According to statistics revealed on Thursday by Federation of French Wine and Spirits Exporters, French exports dipped 17% to Euro 7.74 billion last year. Expensive Champagne and cognacs export underwent a record loss following less consumption and further adoption of less expensive brands in the U. S. and Britain.

The industry group's Spokesperson Renaud Gaillard said the decline was largest ever annual loss since 2004. Exports, particularly of Champagne last year were recorded down 28% to Euro 1.6 billion indicating a drop of 22% to

French luxury group PPR will carry on Alexander McQueen's fashion label after the British designer's death, last week.

"This would be the best tribute that we could offer to him", said Francois-Henri Pinault, President of the group.

Atos Origin has no intentions of slowing down, despite being in the middle of the worst global economic slowdown, and seeks to boost its margins in the economic crunch. The firm is targeting a big expansion of its payment transactions business in the next three years.

Year 2009 saw profits rise for French IT services firm Atos Origin, reporting a rise 8.5 per cent to €196m from €181m in 2008, thanks to a strong performance by its UK operations.

Reserving lesser money for bad loans, BNP Paribas, has reported a remarkable profit in its fourth- quarter of 2009.

The bank's net income was reported to be 1.37b Euros, in the fourth quarter.

Reporting this profit, BNP Paribas, not only moved out of the huge financial crisis, but also, emerged as the largest French bank; buying Fortis's banking units in Belgium and Luxembourg for 10.4b Euros, last year.

The niece of British Defense Minister Quentin Davies, Jessica Davies faced the murder trial in France on Monday accused of killing her lover during a frenzied sex game. The accused is alleged believed to have slashed the throat of a man she grabbed from a pub.

The accused, Jessica Davies, 30, is a former model, and has been accused of killing Olivier Mugnier, 24, while under full influence of alcohol and anti-depressant drugs.

British drug maker AstraZeneca announced Wednesday that it would acquire French drug developer Novexel in a deal worth $505 million.

Under the deal, AstraZeneca will pay $350 million anti-infection group Novexel's shares and another $80 million for its cash.

The British drug maker will pay further $75 million if specific targets in the development of its drug programs are reached.

Britain received a much-needed boost yesterday with France’s announcement that Paris would also introduce super-tax on bankers' bonuses to rein in high level of financial sector pay packages.

Earlier on Wednesday, Britain slapped banks with a punitive one-time, fifty per cent tax on bonuses more than 25,000 pounds.

One French Government official said that bonus tax had been under consideration for some time but there were concerns that it could damage Paris as a financial centre.