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French Economy and Finance Minister Bruno Le Maire attends the China-France Economic and Financial Dialogue at the Diaoyutai State Guesthouse in Beijing, China, July 29, 2023. He said they had also agreed to bring forward annual price negotiations - initially planned for next year - to September. Le Maire went a step further on Thursday, naming Unilever, Nestle and Pepsi Co as being among the companies which he said were refusing to toe the line on prices. "The large multinationals could do much more," Le Maire said. "No one is willing to say 'I am going to reduce my prices' because the government is saying so," he said.

Persons: Bruno Le Maire, Thomas Peter, Le Maire, Le, Sybille De La, Silvia Aloisi, David Holmes, Frances Kerry Organizations: Finance, France Economic, REUTERS, Rights, Unilever, Nestle, PepsiCo, Federation du Commerce, Pepsi Co, Thomson Locations: China, France, Diaoyutai, Beijing, Paris

☆ Euro zone price rises steady for August but core inflation declines further
▼ + stars: | 2023-08-31 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Christine Lagarde, President of the European Central Bank (ECB), speaks during an ECB press conference in July. Inflation in the euro zone came in higher than analysts had expected for the month of August, although coming in unchanged from the previous month and complicating the role of the region's central bank. European Central Bank Member Robert Holzmann said the data shows inflation is still persistent, according to Reuters. He, one of the more hawkish members of the ECB, added that the latest figures pose a "conundrum" for the central bank. The central bank is due to meet on Sept. 14 and announce whether it is raising rates further.

Persons: Christine Lagarde, Dow Jones, Robert Holzmann, Lagarde Organizations: European Central Bank, ECB, Reuters

☆ Disgruntled Europeans hit out at banks for not passing on higher rates on savings
▼ + stars: | 2023-08-31 | by ( Silvia Amaro | ) www.cnbc.com time to read: +6 min

Those words from Marco Oliveira, a 50-year-old graphic designer from Portugal, underscore a deep lying annoyance in Europe with people bemoaning a lack of return on their savings despite surging interest rates. This, in practice, should translate into higher rates both on mortgages, but also on deposits. The key metric used by analysts is the deposit delta — which represents the increase in policy rates that banks pass through to the interest rates on deposits. For instance, Croatia's deposit delta is 12%, Cyprus is 30% and Portugal stands at 32%. And indeed, Portuguese banks show one of the lowest deposit delta, being the fifth worst in Europe," Teixeira said.

Persons: Marco Oliveira, Carlos Stilianopoulos, Marta Ferro Teixeira, Teixeira, Nicolas Charnay, Filipe Garcia, Banks, Garcia Organizations: Bank SA, Bloomberg, Getty, CNBC, European Central Bank, ECB, ABN Amro, ABN AMRO, P Global, P, SA, Reuters Locations: Thessaloniki, Greece, Portugal, Europe, Cyprus, France, Italy, Portuguese, Barcelona, Spain, PNL, —

☆ French August inflation higher than expected, fuelled by energy
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Eric Gaillard/File Photo Acquire Licensing RightsPARIS, Aug 31 (Reuters) - French inflation accelerated more than expected in August as a new fall in food inflation was more than offset by higher energy prices, preliminary EU-harmonised official data showed on Thursday. French consumer prices reached a 12-month inflation rate of 5.7%, up from 5.1% in July, the INSEE stats agency said. A Reuters poll of 18 economists had an average forecast for the 12-month inflation rate of 5.4% with estimates ranging from 4.7% to 5.8%. "This rise in inflation is due to a rebound in energy prices. Food prices were up 11.1% in August, versus +12.7% in July while energy prices, which fell by 3.7% last month, rose 6.8%.

Persons: Eric Gaillard, Bruno Le Maire, Benoit Van Overstraeten, Jean, Michel Belot, Silvia Aloisi Organizations: REUTERS, Rights, French Finance, Thomson Locations: Nice, France

☆ Microsoft to unbundle Teams software in Europe in bid to abate EU antitrust concerns
▼ + stars: | 2023-08-31 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

Silhouettes of laptop users are seen next to a screen projection of Microsoft logo in this photo illustration. U.S. tech giant Microsoft on Thursday said it will unbundle its chat and videoconference service Teams from its Microsoft 365 and Office 365 products, in a bid to allay European Union antitrust concerns. European Union regulators had in July opened an antitrust investigation into Microsoft's bundling of Teams with other Office products, citing anti-competitive concerns. "We appreciate the clarity that has emerged on several of the concerns from extensive and constructive discussions with the European Commission. With the benefit of this clarity, we believe it is important that we start to take meaningful steps to address those concerns," Nanna-Louise Linde, vice president of Microsoft European Government Affairs, said Thursday in a blogpost.

