Latest news with #EricLombard
Reuters
13 hours ago
- Business
- Reuters
France tightens grip on Eutelsat through 1.35 bln-euro shares sale
PARIS, June 19 (Reuters) - The French state will become Eutelsat's ( opens new tab top shareholder following a 1.35 billion-euro ($1.55 billion) capital increase aimed at helping the satellite company better compete with Elon Musk's Starlink, the finance ministry said on Thursday. The capital injection will deliver a shot in the arm to debt-laden Eutelsat, which has garnered unprecedented attention this year from European governments looking for alternatives to compete with Elon Musk's Starlink. France's state shareholding agency will inject 717 million euros, or more than half of the sum, into the company, the ministry said. The agency will also acquire the stake held by France's state-owned investment bank Bpifrance in Eutelsat as part of the company, a government official said, bringing France's total stake to 29.99%. "The French government is proud to support Eutelsat. By participating in its capital increase, we are supporting a decisive stage in its development. Satellite connectivity is a strategic issue for our industrial and digital sovereignty," Finance Minister Eric Lombard said. ($1 = 0.8721 euros)
Bloomberg
10-06-2025
- Business
- Bloomberg
Macron Leans on a Calm Man to Manage France's Budget
Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. French President Emmanuel Macron's grandstanding approach to politics spectacularly backfired a year ago when an election gamble undermined his grip on power. Yet now, in the ministry where Macron began his imperious transformation of France's economy and politics, one man is quietly refashioning the president's project into a humbler, more careful enterprise. Eric Lombard, the soft-spoken 67-year-old who took over the finance and economy department at the end of last year, is deploying tactics honed over decades advising on deals at BNP Paribas. Macron needs Lombard — and his ability to find compromise — to get a budget and about €40 billion of savings through a deeply divided parliament this year, or his government risks collapse.
Bloomberg
10-06-2025
- Business
- Bloomberg
France's Finance Minister Is the Calm Hand Macron Needs Now
In the ministry where Emmanuel Macron began his imperious transformation of France's economy and politics, Eric Lombard is quietly refashioning the president's project into a humbler, more careful enterprise. The soft-spoken 67-year-old, who took over the finance and economy department at the end of last year, is deploying tactics built on compromise rather than ideology, honed over decades advising on deals at BNP Paribas SA and guiding governments through past crises.
The Star
09-06-2025
- Business
- The Star
New ‘Finance Europe' label aims to channel retail savings
French Economy Minister Eric Lombard. — Bloomberg PARIS: A group of European countries is teaming up on a new initiative to help funnel more savings into the continent's economy, as the region tries to accelerate progress on integrating and deepening its capital markets. Officials including French Economy Minister Eric Lombard and his Spanish counterpart Carlos Cuerpo were scheduled to sign an agreement in Paris yesterday for a label called 'Finance Europe' that would apply to certain products targeting retail investors, according to a statement by the French Economy Ministry. The initiative is part of an effort to deepen the region's financial markets, as the European Union tries to break a deadlock in its decade-old plan for a capital markets union. With room for fiscal spending limited in much of Europe, tapping savers is key to help fund the economy and boost the region's competitiveness. France, Spain, Portugal, Germany, Luxembourg, the Netherlands and Estonia are the first countries to join the initiative, which comes against the backdrop of a global trade war that has already fueled capital reallocations. To qualify for the 'Finance Europe' label, investment products must have at least 70% of assets in the European Economic Area, primarily in equities. They must also include an incentive for long-term holding, such as a lock-up period. Each country will decide separately on potential tax incentives for savings products under the new label, which will be distributed by banks, asset managers and insurance companies. Thomas Richter, the head of Germany's asset management lobby BVI, cautioned that products sold under the new label may not be suitable for all retail investors. He also expressed doubt that governments will commit to meaningful tax incentives to promote the products. 'Bringing more people to the capital markets and financing the European economy is a worthy goal,' he wrote by email. 'However, this label cannot be aimed at inexperienced savers, given that it permits investments with low liquidity, among other things. 'It is also unsuitable for retirement provision, as the narrower investment universe leads to lower return opportunities in the long term.' — Bloomberg
Bloomberg
07-06-2025
- Business
- Bloomberg
Macron Says Subsidy for Energy Efficient Homes Should Continue
French President Emmanuel Macron called on his government to continue a home renovation subsidy program after the finance ministry said it would temporarily halt the grants. The program, known as MaPrimeRénov, offers financial support to homeowners to improve the energy efficiency of their homes. Access to the system was frozen when the 2025 budget was delayed after the government collapsed last December, leading to an avalanche of requests when it reopened, Finance Minister Eric Lombard said.
