Stocks declined as soaring oil prices triggered concerns about inflation and consumer spending.
When Rene Obermann took over Deutsche Telekom at the end of 2006 he was tasked with the firm's struggling domestic operations. But his non-domestic challenges have been—and continue to be—plentiful.
Stocks performed a dizzying dance, sliding at the open, improving with economic reports and then doing a do-si-do with oil prices.
Stocks opened mixed Wednesday after a better-than-expected report on U.S. worker productivity. Oil hovered below $122 a barrel.
From the deadline for the Northern Rock bids to the rate decisions by the European Central Bank and the Bank of England, here are the events that have shaped this week:
France Telecom on Wednesday raised its cash flow outlook for 2008 as it posted a 3.1 percent rise in annual underlying profits, driven by resilient sales growth and rigorous cost control.
Deutsche Telekom scored a victory in a legal battle with rival Vodafone over sales conditions for the coveted Apple iPhone, which T-Mobile sells exclusively in Germany.
France is transitioning from an economy featuring extensive government ownership and intervention to one that relies more on market mechanisms. Many large companies have been partially or fully privatized, with the government relinquishing stakes in such big firms as Air France, France Telecom, and Renault. The government continues to hold major interests in the power, public transport, and defense industries.
The major European indexes closed in the red Friday as fresh record highs in the price of oil and a soaring euro versus the dollar gave rise to economic concerns. Banking stocks were among the worst performers, with the Dow Jones STOXX banking index down 1 percent.
Deutsche Telekom's mobile phone division, T-Mobile, will sell Apple's iPhone in Germany for 399 euros ($558) each, the companies said on Wednesday, but kept silent on details of the deal.
Spanish-owned O2 U.K. and mobile phone retailer Carphone Warehouse have clinched a long- awaited deal to bring Apple Inc's coveted iPhone handsets to Britain.
France Telecom on Thursday posted a better-than-expected 1.7% rise in half-year underlying earnings helped by solid mobile sales in emerging markets.
Spanish-owned mobile phone operator O2 has yet to sign any deal to bring iPhone mobile phones -- Apple's latest "must-have" gadget -- to Britain.
EU regulators fined Spain's Telefonica 151 million euros ($205 million) on Wednesday, claiming the company unfairly squeezed rivals by setting wholesale Internet prices too high to allow them turn a profit.
France Telecom shares fell Monday after the French Finance Ministry said it plans to sell a stake in the company worth up to 3.7 billion euros ($5 billion) to cut public debt.
France Telecom said Thursday that first-quarter revenue rose 1.8% paced by a good performance in its personal communications services business.