GENEVA, Dec 8 Swiss food giant Nestle on Tuesday said it was reducing its stake in French cosmetics group L’Oreal, selling shares worth €8.9 billion (RM42.4 billion). Nestle said in a statement that 22.26 million of its L’Oreal shares were sold for €400 each, adding it “remains.
FRANCE
<strong>Bank upbeat on economy</strong>
Economic activity is forecast to continue rising this month, despite another wave of the COVID-19 pandemic, the Bank of France said. Completed at the end of last week, the central bank’s monthly survey of 8,500 firms is the first indicator of how businesses in the eurozone’s second-largest economy are faring since the Omicron variant of SARS-CoV-2 emerged. Based on their responses, the institution estimates economic activity was 0.5 percent above pre-crisis levels last month and would be 0.75 percent higher this month. That means output for the whole fourth quarter would also expand by almost 0.75 percent.
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