In Wednesday's Americas papers

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

THE WALL STREET JOURNAL

Front page

US Court clears Chrysler sale to Fiat
The US Supreme Court on Tuesday cleared the way for Chrysler LLC to exit bankruptcy court, lifting a stay on its proposed sale to a group including Italy’s Fiat SpA.

Airbus looks at sensors in crash
Air-safety regulators are considering requiring the replacement of parts that may have been involved in last week’s Air France crash.

ECB expects no recovery before 2010
The ECB expects further financial-sector weakness could help keep the euro-zone economy from expanding before mid-2010, a top policy maker said.

Money & Investing

German retailer Arcandor files for insolvency
Long-struggling German retail and tourism group Arcandor AG filed for insolvency on Tuesday, paving the way for a possible linkup with rival Metro AG and a consolidation of the German department-store sector.

Salaries safe, bonuses hit
The Obama administration is dropping its plan to cap salaries at firms receiving bailout money, leaving them subject to congressionally imposed limits on bonuses.

Banks to repay bailout cash
The Treasury granted permission to 10 of the nation’s largest financial institutions to repay $68bn in government-bailout cash.

THE NEW YORK TIMES

Front page

As Iran gets ready to vote, the economy dominates
In the West, Iran’s coming presidential election is viewed largely through the lens of President Mahmoud Ahmadinejad’s crackdown on social freedoms and his combative approach to Israel, the United States, and Iran’s nuclear programme.

Iraq moves ahead with vote on US security pact
The Iraqi government is pressing ahead with plans to hold a national referendum on the Iraqi-American security agreement - a measure likely to lose if put to a popular vote with the outcome that American troops could be forced to leave as early as next summer, nearly a year and half ahead of schedule.

Business Day

As court clears path, Chrysler is set to exit bankruptcy
Chrysler appeared poised to emerge from bankruptcy by early Wednesday after the United States Supreme Court declined on Tuesday to hear a challenge by three Indiana state funds and several consumer groups to the sale of most of its assets to Fiat.

In Asia, hints of a distant and fragile recovery
The global economy may have stopped its dramatic freefall by now, but data out of the Asia-Pacific region on Wednesday underscored what economists have been cautioning for months: that an actual return to growth is months off, and once here will be feeble.

WASHINGTON POST

Front page

Deeds surges to stunning win in Virginia
R Creigh Deeds, a longtime state legislator from rural Bath County, won a stunning come-from-behind victory in the Democratic primary for Virginia governor last night, overwhelming a pair of better-funded and better-positioned opponents.

Supreme Court clears the way for Chrysler sale
The US Supreme Court last night declined to hear an appeal from opponents of the sale of Chrysler’s assets to Italian automaker Fiat, clearing the way for the government-backed transaction to take place immediately.

Business

Goals shift for reform of financial regulation
The Obama administration is pulling back from some of its most ambitious ideas for overhauling the financial system, after determining that the consolidation of power under fewer federal agencies would face grave opposition by lawmakers and regulators, sources familiar with the discussions said.

Tax on health benefits weighed
A Senate plan to overhaul the nation’s health system is likely to include a new tax on some employer-provided health benefits that exceed the value of the basic plan offered to federal employees, currently about $13,000 a year for a family of four, the chairman of the Senate Finance Committee said yesterday.

GLOBE AND MAIL, Canada

Front page

NDP wins majority in Nova Scotia
Voters in Nova Scotia have turned their backs on the traditional parties in unprecedented numbers, giving the New Democrats a majority to shepherd the province through economic turmoil.

Bob Rae denied entry into Sri Lanka
Sri Lanka on Wednesday deported a Canadian legislator it views as sympathetic to the Tamil Tiger separatists, the latest foreign official it has sent out of the country at the end of a 25-year war.

Business

Top court will not block Chrysler sale
The US Supreme Court on Tuesday cleared the way for Chrysler LLC’s sale to Fiat, turning down a last-ditch bid by opponents that included consumer groups and three Indiana pension plans.

Bank websites may sell insurance, regulator rules
Banks have notched a rare victory in their fight with Ottawa over selling insurance, setting off a new round in the long-running brawl with the country’s powerful insurance broker lobby.

BUENOS AIRES HERALD

Front page

Tension mounts as Kirchner trashes De Narváez, Macri
Ex-president Néstor Kirchner described accusations against his opponent in the mid-term vote, Francisco De Narváez, who was summoned to testify in an investigation into a drug-trafficking organisation as "preoccupying," and urged him to attend a court hearing tomorrow to explain why one of his cell phones was contacted by a drug trafficker.

Carlos Pellegrini School suspends classes, 28 schools closed
Six schools suspended classes today and 28 schools closed in Buenos Aires City, Greater Buenos Aires, Mar del Plata city and Rosario city.

CFK: Govt’s model for Argentina is ‘different’
President Cristina Fernández de Kirchner said today in the city of Bahía Blanca that "the country’s rennovation is a product of a political model that was instigated on 25 May, 2003."

By: Staff Reporter
+44 20 8652 3214

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