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 …
Feb
22
The articulation of the French nuclear industry is probably the greatest industrial complex issue to manage for the government. For months, governments are seeking a scheme that guarantees efficient operation, with clearly identified relationships between actors, EDF and Areva head. Monday at the Elysee Palace, Nicolas Sarkozy chaired a Council responsible for nuclear policy to formalize this new system. It issued its findings in stride. All the question marks in the industry are not addressed, particularly the issue of succession to the presidency Anne Lauvergeon of Areva. Similarly, nothing is said explicitly about the possible entry of EDF's capital even Areva, while the previous Council's nuclear policy, last summer, noted that this possibility should be studied.However, the Council on Monday gave a number of key for a better industrial organization and a secure supply of uranium. Finally, more than ever, it confirms EDF's role as leader of the industry, but not under any conditions.
• EDF pilot sector
In the eyes of the Council of nuclear policy, EDF, the first global nuclear electrician, must assume its responsibilities. In this context, the Council of nuclear policy installs a strategic committee of nuclear power, bringing together all actors in the nuclear industry. Minister of Energy will assume the presidency but the Vice-Presidency is entrusted to the CEO of EDF. Load therefore Proglio animate all French industry.The government does not want a repeat of the recent episode of steam generators, where EDF has openly challenged Areva.
• Three new reactors in the study
Nuclear Policy Council took note of the weakness of the French offer for medium-power reactors instant personal loans guaranteed. He asked Areva, EDF and GDF Suez to intensify their cooperation in the TDD, a third generation reactor of 1000 megawatts (cons for EPR 1650) and thus have it certified. The Commission notes that a study be launched to implement a tool of its kind in France. Currently, the only nuclear site in France for the Flamanville. The government, aware that China is the first global nuclear market (100 new reactors are planned over the next twenty years), imply that France is participating in this program successfully.EDF will be allowed to be developed with its Chinese partners a third generation reactor mégawwats of 1000.
• A partnership between EDF and Areva reactivated
Operationally, Areva and EDF are invited to operate more effectively on many issues: in addition to sharing lessons learned about the EPR, improved maintenance and operation of the park is a priority. In the background, extending the life of French power stations.
• Spin Areva mines
A new milestone was reached in the case of mining of Areva. While reaffirming that "this is a mining asset for Areva, the nuclear policy of the Council asks him to spin off. A step that should probably be followed by an opening of the capital.This spin will be "pre-examination and implementation of strategic and financial scenarios to ensure its development," the statement said. At this stage it is not said whether or not EDF will be allowed to enter the capital, while such a scenario is under consideration in the number of global electricity. Areva and EDF are, at present, only invited to conclude an agreement "to long-term supply of uranium EDF.
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. "
ALSO READ:
"Egypt: Mubarak form his new government
The companies repatriate their expatriates from Egypt
Opodo acquired by an investment fund? Unless dramatic turn of events is what should happen to the travel site on the Internet, offered for sale by its current owner, the Spanish Amadeus. The candidates had until Tuesday to surrender themselves to the operator of ticket reservation system. Two tenders, valuing Opodo more than 400 million euros, are clearly identified. Tuesday night, a question still hung on the willingness of rival Expedia and the quality of bank guarantees provided by the applicants.
The offers are from known three investment funds: one side the French and British Axa PE Permira together in a consortium, and the other the U.S. Carlyle. These three financial occur in this case with the faces of industrialists. In a highly fragmented industry, they know it's the size that makes the difference.Indeed, in a business where margins are low, everything is business volume. Only the largest will win, because they will be able to negotiate better purchasing terms, especially vis-à-vis the airlines.
Carlyle was positioned on the first sector. In association with Vista Capital, holds Spanish Orizonia since 2006. Orizonia and Amadeus, Opodo seller, is familiar: in 2008, the first acquired its interest in the second their compatriot, the online travel agency Rumbo.
