In Tuesday's Europe papers

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

FINANCIAL TIMES

Front page

Madoff sentenced to 150 years in prison
Cheers erupted in the Manhattan federal courthouse on Monday as Bernard Madoff was sentenced to 150 years in prison, the maximum possible under law, for running a $65bn Ponzi scheme that has devastated thousands of investors around the world.

Victims have their moment but the suffering goes on
It was, taken literally, an absurd jail sentence: one of more than life, one reaching well into the grave.

Companies and markets

Questions linger over $65bn fraud
The 150-year sentence handed down to Bernard Madoff closes just one chapter in the story behind one of the biggest, most shocking investment frauds in history.

Doughty investors dip their toes in the water
US and European equities on Monday recouped some of their losses, although market activity was light ahead of a string of important data releases and a holiday weekend in the US.

INTERNATIONAL HERALD TRIBUNE

Front page

In a coup in Honduras, ghosts of past US policies
The crisis in Honduras, where the US has a history of backing rival political factions, is pitting President Obama against the legacy of American foreign policy.

Anger lingers as US leaves Iraqi district
American soldiers waited before going out in Ghazaliya, Baghdad, where results of the US "surge" are evident but sectarian tensions remain.

Business

Madoff is sentenced to 150 years for Ponzi scheme
A federal judge sentenced Bernard L Madoff to 150 years in prison for running a huge Ponzi scheme that devastated thousands of investors, calling his crimes "extraordinarily evil."

GM exits venture with Toyota
General Motors said it was pulling out of its joint venture with Toyota, a longstanding partnership that exposed GM to more efficient Japanese manufacturing techniques.

THE MOSCOW TIMES

Front page

Putin orders banks to lend $13bn
He also considers raising taxes next year on natural gas extraction, tobacco, alcohol and gasoline to plug a budget deficit.

Clock ticking down on the gambling ban
About 4,500 people dropped in on the EELEX International gaming industry exhibition last year.

Business

Gazprom gets priority for Azeri gas
Gazprom and Socar signed a deal on Monday giving the Russian company first rights to Azeri gas previously seen as reserved for the Nabucco pipeline, capping President Dmitry Medvedev's "short but intensive" visit to Baku.

VTB plans layoffs as bad loans swell
VTB Group may lay off as many as 1,000 employees at its retail banking operations as overdue loans threaten to reach 8% of its portfolio, executives said on Monday at the annual shareholders meeting.

DER SPIEGEL

Front page

Election violence upsets Berlin's stance on Iran
The German government is divided over how to react to the brutal suppression of protests by the regime in Tehran.

Do poor weapons hinder Germany in Afghanistan?
German soldiers in Afghanistan are seeing more action than ever, resulting in more deaths and injuries.

HURRIYET DAILY NEWS

Front page

US troops depart from Iraq cities
Iraqi security forces shoulder the responsibility for the safety of the country as the US military pulls back from urban centres as of today.

PM, Başbuğ meet as tension grows
No official statement is made after a meeting between the prime minister and the top general, but the justice minister's presence has led to speculation that legislation restricting the powers of military courts was also discussed.

Business and finance

Doğan taps into northern Iraq resources
Doğan Enerji acquires 50% of the shares of two companies formed to tap into Iraqi oil.

Arab tourists flock to shopping centres
Not many Turkish citizens can afford to go on a shopping spree nowadays, as they have to watch each penny they spend.

WARSAW BUSINESS JOURNAL

Front page

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By: Staff Reporter
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