The luxury sector is doing decidedly. PPR has surpassed analyst expectations by announcing on Friday, thanks to the acceleration of group sales in the period, net income Group share up 113.3% over one year to 403 million euros. His real turnover in the first half is also in an increase of 3.6% over the first half of 2009 to 8.139 billion euros.
"Our strong reaction from the outset of the crisis to maintain our competitiveness and the development of offensive trade allow us to benefit from the initial effects of the global economic recovery," said Francois-Henri Pinault President and CEO of PPR said in a statement. Earnings from operations also increased from 20.7% to 708 million euros.
"Good prospects"
The weight of the activity of PPR International has indeed continued to grow in the first half, representing 60.5% of the turnover of the group against 59.7% a year ago. Emerging countries in particular have contributed to make the results of PPR, with trading up 11.3%. Gucci now 40% of its sales in emerging countries, against 36% a year ago.
As its competitors in the luxury, like Hermes, LVMH and Burburry PPR announces results improved versus the first quarter 2010, reflecting the fact that the sector enjoys full recovery. The luxury division of PPR, Gucci Group (Gucci, Yves Saint Laurent, Bottega Veneta, Boucheron …) recorded an increase of 11.1% of its turnover to 1.82 billion euros. Less than Hermes, however, who announced last week a turnover up 23% over the first half of 2009.Francois-Henri Pinault, however, anticipates "good prospects", in the short and medium term.
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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• Transport
– Station: Ticket prices for trains Coral, Intercity and TER (Regional Express Train) will increase an average of 2.5%. This will result in higher ticket from 10 cents to 2.30 euros depending on distance traveled during the trip.
As for the discount cards (cards 12-25, Senior, and Child Escapes +), their prices remain unchanged.
– RATP: The price of individual tickets will go from 1.60 euro to 1.70 euro.
Subscriptions Navigo will also increase, except for packages zone 1-5 and 1-6.The monthly Zones 1 and 2 (Paris and suburbs) rises from 56.60 to 60.40 euros (+6.7%), the zones 1-3 of 74.40 to 78.20 euros (+ 5.1%) and the zones 1 to 4 from 91.70 to 95.50 euros (+4.1%).
• Energy
– Gas: After an initial increase in April, prices will increase again by 2% to 4.7% (about 8 euros per year for those who use gas for hot water and cooking 45 per year for those who use it also for heating)
– Bulbs: As part of the scheduled end of incandescents in the EU to promote energy saving, incandescent lamps of 60 watts are removed from store shelves.Those whose power was 100 watts or more have disappeared from shelves in 2009.
• Bonus for scrap
The premium case is lowered to 500 euros instead of 700 for any car ordered until December 31.
• Stamps
The price of postage for mailings of letters under 20 grams, will increase by two cents from 56-58 cents, an increase of 3.5%.
• Retirement
The index points which is the basis for calculating salary in three public (state, territorial and hospital) must be revalued by 0.5%.
• Unemployment benefits
Allowances of approximately two million unemployed by unemployment insurance compensation will be revalued by 1.2%.
• Communication
– Hadopi: It is from this Thursday that the first warnings will be mailed to users in violation of the law on downloading.
– Phone: The price of calls made and received from another EU country (roaming within Europe) will be reduced to 39 cents per minute excluding VAT cons 43 cent today. Receiving a call will be charged € 0.15 per minute instead of EUR 0.19.The SMS tariff remains unchanged for its 11 cents per message.
• Business and Disability
Firms with more than 20 employees employ any disabled person and took no action to promote employment of disabled people will have their penalties tripled to about 13,000 euros per person missing.
• Livret A
Currently at its lowest level since its inception to 1.25% – Return of the booklet A should move to 1.50% or 1.75% from 1 August by Budget Minister Francois Baroin.
"Our goal is to aim Iran where it hurts most." The words are clear, crisp and sharp. The Democratic majority leader Harry Reid's Senate on Monday spoke uncompromisingly after both houses of Congress last Thursday adopted sanctions against Iran, aimed at forcing the country to abandon its nuclear ambitions.
