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☆ 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

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

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

☆ Protesters storm Paris Euronext building in anger over pension law
▼ + stars: | 2023-04-20 | by ( Noemie Olive | ) www.reuters.com time to read: +3 min

REUTERS/Benoit TessierPARIS, April 20 (Reuters) - A group of protesters briefly invaded offices of stockmarket operator Euronext in Paris' La Defense business district on Thursday, saying big companies must pay up to finance pensions, as part of wider protests against a rise in the retirement age. Waving union flags, the group of a few hundred protesters occupied Euronext's lobby, engulfed in red smoke from flares, and chanted words popular with pension protesters: "We are here, we are here, even if Macron does not want it we are here." At the weekend, Macron signed into law the rise in the retirement age which means citizens must work two years longer, to 64, before receiving their state pension. "We'll continue until the (pension law's) withdrawal," protesters shouted in La Defense's central square, standing by a banner that read: "No to the pension reform". Macron himself faced protests on Thursday during his second public outing since signing the bill into law.

☆ 'French Spiderman' climbs Paris skyscraper as protest against pension law
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

[1/6] French "Spiderman" Alain Robert climbs the Tour Alto skyscraper at the financial and business district of La Defense, naming his feat "The People", in Courbevoie near Paris, France, April 19, 2023. REUTERS/Sarah MeyssonnierPARIS, April 19 (Reuters) - A free climber known as the "French Spiderman" scaled a 38-storey skyscraper in Paris on Wednesday to demonstrate his support for protesters angry about a pension law that will delay the age at which people can retire in France. Alain Robert, 60, climbs without a harness, using only his bare hands and a pair of climbing shoes. "I'm here to show my support for those who oppose the pension reform," he told Reuters before starting his ascent of the 150-metre (492 foot) skyscrapper in Paris' La Defense business district. Under the reform, the French retirement age will gradually rise to 64 from 62.

☆ French defence group Thales to recruit 12,000 staff as orders boom
▼ + stars: | 2023-02-26 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: The logo of French defence and electronics group Thales is seen at an office building at the financial and business district of La Defense in Courbevoie near Paris, France, January 31, 2022. REUTERS/Sarah MeyssonnierPARIS (Reuters) - French defence and technology group Thales plans to hire 12,000 new staff this year as there is strong demand across its product range, CEO Patrice Caine said in an interview with French weekly Le Journal du Dimanche. Caine said that all the firm’s activities - defence and security, aeronautics and space, identity and digital security, were growing strongly. “The company is a reflection of its markets, which are all seeing dynamic growth, with needs growing in all our fields of activity,” he said. Caine, who recently met with Ukraine’s defence minister, said that France would deliver its Ground Master 200 radar air defence system to Ukraine in May.

☆ France's Deezer pledges to turn a profit by 2025
▼ + stars: | 2022-09-21 | by ( Mathieu Rosemain | ) www.reuters.com time to read: +2 min

REUTERS/Benoit TessierPARIS, Sept 21 (Reuters) - French music streaming platform Deezer (DEEZR.PA)'s first-half adjusted gross profit rose 9.1% from a year earlier, led by a surge in sales in its home country that firmed up its goal to turn a profit by 2025, the company said on Wednesday. Gross profit increased to 45 million euros ($44.4 million) from 42 million a year earlier, while total sales rose by 12% over the period to 219 million euros, Deezer said in a statement. Deezer's number of direct subscribers in France, where it generates about 60% of its consolidated revenue, rose to 3.3 million from 3 million a year earlier. Yet the total number of subscribers fell by close to 3% to 9.4 million. read moreThe stock has lost 65% of its value since its first trading day, valuing the company at 472 million euros ($466.38 million), compared to Spotify's market capitalisation of $18.7 billion.

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