Archive for December, 2009
The gross public debt (government, social security and local authorities) continues to rise. At the end of the third quarter, gross debt under the Maastricht amounted to 1457.4 billion, up from 29.4 billion the previous quarter, according to figures published by INSEE on Tuesday. "Expressed as a percentage of GDP, it is approximately 75.8%, up 1.9 points," says the National Institute of Statistics. In the second quarter, the debt had reached 73.9% of GDP.
The increase over the period, less than that observed in the second quarter (61.1 billion euros), was driven in particular by the increase in debt of the state. To finance the budget deficit, the state has cut its debt of 23.4 billion euros.The debt has also funded a stake in the Company making state participation in a French bank, Cr?dit Agricole 3 billion, INSEE said.
The social security funds have also contributed to the increase in gross public debt to the tune of 5.9 billion euros, "particularly as a result of increased indebtedness of the ACOSS (3, 9 billion euros), "details the INSEE.
The government has included in his bill to finance the debt was still progress to 77.9% of GDP at the end of the year. In 2010, it expects debt to 84% of GDP, without taking into account the large loan.
Moreover, net public debt, which includes cash and short-term is highest increase over the period, the gross debt.It was heavy with 57.1 billion euros over the second quarter, rising late September to 1331.5 billion. In case a "sharp decrease in cash of the State (-28.3 billion), returning to a level close to that of a year ago," said INSEE.
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Five-star hotels in France? Yes, it is possible since the introduction in June by the government, a new classification. The list already has sixty places, especially in Paris, Courchevel and the Cote d'Azur. For hotels, a small revolution is underway. Their institutions were previously rated by criteria that had not changed since 1986 and they did not understand that the fifth star has long existed abroad. The world record is held even by a hotel worthy of megalomania, the Atlantis Palm in Dubai, which displays seven stars!
"In Portugal, there are 6 star hotels which are no better than our 4-star, said Georges Panayotis, founder of research firm and consultancy MKG.And even for congresses, the French destinations were penalized with no five-star hotels for VIPs. "
According to Herv? Novelli, Secretary of State for Tourism, some 200 hotels could eventually claim win five stars, including 30 to 40 with an additional distinction reserved for best of the best, the "palaces".
But the goal that the government had set, finished 2009 with a hundred five-star hotels will be missed. "The application process was somewhat longer than expected. But the candidates are there, "he defends one in the entourage of the Minister where there promised that the establishment of a new procedure will go faster next year.
"It's not very complicated to have the fifth star, half of the 750 four-star hotels can claim without doing much work, yet adds Georges Panayotis.But with the crisis, many are reluctant to ask. Applicants were fewer than expected. Be a candidate takes time and money. Vis-?-vis a business clientele, this is not the time to raise prices and display an image of luxury. Some employees have instructions from their companies do not reside in five star hotels. "
Then there are the unsuccessful applicants. Reportedly, about 15% of cases were retoques.Among the mandatory criteria, which require the most hoteliers questioned: the size of rooms, room service 24 hours on 24 or even the use of two languages by staff, including English.
A bid of 70 000 ?
In the district of Saint-Germain-des-Pres in Paris, the Hotel Bel Ami (four stars) was in the starting blocks in the month of June to submit an application. He has still not done, but considering the first quarter of 2010. "Other priorities have taken over as the work of redecorating in a few rooms," says Vincent Tissier, Director General. But we remain candidates, while some of our competitors are reluctant because of the economy. "To comply with the new schedule, he has already made investments. He equipped the rooms with a service and an extra chair.It also increased the number of electrical outlets, bought lamps and roof rack. "For us it is an application to ? 70 000," says Vincent Tissier.
The hotel part with a disability are 15 rooms for less than 24 square meters, the minimum area required. "We do not fulfill all mandatory criteria, but we have our chances because we can compensate this problem by gaining points optional," says its director. In Bel Ami, there is indeed "a spa, meeting rooms, a hall larger than the minimum required, a team of janitors, many more points for the fifth star. Whatever happens, Vincent Tissier is serene: "For teams, it would be a satisfaction. The U.S. travel agencies are also susceptible.But the provision of Bel Ami and its price will not change. "
Avenue des Champs-Elysees in Paris, the Fouquet's Barri?re was among the first to win his fifth star in June For this, he installed air conditioning and WiFi in the restaurant Fouquet's classified and bought 27 blankets. The hotel was rated four-star luxury since its opening in October 2006. "As we were the last to arrive on the market, we wanted to be the first to have five-star hotel with a very good note," said Eric Boonstoppel, general manager of the Hotel Fouquet's Barri?re. We have lost a few points marginalized because, for example, the telephone line is directly in the room on request. Vis-?-vis our international customers, visibility and legibility are important. But we do not mean increased prices.If the government wants to create a category "Premium" We are ready! "
The consumption of manufactured goods rose more households in November. After an increase of 2.3% in September and 1% in October, the index has shown quasi-stable -0, 1%, according to figures from INSEE.
