In Thursday's Europe papers

08 January 2009 05:30  [Source: ICIS news]

FINANCIAL TIMES

Front page

RBS eyes sale of £2bn Chinese stake
Royal Bank of Scotland, the cash-strapped UK lender, is considering selling its £2bn stake in Bank of China amid a scramble by foreign investors in mainland banks to cash in their lucrative holdings.

ECB shuts its ears to rate cut call
The European Central Bank is showing few signs of succumbing to mounting calls to slash interest rates at its critical monetary policy meeting next week and now appears more likely than not to leave them unchanged or modestly reduced.

Companies and markets

Microsoft to unveil Windows update
Microsoft is set to release a test version of its next Windows operating system this week, pushing ahead with a full launch that could come before the end of the year even if the depressed state of the PC market continues, Steve Ballmer, chief executive, said on Wednesday.

Overview: Gloomy jobs data and Intel outlook give jolt
Financial markets were given a nasty jolt on Wednesday as a shocking report on US private sector employment and a grim outlook from technology bellwether Intel reminded investors of the headwinds facing the global economy.

INTERNATIONAL HERALD TRIBUNE

Front page

U.S. debt is losing its appeal in China
China has bought more than $1 trillion in American debt, but as the global downturn has intensified, Beijing is starting to keep more of its money at home - a shift that could pose some challenges to the U.S. government in the near future but eventually may even produce salutary effects on the world economy.

Ex-prostitutes say South Korea and US enabled sex trade near US military bases
South Korea has railed for years against the Japanese government’s waffling over how much responsibility it bears for one of the ugliest chapters in its wartime history: the enslavement of women from Korea and elsewhere to work in brothels serving Japan’s imperial army.

Marketplace

Crisis trumps constraint in US
As the ranking Democrat and then chairman of the House Budget Committee, Representative John Spratt Jr. of South Carolina accused President George W. Bush for eight years of recklessly running up huge fiscal deficits.

Satyam chief resigns over inflated assets
Satyam Computer Services, a leading Indian outsourcing company, hugely inflated earnings and assets for years, the chairman and co-founder said Wednesday, roiling stock markets in India and throwing a pall over the country’s foremost business sector.

THE MOSCOW TIMES

No new updates

DER SPIEGEL

Front page

Europe pushes for Russia to resume gas deliveries

The European Union is seeking a deal with Russia and Ukraine that would see the stationing of independent observers so that gas delivers can resume to Europe.

Detroit fights to survive amid global downturn
Detroit, America’s legendary automotive capital, has been in a permanent state of crisis for more than 30 years. But this time the industry’s very survival is at stake.

HURRIYET DAILY

Front page

Show of Israeli faith despite setbacks after crisis in Gaza
Despite dissatisfaction with Turkey’s "one-sided approach" throughout the Gaza crisis, Israel remains optimistic that the two regional allies will overcome their differences and disagreements.

Indirect route for YouTube to direct profit
The court ban on YouTube has been in place for months, but people are resorting to proxy servers. Gabriel Ramuglia, the administrator of hundreds of such servers, tells how traffic from Turkey has skyrocketed.

Business and finance

Requests for jobless benefits rise 90%
In the midst of the global turmoil, the number of people who collect unemployment benefits in Turkey has risen in tandem with the increasing unemployment rate.

Forecast for Turkish wheat raised by US
Turkey’s wheat production forecast has been raised 1.8% for the current marketing year on higher estimated yields, the United States Department of Agriculture said.

WARSAW BUSINESS JOURNAL

Front page

Government tries to block EU excise hike on tobacco
The governent will oppose a planned EU directive designed to raise the excise duty on cigarettes and thin-cut tobacco, as it would result in dramatic price increases, the Finance Ministry announced on Tuesday.

Shipyards sail into uncertain waters
On Tuesday a special law on shipyards entered into force and it will enable the closure of the Gdynia and Szczecin shipyards by June 6, the date imposed by the European Commission.

By: Staff Reporter
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