In Wednesday's Europe papers

11 March 2009 05:30  [Source: ICIS news]


Front page

ITV investors question Grade’s position
ITV’s board is discussing a possible share issue after taking informal soundings from investors about raising capital to ease its £730m debt burden.

CBI chief warns over G20 ‘red herrings’
Gordon Brown’s focus on "red herring" issues such as bank bonuses and tax havens risks turning next month’s summit of the Group of 20 nations into a catastrophe that fails to deal with the recession, the CBI employers’ group has warned.

Companies and markets

Overview: Investors ignore gloomy world economic data
US and European equities surged on Tuesday as investors adopted a more positive view of the prospects for the banking sector and shrugged aside further gloom on the global economy.

Oil consolidates gains on signs of Opec progress
Oil prices consolidated their gains above $45 a barrel on Tuesday, helped by a rebound in global markets and signs that the Opec oil cartel is winning its battle to narrow the gap between falling demand and production.


Front page

Madoff will plead guilty; he could face life in prison
Bernard Madoff is facing life in prison for operating a vast Ponzi scheme that began at least 20 years ago and consumed billions of dollars of other people's money.

Chinese exports plunge 25.7% in February
China's exports fell much more sharply than expected in February, data showed on Wednesday, as the economy finally felt the full force of the global financial crisis.


Asian markets rally on Citigroup CEO's comments

Asia stocks rallied on Wednesday on hopes Citigroup will deliver a first-quarter profit, relieving fears that US banks are heading toward nationalization and emboldening investors to sell US dollars.

A Brussels brouhaha over coffee machines
As if running an organisation of 27 countries was not complicated enough, a new position has been added at European Union headquarters: coffee monitor.


Front page

Budgets for next two years face Ax
The Cabinet will propose to cancel the federal budget for next year and 2011 instead of adapting them to falling revenues, Finance Minister Alexei Kudrin said on Tuesday.

Makers of nesting dolls seek bailout
Alexei Polikarpov was apologetic during an interview in his cold, dimly lit office on the outskirts of Semyonov, the heart of Russia's nesting doll industry.


Hungary, Russia sign gas pipe deal
Prime Ministers Vladimir Putin and Ferenc Gyurcsany presided over the signing of a deal Tuesday to create a joint venture that will build the Hungarian section of the South Stream gas pipeline by 2015.

Uralkali to pay $140m for bypass
Uralkali has offered to pay 5bn rubles ($140m) toward the cost of a rail bypass around a damaged mine, bringing its total costs related to the accident to 7.8bn rubles.


Front page

50 years later, Beijing still fails to control Tibet
Tuesday marks the 50th anniversary of the 1959 revolt in Tibet against China and the Dalai Lama's flight from the country.

‘Window of opportunity' for US-Russia relations’
Ties between Washington and Moscow have been frosty in recent years. But former US Ambassador Thomas Pickering sees a golden opportunity for improvement.


Front page

Independent ballot inspectors needed
An autonomous institution must be put in charge of the election process to ensure its independence from any potential government intervention, leading constitutional-law and election-law experts say.

200 years after Darwin, 83 years after Scopes
A last-minute decision to pull Charles Darwin, the father of evolution, off the cover of a top Turkish scientific journal and the chief editor off the job has fueled criticism that Turkey's national research council is too politicised.

Business and finance

Turkish CB uses bullets against crisis, ball in govt’s court

The recent negative economic data and increased volatility in the money markets placed the Turkish government under the spotlight amid intensified campaigning ahead of the local elections scheduled for end March.

Ankara ranks best in competitiveness
Creativity pays off for Turkey’s capital city of Ankara. The virtue has carried the city to the top of a list that was conducted to rank Turkish cities on their competitiveness.


Front page

Bulgarian pharmaceutical giant to debut on WSE
Within a few months, the first Bulgarian company is to debut on the Warsaw Stock Exchange (WSE).The firm in question is Sopharma, the largest Bulgarian pharmaceutical producer.

Massive layoffs on the horizon
In a survey covering 160 Polish companies, around 87% of respondents believe that the economic crisis will only get worse.

By: Staff Reporter
+44 20 8652 3214

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