In Tuesday's Americas papers

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

THE WALL STREET JOURNAL

Front page

Dollar falls, oil rises on rescue doubts
Volatility spread across financial markets, undermining the dollar and contributing to the biggest-ever one-day surge in oil prices.

Treasury relents on key points
The White House and Congress inched closer to agreement on the rescue plan, with the Treasury making most of the concessions.

Bailout pitch tests Paulson's political skill
More in Politics & Campaign for those watching the Washington tea leaves, one sure sign that Treasury Secretary Henry Paulson faces problems selling his Wall Street bailout plan came Sunday, when Newt Gingrich posted his views online.

Money & Investing

Funds get freer hand in buying bank stakes subscriber content
The Fed loosened longstanding rules that limited the ability of buyout firms and private investors to take big stakes in banks.

US probes food-price collusion
US prosecutors opened separate criminal probes into possible price-fixing by major egg producers and California tomato processors.

Auto-finance firms seek a hand subscriber content
Auto-finance companies lead a growing list of liquidity-starved industries trying to get in on the rescue plan.

THE NEW YORK TIMES

Front page

Bailout plan talks advance in Congress
The Bush administration and Congressional leaders moved closer to agreement on a historic $700bn bailout for financial firms on Monday, including tight oversight of the program and new efforts to help homeowners at risk of foreclosure.

Retirees filling the front line in market fears
Older Americans with investments are among the hardest hit by the turmoil in the financial markets and have the least opportunity to recover.

Business Day

Experts see a need for punitive action in bailout
As economists puzzle over the proposed details of what may be the biggest financial bailout in American history, the initial scepticism that greeted its unveiling has only deepened.

Foreign nations pledge support, but not financing
Europe and Japan have signalled they are not ready to mount a rescue of the kind being debated in the United States.

WASHINGTON POST

Front page

White House resists changes to bailout plan
Congressional leaders are near agreement on key provisions of financial rescue but are struggling to gain the support of rank-and-file members.

New landscape, same proposals
Neither presidential candidate seems ready to readjust promises to match a changing reality.

Business

Submit your questions
Use this form to ask questions about how the crisis on Wall Street may affect you. Look for answers to selected questions in tomorrow's paper and on washingtonpost.com.

Currency's dive furthers economic pain
The dollar takes its steepest one-day drop in years as the financial crisis erodes the nation's basic measure of value, helping to drive US stocks lower and the dollar-based price of oil and gold higher.

GLOBE AND MAIL, Canada

Front page

Layton hints at possible Liberal-NDP coalition
NDP Leader Jack Layton refused Monday to rule out the possibility of entering an alliance with the federal Liberals to prevent another Harper government.

Student opens fire in Finnish school
A student who shot and killed several other students at his school in Finland has killed himself, the mayor of the town of Kauhajoki said on Tuesday.

Business

HBO Canada coming, but with a catch
After walking away with the lion's share of Primetime Emmys at the television industry's annual awards show Sunday US cable juggernaut HBO is preparing to set foot in Canada for the first time as a standalone network.

Chrysler output nears No 1 in Canada
Chrysler LLC is close to knocking off General Motors Corp. from its decades-long perch as the largest vehicle manufacturer in Canada.

BUENOS AIRES HERALD

Front page

CFK moots deal with bond holdouts
The first full day of President Cristina Fernández de Kirchner’s visit to New York for the 63rd General Assembly of the UN which she is scheduled to address today at noon, was marked by a positive market reaction in Argentina to her hint that an agreement may be clinched with the so.

Cobos holds powwow with Macri
Buenos Aires City Deputy Mayor Gabriela Michetti yesterday said a meeting between Vice-President Julio Cobos and Mayor Mauricio Macri was not "premeditated" with any aim to "create a conspiracy scenario."

US bailout: ‘great deal of progress’
The Bush administration and leading US lawmakers have agreed to include mortgage aid and strong congressional oversight along with unprecedented help for failing financial institutions, a key lawmaker said.

By: Staff Reporter
+44 20 8652 3214

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