Will there a shortage of cameras in France? The French representatives of Japanese companies have shifted from caution to a post-earthquake alarmist tone. "The situation is critical, we will receive a limited amount of cameras. The months of May and June, traditionally important to sales, will be very complicated, "says Laurent Roussel, president of Panasonic France.
For his part, that Nikon is launching this month its new SLR D5100 warns there will be only 140 000 shipped worldwide or the quantities for normal development. "Then we do not know when the next will be produced," says Benedict Dieuleveult. This means that the restocking might as well take place in May than in September. And in the latter case, it will be too late to ensure supplies for the summer season crucial.The SLR market, which accounted for 600,000 sales in France in 2010 is the most affected segment of the camera market.
The reasons for these delays are related to the consequences of the earthquake that hit Japan on March 11. The factories of the great names of the photo little affected by the tsunami, but are still penalized by blackouts or disruptions in component supply. Canon is thus a state of "intermittent generation," "partial recovery of activity" in its sites dedicated to optics. Among Japanese manufacturers, Olympus only exception to this rule: it only has an optical factory in Japan, located on the west coast of the archipelago – the tsunami struck the east. Its production units are located elsewhere in Asia. "Right now, we suffer no delay nor a decrease in delivery, says Christophe Valentin, marketing director of Olympus France.But we remain always thank you for the interest in a sub-contractor. "
Threats to employment
The numerous local subcontractors in the industry have suffered more from the tsunami. Some productions have still not recovered components of "normal" levels and in the worst cases, have not restarted. Most major Japanese houses have also set up systems to help support the rebuilding of their suppliers.
Corollary fears of disruptions in store, announcements of price increases began. Panasonic was the first to open the ball, with an increase of 10 to 12% on its products for the month of May. "This increase is also intended to help the French structure, knowing that the volume of sales probably will fall," said Laurent Roussel. His concern is shared. "The French subsidiaries of Japanese corporations are 7 000 to 8 000 jobs.A decrease in their activity could have negative consequences on employment, "says Laurence Fauque, General Delegate of Ficime, a federation of businesses. In turn, distribution and particularly specialists could be financially penalized by supply disruptions.
The Minister of Youth and Sports welcomed us in adjacent rooms at the stage of Marrakech. Before answering our questions, he took a few minutes to finish a chat with young surfers on his Facebook page. "For nearly four months, it scans the current social, economic, political and sports every Tuesday from Morocco," explains Rashid Maaninou, Inspector General of Ministry of Youth and Sports. While the country is already host to the African Cup of Nations (CAN) in 2015, the Minister gave an update on the outline of the professionalisation project of Moroccan football.
Lefigaro.fr – Where is the professionalisation of African football?
Moncef Belkhayat – It is now clear that Africa is lagging behind. The only country on this continent is professional in South Africa, host of the last World Cup in 2010.In addition to Morocco, Algeria, Egypt and Tunisia are closer to get there. This requires a large dynamic range and great political will.
This political will is there she in Morocco?
Yes, and we now have a legal arsenal to create what I call a sports economics. With the Royal Moroccan Football Federation, we have prepared a bill with orders that will be applied on September 30. The Federation has in his possession a specification that will provide all clubs of first division football. We will then raise the clubs in this project and make them aware that they have until June to sign it.
Be considered as professional clubs will have a stadium of at least 15,000 seats, a budget of at least 1 million euros, a school for training and financial support of local and private investors . Those who do not meet these criteria will be demoted to the second division. The goal is that Morocco has its professional league in September for the 2011-2012 season.
What are the highlights of this professionalisation?
The department has launched many projects large stadiums. We inaugurated last January that the Marrakech which can accommodate 45,000 spectators and cost about 90 million euros. Stages of Tangiers and Agadir should be delivered respectively by the end of the month and in December for the reception capacity of 45,000 seats and investment costs of just over 85 million euros each.Finally, the chamber of Casablanca should break ground next May and have 80,000 seats. Its cost is around 200 million euros. We are now launching a second wave of stadium from 10,000 to 25,000 seats in smaller cities like Kenitra, Khouribga, Tetouan …
But do not forget training. The legislation thus provides for the mandatory school sports. We currently have 29 centers of local social and sports, 150 are under construction and we have signed with local communities to have 300 new. The goal is to have 1000 by 2016 50% funded by the state and 50% by local authorities.We will finally sign an agreement with the Union to create private Marrakesh soon a faculty of sports in Marrakech.
