Sundial of world news

"We see the gentleman behind the great communicator." Thus did Laurence Parisot commented on Monday, the first decision of the boss of Publicis Group, the new President of the French Association of Private Enterprise (Afep, which includes hundreds of large companies including those listed on the CAC 40). Maurice Levy has proposed to his counterpart Medef code to complete their common governance, to promote parity. The text now recommends that boards of directors (or supervisory) have at least 20% of women within three years and 40% by six years, these deadlines will act over the arrival due mandates.Some recommendations that match the proposal passed earlier this year by the Assembly at the initiative of the UMP MP Marie-Jo Zimmermann, with the support group president Jean-Francois Cope, who must still pass the Senate .

But the draft law provides for sanctions, including revocation of appointments of directors who flout the rule. Nothing like it in the code AFEP-MEDEF: all the betting is that firms will not dent their image. This is the principle of "comply or explain" ("comply or explain"), which Maurice Levy thinks it will be very effective: "If the rule is not applied, it should explain why in its annual report and before his shareholders.This is the strongest thing that can be imposed on a board of directors. "This idea of self-regulation had given birth to the code AFEP-MEDEF, allowing companies to avoid legislation on executive compensation (parachutes gilded, stock options …). Similarly, Maurice Levy believes that "the law is no longer necessary" on women directors. Marie-Jo Zimmermann replied "very pleased that companies show their willingness to move forward" but hopes that his bill "continue its path. He took this sword of Damocles that things start to move, we'll see in two or three years if we can remove it.In addition, continued its elected Moselle, my text provides a resolution of the board annually on equality across the company: hiring, pay, career development … ".

Bernadette Chirac at LVMH

"We may not like quotas, but there are circumstances where a little help can ease the situation," said Laurence Parisot, who "companies are at the forefront. We never talk about discrimination suffered by women in top management. The subject is still in the agenda of the "Social Agenda 2010" of Public Service."And we talk enough about the risk of decline with future territorial advisors," says the boss of bosses, the voting could be first past the post, whereas the regional advisers are currently elected on joint lists.

According Afep, women accounted for 10.4% of the directors of the CAC 40 in late 2009, and is expected to rise to 15.7% this year. Carole Lewiner will be ushered to the board of Bouygues, Laurence Dors at Capgemini, Meglena Kuneva at BNP Paribas in Fatine Layt Imeri … Without forgetting Bernadette Chirac at LVMH.

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The third Chinese airline, China Eastern, on Friday announced a membership agreement from June 2010 with the Skyteam alliance is located in, including Air France-KLM. His entry will be effective in mid-2011. Companies Delta Airlines, Alitalia, Korean Air or another Chinese company, China Southern, are also part of Skyteam.

Air France-KLM had already signed a partnership with China Eastern on code share flights between Paris and Shanghai. For the French company and the alliance, the future membership sounds like a victory against the other alliances such as Oneworld and Star Alliance. Skyteam marks indeed a great point against Luftahnsa who was also in the running.Thus deviend Skyteam alliance, the largest in China, probably the greatest future aviation market in the world.

More chess with Japan Airlines and Kingfisher Airlines, which joined Oneworld, Skyteam revives success. Oneworld not in its ranks as Cathay Pacific to Asia as the marginalized in this market.

However, doubts remain about the relationship with China Airlines Star Alliance, which had signed a trade agreement with China Eastern.

In June 2010, SkyTeam also plans to host two additional members, Vietnam Airlines and Tarom.

Tax policy will be one of the major challenges of the 2012 presidential. Elected representatives of the majority have realized that the crisis had substantially changed the perception of the French measures taken at the beginning of the quinquennium. In the UMP as among the centrists, parliamentarians are increasingly likely to claim "adjustments" of the tax shield in the left side, which for three years, tirelessly seeks its removal. The Budget Minister Francois Baroin, who was auditioning for the first time Tuesday by the Finance Committee of the Assembly reaffirmed the need to maintain the tax shield to send a message of "fiscal stability" for French taxpayers who chose to go abroad to save taxes.

A topic "anxiety"

But the lines are moving in the majority.Thirteen UMP deputies said they would seek in a bill, the "suspension" of the tax shield to "finance the pension reform, reduce deficits and to support people in precarious situations. Jean-Francois Cope, the owner of UMP, which remains "very committed" to this device, does more to suspend the application "for a limited time, for a visit of solidarity.

The chairman of the New Center, Herve Morin, said that the question deserves "a full debate". The deputies and senators are centrists on the issue at the forefront, and that of the ISF. Jean Arthuis, the chairman of the Senate Finance Committee, has long called for the abolition of the tax shield and the removal of the ISF, with consideration for the creation of an additional tax on income at 45%.In the House, Charles de Courson, a specialist in budgetary matters, is on the same line as the president of the centrist Alliance for the ISF. But it does not require the abolition of the tax shield. He would prefer the way the CSG and CRDS shield calculated at fixed rates, and that the CRDS is increased by 0.2% to 0.3%.

