After a week of rumors, the announcement is, this time, official: the General Motors made its entry into the capital of the French group PSA Peugeot Citroen, according to an official. GM takes and 7% stake in PSA, which carries a massive increase in capital of around one billion euros. GM is now the second largest shareholder of the French group behind the Peugeot family.
The alliance will focus on platforms and components and provides a joint venture in purchasing. The first vehicles from a common platform GM-PSA will be marketed from 2016. Expected synergies from the two manufacturers totaled $ 2 billion annually within five years.
This alliance gives rise to a powerful global industry leader with over 11 million vehicles sold per year worldwide.
First French carmaker, PSA is currently experiencing serious financial difficulties. Its net debt rose in 2011 from 1.2 billion to 3.4 billion euros. Leaded by Europe, sales of Peugeot and Citroen fell 1.5% last year while the global market progressed by 3%. The group announced last October a comprehensive plan of saving 800 million euros that could cause the elimination of 4,000 positions this year saving account pay day loan.
With his new partner, the Lion brand will achieve greater flexibility for financial resume investment as an upmarket in Europe and the creation of a new plant in India.
GM weighed down by its European subsidiary Opel
For his part, General Motors has certainly taken over in 2011 the title of world number one Automotive Japanese automaker Toyota. But the American could benefit from expertise of PSA to finally leave the red Opel, its European subsidiary. It announced in mid-February to have lost $ 747 million in 2011.
Peugeot confirmed Feb. 21 that he "consider [ed] the cooperation projects and alliances (…) as part of its globalization strategy and performance improvement." Without specifying with whom, but rumors already evoked release of GM. Last night, the Financial Markets Authority (AMF) had called PSA to communicate "as soon as possible" on the alliance, while multiplied rumors of a capital increase.
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While the Lorraine steel industry is fighting for its survival, the region is to take advantage of its central location in Europe to attract Chinese companies. Monday, the company TerraLorraine presented in Thionville (Moselle) his plan to create an area of 130 hectares on which Chinese companies will be moving.
"We target medium-sized Chinese businesses, with between 5,000 to 20,000 employees, says Régis Passerieux, president of TerraLorraine. This is to welcome their branches, subsidiaries or representative offices in Europe. "This project, located Illange, between Thionville and Metz, will take place in five phases over a period of ten years. The first is about 245,000 square meters. "The building permit has been issued, said Regis Passerieux. The construction will start in September or October for delivery late 2014 or early 2015. "
Attempt to Chateauroux
The project proponents expect the creation of 30,000 direct jobs in ten years, including 3000 for the first phase. "We have already received numerous Stay Tuned! From Chinese companies," commented President TerraLorraine.
This subsidiary of an investment fund specializing in real estate business, Comex Holdings, is investing € 150 million directly in the first phase, without aid.
"A business center value-added"
Lorraine is not the only region to show interest in China. At Chateauroux (Indre), a former NATO air base and is already in work to attract Chinese companies. Launched with great fanfare two years ago, this area, which would accommodate 4,000 jobs, slow to see the arrival of Chinese companies.
"We want to make a business center TerraLorraine value-added, not just a center for retailers," says Regis Passerieux. Voices are raised to point the risk of these locations: the Chinese would simply assembled on site products made in China. They would get the precious label "Made in France". "It is better to be active rather than undergo massive imports", however, defends Passerieux Regis.
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Olympus is preparing to renew its leadership. The group of optical and medical imaging, the center of a scandal hidden losses, said Monday it has chosen children of the seraglio to compose his future Board. The group is now led by Hiroyuki Sasa, now in charge of marketing.
Olympus has also promised to appoint six outside directors (most already linked to the group) of the eleven new members to its board of directors to be presented for approval at a special meeting of shareholders on April 20.
A scandal of hidden losses of $ 1.5 billion spread over thirteen years to put down the reputation of Olympus. Last summer, the group managing director, Michael Woodford, was curtly thanked by its board of directors after requiring clarification of accounting anomalies revealed in the press.
Since then, the president "historic" Olympus and six executives were arrested. In a country where a charge often means a conviction (almost all of the defendants are convicted in Japan), these arrests have cast doubt on the sustainability of the group in its current form.
Exit the ambiguity
Too broke out, could be sold by Olympus divisions to another industry. Its medical imaging division in particular displayed an insolent financial health despite a fiscal year 2011-2012 which looks disastrous for society (200 billion yen loss forecast for the year which will end in late March). Sony has already shown particular interest in the activities of Olympus.
