In Tuesday's Americas papers

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

THE WALL STREET JOURNAL

Front page

Brian Sack engineers big moves at Fed
The Federal Reserve pumped $1 trillion into the financial system during harried efforts to rescue the economy. Brian Sack’s job is to figure out how to get the $1 trillion back out.

The aerial hunt for poultry manure
Livestock and poultry operators, which generate about 500m tons of manure each year, are facing pressure to clean up their litter.

Pensions for executives soar
Pensions rose an average of 19% in 2008 for top executives, with more than 200 seeing increases of more than 50%, according to a Wall Street Journal analysis.

Money & Investing

RBS, Lloyds diverge on aid
RBS and Lloyds unveiled agreements with the UK Treasury over their participation in a government programme to insure their bad assets and detailed the divestments they will need to make to satisfy EU competition concerns.

Stanley, Black & Decker in deal
Stanley Works and Black & Decker agreed to an all-stock merger valued at $4.5bn.

UBS swings to loss on charges
The Swiss bank swung to a net loss on three big charges and cautioned that heavy withdrawals from wealthy clients will persist in coming months following a dismal performance from its private bank.

THE NEW YORK TIMES

Front page

Karzai is vague on confronting corruption in Afghanistan
President Hamid Karzai, in his first speech since he was declared the winner of a much-disputed election, pledged to address corruption but made no specific commitments.

Iran’s politics stand in the way of a nuclear deal
The equivocating by Iran may be as much a product of a political crisis as it is a negotiating tactic, experts said.

Business Day

Lloyds and RBS announce major shuffle
Lloyds said it would carry out a large equity sale to keep the government from taking a majority stake, while RBS said it would sell assets in order to accept aid.

UBS claims improvement despite loss
Switzerland’s biggest bank, reported a fourth consecutive loss for the quarter on Tuesday because of a charge for its own debt but said business was improving.

WASHINGTON POST

Front page

British plan breakup of big bailed-out banks
Move to downsize some of nation’s largest banks comes as US politicians debate whether American banks should also be required to shrink.

Split over abortion puts bill at risk
House leaders are negotiating with bloc of Democrats who are concerned about provisions in legislation.

Business

Ford Motor reports $1bn profit for third quarter
The only major American automaker to avert bankruptcy and spurn a government bailout signals its growing strength, posting profits and lifting hopes that the US industry can recover.

Black & Decker to merge with Stanley
Struggling amid a sales slump resulting from a dramatic slowdown in construction, company announces plans to merge with rival Stanley Works in a $4.5bn deal joining two of America’s best-known tool manufacturers.

GLOBE AND MAIL, Canada

Front page

No business like flu business
While thousands of Canadians line up for H1N1 vaccinations and people around the world worry about the spread of the virus, the pandemic is proving to be a financial windfall for many big corporations.

Trace explosives found on Tamils’ ship, clothing, affidavits say
Canadian officials allege trace amounts of explosives were found in a cargo ship that carried 76 Tamil migrants to Canada’s West Coast last month, defence attorneys for migrants say.

Business

CanWest-Goldman battle erupts
US investment bank tells court that media company’s move to dissolve barriers around specialty channel joint venture is ‘abusive’.

US slump batters auto making in Canada
Manufacturers on track to produce fewer vehicles in Canada than they sell for the first time since 1964.

BUENOS AIRES HERALD

Front page

Aníbal Fernandez meets with city officials to discuss Met Police
Security Minister for the City of Buenos Aires, Guillermo Montenegro, said that the conflict regarding unpaid security services within the Federal Police force has been resolved, and added that a payment plan has been decided upon after having met with Cabinet Chief Aníbal Fernandez.

Retiree programme to ‘stimulate economy and tourism,’ CFK
President Cristina Fernández de Kirchner presented a new tourism programme for retirees and said that “the increase in resources within the National Administration for Social Security (ANSES) is related to improving the quality of life for retirees.”

Caceres’ condition ‘critical,’ Scioli says police ‘won’t hesitate to shoot criminals if necessary’
The debate rages over the security problem in the Buenos Aires province, after former Argentine international soccer player Fernando Cáceres was shot when thugs tried to steal his car.

By: Staff Reporter
+44 20 8652 3214

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