Sundial of world news

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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British phlegm is not what it was. Exasperated by American diplomats who refuse to pay the London congestion charge ", the congestion charge in place since 2005 to move or to park in the capital, the conservative mayor of London, Boris Johnson, has decided to directly attack the President Barack Obama.

Taking advantage of his official visit this week in Britain, he decided – not happy with him claiming some 8.7 million euros in arrears – all cars of the procession would pay tax like everyone else. Starting with the Cadillac of Chief of the U.S. state, nicknamed "the Beast" by the Secret Service because of his size and armor that are, according to experts, a real tank on wheels.Transport for London, the agency responsible for managing the toll, which depends on the mayor, is trying to calculate the bill at the rate of 11.50 euros per day per vehicle.

The Pope, himself, had nothing to pay in September 2010 but says Boris Johnson in the Evening Standard, the roads were closed to other traffic, while this time, they were not . And beware of other heads of state who want to go to London! All diplomatic missions should in fact the tune of 59 million.

What partly explain the irritation of the elect, who has seen the end of March a half-million English between Westminster and Hyde Park to protest against cuts in the government.

Friday on its website, the group Indochina stated in a brief statement: "Despite our numerous reminders, the Eating the Heart did not seem to want to accept the gift of our copyright / composer of the title 3rd Sex present in the album In the Eye of the Enfoirés. The latest installment of the troupe takes effect in two songs of the group, I asked the moon and 3rd Sex.

Nicola Dominique (ex Indochina) and Nicola Sirkis (singer / songwriter current group), assigns the third title Sex, logically had hoped that the revenue generated by exploitation of their titles are completely transferred to Eating the Heart.

Despite several phone calls and e-mails from the group and their label Sony, Eating the Heart never responded to this proposal.The two artists have decided to donate their full entitlements Secours Populaire.

"We find it curious"

The group is now wondering why Restless seem unwilling to accept their donation. "We find it curious. I hope that authors and composers of other songs sung by Enfoirés so do we and pour their rights, "says Nicola Sirkis at Figaro.fr.

The state since their inception Enfoirés donate all the money collected by record sales.But it should be noted that revenues are generated by distributing these songs on television or radio, and SACEM and SDRM, organizations distributions of copyright and reproduction of records, revertants also rights to authors and composers in the number of discs produced.

In the case of Indochina and Enfoirés SACEM will therefore have to distinguish the rights generated by the third song recorded by Gender and Indochina Enfoirés his version of how to distribute income.

Indochina will soon publish on its website the notarial deed certifying the repayment of these rights.EMI Publising, the publisher of the title did not always about him appeared.

Warned not to tracks for recording and 3rd-Sex

We are not asking the moon, the single from last album Enfoirés resumed I asked the moon in Indochina, is a song written by Michael Furnon group Mickey 3D, edited by Louise Attack Editions. Indochina therefore does not receive any rights to this title which, according to our calculations, could generate nearly 250,000 euros of copyright in the version Enfoirés.

Michael Nicola Sirkis Furnon warned of the psychosocial adjustment of this song for the Enfoires. However, no request was made to the group to obtain the right to record the third sex, which are compulsory.

"The third version of Sex by Enfoirés (3, 45 min.)

The Paris Bourse playing yoyo Monday. Already upset Friday by the earthquake and tsunami that hit on Japan, the Cac 40 fell back. After changing course several times in the morning, he sold 0.72% mid-term to 3900.59 points.

In London, the FTSE-100 5839.11 0.02% gleans points. The concern, however, is more vivid when the ignition Dax loose 0.56% to 6842.66 points.

Operators are reluctant while alarming news from Japan are linked. The Government refers to as a loss that would have a "considerable" on the national economy, adding that huge funds needed to finance the reconstruction of the areas tested.

Serious malfunctions at nuclear power plants in the region ravaged quicken concerns about the consequences of this disaster on all Japanese companies and the entire region.The Bank of Japan (BoJ) tries to calm markets by injecting funds into the financial system records. At midday on Monday, already 15,000 billion yen (131.6 billion euros) have been released. But this news has not been enough to reassure the markets of the region, primarily the Tokyo Stock Exchange, which has unscrewed from 6.18% at closing for its first full day of trading since the disaster.

