Critics of the measure as its proponents can not but agree with Bernard Thibault: it will be "an event in Europe." Francois Hollande promised that one of his first acts would be to extend, by order, the possibility for some employees to retire at age 60. "This is the first time in many years that a government will come back to this vicious cycle of decline (…) of the retirement age," welcomed the head of the CGT, Monday on RTL. But he also explained why the measure seemed insufficient. The new president has been clear during the campaign: to qualify for this exception to the legal age (increased gradually to 62 by the reform Woerth), it will have paid 41 years. Contributed, and not validated this period. Nuance size. The pension system "offer" because of the quarters to insured under the National Solidarity, in certain situations – maternity leave, parental leave, military service, unemployment, illness or disability long – they do not work, so do not contribute not. Eight quarters are also given to parents for each birth (in fact, almost always mothers).

In practice, it will be necessary before having worked 19 years without interruption, to stop work at 60. An extension of the device 'long career "already open to individuals who began their careers at age 17 or earlier, which would affect about one in four insured approaching the retirement age (150,000 persons per year).

"We are pleased that this improvement is around long careers, both criticized at the time by the CGT and FO," says Jean-Louis Malys, the "Mr. Retreats "of the CFDT. The union had obtained this system in 2003 by François Fillon and Jean-Pierre Raffarin, in return for a longer contribution period. "Francois Hollande, the PS then premiersecrétaire very reluctant, has resumed since the principle of lengthening the contribution period as life expectancy," says Jean-Louis Malys. However, he announced his willingness to discuss "special cases", not to penalize the unemployed or housewives. The device 'long career "has two current relaxations: are deemed assessed periods of sickness, maternity, accidents at work (a maximum of 4 quarters) and national service.

Extensive consultation

The other unions are more virulent. "It is essential to discuss the modalities of implementation," Bernard Thibault requires. Otherwise, "this could be one of the first clashes with the government," threatened Jean-Claude Mailly (FO) last week. The obstacle is financial: the measure, in its limited version, should have cost up to 5 billion per year (funded by increased contributions) to the single basic plan. Perhaps these unions show they less indecisive when it comes to transpose to supplementary Agirc-Arrco, they co-manage with the employers. The cost is estimated at about 50% of that weighing on the basic plan.

Anyway, this step will be temporary, before consulting widely on the whole pension system. Age, duration of assessment, funding, harmonization of rules between plans, hardship …: everything can be discussed, promised the new head of state. But again, the financial strain will weigh. The Board of Retirement Guidance indicated that he would end 2012 new projections. And its president, Raphaël Hadas-Lebel, has already warned the crisis will result in a degradation of the accounts.

ALSO READ:

"The" Sarkozy measures "that Holland has undo

"The majority vote of the senior right

Two billion euros. The Intermat 1350 exhibitors, which was held from April 16 to 21 in Villepinte near Paris, have not mégoté their investments as they exposed construction machinery and construction worth a total of 2 billion. "This very large sum shows business optimism this year," explains Maryvonne Lanoë, commissioner general of the show.

This event is the meeting point for all actors of the French markets, Southern Europe and North Africa. "The trend is quite good, says Philippe Haugenauer, Sales Director France of Japanese Komatsu. We have seen the show many people who have projects, although few orders were signed on the spot. "With a turnover of EUR 18 billion, the Japanese group is the second largest manufacturer of equipment BTP in the world.

Strong rebound of the market

Reinforces a sense that the latest figures released by manufacturers. "The aggregate producers, who are our customers, have a very good first quarter, so a little unexpected," says Michel Herr, CEO of France Sandvik, the Swedish group specializing in drills and milling machines. The reason: the great works decided by the government after the 2009 crisis. "We take advantage of highway construction and high-speed lines, including those linked to Tours and Bordeaux, Michel Herr says. This allows us to benefit from a good order book for the second quarter. However, we lack visibility for the future. "

Despite its 15% growth in its European business in the first quarter, Saubot Alexander, general manager of Haulotte Group, Europe's leading manufacturer of aerial work platforms, believes that "this increase is lower than it should be given the fall market in Europe since 2009. " The activity is still far from the highest recorded in 2007 and 2008. Above all, Europe pales in terms of total growth over the period of Haulotte: 24%.

