Sundial of world news

For many employees of EDF, is the safety of nuclear plants is at stake They are concerned about an internal memo released Saturday by Le Parisien in France today, which aims to increase the maximum working in nuclear plants during "outages", those moments during which the reactors are closed, including maintenance.

During these periods unprofitable, EDF would indeed be able to quickly restart the reactor by its employees to work harder. The letter dated May 10 and addressed by the deputy director of EDF's nuclear generation, Philippe Druelle, each plant manager, and plans "to request exceptions to the limits to working with the inspectors work" or Regional Labour Directorate. EDF would like to apply a measure "by the summer of 211".

The project raises the ire of unions and employees' concerns. "EDF is organized to legalize abuses Hourly unacceptable and dangerous for employees and therefore nuclear safety," said the CGT. "EDF wants to push through and have hands on working time of its executives, including weekends and holidays, creating a zone of lawlessness, without any legislation on the organization of work "added the daily Annie Thebaud-Mony, director of research at Inserm.

Decreased alertness

While these periods of outages, which usually last from one to three months, is already reflected by an increased pace of work ranging from simple to double, with penalty of night and weekend , employees are concerned about the consequences of such change on their health and efficiency."We do work twelve hours or more is absurd, evidenced by a technical framework of the Chinon power plant. Beyond a certain limit, we can no longer be vigilant to 100% payday loans. " "I do my work carefully so as not to endanger the operation of the site. But it is already to the detriment of my health. Nationally, it is impossible to continue at this pace without consequence, "said another engineer of the Central Blayais in the Gironde.

For its part, EDF denies wanting to increase the working hours of employees. "This is a misunderstanding. [...] It will never matter to executives working 78 hours per week. This is contrary to the values ​​of a responsible nuclear operator, has defended Bernard Lassus, director of human resources group in the columns of Le Parisien – Aujourd'hui en France.This ensures that the meetings with the general direction of work aimed instead to "clarify the organization of work", so as to "allow executives to take their daily rest period of 11 hours."

A technician Areva denounces inadequate security at the Hague

A retired technician from the treatment plant of La Hague nuclear waste warned Wednesday against the "inadequate security" site, which is home to one of the largest volumes of radioactive material in the world. Heard by the Local Information (CLI) of the site, he defended the idea that Areva is expected to build a "cathedral of concrete" against possible projectiles, when the site is currently protected by a "simple metal siding. For if a projectile reaches the pools, which contain the equivalent release of 100 reactors, "it would be worse than Fukushima," he said.For its part, Areva believes that site security is already assured by the existence of contingency plans in case of overflight of the plant.

Measures deemed insufficient. Farmers are almost unanimous in the result of measures announced by the Head of State yesterday in the Charente, including the provision of advances on compensation, exemptions from social contributions and deferred debt.

The President of the Republic "leaves farmers in their thirst," said a statement from Rural Coordination. "The agonizing question of farmers, as how to buy the additional food needed to feed a proper straw-based (for livestock), does not seem to touch the mind of Nicolas Sarkozy," regrets the union. Rural Coordination also reiterated his request for "make available the farmers two million tonnes of cereals in 2011 is intended to produce biofuel."

Another minority union, the Confederation Paysanne, made the same request, and indicates in its brief statement that the announcements made by the president are "insufficient". The union is also seeking the postponement of one year of all maturities of borrowings (2011 paid in 2012 and 2012 paid in 2013) and "zero-interest loans offered by all banks to farmers to aid payments Common Agricultural Policy (CAP) October 15, 2011.

FNSEA satisfied, but relativized

FNSEA, the main farmers' union, is the only one to be satisfied with the measures announced by Nicolas Sarkozy yesterday, saying that the Head of State "became aware of the situation" of farmers and its urgency. Its president, Xavier Beulin, welcomed the "emergency response" proposed.He also welcomed the establishment of a five-year plan to create water reservoirs and reduced volumes of water used by agriculture.

However, the president of the FNSEA expects the figures for the consequences of drought, which should be known in early September. He estimates it will then probably look at more structural measures, and direct payments to certain farms.

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The NYSE playing yoyo on Thursday. After starting down (-0.20% for the Dow Jones), the indices reflected the upward path. About 20 hours in Paris, the Dow Jones gained 0.48% at 12,691 points, the Nasdaq is 0.56% at 2861 points and the S & P advance of 0.51% to 1349 points.

