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As announced in Le Figaro, the agreement on supplementary pensions signed last spring is unfavorable to executives who have raised several children, so much so that the CFE-CGC, the union executive has decided to attack the text justice.

The agreement signed in March after lengthy negotiations in effect alters the rules of pension bonus if families "many." From 1 January next year, the increase will be only 10% whatever the number of children cared for by the frame from three. The rule still in force today is much more favorable since the pensions of executives can be increased by 8% to 24% depending on the number of children.

Cap

Adjusted parallel, the amount of increase is now capped at 1,000 euros per year. Emmanuel Grimaud consulting firm optimization retirement Maxims, asked on Europe 1 this morning, made the calculation of the shortfall.For an executive who has had four children and affects 2700 euros monthly pension, the bonus is 2000 euros per year today. With the new rules, it does affect more than 800 euro mark, that is to say 1200 euros less each year. If we relate this loss to the number of years spent in retirement, 25 years on average, the loss of purchasing power reached 27,000 euros says the expert.

Emmanuel Grimaud said that once, future retired executives must make it their calculations, especially if born before July 1951.In some cases it may be more interesting for them to liquidate their retirement before the end of the year rather than waiting for the entry into force of the new text, and this even if they have not paid all quarters necessary for the full rate.

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It is the purpose and method to achieve this. Tuesday, meeting in camera the prefects of all departments, the Interior Minister, Claude Gueant, set the level to which must be reduced legal immigration in France. "We must collectively work towards halving the cards of employees," he said, adding that "the government's objective is to reduce over the coming year, the flow of legal immigration to 20,000 titles. The minister, in the wake, sent a circular to his prefects that Le Figaro was able to procure. Co-written with Xavier Bertrand, Minister of Labour, the paper on "immigration control work" provides a new interpretative framework for granting or denying a permit to reside outside its national territory under the status of worker.

"Given the impact on employment in one of the most severe economic crises in history," write the ministers must now focus on "a qualitative approach and selective." "Priority must be given to the employability of job seekers here today, whether French or foreign nationality residing legally in France, they take care to specify.

Vigilance

Follows a catalog of requirements for being awarded a work permit, draconian, especially if the applicant is not qualified. "These guidelines are intended in particular to protect migrants against all forms of exploitation," hasten to state ministers.

Thus, the systematic refusal to be the employer who will on behalf of an employee apply for work authorization when that employer will not show "the necessary guarantees to attract and accommodate" a foreign worker. Even negative outcome if the employer has failed once labor laws. The warden will also check the "real existence" of the corporate employer. It will be denied his requests for the least fault. Especially if it has not conducted a "search effective" in its "employment pool" before resorting to foreign labor news. "This research is mandatory," the ministers insist that invite prefects to be vigilant when a student asks to go abroad as professional status.Too many frauds have been identified for overqualified candidates relating to the job.

Tuesday, Claude Gueant assured before his prefects: "Our economy is not a vital need for labor migration in all areas." And he cited the example of the masons. He said "Last year, 730 foreign builders have entered the territory, yet he says, when employment center broadcasts 20 jobs from builders, there are 100 applicants who apply these in France. We can make the same argument for many other businesses, including sectors like IT. "Under these circumstances, the minister concluded" the common sense to give priority to job-seekers already present in France, whether French or foreign nationality.And justice recommends to ensure their working conditions and pay. "

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Let say, and especially nothing to show. The Economy Minister, Christine Lagarde, is gradually converge to European support for his name to be the candidate of the Old Continent to the IMF management. Germany has not said anything officially, but if Nicolas Sarkozy presents his economy minister, Berlin's support says it in Germany.

The French may also receive other support weight this afternoon: the head of state held talks with British Prime Minister, David Cameron, and it could send a positive signal by this evening.

The strategy of the Elysee has evolved over the last few hours. Paris does not want to appear as the maneuver on this issue, as the image of France has been tarnished by the DSK case. We simply observe and thus encourage sub hand movements favor Christine Lagarde.

