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Millions of French in nature, detached from any commitment to their operators. This is the nightmare that stirred the telecom sector, used to recruit customers on long-term contracts: at the beginning of the year, over 80% of customers to a mobile phone package were still committed to the most More than a year. But with price changes that lie ahead for the new pass the VAT hike, subscribers whose bill will evolve will have the right to request termination of their free package, even if they are still engaged.

In practice, the situation is not so bad that for Internet and mobile operators, which are not totally unprepared. They added in their contracts, some as early as mid-November, a clause warning the next price increase.Several operators contacted by Lefigaro.fr argue that these lines are enough to keep all customers who have committed or recommitted during this period. So do not expect to buy a subsidized iPhone for 149 euros with a subscription for 24 months instead of 739 EUR without subscription and can cancel your plan in the wake at no charge.

A favorable schedule

To leave some margin, the telecom operators also benefit from a clever timing effect. Theoretically, they should have prevented customers from late November, a month before the entry into force of the VAT hike on January 1, decreed by the government. But they delayed the increase in their packages a month (and up to three months for Bouygues Telecom) and have started sending mails in the last days of December."We had to work hard, more than 30,000 prices have moved," said a spokesman for SFR.

This slight shift requires operators to handle the difference between the price paid by customers and they must refund taxes to the State in January. But he also benefits. December is indeed the month of the year when recruitment is strongest, thanks to Christmas shopping. However, customers who have subscribed or subscribed again in recent weeks have agreed to plans that will increase as the others, but can not be terminated. "Operators do not want to tarnish their image a little by announcing a price increase in this period," Edward J. Barreiro, director of studies at the UFC-Que Choisir.

To limit cancellations, traders have also used other maps.Unlike Telstra, Vodafone has chosen to only increase its prices on a third of its old rates, which represents for him a load of 50 million euros but blocks the possibility of termination for a majority of its subscriber base . The customer service is also currently showing a very generous incentive for subscribers to re-engage in two years, with significant discounts. The site reports on his side Numerama testimonials from customers of Orange who have difficulty in terminating their line while transferring their number to a competitor.

The risk of a windfall

Unlike the scenario envisaged by the Government, the telecoms sector did not engaged in a price war that would have been financially disastrous and would have encouraged him to change operator.In ADSL, all subscriptions will increase, including to Free, who preferred to break his pattern of "triple play" to 29.99 euros per month rather than taking only the VAT hike. In mobile, the most popular package for Orange and SFR, those on smartphones, will be impacted. Those of Bouygues Telecom to follow.

Ultimately, consumer groups fear that eventually the VAT hike turns into windfall, to get further increases. The prices of packages that should not be affected by the VAT hike (those not including television) will soon be weighed down for no apparent reason. Numericable and took advantage of this favorable period to tell its customers an increase in its rates an average of 3 euros, unrelated to VAT."Everyone wants to increase its rates, particularly to finance the optical fiber, a spokesman justified.

"The government must make sure that this measure does not allow slippage of prices or additional puncture on consumers unjustified", responded in a statement Wednesday the UFC-Que Choisir, who wants "a point on the deals that can legitimately be subject to a price increase. " In a letter, the Minister of the Digital Economy, Eric Besson, has asked for a few hours later providers of internet access information on how they intend to pass on the VAT hike their rates.

"Putting the power company …" The direction of the station now grows a term formerly claimed by a management offensive as Valeo at the time chaired the Christmas Goutard automotive supplier.

Wednesday, during its monthly board of directors, the "power" of the railway company was primarily an opportunity to recall the debt at 7.2 billion euros in 2009 and close to 10 billion in 2010 leaves little leeway in its leaders.

For employee representatives, plans to reduce costs envisaged will weaken the company and increase quality of service degraded.A unanimous position of the various unions that have signed on Tuesday a statement they regret a "financial strategy" unacceptable in their eyes "a national public service."

Yet the 2011 budget to the station is in line with previous years. The business plan submitted in July 2010 foresees a reduction in costs of 4 billion euros by 2015, including 500 million euros for the single year 2011.Now the company will face this year to 3.2 billion euros of investments including 2.6 billion on capital in particular to take delivery of its Ile Bombardier and Alstom's TGV Duplex ordered in 2006 and 2007.

1850 posts in less

To stop the progression of its debt, the company should reduce the negative situation of its cash available – 70 million euros in 2011 against – 500 million in 2010. The turnover of the SNCF in 2011 should rise 33.6 billion euros against 30 billion in 2010.

