A Look At Economic Developments Around The Globe

The Associated Press

A look at economic developments and stock market activity around the world Thursday:

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PARIS — France will limit or ban bonuses and stock options for executives at companies bailed out with taxpayer money, an official announced, as the government scrambled to calm public outrage at what some see as the greed that caused the global financial crisis. The measures are a response to rising discontent at executives cashing in bonus checks even as their companies are rescued with billions of euros (dollars) in public funds.

In one example, the top executives at natural gas and electricity company GdF Suez decided to give up their stock options, after the payouts prompted a strike by port workers that disrupted activity at the company's two liquefied natural gas terminals in France. In the country's latest sign of public anger at company bosses and the management of the financial crisis, terminal workers from the powerful CGT union called the strike to protest the payout of 1.13 million stock options to the company's two top executives.

Meanwhile, French workers released a manager of U.S. manufacturer 3M who had been held hostage for two days in a labor dispute over layoffs, the company said. Yet rising French unemployment and public outrage at employers and executives with high bonuses remained unabated.