Evening Update 07 Aug

Five motorists, each one driving a Porsche in a high speed convoy going over 200km/h, have been stopped by French police. The incident happened around six yesterday evening, when five Korean nationals all on holiday in France with rented Porches, were stopped for driving at excessive speed. Each had their car confiscated, was given a €750 fine and issued with a driving ban in France.

There are still disruptions to flights between London and Nice Cote d’Azur airport today following an IT failure in the UK. Two British Airways flights were cancelled this morning, while tonight’s 7pm arrival and 7.50 BA departure to Heathrow has been cancelled also. Overall more than 200 flights across the UK were delayed or cancelled due to the IT outage. Anyone travelling to the UK tonight is advised to check with their airline.

Police in Nice put a complete stop to diving at the popular Rauba Capeu diving spot and completely banned diving in the area. To ensure the ban is kept in place, police have covered the entire area in netting, making access impossible. The diving spot, popular among young people, is treacherously dangerous with three serious incidents so far this summer, one which led to a traumatic brain injury.

There’s a new scam on the beach. Sun bathers are warned that criminals now have small electronic devices that can copy credit card details. Victims are often unaware that a beachgoer or a "fake tourist" sitting beside them, can copy bank details from contactless credit cards. Riviera Radio listeners on Facebook advise getting an RFID wallet which will block any signals with contactless cards.

BUSINESS

An accelerated slide has seen 10-year US Treasury yields hit their lowest value since 2016. It’s on the back on concerns about the US/China trade war and aggressive rate cuts by overseas central banks. The yield on the 10-year Treasury note, used as a benchmark for mortgage rates and car loans, hit a low of 1.59%.

Stocks are falling once again on Wall Street with the Dow Jones Industrial Average dropping almost 500 points. Investors are moving back into safe havens like gold, just as they did on Monday, when stocks dropped the most they have in a single day this year, while gold reached a six-year high.

SPORT

Athletics - Italy have been warned they could be banned from the Olympic Games next year. It follows a move by the Italian government last night to become more involved in the management of their national Olympic Committee. In a letter to the Italian Committee, the IOC said the government move ‘would call into question’ the committees independence and could, in the worst case, lead to exclusion from the next Olympic Games in Tokyo.

Tennis - The Top 10 highest-earning female sport athletes over the past year are all tennis players. Serena Williams tops the list after earning $29m while Japan's Naomi Osaka, who beat Williams in the US Open final, is second.