Persons: Nanna, Louise Linde, — CNBC's Silvia Amaro Organizations: Microsoft, European Union, European Commission, Microsoft European Government Affairs, CNBC Locations: Swiss

☆ ‘Extremely rare’ Roman temple discovered on supermarket building site
▼ + stars: | 2023-08-30 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +4 min

That’s because workers at the site on the outskirts of town in December 2022 unearthed the ruins of an ancient Roman temple — or ‘capitolium’ — dating back to the first century BC. The excavation site in Sarsini has yielded ruins on top of ruins, literally. MiBac“We have unearthed three separate rooms, likely dedicated to the triad of gods Jupiter, Juno and Minerva,” lead archaeologist at the excavation site Romina Pirraglia told CNN. The discovery of the temple has pushed local authorities to revise their building plans. “The temple is an incredible finding that sheds light on how ancient Roman towns rose and fell across time.”What makes the discovery exceptional is the temple’s unique state of preservation.

Persons: Plautus, Jupiter, Minerva, ”, Pirraglia, …, Sarsina, Federica Gonzato, ” Gonzato, Gonzato, Romina, MiBac Gonzato Organizations: CNN Locations: Italy’s Emilia Romagna, Roman, Sarsini, Savio, Ravenna, Rimini, Forlì, Cesena, Sarsina, Italy

☆ Explainer: Why is France struggling to lower supermarket prices?
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +4 min

But food prices have continued to climb in France and many other countries even after energy and agricultural commodity costs fell sharply this year. In July, food prices in France were 12.7% higher than a year earlier, compared with a 13.7% increase in June. Retailers say part of the reason why France is struggling to cut prices more aggressively lies with the way retail prices are set in the country. HOW DO FRANCE'S RETAILERS SET PRICES? HOW ARE FOOD PRICES LINKED TO RAW MATERIALS?

Persons: Eric Gaillard, Bruno Le Maire, Le Maire, Les Mousquetaires, Emmanuel Macron's, Olivier Bompard, Henkel, Sybille De La Hamaide, Silvia Aloisi, Mark Potter Organizations: Carrefour, REUTERS, Rights, Finance, Retailers, Procter, Gamble, Unilever, Thomson Locations: Nice, France, Ukraine

☆ They quit their jobs and sold the house. Now this family of four is touring the US in an RV
▼ + stars: | 2023-08-30 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +7 min

Since leaving their jobs last year, the couple has sold their home and is now living in a comfy 45-foot RV as they tour the US. Before setting out on the road, the family trialed camper life for a full year in Phoenix to allow the children to finish elementary school. Coming home late from work every day, she says she was no longer able to spend quality time with her family. They are now spending much less than when they had a house, roughly $1,200 per month for gas, food and basic needs. We have no schedule, no agenda.”Last stop: Latronico, ItalyAfter their RV adventures come to an end, the family plans to head for the Italian village of Latronico, where they purchased an old house.

Persons: Wendy McGrath, – Brady, Ainsley –, Steve McGrath “, ”, Steve, “ Wendy, ” Wendy, they’ve, it’s, We’ve, Steve McGrath, Brady, Ainsley, Wendy, “, ” Brady, Little Ainsley, McGrath, Shephard, Latronico, “ It’s Organizations: CNN Locations: Phoenix , Arizona, German, Phoenix, They’ve, Maine, American, Illinois, Italy, Latronico, Italian, Basilicata, Germany, iPhones

High food prices are a concern for all European governments, with retailers and consumer goods groups trading blame. In Hungary, Prime Minister Viktor Orban has imposed mandatory price cuts on some basic food items. And in Portugal, the government announced in March a package to help low-income families, including scrapping the value added tax on essential food products. French retailers have called for more regular price negotiations with consumer goods companies to reflect changes in the price of raw materials. This year those negotiations led to a 10% increase on the price of products on supermarket shelves.

