What is the relationship between Bouygues and PARIS in the context of the input sentence. Choose an answer from: product/material produced; manufacturer; distributed by; industry; position held; original broadcaster; owned by; founded by; distribution format; headquarters location; stock exchange; currency; parent organization; chief executive officer; director/manager; owner of; operator; member of; employer; chairperson; platform; subsidiary; legal form; publisher; developer; brand; business division; location of formation; creator.

PARIS (Reuters) - French conglomerate Bouygues (BOUY.PA) raised its full-year core earnings and cost savings targets for its telecom business on Thursday as it posted a 51 percent rise in first-half group current operating profit.

Answer: headquarters_location