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☆ Remy Cointreau keeps outlook as annual profit beat forecasts
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

PARIS, June 1 (Reuters) - French spirits group Remy Cointreau (RCOP.PA) reported a higher-than-expected rise in operating profit for its 2022/23 fiscal year and stuck to its cautious prospects for this year. The maker of Remy Martin cognac and Cointreau liquor reiterated a prediction of flat organic sales in financial year 2023-2024, with steady profitability, to reflect weaker U.S. demand and high year-ago comparables. This beat expectations for a 14.4% rise in a company compiled consensus of 18 analysts. Already reported group sales were 1.55 billion euros, marking an organic rise of 10.1%. ($1 = 0.9084 euros)Reporting by Dominique Vidalon; Editing by Benoit Van OverstraetenOur Standards: The Thomson Reuters Trust Principles.

Persons: Remy Cointreau, Remy Martin, Dominique Vidalon, Benoit Van Overstraeten Organizations: Thomson Locations: China, United States

☆ France's Le Maire wants to break food price inflation "spiral" by autumn
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

Summary Le Maire: economic growth remains solidLe Maire: meeting next week to tackle inflation concernsPARIS, May 3 (Reuters) - Finance Minister Bruno Le Maire said on Wednesday that he would meet with retailers and suppliers next week to discuss ways to break the food price inflation "spiral" by autumn, which is a major concern for cash-strapped consumers. Le Maire also told Franceinfo radio that economic growth remained solid in France despite recent strikes and protests against President Emmanuel Macron's legislation to raise the retirement age by two years to 64. Le Maire has since repeatedly called on both sides to reopen negotiations to ensure that a recent fall in global wholesale food prices is passed on to consumers. Le Maire has even threatened to take action if they do not respond to his calls. Bank of France governor and European Central Bank member Francois Villeroy de Galhau said last month he expected food price inflation to start easing in the second half of this year.

☆ 'Focused on the job': France's Le Maire defends writing of steamy novel
▼ + stars: | 2023-05-03 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

PARIS, May 3 (Reuters) - French Finance Minister Bruno Le Maire said he was fully focused on creating growth and fighting inflation after coming under fire for penning a steamy novel that was published hours before France's credit rating was downgraded by an agency. "I am 100% focused on the job," Le Maire told Franceinfo radio. It is a graphic account of Oskar having sex with a character named Julia that has exposed Le Maire to mocking and criticism. The French edition of the Huffington Post headlined a story "Bruno Le Maire has written about an anus and no one was ready for this." "These are 10 lines out of a 480 pages book," Le Maire shot back when pushed on his writings during the Franceinfo interview.

Cost inflation rose during the COVID-19 pandemic and was exacerbated by Russia's invasion of Ukraine, which sent energy prices to record highs last year. Energy costs have since dropped, however, while global prices for some commodities are rising more slowly. Companies like Nestle (NESN.S), Reckitt Benckiser (RKT.L) and Danone (DANO.PA) continued to raise prices sharply in the first quarter even though input costs are easing. First quarter price/mix, a basket of variables the company uses to help determine what prices to charge, rose 12.4% while sales volumes declined 4.5%. Similarly, Nestle increased its prices by 9.8% during the quarter and sales volumes - which the company calls real internal growth - fell only 0.5%.

☆ Danone raises sales outlook as shoppers absorb price hikes
▼ + stars: | 2023-04-26 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

PARIS, April 26 (Reuters) - Danone (DANO.PA), the world's largest yoghurt-maker, raised its 2023 outlook on Wednesday after it managed to pass on increased costs through price rises and first-quarter sales growth was the fastest in a decade. Danone, which expects prices to peak this year and also anticipates productivity gains, kept its forecast for a moderate improvement in recurring operating margin for the year. The maker of Activia yoghurt, Evian water and Aptamil infant milk said it expected like-for-like 2023 sales growth of between 4% and 6%, having previously forecast 3%-5% growth. Danone increased its prices by 10.3% during the quarter while sales volume remained positive, up 0.2%. In China, Infant Nutrition, and also Adult and Pediatric Specialties made a particularly strong start to the year with double-digit growth.