This series of steps that must still be signed by President Barack Obama seeks to reduce the supply of gasoline to Iran.It involves companies or their affiliates doing business with the country providing refined petroleum products or helping to develop refining capacity.
Christophe de Margerie warned
Thus, Total said, speaking through his spokesman Monday that the suspension of deliveries of petroleum products to Iran, confirming information the website of the Financial Times Sunday. Total joins BP and Royal Dutch Shell in the list of petroleum companies halting oil sales to Iran cash till payday. Last April, Christophe de Margerie, Total's then CEO had said his group would stop sales to Iran if the U.S. legislation penalizing companies providing Teheran in petroleum products was adopted.
The group chaired by Christophe de Margerie declined to say more, including specifying the date of termination of deliveries nor the volumes of oil involved According to a source close to the oil group, it would be "marginal quantities" . To believe the traders interviewed by the Financial Times, shipments have been stopped "about a month ago.
Fourth largest crude producer, Iran lacks refinery on its national soil, and thus depends heavily on imports for its supply of gasoline and refined products.
At the Paris Stock Exchange, Total closed up 0.66% to 38.13 euros in a market up 1.61% to 3576 points.
Fiercely negotiated three days in Toronto, the draft statement of the G20 should offend anyone. If it includes the rigorous growth strategy, it also warns against excessive austerity. Still as unpopular worldwide, the tax credit is mentioned by the G20 as a means available to states to pass through to the banks of the crisis mess. The 28 pages of draft final declaration, which obtained a copy of Figaro, operate a subtle synthesis between European and American positions.
Angela Merkel can boast of having imposed the virtues of fiscal discipline at the highest level. But to the relief of Barack Obama and Nicolas Sarkozy, she has not transformed the G20 summit of austerity."Recent events show the importance of sustainable public finances and the need for our countries to implement measures to consolidate budget spread over time, conducive to growth, and differentiated according to country and national circumstances," says the One of the phrases most discussed compromise.
Determined to make growth "priority" of the G20, the United States got to place the term "recovery" prominently in the declaration, a challenge, says a trader. "We need to let it work through our plans to consolidate fiscal stimulus recovery," said the G20 as well. "Adjustments in simultaneous biggest countries could undermine the recovery," it added.
Disagreement over the top on bank charges
Canada has not really managed to impose a stability pact worldwide."Advanced economies have pledged to take measures to consolidate budgetary decline by at least half the deficit by 2013, and stabilize or reduce the debt / GDP ratio by 2016, said the G20. Nothing that does very afraid of the euro area, or even France, which has promised to reduce its deficit to 3% in 2013. The White House, meanwhile, did not wait for the G20 to commit to reducing the U.S. budget deficit by half in 2013 to return to deficits of 3% in 2015.
If the disagreement at the summit endorsed the tax credit, due to strong opposition from Canada to Australia, but also emerging countries (China, India, Russia), the G20 mention the tax as an option for countries seeking to save public money in any future banking crisis.Defended by the IMF, the tax would be adjusted to take the risk profile of financial institutions.
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LE FIGARO – The backbone of "retirement" is specific to staff align their contribution rate over that of private sector employees. Why?
Georges Tron – We want a clear and equitable reform. Nothing justifies to contribute three points behind, having comparable pensions. This represents an increase of 6 euros of contributions, on an average salary of 2000 euros a month for ten years.
The calculation of the pension on the last six months of salary, instead of twenty-five best years, is also a symbol of inequity for the opinion …
Wrongly so, if you look calmly at things! We are in a very specific body, grades, levels, indices, with premiums that are excluded from the calculation of the pension.The only question worth asking is: these rules they generate large differences in pay and pensions? The answer is no.
Why have kept "active groups" instead of applying to civil servants the opportunity to retire early for hardship, which will soon be applied in the private sector?
Occupations in uniform (police, firefighters, prison guards …) can effectively retire at 50 or 55 years. It is an old way to take into account how hard these jobs, which nobody denies. The classes are kept active but these floors will be carried over age two years, as for everyone.
You open next Friday, a salary negotiation. Bercy pushes you to a freezing point index.The 0.5% increase for July 1, promised two years ago by Éric Woerth, Will it be good?
