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☆ The Olympics brought rare unity to France. Now back to the political games.
▼ + stars: | 2024-08-12 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Smith-Circle-Byline-Template.Jpg | Alexander Smith | ) www.nbcnews.com time to read: +7 min

PARIS — It’s 1:00 a.m. on the banks of the Canal de Saint-Denis and the 2024 Paris Olympics closing ceremony finished an hour ago. But the political and social turmoil France faced before a ghostly metal horse galloped down the Seine has not gone away. French President Emmanuel Macron at the Paris Olympic Games. The French president could easily have been giving his view on France’s immediate political future when discussing the rain-drenched opening ceremony with NBC News. Optimism aside, analysts believe the country faces years of deadlock that could end with a far-right president in 2027.

Persons: Denis, Sara Zinger, Mary Mathurin, France's Leon Marchand, Dar Yasin, Emmanuel Macron, Pascal Le Segretain, Macron, Macron’s, Rainbow Murray, they’ve, Murray, Le Pen, Lady Gaga —, Le, Maxime Jourdan, Marine Le Pen, Charles Platiau, who’s, it’s, Rene Nijhuis, Paris Mayor Anne, Marie Hidalgo, France’s Le, Alain Jocard, Hector Gore Organizations: PARIS, Stade de France, Marine, Paris Olympic, NBC, Queen Mary University of London, Rally, Olympics, Olympic, BSR Agency, Getty, Eiffel, Concorde, triathletes, Paris Mayor, France’s Le Figaro, Metro, Paris Games, French, Square, Games Locations: Saint, Parisian, hipsters, France, Paris, Europe, Seine, Montmartre, AFP

This grabbed the attention of U.K.-based French studies professor Martin Hurcombe, who specializes in French history and culture. French fans cheer during the women's cross-country cycling mountain bike event during the Paris Games on July 28. French fans have been wildly cheering for their athletes and team throughout these Olympic Games. Spectators celebrate as France's Leon Marchand wins the gold medal in men's 200-meter individual medley final at the Paris Games. I think it was a moment and there's a risk with these Olympics, as well, that this is (just) a moment."

Persons: “, Jérémy Boutier, France's Leon Marchand, Sarah Stier, Emmanuel Macron, Martin Hurcombe, Jared C, Tilton, Hurcombe, Amélie Oudéa, hasn't, Sameer Al, Léon Marchand, Tom Vanden Brande, Vanden Brande, Yolaine Wilson, it's, Zinedine Zidane, Lilian Thuram, Marcel Desailly, Christian Karembeu, Patrick Vieira, Dar Yasin, We've Organizations: Olympics, NBC News, Paris Games, Getty, University of Bristol, French Sports, Olympic Games, Olympic, Nigeria, Paris La Défense, French, France Locations: France, AFP, Paris, French West Indies, Ghana, New Caledonia, Senegal

☆ After French Election, Voters Are Resigned to Cost-of-Living Crisis
▼ + stars: | 2024-07-11 | by ( Liz Alderman | ) www.nytimes.com time to read: +1 min

Celine Gallois is more careful these days about what she puts in her shopping basket. The cost to fill up the gas tank of her small car jumped to €90 a week from €60. And Ms. Gallois’s electricity bills, which President Emmanuel Macron’s government had capped during an energy crisis last year, shot up again last month after the subsidy ended. All of this led her to cast a vote for Marine Le Pen’s far-right National Rally party for the first time during France’s parliamentary elections this weekend. “People are struggling, and there seems to be no relief in sight,” said Ms. Gallois, her frustration clear as she wandered through an artisanal market in the northern French city of Beauvais with her fiancé, but refrained from buying.

