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Marine Le Pen banned from office and put under house arrest, upending France’s 2027 presidential race

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A French court on Monday sentenced far-right leader Marine Le Pen to a five-year ban on running for office with immediate effect, throwing into doubt her bid to stand for president in 2027.

The judge also gave her a four-year prison term, which is to be served with an electronic tag, drawing immediate criticism from her party and other far-right leaders.

Including 56-year-old Le Pen, nine figures from her National Rally (RN) party were convicted over a scheme where they took advantage of European Parliament expenses to employ assistants who were actually working for the party.

Twelve assistants were also convicted of concealing a crime, with the court estimating the scheme was worth 2.9 million euros.

All the RN officials including Le Pen were banned from running for office, with the judge specifying that the sanction should come into force with immediate effect even if an appeal is lodged.

“The court took into consideration, in addition to the risk of reoffending, the major disturbance of public order if a person already convicted… was a candidate in the presidential election,” said presiding judge Benedicte de Perthuis.

Three-time presidential candidate Le Pen, who scents her best-ever chance of winning the French presidency in 2027, has vehemently denied any wrongdoing.

She left the courtroom after her conviction and this sanction were announced, but before the judge announced rulings on a potential prison sentence and fine, an AFP correspondent said.

Le Pen said in a piece for the La Tribune Dimanche newspaper published on Sunday that the verdict gives the “judges the right of life or death over our movement”.

Young pretender

With her RN emerging as the single largest party in parliament after the 2024 legislative elections, Le Pen believed she has the momentum to finally take the Elysee in 2027 on the back of public concern over immigration and the cost of living.

Polls currently predict that she would easily top the first round of voting and make the second round two-candidate run-off.

The reaction from Moscow to the verdict was swift. “More and more European capitals are going down the path of violating democratic norms,” Kremlin spokesman Dmitry Peskov told reporters.

“Je suis Marine!” (“I am Marine”), wrote Hungarian Prime Minister Viktor Orban, one of her main allies in the EU, on X in support.

Waiting in the wings is her protege and RN party leader Jordan Bardella, just 29, who is not under investigation in the case.

Bardella, reacting to the verdict, said French democracy was “executed” with the “unjust” verdict.

In a documentary broadcast by BFMTV late on Sunday, Le Pen for the first time explicitly gave her blessing to Bardella becoming president. “Of course he has the capacity to become president of the republic,” she said.

But there are doubts even within the party over the so-called “Plan B” and whether he has the experience for a presidential campaign.

‘Very upset’

Le Pen took over as head of the then-National Front (FN) in 2011 but rapidly took steps towards making the party an electoral force and shaking off the controversial legacy of its co-founder and her father Jean-Marie Le Pen, who died earlier this year and who was often accused of making racist and anti-Semitic comments.

She renamed it the National Rally and embarked on a policy known as “dediabolisation” (de-demonisation) with the stated aim of making it acceptable to a wider range of voters.

Prosecutors accused the party of easing pressure on its own finances by using all of the 21,000-euro monthly allowance to which MEPs were entitled to pay “fictitious” parliamentary assistants, who actually worked for the party in France.

And prosecutors argue that its “organised” nature was “strengthened” when Marine Le Pen took over as party leader in 2011.

Given her current popularity, even some opponents have expressed discomfort over the prospect of Le Pen not making it to the starting line of an election.

“There are a very significant number of our fellow French citizens who identify with Marine Le Pen’s words and her struggle, and personally I would be very upset, to put it mildly, if she were unable to run to represent them,” France’s former EU commissioner Thierry Breton told French television at the weekend.

This story was originally featured on Fortune.com



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Trump’s ‘Liberation Day’ tariffs were worse than expected—sparking a global selloff

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  • In today’s CEO Daily: Diane Brady on Trump’s new taxes for international trade.
  • The big story: Tariffs were worse than expected.
  • The markets: Global selloff under way.
  • Analyst notes from Wedbush, EY, and Swoop Funding on—you guessed it—the tariffs, jobs, and Tesla.
  • Plus: All the news and watercooler chat from Fortune.

