ArcelorMittal to invest in French steel site, keep jobs
PARIS (Reuters) - Steelmaker ArcelorMittal (ISPA.AS) will invest 180 million euros in its Florange steelworks in northern France under a deal with the government to save jobs at two shuttered blast furnaces, Prime Minister Jean-Marc Ayrault said on Friday.
Ayrault said the investment, to be made over five years, meant there would be no layoffs at the site, although the two blast furnaces would not be restarted for now given flagging demand for steel in Europe.
"The government decided against the idea of a temporary nationalization," Ayrault told reporters, three hours before a midnight deadline to strike a deal, adding: "There will be no redundancy plan."
FRANKFURT - The Federal Reserve Bank of New York has found serious problems in Deutsche Bank AG's DBKGn.DE U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, people close to the matter told Reuters.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.