Volatility in commodities
Presidential in major cities Paris | Leeds | Lyons | Toulouse | Leeds | Sheffield | Liverpool | Bordeaux | Lille
Presidential in major cities Paris | Leeds | Lyons | Toulouse | Leeds | Sheffield | Liverpool | Bordeaux | Lille
The French seem receptive to advice of tax professionals. In recent weeks, get an appointment with a notary has become very complicated. And the situation should not be arranged by May 6. Alarmed by the tightening of tax rules announced in an election for president Francois Hollande, the French wish to transfer their wealth to their children under current conditions more favorable. The Socialist candidate has indeed warned that it would lower the tax exemption limit of 159,325 euros (set in 2007 by Nicolas Sarkozy) to 100,000 euros. It also intends to extend ten to fifteen years the period between two donations exempt.
Interviewed by Le Parisien-Aujourd'hui en France, and several notaries are reports of increased requests for donation from the beginning of the year. A new situation, as noted by the Council of Notaries which includes national information feedback from the field. In some studies, the number of cases has doubled, and professionals are overwhelmed. "I contacted my lawyer to get information, but since I can no longer be reached," says Martine Perez, who claims that several people around him are now in the same situation waiting, despite a case being finalized.
According to the notaries, the situation does not deserve such eagerness of the French. Even when changing the tax rules in the aftermath of the election, the required publication of implementing regulations to allow taxpayers a few weeks to make arrangements. But the concern is greatest. Amazing phenomenon indeed, it is not just the wealthy. According to Elodie Fremont, notary quoted by Le Parisien-Aujourd'hui en France, a couple of workers chose to give the bare ownership of principal residence to their daughter to keep only the usufruct. A recent decision to avoid being subject to future tax reform.
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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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Time in one week (from March 19 to 25) industry has been in the spotlight in France. No fewer than 2280 events have been deployed to try to reconcile the public with an industry rolled by job cuts. In twenty years, more than 460,000 jobs were lost in the sector, according to the Strategic Analysis Centre (SAC), which provides yet for 2020, 3.425 million more jobs in this industry.
Director of the Ecole des Mines d'Ales, Alain Dorison advocates more than ever for the industry and seeks to expose its students as possible with this medium. "We ensure that our students know the industrial and SMEs and we train them to the culture of innovation and creativity," he says.
Innovation and creativity
On leaving school, 80% of engineers are working elsewhere in the productive sector, and 50% leave in companies of fewer than 2000 employees. "The addition of a large group, it is fame and salary levels. But in an SME, the great wealth remains the variety of missions and jobs, "he insists.
With a tray + 6 "design environment" conducted at the Institute of Arts and Crafts of Chambery, Lawrence Noca has hardly hesitated when the specialist outdoor Lafuma offered him a position in the eco-design and . Since 2011 he is Director of Innovation and Sustainable Development group based in Anneyron in the Drome and operates three production sites in France.
"The textile industry is not the market that we hear first in schools payday loans. Yet there are real problems of production, materials research, "he says. Currently he is working on projects on eco-design hiking equipment and new methods of shaping fabric. "Innovation can be a true way to relocate certain activities," he recalls.
Of wood chemistry in printed electronics
Other rapidly changing industry, paper. "We are in an area where factories are closing, but at the same time moving towards green chemistry, which recovers waste, which will generate employment in the coming years. We talk less and less paper and more and more fiber, "insists Bernard Pineau, director Pagora, the engineering school in Grenoble Institute specializes in the paper.
"We will of the chemistry of wood, boxes and luxury packaging, printed electronics to a market that weighed 3 million in 2008 and is currently estimated at 89 billion dollars!" Recalls Bernard Pineau. The 60 engineers who drop out each year to graduate have no trouble placing in France and abroad (with salaries of about 35,000 euros per year). But it is true that 40% are apprentices. "A quarter of our alumni now occupy positions of CEO or plant managers," commented Bernard Pineau.
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Lack of agreement with the most powerful Italian unions, the CGIL, Mario Monti will try to push through his reform of the Labour Code, which will facilitate dismissals in Italy.
After presenting the text to moderate unions and employers on Thursday night, the Italian prime minister intends to adopt this proposed reform of the Labour Code to the Council of Ministers, this Friday to vote to do so as quickly by Parliament .
