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October 09, 2008
Europe Insider Keep up-to-date with the latest news from Europe

NEWS THIS WEEK'S TOP STORIES FROM EUROPE

European Banks: The Bailouts Continue

A series of government interventions are in the works as investors and politicians realize Europe is facing a banking crisis of its own

Inside: This Week In Europe

The economic and financial news is moving so fast--and so alarmingly--that it's hard to keep up. In our top story this week and follow-on items below, we discuss the rolling European bank bailout, including the growing pressure for government action and Britain's sweeping $800 billion recovery package unveiled on Oct. 8.

We've also got the coordinated central bank rate cuts, Europe's shaky economy, the crisis in Iceland, and the potential knock-on effect of tight credit on Britiah business. Plus, Nokia's bold play in mobile music, SAP's miss, coverage of the Paris Auto Show, and other tech, investing, and lifestyle news. Don't miss Parker on Barbera wines and a slide show on new electric vehicles.
Andy Reinhardt, Europe Editor
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MORE EUROPEAN NEWS

FINANCE, MARKETS & INVESTING
Britain's Big Banks Bailout
The British government launched a massive bank rescue plan Oct. 8. But it likely won't be enough to head off recession, and the stock market dropped anyway

EUROPE INSIGHT
ECB Bends Mandate to Cut Rates
The financial crisis has forced global central banks to bend their mandates. That shift was dramatically demonstrated by the ECB on Oct. 8

EUROPE • From Spiegel Online
Why the ECB Can't Fix Europe
The European Central Bank's powers are limited, and its efforts could be undermined by the chaotic response of EU governments to the turmoil over the last week

WALL STREET IN CRISIS
Europe's Economies Head into a Downturn
From Dublin to Düsseldorf, signs of recession are mounting as inflation pushes up labor costs—a bad combination

EUROPE • From The Independent
Iceland on the Brink of Bankruptcy
With banking debts several times larger than its economy, Iceland—rated by the U.N. as the world's most developed country—now has the distinction of being the most exposed to the credit crunch

EUROPE • From The Independent
Credit Starvation Could Whack Britain
In a new report, the Bank of England warns that a growing number of firms may go broke because they can't get a loan

STRATEGIES
Nokia Aims to Be No. 1 on the Mobile Web
With its series of new Internet phones, the global leader in handset sales aims to outrace rivals

TECHNOLOGY
Nokia's Touch Screen 5800 Nods to iPhone
Boasting many of the iPhone's features, the 5800 XpressMusic handset targets the young by offering a year's worth of free music downloads

TECHNOLOGY • From silicon.com
Microsoft Taps Europe for Search R&D
Microsoft's Steve Ballmer says the company will start a European Search Technology Centre to help gain on leaders Google and Yahoo

EUROPE INSIGHT
SAP Likely to Weather the Downturn Well
Investors hammered SAP when it revealed a third-quarter miss. But the German software giant is likely to weather the downturn better than most tech companies

TECHNOLOGY • From silicon.com
A Talk with Symbian CEO Nigel Clifford
Can Symbian, the leader in smart phone operating systems, keep pace with growing competition from the likes of Apple, Microsoft, and RIM?

AUTOS
Rolls-Royce Drophead Coupé: Chauffeur Optional
The $423,000 Phantom convertible is part of Rolls-Royce's push to woo the world's young super-rich, who do the driving themselves

AUTOS
Chevrolet Pins Europe Hopes on Cruze
GM, needing to offset a brutal sales slump in the U.S., highlights a European strategy by unveiling the Chevy Cruze at the Paris Motor Show

AUTOS
Electric Cars: What's Needed Now
Better batteries and longer range make them viable. Next hurdle: a network of places to recharge on the go

EUROPE • From EUobserver
Carmakers Ask EU for $55 Billion Loan
European carmakers are asking for a loan to help them compete with the U.S., where the government has announced a car sector support package

HARVARD BUSINESS ONLINE • From Harvard Business
Europe's Financial Mess: Leaders Wanted
Ben Bernanke and Henry Paulson have emerged as household names in the U.S. financial crisis. What leaders have emerged across the Atlantic?

INVESTING
Global Stocks: Should You Pull Out?
This crisis started in the U.S., but investors have seen huge losses overseas. It may be too late, however, to repatriate assets

VIEWPOINT
Russia: Good Times Ahead for Private Equity?
Despite a sharp downturn in Russian stocks, the country's fledgling private equity business looks poised to prosper

HEALTHDAY
Study Suggests Red Wine May Protect Against Lung Cancer
But authors say research, which focused on men, doesn't mean it's OK to smoke

PARKER ON WINE
Barbera Bargains
Wines produced from Northern Italy's barbera grape are well made and surprisingly well priced

SLIDE SHOW
Gearing Up: Electric Cars Are Fast Becoming Real
EVs still face challenges in speed, range, and refueling, but electric cars have never been closer to viability. Tomorrow's EVs are stunning

BW'S PICKS FROM AP NEWS >>

• Putin: US image damaged over economy woes

• Russian tycoon Khodorkovsky sent to isolation cell

• Russian markets climb sharply

• France earmarks $549 million for green cars

• Belgium, France, Luxembourg guarantee Dexia bank

MORE BREAKING NEWS FROM AP >

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