Especially, the executive is awaiting the outcome of the preliminary inquiry about the case Tapie conducted by the Court of Justice of the Republic, which is expected to fall by 4 to 6 weeks. This fits perfectly well with the international agenda: the G8 meeting next week in Deauville, under French presidency could send a first signal for a European candidate, the EU summit on June 23 and 24 could be an opportunity for Europe to appoint their candidate. Christine Lagarde has five more weeks to wait before knowing his fate: Washington or the Court of Justice of the Republic?

In real estate, Paris is not France. So goes the refrain sung Thursday by the Higher Council of Notaries. In the capital, in fact, prices never stop rising. Last year, the increase was 17.5% and per square meter was worth, on average, 7330 euros in old housing. The boom continued in early 2011. "From December 2010 to February 2011, prices rose 5.2%, says Mr. Thierry Delesalle, president of the real estate commission of notaries in the Ile-de-France. In twelve month rolling period, from June 2010 to June 2011, we will not be far from the 20% increase. "Soon, the ceiling of 8,000 euros per square meter in Paris will be reached.

Relying on the promises of sales in the first quarter of 2011 signed, notaries believe the square meter in Paris will average 8,028 euros in June. This will rise to 15,500 euros in even the most expensive neighborhood in the capital, the Champs-Elysees.And this movement does not seem ready to break if we are to judge by the large number of transactions: first quarter in Ile-de-France, they rose 16%.

Click on the thumbnail to enlarge the graphic.

Fewer foreigners in Paris

Contrary to popular belief, foreigners are not responsible for the rampant price increases because they are less active than before the Paris market: last year, they accounted for 6.5% of buyers against 7.6% in 2009. The result? "We should see the price differences widen between areas traditionally preferred properties such as Paris and those economically disadvantaged in which a decrease has already been committed," said Pierre Bazaille, president of the Institute for Notarial real estate guaranteed online payday loans. In fact, in the province, the changes are more chaotic.Overall, prices have also increased but less dramatically than in Paris. They set up in 2010 by 4.7% for older apartments and 10% for houses. But since early this year, the situation is contrasted by areas or cities.

In Lille, for example, home prices fell 6% to 170,000 euros on average in Bordeaux, one of the apartments has decreased by 1%. Less than 3% also for apartments in Rennes, where the square meter is now worth 2212 euros. On the other hand, for apartments, in Brest, the price per square foot rose by 7% to 1527 euros per square meter. The increase is more limited but very real (+3%) in Lyon, where the square meter is 3102 euros.

Difficult, with that, whether property prices will rise or decline this year in France. According to Mr. Pierre Bazaille, the trend towards a higher but moderate (between 0 and 3%).A development that will depend on exogenous factors such as rising interest rates on mortgages or advertisements referring to the SP in its program the rent freeze.

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Faced with rising rents in France, it becomes difficult for the student accommodation. AFEV (Association of the student foundation for the city), an association of student volunteers who fight against inequalities in income neighborhoods, has been working on this issue. It launched a program that offers student groups, in return for a roommate in very affordable prices, to participate in a common social vision. This program is called KAPS "Koloc A. Projects in solidarity"

In September 2010, the mayor of Toulouse has made available ten students four T3/T4 type apartments, provided they spend a few hours a week in entertainment cultural workshops, or coaching youth in difficulty .Students share the old staff accommodation which the city owns and rents paid monthly CROUS (Regional Centre for University and School) amounted to 272.42 euros (141 to 182 euros after deduction of aid housing). The project is supported by the bank BNP Paribas participant KAPS at € 150,000 and shall be directly liable, allowing students to access at no additional cost to collocations.

Roommate: a method that works

"Although Toulouse was one of the cheapest cities in France, the housing market begins to be saturated," said Stephanie Arnold of the town hall of the "pink city". "An increasing number of students is therefore preferred to collocation. This allows them to make more new friends. "The analysis of the motivations of students, which was conducted among volunteers AFEV shows "both a strong desire to participate in an action 'good' socially and a desire to learn for themselves," says the press release KAPS project.

