The Municipal Council of Monaco has issued a formal clarification in response to a growing public petition opposing the potential closure of the popular Le Zinc bar, amid the restructuring of the Halle du Marché de la Condamine.
With the petition Contre la fermeture du bar Le Zinc à Monaco gaining traction online, the Municipal Council has moved to explain the rationale behind the decisions taken as part of the Condamine Market redevelopment project — and to address what it describes as “various comments published on social media” regarding the market’s future look and feel.
According to the Council, extensive studies were conducted to guide the market’s transformation, with careful analysis of each vendor’s offer and the overall commercial coherence of the planned space. Of the 18 merchants expressing interest in remaining in the updated hall, 17 were selected to join the next chapter of the Condamine Market.
Monaco Mayor Georges Marsan had previously outlined this vision during a press conference on 1st October, stressing the aim of creating a more functional and welcoming space for the community, without compromising the spirit of the market. The vast majority of vendors, the statement notes, have expressed satisfaction with the support they’ve received during the transition.
However, the case of Le Zinc proved more complex. Since February 2025, the bar’s operators have reportedly met with the Mayor and municipal services on several occasions. During these meetings, they were invited to propose a new concept more in keeping with the vision for the redeveloped market. No such concept was submitted within the required timeframe, according to the Council, and therefore the bar’s inclusion in the new plan could not be secured.
In response, the Mairie says it offered Le Zinc’s operators a form of financial compensation and confirmed that they would be welcome to apply for open tenders that will be launched during 2026.
Initial design plans, released in March 2025, credit: Jerome Hein, the A Group
Conceptual designs still in development
In addressing broader concerns expressed online about the design direction of the renovated market hall, Mayor Marsan clarified that the renderings currently in circulation are still in early draft stages. Updated visuals, complete with final layouts, furnishings, and social spaces developed in consultation with vendors, are expected in early 2026.
Deputy Mayor Marjorie Crovetto, who oversees the Communal Domain, Commerce, Halles and Markets, reiterated that the renovation has been designed to preserve the market’s identity while enhancing its appeal.
“The renovated Marché has been conceived as a place where the population can feel welcome and at home, while enhancing its soul and attractiveness,” she said.
She also emphasised that multiple food businesses in the new hall will be able to offer beverages alongside their culinary activities. Patrons can expect a wide range of retail and dining options, including a butcher, diverse restaurants, and vastly improved hospitality standards.
Crucially, she added that the aim is not to create a luxurious or exclusive venue, nor to turn the market into a “giant restaurant”. Rather, the Council says the entire redevelopment has been driven by the desire to foster a space of authenticity and community — one that remains accessible to all, while securing the long-term viability of this emblematic part of Monaco life.
There are fundraising galas, and then there’s the Butterfly Ball. Held at the Hôtel de Paris in Monaco, the event has grown from a modest dinner with a few tables into a philanthropic powerhouse that, this week, marked its 10th anniversary — raising more than €1 million for Caudwell Children and Caudwell Youth.
At the centre of it all is John Caudwell, a Monaco resident and one of Britain’s most successful entrepreneurs, who made his fortune founding and selling mobile phone giant Phones4U. But what he’s built in philanthropy is, in some ways, just as ambitious — and deliberately so. “We’re very businesslike,” he says. “We make every pound deliver the maximum value.”
This is charity, run like a company — and that’s precisely why it works.
The business of giving
From the outside, the Butterfly Ball sparkles like any other society event. Inside, however, it operates with the precision of a finely tuned business — a reflection of how John Caudwell approaches all his current ventures, from philanthropy to property, real estate finance, nautical technology, and luxury yachting.
The idea was born at one of his earliest galas, when a young girl with muscular atrophy painted an image that came to define the charity. Below a dividing line were small, fragile butterflies with crumpled wings; above it, bright butterflies soaring freely. It was a picture of transformation — a child’s interpretation of the power of Caudwell Children.
John Caudwell and his wife Modesta Vžesniauskaitė, former road racing cyclist for Lithuania.