Meanwhile, the current management group, on borrowed time until April 20, closely linked to the ousted president, trying with difficulty to break the ambiguity. The next president is chosen as Olympus just SMBC, the bank group, so its main creditor, who has covered, probably by laxity, all of its accounting maquillables.
"It is not desirable that the president comes from SMBC", pleaded last week the U.S. fund Southeastern Asset Management, which owns 5% of Olympus. Wasted. To date, most members of the board are being sued … by Olympus.
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The former stars of mobile phones, Nokia, Motorola, Sony Ericsson, RIM (BlackBerry) and even Microsoft have missed the turn of the smartphone. Can they still get back in the race? Their image is tarnished by this delay. BlackBerry and Nokia-Microsoft duo are the first victims. They are also penalized by the unattractiveness of their application stores. While Apple displays 550,000 applications in its App Store and Google 350,000, for its Android Market, RIM and Windows Phone as having between 10,000 and 50,000. In response, the Canadian has just effected a turnaround first. It is now possible to download applications on its Android tablet playbook. For its part, Microsoft relies on the arrival of its new Windows 8, dedicated to the convergence between tablet PC and smartphone finally manage to win in telephony. Telcos want the arrival of a third player to escape the duopoly Apple / Google. For now, these wishes are not sufficient to ensure a start to a fanfare Windows Phone. Specialists have to find many beautiful virtues, it has sold just over 1 million Lumia (the Windows Phone from Nokia) since their launch in mid-November no faxing payday loans. For Nokia, it's a matter of survival. For Microsoft, success becomes an obligation, in a world where smartphone sales surpassed those of PC.
Motorola bought by Google
"Ten years ago, consumers chose a terminal. Today, they opt first for an ecosystem, "said Pierre Peladeau, an analyst at Booz & Co. And for now, the choices are on Apple and Android. The brands of the 2000s fetish pay the price. Sony Ericsson, soon renamed Sony, seeking to revive the glory. The new product launches are expected to accelerate. For Motorola, the situation is more ambiguous. The former star of mobile telephony, inventor of the clamshell phone, was bought by Google in August. Motorola has released its new Razr Android without the benefit of exclusivity from Google. The latter should spare the susceptibility of its other clients, Samsung, LG and other HTC.
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Lefigaro.fr is the first news site in France in January. The study Médiamétrie / NetRatings, it was viewed by over 8.8 million unique visitors a month. A hearing is always the historic site of Figaro to a million users of the follower.
Development, the second place, occupied by Orange in December, was conquered by the Nouvel Observateur. High of 7.7 million unique monthly visitors, the site of the weekly benefits from the integration of "pure player" Rue89, bought in December.
Launched in late January, the site of the Huffington Post has also brought new visitors to the World, which brought together a total of 7.3 million Internet users in January. The web offers daily evening was nevertheless made the steal third place from the site of Le Parisien / Today in France, with nearly 7.5 million unique visitors.
January has generally drawn the hearings of the press line up. Portals and aggregators of articles edited by tech giants have, themselves, not take advantage of the French appetite for news. Orange News was relegated to sixth place in the ranking with 6.7 million unique visitors, Yahoo! News is eighth with 5.4 million visitors, MSN News and Google News are respectively the 11th and 13th.
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Dispute between experts around the social VAT. Valérie Pécresse, the budget minister, expects the measure to create 75,000 to 120,000 jobs. Nicole Bricq, the rapporteur of the PS budget to the Senate, believes that the decline in employer contributions, coupled with recovery of 19.6% to 21.2% VAT and the rise of the CSG on savings, will at best 30,000 jobs. And, at worst, destroy 40,000. The Senator had to defend its position in the Senate Wednesday night, when reviewing the draft supplementary budget including introducing VAT and social tax on financial transactions. A review which promised rapid, left, majority, having decided to reject the text of a block rather than amend the clause by clause.
To achieve these numbers, Nicole Bricq reasoning in two steps. She said the VAT increase will cause a price increase of 0.5% to 0.7%. This additional inflation weigh on consumer spending, resulting in the destruction of 120,000 positions. Meanwhile, the decline in employer contributions will create between 80,000 and 150,000 jobs. Hence a total balance disappointing.
"The cuts decided by the Government target salaries between 1.6 and 2.1 minimum wage, so skilled workers. Companies hire these workers when they need their expertise. The issue of cost is secondary. As a result, reductions have little incentive effect on the hiring decision, "Nicole Bricq reasons. She said it was to hire unskilled workers that cuts costs may have a strong effect.
