In Wednesday's Europe papers

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

FINANCIAL TIMES

Front page

UK faces broadband tax
Millions of households will pay a "broadband tax" to subsidise the roll-out of superfast telecoms networks, as part of the government’s ambitions to equip the nation with a 21st century communications infrastructure.

Darling warns banks of crackdown
Alistair Darling, chancellor, is to warn the City to expect further regulation and a crackdown on sloppy boardroom practices, amid fears in the Treasury that some bankers are forgetting the lessons of the financial crash.

Companies and markets

US banks to break free of state assistance
JPMorgan Chase and Morgan Stanley will no longer issue government-guaranteed bonds in an effort to sever their financial ties to the US authorities and show investors they can fund themselves without Washington’s help.

Overview: Upbeat signs fail to cheer investors
Major equity markets came under pressure on Tuesday and initial gains for commodities eroded as investors cast doubt over the global economic outlook.

INTERNATIONAL HERALD TRIBUNE

Front page

US steps gingerly into tumult in Iran
The Obama administration says it has tried to avoid words or deeds that could be portrayed as American meddling in Iran’s presidential election and its tumultuous aftermath.

Europe fears end of incentives will dent car sales
As a cash-for-clunkers programme is considered by Congress, European carmakers say they are worried about the impact of weaning themselves off similar incentives when they expire this year.

Business

Obama sought to enlist a wide consensus on finance rules
President Obama’s plan to reshape financial regulation, which he will unveil on Wednesday, is the product of weeks of meetings among government officials, financial experts, lawmakers, industry executives and lobbyists, many of whom were invited to help the White House draft the proposal.

Foreign banks see opportunity in US turmoil
Wall Street’s great investment houses have never faced a serious foreign challenge in their own backyard. But as tectonic shifts reverberate through the banking industry, their overseas rivals are edging into some of the most lucrative corners of American finance.

THE MOSCOW TIMES

Front page

BRIC leaders seek a greater voice
President Dmitry Medvedev led the leaders of Brazil, China and India in discussions on Tuesday on reforming the global financial system and lessening reliance on the United States at the first summit of the world’s four largest emerging economies.

SCO endorses Iranian president's re-election
Leaders wrapped up a Shanghai Cooperation Organisation summit on Tuesday with a whirl of activity: They congratulated Iranian President Mahmoud Ahmadinejad on his re-election; signed a declaration affirming a multipolar world; rebuked North Korea; promised to help Afghanistan; and pledged to allow more members into their circle.

Business

Gazprom units move into UES office
Gazprom chief Alexei Miller on Tuesday unveiled the new headquarters for his company’s electricity assets, situated in the office of former power monopoly Unified Energy System.

Investors wary over governance quality
Corporate governance standards are deteriorating as companies stop holding initial public offerings amid the economic crisis, investors said on Tuesday.

DER SPIEGEL

Front page

How long can Israel resist US pressure?
As US President Barack Obama presses ahead with his Middle East peace intiatives, America’s new tone and new modesty are going down well in the region.

Two German nurses probably dead in Yemen
The German government now believes that two German nurses were among those found dead in Yemen.

HURRIYET DAILY NEWS

Front page

Swords lowered in ‘plan’ standoff
After the prime minister and the top military official meet, Prime Minister Erdoğan says he is happy with the way the army handled the inquiry into the source of an alleged military plan to dismantle Erdoğan’s Justice and Development Party.

Mayors’ naked ambition to cover up nudes
Turkish mayors’ love-hate relationship with nude statues continued this week, with one mayor in the country’s east reportedly removing three sculptures while another in the south was said to have relocated one that he had removed earlier.

Business and finance

Gov’t optimistic, works on new map
Economy Minister Ali Babacan says the government is working on a mid-term economic programme, without mentioning the International Monetary Fund.

Russia and China in search of clout
Russia - China announces at the Shanghai Cooperation Organisation summit that it will extend a $10bn loan to the organisation’s members, while the Russian leader calls for a change in the dollar’s status as global reserve currency.

WARSAW BUSINESS JOURNAL

Front page

Lewandowski chosen to replace Hübner for EC post
Janusz Lewandowski has been chosen to replace Danuta Hübner as European Commissioner for Regional Policy, and is expected to hand in his MEP mandate shortly.

Ministerial visit aims to boost infrastructure investment in Poland
Infrastructure Minister Cezary Grabarczyk is on a two-day visit to Beijing to encourage Chinese investors to support the Polish railway sector and road construction.

By: Staff Reporter
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