Persons: Celine Gallois, Emmanuel Macron’s, ”, Gallois, they’ve Locations: French, Beauvais

☆ France's Macron wanted to leave his mark on Europe — he may have just ruined his legacy
▼ + stars: | 2024-07-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

He's credited with creating the European Political Community, bringing leaders from across 50 states in the region to discuss shared challenges and to coordinate joint responses. For now, Macron has rejected his current Prime Minister Gabriel Attal's resignation and on Monday asked him to stay in the post "to ensure the country's stability." Subran stressed that it was vital that Macron was aligned with the future prime minister. It hasn't paid off, and France's uncertain political outlook will likely perturb France's European partners, one French political scientist told CNBC. French President Emmanuel Macron reviews troops that will take part in the Bastille Day parade, July 2, 2024 in Paris, France.

Persons: Emmanuel Macron, Sebastien Salom, Emmanuel Macron's, Macron, —, Tina Fordham, it'll, Fordham, Francois Hollande, Angela Merkel, He's, Germany —, Volodymyr Zelenskyy, Hollande, Gabriel Attal's, Ludovic Subran, Subran, Donald, Trump, — we're, CNBC's Charlotte Reed, it's, Macron's, hasn't, Philippe Marlière, France isn't, Aurelien Organizations: Afp, Getty Images, Fordham Global Foresight, CNBC, NATO, European Union, Socialist, Political, Russia, Ukrainian, Reuters, NFP, Monday, Allianz, U.S, Republican, NurPhoto, EU, University College London Locations: gomis, Europe, France, Washington, Ukraine, Germany, Kyiv, Paris, China, Brussels, Strasbourg, Russia

☆ Incumbents pay the price in year of global elections
▼ + stars: | 2024-07-09 | by ( Stephen Collinson | ) edition.cnn.com time to read: +13 min

And elections in Taiwan and South Korea proved the dynamism of the idea that free elections can promote stable governance. The two round French election system once again kept the far-right out of power on Sunday but Macron’s gamble didn’t exactly pay off. An era of political turmoil now looms with a hung parliament, a likely shaky coalition and instability ahead of the next presidential election in 2027. Kevin Coombs/ReutersIndonesiaPrabowo Subianto, a former army general, won the presidential election in the world’s fourth most populous nation, which is home to its largest Muslim population. IranIran wasn’t supposed to have a presidential election this year.

Persons: El, they’ve, Donald Trump’s, Joe Biden, Trump —, Ursula von der Leyen, Emmanuel Macron, Le, Macron, Keir Starmer, Kevin Coombs, Suharto, Narendra Modi, Adnan Abidi, Imran Khan, Nawaz, Asif Ali Zardari, Benazir Bhutto, Sheikh Hasina, Vladimir Putin, Alexey Navalny, Putin, El Salvador, Nayib Bukele, ”, Bukele, Claudia Sheinbaum Pardo, ObturadorMX, Claudia Sheinbaum, Andrés Manuel López Obrador, Sheinbaum, Lai Ching, Yoon Suk Yeol, André Ventura, Peter Pellegrini, Robert Fico, Fico, Nelson Mandela —, —, Macky Sall, Sall, Bassirou Diomaye Faye, Ebrahim Raisi, Ayatollah Ali Khamenei, Masoud Pezeshkian, ultraconservative Saeed Jalili, Pezeshkian Organizations: CNN, European Union, United States –, France, European People’s Party, Popular Front, Britain Voters, Conservative, Labour Party, Reuters, Reuters Indonesia Prabowo, Bharatiya Janata Party, BJP, Pakistan Muslim League, Pakistan People’s Party, Bangladeshi, Kremlin, El, El Salvador Strongman, El Salvador —, Getty, Democratic Progressive Party, Portugal Incumbents, Democratic Alliance coalition, Putin, Russian, South Africa Voters, National Congress, ANC, Democratic Alliance Locations: France, Britain, Iran, El Salvador, Slovakia, Russia, Indonesia, Mexico, South Africa, United States, India, Senegal, Taiwan, South Korea, Germany, London, Reuters Indonesia, Subianto, New Delhi, Reuters Pakistan, Pakistan, —, Bangladesh, South Asia, America, China, Beijing, Portugal, Ukraine, Europe, Senegal Senegal, Africa, Sall, Iran Iran, Islamic Republic

