Evening Update Monday 27 June 2022

Mayor of Nice and President of the Nice Cote d'Azur Metropolis Christian Estrosi has recommended the wearing of masks on public transport. Speaking at a meeting of the council of the Metropolis this morning, he said that there is an epidemic situation in France which is affected by the various Omicron variants. He added that the number of cases could be "25 times higher" than the official figures and the increase in hospitalizations shows a deterioration for 2 to 3 weeks.

The French state has been ordered to pay damages to two motorway companies as a result of yellow vest protestors blocking toll booths. The decision by a court in Rouen in northern France relates to demonstrations in late 2018 and early 2019. The court ordered the payment of a total of almost 585,000 euros to the two companies. It said that demonstrations had led to "operations allowing users to borrow the highway without paying the toll".

French truck drivers are taking industrial action today. They are demanding higher pay not only for drivers but others involved in freight logistics. Amongst places affected by the strike this morning, truckers reportedly blockaded an industrial zone in Miramas in the Bouches-du-Rhone.

Monaco has a new ambassador to Germany. His Excellency Mr Lorenzo RAVANO presented his Letters of Credence to His Excellency Mr Frank-Walter STEINMEIER, President of the Federal Republic, during a ceremony held at the Château de Bellevue in Berlin. Amongst other matters, the President and the Ambassador discussed their desire to strengthen bilateral relations and cooperation between the two countries, in the diplomatic, economic and cultural fields.

 

BUSINESS

Accounting and consultancy firm KPMG has said that it expects UK GDP growth to more than halve this year to 3.2%, before slowing further to 0.7% in 2023. It said that the cost of living crisis and the rising tax burden have led to a fall in consumer confidence which is set to drag on discretionary spending and business investment is expected to be particularly weak next year without any further government support. In its UK Economic Outlook Report the firm said that the UK labour market is very tight and businesses continue to experience difficulties in finding staff but also increasing difficulty to pass on costs.

Profits at Chinese manufcturers fell by 6.5% in May compared to the same month last year according to official government figures. Production has been hit by the Chinese government's strict Covid-19 lockdown policies. However, the fall was less than the 8.5% recorded in April

 

SPORT

Cricket... England have defeated New Zealand by seven wickets on the final day of the Test at Headingley. Rain delayed the start until 12