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☆ What’s in Our Queue? Wong Kar-wai and More
▼ + stars: | 2023-03-23 | by ( Genevieve Ko | ) www.nytimes.com time to read: 1 min

What’s in Our Queue? Wong Kar-wai and MoreI’m a deputy editor and columnist for Food and Cooking. Now that my kids are older — and have great taste in books, music and film — I enjoy their recommendations and look for what I know they’ll like too. Here are five things I’ve been enjoying →

The president, the government and the majority," a senior MP in Macron's camp, Gilles Le Gendre, told Liberation newspaper. Another MP in Macron's camp, Patrick Vignal, bluntly urged the president to suspend the pension reform bill, which will raise the retirement age by two years to 64, given the anger it has triggered, and its deep unpopularity. REUTERS/Gonzalo Fuentes 1 2 3 4 5While Borne said the administration would try in future to better involve citizens and unions in lawmaking, she gave no specifics, and both said they had devoted as much time to dialogue on the pension bill as possible. Other opposition MPs urged Macron to fire Borne, call snap elections and hold a referendum on the pension bill because of the widespread anger. Polls show a wide majority of French are opposed to the pension reform, as well as the government's decision to push the bill through parliament without a vote.

BRUSSELS, March 21 (Reuters) - EU antitrust regulators have raided a company active in the energy drinks sector in several EU countries on suspicion of taking part in a cartel and also abusing its dominance, the European Commission said on Tuesday. Austrian energy drinks maker Red Bull confirmed that its premises had been searched, the Austrian news agency APA reported, although the company declined further comment when contacted by Reuters. "The Commission has concerns that the inspected company may have violated EU antitrust rules that prohibit cartels and restrictive business practices," the EU enforcer said in a statement. "The inspected company may also have violated EU antitrust rules that prohibit abuses of a dominant position." Companies found breaching EU antitrust rules face fines of as much as 10% of their global turnover.

☆ French insurer AXA has about $640 mln exposure to Credit Suisse
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: 1 min

PARIS, March 20 (Reuters) - French insurer AXA (AXAF.PA) had a "limited exposure" of about 0.6 billion euros ($639.5 million) to Swiss bank Credit Suisse (CSGN.S), it said on Monday. "AXA has no exposure to Credit Suisse AT1s or to Credit Suisse equity. The group has limited exposure to Credit Suisse of circa 0.6 billion euros, comprising covered bonds and senior bonds. AXA has less than 20 million euro exposure to bank AT1s," the insurer said in an emailed statement. ($1 = 0.9383 euros)Reporting by Sudip Kar-Gupta Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ France on ICC arrest warrant for Putin: No-one should escape justice
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: 1 min

PARIS, March 17 (Reuters) - The French government said on Friday that "no-one should escape justice", as it reacted to the International Criminal Court's (ICC) decision to issue an arrest warrant for Russia President Vladimir Putin. "No-one responsable for crimes committed by Russia in Ukraine, regardless of their status, should escape justice," said the French Foreign Affairs Ministry on its FranceDiplomatie Twitter account. Reporting by Sudip Kar-Gupta; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ French minister to raise protection of minors with Pornhub's new owners
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

PARIS, March 17 (Reuters) - A French government minister will meet the new owners of the pornography website Pornhub to ensure minors are protected and that the site does not break any laws, he said on his Twitter account on Friday. Earlier this week, Canadian private equity firm Ethical Capital Partners said it had bought MindGeek, which has faced complaints over Pornhub's content. MindGeek said it would work with Ethical Capital Partners (ECP) on matters of trust and safety with regulators. "We have spoken with the partners at ECP. Reporting by Sudip Kar-Gupta and Eva Mathews; Editing by Barbara Lewis and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ French insurer AXA outlines bond exposure to SVB and US regional banks
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: 1 min

PARIS, March 16 (Reuters) - French insurer AXA (AXAF.PA) has a relatively small corporate bond exposure to Silicon Valley Bank (SIVB.O), group Deputy CEO Frederic de Courtois told a Morgan Stanley investor conference this week. "On direct impact, we have 66 million corporate bond exposure to SVB. On regional banks of the size and the type of SVB, the lightly regulated regional banks, we have about 300 million exposure on corporate bonds," he said. The details of his March 15 presentation at the conference were made available on AXA's website. Courtois did not specify to which currency he was referring, in his comments on AXA's exposure.

