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Apr 16, 2014

Three European firms win Angola deepwater deals worth $7.5 billion

PARIS (Reuters) – Three European companies have won contracts for almost half the value of Angola’s $16 billion ultra-deepwater Kaombo oil project, confirming a trend toward bigger scale and risk for the deep-sea contracting and construction sector.

Saipem (SPMI.MI: Quote, Profile, Research, Stock Buzz) of Italy announced a $4 billion contract related to fitting out and supplying two converted oil tankers to become the Floating Production Storage and Offloading (FPSO) part of the project.

Apr 15, 2014

Hedge fund to force shareholder vote on Nexans CEO

PARIS, April 15 (Reuters) – Nexans shareholder
Amber Capital said it plans to force a vote on a resolution to
push Chairman and Chief Executive Frederic Vincent off the board
at the cable maker’s annual shareholder meeting on May 15.

Nexans made a loss in 2013 and skipped its dividend for the
year after being forced to raise new share capital in October,
blaming a lack of growth in Europe and industry overcapacity.

Apr 14, 2014

China Inc joins the big league in oil and gas services

April 15 (Reuters) – Global oil companies are increasingly
turning to China for services and equipment, attracted by lower
costs and a newly acquired expertise that is challenging more
established rivals.

State-run and privately controlled Chinese rig makers, oil
and gas services and engineering firms are showing up in the
supply chain everywhere from the Middle East, the North Sea and
North America to frontier areas like Mozambique.

Apr 10, 2014

French antitrust watchdog probes Roche and Novartis over eye drug

PARIS/ZURICH, April 10 (Reuters) – France’s competition
authority is investigating drugmakers Roche and
Novartis on suspicion they were involved in
anti-competitive practices in relation to eye disease
treatments, the companies said on Thursday.

This is the second time in as many months that the Swiss
drugmakers have faced regulatory scrutiny over treatments for
wet age-related macular degeneration (AMD)- a leading cause of
blindness among the elderly.

Apr 8, 2014

‘Bonapartist’ French remain chary of Anglo-Saxon business trends

PARIS (Reuters) – Things are changing in France’s business world. One in 10 top listed firms has a foreign boss, all report earnings in English, and a recent bid battle showed that state influence doesn’t always trump the business interest.

But if you think that signals the end of the Gallic sneer at “Anglo-Saxon” ways – the free-market bent of the Americans and British – last week’s promotion to economy minister for the interventionist Arnaud Montebourg is a reminder that laissez-faire government remains, in France, a linguistic irony.

Apr 2, 2014

France’s Royal offers Hollande her ‘green’ credentials

PARIS (Reuters) – Former French presidential candidate Segolene Royal brings green credentials, a high profile and strong political ambition to her new role as energy and environment minister at a crucial time for industry and government.

The naming in Wednesday’s government reshuffle of Royal, an ex-partner of President Francois Hollande, is seen partly as an attempt to maintain Green Party support for an unpopular Socialist government with a thin parliamentary majority.

Mar 26, 2014

Plane, car deals mark Chinese state visit to France

PARIS (Reuters) – China’s President Xi Jinping and French counterpart Francois Hollande oversaw the signing of a series of industrial co-operation deals and multi-billion dollar aircraft sales in Paris on Wednesday, the business highlights of a Chinese state visit.

Much of what was signed had only ceremonial significance.

However, Hollande’s government, bruised by losses in last weekend’s municipal elections and deeply unpopular for its failure to tackle record unemployment, hopes to encourage more deals and harness France’s patchy economic recovery more tightly to the growth of the world’s second-largest economy.

Mar 26, 2014

Car, plane deals to get Franco-Chinese presidential treatment

PARIS (Reuters) – China’s President Xi Jinping and French counterpart Francois Hollande are set to oversee the signing of two industrial co-operation deals in Paris on Wednesday, the business highlights of a meeting that carries a strong investment theme.

Chinese carmaker Dongfeng is set to deepen ties with PSA Peugeot Citroen, buying a 14 percent stake as part of a recapitalization deal for the struggling French carmaker.

Mar 25, 2014

Business first as China visit kicks off in France’s silk city

PARIS, March 25 (Reuters) – France will use a visit from
China’s President this week to seek tighter business links to
the world’s number-two economy in a bid to boost its own anaemic
one, signing big-ticket industry deals and working to cut its
trade and investment deficits.

Xi Jinping’s three-day tour starts on Tuesday in the south
eastern city of Lyon, where Chinese silk-making skills took root
in the 15th Century. Technology transfer now flows firmly in the
opposite direction, and business diplomacy around products
ranging from cars to cooked meat is set to dominate the visit.

Mar 17, 2014

Thousands fined as Paris curbs car use for a day

PARIS (Reuters) – Paris enforced the most drastic traffic curbs in 20 years on Monday, fining almost 4,000 drivers who tried the dodge them, but stopping at a single day of restrictions as cooler weather brought relief from pollution.

Transport chiefs made public transport free in the French capital, while drivers with even-numbered license plates were told to leave their cars at home.

    • About Andrew

      "Andy leads the London-based team that edits company news copy from around Europe, the Middle East and Africa and supports EMEA Companies Editor of Charge Chris Wickham. Andy is a newswire "lifer" with experience in reporting and editing in London, Singapore and Paris. A one-time oil industry specialist, his first industry job in the early 1980s was collecting pepper and banana prices for Agence France Presse."
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