World Articles

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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U.S. markets open slightly higher on Monday after a sharp decline Friday. Leaded by the accumulation of signs of slowdown in the global economy, the Dow Jones closed down by 1, 42%, to 11,951.91 points. The Dow Jones gained 0.35% to 11,994.07 points, the Nasdaq ahead by 0.40% to 2654.17 points and the S & P 500 rose 0.35% to 1275.37 points.

Like doubts about the financial situation of Greece weighing on European markets, U.S. investors should not however find a frank optimism as the Obama administration does not provide a convincing response to the U.S. debt.Hence the nervousness on Wall Street recorded, for 6 weeks, all finished in the red.

No waiting indicator

In the absence of major macroeconomic indicators and publications from the companies, markets keep an eye on the ongoing discussions about whether or not to raise the debt ceiling. From this point of view, the main concern is the possibility in the coming weeks, the U.S. can not cope with effect from 2 August to some of their repayment obligations, if the cap was not raised.

Side currency, the euro lost some ground against the dollar Monday in a market without much direction still hanging on the progress of discussions between EU leaders, who are struggling to find agreement on how to continue to help financially Greece.MP in the afternoon in Paris, the European single currency was worth 1.4379 dollars against 1.4348 dollars on Friday night.

On oil markets, prices started to fall Monday in a cautious market that awaits the decisions of Saudi Arabia on a possible increase of its production. Around 24:10 in Paris, a barrel of Brent North Sea crude for July delivery was $ 118.66 dollars on the Intercontinental Exchange (ICE) in London, giving 12 cents from Friday's close. In electronic trade the New York Mercantile Exchange, a barrel of light sweet crude (WTI) for the same period lost $ 1.19 to 98.10 dollars.

As for values

Banking supervision

Financial stocks could benefit from an article by the financial weekly Barron's pay day loans.The newspaper said the major banks like Bank of America (+0.29% to 10.88 dollars), Citigroup (0.71% to 38.19 dollars), Goldman Sachs (0.96% to 137, $ 23), Morgan Stanley (0.71% to 22.85 dollars) and Wells Fargo (1.26% to 26.61 dollars) are undervalued on the stock market and could see their progress as 25% of the next year, says the financial weekly Barron's. These shares are currently traded at levels close to or well below their book value, the magazine added.

Boeing: 0.80% to 73.27 dollars)

The will sell six Boeing 777-300ER to Thai Airways, which will also acquire eight Boeing 787 leased from ILFC.

Allied World Assurance: -1.88% to 56.98 dollars

The group will buy Transatlantic Holdings for $ 3.2 billion in shares, giving birth to a group of insurance and reinsurance with an ever wider and greater implementation. Transatlantic Shareholders will receive 0.88 share for each Allied as they hold the equivalent of 51.10 dollars per share, representing a premium of 16.1% over the closing price on Friday.

Gilead Sciences: -1.42% to 39.66 dollars

The biotechnology company, world leader of HIV treatment, said Friday it received a subpoena to submit to the court documents relating to its manufacturing methods, quality control and distribution.

Blackstone: +0.12% to 16.62 dollars

The group and the specialist debt Avenue Capital talk with investors in order to raise five billion dollars to invest in bond markets, reports the Sunday Telegraph.

VF Corp: 12.23% to 103.03 dollars Timberland: 42.48% to 42.73 dollars

The group announced Monday the acquisition of the apparel brand Timberland outdoor sports for $ 43 per share and a total of two billion dollars. VF Corp. expects this acquisition will allow it to add approximately $ 700 million to its turnover in 2011.

The chic below Chantal Thomass change hands. The Sun Brand Apparel Group, its owner since 1998, sells the brand premium to the group Chantelle. Works just be informed and that of Sun reported Monday a favorable opinion. Only remains to finalize the signing of the founder, Chantal Thomass, who holds 34% stake. It is currently negotiating an agreement to continue to oversee the creation and an option to sell its shares in the next few years. The transaction price is estimated at 6 million.

"It's been ten years that Sun is planning to separate from the brand but had always hitherto encountered opposition from Chantal Thomass, says Luc Genet, elected at Sun CFDT Our group realized that the Luxury was a world apart from ours and not as profitable as retail.They have not occupied the brand and let it sink. "Turnover Chantal Thomass would be increased from 14 million a decade ago to 8 million last year, with a loss of 2 , 1 million. According to the union, the shareholder of Sun for five years, the U.S. fund Sun Capital Partners, "undressing the bride to return the cash before selling the group."

With Chantelle, Chantal Thomass is a partner of choice Faxless payday loans. It is indeed one of the last French lingerie that has not resigned to suffer the inexorable decline of the sector. Employing 6,200 people for a turnover of 340 million euros, he went all-out on the distribution and brand while keeping both plants in France.Together with its claws Chantelle and Passionata, he developed the brand Darjeeling (126 shops in France) and acquired in 2006 Orcanta group Pinault (56 stores), which are already sold products Chantal Thomass.

