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☆ SocGen issues 10-mln-euro digital green bond on a public blockchain
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

A logo of French bank Societe Generale is seen on the company's skyscraper at the financial and business district of La Defense near Paris, France September 14, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Dec 4 (Reuters) - Societe Generale , France's third-biggest listed bank, said on Monday it issued its first so-called digital green bond on a public blockchain, as the lender seeks to build expertise in crypto services. AXA IM made the investment in the digital green bond by acquiring and then spending 5 million euros worth of SocGen's euro-denominated stablecoin, EUR CoinVertible (EURCV). SocGen's bond issuance, made on the Ethereum public blockchain, follows the launch last week by the European Investment Bank (EIB) of its second euro-denominated digital bond on a private blockchain, in partnership with Goldman Sachs Bank Europe, Santander and SocGen. SocGen's digital green bond issuance was made via its crypto unit, Forge.

Persons: Gonzalo Fuentes, Generali, SocGen, Blockchain, Mathieu Rosemain, Bernadette Baum Organizations: Societe Generale, La Defense, REUTERS, Rights, AXA Investment, AXA, Generali Investments, European Investment Bank, Goldman Sachs Bank Europe, SocGen, Thomson Locations: La, Paris, France, Santander

☆ Wordline shares surge on report Credit Agricole could take stake
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

The logo of payments company Worldline is seen at the company headquarters in the financial and business district of La Defense, near Paris, France, October 26, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Dec 1 (Reuters) - Shares in Worldline (WLN.PA) surged almost 12% on Friday after a media report said Credit Agricole (CAGR.PA) was considering acquiring a stake in the French payment processing company. Other French financial institutions could also look at playing a role in Worldline's future, Bloomberg added, citing some of the people. Italian payments company Nexi (NEXII.MI) last month confirmed its guidance while the Netherlands' Adyen (ADYEN.AS) reassured the market with its "more realistic" medium-term guidance. Worldline shares have fallen more than 58% this year.

Persons: Gonzalo Fuentes, Piotr Lipinski, Sharon Singleton, Kirsten Donovan Organizations: La Defense, REUTERS, Rights, Bloomberg, Credit, Thomson Locations: La, Paris, France, Worldline, Germany, cybercrime, Netherlands

The logo of payments company Worldline is seen at the company headquarters in the financial and business district of La Defense, near Paris, France, October 26, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsLONDON/PARIS, Dec 1 (Reuters) - French digital payments company Worldline (WLN.PA) is considering options including asset sales as part of efforts to reassure shareholders after a sharp drop in its share price, three people familiar with the matter said. Another said assets sales may come from its software businesses but suggested these might not be sizeable enough to revitalise its shares. Other French banks could also partner with Credit Agricole for a role in Worldline's future, this person added. Bloomberg first reported Credit Agricole's interest in buying a stake in Worldline, prompting its shares to soar by almost 12% earlier on Friday.

Persons: Gonzalo Fuentes, Worldline, Adyen, Tommaso Nieddu, Amy, Jo Crowley, Mathieu Rosemain, Pablo Mayo Cerqueiro, Diana Mandiá Álvarez, Gaëlle Sheehan, Kirsten Donovan Organizations: La Defense, REUTERS, Worldline's Mobility, Worldline, Credit Agricole SA, Credit Agricole, Bloomberg, Credit, Thomson Locations: La, Paris, France, PARIS, Germany, appeasing, Worldline's, U.S, Worldline

☆ Nigeria restores 275,000 bpd production at TotalEnergies JV
▼ + stars: | 2023-11-12 | by ( Camillus Eboh | ) www.reuters.com time to read: +2 min

A logo of TotalEnergies is seen at an electric vehicle fuelling station in the La Defense business district in Courbevoie near Paris, France, February 8, 2023. "The unions have agreed to suspend ongoing industrial action leading to immediate restoration of 275,000 barrels of oil per day production," NNPC said. NNPC did not disclose the nature of the dispute or the workers' demands, which had not been previously announced. Nigeria's oil production stood at 1.49 million barrels per day in October, according to data from the petroleum regulator, still below the 2023 budget target of 1.69 million bpd. That has led to fears that NNPC may struggle to supply crude to the 650,000 bpd Dangote Refinery, which has missed several targets to start production.

