In Wednesday's Europe papers

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

Front page

Obama: We must change with the world
President Barack Obama signalled a decisive break with the Bush years on Tuesday, vowing a “new era of responsibility” in which he would rebuild the economy and restore America’s standing in the world.

Stricken UK banks shunned by overseas lenders
Funding difficulties for UK companies are being made worse by a sharp reduction in lending to British banks by overseas institutions.

Companies and markets

BHP Billiton to axe 6,000 jobs
The world’s biggest mining group underlined the pain being felt by the industry when it said its would axe 6,000 employees and close a nickel mine in Western Australia.

Overview: No ‘Obama bounce’ for global equities
Banking stocks came under further intense pressure as a much-hoped-for positive effect on global equity markets failed to materialise.

INTERNATIONAL HERALD TRIBUNE

Front page

Rejecting Bush era, reclaiming older values
Barack Obama's Inaugural Address on Tuesday was a stark repudiation of the era of George W Bush and the ideological certainties that surrounded it, wrapped in his pledge to drive the United States into "a new age" by reclaiming the values of an older one.

Obama takes oath and nation embraces the moment
Barack Hussein Obama was sworn in as the 44th president of the United States on Tuesday and promised to "begin again the work of remaking America" on a day of celebration that climaxed a once-inconceivable journey for the man and his country.

Marketplace

As bank crisis deepens, Obama has no quick fix
Even before they have settled into their new jobs, President Barack Obama's economic team faces an acute crisis in the US banking system that has no easy answers and that they are not yet prepared to address.

Fiat alliance gives Chrysler another lifeline
Chrysler has flirted with bankruptcy at several points in its 84-year history, only to come back from the brink with new management, a new owner, a hot new product or a financial lifeline from the government.

THE MOSCOW TIMES

Front page

Bill gives people the right to know
The State Duma on Wednesday is to consider in a third and final reading a bill spelling out citizens' right to gain access to government documents and outlining punishments for officials who do not comply.

Expats digging in for long haul
Although Russia has found itself among the countries worst-hit by the global financial mayhem, expatriates living here seem to be casting their lots with their adopted country, hunkering down through the economic malaise in hopes of brighter times ahead.

Business

Budget figures hint at looming deficit
Russia's budget surplus narrowed in December after an end-of-year spending increase, evidence that the government is heading for its first deficit in a decade this year.

X5 sees smaller stores closing
About one-quarter of the country's smaller food stores may go out of business because of the credit crunch, the head of X5 Retail Group said on Tuesday after his company posted a 41% gain in fourth-quarter sales.

DER SPIEGEL

Front page

Global crises will define Obama's presidency
As president, Barack Obama must now translate his lofty words into concrete action. The economy is sliding deeper into crisis, the Middle East is increasingly unstable and the Republicans are waiting for his first mistakes.

Magic mountain for Berlin?
The city of Berlin has long been trying to decide what to do with the monumental Tempelhof airport, built in the heart of the city by the Nazis.

HURRIYET DAILY NEWS

Front page

As Obama says, ‘I do,’ Turks ask, ‘Will he?’
Turks’ belief in Obama’s ability to improve US relations around the world has risen in the last six months, a poll shows, but Turkish experts question if the new president is savvy enough to fulfill his promises.

AKP diplomacy draws attacks
Nationalist Movement Party leader Devlet Bahçeli criticises the government for acting hypocritically while Republican People’s Party leader Deniz Baykal accuses Prime Minister Recep Tayyip Erdoğan of acting like a representative of Hamas.

Business and finance

Turkey's İzmir holds on tight to its bourse
The plans of the Istanbul Stock Exchange to acquire the İzmir-based Turkish Derivatives Exchange and move its headquarters to Istanbul cause a local backlash.

Households under burden of gas bills in Turkey
With November's hike in natural gas prices, the cost for households has increased 72.7%, while costs for industry have risen 74.9% since the beginning of 2008.

WARSAW BUSINESS JOURNAL

Front page

Greek cooler maker to close Polish plant
Frigoglass, a Greek company, and one of the world's largest producers of refrigeration systems, will close a factory in Poland, it announced on Tuesday.

PZPN chairman sacked
Michał Listkiewicz has been dismissed from chairman duties at the Polish Football Association (PZPN). His place will be filled by vice-chairman Adam Olkowicz.

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