In Thursday's Europe papers

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

FINANCIAL TIMES

Front page

Panic grips credit markets
The panic in world credit markets reached historic intensity prompting a flight to safety of the kind not seen since the Second World War.

Lloyds TSB seals £12bn HBOS rescue
Lloyds TSB on Wednesday night agreed a £12bn rescue takeover of HBOS after the government brokered a deal to save the country’s largest mortgage lender from a crisis of confidence.

Companies and markets

Morgan Stanley in talks with Wachovia
Morgan Stanley is in preliminary merger talks with Wachovia, the troubled regional lender, and is exploring other potential deals in an effort to avoid becoming the next victim of the credit crunch.

Banks lead Asian shares lower
Stock markets tumbled in Asia as trading began on Thursday, taking their cue from 4.1 per cent fall on the Dow Jones Index overnight in New York.

INTERNATIONAL HERALD TRIBUNE

Front page

Financial crisis enters new phase
Many credit markets stopped working normally as investors around the world frantically moved their money into the safest investments, like Treasury bills.

Poll finds McCain, in tight race, is still tied to Bush
Senator John McCain is seen by voters as far less likely to bring change to Washington than Senator Barack Obama, according to the latest New York Times/CBS News Poll.

Marketplace

Asian investors dump stocks
The Nikkei share average dropped 3.2%; the Hang Seng index fell 4%; and Macquarie Group plunged 21% leading the Australian share index down 3 %.

Israeli foreign minister claims a party victory
An election to replace Prime Minister Ehud Olmert was unresolved on Thursday morning, with Tzipi Livni saying she had outpolled her main rival.

THE MOSCOW TIMES

Front page

Bankers get wish for extra liquidity
A crisis of confidence shaking the banking sector appeared to ease on Wednesday as the interbank lending rate slid by the end of the day, following a government pledge to provide greater access to funds for the country’s three largest banks.

Markets end day stuck in limbo
In an unprecedented step, trading on Russian stock markets was suspended midday on Wednesday until further notice, as financial authorities stepped in after the country’s top two banks lost one-fifth of their value in an hour.

Business

Pitching green cars as high-tech
Hybrid cars might be all the rage among Western drivers worried about high gas prices and pollution. But many Russian drivers couldn’t care less.

Aeroflot bans use of its name
Aeroflot on Wednesday banned all its subsidiaries from using the airline’s name and logo in an attempt to protect its reputation after the weekend crash of a jet operated by subsidiary Aeroflot Nord killed 88 people.

DER SPIEGEL

Front page

Spiegel Online launches partnership with NRC.NL
As part of an effort to establish a network of English Web sites from Europe’s leading high-quality journalism brands, Spiegel Online has launched a partnership with NRC Handelsblad in The Netherlands.

Linz tackles its past as a ‘führer’ city
Linz is to be Europe's Capital of Culture in 2009. Before the Austrian city takes on that mantle it is showing an exhibition about how Hitler had wanted to make Linz a "Culture Capital for the Führer."

TURKISH DAILY

Front page

Atatürk’s life on silver screen again
The first documentary covering Atatürk’s life from his early years in Thessalonica to his final years in Dolmabahçe Palace in Istanbul will be on screen on Oct. 29. The documentary, written and directed by journalist Can Dündar, the maker of the renowned documentary ‘Sarı Zeybek’

Discrimination pervades workplaces
A comprehensive survey among Turkish companies attest that gender discrimination continues to disfavor homosexuals. Religious and ethnic differences still matter for companies, a result more apparent in some cities than in others.

Business and finance

Folkart Narlıdere Evleri offers a luxury lifestyle
Folkart Yapı A.Ş., one of Turkey’s leading construction firms, is nearing the completion of its Folkart Narlıdere Evleri project, located in the Aegean city of İzmir.

Bugatti available for Turkish car enthusiasts
Doğuş Otomotiv and Bugatti unveiled the Bugatti Veyron 16.4, known as the most expensive sports car in the world, for sale in Turkey on Monday.

WARSAW BUSINESS JOURNAL

Front page

Russia slashes exports via Poland
Russia plans to cut oil exports via the Polish port of Gdańsk while increase shipments from its biggest Black and Baltic Sea ports.

Skepticism towards euro adoption grows
Poland's goal to adopt the euro in 2011 is unlikely, according to the President's aid.

By: Staff Reporter
+44 20 8652 3214

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