In Monday's Americas papers

20 April 2009 11:30  [Source: ICIS news]


Front page

Glaxo to buy Stiefel for $2.9bn
GlaxoSmithKline agreed to acquire Stiefel Laboratories for about $2.9bn in a deal that continues a wave of acquisitions in the drug industry.

Pepsi bids $6bn for bottlers
PepsiCo set a $6bn bid for its two largest independent bottlers. A deal would give it control of about 80% of its distribution.

UBS to sell Brazilian at loss
UBS said it will sell Banco Pactual back to one of the Brazilian investment bank's original owners for $2.5bn, at a loss, a move that will lift the Swiss bank's capital.

Money & Investing

Fed's test: When to turn off money?

Fears that Fed actions may spur inflation have taken a backseat to a more prominent threat: deflation.

Downturn lands on Mongolia's nomads
Falling demand for cashmere in the West is cutting into earnings among nomadic herders in Mongolia. The result: herder loan defaults.

UK private-equity investment falls
Private equity and venture capital investment by UK-based firms fell below $29.55bn in 2008, its lowest level for three years.


Front page

Waterboarding used 266 times on two suspects
CIA interrogators used waterboarding, the near-drowning technique that top Obama administration officials have described as illegal torture, 266 times on two key prisoners from Al Qaeda, far more than had been previously reported.

Hungary’s spirits are back up, on a horse
Overdose, a thoroughbred bought for a pittance, has turned into a national hero in Hungary.

Business day

Asian markets inch higher ahead of US earnings
Stocks made slight gains after an upbeat assessment of the Chinese economy soothed nerves ahead of key earnings reports from leading US companies.

Italians look to small screen
Several of Italy’s best-known directors have turned their lenses to making short movies for the Internet.


Front page

Obama to order cabinet to identify budget cuts
Convening members for first time today, president is to ask for a combined $100m to be cut over the next 90 days, senior administration official says.

DC area families take green to the extreme
Will Stewart and his wife, Ann, of Leesburg are trying to be environmentally conscious.


Imagining a bolder role for IMF
Documents suggest coming shift in the fund from advising to actively managing global economy.

In NC, recession breeds a health-care crisis
Job losses leave state with highest number of uninsured.


Front page

Canadian jet crew held hostage in Jamaica
A gunman described as "mentally challenged" hijacked a Canadian jet on the tarmac near the resort city of Montego Bay and was holding members of the flight crew hostage after releasing the passengers unharmed, officials said on Monday.

UN chief regrets boycott of racism meeting
UN Secretary-General Ban Ki-moon sought on Monday to salvage a UN racism summit that the United States and its major allies are boycotting over concerns about its draft declaration.


Canada facing long-term pension funding crisis: Survey
Senior corporate executives express highest level of concern since annual survey began six years ago.

Vale Inco warned over shutdown
Mining giant Vale Inco Ltd, which plans to shut its Sudbury nickel mines for eight weeks to cut costs, got a warning on Sunday from Industry Minister Tony Clement that his government is considering legal action to fight the move.


Front page

‘Free Cuba’s prisoners’
US President Barack Obama yesterday suggested that Cuba release its political prisoners and defended his highly publicised handshakes with Venezuelan President.

Windshield shattered
President Cristina Fernández de Kirchner yesterday wrapped up her participation in the Summit of the Americas and returned to the country after the presidential plane’s windshield cracked and caused her to change planes in Caracas.

The United Nations opens its first global racism conference in eight years today with at least eight countries boycotting the event out of concern that Islamic countries will turn it into a one-sided onslaught on Israel.

By: Staff Reporter
+44 20 8652 3214

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