Archive for the ‘economic’ Category

The "Safely" will eliminate nearly 4,000 jobs

July 30, 2010 - 7:00 am Comments Off

"The goal at the end of 2013 is to reduce the number of 3950, which represents half of 8400 anticipated retirements over the period, plus a bonus of 250, just respond to AFP chairman Michel Régereau (CFDT). The council must decide on the draft agreement on objectives and management (COG) on Thursday afternoon.

The pill is all the more bitter for the staff unions of sickness, such as primary agents of funds or regional health insurance (CPAM, CRAM), have declined steadily for several years.

From 85,000 in 2003, they returned to 75,243 in 2009, according to the draft agreement on objectives and management (COG) which AFP has obtained a copy. Like all governments, the CNAM is subject to the rule of non-replacement of a staff of two. But already, Michel Régereau announced he would vote against.This could lead, if followed by his counsel on a "blocking" quite rare in the annals of Secur. "So far, the presidents of unions secu supported the compromise reached with the government and sought to obtain a majority," he said.

"For the first time a president of CNAM will vote against the government decision on a matter as important," he said. "I think it's a first," concurred Carolina Ferrera, Director CGT, adding that the central union "can not condone such job losses.

According to Michel Régereau, the Fund had estimated it had saved 850 jobs, bringing the losses in 3350. But with nearly 4,000 positions eliminated, "then we can not.""Our network of primary funds is to be a challenge (…), it will be very hard for regional banks, they will retreat to their core business and our strategy to improve the efficiency of the health system will be lost, "he added.

For example, the Fund wishes to develop information to health professionals, improve the conditions of discharge from hospital for patients, and developing diabetes prevention, "he listed. "To develop these programs, we need means," he said.

"It will be a disaster is already explosive into the coffers of secu!" For both the personal to the insured, Carolina Ferreira warned, saying the government demands "unacceptable.""We are dealing with a government that is deaf" and "blindly applying the rule of RGPP," the General Review of public policy, "she accused.

Remains to be seen what the outcome of the vote of the board of directors, composed of 35 members (unions, employers, mutuality, qualified individuals, patients' associations, family associations and professions). If he had voted against the COG 2010-2013, "is the state that (would) hand to the application," said Carolyn Ferrera, and could possibly refer the matter to Parliament, according to Michel Régereau.

Dilemma for voting against unions because they would lose part of their role.

All sorts of people need fast cash though are unwilling to compromise on interest rates. Naturally, the lower the interest rate, the better. Low rate payday loans are easy to access thanks to the Internet.

Google leads Wall Street down

July 17, 2010 - 10:12 pm Comments Off

The U.S. stock markets are on the downside after the announcement of company results considered disappointing and macro news mixed. At the opening, the Dow Jones coward 0.45% and 0.65% Dow Jones. Thursday, after moping around for almost the entire session the New York Stock Exchange finished at equilibrium. The Dow Jones slid symbolically 0.07% and the Nasdaq by 0.03%. Wall Street has been supported in the final straight by BP and Goldman Sachs.

On the foreign exchange market, the euro is strengthening its progress against the dollar Friday on funding fears of slowing economic recovery in the United States. In the morning, the euro was at 1.2975 dollars against 1.2941 dollars the previous day. He subsequently crossed the threshold of $ 1.30. A first for over two months.

On the side of values, the Internet giant Google has released the Thursday after the close a net result up 24.3% in the second quarter to 1.840 billion dollars for the second quarter on a turnover of 6 8 billion dollars (24%). The action yields 5.37% to 467.70 dollars.

The BP oil company, also traded on Wall Street, said Thursday at the very end of the meeting that spillage of oil had been observed after complete blockage of the wells caused the oil spill in the Gulf of Mexico Bad Credit Payday Advance. However, the title gives 2.49% to 37.95 dollars.