☆ Cybercriminals' crypto platform ChipMixer taken down, says Europol
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, March 15 (Reuters) - Police and justice departments from around the world have taken down the cryptocurrency platform known as ChipMixer, which had been used by cybercriminals, Europe's Europol police agency said on Wednesday. Europol said it had supported German, U.S., Belgian, Polish and Swiss authorities in the dismantling of ChipMixer's infrastructure, which also resulted in as much as 40 million euros ($42.2 million) being seized. ChipMixer, an unlicensed cryptocurrency mixer set up in mid-2017, specialised in mixing or cutting trails related to virtual currency assets. The ChipMixer software hid the blockchain trail of the funds, making it attractive for cybercriminals looking to launder illegal proceeds from drug trafficking, weapons trafficking, ransomware attacks and payment card fraud, Europol said. ($1 = 0.9488 euros)Reporting by Sudip Kar-Gupta; Editing by Mark PortgerOur Standards: The Thomson Reuters Trust Principles.

☆ French retailer Casino selling down stake in Brazil's Assai
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

Casino said it would be selling 12.9% of Assai's share capital, representing 174 million shares. The French company said the sale formed part of its previously announced plans to sell assets. Casino said the sale amount could be increased by up to 80 million common shares, representing an extra 5.9% of Assai's share capital. Casino owns a 30.5% stake in Assai, according to the Brazilian firm's website. Casino is also in exclusive talks to combine its French retail business with smaller food retailer Teract (TRACT.PA).

☆ Morgan Stanley, others now forecast 4% peak for key ECB rate
▼ + stars: | 2023-03-03 | by ( Sudip Kar-Gupta | ) www.reuters.com time to read: +1 min

March 3 (Reuters) - Morgan Stanley and two other investment banks have revised their forecasts for the European Central Bank's terminal rate - the level at which its key interest rate will peak - to 4% as inflationary pressures weigh. BNP Paribas and Barclays joined Morgan Stanley in the upward revisions. Morgan Stanley and BNP Paribas had previously seen the terminal rate at 3.25%. Barclays said in a note to clients that it expects 50 basis point rate increases in March and May, and 25 basis point rises in June and July. JP Morgan this week raised its forecast for the terminal rate to 3.75% from 3.50%.

☆ Morgan Stanley forecasts key ECB rate to peak at 4%
▼ + stars: | 2023-03-03 | by ( Sudip Kar-Gupta | ) www.reuters.com time to read: +1 min

PARIS, March 3 (Reuters) - Wall Street bank Morgan Stanley on Friday raised its forecast for the European Central Bank's (ECB) so-called terminal rate - the level to which it believes the ECB's key interest rate will rise - to 4% as inflationary pressures weigh on the euro zone. "Following material revisions to our inflation forecast, we now expect the ECB's terminal rate at 4%," the bank wrote in a research note. The move by Morgan Stanley, which had previously seen the ECB terminal rate at 3.25%, follows similar revisions by other leading investment banks, driven by inflationary pressures within the euro zone. JP Morgan this week raised its forecast on the ECB's 'terminal' rate to 3.75% from 3.50% previously. On Friday, ECB governing council member and Belgian national bank governor Pierre Wunsch said the ECB could consider raising its key interest rate to as high as 4% if underlying inflation in the euro zone remains persistently high.

☆ AB InBev upbeat on 'resilient' beer, China recovery
▼ + stars: | 2023-03-02 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

AB InBev's sales and earnings declined in China due to a strict zero COVID policy that was suddenly dropped in December. In the United States, AB InBev's largest market, profit and revenue increased, largely because of price increases, although those same increases, along with harsh winter weather in December, cut into beer sales in volume terms. REUTERS/Toby Melville 1 2Brewers have raised beer prices in response to higher energy and raw materials costs, and both Heineken (HEIN.AS) and Carlsberg (CARLb.CO) have warned of reduced beer consumption in Europe because of the increases. For the whole year, core profit growth was 7.2%. AB InBev also increased its full-year dividend to a proposed 0.75 euros from 0.50 euros in each of the past two years.

☆ AB InBev beats profit expectations despite selling less beer
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, March 2 (Reuters) - Anheuser-Busch InBev (ABI.BR), the world's largest brewer, expanded its profit by slightly more than expected in the fourth-quarter despite selling less beer, notably in North America and Asia. However, it more than compensated for the decline with higher prices. The company's core profit - earnings before interest, tax, depreciation and amortisation - rose 7.6% on a like-for-like basis to $4.95 billion, above the 7.1% gain expected by analysts in a company-compiled poll. The Belgium-based company said that core profit would grow in 2023 in line with its medium-term outlook range of 4% to 8%, with revenue expanding at a higher rate than profit. Reporting by Philip Blenkinsop; Editing by Sudip Kar-Gupta and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Regulators extend shelf life of Valneva's COVID vaccine candidate
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: 1 min

