In Wednesday's Europe papers
10 June 2009 05:30 [Source: ICIS news]
FINANCIAL TIMES
Front page
Ten US banks to repay Tarp funds
Ten financial groups including JPMorgan Chase and Goldman Sachs were on Tuesday allowed to repay a combined $68bn to the US Treasury in a move that marks a turning point in the economic crisis but formalises the divide between healthy and fragile banks.
Thomas Cook put up for grabs
Thomas Cook faces a merger with Rewe, its German rival, after the collapse of the UK travel operator’s biggest shareholder on Tuesday.
Companies and markets
Court allows Chrysler deal with Fiat
The US Supreme Court allowed the sale of Chrysler to Fiat to go ahead, rejecting an appeal by three Indiana pension funds that requested that the deal be put on hold.
Overview: Doubts over recovery spur bonds rebound
Government bonds staged a broad rebound and the dollar retreated on Tuesday as investors questioned whether recent signs of economic improvement were sufficient to justify talk of higher US interest rates.
INTERNATIONAL HERALD TRIBUNE
Front page
Candidates in Iran split on direction of economy
In the West, Iran’s coming presidential election is viewed largely through the lens of President Mahmoud Ahmadinejad’s crackdown on social freedoms and his combative approach to Israel, the United States, and Iran’s nuclear programme.
Battle to halt graft scourge in Africa ebbs
The fight against corruption in Africa’s most pivotal nations is faltering as public agencies investigating wrongdoing by powerful politicians have been undermined or disbanded and officials leading the charge have been dismissed, subjected to death threats and driven into exile.
Business
10 large banks allowed to exit US aid program
The Obama administration marked with little fanfare a major milestone in its bank rescue effort – its decision on Tuesday to let 10 big banks repay federal aid that had sustained them through the worst of the crisis – as policy makers and industry executives focused on the challenges still before them.
Supreme Court clears way for the sale of Chrysler to Fiat
Chrysler appeared poised to emerge from bankruptcy by early Wednesday after the United States Supreme Court declined on Tuesday to hear a challenge by three Indiana state funds and several consumer groups to the sale of most of its assets to Fiat.
THE MOSCOW TIMES
Front page
Putin ditches unilateral WTO bid
Russia’s 16-year quest to join the World Trade Organisation took a wild turn on Tuesday when Prime Minister Vladimir Putin announced that Russia, Belarus and Kazakhstan would abandon their separate accession talks in favour of a bid to enter as a single regional bloc.
Nearly all Belarussian dairy goods banned
The Federal Consumer Protection Service doubled a list of banned Belarussian dairy products to about 1,200 products on Tuesday amid assurances from Foreign Minister Sergei Lavrov that the decision was not politically motivated.
Business
No weekend holiday for Pikalyovo
Pikalyovo residents won’t celebrate the Russia Day holiday with an extended weekend with the rest of the country. They will celebrate by going to work.
HSBC targets rich with retail banks
HSBC will open five retail branches in Russia this month as part of a $200m programme to expand its local operations, bank executives announced on Tuesday at a news conference marking the first branch’s opening.
DER SPIEGEL
Front page
The newspaper loved in the West, hated at home
Reporters at Novaya Gazeta need strong nerves – four of the Moscow-based newspaper's journalists have already been murdered. But the paper has powerful friends, including Mikhail Gorbachev and oligarch Alexander Lebedev.
Why Angela Merkel will win in September
It would take a Barack Obama to unseat Angela Merkel in the September election. Her rival Frank Walter Steinmeier is anything but. The dour bureaucrat lacks the campaign skills needed to offset waning confidence in his Social Democrats.
HURRIYET DAILY NEWS
Front page
Pouring concrete over a paradise
Once a tranquil town surrounded by uninhabited hills, Bodrum’s transformation into one of Turkey’s largest summer tourism spots has resulted in sprawling urban development and government plans for yet more growth.
Two Turkish clubs square off over star player
Despite being touted as one of the most skillful footballers of his generation, Kayserispor’s Mehmet Topuz had never made headlines before dribbling around two giant clubs in the past few days.
Business and finance
Iraq oil find lights fuse in merger of companies
Çukurova Group’s Genel Enerji, which started pumping oil from northern Iraq with its partners this month, is merging with Britain’s Heritage Oil. Heritage will pay $2.45bn in stock to Genel Enerji shareholders. The new firm, to be named HeritaGE, will be the biggest oil producer in northern Iraq.
Famed investor Buffettdoubles munibond stake
Berkshire Hathaway, the company of Warren Buffett, the man whose investment decisions are followed closely by many, doubles its municipal bond holdings amid record swings in the value of securities.
WARSAW BUSINESS JOURNAL
Front page
Used car imports continue falling on weak złoty
The Finance Ministry announced yesterday that 62,200 used cars were imported into Poland in May. Although this is the highest level since the beginning of the year, it is still 38% down y/y.
Warsaw 70th most liveable city in the world
A recent survey by the Economist Intelligence Unit has placed the Polish capital in 70th place in the ranking of the most livable cities in the world.
ICIS Copyright © Reed Business Information 2009
Author: Staff Reporter+44 20 8652 3214
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