Furthermore Toulouse, Poitiers and Paris have also tried. Through a partnership with the Foundation AFEV Poitiers University and the social landlord Logiparc, 12 students occupied T4 4 apartments in two districts of Poitiers for a rent amounting to 285 euros each (housing not deducted) same day payday loans. In Paris, five students, including volunteers AFEV are housed in a residence of the Studentenwerk, including three singles and two in collcation in an apartment.In exchange for a rent of 350 to 380 euros per month, they are five hours per week involved in projects in the area of ​​the roundabout of the Chapel, where there is a high concentration of social housing.

Convincing results

In the capital, the city less affordable for students, AFEV, the Studentenwerk and SIEMP (Society of the mixed economy of the city of Paris) work to the lineup from 40 to 50 units dedicated to the roommate. "But we are still awaiting the response of social landlords. Nothing is certain at this stage with regard to these apartments. But we know that CROUS participate in KAPS next year through the apartments and rooms available to students, "Tiffany relativizes Koechlin, territorial delegate AFEV Paris.Laurie Hay, in charge of local development association AFEV Poitiers, gives more otpimistes figures: the number of units for the project KAPS in this city will double the autumn of 2011.

The Toulouse experience so far remains a single case in France, because it is housing, which owns the Town Hall. This facilitates all administrative procedures for obtaining housing and avoid going through intermediary structures. Other cities such as Bordeaux and Perpignan have already started looking for apartments in vacant city in order to transform it into the collocation projects KAPS, according to the association.

At the opening of U.S. stock markets, the Dow Jones advance of 0.73% at 11,947 points, the Standard & Poor's 500 and Nasdaq 100 rise respectively from 1.09% to 1293 points and 1.29% to 2678 points. A new session is so bullish on. Already on Friday, U.S. markets had ended the week up, encouraged by a cease-fire announced while in Libya, easing social measures taken by Saudi Arabia, by King Abdullah, but also by the intervention fighting the Japanese authorities in Fukushima.

On Monday, despite the military intervention in Libya, the relative stability of oil and the rather encouraging information from Japan, where the authorities seem to regain control of the plant in Fukushima, tend to support the rebound.A general rebound in markets, on both sides of the Atlantic, jusqu'enAsie, except in Tokyo, where the stock exchange was closed on Monday due to holiday.

Side of macroeconomic indicators, this week will be placed under the sign of U.S. housing, with, today, sales of existing homes, expected to 15 hours. "Sales are expected to remain weak in February, analysts said Aurel BGC. The construction sector remains a concern for the Fed. "

If durable goods orders (Thursday) "should enjoy a rebound in orders for machine tools and aviation. In contrast, consumer confidence could be affected by recent events, including the nuclear risk to Japan, which occupied a prominent place in the American media these days, "said Will we at Aurel BGC.

AT & T and AIG in focus.GM, Caterpillar and Apple penalized by Japan.

On the corporate side, the U.S. Treasury Department announced Monday it would begin this month to bring to market its portfolio of securitized mortgages guaranteed by Fannie Mae and Freddie Mac, valued at $ 142 billion.

On Friday, the Federal Reserve has conducted a new set of stress tests on the 19 largest U.S. banks. If the results of these tests have not been disclosed, they, however, already possible to allow some of these institutions to distribute or raise their dividends.Like Wells Fargo, JPMorgan, Citigroup and this Monday (2.44% to 4.61 dollars).

the telephone company AT & T (1.03% to 26.48 dollars) will buy its German rival Deutsche Telekom's U.S. mobile phone subsidiary T-Mobile USA for about $ 39 billion (25 billion in cash). A strategic transaction that will create the first U.S. mobile operator Verizon before. Deutsche Telekom, meanwhile, will benefit to pay off debt.Part of the proceeds will also be devoted to buybacks, "said Franklin Pichard, director of Barclays stock.

AIG (American International Group: 2.32% to 35.76 U.S. dollars) expected that banks submit bids on mortgage-backed securities that it proposes to redeem the U.S. state of 15.7 billion, the Wall Street Journal, citing the insurer's CEO Robert Benmosche.

