By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > French businesses start rebuilding after riot ‘nightmare’
News

French businesses start rebuilding after riot ‘nightmare’

News Room
Last updated: 2023/07/04 at 12:26 PM
By News Room
Share
4 Min Read
SHARE

Receive free French society updates

We’ll send you a myFT Daily Digest email rounding up the latest French society news every morning.

France’s government has turned to the task of helping damaged businesses recover as unrest eased following days of protests and rioting after police fatally shot 17-year-old Nahel Merzouk last week.

At least 2,000 businesses have been heavily damaged by rioters, according to early estimates by French employers’ federation Medef. However, the worst of the turmoil appears to be waning after several nights of heavy law enforcement deployment across the country.

“The peak that we experienced in the first evenings has passed,” President Emmanuel Macron said on Tuesday, adding that restoring order was now the “top priority”.

While visiting damaged businesses in the town of Arpajon, about one hour south of Paris, finance minister Bruno Le Maire said on Tuesday that insurance providers had committed to speeding up claims and providing flexibility on filing deadlines and deductibles for affected businesses.

The government would also consider modifying or, in exceptional cases, cancelling taxes and social contributions, he said. 

“I share the feeling of disgust of all the businesspeople I have met, and their feelings of profound sadness and . . . discouragement,” Le Maire said. “When your business has been completely burnt down, and it’s the work of a lifetime that has been reduced to ashes, the state must be on your side.”

Despite the damage to individual businesses, the impact of the unrest on the wider economy would be “negligible”, according to a finance ministry source. 

Arrests in France halved overnight, as protests subsided. A total of 3,486 people have been arrested since the night of June 27, when demonstrators took to the streets to express their outrage after footage went viral of traffic police shooting Merzouk.

Medef estimated the looting and other damage to businesses would cost at least €1bn, a sum expected to rise as more claims are made. More than 200 shops have been looted, 300 bank branches destroyed and 250 tobacco shops affected. At least 25 supermarkets have been burnt down, 15 of which belonged to German grocery chain Aldi alone.

A police deployment of 45,000 per night remained in place overnight, with interior minister Gérald Darmanin pledging that the response to the unrest would remain “firm”. No officers were injured in on Monday night, for the first time since the violence began.

For business owners, however, rebuilding is a daunting prospect. “We just recovered from Covid, we get our heads above water and now we’re right back down again,” said Emmanuelle Duporte, who runs a Citroën garage in Arpajon where more than 30 vehicles were damaged.

“We thought we were in a nightmare . . . We can’t understand it. Why destroy like this, what is the point? This is a life’s work, it’s traumatic.”

Additional reporting by Leila Abboud in Paris

Read the full article here

News Room July 4, 2023 July 4, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
OpenAI CEO Sam Altman reportedly sends out ‘code red’ warning over AI competition

Watch full video on YouTube

How Aldi Became America’s Fastest-Growing Supermarket Chain

Watch full video on YouTube

Strategy CEO talks bitcoin investing strategy amid volatility, buying opportunities

Watch full video on YouTube

Why No Tax On Tips May Be Making America’s Tipping Problem Worse

Watch full video on YouTube

Trump names Tony Blair, Jared Kushner and Marc Rowan to Gaza ‘Board of Peace’

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

- Advertisement -
Ad imageAd image

You Might Also Like

News

Trump names Tony Blair, Jared Kushner and Marc Rowan to Gaza ‘Board of Peace’

By News Room
News

Is the US about to screw SWFs?

By News Room
News

KRE ETF: Stabilization With A CRE Overhang (NYSEARCA:KRE)

By News Room
News

Goldman and Morgan Stanley investment bankers ride dealmaking wave

By News Room
News

AngioDynamics, Inc. (ANGO) Presents at 44th Annual J.P. Morgan Healthcare Conference Transcript

By News Room
News

White House sets tariffs to take 25% cut of Nvidia and AMD sales in China

By News Room
News

AI: Short Circuit? | Seeking Alpha

By News Room
News

Trump says ‘help is on its way’ for Iranian protesters

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?