It won clear control of one, Parisbas. That's why banking authorities had to step in to arbitrate. Still, it wasn't the complex financial maneuvering of the three banks that drew most attention. It was that the big banks didn't ask the French finance ministry its opinion on their plans until the very last minute. Samer Iskander, a correspondent for the Financial Times, says that stopped the government from weighing in on the deal, and ruffled some feathers.
Unions are concerned about the potential layoffs even though banks swear they'll be minimal.
In Paris, this Nick Spicer for Marketplace. And that's the top of our news for Friday, August 27th. Bill Poorman of Michigan Radio explains the logic and process of selecting a negotiations target. Week on Wall Street Marketplace host David Brancaccio and Dallas stockbroker and business analyst David Johnson sum up the week in the stock market. Russia Wants Your Nuclear Waste Russia's atomic energy minister says instead of relying on IMF loans, the country should process the world's nuclear waste.