This return is in the green at the same time as the rise in oil prices. The latter, who had also opened lower at 96.96 dollars, recovered after a sharp color correction yesterday. On the New York Mercantile Exchange, the price rises to $ 99.

Caution remains formatting: "Concerns about Europe and the debt crisis with the International Monetary Fund warning of a risk of contagion from the situation in Greece, indicators Chinese earlier this week, The warning from the International Energy Agency on oil demand, it all comes out at once and shower market, "said Phil Flynn of PFG Best Research.

Greece worries

The fiscal situation in Greece still disturbs the meeting. Thousands of Greeks have shown Wednesday, the day of general strike against austerity measures and privatizations decided by the government that seeks new international aid to avoid a debt restructuring of the country.

In the wake of these events, the euro fell sharply against the greenback, falling below $ 1.42 Wednesday. But about 20 hours, the single currency rises.The euro bought 1.4266 dollars at that time against 1.4193 dollars late Wednesday.

Retail sales and producer prices

On the macroeconomic front, retail sales rose slightly less than expected in April in the U.S. (+0.5% against 0.6%), posting their smallest increase in nine months as rising prices Food and fuel accounts for household spending.The producer prices have increased them by 0.8% in April according to figures released Thursday by the Labor Department, more than expected by analysts who had forecast 0.5%.

New jobless claims fell to 434,000 during the first week of May, according to figures released Thursday by the Labor Department, down nearly equal to the unexpected increase in the previous week.

Finally, business inventories rose more than expected in March, while sales posted their largest gain in a year, suggesting that first-quarter GDP will be revised upward, said Thursday the Commerce Department.Inventories rose 1.0% to 1.476 billion dollars, its highest level since November 2008, while economists polled by Reuters had waited an increase of 0.8%.

The side of values

The oil companies, heavyweights rating penalized yesterday by falling prices, contributing to their rise on Thursday. Thus, Chevron gained 0.66% to 102.936 dollars and ExxonMobil up from 0.38% to 81.43 dollars.

Cisco has unveiled for the fourth quarter of 2010/2011 a turnover of 1.67 billion, up 9% and net profits tax of 168 million dollars against 184 million last year. For the current quarter, the software company believes that business prospects are mixed and the current quarter will be "low" according to the leaders. The title loses 6.02% to 16.72 dollars.

The publisher of security software and antivirus software, Symantec (3.40 to 20.07 dollars) has announced earnings per share of 38 cents against 36 cents expected by analysts, and a turnover of 1 , 67 billion also exceeded expectations of analysts who had forecast $ 1.6 billion.

Google Internet group (-0.80% to 531.15 U.S. dollars) will launch next month the first computers using its new operating system chrome, representing a total challenge to the business model of Microsoft with its Windows system.These computers manufactured by Acer and Samsung, will have the distinction of having the browser Chrome only software preinstalled.

The U.S. internet group Yahoo! (-1.51% To 16.95 dolars) is still buffeted stock exchange after revealing that a subsidiary of the Chinese payment service online Alibaba Group, where he has a major stake, was passed under the control of boss Jack Ma of Alibaba

The rating agency Standard and Poor's said Wednesday evening that she fell a notch to "BBB", the note of U.S. chemicals group Dow Chemical (-1.23% to 38.52 U.S. dollars) with a stable outlook, due to the progress of its results and its prospects for debt reduction.

Also note, the leaders of telecom operators AT & T and T-Mobile (+0.13% to 31.42 dollars) clashed Wednesday night on U.S. lawmakers skeptical of their merger at $ 39 billion, announced in March . "Now four companies control nearly 90% of the national market of mobile telephony," said Democratic Senator Patrick Leahy. He called the competition authorities and Communications to conduct an extensive review of the transaction.

With the boom in smartphones, iPhone in mind, insurers are facing a surge of claims. "All insurance plans for mobile phone are deficient because of the iPhone," said one trader. "We are facing both an increase in claims frequency and higher average cost of claims. All this weighs on the technical results, "says Catherine Lanson, communications director of SPB, broker manager at France's leading insurance mobile and handheld products.