Private name

The designer to the eternal dark fringe is about to write a new chapter in the eventful life of its brand. After having sold the Japanese group in 1985 World, she had been dismissed and deprived of her name. Then the company was liquidated in 1996. Chantal Thomass was then able to redeem his name and raise its claw with the Sun group, then in the hands of the U.S. Sara Lee. 42 employees will be included by Chantelle as part of the redemption. The elected Dim worried about the activity of other employees who worked in part for Chantal Thomass, one year after the restructuring, the group also Sun, the Playtex brand.

The euro has dropped by nearly 5% in a week. Such depreciation on the foreign exchange market in such a short time is rare. If some investors have been illuminated reap gains from the sacred, others had to lose a lot!

The euro rose against the dollar over from 1.49 to 1.42 in one week. (Chart from the trading platform of Saxo Bank)

Christine Lagarde is good news. The Minister of Economy announced Thursday evening that the forecast deficit of France for 2011 is reduced to 5.7% of GDP as against 6% previously. "We had committed to 6% for the year 2011 and I will announce tomorrow that the European partners have recalibrated our goal to 5.7%," she said on the eve of a meeting Budapest with its European counterparts.

Christine Lagarde also said it "maintains its forecast for growth to 2% for 2011, given all the indicators in manufacturing or in services."

Acceleration of activity

In his memo on the economy released on Thursday, INSEE rightly emphasizes that economic activity in France in the first half of 2011 will see an "acceleration"."In our scenario, the shocks go, resist the activity," summarized Sandrine Duchêne, head of the economic situation of the Institute.

INSEE, includes such an "acceleration of activity in early 2011 in France with a" rebound "of 0.6% growth in first quarter (compared to first quarter 2010), driven by manufacturing, followed by a "slowdown" to 0.4% in the second. France was well into mid-table European with Germany in pole position (1.1% in the first quarter, 0.6% in the second, according to INSEE).

To achieve the 2% increase announced by Christine Lagarde, France should show 0.7% in each of the third and fourth quarters, noted Jean-François Ouvrard, Head of Division cyclical synthesis.A new upturn in the economy would be necessary.

Rebound in exports

According to the institute, the French economy has benefited from a "rebound in exports early this year" in an international environment considered a "carrier". INSEE also relies on a catch-up "point" in public works, after a harsh winter. "A dynamic self-sustaining recovery has also been engaged for several quarters in France and consolidated, based on investment and employment," says Sandrine Duchêne.

Household consumption would be favored at the beginning of the year by the effects of "tail" of scrapping with the delivery of vehicles ordered before December 31, 2010.

The "shock" of food prices

Regarding the purchasing power of households, Insee said it would progress only (+0.1%) in the first quarter of 2011, before the second 0.3%.It would be sealed by the "resurgence of inflation" found after the oil shock of recent months. According to INSEE, inflation would be 1.9% year on year in June against 1.8% in December.

The "shock" to come will likely be about food. "Rising raw material was passed shortly, French singularity ', and its impact on consumer prices by distributors should intervene in the coming months.

Unemployment stabilized at mid-year

Regarding employment, the paper discusses the INSEE stabilization of unemployment by mid-2011. "On the horizon of the forecast, the unemployment rate would stabilize.It would amount to 9.1% of the workforce in France (9.5% including Dom), at the end of the second quarter of 2011, "INSEE said.

The increase in jobs in the first half of this year should be a little stronger than that of the working population (29,000 people) "supported" by phasing out the exemption from seeking employment. Because between January and June 2011, job creation would total 76,000 posts.

In the commercial sector (excluding agriculture), the most sensitive to economic conditions and has restarted last year, 78,000 new jobs would emerge, after 60,000 in the second half of 2010. 10,000 jobs would be created as non-employees.But in the non-profit, employment decrease of 7,000 positions, "because of declining admissions in subsidized contracts, while farm workers would fall by 5,000.

Through the mechanism of adjustment of wages to inflation, they should increase. But, despite this increase in nominal wages, real wages should remain stable in the first half, especially against the resurgence of inflation. "In Public, real wages continue early 2011 slowdown that began in 2010." The average salary per capita (SMTP) growth would fall by 0.9%.

No contagion from the debt crisis

Prudente, INSEE noted however that a number of uncertainties could affect its forecasts commme tensions on European sovereign debt."The current crisis seems to be very localized in Portugal," says Sandrine Duchêne, however, saying "the risks of contagion to all sovereign debt of the eurozone less important that a few months."

