Evening Update Wednesday 14 September 2022

French Prime Minister Elisabeth Borne has said that the energy tariff shield will be extended into the beginning of next year. She said that gas prices will be limited to an increase of 15% in January and electricity prices to 15% in February. Any increases beyond that will be paid for by the state. She said that the tariff shield would mean that an average household which heats with gas would see an increase of 25 euros per month instead of about 200 euros per month without the shield. An average household which heats with electricity would see an increase of 20 euros per month instead of 180 euros. The Prime Minister added that financial support amounting to 100 or 200 euros depending on income, will be given to the 12 million households in France with the most modest incomes, which will be about four in ten households. Energy Minister Agnès Pannier-Runacher, who was also present at the press conference this afternoon, added that the energy vouchers would also be sent to those heating with fuel oil. The Prime Minister said that there will be no gas or electricity cuts this winter if everyone acts responsibly and "shows the necessary sobriety".

The total area burned in the latest fire in the Gironde department is more than 3,600 hectares, according to an update by the local prefect this lunchtime. Gironde firefighters, supported by reinforcements from neighbouring and other departments, have been working since Monday afternoon on a fire in the Saumos sector in the Médoc. The prefect said that the fire progressed slightly overnight and this morning. The weather conditions remain difficult with the presence of wind, heat and drought. Two new preventive evacuations were decided this afternoon by the authorities in Saint Helena affecting about 500 people. Up to 1,000 firefighters from Gironde and other departments are mobilized today backed up by 6 Canadairs, 3 Dash planes and 2 water bombing helicopters.

The Provence Alpes Cote d'Azur Regional Health Agency has released its latest update on Covid-19 numbers in the region. As at yesterday, 577 people were hospitalized, which is down by 90 on the previous week. 35 people were in intensive care, which is down by 9. There were 32 deaths in the week, bringing the total number of people who have died from Covid-19 in the region to 13,110 since the start of the epidemic.

Today marks the 40th anniversary of the death of Princess Grace of Monaco. The Princess’s contributions to Monaco were considerable, including the idea of establishing an English language radio station, today known as Riviera Radio. The Principality today remembers the enormous contribution the Princess made to life in the Principality. To celebrate the life of Princess Grace, the Monte-Carlo Philharmonic Orchestra will hold a concert tomorrow evening at 8pm at the Rainier III Auditorium and in Nice there are screenings this month of nine Grace Kelly films at the Cinémathèque.

 

BUSINESS

Inflation in the UK declined slightly in August, falling to 9.9% from July's 10.1% according to data released by the Office for National Statistics. However, food prices rose at their fastest pace since 2008.

Inditex, the owner of clothing retailer Zara, has reported profits up by 41% in the six months to the end of July. Revenue for the period also rose, by almost 25%.

Industrial production in the Eurozone fell by 2.3% in July and by 1.6% in the wider EU, compared with June, according to estimates from Eurostat, the statistical office of the European Union. In June, industrial production increased by 1.1% in the euro area and by 1.0% in the EU.

 

SPORT

Football... Spain midfielder Gavi has signed a new contract with Barcelona until 2026, with a 1bn euro release clause. He's been at the club since 2015.

Rugby Union... New Zealand Rugby has lost $280,000 of funding for failing to meet a quota of at least 40% of their board consisting of female officials. It was the only one of 65 major sporting bodies in the country to fail to hit the target set by funding body Sport NZ. New Zealand Rugby board chair Stewart Mitchell said that the loss of funding "will not impact our current work streams", adding that the board had "50% overall diversity".

 

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