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Evening Update 13 Mar

Galderma - At Biot, no agreement has been reached between management at Galderma and parent company Nestlé, over compensation for employees being let go when Nestlé close the facility later this year. An offer from Nestlé will now be put to the local Directorate who will decide whether to approve it or not. The 550 employees have been striking for the past few days.

Landslide - A large landslide in the Vésubie has blocked the road at St-Jean-la-Riviére near Utelle. Although the obstruction will be cleared quickly, works to secure the surrounding cliff mean the road will be closed for a week. Diversions are in place.

Smoking - New figures show higher prices and plain packaging on cigarettes are having little effect on French smokers. The figures say 29% of the population smoke, a number that’s been consistent for a number of years. Smoking is a factor in 78,000 deaths in France each year, making it the leading cause of premature death in the country.

Chef - The head chef of a Nice restaurant has won first prize at the exclusive Cullére d’Or cooking competition in Paris. The competition, exclusively for female chefs, was held last Thursday and Nathalie Ragot, from Le Bistro Gourmand was the winner.

Cap d’Ail - Part of the coastal path at Cap d’Ail has been closed this week to allow for the demolition of extensions to the Villa La Colombe. The town has been demanding the work be done for 20 years, and the work is to be carried out over the next two months, at the owners expense. The coastal path will re-open in the middle of May.

BUSINESS

President Donald Trump's decision to replace Secretary of State Rex Tillerson, with CIA Director Mike Pompeo, is moving financial markets. The United States Dollar Index fell as much as a quarter of a percent immediately after the appointment was announced. Traders are concerned Tillerson's departure is a sign the administration will institute protectionist policies and be more aggressive in negotiating trade relationships with other countries.

The OECD has increased it growth projections for the UK by one percentage point, but at 1.3% it remains the slowest growing economy in the G20. Overall the OECD says the world economy is set to expand at an annual pace of 3.9% over the next two years thanks to US tax cuts and spending in Germany.

A takeover of American computer chip maker Qualcomm, by Asian rival Broadcom has been blocked by President Trump on grounds it threatens to impair national security.  The $100 billion dollar takeover would have made Broadcom the third largest maker of microchips, behind Intel and Samsung.

SPORT

Tennis - Serena Williams, who’s back to professional tennis after having a baby, says she has a long way to go following defeat by sister Venus in round three at Indian Wells. The former world number had her serve broken four times in a 6-3 6-4 loss in California.

Football - The president of Greek club Salonika has apologised for invading the pitch with a gun, during his side's match on Sunday, to protest a late goal which was ruled offside against Athens. The incident led to the Greek Super League being suspended indefinitely. FIFA have threatened to suspend Greece from international competition and expects the national governing body to take appropriate measures and rapidly.

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