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French voters failed to support the parties of Emmanuel Macron and Marine Le Pen in strong numbers during regional elections held over the weekend. Library picture: Election posters and ballot papers from France’s 2017 presidential election. Photo credit: Gerard Bottino / Shutterstock.com 

Macron and Le Pen underperform in French regional elections

French president Emmanuel Macron’s La République En Marche and Marine Le Pen’s far-right National Rally both failed to make gains in elections for 13 regional councils on Sunday. Le Pen blamed poor voter turnout for her party’s lower-than-expected results. Only about a third of French voters cast a ballot. Nationally, the centre-right Les Républicains were projected to have won 29% of the vote, followed by the National Rally (19%) and Socialists (17%). The LREM won an estimated 11% and likely will not make it into the second round of voting, which takes place on 27 June, in several regions. The election is seen as a windgauge for next year’s presidential elections. Sources: BBC, FT, France 24, The Guardian and Politico.

Armenian PM claims re-election victory

Acting Armenian PM Nikol Pashinyan won an estimated 58.5% of the vote in a snap parliamentary election, which he called after losing a war with Azerbaijan last year. Sources: BBC, DW, France 24 and Reuters.

Body of fugitive Belgian soldier discovered

Authorities said a body found in eastern Belgium was that of an extreme-right soldier who had threatened politicians and virologists. Initial evidence indicates his death was “attributable to suicide”. Sources: AFP, BBC, DW and Politico.

Britain still tops with foreign finance investors, but loses ground

The UK remained the most attractive European market for financial sector investments in 2020, but drew less than the previous year. Britain garnered 56 foreign direct investment projects, down from 99, according to EY’s UK Attractiveness Survey for Financial Services. France took second place. Sources: Bloomberg, Scottish Business Insider and Yahoo Finance.

China bitcoin crackdown

The price of cryptocurrencies bitcoin and ether were both down sharply over the weekend after Chinese authorities said they would close down cryptomining operations. Sources: Bloomberg, FT and Yahoo Finance.

Apple Daily likely to fold after asset freeze

The Hong Kong pro-democracy newspaper Apple Daily said it will be forced to shut down in a few weeks after authorities froze its finances under a national security law. Sources: AAP, Bloomberg and Reuters.

Spac snaps up Universal Music shares

Pershing Square Tontine Holdings, a US investment vehicle, agreed to buy 10% of Universal Music from Vivendi for $4bn Sources: Bloomberg, FT and Reuters.

Morrisons turns down takeover offer

The UK supermarket chain Morrisons rejected an unsolicited takeover bid by Clayton, Dubilier & Rice, a US private equity firm, which valued the company at £8.7bn. Sources: BBC, Bloomberg, FT and Reuters.

McDonald’s post-covid expansion in UK & Ireland

McDonald’s said it would open 50 new fast food restaurants and hire 20,000 more staff in the UK and Ireland over the next 12 months. Sources: BBC, CityAM, FT and Metro UK.

Moody’s says Lux bonds are still AAA

The credit rating agency Moody’s reaffirmed its top-notch score on Luxembourg’s sovereign debt, predicting the state’s balance sheet would remain “unscathed by the coronavirus crisis as a result of a strong economic recovery and the conservation of its large fiscal space.” Sources: Government press release and Moody’s press release.

Henckes to exit CLC

Nicolas Henckes said he will be leaving employers group CLC at the end of the year, after four and half years as director. Sources: Delano and Paperjam.

Iranian nuclear plant in emergency shutdown

Iran’s only nuclear power station was unexpectedly shut down for what authorities said was for unspecified technical repairs. Sources: ABC News, DW and Reuters.

Latest round of Iran nuclear talks inconclusive

Diplomats said they made progress but no agreement was reached during talks to restore the 2015 nuclear control deal between Iran and western powers. Sources: AP, BBC, Bloomberg and Reuters.

Delta variant gaining ground

The World Health Organization said the Delta variant, the covid-19 strain first detected in India, is becoming the dominant form globally. Sources: CNBC, FT and Reuters.

Woman freed from chair after video stunt backfires

A woman in the US state of Michigan had to be rescued by firefighters earlier this month after she got stuck in a folding metal chair while making a racy Tiktok video. Sources: Buzzfeed and Newsweek.

Today’s breakfast briefing was written by Aaron Grunwald