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☆ France eked out 0.1% growth in Q4 as energy crisis eased
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

The French fourth quarter GDP figures also provided a positive contrast to Germany after data on Monday showed that the euro zone's biggest economy had unexpectedly shrunk in the fourth quarter. "However, the weakness of domestic demand at the end of last year suggests that a recession is likely, albeit not certain," he added. INSEE said that foreign trade added 0.5 percentage points to GDP in the final quarter of 2022 as exports fell only 0.3 percentage points against 1.9% for imports on lower energy prices. That helped make up for weak domestic demand and companies destocking inventories, which both subtracted 0.2 percentage points from GDP. As record inflation eroded households purchasing power, consumer spending weighed on overall domestic demand, falling 0.9% from the previous three months.

☆ LVMH shares fall as margins disappointment takes shine off Q4 figures
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

PARIS, Jan 27 (Reuters) - LVMH (LVMH.PA) shares, which had hit a record high earlier this month, fell on Friday as some analysts expressed an element of disappointment over the company's margins, which took some of the shine off its fourth-quarter figures. LVMH reported late on Thursday that its sales rose 9% in the fourth quarter as shoppers in Europe and the United States splurged over the crucial holiday season, helping partly to offset COVID disruptions in China. However, some analysts said one weak spot was its flat margins. "The slight wrinkle is on the margin, where the group delivered a flat operating margin year-on-year (versus consensus of +90 bps) – largely a reflection of maintaining/raising H2 marketing spend despite disrupted revenue growth," wrote Credit Suisse analysts. Reporting by Sudip Kar-Gupta; Editing by Silvia Aloisi and Benoit Van OverstraetenOur Standards: The Thomson Reuters Trust Principles.

☆ LVMH shares lose recent lustre as China takes margin toll
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

PARIS, Jan 27 (Reuters) - LVMH (LVMH.PA) shares, which hit a record high earlier this month, fell on Friday as some analysts aired disappointment at the company's margins, taking some of the shine off a fourth-quarter sales rise. However, some analysts focused on its flat margins. "The slight wrinkle is on the margin, where the group delivered a flat operating margin year-on-year (versus consensus of +90 bps) – largely a reflection of maintaining/raising H2 marketing spend despite disrupted revenue growth," Credit Suisse analysts wrote in a note. The division's profit from recurring operations came to 660 million euros for the year, a fall of 3%. Reporting by Mimosa Spencer; Editing by Silvia Aloisi, Benoit Van Overstraeten and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ France and Iraq sign comprehensive strategic partnership agreement
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

France and Iraq signed a treaty seeking to strengthen bilateral relations in anti-corruption, security, renewable energy and culture, the Elysee Palace said in a statement issued in the early hours of Friday. "In terms of alternative energies, they showed their commitment to the implementation of TotalEnergies's (TTEF.PA) multiple-energies project (...) based on solar energy and investments in gas." When TotalEnergies and Baghdad in 2021 signed an agreement to build four giant solar, gas, power and water projects in southern Iraq over 25 years, hopes for an exodus reversal were high. Exxon Mobil (XOM.N), Shell (SHEL.L) and BP (BP.L) have all sought to scale back their operations in Iraq in recent years. Reporting by Akriti Sharma in Bengaluru and Benoit Van Overstraeten in Paris; Editing by Tom Hogue and Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Philippines defiant, says won't cooperate with ICC investigation
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +4 min

Jesus Crispin Remulla said the ICC should not impose on the Philippines, which is no longer a signatory to the international tribunal. The ICC, which had suspended the investigation in November 2021 at Manila's request, said in a statement it was "not satisfied that the Philippines is undertaking relevant investigations that would warrant a deferral of the investigation." Current Philippine President Ferdinand Marcos Jr and the vice president, who is Duterte's daughter, did not comment on the latest ICC decision. Human Rights Watch said the ICC investigation was the only credible path to justice for victims and their families. Families of many drug war victims are still seeking justice in long, drawn-out cases.

