France Financial News

BJP on Thursday accused Lok Sabha's Leader of Opposition Rahul Gandhi of colluding with 'anti-India international forces'. The ruling party questioned him on a Mediapart (French outlet) report about news portal Organised Crime and Corruption Reporting Project (OCCRP). Speaking in the Rajya Sabha, BJP's Sudhanshu Trivedi said: «Is it a mere coincidence that when Parliament is on such reports ((harmful to India)) come out? The report on Indian farmers came out on February 3, 2021 and budget session began on January 29, 2021; Pegasus report came out on July 18, 20221, and monsoon session began on 19 July, 2021; then again budget session began on January 31, 2023, and the Hindenburg report had come out on January 24, 2023; the BBC report 'India: the Modi Question' also came out on January 17, 2023.» He also quoted Mediapart's report that certain foreign powers are funding OCCRP, which also focuses on India and has association with billionaire investor George Soros. In the Lok Sabha, BJP's Nishikant Dubey alleged that protests in Parliament were being held at the behest of some global outfits.

During Zero Hour in the Rajya Sabha, BJP MP Sudhanshu Trivedi rose to speak on the topic: “Concern over suspicious and conspicuous attacks on national interest from abroad” and made remarks that had the Opposition up in protest, leading to adjournment of the Upper House. “I would like to draw the attention of the House to a very serious, important and worrisome issue. Since India has emerged as a strong power under Modi, some activities of foreign powers have been noticed in which they are attacking the economic, social, and moral values of the country,” Trivedi said.

Bitcoin has hit its highest value ever as early results suggest Republican nominee Donald Trump might be on course to win the 2024 US presidential election.

European Commission President Ursula von der Leyen has arrived in Uruguay for the final stages in years-long negotiations to clinch a trade deal between the 27-nation EU and the South American Mercosur trade bloc that would create a trans-Atlantic mark...

According to Bloomberg, the French asset manager has been holding intermittent discussions with Allianz Global Investors (AllianzGI) for months about a potential deal. Possible actions include a full takeover by Amundi, or a possible combination with AGI, with Allianz retaining a sizeable stake. There is a prospect of an agreement being reached before Amundi's annual results on 4 February next year, but there are no guarantees the talks will lead to a deal. Both firms are being helped by advisers as they are looking into different asset management transactions, according to Bloombe...

Global shares have advanced, taking their cues from another Wall Street record rally, while bitcoin edged away from its record high

Rajya Sabha on Thursday witnessed uproarious scenes in the morning when BJP MP Sudhanshu Trivedi alleged attacks by foreign forces on India's national interests and demanded a thorough probe besides asking all MPs to discuss the serious issue. Speaking on 'Concerns over Suspicious and Conspicuous Attacks on National Interest from Abroad' during Zero Hour, Trivedi cited instances during the past three years wherein issues concerning India were raised by international entities just before or during Parliament sessions. He cited examples of the Hindenburg report, Covid vaccine report and one on Indian farmers, a BBC documentary, Pegasus issue and a video on violence against women in Manipur during the past three years. He also cited the recent report on the indictment of an Indian business house by a US attorney just ahead of the Winter Session. «Ever since India is emerging as a strategic, economic and diplomatic power, it has been seen that in the last three years there have been attempts to attack India's established systems and interests on economic and social fronts through activities from abroad,» he said.

The single currency was fetching $1.0514, trading in tight ranges in early Asian hours but was close to the two-year low of $1.03315 it touched at the end of November as traders brace for a long-winded reckoning for France.

euro rose marginally against the U.S. dollar on Wednesday, but came off session highs, after a widely expected collapse of the French government following a no-confidence vote by opposition lawmakers. The greenback, on the other hand, was little changed overall, as the December interest rate cut chances remained on track amid signs that the American economy was slowing.

Far-right and left-wing lawmakers joined forces to back a no-confidence motion against Prime Minister Michel Barnier, with a majority 331 votes in support of the motion. Barnier now has to tender his resignation and that of his government to President Emmanuel Macron, making his minority government's three-month tenure the shortest lived in France's Fifth Republic beginning in 1958. He is expected to do so on Thursday morning, French media reported.

Marine Le Pen displayed the influence she wields on France by toppling the government but she is also facing a trial that risks banishing her from politics for good. Le Pen, who took over the far-right mantle from her father Jean-Marie, has over the last decade sought to turn her National Rally (RN) party into an electable force, even if critics still accuse it of being inherently racist. The work of «dediabolisation» («de-demonisation») bore fruit in the snap legislative polls this summer, with the RN emerging as the largest single party in the National Assembly, although without the outright majority it had targeted.

global stocks hit a record with Jerome Powell’s bullish comments that supported risk assets. Currency traders remained on alert as the French government fell after a no-confidence vote. Shares in Japan and Australia rose, while equity futures in Hong Kong were slightly lower. US equity futures were little changed after Wednesday advances for the S&P 500 and tech-heavy Nasdaq 100 nudged a gauge of global stocks to a new high.

