The boss of beauty company L’Oréal has said it is “crunch time” for Europe to boost its competitiveness and prevent a deepening of the continent’s economic divergence from the US.
Nicolas Hieronimus, chief executive of one of Europe’s biggest companies, with a market value of €186bn, called on political leaders to step up their support for industry, streamline regulation and boost productivity, noting Donald Trump’s moves to deregulate and foster growth in the US economy.
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