In Thursday's Europe papers

20 November 2008 05:30 [Source: ICIS news]

Front page

Darling lifeline for small companies
Alistair Darling, chancellor, will next week throw Britain’s struggling small and medium-sized companies a credit lifeline, in an admission that the £37bn bank bail-out has so far failed to boost lending to business.

Iran increases stockpile of uranium
Iran is forging ahead with its nuclear programme, the United Nations’ nuclear watchdog reported on Wednesday, deepening the dilemma facing US president-elect Barack Obama over his campaign promise to engage with Tehran.

Companies and markets

BASF to cut output by 25%
BASF, the Germany-based chemicals group, will cut output by 25% and reduce the working hours of 20,000 of its staff for the next two months, as the effects of the credit crunch continue to affect the real economy.

Overview: Deflation fears drive equities sharply lower
Concerns over the US car industry and the prospect that deflation could add to the severity of global recession dents confidence on both sides of the Atlantic.

INTERNATIONAL HERALD TRIBUNE

Front page

Sarkozy's fiscal meeting raises diplomatic hackles
Some American officials are on edge following French President Nicolas Sarkozy's aggressive statements about American capitalism, and his decision to hold his own financial summit meeting.

Qaeda greets Obama victory with an insult
In Al Qaeda's first response to the US election, Osama bin Laden's top deputy, Ayman al Zawahiri, condemned President-elect Barack Obama as a "house Negro" who would continue a campaign against Islam.

Marketplace

Hopes dim for quick bailout for US automakers
After two days of testimony, the chief executives of GM, Ford and Chrysler were unable to convince lawmakers to aid their industry by tapping the $700bn financial rescue programme.

Sarkozy's fervor for summit meetings raises hackles in Washington
By announcing he would hold another summit meeting in Paris, the French president highlighted his determination to press forward on what he sees as a long-overdue discussion of American-style capitalism and its excesses.

THE MOSCOW TIMES

Front page

$57bn spent on ruble in two months
Central Bank chairman Sergei Ignatyev and Finance Minister Alexei Kudrin tell the Duma about their anti-crisis measures.

Investors spooked by halts in trading
Since early September, Russia’s MICEX exchange has experienced multiple one-day percentage drops in the double digits and lost almost 60% of its value.

Business

Government waffles on electricity prices
The government could delay the liberalisation of power prices, a key element of the electricity sector reforms that enticed investors to take on mandatory multibillion dollar expansion programmes, a state-controlled watchdog for the industry said on Wednesday.

Overdue wages soar 33% in October
Overdue wages soared 33 % in October, reaching more than 4bn rubles ($146m), as the cash-strapped manufacturing, transportation, construction and agriculture sectors have begun delaying payments, the State Statistics Service said on Wednesday.

DER SPIEGEL

Front page

Obama and the ballooning US debt
By some estimates the total cost of Barack Obama's campaign promises could come to $2 trillion. The new president will have to disappoint many of his voters-or resign himself to an enormous government deficit.

Berlin braces for English invasion
The match is billed as a friendly, but the classic clash between two soccer-obsessed nations on Wednesday is no laughing matter for die-hard fans.

HURRIYET DAILY NEWS

Front page

Ankara, Baku face pricing problems
The long history of Turkey and Azerbaijan as traditional allies is barely managing to contain a new potential crisis, created by none other than the age old issue of wealth and resources.

Alevis welcome Bahçeli’s message
Alevi organisations welcome Nationalist Movement Party leader Devlet Bahçeli’s remarks, considering the move a response to the Alevis’ demonstration in Ankara where they voiced their problems and demands.

Business and finance

Banks facing challenges
The global credit crunch is also affecting Turkish banks, as they restructure and try to curb borrowing.

Doğan to sell stake in its media group
Doğan Holding, which runs Turkey's biggest media company, plans to sell a stake in the unit, according to a filing with the Istanbul Stock Exchange.

WARSAW BUSINESS JOURNAL

Front page

Pfleiderer Europoles to open €100m plant
Pfleiderer Europoles, a producer of poles, masts and towers for the telecommunication, energy and transport sectors, will construct a €100m plant near Konin, which will create 120 jobs.

Investors furious after Immoeast 'loses' €520m
Shareholders of property developer Immoeast listed on the stock exchanges in Warsaw and Vienna feel cheated and declared they will fight for compensation after €520m has gone missing from the firm.

By: Staff Reporter
+44 20 8652 3214

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