DIRS.INFO The most relevant business & tech news

☆ IMF urges BOJ to move away from yield control, prepare for future tightening
▼ + stars: | 2023-07-25 | by ( Leika Kihara | Andrea Shalal | ) www.reuters.com time to read: +3 min

TOKYO/WASHINGTON (Reuters) -The Bank of Japan should start preparing for future monetary tightening by moving away from its yield control policy, the International Monetary Fund’s chief economist Pierre-Olivier Gourinchas said on Tuesday. FILE PHOTO: A Japanese flag flutters on the Bank of Japan building in Tokyo, Japan, March 15, 2016. They have also said the BOJ was mindful of the cost of YCC such as market distortions caused by its heavy bond buying. Widening the allowance band around its 10-year yield target, a step it took last December, could be among options to mitigate the side-effects of YCC, analysts say. Growth in the world’s third-largest economy is expected to slow to 1.0% in 2024 as the effect of past stimulus measures dissipate, the IMF said.

Persons: Pierre, Olivier Gourinchas, Toru Hanai, ” Gourinchas, Gourinchas, Kazuo Ueda Organizations: Bank of Japan, Monetary Fund’s, REUTERS, Reuters Locations: TOKYO, WASHINGTON, Tokyo, Japan

☆ IMF edges 2023 global economic growth forecast higher, sees persistent challenges
▼ + stars: | 2023-07-25 | by ( Andrea Shalal | ) www.reuters.com time to read: +7 min

REUTERS/Ken Cedeno/File PhotoWASHINGTON, July 25 (Reuters) - The International Monetary Fund on Tuesday raised its 2023 global growth estimates slightly given resilient economic activity in the first quarter, but warned that persistent challenges were dampening the medium-term outlook. The 2023-2024 growth forecast remains weak by historical standards, well below the annual average of 3.8% seen in 2000-2019, largely due to weaker manufacturing in advanced economies, and it could stay at that level for years. This was also related to the aging of the global population, especially in countries like China, Germany and Japan, he said. The impact of higher interest rates was especially evident in poorer countries, driving debt costs higher and limiting room for priority investments. It left its forecast for growth in China, the world's second-largest economy, unchanged at 5.2% in 2023 and 4.5% in 2024.

Persons: Pierre, Olivier Gourinchas, Ken Cedeno, we're, Gourinchas, Andrea Shalal, Andrea Ricci Organizations: Research Department IMF, International Monetary Fund, REUTERS, WASHINGTON, Monetary Fund, IMF, Reuters, Health, El, U.S . Federal Reserve, Bank of England, Thomson Locations: Washington , U.S, China, Germany, Japan, United States, Ukraine

☆ Randstad flags tougher job market, earnings beat forecasts
▼ + stars: | 2023-07-25 | by ( Olivier Sorgho | ) www.reuters.com time to read: +2 min

July 25 (Reuters) - Randstad (RAND.AS), the world's biggest staffing firm, on Tuesday flagged weaker demand in a "challenging" jobs market, even as it beat expectations for second-quarter core earnings. "We've had an enormous surge in demand post-COVID ... from there we have sort of gradually seen demand pull back," he added. The company's shares recouped early losses to rise 3.5% by 1013 GMT, as its quarterly core profit beat market forecasts. Underlying earnings before interest, tax and amortisation (EBITA) fell 12% to 271 million euros ($299.8 million), but exceeded the 260 million seen in a company-provided poll. An employer survey from the World Economic Forum earlier this year found that employment could decrease 2% by 2027.

