In Thursday's Europe papers

12 July 2007 07:00  [Source: ICIS news]

LONDON (ICIS news)--These were the top stories at 06:00 GMT in the following European newspapers’ online versions on Thursday. To go to the individual websites, click the links below:

 

Financial Times

Front page

 

Nasdaq blocks LSE proposal

US stock exchange Nasdaq, which holds a 30% stake in the London Stock Exchange, on Wednesday blocked a proposal at LSE’s annual meeting that would have allowed the London bourse to issue roughly enough new shares to buy Borsa Italiana, as it proposed to do last month.

 

Investors’ flight from risk picks up pace

Investors in European and US credit markets accelerated their flight from risk as the turmoil from the US mortgage markets continued to spill nto other asset classes.

 

Companies and markets

 

Vneshtorgbank considers selling EADS stake

VTB, Russia’s second largest bank, is considering selling its stake of just over 5% in EADS, Europe’s leading aerospace and defense group and the parent company of Airbus, less than 12 months after accumulating the shares.

 

Dividends--the accidental asset class

Dividends have graduated to high finance. Investors no longer regard dividends simply as income from shares, but are making them the cornerstone of myriad cutting-edge trading strategies.

 

International Herald Tribune

Front page

 

China's 'soft power' winning allies in Asia

It looks like a pleasant place to conduct affairs of state, a broad, palm-fringed compound by the side of the sea with reflecting pools, a rock garden and fluttering flags.

 

After mosque battle, Musharraf's troubles persist

The battle for the Red Mosque ended Wednesday after two full days of fighting between Pakistani special forces and Islamist militants holed up in its basement bunkers, leaving at least 60 dead, the military said, and the death toll was almost certain to rise.

 

Marketplace

 

Brazilians invest despite rigging suspicions

Traders hardly need to depend on insider information for profit in Brazil, where the slowest inflation since 1999, record-low interest rates and rising corporate earnings helped the benchmark Bovespa stock index climb 189% in dollar terms over the past two years.

 

S&P could cut ratings on mortgage-backed bonds

If S&P reduces the credit ratings on $12bn (€8.6bn) of bonds backed by subprime mortgages, it could force investors to dump the securities and exacerbate losses at hedge funds and securities firms.

 

The Moscow Times

Front page

 

Britain ponders next step in stand-off

Russia and Britain appeared to be on a diplomatic collision course Wednesday after they traded accusations over the extradition case of former security services officer Andrei Lugovoi.

 

Foreign adoptions get the go ahead

Russia is reopening its doors to foreign adoptions, months after they all but ground to a halt due to bureaucratic barriers.

 

Business

 

Lufthansa switching to Domodedovo

Lufthansa will switch its Moscow flights from Sheremetyevo to Domodedovo Airport from next summer in an effort to provide better links with other Star Alliance members, the airline announced Wednesday.

 

Putin puts off gas hike

President Vladimir Putin personally approved a Gazprom proposal to delay raising the tax on gas extraction by writing “I agree” on a letter from the company, Vedomosti reported Wednesday.

 

Der Spiegel

Front page

 

Gaza's new rulers seek to win over the west

Having gained control of the Gaza Strip, Hamas is now trying to polish its image. Seen by many as Islamist terrorists, the group wants to win over the West with law and order.

 

Vienna confronts holocaust history

A new exhibition at Vienna's Jewish Museum presents the world's largest collection of Jewish Holocaust-related documents. The documents are invaluable to Holocaust historians and survivors--and may lead to a new surge in restitution and compensation claims.

 

Turkish Daily

Front page

 

Turkish economy needs a soft landing

Kemal Derviş, head of the UNDP and Turkey’s former economics minister, is happy to see the positive development of the Turkish economy. But he offers a dire warning: Global liquidity is not meant to last forever, and Turkey needs a national strategy in case the fault line cracks

 

Is this the final act in state-run theaters?

Turkey witnessed the biggest protest ever experienced in state theaters two years ago when state-run theaters general director Lemi Bilgin was relieved from duty on 15 August 2005 and Mine Acar was appointed to replace him by the Minister of Culture and Tourism, Atilla Koç.

 

Business and finance

 

Türk Telekom launches new projects to expand coverage

Türk Telekom is planning to develop its infrastructure by investing $3.4bn (€2.4bn) over the next four years. By replacing copper wires with fiber optic wires, Türk Telekom is going to increase its accessibility capacity by 1,000 times.

 

China's monthly trade surplus hits new high in June despite concerns about exports'

China's politically volatile trade surplus soared to a new monthly high in June, the government said Tuesday, showing that demand for Chinese goods remains strong despite concerns about their safety.

 

Warsaw Business Journal

Fronpage

 

"CBA provocation" backfires against the PM

After it was revealed by the media that the corruption affair which led to the dismissal of Agriculture Minister Andrzej Lepper was from start to finish run by the officers of the Central Anti-Corruption Bureau (CBA), opposition parties have demanded the resignation of Prime Minister Jarosław Kaczyński and the head of the CBA Mariusz Kamiński.

 

New agriculture, sports ministers for Warsaw

Andrzej Aumiller will replace Andrzej Lepper as the Agriculture Minister while Elżbieta Jakubiak will take the post of the Sports Minister, after Tomasz Lipiec resigned.

 

Business

 

Financial and construction troubles for Polfa Tarchomin

Pharmaceuticals producer Polfa Tarchomin, which is part of Polish Pharmaceutical Holding (PHF), is in financial difficulties.

 

No EU support for Belka's IMF bid

Despite the Polish government finally deciding to support Marek Belka as a candidate for general director of the International Monetary Fund (IMF), his candidature did not receive sufficient support in Europe.


By: Staff Reporter
+44 20 8652 3214



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