France has not lost fiscal credibility in one night: the election of Francois Hollande suddenly does not make the country less able to finance its debt. While remembering not to take any "political position" is the message that wished to address the rating agency Standard & Poor's Monday morning, issuing a statement saying that the memo from France – "AA +" with perspective negative – was not challenged.

"We still believe there is at least one in three chance that we may need to lower the long-term rating of France this year or in 2013," says S & P, however, with regard to finances public.

Test market 16 May

In its statement, the agency says it will "analyze the choice of new president and new government" and take into account in any future decision on the outcome of the June elections payday advances.

The next auction of debt, which will be held Thursday, May 16, should serve as a real test markets. It is at this moment that we will know if investor demand to fund the French debt is as important as ever.

At the Agence France Trésor (AFT), we simply note that Monday morning, "the 10-year yield continues to relax"

.

ALSO READ:

"Deficits: a five-year stress

"Holland wants to encourage the French to finance debt

"Holland predicted a decision on the AAA after the election

It is a paradox. Michel Combes, the current CEO of Vodafone Europe will become CEO of SFR and board member of Vivendi from August 1, 2012. Jean-Bernard Lévy, Vivendi's chief executive who assumed the interim of Frank Esser arrived in late March, has finally chosen the man who best knows the file. And for good reason! It is precisely Michel Combes, who just last year, sold at high prices to the 44% Vivendi Vodafone's shareholding in SFR. Since 2008 and became head of European operations of British mobile giant, Michel Combes was also a director of SFR. He proceeded to examine every angle SFR.

Shortly after the departure of Frank Esser, Vivendi launched a search to find a replacement. And soon the name of Michel Combes has surfaced. It is a great French telecom specialist for the financial director of France Telecom in 2003 before becoming the right arm of Didier Lombard until 2006. But it is also a leader who has acquired an international dimension to the head of Vodafone Europe since 2008 low fee pay day loans. Meanwhile, the X Telecom 50 years, known for his enthusiasm and hyperactivity, led TDF, the technical broadcaster of television and radio and wireless mobile telecom. His brief tenure as head of TDF was marked by the construction of an ambitious business model that attracted the new shareholders of TDF, the TPG, Axa Private Equity and the CDC.

At the head of SFR, Michel Combes will have to implement the plan to win back customers attracted by offers Free Mobile. It will also improve profitability of the mobile operator heavily affected by the general decline in package prices. In 2012 and 2013, the EBITDA of SFR should decline by 15%. A challenge for Vivendi, who paid € 8 billion to acquire the entire share capital of SFR few months before the arrival of Free Mobile market. The destruction of value for Vivendi would be valued at nearly $ 2 billion.

"The year 2012? It will be for managers of private two-tier one year, with a side business confident in their investment and hiring, and the other companies in the uncertainty and lack of visibility on their backlog. I think this is true for regions: some are well oriented, others display recruitment forecasts downward, "says Pierre Lamblin, Director of Studies of Apec. According to the Association for the employment of executives, three regions are traditionally large purveyors of jobs: the Ile-de-France, Rhône-Alpes and Provence-Alpes-Cote d'Azur (PACA), with 45% of GDP and over half of employment in the private sector framework.

Occupational mobility

This year, the Paris Region companies provide hiring 67,900 to 87,800 frames. "Although the Ile-de-France is a region of opportunities, we note that some executives to leave the better quality of life from 35-40 years. Conversely, applying the Paris region makes sense for executives in the provinces, for example after a hiccup or when the ambitions of growth are not up to par, "said Didier Gaillard, CEO of the firm Expectra. A study by Trendeo on employment in the territories has also established that the Ile-de-France, between 2009 and 2011, has a balance of negative job creation of over 7,000 positions, while Aquitaine shows a positive net balance of 12,340 positions.

In Rhone-Alpes, hiring forecasts recorded by Apec range between 16,600 and 19,900 jobs. Assets of the region? Two strong economic centers around Lyon and Grenoble, a structure of skilled jobs and a good balance between industry and services, type of activity and company size, which smoothes the effects of any economic downturns. "There's always a nice dynamic in sectors such as IT, where even we suffer from a shortage of candidates with hard to fill a good half of the jobs entrusted to us. Rhone-Alpes region is however that manages to attract candidates from other geographical origins, "says Jerome Lieutier, regional head of Expectra. With 61% of executives recently installed, the region is one that seems to attract as many newcomers to the Southwest (57%) and Southeast (59%) says a recent study by Michael Page on the situation frames into regions. In the same study, two thirds of executives surveyed nationally had changed region at their last job transfers.

