In Friday's Europe papers
26 June 2009 05:30 [Source: ICIS news]
FINANCIAL TIMES
Front page
Banking Act will beef up FSA’s role
Alistair Darling is planning a new Banking Act this year that will strengthen the role of the Financial Services Authority, in an unexpected move that follows criticism that the Bank of England failed to warn adequately of the impending banking crisis.
UBS unveils SFr3.8bn equity placement
UBS moved on Thursday to bolster its balance sheet by raising SFr3.8bn (£2.1bn) in an equity placing, following heightened pressure from regulators, and warned it would record a loss in the second quarter.
Companies and markets
Bernanke defends Fed on Merrill deal
Ben Bernanke was on Thursday forced to make an unusual public defence of his actions as a bank regulator amid accusations he overstepped his authority during the frantic talks over Bank of America’s acquisition of Merrill Lynch.
Overview: US investors ignore cautious Fed
US equities strongly outperformed their European counterparts on Thursday as investors managed to shrug aside disappointing labour market data and cautious comments on the economy and policy from the Federal Reserve.
INTERNATIONAL HERALD TRIBUNE
Front page
Michael Jackson, pop icon, is dead at 50
For his legions of fans, he was the Peter Pan of pop music: the little boy who refused to grow up. But on the verge of another attempted comeback, he is suddenly gone, this time for good.
Premier casting US withdrawal as Iraq victory
Prime Minister Nuri Kamal al-Maliki has taken to calling the withdrawal of American combat troops from Iraq’s cities by next Tuesday a "great victory," a repulsion of foreign occupiers he compares to the rebellion against British troops in 1920.
Business
Bernanke defends role on Merrill
Ben S Bernanke, the chairman of the Federal Reserve, staunchly denied on Thursday that he or anyone else at the Fed did anything improper in prodding Bank of America to complete its ill-starred takeover of Merrill Lynch last year.
Recession’s children
In the tight-knit, middle-class communities surrounding Dayton, many members of the class of ’09 knew exactly what they would do when they grew up.
THE MOSCOW TIMES
Front page
Politkovskaya acquittals overturned
Defencse lawyers took four months to exonerate their clients in the murder of journalist Anna Politkovskaya.
Duma takes stab at child-friendly ratings
Back in the 1990s, the police show "Dorozhny Patrul" used to show unpixellated, mutilated bodies at a time when most people were sitting down to dinner.
Business
Gazprom considers 30% investment cut
Gazprom may reduce its capital investment for gas production and transportation by as much as 30% this year after demand and prices slumped, chief financial officer Andrei Kruglov said on Thursday.
Sechin charms retirees at Inter RAO meeting
Shareholders of state electricity trader Inter RAO walked into their annual meeting on Thursday determined to oppose management’s calls to skip dividends and pay four independent directors a combined $180,000.
DER SPIEGEL
Front page
Chancellor Merkel visits the debt president
The occupant of the White House may have changed recently. But the amount of ill-advised ideology coming from Washington has remained constant.
‘The main thing was to survive at all’
Concentration camp brothels remain a hushed-up chapter of the Nazi-era horrors. Now a German researcher has probed the dark subject – and has revealed the meticulous cruelty of the so-called "special buildings".
HURRIYET DAILY NEWS
Front page
Hunt still on for anti-AKP plotters
Alleged military plans to topple the ruling party are continuing to raise havoc. Prime Minister Erdoğan has accepted the military’s conclusions from its internal investigation, in which it declared itself innocent, but he has also asked the military to widen its investigation.
Obama talks the talk, can he walk the walk?
The notorious image of the United States appears to have damaged the reliable image and appealing aura of US President Barack Obama in Turkey.
Business and finance
Turkey a door to region’s markets
US-based companies are increasingly interested in Turkey, as they consider the country as a gateway to markets, such as northern Iraq, Azerbaijan and Kazakhstan, says Rahşan Cebe, chairwoman of the American Business Forum in Turkey.
Fed sees the light, but no retreat yet
Ending a crucial meeting, US Federal Reserve officials vote to maintain the size and pace of their $1.75 trillion programme to buy mortgage debt and Treasuries.
WARSAW BUSINESS JOURNAL
Front page
Mercedes top status symbol for Poles
German car brand Mercedes is the number one symbol of luxury among rich Poles, according to "Luxury in Crisis," a report compiled by IQS Group for GolfProperties.pl.
PM says public media should not be privileged by budget
Prime Minister Donald Tusk decided that the state cannot afford to guarantee Polish State Television (TVP) and Polish Radio almost zł.1bn from the budget.
ICIS Copyright © Reed Business Information 2009
Author: Staff Reporter+44 20 8652 3214
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