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Month: August 2025

Investigation launched into Star Croisières collapse

by: Cassandra Tanti
07/08/2025

A criminal investigation is now underway following the collapse of Monegasque travel agency Star Croisières, which has been officially declared bankrupt by a Monaco court after leaving hundreds of holidaymakers out of pocket.

Judges delivered their ruling on Tuesday 5th August, placing the company into official cessation of payments and setting the insolvency date provisionally at 1st January 2025. The appointed administrator will now begin reviewing the firm’s accounts to assess its financial position in detail.

The court action comes after a weekend of growing controversy involving a collective of more than 500 international cruise passengers who allege they paid Star Croisières for holiday bookings, only to discover that the company never transferred the funds to cruise operators such as MSC Cruises. Many travellers claim they were told they would be denied boarding unless they paid again.

While MSC Cruises has since said it will offer alternatives in certain cases, passengers have reported widespread confusion and conflicting messages. The situation escalated rapidly, drawing scrutiny from the press and the courts.

€8 million in liabilities

According to Monaco Matin, who was in court for the proceedings, co-director Stefano Valentini explained that the company, founded in 2013, suffered severe financial pressure during the Covid-19 pandemic. “We had to continue answering client queries, so we couldn’t put all staff on technical unemployment,” he reportedly said. He also cited high rent costs as a burden.

Despite a post-pandemic rebound – with reported turnover of €23 million in 2023 – the company was unable to recover. Florestan Bellinzona revealed that Star Croisières had €8 million in liabilities against €4.3 million in assets, with only €3.4 million deemed recoverable for clients, according to Monaco Matin. He noted that any future compensation provided by cruise companies would reduce that recoverable figure.

Valentini reportedly told the court that financial trouble began in December 2024, but attempts to sell the company to three interested groups – including one offering a symbolic one-euro purchase plus debt coverage – ultimately failed.

The presiding judge questioned why bankruptcy proceedings were not initiated sooner, while assessor Thierry Deschanels condemned the delay as irresponsible. “You tried to save the company at the expense of your clients,” he reportedly said.

Criminal investigation underway

The public prosecutor’s office has now opened a criminal inquiry into the case. According to Monaco Matin, Deputy prosecutor Christine Mutiloa noted irregularities in the company’s reported results, highlighting losses of €45,000 in 2023 followed by an unusual rebound to €1,475 in profits in 2024, supported by €1.6 million in “exceptional income”. She stated: “There are things that must be examined. You will have to explain yourself.”

Valentini’s lawyer, Maëva Zampori, said her client intended to cooperate fully and provide all necessary documents. “He knows he hasn’t been perfect,” she said. “But he is pleased that some of the affected passengers may still be able to go on holiday.”

However, for many travellers, uncertainty remains. Speaking to Monaco Matin, legal representative Karen Lebigre, who leads the WhatsApp group ‘Victimes de Star Croisières’, said passengers continued to receive inconsistent informationfrom MSC Cruises. Some were offered new cruise options or credit notes, while others were told that their cabins had already been resold.

A spokesperson for MSC Cruises said the company was working “case by case” to find solutions, stating that “no client will be left without options”. However, many bookings have already been cancelled or altered, and affected passengers are now awaiting confirmation of revised travel plans or compensation.

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Photo credit: Cassandra Tanti, Monaco Life

The jobs AI can’t touch – and why they all come down to people skills

by: Cassandra Tanti
07/08/2025

Emergency medical technicians (EMTs) have topped a new ranking of jobs most resistant to being replaced by artificial intelligence. The study, carried out by digital agency Eskimoz, found that EMTs scored a perfect 100 in its AI Resistance Score – thanks to the critical public-facing nature of their work and a very low risk of automation.

Three out of the top five most AI-resistant jobs are in healthcare, highlighting the industry’s deep reliance on human touch, empathy, and complex judgement. Healthcare social workers came in second, also requiring 100% public interaction, followed by lawyers in third place. While AI can assist with documents and research, courtroom presence and emotional intelligence are still very much human territory.

Construction supervisors beat out the office crowd

Construction also made a strong showing. First-line supervisors in the trades took fifth place, beating many white-collar jobs. Their roles involve constant real-time decision-making, safety oversight and team leadership—areas where a robot just can’t cut it. Medical and health services managers came fourth, proving that jobs involving lots of coordination and high-pressure decision-making still need a human brain at the helm.

Communication, judgement and people-first skills come out on top

Human resources managers, operations leaders, maintenance workers, and training specialists round out the rest of the top 10. While these jobs span a wide range of industries, they all have one thing in common: high public interaction and decision-making that requires social intelligence.