☆ ICC prosecutor gets approval to reopen Philippines drug war probe
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +3 min

The ICC on Thursday said it had granted its prosecutor's request to reopen an investigation into drug war killings and other suspected rights abuses. The court suspended the probe in November 2021 at Manila's request after the country said it was implementing its own investigations and prosecutions. In a statement, the ICC said it was "not satisfied that the Philippines is undertaking relevant investigations that would warrant a deferral of the investigation." Human Rights Watch said the ICC investigation was the only credible path to justice for victims and their families. Meanwhile, the families of many drug war victims are still seeking justice in long, drawn-out cases.

☆ EU Parliament calls for more sanctions against Iranian regime
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, Jan 19 (Reuters) - European lawmakers adopted a resolution on Thursday calling for more sanctions against all Iranian individuals and entities responsible for human right violations and also voted for the Revolutionary Guard Corps to be designated as a terrorist entity. "Iranian authorities must end crackdown on their own citizens (...) Supreme Leader Ali Khamenei and President Ebrahim Raisi should be added to the sanctions list," the European Parliament said in a statement. Iran warned earlier that the European Union would "shoot itself in the foot" if it designated the Revolutionary Guard Corps as a terrorist entity. On Wednesday, the European Parliament called for the EU to list the Revolutionary Guard as a terrorist organisation, blaming it for the repression of domestic protesters and the supply of drones to Russia's military for use in Ukraine. Reporting by Andrew Gray and Benoit Van Overstraeten; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ EU Commission wants first joint purchases of gas by summer
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, Jan 16 (Reuters) - The European Commission aims for EU countries to start jointly buying gas "well before summer", European Commission Vice-President Maros Sefcovic said on Monday, an attempt to help countries refill storage and avoid a supply crunch next winter. Sefcovic asked industry to confirm if they are interested in joining the EU scheme to jointly buy gas, which the Commission hopes will help Europe refill depleted storage caverns and negotiate lower prices by using countries' collective buying power. Some EU officials said certain large energy firms have expressed reluctance to join, since they can already negotiate their own gas deals and doubt the EU scheme will yield lower prices. The Commission aims to publish the amount of gas European countries plan to jointly buy in early spring, to attract offers from suppliers. EU countries must ensure their local companies take part in the aggregation of gas demand with volumes equivalent to 15% of the gas needed to fill that country's storage facilities to 90% of capacity.

☆ Lights maker Signify cuts its 2022 outlook again on lower consumer demand, China
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

Jan 12 (Reuters) - Signify (LIGHT.AS), the world's biggest maker of lights, on Thursday again cut its full-year profit margin and sales guidance, citing a steeper slowdown in China than expected and a lower demand from businesses. This compares with the previous full-year guidance of the lower end of the 11.0-11.4% range. "Signify experienced a stronger than anticipated deterioration of its business in China due to ongoing COVID-related disruptions, a much lower growth in the OEM channel and a weaker indoor professional business than expected," the company said in a statement. Comparable sales growth is now seen at 1.2% for 2022, versus a previous guidance of a 2-3% increase. Reporting by Benoit Van Overstraeten; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Ubisoft shares slump 20% after French video game maker warns on revenue
▼ + stars: | 2023-01-12 | by ( Dominique Vidalon | ) www.reuters.com time to read: +1 min

PARIS, Jan 12 (Reuters) - Shares in Ubisoft (UBIP.PA) fell 20% on Thursday after the French video game maker warned on revenue and postponed the release of its game "Skull and Bones", prompting analysts to cut their estimates and price targets. Late on Wednesday, Ubisoft said that it was increasing its writedown estimate to 500 million euros ($538 million) from 400 million and cutting its full-year revenue target after ending 2022 with weaker-than-expected sales. Several analysts noted that another negative factor was a shift in the video game industry towards mega-brands and away from small and mid-tier games. They reiterated their "market perform" rating on Ubisoft and cut their price target to 22 euros from 34 euros. Reporting by Dominique Vidalon, Pitr Lipinski; editing by Benoit Van Overstraeten and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ France to raise retirement age to 64, Prime Minister Borne says
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: 1 min

