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MONDAY 16 JUNE 2008

FINANCIAL TIMES

* AIG chief to go after $30-billion in writedowns

The Lex Column
* Out of service - You might think with petrol in the US costing more than $4 a gallon it would be a great time to be selling the stuff. So why is ExxonMobil disposing of 2,200 service stations?
* Derivatives exchanges - Volumes are growing faster, while margins are higher. Yet shares in CME Group have almost halved since December, dragging down the rest of the sector with it.
* Airline capacity - The need to replace ageing aircraft is one reason behind the boom in orders placed with Boeing and Airbus. But the oil price has now gone past the point at which it is a helpful stimulant - into a terrific dead weight

 The Tony Jackson on Monday Column
* Not the time to gamble on survivors of Armageddon

Feature
* US Tesco chief dons lucky shirt to fend off criticism

Mining Feature (p21)
* High cost of iron ore and coal hurts steel producers

Further new
* Darling to seek City response on short selling
* Barclays turns to outside funds
* GSK leads pack in affordable drugs for poor
* Midlands engineers show their mettle
* ScS Upholstery tries to assuage nervous investors
* Investors who backed US financial companies' drive to raise capital are sitting on nearly $10-billion in paper losses
 * Do exchanges feel blue over Turquoise?

THE TIMES

The Front Page
* Church in meltdown over gays and women

Page 36 Feature
* Pressure grows on HBOS to come clean over housebuilder exposure

The Economic View Column
* Two sliding sectors do not a recession make

Business Big Shot
* Sir Philip Hampton, chairman Sainsbury

The Monday Manifesto
* Andrew Tinkler, chief executive Stobart Group

Further news
* Action called for as Yell share price plummets
* Air Force row in Washington threatens to leave key British defence contracts up in the air

THE INDEPENDENT

* Saudi King: We will pump more oil

The Stephen King Column
* We must cruel to be kind to save the world from a longer-term headache

The Small Talk Column
* Raven Russia soars on back of 'property sex'
* ReThink Group to raise about £800,000 by selling 8% of the company
* EBTM - Hopes of orders from festivals

Further news
* Sainsbury's expected to deliver solid update

DAILY TELEGRAPH

* Toughest year since 1992, says CBI

The Comment Column
* Inflation is with us, but only for a brief comeback tour

Profile
* Dave McCulloch, chief executive Enodis

The AIM Market Column
* Smaller companies are so much fun

Further news
* CBI predicts rising inflation and slashes growth
* Housing chiefs call for state action
* ScS Upholstery sits down with advisers to raise cash
* Rio Tinto invests £190-million in driverless trains to carry iron ore

THE GUARDIAN

No share news today

DAILY MAIL

* Darling reforms to stop Rock horror

DAILY EXPRESS

The Investment Extra Column
* Solid order book signals bright future for BAE

The AIM Market Column
* BrainJuicer – Expansion for online market researcher
* ReThink – Building on shortage of construction skills

DAILY MIRROR

No share news today

THE SUN

No share news today

COMMENT AND BID NEWS

* This week Alistair Darling will say that tough rules for anyone 'short selling' shares in a rights issue are temporary and he is seeking dialogue with the City to find a lasting solution
* Barclays is seeking to raise as much as £4-billion from outside investors, as it seeks to shore up it balance sheet without having to launch a rights issue that could lead to aggressive writedowns
* Barratt Developments is still expecting to sign a vital £400-million loan agreement with its banks by the end of its financial year in two weeks time
* Rio Tinto chief says Alcan deal has become vital to its defence against BHP Billiton's takeover attempt
* Taylor Nelson Sofres to defend its merger with GfK to WPP Group chief Sir Martin Sorrell
* Shell & ExxonMobil are close to completing a £2-billion sale of their Infineum performance fuel joint venture
* Almost £10-billion of real estate funds are to be launched this week, as equity raisings for such investments show no sign of slowing
* Credit Suisse in Chinese securities joint venture
* Carlyle Group expected to announce it has hired Citibank Japan's president Sunil Kaul to spearhead its regional financial services investments
* Cadogan Petroleum of Ukraine, is to float in London on Wednesday with a value of between £385-million and £460-million

SOME ITEMS THAT COULD AFFECT PRICES

War, Terrorism and Strife
* Gordon Brown tries to play down transatlantic tensions over Great British troop withdrawals from Iraq before a dinner with President Bush

Credit Crisis Fallout
* The Bank of England warns crisis is far from over as banks hoard cash
* According to a survey, most economists believe a recovery in house prices to their 2007 peak is at least 4-years away
* CBI warns that next year the UK economy will grow at its weakest pace since the early 1990’s, as higher oil prices squeeze profits and household budgets
* Insolvencies poised to hit levels of dot-com crash
* US Treasury Secretary Hank Paulson talked up the dollar in Osaka at the weekend as Group 8 finance ministers warned of inflation threats
* The European Union is to unveil 'targeted regulatory measures' for credit rating agencies

Oil, Energy, Commodities and Food
* Saudi Arabia is considering boosting oil production to its highest level in over 25-years to bring down record prices
* Midwest floods hit US output of ethanol

News from Home
* Talks between tanker drivers and employers are to resume today in a bid to prevent another strike taking place next weekend
* A strong €uro sees retail sales soar by 8.2% in Central London
* Insurers step up flood cover warning

News from Abroad
* New Zealand is on the cusp of a downturn and risks seizing the dubious honour of becoming the world's first developed nation to sink into recession, as measured by two consecutive quarters of negative gross domestic product growth.
* European Union leaders start salvage work on Lisbon treaty after Irish 'no' vote
* European pharmaceutical companies, led by GlaxoSmithKline, outperform US peers in efforts to take medicines available to the poor, according to analysts
* European mobile phone users could have to pay US-style charges for receiving calls, after EU Telcoms Commissioner Viviane Reding said she was prepared to accept the industry changing its business model

Compiled in association with HB PLC and WH Ireland Ltd


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