In Wednesday's Americas papers

06 August 2008 12:07  [Source: ICIS news]

THE WALL STREET JOURNAL

Front Page

Citi talks with regulators may bring billions in buybacks
Citigroup is in negotiations with state and federal regulators to resolve allegations of wrongdoing in the auction-rate-securities market that could result in its buying back several billion dollars of the illiquid securities from investors and paying a sizable fine, according to people familiar with the matter.

Bush's visit, new embassy highlight US-China ties
The potent symbolism of President George W Bush's planned visit to Beijing this week - and the giant new American Embassy he will unveil - reflects the growing importance of US-China relations despite disputes over a range of issues.

FBI's anthrax case relies on spores discovered on a flask
The Federal Bureau of Investigation is basing a central part of its case against Bruce Ivins on anthrax spores found on a laboratory flask to which the scientist had access, according to two people briefed on the matter.

Money & Investing

Treasury hires Morgan Stanley for advice on Fannie, Freddie
The Treasury Department, which recently received authority to help shore up Fannie Mae and Freddie Mac, hired Morgan Stanley to provide "market analysis and financial expertise" in connection with its rescue plan.

FirstFed grapples with payment-option mortgages
Like many mortgage lenders, FirstFed Financial is struggling with rising losses. The bank posted a loss of nearly $70m in the first quarter - reversing years of profit.

Stocks rally on oil, Fed signals
Plunging oil prices and reassuring signals from the Federal Reserve combined to spur hopes that the worst could be over for stocks, driving the Dow Jones Industrial Average on Tuesday to its sharpest one-day gain since 1 April.

THE NEW YORK TIMES

Front Page

New decrees from Chavez mirror spurned measures
President Hugo Chavez is using his decree powers to enact a set of socialist-inspired measures that seem based on a package of constitutional changes that voters rejected last year. His actions open a new stage of confrontation between his government and the political opposition.

In Obama campaign, big donors are a major force
In an effort to cast himself as independent of the influence of money on politics, Senator Barack Obama often highlights the campaign contributions of $200 or less that have amounted to fully half of the $340m he has collected so far.

Business Day

Lower oil prices ignite big rally; Dow is up by 331
Oil prices touched a three-month low on Tuesday, the latest milestone in a steep reversal for commodity prices that sent stocks soaring and eased inflation concerns among investors and policy makers alike.

Home energy prices are expected to soar
In a season of roller-coaster energy costs, the drop in oil and natural gas prices in recent days was greeted as good news. But they remain so high that experts are predicting that heating bills this winter will far exceed those of last year.

WASHINGTON POST

Front Page

Tales of addiction, anxiety, ranting
Late last fall, Bruce E Ivins was drinking a liter of vodka some nights, taking large doses of sleeping pills and anti-anxiety drugs, and typing out rambling e-mails into the early morning hours, according to a fellow scientist who helped him through this period.

Bundler collects from unlikely donors
The bundle of $2,300 and $4,600 checks that poured into Senator John McCain's presidential campaign on March 12 came from an unlikely group of California donors: a mechanic from D&D Auto Repair in Whittier, the manager of Rite Aid Pharmacy No. 5727, the 30-something owners of the Twilight Hookah Lounge in Fullerton.

Business

Stocks jump on Fed's prediction for inflation
The Dow Jones industrial average jumped 2.9% Tuesday as investors drew confidence from a continued decline in oil prices and from the Federal Reserve's prediction that inflation would level off.

Freddie CEO feels strain of firm's twin missions
Freddie Mac chief executive Richard F Syron, who has presided over an implosion of investor confidence in his company, said yesterday that conflicting demands on the government-chartered mortgage giant have made his job "almost impossible."

GLOBE AND MAIL, Canada

Front Page

Clement's Insite attack leaves WHO red-faced
The World Health Organization has strongly endorsed safe injection sites like Vancouver's Insite as one of the “priority interventions” that countries should implement to slow the spread of HIV-AIDS, a view that was swiftly and firmly rejected by Canada's Health Minister.

'We were duped' by PMO, apology recipients say
Those involved in organisng the event in which Prime Minister Stephen Harper apologized for the 1914 Komagata Maru incident said Tuesday they feel they were used by Ottawa politicians for purposes they do not understand.

Business

Xstrata bids $10bn for Lonmin
Miner Xstrata unveiled a $10bn takeover bid for the world's third-biggest platinum producer, Lonmin, to diversify its business from industrial metals such as copper.

The wired world goes airborne
The WiFi craze has caught on at Delta Air Lines in a pioneering project for its US flights, while similar Internet access for laptops and smart phones must first clear regulatory hurdles before making any debut in Canada.

BUENOS AIRES HERALD

Front Page

Regional airline and railroad mooted
A trilateral meeting was held yesterday in Buenos Aires city between President Cristina Fernandez de Kirchner and her Brazilian and Venezuelan counterparts, Luiz Inacio Lula da Silva and Hugo Chavez. Fernandez said the meeting was “very good,” and Chavez asserted the three countries have emerged as an “axis of the South.”   

Iran tests sea weapon
Iran reported yesterday that it has tested a new weapon capable of sinking ships 300 km away. Revolutionary Guards commander General Mohammad Ali Jafari said that the new marine weapon is “unique in the world”. 

By: Staff Reporter
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