In Friday's Americas papers

14 September 2007 12:12  [Source: ICIS news]

THE WALL STREET JOURNAL
Front Page

President sees "enduring" role for US in Iraq
President Bush set the stage for a reduced but continuing US engagement in Iraq, opening a debate over whether the US is making an essentially open-ended commitment there.

UK central bank to offer support to mortgage lender Northern Rock
In one of the highest-profile instances of a central bank coming directly to the rescue of a commercial bank in the current credit crisis, the Bank of England agreed to provide emergency funding to Northern Rock PLC, the UK's fourth-largest mortgage lender.

Goldman Hedge fund had worst month in August
For years, Goldman Sachs flagship Global Alpha hedge fund could do no wrong. Over the past year, it has been able to do almost nothing right.

Money & Investing

Marking down Wall Street
For the past three tumultuous months, investors have found it difficult, and sometimes impossible, to price many exotic financial instruments hard-hit by sub-prime turmoil.

Wall Street banks face a tall order
Wall Street banks have begun the task of finding buyers for more than $350bn of leveraged-buyout-related debt, and it is becoming clear what a tall order it is going to be.

Faster Hong Kong filings
When Warren Buffett cut Berkshire Hathaway stake in PetroChina last month, his disclosure was sent across the Pacific through regular mail and investors didn't find out for two weeks.

THE NEW YORK TIMES
Front Page

Success allows gradual troop cuts, Bush says
President Bush contended on Thursday night that his plan to begin withdrawing some troops from Iraq gradually was based on a principle he called "return on success", saying that progress made so far could be squandered by the deeper and speedier reductions that the war’s opponents have demanded.

Warning signs and defining economic moments
When Annie Cox is unsure if the economy is headed south - a question on the minds of many on Wall Street and Main Street these days - she keeps an eye on the orders for beverages at the diner she runs in Oklahoma City.

Business Day

British mortgage lender offered emergency loan
The Bank of England has offered an emergency loan to Northern Rock after the mortgage lender became the biggest British casualty of the credit squeeze sparked by the crisis in the US sub-prime mortgage market.

Rental building’s good karma nurtures success
The building at 165 University Avenue here has been so good to the Amidi family that Saeed Amidi says it is blessed with good karma. There are some high-technology entrepreneurs who would agree.

THE WASHINGTON POST
Front Page

Bush tells nation he will begin to roll back "surge"
President Bush tried to turn a corner in the fractious debate over Iraq last night by ordering the first limited troop withdrawals since voters elected an anti-war Congress last year. But the move did little to appease Democratic leaders, who dismissed it as a token gesture masking an open-ended commitment of US troops.

The president asserted progress on security and political issues
In his speech last night, President Bush made a case for progress in Iraq by citing facts and statistics that at times contradicted recent government reports or his own words.

Business

Union picks GM to lead contract talks
Labour talks in Detroit intensified yesterday, with the United Auto Workers selecting General Motors as lead company in contract negotiations that analysts and auto officials say could determine the survival of the Big Three automakers.

Reaching his prime time in Afghanistan
The head of a burgeoning Afghan media empire looked down at his new BlackBerry, vibrating against a table in Washington earlier this week. "Afghan civilians injured in Gereshk suicide bombing", read the e-mail headline.

GLOBE AND MAIL, Canada
Front Page

Citing success, Bush pledges modest troop withdrawal
Asserting that the war in Iraq is being won and pleading for patience from weary Americans at home, US President George W Bush promised Thursday night that some troops would soon come marching home.

Quebec man held in alleged Austrian bomb plot
He lived in a small town and married a local waitress. Somehow, a 34-year-old man from the Mauricie region of Quebec has been arrested in relation to an alleged plot to set off a car bomb in Austria.

Business

Bank of England bails out mortgage lender Northern Rock
Credit markets took another hit as the Bank of England bailed out Britain's biggest casualty so far in the global credit crunch, while central bankers differed over the best way to restore liquidity to money markets.

Oil prices fall below $80 in early trading
Oil prices fell Friday amid profit taking after closing at a record high the previous session on supply concerns.

BUENOS AIRES HERALD
Front Page

Hawkish US ally Abe resigns
The hawkish Abe, who took office promising to boost Japan’s global security profile, had seen his clout dwindle after a drubbing in Upper House elections in July but the announcement came as a bolt out of the blue.

"Castro saved Reagan’s life"
In the essay published yesterday in the Communist Party daily Granma, Castro wrote that a Cuban security official stationed at the UN told US mission security chief Robert C Muller about an extreme right-wing group that was planning to assassinate Reagan during a planned trip to North Carolina in 1984.

Trouble afoot in K-land again
Adela Gomez of Radio XXI in Caleta Olivia was covering the demonstration by employees of EMPASA, an oil industry services company. She was shot twice in the foot and had to be taken to a hospital.


By: Staff Reporter
+44 20 8652 3214



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