In Monday's Americas papers

02 November 2009 11:30  [Source: ICIS news]

THE WALL STREET JOURNAL

Front page

UK reforms need to slow, bankers urge
Some of the UK’s leading bankers have urged the FSA to slow its efforts to overhaul markets, warning that too much regulation would suffocate banks.

Italian mob boss is arrested
Police arrested one of Italy’s most wanted mob bosses, dealing a blow to one of the most powerful criminal clans in the region around Naples.

Alfa wants to realign assets
Last month, Russia’s Alfa Group ended five years of bitter legal battles with Norway’s Telenor ASA with a deal to merge their telecom holdings in Russia and Ukraine.

Money & Investing

US turns screws on GMAC
Since getting rescued by the government, GMAC has wrangled with the FDIC over its turnaround plans, and is locked in debate with regulators about its capital levels.

Goldman looks to buy Fannie tax credits
Goldman is in talks to buy millions of dollars of tax credits from government-controlled mortgage giant Fannie Mae.

Jittery companies stash cash
Companies are holding more cash – and a greater percentage of assets in cash – than at any time in the past 40 years.

THE NEW YORK TIMES

Front page

With Karzai, US faces weak partner in time of war
After Abdullah Abdullah’s withdrawal from the Afghan runoff, President Obama faces the challenge of enabling President Hamid Karzai to regain enough legitimacy to help the US with the war.

Explosion targets military in Pakistan
An explosion on Monday morning in a busy commercial district in Rawalpindi apparently targeted military personnel and killed at least 30, officials said.

Business Day

Britain sets tough laws for texting while driving
Britain has become one of the more aggressive countries in attacking the use of mobile phones while driving.

A new Chinese stock exchange opens with a surge
Investors went on a buying spree the first day of trading of the Growth Enterprise Market, sending the shares of some companies soaring as much as 210%.

WASHINGTON POST

Front page

Climate-change bill’s prospects cool in Senate
Democrats are deeply divided on issue and unless some GOP lawmakers risk backlash for signing on to legislation, it has almost no hope for passage.

Report targets key lawmakers
Newly released document reveals far more robust probe of House Democrats than previously known.

Business

From collectible coins niche to $5m mini-empire
Jeffery Morin’s memorabilia business probably isn’t the next Google or eBay, but the 27-year-old’s online enterprise now encompasses five companies that will generate millions this year, with 16 employees on payroll.

Long, hard road for Vanda drug
Early next year, it’s almost certain an antipsychotic known as Fanapt will reach pharmacies. Rockville-based Vanda Pharmaceuticals toiled for years on its development, even after larger drugmakers lost interest and the FDA gave it a thumbs-down.

GLOBE AND MAIL, Canada

Front page

Private-clinic patients jump the line for flu shot
Patients at private medical clinics in at least two provinces have jumped the queue for H1N1 vaccine during a nationwide shortage of the flu shot, rekindling a debate about the perils of two-tier health care in Canada.

Tremblay re-elected Montreal mayor
Incumbent Montreal Mayor Gérald Tremblay edged out a victory on Sunday night, avoiding defeat at the hands of former Parti Québécois cabinet minister and longtime separatist Louise Harel in a closely fought race after a dramatic campaign dominated by allegations of widespread corruption at city hall.

Business

CIT files for bankruptcy protection
Lender CIT Group has filed for Chapter 11 bankruptcy protection, in an effort to restructure its debt while trying to keep loans flowing to the thousands of mid-sized and small businesses.

Chrysler’s revival to lean heavily on Fiat
Dismal sales numbers, crumbling market share and an outdated lineup are staring Fiat SpA and Chrysler Group LLC chief executive officer Sergio Marchionne in the face as he prepares to unveil a sweeping reorganisation for the company Fiat saved from the scrap heap five months ago.

BUENOS AIRES HERALD

Front page

CIT Group files for bankruptcy, affects economy and US government
CIT Group Inc, a lender to hundreds of thousands of small and medium-sized businesses, filed for bankruptcy as the global economic crisis left the company unable to finance itself.

Investing in economy and ‘generating employment’ are US priorities, Geithner
United States Secretary of the Treasury Tim Geithner said that the budget deficit in the country is "too high," but said that the main priority at the time is to invest in the economy and create employment.

The security issue in Buenos Aires City is ‘worsening’, Ibarra
Lawmaker Aníbal Ibarra spoke about the removal of members of the Federal Police force from different areas of Buenos Aires City due to the failure to pay them for overtime.

By: Staff Reporter
+44 20 8652 3214

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