How to make sure the stadiums built in Morocco?
The stadiums built in Morocco are not exclusively dedicated to football stadiums. They all have an athletics track and can host events and international meetings in this discipline. They also feature a number of rooms and spaces covered in order to host conferences and seminars. In addition to football, we plan to organize a cultural event per month.
Finally, we will develop annual programs of sponsorship for each of our stages.Thus, the stage of Marrakech, the sponsors will give their name to one of the towers placed around the enclosure for 20,000 euros a year, buy VIP boxes for 40,000 euros per year or be visible through panel 5000 € 10,000 per game payday advance low fees.
The presence of the Moroccan State in football is it not a barrier to its development?
Indeed and that is why the law we will implement plans that clubs become sports companies held initially for up to 70% by private investors and therefore at least 30% by the government through associations. But once the clubs will be sufficiently well-structured is to say by the African Cup of Nations (CAN) 2015 that Morocco hosts – the state should gradually phase to enable them to become independent and thus finance their development on the financial markets or through the contribution of private investors.
For clubs to gain this maturity, we must develop more of an incentive framework that I discussed an appropriate tax. In other words, reduce their taxes, VAT exempt their sports equipment, giving them access to cheap land to the State, etc. …
Yet no bank or insurance company invest in Moroccan football. How to convince?
Banks want above all that we bring them some visibility on the return of their investments. These are players with a strong corporate culture. We must be as transparent and as professional as possible with them. But it is now sporting institution, advertisers and media need to put around the table to ensure that the Moroccan football becomes a unique platform for exposure.
For this, we draw a lot of European and American models.Today, football clubs are associations whose bylaws do not like companies holding the balance sheet, income statement, audit, certification of accounts. By initiating the transformation of these sports associations into commercial companies, this will allow them to present banks with a real record and thus be able to raise with them the debt.
Exactly, you complain a lot with this law does not take into account the specificities of Morocco and inspired the French model. What is your response?
Moroccan laws are historically based in France. I studied in English-speaking countries and I know the quality of other European models, including that of Germany, whose resources are very diversified.
Now, I realize that the more we advance towards the professionalization and transparency and the more people who feel aggrieved.But especially the greater our chances of clubs even more powerful, able to pull up all the Moroccan football.
Revenues generated by the Moroccan football clubs are they diversified?
Sponsorship and television rights revenues represent 60% of Moroccan football. With the professionalisation of football, we also established an exclusive TV rights with the National Society of Radio and Television for $ 60 million. As for the budget through sponsorship of football in Morocco, it accounts for 10 million euros.
We also have a background of sports development, which can help in different sports. This fund is financed by the Moroccan society and sports games (MJDS), an organization that depends on our sports department in charge of paris.With the new structure of this entity, revenue increases on a regular basis, so this allows us to develop different disciplines.
Morocco organizes the African Cup of Nations in 2015. The objective is it now to organize a World Cup?
CAN 2015 will be a first indicator of our ability to receive a great event. Then we can confidently consider us as a candidate to host the World Cup 2026.
But our goal must not only be a candidate, but to organize it. It is only then we can say that the Moroccan football was professionalised. South Africa did. Why not Morocco?
If the nightmare of the three executives wrongfully dismissed for spying is done, the management of Renault, who had publicly accused, is still under pressure. On Thursday, after talks with Carlos Ghosn, CEO of the automotive group, Christine Lagarde, Minister of Economy and Eric Besson, Minister of Industry, reiterated a "thorough audit" had been requested on this lamentable Case to identify the origin of recently observed failures within the company. "
The audit, whose findings will be presented later to the Board of Directors of Renault on April 28, must provide "specific evidence" to "identify any errors or mistakes in decision making and management of this case."The two ministers said they "sleep (eraient) that the conclusions should be drawn in terms of organizational reforms in terms of individual responsibility."
