Washington announced Friday it had cleared the merger between United Airlines and Continental Airlines. The Department of Justice indicated that the two U.S. companies had responded to his objections to their merger, leaving a number of slots for landing and takeoff at Newark International Airport near New York.
Downstream Europe in July
United Airlines, the third American company, Continental Airlines and fourth, had announced in May their intention to merge under the single name of United. The European Union, the guardian of competition in Europe, had already given its approval to the transaction at the end of July. In a statement, Brussels stated that his investigation confirmed the complementarity of the two companies' networks for Transatlantic routes, since they operate hubs in different U.S. cities."So there will be a marginal increase in market share," concluded the European Union. But a refusal of the United States was to be feared, as authorities in 2001 vetoed a previous merger between United Airlines and U.S. Airways on the grounds that it would reduce competition in the transport sector to the detriment of the public.
Fusion 1 October
The U.S. Department said it had closed its investigation as a result of the merger between the two companies, which gives them the field libre.Dans a statement, the two companies said they expected to complete their reconciliation of by 1 October. By marrying, they hope to better withstand the difficulties faced by the industry today, including the rising cost of fuel and competition from low cost airlines.Together they serve 370 destinations in 59 countries, with a combined turnover of 29 billion dollars, a fleet of nearly 700 aircraft and about 87,000 employees worldwide.
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Thirty cents per share higher than what was proposed Hewlett-Packard. Dell renews its bid for 3PAR, with a proposal barely exceeds that of his rival, HP. After proposing $ 1.15 billion to buy the U.S. company data storage, Dell has had to increase its offer. Hewlett Packard had submitted a tender surprise on Monday of $ 1.6 billion, or $ 24 per share. Dell has proposed 30 cents more per share.
Takeover bid for all shares 3PAR
If the transaction has yet to receive regulatory approval, the computer maker said in a statement, however it should be finalized before the end of the year. "It should have a positive impact on our earnings before exceptional items from the fiscal year 2012, the company said.Dell now has until Sept. 20 to launch a public offer to acquire all the shares of 3PAR "through a subsidiary that owns 100%," says he needed no fax payday loans.
This acquisition will expand its range of storage products for the cloud computing (cloud computing via the Internet) and support its service activities. "With the acquisition of 3PAR, Dell will have the range of storage products for the broader market," said Dave Johnson, vice president of U.S. computer company, said in the statement. Data storage is the priority of our strategy.
3PAR does not wish to comment on this new offer, stating that it will "soon" on the subject.
Around 4:00 p.m., 3PAR lost 1.53% to 26.35 dollars, while Hewlett-Packard and Dell gained 0.42% respectively to 38.40% and 0.21 dollars to 11.81 dollars in a rising market 0.16%.
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Nothing like that to go talk with the best of the class to get some good ideas. On Tuesday, French Budget Minister Francois Baroin went to Berlin to meet Wolfgang Schäuble, the German finance minister, but Otto Fricke, a spokesman on budgetary matters of the FDP, the party with which the CDU and CSU have formed a coalition. Up for discussion: the prospects for public finances, the convergence of tax systems and the EU budget.
"A very good news for France"
To say that the budgetary comparison is not in favor of France. So that France should post a deficit in 2010 of 8% of GDP, Germany could be below the 4.5% forecast until now. The German public finances are benefiting from the strong economic recovery.For now, the government of Angela Merkel sticks to hard line: any additional revenue related to growth must not be redistributed as tax cuts, but must be used to reduce the deficit. "There is a consensus in German society about deficit reduction, welcomed Baroin.
One way to be disappointed that this is not the case in France, while the government has decided to be as strict on the surplus revenue? In any case, Baroin wished to emphasize that the dynamism of Germany "is also a very good news for France, because it is our first partner." But no question of imitating unrestrained economic model Germanic."We, we focused our policy on power purchase them on the productivity gains through wage moderation," said the Minister.