☆ Political Gridlock Will Raise the Economic Stakes in France
▼ + stars: | 2024-07-09 | by ( Liz Alderman | ) www.nytimes.com time to read: +1 min

One thing was clear after France’s surprise election results on Sunday: Any new government formed by President Emmanuel Macron would face months of political paralysis. What’s less certain is whether that gridlock will tip France’s heavily indebted economy further into distress. “Uncertainty hangs over France’s future government architecture,” said the agency, which had already downgraded France’s debt rating on May 31, rattling the government, whose economic credibility has been one of its main political assets. Should the polarization of France’s new Parliament weaken the government’s ability to mend its finances, France’s debt could be downgraded again, it added. The result left no party — including Mr. Macron’s centrist coalition — with a majority and has splintered the lower house of Parliament into three bitterly antagonistic blocs.

Persons: Emmanuel Macron, ” Organizations: Rally Locations: France

☆ 5 Takeaways From France’s Snap Election
▼ + stars: | 2024-07-08 | by ( Adam Nossiter | Aurelien Breeden | ) www.nytimes.com time to read: 1 min

France’s left-wing parties surged unexpectedly in nationwide legislative elections on Sunday, denying the nationalist, anti-immigration National Rally party a majority in the lower house of Parliament. But no party appeared on track to secure an absolute majority, leaving one of Europe’s largest countries headed for gridlock or political instability. The results were compiled by The New York Times using data from the Interior Ministry, and they confirmed earlier projections showing that no single party or bloc would win a majority. Here are five takeaways from the election. 1There were two big surprises as France voted for a new Parliament in snap elections, neither one foreseen by pundits, pollsters or prognosticators.

Persons: France’s Organizations: Rally, The New York Times, Interior Ministry Locations: France

☆ France's left-wing alliance blocks a far-right majority, projection shows
▼ + stars: | 2024-07-07 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

By doing so, Macron hoped the voters would establish a stronger mandate in the lower house and strengthen his influence on the world stage. AdvertisementThe New York Times reported that Macron, without a majority in the lower house and relegated to political maneuvering, said his decision was inevitable. On June 30, the National Rally Party again dealt a huge blow to Macron's Renaissance party and its allies by securing 33% of votes in the first round of voting, which saw a high turnout. AdvertisementMacron's centrist coalition, the Ensemble, which includes the Renaissance party, came in second with a projected 148 seats, while the far-right National Rally came in third with 142 seats. Jean-Luc Mélenchon, leader of the left-wing alliance, called the results an "immense relief for a majority of people in our country," the AP reported.

Persons: —, Emmanuel Macron's, Macron, Pen, Jean, Luc Mélenchon Organizations: Service, Rally, National, Marine, Renaissance, Business, National Assembly, New York Times, National Rally Party, Associated Press, Times, New, The Times, AP Locations: France, Nazi

☆ France’s Snap Election Enters Its Final Hours
▼ + stars: | 2024-07-06 | by ( Aurelien Breeden | ) www.nytimes.com time to read: +1 min

Voters in France will cast ballots on Sunday in the final round of snap legislative elections. The results could force President Emmanuel Macron to govern alongside far-right opponents or usher in chronic political instability weeks before the Paris Summer Olympics. Most polls close at 6 p.m. local time on Sunday, or as late as 8 p.m. in larger cities. The first round of voting was dominated by the nationalist, anti-immigration National Rally party. An alliance of left-wing parties called the New Popular Front came in a strong second, while Mr. Macron’s party and its allies came in third.

Persons: Emmanuel Macron, Macron, Will Organizations: Paris, National Assembly, Rally Locations: France

☆ New Factories and Jobs Are Not Enough to Stem France’s Far Right Surge
▼ + stars: | 2024-07-05 | by ( Liz Alderman | ) www.nytimes.com time to read: +1 min

Between abandoned coal mines and an engine plant scheduled for closure, a gleaming new factory hovers like a phoenix over Billy-Berclau, a small industrial town in northern France. Inside, 700 newly hired workers are making next-generation electric vehicle batteries for the Automotive Cells Company — part of a grand project to revive the wider region’s flailing fortunes. A “Battery Valley” is rising here from the remains of industries that shuttered during a wave of globalization. “Industry is an anti-National Rally weapon, because in places where anger has risen, we’re restoring hope,” Roland Lescure, Mr. Macron’s deputy industry minister, said earlier this year. Billy-Berclau, and nearly every other town in this region of Pas-de-Calais handed a resounding victory last week to National Rally in parliamentary elections — a trend that is likely to be repeated in a final voting round on Sunday.

