In Thursday's Europe papers

17 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 Thursday. To go to the individual websites, click the links below:

 

Financial Times

Front page

 

Wolfowitz working on resignation deal

Paul Wolfowitz began discussing possible terms for his resignation as president of the World Bank.

 

Amazon to start selling digital music

Amazon moved to shake up the online music business on Wednesday by setting up a direct rival to Apple’s iTunes that will sell tracks without copyright ­protection.

 

Companies and markets

 

Shareholders threaten Arcelor-Mittal

Minority shareholders in Arcelor are threatening legal action against Arcelor-Mittal over the terms published for buying out the 6% shares not tendered when Mittal Steel tabled its €26.9bn ($36.5bn) offer last year.

 

Permira takes top stake in Valentino

Permira became the largest shareholder in Valentino in the latest sign of ownership upheaval in the Italian fashion sector.

 

International Herald Tribune

Front page

 

Wolfowitz said to push for deal to quit

Paul Wolfowitz began to negotiate the terms under which he would resign as the World Bank's president, in return for the dropping or softening of the charge that he had engaged in misconduct. Bank officials said they were increasingly hopeful that a solution was in sight, ending what had become a bitter ordeal.

 

Trains make historic border crossing between Koreas

The first train border crossing in more than half a century is the latest symbol of historic reconciliation between the long-time foes.

 

Marketplace

 

Private equity group buys stake in Valentino

Permira Advisors bought nearly 30% of the luxury brand from members of the Marzotto family, making it the largest investor in Valentino, which also controls Hugo Boss.

 

Bausch & Lomb to be sold to Warburg for $3.67bn (€2.71bn)

The move comes after the eye-products maker was rocked when its contact lens solution was recalled.

 

The Moscow Times

Front page

 

It's not over when the gravel drops

The Constitutional Court ruled Wednesday that cases against convicted criminals can be reopened and their sentences made more severe if new evidence comes to light.

              

Summit takes back seat to a prize

The European Union’s top diplomat may skip a Russia-EU summit for the first time to accept an award that has previously been bestowed upon Winston Churchill, Bill Clinton and the euro.

 

Business

 

Comstar CEO resigns after losses

Comstar CEO Eric Franke stepped down on Wednesday amid speculation that the country's largest alternative phone operator was in for an overhaul after recently reporting a disappointing quarterly loss.

 

Yukos tax going to housing, research

The State Duma on Wednesday passed in a first reading a bill that would allow the government to pump billions of dollars from the sale of Yukos assets into housing and high-tech research.

 

Der Spiegel

Front page

 

What Sarkozy means for Europe

France and Germany have long been the motor of the European Union. But new French President Nicolas Sarkozy has called that dynamic into doubt. He may be more interested in French protectionism than European cooperation.

 

Krauts on the Côte d'Azur

The Cannes Film Festival has promised an ambitious round of stars and films for its 60th anniversary. Even Germans might be in evidence this year.

 

Turkish Daily

Front page

 

Merrill Lynch chief resigns to run for the AKP

Mehmet Şimşek, the chief of Merrill Lynch’s Middle East and Africa Economic/Strategic Research Department, has resigned and applied to run for the governing Justice and Development Party in the upcoming elections.

 

World media sees secularists vs. Islamists in Turkey

Sharing experiences both as journalists and scholars, two of the speakers at the International Press Institute (IPI) World Congress and 56th General Assembly talked to the Turkish Daily News.

 

Business and finance

 

US motor fuel prices break post-Katrina record high

US motor fuel prices have hit an all-time record, breaking highs set in 2005 following devastation from Hurricane Katrina, the American Automobile Association said Monday.

 

Turkish central bank leaves rates on hold

Turkey's central bank left key interest rates unchanged on Monday, in line with market expectations, and said it was necessary to maintain a tight monetary policy to meet its medium-term inflation.

 

Warsaw Business Journal

Front page

 

Kompania Weglowa to list on Warsaw bourse?

The economy ministry is planning to float Kompania Weglowa (KW), the largest coal company in Europe, on the Warsaw bourse.

 

Patients support nationwide doctors warning strike

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

 

Business

 

Suspect donations made to Kwasniewski's foundation?

Almost zl.1m ($0.35m/€0.26m) was transferred to Amicus Europae, a foundation of former president Aleksander Kwasniewski, from Wiktor Pinczuk - oligarch and son-in-law of former president of Ukraine Leonid Kuczma.

 

Business and personal loans move toward record levels

The National Bank of Poland released data yesterday which shows that the portfolio of bank loans to private individuals in April this year rose 39.7%, in comparison to the same period a year ago.

By: Staff Reporter
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