A Look At Economic Developments Around The Globe

The Associated Press

A look at economic developments and activity in major stock markets around the world Tuesday:

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PARIS — France's leading banks agreed to curbs on the way they award bonuses, including penalties for traders who lose money for their companies, as part of a push by President Nicolas Sarkozy for worldwide limits on bonus payouts.

Baudoin Prot, CEO of France's largest bank BNP Paribas, told reporters that the chiefs of six banks meeting with Sarkozy pledged to try to be "exemplary" in their bonus policies.

Meanwhile, a U.S. company and its French employees remained locked in a bitter dispute over the closure of an electronics plant, despite top-level government mediation, with managers vowing to keep the company closed until workers ease off their death threats.

Three-hour negotiations between executives of Illinois-based Molex Inc., an electronic components maker, and French Industry Minister Christian Estrosi brought no breakthroughs, with the company only promising to continue talks on salaries and the future of the plant.