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☆ Carmaker Stellantis strikes nickel sulphate supply deal with Terrafame
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

PARIS, Jan 18 (Reuters) - Carmaker Stellantis (STLA.MI) and Finnish company Terrafame announced on Wednesday that they had struck a deal whereby Terrafame will supply Stellantis with nickel sulphate over a five-year period, starting from 2025 onwards. "This agreement is part of the key raw material sourcing to fit with our electrified vehicle battery pack needs,” Stellantis Chief Executive Carlos Tavares said in a statement. The carmaker said the agreement with Terrafame "willcover a significant portion of the needs for sustainable regionally sourced nickel." Last week, Stellantis struck a deal with Australian miner Element 25 (E25.AX) for the supply of manganese sulphite, the latest in a series of accords for the procurement of raw materials for electric batteries. Reporting by Sudip Kar-Gupta and Alvise Armellini, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ TotalEnergies to book $2.1 bln payout for UK, EU windfall taxes in Q4
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

PARIS, Jan 17 (Reuters) - French oil major TotalEnergies (TTEF.PA) said on Tuesday it would take a $2.1 billion hit in the fourth quarter from EU and British windfall taxes. That will cost TotalEnergies $1.1 billion for 2022 to be booked as a special item in the fourth quarter, the company said. A similar measure in Britain, where the government announced a 25% windfall tax on oil and gas, will cost it an additional $1 billion. The French group added that share buybacks had totalled $2 billion in the fourth quarter of 2022 and should continue at the same pace over the first quarter of 2023. Reporting by Silvia Aloisi; Editing by Sudip Kar-Gupta and Richard LoughOur Standards: The Thomson Reuters Trust Principles.

☆ French transport minister reassures over petrol supplies as strike looms
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

PARIS, Jan 17 (Reuters) - French Transport Minister Clement Beaune said on Tuesday there was sufficient supply of petrol in the country, as a national strike loomed this week. "As of today, there are stocks of petrol," Beaune told France 2 TV. In a rare act of unity, all unions have announced a nationwide day of strike action on Thursday and workers in key sectors such as energy, public transport, air travel and schools have said they would take part. Last week, France's CGT trade union called for strikes in the refinery sector against plans to make people work longer before they can retire and Paris metro unions said they would do "everything they can" to stop the pension reform. Reporting by Sudip Kar-Gupta; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Renault sales fall for 4th straight year
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

Its global market share was 4%, shrinking 0.5 percentage points from a year earlier. Out the 10 top markets, the Renault brand scored an increase in sales in only two - Turkey and Colombia. Sales fell 15% in its top market France, were stable in number 2 market Brazil and fell 25% in the third most important market, Germany. Including Russia, global sales declined by 15%. Fabrice Cambolive, Chief Operating Officer of the Renault brand, said he was optimistic things would improve this year as the company has a better portfolio and higher stocks.

☆ Lights maker Signify cuts its 2022 outlook again on lower consumer demand, China
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

Jan 12 (Reuters) - Signify (LIGHT.AS), the world's biggest maker of lights, on Thursday again cut its full-year profit margin and sales guidance, citing a steeper slowdown in China than expected and a lower demand from businesses. This compares with the previous full-year guidance of the lower end of the 11.0-11.4% range. "Signify experienced a stronger than anticipated deterioration of its business in China due to ongoing COVID-related disruptions, a much lower growth in the OEM channel and a weaker indoor professional business than expected," the company said in a statement. Comparable sales growth is now seen at 1.2% for 2022, versus a previous guidance of a 2-3% increase. Reporting by Benoit Van Overstraeten; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Man with knife wounds several at Paris' Gare du Nord station - France Bleu
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: 1 min

PARIS, Jan 11 (Reuters) - A man with a knife wounded several people at the Gare du Nord train station in Paris on Wednesday morning, France Bleu radio reported. The attacker was "neutralised" by police, interior minister Gerald Darmanin said on Twitter, without going into further detail. The attack happened around 0640 CET (0540 GMT) inside the train station, radio franceinfo said, quoting rail operator SNCF. The station is one of the busiest in Europe and a major link between Paris, London and the north of Europe. Reporting by Bertrand Boucey and Sudip Kar-Gupta; writing by Geert De Clercq; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ LVMH's Arnault tightens family grip as daughter becomes Dior CEO
▼ + stars: | 2023-01-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