Despite this slowdown, "the last quarter will be exceptional," states Dominique Barbet, economist at BNP Paribas. "Already, we can build on 2.3% growth in consumption from October to December, the biggest increase in ten years."
The November figure was supported by strong buying automobiles rose 4.2%. "The household benefit last months of premium breaks down before his scheduled first next January, said Insee.
"Contrary to what one might fear, the car sales have not cannibalized other items of household expenditure," says economist of BNP Paribas.Other sectors, they fell for some, have not fallen sharply.
Spending on equipment housing is growing even if they slow down to 0.2%, against 2.1% in October. "If they keep their spending in electrical and electronic, are households have reduced their spending on furniture," said INSEE.
However, the week of floating balances authorized in November did not save the textiles and leather. Purchases fell 1.8% in November, two months after dynamic (+2.4% in October and 3% in September). Probably because of mild weather that has not prompted the French to equip themselves for the winter.
Limited impact of unemployment
In 2009, INSEE expects a limited increase in consumption of 0.7%, after 0.9% in 2008."Unemployment has not been in France very negative impact on consumption, unlike what happened in other European countries, thanks to measures directed at low income," notes Dominique Barbet.
Consumption is the traditional engine of French growth and growing at a rate of 2 to 2.5% until 2007.
The new center-right government led by Angela Merkel won this Friday's first showdown managing to impose a package of tax breaks very controversial. After leading the revolt against the camps, the regional states Conservatives have finally adopted the plan to "stimulate growth" in the Bundesrat, the upper house of Parliament, by voting the 8.5 billion tax cuts promised by the Chancellor . These measures, intended to provide a boost to growth, will take effect from 1 January 2010.
The law includes an increase in family allowances, relief of estate costs and lower tax rates on value added tax (VAT) in hotels. The Chancellor and his ministers have negotiated hard these days to convince the heads of recalcitrant regional government by promising billions of euros in compensation.Including Saxony and Schleswig-Holstein, whose finances are particularly vulnerable by reducing taxes.
Reticence of "wise"
Failure before the Upper House would have been a blow to the government, in place since late October, and whose beginnings have been chaotic, marked by infighting and controversy. The Minister President of Hesse, Roland Koch (CDU) has welcomed this "step in the right direction.""This is an important signal showing that the L?nder black-yellow (conservative liberals) support the federal government black-yellow," he said.
The government of Angela Merkel has also exceeded the reluctance of the Court of Auditors and "wise", the government's economic advisers, and many economists, who consider irresponsible to offer tax breaks while Germany plans to contract a debt record 100 million euros in 2010. They also believe that these tax incentives will not impact on growth.
In its coalition agreement the Liberal-Conservative government of Merkel provides additional tax cuts of around 24 billion euros in 2011. Roland Koch prognostic already "talks tough and violent," to take the next tax cuts.
Christine Lagarde put an end to speculation. On leaving the Council of Ministers on Wednesday, Minister of Economy announced that the bonuses paid in France by the banks for the year 2009 will be taxed at 50% from 27,500 euros. The France decides to follow the same model announced last week by the British government.
"This is a proposal had been President of the Republic August 25 last, much has campaigned for it to be internationally accepted. Now a British proposal and French and I will defend to Parliament in January, "said the minister.
Christine Lagarde also suggested that this "tax exceptional exceptional circumstances" would not be renewed. Information that had already been raised in the common platform of Nicolas Sarkozy and Gordon Brown, published by the Wall Street Journal.The measure should be included in a draft supplementary budget.
According Bercy, between 2,000 and 3,000 traders will be affected.
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China moves away from deflation. With a rise in the index of consumer prices for the first time since January (0.6% in November, a year), the figures published by the National Bureau of Statistics announced the end of a deflationary movement, or at least its slowdown. Of the first eleven months of the year, the index remains in negative territory -0.9%.
