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☆ 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.

☆ French financial prosecutor confirms GE's Belfort site searched
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +2 min

PARIS, Dec 16 (Reuters) - Searches were conducted on Thursday at U.S conglomerate General Electric's (GE.N) Belfort site in France as part of an ongoing probe into possible tax fraud, France's financial prosecutor said on Friday, confirming an AFP report. In an email responding to a Reuters request, deputy financial prosecutor Antoine Jocteur-Monrozier said the searches were part of a preliminary probe into alleged money laundering and tax fraud. Unions accused management of trying to show the site was losing money in order to justify the job cuts at the site – depriving the French government of millions of euros in tax revenue in the process. GE has denied the claims, saying it obeys the tax laws in every country where it operates. ($1 = 0.9406 euros)Reporting by Sudip Kar-Gupta and Silvia Aloisi; editing by Jason Neely and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

[1/2] The European Central Bank (ECB) building is seen from a cafe amid Christmas decorations, before the monthly news conference following the ECB's monetary policy meeting in Frankfurt, Germany December 15, 2022. Formed in October, Meloni's government is also holding out on ratifying the euro zone's bailout fund. INFLATION TARGETECB policymakers from across the euro zone defended the bank's decision-making on Friday. Estonian governor Madis Mueller said rates would probably need to rise more than markets had expected so far, while Finnish central bank chief Olli Rehn said 50 bps hikes were likely at each of its next two meetings. Inflation in Germany, the euro zone’s biggest economy, is likely to be higher than earlier thought while economic growth will be weaker with a recession next year now certain, the Bundesbank said on Friday.

☆ EU's Borrell: European Parliament corruption probe is "very worrisome"
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 12 (Reuters) - A Belgian investigation into alleged corruption at the European Parliament is "very worrisome", European Union foreign policy chief Josep Borrell said on Monday after raids and arrests linked to alleged money and gifts from Qatar. The European Parliament said at the weekend it had suspended the powers and duties of one of its vice presidents, Greek socialist Eva Kaili, in light of the Belgian investigation. "Certainly the news is very worrisome," Borrell told reporters as he arrived at a meeting of EU foreign ministers. "We are facing some events, some facts that certainly worries me as a former president of the European Parliament, also." The European Parliament was due to vote this week on a proposal to extend visa-free travel to the EU for Kuwait, Qatar, Oman and Ecuador.

[1/2] A woman holds a small bottle labelled with a "Coronavirus COVID-19 Vaccine" sticker and a medical syringe in this illustration taken October 30, 2020. REUTERS/Dado RuvicPARIS, Dec 8 (Reuters) - France's Haute Autorite de Sante public health body advised the government not to use Valneva's (VLS.PA) VLA2001 COVID-19 vaccine as part of its wider vaccination strategy, although two rival products should be included as booster shots. The snub caused Valneva's shares to fall, with Valneva down by around 1% during the late morning trading session in Paris. "However, the HAS does not include the use of Valneva's VLA2001 vaccine in the current primary vaccination strategy", it added. Reporting by Jean-Stephane Brosse and Tassilo Hummel; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ France's CNIL watchdog fines Iliad's Free unit 300,000 euros for privacy failings
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: 1 min

PARIS, Dec 8 (Reuters) - France's CNIL privacy watchdog on Thursday said it had fined 300,000 euros ($315,570.00) against Iliad's telecoms business 'Free' for failings over protecting their customers' personal data. "Checks have revealed several breaches, in particular with regard to privacy rights of concerned persons (...) and data security", said the watchdog in a statement. ($1 = 0.9507 euros)Reporting by Tassilo Hummel; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ European Union seeks two WTO panels on China disputes
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, Dec 7 (Reuters) - The European Union has requested the setting up of World Trade Organization panels for two of its trade disputes with China, the European Commission said on Wednesday. By seeking such panels, the bloc aims to protect member nations against discriminatory measures by China that the EU considers to be in breach of WTO rules, it added. Reporting by Sudip Kar-Gupta;Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Euro zone economic growth revised up with household, business support
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, Dec 7 (Reuters) - Euro zone gross domestic product (GDP) grew by slightly more than initially estimated, data from the European statistics agency Eurostat showed on Wednesday, with household spending and business investment propping up the economy. Eurostat said GDP growth in the third quarter was 0.3% in the 19-country euro area in the July-September period from the previous quarter and 2.3% year-on-year, above its flash estimates of 0.2% and 2.1% published in mid-November. Household spending added 0.4 percentage points to euro zone growth and gross fixed capital formation 0.8 points. The contribution from government expenditure was negligible, while trade was a net negative of 1.1 percentage points. Employment levels also expanded in the euro zone by 0.3% quarter-on-quarter, the same pace as in the second quarter of 2022.

