In Friday's Americas papers

12 September 2008 12:00  [Source: ICIS news]

THE WALL STREET JOURNAL

Front page

Lehman races to find a buyer; Treasury, Fed seek resolution
Lehman was actively shopping itself to potential buyers that include Bank of America. The Fed and Treasury have been working with Lehman to help resolve the bank’s troubles.

Options for battling crisis narrow
 The credit crunch could be entering a critical stage, with the share prices of Lehman and other financial firms reeling even after the Fed slashed interest rates. Officials and market players are struggling to understand why the steps taken so far haven’t calmed the system.

Money & Investing

Olympics boost China’s retailers
Chinese retailers got a boost from the Olympics while manufacturers and exporters were weakened, and both trends are expected to continue after the Games.

 Japan’s economy contracts
Japan said its economy shrank at an annualised pace of 3% during the April-June quarter, revising down an earlier estimate.

THE NEW YORK TIMES

Front page

Obama plans sharper tone as party frets
Barack Obama is planning more forceful attacks and new TV ads as he confronts an invigorated Republican ticket.

Candidates take break, of sorts, to mark 9/11 anniversary
Sarah Palin said she agreed to John McCain’s offer without hesitation, perhaps her most confident answer in an interview that was at times tense and probing.

Business day

For Lehman employees, the collapse is personal
In scenes eerily familiar of the final days of Bear Stearns, employees at Lehman Brothers are watching the value of their stock evaporate and their job prospects dim.

Hedge fund glory days fading fast
Hedge funds are supposed to make money whether markets go up or down. But many of them are now being swept up in the turmoil in the financial world.

WASHINGTON POST

Front page

US is helping Lehman put itself up for sale
Government looks for an agreement for the investment bank that wouldn't involve public money and that would be ready this weekend.

A tangled story of addiction
Cindy McCain’s struggle with painkillers has been more complex and had greater consequences than she has described.

Business

A vicious cycle
It’s hard to be an optimist when the US continues to report near-record monthly trade deficits and when its government is on a path toward a $500B budget deficit next year.

Auto industry sends in pitchman
Scheduled to address a Senate energy summit, GM chief Richard Wagoner will try to convince lawmakers that the country’s home-grown automakers deserve help from the government as they prepare to build more fuel-efficient cars for a radically different market.

GLOBE AND MAIL, Canada

Front page

Harper plays populist tune on arts cuts
In his first detailed defence of $45m in controversial cuts to arts and culture funding, Conservative Leader Stephen Harper called his party’s decisions good governance and said the government must walk “a fine line” between providing financial stability and “funding things that people actually don’t want.”

Pain at the pumps
Motorists in many parts of Canada received an unpleasant surprise on Friday with a spike in the price at the pumps. The price for gas at some stations in the Greater Toronto Area jumped by about 13 cents at midnight to more than $1.36 a litre.

Business

He saw the disaster coming
In his first interview since retiring from the Bank of Canada, David Dodge says many central bankers recognised that trouble was afoot as early as 2003, but Wall Street and other regulators didn’t listen.

Bankers say Lehman approaching rivals for lifeline
Potential suitors for embattled 158-year-old firm reportedly include Bank of America

BUENOS AIRES HERALD

Front page

Government, US clash over ‘suitcase affair’
The “suitcase scandal” - US-Venezuelan citizen Antonini Wilson’s botched attempt last year to smuggle $800,000 into Argentina from Venezuela- keeps on raising controversy, as Argentina yesterday blasted US justice after a tape was submitted as evidence in a US court. 

Together in silence, as the US recalls 9/11
Presidential rivals John McCain and Barack Obama suspended their fierce political skirmishing yesterday in honour of the seventh anniversary of the Sept. 11 attacks, and made a rare appearance together.

By: Staff Reporter
+44 20 8652 3214

< previous article(VIDEO - ICIS news Asia Lunchtime Bulletin 16 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly