Evening Update Tuesday 8 November 2022

A day of national strike action is planned by French unions for this Thursday. There will be no trams running in Nice and street parking will be free of charge. Bus services will be severely disrupted across our region. Unions are protesting at the cost of living and calling for salary increases.

An emergency alert system has been tested in Nice as part of a security exercise this afternoon. The Prefecture said that at 3pm a siren would sound at the CADAM departmental administrative centre. Residents in the area received an alert message on their mobile phone. The prefecture said that no action is required to be taken as the exercise is just a test.

The latest figures released by the Monaco government show that the Covid-19 incidence rate in the Principality has remained virtually unchanged for two weeks. In it's weekly update on Covid numbers, the government said that in the week to last Sunday the incidence rate per 100,000 people was 163. The number was 161 for the previous week. 64 new positive cases of Covid-19 were detected in the week. As of Sunday November 6, 10 people, including 5 residents, were being treated at the Princess Grace hospital. No one was being treated in intensive care. 33 people were being followed by the Home Monitoring Centre.

President Macron has been holding a meeting this afternoon with management from the fifty industrial sites which produce the most CO2 in France outside the energy sector. Discussions have included possible ways to consume less energy while maintaining production.

The president is expected to be in Toulon tomorrow. In a busy schedule he is expected to visit the naval base, award medals at a decorations ceremony and to visit the Suffren nuclear submarine as well as an amphibious helicopter carrier.

 

BUSINESS

Grocery inflation in the UK hit a record 14.7% in October according to a new survey by research company Kantar Worldpanel. It said that prices are rising fastest for items such as margarine, milk and dog food and 27% of households say that they are struggling finacially. It also said that UK discount retailers Aldi and Lidl both separately increased their sales by just over 20% compared to the same month a year ago.

iPhone maker Foxconn has announced that it is increasing its investment in a US electric pick-up truck business. The Taiwanese technology company is spending up to $170m on shares in Lordstown Motors. The major cash injection comes as the company aims to ramp up production of its debut model, the Endurance, which is being produced in a former GM plant in Ohio.

Sportswear manufacturer Adidas has appointed a new CEO. Bjorn Gulden will join the company effective on the first of January.  The 57 year old Norwegian has been CEO of Puma since 2013.