Companies Valneva SE FollowPARIS, March 2 (Reuters) - Vaccines company Valneva (VLS.PA) said on Thursday that its inactivated COVID-19 vaccine candidate product VLA2001 had its shelf life extended to 21 months from 18 months previously, as it unveiled regulatory updates for the product. "As previously announced, Valneva will not invest in further development of the vaccine, in the absence of a new partnership. It is, however, completing remaining clinical studies and submissions as agreed with regulators," added Valneva. Reporting by Sudip Kar-Gupta; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ TotalEnergies buys CEPSA’s upstream assets in Abu Dhabi
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of French oil and gas company TotalEnergies is seen on an oil tank at TotalEnergies fuel depot in Mardyck near Dunkirk, France, January 16, 2023. REUTERS/Benoit TessierPARIS, March 1 (Reuters) - French oil company TotalEnergies (TTEF.PA) said on Wednesday it had agreed to buy the upstream assets in the United Arab Emirates of Spanish energy company Cepsa (CPF.GQ). The deal covers the purchase of a 20% stake in the Satah Al Razboot (SARB), Umm Lulu, Bin Nasher and Al Bateel (SARB and Umm Lulu) offshore concession, which includes two major offshore fields, the statement said. It also covers the purchase of a 12.88% indirect interest in the Mubarraz concession held by Abu Dhabi Oil Company Ltd (ADOC), which comprises four producing offshore fields. ($1 = 0.9374 euros)Reporting by Sudip Kar-Gupta and Jesus Aguado, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

BRUSSELS, Feb 28 (Reuters) - EU antitrust regulators on Tuesday narrowed their case against Apple (AAPL.O), saying its App Store rules that prevent developers from informing users of other purchasing options violate the bloc's rules against unfair trading conditions. The European Commission, which acts as the executive for the 27-country European Union, dropped an earlier charge that targeted Apple's rules which require developers to use its own in-app payment system. Apple said it was pleased the Commission had narrowed the case and it would respond to the regulator's concerns. The case was triggered by Spotify (SPOT.N), which complained Apple unfairly restricted rivals to its own music streaming service Apple Music on iPhones. That prompted the Commission to open a case and issue a charge sheet against Apple in April 2021 over its anti-steering mechanism and in-app payment system.

☆ Unexpected inflation jump adds to ECB headache
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

Germany's 10-year bond yield, the benchmark for the euro zone, jumped to its highest level since 2011 at 2.66% as traders ramped up bets that ECB rates will peak around 4% at year-end. Expectations for the peak in ECB rates have risen by over 40 basis points this month on fears that inflation will be more persistent than expected, particularly for core goods that exclude volatile fuel and food prices. Some investors even think there is a risk of the ECB raising rates by more than 50 basis points in March, despite its explicit guidance for the move. "The February data shows that French inflation has not reached its peak yet," ING economist Charlotte de Montpellier said. In Spain, core inflation also accelerated, adding to the ECB's worries that price growth is becoming persistent.

☆ Insurer AXA sells off most of its shares in Monte dei Paschi at 2.33 euros/share
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: 1 min

PARIS, Feb 28 (Reuters) - French insurer AXA (AXAF.PA) said on Tuesday that it had successfully sold off most of its shares in Italian bank Banca Monte dei Paschi di Siena (BMPS.MI), divesting the stocks at a price of 2.33 euros per share. Following this sale, AXA will hold 0.0007% of the Italian bank's share capital. Reporting by Sudip Kar-Gupta Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Euronext pulls $5.8 billion offer to buy Allfunds
▼ + stars: | 2023-02-28 | by ( Mathieu Rosemain | ) www.reuters.com time to read: +3 min

SummarySummary Companies Euronext withdraws cash and shares bidDue to insufficient synergies, share price decline - sourceEuronext shares jump, but Allfunds shares slumpPARIS, March 1 (Reuters) - Euronext (ENX.PA) has withdrawn its 5.5 billion euro ($5.8 billion) indicative offer to buy fund distribution firm Allfunds (ALLFG.AS), boosting the exchange operator's shares while sending Allfunds' lower. Allfunds subsequently entered into discussions on terms with Euronext but no agreement was reached and discussions have been terminated," Allfunds said on Wednesday, after Euronext withdrew its offer. Allfunds' shares slumped around 13% to 7.21 euros in early trading, while Euronext shares rose around 5%. "Allfunds shares were trading around 7.20 euros before news of Euronext's unsolicited indicative offer became public. But Euronext shares did not respond well, falling by around 10% over the last week.