Concerns from Asia should also largely occupy the mind for that day. Indeed, no major indicator except industrial production in the euro area in January, is expected Monday.It will wait until Tuesday for a news might make a difference in publishing in the U.S. index of house prices and the Fed decision on rates.

Oil and euro down

In this tense environment, oil appears down in electronic trading in Asia, the market worried about a drop in demand in the short term hit in Japan. Around 11:00, Brent North Sea crude for April delivery traded at 111.82 dollars and New York, a barrel of light sweet crude (WTI) let go two dollars to 99.16 dollars.

On the currency markets, the yen Monday morning in front flexes in other currencies. The intervention of the BoJ has helped slow the sharp rise of the yen against the dollar. Around 10:30 am Monday in Tokyo, the dollar went back to 82.20 yen after falling to 80.60 yen on Sunday, its lowest level in four months.For its part, the euro fell to 112.47 yen. Against the dollar, the European currency gained some ground. Around 11:45 am, the euro bought 1.3971 dollars against 1.3901 on Friday.

Renault, EDF and LVMH affected by the disaster

Renault: -3.15% to 39.47 euros, the biggest drop CAC 40

Nissan, Renault's Japanese partner in the Renault-Nissan, has closed four assembly plants in Japan and no site would reopen Monday. Nissan, the second Japanese manufacturer, manufactures 22% of its vehicles in the archipelago. Furthermore, the manufacturer faces a new twist in the case of alleged espionage. Dominique Gevrey, one of three security officials of the group, was remanded in custody to view this weekend.He is indicted for "organized fraud" and jailed in January following the dismissal last three frames of the group.

LVMH: -3.50% to 106.15 euros, PPR: -1.61% to 106.75 euros Hermes: -2.16% to 149.75 euros, L'Oreal: -0.70% at 81 , 07 euros

The luxury sector is likely to suffer the effects of the earthquake and tsunami that devastated the north-eastern Japan. The archipelago is the second largest global luxury goods market after the United States and elbow to elbow with China. For Hermes is the first market (17% of sales) while for LVMH, representing 9% of sales. The luxury division of PPR meanwhile 16% of its turnover in Japan. L'Oreal, for its part carries about 2.5% of its turnover in the country.

Areva (-8.91% to 31.75 euros) shows the largest decrease in the CAC 40 also affected by the nuclear risks in Japan.EDF (-4.51% to 29.20 euros) is also in trouble as Scor (-2.29% to 18.82 euros).

Bolloré put on Guinea

France Telecom: -0.61% to 15.38 euros

Orange and the Kuwaiti Agility will acquire a 44% stake in mobile operator Korek Telecom Iraq, announced Monday morning the French incumbent in a statement.

Bolloré: + 0.29% to 158.95 euros

The group on Friday signed a contract worth 500 million euros with Guinea for management of container port of Conakry, the capital of the West African country, state television reported.

Sopra Group: -0.63% to 71.05 euros

The group announced its intention to hire 2,500 people in 2011 in Europe, 1600 in IDUs in France in the consulting, systems integration and software development.

Altran: + 1.22% to 4.30 euros

The French group technology consulting has reported a net income Group share loss of 26 million.The group said to be in talks to divest all of its activities in Brazil. He anticipates continued growth at a high level in France in 2011 and continued improvement of its operating margin in 2011.

Vivendi: -0.10% to 19.73 euros

The group does not invest more than 6 billion pounds (6.9 billion euros) for the redemption of the capital of SFR held by the British telephone operator Vodafone, according to the Financial Times.

Note that the bank is well oriented: Credit Agricole (3.99% to 12.13 euros) is the largest increase at Societe Generale (3.34% to 48.31 euros), followed by Natixis (+2 , 74% to 4.21 euros) and BNP Paribas (2.39% to 54.41 euros).

Iliad exceeds all market expectations. The provider of Internet access reported on Wednesday a turnover of 313.1 million euros in 2010, up 78% and well above the 288 million consensus estimate of analysts. The EBITDA jumped 20.7% to 798.1 million euros (above the expected 773 million) while sales gained 4.3% to 2.038 billion euros. Free cash flow for the ADSL business has emerged up 33% in 2010 to 435.5 million euros.