A Keynesian model dated
At Bercy, an estimated economic models selected in previous official reports, listed by Nicole Bricq, are based on reasoning "Keynesian" obsolete, making the consumer the only engine of growth possible. The government counters that it is precisely to encourage competitiveness and thus growth in exports.
The executive wanted to target anyway wages very practiced in the industry, in order to reduce labor costs. Nicole Bricq replied that the loss of competitiveness of French industry does not come from labor costs but an innovation problem. That's why she regrets that the capital budget for the future, focusing on research, has been punctured billion to mount the store industry.
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"The King of good times," the king of good times, has become "The King of bad times," joked Monday the Indian press, referring to Vijay Mallya, the baron of Indian beer and whiskey. This is the slogan of an unfailing optimism that the flamboyant businessman was created in 2005, Kingfisher Airlines. The company is based in Bangalore, in southern India, which is native Vijay Mallya.
Today, Kingfisher through an unprecedented financial crisis. A nightmare, even for users. Saturday, the company has canceled 32 flights on the 240 it is supposed to operate daily. Same, or almost, Sunday and Monday. And the situation is not likely to improve, analysts believe.
Last week, Kingfisher announced a loss of $ 88 million in the third quarter of its fiscal year, almost double the deficit in the previous quarter.
Earlier last year, the airline was forced to restructure its debt, and 25% of its capital is now 18 banks, led by National Bank State Bank of India (SBI). It refuses to bail Kingfisher as its CEO will not bring new money. Experts believe that to break the deadlock, Vijay Mallya is to find faster 400 to $ 500 million of capital.
Monday, Branch of Indian Civil Aviation (DGCA) has summoned officials of Kingfisher Airlines to demand an explanation of these untimely cancellations. "We received information on a large scale cancellations. They are obliged to inform us when they cut their flight plans. But they have not done, "said K. E. Bharat Bhushan, the head of the DGCA.
Unpaid wages
Passengers expressed their anger on social networks, including complaining of having been warned of flight cancellations at the last minute. A habit which Kingfisher has no exclusivity. State-owned Air India does not hesitate, it no longer, to bring its customers with a fait accompli
.
Saturday, some employees walked out of Kingfisher, furious at not having received their salaries. The flight cancellations were even worse. Mallya sent an email to all staff. A message in which he expressed his "regret" and said "understand the implications of these back wages privacy" of its employees and said it would not close his company. Kingfisher is mostly losing all credibility with its most loyal customers. A vicious circle from which the company may not get out.
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February 21st,2012
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Saturday accused by Marine Le Pen to slaughter according to halal "all meat" distributed in the Ile-de-France, industrialists defend themselves. President of the National Association of interprofessional Livestock and Meat (Interbev), interviewed by France Info, the judge charged the president of the National Front "absolutely false".
"In the Ile-de-France, a vast majority of meat is not slaughtered according to halal or kosher," which involves killing animals without stunning, ensures Dominique Langlois. "It may be that parts or pieces of meat from carcasses are slaughtered according to these rites, but that does not change the quality of meat and it does not change at all the qualities of the product," adds Will it.
For professionals in the meat, the charge of Marine Le Pen "is meant strictly political and did not match the reality of things." "It's a debate that can only be detrimental to both the meat industry to French and French production that does not need it," warned the president of Interbev.
The animal rights groups mobilized
This debate is not new. Last year, six associations have denounced the increasing proportion of animals slaughtered according to Jewish or Muslim rites. According to the Foundation Brigitte Bardot, who had made an investigation in slaughterhouses, more than 60% of sheep and goats, 28% of adult cattle and 43% of calves were then killed without stunning, but that consumers are warned.
In France, however, requires the slaughter, since a decree of 1964, the stunning of animals before killing, thereby mitigating their suffering. But European legislation provides an exemption, "when stunning is not compatible with the ritual prescriptions under the free exercise of religion same day payday loans."
Approval before waive stunning
Two bills were filed in late 2010, the Senate to the Assembly, without success, to obtain a specific labeling of meat slaughtered without stunning. "The consumer has the right to know what he eats. He has the right not to eat meat slaughtered in a ritual which does not believe him, "argued the UMP deputy Nicolas Dhuicq. A new amendment, introduced in September 2011, was also rejected.
