Economy

French billionaire Xavier Neel has bought the Lambert Hotel, owned by Qatari Prince Abdullah bin Khalifa Al Thani, for more than 200 million euros ($226 million), according to sources who spoke to Bloomberg.

The deal is one of the largest ever for a private property in Paris, surpassing the €100m Hotel de Soyecourt deal in 2011.

Bloomberg sources said Neil, founder of communications group Iliad SA, is not planning to live in the 43,000-square-foot property and is considering using the property for a cultural institution.

The Lamparte Palace was built in 1640 by Louis Le Vaux, the architect of the royal era, who contributed to the design of the Palace of Versailles.

also reduced French President Emmanuel Macron taxes on the wealthy, and removed one of the biggest obstacles for high-income earners to consider working in France, a move that attracted the interest of the wealthy.

Neil has a fortune of regarding $8.4 billion, according to the Bloomberg Billionaires Index, and he already owns dozens of luxury properties in Paris. He is also a strong investor in startups, having set up the business incubator Station F.

The Lamparte Hotel hosted literary salons attended by Voltaire and Jean-Jacques Rousseau, as well as its ownership by Polish Princess Anna Czartoriska and banker Guy de Rothschild. It was sold in 2007 for more than 60 million euros to Prince Abdullah bin Khalifa Al Thani.

In 2013, the palace was hit by a fire, which forced the owner to undertake a round of important renovations, at a total cost of 130 million euros.

Air Canada announced on Tuesday the expansion of its network in North America with the launch of seven new routes for the summer season.

• Read also: Air Canada reduces its loss to $503 million in the fourth quarter

The air carrier added seven new routes in North America, including three intra-Canada, while it restored 41 other routes, including nine from Montreal, and began its return to 11 North American cities.

Among the seven new summer connections, two flights will depart from Montreal to Atlanta and Detroit at the rate of two daily frequencies, starting June 1, according to the air carrier.

More concretely, Air Canada will serve 51 airports in Canada and 46 in the United States during the summer of 2022, which allows it to restore 90% of its North American capacity before the pandemic.

“Our recovery is accelerating and our North American flight schedule this summer will return to 90% of its pre-pandemic scale,” said Mark Galardo, Senior Vice President – Network Planning and Revenue Management. business, Air Canada.

“These changes will allow us to enhance and solidify our position as the leading carrier in the cross-border market, with the most non-stop flights between Canada and the United States, and as the foreign carrier offering the most services to the United States,” he added.

With Omicron losing ground, Air Canada is also taking the opportunity to enrich its international flight schedule by adding 34 routes for Europe, Asia, Africa and the Middle East.

“Countries are reopening their borders and, around the world, measures are being relaxed for fully vaccinated travellers. Air Canada is picking up its pace and vigour,” Mr. Galardo said as Air Canada resumed flights to popular tourist destinations, such as Barcelona, ​​Budapest, Copenhagen, Madrid, Milan and Venice, which were interrupted at the start of the pandemic in March 2020.

“The reestablishment of international routes takes advantage of Air Canada’s major expansion in the North American market,” the airline said in a statement.

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The inflation bonus is a device put in place by the government. It aims to help the French most affected by the current situation. The general rise in prices is hitting many citizens hard. Fuel and electricity are inevitable expenditure items for many households, which therefore see their purchasing power melt like snow in the sun. Started in December, the payments of this bonus first concerned students and then employees. Retirees should finally receive it by the end of February. In the amount of 100 euros, it is aimed at people below a pension threshold set at 2000 €. About 12 million French retirees are waiting for this bonus. Its payment will be automatic. There is therefore no particular procedure to take to receive it.

Pensioners, an inflation premium expected, but disputed

The inflation bonus will be sent to any retired person meeting the eligibility criteria. Depending on your situation, you will be paid by the pension fund, the CAF (Caisse d’Allocations Familiales), your employer or the fund paying you a disability pension if applicable. This inflation bonus is paid on an individual basis. A household of two retirees will therefore be able to receive €200 if both people meet the allocation criteria. If it is obviously welcome, the measure is far from being welcomed by the French. Many of them question the validity of the threshold set by the state. Faced with the day-to-day challenges created by an overall rise in costs, the premium appears to be somewhat paltry in the eyes of many people. This is also what various politicians point out.