Eli Lilly (+0.44% to 34.63 dollars), faced with sales at half mast because of competition and the expiration of certain patents, will not merge with another pharmaceutical company to get through this bad patch has said Saturday its chief executive John Lechleitr.

Broadcom (0.45% to 39.85 dollars) for its part in the day announcing the purchase of specialist Israeli bullets Provigent 300 to $ 400 million, understands the financial site TheMarker. This would be the eighth acquisition of semiconductor firm in Israel, adds the site.

General Electric (2.39% to 19.71 dollars) has also defended on Friday its type reactor Mark 1, designed 40 years ago and that the Japanese central team of Fukushima. It equips five of six units of the Japanese central, where the cooling system was damaged by the earthquake and subsequent tsunami on 11 March.

Other companies could become victims of the events in Japan. General Motors (1.38% to 32.29 dollars) will close its plant Louisiane.Apple (2.04% to 337.41 dollars) fear of stockouts on its iPad 2, launched this week in France.Caterpillar could also be a victim of difficulties in its Japanese factories.

Finally, Google (1.98% to 572.19 dollars) aroused the attention Monday. For at least two reasons: in France, Google has fined 100,000 euros, accused of having "hijacked" the French personal data via wi-fi. The world's leading search engines also believes that the Chinese government is currently blocking access to Gmail, many users had complained, China, dysfunction.

Nigeria, Kuwait and the UAE will increase their oil production by April to offset higher prices, with additional 300,000 barrels per day, according to the Financial Times. Amid civil war in Libya, which translates into a fall of 60% of daily oil production in the country, oil companies and U.S. banks have ceased all activities in the country of Gaddafi. The Wall Street Journal revealed that Morgan Stanley, which bought oil for his customers, has severed all business ties with Libya. ConocoPhilipps longer exports a drop of 46,000 barrels it produced each day in the country, along with Exxon Mobil and BP.

Meanwhile, speculation on oil markets in full swing. Traders expect a continuation of the surge in the number of Paris to the increase reaches a level never reached.The record price for summer 2008 – when WTI traded at $ 145 – could be beaten faxless cash advances. For now, the WTI is trading at more than $ 105 a barrel after rising nearly 14% since the beginning of the year. As for Brent, it is trading at nearly $ 115 after a dramatic 25% since January.

Already at the pump, gasoline prices beat their record highs. A liter of unleaded 95 has sold 1.506 Euro per liter, exceeding its record of 1.497 euro reached in June 2008, according to records released yesterday by the Directorate General for Energy and Climate (DGEC). As for diesel, the fuel most consumed in France, its price rose to 1.351 euro per liter, the highest since August 2008.

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Asian stock markets continued their slow descent into hell. Third day of the week, third session in the red for almost all Asian financial centers, much still shaken by the political crisis in Libya. Suddenly, Wall Street closed sharply lower Tuesday, the Dow Jones dropping 1.44% to 12,213 points.

The atmosphere is also not great on Wednesday on Asian stock markets. The Nikkei 225 Index was down 0.81% to 10,578.50 points and 2.6% since the beginning of the week. Note that Japan's trade deficit has ballooned in January, reaching 471.4 billion yen (4.17 billion euros), due to significant oil imports, while exports have stagnated.

In addition, the yen continues to appreciate against the dollar, a dollar quoting yen 82.59 (-0.22%).As a result, values exporters like Toyota are battered stock market, the Japanese automaker fell 1.2% from 0.5% and Canon.

Only Shanghai and Mumbai are progressing

In China, financial markets were mixed after a report released Tuesday by the U.S. central bank has concluded that the Chinese currency, the yuan might well be overvalued against the dollar. And contrary to what it believes the Obama administration. The CSI 300 Index gained 0.19% in Shanghai to 3169.58 points (-2.55% since the beginning of the week).In contrast, the Hang Seng Index in Hong Kong lost 0.43% to 22,891.30 points (-2.53% from Monday).