Persons: Sarah Meyssonnier, NNPC, Camillus, Giles Elgood Organizations: La Defense, REUTERS, Rights, NNPC, Petroleum, Natural Gas Senior Staff Association, Nigerian Union of Petroleum, Natural Gas Workers, Dangote, Reuters, Thomson Locations: Courbevoie, Paris, France, Rights ABUJA, TotalEnergies

☆ Allianz retains full-year outlook despite 30% slump in Q3 profit
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

The logo of insurer Allianz SE is seen on the company building in Puteaux at the financial and business district of La Defense near Paris, outside Paris, France, May 14, 2018. REUTERS/Charles Platiau/File Photo Acquire Licensing RightsFRANKFURT, Nov 10 (Reuters) - Germany's Allianz (ALVG.DE) on Friday posted a 30% fall in its third-quarter net profit, dragged down by claims from natural catastrophes, although the financial services company maintained its full-year profit outlook. Net profit attributable to shareholders of 2.021 billion euros ($2.16 billion) in the three-month period ended September, compared with 2.866 billion euros a year earlier. Allianz, one of Europe's largest financial services groups, described the level of claims as "exceptionally high". Still, the company stuck to its target of 2023 operating profit between 13.2 billion and 15.2 billion euros.

Persons: Charles Platiau, Tom Sims, Christina Amann, Linda Pasquini, Miranda Murray, Sherry Jacob, Phillips Organizations: Allianz, La Defense, REUTERS, Rights, Germany's Allianz, Thomson Locations: Puteaux, La, Paris, France, Ukraine, Continental Europe, Germany, Italy, Austria

NII at the French retail division fell by 27% in the quarter, excluding two regulated savings accounts, "well below expectations," JP Morgan said in a note to clients. The French lender said it now saw NII of its French retail, private banking and insurance division falling by more than 20% in 2023. The French retail division's earnings also suffered from hedging contracts against the risks of low interest rates. SocGen's shares had edged up 0.6% by 0924 GMT. The bank has also finalised the merger of its two French retail networks.

Persons: Gonzalo Fuentes, JP Morgan, SocGen, Slawomir Krupa, Jefferies, Krupa, ALD, Mathieu Rosemain, Silvia Aloisi, Ingrid Melander, Emelia Organizations: Societe Generale, La Defense, REUTERS, European Central Bank, BNP, Deutsche Bank, Barclays, Thomson Locations: La, Paris, France

☆ Clifford Chance's lawsuit against SocGen can continue in London, court rules
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +1 min

A logo of French bank Societe Generale is seen on the company's skyscraper at the financial and business district of La Defense near Paris, France September 14, 2023. Societe Generale's case against Goldas was ultimately dismissed, prompting the bank to accuse Clifford Chance of negligence. Clifford Chance applied to London's High Court for a declaration that it was not liable to Societe Generale for any alleged negligence or breach of duty. "The dispute concerns whether or not an English firm of solicitors were negligent in their conduct of English law litigation in the English High Court," the judge said. Clifford Chance and Societe Generale declined to comment.

