Paris

French shares sink after Asian deluge

Paris, FranceParis - French shares were down sharply in early trading on Monday following panic sell-offs on several Asian markets overnight.

At mid-morning, the CAC 40 index had lost 5.45 per cent, to 3,019.87, with 39 of its 40 listed stocks on the down side.

The bank Societe Generale was the biggest loser, off by 10.73 per cent, to 40.17 euros, while car maker Renault, which is drastically cutting back production, lost 7.88 per cent, to 20.45 euros.

High-speed train delayed after man gets arm stuck in toilet

High-speed train delayed after man gets arm stuck in toilet Paris - A high-speed TGV train en route to Paris was delayed for over two hours after a passenger got his arm stuck in the toilet, France Info radio reported on Monday.

The 26-year-old man found himself in this embarrassing - and painful - position after inadvertently dropping his cellphone into the commode.

When he tried to retrieve the device, he found himself trapped by the john's suction action.

Injured Gasquet pulls from Paris

Paris - Frenchman Richard Gasquet withdrew on the opening day of the Paris Masters on Sunday, citing an elbow injury.

14-year-old Morrocan rides a truck axle from Tangiers to France

Paris - A 14-year-old Moroccan boy rode 1,300 kilometres from Tangiers right across Spain to the French city of Biarritz hiding and clinging in the axle area of a truck.

Paris Bourse limits losses after hitting five-year low

Paris Bourse limits losses after hitting five-year low Paris - After falling to a five-year low, the Paris Bourse rebounded on Friday to limit its losses amidst anxiety about corporate earnings and OPEC's announcement that it will cut oil production by 1.5 million barrels per day.

The benchmark CAC 40 ended the session off by 3.54 per cent, at 3,193.79, after plunging more than 10 per cent earlier in the day to its lowest level since May 2003.

Car maker Renault was the day's biggest loser, giving up 12.55 per cent, to 22.20 euros, its lowest level in 10 years.

Many industrial nations heading for recession, OECD says

OECDParis  - It will take some time to recover from the current economic slowdown, and many industrial nations will eventually plunge into recession, chief OECD economist Klaus Schmidt-Hebbel said in an interview made public on Friday.

"Our base scenario is built on the premise that the current freeze in short-term financial markets will be resolved in a relatively short time span, but that bank deleveraging and recapitalisation, as well as re-building of trust in the markets, will take much more time," Schmidt-Hebbel said.

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