Sundial of world news

The markets took fright on Friday night after a new European cacophony. Greece had threatened to leave the euro in discussions with the European Commission, reports the website of German magazine Der Spiegel quoted a government source in Berlin. The major European capitals have refuted this information.

"These items are a challenge, undermine the effort of Greece and the euro and serve speculative games," said the Greek finance ministry said in a statement. "We did not discuss output of Greece in the euro area, we all think it would be a stupid option," added the president of the Eurogroup Jean-Claude Juncker. "The assumption of an outflow of Greece to the euro area is completely fanciful", also assured Bercy.

Despite denials by the French, German and Greek, the single currency accelerated its decline against the dollar.Friday night shortly before 22:30, the euro lost nearly 1.4% to 1.4338 dollar. Rumor sign a new stage, and this information is disturbing. It is not surprising that the euro will weaken, "said one analyst at a U.S. bank. At the same time, the cost of insurance against a collapse of the Greek debt ("Credit default swaps, or CDS) jumped from 74 basis points to a record 1,370 basis points, according to Markit.

Meeting in Luxembourg

An emergency meeting, was held between some finance ministers from the eurozone. Jean-Claude Juncker as a German government source quoted by AFP on Saturday, it was denied solely on Greece.

"These are meetings that take place at irregular intervals, and mainly" the members of the euro area as the G20, such as France, Germany and Italy, the source said German.It argues, the discussions covered a wide variety of topics, including the regulation of financial markets, with Portugal, but also the financial situation of Greece. The Greek Finance Minister George Papaconstantinou also confirmed to have attended the meeting Friday.

A debt restructuring envisaged Greek

According to the Greek press on Saturday, new support measures have been studied. The financial daily Naftemboriki referred to the lengthening of bonds maturing this year and in 2012, leaving Greece a breather. According to another newspaper, Kathimerini, the objectives of reducing the public deficit could also be pushed back two to four years, or interest rates in exchange for an extended break of two years, during which the country does not pay interest.

Contradictory statements are troubling indeed the euro area in recent weeks about a possible debt restructuring Greek. Lars Feld, one of economic advisers to Angela Merkel, considered by example on Sunday that the restructuring is "the only way forward so that Greece is a little relieved that creditors and help to solve the Greek problem." Jean-Claude Juncker for his part assured that this option had been ruled Friday. While stating that the possibility of a new adjustment program would be discussed at the next meeting of the Eurogroup on 16 May.

The purchase marks the final small-flowered happens next June 30th. But in his interview in The Tribunevendredi, president of Yoplait Lucien Fa remains confident about its future within the group. It would even be based on General Mills, the future owner of the French brand, to expand abroad, especially in emerging countries. Said Lucien Fa are even willing to adjust the income and price to new consumers. "Dairy products are among the few categories of food products in real growth in these countries because, in addition to the taste and the health aspect, they are convenient to use and relatively cheap," said Lucien Fa

Yet General Mills, is not well known on the international market, carrying nearly 80% of its business in North America.But that does not worry the president of Yoplait, convinced that the American group did not have a good vision of the international market. "The interest of General Mills is to keep the factories in France and the research center, even to consider deploying more in the world," said Lucien Fa La Tribune totally free credit score.

Direct competition with Danone

The president of Yoplait also said to be reducing the gap between brand (7% global market yoghurt) Group Danone, the world leader (21%). "The Chinese have moved from a consumption of 0.3 to 2 kg per capita per year in ten years, while the French consume 35 kilograms, imagine the potential!" He added.

At the general meeting of shareholders on Thursday, Danone CEO Franck Riboud also addressed the question of redemption of its direct competitor by the group General Mills."This operation does not change anything because we were competing in every country in the world with these two actors," he said, noting that General Mills has been the franchise of Yoplait USA.

