The conditions of access to work in France harden for foreigners. The government on Friday, via a decree in the Official Journal, the new list of professions "in tension" open to foreigners. Co-signed by the Ministries of Labour and Interior, the list was reduced to fourteen families of occupations accessible to non-EU nationals against thirty previously.
The list, created in January 2008, was to open the French labor market to foreigners to fill staff shortages in certain sectors. Today, more than half of these jobs are no longer considered "in tension". In other words, it is not as difficult to find candidates for these jobs on the labor market hexagonal.
The new list excludes primarily the building trades and public works (BTP) and information technology.Go, among others, site managers and foremen as well as computer experts or study. The order, however, still mentions the need to appeal to foreign labor in the manufacture of wooden furniture and glass processing. The trades of carpentry will indeed take advantage of this opportunity in terms of recruitment, because the shortage of skilled labor is still very important. The e-consultancy and telesales, especially shunned by job seekers French, are also turned outward. Even if the division by two of this list is intended to reduce labor migration, it is not the only means of obtaining a work permit in France. Agreements exist with countries outside the European Union.The United States, Canada, Morocco, Tunisia or Senegal, are seeing their nationals allowed to apply for hundreds of jobs in France.
Train job seekers
Trade unions and the opposition reacted strongly to its publication on Friday. They keep in memory the promises made last April by Xavier Bertrand, who said he wanted to "train job seekers for these positions" in order to respond to high unemployment. Shortly before the publication of the order, the PS national secretary for Employment, Alain Vidal, had pressed the point home. This measure is "the straw target of legal immigration to forget the ocean of mass unemployment."He said that "legal immigration is now only 20,000 people a year, while France has 4 million people registered at employment center," The CGT and CFDT, in turn, complain of not having been integrated in the development of the list and a simple return them by mail has been requested. Raymond Chauveau, coordinator of the CGT, is too restrictive and it is estimated that the state will not provide effective response to unemployment. "Despite the crisis, jobs in the construction industry have not diminished," he says before stating that legal immigration is necessary both in the labor market than to contain illegal immigration.Although it is not against to train job seekers to fill vacancies, he believes that "in some areas, working conditions are too hard and the wages too low to the French there engage. "
ALSO READ:
"Occupation: reduce immigration, false trail for experts
"The needs of the French economy in terms of legal immigration
"In Germany, immigration to the rescue of demography
"Our damage is the result of the positions of a political party over another," said David Beers of Standard & Poor's. It is in fact the political impasse that is degraded.
The agency draws conclusions from long weeks of fruitless discussions between the White House and Republicans in Congress on the issue of public debt. It punishes the agreement therefore insufficient on 2100 billion dollars in savings over ten years voted last week on Capitol Hill.
S & P expected, like others, agreed two times more ambitious and also noted the dangerous precedent set by the threat of default artificial Treasury for lack of voting in time for raising the ceiling of the debt.
Republican intransigence in this political struggle partly explains the lack of compromise.The Conservatives' refusal to consider any tax increase prevented Barack Obama to make concessions in terms of reducing social spending. As far the President has not operated to best deal with Republicans and finds himself in some way "degraded".
The Republican campaign already denounced the "president who has ruined America by driving up the debt of 40% and lose its" AAA "rating."
Imprisoned at Camp David for the weekend, Barack Obama has not even commented on the news. His approval rating fell from 40 to 42% last week, the lowest of his term.Beyond the trust, which is increasingly lacking, its scope is more narrow.
The prestige of America severely affected
While growth slows dangerously, it seems short of ammunition to boost growth because public debt is too high for a fiscal stimulus. The President has not found the words to restore confidence and prevent Wall Street dive. He can not expect miracles from the Federal Reserve, which already maintains zero interest rates since December 2008. At best, it is hoped that the falling dollar boosts exports and saves the United States of a new recession.
Finally, with this degradation of Standard & Poor's is the very image and prestige of the first power of the world that are severely affected.To the point that China, with over one trillion U.S. debt is now ready to teach economics at the American Barack Obama.
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.
ALSO READ:
"Debt – Obama speaks of progress
"Debt in the U.S. – to plan B
The U.S. equity markets remain in negative territory at the beginning of the week. On Monday, the Dow Jones lost 0.23% to 11.977 points in early trade. The Nasdaq was down 0.21% to 2611 points and the S & P loose 0.23% to 1269 points. Wall Street had already finished the session on a mixed note Friday.
