In Wednesday's Americas papers

26 December 2007 11:00  [Source: ICIS news]

THE WALL STREET JOURNAL

Front Page

Buffett makes $4.5bn deal with Pritzkers

Warren Buffett agreed to pay $4.5bn (€3.1bn) to buy the majority of an industrial conglomerate from Chicago's Pritzker family, choosing to invest in products like plumbing pipes and railroad tank cars as Asian investors pour billions into US financial institutions.

Credit downturn hits the malls

The credit crunch triggered by the downturn in the housing market is creating problems in commercial real estate, driving down prices of office buildings, shopping malls and apartment complexes, and leaving some owners scrambling for cash.

US officials differ over Iran

The Pentagon and State Department, long divided over the conduct of the Iraq war and reconstruction there, have a new point of contention: Iran, and how much credit it deserves for recent security improvements in Iraq.

Business

Profit outlook darkens for big banks

For major banks, the next few years will be a return to a simpler and possibly less-profitable time.

Toyota's expected sales could put it ahead of GM

Toyota Motor said it expects global sales of 9.36m vehicles for 2007, up 6% from the year before, a level that could put it ahead of rival General Motors Corp. as the world's largest auto seller on an annual basis.

Retail rush falls short, now come more sales

Spurred by heavy discounting, US shoppers spent furiously in the days just before Christmas. But holiday retail sales appeared to still fall short of industry expectations, setting the stage for bigger markdowns in the increasingly important post-Christmas.

THE NEW YORK TIMES

Front Page

The Ink Fades on a profession as India modernizes

GP Sawant never charged the prostitutes for his letter-writing services.

Turkey says its raids in Iraq killed 150 rebels

Turkish airstrikes on Kurdish rebels in northern Iraq have killed more than 150 rebels and hit more than 200 targets in recent days, the Turkish military said Tuesday, countering Kurdish claims that only a handful of people were killed in the attacks.

Business

Rapidly, Buffett secures a deal for $4.5bn (€3.1bn)

Warren Buffett may be a choosy shopper, but when he sees a firm he likes, he moves fast.

Hospitals chase a nuclear tool to fight cancer

There is a new nuclear arms race under way — in hospitals.

THE WASHINGTON POST

Front Page

Tide is shifting on US exports

Challenged by a troubled US economy and the steeply falling dollar, a growing number of US manufacturers are making up for slowing domestic sales by expanding them overseas, often with sophisticated products.

Shiite contest sharpens in Iraq

Posted at the door of Shiite cleric Moqtada alSadr's office recently, a flier denounced the arrests of his followers.

Business

Holiday spending growth at 5 -year low

A surge in spending over the weekend may not have been enough to rescue Target, Sears Holdings and Macy's from the slowest holiday spending season in five years.

Berkshire Hathaway to buy $4.5bn (€3.17bn) Marmon Stake

Berkshire Hathaway Inc <BRKa.N>, the conglomerate headed by billionaire investor Warren Buffett, said on Tuesday it planned to buy 60% of manufacturing and services group Marmon Holdings Inc. for $4.5bn.

GLOBE AND MAIL, Canada

Front Page

MacKay pushes need to stay course

Defence Minister Peter MacKay served up turkey and tourtière to Canadian troops in Afghanistan on Christmas Day, saying they will stay for "as long as [they] can make this contribution."

Tories blast CBC in party fundraising letter

The Conservative Party of Canada has slammed the country's public broadcaster in a fundraising letter to party members.

Business

Banks to decide on ABCP deal in new year

The Crawford Committee managed to secure its rescue effort to restructure $33bn (€22.7bn) in asset-backed commercial paper (ABCP) in time for exhausted negotiators to take a holiday break, but some of the banks have still not signed on.

US retail sales climb 3.6%

US retailers saw sales rise 3.6% in holiday shopping, at the lower-end of expectations and were helped by a late-season spending surge on some items, according to data released Tuesday by SpendingPulse.

BUENOS AIRES HERALD

Front Page

Israel: this is war; there’ll be no truce

Israel’s prime minister yesterday pledged war against Gaza militants, rejecting feelers from the Islamic Hamas for a truce. An Israeli Cabinet minister meanwhile angered moderate Palestinians with another plan for new Jewish housing in a disputed part of Jerusalem, complicating renewed peace talks with the Palestinian leadership in the West Bank, which are set to continue.

Moyano challenger drops out

The secretary general of the UOCRA construction workers’ union, Gerardo Martínez, yesterday ruled out “for good” presenting his candidacy for the leadership of the CGT umbrella union, a bid which was the subject of recent debate because he was seen as a possible leader of union opposition to current CGT boss Hugo Moyano.

($1 = €0.69)

 

 

By: Staff Reporter
+44 20 8652 3214

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