The world's largest luxury group also replaced long-time Louis Vuitton CEO Michael Burke with Pietro Beccari, head of Dior since 2018. Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior. Burke will continue to work with Bernard Arnault, the company said in a statement. The move follows the recent appointment of Antoine Arnault, Bernard Arnault's eldest son, to head the family holding company, replacing veteran executive Sidney Toledano. Alexandre Arnault, 30, is an executive at Tiffany & Co. while Frederic Arnault, 28, is CEO of TAG Heuer - both LVMH brands.

☆ LVMH names new Louis Vuitton CEO, puts Arnault daughter in charge of Dior
▼ + stars: | 2023-01-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

Pietro Beccari, who has been the head of Dior since 2018, is moving to replace long-time Louis Vuitton CEO Michael Burke, 65. Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior. [1/2] Bernard Arnault, CEO of LVMH Moet Hennessy Louis Vuitton SE, and Delphine Arnault, Executive Vice President of Louis Vuitton, leave after the Spring/Summer 2020 collection show for fashion house Louis Vuitton during Men's Fashion Week in Paris, France, June 20, 2019. Alexandre Arnault, 30, is in charge of products and communication at Tiffany, while Frederic Arnault, 28, is CEO of another group brand, TAG Heuer. The youngest child, Jean Arnault, 24, heads marketing and product development for Louis Vuitton's watches division.

☆ TikTok CEO to meet EU antitrust chief Vestager on Tuesday
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, Jan 6 (Reuters) - TikTok Chief Executive Shou Zi Chew will meet the European Union's antitrust chief Margrethe Vestager in Brussels on Jan. 10, a calendar released by the European Commission showed on Friday. Chew will also meet Values and Transparency Commissioner Vera Jourova and European Commissioner for Home Affairs Ylva Johansson on the same day, the calendar showed. A spokesman for the European Commission said the meetings could be expected to cover issues such as the protection of personal data by online platforms such as TikTok and the implementation of the EU's Digital Services Act. He declined to comment on further specific details of the meetings or who requested them. Reporting by Sudip Kar-Gupta and Bart Meijer Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ China's COVID situation is worrying, says French health minister
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: 1 min

PARIS, Jan 5 (Reuters) - The situation regarding COVID infections in China is "worrying", the French health minister said on Thursday although he added that pressure on France's hospitals regarding COVID was easing. European Union member states on Wednesday agreed to introduce some safety measures with regard to travellers from China, as the bloc's crisis response group recommended that passengers flying to the EU should have a negative COVID-19 test before they board. "We're declining considerably, including with regard to people in hospital, but what's going on in China is worrying", France's Health Minister Francois Braun told France 2 television. Reporting by Tassilo Hummel; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ CARMAT says its Aeson artificial heart product will form part of French clinical study
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: 1 min

PARIS, Jan 4 (Reuters) - French healthcare and medical technology company CARMAT (ALCAR.PA) said on Wednesday that its Aeson artificial heart product would be implemented within the framework of a clinical study in France known as 'EFICAS'. "EFICAS is the largest study undertaken by CARMAT at this stage, and I am delighted that it will entirely take place in France, thus enabling our country's patients to benefit from our therapy. This is a crucial study, as it will eventually notably allow us to obtain Aeson’s reimbursement in France," said CARMAT chief executive Stéphane Piat in a statement. Reporting by Sudip Kar-Gupta; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ French inflation slows unexpectedly in December
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +2 min

The inflation rate fell to 6.7% in December, according to preliminary EU-harmonised data from the national statistics office INSEE. Energy prices increased 15.1% compared with 18.4% in November as wholesale gas prices fell across Europe in recent weeks amid record high temperatures. Finance Minister Bruno Le Maire told France Inter radio that inflation would see a downward trend over the course of 2023. In the short term, energy prices are likely to add to inflation pressures in January as regulated gas and power prices rose by 15% at the start of the year. "Nonetheless, the favourable moves in energy prices suggest there may be light at the end of the tunnel," said economist Sylvain Bersinger with consultancy Asteres.

