In Tuesday's Americas papers

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

THE WALL STREET JOURNAL

Front page

Independent voters move toward Obama
Independent voters are starting to swing behind Barack Obama and Joe Biden, who continue to benefit from economic turmoil and the public response to their debate performances, according to a new Wall Street Journal/NBC News poll.

One in five baby boomers cuts retirement saving
One in five middle-aged workers stopped contributing to their retirement plans in the last year, and one in three has considered delaying retirement, according to a new survey by AARP, an advocacy group for older Americans.

McCain, Palin intensify swipes against Obama
John McCain and Sarah Palin, facing declining poll results four weeks before the election, intensified their attacks against Democratic rival Barack Obama by raising questions about his character and his ties to controversial figures.

Money & Investing

BofA cuts dividend, posts lower profit
Bank of America Corp., the consumer banking giant whose nationwide base of depositors has helped stabilise it through the current banking crisis, slashed its quarterly dividend and announced plans to raise $10bn in new capital as it conceded that "recessionary conditions" are sending tremors though the bank.

Markets fall on doubts rescues will succeed
The global financial crisis has taken a perilous turn: as government efforts to tame it grow more aggressive, markets are becoming less confident those efforts will succeed.

Citi, Wells Fargo take breather
Wachovia Corp. and suitors Citigroup Inc and Wells Fargo & Co agreed to a two-day truce in their legal bickering, a move aimed at giving some breathing room to negotiators trying to reach a compromise in the fight to buy Wachovia.

THE NEW YORK TIMES

Front page

A dead language that’s very much alive
The Latin class at Isaac E Young Middle School here was reading a story the other day with a familiar ring: Boy annoys girl, girl scolds boy. Only in this version, the characters were named Sextus and Cornelia, and they argued in Latin.

Campaigns shift to attack mode on eve of debate
Senator John McCain and Senator Barack Obama entered their general election contest this summer denouncing American politics as trivial and negative, and vowing to run campaigns that would address the concerns of voters during a difficult time.

Business Day

Global fears of a recession grow stronger
When the White House brought out its $700bn rescue plan two weeks ago, its sheer size was meant to soothe the global financial system, restoring trust and confidence. Three days after the plan was approved, it looks like a pebble tossed into a churning sea.

Fed considers plan to buy companies’ unsecured debt
As pressure built in the credit markets and stocks spiralled lower around the world on Monday, the Federal Reserve was considering a radical new plan to jump-start the engine of the financial system.

WASHINGTON POST

Front page

Nightmare for car sales
Now the pain of Wall Street's crisis is being felt in the so-called "real economy," the land of jobs, goods, services -- and people buying and selling cars.

Suit on tobacco ads sparks feisty debate
The Supreme Court wades into a complicated legal debate over whether tobacco companies can be sued in state courts for deceptive advertising of "light" cigarettes.

Business

Fed weighs greater role in making cash infusions
After saying it would push $900bn into banking system, central bank considers offering support to a wider range of businesses facing cash problems.

US shares sink despite late rally
The Dow Jones industrial average tumbled along with stock markets around the world Monday, raising fears of a cascading market meltdown as oil prices sank and investors rushed for the safety of government bonds and gold.

GLOBE AND MAIL, Canada

Front page

Leak of Martin memoirs sends Liberals scrambling
The Liberals scrambled to contain the fallout of Paul Martin's scathing autobiography on Monday, fearing their election campaign could be derailed by accusations that Jean Chrétien deliberately undermined the party before his 2003 retirement.

Economic storm touches down
Conservative Leader Stephen Harper walked a fine line last night amid plunging markets, reaching out to reassure spooked investors but warning of more turmoil if his opponents win.

Business

Banking crisis hits Iceland and Britain
Iceland said Russia had offered it an emergency loan of €4bn on Tuesday and Britain considered injecting capital into its banks to rescue victims of the global financial crisis.

Emerging markets pounded in global rout
Investors fled to the safety of U.S. Treasuries and a handful of other trusted government bonds and gold on Monday, accelerating a commodity rout driven by the global credit freeze.

BUENOS AIRES HERALD

Front page

Stock markets falling like ninepins
Stock markets slumped worldwide on Monday, some marking record one-day drops, on fears the global financial crisis will worsen and hit the wider economy despite bank bailouts in the US and Europe.

To Chile
Chile’s president Michelle Bachelet on Monday said that President Cristina Fernández de Kirchner will travel to Chile on December 4 and 5 to celebrate the 30th anniversary of Pope John Paul II’s intervention to avert a war between Argentina and Chile over the Beagle Channel sovereignty.

Zoellick: G7 is not working
The Group of Seven industrialised countries is outmoded and should be replaced with a new entity that would include rising economies in Asia and Latin America, World Bank president Robert Zoellick said on Monday.

By: Staff Reporter
+44 20 8652 3214

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