In Tuesday's Europe papers

07 October 2008 07:02  [Source: ICIS news]

FINANCIAL TIMES

Front page

Darling weighs boost for banks
Alistair Darling, the chancellor, met leading bankers on Monday night to discuss the possibility of a multi-billion pound taxpayer-funded capital injec­tion into the sector, in an attempt to rebuild the battered balance sheets of Britain’s banks.

Iceland takes emergency action
Iceland risks plunging into national bankruptcy, Geir Haarde, the country’s prime minister, warned on Monday as a mounting financial crisis and a 30% dive in the krona forced the government to take emergency action.

Companies and markets

Citi and Wachovia in legal truce
Citigroup and Wells Fargo on Monday agreed a truce until lunchtime tomorrow in their bitter legal battle over the takeover of Wachovia, in an effort to gain more time to agree a deal to carve up the US’s sixth-largest bank.

Australia rate cut lifts Asian stocks
Asia Pacific stock markets bounced back from their losses after falling sharply in early trading and Australian shares rose by two and a half per cent after its central bank cut interest rates by one percentage point.

INTERNATIONAL HERALD TRIBUNE

Front page

News media feel limits to Georgia's democracy
Georgia's critics cite a lack of press freedom as a glaring example of the shortfalls in the country's democratic standards.

Obama and McCain campaigns shift to attack mode ahead of debate
John McCain turned toward a more negative tone, and the Obama campaign signaled it would respond in kind.

Marketplace

Global fears of a recession grow stronger
Three days after the White House's $700bn rescue plan was approved, it looks like a pebble tossed into a churning sea.

Asian stocks pare declines; Australian cuts benchmark rate
The international stock market sell-off continued unabated Tuesday, with Asian stocks heading down during the morning and no sign that the US financial rescue package passed last week will soon salvage battered international confidence.

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.

Rice denies trying to undermine Moscow
US Secretary of State Condoleezza Rice on Sunday rejected any suggestion that US efforts to build closer ties to Kazakhstan are meant to undermine Russian influence in Central Asia.

Business

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.

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.

DER SPIEGEL

Front page

Germany agrees on new rescue package for HRE
The German government and financial sector agreed a second rescue package for mortgage lender Hypo Real Estate in Sunday night talks.

Looking for the good guys off the Somali Coast
The pirates that captured the freighter Faina didn't know the ship was full of tanks. They also were unaware that by hijacking the vessel, they had ruined an international weapons deal that may have been illegally sending arms to Sudan.

TURKISH DAILY

Front page

Turkey's '68: A painful path toward revolution
Encased in glass are an old, small table and a wooden chair. A green parka hangs casually from the chair's upright back. For the uninitiated, this might seem to be no more than a bad attempt at  

Truck in flames creates panic
A truck carrying Liquid Petroleum Gas, or LPG, burst into flames in Istanbul's Yeşilköy district yesterday, causing panic in the vicinity.

Business and finance

TAV sees growth in ports
Since being privatized, the port of Mersin has reached international standards and has become Turkey's largest port in its league, according to Hamdi Akın, chairman of the board of directors at TAV Holding, which runs the port.

'Miserly' support annoys farmers
Turkish farmers react against a draft that envisages only Ykr 1 support premium for various products this year, such as cotton and olive oil. ‘The premium increase of YKr 1 is making fun of farmers,’ says chairman of the İzmir Mercantile Exchange

WARSAW BUSINESS JOURNAL

Front page

FIFA satisfied with Poland's agreement
World soccer's governing body FIFA has dropped all sanctions against Poland after Warsaw reached an agreement with its football association (PZPN), FIFA president Sepp Blatter said on Monday.

Law and Justice loses more ground to Civic Platform 6th October 2008
Current support for PO stands at 53% and PiS – 27%. If the elections were held today, PO would still be able to gain enough votes to fully rule on its own, but if the negative trend persists it should re-think its strategy towards the most pressing issues at the moment.

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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