Gold prices were steady on Wednesday as safe-haven demand countered a slight recovery in the U.S. dollar while markets await U.S. jobs data and comments from Federal Reserve Chair Jerome Powell for clues on the U.S. central bank's policy outlook, as per a Reuters report. Spot gold was steady at $2,644.48 an ounce by 1100 (GMT). U.S. gold futures were down 0.1 per cent at $2,666.30, Reuters reported. The dollar index reflected strength that makes dollar-priced bullion costlier for buyers with other currencies.

Subscribe to enjoy similar stories. The global economy is set to grow at slightly a faster pace next year as inflation continues to cool, but could falter if tariffs rise and governments fail to narrow wide budget deficits, the Organization for Economic Cooperation and Development said Wednesday. In a quarterly report, the Paris-based research body said it now expects the world economy to grow by 3.3% next year, a pickup from the 3.2% rate of expansion it estimates for this year.

From Donald Trump’s promises of a national Bitcoin stockpile to Kamala Harris’ support of a regulatory framework for digital assets, the two US presidential hopefuls have different stances on the future of crypto. 

Subscribe to enjoy similar stories. ABOUT A YEAR before Notre Dame was set to reopen after a devastating fire, the French general tasked with overseeing the cathedral’s reconstruction, Jean-Louis Georgelin, disappeared. Georgelin, a strapping 74-year-old who had once served as President Jacques Chirac’s military chief of staff, was taking a break in the summer to trek through the Pyrénées.

open on Wednesday as investors braced for a crucial no-confidence vote by French lawmakers that will likely oust Prime Minister Michel Barnier's government. The pan-European STOXX 600 index was up 0.1% at 0810 GMT, on track for its fifth straight session of gains, after closing at a one-month high on Tuesday, with Germany's DAX rising 0.5%. France's CAC 40 was up 0.05%.

Subscribe to enjoy similar stories. NATIONAL CLIMATE policies are a relatively recent invention. In 1997, according to the Grantham Institute, a think-tank at the London School of Economics, there were 60; by 2022 the number had risen to almost 3,000.

Ajay Bagga, Market Expert, says he is expecting cryptos and gold to go up. There will be a flight to safety. Both the yen and the dollar will get bought into. In US treasuries, one can expect the yields to go down. Today we saw French yields reaching the Greece yield levels. We are seeing China borrowing at cheaper rates than Japan. We are expecting the Bank of Japan to come in and raise rates at its next meeting in the next fortnight. Following the political developments in South Korea and martial laws being put in place and then revoked, the Samsung stock is under heavy selling pressure. How do you expect global investors to react in the short term? Could this spark a broader risk aversion in emerging markets? Ajay Bagga: The Korean exchange has said they will function as normal. The party leader of the president has opposed this on a Facebook post and the defence minister has called for the military. So, we really do not know what is happening right now. It actually came out of the blue. There have been political wranglings on the budget and this is a minority government which would not survive a floor test. So, overall, it is a very big surprise and I am sure the allies of South Korea from Japan to Europe are working on the back channels to see how this situation can be diffused. It is not a dictatorial country. It is a very strong democracy standing up to its communist neighbours. So, it is very critical that democracy is protected.

Pernod Ricard concluded that top executives at its India business violated the law by colluding with alcohol retailers in New Delhi, according to a document seen by Reuters, even as the French giant's representatives denied wrongdoing in court and publicly. PRI told Reuters in January and February 2023 that it «strongly» denies the Enforcement Directorate allegations, calling them «factually incorrect.» As recently as Sept. 4, lawyers for Benoy Babu, a PRI executive named in Shardul Amarchand Mangaldas's report, asked the Delhi High Court to quash the case against him. They said allegations against Babu, who was briefly jailed pending trial last year, were «false and baseless», and authorities were relying on «hearsay evidence». The court has yet to rule on Babu's non-public filing, which was seen by Reuters. He didn't respond to questions from the news agency.

Lionel Messi and Cristiano Ronaldo are still popular and respected by their fellow players even though they no longer play for European clubs. The 37-year-old Messi and 39-year-old Ronaldo were the only players not with clubs in Europe to be voted on a 26-man shortlist for the world team of the year organized by global players' union FIFPRO on Monday. The other 24 nominees played in the past year with clubs in England, Germany, Spain and France, though Kylian Mbappe was the only French connection after spending last season at Paris Saint-Germain.