Persons: Gonzalo Fuentes, Clifford Chance's, Clifford Chance, Goldas, Judge Andrew Henshaw, Sam Tobin, Kirsten Donovan Organizations: Societe Generale, La Defense, REUTERS, France –, Generale's, High, Thomson Locations: La, Paris, France, London

☆ Pentagon warns about China’s growing long-range missile arsenal in major report
▼ + stars: | 2023-10-19 | by ( Oren Liebermann | ) edition.cnn.com time to read: +4 min

The 2023 China Military Power report, released annually by the Defense Department, said that Beijing has also completed the construction of three new fields of long-range ballistic missiles silos as it builds out its options for delivering a nuclear warhead from different platforms. China uses its military might to assert its claims of sovereignty in the South China Sea and beyond, including Taiwan. In 2022, the Chinese military increased its aggressive actions towards the independent island territory, including ballistic missile overflights, military aircraft flying into Taiwan’s aerial identification zone and major exercises near Taiwan. The growing aggression isn’t only pointed at Taiwan or China’s neighbors. Chinese military pilots have ramped up their “coercive and risky” behavior against US aircraft flying over the East and South China in the last two years.

Persons: ”, Xi Jinping, ” Ely Ratner, “, Aquilino Organizations: CNN, Pentagon, Defense Department, National Defense Strategy, America, East, Defense, Pacific Security Affairs, PLA, PLA’s Joint Staff Department Locations: China, United States, Beijing, South, Taiwan, South China, Fiji

☆ Planisware postpones Euronext, marking third European float fail in a week
▼ + stars: | 2023-10-11 | by ( Nathan Vifflin | ) www.reuters.com time to read: +1 min

The Euronext stock exchange is pictured at the La Defense business district in Paris, France, September 30, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 11 (Reuters) - French software company Planisware said on Wednesday it would postpone its initial public offering on Euronext Paris, despite closing the books on the same day, making it the third European float to fail in a week. Planisware follows the steps of German gearbox supplier Renk, which pulled its listing last week despite having indicated its share pricing, also citing a "clouded" market environment. Another German company, DKV Mobilit, on Tuesday postponed its listing until next year, citing an uncertain market environement. Earlier on Wednesday, a bookbuilder said Planisware had priced its shares at 16 euros ($16.98) each, the lower end of the 16-18 euro bracket indicted last week.

Persons: Benoit Tessier, Planisware, Pierre Demonsant, DKV, Nathan Vifflin, Kirsten Donovan, Sharon Singleton Organizations: La Defense, REUTERS, Euronext Paris, Thomson Locations: Paris, France

☆ Planisware shares priced at 16 euros in Euronext's biggest IPO in two years
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

The Euronext stock exchange is pictured at the La Defense business district in Paris, France, September 30, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 11 (Reuters) - French software company Planisware has priced its shares at 16 euros ($16.97) each for its initial public offering announced last week, a bookrunner said on Wednesday, making it the largest IPO on Euronext Paris in the last two years. The IPO aims to "strengthen Planisware’s position across strategic markets by increasing its market visibility and brand awareness." The group previously said it aimed for a valuation of between 1.11 billion euros ($1.17 billion) and 1.25 billion euros, with a price bracket of 16 to 18 euros per share. The company's shares are due to begin trading on Oct. 16 on Euronext Paris.

Persons: Benoit Tessier, Nathan Vifflin, Diana Mandià, Alison Williams, Louise Heavens Organizations: La Defense, REUTERS, Euronext Paris, Airbus, Philips, Ford, Pfizer, Thomson Locations: Paris, France, Planisware

☆ Banks behind 70% jump in greenwashing incidents in 2023 -report
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Stephanie Lecocq/File Photo Acquire Licensing RightsLONDON, Oct 3 (Reuters) - The number of instances of greenwashing by banks and financial services companies around the world rose 70% in the past 12 months from the previous 12 months, a report on Tuesday showed. European financial institutions accounted for most of those instances, and much of the greenwashing involved claims about fossil fuels. "Over 50% of these climate-specific greenwashing risk incidents either mentioned fossil fuels or linked a financial institution to an oil and gas company. The European Banking Federation did not respond to a request for comment on the increasing number of greenwashing incidents found by RepRisk. The banking and financial services industry is second only to oil and gas for the number of greenwashing incidents, RepRisk said.

