In Wednesday's Americas papers

11 March 2009 11:30  [Source: ICIS news]

THE WALL STREET JOURNAL

Front page

Madoff set to plead guilty to 11 felonies
Disgraced financier Bernard Madoff is expected to plead guilty on Thursday to 11 felony charges stemming from his decades-long Ponzi scheme, likely putting him in prison for the rest of his life.

Europe’s indexes turn higher
European shares shrugged off early weakness on Wednesday and rallied strongly, tracking an overnight surge on Wall Street.

East Europe credit risks vary, Moody’s warns
Moody’s ratings agency, which triggered a storm of sell offs and criticism last month with a warning on banks exposed to Eastern Europe, called on Tuesday for more differentiation of credit risks in the region.

Money & Investing

Foreclosed houses haunt home builders
As the normally hot spring selling season begins, two houses in the Inland Empire region of Southern California sum up the big problem facing many of the nation’s largest home builders.

Google to sell targeted ads
Google will start selling ads targeted to viewers’ likely interests, the online ad giant’s first step into a controversial type of web advertising its competitors already offer.

UBS restates 2008 loss
Swiss bank UBS AG, which in 2008 reported the biggest-ever Swiss corporate loss, said on Wednesday that its US legal settlement and new write-downs had added more than a billion Swiss francs to the published figure and that it expects earnings to be at risk for some time.

THE NEW YORK TIMES

Front page

Old Clinton hands line up behind Gillibrand
Even as rival Democrats are lining up to challenge to Kirsten E Gillibrand next year, the new senator is acquiring a major advantage: much of Hillary Rodham Clinton’s extensive New York network of campaign operatives, donors and advisers.

Gunman kills 10 in Alabama, then takes his life
A gunman shot and killed at least 10 people, including several members of his family, on Tuesday afternoon in what officials said was the worst shooting in Alabama.

Business Day

Some banks, citing strings, want to return aid
Critics of the White House conditions on bailout funds say the measures border on social engineering.

Madoff lawyer absorbs part of the rage
Ira Lee Sorkin has received many threats over his defense of Bernard L Madoff - one of the many twists in a busy career.

WASHINGTON POST

Front page

Senate approves $410bn bill to fund federal government
The Senate gave final approval last night to a $410bn spending bill to fund most of the federal government for the remainder of the year after overcoming a resilient Republican opposition and several Democratic defections.

White House cheat sheet: Obama names drug czar
President Obama will name Gil Kerlikowske as the nation’s drug czar today, ending a long search that slowed as details of drug arrests involving Kerlikowske’s stepson came to light earlier this year.

Business

Citi’s long history of overreach, then aid
Over the past century, Citigroup has repeatedly launched new strategies to make money, then stumbled and lost money, forcing the government to restore its health. Now the company is dismantling itself.

AOL hands out pink slips, plans to cut 10% of staff
Once the cornerstone of a booming local tech economy, AOL yesterday executed its second major round of layoffs in two years amid a weakening online advertising market.

GLOBE AND MAIL, Canada

Front page

11 dead in US shooting rampage
Nine people were gunned down in a terrifying rampage across two Alabama counties by a lone shooter who authorities said burned down his mother’s home with her inside, killed his own relatives on their porch and shot apparent strangers and police before killing himself.

Neuroscientists fear brain drain as crucial funding disappears
Two years ago, a team of Canadian neuroscientists investigating the roots of Parkinson’s disease, attention deficit disorder and other conditions came up with a plan to bullet-proof their research labs from a devastating drop in funding.

Business

Despite assurances, Buy American lives
Buried deep in the Water Quality Investment Act of 2009, a proposed piece of US legislation that would grant billions to state and local governments, Buy American is alive and well.

Toyota Canada joins call for bailout alternatives
Toyota Canada is urging the federal government to provide billions of dollars in credit and incentives such as a tax holiday to stimulate new car sales, saying such an approach would be preferable to a bailout of General Motors and Chrysler.

BUENOS AIRES HERALD

Front page

Protestants and Catholics display unity
The Protestant and Catholic leaders of Northern Ireland mounted an exceptional display of unity against rising violence from Irish Republican Army dissidents and vowed yesterday to defeat hardliners with the power of popular will.

Dalai Lama decries ‘hell on earth’
The Dalai Lama marked his 50 years in exile yesterday by demanding "meaningful autonomy" for his Tibetan homeland, where Chinese authorities tightened security to stifle protests against their rule.

Riquelme quits
Juan Román Riquelme decided not to play on the Argentine national team after coach Diego Maradona criticised his play in a TV programme.


By: Staff Reporter
+44 20 8652 3214



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