☆ New French fund with 87.5 mln euros targets African solar development
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +2 min

PARIS, Feb 24 (Reuters) - A new investment fund with 87.5 million euros ($92.63 million) will finance solar power production across Africa, with a focus on West and Central Africa, French fund manager RGREEN INVEST and investment adviser ECHOSYS INVEST said on Friday. The AFRIGREEEN Debt Impact Fund's first closing will finance on- and off-grid solar power plants for small- and medium-sized commercial and industrial consumers across the continent, the statement said. The groups are looking to have a portfolio of twenty to thirty investments, with aim of meeting long-term debt financing needs of between 10 and 15 million euros, with an average of around 5 million euros over eight to ten years, the statement said. RGREEN INVEST and ECHOSYS INVEST said that the first closing included commitments from the European Investment Bank (EIB) and the International Finance Corporation (IFC). The group is aiming to raise a total of 100 million euros from development finance institutions and private investors.

☆ Financial crime watchdog FATF suspends Russia's membership over Ukraine war
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

PARIS, Feb 24 (Reuters) - Global financial crime watchdog Financial Action Task Force (FATF) on Friday suspended Russia's membership, saying Moscow's war in Ukraine violated the organisation's principles. "The Russian Federation's actions unacceptably run counter to the FATF core principles aiming to promote security, safety, and the integrity of the global financial system", the Paris-based group said in a statement. "The Russian Federation remains accountable for its obligation to implement the FATF Standards. The Russian Federation must continue to meet its financial obligations," the FATF said. The FATF is an inter-governmental organisation that underpins the fight against money laundering and terrorism financing by setting global standards and checking if countries respect them.

☆ Danone eyes better margins in 2023, Q4 sales top estimates
▼ + stars: | 2023-02-22 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

PARIS, Feb 22 (Reuters) - Danone (DANO.PA) like-for-like quarterly sales growth topped estimates on Wednesday on the back of higher prices amid soaring raw materials and energy costs which still weighed down its full-year operating margin. The world's largest yoghurt maker's 2023 forecast was in line with its mid-term like-for-like sales growth target of 3% to 5%, with a moderate improvement in recurring operating margin. The owner of Activia yoghurt and Evian bottled water reported like-for-like sales growth of 7.8% for 2022, near the top end of its 7% to 8% sales growth forecast. Danone reported fourth-quarter sales growth of 7%, beating market expectations of 6.2%, helped by growth across Essential Dairy and Plant-based, Specialised Nutrition and Waters segments. "Building on 2022 momentum, we are entering 2023 with renewed ambition and confidence in our strategy," CEO Antoine de Saint-Affrique said in a statement.

☆ Schoolteacher stabbed to death by pupil in southwest France
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: 1 min

PARIS, Feb 22 (Reuters) - A teacher was stabbed to death by a 16-year-old pupil on Wednesday at a Roman Catholic high school in the town of Saint-Jean-de-Luz in southwestern France, local officials said. Pupils fled in panic after the stabbing, local newspaper Sud Ouest said. The Spanish-language teacher, a woman, was 50 years old, Sud Ouest said. Police arrested the pupil, who told another teacher he was possessed and heard voices that instructed him to attack the teacher, according to local media including BFM TV. Reporting by Layli Foroudi; writing by Sudip Kar-Gupta and Ingrid Melander; editing by Frank Jack Daniel and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

☆ EU to include Iranian judges on sanctions list, Luxembourg's Asselborn says
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, Feb 20 (Reuters) - The European Union will impose sanctions against dozens of Iranians, including judges, for their role in imposing death penalties on protesters, Luxembourg's Foreign Minister Jean Asselborn said on Monday. "Judges, prison workers, people who sentence others to death, dozens of them will get on the list," Asselborn said before a meeting with other foreign ministers from the EU in Brussels. Reporting by Bart Meijer; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Burkina Faso marks official end of French military operations on its soil
▼ + stars: | 2023-02-19 | by ( Thiam Ndiaga | ) www.reuters.com time to read: +3 min

[1/2] Head of Burkina Faso's army Colonel Adam Nere receives a flag from French Lieutenant-Colonel Louis Lecacheur during a military handover ceremony to officially mark the end of French military operations on Burkinabe soil, at the base of Kamboincin, Burkina Faso February 18, 2023. Burkina Faso's General Staff of the Armed Forces/Handout via REUTERSOUAGADOUGOU, Feb 19 (Reuters) - France and Burkina Faso have officially marked the end of French military operations in the West African nation, the Burkinabe armed forces said on Sunday, after a flag-lowering ceremony at the French special forces' camp a day earlier. In a statement, the General Staff of the Burkinabe Armed Forces said it had participated with the leadership of France's Sabre special forces in "a solemn flag-lowering ceremony marking the official end of the Task Force's operations on Burkinabe soil". The French armed forces ministry did not respond to a request for comment. The departure of the some 400 French special forces from Burkina Faso follows a sharp deterioration in relations that included Ouagadougou asking France to recall its ambassador.

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