The UMP deputies know that the growth forecast (1.75%) on which the draft budget for 2012 is revised downwards, and a new train of savings 5-7000000000 necessary, in addition to 11 billion already planned for next year. "The 2012 budget is credible, but it can be denied by a significant slowdown in growth," Analysis Louis Giscard d'Estaing. The Vice-Chairman of the Finance Committee of the Assembly recalls that "the time of the government of Lionel Jospin, it was the logic of the cicada, while in Germany Gerhard Schröder had imposed a cure without reduction of wage restraint working time, in line with the ant. But the wind is coming … "says the deputy of Puy de Dome, paraphrasing the fable of La Fontaine.Vice President of the National Assembly warned the Socialists: "Those who would maintain the idea that there is room for maneuver in the reuse of public spending, as does Francois Hollande, would directly threaten the notation France and our ability to deleverage. "
However, Louis Giscard d'Estaing is convinced that there is still food for thought in the financing of 35 hours. He will file an amendment in the bill funding the Social Security (PLFSS) for further reduce the limit on exemptions from employer contributions on wages at 1.5 times the minimum wage (currently against 1.6). Which would represent just over one billion euros in savings, if the measure comes into force on 1 January. He even suggested to lower the ceiling to 1.4 times the minimum wage in July 2012 to "give companies time to adjust."The UMP also suggests to "a general movement of the plane of the allocations to the operators of the state" by reducing them to 3% in 2012 payday advance lenders.
"Do not replace two staff on three"
In this area, Hervé Mariton (UMP, Drôme) also proposes to "ease the regulations that impact cost." Other proposals of the Liberal "not to replace two of three officials" and "examining investments less profitable," particularly in the area of infrastructure. "Do not panic about short-term savings. We will be judged on the strength and seriousness of a savings plan in the long term, "said Mariton. Special Rapporteur of the mission work jobs, Chantal Brunel (UMP, Seine-et-Marne) will propose to leave the tax deduction on home jobs "all leisure activities and relaxation."Isabelle Vasseur (UMP, Aisne), Rapporteur of the Finance Committee on Social Security Financing Bill, will propose this afternoon the establishment of "prevention, source of major savings in health" she assures.
The former chairman of the Senate Finance Committee Jean Arthuis think we need to "reduce the amount of grants to local authorities" and "to lower executive compensation operators of the state." Former budget minister, Dominique Bussereau is more cautious: "We are still on the bone. The revision of public policies (RGPP) was very effective, so that the state is under-Box at the local level, "says he.
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Financial markets had clearly joined the decommissioning of the debt rating of Italy. In fact, the announcement on the night of Monday to Tuesday, the degradation of the Italian note by Standard & Poor's had only a moderate effect on European markets. At the finish, the CAC 40 gained 1.50% at 2 984.05 points. The volume of trade is still small. About 2.6 billion changed hands on the great values of the Paris stock exchange.
Having dithered for most of the session, the other major European markets have also opted for the green in the very last lap. 2.88% ahead of Frankfurt, London and Milan by 1.98% to 1.91%. Wall Street awaited with optimism after the Fed meeting on Wednesday night.In session, the Dow Jones gained 0.47% and the Nasdaq 0.62%.
Paris, which opened on a slightly pessimistic quickly changed his tune, from the bulk of the session in the green. The index briefly accused the sudden mid-afternoon, after the publication of a report by the IMF lowered its growth forecasts in the world and expressed concern about the evolution of the economy in the United States and Europe. The organization has also warned against the risk of destabilizing the global financial system if the debt crisis continues to spread to major countries in the euro area Online payday loans.
If he had anticipated the deterioration in the rating of Italy by Standard & Poor's, the Paris market, retained a great excitement to the crisis of debt in the euro area and remained suspended including ongoing negotiations to avoid a bankruptcy of Greece.A new conference was scheduled Tuesday night between the Greek Finance Minister Evangelos Venizelos and the "troika" of the creditors of the country, European Commission, European Central Bank and International Monetary Fund. The outcome of these negotiations is crucial for the country. It conditions the payment in October of the sixth round of eight billion euros of the loan last year in the euro area country and the IMF.
In Paris, banking stocks have nevertheless taken the index back down green. Societe Generale lost 2.43% and 6.32% BNP Paribas. However titles sensitive to the dollar ended sharply higher, with the image of LVMH (3.64%) and EADS (3.11%)
Car manufacturers ultra-luxurious living on another planet. The downside risks, of concern to general groups, do not seem to disturb them. Concessions in the Ferrari, "consumers are not worried about a recession. The last I saw did not look desperate, "said Sergio Marchionne, the CEO of Fiat, at the Frankfurt Motor Show.