The next rise in gas prices is confirmed. The Commission for Energy Regulation (CER) announced Monday it has given the green light to GDF Suez to raise its rates 5.2% on average from 1 April, as announced some weeks ago by Le Figaro. After the price increases already performed in April and July 2010, respectively 9.7% and 4.7%, inflation of gas prices is 21% over one year and even 61% Since July 2005, according to calculations by AFP.

The bill for 10.8 million households connected to natural gas should increase an average of 45 euros per household.The CRE said that for the 6.1 million consumers who use gas heating, the average increase will be limited to 4.9%.

Normally reviewed every three months, gas prices had been frozen since July 2010 at the request of the government after the two major increases occurred in 2010. The formula used to reassess the gas prices at each maturity was also amended at the request of the Commission for Energy Regulation, to reflect more accurately the costs of supply of GDF Suez, taking particular account natural gas prices. According to the CRE, the increase in first performed in April 2011 would have amounted to 6.5% if the previous formula was applied.

"Crushing blow"

Gas prices also depend on the evolution of those of oil, Brent and the euro-dollar parity.Today it is mainly the sharp rise in oil prices, which soared in the wake of the Arab revolution, to reach almost $ 120 a barrel, which explains the rising cost of gas prices.

In early March, the Energy Minister Eric Besson had estimated that the next rise in April would only serve to "cover increased costs of supplying gas to our country." "This increase of 5% generates no additional margin for GDF Suez," he assured. To fight against fuel poverty, Eric Besson had then also announced an increase of 20% of the tariff reduction granted to low-income households under the social rate of gas.

The consumer association UFC-Que Choisir judge his side a further increase of 5% is a "blow unacceptable from an economic standpoint."

ALSO READ:

"The war disrupts oil in Libya

"The energy prices overwhelm the more modest

»INFO ON DEMAND – Gas: the price increase which is discussed

For this last week's meeting, the CAC 40 struggled to take off, after surging 1.41% on Thursday. The index in Paris rose 0.20% to 3976.95 points. In London, the FTSE rises 0.33% to 5900.57 points while in Frankfurt the Dax advance of 0.12% to 6942.03 points.

The caution is when the problems of sovereign debt of countries of the European Union back to haunt the markets. Fitch and Standard & Poor's (S & P) lowered the rating of sovereign debt by two notches from Portugal, because of "increased political uncertainty" that has shaken the country since the resignation of Prime Minister Jose Socrates.

European leaders are meeting just since Thursday in Brussels to find a way to fly to the rescue of the country and avoid a domino effect.They endorsed the night of Thursday to Friday a comprehensive system of defense against crises of debt that carries the actual capacity of the Fund's lending support to countries in the Eurozone in trouble from 250 to 440 billion euros.

The Japanese nuclear supervision

In addition, the Japanese nuclear situation remains worrying. This Friday, the operator of the plant in Fukushima, Tepco, said that the work of rehabilitation of the plant could take another month because of the difficulties encountered by workers to cool the reactors.

In Libya, fighting continued between armed forces of Colonel Gaddafi and the coalition forces.The NATO countries have agreed on Thursday to take command of military intervention and will next week over the coalition led by France, Great Britain and the United States.

U.S. GDP revised upward in 2010

However, operators should carefully monitor the indicators of the day. On the menu this Friday:

– French GDP in the fourth quarter. Insee said Friday it has revised upwards to 0.4% growth in gross domestic product of France in the fourth quarter of 2010 compared to the previous quarter. A first estimate published on Feb. 15 gave an increase of 0.3%.

– The French consumer confidence has deteriorated more than expected in March, returning to its level of last July partly because of fears about price trends, shows the monthly business survey released Friday by the INSEE .The composite indicator of consumer confidence has emerged after 85 to 83 in February.

– Money supply M3 in the euro area rose by 2% in February (+1.5% in January).

– The barometer Ifo business climate, the main index of business confidence in Germany fell to 111.1 points in March, ending nine months of increases in a row and a record high of 111.3 points in February, according to figures released Friday.

