In Thursday's Americas papers

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

THE WALL STREET JOURNAL

Front page

BP taps Ericsson CEO Svanberg as chairman
BP appointed Ericsson CEO Carl-Henric Svanberg as its chairman, showing how eager western majors are to position themselves as technology companies rather than straight-forward oil-and-gas producers.

Sanford Odyssey ends in tears
South Carolina’s governor, whose disappearance had gripped the US, admitted he had been in Argentina visiting his mistress. He had been seen as a possible presidential candidate.

Fed on hold as slump eases
The Fed decided against enlarging its programme to buy Treasury bonds to spur growth. It said its key interest rate will remain near zero "for an extended period".

Money & Investing

GMAC limits wholesale financing
GMAC is suspending wholesale financing for certain dealers it considers to be too risky to lend to, a move that could push some dealers out of business and hurt Chrysler sales.

Sinopec agrees to $7.2bn deal
Sinopec has agreed to acquire oil explorer Addax for $7.2bn, the largest overseas takeover ever by a Chinese company.

Once-hot hotel deals cool
Wall Street’s foray into the hospitality and lodging industry has gone bust amid sinking demand for travel and plummeting real estate values.

THE NEW YORK TIMES

Front page

As crackdown goes on, Ahmadinejad assails Obama
Lashing out at American criticism of what was officially depicted as a landslide victory in Iran’s disputed presidential elections, President Mahmoud Ahmadinejad assailed President Obama on Thursday, telling him to stop interfering in Iran’s affairs and accusing him of striking the same hostile tone as his predecessor, George W Bush.

Arab states aligned with US savor turmoil in Iran
The rancorous dispute over Iran’s presidential election could turn into a win-win for Arab leaders aligned with Washington who in the past have complained bitterly that President Mahmoud Ahmadinejad was destabilising the region and meddling in Arab affairs, political analysts and former officials around the region said.

Business Day

Developing world seen as engine for recovery
The Organisation for Economic Cooperation and Development says emerging giants like China, India and Brazil are set to rebound strongly next year, while Europe, the United States and Japan lag.

European Central Bank to offer record amount in loans
The European Central Bank said on Wednesday that it would extend one-year loans of more than €442bn euros ($620bn) as it sought to thaw lending in the 16 nations that share the currency.

WASHINGTON POST

Front page

Limits on emissions have wide support
Three-quarters of Americans think the federal government should regulate the release into the atmosphere of greenhouse gases from power plants, cars and factories to reduce global warming, according to a new Washington Post-ABC News poll, with substantial majority support from Democrats, Republicans and independents.

For Republicans, a long winter gets longer
Mark Sanford’s summer adventure to Argentina – no, he was not hiking the Appalachian Trail, as his aides incorrectly told reporters – is now a full-fledged personal and family embarrassment, a story of infidelity followed by a public confession of the kind that has become all too familiar from political leaders.

Business

Bracing for budget triage
Hospitals throughout the region, such as the Washington Rehabilitation Hospital, experience soaring demand from uninsured patients and plummeting revenue from reductions in investment income, charitable giving and elective surgery.

Hedge funds fear more regulation
Among respondents to newly released survey, 38% say that "onerous government regulation" is the biggest threat to the industry, reflecting their anxiety over Washington’s heightened attention to hedge funds and other Wall Street firms involved in the financial crisis.

GLOBE AND MAIL, Canada

Front page

‘Kidney swap’ a medical first for Canadian doctors
In a Canadian medical first, four people with severe kidney failure received new organs from living donors in simultaneous "kidney swap" operations in Vancouver, Edmonton and Toronto.

Toronto strike locked in political stalemate
Toronto residents face another steamy day without pools or garbage collection as the key players in a four-day strike by municipal workers remain locked in a political stalemate the Ontario Premier refuses to end – for now.

Business

Alberta aims to revive natural gas industry
The government of Alberta, sideswiped by the recession and depressed natural gas prices, is stepping up its efforts to resuscitate drilling and compete against massive supplies of shale gas from British Columbia and the United States.

Sinopec buys Addax Petroleum
Despite recession, the Chinese are aggressively pursuing energy assets.

BUENOS AIRES HERALD

Front page

De Narváez backs nationalisations, shocks allies and foes
Lower House candidate Francisco De Narváez said in an interview published today that "certain companies that provide public services, such as water suppliers, energy and transport" should be managed by the state, in a change of course that came as a surprise both for his political contenders and his allies within the Unión-PRO.

Missing US governor admitted he was in Argentina visiting lover
South Carolina Governor Mark Sanford, who was missing since last Thursday, returned to the United States today from a secret private trip to Argentina, ending days of speculation over his whereabouts and raising questions about his judgment.

Candidates close their campaigns
Candidate for the Victory Front, Néstor Kirchner, insisted today that the people "take care of their vote" and said that the opposition sectors have come "to take the peoples’ money."

By: Staff Reporter
+44 20 8652 3214

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