Sundial of world news

The fall of a six-story elevator building in a housing project in Paris on October 27, revived the debate on the safety of these facilities. Work had been made last month on this lift-de-registered by the company Schindler Somatem, responsible for maintenance. Tenants of the building where the accident occurred will file a complaint against Paris-Habitat, owner, announced their partnership "Tenants angry." The social landlord, he has filed a complaint against X. An investigation is underway to determine if it was a defective part of the manufacturer or poor maintenance. Contacted by The Figaro.fr Schindler declined to comment.

France has 520,000 elevators, accessible to 482,500 people. National Park is the most dilapidated of Europe, half of the devices with more than 25 years and a quarter over 40 years, according to the Federation of elevators no fax needed payday loans.Now, nearly 100 million people use every day a lift. Following a series of serious accidents in 2003, Gilles de Robien, Minister of Works, Transport and Housing, has passed the law "safety of existing lifts" (SAE). State of play:

• High bill for owners

This text imposed new obligations on security, maintenance and technical inspection of elevators. A three-stage timetable was established for this compliance, depending on the severity of identified risks, with maturities in 2010, 2013 and 2018. "At 31 December 2010, the first term, 10-15% of the work was not done," notes Jean-Luc Detavernier, managing director of the Federation of elevators, which includes more than 110 companies (90% of sector).

A cash loan is a great option for those in dire need of cash, but a key factor in determining the need of a loan is understanding what you would have to do without fast cash personal loans in order to get your finances stable again.

The Financial Stability Board, responsible for coordinating global financial regulation, announced Friday on the sidelines of the G20 is a list of 29 banks deemed "systemic". In other words, they are major financial institutions worldwide, which by their size or nature of their activities, are likely to destabilize the world in case of bankruptcy.

It's a surprise, as many as four French banks are listed: BNP Paribas, Credit Agricole, Societe Generale and BPCE. Including Dexia, the Franco-Belgian bank in difficulty, the quota is the tricolor represented after the eight listed U.S. banks, JPMorgan and Wells Fargo, to Goldman Sachs. Are also four British, three Japanese, two Swiss, or an Italian bank (UniCredit) and Spain (Santander).Bank of China, finally, is the only Chinese bank to integrate this "elite" of fat.

These institutions, the list will be reviewed annually, will be subject to increased surveillance by the regulators. In particular, they will be more capitalized than their competitors. While the Basel Committee requires hard capital ratio of 7% for all banks, these institutions must show systemic 1.5 to 2.5 points of additional ratio by 2019. The exact level will be set for each speaker in 2014.

Pay the piper

This is for the authorities to break this hellish dynamic in which the banks seek to become ever larger, more complex, with no risk to it since at the end is always the taxpayer who pays the pieces.

29.9 billion euros. This is the minimum cost per year, calculated by the Institute of the company, the sixteen main proposals of the socialist program and François Hollande for the presidency in 2012.

Measures François Hollande

The Institute has calculated the company eight measures developed by the Socialist candidate in the primary. First, the creation of 12,000 teaching positions per year, or 60,000 on the five-year term. This would cost 360 million euros per year, cumulative $ 1.8 billion in 2017. "These new posts create an implicit debt to the State, which undertakes to pay the pensions of these agents when they reach retirement age," says the Institute. The rating is saltier contracts for generation, exempting charges for three years as a young recruit companies while maintaining a senior job.This measure, the five-year cumulative, burden on public finances from 30.5 to 33 billion.

Another strong measure: the extension of the RSA under 25 years of activity without preconditions. The Enterprise Institute estimates that 120,000 to 200,000 young people could be affected, which would represent an annual cost of 528 to 876,000,000. With "a serious risk of imprisonment in a youth inactivity trap and a significant risk of fraud", the RSA representative "70% of the money diverted to family allowance." The Institute also estimated the cost of the massive development of renewable energy and reducing from 75 to 50% of the nuclear power generation by 2025. The bill? 10.9 billion a year.If this effort can reduce French imports of energy, it will be "on the other hand a negative effect on the purchasing power of households, through the rising cost of energy bills," warns the IDE.

