In Wednesday's Americas papers

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

THE WALL STREET JOURNAL

Front page

Military command is created for cyber security
Defence Secretary Robert Gates created a new military command dedicated to cyber security on Tuesday, reflecting the Obama administration's plans to centralise and elevate computer security as a major national-security issue.

Obama rips Iran in tactical shift
President Barack Obama delivered his sharpest criticism of Iran's election and political crackdown, throwing into question his plan for diplomatic outreach to Tehran that stands at the centre of his broader Middle East security strategy.

OECD says global recession is nearing bottom
The Organisation for Economic Cooperation and Development said on Wednesday developed economies will shrink less sharply this year than it had previously expected, and will grow next year.

Money & Investing

Sales slowdown trims Oracle profit
Oracle posted a revenue decline for the first time since 2002, hurt by a strong dollar and companies' continued reluctance to spend on new technology projects.

Big oil is ready for gamble in Iraq
The Iraqi government intends to auction off oil contracts to foreign companies for the first time in decades. Despite security risks, Western oil companies are clamouring to get in.

Intel makes another run at phones
Intel and Nokia unveiled a broad alliance in technology for mobile devices, a deal that analyst expect to turn Nokia into an important chip customer for Intel.

THE NEW YORK TIMES

Front page

One candidate withdraws iran election complaints
A hardline candidate in Iran’s disputed presidential election formally withdrew complaints of vote rigging on Wednesday, state television reported, opening a rift among those who had challenged the outcome.

Obama will send envoy to Syria, officials say
President Obama has decided to send an ambassador to Syria after a four-year hiatus, two senior administration officials said on Tuesday evening, in a sign of the deepening engagement between the Obama administration and the Syrian government.

Business Day

Tentative settlement at The Boston Globe
After months of bitter struggle that included a threat to shut down The Boston Globe, the New York Times Company and the paper’s largest union reached a tentative contract settlement on Tuesday night, with employees agreeing to significant cuts in wages, benefits and job security.

OECD sees a slightly better 2009
The worst of the economic crisis appears to be over, the OECD said on Wednesday as it revised upward its main growth forecasts for the first in time in two years.

WASHINGTON POST

Front page

Train operator applied brakes before crash
The operator of the Metro train that slammed into a stationary train in front of it apparently had activated the emergency brakes in a failed effort to stop before the accident, federal officials said yesterday as they searched for the cause of Monday’s Red Line wreck that killed nine and injured 80.

Most want health reform but fear its side effects
A majority of Americans see government action as critical to controlling runaway health-care costs, but there is broad public anxiety about the potential impact of reform legislation and conflicting views about the types of fixes being proposed on Capitol Hill, according to a new Washington Post-ABC News poll.

Business

Dollar’s dominance fades
The financial crisis that started in the US is dramatically intensifying the debate over the future of the dollar.

Foreclosure backlog hurts recovery
A growing number of American homeowners are falling into financial limbo: They are badly behind on payments, but their banks have not yet foreclosed.

GLOBE AND MAIL, Canada

Front page

Sanitiser withheld from flu-ravaged reserves over alcohol fears
In the critical days after dozens of Manitoba aboriginals fell severely ill with swine flu, Health Canada hesitated in sending desperately needed hand sanitiser to native towns because of concerns that people would ingest the alcohol-based gel.

OECD says ‘worst scenario’ averted
The Organisation for Economic Cooperation and Development says prospects for the rich industrial countries that make up its membership are the brightest in two years as the recession finally eases.

Business

Bank lending sees third steep drop
Canadian businesses are increasingly scaling back bank borrowing for everything from expansion to buying inventory, reinforcing expectations that there will be further hurdles for the economy to surmount before a recovery begins in earnest.

As China hoards, concern grows about recovery
For weeks, the ships have been lining up 10 deep at China’s booming Qingdao Port, waiting to unload their cargo into storage facilities that cannot keep pace with the thousands of tonnes of raw materials coming in.

BUENOS AIRES HERALD

Front page

Swapped accusations of alleged electoral deals continue
Congressional candidates Elisa Carrió (Civic and Social Accord) and Daniel Scioli (Justicialist Victory Front) denied remarks made by leaders of the opposition Unión-PRO, who claimed their parties were scheming against Unión-PRO in the midterm campaign.

Government mulls rescue package for La Serenísima
Buenos Aires Governor Daniel Scioli today said the government is "closely following" the situation of dairy producer La Serenísima, which is heavily indebted and is currently discussing a possible sale to French firm Danone.

Source: US govt to grant Ford $5.9bn in loans
An official of the US congress says the Energy Department is lending $5.9bn to Ford Motor Co and providing about $2.1bn in loans to Nissan Motor Co and Tesla Motors Inc from a $25bn fund to develop fuel-efficient vehicles.

By: Staff Reporter
+44 20 8652 3214

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