Evening Update Friday 30 September 2022

Inflation in France has fallen slightly this month. French government statistics agency INSEE said that the inflation figure in September compared to a year previously was 5.6%. It said that there was a fall in energy prices but food prices rose.

The ceiling for French restaurant vouchers is rising to 25 euros from 19 euros as from tomorrow. The increase was announced at the beginning of this month as part of the government's support measures to counter the rising cost of living. The vouchers are often given by companies to employees and are redeemable against any type of food product.

Works are beginning on Monday which are likely to impact road access to Monaco at the Principality's eastern border for the next eighteen months. From October 3, the Community of the French Riviera is undertaking major work to modernize the water networks on Avenue Jean Jaurès, in Roquebrune-Cap-Martin. A one way traffic system and diversions are being put in place. More details are available on the Monaco government's website gouv.mc

Christophe Bechu, French Minister of Ecological Transition and Territorial Cohesion, has been in Nice today. Along with Nice Mayor Christian Estrosi he visited construction works at the Parc Saint-Jean d'Angely. They planted the 228th and last tree in the garden, before it's inauguration next November.

 

BUSINESS

European Union Ministers have agreed windfall taxes on certain energy companies as well as mandatory cuts in electricity use. The plan includes a levy on fossil fuel firms' surplus profits and a levy on excess revenues made on electricity. However, EU ministers are divided on whether and how to cap the wholesale price of gas.

UK Prime Minster Liz Truss and Chancellor Kwasi Kwarteng have met the chairman of the Office for Budget Responsibility to discuss the disruption in financial markets after last week's mini-budget. The watchdog had offered to prepare a draft forecast in time for the mini-budget but the offer was not taken up. After this afternoon's meeting the government said that it will not publish the forecast until 23 November when it is due to issue a financial statement.

 

SPORT

Motorsports... Lewis Hamilton was fastest in first practice at the Singapore Grand Prix. Hamilton beat Red Bull's Max Verstappen who was in second, Ferrari's Charles Leclerc was third. This afternoon in second practice Carlos Sainz was fastest, followed by Charles Leclerc and Mercedes driver George Russell.

Football... In the Premier League this weekend, on Saturday Arsenal play Tottenham, it's Bournemouth against Brentford; Crystal Palace are at home to Chelsea. Fulham play Newcastle. Liverpool are at home to Brighton and South