(With agencies)

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The iPad 2 has attracted the crowds. Over the weekend, the queues are often longer than last year, were formed before the Apple stores and shopping channel partners for the launch of the new touch pad in the United States. More than a thousand people are massed together at the Apple Store on Fifth Avenue, New York, against 700 in April 2010. According to a statement of the analyst Gene Munster of Piper Jaffray, Apple could have sold between 400,000 and 500,000 iPad 2 from Friday night. Last year, 300,000 iPad have been sold during the first weekend.

This strong demand for iPad 2 leads already to longer delivery times.The iPad 2 is now shipped in three to four weeks depending on the Apple website, instead of three to four day period during the launch, while distributors contacted by U.S. analysts said their inventories were at their lowest . Asked by the Wall Street Journal, a spokesman for Apple has described the request as "extraordinary" and said the company was working to fulfill all orders no fax pay day loans. The first iPad had known for several weeks out of stock, partly because of worries of supply of the screen.

The profile of the buyer iPad has since evolved. It is divided almost equally between Mac owners and PC, when the Apple faithful were over last year (74%), says analyst Gene Munster. Nearly half of buyers (47%) choose a model with a 3G connection, more expensive.They also turn more readily to the storage capacity of 32 GB and 64 Furthermore, some 70% of clients did not have two iPad iPad far. In another survey of ChangeWave institute, over 80% of U.S. consumers intend to buy a touch pad to turn to consider the iPad.

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Winter sales start on Wednesday. With this period of debate resurfaces bargain prices on many brands use interns as sellers. The collective Precarious Generation alarmed again this phenomenon, citing the low pay for trainees. They are paid "on average six times less" than the employee, the group calculates. In addition, these courses are often precarious, with no contract to boot.

"These are clearly disguised employment", says Julien Boucher, an activist in Precarious Generation, a movement born in September 2005, following a strike call and webcast spontaneous. "Teachers prefer to use this option during rush periods such as Christmas or year-end balances, rather than hiring temporary or CSD, they remained on the benches of employment center," laments he said.A trend that has accelerated in recent years.

Companies have "benefited from the crisis"

According to Julien Boucher, "companies have benefited from the massive crisis in recruiting trainees. The number of stagaires would be spent in France and 800,000 in 2006 to 1,200,000 in 2010. An increase of 50% in four years. Since its inception, Precarious Generation campaigns for a stricter training courses and in particular for increasing the salaries of trainees. For its part, the CFDT, which has made youth employment a priority for 2011, proposes to improve the lives of students, said its secretary general Francois Chereque, when presenting his greetings on Monday.

Article 9 of the Act of March 31, 2006 on Equal Opportunity oversees the conduct of business internships.Admittedly, it was amended by Law of November 24, 2009 which established the principle of compensation and minimum mandatory internships for a period greater than or equal to two months instead of three months previously provided by the decree of 31 January 2008. "But nothing is settled. It's always the level of remuneration is the rub, "Julien Boucher shade. If no collective bargaining agreement more favorable, the student must collect at least 12.5% of the maximum hourly rate of social security, equal to 22 euros in 2010. Is 417.09 euros per month for 35 hours weekly attendance of the trainee in the company."The whole, without contributing to retirement or unemployment insurance," said a member of the collective.

A new operation "punch"

This year again, Generation Precarious therefore benefit from the symbolic period balances to publicly denounce "deals made on wages through the misuse of training" and promises a "blitz" on Saturday. At the last such event, held on the opening day of sales in January 2008, members of the group gathered outside the Parisian department stores, Boulevard Haussmann, to distribute leaflets to customers and the Galeries Lafayette spring.

wmode = "opaque"

Singled out, signs are defending themselves contribute to an increase in placements abusive, reports Le Parisien / Today in France in a survey on this subject. "The students represent only 0.68% of our workforce.Their number is steady throughout the year, it does not increase during the sales or parties, "says a spokesman at Fnac daily. "We offer them at the end of their internship, and if they wish, paid positions when we can," says one at the Gap. Finally, Decathlon stresses that students recruited by the group are "compensated".

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Save the 3900 points this season. This seems to be the mission this week, the Paris Bourse. The CAC 40, which was chained Monday its fourth session in the red, troubled by rising Chinese interest rates, has opened higher Tuesday morning. He climbed from 0.27% to 3872.70 points at the opening and wins more openly 0.42% at 3878 points just before noon. Same atmosphere in the rest of Europe: the DAX index of the Frankfurt Stock Exchange has opened up 0.20% to 6984.85 and gained 0.15% to 6980.89 points at midday. The Footsie dozing However, London remained closed until tomorrow what should once again limit the volume of trade in Paris, already very quiet this summer.

Investors do not eventually follow the footsteps of their Asian counterparts.The latter, still under Chinese ads, heard the Tokyo Stock Exchange, which reacted negatively to several national macroeconomic statistics. The U.S. stock market, which reopened yesterday after a long weekend of Christmas, has closed its side in unity.

