The decline in registrations in France in June already gave an overview of the state's automobile market throughout the European Union (EU). The European Automobile Manufacturers Association (ACEA) has confirmed on Thursday the downward trend by announcing a 6.9% decline in registrations in the EU. In total, 1,341,092 vehicles were registered in June
For June alone, the largest drops are collected by Slovakia (-40.6%), Greece (-39.3%) and Bulgaria (-32.1%). In addition to these countries is Germany, the largest European car market, with a decrease of 32.3% to 289,259 vehicles registered. France, second largest market, recorded a decline of 1.3% lighter.To explain this phenomenon, ACEA highlights the end of support measures for the sector, including the scrapping bonus.
The largest increases were reported in Ireland (75.8%), Portugal (62.5%), Finland (54.6%) or Spain (+25.6%) and United Kingdom (+10.8%).
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LE FIGARO. – RTL ended the season with 12.1% audience. The media is 80.9%. Is not it a little low?
Christopher Baldelli. – The radio has a very good season from September to June with a small decline in April-June RTL is an excellent survey. It confirms two points, observed since January: our audience is progressing and RTL accentuates the gap with the second. This had not happened for two years. Our radio division overall is doing very well. Fun Radio even recorded the strongest growth of all radios throughout the season.
RTL is not followed by NRJ, a musical, but by the France Inter generalist. How do you change the competition?
I come from television. I found the radio, fierce competition. It is multiple, strong, and has talent. The performance of RTL is to have strengthened its leadership this season.Having a generalist such as France Inter behind us is exciting. But I do not choose the number 2. What matters is the performance of RTL, its audience and the gap to the next.
France Inter is leading in some quarters of an hour of the morning, between 12:00 and 2:00 p.m., and 18 h 45-20 h 15. What is your parade?
RTL is the undisputed leader on the morning throughout the season. However, we will intensify our efforts to return in the morning, with Yves Calvi, and lunch with Laurent Bazin and Elizabeth Martichoux.
You just changed the schedule for the 2009-2010 season.The next will Does your brand?
The schedule of RTL is both mine – I made some changes in September with Bixente Lizarazu and Eric Zemmour in January – as it is Axel Duroux, my predecessor, and that of his predecessor, Robin Leproux. If we have been active in the transfer market this year is because our grid is strong and there were points to be strengthened. This is not about egos but effective. There are a lot of our competition and offer must be constantly improved. Thus, the arrival Flavie Flament help to feminize our audience. We want to make a popular radio quality and also of interest to AB +. All our hires are part of this logic.
What will the impact of these arrivals gate at your cost?
I announced that we would be active in the transfer market.The cost of the grid RTL enrich well will be nearly identical to last season. We have begun a savings plan for 20 million euros over three years but we do not rule out investing in the grid at constant cost. Thanks to good audiences and advertising revenue growth, particularly in the second quarter, our profit margin will increase from 2010. This will be a double-digit growth. We aim to improve profitability on all radios without sacrificing programs. We are not in a purely managerial logic but first performance.
What are your goals for long-term stations?
Fun Radio has already made a nice progression of Hearing. We must now expand the total supply, with major events such as Starfloor at Bercy. This allows work on the brand and diversify our sources of income.I have no other target audience for RTL to be the best. We will launch in September a new website rtl.fr, which will more room to podcast and video. The mark must be alive and present in almost-French. We can not measure the impact on the audience, but it contributes.
The U.S. economy has begun to destroy jobs, after five months of net creation. In June, the number of job losses in the U.S. totaled 125,000 jobs including in the public, according to figures from the Labor Department. The figure was pulled down by the public sector, the end of the census causing the departure of 225,000 temporary workers hired for the occasion.
More importantly, the private sector alone has created 83,000 jobs. Is much better than the 33,000 net new jobs in the month of May However, analysts expected a figure close to 112,000. "We're going in the right direction but we do not go fast enough for many Americans. We are not moving fast enough for me either, "responded the president Barack Obama.
The increase in the number of private sector jobs due to "modest increases in various industries."The leisure industry in particular has created 28,000 jobs before the summer. Business services hired 21,000 people. Note, the industry continued to create jobs (9,000). The construction sector has meanwhile also destroys jobs (22,000), hit by a decline in new construction.
