Not a word has filtered out of the conversation between Nicolas Sarkozy and PSA boss Philippe Varin. For nearly an hour, the two men met at the Elysee about the factory in Aulnay-sous-Bois in Seine Saint-Denis. The future of this plant, which employs over 3,300 people, would be threatened, unions fear. The presidency as the automotive group has declined to comment on leaving the meeting.
Nicolas Sarkozy wanted to convince Philippe Varin to organize a roundtable discussion with unions and industry minister, Eric Besson, "next week" to discuss the future of the site. A request of the unions, the president-candidate met Thursday at his campaign headquarters.
"All done" to save the plant
Nicolas Sarkozy said on Friday, on the antenna of i-TV: he will "do anything to save this plant." For him, it must "ease the burden on the wages of employees and the contributions of the company." He recalled that the business tax that has weighed deleted "250 euro per car manufactured in France." "It's fine to say that the cars must be manufactured in France, but if you put on in France making more taxes than elsewhere, there is a relocation," he concluded.
The unions said they were somewhat reassured after their head to head with Nicolas Sarkozy. "The words we hear a lot, but the words fly away, we want it written guarantees, said Jean-Pierre Mercier, the CGT. We play our skin. "And not just employees of PSA 9000 with direct and indirect jobs, PSA Aulnay is one of the largest employers in Seine-Saint-Denis, according to the General Council.
The record of the Aulnay plant is back on center stage last weekend. The unions had then expressed their disappointment after a meeting between employee representatives and management organized by the prefect of Seine Saint-Denis. But the concern of unions as of June 2011 and the disclosure of internal working documents of the automaker speculating a closure of Aulnay. Unions fear that the decline in production will continue and lead eventually to a cessation of activity on this site.
"We want to continue working"
In recent months the government has stepped up operations in the industrial thorny issues. Latest success, the recovery of the carrier Sernam by Geodis. In the case of Peugeot, the unions are skeptical, as expressed by Jean-Pierre Mercier Thursday: "We all know that the management of Peugeot expects the presidential and legislative elections to officially announce the closure of this factory, we are unwilling not die, we want to continue working. "
Google remains an unconventional company in many ways. In terms of governance, however it comes to side with the practice in the media sector. The search giant announced on the Internet Thursday night creating a new class of shares which confers no right to vote. This reform will enable the two co-founders of Google, Sergey Brin and Larry Page, and their partner Eric Schmidt, who surrendered the CEO Larry Page to a year ago, to lock their controls on capital and strategy Company.
The three men already control 67% of the voting today through their actions "Class B". On their own, Sergey Brin and Larry Page and hold just over 58% of the voting rights. However, the continued distribution of stock options to employees gradually erode this position of strength. To reduce this dilution, Google ranks the system in place so long at Comcast, News Corp. or even The New York Times.
The new songs called "Class C" will be listed separately. They carry no right to vote. But, if Google decides to distribute a dividend, the holders of these shares may perceive them. This probability increases as Google continues to accumulate considerable liquidity. Its cash exceeds $ 49 billion already. Besides their use in the distributions of stock options, these new shares may also be used to finance potential acquisitions.
Divide by two securities
Traditionally, this governance structure serves the interests of families who want to maintain their dominance in a listed company. The Murdoch media empire for News Corp. or Roberts for the cable operator Comcast fall into this category.
But more recently, the model was taken over by young companies whose founders intend converse control, despite a lucrative IPO. The new stars of the Web, Zynga, LinkedIn and Groupon, for example, have two types of actions, one of which is reserved for managers or shareholders historical and is accompanied by superior voting rights.
Mark Zuckerberg, Facebook founder, also intends to continue to control the voting rights of his company once it is introduced on the stock market, probably in May.
In addition, Google has responded to public inquiries wanting to buy stocks cheaper per unit. The Class A shares are divided into two. Today, before the division, the Class A share is $ 630. After division, the same amount would buy two titles.
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Like it or not, a sort of "peer government" is trying to establish in Europe. No national economic policy can now be released from the judgment of its neighbors and European authorities themselves, for better or for worse. While Spain had suffered fire Tuesday in financial markets, with the key rumors of a possible bailout like the programs in place for Greece, Ireland and Portugal, the German Government and the European Central Bank have seen fit to act as surety moral Wednesday, and in almost identical terms.
"Spain has undertaken major reforms in several areas, including finance, labor market and the banking sector," said Johannes Blankenheim in Berlin, the spokesman of the Ministry of Finance. "We regret that the markets have not yet acknowledged the enormous reform efforts," he added.
