In Thursday's Europe papers

21 August 2008 06:00  [Source: ICIS news]

FINANCIAL TIMES

Front page

BAA slams ‘flawed’ watchdog report
BAA, the embattled owner of Heathrow, was on Wednesday facing the threat of a forced sale of three of its British airports next year after a damning report by competition authorities attacked its dominance of the industry.

Lehman’s secret talks to sell 50% stake stall
Lehman Brothers, the beleaguered US investment bank, held secret talks to sell up to 50% of its shares to South Korean or Chinese parties in the first week of August but failed to reach agreement with either.

Companies and markets

Fannie and Freddie crisis deepens
The US Treasury on Wednesday backed away from assurances that it would not have to rescue Fannie Mae and Freddie Mac, as the crisis surrounding the mortgage groups deepened with their shares falling for a third day.

Overview: Oil reversal helps equities rebound
A sharp turnaround in the oil price helped trigger a rebound for US and European equities and helped push the dollar back towards a recent six-month high against the euro on Wednesday.

INTERNATIONAL HERALD TRIBUNE

Front page

With Russia rising, Poland looks west
The bustling streets of Warsaw, increasingly filled with gleaming new automobiles and lined with Western boutique stores, seem a world away from Tbilisi, where jittery residents this month faced the once-inconceivable threat of Russian tanks advancing down Rustaveli Avenue in the center of Georgia's capital.

Russian wins gold in women's 20-km walk
Olga Kaniskina of Russia has won the women's 20-kilometer race walk gold medal in a dominating start-to-finish performance in wet conditions at the Beijing Olympics.

Marketplace

U.K. proposes breaking up airport holdings of BAA
In an attempt to improve notoriously overcrowded British airports, government regulators on Wednesday proposed breaking apart BAA, the privatised company that has a near monopoly on the business. It would be the biggest overhaul of the country's airport industry in decades.

Housing crisis separates the haves from the have-nots in Sydney
This is a tale of two cities. There’s the beachfront Sydney, washed by white foamy waves, dotted by cafés and high-class restaurants and multimillion-dollar homes and apartments - its boomtown Sydney.

THE MOSCOW TIMES

Front page

Petition pleads for Khodorkovsky parole
Amid heavy drizzle outside the Chita Drama Theater, half a dozen campaigners on Wednesday gathered signatures for a petition to free jailed tycoon Mikhail Khodorkovsky on the eve of his parole hearing.

Syrian arms talk likely to rile West
Syrian President Bashar al-Assad might be hoping to capitalize on Moscow's current diplomatic isolation to expand military cooperation with Russia as he meets with President Dmitry Medvedev in Sochi on Thursday.

Business

Medvedev, tycoons to discuss tax cuts
President Dmitry Medvedev said Wednesday that he would meet with Russia's top business lobby in September, while billionaire Vladimir Potanin said the meeting would discuss potential changes to the country's tax system.

Russia to hold the line on Freddie, Fannie debt
Russia is not planning to raise its exposure to debt issued by troubled US agencies Fannie Mae and Freddie Mac, but will not cut it rapidly, deputy Finance Minister Dmitry Pankin said Wednesday.

DER SPIEGEL

Front page

Poland risks serious confrontation with Russia
The Cold War is returning to Poland. Warsaw wants to further tighten ties with Washington and it has used the US missile defense system to do so -- against massive opposition from Moscow. In return, the Poles will now be given Patriot missiles to protect themselves.

European heirs demand New York museums return Picassos
The heirs of German-Jewish banker Paul von Mendelssohn-Bartholdy are demanding that New York's most important museums hand over two Picassos. But MoMA and the Guggenheim are fighting back, claiming they are now the rightful owners.

TURKISH DAILY

Front page

Not a genocide, a 'tragedy' in Sudan
Sudan's president, who was charged last week with masterminding a campaign of rape and genocide in Darfur, denied yesterday his responsibility for the atrocities in a meeting with President Abdullah Gül.

President pardons ex-Islamic party leader
President Abdullah Gül announced yesterday that he had pardoned Necmettin Erbakan, former prime minister and ex-leader of Welfare Party, or RP.

Business and finance

Incentive package to foster investments
New incentives for encouraging job creation and helping Turkey's poorest regions could be implemented by as early as 2009.

Consumption of alcoholic beverages decreased 10 times
Although the production of alcoholic beverages increased in 2008, the fall in official consumption has attracted attention in Turkey. A banderole practice began November 2007 to combat the counterfeit production, but reflected negatively on consumption.

WARSAW BUSINESS JOURNAL

Front page

Inside the missile deal
WBJ speaks with Riki Ellison, a missile-defense advocate involved in the recent US missile-shield deal, about the state of the system and relations with the US and Russia.

PM-President row breaks out over TVP address
Both the PM and President turned to the public television TVP authorities with a request to air their address to the nation.

By: Staff Reporter
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