On smartphones losses reach 35% against 20% on standard phones. As the average cost, it has doubled from 300 to 600 euros. "Besides the iPhone is over-represented in the portfolio of insurers with respect to its actual weight on the market as it is expensive, it is more fragile and he steals, consumers are more likely to sure, "says Catherine Lanson."Currently, 80 to 90% of claims relate to smartphones," says Anne-Laure Commault, director of mobile offerings from Orange.

Fragile

The case is the main source of complaints: it represents two thirds of claims against a third flight. All operators, claims related to breakage cost 400,000 euros and 200,000 euros for the flight. More fragile than previous generations of mobile clamshell or slider, smartphones with their large touch screen does not forgive the fall or landing in the toilet. This is the case of the iPhone 3 and the iPhone 3G, whose screen break if dropped on the pavement without protection payday loan lenders.Apple has taken this into account on the iPhone 4, where he worked the robustness of the screen.

Today, 6 million French people have provided their mobile phones: 4 million have taken insurance directly from their operator, 500 000 are insured through their bank, and $ 1.5 million through specialized distribution or retail. The rate of insured, reduced to 60 million mobile users, remains low but is rising sharply.

30 to 130 euros per year

Insuring your smartphone costs from 30 to 130 euros per year. Operators and insurers all offer forms for 3 euros, 6 euros or 9 euros per month, depending on the reimbursement ceiling. Despite the explosion of claims, they do not include higher insurance premiums. They rely instead on technological advances that help block mobile in case of theft, making it useless.On breaks, they play a tougher enforcement of the contract. Mostly, they try to stop fraud, which, estimated between 20% and 25% is huge. "Coincidentally, we note the real peaks of claims before the release of a new generation of iPhone," says Catherine Lanson. Insurers are now replacing broken or stolen laptops with identical phones reconditioned. One way to deter misrepresentation!

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Each has experienced: it is always extremely difficult to move from average to a respectable level of excellence, whether you are a pianist or a tennis player. The same is true for nations attain the status of "rich country" is not a foregone conclusion. Even when recording a growth of 10% per annum, and for three decades, which has enabled the Chinese to multiply their individual standard of living in a little over a generation.

Economic development is certainly not an exact science, but the trees do not ascend to heaven. Even in the jungle of state capitalism. There is no example in history where the growing disheveled inflected not only from a certain stage.By examining the career of some forty countries since the Second World War, Barry Eichengreen, Donghyun Kwanho Shin Park and discovered that the expansion slows inexorably past the threshold of 16,740 dollars to the GDP (gross domestic product) per capita. Anxious to establish historical comparisons, the three economists have reduced all data in constant currency (dollars at 2005 prices). Their study is published by the NBER (When Fast Growing Economies Slow Down: International Evidence and Implications for China).

This law, the French and their European neighbors have suffered in the early 1970s. In France, 1973 has been the hinge, GDP individual having reached 16,904 dollars. Over the past seven years – the reign of De Gaulle and Pompidou – per capita growth was galloping at a rate of 4.6%.She fell to 2.2% during the seven-year following that of Valery Giscard d'Estaing, a decrease of 2.4% of scheme. The United States had known since 1968 a reversal of the same nature and magnitude slightly higher (2.5%, according to calculations by three economists).

This break in France coincided with the first oil shock, which our countrymen seem to have still not delivered. Since then, it has ceased to lament the state of "crisis". The French have not realized that they had recently experienced a "golden age a quarter century of rapid growth inaugurated by the Marshall Plan and the postwar recovery," said Barry Eichengreen and his two confreres . Fourastie what John called the "Thirty Glorious Years".

China has a number of vulnerabilities

The scenario is in reality always the same: the reconstruction periods are marked by exceptional productivity gains.They do not constitute a sustainable standard. Farmworkers become industrial country imports the new technologies which increase its effectiveness. But once this revenue exhausted, we must innovate and find other vectors of prosperity. Furthermore the threshold of 16,740 dollars, the three economists put forward another concept: things become more difficult when a country obtains a level equivalent to 57% of GDP in the most advanced economy, one that portrays "on the technological frontier "(the United States in this case).