Almost simultaneously, but in Paris, Benedict Cœuré, one of six members of the ECB executive, developed the same argument. "The new government (in Spanish) has taken strong decisions … What is happening in the markets does not reflect the fundamentals (of the Spanish economy)." And the ECB representative, who attended a conference organized by the AFTE (French Association of Corporate Treasurers), joined the action to the word: "The ECB could intervene? We instrument for this, programs to purchase securities in the market, which has not been used (since February) but can be. "
The situation remains fragile
These words produced an instant effect on the markets. Yields on bonds of the Spanish State, which had peaked at 5.99% on Wednesday morning, retreated to 5.82%. However Italy has seen its borrowing rates harden, and the eight billion shares to twelve months were subscribed at a rate of 2.84% instead of 1.40% during the similar issue launched in March, while its refinancing conditions had steadily improved since the beginning of the year. This is clear proof that "the situation remains fragile … Governments must continue the efforts already made to restore sound fiscal positions and support the long-term growth," added Benedict Cœuré.
The roadmap on which governments will be judged by the markets is twofold equally important: first reductions of deficits and the other structural reforms likely to revive economies. Thus the European Commission Wednesday she said "the very important reform of the labor market" set up by Madrid, having welcomed the measures announced Monday savings in health and education, a total budget of 10 billion euros.
As president of the French Banking Federation and head of Societe Generale, Frederic Oudéa says the same thing: "You have come to show the markets that the trajectories become virtuous, and this requires a number of quarters to show that results are well go, "he said Wednesday on BFM Business antenna.
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Announced the surge does not occur. With complete freedom of movement since 1 May 2011, workers from eight Eastern European countries have not crossed the German border en masse. To the chagrin of a country in need of labor.
Last spring, there was a lot of hope and concern. The bosses were rejoicing the arrival of a highly skilled labor force required, the unions were alarmed competition for low wage costs. Frank-Juergen Weise, head of the Federal Employment Agency, estimated at 140,000 the number of workers from the East who would cross the German border. A year later, in an interview with the Rheinische Zeitung, there were fewer than half, 61,000.
Since 1 May 2011, nationals of eight countries of the European Union (Poland, Estonia, Latvia, Lithuania, Hungary, Czech Republic, Slovakia, Slovenia) have the right to come and work freely in Germany and Austria. "It's a pendulum swing of history, Timo J. Bass, of the Institute on the labor market (IAB). We Germans, who need so much labor and skilled young, we shot in the foot. "
When Europe has expanded to twenty-seven members in 2004, Berlin, Vienna and Brussels had negotiated with a further period of seven years to fully open their labor markets payday loan. Meanwhile, workers from the East who want to improve their living conditions have already emigrated. Location: England, Ireland, Scandinavia and Switzerland, with more attractive salaries.
Wages less attractive
Germany, however, suffers from the image of a country with low wages and poor career prospects. "Employers also require a perfect knowledge of the German language," says Timo Bass. In the globalized market and highly competitive "Best Minds" Germany is a party with several lengths behind.
Today, the sketch of immigrants came from Eastern Germany is Poland (67%), works at a temp agency or in the building sector, in one of the richest regions of the country as Bavaria. Those who cross the border rather are those who do not find work at home. Therefore: competition weighs more on low wages.
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The TGV will happen one day at Toulouse to Bilbao? The Pink City will she finally to 3 h 15 from Paris by train, against more than five hours today? The decision to build the new high speed lines (HSL) from Bordeaux will not be taken before long. But last Friday, a necessary step to making this project possible was reached: the Ministry of Transport has validated their route. By setting three new TGV stations at Agen (Lot-et-Garonne), Montauban (Tarn-et-Garonne) and Mont-de-Marsan (Landes).
If governments dither before launching the operation is that it will be very expensive. "At least 12 billion euros," said one expert. A huge sum when the coffers of the State and local governments are desperately empty because of the debt crisis. In February, the General Council of Lot-et-Garonne has already said he would not pay his bill for the Pharaonic site.
The hesitation is all the more palpable than funding another LGV, that between Tours and Bordeaux, was problematic. But this was "only" from one site to 7.8 billion. It was expected that 57 local authorities provide nearly $ 1.5 billion for this mega project won by Vinci in public-private partnership.
Finally, about twenty of these entities have defaulted. Foremost of these, the Regional Council of Poitou-Charentes led by Ségolène Royal, who refused to pay its contribution, fixed at 103 million euros. For this LGV can be built, the state decided to take the money for its support.