"Beyond these figures rather in line with expectations, the disappointment is the hours worked and wages," noted economists Exane-BNP Paribas. "Hours worked weekly find their level in April (34.1) and hourly wages shrink by 0.1% over the month." In bad omen for consumer spending.
On the other hand, the unemployment rate, calculated on a different basis, for its part fell 9.7% in May to 9.5% in JuneThe Labor Department said the decline by reducing the workforce and the growing number of discouraged workers who no longer work. "We still expect a gradual recovery in the labor market with unemployment rates remain high in 2010 before improving slightly in 2011," says Julian Thomas, an economist at Natixis.
"In general, the Labor Department report suggests weak growth, but not fallen into recession, say economists for their part of Societe Generale.
A significant number of European institutions is convalescing. Analysts estimate that more than twenty banks will be forced to raise over 30 billion euros, following testing of resistance. These tests, which must be published in late July, are expected to account for the ability of banks to support economic and financial extremes, particularly in case of new write-downs.
Already there are signs the sector's difficulties. Yesterday, the banks have asked for more cash than expected from the European Central Bank (ECB), illustrating the fact that institutions are unable to refinance them, and cast doubt upon the state of their balance sheets.Thus, after a special term refinancing operation of the ECB, 78 banks have borrowed just over 243 billion euros.
The concern germany
The latest statements by Axel Weber have also sowed doubt. The governor of the Bundesbank, Germany's central bank – has in fact asked to German institutions to raise funds to prepare for emergencies, in case they would not pass stress tests. The German regional banks, and Monte dei Paschi and Banca Popolare di Milano in Italy, Banco Popular in Spain or the Greek settlements, Portuguese or ireland would be most vulnerable.
Priority of Berlin and Paris, the tax credit has received a cold reception in Toronto at the G20. Despite support from Washington and London, the communiqué does not mention the tax lip as a legitimate option for banks to charge up the pieces of the crisis. But the G20 is careful to praise, to the chagrin of the French and Germans who are promoting at European level.
'There is no international agreement on the tax, "says the Canadian government, hostile to this project from the start. Canadians, Australians and emerging countries are opposed to this levy, because their banks have managed to ride out the storm without state aid. "The financial sector should contribute to the budgetary effort of governments intervened to fix the financial system or money abound resolution," admits the G20."Some countries are considering a tax credit, others are promoting other approaches," said the statement, which takes note of the divisions at the highest level.
Budget 2011 in France
Some guiding principles of tax are set out in the annexes of the findings, but the virtues "antirisques" of the tax are not highlighted. Most delegations, particularly Americans, found it more effective to expand the capital of the most exposed to risks to avert a future crisis. One option feared by European banks, less well capitalized than their competitors in North America.
Angela Merkel, who was the first in Europe to defend the tax credit on a European scale, is not surprised by the meager results of the G20. "We were not going to convince the world to Toronto to impose a tax on banks, this was not the goal!" Will be defended German side."The G20 recognized the legitimacy of the tax, it is well", says it does on the French side. "Whatever the decision of our partners, we will implement this tax!" Warned Sarkozy Nicolas who entered the menu of the budget 2011.
France is Germany and Great Britain seem determined to pay their banks but, despite the political display, the proportions remain reasonable so as not too lose competitiveness relative to Asian markets. Thanks to its tax, France has recovered 1 billion; Great Britain, 3 billion pounds, the U.S. counting on $ 19 billion.A lesser evil for Western banks, which always escape to the great reform of global financial regulation announced by the governments since the first G20 in Washington.
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Unoccupied for ten years, the site of the former Laennec Hospital in Paris will be revived. Saturday, Cogedim Altera marketing program will launch the most ambitious of the seventh arrondissement last fifty years. The site covers almost 4 acres close to the Bon Marché in one of the smartest districts of the capital where the promoter included the creation of 191 homes and 17,000 m2 of offices, all on 14,000 m2 of green space.
The difficulties of implementation have been the height of the project. It took ten years for the developer to start marketing. Meanwhile, he faced a succession of setbacks, including cancellation of permission by the administrative court finally allowed reinstated last year by the Court of Appeal.
