In Tuesday's Americas papers

20 January 2009 11:00 [Source: ICIS news]

Front page

Obama to call for a new era of responsibility
Americans poured into the nation’s capital to celebrate the inauguration of their first black president. But with the US in its worst economic crisis since the Depression and at war on two fronts, Barack Obama was expected to call on the country to embrace a new culture of responsibility when he takes office at noon.

Deficits restrict Obama as his promises come due
Barack Obama won the presidency making hundreds of promises large and small, from ending the war in Iraq and global warming to boosting low-income heating assistance and expanding the Peace Corps. Now comes the hard part: translating those pledges into policies, and whittling down the list while keeping his broad coalition of supporters happy.

Trio from Clinton era influence the new White House indirectly
When Barack Obama walks into the White House on Tuesday, three of the most important figures in his new administration won’t be with him. Technically, they won’t be members of his administration at all.

Money & Investing

Fiat nears stake in Chrysler that could lead to takeover
In an attempt to revive two of the world’s storied automakers, Italy’s Fiat SpA and Chrysler LLC are poised to announce a partnership as soon as today in which Fiat could take control of the US company’s operations, people familiar with the matter said.

Merrill architects criticised
Just weeks after the sale of Merrill Lynch & Co to Bank of America Corp, the architects of the transaction are coming under fire.

UK boosts its bailout as bank losses rise
The UK government on Monday committed tens of billions of dollars more to revive its flagging financial-rescue plan, while one of the bailout’s primary beneficiaries, Royal Bank of Scotland Group PLC, warned of a massive 2008 loss.

THE NEW YORK TIMES

Front page

Transition holds clues to Obama governance
On the day before moving into the nation’s most storied house, Barack Obama visited a shelter for teenagers with no home.

For the jobless, hope and fear for a new day
A new president is about to take responsibility for the American economy - the first black president, which has a particular resonance for Mr Lewis, 52, an African-American.

Business Day

Banks foreclose on builders with perfect records
Dave Brown, one of this city’s best-known home builders, had kept his head above water through the housing downturn, not missing a single interest payment on his loans.

Grandson of Toyota founder will lead
Toyota Motor on Tuesday named Akio Toyoda, 52, to head the company his grandfather founded in a widely expected management reshuffle as the company struggles amid the worst decline in demand in decades.

WASHINGTON POST

Front page

Despite snarled traffic and cold, city is already celebrating
Tens of thousands of festive visitors crowded the Mall and the city yesterday, counting down the hours to today’s historic inauguration, while authorities prepared to welcome - and control - what could be the largest crowd in Washington’s history.

Be our guest!
Captains of Washington’s hospitality industry like to say the inauguration is their Super Bowl. But that’s wrong.

Business

Clean-Air rule could be stimulus roadblock
Some of Obama’s stimulus package could be squandered unless the new president blocks a rule that might keep some earthmovers from doing their economy-lifting work, a group of California contractors says.

Ford’s hybrid chief charges forward
One of Detroit’s most influential women, Nancy Gioia, is tasked with transforming the iconic automaker into the fuel-efficiency leader in every single vehicle category.

GLOBE AND MAIL, Canada

Front page

On this historic day, anger gives way to hope
Thomas Gideon was only 12 when he foolishly walked into a restaurant in Seneca, South Carolina, and sat at the counter. "They told me to get out and go round to this little window at the back," he remembered on Monday. "That’s where they served black people."

Khadr said Arar was at Afghan camp, court told
Omar Khadr identified Maher Arar as one of the people he saw in an al-Qaeda safe house in Afghanistan, an FBI agent testified in a Guantanamo Bay courtroom on Monday, presenting a version of events that contradicts Mr. Arar’s claim that he has never been to Afghanistan.

Business

Facing credit crisis, Obama team revives Bad Bank strategy
When he takes office on Tuesday, Barack Obama inherits a deep recession, a stubborn credit crisis, a spiralling national debt and now, the latest phase in a sputtering effort to bail out the U.S. financial system.

Rule change would allow Ottawa to buy bank stock
Ottawa is looking at changing little-known rules that prevent governments from owning shares of Canadian banks and insurers, according to sources.

BUENOS AIRES HERALD

Front page

CFK in Cuba: wide-ranging talks
President Cristina Fernández de Kirchner talked on Monday with Cuba’s President Raúl Castro as the leaders got together to sign agreements to bolster cooperation between the countries in areas like health and technology.

Roadblock to prevent demolition of slum housing
A group of residents of the Villa 31 slum on Monday blocked the access to the Retiro bus station, protesting against the City government’s decision to demolish 50 houses in the shantytown. The government’s reasoning is that the houses are in danger of collapsing.

Biggest loss for a UK company
Britain launched a second bank rescue plan on Monday and Royal Bank of Scotland (RBS) recorded the biggest loss in UK corporate history last year, US$41bn.

By: Staff Reporter
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