On the employment front, as Guillaume Pepy had mentioned early December, 6350 departures are planned for 2011 while 4500 recruits will be held in parallel, which is equivalent to removing 1,850 positions.Earlier this month, the president of the SNCF said that while overall enrollment shrank in the parent company (employing 155 000 persons), it was thanks to productivity efforts. There is "zero redundancy 'and' zero early retirement" in his words.

A round table on employment must meet in January the company management and unions. It must in particular address the downsizing affecting the freight industry: it has lost 30% of its workforce in four years.

Freebox Revolution continues to make waves. But in the culture industry, this time. Concerned, the refusal of the operator to perform now the tax on private copying, which the "boxes" are normally subject. "Free to pay. Otherwise it will end in court, threatened on Wednesday morning in Les Echos, the director of the Civil Society of Phonographic Producers (SCPP), Marc Guez.

The private copying levy is a system of financing income (182 million euros in 2009) are paid to the areas of music and audiovisual sectors, hit by downloading pirate. It was first applied to blank CDs, and was extended to a wide variety of products which can be copied legal works, such as iPods, USB sticks, and recently the shelves. The "box" operators, equipped with a hard drive, did not escape.Including previous Freebox.

With its impressive 250 GB hard drive, the newest member of the Free should have been taxed at 35 euros, more than 10% of the cost of its production cost, estimated at 300 euros. But according to the operator, the Freebox Revolution is not a "box" like the others. Its hard drive is a standalone file server, a NAS. However, such material is exempt from tax, when certified to "work together with at least three operating systems (see pdf).

"We respect the texts"

This exception was introduced in October, was intended to tax only the NAS models purchased by individuals, simpler, saving professionals low fee cash advance. But Free has had time to adapt to these new rules. According to the operator, the Freebox works well with at least three operating systems, and should not be taxed."We continue of course to respect the statutes governing private copying," says Maxime Lombardini at Les Echos, CEO of Iliad, the parent of Free.

For Free, the economy would be $ 17.5 million for 500,000 Freebox Revolution. Its competitors, who have not integrated file server in their "box", can not imitate him. They had to use cunning. To limit the size of the tax, SFR voluntarily restrained the hard drive of his new Neufbox Evolution. Of the 200 GB theoretically available, only 40 GB are available by default. If they want more storage capacity, customers must pay 15 euros in increments of 80 GB

The preferential treatment of the Freebox Revolution could not however have a limited time. The basis of the fee for private copying is regularly adjusted to match the new practices.Meanwhile, Free has cultivated his image as a troublemaker of the Internet. As he did in refusing to send the first warning messages Hadopi, while also stating at the time that he respected the law.

This is the new darling of the markets. The yuan tore the world. After launching, during last summer, a program to allow Chinese companies to export and import yuan, Beijing has also allowed foreign banks to invest in its bond market in late 2009 showed a poor record: only $ 527 million of trade were denominated in local currency at the end of six months.

But since the appeal of the yuan, which remains under the tight control the government, has skyrocketed. In the first half, the volume of Chinese foreign trade conducted in that currency reached $ 10.3 billion. Every day, 400 million yuan traded in the 4000 billion dollars of daily transactions recorded in the world.In 2015, trade in that currency could reach 3000 billion per year, according to the China Construction Bank.

"It's a major change in the landscape of international finance," predicts Norman Chan, head of the Central Bank of Hong Kong. McDonald's and Caterpillar were the first foreign non-financial firms to issue yuan-denominated bonds, according to Standard Chartered marking "the beginning of a new source of funding for international groups that want to raise capital for their operations in China."

Pay for raw materials

Wednesday morning, the yuan will be for the first time in its history, exchangeable on the foreign exchange market in Moscow. A just reward because the ruble had been in the Chinese market in late November. The operation is not innocent.China, seeking raw materials around the world, will be able to pay its own currency at the same time it provide Russia with goods and services invoiced in yuan. Beijing and look forward to repeat the experience in Africa, Latin America and in all countries rich in oil and gas.

Progressively internationalizing its currency, the Chinese boost trade with countries that interest them most and try to attract investors to their bond market. According to some analysts, between 20% and 30% of their imports (130.4 billion in November) could be made in yuan in the coming years.

But Russian President Dmitry Medvedev no mistake, this is also a way to "balance the weight of the dollar and euro.The second largest economy behind the United States is "not yet in place on the foreign exchange market," a court of Hong Kong banker. She wants to influence the reform of the monetary system that is prepared in the G20 and must leave, according to the president, Nicolas Sarkozy, a role "prominent but not exclusive" to the greenback.