The measures of the Socialist Party

Winner of the primary, Francois Hollande has not yet specified what action the program he intended to resume the PS paperless payday loans. The Institute has calculated the company in the main. The establishment of a public early childhood, a key measure of the project would cost between 4.5 and 5 billion per year. Half the budget of the justice! The bulk of the bill would come from the creation of 360,000 childcare places (3.8 billion per year … just by operating costs), welcoming children from 2 years to kindergarten cost him, by 720 million year.Much controversy as the assistant accused of favoring the creation of a study allowance for trainees is paradoxically less expensive. The Institute's $ 1.3 billion per year. The reason? This new allowance would replace other aid, and especially young people concerned only with limited resources. The bill would particularly high, however (9.6 billion per year), if the allowance was extended to all students, warns the Institute.

In a more traditional vein, the PS promotes the appreciation of the disabled adult allowance (AAH) and better care for older people, through the personal autonomy allowance (APA).According to the Institute, which takes the hypothesis of a revaluation of these allowances by 20% over five years, the AAH would cost $ 1.7 to $ 1.9 billion a year more, and the APA, 1, 5-2100000000.

Cell quantification of presidential projects, implemented by the Institute of the company, will now address the evaluation of the revenue side of the PS program. The question is whether Francois Hollande planned 30 billion of resources to balance its balance sheet. Last outstanding issue: the institute did not look back on the pension reform, suggested by the PS but never clearly put on the table by François Hollande. If this were the case, the encryption would rise much faster.

"DOCUMENT – The costing of proposals of the socialist project

The day after a session sharply higher on Wall Street and in Asia, the Paris market continues to rebound sharply on Tuesday after rising 2.2% Monday. At the opening, the benchmark index of the Bourse de Paris wins 1.22%, to 3192, 69 points. Yesterday on Wall Street indices ended the session up 2.2% for the Dow and the Nasdaq 3.3% driven by the consumption figures in the United States.

Asian markets followed suit with their American counterparts. In Tokyo, the Nikkei was up 1.22% to 8959.75 points while unemployment is again on the rise for the second consecutive month in July and that retail sales fell by 0.3% from June

The correct orientation of financial markets has boosted oil prices.Thus, the Asian markets, the Nymex is trading at 87.49 dollars, he finished in 87.27 dollars in New York, up $ 1.90 from Friday. Brent crude traded him to 112.17 dollars.

On the currency front, the euro continues to rise slightly against the greenback, moving always on top bar $ 1.45. At about 8 am in Paris, the European currency was worth 1.4528 dollars against 1.4510 dollars late Monday.

Fears about the health of banks

The day before, call to order by Christine Lagarde bound for European banks has prompted European leaders to defend the institutions of the old continent. "European banks are much better capitalized today than they were a year ago. This was confirmed by stress tests conducted in July, "assured the Commissioner of Economic Affairs Olli Rehn.

But on Tuesday, it was the turn of the International Accounting Standards Board (IASB) to throw fuel on the fire. The IASB believes that the provisions made by banks and European insurers about their exposure to Greek debt have been dumped, reports the Financial Times. According to the newspaper, BNP Paribas and CNP Assurances are particularly concerned by this risk. This does not prevent the two values ​​rose by 2.86% and 0.20%, to 35.38 euros and 12.35 euros.

The International Monetary Fund (IMF) has also generally lowered its economic growth forecasts for 2011 and 2012, leaving unchanged the forecast of Germany for the current year no checking account payday advance.

Still on macroeconomic indicators will be out today.Before trading, the markets did not take umbrage at the publication of a fall, but strong early sales of new homes in the second quarter in France. Are expected, however carefully in mid-day details of business failures, the business climate and economic sentiment in the eurozone. Overseas, the index of consumer confidence, the housing (Case-Shiller) and the minutes of the last Fed meeting will also facilitate the session.

Arcelor-Mittal is growing in Australia

On the corporate side, Arcelor-Mittal (1.60% to 14.58 euros) is about to take control of Australia's Macarthur, world's largest producer of pulverized coal, in association with the American Peabody Energy . The tender offer made by the European steel amounts to 5.16 billion dollars.Macarthur's management finally yielded to the new offer revised upwards by the Arcelor-Peobody tandem: it is 16 Australian dollars (11.8 euros) per share, against A $ 15.50 earlier.