Persons: Stephanie Lecocq, RepRisk, greenwashing, Tommy Reggiori Wilkes, Mark Potter, Jan Harvey Organizations: La Defense, REUTERS, UK Finance, European Banking Federation, watchdogs, Thomson Locations: Paris, France

☆ TotalEnergies says will pay more to shareholders as oil, gas output rises
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

The logo of French oil and gas company TotalEnergies is seen at the company's headquarters skyscraper in the financial and business district of La Defense, near Paris, France September 14, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Sept 27 (Reuters) - French energy goup TotalEnergies (TTEF.PA) said on Wednesday that it would increase returns to shareholders and planned to raise its oil and gas production by 2 to 3% per year over the next five years. The group said at an investor day that it expects to distribute about 44% of its cash flow to shareholders in 2023 and set a target of more than 40% beyond 2023. TotalEnergies also announced positive results at an exploration well in Namibia, to be confirmed by another flow test, and said further appraisal wells and prospects would be drilled. Analysts had said they were particularly keen to hear more about the French energy group's recent exploration activity offshore Namibia - which has no oil and gas output now but could become one of the top 15 oil producers by 2035.

Persons: Gonzalo Fuentes, TotalEnergies, Benjamin Mallet, Forrest Crellin, Sudip Kar, Gupta, Ingrid Melander, Emelia Sithole Organizations: La Defense, REUTERS, Rights, Thomson Locations: La, Paris, France, Namibia

☆ Three-quarters of firms globally are not ready for new ESG rules, KPMG finds
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Stephanie Lecocq/File Photo Acquire Licensing RightsLONDON, Sept 26 (Reuters) - Three-quarters of companies globally are not ready to have their environmental, social and governance (ESG) data audited externally months before new regulations kick in, according to a new report from KPMG published on Tuesday. Regulators say external auditing of sustainability-related data - while not as extensive as financial auditing - is crucial for giving investors information free of misleading environmental claims, known as greenwashing. The EU rules will require disclosures be audited while countries adopting the International Sustainability Standards Board's reporting requirements can also demand external checking. Yet of 750 companies surveyed by KPMG, only 25% feel they are sufficiently prepared. KPMG's ESG Assurance Maturity Index assessed the views of executives and board members across industries, regions and different firm sizes to measure companies preparedness.

Persons: Stephanie Lecocq, Larry Bradley, Mike Shannon, Tommy Reggiori Wilkes Organizations: La Defense, REUTERS, KPMG, Union, KPMG's, Audit, Global, ESG Assurance, Standards, Thomson Locations: Paris, France, EU, Japan, United States, Brazil, China

"We are negatively surprised by lack of revenue growth, increased capital target, payout & ROTE cut, and by the lack of details," Jefferies analysts said in a note. It also said its new targets were based on annual revenue growth expectations between zero and 2% between 2022 and 2026, but that it would aim to improve its cost-to-income ratio. A SocGen veteran and former head of its investment bank, Krupa said he would streamline the bank's activities but didn't elaborate. The share price decline put SocGen on course for the biggest one-day drop since March. "It will take time for the shares to discount the cost improvement given SG's mixed track record," they said.

Persons: Gonzalo Fuentes, Krupa, Slawomir Krupa, SocGen, JP Morgan, Tassilo Hummel, Silvia Aloisi, Elisa Martinuzzi, Michal Alexandrowicz, Mathieu Rosemain, Ingrid Melander, Mark Potter Organizations: Societe Generale, La Defense, REUTERS, BNP, Jefferies, Thomson Locations: La, Paris, France, Russia

☆ Key targets in SocGen's new strategy plan
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

A logo of French bank Societe Generale is seen on the company's skyscraper at the financial and business district of La Defense near Paris, France September 14, 2023. Here are key targets:GROWTHAnnual revenue growth expectations between 0 and 2% by 2026. In August last year, the bank said it was aiming for average annual revenue growth of at least 3% for 2021-2025. ROTETargets a 9 to 10% return on tangible equity ratio in 2026, up from a reported 5.6% ROTE at the end of June. CET1Aims for a CET1 ratio - a key measure of financial strength - of 13% in 2026, almost on par with the 13.1% reported at end of June.