The most notable of the past year is the rapid recovery of Alice in restructuring since its acquisition in August 2008 to Telecom Italia.The subsidiary has seen a further erosion of its subscriber base in 2010 (565.000 in 2010 against 678,000 in 2009) and a decrease in sales (-16.7%) but its profitability has improved throughout the exercise in favor of a policy of cost reductions initiated last two years. Alice has contributed positively to EBITDA of up to 83 million euros.

The group will propose a dividend of 0.40 euro per share for 2010, against 0.37 euros for 2009.

Outlook confirmed

Based on these results, Iliad confirmed its objectives for short and medium term. The group, owner of Free, has a cumulative free cash flow of over 1.1 billion euros between 2010 and 2012, including Alice. Turnover is also expected to double by 2015.

Side operational objectives, Iliad expects a coverage of 4 million households in the fiber optic end of 2012 and 100,000 subscribers to fiber optics by the end of the year. The timing of the launch of the mobile offering is also confirmed for next year. The ISP, which just signed a partnership with Orange, plans to cover 27% of the French population with its own network by January 2012.

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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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It's confirmed. The Figarol'avait as revealed on February 22, gas prices in France will increase by 5% from 1 April. Eric Besson, Minister of Industry and Energy has announced at a press conference on the installation of the National Observatory of fuel poverty that GDF Suez was preparing "to submit to the CRE (Commission for Energy Regulation, Ed) a request to increase gas prices in effect from April 1, "5%" in principle ", he said.

In January, gas prices had been frozen by government decision. These are only three months after the invoice will begin to swell. 10.8 million households connected to natural gas are affected by the bad news. The increase of about 5% represents a premium of around 45 euros for their heating bills. Especially after this increase, the price of gas has taken nearly 20% in one year.On 1 April 2010, he had jumped by 9.7%. Last July, he was again appreciated by 4.7%. This winter, the government had decreed a break.

Rising oil prices reflected

GDF Suez was announced last August the establishment of a new method of calculating gas rates in France, intended to better reflect market prices and had to be applied from 1 January 2011. If the old method of calculation had been used, the increase was 1.7 points higher.

So now, rising oil prices is it better taken into account.Yet in recent weeks, the barrel is trading above 100 dollars and even exceeds $ 110 for several days, as tensions in Libya does not fade and that the risks of contagion Arab revolutions always worried.

Besides gas prices, two other major elements involved in the fixing of prices: the cost of transportation and distribution, on the one hand, and marketing costs (contract management and billing), on the other.In the case of transportation, this element is reviewed annually on 1 April precisely.

These days, the National Housing Federation (NLC), the main tenants' organization, called the return "to a utility power with a state guarantee of rate stability."

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A real setback. Household consumption of manufactured goods fell 0.5% in January, according to figures released Friday by the INSEE. Other bad news, the jump in spending by French observed in December was revised down from 0.6% to 0.4%. The decline in January mainly due to the drop in auto purchases by 6.3% in January. In addition, purchases of textiles and leather fell 1.8% despite sales.

Cushioning the fall, spending on household equipment held up well, up 2.4% on the month "because of the dynamism of furniture purchases," said INSEE. "Other manufactured products", such as watches and jewelry, DIY and hardware rose 1.1% in January. These figures are "clearly encouraging", says Dominique Barbet, an economist at BNP Paribas."They are more in line with the strong confidence of business leaders found earlier this year with the declining morale of households freecreditscore."

Households increasingly fear a return of inflation, Insee said in the release of the index of consumer sentiment on Thursday. Involved, soaring oil prices which "the psychological impact is very important," as emphasized Alexander Law, chief economist at Xerfi. Particularly because it is a recurring purchase for households. "This climate of suspicion certainly attend a further drop in consumption over the coming weeks," said Alexander Law, chief economist at Xerfi."Without alternative sources of growth, French economic growth will suffer inevitably."

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Click on the thumbnail to enlarge the graphic.

Europe stands on Wednesday a review of measures taken in December 2008 in favor of the 23 million SMEs which employ over 90 million people and represent over 67% of private sector jobs in the European Union. This initiative called Small Business Act aims to promote the access of firms employing fewer than 250 employees in finance, public procurement, to accelerate their implementation internationally, to simplify the relations with the administrations and encourage the 'entrepreneurship.

But it is more about principles of binding provisions such as those established by the Americans since 1953.Despite the absence of a genuine European Action Plan, progress has been made for two years because the crisis has encouraged governments to help small businesses hit hard by the economic and financial difficulties. They have lost nearly 3,250,000 jobs.

