In Monday's Europe papers

06 October 2008 06:48  [Source: ICIS news]

FINANCIAL TIMES

Front page

Darling plans ‘big steps’ to aid UK banks
Alistair Darling was on Sunday considering a dramatic taxpayer-funded recapitalisation of Britain’s banks, amid signs of cross-party and central bank support for an effective part-nationalisation of the sector.

Berlin agrees new package to save Hypo
Germany’s government and financial regulators on Sunday agreed a second bail-out package for Hypo Real Estate after the abrupt failure of a first attempt to rescue the property lender.

Companies and markets

Germany guarantees savings to avert panic
Germany said on Sunday it would guarantee all private German bank accounts currently worth €568bn  in a dramatic move to prevent panic withdrawals as fears over the worldwide financial crisis spread to Europe’s largest economy.

Slowdown could force UK to cut rates
The Bank of England is under severe pressure to cut interest rates on Thursday following a marked deterioration in the outlook for the UK economy.

INTERNATIONAL HERALD TRIBUNE

Front page

In poverty and strife, Afghan women test limits
In the province of Bamian in Afghanistan, women are uprooting traditional gender roles by taking up leadership positions.

Post-apartheid South Africa enters an anxious era
Fourteen years after the end of apartheid, South Africa the global pariah that became a global inspiration has lapsed into gloom and anxiety about its future.

Marketplace

Asian markets lower in wake of bank rescues
Stock markets fell sharply in early trading Monday amid prospects for a downturn in Asian exports as economies weaken in the United States and Europe.

Financial crises spread in Europe
The growing crisis has underlined the difficulty of taking concerted action in Europe because its economies are far more integrated than its governing structures.

THE MOSCOW TIMES

Front page

Deripaska gives up Magna Stake
In the latest signal that no one is immune from the current financial crisis, billionaire Oleg Deripaska has handed over one of his biggest overseas investments a one-fifth stake in Canadian auto parts maker Magna, worth $912m to creditors.

RTS Has toughest week since '99
Trading on the dollar-denominated RTS exchange was suspended three times on Friday as anxiety deepened over whether the US House of Representatives would pass a $700bn financial sector bailout package and share prices on Russian and international markets plummeted.

Business

Sechin set to join inter RAO board
Deputy Prime Minister Igor Sechin is set to join the board of state-controlled electricity trader Inter RAO, boosting his influence over the sector at a company with operations in Finland, Turkey and across the former Soviet Union.

Falling Nickel prices slash Norilsk's profit
Norilsk Nickel's net profit fell by one-third in the first half of the year as the world's largest nickel miner succumbed to rampant inflation in Russia and a 40% decline in the price of the metal.

DER SPIEGEL

Front page

Russia and Ukraine jockey in the black sea
The naval fleets of Russia and Ukraine share the port at Sevastopol on the Crimean Peninsula. Some in Russia would like the Ukrainian city to return to the Russian fold.

Palin saves her skin while Biden avoids gaffes
It wasn't a disaster. Republican vice-presidential candidate Sarah Palin survived her debate with her calm and controlled counterpart Joe Biden. But it's unlikely to have been enough to narrow the gap that has opened up between Barack Obama and John McCain in the polls.

TURKISH DAILY

Front page

Five-star hospitals keep up with luxury hotels in food service
Cheesecake, steak with cheese sauce, chocolate mousse and kebabs sound like items on a luxury restaurant's menu.

Coups d' etat removed from year-eight history books
Records of two military coups in the Turkish Republic's recent past have been removed from official history textbooks for year-eight students, according to the Education Ministry's Board of Education and Discipline.

Business and finance

Turkey, Russia default swaps increase
Investors traded more credit-default swap contracts on Turkish and Russian government debt than any other country as bondholders sought protection during the worst month for emerging markets in six years.

French economy steps into recession
France's economy, the second largest of the 15 countries sharing the euro, slipped into recession for the first time in more than 15 years in the third quarter, according to Insee, the national statistics office.

WARSAW BUSINESS JOURNAL

Front page

Poland close to losing the right to co-host Euro 2012
UEFA is running out of patience and will strip Poland of the right to host Euro 2012 if the government doesn't reinstate its football association by Monday

PBG will execute work for PGNiG
A consortium led by PBG has won a contract worth zł.1.3bn to increase PGNiG's gas storing capacity

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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