Louis Welsh, president of EADS, on Tuesday presented the results of fiscal 2009 marked a net loss of 763 million euros, with heavy consequences including increased provisions under the Airbus A400M and the effect of exchange Euro-dollar negative (1 billion euros for the third consecutive year).
But observers have in mind the case of U.S. tanker. The defense giant Northrop Grumman American announced that he would compete to win a contract for 35 billion dollars to provide 179 refueling aircraft to the U.S. Army. This is the first installment of a giant order of 500 aircraft for 100 billion dollars. Northrop said that the criteria of the tender favored Boeing, also nominated. Consequently, EADS, his partner had no choice but to throw in the towel.
The news caused an outcry in Europe.«(…) During the current crisis, the smallest signs of protectionism are harmful, "accused Brüderle Rainer, German Minister of Economy," even in the field of defense, free competition should not be hampered unilaterally. The Foreign Office warned that "France, with the European Commission and its European partners concerned will proceed to the consideration of this new development and its possible implications.
A complaint before the World Trade Organization (WTO) seems to be excluded because it is not competent defense. And it can not intervene following a sovereign decision taken by a private company, namely Northrop. Louis Welsh did not want polemics or insult the future: "I am not a politician but an industrialist. I am part of a fact.The U.S. market remains a priority for us. "He was careful not to comment on the decision of its American ally. Northrop could have filed an appeal before a federal judge because he had a strong case. He preferred to drop and de facto release EADS. For the Democrats who control Congress have pushed the message. We must leave the field open for Boeing needs this contract to stay in the field of military aviation. Boeing, whose headquarters are located in Chicago, a stronghold of President Obama. Northrop would have been assured of being able to catch up on other contracts. He could not alienate its biggest customer, the Pentagon, who can not stand to see its decisions appealed to the GAO, the U.S. equivalent of the Court of Auditors. This was the case in early 2008 when Boeing was denied victory by Northrop and EADS.And succeeded.
Result, the U.S. Army for ten years waiting for its new tanker. Today is back to square one with, as in 2001, only one bid. It is possible that again the Republicans react as they reject the absence of competition.
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March 10th,2010
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Placed on oxygen last year, European manufacturers have yet to most tipped in red. And 2010 looks even more complicated for them they will have to relearn how to breathe alone. Due to the cessation or reduction of premiums for scrap, which had supported at arm's key markets of the Old Continent, PSA Peugeot Citroën and anticipating a decline in European markets by 9% this year, a decline in Renault Ford 10% and a dip of 15%.
Good registrations in January and February (17.8% in France last month) "reflect only the orders taken in December, said Tuesday at the Geneva Motor Show, Carlos Ghosn CEO of Renault. The latter includes a decline in sales from the spring.
"We still expect a strong headwind in Germany and Europe in general," said his side Martin Winterkorn, head of Volkswagen.The German market, after taking off in 2009 with the premium snack, could lose more than one million cars this year. "Despite some positive economic indicators in some countries, consumer confidence, undermined by rising unemployment, is not sufficient to engage in buying a car, for its part says John Fleming, the owner Ford of Europe, which sees no strong recovery before 2011.
So, the price war is raging. "There is an increase in rebates charged, they are difficult market conditions, said John Fleming. We must find a balance between the gains in market share and promotional expenses realistic creditreport . Even finding for drivers to maneuver and supervisors who work 20 minutes at 1:35 less than their working theory. On the RER B, managed with the RATP, the effective working time of workers down even at 5:50 am daily.
The institution of the Rue Cambon notes that despite its efforts, the station is "not reached a sufficiently relaxed social setting strictly regulated. A situation that could weaken against its competitors and "constitute an obstacle to its development."
The Court of Auditors called the coup, a "necessary harmonization of rules between the station and private operators.
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The Court of Auditors pinned the transport sector
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The setbacks being experienced with Toyota vehicles never seem to end. The giant Japanese automaker has indeed announce on Tuesday it will recall more than 400,000 hybrid cars in the world affected by a defect in the braking system. Among them, 223,068 vehicles sold in Japan, including 199,666 Prius. In the U.S., the figure stands at 133,000 and thousands around the world. This is another blow for the giant Nippon automotive after the 8 million vehicles returned to the garage because of problems of accelerator. The cars are concerned, primarily, the third-generation Prius, manufactured and marketed in Japan since last year.
