In Wednesday's Europe papers

16 May 2007 07:00 [Source: ICIS news]

LONDON (ICIS news)--These were the top stories at 07:00 GMT in the following European newspapers’ online versions on Wednesday. To go to the individual websites, click the links below:

Financial Times

Front page

Moscow agrees to tone down anti-US rhetoric

Russia is to tone down its increasingly harsh anti-US rhetoric but the two countries failed in talks to make any progress on the issues that divide them – including Kosovo and missile defence.

Russian oil chief faces charges

Russian investigators have charged Mikhail Gutseriyev, the head of privately-owned mid-size oil company RussNeft, with large scale illegal activity, the interior ministry said.

Companies and markets

Cerberus can tap $17bn for Chrysler task

Cerberus will be able to draw on $17bn (€12.5bn) as it battles to turn round Chrysler, the US carmaker it bought for $7.4bn, after raising the biggest financing package yet for a private equity deal.

Dubai group builds stake in Deu

Deutsche Bank has become the latest western financial institution to attract interest from a Middle Eastern investor after Dubai’s International Financial Centre built a large stake in the German bank.

International Herald Tribune

Front page

In other Afghan war, drugs are winning

It is a measure of Afghanistan's virulent opium trade, which has helped revive the Taliban while corroding the credibility of the government, that US officials now hope that Afghanistan's drug problem will someday be only as bad as that of Colombia.

Bush intervened in dispute over domestic spying program

A former official said the US president stepped in when the attorney general and others threatened to resign.

Marketplace

Atos Origin shares plummet after talks end on possible sale of company

The stock of the French computer services provider at one point Monday showed its biggest one-day drop in almost 10 months.

Ford family said to consider partial sale of ailing automaker

Ford, the second-largest US automaker, lost a record $12.6bn (€9.2bn) last year, and the shares have plunged 74% since 1999. The family owns 71m Class B shares, extending the power it has held since Henry Ford founded the company in 1903.

The Moscow Times

Front page

Putin and Rice agree to cool rhetoric

President Vladimir Putin and US Secretary of State Condoleezza Rice agreed on Tuesday to soften the increasingly aggressive rhetoric between Moscow and Washington.

Moscow offers to help Myanmar go nuclear

The Federal Atomic Energy Agency said Tuesday that it would build a nuclear reactor in Myanmar, casting aside widespread Western criticism of the country's ruling military regime.

Business

Russneft president charged, police say

Mikhail Gutseriyev, the president of fast-growing oil company Russneft, has been charged with "illegal entrepreneurship" over exceeding production quotas, the Interior Ministry said Tuesday.

Trutnev sees TNK-BP losing Kovykta

TNK-BP is still at risk of losing its license to operate the huge Kovykta gas field despite winning the right to a court hearing, the natural resources minister said Tuesday.

Der Spiegel

Front page

Daimler's $27.5bn lesson

The merger with Chrysler was a pricey experiment for Daimler - to the tune of some $27.5bn (€20.2bn) - and now the German carmaker will have to fight for market leadership.

Cue the tear gas and rubber bullets

The storm of protest against the G-8 summit in Germany next month amounts to a scripted ritual. Leftists need to ask themselves whether violence is a legitimate form of resistance, and if so, how much is acceptable.

Turkish Daily

Front page

Turkish manufacturers give Ikea a run for their money

Owners of the 350 stores in the Modoko furniture manufacturer’s complex located on Istanbul’s Anatolian side joined forces to invest in a factory that produces and sells their products together under one Modoko brand

Deconstructing Pamuk

In the span of five days two Orhan Pamuk symposiums are held in Istanbul, recognizing him in his true right as a novelist.

Business and finance

Anadolu Group, Ülker join hands for Petkim

The largest producer in the petrochemical sector in Turkey is on the block. Preparing to win the bid, Anadolu Endüstri Holding and Polinas Plastik and Yıldız Holding are forming a consortium

Wall Street to focus this week on consumer inflation

Wall Street has been revelling in the interest rate standstill of the past nine months, and investors hope this week's data on consumer inflation and the housing market won't suggest things are about.

Warsaw Business Journal

Front page

Poland isolated and alone in opposition to EU Constitution

"They showed us just how isolated we are," said a Polish diplomat following a closed meeting yesterday in Berlin of envoys from the EU's 27 states to iron out the differences over the EU Constitution

Patients support nationwide doctors warning strike

Doctors in around 250 hospitals yesterday went on strike as their protest over pay moved inexorably towards a general strike scheduled for Monday

Business

Boom time for private healthcare is set to continue

Some 30% of the public used the services of private healthcare providers over the past twelve months, spending an average zl.298 ($107/€78), or zl.25 per month, according to a new survey conducted for PZU Zycie by SMG/KRC.

Mularczyk to face Attorney Council in Kraków

Law and Justice (PiS) Arkadiusz Mularczyk could face disciplinary procedures before the Attorney Council in Kraków, after informing the Constitutional Tribunal on Thursday morning that two of its members were registered as information sources in secret service documents.

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