29 Jul 2008

Morning Report: overseas papers

4:30 pm on 29 July 2008

Retirement delays feared after superannuation funds in Australia recorded $A60 billion in losses in 12 months - it was their worst year since the early 1990s; Indian PM vows bombers will not succeed.

The United States:

The New York Times says US banks struggling to recover from multi billion dollar losses are sharply reducing funds available for business loans.

The paper says this action is depriving even healthy firms of money for expansion and hiring.

Also on the front page: details of how foreign governments are subsidizing energy prices as fuel prices have soared over the last year.

The Washington Post reports criticism of Justice Department officials who are routinely broke the law by conducting political 'litmus tests' on candidates for jobs as judges and prosecutors.


The Australian says tens of thousands of citizens could be forced to delay retirement after super funds suffered their worst year since the early 1990s.

The Courier Mail leads with the same story and says tumbling share prices have hit workers hard with superannuation funds recording $A60 billion in losses in 12 months.

The Sydney Morning Herald says MPs on both sides are outraged after Kevin Rudd suggested an 18 month pay freeze for all politicians - and Brendan Nelson agreed.

The Age has more on the Qantas mid air emergency last week: it says a valve from an oxygen cylinder blew a hole at least 20cm in diameter in the floor of the passenger cabin of the 747 aircraft.


The Times has a significant development on the current turbulence inside the Anglican Church: the paper says the church will halt gay bishop consecrations and same-sex blessings as part of a new pastoral forum to be set up.


The Times of India follows up to this week's deadly bomb blasts, with Prime Minister Manmohan Singh vowing that such attempts to destroy social fabric will not succeed. The bombs left 49 people dead.