In Friday's Europe papers

16 May 2008 06:00  [Source: ICIS news]

Japan shows surprise growth spurt
Japan’s economy had an unexpected growth spurt in the first three months of 2008, driven by exports to China and other emerging economies, providing the strongest quarter of shipments in four years.

China quake toll ‘could reach 50,000’
The death toll from Monday’s earthquake in China could reach as high as 50,000 people, the State Council said on Thursday, as rescue workers still struggled to reach some of the worst affected areas.

Icahn launches proxy battle against Yahoo
Carl Icahn, the billionaire investor, has unleashed a proxy fight to remove the Yahoo board and resurrect a takeover bid for the internet company by Microsoft.

Blackstone focuses on distressed property
Blackstone, which made big profits last year by flipping commercial properties at the height of the market, is considering buying back into some of those assets at distressed prices as part of an effort to cash in on the credit crisis.

In departure, China asks for outside help
With the death toll from this week's earthquake rising rapidly, China made a sharp departure from past diplomatic practice on Thursday, seeking disaster relief experts and heavy equipment needed for rescue operations from neighbors it has long shunned as rivals or renegades.

Italy cracks down on immigrants
Underscoring the new Italian government's determination to crack down on illegal immigration and crime, the authorities this week arrested hundreds of people in a massive sweep of shantytowns in major urban areas across the country.

For Wall Street workers, the ax falls quietly
People on Wall Street seem to be vanishing overnight. Thousands are losing their jobs as hard-pressed banks cut deep. But while layoffs are nothing new in the financial industry (they come with almost every downturn), this round seems different: it is eerily quiet.

Japan first-quarter GDP rises 3.3% from year earlier
The Japanese economy grew at a stronger-than-expected 3.3% annual pace in the first quarter, racking up its third consecutive quarter of growth.

Front page

Putin announces new mini-cabinet
Prime Minister Vladimir Putin on Thursday announced the creation of a new executive body that he said would inject efficiency into the unwieldy government machine.

Kudrin's influence poses a riddle
The elevation of new First Deputy Prime Minister Igor Shuvalov to oversee large swaths of economic policy has left political pundits scrambling to work out whether Finance Minister Alexei Kudrin will retain his longtime influence over the country’s fiscal policy.

(no news updates)

Welcome to the Burmese police state
The man in the brown uniform is friendly, yet very assertive. "The road leads to a restricted zone. We can't let you enter at the moment," he says, while he meticulously makes a note of our passport details and our hotels in a thick book.

German Chancellor meets with 'Sheikh Lula'
The first thing Brazilian President Luis Ignacio Lula da Silva asked for was a copy of the current issue of SPIEGEL. He said he wanted to chat with German Chancellor Angela Merkel about the interview he gave the magazine during their meeting at the government palace Palacio do Planalto in the capital city Brasilia.

Front page

'In' and 'out' list on closure circuit
In the topsy turvy world of Turkish politics, the closure case faced by the ruling Justice and Development Party (AKP) is likely to result in new faces replacing old ones no matter if the party is shut down or not.

Street kids' story worthy of a fairytale
A bunch of street kids turned into medal-winning athletes in a few years--the story of the Gaziantep Police field hockey team, which finished third at the Euro Hockey tournament in Slovenia last week, is like the "Oliver Twist" novel, only with a fairytale-like happy ending.

Turk Telekom to start trading today
Turkey's widening trade imbalance may translate into opportunity for investors as the country sells a chunk of the former telephone monopoly cheap to attract foreign capital and help pay rising bills for imported oil.

Federal Reserve to boost loans to banks as needed
US Federal Reserve Chairman Ben S. Bernanke said financial markets remain unsettled and the Fed will increase its auctions of cash to banks as needed.

Front page

Kaczynski meets US and Georgian Presidents in Israel
After a meeting with Georgian President Mikhail Saakashvili he called on NATO to give security guarantees to Georgia in its dispute with Russia, or risk undermining its credibility.

KP's has become the jewel in SAB Miller's crown
Kompania Piwowarska (KP) is emerging as one of the jewels in the crown of SABMiller, the London-listed international brewing giant. KP yesterday published its volume sales for the fiscal year which ended on 31 March.

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