France has, for example, reduces payment times, eliminated the business tax – two decisions that apply to all businesses – and established the regime autoentreprenor since 1 January 2009. A move welcomed by Brussels. France, like Poland, Ireland and Iceland have established programs to encourage women to become entrepreneurs. These actions allow us to be in the European average and to beat Germany in the field of entrepreneurship.

Countries to reduce administrative procedures.France will hold in a few weeks the foundation for simplification to facilitate relations between the state and the bosses. Germany has made significant progress in betting on the Internet. But it remains in the EU average with a period of 18 days to start a business in seven days against 13 days in France and Britain. Italy has made significant efforts cons in this area by focusing on IT. Just one day to the Italians to create their company since April 2010. Spain has reduced both the time to start a company (17.5 days against 29 days previously) and registration costs (115 euros against 617 euros). Result, the average time in Europe to develop his company is more than 7 days against 12 days in 2007.The costs of this approach has fallen into the same time to 399 euros against 485 euros.

Progress

Several measures have been taken both in the funding of internationalization. Austria launched in 2008 a grant from the transmission business. The Czech Republic, Denmark, Estonia, Portugal and other countries including France encourage the internationalization of SMEs.

Despite progress, Brussels has decided to continue to steam. "SMEs are the engine of the European economy. They must be strong, competitive and innovative. States must act quickly so that the Small Business Act to be translated into facts, "said Antonio Tajani, Vice-President of the European Commission and Commissioner for Industry and Entrepreneurship.He hoped that SMEs remain a priority for Europe in the coming years because they are the ones who create jobs.

If, on the political front, he has decided to maintain the suspense, the director general of the International Monetary Fund (IMF), Dominique Strauss-Kahn did not go around the bush to discuss the global economic crisis. "Considerable progress is being made, [...], but they are much too slow, we are far from", says in an interview face to readers of Le Parisien, Aujourd'hui en France published Monday.

The crisis in Europe

As the world tries to get out somehow this economic and financial crisis, Dominique Strauss-Kahn warned, using its ambiguous wording. "You mouth holes but others are created. The act of drawing lessons does not guarantee that we will prevent all future crises. This is what is most worrisome, "he warns.

This does not preclude the IMF Managing Director to distribute good points."All of Asia is distributed, also Latin America, with the same risk of overheating," he says. Even Africa is complimented: "Africa is rather better," says DSK. However, if "Europe has avoided the catastrophe," it off again more slowly and it may last. Missing from the euro zone it has not since the beginning: more coordinated economic policies, "he says. And for that, he insists that "the States to waive part of their sovereignty. However, fashion is not so much to have more Europe today …».

"The euro

"There has not really had a crisis of the euro as its currency." Unsurprisingly, the IMF Managing Director supports the European currency, while some are calling for the abandonment of the euro. "A vast deception," he says.The countries that come out of the euro area would lose much of the confidence necessary for a good economic situation. "

For DSK, banks are as responsible as those who were to supervise "and did not the police." Thus, in regulating the banking sector, he lamented that the good will of the states have not been implemented. "What I find shocking is that banks today have returned to practice before the current crisis, including pay and bonus, he offended. Me, I heard some politicians say "never again". Result: The bonus came back as before. "Bad points for France or the United States, which claimed the control of a bonus in banks of their warhorses.

"The 35 hours

On social issues such as 35 hours, retirement or tax on capital, Dominique Strauss Kahn was less talkative.

About 35 hours, he recalls that "it is a historical process that is due to improvements in productivity and should be considered at the scale of life." He added: "Overall, the long-term time employment is still a downward trend in all developed countries," he says.

"Retirement

Regarding retirement, he confirms what he said on France 2 last May ("Retirement at age 60 is not a dogma")."If life continues to grow, we can not hold with fewer people working to pay the pensions of more and more people," he replies to other members of his party, the Party Socialists, with whom he disagrees on this issue. Without taking a position on the reform undertaken by the government, it simply states that "the purpose of a pension system is that it be fair to those who worked longer or shorter time, under conditions more or less difficult and just vis-à-vis assets.

"The tax on capital

Finally, while asserting that "the IMF has no vision on the TFR French," he recalls "the need for taxes on income, consumption and wealth. The more we diversify the sources of direct contributions, the more likely it is to be fair. "