Persons: Gonzalo Fuentes, Slawomir Krupa, SocGen, Krupa, Mathieu Rosemain, Ingrid Melander, Mark Potter Organizations: Societe Generale, La Defense, REUTERS, Generale's, Thomson Locations: La, Paris, France

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsLONDON/DUBLIN, Sept 18 (Reuters) - Societe Generale's (SOGN.PA) much-hyped new strategy plans were given a thumbs down by investors on Monday, underscoring uncertainty over European banks as they face a brittle economy. "There are more questions about the future and the economy," Legras said, adding that transformative mergers between banks, which investors have waited for in vain, remained unlikely. Reuters GraphicsThat dampens the prospects for Europe's banks, whose valuations are low and static, said one adviser who works with top executives from the region's lenders, adding that investors struggle to see much promise for the sector. European banks' modest earning power has dampened investor appetite for their shares, which often trade at just a fraction of book value - the sum of their assets. While in the United States, JP Morgan and Morgan Stanley are valued at around 1.5 times book value, Germany's Deutsche Bank, Dutch lender ABN Amro, France's Credit Agricole and Britain's Standard Chartered are valued at just half book value or less.

Persons: Gonzalo Fuentes, Jerome Legras, Legras, Slawomir Krupa, Krupa, Goldman Sachs, JP Morgan, Frederic Rozier, Morgan Stanley, Karel Lannoo, Elisa Martinuzzi, John O'Donnell, Alexander Smith Organizations: Societe Generale, La Defense, REUTERS, Reuters, European Central Bank, European Union, Commission, Deutsche Bank, ABN Amro, France's Credit, Thomson Locations: La, Paris, France, DUBLIN, France's, Europe, United States, Germany, Mirabaud, U.S, Brussels

☆ France's Total in talks to invest in Adani Green's projects - Bloomberg News
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsSept 14 (Reuters) - French oil major TotalEnergies (TTEF.PA) is in talks to invest in renewable energy projects developed by India's Adani Green Energy (ADNA.NS) as part of its clean energy push, Bloomberg News reported on Friday, citing unnamed sources. Total could invest about $700 million in the projects, the report said, citing one source. The Adani Group has denied wrongdoing. Adani Green shares were up 0.5% on Friday. Adani Green had in July said it approved raising 123 billion rupees through a qualified institutional placement.

Persons: Gonzalo Fuentes, India's, Adani, Gautam Adani's, Hindenburg, Adani Green, Evelyn Nikhila S, Ganesh, Mrigank Organizations: La Defense, REUTERS, Energy, Bloomberg, Adani, Thomson Locations: La, Paris, France, Bengaluru

People walk past a logo of French bank Societe Generale in front of the company's skyscraper at the financial and business district of La Defense near Paris, France September 14, 2023. The bank sees the business as non-core, having sold part of its operations in 2020, said the people, who spoke on condition of anonymity. But a transaction may not happen soon because difficult market conditions weigh on the unit's valuation, they said. Societe Generale Equipment Finance provides equipment leasing and financing solutions to manufacturers, dealers and vendors in sectors ranging from transport to industrials. Rather than naming non-core businesses, Krupa is more likely to outline the group's growth areas, said one person familiar with the bank's thinking.

Persons: Gonzalo Fuentes, Slawomir Krupa, Krupa, Italy's, SocGen, Pablo Mayo Cerqueiro, Mathieu Rosemain, Andres Gonzalez, Amy, Jo Crowley, Elisa Martinuzzi, Silvia Aloisi, Jane Merriman, David Evans Organizations: Societe Generale, La Defense, REUTERS, Finance, Reuters, Deutsche Bank, BNP, Societe Generale Equipment Finance, Basel Committee, Thomson Locations: La, Paris, France, PARIS, Basel

☆ UEFA Super Cup: Manchester City wins title for first time in its history after penalty shootout victory over Sevilla
▼ + stars: | 2023-08-17 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —Manchester City struggled but ultimately won the UEFA Super Cup for first time in its history on Wednesday night after a penalty shootout victory over Spanish club Sevilla. The win continues the club’s remarkable success over the past 18 months, having won the Premier League, FA Cup and Champions League last season. Manchester City players celebrate on the podium after winning the UEFA Super League. However, City was made to work for the Super Cup victory, struggling to break down a stout Sevilla defense. The manager made it so clear to us before the game how much he wants this trophy,” City midfielder Grealish said.

