
New flights announced to south-west France
The low-cost airline Volotea
has announced
two new routes from Bordeaux's Mérignac airport.
From November 2025, the Spanish carrier will run twice-weekly flights to Agadir, Morocco (on Tuesdays and Saturdays) and Prague, Czechia (on Wednesdays and Sundays).
The announcement is the latest in a series of new departures announced from Bordeaux as the airport moves to fill the gaps in the schedule left by Ryanair's departure last year.
The Irish budget airline pulled out of Bordeaux in October 2024 in an argument about airport fees.
At the time, the airport's head of routes development, Cyrielle Clement,
told The Local
that they were in talks with other airlines to fill the gap, and expected that the airport will recover from Ryanair's loss "within two years".
Since then, several other companies including easyJet have announced new routes from Bordeaux.
READ ALSO
The new flights to and from France in 2025

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


France 24
2 hours ago
- France 24
Spain economy minister urges fair, balanced EU-US tariff deal
"There is still a long way to go to reach an agreement, but there remains the will to do so," Cuerpo told AFP in an interview on Thursday. His comments came on the sidelines of a trip to Houston, Texas, as he sought to reassure Spanish businesses rattled by US President Donald Trump's wide-ranging tariffs. Trump has slapped a 10 percent tariff on almost all trading partners including the European Union since returning to the presidency in January. He also threatened to impose heftier duties of 50 percent on the bloc, although pausing the higher rate until July 9. For now, Trump's existing tariffs, including 25 percent US duties on imported automobiles and 50 percent levies on steel and aluminum, are affecting European companies, Cuerpo said. Pressure is mounting as July approaches. US Commerce Secretary Howard Lutnick told CNBC this week that an EU deal will likely be among the last that Washington completes, even as he remained optimistic that both sides would reach this goal. Arriving at a deal by July 9 would be ideal as it signals "certainty and confidence," Cuerpo said. He maintained that things are "progressing," stressing that "there is unanimity among the 27 member states to reach a fair and balanced agreement." No 'overreaction' He added that while Europe has prepared a response package to Trump's tariffs, Brussels is holding off implementation so that it cannot be "interpreted as an escalation in this tariff conflict." It is critical that the EU gives a "very clear signal" that it wants to strike a deal with the Trump administration, he said. "The fundamental thing is to avoid any element of overreaction," he added. Besides the EU, higher US tariffs on goods from dozens of economies including Japan and India are also due to take effect in July. Trump has taken an especially harsh stance on China as Beijing pushed back on US levies, with both sides engaging in an escalating tariffs war that has only been temporarily rolled back. The Spanish minister expects Trump's tariffs to have limited effect on his country's economic growth this year, given its smaller exposure to the US market. But he warned that certain sectors like olive oil and wine are at higher risk as more of such exports head to the United States. In the interim, Cuerpo noted the importance too of the Mercosur agreement, a trade deal between the European Union and four South American nations including Brazil. Asked if a new global trade order is emerging, Cuerpo said: "This feeling is widely shared." "We are witnessing a rebalancing of these trade relations at the international level and what nobody knows is what's the new point we will reach," he added.


