A work of art? A scupture? A monument? Attraction? Orbit wants it all at once. Red steel tower rising slowly in the sky Olympic Park East London thanks to the play of the cranes that circumvent the laws of gravity and set pieces that weigh less than 2.5 tonnes each. The London Olympics, which begin July 27, 2012, wanted their icon. It is made of red steel. That's at the Universal Exhibition in Paris in 1889 as the Eiffel Tower was built …
Nestled between the Olympic Stadium and the swimming pool, the work designed by Anish Kapoor, a British artist of Indian origin, will be the symbol of the London Games. The artist, whose recent work Monumenta at the Grand Palais in Paris, has conquered the public, could build this new project with Lakshmi Mittal, the chairman of ArcelorMittal.The steel giant from an original way and in the circle of second-tier sponsors of the Olympic and Paralympic Games. Cost of the adventure: 16 million pounds (about 18 million euros) for Arcelor Mittal, London, adding 3 million pounds.
A unique perspective
On site, a dozen people work to build, despite the often strong wind blowing from the Thames estuary, the giant Meccano imposes no engineer would have imagined. The sculpture, made of red tubular steel elements, already stands at over 80 meters high and it must reach 115 meters. It will weigh 1,400 tons. When everything is finished, an elevator will climb onto a platform boldly eccentric.The energetic can go down via a silver staircase winding around the tower.
The tower would house a restaurant and she will, when the Games are over, a unique perspective on the new district of east London that is emerging today. As the streets that Jack the Ripper haunted past are still among the poorest in London. The Olympics will enable a large-scale urban renewal. New life for London's East End which is the symbol of steel.
ALSO READ:
"VIDEO – The construction of the tower Orbit
"In a year of opening, the London Olympics are their show
"London, the center of the world, is preparing for the next Olympic Games
The New York Stock Exchange opened Friday at equilibrium in a market cautious before the release of economic indicators closely watched in the United States: the Dow Jones nibbled 0.02% and the Nasdaq 0.06%.
The day before, now, Wall Street had closed on an open rise, encouraged in this direction by the Chicago PMI – and the relief felt on both sides of the Atlantic after the second vote in Parliament in Greece. Voting allows the application of the austerity plan as expected, and the release of 12 billion euros in aid to Athens.However, the agreement of the Eurogroup surl second aid plan, expected this weekend, take a little longer than expected, according to diplomatic sources.
U.S. Policy and Debt
Another current, more American and more uncertain, however, could be followed by operators, mindful of the political context, while U.S. debt back on the front of the stage: the Secretary of the Treasury of the United States Timothy Geithner, in fact, consider soon resign from his post. Information reported yesterday by the Bloomberg financial news agency and other U.S. media, but qualified this morning.
Consumption, construction and industrial activity
In terms of macroeconomic indicators, the first session of July will be charged at least: from 3:55 p.m. will be provided the figures for consumer confidence, ahead of construction spending (16:00).At the same time will be announced on PMI manufacturing (ISM), and the indicator of prices paid. It will however wait until 23 hours to see the statistics of car sales unsecured personal loans.
$ 4.5 billion for Nortel patents
On the corporate side, the maker of BlackBerry phones Research In Motion (RIM), leaving 0.07% after the announcement yesterday of an agreement avoiding, at the General Meeting of July 12, the vote of a motion challenging the operation of its management. Turbulent in recent times, the action RIM has tumbled almost 41% in one year, closing at 28.85 dollars Thursday on the Nasdaq, while the S & P 500 gained at the same time 28.55%.
Apple, Research in Motion and Microsoft, however, are part of a group of six companies that got their hands on the latest patents of the telecoms equipment maker Nortel.The acquisition represents $ 4.5 billion (3.10 billion euros), after an auction that has ruled Google and Intel.
EMC Corp., and Sony Ericsson are the other members of the winning consortium, Nortel said in a statement released Thursday night. Telecommunications giant to the Internet bubble burst, Nortel filed for bankruptcy in January 2009 and has since liquidated most of its assets, raising about $ 3.2 billion.