Persons: –, Youssef En, Nesyri, Cole Palmer, Sevilla’s Nemanja Gudelj, I’ve, Pep Guardiola, Palmer, Claudio Villa, Erling Haaland, Julian Álvarez, Mateo Kovačić, Jack Grealish, Kyle Walker, Grealish, “, They’ve, We’ve, ” City’s Organizations: CNN, Manchester City, UEFA, Spanish, Sevilla, The Premier League, League, Europa League, City, Premier League, FA, Arsenal, FIFA Club, UEFA Super League, Aris Messinis, Getty, Croatia, ”, Premier Leagues, Newcastle United, La Liga, Alavés Locations: Athens, Greece, Saudi Arabia, AFP, City, Sevilla, Rodri, ” City

☆ Allianz ex-manager must face US fraud charges related to $7 bln investor loss
▼ + stars: | 2023-08-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

In an order made public on Friday, U.S. District Judge Laura Taylor Swain in Manhattan federal court denied Tournant's motion to dismiss the five-count indictment, which also includes an obstruction charge. Tournant said dismissing the indictment was justified because prosecutors' "intrusion" into his attorney-client relationship had been "manifestly and avowedly corrupt." Two other former portfolio managers have pleaded guilty in the case and agreed to cooperate with prosecutors. The case is U.S. v. Tournant, U.S. District Court, Southern District of New York, No. Reporting by Jonathan Stempel in New York; Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Charles Platiau, Gregoire Tournant's, Laura Taylor Swain, Tournant, Swain, Allianz's, Sullivan, Cromwell, Jonathan Stempel, Marguerita Choy Organizations: Allianz, La Defense, REUTERS, Alpha Funds, Prosecutors, U.S . Securities, Exchange Commission, Court, Southern District of, Thomson Locations: Puteaux, La, Paris, France, U.S, Manhattan, Southern District, Southern District of New York, New York

The beat was underpinned by much lower-than-expected "cost of risk" - money set aside for failing loans - of 166 million euros. Analysts had expected 430 million euros. Dubbed a "year of transition" by Krupa's predecessor Frederic Oudea, 2023 is also marked by a severe downturn at SocGen's French retail banking division, fresh from a merger of its two local networks. The second quarter was also affected by negative exceptional items of 240 million euros, which Credit Suisse analysts said were tied to "legacy legal disputes". Retail banking outside France fared better, as did SocGen's car leasing division ALD Automotive (ALDA.PA), whose sales jumped by more than 17% thanks to the acquisition of rival LeasePlan.

Persons: Gonzalo Fuentes, Krupa, Slawomir Krupa, France's, Jefferies, Frederic Oudea, Intesa, LeasePlan, SocGen, Mathieu Rosemain, Augustin Turpin, Ingrid Melander, Mark Potter Organizations: Societe Generale, La Defense, REUTERS, Royal Bank of Canada, European Central Bank, Credit Suisse, Retail, ALD Automotive, Thomson Locations: French, Courbevoie, Paris, France, PARIS, Russia

☆ Thousands of French Swifties have bad blood with Ticketmaster after it abruptly halted, then rescheduled the sale of the Eras Tour tickets
▼ + stars: | 2023-07-12 | by ( Amanda Goh | ) www.businessinsider.com time to read: +4 min

Swifties in France are furious after Ticketmaster abruptly halted Eras Tour ticket sales for Taylor Swift's Paris shows. The company abruptly suspended ticket sales for the star's Eras Tour in Paris and Lyon shortly after presales started on Tuesday, leaving thousands of fans hanging. "The Taylor Swift sale | The 9 a.m. and 11 a.m. Eras Tour for Paris La Défense Arena has been put on hold. The Eras Tour ticketing situation got so bad that it even prompted a group of Swifties to file a complaint with the Federal Trade Commission. In March, the Ticketmaster platform also crashed during the ticket sales for the Eurovision Song Contest 2023.