PARIS, Jan 10 (Reuters) - The French government will put forward a draft law aimed at raising the regular retirement age to 64 from 62 by 2030, Prime Minister Elisabeth Borne said on Tuesday as she laid out its reform plans during a news conference. "I am well aware that changing our pension system raises questions and fears among the French people", Borne said, adding that is was now the government's task to rally public support for the reform. Reforming France's pensions system was one of the key promises made by President Emmanuel Macron when he was first elected in 2017. The move is likely to trigger stiff resistance from France's labour unions and the left-wing opposition bloc. Reporting by Tassilo Hummel, editing by Benoit Van OverstraetenOur Standards: The Thomson Reuters Trust Principles.

☆ EU agrees coordinated approach in wake of changing COVID situation
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, Jan 3 (Reuters) - The European Union Health Security Committee said on Tuesday EU member states agreed on a "coordinated approach" to the changing COVID-19 situation, adding that included implications for increased travel from China. EU health chief Stella Kyriakides said the committee worked on targeted measures including pre-departure testing for travellers from China, stepped up wastewater monitoring and increased domestic surveillance. Talks of the integrated political crisis response (IPCR) meeting continue tomorrow. Reporting by Benoit Van Overstraeten; Editing by Marine StraussOur Standards: The Thomson Reuters Trust Principles.

☆ Most EU countries back COVID pre-departure testing for flights from China
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, Jan 3 (Reuters) - Most European Union countries favour introducing pre-departure COVID testing for travellers from China, the European Commission said on Tuesday, as Beijing plans to lift travel restrictions on its citizens despite a wave of COVID infections. The common EU approach emerged after a meeting on Tuesday of the Health Security Committee, an EU advisory body of national health experts from the EU-s 27 countries and chaired by the Commission. "The overwhelming majority of countries are in favour of pre-departure testing," a Commission spokesman said. The spokesman said all EU countries agreed they needed a coordinated approach to the changing situation in China and to deal with implications of increased travel from China to Europe after China lifts its stringent pandemic polices on Jan 8th. The European Centre for Disease Prevention and Control said last week it did not currently recommend measures on travellers from China.

☆ European Parliament to waive immunity of two MEPs in corruption case
▼ + stars: | 2023-01-02 | by ( Charlotte Campenhout | ) www.reuters.com time to read: +2 min

BRUSSELS, Jan 2 (Reuters) - The European Parliament said on Monday it had begun a procedure to waive the immunity of two of its members after a request from Belgian judiciary investigating a European Union-Qatar corruption scandal. Two sources close to the investigation told Reuters the two MEPs were Belgian Marc Tarabella and Italian Andrea Cozzolino. "Following a request from the Belgian judicial authorities, I have launched an urgent procedure for the waiver of immunity of two members of the European Parliament," parliament president Roberta Metsola said on Twitter. In December, two sources with direct knowledge of the matter told Reuters that Francesco Giorgi, one of the main suspects in the investigation along with his partner, ousted European Parliament vice-president Eva Kaili, confessed to taking bribes from Qatar to influence European Parliament decisions on Qatar. According to the sources, Giorgi, an EU parliamentary assistant, said he suspected Tarabella and Cozzolino had received money from Qatar.

Poland withdrew last-minute objections to a global minimum corporate tax, unblocking a whole package of linked agreements that includes the loan to Ukraine, invaded by Russia almost 10 months ago. "The next six months will demand even greater efforts from us," Ukrainian President Volodymyr Zelenskiy told the 27 EU leaders gathered in Brussels, asking them for more support from air defences to energy equipment. EU leaders also agreed a ninth package of sanctions against Russia for waging the war against Ukraine, diplomats said. The decision, which requires unanimity, came after EU Russia hawks Poland and Lithuania had warned that proposed exceptions for food security might in fact benefit Russian oligarchs in the fertilizer business. Poorer EU countries want a coordinated response and warned richer member states like Germany against supporting their industries without showing solidarity with the rest of the bloc.

