In Thursday's Europe papers

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


Front page

Darling signals Budget restraint
Chancellor Alistair Darling on Wednesday gave a clear sign he would not mount a big new fiscal boost in next month’s Budget, as he surveys bleak public finances and evidence that the economy is being bolstered in other ways.

Stampede to sell UK government bonds
Investors flocked to sell government bonds to the Bank of England as it launched an unprecedented programme to expand the money supply and breathe new life into the economy.

Companies and markets

Overview: Equities advance but investors remain cautious
US and European equity investors held their nerve on Wednesday following Tuesday’s strong rally although persistent caution about the financial sector outlook made for an uneasy session.

Financials continue gains on Wall Street
US stocks held on to modest gains on Wednesday in a choppy session as equity markets closed up for their second consecutive session for the first time in a month.


Front page

China now turning away other people's trash
Each morning, Tian Wengui emerges from the home he makes under a bridge here with two large sacks slung over his shoulder.

Hundreds jailed as Pakistan bans planned protest
The civilian government banned a national protest march and arrested hundreds of political workers on Wednesday, evoking for many Pakistanis the sweeping security restrictions of the military dictator, General Pervez Musharraf.


Is Europe 'in denial' on depth of crisis?
After a burst of initial action last autumn, experts say policy makers on the Continent are moving too slowly to keep up with the worsening situation, unwilling to ante up for a big US-style stimulus package.

Cuomo says Merrill deceived Congress on bonuses
Andrew Cuomo, the attorney general of New York, on Wednesday claimed Merrill Lynch was misleading Congress over its plans to award billions of dollars in bonuses last December.


Front page

Kazakhstan suggests a new currency
Kazakh President Nursultan Nazarbayev on Wednesday proposed a common currency for five former Soviet republics, a slap in the face for Russia, which has been promoting the ruble for the role.

Family values take over empty billboards
Moscow's outdoor advertisements beckoned passers-by to open their wallets and spend, spend, spend last year.


Severstal posts Q4 losses of $1.2bn
Severstal, Russia's largest steelmaker, posted a fourth-quarter net loss of $1.2bn after writing down $411m of inventories and taking an impairment charge of $1.5bn on assets.

RZD gets equipment for Sochi link
Russian Railways on Wednesday received its first delivery of equipment for a 260bn ruble ($7.4 bn) transportation link between Sochi and Krasnaya Polyana, considered the hardest part of the 2014 Olympics preparations.


Front page

Germany shocked by teenager's killing spree
Germany was in shock on Wednesday after a 17-year-old youth killed 15 people in a shooting rampage that began at his school, where he shot dead 10 pupils and three teachers. He later took a gun to his own head during a shootout with police.

Austria feels pinch of Eastern European downturn
Major Vienna banks wanted to capture the Eastern European market and benefit from its growth. Now they are waking up to the hangover caused by what could end up being a series of bad loans.


Front page

Make up your dam mind, say Hasankeyf locals
More than five decades have passed since the building of a dam at Hasankeyf was first proposed and local residents are growing tired of their unending dilemma.

New indictment added to coup file
A 1,909-page add-on indictment in the Ergenekon investigation is released and includes 56 additional suspects, 21 of whom are already under arrest.

Business and finance

Doğan puts up stakes in TV channels as collateral
The Doğan Media Group, or DMG, Turkey’s biggest media company, said it has put up 1.08bn Turkish Liras, or $614m, as collateral in a tax dispute with the government.

Turkish pension fund puts shopping on hold
Turkish conglomerate Oyak plans to hang on to its $3bn cash pile for now rather than shopping for assets, because the global economic downturn still has further to run, its chief executive said on Tuesday.


Front page

EBRD to buy undisclosed stake in PKP
Rail carrier PKP IC is looking for an investor and its management board is negotiating terms with the European Bank for Reconstruction and Development (EBRD) concerning the purchase of some of its shares.

Ex-concentration camp guard charged 11th March 2009
Retired mechanic John Demjanjuk has been charged with over 29,000 counts of accessory to murder by a Berlin court.

By: Staff Reporter
+44 20 8652 3214

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