In Wednesday's Americas papers

07 May 2008 12:00  [Source: ICIS news]

THE WALL STREET JOURNAL

Front Page

Obama wins North Carolina, Clinton scrapes by in Indiana
Barack Obama's quest to clinch the Democratic presidential nomination got a lift with a big win in North Carolina and a strong run in Indiana, where he did significantly better than expected against the favored Hillary Clinton.

Paulson sees credit crisis waning
Treasury Secretary Henry Paulson said US financial markets are emerging from the credit crunch and that "the worst is likely to be behind us", marking possibly the most optimistic comments yet from the Bush administration on the financial crisis.

UN officials says Myanmar delta is a 'major disaster'
A UN’s official declared Myanmar's cyclone-stricken Irrawaddy delta a "major, major disaster" Wednesday, with enormous challenges in getting aid to the neediest victims.

Money & Investing

Some see oil at $150/bbl this year
A growing number of oil-market watchers say voters riled by soaring fuel costs may face far worse this summer, as factors ranging from unrest in Nigeria to slumping production in Russia could shove benchmark oil prices over $150 a barrel.

Mr market's oil fix: Higher taxes
Oil's climb to $122 a barrel has policy makers and presidential candidates scrambling for quick, feel-good solutions. Trouble is, their ideas are exactly the opposite of what straightforward market economics says is needed.

Big tech firms to invest in wireless
The race to bring consumers ultra-fast wireless Internet service is on. An unlikely alliance of titans from the cable, Internet and chip industries disclosed they are investing $3.2bn in a company that will deliver Web access for cellphones and laptops at speeds much faster than what is available today using a technology called WiMax.

THE NEW YORK TIMES

Front Page

Obama wins North Carolina decisively; Clinton takes Indiana by slim margin
Senator Barack Obama won a commanding victory in the North Carolina primary on Tuesday and lost narrowly to Senator Hillary Rodham Clinton in Indiana, an outcome that injected a boost of momentum to Obama’s candidacy as the Democratic nominating contest entered its final month.

Options dwindling for Clinton
In this case, a split was not a draw. Despite narrowly winning Indiana, while losing North Carolina, Senator Hillary Rodham Clinton did not fundamentally improve her chances of securing the Democratic presidential nomination. If anything, Clinton’s hopes for overtaking Senator Barack Obama dwindled further on Tuesday night.

Business Day

Fannie Mae wins cheers despite loss
Fannie Mae, the nation’s largest buyer of home loans, gave investors little reason to cheer Tuesday, announcing a $2.2bn quarterly loss and a dividend cut, and warning of steeper losses ahead.

Some signs of an upturn for the dollar
After six years of stumbling against the euro, the dollar may be showing signs of getting back on its feet. Two weeks ago, the dollar hit a new low of $1.60 for the euro amid expectations of lower interest rates in the United States and possibly higher rates in Europe.

WASHINGTON POST

Front Page

Obama is decisive winner in NC; Clinton ekes out victory in Indiana
Senator Barack Obama scored a landslide victory in North Carolina's Democratic presidential primary yesterday, moving him ever closer to locking up an insurmountable lead among pledged delegates, while Senator Hillary Rodham Clinton posted a razor-thin win in the hotly contested Indiana primary as she sought to keep her shaky candidacy for the nomination alive.

Clinton aides doubtful about future
After failing to win the decisive sweep in North Carolina and Indiana that could have reshaped the Democratic race, disappointed aides to Senator Hillary Rodham Clinton conceded it would be difficult for her to catch Senator Barack Obama in either delegates or overall votes in the six remaining contests.

Business

For FHA, a huge task and uncertain role
The Federal Housing Administration has a big new role to play in untangling the mortgage mess, but even the agency itself does not know whether it can or should handle some of the tasks it is being asked to perform.

Buoyed by foreign money
Not every part of the nation's economy is sagging, despite all the grim news: Exports are surging. As the falling dollar has made US products more affordable abroad, foreigners have been snapping up American aircraft, machinery, agricultural goods and other products at what amount to bargain rates.

GLOBE AND MAIL, Canada

Front Page

A split decision
Barack Obama swept to a convincing victory in the North Carolina primary Tuesday night and declared he was closing in on the Democratic presidential nomination. Hillary Clinton eked out a win in Indiana as she struggled to halt her rival's march into history.

Canada faces Kyoto probe over greenhouse gases
Canada will be probed on suspicion of violating rules for registering greenhouse gases that are the mainstay of a UN-led fight against global warming, official documents show.

Business

Barrick hopes new mines add ounces, cut costs
Brawny gold prices and an expected increase in demand for the precious metal from an emerging consumer class in China and India should make these the best of times for the gold industry and its largest producer, Barrick Gold Corp.

Flaherty wades into Barrick's CIBC feud
Finance Minister Jim Flaherty has taken the unusual step of intervening in a sideshow spat in the ABCP drama, applying direct pressure on Canadian Imperial Bank of Commerce to settle up with Barrick Gold Corp.

BUENOS AIRES HERALD

Front Page

Beef exports okayed anew
The government yesterday announced the re-opening of beef exports, a day before the leaders of the farm associations meet with Cabinet Chief Anibal Fernandez.

Burmese cyclone death toll 10,000?
Myanmar’s ruling junta, which has spurned the international community for decades, urgently appealed yesterday for foreign aid as a Cabinet minister warned that more than 10,000 or more people may have died from a cyclone that swept through the country.

Bolivian stalemate
Local authorities in Bolivia’s wealthiest region, Santa Cruz, claimed victory yesterday in their unprecedented weekend vote for autonomy. The central government continued to insist that abstentions made the vote invalid.

By: Staff Reporter
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