French judges have filed preliminary charges of insider trading against Noel Forgeard, the former co-chief executive of aerospace group European Aeronautic Defense and Space, his lawyer said Friday.
The charges relate to delays in the A380 superjumbo program.
Forgeard was detained by French police Wednesday but released before the maximum 48 hours in detention expired. Regulators and judicial officials are investigating the possibility that up to 17 executives of Airbus and EADS knew as early as June 2005 that development costs and production delays at Airbus, particularly regarding the A380, would lead to a decline in profit.
That information should have prevented them from selling EADS shares, according to a document from a French regulatory agency. New York Times
Eastman Kodak Co. said it will raise prices as much as 20 percent on products including paper, film and printing plates to counter higher raw material costs.
The prices take effect July 1 and will vary by region, the Rochester, N.Y.-based company said Friday.
CEO Antonio Perez is trying to restore profit after a first-quarter loss. The increases hit products at the core of Kodak's business. Such products slipped to about 19 percent of sales last year as Kodak sold more digital cameras and inkjet printers. Bloomberg News