Jean-Francois Cope,, recommended the merger of the income tax, the CSG and CRDS to reduce deficits and debt, which have become a subject of "anxiety" to the French. This was the observation that the majority elected to have the opportunity of the regional campaign. Cope also agrees with a repeated request of many of the elected majority, leaving the principal residence of the base of the ISF.

The CAC 40 gained 0.49% to finish at 4053.94 points, its highest level since the beginning of the year. Frankfurt has won 0.27% and 0.62% in London.

After four days of Easter break, European markets greeted the resumption of job creation in the United States, announced last Friday as well as good numbers of activity in services and real estate published in recent days.

U.S. markets plying highs not seen since late 2008, however, regained their breath. The day before, while Wall Street took note of good statistics published during the week end, the Dow Jones closed up 0.43% and the Nasdaq had allotted 1.12%.

After this beautiful hike, investors preferred to play the card of caution before publication in the night "minutes" of the Fed.A document that transcribes the discussions that took place at the last meeting of the Monetary Policy Committee of the Fed and many analysts imagine animated. Although directed at the opening, the Paris market has reduced its earnings in mid-session, affected by Wall Street and by new concerns about Greece which weighed on the euro.

Raw materials and surging oil

On most major world stock markets, the values related to raw materials and light winds were driving the increase. The latest U.S. statistics have dramatically raised prices. The barrel is trading around 86 dollars in New York, on the summits of 18 months!

In Paris the title of the mining company ArcelorMittal has spent virtually all sitting at the head of the CAC 40 with a gain of nearly 4%, followed closely by oil services Technip and Vallourec disputed second on the podium.On the deferred settlement (SRD), Eramet jumped more than 7%. The title was borne by a positive note, analysts at Exane BNP Paribas, which have raised their price target to 260 euros against 175 previously.

They were euphemistically called the "very high salaries." These are the 133 000 full-time employees the more lucrative private sector who have received an average gross earnings of EUR 215 600 in 2007. Three times more than the "high wages" and seven times more than all full-time employees. The heterogeneity of this category is very large: the differences in annual revenues ranging from 84 500 euros to more than 13 million.

This category of the population does not know the crisis."While they represent only 1% of the workforce, people with very high incomes receive 5.5% of earned income, 32% of income from assets and 48% of the windfall revenues reported (capital gains, exercise of options), "INSEE noted in the 2010 edition of its publication The income and household wealth.

Between 2004 and 2007, the number of employees earning more than 100 000 per year has increased by 28% and those exceeding the half-million dollars … 70%! Since 2002, wages rose an average 5.8% per annum in real terms, against a 2.3% increase for all employees on the same period. Three focus areas more than half of these very high salaries: advice and assistance (including sector "business administration" including holding companies, the group headers), financial activities and trade activities Wholesale.

West Paris in mind

40% of these very high salaries are salaried executives who earn on average 230 000 per year, 15% of financial professionals, such trader or chief of a financial service of a large company (290 000), and More anecdotally, for 0.8% of them, the athletes earning almost 450 000 euros on average per year.

Nearly nine in ten very high salaries (87%) are men. "The more you go up the hierarchy, the higher the proportion of men increases," notes INSEE estimated 6% difference in pay between male and female quotas at this level of responsibility.

Another feature related to the experience, they are older (49 years on average) than high wages (45 years) and that all employees (40 years). Only 16% of them are under 40 years.Finally, nearly one in two lives in West Paris, in the three departments (Paris, Yvelines Hauts-de-Seine) where the head offices of large enterprises.

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About to change hands, the London department store Liberty has recovered dramatically last year. After ten years of losses, the Corporation generated positive operating income, while net income remains in the red (loss of5, 14 million pounds, or 5.71 million euros), due to debt and amortization important. The turnover, he flew 20%, A59, 6million pounds (66.26 million euros) in a context that difficult to eat.

Liberty is therefore in better shape, while its owner since 2000, the real estate magnate and hotel Richard Balfour-Lynn, announced in the middle of last year its intention to sell.

Among the candidates, the investment fund Capital BlueGem seems to hold the rope. Led by the former head of Merrill Lynch Global Private Equity, Marco Capello, he would have offered more than 40million euros.Much more than the other contenders, which include Robert Bensoussan, the former leader of the Jimmy Choo shoe, or the Chinese textile giant Li & Fung. Discussions in the home straight, could result in the month of April.

Liberty is a non-standard British heritage. En1875 Arthur Liberty opened his bazaar East India House on Regent Street between Piccadilly and Oxford Circus cash till payday. The Tudor style building is constructed from wood of two ships of the Royal Navy. This beautiful building has just been sold by a group Liberty Property German 46millions books, teaches becoming tenant of the premises. Inside the store, marked by a maze of elegant woodwork was redone last year.There is a sharp selection of fashion products, design and beauty.

"Avant-garde and accessible"

"We refocused on the cutting edge and accessible, with original designers not found elsewhere in order to rejuvenate our customers," says French of Geoffrey Labourdonnaye, former Christian Lacroix, who runs the company. This strategy of "renaissance" that he initiated continues to pay: he said the first quarter of 2010 shows trends "excellent", higher than last year. Liberty has refocused on its flagship store, after closing its Annex district of Knightsbridge. Moreover, the brand is known for its floral fabric that made the heyday of Cacharel, again in full in the trend. Sales of printed Liberty, which weigh one third of total revenue, surged DE23% in 2009.