☆ Danone raises 2023 sales outlook after price hikes boost Q1
▼ + stars: | 2023-04-26 | by ( Dominique Vidalon | ) www.reuters.com time to read: +1 min

PARIS, April 26 (Reuters) - Danone (DANO.PA) raised its 2023 sales growth outlook after it reported higher-than-expected first-quarter revenue on Wednesday, as the world's largest yoghurt maker was able to raise prices in the face of high raw materials and energy costs. Danone, maker of Activia yoghurt, Evian water and Aptamil infant milk said it expected like-for-like 2023 sales growth of between 4% and 6%, having previously forecast 3-5% growth. Danone said sales rose 10.5% like-for-like to 6.96 billion euros in the first quarter, beating expectations for 7.3% growth in a company-compiled consensus of 18 analysts. Danone, like its rivals Nestle (NESN.S) and Unilever (ULVR.L), has increased prices to cope with surging commodities and supply chain costs but faces a challenge when it comes to the extent of price hikes before even affluent shoppers decide enough is enough. Danone increased its prices by 10.3% during the quarter while sales volume remained positive, up 0.2%.

☆ French police cleared to use drones for crowd monitoring
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

[1/2] French gendarmes stand in position during a demonstration in front of the Paris City Hall after French government's pension reform received the Constitutional Council's green light and can now be signed into law and enter into force swiftly, in Paris, France, April 14, 2023. REUTERS/Stephane MahePARIS, April 21 (Reuters) - French police is allowed from Friday to use drones equipped with cameras for a wide range of tasks including crowd monitoring and border control, following the publication of a decree in the Official Journal on Thursday. This comes just over a year before the Paris 2024 Olympics and at a time when opposition to President Emmanuel Macron's pension reform has triggered huge protests that at times turned violent. The drones can also be used for the prevention of terrorist acts, the regulation of transport flows, border surveillance, and rescuing people, the decree said. The decree details and implements in practice a security law voted by parliament last year.

☆ France to witness 12th nationwide strike against Macron's pension law
▼ + stars: | 2023-04-13 | by ( Ingrid Melander | ) www.reuters.com time to read: +3 min

[1/2] Protesters hold a drawing depicting a portrait of French President Emmanuel Macron during a demonstration as part of the tenth day of nationwide strikes and protests against French government's pension reform in Paris, France, March 28, 2023. "I'm not that optimistic about the Constitutional Council's decision," far-right leader Marine Le Pen told BFM TV, who is against the pension bill. Macron and his government argue the law is essential to ensure that France's generous pension system does not go bust. Unions say this can be done by other means, including taxing the rich more, or making deeper changes to the pension system. However, the CGT union called for a walkout at all refineries on Thursday as part of the nationwide strike.

[1/4] Britain's King Charles waves as he arrives for a visit to the new European Bank for Reconstruction and Development (EBRD) in London, Britain March 23, 2023. Kirsty Wigglesworth/Pool via REUTERSPARIS, March 24 (Reuters) - Britain's King Charles on Friday cancelled a state visit to France after social unrest over President Emmanuel Macron's new pension law erupted into some of the worst street violence seen in years across the country. "The King and The Queen Consort's State Visit to France has been postponed. Their Majesties greatly look forward to the opportunity to visit France as soon as dates can be found," a Buckingham Palace spokesperson said. A Buckingham Palace source said Charles' visit to Germany will go ahead as planned.

REUTERS/Eric GaillardSummary Pushed pension changes through with no voteGovernment barely survived no-confidence motionStrikes and protests continuePARIS, March 22 (Reuters) - President Emmanuel Macron on Wednesday said a deeply unpopular new law that raises the retirement age was necessary and would enter into force by the end of the year. "Do you think I enjoy doing this reform? "But there is not a hundred ways to balance the accounts ... this reform is necessary." Polls show a wide majority of French are opposed to the pension legislation, as well as the government's decision to push the bill through parliament last week without a vote. "I don't expect much from Macron's speech," pensioner Jacques Borensztejn said at a rally on Tuesday in Paris.

Protests against the bill have drawn huge crowds in rallies organised by unions since January. Most have been peaceful, but anger has mounted since the government pushed the bill through parliament without a vote last week. The ongoing protests could impact a planned state visit next week of Britain's King Charles, a Buckingham Palace source said. While the opposition has called for Macron to fire his prime minister, Elisabeth Borne, who has been at the forefront of the pension reform, Macron backed her and said that he had tasked her to work on new reforms. "Tomorrow we will be on the streets again to demonstrate against the pension reform and demand its withdrawal," said one of them, CFDT union member Sophie Trastour.

☆ France's Macron faces another test with parliamentary votes on Monday
▼ + stars: | 2023-03-19 | by ( Dominique Vidalon | ) www.reuters.com time to read: +3 min

However, while Monday's votes may put on display anger at Macron's government, they are unlikely to bring it down. Opposition lawmakers filed two motions of no-confidence in parliament on Friday. Centrist group Liot proposed a multiparty no-confidence motion, which was co-signed by the far-left Nupes alliance. Hours later, France's far-right National Rally party, which has 88 National Assembly members, also filed a no-confidence motion. None of them had sponsored the first no-confidence motion filed on Friday.

