Otis, Crossroads Market, Carrard Services … These three companies have one thing in common: they face these days in a strike of their employees who claim to be better working conditions or wage increases, sometimes both. How original you might say, to see employees' strike "because they are dissatisfied? Not much except that the term "strike" was historically a very different meaning.
The word "strike" originated on the "Place de Greve," the name given to the middle of the twelfth century to the scope in front of City Hall of Paris. It was a beach of sand and gravel which stows the goods (wood, wheat, hay, wine …) arrived by the Seine and ended up where, each morning at dawn, workers without work seeking employers for the day.This "Place de Grève" was then a scholarship to work and place of employment for the unemployed. In short, an employment center before time …
This concentration of workers who were not working but looking for a job … was called "strikers." Hence the emergence then of "strike" which means "look for a job." A sense diametrically opposite to that of today …
The good news on growth, announced Thursday night by François Fillon and Christine Lagarde, has been confirmed on Friday morning. The business grew by 1% over the first three months of the year, INSEE said on Friday. This figure far exceeds expectations, provides a growth of about 2% over the year, according to government projections.
"To temper the enthusiasm," says Jean-Paul Betbèze, head of research at Credit Agricole, "the second quarter will be lower with the repercussions of rising oil prices." Soaring gasoline prices could indeed stopping the household budget, which would reduce their consumption accordingly. And the good first quarter figures hide some reasons to remain cautious for the remainder of the year.
The French consume more
Household consumption accelerated slightly, to +0.6% against +0.4% in the last three months of 2010.Positive: Spending on services rebounded sharply (+0.7% -0.1%). On the other hand, "the consumption of manufactured goods remained strong (+0.8% after +0.9%), despite the slowdown in auto purchases," notes INSEE. Downside: Some consumer spending due to the recent effects of scrapping. In addition, "household investment declined (-0.3%) which tends to give credence to the theory of a cold snap in the housing market," said Alexander Law, chief economist at Xerfi.
Plants accelerate the pace
Industrial production has accelerated markedly (+1.6% after +0.3%). Positive: "Manufacturing is the largest of the last thirty years" (+3.4% after +0.7%), INSEE said.Downside: This excellent figure is explained in large part by a catch-up effect that will not happen again in the coming months, namely "the rebound in production of refined products, after the social movements at the end of last year" ( +24.7% -17.6% after), says the National Institute of Statistics.
Investment recovery
One positive growth in business investment has more than doubled, from 0.5% at end 2010 to 1.1% in early 2011. Leave government investment also increased (+1%, after -1.4%). Downside: It is, as regards public investment, a catch-up effect, with the revival of construction sites encumbered by bad weather in late 2010.From the public side, "while corporate loans are modest, the resumption of investment suggests a deterioration of the financial capacity of companies," Natixis analysis.
Growth Stocks
Replenishment of stocks by enterprises: it has contributed 70% growth, down 0.3 points after the end of 2010. One positive trend should continue in the coming months, according to economists at BNP Paribas. Negative point: The reconstitution of stocks by companies, boosting imports, widening the trade deficit French.
Foreign trade still lags behind
Positive: exports have accelerated (+1.4% after +0.3%). Downside: Imports grew even faster in value (+2.7% after -0.7%) due to higher oil bill in France due to soaring prices.Result, "the trade balance deteriorates and contributes 0.4 points to changes in activity (after +0.3 point), according to Insee.
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The International Monetary Fund (IMF) wants cautious. While the Portuguese prime minister resigned, Jose Socrates, said Tuesday night that sealed a "good agreement" with the delegations of the European Union and the International Monetary Fund, the international organization said that the opposition has yet to agree .
In fact, using 78 billion over three years granted by the tandem European Union and IMF is not without consideration. In exchange for this support, the EU and the IMF require an "adjustment program" consisting of austerity measures "ambitious" and structural reforms involving the major parties beyond the next parliamentary elections of June 5 The agreement with the current Prime Minister has resigned is not enough. It will be supported by the main opposition parties.A spokesman for the IMF confirmed yesterday it had signed a technical agreement with the Portuguese government on a comprehensive economic agenda also said: "We said from the beginning that it is important that any program can receive a broader support of parties and we will continue our discussions with opposition parties to achieve it. "
Portuguese Prime Minister had announced earlier in the evening the conclusion of an agreement to support a $ 78 billion over three years. José Socrates had indicated that his country is committed to gradually reduce the deficit to 5.9% of GDP this year, 4.5% in 2012 and 3% in 2013. Portugal had previously committed to reduce its deficit to 4.6% this year to 3% in 2012 and 2% in 2013. The imbalance of Portuguese public accounts in 2010 amounted to 9.1% of GDP, well beyond the target of 7.3% from the government.But he said he could not reveal "a lot of details" on measures that Portugal will commit to implement in exchange for this budget, because they must still be "consultation "with opposition parties.
