Sundial of world news

The time of new measures to reduce costs will soon strike in France. The State must indeed save 100 billion euros by 2013 to reduce its deficit and meet European standards.

Claude Gueant, advisor to Nicolas Sarkozy, says the Financial Times on Monday that further savings measures are in preparation. They should be announced in the fall. It says in part: "France has pledged to reduce its deficit to 3% by 2013. We are determined to achieve this goal. "

Forecast question

For now, the government relies on its growth forecasts to find half the sum. But estimates of France are considered optimistic. The European Commission and the International Monetary Fund have both criticized the government's optimism.The economy minister, Christine Lagarde, has itself acknowledged Sunday at the Grand Jury RTL-LCI-Le Figaro, saying that the forecast 2.5% growth next year was "bold" .

Lower costs

The remaining 50 billion euros will come from the decline in public spending and tax increases. How the State plan to do it? A belief in "Les Echos", the government intends to confirm its target of 100,000 new layoffs of civil servants between 2011 and 2013, after the 100,000 already achieved in recent years. Moreover, the government plans to freeze spending between 2011 and 2013 to maintain transfers to local governments and increase only slightly the health expenditure.The state should also remove the tax loopholes to recover 5 billion euros per year and create a new tax on the wealthiest to raise 3.7 billion euros. Finally, the adjustment of tax evaders will recover, as reported by the Budget Minister Francois Baroin to France Info radio this weekend, "over 1 billion just on the folder HSBC.

The Financial Times points out that these measures should not be sufficient to reach 100 billion euros in savings by 2013. If Claude Gueant has not revealed the content of the proposed measures, economists believe that the state could proceed with a wage freeze for civil servants, their salaries account for nearly one third of public spending.

"Minc" keep the tax shield

The rescue of Greece did nothing. Investors remain worried in Europe: the CAC 40 lost Thursday more than 2.2% and broke the 3,600 points, the Frankfurt Stock Exchange fell 0.81%, close to 5900 points, the London Stock Exchange has folded 1.52% to 5260 points.

In the European storm, which contaminates the morale of investors around the world – in Asia, markets deep into red, and Wall Street has suffered more heavy losses – the euro continues its downward trend.

The fears of the contagion of the disease are increasing fiscal Greek daily.If the EU, the IMF and Athens agreed to "save the country from bankruptcy last weekend, the panic was due to global finances since the beginning of the week.

On Tuesday, the rumor "murders" that Spain could ask 280 billion euros in the IMF and could see its rating deteriorated by Fitch and / or Moody's has dampened the markets. Madrid and ratings agencies have denied. S & P himself has lowered its rating last week.

Then Wednesday, the storm came from the threat of degradation of the sovereign debt rating by Moody's from Portugal.

On Thursday, Jean-Claude Trichet, president of the ECB (European Central Bank) has failed to reassure markets quick cash.The Ibex-35 index of the Madrid Stock Exchange ended down 2.93% and the Lisbon PSI 20 downgraded from 2.37% to 6824.8 points.

The Athenian has taken place, the colors, gaining 0.98%, despite the strong social tensions in the country.

The euro to 1.25 soon

Since the euro has broken the support of 1.3280 earlier this week, the single currency dipped down. On Friday, it dropped below $ 1.27, to 1.2659 dollar per euro, far from 1.5144 dollars reached November 25, 2009. The Euro is at its lowest in a year deal with the sixteen major currencies in the world, and been fourteen months against the dollar.

Since 1 January, the single currency has dropped 11.4%.

"The next support is at 1.2450 dollar," recalls the president of Saxo Bank, Pierre-Antoine Dusoulier, and ensures that could be reached "very soon".

If the euro remains at levels "healthy for the European economy, this decline reflects the magnitude of the crisis in the Old Continent. Such differences in scoring so little time, are accustomed closely watched by the European Central Bank (ECB).