The two companies are in arbitration to decide what Sanofi's obligations might be, given Sanofi acquired the marketing rights to Zantac from Boehringer in 2017. A decision was initially expected by the end of 2022. Now, Sanofi sees it some time this year, and at the end of the first quarter at the earliest. Originally marketed by a forerunner of GSK (GSK.L), the medicine has been sold at different times by companies including Pfizer (PFE.N), Boehringer and Sanofi as well as several generic drugmakers. On Wednesday, Sanofi also said it expected fourth-quarter results next month to benefit from a stronger dollar and flu vaccine sales.

☆ French PM: more confident about France's energy supplies for the coming weeks
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

PARIS, Jan 3 (Reuters) - French Prime Minister Elisabeth Borne said on Tuesday that she was more confident over the situation of French energy supplies for the next few weeks, citing lower consumption and an increase in nuclear output capacity. Borne confirmed plans to help French bakers cope with rising energy bills, allowing them to spread the payment of their taxes over time and possibly "the payment of their energy bills for the first months of the year". "I am more confident over the coming weeks," Borne told Franceinfo radio, when asked about energy supplies, adding that she had discussed the situation with energy company EDF (EDF.PA). Last week, the head of the country's CRE energy watchdog, Emmanuelle Wargon said there was no risk to power supplies until at least mid-January as French households and businesses had heeded calls to cut their energy consumption. French grid operator RTE said last week electricity consumption dropped by 8.7% over the past four weeks compared to an average of the same period in 2014-2019.

☆ French manufacturing contraction not as deep as forecast in Dec - final PMI
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +1 min

PARIS, Jan 2 (Reuters) - France's manufacturing sector contracted less than first thought in December, a survey showed on Monday, even though inflationary pressures continued to weigh on the euro zone's second-biggest economy. S&P Global's final December purchasing managers index (PMI) came in at 49.2 points, just below the 50 mark that denotes growth in activity. The final December reading was nevertheless above the December flash PMI figure of 48.9. It also marked a recovery from November's final reading of 48.3. "However, the strength of the downturn continued to ease, with output and new orders falling at their slowest rates since May and June respectively.

☆ Two people dead after Paris shooting - prosecutor
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: 1 min

PARIS, Dec 23 (Reuters) - Two people were killed and four others wounded after a shooting in Paris' 10th arrondissement, the city's prosecution office said on Friday, confirming media reports. A 69-year old man has been arrested in connection with the incident, added the prosecutor's office. Reporting by Tassilo Hummel and Juliette Jabkhiro; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Two dead, four wounded in Paris shooting, suspect in custody
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: 1 min

PARIS, Dec 23 (Reuters) - Two people were killed and four others wounded after a shooting in Paris' 10th arrondissement, the city's prosecution office said on Friday, confirming media reports. A 69-year old man has been arrested in connection with the incident, added the prosecutor's office. Reporting by Sudip Kar-Gupta; Editing by Richard Lough and Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Credit Agricole strikes bancassurance deal with Italy's Banco BPM
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

The deal allows the provision of non-life insurance products and related services through BBPM's networks for a 20-year period. It also stipulates that the French bank's Credit Agricole Assurances (CAA) division will buy from Banco BPM 65% of the share capital of both Vera Assicurazioni and Banco BPM Assicurazioni. "We are very pleased that our long-standing strategic partnership with Banco BPM will soon be strengthened," Credit Agricole CEO Philippe Brassac said in a statement. Credit Agricole has a 9.18% stake in Banco BPM, Italy's third-largest bank behind Intesa Sanpaolo (ISP.MI) and UniCredit (CRDI.MI). Three weeks ago, Banco BPM picked Credit Agricole over a rival bid from French insurer AXA (AXAF.PA) to start exclusive talks over a non-life insurance partnership.

PARIS, Dec 23 (Reuters) - A gunman killed three people at a Kurdish cultural centre and nearby Kurdish cafe in central Paris on Friday, prompting violent protests in nearby streets as night fell. President Emmanuel Macron said France's Kurdish community had been the target of a heinous attack. All three of those who died were Kurdish, a lawyer for the Kurdish cultural centre told Reuters. Julien Verplancke who works at another local restaurant, Chez Minna, said staff from the Kurdish restaurant emerged from the premise in tears after the shooting. Salih Azad, a prominent figure from the Kurdish community in Marseille, said he knew one of the victims, a 26-year-old woman who had lived in Paris for several years.