☆ Strong sugar prices help Tereos offset high production costs
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

PARIS, Dec 6 (Reuters) - French sugar group Tereos reported strong first-half results on Tuesday, including a net profit and a sharp rise in earnings, as high sugar and ethanol prices helped offset an increase in production costs. Over the same period, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 132% to 464 million euros. In Brazil, where Tereos is among the largest sugar and ethanol producers, the group should benefit from expected high prices and a higher sugarcane crushing volume, at 17.3 million tonnes, up from 15.6 million tonnes in 2021. However, Tereos expects its net debt at March 31, 2023 to be higher than at March 31, 2022 as higher costs led to a rise in working capital. Tereos said in October it would raise the price at which it will buy sugar beet from its members by 40% from last year.

☆ French airports company ADP's shares slump as Royal Schiphol sells off ADP stake at discount
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

PARIS, Dec 6 (Reuters) - Royal Schiphol Group has sold off its remaining stake in French airports company Aeroports de Paris (ADP) (ADP.PA), ADP said on Tuesday, prompting ADP's shares to slump as the sale took place at a sharp discount to ADP's recent share price. ADP said Royal Schiphol had sold off the shares at a price of 133 euros per share - a sharp discount to ADP's closing share price of 147.65 euros on December 5. ADP shares were down 13.68% at 127.05 euros in early session trading - the worst performer on France's SBF-120 index (.SBF120). The French state owns just over 50% of ADP's share capital. Royal Schiphol had already sold in November a 2.5% stake in ADP to Credit Agricole (CAGR.PA) and a 1.6% stake to Canada Pension Plan Investment Board.

☆ Sanofi says any offer for Horizon Therapeutics, if made, will be in cash
▼ + stars: | 2022-12-02 | by ( Dominique Vidalon | ) www.reuters.com time to read: +1 min

PARIS, Dec 2 (Reuters) - French drugmaker Sanofi (SASY.PA) said on Friday that if it decides to bid for biotech company Horizon Therapeutics Plc (HZNP.O), it would do so in cash. Horizon Therapeutics Plc, which has a market capitalization of about $18 billion, is in talks with Amgen Inc (AMGN.O), Sanofi (SASY.PA) and Johnson & Johnson (JNJ.N) unit Janssen Global Services over potential takeover offers. "Any offer for Horizon Therapeutics Plc (HZNP.O), if made, would be in cash, as required by Rule 2.12 of the Takeover Rules," Sanofi said in a statement. "There is no certainty that any offer will be made, nor as to terms on which any such offer may be made, if forthcoming," it added. Horizon, which makes drugs for rare, autoimmune and severe inflammatory diseases, has said there is no certainty that it will receive a takeover offer.

☆ Blinken says he will support France in World Cup if U.S. team eliminated
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] U.S. Secretary of State Antony Blinken holds a joint press availability with French Foreign Minister Catherine Colonna at the State Department in Washington, U.S. October 21, 2022. REUTERS/Michael A. McCoyPARIS, Dec 2 (Reuters) - Antony Blinken, the U.S. Secretary of State who spent much of his childhood in Paris, said he could support the French soccer team in the World Cup if the U.S. team got knocked out before the French. "I support the United States team but if they cannot make it to the very end and France manages to get there, well in that case - 'Allez Les Bleus! '," Blinken told France 2 TV, referring to the "Les Bleus" nickname for the French team. The United States play Netherlands in the first knock-out stage on Saturday, while France face Poland on Sunday.

☆ How small businesses can capitalize on the holiday shopping frenzy using social media marketing
▼ + stars: | 2022-11-30 | by ( Alexandra York | ) www.businessinsider.com time to read: +7 min

Social media is one way to attract the eager customers and book sales this holiday season. Social media is one way to do so. Social media helps Dixson establish credibility for prospective customers and land brand partnerships, which help financially support her business, she said. Read more: Founder Finances: A subscription-box founder shares the monthly budget she uses to hit six figures in sales3. courtesy of CurtisAlexa Curtis invests in shaping her overall personal brand, which she shares with followers on social media.

