In Tuesday's Europe papers

27 October 2009 05:30  [Source: ICIS news]

FINANCIAL TIMES

Front page

City tells Osborne to ‘wise up’ on bonuses
City and business leaders have attacked George Osborne’s “simplistic” proposals to cap bankers’ bonuses, calling on the shadow chancellor to adopt a “wiser” approach to a complex issue.

EU laments lack of Afghan progress
Political reform and clean government are almost non-existent in certain areas of Afghanistan in spite of eight years of US and European assistance, according to a hard-hitting report for European Union governments obtained by the Financial Times.

Companies and markets

ING to be broken up in wake of bail-out
ING, one of Europe’s biggest financial groups, unveiled a radical break-up forced on it by the European Commission that will have the financial services group sell off its insurance and investment management business.

Overview: Equities falter amid proposed financial rules
A sudden burst of selling on Wall Street drove a late reversal for stocks in Europe, leading to haven buying for the dollar.

INTERNATIONAL HERALD TRIBUNE

Front page

German limits on war facing Afghan reality
The German Army has been engaged in fighting in Afghanistan on a scale not seen since World War II, just as the war effort grows unpopular at home.

Ex-AIG chief is back, luring talent from rescued firm
Maurice Greenberg’s new company may soon start to siphon off business from AIG, and, therefore, its means to repay its debt to the government.

Marketplace

Fraud plagues sugar subsidy system in Europe
Sugar producers have reaped millions of euros in payments, adding to the cost of sugar, through schemes aimed at cashing in on generous subsidy programmes.

Post-bailout blues as Europe orders ING group to sell two units
Governments around the world are wrestling with just how much to rein in the financial behemoths that contributed to the global banking crisis.

THE MOSCOW TIMES

Front page

Naftogaz denies payment problems
Under an agreement between Gazprom and Naftogaz, Ukraine must buy more than 40bn cubic metres of gas in 2009.

Uproar over election fraud ends in a fizzle
The outcome of Saturday’s talks resembled a fizzle after the uproar that led to it: Medvedev declared that the country was moving forward on the path of democracy and that he was open to changing election laws favouring United Russia.

Business

Banks will restructure RusAl debt
RusAl will meet foreign creditors, who hold a total of $7.4bn of the company’s debt, after agreeing new terms with Russian banks and shareholder Onexim Group.

Sri Lanka invites oil exploration
Sri Lanka is keen to rebrand itself as an attractive investment destination and to commercially exploit resources that were largely untouched during the war.

DER SPIEGEL

Front page

Is Germany’s new government taking its job seriously?
Many thought that Merkel’s new governing coalition, which pairs her with the business-friendly Free Democrats, would be heavy on the reform and light on concern for Germany’s socially needy.

BMW links executive pay to that of its line workers
BMW has become the first major company in Germany to change its compensation practices amid growing concern over excessive banker bonuses.

HURRIYET DAILY NEWS

Front page

Civilian-military ties witness dramatic change, says expert
Civil-military relations in Turkey have been witnessing a dramatic change, independent of the accession process to the EU, says a prominent Turkish scholar.

CHP’s approach to Kurdish issue is not leftist, says left parties
The approach of the Republican People’s Party to the recent developments regarding the Kurdish initiative should not be considered part of the Turkish left movement.

Business and finance

No disaster for Turkey without IMF, banker says
Turkey has recovered from the crisis without resorting to the ‘insurance policy’ that the IMF could provide, according to a top Turkish banker.

Technopark summit gathers leaders in field
Administrators of the 37 technoparks located in Turkey will gather for the first Technopark Summit in Ankara on Tuesday.

WARSAW BUSINESS JOURNAL

Front page

Adamek victorious in clash of Polish titans
The biggest name in Polish boxing, Andrzej Golota squared up to the country’s brightest star Tomasz Adamek, in an eagerly anticipated match that was watched by some 17,000 fans in Lodz.

Interest rate cuts deemed too risky
Further interest rate cuts in Poland are “too risky” and no changes should be made until the end of the first quarter of 2010, the central bank’s Monetary Policy Council (RPP) wrote in an article on Monday.

By: Staff Reporter
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