– Overseas, economic growth accelerated sharply in the fourth quarter – GDP grew by 3.1% against 2.8% forecast by the Ministry of Commerce and 2.9% by analysts – allowing States USA finished 2010 on a rise better than expected at 2 paydayloans.9%, according to figures released Friday in Washington.

As for currencies, the euro was stable against the dollar at 1.4166 dollars against 1.4168 on Thursday.

On oil markets, a barrel of light sweet crude for May delivery yielded 3 cents to 105.57 dollars. That of Brent North Sea crude for May delivery gained 21 cents to 115.93 dollars. "Oil prices remain high due to geopolitical tension and underlying factors that support lessons, and this dynamic market seems set to continue," note analysts at Barclays Capital in a note.

Values ​​to follow

Farm Credit: + 2.22% to 12.20 euros

Farm Credit has the highest increase of ACC on Friday, while BNP Paribas qu'Exane initiated coverage of French banks with a buy recommendation on the green bank.The analyst opinion adopted a "outperform" on the Crédit Agricole, with a target price of 16.70 euros.

Edenred: + 0.33% to 21.34 euros

Edenred the group's title, after the split in July with the Accor hotel group, continued his progress on Friday, still worn by various rumors about a possible takeover of the company or paying a special dividend. The work took more than 18.5% over the last five sessions

Eurazeo: + 5.03% to 55.75 euros

The group announced Friday the creation of value target of two billion euros by 2014, a goal that comes as the investment company just return to profit in 2010.Moreover Eurazeo and fund Colony Capital exclude launch a bid for hotel group Accor, which they together hold 32.79% of voting rights, to come into compliance with new regulations, said Friday Patrick Sayer, Chairman the Executive Eurazeo.

Schneider Electric: + 0.72% to 119.40 euros

The group announced Thursday it had acquired US Summit Energy specializes in services for Energy, for $ 189 million.

Lagardère: -0.45% to 30.03 euros, Vivendi: + 0.25% to 19.74 euros

Canal + will launch at the end of a free television channel, announced the CEO of the encrypted string in an interview with Le Figaro.

TF1 (-4.02% to 12.90 euros) and M6 (-2.52% to EUR 18) react badly to the news.

Lafarge: + 0.84% ​​to 44.25 euros

Based on a review of the MFA, the Egyptian Sawiris family increased its shareholding in cement producer of over 14% in March.

EDF Energies Nouvelles: -0.53% to 35.75 euros

The group announced Thursday it had signed two contracts in Canada of electricity supply in 20 years with Hydro-Quebec for wind projects totaling 49.2 megawatts.

France Telecom: + 0.03% to 15.69 euros

Polish operator TPSA its announced Thursday it had sold its subsidiary Emitel $ 1.7 billion zlotys (423 million euros) at the bottom of Montagu Private Equity.

The Bel Cheese must publish their annual results this Friday.

In the 2000s, they are scooters that are purchased in groups at the lowest price possible on clust.com. For several months, cosmetics and sunglasses sold off at bargain prices to compete for the Internet on sites like Groupon Dealissime or who provide promotional offers provided to achieve a minimum number of buyers.

And soon, the mechanics of buying community will also afford the houses. That, at least the bet made by Serge Benichou, founder of the social network of real estate businesses-urban profil.com. He plans to hold from 14 March to 14 April 1 internet sales of a Parisian building of 850 sqm in bulk purchase.This should kick off a sustainable supply, called GroupUP, whose mission is "to enable groups of buyers or investors to buy a whole and simultaneously a property," says the organizer in a statement.

His project is not the first bulk purchase unusual: in the online banking Monabanq, the rate of pay on savings and varies depending on the number of subscribers, and Capital Games, bunch of video game companies to Ile-de-France, organized the bulk purchase of market research.

