A coordinated global set of rules for cryptocurrencies is to be proposed by global regulators. The International Organization of Securities Commissions (IOSCO) will introduce the rules, which will govern the burgeoning cryptoasset industry. IOSCO members, which includes regulators from Germany, the UK, Japan and France, as well as the US Securities and Exchange Commission, will use the proposals to help provide a unified approach across borders for digital assets. The announcement has been welcomed by cryptoasset businesses, who argue that a lack of harmony has created uncertainty in the industry.
French authorities seek 2.5 bln euros from banks in tax fraud case
Reuters
23-05-16 17:35
The French government is seeking €2.5bn ($2.75bn) in back taxes from several banks over their alleged part in tax-avoidance schemes linked to dividend payments, according to French Budget Minister Gabriel Attal. The demand relates to alleged fraud between 2017 and 2019. Attal did not name the banks involved. In March, French authorities searched the offices of five banks, including BNP Paribas, Société Générale and HSBC, relating to the investigation. Similar probes have taken place elsewhere in Europe.
Riad Salameh, the central bank governor of Lebanon, has been issued with an arrest warrant in Paris after he failed to appear in France for questioning on corruption and money laundering allegations. He and his brother are being investigated in at least five European countries amid claims they illicitly enriched themselves and laundered hundreds of millions of dollars of public funds. The 72-year old is also under investigation in Lebanon but continues to command the support of many of the country’s political leaders. His term as governor of the Banque du Liban ends in July.
An arrest warrant may be issued for Lebanon’s central bank governor, Riad Salameh, as European investigators in France, Germany, and Luxembourg launch a corruption investigation into allegations of money laundering, fraud and illicit enrichment during his incumbency. Tuesday’s hearing was scheduled in Paris to include questions about the governor’s Lebanese central bank assets, investments outside Lebanon, and brokerage firm Forry Associates, which is suspected of brokering eurobonds and treasury bonds with a commission going to bank accounts abroad. Salameh has denied the accusations against him. His term ends in July, but political wrangling over successors is underway.
Australian tennis player Nick Kyrgios could be fit for the grass-court season, after he missed the 2019 Australian Open and hasn't played a match this season due to a cyst on his left knee. Kyrgios had planned to return to the court at the French Open for the first time since 2017, but is still working his way back to full fitness. It is understood he is expected to take part in the BOSS OPEN in Stuttgart from June 12. Last year he had his best season, reaching the Wimbledon final.
French director Maïwenn Le Besco, known simply as Maïwenn, is generating controversy even before her latest film, Jeanne du Barry, premieres at Cannes. Reports suggest Maïwenn cut much of star Johnny Depp's dialogue during filming, while she herself hit the headlines in March after allegedly assaulting Edwy Plenel, editor-in-chief of Mediapart, by spitting in his face in a restaurant. Plenel is suing her for damages. Maïwenn then confirmed on chat show Quotidien that she did assault him, before declining to discuss the issue in more detail. In an interview with Premiere magazine she suggested she and Depp often clashed.
Maïwenn began acting as a child, and started a relationship with famed French director and producer Luc Besson when she was just 15. He repeatedly said the relationship between Jean Reno's hitman and Natalie Portman's schoolgirl in his 1994 film Léon was based on his romance with Maïwenn, who has also described the movie's "love story between a 12-year-old girl and a 30-year-old man" as "very much inspired by ours". Despite their eventual separation, Maïwenn remains friends with Besson, leading to speculation her assault on Plenel was due to articles Mediapart ran about rape claims made against Besson, none of which were ever substantiated.
Maïwenn has achieved critical success as a filmmaker, but is seen as a controversial figure in France due to her views. Not only has she criticised feminists as "women who do not like men", but she has also been scathing about proponents of the #MeToo movement. "Now, me, if I agree to go to a man's room at 1am, I suspect that it is not to talk about a role,” she told Paris Match.
Johnny Depp has made his comeback to the big screen in new film Jeanne Du Barry, about France's low-born courtesan who became embroiled in scandal because of her passionate liaison with King Louis XV. However, the bizarre marketing of the new film has fuelled speculation about Depp's future. His French co-star, Maïwenn, takes centre stage on the posters, with the typically poor reviews of Jeanne du Barry pointing towards Depp's performance as part of the problem. The Pirates of the Caribbean star has seen his career sag in the wake of allegations of domestic abuse from ex-wife Amber Heard. While Depp was vindicated in a separate case, which saw him win $10m, the bad publicity has left Hollywood wary of welcoming him back.
