In Friday's Americas papers

03 July 2009 11:30  [Source: ICIS news]

THE WALL STREET JOURNAL

Front page

Madoff kickbacks alleged in Austria
US, UK and Austrian prosecutors are investigating Sonja Kohn, pictured, former chairwoman of Bank Medici, who they say was paid more than $40m to funnel investments to Madoff.

Merkel seeks end to cycle of crises
Germany's Merkel will urge G-8 leaders to break the cycle of bubbles and crises by tempering economic growth and taming financial markets when good times return.

Taliban slip away from surge battle
A US offensive in southern Afghanistan faced little resistance from Taliban militants, but one Marine was killed in combat.

Money & Investing

Derivatives revamp puts bankers on edge
The European Commission is expected to propose a revamp for Europe's derivatives industry that bankers fear could take a harder line than recent US efforts.

European stocks lose ground
European stocks were marginally lower, with investors wary of putting money back into play given concerns over the pace of a potential economic recovery amid thin trading conditions.

Judge in Pang case rules for SEC
A federal judge ordered the appointment of a permanent receiver over Danny Pang's companies and ruled that a continued freeze of his assets is justified.

THE NEW YORK TIMES

Front page

UN chief to seek release of Suu Kyi
The United Nations secretary general, Ban Ki-moon, arrived in Myanmar on Friday for a journey he has said will be difficult as he seeks the release of the jailed pro-democracy leader Daw Aung San Suu Kyi, or at least a meeting with her.

CEOs use Obama visit to press Russia on rule of law
US businessmen are expected to use a Russia-US business summit on Tuesday to press Moscow to rein in corruption and improve conditions for western companies operating in the country.

Business Day

No new updates

WASHINGTON POST

Front page

Federal 'organic' label's integrity under fire
USDA shortcomings mean consumers are not always getting foods without pesticides, produced in a way that is gentle on the environment.

McCain, Feingold team up again
Senators try to force filling of open seats on FEC amid partisan standoff, campaign finance debate.

Business

Job losses dampen hopes for economic recovery
Employers reduced their payrolls by 467,000 jobs in June, far more than expected, and the unemployment rate rose to 9.5%, rattling hopes that the US economy is stabilising and on track to grow later this year.

As owner struggles, mall languishes
Empty shelves and vacant storefronts at Landmark Mall in Va, one of a growing list of shopping centers across the US bearing the brunt of the recession, are signs of an ailing mall.

GLOBE AND MAIL, Canada

Front page

A stroke patient's long road from healed to healer
Janel Nadeau was lazily watching TV with a friend on a warm summer's night when she got up to go to the bathroom. As soon as the 19-year-old old stood, she collapsed to the ground.

Globe and Mail management, union agree on tentative deal
The Globe and Mail and the union that represents 480 of its employees reached an agreement on a new contract late on Thursday night, just minutes before a midnight strike deadline.

Business

US unemployment rates signal bumpy 'stabilisation phase'
With unemployment in the US and Europe climbing to new heights, European Central Bank president Jean-Claude Trichet chose that phrase, rather than the language of recovery that many economists have been using, to explain why the ECB left its benchmark lending rate at a record low.

California rolls out the IOUs
Five years ago, when he took the stage at the Republican National Convention in New York, Arnold Schwarzenegger took a moment to chastise the pessimists who dared question America's financial hegemony.

BUENOS AIRES HERALD

Front page

Health Minister Juan Manzur confirms 44 H1N1 deaths, new measures may be implemented
Health Minister Juan Manzur spoke today about the H1N1 virus and its consequences. He also addressed measures taken and the number of affected persons.

Aníbal Fernández says he offered CFK his resignation and admitted 'we did something wrong'
The Justice Minister Aníbal Fernández today revealed he had offered his resignation to President Cristina Fernández de Kirchner after the defeat in last Sunday's midterm elections.

Defiant North Korea fires fourth short-range missile
North Korea test-fired a fourth short-range missile, South Korea's Yonhap news agency said citing officials in Seoul.

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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