Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

EDF shares down after France re-brands restructuring plan

EDF shares down after France re-brands restructuring plan

PARIS (Reuters) – Shares in EDF fell on Friday after France’s Finance Minister Bruno Le Maire was quoted as saying he was ditching the “Project Hercules” name of a planned restructuring of the power group that has been criticised by powerful trade unions.

Le Maire was quoted as saying by the Ouest-France newspaper in an interview that he was telling trade union representatives with whom he was discussing the restructuring: “Let’s forget Project Hercules”.

“Let’s build a big EDF together,” he was quoted as saying in the interview. “This ambitious project will take account of their proposals,” he said, referring to trade unions.

A spokesman for Le Maire’s ministry said the name was the only part of the project that was being dropped, while talks were continuing on the restructuring itself, in consultation with unions and the European Commission.

Shares in the company fell by 4.5% when trading opened, but later regained some ground and were down 3.4% at 0725 GMT.

Project Hercules was conceived by the French government as a way to secure the future of EDF’s debt-laden and capital-hungry nuclear arm, while allowing more lucrative parts of the business to flourish free from the broader group’s liabilities.

The plan is to nationalise a holding company which will include the nuclear assets. A separate entity, controlled by the holding company, will be created to house the more lucrative businesses.

(Reporting by Christian Lowe and Gwenaelle Barzic; editing by Emelia Sithole-Matarise)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post