In Wednesday's Americas papers

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

THE WALL STREET JOURNAL
Front Page

Shares finish strongly higher as Fed cut renews risk appetite
Asian stocks and currencies surged Wednesday in response to an aggressive Federal Reserve interest-rate cut, as the US central bank moved to limit the risk of an economic downturn and risk appetite in Asia was renewed.

Gates crafts long-term Iraq plan, with limited role for US forces
Defense Secretary Robert Gates sketched out a long-term vision for securing Iraq that includes a continuing American military force that is a fraction the size of the one there today, no permanent US bases and a significant Navy and Air Force presence in the Persian Gulf region.

Markets get a jump-start from Fed
If the Federal Reserve was hoping to shock financial markets back to life, it got its wish.

Money & Investing

For hedge funds, hunting in packs pays dividends
The world's biggest banking takeover battle began with a letter from a hedge fund with a heartwarming name: The Children's Investment Fund. TCI, as the fund is known, donates a chunk of its profits to charities helping orphans and AIDS victims.

Why firms like Smucker may feel pinch of debt crunch
When fruit-spread purveyor J M Smucker started buying mortgage-backed securities in 2004, they seemed like a safe way to diversify some of its investments.

Financials, property firms weigh on regional indexes
Most Asian-Pacific shares closed sharply lower Tuesday, with financial companies pacing decliners in Tokyo, Sydney and Shanghai, while Hong Kong property firms lost ground for a second day on profit-taking.

THE NEW YORK TIMES
Front Page

Migration reshapes Iraq’s sectarian landscape
A vast internal migration is radically reshaping Iraq’s ethnic and sectarian landscape, according to new data collected by thousands of relief workers, but displacement in the most populous and mixed areas is surprisingly complex, suggesting that partitioning the country into semiautonomous Sunni, Shiite and Kurdish enclaves would not be easy.

Languages die, but not their last words
Of the estimated 7,000 languages spoken in the world today, linguists say, nearly half are in danger of extinction and likely to disappear in this century. In fact, one falls out of use about every two weeks.

Business Day

Fed cuts rate half point, and stock markets soar
The Federal Reserve rolled out its most powerful interest rate weapon on Tuesday in a bid to stop the turmoil in housing and financial markets from bringing down the overall economy.

Will the Fed reverse the housing slump?
The Federal Reserve sent the stock market soaring yesterday. So can it stop the decline in home prices, too?

THE WASHINGTON POST
Front Page

Fed cuts key rate more than expected
The Federal Reserve cut a key interest rate yesterday in an aggressive attempt to keep turmoil in financial markets from damaging the overall US economy.

US working to reshape Iraqi detainees
The US military has introduced "religious enlightenment" and other education programs for Iraqi detainees, some of whom are as young as 11, Marine Major General Douglas M Stone, the commander of US detention facilities in Iraq, said yesterday.

Business

Searching passengers' faces for subtle cues to terror
Looking for signs of "stress, fear and deception" among the hundreds of passengers shuffling past him at Orlando International Airport one day last month, security screener Edgar Medina immediately focused on four casually dressed men trying to catch a flight to Minneapolis.

Investor advocate under scrutiny
Attorney William Lerach, one of the nation's most successful securities class-action lawyers, leaves the Bob Casey Federal Courthouse in Houston, Texas in February 2006 after federal prosecutors said he would not yet face charges after an investigation into alleged kickbacks in class-action security cases.

GLOBE AND MAIL, Canada
Front Page

Calls for Liberal shakeup dog Dion
Liberal Leader Stephane Dion tried Tuesday to beat back a chorus of criticism over three by-election losses in Quebec and demands for shakeups in his office and party headquarters.

Alberta plans firewall to halt pine beetles
While Alberta prepares to torch a large swath of forest including part of Banff National Park in the coming week to fend off an invasion by the mountain pine beetle, British Columbia is left to hope a new generation of trees will take off under the canopy of its vast dead woods.

Business

Oil demand unsated, even at $82
Sharply higher oil prices--which hit another record Tuesday--have failed to drive down demand or encourage new sources of supply, leaving global consumers increasingly dependent on the Organization of Petroleum Exporting Countries.

Bernanke's shock and awe
Stocks, gold and the Canadian dollar took off like a rocket yesterday after the U.S. Federal Reserve Board moved pre-emptively to avert a recession with a "shock and awe" jolt of interest rate relief. Ben Bernanke and nine Fed colleagues voted unanimously for the rate cut of half a percentage point amid persistent worries that a deepening credit crunch could derail the global economy.

BUENOS AIRES HERALD
Front Page

Capitanich squeaks in: 2,000 votes
Senator Capitanich won 46.84% of the vote to 46.45% for Rozas and said that he had already been congratulated by outgoing Radical Governor Roy Nikisch, although not by Rozas. Capitanich owed his triumph to political allies since the Peronist vote was barely a third of total ballots.

Steadying the N Rock
The British government yesterday tried to stem the tide of cash pouring out of Northern Rock building society, promising depositors they wouldn’t lose a penny as the bank’s share price plunged further and thousands queued to withdraw their savings.

Greenspan’s blues
In an interview timed with the release of his memoir, Greenspan sought to distance himself from Bush’s economic policies and refute critics who say his policies at the Fed contributed to the housing bubble and bust that is now ruining the economy.


By: Staff Reporter
+44 20 8652 3214



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