☆ FIFA, UEFA rules compatible with EU competition rules, EU court adviser says
▼ + stars: | 2022-12-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 15 (Reuters) - Soccer bodies UEFA and FIFA's rules giving them the right to block clubs from joining a breakaway league and penalise players who do so are compatible with EU antitrust laws, an adviser to Europe's top court said on Thursday. The case centres on the dispute between UEFA, FIFA and the European Super League last year but could also impact other sports, clubs and players tempted by lucrative deals offered by rebel bodies and seeking to cash in during relatively short careers. The Super League took its case to a Spanish court which subsequently sought guidance from the Luxembourg-based Court of Justice of the European Union (CJEU). "The FIFA-UEFA rules under which any new competition is subject to prior approval are compatible with EU competition law," Advocate General Athanasios Rantos at the EU Court of Justice (CJEU), Europe's highest, said. While the Super League is free to set up its own independent football competition outside the UEFA and FIFA ecosystem, it cannot at the same time continue to participate in FIFA and UEFA football competitions without their prior authorisation, he said.

"We've been too naïve ... for far too long," a justice ministry spokesperson said, referring to what he called clandestine operations by foreign powers in Belgium. The other three suspects arrested and charged last week were meanwhile questioned, as planned, on Wednesday by a three-judge panel. Niccolo Figa-Talamanca, the secretary-general of a rule of law campaign group, will leave jail but wear an electronic ankle tag. The European Parliament on Tuesday voted to strip Kaili, a 44-year old Greek Socialist MEP, of her vice presidency role. Although no state was publicly named by prosecutors, a source with knowledge of the case said it was Qatar.

☆ Google must remove 'manifestly inaccurate' data, EU top court says
▼ + stars: | 2022-12-08 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

LUXEMBOURG, Dec 8 (Reuters) - Alphabet unit Google (GOOGL.O) must remove data from online search results if users can prove it is inaccurate, Europe's top court said on Thursday. The case before the Court of Justice of the European Union (CJEU) concerned two executives from a group of investment companies who had asked Google to remove search results linking their names to certain articles criticising the group's investment model. They also wanted Google to remove thumbnail photos of them from search results. A German court subsequently sought advice from the CJEU on the balance between the right to be forgotten and the right to freedom of expression and information. The same court in 2014 enshrined the right to be forgotten, saying that people could ask search engines like Google to remove inadequate or irrelevant information from web results appearing under searches for their names.

☆ EU agrees law to make airlines pay more to pollute
▼ + stars: | 2022-12-07 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

Airlines running flights within Europe currently have to submit permits from the EU's carbon market to cover their carbon dioxide emissions, but the EU gives them most of those permits for free. That will mean airlines will have to pay for their CO2 permits, providing a financial incentive for them to pollute less. Climate campaigners lamented that emissions from international flights would not be added to the carbon market sooner. "Average European families will continue to pay much more for their CO2 emissions than frequent long-haul flyers. EU countries and the bloc's Parliament both need to formally approve the law before it takes effect.

☆ EU's Gentiloni: We will have a recession this winter
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, Dec 5 (Reuters) - Europe will fall into a recession this winter and growth will not return before spring, European Economy Commissioner Paolo Gentiloni said on Monday. "We will have a recession this winter," he told reporters before a Eurogroup meeting in Brussels. Reporting by Benoit Van Overstraeten; Editing by Foo Yun CheeOur Standards: The Thomson Reuters Trust Principles.

