Pierre Moscovici, French finance minister, says Africa is a land of opportunities and France should increase its public and private investments in the continent.» Read More
The Swiss National Bank raised interest rates by 25 basis points on Thursday as inflation risks from the booming economy persisted but said it aimed to calm conditions on the money market, roiled by the global credit crisis.
Risks to global expansion have recently increased due to tensions in the U.S. subprime mortgage market and there are fears of growing spillovers to other segments, the European Central Bank said on Thursday.
European stocks closed higher on Wednesday, but uncertainty about the strength of the global economy still lingered and a series of political surprises caught investors off guard.
The European Central Bank lent commercial banks 75 billion euros ($104 billion) in three-month funds Wednesday, 25 billion euros more than in a previous operation last month, the bank said on its Web site.
The U.S. economy will slow next year amid continued trouble in the housing market, likely leading to lower interest rates, a senior International Monetary Fund official said Wednesday.
European Central Bank President Jean-Claude Trichet said Europe's financial system is sound despite the current market correction, but more needs to be done to improve future financial stability.
Societe Generale, France's second-biggest listed bank, said on Monday that its financial targets for 2007-2008 were unchanged despite experiencing difficult market conditions in August.
Euro-zone interest rates have further to rise, European Central Bank Governing Council member Axel Weber said on Friday, although other policymakers stressed no move is imminent given uncertainty over the credit crunch.
The eurozone finance ministers' chairman said on Friday French President Nicolas Sarkozy was neither noble nor correct to claim some of the credit for the European Central Bank's decision to keep interest rates on hold.
EU ministers and national experts are due to approve a genetically modified (GMO) sugar beet variety this month despite a long running dispute over the use of biotechnology.
The European Central Bank kept its key monetary policy rate flat at 4% on Thursday due to persistent turbulence in the financial markets because of fears of a spillover of the U.S. subprime crisis.
Another rise in euro-zone interest rates looked assured last month, but the turmoil in the credit markets has brought pressure on European Central Bank President Jean-Claude Trichet to keep rates at 4%.
A U.S. regulator said on Wednesday it has fined AXA Advisors $1.2 million for steering customers into brokerage accounts that triggered needless fees, once causing a customer's assets in an account to fall to zero.
The Bank of England broke its silence on Wednesday over the current storm engulfing world financial markets and took steps to bring overnight interest rates down.
Euro zone growth next year could be weakened by the credit crisis triggered by high-risk U.S. mortgage debt, the chairman of euro zone finance ministers, Jean-Claude Juncker, said on Wednesday.
French oil major Total has trimmed its average annual hydrocarbon output growth target for 2006-2010, blaming the impact of rising oil prices on some of its production-sharing agreements and project delays.
Britain Tuesday endorsed former French Finance Minister Dominique Strauss-Kahn over a former Czech central banker to head the International Monetary Fund in a contest seen as likely to go to the Frenchman.
A sharp drop in investment and government spending more than halved quarterly euro zone growth for April to June, but this is unlikely to stop further ECB interest rate rises as analysts expect the economy to pick up.
PSA Peugeot Citroen, Europe's second-biggest car maker, on Tuesday set a 5.5% to 6% operating profit margin target by 2010 as part of a recovery plan unveiled by its chief executive.
European stocks closed mixed on Monday in thin trading because of a national holiday in the U.S. and on anticipation of a busy week.