Actor Gerard Depardieu's decision to establish residency in Belgium, which does not have a wealth tax, by buying a house just over the border with France, is "pathetic" and unpatriotic, French Prime Minister Jean-Marc Ayrault said on Wednesday.
Francois Henri-Pinault the CEO of luxury retail company, PPR spoke to CNBC's Maria Bartiromo about the US fiscal cliff and about the business and economic climate in France.
The accord to wind down a Franco-German power-sharing pact came weeks after talks broke down to merge the group with UK arms firm BAE Systems, taking advantage of the groundwork for the failed $45 billion deal.
The currency area's escape route hinges more on the pace of expansion in the United States and China, lifting the world economy, than on the policy mix in Europe, which will continue to favour austerity over growth in 2013.
The number of people out of work in France soared again in October to hit its highest level in 14-and-a-half years, piling pressure on Socialist President Francois Hollande who has promised to halt the relentless rise by the end of 2013.
François Hollande demanded on Tuesday that Lakshmi Mittal, the steel magnate, guarantee the long-term future of workers at a disputed plant in northern France or face the threat of a state takeover of the operations.
Plans by Arcelor Mittal to close two furnaces in North Eastern France have led to a bitter dispute, with one minister claiming the steel magnate is no longer welcome in France.
Jane Foley, senior currency strategist at Rabobank, tells CNBC that Moody's downgrade of France's credit rating from AAA to Aa1 may be the shock that France needs to turn around its economy and regain competitiveness.
High tax levels in France have recently made the headlines, whether it be regarding the new 75 percent income tax, or over celebrities leaving the country on a quest for tax havens. But France’s main tax issue may lie elsewhere, Fanny Combourieu, lawyer at SJ Berwin, a law firm specializing in tax law, told CNBC.
Two months after Bernard Arnault’s bid for Belgian citizenship shocked France, another major cultural figure has crossed the border in a quest for lower taxes.
Squawk Box Europe anchor Steve Sedgwick and Paris correspondent Stéphane Pedrazzi engage in a heated debate about whether a French wealth tax of 75% is justified.
PARIS, Nov 6- France is to grant 20 billion euros in annual tax credits to companies as a way of lowering labour costs, in a tougher-than-expected response to calls from business leaders to reverse decades of industrial decline. `` France is not condemned to the spiral of decline. `` France must win back its role as a great industrial power.''.
PARIS, Nov 6- France is to grant 20 billion euros in annual tax credits to companies as a way of lowering labour costs, in a tougher-than-expected response to calls from business leaders to reverse decades of industrial decline.
PARIS, Nov 6- France is to grant 20 billion euros in annual tax credits to companies as a way of lowering labour costs, in a tougher-than-expected response to calls from business heads to reverse decades of industrial decline.
PARIS, Nov 6- France's Socialist government unveiled measures to bolster the struggling industrial sector and make exporters more competitive but Tuesday's package fell short of the shock therapy industry leaders are urging.
PARIS, Nov 6- President Francois Hollande will unveil measures on Tuesday to revive France's struggling industrial sector and make its exporters more competitive, although critics say that the package falls short of much-needed shock therapy.
PARIS, Nov 5- French industrialist Louis Gallois called for a patriotic effort to reverse declining competitiveness via shock therapy as he handed in a review on Monday which the Socialist government commissioned and is now under pressure to heed.
GREEN BAY, Wisconsin- President Barack Obama and Republican Mitt Romney were back on the attack on Thursday, breaking a storm-induced campaign truce to hit the road and pound home their closing messages in the final stretch of a tight battle for the White House.
*Improved conditions do not change view Spain needs bailout. MADRID, Oct 31- The longer Prime Minister Mariano Rajoy puts off asking for aid from the euro zone, the greater the risk of further financial turmoil and an even worse recession in Spain, analysts say.
France is uncompetitive not only versus China, but against the rest of Europe, according to Pascal Lamy, director general of the World Trade Organization.