In Tuesday's Americas papers

02 June 2009 11:30  [Source: ICIS news]

THE WALL STREET JOURNAL

Front page

Hopes dim for missing Air France fight 447
The Airbus A330 plane, with 228 people onboard, was feared lost after an apparent electrical failure while flying through violent storms en route from Rio de Janeiro to Paris.

At Russia's Alfa, hardball still reigns
The financial crisis has taken the swagger out of many of Russia's billionaires, but not Mikhail Fridman, whose Alfa Group is sticking to its hardball business tactics.

Darling hit by scandal
UK Treasury chief Alistair Darling apologised for an expenses "mistake," but faces becoming the most high-profile figure toppled by the expenses scandal.

Money & Investing

Euro-Zone jobless rate tops 9%
The unemployment rate in the 16 countries that use the euro rose to the highest level in 9-1/2 years in April as businesses struggled to survive the recession.

Stocks slip as investors take profits
European stocks slipped, as investors banked some of Monday's hefty gains ahead of a number of economic data releases that will provide more clues about the global economic outlook.

BOE backed for oversight role
Oversight of the UK's financial stability should be returned to the Bank of England from the Financial Services Authority to help mend a faulty supervisory structure, a UK parliamentary committee said.

THE NEW YORK TIMES

Front page

The deadly toll of abortion by amateurs
In Tanzania, where abortion is illegal, the maternal death rate is high in part because of failed abortions.

France and Brazil press search for missing plane
Working through the night, ships and aircraft from Brazil and France continued to search for the wreckage of an Air France jet that disappeared while travelling from Rio de Janeiro to Paris with 228 people aboard.

Business Day

Obama’s test: Restoring GM with a limited US role
The longer the government holds on to its stake in General Motors, the more the pressures will build to intervene in its business.

Now a GM owner, UAW faces delicate balancing act
Life has become more complicated for the United Automobile Workers union, a sometime antagonist and now a major shareholder.

WASHINGTON POST

Front page

End of the road for an Icon?
No longer has a bulwark against recession, GM and its shriveled empire become another victim.

228 feared dead in air accident
Air France jetliner is presumed to have crashed after disappearing over the Atlantic Ocean.

Business

Flickers of hope belie distance from recovery
Despite unquestionable signs of progress in recent months, data make clear that the US economy is still muddling through a deep recession.

Geithner tells China holdings safe
With about 82% of its $2 trillion of foreign reserves estimated to be in dollars, Chinese officials worry publicly that massive US spending could undermine the value of Treasury securities.

GLOBE AND MAIL, Canada

Front page

GM faces high stakes, high costs and high hopes
Now that the auto maker has filed for bankruptcy, Obama takes a gamble with his vision for a new GM that will drive environmental reform as it emerges a leaner, greener and profitable company.

Flight 447 vanished without warning
The sudden, catastrophic loss of a nearly new Airbus jetliner without warning or distress call on a routine Air France transatlantic flight from Rio de Janeiro to Paris suggests a bizarre, perhaps unprecedented, aviation disaster.

Business

Consumer loan losses pinch banks
Amid widespread job losses and battered investment portfolios, consumers are increasingly struggling under the weight of their debts.

Oil sands ‘back in black' as crude nears $70
Surging oil prices and tumbling construction costs have pulled Alberta's stalled oil sands across a major threshold to future profitability, creating new expectations that a comeback may not be as far away as once feared.

BUENOS AIRES HERALD

Front page

Electoral Court endorses testimonial candidacies
The Electoral Court approved the testimonial candidacies and left the coast clear for Daniel Scioli, Sergio Massa and other testimonial candidates for the 28 June elections.

Air France plane crashes into Atlantic, an Argentine was aboard
An Air France plane flying from Brazil to Paris has gone missing with 228 people on board, the airline informed today.

Wages increased 1.4% in April, INDEC says
The salaries of registered workers grew 1.4% in April compared to March, INDEC statistics bureau reported today.


By: Staff Reporter
+44 20 8652 3214



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