Persons: Eric Gaillard, Bruno Le Maire, Mousquetaires, Thierry Cotillard, It's, Carrefour Alexandre Bompard, Viktor Orban, Le Maire, Dominique Vidalon, Helen Reid, Silvia Aloisi, Ingrid Melander, Bernadette Baum, David Evans, David Gregorio Our Organizations: REUTERS, Rights, French Finance, Federation du Commerce, RTL, Carrefour, FDC, Thomson Locations: Nice, France, Italy, Hungary, Portugal, Paris, London

☆ Basta! Let Italians play Italians in movies, actor says
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

[1/4] The 80th Venice Film Festival - Photocall for the film "Comandante" in competition - Venice, Italy August 30, 2023. Director Edoardo De Angelis and cast members Johan Heldenbergh, Silvia D'Amico, Pierfrancesco Favino, Massimiliano Rossi pose. REUTERS/Yara Nardi Acquire Licensing RightsVENICE, Aug 30 (Reuters) - One of Italy's most famous actors, Pierfrancesco Favino, on Wednesday said Italian actors should be given a chance to play Italian roles in big international movies. Other Italian roles were taken by Lady Gaga, Jared Leto, Jeremy Irons, Salma Hayek and Al Pacino. "I wish Italian actors ... were more present in international movies where Italian characters are written," said Favino, who was promoting his new Italian-language film "Comandante," which opens the Venice Festival on Wednesday.

Persons: Edoardo De Angelis, Johan Heldenbergh, Silvia D'Amico, Pierfrancesco Favino, Massimiliano Rossi, Yara, Pierfrancesco, Ferrari, Adam Driver, carmaker Enzo Ferrari, Spain's Penelope Cruz, Driver, Maurizio Gucci, Ridley Scott's, Gucci, Lady Gaga, Jared Leto, Jeremy Irons, Salma Hayek, Al Pacino, Favino, Crispian Balmer, Mark Porter Organizations: REUTERS, Venice Film, Venice Festival, Thomson Locations: Venice, Italy, Ridley, Italian

☆ What does China own in Europe?
▼ + stars: | 2023-08-29 | by ( Silvia Amaro | ) www.cnbc.com time to read: 1 min

China has invested heavily in Europe, particularly in the wake of the global financial crisis of 2008 when the region was strapped for cash. But there are growing fears that Beijing could use its strategic investments to further its own political ambitions. A recent dispute between the Baltic nation of Lithuania and Beijing shed light on potential reactions from China. It's led European governments to step up their scrutiny of Chinese investments and attempt to figure out how to redesign their relationship with Beijing. Dr Yu Jie from Chatham House told CNBC that we're going to see more frictions regarding Chinese investment in Europe looking ahead.

Persons: It's, Dr Yu Jie Organizations: Chatham House, CNBC Locations: China, Europe, Beijing, Baltic, Lithuania, Chatham

☆ French consumers forced to cut back on essentials, Carrefour CEO warns
▼ + stars: | 2023-08-29 | by ( Dominique Vidalon | ) www.reuters.com time to read: +4 min

"We are seeing a non-spending tsunami in France," Chairman and Chief Executive Alexandre Bompard told Franceinfo radio. The government is eager to get food inflation - more than twice the overall French inflation rate of 5.1% in July - on a downward path, wary that such high levels could undermine fragile consumer confidence. 'SITUATION OF DEPRIVATION'"They see their margins increase while the French are in a situation of deprivation," Bompard told Franceinfo. On Tuesday, Le Maire vowed to step up pressure on retailers and producers to accelerate price cuts. "I am meeting retailers tomorrow and the producers the day after tomorrow ... with one objective: accelerate the fall of prices."

Persons: Alexandre Bompard, Sarah Meyssonnier, Bompard, FinMin Le Maire, Bruno Le Maire, Henkel, Franceinfo, Le Maire, Dominique Vidalon, Geert de Clercq, Silvia Aloisi, David Goodman, Conor Humphries Organizations: Carrefour, Entrepreneurs de France, Paris, Paris Longchamp Racecourse, REUTERS, Wednesday PARIS, Finance, Retailers, Procter, Gamble, Unilever, G, Henkel, Thomson Locations: Paris Longchamp, Paris, France, Carrefour

☆ Renault looking at spring 2024 IPO for Ampere, CEO says
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: 1 min

PARIS, Aug 28 (Reuters) - French car maker Renault (RENA.PA) is looking to list its Ampere electric vehicle business on the stock market in the spring of 2024, CEO Luca de Meo said on Monday. De Meo told BFM TV that Renault was targeting Nov 1 of this year for the unit to be separated from the rest of the company as a preparatory step in the run-up to the initial public offering. "So we separate and then we see if we have the right conditions to enter the market," he said, adding spring 2024 would be the likely window for a listing. Reporting by Kate Entringer, writing by Silvia Aloisi; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Luca de Meo, De Meo, BFM, Kate Entringer, Silvia Aloisi, Jason Neely Organizations: Renault, Thomson

