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Date:

Thu, November 06, 2008 07:41:13 PM

From:

BusinessWeek European Insider

Subject:

Europe Reacts to Obama Victory

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November 06, 2008
Europe Insider Keep up-to-date with the latest news from Europe

NEWS  THIS WEEK'S TOP STORIES FROM EUROPE Europe Reacts to Obama Victory Europeans were rooting for Barack Obama to win the U.S. Presidency, but now that he's the victor, some are showing more cautious enthusiasm

Inside: This Week In Europe There was little doubt Europe was rooting for Barack Obama. And when the Democratic Presidential nominee won the race for the White House on Nov. 4, Europeans were predictably pleased. But newspapers and business leaders also expressed their concerns over the Obama's agenda--and whether he can live up to it. Read the details in our top story. We've also got the sharp interest rate cuts in Europe, Nokia's push into services in emerging markets, Alcatel-Lucent's turnaround plan, and a look at F1 hero Lewis Hamilton. Plus, tough times for European carmakers, an oil profits backlash, IT spending advice, and the world's most global cities. Don't miss Robert Parker on beaujolais wines and a slide show on the best and worst stock markets this year. Cheers! Andy Reinhardt, Europe Editor E-MAIL A FRIEND  |  GET RSS  |  SIGN UP FOR OTHER BW NEWSLETTERS

MORE EUROPEAN NEWS EUROPE • From Spiegel Online Europe's Letter to the Next U.S. President In an unprecedented move, EU foreign ministers will send a six-page memo to the winner of the U.S. election asking for cooperation EUROPE Central Banks in Big Rate Cuts As expected, the ECB trimmed interest rates on Nov. 6 by a half point. The big shocker was the Bank of England's 1.5 point cut TECHNOLOGY Nokia Brings the Web to Emerging Markets Its $50 mobile phones could be winners in offering Internet access to Indian farmers and millions of others TELECOMMUNICATIONS Alcatel-Lucent: Verwaayen's Plan Quarterly results for Alcatel-Lucent were even worse than expected, but CEO Verwaayen says there are "great opportunities in front of us" EUROPE INSIGHT Mobile Thrives in Africa, Despite Strife Civil war and economic problems may slow the growth of mobile services in Africa, but it's still one of the world's great opportunities SPORTS BUSINESS Lewis Hamilton: The Tiger Woods of Racing? The Formula One star won the coveted Drivers' Championship by a whisker. His already powerful marketability is now likely to soar EUROPE • From The Independent More Auto Gloom from BMW and Jaguar Germany's BMW announced a 63% fall in quarterly profits, and Jaguar will extend voluntary furloughs to up to 600 workers in Britain EUROPE • From Spiegel Online European Carmakers Get $50 Billion in Aid The EU moved to back a request for low-interest loans to shore up its struggling auto sector, provoking the ire of environmental groups EUROPE • From The Independent Huge Oil Profits Stir Resentment Record earnings from Shell, Exxon, and BP are fueling calls for price reductions at the pump and taxes on windfall profits EUROPE • From EUobserver Danes Warm to Euro Amid Financial Crisis Danish Prime Minister Anders Fogh Rasmussen said it's now clear Denmark needs the "political and economic stability" of the euro TECHNOLOGY • From silicon.com IT in a Downturn: Spend Big or Hibernate Financial institutions have two choices: Invest in radical tech change, or hunker down and wait for the storm to blow over GLOBAL The World's Most Global Cities A new study compiles a list of the world's most global cities, weighing financial as well as cultural and political influence NEWS & FEATURES • From Gizmag.com 2008 Paris Motor Show Roundup Among the highlights of this year's Paris show were the Lamborghini Estoque, the Citroen Hypnos, and the electric Nissan NuVu TECHNOLOGY • From silicon.com Surprise! IT Caused Heathrow T5 Snafus In a parliamentary report on the botched opening of Heathrow's Terminal 5, British Airways concedes technology testing and training were insufficient PARKER ON WINE A Dozen Beaujolais Bargains Le Beaujolais nouveau est arrivé! A guide to which wines offer a good price and good drinking SLIDE SHOW Best and Worst Stock Markets Major stock markets around the globe have reeled this year from the financial crisis and slowing economic growth. Here are the dozen best and worse performers SLIDE SHOW Top Global Cities The Global Cities Index ranks the world's top metropolises by measuring dozens of attributes. Click on to see a dozen of the world's most global cities  BW'S PICKS FROM AP NEWS >> • European, British central banks cut rates • EU deal to sell off Polish shipyards • Serbia seeks IMF deal to counter meltdown • Iceland bank failure may cost UK Treasury $1.3B • Greece announces bidders for Olympic Airlines MORE BREAKING NEWS FROM AP >  BW MALL   SPONSORED LINKS Get an MBA Oil and Gas Management Degree from UK  Improve your career with an AMBA accredited MBA in Oil and Gas Management from Aberdeen. Apply now. Earn 15% Yearly w/ Private Medical Investments  Invest w/ Expert-run Mobile Imaging Centers. Earnings Paid Monthly. Min $25K Inv 80% Profits In Currency Trading  Turtle Trader, Russell Sands, Forex Trading Advisory. Fully Guaranteed. Get Your Free Book. What's Your Credit Score?  A Good Credit Score is 700 or Above. See Yours in 2 Easy Steps for $0. No Medical Life Insurance  Free Online Quotes For No Medical Life Insurance Policies Up To $500,000.00 Buy a link now! This newsletter is a FREE service provided by BusinessWeek.com. To sign up for other newsletters, cancel delivery, change delivery options or change your e-mail address, please go to our Newsletter Preferences page. If you need other assistance, please contact Customer Service or contact: Wanda Cooper BusinessWeek Customer Rights Communications Data Services 1995 G Avenue Red Oak, IA 51566 Phone: 1-800-635-1200 View our corporate privacy policy here. To learn more about how BusinessWeek.com applies this policy, you can contact our Marketing Department. Copyright 2008, by The McGraw-Hill Companies Inc. All rights reserved. Terms of Use | Privacy Notice