Former Apple engineer Weibao Wang has been charged with stealing information on self-driving car technology. The US Department of Justice alleges he took thousands of files while working on the project, in addition to working for a US subsidiary of a Chinese vehicle-maker that was developing autonomous driving vehicles. Officers found large quantities of documents taken from Apple when they searched his California home in 2018. If found guilty, Wang faces up to 10 years in prison for each of six counts filed against him. The charges are the result of a new task force focused preventing foreign governments from stealing US technology.
French first lady’s relative assaulted after Macron commits to retirement age increase
The Toronto Star
23-05-16 19:03
Brigitte Macron, the wife of French President Macron, has issued a rare statement in which she condemned the recent physical assault on her great-nephew Jeannot Trogneuxin, who was attacked on Monday night while the city of Amiens protested against her husband’s controversial pension reforms. Trogneux runs his family's chocolate shop in Amiens and was reportedly heading to his apartment above the shop when he was attacked. Police said that eight people have been arrested in connection with the assault.
Australian designer Gail Sorronda brought her goth-inspired fashion to the Australian Fashion Week runway in Sydney last week. For 18 years, Sorronda has cultivated a following in Milan and Tokyo, an effort now directed toward the Australian market. The designer's gothcore style, showcased in her Resort 2024 collection In Dreams, features black pinafores, strict shirting and romantic gowns. The collection was inspired by her sleep paralysis and is drawn from earlier collections, including An Angel At My Table, which she showed at her last fashion week eight years ago. Sorronda told The Guardian her collections represent how her mind works.
Spurs win NBA draft lottery, earning right to draft generational prospect Wembanyama
CBC
23-05-17 00:49
The San Antonio Spurs, who had a 14% chance of getting the top pick in the US National Basketball Association's (NBA's) draft lottery, have won it and plan to make 19-year-old Frenchman Victor Wembanyama the overall No. 1 selection. The 7-foot-3 player owns the shooting touch of a wing, the height of a centre and the passing ability of a point guard, according to experts. This year, the Spurs were tied for the second-worst NBA record and are known for developing international talent including Tim Duncan, Manu Ginobili and Tony Parker.
Montreal composer Alexandra Stréliski released her third album, "Neo-Romance", after the success of her instrumental album "Inscape" in 2018. The new album consists of 14 wordless melodies that the composer described as an organic version of herself as improvising on the piano and playing her moods is the most natural thing to do. Stréliski stated her aim was to express feelings through universal language to connect with different types of people and build bridges between people through art. Stréliski was once part of the ad agency industry in which she was composing scores for numerous clients and suppressing her own internal compositional desires. However, after filmmaker Jean-Marc Vallée played Stréliski's music during the 86th Annual Academy Awards for his Oscar-nominated "Dallas Buyers Club", which won Best Actor and Best Supporting Actor, he turned to use her music on other projects such as 2018's "Sharp Objects". Vallée's use of her music for his art was a strong validation for Stréliski, which led to her pursuing her avenue as an artist in her own right.
Boxing, which was banned in Somalia under the military government of the late 1970s and was only reintroduced in 2018 after a hiatus of 40 years, is helping to provide some of the country’s youth with a means of escape from its many problems. One member of the country’s only boxing club in the capital, Mogadishu, said the sport offered respite from “negative temptations and uncertainty”. The Somali Boxing Federation dates from 1935, but the sport was banned because a boxer died during a bout. Young boxers from the club are eyeing Olympic representation.
Travellers can plan ahead to ensure they avoid days of closure at museums and other tourist hotspots, or they can relax and vary their schedules to find different attractions. Many US cities close museums on Mondays, while Parisian institutions usually shut on Tuesdays, but other offerings are available. Muslims don't find Friday closures dull; many gather in restaurants and malls, but there are still botanical gardens and many outdoor spaces to be discovered. Hotel concierges or online guides can offer travel advice.