STOCKHOLM, Nov 28 (Reuters) - Philip Morris International (PMI) (PM.N) said on Monday it now owned a big enough stake in Swedish Match (SWMA.ST) to initiate a compulsory redemption of remaining shares in its Swedish peer and would take it off the stock market. Marlboro maker PMI in May launched a $16 billion takeover bid for the Swedish tobacco and nicotine products company. Buying Swedish Match, with its popular wet snuff "snus" products and tobacco-free nicotine "ZYN" pouches, will aid PMI in its stated ambition to move away from health-harming cigarettes and eventually become a smoke-free company. Swedish Match was not immediately available for comment. ($1 = 10.3774 Swedish crowns)Reporting by Marie Mannes and Anna Ringstrom, editing by Essi Lehto and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

SINGAPORE, Nov 28 (Reuters) - Link Real Estate Investment Trust (0823.HK), Asia's biggest REIT, has emerged as the frontrunner to buy a portfolio of assets from Singapore shopping mall owner NTUC Enterprise Co-operative Ltd, multiple sources told Reuters on Monday. If Link REIT does buy, the assets will be its first in Singapore. Mercatus and Hong Kong-listed Link REIT declined to comment on the matter. Nearly three-quarters of its portfolio value is in Hong Kong. Link REIT has been on the prowl for assets in Singapore and other countries to diversify its portfolio.

☆ French retailer Casino launches stake sale in Brazil's Assai
▼ + stars: | 2022-11-28 | by ( Pablo Mayo Cerqueiro | David French | ) www.reuters.com time to read: 1 min

PARIS, Nov 28 (Reuters) - French supermarket retailer Casino (CASP.PA) said on Monday it had launched a stake sale in Brazilian cash-and-carry chain Assai (ASAI3.SA) as part of its general debt-cutting plans. Casino said it was selling 140.8 million shares in Assai, representing 10.4% of the company's share capital, and that it could sell a further 3.7% of Assai later. Based on Assai's closing share price of 19.21 Brazilian real ($3.55) on Nov. 25, the sale of 140.8 million shares would be worth 2.7 billion reals ($499 million). Casino said the Assai share sale would take the form of a secondary public offering. ($1 = 5.4098 reais)Reporting by Sudip Kar-Gupta; Editing by Edmund Klamann and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

☆ Remy Cointreau first-half profit beats estimates, cautiously optimistic on China
▼ + stars: | 2022-11-24 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

PARIS, Nov 24 (Reuters) - France's Remy Cointreau (RCOP.PA) reported a stronger-than-expected 27% jump in first-half operating profit and kept its guidance for a slower second half, saying consumption trends were returning to more normal levels. Chief Executive Eric Vallat also said he was "cautiously optimistic" about business in China, a key market, in the short-term although visibility was low due to on-and-off lockdowns. Remy Cointreau shares fell 2.9% in morning trade. Vallat added he was confident in China in the longer-term due to strong appetite there for its premium cognacs. Operating profit at its cognac division, which accounts for nearly 90% of group profit, surged 36% to 299.7 million euros in the first half.

☆ Remy Cointreau posts first-half profit above expectations, keeps outlook
▼ + stars: | 2022-11-24 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

PARIS, Nov 24 (Reuters) - Remy Cointreau (RCOP.PA) reported a stronger-than-expected 27.2% organic jump in first-half operating profit, driven by strong demand for its premium cognac in China and the United States and cost controls. As Remy Cointreau continues to invest in marketing and communications particularly in the second half of the year, current operating profit margin will be driven by gross margin resilience despite an inflationary environment and tight control of cost overheads, the statement said. Group current operating profit for the six months to Sept. 30 reached 319.3 million euros ($333.1 million), marking an organic rise of 27.2%. That outperformed a company-compiled consensus of 22 analysts that forecast current operating profit of 306 million euros, up 23.8% like-for-like. Operating profit at the Remy Martin cognac division, which makes nearly 90% of group profit, totalled 299.7 million euros in the first half, marking an organic rise of 35.7%.

☆ French Caterer Elior weighs a tie-up with biggest shareholder Derichebourg -Bloomberg News
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +2 min

PARIS, Nov 23 (Reuters) - Elior (ELIOR.PA) is discussing a possible tie-up with its biggest shareholder Derichebourg (DBG.PA) as the French caterer looks to shore up its balance sheet amid ongoing high-inflation environment, Bloomberg News reported on Wednesday. An Elior spokesperson declined to comment on the Bloomberg News report while officials at Derichebourg could not immediately be reached for comment. "The board of directors is finalizing examining various scenarios with the aim to retain the one that will optimize the Group's strategic orientations and improve its financial position," Gault said in a statement. Earlier this year, French metal scrap recycler Derichebourg increased its stake in Elior, to 19.6%, making it the catering group's largest shareholder. Elior's biggest investor, Derichebourg, has no plans to make an offer for the entire company if the tie-up plan proceeds, according to the report.