Persons: Sander van't Noordende, We've, Marc Zwartsenburg, Randstad, van't Noordende, Olivier Sorgho, Jacqueline Wong, Milla Nissi, Emma Rumney Organizations: ING, Economic, Thomson Locations: U.S, Britain, China, North America, Europe, Northern Europe, Asia, Pacific, America, Gdansk

☆ IMF: Global economy is improving but inflation is still enemy No. 1
▼ + stars: | 2023-07-25 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Minneapolis CNN —The global economy is showing more resilience than economists previously thought — but, although some risks have abated, choppy waters could still be ahead, the International Monetary Fund said Tuesday. In its latest update to its World Economic Outlook, the agency said it expects global growth of 3% in both 2023 and 2024. “Global economic activity has proven resilient in the first quarter of this year, leading to a modest upward revision for global growth in 2023,” Pierre-Olivier Gourinchas, the IMF’s chief economist, said in a statement. From 2000 to 2019, annual global economic growth averaged 3.8%, according to the IMF. When looking across the global economy, there are concerns that China’s recovery could slow further, as its debt-laden real estate sector weighs on growth, according to the report.

Persons: ” Pierre, Olivier Gourinchas, Chris Ratcliffe, ” Gourinchas, Gourinchas, “, ” Organizations: Minneapolis CNN, International Monetary Fund, Economic, IMF, Bloomberg, Getty, Publishing, Federal Reserve Locations: Minneapolis, Oxford, United Kingdom, United States, Europe, Ukraine, Germany, Yantai, Shandong province, China

☆ Global economy 'not out of the woods' yet despite growth forecast hike, says IMF chief economist
▼ + stars: | 2023-07-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGlobal economy 'not out of the woods' yet despite growth forecast hike, says IMF chief economistIMF Chief Economist Pierre-Olivier Gourinchas joins 'Squawk on the Street' to discuss what investors should take away from the IMF's latest forecast bump, whether now may not be a good time to end the Federal Reserve's rate campaign, and more.

Persons: Pierre, Olivier Gourinchas

☆ IMF raises global growth forecast despite China's recovery 'losing steam'
▼ + stars: | 2023-07-25 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

watch nowThe International Monetary Fund on Tuesday raised its growth forecast for the global economy, turning slightly more positive despite slowing momentum from China. In the latest update to its World Economic Outlook, the IMF raised its 2023 global growth prediction by 0.2 percentage point to 3%, up from 2.8% in its April assessment. "The global economy continues to gradually recover from the pandemic and Russia's invasion of Ukraine. In China, the recovery following the reopening of its economy shows signs of losing steam amid continued concerns about the property sector, with implications for the global economy," Gourinchas said. This is due to weaker manufacturing output and lower growth performance during the first quarter of this year, the IMF said.

Persons: Pierre, Olivier Gourinchas, Gourinchas, Cyrus de la Rubia Organizations: Monetary Fund, Economic, IMF, Hamburg Commercial Bank Locations: China, Ukraine, U.S, United States, Beijing, Germany

The deal to buy Collins' actuation and flights controls business marks the French engine and aircraft equipment maker's biggest acquisition since the 2018 purchase of seat maker Zodiac. "We are going to move towards more electrical actuation and flight controls," Safran's Chief Executive Officer Olivier Andries said. Collins Aerospace, part of U.S. aerospace and defence giant Raytheon Technologies, recently renamed RTX (RTX.N), said the sale would "optimize resources". Safran said its all-cash offer gave the business it is acquiring an enterprise value of $1.8 billion. Safran said Collins would remain a key customer for the business as a manufacturer of nacelles or engine housings for jetliners, making up 25% of the acquired activity's revenues.

Persons: France's Safran, SAF.PA, Collins, Olivier Andries, Safran, Andries, Pascal Bantegnie, Augustin Turpin, Tim Hepher, Jan Harvey, Jane Merriman, Elaine Hardcastle Organizations: Collins Aerospace, Raytheon Technologies, Airbus, Boeing, French Rafale, Parker Aerospace, Thomson Locations: U.S, Paris, American, Eaton, United States, Europe

☆ Extreme heat in the Mediterranean could dent tourist bookings in future
▼ + stars: | 2023-07-21 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

“This can be attributed to travelers seeking out less crowded destinations, and milder temperatures,” the association said. This summer’s extreme temperatures follow blistering heat last year. Meanwhile, online searches for northern European destinations increased by 3 percentage points to hit 10%. Southern Europe still popular with BritsDespite rocketing temperatures, countries in southern Europe are still the go-to spots for many vacationers. Spain, Greece and Turkey are still “by far the most popular [destinations],” he said, which hasn’t “changed at all.”— Barbie Latza Nadeau and Chris Liakos contributed reporting.