Axa PE for its part, Go Voyages acquired last spring. The fund, chaired by Dominique Senequier, hoped in the wake swallow Edreams Spanish, offered for sale just before the summer break by TA Associates flexcheck cash advance. But the case, which turned, as the transaction Go Voyages around 300 million euros, was won by Permira. The two competitors are involved in the case Opodo.The idea being of course to bring the three champions to build Europe's number one industry. If their bid was not accepted, Axa PE and Permira would simply close and Go Travel Edreams.
Profitable since 2007
Launched in November 2001 by nine European airlines, Opodo has achieved a business volume of 1.2 billion euros between January and September. The site, which has been profitable since 2007, is one of the heavyweights in online travel in France, alongside SNCF Travel, Go Travel, Travel Private Promovacances or Lastminute. Opodo offers a wide range of benefits (package holidays, tailor-made packages, car rentals, hotel nights, vacation rentals, cruises …) but retains the heart of the business of selling airline tickets.
If Axa Private Equity and Permira to prevail, they could face a competition problem.Opodo Travel and Go in the majority on the market only flights sold by online travel agencies in France. The answer will define the size of the relevant market. Amadeus should determine the winner of the auction in the coming days.
Consider ways to "curb the competitiveness of divergence between France and Germany." It was the mission that Minister of Industry, Eric Besson, had entrusted to WCC-Rexecode, in the context of reflection on the approximation of economic policies of both countries, dear to Nicolas Sarkozy. This report is presented on Thursday at Bercy by the boss of the Institute of Economic Studies, Michel Didier, Le Figaro which has provided extensive excerpts, is uncompromising on the road that lies ahead.
In the first chapter, the report shall so certify: yes, the French competitiveness has dropped against its neighbor across the Rhine, but it did "not always been the case," says the document.The stall is earliest 2000s.
The report then lists the "Twelve reasons for the competitiveness gap between France and Germany – results of a survey of players on both sides of the Rhine. The answers are pointing the finger both industrial culture stronger in Germany "that the" ability to work together German companies "," proximity between research and industry in Germany, "the" size and financial strength of companies' or still an "ecosystem export-oriented."But these arguments structural "relatively permanent" can "easily" explain the drop observed over the last decade.
Differences in wage costs
The survey COE Rexecode among purchasing managers in detail in Chapter 3 points to the divergence of industrial competitiveness occurred during the last decade, by the factors "other than price, the benefit of German goods – services, delays delivery, product quality, innovative products online payday loans…
Impossible not to watch then the differences in wage costs. Particularly since the introduction of 35 hours … It shows that "the hourly labor costs in manufacturing rose 28% in France between 2000 and late 2007 against only 16% in Germany."And business results: between 2000 and 2007, gross operating surplus in manufacturing rose from 67.3% in Germany and fell 14.5% in France. Suddenly, the margin of German companies has increased while it stagnated in France.
In conclusion, WCC-Rexecode stands five priorities for "a pact of industrial competitiveness." The first, unsurprisingly, "taking into account the imperative of competitiveness in any tax reform."Second, to improve our "ability to work together by streamlining all the rules that govern the functioning of the labor market and in particular anything that forced excessive hours of work", to improve employment management "by giving a greater emphasis on human capital and stability of industrial employment deal with cyclical fluctuations (compromise-wage employment-Hours) "and" focus the training effort and research on linking research industry. " Lastly, "implementation of a strong and urgent action readjustment of industrial costs. The report sets a target to decline 5 to 10% production costs in the industry.
Jan
19
After a meeting of European finance ministers two days, the European commissioner for financial services on Tuesday urged the banking sector to exercise restraint and responsibility in awarding bonuses.
Michel Barnier has said that "the current situation where it takes work to many people, the banks have a duty of responsibility, morality and ethics as well." He warned that it "would ensure a rigorous process of the correct application of rules" in place in Europe and would consider "whether that is enough."