Despite their differences, both countries are working to converge their taxes. The site was launched in July by Nicolas Sarkozy, Wolfgang Schäuble when was attending a Council of Ministers in Paris. By late September, the Court of Auditors will issue a preliminary report on the subject. His conclusions will inspire action that will be incorporated when considering the draft budget law to Parliament.
Fight together against the tax leakage
Regarding the tax system, harmonization would be quite happy for the French since Germany has removed the ISF. "But we must see if it is relevant," temperate Baroin.Indeed, both governments are working primarily on other taxes: the ecological tax, VAT and corporation tax (IS). Paris and Berlin in particular want to fight together against the flight tax that allows the development of the Internet. The major manufacturing groups chose to localize their headquarters in a country of the Old Continent as low tax Ireland and arrange to channel all their European business.
In addition, French and German governments want to raise, at European level, the project to harmonize the basis of calculation of corporate tax (IS). Today, each country has different rules for determining taxable income, which confuses the issue.
Finally, Paris and Berlin will work hand in hand for the European budget does not slip.The Brussels Commission initially proposed that the budget of the European Union increased 4.9%. The European Council has succeeded in getting the increase is limited to 2.9%. To meet this objective, Baroin account in addition to the support of London.
"The goal at the end of 2013 is to reduce the number of 3950, which represents half of 8400 anticipated retirements over the period, plus a bonus of 250, responded to AFP chairman Michel Régereau (CFDT) this Thursday. But later in the day, the chairman of the board of directors of the National Health Insurance has refused to sign the project.
"There was a debate within the board and it appeared that the majority (of the 35 directors, ie) was negative (the text) but there was no vote" per se, explained to the AFP Carolina Ferrera, Director CGT.
It must be said that the pill is especially bitter for the staff unions of sickness, such as primary agents of funds or regional health insurance (CPAM, CRAM), have declined steadily for several years.
From 85,000 in 2003, they returned to 75,243 in 2009, according to the draft agreement on objectives and management (COG) which AFP has obtained a copy. Like all governments, the CNAM is subject to the rule of non-replacement of a staff of two. But already, Michel Régereau announced he would vote against.This could lead, if followed by his counsel on a "blocking" quite rare in the annals of Secur. "So far, the presidents of unions secu supported the compromise reached with the government and sought to obtain a majority," he said.
"Here, we can not"
According to Michel Régereau, the Fund had estimated it had saved 850 jobs, bringing the losses in 3350. But with nearly 4,000 positions eliminated, "then we can not.""Our network of primary funds is to be a challenge (…), it will be very hard for regional banks, they will retreat to their heart business, and our strategy to improve the efficiency of the health system will be lost, "he added.
For example, the Fund wishes to develop information to health professionals, improve the conditions of discharge from hospital for patients, and developing diabetes prevention, "he listed. "To develop these programs, we need means," he said.
Dilemma for unions
"It will be a catastrophe for both the personal to the insured, warned Caroline Ferreira, director CGT, considering the demands of the government" unacceptable. ""We are dealing with a government that is deaf" and "blindly applying the rule of RGPP," the General Review of public policy, "she accused.
Remains to be seen what the outcome of the vote of the board of directors, composed of 35 members (unions, employers, mutuality, qualified individuals, patients' associations, family associations and professions). If he had voted against the COG 2010-2013, "is the state that (would) hand to the application," said Carolyn Ferrera, and could possibly refer the matter to Parliament, according to Michel Régereau.
Dilemma for voting against unions because they would lose part of their role.
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Eurazeo, owner of the chain of budget hotels B & B wants to sell its stake of 73%, raises interest. Candidates have until Monday to surrender to submit their bids firm, a transaction that may occur in the wake.
For the moment, there are four candidates. According to our information, this investment fund Carlyle, Bridgepoint, LBO France and PAI Partners. Starwood Capital could be added to this list at the last minute. Eurazeo, which had taken control of B & B in 2005 to approximately 380 million euros, expects the deals financed at the top of the range between 450 and 500 million euros.
