In Tuesday's Europe papers

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

FINANCIAL TIMES

Front page

Fink warns on EU hedge fund rules
The adoption of tough European restrictions on hedge funds would provoke a transatlantic regulatory war, one of the sector’s leading figures has warned.

Obama and Medvedev agree arms cuts
The US and Russia on Monday pledged to make big cuts in their strategic nuclear arsenals and pursue closer ties but failed to settle their most serious dispute, a row over US plans to install an anti-missile defence system in eastern Europe.

Companies and markets

BAIC plans Opel China plant
Beijing Automotive Industry Corporation aims rapidly to expand its operations in China if it wins the race to acquire General Motors’ Opel business in Europe.

Overview: Doubts persist over strength of rebound
Equities, emerging markets and commodities, led by oil prices hitting a five-week low, extended their run of losses, boosting the dollar and the yen.

INTERNATIONAL HERALD TRIBUNE

Front page

China locks down restive region after deadly clashes
The Chinese government imposed curfews and sent armed police officers into neighbourhoods after clashes between Muslim Uighurs and Han Chinese.

US and Russia take step to cut nuclear arms
President Obama and President Dmitri A Medvedev announced a preliminary agreement on cutting their stockpiles of nuclear weapons.

Marketplace

France, unlike US, is deep into work on stimulus projects
France plans to spend 75% of its stimulus money this year; the US is unlikely to accomplish that until late 2010.

Too precious for a recession
Consumers are spending less on jewelry, and the industry is feeling the pinch.

THE MOSCOW TIMES

Front page

Obama, Medvedev will cut stockpiles
Presidents Barack Obama and Dmitry Medvedev announced substantial progress in crucial nuclear arms talks and on military cooperation after their much-anticipated first summit in the Kremlin on Monday.

Obama welcomed with a photo album
US President Barack Obama may not want to remember his first visit to Russia in 2005, when an airport dispute grounded his plane for three hours, but President Dmitry Medvedev gave him a memento of that visit anyway on Monday.

Business

Rusnano pledges to fund youth projects
The Federal Agency for Youth Affairs said on Monday that the Russian Nanotechnology Corporation would co-finance four projects proposed by participants at the Seliger youth forum, although Rusnano later warned the young innovators that it was still too early to celebrate.

US businesses arrive with Obama
Deere & Co, PepsiCo and Boeing are among the major US businesses providing the economic backdrop for US President Barack Obama’s visit this week, with executives meeting government officials and talking up their Russian investment plans.

DER SPIEGEL

Front page

'The Russians never warmed to the reset idea'
During his visit to Moscow this week, Barack Obama wants to hit the reset button on US-Russian relations.

'Obama is like a chess player'
Former US Secretary of State Henry Kissinger, 86, discusses the painful lessons of the Treaty of Versailles, idealism in politics and Obama's opportunity to forge a peaceful American foreign policy.

HURRIYET DAILY NEWS

Front page

Imported nannies join black market
Whether to watch over a child or care for an elderly person, black market nannies, who are mostly women from former Soviet republics, are coming to Turkey in search of work and offering bargain wages.

Dozens killed in riots across Uighur region
China said on Monday that at least 140 people were killed in ethnic rioting in the capital of Xinjiang province and blamed overseas Uighur groups for the violence.

Business and finance

Turk banks’ profit rally to slow down
As the Central Bank hints that the latest interest rate cut in June may be the last one, banking sector’s profitability may be negatively impacted.

China takes a step against greenback
Taking a first step against the dollarisation of trade, three Chinese firms decide to settle import and export contracts in yuans, instead of dollars.

WARSAW BUSINESS JOURNAL

Front page

Obama arrives in Moscow
The American and Russian presidents are set to discuss the US missile shield in Poland.

Poll: Support for euro adoption decreases
Almost 50% of the public believe that the government should slow down plans for switching to the euro.

By: Staff Reporter
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