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France Injects USD 8.8 billion in Electric Car Industry

27May By PriyankaNo Comments

Automobile

France Injects USD 8.8 billion in Electric Car Industry

Paris, May 27 (AP): France is injecting more than USD 8.8 billion to save the country's car industry from huge losses wrought by virus lockdowns, and wants to use the crisis to make France the No. 1 producer of electric vehicles in Europe. Starting next week, consumers can get up to 12,000 euros from the government for buying an electric car under the “historic” plan unveiled Tuesday by French President Emmanuel Macron. “Our country wouldn't be the same without its great brands Renault, Peugeot, Citroen,” Macron said, decrying an “unprecedented crisis” for the industry that has seen production plunge more than 90 percent in France alone. Carmakers and governments around the world are grappling with similar losses. Politicians are divided over whether and how to bail out an industr...

14May By PriyankaNo Comments

ANALYSIS

How Coronavirus Hit Jobs Globally

Since the pandemic hit, claims for unemployment benefits have soared in some countries notably the US and by far less in others, for example, Japan. According to the UN’s International Labour Organization, as job losses escalate, nearly half of the global workforce at risk of losing livelihoods. As a result of the economic crisis created by the pandemic, almost 1.6 billion informal economy workers (representing the most vulnerable in the labour market), out of a worldwide total of two billion and a global workforce of 3.3 billion, have suffered massive damage to their capacity to earn a living. This is due to lockdown measures and/or because they work in the hardest-hit sectors. The first month of the crisis is estimated to have resulted in a drop of 60 per cent in the income of i...

French Rental Platform raises $3.3 million

20Jun By NitishNo Comments

FUNDING

French Rental Platform raises $3.3 million

PARIS, France: The apartment rental platform dedicated to business travelers, MagicStay.com raises $3.3 million series A to pursue its development. The total funding raised by Magicstone so far is $9 million since its launch in 2013. "This fundraising will allow us to recruit talent to accelerate our growth. We want to sign a quarter of the major French companies and approach one million homes before the end of the year, thanks to the exclusive technologies we now have at our disposal", says Valéry Linÿer, CEO and co-founder. "We have four main advantages over our competitors, we meet the challenges of duty of care, we are able to customize our tool to meet the constraints of each large company for short and long stays, we have 24/7 customer service with quality processes and trav...

France Hits Google with 50 million euro Data consent fine

22Jan By AdityaNo Comments

News

France Hits Google with 50 million euro Data consent fine

France's data watchdog announced a fine of 50 million euros (USD 57 million) for US search giant Google, using the EU's strict General Data Protection Regulation (GDPR) for the first time. Google was handed the record fine from the CNIL regulator for failing to provide transparent and easily accessible information on its data consent policies, a statement said. The CNIL said Google made it too difficult for users to understand and manage preferences on how their personal information is used, in particular with regards to targeted advertising. "People expect high standards of transparency and control from us. We're deeply committed to meeting those expectations and the consent requirements of the GDPR," a Google spokesperson said in a statement. "We're studying the decision to d...

Amazon Partners Apple to Sell New Devices in India & other markets

10Nov By Gauri SinghNo Comments

BUSINESS

Amazon Partners Apple to Sell New Devices in India & other markets

Amazon has struck a deal with Apple to directly start selling more Apple products in India and other markets like United States, United Kingdom, France, Germany and Japan among others. In the coming weeks, Amazon will start offering the latest editions of Apple's iPhone, iPad and other devices like Beats headphones in these markets. The online retail giant will however not offer Apple's HomePod smart speaker, that directly competes with Amazon Echo. CNET was first to report this deal. "We're working with Amazon to improve the experience for Apple customers on their site and we look forward to those customers having another great way to buy iPhone, iPad, Apple Watch, Mac and more," Apple said in a statement. Apple had earlier struck a deal with Amazon rival Flipkart and Infibeam to...

TCS Establishes New Delivery Centre In Paris

20Jun By Gauri SinghNo Comments

BUSINESS

TCS Establishes New Delivery Centre In Paris

The Indian multinational IT company Tata Consultancy Services (TCS) announced on Monday that it has set up a new delivery centre in Suresnes, France that can accommodate up to 230 employees. Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to the global business. It is a subsidiary of the Tata Group and has its headquarter in Mumbai. TCS is among the most valuable IT services brands globally. This centre is the third such unit of TCS in France which is situated in the Parisian region. The first two are in Lille which was opened in 2012 and Poitiers opened in 2014. The new centre consists of a highly secure connectivity, a robust infrastructure and secure spaces. However, the company did not disclose the investment ...

France Becomes The First Country In The World To Ban Oil & Gas Production

20Dec By RishabhNo Comments

INSPIRATIONAL

France Becomes The First Country In The World To Ban Oil & Gas Production

The parliament of France has approved to pass a law to ban all exploration and production of oil and natural gas by the year 2040 within the country and its overseas territories. Under that law that passed a final vote on Tuesday, the permits of existing drills will not be renewed and no new exploration licenses will be granted. The French government claims the ban is a world first. However, it is largely symbolic since oil and gas produced in France accounts for just 1% of domestic consumption. The rest is imported. Environment Minister Nicolas Hulot says the law shows "current generations can take care of future generations." The ban is part of a larger plan to wean the French economy from fossil fuels and to fulfill France's commitments under the Paris climate agreement to cur...