The nine square meter the most expensive in Paris
Originally, the land was purchased for 80 million euros.On this site, twelve buildings will be constructed along the streets of Sevres and Vaneau. The size of apartments range from slightly less than 30 to 240 m2 and prices cover a wide range: they start at 9700 euros per m2 to over 20,000 euros per m2 for the most prestigious apartments. What constitutes a record in the new in Paris. "In contrast to traditional family apartments one hundred square feet, prices are equivalent, once updated, with programs of the sixth or seventh districts at the end of the previous cycle," notes Christian de Gournay, the chairman of Executive Cogedim. Delivery is expected in the third quarter of 2013.
Two buildings housing must be built and a student residence, a residence for the elderly (EPAD) and 4200 m2 of shops.The historic buildings, including the two wings of the old hospital, which represent cross of Jerusalem, will be converted to office with the insurance group Allianz owns. As for the hospital chapel built by Louis XIII and classified, it will be exhibitions or host events.
Fifty or advance bookings have already been made. "These are French, including provincial seeking a pied-à-terre. We have virtually no advance bookings by foreigners, "says Christian de Gournay. The left bank of Paris 7, the official name of the program, wants a "new neighborhood in the city."The former home garden of 3500 m2 will also traveled to Paris and open to the public.
In 2010, Cogedim launch 84 programs in France and expects 350 new homes sold in Paris, a sign that the stone is once again a safe haven.
Christian de Gournay, who wants to make the third Cogedim French promoter, provides 1.2 billion euros of reservations this year (+80% compared to 2007). Prospects that delight its shareholder. "We welcome the redemption Cogedim three years ago. Our presence in the residential property market contributes significantly to the cash flows of the group, "said Alain Taravella, the founding president of the land Altarea Cogedim.
Strained by the crisis, the departments are tempted to turn against the state. The dispute: With decentralization, the state has transferred powers to districts – including RSA, allocation personalized autonomy (APA) for the elderly and the provision of disability compensation (PCH) – without ensuring adequate resources.
"In the Loire-Atlantique, uncompensated costs, which relate to social benefits but also transfers of personnel or the fire service, amounts since 2002 at least 393 million euros and 521 million at worst. This is high compared to our annual budget of 1.2 billion, "said council President PS Patrick Mareschal. Who said that encryption is derived from a mission conducted by elected right and left.The APA says the bulk of the difference: spending rose from 54 million in 2003 to 77,000,000 in 2009, while funding granted by the state stagnated at 27 million.
Nationally, the Departments of Assembly of France (ADF) has calculated that in 2009 the department had paid 12.4 billion ABS, RSA and PCH but received only 7.8 billion in compensation. So they paid 4.6 billion. In 2010, it will be 5.5 billion. Nothing surprising: between crisis and aging, social spending would increase by 4% to 10% this year, according to the Centre for Social Action decentralized, after rising 6.3% in 2009.
Another day of solidarity
"These are not 5.5 billion debt of the State towards us. Because he never committed to offset all the benefits, "said Bruno Sido, UMP senator Haute-Marne and Secretary General of the ADF.The General Council of Loire-Atlantique does not see things this way and preparing to attack the state. "By summer, we will take the administrative courts, which will raise before the Constitutional Council the question of the constitutionality of funding mechanisms," said Patrick Mareschal. The fact that the Seine-Saint-Denis and the Saone-et-Loire have been condemning the state on a more limited subject, the protection of children, encouraging vocations. And the promise of reform Francois Fillon dependence, and therefore the APA, by the end of the year, did not reassure the elect. The ADF would rather play for now, the map of Parliament. "We will table a proposal loistipulant that the state must provide compensation for permanent and sustainable revenue," says its president PS, Claudy Lebreton.More specifically, the ADF is seeking to recover this year one billion undrawn stagnant social funds. Elected officials have the right, them, another idea: "Let's add another day of solidarity, in addition to the Monday of Pentecost," offers Bruno Sido.
Some creditors of Lehman Brothers International Europe could be reimbursed for money they are owed more quickly than expected. PricewaterhouseCoopers (PwC), the firm responsible for the liquidation of the defunct bank, has announced on Wednesday he would propose a "consensus approach" to the creditors 'ordinary', that is to say those who do not receive any priority. This approach would allow administrators PwC to assess themselves the debts of Lehman Brothers Europe instead of letting each of the 6,500 creditors of the bank with it according the approach known as "bilateral."
