Posts Tagged ‘financing’

United States: Unemployment at lowest level since September 2008

December 25, 2009 - 8:03 pm Comments Off

Good news on employment front in the United States. New entries in unemployment at its lowest since September 2008, to 452,000 in the week ended on December 18. This figure comes after two weeks of up and confirms the downward trend observed since late March in the United States.

Analysts do not expect a decline of this magnitude and had forecast about 470,000 new registrations. The total number of unemployed receiving benefits rose to 5.07 million, a decrease of 127,000 persons over the previous week.

The Department of Labor, which published the statistics, held relative to this development, stating that "this week in particular is extremely difficult to adjust for seasonal variations, because the raw numbers can be very different depending on the configuration calendar year. Clearly, the actual unemployment has probably not declined much.

Case EADS retirement of general cause

December 18, 2009 - 2:23 pm Comments Off

"A real sense of justice," responded Thursday night Frederic Peltier lawyer EADS, reading the verdict acquitting the defendant in the general case EADS. "The victory of truth and right," said Olivier Gutka and Jean-Alain Michel, counsel for Noel Forgeard.

The Sanctions Committee of the Financial Markets Authority (AMF) has cleared in a 25-page document, the 17 leaders suspected of "breach insider" for selling stock options in March 2006 before the official announcement the delay of the Airbus A380 in June 2006. The private shareholders, Lagard?re and Daimler, are also exonerated. As for EADS, "the company did not breach its duty of information," insisted Fr?d?ric Peltier.

The most important case of alleged "failure" of insiders, known by the codename "0818 case" did "Pschitt" after three years of investigation.The Sanctions Committee found that none of the suspects had had access to inside information. Therefore, all the accusations fall.

"I'm very happy," said Noel Forgeard to his lawyers. Former EADS co-chair the Executive is considered as the only scapegoat. "He became the archetype of the offender financially. His name was offered as a sacrifice to public opinion, "responds a close. EADS has "welcomed" the decision of the AMF. For Louis Welsh, president of the European giant, the stakes were high. He arrived at the head of the group in July 2006 because of this case. He threw his whole weight into the EADS defense and accused persons.He was sent March 19, 2008 a note to the MFA in which he denounced an investigation "unilateral" approach and "surprising."

Last November, he again stepped into the breach. "I know each of the protagonists in this case. They are dishonest and not speculators. Imagine how they would have speculated about their own failure, "he said. Alain Flourens, an engineer passionate about his job, "will be able to think only of its aircraft.

Lawyers draw several lessons from this case. "This decision honors the Sanctions Committee. It demonstrates that it is an independent and impartial, "stated Olivier Gutka and Jean-Alain Michel. "This case proves that the contradiction must be implemented as soon as possible, ie before the notification of objections, that the investigation is not only dependent," says Frederic Peltier.In the future, defense lawyers want to present their arguments at the outset of the investigation "to avoid the truth of facts is truncated as was the case here."

The advocates were disappointed that AMF investigators have not heard from consultants McKinsey. They had been charged with a mission from December 2005 to June 2006 by Airbus to resolve the problems of industrialization of the A380. In their June report, they proposed solutions. They were confident

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The tandem Alstom / Areva wins Schneider T & D

December 1, 2009 - 4:59 pm Comments Off

The supervisory board of French nuclear group Areva, which had sold its subsidiary T & D in early summer, has finally opted for the duo consisting of Alstom and Schneider Electric. The offer of the two French partners has been preferred to the group nippon Toshiba and the U.S. conglomerate General Electric.This sale, representing 4.090 billion euros, will be an opportunity for the duo buyers to separate the activities of T & D, Alstom recovering the Transmission, representing two thirds of the business of Areva T & D, and Schneider getting the p?leDistribution or the remaining third.

A decision criticized by the very leaders of Areva T & D

The proposal that was adopted was harshly criticized last week by leaders of Areva, who fear the social consequences of such an operation would generate such choix.Une "inevitably a period of uncertainty and disruption" and would "impact social "warned leaders of 41 Areva T & D through a letter addressed to Anne Lauvergeon, the president of the group.The main fear of the unions, meanwhile, concerns the industrial sites of T & D that could make duplicate sites with Schneider Electric, forcing it to make layoffs. Both French have repeatedly pledged not to make any site closures or redundancies resulting from the assignment for at least three years after the release of Areva.

Toshiba plans to open a dispute

In a statement issued Monday evening, the Ministry of Economy welcomed a procedure described as "open and transparent" who "has to have three firm offers very high quality." The offer of two French is "appeared the best bid" under the "respect for proprietary interests of Areva" and "development of the industrial and employment," the statement said.

But already, the Japanese group Toshiba is ready to react and could quickly open a dispute for a decision "as it considers unfair" according to the daily Les Echos.

