In Wednesday's Americas papers

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

THE WALL STREET JOURNAL

Front page

GM plans to keep Opel and Vauxhall
GM is backing out of a deal to sell its European operations to Magna International and plans to restructure the business itself.

The sport that conquered Arabia
The UAE has been staging an elaborate audition as it tries to settle on a national sport. After last weekend's popular Abu Dhabi Grand Prix, the winner is Formula One.

Afghan policeman kills five UK soldiers
An Afghan policeman opened fire on British soldiers in the volatile southern province of Helmand, killing five, British and Afghan authorities said on Wednesday, raising concerns about discipline within the Afghan forces and possible infiltration by insurgents.

Money & Investing

Fears of new bubble as cash pours in
The World Bank and IMF are raising concerns that efforts by governments and central banks to stoke a recovery will create asset bubbles in real estate, stock and currency markets, especially in Asia.

Delphi to name directors
Delphi is creating a new board of directors in an overhaul orchestrated by GM and several of Delphi's former lenders.

Buffett bets big on railroad
Warren Buffett made the biggest bet of his career, agreeing to buy Burlington Northern in a $26.3bn deal that reflects his long-term optimism about the US economy.

THE NEW YORK TIMES

Front page

GM decides to keep Opel, its European unit
The decision was a blow to the Canadian auto supplier Magna, which was poised to acquire a 55% stake in Opel with the backing of the German government and labour unions.

Degas pastel is highlight of a tepid Christie’s sale
French and Italian could be heard throughout Christie’s salesroom on Tuesday night as the fall auction season began unsteadily: While there were some strong prices, there were also expensive failures.

Business Day

A Pentagon contract revives jobs at Oshkosh
Oshkosh’s off-road armored truck is proving to be worth billions of dollars for the company and a potential lifesaver for troops in Afghanistan.

In October, signs of life at retailers
Some analysts are now predicting higher levels of holiday spending this season than last.

WASHINGTON POST

Front page

Republican win ends Dems' hold on state
Republican Robert F McDonnell held onto an early lead in the race for Virginia governor; GOP also captures Lt governor and attorney general.

Health bills too timid on cutting costs, experts say
Democrats in Congress are embracing the spirit of President Obama's call to slow the runaway rise of health-care costs but are shying away from some of the most aggressive techniques for achieving that.

Business

Buffett places big bet with $34bn railway purchase
Berkshire Hathaway chairman and world's second-richest man Warren Buffett said on Tuesday that his $34bn purchase of Burlington Northern Santa Fe Railway is a bet on America's future.

Some experts worry that cost controls in health-care reform are too cautious
Democrats in Congress are embracing the spirit of President Obama's call to slow the runaway rise of health-care costs but are shying away from some of the most aggressive techniques for achieving that.

GLOBE AND MAIL, Canada

Front page

Five British soldiers shot dead by Afghan police officer
An Afghan police officer opened fire on British soldiers in the volatile southern province of Helmand, killing five, British and Afghan authorities said on Wednesday, raising concerns about discipline within the Afghan forces and possible infiltration by insurgents.

Canada's flu vaccine leftovers being sent overseas
Bulk shipments of the main component of the H1N1 vaccine made at a Quebec plant are being exported to other countries, as Canadians line up for hours for the scarce influenza shots.

Business

GM's board scuttles Magna's deal for Opel
Frank Stronach's vision of turning his Magna International Inc auto parts company into a full-fledged vehicle manufacturer has vanished after General Motors Co reversed an earlier decision to sell a majority stake in its battered European subsidiary.

Buffett's Burlington Northern railway deal an 'all-in wager' on the US economy
Warren Buffett's bold move to snap up Burlington Northern Santa Fe Corp, a railway with tracks running through his hometown of Omaha, shines a new light on an industry that he believes is poised to ride an economic rebound.

BUENOS AIRES HERALD

Front page

Republican wins Virginia in test of Obama's clout
Republican Bob McDonnell rolled to victory over a Democrat in the governor's race in Virginia in the first of three key votes that provided an early test of US President Barack Obama's clout.

Boudou and Vilma Martínez discuss 'bilateral relations'
Economy Minister Amado Boudou met with United States Ambassador Vilma Socorro Martínez, to whom he expressed the need to increase commercial exchanges and investments.

Reform will 'return prestige' to the political process, Randazzo
Interior Minister Florencio Randazzo spoke in Congress to explain the political reform bill during a hearing with the Constitutional Affairs Committee, along with the Budget and Housing Committee and the Judiciary Committee.

By: Staff Reporter
+44 20 8652 3214

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