In any other industry, General Mills (-0.83% to 139.42 dollars) announced Friday the completion of the acquisition of half of the yogurt maker Yoplait, which he was the franchise in the United States. General Mills bought for about $ 1.2 billion (830 million), with the investment fund PAI Partners and the cooperative Sodiaal, 51% stake in Yoplait SAS and 50% of the entity holding world Yoplait brands.
The CAC 40, which is ironed Thursday to above 4000 points, failed to show a third straight session of gains. At the close, the CAC 40 index shows a sharp decline of 0.92% to 3990, 85 points. aaccentué market downturn after his decision known to the rating agency Fitch lowered the rating by three notches from Greece.
For the week, the CAC declined slightly by 0.70%.
Ala London Stock Exchange, the FTSE-100 ended with a slight decline of 0.14%, while the Stock Exchange Frankfurt, the Dax 30 shrank more sharply by 1.26%.
On the macroeconomic front, the deficit of the balance of current accounts in the euro zone rose to 4.7 billion euros in March, against 6.5 billion euros in February, according to preliminary figures released Friday Bank European Central Bank (ECB).
The euro continues to rise
This fragile economic environment in the United States enjoys the euro continues to rise, albeit less strongly in mid-session, against the dollar. In one week, the single currency rose to 1.4272 dollars from 1.41 dollars.
In midday trading, a barrel of oil, light sweet crude for June delivery gained 0.65% to 99.57 dollars.
Siemens will pay 648 million euros Areva
Sanofi-Aventis: -1.28% to 54.04 euros
The anti-arrhythmic Multaq group Sanofi, marketed in France since October 2010 and currently reimbursed at 65%, is threatened with delisting, but the final decision remains subject to such a hearing of the laboratory, according to La Tribune.
Areva: 1.59% to 30.63 euros
Areva must be "within fifteen days" a check for 648 million euros from Siemens, according to an arbitration Thursday by the International Chamber of Commerce. The group with the Executive Board is chaired by Anne Lauvergeon accused the German group for its commitment with the Russian Rosatom even before he uttered his divorce with the joint venture Areva NP.
GDF Suez: -1.19% to 26.09 euros
On the corporate side, an employee of GDF Suez made a suicide attempt on May 14, immolation by fire.The framework of management information systems from Lyon is currently in critical condition.
Vallourec: -1.13% to 86.91 euros
Bollore sold two thirds of its stake (3.5%) in Vallourec for 275 million, pocketing a profit of 141 million euros.
PPR: +0.25% to 121.85 euros
PPR "take the time necessary" to make acquisitions and divestitures, "said CEO Francois-Henri Pinault, during the group's general assembly yesterday.He added that the luxury group still holds 42% stake in CAM after its IPO in late 2009.
Suez Environment: -0.32% to 15.37 euros
Suez Environment has confirmed its objectives for 2011, an increase of more than 5% of turnover and over 10% of gross operating income.
Biomerieux: 2.33% to 77.38 euros
Biomerieux will acquire the control specialist microbiological industry AES Laboratoire for 183 million euros. Under the strategic plan 2015, BioMerieux is an annual organic growth in sales of 7 to 9% on average.
Pierre & Vacances: 1.55% to 54.36 euros
Pierre & Vacances buys 50% of managers of tourist residences Citéa a subsidiary of Nexity. The transaction amount was not disclosed should be finalized in late June
It is hardly imaginable that Dominique Strauus-Kahn to head the International Monetary Fund from a cell in New York. The IMF board would meet Monday in Washington to discuss the implications of the continued imprisonment of its CEO. Already begun thinking about potential candidates to succeed DSK has become urgent, despite the reluctance of European countries worried about the prospect of losing their privilege to appoint the head of the institution.
During the last hours of the Fund releases were terse. What is important for the international organization was initially to understand that it remained fully operational, although its chief executive is temporarily absent from Washington (which happens often).The IMF chief functions are in fact fully assumed as always by his first deputy, John Lipsky.
