Monday , January 27 2020
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France

French business climate resilient despite social unrest

Latest business climate figures show French companies in most sectors remained undeterred by recent social unrest. Sensitivity to consumer demand seems high but there’s certainly no sense of panic The main business climate indicator decreased slightly from 105 to 104.5 in January. Considering it is a 10-month low, it could be taken as bad news. However, given the period of ... Read More »

Man tries to smuggle 1,439 litres of alcohol over Luxembourgish border

French customs officers stopped a white van just after the Luxembourg-France border on the A31, early on Sunday morning, when the driver attempted to flee. According to the Républicain lorrain, customs officers noticed the van at 2am on Sunday 11 January as it headed towards Metz, and signalled for the van to follow them. The driver seemed to comply at ... Read More »

France and US compromise over a controversial tax on Google, Facebook, and other digital companies.

France and the US have set a two-week deadline to reach a compromise over a controversial digital tax, French finance minister Bruno le Maire told reporters Tuesday. The French finance minister is set to meet US Treasury Secretary Steve Mnuchin at the World Economic Forum later this month. In the meantime, le Maire said that he had come to an ... Read More »

Tax-free Irish Google unit paid $50bn in dividends

An Irish arm of Google has paid dividends of $50.8bn (€45.3bn) over the past two years, ahead of it losing the benefits of the so-called ‘double Irish’ tax scheme. The latest accounts show its profits were entirely tax-free in 2018. During 2019, dividends of $27.9bn were paid by Google Ireland Holdings Unlimited (GIHU) to the company’s immediate parent. In 2018, ... Read More »

French businesses hit by strike encouraged to delay tax payments

The French government is encouraging businesses affected by three weeks of strikes against pension reform to apply for a deferral in paying their social charges. In mid-December, the government reactivated a procedure put in place for businesses affected by Yellow Vest protesters. By deferring payments, businesses can “recover cash flow at a complicated moment”, said Laurent Maillard, spokesman for President ... Read More »

Google Fined $167 Million in France Amid Crackdown on Online Ads

Google was fined 150 million euros ($167 million) in a French antitrust case involving online advertising as regulators throughout Europe criticize the tech giant’s business practices. The French authority found Google abused its dominant position in search when it set “opaque and difficult to understand operating rules” for its Google Ads advertising platform that it applied unfairly and randomly. It’s ... Read More »

France: dynamism and composition of business investment

Although not as significant as during the 2004-2007 boom period (+4.8 % per year on average), the dynamism of French business investment has nonetheless been noteworthy since 2014 (+3.4%). In 2018, its contribution to GDP growth (0.5 percentage points) was slightly above the one of household consumption (this latter lacking itself in dynamism) and in 2019, according to our forecasts, ... Read More »

Time to crack down on hidden lithium ion battery shipments, says air cargo

Governments must begin issuing fines and penalties for manufacturers that make counterfeit batteries or mis-label lithium battery shipments. In yet another rare example of the air cargo industry working together, IATA, FIATA, Tiaca and the Global Shippers’ Forum have urged governments to step up and enforce regulations. The aim is to prevent the transport of mis-labelled, non-compliant and potentially dangerous ... Read More »

Electronic Swiss franc? Not so fast, government says

ZURICH : The Swiss government took a downbeat view of creating a central bank digital currency for public use, saying it could do more harm than good and destabilize the financial system. “Universally accessible central bank digital currency would bring no additional benefits for Switzerland at present. Instead, it would give rise to new risks, especially with regard to financial ... Read More »

France ready to take Trump’s tariff threat to WTO

PARIS: France is ready to go to the World Trade Organization to challenge US President Donald Trump’s threat to put tariffs on French goods in a row over a French tax on internet companies, its finance minister said on Sunday. “We are ready to take this to an international court, notably the WTO, because the national tax on digital companies ... Read More »

French Manufacturing at Five-Month High in November-PMI

PARIS — French manufacturers saw business pick up at the fastest pace in five months in November, underpinned by improving client demand, a survey showed on Monday. Data compiler IHS Markit said its Purchasing Managers’ Index (PMI) for the manufacturing sector rose to 51.7 from 50.7 in October, marginally better than a preliminary reading of 51.6. The improvement not only ... Read More »

Thai court fines Philip Morris $40 million for customs breach

BANGKOK, : A Thai court fined the local unit of Philip Morris PM.N 1.2 billion baht ($40 million) for customs violations on cigarette imports on Friday, while dropping criminal charges against seven of its employees. The Thai public prosecutor filed charges in 2016 against Philip Morris Thailand and seven of its Thai employees, alleging under-reporting of the value of more ... Read More »

French paedophile surgeon may have had more than 250 victims

French prosecutors say a retired surgeon jailed since May 2017 for sexually abusing four girls may have had more than 250 victims. Joël Le Scouarnec has now had a series of new cases opened against him by a court in Brittany, in what may be the most serious case of child sex abuse in France. According to the state prosecutor ... Read More »

Beaches in south west France closed after 900kg of cocaine washes ashore

French authorities have closed beaches in south west France as packages of cocaine and other drugs continue to wash up daily along the Atlantic coast, with nearly 900kg discovered since mid-October. Officials say the cocaine is extremely pure at some 83 percent, warning people who find the packages not to touch them but to warn the police. That has not ... Read More »

French firm Axereal seals acquisition of Cargill’s malt business

Axereal, France’s largest grain cooperative, said it had sealed its previously-announced acquisition of Cargill’s malt business, in a deal which would make Axereal’s Boortmalt unit the world’s leading company in terms of malt production. Boortmalt will take over all of Cargill’s malt activities, featuring 16 malthouses in nine countries, nearly 600 employees, and with a total production capacity of 1.7 ... Read More »

EU Chamber says China’s new foreign investment law is ‘surprisingly accommodating’

BEIJING — At least on paper, the Chinese government is trying to show how serious it is about improving the local business environment for foreign companies. Joerg Wuttke, president of the European Union Chamber of Commerce in China, told reporters Friday that based on a preliminary look at the country’s new foreign investment law, “It is surprisingly accommodating to all ... Read More »

France Product Lifecycle Management (PLM) Market Analysis Report 2019

The France PLM Market Analysis Report provides a comprehensive assessment of the PLM market in France and includes over 25 tables and charts. Tables highlight investments in PLM-related software and services for the PLM market, as well as for the major PLM market sub-segments. The report also provides five-year forecasts for PLM investments. In addition, the estimates of revenue performance ... Read More »

Hinkley Point builder accused by France of ‘unacceptable’ failings

President Macron’s economy minister has accused the French state-owned company building Britain’s new nuclear plant of “unacceptable” failings as he threatened sweeping change at the group. Bruno Le Maire said yesterday that the French nuclear sector was like “a state within a state” and he denounced cost overruns and delays in the construction of the Hinkley Point C nuclear reactor ... Read More »

UK customs says staff shortage won’t mean Brexit anarchy

PARIS : Britain does not have enough customs agents to cope with the additional stresses of a no-deal Brexit, one of the officials responsible for infrastructure at its border with the EU said on Thursday, though she dismissed fears of “anarchy in the UK”. Just weeks before Britain is due to leave the European Union on Oct. 31, there is ... Read More »

European stocks sink after weak business surveys

Germany’s main share index fell over 1% on Monday, leading European markets lower after business activity readings from across the euro zone suggested growth had ground to a halt. Surveys showed growth in services and manufacturing in the euro zone, Germany and France had all stalled in September, fanning concerns of a slide towards recession and suggesting further support for ... Read More »