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☆ French Minister Dussopt says 'not exhausted, nor weakened' by favoritism charge
▼ + stars: | 2023-06-03 | by ( ) www.reuters.com time to read: +1 min

PARIS, June 3 (Reuters) - French Employment Minister Olivier Dussopt said on Saturday he was innocent following a charge of favouritism in the award of a water contract in 2009 and would defend himself against the charge, adding he was "not exhausted, nor weakened". "I expect to convince the court of my good faith and my innocence," Dussopt, who played a key role in President Emmanuel Macron's decision to push through unpopular pension reforms, told France Inter Radio. Dussopt will face a court hearing in November over the allegation, France's financial prosecutor said on Friday. An official at Prime Minister Elisabeth Borne's office said on Friday Dussopt continued to have her backing. The allegation of favouritism relates to before Dussopt took up his current ministerial role and when he was a local mayor.

Persons: Olivier Dussopt, Dussopt, Emmanuel Macron's, Elisabeth Borne's, favouritism, Mimosa Spencer, David Holmes Organizations: French, France Inter Radio, Thomson

☆ Brazil's president Lula to come to Paris on June 22-23-Macron's office
▼ + stars: | 2023-06-03 | by ( ) www.reuters.com time to read: 1 min

PARIS, June 3 (Reuters) - Brazilian President Luiz Inacio Lula da Silva will visit Paris on June 22 and 23, the office of French President Emmanuel Macron said on Saturday. The leaders will meet as part of the "Summit for a New Global Financial Pact", which will tackle reform of multilateral development banks (MDB), the debt crisis, financing for green technologies, the creation of new international taxes and financing instruments, and special drawing rights. Reporting by Mimosa Spencer; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Emmanuel Macron, Mimosa Spencer, Toby Chopra Organizations: Paris, New Global, Thomson

☆ Jeddah, sleep and a French plane: How Zelenskiy got to Japan
▼ + stars: | 2023-05-20 | by ( John Irish | ) www.reuters.com time to read: +3 min

"The Ukrainians asked that President Zelenskiy be transported by the French army," a French presidential official said, adding that the decision had been made on Wednesday. "It was an opportunity for him to explain his position with countries he doesn't usually talk to," a second French official said. Speaking ahead of a bilateral meeting with Macron in Hiroshima, Zelenskiy thanked France and said he had received "positive signals" from Arab states without elaborating. A French government Falcon jet had taken Zelenskiy from Brussels to Poland in February after a European heads of state summit, the French officials said. "A plane in the colours of the French Republic has arrived in Hiroshima," Macron tweeted after meeting Zelenskiy.

☆ Jeddah, sleep, and a French plane, how Zelenskiy reached Japan's G7
▼ + stars: | 2023-05-20 | by ( John Irish | ) www.reuters.com time to read: +3 min

"The Ukrainians asked that President Zelenskiy be transported by the French army," a French presidential official said, adding that the decision had been made on Wednesday. "It was an opportunity for him to explain his position with countries he doesn't usually talk to," a second French official said. Speaking ahead of a bilateral meeting with Macron in Hiroshima, Zelenskiy thanked France and said he had received "positive signals" from Arab states without elaborating. The aim, French officials said, was to sway their stances. A French government Falcon jet had taken Zelenskiy from Brussels to Poland in February after a European heads of state summit, the French officials said.

☆ Pension reform defiance brings new blood to French trade unions
▼ + stars: | 2023-05-18 | by ( Leigh Thomas | ) www.reuters.com time to read: +5 min

Interest is growing among younger and private sector workers, where unions tend to be less well represented. Vacheron said that more than 30% of the CGT's recent joiners were under the age of 35 while 70% were coming from the private sector, which traditionally is dominated by the CFDT. "Since the retirement reform is contested by the young and old, public and private sector workers, they see a utility in belonging to unions, unions are attractive," Vacheron said. "Unions are rebuilding themselves from the ground up through recruitment and not only street protests," sociologist Michel Wieviorka said. Labour relations consultant Stephanie Matteudi-Lecocq said that the momentum coming from pension reform pushback could ultimately put unions back on more solid footing in companies.