"We keep our full confidence in the IMF," the spokesman commented yesterday of Barack Obama. The members of "staff" IMF questioned mainly on how the head of the IMF would handle his legal defense while remaining fully operational as "MD" (pronounced M Di), ie as Director General.
The credibility of the IMF
Once past the feeling of amazement at the sordid nature of the charges against their bosses, executives of the IMF think in rational terms: "The IMF can work short term in serenity," said a frame. Lipsky did not perhaps not the political stature of DSK, especially against the highest authorities of the euro area, but he is clever, experienced, respected and may well fly the plane.But we must now find a successor to DSK.
And already many names circulating as potential candidates to succeed the boss destabilized but still far from being condemned direct payday lenders. Most of them are ministers or former ministers and central bankers of emerging economies. They are convinced that the time has come to recognize their virtues and their economic success. Tharman Shanmugaratnam, Singapore's Finance Minister, Trevor Manuel, who held the same position in South Africa, or Kemal Dervis, a former Turkish counterpart, are cited. It is further necessary that the industrialized countries agree. For Europeans who are originally from one of their own to head the IMF, these options are painful.
Mario Draghi not interested in the position at the IMF
"There are good reasons to have a European candidate ready to assume the number one position in the IMF, but emerging countries may also be eligible for the medium term" recognized Angela Merkel, in no hurry to sell this strategic role for young country strong growth.
The question for Europeans is as it was a matter of prestige. In their eyes, especially a European one would best guarantee of greater benevolence of the IMF in respect of serious problems in the euro area. "This is no time for discussion of who will replace Dominique Strauss-Kahn" says her German Chancellor. It is hard to believe this assertion.Already Italy's Mario Draghi, who became a big favorite for the presidency of the ECB is "not at all interested" to eventually succeed Dominique Strauss-Kahn to head the IMF, said on Monday A spokeswoman for Bank of Italy.
ALSO READ:
"
ALSO READ:
"SPECIAL – Matter DSK
The resignation Monday of Patrick Pelata, deputy CEO of Renault, has not put an end to the crisis triggered last January 3 by the unfounded dismissal of three executives of the manufacturer for a false espionage. Some observers fear that his departure will have consequences in the functioning of the enterprise. "Without the controls Patrick Pelata, Renault's strategic plan in February could be disrupted or postponed for six months to a year," judge and Florent Couvreur, analyst at CM-CIC Securities. He is not alone in worrying: Tuesday, Renault shares fell 3.17%, 2.21% after the previous day.
In the labor movement, the reactions are negative, especially before the absolution granted to Carlos Ghosn, CEO of Diamond brand. "When you're number one, we must assume.To Mr. Ghosn to decide, "said Jean-Claude Mailly, secretary general of the Workers Force. Same story on the side of employers: "There are times when we are many entrepreneurs do not recognize ourselves in the behavior of some of them", for its part, said Laurence Parisot, President Medef to without naming the president of Renault.
Patrick Pelata will manage the Japanese crisis
The criticism of Carlos Ghosn has more weight than the boss of Renault was widely exposed, especially from log 20 hours of TF1 to assert that the evidence involving the three executives were "multiplesJe urges me to laugh at everything for fear of being obliged to weep."
Logically, the audit report commissioned to understand how this case could take up so much steam highlights the role of Patrick Pelata payday loans.Yet some point out, the two other steering committee members involved – the Christian Legal Director and Secretary General Husson Laurence Dors – depended Carlos Ghosn, and not his right arm. Even as the Chief Operating Officer oversaw, directly or indirectly, 18 of the 24 members of the steering committee.
The departure of four key leaders of Renault (counting Michel Balthazar, one of the executives who unjustly blamed not return to the company) will necessarily be difficult to manage operationally. Especially as replacements will not happen quickly. "Patrick Pelata will remain in office for another few weeks.There is a crisis to manage because of the disaster in Japan and he'll manage, "said a spokesman for the manufacturer.
The financial implications are however easier to absorb, even if they are not negligible. The four victims of the case managers (the three laid off January 3 and he fired in late 2009) will be compensated, even if two of them go back into the business. In total, these benefits are expected to cost around 8 million euros to Renault. However, an amount that will be covered by bonuses and stock options which have given Carlos Ghosn, Patrick Pelata and all officers implicated by name in the audit.
