The Latest Breaking News from Eric Lombard

September S&P 500 E-Mini futures (ESU25) are up +0.47%, and September Nasdaq 100 E-Mini futures (NQU25) are up +0.70% this morning, pointing to a higher open on Wall Street amid optimism over progress in trade negotiations between the U.S. and key partners.

France’s public debt rose again in early 2025, reaching just over €3.35 trillion at the end of the first quarter – 114 percent of GDP – official figures showed on Thursday. The government now says it needs to find another €5 billion in savings to rein in the ballooning deficit.

The public deficit was 5.8% of GDP in 2024 instead of the expected 6%, yet the Minister of the Economy said it was "not good news".

‘We are ready to step up’ says Ursula von der Leyen after US suspends military aid to Ukraine

Bernard Arnault, the billionaire boss of the world's biggest luxury conglomerate LVMH, has picked a fight with the French government by suggesting that companies could flee France for the United States to escape a planned tax hike.

In the midst of fierce debate over the 2025 budget, which has already toppled one government, French Economy Minister Eric Lombard promised there would be no new taxes on individuals. The Senate is set to vote on the budget on Thursday.

The new government of Prime Minister François Bayrou faces a frantic fortnight as it battles to establish its credibility and fend off cross-party attempts to kill it in its infancy.

The new team at the helm of France’s economy will need to begin work immediately on passing a 2025 budget, which has been in limbo since the National Assembly rejected the belt-tightening proposal from former Prime Minister Michel Barnier, which led to the toppling of his government.