World leaders on Thursday insisted that the United States credit crunch would not cause an economic crisis but stock markets across the world plummeted yet again as investors remained unconvinced. US Treasury Secretary Henry Paulson admitted that American growth will be hit but said the economy would weather the storm.
French presidential rivals Nicolas Sarkozy and SégolÃ¨ne Royal waited anxiously on Wednesday for a defeated centrist candidate, whose votes could tip next week's run-off ballot, to reveal his intentions. Francois Bayrou has come under intense pressure to throw the weight of his seven million voters behind either Sarkozy or Royal.
EADS co-chief executive Noel Forgeard was being questioned on Wednesday by France's parliamentary finance committee on why he sold millions of euros' worth of shares in the European aerospace group just before it announced delays in deliveries of its Airbus A380 superjumbo.
The joint head of European Aeronautic Defence and Space (EADS) rejected on Friday suggestions he had indulged in insider trading knowing the group would announce delivery delays for the Airbus superjumbo which have slashed the value of the business.