Persons: Taylor, Taylor Swift, presales Organizations: Ticketmaster, Taylor Swift's, Lyon, Paris, Twitter, Paris La Défense, Federal Trade Commission, Eurovision, Coldplay Locations: France, Taylor Swift's Paris, Paris, Lyon, Mexico City, Singapore

☆ In the Paris Suburb Where Police Shot a Teenager, Violence and Vigilance
▼ + stars: | 2023-07-01 | by ( Constant Méheut | ) www.nytimes.com time to read: +2 min

Nanterre is one such suburb. The public-housing high-rises of Pablo-Picasso, standing just outside the Paris business district of La Défense, stand as examples of that effort. But Nanterre continues to suffer from high unemployment — 14 percent compared with 8 percent nationally in 2020, according to official statistics — and some neighborhoods, including Pablo-Picasso, suffer from drug-trafficking. Still, the violence of recent days has baffled many neighborhood residents who see it destroying property in the place they live, which simply makes people’s lives harder. “The anger is as strong as the violence of the tragedy,” said Ms. Mohamed Saly, who manages Le 35, a popular neighborhood restaurant with her husband, Brahim Rochdi.

Persons: rekindling, Pablo, Picasso, ”, Mohamed Saly, Brahim, “ Organizations: Nanterre Locations: France, Nanterre, Paris, La, Le

The case against Saint-Gobain and its local unit was filed to the Competition Commission of India (CCI) in May by a retired glass industry executive, whose name was redacted in the documents as the person sought confidentiality. Saint-Gobain has a 44% share of the float glass market in India and a 19% share of the coated one, according to the documents. The group and its India unit, Saint-Gobain India Private Limited, "conduct their activities in compliance with laws", in particular competition law, it said. The May 25 case documents allege Saint-Gobain entered into agreements with glass processors, forcing them to "exclusively" purchase glass from the company or face stopped supplies if that obligation is not fulfilled. Saint-Gobain counts India as a key market.

Persons: Gonzalo Fuentes, Gobain, Benoit Bazin, Aditya Kalra, Muralikumar Organizations: La Defense, REUTERS, India, Company, Compagnie de Saint, Reuters, Saint, Competition Commission of India, Limited, DLF, Thomson Locations: Courbevoie, Paris, France, India, DELHI

☆ Explainer: What is the 'Bridgetown Initiative' asking for at Paris summit?
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +4 min

[1/2] An aerial view shows the Seine River and the skyline of La Defense financial and business district near Paris, France, June 19, 2023. REUTERS/Stephanie LecocqPARIS, June 22 (Reuters) - President Macron hosts a summit in Paris starting Thursday to discuss reform of the world's multilateral finance institutions in the face of climate change and other development challenges. A key topic of discussion will be suggestions from a group of developing countries, led by Barbados, dubbed the 'Bridgetown Initiative'. They should simplify and harmonise the way countries can apply to access loans across the world. The international financial institutions should also finance development plans that help protect shared resources.

Persons: Stephanie Lecocq PARIS, Macron, Simon Jessop, Leigh Thomas, Christina Fincher Organizations: La Defense, REUTERS, Bridgetown Initiative, Monetary Fund, Rapid, IMF, World Bank, African Development Bank, Development Association, Growth Trust, Resilience, Sustainability Trust, World Trade Organisation, International Financial, Thomson Locations: Paris, France, Barbados, Bridgetown

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