US antitrust tsars Lina Khan and Jonathan Kanter are scaring corporate executives with their willingness to sue to block deals that promote rampant consolidation, according to the FT. The Federal Trade Commission’s recent decision to file a lawsuit to block Amgen's $28.3bn acquisition of Horizon Therapeutics surprised many in the industry. So far, mergers challenged or blocked by the duo (with the help of friendly regulators in the UK and EU) include Microsoft’s $75bn acquisition of gaming company Activision Blizzard, Lockheed Martin’s planned $4.4bn acquisition of US missile products supplier Aerojet Rocketdyne, and the $2.2bn merger of Penguin Random House and Simon & Schuster. The duo have said they will try to sue to block deals even if they know they might lose. Vince McMahon, the founder of World Wrestling Entertainment, relied on merchant bank Raine Group for strategic advice and its help in selling his company. Raine will earn $65m from the $21bn transaction.
China is attempting to persuade both sides of the Ukraine conflict to resume negotiations, casting itself as a neutral and helpful global leader. This move comes as China becomes increasingly pessimistic it can prevent the deteriorating US-China relations. While Beijing wishes to preserve its relationship with Russia, it fears that its position viewed as pro-Russia will poison its reputation in Europe, further harming its security environment. As a result, China has attempted to be neutral and offer its good offices to bring both sides to the negotiating table.
The Ukrainian conflict presents complicated challenges for China, potentially strengthening US alliances in Europe and beyond. As a result, Beijing has begun to offer its good offices to resolve the crisis, articulating a vision for global security and becoming more involved diplomatically. China aims to position itself as neutral and limit its support for Russia, even as it prioritizes its partnership with its closest strategic partner.
Recent remarks by the Chinese ambassador to France that the status of Crimea depends on how the problem is perceived provoked widespread condemnation, and 80 European lawmakers urged the French government to expel the ambassador. The Chinese government tried to downplay the situation, stating that the ambassador was only expressing his personal views. China is likely to do just enough to cast itself as a helpful and responsible global leader but not enough to be held accountable for achieving an end to the Ukraine conflict on terms that would be fair and acceptable to both sides.
The San Antonio Spurs have secured the number one pick in next month’s NBA draft and are expected to use it to take 19-year-old French prodigy Victor Wembanyama. The Spurs finished the regular season bottom of the Western Conference with a 22-60 record, but have been granted the coveted first pick in the draft. Wembanyama is widely seen as the standout talent in this year’s rookie group and now looks certain to begin his professional career with legendary Spurs coach Gregg Popovich. The 221cm Metropolitans 92 player has been called a “generational talent” and compared to NBA superstar LeBron James, who has said that Wembanyama is less a “unicorn” and “more like an alien”. The lottery-based system used to allocate the picks saw the Spurs, the Houston Rockets and the Detroit Pistons all entering the draw with the same 14% chance of winning the number one pick.
Stéphane Boujnah has been reappointed as Euronext's CEO for another four years. Boujnah, formerly of Santander and Deutsche Bank, joined Euronext in 2015 and has overseen takeovers of various European exchanges, including the Dublin stock exchange, Borsa Italiana, and the Oslo stock exchange. He has promised to boost the group's growth with acquisitions in sectors such as forex, data, power and funds distribution but declined to mention any specific firms. Analysist Ian White said Euronext needed to strike a deal this year to show growth, with the exchange's shares performing badly against its peers over the past 15 to 16 months.
Former French President Nicolas Sarkozy has lost his appeal against a conviction for taking part in a scheme to bribe a judge. The appeals court of Paris confirmed a 2021 decision and sentenced Sarkozy to a one-year prison term for charges of corruption and influence peddling. The former president and his lawyers will seek to overturn the ruling and will file an appeal to France's highest court, the Cour de cassation. Sarkozy has also faced accusations of wrongdoing by prosecutors in several other cases since his presidency ended in 2012, including illegal campaign funding and seeking an illegal donation from Libya.
The world will likely temporarily exceed its agreed-upon 1.5C warming limit due to a temporary burst of heat from El Nino, says a new report from the World Meteorological Organization (WMO). While scientists warned in a 2018 United Nations report that exceeding 1.5C would be "drastically and dangerously different," this will not happen permanently via the predicted short-term increase. The WMO, which worked with 11 climate science centres globally, calculated a 66% chance of the temporary exceedance before 2025, an increase from 48% last year.