ALSO READ:

"SPECIAL CASE – Greece, a challenge for Europe

The big annual event in the automotive industry held in Beijing until Sunday confirmed that the style and technology of Chinese cars are progressing well. The Citroen ZX for hire, Volkswagen Santana and other pale copies of Japanese sedans certainly live their last years of existence.

Great Wall, a great inspiration – Haval Under the label, the mark this year an unprecedented range of 4 ? 4 leisure. It is recognized in the models exhibited the features of the Volvo XC60, VW's Tiguan and the Mazda CX-7 or the Hyundai Tucson. The latter, renamed H6, is equipped with a 2-liter common rail turbo diesel and a 6-speed automatic transmission, like the original.

Click on the thumbnail to enlarge the graphics.

"The earlier reforms were they unnecessary?

"The supplementary pensions are they targeted for reform in 2010?

"This reform will Does the" end all wars "?

The officials they escape this new reform?

• The earlier reforms were they unnecessary?

»Back to top

After disappointing results in 2009 of Soci?t? G?n?rale, its CEO Frederick Oud?a knows waited. Both internally and externally. Vis-?-vis its troops, he has to take action. He unveiled a few days to key executives of the bank the outlines of a comprehensive transformation plan, dubbed "Ambition SG 2015" on which management has plate in the second half of last year.

Fifty sites have been identified, comprising four strands of work – customer relationships, image, operational efficiencies, staff. A strategic committee, chaired by the CEO, will meet every fortnight to confirm their advance."This is not a restructuring plan," warns the outset Severin Cabannes, deputy CEO, which states: "We expect and we adapt to changes in the environment."

A regulatory environment which strengthens capital requirements, requires the optimization of resources. It is no coincidence that, for the first time since the acquisition of Cr?dit du Nord in 1997, the bank plans to share its resources with regional gem. "We want to preserve the entrepreneurial spirit of the bank and we will associate with an industrial approach," says Severin Cabannes.

Another declared objective of the Societe Generale, the transition to a company focused on customer relations, as opposed to a counter which "push" of products.Same logic: the regulators, when calculating the liquidity needs of banks, will weigh the deposits according to the fidelity of goodwill. The challenge is even more crucial for a network that is still recovering Kerviel scandal and controversy surrounding stock options. So, at Societe Generale, a barometer of customer satisfaction is now one of the criteria for evaluating managers, next to the control of operational risk and the expense ratio on income.

Change Image

The most urgent projects such as the brand platform, the convergence of retail banking networks or approximation of systems have already been placed on the rails. "Changing the image of the bank is one of our priorities. We have already started work.The new ads end of 2010 will be marked by the change, "and warns Caroline Guillaumin, the new director of group communications.

The general direction of the Company asserts course very attentive to the additional stress involved in this challenge to its 160,000 employees. The trauma of France Telecom is in everyone's mind. "All projects will be accompanied by change experts. If we go more slowly, we'll go more slowly, "insists Severin Cabannes.

"We presented this business plan to the 1000 Ambassadors of the bank and 95% of them said they adhered to it. This shows a very strong support and I see a show real momentum around Frederick Oud?a "concluded Deputy CEO.Certainly, the bank needs to show it solidly behind his boss, when critics suggest instead a degree of uncertainty since the redesign of the staff. Vis-?-vis the outside, the long awaited day of 8 June investors will take stock of the strategy and financial outlook for 2012. The same day the trial begins Kerviel. A coincidence heavy.

NRJ Group may blow. In a difficult economic environment in 2009, the broadcasting group announced on Thursday a return to the green with a net profit of 6.8 million euros against a loss of 4.6 million euros in 2008. Revenues excluding exchange operations declining slightly by 0.4% to 330 million euros. The news, however, may not be appreciated by the markets. These projected a net profit of 15 million euros.

For its part, NRJ Group is satisfied with these results. The group managed to improve its operating performance with a net operating profit up sharply from 38% to 25.4 million.Operating income for the handset business, which had sealed the results of their 2008 deficit of 9.5 million, were not disclosed.