☆ In Taiwan, former UK PM Truss warns against appeasing China
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, May 17 (Reuters) - Former British prime minister Liz Truss will say in Taiwan on Wednesday that the West must avoid appeasing China and show unwavering support for the self-governed island, in a speech that risks further damaging Britain's relations with Beijing. Truss is the most well-known British politician to visit Taiwan since former prime minister Margaret Thatcher in the 1990s, and her trip comes at a time when relations between Britain and China are the worst in decades. China claims Taiwan as its own and has not renounced the use of force to ensure eventual unification. Beijing has previously condemned visits by British lawmakers to Taiwan for what it calls interference in China's internal affairs. "There are still too many in the West who are trying to cling on to the idea that we can cooperate with China on issues like climate change," Truss will say.

REYKJAVIK, May 16 (Reuters) - European leaders will travel to Iceland on Tuesday for a two-day summit meant to show their support for Ukraine but also send a powerful message on core democratic values many feel are under threat in and outside Europe. The CoE's democratic values are upheld by the Strasbourg-based European Court of Human Rights, where citizens can take governments to court in case of human rights violations. Even Russia didn't want to leave the Council of Europe, Turkey doesn't want to leave either." European leaders such as Germany's Olaf Scholz, Britain's Rishi Sunak and French President Emmanuel Macron will attend the summit in Reykjavik, while Ukraine's Volodymyr Zelenskiy will address his counterparts via videolink. Macron's office said the Council is looking at how its little-known bank, the Council of Europe Development Bank (CEB), could help meet the needs of struggling Ukrainians.

[1/4] Twitter, X Corp., and Tesla CEO Elon Musk poses with French President Emmanuel Macron prior to their talks, Monday, May 15, 2023 at the Elysee Palace in Paris, France. Some 200 business leaders attending the event in Versailles close to Paris have so far made commitments to invest a combined 13 billion euros ($14 billion), the most since Macron first held the summit in 2018, his office said. Musk, who also lunched with Finance Minister Bruno Le Maire, said he was confident Tesla would make "significant investments" in France in the future, without giving a timetable. "No announcement today but I am very impressed with President Macron and the French government and how welcoming they are," he told reporters. Morgan Stanley plans to increase headcount in France by 200 by 2025, bringing total staff in the country to 500.

☆ Cannes Film Festival 2023 kicks off with 'all killer, no filler' line-up
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +4 min

"We have 'Indiana Jones,' we've got Martin Scorsese's new film with Leonardo DiCaprio. Festival director Thierry Fremaux pushed back against criticism that Depp was a controversial choice for an opening-night film, telling Variety magazine the actor had not been banned from working. Other jury members include Brie Larson of "Captain Marvel" and Julia Ducournau, one of two women to win the Palme d'Or. Out of competition, Harrison Ford will return as adventurous archaeologist Indiana Jones, 15 years since the last film in the franchise, in the world premiere of "Indiana Jones and the Dial of Destiny" on Thursday. Festival organizers are concerned the unrest seen during the pension reform protests could also make its way to the festival, said Roxborough.

PARIS, May 14 (Reuters) - France is poised to win record foreign investment pledges when President Emmanuel Macron receives global business leaders, including Tesla's Elon Musk, on Monday at the annual Choose France summit in Versailles. Executives attending the event in Versailles close to Paris have so far made commitments to invest a combined 13 billion euros ($14 billion), the most since Macron first held the summit in 2018. Billionaire entrepreneur Elon Musk, the CEO of Tesla (TSLA.O), met Macron at his official residence the Elysee Palace. France previously tried to convince Musk to build a European gigafactory in the country, but he chose Germany, his only European gigafactory so far. PALATIAL BACKDROPOver the last five years, Macron has invited top CEOs to the opulent Versailles Palace to try to secure billions in foreign investments.

☆ Elon Musk to meet Macron, other leaders at France conference
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

PARIS, May 15 (Reuters) - Billionaire entrepreneur Elon Musk will meet French President Emmanuel Macron and other political leaders on Monday at a business conference close to Paris, the Elysee Palace said, confirming earlier media reports. Musk, the CEO of Tesla (TSLA.O) who bought social network Twitter in a $44 billion deal last year, will meet Macron at the palace before attending lunch with Finance Minister Bruno Le Maire, the finance ministry told Reuters. Musk will also visit the sixth edition of the annual "Choose France" summit in Versailles, aimed at boosting international investment in France. Le Maire told BFM TV that the talks between the government and Musk would cover several topics, including electric cars. Asked by BFM TV if any announcement was likely, Le Maire said "all investments that are being made today are the result of months or even years of negotiations."

