PARIS—French President Francois Hollande threatened Tuesday to nationalize a plant owned by steelmaker ArcelorMittal in an increasingly heated dispute in which ministers have said the multinational is no longer welcome in the country. Moments before talks steel tycoon Lakshmi Mittal, Holland said that nationalizing ArcelorMittal’s plant in northeastern France remained on the table. [...]
NEW DELHI, India—London’s mayor joked that revolutionaries had taken over Paris and told India’s investors Tuesday to look to the British capital instead, amid a row between the French government and India-born tycoon Lakshmi Mittal. On Monday French Industrial Renewal Minister Arnaud Montebourg said he did not want steel giant ArcelorMittal, controlled by Mittal, [...]
WASHINGTON—The US Treasury announced Friday that it would not implement the Basel III rules for strengthening banks on January 1, saying the banks were not yet ready to meet the tougher capital standards. “Many industry participants have expressed concern that they may be subject to a final regulatory capital rule on January 1, 2013, [...]
HONG KONG—Asian markets fell on Friday, extending their losses from the previous day as fears the United States is headed for another economic crisis sent Wall Street diving again and dealers running. The yen remained elevated after Barack Obama’s re-election as US president stoked concerns of political gridlock in Washington with a “fiscal cliff” [...]
NEW YORK—Google’s shares plunged Thursday after a surprise drop in earnings in a prematurely released quarterly report, but while the Nasdaq sank the Dow avoided being pulled down as well. Google shares closed down 8.0 percent at $695.00, rebounding slightly after hitting a 10 percent floor earlier following the unintended release of its disappointing [...]
WASHINGTON – Conflict and violence are holding back global economic growth and trapping 1.5 billion people in dire poverty, the World Bank said Sunday, calling for an international effort to break the cycle. In countries affected by repeated cycles of political and criminal violence, poverty rates are 20 percentage points higher than in other countries, [...]
