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European Business News 96-09-16
From: The European Business News Server at <http://www.ebn.co.uk/>
Page last updated September 16 7:30 CET
CONTENTS
[01] UK to urge EU rethink over BSE ruling
[02] Germany plans further welfare cuts
[03] Bossi declares indepenent state
[04] Bayer and Roche to announce joint merger
[05] Daimler Benz keep quiet over streamline rumour
[06] Wedgwood 'to take over Rosenthal'
[07] Italy seeks STET compromise
[01] UK to urge EU rethink over BSE ruling
The UK will today seek to persuade the European Union to reduce the number
of cattle Britain must slaughter as part of a plan to eradicate mad cow
disease.
Britain's Agriculture Minister Douglas Hogg is meeting EU Farm
Commissioner Franz Fischler as well as ministers from the other EU nations
to present London's case. The UK argues that the plan to kill 140,000 cows
judged to be at risk from BSE needs to be revised as new scientific data
indicate that the disease will die out within five years. The ministers
will also debate plans to support farmers hit by falling beef prices. One
proposal is to divert aid earmarked for cereal farmers to buy up more
surplus meat.
[02] Germany plans further welfare cuts
The German health minister, Horst Seehofer, has announced plans for another
round of welfare cuts. Hard on the heels of Friday's final parliamentary
approval of an austerity programme, Seehofer told a Sunday paper that the
decisions taken so far amounted to no more than a minimal programme. He
said much higher savings would be necessary, in the budget, in taxes, and
in health and pension insurance.
The news magazine Der Speigel said Bonn planned to save 6 to 7bn Deutsche
marks ($4.6bn) through cuts in unemployment benefits and reductions in job-
creation schemes in eastern Germany.
[03] Bossi declares indepenent state
The leader of Italy's separatist Northern League party, Umberto Bossi, has
declared an independent state of Padania. But only about 50,000 people - as
opposed to the one and a half million Bossi had predicted - turned up to
support his movement. In Milan, however, as many as 150,000 people attended
counter-demonstrations to support unity.
Some Bossi critics said that people aren't willing to support secession
just because they're frustrated with the Rome government.
[04] Bayer and Roche to announce joint merger
Germany's Bayer and Roche Holding of Switzerland are expected to announce
today a joint venture to sell over the counter drugs in the US. The deal
would join well-known but under-performing brands into one marketing
organization. Bayer is expected to exclude its aspirin line from the
venture. The move reflects the increasingly competitive battle for
drugstore shelf space and the consumer's attention in the over-the-counter
medicine market.
[05] Daimler Benz keep quiet over streamline rumour
The German industrial group Daimler Benz has refused to comment on a report
claiming that the company's chief executive Juergen Schrempp plans to the
streamline its management.
Today's edition of the weekly magazine Der Spiegel says Schrempp has put
forward a number of radical options. One proposal being considered is
thought to involve removing the management board level at Daimler's large
subsidiaries. Der Spiegel says such a move would be blocked by Helmut
Werner, the management board chairman of Daimler's Mercedes-Benz
unit.
[06] Wedgwood 'to take over Rosenthal'
A German report says the British porcelain manufacturer Waterford Wedgwood
is about to take over its German competitor Rosenthal.
Today's edition of the news magazine Focus reports that the two companies
have been negotiating for several months. According to Focus, the main
obstacle to the takeover is a limit on voting rights at Rosenthal, which
prevents individual shareholders from owning more than five percent of the
voting capital.
[07] Italy seeks STET compromise
The leader of the Italian Communist party, Fausto Bertinotti, has hinted at
the possibility of a compromise in the conflict over the privatisation of
the telecommunications holding company STET. Bertinotti had recently
threatened that a fight between his party and Prime Minister Prodi could
bring down the government -which relies on the Communists for its majority
in the lower house. The Communists are opposed to the government's plan to
privatise STET next February or March. But Bertinotti said the two sides
were now working on a compromise.
From the European Business News (EBN) Server at http://www.ebn.co.uk/
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