Guests were prepared to pay thousands for the painting — money that would go towards a £25,000 motorised wheelchair for the little girl’s sister. But instead of selling it to the highest bidder, John Caudwell saw an opportunity to think bigger. He reframed the moment, inviting guests to fund “half a wheelchair”, “a full wheelchair”, then multiples. The momentum built — five, ten, eventually 17 wheelchairs were funded. What began as a child’s drawing became the spark for a new kind of philanthropy — one powered by strategy, scale, and measurable impact.
That same approach drives the gala today. Each year, Caudwell donates a week aboard his yacht, worth €700,000 in peak season. He has it underwritten in advance through brokers, guaranteeing a minimum return before the event even begins. Then, on the night, the bidding can soar to €350,000 or more — often multiple times over, as he deftly turns one lot into several.
He also personally contributes an additional third of all the funds raised, effectively covering his charities’ administration costs and ensuring every donation goes directly to the children. It’s not just generosity; it’s design — philanthropy built with a business plan.
John Caudwell, his wife Modesta, and members of the Life-Changers Circle at the 10th anniversary Butterfly Ball Monaco.
A circle of givers
One of the most innovative structures within Caudwell’s philanthropic model is the Life-Changers Circle — a group of high-net-worth individuals who pledge £1 million over ten years.
“It started during Covid,” Caudwell says. “I wanted to find people who were genuinely philanthropic, who wanted to make a long-term difference.”
The circle isn’t just a financial mechanism. It’s a core community of trusted supporters who join Caudwell for dinner at his home, and attend the charity’s major events — including the Monaco and London Butterfly Balls — bringing their own networks into the fold. “They come, they support, and they’re generous,” he says.
The loyalty is strong. “Most of those people turn up every year,” Caudwell explains. “They’re proud of being part of it, and they genuinely care about what we’re doing.”
Singing legend Kylie Minogue with John Caudwell and a child benefitting from the work of Caudwell Children
The stories that stay with him
After more than two decades of running Caudwell Children, John Caudwell has seen thousands of lives transformed. But some truly standout.
There’s the boy with cerebral palsy who used to drag himself across the kitchen floor, wearing through his jeans until his parents stitched on leather patches. “We sent him to the States for an SDR operation,” Caudwell recalls. “Then two years of physiotherapy. At the London Ball, he ran across the stage and jumped into my arms. That’s an unbelievable transformation. He was destined to have no legs for life — and suddenly he could run.”
Then there was the mother of a girl with severe autism, who attended one of the foundation’s five-day training courses. “She practiced what we taught every night,” he says. “On the Friday, she said, ‘My daughter sat on my knee last night and said, Mummy, I love you.’ Can you imagine what that meant to a mother who had never felt any affection from her child?”
For Caudwell, moments like that cut through everything. “That level of transformation shows that it is possible. And we see it, time and time again.”
Caudwell Youth in Paris
Scaling up: the launch of Caudwell Youth
While Caudwell Children supports young people with disabilities and autism, Caudwell’s newest initiative — Caudwell Youth — tackles an entirely different crisis: the lives of young people at risk.
“We’re looking after young people with histories of criminality, abuse, neglect, drug use, mental health problems,” he explains. “Some have been sexually trafficked. Others are facing serious trauma. And in many cases, we’re the first people they’ve ever trusted.”
The model is simple but effective: trained volunteer mentors are paired one-on-one with vulnerable youths, providing guidance, stability, and emotional connection. And the results are startling.
“In just three years, we’ve reduced repeat criminality by 93%,” Caudwell says. “That’s not just a number. That’s lives changed, crimes prevented, victims protected — and millions saved in public costs.”
Over £1 million raised at the Monaco gala
Why he does it
It’s not for headlines or legacy. It’s because, as he puts it, “What better cause is there than a child who hasn’t had much of a life — and giving that child a future?”
Caudwell’s motivation is also rooted in frustration — not only with inefficiency in the charity sector, but with what he sees as a lack of long‑term vision from government. “The government is always at the wrong end of the stick,” he says. “They’re constantly fixing the consequences of problems they ignored. Nine times out of ten, it costs them a hundred times more than it would have if they’d acted early.”
He believes that the answers are already clear — they just need the will to implement them. “They agree with me entirely,” he says, referring to conversations he’s had with senior UK politicians. “But agreeing is one thing — doing something is another. They’re too focused on the next election, not the next generation.”