In other words, the government, which denounced on Tuesday, after a public apology from Carlos Ghosn, an "amateur improbable" and promised that this fiasco would not remain "no action", reserves the right to request additional sanctions by a month and a half. For now, only three members of the Security Branch of Renault are covered by "disciplinary procedures". The executives involved in this case waive the variable portion of their compensation.
Wishing obviously does not make decisions hot state, the manufacturer's largest shareholder, has not formally asked heads since the case was deflated.At the special board on Monday, the two directors representing the state have also approved the action plan of Carlos Ghosn, who has not discussed his resignation and denied that Patrick Pelata, its Chief Operating Officer .
Responsibility Ghosn
How far is ready to go when the Bercy audit findings be known? The department, it is careful not to directly answer this question. "Carlos Ghosn bears some responsibility, since it is the one who went on to say TF1: I certainties," said Eric Besson Wednesday on BFM. But the state does not seem to further destabilize a national treasure by beheading. The Minister of Industry spoke on the radio including "the importance of the agreement between Renault and Nissan, which is also CEO Carlos Ghosn, and" the development of electric vehicles. ""For many, the idea of removing the head of the entrepreneur when Renault is facing a major strategic situation can be a challenge," he said.
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Cancellations will travel faster than the revolutions themselves Arab. While the wind blows still timidly revolt in the Middle East, several of them noted a sharp drop in hotel bookings.
Jordan in particular, several sources said that cancellations had reached 50%. A tour operator confirms that in 3000 tourists who booked a trip in the coming months, 1200 had already annulled. Jean-Francois Rial, CEO of Voyageurs du Monde, a leading Tour Operators in France, also referred 50% of cancellations to the country. This situation is particularly worrying for a local economy where tourism represents 14% of GDP, with a turnover estimated at one billion dollars in 2010.
Syria is no exception.Ghassan Chahine, owner of Naya Tours agency in Damascus, said he registered 35-40% cancellations for peak tourist season which runs from March to May, mainly by Europeans. The Syrian Minister of Tourism Saadallah Agha al-Qala, has been forced to revise downward its objectives: "We do not expect an increase of over 11% to 12% of the number of tourists" against an average annual growth of 15% since the early 2000s.
"All in the same bag"
Tourism professionals in the Middle East denounced the confusion in the minds of Western tourists. "They are influenced by media coverage and put all countries in the Middle East in the same bag, do not differentiate one country from another," said Nabulsi Touhami, office of tourism in Jordan. Tourists have canceled their trips to all Arab countries. "
Jean-Francois Rial, "people are more worried about what might happen in other countries than those where the revolution is over. Is that King Abdullah will not jump, do as the king of Morocco does not have a problem, as Hu Jintao? ". Ghassan Chahine agrees: "People tend to think that the revolts are taking place across the region."
Hopes
Despite their concerns, industry professionals want to believe in an imminent improvement in the situation. "The perception of people change very quickly. It does not take much time before the booking for a country not resume, "says Sean Tipton of the Association of British tour operators.
Until the fears subside, tour operators could, like the Maghreb, betting promotions.Marmara, the leading destination Tunisia is already seeing the success of its offer a "pay for a given": "We found in March the level of bookings last year, with 8000 departures scheduled within a month," explained Le Figaro Florian Vighier, its director general.
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The siege is perhaps not what we think. In the battle between Alassane Ouattara and Laurent Gbagbo President of Cote d'Ivoire, do not be fooled by appearances. Certainly, Ouattara, who won the presidential elections of 28 November, can not leave the hotel Gulf surrounded by military forces loyal to Gbagbo. But the latter, which does not release the power, is increasingly isolated from its financial resources by the strategy of suffocation of his opponent.
"Without military intervention impossible, the only weapon Ouattara is the economy," said Vincent Darraque, associate researcher at the French Institute for International Relations (IFRI). "The goal ultimately is to divide the clan on fund bankruptcy." Alassane Ouattara and its international allies have thus closed one by one all the valves supplying the cash war chest of the outgoing president.
"Gbagbo tinker"
But each time, "Gbagbo crafter, artisan economy develops and it seems impossible to reduce to zero its resources," says Rinaldo Depagne, the International Crisis Group (ICG). The camp Ouattara example decreed the suspension of exports of cocoa, Gbagbo has the upper hand in the industry. The European Union has followed, as well as large multinationals in the sector. But, warns an observer working for a French bank, the president turns the embargo through the ways of smuggling.