His appeal comes at a time when major European banks will disclose the amount they intend to pay bonuses under the year 2010 online cash advance. Goldman Sachs is preparing to pay $ 15 billion bonus to all its 35,000 employees.JP Morgan has distributed no less than $ 10 billion to the bankers.
The issue is particularly sensitive since the crisis began. The skirmish between Barclays Bank and the British government last week demonstrates the difficulty policy to enforce the rules on pay. France, which chairs the G20 group of major industrialized and emerging countries, however, calls for a limitation of such remuneration worldwide.
ALSO READ:
"Banks: bonuses a little wiser this year
The Minister of Industry, Eric Besson, decided Tuesday to grant two French SMEs and MP AXON'CABLE hygiene aids reindustrialization. The first will receive a budget of 2.2 million euros. The second, in which the Strategic Investment Fund (ISF) has taken a stake to 3.25 million euros, will receive 4.2 million euros. This decision brings to three the number of French companies have received assistance to re-industrialization, sometimes also known as relocation assistance.
It is one of twenty-three measures announced on March 4 by the President to give new impetus to the industry as a result of extensive consultation within the States-General of Industry. "France must keep its factories," says that day Nicolas Sarkozy during a visit to Eurocopter, the helicopter manufacturer.The objective is to increase industrial production by 25% by 2015 compared to 2009 and "sustain" the employment. Over 500,000 manufacturing jobs have disappeared since 2000. According to the Treasury, France lost more than 2 million jobs in the industry since 1980.
Implementation on July 8, using the re-industrialization has a budget of 200 million euros over three years. This measure is aimed at SMEs and enterprises employing fewer than 5,000 people. The company must invest at least EUR 5 million and create 25 jobs over three years to receive it. Dozens of companies have filed cases to the Inter-Ministerial Commission for Assistance to the location of activities (Cialis), which examines their applications. "The goal is not quantity but quality. We must avoid bounty hunters do not receive a windfall. Applications are processed within three months, "says an expert.
Revitalization territories
The profile of companies selected demonstrates the State's requirements. French leader in high-tech wiring, AXON'CABLE, led by Joseph Puzo, is expanding its plant in Montmirail (Marne) and built two new clean rooms for production of cables for medical and aerospace markets. Supported by OSEO-owned bank, the company employs 1,600 employees including 600 in France, is expected this year 90 million euros of turnover. It will create 50 jobs.
Manufacturer of towels for both hospitals and businesses, P. Health, which seeks 42 million euros in turnover in 2010 and employs 62 employees, will invest in a factory producing paper rolls. This will enable it to no longer depend on an Italian supplier."The State agencies were also sensitive to the interest of this project for the Department of Ardeche has experienced significant job losses in recent years, particularly in the paper. Support for industrial redevelopment, it is also revitalizing industrial areas, "says one expert dossier. The first company to receive this assistance was the foundry Loiselet. She received August 9 a reimbursable advance of 6.4 million euros for having decided to relocate in Dreux (Eure-et-Loir) activities previously located in China and India. Its investment, amounting to 12.4 million euros, is expected to create hundreds of jobs.
The Paris Bourse, which was recorded last week up 3%, continuing its momentum on Monday, while Asian stock markets have risen in comfortable this morning. By mid afternoon, the CAC 40 1.18% advance to 3902.92 points.
The index in Paris was particularly supported by the Chinese stock market, which appreciates the fact that Beijing has not established measures of monetary restriction and price control, despite the announcement Saturday in an inflation rate of more 5%. Good U.S. indicators released Friday is also acknowledged.
Friday night, the CAC 40 finished at 3857.35 points. In Europe, the DAX reached 7,000 points last week. That had not happened since June 2008. The German index reached a low in March 2009 at least 3670 points. Over the year, the DAX was up 17.60%. Unmatched performance in the rest of Europe.Symmetrical and sometimes, as in Spain: Madrid, the Ibex 35 index dropped 15.23% since January 1.
