In Monday's Americas papers

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

THE WALL STREET JOURNAL

Front page

Fed pushes to resolve Wachovia deal dispute
Citigroup and Wells Fargo were locked in a ferocious battle for Wachovia. The Federal Reserve Bank of New York was discussing potential compromises that could result in carving up Wachovia between its two suitors.

Europe races to shore up banks
Europe worked to shore up its financial system while Germany moved to guarantee bank deposits and planned a bailout for Hypo Real Estate. Luxembourg and Belgium worked out a Fortis rescue.

GOP wants audit of Obama funds
Republican officials claim Obama may be accepting donations from foreign nationals, and that some donations exceed federal limits for individuals.

Money & Investing

Citi, Wells Fargo discuss carve-up
Citigroup and Wells Fargo were locked in negotiations on Sunday night in a ferocious battle for Wachovia. The Federal Reserve Bank of New York was discussing potential compromises that could result in essentially carving up Wachovia between its two suitors.

BofA in settlement worth over $8bn subscriber content
Bank of America has agreed to settle claims brought by state attorneys general regarding risky loans originated by Countrywide, in a deal that could be worth more than $8.4bn.

The two faces of Lehman's fall subscriber content
Lehman's behind-the-scenes maneuvering prior to its bankruptcy filing raises questions about whether it crossed the line into misleading clients and investors.

THE NEW YORK TIMES

Front page

Financial crises spread in Europe
The growing crisis has underlined the difficulty of taking concerted action in Europe because its economies are far more integrated than its governing structures.

Full of doubts, US shoppers cut spending
American consumers are pulling back on their spending, all but guaranteeing that the economic situation will get worse before it gets better.

Business Day

Stocks fall sharply across Asia
Growing fears about the health of banks around the world and the prospects for a downturn in Asian exports pushed down stocks throughout the region.

Like JP Morgan, Warren Buffett braves a crisis
Comparing the two men in periods of market turmoil reveals how much some things have changed over the years and how others have not.

WASHINGTON POST

Front page

Obama may benefit from voter registration gains
Democrats are poised to profit from rolls that have expanded by 4m voters in key states in the past year. Deadlines in many states are today.

Artful dodging trumps open evasion, studies show
Republican vice presidential candidate Sarah Palin has gotten the most heat for being evasive in this season of political debates, but new research suggests that the contrast between her and the other top-of-the-ticket candidates has less to do with her lack of responsiveness than with the three senators' skill at dodging questions without seeming to.

Business

As Wachovia's suitors fight, fed tries for deal
A high-stakes battle over who will gain control of the nation's fourth-largest bank intensified over the weekend, with the Federal Reserve acting as a go-between in the pursuit of Wachovia by both Citigroup and Wells Fargo.

Biotechs race to create new anthrax vaccine
Developing next-generation version of vaccine is not for the weak of heart or wallet. A revoked federal contract for a new-and- improved vaccine left a California biotech in ruins. That has not stopped two local firms from entering the fray.

GLOBE AND MAIL, Canada

Front page

Tightening race puts Harper in minority territory
With eight days remaining until Canada votes and anxiety growing over the economy, the race between Liberals and Conservatives is tightening in Ontario and Quebec, sending Stephen Harper's hopes for a majority government fluttering further out of reach.

Immigrants face growing economic mobility gap
Children of Chinese and South Asian immigrants to Canada do dramatically better over time than the offspring of blacks, Filipinos and Latin Americans, new census data reveal.

Business

Europe races to shore up faltering banks
The German government led a €50bn ($74bn Canadian) bailout of the country's second-biggest commercial mortgage lender late Sunday night and promised to guarantee all personal bank deposits in a bid to stem a spreading European financial crisis.

World stocks dive to three-year lows
World stocks dived to three-year lows today as investors fled to government bonds and the low-yielding yen, fearing efforts by policy-makers to contain the credit crisis might not be enough to prevent a recession.

BUENOS AIRES HERALD

Front page

Europe vows to fight financial crisis
European leaders vowed yesterday to do all they could to fend off the financial mayhem that has snowballed out of Wall Street and is now hitting banks in Europe.

Palin: Obama ‘palling around with terrorists’
Republican vice-presidential candidate Sarah Palin yesterday accused Democrat Barack Obama of "palling around with terrorists" because of his association with a former 1960s radical, stepping up the campaign’s effort to portray Obama as unacceptable to US voters.

Sacrista pro euthanasia, abortion and bullfighting
By Guillermo Háskel Herald staff Spanish actor José "Pepe" Sacrista, an icon of the post-Franco era and one of the darlings of the Argentine public, bluntly calls the ETA Basque separatist group "real sons of bitches," alleging that its practices lost legitimacy once Spain recovered democracy in 1975 after 36 years of dictatorship.

By: Staff Reporter
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