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The CAC 40 continues on the path of this increase jeudi.Les early trade on start up from 0.68% to 4095.42 points. As in Asia, Paris markets in turn react positively to the long-awaited announcement of the Fed on U.S. rates. The latter decided to pousuivre monetary policy accommodative for a prolonged period. Following these findings, Wall Street has ended sharply higher on Wednesday and the Nasdaq hit its highest level in ten years.
On other European markets, the upward trend is also valid. The London Stock Exchange has opened up 0.32% to 6087.6 points. For its part, the DAX index of the Frankfurt Stock Exchange gained 0.62% to 7450.57 points.
But investors remain wary.Several key statistics are expected across the Atlantic on Thursday, beginning with the first estimate of first quarter GDP and weekly jobless claims (1430). The promises of sales in March are also expected (16 hours). The ball quarterly publications will also be given to: Procter & Gamble, Microsoft, Expedia and Colgate Palmolive are scheduled.
Side currency, the euro climbed sharply against the dollar since the Fed announcement. The single currency traded 1.4862 dollar. On oil markets, a barrel of light sweet crude for June delivery gained 61 cents to 113.37 dollars while that of Brent North Sea also June delivery increased 62 cents to 125.75 dollars.
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As for French companies, investors will also have enough to do:
Saffron: 3.80% to 24.99 euros (largest increase in the SBF 120)
The group announced on Thursday a rise in its quarterly revenue exceeding its target for the year, driven by activities of aerial and optronics, and reaffirmed its forecast for 2011 and its confidence for the following years.
Eramet: 0.43% to 270.45 euros
The mining group has achieved a turnover of 973 million euros in the first quarter, up 23%, thanks to increases of 35% nickel and 30% in alloys.Its operating income should be at least semi-equal to the corresponding period of 2010 excluding special items, after a surge in sales in the first quarter.
Gemalto: -0.37% to 34.93 euros
World number one smart card noted in the first quarter up 17% of its sales to 444 million euros a year, driven by its main activities. It confirms its outlook for fiscal 2011.
Technip: -2.65% to 74.81 euros
The specialist oil and gas equipment announced better than expected margins in the first quarter and confirmed its overall outlook for 2011. He always aims for this year a turnover of approximately 6,500 to 6.7 billion euros against 6.082 billion in 2010.
Sanofi-Aventis: +0.15% to 53.34 euros
The group released on Thursday quarterly earnings affected by competition from generics, but slightly better than expected and announced that its annual results would be reviewed during the semester. In late March, the turnover came out down 1.5% to 7.78 billion euros, generics that cost him 569 million euros in turnover over the first quarter of 2010.
Suez Environnement: 3.15% to 15.39 euros (largest increase in the ACC)
The group has published performance increase in the first quarter thanks to strong growth internationally, and has confirmed all its targets for the period 2011-2013.The turnover reached 3.514 billion euros in the first quarter, registering an increase of 14.3% (+13.5% at constant exchange rates), while EBITDA was $ 592 million, an increase of 28.6% (+25.6% at constant exchange rates).
Imerys: -0.32% to 52.50 euros
The group announced on Thursday a net improvement in its quarterly results, benefiting in particular the improvement of the construction market in France, said he expected an improvement in its performance throughout the year. Imerys has improved its operating margin by 1.9 points to 13.2% and increased its turnover by 13.7% at constant exchange rates to 882.7 million euros in the first quarter.
PPR: 1.94% to 120.75 euros
The group saw sales jump 26% in luxury in the first quarter, boosted by a dynamic Asian still as powerful and a brilliant performance in the United States.
Gameloft: 4.80% to 4.80 euros
The group announced a 20% growth of its turnover in the first quarter of 2011 to 39,500,000 euros. The company anticipates a year again growing at its turnover and profitability.
