In Wednesday's Americas papers

27 August 2008 12:00  [Source: ICIS news]

THE WALL STREET JOURNAL

Front page

Clinton urges support for Obama
Hillary Clinton declared her full support for Obama, urging her supporters to help elect him president. The New York senator has become critical to uniting a party that remains divided.

FDIC weighs tapping treasury
FDIC chairman Sheila Bair said the agency might have to borrow money from the Treasury to see it through an expected wave of bank failures. The FDIC said its "problem" list of banks at risk of failure had grown to 117 at the end of June, compared with 90 at the end of March.

New credit hurdle looms for banks
US and European banks, already burdened by losses and concerns about their financial health, face a new challenge in coming months how to pay off hundreds of billions of dollars they borrowed before the credit crunch hit.

Money & Investing

Fed minutes show split on inflation risk
Fed officials downgraded their economic forecast at their last policy-setting meeting, according to meeting minutes. Some officials appeared divided over the degree of the inflation threat and the extent to which financial turmoil is weighing on the economy.

Housing market still under pressure
Home prices are improving in some parts of the country but still falling sharply in hard-hit places like Phoenix, as the weak housing market and shaky consumer confidence continue to weigh on the battered US economy.

Europe's gloom is boon to dollar
As the economic picture in Europe darkens, the US dollar is proving to be the main beneficiary. The dollar has gained about 8% versus. the euro, 9% vs. the pound and 5% vs. the Japanese yen since mid-July.

THE NEW YORK TIMES

Front page

Clinton delivers emphatic plea for unity
With her husband looking on tenderly and her supporters watching with tears in their eyes, Senator Hillary Rodham Clinton deferred her own dreams on Tuesday night and delivered an emphatic plea at the Democratic National Convention to unite behind her rival, Senator Barack Obama, no matter what ill will lingered.

Former outsider navigated a path to the Marquee
The Democratic National Convention is akin to a longstanding family reunion. And eight years ago, Barack Obama was not on the guest list.

Business Day

Wind energy bumps into power grid’s limits
The dirty secret of clean energy is that while generating it is getting easier, moving it to market is not.

Agency’s head expects banking’s crisis to Worsen
The Federal Deposit Insurance Corporation warned that the nation’s ailing banking industry was likely to weaken further and raised the number of “problem” lenders.

WASHINGTON POST

Front page

'Barack Obama is my candidate'
Sen Hillary Rodham Clinton roused the Democratic National Convention on Tuesday night with sharp criticism of Sen John McCain and a full-throated endorsement of Sen Barack Obama, her former rival for the party's nomination, urging Democrats to put the long and bitter battle behind them and unite to take back the White House in November.

McCain says Obama is confused about America's global standing
Sen John McCain on Tuesday accused Sen Barack Obama of not believing in America's role as a world leader and of being confused about the nation's moral standing, the latest attack on the Democrat's foreign policy credentials.

Business

Pearlstein: the growing income gap
Washington Post columnist Steven Pearlstein will be online to discuss how the presidential campaign is addressing growing income inequality and the stagnation of middle class income.

China's power-sector emissions rising
The carbon emissions of China's electric power sector will jump by about a third this year and surpass the total emissions of the US electric power industry for the first time, according to a report by the Center for Global Development.

GLOBE AND MAIL, Canada

Front page

Inspectors failed to adopt more rigorous US measures
Canadian meat inspectors failed to learn crucial lessons from a deadly listeria outbreak a decade ago, experts on the bacterium suggested yesterday as the food safety crisis spread further with three more deaths, including that of a woman in Saskatchewan, under investigation.

'Obama is my candidate,' Clinton declares
Hillary Clinton rallied her disgruntled supporters Tuesday, urging them to work hard to help the man who trounced her in the Democrat primaries Barack Obama reach the White House.

Business

Economy grew more slowly than expected: Bank of Canada
Canada's economy likely grew more slowly in the second quarter than the Bank of Canada had expected, and the retreat in commodity prices in recent weeks will tame inflation, a senior official from the central bank said Tuesday.

Nike fumbles Nadal's makeover
There he was, on a humid Monday afternoon in New York City, scrambling around with almost reckless disregard, his sleeveless blue shirt melding into the blue hard court of the Arthur Ashe stadium.

BUENOS AIRES HERALD

Front page

Jaime, Mata clash over Aerolíneas
National Transport Secretary Ricardo Jaime yesterday told a Senate committee that the planned renationalisation of the debt-laden Aerolíneas Argentinas and Austral airlines, currently owned by the Spanish Marsans group, is “very important,” and that it is “essential” that the two airlines keep on flying, since they serve 80 percent of domestic routes. 

UCR requests probe into CFK campaign war chest
UCR Radical party members submitted a bill urging the government to clarify the funding of President Cristina Fernandez de Kirchner’s campaign, which has become linked to a triple murder in the Greater Buenos Aires district of General Rodríguez. 

Russia recognises separatist regions.
Russia recognised two separatist areas of Georgia - South Ossetia and Abkhazia - as independent nations yesterday, setting off a tsunami of official protests from Europe and the United States, and US warships plied the waters off Georgia poised to deliver humanitarian aid to its Black Sea port of Poti, an area ringed by Russian checkpoints, in a gambit the Kremlin saw as gunboat diplomacy.

By: Staff Reporter
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