Abu Dhabi, the oil-rich sheikhdom that’s transforming itself into a business and cultural hub, awarded a contract to build a branch of the Louvre museum on an island off its coast after a property crash resulted in delays.
French presidents, like the nation’s kings before them, have a tradition of commissioning grandiose monuments to be remembered by. That may end with the current occupant of the presidential Elysee Palace.
Drake & Scull International PJSC, a Dubai-based construction company, plans to bid for construction work on the Louvre museum in Abu Dhabi as the Persian Gulf emirate resumes work on suspended projects.
Vivendi SA Chairman Jean-Rene Fourtou pledged a full strategy review to convince investors the telecommunications-to-media company can see through asset sales to refocus its business a year after first saying he’d do so.
France is starting a search for the Jewish owners of about 2,000 pieces of Nazi-plundered art, from Monets and Rubens to Renoirs, that hang in museums such as the Louvre and the Musee d’Orsay in Paris.
Former Nasdaq Stock Market Managing Director Donald Johnson pleaded guilty to using information gleaned from his position with the exchange to engage in insider trading, the U.S. Justice Department said.