Persons: Angelos Tzortzinis, Olivier Ponti, ”, —, Johan Lundgren, Giuseppe Napolitano, Thomas Cook, Sean Tipton, hasn’t “, ” — Barbie Latza Nadeau, Chris Liakos Organizations: London CNN —, European Travel Commission, Tourism Council, Tourists, CNN, European Space Agency, ESA, British, Med Locations: London CNN — Spain, Italy, Europe, Brussels, Spain, France, Croatia, Greece, Czech Republic, Bulgaria, Ireland, Denmark, Athens, United Kingdom, Rome, Nicosia, Cyprus, Catania, Sicily, Southern Europe, Turkey

North America revenue for the current quarter will be slightly down, Chief Executive Olivier Le Peuch said in a post-earnings conference call with analysts, saying activity in the region was moderating. However, the company expects third quarter revenue from international markets to grow by a mid-single digit percentage, citing a resurgence in offshore and Middle East drilling. In comparison, last quarter's international revenue rose 21% to $6.3 billion and North America's climbed 14% to $1.75 billion. Analysts at Tudor Pickering Holt noted that international revenue missed its estimate by $1 billion, while North America slightly topped its forecast. Revenue of $8.1 billion fell slightly below analysts' estimate of $8.2 billion.

Persons: Baker Hughes, Olivier Le Peuch, America's, Tudor Pickering Holt, Peter McNally, Arathy Somasekhar, Arunima Kumar, Sriraj Kalluvila, David Holmes, Nick Zieminski Organizations: Schlumberger, Halliburton, North America, Thomson Locations: HOUSTON, America, North America, Tudor, Houston, Bengaluru

Supporters of student debt forgiveness demonstrate outside the U.S. Supreme Court on June 30, 2023, in Washington, DC. Student loan forgiveness is federally tax-free through 2025 because of a provision from the American Rescue Plan of 2021, Biden's $1.9 trillion Covid-19 stimulus package. While the Tax Foundation estimated that seven states could tax student loan forgiveness in August 2022, it's still possible to see legislative changes. "No one wants to be the state that's taxing loan forgiveness," Miller added. While public service loan forgiveness has always been tax-free, the current taxation for income-driven repayment plans is only temporary.

Persons: Olivier Douliery, Biden, Ethan Miller, Miller, it's, Becca Craig, Lee Reams Sr Organizations: U.S, Supreme, AFP, Getty, American, Planning, Progress, D.C, Tax Foundation, Strategic Wealth Locations: Washington ,, Washington, Kansas City , Missouri

☆ China takes major step in regulating generative AI services like ChatGPT
▼ + stars: | 2023-07-14 | by ( Laura He | ) edition.cnn.com time to read: +4 min

China also urges platforms to “participate in the formulation of international rules and standards” related to generative AI, it said. Generative AI tools like ChatGPT have taken the world by storm. Generative AI refers to the technology that underpins platforms like ChatGPT. In the global race to build guardrails for how governments tap AI, China had gained a significant head start, US Senator Mark Warner warned last month. So far, Baidu, Alibaba and JD.com’s generative AI services are either in the trial stage or being tested by corporate users.

Persons: —, Olivier Morin, Mark Warner, ” Organizations: Hong Kong CNN, Cyberspace Administration, Ant, Baidu, Getty, China, Politico’s Global Tech Summit ., ” Citi, National Development, Reform Commission Locations: Hong Kong, China, Beijing, AFP, United States

☆ Frank founder Charlie Javice gave JP Morgan millions of names and emails for college students she said were customers, but 'it was all fake,' prosecutor says
▼ + stars: | 2023-07-13 | by ( Nate Schweber | ) www.businessinsider.com time to read: +4 min

Javice is accused of grossly exaggerating the numbers of customers she had before her sale to JP Morgan. After hat after the initial deception to JP Morgan Chase, Javice and Amar pivoted to another, Fergenson said. Javice and Amar presented it all in a spreadsheet to JP Morgan Chase, representing all of the names to be Frank users, Fergenson said. Javice's attorney, Alex Spiro, who has alleged that JP Morgan Chase is retaliating against his client for her exposure of their violating of privacy laws, objected. "The government is just regurgitating to the court JP Morgan Chase's civil lawsuit," he said.

