News - Friday, November 25th

Real Estate Prices Rising In Nice

While real estate professionals are seeing a slowdown in the market in most major cities in France, the price per square meter continues to rise in Nice.

From the thousands of transactions recorded during the first six months of the year the average value per square meter was 4,681 euros. That is 1.23% more compared to the previous half-year which itself had already recorded an increase of more than 6% compared to the first half of 2021.

The trend, which is the opposite of that of other French towns, is likely to be due to a shortage of housing on offer in Nice.

 

Major Events Planned For Nice

President Macron has promised Nice some major events over the next few years on the scale of a COP or G20, which is likely to have huge positive repercussions on the local economy.

Christian Estrosi was attending a meeting yesterday where the President was addressing several thousand of France’s mayors.

Among other things, the President spoke about the abolition of the CVAE tax and initiatives to boost the ecological transition.

 

INSEE Population Predictions

According to an INSEE survey published yesterday, the population in our region will peak in 2050 before declining again after that.  Estimates project that the Var would gain 75,000 inhabitants in the next 28 years, but the Alpes-Maritimes only 8,000.

INSEE has also downgraded its growth projections for the French population in 2050, predicting that there would be 69.2 inhabitants in France in 28 years, just 1.6 million more than the start of this year. A previous estimate calculated 5 years ago had estimated that the population would grow to 74 million

INSEE also estimates that in 2050, 30% of inhabitants in France would be aged 65 or over compared to 23% in 2018.

 

French McKinsey investigation widened to cover election campaigns

France’s financial prosecutor has opened an investigation into the role of consultancy groups including McKinsey in the 2017 and 2022 French election races, when Emmanuel Macron was elected and then won a second term

The financial prosecutor’s office confirmed that its current investigation into potential tax fraud by the US-based consultancy giant McKinsey had been widened to include consulting firms’ possible involvement in the two election races. Investigators are looking into allegations of “improperly keeping campaign accounts”, the “undervaluing of the role of consulting firms” and “favouritism”.

 

French Rescue Failure

There's growing evidence that French rescue services failed to respond adequately to a migrant boat that sank in the Channel last November, with at least 33 people on board. Only two of the passengers survived the disaster. 

Transcripts of emergency calls made to the French coastguard suggest that desperate passengers were repeatedly told to call UK emergency services, despite being in French waters when they first requested help.

And a French police investigation, leaked to the newspaper Le Monde, appears to suggest that the French coastguard never sent help to the scene, despite a specific UK request to do so. There’s also new evidence that another migrant boat was passed back and forth between the two nations' rescue centres, just a few days before the Channel disaster.

 

French Abortion Ruling

France has moved a step closer to becoming the first country in the world to enshrine abortion as a constitutional right, after lawmakers approved a resolution in the lower house to guarantee access to “the right to voluntarily end a pregnancy”.

In a rare cross-party move, members of parliament from the left’s La FranceInsoumise party and Emmanuel Macron’s centrist coalition agreed on the wording of a clause that could be added to the constitution. It read: “The law guarantees the effectiveness and equal access to the right to voluntarily end a pregnancy.”

Several parties in France, from the left to centrists, began pushing for abortion rights to be written into the constitution after the US supreme court’s decision in June to overturn the landmark Roe v Wade ruling, which recognised a woman’s constitutional right to an abortion and legalised it nationwide.

In the 557-member national assembly, 337 lawmakers voted for and 32 against, while 18 abstained.

 

State Intervention For Stranded Sailboat

The prefecture has finally found an emergency solution to rid the harbour the abandoned sailboat which has been stranded since last month in the bay of Villefranche.

The operation should begin in December subject to the availability of the nautical and lifting means necessary for its implementation.

 

Ocean Viking Migrants To Leave The Region

All the migrants that arrived in Toulon on the Ocean Biking boat have now left the region. They had been staying in a holiday centre on the presqu’ile de Giens near Hyeres.

In the end only 4 of the 234 migrants were sent home,  considerably less than the 44 announnced by the Gerard Darmanin, the home secretary, last week.

 

Train Cancellations between Nice & Ventimiglia

The SNCF have said that there will be no trains between Nice and Ventimiglia for much of the weekend after next. Work on the tracks at Beaulieu means that all trains along that section of line will be cancelled from Friday 25 November at 8pm until Sunday 27 November at 9am.

The SNCF is not proposing any alternative arrangements, and he 100 bus route from Nice to Menton via Monaco is also disrupted until April 2024. However, you can take the 607 between Nice and Monaco or the 608 to Menton from Monaco. Bus route 25 will take you from Menton to Ventimiglia.

