In Tuesday's Americas papers

19 August 2008 12:17  [Source: ICIS news]

THE WALL STREET JOURNAL

Front Page

Russian troops seize Georgian port
Russian troops seized control of the economically vital Georgian port of Poti on Tuesday morning, a day after Moscow said it had begun pulling its forces out of Georgia.

Musharraf resigns, leaving a shaky Pakistan in his wake
Pakistan's President Pervez Musharraf resigned, handing leadership of this volatile nuclear-armed nation to a divided government that is struggling to tackle Islamic militancy and an economic downturn.

Fannie Mae, Freddie Mac are pounded
Share prices of Fannie Mae and Freddie Mac plunged Monday amid growing fears that the two largest providers of funding for US home mortgages won't be able to avoid a government bailout.

Money & Investing

Growth in labour costs accelerates
The growth of industrial unit labour costs picked up in most developed economies during the first three months of this year, a development likely to set alarm bells ringing at central banks.

France readies plan to keep recession from eurozone
France aims to present a plan on how to prevent the Euro zone, the world's second-largest economy, from falling into recession at next month's meeting of European Union finance ministers.

German engineering union set for wage push
Germany's powerful engineering union IG Metall is preparing to demand inflation-busting wage increases during negotiations this fall that will affect 3.6 million workers.

THE NEW YORK TIMES

Front Page

Wrangling begins over Pakistan’s next president
Triumphant after the resignation of President Pervez Musharraf, the leaders of the parties in the coalition government were set to gather here Tuesday to discuss candidates for his replacement. Also on the agenda for the important post-Musharraf meeting was how to reinstate 60 judges fired by the former president.

Obama ready to announce running mate this week
Senator Barack Obama has all but settled on his choice for a running mate and set an elaborate rollout plan for his decision, beginning with an early morning alert to supporters, perhaps as soon as Wednesday morning, aides said.

Business Day

As oil giants lose influence, supply drops
Oil production has begun falling at all of the major Western oil companies, and they are finding it harder than ever to find new prospects even though they are awash in profits and eager to expand.

A smart bet or a big mistake?
Four years ago, Verizon Communications embarked on an ambitious and expensive plan to run fiber optic cables, which can deliver ultra-fast Internet service and dozens of high-definition video channels along with old-fashioned telephone service, past 19 million homes, roughly half its territory.

WASHINGTON POST

Front Page

Musharraf exits, but uncertainty remains
Pakistani President Pervez Musharraf's resignation Monday signaled the beginning of a new round of political uncertainty as the country's civilian government tries to reshape the legacy of nearly nine years of military rule.

Some non-profits push for increased federal involvement
In the world of philanthropy, where independence from government has long been sacred, a revolution is underway. Social entrepreneurs are clamoring for a realignment of the way the federal government and nonprofit groups work together to maximize the impact of American generosity.

Business

Financial data 'on steroids'
In the realm of quarterly filings, David Blaszkowsky takes the long view. He's quick to mention that the earliest form of record keeping was on tablets in the ancient Middle Eastern civilization of Sumer. Now, he says, the financial world is about to discover yet a new way.

Shifting to a greener attitude on tire ratings
As Americans try to squeeze every last mile out of a gallon of gasoline, one regulatory option hasn't been given much of a road test telling consumers the fuel efficiency of their tires.

GLOBE AND MAIL, Canada

Front Page

Supporting Insite unethical, Clement tells doctors
Health professionals who support Vancouver's safe injection site are unethical and immoral, federal Health Minister Tony Clement suggested on Monday.

Cities ponder restrictions in wake of London bottle ban
The water fountain is about to make a comeback. Plastic water bottles are the focus of a growing national backlash that's turning them from a fashion accessory into the latest environmental taboo. The issue reached a head in London, Ont., Monday night after city council voted to eliminate sales of bottled water at all city-run facilities, including arenas and community centres, and possibly even golf courses.

Business

Hebron energy project set for launch
Newfoundland and Labrador Premier Danny Williams is about to announce a long-delayed agreement with a consortium of oil companies to proceed with the Hebron offshore oil project, a $5-billion (€3.40 billion)deal that will pump more fuel into the province's economy.

An oligarch's Montenegro miasma
Oleg Deripaska didn't become Russia's richest man by making mistakes. But an investment in tiny Montenegro got the better of him, proving that even business-savvy oligarchs can stumble.

BUENOS AIRES HERALD

Front Page

Fugitive rights suspect nabbed
The man in question, former lieutenant colonel Julian Corres, was captured in the town of Villa Constitución in the eastern central province of Santa Fe.

Farm leaders don’t agree
Eduardo Buzzi, head of the Argentine Agrarian Federation, yesterday said he was “frankly irritated” by Alfredo De Angeli’s (the Federation’s leader in Entre Ríos province) meeting last week with Buenos Aires city Mayor Mauricio Macri.

Vaulting high
Russian Yelena Isinbayeva had the Bird’s Nest crowd spellbound with a flamboyant, world record-breaking display of pole vaulting. China’s Olympic 110 metres hurdles champion Liu Xiang hobbled out of the Games injured, stunning home fans into silence and tears.

By: Staff Reporter
+44 20 8652 3214

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