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Day: 28 January 2025

Aoki Racing Team triumphs in E1 World Championship season opener in Jeddah

by: Cassandra Tanti
28/01/2025

Aoki Racing Team, supported by global music icon Steve Aoki, has made a triumphant start to the 2025 UIM E1 World Championship, securing a stunning victory at the highly-anticipated season opener in Jeddah.

The electrifying E1 Jeddah GP, held on the Red Sea before a crowd of enthusiastic fans, saw nine teams competing in nail-biting foil-to-foil racing. Aoki Racing Team surged to their first-ever E1 victory, overcoming fierce challenges from Rafael Nadal’s Team Rafa and Virat Kohli’s Team Blue Rising, who finished second and third respectively. The win marks an extraordinary comeback for Aoki Racing Team after a challenging 2024 season where they placed eighth overall.

Saudi Arabia’s first-ever female rally driver, Mashael Alobaidan, delivered a career-best performance as the team’s pilot. Alongside her new teammate, former Formula 1 test driver Dani Clos, the duo dominated the competition, thrilling the home crowd with their exceptional speed and precision. Alobaidan described the victory as “the best of her career so far”, while Steve Aoki praised his team’s determination and passion, saying, “It just goes to show the underdog has a chance when you have determination, passion, and love for the sport.”

Steve Aoki celebrates his team’s victory. Photo credit: Spacesuit Media

The Jeddah GP also saw moments of individual brilliance, with Eric Stark of Team Miami powered by Magnus setting the fastest lap of the day to earn an additional point for his team. Meanwhile, reigning champions Team Brady fell short in the finals, setting up a fiercely competitive 2025 season as teams aim to claim the ultimate prize.

“Fans have seen a thrilling racing spectacle this weekend here on the Red Sea,” said Rodi Basso, Co-Founder and CEO of E1. “The level of competition and drama reached new heights today.”

Aoki racing team Racebird. Photo credit: Spacesuit Media

The next stop in the 2025 UIM E1 World Championship is the Visit Qatar E1 Doha GP, which kicks off on 21st February. The season will also feature iconic coastal locations, including Monaco, Lake Como, and Miami, where the Championship will make its North American debut.

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok.

Main photo credit: Birgit Dieryck, Spacesuit Media

 

France: Value-sharing premium now mandatory for small to medium-sized companies

by: Stephanie Horsman
28/01/2025

In a significant change for French small and medium-sized businesses, a new law set to take effect in 2025 mandates companies with 11 to 49 employees to implement a value-sharing premium scheme – formerly known as the Macron bonus or purchasing power premium – if they meet certain profitability thresholds. Here’s how it works.

Introduced in November 2023 as part of an agreement on value-sharing within companies, the law requires businesses that have earned a net profit of at least 1% of their turnover for the past three consecutive years to establish a value-sharing bonus scheme for employees. This was previously an experimental five-year programme, but will now be mandatory for fiscal years starting on or after 1st January.

If a company meets these criteria, it will need to introduce one of several possible schemes, including: incentive or participation agreements allowing employees to participate in the company’s financial success; wage savings plans such as EEP, EIP, Perco or Pereco that offers options for employees to save and invest, linked to company performance; or a value-sharing premium (VPP), a direct premium paid to employees based on the company’s profitability.

The specific amount of the value-sharing premium and how the value-sharing scheme is distributed among employees is up to the employer. The premium may be the same for everyone or it could vary based on factors such as employee remuneration, seniority within the company, length of service, actual presence during the previous year, and full-time or part-time status. Under the new law, employers are permitted to use various criteria to ensure a fair distribution according to company norms and the financial performance achieved.

The goal is to encourage businesses to share their success with employees, aligning their interests and fostering a greater sense of ownership and engagement within the workforce.

It’s important to note that the VPP cannot replace wages, regular pay increases or bonuses outlined in contracts or agreements that are already in place. It is designed as an additional form of compensation that is specifically tied to a company’s net profit.

For more information, click here.

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Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok.

Photo source: Fauxels, Pexels