☆ Kering confirms departure of Gucci creative director Alessandro Michele
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: 1 min

PARIS, Nov 23 (Reuters) - French luxury goods company Kering (PRTP.PA) confirmed on Wednesday the departure of Gucci creative director Alessandro Michele. "There are times when paths part ways because of the different perspectives each one of us may have. Today an extraordinary journey ends for me, lasting more than twenty years, within a company to which I have tirelessly dedicated all my love and creative passion," said Michele in a statement. Reporting by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ SocGen and Alliance Bernstein to launch global equities venture
▼ + stars: | 2022-11-22 | by ( Gabriel Araujo | ) www.reuters.com time to read: +1 min

PARIS, Nov 22 (Reuters) - Societe Generale (SOGN.PA), France's third-biggest listed bank, and U.S. investment management company Alliance Bernstein (AB.N) plan to form a joint venture focusing on global cash equities and equity research, they said on Tuesday. SocGen plans to take a 51% interest in the venture, with an option to take 100% ownership after five years, the French bank said, adding that the business would boost its profit from 2025 onwards. The joint venture will be run as a long-term partnership under the Bernstein name and will be headquartered in London. Robert van Brugge, CEO of Bernstein Research Services, will become CEO of the new entity for an initial term of five years, with Stephane Loiseau, head of SocGen's cash equities business, becoming his deputy. Reporting by Sudip Kar-Gupta Editing by Kirsten Donovan and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Pernod Ricard confident about Europe, Mid-East, Africa and Latam business
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

PARIS, Nov 22 (Reuters) - French spirits group Pernod Ricard (PERP.PA) is confident that its business in Europe, the Middle East, Africa and Latin America (EMEA/LATAM) will continue to deliver above market sales growth while protecting its margins in the 2023 fiscal year, EMEA-LATAM CEO Gilles Bogaert said on Tuesday. Bogaert was speaking in a video clip ahead of an investor presentation later in the day. A key focus for the region, which accounts for about 30% of group sales, entailed growing revenue to protect margins, continuing to increase prices, "agile" resource allocation and further digital transformation, he said. Last month, Pernod Ricard, the world's second-biggest spirits group behind Diageo (DGE.L), said it was confident group sales growth would remain dynamic through the fiscal year to June 30 after it delivered forecast-beating sales in the first quarter helped by price increases as consumers trade up to its premium spirits. Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ A quarter of entrepreneurs said holiday sales will determine if their businesses can survive in 2023. Here are 2 strategies they're implementing to save them.
▼ + stars: | 2022-11-16 | by ( Emily Canal | ) www.businessinsider.com time to read: +3 min

Q4 is often the most important time of year for small-business owners who are hoping to reap holiday sales. However, in the last two years, many entrepreneurs have faced challenges such as supply chain woes. However, throughout the pandemic, many small-business owners have faced challenges during the holidays, such as rising inflation, supply chain woes, and changing consumer habits. Here are the strategies small-business owners are tapping ahead this holiday season. That's because 74% said they were worried about supply chain issues heading into Q4.

☆ As EU sanctions come, Macron says Iran 'revolution' harms nuclear deal prospects
▼ + stars: | 2022-11-14 | by ( John Irish | ) www.reuters.com time to read: +2 min

"The grand children of the revolution are carrying out a revolution and are devouring it," Macron said when asked to qualify what was taking place in Iran. Ties between France and Iran have deteriorated in recent months as efforts to revive the nuclear talks, to which France is one of the parties, have stalled. "I don't think there will be new proposals which can be made right now [to save the nuclear deal]", he said. The EU, the United States, Canada and Britain have imposed sanctions on Iran. EU foreign ministers will impose new sanctions on Iran on Monday, diplomats and officials have said.

☆ France's Macron leaves door ajar to proscribe Iran's Guards as more sanctions come
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: 1 min

PARIS, Nov 14 (Reuters) - French President Emmanuel Macron said on Monday more targeted European Union sanctions on Iranian officials would be adopted and he left the door open to the bloc designating Iran's Revolutionary Guards (IRGC) a terrorist organisation. "We are several who are pushing for targeted sanctions especially on pasdaran (IRGC) and people in the regime," Macron told France Inter radio in an interview." When asked whether he would support designating the IRGC as a terrorist organisation, Macron said as things developed the question needed to be looked at. Reporting by John Irish, Tassilo Hummel, editing by Sudip Kar-Gupta and Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

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