Macron's very un-French business revolution

Emmanuel Macron – pictured at the World Economic Forum in Davos, Switzerland, in January – promised in 2017 to revolutionise French business. (Image: Bloomberg)

Bloomberg

Sat, 27 Apr 2024

By Lionel Laurent Is French capitalism stuck in a rut? Higher interest rates have battered the high-debt empires of Altice billionaire Patrick Drahi and retail tycoon Jean-Charles Naouri. The ever-present state, after nationalising utility Électricité de France, has taken a golden share in struggling IT firm Atos. The likes of Bernard Arnault’s LVMH still straddle the globe, but billionaire wealth looks increasingly tied to inheritance than to entrepreneurial chutzpah.So much for the revolution promised by Presiden...

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