In Tuesday's Americas papers

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

THE WALL STREET JOURNAL

Front page

Fall in GDP reveals deep UK recession
The UK economy posted its sharpest decline in more than 50 years in the first quarter, suggesting the recession has been even harsher than previously thought.

Jackson will from 2002 in spotlight
A will drafted by Michael Jackson in 2002 divides his estate among his mother, children and charities, but does not include his father Joseph. It could play a key role as his tangled financial relationships are unwound.

At least 12 die as Italian freight train derails, explodes
A train derailed and set off an explosion and fire in the middle of a small Italian town, killing at least 12 people - many as they slept in their homes - and injuring at least 50, officials said on Tuesday.

Money & Investing

At chicken plant, a recession battle
A standoff over a Pilgrim’s Pride plant shows how two important imperatives in a recession – creating jobs and cutting excess capacity – can collide.

‘Evil’ Madoff gets 150 years in epic fraud
Bernard Madoff received the statutory maximum sentence of 150 years in prison for authoring the biggest financial swindle in history.

United-Continental plan opposed
The Justice Department belatedly objected to a plan by United Airlines parent UAL Corp and Continental Airlines Inc to cooperate on routes world-wide within the Star Alliance of air carriers, and recommended instead a more-limited trans-Atlantic deal.

THE NEW YORK TIMES

Front page

Vigilante justice and constant fear in South Africa slum
The two robbery suspects had already been viciously beaten, their swollen faces stained with rivulets of red.

US leaves Iraqi district where anger lingers
In one neighbourhood, results of the American "surge" are evident but sectarian tensions remain.

Business Day

Madoff is sentenced to 150 years for Ponzi Scheme
A federal judge sentenced Bernard L Madoff to 150 years in prison for running a huge Ponzi scheme that devastated thousands of investors, calling his crimes "extraordinarily evil".

Iraq begins oil and gas auction
After a year in preparation, a much-heralded auction of licences to develop Iraq’s huge oil reserves began on Tuesday but seemed to run into difficulties when oil and gas companies demanded far more remuneration than the authorities were ready to pay.

WASHINGTON POST

Front page

Diversity of democrats poses test for Obama
After series of early victories on Capitol Hill, the White House faces a test with climate bill, which reveals ideological differences among majority.

Ruling may not derail nominee
Supreme Court's rejection of decision endorsed by Sotomayor is not expected to imperil nomination.

Business

Madoff sentenced to 150 years
The sentence far surpasses that of other recent high-profile white-collar crimes and took many noted criminal defence attorneys and former federal prosecutors by surprise.

State oversight of banks gets teeth
The Supreme Court rules that state attorneys general can go after national banks to protect consumers from potentially unfair lending practices or pursue cases of potential discrimination against minorities.

GLOBE AND MAIL, Canada

Front page

Airliner bound for Comoros crashes
An airliner with more than 150 people on board belonging to Yemeni state carrier Yemenia crashed into choppy seas as it came in to land on the Indian Ocean archipelago of Comoros on Tuesday, officials said.

The search for the mint's missing gold
The mystery of the mint's missing gold now looks less like an accounting glitch and more like the stuff of heist movies.

Business

The satellite surprise: Telus ties up with BCE
Telus Corp has flipped the switch on its new satellite television service in Western Canada, blanketing 90% of homes in BC and Alberta with the option of more than 500 digital channels.

Iceland's central bank chief has one tough job
Ben Bernanke thinks he has got problems? Meet Mar Gudmundsson, the new central bank governor of Iceland. As the world's credit markets froze last fall, the tiny country earned the dubious distinction of becoming the first victim of the global financial crisis.

BUENOS AIRES HERALD

Front page

Crisis Committee met to discuss H1N1 measures, three provinces suspend classes
President Cristina Fernández de Kirchner led the meeting of the Crisis Committee which did not announce a Sanitary Emergency situation in Argentina due to the H1N1 virus' advance.

'No further changes in the Cabinet are necessary'
President Cristina Fernández de Kirchner gave a press conference at Government House and played down the defeat suffered by government candidates in the midterm elections.

Health Minister resigns
Argentina Health Minster Graciela Ocaña has resigned and has already left her office at the Ministery after president Cristina Fernández de Kirchner accepted the minister's resignation.

By: Staff Reporter
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