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December 24, 2008
Europe Insider Keep up-to-date with the latest news from Europe

NEWS THIS WEEK'S TOP STORIES FROM EUROPE

Attractive Stocks in an Ugly Old World

Plunging prices have made European equities tempting, but proceed with caution

Inside: This Week In Europe

Only investors with a healthy appetite for risk might consider dipping into European stocks right now even as grim new economic news emanates daily from the Continent. Yet battered issues such as Arcelor Mittal, Nokia, and LVMH could offer great investment upside, as Carol Matlack explains in this year's annual BusinessWeek Investment Outlook.

We've also got the troubles of Europe's chipmakers (and a possible bailout), more economic worries in Britain and Germany, OPEC's awkward moment, and new airline fare cuts. Plus, Belgium's government collapse, Intel's push into auto batteries, and a variety of other tech, policy, and innovation coverage. Don't miss Robert Parker on Italian whites. Happy Holidays!
Andy Reinhardt, Europe Editor
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MORE EUROPEAN NEWS

SEMICONDUCTORS
Subsidizing 'Silicon Saxony': A Short-Term Fix?
A bailout gives Infineon's Qimonda unit breathing room. But the once-thriving chip industry in East Germany faces an uncertain future

TECHNOLOGY
Chipmakers on the Edge
Awash in inventory, global companies are in deep trouble—and some are seeking bailouts

EUROPE • From Spiegel Online
Germany's Achilles' Heel: Falling Exports
German factories have long depended heavily on global orders. And as the crisis spreads overseas, shipments are sharply curtailed

EUROPE • From The Independent
Britain Faces Unemployment 'Bloodbath'
As the outlook for 2009 worsens, tens of thousands of jobs could be axed in the British public and private sectors, a cabinet minister tells The Independent

NEWS
OPEC Loses Its Muscle
Despite its bluster about cutting production, the cartel has been unable to marshal its members to halt oil's sliding price

EUROPE INSIGHT
OPEC's Dysfunctional Communications
Sure, oil prices are falling as economies swoon. But OPEC's own mixed messages contribute to skepticism that it will deliver big production cuts

EUROPE • From Spiegel Online
Putin Hails End of 'Cheap Gas' Era
With the cost of developing natural gas fields on the rise, Russia's Prime Minister warns European consumers they must get used to higher fuel prices

EUROPE • From The Independent
Airlines Cut Fares to Boost Traffic
British Airways and Virgin Atlantic are dropping early 2009 prices to 20-year-lows in hope of tempting more passengers to travel abroad

EUROPE • From EUobserver
Berlin Planning Second Round of Stimulus
A new package worth 30 billion euros, to be unveiled in January, will contain a "mix of different measures"

EASTERN EUROPE • From Transitions Online
Hungary's Doctor Shortage
Low pay at home, plus poor prospects and conditions, spur hundreds of physicians each year to seek work elsewhere in the EU

EUROPE • From Spiegel Online
Belgian Government Falls in Banking Scandal
After the collapse this weekend of Belgium's ruling coalition, King Albert II is faced with naming an entirely new transition government

EASTERN EUROPE • From Transitions Online
Albania's 'Patriotic Highway' Scandal
A controversy tied to a massive road project deals a blow to Prime Minister Berisha's promise to rid Albania of endemic corruption

TECHNOLOGY • From silicon.com
Peace on Earth, Except for IT Execs
A silicom.com survey finds two-thirds of chief information officers polled say they'll be available to work should anything go wrong over the holidays

GIGAOM • From GigaOm
Why Intel Could Rock the Electric Vehicle Battery Market
Venture arm Intel Capital has funded battery, energy storage, and alternative energy companies, and Intel certainly has the balance sheet for big R&D bets

TECHNOLOGY • From silicon.com
Smartphones Change Policing in Britain
Cops on the beat will soon have instant access to a whole host of data, including facial photos and voices

INNOVATION
2008's Best Books on Innovation
We chose exciting new titles that tapped into important trends, provoked us, and delved into how to manage and monetize fresh ideas

PARKER ON WINE
Brilliant Italian White Wines
Vie di Romans from Friuli-Venezia Giulia in northeast Italy is making some extraordinarily elegant, and food-friendly, wines

BW'S PICKS FROM AP NEWS >>

• Poland cuts key interest rate to 5 percent

• EU approves bank rescue packages

• Putin: No more cheap gas

• British economy shrinks 0.6 pct in 3rd quarter

• Murdoch to help Germany's Premiere to raise cash

MORE BREAKING NEWS FROM AP >

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