Riots in France cost businesses more than $1 bln euro

A week of rioting across France has already caused more than €1 billion in damage to the country's businesses.

The Movement of the Enterprises of France (MEDEF), the country's main employer's federation, said the repair bills would total over €1 billion.

MEDEF president Geoffroy Roux de Bezieux said the organisation had recorded the lootings of 300 banks, 250 street kiosks and 200 larger shops.

"It is too early to give you the exact figures yet, but we're talking here over one billion euros, not including tourist industry losses," Roux de Bezieux said.

He noted that as of the beginning of July, foreign tourists have canceled 20-25% of planned trips to Paris.