Saturday , May 19 2018
Breaking News


Former French budget minister Cahuzac sentenced to two years in prison


Former budget minister Jérôme Cahuzac was sentenced Tuesday to four years in prison, two of them suspended, for tax fraud and money laundering. The Paris Court of Appeal also fined him €300,000 and banned him for running for office for five years. Cahuzac, a cosmetic surgeon by trade who was made budget minister under former president Francois Hollande in 2012-13, ... Read More »

Year-long pay squeeze comes to an end


Canada : Wages rose at an annual rate of 2.9% in the three months to March, faster than inflation for the first time in more than a year, official figures show. Over the same three-month period, the inflation rate was 2.7%. Inflation started to overtake wages in February last year, squeezing incomes. The Office for National Statistics (ONS) also said ... Read More »

KLM CEO says unrealistic Dutch business could leave Air France


The head of Air France-KLM’s (AIRF.PA) Dutch subsidiary rejected as unrealistic suggestions that KLM could somehow abandon the partnership with Air France following a series of costly strikes at the French business. Pieter Elbers said KLM had benefited from the increased scale of the joint company, created in 2004, and the two businesses needed each other. “Just as it’s not ... Read More »

Air France KLM shares rebound as higher load factor helps offset weaker traffic figures


PARIS : Air France KLM (AIRF.PA) shares rose sharply on Friday, recovering from six previous days of losses, as traders and fund managers said that an increase in its load factor had helped offset overall weak traffic figures for April. Air France KLM shares were up 6.3 percent at 7.52 euros (6.6 pounds) in late-session trading, although the stock remains ... Read More »

French economy minister Le Maire says Air France ‘will disappear’ unless crisis stops


France’s economy minister Bruno Le Maire said Sunday that Air France employees must resume dialogue with bosses and restart efforts to improve the company’s competitiveness, otherwise the airline “will disappear”. “I appeal to the sense of responsibility of everyone involved: flight crew, ground staff, the pilots asking for unjustified pay increases,” he said on French TV news channel BFMTV. “Take ... Read More »

How train services in France will be hit by Tuesday’s strike

(FILES) In this file photo taken on April 3, 2018 commuters stand in a crowded train at Gare de Lyon railway station Paris, as French rail workers launched their latest two-day strike over plans to overhaul the national state-owned railway company SNCF.
French rail workers will begin on May 3 and May 4, 2018, their two-day strike over planned reforms. / AFP PHOTO / CHRISTOPHE SIMON

French : rail authorities have announced that only a few TGV and Intercite services will be running on Tuesday May 8th. The SNCF announced that three out of every five TGV train services will be operational and three out of every 10 Intercite trains. The eighth rail strike since April will also see TER regional train services slashed in half ... Read More »

France to invest €1.5 billion in artificial intelligence by 2022


France: France will invest €1.5 billion ($1.85 billion) into artificial intelligence (AI) research and development up to 2022, the Élysée Palace presidency announced on Thursday. French President Emmanuel Macron will announce his new AI strategy at the Paris-based Collège de France research institute later on Thursday. Macron has said he does not want France to “miss the AI train” as ... Read More »

France cuts cryptocurrency capital gains tax in half


PARIS: France could be warming up to cryptocurrencies. The digital currency has been considered by the country’s tax officials to be “commercial and industrial property” since 2014 and, as such, administered a capital gains tax of 45% on its sale. After a fair amount of backlash and continued community support, that amount has now been lowered to a flat rate ... Read More »

France Lowers Investment Gains Tax On Cryptocurrency To 19 Percent

PARIS: Trying to incentivize investments in cryptocurrency, France has slashed its cryptocurrency income tax rate on capital gains from 45 percent to a flat 19 percent. The French Council of State has changed the classification of cryptocurrency capital gains to achieve the new rates. France’s Council of State was a key to the cuts. It said that cryptocurrency profits are considered “moveable ... Read More »

Air France pilots announce new strike dates in May


PARIS: The announcement of the new industrial action on 3, 4, 7 and 8 May follows 11 previous days of strikes, called by unions representing pilots, cabin crew and ground staff. “We must continue to keep up the pressure for our wage demands,” three unions said in a statement, arguing that their objectives were to “sign an agreement that is ... Read More »

