Archive for September, 2010
The euro continued its ascent against the dollar increasingly weakened. On Wednesday, the euro hit a new high for more than five months to $ 1.36. A series of disappointing indicators have revived in recent days on concerns of U.S. growth markets.
"So we expect to see the Fed increase its purchases of government bonds to support the economy, as it has announced. It finances the purchases by printing dollars. The mass of greenbacks in circulation may be exacerbated, and that currency drops very logically, "says Patrick Fraguier, head of strategy at CAAM.
The greenback's decline is an effective way to boost the competitiveness of the U.S. economy. "A non-cooperative game among states is set up. The foreign trade deficit will slow growth in the United States, which have the reverse.However, China does not revalue its currency. Americans are forced to leave their spin, "says Patrick Fraguier.
The yen also makes the cost. But the Japanese monetary authorities, worried about the Japanese economy, already intervened to limit its rise and could recur.
The ECB does not intervene, her on the forex market, the euro could continue to appreciate among the major currencies. But the euro area also has weaknesses that can weigh on its currency: a heterogeneous back, Shortage of current tax, debt and concern in some states.
It did not do more to celebrate Hervé Novelli, Secretary of State for Small and Medium Businesses always quick to point out the benefits of status autoentreprenor he wore. According to a report commissioned by the Minister, unveiled on Monday in the daily La Tribune, autoentreprise would be a weapon against illegal working.
According to figures from the study, nearly one quarter (23%) of current autoentrepreneurs have indeed benefited from this new status to "formalize" an activity they were already. Only 11% of autoentrepreneurs have also created a traditional business if they had not benefited from that status. "This proves that the simplification of the devices, reducing taxes is the best weapon against illegal working," says Secretary of State in the business daily.He added that he hoped that the simplification of other articles of companies produce the same effects.
1.1 billion euros in turnover
According to the report, the unemployed represent only 22% of autoentrepreneurs, against 45% for individual entrepreneurs. The text is also reassuring success autoentreprise it finds it "not particularly fragile," compared to other structures. 12% of autoentreprise created in 2009 and ceased their activity after one year against 18% of new businesses new "traditional". Furthermore, the turnover generated in the first half of 2010 by autoentrepreneurs reached 1.1 billion euros.is more than all of 2009.
No unfair competition
Finally, other information revealed by the report, only a minority of business leaders 'classic' autoentreprise denounce as unfair competition. They are less than a quarter in total to consider that competition autoentreprise is higher than other companies. Artisans construction sectors are still the biggest critics of the status and confess "very concerned" about their development.
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The French Football Federation is not ready to forget the World Cup in South Africa. In addition to an athletic performance unworthy of his status, Team France has reported a disastrous image (insults from Nicolas Anelka to the national coach, Raymond Domenech, players' strike …). Suddenly, the sponsors, most remained faithful to the FFF, despite their discontent, seeking redress. They reached their end. "We negotiated with our partners in the repair of damages, amounting to 4.5 million euros," said Bernard Desumer, the treasurer of the FFF.Reimbursement without doubt facilitated by the decision of the Blues to waive their bonuses in terms of sponsorship, which enabled the federation to make a saving of 2 million.
States General of football late October
But this refund has necessarily an impact on the financial statements for 2009-2010 of the FFF. Validated by the Federal Council of the federation, they show a deficit of 1.36 million. Revenue amounted to 199 million euros, down 12.7 million (-6%), and expenditures 200.4 million euros."The year 2009-10 was an excellent bill if he had not held a very serious incident in South Africa June 20 (players' strike of the France team, Ed), treasurer of the relativized FFF, recalling that "when the General Assembly in June 2009 in Reims, the budget was built on an operating deficit of 2.9 million euros."
The campaign of the World Cup has yielded a positive result of 600,000 euros.However, the application for the organization of Euro-2016 has resulted in expenditure of 2 million and the compensation paid to the marketing company Sportfive, after the contract ends June 30, s' raises to 2.4 million.