The semi-annual publications are now many, especially among heavyweights rating. Note that the Y real, Havas, Bouygues, Colas, Vinci, Bollore, NRJ Group and Devoteam detail their half-year after the market closes.

In addition, Ipsen (6.12% to 23.50 euros) announced revenues up 5.3% in the first half.He also announced an upward adjustment of its sales forecast for 2011 in favor of a less pronounced decline than expected sales in general practice.

The French shipowner CMA-CGM said that 2011 should be "a good year" for the group, claiming to have already funded the bulk of its investments for 2011 and 2012. The company said to have $ 1.7 billion (1.17 billion euros) in cash at the end of June, July and have paid $ 550 million bond line, while press reports evoked ago few weeks of possible cash flow problems.

ALSO READ:

"The Cac 40 erases its losses the last two sessions

"Wall Street continues its rebound

Markets hardly reacted to the worsening debt rating by Moody's of Japan, announced on Wednesday. The rating agencies had indeed placed the debt rating under surveillance Japanese shortly after the disaster and the nuclear accident at the plant in Fukushima, in March. Which amounted to prevent a possible future market deterioration in sovereign debt rating of the country. Moody's has been the first to realize the threat, reducing the note to the next level of long-term debt of Japan, due to the massive debt the country.

Moody's said that Japanese debt is nearly double its gross domestic product (GDP) and it increases every year due to the issuance of treasury bills to cover the revenue well below costs, especially since the 2008 economic crisis."Several factors make it difficult to reduce the proportion of debt vis-à-vis the GDP, thus lowering the note," the statement said the rating agency.

Japan is therefore now been rated Aa3, which is the lowest level of debt deemed the most creditworthy. Further deterioration would tip the Japanese debt rating in the "average". However, a further reduction is not currently envisaged by Moody's. The agency says in fact that it maintains a stable outlook on the rating of Japan, given the preference of Japanese investors for the national treasury. Japanese debt is held mainly by Japanese, the country manages to partially finance the budget deficits at low rates, despite its significant debt.Arnaud Raymond, president of Capital Eleanor, recalls that, unlike Greece, whose debt is held more than 50% by foreign countries, Japan's is 98% owned by institutions or individuals Japan .

Political instability

Political instability is another reason that prompted Moody's to lower the debt rating of the country of the Rising Sun. For Moody's, frequent changes in leadership over the past five years have prevented the government to implement economic reforms and tax effective and long term. Fukushima and disaster has magnified the problem, according to Moody's fast payday loan. "The disaster delayed the recovery from the global recession of 2009 and deflation worsened.The economic growth prospects are low, making it difficult for the government to achieve the goals of deficit reduction and to launch a major reform of the tax system and social benefits, "says the agency.

The downgrade should prompt the Japanese government to put its finances and undertake tax reform, including through increased taxes. The decision by Moody's reduces the debt rating one notch lower than Japan over the note of agecnes competitors. However, Standard & Poor's and Fitch, giving it an "AA", threatened to worsen the country to the next level soon, because of its economic fragility.

No surprise for analysts

Hours after the publication of news on the downgrade of debt, Moody's also announced a cut of the degradation of the note of most Japanese banks, including Mizuho Corporate Bank, Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking. "Despite the government's willingness to continue to support the banking system, there is an increasing risk of decline in its ability to provide this support," said Moody's.

The decision by Moody's has not had any significant effect on the yen against the dollar. The course of the dollar has remained stable over the threshold of 76.50 yen. As for the Nikkei index, was down 1.07% at closing, leaded mainly by the decline in Japanese bank stocks.Unlike the stock market panic that had spread to all financial markets after the announcement by another rating agency, Standard & Poor's, the deterioration of the U.S. debt rating, announced that Moody's had on Japan circoncrit effect to the Tokyo Stock Exchange.