The trend is clearly negative on other financial markets: the Taiwan TAIEX index dropped 1.67% in Taiwan to 8528.94 points, the KRX 100 Index Seoul yields 0.43% to 4182.40 points, the S & P / ASX 200 Sydney Index was down 0.22% at 4845.90 points and the FTSE Singapore Straits Times Index fell by 0.35% to 3008.62 points. In contrast, the BSE Sensex 30 Index of Bombay captured a slight increase from 0.18% to 18,328.40 points.

Crude prices continued to rise Wednesday morning markets in Asia, supported by the thrust of violence in the Arab world and particularly in Libya, a major producer of black gold, analysts said. In morning trading, a barrel of light sweet crude for April delivery gained 4 cents to 95.46 dollars.That of Brent North Sea crude for April delivery has appreciated by 22 cents to $ 106.

Hesitation waltz at the Paris Bourse. After opening slightly higher, the CAC 40 decreased again. Halfway through, the Paris index lost 0.21% to 4143.78 points. While the G20 opens, investors try to digest another round of corporate earnings continues in Paris.

Lack of energy also on other major European markets, the Stock Exchange of London, the FTSE-100 dropped 0.58% to 6051.90 points. Exchange and the Frankfurt the Dax lost 0.19% to 7391.49 points.

The industrial morale slightly lower

On the macroeconomic front, industrial morale dipped slightly in February, down two points from the previous month, with 106 points, Insee said Friday.It remains above its long-term average (100 points).

The business climate in manufacturing industry in France worsened slightly, according to the monthly business survey released Friday by INSEE.

Once is not custom, no economic statistics are expected in the United States. However, the president of the Central Bank, Ben Bernanke, will participate in the G20 ministerial held in Paris, which will be attended by Finance Ministers and Central Bank Governors of the twenty richest countries in the world. Bernanke will talk about "global imbalances and financial stability" (14 hours).

On the currency markets, the euro lost it again a little ground against the dollar on Friday.About 11:00 am in Paris, the euro bought 1.3554 dollars against 1.3605 dollars on Thursday night.

Results and well made for Lafarge Bull

Lafarge: + 4.14% to 47.90 euros – the largest increase CAC 40

Lafarge said Friday anticipate a rebound between 3% and 6% (-1% cons + 3% expected in 2010) of cement demand in 2011 after a strong fiscal 2010 results by globally online.The world's leading cement has published results in line with expectations.

Bull: + 8.59% to 3.83 euros, the biggest increase SBF 120

Bull this morning unveiled a net profit of EUR 6.5 million in 2010, a profit quadrupled from a year earlier, when it reached 1.4 million euros payday loan companies.

Bouygues: + 0.21% to 33.57 euros

A consortium led by Bouygues has been chosen by the State to build the future "at the Pentagon French" on the site Balard, in south-west of Paris, as Le Figaro said Thursday.Information confirmed by the MoD in a statement.

The consortium led by Bouygues includes Thales (-0.1% to 27.39 euros) for computing, Sodexo (1.15% to 50.57 euros) for services, Dalkia Energy and FIDEPPP – bringing together the Savings and Natixis (-1.04% to 4.09 euros) – and SEIEF as financial investors.

Eutelsat: -1.71% to 28.40 euros

Eutelsat has released interim results that put it on track to exceed its targets for 2010-2011.

Societe Generale: + 0.04% to 52.06 euros, BNP Paribas: -1.36% to 57.97 euros

The Government of Côte d'Ivoire has declared Thursday the nationalization of local subsidiary of Societe Generale and BNP Paribas have suspended their activities, including the two French institutions.

France Telecom: + 1.02% to 16.35 euros

Orange filed a complaint against Bouygues Telecom before the Commercial Court of Paris, following the January 1 bug that caused an increase in involuntary SMS.Orange seeking millions of euros in damages.

Nearly eight million shares traded Archos, the title takes off

Peugeot: -0.69% to 29.57 euros

Workers and employees of Peugeot should be increased by 1.7% with a minimum of 34 euros, from 1 March.

