RENAULT SORRY OVER SPY CLAIMS - French car firm Renault has apologised to three executives it sacked over spying allegations. French prosecutors investigating the case found no evidence against them.
They were sacked in January over claims they were involved in selling Renault secrets. Investigators had been looking at links to bank accounts in Switzerland and Liechtenstein.
Siobhan Silke, a reporter with France 24 in Paris, said the story began in August when an internal investigation was launched by the car firm.
The three executives had been working on an electric car project and were suspected of leaking top secret information on it to middlemen who were selling the information to China. The French secret service became involved once the Chinese connection was mentioned.
The three had always protested their innocence. Prosecutors found no trace of the foreign bank accounts allegedly uncovered in the internal Renault probe.
The executives may now be compensated, while a Renault security agent was arrested on Friday at Charles de Gaulle airport. Ms Silke says prosecutors are investigating the issue and are looking into a payment by the company through its internal investigator to an alleged informant.
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DISASTER HITTING JAPANESE SHARES - Japanese shares closed more than 10% lower on the Nikkei today, with the index having earlier looked as if it would see its second worst day of trade on record.
Oliver Gilvarry of Dolmen said the Frankfurt DAX index was also likely to fall sharply today, mainly because of the presence of large reinsurance companies on the market.
He said the euro was starting to weaken slightly as people moved into safe haven currencies such as the US dollar.
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CURRENCIES - The euro is trading at $1.3928 and 86.35p sterling.