For Paca, the situation appears more mixed. Companies counting on 11,100 to 14,200 recruits executives, representing an increase from – 10% to 15% depending on the scenario compared to the previous year, according to figures from Apec. Regional Sales Manager for the firm Kobaltt, which operates in the business accounting finance, engineering and IT and telecoms, Gregory Blazquez confirms: "In our business, Paca has declined since the end of last year . "

9000 industrial jobs in Midi-Pyrenees

Although relying on smaller volumes of recruitment, other regions have their own in the game This is the case of the Auvergne, driven by the dynamism of Michelin, or Midi-Pyrenees, which displays recruitment needs in the industry (including Aeronautics) of 9000 new employees in the next two years.

Regional Manager for the Western region Expectra, Isabelle Rivard also recalls that the Brittany and Pays de la Loire together with sectors such as aerospace, shipbuilding, biotherapy, or IT and telecoms: "In this last sector, we face a real shortage of candidates, which has always existed, but was strengthened. "The West wins the prize for satisfaction with 94% of managers satisfied with the region in which they work, according to study of Michael Page on frameworks in regions. 

ALSO READ:

"Reprise gently in Provence-Alpes-Cote d'Azur

"It is good to live and work in the Rhone-Alpes

"Executives are concerned about their personal future

SERVICE:

"Job offers in France and abroad with Cadremploi

FOLLOW THE INSTRUCTIONS ON FIGARO:

"Twitter: @ LeFigaro_Emploi

Nothing works for Nokia and its new boss Stephen Elop. A week after reducing its forecasts for mobile phones in the first half of this fiscal year, the Finnish group said the extent of damage. The group, which is losing its world of telephony in favor of South Korea's Samsung, has declined by 29% of its turnover in the first quarter, to 7.35 billion euros. Nokia says it has shipped 82 million mobile phones in the first quarter, with a decline in sales in this activity by 40%.

The result remains in the red, as in the last quarter of 2011. But the operating loss increased to EUR 1.3 billion. Now the two core businesses of Nokia show losses. In mobile phones, the operating loss represents 3% of sales against 10% more profit for the same period of 2011 free credit score. In equipment for telecommunications networks, Nokia Siemens Networks' book including the mobile network of Free, the operating loss reached 5% of revenues.

Especially in the short term, the outlook remains bleak. The loss in mobile phones should be of similar magnitude in the second trimestre.Les sales of Nokia mobile also collapse in North America and Chine.La only glimmer of hope rests on smartphones equipped with a Operating from Microsoft, including the aircraft from the Lumia provided the U.S. with T-Mobile and AT & T.

It would have been a shame to keep the good news to yourself! With two months ahead of the traditional Accounts Committee of Social Security, the government announced Tuesday that the results "still provisional" general scheme for 2011. The deficit reached 17.4 billion euros, 3.5 billion less than budgeted and $ 600 million better than expected in the fall. This "hole" remains the third highest in the history of Social Security, according to records from 2009 and 2010 mainly due to the crisis. The improvement should continue in 2012.

The relatively good surprise of 2011 comes from the health insurance. Its revenues were higher than expected and expenditures lower. "This is essentially care city," said its director for Voices. For Frederic Van Roekeghem although welfare is "slightly under-funded," balance the books "is within reach, without embarking on reforms brutal." A whiff of optimism that the two favorites for the presidential does not contradict probably because of brutal reform, there is no question in their programs.

A tax on CO2 emissions

Logically, Nicolas Sarkozy proposes the continuation of actions taken. Down drug prices and volumes consumed, rationalization of the hospital with the development of ambulatory care homes nearby emergencies to relieve these …: these measures should help contain rising health care costs in rates historically low of 2.5% per year. Faced with medical deserts, the president candidate wants to multiply nursing homes and assist in the installation in rural areas or the suburbs – an ineffective way to date – without seeing the freedom of settlement. Against the excess fees excessive, he put on the new system of government (voluntary physicians to limit the excess and reimbursement by complementary), which does not yet meet the main question.

