In Thursday's Europe papers

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

FINANCIAL TIMES

Front page

Nationwide offers 125% mortgage
Negative equity mortgages are being offered to customers of Nationwide that will allow homeowners once again to borrow more than the value of their intended house purchase.

AIG in talks with MetLife over Alico
AIG has rekindled talks with MetLife, its US rival, over the sale of American Life Insurance Company, one of the jewels in its crown, in a move that could help the stricken insurer raise more than $15bn to repay the $80bn it currently owes US taxpayers.

Companies and markets

Rio employee held on suspicion of spying
An Australian employee of Rio Tinto, the Anglo-Australian mining group, has been detained by Chinese officials on suspicion of espionage and stealing state secrets, a move that could stoke tension between the two countries.

Overview: Risk-averse investors push yen to high
A late rebound on Wall Street failed to stem an escalation of risk aversion across global markets, which boosted the yen and government bonds and weighed on commodities.

INTERNATIONAL HERALD TRIBUNE

Front page

Poor migrants describe grief from China’s ethnic strife
The killing of a son in ethnic riots was a ruinous end to the journey of a family trying to forge a new life in Xinjiang Province, China’s remote desert region.

Poorer nations reject a target on emission cut
The lack of consensus on cuts in heat-trapping gases at the Group of 8 talks underscored the divisions between developed and developing nations.

Marketplace

China detains mining executive on spy charge, Australia says
An executive with Rio Tinto, one of the world’s biggest mining companies, could be charged with espionage, the Australian government said.

Blowout ratings for a farewell, online and off
On television and on the Internet, tens of millions of viewers tuned into Michael Jackson’s star-studded memorial service, making it one of the most-watched farewells in history.

THE MOSCOW TIMES

Front page

Aeroflot accused of unfair pricing
The Federal Anti-Monopoly Service on Wednesday accused Aeroflot of illegally inflating its ticket prices on flights between Krasnoyarsk and Norilsk and ordered the carrier to return the excess profit to the federal budget.

The ‘Reset’ starts, now for the political will
No one expected a major diplomatic breakthrough, an impressive concession or an outburst of inflammatory rhetoric at the US-Russia summit this week in Moscow. And none happened.

Business

Police raid Sibir Energy offices in tax probe
The action is the latest headache for co-owner Shalva Chigirinsky, though police say Sibir is not the investigation’s target.

GAZ gets $630m in state guarantees
The struggling automaker should be able to access the money by 1 August, Shuvalov tells Putin.

DER SPIEGEL

Front page

Global banking economist warned of coming crisis
William White predicted the approaching financial crisis years before 2007's subprime meltdown.

Ireland to hold second EU referendum
It's official, the Irish will head to the polls again in October for a second referendum on the Lisbon Treaty, the deal that would see the European Union's biggest reform in years.

HURRIYET DAILY NEWS

Front page

Gov’t slow to find voice for Uighurs
Criticism rises against the Turkish government for its ‘weak’ reaction as unrest continues in northwestern China.

UN asks Turkey why it is jailing teenagers
An inquiry from the United Nations concerning Turkey’s courts trying stone-throwing children under age 18 in the Southeast as terrorists has heated up the debate over the country’s judicial system.

Business and finance

Gama Energy to invest in Jordan
Gama Energy, a partnership between Gama Holding and General Electric Energy Financial Services, is investing $1bn in a project that would help Jordan solve its water problems.

Oil prices slump as stock markets drop
Oil dived Wednesday under $62 to hit the lowest levels since May, as falling stock markets and a stronger US currency weighed on sentiment.

WARSAW BUSINESS JOURNAL

Front page

Thunderstorms cause tragedy in Poland
The wildly variable weather which has plagued Poland over the past few days is expected to continue, so people should take care.

Competition heats up for university places
According to the initial data concerning this year's enrollment to academies and universities, high school graduates are most eager to study law and psychology.

By: Staff Reporter
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