Nicolas Sarkozy has raised the question of how we can more directly Wednesday in his opening speech at the Davos Forum: what is "the role to be played by banks in the economy?" He should get an initial response today ' hui. The bosses of big banks, mainly American and European, will meet with key leaders of the global financial regulation to settle their quarrels.
"The first challenge is to define what should be the basic name of a bank, has publicly acknowledged on Friday Peter Sands, group CEO of Standard Chartered Bank UK, who also co-chairing the Forum 2010, alongside a colleague European Josef Ackermann, head of Deutsche Bank. The meeting will be informal: to probe the kidneys and hearts of some central bankers and regulators in Davos.Including Jean-Claude Trichet, the ECB president, Mario Draghi, Chairman Financial Stability (a creation of the G20), Jaime Caruana, director general of the Bank for International Settlements, Dominique Strauss-Kahn, director IMF, but also representatives of emerging countries, as Zhu Min, vice governor of the People's Bank of China.
In this case it is private financiers who are the plaintiffs. "A new regulation of financial institutions is inevitable, but a regulatory motivated populist policies would be ineffective and harmful," warns a professional who will participate in face-to-face fast payday loans . This fear is taken very seriously since Barack Obama presented his proposals to ban the operations of market equity for commercial banks.With also the possibility of dismantling settlements whose bankruptcy would present a systemic risk.
The Obama plan goes to school
However, these recommendations appear to be in school politics. David Cameron, leader of British Conservative Party, arrived Friday in Davos, it is stored too. In turn, the technical authorities do nothing to minimize the issue of reforms to come. As Jean-Claude Trichet, at a panel on public policy interventions: "On both sides of the Atlantic, governments have had to receive 25% of GDP in the form of guarantees, recapitalizations and buyouts of securities to prevent the collapse of the sector.It would not forgive us if the system does not become more resilient in the future. "
The delegation of bankers in which American Brian Moynihan (Bank of America) and the European Josef Ackermann appeared to play a leading role, is far from presenting a seamless front. Everyone agrees to request a "harmonization of national regulations" (a level playing field in the jargon), but without going to unify the laws of each place.
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The message is clear: "It's a test, as we realize many in our restaurants and we do not communicate on the tests. This is hardly the teams in the chain of fastfood confirm the information already given by the press. It must be said that full debate on national identity, Quick fears may be amalgams and passionate reactions. The chain of fast food tested so discreetly, since November 30, sale of hamburger meat halal certificates in support-eight of its 350 French restaurants. The market is booming in France, carried by a growth rate of over 10%. Five million French regularly consume these products, and turnover of the sector reached four billion euros in 2009, well ahead of the "organic" and its 2.6 billion results.
Eight restaurants tests
The experiment should last a few months, six by the daily Le Parisien, and on fast-food Argenteuil and Garges-les-Gonesse in the Val d'Oise, Yvelines Buchelay in Marseille, Toulouse, Villeurbanne in Roubaix and the Rhone.
The question of extending the dissemination of these new products to other restaurants in the Hexagon will decide only after the test "if the commercial interest of the offer and its technical feasibility is confirmed" says Quick. The use of halal meat and non-halal in the same kitchens that require good logistics. Quick would be the first major chain to enter the niche. McDonald's, the number 1 burger, confirmed that he had not yet put in place similar project.
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Undermined repeatedly on the effectiveness of measures to support employment developed by the government since the crisis began, Laurent Wauquiez has made a point Tuesday to step unpublished figures in support on the all the devices. "1.5 million people have benefited from various measures implemented since the beginning of the crisis," said Secretary of State for Employment. This does not mean that we have saved 1.5 million jobs, but that it helped or supported 1.5 million people. We are well beyond the goals we set ourselves. "
319 000 employees in total have benefited in the second quarter (against 157 000 at first) device for partial unemployment to better compensate for time not worked (up to 90% of net salary) and, in theory, use this time for training."It is a cultural revolution that operate upstream of redundancies in our country and avoid unemployment during the crossing of the crisis," stated Laurent Wauquiez, however, unable to say how many employees actually receive training to "adapt our productive "and" permit to rebound in the post-crisis.
