In Monday's Europe papers

16 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 Monday. To go to the individual websites, click the links below:

Financial Times

Front page

UK and Russia head for diplomatic stand-off
Britain and Russia are on Monday braced for a major diplomatic stand-off, as London formally responds to Moscow’s refusal to extradite Andrei Lugovoi, wanted by UK authorities for the murder of former KGB agent Alexander Litvinenko.

RBS team to outline revised bid for ABN
The Royal Bank of Scotland-led consortium, which is embroiled in a fierce battle with Barclays for control of ABN Amro, is set to outline a revised bid as early as Monday in which it will increase the proportion of cash by up to €7.9bn ($10.8bn).

Companies and markets

Banks rush to lend to buyout executives
Private banks are rushing into a surprising new market: lending to high-flying private equity executives who are strapped for cash to invest in their own funds.

AP Holding expects Alitalia clarification
AP Holding, the last surviving potential buyer of Alitalia, expects answers as early as today to critical questions it sent to the Italian government that could lead to the submission of a formal bid or trigger the collapse of the sale process.

International Herald Tribune

Front page

UN confirms North Korea has shut its nuclear reactor
UN inspectors have verified that North Korea has shut down its sole functioning nuclear reactor, the chief of the watchdog agency said Monday, confirming Pyongyang's first step to halt production of atomic weapons in nearly five years.

New US allies seen as enemies by Iraqi troops
Abu Azzam says the 2,300 men in his movement include members of fierce Sunni groups like the 1920s Revolutionary Brigade and the Mujahedeen Army that have fought the American occupation. Now his men patrol alongside the Americans, who want to turn them into a security force that can bring peace to this stretch between Baghdad and Falluja.


GE and Abbott Labs call off $8bn deal
General Electric and Abbott Laboratories have canceled GE's proposed purchase of Abbott's diagnostics units for $8.13bn (€5.8bn) because they could not agree on terms.

For sale in Chicago: Huge room, no windows
The last time the Chicago Mercantile Exchange moved, its former trading floor was taken over by a gym full of sweaty executives. Now beer bellies may supplant pork bellies once again.

The Moscow Times

Front page

President pulls out of key treaty
In a decision that threatens to raise tensions with the West, President Vladimir Putin declared over the weekend that Russia would suspend cooperation on a key European arms control treaty signed in the closing years of the Cold War.

Brazil case raises the stakes for Berezovsky
Brazil has issued an arrest warrant for Boris Berezovsky on suspicion of money laundering at Sao Paulo football club Corinthians, a step that raises the stakes in the billionaire's standoff with the Kremlin.


Total to get reserves under Shtokman deal
Total signed a long-awaited 25-year deal Friday to develop the giant Shtokman gas field with Gazprom that will allow it to book part of the Arctic field's lucrative reserves, to supply gas to Europe and North America when it comes on line within the next decade.

Khristenko, Rakhimov clash over bashkir oil
Industry and Energy Minister Viktor Khristenko publicly clashed with the president of Bashkortostan on Friday over $6bn (€4.32bn) worth of local oil assets that Moscow wants to bring directly under its control.

Der Spiegel

Front page

Sarkozy wrestles with Merkel for European dominance
French President Nicolas Sarkozy is challenging German Chancellor Angela Merkel for leadership of Europe. But she's hoping to slow down France's new hyperactive leader to ensure German influence on the continent, while avoiding an open confrontation between Paris and Berlin.

German writer to read 'satanic verses' in Cologne Mosque
German writer Günter Wallraff wants to stir things up in his hometown of Cologne. He is proposing reading the 'Satanic Verses' in a controversial new mosque. The religious foundation building the mosque says it'll think about it.

Turkish Daily

Front page

Sezer conveys concerns to Köhler over immigration policy
President Ahmet Necdet Sezer sent a letter to German President Horst Koehler, expressing Turkey's concerns over the new immigration law passed by the German Cabinet, the Turkish Foreign Ministry confirmed in a written statement late Thursday.

Politics easy theoretically but hard in practice
Republican People's Party (CHP) candidate Professor Necla Arat, one of the three figures who organized the pro-secular demonstrations that took place all over Turkey in April, is busy with her campaigns these days.

Business and finance

Minister promises airport to Mersin
Kürşat Tüzmen, State Minister for Foreign trade said the process of determining the location of the airport continues. The airport is expected to be built on sea, by using a revolutionary Japanese technique which involves compacting trash and filling the sea with it to serve as a base for the airport.

Court allows ABN Amro to sell LaSalle bank
ABN Amro's sale of its US arm LaSalle to Bank of America was lawful, the Dutch Supreme Court ruled Friday. The decision overturned a lower court's move blocking the sale, and now the $21bn (€15bn) sale is virtually certain to succeed.

Warsaw Business Journal

Front page

CBA used trained spy in Agriculture Ministry provocation
Dziennik in its Friday issue wrote that Andrzej K, one of the people arrested in corruption scandal in the Agriculture Ministry, might have cooperated with the Central Anti-corruption Bureau (CBA).

Business critical of 2008 budget projections
Four employers’ organisations which are a part of the trilateral commission have announced their stance concerning the foundations of the 2008 budget bill.


JC Auto and Inter Cars sign merger agreement
JC Auto and Inter Cars, the two leading domestic automotive parts distributors, signed an agreement on Friday concerning a merger.

Petrolinvest goes public today; more share issues likely
Petrolinvest, an oil venture that is controlled by Ryszard Krauze, will debut on the Warsaw Stock Exchange (WSE) today.

($1 = €0.73)

By: Staff Reporter
+44 20 8652 3214

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