French Prime Minister in search of trade opportunities in Algeria Business Daily

well let's start with the markets in Europe which have just opened this morning yeah that's right soft opening this Tuesday all the main European markets opening in the red the French banks one sector that are all down in trading so far this morning this after of course the warning from research market yesterday that France might be heading for another recession new car sales in the EU saw their third consecutive monthly rise in November up 0.9% according to new figures that's affecting as you might imagine car makers shares Fiat just one picked out for you down just slightly on those figures but finally sign of recovery in the European car industry now over in Asia it was fairly modest days trading as well the highest gains on the Nick of just over 8% now the continuing will they won't they speculation about what the America's federal reserve will do with its monetary stimulus program should be resolved pretty soon they meet later this Tuesday and we may get decision on what they're going to do on their tapering program over in Shanghai shares were down as investors worried about lack of liquidity towards the end of the air next to Algeria where the French prime minister is trying to to secure new trade ties yeah France used to be algeria's top trading partner they lost that top spot to the Chinese in 2012 Jean Maro has gone to Algeria with nine ministers and 80 Business Leaders trying to regain that business regain that top spot and drum up some business for France there are currently 450 French companies operating in Algeria employing some 40,000 people there now it's important market for France French prime minister very keen that this country should gain from algeria's continuing economic growth France does not just want to sell Algeria products and Equipment France also wants to create joint ventures what we call our colocalization I.E investment jobs are created here but that develops and strengthens jobs in France and this is quite different from what happens with China to Brussels next where min miners are taking another stab at reforming the banking sector yeah they're back at it again after last week's meetings they're back in Brussels starting with the Euro zones Finance ministers later this Tuesday they'll be joined by their colleagues in the rest of the European Union tomorrow now what they're trying to do is hammer out details of how failing banks in the EU should be wound up if they're found to be in that situation The Proposal currently on the table will create fund over the next 10 years which will deal with those Bank debts but potentially States could be still left on the hook for the for years to come and ministers need to make that agreement before Thursday ahead of meeting of EU leaders French Finance Minister Pierre mov speaking this morning said he thinks they will have deal in time for that European Council now it's time for some of the day's company news yeah we'll start with Boeing the aircraft maker has announced A10 billion buyback of its shares they're also increasing their dividend by 50% to 73 cents per share the company says it's mark of confidence in its own future the going boss of General Motors has said taxpayers did benefit from bailing out the car maker that's despite losses of more than 10 billion dollars the US government incurred on the deal Dan Akerson will be replaced by product development Chief Mary Bara who will be the company's first female chief executive and British government report says the UK should consider building new runways at London's Heathrow and Gatwick airports the airports commission says the southeast of England needs another Runway but for flights by the end of 2030 but the interim report rejected the idea of building new airport on an island in the Ester dub bis Island because of the proposal coming from London's mayor Baris Johnson now here in France struggling shops have been doing their best to keep up with on online retailers yeah the High Street retailers suffering really at the hands of the likes of Amazon big online retailers seven out of 10 French people say they'll be doing some of their Christmas shopping online this year so fighting back the traditional shops are doing their best to innovate to compete with their online Rivals has the story during the busy holiday season big online retailers like Amazon can send out up to 700,000 products day faced with such stiff competition traditional retailers are fighting back magician's outfits and magic kit I'll get that for you French retailers are catching on to what they call click and collect shopper can can order items on the store's website and then pick up the merchandise in store avoiding shipping fees with 7even out of 10 French Shoppers planning to buy online this holiday season retailers know they must do more to woo these customers one town has come up with novel approach in puon valet in the local shops have banded together to create their own ecommmerce site watches musical instruments shoes each owner photographs their way it takes time but it makes the shops money the sales made they were at my store instead of one of the big online shoe websites customers say they're happy to support the local businesses in France three other towns are following in P's footsteps and taking on the Giants of e-commerce and that's unfortunately all we have time for for business today with Steven Carrol we will find you again tomorrow now on to the international press review with Florence