☆ France pays winemakers to rip up vines as famous Bordeaux region faces uncertain future
▼ + stars: | 2023-08-28 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

A worker uses a backhoe to grub up an area of vines during snow fall in a vineyard in Haux, some 25 kms southeast of Bordeaux, southwestern France, on January 18, 2023. Those words from a wine producer in Bordeaux underscore the huge challenge facing the famous French region as it undergoes a massive transformation. "In the next five years, we will see less vines in Bordeaux," Sylvie Courselle, an agricultural engineer and enologist at Château Thieuley, told CNBC. "Climate change can accelerate this," Courselle told CNBC, adding that in recent years winemakers have had to deal with hailstorms, frosts and droughts that significantly impact the crop. She thinks that, going forward, the biggest challenge will be access to water — one of the most essential ingredients in wine production.

Persons: It's, Sylvie Courselle, Château Thieuley, Courselle Organizations: CNBC Locations: Haux, Bordeaux, France, Château

☆ Economic data in Europe just went from bad to worse
▼ + stars: | 2023-08-23 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

An emloyee works on the assembling of a brake caliper for an electric vehicle in Dueren, western Germany. A reading above 50 marks an expansion in activity, while one below 50 marks a contraction. If pandemic months are excluded, the latest numbers point to the lowest reading since April 2013. In terms of the breakdown between services and manufacturing, the former dropped to a 30-month low at 48.3 and the manufacturing PMI rose slightly from 42.7 in July to 43.7 this month. "Considering the PMI figures in our GDP [growth] nowcast leads us to the conclusion that the euro zone will shrink by 0.2% in the third quarter," Rubia added.

Persons: Dow Jones, Cyrus de la, Rubia Organizations: Hamburg Commercial Bank, PMI Locations: Dueren, Germany, Hamburg

☆ After plunging into the political mainstream, Italy's far-right leader Giorgia Meloni is now shocking markets and upsetting big business
▼ + stars: | 2023-08-23 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

After plunging into the political mainstream and winning over her more moderate counterparts in Brussels, hardline Italian Prime Minister Giorgia Meloni is now shaking things up on home soil. Europe's main banking index dropped some 2.7% on Aug. 8 after Italy announced it would impose a 40% windfall tax on banks. Airlines have rebuffed other policy measures, with a new government plan to curb prices when flying to certain destinations. So far during her mandate, Meloni has largely fallen in line with mainstream political positions at home and abroad, despite concerns from some that she may push her country to the fringes. Federico Santi, a senior analyst at consultancy Eurasia Group, told CNBC via email that her backtrack on the windfall tax "was a major misstep, in perception and substance."

Persons: Giorgia Meloni, Meloni, Federico Santi, Santi Organizations: Airlines, European Commission, European Union, Kremlin, Eurasia Group, CNBC Locations: Brussels, Italian, Italy, Ukraine

☆ French restaurants are reportedly requiring more than $5,000 minimum spend per table and refusing reservations for returning diners who didn't spend enough at their last visit
▼ + stars: | 2023-08-21 | by ( Grace Mayer | ) www.businessinsider.com time to read: +2 min

Tensions over tipping and dining fees have been cropping up all year. Some French restaurants in St Tropez are asking customers for thousands of dollars for reservations. These restaurants are reportedly asking diners for over $5,000 minimum spend for a table. The mayor of St Tropez, Silvia Siri, has started to address these restaurants' practices. St. Tropez, one of the most expensive places to live in France, is also a popular vacation spot for international travelers and celebrities.

Persons: St Tropez, Silvia Siri, Tropez, Siri, Nice Organizations: Service, Nice Matin, Guardian Locations: St Tropez, Wall, Silicon, St, France, Nice

CNN —At least seven people died including a six-year-old girl and 90 others were injured after a Russian missile strike hit a central square in the northern Ukrainian city of Chernihiv, Ukrainian officials said. Saturday’s strike – in a city close to the Russian border and far from the frontlines – hit a theater and a university. An emergency service worker stands at the site of a Russian missile strike in Chernihiv. Vladyslav Savenok/ReutersThe aftermath of a Russian missile strike. Vladyslav Savenok/ReutersUkrainian President Volodymyr Zelensky said the attack turned “an ordinary Saturday… into a day of pain and loss.”“A Russian missile hit right in the center of the city, in our Chernihiv.