BNP Paribas is continuing its shopping. While the French bank has become the second European bank following the acquisition of Fortis at the height of the crisis, she joins a company controlled by Belgian financier Albert Frere to launch a takeover bid of 1.5 billion euros over the minority shares of Compagnie Nationale à Portefeuille (CNP), according to the Belgian authorities. BNP Paribas and Albert Frere already hold, directly or through their joint holding Erbe, 67.3% of NPC.

In financial terms, the offer is launched by the company Fingin, totally controlled by Erbe, and relates to the 28.3% stake in NOC currently held by minority investors (the remaining 4.4% are treasury CNP) . According to the Banking, Finance and Insurance Commission (CBFA) in Belgium, offers Fingin 48.64 euros per share NOC, is listed on the Belgian BEL 20 index.The action NOC having closed Thursday at 40.31 euros on the Brussels Stock Exchange, the offer price represents a premium of well over 20%. The operation would be a bargain: some analysts value the NOC to a higher intrinsic value 51.90 euros per share.

Accordingly, the holding company NOC, which covers in particular its interests in the unlisted sector would be delisted. And withdrawal could kick off a broader reorganization of the galaxy Belgian billionaire Albert Frere, a sphere with multiple stages.

ALSO READ:

The results of BNP Paribas are worse than expected

"Brother Albert: his estate" settled "

Atos Origin has more than tripled its net profit in 2010 to 116 million euros and has "achieved its objectives." Without taking into account exceptional items, net income amounted to 218 million euros (+11%). The computer services company also released on Wednesday morning a turnover of him, down 3.5% over one year to 5.02 billion euros, as expected by financial analysts.

As for the operating margin, it amounts to 337 million euros, representing 6.7% of turnover, or the top of the range estimated above.Finally, the orders have registered an increase of 7% over the past year, to 5.6 billion euros, including France, Rexel new contracts with EADS and Michelin, the Netherlands and Philips ING and still in Germany with Karstadt.

A publication of no great surprise, but Thierry Breton, CEO of Atos Origin is pleased that the group has "achieved its objectives," including that reset the counters in its net debt – excluding acquisitions – to zero. "This puts the company in the best conditions to accelerate the integration of Siemens IT Solutions and Services (SIS)." Together, the two groups will form the new European leader and world number seven, by generating an estimated turnover of 8.7 billion euros for 2010, with a workforce of 78,500 employees worldwide.A sales level similar to that produced by Capgemini, the other great French actor of IT services in 2009. For 2013, the turnover of Atos-SIS is estimated between 9 and 10 billion euros and cost between 7% to 8%.

To a great year 2011

The boss said he also "confident for 2011" and anticipates for the next fiscal year "a slight organic growth and an operating margin between 7.2% and 7.7%.

Atos Origin has decided to propose at the next general meeting the payment of a dividend of 50 cents under the year 2010.

ALSO READ:

Atos acquires IT services from Siemens

"Atos Origin placed on payments via mobile

This could be a consequence of the reform of the taxation of wealth: higher taxes on capital gains realized on the sale of stocks, bonds, mutual funds. That is to say capital gains securities. Millions of French are so concerned, because the famous transfer threshold below which households could escape taxation is removed.

Through 2010, individuals who were making less than 25,830 euros in sales per year paid no tax on capital gains. Suffice to say that the exemption was the rule, most 5 to 6 million small shareholders selling for less than 25,830 euros per year. According to statistics presented by the Bercy parliamentary working group to consider the tax reform, only 153,000 households in 2009 paid a tax on their gain security.Only this small number of households has actually suffered the latest increases in taxes and social charges (the puncture from 29% of a capital gain in 2008 to 31.3% in 2011).

Starting this year, the tax is general, whatever the amount of the transfer. The department wrote himself in his paper presented to the Working Group: Due to this measure, "the number of taxpayers is expected to increase dramatically."