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.

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* Dassault Aviation announces Wednesday it had achieved in 2009 net profit of 315 million euros, down from 15.5% in one year, before amortization related to the purchase price of Thales shares. Operating profit amounted to 393 million euros against 434 million a year earlier, showing an operating margin of 11.5%.

The turnover stood at 3.42 billion euros. This figure is down from 3.6 billion in 2008. But Dassault was penalized in 2009 by order cancellations with 65 Falcon for NetJets aircraft to be delivered beyond 2014. "They will be recommended and delivered according to market developments," the company said.

The board of directors would propose a dividend of 8.8 euros per share.

Orders of 98 Falcon and 60 Rafale

Last year, Dassault Rafale has delivered 14 and a record 77 Falcon (aircraft) against 72 the previous year bad credit payday advance . At the end of the year, the balance appears in negative controls to 1.32 billion euros. For only Falcon, its largest division, the negative balance amounted to 3.85 billion.

For more, Dassault Aviation has provided any forecast results. The manufacturer adds, however, have received orders for 98 Falcon and 60 Rafale. Charles Edelstenne, CEO of Dassault Aviation said in a press conference that sales of Dassault Aviation in 2010 should be stable and that its results should be "a little worse."On Thales, Charles Edelstenne said the reorganization projects have received approval of two major shareholders of the group, state and Dassault Aviation.

* Dassault owns Le Figaro.

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A territorial policy of social housing, that is to say building in priority areas in deficit, such is the ambition on Wednesday by Secretary of State for Housing. Two days after the publication of an alarming report of the Fondation Abb? Pierre on poor housing, Benoist Appearing presented the draft state for 2010, namely to contribute up to 4.7 billion euros to finance 140,000 housing, half in Ile-de-France, Rh?ne-Alpes and Provence-Alpes-C?te d'Azur, the zones "tense". The program is ambitious, even by the balance of 2009 when 120,000 housing units were built "three times more than in 2000, the ministry said.

4 billion tax form

But if the Social Union for Housing which manages public housing can not approve a policy that it "calls for two years, is on the question of financing the rub.The state budget provides for the payment of 624 million euros to public housing agencies as aid to the stone. The rest of the state aid-more than 4 billion-will take the form of tax incentives (VAT, property tax, preferential interest rates). "The $ 624 million is less than 660 million euros achieved in 2009, and far from the 800 million budgeted in 2008," laments Pierre Quercy, general delegate of the Social Union for Housing which manages public housing best payday advance . "We're going to build a priority in areas of shortage, and therefore more expensive, but with less money," says the delegate general who believes a more realistic assessment of the number of homes built to last 100,000.

At the Department, any accusation of declining level of aid is denied."The effort of the State is not limited to 624 million euros of aid to the stone, take into account the full support of 4.7 billion euros, which will build 140,000 homes social, said the firm Benoist Appeared. Construction or purchase. As announced Tuesday the secretary of state, public housing agencies will be able to acquire any vacant units to turn them into housing. Another idea supported by the Social Union for Housing, but according to Pierre Quercy will face the same problems of funding. "We estimate that 350 million euros of state aid would be needed to buy 10,000 housing units in the tense areas," said the delegate general. What largely begin the budget.

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While the National Assembly must address on Tuesday on the shutters "great debt" and "Taxation of banks' of the supplementary budget, Eric Woerth, the budget minister, said on France Info this morning that" the impact of large borrowing on the government deficit in 2010 is limited to 2.5 billion euros, or 0.1 points of GDP, while stressing that he was "loaned funds, which will be refunded. Eric Woerth said the need to "reduce our structural deficit, but by the activity that will recreate the recipes that have failed during the recession."He recalled that the forecast deficit passed Monday evening in Brussels indicate a return to a level of public deficit below 3% of GDP, in line with European requirements in 2013, assuming a growth of 2% to 2.5% .

Another topic to be discussed by MPs today, charging the banks should "be subject to parliamentary debate," said Eric Woerth, adding that "it is essential to tax speculative activities.

A minister little to say on pension reform

Regarding the proposed pension reform, a project which must be opened after the regional elections, the budget minister has shown little to say cash advance to savings account .He merely noted that it is a "big issue" and that "all options for reform are on the table."

Also arrested on the law of mobility of staff, Eric Woerth has detailed the operation: "the law of mobility must allow officials to move easily from one jurisdiction to another. An official unearmarked, because his position was eliminated as in private careers, will be entitled to retraining and individual training, which did not exist before. It will then propose a post. It will address three refusals, but then, it will be laid off. "Eric Woerth has assured that" the family and geographical constraints will be taken into account. "It concluded that "after three refusals, it is normal that the employee leaves the terminal, because it means that the person is more motivated to work in administration."

To those who accuse him of wearing a type of speech 'administration, you love him or you leave her', Budget Minister has assured that "this reform can finally build a real human resources policy in the Administration, with merit promotions. "