Business news, technology, media and finance reports

USA

US 'to sue' Standard & Poor's over ratings

The US Justice Department is expected to file civil charges against Standard & Poor’s Ratings Services, alleging that it wrongly gave high ratings to mortgage debt that later dropped in value in the run-up to the 2008 financial crisis.

AVIATION

Boeing requests Dreamliner test flights

Boeing Co has requested the Federal Aviation Administration for permission to conduct test flights on its 787 Dreamliner, raising speculation it has made progress in finding a solution to the technical issues that grounded the fleet last month.

FRANCE

Goodyear to close tyre plant in northern France

After five years of unsuccessful labour negotiations, Goodyear executives on Thursday announced a plan to close a tyre plant that employs 1,173 workers in the northern French city of Amiens. Goodyear described the plan as "the only option".

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ECONOMY

US economy shrinks for first time in three years

The US economy, affected by government spending cuts and sluggish inventory growth, unexpectedly shrank in the fourth quarter of 2012 for the first time since 2009, a marked slowdown from the 3.1 percent growth rate in the previous quarter.

AUTO INDUSTRY

French court halts Peugeot Citroen job cuts

A French appeals court has suspended a Peugeot Citroen restructuring plan that calls for 8,000 job cuts in line with demands from unions at parts subsidiary Faurecia, union lawyers said on Tuesday.

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France 24 reports from Davos

THE BUSINESS INTERVIEW

Sir Roger Carr, President, Confederation of British Industry (CBI)
THE INTERVIEW

Andrew Steer, President, World Resources Institute
THE BUSINESS INTERVIEW

Kirill Dmitriev, CEO, Russian Direct Investment Fund

PORTUGAL - REPORT

Portuguese youth determined not to give up in face of spiralling unemployment

Facing a desolate job market, young university graduates in Portugal are being forced to rethink their career plans. This FRANCE 24 report focuses on two young entrepreneurs adapting — with success — to the changing times.

FRANCE

France orders Twitter to identify racist users

A French court ruled Thursday that Twitter must help identify the authors of racist tweets posted on its site. The ruling follows a complaint brought by an activist group in October that argued such tweets breach laws against inciting racial hatred.

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EUROPEAN UNION

Tax on financial transactions approved for 11 EU states

EU finance ministers on January 22 approved a move by Germany, France and nine other EU nations to introduce a tax on financial transactions to help pay for a bailout of European banks and discourage risky trades.

TECHNOLOGY

Kim Dotcom launches new version of Megaupload

Megaupload founder Kim Dotcom launched a new file-sharing website on Sunday, an online service where users can upload and store files of all kinds. Within the first hours after the site went live, Dotcom said it had been met with “massive” response.

ECONOMY

Banks win more flexible liquidity rules from Basel

Global banking regulators agreed on Sunday to ease liquidity rules in an attempt to improve banks’ abilities to survive future financial crises, and gave them until 2019 to comply fully.

USA - FRANCE

Renowned French economist to join Obama’s team

France’s Esther Duflo, a star economist who was once named one of Time magazine’s 100 most influential people in the world, has been nominated by US President Barack Obama to help shape US global development policy.

GERMANY

Merkel warns of "difficult" 2013 for Germany and eurozone

Chancellor Angela Merkel warned that for Germany “the economic environment next year will not be easier, but more difficult" in her annual New Year address. Merkel also stated that the eurozone “crisis is a long way from being overcome”.

FRANCE

Struggling French shipyard lands $1.2 billion contract

A struggling French shipyard was thrown a lifeline Thursday after a US cruise company announced that it was ordering a massive luxury liner from STX France in a $1.2 billion deal. The contract is the shipyard’s first major order in nearly two years.

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FRENCH ECONOMY

France to slip behind UK in GDP ranking, study says

France is set to fall behind the UK in terms of GDP in 2013, according to an annual report by a leading British economic think tank, which shows emerging economies such as India and Brazil rapidly accelerating.