Archive for the 'special' Category
5 000 participants in round tables, 800 proposals from across the territory, hours of debate … Put the issue of competitiveness at the heart of the debate: it was the whole purpose of the General Industry. Today, while traveling at Eurocopter in Marignane (Bouches-du-Rhone), Nicolas Sarkozy will close the first phase of work completed since last October by announcing a series of steps to a new industrial policy 'ambitious, powerful and consistent, in the words recently used by the Elysee.
I must say it is urgent.Beyond the occasional cases in which the government provides the voice for several months (Heuliez, Molex, Total …), de-industrialization of the country is evident for several years: between 1980 and 2007 its contribution to national wealth rose by 24 % to 14% and, over this period, its numbers have melted to a trickle, from 5.32 million to 3.41 million – a drop of 36% of its workforce, according to estimates by the Treasury Department.
Accompanied on Thursday morning from the Minister of Economy Christine Lagarde, and his industry colleagues, Christian Estrosi, the head of state should take over the main proposals ginned in recent months by the companies themselves, partners social and ministers themselves.
To restore the industrial base of France, the government initially advocated a policy of industry.Because it takes a more balanced relationship between contractors and subcontractors, instead of a relationship "to dominate dominated" commonplace today. The establishment of investment funds sector for the most strategic channels to digital, energy, transportation, pharmacy … – with the participation of principals, should be announced.
Governments also want to encourage employment – particularly in developing mentoring by senior citizens and reorganizing the training – and the location in France of production tools and research."It is not normal that BMW produces nearly three quarters of its cars in Germany and Renault do not produce only 25% in France, likes to cite the example of Christian Estrosi.
On the one billion euros dedicated to general statements in the large loan, 185 million have also been planned to provide repayable loans to companies wishing to reinvest in France. A total of 500 million for loans at subsidized rates for green investments is also provided in this framework.
Innovation, a perpetuation of the current form of research tax credit – at least for SMEs – would be announced today. The CIR could also be extended to expenditure standards, patents and prototypes. One idea that won almost unanimous support.In one detail, cost: about one billion euros.
"Do not close the file"
For the CGT – including metallurgy and chemical federations call for day of action Thursday for the defense of employment in the industry – "the government should not close the file of the General Industry (…) After a speech by President of the Republic. "
This is unlikely to be the case … In fact, some people put on the table at the conclusion of the General Industry require further reflection. Especially the financing industry. Ways to redirect part of the French savings to industry, SMEs and unlisted companies should be studied by the summer.Such a new method of financing social protection, less work-related, too.
Time, it will also need a bit to play a proactive role at European level in order to convince the Member States of the need for a common industrial policy.
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The euro fell on Thursday to its lowest level since June 22, 2009. This morning, the euro was worth 1.3827 U.S. dollar before recovering to 1.3834 dollar. The single European currency also retreated against the yen at 125.70 yen.
This drop is explained in particular by the concern of traders due to budgetary problems of many countries in the euro area. Many expect a strong intervention of Europe and even appealed to the International Monetary Fund (IMF) to help Greece to get out of a budget crisis without precedent.
Another concern is about the euro on the currency market, the case of Spain, which has poorly digested crisis including an unemployment rate of nearly 20%.Besides Dominique Strauss-Kahn, IMF head, spoke Thursday on RTL crisis "very strong in Spain and that the country had" an effort "to reduce public deficits one hour payday loan . The Spanish public debt has soared just over 60% of GDP in 2010 while in 2007 it accounted for only 36.2% of GDP.
Tuesday, Paul Krugman, Nobel Prize in Economics in 2008, believed that Spain was the main weakness in the euro area. To this the Spanish Minister of Economic Affairs, Elena Salgado, has responded Thursday by saying on the radio station La Cope: "The euro is a very strong and we continue to strengthen the currency.I see absolutely no risk for the euro area, "adding," there may be a lack of understanding about what the euro means for our economy. "
Another country in the euro area is also starting to worry, Portugal, again because of deteriorating public finances of the country. Besides the titles of Portuguese banks fell by 5 to 6% Thursday on the Lisbon Stock Exchange.
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The United Kingdom is concerned that a boomerang effect will weaken his come back. On January 1, VAT is in fact rise to 17.5%, having been exceptionally lowered to 15% for a year to boost consumption. Economists from the Center for Economics and Business Research (CEBR) think again increase the VAT rate could be "stalling a recovery in its infancy."
The Center for Economic Research, which called in July 2008 a decrease of 5% tax, advance that have prolonged the VAT at 15% until July 2010. Joerg Radeke, economist at CEBR, said that the consumer will still need a boost in the first half. Inflation should indeed start rising, exceeding the 3%, which should lead to a decrease of 0.7% of household spending.In 2010, consumption would fall by 0.2%, according to economist.
The test balances
The effects of the rise in VAT rates could soon be visible through balances. If the high shopping season has started on the Bleeding Edge, economists fear it is only a deadweight, consumers rushing to the shelves before the tax goes back to 17.5 %. "They certainly have some early purchases in November and December," Analysis Caroline Newhouse-Cohen, senior economist at BNP Paribas.