Always on the side of values, the investment bank Goldman Sachs said Thursday after agreeing to pay closing $ 550 million of Ammende (425 million) to end the accusations of fraud regarding the marketing of a product derived from subprime mortgages. It is the largest penalty ever paid to the stock exchange authority, the Securities and Exchange Commission, in a Wall Street firm and the third highest all U.S. companies combined. Investors seem relieved. the title is 2.81% to 149.26 dollars.

Apple has invited journalists to a press conference this Friday, then multiply that rumors of a possible recall of four new iPhones, including an antenna problem has been confirmed by an influential magazine. title wins 0.55% to 252.83 dollars.

The banks should also react Friday to the adoption yesterday by the senate of the reform on Wall Street. Besides the publication of their results. Bank of Amercia plsu yield of 6% to 14.42 dollars and 3.58% Citi 4.01 dollras.

Brussels limits the traders' bonuses

July 7, 2010 - 5:08 pm Comments Off

Bonuses for traders and bankers in Europe, accused of encouraging rampant speculation during the crisis, will be capped for the first time from next year, following the final adoption of a text with meaning Wednesday.

Two years after the outbreak of the financial crisis of 2008-2009, part of the United States with the bankruptcy of Lehman Brothers, the European Parliament in Strasbourg approved the text, which was the subject of a June 30 Agreement between the elected and the states of the EU.

In 2011, the bonus must not be disproportionate to the fixed salary and cash bonuses will be capped at 30% of the total premium, or 20% on premiums particularly important.

End outlandish bonuses

Much of the bonus will be paid immediately and will not be after a period of at least three years to allow the employer to recover some cases where investment does not function as expected.

Finally, at least 50% of a total bonus will be paid as contingent capital, which can be recalled in case of banking difficulties, so that taxpayers do not end up in the front line when a bank gets into difficulties.

In the case of banks that receive public subsidies, the text also provides that "no variable compensation should be paid the officers of the institution unless it is justified."

"Europe gets the rules of coaching salaries of bankers and traders with the most aggressive in the world," said a French Green MEP, Canfin Pascal, who negotiated the text free credit reports. "By limiting the proportion of variable pay in total compensation, this text will finally put an end to extravagant bonuses synonymous with extravagant risks," he added.

A text to the liking of the banking sector

"Two years after the outbreak of the global financial crisis, these tough new rules on bonuses will transform the culture of bonuses and incentives to end the excessive risk-taking", claimed that his side the Socialist Arlene McCarthy, parliamentary rapporteur on file at the agreement in principle on June 30

The text is however not to the liking of the banking sector."We believe that the agreement goes too far, because at the international level, there are already some principles" in the form of recommendations that were made including the Financial Stability Board (FSB), had informed the AFP secretary general of the European Banking Federation, Guido Ravoet after the tentative agreement. "We believe that this is not the public authorities to make amounts, percentages," he added, saying that this responsibility should be left to banks.

"If the international level, it does not follow Europe, European banks have a competitive disadvantage," says Guido Ravoet, who believes that "financial centers like New York, Singapore and Hong Kong will benefit."

The CAC 40 is still well oriented

June 3, 2010 - 8:16 pm Comments Off

The CAC 40 climbed 2.19% to 3,578.01 at mid-points. Optimism is also topical in London where the FTSE gained 1.65% to 5236.50 points. In Germany, where the day is a holiday but not to the Exchange, the DAX index climbed 1.66% to 6080.33 points

European markets follow the footsteps of Asian financial centers this morning. These are themselves remained on the rebound on Wall Street yesterday, which saw the Dow finished up 2.25% through the good figures for real estate and automotive. On Wednesday, the same statistics have allowed the Paris Bourse stop the slide to achieve a closing balance (-0.05%).

Selected indicators

On Thursday, markets should evolve further over the many publications of macroeconomic indicators in Europe and the United States:

– In France, INSEE reported that the unemployment rate according to ILO had remained "stable at a high level" in the first quarter of 2010 in France, 9.5% of the workforce in France and 9.9% with the overseas departments (DOM).

