Evening Update Friday 12 May 2023

Todays volatile weather conditions, which include thunderstorms and rain in some parts, have been welcomed, as many parts of the Cote d’Azur struggle to deal with potential drought this summer. The Var, Alpes Maritimes and Bouches-du-Rhône are all on water restrictions, which include a drastic reduction of water withdrawals for farmers, a general ban on watering gardens, operating beach showers or filling swimming pools. Yesterday, Monaco announced it also is to introduce water restrictions from this weekend. This will include a ban on the washing of boats, both private and professional. Monaco’s Minster of State Pierre Dartout said we are now living with the consequences of global warming.

The price of property continues to accelerate on the Cote d’Azur. A new study shows prices increased as much as 20% in Antibes, with Nice and Cannes following behind, with a 10% jump year-on-year. The Riviera is already home to some of France’s most expensive real estate, with five of the most expensive streets in all of France located in Nice. Saint Jean Cap Ferrat tops the list for the most expensive property in the country, where the average apartment price is almost €15,000 per square metre.

A serious internet outage has seen homes between Valbonne and Antibes without any online access for almost three weeks. Orange, who are responsible for maintaining the fibre infrastructure in the area, have assured the Marie in Valbonne, that the cut cable causing the problem, will be fixed by tomorrow.

A woman in her sixties is recovering in Pasteur Hospital in Nice after falling ten metres from the ramparts of Fort Carré in Antibes today. It’s not known if she was attending the Antibes Bridge Festival, which starts today at the fort and has attracted 1,000 players from across Europe.

Business

British tech entrepreneur Mike Lynch has been extradited to the United States to face criminal charges over the $11bn sale of his firm Autonomy to Hewlett-Packard. Once known as ‘Britain's Bill Gates’ Mr Lynch denies charges that he overinflated the value of his company when he sold it to HP in 2011.

Sanctions on Russian diamond exports are being discussed by the world’s most influential financial ministers at the G7 meeting in Japan today. If they proceed, the measure could increase the price, not only of jewellery and luxury goods, but also other significant markets for diamonds which include drilling, dentistry, and computers.

The Turkish lira is facing volatility ahead of this weekend’s elections, with some market watchers predicting a collapse of the currency if President Erdogan is re-elected. His unorthodox economic policies have already contributed to the currency's instability.

Sport

Tennis - The French Open has announced an increase in prize money for this year’s tournament. They said the Men's and Women's Champions will each receive €2.3 million euros out of a total prize fund of €50m.

Novak Djokovic says Carlos Alcaraz is ‘the man to beat on clay’. Both are competing in the Italian Open this week and both are tipped to make the final on Sunday week. If they do, and Alcaraz takes the game, he also knocks Djokovic off the top to become the world's #1 player.

Basketball - Electricity is in the air as AS Monaco prepares for the final showdown weekend of this year's basketball EuroLeague.  On Wednesday they secured their place in the last four, with a semi-final playoff due next Friday against Olympiacos. If they get through that, Monaco are in the grand final which takes place in Lituania on Sunday week May 21st.

Football - In League 1 this weekend, OGC Nice are away to Strasbourg, Paris St German host Ajaccio and Monaco is home on Sunday afternoon against Lille. In the UK Premier League this weekend, top games include Leeds against Newcastle and Aston Villa in a home game against Spurs. On Sunday Everton play leaders Man City and Arsenal host Brighton.

Golf - Henrik Stenson has resigned from the DP World Tour after it imposed further sanctions on players who also compete in LIV Golf events. Earlier this year Sweden's Stenson was removed as captain of Europe's Ryder Cup team when he joined the Saudi-backed LIV event. The former champion said he was left with no choice so he resigned.

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