PARIS (Reuters) – Carrefour (CARR.PA: Quote, Profile, Research, Stock Buzz) has sold a 10 percent stake in its Brazilian business to billionaire Abilio Diniz, in a first step towards a possible separate listing, as Europe’s largest retailer looks to raise cash to accelerate growth in its second-largest market.
With its core French market on the mend, Carrefour head Georges Plassat has long said he wanted to speed up expansion in fast-growing Brazil and China, and that a flotation in Brazil was one of its funding options.
PARIS, Oct 30 (Reuters) – Events at Sanofi this
week cost a high-flying German-Canadian boss his job and global
investors billions. They are also a reminder that corporate
France carries the national interest in its DNA, and neglects
its family duties at its peril.
Chris Viehbacher, sacked by a unanimous vote of his board on
Wednesday, made the group into a multinational, a top five
global drugmaker with a footprint in over 100 countries.
Although Paris-listed, the firm has less than a quarter of its
employees in France, while a majority of its shareholders are to
be found outside the country.
PARIS, Oct 22 (Reuters) – Isabelle Kocher’s new role puts
her in line to head utility GDF Suez from 2016 but
right now no woman runs a French blue chip company. Along with
the rest of continental Europe, the country lags Britain and the
United States on gender equality.
Kocher, 47, was named on Tuesday as deputy chief executive
and chief operating officer at GDF Suez.
PARIS, Oct 14 (Reuters) – France’s prime minister sought to
defuse a row over road tolls and keep billions of euros of
motorway renovation work on track on Tuesday, meeting worried
concession bosses after one of his team threatened to slap a new
tax on them.
Government criticism of “excessive” tariffs and the profits
of toll road operators privatised under the previous
administration comes as the highly unpopular ruling Socialists
try to shake off accusations from the left that their efforts to
be business friendly are hurting household spending power.
PARIS (Reuters) – Air France put the total cost of last month’s two-week pilots strike at 500 million euros ($632 million) on Wednesday, wiping more than a fifth off its parent group’s estimated full-year core profit.
Air France-KLM (AIRF.PA: Quote, Profile, Research, Stock Buzz), Europe’s second-biggest network carrier by revenue, had already revised down its target for 2014 earnings before interest, tax, depreciation and amortization (EBITDA) in July from 2.5 billion euros to between 2.2 and 2.3 billion.
PARIS, Oct 8 (Reuters) – Air France put the total cost of
last month’s two-week pilots strike at 500 million euros ($632
million) on Wednesday, wiping more than a fifth off its parent
group’s estimated full-year core profit.
Air France-KLM, Europe’s second-biggest network
carrier by revenue, had already revised down its target for 2014
earnings before interest, tax, depreciation and amortisation
(EBITDA) in July from 2.5 billion euros to between 2.2 and 2.3
PARIS (Reuters) – With no deal in sight over pilot pay and up to 300 million euros ($380 million)(234.29 million pound) of strike costs to absorb, Air France-KLM may need to rethink its route to viability.
As the airline restored its flight schedule to 98 percent on Tuesday and pilots returned to work, its estimated cost of the two-week strike represents more than double the meagre 130 million euro operating profit of Europe’s second-largest network carrier by revenue last year.
PARIS (Reuters) – France on Thursday opened the door to possibly joining air strikes in Syria just hours after an Algerian Islamist group beheaded a French tourist in retaliation for Paris’ military action against Islamic State militants in Iraq.
France has repeatedly ruled out taking part in air action in Syria where Islamic State has its power base. It fears that strikes against militants there would leave a void that only Syrian President Bashar al-Assad’s forces could fill, making it difficult for “moderate” rebels to counter the more organized Syrian army.
PARIS (Reuters) – Laurent Rigault, 53, is a child of Club Mediterranee (CMIP.PA: Quote, Profile, Research, Stock Buzz). After his first stay with his parents in 1966 he became hooked on the experience – beach shacks, communal showers and all.
More recently he has shunned the resorts, like thousands of other holidaymakers whose decisions to head for alternative destinations has helped plunge the company into the red and left it to be fought over by two rival bidders.
PARIS (Reuters) – Former prime minister Alain Juppe joined the race to be the presidential candidate of France’s centre-right on Wednesday, posing a potential challenge both to a 2017 comeback bid by Nicolas Sarkozy and to the rise of the extreme right.
Juppe’s declaration on his Internet blog also came as Socialist President Francois Hollande’s government returned from its summer break to a stalled economy and an opinion poll showing more than eight out of 10 voters have no confidence in its ability to fix it.