In Thursday's Americas papers
18 September 2008 12:00 [Source: ICIS news]
THE WALL STREET JOURNAL
Front page
Crisis in new phase: Fed steps up action
The financial crisis that began 13 months ago entered a new, far more serious phase as hopes that the damage could be contained have evaporated. Central banks took coordinated action to boost liquidity.
Fears shake world markets subscriber content
Fear coursed through the US financial system, as hope for a resolution to the year-old credit crisis faded.
Money & Investing
Central banks take coordinated action
The world’s major central banks banded together to flood global money markets with dollars, in hopes of taming one major source of the tensions rocking the financial system.
Bets, cash crunch hurt
A look at how the wave that engulfed Wall Street this weekend felled one of the country’s largest insurance companies.
THE NEW YORK TIMES
Front page
Stocks slump as investors run to safety
The financial crisis entered a potentially dangerous new phase as investors worldwide frantically moved their money into the safest investments, like Treasury bills.
As fears grow, Wall Street titans see shares fall
Morgan Stanley and Goldman Sachs were considered to be in a separate class from weaker banks like Bear Stearns and Lehman Brothers that saw themselves evaporate.
Business day
European markets are up, but Asian slide continues
European stocks opened slightly higher, after another slide in Asia, as sentiment was helped by a massive central bank fund injection and a major deal in Britain.
A new role for the Fed: investor of last resort
The mighty Federal Reserve is being stretched to its limits, both in the range of problems it is being asked to fix and in its financial firepower.
WASHINGTON POST
Front page
China widens milk probe as cases mount
As a third infant dies and 6,200 are sickened, nation’s investigation into contaminated baby formula broadens to include other dairy products.
Federal bailout action fails to buoy confidence
Investors rush to government securities to protect savings and banks lose faith in each other as flow of money through financial system all but stops.
Business
Wall Street turmoil
Washington Post columnist Steven Pearlstein will be online to discuss this week’s financial meltdown.
GM: batteries for volt might be imported
Chief executive offers no guarantee that American-made batteries will be used in the auto giant’s new electric-powered car, even as automakers press for government loans to support the development of advanced-technology vehicles.
GLOBE AND MAIL, Canada
Front Page
Harper says he’d protect Quebec’s on-air identity
Stephen Harper has offered a symbolic carrot to Quebec cultural nationalists, promising to enshrine the francophone representation on the body that regulates Canada’s airwaves.
Action by central banks calms investor nerves
The cost of borrowing dollars short-term fell on Thursday and European stocks turned higher, halting a global equity selloff, after leading central banks unveiled concerted action to ease acute money market stress.
Business
Days of wine and Porsches over
John Mack, aka Mack the Knife, gave vent on Wednesday to the frustration and anger that comes when $120m of your savings vanish in the space of a few hours.
Crisis envelops another Wall Street icon
Another Wall Street icon, Morgan Stanley, was fighting for survival on Wednesday night as panicked investors sent global markets into a sickening nosedive.
BUENOS AIRES HERALD
Front Page
Bears maul Wall Street despite bailout
Investors scrambled for ultra low-risk investments like cash and gold yesterday as growing fear of financial risk sparked a global rout in stocks, which was marked by a plunge in the shares of Wall Street titans Morgan Stanley and Goldman Sachs.
Tzipi Livni wins Kadima vote to succeed Olmert
Foreign Minister Tzipi Livni won a clear victory in the Kadima Party’s primary election yesterday, TV exit polls showed, placing her in a good position to become Israel’s first female leader in 34 years and sending a message that peace talks with the Palestinians will proceed.
ICIS Copyright © Reed Business Information 2009
Author: Staff Reporter+44 20 8652 3214
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