Good morning. Friend or foe? It hardly mattered yesterday as Donald Trump unveiled sweeping targets against all the trading partners of the United States. The headline numbers to know: A 10% baseline tariff on all imports, with specific and higher tariffs on some countries, including 34% on China (on top of the existing 20% tariffs), 20% on the EU and as high as 46% and 49% on Vietnam and Cambodia respectively. “They do it to us, we do it to them,” the President said during the Rose Garden tariff unveiling. Some food for thought as the fallout begins:

It’s worse than expected. As the White House was ironing out details of the plan deep into Tuesday, markets were showing some signs of life as investors hoped for last-minute leniency. But stock futures took a dive following Wednesday’s announcement. Only about half of what Americans buy is made in America, according to Commerce Department data, and industries like the auto sector that have complex global supply chains. 

This undermines manufacturers’ China+1 strategy. Some Asian countries are especially hard hit with tariffs of 40% or more, dealing a blow to U.S. manufacturers’ push to diversify production beyond China to low-cost neighbors like Vietnam, Bangladesh and Cambodia, especially in areas like textiles and electronics. Gap Inc.—home to Gap, Athleta, Banana Republic and Old Navy—has reduced its exposure to China in recent years but still sources the vast majority of its apparel from Asian countries hit hard by the new tariffs. Change takes time. 

A global backlash could hurt all companies. Trump described yesterday’s tariffs as “kind” to America’s trading partners. From the anger of foreign leaders to the foreign consumers boycotting U.S. products and travel, it’s clear that our partners disagree. Hostility is bad for business, with economists from EY, Goldman Sachs, and Moodys predicting lower growth from self-inflicted tariff wounds. I spoke this week with Niccolo De Masi, CEO of quantum computing company IonQ. “We’re building all of our stuff in America,” he said. “We’re not impacted negatively by tariffs but we are realistic that our ability to succeed in Asia and Europe comes with having more of a presence there.” That’s harder to do if a trade war whips up nationalist instincts.

This could devastate hard-hit economies and industries. Jacques Vandermeiren, the CEO of the Port of Antwerp-Bruges, Europe’s second largest port, told my colleague Peter Vanham earlier this fall, “If Trump puts in place tariffs of up to 10 percent, we’ll deal.” Substantially higher than that, Vandermeiren warned, could spell disaster for Europe’s steel, aluminum, auto, and other export-oriented industries. Switzerland’s struggling watch industry, which exports more of its products to the U.S. than any other country, will now face a hefty 31% tariff. Will those who crave a Rolex or Patek Philippe settle for a substitute? I doubt it.

There will be much negotiating in the coming days and business leaders know from experience that what appears on paper at a press conference may not translate to action at the border–or can be swiftly reversed. And U.S. consumers, whose spending accounts for more than two-thirds of GDP, aren’t looking that excited by all these tariffs that they’re told will help them in the end. Consumer sentiment tracked by the University of Michigan has been trending down this year to the lowest level since 2022.

Adam Smith once wrote that nations rarely thrive by beggaring their neighbors. That was in 1776, when mercantilism was dying and the U.S. was being born. Freed from British rule, the young nation used tariffs to develop homegrown industries that later competed on the world stage. With a globally connected U.S now returning to tariff levels last seen in the early 1900s, as cars were just coming on the scene, the impact could be very different.

More news below.

Contact CEO Daily via Diane Brady at diane.brady@fortune.com

This story was originally featured on Fortune.com



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U.K. PM Starmer confirms Trump’s 10% levies will hurt the British economy: ‘Nothing is off the table’

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UK Prime Minister Keir Starmer told business chiefs at his Downing Street office on Thursday that “clearly there would be an economic impact” from a 10 percent tariff imposed on British exports to the United States.

“Last night the president of the United States acted for his country, and that is his mandate. Today, I will act in Britain’s interests with mine,” said Starmer, adding that trade negotiations would continue with Donald Trump’s administration and that “we will fight for the best deal for Britain”.

Stressing that “nobody wins in a trade war”, Starmer vowed to respond with “pragmatism, cool and calm heads”.

“We have a range of levers at our disposal, and we will continue our work with businesses across the country to understand their assessment of these options,” he said.

“Our intention remains to secure a (trade) deal. But nothing is off the table, he said.

“We have to understand that just as with defence and security, so too for the economy and trade we are living in a changing world,” he said.

This story was originally featured on Fortune.com



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