Conflict with its former employees
So that must be held at the National Institute of Sport's expertise and performance on 28 and 29 October of the States General of football, Bernard Desumer not worried. "For us, this is not a problem to submit a budget deficit because our goal is not financial but to ensure the development of football. In the overall budget of the Federation, with football fan is 40 million euros so we had ample opportunity to present a budget surplus, it would have been enough to draw support to amateur football, what we don ' have not wanted to do, "he concludes.In conflict with Raymond Domenech, the former coach Gerard Houllier and the former national technical director, the FFF is found in an awkward position before the States General of football.
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After the fifth day of action since late March against the pension reform, a clear line separates the central unions.
There is one side the "diehards" who hope no progress senators. FOR, FSU and Solidarity (SUD) are calling the "withdrawal" of the bill, "non-negotiable, non-amendable" to them. These three centers offer to move to the next level and call for renewed strike. CGT rocking slowly in the camp, while not requiring the withdrawal of the text, and relies on the mobilization to roll back government.
While rejecting this reform "unfair and unequal", the other unions are expecting a number of advances to the Senate. "They understood that the government would not back on the fundamentals of the law and they try to improve at the margin", decrypts an expert in social relations.This is particularly the case of the CFDT, a duet with the UNSA.
"Elected officials are saying that we are right"
The plant led by Francois Chereque wishes to grant to all employees, automatically, a year "free" premium for ten years of exposure to psychosocial strain at work (night work, noise, vibration, contact with carcinogenic … ). It also calls for maintaining 65 years of retirement without discount, at least for women and casual workers for careers fragmented. This measure would cost about 3 billion euros per year, with the Central Reform also proposes to save by limiting the increase of 10% of the pensions paid to fathers and mothers of three or more children same day payday loans. "We can redeploy unfair to finance family benefits some progress," explains Jean-Louis Malys, M. Retreats CFDT."There's a real openness on these issues," he hopes. Senate President Gerard Larcher, has been an open time for reflection, but the Elysee slows the four irons.
The CFE-CGC plays his own music. She seeks to create new resources, as in the public, a "shield retirement guaranteeing private sector employees a specific replacement rate (pension amount from the previous salary).
The union executive has two other claims: taking into account the contribution period, years of study or, alternatively, qualifying periods (the Assembly has agreed in principle but referred its terms of entry in force to a report published in 2011 by the government) and the abolition of the income ceiling for receiving a widow's pension in the private sector (which prevents widows and survivors earn income from work).
Two themes "on which many politicians from the majority tell us that we are right," says Daniele Karniewicz, the representative of the CFE-CGC, but not among the flexibilities envisaged at the Elysee. "For the Senate to show that they have a genuine autonomy, as they claim," says Daniele Karniewicz … without excessive optimism.
Finally, the CFTC hopes to persuade senators to raise the CSG and allocate the resources generated in the pension industry.
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A giant American hotel is about to transform the old courthouse in Nantes in a hotel with 142 rooms Radisson SAS. Scheduled to open in 2013. In the Philippines, Carlson opens next week a brand new hotel with 400 rooms in the country's second city, Cebu. He is also preparing to open in spring 2012, a new resort with swimming pools and tennis in Corsica, near Porticcio …
The American family group Carlson, owner of hotel brands Radisson, Country Inns & Suites, Park Inn and Park Plaza, goes into high gear by accelerating the pace of opening its hotels worldwide. The goal is ambitious: he wants to get their number from 1075 to over 1500 by 2015. 250 are already under construction, in partnership with real estate investors (Carlson owns less than a hundred hotels).
