Sundial of world news

New thunderclap in the daily press. After the economic daily La Tribune and Le Monde in late May in the coming days, it was the turn of the Parisien and Aujourd'hui en France to seek a partner. Yesterday, the Amaury group acknowledged having asked the bank Rothschild and Co. to conduct a strategic review to examine all options to bring to the whole compound of general daily Le Parisien, Aujourd'hui en France, their printing, their distribution system (SDVP) and the governed. This announcement confirms the information revealed in the morning by the Lettre de L'Expansion. Le Parisien is facing a difficult situation and the need to invest heavily in growth drivers such as new media and online paris.With the help of the bank board, the group chaired by Marie-Odile Amaury consider all possible forms of partnerships, the simple pooling of resources to the partnership business, or capital. "Many policy options are under scrutiny. Special care is applied to research alliance in the new media or creating new products. A partial backing of Paris is part of the perimeter of the study but no decision taken yet, "states the group in a brief statement issued yesterday evening. Internally, the wording is "in shock … Little has filtered communication internally and few would actually believe even if the tension was palpable from the start in the fall of the chief editor," says one reporter.

The statement said however: "The family wants to keep Amaury majority control of his group to continue its investment policy and ensure its development as it has for a long time." All these activities would, as the group is profitable and coupled both titles – Le Parisien and Aujourd'hui in France – had in 2009 paid circulation of 488,553 copies France, down 4.7% (OJD).

Implemented in 2011

Another certainty, this strategic study does not include activities with sports daily L'Équipe and ASO, the organizer of sporting events like the Tour de France. The time that the strategic review being conducted and that strategic options are discussed, no concrete implementation should take place before 2011.

For several weeks, rumors spoke of a possible sale of the entire group Amaury.The refusal, in February, from the group to take the presidency of the Cooperative Parisian dailies in Presstalis had raised some questions. Groups such as Lagardère and Bolloré had then been cited as potential buyers. The Lagardère group is familiar with the file because already owns 25% stake in Amory, against 75% to the family Amaury. Last week, Arnaud Lagardere had also reiterated its interest in the family group, saying "buyer of all or part (…) if the family does not want it, we will respect and then go forth." Problem, its interest mainly concerns the sports industry (ASO), as he himself pointed out at the launch of its new sports center, Lagardère Unlimited. Arnaud Lagardere has any future lunch with Marie-Odile Amaury.

"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 trustees will have no choice. Friday, March 19, Herv? Novelli, Secretary of State for Trade, has signed a decree listing the benefits which must be included in the annual package paid by owners to day management of the building. Only services that are not included in this list will therefore in future be charged as extra by the trustee.

For example, the detention and the retention of certain records (plans, rules of ownership …) are included in the package. Same principle for the holding of general meeting, whichever occurs on the days and time slots indicated in the contract.All new contracts signed after July 1 must comply with this new rule.

This order lists the tasks of daily management purposes only established by the National Council of Consumer Affairs (CNC), which he believes should not be charged extra. The vast majority of contracts trustee voluntarily complies this list, as their unions had requested them. Most owners have therefore already contracts under the new rules. But a small minority of trustees continued to ignore. The order will force them to toe the line.

Herve Novelli has however not been satisfactory associations consumer no fax cash advances .They wanted the order to go further, especially to cut short the abusive practices of some trustees accused of inventing such new costs (administrative costs for time spent making photocopies for example) and to charge off package.

"A very imperfect compromise"

Association officials condominium (Arc) was also condemned in advance the draft order, saying it would allow such trustees to continue to pay more to hold general meeting in the evening. For the General Confederation of tenants, that order is "a very imperfect compromise between consumer expectations and resistance professionals.It gives no definition of the current management, poses no limit to the abuse of special services and create difficulties of interpretation concerning the list of benefits. "

But Herve Novelli does not intend to abandon this topic. He asked the Committee on unfair terms in order to have deep expertise on the unfairness or otherwise of all clauses in contracts.

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The Committee approved the December 8 and 9 "advisory for a package of proposals to strengthen regulation of capital and liquidity with the objective of strengthening the banking sector," he said in a statement.

These measures will "respond to the lessons of the crisis in the regulation, supervision and risk management of banks," said the committee.

The proposals for capital and liquidity will strengthen the banks and create a financial banking system and healthier, "said the chairman, Nout Wellink, who is also president of the Dutch Central Bank.

It is, however, that a "consultation document" and not a final text, recalled Wednesday a spokesman of the Bank for International Settlements (BIS) in Basel, including hosting meetings.

The 27 "wise men" had already announced in early July an increase of Basel II, introduced in 2004 and requiring banks with a capital ratio weighted overall risk incurred by financial institutions.

Avoiding a new "Lehman Brothers"

To avoid the disastrous consequences of a new financial crisis including the collapse of financial institutions of systemic importance, as the bankruptcy of U.S. bank Lehman Brothers in September 2008, the Basel Committee grilled for several months on a building rules governing the banking sector.

In his new proposals, the committee wants to strengthen the quality and transparency of the core capital Tier 1 (core capital of a bank), allowing institutions to better absorb potential losses.

He also wants to improve the level of capital to protect facilities including activities on derivatives and repos (repos).

Debt ratio

Banks should also establish a ratio of debt to contain their debt, financial buffers to cope with difficult situations and a minimum level of liquidity.

The impact of these measures on the sector should be analyzed in the first half of 2010 with the aim to introduce by the end of 2012.

The committee, founded in 1974 and composed of the governors of 27 central banks worldwide, "will ensure that the implementation of new standards is consistent with the financial market stability and sustainable economic growth," assured Nout Wellink.

Central bankers also want to introduce a period of tolerance and accompanying measures "for a period sufficiently long to allow a smooth transition to new standards.

Around 12 h 20, the CAC 40 rose 0.7% to 3770 points. The confidence seems to come on the market. Traders were cautious in the morning while Bank of America has trouble repaying the $ 45 billion loan from the state without affecting the level of its own funds and that rumors of a massive increase of capital around the title .

Values follow

Michelin (+1.2%) recorded a turnover down 10.9% in the third quarter to 3.75 billion euros, due to declining world markets tires.The decrease in sales amounted to 12.5% in the first nine months to 10.9 billion euros.

Dassault Systemes (7.29%) recorded the largest increase in the DTH after announcing it bought IBM's sales and customer support related business applications lifecycle of products, for 600 million dollars.

Societe Generale (-1.15%) denied information published in Le Monde, which referred to a proposed alliance between the bank and Credit Agricole (-0.64%). Moreover, the bank will abandon its green activities in retail banking in Uruguay for "strategic reasons" to focus on Europe and the Mediterranean.

Publicis (+1.36%) reported a sales decline for the third consecutive quarter, by 5.3% to 1.047 billion euros.The group emphasizes that "The fourth quarter should be better on the third, the market for Publicis.

Alstom gained 0.75%. His arm Alstom Transport will remove 500 jobs in the United States on an assembly of equipment. Title Alstom rises of 1.23%.

Plastic Omnium (-1.63%) announced a consolidated turnover of 1.742 billion euros over the first nine months of 2009, down 16.4%.

Faiveley Transport (-9.21%) displays the second quarter of 2009/2010 a turnover of 198.5 million euros. The first half of the year, the group's activity amounted to 414.6 million euros, an increase of 8%. Faiveley lost 0.86%.

The turnover of NextRadioTV (0%) stood at 82.1 million euros at September 30, 2009, down 3%.

The turnover of Manitou (-2.89%) fell from 47% in the third 2009 at 146.7 million euros."The business continues to decline (especially due to agricultural market disruption) but slower than earlier this year," the group said.