Evening Update Monday 13 February 2023

France’s Minister for Labour has said pension reforms will lead to a pension increase for a quarter of recipients and guarantee a minimum payment of €1,200 a month. However, unions have fought back saying the €1,200 will only apply to people who have a full 42 years of pension contributions. The unions, who are calling for more demonstrations this Thursday, are planning a full walk-out after the mid-term which could bring France to a standstill on March 7th.

Flooding could become a significant issue for homes along the Côte d'Azur as experts warn sea levels are rising at an accelerated rate. They are predicting a rise in temperatures of 2.5 to 5.5 degrees by 2050, and say coastal erosion and marine flooding should be taken very seriously. Since January 1st of this year, a new law is in place where homeowners will have to provide a ‘statement of risks’ when selling their property. That includes the risk of marine submersion in coastal areas.

Almost half of the households in the PACA region, who are entitled to the government's €100 fuel allowance, have yet to claim. The Minister responsible, Bruno le Marie, announced today that he has extended the deadline to claim by one month until the end of March.

In Monaco, the Monegasque Electricity and Gas Company has reported a 10% drop in energy consumption following rising costs and government campaigns to use less. Today, the government has introduced a new regulation where business premises must switch off all lights and signs from 11pm to 6am. The measure is in place until April 30th and applies to all business premises.

Authorities concerned with deteriorating air quality have put restrictions in place across the Bouches-du-Rhône to fight severe air pollution. Measures put in place by the Prefecture include a 20% reduction in speed limits, a warning to avoid intense physical or sports activities and advice to ventilate premises for at least ten minutes a day.

The court in Nice has been hearing the extraordinary case of a lady in her 70s who was conned out of her collection of precious stones, by fraudsters who paid her in fake bank notes. However, after the woman reported the fraud to the police and the perpetrators were caught, it was discovered the stones themselves were fake all along. Regardless, the man accused of the fraud was sentenced to one-year house arrest with electronic surveillance, known in France as "Assignation à Résidence avec Surveillance Électronique" or ARSE for short. (Link)
 

BUSINESS

Nice Cote d’Azur airport is reporting a huge year-on-year jump in traffic. During January, the airport handled 660,000 passengers overall, a jump of 52% in the last year. The vast majority of the increase is coming from a resumption of international travel to and from the Cote d’Azur.

Moody’s has cut its outlook for four Adani group companies, from stable to negative, after rapid declines in market value. The group's stocks have lost about $120 billion in market value, since a Hindenburg Research report three weeks ago, accused it of improper use of offshore tax havens and stock manipulation. The India based multinational denies all the allegations, reassuring investors that its business plans were fully-funded, cashflows strong and it remained confident of delivering attractive returns.

SPORT

Football - After a contentious weekend for VAR video-assisted refereeing, John Brooks has been replaced as the VAR for tonight’s derby match between Liverpool and Everton. It comes after the referee wrongly disallowed a Brighton goal against Crystal Palace. Also at the weekend, a miscall on VAR denied Arsenal a victory against Brentford when an equalising header, which should have been called offside, was cleared by the VAR.

Tonight’s Liverpool derby promises to be an interesting match as Liverpool, who are without a victory in their last four league games, welcome Everton who are facing the threat of relegation.  Kick-off in Anfield is at 9pm.

Also in football, AS Monaco is in buoyant form today after an emphatic victory over Paris St-Germain. The league leaders were sent packing out of Stade Louis II and back to the capital after a bruising 3-1 defeat by the red and whites on Saturday.

Athletics - Jimmy Gressier has beaten his own European 5km record at yesterday’s Monaco Run, finishing the race in a new record time of 13 minutes and 12 seconds. The French runner almost didn’t make it to Monaco, as train strikes on Saturday meant he didn’t arrive into the Principality until after 11pm on Saturday night.

Tennis - Wu Yi-bing became the first Chinese man to win an ATP Tour title, by beating John Isner 6-7 7-6 7-6 at the Dallas Open. The player, who started the match ranking 97th in the world, will now rise to 58th, making him the highest-ranked Chinese player in ATP history.

American Football - Kansas is getting ready for a monster homecoming party, after the City Chiefs won yesterday’s Superbowl final. Despite starting off as the underdogs, the Chiefs put on a brilliant performance, in what was a close and thrilling game, to eventually beat the Philadelphia Eagles 38-35. Another notable highlight came during the half-time show when Rihanna announced during the performance that she is pregnant with her second baby.

Cricket - Former England captain Eoin Morgan has announced his retirement from all forms of cricket. The 36-year-old, who was born in Dublin, stepped down from the international game in June.

Six Nations Rugby - France is still licking its wounds after a 32-19 defeat in Dublin. as Ireland put in one of their best home performances under coach Andy Farrell. In other games at the weekend, England dismantled a disappointing Italy to gain a 31-14 win, while on Saturday Scotland were at their best in a crushing 35-7 bonus-point win over Wales at Murrayfield. Six Nations gets underway again at the end of the month with Ireland v Italy in Rome, Wales play England and France face Scotland at Stade de France in Paris.

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