In this context, the temptation of some lawmakers to increase taxes on securities concern. "To finance the tax reform of heritage, it must, among other things, raise the draw in excess of 31.3%, advocates centrist MP Charles de Courson.An option also defended by the UMP Michel Piron that even considering that capital gains are taxed at the tax schedule on income, the marginal rate scale which rises to 41%.

Unfavorable to these solutions, Gilles Carrez, the rapporteur UMP budget to the Assembly, calls him for not coming into force of an advantage to come: "It is anticipated that from 2012, capital gains securities held for six years and older receive a discount of one third each year. This amounts to a total exemption in 2014. Remove this device that destroyed the tax base. "

The horizon darkens

Nothing is decided yet. "But these trial balloons are concerned about our customers. The French fiscal instability is a real problem, "says Cyril Valentin, a lawyer at Freshfields."For the wealthy, the issue of tax exile arises again," adds Sandy Quilici, director of engineering heritage to the bank Pictet. And for good reason. Always according to statistics from Bercy, stocks, bonds and other social rights represent between 67% and 68% of the assets of 100 000 French richest (by income or wealth).

Certainly, there is exemption scheme which does not seem threatened: the leaders selling their shares for SMEs to retire. "But the conditions for benefit are numerous, so this exemption is far from covering all cases. And especially not that of young entrepreneurs, "says Nicolas Leclercq, a tax credit to the North. In short, for most, the horizon may darken.

"Wages, bonuses, working hours … an inventory edifying

"Read report (pdf)

The Court of Auditors is preparing to publish a highly critical report on the Great Sea port of Marseille. In this document, including Le Figaro has obtained a draft, working conditions and remuneration enviable some of its employees and the situation of "social blockage" of the harbor is culprit. The final report will be published on February 8. His revelation comes in the open social conflict: Tuesday evening, the negotiating meeting on the consideration of the hardship in the business of cargo handling between the CGT Union ports and management companies handling nothing given.

Violence without consequences

Drivers of cranes and gantries, key employees of major seaports, under the port reform passed in August 2008, should be transferred to the private sector do not work effectively as 14 hours per week and 12 hours Fos Marseille, given the organization by teams of two drivers for a crane or a gantry, absences and the rule of "finite-party", the report of the Court of Auditors. Their monthly salary is between 3500 and 4500 euros net, including gratuities, still illegally paid by the stevedoring companies despite a call to order of the Court in a previous report. However, only the Italian ports of La Spezia and Genoa are experiencing lower productivity than Marseille.The implementation of the reform should allow "seriously consider organizing handling to restore the GPMM every chance in the competition in terna tional," said the Court.

For, although it recognizes the comparative advantages "undeniable" port of Marseille, positioned on the route between Asia and Europe, and particularly easy to access compared to some competitors, the Commission stated that " except in the cruise, he continues to lose market share m ar payday loan. For judges, "one of the key factors, if not the main, this decline is due to the insufficient reliability of the port, due to a deteriorating social climate, with alternating periods of calm and crisis, often violent, in a context where a union (the CGT, Ed) dominates all others. "And, faced with this situation, judges link "a commitment to reform disintegrating too often, particularly for lack of sufficient determination of the authorities of the State, facing a social crisis and the extreme tension that accompanies" .

The report notes the position of watermark fluid and not always consistent authorities in the bidding of the CGT, which led to an inextricable situation."There are shortages at the port of Marseille that applies to the normal rule of law, where everyone takes his role in the economic and social debate, but where the limits of democratic debate are not crossed," said the judges, who insist conclusion "to the leaders but also guardianship GPMM departmental and local representatives of the state to penalize or punish do, drifts accompanied by violence, including systematic complaining!

In a power struggle often unfavorable, port officials have not always been of the prosecution of violence which would have deserved and have often yielded to the bidding union.

According to the letter dated Friday, brought to the attention of Figaro and sent by registered post to "senior position III C" holding the position of "Director of Front vehicle projects since 2006, the automaker said it had received" an anonymous tip involving namely, because (his) supervisor, Mr. Balthazard and indirectly Mr. Tenenbaum, Deputy Program Director electric vehicle "indicating that they have received" bribes ".