Cleopatra and the TNT derive results

NRJ Group finds particularly strong improvement in the poles and television shows. The first saw its revenues rise by 75.6% to 43.9 million euros through the two channels of the TNT NRJ 12 (third string DTT) and NRJ Paris. The group managed to reduce its operating loss in this sector to 15.8 million against 22.7 million.

The cluster performance makes the best performance with an increase of 712% of its revenues in 2009 to 26.8 million euros against 3.3 million a year earlier easy pay day loans !!!???!!!? ??!!!."This strong growth mainly due to the success of the musical Cleopatra whose contribution to consolidated sales amounted to 25.0 million euros in 2009 compared to 0.5 million euros in 2008" , the company said.

In contrast, the pole Media music has suffered a fall of 15.7% of its revenues to 197.9 million euros.International operations also saw their incomes fall by 9%.

Improvement for

For 2010, the group was cautious in a "fragile economic environment" and a "visibility remains low.

But positive signals are detected including "an improving trend on advertising revenues in March, thanks to sales growth in Radio France, which could therefore register growth in the first quarter of 2010 compared 1st Quarter 2009 ".

"In television, the trend remains strongly positive since the beginning of the year," the statement concluded.

ALSO READ:

"Baudecroux" NRJ be more competitive this year "

The crisis has not spared the expatriates. These work situations envied, long associated with numerous benefits in kind, tend to reduce to a trickle. As a result of depressed economic conditions, but not only. For fifteen years, companies have committed an evolution of their expatriation policies: fewer executives sent abroad, fewer benefits included in the "package", and more difficulties encountered by the expatriate his return to France … The status tends to lose its luster.

"The underlying trend is downward in the number of expatriates for the benefit of local cadres" confirms Paul Mercier, head of the Africa region at Michael Page Africa. Less expensive, these executives are also less difficult to find.Some areas of Africa or Asia excepted basins provide local jobs because of what fill the needs of enterprises at lower cost. "We are witnessing a competition between increasing local and expatriate" is also Claude Mulsant, CEO of Magellan Circle. Comparing the most unfavorable to the former.

Costly benefits

For if the expatriate benefit of all contracts under local law, this status also gives them several advantages, sometimes very expensive for the company.Notably, the "package" negotiated by the expatriate before his departure, may involve the payment of housing, schooling for children, the French social security in addition to the host … "With the crisis, companies have been particularly attentive to reduce costs, and therefore significantly reduced the benefits offered by the "package", "Analysis Paul Mercier payday loans online . "The premiums have decreased, as the standard of housing available" confirms Claude Mulsant.

Jacques-Olivier Meyer, CEO of HR firm Intelfi International, also found that habits have changed. "The crisis has reflux number of expatriates in some areas, including Asia," noted he.And these returns have not always been without difficulties: "Some expats have found themselves pushed out on their return to France," remarked he. More generally, it is an average of expatriation down 5 to 3 years observed by Jacques-Olivier Meyer last ten years. Thus a fall in the number of expatriates who leave within three years after their stay (only 1 / 3 retentent experience). "The expatriates feel that conditions are less favorable than in the past," said he.

A threshold incompressible

So, farewell expats? Certainly not, answered Paul Mercier. For some functions can do without the experience and corporate culture of these executives preferred. "When the business is established, local officials can often replace expatriates.But to establish a subsidiary, a new factory or make an investment that requires export of know-how, the expatriate remains indispensable, "said Paul Mercier. Jacques-Olivier Meyer goes even further: "With the crisis we have reached an irreducible minimum. I do not see how the numbers could still be reduced …. "

"The results of Haulotte Group in 2009 were logically impacted by the decline of almost 75% in world market volume of the car compared to 2008, according to a statement. Indeed, accounts of the number one European lift platforms people have gone into the red in 2009, posting a net loss of 55.7 million euros at the end of the financial year, against a net profit 31.9 million euros at end 2008.