For its part, China still seems quite distant from these two criteria, especially the second (the Chinese GDP was only 19.7% that of the U.S. in 2007). But should it maintain its annual rate of 10%, it would affect the level of fateful 16,740 dollars per capita in 2014. The danger zone is reached in just three years.Barry Eichengreen prognostic so that "a significant slowdown in Chinese growth is imminent."

It is even more positive that China presents to him a number of vulnerabilities, making the course more difficult to cross than others. The observation of the forty countries studied shows that the transition is particularly difficult for a country to an authoritarian political regime, the industrial workforce is over 20% of the workforce and has a weak currency. Korea offers the previous "one centered on manufacturing exports and helped by an undervalued currency, with a consequent sharp fall in its expansion in the 1990s, culminating in the 1997 financial crisis.

Brazil is a land of opportunity

The study envisages a significant shift for China's annual growth would average between 6.1% and 7% over the decade, and would fall another notch (5% to 6.2% between 2021 and 2030 ). Barry Eichengreen believes that "Chinese authorities are convinced that a slowdown will intervene." Beijing seems sincere when he sets a target of 7% annual growth for the five-year plan 2011-2015.

The new emphasis on domestic demand and services, instead of all bet on the industry and export, is designed to circumvent the curse that threatens the country catch up. Many of them never get out of the "middle income trap" (around 16,500 dollars) for lack of a successful transformation.What they think the French have managed to "obtain the status of high-income countries" and since 1973 the GDP per capita has more than doubled. However, this is not the case in Latin America, said Barry Eichengreen. "Brazil is a country of the future and will remain" in the words attributed to General de Gaulle in the 1960s.

LVMH saw sales growth accelerate in the first quarter despite the disaster in Japan, while analysts had forecast a slowdown in the growth of global luxury goods giant.

Group sales, which opens the dance industry publications, came out to 5.247 billion euros. This amount is significantly higher than the consensus of analysts polled by Reuters, which called for 4.970 billion.

Organic growth (ie at constant exchange rates), it also took analysts by surprise, posting a gain of 14% (as against only 9% expected) and marking a further increase from 13 % of first and last quarters of 2010.

LVMH achieves 9% of its sales in the Japanese archipelago, but to his nugget Louis Vuitton, the proportion reached 16% to 20%, according to analyst estimates.All the fashion and leather goods division of the group, which also marks Marc Jacobs, Celine, Loewe or Fendi, in turn realizes there 16% of its sales. At the Annual General Meeting in late March, its CEO Bernard Arnault had again expressed his confidence for sales in 2011, despite the situation in Japan, which should not affect his view that LVMH in a "fairly limited".

Development of brands

The luxury giant, which has a portfolio of sixty brands including Louis Vuitton, Givenchy, Celine, Moet et Chandon, Ruinart, Veuve Cliquot, Parfums Christian Dior and Guerlain, speaks of an "excellent start to the year continuing trends "in late 2010 payday advance.

"The United States, Europe and Asia are experiencing a strong momentum," said Bernard Arnault group.By branches, wines and spirits increased by 20% over the first three months of the year to 762 million euros, thanks to good performance of champagne and cognac. The watches and jewelry surged by 28% to 261 million euros. Both areas were heavily affected by the global economic crisis in 2009. For LVMH, they continue their "strong rebound in effect confirmed the resumption of demand from customers."

Fashion and leather goods, driven by a Louis Vuitton "organic growth in sales and double digit increases his lead, rises 17% to just over $ 2 billion. Selective distribution (Sephora, DFS Dufy Free) increases from 20% to 1.4 billion euros.Perfumes and cosmetics registered a 9% increase to 803 million euros.

For 2011, "given the geopolitical and economic environment, LVMH will continue to focus its efforts on the development of its brands."

The group Bernard Arnault, who announced in early March, the takeover of Italian jeweler Bulgari, also relies on "the diversity of its businesses" or "the geographic balance of its sales in 2011 to further strengthen its lead in the global market high quality products. "

Turnover up 27%, a net profit rises 17%: Google on Thursday posted quarterly results spectacular … but not enough for Wall Street. Google saw its share fall immediately punished for earnings below expectations and rising costs.

But more than the share price is the rise of new competitors like Facebook and Apple worried. She forced Google to invest heavily to ensure its development in the social web and mobile. The group has hired 1,900 people during the quarter and announced that 2011 will be a record year in number of hires. Google has also invested in marketing to promote its new services, such as the Chrome browser, used by 120 million users worldwide.