Despite a new rescue plan for Greece launched last night by finance ministers in Europe, U.S. markets are still worried, as their counterparts in Europe and especially Paris.
After the reassuring words of Heads of State French and German unit, which posted a welcome Friday, the firm tone adopted by the ministers at the weekend said that the issue will be very long to resolve.The central bankers in the eurozone have defined the conditions of payment of a further tranche of loans in July, but the finance ministers of the euro area indicate that the release of the loan must be accompanied by the vote of a new plan of austerity and privatization by the Greek Parliament. Banks and other private creditors and participate in this new plan. However the contours of the latter remain to be defined.
In the wake of renewed tensions, the euro falls against the dollar. To 11 hours in Paris, the single European currency was worth 1.4232 dollars against 1.4301 dollars on Friday night. In addition, oil continues to fall sharply, quoting under $ 92 in New York.
On the macroeconomic front, the week promises to be charged. Members of the Monetary Policy Committee of the Fed will meet this week.The release will be issued Wednesday evening and Fed Chairman Ben Bernanke will give a press conference after the meeting. Aurel BGC experts anticipate little change in the FOMC statement. They argue that the Fed chairman should emphasize the temporary nature of the slowdown and reject any idea of a new program of quantitative easing easy payday loans. Other highlights of the week, investors will monitor the number of housing sales in the old tomorrow and in the nine Thursday. Then Friday, they will learn the durable goods orders. The latter will benefit from a rebound in transportation orders, thanks to Boeing.
Boeing in the viewfinder
All eyes will be turned to precisely the Paris Air Show, which opens Monday. Boeing launches new version of its popular 747 jetliner, highly anticipated.In an interview with Le Figaro, Jim Albaugh, CEO of Boeing Commercial Aviation (-0.42% to 73.85 dollars) believes "it takes 30% of the world to survive over time."This morning, the airline Qatar Airways has placed an order with Boeing for six long-haul 777-300 ER for $ 1.7 billion (list price).
The Supreme Court of the United States halted Monday the complaint historic partnership of more than one and a half million employees and former employees of U.S. giant WalMart Distribution (1.06% to 53.38 U.S. dollars) wage discrimination.
NYSE Euronext (-0.06% to 33.32 dollars) announced Monday in a statement the actual launch on July 11 of the first platform for bond trading companies in Europe, the project has given the green light of the Financial Markets Authority (AMF).
The side of values, General Electric (-0.48% to 18.40 dollars) has reached an agreement in principle of the two largest unions of the company for new contracts."The four-year contract will enable advances on wages, pensions and job security. "
For his part, PetSmart (0.74% to 43.71 dollars) will increase its quarterly dividend to 0.14 dollar per share against dollar before 0125. The board also authorized a share buyback program of $ 450 million.
It's like income a year and a half ago. At the time, Renault intends to build its Clio IV in Turkey and not on the site Flins in the Yvelines. The government had to intervene and finally get the direction the car is partly built in France.
Will history repeat itself with PSA that intends to close its factory in Aulnay-sous-Bois (Seine-Saint-Denis) and Sevelnord (North). Except that unlike Renault's 30% owned by the state, the manufacturer, a lion is a 100% private. The scope of government is much smaller.
"These companies are accountable to the nation"
The State is taking this matter very seriously.If the Minister of Industry, Eric Besson, who met Thursday evening PSA CEO, Philippe Varin, said he was "reassured" by the commitments made by the carmaker, Prime Minister Francois Fillon, the move to guérande (Loire-Atlantique), did not hesitate to call the toll paid by the state to help a struggling sector during the economic crisis. At the time, PSA and Renault had received three billion euros each. "Given the large amount of aid made to the French car industry by the government, I would not and would not understand that these companies are not beholden to the nation that has helped easy payday loans." The Prime Minister will also have the opportunity to discuss this news with Philippe Varin on Saturday, as both men find themselves in the 24 Hours of Le Mans.
The Socialist Party (PS) is however not reassured."I do not have much confidence in his statements (Philippe Varin), says the spokesman of the Socialist Party, Benoît Hamon. Because we see a real transhumance migration of automotive production facilities and their equipment from the west to the east of Europe. " For its part, the Socialist mayor of Aulnay-sous-Bois, Gerard Segura, is confident that "until 2016, when production of the C3 should end in this factory. The industrial director of PSA, Denis Martin, had said Thursday that "industrial, it is absolutely impossible to give a guarantee on a sustainable medium and long terms. We have visibility into our roadmap to a year or 18 months. It is an absolute maximum, "he concludes. No doubt the state will seek to convince SAP to reconsider its plans.