Meanwhile, the yuan's limited convertibility allows Beijing to test the waters of its neighbors without challenging its control of economic development.

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PPR continues to refocus on its poles and luxury "sport and lifestyle. After the sale, announced Thursday, the Conforama South African Steinhoff for 1.6 billion euros, the luxury group is preparing for new acquisitions. Market rumors circulated Thursday on a possible takeover of the group of sports equipment and recreational Quicksilver, or group of Australian "surfwear" Billabong.

In response to these rumors, the action of Quicksilver in the day jumped 22%. The group declined to comment on the rumor. The company has a market capitalization of 2 no fax cash loans.52 billion. Due to uncertainties on these acquisitions, the action ended, however, PPR on Thursday down 1.65% to 124.80 euros while the CAC 40 0.68% garnering.

The assignment is for PPR Conforama another step out of the distribution sector, including Francois-Henri Pinault, who took the reins of the group in 2005, wishes to withdraw. After this sale at high prices, which follows that of Spring in 2006, Puma in 2007 and YSL Beaute in 2008, the luxury group will soon be separated from Fnac and Redcats.

AIA was lifted last October in the Stock Exchange of Hong Kong about 20.51 billion dollars, after exercising its over-allotment option, making the Asian fialiale U.S. insurer AIG the biggest IPO in Hong Kong .

Three weeks later, General Motors announced that its IPO, expected Thursday, will be the largest in U quick cash advances.S. history. The American manufacturer will offer to sell 478 million shares (against 365 million previously proposed at a price between 26 and 29 dollars), at a price between 32 and 33 euros. Totaling $ 15.7 billion. If we add the four billion dollars in preferred shares that GM also plans to offer and the issuance of additional shares (over-allotment option), the supply could be increased to $ 22.4 billion.

That GM would do better than Visa in 2008, had raised $ 19 american cash advance.7 billion, including over-allotment option. "Raising prices is a sign of a vote of confidence in the company and the action they propose," said Michelle Krebs, an analyst Edmunds.Com.

The wind of optimism blowing through the world of air benefits EADS. The pan-European group unveiled the results of good quality, supported by Airbus, in a rebound in commercial aviation.

Strong quarterly results exceeded expectations, EADS raised its forecast of results and orders. The European aerospace and defense now expects adjusted operating profit of at least 1.1 billion euros in 2010 where he was about one billion euros previously. He also expects that its annual revenues exceed its previous target of 44 billion euros, also on the basis of one euro to 1.35 dollar.

Airbus has also raised its forecast for gross orders in 2010 and is 500 units against 400 expected in late July and 300-400 at the beginning of the year.The manufacturer also has slightly exceeded its target of 500 aircraft delivered this year against 498 in 2009.

Results above expectations

In the third quarter, EADS has returned to profitability and has a net profit of 13 million euros against a loss of 87 million euros last year. Operating profit (EBIT) increased it by 88% to 378 million euros. As for turnover, it shows up 18% to 11.25 billion over the period. Figures above analysts' expectations. EADS said its performance by non-recurring favorable items at Airbus and Airbus Military and Commercial improving results Cassidian.

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1500 in Rodez, 1000 in Saint-Quentin, 900 Valencia, 800 Auch, 700 Verdun, 600 in Carcassonne or Besançon, 500 Caen, Perigueux, Calais or Beziers, 300 in Angouleme, Lisieux or St. Omer, 250 Toulouse, 150 in Mulhouse. Events also at Charleville-Mezieres, Cherbourg, Boulogne-sur-Mer, Valencia, Tarbes, Limoges, Sarlat, Alley, Nevers or private … In the provinces, the students decided to enter the circle against the pension reform. More or less important depending on cities and regions, the parades have proliferated on Thursday and Friday, answering the call of high school or political organizations, or sometimes more spontaneous shots to SMS, Facebook and blogs.

For now, the Ministry of Education ensures that such events remain marginal. "Only 81 high schools, which is 1.88% of schools are affected by disturbances" on Do we rue de Grenelle.Conversely, the UNL, the first organization in high school, claims to have counted 15,000 young people mobilized Thursday and identified 150 blocks of businesses. "The mobilization schoolgirl took a real turning point this week," Victor trusts Colombani, new president of the UNL.