The hardest blow dealt to the clan Gbagbo went more unnoticed: printing money has been confiscated by the Central Bank of African States (BCEAO). Ally at the head of the guardian of the CFA franc, the common currency for countries in the region, was ousted in mid-January no fax payday loan. His replacement, a pro-Ouattara, immediately closed the antenna of the institution in Abidjan.Gbagbo then organized the robbery of the branch that hosts 268 billion CFA francs (408 million). According to the magazine Jeune Afrique, he could pocket as 8 billion, can not open the coffers, "the access codes are managed from Dakar, Senegal, and changed daily."
Extortion tax
Short of forcing the doors armored reserves of the BCEAO, Gbagbo can always count on one of its main resource: oil. Nearly a third of production would be siphoned off by his clan, or about 20,000 barrels / day. Besides the black gold, Gbagbo controls the direction of Ivorian taxes. Businesses are at once caught in the crossfire. Ouattara called them not to pay their taxes to the Treasury, but hurry up now Gbagbo armed men for extortion. More sources of cash are scarce Gbagbo, his reactions are more extreme.Latest: the requisition of banks, including subsidiaries of BNP Paribas and Societe Generale, which closed this week.
How long will even the outgoing president? "Gbagbo has already dipped into its reserves before his election to buy votes. He sprinkled a lot, "says geographer Christian Bouquet. The UN estimates that he must find each month to 150 million dollars to pay 104,000 civil servants and 55,000 soldiers. Clan of the outgoing president said he could take two months "without problem". Impossible to verify. Meanwhile, the Ivorian economy, deprived of its banks is disintegrating.
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The board of directors of the Audiovisual outside France (AEF) held in an atmosphere with a knife to cut both the relationship between Alain de Pouzilhac and Christine Ockrent is tight for six months.However, Alain de Pouzilhac has agreed to a gesture by saying: "Christine, I've never directly accused in this case" and arguing that it considered itself reached in his honor by the charges of hacking it the subject.
The CEO of external broadcasting also said that the crime involved only "the holding structure and not the television channel France 24", as has been claimed.
"An intolerable situation"
This subject was not upset to be addressed, but Michel Herbillon MP, representing the council has put his foot in it to evoke "an intolerable situation requiring an urgent solution for a company that carries the image of France to the abroad " paydayloans.A position that would have caused the approval of qualified persons present, as well as staff representatives.
Another sticking point, the majority of the board expressed concern about the failure to sign the contract objectives and expected ways to fix the company's strategy until 2013. The state official promised a "speedy resolution".
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After retirement, Bernard Thibault has found a new battle cry against the government: 35 hours. The boss of the CGT intends to fold the Executive following a decision by the European Committee of Social Rights (ESCR) – 15 independent experts appointed for six years and responsible for judging compliance with State law the European Social Charter – who "found a violation by France of the charter in terms of time working" on two points: the day passes and penalties.
The regulation of day passes (employees working a specified number of days in the year) would be contrary to European law because of weekly working hours' too long to be considered reasonable "(up to 78 hours week) and a violation of overtime laws (the package to employees who can not do).According to the CEDS, the system of penalties would be contrary to the rules applicable to weekly rest. "This is a decision of great significance since it potentially involves millions of employees," said the CGT leader that sum "the government and French companies to comply with the charter." Even if states are not required to comply with the decisions of CEDS – France has been "convicted" twice for the same reasons not taken into account – the boss of the CGT considered "appropriate" to them and even "force of law."
No legal
And Bernard Thibault, therefore, prevent: "Employers should be aware that some of their agreements ( fast cash now…) are considered contrary to the European Social Charter and, as such, reprehensible." And if companies do not want to reopen negotiations, the CGT will attack before the high court and its designees will initiate proceedings before industrial tribunals. "We will get the punishment of all those who will not comply, I can assure you", asserts the head of the Central Montreuil targeting the companies that make their employees at the maximum fee allowed by law, or 78 hours per week. Bernard Thibault, do not despair that companies ultimately doomed to return against the state for him to claim substantial damages. "It's happened before, it can happen again," he assures.