ALSO READ:
Patrick Pelata, the dolphin sacrificed
"The State has always formed shareholder Carlos Ghosn
"The false espionage affair cost $ 11 million to Renault
The iPad is beginning to overshadow the PCs. According to a survey * conducted by AdMob, the mobile advertising from Google, about three-quarters (77%) of owners say touch pads use their computers less often than before. And 28% say that this new device is already becoming their main engine, replacing the PC.
Much like a computer, and despite its small size, the touch pad is used in a very large majority (82%) at home rather than move. The peak occurs in the evenings and on weekdays. The touch pad, lit an average of more than one hour per day, serves primarily to play (84%), and then searching for information on the Internet (78%), consult your emails (74%), track News (61%) and connect to social networks (56%).
The PC still keeps a few restricted areas, including office automation.In the absence of keyboard and mouse, the touch pad is actually more appropriate for consultation and the creation of content. Recently, applications, photo editing (Photoshop Express) video editing (iMovie) and editing sounds (GarageBand) still trying to compete with the computer on new terrain.
The iPad head for long with applications
The survey of Google, which in theory includes all the touch pads without distinction, is in fact almost entirely on users iPad. The Apple tablet has represented over 80% of sales in 2010. It should still assume 68% of the market this year, according to projections by the research institute Gartner, then 47% in 2015.The iPad will outperform then tablets Android (38%) and BlackBerry (10%).
Precisely because of its wide range of applications that allow the iPad embrace most uses of PCs, Apple could manage to stay ahead of the market. "Many manufacturers make the same mistakes when they responded to the iPhone, with emphasis on hardware rather than on applications, services and user experience," Judge said in a statement Carolina Milanesi, analyst Gartner.
The rise of tablets should weigh this year on PC sales. Last month, Gartner has revised down its forecast for PC sales, which should grow 10% in 2011 against 16% previously expected.It will sell anyway still around 387 million PCs this year, against 70 million touch pads.
* This survey (see PDF) was conducted in March 1430 with AdMob human volunteers in the United States.
ALSO READ:
"The launch of the iPad 2 in France
"Touch Tablet: Google-cons attack
The unions had already brandished the threat late March. They have implemented, calling all employees hypermarket distribution group to strike on Saturday to protest against including salary increases for 2011, considered insufficient. The appeal, launched by the FGTA-FP, the majority union at Carrefour (with 40% representation), is supported by the CGT, CFDT and CGC.
In total, the 65,000 employees of the French distribution group are known not to work and show around the shops this Saturday, the day the traditional busy in hypermarkets. Early estimates labor, the movement is widely followed in more than 200 superstores supermarket group. Over thirty sites are completely blocked, workers blocking access to supermarkets.Even when they are not blocked, the strike rate range from 30% to 85% as estimated by Dejan Terglav, general secretary of the FO-FGTA reported in the AFP. When contacted, the management of Carrefour has not confirmed those numbers, always carrying an inventory of mobilization, and ensuring that all supermarkets were open.
From yesterday, union officials expected a high rate of mobilization of employees in a group unaccustomed to large-scale social movements. An impression confirmed Saturday morning. "It's a movement that looks quite memorable. It is widely followed, "said Franck Gaulin, Steward central CGT. Jean-Claude Mailly, secretary general of the Workers' Force (FOR), came to support the movement this morning on the website of Le Mans, on strike for 80%. "People want a redistribution within companies.When companies are unwilling to do that, there is a strike, "said union leader, also claims that" a device to make compulsory the transport allowance in all enterprises. "
Insufficient wage increase
While management offers its employees a 1% increase in wages to March 1 and another 1% increase on 1 October, union officials estimate that these increases do not cover inflation announced by 2%. "It does in fact represents only 1% over the year," says a leaflet distributed by the FGTA-FO.Even the promise of recovery to 10% (against 7% previously) discounts on purchases of stores, and the announcement of the reopening of negotiations next Wednesday, will not suffice to bring back the union leaders on their decision.
