Emmanuel macron wins the french presidency, but that may prove to have been the easy part. We assess how his en Marche Movement hopes to tackle the huge problems of the french economy. And President Trump wants to cut red tape to get drugs on the market faster, but the Pharmaceutical Industry is wary of president s bearing gifts. So now lets focus on the Business Implications of that result in france. Well look at all the Market Reaction as well in this of World Business report. So, he got thejob. Emmanuel macron is to be the french president. Now the hard work begins. His first challenge will be to form a government with crucial parliamentary elections in june. The outcome of that will determine how much power the new president has to tackle the lengthy list of economic problems. As weve highlighted before on this Programme France has had a high Unemployment Rate for many, many years. Currently it is about 10 of the workforce, or 3 million people. That co m pa res workforce, or 3 million people. That compares with 4. 3 across the border in germany. The problem is worse for young people. Pretty 4 of those between the ages of 15 and 2a do not have a job. 2496. The other big issue is the size of the Public Sector in france one of the largest in the world. Last year it accounted for over 50 of national income. This is something macron has promised to tackle and bring down costs. With an economy that has seen faltering growth for years some experts say it will bring much needed savings. Joining us now from paris is laurent clavel, head at axa investment managers. I assume you are Breathing A Sigh of relief . Yes we are. Markets were very happy to see this result. That already was the feeling that polls had got the popular vote right, and they should be no surprise yesterday evening. The question now is about the parliamentary elections in june, question now is about the parliamentary elections injune, and how much power Emmanuel Macrons party will get. Absolutely. France has a party will get. Absolutely. France hasa semi party will get. Absolutely. France has a semi president ial regime. The president alone cannot do that much. The goalfor president alone cannot do that much. The goal for Emmanuel Macron is to getan the goal for Emmanuel Macron is to get an outright majority in the lower house to pass his progress through parliament, or at least to have a relative majority, which means having more mps than other parties. The goals for the other parties, the right wing, for example, which was expected a year at lisa do better, is to lead a coalition and decide on the policy agenda. But he has promised a change for the economy, as did Francois Hollande and nicholas sarkozy. Many have failed to bring the changes that they said they would. Will he deliver . That is a good question. I think your comparison is probably interesting in the sense that for many, interesting in the sense that for any interesting in the sense that for many, many years, possibly even decades, french governments, french president s, have promised their European Partners reforms against deficit slippage. We believe we have reached a point where European Partners are not interested in hearing is at a bargain. Partners are not interested in hearing is ata bargain. Our European Partners. We have reached a point where it france will deliver reforms of to stay ahead of the curve in the international competition. Where is the fiscal stimulus which is probably needed for the eurozone to grow out of the globalfinancial for the eurozone to grow out of the Global Financial crisis and the Global Financial crisis and the global recession that we have been struggling with a decade, is going to come from a different country, namely, germany. We will keep a close eye on germany, of course. They are next on the list. Thank you very much forjoining us laurent clavel. So what effect has mr macrons win had on the financial markets. Markets. Sharanjit leyl is in our Asia Business hub in singapore. This was no surprise, was at . Not really, but you said that breathe a sigh of relief. That was true here to. Was it. Too. There was a lot of nervousness after the populace wins last year and after the brexit vote. Investors who took their cues from the wall street rally. That was as dealers rallied after thejob rally. That was as dealers rallied after the job raises. Rally. That was as dealers rallied after thejob raises. He did fall back again because his win had been factored in, but there were lots of fears that a win for Marine Le Pen could see france leave the eu. Japans Share Average has hit a level not seen in nearly 17 months asa level not seen in nearly 17 months as a more business friendly view of europe is helping business here. Little risk is a huge fear and it was considered a major market theme here. But this win by Emmanuel Macron, and the dutch win for another centrist candidate, was very reassuring to asian investors. Political risk is letting in europe. Thank you forjoining us, Sharanjit Leyl the trump administrations response to slow but steady growth in the us has been to declare that cutting red tape will boost Company Profits and economic activity. The president has issued orders and initiatives for a range of industries. One is the pharmaceutical sector. Donald trump has said that Cutting Regulation will make it easier for Drug Companies to get new medicines to market. But how realistic is this proposal . Samira hussain has been weighing it up. Donald trump said that lowering the cost of Prescription Drugs had to be done. Howell . Cutting regulations. done. Howell . Cutting regulationslj will done. Howell . Cutting regulations. will be streamlining the process so that from your standpoint, if you have a drug, you can get it approved, instead of waiting for many years. In that meeting at the white house was the influential pharmaceutical lobby group, pharma. We are living with regulations to veldt 40 we are living with regulations to veldt a0 years ago. We have to keep safety first, but there are opportunities to modernise the system and to get medicines to the marketplace faster and to help patients. Faster approval by the fda would mean more drugs on the market, which should increase competition and bring down prices. But the cost of that idea could be even greater in patient safety. This Drugs Company is testing cancer treatment. These are the countries that take most of the risk when getting a drug to market. It is a process that could cost billions of dollars, to 15 years, and no guarantee of success. 