The current year promises nothing good, "in the absence of any tangible sign of market recovery early this year. The group led by Pierre Saubot decided to focus its attention on reducing the need for working capital and to control its fixed costs.The focus on commercial areas "more potential" will also be intensified.

Maintaining market share

Last year, net debt was reduced by more than 15 million euros thanks "to the sharp drop in volumes produced" instant payday loan . The group's cash at December 31, 2009 amounted to nearly 66 million euros.

Major European and American renters have hardly invested in 2009, but Haulotte Group has maintained its market share in Europe while growing in Asia and America.

Haulotte Group will pay no dividend for 2009.

According to preliminary information provided by the sector for 2010, the year is still difficult, even "if the worst is now behind us.""The rental companies remain cautious about their investments and should carry out spot purchases and replacements to the fleet in view of utilization still low and rental rates under pressure," Gilbert Dupont analysis.

"It should stand on a cow so we can better see!" At the Salon of Agriculture, a crowd of onlookers quickly formed over the course of Nicolas Sarkozy, despite an early arrival more than expected Saturday morning. Instead of starting the tour at 9:30 am as originally indicated, Nicolas Sarkozy has surprised almost all journalists arriving one hour ahead.

Young contestants of agricultural schools, farmers horses, cattle, sheep and also butchers and florists … the president has sacrificed tradition and spent two hours in the aisles at the meeting of agricultural sector in deep trouble . After the walkabout, he announced new measures to help during a roundtable discussion with farmers.

"It must protect us against disasters"

Among the notable events of the morning, Nicolas Sarkozy held talks with Jean-Paul Rault, sheep farmer in the Vendee who lost almost all of his flock during the storm Xynthia. "I told him he should protect us against future catastrophes, because once again, I will, but not both," says the farmer of Walnut St. Radegund. Only were rescued sheep that was brought to Paris for the Salon.

"The president said he would not let us down, it would help us rebuild. And he would see us in Vendee, "says Jean-Paul Rault. The farmer said he was heartened by the presidential speech? "I have no a priori," he replies."We have seen figures for the help, we'll see what it will serve."

Video – flying over the farm of John Paul Rault after the passage of Xynthia:

More politics, the meat industry has questioned the head of state … about Greece. "He seemed surprised and not really know, but I asked him to be very vigilant on the Greek question: is our first export customer with 70,000 tonnes," explains Denis Sibille, president of Interbev, the inter-beef, mutton and horse. "The number of failures is very high and we refrain now to export, where a shortfall."

"Less talkative than President Chirac"

The exchange was more lively with the representative of the Federation Nationale Bovine (section FNSEA).Jean-Paul Fleury asked Nicolas Sarkozy less listen to his Environment Minister Jean-Louis Borloo, and arbitrate more often for his "excellent minister of Agriculture, Bruno Lemaire. "The arbitrage is my job, I do those I do," replied the president.

As tradition dictates, the President has offered a basket of food to stand craftsmen butchers. A prime rib and leg of lamb. "Just as with Chirac, I am sure that the meat was consumed, as with Nicolas Sarkozy, I'm not really sure," said Jean Claude Obriot however, the vocational school of the Butcher."And then he is less talkative than President Chirac," remembers the butcher who hosts the Salon chairs for ten years.

Just curious still, Nicolas Sarkozy was investigated to know what wood was made of sticks Youth Farm School of Laurent Sainte Marie in the Pyrenees-Atlantiques. In Hazelwood, they replied. A medium hard wood, semi-flexible, especially light. Ideal for tapping the side of the animals and move them forward.

ALSO READ

"Nicolas Sarkozy discrete Agriculture Exhibition

"Sarkozy expected to firm up the Salon of Agriculture

»BLOG Eric La Chesnais – The pen in the fields