330 million accrued
It also will replace the General Council of Gers, who a month ago, is back on his promise to pay eight million for this line, as with other local authorities who have given up to get their hands in their pockets for this work. Of nudges that will not be pledged the state budget. The explanation? "Nearly 330 million had been provided by the State in 2011 to address a potential rise in interest rates which Vinci was exposed because the group had used bank loans to complete the operation, says an expert on the issue. But this rise in interest rates has not occurred. These sums have been used in part to address the failure of several local communities. "
Result, despite all these upheavals, the financing of the LGV Bordeaux-Tours is provided. And Lisea group, led by Vinci, can concentrate on the subject regardless of his income. Fortunately, as Europe's leading construction and concessions has not time to lose if he wants to meet the deadlines: the first trains will travel on this line as of July 2017 and will Bordeaux 2 hours from Paris against three today.
For now, Lisea, which was selected in March 2010 to complete this operation is on schedule. In February, the group obtained the approvals related to the protection of wildlife and waterways necessary to begin work. It also acquired 71% of the land where will this new line of 340 km. And if some owners may appeal to the justice of the decision on the expropriation, these procedures will not prevent the commencement of work. In addition, Vinci has completed all archaeological excavations on the route at the end of the year. Already, he started out small tasks related to land clearing or the connection of the new and the existing line.
But the real kickoff of the site will be given in a few weeks. "We will attack the earthworks in June, Tricot explains Hervé, President of Lisea. Four or five thousand people are at work in fifteen different places. This work will take three years, maybe less if the weather is good. "
Boost growth at any cost. After a disappointing year in 2011 – the gross domestic product grew by 2.7% against 7.5% last year – Brasilia announces stimulus plan to support the industry and allow an increase in activity of 4 , 5% in 2012.
By injecting about 60 billion reais (25 billion euros), the President wants Rousseff repeat performance of its predecessor, Luiz Inacio Lula da Silva, 2008: Brazil to get between the drops of the global economic crisis. National investment bank BNDES sees the wheel of private loans increase by 45 billion reais (18.6 billion euros), 15 industry sectors will be exempt from social security contributions and the State agrees to purchase priority of goods produced in the territory.
Meanwhile, Dilma continues to operate the monetary lever, lowering the base interest rate, now 9.75% – 4.5% inflation counted once. The goal is to break the vicious circle that kept at a level astronomical, on behalf of the fight against inflation, making financial investments more profitable than productive investment. Due to the low wages offered by European and American central banks, Brazil has become a magnet for capital. The massive influx of foreign currency caused an overvaluation of the real, local currency, draping business competitiveness and pushing up the debt service, at the expense of public investment.
Modernize infrastructure
Beyond the exchange rate, the "Brazil cost" is mainly caused by poor infrastructure cash advance loan. Lula and Dilma have realized by increasing the action of the State, through the Growth Acceleration Program (CAP), to improve the quality of roads, airports, bridges, and thus lower the costs of export. "But this is not enough: the investment rate is 20%, it would have to reach 25% if growth takes off," Roberto Messenberg tip, an economist at the National Institute of Economic Research (IPEA) .
If the response to stimulation of the supply train, Rousseff account on demand. In recent years, household consumption has increased faster than growth, thanks to better distribution of income, profit social policy and rising wages. Consequently, the credit showed an increase of 20% per year. To maintain this pace, the government has pushed the two leading public financial institutions, the Bank of Brazil and the Federal Economic Fund, to announce a drastic reduction of interest rates for consumers and small businesses. He hopes that private banks will follow, to capture those 50 million potential customers from the "new middle class" are qualified as having acceded to the poor consumer.
The main advantage of the government is public confidence. Despite slower growth, hiring continues, and the popularity of the president has set a new record in March, 77% of Brazilians plébiscitaient his way of governing the country.
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Stalled, Yahoo! was forced to cut its workforce. The group will remove 15% of its jobs worldwide. The stated goal by Scott Thompson, the new CEO of Yahoo! is to create a "new Yahoo! smaller, more agile, more profitable, better equipped to innovate faster." Incidentally, the group also explains that the job cuts should enable it to carry 375 million savings per year. The group, which will publish its results for the first quarter to April 17, plans to generate 125-145000000-saving in the second quarter 2012.
Yahoo!, which boasts of having "700 million users and thousands of advertisers," saw its results decrease substantially in 2011 bad credit payday advance. Its sales fell 22% in one year, to $ 4.9 billion and net income from 13% to $ 1.04 billion. In early January, Jerry Yang, who co-founded the company 17 years ago, had resigned from the board, led by disgruntled shareholders.