"We are the ninth global hotel group, Le Figaro said Hubert Joly, president and CEO of Carlson. Our brands have a strong development potential, especially in emerging countries. " In India, the group intends to use more than one hundred hotels by 2015. It already boasts a leading position in the country with about thirty institutions. "There are many hotels in India than in New York, noted Hubert Joly. This room is 0.1 per 1000 inhabitants, while it is 15 U.S. and 10 in Europe. " China is also one of its priorities. Carlson is already ten hotels. It plans to open ten more by 2015."China today is overcapacity, but the trend is reversed with the global economic recovery and development of the middle class in China," he justified, noting that currently there are only 2 rooms per 1 000 inhabitants in China online payday loan lenders.
Upmarket
United States, the priority is more upmarket than growth. The Carlson group operates 649 hotels across the Atlantic, and the park has missed his last years of renovations. There will spend 1 to 1.5 billion by 2015, while preparing to open two flagship hotels Radisson SAS in Chicago and Minneapolis, the city headquarters of Carlson.
Last year, Carlson has generated a turnover of 40 billion dollars in the minority with its hotels.The band is indeed also present in the restoration (1000 establishments, under the brand TGI Friday's mainly) and especially the travel business with Carlson Wagonlit Travel, which performed last year $ 25 billion of business volume . Ironically, France is a small country for Carlson, while its owners – the heirs of the founder Kurt Carlson – chose to lead a French group. There are only 23 Radisson hotels in France. "We did not set a numerical target for development in France, acknowledges Joly, knowing that three hotels are under construction (in Nantes, Corsica and Defense). If TGI Friday's is destined to grow outside the U.S., it will be mainly in emerging countries."Our goal is 500 TGI Friday's off U.S. by 2015, said Hubert Joly, but we have no plans openings in France."
In travel, the group has recently teamed up with New Frontiers, to transform its 350 travel agencies in the Carlson brand Havas Voyages.
In China, vehicle manufacturers have engaged in a frantic race to production capacity. Last listing day, the Japanese Nissan, owned 43% by Renault, said Monday it plans to nearly double his own, to be of 670,000 vehicles per year to 1.2 million by 2012. Either a higher target of 200,000 cars to the group had set last May.
Number three in China, behind General Motors and Volkswagen, but to his compatriots Toyota and Honda, the third largest Nippon Account systematically increased "capacity" so as to not only maintain our market share, but also to try the increase, "said Carlos Ghosn, CEO of Nissan and Renault. His ambition: to rise from 6% currently to 10% eventually.The German Volkswagen has also doubled in size to produce 3 million cars in 2013-2014.
Became the biggest car market in the world last year with 13.6 million vehicles, China has been of Eldorado. This year, sales could rise by 20%, exceeding 16 million copies. After a slowdown in the spring and early summer, they jumped 56% in August.
In recent months, Nissan has not hidden its size in China no longer allowed him to keep pace with the market. First step, Monday inaugurated its first plant of 4 × 4, in Zhengzhou, in central Somalia. It is a joint venture with its local partner Dongfeng, with an annual capacity of 180,000 cars.The group plans to expand alongside two other sites in the country.
Renault Nissan could join in China
Carlos Ghosn confirmed that Renault still absent from this market, did not intend to start immediately its own production site in China. But the French could reach in time the joint venture with Dongfeng Nissan, "he added.
Nissan, Renault, wants to become the world's leading electric car, also fueled strong ambitions in this field in Asia. "The electric car has a great future in China," Ghosn hammered. The Chinese government has in effect set a target to win the next ten years as the leader in this technology.He has been announced before it would launch a five-city pilot program to buy premium "clean" vehicles, which could go up to about 7200 euros for the acquisition of an electric car.
Only problem, the country's government is working on a plan intended to define the modalities of transfer of technology to foreign companies wishing to produce hybrid and electric vehicles in China. A preliminary draft, making it obligatory transfer of technology's most strategic, has raised concerns among builders.
But Nissan is already in talks with Dongfeng to transfer its technology for electric cars in China, according to the agency Dow Jones. Nissan and Dongfeng Electric Leaf occur together on site. "There is no limit to the technology that we bring in China," simply stated Carlos Ghosn.
