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PARIS Air France-KLM is seeking compensation from Airbus for service disruptions caused by technical glitches affecting its fleet of A380 superjumbo aircraft, French daily Les Echos reported. The carrier wants compensation for the loss of revenue from grounding its fleet as well as inspecting and repairing wing cracks, which have led to delays and flight cancellations, Les Echos said on its website without citing sources. European air safety regulators this year ordered checks for A380 wing cracks in the entire superjumbo fleet after engineers found cracks in almost all planes inspected. The plan to inspect and repair Air France’s superjumbo […]

PARIS France’s Socialist government has checked that its plan to provide 7 billion euros in financial guarantees to the lending arm of ailing carmaker PSA Peugeot Citreon complies with EU rules, the government’s spokeswoman said on Wednesday. “We have checked that all this is Euro-compatible,” Najat Vallaud-Belkacem told a news conference after the weekly cabinet meeting. (Reporting By Elizabeth Pinneau and Julien Ponthus; editing by Daniel Flynn and Mark John)

BRUSSELS European Competition Commissioner Joaquin Almunia said on Wednesday he had not received notification of any French state aid for carmaker Peugeot, but that he would consider it. “We have not yet received any formal communication or notification on this issue, but of course once we will receive the information we will have to create a very careful assessment of what is going on,” Almunia, who regulates state aid in the 27-member European Union, told a news briefing. PSA Peugeot Citroen, Europe’s second-biggest automaker, said earlier on Wednesday it was nearing an agreement with creditor banks on 11.5 billion euros […]

PARIS France lacks both the mean and the will to properly tackle corporate bribery of foreign officials, an OECD panel said on Tuesday, calling on Paris to tighten its laws and hike fines. With only 33 bribery investigations and five convictions since a bribery ban came into force in 2000, France is failing to net enough offenders given French firms’ extensive interests abroad, the group monitoring an OECD anti-bribery pact said. “The applied and available penalties, along with the lack of any recourse to measures to confiscate the proceeds of corruption do not appear to be effective, proportionate or dissuasive,” […]

PARIS France wants PSA Peugeot Citroen to appoint government and worker representatives to its board, reduce job cuts and guarantee plants in return for a lending bailout, the country’s industry minister told Liberation. In an interview with the French daily, published on Tuesday, Arnaud Montebourg also said the struggling automaker should cancel “hundreds” of planned job cuts and guarantee the future of domestic plants. Peugeot is weighing a state-backed rescue for its lending arm, Banque PSA Finance (BPF), which funds Peugeot and Citroen dealers and car loans. Montebourg had already warned that any help would come with strings attached. In […]

MADRID France’s President Francois Hollande and German Chancellor Angela Merkel agree on the need for a clear and tight timeframe to build a European banking union, a French government source said on Thursday. The source had been briefed on talks between the two leaders before a summit of European Union heads of state and government in Brussels. “It was a discussion to check on the positions and see if we can reach a deal, and I think that’s the case… We’ll see how talks will go, but a deal is likely,” the source said on condition of anonymity. “There is […]

VALLETTA France and Italy led a call by five euro zone member states for the European Union to press ahead toward setting up a single banking regulator by the end of the year to be running in 2013. The leaders of France, Malta, Spain, Italy, and Portugal met in Malta on Friday at a summit with North African countries as part of the 5+5 group of Mediterranean countries. The leaders in a joint statement said the next European Council on October 18-19 “must pave the way towards the establishment of a single European banking supervision system, to be decided before […]

BERLIN/LONDON France and Germany have collided over the location of the headquarters for a new aerospace giant to be formed from a planned merger of Europe’s EADS and Britain’s BAE Systems , sources familiar with the matter said on Tuesday. France wants the group’s headquarters to be based in Toulouse, its southwestern aerospace capital where the Airbus planemaking subsidiary of EADS is based, but Germany is pressing for the group to be headquartered outside Munich, they said. The apparently incompatible demands constitute one of the hurdles that must be addressed in tough negotiations now getting under way in private, after […]

FRANKFURT France and Germany have agreed a common strategy for the planned $ 45 billion merger of Airbus parent EADS and Britain’s BAE Systems , a German magazine reported on Sunday. The plan foresees France and Germany each holding a 9 percent stake in the merged entity, which would be the world’s largest defense and aerospace company, Der Spiegel magazine reported, citing high level civil servants. The Franco-German agreement would form the basis for their negotiations with the British government in talks this week, the magazine added. A spokesman for German Economy Minister Philipp Roesler declined to confirm or deny […]

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