Air France-KLM: -0.16% to 12.43 euros

According to the report of the court in Bobigny, including Le Figaro has obtained a copy, the Central Works Council of Air France needs of 20.5 million to continue its activity in 2011 and avoid defaulting .

Archos: + 3.76% to 8 euros

Archos, which will release its quarterly and annual results after market close on February 22, jumped over 34% to 7.71 euros on Thursday on the financial markets. Nearly eight million shares, or approximately one third of the capital of Apple competitor on the shelves, were exchanged.

U.S. stock markets open on Wednesday in a disorganized. The Dow Jones gained 0.03% and the Nasdaq was down 0.14%. Tuesday after three days of interruption to the "Martin Luther King Day, Wall Street still closed in the green, after some hesitation morning.

On the foreign exchange market, the euro was still up in the morning against the dollar, even briefly climbing above $ 1.35, against a dollar weakened by renewed concerns about the strength of economic recovery U.S. real estate before an important indicator.About 11 hours in Paris, the euro bought 1.3456 dollars against 1.3389 dollars late Tuesday.

Property: less Starts

On the macroeconomic front, the housing starts in the U.S. rebounded by 6.1% in 2010, following a relapse of 4.3% in December, and building permits rose 2 , 6% for the year despite a 16.7% jump in December, according to official figures released Wednesday.

The U.S. housing sector has been one of the most severely affected by the crisis and investors scrutinize with utmost vigilance on each new indicator of market conditions as an index on the strength of the recovery of the world's largest economy.

Also note, the rating agency Standard and Poor's warned yesterday that the debt rating of the United States "will be put under pressure" if the government does not soon a "credible plan" to reduce its budget deficit.

Very good results from IBM and Apple

The side of values, the United States, the strong performance of IBM and Apple were reassured. The computer giant IBM announced Tuesday it posted a net profit up 10.5% year on year last year to 14.8 billion dollars with an equivalent growth in the last quarter, exceeding forecasts analysts.The group's turnover increased by 6.6% to $ 29 billion over the quarter and 4.3% over the year to 99.9 billion.

For its part, the computer group Apple, which has alarmed investors with the absence of his new boss, should snatch them with the release after the close of Wall Street by record results in the first quarter of fiscal offset, with a leap of 78% of its net profit to $ 6 billion cash advance payday loan. Based on the number of shares, earnings for the quarter amounts to $ 6.43, while analysts were still waiting for 5.38.The turnover for its part has also reached a record level of $ 26.7 billion (+71%), well beyond the expected 24.38 billion dollars.

For his part, Western Digital, the second largest manufacturer of disc drives, Seagate last, announced a profit of $ 225 million or 96 cents per share ($ 1.85 against the same period in 2009), down 48% over one year. Analysts' expectations were only 58 cents. Turnover was 2.48 billion dollars, down from $ 2.62 billion in the fourth quarter of 2009 but still well above expectations of analysts on average expected 2.35 billion dollars.

Always on the side of values, insurer American International Group (AIG) has selected banks Bank of America, Deutsche Bank, Goldman Sachs and JPMorgan Chase to complete the withdrawal of the U.S. state of his capital, it was learned Tuesday sources familiar with the matter. Last Thursday, AIG and the U.S. government invited to New York with representatives of the ten largest banking groups worldwide so as to retain the best facilities to complete the transaction.

Also note, the Japanese airline All Nippon Airways (ANA), which will be the first to use the new device 787 Dreamliner Boeing, demanded Wednesday that the U.S. aircraft manufacturer guarantees that the new delivery deadlines are respected.The Japanese firm has hailed as a "step forward", the return to flight test the aircraft, suspended for two months after a fire occurred during a test in November in a cab 787.

On Wall Street investors expect another round of results. Indeed, after Apple, IBM, Citigroup and Western Digital yesterday, eBay, Bank of New York, Goldman Sachs, State Street and Wells Fargo have announced their numbers today. AMD, Rockwell Collins will continue the ball Thursday and General Electric and Schlumberger Friday.