Persons: Frank, Charlie Javice, Javice, JP Morgan, Olivier Amar, JP Morgan Chase, Mr, Amar, Micah F, Fergenson, Morgan Chase, Alvin K, Hellerstein, nodded, —, Alex Spiro, Morgan, Judge Hellerstein Organizations: University of Pennsylvania's Wharton School of Business, Forbes, Fast Company, of, Securities and Exchange Commission Locations: Manhattan, Pennsylvania, Southern, of New York

☆ US charges second Frank college aid executive with defrauding JPMorgan
▼ + stars: | 2023-07-12 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +1 min

Companies JPMorgan Chase & Co FollowNEW YORK, July 12 (Reuters) - U.S. prosecutors on Wednesday unveiled an indictment charging Olivier Amar, who helped run college financial aid startup Frank, with defrauding JPMorgan Chase (JPM.N) into buying their company for $175 million. Amar, who was Frank's chief growth officer, was charged with wire fraud, bank fraud, securities fraud and conspiracy, becoming the second company official indicted in the case. Lawyers for Amar, whose whereabouts were not immediately known, did not immediately respond to a request for comment. A spokesman for the U.S. Attorney's office in Manhattan also did not immediately respond to a request for comment. The bank shut down Frank in January, and Chief Executive Jamie Dimon branded the acquisition a "huge mistake."

Persons: Olivier Amar, Amar, Frank, Charlie Javice, Javice, Jamie Dimon, counterclaims, Luc Cohen, Bill Berkrot Organizations: JPMorgan Chase, U.S, JPMorgan, Thomson Locations: Manhattan, U.S, Amar, Delaware, New York

☆ Here's the inflation breakdown for June, in one chart
▼ + stars: | 2023-07-12 | by ( Greg Iacurci | ) www.cnbc.com time to read: +7 min

The CPI is a key barometer of inflation, measuring prices of anything from fruits and vegetables to haircuts and concert tickets. Hourly earnings increased 0.2%, on average, from May to June after accounting for inflation, according to BLS data. 'Encouraging' inflation signals moving forwardThe inflation slowdown has been broad-based, Zandi said. watch nowGrocery price inflation is also down significantly from its peak around 14% last summer, which had been the highest rate since 1979. Economists say it's a near certainty that housing prices will continue to fall through the second half of the year.

Persons: Michael M, Mark Zandi, Zandi, we're, Mark Hamrick, Andrew Hunter, Ben Bernanke, Olivier Blanchard, Stephanie Roth, Roth Organizations: Lincoln Market, Santiago, Getty, U.S . Bureau of Labor Statistics, Moody's, BLS, Capital Economics, Finance, U.S . Federal Reserve, Peterson Institute for International Economics, Morgan Private Bank Locations: Brooklyn , New York, U.S, Ukraine

☆ Migration pushes EU population back to growth in 2022
▼ + stars: | 2023-07-11 | by ( Olivier Sorgho | ) www.reuters.com time to read: +1 min

REUTERS/Michele TantussiJuly 11 (Reuters) - The European Union's population rose for the first time in three years in 2022, boosted by migration into the bloc even as more people died than were born, the EU's statistics office Eurostat said on Tuesday. The political alliance's population rose from 446.7 million on Jan. 1, 2022 to 448.4 million people a year later. "The observed population growth can be largely attributed to the increased migratory movements post-COVID-19 and to the mass influx of displaced persons from Ukraine who received temporary protection status in EU countries," Eurostat said. Eurostat said only seven countries recorded a drop in their populations in 2022, including Italy whose population fell by nearly 180,000 people. The twenty remaining countries within the bloc saw their populations rise.