NextRadioTV: 0.32% to 15.70 euros
The media group has announced a turnover up 14% to 35 million euros, 15.7 million (+15%) for its flagship radio and 10.2 million for its TV division (+25%) . He announces "positive outlook for the first half of 2011."
Technicolor: -2.10% to 5.12 euros
The group announced on Thursday a rise of 15.4% of its turnover to 812 million euros in first quarter (+16.2% at constant exchange rates) and confirmed its targets 2011.
Always on the side of publications, after market, Saint-Gobain, Sechilienne-Sidec, Crit and Vinci will unveil their turnover in the first quarter.Compagnie des Alpes will unveil its second quarter revenues. The results of the first quarter of Sequana, Saft, and Bongrain are also expected.
Eurotunnel, Danone and Plastic Omnium will hold their general meetings respectively 10:15, 14:30 and 17 hours.
Ipsos confirms its objectives
Ingenico: -0.23% to 32.72 euros
The group raised its growth target for 2011. It is now targeting sales at constant scope and exchange rates, greater than or equal to 985 million euros, while it had announced a target located between 965 and 985 million euros.
Ipsos: 0.33% to 35.48 euros
The group confirmed its targets for 2011 after recording an increase of 6.2% of its turnover in the first quarter despite the continuing fall in the market for public education in Britain.
Klépierre: -0.39% to 27.04 euros
The group announced a slight increase in rents in the first quarter, thanks to its shopping centers, despite a slowdown in consumption in Europe.
Unibail-Rodamco: 0.97% to 156.56 euros
The group has appointed Christophe Cuvillier, former CEO of FNAC and Conforama, the Executive Group property as "General Manager Operations."He replaces Michel Dessolain, board member since 2007, appointed Director General of the strategy.
New field for Total
Total: 0.85% to 42.95 euros
The oil discovered in south-eastern Bolivia a major gas field that could initially produce up to 6.5 million m3 per day.
Bioalliance Pharma: 1.49% to 6.14 euros
The group has announced an expansion in Germany and Spain for its Phase II clinical trial of clonidine Lauriad in patients with cancer of the head and neck.
The CFE-CGC does not disarm. The plant managers could not veto the recent agreement on supplementary pensions, failing to persuade two other unions. So she decided to sue or riders to the 1947 Convention establishing Agirc, which translate this agreement or the ministerial orders that will extend (the process would then proceed to the State Council).
The CFE-CGC is indeed very bad agreement for executives. It denies such a cap on family benefits (1000 euro annual "bonus" of up to three children), while contributions are not capped. According to the CFE-CGC, this device violates the founding convention of 1947.
The union sees this text signed by all social partners at the time exceed the following agreements, as the Constitution is above the law.If the court confirmed this analysis, the impact on the future of supplemental plans are uncertain. The CFE-CGC think we should negotiate a new agreement.
It is ultimately the American General Mills will acquire Yoplait. Reportedly, the U.S. group will take 51% stake in the dairy group valuing it at 1.6 billion euros.
Several groups including Chinese, Mexican, Japanese, Dutch cooperative as well as Swiss and American giants have become interested in the sale of the participation of the investment fund PAI (50%) in Yoplait. COPERS Sodiaal also sells 1% of its share s and remains a shareholder at 49%.
Yoplait is the second global brand behind Danone fresh dairy products. Launched in 1965, thirty-six years after Danone, a brand created by the cooperative Sodima, ancestor of Sodiaal, succeeded his breakthrough on the French market, at once aggressive and commercial innovations. First brand to launch in cardboard containers, Yoplait yogurt invented the fruit and yogurt drink.
While the country remains on alert this morning after a second explosion at the nuclear power plant in Fukushima Daiichi, the Bank of Japan (BoJ) to take exceptional measures to counter the effects of the disaster in the economic and financial systems. The BoJ has in effect this morning to three injections of cash for a total of 15,000 billion yen, 131.2 billion euros. In addition, Market Watch, which cites the Japanese news agency Kyodo said that 3000 billion yen will be invested Extra on Wednesday. In addition, the central bank plans to buy 10 billion yen (870 million euros) of assets and corporate bonds. The institution hopes to support markets.
His intervention had immediate effect on the yen, which fell abruptly when he was mounted in the early morning.The Nikkei index of Tokyo Stock Exchange plummeted finished him sitting on a decline of 6.18%. The volume of transactions reached a historic high on Monday to the Tokyo Stock Exchange, with over 4.88 billion shares traded on the primary market, representing more than 2.5 times the average normal. The Tokyo Stock Exchange has nevertheless been valuable to rate.