This method would pay most creditors in 2011 instead of 2013 at the earliest if each application was treated separately.But Steve Pearson, a partner at PwC and co-director of Lehman Brothers Europe quoted by the Financial Times on Wednesday said that in return, most creditors will expect reimbursement below their expectations.
A novel approach
Steve Pearson stressed that the consensus approach is a first, necessitated by the complex situation of Lehman Brothers Europe overnight pay day loans. It will save "a lot of time and money to both creditors and to Lehman Brothers International Europe. "What we wanted to do was something ambitious to make their money from creditors who need it," he said in the Wall Street Journal.
The sudden bankruptcy of Lehman Brothers September 15, 2008 has trapped some 6,500 creditors, mostly banks and insurance companies.Some estimate that the total amount owed by the bank amount to 22 billion dollars (about 17.9 billion euros). Aware that his proposal would probably not win the votes of creditors of the bank, Steve Pearson said that the consensus approach would be adopted only if 90% of unsecured creditors gave their consent.
In addition, the Financial Times reveals that Ernst & Young is under investigation in the United Kingdom on the audit that the firm conducted at Lehman Brothers before its bankruptcy. Ernst & Young has announced that it was cooperating and he reaffirmed that "the balance sheets of Lehman this year were relatively consistent with accounting standards.
We thought the matter carefully crafted, but Germany poses new threats to the Greek question. Uncertainties that could affect the markets in Paris, on Monday, including bank stocks. The index futures rose 0.43% to 3895 points.
On the macroeconomic front, no significant statistical indicator is expected, both France and the United States.
Air Liquide has posted a quarterly net sales up 5.2% to 3.1 billion euros.
Accor has also published its sales for the first quarter, pre-market Monday.
Other Value to follow Air France payday loans. The inquest into the crash of Flight AF447 in June 2009 confirms that the speed sensors have contributed to the crash but also puts into question the maintenance, so that will continue research to find the black boxes.The Airbus A330 Air France was on the route Rio-Paris crashed into the Atlantic on June 1, making 228 deaths.
The AXA Rosenberg Investment Management, AXA Investment Managers company revealed it had discovered an error in a modeling program that may effectively reduce some risks in his system to optimize its portfolio.
In an interview with Les Echos, Vincent Bollore admits he knew nothing about insurance. For, he joined the board of administrators that Saturday Generali, the third insurer in Europe. A weak point that his mentor Antoine Bernheim, president of the Italian group forced to resign because of his age (85 years), noted in an interview with Le Figaro there a fortnight.
But the owner of the eponymous group Bollor? defends himself by pointing out that he "knew nothing about the origin of transport, while the company he runs a business includes" Transport and Logistics, which accounts for more than 60% of turnover."I do not see anything that would prevent me to learn" the business of insurance, he said.
In any case, his ignorance on the subject does not stop to think that Generali "did not need money ', thus precluding any need to raise capital, as recommended Antoine Bernheim, the" friend of Bollor? family for over fifty years. "
Cesare Geronzi in continuity
Cesare Geronzi, head of Mediobanca, which is the major shareholder Generali which Bollore holds 5% stake, was unanimously chosen to be the new President, if all goes as planned at the meeting General Meeting of April 24. Bollore seeks will be the president.
Antoine Bernheim has tried to respond, so that no one offered him honorary president without at the board of directors. The latter believes that his age was a pretext for his ouster.He does not hesitate to criticize those who will head the group he led between 1995 and 1999 and since 2002, "Mr. Geronzi is not an insurer and he always said he did not want this post ", he said a few days ago.
For his part, Vincent Bollore – the boss of Havas – tells Echos that he thinks the new president "will continue" the development of Generali, which has "crossed the crisis period with the best results, congratulating the Antoine Bernheim passage for his record "excellent".
Bollore will become a shareholder of Generali
Entering at Generali, which is the third European insurer, Bollore intends to prove his "confidence" and "interest" for the group, including the purchase of shares Generali.This would appease the existing shareholders of the group that challenged that Vincent Bollore does not himself.
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