Why AI can’t take over everything

According to a spokesperson from Eskimoz, “jobs combining high human interaction with complex decision-making create the strongest defence against AI replacement”. They also pointed to the dominance of healthcare roles in the ranking, saying that empathy, ethics and emergency judgement are all factors machines can’t yet replicate.

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Photo credit: Michel E, Unsplash

Banque Havilland Monaco takeover complete, rebranding as Moncrief Private Bank

by: Cassandra Tanti
07/08/2025

Banque Havilland (Monaco) SAM is set to relaunch under a new name following its acquisition by a group of international investors. The financial institution will rebrand as Moncrief Private Bank (Monaco) SAM in the fourth quarter of 2025. 

The transaction, now formally approved by Monaco’s Commission de Contrôle des Activités Financières (CCAF) and France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR), brings the bank under new leadership with a stated commitment to both continuity and innovation. According to the new owners, clients will experience no disruption in service, with existing products, services, and relationship managers remaining unchanged.

In a statement released on Thursday 7th August, the bank’s new leadership said their immediate priority was to ensure a stable transition, while also laying the groundwork for a new phase of growth. The investor group, which includes fintech and wealth management figures with international reputations, has outlined plans to expand the bank’s service offerings and introduce advanced digital tools in the near future.

Among the investors is Jason Bates, a well-known entrepreneur and co-founder of UK digital banks Monzo and Starling. He is joined by Maksym Koretskiy, a wealthtech specialist with two decades of experience in private banking, and Jim McColl, a veteran business leader and Monaco resident for over 25 years.

The acquisition follows a period of uncertainty for Banque Havilland Monaco. In September 2024, the bank entered negotiations with another investor consortium after Andbank Monaco decided not to proceed with its previously announced offer.

Speaking about the acquisition, Patrick Dauguet, CEO of Moncrief Private Bank, said: “This acquisition marks a new chapter for the bank. The combined expertise of the new owners will not only bring more stability and excellence to the business, but their vision for a new digital offering in the region will bring added value to our clients over the coming years.”

See also: 

Banque Havilland Monaco pursues sale to private bank amid ECB regulatory action

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Cirque Piedon brings traditional magic to Monaco

by: Kyriaki Topalidou
07/08/2025

Cirque Piedon, a traditional French circus with more than a century of history has set up its big top in Monaco, offering families a chance to experience the timeless magic of live performance.

The circus, which has been touring France since 1920, is presenting nightly shows at 6:30pm at Espace Fontvieille from 2nd to 13th August. The family-run circus promises an evening filled with acrobats, clowns, animals, and spectacular acts designed to captivate audiences of all ages.

The Piedon family has maintained their nomadic lifestyle for over 100 years, passing down their passion for circus arts from generations to generation. Today, every aspect of the operation remains a family affair, from the performance on stage to the behind-the-scenes organisation, always with the same desire to make people dream.

The Monaco residency marks a highlight of the circus’s summer tour, offering nearly two weeks of entertainment in the Principality.

However, Cirque Piedon maintains its traditional values in an increasingly digital world, with tickets available exclusively at the venue rather than online. For this reason, it is advised to arrive early to secure a good spot and fully enjoy the experience.

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Main photo credit: © Direction de la Communication – Manuel Vitali

Southern France ravaged by fast-moving wildfire near Spanish frontier

by: Cassandra Tanti
06/08/2025

A fierce wildfire in the south of France, close to the Spanish border, has become the most devastating blaze of the summer, burning through 13,000 hectares in less than 24 hours, killing one woman and injuring at least nine others. The A9 motorway, a major link between France and Spain, was closed in both directions on Tuesday afternoon as the fire intensified.

The fire broke out on 5th August near the village of Ribaute in the Aude department, deep in the Corbières hills of southern France. Situated between Narbonne and Carcassonne, and just an hour’s drive from the Spanish border, the region is famed for its vineyards and historic hilltop villages. The fire’s intensity forced evacuations across several communes and left behind a trail of destruction that authorities described as “unprecedented”.

A 65-year-old woman died in her home in the commune of Saint-Laurent-de-la-Cabrerisse after refusing to evacuate. Among the injured were seven firefighters, with one person in critical condition due to severe burns. At least 25 homes have been destroyed or badly damaged. “This is a disaster of exceptional magnitude,” said firefighter spokesperson Eric Brocardi on RTL radio.

Strategic A9 motorway closed as flames cross transport corridors

The A9 motorway, a key transport artery stretching from Orange to the Spanish city of Barcelona, was shut at around 2pm on Tuesday in both directions between Narbonne and Perpignan. This precaution was taken to ensure safety and allow emergency crews to access the most active zones. The closure caused significant disruption for cross-border traffic and summer tourism.

