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Justice always seeks to measure the responsibility of France Telecom in the wave of suicides that killed dozens of employees – 62 according to unions – from 2008. As part of the investigation for "bullying" opened in 2010, the Paris headquarters of the operator Tuesday was the subject of a search. "We confirm a search operation on Tuesday. This is the logical continuation of the current statement since April 2010, "reported AFP a spokesman for the group.

The unions, on Tuesday, have welcomed the progress of the investigation. "The first stage of training had gone through investigations in the family and business contacts all victims with fifty letters rogatory throughout France. This accelerated instruction is positive for us especially if it leads to a trial which, hopefully, will condemn the brutal methods employers and work organization pathogen, "says union South in a statement.

It is based on a report critical of the Labour Inspectorate that the Paris court decided two years ago to respond to the complaint filed by the SOUTH. A 82-page dossier analyzing the circumstances of the death of 14 employees of the operator, which concluded that "the implementation of labor organizations likely to cause serious harm to the health of workers." Very critical of "the politics of reorganization" led the company since 2006 to modernize, the report pointed "management practices that characterize bullying personal business card."  

New social contract

He also stressed that despite the repeated warnings of occupational physicians, labor representatives and health insurance funds, the operator continued implementation of its modernization plan "Next", launched in 2005. Among the means used to improve the efficiency and effectiveness of the group included the elimination of 22,000 jobs over three years and the transfer of 10,000 employees. In 2010, the Paris prosecutor had however held that the charge of "harassment", rejecting that of "endangering the lives of others."

The wave of suicides has already impacted the operation of the operator. Starting with its CEO. Didier Lombard, originally the plan "Next" and author of clumsy on about a supposed "fashion suicide" was replaced in March 2010 by its director France, Stéphane Richard. With a completely different style than its predecessor, it has sought to pacify the group. A new social contract, a discourse more transparent and promise to hire 10,000 people helped to reduce the social crisis. Interviewed by the company last September, employees seemed to feel a slight improvement: welfare to work was rated 6.8 out of 10 then, against 6.2 a year earlier.

The Chinese do not like only the French luxury products, but also focus on the simplest of materials, like wood. Thursday, the National Federation of the wood (FNB) has protested against China's imports of logs, the logs were felled with cut branches but still covered with bark.

"Since 2007, Chinese imports of logs have soared, says Lawrence Denormandie, president of FNB. In 2008, China imported about 30,000 cubic meters of logs in French oak. In the first half of 2011, imports stood at 121,000 cubic meters. "

Log prices upward

Chinese companies import raw product, and then transform it into boards and furniture, which are then exported to Europe. China's economic growth partly explains the growing need for wood, but also points Denormandie Lawrence "the Chinese authorities' desire to protect their own resources." The fear comes mostly from the accelerated movement. "Currently 15% of the volume of oaks harvested in France go to China, as against only 6-7% just four years, warns douzain Nicolas-Didier, managing director of the FNB. For beech, the volumes exported to China account for 10 to 12% of production, against 5-6% previously. "

This phenomenon affects first sawmills. "These purchases push log prices upward," complains Julliot Dominique, president of the sawmills Together Châlonnais. FNB advances up 20% for oak and beech to 15% last year. "The difficulty in obtaining timber under normal conditions begin to threaten the supply of certain French sawmills," says Dominique Julliot.

"We want reciprocity agreements"

It then becomes difficult to invest in new machinery or upgrading facilities. Consequence: mill closures are accelerating. Between 2008 and 2010, their number decreased by almost 11% in the Hexagon.

"We do not require a cessation of exports, however, plays Lawrence Denormandie. We want reciprocity agreements. "China has implemented a series of import taxes, low on logs and becoming stronger as we get closer to the finished product, designed to protect domestic industries . There are none in Europe. "Quotas for export would not be a bad idea," says Lawrence Denormandie.

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In recent weeks, investors do not understand anything. Some have seen all of their interests in 2011 life insurance policy amputees 13.5% Social Security contributions (CSG, CRDS …). Others paid much less. CNP Assurances, for example, said she has not applied the 13.5% interest acquired all of 2011 … for the simple reason that it was applicable as of 1 October in 2011. Before that date, and the tightening of government tax, the rate was only 12.3%!