'Totally irresponsible'

Friday morning, the social adviser of Nicolas Sarkozy, Raymond Soubie, responded by ruling "totally irresponsible" that some organizations invite students to demonstrate. "What should we think of events in which employees are legitimately concerned about the very problem they retire, and young boys and girls aged 15 who showed because they are worried about what will happen in 2050 or 2060? "he asked on RTL.In a statement, the Minister of National Education, Luc Chatel, also denounced the "irresponsibility of all those that put students at risk by calling them to participate in actions that could escalate."

"This is our future, replied Victor Colombani. How to understand the fact that we are asking employees to work longer, while tens of thousands of young people are unemployed, and the average age of entry into the labor market is now 27 years old? " Contacted by lefigaro fast cash without a hassle.fr Christiane Allain, president of the CIPF (first federation of parents, ranked from left), said "support" the students who wish to protest against pension reform, "as it is done responsible manner. " "Once the students are organizing protests, they say they are influenced and manipulated.We must stop with this: the vast majority of these students are young leaders. Let them learn democracy! "

First overflows

Excesses, however, did not take long to occur in several cities. At Bonneville, Haute-Savoie, two schoolgirls were burned in the face Friday, including one seriously, in the ignition of a barrel filled with flammable material, most likely "led to the smoke," according to several witnesses. At Saint-Quentin in the Aisne, three plainclothes policemen were injured Friday morning. One of them was beaten, while a fight between young protesters broke into the city center. The day before, the first event had degenerated, the police have had to use tear gas to respond to throwing projectiles.

In Angouleme, two young adults age 18 and a minor under 16 years were arrested Friday morning after a thirty young people were forcibly entered a school in the city, committing damage in the school cafeteria and damaging a vehicle outside the institution. The three youths arrested should be prosecuted for the crime of trespassing, disturbing public order and damage.

Meanwhile, united in a collective "youth retreats, youth organizations close to the Socialist Party (UNL, UNEF, JS and LMDE) already contemplating a new national day of action next Thursday, and more days of 12 and 16 October already planned by labor unions.

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The CAC 40 hard to start the week. The benchmark index in Paris, which began the meeting at equilibrium (-0.08%) stalled shortly after opening. And despite his attempt to regain balance, the opening of Wall Street has again dropped the CAC 40. At the finish, the index was down 1.15% at 3649.81 points – or below 3650 points – and can not turn the page of a red week that it lost more than 2% in five days. In Tokyo, the Nikkei also closed lower.

In London, the FTSE dropped 0.66% to 5555.97 points.

Markets are waiting game before the release of U.S. employment figures on Friday and before the start of the earnings season across the Atlantic, which opens Thursday with Alcoa.

Statistics mixed

Meanwhile Monday, the producer prices in the euro area rose slightly in August (+0.1%), in accordance with expectations, the decline in energy prices have moderated their monthly growth.

On the macroeconomic front, orders received by U.S. factories fell in August (-0.5% to 408.9 billion dollars), hit by the plunge in orders for transportation sector, according to the Commerce Department, after up 0.5% in July and a 0.6% decline in June.

However, the promise of selling real estate in the former increased more than expected in August to their highest level in four months by the Federation of Realtors NAR. The index of sales commitments of the National Association of Realtors has increased 4.3% from July to 82.3. This is his second consecutive increase.

The euro gained ground against the yen before slowing its rise. The Central Bank of Japan meets on Monday and Tuesday's monetary policy committee to decide what actions to take to lower the national currency. The euro also slows its rise against the dollar in trading at 1.3701 dollars (-0.73%).

The bank saddled rating

These are essentially transferable auto and banking who shot down the ACC. The former are subject to profit taking after experiencing good session on the eve of the opening of the Paris Motor Show. Peugeot (-3.69% to 23.9 euros) and Renault (-3.53% to 35.54 euros) are the largest declines in the index. Note that the number of car registrations in Germany fell in September to a pace much weaker than in August (-17.2%) by the referring professional VDIK.

The bank also experiencing a difficult start of the week.Societe Generale (-1.33% to 40.85 euros) carries with it Crédit Agricole (-1.08% to 11.40 euros) and BNP Paribas (-1.05% to 51.02 euros). This sector is troubled by a note from Morgan Stanley, which degrades its recommendation on Credit Suisse because of the recommendations of Basel III.

Investors are also reacting to the measures of the Committee of Experts established by the Swiss Federal Council that go beyond the threshold recommended by Basel III guaranteed approval cash advance loans. Credit Suisse and UBS and will carry their own funds to 19% of weighted risk. A minimum ratio of 10% should be established as common equity or equity base of high quality, capital and reserves, while Basel III sets the minimum intake to 7%.The Committee also recommends limiting the debt ratio based on a leverage ratio at 5% of equity.

