In Thursday's Europe papers

12 November 2009 05:30  [Source: ICIS news]

FINANCIAL TIMES

Front page

Dollar weakens as China hints at stronger renminbi
The US dollar continued to decline on Thursday while gold reached a new record high after China’s central bank acknowledged the case for a stronger renminbi, days ahead of the arrival in Beijing of US president Barack Obama for talks expected to highlight mounting international concern over Chinese currency policy.

BlueCrest to relocate 50 staff to Geneva
BlueCrest Capital, one of the UK’s largest hedge funds, is moving a significant portion of its operations to Geneva amid growing concerns about London’s status as a centre for alternative asset managers.

Companies and markets

Hewlett-Packard buys 3Com in run at Cisco
Hewlett-Packard agreed to buy 3Com for $2.7bn in cash, opening the broadest front yet in a competitive war with Cisco Systems.

US stocks touch 2009 high as gold hits new peak
Gold hit a new peak while Wall Street and London stocks drove to fresh highs for the year after a slip in the dollar to another 15-month trough.

INTERNATIONAL HERALD TRIBUNE

Front page

US Afghan envoy urges caution on troop increase
The US ambassador to Afghanistan, who once served as the top US military commander there, expressed reservations about deploying additional troops, senior officials said.

US seeking a lever in Kabul
As President Obama reviews American strategy in Afghanistan, the question of how much leverage the United States really has over President Hamid Karzai is at the centre of the discussion.

Marketplace

Little cargo, loads of debt
As ship owners confront plummeting charter rates from a 25% drop in global trade, fears have increased about the recovery of European banks with large shipping industry portfolios.

Hewlett-Packard to acquire 3Com
The $2.7bn deal, valued at $7.90 a share, has already been approved by directors of both companies.

THE MOSCOW TIMES

Front page

Science at crossroads, Medvedev told
Russian science is at the brink of collapse, but it represents Medvedev's only hope of ending the economy's dependence on energy resources through modernisation, scientists said.

More governors’ heads are expected to roll
The ouster of Sverdlovsk’s governor should mark the start of a season of reshuffles, opposition politicians and analysts say.

Business

Russia, Austria to rush pipeline talks
Prime Minister Vladimir Putin said the two countries had agreed to work fast to complete a South Stream deal after a meeting in Moscow with his Austrian counterpart, Federal Chancellor Werner Faymann, where they also reached agreements in oil trade and on air flights.

Gazprom Neft signs Iran deal
The start of work in Iran “will be an important step in strengthening the company’s position on international markets”, said Alexander Dyukov, the unit’s chief executive.

DER SPIEGEL

Front page

Global crisis makes US more dependent on China than ever
When US President Barack Obama visits China this weekend, he will encounter a rival that sees the financial crisis as more of an opportunity than a threat.

Dresden courtroom killer gets life
Alex W, the man who stabbed pregnant Egyptian pharmacist Marwa al-Sherbini to death in a courtroom in Dresden in July, was sentenced to life in prison on Wednesday.

HURRIYET DAILY NEWS

Front page

Imposter benefits from fear of swine flu
An elderly couple were robbed on Wednesday by a man who claimed to be a medical worker checking people for swine flu.

BTC inspires villagers to develop sustainable social, economic projects
The Baku-Tbilisi-Ceyhan pipeline has supplied not only oil but also inspiration and funds for social and economic development projects in the villages along its route.

Business and finance

OYAK plans acquisition in 2010
The Turkish Armed Forces Pension Fund, or OYAK, is expected to expand through an acquisition in 2010.

Moody's disappoints on sovereign rating
The sovereign credit-rating upgrade Turkey expects from rating agencies might come a bit late, according to Kristin Lindow, Moody's analyst for Turkey.

WARSAW BUSINESS JOURNAL

Front page

European Union at no risk of hyperinflation
The European Central Bank's analysis does not show any risk of hyperinflation in the medium term, an ECB policy maker said on Tuesday.

Central bank reveals €57m budget deficit in September
Poland posted a current account deficit of €57m in September, using up some of August's €124m surplus, but still beating analyst expectations, the National Bank of Poland has revealed.

By: Staff Reporter
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