In Thursday's Americas papers

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

THE WALL STREET JOURNAL
Front Page

Nasdaq, Borse Dubai reach takeover deal for OMX
Nasdaq Stock Market and Borse Dubai on Thursday agreed to a three-way deal for OMX AB, bringing an almost two-month battle for the Nordic stock-exchange operator close to an end.

Credit markets show revival after rate cut
The Federal Reserve's rate-cut medicine revived corporate debt markets yesterday, as the Bush administration sought to give the nation's weakened housing market a boost by backing modest expansions in the powers of mortgage giants Fannie Mae and Freddie Mac.

Euro tops $1.40 for first time
The euro hit a new all-time high against the US dollar on Thursday, trading above $1.40 for the first time since the common European currency was introduced.

Money & Investing

Emerging markets and oil bubble up
Now that the fallout from the downturn of the housing-loan market has prompted the Federal Reserve to cut interest rates, the race is on to find the next bubble.

Civil charges are expected in probe of stock lending
Federal authorities are expected to file civil charges against current or former employees at several brokerage firms in connection to a years-long investigation into abusive stock lending, people familiar with the matter said.

Korea, Taiwan keep emerging-market status but FTSE says upgrade imminent
FTSE left the two largest destinations of emerging-market investments, South Korea and Taiwan, untouched in its latest review of market index designations, but executives said money managers need to start preparing for them to be upgraded to developed-market status.

THE NEW YORK TIMES
Front Page

Effort to shift course in Iraq fails in Senate
A proposal that Democrats put forward as their best chance of changing the course of the Iraq war died on the Senate floor on Wednesday, as Republicans stood firmly with President Bush.

NBC to offer downloads of its shows
NBC Universal said yesterday that it would soon permit consumers to download many of NBC’s most popular programmes free to personal computers and other devices for one week immediately after their broadcasts.

Business Day

Dubai to buy large stake in Nasdaq
The government-controlled stock exchange in Dubai, the fast-growing Middle East business centre, is expected to announce today in Stockholm that it plans to take significant ownership in the Nasdaq stock exchange in New York and the London Stock Exchange, people who have been briefed on the transaction said last night.

Deal to buy Sallie Mae in jeopardy
The consortium that had agreed to buy Sallie Mae for $25bn plans to return to the negotiating table and seek a lower price, people close to the group said yesterday. If the group fails, it may move to scuttle the deal.

THE WASHINGTON POST
Front Page

Longer leaves for troops blocked
Senate Republicans yesterday rejected a bipartisan proposal to lengthen the home leaves of US troops fighting in Iraq and Afghanistan, derailing a measure that war opponents viewed as one of the best chances to force President Bush to accelerate a redeployment of forces.

Where military rules don't apply
Blackwater USA, the private security company involved in a Baghdad shootout last weekend, operated under State Department authority that exempted the company from US military regulations governing other security firms, according to US and Iraqi officials and industry representatives.

Business

Housing troubles dealt the Fed an unusual market
The decision by the Federal Reserve to cut a key interest rate by a half percentage point was spurred by concerns that the market's woes are far different from major meltdowns in recent years.

FDA approves FluMist for children ages 2 to 5
MedImmune has cleared a significant hurdle to revive its long-troubled nasal flu vaccine, announcing yesterday that the Food and Drug Administration had approved FluMist for children 2 to 5 years old.

GLOBE AND MAIL, Canada
Front Page

MacKay twists arms on troop strength
Defence Minister Peter MacKay dived into the thick of NATO's looming crisis over troop strength in Afghanistan yesterday, with a rapid tour of Canada's allies in the Netherlands, Britain and Norway, culminating in a meeting today with US Defence Secretary Robert Gates in Washington.

Locals slam Dion's handling of campaign
Stephane Dion spent six months searching for a star candidate to run in the Outremont byelection, a delay some Liberals suggest cost the party a safe seat in Quebec.

Business

Nasdaq and Borse Dubai become allies in stock market battles
Nasdaq Stock Market and Borse Dubai have reached a deal under which Nasdaq will take over Nordic bourse operator OMX AB, while Borse Dubai acquires just under 20% of Nasdaq and 28% of the London Stock Exchange.

BCE takeover faces regulatory delay
Canada's federal broadcast regulator is preparing to hold public hearings early next year into the proposed $35bn takeover of BCE, a move that could extend the closing of the deal until April, according to people familiar with the matter.

BUENOS AIRES HERALD
Front Page

Fed slashes key rates by half point
The Federal Reserve yesterday slashed US interest rates by a hefty half-percentage point in a bold bid to shield the economy from a housing slump and financial turbulence, sparking a big rally on Wall Street.

Court rejects Juez’ vote-by-vote count
She rejected his request, leaving the decision up to the Superior Electoral Tribunal. The court decision ends the opposition’s hopes of having the votes counted by hand.

Iran: France war talk scares Russia, China
Minister Bernard Kouchner, his comments clearly testing the resilience of a coalition of major powers seeking to curb Iran’s ambitions, sought to play down his weekend remarks, saying they had been meant as a warning against war.


By: Staff Reporter
+44 20 8652 3214



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