The Prancing Horse brand also provides for a new record this year by selling 7,000 cars, against 6,570 last year. Ferrari is also counting on a profit before tax "significant", following an increase of 23% in 2010 to 302 million euros. "I'm not worried because we have quality, exclusivity, a strong brand and innovative technology," said its president, Luca Cordero di Montezemolo.
It is the only one to be extremely confident.Rolls-Royce (BMW Group), whose boss, Torsten Mueller-Oetvoes, said he was "optimistic" about prospects for its niche, also wants to exceed its historical performance of last year (2711 cars). The luxury brand will invest 11.4 million euros to expand its plant in Goodwood English and plans to increase its network from 85 to 100 outlets.
Buyers richer
Sales of the major European luxury brands (Maserati, Lamborghini, Ferrari, Bentley, Rolls-Royce and Aston Martin) are expected to jump 19% this year to 28,100 vehicles, and increase by 13% in 2012, according to a study by IHS Automotive no checking account payday advance. "The rich are becoming richer, and the number of millionaires in emerging and growing. It is a very positive trend "for specialists in this niche, says Erich Hauser, an analyst at Credit Suisse agency quoted Bloomberg.For him, "should things go really bad" for the champions of this market find themselves in difficulty.
The ultra-premium segment should be able to pass through an economic downturn better than in the previous crisis, which saw sales of certain brands to collapse, says the CEO of Rolls-Royce. "This market is growing steadily since its low point in 2009" but "we are aware that there are risks," acknowledges, however, Stephan Winkelmann, Lamborghini's boss. But for now, the Italian brand of the Volkswagen group does not seem to fear a decline in the purchasing power of its wealthy clients. It will produce 20 Sesto Elemento for early 2013. Their price: 1.6 million euro.
The leaders of the euro area have increased their telephone calls all day Friday, but failed to contain the fire in financial markets. The European stock markets recorded a tenth straight session of declines, despite employment statistics better than expected in the United States.
The pressure was at its height on Friday night Silvio Berlusconi, Italian Prime Minister. According to Reuters, the European Central Bank had asked him to commit to implement fiscal reforms quickly, a prerequisite for debt it bought the Italian Treasury. This would include an amendment to the Constitution so Italian and to introduce a "golden rule".Rome could make announcements to that effect from this weekend, in exchange for which the ECB would intervene in the markets next week to support the Treasury of Italy. These rumors had the effect to strengthen the euro against the dollar.
Sign of financial globalization accelerated the past three years, Asia is now that Western countries face their responsibilities. Major creditors of the United States and the eurozone, Japanese and Chinese have expressed their annoyance. "We hope that the United States adopt measures to ensure the safety of assets held in the U.S. by other countries," said Chinese Foreign Minister Yang Jiechi.The latter also called on the world's major economies to strengthen their "communication" and improve "global economic governance."
The Minister of Finance of Japan, Yoshihiko Noda, for his part called "to discuss" problems of market distortion currency, debt crisis and U.S. economic issue. Asia calling the West to deal with its imbalances, the G7 in reverse!
Calls to Action
Side the euro area, the calls begin to be heard. According to the Commission President José Manuel Barroso, who has asked Member States to vote as soon as the new aid package to Greece, the Commissioner of the Economy, Olli Rehn, has increased calls for the Friday action. He acknowledged that "the current crisis is not just Europe cash advance now."He said the solution may be to the world and "international coordination through the G7 and the G20 is very important," two bodies currently chaired by France. In this context, Nicolas Sarkozy has held since his vacation spot in Cape Negro a telephone conference with German Chancellor Angela Merkel, Italian Prime Minister Silvio Berlusconi and Spanish Prime Minister Jose Luis Zapatero. He also had talks on Friday with Barack Obama. But as in previous crises, Europe is still far from offering a united front to the markets. Spanish Finance Minister, Elena Salgado, has sharply criticized the European Central Bank, which, she said, created "confusion in the markets."Implicitly, Madrid surprised that Jean-Claude Trichet at a press conference on Thursday, has announced the resumption of purchases of debt of Ireland and Portugal, two countries with financing needs are in principle already covered by the European Solidarity Fund (EFSF), even if it is unable to avoid tension on the secondary market.
However, the ECB has done nothing yet for Spain and Italy, which are in turmoil.Another sign of division: several Anglo-Saxon sources have suggested that the decision to resume the buyback of sovereign debt was opposed by the Germans, Dutch and Luxembourg in the Council of the ECB.