☆ Stellantis invests 200 million euros to produce Fiat cars in Algeria
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: 1 min

Companies Stellantis NV FollowPARIS, March 19 (Reuters) - Carmaker Stellantis will spend more than 200 million euros ($213.32 million) to manufacture four Fiat models in Algeria, it said on Sunday. Construction of the plant will be completed by August with production of the the first Fiat 500 expected by the end of the year, it said. By 2026 the plant will have created nearly 2,000 local jobs and have production capacity of 90,000 vehicles a year. ($1 = 0.9376 euros)Reporting by Dominique Vidalon and Gilles Guillaume Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Protests resume in France amid anger at Macron's pension age reform
▼ + stars: | 2023-03-18 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo FuentesPARIS, March 18 (Reuters) - Refinery strikes persisted on Saturday in France and more demonstrations were taking place throughout the country amid anger at the government pushing through a rise in the state pension age without a parliamentary vote. A further rally was planned in Paris later on Saturday while BFM television showed images of demonstrations already taking place in cities such as Compiegne in the north, Nantes in the west and Saint-Etienne in central France. A broad alliance of France's main unions has said it would continue to mobilise to try to force a U-turn on the changes. Macron's overhaul raises the pension age by two years to 64, which the government says is essential to ensure the system does not go bust. Reporting by Dominique Vidalon; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ French protests: 37% of operational staff at TotalEnergies' refineries on strike
▼ + stars: | 2023-03-18 | by ( ) www.reuters.com time to read: +1 min

PARIS, March 18 (Reuters) - Some 37% of operational staff at TotalEnergies' (TTEF.PA) refineries and depots were on strike on Saturday amid persisting protests in France against the government's move to raise the retirement age by two years to 64. French fuel supplies could be put at risk again next week following union calls to extend 10 days of strike action at refineries. The Donges refinery in the west has been offline due to a technical problem with an electricity transformer, he said. At the company's Normandy site in the north, operations and production at a large number of units were normal. At oil major ExxonMobil's (XOM.N) Esso-branded Port Jerome-Gravenchon refinery in Normandy, fuel deliveries were halted for at least 24 hours, a representative of the hardline CGT labour union said.

☆ ECB's Villeroy: rate hike signals strong confidence in European banks
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

PARIS, March 17 (Reuters) - The European Central Bank's decision to raise interest rates by half a point on Thursday reflects the central bank's priority of fighting inflation and also signals strong confidence in the solidity of European banks, French ECB policymaker Francois Villeroy de Galhau said on Friday. "French and European banks are very solid," Villeroy, who is also governor of the French central bank, said on BFM business radio. "I think we sent a signal of confidence that is strong and dual. It reflects both confidence in our anti-inflation strategy and confidence in the solidity of European and French banks," Villeroy said. While the ECB had "the tools to ensure the liquidity of banks", Villeroy said it was unlikely it would have to use them as "European banks are not in the same situation as U.S. banks".

Cars were torched in Paris and other French cities in the evening during otherwise peaceful demonstrations involving several thousand people. "Something fundamental happened, and that is that, immediately, spontaneous mobilisations took place throughout the country," hard-left leader Jean-Luc Melenchon said. Protests took place in cities including Toulon on Friday, and more were planned for the weekend. Macron will want to turn the page quickly, with government officials already preparing more socially minded reforms. Amid the unrest on Thursday evening, someone had tagged on a shop front: "Let's destroy what destroys us."

☆ Farming and tourism under threat as winter drought dries up France's Lake Montbel
▼ + stars: | 2023-03-17 | by ( Manuel Ausloos | ) www.reuters.com time to read: +4 min

PARIS, March 17 (Reuters) - Set at foot of the Pyrenees mountains, Lake Montbel is famous in south-west France for its turquoise waters, massive size and thriving aquatic life. For the month of February, the Ariege region, where Lake Montbel is located, has suffered from a rainfall shortage of 80%. Lake Montbel is an artificial lake, which extends over 570 hectares and was created in 1985 by flooding what used to be a forested area. "Lake Montbel, in fact, is the guarantee of income ... Mascarenc uses water from the nearby Ariege river and not from Montbel Lake.