France’s train standoff through of striking worker


PARIS: French train mechanic Jonathan Seigneur says President Emmanuel Macron has it all wrong.Seigneur fixes trains for a modest salary that he accepted in exchange for job security, a tradeoff made by workers across the world’s fifth-biggest economy. And now he is on strike, along with thousands of others at national railway SNCF, to protest Macron’s changes to the rail ... Read More »

French Tax Laws Affecting U.S. Citizens And Trusts


PARIS: France doesn’t have trust laws; a trust can’t be created under French law. However, French residents, including U.S. citizens residing in France, may create trusts under U.S. law or be beneficiaries of U.S. trusts. At one time, it was unclear how France would tax its residents who were settlors or beneficiaries of trusts. As of 2011, it became all ... Read More »

France to send reinforcements to Italy border after protests


PARIS: Far-right groups and pro-migrant activists have turned the mountain passes by the border, which are used by migrants travelling from Italy to France, into a stage for “provocations” and “posturing”, Gerard Collomb said. “Faced with these unacceptable actions,” the minister, whose controversial immigration law was adopted Sunday by the National Assembly, said “significant police and gendarme reinforcements” would be ... Read More »

France rejects vain and pointless trade fight with China


PARIS: France criticised Washington’s trade tactics today, demanding Europe be permanently exempt from US steel tariffs, while refusing to be drawn into a “vain and pointless” trade fight with China. “We will not be satisfied with a provisional exemption,” French Economy Minister Bruno Le Maire said on the sidelines of the spring meetings of the World Bank and International Monetary Fund. “The increased tariffs cannot weigh like a sword of Damocles on trade relations among states,” he said, warning that France would not ... Read More »

France’s oil major getting ready for an electric future


PARIS: France’s oil major is stepping up its power business, replicating the strategy of European peers as the global shift toward cleaner energy gathers pace. Total SA agreed to buy Paris-based utility Direct Energie, adding 2.6 million electricity and gas customers in France and Belgium. The deal puts Total in a stronger position to lure households away from market leaders ... Read More »

2018 Tax Deadlines For Foreign Companies In France


PARIS: French regulation and administration is notoriously complex. And while President Emmanuel Macron’s reforms are now underway, the country still ranks as the 6th most complex in the world for accounting and tax compliance. Regardless of the status of their French operations, it’s crucial for foreign companies to understand their local tax obligations and ensure they meet their filing deadlines.he contribution on ... Read More »

France’s Macron warns Europe against authoritarianism


PARIS: French President Emmanuel Macron warned Europe on Tuesday against the temptations of “authoritarianism” both around the world and inside the European Union itself. In his first speech to the European Parliament, Macron warned that there was a “sort of European civil war”, adding that “there is a fascination with the illiberal and it’s growing all the time.” “I don’t ... Read More »

First shipment of rabbit disease vaccine arrives in B.C. from France


PARIS: The first batch of vaccine to protect domestic and feral rabbits from a disease that has devastated some communities in British Columbia is now available for owners and veterinarians. The B.C. Ministry of Agriculture announced Monday the vaccine for rabbit hemorrhagic disease has arrived from Europe and will be handed out to the 50 veterinary clinics that requested the ... Read More »

French rail strike squeezes grain exporters


PARIS: Rail strikes in France are disrupting the end of the grain marketing year in the EU’s largest crop producer, leaving exporters scrambling for backup transport and fearing lost shipments if stoppages persist. Three months of on-off strikes launched last week by unions, in protest against a planned government reform of national rail company SNCF, have crippled train services on ... Read More »

French rail strike squeezes grain exporters processors


PARIS: Rail strikes in France are disrupting the end of the grain marketing year in the EU’s largest crop producer, leaving exporters scrambling for backup transport and fearing lost shipments if stoppages persist. Three months of on-off strikes launched last week by unions, in protest against a planned government reform of national rail company SNCF, have crippled train services on ... Read More »