For Caudwell, philanthropy fills the void left by short‑term politics. “If everyone’s always thinking about the next election,” he adds, “nothing actually gets done.”
Looking ahead
For Caudwell Children, autism support is now a central focus — and with good reason. The condition is rising sharply, and for many families, navigating the diagnosis and care system can be overwhelming.
“Autism is growing dramatically,” says Caudwell. “We don’t know exactly why, but I don’t believe it’s just better diagnosis. There’s something bigger happening biologically — in pregnancy or early infancy — we just need to figure out what it is.”
Against a backdrop of long public health delays and diagnostic age thresholds that often stretch to seven or eight-years-old, Caudwell Children offers assessments in just two days — a turnaround that, for many families, is life-changing. But diagnosis is only the beginning.
The foundation provides intensive support to parents, helping them understand how to communicate with their children. One-on-one training sessions, behavioural strategies, and group workshops offer parents practical tools — while children receive targeted therapy to support emotional regulation, social connection and development.
Crucially, the charity extends its focus to the entire family unit. “We don’t just help the child,” says Caudwell. “We support their siblings and parents too. Because when the parents collapse, the whole family unit can fall apart.”
The need is vast, and the ambition is growing to meet it. “What we’re doing now is probably only 10% of what needs to be done,” he says. “But we’re building. We’re growing.”
Nicolas Hamilton and Neev Spencer at Butterfly Ball Monaco 2025
A night with purpose
On Wednesday night, the Butterfly Ball Monaco marked its 10th anniversary with €1,015,600 raised, thanks to the generosity of a community Caudwell describes as “extraordinarily loyal”. The gala, co-hosted by racing driver and disability advocate Nicolas Hamilton and award-winning DJ and presenter Neev Spencer, brought together philanthropists, celebrities, and longtime supporters for a spectacular evening of fundraising and celebration.
Caudwell’s wife Modesta Vžesniauskaitė, who founded the Monaco edition of the Butterfly Ball and remains instrumental to its success, reflected on its evolution: “When I created the Butterfly Ball Monaco 10 years ago, I dreamed of something magical — an evening that reflected the beauty of Monaco but raised essential funds for the children who need us most.”
Now, a decade later, it’s a high-profile, highly-anticipated philanthropic event in the Principality, with support from partners like Burgess Yachts and creative direction by Billy Folchetti, known for his immersive event experiences. Guests enjoyed a three-course dinner, performances from Anastasian, The Troubadours, and DJ Filippo, and an auction led by renowned auctioneer Charlie Ross, featuring once-in-a-lifetime experiences, including a Formula E VIP experience with Sébastien Buemi.
As dinner turned to dancing beneath the chandeliers of the Hôtel de Paris, the evening stood as a celebration of what purposeful giving can achieve. The Butterfly Ball Monaco was elegance and generosity in equal measure — a testament to how philanthropy, when driven by strategy and heart, can deliver lasting change.
“I’m immensely proud of what we’ve achieved,” said Caudwell. “The event has grown in scale and ambition, but most importantly, it’s transformed the lives of children across the UK. Together, we’re helping to build a world where every disabled or autistic child has the chance to thrive.”
AS Monaco remain winless in the Champions League as Vicario frustrated the hosts, ensuring that an unambitious Tottenham Hotspur side took a point away from the Stade Louis II on Wednesday night (0-0).
Thomas Frank quickly identified the man “responsible” for Tottenham Hotspur’s resistance: Vicario. “He was very good today. I think that some of his saves were exceptional,” said the Tottenham manager, who was all too aware that his team had been bested in the Principality. If his eyes didn’t tell him, then the boos from the travelling away fans at full-time did.
But this is a match from which Monaco can have regrets. Sébastien Pocognoli, who took his place in the dugout at the Stade Louis II for the first time since replacing Adi Hutter, said that the feeling in the dressing room post-match was one of pride but also one of frustration. Both were certainly justified.
Vicario wins duel with Balogun
Against Premier League opposition, Monaco dominated almost from start to finish, peppering the Tottenham goal but failing to find that all-important goal. It was Folarin Balogun who went closest in the first half. The former Arsenal forward was brought in ahead of Mika Biereth and his frequent runs in behind justified that decision. One such run was picked out by Maghnes Akliouche, himself linked with a move to Spurs over the summer. However, Balogun was denied by the onrushing Vicario, who made the first of nine saves.