"We will make the text so that it prevents any abuse in dismissals," Mario Monti promised Thursday night. Time is running for President of the Council who plays his all on this eagerly awaited by reforming the markets and the European Central Bank.
The confederation CGIL, which refused to sign the text and left the negotiating table, called a general strike. The Democratic Party stands for the first time Mario Monti and promises to fight. The ruling coalition, without which Mario Monti would be powerless, threatens to explode.
On the form, Monti reform aims to modernize an Italian Labour Code dating from 1970, accused of holding back growth. On the merits, it addresses two major problems in Italy: on one side, layoffs nearly impossible in large companies, the other an increasing precariousness of work, without nets worthy of the name.
To break this duality of the labor market – which is found also in Spain – Mario Monti wants to facilitate layoffs by offering social protection to many workers who are deprived, while facilitating youth employment.
Conventional termination
Socially, unemployment benefits would become universal and will last 12 months – 18 months for seniors – and will reach 1,119 euros per month, more than today cash advance loans. Paternity leave would be introduced in some industries. And a fund to support older unemployed will be created. For Stefano Libman, professor of labor law at Bocconi University of Milan, this reform has the merit of "the basis for social protection for the millions of workers now have access to coverage generalized social."
To help youth employment, the reform provides for the rationalization of the types of contracts. In quarantine, they will be reduced to eight. Learning becomes the model contract and will last three years. "In the short term, with the crisis, it will inevitably lead to layoffs. But ultimately, this will create a stable job, "says Stefano Libman.
Blocks where the reform is on the right of dismissal, framed by Article 18 of the Labour Code, which prohibits dismissal "without just cause." In fact, Article 18 does not block a score of layoffs a year, but in the minds he became the symbol of the rigidity of the Italian labor market. The government insists the review. It plans to introduce a form of "conventional rupture" in the French which allows to separate from an employee by paying compensation of up to 24 months' salary.
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The hands of talented British singer and songwriter Eric Clapton, nicknamed "God" (God), she plays alone, the ultimate sound of blues and rock'n'roll. Renowned for its crystal clear sound, the American brand of Fender guitars now also shine on the market scene on Wall Street.
Founded in 1946 by Leo Fender, the legendary American manufacturer of electric guitars, acoustic amplifiers and a record filed Thursday with the Securities and Exchange Commission (SEC) to enter "as soon as possible" on the Nasdaq. The date of the introduction, the number of shares offered and their prices have not yet been disclosed.
The company, which will appear on the Stock Exchange under the symbol "FNDR", hopes to raise up to $ 200 million. The inventor of the Stratocaster, the icon of the electric guitar and one of the most popular models in the world, with "use about $ 100 million of revenue raised through this IPO" to repay a portion of its debts, whose amount is close $ 250 million. "In 2011 we were number one in terms of market share in the U.S. in the field of electric guitars, acoustic, and bass amplifiers and electric guitars and basses," the company said.
Fender Musical Instruments Corporation, owned by the Weston Presidio investment fund, has made 700.6 million dollars in sales in 2011 to a net profit of 19 million. Some 45% of its sales generated outside the U.S., mainly on the European market.
Also Eric Clapton, Fender has among its faithful ambassadors Keith Richards, Mark Knopfler, David Gilmour, Jeff Beck, Bruce Springsteen or Jimi Hendrix in 1967 who sacrificed his Stratocaster on stage in setting them on fire before smashing against the ground.
The inventor of the Stratocaster and Telecaster, Leo Fender, a creative force unmatched, gave his company to CBS in 1965. Fender grew considerably in the years that followed, before passing through an air hole associated with a lower quality instruments. In the 1980s, CBS will sell all its non-media related. A group of employees and investors led by William Schultz and his family and buy Fender to CBS in 1985.
Started from scratch
The new company had to start from scratch, including the sale or factory or machine. The emblem of the American guitar succeeds, however, his recovery, extending its grip on trademarks Guild, Gretsch, Jackson and Charvel excluding professional sound equipment. In 2008, Fender acquired Kaman Music Corporation (KMC), the largest U.S. independent distributor of musical instruments.