"The strong rebound in the global market for public works equipment recorded in 2010, to 17%, and 2011, 24%, is due in part because it had collapsed by 50% between 2008 and 2009" , said Maryvonne Lanoë. The activity remains well below the pre-crisis level.

"There are many projects, the problem is now often funding," says Philippe Haugenauer elsewhere. Dynamism that allows Buronfosse Renaud, chief representative of ICASA, the union representing the manufacturers of construction machinery, metallurgy and handling, be optimistic for the current year: "We envision an increase of business activity of the profession of 5 to 7% in 2012. "

Switzerland scored a point in the standoff that pitted him against Washington on banking secrecy. The Federal Administrative Court, one of the highest courts of Confederation, April 5 opposite end of inadmissibility to the IRS claimed that the transmission of names of clients of Credit Suisse, suspected of tax evasion. The judge considers that such data would be contrary to the bilateral tax treaty dating from 1996 and still in force. Switzerland is committed in March 2009, to comply with OECD standards for exchanging information that eliminate the distinction between fraud and tax evasion, but the new agreement, signed in June 2009 between the two countries, n has still not been ratified

.

Swiss court does not take into account an amendment to this agreement, voted on March 5 by the Swiss Parliament, which authorizes collective applications from the IRS. "The court decision complicates the government's position, who wants to reach an agreement with the United States," you recognize in Bern.

Three years after officially renounced its banking secrecy, Switzerland is still leading the fight to preserve the attractiveness of its financial center. She leads him on two fronts: against the United States where the Helvetic Confederation resists transfer of bank data, and at European level by negotiating tax agreements that preserve the anonymity of customers.

The precedent of the UBS case

This is the United States that the battle is the hardest. Beyond Credit Suisse, ten institutions are in the crosshairs of the IRS, with the implicit threat of removing banking licenses. In the case of UBS, who had come to shatter the secrecy in 2010, the Administrative Court had already refused the transfer of data. Until Parliament gives green light and ends in 5000 bank data delivered to U.S. authorities.

Switzerland is in a better position in negotiations with the EU, has always been divided on tax issues. If France calls for an end to bank secrecy, through the automatic exchange of information, other countries including Britain and Germany, Austria, Greece and the Netherlands are tempted to accept the Rubik agreements: a withholding "quick and effective" that pays billions to state coffers – $ 10 billion in Germany in exchange for preserving the anonymity of accounts.

So far, Switzerland has signed two agreements "Rubik" with Britain and Germany. Yet to pass the test of Parliaments. In Germany, the Bundesrat – Upper House – dominated by the Social Democrats could oppose a text "which guarantees the anonymity of fraudsters." His vote, expected in June, will be decisive for Switzerland.

ALSO READ:

"Banking secrecy: Switzerland yields to Washington

"Accounts in Switzerland: Towards new rules

"Tax Evasion: Switzerland wants to tighten its laws

"Switzerland is in a dilemma facing its banks

The long Easter weekend has not relaxed the markets, awarded three simultaneous bad news: a weaker recovery than expected in the U.S., that growth has stalled in China, and renewed tensions in the eurozone , with Spain in the crosshairs.

While Asia had started the day down 1%, European stock markets have accused the coup at the close: -3% in Paris, and Madrid, Milan -4.98%, -2.49% in Frankfurt , -2.24% in London. Europe has ended up contaminating Wall Street, down 1% in late afternoon.

Slowing demand in China

Although Spain appears to be the new abscess, fever markets could last as it is based on a disappointing international situation from Asia to America. Across the Atlantic, unemployment continues to fall, to 8.2% in March, but job creation, twice lower than expected, have cast a chill. Ben Bernanke's remarks, noting that the U.S. economy is "far from being fully recovered," did not help.

For its part, China sees its exports not only slow (8.9% yoy) but significantly curb its imports, to 5.3% instead of 9.3% expected. This is a sign that "domestic demand continues to slow," judge an economist at HSBC. Now this is supposed to be the new engine of growth of the country this year.

In Japan, the third world economy, the central bank left its key interest rate unchanged between 0.0% and 0.1%, while the Japanese government hopes that the establishment gives a boost to activity in the fight against a too strong yen, which penalizes companies of the Archipelago.

