In Monday's Americas papers
15 September 2008 12:00 [Source: ICIS news]
Front page
Crisis on Wall Street as Lehman totters, Merrill is sold, AIG seeks to raise cash
The American financial system was shaken to its core on Sunday. Lehman Brothers Holdings Inc said it would file for bankruptcy protection, and Merrill Lynch & Co agreed to be sold to Bank of America Corp.
Thriving
Hurricane damage could squeeze energy supplies and strike a blow to one of the nation's healthiest regional economies.
Palin sought millions in earmarks
McCain claims his running mate hasn't sought earmarks, presenting her as a fiscal conservative. But state records show Palin has asked US taxpayers to fund $453m in
Money & Investing
Fed expands lending facilities in bid for stability
The Federal Reserve will expand its lending facilities in the wake of the likely demise of Lehman Brothers Holdings Inc, taking a wider array of securities, including equities, as collateral for its loans, the central bank said late Sunday.
ECB, BOE to pump extra cash into strained money markets
European central banks will pump extra cash into strained money markets Monday morning, after a weekend of brinksmanship that saw Wall Street titans totter and shook the
Central bankers debate US actions to help markets
For the Federal Reserve and the US Treasury, this weekend's tense negotiations with Wall Street's top executives over the fate of Lehman Brothers Holdings Inc marked the moment of truth: Could they say no?
Front page
After frantic day, Wall St Banks falter
In one of the most dramatic days in Wall Street’s history, Merrill Lynch agreed to sell itself on Sunday to Bank of America for roughly $50bn to avert a deepening financial crisis, while another prominent securities firm, Lehman Brothers, said it would seek bankruptcy protection and hurtled toward liquidation after it failed to find a buyer.
US futures contracts fall with the dollar
Futures contracts on American stocks declined along with the dollar on Monday in
Business Day
5 days of pressure, fear and ultimately, failure
A crisis of confidence in financial markets on Wall Street culminated in a weekend of brinksmanship and failed appeals that caused the demise of some of the nation’s most storied financial institutions.
Big insurer seeks cash as portfolio plummets
The big insurance company, the American International Group, was seeking a $40bn bridge loan Sunday night from the Federal Reserve, as it faces a potential downgrade from credit ratings agencies that could spell its doom, a person briefed on the matter said.
Massive shifts on
Lehman Brothers announced early Monday morning that it will file for bankruptcy, becoming the largest financial firm to fail in the global credit crisis, after federal officials refused to help other companies buy the venerable investment bank by putting up taxpayer money as a guarantee.
Weekend merger struck with Bank of
Business
Hispanic businesses getting out the vote
Galvanised by the immigration debates of recent years, Hispanic businesses and Spanish-language media are sponsoring a bevy of civic engagement and get-out-the-vote efforts in the
Into the rolodex for a bundle
P Wesley Foster, the real estate mogul who founded Chantilly-based Long & Foster, is hitting up acquaintances from a lifetime of business deals to help raise money for Sen. John McCain.
Front page
US financial system in throes of historic shake-up, banks step in
The ruptured
Dion trailing Layton, May for support in key ridings
Conservative Leader Stephen Harper will sharpen his attacks on Stéphane Dion starting today, as new polls show the Liberal Leader is failing to connect with voters or talk about the issues that mean the most to them.
Business
Bank of
Bank of America Corp said early Monday it would acquire Merrill Lynch & Co Inc in an all-stock transaction worth about $50bn that should lift the uncertainty shrouding Merrill since the start of the credit crisis over a year ago.
Financial havoc wallops US dollar, stocks
Stocks and the US dollar fell sharply on Monday after Lehman Brothers filed for bankruptcy protection, sending safe-haven treasury debt and gold prices soaring as the financial system bent under severe pressure.
BUENOS AIRES HERALD
Front page
‘Axe those superpowers’
Adrian Perez, a key opposition personality and leader of the Civic Coalition deputies in the Lower House of Congress, said yesterday that in order to prevent the financial allocations to be announced in the 2009 budget from becoming what he described as “fiction”, it would be necessary to annul the so-called “superpowers” that allow the national Cabinet chief to reassign funds as he sees fit.
Clouds darken over Brown
Politicians from Britain’s ruling Labour Party, an ex-minister and newspaper editorials kept up a chorus of dissent against Prime Minister Gordon Brown yesterday, calling for his troubled leadership to be challenged.
Filadelfia town hall burns as Bolivia simmers
The situation in Bolivia was tense and contradictory yesterday with one news agency highlighting the burning of the town hall in Filadelfia in Pando province, and another stressing that the government and its rightist rivals were seeking to defuse the deep political crisis.
By: Staff Reporter
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