Up, only include Michelin, Natixis, LVMH, EADS and Publicis, earning between 0.3% and 1.5%. For LVMH, HSBC raised its price target from 116 to 125 euros while maintaining its recommendation to "overweight." EADS profits from the decline of the euro.

Alstom removes 4000 posts worldwide

Alstom wants to eliminate 4,000 jobs by 2012. This represents just over 4% of the global group and 8% of its activity manufacturing turbines and power plants. One hundred jobs will be affected in France.

In exchange, the shares fell 1.78% to 36.45 euros after it had regained almost all lost points during the meeting when the announcement of the plan capital.

Sanofi-Aventis sanctioned

Sanofi-Aventis under the spotlight Monday.The pharmaceutical group has launched a hostile takeover of Genzyme to $ 69 per share. The offer is the same as start, despite rumors of rehabilitation conveyed by the press. The management refused to discuss U.S. is behind the launch of this operation, adopted unanimously by the Board of Directors of Sanofi-Aventis. At the Paris Bourse, however, the news is far from unanimous: the securities were down 0.58% to 48.01 euros.

Values related to the oil sector react little to the strike call issued until Sunday at French ports by the CGT.Iraq also announced Monday that its proven oil reserves were 143.1 billion barrels, placing the country third in the world behind Saudi Arabia and Venezuela, according to estimates by the Organization of Petroleum Exporting petroleum (OPEC).

Meanwhile, oil recedes and it penalizes the sector. Technip (-0.9% to 59.86 euros), CGG Veritas (-0.96% to 16.47 euros), Vallourec (-1.12% to 72.33 euros) or Bourbon (-0.7 % to 30.40 euros) fell slightly.

Total giant folds of 1.43% to 37.53 euros.The group also paid the Italian refiner Erg 101 million euros to set up their joint venture refinery and petroleum distribution in Italy, said Erg Friday.

EDF (-0.29% to 31.31 euros) could sell its stake in the U.S. group Constellation Energy Group.

Rhodia (2.46% to 17.9 euros) would increase its operating profit in excess of 1 billion euros, excluding proceeds from sale of carbon credits, by 2013-2015, which reflect a progression EBITDA in the range of 40% over this year.

For this last day of the week, Asian markets have decided to follow separate paths. Cettte dispersion follows the decline on Wall Street Thursday. U.S. markets experienced another volatile session that led to closing down 0.44%. Macroeconomic announcements, including the decline in the number of registered unemployment and GDP in the second quarter revised upward across the Atlantic, have not reassured. Markets have struggled to collect the announcement of a rating is downgraded from Spain by Moody's. This morning, Asian markets turn to digest the news.

Furthermore, caution must still be as important indicators published in the United States.Include expected income and expenditure survey and construction spending in August, the index of consumer sentiment and manufacturing ISM September.

Deflation continues in Japan

In Japan, investors are excited. The Nikkei started the session on a rise of 0.76% Advent to slow its progression. One hour of closing, the benchmark index of the Tokyo Stock Exchange gained 0.33% to 9400 points. The Topix, meanwhile, lost 0.37% to 826 points.Une good news on the employment front remains the main index in the green: the unemployment rate in the archipelago has slightly decreased to 5 1% in August against 5.2% in July. There were 3.37 million unemployed in August in Japan. Household consumption rose 1.7% in August.

Transportation expenses, which inculent buying car, jumped 8.6%.But adjusted for inflation, this increase is only 0.8%, moderating the Ministry of Internal Affairs. Japan is still a victim of deflation as evidenced by this new lower price by 1% over a year collected in August. Excluding food and energy prices fell 1.5%.

The high cost of the yen, which reinforces the phenomenon and hinders the growth of Japan, is still a central concern of the government. The Prime Minister, Naoto Kan, promised Friday that his team would take decisive steps to halt the rise of the national currency.

Mixed

In China, stock markets in Hong Kong and Shanghai were closed. Side indicators, news, however, is very present. The China Federation of Logistics and Purchasing (CFLP), an organization close to the government, confirmed the development of the PMI manufacturing index, released by HSBC earlier this week.This well marks an acceleration in at $ 53.8 in September against 51.7 in August.

Even trend. In Korea, the loose Kosdaq 0.47%, the S & P lost 0.39% Australian. However, stock markets in India and Pakistan displayed increases of 1.16% and 0.28%.