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French and Riviera News Friday 29th June 2018

Local

Airport expansion - The Airports Company of the French Riviera has announced the launch of the expansion of Terminal 2 at Nice International Airport. The project will reportedly see an increase in the capacity of the infrastructure to 18 million passengers a year. In 2017, 13.3 million travelers passed through the Nice International airport.

Prison - Proposals for a new prison on the Cote d’Azur have been put forward by the French government. Nicole Belloubet, a government minister visiting Nice on Thursday, announced that a new prison was being considered in La Trinite, close to Drap.  The prison would apparently be in addition to another new prison, on the banks of the Var river, which was announced in January.

Private beaches - It’s been a rather bad start to the season for the region’s private beaches following bad weather and restrictions from authorities as reports today suggest that further restrictions are to come into force for several beaches in Nice. The measure could see 80 fewer sunbeds per establishment resulting in a thousand less along the sea front in Nice. Businesses have already seen their maximum occupancy rate of 30%  dropped to 20% for natural beaches and 50% instead of 75% for artificial beaches.

Le Bon Coin - A sixty year old from Cannes has managed to retrieve part of his savings after accidently selling a piece of furniture on Le Bon Coin containing 180,000 euros. Police are investigating after reports that the dresser which was sold on the website mistakenly included a briefcase forgotten by the sixty year old. 138,000 euros has so far been found.

National

Lafarge – French cement giant Lafarge has been placed under formal investigation for complicity in crimes against humanity and financing a terrorist enterprise in Syria. Lafarge is suspected of paying nearly €13 million in murky deals to the Islamic State (IS) group. The allegations are some of the most serious ever made against a French company. Lafarge, immediately rejected the charges, saying they were not a fair reflection of its responsibilities.

Business

Senior sources in the City of London say that Tata Steel and ThyssenKrupp are close to agreeing terms on a merger that would create Europe’s second largest steelmaker.

Reports suggest that the deal,which has been under discussion for more than a year,could be completed in the next few days.

It would see Tata Steel’s UK plants merged into a pan-European operation with annual sales of around 13 billion pounds.

ThyssenKrupp has been facing shareholder pressure to secure better terms from Tata.

Recently the New York based hedge fund Elliot Management wrote to Thyssen’s board saying that Tata’a recent financial results did not merit it receiving a half-share in the combined business.

 

A report by Reuters says that three line managers at the Tesla plant in California have said that the firm is not producing enough Model 3’s per shift to reach the 5,000 per week target that Elon Musk said would be achieved by tomorrow.

Telsa is running two 12 hour shifts per day every day this week in a bid to increase production to Mr Musk’s target.

Sources in the assembly plant have told Reuters that it’s likely that the total number of Model 3’s produced will fall well short.

Tesla has declined to comment.

Mr Musk has been attempting to propel the new Model 3 into the mainstream with a price tag of some 35,000 dollars but problems on the assembly line have seen Tesla struggle repeatedly  to meet production targets.

 

And-The US division of Deutsche Bank has failed the second round of the Federal Reserve’s annual stress tests which are designed to assess how well the banking sector could withstand another financial crisis.

The Fed said that the German lender suffered from “widespread and critical deficiencies” in parts of its business.

Goldman Sachs and Morgan Stanley were only given conditional passes but 31 of the 35 banks tested passed.

Sport

Football-The final Group games have been played at the World Cup with England losing 1-0 to Belgium and Tunisia beating Panama 2-1 in Group G.
In Group H Japan lost 1-0 to Poland and Colombia beat Senegal 1-0.

The results mean that England finish second in the Group and will play Colombia in the last 16 while Belgium will play Japan.


There are no games today so those who don’t like football will be able to grab control of the TV remote before the knockout phase starts tomorrow with France against Argentina and Uruguay against Portugal.

Formula 1-First practice for Sunday’s Austrian Grand Prix takes place at 11am this morning with Lewis Hamilton seeking to extend his lead at the top of the drivers’ championship.
Second practice is at 3pm this afternoon with qualifying at 3pm tomorrow and the race at 3.10 on Sunday.

Rugby Union-The Glasgow lock Tim Swinson will miss Scotland’s autumn internationals after being ruled out for 6 months with a serious knee injury.
Swinson was forced off early during Scotland’s Test win over Argentina and has since undergone surgery.
Last year,he was out for 4 months with a hand injury.

Golf-Bradley Dredge of Wales holds a one shot lead heading into the second round of the French Open at Le Golf National.
Dredge recovered from a poor start to fire a first round four-under-par 67.
Graeme McDowell of Northern Ireland and Andrew Sullivan of England are on two under.

Weather

Fine in coastal areas –possible showers inland later and light variable winds.

Top temperatures 26-28 degrees.

Overnight lows of 20 degrees on the coast and 18 degrees inland with clear skies.

The weekend-Mainly fine with highs of 27 on the coast and 31 inland.

 

 

 

 

 

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