On Thursday morning, the Paris Bourse continued its-shy-rebound, as Asian markets. The Cac 40, which ended yesterday evening in a small increase remains in effect in the green in early trade (+0.13% to 3933.92 points) while China is flying to the rescue of the euro area by purchasing securities Debt issued by the IMF for Portugal. The improvement is mainly due to the upward revision of growth forecast in the U.S. and the euro area by the OECD yesterday.
While the G8 summit opens today in Deauville, speculation will go well on the nomination of Christine Lagarde to the IMF management.Moreover, for Greece, the German Finance Minister Wolfgang Schäuble said that Europeans had "not exhausted scenarios to support" the country, and found that debt restructuring has "significant risk."
Meanwhile, this Thursday, we follow the important economic figures:
• The French consumer confidence picked up slightly in May thanks to a receding fears of unemployment and inflation, shows Thursday monthly survey by INSEE. The composite indicator of consumer confidence is up one point to 84. Seventeen analysts and economists surveyed by Reuters on average expected a figure unchanged from April 83.
• Same time, figures on real estate in Paris and Ile-de-France in the first quarter, volumes and prices, and the prospects of Notaries of France were unveiled: the existing housing in Paris had reached an average the 8000 euros in the second quarter.
• In the U.S., at 14.30, we expect the deuxème estimate of GDP in the first quarter, and the traditional weekly claims for unemployment benefits.
On the currency front, after an air hole which brought him under the $ 1.40 yesterday, the euro and takes up 0.67% to 1.4177 dollars on Thursday morning at 8 o'clock.Oil, he, also incorporates height and handles more than $ 100 in New York.
Pierre et Vacances: heavy loss
Eurazeo (-6.09% to 53.55 euros) sign the heaviest decline beyond Paris stock exchange after its decision to increase its share capital.
Side companies, the real estate and leisure Pierre et Vacances Thursday posted an increased loss of 16.8% in first half of its fiscal year offset, dug by the extra costs to plan for business transformation, and anticipates growth in turnover in the second half.
France Telecom (+0.25% to 15.75 euros) and Canal + have given up the movie channels merge Orange (France Telecom) and TPS Star (Canal +) in a joint venture, La Tribune reported Thursday.
Saint-Gobain (0.67% to 44.49 euros) and its shareholder Wendel (1.25% to 83.23 euros) set the framework for their relations for 10 years.Wendel will not exceed 21.5% of the capital of Saint-Gobain.
According to the Financial Times, banks and hedge fund with Societe Generale (0.43% to 42.28 euros) leader, reportedly sold financial products to 3.5 billion euros in the Libyan sovereign fund that led to heavy losses, estimated by 30%.
Five candidates whose French Axa (1.27% to 14.75 euros) and CNP (0.65% to 13.88 euros) are still competing to buy Emeklilik-Deniz, the Turkish subsidiary of the insurance Franco-Belgian banking group Dexia (, said Thursday the newspaper Les Echos without citing its sources.
A major shareholders manager nursing homes Korian (+0.42% at 16.75 euros), the holding Batipart family Ruggieri, took 9.5% of the rival group Medica (2.69 % to 15.25 euros) for an undisclosed sum.
NYSE Euronext, a target of a takeover offer of 10.2 billion Deutsche Börse, is hoping to draw on its platform listing more Chinese groups this year in 2010, told Reuters quotes the head of international The transatlantic exchange operator.
LDC (+0.34% at 73.75 euros), the poultry producer, reported Wednesday a 24% decline in net profit for its fiscal year 2010/2011, to 47.8 million euros, penalized by higher raw material prices and restructuring costs. The company said it expects more than 100 million of capital expenditure in 2011-2012.
Vergnet (0.43% to 4.70 euros). The manufacturer's shareholders approved Wednesday the wind coming from the Strategic Investment Fund (ISF) and the Breton group Nass & Wind capital of the company.The ISP and Nass & Wind, specializing in the production of green electricity, announced in mid-April their plans to invest 18 million euros in Vergnet.
