France

Financial News

Iliad, France Telecom CEOs Press Senators to Cut `Absurd' Public TV Taxes France Telecom SA, Vivendi SA and Iliad SA are pressing French lawmakers to cut a proposed tax on phone and Internet providers, threatening to raise prices for consumers in the middle of the recession.

Euro Rises on Speculation ECB Rate Cuts to Lag Behind Other Central Banks The euro rose against the dollar and the yen on speculation the European Central Bank will avoid trimming interest rates as low as its major counterparts.

Ukraine Says Russia Severs Gas Supplies as Dispute Worsens, Europe Freezes Russian natural-gas exports through Ukraine to Europe halted for the first time in three years, threatening to create shortages as freezing weather spurred demand for power.

Sarkozy Says France to Make More Money Available to Banks to Lift Lending French President Nicolas Sarkozy said France will make more capital available to banks, which he said are bound to require more funds.

European Stocks Fall for First Time in Seven Days; Commerzbank, E.ON Drop European stocks retreated for the first time in seven days on speculation deteriorating earnings will overshadow government efforts to revive the global economy. U.S. index futures fell, while shares in Asia advanced.

ArcelorMittal, ThyssenKrupp to Write Down Assets as Demand Drops, RBS Says ArcelorMittal and ThyssenKrupp AG, Europe’s biggest steelmakers, may write down the value of assets in coming quarters after demand for the metal declined, according to Royal Bank of Scotland.

Sodexo Says First-Quarter Sales Advance 5.6%, Confirms Full-Year Targets Sodexo, the world’s second-largest catering company, reported a 5.6 percent climb in first-quarter sales driven by gains in education and health care and stuck to annual goals for revenue growth and profit.

General News

Electricity Consumption Hits Record; EDF Tells Some Clients to Limit Use French power demand reached a record yesterday amid a cold snap that prompted Reseau de Transport d’Electricite, the grid unit of Electricite de France SA, to import electricity from other European countries and warn customers to limit consumption in two regions to avoid cuts.

Bourbon Says Hostages Seized Off Nigerian Coast Are Free, in Good Health Bourbon SA, the owner of the world’s biggest fleet of supply ships for deep-water oil exploration, said that the nine hostages seized by gunmen off Nigeria’s coast have been freed.

French Yachtsman Jean Le Cam Rescued Off Cape Horn by Fellow Racer Riou Jean Le Cam, a French yachtsman whose boat capsized off Cape Horn in the Vendee Globe solo round-the- world competition, was rescued yesterday evening by fellow racer Vincent Riou.

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