In Wednesday's Americas papers

06 February 2008 11:06  [Source: ICIS news]

THE WALL STREET JOURNAL

Front Page

Clinton wins California, New York; Obama rallies supporters for change
Senator Hillary Clinton picked up Super Tuesday's biggest trophy, claiming California, but Senator Barack Obama notched a series of wins in coast-to-coast contests that showed Democrats remain divided over who to nominate for president. Rules governing allocation of delegates were certain to keep the race going.

Tokyo and Hong Kong shares take heavy losses ahead of holiday
In the final trading session before the Lunar New Year holiday, investors pummelled shares on Hong Kong's main index, and elsewhere in Asia, as another worrisome report about the US economy prompted a retreat before the market's close until Monday.

A year of reckoning
The credit markets have for years proved a financial sanctuary to struggling companies in distressed industries like retailing, trucking and home building. But the easy money has gotten much harder to find.

Money & Investing

Recession fears intensify
Recession worries surged, slamming financial markets, amid signs that service businesses - from hotels and retailers to banks - may be stumbling in both the US and Europe.

'Anyone for some used corporate debt?'
A new problem is rippling through credit markets: Many of the corporate loans used to finance giant buyouts in the past few years are reeling in secondary market trading, making it virtually impossible for banks to unload other commitments they have made.

Former Spitzer aide drives bond-insurer rescue talks
At 11am on 23 January, more than 30 top Wall Street executives gathered for an emergency meeting called by New York Insurance Superintendent Eric Dinallo, who wanted to cobble together a rescue plan for troubled bond insurers.

THE NEW YORK TIMES

Front Page

Support divided, top Democrats trade victories
Senators Hillary Rodham Clinton and Barack Obama carved up the nation in the 22-state nominating contest on Tuesday, leaving the Democratic presidential nomination more elusive than ever. Mrs Clinton won California, Massachusetts, New Jersey and her home state, New York, while Mr Obama took Connecticut, Georgia, Minnesota and his base in Illinois.

Huckabee revived with strong showing in south
Senator John McCain of Arizona won the most states and appeared poised to win the most delegates on Tuesday with impressive primary victories in the delegate-rich states of California, New York and Illinois. Mike Huckabee, the former Arkansas governor, revived his candidacy with victories across the South.

Business Day

Asian markets follow Dow’s decline
Stocks plummeted on Wall Street on Tuesday after a business survey provided another strong signal that the US might be in the early stages of a recession. The Dow Jones industrial average fell 370 points as the market experienced its worst day in nearly a year.

Microsoft adversary rises instinctively at Yahoo bid
More than a decade ago, Andrew S Grove, then the chief executive of Intel, aptly described the hypercompetitive mentality of Silicon Valley in his book title "Only the Paranoid Survive."

THE WASHINGTON POST

Front Page

Clinton and Obama trade victories
Senator Hillary Rodham Clinton won victories over Senator Barack Obama in California, Massachusetts, New Jersey and New York last night, giving her presidential campaign a crucial boost. But Obama countered by winning of a string of states, including the general election battleground of Missouri, in the seesaw race for the Democratic nomination.

McCain dominates big states
Senator John McCain surged closer toward the Republican nomination yesterday by capturing the biggest Super Tuesday states, including California, but failed to knock out his rivals, who deprived him of victories across GOP strongholds in the South and West.

Business

Downturn shows up on Main Street
The stock market plummeted yesterday after a report that businesses that account for a vast portion of the US economy are shrinking.

Asian exporters feel US pain
Sun Xiaoqing, owner of the Fenghua Hengsheng Knitting Factory, isn't quite sure what deadbeat mortgage holders in the US have to do with his exporting business, but he knows it's bad.

GLOBE AND MAIL, Canada

Front Page

McCain on course for Republicans
John McCain, the septuagenarian senator whose White House bid seemed doomed last summer, completed a stunning comeback Tuesday to emerge as the presumptive Republican presidential candidate. He won New York and California and a slew of smaller states across the country.

Harper prepared to draw the line on Afghanistan
Prime Minister Stephen Harper is prepared to put his minority government on the line over the future of the Afghanistan mission after he warned Liberal Leader Stephane Dion that the Tories are preparing a confidence motion that could be voted on as early as next week.

Business

BHP's bid may put Alcan in play
Just six months after Alcan Inc. agreed to a blockbuster foreign takeover bid, the company's prized aluminum assets could again be put up for sale after mining giant BHP Billiton formalized a hostile takeover offer for rival Rio Tinto worth $147.4bn.

US economic woes point to wider recession
Another key pillar of the US economy appears to have fallen into recession: the insurers, restaurants, hospitals and the like that make up the massive service sector.

BUENOS AIRES HERALD

Front Page

K-Lavagna pact met with scorn
The agreement between former opposition presidential candidate Roberto Lavagna and ex-president Néstor Kirchner to team up in order to overhaul the leadership of the Justicialist (Peronist) Party was the subject of continuing heavy criticism yesterday.

March vs FARC
Thousands of Colombians wearing white T-shirts marched in several major cities yesterday to demand the country’s largest rebel group end its practice of kidnapping and release of all its hostages.

Super Tuesday
Today marks the day US political observers - and participants - have been waiting for. What amounts to a national primary will include primary races in 24 of the 50 US states.


By: Staff Reporter
+44 20 8652 3214



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