On Tuesday, several statistical trends could play during the day. In France, first, INSEE announced before the opening of markets, the growth of the French economy in the second and third quarters of 2010 was revised slightly downward, respectively up 0.6% (cons + 0.7% previously) and + 0.3% (against + 0.4%).Moreover, housing starts of new homes in France rose 9.5% year on year for the period September to November, while building permits edged up 1.5%, announced Tuesday Department of Ecology.

Most importantly, the United States, in the afternoon, will be published index of house prices, the index of investor confidence and the index of consumer confidence in December.

On the currency markets, the euro strengthens its rise against the greenback in a relatively sluggish. It trades at mid-session against 1.3244 dollars (0.62%).

Alcatel-Lucent is paying for corruption

As for values, Alcatal-Lucent was awaited.The telecoms group has agreed to pay more than $ 137 million under a settlement of a case where he was accused by the U.S. court of having bribed some officials to win contracts in America Latin America and Asia payday loans. Last February, Alcatel-Lucent said it had provisioned 93 million euros in the framework of the case. The Exchange finally responds well: in mid-session, shares climbed 1.57% to 2.199 euros and signed the second largest increase in the CAC 40, behind Michelin (2.11% to 55.14 euros) which recovering from his emotions yesterday.The automotive industry has indeed been penalized in Europe after the announcement of Beijing to limit drastically new car registrations in 2011.

In an interview with Echo, Bénézit Michel, executive director of refining and marketing of Total (+0.36% at 40.14 euros), announces that "strikes the month of October has cost 150 million euros in total" .

JCDecaux (0.73% to 23.32 euros) and Paris Airport (-0.44% to 58.92 euros) announced Tuesday the creation of a joint venture to operate the airport advertising.

Lafarge (+0.76% to 47.305 euros) sold its assets to aggregate and concrete Portugal, Alsace and Switzerland for 120 million euros.

The General Assembly of SIIC de Paris (stable at 17.85 euros) has approved the transaction Contributed by SFL (flat at 35.99 euros) in two buildings in the business district of La Defense exchange of 29.99% stake in the company.

Risc Group (+ 4.55% to 0.23 euros), which specializes in IT services, has endorsed the sale of four of its foreign subsidiaries to the STS software company for 6.1 million euros.

The banks are well oriented, rebounding after their difficulties from the previous day, especially due to the closure of London and the concerns about the Chinese rate hike, even if banks are less exposed to China: Credit Agricole (1.01 %), BNP Paribas (+0.49%), Societe Generale (1.08%) and Natixis (-0.08%) are among the highest increases.

Side of the few stocks showing a decline are Technip (+0.26% at 70.18 euros) and Accor (-0.76% to 33.31 euros).

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In 2010, Twitter has experienced a boom. One hundred million people have joined this year the website, which offers to share messages of 140 characters and links with a network of readers (called "subscribers" or "followers"), Twitter has announced this month. This figure, which brings about 160 million users of the site is supported by a study just released by the firm Sysomos. According to this, 44% of Twitter users have joined the platform between January and August. In contrast, only 4.7% of the site were already enrolled before January 2009.

This new influx of users has also resulted in a significant change of use on Twitter, reveals Sysomos.The number of users with over 100 friends in their network, ie user accounts which we receive messages in real time on his Twitter page, has tripled since 2009 and represents 21% of members site. Conversely, the share of those who take less than five accounts was almost halved in a year from 37% to 21%.

Conclusion Sysomos: "Twitter users consume more updates and maybe after more people outside their circle of friends."

A strong EU dimension

This is probably a consequence of the change in the Proposal for Twitter. At its launch in 2006, Twitter asked its members to answer the question "What are you doing?".Now the platform prefers a generic "What's going on?", Inviting its users to share information more interesting than "I eat an apple" and to draw attention to current events like New York or Bombay. The recipe was taken: In September, one of the leaders of the site said: "Twitter is not a social network is a network of information."

But as with any collaborative web platform, a minority of contributors generates the majority of content.

Thus, 22.5% of accounts are responsible for 90% of the activity. Conversely, 80% of members have published fewer than 500 tweets. The most active accounts are automated, that is to say they return flows generated automatically as RSS feed of articles published by a press site. Nevertheless, the community dimension remains paramount on Twitter.According Sysomos, the share of users sharing a brief biography about them rose from 31% in 2009 to 69% in 2010. In addition, 82% of site members share their name on their profile, as against 33% last year. 73% provide information on their geographical location (as against 44% in 2009) and 45% refer to a site (cons 22%).

"It shows that a significantly higher number of Twitter users agree to provide information about themselves, suggesting the growing importance of having a public profile on a leading social networks," Sysomos analysis.

This is also an asset for brands: "The growing share of available data makes it easier for companies to target individuals according to their interests, occupation or location." Good for Twitter, which is now seeking to expand its revenues.

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.