In Thursday's Europe papers

20 September 2007 06:00  [Source: ICIS news]

LONDON (ICIS news)--These were the top stories at 06:00 GMT in the following European newspapers’ online versions on Thursday. ICIS has not verified these stories and does not vouch for their accuracy. To go to the individual websites, click the links below:

Financial Times
Front page

Equities rebound as central banks intervene
Stocks rallied around the world on Wednesday as central bankers and policymakers unveiled an unexpected range of measures aimed at preventing recent financial turmoil from spilling out to the wider economy.

US expert warns of fresh shocks
Fresh economic shocks on the scale of the current credit squeeze will occur if US house prices continue to fall, one of the country’s leading housing experts warned on Wednesday.

Companies and markets

Credit squeeze hits Morgan Stanley
Morgan Stanley on Wednesday reported a 7% fall in earnings in the third quarter after unexpectedly taking a relatively bigger hit from the credit market turmoil than rival Lehman Brothers.

Greek exchange facing FTSE demotion threat
The Greek stock exchange faces being demoted to emerging markets status within the next 18 months by FTSE Group, the global index provider, because of the restrictions the exchange places on international investors.

International Herald Tribune
Front page

An air travel activist is born
Like thousands of American Airlines passengers last 29 December, Kate Hanni and her family were stuck aboard a jet for hours, out on the runway. They were hungry, bored, mad and, in the case of Flight 1348, sick of the smell wafting through the cabin from the lavatories.

China and India leading Asian missile buildup
Two decades after developed nations agreed to halt the proliferation of trategic missile technology, China and India are leading the most significant modernization of nuclear-capable ballistic missile and cruise missile forces in Asia since the Cold War, according to arms control analysts.


EU tries to turn 'energy weapon' against Gazprom
After years of Russia's using energy as a political weapon, the European Union sought to turn the tables Wednesday with a proposal to prevent the state-owned Russian monopoly Gazprom from taking over power networks in Europe.

Bank of England, in about-face, injects cash into money markets
The Bank of England on Wednesday abruptly reversed its policy of refusing to ease lending standards, offering to inject cash into British money markets amid criticism that it had not done enough to stem a credit crunch that has undercut one of Europe's largest economies.

The Moscow Times
Front page

Business reluctant to voice concerns
However anxious they are to find out, the country's richest tycoons said Wednesday that they would not ask President Vladimir Putin who would be in the new Cabinet, nor would they quiz him about any structural shake-ups in the government.

From the catwalks to the trenches
With endemic hazing, corruption and inadequate housing, the military appears to be mired in difficulties.


Ruble soars to an 8-year high
The ruble soared 0.6% to an eight-year high against the dollar Wednesday amid heavy dollar selling. The currency strengthened to 25.2 against the dollar by Wednesday evening, a level at which it last traded in October 1999.

Russky Standart takes issue with downgrade
Russky Standart bank's landmark case against RusRating, an independent ratings agency, took a new turn Wednesday when the bank's lawyers made specific reference to the agency's decision to downgrade Russky Standart, and how it has altered perceptions of the bank.

Der Spiegel
Front page

Is Belgium headed for divorce court?
As far back as the days of the Roman Empire, Julius Caesar described the penchant of Belgians for quarrel. Generally, the small Gallic people are full of zest for life--slurping large quantities of oysters and champagne, and showing a distinct fondness for French fries and pralines.

In Cameroon, globalization's losers fight back and win
Bernard Njonga gingerly steers his Toyota Land Cruiser through the evening rush hour traffic in Yaoundé, the capital of the West African nation of Cameroon. The heat is oppressive and Njonga, who hasn't been able to figure out how the air-conditioning works yet, has his windows rolled down.

Turkish Daily
Front page

Ads glitter ... and disappoint
In a country where consumers have generally put up with below-par products accepting it as misfortune, a new trend is emerging and end-users are now taking to the courts when they are not satisfied with their purchase.

Rectors mobilizing against lifting of headscarf ban
University rectors have mobilized against the possibility of the new constitution allowing students with headscarves to enter university facilities, saying that they intend to take the matter to the European Court of Human Rights if necessary, reported the daily Hürriyet yesterday.

Business and finance

Government sees 2007 growth not far from expectations
Turkey's year-end growth will not be far from expectations, Deputy Prime Minister Nazım Ekren said on Tuesday, implying that it would be below a five percent target after it dipped to 3.9% in the second quarter.

Turkey's gold jewellery exports up 22.8%
A switch to new markets including Russia has helped boost Turkish gold jewellery exports, lifting them almost 23% in the first eight months of this year.

Warsaw Business Journal
Front page

Henrik Carlsen appointed CEO of Lotos subsidary
Henrik Carlsen, "Oil sector man of the year" in 2006, is biding farewell to Statoil and as of 1 October he will become the president of a Lotos subsidiary in Stavanger, which will search for oil in the Norwegian shelf.

Asseco and Prokom merger almost finalized
Reports which first appeared in daily Puls Biznesu regarding the merger of Asseco and Prokom Software were confirmed and negotiations have been virtually concluded.

By: Staff Reporter
+44 20 8652 3214

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