In Thursday's Americas papers

THE WALL STREET JOURNAL

Pay Czar to slash compensation at seven firms
The US pay czar will cut in half the average compensation for 175 employees at firms receiving large sums of government aid, with the vast majority of salaries coming in under $500,000, according to people familiar with the government’s plans.

Galleon sinks, informant surfaces
Galleon will close, collapsing amid an insider-trading case that investigators say had its roots in a 2005 job search by a California hedge-fund manager facing a financial squeeze.

Euro zone posts current account deficit in August
The euro zone’s current account swung back into a deficit in August, as the economy’s export-led recovery paused for breath after a strong run over the late spring and early summer.

A Saudi family feud roils world banks
When Ma’an al Sanea married into one of Saudi Arabia’s richest families some 30 years ago, he raised eyebrows among his in-laws by rolling up to the traditional wedding tent in a Rolls Royce.

Banks weigh on European shares
European stocks slumped on Thursday, following sharp falls in the US and unable to take comfort from strong Credit Suisse results.

Search-ad shift seeks more for less
Marketers are rebooting their strategy for buying Internet search ads, seeking more bang for their buck as they work with limited ad budgets.

A rope and a prayer
I stood in the bathroom of the Taliban compound and waited for my colleague to appear in the courtyard so we could make our escape.

China’s economy expands 8.9%
As much of the world continues to claw its way out of recession, China enjoyed another stretch of robust expansion in the third quarter, growing 8.9% from the previous year, according to government figures released on Thursday.

US to order steep pay cuts at firms that got most aid
The seven companies that received the biggest bailouts are expected to cut the salaries of their 25 best-paid executives by an average of about 90% from last year.

Financial woes plagued Galleon informant
Roomy Khan, the central witness who brought down the Galleon hedge fund, is a former Galleon employee with a history of financial trouble who agreed to cooperate with prosecutors after she was caught making trades using inside information.

Despite H1N1 fears, many worry about vaccination
Americans have become increasingly alarmed about the swine flu, but many are wary about inoculation.

US pressures Japan on military package
Worried about a new direction in Japan’s foreign policy, the Obama administration warned the Tokyo government on Wednesday of serious consequences if it reneges on a military realignment plan formulated to deal with a rising China.

White House to order executive pay cuts
Cuts mean the 25 most highly paid executives at bailed-out firms will see their total compensation for 2009 reduced by an average of 50%.

Rattner defends automaker rescue
The US government’s stake in General Motors is currently worth about $25bn, or about half the amount the government poured into the ailing automaker, former autos task force chief Steven Rattner says.

Stimulus programme favours Tory ridings
A high-profile Harper government stimulus fund that builds hockey rinks and other voter-friendly infrastructure projects has funnelled about 38% more cash, on average, to Conservative ridings than to those held by the opposition in the election battleground province of Ontario.

Edmonton hostage-taker surrenders
A despondent man with a beef against the Workers’ Compensation Board kept Edmonton police locked in an armed standoff for nearly 10 hours on Wednesday as authorities negotiated the release of eight hostages in the board’s downtown office building.

Weak recovery tempers optimism
It’s a recovery, yes, but an achingly slow and fragile one. On the both sides of the border, officials are warning that while the economy is inching out of recession, it has yet to gain any serious traction.

Harvest Energy accepts Korean offer
Integrated oil and gas company Harvest Energy Trust has agreed to a proposed takeover by state-owned Korea National Oil Corp in a deal valued at $4.1bn.

CFK leads rally in support of the Media Law
President Cristina Fernández de Kirchner announced that she has signed the decree to create the Authority of Application for the Media Law, which replaces the COMFER, and that the Argentine Radio and Television Government Corporation is now in effect.

Senate approves electronic tax bill
The Upper House of Congress approved and passed back to the Lower House a draft bill to increase the value added tax on imported electronic goods.

DAIA leader Schindel says ‘today in Argentina, nothing is surprising’
The DAIA organisation leader, Ángel Schindel, said that the espionage case should be fully investigated when consulted about the possibility of the entity entering judicial claims about the case.