The Strasbourg court in charge of selling troubled French steelmaker Ascometal has raised questions over public funds as part of the bid by UK-based metals and industrials firm Liberty House, a union representative at the hearing told Reuters. Asked about the court’s questioning of the bid’s funding, a spokesman for Liberty House said: “We are requesting no support from the State. We have been offered carbon refunds that are available to all businesses. Regional funding supports our growth plan ...

Emmanuel Macron’s attempts to revamp France’s labour market will spur economic growth and boost confidence but their impact will take time to have an effect, according to a Financial Times survey of eurozone analysts. The poll of 34 economists conducted this month also found that most believed a new “grand coalition” government in Germany would help the eurozone to continue its recovery — but Italy’s impending election was seen as one of the biggest risks.

Troubled French steelmaker Ascometal has drawn interest from four potential buyers, union officials said on Tuesday, with commodity group Liberty House and Swiss steel firm Schmolz + Bickenbach confirming their interest, Reuters reported. Ascometal, which employs more than 1,300 people, filed for court protection last month after weak steel and oil markets in the past two years undermined an attempted recovery following a previous buyout in 2014.

The creditors of debt-ridden oil services group CGG have accepted CGG’s chapter 11 bankruptcy plan, CGG said on Monday, in what could form one of the biggest restructurings that France has seen in recent years, Reuters reported. CGG has debt in excess of $3 billion, and the restructuring calls for unsecured debt to be converted to equity, maturities on secured debt to be extended and $500 million in new money to be raised.

The French government has decided to nationalise the STX France shipyard in an ownership standoff with Italy, Le Monde newspaper reported on Thursday. The Economy Ministry would not comment on the report when asked by Reuters, but said it would hold a news conference on the subject at 3:00 pm (1300 GMT). Economy Minister Bruno Le Maire had given the Italians until Thursday to accept an offer for 50/50 ownership of the shipyard, brandishing the threat of a temporary nationalisation to buy time to find another solution if the offer were rebuffed, Reuters reported.

PSA Group said on Wednesday it had reached agreement with the French government over the carmaker's contribution to a rescue plan for struggling supplier GM&S, defusing their public stand-off ahead of a key bankruptcy hearing, Reuters reported. The government also confirmed it had dropped its demands that the maker of Peugeot, Citroen and DS cars contribute a 5 million euro ($5.8 million) "modernisation" grant to the metal parts supplier on top of a 50 million euro purchasing pledge.

French carmaker PSA Group is resisting government demands that it raise a bailout offer to struggling supplier GM&S, ahead of a Wednesday bankruptcy hearing that may decide its fate, Reuters reported. The threat to GM&S and its 277 jobs is in the political spotlight, as a first industrial policy test for new President Emmanuel Macron's government. Finance Minister Bruno Le Maire, who took office in May, is pushing for up-front grants of 5 million euros ($5.8 million)from PSA as well as rival Renault, with a matching contribution from the French state.

Tati, the iconic cut-price shop whose historic store stands near Paris's Sacre Coeur monument, is to be sold to domestic rival Gifi, said a lawyer involved in Tati's restructuring process, Reuters reported. Thomas Hollande, the son of former French President Francois Hollande who was acting as a lawyer for Tati's employees, said the deal would save the bulk of jobs at Tati and keep the brand alive. "This offer will let around 85 percent of staff stay on, which is more than most could have hoped for," Hollande told reporters. The full financial terms of the takeover were not disclosed.

French oil services firm CGG said on Wednesday it had filed for bankruptcy in France and the United States as part of financial restructuring to reduce its debt burden. The company, in which the French state public investment bank Bpifrance Participations owns a 9 percent stake, said the restructuring would eliminate $1.95 billion in debt from its balance sheet, Reuters reported.

France’s industrial sector unexpectedly contracted in April, after a particularly severe drop in manufacturing output, highlighting the challenges still facing new president Emmanuel Macron despite the recent economic pickup across the eurozone. Total industrial output fell 0.5 per cent over the month, in contrast to forecasts of a 0.2 per cent rise, the Financial Times reported. The surprise contraction brought the year on year growth figure down to 0.6 per cent, from 2.5 per cent the previous month.