Pressure on interest rates

In Europe, the OECD observes that "signs of recovery," especially in Germany, but the markets are worried about the fragility of Italy, France and Spain (see below). In one week, the Paris Bourse lost 5%, 6% Madrid and Milan 8%.

Concern that immediately led to considerable tension in the bond market with rising interest rates to borrow ten years in most countries of the euro area. The lifts were for the most significant rates that Spanish and Italian, respectively 5.852% and 5.527%, were dangerously close to 6%. This proves that "the recent liquidity injections from the European Central Bank failed to calm markets," says Natixis. In the eyes of the broker Aurel BGC, they focus "on growth." And tensions will last as long as it will not be at the rendezvous.

ALSO READ:

"Wall Street down, weighed down by U.S. employment

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.

ALSO READ:

"The wood burns in the Ile-de-France

"The French forest largely untapped

"The forest, a robust investment

Vivendi confirmed Monday, after market, the departure of Frank Esser, CEO of SFR, revealed by Le Figaro. This departure will be effective from the end of the week. Jean-Bernard Levy, CEO of Vivendi, this function takes live indefinitely. No other redesign teams SFR is expected. The announcement of a smooth transition reassured the 10,000 employees of SFR, where the announcement of the departure of Frank Esser, who presided over the destiny of the group for twelve years, has been a bombshell.

Vivendi wants to take the time to find a new boss for its subsidiary SFR, a pivotal moment in its history. Greatly shaken by the arrival of Free in the mobile sector, Vodafone is obliged to rethink its economic model. And why the research group "rare bird". Several names of potential candidates circulate: Bertrand Meheut (current CEO of Canal +), Thierry Breton (CEO of Atos), Didier Quillot (former CEO of Lagardère Active), Michel Combes (CEO Vodafone Europe), Gilles Pelisson (ex- Accor CEO) and Jacques Veyrat (Direct Energy) … But none is needed.

One thing is certain, the chosen one will have a profile of "cost killer" while SFR expects a decrease of 12% to 15% of its EBITDA margin in 2012 and Jean-Bernard Levy said at the Vivendi earnings presentation in early March, the need to "tighten the bolts." The future head of SFR should be able to reassure financial markets, while the decline in profitability of SFR weighs on Vivendi. The stock has lost 17% since the beginning of the year.

The departure of Frank Esser was decided Friday afternoon during a supervisory board of Vivendi, and presented Monday at 5:00 p.m. in the Board of SFR. It does not seem to be a coup as often in the wars of succession, but a decision by mutual agreement. Friday, same day that his fate was sealed, Frank Esser was attending a lunch with the entire executive of Vivendi, in which Jean-Rene Fourtou, director of Vivendi, and Jean-Bernard Levy have sent him some very complimentary. Frank Esser, Mannesmann's German came (acquired by Vodafone), is indeed recognized and appreciated by both teams by his peers.

Free to adjust the face

But, before the onslaught of Free Mobile, it was essential to give new impetus to SFR, which lost 200,000 customers between 10 January and late February. "Jean-Bernard Levy knows SFR. We are confident in its ability to revitalize all appear the beginnings of a stabilization of the situation. After the initial excitement, Free began to experience a certain loss, "said a spokesman for Vivendi.

The task does not look easy. We'll have to cut some expenses without burdening the future. "In the hundreds of service developments underway at SFR, it will have to choose between those that are essential for the future and those who can be stopped, says an inside source. Always painful choices that force teams to redeploy réinternalisant projects that were previously outsourced to external service providers. "The suppliers and providers of SFR should be the first affected by this clampdown.

Add paid features

It will also have to rethink the positioning packaging opportunities. Free Mobile face, all operators have launched entry-level offerings, sold only on the Web at very aggressive prices. But where Bouygues Telecom, the first chopping last July, has managed to impose "B & You", followed by Orange with "Sosh" SFR has not really enticing with its brand "Red" launched in late September.

But offers low-cost, direct response to Free, are not the only priorities. The operators were able over time to all-inclusive packages (visual voicemail, MMS, mobile Internet …). We must now all unravel for a basic package comparable to that of Free, which you must add a number of services at extra cost. A vast perspective.

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.  

