In Friday's Americas papers

16 November 2007 10:57  [Source: ICIS news]

THE WALL STREET JOURNAL
Front Page

Siemens ruling details bribery across the globe
Scandal-scarred Siemens AG paid millions of euros in bribes to cabinet ministers and dozens of other officials in Nigeria, Russia and Libya as it sought to win lucrative contracts for telecommunications equipment, according to a court ruling that depicts a pattern of bribery by one manager.

Rivals pick up Clinton criticism as caucuses near
Democratic presidential candidates debated in what amounted to round two after their feisty encounter two weeks ago in Philadelphia, again targeting frontrunner Hillary Clinton from the start with help from the moderators, and sparring over health care, illegal immigration, war and trade.

Russia oil output to rise modestly
Russian oil output will grow only modestly over the next few years but the government is considering new tax breaks to stimulate investment and boost production, Russia's energy minister said in an interview

Money & Investing

At Merrill, Thain faces tough calls
As the Big Board's chief for nearly four years, John Thain engineered two big deals that helped significantly increase the value of New York Stock Exchange members' stakes.

Credit pressure filters down to Muni market
The $2,500bn market for tax-free municipal bonds, a popular investment for many individual investors, is the latest unlikely corner of Wall Street to be roiled by the nation's real-estate and credit-market woes.

Fannie Mae shares shed 10%
Fannie Mae shares dropped 10% Thursday as investors reacted to gloomy comments on the housing outlook and an article highlighting a change in the way the company reports credit losses.

THE NEW YORK TIMES
Front Page

Poor lag in hurricane aid from Mississippi
Like the other Gulf Coast states battered by Hurricane Katrina, Mississippi was required by Congress to spend half of its billions in federal grant money to help low-income citizens trying to recover from the storm.

Recovering addicts find home on the Florida coast
Whitney Tower, 56, a scion of the Whitney, Vanderbilt and Drexel fortunes, squandered his trust fund and sold family treasures to support a $1,000-a-day heroin habit before landing in a tough-love facility near here seven years ago and never leaving. "If I went back to New York I’d be dead in two weeks," he said.

Business Day

Court rejects fuel standards on trucks
A federal appeals court here rejected the Bush administration’s year-old fuel-economy standards for light trucks and sport utility vehicles on Thursday, saying that they were not tough enough because regulators had failed to thoroughly assess the economic impact of tailpipe emissions that contribute to climate change.

China stand on imports upsets US
Few American industries have had more success in selling goods to China than makers of medical devices like X-rays, pacemakers and patient monitors. Which is why a recent Chinese decree was so troubling.

THE WASHINGTON POST
Front Page

Home run king bonds charged with perjury
Barry Bonds, the most prolific slugger in baseball history and holder of the most cherished record in American sports, was indicted yesterday on charges of perjury and obstruction of justice, stemming from his testimony to a federal grand jury four years ago that he had not knowingly used steroids.

Democratic contenders step up attacks in debate
Senator Barack Obama, stepping up his criticism of Senator Hillary Rodham Clinton, directly accused her of being duplicitous in one of several testy exchanges that marked the Democratic debate here Thursday night as one of the most heated of the presidential campaign.

Business

Bush frees up military airspace for Thanksgiving
President Bush yesterday announced measures intended to curb airline delays during the Thanksgiving travel frenzy, including freeing up military airspace for commercial use.

California court rejects SUV mileage rules
A federal court in California yesterday rejected the Bush administration's new fuel economy standards for light trucks including SUVs, ruling that the government failed to take into account the effects of carbon emissions and their possible link to global warming.

GLOBE AND MAIL, Canada
Front Page

Schreiber refuses to talk if he's extradited
The man at the centre of allegations against former prime minister Brian Mulroney, Karlheinz Schreiber, served notice yesterday he would not co-operate with a public inquiry if he were extradited to Germany.

Afghan prisons: What Ottawa knew
The Harper government knew prison conditions were appalling long before The Globe and Mail published a series of stories last April detailing the abuse and torture of prisoners turned over by Canadian soldiers to Afghanistan's notorious secret police, documents released this week show.

Business

Central banks buttress shaky markets
The Bank of Canada and the US Federal Reserve injected huge amounts of cash into wobbly money markets Thursday as lenders lost confidence in borrowers and drove up short-term credit rates around the world.

High costs trim forecast for oil sands production
Output from Alberta's oil sands will grow more slowly than was predicted last year as spiralling costs deter investment in the vast but difficult resource, Canada's national energy regulator says.

BUENOS AIRES HERALD
Front Page

CFK names cabinet
President-elect Cristina Fernandez de Kirchner announced yesterday her future cabinet via cabinet chief Alberto Fernandez, who will retain his post.

Chavez: We don’t need Spanish business
Chavez has demanded King Juan Carlos to apologise for reprimanding him and threatened Spanish investments, especially in the banking sector.

Two dead, scores wounded in major Chile quake
Two people were confirmed dead and 117 were injured in the magnitude 7.7 quake, which raised massive dust clouds in Chile’s mountainous north and shook buildings in isolated cities up and down the Pacific coast.

By: Staff Reporter
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