Nothing fundamental about the pension reform after Woerth – only promise to pay the basic pension from the first of the month, instead of 8. Finally, funding side, social VAT will alleviate employers' contributions, so the cost of labor.

Francois Hollande,, cancel account this increase in VAT if it comes at the Elysee. He announced an increase of one billion euros per year pension contributions to fund its only specific promise in retirement: the possibility of retiring at 60 for employees who worked continuously for 41 years. But he also outlined on Tuesday lexpress.fr other avenues for funding Social Security is no longer based "solely on the work", "go further" in the financing of Medicare by the CSG in particular. This time it would reduce employee contributions – a measure of purchasing power rather than competitiveness, without maturity displayed. The socialist candidate also evokes a tax on CO2 emissions it would be at the European level, said his entourage. Responsible for the "social hub" of the Holland team, Marisol Touraine also promises to abolish social niches, beginning with the overtime.

What Safely restore the balance "on the five-year", with an increase in health spending of 3% per year. This envelope would enable hospitals to escape the alignment of their tariffs with those clinics, lower. Holland is also focusing on third-party payer in town doctors to limit the use of hospital emergency rooms. And to reduce the amounts paid out of pocket by patients, without increasing spending Safely, Marisol Touraine threat to frame the excess fees by law in the fall, except that physicians accept by there limits through negotiation. As for medical deserts, it envisages the partial transposition of the device begins to bear fruit among nurses: ban fees for doctors free to settle where they are already numerous.

]]> http://sundialsnakes.com/safely-candidates-clarify-their-program/feed/ 0 http://sundialsnakes.com/tax-revenues-weaker/ http://sundialsnakes.com/tax-revenues-weaker/#comments Tue, 10 Apr 2012 06:32:08 +0000 admin http://sundialsnakes.com/tax-revenues-weaker/  

The main presidential candidates have one thing in common: they announce tax increases for years to come. None of them claim to return to zero deficit by cutting public expenditure only: they know that the remedy would be too much for the French social model. In addition, candidates are aware that economic growth alone will not fill the public coffers.

On this point, economists are even more cautious. Nicolas Sarkozy expects a GDP growth of 2% from 2014, Francois Hollande 2% in 2014 and 2.25% thereafter. "It would be wiser to predict growth of 1.5%," said Jean-Christophe Caffet, economist at Natixis. "And above all, to the same level, growth will generate less tax revenues spontaneously that during the expansion phase of pre-2007", warning Mathieu Plane, an economist at OFCE.

Mechanically, when the GDP is up, after the mandatory deductions. More profit, this means more corporate tax (IS), higher wages, better social security contributions and income tax (IR), etc.. But according to the type of growth, the correlation is stronger or weaker.

The economy of the early 2000s, characterized by a housing boom, was particularly conducive to tax revenue. And transfer taxes, a tax on real estate transactions, they reported to local authorities 9.6 billion in 2007, against 4.7 billion in 2000. The revenues of the ISF have almost doubled (2.2 billion in 2000, 4 billion in 2007). "Growth was also driven by household spending. A boon to the State whose main tax, VAT, sits on consumption, "adds Jean-Christophe Caffet. Finally, the SI was doped up to 2007 by record profits of banks. In a 2008 report, Philippe Marini, then general reporter (UMP) of the Senate Finance Committee, spoke of the hypothesis of a "bubble" of € 10 billion on tax burden.

"Adjustment Period"

A bubble that broke with the financial crisis. Scarce, taxes and social contributions decreased in 2009. The IS has collapsed, yielding 21 billion in 2009 against 51 billion in 2007. Since then, the tax burden returned to their pre-crisis level, with the exception of the SI (39 billion in 2011). "But if there had been no crisis, levies would exceed 23 billion that they are today. There is indeed a structural loss of revenue, "said Mathilde Lemoine, director of economic studies of HSBC.