Based in Scottsdale, Arizona, with a production facility in Corona, California, Fender has continued to cross swords with Gibson, another giant of the electric guitar that Jimmy Page, Led Zeppelin, is one of the greatest followers. His fetish model, the Les Paul, was designed in the early 1950s. At its heavier and fatter than her rival Stratocaster, the Gibson Les Paul ignites always also rock the world stage.
After many twists and turns, Greece is on track to reach agreement with its private and public creditors on Monday. After Jean-Claude Juncker, the leader of the euro area, which showed his confidence on the outcome of the meeting scheduled for Monday, it was the turn of the Spokesman of the Greek government to report his optimism.
Pantelis Kapsis estimated that his country has "the green light of the Eurogroup on Monday to continue the proceedings". In fact, the latter confirmed that Athens would have found a way to fill the gap of 325 million euros in the 2012 budget, the last condition set by the Troika (the IMF, the ECB and the European Union) to unlock loan of EUR 130 billion and run the erase operation 100 billion of securities held by private creditors. According to Greek media, these savings would come from additional cuts in special pay schemes public service, drop some special pensions and declining defense budget and pharmaceutical expenditure.
Moreover, the European Central Bank and central banks of euro area countries have initiated the exchange of Greek bonds in their possession against others, to generate capital gains that should ultimately benefit in Athens, according information reported by the German daily Die Welt guaranteed payday loans.
The markets also seem to believe that an agreement will be reached Monday. This morning, the stock markets in Asia are well oriented, driven by good statistics in the United States but also by the hope that agreement will soon be born. U.S. markets ended Thursday's session at their highest level since May 2008.
But Greece could agree to pay this price. The release of the necessary loan of 130 billion euros would indeed be conditioned to a wider public audit of the country. The agreement would include the creation of an escrow account which would contain sufficient funds to repay the debts of the country over the next twelve months. Moreover, Athens would complete a list of "24 priority actions" before the end of the month and before the release of the famous loan of the Troika, says the Financial Times.
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The effect of the crisis was immediate for the television market and particularly for TF1. The first French commercial channel just announced for the first nine months of the year, a decline of 1.6% of its advertising revenue to 1.054 billion euros. The decline is even more pronounced for the third quarter, which ends, as advertising revenue in the chain were down 3.2% to 296.6 million compared to last year at this time.
An equation that TF1 attributed to "a macroeconomic environment less favorable than expected, especially from September." This "economic uncertainty", leads the group also anticipated for the year 2011 "a withdrawal of consolidated turnover of about 1%."
However, if the proceeds of the TF1 channel degrades, the group announced a turnover in nine months, up 0 paydayloans.7% to 1.826 billion euros.Other activities of the group saw their income rise by 3.9% over the same period to 784.4 million euros, while in the third quarter of 2011, this position is up 12.6%, to 264, 6 million euros. This is due, according to the broadcasting group, "the increase in sales related to the acquisition of TMC and NT1 and the performance of subsidiaries of diversification." In fact, the first nine months of the year and all antennas together (TF1, TMC, NT1, pay channels), the advertising revenue rose 2% to 1.494 billion euros. In the third quarter, it rose from 424 million a year ago to 442.3 million in 2011.
Time is now against Silvio Berlusconi. He must prove to the faster it puts its promises into action.
The head of the Italian Government is committed to the adoption by Parliament before Nov. 15 its plan to revive growth, the first stage at least. The measures were approved Wednesday by the Cabinet. Among the main liberalization of regulated professions and local public services, commitment to gradually raise the retirement age to 67, administrative simplification, auction of 15 billion euros in property assets of the state in three years.
This plan is in addition to 54 billion budget savings passed in September to restore public finances to balance by 2013, when the deficit reached 3.9% this year.
The first event will be played next week in the Senate.
Real estate developers – Kaufman & Broad and Celeos Breton – had already tried it. This time, the third network of estate agencies in the Hexagon who try. Guy Hiccups launched an operation on November 1, private sales and offers to acquire a selection of existing homes in 1800 throughout France, with discounts up to 20%, according to Frederic Monsu, general manager of the network fast cash now. The goods concerned have been selected by franchisees and validated by headquarters. These apartments and houses for sale in recent months but have not yet been sold, or property newly entered in the agencies, but whose owners are eager to sell.