Persons: Ihor Klymenko, “, Klymenko, Vladyslav Savenok, Volodymyr Zelensky, ”, Oleksandr Lomako, Putin, Vladimir Putin, Valery Gerasimov, Wagner, Zelensky, Ulf Kristersson, King Carl XVI, Queen Silvia, Kristersson, ” Zelensky Organizations: CNN, Internal, Reuters, Kremlin, Staff, Russian Armed Forces, Swedish, Gripen, “ Locations: Russian, Ukrainian, Chernihiv, Vladyslav, Reuters Ukrainian, Russia, Ukraine, Rostov, Sweden, Zelensky, ”

KYIV/STOCKHOLM, Aug 19 (Reuters) - Ukrainian President Volodymyr Zelenskiy arrived in Sweden on Saturday to meet with Prime Minister Ulf Kristersson, the royal family and other officials as Kyiv's counteroffensive against Russian forces grinds into its third month. The visit will start at Harpsund, the country retreat of Swedish prime ministers, about 120 kilometres from Sweden's capital Stockholm. As Zelenskiy reached Sweden, he said people had been killed and wounded in a Russian missile strike on the northern Ukrainian city of Chernihiv. Zelenskiy said he would thank Sweden for supporting Ukraine since the Russian invasion. Zelenskiy and Prime Minister Kristersson will hold a joint press conference at Harpsund in the afternoon.

Persons: Volodymyr Zelenskiy, Ulf Kristersson, grinds, Zelenskiy, Pal Jonson, Sweden's King Carl XVI Gustaf, Queen Silvia, Olena Zelenska, Kristersson, Dan Peleschuk, Supantha Mukherjee, Simon Johnson, Frances Kerry, Toby Chopra, David Holmes Organizations: Russian, Swedish, Harpsund, Thomson Locations: STOCKHOLM, Sweden, Harpsund, Swedish, Sweden's, Stockholm, Zelenskiy, Russian, Ukrainian, Chernihiv, Ukraine, Stenhammar

☆ Russian missile attack kills 7 in northern Ukrainian city as Zelenskyy visits NATO candidate Sweden
▼ + stars: | 2023-08-19 | by ( ) www.cnbc.com time to read: +4 min

A view shows a site of a Russian missile strike, amid Russia's attack on Ukraine, in Chernihiv, Ukraine, on Aug. 19, 2023. Sweden abandoned its longstanding policy of military nonalignment to support Ukraine with weapons and other aid in the war against Russia. As Zelenskyy arrived in Sweden, a Russian missile strike killed seven people and wounded 90 others in the city center of Chernihiv, the regional capital of the northern Ukrainian province of the same name, Interior Minister Ihor Klymenko said. A Russian missile hit right in the center of the city, in our Chernihiv," he wrote on Telegram. In Russia, President Vladimir Putin visited top military officials in the city of Rostov-on-Don near the Ukrainian border.

Persons: Volodymyr Zelenskyy, Zelenskyy, Sweden's King Carl XVI Gustaf, Queen Silvia, Ihor Klymenko, Vladimir Putin, Don, Putin, Valery Gerasimov, Wagner, group's, Yevgeny Prigozhin, Gerasimov, Sergei Shoigu, Prigozhin, Alexander Khodakovsky, Tiurin, Vitalii Bunechko Organizations: Russia, Archer, NATO, Russia's Southern Military District, Russian, Ukraine Locations: Russian, Ukraine, Chernihiv, Sweden, Harpsund, Stockholm, Ukrainian, Russia, Rostov, Urozhaine, Ukraine's, Donetsk, Zhytomyr

☆ The EU struck a landmark recovery deal during Covid. Here's where the money has gone so far
▼ + stars: | 2023-08-17 | by ( Silvia Amaro | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe EU struck a landmark recovery deal during Covid. Here's where the money has gone so farCNBC's Silvia Amaro reports on the state of play for EU Covid recovery funds, a historic deal that could raise as much as 750 billion euros.

Persons: Silvia Amaro Organizations: EU Locations: Here's

☆ This family is moving to Italy because they’ve had enough of the US
▼ + stars: | 2023-08-08 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +8 min

In 2019, the Dawkins family – Nadine, 59, her husband, Kim, 61, and their children Lorenzo, 29, and DeNae, 27 – bought a charming home in the town of Latronico. Reading the article at her home in El Paso, Texas, Nadine Dawkins, a retired former soldier and businesswoman, felt the pull of her ancestry. The family will be shortly moving to Panama before taking the final leap across the Atlantic to Latronico. Clint Jeffrey was Dawkins' Italian ancestor. Nadine DawkinsOnce in Italy, Nadine hopes to be able to start tracking down the real identity and origins of her Italian ancestor.