This index, which goes into the green could bring the Chinese government economists to rethink the current monetary policy is highly flexible to support the recovery.
Industrial production for its share jumped 19.2% yoy in November, after rising 16.1% in October.Jing Ulrich of JPMorgan said that "industrial activity will continue to grow thanks to strong domestic demand and improving exports.
With 19.09 billion dollars more in November, the trade surplus since the beginning of the year totaled 177.96 billion. Regarding investment in fixed assets in urban China, they rose 32.1% year on year between January and November, against 26.8% over the same period of 2008, according to NBS figures.
In November 2008, before the Chinese government launched an ambitious plan to revive the economy on some 400 billion euros of expenditure, particularly in large infrastructure projects.For many economists, the recovery of activity, coupled with rising exports and strong growth in Chinese gross domestic product in 2009, could lead to an appreciation of the yuan in 2010.
"China is emerging OECD recession
The staff of Leica range in France climbs in France. No more view on the device and Gennevilliers. The teams of the prestigious manufacturer of optics and cameras, whose headquarters was located in the suburbs of Paris for 25 years, have won the exchange. Now they literally dive on Lake Annecy in Savoy, where an old factory has been refurbished to accommodate the fifteen employees at headquarters. "We carry nearly a quarter of our turnover in optics, said St?phane Manara, the manager of Leica Camera Western Europe.It was difficult to offer our customers to try before you buy if we gave a large surface on the device.
The lucky few who spend an average of 5500 euros for a box and from 2,000 to 8,000 euros for the optical can now follow short training courses in outdoor seat in the new Alpine Leica 350m2 terrace where they are dedicated.
Another major innovation for the brand fetish Cartier Bresson: a shop owned outright by the company was opened in the 16th arrondissement of Paris, Rue de la Pompe. Others have also opened in London, Tokyo and Moscow. Until then, the brand had on reseller partners. But leaders of the German company wanted to better control their distribution.Especially in recent months, the manufacturer has launched several new digital cameras aimed at different audiences: The S2 for professionals, the X1, a compact for a wider audience and the M9, the first 24X36 trademark. Not forgetting his first monocular pocket for hikers
President of Leica Acting, Andreas Kaufmann, the representative of the family owns a small cottage industry, announced in 2008 the deployment of a twenty Leica shops in the world and "shopping shops" nestled in large signs. Since last spring, Andreas Kaufmann has passed the torch to Rudolf Spiller, the new CEO of Leica, Zeiss former. The latter must take Leica red where it fell this year. Indeed, the group posted a net loss of 4.8 milion euros (against a profit of 3 million) for a turnover of 134.2 million.
When the SGC prepares to launch a takeover market … the powerful Caisse centrale social activities (CCAS) of electricity and gas industries, the equivalent of a supercomit? company EDF and GDF, managed by the communist union , the well would hand over the Compagnie Internationale Andre Trigano (CIAT), publicly traded company valued over 80 million euros. The company, better known under its consumer brand Camp?ole, is a specialist camping and tent.
The operation should be discussed at the Board of Directors of the CCAS Wednesday. It creates a stir internally. One branch of the CGT, the CGT union Ectam-Staff headquarters EDF and social organizations, objects."The case is disproportionate," denounces the union in a statement.
The central fund social activities is the biggest works of France, with a budget of nearly half a billion euros and over 3 000 permanent employees. Its management has been pinned in the past by the Court of Auditors. As part of its operations in recreation for employees of EDF and GDF, it already manages 60,000 beds in holiday resorts, including 48 000 of which he owns. By placing hands on the Trigano group, it would greatly enhance its ability to host. To become the first player in the sector. The CIAT is the leader in three-star campsite with 43 sites and 14 000 places, which would correspond to about 72 000 beds. It also has a second activity: the manufacture of tents and canvas bungalows.In total, the company achieved a turnover of 43 million euros last year and suffered a loss of nearly one million.
Several applications
The story begins at the time of the first paid leave, with a workshop created by Raymond tarpaulins Trigano, father of Andrew, who is developing the "triganette, a family tent where you can stand. Andrew continues the adventure after the war, while his brother Gilbert resumed Club Mediterranee, which leases its tents in the family business.
The founder and his family still control over 30% stake in the company whose majority shareholder is the fund managed by Groupama Acto. Its Listed raises other applications than the CCAS. Bernard Laporte is interested too, so that Promeo, which owns the Village Family camping.
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