Archive for July, 2010
The entries of migrants to OECD countries declined by 6% in 2008, dropping to 4.4 million people. While in the previous five years, their numbers had increased by 11% per year on average, according to the latest OECD report on migration. The decline was further strengthened in 2009. The immigrants were, in many countries, the first hit by rising unemployment, particularly youth and those working in the sectors most affected by the crisis such as construction or hospitality.
OECD urges in this report on the need for States to strengthen their immigration policies which will play a crucial role in the long term to enhance growth."It is important to note that immigrants make a positive contribution to the national economy, especially in times of growth," remarks the Secretary General Angel Gurria free credit report.
And because of demographic changes and shortages of future employment, especially in health and engineering. Thus, maintaining immigration rates at their current level, the population of working age in OECD countries will increase by only 1.9% in the next decade. A percentage that contrasts with the 8.6% recorded between 2000 and 2010. The situation is even worse for France, which will decline by 1%, despite good numbers of births. The reason is that France has one of the highest immigration rate lowest in the OECD.
Often criticized by customers, the outsourcing of call centers to foreign countries is becoming a government priority. According to Le Parisien on Sunday, the record has been taken over by the Secretary of State for Employment Laurent Wauquiez. The latter is studying a plan of action to fight against the leakage of these jobs outside French territory.
To emphasize the installation of these centers in France, the Secretary of State may well introduce a surcharge "of calls from sites located abroad.Conversely, companies deciding to keep their call centers in France would receive the "nudges" as aid in recruitment, training, installation in rural areas or relief from social security contributions, believes Learn daily.
More transparency
Laurent Wauquiez would generally aim to "make practices more transparent" left to prepare "a list of poor performers. The fight against the relocation, however, looks very difficult. According to latest estimates, dating to 2008, the Union of professional contact center (SP2C), an employee of a call center Morocco is for example paid between 400 and 450 euros a month against a minimum of 1320 euro gross France (including bonuses and thirteenth month).The battle is also likely to face the refusal of the Commission in Brussels which could object to these tax measures.
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"The Post: public facing an unprecedented challenge, a necessary change." The title of the report of the Court of Auditors formally released Thursday speaks for itself. The government agency at a critical juncture. In debt and facing a collapse of its top market, mail, the Post will benefit from a capital increase of EUR 2.7 billion, provided by the State and the Caisse des depots. The two sides are negotiating the valuation of the company and hope to find common ground in late July.
In this context, the report of the Court was awaited. The sages of the Rue Cambon had already studied the Post in 2003.Returning to their audit work, they were able to measure the progress accomplished: modernization of industrial facilities, improved management of the company's … very positive developments, but that might not be sufficient "to deal deep and structural decline in the mail and opening the postal market on 1 January next competition within the Community. "
The dividends of La Banque Postale
To catch up, according to the Post Office should the Court's experts work on the cost of its network, delays in productivity and quality of its service. Especially as the company's management has adopted a strategic plan, "Ambition 2015", which assumptions are deemed voluntary by the Court. When The Post estimated the reduction in mail volumes between 2008 and 2015 to 30%, the Court suggested that he perform simulations starting with a scenario of a decline of 40%.
Jean-Paul Bailly, CEO of La Poste considers this as severe in 1 hour payday loans. For a leader, the company has shown, given the information available at the time of any possible reactivity to adapt to the collapse of mail. He recalled that in late 2007, "Nobody could anticipate the crisis" mail since, between 2003 and 2007, the total decline in traffic addressed had not exceeded 2.3%. Regarding the criticism on the quality of service, the CEO noted that the objectives set by the government have been exceeded in 2008 and 2009.
The banking subsidiary of La Poste, La Banque Postale, is also discussed. While the Court emphasized an increase in net banking income lower than expected, Jean-Paul Bailly emphasizes the exceptional resistance of La Banque Postale to the financial crisis.He returned to the strategy of developing new business banking (consumer finance, property and casualty …) partnerships. The choice "was in no way constrained by the priority given by the group to other investments."
It is a voluntary process that aims to accelerate the implementation of its services. In this regard, the Governor of the Bank of France in his own response to the report, asked the Post Office to ensure that its subsidiary "has the human skills and techniques required to address this market." The Governor also noted that the distribution rate of 45% of its income in the form of dividend proposed by the strategic plan of the Post Bank, would penalize a period "where capital must be strengthened."
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The successful launch of the iPad has sparked a fierce price war among manufacturers of digital tablets. For fifteen days, one after the other, manufacturers revise their prices downwards to counter the shock wave of the iPad. Most recently, Sony announced on Wednesday reduced prices of its readers to 20-50 dollars depending on the model. Its entry-level player, the Pocket Edition is now available at $ 149 U.S. instead of $ 169. Last week, the online bookstore Amazon was the first to respond, bringing the price of its Kindle reader digital format (DX) to 379 dollars, down from $ 110 …! At the same time, Amazon increased the comfort of reading his DX improving its display."With improved contrast of 50% and a darker font, it will be easier than ever to read anywhere, outside in the sun or the low light of the show, welcomed Steve Kessel, an official of Amazon. A few days earlier, the retailer had already created a stir by lowering the $ 60 price of its best-selling player, the average size at $ 189 … The same day, his rival, the American bookseller Barnes & Noble brought the price reader's Nook of 259-199 dollars, and announced a more affordable version yet, to 149 dollars, but connectable only by wireless Internet (Wi-Fi).
