French heart prosthesis company Carmat is in a critical financial situation and will be at risk of insolvency by the end of this month, it said in a statement on Friday, Reuters reported. Carmat needs 3.5 million euros ($4.04 million) to avoid insolvency by the end of June, it said. It said that it is actively exploring financing options and is launching a campaign seeking donations through an online platform.
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French private sector activity contracted further in June, as weakness in both the manufacturing and services sectors hit the euro zone's second-biggest economy, S&P Global said on Monday, Reuters reported. The flash PMI for France's dominant services sector for June stood at 48.7 points, down from 48.9 points in May. The June flash manufacturing PMI came in at 47.8 points, down from 49.8 in May. The manufacturing sector was impacted by excess stocks among clients, challenging market conditions, and order postponements.
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In a dramatic twist emblematic of Europe’s telecom turbulence, Altice France SA, the country’s second-largest telecom provider, has filed for chapter 15 bankruptcy protection in New York, seeking U.S. court recognition of its French insolvency proceedings as it buckles under €19.2 billion ($22 billion) in debt, USA Herald reported.
The head of French carmarker Renault, Luca de Meo, is to quit "to take on new challenges outside the automobile sector,” the company said on Sunday, BSS News reported. "After five years leading Renault Group, Luca de Meo has announced his decision to leave his position," said a company statement, adding that his departure would take effect on July 15. According to Le Figaro newspaper, de Meo will become the new chief executive of French luxury group Kering, owner of Gucci, Yves Saint-Laurent, Balenciaga and other premium brands.
In the latest of a series of cross-border merger dramas, France’s BPCE is acquiring a 75% stake in Portugal’s Novo Banco from US private equity firm Lone Star, Euronews.com reported. The offer values the lender at €6.4bn, making the deal one of Europe’s largest banking transactions in recent years. It also reflects a recent wave of consolidation interest within the sector. The transaction is expected to close in the first half of 2026, subject to the necessary approvals from regulators and shareholders.
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A UK car charging company is to be rescued by French energy giant EDF, after a downturn in demand for electric vehicles (EVs) left it struggling to survive. On Thursday, EDF said that it would buy Pod Point in a cut-price deal to save the British company, the Telegraph reported. The energy giant said a takeover was the “only realistic prospect” of allowing Pod Point to keep operating. Pod Point, which has chargers available at places such as Tesco and McDonald’s, is the third-largest charging group in the UK, operating 5,600 fuelling stations, according to Zapmap.
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While the growing popularity of cryptocurrencies has enticed criminals around the globe — including in the United States — the spree of recent attacks in France has shocked many by their brazenness, brutality and copycat nature, the New York Times reported. The kidnappings were ultimately thwarted by the police or bystanders. The Paris police said 24 people were taken into custody on Monday and Tuesday in connection with the attempted kidnapping of a cryptocurrency entrepreneur’s daughter in Paris, which was captured in a disturbing video.
French inflation cooled more than expected this month, opening the door to an expected European Central Bank interest-rate cut next week, the Wall Street Journal reported. Consumer prices were 0.6% higher on year in May, down from 0.9% in April, according to EU-harmonized figures published Tuesday by France’s statistics agency Insee. The print gives the first indication of inflation among major eurozone economies. German and Spanish inflation data due on Friday are also expected to have shown declines in May.
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France’s industrial sector continued to book rising output, capping a positive start to a year that could nevertheless darken if U.S. President Trump’s trade tariffs bite into demand, the Wall Street Journal reported. Production from French factories and other industry increased 0.2% in March from a month earlier, in line with economists’ estimates, figures from the country’s statistics agency showed Tuesday. Following a 1% rise a month earlier, March’s increase helps reverse a monthslong streak of decline in the sector’s output.
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U.S. trade tariffs could lead to layoffs in French industries worst affected by the steep duties, a government minister warned, the Wall Street Journal reported. Job losses are “a risk,” industry minister Marc Ferracci told radio station France Inter on Wednesday. “If the U.S. tariffs are made to last, there will be an impact on jobs,” he said. “In terms of numbers, it’s difficult to assess the impact,” which will depend on exporters’ ability to translate tariff costs into higher prices, or absorb them into their margins, he said.
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