EADS cleared of insider trading
Defence and aerospace giant EADS was cleared of insider trading last night along with current and former executives. The probe was triggered after EADS suffered a 26 per cent fall in its share price in June 2006 after announcing worsening delays in deliveries of its A380 superjumbo. France's AMF regulator said it had not found any evidence that 17 people who exercised share options in the weeks and months beforehand knew about the problems threatening Europe's largest industrial project when they sold shares.
The news ended a three-year probe that has cast a pall over the group.
Dubai tries to restore reputation
Dubai scrambled to restore its reputation yesterday assuring investors that major property and leisure projects would go ahead as it dispatched two top officials on a public relations drive to Washington. Earlier this week, Dubai's wealthier neighbour and fellow member of the United Arab Emirates, Abu Dhabi, lent it $10 bn to meet Dubai World's obligations until the end of April and stave off a bond default by Nakheel, developer of its palm-shaped islands.
But confidence remains shaky, with syndicated lending at a five-year low
Eurostar drivers call off strike
Eurostar train drivers have called off a 48-hour strike after accepting a new offer in a row over expenses. About 70 drivers belonging to the union Aslef are still planning to walk out from midnight with further strikes planned for 26 and 27 December. The Transport Salaried Staffs Association said its 20 train managers would now be working as normal on Friday and Saturday.