In Monday's Americas papers

21 January 2008 11:28  [Source: ICIS news]

THE WALL STREET JOURNAL

Front Page

Major indexes drop sharply on worries over US economy
Asian stock markets declined sharply Monday on concerns the US economy is sliding toward recession, with Japan's benchmark index dropping nearly 4% and Hong Kong plummeting 5.5%.

US warning signs point toward a deep recession
The US has suffered recessions only twice in the past quarter century and both were short and mild. There are good reasons to fear that the looming recession, if it arrives, could be worse.

Democrats turn attention to South Carolina contest
With the dogfight in Nevada behind them, Democratic candidates Hillary Clinton and Barack Obama prepared to battle it out in South Carolina while spreading their efforts to the nearly two dozen states that will hold primaries on 5 February.

Money & Investing

Springfield takes aim at Merrill over subprime losses
In November, officials in Springfield got a rude surprise. One of their main investments had plunged in value by more than 90%.

Stocks fall as worry remains
For stock investors Friday, Main Street's inability to pay its phone bills and Wall Street's scramble to guarantee its bond trades overshadowed Pennsylvania Avenue's economic stimulus plan to help everyone.

The world melts for gold
Gold-bug fever is spreading. From China to the Middle East, new ways to invest in gold are rapidly popping up in developing countries. It's transforming the market for one of mankind's most venerable ways to sock away wealth.

THE NEW YORK TIMES

Front Page

Giants stun Packers and head to the super bowl
Under a full moon, a black sky and a crisp and cruel blanket of cold, the Giants stood on the frozen sideline of Lambeau Field, waiting for a rush of warmth.

Pentagon weighs top Iraq General as chief of NATO
The Pentagon is considering General David Petraeus for the top Nato command later this year, a move that would give the general, the top American commander in Iraq, a high-level post during the next administration but that has raised concerns about the practice of rotating war commanders.

Business Day

From MySpace to YourSpace
Two years ago, Chris DeWolfe, the co-founder and chief executive of MySpace, was talking about international expansion with Rupert Murdoch, whose News Corporation bought the social networking site in 2005.

Getty images up for sale, could fetch $1.5bn
Getty Images, the world’s biggest supplier of pictures and video to media and advertising companies, has put itself on the auction block and could fetch more than $1.5bn, people briefed on the situation said on Sunday.

THE WASHINGTON POST

Front Page

Highly skilled and out of work
An unusually large share of workers have been out a job for more than six months even as overall unemployment has remained low, a little-noted weakness in the labour market that analysts said threatens to intensify the impact of the unfolding economic downturn.

Gaza gripped by cold and darkness after Israel blocks delivery of fuel
Gaza's only power plant ceased operating in the Gaza Strip on Sunday night, plunging much of the territory of 1.5m Palestinians into darkness and winter cold. Palestinian officials said a three-day-old Israeli blockade had exhausted the fuel needed to run the plant.

Business

Marriott's new diversity executive comes full circle
Back when she was a college student working as hotel gift-shop attendant, Jimmie Walton Paschall got some career-building advice from a mentor: Get a diverse set of experiences in the business. You'll see issues through multiple lenses and be able to address them from different perspectives.

One candidate and the economy
Now that there's no denying that the US economy is badly shaken, the presidential candidates are highlighting their ideas on how to fix things. If you are like me, you probably just roll your eyes when you hear their lofty plans that involve everything from tax cuts to special retirement accounts to proposals to pump up businesses.

GLOBE AND MAIL, Canada

Front Page

Vancouver shooting bears hallmark of gang hit
Two men were shot to death just outside a swank, high-end restaurant frequented by celebrities and Hollywood stars on Saturday night, ending a brief lull in the city's spate of gangland violence with a hail of gunfire.

Keep troops in Kandahar until 2011, Manley to recommend
John Manley's report on Canada's future role in Afghanistan will likely recommend that troops stay in Afghanistan until 2011 while also criticising the federal government agency responsible for delivering aid to the war-torn nation, CTV News reported last night.

Business

Alberta puts royalty relief on the table
The Alberta government is considered easing royalty increases in several major areas of the oil and natural gas business, responding to industry's anger over "unintended consequences" that have led to spending cuts of more than $1bn.

Asian markets sink amid pessimism about US stimulus plan
Stock markets across most of Asia fell Monday following declines on Wall Street last week amid investor pessimism over the US government's stimulus plan to prevent a recession.

BUENOS AIRES HERALD

Front Page

'Estadio 99' operation seizes a ton of cocaine
Argentina yesterday seized about one ton of cocaine - a record haul of the drug in the country - as it was on the way to being smuggled to Spain, and arrested some 20 people, several of them former members of the 1976-1983 military dictatorship, customs service director general Ricardo Echegaray told the Herald.

Clinton, Obama split Nevada, Romney wins
Democrats Hillary Rodham Clinton and Barack Obama split the spoils in the Nevada caucuses in a race marred by late charges of dirty politics. Republicans John McCain and Mike Huckabee looked to South Carolina’s nomination contest to offset rival Mitt Romney’s win in Nevada.

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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