In Friday's Americas papers

03 October 2008 12:00  [Source: ICIS news]

THE WALL STREET JOURNAL

Front page

Biden, Palin clash in sharp-edged debate
A folksy Palin attacked the Democrats over tax hikes, Iraq and partisanship. Biden kept his focus on charging McCain with wanting to give tax breaks to the rich, deregulate the economy and keep the US mired in wars.

Stocks thrashed on recession fears
The Dow industrials fell nearly 350 points on rising recessionary fears, despite progress toward passage of a bailout bill.

Rescue plan's prospects brighten
President George W Bush's plan to rescue financial markets appeared to gather momentum in the House of Representatives as leaders of both parties stepped up efforts to corral support after the initiative's strong bipartisan showing in the Senate.

Money & Investing

House holds fate of bailout plan
Focus returned to the House after the Senate handily passed a controversial financial rescue package. Republican and Democratic party leaders worked to secure enough votes for a Friday vote to succeed.

Developer sells land dirt cheap to reap tax benefits
As it struggles through the housing crisis, home builder DR Horton Inc is unloading land across California at big discounts.

Office space is emptying out
Businesses are dumping office space at the fastest pace since the months after the Sept 11 attacks, increasing the financial stress on commercial-real-estate owners and their lenders, many of them already ailing financial institutions.

THE NEW YORK TIMES

Front page

Palin and Biden are cordial but pointed
Gov Sarah Palin used a steady grin, folksy manner and carefully scripted talking points to punch politely and persist politically at the vice-presidential debate on Thursday night, turning in a performance that her rival, Senator Joseph Biden, sought to undermine with cordially delivered but pointed criticism.

Business Day

Agency’s ’04 rule let banks pile up new debt, and risk
Christopher Cox, left, chairman of the Securities and Exchange Commission, and Roel C. Campos at a House hearing in 2007. Mr. Campos was on the commission in 2004 when a decision was made to change the net capital rule for big investment banks.

Persistent anxiety over tight credit sends stocks plunging
Declines in the stock market suggest that the problems of the tight credit market, once mostly contained to Wall Street, are spreading across the broader economy.

WASHINGTON POST

Front page

Palin and Biden court middle-class voters
Candidates trade friendly but pointed exchanges on the economy, taxes and energy policy, as discussions focus on presidential nominees.

Biden's steady voice
Much of the pre- and post-debate spin centered on Palin, but the Democratic candidate tried to reassure voters about his and Obama's readiness for office.

Business

Greed is fine. It's stupidity that hurts
Without some measure of greed and the tension it brings to economic transactions, capitalism wouldn't be as good as it is in allocating resources and spurring innovation.

Marriott plans cutbacks after profit slump
Executives at Bethesda, Md., firm say credit crisis, the deteriorating economy will force them to cut staff, cancel or delay projects and slash share repurchases.

GLOBE AND MAIL, Canada

Front page

Harper attacked for failing to address economic turmoil
Conservative Leader Stephen Harper came under fire from all sides in the English-language debate Thursday night as rivals tore into the Tory economic record and charged he's not adequately responding as turmoil from the US financial meltdown spills into Canada.

Palin talks straight but still stumbles; Biden fights back - and sheds a tear
With a straight-to-the-camera appeal to "Joe six-pack, hockey moms", a confident Sarah Palin sought to revive the flagging Republican campaign last night, in the first and last vice-president's debate.

Business

Bailout bickering masks deeper economic woes
Wall Street's implosion has diverted attention from another grim reality: The powerful US economy is gearing down, and fast.

Canada's commodity engine stalls
The commodities sector, which has been the main driver of Canada's economic strength and a buffer against the subprime woes of the United States, imploded yesterday, stoking fears that Canada can no longer outrun the global financial crisis.

BUENOS AIRES HERALD

Front page

Crisis spreads ahead of bailout vote
Pessimism about a protracted US economic downturn washed over global financial markets yesterday, sending stocks plunging and further tightening credit markets. 

Biden v Palin in vice-presidential faceoff
Republican Sarah Palin and Democrat Joe Biden called for a change in economic policies during their debate last night, but Biden said Republican presidential candidate John McCain was too "out of touch" to lead the charge. 

Alleged Sinaloa ringleader caught in Paraguay
Paraguay’s anti-drug squadron yesterday arrested three Mexican citizens, including Juan Jesús Martínez Espinoza who is allegedly linked to a drug dealing case under investigation in Argentina and is also presumably connected to the so-called "Triple Murder" for ephedrine smuggling, a chemical used in drugs production. 

By: Staff Reporter
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