In Wednesday's Americas papers

01 July 2009 11:30  [Source: ICIS news]

THE WALL STREET JOURNAL

Front page

National Express loses key franchise
National Express will give up its London-Edinburgh rail franchise, a decision branded "unacceptable" by Secretary of State for Transport Andrew Adonis. The company also said its CEO will step down.

Iran's hard line fuels Iraq attacks
Some of the Iraqi Shiite extremist groups that the US claims are backed by Iran say they are ratcheting up attacks in Iraq in tandem with Tehran's post-election crackdown on protesters.

Ousted Honduran president wins UN backing
Thousands of Hondurans protested in support of Sunday's military coup against their president, even as he won United Nations backing for his reinstatement and planned a Thursday showdown in which he would return to Honduras in the company of other Latin American leaders.

Money & Investing

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.

Wall Street cut lobbying at key time
The financial industry cut its spending on lobbying and campaign contributions this year, even as the Obama administration drafted its sweeping plan to tighten federal control over its players.

Wal-Mart backs insurance 'Mandate'
In a major break with most other large companies, Wal-Mart told the White House that it supports requiring employers to provide health insurance to workers.

THE NEW YORK TIMES

Front page

Losing Honduras, Zelaya wins outside support
The Organisation of American States worked on Wednesday towards a diplomatic effort to restore former President Manuel Zelaya to office.

As Iran seeks to quash foes, Ahmadinejad cancels Africa trip
As the Iranian government sought to close the book on weeks of protest that presented the strongest challenge to its authority in 30 years, an opposition candidate in the disputed 12 June voting again insisted he would not accept the outcome and challenged the legitimacy of President Mahmoud Ahmadinejad’s re-election.

Business Day

Many with insurance still bankrupted by health crises
Health insurance is supposed to offer protection - both medically and financially. But as it turns out, an estimated three-quarters of people who are pushed into personal bankruptcy by medical problems actually had insurance when they got sick or were injured.

Retired from GM at 54. Pensionless at 74?
General Motors is using its huge pension fund in a way it never intended. It had planned - and put money aside - for a steady march of retirees over time.

WASHINGTON POST

Front page

After call from Senator’s office, small Hawaii bank got US aid
Sen Daniel K Inouye’s staff contacted federal regulators last fall to ask about the bailout application of an ailing Hawaii bank that he had helped to establish and where he has invested the bulk of his personal wealth.

Term saw High Court move to the right
For the Supreme Court, it was the year of living on the verge. On the verge of declaring the key provision of the Voting Rights Act unconstitutional, but then stepping back.

Money & Investing

Hints of stability break long string of losses
Wall Street closes its first positive quarter in more than a year and a half, capping a massive rally built on hopes for an economic stabilisation that has yet to materialise. Investors have largely left behind the fears of a severe global recession that sent stocks to their lowest level in 12 years in March.

Obama eyes consumer watchdog
White House sends a detailed proposal to Congress for creating an agency to oversee nearly all facets of consumer lending, but the breadth of its powers is setting the stage for a fierce clash on Capitol Hill.

GLOBE AND MAIL, Canada

Front page

Iraq presents US with a paradox
Good news in Iraq never comes undiluted. And so, while its people celebrated Tuesday’s landmark withdrawal of US armed forces from the country’s towns and cities, a car bomb detonated in Kirkuk, killing at least 27 people.

Nunavut grads mark a milestone
History will be made in a crowded school gym in Iqaluit on Wednesday when 21 women become the first students to earn a graduate degree in the country’s youngest territory.

Business

GM push for buyback could halt Magna’s Opel bid
The Magna International Inc bid to transform itself into an auto maker could founder if General Motors Corp insists on being able to buy back Adam Opel GmbH once the Canadian auto parts giant has restructured the European arm of GM.

Canada to match US climate change rules
Canada will adopt climate-change regulations comparable to those of the United States – including new rules for oil sands producers and refiners – to avoid punitive "green" tariffs, Environment Minister Jim Prentice says.

BUENOS AIRES HERALD

Front page

16 provinces suspend classes, winter holidays extended in Buenos Aires province and City
As part of the measures to combat the outbreak of H1N1 influenza, 16 provinces in Argentina have suspended classes including Buenos Aires province and City: Santiago del Estero, Entre Ríos, Corrientes, Santa Fe, Santa Cruz, Neuquén, Misiones, Córdoba, Catamarca, San Luis, Río Negro, Chaco, Mendoza, La Pampa and Tierra del Fuego.

Moyano: ‘We are aiming at reactivating Peronism’
The head of the CGT Labour Confederation Hugo Moyano supported the appointment of Buenos Aires Governor Daniel Scioli as chairman of the ruling Peronist party the day after ex-president Néstor Kirchner announced his resignation.

Kirchnerism is finished, says Chubut governor
The Governor of the province of Chubut, Mario Das Neves said ‘Kirchnerism’ is finished after ex-president Néstor Kirchner was defeated by a narrow margin in Sunday's mid-term elections, after holding a meeting with Buenos Aires Governor Daniel Scioli to discuss the next steps of the Peronist Party.

By: Staff Reporter
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