Persons: Michele Tantussi, Olivier Sorgho, Milla Nissi, Christina Fincher Organizations: REUTERS, Eurostat, Thomson Locations: Ukraine, Tegel, Berlin, Germany, Italy, Gdansk

☆ French central bank head warns against raising ECB inflation target
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +2 min

AIX-EN-PROVENCE, France, July 9 (Reuters) - France's central bank head Francois Villeroy de Galhau pushed back on Sunday against a suggestion from some French economists to raise the European Central Bank's (ECB) 2% inflation target. The aim is to bring inflation down to the 2% target by 2025, Villeroy said at an economics conference in the southern French city of Aix-en-Province. Former IMF chief economist, Frenchman Olivier Blanchard, has long called for a higher inflation target than the 2% shared by most major central banks, arguing that the increased flexibility that would provide would outweigh the costs. In response, Villeroy said that a higher inflation target was a "false good idea" and would lead to higher rather than lower borrowing costs. "If we announced our inflation target is no longer 2% but 3%, lenders would immediately demand higher interest rates, at least 1% (more)" in anticipation of higher inflation and uncertainty Villeroy said.

Persons: Francois Villeroy de Galhau, Villeroy, Frenchman Olivier Blanchard, Patrick Artus, Bruno Le Maire, Andrew Bailey, Leigh Thomas, William Schomberg, Elaine Hardcastle, Alexander Smith Organizations: Bank's, Former IMF, Veteran, French Finance, Bank of England, Thomson Locations: PROVENCE, France, French, Aix, Province, London

☆ Should public buses be free?
▼ + stars: | 2023-07-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +10 min

New York CNN —More major cities in the United States are letting public transit riders hop on board for free. Boston is piloting three zero-fare public bus routes, and New York City is expected to test free buses on five lines. Fares made up, on average, 12.5% of transit agencies’ operating expenses in 2021, down from 31.4% in 2019, according to the American Public Transit Association. “By offering free public transport, we are not really attracting car drivers in large volumes,” said Mohamed Mezghani, secretary general of the International Association of Public Transport. “There’s no such thing as free transit,” he added.

Persons: Michelle Wu, “, ”, Lane Turner, Stephanie Lotshaw, American Public Transit Association . Massachusetts Sen, Edward Markey, Ayanna Pressley, Wu, Matt Stone, Henry Bendon, ” Bendon, Fares, Pat Greenhouse, Mohamed Mezghani, Sarah Kaufman, There’s, Boston Mayor Wu, Olivier Douliery, Richard Jarrold, Jarrold Organizations: New, New York CNN, Boston, CNN, Boston Globe, American Public Transit Association . Massachusetts, US, MediaNews, Boston Herald, Getty, Richmond, Agency, American Public Transit Association, Kansas City, International Association of Public Transport, “, Rudin Center, Transportation, New York University, Boston Mayor, Getty Images Washington, Transportation Authority Locations: New York, United States, Kansas City, Raleigh, Richmond, Olympia, Tucson, Alexandria, Virginia, Denver, Boston, New York City, America, Tallinn, Estonia, Dunkirk, France, Luxembourg, Washington ,, AFP, Kansas

☆ NATO allies to spend 'at least 2%' of GDP on defence, diplomats say
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

OLIVIER MATTHYS/Pool via REUTERS/File PhotoBRUSSELS, July 7 (Reuters) - NATO allies have reached agreement to raise the alliance's target for military spending to at least 2% of national GDP, two diplomats told Reuters late on Friday. Agreement on the new spending target was one of the outstanding issues ahead of a two-day NATO summit on Tuesday and Wednesday next week in Vilnius. NATO Secretary-General Jens Stoltenberg intended to make NATO's current military spending target of 2% of national GDP a minimum requirement rather than a goal to aim for. The goal was set in 2014, when NATO leaders agreed to increase spending towards 2% of their GDP on defence within a decade. Bringing up the rear are Canada, Slovenia, Turkey, Spain, Belgium and Luxembourg, whose defence spending was under 1.4% of GDP.