Larry Page, co-founder of Google CEO returned in early April, was added to the message symbol.For his first appearance before analysts since his appointment, he made an appearance a few minutes introducing the conference, time to utter 398 words according to calculations by the American press. Brevity that shocked analysts but which reveals the priorities of Larry Page. "There are significant improvements to our core products and in the heart of our business, and we enthusiastically. (…) I am very optimistic about our future. "

Success of Android

These improvements will focus on the search engine, which remains a priority for Google. "We have 90 quality improvements on the engine in the first quarter," said Jeff Huber, director of commerce and local activities of Google.They focus on quality results, but also the integration of a community in its search engine with the recommendation button "1".

Emphasis is also placed on the mobile. Google has made the first Android mobile operating system, whose traffic has jumped 500% in two years. But unlike Apple, which sells its smartphones, Google does not sell phones or its Android software. Strategy: by widely Android (located on 350,000 new terminals each day), Google hopes to develop mobile Internet where it can sell advertising. This already brings in nearly $ 30 billion in fixed Internet.Already, his authority AdMob mobile advertising messages to 150 million handsets Android or iPhone per month.

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The unions had already waved the threats late last March. They put their threats into effect, calling all employees hypermarket distribution group to strike on Saturday to protest against including salary increases for 2011, considered insufficient. The appeal, launched by the FGTA-FP, the majority union at Carrefour (with 40% representation), is supported by the CGT, CFDT and CGC.

In total, the 65,000 employees of the French distribution group are known not to work and show around the shops this Saturday, the day the traditional busy in hypermarkets. Early estimates labor, the movement is widely followed in more than 200 superstores supermarket group. Over thirty sites are completely blocked, workers blocking access to supermarkets.Even when they are not blocked, the strike rate range from 30% to 85% as estimated by Dejan Terglav, general secretary of the FO-FGTA reported in the AFP. When contacted, the management of Carrefour has not confirmed those numbers, always carrying an inventory of mobilization.

From yesterday, union officials expected a high rate of mobilization of employees in a group unaccustomed to large-scale social movements. An impression confirmed this morning. "It's a movement that looks quite memorable. It is widely followed, "said Franck Gaulin, Steward central CGT.Jean-Claude Mailly, secretary general of Force Ouvriere (FOR), is expected today at Le Mans to support the movement.

Insufficient wage increase

While management offers its employees a 1% increase in wages to March 1 and another 1% increase on 1 October, union officials estimate that these increases do not cover inflation announced by 2%. "It does in fact represents only 1% over the year," says a leaflet distributed by the FGTA-FO.Even the promise of recovery to 10% (against 7% previously) discounts on purchases of stores, and the announcement of the reopening of negotiations next Wednesday, will not suffice to bring back the union leaders on their decision.

Moreover, the malaise is becoming stronger on the side of employees on the deteriorating conditions of employment and new working methods since the arrival at the head of the group of Swedish Lars Olofsson, in January 2009.

Opposition to the plans of division

While President Nicolas Sarkozy on Thursday expressed its willingness to link salaries to dividends, the unions could ask for more support for their speeches.For beyond wage increases claimed, employees believe that the demerger proposal by listing the subsidiary Dia hard discount and the 25% of Carrefour Property land would bring six billion euros to the two main shareholders, Bernard Arnault and Colony Capital (14% stake and 20% of voting rights between them).

In the words of Dejan Terglav, secretary general of the FGTA-FO, reported in Les Echos this Friday, the organization also wants the Mutual Fund Business (CIPF) 'vote against the division (during the next meeting June 21 di ed.) CIPF owns approximately 1.33% of the shares but the double voting rights "said the union leader. Bringing to nearly 4% the number of shareholders opposed the project, with the fund Knight Vinke (more than 1% of capital).But for now insufficient to meet a third of votes needed to derail the project.

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And if the natural disaster in Japan changed the game in the folder "Lauvergeon? In a context marked by accidents at Japanese nuclear power plant in Fukushima, which no longer serve and the intense debate on nuclear power it arouses in France, maintaining Anne Lauvergeon, whose term expires in June, at the head Areva could be a source of stability in this burning issue.