Rémi Recio, a senior official in Narbonne, said: “The fire is still spreading and is far from being under control.” Secretary general of the Aude prefecture, Lucie Roesch, confirmed the fire was “advancing in an area where all the conditions are ripe for it to progress,” with high winds and dry vegetation continuing to fan the flames.

Massive emergency response across southern France

Over 1,800 firefighters, 500 fire engines and several aircraft, including Canadair water bombers, have been deployed to combat the inferno. Approximately 2,500 households are without electricity. Residents in high-risk areas, including tourists in local campsites, have been evacuated to municipal shelters. One evacuee told France 2: “I wanted to go back to my house to get my things but I couldn’t go in. When I left, there were flames at the foot of the house.”

French President Emmanuel Macron said the nation’s full resources are being mobilised to fight the fire and urged the public to act with “the utmost caution”. Prime Minister François Bayrou was expected in the region on Wednesday to support emergency efforts and meet with local authorities.

Rising fire risk in the Mediterranean south

This southern stretch of France has become increasingly vulnerable to wildfires due to rising temperatures and prolonged drought. The removal of some vineyards, which previously acted as natural firebreaks, has further compounded the threat. The European Union’s Copernicus Climate Change Service has warned that the Mediterranean is one of the fastest-warming regions on the planet, with fires becoming more frequent and more destructive each summer.

France joins Portugal, Spain, Turkey and Greece in battling large-scale wildfires this season. The southern French blaze remains active, with containment likely to take several more days under worsening weather conditions.

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Photo source: Préfet de l’Aude, Facebook page

Monaco’s two-stop Formula 1 rule to remain for 2026 race

by: Kyriaki Topalidou
06/08/2025

Formula 1 has decided to keep the controversial mandatory two-stop tyre rule for the Monaco Grad Prix 2026, despite widespread criticism following its debut this year.

The regulation was formally included in the updated 2026 sporting regulations published by the FIA on 31st July 2025. The Monaco-specific rule states that “for the race in Monaco, each driver must use at least three sets of tyres of any specification during the race, and, unless they have used intermediate or wet-weather tyres during the race, each driver must use at least two different specifications of dry-weather tyres during the race, at least one of which must be a mandatory dry-weather Race tyre specification.”

This differs significantly from the standard regulation applied for all other races, where drivers need only use “at least two different specification of dry-weather tyres during the Race, at least one of which must be mandatory dry-weather Race tyre specification.”

The Monaco-only regulation was introduced in 2025 to tackle the street circuit’s regulation for processional racing, where overtaking is notoriously difficult. However, instead of creating more wheel-to-wheel action, the rule created new problems when teams found ways to exploit it strategically.

During the 2025 Monaco race, several teams used tactics where one driver would deliberately slow down to hold up competitors while their teammate created space for an advantageous pit stop. The strategy worked, but it didn’t sit well with everyone involved.

Drivers call out ‘race manipulation’

The tactics drew sharp criticism from drivers. Williams driver Carlos Sainz, who was directly involved in the controversial strategies, didn’t mince words about what happened.

“It’s something I definitely didn’t enjoy doing,” Sainz said at the time according to The Race. “Something definitely the sport should look into. Ultimately you’re driving two or three seconds off the pace that the car can do. You are ultimately manipulating the race and manipulating the outcome a bit.”

Mercedes driver George Russell became so frustrated with the blocking tactics that he cut a chicane to overtake Alex Albon. He argued that the two-stop rule wasn’t the right solution.

“We definitely need to have a real think about what the solution is here in Monaco,” Russell said, as reported by ESPN. “I appreciate trying something this year for two stops, but clearly it did not work at all.”

However, the FIA has decided to keep the rule for 2026 despite the concerns raised. The regulation appeared in the latest version of the 2026 sporting regulations following an e-vote approval by the World Motor Sport Council.

Heavy penalties for rule breakers

The regulations include strict penalties for drivers who don’t follow Monaco’s special tyre requirements. Under normal circumstances, “failure to comply with these requirements will result in disqualification of the relevant driver from the Race results.”

The penalties are different if the race gets suspended and can’t be restarted. For Monaco specifically, “thirty seconds will be added to the elapsed time of any driver who did not, when required to do so, use at least two specifications of dry-weather tyre during the race, or who did not use at least three sets of tyres of any specification during the race.”

There’s an additional penalty in extreme cases: “Furthermore, an additional thirty seconds will be added to the elapsed time of any driver who used only one set of tyres of any specification during the race.”

This means drivers could face up to 60 seconds in time penalties for the worst non-compliance in a suspended Monaco race.

With the rule confirmed for 2026, Formula 1 and the teams now need to figure out how to prevent the strategic games that overshadowed the 2025 Monaco Grand Prix

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Main photo credit: Eleni Topalidou, Monaco Life