His next one, also from Balogun, was the pick of the lot as he got down low to his left to turn the curled effort around the post. Pocognoli said that Vicario receiving the man of the match award “says a lot”. It speaks to an excellent performance from the Italian but also to a wastefulness from the Principality club. Takumi Minamino was the main culprit, with the Japan international failing to hit the target with any of his three chances late on, but when Vicario was called upon, as he often was, he was up to the task. His excellent save from Jordan Teze’s close-range header felt like the decisive moment, the one in which it became clear that Monaco would not be able to beat the man mountain.
“It is a shame not to take the three points” – Monaco manager Pocognoli
But in the crowd, there was also a feeling of inevitability that this would be a smash-and-grab from Spurs, who failed to truly test Philipp Kohn, in what was a tale of two goalkeepers; one was busy, the other largely redundant. Even as Monaco tired in the closing stages, Tottenham could not capitalise. Naturally, even early in the Pocognoli reign, there is reason for optimism, despite the goalless draw.
“When you create so many chances against a team of this level and you keep a clean sheet, it is a shame not to take the three points, which were more than deserved,” said Pocognoli. “But we will gain a lot more in the long term by playing like this. I prefer this to winning 1-0, but by defending for the whole match and showing nothing positive.”
The Monaco manager admitted that, having taken just two from a possible nine so far in the Champions League, there is a “need for points”, although he dismissed any notion of “urgency” pre-match. Under Hutter this season, there were often results but not performances. The pendulum has swung. Pocognoli and Monaco will need both if they want their Champions League experience to go beyond the League Phase.
A preliminary investigation into last month’s near-collision at Nice Côte d’Azur Airport has confirmed that a runway error was behind the incident. The revelation comes just days after France’s Transport Minister announced new staffing and biometric measures to tighten oversight in the control tower.
The Bureau of Enquiry and Analysis for Civil Aviation Safety (BEA) has confirmed that on the night of 21st September, a Nouvelair aircraft began its descent towards the wrong runway — one already occupied by a departing easyJet flight. The two aircraft came within three metres of one another before the Nouvelair pilot initiated an emergency go-around.
The BEA’s 23-page preliminary report reveals that air traffic control had instructed the Tunisian aircraft to land on runway 4L at least five times. However, the pilot mistakenly aligned with runway 4R, where the easyJet jet was waiting for clearance to take off. The report, according to local media, also notes that runway layout, lighting intensity and poor weather may have contributed to the confusion.
Although not yet definitive, the findings underline just how close Nice came to disaster. The BEA writes: “The aircraft was 10 feet above the ground and therefore from the easyJet aircraft when the go-around was initiated.”
Minister: “We must guarantee performance and vigilance”
Just days before the release of the BEA report, France’s Transport Minister Philippe Tabarot appeared on BFM Nice Côte d’Azur to outline the government’s immediate response. He announced the deployment of 30 new air-traffic controllers across the south-east region within the next three years, including several at Nice.
“These reinforcements had already been planned,” said Tabarot, “but this incident confirms just how necessary they are.”
In a further move to strengthen accountability, the minister also confirmed that biometric badges will be installed at the Nice control tower to monitor staff presence in real time.
“This is about rationalising the organisation and guaranteeing performance,” he said. “Everyone must be at their post, fully focused on the mission.”
Pressure mounts on France’s third busiest airport
Nice Airport handles more than 14 million passengers each year and is one of France’s most active regional hubs. But recent internal concerns from control tower staff — including issues with staffing, narrow runway widths, and inconsistent lighting — have exposed growing operational pressure.
Tabarot acknowledged the strain: “Nice Airport is handling practically the same traffic as Roissy-Charles de Gaulle, but with equivalent staffing levels.”
The government had already launched a full inspection of the control towers at Nice and Aix-Marseille in July, citing “underperformance and significant delays”.
Full findings still to come, but changes already underway
While the BEA’s final report has yet to be completed, the government is moving ahead with reform. The incident has triggered public scrutiny and urgent calls for improved oversight.
“Safety relies on precision and human reliability,” said the minister. “We will draw all necessary conclusions to ensure the safety of our citizens and passengers.”