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No sensational trial. Toyota, whose image has been tarnished by the unprecedented wave of recalls that he suffered last year, just to amicably settle a complaint that could make a big splash, reports the Los Angeles Times on Saturday . The dispute is linked to a fatal road accident near San Diego, California, last year. The American newspaper said that the manufacturer told a California court of this Agreement amicably by letter, without providing details on its contents.
By August 2009, a police officer, Mark Saylor, rent a Lexus ES (a model of Toyota's luxury brand) to the dealer Bob Baker Lexus. Mark Saylor, his wife, daughter and brother are killed in a road accident which, according to investigators, was caused by a mat hung badly.But according to the counsel of the dealer, electronic malfunction is the cause of this fatal accident.
It is precisely this accident which led to the largest campaign recalls the history of Toyota. The manufacturer recalled the last year about 10 million vehicles worldwide, the vast majority in the United States, primarily due to problems of unintended acceleration. These problems, for which Toyota is the subject of dozens of complaints, have caused at least 71 accidents and 89 deaths in the United States.
Record Fine of $ 16.4 million
This crisis will cost the Japanese group personal loans for people with bad credit. Accused by the U.S. government of having concealed his problem accelerator pedal for at least four months, Toyota has agreed last April to pay a record fine of $ 16.4 million (12.2 million euros) American justice.New blow in late August. The manufacturer has launched a new campaign to recall the United States, on 1.13 million Corollas, his bestseller. This time for an engine problem.
If Toyota's quality reputation has been seriously shaken in the U.S., the group's performance did not suffer too much. For its first quarter (April-June), Japan signed its best operating profit in two years. Its net profit reached 190.4 billion yen (1.68 billion euros), against a loss of 77.8 billion yen a year earlier. Better still, its sales rose nearly 30% over the same period, with 1.8 million vehicles sold.
The manufacturer has even revised upward its sales targets for its fiscal Car 2010/2011, now provides to sell 7.38 million vehicles worldwide, against 7.29 million previously.
(With AFP)
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New episode in the standoff that opposes Total employees to its site of Dunkirk. This Friday begins the court hearing Grande Instance de Nanterre, seized by the oil giant that refuses to resume the refinery on the site.
In September 2009, Total had decided the temporary closure of the refinery, which employs 367 employees and subcontractors. Then, on March 8, the tanker had finally announced the final closure to overcapacity.
Turnaround in late June: Total is sentenced by the Court of Appeal of Douai for failure to inform the staff representatives. The tanker should reopen the site and resume refinery operations under penalty of a fine of 100,000 euros per day.
Operations degassing
But after more than nine months off, the site can not immediately resume production.The band launches and activities that degassing mid-July, in fact, may equally well lead to the resumption of the production and conversion of the site. At the same time, the tanker takes steps before the Tribunal de Grande Instance of Nanterre and decides to make an appeal to the Court of Appeal of Douai.
Determined not to restart the refinery at Dunkirk, Total trying to save time, angering employees who suspend operations for a degassing semaine.Ils however fail to pay the total daily fine of 100,000 euros for not have to start refining oil.
Total assigned Nanterre Friday the CGT, the central works of refining sector and the works of Flanders. The decision of the High Court is expected to be soon fixed on the future of the site after a year of uncertainty.
The CAC 40 will not record sixth consecutive increase. The Paris index was down 0.50% to 3755.64 points. The London Stock Exchange closed down 0.21% to 5555.56 points and the German Dax was down 0.11% to 6268.20 points.
While optimism reigns on Asian stock markets (Tokyo gained 2.3% at closing) and the euro remains very close to 1.3 dollars on Wednesday, the CAC 40 does not seem to be attempting to attack its highest in July at 3803 points. A new test and a break of this resistance would be bullish with strong implications in the crosshairs next resistance at 3,858 points.
