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December 05, 2008
Europe Insider Keep up-to-date with the latest news from Europe

NEWS THIS WEEK'S TOP STORIES FROM EUROPE

The Downturn Hits Green Energy

Cheaper oil is diluting demand for energy efficiency in Europe, and tighter financing is making expansion, or even survival, more difficult

Inside: This Week In Europe

Thanks to strong government support and leading-edge technology, Europe has long enjoyed pole position in green energy production and equipment. But the credit freeze and skid in oil prices are undermining the economics of renewables, putting the industry at risk. Mark Scott probes the implications in our top story this week.

We've also got our annual Young Entrepreneurs contest, Nokia's hot new N97 handset, airline mergers galore, troubles in Dubai, and the spreading economic cancer. Plus, disarray at OPEC, the fate of Volvo and Saab, and a rich assortment of other finance, energy, autos, and company news. Don't miss Maria Bartiromo's chat with Egyptian billionaire Naguib Sawiris and a chance to vote for the best young entrepreneur!
Andy Reinhardt, Europe Editor
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MORE EUROPEAN NEWS

SPECIAL REPORT: EUROPES YOUNG ENTREPRENEURS 2008
Rating the Best European Young Entrepreneurs
The nominees in BW's annual contest face an intimidating business climate, but these twentysomethings are eager to make their entrepreneurial marks

EUROPE
Nokia's N97 Smartphone, a Laptop in Your Pocket
Set to launch in mid-2009, this touchscreen phone with a miniature keyboard lets its Finnish maker take on Apple's iPhone

TECHNOLOGY • From silicon.com
Operators Rethink Handsets After iPhone
The success of Apple's device at spurring use of the wireless Web is prompting mobile service providers to focus more on 'best-of-breed' handsets

EUROPE INSIGHT
British Airways in Merger Talks with Qantas
If BA clinches a deal for the Australian carrier and also nabs Spain's Iberia, it will have an unmatched global footprint

EUROPE INSIGHT
Ryanair Bids for Aer Lingus—Again
Europe's largest discount airline is making a second play for its Dublin-based rival. Will the deal fly this time?

MIDEAST
The Downturn Hits Dubai
With the Persian Gulf economy shriveling from the oil price drop, Dubai's push to become a global financial hub is in jeopardy

FINANCIAL CRISIS WATCH
Why the Dollar Is Getting Stronger
Demand for U.S. debt, and fear, are sending investors back to the greenback

EUROPE • From Spiegel Online
Berlin Mulling Further Stimulus Steps
Germany is debating additional ways to stimulate its flagging economy. One idea: a €500 voucher for every adult to spend on consumer goods

EASTERN EUROPE • From Transitions Online
Russian Economy: The Pain is Spreading
The downturn isn't being felt by billionaire oligarchs alone. Companies and consumers also are starting to feel the pinch

EUROPE • From EUobserver
Eastern European Growth to Halve
Growth in Central and Eastern Europe and Central Asia will halve next year, dropping from 4.3% to 2.2% in the Baltics, with Latvia hardest hit

EASTERN EUROPE • From Transitions Online
Remittances at Risk for Eastern Nations
With Western Europe in recession, homeward-bound cash flow is likely to slow as jobs dry up in emigrant-friendly industries such as construction

MIDDLE EAST
Power Player Naguib Sawiris: The View from the Middle East
Maria Bartiromo talks to the Egyptian billionaire

EUROPE INSIGHT
A Dangerous Time for OPEC
At a meeting in Cairo, the oil cartel failed to agree on new production cuts that might have boosted the price of crude

EUROPE • From The Independent
Zara Founder Pours Billions into Wind
Spain's richest man, textile and fashion mogul Amancio Ortega, is setting up a global alternative-energy network

EUROPE • From Spiegel Online
The Troubles of Volvo and Saab
The iconic Swedish brands could disappear if parents Ford and GM go under. Can Sweden save its carmakers without violating EU rules on state aid?

EUROPE • From EUobserver
Carmakers Win Dilution of EU Emissions Law
In a deal with the European Parliament, manufacturers secured a three-year delay in implementing targets for reducing the CO2 in car exhaust

POWER LUNCH
Audi: Putting Its Models in Movie Roles
Audis used to be strictly bit players in Hollywood, but lately the superhot R8 and the A8 luxury sedan have been doing star turns

EUROPE • From The Independent
Recession Slows the Tesco Juggernaut
The grocer has posted some of its worst results in 16 years as it tries to withstand pressure from discount rivals and the global downturn

TECHNOLOGY • From silicon.com
Online Shoppers Go Down to the Wire
Consumers are waiting for holiday bargains, says an executive at price-comparison site Kelkoo

RETIREMENT
AXA's Soft Sell on Retirement
With MyRetirementShop.com, AXA chose to offer retirees and pre-retirees a portal focused on their lifestyle needs rather than product

SPECIAL REPORT: EUROPES YOUNG ENTREPRENEURS 2008
Europe's Young Entrepreneurs 2008
Vote for Europe's most promising entrepreneurs under 30

BW'S PICKS FROM AP NEWS >>

• Russia scales back ruble defense again

• India, Russia ink nuclear deal

• Gazprom seeks state cash for power projects

• Sweden unveils $2.8B 3-year economic stimulus plan

• SAfrica drops planned nuclear plant

MORE BREAKING NEWS FROM AP >

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FaceTime: Maria Bartiromo

Naguib Sawiris: The View from the Middle East

Advice for Obama: "Meet every leader [in the Mideast] and tell them, 'Look, we want a fresh start'"

Investing: Europe

Is Britain's Stimulus Plan a Wise Move?

Britain is pulling out the stops to immediately shore up the badly shaken economy, but what it will mean for the longer term is unclear

CNET.co.uk PRODUCT REVIEWS

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FEATURED SPECIAL REPORT >>

Europe's Hot Growth Companies

Date:

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The Downturn Hits Green Energy

December 05, 2008

Europe Insider

The Downturn Hits Green Energy

Cheaper oil is diluting demand for energy efficiency in Europe, and tighter financing is making expansion, or even survival, more difficult

• Russia scales back ruble defense again

• India, Russia ink nuclear deal

• Gazprom seeks state cash for power projects

• Sweden unveils $2.8B 3-year economic stimulus plan

• SAfrica drops planned nuclear plant

"Buyers need to make good choices, too. I bought my house to live in it, not to make a profit. I thought that's why you buy a house—am I wrong?"

Advice for Obama: "Meet every leader [in the Mideast] and tell them, 'Look, we want a fresh start'"

Britain is pulling out the stops to immediately shore up the badly shaken economy, but what it will mean for the longer term is unclear

CNET.co.uk Product Reviews

CNET.co.uk Editors' picks, value ratings, feature comparisons, and photos

Slide Shows

Europe's Hot Growth Companies

BW50: Europe's Top Performers

Eco tech outfits are among the up-and-comers thriving with help from their governments

CNET.co.uk
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