Persons: OLIVIER MATTHYS, Jens Stoltenberg, Sabine Siebold, Leslie Adler, Jonathan Oatis Organizations: NATO, Alliance, Reuters, Thomson Locations: Brussels, Belgium, Finland, BRUSSELS, Vilnius, United States, Britain, Poland, Greece, Estonia, Lithuania, Romania, Hungary, Latvia, Slovakia, Canada, Slovenia, Turkey, Spain, Luxembourg

☆ NATO allies agree to spend 'at least 2%' of their GDP on defence -diplomats
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

☆ Former adtech unicorn MediaMath nearly saved itself from bankruptcy. Then its last hope vanished.
▼ + stars: | 2023-07-06 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +15 min

The adtech company held panel sessions and meetings at the "MediaMath Penthouse." But behind the scenes, MediaMath CEO Neil Nguyen had barely been sleeping, according to three people familiar with the matter. "We collectively believed as a company, board, and advisors that we had a deal in hand," the statement continued. When advertisers or agencies buy ads through a platform like MediaMath, the adtech company must pay publishers immediately for their ad space. But the adtech company must wait — often 90 days or more — to be paid by the advertiser or agency.

Persons: MediaMath, Goldman Sachs, MediaMath execs, Neil Nguyen, Nguyen, Olivier Anrigo, Xandr, Joe Zawadzki, Ernest Hemingway, Searchlight wasn't, Neil, Houlihan Lokey, Zeta, Viant, Chris Vanderhook, Tim Vanderhook, Frederick M, Brown, MGI, Lionel Hahn, Remco Westermann, Gary Hershorn, MGI's, Westermann, they'll, Zawadzki, he'd Organizations: Cannes Lions, Cannes, Goldman, Searchlight Capital, Carlton Hotel, Google, IBM, Bain Capital —, Aperiam, Searchlight, Silicon, Zeta Global, Media, Games Invest, Verve, MGI's Verve Group, Getty, Verve Group, Trade, World Trade, Trade Center Locations: France, Cannes, hobnobbing, Delaware, Japan, Manhattan, New York City, MediaMath, AperiamVentures

☆ Kylian Mbappé: New PSG coach Luis Enrique swerves question on French star’s future
▼ + stars: | 2023-07-05 | by ( Ben Morse | ) edition.cnn.com time to read: +5 min

CNN —New Paris Saint-Germain head coach Luis Enrique swerved multiple questions about the future of the club’s star attacker Kylian Mbappé during his official unveiling on Wednesday. This is a French club, and as he has said, he is not planning to leave for free. It is very clear.”The future of Mbappé will be one of the biggest question marks hanging over Enrique’s beginning as PSG manager after joining on Wednesday. However, despite the star-studded nature of the squad, PSG once again suffered a humiliating from the Champions League in the knockout stages, losing to Bayern Munich. CNN reached out to Galtier’s representation and PSG for comment at the time but did not receive a response.

Persons: Germain, Luis Enrique swerved, Kylian Mbappé, Enrique, Mbappé, “, … He’s, Nasser Al, Khelaifi, Luis, Campos, Gonzalo Fuentes, Christophe Galtier, Galtier, John Valovic, ”, Olivier Martin Organizations: CNN, New, New Paris Saint, Spanish national, PSG, ” PSG, League, UEFA Nations League, Roma, Celta Vigo, Real Madrid, Spain national, La Roja, French League, Ligue, Champions League, Bayern Munich Locations: New Paris, Barcelona, Paris, French, Spain, Italian, Barça, Nice, France, Galtier

☆ Fundraiser for policeman who shot French teenager reflects divisions
▼ + stars: | 2023-07-04 | by ( Elizabeth Pineau | ) www.reuters.com time to read: +4 min

