In Monday's Europe papers

15 September 2008 06:30  [Source: ICIS news]

FINANCIAL TIMES

Front page

Wall Street banks fight for life
Wall Street was in turmoil on Sunday as Merrill Lynch found shelter in a $44bn takeover by Bank of America and Lehman Brothers headed towards filing for bankruptcy.

Poor security blamed for Indian bombs
India’s opposition leaders blamed security and intelligence failures for multiple bomb blasts that killed 21 people in New Delhi, and declared the country to be at war with Islamist militants

Companies and markets

Merrill and BofA begin acquisition talks
Merrill Lynch is in talks to be acquired by Bank of America in a sign that the crisis gripping Lehman Brothers is forcing rival investment banks to seek partners to avoid suffering the same fate.

Asian shares stumble on Lehman woes
Asia-Pacific shares were pushed lower on Monday by the uncertainty surrounding Lehman Brothers as it teetered on the edge of insolvency.

INTERNATIONAL HERALD TRIBUNE

Front page

A growing crisis in polarized Bolivia
President Evo Morales is facing the most acute crisis of his presidency as deaths from pro- and anti-government violence in reached nearly 30 over the weekend.

After powerful hurricane, rescuers scour ravaged areas
The largest rescue operation in Texas history is taking nearly 2,000 people by boat and helicopter from towns ravaged by floods in the aftermath of Hurricane Ike.

Marketplace

Frantic day on Wall Street as banks teeter
Merrill Lynch agreed Sunday to sell itself to Bank of America for about $50bn, while Lehman Brothers headed toward bankruptcy.

For many denizens of Wall Street, frayed nerves and worried calculations
Fear and greed are the stuff that Wall Street is made of. But inside the great banking houses, those high temples of capitalism, fear came to the fore this weekend.

THE MOSCOW TIMES

Front page

Aeroflot jet crashes in Perm, 88 dead
A Boeing 737 that Aeroflot had operated for just seven weeks crashed minutes before landing in Perm on Sunday, killing all 88 people on board.

Putin and Medvedev differ on market Ills
Russian markets bounced back on Friday after a dreadful midweek slump, marking a possible turning point after losing more than 40% of their value this summer amid tumbling commodity prices and concerns over political risk.

Business

Record of $47.9bn planned for defense
Spending on arms will rise to a record $47.9bn next year, Deputy Prime Minister Sergei Ivanov said on Friday, as the Kremlin moves to beef up the armed forces after a conflict in Georgia. 

Enel’s chief sees no political risks
Conti says the Italian company has invested €3.3bn in Russia and will spend another €2.2bn by 2012.

DER SPIEGEL

Front page

The Sheikhs take on the oligarchs in British football
For years, Manchester City has been overshadowed in the British Premier League by richer and more glamorous teams like Chelsea and Manchester United. But now the new owners from Abu Dhabi have announced an unparalleled shopping spree that will shake up British football.

Turkey walks a tightrope between Russia and the west
Turkey was traditionally adept at maintaining good relations with both Russia and the West-until the Georgian crisis came along. Now both sides are making demands on Turkey. Has the time come for Ankara to choose sides?

TURKISH DAILY

Front page

Turkish Prime Minister continues attacks on media
Turkish Prime Minister Tayyip Erdoğan continued his attacks on the country’s largest media group despite growing domestic and international concerns over freedom of press.

A shaky life under dusts
Residents of the Cebeci Neighborhood live under a film of dust and often think there is an earthquake because of blasts emanating from nearby stone quarries. Breathing problems are common, which residents attribute to the nearby quarries

Business and finance

Finnish fund targets investment in equities 
Taaleritehdas East Asset Management is actively looking for new investment targets in Turkey for Lydian Lion, its long-only equity fund investing in listed Turkish companies. 

Iron Maiden to the rescue for tourists
Iron Maiden singer Bruce Dickinson flew to the rescue of holidaymakers left stranded abroad after Britain’s third largest tour operator collapsed, newspapers reported yesterday.

WARSAW BUSINESS JOURNAL

Front page

Investors submit plans to Polish Treasury
Polish Ministry of Treasury has received the investor proposals for the privatization and restructuring of Poland's shipyards, and will send them off later on Friday

Złoty further gains against the euro
The Polish złoty has made further advancement against the euro on Friday, helped by the recent announcement that Poland wants to join the euro in 2011

By: Staff Reporter
+44 20 8652 3214

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