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BANQUE HAVILLAND

Evening News Update Monday 03 December

Guilets Jaunes  - Thousands of students have demonstrated on streets across the Riviera this morning. In Antibes students tried to block a number of traffic points but were dispersed by police, who at times had to use tear gas.

There were other demonstrations in Vence, Cannes and Grasse, however it was Nice which saw the biggest demonstrations. Thousands of students there caused significant disruption to traffic, trams and busses between the airport and to the Gare at Nice Ville, and at times blocked the Voie Mathis. Like the guilets jaunes movement, the students have organised on social media to make their own protest against the government.

Meanwhile, some of the yellow vest protesters, who clashed violently with police in Nice on Saturday, are to appear before court. They face up to one year’s imprisonment and a €15,000 fine for contempt and rebellion. The yellow vest movement is protesting the high cost of living and taxes in France.

Truck - There was some traffic disruption at Cannes La Bocca today when a truck got stuck under a bridge on the Boulevard de l’Esterel. The truck, laden with contributions to the weekend’s food bank collection, was eventually released.

BUSINESS

‘Yellow Vest’ protests are having an effect on the economy. Shares in large French firms, such as Carrefour, were suffering from fears shoppers were avoiding stores given the scale of the violence. Tourism-related stocks were also hit as hotels in Paris report a dramatic rise in cancellations. Shares in Air France and hotel chain Accor have also been affected, falling 1.6% and 2.7% respectively.

Qatar has announced it is pulling out of the OPEC in January to focus on gas production. Qatar, the world's biggest exporter of liquefied natural gas, has been boycotted by some Arab neighbours over allegations that it funds terrorism. Analysists say the future of OPEC is now on shaky ground, as essentially the oil cartel is just a two-member organization with Russia and Saudi Arabia.


SPORT

Football - The semi-finals of the Nations League were announced this afternoon, with the Netherlands drawn to play England and Switzerland against Portugal. The winners will receive over €7m in prize money in addition to a qualification in Euro 2020.

UEFA has announced Video Assistant Referee’s will be used in the Champion and Europa Leages this season, a year ahead of schedule. The VAR will be used in the last 16 of the current Champions League, next year at the Nations Leagues finals and in the finals of the European Under-21 Championship.

UEFA also confirmed at its Executive Committee meeting in Dublin today, that England will host the 2021 Womens European Championship, with the final held in Wembley in July.

Rugby - The Heineken Champions Cup and Challenge Cup are to run late this year to facilitate the Rugby World Cup in Japan. First kick-off will now take place mid-November, then revert to the usual weekends in December and January, with both finals to take place in Marseilles at the end of May.

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