28/07 – Today’s headlines from across the EU

EUROPEAN HEADLINES

FT – Renewed stocks storm deals blow to Beijing after action to halt rout. 1,700 shares fall by 10% limit as “startled birds” retreat. Bank and commodity sectors hit.

WSJE – China selloff spurs doubt over rescue.Chinese shares suffered their biggest one-day percentage drop in more than eight years, wiping out hundreds of billions of dollars of market value and raising concerns about the effectiveness of Beijing’s efforts to prop up the market.

INYT – Hunting down a fish poacher.Activists cross three oceans to bring flagrant violator of global bans to justice.

FRANCE

Le Monde – Europe bans 700 generic drugs tested in India. France already banned these copied drugs on December. There is no proof of danger for patients.

Les Echos – Tax cuts: François Hollande under pressure.The PS calls for a new fiscal gesture in favour of households in 2016. The government insists on the need to abide by the Accountability Pact.

GERMANY

Frankfurter Zeitung FAZ) – Global sales of shares after price slump in Chinese market.Shanghai registers largest daily loss since 2007; doubts about Beijing are growing.

Suedeutsche Zeitung – Kretschmann alarmed by Balkan refugees.Baden-Württemberg PM launches initiative to limit influx of asylum seekers.

ITALY

La Repubblica – Rome on the brink of disaster: reshuffle of the Municipal council; the party Sel withdraws. The mayor of Rome, Marino Ignazio, is in an unstable situation. The reshuffle might take place today. At the national level, cuts in Health budget are to be postponed due to the protests of Regions and doctors.

Il Sole 24 Ore – Shanghai’s downturn (-8,5%) sends European markets into panic.The recent woes of the Chinese stock market is worrying European ones. A drop in profits caused Shanghai to lose 8,5% yesterday, its worst day since 2007. This has had a strong impact on European stock exchanges, notably in Milan, which closed the day at -2,97%.

POLAND

Gazeta – SKOKs threaten Szczurek and KNF.The Financial Supervision Authority (KNF) will tackle cooperative banking alliance SKOK today. The next institution of the group may get a court-appointed manager. The nationwide administration of SKOK accuses the supervision of political motivations, and threatens the finance minister with a lawsuit.

SPAIN

El Pais – Doubts towards China increase.A new fall of Shanghai Stock Exchange questions the official policy.

Expansion – El Corte Ingles changes its statutes to enter Qatar. The shareholders boards will have to abolish the preferential subscription right on 30 August.

The Times – UK must not be a haven for dirty cash.PM declares war on foreign money laundering.

The Guardian – Crackdown on corrupt luxury homebuyers.PM vows to rein in secretive offshore firms laundering “dirty money” in UK