In Friday's Europe papers

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

FINANCIAL TIMES

Front page

Obama takes the fight to McCain
Barack Obama accepted the Democratic nomination for president on Thursday night with a hard-hitting address at a 75,000-seat stadium that blended flashes of the Illinois Senator’s soaring rhetoric with a litany of policy proposals intended to ease the lives of a struggling middle class.

Tax fears as companies shift to Ireland
Two British companies are to shift their headquarters to Ireland – a dramatic sign of the rising pressure on the Treasury to keep its tax system competitive.

Companies and markets

Merrill losses wipe away longtime profits
Merrill Lynch’s losses in the past 18 months amount to about a quarter of the profits it has made in its 36 years as a listed company, according to Financial Times research that highlights the extent of the global banking crisis.

Overview: Equities advance after US growth improves
Unexpected signs of strength in the US economy gave equity markets a shot in the arm on Thursday, with further support coming from a sharp retreat for oil prices.

INTERNATIONAL HERALD TRIBUNE

Front page

Obama takes aim at Bush and McCain
Barack Obama accepted the Democratic Party presidential nomination tonight, declaring that the “American promise has been threatened” for eight years under President George W Bush and that John McCain represented a continuation of policies that undermined the nation’s economy and imperiled its standing around the world.

Putin suggests US role in Georgia clash
As Russia struggled to rally international support for its military action in Georgia, Vladimir Putin, the country’s paramount leader, lashed out at the US on Thursday, contending that the White House may have orchestrated the conflict to benefit one of the candidates in the American presidential election.

Marketplace

Toyota joins other automakers in warning of more troubles ahead
Even Toyota is not immune to the slowdown in the global economy. The Japanese company, which is battling General Motors for the title of the world’s largest automaker, cut its sales forecasts on Thursday, warning that higher fuel costs and the economic downturn in the US and Europe are likely to hold back the auto business at least through 2009.

US GDP growth beats expectations
The US economy expanded faster from April to June than originally thought, the government said on Thursday, catching many economists off guard and encouraging investors.

THE MOSCOW TIMES

Front page

Medvedev disappointed in Dushanbe
Moscow fell short of the diplomatic support it was looking for Thursday, as Central Asian states and China failed to back its recognition of independence for South Ossetia and Abkhazia, offering instead only qualified praise for Russia's actions in the Georgian conflict.

Putin accuses US over Georgia
Prime Minister Vladimir Putin on Thursday accused the US of orchestrating the military conflict in Georgia in order to boost the chances of a US presidential candidate.

Business

Investors bet millions on the sun
The image of Russia as a dark northern country that lives off its fossil fuels might be well-founded. But companies that rely on global demand for solar energy and Russia’s scientific base have investors convinced.

Football is becoming big business in Russia
As coach Dick Advocaat celebrated with his Zenit St Petersburg team after they won the club’s first European trophy, his mobile phone buzzed. It was Prime Minister Vladimir Putin.

DER SPIEGEL

Front page

Israeli settlers look for compensation to leave
Many Israeli settlers would gladly leave their homes in the West Bank, as long as they are compensated financially. The group Bait Echad has been pushing for a planned withdrawal to avoid a repeat of the chaotic scenes in the Gaza Strip.

EU considers sanctions as Russia looks for friends
With EU leaders set to gather on Monday to discuss Russia and the crisis in Georgia, France today announced that sanctions will be considered. Russia responded by saying the EU has a “sick imagination.”

TURKISH DAILY

Front page

Political realities fuel nuke option
Turkey is steaming ahead in its ambitious pursuit of nuclear power. Loud critics say the government is inadequately prepared in terms of personnel, technology and regulations. The government counters by saying the country needs the energy source for less dependence on foreign energy and for its growing economy.

Pamuk’s book on shelves
A new book by Nobel Prize-winning novelist Orhan Pamuk, “The Museum of Innocence,” will be released in Turkey this week.

Business and finance

UK annual house prices plummet
UK house prices posted the biggest annual decline in almost two decades in August after tighter mortgage lending and the prospect of a recession discouraged home buyers, Nationwide Building Society said.

UK property firm reports loss
Capital & Regional, the worst-performing UK property stock since the start of 2007, reported a first-half loss after the value of its shopping centers fell.

WARSAW BUSINESS JOURNAL

Front page

Chinese to open car manufacturing plant in Poland
Jiangling Motors Group Company (JMC) plans to construct a production plant in Poland, which will mark the first such Chinese facility in Europe, according to Rzeczpospolita.

Waszczykowski nominated to a void position
Former Deputy Foreign Minister Witold Waszczykowski received on Thursday a nomination from President Lech Kaczynski to become deputy head of the National Security Office (BBN), filling a void position left by Roman Polko.

By: Staff Reporter
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