Glencore International AG, the world’s largest commodities trader, has mandated three banks to study a possible initial public offering that may take place around the second quarter of this year, French daily Les Echos reported, without citing anyone.
French banks oppose firewalls between consumer and investment banks and prefer a version of the so-called Volcker rule used in the U.S. that would ban commercial lenders from proprietary trading, daily Les Echos said, citing Credit Agricole Chief Executive Officer Jean-Paul Chifflet.
Vattenfall AB of Sweden, Rhodia SA, ArcelorMittal and Societe Nationale des Chemins de Fer Francais plan to announce in January an alliance that will seek to win French hydroelectric dam operating licenses, Les Echos reported.
Sales of electric cars in France reached 1,594 in the first four months of 2012, accounting for less than 0.2 percent of the automobile market, Les Echos reported, citing Mediterranean electric car association Avem.
The French government is studying a possible increase of the 5.5 percent sales tax, which applies to hotels and restaurants, as it seeks to cut debt, the Les Echos newspaper reported, without saying where it got the information.