Arnaud Montebourg News
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Sanofi and the French government presented conflicting views on plans for the future of the drugmaker’s research site in Toulouse, adding another wrinkle in the company’s reorganization attempts.
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Dailymotion SA, a YouTube competitor, has come to symbolize all the contradictions in France Inc.
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For years, France sat on the sidelines while foreigners snapped up its most prized startups. So when Yahoo started circling Dailymotion, a smaller, French-born version of YouTube, the government put its foot down.
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The French government’s decision to block France Telecom SA’s sale of its Dailymotion SA unit to Yahoo! Inc. isn’t indicative of a harder stance against foreign investments, Industry Minister Arnaud Montebourg said.
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Yahoo! Inc.’s plan to buy a stake in France Telecom SA’s video site Dailymotion has stalled after a disagreement about the deal, according to the French government.
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France Telecom SA will resume its search for a partner for the video site Dailymotion SA as negotiations with Yahoo! Inc. collapsed after intervention by the French government, according to a person with direct knowledge of the situation.
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European stocks rose to a seven-week high as the European Central Bank lowered its benchmark interest rate, while companies from Royal Dutch Shell Plc to Bayerische Motoren Werke AG posted profit that beat analysts’ estimates.
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The European Central Bank should weaken the euro, confronting the new “currency war” head on to help address economic stagnation in the region, French Industry Minister Arnaud Montebourg said today.
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Petroplus Holdings AG’s Petit- Couronne refinery in Normandy will shut for good after a court rejected all offers for the crude-processing plant.
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Developing France’s coal-gas fields would be a profitable alternative to hydraulic fracturing, a practice banned by the government, European Gas Ltd. said.
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