ALSO READ:

"Moody's may degrade the note of Japan

"S & P wants to degrade the note of Japan

"Fitch lowers the prospect of Japan

"" Japan is doomed to have slow growth "

"The world as seen by the rating agencies

PSA Peugeot Citroën can overcome the disaster in the first half Japanese. The first French car maker reported Wednesday a net profit after minority interests up 18.5% to 806 million euros in the first half. Revenues rose 9.7% to 31.1 billion euros, driven by sales outside Europe, while trading profit rose 1.8% to 1.16 billion. The agreement gave a turnover of 30.52 billion euros and a net operating income of 1.15 billion.

The effect of the disaster that hit Japan in March was still represented 147 million euros for PSA in the first half. Excluding this impact, operating income would have emerged an increase of 14.7%."In an environment unfavorable market declines of the group in Europe, higher raw material prices and disruptions caused by the disaster in Japan, the company posted a robust performance. This context reinforces the relevance of our strategy to move upmarket Peugeot and Citroen, globalization and improving operational performance, "said Philippe Varin, CEO of PSA, in a statement.

Disturbances yet to come

The negative effects of the disaster of March 11 should not disappear in the second half."In Japan we have had negative effects and we continue to have negative effects because there are a number of components that are in short supply, and force us to change our product offering and, thus, to have a dialogue with our customers a little more complicated, "said Frédéric Saint-Geours, CFO of PSA, during a teleconference.

The problems in Japan, combined with rising commodity prices, should have a negative impact stronger than expected second quarter. "The environment should deteriorate further € 300 million compared to previous estimates," says the group. Degradation that will fail to fully offset by productivity gains and income derived from its performance plan, he warns.

Despite this difficult environment, PSA confirms its target of an increase in profit from recurring operations throughout the year. The supplier Faurecia, which still holds PSA 57.4% stake, has also raised its 2011 targets on Tuesday after a first half marked by strong growth in all regions of the world.

ALSO READ:

"Peugeot maintains its sales in the first half

"PSA Peugeot Citroën is 30,000 units per year hybrid

Today, Genevieve Lethu almost a pioneer. It's been almost ten years since the specialist tableware decided to repatriate most of its production in France. The group did not wait for the rising costs of transportation and wage inflation that affects a part of Asia to relocate its production in France and Europe. While 40% are still manufactured in Southeast Asia in 2002, this proportion has now dropped to 9%. Aim of the operation to improve the quality of its products.

According to Edmond Kassapian CEO Genevieve Lethu and origin of this strategy, the manufacturing conditions in emerging markets were no longer satisfactory. "We see a lot of flaws too: for example, the colors were sometimes not good.Moreover, China does not always meet the hygiene standards required by the manufacture of kitchen utensils, "said he. Three or four people were paid full-time, just for the after sales service. Manufacturing defects that the company, positioned on a medium-high-end, could not pass up. With a significant portion of its customers for export, being a French brand was not selling enough. "Our customers are demanding products made in France, not South-East Asia," said Edmond Kassapian.

Especially these failures were added to other problems. "Our own suppliers copied our collections to sell at lower prices," recalls the CEO. Occur in Asia also means longer production lead times, which complicate inventory management.In addition to transport by ship, which takes about two months, the status of "world factory" in China in some areas it is a work organization to lean. In this context, start or restart a production cycle requires a waiting period of up to six to eight months.

Model difficult to transpose

By bringing back most of its production in France, Geveniève Lethu won as responsiveness and quality. But this shedding was not built without problems. "Finding plants in France and Europe that can ensure our production has not been an easy task. Invest in tools, machinery was necessary. The repatriation was ultimately effective only from 2004-2005, "said Edmond Kassapian.Despite the cost of transportation and the "huge mess" deplored by the specialist tableware of its products made in China, produced in France is generally two to three times more expensive.

Why the model Genevieve Lethu is not easily transferable. "Some activities simply can not be relocated. Products requiring significant labor to manufacture or those who stand out from the competition will cost products in Asian countries. Our relocation was only possible because we are positioning ourselves in the middle and high end because the argument made in France for us was a selling point, "Edmond analysis Kassapian.

ALSO READ:

"Offshoring destroy 36,000 jobs per year

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.