The worldwide recall also covers tens of thousands of Lexus HS250h and SAI, whose sales will be discontinued in Japan until late February or early March.It also applies to a few tens of Prius PHV, which should be commercialized on a large scale in 2011, but already leased to Toyota by some companies and institutions on a trial basis.
This promises to reverse the more painful for Toyota, it has built its strategy around hybrid vehicles, equipped with a dual fuel engine and electricity, and presented as "environmentally friendly". This announcement follows the statement by the head of Toyota in the United States, Jim Lentz, who admitted Monday that the Japanese manufacturer had been aware of problems pedal acclération in 2007 but the case had not then been identifée, thus denying that his group had hidden recurring problems.A Californian has even filed a lawsuit against Toyota, alleging that it had several problems with its brakes Prius.
Toyota shares gained nearly 4%
During a press conference on Tuesday morning – the second in just three days – the Toyota President Akio Toyoda, reiterated his determination to regain the trust of its customers and ensure that Toyota may "everything in its power" to that payday loans . "Let me convince you that we will redouble our commitment to quality, which is the heart of our society, under my direction," said Aiko Toyoda. The CEO said he would travel to the United States to explain about the reminders.
Aiko Toyoda also confirmed that Toyota will be able to immediately repair the defect on the Prius.However, the remedies are not yet ready for other models recalled, where the interruption of sales agreed in Japan. However, activity has resumed in North America, having been suspended. What Toyota does not deal with several lawsuits in partnership with the United States and Canada, from motorists who accuse it of concealing the existence of the defect of the pedal ' acceleration of their vehicles.
The Prius, whose first version dates from 1997, the hybrid car is the most sold worldwide, with about 1.5 million copies sold in late August 2009.It is central to the strategy of Toyota, whose goal is to sell more than one million hybrids worldwide each year.
At the Tokyo Stock Exchange, the share of Toyota rose about 2.89% to 3375 yen, investors saying it had fallen to a level undervalued.
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Declining tax revenues and rising costs: the state budget did not end in 2009, suffering from this terrible effect scissors. The budget deficit widened to 143.3 billion euros in November 30, cons -66.6 billion a year earlier, said the Budget Ministry on Tuesday.
The difference, over one year amounted to 76.8 billion euros. He "explained mainly by the impact of economic conditions on changes in revenue and up to 34 billion euros by the end measures of recovery plan," says the ministry said in a statement.
In late November, total expenditure amounted to 329.7 billion euros, 13.9 billion more than a year ago. A difference can be explained by the cost recovery plan, advance Bercy."Out Recovery Plan expenditure (general budget and levies on revenues) increased by 850 million euros a year to another," says he.
In late 2009 the fiscal deficit, however, register under the 140 billion euros, one billion less than originally planned, said the Budget Ministry. This table to limit the deficit on tax revenue in December "slightly less degraded" and on "buoyant spending.
Direct consequence of this widening deficit, government debt under the Maastricht should represent 77.9% of GDP at end 2009 and 84% of GDP in 2010. To fill this gap, the state will borrow this year to market a record $ 188 billion.
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The Paris Bourse ended the session up on Monday, recovering some lost ground over the last two sessions last week (-1.16% to close Thursday and Friday -0.95%). At the close, the CAC 40 index ended up 2.05% at 3872.06 points for a trade volume of 2.4 billion euros. The famous rally Year-end "appears to be a good reason for investors to" play "on the rise.
No statistics were published on Monday. In contrast, the rest of this week shortened (end of quotes provided 13 hours Thursday and closing of the Exchange Friday) should be marked by the third estimate of U.S. GDP for the third quarter and the sales figures in real estate the United States.
The detailed values follow …
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"Serenity insured for your Christmas shopping: place an order before 12:30 pm December 22 with fast delivery or before 16:30 December 23 with the Lightning shipping, and Amazon.fr you book in time for Christmas in metropolitan France and Monaco!". In his mail, Amazon reassuring. However, a strike after the tip of his nose in the only warehouse logistics France, in Saran, Loiret. On site, 40 employees on the 1200 account that the site have ceased trading on Tuesday's call to denounce FO difficult working conditions and wages too low.
The trigger was the decision of management to Amazon to unilaterally raise salaries by 1.5%. "We wanted a dialogue and we have not been heeded. This increase represents an increase of 18 to 20 euros net per month.It is insufficient to increase purchasing power, "complains Sebastian Boissonnet, Steward FW from Amazon. The union does not fail to recall that in the third quarter, the site of online sales has earned a 68% growth in net income. Its operating profit rose 62% to 251 million dollars for a turnover up 28% to 5.45 billion dollars.