Faurecia, Capgemini, Natixis and Legrand hold their general meeting Thursday. Derichebourg publish its results for the second quarter after market close.
The quarterly earnings season has apparently started quite well yesterday, the U.S., with Alcoa aluminum companies. The group has, in fact, released Monday after the close of U.S. markets, with net income of $ 308 million for the first quarter. Good news, considering that Alcoa was still in the red rain a year earlier.
But good news that will perhaps, at the same time, struggling to convince: the benefit is displayed just above expectations. The disappointment is more candid side sales: sales, to 5.96 billion dollars instead of 6.07 expected, disappointing.The action, which fell on Monday evening from 3.32% to 17.18 dollars in electronic trading after closing, will oversee this Tuesday …
On Tuesday, shortly before opening, the U.S. stock markets were approached down: the index futures Standard & Poor's 500 and Nasdaq 100 retreated 0.59% respectively at 1311.80 points from 0.62% to 2293 , 75 points. The Dow Jones was expected to decline by 0.50% to 12,259 points.
Monday, already cautious Wall Street had ended before the start of the season results. The Dow Jones finished almost unchanged, while the Nasdaq 100 had sold 0.32%. S & P Equity Strategy announced the degradation of the overall tech sector from "overweight" to "weigh".
Trade balance and budget figures
At the macroeconomic agenda of Tuesday, prices for import and export in March will be announced at 14:30.Meanwhile, the trade balance will be communicated in February. It should be negative, is -44 billion, according to a consensus of analysts. It will then wait until 20:00 to learn about the U.S. budget figures for March.
According to analysts at Aurel BGC, "the deficit of the U.S. trade balance is expected to decline slightly over the month of February payday loan lenders. Certainly, higher oil prices is unfavorable for the balance of energy balance. But the volume of oil imports should be in sharp decline. The more "price effects" will be broadly neutral over the month, exports will also benefit from the surge in export prices of agricultural goods (+ 1.9% on the month).Boeing deliveries remain sustained, exports are expected to remain very dynamic. "
While investors and traders remained cautious in anticipation of these indicators, the euro was stable against the dollar on Tuesday. Shortly before the opening of Wall Street, the euro bought 1.4457 dollars.
Fastenal Co. reports earnings before tomorrow JP Morgan
As for the publications of corporate earnings for the first quarter, they will continue this week, on both sides of the Atlantic after Alcoa, have, among others, the figures for the first quarter of JPMorgan, which will be known soon Wednesday (13:00), ahead of Accenture, Google, and Hasbro, all three on the agenda for Thursday. Bank of America and Mattel will follow on Friday.
Meanwhile, Fastenal Co, one of the largest U.S. distribution of industrial equipment and construction, will present its first quarter figures on Tuesday.The title clinching 0.25%, to $ 67.50 the day before closing.
In addition, Intel will launch new microprocessors that consume less electricity, could respond to this strategic announcement on the Stock Exchange.
Amazon, for its part announced Monday a further decline in the price of its Kindle electronic reading light at 114 dollars against 139 dollars so far. This new model will post advertising via various backgrounds, but also a whole series of promotions made from the home page. Delivery scheduled May 3 in the United States.
Unemployment in the eurozone has reached down to below 10% in February, a first for over a year. It amounted to 9.9%, against 10% in January (revised upwards by 0.1 percentage point from the first estimate), according to Eurostat. The unemployment rate in all 27 countries of the European Union amounted to 9.5% in February, against 9.6% in January.
"One point does not make a trend, tempers Frédérique Cerisier, economist at BNP Paribas. For several months we see a stabilization in unemployment in the eurozone, and we can only hope that the decline begins in the first six months of 2011. "In February, the resilience of employment in Germany, which decreased 6.5% to 6.3%, pulled down unemployment in the area.
The number of unemployed in the euro area amounted to 15.7 million in February, down 77,000 from the previous month."The unemployment rate the lowest were recorded in the Netherlands (4.3%), Luxembourg (4.5%) and Austria (4.8%) and highest in Spain (20.5 %) ", said Eurostat.
ALSO READ:
"Germany: less than 3 million unemployed
The Nikkei index of Tokyo Stock Exchange ended the session on Wednesday a drop of 2.43%, a plunge of 261.65 points. The index tracks the 225 stars of Japan and ended at 10,492.38 points. The broader Topix index of all titles of the first painting sold for its 20.83 points (-2.16%) to close at 942.87 points.
