In Monday's Americas papers

12 May 2008 12:43  [Source: ICIS news]

THE WALL STREET JOURNAL

Front Page

Large quake rattles central China
A major earthquake struck southwestern China Monday, jolting cities as far away as Bangkok and prompting evacuations of office buildings in Beijing and across China.

AIG leasing unit mulls split-up
American International Group 's troubles are prompting one of the insurer's most-profitable units--an airplane-leasing giant run by one of AIG's largest shareholders - to consider seeking a split from the company, according to people familiar with the matter.

Aussie Banks feel pressure, so Westpac bids for rival
Australia's Westpac Banking Monday said it has approached rival lender St George Bank with a takeover offer which would likely value the target at more than Australian dollars (A$) 15bn ($14.1n) and mark the biggest shakeup of the Australian banking sector in years.

Money & Investing

Peloton flew high, fell fast
When hedge-fund chief Ron Beller's investments in US mortgages turned against him, he got a rude awakening to Wall Street's unsentimental ways. Bankers who had vied for his business reeled in credit lines and seized the fund's assets.

Big-cap tech rules all
There are periods when investors can make hay in the markets simply by throwing down on a few stocks. The last couple of months has been one of those periods, particularly as it relates to the Nasdaq.

THE NEW YORK TIMES

Front Page

Voter ID battle shifts to proof of citizenship
The battle over voting rights will expand this week as lawmakers in Missouri are expected to support a proposed constitutional amendment to enable election officials to require proof of citizenship from anyone registering to vote.

Drive in Basra by Iraqi army makes gains
Three hundred miles south of Baghdad, the oil-saturated city of Basra has been transformed by its own surge, now seven weeks old.

Business Day

The pundit analyzing Obama? Some TV upstart named Rove
Late Thursday night, Karl Rove, the architect of the last two Republican presidential victories, was on his new television perch at Fox News, offering free advice to Senator Barack Obama as he closed in on the Democratic nomination.

State programmes add safety net for the poorest
For years, state welfare offices like the one alongside Interstate 30 have drawn the unemployed. But these days, the red-brick building here is also attracting poor, working parents with an unexpected offer: $204 a month in cash.

WASHINGTON POST

Front Page

In custody, in pain
Underneath her baggy jail-issue pants, Yong Sun Harvill feels the soft lump just below her left knee. Sometimes it tingles. Sometimes it is numb. Like her cancer felt when it arrived behind the knee a few years ago.

Spread of nuclear capability is feared
At least 40 developing countries from the Persian Gulf region to Latin America have recently approached UN officials here to signal interest in starting nuclear power programmes, a trend that concerned proliferation experts say could provide the building blocks of nuclear arsenals in some of those nations.

Business

Person close to talks: Cablevision close to buying Newsday
Cablevision Systems is close to buying the Long Island newspaper Newsday from Tribune for $650m, a person with knowledge of the situation said Sunday.

Slowed but not stalled
There was an epic real estate bust, and it spurred a financial crisis so profound that it dragged down the entire US economy. The Washington area felt it more than most, shedding jobs at more than twice the pace of the nation as a whole.

GLOBE AND MAIL, Canada

Front Page

Myanmar toll likely to hit 216,000
The death toll in Myanmar's cyclone disaster could be as high as 216,000 or more, making it as deadly as the tsunami that devastated much of Asia in 2004, according to new unofficial estimates from UN’s sources.

Strong earthquake jolts southwest China
The Chinese state media says nearly 900 students have been buried in an earthquake in central China's Sichuan province. Xinhua news agency did not immediately give any other details and did not say if any of the students were thought to be alive.

Business

New BlackBerry Bold targets business market
Research In Motion is launching a new high-end version of the BlackBerry aimed at its core base of business users, but it hopes the sleek device will also catch on in the broad retail market.

EnCana's plan: Divide, then conquer
EnCana, Canada's biggest energy company, is going back to its roots: as two smaller companies. Seeking to unlock the value of its enormous asset base, the $65bn company plans to split into separate oil and natural gas firms, a move that underscores the massive need for capital in an oil patch where development costs are escalating rapidly.

BUENOS AIRES HERALD

Front Page

Goverment calls lockout ‘perverse’
While the government yesterday accused farmers of having launched “an enormously perverse” lockout on Wednesday, producers warned that their nationwide protest against higher soybean export duties could be extended beyond the initially planned eight days.  Read More

Hezbollah melts away from streets of Beirut
Hezbollah gunmen melted away from the streets of Beirut yesterrday, heeding an army call to clear out fighters after the Shiite militants demonstrated their military might in a power struggle with the US-backed government.  Read More

Burma holds poll despite chaos
Burma held a rare election to approve a new army-drafted constitution yesterday while many of the 1.5 million survivors of a devastating cyclone waited in vain for a concerted aid effort to bring them food and medicine.

By: Staff Reporter
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