In Thursday's Europe papers

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

FINANCIAL TIMES

Front page

Economy fears spark plunge in sterling
The pound plunged to its lowest level against the dollar since 1985 on Wednesday amid growing fears for the economy and uncertainty about the government banking support package.

FSA briefs auditors on banks
The City regulator is holding talks with top auditors to try to ensure banks are not destabilised by accountants making a qualified judgement in annual accounts on their capacity to continue as a going concern.

Companies and markets

AIG starts $20bn auction of Asian unit
AIG, the stricken insurance giant, on Wednesday kicked off the sale of its Asian life assurance unit – one of its most prized assets – in the hope of raising up to $20bn to help repay the $60bn US government loan that is keeping the group alive.

Overview: Fears over banks and economy spark volatility
Financial markets saw further volatility as worries about the fragility of the banking sector and deepening gloom about the global economic outlook remained uppermost in investors’ minds.

INTERNATIONAL HERALD TRIBUNE

Front page

In Afghan south, Taliban fill NATO's gaps
The Taliban are everywhere the soldiers are not, the saying goes in the southern part of the country.

Obama to close foreign prisons and Guantánamo
President Barack Obama is expected to take the first steps to undo Bush-era detention policies on Thursday, signing executive orders directing the Central Intelligence Agency to shut what remains of its network of secret prisons and ordering the closing of the Guantánamo detention camp within a year, government officials said.

Marketplace

Manufacturing slump sends fear across Asia
At a three-story factory here that used to make remote controls for televisions around the world, most of the fluorescent lights have been turned off. The hallways are nearly silent and three-quarters of the workers have been laid off.

As the pound falls, so does mood in Britain
With the pound at a seven-year low and still falling, it is no wonder that observers in recent days have pronounced this city “Reykjavik-on-Thames”.

THE MOSCOW TIMES

Front page

Medvedev looks to fill senior posts
President Dmitry Medvedev said on Wednesday that a final list of the country's top 1,000 managers, which the Kremlin is compiling to help fill senior government posts, has been completed and will be made available to the public.

Ruble claws back after two-month decline
The Central Bank widened the ruble's trading band on Wednesday for the third time in as many days, yet for the second straight day the currency gained against both the dollar and the euro as tax payment deadlines helped produce a ruble deficit.

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.

Russian gas reaches Europe again via Ukraine
Russian gas reached Europe via Ukraine for the first time in two weeks on Tuesday after Moscow and Kiev ended a contract row that cut supplies to about 20 European countries.

DER SPIEGEL

Front page

The new American feeling
The United States has got its groove back. The 44th president is seen by many, both at home and abroad, as a beacon of hope in a crisis-ridden world.

Berlin sees no limits to economic intervention
As part of her efforts to combat the economic crisis, German Chancellor Angela Merkel is increasing the state's influence in the market, buying holdings in banks and bailing out individual industries and companies.

HURRIYET DAILY NEWS

Front page

All thumbs up on signal by Obama
Policymakers and analysts see likely future US envoy to the Middle East George Mitchell as an encouraging signal that Washington wants to bring balance back into its policy for the region.

Armenians press Obama
As Barack Obama assumes the United States presidency, the largest US Armenian group launches a fresh initiative to urge the new administration to officially recognise the Armenians’ claims of genocide with e-mails and letters.

Business and finance

Turmoil turns into crisis of confidence in Turkey
The global turmoil has evolved into something bigger than just a liquidity or credit crunch.

Turkish banks ‘lend to those with credibility’
Responding to complaints that banks are cutting down on lending to companies, a top banking executive said the Turkish finance sector "has not withdrawn from the real economy."

WARSAW BUSINESS JOURNAL

Front page

Polish PM sends congratulatory letter to the new US President
In a letter sent to US President Barack Obama, Polish Prime Minister Donald Tusk congratulated the newly appointed leader.

BZ WBK not for sale
Poland’s mid-sized lender BZ WBK may soon be sold according to information obtained by daily Parkiet, however, its Irish owner Allied Irish Banks has denied Wednesday’s report.

By: Staff Reporter
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