In France, the number of new businesses was up by 3.5% in July.In the euro zone inflation slowed in August in the euro zone to 1.6% over one year after 1.7% last month, said Wednesday the European statistics office Eurostat confirmed its preliminary estimate.
In the U.S., industrial production in the U.S. rose 0.2% in August. An increase in line with expectations, which marks a slowdown compared to July (0.6%). For specialists Aurel BGC, this statistic is mixed with a sharp decline in auto production, but the first regional survey on the month of September, are more positive, as indicated in the "Beige Book" published by The Fed last week.
Exchange market moderated
In Europe, the euro benefited from the enthusiasm of the markets on the continent and touches the bar again on Wednesday of $ 1.30.A course that has been taken to increase Tuesday night.
While the yen reached new highs each day, the Japanese government has decided to sell massive amounts of yen, a first in six years. Shortly after, the dollar has fallen over the symbolic 85 yen.
EADS on the tanker flexible
EADS (-0.47% to 19.09 euros) is willing to adjust its bid for the tanker market in the U.S. Air Force if it requested a final review of proposals, said Tuesday night Ralph Crosby, Chairman the North American subsidiary of European aerospace and defense. The World Trade Organization on Wednesday condemned the "massive subsidies" received by U.S. manufacturer Boeing at the expense of its European rival Airbus.
EDF (0.81% to 32.55 euros) Tuesday said the issuance of bonds maturing in 2050 amounting to one billion pounds sterling.Moreover, the energy company could partner with other nuclear giants Areva and to support its bid to compete, according to Les Echos on Wednesday. But for now, its Chinese partner CGNPC does not meet security requirements online cash advance.
Total (-0.75% to 39.13 dollars) said Wednesday that its production of oil and gas would be stable in 2011 although it still intends to grow by 2% per year by 2014, thanks to the contribution of new projects.
The Franco-Belgian bank Dexia (0.41% to 3.40 euros) is expected to announce Wednesday new job cuts at a works council meeting in Brussels.
Values motor head
On the CAC 40, Peugeot and Renault are to appear at the top. PSA, highest increase of ACC wins 3.96%.Morgan Stanley raised its recommendation from "underperform" to "outperform" with a price target to 34 euros 27 cons. Renault gained 2.85% in the wake of its partner Nissan (4.01%) which benefited from the intervention of Tokyo Bank of Japan to stem the yen's appreciation.
The European Commission is examining how to give the court decision invalidating the green light from Brussels in 2004 with the acquisition by Wendel (+0.12% at 46.05 euros) a part of the publishing assets redeemed Lagardère (-0.93% to 29.87 euros) to Vivendi (-1.28% to 19.57 euros).
On television, France Televisions meets TF1 (0.86% to 12.32 euros): the group is ready for public broadcasting limited sponsorship on its antennae.
The group Orpea (2.25% to 32.07 euros) on Wednesday announced an increase in its half year results thanks to growth of its real estate, and confirmed its targets for annual sales up 2012.
The French group Mersen (ex-Carbone Lorraine, 4.20% + 30 EUR) has revised upwards its forecast Wednesday event for the current fiscal year, which should see organic growth "double digit" while generating an operating margin above 9.9%.
The supervisory board of SeLoger.com (1.20% to 38.07 euros) estimated that the bid of Axel Springer did neither reflect the intrinsic value or growth prospects of the company, said on Wednesday the group of small ads Internet. The group of German publisher Axel Springer announced on Wednesday that he will not go beyond 34 euros per share.
Casino (-0.14% to 69.18 euros) and Tesco are among the remaining candidates vying for the takeover of Carrefour stores (0.28% to 37.72 euros) in Southeast Asia, have said Wednesday sources close to the matter. Carrefour wants to sell its stores in Malaysia, Singapore and Thailand to focus on markets where it is in a strong position. In Asia, it has already withdrawn from Japan and South Korea.
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