In Thursday's Americas papers

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

THE WALL STREET JOURNAL

Front page

New campus unrest as donors rebel
Colleges across the country are fighting battles over so-called restricted gifts, showing why the nation's universities may have trouble finding the cash for urgent needs in a deep recession.

Bidding wars emerge on foreclosures
Falling home prices are igniting bidding wars in parts of the US as first-time buyers compete with investors for properties.

Europe's grim outlook challenges world recovery
Europe's economy faces a deeper recession and a slower recovery than the US or other parts of the world, making it the region that is most hurting prospects for an early end to the global economic slump.

Money & Investing

Lewis says US urged silence on deal
Bank of America CEO Lewis has testified that Fed chief Bernanke and then-Treasury Secretary Paulson pressured the bank not to discuss its troubled plan to buy Merrill late last year.

Banks get new offer for debt in Chrysle
The US Treasury, in an escalating back-and-forth that may determine whether Chrysler LLC avoids liquidation, has quickly responded to Chrysler lenders that rejected an earlier Treasury bid to slash the car maker's debt.

GM plants to close much of summer
GM plans to close most of its plants for much of the summer as it attempts to clear out a vehicle backlog.

THE NEW YORK TIMES

Front page

At Core of detainee fight: Did methods stop attacks?
Starkly opposing narratives have arisen about what, if anything was gained by the CIA’s use of physical pressure to intimidate Qaeda operatives.

A label of pride that pays
Michael Goldin’s furniture company in Berkeley, Calif, is one of many small businesses taking advantage of an enduring appetite for products made in America.

Business day

Treasury is said to increase its offer to Chrysler Lenders
Under the new plan, Chrysler’s lenders, who hold about $6.9bn worth of debt, would reportedly receive about $1.5bn and a 5% equity stake in the reorganised company.

Reported suicide of executive is latest shock at Freddie Mac
David B Kellermann, the troubled mortgage giant’s acting chief financial officer, reportedly hanged himself on Tuesday.

WASHINGTON POST

Front page

Congress debates probe of interrogation tactics
Lawmakers on the Hill are divided after White House releases Bush-era torture memos, a decision that has drawn fire from both the right and left.

Consumer-Lending plan falters
Some cite terms and conditions of government initiative for lower-than-expected participation.

Business

Freddie Mac CFO found dead
Even if his apparent suicide was unrelated to work, the last months of the mortgage giant's acting chief financial officer were consumed by the mounting stresses at the centre of the financial crisis.

Credit plan slow to aid consumers
Sluggish rollout of the program intended to stimulate auto loans, student loans and credit card lending diminishes hopes that a rapid return to healthy lending levels can be engineered, sources say.

GLOBE AND MAIL, Canada

Front page

Ottawa paid no ransom for Fowler, Harper says
Two senior Canadian diplomats abducted in western Africa four months ago were freed on Wednesday by Islamic militants claiming ties to al-Qaeda, and Prime Minister Stephen Harper said Ottawa paid no ransom and exchanged no prisoners for their release.

Business group meets with NHL to discuss second Toronto team
A group of business people wants to bring a second team to the Greater Toronto Area, and the National Hockey League took the group seriously enough to grant it an audience.

Business

Canada prepared to offer auto giants $6bn in financing
The governments of Canada and Ontario are in advanced negotiations to provide unprecedented bankruptcy financing for the Canadian operations of General Motors Corp and Chrysler LLC.

Suncor post $189m loss in first quarter
Suncor Energy Inc [SU-T] reported a first quarter loss on Thursday due to comparatively low oil prices and various accounting and foreign exchange impacts.

BUENOS AIRES HERALD

Front page

‘Economy to shrink 1.5% this year’
The International Monetary Fund (IMF) yesterday forecast that Argentina’s economy will shrink 1.5% this year, but will return to growth in 2010.

CTA holds national day of worker protest
Marchers summoned by the Argentine Workers Congress (CTA) head over Pueyrredón bridge and converge on Congress ending a national day of protest, causing traffic chaos.

Turkey and Armenia agree on roadmap
Turkey and Armenia have made solid progress towards reconciliation and reached agreement on a roadmap to normalise ties, a statement from the Turkish Foreign Ministry said yesterday.

By: Staff Reporter
+44 20 8652 3214

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