ALSO READ:

"The Competition Authority provides an active year

"361 million euro fine for a cartel of laundry

"Heavy fines for eleven French banks

Hocus-pocus, coup, betrayal … and Socialist Trade Unions slam in chorus the vote "on the sly," Jan. 31 in the Assembly, a provision that amends the labor law. Section 40 of the bill Warsmann simplification of the law provides that "the establishment of a distribution of hours over a period longer than the week and not more than the year under a collective agreement is not a change in the employment contract. "It aims to extend a 2008 law which allows to modulate the working time per company agreement but requires the approval of each employee. A condition that prevents any modulation in practice.

Alain Vidal, in charge of employment in the Holland team, justified his opposition to this change: "A new organization of work may be incompatible with the family and personal life of each employee." ……. .

"The employee will have no choice but to accept the blackmail against new employment zones and / or pay cut, otherwise the dismissal without recourse," says Bernard Thibault (CGT).

But above all, Jean-Claude Mailly (FO) sees a "gap" to develop competitive employment agreements, while Francois Fillon has given two months to the social partners to negotiate on this idea. "This is a first step in the government's willingness to allow the employer to lower both working time and remuneration without the explicit agreement of the employee," he feared. "It is contradictory that Parliament legislates on an element of negotiation to be open, except to reduce the usefulness of this negotiation," abounds Francois Chereque (CFDT).

Short memory

"This provision only relates to working time arrangements and not contrary to the logic of competitiveness, employment agreements, to the articulation agreement in the same working time, work organization and remuneration", they responded by Xavier Bertrand wrote. The Minister sees no "interference with the negotiation," which starts Friday.

Unions are also far from having discovered this provision on January 31. It had been passed in the same terms, at first reading, the … October 18. So, before Nicolas Sarkozy calls for competitive employment agreements. And social partners had been consulted on the text in September by the Ministry of Labour! The CGT had cried foul but the CFDT held that section would "in the right direction." As for the PS, he had voted in the late 1990s, laws in 35 hours, a provision that an agreement down-modulating working time would be required for each employee.

"No organization has raised the subject during the preparatory meetings at the Social Summit, nor subsequent discussions on competitiveness employment agreements," says Xavier Bertrand. "We had forgotten," says a trade unionist. The text should be considered on second reading in the Senate next Monday, and then finally adopted by the deputies on Feb. 29.

ALSO READ:

"Competitiveness and employment: no law before the presidential

"The social partners will discuss working hours

Voter participation could offset the overall cost of the operation, however, revised upwards. The latest estimates by the Socialist Party reported a budget of 3.5 million euros, against 1.5 million originally planned.In an interview with Journal du Dimanche, the spokesman of the High Authority of the primary, the lawyer Jean-Pierre Mignard estimated that this cost is related primarily to "the need to recover a significant number of voters who were in the wrong format. "

Moreover, strengthening the means of control is more weighed on the invoice. In particular, the PS did not foresee the rental digital pens to prevent fraud. The cost would reach 300,000 euros guaranteed pay day loans. Similarly, the recruitment of many bailiffs should have a significant cost, recognized Jean-Pierre Mignard.

Elected officials and activists in support of the campaign budget

In addition, the campaign paid envelope to each candidate was revised upwards just before the campaign. Thus, each participant had € 50,000 instead of 30,000.A total re-evaluated to finance new travel and meetings and printing of new leaflets.

But the two favorites polls, Francois Hollande who collected 39% of the vote to Martine Aubry (31%) did not hesitate to seek their support, politicians and activists, to finance their campaigns. In the end, the campaign of François Hollande should cost 250,000 euros to 200,000 euros against Martine Aubry. The deputy director of the campaign Arnaud Montebourg, John Palacin, recently reported that the campaign Arnaud Montebourg cost nearly 100,000 euros, funded in part by the militants.

Only the winner of the primary campaigns will have their accounts credited to the budget allocated to the presidential campaign.

ALSO READ:

"Primary PS: nearly two and a half million voters

"The instructions of the Socialist primary

The association of tour operators Japanese in Paris also wrote to 24 local elected officials, recalling that a Japanese customer spends 80 euros at Mont-Saint-Michel, and a decrease in activity of 30% would represent a loss of 7 2 million euros per year for the rock …

ALSO READ:

"Chinese tourists will supplant the Japanese