"The market seems to have understood that the European Summit of 21 July has finally brought a DIY solution to alleviate the difficulties of the peripheral countries of the Union", are economists Natixis. Principal is the day the bond markets, the rate loans to ten years in Italy increased over Spain, 6.12% and 6.03% respectively.Hence the pressure on Berlusconi by the ECB, and behind its main shareholder, Germany.
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Further escalation, that night, in the war between the elected officials for several months Republicans and Democrats in the U.S. to find a solution to the need to reduce the U.S. budget deficit. Having failed to reach an agreement with Barack Obama, the chairman of the House of Representatives, Republican John Boehner, Friday slammed the door to negotiations with the president.
At issue this time, as the Republican's will vote Democratic president to make an additional $ 400 billion of tax increases. A demand unacceptable, according to Boehner, while the two sides had previously agreed to a ceiling of one trillion dollars in additional tax revenue.This Saturday, the threat of a default by August 2 of the world's largest economy has thus further increased.
Of default formally excluded
The President has convened several political leaders to an emergency meeting Saturday afternoon at the White House to try yet again to reach compromise. Both sides say they are confident of raising the debt ceiling (14.294 billion U.S. dollars), reached on May 16, but whether common ground had been reached on the amount of the uncapping. Barack Obama and John Boehner have ruled out a formal non-payment within 10 days.
But the talks still face the question of the amount of budget cuts and debt reduction.Republican side, John Boehner said that after the new clash, he preferred to look to the leaders of the Senate to find a "reasonable" on these issues. Which casts a big doubt about the outcome of negotiations Saturday with the president, which is called Boehner. Democratic side, Barack Obama is prepared to assume full political responsibility to raise the debt ceiling in order to unlock at least for a time, the status quo. "If that's all Congress can do, I will sign an increase in the ceiling to take us to 2013," the president said.
Obama recalled that he had proposed to the Republican's $ 1.65 trillion spending cuts various offers an "extraordinarily fair" said the president.But still not enough for John Boehner, who accuses the president's inability to take "tough decisions" on reducing public spending. Boehmer wishes to bring to the 3 trillion budget savings over 10 years.
Time-critical
The time to find common ground is critical. The readiness of Barack Obama to convene a further meeting this Saturday is a sign that the U.S. president does not want to wait until the deadline of August 2 to reach an agreement. "We have more time in front of us," he said.
Recalling that Wall Street opened Monday, the president pointed to the impact on financial markets of such uncertainty. "Americans are outraged" by the inability of Congress to act, he said.This willingness to find a solution is also shared by the Republican camp, in which counsel highlighted the urgency of an agreement by Monday. What then leave both parties ten days to write a non-redundant legislation and get it validated by Congress.
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The invention of the "fast fashion"
Paste the request of client (e) s. This is the credo of Zara, which has built its entire organization around this obsession. "We can create a collection of four weeks, or two if the market demands," said Amancio Ortega regularly. Beyond the two traditional annual collections, Zara continually renewing its models. Its 200 stylists create up to 30,000 per year! The commercial headquarters in La Coruña are in constant contact with others in the field collecting impressions, tastes, consumer expectations and disappointments. Based on these criteria, the products are redesigned, improved, remanufactured … or abandoned.Another advantage is the constant renewal incentive for loyal customers to visit stores more often for the brand.
Logistics infallible
The stores take orders twice a week restocking and come the next day in small quantities. In Europe, everyone is supplied with less than 24 hours over 12 hours are needed for other destinations. To operate such a system, Inditex is a group of exceptionally integrated and centralized. 49% of the production is also performed "close" is in Spain, Portugal, Morocco. Asia weighs only 35% of production, although this share may grow with the expansion of the group.
Conquest International
Pablo Isla accelerated internationalization of the group in China with the opening of 120 stores in 42 cities, or in India, New Delhi, Bombay, Bangalore and Pune.Inditex has also identified its future target: South Africa and Latin America. The store openings are a key driver of growth of Zara. Another may soon be launching a brand of shoes and accessories.
Catch up on the Internet
Buy Zara.com is possible only since September 2010. Inditex then accuses a real behind the Web, it tries to fill at a rapid pace. Six countries initially, the online sale is now open in sixteen countries, based on those where the brand is already strong. September 7, Zara.com will build on its big debut in the U.S., then it will be the tour of Japan. Zara, whose reputation on the Web is already made, in light of its 9.7 million fans on Facebook, aims to achieve online sales of over EUR 1.5 billion annually.