☆ Macron eyes record 13 bln euros in investments at Versailles summit
▼ + stars: | 2023-05-14 | by ( ) www.reuters.com time to read: +2 min

PARIS, May 14 (Reuters) - France is set to win record foreign investment pledges when President Emmanuel Macron rolls out the red carpet for global CEOs on Monday at the annual 'Choose France' summit in Versailles, his office said on Sunday. Executives attending the event have made commitments to invest a combined 13 billion euros ($14 billion), the most since Macron started hosting the summit in 2018 in the former royal palace outside Paris. Over the past five years, Macron has invited top CEOs to the glamorous setting of Versailles Palace in hope of securing billions in foreign investments he says justifies his pro-business reform drive. Ikea has plans to invest 906 million euros by 2026 while Pfizer aims has budgeted 500 million euros to expand in France over the same period followed by British rival GSK with 400 million euros, Macron's office said. ($1 = 0.9084 euros)Reporting by Leigh Thomas Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ Air France-KLM posts Q1 revenue beat driven by strong summer bookings
▼ + stars: | 2023-05-05 | by ( Federica Mileo | ) www.reuters.com time to read: +2 min

[1/3] Logo of Air France KLM Group is pictured on the first Air France airliner's Airbus A350 during a ceremony at the aircraft builder's headquarters of Airbus in Colomiers near Toulouse, France, September 27, 2019. REUTERS/Regis DuvignauMay 5 (Reuters) - Air France-KLM (AIRF.PA) on Friday reported better-than-expected first-quarter revenue and robust cash flow as it benefited from a global recovery in air travel and strong summer ticket sales. The carrier's revenue grew 42% year-on-year to 6.33 billion euros ($6.97 billion), just above the 6.30 billion euros expected on average by analysts polled by the company. Air France-KLM said it did not see an impact from the cost- of-living crisis, pointing to more than 1.5 billion euros in ticket sales over the first quarter and to a strong demand across its network. Air France-KLM said the impact from French air-control strikes had been limited and was in the millions of euros, which it quantified as smaller than the impact from previous strikes.

☆ 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.

☆ France's Constitutional Council rejects bid for pension referendum
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows French national flags on the Constitutional Council (Conseil Constitutionnel) before its decision on a request to hold a citizens' referendum (RIP - Referendum d'initiative partagee) about the future of France's pension system, in Paris, France, May 3, 2023. REUTERS/Christian HartmannPARIS, May 3 (Reuters) - French President Emmanuel Macron's deeply unpopular pension law passed another hurdle on Wednesday when the Constitutional Council rejected a second bid by political opponents to hold a referendum on capping the retirement age at 62. Since Macron bypassed parliament, opposition lawmakers have turned to the Constitutional Council twice in an attempt to derail the reform, seeking its approval on each occasion for a referendum on the retirement age. But the pension system is a cornerstone of France's cherished social protection model and labour unions say the money can be found elsewhere, including by taxing the rich more heavily. Nonetheless, French pension payments as a share of pre-retirement earnings are substantially higher than elsewhere, OECD figures show.

☆ Paris police battle anarchists at Labor Day rally
▼ + stars: | 2023-05-01 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsParis police battle anarchists at Labor Day rallyPostedFrench police clashed with black-clad anarchists in Paris and other big cities during trade union-organized protests against President Emmanuel Macron's increase in the retirement age. Workers joined Labor Day rallies across Europe, also called May Day.

[1/5] People attend the traditional May Day labour march, a day of mobilisation against the French pension reform law and for social justice, in Nantes, France May 1, 2023. "It will serve to say that we will not move on until this (pension) reform is withdrawn." Macron says the reform is needed to keep one of the industrialised world's most generous pension systems in the black. French pension payments as a share of pre-retirement earnings are comfortably higher than elsewhere and a French man typically spends longer in retirement than those in other OECD nations. But the trade unions say the money can be found elsewhere.