 

Prince Albert II sets example by donating blood

HSH Prince Albert has set an example by donating blood following a general appeal from the Princess Grace Hospital.

The Sovereign appears in the hospital’s latest video and encourages everyone to join him on the #TeamDonneur. The Principality needs 5,000 bags of blood if it is to be self-sufficient and able to treat Monaco’s 800 transfusion patients each year.

 

French bid to ban bullfighting dropped amid 'obstruction' in parliament

A bid to ban bullfighting in France was abandoned yesterday after a bill that would have made the blood sport illegal was withdrawn by the campaigning left-wing lawmaker behind it.

Aymeric Caron from the left-wing party La France insoumise blamed "obstruction" from fellow lawmakers who filed more than 500 amendments to his draft legislation, which prevented a vote in the National Assembly.

 

Laboratory personnel will renew their strike on December 1st

After two months of negotiations on the Social Security budget, yesterday the union representing laboratory staff called for a new "renewable strike" from December 1st, considering that they had received "no concrete response" to their latest proposal.

 

Air France steward wins 10-year fight for dreadlocks

A black Air France steward won a 10-year legal battle yesterday for the right to work with braided hair on flights after a decision by France's highest appeals court.

Aboubakar Toure from Paris sued the airline in 2012 for discrimination after he was barred from flights once he changed his hairstyle to have short dreadlocks tied behind his head.

For several years, he wore a wig before being eventually suspended for not conforming to the company’s uniform rules which allow women, but not men, to have braided hair in the cabin.

 

Female Space Astronaut

The European Space Agency (ESA) unveiled its new class of career astronauts this week, selecting France's Sophie Adenot and four other candidates from a list of more than 22,500 applicants. MmeAdenot becomes France's second woman astronaut after Claudie Haigneré.

 

On the rocky road to enshrining abortion rights in the French constitution

The French lower house National Assembly will vote this month on two rival proposals for enshrining abortion rights in the country’s constitution, one drafted by the hard-left France Unbowed party and the other from President Emmanuel Macron’s Renaissance. However,  even if the votes are successful, there are still many challenges ahead with political divisions and complex parliamentary procedures. The debates will end on November 28th.

 

White March for Laurène

The family of the young Laurene killed in a road accident last year, is organizing a white march.

The tragedy occurred last November 9th on the Grande Corniche in Nice, when a van came crashing into Laurene's scooter head-on. The young Niçoise succumbed to her injuries on November 15.

Those wishing to pay tribute to Laurene, and more broadly to the victims of road violence, are invited to participate in this white march, Sunday November 27 at 1 p.m.

The starting point is set in front of the Corniche Pizza, at 34 boulevard Bischoffsheim.

 

Knocking on doors in Monaco

The Jehovah’s Witnesses could soon be knocking on doors in the Principality having been granted legal rights in Monaco. This legal development comes after two favourable judgments from the Supreme Court of Monaco and a decision from the European Court of Human Rights. The process took just under two years.

 

Louis and Marie Ducruet announce happy news

The Grimaldi family tree is growing! Louis Ducruet, the son of Princess Stéphanie, and his young wife Marie have shared the news that they are expecting a baby sometime in 2023.

After photographs were released of 29-year-old Marie looking noticeably pregnant during Monaco’s National Day on 19th November, the happy couple have announced via Instagram that they are expecting their first child together.

 

SPORT

 

WORLD CUP REPORT

Breel Embolo became the first AS Monaco player to score at the world cup in Qatar, as the Swiss striker scored the only goal in Switzerland’s opening game against Cameroon yesterday. The irony is that the Swiss national was actually born in Cameroon, and Embolo respectfully did not celebrate his goal against his birth country.

Christiano Ronaldo is finally making the headlines for the right reasons, as he became the first ever play to score in 5 different World Cups. A penalty yesterday in the 65th minute put Portugal on the way to a 3-2 win against Ghana. Victory means Portugal top Group H after Uruguay and South Korea played out a goalless draw earlier

Brazil were also in action yesterday. The talk was about Neymar beforehand, but afterwards it was all about Richiarlson who scored both goals in a 2-0 win against Serbia. His second was an  overhead athletic kick that has been described as one of the best ever in world cup history.

 

Neymr appeared to be in tears on the bench at the end of Brazil's opening World Cup win over Serbia after being substituted with a sprained ankle.

Brazil's team doctor confirmed the forward suffered the injury and that it will be reassessed on Friday.

