In Wednesday's Americas papers

12 November 2008 11:00  [Source: ICIS news]

THE WALL STREET JOURNAL

Front page

US steps up homeowner help
Fannie and Freddie will help streamline the modification of loans for potentially hundreds of thousands of homeowners at risk of foreclosure.

Battle for holocaust assets roils Israel
The global quest to ferret out money and property left behind by Jews killed in the Holocaust is now targeting Israel, but is proving difficult as many big banks and the government itself have resisted the efforts.

Democrats plot detroit rescue
Democratic leaders in Congress said they will push legislation to use the $700bn rescue fund to bail out Detroit auto makers.

Money & Investing

Treasury weighs private role in TARP
The Treasury is considering requiring that firms seeking future government money raise private capital in order to qualify for public funds.

AmEx said to request $3.5bn in US aid
American Express is seeking roughly $3.5bn in taxpayer-funded capital from the government's TARP plan.

Microsoft, Verizon near search deal
Microsoft is moving closer to an agreement with Verizon Wireless to be the default search provider on cell phones, a deal Google was seeking.

THE NEW YORK TIMES

Front page

Democrats seek help for automakers
Congressional leaders said they were ready to push for emergency assistance in a lame duck session, setting up one last showdown with President Bush.

Buying binge slams to halt
With Wall Street edging back from the brink, a consumer confidence crisis has become the biggest short-term economic issue.

Business Day

Lobbyists swarm the treasury for a helping of the bailout pie
The $700bn economic rescue pool is evaporating after the plan set off a lobbying free-for-all.

White house scales back a mortgage relief plan
The goal will be to modify the mortgages of homeowners facing foreclosure so that a monthly loan payment is no higher than 38% of a borrower’s monthly income.

WASHINGTON POST

Front page

Intel leaders expect Obama to replace them
Influential Democrats oppose keeping director of National Intelligence and CIA director because they supported controversial Bush policies.

Shutting Guantanamo a priority
Obama administration to review classified files of detainees as part of intensive effort to close prison.

Business

Programme announced for at-risk mortgages
The government and mortgage industry unveil a new streamlined system for modifying the mortgages of hundreds of thousands of borrowers to avoid foreclosure.

Business groups pushing for relief from pension law
With pension funds facing billions of dollars in shortfalls as markets plunge, a range of companies from Ford to Verizon are pushing Congress to suspend portions of a two-year-old law they say could force them to cut jobs as they shift scarce money into ailing retirement pools.

GLOBE AND MAIL, Canada

Front page

Boyden wins Giller
Three years ago, not a few Canadian book lovers were stunned when Joseph Boyden's debut novel, Three Day Road, failed to make the short list for the Scotiabank Giller Prize.

Three dead in blast at government office in Kandahar
A car bomb exploded next to an Afghan government office during a provincial council meeting Wednesday, killing at least three people and wounding 28, officials said.

Business

Teck Cominco's debt dilemma
On 29 July, his company, Teck Cominco, unveiled a blockbuster $14bn (US) takeover bid for Fording Canadian Coal Trust and Teck shares defied usual deal trading patterns by jumping 6% to close at $42.85 (Canadian) on the Toronto Stock Exchange.

Amid crash, pensions hit new depths
Dramatic losses from a rout in financial markets over the past few months have likely left corporate pension plan funding levels in Canada at an all-time low.

BUENOS AIRES HERALD

Front page

Carrio, Radicals agree ‘to build alternative’
The Civic Coalition and the Radical Party (UCR) yesterday agreed to work together “to build a political alternative” ahead of the 2009 legislative elections. They will also summon the Socialist Party to join them, they said. 

‘Historic’ labour ruling
The Supreme Court yesterday passed what dissident union groups are calling an “historic” ruling, stating that an article of the trade unions law relating to the legal status of members is unconstitutional.

Official indec figure
October inflation 0.4%. Private estimates 0.6%-1.3%, as protesting workers symbolically embrace agency.

By: Staff Reporter
+44 20 8652 3214

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