In Tuesday's America papers

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

Front Page

Discount rate is also on the Fed's table
When the Federal Reserve meets today, a cut in its main short-term interest-rate target, the federal-funds rate, won't be the only thing on the table. Officials will also have to decide what action to take on the lesser-known discount rate, at which banks borrow directly from the Fed.

Free IBM software is bid to challenge Microsoft Office
Resuming an old rivalry, International Business Machines is launching a software giveaway that takes aim at Microsoft on the office desktop.

E*Trade hit by mortgage turmoil
E*Trade Financial, known for providing cheap trades to individual investors, said it expects profit for the year to fall 31% short of the most recent guidance given to analysts - partly because of the company's exposure to the mortgage business.

Money & Investing

Nasdaq weighed partial sale to aid deal
The Nasdaq stock market has considered selling a piece of itself to an overseas investor such as Dubai or Qatar to help it clinch its own deal to purchase Nordic exchange operator OMX AB, according to people familiar with the matter.

Goldman Sachs, China partner discuss a split
Goldman Sachs and its investment-banking partner in China are in discussions about parting ways, potentially ending the tie-up that gave the Wall Street firm its entry into a major market for new-share issues and raising questions about control of Goldman's business there.

Crude oil hits another record high
US crude-oil futures chalked up a record high above $81 a barrel on Tuesday in Asia, as traders repositioned themselves ahead of a closely watched Federal Reserve policy meeting that could shore up the medium-term outlook for global energy demand.

Front Page

Wary of past, Clinton unveils a health plan
Senator Hillary Rodham Clinton unveiled a plan on Monday to guarantee health insurance to all Americans but in a way carefully designed to avoid the political flaws in her failed proposal of 1993-1994.

US contractor banned by Iraq over shootings
Blackwater USA, an American contractor that provides security to some of the top American officials in Iraq, has been banned from working in the country by the Iraqi government after a shooting that left eight Iraqis dead and involved an American diplomatic convoy.

Business Day

Microsoft ruling may Bode ill for other companies
Europe’s second-highest court delivered a stinging rebuke to Microsoft on Monday, but the impact of the decision upholding an earlier anti-trust ruling may extend well beyond the world’s largest software maker to other high-technology companies.

Guilty plea is expected in kickbacks at law firm
The securities lawyer William Lerach is expected to plead guilty today to a criminal conspiracy charge in connection with a class-action scheme involving his former firm, now known as Milberg Weiss, several people with knowledge of the plea agreement said yesterday.

Front Page

With justice pick, Bush hopes to avoid a fight
President Bush opted to try to avoid a confirmation fight by nominating Michael Mukasey to be attorney general, concluding that the retired federal judge shares his approach to national security issues but without the appearance of partisanship, administration officials and others close to the White House said yesterday.

Iraq bans security contractor
The Iraqi government on Monday said it had revoked the license of Blackwater USA, an American security company involved in a shootout in Baghdad that killed at least nine people, raising questions over which nation should regulate tens of thousands of civilian hired guns operating in Iraq.


Plaintiff lawyer to plead guilty to conspiracy
William Lerach, one of the nation's best known and wealthiest plaintiff lawyers, is preparing to plead guilty as early as today to a single criminal conspiracy charge that could send him to prison for up to two years, according to sources familiar with the case.

SEC pressed to require climate-risk disclosures
One of the industries considered most vulnerable to climate change is the insurance industry, with shifting weather patterns threatening property in the nation's most hurricane-prone areas.

Front Page

Tories steal seat from Bloc as Liberals lose Outremont
Stephane Dion suffered a by-election blow on Monday that is expected to cast a shadow over his leadership as the Liberals lost their Outremont stronghold to the NDP and reports of new in-fighting emerged inside his party.

Harper ready to spurn China by meeting with Dalai Lama
Prime Minister Stephen Harper plans to meet the Dalai Lama next month in an official encounter on a government site that will irk Chinese officials who view the Buddhist leader as a subversive enemy, sources say.


CRTC airs idea of media limits
Canada's biggest media companies have been asked to consider the prospect of new limits on the number of broadcast outlets they can own, which would freeze future industry consolidation in its tracks for several of them.

Front Page

Chubut sees Peronist win, Chaco draws
Chubut province saw a much less balanced result. Mario das Neves overwhelmed the other candidates with some 65% of the vote. The Chaco result was surprising.

France contemplates war with Iran
Seeking to ratchet up the pressure on Iran, Kouchner also told RTL radio and LCI television that the world’s major powers should use further sanctions to show they were serious about stopping Tehran getting atom bombs, and said France had asked French firms not to bid for tenders in the Islamic Republic.

Karamanlis takes the most votes
The slimmer majority could make it harder for the government to carry out crucial economic and education reforms, including overhauling Greece’s fractured and debt-ridden pension system.

By: Staff Reporter
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