ALSO READ:

"Drought: the boost from the state to farmers

"The French wheat harvest expected to be modest

"Drought: water restrictions for all

Gloomy atmosphere at the Paris Bourse. On Wednesday, the benchmark index in Paris ended sharply down 0.88% to 3837.98 points. Either in the 3850 points, a significant technical threshold, which has not happened since March 18 last. Even bad mood: the London Stock Exchange was down 0.95% at 5808.89 points while in Frankfurt the Dax loose 0.61% to 7060.23 points.

On Tuesday, the benchmark index beyond the Paris Bourse had managed to achieve a small rebound. But since the Fed has made comments that disturb operators, already worried by the weak U.S. economy. In a televised speech in Atlanta, its chairman Ben Bernanke said that economic growth across the Atlantic remained "desperately slow" and that it required the maintenance of a "monetary policy complacency."He said that "growth should recover somewhat in the second half, but remain generally moderate. Delivered just before the close of U.S. markets, the speech was the turning Wall Street into the red. And this morning, Asian stock markets also reacted negatively.

Furthermore, growth of the emerging world should rise from 7.3% in 2010 "to about 6.3% annually from 2011-2013," considers the Bank's global economic forecast published in Washington.

French record trade deficit

In this gloomy atmosphere, the markets will monitor several indicators, mainly European.

– In France, the trade deficit set a record high in April to 7.14 billion euros, against 5.91 billion in March, seasonally adjusted data, the Customs said Wednesday.Moreover, the deficit of state budget stood at 61.4 billion euros in late April against 56.2 billion a year earlier, according to data released Wednesday by the Budget Ministry.

– In Germany, exports fell 5.5% in April on a month and imports by 2.5% over the same period, according to preliminary data adjusted for seasonal and calendar published Wednesday by the Federal Statistics Office . Other bad news, industrial production in Germany fell 0.6% in April on a month, its first decline since December, after rising 1.2% in March, said Wednesday the Department of Economics.

– Economic growth of countries in the euro area was well brought up to 0.8% in the first quarter from the previous quarter, Eurostat said.In one year, growth was also confirmed at 2.5%.

– U.S. stocks of crude oil dropped ten times more than expected last week in the U.S., but gasoline inventories rose sharply, according to figures released Wednesday by the U.S. Department of Energy. Then 20 hours, the Fed will deliver the findings of its Beige Book.

Side currency, the euro lost ground against the dollar Wednesday after being around $ 1.47 the day before. To 17 hours in Paris, the single European currency traded at 1.4575 dollars against 1.4688 dollars late Tuesday. Oil prices were, themselves, without direction in electronic trading in Asia in anticipation of an OPEC meeting in Vienna in the day that might decide to increase production.A barrel of light sweet crude for July delivery took 7 cents 99.16 dollars while that of Brent North Sea crude for delivery same retreated 48 cents to 116.30 dollars.

Banks still abused

No value of the CAC 40 is in the green at closing. On the SBF 120, Groupe Eurotunnel rises of 0.88%. The operator of the Channel Tunnel has won the tender launched by the great seaport of Bordeaux to determine the particular conditions of access to the network of railways, said on Tuesday a statement from the group.Saft rises of 0.80%, HSBC rose to overweight on the title.

Back on the Cac 40, Alcatel-Lucent shows the largest decrease: -3.26% to 3.65 euros.

Sanofi Aventis, valued for his defensive forward timidly from 0.17% to 52.33 euros.

Banks are generally downward: Natixis (-2.07% to 3.50 euros), Societe Generale (-1.39% to 39.79 euros) and BNP Paribas (-0.82% to 52.21 euros ) undergo further profit taking.

PPR: -1.67% to 115.15 euros

The group announced it is extending its takeover offer for the American Volcom until June 16

Hermes: +0.08% to 187.80 euros, LVMH: -1.11% to 116.30 euros

The group returns to its highest in October 2010 and outperformed the other lasting values ​​of luxury in favor of speculation about a takeover at the end of the saddle by LVMH, which already owns more than 20% of a group supported by sustained growth .

Schneider Electric: -1.34% to 110.70 euros

The authority of U.S. markets, the SEC filed a complaint for insider trading around the offer of French Schneider Electric on the Spanish Telvent. According to a warning issued Tuesday on the website of the SEC, this crime would have allowed the authors to make a profit of about $ 475,000 in total through the sale of option contracts Telvent acquired before the announcement of massive Schneider's offer.

