German Chancellor Angela Merkel pressed France to pursue an economic overhaul in return for getting more time to cut its budget deficit, a task French President Francois Hollande said nobody will dictate to him.
Arnaud Montebourg, the French industry minister who last year addressed a labor conflict by saying the world’s largest steel company was not wanted in France, is laying out the welcome mat for foreign investors.
The French government should focus on improving the economic environment and avoid interfering with companies’ strategies and management, Laurence Parisot, head of the French employers’ association, told Les Echos in an interview.
President Francois Hollande’s threat to nationalize an ArcelorMittal steel plant, while saving 600 jobs, may curb the creation of new employment by reinforcing France’s notoriety as a difficult place for business.
Edouard Martin was certain he and about 600 workers would keep their jobs at ArcelorMittal’s steel plant in eastern France after President Francois Hollande floated the idea of nationalization to prevent a planned shutdown in late November.
A 16.2 million-euro ($21.6 million) bonus awarded to Publicis SA Chief Executive Officer Maurice Levy has become the latest battleground for French presidential candidates in a campaign that has yet to galvanize many voters.
French business leaders and three unions reached an accord that economists say marks the beginning of President Francois Hollande’s effort to revamp the jobs market while falling short of a labor revolution.