Recognizing this, the strikers demanded a general increase of 4.8%, a 13th month for employees, supervisors and managers, meal vouchers supported 60% by the company, and finally a budget increase of Works for social works.
No disturbances
To listen to the strikers themselves, the service should not be disturbed. The company has in fact appeals to a reinforcement of 600 to 700 to ensure the temporary work.Tuesday, Amazon reminded the AFP's requirements: "Our customers are our priority, we continue to do our best to ensure the quality of the experience of shopping on Amazon is optimal, and this obviously includes the fact to be delivered in time for Christmas. " Contacted for comment on Wednesday wage demands, the U.S. did not wish to speak.
Pressure
For the union, this strike will probably not reopen discussions but it should attract attention on the working conditions of employees. According to FP, these are deplorable and become even more in October, early Christmas shopping. "We always stores addition, discharge huge pallets without security. When one points out, we answered 'done with'.On 7 hours of work, we have only 23 minutes break, so we ask for 10 more minutes, "says Sebastian Boissonnet.
The pressure is also very hierarchical palpable. Hence the low mobilization. "There are services management at the plant. Since Tuesday, the manager came to us saying 'think about what you do'. "
For now, the union discussed the action in motion. This is the first strike from Amazon. A baptism that the company could have done at this time of celebration. Especially since the group table, during this period, a boom in sales of between 21% and 36% compared to fourth quarter 2008.
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How to better control the price of gas? That is the question posed by the UFC-Que Choisir in a study released Tuesday and conducted for the association, the Microeconomix firm, specializing in economic analysis applied to energy. The study, which decrypts the various components of gas prices, indexation of long-term contracts to supply gas to that of petroleum products is no longer justified because "the gas reserves are larger and Practice these two energies are not quite the same. " Moreover, this calculation method penalizes consumers for petroleum products are part of an upward trend and are very volatile. The UFC-Que Choisir gives the example of the United States, where there is a real market price of gas. Its price is low given the recession and the discovery of new deposits while the oil prices started rising.The association proposes that consumer gas prices for the supply, are no longer indexed to oil prices and encourages GDF-Suez and state shareholder to initiate a reflection on this subject.
Costs associated with better delivery boxes
Another point raised by the study: the opacity of the costs of delivering gas (transportation, distribution, storage). The UFC also regretted that the information on the operating expenses of transportation and distribution are not published. The same is true of financial results of storage of GDF-Suez and Total, the two current operators. The study also reveals that the total capital committed to the transportation and distribution in France are paid at a rate higher than in other European countries. The idea would be to align to allow a reduction in the cost of these positions.Thus, for transport, the decrease corresponds to 4% or lower fares for consumers in the order of 0.4% since this activity represents 10% of the total cost. For distribution, the decline would be 3%, slightly less than 1% for the end consumer because the distribution represents 25% of total costs. Finally, for the association, it is necessary for storage, whose price has increased 20% over three years to become a regulated activity, as are transportation and distribution. Currently, operators of gas freely set their rates. The UFC is therefore proposing that the costs of bringing gas to final consumers are better supervised.
At present, regulated tariffs for natural gas are set by the government after recommendation from the Commission of Energy Regulation. Last October, the government had decided not to change the price of gas.According to the formula for calculating the new rates, the decline would be limited to 0.6% to 0.7%. The last drop of gas took place last April. It was around 11.3%.
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Lawyers thwart the security arrangements at the Palais Brongniart
Monday, November 23 is the day j. The 17 questioned and their lawyers converge on the Palais Brongniart which will open at 9 am hearing. Frédéric Peltier, one of the lawyers of EADS, parked his scooter Rue Notre Dame des Victoires. It is 8:15. It comes with the guards of the ancient temple of the Exchange side "little entrance". But to see spurned. For lawyers and lawyers is the main entrance Rue Vivienne, he launched the guards. Counsel toured the building and enter through the "grand entrance". He wanders the corridors of the MFA, where he met other colleagues including the Master Deleuze. They eventually enter the courtroom where there are several members of the AMF. What are you doing here? How did you come? surprised them.Unwittingly, some lawyers have foiled security system set up specifically for this extraordinary hearing!