Questioned on the issue International TV5-RFI-The World on this assumption, the Minister of Industry and Energy Eric Besson did not rule out this scenario. For him, it is even "feasible". "The president and prime minister called for a clear process, which is to ask an ad hoc committee to prepare a list of potential candidates, said the minister. Anne Lauvergeon, as outgoing president, is automatically included in this list. "

But far from assured when we know it would maintain tense relations with the president and his counterpart EDF Proglio no credit check payday loans. Nicolas Sarkozy has even ruled that it carries a third principal. Ironically, the only woman to head a French multinational received at the beginning of March the support of Jim Rogers, CEO of Duke Energy, the … "EDF American" and client of Areva. "The power producers like Duke Energy foreground select their suppliers based in part on their leaders and their strategic vision," Jim Rogers wrote in a letter to the press.

Among the candidates to succeed, the press regularly cites former Secretary of State for Foreign Trade Anne-Marie Idrac, the deputy CEO of EADS Marwan Lahoud, Commissioner diversity Sabeg or master group Chemistry Rhodia Jean-Pierre Clamadieu.The latter has already announced he will not take the head of Areva. "I'm not part of the process of candidacy for the leadership of the company you mention," he said in late February on the occasion of the presentation of results from Rhodia.

The rating agency Moody's downgraded Monday the note of Greece three notches to B1 from Ba1, and warned it could still lower in the months to come. The Mediterranean country now finds itself ranked at Belarus and Bolivia. For analysts, the outcome is inevitable. "Greece is insolvent and continue to lend without significant reduction of its debt is not a viable strategy," write in a recent analysts Bruegel Institute. Athens returns to its public debt below 60% of GDP within two decades, according to them should be amputated about 30%.

Officially, a restructuring is not on the agenda. But Brussels can not do without thinking about his conditions of loans to countries in distress."The euro area is expected to lower lending rates in Greece and Ireland, two countries that have already appealed to European solidarity," said Monday, the Economic Affairs Commissioner Olli Rehn daily Handelsblatt. "The maturity of the loan to Greece should also be extended to three and a half to seven years" to loosen credit conditions "too strict".

After haggling

This rate cut may be hard bargaining behind the scenes when the Heads of State and Government of the eurozone will meet Friday in Brussels for an extraordinary summit. Last week in Helsinki, Angela Merkel made clear that there would be counterparties to any eventual loosening of the device.In this case, negotiations could include corporate taxation, while Ireland defends a very low tax rate than its European partners see as a form of tax dumping.

Another sensitive topic, the abandonment of wage indexation on inflation is no longer included in the document prepared by the chairman, Herman Van Rompuy and chief executive Jose Manuel Barroso. In all, a sanitized version of the "pact of competitiveness" that Franco-German leaders discuss the eurozone Friday, including raising the retirement age or the inclusion of a "rule of Golden budget. But on all these issues, Europe must make a timely response and to see a united front cash advance no faxing. For another danger lurks already on the forehead Portuguese one.

Greek degradation was still climbing the Portuguese borrowing rate at 10 years, to 7.58%.An unsustainable level for analysts, who bet on an imminent call for help from Lisbon. Fund bailout (FESF) would again be involved; EU leaders have until March to complete the reform process.

Athens judge agencies 'irresponsible'

Lowering three notches on Monday of the sovereign rating of Greece decided by Moody's, making the country move back into the category of risk states having only "low security long repayment term" , caused a very unusual anger in Athens.

This reduction is "completely unjustified, because it does not reflect a balanced and objective assessment of conditions under which Greece is facing now," retorted violently Ministry of Finance said in a statement more than a page.The agency insists on actually all that remains to be done if the country can only borrow again in the financial markets and regrets that, despite the 6-point deficit reduction achieved by Greece in 2010 – or only a year – this country is failing to increase its tax revenues sufficiently.

It also stresses that, vis-à-vis the euro area, even if the partners agree to relax the terms of the loan granted last May in Athens, the result can only work by "reducing the rate and magnitude of the deteriorating situation in the country. " A few days before the Extraordinary Summit of Heads of State of the euro area, this decision appears in the eyes of Athens as the kick ass.The Greek government considers the rating agencies completely "irresponsible", while, for its part, the European Commission does not wish to respond, showing, it seems, a certain embarrassment.

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