Leftwing politicians have branded the fundraiser as shameful while the far right has defended a police force it says is a daily target for violence in the low-income suburbs that ring French cities. It is a debate that reflects the deep fractures running through French society. "This police officer is the victim of a national witch-hunt and it is a disgrace," Messiha tweeted soon after launching the campaign. "You are perpetuating an already yawning rift by supporting a police officer under investigation for voluntary homicide. ($1 = 0.9173 euros)Reporting by Elizabeth Pineau; Writing by Richard Lough, editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Macron, Nahel, Jean Messiha, Eric Zemmour's, Messiha, Olivier Faure, GoFundMe, Eric Dupond, Moretti, Emmanuel Macron, Elizabeth Pineau, Richard Lough, Emelia Sithole Organizations: U.S, Socialist Party, France Inter, Police, Thomson Locations: PARIS, France, French, Algerian, United States, Britain

☆ PSG coach Christophe Galtier to stand trial for alleged psychological harassment and racial discrimination
▼ + stars: | 2023-07-03 | by ( Matt Foster | ) edition.cnn.com time to read: +2 min

CNN —Paris Saint-Germain (PSG) coach Christophe Galtier is to stand trial in Nice, France, over allegations of psychological harassment and racial discrimination, according to the public prosecutor involved in the case. Xavier Bonhomme, the prosecutor for the judicial court in Nice, tweeted a photo of the office’s press release relating to the matter on Friday. Prosecutors say the two men have denied the offenses. Prosecutors in Nice say that the preliminary investigation involved interviews with Nice players during Galtier’s tenure, as well as directors and staff members at the club. Prosecutors say the maximum punishment Galtier could face if found guilty of psychological harassment and racial discrimination is a three year prison sentence and a €45,000 fine (around $49,000)

Persons: Germain, Christophe Galtier, Xavier Bonhomme, John Valovic, Galtier, Valovic, “, ”, Olivier Martin, Julien Fournier, Fournier, Julien Absalon, Dave Brailsford, Galtier’s Organizations: CNN, Paris Saint, PSG, Prosecutors, Nice, OGC Nice Locations: Nice, France, Galtier, Europe

It also defies protests from a minority of activist investors who want oil companies to be more closely aligned with global efforts to mitigate climate change. An oil and gas price rally driven by energy producer Russia's invasion of Ukraine translated into record profits for the energy majors. That has increased confidence in the most costly, high-risk offshore exploration that can also deliver the highest rewards. Wood Mackenzie analysts predict a continued increase in activity, forecasting offshore exploration and drilling activity to grow by 20% by 2025. Wood Mackenzie meanwhile predicts the commitment of up to $185 billion to develop 27 billion barrels of oil reserves, with international oil companies focused on the higher-cost, higher-return deepwater developments.

Persons: Olivier Le Peuch, Baker Hughes, Wood Mackenzie, Leslie Cook, TotalEnergies, Yujnovich, QatarEnergy, Shell, Graff, La Rona, Ron Bousso, Barbara Lewis Organizations: Shell, BP, SLB, Reuters, International Energy Agency, Barclays, West Africa –, Nambia's Petroleum, Thomson Locations: Namibia, Ukraine, Gulf of Mexico, South America, West Africa, NAMIBIA, Canada

But officially colour-blind France has long refused to acknowledge any racial factor was at play. "From that point on, unions were involved in everything that's co-managed, including the managing of human resources," he told Reuters. But these fines are rare and rights groups say police officers often end up with light sentences, fuelling a sense of impunity. A rise in lethal police shootings over the last few years has been linked to a law reform in 2017, which broadens the circumstances in which an officer can use their firearm. "It is completely vague, and it allows to shoot much more freely," said Caille of the left-wing CGT police union.

Persons: Cedric Mas, Olivier Cahn, that's, " Cahn, Christophe Castaner, Gerald Darmanin, Franck Louvrier, Nicolas Sarkozy, Darmanin, Ravina Shamdasani, Anthony Caille, –, Sebastian Roche, Michel Rose, Angus MacSwan Organizations: Rights, Twitter, Cergy University, Reuters, Socialists, United Nations, Police, CGT Police, of, Society, CGT, Thomson Locations: PARIS, Britain, France, United States, Paris, Moroccan, – France, U.S, Nice

Search resuls for: "olivier"

25 mentions found