In addition, revenues will not recover their train of yesteryear. "The growth model due to housing boom and strong consumer is finished. We have entered a period of adjustment, where wages will rise slightly. VAT, transfer duties, but also social contributions will grow less quickly, "said Jean-Christophe Caffet. So over the spontaneous surge of revenues, as before 2007. That's why taxpayers are involved since 2010. And if the economic growth forecast by the candidates was not at the rendezvous, higher taxes might be higher than 50 billion program of Francois Hollande and 16 billion provided by Nicolas Sarkozy.

ALSO READ:

"The silence under the Centrally © budgÃ? Heart of Sarkozy's program

"The impossible budget equation of Francois Hollande

"Presidential © Prev: AR © dà © productions of trompe-l'Å think? It

"Francois Hollande softens its tax bill

For tender in giant offshore wind, it's time for final arbitration. After a series of exchanges non-stop for 48 hours at the top of the state, the verdict is very close and although nothing has yet been formalized, EDF would be the big winner. The electrician tricolor should be assigned by the government three fields respectively in Saint-Nazaire (Loire-Atlantique), Fécamp (Seine-Maritime) and Courseulles-sur-Mer (Calvados).

A total of five fields within the scope of this tender, but the allocation of the remaining two sites – in Saint-Brieuc (Côtes d'Armor) and Tréport (Seine-Maritime) – could be called a later date. The schedule is not known but "a period of discussions should be reopened," does one advance in the entourage of the file no fax payday loans. Some background information might be reconsidered, particularly affecting the price of electricity.

If this scenario occurs, EDF would therefore gain all of the fields for which the government has decided. It would be a victory for the utility but for its main partner, Alstom, which would be commissioned to build and assemble the wind turbines. Two weeks ago, the industry group presented in Saint-Nazaire the prototype of his machine: it has a capacity of 6 megawatts (MW), making it the most powerful wind turbine market.

]]> http://sundialsnakes.com/edf-poised-to-win-the-french-offshore-wind/feed/ 0 http://sundialsnakes.com/corsica-air-france-employees-have-lost/ http://sundialsnakes.com/corsica-air-france-employees-have-lost/#comments Fri, 30 Mar 2012 05:40:10 +0000 admin http://sundialsnakes.com/corsica-air-france-employees-have-lost/  

The 45 employees of Air France in Corsica term employees who were protesting for months to be appointed permanently to a permanent contract (CDI) will not be reintegrated into the company which already employs 500 people in Corsica.

The Court of Appeal of Bastia has indeed delivered Wednesday for compensation ranging from 9,000 to 14,000 euros for each of the plaintiffs, holding that the CSD were "illegal". But she did not follow the decisions of industrial tribunals which included, besides their tenure, payment of 5 million euros in fines. "In December, we proposed to pay more than five times the amount fixed by the court today. The 45 employees had declined the transaction and offers of reassignment to have us come on the Continent, "says an executive of Air France.  

The CGT, one union representative at Air France in Corsica, caused them to go "to the end." Wednesday after the judgment, Albert Malausse, CGT Air France, stayed on the line: "If we do a cold summer, we will. It is necessary that those responsible for this judgment are paying the consequences. We are ready to fight a flawless, probably illegal, and radical as this decision is absurd. "

A posture that will not facilitate the task of Air France, which seeks to reduce the 25 million loss recorded by the company on the Island of Beauty. The Corsican authorities concluded there ten days an increase of 11 million grant awarded to Air France (41.5 million) as part of the public service delegation. It now remains to make peace.

ALSO READ:

"Air France tackles its exception corse

"" The air strikes in France undermine the destination "

"A law to stop 350 strikes per year in the air

Vivendi confirmed Monday, after market, the departure of Frank Esser, CEO of SFR, revealed by Le Figaro. This departure will be effective from the end of the week. Jean-Bernard Levy, CEO of Vivendi, this function takes live indefinitely. No other redesign teams SFR is expected. The announcement of a smooth transition reassured the 10,000 employees of SFR, where the announcement of the departure of Frank Esser, who presided over the destiny of the group for twelve years, has been a bombshell.

Vivendi wants to take the time to find a new boss for its subsidiary SFR, a pivotal moment in its history. Greatly shaken by the arrival of Free in the mobile sector, Vodafone is obliged to rethink its economic model. And why the research group "rare bird". Several names of potential candidates circulate: Bertrand Meheut (current CEO of Canal +), Thierry Breton (CEO of Atos), Didier Quillot (former CEO of Lagardère Active), Michel Combes (CEO Vodafone Europe), Gilles Pelisson (ex- Accor CEO) and Jacques Veyrat (Direct Energy) … But none is needed.

