In Tuesday's Europe papers

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

FINANCIAL TIMES

Front page

Fears emerge over $700bn rescue
The dollar buckled, stocks tumbled and the price of oil jumped on Monday as the $700bn (£376bn) US government bail-out plan for the financial sector made slow progress in Washington and once-mighty Wall Street names turned to Japan to safeguard their future.

Oil price jumps $25 in a day
Crude oil prices jumped $25/bbl on Monday – the largest one-day rise – as financial investors betting on falling oil prices were forced to cover their positions ahead of the expiry of the current benchmark futures contract.

Companies and markets

Plea to extend shorting ban
More companies in the UK and the US have been appealing to regulators for protection from short selling after the practice was banned or restricted for banks and other financial stocks in many countries last week.

Overview: Sliding dollar sparks fresh surge in oil price
Investors dumped the dollar and flocked to precious metals and oil, while long term bond yields rose as investors focused on the inflationary consequences of the US Treasury’s plan to buy up to $700bn of toxic assets.

INTERNATIONAL HERALD TRIBUNE

Front page

Talks over U.S. bailout plan rattle markets
Senate and House Democratic leaders said on Monday that they had reached an agreement on their conditions for approving a $700bn rescue plan for the US financial system, including more oversight of the program and a requirement that the government do more to help troubled borrowers refinance their mortgages.

On safer streets in Baghdad, friction infiltrates patrols by Awakening groups
In Adhamiya, a neighborhood that only a year ago was among the most dangerous in Baghdad, the violence last week seemed almost negligible. A shootout near a checkpoint left two people dead on Sunday. Another man was killed on Monday by a small bomb placed under a car.

Marketplace

Asian markets decline
Asian markets declined Tuesday, echoing a drop in the US markets Monday over concerns about the prospects of the US government's proposed bailout package.

Japan and Europe offer support, but not financing, for bailout
The United States, having expanded its proposed rescue of the financial sector to include foreign banks, has not yet found any other country willing to join the landmark bailout.

THE MOSCOW TIMES

Front page

Prokhorov acquires half of RenCap
Bnaire Mikhail Prokhorov on Monday agreed to pay $500m for half of investment bank Renaissance Capital in the first major restructuring in the Russian banking sector since the outbreak of the global liquidity crisis.

Mamut takes on Yevroset and debt
The owners of Yevroset, the country's largest mobile phone retailer, said Monday that they had reached an agreement on the company's sale to ANN, the investment vehicle of bnaire Alexander Mamut.

Business

Chubais to oversee state nanotech firm
Anatoly Chubais, who dismantled the national electricity monopoly, will lead one of the country's next ambitious efforts at upgrading its economy as director of the State Nanotechnology Corporation, President Dmitry Medvedev said Monday.

Markets tick up in sign of stability
Russian markets enjoyed a modest rise Monday, continuing the positive trend set by Friday's record jump and taking a time out from the cycle of volatile movements in recent weeks.

DER SPIEGEL

Front page

Merkel says Washington helped drag Europe into the credit crisis
Response to Washington's multibn-dollar Wall Street bailout has involved a lot of skeptical grumbling in Germany and the UK.

Thomas Dörflein found dead
When Knut the polar bear became a world-wide celebrity, the media spotlight also fell on Thomas Dörflein the keeper who reared him. Now that story has ended tragically. Police on Monday confirmed that the 44-year-old had been found dead in his apartment.

TURKISH DAILY

Front page

New York meetings critical for Turkey-Armenia
The football diplomacy between Turkey and Armenia and the ongoing behind-the-scenes talks with three rounds already completed, will peak on an important stage this week during talks to be held on the sidelines of the U.N General Assembly in New York.

Domestic investors in limbo
The bankruptcy of the U.S. finance giant Lehman Brothers, which had the globe trembling, has created a group of aggrieved people in Turkey, as Citibank Turkey had acted as intermediary for some Lehman securities.

Business and finance

TOKİ to hold auction for the sale of land in Halkalı
Turkey's Mass Housing Administration, or TOKİ, is selling land in Istanbul's Halkalı district to be used for the construction of a theme park.

Is REIT to open shopping centre in İzmir
The Istanbul-based İş Real Estate Investment Trust, or REIT, which constructed the Kanyon Shopping Centre in Istanbul's Levent district in partnership with the Eczacıbaşı Group, readies to construct a $15m shopping centre in İzmir's Salhane-Turan region.

WARSAW BUSINESS JOURNAL

Front page

BBI to enter advertising sector again
BB Investment is returning to the advertising market after many years, this time with digital signage in hypermarkets.

IPN budget to be cut unless it changes its strategy
According to information from the chairman of the National Remembrance Institute (IPN) Janusz Kurtyka, there was pressure on the institution to change its strategy.

By: Staff Reporter
+44 20 8652 3214

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 27 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly