A Weekly Digest of The World's Financial Press

Business Week

From boardroom to Brussels

change is sweeping

across Europe

NEW DEMANDS for transparency and accountability are eroding Europe's old tolerance for corrupt backroom deals and cronyism. But ... even though they have resigned (Edith) Cresson and her fellow European Commissioners refuse to admit they have done wrong. Similarly, executives at Telecom Italia and Paribas tried to save their jobs by backroom deals. The takeovers must continue, and a new European Commission president appointed quickly. Only if the clean-up is pushed to its logical conclusion will Europe become less corrupt - and a fairer, more open place to do business.

Editorial Comment

fortune

Monsanto scents a success amid the attacks by Wall Street and European environmentalists

ONE OF the ironies of Monsanto's situation is that even as the ire of investors and environmentalists builds, the company's prospects may be improving. Early returns indicate its arthritis drug, Celebrex, could be the fastest-selling new drug ever. Still, the company will have to convince consumers - and environmentalists - that its products are safe. Opponents say pollen will spread the genes to wild species. Monsanto ... say the chance of genes crossing is remote. They'd better be right for the sake of investors - and of the planet. The last thing we need is salad fixin's that crawl.

Comment by Nelson D Schwartz

Marketing Week

Many feel more could be done to encourage competition between beers behind the bar

THE PROBLEM lies in the way the industry is structured. The big brewers control most national brands, and these are the ones the pubcos want. A pack mentality leads to increasingly regimented drinking behaviour. The solution? One is to introduce progressive beer duty, charging lower duty for smaller breweries. This could lead to a flood of niche, speciality beers from the UK's 400 independent brewers. Ten years after the Beer Orders attempted to introduce more competition to the UK beer market, action needs to be taken to stimulate competition which will lead to innovation.

Editorial Comment

Economist

Clinton's debt relief solution for the poorest countries simply does not go far enough

THERE IS a good reason why debt relief produces meagre results: that the starting-point is too stingy. Calculations are based on the fiction that it might be repaid. Many countries default on bilateral debt, even as they repay multilateral lenders. This is absurd: debt relief should free resources. Mr Clinton's initiative to forgive more loans should be cheered. It is unfair to poor countries that just fail to qualify; it is unjust to those that strive to be good debtors. But these are all arguments for more generosity - not for continuing to punish the poor for the sins of their past rulers.

Editorial Comment

Financial News

Getting remote terminals for UK futures into the US hinges on lobbying from American players

THERE ARE now five US futures exchanges able to operate electronically through remote terminals in the UK.It is hardly surprising, therefore, that the chairman of the London International Financial Futures Exchange, Brian Williamson, is feeling frustrated at the delays in being granted approval by the Commodity Futures Trading Commission to put Liffe's new electronic screens in the US. Liffe can lobby the UK government to try to speed things up. But the most effective lobbyists for Liffe in the US would be the big US derivatives houses themselves.

Editorial Comment

Financial Times

Why Government handouts

to car companies

should stop

SINCE MOST car companies in the UK - and the rest of Europe - are subsidised, it would be difficult for the UK government to refuse all help to save jobs in this case. The cost per job is high. But it is only half the cost to the taxpayer of the 6,100 jobs created by LG of Korea at two plants in Wales. In a world of excessive subsidies to car production, the chance BMW can save Longbridge may justify one last bet. But it must be the last. The UK government and its EU partners should try to end the absurdity of competing to subsidise an industry suffering from chronic overcapacity.

Editorial Comment

Wall Street Journal

Why trying to avoid bank branch closures across Europe is

dangerously short-termist

ITALY NEEDS bankers. It needs to get rid of some redundant bank tellers and managers, to be sure, but it needs to hire personnel that can sell personal and life insurance and other financial services. A rationalisation of the industry is long overdue in the country where banking was invented, and would in the long run create employment. This will be achieved at a faster rate if the next step in the process is in fact the kind of cross- border mergers that open up the Italian banking industry, long noted for its insularity, to influences from other parts of Europe.

Editorial Comment

Arts and Entertainment
The Doctor and the Dalek meet
tvReview: Doctor Who Into the Dalek more than compensated for last week's nonsensical offering
Arts and Entertainment
books
Sport
Diego Costa
footballEverton 3 Chelsea 6: Diego Costa double has manager purring
Life and Style
3D printed bump keys can access almost any lock
gadgets + techSoftware needs photo of lock and not much more
PROMOTED VIDEO
News
i100
Arts and Entertainment
Inside the gallery at Frederick Bremer School in Walthamstow
tvSimon Usborne goes behind the scenes to watch the latest series
Life and Style
Silvia says of her famous creation: 'I never stopped wearing it. Because I like to wear things when they are off the radar'
fashionThe fashion house celebrated fifteen years of the punchy pouch with a weighty tome
Arts and Entertainment
Gregg Wallace in Summer's Supermarket Secrets
tv All of this year's 15 contestants have now been named
News
i100Steve Carell selling chicken, Tina Fey selling saving accounts and Steve Colbert selling, um...
Life and Style
A picture taken on January 12, 2011 shows sex shops at the Paris district of Pigalle.
newsThe industry's trade body issued the moratorium on Friday
News
ebooksAn evocation of the conflict through the eyes of those who lived through it
Arts and Entertainment
Could we see Iain back in the Bake Off tent next week?
tv Contestant teased Newsnight viewers on potential reappearance
News
i100
News
The slice of Prince Charles and Princess Diana's wedding cake and the original box from 29 July 1981
newsPiece of Charles and Diana's wedding cake sold at auction in US
Voices
The Ukip leader has consistently refused to be drawn on where he would mount an attempt to secure a parliamentary seat
voicesNigel Farage: Those who predicted we would lose momentum heading into the 2015 election are going to have to think again
Arts and Entertainment
Cara Delevingne made her acting debut in Anna Karenina in 2012
film Cara Delevingne 'in talks' to star in Zoolander sequel
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Law Costs

Highly Attractive Salary: Austen Lloyd: BRISTOL - This is a very unusual law c...

Network Engineer (CCNP, CCNA, Linux, OSPF, BGP, Multicast, WAN)

£35000 per annum: Harrington Starr: Network Engineer (CCNP, CCNA, Linux, OSPF,...

DevOps Engineer (Systems Administration, Linux, Shell, Bash)

£50000 per annum: Harrington Starr: DevOps Engineer (Systems Administration, L...

Data Scientist (SQL, PHP, RSPSS, CPLEX, SARS, AI) - London

£60000 - £70000 per annum: Harrington Starr: A prestigious leading professiona...

Day In a Page

Doctor Who Into the Dalek review: A classic sci-fi adventure with all the spectacle of a blockbuster

A fresh take on an old foe

Doctor Who Into the Dalek more than compensated for last week's nonsensical offering
Aston Villa vs Hull match preview: Villa were not surprised that Ron Vlaar was a World Cup star

Villa were not surprised that Vlaar was a World Cup star

Andi Weimann reveals just how good his Dutch teammate really is
The Last Word: Tumbleweed through deserted stands and suites at Wembley

The Last Word: Tumbleweed through deserted stands and suites at Wembley

If supporters begin to close bank accounts, switch broadband suppliers or shun satellite sales, their voices will be heard. It’s time for revolution
Ukraine crisis: The phoney war is over as Russian troops and armour pour across the border

The phoney war is over

Russian troops and armour pour into Ukraine
Potatoes could be off the menu as crop pests threaten UK

Potatoes could be off the menu as crop pests threaten UK

The world’s entire food system is under attack - and Britain is most at risk, according to a new study
Gangnam smile: why the Chinese are flocking to South Korea to buy a new face

Gangnam smile: why the Chinese are flocking to South Korea to buy a new face

Seoul's plastic surgery industry is booming thanks to the popularity of the K-Pop look
From Mozart to Orson Welles: Creative geniuses who peaked too soon

Creative geniuses who peaked too soon

After the death of Sandy Wilson, 90, who wrote his only hit musical in his twenties, John Walsh wonders what it's like to peak too soon and go on to live a life more ordinary
Caught in the crossfire of a cyber Cold War

Caught in the crossfire of a cyber Cold War

Fears are mounting that Vladimir Putin has instructed hackers to target banks like JP Morgan
Salomé's feminine wiles have inspired writers, painters and musicians for 2,000 years

Salomé: A head for seduction

Salomé's feminine wiles have inspired writers, painters and musicians for 2,000 years. Now audiences can meet the Biblical femme fatale in two new stage and screen projects
From Bram Stoker to Stanley Kubrick, the British Library's latest exhibition celebrates all things Gothic

British Library celebrates all things Gothic

Forthcoming exhibition Terror and Wonder: The Gothic Imagination will be the UK's largest ever celebration of Gothic literature
The Hard Rock Café's owners are embroiled in a bitter legal dispute - but is the restaurant chain worth fighting for?

Is the Hard Rock Café worth fighting for?

The restaurant chain's owners are currently embroiled in a bitter legal dispute
Caribbean cuisine is becoming increasingly popular in the UK ... and there's more to it than jerk chicken at carnival

In search of Caribbean soul food

Caribbean cuisine is becoming increasingly popular in the UK ... and there's more to it than jerk chicken at carnival
11 best face powders

11 best face powders

Sweep away shiny skin with our pick of the best pressed and loose powder bases
England vs Norway: Roy Hodgson's hands tied by exploding top flight

Roy Hodgson's hands tied by exploding top flight

Lack of Englishmen at leading Premier League clubs leaves manager hamstrung
Angel Di Maria and Cristiano Ronaldo: A tale of two Manchester United No 7s

Di Maria and Ronaldo: A tale of two Manchester United No 7s

They both inherited the iconic shirt at Old Trafford, but the £59.7m new boy is joining a club in a very different state