Euronews
2 hours ago
- Euronews
French lender BPCE to buy Portugal's Novo Banco in major merger deal
In the latest of a series of cross-border merger dramas, France's BPCE is acquiring a 75% stake in Portugal's Novo Banco from US private equity firm Lone Star. The offer values the lender at €6.4bn, making the deal one of Europe's largest banking transactions in recent years. It also reflects a recent wave of consolidation interest within the sector. The transaction is expected to close in the first half of 2026, subject to the necessary approvals from regulators and shareholders. 'This transaction enhances our ability to serve Portuguese families and businesses, deepens our commitment to the national economy, and secures a long-term future built on strength, trust, and shared ambition,' said Novo Banco's CEO Mark Bourke in a regulatory filing. Novo Banco was established in 2014 by the Portuguese central bank as the "good bank" carved out from the collapsed Banco Espírito Santo. BES was one of Portugal's oldest and most prominent lenders before its failure during the eurozone financial crisis. In 2017, after over two years of failed attempts by the Portuguese government to privatize Novo Banco, Lone Star acquired a 75% stake by injecting €1bn in capital. The remaining 25% remained under the control of the Portuguese resolution fund and the state, as is still the case today. The years following the acquisition were complicated for Lone Star. Novo Banco dealt with hefty legacy losses from bad loans, which jeopardised the lender's financial position. But in 2021, the bank turned a corner by posting its first profits. Since then, the lender has built itself up as a major player in the Portuguese financial scene. According to Novo Banco's first quarter earnings report, the lender held €43.72bn in net assets and posted a return on tangible equity of 21.7%. BPCE has already initiated conversations with Portuguese authorities regarding the possible purchase of the remaining 25% stake, meaning the deal could eventually evolve into full ownership. For now, however, the French bank is still diversifying its geographic footprint by entering a second core retail market in Europe. It also increases its exposure to variable rate loans, which are more common in Portugal than in France. A competing offer had been considered from Spain's CaixaBank, which already owns Portuguese lender BPI, but the Portuguese government had doubts about increasing Spanish influence in its domestic banking sector. The deal between BPCE and Lone Star comes in the context of a broader trend of cross-border banking mergers. After years of subdued merger activity following the 2008 financial crisis, institutions like UniCredit, BBVA, and Italy's MPS are actively pursuing expansion strategies. At the same time, governments are gradually stepping back from previously nationalised banks, opening the door for more private ownership. Examples of this include UniCredit's stake building in Germany's Commerzbank, with ownership now nearing 30%, and its partial ownership of Greece's Alpha Bank (20%), along with BNP Paribas' acquisition of AXA Investment Managers. An ongoing merger saga is also unfolding in Spain, where the country's second-largest bank, BBVA, has launched a hostile public offer to acquire its rival Banco Sabadell. Workers in Europe have been gradually putting in fewer hours. Over the past 10 years, the average time spent working per week has declined by one hour in the EU. In nearly half of 34 European countries, the drop was even greater — more than one hour between 2014 and 2024. Weekly working hours also vary significantly across the continent. So, in which European countries do people spend the most time at the grindstone? How has actual working time changed across the region? And what could be the possible reasons behind this decline? According to Eurostat, in 2024, the actual weekly working hours for both full-time and part-time workers aged 20 to 64 in their main job ranged from 32.1 hours in the Netherlands to 39.8 hours in Greece. When including EU candidate countries, EFTA members, and the UK, the highest figure was recorded in Turkey (43.1), where average weekly working time exceeded 43 hours. People in Southern and Eastern European countries tend to work longer hours, with particularly high figures in EU candidate countries. Following Turkey, which tops the list at 43.1 hours, are Serbia (41.3) and Bosnia and Herzegovina (41.1). Montenegro hasn't reported data for 2024, although its working hours came to 42.8 in 2020. The next countries in the ranking also belong to the same region: Greece (39.8) and Bulgaria (39). North Macedonia, which only has data spanning up to 2020, also recorded a weekly working total of 39 hours. These countries generally have lower wages, higher informal employment, and less part-time work. Western and Northern European countries generally have shorter work weeks. Countries like the Netherlands (32.1), Norway (33.7), and Austria and Denmark (33.9) all report significantly fewer weekly working hours. These regions are characterized by strong labour protections, higher productivity, and widespread use of part-time