French utility giant EDF announces record losses for 2022

France — Link

EDF has announced yearly losses for 2022 of nearly 18 billion euros and debts of 64.5 billion euros, due in part to exceptional numbers of repairs to its fleet of nuclear reactors and a resulting drop in electricity production, a French government cap on energy prices for consumers, and EDF's legal obligation to sell electricity at a loss to smaller utility firms.  

Champagne makers bemoan sales 'catastrophe' brought on by virus

France — Link

Champagne producers estimate sales losses to now caused by the public restrictions to contain the Covid-19 pandemic, notably affecting group partying, the restaurant sector and entertainment businesses, amount to around 2 million dollars.

French carmaker Renault to cut structural costs by 2bln euros

France — Link

French carmaker Renault on Friday announced it would seek a cut in operating costs of 2 billion euros over the next three years, hinting at a major cull in jobs, after it reported net losses of 141 million euros in 2019, the first in a decade, due to lower sales and a falling contribution from its Japanese partner Nissan.

SocGen faces 2.2 bln tax break refund over its responsibility in 'rogue trader' losses

France — Analysis

In a ruling by the Versailles court of appeal on Friday, French bank Société Générale was found to have been in large part responsible for the 4.9 billion euros in losses attributed to the reckless trades of its so-called “rogue trader” Jérôme Kerviel in 2008. The court ruling concerned Kerviel’s appeal against the damages he was required to pay the bank, which until now was fixed as the entire sum of the losses, and which it reduced to 1 million euros. Mediapart economics and finance correspondent Martine Orange analyses here the many consequences of the ruling, not least of which is the demand that the bank now pay back a 2.2-billion-euro tax break it was granted as a result of the sums lost.

Paris terrorist attacks wipe 500 million euros off French economy

France — Link

Most affected is tourism sector, with Air France estimating losses of 50 million euros, while Bank of France says fourth quarter growth cut by 0.1 pcnt.

Air France-KLM group second-quarter earnings fall by 22 percent

France — Link

The group, which has posted net losses for the past four years, said it will cut routes, winter flights and shave administrative spending.

French nuclear giant Areva to axe more than 5,000 jobs worldwide

France — Link

Up to 4,000 jobs will be shed in France as part of cost-cutting plan that will include selling off assets, following four years of operating losses.

Air France-KLM losses widen as fuel costs rise

France — Link

The Franco-Dutch airline says it made a 1.19bn euros net loss in 2012, blaming sharply rising fuel costs and trouble with its cargo business.

Peugeot unveils historic 5 billion euro loss for 2012

France — Link

Result is the worst in the firm's history, but France's number one carmaker insists it has built foundations for recovery.

Air France flying into tough 2012

France — Link

Airline group Air France-KLM announced a net loss of 809 million euros for 2011, compared with a net profit of 289 million euros for 2010.