In Tuesday's Europe papers

28 October 2008 05:30  [Source: ICIS news]


Front page

Further instability possible, Bank says
Britain’s financial system faces possibility of further instability, with health of insurers and hedge funds among current areas of concern, Bank of England warns.

ECB hints at action as outlook darkens
Eurozone interest rates will almost certainly be cut again next week, the European Central Bank signalled on Monday, as collapsing German business confidence confirmed the devastating impact the bank crisis has had on eurozone growth.

Companies and markets

US regional banks eye deals with Tarp cash
American regional banks accepted more than $30bn of fresh capital from the US Treasury’s Troubled Asset Relief Programme, in a move that is likely to spur a consolidation of the US banking sector.

Overview: Pressure remains high after huge falls in Asia
Japanese shares closed at their lowest since 1982 and Hong Kong suffered its worst fall for 11 years as investors continued to fret about the outlook for the global economy.


Front page

US says Iraqi militant killed in Syria raid
The operation appeared to reflect an effort by the Bush administration to find a way to attack militants even beyond the borders of Iraq and Afghanistan.

Obama and McCain clash over taxes as contest nears climax
Barack Obama said it was time to "get beyond the old ideological debates," even as he and John McCain spent the day engaged in just such a debate.


White House explores aid for merger between GM and Chrysler
The Bush administration is examining a range of options for providing emergency financial help to spur a deal, government officials said.

Rising yen worries Japan
Currency analysts say that most of the yen's recent gains are caused by the end of one of the world's largest easy-money schemes, the so-called yen carry trade.


Front page

Shuvalov says no need to fear state
In a new state drive to soothe investors, First Deputy Prime Minister Igor Shuvalov said Monday that the government would not use the financial turmoil to change economic policy or nationalise large swathes of the economy.

Pro-Kremlin youths take backseat to crisis
Last year, pro-Kremlin youth groups were all over television, promising then-President Vladimir Putin love and loyalty, picketing foreign embassies and harassing a hodgepodge of opposition activists.


Rosneft may get loan from China
When Prime Minister Vladimir Putin and Chinese Premier Wen Jiabao meet Tuesday, they may reach a new oil export deal that would win Rosneft a much-needed line of credit from Beijing.

Central Bank offers sources for liquidity
The Central Bank said Monday that new funding sources could be open to banks starting next month, as available resources were squeezed by month-end tax payments and supporting the ruble, pushing money market borrowing costs to one-week highs.


Front page

Financial crisis exposes German leader's weaknesses
The financial crisis and the threat of recession are revealing German Chancellor Angela Merkel's weaknesses and could contribute to a dramatic change in her party's prospects in next year's election.

'America remains number one'
In an interview with Spiegel, American neoconservative scholar and McCain adviser Robert Kagan speaks about the legacy of the Bush-Cheney years, America's future position atop a "League of Democracies" and how China and Russia will push Europe back into America's arms.


Front page

Call for global overhaul
Asian and European leaders called for an overhaul of the global financial system during a weekend summit in Beijing.

Human rights luxury for mentally disabled in Turkey: Survey
Despite positive developments, Turkey's mental hospitals and rehabilitation centers still fail to meet international human rights standards, a new study has revealed.

Business and finance

Govt aims to lessen energy dependence
The Turkish government has started to focus on renewable energy, in an effort to decrease energy imports, which account for a large part of the current account deficit.

Turkisfund targets Dutch, Irish clients
Turkisfund, a Luxemburg-based investment company managed by Is Asset Management, is focusing on the Netherlands and Ireland as potential new markets for its three Turkish investment funds.


Front page

Sanwil fails to carry out foreign acquisitions
Synthetic leather producer Sanwil did not manage to carry out any of its planned acquisitions on foreign markets, but is still planning to buy another company.

Jobs offered online drop due to turbulent economic times
In Q3, for the first time in years, there was a decrease in the number of job offers on the internet, as some employees, in particular the finance, heavy industry, construction sector and real-estate halted recruitment.

By: Staff Reporter
+44 20 8652 3214

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