15 years, and no guarantee of success. The company. But surprisingly, companies that this are not convinced faster approvals are not convinced faster approvals area are not convinced faster approvals are a good idea. What is important is to develop effective therapies that are also safe. I do believe we should lower the bar. I think we have to work creatively with our partners in the regular tree industry, with other stakeholders, including patients and caregivers, to make this process more efficient. We should do that without sacrificing quality. The president s views on the Pharmaceutical Industry, like his view on others, is that there are Simple Business Solutions to its problems. However, the testimony from the industry itself demonstrates that Donald Trumps solutions dont always have much to do with the underlying problem. And of course there is a lot more on oui and of course there is a lot more on our website in terms of business stories, so take a look when you have a moment. Now, here in the uk a ban on Television Adverts for unhealthy food and sweets until the nine oclock watershed is being promised by labour, as part of a strategy to tackle Childhood Obesity. The conservatives say britains Advertising Rules are already the strictest in the world. More details from our political correspondent, leila nathoo. Tempting treats, difficult for children to resist. Bring down high rates of Childhood Obesity has long been a pressing Public Health concern. Now labour says it would tackle the problem by banning Junk Food Ads during prime time tv. It says that it would stop adverts for unhealthy foods, high in salt, sugar, orfat, id being broadcast before 9pm. It says that it would hope to halve Childhood Obesity rates within a decade. It is promising a £250 Million Health fund for childrens mental and physical health. The gunmen has a ready an hour surtax on sugary drinks. And in a strategy outlined last summer, a volu nta ry a strategy outlined last summer, a voluntary target for the food and drinks industry to reduce sugar. But some claimed the measures dont go far enough. The conservatives and have accused labour of making unfunded promises, it is that their plan to cut Childhood Obesity was ambitious. Leila nathoo, bbc news. Social media platform facebook has closed thousands of accounts linked to fa ke closed thousands of accounts linked to fake news ahead of the general election. The website has placed adverts in todays national newspapers, explaining how you can spot such stories, saying its doing everything it can to tackle the problem. It comes after facebook was accused of helping to spread fake news during last years american election. Coming up in just fifteen minutes on breakfast dan walker and Louise Minchin will have all the days news, business and sport. Theyll also have more on immigration and its possible impact on the general election in the uk. This is bbc news. The latest headlines frances President Elect the Pro European Centrist Emmanuel Macron has promised to unite the country, restore confidence in the eu, and tackle terrorism and climate change. His First Priority following his decisive win will be to form a new government. His defeated rival, Marine Le Pen, has vowed to turn her attention to the coming parliamentary elections. She said her National Front party was now the main opposition, after receiving more than a third of the popular vote. Now lets have a look at how this victory for Emmanuel Macron is being seen around the world, starting with the french media. Le figaro has a picture of Emmanuel Macron in front of the Louvre Pyramid with the headline victory is on the move, pointing out that hes the youngest leader of the french republic ever. Le mondes website leads with that decisive winning figure of 66 , while liberations website has several articles on the election result but heads its home page with a simple banner that reads, e. Macron elected. Outside of france the guardians front page emphasises the Division Within the country despite macrons win. They mention his pledge to heal the anxiety and doubt among the population. The irish times has a more upbeat headline, reporting the Election Results as a landslide for macron and focusing on what they call the relief felt by the rest of europe. And of course, the election of a pro eu french president has been noted by several of the other main british newspapers. The telegraphs Business Pages and the independent focus on the effect macrons election could have on brexit negotiations. And the independent, despite the romantic image on its front page, leads with the phrase, macron set to make mays negotiations with the eu tougher. He has said, in the past, he will ta ke he has said, in the past, he will take a tough stance on brexit. Lets turn to another part of france bordeaux is a macron stronghold, and my colleague is there. Good morning a very good morning to you. Welcome to bordeaux. This is my guest, ettian millian, a journalist of sud west, one of the biggest regional newspapers in franch. You were telling me the name of your city . Bordeaux is
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