Explaining having initiated an investigation, "the responsibility of the compliance" of the company, submitted on January 6 in the "Compliance Committee" – editor's note: "Ethics" – Renault wrote that it "appears from these investigations than have "received money from foreign sources, leading to the conviction, given (its) responsibilities in a vital area for the future of the company (he has) given in exchange of strategic information for the company. "

Renault estimates, without providing details, that "these extremely serious acts indicate an intent to harm the company and constitute a serious and obvious to (its) obligations of confidentiality and loyalty to the company (..)»..

"My client knows nothing about the case against him"

Considering himself "unfairly hurt," Rochette Bertrand decided to strike back against the voices of his lawyers.

His advice Me Christian Charriere-Bournazel, intends on Monday sue for libel direct quote non-public proceedings before the police court. It refers to "the signer of the letter and the Renault is civilly liable," said the former president of the College. "I want to hold those responsible for the Renault to give us what they consider their evidence, since they did not have the reflex to give live to debate as they are now break the life of my client without having taken the precaution to say exactly why. "

In addition, Ms. Charriere-Bournazel has announced its intention to go as fast with Jean-Claude Marin, Public Prosecutor of Paris to learn the specifics of the complaint filed Thursday against X by Renault for "industrial espionage ."My client knows nothing about the case against him, he is put in food to the public and must be justified on the facts which we understand nothing, tenor Parisian rebels. We feel the heart of a trial of the largest Soviet era … "

On the social side of the record, My Marie-Sophie Rozenberg and Sabrina Gabyzon will enter into early next week the Industrial Tribunal to contest the dismissal of Bertrand Rochette saying that "the contents of the letter does not state specific allegations and Renault is based on mere belief can not justify a serious fault. "Both lawyers complain that the disciplinary procedure of the manufacturer is "based on an anonymous letter that does not ensure the reliability of the informant and that does not even mention Bertrand Rochette."

Accused of having opened an account in Switzerland

The executive in question, who maintains his innocence, had written to the director of executive management and senior officers of the Board a letter of two pages including Le Figaro has obtained a copy. Bertrand wrote Rochette being summoned by Patrick Pelata, CEO of Renault, Monday, Jan. 3, for a meeting on "management of the architecture of new vehicles.""So I was very surprised when Mr. Pelata me immediately announced that misconduct had been alleged (..) and that the company had evidence that I was involved in a case industrial espionage related to the electric vehicle with the key money and foreign powers. "

After being escorted from his home by Mark T., a former member of the Police Department for the Protection of the group, Rochette Bertrand says he was "accused of having opened an account in Switzerland on which corporation shall have been made in consideration confidential information that I trasmises to third. Marc T. reportedly said "they had evidence of what he said." "All this is strictly impossible, I suggested to Mr. T. to go to Switzerland to check up on conditions under which this alleged account was opened. "

Remembering be gone the next day early in the afternoon on the TGV to Geneva with Marc T. and one of his colleagues, Bertrand Rochette ensures arriving too late to see this bank account which he repeats all ignore. "It was decided to spend the evening and night in Geneva. Mr. T. we suggested a drink and dinner together, "says Bertrand Rochette. The next morning at breakfast, it was agreed that Messrs. T. and G. pass me up at my room in 10 hours. It was only 11:30 that these gentlemen have "reappeared" and informed me that the visit to the bank, which I still do not know the name, was canceled and we returned to Paris on the orders of Renault .. " This trip would have made abortion "qu'accuenter the nightmare" of the framework in question.

As part of his "dismissal for gross misconduct," Bertrand Rochette was served Friday the obligation to surrender on the field its "laptop, badge, car, mobile phone, credit card, and all business records (he) might have kept. "

ALSO READ:

"Renault: preliminary investigation entrusted to the cons-espionage