– Regarding the euro area: the services sector has experienced growth in May, slightly higher than expected. The index Markit Purchasing Managers (PMI) service sector stood at 56.2 in May, its growth rate was the highest since August 2007, against 56 in "flash" estimate and 55.5 in April.This is the ninth month of consecutive increase this index is above 50, is the line that distinguishes growth from contraction in activity.

– Retail sales in the Eurozone fell sharply in April when economists expected a slight increase from the previous month. In the 16 countries adopting the single currency, sales decreased 1.2% compared to March, its largest decline since October 2008, and show a decline of 1.5% over one year.

Overseas, the day should also be prosperous: Investors await the monthly report of employment in the private sector and the weekly claims for unemployment benefits.Are also expected industrial orders in April, the productivity of the first quarter, the ISM index of services activity and weekly oil inventories.

The car in sight

As for values, Valeo will hold its general assembly in early afternoon. The group expressed confidence in achieving its 2010 target of doubling its operating margin compared to 1.8% achieved in 2009. The automotive supplier is also only for the first half, a operating margin of close to 6% based on a turnover of around 4.7 billion euros. The news pushed the stock market as: the action takes the head of DTH with an increase of 7.35% at 23.50 euros.

PSA Peugeot Citroen for its part occupies the first place winners of the ACC with an increase of 5.48% to 20.60 euros.The builder, who held its general meeting Wednesday, said he would reimburse the billion loan from the State in the second half. The boss of Philippe Varin has also confirmed the target of a largely positive EBIT in the first half. He felt that the positioning of two brands of PSA was not consistent with the lower cost.

Renault, Dacia sales explode in his wake, takes 4.28% to 30.59 euros.

Air France KLM (6.04% to 10.50 euros) on Wednesday, speaking through its Chief Executive Officer Pierre-Henri Gourgeon, the voluntary separation plan of the company had achieved its objectives. This morning, the company also announced that passenger traffic up 4.3% last month, to 6.2 million passengers.With capacities of stable (+0.1%), the load factor is an improvement of 3.3 points to 80.6%.

Maxime Lombardini, Chief Executive of Free (Iliad: + 1.02% to 68.54 euros), said in an interview with Le Figaro that his group had already invested $ 350 million in fiber optics and that it will invest year more than 150 million. "I confirm that we have 4 million homes connected with fiber in 2012," he said.

Saint Gobain (3.47%) held its general meeting this afternoon.

Note that the bank still buffeted yesterday, also benefit from the euphoria: Axa (2.44%), Societe Generale (1.64%), Credit Agricole (2.67%) and BNP Paribas ( 0.27%) are in green.

The price of the stamp will increase to 0.58 euro

May 15, 2010 - 7:59 pm Comments Off

From 1 July 2010 will require some additional documents to send a letter. The price of the stamp of the priority letter weighing less than 20 grams will increase from 0.56 to 0.58 euro, an increase of 3.5%. The economic costs will also increase by two cents to 0.53 euros.

This is the sixth increase in eight years. The price of the stamp for a letter of less than 20 grams had already earned a penny last year. But Post said she "is in the average tariffs in Europe even though the universal service commitments of the post office and geographic constraints are higher in France" instant payday loan.

"The rising price of stamps will have a minimal impact on the household budget, or approximately 0.10 ? per month per household," the statement said.In addition, The Post said they considered the economic situation by adjusting charges for companies depending on their situation: there will be no change for major mailers and the increase will be 0.6% Small and medium enterprises.

The EU is considering a fund to defend the euro

May 9, 2010 - 6:56 am Comments Off

Meeting in Brussels, the Heads of States of the euro area have finally approved the activation of the financial assistance plan 110 billion euros to Greece three years. According to several government sources, the leaders have also discussed the establishment of a fund to help countries threatened to defend the euro. The European Commission could contribute in the form of loans to the tune of 70 billion euros. The European Central Bank (ECB) will also participate.

