Norway
Invasion! German infantry and armoured units landed southwest of Oslo commencing the German invasion of Norway. The defending Oslo garrison inflicted a 2 step loss on the attacking German infantry suffering only 1 step loss itself. Local reinforcements made good this loss.
The French Atlantic Battleship Squadron valiantly sailed right into the Denmark straight and attacked the German Battleship supporting the invasion forces inflicting a satisfying 5 step loss on the Germans for 2 step taken in damage.
The RAF Squadron based in Norway was recalled back to England for repairs and home defense.

Atlantic
German U-boats disengaged from the battle in the North Sea, allowing the remaining French forces to interdict the German invasion of Norway.
A British Battleship redeploying to Glasgow stumbled upon a German U-boat just off the Scottish Coast and inflicted a multi-step loss upon it. British carrier-borne aircraft also engaged it and by the end of the day the German U-boat was down to 3 steps.
The British Admiralty is tracking 88 PP's of convoys inbound at this time.

France
The organisation of the French command structure for the Maginot Line is expected to be completed in the next three weeks. Aerial reconnaissance shows a number of German units near the border with Holland, however it could be seen that some were still un-repaired.
Garrison troops started deploying to the S/E of France to head off any potential Italian incursion.

North Africa
No action in this theatre this turn.
Casualties
German: 125,900 (^ 10,072)
British: 543,888 (^ 5,036)
Summary
A much better turn for the Allies there. The French Navy, which I basically consider expendable for the time being, thumped that German BB down 5 steps for only 2 steps of losses. If he survives the German counter-attack I may even consider withdrawing and repairing it, since it's now mid-March and still there's no invasion of Holland, Belgium or (most importantly) France.
By my reckoning, unless there's been reinforcements, the German U-boat fleet has only 2 boats at basically full strength, with the 3rd caught off the Scottish coast and down to 3 steps. It's a HUGE risk I think getting the Carrier to join the attack, but I'm gambling that the Axis doesn't have enough U-boat strength at the moment to take it out all in one turn.
I'm screwed if they do though....hehe.
The RN is still in a really bad shape. I've got one replacement Destroyer coming in 5 turns and I'm torn on whether to add another order, go for a replacement air unit, or build some garrison units in preparation for a possible German invasion.
One thing that puzzles me is where all the Axis strength is going. To be in mid-march 1940 with still no fighting on the Western Front worries me that perhaps the Axis have something really tricky up their sleeves ready to spring on me.
My concern is Britain, with both the Royal Navy and Royal Air Force in a parlous state. Frances needs to hold out for a good long time to give the British time to build up some more, and cut down on the Axis preparation time for Barbarossa.