Automotive and nuclear values fall
The share of the company Tokyo Electric Power (TEPCO), which operates nuclear plants in trouble, was particularly affected, it lost 23.57%, all holders of securities rushing to sell. The values are also among the automotive titles most penalized Mitsubishi Motors plunged 10.9% to 8.1% and Toyota. Indeed, many Japanese companies are facing serious damage on their production sites.Honda, Nissan, Toyota, Sony, Mitsubishi Motors, Suzuki, Panasonic or Toshiba have suspended their activity in one or more plants.
As for oil prices, they are on the downside on Monday in electronic trading in Asia. A barrel of Brent WTI lost nearly 2% to less than 100 dollars a barrel. The market is worried about a decline in short-term demand from Japan due to the drop in production.
The reduction of production capacity is compounded by shortages of electricity, or the closure of ports. And the idling of the country further increase the bill for the disaster. Even if the destruction of the earthquake and resulting tsunami that struck Japan on Friday remain difficult to assess, AIR Worldwide, a specialist in risk assessment, advanced at a cost of $ 34.6 billion to insurance companies.And the total score could be higher than the $ 100 billion of the Kobe earthquake in 1995, said Valerie Plagnol, director of research at Credit Suisse France, micro BFM.
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Deprived of power in Egypt, Hosni Mubarak could soon be as his property. Barely half an hour after the announcement of the resignation of the Pharaoh, or at 17:30 on Friday, the Swiss government announced it was blocking all funds that may belong to the Egyptian president and his family in Switzerland. The Federal Council has issued an order to that effect asking the Swiss banks to search for and freeze the assets of the clan Mubarak. According to the Swiss National Bank in late 2009, the Egyptian deposits on accounts in Switzerland reached 3.6 billion Swiss francs (2.27 billion euros).
"President Hosni Mubarak has resigned today after weeks of mass protests. The Federal Council took note of this evolving situation, "it said in the text.The assets of Mubarak and his entourage were blocked with "immediate effect" and the order is "valid for three years," says the Federal Council. "In addition, the sale and disposal of assets – including property – belonging to such persons are prohibited. The Federal Council intends to take all necessary measures to prevent any possible misuse of public funds. "
Between 40 and 70 billion
According to experts cited in the Middle East by the British newspaper Guardian, the Mubarak family fortune is estimated at between 40 and 70 billion dollars (29.5 and 51.7 billion euros). It would be divided as such: $ 15 billion for Hosni Mubarak, one billion to his wife Suzanne, eight billion for his eldest son, Alaa, and 17 billion for his second son, Gamal. By comparison, the couple's Ben Ali is estimated at five billion dollars, as ranked by Forbes magazine.And that of the richest man in the United States, Bill Gates, to 54 billion.
The Algerian newspaper Al Khabarprécise his side much of the wealth of Mubarak would be deposited in banks or invested in real estate. The Mubarak family would own and outside of Egypt, properties in the United States, Great Britain (whose son and mother hold the nationality), France, Switzerland, Germany, Spain and Dubai . Finally, two son, Gamal and Alaa created and taken stakes in many companies in Europe and the United States.
(With agencies)
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The tense situation in Egypt did not create panic among French tourists. The Association of Tour Operators (Ceto), tourists visiting Cairo aside, "there are no returns anticipated at this stage but returns natural." Even if all members of the association four to twenty companies have proposed to organize the repatriation. "I got the phone number of tour operators who are willing to make decisions quickly to ensure return," said President of the Union of Travel Agents (SNAV), George Colson. Club Mediterranee announced in particular have chartered a special flight Monday from Taba and took seats on scheduled flights from Luxor to Hurghada and enable its customers to anticipate their return. Thomas Cook meanwhile, decided to keep two aircraft on hand to deal with any possible emergency repatriation.According to figures from Ceto, 6500 French tourists were on Saturday on Egyptian soil. On Monday, they were more than 2000, mostly concentrated in cities along the Red Sea, where the situation is calm, according to tour operators.