With 227 hotels (187 in France, 35 Germany, 4 in Italy and one in Poland), B & B is a turnover of 200 million euros this year.
"Splinter Cell Conviction," "Just Dance", "Assassin's Creed 2," "Avatar". These video games, real commercial success, Ubisoft has realized the first quarter of 2010-2011 above its own expectations. The video game publisher has announced on Monday, a turnover of 160 million euros against 145 million euros announced last May 18 at the annual results presentation. An increase of 93%.
In exchange, the news is very appreciated. The group titles are at the forefront of the SBF 120 since the opening of markets with an increase to the closing of 15.42% to 7.35 euros.
Forecast confirmed
Markets are also satisfied with the maintenance of annual targets credit report."The turnover of the second quarter of 2010-11 would be about 83 million euros, in line with the second quarter of 2009-10. The group confirms its previous comments regarding the 2010-11 biennium is the return to profitable growth and cash flow positive from operations, "said Ubisoft in a statement.
Side launch, the group put on another commercial success to come: the game "Driver". Previously scheduled for the third fiscal quarter, it should now come out in the fourth quarter.
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After a year and a half after its establishment by the Minister Herve Nvelli SMEs, the results of self-contractor status is not all rosy. Apparently, the new regime seems to be a success. Since January 1, 2009, more than 500,000 people have created businesses under this scheme and, according to the Observatory of self-contractor, 85% of self-enterprises are still in business a year and a half after the creation of statute. Another favorable factor among 15% of enterprises out of the scheme, 8% have changed their business to another company status. Moreover, the Observatory notes that "self-entrepreneurship is an effective springboard since nearly one third of respondents would like to change its status in the short or medium term."And the average turnover is 830 euros per month among the 72% self-entrepreneurs who have sold or charged.
But upon closer inspection, the new status raises questions. The study teaches us that nearly one in ten self-contractor was forced to choose this status. In fact, some employees have opted for this scheme to keep their jobs. The creation of these self-enterprises thus substitutes contracts in CSD, even in temporary or permanent contracts. And for good reason, the statute represents a financial windfall for unscrupulous employers because the employers' costs will disappear.
However Observatory moderates this conclusion. François Hurel author of the report requested by Secretary of State for SMEs says that "self-entrepreneurship as a condition of employment by dishonest employers is fortunately very rarely practiced in reality.It must also be tackled as illegal and contrary to the spirit of the regime.
The draft law reforming the consumer credit which was adopted in late April by the National Assembly must be considered in the Senate Monday on second reading. This text, which transposes into French law the European directive of 23 April 2008 aims to better encadrerla distribution of these credits, advertising and strengthens consumer information to avoid over-indebtedness. "This legislation, once passed, will provide a protective base for consumer credit," says Minister of Economy Christine Lagarde. guard, who hopes that the text be adopted as early as Monday, said her commitment to the Senate on a timetable for implementation "very accurate".
No less than 14 decrees and orders will be four needed for its implementation. Christine Lagarde, wants everyone to be published before the end of the year."I intend that all texts are published by the end of 2010 to ensure that all stakeholders are informed of the publication of texts and measures to implement," said the minister at a press conference. The entry into force of the texts will then be scheduled through May 2011.
Division on the register of credits
The minister promised to create, upon promulgation of the text, the Committee shall deliver foreshadowing, over the next 12 months, a report on the establishment of a national registry of credits, also called positive file. This file would identify all loans taken by the French and could be accessed for each request for new credit.Christine Lagarde has ensured that the committee was established following the enactment of the law shows that it is not "being in time to push for it (the positive file, ie) becomes the Arlesienne."
The principle of this file, however, continues to divide and most consumer groups will remain opposed, citing an infringement of individual liberties and the fear of use of information by credit institutions. .
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Both company executives selected from Essex on Wednesday in a Group plant in Macon, doomed for closure, have been released by the employees on the night of Friday to Saturday, after signing an agreement on the negotiations future.Following intense negotiations, repeatedly compromised, the Directorate General of Essex and employees reached late at night to an agreement through the prefecture and the elected council and regional council, on the central works council scheduled for Monday.
