In Monday's Americas papers
24 November 2008 11:00 [Source: ICIS news]
THE WALL STREET JOURNAL
Front page
Obama weighs stimulus plan
Obama and Bush are rushing to craft measures to bolster financial markets and prevent a policy vacuum during the transition.
Starling stalkers drive birds out of Rome
Rome's starling population has become a menace.
Builders make plea for federal aid
Home builders are lobbying Congress for a $250 billion stimulus package, arguing that financial markets won't recover until home prices stop falling.
Money & Investing
US set to rescue struggling Citigroup
The US agreed to take unprecedented steps to stabilise Citigroup by moving to guarantee $306bn in troubled assets weighing on its books, marking a new phase in government efforts to prop up US banks and securities firms.
Anatomy of Morgan Stanley panic
A September trading assault on Morgan Stanley stemmed from a cascade of bearish bets against the firm by some of Wall Street's biggest names.
UBS clients seek US amnesty
Wealthy clients of Swiss bank UBS are coming forward to make amends with tax authorities, in a sign that US efforts to battle offshore tax evasion and dent Switzerland's bank secrecy are having the desired effect.
THE NEW YORK TIMES
Front page
US approves plan to help Citigroup weather losses
Regulators approved a radical plan to stabilise the bank in an arrangement in which the government could soak up billions of dollars in losses.
Thai protesters surround parliament
Anti-government demonstrators in Thailand staged what they said was a final push to unseat the government.
Business Day
Awaiting reaction to third try at bailout
The question, as a new week begins, is whether this plan will produce lasting effects not only for Citigroup but also for the broader stock market.
For luxury brands, less money to spend on ads and spectacles
The drop-off in advertising spending by luxury brands means more bad news for magazines and newspapers in the United States.
WASHINGTON POST
Front page
US offers Citigroup sweeping safety net
The government is to provide multi-billion dollar backstop aimed at restoring confidence in a bank deeply intertwined with the financial system.
Democrats to push stimulus plan
President-elect and others to press $700bn spending package that could be the largest since the New Deal.
Business
Fed has opaque role in financial crisis aid
Largely outside the public view, the Federal Reserve is lending billions to a wide range of institutions but refuses to name the banks and other companies accessing the cash.
US plans Citigroup rescue
The goal would be to give investors and lenders faith in Citigroup's ability to continue operating.
GLOBE AND MAIL, Canada
Front page
Recession here, PM ready to open wallet
Canada is slipping into recession and an "unprecedented" fiscal stimulus is being considered, Prime Minister Stephen Harper warned on Sunday as he admitted he is both worried and surprised by the depth of the global financial crisis.
No injuries after fire forces plane to crash-land
From down below, the natives of Gods Lake Narrows in Northern Manitoba saw it as a "fireball" erupting in the inky night sky.
Business
Washington unveils plan to rescue Citigroup
The US government unveiled a bold plan late Sunday to rescue troubled Citigroup, including taking a $20bn stake in the firm as well as guaranteeing hundreds of billions of dollars in risky assets.
Britain tosses a lifeline to consumers
Britain's Labour government will shift its attention from fixing the banks to propping up consumers on Monday with the expected announcement of a massive economic stimulus package dominated by a cut in the value-added tax.
BUENOS AIRES HERALD
Front page
APEC leaders say global crisis can be won in 18 months
Pacific rim nations assured the world yesterday that the global financial crisis can be quelled in 18 months, but provided few details of how they expect that to happen - or how their governments can help.
Calderon in Buenos Aires
The Mexican president arrives to foment business, tackle crime.
The day JFK was shot
Joe Goldman recalls his fifth grade in the Bronx.
ICIS Copyright © Reed Business Information 2009
Author: Staff Reporter+44 20 8652 3214
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