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Evening Update 27 Sept

Budget - The government has unveiled their budget for 2018, with the top headline being the phasing out of tax d’habitation, starting with a 30% cut next year. They have also eliminated contributions for illness and unemployment but that has been balanced by a 1.7% increase in CSG. Also, the ‘fortune tax’, previously levied on all wealth, will now only be liable on property worth over €1.3 million.

Terror - Two more people have been handed prison sentences today, for falsely claiming they injured during the July 14th attack in Nice. The couple from Seine-Saint-Denis near Paris, were on holidays in Cannes at the time, with another couple who were sentenced earlier this year for making the same false claim and taking €30,000 each in compensation from the victims fund.

Meanwhile mayors from major towns across Europe are arriving in Nice this afternoon for a conference on how to protect our cities from future terror attacks. The conference which starts tomorrow, was been organised by Christian Estrosi after the recent attack in Barcelona.

Menton - ‘Pedestrian Sundays’, which have proved popular in Menton are to be no more. The town council says installing and removing concrete blocks each Sunday is cost prohibitive, and now the State of Emergency is coming to an official end, they have decided to end the practice.

Survey - A new survey of the ‘Least Stressful Cities in the World’, has placed Nice as the second best city in France to live an easy life. The survey, which took in factors such as unemployment, debt, traffic, public transport and pollution, put Stuttgart Germany at the top of the list, with Bordeaux sixth, and Nice fourteenth. Monaco came in at number 39.  

BUSINESS

President Macron is wooing business from London with two key changes announced in the budget today. The first will eliminate the higher marginal tax rate for high-earning employees in the financial sector, while the second is a cut to Frances corporation rate, from the current 33% down to 25% over the next five years.

Ryanair have withdrawn from the purchase of Italian carrier Alitalia, saying it needs to eliminate all management distractions, and concentrate on the current crisis surrounding the airline. That crisis deepened today as the airline announced the cancellation of an additional 18,000 flights over the winter season. However, neither of Ryanair’s services from Nice Cote d’Azur airport, to Dublin or London, have been affected. Ryanair’s share price continues to take a battering, dropping 16% on the NASDAQ and the London Stock Exchanges.

Scania has been fined 880m euros by the European Commission for colluding with five other truck-makers over prices and emissions costs. The other five companies were given a record 2.9bn euro fine in July last year, but Scania held out, and would not co-operate with the investigation. Today, the EU antitrust regulators ruled that Scania, owned by Volkswagen, had colluded with other companies for 14 years.

SPORT

Football - There are eight Champions League matches tonight including Basel against Benfica and CSKA Moscow hosting Manchester United and Athletico Madrid are up against Chelsea. The big local match is Paris St Germain taking on Bayern Munich. PSG are in flying form, undefeated so far the season, while have been stuggling lately, running third in the Bundesliga. The teams have played each other twice before, each picking up a victory, and although PSG are the favourites to win tonight, Bayern Munich are not likely to give up without fight, with their manager warning big-spending Paris that their money does not score goals. Kick-off in Paris is at 7.45pm.

Rugby - Cardiff Blues head coach Danny Wilson will leave the team at the end of the season. Wilson joined the Blues two years ago after spells with Bristol, Scarlets, Dragons and Wales. However, the Blues have endured a tough season so far, losing three of their four Pro14 fixtures.

Tennis - Britain's Kyle Edmund has been knocked out of the Chengdu Open in the second round by American Jared Donaldson. The world number 46 was beaten 6-0 1-6 6-4 by 58th-ranked Donaldson.

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