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News of the World, the oldest and largest circulation newspaper the Sunday English, was released yesterday for the last time, after Rupert Murdoch's decision to close this very popular title, but plunged into the massive wiretapping scandal .
"It's 8.674e number, after 168 years proud," said Colin Myler Saturday night, the managing editor of the newspaper, brandishing the latest of a tabloid before the 280 employees who lost, like him, they job this weekend. "And in the best tradition of Fleet Street (old street newspapers in London), we now turn to the pub," he said.
For the latter days, the draw was doubled, 5 million copies instead of the usual 2.6 million, anticipating an influx of buyers for a very symbolic last issue, with headlines such as simple "Thank you and goodbye."The first and last pages were composed of a collage of the most famous one in recent years: revelations of sulfur on the private lives of stars, footballers, members of the royal family and politicians, and various high-profile scoops.
The sacrifice of Murdoch as the British press with the most -7.5 million readers every weekend, has caused a very strong emotion, leaving no one indifferent in the country.
"Toxic" assets
But for many media experts, the name News of the World, soiled by the illegal wiretapping of some journalists between 2002 and 2006, had become "toxic" to the group News Corporation Rupert Murdoch fast payday loan no faxing.The scandal falls at the worst time for the Australian media magnate, arrived in London yesterday: the group is seeking government permission to buy all the shares of BSkyB satellite television service, an operation of more than 9 billion euros .
Many opponents of the Murdoch group already call the closure of News of the World of operation "cynical." Sunday is expected to revive the title in a few weeks under a new name, probably Sun on Sunday for a Sunday edition of the other tabloid star Murdoch. According to Sky News, News International is seeking to find the person who last week bought several domain names, including thesunonsunday.co.uk.The editors of the Sun and News of the World were separated, but their editorial styles were similar, with pictures of naked girls, and a maximum of content devoted to celebrities and the number one sport in England, football.
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On the eve of closing the doors of the Salon du Bourget, a shadow could come tarnish the immense success of the European manufacturer Airbus at the time of high mass biannual aerospace. While the group has announced four days a new record of orders, with 72.2 billion worth of contracts garnered the announcement by China of a possible blockage of a contract for $ 3.8 billion ( 2.7 billion euros) for 10 A380 looks like a grain of sand from the well-oiled machine seize up.
At least, that understands the Financial Times on Saturday. Echoing the words of sources familiar with the matter, the newspaper said that Beijing had threatened "to undermine a deal worth billions of dollars for 10 Airbus super jumbos" in protest against the decision of the European Commission to include air transport system in the trading of CO2.This measure is to buy permits for each tonne of carbon emitted dioxin in European airspace, beyond a certain threshold. The Asian company Hong Kong Airlines was the official control of very large aircraft at the Paris Air Show. But the hardening of the Chinese position facing the European measure prevents the conclusion of the agreement, according to sources.
This disagreement does not allow to increase to 12 orders for A380 harvested at Le Bourget. Thursday, Airbus had reported a firm order for 10 A380, from an unidentified customer. According to one industry source, this command corresponds to that of Hong Kong Airlines. The counter for very large aircraft will remain blocked for the moment 2.
The case could also be amplified in the coming months. "These are not the only contracts held hostage by the Chinese.One on the A380 could be only the first, "explains the paper citing its source. Because the European manufacturer has other current contracts with the Middle Kingdom. Meanwhile, the Airbus management is counting on a visit to Berlin next week Chinese Prime Minister Wen Jiabao, to unblock the situation and conclude the contract.
"No plan B '
Beyond this contentious spot, the tour in Europe, China (Wen Jiabao arrived here Friday in Hungary, a country holding the rotating presidency of the European Union) should be an opportunity to address the underlying problem of quotas. A delicate matter, the European Commissioner for Climate Action, Connie Hedegaard has formally ruled out that the Chinese retaliatory measures have any impact on the measure, scheduled to take effect next January. "There is no plan B. Our position is very clear.We would not amend, "she said.
Faced with this inflexibility, Tom Enders, the boss of Airbus, for its part called on Europe to be flexible, saying the "madness of attracting reprisals" from a player as influential as the China. For the latter, comply with the requirements of the EU would entail, for the Chinese airlines, a surcharge of $ 126 million in 2012, according to data from the China Air Transport Association (CATA). This figure set to rise in coming years, when China's increasing its flights to Europe. In his struggle, China is also supported by the United States.