The site's director, Olivier Dalicieux, and human resources director, Alain Thomas, came out in silence around 4:30 am, in the presence of forty persons, after more than sixty hours selected in this stage factory son of copper.
Under this agreement, management committed to "embark on the plan to safeguard employment starting April 19 from the bases of negotiation developed by CGT elected.The CGT calls in particular extra-legal compensation of 30,000 euros net for all employees, plus 2,000 euros net per year of service for employees with more than four years of service, capped at 100,000 euros net. In a previous statement, the proposed management bonuses of up to 32,000 euros gross.
"We'll have to break the deadlock"
On Friday, the direction of Essex, owned by South Korean LS Cable, had nine delegates assigned interim staff for evacuation of the site, indicating a hardening of the conflict after a failed mediation attempt in the departmental Labour payday loan no faxing.In the evening, the High Court of Macon had refused assistance from police, believing that management did not provide Essex proof of occupancy or sequestration of its leaders.
"The evidence of obvious disturbance to public order is not established," said the court, ordering the company to also pay the sum of 500 euros in court costs. The decision was greeted with shouts of joy from the employees on the plant site, while management expected a third night of sequestration."We should get out of this impasse," said the lawyer employees, Ms. Beatrice Saggio, calling on leaders to "show more flexibility".
The CGT elected Essex have criticized the Minister of Industry, Christian Estrosi, who said he was "deeply shocked by the behavior of a small minority of employees that holds hostage," the two frameworks: they found "quicker to condemn employees and their representatives to deal with this issue of concern which he has received since November 2009." Since the announcement in late March the closure of the plant which employs 86 people, employees feel that the conservation plan for employment (PSE) has proposed "unsatisfactory".
The U.S. stock markets have recently experienced six consecutive weeks of gains, taking a breather. The Dow Jones opened down 0.07% and the Nasdaq 100 0.11%.
On Monday, the Dow Jones gleaned 0.08% to increase the threshold highly symbolic 11 000 points for the first time since September 2008.
On the foreign exchange market, the euro continues to strengthen against the dollar, after surging the day before with the announcement of details of the rescue plan for Greece. In early afternoon, the European currency was worth 1.3614 dollars against 1.3585 dollars in morning.
Wave of publications this week
On the macroeconomic front, the U.S. trade deficit widened in February to 39.70 billion dollars.The next week will be marked by several important indicators such as the index of consumer prices, retail sales for the month of March, industrial production, housing starts and the first estimate of the confidence index, Reuters Michigan. The markets will also follow the hearing of Ben Bernanke, chairman of the Federal Reserve, the Congressional Joint Economic Committee on Wednesday and will monitor closely developments in the case of the Greek debt.
The week will also be crucial for the U.S. markets with the opening ball of the quarterly results. As usual, the aluminum giant Alcoa, which gave the start of the season publications, Monday after the market closes. The U.S. producer of aluminum remained in the red in the first quarter, however, divided more than double its loss a year.Alcoa recorded a net loss after minority interests of 201 million over the first three months of the year, against a deficit of $ 497 million a year earlier.
Today, the computer chip manufacturer Intel to follow. The next week will be hosted by quarterly results from Google, General Electric still banks JPMorgan Chase & Co.
Always on the side of values, yesterday, the U.S. oil group ConocoPhillips has announced the sale of its Chinese Sinopec stake in Canadian oil sands project Syncrude for $ 4.65 billion (3.42 billion euros) . This is one of the largest investments ever made by China in North America.
The manufacturer of PDAs and mobile phones Palm, would seek a buyer.Bloomberg said the investment bank Goldman Sachs and Qatalyst Partners were commissioned to find a buyer to the manufacturer of smartphones in serious financial trouble. Action Palm and jumped over 17% Monday to the New York Stock Exchange.