ING Direct, he admits he was wrong. Customers have received an email, stating that the amount of payroll taxes that had been indicated (13.5% for all interests in 2011) was erroneous. The situation will be rectified in order to apply a rate of 12.3% through September.

This means that the position of tax administration, questioned on the issue, has been eagerly awaited. She gave his answer Wednesday. Disappointment! It returns insurers and investors to their contracts! Because, of course, the rate of 13.5% applies only to interest earned since 1 October 2011. But to know when these interest-precisely-are "acquired", "should refer to the relevant clauses of the contract," says Bercy. Back to square one, therefore.

For Aviva, the manager of the famous Afer contract, signed by some 720,000 savers, the interest shall be granted unless the performance of the contract for the year is calculated, and so when the interest is credited to an account. Or early 2012. That's why he applied the 13.5% interest in all the euro funds earned by the insured during the past year. This clause is most detrimental to investors.

For other insurers, we can at least take into account the minimum guaranteed rate. Many contracts provide a minimum return in effect during the year (it is applied especially to investors who end their contracts before December 31, and thus before the yield used for the past year is known). It is less generally used to return ultimately, but it has the merit to exist. If the contract considers that the interests are acquired at least the minimum rate during the year, it is enough to apply 12.3% Social Security until late September. And apply the 13.5% that of the rest.

Louis Welsh, CEO of aerospace group EADS, Airbus' parent company, for another few months, had assured him a few weeks ago the BBC: "We will continue and we will resist external interference." The confirmation of the German Ministry of Economics of a possible rise of Berlin the capital of the group could make the mission more difficult. The German government has indeed made a provision that could be used to repurchase additional shares of EADS.

Last November, Berlin had confirmed the recovery of half of the shares of the automaker Daimler, or 7.5%. The aim of the German government was not to lose ground against the French government retaining these shares in the lap of Germany.

But Berlin could therefore go beyond. The government has made a provision so that the public bank KF – who had already intervened in the case Daimler – can optionally be able to take additional units, the ministry said. In Focus, 4.5% stake now held by a group of private investors, shareholders also 60% of a consortium named Dedalus. This last group of public and private investors, includes, alongside great names of German finance Deutsche Bank, Commerzbank and Allianz, regional states in which EADS operates in Germany (Bavaria, Baden-Württemberg, Hamburg and Bremen ). Dedalus has a total of 7.5% of the aerospace group.

Power relations

By the end of the year, the consortium Dedalus might decide to sell 4.5% stake. If he offers to the German State, it will be obliged to redeem them, the ministry said. Deutsche Bank and Allianz, who took 10% of each Dedalus at the time of formation of the structure in 2007, did not comment. According to the Financial Times Deutschland, the provision of government reach 1.6 billion euros. The new acquisition would amount to 12% of Berlin's participation in the capital of EADS. According to Les Echos, it could reach 13% if we add the 1% held by the public bank KfW in Dedalus. In front, France has 15% stake, and Lagardère 7.5%.

The balance of power at EADS are a sensitive subject. Recently, the German government has expressed its fears of excessive weight of France in his eyes in the division of roles and assignment of key posts, including the changeover from the center of gravity of EADS in Toulouse. Thomas Enders, Airbus President and current successor of Louis Galois, had proposed to his headquarters in Toulouse.

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A chaotic situation in the euro area, decorated with the prospect of a presidential election in France: the cocktail did not much attractive for foreign investors in 2011. In this context, the attractiveness of the Hexagon folded but did not break. The country remained in second place in Europe for the number of foreign investments in 2011, behind the United Kingdom. According to the annual balance sheet submitted by the French Agency for International Investment (AFII), France last year attracted 698 new foreign investment projects that create jobs. If Bercy wants to see "the second best result since more than ten years," it is nevertheless a figure down from the previous year, while the Hexagon had attracted 782 investment. In 2011, investments were divided between extensions of existing settlements (46% of total) and creative (46%). Other projects include the purchase of ailing companies or acquisitions. As usual, many of the investments (60% in 2011) is of European origin. Companies from North America account for 25% of the total-the United States last year have again become the first country-investor in France, and those in Asia for 11%. The emerging countries of taking off no teletrek payday advance.

