In Wednesday's Europe papers

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

FINANCIAL TIMES

Front page

Darling to crack down on riskiest banks
Alistair Darling will outline a tough regulatory regime on Wednesday for the financial services industry that would impose heavier capital and liquidity standards on banks that pose the greatest risk to the financial system.

Hu quits G8 trip to tackle Xinjiang crisis
Hu Jintao, the Chinese president, on Wednesday cut short his visit to Italy, where he was planning to attend the annual Group of Eight summit of world leaders, three days after the worst ethnic unrest in China since the Cultural Revolution erupted in the Muslim-dominated Xinjiang autonomous region.

Companies and markets

Four Rio Tinto staff detained in China
Four employees of the Anglo-Australian mining group have been detained in China without explanation, raising tensions as the company is locked in negotiations over iron ore prices.

Overview: Uncertainty over outlook takes toll
Risk aversion boosted support for the yen and dollar, while US government bonds rallied.

INTERNATIONAL HERALD TRIBUNE

Front page

As Iran calms, a struggle for political power intensifies
Among Iran’s elite, there is growing unease that the system they rely on for power and privilege has been stripped of its legitimacy.

As US shifts on climate, qualms in Europe remain
The European hosts of the G8 meeting welcome America’s newly assertive stance, but fear the US will strike an independent deal with China.

Marketplace

US considers curbs on speculative trading of oil
Reacting to recent swings in oil prices, federal regulators said on Tuesday that they were considering limits on "speculative" traders in markets for oil and other energy products.

German industrial output gains as Britain’s falters
Analysts hope the worst may be over for the manufacturing sectors of Britain and Germany.

THE MOSCOW TIMES

Front page

Obama charts path to bolster trade
US President Barack Obama on Tuesday said making good on a Kremlin promise to promote the rule of law would be a vital step towards boosting trade between US and Russian companies.

Landmark speech reaches out to the masses
In a landmark speech to Russian students on Tuesday afternoon, US President Barack Obama called for Russia and the United States to focus on their common interests and end zero-sum politics.

Business

Putin, union boss discuss Opel bid
Prime Minister Vladimir Putin met with Berthold Huber, president of Germany’s IG Metall labour union, in Moscow on Tuesday in an attempt to drum up support for a Sberbank-backed bid to acquire carmaker Opel.

Dvorkovich downplays dollar focus for G8
Russia’s agenda at the Group of Eight summit will include international disaster relief, North Korea and the Middle East, but President Dmitry Medvedev will make little mention of new reserve currencies, his economic aide Arkady Dvorkovich said on Tuesday.

DER SPIEGEL

Front page

Chants of 'Death to Uighurs' echo around Urumqi
Women are crying, civilians have armed themselves with clubs and axes. Fear and chaos rule in Urumqi.

Little real progress expected in L'Aquila
The leaders of the Group of Eight leading industrial nations will meet in the earthquake-hit Italian town of L'Aquila from Wednesday to discuss the global financial crisis and climate change.

HURRIYET DAILY NEWS

Front page

Euro funding for dam withdrawn
The European consortium involved in the Ilisu dam project in southeastern Turkey denies for the last time funding for environmental and cultural reasons.

Turkey following Uighur riots closely
As the tension heightened by riots in China’s northwest Xinjiang region that has left at least 156 people dead lingers, Turkey is closely following the developments and working on means for a peaceful solution.

Business and finance

Farmers in Bandirma turn fields into money
Bandirma, one of Turkey's most prominent spots in terms of wind potential, has been attracting many energy investors.

Rising debt causes global power shift
Meeting today, prominent members of the G8 grouping see their power waning as emerging economies advance their positions during the destructive recession.

WARSAW BUSINESS JOURNAL

Front page

Buzek announced as EPP candidate for EP head
Jerzy Buzek has officially been nominated by the European People's Party (EPP) as their candidate for the next head of the European Parliament.

Scientists discover revolutionary fuel from CO2
Chemistry scientists from Lublin have found a way to produce cheap and ecological fuel on a mass scale.

By: Staff Reporter
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