Persons: Berclau, Emmanuel Macron’s, ” Roland Lescure Organizations: Automotive Cells Company, “, Calais, Rally Locations: France, Pas

☆ Resisting the Far Right at a Festival of French Theater
▼ + stars: | 2024-07-05 | by ( Laura Cappelle | ) www.nytimes.com time to read: +1 min

There are two sides to Tiago Rodrigues, the Portuguese director who has led the Avignon Festival since last year. One — gentle, introspective, given to dissecting intimate human conflicts — has long been evident in his stage productions. That includes “Hecuba, Not Hecuba,” his latest premiere in Avignon, in which a mother fights for justice after her son is mistreated by a state institution. On the other side, Rodrigues has also turned out to be a combative, politically outspoken leader for the French festival, a marquee event on the international theater calendar. JoeyStarr, a French rapper, recited a poem by Léon-Gontran Damas.

Persons: Tiago Rodrigues, —, ”, Rodrigues, de Bergman, Boris Charmatz, Isadora Duncan, JoeyStarr, Léon, Gontran Damas Locations: Portuguese, Avignon, France, French

☆ Aya Nakamura, France’s most streamed singer, calls on voters to oppose far right in Sunday’s election
▼ + stars: | 2024-07-03 | by ( Niamh Kennedy | ) edition.cnn.com time to read: +3 min

CNN —France’s most streamed singer Aya Nakamura has joined the chorus of voices calling on the French electorate to vote against the far right in Sunday’s high stakes election. The National Rally party, which is slated to win big in this Sunday’s second round of voting, has drawn criticism and concern from French celebrities of dual nationality, worried about the impact of their immigration policy plans. The party, headed by 28-year-old Jordan Bardella, hopes to restrict dual nationals from accessing certain state jobs. In a separate post, Nakamura directly referenced the National Rally party, saying: “F*** the National Rally.” Nakamura later deleted the post, according to reporting from CNN affiliate BFMTV. France’s top sports stars have also been using their platforms to urge the public not to vote for the far right.

Persons: CNN —, Aya Nakamura, Jordan Bardella, Popstar Nakamura, ”, ” Nakamura, “, Nakamura, Marion Maréchal, Jules Kounde, ” Kounde, Kylian Mbappé, Mbappé, Volker Turk Organizations: CNN, National Rally, Rally, BFMTV, French national, National, United Nations Locations: France, Mali, Belgium, Algeria, Cameroon, Geneva, Europe

☆ Far Right’s Surge in France Lays Bare Deep Divisions
▼ + stars: | 2024-07-01 | by ( Catherine Porter | ) www.nytimes.com time to read: +1 min

For many, France feels like a very different place on Monday. The results from the first round of legislative elections, held on Sunday, revealed a country deeply fractured, with a surging far right winning a record number of votes and the near collapse of President Emmanuel Macron’s centrist party. “The far right at power’s door,” the cover of Le Parisien, a daily newspaper, pronounced the morning after the first half of the snap election called by Mr. Macron. “Twelve million of our fellow citizens have voted for a far right party that is clearly racist and anti-Republican,” the left-leaning Libération newspaper declared in an editorial, referring to Marine Le Pen’s National Rally party. If the National Rally takes an absolute majority in the runoff on Sunday, Mr. Macron will be forced to appoint a prime minister from its ranks, who will in turn form a cabinet.