Investors fear that higher oil prices due to events in the Middle East, particularly in Libya, has a negative impact on the financial situation of enterprises and household consumption. Witness to this concern, the gold, which reached a new historic peak, to 1435 dollars.
The strength of the yen against the dollar also worried shareholders groups Japanese exporters. The greenback stood Wednesday around the 82 yen.Opportunistic sales also likely accentuated the downward trend, noted dealers quick guaranteed personal loans.
Scholarships in India and Bangladesh in the green
Same trend in other countries in the Asia-acific: the Hang Seng in Hong Kong was down 1.77% to 22,983.38 points in Shanghai, the CSI fold from 0.71% to 3231.69 points. Singapore's Straits Times declined 0.85% to 3041.47 points.
Only exchanges in India and Bangladesh are spared of the game In Mumbai, the BSE climbing 3.5% to 18,446.50 points.To recap, India announced Monday an increase of nearly 12% of its annual budget to defense, in a context where the country is engaged in an extensive program to modernize its armed forces, and up 17% the budget devoted to social expenditures for the year 2011-2012.
At Drac, the FSD is flying from 7.66% to 5601.60 points, while heavy snowfall has plagued the index for several weeks.
Better than an official statement, an absence confirmed on Friday the Berlin waving speculation since Wednesday. The head of the Bundesbank, Axel Weber, was omitted from the Economic and Financial Advisory Franco-German gathering in Berlin, the German finance minister, Wolfgang Schäuble and his French counterpart, Christine Lagarde.
Since announcing his candidacy to the surprise withdrawal of the European Central Bank (ECB), which has overtaken Angela Merkel, the media do not broadcast in unison more than a single image: that of a man sweating big drops … As if the events of recent days had revealed a personality nerves too fragile to guide the euro out of the storm.
Axel Weber was called on Friday afternoon at another appointment, at the Chancellery in the presence of the Minister of Finance. It was for the Chancellor to push him toward the exit as quickly as possible.The president of the German central bank will leave office April 30, for "personal reasons". "His successor will be announced during next week," says a statement from the Chancellor very dry, which contains no shorthand praising the work of the President of the Bundesbank.
Jens Weidmann, 42, economic adviser to the Chancellor, who defends, as Weber, a monetary policy ultrarigoureuse, is the favorite to succeed him as "Buba".
Weber announced Tuesday night at his colleagues in the Executive Board of the Bundesbank, he renounced his ambitions to the ECB.He lamented a lack of clear support from the Chancellor in recent months, while his candidacy aroused opposition from several countries including France because of its monetary conservatism.
Liberals pledge to
For Berlin, put this former professor of economics at the helm of the ECB, was to guarantee the stability of the euro and thank you without a fight against inflation, which remains for the Germans absolute evil since the Great Depression of 1923. Within the coalition government, the appointment of Weber allowed to give pledges to liberal FDP and temper their opposition to an enlargement of the European financial stabilization (FESF). Now, Merkel may be forced to be even more intransigent on the issue of deficits to satisfy his allies in the FDP."This is a severe blow to Angela Merkel and a disavowal with respect to its European policy, has accused the leader of the opposition Social Democrats in the Bundestag, Frank-Walter Steinmeier.
Merkel now finds itself extremely impoverished. "Germany has little money makers with the right profile" to take the reins of the ECB, the daily economic Handelsblat t. The name of Klaus Regling, president of FESF, is often cited, but he has no experience of central banking. He's chief economist Juergen Stark also the ECB, but his candidacy would raise legal problems because he is a member of the Executive Board of the ECB.Friday, at the end of the economic council, Schäuble said that Berlin had never insisted that there be a German candidate for the presidency of the ECB …
Berlin could be forced to support the president of the Central Bank of Luxembourg, Yves Mersch, or the Bank of Finland, Erkki Liikanen, to bar the way to the Italian, Mario Draghi, a former Goldman Sachs. For his part, Weber saw that the media already succeeding Joseph Ackermann, the head of Deutsche Bank, could be forced to review its ambitions. The tenors of the CDU and FDP "advise" the biggest German private bank hiring Weber, considered "unstable."For its part, the opposition called for a "waiting period" of three years before the former president of the central bank can take the direction of a private bank that was responsible for overseeing.
ALSO READ:
"A multitude of candidates to become guardian of the euro