No crisis of recruitment in the TPE
650 000 hires have been "supported" – that is to say, created or saved – since early February with the device "zero load" which is to exempt from social security contributions while recruitment at the minimum wage. This figure includes the windfall, that is to say that the hiring would have occurred anyway, helps or not. "The objective was to support 700 000 hires in 2009, further noted the Secretary of State.We should get to make as many hires in normal years, avoiding a crisis of recruitment in companies with fewer than 10 employees. "
Another point: 404 000 assisted contracts – subsidized by the state – have been prescribed since the start of the year: 326 000 in the commercial sector (87% of target 2 009) and 78 000 in the non-profit sector ( 78% of target). 125 000 retrenched (an increase in the number of beneficiaries over 500% since 2008) have also benefited from reclassification of a device that provides personalized coaching strengthened and enhanced unemployment compensation.
Its contracts alternately falling from 20% in early 2009 "has been halted" because the emergency plan implemented in the spring. The delay would be well more than 5%."There is even an improvement in the fall compared to last year," said Secretary of State for Employment, for which the government "has managed to save the youth employment because no return ' has not been, as expected, apocalyptic ".
"Confusion about the effects of recovery plan
The Markit monthly survey, conducted among purchasing managers in the euro area shows a manufacturing PMI up for the month of October to 50.7 points, 49.3 points against the previous month. The final result is in line with analysts' expectations, remaining identical to the first published estimate there are about ten days.
The threshold of 50 points represents growth in activity. The crossing of the barrier and indicates a departure from the area of contraction in activity, which had not been the case for nearly seventeen months, in April 2008.
Larger rebound in France for nine years
If this rebound in manufacturing activity is undeniable at European level, important differences remain between countries in the area. France is the current head increases with a PMI of 55.6 points (2.6 points a month)."The French manufacturers reported another strong acceleration of output growth, performance displaying significantly higher than their European counterparts. The France and recorded a fourth consecutive monthly increase in manufacturing output, the strongest since a little over nine years. "
The index of new orders for its highest recorded for twenty-six months in the euro area, 53.7 against 52.5 points in September.
"The business conditions in the euro area manufacturing sector has improved for the first time since May of last year, driven by accelerating growth in output, new orders and slower job losses, "said Chris Williamson of Markit.
The union elections were held this Thursday at France Telecom. Nearly 80 000 people (the French employees, including subsidiaries owned more than 50%) were required to nominate their three representatives on the board of directors comprises 15 members. In the last election, in November 2004, the CGT and SUD had obtained a seat each for non-executives, the CFDT and the seat frames.
The final election results were not known late Thursday afternoon. In all likelihood, they should respect the overall balance of trade unions: CGT is the first organization in France Telecom (25.94%), followed by South (22.29%), CFDT (21.95%), FP (12, 25%), the CFE-CGC/Unsa (9.79%) and CFTC (6.77%).The CGT is really far ahead, the goal of SUD is mainly to maintain ", noted Thursday afternoon Philippe Meric, SOUTH delegate.
In the current situation of the company, which has faced a series of 25 suicides in two years, these elections are of particular value. They should measure whether employees understand the strategy of "hard" of SUD and CFE-CGC, who slammed the door to negotiations with management. Or if they approve the choice of other unions, CGT head, negotiating and feel they have already achieved progress.
Last Tuesday, at the plenary meeting between management and unions on five major projects launched in the business, SOUTH decided to withdraw holding that "where a lack of loyalty and transparency."The CFE-CGC had already left the talks last week.
'Lack of decency'
"The SGC during this crisis has tried to be responsible. This led us to achieve progress already, "observes Christian Mattorel, union delegate, reaffirming its priority" of trade union unity and defense employees. "The negotiation is open, it must be given every chance to build for years to come, says Xavier Major, CFDT delegate. Some are more often on television at the negotiating table.Sometimes there is a dramatic recovery situations that we know that lack of decency! We'll see if others give a bonus to some hyper. I t will be interesting to see what managers think, which are often found between the hammer and the anvil. "
To SOUTH, however, it is not certain that employees make the connection between these elections and the current crisis. "These elections are a little moon for employees is a bit far from their concerns," observes Philip Méric.Ce not like the election of staff representatives, with whom they interact every day. "
"Lombard," We shall emerge from the crisis together '