Persons: Emmanuel Macron’s, Le Parisien, Macron, ” Organizations: Republican, Rally Locations: France

☆ Four Takeaways From France’s Snap Election
▼ + stars: | 2024-07-01 | by ( Aurelien Breeden | ) www.nytimes.com time to read: +1 min

Voters are being asked to choose their representatives in the 577-seat National Assembly, the country’s lower and more prominent house of Parliament. If a new majority of lawmakers opposed to Mr. Macron is ushered in, he will be forced to appoint a political adversary as prime minister, dramatically shifting France’s domestic policy and muddling its foreign policy. That will be especially so if he is forced to govern alongside Jordan Bardella, the 28-year-old president of the National Rally. If no clear majority emerges, the country could be headed for months of political deadlock or turmoil. Mr. Macron, who has ruled out resigning, cannot call new legislative elections for another year.

Persons: Emmanuel Macron, Macron, Jordan Bardella Organizations: National Assembly, National Locations: France

☆ French stocks jump 2.5% as far right takes election lead but seen falling short of majority
▼ + stars: | 2024-07-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Dimitar Dilkoff | Afp | Getty ImagesFrench stocks staged a relief rally early Monday after results from the first round of the nation's snap election raised expectations of a hung parliament. The far-right National Rally party and its allies won 33.1% of the vote, the left-wing NFP alliance was second with 28% and Macron's coalition secured 20%, France's Interior Ministry said Monday. Stock Chart Icon Stock chart icon CAC 40 index. Stock Chart Icon Stock chart icon Euro/U.S. National Rally is hoping it will be the party's 28-year-old leader, Jordan Bardella.

Persons: Jordan Bardella, Gabriel Attal, Manuel Bompard, Dimitar Dilkoff, Sebastian Paris Horvitz, CNBC's, Matthew Ryan, —, Emmanuel Macron, Macron, Horvitz Organizations: Rassemblement National, France's, France, TF1, Afp, Getty, NFP, La Banque Postale Asset Management, Citi, National, U.S ., National Assembly, — Locations: London, France, Europe

☆ French stocks and the euro boosted by election results
▼ + stars: | 2024-07-01 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

London CNN —French stocks and the euro rallied Monday after results from the first round of elections suggested the far right will inflict a heavy defeat on President Emmanual Macron but fall short of winning an outright majority in parliament. France’s CAC 40 index, which represents 40 of the biggest companies listed in Paris, rose 2.7% at the open. The euro, which tumbled after Macron called the snap election on June 9, touched the strongest level against the dollar in more than two weeks. Macron’s Ensemble alliance slumped to a dismal third with 20.76%, according to final results published Monday by France’s Interior Ministry. “The immediate reaction is one of a relief rally.”This is a developing story and will be updated.

Persons: Emmanual Macron, Macron, Le, ” Mohit Kumar, Jefferies, “ Organizations: London CNN, Popular Front, France’s Interior Ministry Locations: Paris, Europe

☆ European markets head for higher open as investors digest French election's first round results
▼ + stars: | 2024-07-01 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Poster of Christophe Versini for the Rassemblement National (National Rally) party, with Marine Le Pen and Jordan Bardella on it, on June 24, 2024. LONDON — European stocks are expected to start the new trading week higher as investors in the region digest the results of the first round of France's snap parliamentary election. European markets will be reacting to the results of the first round of the snap parliamentary election in France in which there was a sharp upswing in votes for the anti-immigrant National Rally party. Initial results point to it struggling for an absolute majority in the second round of voting that takes place on July 7, however. Overnight, Asia-Pacific markets started the second half of the year mixed as investors assessed June business activity data from China as well as Japan's business confidence readings.

Persons: Christophe Versini, Jordan Bardella, Germany's DAX, Emmanuel Macron's Organizations: Rassemblement National, LONDON, CAC, IG, National Rally, British Foods Locations: France, Asia, Pacific, China

☆ France's far-right National Rally seen leading in first round of snap election, exit polls show
▼ + stars: | 2024-06-30 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

The first round of a snap parliamentary election in France points to a surge in votes for the anti-immigrant National Rally party, with President Emmanuel Macron's centrist alliance coming into third place. Early polling data from national broadcaster France 2 indicates that National Rally (RN) won 34% of the vote while the leftist New Popular Front (NFP) alliance got 28.1%. If no candidate meets that standard, a second round of voting is held, listing the top two candidates and any other candidates who secured more than 12.5% of registered voters' support. The second round of voting on July 7 is the one to watch, according to Antonio Barroso, deputy director of Research at Teneo. As such, National Rally is widely expected to significantly increase the number of seats it has in France's 577-seat parliament, the National Assembly, from the current level of 89.

