number of American combat brigades would decline by one-fourth by next summer, to 15 in July from 20 now, with the prospect of deeper, if as yet unscheduled, reductions to come.

Business Day

An opportunity for Wall Street in China’s surveillance boom
Li Runsen, the powerful technology director of China’s Ministry of Public Security, is best known for leading Project Golden Shield, China’s intensive effort to strengthen police control over the Internet.

Why lead in toy paint? It’s cheaper
When Mattel, the world’s largest toy maker, announced its third recall in six weeks this month, the company asked consumers to return toys because they contained dangerously high levels of lead paint.

THE WASHINGTON POST
Front Page

Petraeus backs initial pullout
Army General David Petraeus told Congress yesterday that the deployment of 30,000 more troops to Iraq has made enough progress that the additional combat forces can be pulled out by next summer but he cautioned against "rushing to failure" with a larger and speedier withdrawal.

Clinton's campaign to return $850,000
Senator Hillary Rodham Clinton announced last night that she will return $850,000 in campaign donations solicited by Norman Hsu, severing ties with a top fundraiser who was jailed last week after attempting to flee from criminal charges in California.

Business

Mortgage mess unleashes chain of lawsuits
When something goes badly on Wall Street, people wind up in court. And the sub-prime mortgage mess is no exception.

Panel urges more scrutiny over imports
The country's import-safety system has not kept pace with an increase in foreign goods, a panel appointed by President Bush said yesterday. Federal agencies should do a better job of co-ordinating oversight, the panel said, though it stopped short of calling for a single agency to oversee imports.

GLOBE AND MAIL, Canada
Front Page

PM launches blow at Senate
Canada's prime minister stood in the Parliament of Australia on the anniversary of the 9/11 terrorist attacks to talk about the close ties between the two nations and the "noble and necessary" responsibility they share for making the world a safer place.

Commission talks dredge up Quebeckers' ire toward minorities
Muslims, Jews, gays, Anglophones, evangelical Christians and immigrants in general. All were singled out in a negative light Monday night at the opening session of a commission into what Quebeckers think is unreasonable accommodation of minorities.

Business

Magna turns to Japan to boost Asian presence
Magna International will open its first manufacturing plant in Japan later this decade as part of a push to generate 10% of its global sales from Asia-based auto makers by the end of the decade, President Mark Hogan says.

Flaherty's solution rebuked by Quebec
Quebec's Finance Minister lashed out at her federal counterpart Jim Flaherty yesterday for suggesting the August credit crunch offers indisputable proof that Canada needs a single securities regulator to safeguard capital markets.

BUENOS AIRES HERALD
Front Page

"K’s phone was off the hook"
Until the last hours before the deadline on Saturday midnight, politicians fiercely attempted to force their supporters onto the tickets but the president did not answer phone calls, closing the door on the discussions on lists he had drawn up - which left many hopefuls out of the Congress race.

Iraqi mass murderer killed by US
"On September 3, a coalition air strike killed the terrorist responsible for the planning and conducting of the horrific attack against the Yazidis in northern Iraq on August 14," military spokesman Rear Admiral Mark Fox told a news conference.

ETA to stick to its terror strategy
In its first communique since the end of a 14-month ceasefire in June, ETA said the peace process launched by Spanish Prime Minister Jose Luis Rodríguez Zapatero offered no political solutions and only sought the group’s surrender.


By: Staff Reporter
+44 20 8652 3214



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