France asks airlines to cut flights at Paris airports by 40% ahead of planned strike
The agency said it had also requested that airlines cut by half flights into and out of Nice and by 30% at the airports for Lyon, Marseille, Montpellier, Ajaccio, Bastia, Calvi and Figari. (Reporting by Makini Brice)
Reuters
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a day ago
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Parisians rushed for a dip in the Seine on Saturday as authorities opened the river to public swimming for the first time since 1923 after an extensive clean-up operation spurred on by it being used last year as a venue in the Paris Olympics. Three sites along the banks of the Seine in the city will be able to welcome over 1,000 swimmers daily until August 31, local officials said, to the delight of the Parisians and visitors who were among the first to take the plunge. The reopening of the Seine for public swimming follows efforts by authorities to improve its water quality so it could be used for Olympic events last summer. A few dozen people of all ages arrived ahead of the 8am (0600 GMT) opening of the Bras Marie swimming zone—one of three open in Paris this summer—donning swim caps and goggles as they prepared to dive in and celebrate the long-awaited return of bathing in the Seine. "I thought it would be freezing cold but it's actually great," said Karine, 51, a care worker from southeast of Paris, and one of the first to jump in. Parisians and visitors looking to cool off this summer can take the plunge— weather permitting — under the watchful eye of lifeguards in fluorescent yellow T-shirts at the three bathing sites, including one a stone's throw from the Eiffel Tower. The swimming zones are equipped with changing rooms, showers, and beach-style furniture, offering space for 150 to 300 people to relax, lay out their towels, and unwind from the city's hustle and bustle. Paris officials say they have taken several measures to ensure swimmers can safely enjoy the long-anticipated reopening, including daily water pollution testing and implementing a swim test for bathers. But officials reminded swimmers of potential dangers, including strong currents, boat traffic, and an average depth of 3.5 metres (11 feet). To mitigate that risk, lifeguards will assess visitors' swimming abilities before allowing independent access, while a decree issued in late June introduced fines for anyone swimming outside designated areas. Ahead of the Olympic Games, authorities invested approximately 1.4 billion euros ($1.6 billion) to improve the Seine's water quality. Since then, work carried out upstream promises even better water quality. On rainy days, the mid-19th-century Parisian sewage system often overflows, causing rain and waste waters to pour into the river. Flags will inform bathers about pollution levels in the water every day, and if it rains, the sites will likely close the day after, said Paris city official Pierre Rabadan. The opening comes after the French capital during the week endured a major heatwave that saw Paris put on the weather agency's highest alert level during a Europe-wide heatwave.
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Euro zone bond yields fall ahead of Trump's tariff deadline
Euro zone bond yields headed for their largest weekly fall in a month on Friday as investors prepared for several days of uncertainty heading towards U.S. President Donald Trump's July 9 tariff deadline. Germany's 10-year benchmark Bund yield was down 3 basis points (bps) at 2.549%, having risen to an almost six-week high on Wednesday of 2.632% when UK gilt yields jumped due to renewed concerns over fiscal sustainability. Bond yields move inversely with prices. Bunds were set for a weekly decline of 4 basis points, the largest since the week of May 26, according to LSEG data. Britain's 10-year gilt yield was down 1.6 bps on Friday at 4.525%, having risen as high as 4.681% on Wednesday. Wednesday's sharp collapse in British government bond prices was sparked by a U-turn on planned government cuts to welfare spending and a tearful appearance by finance minister Rachel Reeves in parliament. Euro zone bonds had slipped in tandem with their British counterparts, led by those countries with their own shaky public finances, such as France and Italy. Those bond markets were also recovering on Friday. France's 10-year yield was down 1.8 bps at 3.26% while Italy's was down 2.5 bps at 3.456%. The spread between Italian and German 10-year yields stood at about 90 bps. U.S. bond markets were closed for the Independence Day holiday. Markets were turning their attention to next week's tariff deadline, with the 90-day pause that Trump activated following the market chaos unleashed in April set to expire on July 9. Germany's 10-year Bund yield had its narrowest monthly trading range since 2021 in June, Commerzbank said earlier this week, as calm returned to markets during the tariff pause. "The market is waiting to see what happens with the tariffs in the United States," Birgit Henseler, senior analyst at DZ Bank, said. Henseler added that there could be increased volatility in the next week as details emerge about Trump's plans for import tariffs with the United States' major trading partners. Focus this week has also been on the European Central Bank's annual forum in Sintra, Portugal, with policymakers strongly hinting at a pause to the rate cutting cycle later this month after 200 bps of easing in just over a year. Futures are pricing in just 1.5 bps of ECB easing in July, implying about a 5% chance of a rate cut. By December, markets are pricing in about 28 bps of easing, implying just one more rate cut by the end of the year. "Absent a catalyst like a further escalation in the trade war ... a sharp front-end repricing is unlikely," Barclays rates strategist Rohan Khanna said in a note. Germany's two-year yield, which is sensitive to changes in European Central Bank policy expectations, was last down 3.5 bps at 1.805%, but remained well within its recent narrow range. (Reporting by Samuel Indyk and Amanda Cooper Editing by Alexandra Hudson, Andrew Heavens and Frances Kerry)
