In Tuesday's Europe papers

09 June 2009 05:30  [Source: ICIS news]

FINANCIAL TIMES

Front page

Brown fights off Labour rebels
Gordon Brown routed an attempted coup to remove him as Britain’s prime minister on Monday night, as party heavyweights rallied behind him after a week of Labour bloodletting, ministerial resignations and poll defeats.

Qatar wealth fund in talks over Porsche stake
Porsche is in advanced talks about selling a large stake to the Gulf state of Qatar that could ease the sports car maker’s financial pain and turn the tables in its feud with Volkswagen.

Companies and markets

Supreme Court delays Chrysler sale
Chrysler suffered a last-minute setback to its hopes of a speedy restructuring on Monday after the US Supreme Court delayed the sale of the bankrupt carmaker to a group led by Italy’s Fiat.

Overview: Treasury yields rise further on rate talks
US government bond yields and mortgage rates reached fresh seven-month highs on Monday as interest rate futures continued to discount a near-term rise in the Fed funds rate in the wake of Friday’s US employment report.

INTERNATIONAL HERALD TRIBUNE

Front page

Economy shows cracks in European Union
European leaders, preoccupied with domestic politics, are fighting over how to combat the economic slump, protecting jobs at home at the expense of fellow members.

In Lebanese election, hopeful signs for US
There were many domestic reasons voters handed an American-backed coalition a victory in Lebanese parliamentary elections on Sunday - but political analysts also attribute it in part to President Obama’s campaign of outreach to the Arab and Muslim world.

Business

Supreme Court delays sale of Chrysler to Fiat
The Supreme Court agreed to delay the sale of most of Chrysler’s assets to Fiat pending consideration of an appeal by three Indiana state funds, injecting new uncertainty into the bankruptcy case.

High gas prices could slow recovery
The national jump in prices is far larger than the normal seasonal increase and threatens to curtail a modest recovery in consumer spending on items like apparel and electronics.

THE MOSCOW TIMES

Front page

Telenor’s CEO warns VimpelCom
VimpelCom will miss opportunities to offer new mobile-phone services at home and to expand in Asia if Telenor is forced out as a shareholder in an ongoing court battle, Telenor’s chief executive told The Moscow Times.

Billionaire Senator cannot get Canadian visa
Canada has refused to give a visa to Federation Council Senator Vitaly Malkin for more than a decade, claiming that the billionaire has links to organised crime, according to public records of the Canadian Federal Court.

Business

Car sales fall 58% in May to new low
The collapse in car sales on the Russian market failed to find a bottom in May, plunging 58% to demonstrate that state efforts have failed to spark a recovery, the Association of European Businesses said on Monday.

Soviet bomb shelters find modern use
One of the old bomb shelters is now a fish cannery. Another has just been turned into a high-tech data storage centre. Yet another is a museum.

DER SPIEGEL

Front page

Will the Real SPD please stand up?
Germany’s Social Democrats in recent years have fought hard to re-establish themselves as a party for working-class Germans. Sunday’s European election results show that they have not been successful.

Obama’s offer to the Islamic world
With his speech in Cairo, the new US president sought to awaken a global community that has been paralysed by conflict.

HURRIYET DAILY NEWS

Front page

Turkey challenged by EU vote results
A decisive victory for the right wing in the European Parliament creates concern about the future of Turkey’s bid for EU membership and the path Europe is likely to take in the next five years.

Ethnic politics an affront, says DTP
Engaging in politics based on ethnicity is a betrayal of the memories of those who sacrificed their lives to keep foreign powers from dividing the country in the years just before the creation of the Republic, says the DTP’s Sirri Sakik.

Business and finance

Govt ponders an IMF-free future
Deputy PM and Economy Minister Ali Babacan says for the first time that Turkey is preparing for a future ‘with or without lending’ from the International Monetary Fund.

A new approach to the prepaid market
Focusing on prepaid services and electronic payment systems, Prepay Solutions aims to make life easier.

WARSAW BUSINESS JOURNAL

Front page

Civic Platform wins EP elections, Pis comes distant second

The ruling Civic Platform party won a decisive victory in the European Parliament elections, taking 44.39% of votes and securing 25 seats in the EU’s legislative body, according to preliminary results data announced by the National Election Commission.

2010 budget deficit will be a bitter pill to swallow
The Finance Ministry will today present the Prime Minister the foundations of the 2010 budget.

By: Staff Reporter
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