In Fridays' Europe papers

21 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 Friday. 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

China to impose HK investment quota
China is to impose a quota on investments on the Hong Kong stock market--which will reduce capital outflows to a fraction of the $100bn (€71bn)-plus forecast when its outward investment scheme was announced last month.

Dollar slumps to 15-year low
The dollar plunged, government bond yields soared and the price of oil hit a record high on Thursday amid growing concern that interest rate cuts by the Federal Reserve could stoke inflation.

Companies and markets

Goldman beats tough market
Goldman Sachs on Thursday demonstrated its skill at navigating turbulent capital markets, reporting a 79% surge in third quarter net income even as rival Bear Stearns recorded a 61% profit plunge in the wake of the summer’s credit squeeze.

Wall Street lowers as dollar plunges
Wall Street suffered a sluggish day after two consecutive days of gains as the US dollar hit a record low against the euro and amid a mixed set of brokerage results.

International Herald Tribune
Front page

Value of dollar falls to new low against the euro
Investors dumped dollars Thursday, sending the euro to a record high and putting the American currency at par with the Canadian dollar for the first time in more than 30 years.

China and the Vatican avoid a standoff over new bishop
The selection of the Reverend Joseph Li Shan, who is to be installed as the Roman Catholic bishop of Beijing on Friday, was no surprise to those who closely follow religious affairs in China. Li, 42, who rose steadily through a Chinese Catholic clergy that was far reduced by the Cultural Revolution and was slowly rebuilt as the Chinese government relaxed its attitudes toward officially recognized organized religions, has been in the wings for some time.

Marketplace

New blow to dollar amid US growth fears
The world dumped the dollar on Thursday, pushing the greenback to an all-time low of $1.40 (€1) against the euro and to parity with the Canadian dollar for the first time in three decades as currency traders around the world digested the full implications of the US Federal Reserve's new course for interest rates.

Dubai bourse buys stake in Nasdaq and London exchange
While American and European companies have been shelving acquisitions after jitters in the credit market dried up potential financing, oil-producing countries in the Middle East showed Thursday that they do not share the same limitations.

The Moscow Times
Front page

Zubkov lays into outgoing cabinet
Prime Minister Viktor Zubkov stamped a headmasterly authority on his first Cabinet meeting Thursday, harshly dressing down a minister for missing a Kremlin deadline and warning the others against slackness.

Beyond opposition, beyond a chance
An overgrown garden in the university town of Cambridge is an unlikely place to hear a Russian presidential candidate speak, but Vladimir Bukovsky is anything but an ordinary candidate

Business

Turkmen leader makes his western debut
Turkmen President Gurbanguly Berdymukhammedov heads to New York on Saturday to court Western political and economic interests in the latest sign that the country is breaking with its isolationist past and opening up for business.

RusAl pulls plans for IPO this year
Aluminum giant RusAl has pulled its plans for an IPO this year, sources close to the deal said, Vedomosti reported.

Der Spiegel
Front page

Travel guide to a war zone
At first glance, it looks just like the dozens of other Lonely Planet titles. Each chapter begins with the highlights of the region being presented. There are suggestions for those looking for "Roads Less Travelled."

Boom times for Babelsberg
It's hard to imagine screen siren Marlene Dietrich ever being just another blonde standing at a bus stop. But when she first strode across the lot of Babelsberg Studios in Potsdam some 80 years ago, there was little separating her from other young, unknown actresses hungry for a big break.

Turkish Daily
Front page

Ramadan in NYC
Many Muslim organizations in the US regularly state their concerns that the Bush administration's continuous usage of the word "Islamic terrorism" increases prejudice against them in this country.

Turkey cancels Turkcell 3G licence
Turkey canceled an auction for high-speed mobile-phone licenses because it wasn't competitive after only Turkcell submitted a bid. The country's telecommunications regulator agreed Tuesday to cancel the 7 September auction and will make an announcement today, an official at the Ankara-based regulator said by phone, reported Bloomberg.

Business and finance

French police open probe into Sarkozy flat deal
French police have opened a preliminary inquiry into the purchase of a flat by President Nicolas Sarkozy, who has previously denied buying the apartment at a large discount, a police source said Tuesday.

London promises 50,000 more low-cost homes
Fifty thousand more affordable homes will be built in London in the next three years in a bid to ease the capital's chronic housing shortage, Mayor Ken Livingstone has announced.

Warsaw Business Journal
Front page

Digital terrestrial TV deal shuns commercial broadcasters
TVP, Polish Radio and Polkomtel yesterday signed a letter of intent to develop Poland's first digital terrestrial TV.

KGHM to become energy player via PAK acquisition?
The management board of copper conglomerate KGHM will today decide whether to make a fresh bid for the 46% stake in the PAK energy group currently held by Elektrim.


By: Staff Reporter
+44 20 8652 3214



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