and flexible work arrangements. Among Europe's largest economies, the UK and Spain (both at 36.4 hours) and Italy (36.1) report the highest average working times, all above the EU average. However, the UK data dates back to 2019, so the actual figure may be lower today, given the overall downward trend in working hours. When comparing weekly working hours in 2014 and 2024, only four out of 34 countries saw an increase. In three of these countries, the rise was minimal: Lithuania and Cyprus (both by 12 minutes), and Malta (6 minutes). Serbia was the exception, with a significant increase of 1.7 hours — 1 hour 42 minutes. Weekly working time remained unchanged in France, while the decrease was less than half an hour in Italy, Sweden, and Latvia. In 16 out of 34 countries, weekly working time fell by more than one hour — exceeding two hours in some cases. Iceland (3.5 hours) closely followed Turkey (3.8 hours) at the top. Belgium and Luxembourg also recorded significant declines, with a reduction of 2.5 hours each in weekly working time. In a further seven countries, weekly working hours declined by 1.5 hours or more. These include Denmark and Austria (both 1.9), Germany (1.8), Estonia (1.7), Czechia (1.6), and Portugal and Croatia (1.5). Scholars and experts have been examining the reasons behind the decline in weekly working hours, offering various explanations. A recent working paper published by the European Commission analysed work time trends in six EU countries between 1992 and 2022. Sergio Torrejón Pérez and his colleagues found that: Decline in working time is primarily linked to the growing prevalence of non-standard forms of work, mainly part-time work. Part-time jobs have grown mostly because more women are working and because more jobs are in service industries. Full-time workers are working more or less the same amount of hours as in the 1980s. Self-employed people are working fewer hours over time because more of them are working part-time. Even so, they are still working the longest hours on average. A paper published by the European Central Bank analysed working time in the euro area from 1995 to 2020. Vasco Botelho and his colleagues emphasised that the decline in hours contributed per worker is a long-term trend. One reason is that technological progress over the past 150 years has transformed the nature of work. They found that other key factors include the rising share of part-time employment, and the increase in female labour force participation, which is also closely linked to the growth of part-time work. The decline in working time is driven by both demand and supply-side factors, according to the ECB report. Most part-time workers choose this arrangement voluntarily, opting to work fewer hours than full-time employees. In the overall sample, about 10% of workers reported that they would prefer to work more hours than they currently do. Another working paper from the IMF by Diva Astinova and her colleagues also found that declines in actual working hours match declines in desired working hours in Europe. 'Increased income and wealth is likely to be the main force behind the decline in desired and actual hours worked,' they suggested. In other words, researchers proposed that people feel less of a financial pull to put in more hours.


Euronews
a day ago
- Euronews
Irish government rejects motion to stop sale of Israeli bonds
The Irish government on Wednesday defeated a cross-party motion that called on it to stop the Central Bank of Ireland from facilitating the sale of Israeli bonds. The motion, presented by the Social Democrats and supported by Sinn Féin, Labour, and People Before Profit, was intended to block what many refer to as 'Israeli war bonds'. The instruments provide economic support to Israel while it conducts military operations in Gaza, and Ireland's Central Bank currently approves the sale of these bonds in EU markets. Bonds issued by non-EU countries must be approved by the financial regulator in one member state before they can be sold within the single market. The bill failed with 85 votes against and 71 in favour, upholding the government's position. Several TDs, Irish members of parliament, argued that Ireland should not be involved in financial instruments that fund destruction in Gaza. The Central Bank estimated that Israel has raised between €100mn and €130mn from their sale. Taoiseach Micheál Martin nonetheless rejected claims that the Irish government is complicit in genocide by allowing the facilitation of the bond sales. Despite publicly acknowledging the severity of Israel's attacks in Gaza, he maintained that Ireland must oppose the military action within legal and diplomatic channels. As such, the government argued that it cannot legally direct the Central Bank due to its independence under Irish and EU law. When the same objection arose last month in response to a similar motion from Sinn Féin, party leader Mary Lou McDonald argued: 'We have over 20 pages of independent, robust legal opinion clearly stating that the bill is compliant with Irish law, European law and international law.' As per the EU's Prospectus Regulation, non-EU countries like Israel must meet disclosure and legal standards to issue bonds in the bloc. If those standards are met, the Central Bank doesn't have the authority to reject bond applications. 