Since the arrival of the Internet landscape in Google, Yahoo!, former star of the Web late 1990s has continued to decline. In six years the title has sold 61% of its value. The group, which earned up to $ 56 billion has seen its market capitalization fell to $ 18.5 billion.
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"I appreciate the relationship with teachers, who consider our opinions and treat us as equals," said Alexia online payday loan lenders.
"I never agreed to turn in a series if it had not been open to international than that I propose today." Jean Reno, one of the biggest stars of the 49th edition of MIPTV, which runs until April 4 at Cannes, is entering the world became very select the TV series. It will be the key figure in the future production brought on a platter by Atlantic Productions (Lagardère Group) in TF1 and launches its first major international co-production.
In the purest tradition of French first commercial channel, "The Grand" is "an ambitious cop show" tour in English, created by Rene Balcer and (judicial NYPD, New York: Criminal Intent). "This is our first collaboration with Jean Reno in a series, says Laurent Storch, executive vice president of TF1, in charge of the cluster production. Its presence reinforces one of our convictions: building bridges between cinema and television. "
The actor, a great frequenter of blockbusters traveling, be sure seduced by the idea "of this series which is intended to be broadcast worldwide. I am sure that before long, she will even conquered the Asian market! "He smiles. Its role will be that of a Brigade commander whose criminal investigations take place in Paris. "The city is the second main character in the series," said one who promises to be "myself in this role. This is probably the one most like me today. This character is meant complex. This is not a single cop as I was able to interpret them so far. Jo has lived he has gray areas. It contains both the strength and humanity. "
International Strategy
TF1 has signed for an initial season, the amount for each of the eight episodes around 2 million no teletrack payday loan. The first French chain has agreed to buy the pre-set to the tune of 900,000 euros per episode. It should not be on air until 2013. The fact that it is filmed in English is clearly strategic. "For four years, we position ourselves in the international market because we are in a world increasingly fragmented between different modes of dissemination programs, be it traditional TV, VOD, or catch-up TV. We must be able to offer strong programs of international stature. Here at MIPTV, 98% of the proposed programs are shot in English, "said Takis Candilis, CEO of Atlantic Productions. The latter is also in Cannes to complete its financing from major global players in the audiovisual sector. Already, it has the input of the distributor SevenOne International, a subsidiary of Germany's ProSieben Sat1 and claims to be on the right voice to convince.
Admittedly, Takis Candilis arrives crowned with the success of the Borgias, co-financed by Canal +. A second season of the series written by Tom Fontana is also being prepared for a total of thirty million. What are the ranks of the largest international producers. TF1, we will however cautious about a second season: "We see the success of the first," says Sophie Leveaux, artistic director of acquisitions group. It must be said that the chain headed by Nonce Paolini also a development project of international series with Luc Besson, for now still in limbo. For his part, Jean Reno is not opposed to a sequel but it intends to hire "for a limited time" so as not to sacrifice his career in film.
"Market analysts estimate that the main candidates for future elections continue to show a clear commitment on public finances and reducing deficits. Investors still have confidence in our debt, "assured the FigaroPhilippe Mills, head of Agence France Trésor, the end of January. Debt, however this is a word we have heard since long in the mouth of the two favorites for the 2012 elections, Nicolas Sarkozy and Francois Hollande.
The gigantic figure announced Friday morning by INSEE – 1.7173 trillion euros, or 85.8% of GDP-has something to put the subject at the heart of the debate. And makes an urgent exercise of teaching on how to control deficits and debt, in a context where electoral promises are multiplying. The French in need, who have a concern, as investors continue to regard France as a country whose debt is reliable. And therefore, to lend to Paris to lower interest rate. For the record, this is partly because she did not see how the Hexagon was able to return to the nails of Maastricht that the rating agency Standard & Poor's had deprived him of his AAA mid-January free 3-in-1 credit report.
The right-wing candidate Nicolas Sarkozy promises "a financial closure to the nearest euro" of its program for the next five years if elected. He will detail next week. His rival from left, Francois Hollande, is vague on how to finance a project already well exposed. Just know that it is more by tax increases that cost savings that the Socialist candidate intends to restore order in the French public accounts.
For that stabilizes the debt, the deficit must be approaching 2% (against 5.2% in 2011). France does not expect that to happen before 2014. And to achieve this, efforts will be very important. It is therefore understandable that candidates avoid stress this enough sobering perspective …
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