☆ Ukraine says it will work to convince Germany to provide Patriot systems
▼ + stars: | 2022-11-30 | by ( John Irish | ) www.reuters.com time to read: +2 min

BUCHAREST, Nov 30 (Reuters) - Ukraine needs the U.S. made Patriot missile defence systems to protect its civilian infrastructure, under heavy attack by Russia, Foreign Minister Dmytro Kuleba said on Wednesday, adding he would try to convince Germany to allow their delivery. Russia has carried out regular missile bombardments on Ukraine's energy infrastructure since early October, with damage accumulating as temperatures drop. Spare parts to repair the energy sector, air defence systems to prevent future attacks and NATO-style tanks were the priority, he said. "If Germany is ready to provide Patriots to Poland and Poland is ready to hand them to Ukraine then I think the solution for the German government is obvious," he said, adding that Kyiv would work with Berlin on the issue. Former Russian President Dmitry Medvedev warned NATO on Tuesday against providing Ukraine with Patriot systems.

☆ The U.S. to grant $53 million to Ukraine for power transmission
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

BUCHAREST, Nov 29 (Reuters) - The United States on Tuesday announced $53 million to support the purchase of power grid equipment to Ukraine to help Kyiv fight Russian attacks targeting its energy infrastructure that left millions in the dark with no heating. "This equipment will be rapidly delivered to Ukraine on an emergency basis to help Ukrainians persevere through the winter," a State Department statement said, adding that the package would include distribution transformers, circuit breakers, surge arresters among other equipment. Russia has been carrying out huge attacks on Ukraine's electricity transmission and heating infrastructure roughly weekly since October, in what Kyiv and its allies say is a deliberate campaign to harm civilians, a war crime. Reporting by Humeyra Pamuk; Editing by Benoit Van OverstraetenOur Standards: The Thomson Reuters Trust Principles.

☆ NATO's Stoltenberg: Putin trying to use winter as war weapon against Ukraine
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: 1 min

BUCHAREST, Nov 28 (Reuters) - Russia will likely continue attacking Ukraine's power grid, its gas infrastructure and basic services for the people, NATO Secretary-General Jens Stoltenberg said on Monday. "Doing that when we enter winter demonstrates that President (Vladimir) Putin is now trying to use ... the winter as a weapon of war against Ukraine," he told reporters at a news conference in Bucharest ahead of a two-day NATO foreign ministers' meeting. Reporting by Sabine Siebold and Benoit Van OverstraetenOur Standards: The Thomson Reuters Trust Principles.

☆ EU ministers seek to ease tensions on migration after France-Italy spat
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +3 min

BRUSSELS, Nov 25 (Reuters) - EU interior ministers sought to ease resurgent tensions over illegal migration at an emergency meeting on Friday, after the fate of migrants rescued in the Mediterranean triggered harsh words between Paris and Rome. "Everyone agrees not to repeat this kind of situation," European Commissioner Margaritis Schinas said after the meeting, referring to tensions over the Ocean Viking. While no concrete decision was taken, ministers welcomed a 20-point action plan proposed by the European Commission to address surging migration in the central Mediterranean. One focus of that plan was to seek to strengthen cooperation with third countries, including steps to prevent departures from North Africa. Southern EU countries, including Italy, Spain and Greece, where most migrants arrive, say there is too much pressure on them and EU states to the north are not helping them enough.

BRUSSELS, Nov 24 (Reuters) - European Council President Charles Michel will meet Chinese President Xi Jinping in China on Dec. 1 to discuss a range of global challenges including the war in Ukraine, tensions over Taiwan and EU concerns about imbalanced economic ties. The visit comes after European leaders jointly expressed concern at a meeting last month about economic reliance on China. Michel was likely to stress the need to rebalance the EU-China economic relationship and the importance of abiding by global trading rules. Since 2019, the European Union has regarded China more warily, describing it then as a partner, an economic competitor and a system rival. Reporting by Marine Strauss @StraussMarine, Benoit Van Overstraeten; Editing by Alex Richardson, Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

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