In Friday's Americas papers

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

THE WALL STREET JOURNAL

Front page

Obama frames campaign as vote on economy, Bush
With his party's nomination in hand, Sen Barack Obama launched a historic general election campaign by promising a middle-class economic renewal and tying his Republican opponent tightly to the record of the current president.

US weighs halt to talks with Russia on nuclear arms curbs
The Bush administration, escalating its response to Russia's actions in Georgia, has placed under review talks with Moscow focused on missile defence and nuclear-weapons disarmament, according to US officials.

Auto industry skid imperils parts maker
Giant auto-parts maker Delphi Corp is sliding deeper into trouble, raising doubts about its ability to survive as a stand-alone company.

Money & Investing

GDP revision signals strength
The US economy was much stronger in the spring than first thought, with GDP rising 3.3%, but the pace is expected to slow over the rest of the year.

Europe's growth slowed in August
Eurozone growth slowed in August, adding to evidence of a possible recession. The Euro Coin indicator fell to its lowest since mid-2003.

Mortgage rates fell in week
Rates on fixed-rate home mortgages fell this week, following reports of weakness in the economy, Freddie Mac's chief economist said on Thursday. But rates on adjustable-rate mortgages rose slightly.

THE NEW YORK TIMES

Front page

Obama takes aim at Bush and McCain with a forceful call to change America
Barack Obama accepted the Democratic Party presidential nomination on Thursday, declaring that the “American promise has been threatened” by eight years under President Bush and that John McCain represented a continuation of policies that undermined the nation’s economy and imperilled its standing around the world.

In speech, bringing lofty words down to earth
Good, great or something else, Senator Barack Obama’s acceptance speech on Thursday night unquestionably confronted two of his greatest challenges.

Business Day

Worker assets shrink at Fannie and Freddie
Fannie Mae’s workers had $116m in the employee stock ownership plan at the end of 2006. Today, it’s more like $17.5m.

AT&T’s rivals are happy to attack over iPhone’s network woes
Apple sold more than a million iPhone 3G cellphones its first weekend with some stores running out and two million more since then, analysts say.

WASHINGTON POST

Front page

Obama, accepting nomination, draws sharp contrast with McCain
Sen Barack Obama, the first African American to lead a major-party ticket, accepted the Democratic nomination for president on Thursday night, sharply criticising Republican John McCain and casting the election as "our chance to keep, in the 21st century, the American promise alive".

For the descendants of king's dream, a new day dawns
No-one said this exactly, but imagination was the quiet star of this day, that thing that leaps over walls and moves the fences of our limitations.

Business

Agency recalls cribs linked to infant deaths
In the first test of its powers under a sweeping product-safety law, the Consumer Product Safety Commission directs retailers to pull a bassinet linked to two deaths.

GDP grows 3.3% in second quarter
US economic growth accelerates from April to June as taxpayers spend their federal rebate checks and a weakened dollar boosts exports, the government reports.

GLOBE AND MAIL, Canada

Front page

'Our chance to keep the American promise alive'
Saying they stood at a historic crossroads, Barack Obama challenged Americans on Thursday night to join him in transforming their nation, to restore its greatness and reclaim its leadership in the world.

Ottawa wanted US to accept more lenient meat inspection regime
The Canadian government strongly opposed tougher US rules to prevent listeria and lobbied the United States to accept Canada's more lenient standards, internal documents reveal.

Business

Cable regulator shortens the leash on Shaw
Regulators have slapped Shaw Communications Inc with one of their strictest penalties possible, short of revoking its licence, by placing Canada's second-largest cable company on probation for flouting federal rules.

Zoom grounded
For Hugh and John Boyle, the sky was the limit for their start-up carrier when oil prices were $24/bbl in 2002, but their business model for Zoom Airlines has now collapsed under the weight of mounting fuel bills.

BUENOS AIRES HERALD

Front page

Bussi, Menéndez get life in prison
A court sentenced two former generals to life imprisonment yesterday over the disappearance of a provincial senator during the 1976-1983 “dirty war” dictatorship. 

Government raises tax exemption ceiling 20%
Labour Minister Carlos Tomada last night announced an increase of 20-21% in the income tax exemption ceiling (4,015 pesos for single employees and 5,554 pesos for married employees with two children) in a decision which the CGT umbrella union grouping called "a step in the right direction, but insufficient".

Obama: Eight GOP years is enough
Barack Obama pledged last night to end the “broken politics in Washington and the failed presidency of George W. Bush” after he defeats John McCain for the presidency. 

By: Staff Reporter
+44 20 8652 3214

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