Lagardere wants to stay on EADS board despite share scandal
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Arnaud Lagardere, chief executive of the Lagardere group, insisted Monday he would stay on the board of directors at Airbus manufacturer EADS despite an ongoing insider trading scandal.
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A row over leadership at Franco-German company EADS culminates in co-boss Rainer Hertrich not renewing his contract in 2005.
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European aerospace group EADS has postponed until next week a board meeting on the future of the Airbus A350 XWB passenger jet programme, key shareholder Lagardere said.
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French Finance Minister Christine Lagarde said Societe Generale followed market rules when it unwound unauthorized transactions by a rogue trader in a move that cost the bank billions, but urged tighter controls on banks in France.
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German Chancellor Angela Merkel and French President Jacques Chirac are likely to discuss troubled aerospace group EADS  when they meet next week in Paris, but will not address issues better left to company management, a German government spokesman said.
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French interests named the head of Airbus, Noel Forgeard, to be one of two new pilots running the European aeronautics and defence group EADS after weeks of reported tension over his role.
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The German co-head of European defence and aerospace group EADS will step down when his contract expires next year. Last week Rainer Hertrich created a row over the leadership of the Franco-German group, saying
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Planemaker Airbus denied a media report Friday saying Chief Executive Christian Streiff had resigned and that his departure had been approved by parent firm EADS.Comment
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A row over leadership at Franco-German company EADS culminates in co-boss Rainer Hertrich not renew his contract in 2005.
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The government, goaded by presidential candidates into responding to large job cuts at the airplane maker Airbus, said it was ready to pump cash into the company and shake up a Franco-German power-sharing pact. Prime Minister Dominique de Villepin also called on the parent of Airbus, the European Aeronautic Defense and Space Company, to abandon paying a dividend this year to its shareholders, which include the French government, after announcing plans to cut 10,000 jobs. Some 4,300 of those jobs are in France. Mr. Villepin, above, said the government stood ready to participate if the holding company decided to tap its shareholders for more cash through a capital increase to shore up a company badly hit by delays to the new Airbus A380 superjumbo airliner. âThe state will play its role,â he said. However, EADSâs biggest private shareholder, the German car company DaimlerChrysler, has battled for years to prevent what it regards as state meddling.
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French Prime Minister Francois Fillon said Thursday that it was not the shareholder structure that was fundamental to the success of European aerospace giant EADS, but the organisation and management of the company.
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The newly designated EADS chief executive said in an interview published Thursday he backed the introduction of &quot;golden shares&quot; to allow Berlin and Paris to veto strategic decisions at the European aerospace giant.
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The board of troubled aviation firm EADS is meeting for the first time since announcing delays to Airbus production.
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Jean-Paul Gut, the chief operating officer at European aeronautics and defence giant EADS, said Monday he was stepping down from his post because of a disagreement over strategy.
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A French shareholder association said on  Monday it had filed a class-action lawsuit over the recent  share collapse of EADS . The suit was filed in the  Netherlands, where the Airbus parent group is registered.
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DaimlerChrysler  has placed a 7.5 percent stake in EADS  with a public-private consortium in a 1.5-billion-euro deal that maintains the Franco-German balance of power at the aerospace group.Comment
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No merger proposal has been submitted to the boards of French defense company Thales SA and European aerospace consortium EADS despite reports that the French government is interested in a linkup, German Economics Minister Wolfgang Clement said Tuesday.