While it is important to keep its commitments, we must be lucid about the state of public accounts. This first session will assess the progress of the purchasing power of workers in 2009 and expected for 2010. Based on this diagnosis, I hope shared with the unions, we will be open to discussion. One thing is certain: the issue of pensions is, Eric Woerth and I disconnected from that of wages. There is no question of compensating the first by the second. This would immediately cancel the legitimate efforts and gradual asked officials on pensions, that nobody would understand.
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Concern swells in China. While inflation has risen another 2.8% in April, house prices have soared 12.8% last month, their sharpest rise in five years. The measures launched in recent months by the central government to cool the Chinese economy struggling to reassure. So much so that some Chinese personalities out of their usual reserve to sound the alarm.
In a video interview published in the Financial Times, Li Daokui, professor at Tsinghua University (located in the northwest suburbs of Beijing) and member of the Monetary Policy Committee of the People's Bank of China, said that "the problem housing in China is actually much more fundamental and more important as the housing market in the United States and the United Kingdom before the financial crisis. " He said "it is not only a problem of a bubble.
A "social problem"
Soaring property prices may lead to "social problems of great magnitude," Li Daokui analysis. What would happen is China, at a time when wage demands and strikes have taken center stage in recent days. "When prices start to rise, many people, especially youth, are becoming very concerned." The home ownership, which already applies to few households would be increasingly difficult in the current euphoria estate .
The authorities have announced a round of measures since last January in order to stop the burning of property prices. The state has already imposed restrictions on sales of apartments, including the introduction of "flat shop" in Beijing. He has also taken steps to tighten credit flowing.New loans granted by banks in April, however, have reached 774 billion yuan (87.7 billion euros), or 182.2 billion more than in April 2009. Finally, the government announced the "gradual" introduction of a tax on real property.
Reform at the local level
To advise the Central Bank, this range of measures is a "first step", which will control real estate speculation. But it must involve "a long-term reform" of the Chinese real estate market, warns Li Daokui. "The second stage will address the supply problem." According to the professor, steps should be taken in the second semester or early next year to encourage local governments to provide housing for households moderate and low wage.For now, local authorities prefer to sell their land to generate revenue, Li Daokui regrets.
For him, the tax on housing advertised nationally is not a solution because it may further exclude households in the housing market. An opinion shared by Axa Investment Managers. In his weekly memo, the economist Hervé Lievore points to the "vicious cycle" moved "between investors, developers and local communities," the potential to fuel a "social discontent." Believing that the policy implemented by Beijing makes sense, analysts at Societe Generale also stress the need to manage the supply of real estate in order to curb rising prices and facilitate the accession of China to the property.
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New waves of turbulence on Thursday on European equity markets. At 2:35 p.m., the CAC 40 yielded 3.10% at 3403.06 points, in a transaction volume of more than 3 billion euros. The London Stock Exchange lost 2.04% at the same time, while the German Dax loose 2.41%. Already very tight, investors have been demoralized by a poor U.S. statistics: registrations are weekly unemployment rose against all odds, for the first time since early April in the U.S. during the week of May 15, at 471 000 446 000 cons the previous week, according to the Labor Department.
The euro goes down quickly and found $ 1.23, after having taken the day 1.5% up to 1.2414 dollar. The rebound came after the sharp decline of the single currency in the night from Tuesday to Thursday, which has pushed the euro to a new four year more, to 1.2144 dollar.
In Paris banking stocks pull the index up. Credit Agricole rises from 1.17% to 9.49 euros and signed the largest increase in the index. Societe Generale gained 1.62%, 36.40 euros and BNP Paribas, 2.1% to 47.23 euros.
According to Finance Minister Christine Lagarde, the euro is not "in danger". His German counterpart, said this morning in the Financial Times that he considers the markets "really out of control" and advocates more regulation.
Several statistical significance Thursday
In Germany, producer prices rose 0.8% in April, official data showed on Thursday.In one year, they recorded a rise of 0.6%.
In the U.S., the composite indicator of economic activity for the month of April and industrial activity in the Philadelphia area in May are still awaited by the operators No teletrack payday loans.