Persons: Dawkins, Nadine, Kim, Lorenzo, –, Nadine Dawkins, ”, Clint Jeffrey, Nadine doesn’t, Lucinda, Jeffrey, “, ” Nadine, Kim Dawkins, George Floyd, Vincenzo Castellano, ‘, casalatronica.eu, Latronico – Castellano, Mariangela Tortorella –, Castellano –, ’, Castellano, “ We’ve, Lucinda –, Latronico Organizations: CNN, Reading, CNN Travel, USA Locations: United States, Latronico, Basilicata, El Paso , Texas, Italian, America, Italy, States, Arkansas, Panama, –

☆ Factbox: European countries imposing windfall taxes on banks
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +4 min

But he and Finance Minister Bruno Le Maire have ruled out the possibility of a windfall tax. HUNGARYHungary's government has tweaked windfall taxes imposed on key sectors of the economy in a decree published in June, saying banks can reduce their 2024 windfall tax payments by up to 50% if they increase their Hungarian government bond purchases. ITALYItaly approved on Aug. 8 a one-off 40% tax on profits banks reap from higher interest rates and it plans to use the proceeds to help mortgage holders. LITHUANIALithuania's parliament approved in May a windfall tax on the banking industry's net interest income for 2023 and 2024 following a sharp rise in European Central Bank interest rates. It is expected to raise 6 billion Swedish crowns a year.

Persons: Ralph Orlowski, Emmanuel Macron, Bruno Le Maire, Christian Lindner, Alessandro Parodi, Matteo Allievi, Olivier Sorgho, Silvia Aloisi, Tom Sims, Holger Hansen, Marta Frąckowiak, Alexander Smith Organizations: Germany's Deutsche Bank, REUTERS, Finance, HUNGARY Hungary's, European Central Bank, Swedish Government, Thomson Locations: Frankfurt, Germany, Italy, CZECH REPUBLIC, Czech, France, GERMANY, HUNGARY, ITALY Italy, LITHUANIA, SPAIN Spain, SWEDEN, Britain

Assets will be sold within Altice France or outside France to repay debt, Drahi told investors on a conference call. "(The aims is) to raise, one way or another, 3 billion (euros) of equity, plus or minus," Drahi said. Altice France's net leverage ratio at end of June was 6.3 times its yearly core operating profits. Altice France's net debt was close to 24 billion euros at the end of June, up from 23.6 billion at end of March, the group said. Total earnings before interest, tax, depreciation and amortisation (EBITDA) fell to 1.02 billion euros from 1.08 billion euros a year earlier.

Persons: Patrick Drahi, Philippe Wojazer, Drahi, Dennis Okhuijsen, Altice, Portugal Altice's, Armando Pereira, Pereira, Mathieu Rosemain, Ingrid Melander, Silvia Aloisi, Mark Potter Organizations: Altice Group, REUTERS, Altice, Thomson Locations: Franco, Israeli, Paris, France, PARIS, Altice France, Portugal

☆ Switzerland defend team time trial mixed relay crown at worlds despite crash
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

Aug 8 (Reuters) - Switzerland successfully defended their team time trial mixed relay crown at the world championships on Tuesday despite a crash for Marlen Reusser. Stefan Bissegger, Stefan Kung and Mauro Schmid had a good start before they handed it over to the women's team consisting of Reusser, Elise Chabbey and Nicole Koller, when Reusser lost valuable time after a crash. Reusser is one of the favourites for the individual time trial but she did manage to quickly get back on her bike to continue. The crash did little to hurt their chances as Switzerland eventually finished with a time of 54 minutes and 16.20 seconds, a full seven seconds ahead of France while Germany were third. Britain were fourth, more than a minute behind, while Italy were fifth after Silvia Persico lost time due to a mechanical.

Persons: Stefan Bissegger, Stefan Kung, Mauro Schmid, Elise Chabbey, Nicole Koller, Reusser, Silvia Persico, Rohith Nair, Christian Radnedge Organizations: Britain, Thomson Locations: Switzerland, Swiss, Glasgow, France, Germany, Italy, Bengaluru

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