☆ French bank Credit Agricole strikes bancassurance deal with Italy's Banco BPM
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: 1 min

PARIS, Dec 23 (Reuters) - French bank Credit Agricole (CAGR.PA) said on Friday it had struck a long-term bancassurance partnership deal with Italy's Banco BPM (BBPM) (BAMI.MI) to provide non-life insurance products and related services through BBPM's networks. As part of the deal, the French bank's Credit Agricole Assurances (CAA) division will buy from Banco BPM 65% of the share capital of both Vera Assicurazioni and Banco BPM Assicurazioni. Reporting by Sudip Kar-Gupta, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ France's privacy watchdog fines Microsoft over cookies
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: 1 min

PARIS, Dec 22 (Reuters) - France's CNIL privacy watchdog said it had imposed a 60 million euro ($63.88 million) fine against Microsoft (MSFT.O) Ireland, saying it sanctioned the company for not having put in place a mechanism to let people refuse cookies as easily as accepting them. ($1 = 0.9393 euros)Reporting by Tassilo Hummel; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Carmaker Renault issues 210 bln yen bond
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

PARIS, Dec 22 (Reuters) - French carmaker Renault (RENA.PA) has issued a 210 billion yen ($1.6 billion) bond that will mature in December 2026 and carry a coupon of 2.80%, it said on Thursday, adding this highlighted its appeal to Japanese investors. "The final orderbook amounted to close to 300 billion yen, underlying the high confidence of Japanese retail investors in the Renault Group strategy as well as its ongoing transformation," Renault said. Earlier this month, Renault Chairman Jean-Dominique Senard, said he remained confident about the outcome of talks with its Japanese partner Nissan (7201.T). Renault wants Nissan to invest in a new electric-vehicle unit it plans to spin off as part of a major overhaul. Nissan wants Renault to sell some of its roughly 43% in the Japanese company to put the two carmakers on more equal footing, Reuters has previously reported.

☆ Eutelsat: suspending programmes in Russia and Iran will hit financial results
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

PARIS, Dec 22 (Reuters) - Eutelsat (ETL.PA) will take a bottom-line hit of around 10 to 15 million euros ($16 million) to its full-year revenues following the suspension of several television programmes in Russia and Iran, the company said. The moves to stop carrying three Russian programmes as well as ending all broadcasting activities in Iran, will cost the company's EBITDA operating profit 15-20 million euros ($15.96 -21.28 million) and reduce available cash flow by around 10 million euros. "Eutelsat has also ensured that it is not involved in the broadcasting of RT News in Russia," it added. The company's halting of broadcasting activities related to Iran came in reaction to a European Union regulation this month. ($1 = 0.9394 euros)Reporting by Tassilo Hummel; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Orange finance head Fernandez to join transport group CMA CGM
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +1 min

PARIS, Dec 20 (Reuters) - French telecoms group Orange's (ORAN.PA) deputy chief executive and head of finance, Ramon Fernandez, is leaving the company to join shipping and transport company CMA CGM as finance director. Fernandez will Orange at the end of the first quarter of 2023, the company said on Tuesday, adding that a successor will be named soon. French transport group CMA CGM said in a separate statement that Fernandez would start his new role at the start of the second quarter next year. "I would like to thank Ramon for his unfailing commitment to the group," Orange CEO Christel Heydemann said in statement. "We will continue to work together and in confidence over the coming weeks to finalise our next strategic plan."

☆ Fire near French city of Lyon kills 10, including 5 children
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: 1 min

PARIS, Dec 16 (Reuters) - Ten people, including five children, were killed - according to a provisional death toll - after a fire broke out on Friday morning at a residential building in Vaulx-en-Velin, near the French city of Lyon, the local government said. The local authority for the Lyon and Rhone region said the cause of the fire was not known at this stage. The fire occurred in the early hours of Friday morning at a seven-storey residential building in Vaulx-en-Velin. A security cordon has been set up at the site of the blaze, added the local authority. Reporting by Sudip Kar-Gupta; Editing by Tom Hogue and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

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