FRANCE came under heavy fire on global markets yesterday reflecting fears that the eurozone’s second biggest economy is being sucked into the debt crisis after a warning that Paris’s inability to adapt should be “ringing alarm bells”.

US president Barack Obama, who quoted a new White House study suggesting that small businesses pay far more per employee for health insurance than big companies, said the disparity was “unsustainable” and “unacceptable”.

The US economy is showing “glimmers of hope” despite continuing stresses, President Barack Obama said today as he signalled more steps to improve the business climate.

Concerned about Hurricane Rita’s damage to coastal oil refineries, US President George Bush turned his attention to the nation’s energy industry as early economic indicators offered reason for optimism and a speedy recovery.