One thing is certain, the chosen one will have a profile of "cost killer" while SFR expects a decrease of 12% to 15% of its EBITDA margin in 2012 and Jean-Bernard Levy said at the Vivendi earnings presentation in early March, the need to "tighten the bolts." The future head of SFR should be able to reassure financial markets, while the declining profitability of SFR weighs on Vivendi. The stock has lost 17% since the beginning of the year.

The departure of Frank Esser was decided Friday afternoon during a supervisory board of Vivendi, and presented Monday at 5:00 p.m. in the Board of SFR. It does not seem to be a coup as often in the wars of succession, but a decision by mutual agreement. Friday, same day that his fate was sealed, Frank Esser was attending a lunch with the entire executive of Vivendi, in which Jean-Rene Fourtou, director of Vivendi, and Jean-Bernard Levy have sent him some very complimentary. Frank Esser, Mannesmann's German came (acquired by Vodafone), is indeed recognized and appreciated by both teams by his peers.

Free to adjust the face

But, before the onslaught of Free Mobile, it was essential to give new impetus to SFR, which lost 200,000 customers between 10 January and late February. "Jean-Bernard Levy knows SFR. We are confident in its ability to revitalize all appear the beginnings of a stabilization of the situation. After the initial excitement, Free began to experience a certain loss, "said a spokesman for Vivendi.

The task does not look easy. We'll have to cut some expenses without burdening the future. "In the hundreds of service developments underway at SFR, it will have to choose between those that are essential for the future and those who can be stopped, says an inside source. Always painful choices that force teams to redeploy réinternalisant projects that were previously outsourced to external service providers. "The suppliers and providers of SFR should be the first affected by this clampdown.

Add paid features

It will also have to rethink the positioning packaging opportunities. Free Mobile face, all operators have launched entry-level offerings, sold only on the Web at very aggressive prices. But where Bouygues Telecom, the first chopping last July, has managed to impose "B & You", followed by Orange with "Sosh" SFR has not really enticing with its brand "Red" launched in late September.

But offers low-cost, direct response to Free, are not the only priorities. The operators were able over time to all-inclusive packages (visual voicemail, MMS, mobile Internet …). We must now all unravel for a basic package comparable to that of Free, which you must add a number of services at extra cost. A vast perspective.

At the initiative of the head of the DGB, the all-powerful central labor Angela Merkel received Thursday, union officials from ten European countries, including François Chérèque, the secretary general of the CFDT. Before the unionists Italian, Spanish, Greek, came to speak of the harmful effects of excessive rigor in Europe … Chancellor pleaded the necessity of fiscal consolidation and structural reforms in the countries in difficulty.

"We came to tell him that the tax agreement, alone, alone will not solve Europe's problems," says the boss of the German DGB. Like the European social democratic parties, trade union representatives are calling for initiatives to boost growth and employment on the continent. "I told him I was going to be jealous of the political class in France, where they are likely to want to meet her!" Welcomed Francois Chereque, who claims to have provoked a smile with his reference to Merkel visit you failed to François Hollande. Before taking his own way in the electoral debate Merkel French: "This is all the more symbolic of being received by the Chancellor, the intermediate bodies are treated fairly contemptuous by the French president." …. ….

On the merits, the chancellor has remained true to its principles. The Greeks, she explained that including the minimum wage in their country is still too high compared to that of the Portuguese. However, it also recognized the need to implement investment programs to support employment in Europe.

"Merkel is the head of the most powerful country in Europe and it imposes its austerity," Judge Chérèque denouncing the "wage dumping" across the Rhine, where wages are "of 5 euros per hour against 10 euros in Alsace in the food industry ", resulting in his relocation to Germany French in this branch. And explain that "the European trade unions have agreed to the adoption of a social pact" based on a convergence in this area including the adoption of a "minimum wage" that would be European "60% the average wage of each country "of the Union.

Merkel told them that Germany could not afford a general minimum wage of € 8 per hour.

ALSO READ:

"Germany – the crisis in the euro area beating down the federal deficit