In Tuesday's Europe papers

30 September 2008 07:00  [Source: ICIS news]

FINANCIAL TIMES

 

Front page

 

House rejects US bail-out bill
US stocks suffered their worst one-day fall since the 1987 crash after the House of Representatives shocked investors by voting to reject the Bush administration’s $700bn bail-out plan.

 

US and Asia stocks plunge after bail-out vote
Asian equity markets tumbled in reaction to the US House of Representatives rejection of a Bush administration’s $700bn bail-out plan for the financial industry while earlier US stocks suffered their biggest fall since the Black Monday crash of 1987.

 

Companies and markets

 

Regional US banks take a mauling
Ailing US banking stocks were hit by heavy selling on Monday as investors fled from regional lenders and Wall Street giants Goldman Sachs and Morgan Stanley amid growing fears of more turmoil in the sector.

 

Overview: Fear grips global markets
The failure of US lawmakers to gather enough votes to pass the $700bn bail-out package on Monday, sparked the worst day on Wall Street since the crash of 1987 and accelerated the buying of safe haven assets including Treasuries and gold.

 

INTERNATIONAL HERALD TRIBUNE

 

Front page

 

US House rejects plan for bailout
In a moment of historic drama in the Capitol and on Wall Street, the House of Representatives voted 228-205 to reject a $700bn rescue of the financial industry.

 

For US stocks, worst single-day drop in two decades
The drop reinforced fears on Wall Street as investors wondered whether the bailout plan would eventually pass the US Congress.

 

Marketplace

 

Reaching for the right levers in an anxious situation
Without the bailout plan they lobbied for, the Treasury and the Federal Reserve will have to dig deep into their toolkits.

 

Crisis reaches European institutions
Official efforts to stem the fallout had little of the desired confidence-boosting effect on markets.

 

THE MOSCOW TIMES

 

Front page

 

$90bn gas deal signed with Seoul
Moscow and Seoul on Monday signed a deal to send Siberian gas to South Korea, an estimated $90bn project that both nations said would help prop up the North Korean economy.

 

Putin promises $50bn for banks
The government will provide a further $50bn to increase liquidity in the banking system and fight the "contagion" that has spread from the United States, Prime Minister Vladimir Putin said Monday.

 

Business

 

Ordinary people could feel bankers' pain
Although lenders insist their consumer business is going strong, the threat that the global financial crisis could hurt them remains.

 

$390m Polyus offer to get KazakhGold
Polyus Gold has made its first major foreign expansion move, offering $390m in cash and shares for a 50.1% stake in KazakhGold, the Kazakh company said Monday.

 

DER SPIEGEL

 

Front page

 

'We were all staring into the abyss'
Spiegel spoke with German Finance Minister Peer Steinbrück about the roots of the US credit disaster, whether Germany is in grave danger and what the future has in store for world banking.

 

From the Rhine river to the Jihad

The arrest of two Muslim extremists at the Cologne-Bonn airport last week shows that German converts continue to volunteer for the jihad.

 

TURKISH DAILY

 

Front page

 

Is Ramadan turning into Christmas?
During the holy month of Ramadan, municipalities compete with each other with festivals and events organised. Almost all hotels and restaurants come up with "iftar" menus.

 

Far right surges in Austria, as Turk enters parliament
TDN with wire dispatches Austria's far-right parties made huge gains in weekend parliamentary elections, according to preliminary results, while the Social Democrats received the most votes, yet saw their worst results at the polls in decades.

 

Business and finance

 

Auto supplier industry suffers due to slowdown
Contraction in the automotive sector has major negative affects in the supplier industry. As automotive producers’ orders for the Turkish supplier industry decline 30%, the sector loses hopes for the upcoming year.

 

Khodro models ready
Khodro, a major Iranian car manufacturer, plans to introduce new products under its Samand brand at the Istanbul Auto Show 2008, which will be held 10-19 October at the CNR Expo Center.

 

WARSAW BUSINESS JOURNAL   

 

Front page

 

Inter Cars expanding into Romanian market
The largest domestic distributor of car parts, Inter Cars, is planning to implement the same operating model in Romania as it uses in Poland.

 

Mispol a potential take over target?
A bear market dragged the value of many companies below their real value according to Marek Piątkowski, president of canned meat and ready meals producer Mispol.

By: Staff Reporter
+44 20 8652 3214

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