In Wednesday's Europe papers

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

FINANCIAL TIMES

Front page

Darling to issue £200bn of bonds

Alistair Darling will be forced to issue more than £200bn worth of government bonds this financial year – well above market expectations – as he concedes in Wednesday’s Budget that the public finances have plunged deeply into the red.

Chancellor in £1bn drive to cut dole queues
A £1bn 1980s-style community work programme to take young people off the dole and a watered-down plan to help car workers will be announced by Alistair Darling as he sets out what allies claim will be a "Budget for jobs".

Companies and markets

Tesco annual profits top £3bn

Tesco on Tuesday reported a 10% rise in underlying annual pre-tax profits to £3.13bn, as strong growth from Asia supported its more mature British operations.

LVMH eyes sale of Moët to Diageo
LVMH has indicated it may be willing to sell some or all of its two-thirds stake in Moët Hennessy, its wine and spirits business, to partner Diageo, say people close to the matter.

INTERNATIONAL HERALD TRIBUNE

Front page

In adopting harsh tactics, no inquiry into their past use
Top officials involved in the adoption of brutal interrogation methods did not investigate the origins of the methods they approved with little debate.

Report gives new detail on approval of brutal techniques
A Senate report offered evidence that the military’s harsh interrogations of terrorism suspects were authorised at high levels of the Bush administration.

Marketplace

In China, GM remains a driving force

Ford may be standing taller than General Motors in Detroit these days — flush with cash while its rival is forced to go repeatedly to Washington, hat in hand, seeking government bailouts. But in China the tables are turned.

Report details broad scope of fraud at Satyam
Details of the investigation could bolster a string of class-action suits pending against Satyam managers and auditors.

THE MOSCOW TIMES

Front page

FSB busts 'Georgian spy ring' in Sochi

A businessman running an Internet cafe in Sochi has been exposed as the leader of a Georgian spy ring, the Federal Security Service said on Tuesday.

Ex-Yukos lawyer granted parole
A Moscow court on Tuesday granted parole to former Yukos lawyer Svetlana Bakhmina, a mother of three whom supporters call a political prisoner ensnared in authorities’ attack on what was once the country’s leading oil company.

Business

RusAl saves $554m on costs, production
United Company RusAl said on Tuesday that it slashed costs by $554m in the first quarter, half of what it had planned to save for the whole year, but workers said they thought that the reductions were taking a toll on efficiency and safety.

Public says farmers need the most help
Agriculture is the most crucial sector, 72% of respondents say.

DER SPIEGEL

Front page

Toxic waste urgently seeking dump
The German government is hosting talks with banking supervisors about what to do about the hundreds of billions of euros of toxic assets still left in the banks' balance sheets.

Soweto's young middle class left cold by ANC
The African National Congress is expected to win Wednesday's election in South Africa with leader Jacob Zuma enjoying huge popularity among the poor, despite his corrupt reputation.

HURRIYET DAILY NEWS

Front page

Turkey’s Dogan says ban "an infringement against press freedom"
A ban on the entry of fuel retailer Petrol Ofisi into state tenders, expanded to include all companies under the umbrella of Dogan Holding, is an assault on press freedom, the company charged in a statement on Tuesday.

Tourists see Turkey as ideal holiday spot
Turkey is an ideal family holiday location. It offers a reliable climate, beach resorts, good quality accommodation, water sports and land-based activities, all at a lower cost compared to Western Europe.

Business and finance

Cash from credit card as last resort
Survival is the name of the game for households. Thousands of Turkish people resort to withdrawing cash from their credit cards, as they have no other means to obtain money to foot their bills.

Tefal to open new stores
Groupe SEB, the French household appliances giant, plans to open four new small household appliances shops in Turkey this year.

WARSAW BUSINESS JOURNAL

Front page

KGHM reevaluating budget
Poland's largest copper miner, KGHM, might raise its budget forecast for 2009, the group said on Monday.

Another PiS MP jumps ship
Wojciech Mojzesowicz, a Law and Justice (PiS) MP, has decided to hand in his party membership.


By: Staff Reporter
+44 20 8652 3214



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