In Tuesday's Americas papers

18 November 2008 11:00  [Source: ICIS news]

THE WALL STREET JOURNAL

Front Page

Yang to step down as Yahoo CEO
Yahoo co-founder Jerry Yang will step down after a replacement is found, following a tumultuous and short tenure.

Democrats press for aid to Detroit
Reid pledged to press ahead with legislation to aid Detroit's automakers, but prospects for passage before a new Congress arrives next year remained dim.

Nonbelievers organize their nonreligion
Nonbelievers have begun a very public campaign to win broad acceptance in mainstream America.

Money & Investing

Insurers buy banks in bid for aid
US life insurers are seeking a slice of bailout funds by buying up tiny banks in a move aimed at converting to S&L holding companies.

SEC calls foul on Cuban, alleges insider trades
The SEC filed insider-trading charges against Mark Cuban, saying he dumped his stake in an Internet company upon learning of a share offering.

Obama aides say economy needs big lift
Lawrence Summers and Robert Rubin called for substantial fiscal stimulus, signalling a potential willingness in the incoming administration to act aggressively to boost the economy.

THE NEW YORK TIMES

Front Page

Clout has plunged for automakers and union, too
The Detroit automakers and the United Automobile Workers face criticism as they push for a bailout.

Congo violence also endangers gorillas
With the recent violence in eastern Congo, trained rangers like Jean-Marie Serundori are unable to protect the mountain gorillas in the region.

Business Day

A British lesson on auto bailouts
In a classic example of a futile government intervention, British Leyland went through billions in taxpayer money before going out of business.

Mark Cuban is charged with insider trading
The Securities and Exchange Commission filed a civil suit charging the Internet entrepreneur with insider trading for selling shares of an Internet search company in 2004.

WASHINGTON POST

Front Page

Administration moves to protect key appointees
Political appointees are shifted to career civil service posts as the Bush administration tries to maintain its regulatory initiatives.

The evolution of Hank Paulson
Treasury secretary is leaving a legacy of federal interventionism few would have expected.

Business

Citigroup to cut jobs by 15 percent
Company plans to sell number of subsidiaries, including a massive operation in India, and will terminate thousands of employees in financial centres of New York and London.

Detroit rescue stuck in political impasse
Some lawmakers in both parties have expressed skepticism about a federal bailout for the Big Three, saying they are willing to take the chance of letting an automaker fail.

GLOBE AND MAIL, Canada

Front Page

Harper pushes united front in economic battle
The newly elected Conservative government will push potentially divisive issues to the back of the legislative agenda when Parliament opens today and will focus instead on finding common ground to fix the faltering economy.

From a scene of devastation, an 'amazing' tale of survival
When military search-and-rescue specialists arrived at the site of a Pacific Coastal Airlines plane that crashed on the weekend they found such a field of total devastation they couldn't see how anyone survived.

Business

Books, travel and now Canali from Harry
Just a few years ago, Harry Rosen Inc. found that consumers weren't ready to buy its luxury men's wear online. They worried about using credit cards on the Internet, and didn't like to purchase clothes without trying them on first.

Yang to step down as Yahoo CEO
Yahoo Inc chief executive officer Jerry Yang will step down as the head of the company he co-founded 14 years ago as soon as the embattled former dot-com darling can find a replacement, the company said Monday.

BUENOS AIRES HERALD

Front Page

Japan sinks into recession
Japan unexpectedly sank into recession in the third quarter, even before it felt the full force of the financial crisis, putting more pressure on world leaders to deliver on a promised global economic rescue plan.

Algeria trip lands deals
Argentina’s president signed deals on civilian nuclear energy with her Algerian counterpart during a visit to Algeria. Cristina Fernandez says she and President Abdelaziz Bouteflika agreed to "broaden our relations and reinforce our cooperation".

Unions want triple severance
Less than a week after downplaying fears of massive layoffs and saying that trade unions would not demand double severance pay, Hugo Moyano – head of the General Labour Confederation (CGT) – yesterday admitted to the existence of recession in the economy and said the organisation is working on a bill that seeks up to triple severance.

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
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