On the foreign exchange market, the euro was stable against the dollar Monday. Around 11:00 am in Paris, the euro bought 1.3219 dollars against 1.3226 dollars Friday soir.La Bank of France published on Monday morning the balance of payments for the month of October. The current account deficit narrowed in October to 2.5 billion euros after 4.4 billion in September.
Accor: focus on the BRIC
The French hotel group Accor (-0.44% to 32.98 euros) is to "accelerate its growth in emerging markets, BRIC (Brazil, Russia, India, China), said Denis Hennequin, the new boss of Accor, during a meeting with reporters on the sidelines of the inauguration of a Sofitel Vienna.CEO since 1 December and CEO effective January 15, the official also assured that the Sofitel brand was intended to remain in the Accor Group.
Air Liquide (0.56% to 96.11 euros) announced its new objectives for the period 2011-2015, including an average growth in sales of 8 to 10% per year and improve its operational efficiency of at least 200 million euros per year.
Belvedere (-2.18% to 49.29 euros), chronic financial problems, announced Monday it had waived "for now" to sell its Marie Brizard after having successfully reduced its debt by other means .
The specialist dermatology products Galderma, a joint venture to 50/50 of French L'Oreal (+0.40% at 22, 80 euros) and Swiss Nestle, announced Monday the launch of a friendly takeover bid on Swedish Mad-Q for a total of 819 million euros.
Alstom (+0.51% to 35.58 euros) will meet with French companies to tender for the high speed train between Helsinki and St. Petersburg, to be launched in the spring. Altsom must also take 25% of Russian TMH. The group also won the TGV in Morocco: the contract of 400 million euros includes 14 duplex trains.
Renault (2.27% to 45.02 euros) will show excellent results in 2010 despite a cautious start to the year personal loans for people with bad credit. Sales are expected to reach nearly 2.6 million cars, beating the 2005 record, according to our information.Net income could rise to 3.3 billion euros over the year against a loss of 3 billion last year. For his part, Peugeot won 1.83% to 31 euros.
Sanofi-Aventis extended its takeover bid for Genzyme
The hostile bid of 18.5 billion Sanofi-Aventis (-0.61% to 49.01 euros) on U.S. biotech Genzyme has expired Friday at midnight, New York, but has extended its Monday morning offers under the same conditions.
The supervisory board of Areva (2.16% to 358.90 euros) Saturday approved the proposed capital increase of EUR 900 million of public nuclear specialist announced yesterday by the state. The listing of the group was suspended Friday, resume nuclear at the opening of the Bourse.After the capital increase of Areva, Christine Lagarde does not, in an interview published Monday in Les Echos, the IPO of mining or renewable group.
JCDecaux (0.93% to 21.70 euros) announced Monday that its subsidiary JCDecaux Dicon has signed a 10 year contract for the advertising concession International Airport Dubai World Central, Al Maktoum, the new airport under construction in Dubai (UAE). The amount of the transaction is not communicated by the No. 2 worldwide in outdoor advertising.
Veolia Environnement (+0.23% to 21.58 euros) Proglio has confirmed his departure Sunday of the presidency of the group, stating that his focus entirely to EDF.The board has decided to collect as Chairman of the Board and CEO of the company and assign the new CEO Antoine Frerot.
Natixis (+0.24% to 3.77 euros) announced Friday the acquisition of 1.35 billion euros of subordinated notes held by BPCE.
EADS (+0.06% at 17.98 euros), parent company of Airbus, gave his support to John Leahy, Chief Commercial Officer of the aircraft manufacturer, in early November indicted for insider trading for sales of suspicious titles in 2005 and 2006.Airbus also announced on Monday forecast a market of nearly 26,000 units worth a total of 3.200 billion by 2029 in favor of a quicker recovery than expected and dynamism of emerging markets.