"Attack of the market is now against the euro and individualized assistance to any country may give an insufficient response of Europe, the priority is a unified response, firm and fast," said one in particular these sources on condition of anonymity.

If agreement seems to have been found on Friday on the need to establish a sustainable mechanism for defending the single currency, the heads of states still fail to agree on every detail. "The discussion focuses particularly on the role of the ECB," said a source close to the talks

Pressure on ECB

All eyes are turned to the ECB effect. The other track would be mentioned that the latter buys bonds issued by states of the euro area, to provide them in exchange for cash. According to these same diplomatic sources, the European Commission would currently pressuring the ECB to make sense in a concrete proposal to support the euro area.

On Monday, the ECB announced it would accept the Greek debt as collateral for its loans, regardless of their credit ratings.Extending this unprecedented step for all countries in the euro area "would be a strong signal to markets" would have said the president of the European Commission Jose Manuel Barroso. But on Thursday, the ECB said it had not considered.

At the meeting this Friday, the president of the European Central Bank Jean-Claude Trichet, have estimated that the eurozone faced a "systemic crisis" easy payday loans.

Tighten fiscal discipline

The euro zone leaders agree at least on the need to tighten fiscal discipline. A commitment to ensure that "Greece is not only to reduce its deficits, but that we work so that all the Stability and Growth speedy again respected," said German Chancellor Angela Merkel in Brussels.

Leaders also stressed the need for better coordination of economic policies in the euro area. Finally the sixteen Heads of State and Government reiterated their determination to "move quickly on the regulation and supervision of financial markets. They also insist on the creation of "a European rating agency.

Barack Obama supports the EU

Moreover, since the White House is that Barack Obama supported the European heads of state on Friday. "I made it clear that the United States supports these efforts and will continue to cooperate with EU authorities and the IMF during this critical period," he said, after talks with Angela Merkel.

American concerns grew at the same time as the market stress.Wednesday, Charles Plosser, a leader of the U.S. central bank (Fed) has assured that "the economic recovery of the U.S. could be delayed by a further turmoil in financial markets. Recent events in Greece are one of the factors likely to influence the evolution of the U.S. economy. "

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Assistance from IMF will not be immediate

April 24, 2010 - 9:52 am Comments Off

The International Monetary Fund (IMF) has just been presented with a request for assistance from Greece. Until now, the IMF provided only technical assistance to Athens. The team of experts is hard at work in the capital of Greece. "We are ready to act quickly in response to this demand," said Dominique Strauss-Kahn Friday, IMF Managing Director. And Youssef Boutros-Ghali, chairman of the board of the institution, recalled: "Aid to Greece will take time. This can not happen from one day to another. "Especially since the Papandreou government is engaged in negotiations on a plan" covering several years. "

So far, the IMF had not been involved in developing the plan of the European Union. This is not a member of the board of the fund. The proposals could therefore engage the IMF, said it does in Washington.It is expected to "several weeks" of negotiations. The amount of the full plan could exceed the record $ 58 billion set by Korea in 1997 with the conditions negotiated by the IMF.

The multilateral institution also assumed that the share of aid to Greece will represent one third of the package agreed by the other countries of the euro area. But this figure could possibly change after the verdict of the negotiators of the fund. The absence of a margin for adjustment by devaluation, however, seriously complicates the terms that the IMF should negotiate with the Greek authorities.This is not entirely without precedent: for example, Latvia has received 1.7 billion euros from the IMF in 2008, as part of an international package of 7.5 billion, while keeping its currency indexed euro.

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Armament: BAE Systems Boeing overtakes Global Leadership

April 12, 2010 - 1:56 pm Comments Off

Not seen since the launch of the classification in 1985! For the first time in 2008, BAE Systems, an advocacy group for non-American, became the leading supplier of arms. The information, published Monday, comes from the International Institute for Peace Research (SIPRI), a Swedish think tank considered a reference material.