[1/8] Protesters, holding a placard which reads "Members of parliament, do not vote the pension reform bill", gather in front of the National Assembly in Paris as French parliament set to vote on pensions reform bill, France, March 16, 2023. The afternoon vote in the National Assembly, the lower house of parliament, is a different matter. "It seems that the tally does not ensure a win in the National Assembly," Bruno Retailleau, the head of the LR senators told Public Senat TV. It could decide to resort to a procedure known as "49:3", which would allow it to push the text through without a vote. "If this reform is adopted, the anger and the contestation of this reform will not end," Laurent Berger, the head of CFDT, France's largest union, told franceinfo.

☆ Canada's Couche-Tard to buy some TotalEnergies stations in $3.3 bln deal
▼ + stars: | 2023-03-16 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

The companies said that under the deal the Canadian firm would buy all of TotalEnergies' service stations in Germany and the Netherlands, as well as purchasing a 60% stake in the French company's stations in Belgium and Luxembourg. "Service stations must expand from just selling fuel to become fully-fledged service hubs," TotalEnergies CEO Patrick Pouyanne said in a joint statement. Since 2015, TotalEnergies has divested its service station networks in Italy, Switzerland and the United Kingdom. Couche-Tard said it plans to fund the deal with available cash along with existing credit facilities and new debt. In January 2021, Couche-Tard's $20 billion approach for Carrefour, Europe's largest food retailer, was rejected by the French government on food security concerns.

[1/11] Protesters take part in a demonstration against the French government's pension reform plan, as part of the eighth day of national strike and protests, in Ancenis-Saint-Gereon, France, March 15, 2023. The pension bill passed to a joint parliamentary committee on Wednesday where lawmakers from the lower and upper chambers are seeking a compromise text. If a deal is reached, a final vote in both the Senate and National Assembly will be held on Thursday. This new day of protests "is meant to tell lawmakers: don't vote this reform," he said. "In the National Assembly, there will not be an easy vote, nor will there be panic," government spokesman Olivier Veran told Europe 1 radio station.

☆ Macron backs enshrining right to abortion in French constitution
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

PARIS, March 8 (Reuters) - French President Emmanuel Macron said on Wednesday he backed including the right to abortion in the constitution, a move he said would send a signal of solidarity to women around the world. She was a staunch defender of the right to abortion. The move comes after the U.S. Supreme Court last June overturned the landmark 1973 Roe v. Wade ruling that recognised women's constitutional right to abortion. Both houses of the French parliament have already voted in favour of enshrining the right in the constitution, although the Senate termed it a "freedom" and the National Assembly a "right" to abortion. Macron said a bill would be submitted to parliament to change the constitution in the coming months.

☆ French government says has deal on anti-inflation shopping basket
▼ + stars: | 2023-03-06 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

The discounts are expected to cost retailers "hundreds of millions of euros", Le Maire said. From June, retailers and government officials will reassess the situation and may ask large consumer goods suppliers to re-negotiate prices with retailers, he added. French annual inflation rose unexpectedly to 7.2% in February from 7.0% in January, partly as a result of higher food prices, preliminary figures from the INSEE statistics body found. INSEE has forecast that food price inflation would remain at 13% for the first half of the year. The basket of anti-inflation groceries is the government's latest effort to show political support to lower-income citizens.

☆ Atos in talks with Kretinsky over sale of Tech Foundations business-Le Monde
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +1 min

PARIS, March 1 (Reuters) - French technology consultancy Atos (ATOS.PA) is in talks with Czech businessman Daniel Kretinsky about the possible sale of its Tech Foundations business, Le Monde reported on Wednesday. According to our information, the management is also talking with Daniel Kretinsky ... who for his part is interested in the group's historic business of IT services Tech Foundations," the French newspaper said. Kretinsky holds a minority stake in Le Monde. Spokespeople for Kretinsky and Atos declined to comment. In October, Atos said it had been approached by several players interested in buying Tech Foundations, which groups activities the company defines as approaching maturity, such as data centres and business process outsourcing.

☆ French federation president Le Graet resigns - source
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: 1 min

PARIS, Feb 28 (Reuters) - Noel Le Graet, the embattled president of France's soccer federation, has resigned, a source with direct knowledge of the matter told Reuters on Tuesday. Le Graet, head of the FFF since 2011, had taken a step back amid a legal investigation into alleged sexual and moral harassment and a damning audit commissioned by the sports ministry. Earlier this month, the audit concluded that the 81-year-old Le Graet no longer had "the necessary legitimacy" to administer and represent the sport in France and "highlighted the inappropriate behaviour of Mr Le Graet towards women". Le Graet has denied any wrongdoing. Reporting by Julien Pretot, writing by Dominique Vidalon, editing by Ingrid Melander and Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

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