The decline in consumption expected in early 2010 should still be written off by the pricing of retail giants such as Tesco. The largest British retail group has decided not to pass on the rising rate of VAT on certain non-food products.This should enable consumers to save another 12 million pounds (13.4 million euros), according to the distributor. The Sainsbury and Home Retail, among others, have also decided to sacrifice their margins.
Beneficial effects difficult to measure
In total, Jörg Radeke the CEBR believes that the rise in VAT rates, premature, and likely to "wipe out most of the benefits had been reduced fee. Still, it is difficult to estimate what were these "benefits" in 2009. According to the CEBR, reduced VAT rates contributed 0.5% to growth of British GDP.
The effect has not been miraculous. While passing the reduced rate, in the first quarter of 2009, "Private consumption fell 1.5% from fourth quarter of 2008, after a similar decline over the previous period," said Caroline Newhouse-Cohen.A decrease which stabilized until July. But economists agree that even if the measure has cost 4.3 billion pounds (4.8 billion euros) to the Treasury, the economic situation would have been worse without it.
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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 Hervé 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-à-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 Barrière 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 Barrière. We have lost a few points marginalized because, for example, the telephone line is directly in the room on request. Vis-à-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! "
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Christian Cassier, support mobility and recruitment at INRA, the first institute of agricultural research in Europe, believes that the pace of recruitment in 2010 will be the average volume observed over the past three years. For the diversity of its businesses is an asset in the crisis.
"Find the previous emissions" HR Issues "
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Gold, placing anti-crisis par excellence, in senators' crosshairs. Tenants of the Palais du Luxembourg in fact want to submit the sales of precious metals – gold, but silver jewelry and works of art to the general social contribution (CSG), revealed Thursday "Le Parisien". Supported by the Social Affairs Committee, but considered "difficult to implement technically" by the government, this new tax, which should be passed in the day aims to bridge the deficit in Social Security. In detail, if the measure is adopted as from 1 January next year, each transaction will be taxed to the tune of 8.2%. For example, the sale of a jewel worth 200 euros, Social Security will receive 16 euros CSG. With this new tax, the senators hope to get a "few million" each year.
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Turbulence, again, for the U.S. economy yesterday, the Financial CIT Group, a key player in SME finance – with more than one million customers – said he put himself under the protection of Bankruptcy Law. The figures speak for themselves: the extent of ILC assets are valued at about five billion dollars, it is the fifth largest bankruptcy in history of the United States. After those of Lehman Brothers (2008), Washington Mutual (2008), WolrdCom (2002), and General Motors (2008). However, CIT said in a statement that the process concerns only the parent, who hopes to reduce its debt of 10 billion dollars. The agencies of CIT and its subsidiaries should be able to continue operating. The group's difficulties have sharply accelerated in July.After having already injected 2.3 billion dollars in December, Washington has refused this time to rescue CIT.
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Before Christmas is the time for chocolate. While the cocoa harvest in full swing, the courses of the famous bean reach new levels. In New York, a ton is trading at historical prices, around 3 390 dollars per tonne, as in London where 2 150 pounds per tonne have been exceeded. A steep climb in a short time.
"In the lull of summer, we were only 1 400 pounds per tonne. The market has changed dramatically since the funds are interested. It is not uncommon to see variations of 8% in one day, "says Jean-Paul Burrus, president of Salpa family group, owner of Chocolatier La Marquise de Sevigne. "Previously, that happened only when the coup. But now, the market became very volatile and there are more rules.We need to cover by buying futures a year, "says the businessman who uses each year 1 000 tonnes of cocoa from Côte d'Ivoire, Trinidad or Venezuela.
Global consumption is around 3 million tonnes per year, representing 3 to 4 billion euros turnover per year. What makes cocoa the third tropical agricultural commodity exchanged most, behind sugar and coffee.
Several factors explain the high rating current cocoa prices. First of growing speculation. "Since late August, there is renewed interest in risky markets and hence for agricultural commodities, said Vincent Geiger COUTIER at New Edge. They have the attraction of funds, because they represent a good bulwark against the inflationary pressures in a recovery scenario and good coverage on the foreign exchange market.The currency in which they are denominated, the dollar and the pound collapsed. "
Tensions on the course
In addition, there are factors specific to the cocoa market. "For five days, a strike is raging in Côte d'Ivoire, the largest producer with alone one third of the world's cocoa, and it is unclear whether the country will produce the psychological threshold of one million tonnes. Enough reason for a little more tension on the course.
Demand side is the explosion. Celebrations New Year approaching. "We sell more than half of our chocolates at Christmas," said Jean-Paul Burrus. Furthermore, new players entered the market with a consumption curve exponentially. "With rising living standards, demand is increasing in China and India," says Vincent Geiger.In Europe, sales also rose, perhaps because of the crisis, chocolate is considered by many as the best antidepressant!
In fifteen years, the French consumption has almost doubled from 4 to 7.5 kilograms per year per capita. It is still a few bars of Swiss, European champions with 11 kg. But ahead of Italy and Spain, with only two kilos.
Finally, the greedy have to fear a surge in prices of the tablet or small box? Hard to say, for Vincent Geiger. This will vary from one industry to another, as was more or less well covered against the higher prices for financial instruments and is ready or not to trim its margins. Strategies very secret. The Marquise de Sevigne excludes any increase in the short term, being forearmed against this risk.In addition, prices are fixed for a long time for some commands, such as works councils.
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