According to SIPRI, BAE Systems has been leading the 100 largest arms suppliers in favor of the U.S. market. "The company is based in the UK but generates more than half its sales in the United States. BAE demonstrates the internationalization of the arms industry and the strong appeal of the U.S. market, "says Susan Jackson, an expert of SIPRI.

Sales of BAE established in 2008 to $ 32.4 billion.The bulk of these revenues came from a command of the U.S. Department of Defence who bought vehicles MRAP (Mine Resistant Ambush Protected) as part of the war in Afghanistan and Iraq.

Boeing beat, Navistar enters

BAE Systems therefore delighted number one place to Boeing. The American group, with 29.2 billion worth of arms sales, slipped to third place, and is placed behind his compatriot Lockheed Martin (29.4 billion).

Elsewhere in the rankings after three American groups, Northrup Grumman, General Dynamics and Raytheon. EADS is in seventh place. Italian Finmeccanica is eighth, while the French Thales is tenth.

Almaz-Antei, is the first Russian company to make its entry in the top 20 at the eighteenth spot.With 4.3 billion turnover in 2008, "Almaz-Antei has tripled its sales since 2003," says the SIPRI.

For its part, the American Navistar made a sensational debut in twentieth place with 3.9 billion in revenue from sales to the U.S. Department of Defense. "This represents an increase of 960% compared to 2007," says the think tank.

Three times the development assistance

The SIPRI does not fail to note that in 2008 the 100 largest arms suppliers have made 385 billion dollars in revenue, a figure rising to 39 billion by 2007."This represents more than three times the total development assistance of OECD countries (120 billion dollars)," lamented the SIPRI.

According to the findings of the ranking, sales of BAE are equivalent to the GDP of 105 countries worldwide, while Lockheed Martin exceed 4 billion development aid from the United States.

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The traffic finally off again at Air France-KLM

April 8, 2010 - 9:36 pm Comments Off

In trials with Irish rival Ryanair, and having given up to launch its low cost, Transavia, Air France-KLM posted in March up 4.7% of its passenger load factor to 80, 5% (+5 points), according to a statement released Thursday. The total number of passengers carried in March amounted to 5.9 million people. This is the first increase since December 2008. In February, the traffic had emerged down 0.6%. By comparison, Ryanair carried 5.3 million passengers in March, an increase of 13%. Its load factor was 79% (+2 points).

"The continuing recovery of passenger and cargo operations has been significant in the month of March both in terms of traffic and unit revenue.Even if they were significantly higher than last year, they remain below levels reached in March 2008, "the statement said.

The largest increase (+7.2%) is recorded on the Asia network for a load factor of 88.5% (+5.8 points) against 2.2% for the Americas and Europe, whose respective load factors amounted to 85.1% (+4.4 points) and 67.2% (+4.4 points).

At the Paris Bourse, the stock has lost 1% to 11.87 euros in a market that has yielded 1.20%.

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Carrefour is selling its subsidiary in Portugal

April 7, 2010 - 2:04 pm Comments Off

Adeus Portugal! Carrefour prepares to leave Portugal. According to our information, the number two global distribution has taken the decision to sell the 524 hard discount stores it operates locally under the brand Minipre?o. The French group is preparing to start the transfer process. Contacted by Le Figaro, his spokeswoman declined to make comment. The Portuguese are attached to Minipre?o Dia hard discount branch of Carrefour.

Last year, its turnover reached 915 million euros, down 0.9% compared to 2008. This development has been permitted by opening 26 new outlets. At comparable number of stores, sales fell 6.8%. If it was buckled, this sale would mean the end of the adventure Carrefour Portugal, where the group was present since 1990.In July 2007, the group had already sold for 662 million euros twelve hypermarkets, whose turnover reached 530 million euros so.