Air France: record loss
On the CAC 40, a single value in the red: Arcelor Mittal, which lost 1.21%, to 24.49 euros.On the SBF 120, it appears as Soitec the red lantern (-6.64% to 8.84 euros): the producer of silicon on insulator for the semiconductor industry has confirmed its forecast return to operating breakeven this year, Concentrix off after a current operating loss reduced during the second half of 2009-2010.
In addition, Air France-KLM (+0.06% 9.61 euros) confirmed anticipate a return to operational balance in 2010-2011 after posting record losses after an exercise she calls it himself as "annus horribilis." Franco Dutch airline, which renounces propose an annual dividend, also undergoes an early exercise sealed by the eruption of the Icelandic volcano Eyjafjöll.
Credit Agricole (1.17% to 9.49 euros) was no surprise on Wednesday confirmed the appointment of Jean-Marie Sander as his successor Rene Carron as president of the bank, marking the arrival of a new tandem leaders the head of the listed vehicle of mutual group.
Sanofi-Aventis (0.90% to 30 euros): Brazil has given the green light to redeem Medley by the pharmaceutical company for 500 million euros.
The Board of Directors and the two main shareholders of Sperian have agreed to repurchase the company specialized in personal protective equipment by the industry group American Honeywell for $ 1.4 billion. The shares are still suspended from trading.
Are expected date general meetings of CIC, Carbone Lorraine, Thales, Rexel, Eramet and Suez Environment.
The daily Les Echos published on Wednesday, unpaid bills accumulate on the offices of the Directorate General of Armaments. The culprit is the new system of accounting and financial state, Chorus, whose launch has caused many problems: "Taking the data files completely missed, parameterization of the software too rigid, inadequate training of agents, all full reform of the armed … "reports and Voices, which speaks of several million euros unpaid, or even one billion.
Being launched in all central and decentralized administrations, the application Chorus aims to simplify the governance and implement the provisions of the Organic Law on Financial Legislation passed in 2001 make quick cash.
But for now, the goal is far from being reached at the Department of Defense.According to Les Echos, a delegation of French industrial land defense at Bercy reported that unpaid bills put some SMEs in significant difficulties. A special circuit was established to regularize the accounts with the weaker companies. But the return to normalcy would not be expected before the end of the year …
A string football concocted by the Football League itself. This was promised on Monday Frederic Thiriez, its president, recalling, at a symposium on the pay-TV hosted by the High Council of Audiovisual (CSA) that "there was in France, 13 million people who were very interested in football. While TNT is paying in check, such an initiative could help to raise. And to clarify that "this does not mean that this channel will have exclusives on the championship L1. A conclusion that left doubts leaders of Canal + and Orange, Bertrand Meheut and Xavier Couture, who put on the table two years ago, 600 million to share its exclusive.
During the meeting between key players in the pay television several lines of force have emerged: beginning with the dedication of the largest operators in the sector to the concept of exclusivity.For Bertrand Meheut, the latter is the best way to fight against the "competition combined free television totaling 80% of the audience and for ISPs (Internet Service Provider Internet editor's note)" whose bids have been lower market share of Canal + to 47%. Moreover Bertrand Meheut recalled that his group distributed 240 channels including 50 exclusive, paid 250 million euros for publishers, 80 million euros in marketing and 200 million in recruitment costs "while" most operators telecommunications do not pay channels they broadcast on a non-exclusive "fast cash now.
For its part, Xavier Couture boss content at Orange, said that on pay-DTT "partnerships can be envisaged," including with Canal +. We intend to integrate the future of pay channels in our bouquet.However, he warned the market that the premium for exclusivity does not become a premium of eviction.
Later editors, all denounced the plight of pay channels. Thomas Valentin, vice chairman of the board of M6 has not hesitated to speak of "red alert" as regarding the TNT broadcast on pay cable and satellite. Laurent Solly, president of TF1 Digital, denounced "a time of crisis" as much publicity to the crisis that the stagnation of certain methods of distribution such as cable or satellite to the difficulty of the TNT charge.
Given all these facts, the president of CSA, Michel Boyon, promised that the regulator would give its position on DTT pay within three weeks.
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