Renault: -2.20% to 36.72 euros

The decision of the Court of Appeal of Versailles on the possible recognition as an occupational accident suicide in February 2007, Raymond D, employee Technocentre Renault in Guyancourt (Yvelines), is expected Thursday.The suicide of Raymond D was the third employee of the Technocentre in the space of four months between late 2006 and early 2007.

Belvedere: stable at 61.48 euros

After the decision of the Court of Appeal of Dijon, on Tuesday to confirm the cancellation of the safeguard procedure, the band announced that it "remains open to an agreement with its main creditors in the run to finish with a conflict that has lasted too long. "

BioAlliance: + 1.78% to 6.30 euros

The group wants to create a commercial structure for selling online in Europe's orphan drugs in oncology while pursuing its strategy of licensing agreements for its specialty products.

NYSE Euronext: -0.54% to 24.06 euros

NYSE and Deutsche Börse have announced a special dividend of 2 euros per share for shareholders of the combined group

GDF Suez: -0.49% to 24.43 euros

Group CEO, Gerard Mestrallet, warned Tuesday against Montreal seduction exerted excessive public opinion renewables, noting in particular the high cost of wind power."These are intermittent energy sources that will require large reserve capacity, which will be based on natural gas because of the ease of use of gas turbines," he told the International Economic Forum of the Americas.

Total: -0.20% to 38.21 euros

The U.S. manufacturer SunPower solar panels, partial target of a takeover of French Total, raised its forecast Tuesday quarterly revenue but warned that its margins could suffer from falling prices.

Next recommendation, after Exane BNP Paris yesterday, Credit Suisse rose to "outperform" on the title Michelin (-0.14% to 63.70 euros).

Please note that Air France-KLM will unveil its traffic in May after-hours trading. Valeo and Sopra hold their general meetings and Gifi publish the results of its second quarter after market close.

This Saturday, the employees of the 500 Carrefour Market in France are expected to strike. Rue Maubeuge in Paris this morning, they were a fortnight before their store to answer the call of the CGT and soft petitions and leaflets to customers. They want to be housed in the same boat as their colleagues in Carrefour hypermarkets, according to the association, which, it is a little over a month, have mobilized massively, and with success.

On April 9, in fact, the movement – "historic" by the unions, had allowed the reopening of negotiations with management. The employees were then granted a special bonus of 220 euros gross July 31, the transition from 7 to 10% of discount on purchases (including gasoline) granted to staff and a commitment to renegotiate, the end November and a revaluation of the holiday allowance to go to a 14th month.The draft agreement, which will be endorsed on May 18, also provides for annual wage increases of 2% in March, is correlated with inflation, instead of the expected increase of 1% and 1% in March in October.

Beyond wages, working conditions are up for discussion. The union FGTA-FO deplores the removal of 10,000 jobs over the past five years, and denounced a "new business model based on night work generalized ultra simplified workflow and increased stress for employees.

Fighting the new economic model of the group

The Carrefour group is in the midst of strategic transformation, including its plans for divisions and development of its new hypermarket Planet.Mutations that cause a stir both at the executive level – the CEO France left the group last May 5, two months after the departure of Director – Europe and employees.

At the next general meeting to be held on June 21 next, they oppose the proposed division by the stock exchange's subsidiary Dia hard discount and the 25% of the land Carrefour Property. But their voice is low, employees own about 1% of capital and 1.76% of voting rights. The unions called the Mutual Fund Business (CIPF), which holds 1.33% shares and double voting rights, to say no, and so to endorse the position of the fund Knight Vinke (over 1 % of capital). In total, they would be 4% against the heavyweights Bernard Arnault and Colony Capital, which have 14% stake and 20% of voting rights.According to unions, these operations "purely financial and non-trade" would bring six billion euros to the two main shareholders, Bernard Arnault and Colony Capital.

ALSO READ:

"Crossroads: success of the strike, the talks will resume

"FO sign the draft agreement

The projects of Carrefour upset

"The strike spread to Carrefour Market

"Spain is testing successfully Carrefour Planet