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Crédit Agricole plans €5.9bn rights issue
Crédit Agricole announced that it was planning a €5.9bn rights issue following further writedowns at Calyon, its investment banking unit
SocGen makes further €1.2bn writedowns
Jean-Pierre Mustier said he would stay in charge of the investment banking division at Société Générale, after the unit reported fresh writedowns of €1.18bn
Staples may turn hostile on Corporate Express
Staples, the US office supplies company, raised its indicative offer for Dutch rival Corporate Express by 10% and said that it was prepared to launch a hostile bid
Fortis profit falls on further writedowns
Fortis, the financial services group, unveiled a bigger-than-expected fall in first quarter profits following further writedowns related to the credit market
Fresh delays for A380 deliveries
Airbus has told airlines waiting for first deliveries of the A380 superjumbo that there will be yet more delays, as it faces renewed difficulties in bringing the world’s biggest commercial jet into series production
Further delays likely at Kazakh oil field
The start of production at one of the world’s biggest oil fields faces further delays as oil companies developing it battle with the Kazakh government over timing and budget
Hiscox shift helps first quarter figure
Hiscox said a shift from underwriting “big ticket” insurance, such as terrorism or risks in the energy sector,towards less complex retail protection had helped it avoid a damaging first quarter in the insurance sector
Lycos Europe searching for US buyer
The company, a vestige of one of the first internet search engines, is touting itself as a possible acquisition target for a US media or telecoms group seeking scale in Europe’s fragmented online markets
Carphone off Tiscali buyer list
Carphone Warehouse, the UK’s third largest broadband provider, on Monday suffered a significant setback when it was excluded from a shortlist of would-be buyers of Tiscali, the Milan-listed internet company
Renault and Nissan to launch low-cost car
Renault, Nissan and Bajaj Motors are to jointly build a $2,500 car to compete with Tata Motors’ Nano cut-price family model





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