Moreover, the malaise is becoming stronger on the side of employees on the deteriorating conditions of employment and new working methods since the arrival at the head of the group of Swedish Lars Olofsson, in January 2009.
Opposition to the plans of division
While President Nicolas Sarkozy on Thursday expressed its willingness to link salaries to dividends, the unions could ask for more support for their speeches.For beyond wage increases claimed, employees believe that the demerger proposal by listing the subsidiary Dia hard discount and the 25% of Carrefour Property land would bring six billion euros to the two main shareholders, Bernard Arnault and Colony Capital (14% stake and 20% of voting rights between them).
In the words of Dejan Terglav, secretary general of the FGTA-FO, reported in Les Echos this Friday, the organization also wants the Mutual Fund Business (CIPF) 'vote against the division (during the next meeting June 21 di ed.) CIPF owns approximately 1.33% of the shares but the double voting rights "said the union leader. Bringing to nearly 4% the number of shareholders opposed the project, with the fund Knight Vinke (more than 1% of capital).But for now insufficient to meet a third of votes needed to derail the project.
ALSO READ:
"Carrefour France faces the discontent of certain employees
"Carrefour is considering the future of his hard discount
"The new hub is delayed
»New turbulence surrounding the division of Carrefour
Neither starting rumors or Gaddafi talks of OPEC members (Organization of Petroleum Producing Countries) about a possible increase in production of black gold in the coming weeks have managed to fall fever markets.
After rising to 106.95 dollar Monday, its highest level since September 2008 and have lost up to $ 2 in Asia on the morning of Tuesday, a barrel of light crude was trading at 105.57 U.S. dollars the New York Mercantile Exchange, up 13 cents from the previous day.
A game of yo-yo that translates queries from operators, who do not know whether to believe or not the producing countries.Saudi Arabia, which said it could increase production by 700,000 barrels a day, finds that the offer is "very appropriate" market needs while Kuwait, the UAE and Nigeria to make talk 300,000 barrels / day extra.
These production increases are intended to compensate the Libyan supplies, which fell from 1.6 million to a million barrels per day since the crisis began. But for now, no member of OPEC does not speak officially for exceeding the quotas. "We are in consultation," merely states the Kuwaiti oil minister.
The representative of Iran, a country which chairs the cartel, however threw a famous cold snap in asserting that consumer fears are "psychological." He believes, like Qatar, inventories and production are "at an acceptable level."
For their part, the United States do nothing to calm things down when the Secretary General of the White House is suggesting, as he did last Sunday, it was conceivable that the country draws its strategic reserves. "There is no supply problem and would be a mistake" to do so, he has indirectly responded Tuesday CEO of Total, Christophe de Margerie, in Houston.
Inflationary pressures
But the business community fear that the violence in Libya and the Arab world will undermine the tentative economic recovery. "The picture is now darker for growth. We had long been considered a significant rise in oil prices in our forecasts, but their rapid and continuous gains begin to put us ill at ease, "recognize the analysts at Goldman Sachs.
They also fear a "day of anger" in Friday in Saudi Arabia that could lead to new unrest.
But they are aware that soaring crude prices, which rose from $ 86 to over 105 dollars in three weeks on the U.S. markets, is not unique in the Middle East. It also results from increased demand from large countries with strong growth such as China and India.
One more reason for the International Monetary Fund (IMF) has, after the European Central Bank, sounded the alarm about the increased risks of overheating in emerging markets. Rising oil prices there is indeed aggravate inflationary pressures.
After pressing, the balance sheet. It's late March, Xavier Bertrand, Minister of Labour, before the Council policy of working conditions (Coct) the contents of the 230 agreements signed by the psychosocial risks of over 1,300 companies with 1,000 employees unions; plus 230 action plans for prevention. A year ago, in full case France Telecom, the Ministry of Labour required these companies to act quickly on stress prevention. "Otherwise, they risked punishment unprecedented media coverage in France of the results of negotiation, says Philippe Douillet, project leader psychosocial risks to the National Agency for the Improvement of Working Conditions (NAALC). But it did not last long …. "
230 agreements
At that time, the list of good and bad students was remained on the website of the Department that the time for a short day, Feb. 18 … As to the 230 agreements, 90% of them the 'were in the 1 st half of 2010, under pressure from the ministry. "That said, this action resulted in a genuine process of negotiation," said Philippe Douillet.