[1/9] A demonstrator throws a tear gas during the traditional May Day labour march, a day of mobilisation against the French pension reform law and for social justice, in Nantes, France May 1, 2023. Sophie Binet, leader of the hardleft CGT union, said the pension reform had left Macron isolated. Macron says the French reform is needed to keep one of the industrialised world's most generous pension systems in the black. French pension payments as a share of pre-retirement earnings are comfortably higher than elsewhere and a French man typically spends longer in retirement than those in other OECD nations. Trade unions say the money can be found elsewhere.

☆ Euro zone economy ekes out 0.1% growth in first quarter, misses expectations as Germany stagnates
▼ + stars: | 2023-04-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

The print came in below analyst expectations, with a Reuters poll of economists previously forecasting quarterly growth of 0.2%. The economy expanded by 1.3% on an annual basis, just missing an outlook of 1.4%. Earlier this month, statistics agency Eurostat had revised down its fourth-quarter 2022 gross domestic product estimate for the euro zone from 0.1% quarterly growth to zero, following 0.4% expansion in the third quarter. The slight first-quarter growth signal comes as economic performance contends with persistently high inflation. Irish GDP was a notable weak spot, declining by 2.7% on the previous quarter, while Portugal's economy grew by 1.6%.

Persons: Arne Dedert, Carsten Brzeski, Destatis, Emmanuel Macron's Organizations: Getty, Eurostat, ING, European Central Bank, Deutsche Bank, ECB Locations: Frankfurt, Ukraine, Germany, Europe

[1/2] FILE PHOTO-French President Emmanuel Macron delivers his speech during the National Conference on Disability at the Elysee Palace in Paris, France, April 26, 2023. "You talk a lot of nonsense everyday," the man told Macron, after the president, barely able to squeeze in an answer, said he should get his numbers right. Such direct confrontations, the president reckons, are essential to give people a cathartic release after weeks of anger directed at the government's pension bill and Macron himself. Before the pension reform protests, the government managed to pass legislation on issues such as nuclear energy and renewables with the help of both left-wing and right-wing lawmakers outside Macron's centrist alliance. That was apparent again this week, when his prime minister Elisabeth Borne was forced to give up on an immigration bill.

☆ 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.

☆ Macron, Biden talk, but statements differ on Taiwan
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

PARIS, April 20 (Reuters) - French President Emmanuel Macron spoke with his U.S. counterpart Joe Biden on Thursday, but statements the two leaders released differed over Taiwan just 10 days after Macron had drawn criticism with allies over the issue. A readout from the French presidency made no direct mention of Taiwan, merely saying that both sides desired to "support international law, including freedom of navigation, throughout the Indo-Pacific region." The White House statement was in stark contrast, saying the two leaders "had reaffirmed the importance of maintaining peace and stability across the Taiwan Strait." The French presidency also said it had presented "results obtained" from the China trip to Biden, although it did not elaborate on what those results were. Contrary to the White House statement, the French presidency said China had a role to play in the medium term to ending the war in Ukraine.

☆ This France ETF is booming despite domestic turmoil. Thank the Chinese consumer
▼ + stars: | 2023-04-19 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

EWQ ALL mountain The iShares MSCI France ETF is trading at close to its all-time high. To be sure, the outsized rallies for luxury stocks — and new highs for the fund — could also be a sign that a reversal is near, at least in the short-term. However, Roth MKM chief market technician JC O'Hara said in a note to clients on Sunday that it appears that luxury stocks still have room to run. "We first highlighted the strength of the Luxury Goods market in early December. Since that time, the S & P Global Luxury Goods Index has risen +13%, versus the S & P 500, +1.8%.

☆ Explainer: Macron pension reform ends cherished French exception
▼ + stars: | 2023-04-18 | by ( Leigh Thomas | ) www.reuters.com time to read: +5 min

CAN THE FRENCH RETIRE EARLIER THAN OTHERS IN EUROPE? French pension payments as a share of pre-retirement earnings are comfortably higher than elsewhere. That is nearly double the OECD average of 7.7%, with only Italy and Greece spending more than France. In France the average effective age people leave the labour market is 60.4, well below the OECD average of 63.8. Macron's government says that raising the retirement age will plug a 13.5 billion euro shortfall the pension system would otherwise be running by 2030.

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