'The Central Bank cannot decide to impose sanctions for breaches or alleged breaches of international law. It is for international bodies such as the UN or the EU to determine how to respond to breaches or alleged breaches of international law,' said Central Bank Governor Gabriel Makhlouf. He added that the Genocide Convention applies to the Irish State, not regulatory bodies like the Central Bank. The reason why the Irish Central Bank is at the core of this issue — despite Ireland being one of the EU countries that has been the most vocally pro-Palestine — is Brexit. When the United Kingdom voted to leave the European Union in 2016, Israel chose Ireland to be the home member state to approve its bonds. Prior to 2021, this responsibility fell to the UK. The current prospectus for Israeli bonds is set to expire in September, but Central Bank officials believe that Israeli authorities will likely initiate the renewal process several weeks beforehand. In the absence of new EU sanctions or changes to existing legislation, the Central Bank will remain legally bound to approve the bond prospectus, regardless of the political fallout. Meanwhile, protesters have been gathering for months outside the seat of the parliament, Leinster House, and the Central Bank, demanding that the government block Israeli bond sales. Britain's economic recovery suffered a setback in April, with gross domestic product (GDP) shrinking by 0.3% on a monthly basis, marking the steepest contraction since October 2023, according to data released by the Office for National Statistics (ONS) on Thursday. The contraction, which exceeded market expectations of a 0.1% fall, has renewed concerns over the UK economy's resilience and intensified pressure on both Downing Street and the Bank of England (BoE)'s policy stance. The April downturn followed a modest 0.2% expansion in March and comes amid a broader backdrop of weakening labour market data and fading consumer momentum. The services sector, which accounts for around 80% of UK economic output, was the primary drag in April, declining by 0.4%. Within services, the professional, scientific and technical activities subsector posted a significant fall of 2.4%. This contraction was driven mainly by a 10.2% plunge in legal activities, attributed in part to the impact of changes to Stamp Duty Land Tax thresholds in England and Northern Ireland. The tax change prompted homebuyers to bring forward purchases to March, resulting in a sharp drop in related services, such as conveyancing and estate agency work, in April. Advertising and market research also contributed negatively to GDP, with output down 3.4%, while growth in scientific research and development (up 6.7%) provided a partial offset. The wholesale and retail trade and repair of motor vehicles and motorcycles subsector also weighed on GDP, declining by 1.2% in April after a 0.9% expansion in March. Production output fell by 0.6% in April, with manufacturing production sliding 0.9% — adding to a 0.8% fall in the previous month. Overall industrial production contracted by 0.6%, coming in weaker than the 0.5% decline expected by analysts. Despite a rebound in construction output, which rose 0.9% month-on-month, it was not enough to counterbalance the broader economic dip. The downturn in GDP comes on the heels of deteriorating labour market data released earlier this week. The number of payrolled employees fell by 109,000 in May, the seventh consecutive monthly decline and the sharpest drop since May 2020. The total stood at 30.2 million, a 0.4% monthly fall. The unemployment rate ticked up to 4.6% in the three months to April, in line with expectations, while wage growth softened. Regular pay excluding bonuses increased by 5.2% year-on-year — the slowest pace in seven months and below the 5.4% forecast. Despite the mounting economic headwinds, the BoE is widely expected to leave interest rates unchanged at 4.25% at its upcoming meeting next week. However, traders have increased their bets on a rate cut in August, anticipating a 0.25 percentage point reduction as the economy shows further signs of cooling. Overall, money markets are currently pricing two interest rate cuts of cumulative 50 basis points by the BoE this year. Sterling came under pressure following the GDP release, with the euro rising to 0.85 pounds — the highest level in over a month during morning trading. UK government bond yields extended their weekly declines. The yield on the two-year gilt fell to 3.90%, the lowest since early May, while the ten-year yield slipped to 4.53%. Equity markets, however, remained broadly resilient. The FTSE 100 held steady around 8,860 points, just shy of Wednesday's all-time high of 8,885. Among the notable movers, Halma plc surged over 8% on the back of strong corporate results. BP also gained 1.8%, buoyed by higher oil prices following the announcement of a trade agreement between the United States and China. On the downside, Intermediate Capital Group and EasyJet dropped 4.1% and 2.6%, respectively.