Former Legal Director of the Wendel Group (1.59% to 68.40 euros), Arnaud Descleves, filed a complaint for negligence against its former executives, including Ernest-Antoine Seilliere. He blames them for questionable practices incentive that would have ruined and led to the dismissal.
L'Occitane The controlling shareholder of L'Occitane, L'Occitane Group (LOG), sold $ 136 million worth of shares at a discount of 1.9% over Friday's closing. According to the cosmetics group, this sale allows LOG to monetize a small portion of its investment in the company. FBD's share in the capital of L'Occitane happens after the operation from 72.6% to 69.2%.
Dec
8
U.S. stock markets are changing very slightly up on Wednesday. The Dow Jones gained 0.24% at 11,387 points, the Standard & Poor's advance of 0.36% to 1228 points and the Nasdaq climbed 0.47% to 2611 points. Tuesday Wall Street has been closed close to balance. The Dow Jones lost 0.03% to 11,359 points, the Nasdaq was up 0.14% to 2598 points and the S & P 500 had gained 0.05% to 1223 points.
On the foreign exchange market, the euro still declining against the dollar on Wednesday. The greenback remains supported by the higher yields of U.S. Treasuries and the U.S. agree on tax relief. In milieur afternoon, the European currency fell to 1.3239 dollars against 1.3258 dollars on the previous evening.
On the macroeconomic front, the U.S. central bank (Fed) released Tuesday night, the evolution of outstanding consumer credit in the month of October.On an annual basis, total consumer credit rose by 1.7% (+3.4 billion). It is the second consecutive increase after 19 months of decline. This movement is explained by the growth in loans, which include auto loans, personal loans and student loans that climb by 6.8% over the month of October. However, revolving credit continues to contract, they fell by 8.4% (a decline of about 5.6 billion dollars) after having already contracted 13% in September.
Also note, following the agreement between President Obama and the new Republican majority, maintains the tax breaks the Bush administration for an additional period of two years, several U.S. economists have raised their growth projections for the next year.The most optimistic expects a rise in U.S. gross domestic product by 4% in 2011 against 2.7% before the announcement.
On the agenda of investors are including this Wednesday, the weekly inventory of crude oil in the U.S. expected to 16:30.
Offer extended on Genzyme
The side of values, as we announced, Sanofi-Aventis is expected to extend its tender offer (OPA) on the U.S. laboratory Genzyme. Indeed, the OPA launched on October 4 by the French giant for $ 69 per share, or 18.5 billion euros, expires Friday, December 10 at midnight New York time.
Also in the health sector, Johnson & Johnson launched on Wednesday its offer of 1.75 billion euros on the Dutch biotechnology company Crucell, thus dispelling the doubts of investors.The offer of U.S. health care group, which already owns 17.9% of Crucell is particularly subject to a minimum of 95% stake in sales commitments.
After market, Texas Instruments (TI) has published its expectations for the fourth quarter. The group tightened its forecast ranges for the last quarter of 2010. Texas Instruments expects earnings per share between 61 and 65 cents in the fourth quarter, against a previous forecast of 59-67 announced in October. For their part analysts on average expect 63 cents of earnings per share. The turnover will be between 3.43 and 3.67 billion dollars against 3.36 to 3.64 and 3.5 billion previously expected.
For its part Google will compete with Microsoft on its preferred playground next year by launching an operating system for laptops called Chrome as their browser.The company could make a spin off of its activities "home security" (40% of its employees, very exposed to U.S. housing) and its golf division (45% of its revenues internationally, with strong growth South Korea). The company would focus on wine and spirits business, whose growth in turnover is 7% over the first 9 months of the year.
Also note, the aircraft manufacturer Boeing has finalized the acquisition of CDI Tuesday Technologies, a software company military logistics, for an undisclosed amount.
Today investors will also monitor the speeches of leaders of Halliburton at Capital One Southcoast conference Energy from 15H00.