On 29 December, a decree was published in the Official Journal, however, requiring 275 French slaughterhouses to obtain, on or after 1 July 2012, before an official authorization from the rule of stunning. "It does [may] be granted only to slaughterhouses in favor [...] of a registration system to verify that it is used to slaughter without stunning as a result of justifying the commercial orders, "said the Ministry of Culture.
Marine Le Pen wants to complain
The animal rights groups have expressed quite satisfied with this text. "Being able to justify a ritual slaughter is a specific order is important because, currently, most of the meat of this kind of slaughter is found in conventional circuits without any indication to consumers," recalled Christophe Marie, spokeswoman Brigitte Bardot Foundation.
Marine Le Pen was not in favor waiting for the entry into force of the decree. On the sidelines of the convention of his party, being held this weekend in Lille, it announced its intention to attack "a few major retail supermarkets in Ile-de-France for misrepresentation of the product." She said wanting to file a complaint with a civil order for a judge to be seized, which could lead to an investigation of several months.
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Hard times for the 380. After the case of microcracks detected in the wing of the superjumbo, Airbus will he deplore a new problem, this time in the "nose" of the device? The European Aviation Safety Agency (EASA) is interested in any case the rivets of radom, that is to say the cover that protects the radar of the aircraft.
The authority may decide to issue in the coming weeks an airworthiness directive (AD) requiring the change of six rivets aluminum rivets titanium stronger. The 19 airlines that operate the world's fleet of 69 A380, eight months have to do this for an average of 3:30. Clearly, they would have time to schedule it as part of their regular maintenance schedule.
After the decision to order the Efsa a general inspection of the planes of A 380 in service and production, totaling one hundred aircraft, the image of the A380 takes another blow. However, this type of airworthiness directive is very common in aviation. All aircraft receive throughout their careers.
Two types of directives
"The FAA, U.S. aviation safety authority, has issued more than 830 airworthiness directives for Boeing B 747 in forty years," says one at Airbus headquarters in Toulouse. "For an airplane, receiving such a directive is as ordinary as to think about changing the wiper blades on your car or an oil change," says one.
The Aesa issues two types of directives: the current, AD, and urgent, called "emergency AD." In the case of microcracks, the two directives were common. The agency goes up a notch when it considers that the subject can affect flight safety. In this case, companies have little time to react, sometimes not even 24 hours.
In the case of rivets, flight safety is affected in any part, Airbus insists. The manufacturer points out that these are not structural elements. Six rivets 40 to 50 by radom "are not likely to blow up" the unit cover.
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Kellogg's takes its revenge. After being out of the game last year, the world's leading cereal offers Pringles potato chips, for $ 2.7 billion. It takes advantage of misadventures of the seller, Procter & Gamble (P & G), which had entered into negotiations in April 2011 with fellow American Diamon Foods for the sale of Pringles.
These negotiations were unsuccessful, the purchaser being mired in a huge accounting scandal. Within months, the stock price Diamond Foods has lost half its value. But the company had committed to spend $ 2.4 billion, mainly in equities, to get their hands on Pringles. In early January, Diamond Foods announced it would need to reassess its accounts the past two years, following an internal investigation into its accounting practices. Hours later, P & G said look for an alternative.
Kellogg's and P & G should complete the operation by the summer. The withdrawal of Diamond Foods will not result in financial compensation for P & G.
By offering the brand of chips, which generates about $ 1.5 billion in sales and employs 1,700 people, Kellogg's is a giant step for the future. "Pringles has a global presence that propels to Kellogg's second in the world of crackers, helping us achieve our goal of becoming a real business of cereals and snacks," says John A. Bryant, CEO of Kellogg's, which topped last year's $ 13 billion in revenue.
PepsiCo, the leader
Sold in over 140 countries, produced in Belgium and the U.S., the Pringles potato chips become the second brand of Kellogg's Special K behind The U.S. giant has already Keebler cookies and crackers and Cheez-It Townhouse. The group also sells cereal bars and fruit snacks. But he has to go up a gear abroad.
"The acquisition of Pringles it provides a platform for international distribution of its products ready for snacking," analysts said BernsteinResearch. This should lead to synergies, particularly in Asia, where Kellogg's is still low.
Dominated by PepsiCo, the snack market, with sales approaching $ 65 billion, grew twice as fast in the last five years in emerging markets (+9.6% on average) than in mature markets. The sale of Pringles brand disengagement of P & G's food, a segment where the world's leading consumer products had tried to diversify in the 1990s. In 2004, he had already sold its Sunny Delight juice. It intends to focus on cosmetics, personal care and cleaning products.
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