Xavier Bertrand, Minister of Labour, will not amend the legislation on working time. Neither today nor tomorrow. "What is the legal significance of this decision?" Pretended to consider Monday a close: None. No more than the recommendations of the Committee of Ministers of the Council of Europe (which brings together foreign ministers) to which the decision of the CEDS was sent on September 13. The Committee of Ministers – which postponed on December 8 last consideration of this issue – had not followed in 2000 and 2003, the CEDS lesavis on mêmesquestions.
The "riots" in Algeria have made their first victim, according to the daily El Khabar. A young man of 18 years was shot dead during clashes with police in the Algerian region of M'Sila, 300 km southeast of Algiers. According to the Arabic newspaper, Azzedine Lebza died instantly after being hit by a bullet.
The police tried to repel protesters who managed to enter by force inside the post office and the sub-prefecture of Ain Lahdjel near M'sila, the newspaper said. Three other protesters were injured in these violent clashes, the source said.This information has not been confirmed from official sources.
Larger Map
An interministerial council planned this Saturday
The clashes between young protesters and security forces resumed Friday in Algeria, including Algiers and Oran, and extended in the east and in Kabylia, despite appeals for calm from the authorities and several imams. In the capital, on Friday afternoon in the neighborhood of Belouizdad (Belcourt), groups of youths clashed with stones and glass bottles of police deployed en masse and heavily armed. The police clashed with protesters by making use of water cannons and tear gas.
For more than a week, small groups of young people complain around the country what they call their "bad manners", either because of employment-more than 20% of youth are unemployed or lack- housing.The authorities went out of their silence Friday: Algerian Minister of Youth and Sports Djiar Hashemi called on young protesters to "engage in a peaceful manner." Violence "never results in either Algeria or elsewhere, and that our young people know," he said during a visit to Constantine, east of Algiers.
An Inter-Ministerial Council is scheduled this Saturday to discuss ways to curb soaring prices of commodities, the source for a week of riots in the country, including violent protests Thursday.
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Copper ends 2010 with fanfare
Copper has illuminated the LME for the last week of 2010. Despite the holiday-shortened session, the red metal has distinguished himself by beating his own records. Friday, he hit the 9,675 dollars per tonne, a record level. Its price has more than tripled in two years. He ended the year on an increase of over 30%. In a market where stocks are still considered insufficient, the growth of emerging economies, India and China in particular, focused on the rise.
Tin was also distinguished by an increase to 26,800 dollars per tonne and an annual increase of nearly 60%. The other metals are no exception as evidenced by increases of 31% over the year for nickel, 10% for aluminum and 5% for lead.
Used in industry, base metals have largely benefited from the recovery prospects for global growth in 2011, but also the weakening dollar. Moreover, the idea of seeing the birth of ETFs on the market, like precious metals, has generated much interest markets.
Oil makes up barely to the end of the year
The last week of 2010 has been turned upside for oil prices. Monday was first marked the end of a series of 5 consecutive sessions of gains, at a time when only the NYSE was open (one in London remained closed for the holidays). At $ 91, the course has remained on a higher in two years, but the atmosphere was gone. "The market drops a little ground. There are concerns about China's growth, "then thought Jason Schenker, Luxury Economics.
Thursday was the turning point of the week with the publication considered disappointing in crude inventories in the United States. The crude reserves fell 1.3 million barrels in the U.S., far less than anticipated by analysts (-2.9 million barrels). In addition, stocks of distillates rose despite the cold. These stories have been enough to push investors to take profits. On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for February delivery finished at 89.84 dollars on that day, down 1.28 dollars compared to the previous day. In London, Brent crude ended at 92.67 dollars.
Anxious to end the year on the positive, investors were caught on Friday. In New York, oil prices rebounded late in the session, reaching in the final minutes of trade, 92.06 dollars, a breakthrough price since October 2008. In 2010, he was up 15%.In London, Brent crude ended at 94.59 dollars (+22%).
