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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    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

    Posted By Jessica Weisman-Pitts

    Posted on October 17, 2022

    Featured image for article about Top Stories

    By Tassilo Hummel and Sudip Kar-Gupta

    PARIS (Reuters) -The time for talking is over, French Finance Minister Bruno Le Maire said on Monday, as the government ordered more fuel depot staff back to work to try to restore petrol supplies that have been disrupted by strikes for weeks.

    The government said it had requisitioned six workers at a TotalEnergies depot in Dunkirk, northern France, and would do the same at its Feyzin depot in the southeast this afternoon.

    The oil company and unions representing a majority of its workers reached a pay deal including a 7% increase and a bonus on Friday, but the company failed to end its dispute with the hardline CGT union, which is demanding a 10% pay rise, citing inflation and huge profits made by the firm.

    “The time for negotiation is over,” Le Maire told BFM TV, adding it was “unacceptable” and “illegitimate” for the CGT to continue walkouts into a fourth week when a deal has been reached.

    A CGT representative said workers had extended their protest on Monday at TotalEnergies’ refineries at Normandie, Donges, La Mede, and Feyzin, as well as the depot in Dunkirk.

    The government has already requisitioned staff elsewhere, a move vehemently opposed by the CGT, which has called on other workers to join its protest.

    But even so, petrol supplies will take some time to get back to normal. Transport Minister Clement Beaune told France Inter radio that petrol stations might still have problems until next week, adding: “We’re still struggling.”

    According to government data, roughly one in three petrol stations has not been supplied normally in the last few days.

    ENERGY STRIKES WIDEN

    As tensions rise in the euro zone’s second-biggest economy amid high inflation, strikes have spilt over into other parts of the energy sector, including at nuclear giant EDF where maintenance work crucial for Europe’s power supply will be delayed.

    A representative of the FNME-CGT union on Monday told Reuters strikes were affecting work at 10 French nuclear power plants, with further maintenance delays at 13 reactors and French power production reduced by a total of 2.2 gigawatts.

    “It is vital for EDF to reach a wage deal with its unions”, Le Maire said on Monday, adding an agreement was needed “as fast as possible.”

    He added the utility, which is in the process of being fully nationalised, was still on track with its plans to carry out nuclear repair works before the winter.

    (Reporting by Tassilo Hummel and Sudip Kar-GuptaAdditional reporting by Forrest Crellin Editing by Sudip Kar-Gupta and Mark Potter)

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