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War is everyday, but at the end of the year you are doing the accounts … For eight years, the winner is Airbus, both in terms of shipments of orders at the expense of its rival Boeing. And every two years at Paris Air Show, the manufacturer makes Toulouse a point to increase the ads. Behind these record sales of a European officiating … American John Leahy. Who was responsible for marketing a small American manufacturer, Piper Aircraft, before becoming sales manager of Airbus North America in 1985 and Airbus in 1994. Here, in this country that looked very carefully built the planes in Toulouse, as Leahy made his debut and had his first successes, as with Northwest, he has persuaded to buy ten A320s and take an option on 90 others.One way to make him test this device.
"Persistence pays," he said today as he presides over the destinies of commercial Airbus for over seventeen years. In his office in Blagnac, the excitement as we approach the show is palpable and the boss's schedule is constantly changing.
Whenever the negotiations that lay ahead endure short, its secretariat change his schedule because John Leahy taking and never give an answer to everything. Hence the rumor that the staff of Boeing starts each week by asking, "Where is Leahy today?" The character is but little known in France as it is attached to Toulouse, where he moved with his wife and children, carefully taking away from the Parisian establishment."I'm not the boss of Air France or Renault, so I do not need that." This also allowed him to cross safely multiple turbulence in the management of Airbus. While recognizing today have been in an awkward position in 2006, when the great Franco-Prussian War at Airbus. Its longevity is admired Richard Branson, the Virgin boss, that Leahy had convinced to be equipped with Airbus business cards design. "If there were so few portraits of me is that I do not spend any time. To make a presentation of my products, I can run the world, not for an interview. Same problem with the French language, he admits.I could never bring myself because my days are busy. "
"The indefatigable American", as it is called in Toulouse
It is not impunity commercial director of Airbus, especially in an area where, for historical choice, English is the working language. This does not prevent Leahy to have a real commitment to our country. "France is an extraordinary country, he said, smiling. No other country has as many talk shows parade where specialists of all kinds. And I know of no other country where you can stay three hours at the table to talk about politics and culture. But it may be a good thing. Watch a plane, it's a mix of technology and aesthetics.Just shop around for a A380 to be amazed, as if before a masterpiece. "
When, in 1994, Jean Pierson, the symbolic head of Airbus, Leahy proposed to moving to Toulouse, the problem arose from an international school for their children. "They had six, 10 and 12 years and did not speak French, recalls John. Since then, Airbus has remedied the problem by creating one of the best schools are, thus facilitating the arrival in Toulouse of executives around the world. "
Up at dawn, some exercises just to keep an online endangered by the many business meals which his position involves and direction Blagnac driving his Mercedes hybrid. In his office, his two secretaries teams take turns. It is at the heart of Airbus strategy, where they prepare all purchase contracts.It is here mounted power the European manufacturer, which has managed in three decades to become the world's leading manufacturer of civil aircraft, ahead of rival Boeing.
The report is severe. A little more than three years after the law on public service employment, followed by the opening to the public in January 2009 employment center of the merger Assedic and ANPE, the Economic, Social and Environmental (EESC) provides an uncompromising assessment of the first two years of employment center.
The Assembly shall consider in particular still "very inadequate" coaching job seekers. "This reform has not yet produced the expected results," says the draft opinion to be discussed Tuesday and Wednesday by all members of the EESC."The mission of support for job seekers remains woefully inadequate and service companies could still be improved," says the document notes that the "small part" of jobs collected from businesses (around 17%).
But especially the draft opinion pins a system that "appears less effective" in Germany and the UK particularly in terms of re-employment of the unemployed. A number of commitments are not kept or displayed "inappropriate" as the period of four months between the registration of an applicant for employment center and the first follow-up interview monthly custom, the document said.
Unfinished
The authors acknowledge the context of "unfavorable" in which the work is reached "substantial" merger of ANPE and operational network of unemployment insurance, with the sharp deterioration in employment and a sharp rise in applicants .But they believe that the restructuring was "unprepared" and remains "incomplete." They also note that no impact has occurred prior to the reform, "designed as a potential source of savings" of management and, consequently, additional means for tracking job seekers. In fact, "the reorganization of networks" has even been "generating additional costs, including increased costs of operating real estate until 2015.
Limit the number of file per advisor
Among its 22 recommendations to "strengthen the public employment service", the notice calls for "significantly limit the size of the portfolio advisers of employment center" to further customize the service to applicants, to accentuate training provision and improve service for compensation.
For this, we must "increase the means of employment center," while "the disengagement of the state is undermining (its) fiscal autonomy" and "restoring governance, with more weight to the social partners. Users are not the only ones taken into account: the EESC also considers the difficulties caused by the reform for the personal employment center, including recommending to watch over the "psychosocial risk agents" and to reflect on the evolution of business.
(With AFP)
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