In Monday's Europe papers

06 July 2009 05:30  [Source: ICIS news]

FINANCIAL TIMES

Front page

G8 shifts focus from food aid to farming
The G8 countries will this week announce a "food security initiative", committing more than $12bn for agricultural development over the next three years, in a move that signals a further shift from food aid to long-term investments in farming.

Securitisation reinvented to cut costs
Investment banks, including Goldman Sachs and Barclays Capital, are inventing schemes to reduce the capital cost of risky assets on banks’ balance sheets, in the latest sign that financial market innovation is far from dead.

Companies and markets

UBS to shake up US brokerage
Oswald Grübel, UBS’s chief executive, wants to shake up the top managerial ranks of the embattled bank’s brokerage business in the US after deciding against a sale, according to people familiar with the matter.

US services data may fan optimism
Last week US non-farm payrolls crashed through the consensus estimate with nearly 100,000 more jobs lost in June than had been expected.

INTERNATIONAL HERALD TRIBUNE

Front page

Violent clashes in Honduras as ex-president’s return blocked
Manuel Zelaya swept over Honduras as crowds of his supporters clashed with soldiers and riot police at the airport, but his plane veered away, blocked by the interim government.

Despite crisis, US policy on Iran is engagement
President Obama and Vice President Joseph R Biden Jr said separately that the crackdown in Iran would not close the door on talks.

Marketplace

Volatile swings for price of oil hobble industry
From $145 a barrel a year ago to $33 in December, oil prices lately have surprised analysts by climbing despite the undertow of a global recession.

PartnerRe buys Paris re in stock deal
A reinsurer based in Bermuda buys another based in Paris to become a company with $23bn in assets.

THE MOSCOW TIMES

Front page

Kremlin rolls out carpet for Obama
US President Barack Obama offered praise for President Dmitry Medvedev and took a dig at Prime Minister Vladimir Putin on the eve of his visit to Moscow - and the Russian government said it was still eagerly rolling out the red carpet.

Nine Chechen policemen slain as violence flares
An unusually large number of attacks have roiled the North Caucasus in recent weeks, including a bloody ambush on Saturday that killed at least nine Chechen police officers in Ingushetia, raising new fears that the situation is spiraling out of control in the restive region.

Business

Kremlin plays coy on agenda for G8 summit
A top Medvedev aide says his plans for the meeting will be announced on Tuesday after his talks with US President Barack Obama.

Market watchers size up correction
After a dismal 2008, equity markets soared in the first half of this year only to be pulled back to earth in June.

DER SPIEGEL

Front page

Majority of eastern Germans feel life better under Communism
Glorification of the German Democratic Republic is on the rise two decades after the Berlin Wall fell.

Europe's poorest country heads for the polls
Boyko Borisov, a former bodyguard, is the frontrunner in Bulgaria's national elections on Sunday. He insists that his goal is to finally clean up corruption in the European Union's poorest member state.

HURRIYET DAILY NEWS

Front page

Soldiers balk at facing civil courts
Military officials object to new legislation that sets the rules governing the functioning of the military judiciary, saying it runs counter to the Constitution.

Orthodox Patriarchs in show of harmony
Newly elected Russian Orthodox Patriarch Kirill led on Sunday prayers with the Greek Orthodox Patriarch Bartholomew in Istanbul in a show of unity between the two churches.

Business and finance

Unions urge president to veto new labour code
A controversial new labour law is raising plenty of eyebrows. If approved by the Turkish president, 'Private Labour Offices' will be created to hire temporary workers for firms.

Small Austrian town exports energy model
Guessing, a small town in Austria, is reaping the fruits of foreseeing the renewable energy boom in the early 1990s.

By: Staff Reporter
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