IN YOUR FACE: GREEN MANUFACTURING Reader Tony Vignieri Writes: "It makes sense (and cents) to reward cleaner practices, much like rewarding consumers with environmentally-friendly vehicles. No business is too small to benefit from going green." Tell Us: Economic Stimulus Packages for Green Biz? >   Advertisement   Reader Poll: Special Issue Trouble at the office? In surveys, blogs, polls, and social media, BusinessWeek collaborated with readers to identify problems at work. Together we found answers.    Viewpoint: Alan Leaman Managing in the Downturn: 10 Principles The head of Britain's association for management consultants shares his group's guidance for coping with a recession—and avoiding pitfalls    Investing: Europe Emerging Markets: Foreign Currency Debt Troubles Foreign-denominated debt is squeezing countries from Romania to South Korea as their local currencies falter    CNET.co.uk PRODUCT REVIEWS CNET.co.uk Product Reviews Choose a Category Camcorders Cameras Cell Phones Handhelds MP3 Players Desktops Notebooks Entertainment Modems Video Adapters Networking Printers Scanners Software Storage CNET.co.uk Editors' picks, value ratings, feature comparisons, and photos   Advertisement   FEATURED SPECIAL REPORT >> Storm Clouds over European Banking Slide Shows Which Countries Are at Economic Risk? Podcast Who's Got Cash in the Global Economy? British Banks Line Up for Bailouts To calm the financial panic, the British government has stepped in to save three major banks. So far the markets like the news The Stunning Collapse of Iceland Swiss Banks Hold on as Zurich Frets European Banks: The Bailouts Continue Europe's Economies Head into a Downturn Britain: The Economic Fallout Credit Starvation Could Whack Britain The Rise of Santander Behind the Russian Stock Market Meltdown Swedish Banks at Risk from Baltic Ills READER COMMENTS > MORE SPECIAL REPORTS >

 

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