In Tuesday's Europe papers

11 August 2009 05:30  [Source: ICIS news]


Front page

Whitehall wary over Lloyds’ £15bn plan
Lloyds Banking Group’s tentative plans to raise an estimated £15bn-£20bn ($25bn-$33bn) in a rights issue to reduce its reliance on the government face a wall of scepticism in Whitehall and among investors.

UK seeks tax deal on secret accounts
About 5,000 British investors with an estimated £2bn to £3bn in secret Liechtenstein bank accounts will be asked to come clean under a ground-breaking deal to be signed on Tuesday.

Companies and markets

US judge rejects BofA settlement with SEC
A judge refused to accept a proposed settlement between regulators and Bank of America over allegations of misleading investors in a proxy statement and pushed the Securities and Exchange Commission at a hearing late on Monday night to identify who at BofA was responsible for the alleged mis-statements.

Overview: Concerns rally is faltering spark profit-taking
US and European equity markets struggled to make fresh progress on Monday as investors booked profits after last week’s strong gains and began to question whether the rally could continue.


Front page

Scores dead and hundreds feared missing from typhoons
The toll from the already deadly Typhoon Morakot in the Pacific threatened to soar on Tuesday, as huge mudslides buried a rural village in south-central Taiwan and at least six apartment buildings in coastal China, leaving hundreds of people missing.

North Korean ship searched for radioactive material
Indian authorities have detained a North Korean vessel and are searching it for radioactive material, the first time a ship has been seized and boarded under sanctions adopted by the United Nations Security Council in June.


Suitmaker to princes adapts to crisis
Brioni will introduce a T-shirt to its line as part of a move to expand its casual-wear offerings and reach a younger clientele.

Judge attacks Merrill pre-merger bonuses
Reigniting a major controversy over Wall Street pay, a federal judge on Monday sharply criticised the bonuses that Merrill Lynch hurriedly paid out before it was acquired by Bank of America last year and pointedly questioned a federal settlement that had seemed to put the issue to rest.


Front page

Regional leaders criticised for overspending
Prime Minister Vladimir Putin on Monday scolded regional leaders for spending too much and urged them to borrow carefully as the federal government faces its first budget deficit in a decade.

VEB to help finance Aeroflot Jet purchase
Aeroflot, Sukhoi Civil Aircraft and VEB will sign an agreement next week under which the bank will finance the delivery of Superjet aircraft to Aeroflot, Industry and Trade Minister Viktor Khristenko said on Monday.


Medvedev: Economy hovers in place
President Dmitry Medvedev said on Monday that the economy will not have a future if it does not lose its dependence on raw material exports.

Zhukov says AvtoVAZ needs more assistance
Deputy Prime Minister Alexander Zhukov called for new support measures at AvtoVAZ’s mammoth car factory on the Volga to avoid social unrest, as data on Monday showed that car sales in the country plummeted again in July.


Front page

Georgia deflects blame ahead of EU report
In a soon-to-be-published report, the European Union is expected to place the responsibility for starting the South Ossetia war on Georgian President Mikhail Saakashvili.

Paris’ electric car sharing plan
A plan to make 4,000 electric cars available for Parisians to pick up and drop off at rental stands still has some kinks to be worked out.


Front page

Sarkozy’s stance clouds Turkey Season in France
Ankara and Paris are both impeding on "Turkey Season" in Turkey-skeptical France with reluctance about the event and bureaucratic obstacles, daily Vatan reported on Monday.

Turkey sticks to guns on energy deals
New energy deals have given Turkey an even stronger position, according to the energy minister.

Business and finance

Industrial output slump eases in June
Monthly industrial production in June displayed a 7.3 % increase compared to a month earlier. Industrial output had declined 17.4% in May, according to the Turkish Statistical Institute, or TurkStat.

Turkey’s annual exports foreseen to reach $91.7bn
Considering the import and export data of the first six months, sector experts foresee Turkey’s annual exports to reach $91.7bn.


Front page

Poland expects 0.5% GDP growth in Q2
Poland’s GDP looks set to grow by between 0.5-1% in the second quarter of 2009, an economic aide to Prime Minister Donald Tusk was quoted as saying on Monday.

Kolporter seeks investor to fund expansion
Kielce based press distributor Kolporter has been looking for an investor, it was revealed on Friday.

By: Staff Reporter
+44 20 8652 3214

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