Run size
These manufacturers have little choice. Faced with the shock of the trade-iPad more than 3 million copies sold-June 22, they must adjust their rates to stay in the race.Unable to keep the same price range as the iPad (500 euros) which, aside from reading, surfing the Internet, listening to music, watch movies or videos, etc.. From a color touch screen . Faced with the branding of Apple Premium, the price argument remains the only real leverage at their disposal, apart from adding some features (touchscreen, color, play MP3 music files, etc..) . "In the race for size, market share, the price factor is one that can make the difference as shown by the positioning of Dell with its multimedia tablet Streak marketed in late July and announced at least 100 euros" Sylvain Duranton remark, associate director at Boston Consulting Group.
Price also depends on the conversion market niche in the mass market."As long as prices do not fall sufficiently, widespread adoption of such devices will be difficult," says the expert. A psychological threshold must be reached. "Based on our studies, if 66% of French people are ready to go nuclear, they will not do at any price: not more than 150-200 euros for a multi-shelf as iPad and more than 100 euros for a single-function tablet, reserved for reading, as the Kindle. "
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While industrial countries emerging from crisis levels weighted with historically high public debt, emerging markets display patterns much healthier. Their good resistance during the recession of 2009 and an underlying trend towards greater stability has attracted the interest of investors.
"We see a positive snowball effect on emerging market debt: a dozen countries have been under positive outlook by rating agencies, which herald a recovery of notes, analytical Anne-Sophie Girault, a specialist in this Market Aviva Investors. Moody's, Standard & Poor's and others see a positive view of the low debt ratio of developing countries, which averages less than 40% of gross domestic product. Twice as less developed countries.
The emerging markets have also gained credibility in the markets."They have improved their fundamentals, the local central banks are becoming more independent, inflation is under control and steering of public finances is good," Frank J. Nicolas, Natixis AM. And the economic outlook is much better than in Europe, for example.
Result: institutional investors have been interested for nearly ten months to market, providing stability. They take long positions. So far, only hedge funds were present in the short term, making the market very volatile. Today, the market is 360 billion of debt issued in dollars and 1.4 trillion dollars of debt issued in local currency.
Record demand
In this context, the demand for emerging market debt from the investment fund has beaten all records in the first half, according to the calculations of Aviva.At $ 31 billion, it almost reaches the levels of previous years in just five months.
Emerging now are they safe? "These are pseudo-safe investments," says Franck Nicolas. "Beware of Loved tobacco." Clearly, the emerging countries are always a risk of sudden reversal of the situation. And if their fundamentals, growth, inflation, debt-positive, "markets, very nervous now, can still cause a contagion" of the debt crisis in emerging countries, recognizes Anne-Sophie Girault.
"If we do not change policy, we will in the wall." Jacques Attali, President of PlanetFinance and author of a book entitled "All ruined in ten years? Public debt: the last chance "does not beat around the bush. After a week when financial markets are worried about the emergence of a new recession, former adviser to Francois Mitterrand and confirms that the government must halt the rise in public debt. And for this, a policy of austerity. "We're on the brink of a global deflation as it has ever seen for a century and a half," he said.
In alarm that has not failed to react as President of the European Central Bank (ECB). "I do not think the risk of a recession.Globally, it is clear that we are in a recovery phase, confirmed particularly in the emerging world, but also in the industrialized world, "said Jean-Claude Trichet. That did not stop to be careful. "Growth is not written in the industrialized world, it depends on the ability of countries to strengthen the confidence of households, firms and enterprises," he says.
Grand European loan
Europe is not doomed to stagnation. According to economists, big bosses and politicians gathered in Aix-en-Provence Economic Forum for the Old Continent has to reform, reduce deficits and build on innovation. "Without policy change, the growth potential of Europe for the next ten years will be around 1.3% to 1.5% per year.We would then take years to regain the levels of unemployment pre-crisis, "says economist Christian de Boissieu.
For this, the Circle of economists in favor of a large loan eueuropéen, referring to the one established last year by Nicolas Sarkozy. The idea is, like its sister French, invest in innovation, green technology or education. "Innovation and services are crucial. The deindustrialization of the United States had no areas of very high technology, because they have attracted the intelligence world, "says Louis Welsh, president of EADS.
"Place of Culture and Tourism
The question is how to articulate these priorities, fiscal consolidation and sustaining growth -. Hence the idea of an overhaul of EU policies.In short, Europe must "change the growth model," according to former Prime Minister Alain Juppe. "The EU lacks coherence between its short and medium term focus on reducing deficits, and the long term that seeks to promote investment in the knowledge economy," says economist Agnes Benassy-Quere.
Far from being able to display growth rates comparable to those of emerging countries, Europe has every interest to agree on next steps. Otherwise it will be reduced to "a place of culture and tourism," says Jean-Hervé Lorenzi, President of Circle of economists.
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