Emma Wheeler, Executive Director and Head of Women’s Wealth and UBS Global Wealth Management, visited Monaco this week to launch the first local edition of the programme, which aims to boost women’s financial confidence and participation in investment decisions.
“We could see that women were largely dissatisfied with the advice that they were receiving from their wealth managers. They felt misunderstood,” Wheeler told Monaco Life. “We always wanted to be part of the solution to that.”
The paradox is quite striking. While women are increasingly earning and inheriting wealth, they often step back when it comes to major investment decisions. Research shows that 51% of millennial women defer large investment decisions to their spouse after marriage, despite 88% being comfortable with long-term finance while single.
“In the average household, women are typically the CFO (the Chief Financial Officer),” Wheeler explained. “They set up the monthly budget, pay the bills. But male partners tend to be the CIO (the Chief Investment Officer) taking the lead on retirement planning and longer-term investments.”
However, this division extends beyond individual households. Only 4% of family office principals globally are women, and just 18% of portfolio managers in the US are female.
The seven-step programme
The Women’s Investment Circle, which has been running globally since January 2017, seeks to address this imbalance through education and confidence building. The dedicated financial education programme consists of seven-hour-long sessions designed specifically to speak to women’s need and concerns.
“What we’ve seen as we talk to our female clients around the world is that many of them lack financial knowledge,” Wheeler said. “That’s because women haven’t been part of the financial decision-making processes in their families over time.”
The programme covers topics ranging from an introduction to financial markets to more nuanced subjects such as “financial EQ” – what Wheeler describes as “the more emotional quotient of wealth”, and financial parenting, helping parents instil good money habits in their children from an early age.
Breaking down barriers
Mariana Mamou, UBS’s CIO, Head Advice Beyond Investing, explained that women’s hesitation around investing isn’t about risk aversion but rather about risk perception.
“We think that they are more risk-cautious,” Mamou explained. “Risk perception has to do a lot with experience and knowledge. If something is new, and you haven’t tried it before, it looks a bit scarier. The financial services speak in jargon, they’re not accessible and understood, make it intimidating.”
The approach though seems to be working. Once women do engage with investing, research shows they often outperform their male counterparts. “Women make more calculated risk decisions,” said Mamou. “They are more disciplined. They perform better. They become better investors.”
Wheeler agreed: “There’s less gut instinct involved in women’s decision-making when it comes to investing. So, you could say that they’re less emotional than men as investors.”
The timing of the programme’s Monaco launch couldn’t be more crucial. Wheeler highlighted what she calls “the great wealth transfer” – a historic demographic shift from the baby boomer generation to millennials and Gen Z.
“This wealth transfer over the next 20 to 25 years is going to be worth about $83 trillion, and the lion’s share of that will go to women,” Wheeler said. Recent research from Capgemini suggests that 57% of this transfer will end up in women’s hands.
“For the first time in history, we really are a serious economic force and owning and controlling more wealth than men,” Wheeler said. “But that’s why we need to get women investing right? Because otherwise, we’re going to face an economic hole.”
Different investment preferences
Both Wheeler and Mamou noted that women do have distinct investment preferences, though these often stem from education and experience rather than inherent traits.
“Women are more inclined to invest in themselves when they see that the investment risk also benefits from a social perspective,” Mamou explained. “There is more sustainability impact that blends in their interest.”
However, once women gain financial knowledge and confidence, their portfolios become more diversified and perform well. “The actual portfolio may not look different than men’s,” Mamou said. “We make great investors.”
Wheeler also noted a generational shift in women’s relationship with wealth. During a recent summit in Panama, a young female entrepreneur told her: “What’s different between my generation and yours is that I see female leaders all around me every day, because it’s in my social media algorithm.”
“I thought that was a fascinating point,” Wheeler said. “In my lifetime, for example, I’ve known of the Queen and maybe Sheryl Sandberg, but they were very distant from my actual world. But on your phone, they’re actually there. And that really is empowering.”
Getting started
For women looking to become more involved in investment decisions, Wheeler’s advice is to start small and build confidence gradually through trusted environments where they can ask question without judgement.
“That’s what we found is the biggest challenge…where do I get started?” she said, noting that UBS has developed tools specifically designed to help women overcome that first hurdle.
