LiFi technology, an abbreviation of Light Fidelity transfer data using light from LED bulb. It will enable users to download 23 DVDs in one second
France
French Government Green Signals EDF To Go Ahead With Hinkley Point C Power Project
EDF has been witnessing a stretched balance sheet mainly due to lower power tariff. The French utility’s CFO has resigned this month protesting go ahead with the Hinkley project citing its indebted status. However, French government has assured of financial bailout for EDF to go ahead with the project considering future business prospect.
Reshaping French Telecom Market: Orange, Altice & Iliad To Acquire Bouygues For €10 Billion
Bouygues SA is probably going to be acquired through a multi lateral deal. Though the deal appears for €10 Billion in total, Altice will have to pay €4 Billion. The rest deal amount will be paid by Orange SA, SFR and Illiad SA.
Altice FY15 adjusted EBITDA rises 17.6% helped by Portugal, France and US units
Altice reported a rise in 2015 adjusted profit as sales improved in its France business division. The company expects to report another profitable year in 2016 by focusing more on its core businesses.
French Court Verdicts In Favor of Uber’s Geo-Localization Service
A European Union rule requires prior notification to itself in restricting social information service. The rule also bars targeting a specific service. A French court has overturned a government order on Uber’s geo-localization service citing the two grounds. The verdict appears as a victory for Uber while challenging through a flurry of appeals both in France and at the EU level.
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Crédit Agricole SA has been widely criticized for its complex cross-shareholding between listed entity and cooperative parent banks. Finally it has announced plans for simplification of its capital structure. The French Green bank has also announced dividend of €0.60 per share while recording €882 million in net profit.
Michelin posted an increase of 19% in its earnings for the year 2015 helped by low raw material costs and its restructuring activities in Europe. The company also expects strong demand for its tires in 2016.
Along with reporting its fourth quarter performance, France telecommunication company Orange SA also report the acquisition plan. The company needs more weeks to have approval from antitrust authorities.
AXA SA has partnered with Africa Internet Group to become the sole supplier of insurance products in Africa. The transaction will promote AXA's business strategy and help the French insurer to serve the African society.
Venture capital and private equity that sprung from California Bay Area in 1960's has been a global phenomenon. A Canadian reseach institute publish a report about venture capital investment in tech startups around the world.
HMRC has been conducting multiyear investigation to unearth Google’s tax dodging events. Though denied earlier, a Google spokesperson has narrated a deal with the Britain’s tax authority to pay taxes of £130 million due for over a decade. The deal is significant since many countries around the globe are conducting scrutiny to ascertain dodged tax amounts of Google and other multinationals. Investigations in accordance with OECD guidelines may also help France to establish its claim for $1 billion as unpaid taxes.
The French foie gras industry is forced to pause production of the delicacy until all farms are cleaned and disinfected. The new safety measures come from the discovery of the H5N1 virus found in a farm in southwest France.
Paris-based music streaming service Deezer has raised around $109 million in a Series E round of funding led by Access Industries. The latest funding will help the company to attract more subscribers even after putting their IPO plan on halt.
The AC power cables linked to Microsoft’s Surface Pro tablets of selective three generations pose fire risks due to overheating. Though a limited number of overheating issues have been reported, Microsoft is taking no risks and going to recall for a global voluntary replacement. Details on replacement procedure will be furnished in the Microsoft website sometimes later this week, possibly on Friday.
