In Friday's Americas papers

01 February 2008 11:22  [Source: ICIS news]


Front Page

Chinalco, Alcoa buy Rio Tinto stake
Aluminum of China said it has teamed up with Alcoa of the US to purchase an approximately 12% stake in mining giant Rio Tinto, marking one of the boldest investments overseas by a Chinese company and injecting China in the middle of one of the world's biggest takeover battles.

Motorola to spin off handset unit, as Icahn waits
Motorola, facing pressure from activist shareholder Carl Icahn, said it may spin off or sell its flagship handset division.

Clinton, Obama take aim at Republicans
Several weeks of political jabs largely took hiatus last night when Democratic presidential candidates Hillary Clinton and Barack Obama set aside differences and threw darts at the Republicans in their first one-on-one debate.

Money & Investing

Legacy of deficits will constrain Bush's successor
George W Bush took office in 2001 with budget surpluses projected to stretch years into the future. But it's almost certain that when he returns to Texas next year, the president will leave behind a trail of deficits and debt that will sharply constrain his successor.

Merrill pays back Springfield, Mass. for CDO purchase
Merrill Lynch has bought back, from Springfield, Mass., complex debt securities that rapidly collapsed in value during the credit crisis.

Federal grand jury probes Merck's handling of Vioxx
Merck is the subject of a federal grand-jury probe into its sales and marketing practices for Vioxx, the painkiller it pulled from the market in 2004, according to a person familiar with the matter.


Front Page

Indonesian chickens, and people, hard hit by bird flu
The rooster started to crow at 3 am, and Partoparmin, a farmer in this small hillside village, went into his yard to look. All around him, chickens were lying on the ground, twitching and shaking.

Kurds’ power wanes as Arab anger rises
As a minority group in Iraq, the Kurds have enjoyed disproportionate influence in the country’s politics since the ouster of Saddam Hussein in 2003. But now their leverage appears to be declining as tensions rise with Iraqi Arabs, raising the specter of another fissure alongside the sectarian divide between Sunnis and Shiites.

Business Day

China’s inflation hits American price tags
China’s latest export is inflation. After falling for years, prices of Chinese goods sold in the US have risen for the last eight months.

Senate Democrats’ stimulus plan hits roadblock
Backed solidly by the Bush administration, Senate Republicans said on Thursday that they would block a $157bn economic stimulus package championed by Senate Democrats, who said they would have no choice but to quickly adopt a cheaper, more streamlined plan approved this week by the House.


Front Page

Head to head, Clinton, Obama shelve Rancor
Hillary Rodham Clinton and Barack Obama set aside personal hostilities here Thursday night but sharply disagreed on who has the better combination of leadership and experience to defeat Republicans in November and lead the country as president.

The envoy & his navel liaison
Surely, after all they've been through, the belly dancer must love the British ambassador. He saved her from her life, from Uzbekistan, a thugocracy where she grew up a hungry and beaten child. At age 11, she was forced by her drug-addled father to smuggle heroin from Afghanistan in her underwear. Much later, as an adult, she was raped by police.


Canadian mill towns pay for US housing collapse
For a time, the snow-dusted forests ringing this picturesque mill town might as well have been made of gold.

Rah-Rah Gaylord
It's 10 am at the Gaylord Palms Hotel in Orlando, and the entire staff is assembled in the main ballroom. Porters, housekeepers, front desk clerks, concierges--they're all there, waiting, with the expectant look of kids lining up at Disney World a few miles away.


Front Page

Ottawa kept abuse charges against Afghan ally secret
The Harper government knew, but tried to keep secret since last spring, allegations that the governor of Kandahar was personally involved in torture and abuse of detainees.

Judge denies Black's bid for bail during appeal
Conrad Black moved a step closer to prison Thursday night after a Chicago judge turned down his request to remain free on bail while he appeals his criminal conviction.


Even Google isn't immune to advertising slump
Gathering economic storm clouds have pushed search engine giant Google into unfamiliar waters as fears over the health of the US advertising market continue to mount.

Motorola weighs splitting off mobile unit
Motorola said Thursday it is considering separating its loss-making mobile phone unit, in an apparent concession to demands from activist investor Carl Icahn, sending its shares up 12.7%.


Front Page

Edwards, Giuliani drop out
Republican Rudy Giuliani and Democrat John Edwards dropped out of the US presidential race yesterday, narrowing down wide-open White House races for both parties to two top candidates.


‘No Kikuyus left to kill’ in Kenyan city
Members of Kenya’s biggest tribe, the Kikuyu, have disappeared in their thousands from Kisumu, making it the first — but perhaps not the last — city to be ethnically cleansed.


CFK, Wayne: when the twain shall meet...
United States Ambassador E. Anthony Wayne will today be meeting with President Cristina Fernández de Kirchner (CFK) in a fence-mending exercise which (according to opposition leader Elisa Carrió) will seal a deal between between the Argentine and the US governments to “obscure the destination” of 800,000 dollars intercepted by Customs in a suitcase brought into the country by Venezuelan-US citizen Guido Antonini Wilson.

By: Staff Reporter
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