In Wednesday's Americas papers
08 October 2008 12:00 [Source: ICIS news]
THE WALL STREET JOURNAL
Front page
McCain, Obama spar over economic fix
McCain called for a $300bn program to aide homeowners, while Obama argued for a middle-class tax cut and health-care reform. Each blamed the other's policies for the crisis.
Housing pain gauge: nearly 1 in 6 owners 'under water'
The relentless slide in home prices has left nearly one in six US homeowners owing more on a mortgage than the home is worth, raising the possibility of a rise in defaults the very misfortune that touched off the credit crisis last year.
Abandoned homes used to shelter troops often prove deadly in Iraq
It was just after 10pm when a sergeant started yelling in the darkness. "There's a bomb in the building!"
Money & Investing
Fed to lend directly to corporations subscriber content
The Fed said it will bypass ailing banks and lend directly to US corporations for the first time since the Great Depression, while hinting strongly at further rate cuts.
Citi seeks allies in fight for Wachovia subscriber content
Citigroup is reaching out to potential partners as it tries to gain the upper hand in the fight for Wachovia.
BofA offering fails to lure investors subscriber content
Bank of America's shares declined 26% as the company struggled to find buyers for a $10bn stock offering.
THE NEW YORK TIMES
Front page
US inquiry is said to conclude 30 civilians died in Afghan raid
A military investigation concluded that recent American airstrikes in western Afghanistan killed more civilians than previously acknowledged.
Facing a financial crisis, European nations put self-interest first
As the financial storm spread, some of the 27 nations that make up the European Union have broken ranks to protect their own citizens and banks.
Business Day
Tokyo shares lose 9.4% as Europe slides in early trading
Another wave of relentless selling washed over global markets, with European and Asian stocks plunging. The Tokyo market had its worst decline since 1987.
Britain announces bank bailout worth hundreds of billions
As European leaders continued to clash over measures to ease the financial crisis, Britain announced a multibillion-dollar bailout for its banks.
WASHINGTON POST
Front page
Obama, McCain focus on pocketbook issues
While debate questions ran the gamut of issues, the focus for Sens. John McCain and Barack Obama was the financial crisis and who has a better plan for the future.
New crisis. old ideas
Rather than talking about sacrifices Americans may need to make, the candidates tried to outdo each other in committing to cut taxes for most households.
Business
Retirement savings sees loss of $2 trillion
Stock market's tumble during the past 15 months could force workers to stay on job longer and rein in spending, budget analyst says.
Memo to new agency heads: listen to staff
Top executive at Office of Management and Budget produces how-to volumes for those who will run government agencies, including political appointees, civil servants.
GLOBE AND MAIL, Canada
Front page
Can Harper turn it around?
Conservative Leader Stephen Harper pledged $400m for the hard-hit aerospace and auto sectors yesterday as he unveiled a relatively modest campaign platform that tried to dispel the impression he has done little to respond to fresh economic turmoil.
RCMP sought out 'critiques' of Insite, group says
The RCMP commissioned “critiques” of Vancouver's controversial supervised injection site in an effort to counteract positive research findings about the facility, says a Vancouver legal advocacy group.
Business
Britain bolsters banks
Britain has become the latest country forced into a humbling bank bailout as the global financial contagion continues to resist unprecedented emergency triage.
Japan's stock index plunges on crisis fears
Japan's Nikkei stock index has plummeted 9.4% to close at a five-year low on deepening fears over the global financial crisis.
BUENOS AIRES HERALD
Front page
Peso slumps to 5-year low
Central Bank President Martín Redrado yesterday said Argentina’s long-term policy of regulating foreign exchange, its fiscal and trade surplus, and historically high foreign reserves are key to weathering the current global economic turbulence.
Obama, McCain battle over taxes, economy
Republican John McCain and Democrat Barack Obama battled over taxes at their second presidential debate last night but agreed middle-class workers are fearful about their economic future and need quick and lasting help.
Telpuk: Customs asked me not to check bags
María Luján Telpuk, the former airport security officer who sprang to fame after discovering 800,000 dollars stashed in a suitcase brought into Argentina by US-Venezuelan citizen Guido Antonini Wilson in August 2004, yesterday told a Miami court that Jorge Lamastra, a Customs agent, had asked her not to check the passengers’ baggage on Antonini Wilson’s flight.
ICIS Copyright © Reed Business Information 2009
Author: Staff Reporter+44 20 8652 3214
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