 

Today

England V USA (8pm) Harry Kane is confirmed as fit to play

 

Wales v Iran (11am)

Wales face Iran in a crucial second World Cup match knowing victory would significantly enhance their chances of reaching the second round in Qatar. Captain Gareth Bale become the most-capped Welshman in history assuming he plays today.

 

The Netherlands – Ecudor 5pm

Qatar Senegal 2pm 

 

Rugby Union

In a repeat of the last World Cup Final, England take on South Africa at Twickenham tomorrow. Northampton's Tommy Freeman takes Jack Nowell's place on the wing in one of four changes for England from last week-end’s thrilling draw with New Zealand.

Meanwhile, Ospreys centre Joe Hawkins will make his Wales debut against Australia

 

Basketball

Tonight AS Monaco take on Bayern Munich in the Euro League. The match starts at 7pm this evening at the Gaston Medecin Sports Arena in Fontvieille

 

Peace & Sport Awards Forum in Monaco

While the World Cup continues in Qatar, major stakeholders in Peace-through-Sport will meet in Monaco on November 30 to highlight sport’s contribution to peace

In the presence of His Serene Highness Prince Albert and several other dignitaries, six Awards will be presented, including the ‘Champion for Peace of the Year’ Award. The 2022 nominees comprise twelve organisations, including the Estonian Olympic Committee, the Ford Motor Company Fund, the 4-H Zimbabwe Foundation, Birmingham City Council, and the World Karate Federation.

This year’s Forum will be a hub for key decision-makers, experts, and bright young talents, who will embark on a journey to explore the theme “Sport is an answer for peace.” This 13th Peace and Sport International Forum will be held at the Fairmont Monte Carlo, on November 30 and December 1.

 

BUSINESS

 

Credit Suisse

Credit Suisse  expects to make a heavy loss for the final three months of the year, continuing to bleed billions of francs as wealthy clients turn their back on the embattled Swiss bank.

The bank said that there had been an outflow equivalent to 6% of assets managed by the group at the end of the third quarter. As a result, the bank was forced to dip into liquidity buffers, slipping below certain minimum regulatory requirements although it said its core liquidity and funding requirements had been held.

Credit Suiss  held an extraordinary general meeting earlier this week, winning approval for the capital increase to fund a recovery from the biggest crisis in its 166-year history.

 

Twitter
Twitter has disbanded its entire Brussels office, sparking concerns among EU officials about whether the social media platform will abide by the bloc’s stringent new rules on policing online content. J

The Financial Times reports that key executives who were in charge of Twitter’s digital policy in Europe have left following the company-wide cuts that removed about half of its 7,500-strong workforce.
The Brussels exits are symptomatic of a global trend from India to France where local Twitter executives who had key positions to deal with government officials abruptly left the organisation in recent weeks in the widespread cuts. This has led to growing concern over whether the company has the personnel to ensure compliance with local laws designed to police online content, potentially opening the company up to lawsuits and regulatory action.

 

Tech Upgrades for Electric Cars

Tesla’s “Full Self-Driving” Beta is now available in North America to anyone who’s paid for the feature. The rollout of the beta software kicked off in 2020 with a small number of customers and has since gradually expanded to be available to around 160,000 drivers as of October this year. Getting access to the beta has typically required that drivers hit a minimum safety threshold with Tesla’s built-in Safety Score feature as well as logging 100 miles using the company’s advanced driver-assist feature Autopilot.

Mercedes-Benz is to offer an online subscription service in the US to make its electric cars speed up quicker. For an annual cost of $1,200, the company will enable some of its vehicles to accelerate from 0-60mph a second faster. It comes after rival manufacturer BMW offered a subscription feature earlier this year - for heated seats.

It will be available for purchase in the US on the Mercedes-EQ EQE 350 and EQS 450 vehicles, as well as their SUV counterparts.

 

 

FOREIGN EXCHANGES

€1 = £0,86 $1,04 SF 0,98

£1 = €1,16 $1,21 SF1,14

$1 = €96 cents, £83 pence, 94 Swiss centimes

BITCOIN down slightly $16391

ETHEREUM $1175

 

COMMODITIES

An ounce of gold is $1747

Barrel of Brent Crude oil $88,33

 

MARKETS

FTSE 100 stable 7467

CAC 40 stable 6707

DOW JONES stable 34194

NASDAQ 11285

NIKKEI 28282

 

 

WEATHER

It’s a cloudy start to the day but improvements are expected later, with extendedclearings this afternoon. Winds are light and temperatures will peak at 15° around Monaco. 16° in the Var around St Tropez

Tonight, there’ll be some clouds but clearing later. Overnight lows 5°

We’re expecting plenty of blue skies and sunshine for a Saturday and Sunday.

 

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