The sale procedure of Areva T & D would not have been fair and raises "questions" in terms of legality, has openly declared Tuesday a professor of public law Guy Carcassonne, which advises Toshiba. "The impression it gives is that the dice were loaded," he said. "It offers a significantly lower prevailed. This suggests that there is a criterion that was applied and which was not originally planned. "Perhaps this is the nationality?" Questioned the lawyer.

At General Electric, it is more reserved, expressing "disappointment" that its offer was not accepted for return Areva T & D."Although disappointed by the outcome of the process, the company will continue to invest in the long term, to develop its technology and foster its growth in the business of transmission and distribution," the company said in a statement. The offer from General Electric was "robust and competitive" and would "preserve the plants, expertise and leadership Areva T & D was built in France," he argues.

Areva had received November 9 three proposals to purchase farms for its subsidiary T & D. This should enable the group chaired by Anne Lauvergeon to fund expensive development projects on his heart craft that represents the nuclear industry. This subsidiary provides systems and services for the transmission and distribution of electricity, employs 31,000 people and accounted for so far 40% of group sales Areva.

Tobacconists resigned to higher prices

October 15, 2009 - 9:10 am Comments Off

For the first time, Eric Woerth, budget minister, will dry the annual convention of tobacconists, which opens its doors Thursday morning at the Palais Brongniart in Paris. Officially adopted by a busy agenda, the Minister responsible for tenants was certain not to make a splash. 30 000 tobacconists fear into effect the measures about to be President of the Republic.

During the presentation of its cancer plan, expected by early November in Marseille, Nicolas Sarkozy is expected to announce a substantial increase in cigarette prices, including the exact amount is not yet defined.It could also decide to make it mandatory to print on each packet of photos shock presenting evidence to support the ravages of tobacco on the tongue, teeth or lungs … What deter smokers, according to proponents of this method .

Reportedly, the President will decide on these two points in the coming days, after having considered the report of a parliamentary commission on "the future of tobacconists." The three deputies who have been working on the subject (Richard Malli? Thierry Lazaro and Jean-Marie Binetruy) must make public their recommendations next Tuesday.

Roselyne Bachelot, the Health Minister, has in turn supported an increase in tobacco by 10% every year …. What would be a disaster for tobacconists."Since 2003, prices have already risen by 40%, and 4 000 retailers have put the key under the door, said Pascal Montredon, president of the Confederation of tobacconists. Our sales have collapsed, but consumption has not declined. However, smuggling is it at the same time, from 2 to 24%% of the market. "?ric Woerth he would favor a price increase limited to 6%. In addition, an increase could have a cons-productive income tax on tobacco, which last year reached 13 billion euros.

Reportedly, the firm Eric Woerth declined to comment, the customs administration have prompted during September cigarette manufacturers to offer a 6% increase on cigarettes. The new rates, which should have entered into force October 6, have not been gazetted, pending the announcement of the cancer plan.Such an increase would be too high for tobacconists. So far reluctant to adopt any increase, they have changed their tune. "We are not opposed to a slight increase, says the Figaro Pascal Montredon. But it will be up to 5%. And yet, we will not accept the condition that the Customs strengthen the fight against trafficking border operations by the mafia networks and the Internet. "

"Yes to photos shocks, but one side …"

To avoid the fate of his colleague Bruno Lemaire, Minister of Agriculture, knocked on his last visit to the show breeders, ?ric Woerth has just sent coal Jerome Fournel, Director General of Customs. His speech to the newsagents is eagerly awaited.

Tenants will also show that more reserved about the shocking images."I have not presented any serious study showing that it lowers consumption, says Pascal Montredon. In Belgium, sales have not declined. And French consumers do not hesitate to cross the border to provide them with the benefit of lower prices. "

However, tobacconists recognize the impact of images, since they do not wish to have before in their shops. "I imagine ill all day selling a legal product with such images, said Pascal Montredon. We could not imagine putting that on one side. "Peace in the civets may be at this price.

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Eurotunnel interested in High Speed 1

October 15, 2009 - 9:09 am Comments Off

The operator of the Channel Tunnel was awaiting the decision of the British government for over a year. Eurotunnel is already a candidate for the purchase of High Speed 1, the line speed of 108 kilometers which connects the tunnel to the station of Saint Pancras, London, and will sell under the plan to sell assets of the British government. "We are clearly concerned, says a spokesman for the group. It is the natural extension of our business. However, it is likely that we did not go alone. "No other buyer has not yet positioned as clearly on the record that the Franco-British. The value of the first high-speed UK, whose work cost 8 billion euros, has not been sent.It now belongs to London and Continental Railways, owner of the UK rail infrastructure.

Since its inauguration, this line enables Eurostar trains to run at high speed after the Channel Tunnel. The journey time between Paris and London is now 2 cons 2 h 15 h 52 in 2003.

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