France

Enter a keyword
Emmanuel Macron defeated far-right leader Marine Le Pen in the French presidential election on a pro-business, pro-European Union platform, bolstering the bloc in the midst of its worst security crisis in decades, Bloomberg News reported. With counting still under way, projections by France’s five main pollsters put Macron on course to win about 58% of the vote in Sunday’s runoff compared with 42% for Le Pen. The euro rose after the nationalist leader conceded defeat in a speech to her supporters in Paris.
Read more
As President Emmanuel Macron far-right candidate Marine Le Pen cross France in a whirlwind of last-minute campaigning, their runoff will hinge to a large extent on perceptions of the economy, the New York Times reported. Worries about widening economic insecurity, and the surging cost of living amid the fallout from Russia’s war on Ukraine, have become top issues in the race, ahead of security and immigration. Ms.
Read more
French financial prosecutors have opened a preliminary investigation into suspected tax fraud by American management consulting firm McKinsey & Company, the Associated Press reported. The national financial prosecutor’s office said Wednesday the investigation was launched last week for alleged “money-laundering aggravated by tax fraud.” French President Emmanuel Macron said he was “shocked” by the suspicions of tax evasion on the part of consulting firms. “The response will be European, since we have passed a reform which will allow ...
Read more

Delta Air Lines Inc. said it’s working with Air France-KLM as the Paris-based airline considers joining in the bidding for a stake in Italy’s state-owned carrier, Bloomberg reported. Italia Tranporto Aereo would be a welcome recruit to the North Atlantic alliance led by Delta, according to Ed Bastian, the U.S. carrier’s chief executive officer. “Air France-KLM is in the lead in terms of actually making a potential investment,” Bastian said in a briefing in London on Tuesday.

Read more

Electricite de France SA forecast a deeper hit to earnings from falling nuclear output and the French government’s cap on power prices for consumers, highlighting its vulnerability to Europe’s escalating energy crisis, Bloomberg reported. EDF had already warned it would be squeezed this year, with its French atomic output dropping to a three-decade low due to reactor works. The situation has been worsened by a government decision to force EDF to sell more power at a discount and to delay part of a tariff hike for customers.

Read more
France is to introduce a rebate of 0.15 euros ($0.16) per litre of transport fuel to help drivers cope with soaring pump prices, Prime Minister Jean Castex said, Reuters reported. The measure, to apply for four months from April 1, is expected to cost the government just over 2 billion euros, he said. Retail gasoline and diesel prices soared to record highs in many countries across the world this week as Russia's invasion of Ukraine added to market tensions, after economies had begun recovering from the coronavirus pandemic.
Read more
The French government is considering whether to revive an ambitious plan to nationalize debt-laden Electricite de France SA and reorganize its business with a focus on nuclear production, Bloomberg News reported. The energy market chaos exacerbated by the Russian invasion of Ukraine is giving fresh impetus to France’s long-mooted push to restructure its biggest power supplier. Officials have been having early talks with potential advisers about the idea of buying out EDF’s minority shareholders and delisting the company from the stock market.
Read more
Air France-KLM is exploring new ways to raise funds to pay back a government pandemic bailout, while cautiously ramping up capacity as the latest coronavirus wave fades, Bloomberg News reported. The shares fell as much as 6.3% in Paris on Thursday after the struggling airline laid out options to raise capital of as much as 4 billion euros ($4.5 billion). Selling more equity would help the group lower debt and free itself from the conditions of state aid, but would also dilute existing owners.
Read more
L’Écocirque features all the awe-inspiring acts that audiences have come to expect under the big top—aerialists walking a tight rope, a juggler deftly keeping multiple pins in motion, and a burly man displaying incredible feats of strength. What makes it distinct is the innovative way it includes wild animals, despite widespread bans on their use in the circus. The trick? Instead of live animals, l’Écocirque employs holograms, Bloomberg Businessweek reported.
Read more
France assumed Germany’s traditional role as the driving economic force in Europe after a strong finish to last year, while the German economy contracted in the final three months as it grappled with a resurgence of the coronavirus, official data showed Friday, the New York Times reported. Economists expect growth across Europe to return to pre-pandemic levels in the first part of this year but with the pace varying by country.
Read more