Alitalia’s Higher Loss Risks Deterring Air France Investment
Air France said Sept. 23 it would await more information from the Italian carriers board before committing to any move. Hiring Advisers The relatively small capital increase being sought suggests the move is only a short or mid-term solution, said Yan Derocle, an analyst at Oddo Securities in Paris. Air France has hired Lazard Ltd. (LAZ) and Mediobanca SpA (MB) as advisers to consider its options on Alitalia, Italy s Messaggero reported this week, without saying where it obtained the information. Alitalia in turn has hired Gruppo Banca Leonardo as seeks to end operating losses in 2014. While owning Alitalia would give Europes largest airline access to one of the regions biggest aviation markets and help feed trans-Atlantic routes, the need for capital comes as Air Frances domestic unit struggles to stem its own losses. The Paris-based carrier last week scrapped a target of reaching break-even at Air France as it sought to cut 2,800 more jobs. Italys Infrastructure and Transport Minister, Maurizio Lupi, met with his French counterpart yesterday to discuss the situation. He has said the government is not against Air France doubling its stake, while seeking guarantees on jobs and investments for the flagship carrier. Falling Traffic The Italian airlines passenger traffic retreated 4 percent to 10.7 million passengers in the first six months, with revenue falling to 1.62 billion euros. Net financial debt for the carrier reached 946 million euros, including 600 million euros for aircraft liabilities, it said. Alitalias board will reconvene on Oct. 3, the airline said.
France against Romania, Bulgaria joining Schengen zone
Philip Roth Photo: REUTERS American-Jewish author Philip Roth was awarded Frances highest honor, the Legion of Honor. French Foreign Minister Laurent Fabius presented the award to Roth on Friday in New York. Related: The award recognizes civilians and soldiers. Roth was granted the title of commander, the French news agency AFP reported. France is giving you back what you have given to my country, Fabius said, according to AFP. Roth, the author of nearly 30 novels, has and won numerous literary prizes. They include two National Book Awards, two National Book Critics Circle Awards, three PEN/Faulkner Awards and the 1997 Pulitzer Prize for fiction. He told a French magazine last year that he was done writing fiction. Send Your comment must be approved by a moderator before being published on JPost.com. Disqus users can post comments automatically. Comments must adhere to our Talkback policy . If you believe that a comment has breached the Talkback policy, please press the flag icon to bring it to the attention of our moderation team. JPost Services Terms Of Service Jpost.com, the online edition of the Jerusalem Post Newspaper – the most read and best-selling English-language newspaper in Israel . For analysis and opinion from Israel, the Jewish World and the Middle East .
Headquarters in New York September 26, 2013. Credit: Reuters/Brendan McDermid PARIS | Mon Sep 30, 2013 4:46am EDT PARIS (Reuters) – France is not in favour of allowing Romania and Bulgaria into Europe’s passport-free Schengen zone for now due to concerns about border security, French Foreign Minister Laurent Fabius said on Monday. “If there is not a change in conditions, we won’t be in favour,” Foreign Minister Laurent Fabius said of a forthcoming European Union decision on whether to grant passport-free movement to these citizens beginning January 1, 2014. His comments came amid fierce debate within France’s ruling coalition over the treatment of the Roma population. Some 20,000 Roma migrants from Romania and Bulgaria live in hundreds of squalid make-shift camps on the outskirts of French cities. Tensions with local communities have made Roma migration a contentious issue ahead of municipal elections next year. Romanian and Bulgarian citizens currently have the right to travel with a passport throughout the Schengen zone, which removes border controls among most EU countries as well as non-members such as Switzerland and Norway. Temporary restrictions that imposed passport checks were put in place when the two countries joined the EU in 2007, and are due to be lifted in January. But each EU country has the right to veto the admission of a member state into the Schengen zone and a vote is expected before the end of the year. Germany said in March that it too opposed the entry of the two countries into the zone. Fabius said France was concerned about the ability of Romanian and Bulgarian authorities to ensure border security. “People coming from outside Europe could enter Romania and Bulgaria and then freely enter the rest of Europe,” Fabius told France Inter radio. “There’s a problem there, we must be sure that Bulgaria and Romania have the means to verify that. “For the moment, it strikes me that those conditions have not been met,” he said. Last week, Interior Minister Manuel Valls caused uproar in the left-wing governing coalition by saying most immigrant Roma could not be integrated into society and should go home.
France says will negotiate on Sunday-trading dispute
“We have inherited a kind of regulatory ‘millefeuille’,” she told Sunday newspaper Journal du Dimanche, referring to a layered French cake and the different trading regulations that apply in various districts. “We will now work with sector professionals to address the question of Sunday trading,” she said. A spokeswoman for the French Prime Minister’s office said that ministers would meet on Monday to discuss the topic, though she declined to comment directly on the government’s position. Despite the apparent flexibility on Sundays, Junior Minister Pinel said he would yield little ground on late-night shopping. Apparently referring to a separate legal ruling on Monday that ordered LVMH-owned (PAR:MC) cosmetics store Sephora to close its Champs Elysees outlet at 9 p.m. (2000 GMT) instead of midnight, she said, “Late-night labour must remain the exception in order to preserve the health and free time of employees.” “Flexibility is possible via employee-management talks but reforming this law is unnecessary… It is always possible to wait till tomorrow to make a purchase,” she said. No one at Leroy Merlin, Castorama or the Elysee Palace of President Francois Hollande was immediately available to comment. (Reporting by Lionel Laurent and Yann Le Guernigou; Editing by Louise Ireland/Ruth Pitchford) @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the “Enter symbol/company” at the bottom of this module. You need to enable your browser cookies to view your most recent quotes. Search for share prices Terms Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges . Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page .