Persons: Emmanuel Macron, Emmanuel Macron's, Antonio Barroso Organizations: Nexus Institute, National Rally, France, New Popular Front, Research, NFP, National Assembly Locations: The Hague, Netherlands, France, Teneo

☆ French Far Right Scores Big in a First Round of Voting, Polling Suggests
▼ + stars: | 2024-06-30 | by ( Roger Cohen | ) www.nytimes.com time to read: +1 min

The National Rally party won a crushing victory in the first round of voting for the French National Assembly, according to early projections, bringing its long-taboo brand of nationalist and anti-immigrant politics to the threshold of power for the first time. Pollster projections, which are normally reliable and are based on preliminary results, suggested the party would take about 34 percent of the vote, far ahead of President Emmanuel Macron’s centrist Renaissance party and its allies, which got about 21 percent. But the National Rally now looks very likely to be the largest force in the lower house, although not necessarily with an absolute majority. A coalition of left-wing parties, called the New Popular Front and ranging from the moderate socialists to the far-left France Unbowed, won about 29 percent of the vote, according to the projections. Turnout was very high, reflecting the importance accorded by voters to the snap election, at over 65 percent, compared to 47.51 percent in the first round of the last parliamentary election in 2022.

Persons: Emmanuel Macron’s, France Unbowed Organizations: National Rally, French National Assembly, Renaissance Locations: France

☆ France’s Snap Elections: What to Watch For
▼ + stars: | 2024-06-30 | by ( Aurelien Breeden | ) www.nytimes.com time to read: +1 min

Voters are choosing their 577 representatives in the National Assembly, the country’s lower and more prominent house of Parliament, which will determine the future of Mr. Macron’s second term. A new majority of lawmakers opposed to Mr. Macron would force him to appoint a political opponent as prime minister, radically shifting France’s domestic policy and muddling its foreign policy. Mr. Macron, who has ruled out resigning, cannot call new legislative elections for another year. France’s nationalist, anti-immigrant National Rally party is widely expected to dominate the race. Mr. Macron’s centrist Renaissance party and its allies are expected to lose many seats.

Persons: Emmanuel Macron, Macron’s, Macron Organizations: National Assembly, National, Renaissance Locations: France

☆ A Tiny Circle of Advisers Helped Prod Macron to Take a Giant Risk
▼ + stars: | 2024-06-27 | by ( Roger Cohen | ) www.nytimes.com time to read: +1 min

His prime minister was among the last to know. That is how secretive, how confined to a small group of advisers President Emmanuel Macron’s shock decision to dissolve Parliament and call French legislative elections was. Gabriel Attal, 35, was a personal favorite, his wunderkind, when Mr. Macron named him prime minister in January. Mr. Macron’s style has always been intensely top-down, but this time he has played with the possibility of ushering in the once unthinkable in the form of a far-right government. A photograph posted by Mr. Macron’s official photographer on Instagram captured the dismay when, on June 9, Mr. Macron told his government of his decision.

Persons: Emmanuel Macron’s, Gabriel Attal, Macron, dumbfounded, Instagram, Attal, Darmanin Organizations: National Rally

☆ He's only 28 but has revitalized France's far right: Meet the man who could be the country's next prime minister
▼ + stars: | 2024-06-25 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

Soon, he could well become prime minister if RN wins an absolute majority in the forthcoming parliamentary elections — and he's only 28. Bardella's rise from party spokesman in 2017 to party president over the course of five years is somewhat remarkable for a man who is only 28. Bardella excelled in economics and social sciences at a private college and joined National Rally — then known as the National Front — at the age of 16. Two years later, he became a Member of the European Parliament (MEP) before being made party president in 2022. Jordan Bardella, president of the National Rally, speaks to members of the media as he arrives at Medef in Paris, France, on Thursday, June 20, 2024.

