In Friday's Europe papers

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

FINANCIAL TIMES

Front page

Glencore explores market flotation
Glencore, the publicity-averse trading house renowned for its far-reaching influence on global commodity markets, is exploring a stock market flotation.

Switzerland looks at cutting size of banks
Switzerland upped the ante in a global regulatory assault on the banking industry on Thursday as its central bank warned that Zurich was examining the forced shrinkage of banking groups such as UBS and Credit Suisse to contain the risks posed by their size.

Companies and markets

Stanford surrenders to US authorities
Sir Allen Stanford, the Texan billionaire, has surrendered to authorities and will face criminal charges on Friday tied to an alleged fraud involving certificates of deposit issued by his Antigua bank, his lawyer said.

Overview: Bulls see signs of green shoots
Equity bulls finally found something to cheer about on Thursday as a solid round of US data releases and upbeat comments about China rekindled optimism that the worst of the global recession might be over.

INTERNATIONAL HERALD TRIBUNE

Front page

As confrontation deepens, Iran’s path is unclear
As another day of defiance, concessions and ominous threats transfixed Iran’s capital, it was increasingly apparent on Thursday that there was no clear path out of a deepening confrontation that has posed the most serious challenge to the Islamic republic in its 30-year history.

In England, a royal taste that alters the landscape
Even people who believe that the royal family should be seen and not heard have to admit that when it comes to contemporary architecture, Prince Charles has a robust talent for imaginative insults.

Business

Senators skeptical of plan to overhaul financial regulation
President Obama’s plan to overhaul the regulatory structure of the nation’s financial system faces formidable obstacles on Capitol Hill, if the reception accorded Timothy F Geithner, the Treasury secretary, on Thursday was any indication.

Cutting off mom & pop credit
Louis Licata has shelved plans to hire three more employees for his Cleveland law firm. Jeannie Macone, of Florida, is cutting back on inventory for her trinket and home décor business.

THE MOSCOW TIMES

Front page

Luzhkov, a market and a $2bn haul
Last September, a police raid on Moscow’s sprawling Cherkizovsky Market resulted in the confiscation of 6,000 containers of purportedly pirated and smuggled goods from China worth $2bn – the biggest haul of contraband in Russia’s history.

Medvedev looks to harness young IT talent
An IT company’s sterile white offices are not the typical venue for a Kremlin meeting. But they seemed quite fitting for the launch of President Dmitry Medvedev’s newest commission on Thursday.

Business

Mechel makes play for coke market
The company reopens three coke batteries outside Moscow in an attempt to snap up greater market share.

Carrefour opens first Russian store
French retail giant Carrefour opened its first Russian store on Thursday, hoping to become a leading player despite a late arrival on the domestic market.

DER SPIEGEL

Front page

Europe must stand in solidarity with Iranian protesters
The fate of today’s Iranian protest movement is impossible to predict. Its relationship to the state and religion differs from the movement that led to communism’s collapse in Eastern Europe, but Europeans must take their own history seriously and show their solidarity with the protesters.

New report says world is warming faster than thought
Is climate change beyond our control? Respected geo-researchers have presented a new prognosis for the global increase in temperature.

HURRIYET DAILY NEWS

Front page

EU envoy says Turkey takes "tactical step backwards" on Armenia thaw
Turkey has taken a "tactical step backwards" on normalising relations with Armenia because of fierce domestic reaction to the move, the EU’s envoy to the region told Reuters in an interview published on Wednesday.

Turkish Cypriot leader urges for a deal before presidential elections
Turkish Cypriot leader Mehmet Ali Talat said the pace of slow-moving talks to reunify the divided Mediterranean island of Cyprus must speed up to secure a deal before he faces possible ouster in next year's presidential elections.

Business and finance

Fitch blames economists for not upgrading Turkey’s rating
Fitch, an international rating agency, blamed economists for keeping Turkey’s credit rating at the existing level despite improvements in the economy, saying investment bankers share their negative views behind the closed doors.

Central Bank cuts key rate, urges discipline
Exceeding market expectations, the Central Bank cuts its overnight borrowing rate to 8.75%, a record low.

WARSAW BUSINESS JOURNAL

Front page

Science fiction?
Poland could match the economies of the "old" European Union member states in around two decades, according to a government report presented by Prime Minister Donald Tusk on Wednesday.

Public picks Sejm Speaker to head future govt
If Prime Minister Donald Tusk wins next year’s presidential election, the public would most like Sejm Speaker Bronisław Komorowski or former PM Jerzy Buzek to succeed him, according to a Rzeczpospolita poll conduced by GfK Polonia.

By: Staff Reporter
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