Reports or trade
Also apply all of the precautions and have suspended all new departures until Wednesday, February 3 inclusive. Until Friday, February 5 for Fram. "Customers concerned may defer travel free at a later date on Egypt or any other programmed destination and current conditions of the tour operator," Ceto said. "We apply the same measures of compensation for customers unable to go to Egypt for those who could not travel to Tunisia payday loans direct lenders.They can choose to delay their departure until October 31, 2011, or opt for another of our destinations knowing that we will refund the price difference if any, "says one in Marama. To date from 2000 to 3000 the tour operator customers have decided to change their travel, particularly those with holiday dates are not flexible.
New destinations for next summer
Planners, the French also anticipate their summer holidays. Tunisia and Egypt every year, attracting over one million visitors hex. A tourist trade which are beginning to benefit from other countries, too sunny, and offering similar prices. France and the Riviera residing too dear, three destinations have won a great success. "We have seen bookings for Spain increased by 50% and those for Greece and Turkey to grow by 30%," enthuses Marmara.The tour operator said that "the French take it very early this year to book because they fear a run on these destinations and consequently higher prices." He said the desertion of Egypt and Tunisia should nevertheless be short-lived: "When will reopen these destinations, tourists depart. You do not forget the pyramids for any other destination. "
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U.S. stock markets close an up Thursday. The Dow Jones gained 0.36% to 11,499.20 points, the S & P 500 rose 0.62% to 1242.87 points and the Nasdaq ahead by 0.77% to 2637.31 points.
On the foreign exchange market, the euro regained some ground against the dollar on Thursday after a successful bond issue in Spain. In the evening, the euro bought 1.3211 dollars against 1.33240 dollars the night before.Earlier, the European currency fell to $ 1.32 after the rating agency Moody's said Wednesday to consider lowering the rating of Spain, replacing the budgetary difficulties of the euro area in the foreground on the eve Summit of the European Union.
Decline in jobless claims, rising housing starts
On the macroeconomic front, the housing starts in the U.S. rebounded more than expected in November, 3.9% from the previous month, while building permits issued by the authorities declined by 4.0% , according to official figures released Thursday in Washington.
The borrowing of the U.S. economy has increased further during the summer, as evidenced by the 3.2% current account deficit of the United States, which reached 127.2 billion dollars in the third quarter.
New jobless claims fell in the United States during the week ended Dec. 11, to 420,000, according to figures released Thursday by the Labor Department in Washington, close to their lowest level in 2010.
Sign of a slight lull on the front real estate, foreclosures in the U.S. fell in November to their lowest level in a year and a half but their number on the first eleven months of the year already exceeds the record of 2009, according to the survey firm specializing RealtyTrac released Thursday.These seizures reached nearly 67,500 units in November, up 28% from October, and 12% from a year earlier, said RealtyTrac, which publishes its monthly survey on procedures for entering the U.S. since January 2005.
The index of business conditions from the Federal Reserve of Philadelphia has emerged Thursday in net increase in December and exceeded expectations cash advance no faxing. It falls to 24.3 against 22.5 in November. Economists polled by Reuters were waiting at 15.
Also note, the United States and China signed agreements in Washington on Wednesday for further liberalizing trade in certain economic sectors, and China took the opportunity to ask the Americans to drop their controls on their exports.The two countries concluded at the end of the 21st session of the Joint Commission on Commerce and Trade (JCCT) a series of sectoral agreements in agriculture, technology or access to public contracts.
Bank of America stock market climbs
The side of values, the U.S. government first filed a complaint against BP (-0.25% to $ 43.75), whose stock is listed on Wall Street, that the liability of the oil is established in the worst oil spill in the history of the United States, and to refund billions of dollars. BP said it would cooperate with all investigations of the authorities and respond timely to the government's charges.The oil group has already provisioned in its books a total of 40 billion dollars to cover all expenses related to the spill.
Also note, the U.S. bank Bank of America (2.93% to 12.65 dollars) said on Wednesday extended indefinitely talks with a law firm representing a group of investors demanded redemption of securities backed mortgage loans by the financial institution.Among the complainants were the investment fund Pimco, Blackrock fund, agency mortgage refinancing Freddie Mac, the insurer Met Life and the New York branch of the central bank (Fed) through its special vehicle Investment Maiden Lane.
Always on the side of values, the maker of semiconductor Broadcom (-0.05% to 44.27 dollars) has announced that its sales for the fourth quarter would be at the top of its target range (approximately 1.9 billion), it nevertheless reduced its forecast for gross margin.