Persons: Jordan Bardella, Julien De Rosa, Bardella, Denis, Joseph Downing, Pen, Jean, Luc Mélenchon, Frederic Chatillon, Le Pen, Le, —, Critics, Francois Lo Presti, Macron, Holger Schmieding, Bardella's, Emmanuel Macron's Organizations: Afp, Getty, National, CNBC, National Rally, Paris Sorbonne University, London School of Economics, European Institute, National Assembly, Le, Palais des Sports, Nurphoto, cri, Union, NATO, Berenberg Bank, Popular, Bloomberg Locations: Paris, Villepinte, France, Bardella, Drancy, Paris suburb, Seine, Montmorency, Morocco, Henin, Beaumont, Ukraine, French, Medef

☆ Dollar steady ahead of inflation reading; yen teeters toward 160
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: +3 min

The dollar was steady on Monday as traders looked ahead to fresh clues on the U.S. inflation path that will likely influence interest rates, while talk from Japanese authorities did little to temper the yen's decline back the round number of 160. The dollar was steady on Monday as traders looked ahead to fresh clues on the U.S. inflation path that will likely influence interest rates, while talk from Japanese authorities did little to temper the yen's decline back the round number of 160. The yen weakened to 159.94 per dollar in early trade on Monday, its lowest since April 29, when the yen touched a 34-year low of 160.245 leading to Japanese authorities spending some 9.8 trillion yen to support the currency. "The combination of slowing activity, a loosening labor market and slower inflation readings make us increasingly confident that the Fed will begin reducing policy rates in September," Citi said. The Australian dollar was last at $0.6640 and the New Zealand dollar was little changed at $0.6113.

Persons: Masato Kanda, Carol Kong, Emmanuel Macron, Christopher Wong Organizations: Bank of, Commonwealth Bank of Australia, Reuters, Citi, Fed, National, New Zealand Locations: Japan, U.S

☆ Opinion | The E.U. Is Revealing Its True Identity. Europeans Don’t Like It.
▼ + stars: | 2024-06-23 | by ( Christopher Caldwell | ) www.nytimes.com time to read: +1 min

In European Parliament elections this month, voters in most of the European Union’s 27 countries rallied to parties that hold the union in contempt. Analysts have leaped to the conclusion that the European Union must have done something wrong. In Germany, where a hard-right party anchored in the formerly Communist East got more votes than any of the three governing parties, voters cited highhanded energy policies. But the European Union’s governing machinery in Brussels is never where voters’ hearts and hopes are. The union is looking more and more like one of those 19th- and 20th-century projects to universalize the un-universalizable, like Esperanto.

Persons: Emmanuel Macron Organizations: European Union, Communist Locations: France, Germany, Communist East, Brussels, Esperanto

☆ French Business Leaders See Threat to Economy From Macron’s Opponents
▼ + stars: | 2024-06-20 | by ( Liz Alderman | ) www.nytimes.com time to read: +1 min

Both the far-right National Rally party in France and its competing left-wing New Popular Front coalition are promising to save the country from financial ruin. But French executives gave a chilly reception Thursday to competing economic platforms from the rival parties, warning that both could endanger the French economy and distance France from the European Union. With less than two weeks before pivotal legislative elections, members of MEDEF, the main employers association in France, held an “audition” for candidates from the main political parties that are vying to seize power from President Emmanuel Macron, whose government has been severely weakened after his party was battered by the far right in European Parliament elections. Mr. Macron called for snap parliamentary elections, gambling that voters would reject extremes and embrace his centrist Renaissance party. The first round of voting is slated for June 30, and the final round for July 7.

Persons: MEDEF, ”, Emmanuel Macron, Macron Organizations: Popular Front, European Union, Renaissance Locations: France

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