A large room with small tables
The hearing takes place in a room in the Palais Brongniart, which can accommodate a hundred people. Each respondent has a pre-assigned spot with his lawyers. The seats are comfortable but the tables to make the voluminous documents are narrow and impractical. There is also a little too hot in the room. But the MFA has done his best to hold this special meeting of its duration (one week), because of its size and quality of debate. We have never seen such a concentration of lawyers gathered in one place. Each respondent is accompanied by two or three senior lawyers who themselves come with their assistants. A total of nearly 80 lawyers are willing to participate in debates.
The MFA is she competent?
Frédéric Peltier, one of EADS 'lawyers, pleaded incompetence of the French gendarme market (AMF). It relies on a directive (text that must be transposed into national law of each member of the European Union) EU adopted January 20, 2007. It stipulates that companies listed on several European markets can not depend on individual country regulators that their security is the stock market. The directive states that depend on the stock of Constable country where their headquarters office. For EADS, it is the Netherlands since the headquarters is based in Amsterdam. That is why the BaFin, the German equivalent of the AMF French (AMF) has been divested of the investigation into the alleged insider trading unlike its French counterpart. "Is this a new French exception?" Questioned several defenders.
The minutes of hearing of McKinsey on tables.
Thursday, November 19, Noel Forgeard, the main accused in the case lodged itself at home AMF Place de la Bourse in Paris, an envelope containing a letter addressed to Daniel Labetoulle the Chairman of the Disciplinary Commission of the AMF, with a copy of the minutes of hearing consultants McKinsey by the police financial brigade in early 2007. The defense believes that this is an essential part because those experts have conducted a mission at Airbus between December 2005 and June 2006 to resolve industrial problems of the A380. They proposed in mid-March 2006 and considered possible solutions to meet deadlines. Lawyers have found this document on their desk Monday morning, entering the room where the hearing is held at the Palais Brongniart.Noel Forgeard is liable to a fine of several thousand euros for having sent a copy of this document was in the record of legal proceedings.
A Thierry Francq document leaked to the press
On 1 April 2008, the MFA press release informs that it will notify the objections to individuals and companies it suspects. It has taken this decision following the final report prepared by the department investigation. On 8 April, a website publishing the report in its entirety. The criminal investigation has proved that this document was one that had been given to Thierry Francq who was then the government commissioner, state representative, College of MFA. This document was accessible to several people at Bercy where he was stationed. Since Thierry Francq was appointed by Jean-Pierre Jouyet, the new President of MFA since December 2008, Secretary General of the Constable of the Exchange.A few cases commonplace.
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Local governments have reduced their investments by 2.7% in 2009, according to the memo on the economy of the bank Dexia. Can we conclude that the stimulus package the government has been ineffective? No, say experts Dexia. The decline would have been far higher without the flagship of the plan, the repayment with a year ahead of the VAT if the community is committed to invest more. As a result of the election cycle, 2009 could not be a good year for investment. In the second year in office, mayors have not yet launched new sites. Evidence that the stimulus package has had a positive effect of joint investment has declined only 3.1% in 2009, when he fell from 7.9% in 2002, another year post-election .
Still, the financial community may raise some concerns.Again in 2009, their operating costs rose faster than revenues (4.7% against 2.7%). The balance between the two remains the beneficiary of 39 billion euros is indeed an obligation, communities had no right to have an operating deficit. But the mattress decreases. Infuriating when you consider the blow on the property tax, property tax and business tax that taxpayers suffer this year. The fault lies with the transfer duties, the famous "notary fees. Dependent on the housing market, they have dropped 26% this year. For departments, the loss reached 1.9 billion euros, exceeding one billion additional revenues associated with higher taxes. Meanwhile, because of the crisis, these same departments, which included support the RMI and the RIAA, have suffered a 5% increase in social spending.
However, the debate on local government spending is far from exhausted. Excluding transfers of state employees, their numbers grew by 34,850 people this year and personnel costs rose by 4.9%.
In addition, as the subject arose from the difference between revenue and expenditure decreases, communities need to invest into debt. Their debt grew by 4% in 2009, and this leads to 132.1 billion euros, or 6.9% of GDP. This year, lower interest rates has reduced the cost of debt for municipalities, counties and regions. But it will not last forever. Even without the reform of business tax, the financial stability of communities becomes more difficult. And the state is determined to limit the growth of the funds it pays them.Municipalities, counties and regions will in future make an effort on the expenditure or investment, or operation, the experts conclude Dexia. They noted that reflections on the mutual commitment and optimization of operating costs. Continued …
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