The gold star of 2010
The year also ended with a flourish for precious metals. Gold, who won more than $ 40 in five sessions, ended 2010 to 1420.70 dollars an ounce, not far from its record high (U.S. $ 1,431.25 hit on December 7). As always this year, gold has benefited from its status as a safe haven in a market somewhat reassured by the problems of European debts no fax payday loans. Last week again Italy has sealed off a bond issue at very high rates while rates are still Greek soared. The weak dollar has also encouraged purchases of gold. Some profit taking at the weekend prevented the yellow metal to enter a new record. But according to analysts, the rise should continue in 2011.
As always, the money followed the gold.The gray metal ended higher at 30.63 dollars per ounce on Friday, registering a record high during trading in 30 years to 30.90 dollars. Over the year, he won over 80%.
For its part, an ounce of platinum ended at 1761.50 dollars an ounce Friday and palladium closed at 795.50 dollars. The two signed a very good year in 2010, with respective gains of 17% and 91.41% year on year. In addition to the industrial outlook optimistic, the markets were driven by fears of tight supplies of Russia, world's largest producer.
Cocoa takes a deep breath
Markets of agricultural materials, time was rather cautious. Cocoa prices in particular, have stabilized, although no conclusion has been found in the political crisis in Cote d'Ivoire, the largest producer worldwide.Prices have increased by "only" 12% since the beginning of political tensions since the beans were still able to reach ports and leave the territory. Moreover, other producing countries such as Ghana and Indonesia, are driving the market. On Liffe in London, a tonne of cocoa for March delivery ended down slightly to 2017 pounds on Friday. On the NYBOT-ICE U.S., the contract for March delivery was worth 3,023 dollars per tonne.
For his part, sugar is still flamed last week. Prices are mounted Wednesday until 34.77 cents a pound in New York, a new record since January 1981 due to fears over supply. But prices fell sharply Thursday and Friday, weighed down by a movement of profit taking.
From their side, prices for corn and soybeans have reached their highest levels since August 2008 in Chicago.Dry weather in Argentina, the second largest exporter of corn, fearing the worst for crops. A bushel of soybeans for March delivery finished Friday at 14.03 dollars, rising by 3.2% over the last week of the year. The contract for the same maturity of corn rose to 6.29 dollars (+2.4%) while a bushel of wheat stood at 7.9450 dollars (+1.5%). Note that wheat, boosted drought in Russia during the summer, has gained 45% over the year.
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The approach of Christmas has meant a return to stability for the Paris financial market. The CAC 40 has almost regained the level Friday it had reached the end of 2009, surpassing the 3,900 points of accuracy. It is true that after months of tension, the French index shows a nice rebound by 8% since the beginning of the month. This makes December the most brilliant of the Paris Bourse for ten years.
Several reasons for this surge. Firstly, a lack of love for the bond market causing transfers of liquidity in equity markets, a phenomenon particularly noticed by the managers for two weeks. This is the first time that the phenomenon occurs since the beginning of the financial crisis in autumn 2008.
Rather favorable outlook also served markets. The company forecasts are positive and well-oriented macroeconomic indicators.Finally, the current undervaluation of the Paris stock attracts more and more foreign investors. This has led to the week before Christmas with a leap of ACC, at its highest level this month on Tuesday, followed by three days of quiet consolidation.
Ambiguous attitude of investors
The average values have led the market. The specialist video games Ubisoft has gained 9.8%, and the group of utilities Derichebourg 9 low fee payday loans.3%. While on the foreign exchange market, where volumes were very low, the euro was stable against the dollar Friday. Not surprisingly, most markets were sluggish last week.This has also enabled ads stringent rating agency, on Portugal and Hungary in particular, to go unnoticed …
By December 31, some U.S. indicators, highly anticipated, would instead take out the financial markets of their torpor. This could be the case for the index of consumer confidence for December, which will be unveiled tomorrow, or that of economic activity in the Chicago area over the same period, published Thursday. Statistics will be added real estate, housing prices and promises of home sales in November. In all cases, the year ending reflects an ambivalent attitude of investors, shared between firms rather satisfactory results and concerns about the strength of the euro area, notably with the debt crises in Greece and Ireland .It should confirm the ability of some values, especially in luxury, to hold their own in the game LVMH is up 64.3% year on year, and PPR of 43.9%. Opposite, the rout will fit certain heavy finance, Axa losing 22.9% over the year and Crédit Agricole, 19.6%.
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