In Tuesday's Americas papers

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

Front page

Court rules for a brother in Ambani family feud
In the latest episode in India’s highest-profile family feud, a court ruled in favour of Anil Ambani in a dispute over the price of natural-gas contracts with his billionaire brother Mukesh Ambani, potentially resulting in billions of lost revenue for Mukesh’s company.

Canada firm seeks stake in India’s top exchange
A Canadian investment firm on Monday moved to purchase as much as 5% of the National Stock Exchange of India Ltd., which dominates trading in that country's developing cash equities and derivatives markets.

Glaxo seals marketing pact with Dr Reddy’s
Indian drug maker Dr Reddy’s Laboratories Ltd and UK-based GlaxoSmithKline PLC on Monday disclosed a partnership focused on emerging markets, excluding India.

Money & Investing

Key investor stands in Hotel rubble
In one of the biggest real-estate bankruptcies in the current slump, the Extended Stay Hotels chain filed for Chapter 11 protection on Monday, collapsing under the debt from its $8bn top-of-the-market buyout in 2007.

Fiat hopes second US try is winner
When Fiat SpA entered the US market in the late 1970s, the Italian auto maker thought it had the answer to that decade’s gas crisis: A fleet of small, fuel-efficient cars.

Lukoil, Iraqi officials in talks to revive oil deal
The head of Russian oil firm OAO Lukoil Holdings will lead a delegation to Iraq on Wednesday to continue talks on reviving a $3.4bn oil deal from the Saddam Hussein era, a Lukoil official said.

THE NEW YORK TIMES

Front page

Iran reports seven deaths in mass protest against vote result
Less than 24 hours after the largest demonstrations here since the 1979 revolution and the reported deaths of seven protesters, Iran’s Guardian Council said on Tuesday it was prepared to ordered a recount of disputed ballot boxes in Friday’s deeply divisive elections, according to state television.

Sudanese family reunites in Brooklyn
Growing up among strangers in a refugee camp in the Darfur region of Sudan, four-year-old Wesal Adam knew her parents mostly as faces in photographs and voices on the phone.

Business Day

Credit issuers slashing card balances
The banks were bailed out last fall, the automobile companies last winter. For Edward McClelland, a writer in Chicago, deliverance finally arrived a few days ago.

GM insider wants to show he is tough enough
Can the deeply ingrained culture of a 100-year-old company be transformed by an insider who has never worked anywhere else?

WASHINGTON POST

Front page

Signs of fraud abound, but not hard evidence
Millions of handwritten paper ballots were counted within hours. The challenger riding a surge of momentum and popular enthusiasm lost in a landslide. Other opposition candidates did poorly even in their home provinces.

Seeking Truth and Trust in Pakistan
US envoy Richard C Holbrooke, red-faced and sweaty, sat on the dirt floor of a stifling tent as Aslam Khan, a 38-year-old labourer, spoke haltingly of his family’s panicked flight from a Pakistani army offensive against Taliban forces in their mountain village, three hours north of here.

Business

Dealers say they were led astray as Chrysler fell
During the company’s increasingly frantic final months, the carmaker sought to bolster its bottom line by pressuring dealers to buy more inventory, even as their showrooms overflowed with cars they could not sell.

Golden state is denied US aid
Alarm grows inside the White House as the state’s fiscal condition worsens, but officials are concerned that a bailout of California will set off a cascade of demands from other states.

GLOBE AND MAIL, Canada

Front page

Iran said ready to recount votes
Iran’s top legislative body said on Tuesday it was ready to carry out a partial recount in a disputed presidential election that has prompted the biggest street protests since the 1979 Islamic revolution.

Balsillie still in the game after judge nixes sale
Canadian billionaire Jim Balsillie is not conceding defeat in his bid to buy the Phoenix Coyotes and move the club to Hamilton, despite a court ruling on Monday night that said his current offer did not meet the requirements of bankruptcy laws.

Business

A fragile confidence is shaken
For Mark Carney, Ben Bernanke and the rest of the world’s central bankers, it turns out wrestling with inflation and forecasting economic esoterica such as the output gap is the simple part of managing the financial crisis.

Is it time to lock in your mortgage?
Jas Grewal’s reaction to the recent runup in interest rates was to abandon a sweetheart of a variable-rate mortgage in favour of a safer, but more expensive, fixed-rate mortgage.

BUENOS AIRES HERALD

Front page

CFK: ‘Unemployment rates have dropped significantly under our government’
Argentine President Cristina Fernández de Kirchner remembered that "the same ones that just one week before the Lehman Brothers Bank went down, were saying that Argentina was about to explode, are the ones that never warned the world about the upcoming economical crisis", during a speech at the International Labour Organization (ILO) annual meeting in Geneva (Switzerland).

Palestine claims world shun Netanyahu’s hard demands for peace accord
World powers should isolate Israeli Prime Minister Benjamin Netanyahu after he unveiled tough terms for a Middle East peace accord, an aide to Palestinian President Mahmoud Abbas said today.

Mousavi supporters defy government’s ban and take the streets of Tehran
Tens of thousands of supporters of Iran’s defeated presidential candidate Mirhossein Mousavi gathered in downtown Tehran today, defying an Interior Ministry ban.

By: Staff Reporter
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