In Thursday's Americas papers

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

THE WALL STREET JOURNAL

Front page

OECD forecasts stronger recovery
The global economic recovery will be stronger than previously expected, but it will take years to bring unemployment and government debt back to their pre-crisis levels, the OECD said.

JP Morgan to buy out joint venture
JP Morgan Chase said it and Cazenove have agreed to a transaction under which their joint venture, JP Morgan Cazenove, will become a wholly owned part of JP Morgan.

Danone sours on consumer outlook
Shares in France’s Danone fell on Thursday after the world’s largest yogurt maker cut its revenue objectives for the next three years, citing a long lasting change in consumer behaviour following the economic downturn.

Money & Investing

New link in insider-trading case
A defendant accused of exchanging a case of cash for inside information has ties to Galleon Group’s former No 2 executive – the first link between a top executive at the hedge fund and smaller-time players.

Blackstone to acquire Birds Eye
Birds Eye Foods, the largest frozen-vegetable company in the US, is expected to be acquired for more than $1.3bn by Blackstone’s Pinnacle Brands.

Sony sees normal profit by 2012
Struggling Sony expects to be back at traditional profitability levels by the end of the fiscal year through March 2013, as it implements a wide-ranging restructuring plan.

THE NEW YORK TIMES

Front page

Karzai sworn in for second term as Afghan president
In his inaugural address, President Hamid Karzai said Thursday that the Afghan Army should assume full control of the country’s security within five years.

Obama takes stern tone on North Korea and Iran
President Obama said the two nations risked further isolation if they did not rein in their nuclear ambitions.

Business Day

Luxury stores trim inventory and discounts
High-end stores are trying to stamp out discount fever by stocking fewer items and selling them at full price.

Post-mortems reveal obvious risk at banks
At bank after bank, the coroners of the financial crisis are discovering that regulators knew lenders were engaging in hazardous practices but failed to act.

WASHINGTON POST

Front page

Senate unveils health-care bill
Senate Majority Leader Harry M Reid presented an $848bn health-care overhaul package on Wednesday that would extend coverage to 31m Americans and reform insurance practices while adding an array of tax increases, including a rise in payroll taxes for high earners.

Holder answers to 9/11 relatives about trials in US
After enduring four hours of hostile questions in a crowded Capitol Hill hearing room about his decision to send the self-described mastermind of the 11 September terrorist strikes to Manhattan for trial, Attorney General Eric H Holder Jr. submitted himself to one more round of interrogation on Wednesday.

Business

Housing starts take unexpected tumble, fall 10.6%
New home construction took an unexpected tumble last month, reflecting the bumpy nature of a tentative housing recovery.

Bailout programme could be extended
The Obama administration is poised to extend the life of the highly unpopular $700bn financial bailout and, to display a commitment to fiscal responsibility, is planning to use much of the leftover funds to reduce the national debt, government sources said.

GLOBE AND MAIL, Canada

Front page

Meet the Olympic ticket king
The suitcases of cash and tickets he lugged around for shadowy Olympic accomplices in Bulgaria and Poland are long gone.

Canada complicit in torture of innocent Afghans, diplomat says
In a damning indictment of how Canada handled prisoners early in its southern Afghan mission, a government whistleblower says all captives that Canadian soldiers transferred to local authorities ended up being tortured – even though many were likely innocent.

Business

Wary Manulife back for billions
Manulife Financial Corp CEO Donald Guloien has done what he described three months ago as "the last thing we want to do".

Canadians are socking cash away in TFSAs
Since being introduced by Jim Flaherty, the Tax-Free Savings Account has quickly become a popular way to save money.

BUENOS AIRES HERALD

Front page

Senate suspends ‘Bolt Law’, Executive to administer debt-swap
The Upper House of Congress has approved by a vast majority the initiative to suspend, temporarily, the applicability of the so-called "Bolt Law".

Political reform bill one step closer to becoming law
After more than four hours of debate, the Lower House of Congress approved the political reform bill with 133 votes in favour, nine against, and four abstentions, and sent it off to the Senate.

Palacios proclaims innocence
Ex-chief of Met Police Jorge "Fino" Palacios said that he has nothing to do with the illegal phone tapping known as the espionage case, during preliminary questioning held by Federal Judge Norberto Oyarbide.

 

By: Staff Reporter
+44 20 8652 3214

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