In Tuesday's Europe papers

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

FINANCIAL TIMES

Front page

Pessimistic executives cash out of shares
Growing pessimism about the prospects for a global economic recovery sent stock and commodity prices tumbling on Monday while new data showed that leading US corporate executives were cashing out of their share holdings at a rapid pace.

Anglo rejects Xstrata merger offer
Anglo American, the global mining group, on Monday night flatly rejected Xstrata’s proposed all-share "merger of equals", putting itself at odds with several big investors as it labelled the offer from its Anglo-Swiss rival "totally unacceptable".

Companies and markets

SEC files suit against Madoff broker
The US Securities and Exchange Commission on Monday launched its first action against the big "feeders" that channelled billions of dollars to Bernard Madoff, accusing a New York broker dealer and four individuals of enabling his Ponzi scheme to continue for decades.

Recession worries rattle world markets
Equities, commodities and emerging market currencies suffered hefty losses on Monday as risk averse investors shifted to the perceived safety of the dollar, the yen and government bonds.

INTERNATIONAL HERALD TRIBUNE

Front page

Web pries lid of censorship by Iranian government
Shortly after Neda Agha-Soltan bled her life out on the Tehran pavement, the man whose 40-second video of her death has ricocheted around the world made a somber calculation in what has become the cat-and-mouse game of evading Iran’s censors.

Mexicans cry for justice in day care fire
As smoke and fire filled the ABC day care centre in northern Mexico, a neighbour moved quickly. Ramming his pickup truck into the concrete again and again, he gouged three holes in the front wall to clear an escape route for the children trapped inside.

Business

Family loyalty anchors Ford in risky times
They met in late January at a nondescript conference centre near the Ford Motor Company’s headquarters, just as they have every three months for the last 20 years.

Four people and firm sued in Madoff case
Three lawsuits filed on Monday provided new details about what regulators say went on inside Bernard L Madoff’s long-running Ponzi scheme, including information about who might have helped perpetuate the fraud for so long.

THE MOSCOW TIMES

Front page

Ingush leader injured in car bomb
Ingush President Yunus-Bek Yevkurov suffered serious injuries on Monday when a car bomber blew up his vehicle near a presidential motorcade in the region’s main city, Nazran.

Medvedev trip looks to secure Africa’s riches
President Dmitry Medvedev is embarking on Tuesday on a four-day African tour, beginning with a visit to Egyptian President Hosni Mubarak before moving on to Nigeria, Namibia and Angola.

Business

MICEX back in bear territory
The MICEX tumbled more than 20% from its 2009 peak on Monday, becoming the world’s first benchmark equity index to enter a bear market since global stocks began rallying in March.

Banks offer more loan restructuring
Banks have restructured about 5% of mortgage loans on their own.

DER SPIEGEL

Front page

Is war between Iran and Israel inevitable?
Israeli Prime Minister Benjamin Netanyahu and Iranian President Mahmoud Ahmadinejad may seem very different, but they are united in their apocalyptic religious visions.

Neda becomes a symbol of the protests
She sinks to the ground – and a few minutes later she is dead. A video that has been repeatedly posted on the Internet purports to show the last moments of Neda, a young Iranian woman shot in the heart by government sharpshooters.

HURRIYET DAILY NEWS

Front page

World Bank sees future in a dump
The notoriously foul Mamak landfill is now the source of heat and energy for greenhouses outside Ankara thanks to aid from the World Bank and a garbage-recycling station. If Turkey can focus on alternative energy sources, it could create more jobs, says a World Bank deputy chief.

FM urges Iranians to accept election
Breaking a week’s silence on the deadly rift in Iran following the recent controversial events, Turkey has contradicted the Western position and advised Iranian people not to overshadow "the dynamic and well-attended" political elections.

Business and finance

Stock exchange the place to invest
Noting the recent rally in Turkish stocks, analysts advise investors to give more weight to equities in their portfolios.

Global economy to sink deep, World Bank says
Despite optimistic reports from the International Monetary Fund, the World Bank remains pessimistic on the global economy.

WARSAW BUSINESS JOURNAL

Front page

Tusk has competitor for the Presidency?
One year ahead of the Presidential elections, opinion polls give Donald Tusk an enormous lead over other candidates and the only significant rival might be Jolanta Kwaśniewska.

Toxic waste hinders construction of Baltic Arena Stadium
According to Rzeczpospolita, construction of the Baltic Arena Stadium could be delayed by several months and cost up to zł.10m more.

By: Staff Reporter
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