newsmaker: a street in Libourne, France, northeast of Bordeaux, was renamed avenue clement Fayat in May in honor of the French billionaire who 60 years earlier opened his first public works company, the national company for terracing, in the city. Libourne’s mayor joined Fayat for the unveiling. Fayat started the group at age 25 and was in charge until 2013, when he handed oversight to his two sons. He is now Fayat Group’s honorary president. He also owns three vineyards.