Some 27,958 new jobs resulted from foreign investment. This figure, down 12% compared to 2010, confirms a basic trend: the size of investment projects knows "a steady decline for several years." The average number of jobs created or maintained by the project was 60 in 2006, 55 in 2007, 50 in 2008, 47 in 2009, 41 in 2010 and 40 in 2010. The Afii explains one side by the proliferation of projects with high added value, which by definition have less need for labor; another, it recognizes "the caution of some investors, which reduce the initial ambition of their projects in an economic recovery remains fragile, "says Afii. "The crisis in the eurozone could cause some wait, which is being squandered. It would also be a lie to say that the electoral event is not regarded in the world, "said Minister of Economy, Baroin.

The challenge for France is important: foreign companies employ more than two million employees in our country, realizing 20% ​​of R & D and entrepreneurship are the source of more than a third of French exports.

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Guided by prudence and using a firm fingering, Angela Merkel hopes to finally bring his talents to HRD. German Chancellor, nothing could contribute as much to instill the "culture of stability Germanic" within the European Union that the appointment of his finance minister, Wolfgang Schäuble, at the head of the Eurogroup. The Financial Times Deutschland, Berlin is active behind the scenes in Brussels to impose this appointment.

The current head of the Eurogroup, Prime Minister of Luxembourg Jean-Claude Juncker, whose term expires in June, said he would not re-enlist. Refusing to comment on the rumors surrounding Schäuble, Berlin, however, refrained from any lie. Schäuble "is an excellent Minister of Finance and plays an important role" in the Eurogroup, was content to meet the Chancellor. "A series of appointments ahead" in Europe, she said simply.

Ratage ECB

According to an agreement within the EU, appointments to the head of the Eurogroup, the Executive Board of the European Central Bank (ECB), as Chief of the European Bank for Reconstruction and Development (EBRD) and Director of the European bailout fund (SS) must be negotiated in a block. If Merkel gets the nomination of his finance minister at the head of the Eurogroup, she will forfeit seek the leadership of the MES for the German Klaus Regling, current director of the European Financial Stability Fund (EFSF) fast payday loan.

Angela Merkel, who missed one after the appointment of a German head of the ECB, then the position of chief economist of the institution, actively probe its partners.

The weight of the AAA

Experienced, respected and influential, Wolfgang Schäuble, 69, "has the best cards" to chair this group which brings together the finance ministers of the euro area, ensures the Financial Times Deutschland. Italian Prime Minister, Mario Monti, busy with his duties, and Finland's Jyrki Katainen have both declined the direction of the Eurogroup. Early in the week, Wolfgang Schäuble had implicitly placed in the race, ruling that the countries receiving AAA "are more likely to nominate a candidate" at the head of the Eurogroup.

However, the French president has not given its assent to the appointment of Schäuble. "Nicolas Sarkozy fears that Germany's position becomes too strong," writes the FTD. The paper added that the secretary general of the Elysee, Xavier Muscat, covets the leadership of SS.

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2011, bad year for the Japanese economy. But less bad than expected. The gross domestic product (GDP) of Japan fell 0.2% in the fourth quarter of last year, bringing the decline in growth throughout the year to -0.7%. The Japanese government initially expected a decline of 0.6% between October and December, which would have increased to 0.9% GDP growth over the twelve months.

Struck by an earthquake and tsunami March 11, 2011 which were 19,000 deaths, Japan saw its number of damaged plants and encountered severe disturbances on its electricity production. At this natural disaster were added the slowdown in global demand, a stronger yen and floods in Thailand where many Japanese companies are based, in particular the automobile.

Today, the Japanese economy remains fragile. The government and the central bank of Japan (BoJ) hope however dig us out of slump with a series of measures introduced to boost consumer spending, business spending on support by providing funding solutions, and contain the surge of the Japanese currency.

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On February 20, during the auction of the hamlet of Courbefy, located 40 km southwest of Limoges, no buyer had appeared, despite a retail price of only 300,000 euros. With the effect of media coverage, between 150 and 200 buyers from around the world are scrambling to try to acquire this highly original property, offered for sale price of a two-room Paris.