Cited as an example, the agreement with Danone assumes that "any proposed change of organization must assess human impacts, which involves asking the questions upstream," says Muriel Penicaud, CEO of the giant HR food. Signed in March 2010 with five unions, after two and a half years of work, it includes a strong preventive approach. This c omprend a training component of the local management, "a key element" for Muriel Penicaud.Co-author of the report "Well-being and efficiency", delivered in February 2010 the Prime Minister, she observes that things have since changed. "Many companies recognize that managerial decisions have an impact on stress, which was rarely the case a year ago." However, few are still those who registered stress in their "single document". Compulsory since 2005, this document is to identify and prevent such risks. "A complex approach on the part of psychosocial risks," says Valerie Decaux, HRD Saur (network management of drinking water, 10,000 employees in France) is currently finalizing the document."The challenge is to address the risks identified: lack of information, the ergonomic conditions, but also recognition of the work, a subjective element. "
Founder of the firm Artelle Council, specializing in the prevention of psychosocial risks, Haubold Bénédicte (1) estimates that companies are now clearly the link between psychosocial risk and economic performance: "We see where a shareholder, who sees his participation depreciate , appealed to us. "Microsoft France, has started negotiations with unions, has understood. For six months the company has embarked on a process well-being and performance ". "A fundamental approach to talent retention and attractiveness of the business," says HRD, Yves Grandmontagne, citing "employees happy and productive".Latest action: the establishment of an observatory of health from the 1400 group employees in France.
(1) "The Psychosocial, library Eyrolles, Editions d'Organisation
ALSO READ:
"Stress: good business practices
Ten solutions against stress at work
"Stress: how firms organize
Fimalac wants afford Accor Casinos. Accor, which still holds 49% share of Casino Lucien Barriere, came under discussion with the holding company Fimalac, announced the holding company and the giant hotel, confirming information Wansquare. "If the talks succeed, Fimalac inform the market with a new release," said the holding company of French businessman Marc Ladreit de Lacharriere.
Neither group has characterized these negotiations exclusive.
Accor thus remained in the process, begun there On several months of separating from its casinos Lucien Barriere. Last October, there was talk that the casino operator is introduced in Exchange, but Accor has canceled the operation less than 48 hours before the first quotations. Explanation: The lack of investor interest.The number one casino in France, also owns luxury hotels like Le Fouquet's in Paris, would indeed have been valued below the proposed price range (from 575 to 702,000,000 euros), which was too little for Accor.
Following this failure, the casino operator did not document-Accor maintained that all options were "reopened", including finding investors. However, management prefers Barrier IPO (IPO). This could suggest a new attempt in 2011.
A price around 550 million euros
According to our information, "it would seem reasonable that it is fastened below the price the IPO at around 550 million euros." Even if the purchase price is modest for Accor, "is clearly positive in terms of perception management," said one trader in Paris.
Fimalac, which include 60% owner of the rating agency Fitch, could then finance the acquisition entirely on equity, because it currently has net cash of 261 million euros.
In the 2009/2010 financial year ended September 30, Fimalac has reported a net profit of 30 million euros (+36.4%) for a turnover of 608.9 million euros ( +8.8%).
The group recently acquired the company Vega, French leader operating rooms dedicated to entertainment, sports and events and economic events. The company has notably orchestrated the return of Michel Polnareff in 2007 and is particularly associated with the operation of the Zenith of Rouen. He also holds 40% of Gilbert Coullier Productions, the leading French organization of shows for singers and comedians speaking.
Nothing works for casinos
The casino market has suffered tremendously, both from an economic crisis that has sealed the "entertainment budget" of the French and regulations become more stringent over time.