The Women’s Investment Circle in Monaco will offer local women the opportunity to develop their financial knowledge and confidence alongside other women facing similar challenges.
“Women make great investors,” Wheeler concluded. “We just need to get them over than first hurdle and build their confidence. The time for women to step up is now.”
AS Monaco’s Groupe Élite remain winless in the UEFA Youth League after a 4-2 defeat at the hands of Tottenham Hotspur on Wednesday.
Three games, three defeats. It has been a tough start to the Youth League for Monaco, who, after conceding five against Manchester City last time out, conceded another four against Spurs. “We’re not quite at the level defensively,” admitted manager Djimi Traoré post-match. “If we concede fewer goals, we have a lot of attacking players who can make a difference,” he added.
Among them is Joan Tincres, the scorer of a brace against Tottenham Hotspur. He is by far the most experienced player in what is an inexperienced side further depleted by the injury crisis in the first-team, which has seen players such as Bradel Kiwa, Aladji Bamba, and Pape Cabral fast-tracked into the first-team set-up.
Tincres still in Monaco’s plans
At this level, Tincres is something of a veteran, especially given that he has played professional football, on loan at Ligue 2 side Amiens last season. However, it wasn’t a positive experience for Tincres, who is now using the Youth League to rebuild his confidence and his young career. “His development was slowed down,” Traoré told us post-match.
He added, “He scored a lot of goals under my management last season, but he wanted to take the step to be in a professional team. I have a lot of respect for that, and so he went to Amiens, but it didn’t go well. The club is counting on him. I have told him that the Youth League is a chance for him to show the best of himself. He showed that he is on form today, but he is coming back from an injury; I promise you, though, this isn’t a Joan Tincres at 100%, that will be in about a month.”
Tincres in action against Spurs. Photo credit: Luke Entwistle / Monaco Life
If Monaco are to qualify for the next round of the Youth League, they will need Tincres fit and firing, especially given the current defensive fragility. It was thanks to the formidable Jules Stawiecki, a “special player” in the words of Traoré, in goal, that Les Monégasques kept in the game until the final stages. He made four excellent saves inside the first 20 minutes. “Even if he is a goalkeeper and has to make stops, too, it is thanks to him that we can play the way that we do, by playing out from the back. He is good technically, calm, and can break the lines. It is a relief to have a goalkeeper of his quality at this level,” said Troaré.
However, he was beaten by Oliver Irow who got the first of the game, finishing a cross from Luca Williams-Barnett. Tincres levelled before the break and then got his second the other side of half-time before Spurs’ comeback. Elijah Upson’s towering header meant that Les Monégasques’ lead was short-lived before Tynan Thompson allowed Spurs to retake the advantage. A red card for Kenan Moulangou left Monaco a man down and a goal down, and the Premier League side worked their numerical advantage to good effect, netting a fourth through Leo Black.
Traoré in contact with new Monaco manager Pocognoli
There is learning to do for Traoré’s side and also a need to adjust. The Groupe Élite mimics the first team in terms of style and shape in order to allow players who make the step up to quickly integrate. The effects of the managerial change and the arrival of Sébastien Pocognoli are naturally felt at youth level.
“It is the same style, the same principles,” highlighted Traoré, drawing the similarities between Pocognoli and his predecessor, Adi Hutter. “We are applying everything [from the first-team]. With the managerial change, I told the squad that it is a chance for everyone, the cards are re-dealt. It’s an opportunity for them to show that they can play at a higher level, but for some, the step is currently too big.”
Traoré revealed that he had spoken with the incoming Pocognoli, whose time to work with his new squad has been limited since signing on the dotted line during the international break. “It’s all new for him. He is finding out about the young players. From the conversation we had, he is happy with the young players from the academy,” said Monaco’s Groupe Élite manager. All signs are that, like Hutter, Pocognoli will look to continue integrating academy players into the set-up, and it was telling that first-team coaches Kevin Mirallas and Artur Kopyt were both pitchside for the match.
Providing a pathway for these players is the long-term aim. In the short term, Monaco’s academy must reverse the trend in their Youth League campaign and that is what Traoré hopes to do. “Why not take nine points from our last three games?” said Traoré. Easier said than done.