Without buyers, the entire village, 19 rustic buildings in various states, the boxes for horses, pool, tennis court, culminating in nearly 557 meters high with a beautiful view of the mountains of Chalus in the Périgord Limousin regional park, should return to Credit Agricole, creditor's last owner who could not repay the loan. Its proposed resort, launched in 2003, has never worked and went bankrupt, causing the abandonment of the site in 2008.

The news of the sale of Courbefy was first taken up by the media in France, before being scattered by the whole world, fascinated by the idea that a whole village could be sold for a price as ridiculous . "Admittedly, this is an offer very original, very unique, because the entire village is sold at once," says Mr. Paul Le Figaro Gérardin, counsel for the Credit Agricole. "It's because someone has bought one by one all the houses after the abandonment of the hamlet."

After being abandoned by its last inhabitants in the 1970s due to rural exodus, the small village of Courbefy might find occupants with a last minute deal last Thursday filed with the court registry by Limoges an American company, AHAE Press, registered in the State of New York. This entity belongs to the Korean-born American photographer Ahae, artist specializing in landscape photography and wildlife, whose exhibition "Through my window" must be presented at the Louvre in Paris from June 26 to July 23.

With its 10% deposit of the purchase price, the sale process is restarted, and new auction will take place at court of Limoges on May 21. "I'm sure will be many bidders," suggests Paul Gérardin me. "We have already responded to 150 to 200 inquiries from around the world. Initial requests are first come from the Paris region, London, Belgium, the Netherlands, Sweden and other European countries before coming the United Arab Emirates, China, U.S. and Russian. "

One potential buyers, a Dutchman, wants to use the hamlet for a reality TV show in which participants would call premises in shape.

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It is a repudiation for the Competition Authority. The institution, which had inflicted 385 million euro fine in September 2010 with the main banks operating in France on their pricing of check processing, has seen its decision questioned by the Court of Appeal of Paris. In a ruling Thursday, the latter took the view that in this case, "the grievances of Understanding (…) can not be accepted" and that the banks concerned "should therefore be exonerated ".

The case dates back to the early 2000s, when banks have embarked on the computerization of processing checks. They are then granted to establish interchange fees, naturally passed on to end customers.

Fines must be repaid to banks

Banks have justified the introduction of these fees, which were abolished in 2007, the cost that they accounted for the modernization effort of check processing. One argument considered to be unfounded by corporate treasurers, who saw the impact fees.

In September 2010, the Competition Authority found in favor of the latter, and denounced an agreement on final prices payday loans in one hour. A vision not shared by the Court of Appeal of Paris, sought by banks complained, BPCE, Post Bank, BNP-Paribas, the National Confederation of Credit Mutuel, Crédit Agricole, Crédit du Nord, CIC, LCL HSBC France, Societe Generale.

In its reasoning, it considers that the commissions were "directly related to the new system paperless exchange of checks, public interest project neutral in terms of competition law …". It also believes that the Bank Agreement does not constitute "an agreement on final prices."

The Competition Authority may lodge an appeal. When asked, a spokesman said the institution consider what action would give the matter. Fines paid to the Treasury must be repaid to the banks.  

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The German electricity grid are on the go. Wednesday they activated two gas plants located in Austria, Theiss and Korneuburg, called "cold reserve" and the old coal plants, normally unprofitable.

But contrary to information relayed by AFP, no nuclear reactor, one of eight closed last spring, has restarted.

"Nuclear power plants have not restarted," said Le Figaro Uwe Ditz, spokesman for the power grid Tennet. "This is a decision of political authorities." In fact, the licenses of eight reactors arrested were withdrawn by the government even if it did not rule out restarting three reactors in case of peak demand caused by a cold snap.

Restarting a nuclear reactor is more complex and longer than that of a gas turbine, coal or fuel oil.

In this period of extreme cold, Germany, with its thermal reactivated, manages to export electricity to France. The German Minister of Ecology, Norbert Röttgen, welcomes the surplus products, against all odds in winter, solar and wind power: "We had these last days capacities up to 10,000 megawatts (MW) solar energy , the equivalent of ten nuclear power plants and up to 11,000 MW of wind power. "