Daily International Headlines

The meeting begins on a positive note on Friday, the Paris Bourse. At the opening, the CAC 40 climbed 0.46% to 3845.99 points. Investors follow the general optimism of their Asian counterparts. For the final session of the week, they have opted for green, morale boosted by the announcements by Chinese Prime Minister Wen Jiabao. This provides 8% growth in China in 2010 and confirms that the measures of government support to the economy. There is also a possible easing of monetary policy in Japan.

Yesterday, markets were not welcome U.S. statistics which indicated a relapse of the promises of home sales in January. But unemployment figures better than expected (the number of newly unemployed fell during the week ended February 27, with the deposit of 469,000 new claims for benefits) were eventually lighten the mood.Wall Street had also increased its earnings from these ads, pushing the French investors to reconsider their position.

This Friday, the Paris Bourse waiting 12 hours to figure orders from companies in Germany for the month of January. Then the United States will be published by the Department of Labor, the highly anticipated monthly report on employment in February. After Market (in 21 hours), the U.S. figures reveal consumer credit.

Areva and Veolia in the spotlight

Veolia Environnement (-0.10% to 24.98 euros) said before market in 2009 have recorded a turnover of 34.55 billion euros, down 3.4% on year, down slightly higher than expected (-2%).Net profit after minority interests amounted to 584.1 million euros, which therefore shows an increase of 44% over one year and beyond expectations (35%).

Areva issued after market close Thursday, a 2009 operating profit up 20% to 501 million euros. The turnover showed an increase of 6.4%, to 14 billion euros and net income group share for 552 million euros (-6.3%). The group has mainly confirmed its profit goals for 2012. In addition, the Department of Energy reported that U.S. demand for Areva to obtain two billion dollars of guarantees on credit advanced. The title climbed 1.32% to 350 euros.

NicOx announced Thursday a net loss of 60.4 million euros in 2009, cons -73.9 million euros in 2008. Revenues NicOx stands at 1.1 million euros at December 31, 2009 against 3.4 million million a year ago.The Exchange welcomes the news: the title won 4.05% to 6.016 euros.

The rest of the news companies, excluding results announcements

Side of EADS (+1.44% at 15.87 euros), Madrid has proposed the transfer of filled related to the A400M UK to Spain if London does not take 100% sharing additional costs of military transport aircraft, according to sources familiar with the matter.

The banking sector is also under surveillance. The bankers were again summoned to the Elysee Palace on Friday for a working meeting with Nicolas Sarkozy on the theme of financing for SMEs and SOHO. The reaction of BNP Paribas (0.69%), Credit Agricole (+0.84%) and Societe Generale (0.79%) is expected.

Casino (+0.10% at 60.49 euros) should start in May its pods, modeled on that of Nespresso.In France, the market for coffee pods is estimated at 1 billion euros, half for Nespresso.

Natixis (0.71% 3.68%) is under the radar of the AMF. A book published Thursday reveals that the former officers have disclosed false information to markets, in October 2008.

The British bride is more beautiful. British Airways, which should finalize during 2010 his marriage with Iberia, said Friday it had halved its operating loss in the third quarter.

"We still expect to lose money records this year," warned Willie Walsh, its director general. Due to a disastrous start to the year, the company has doubled its losses in the first nine months of its fiscal year. But saving measures taken upon entry into the crisis begins to pay. They have reduced operating costs by 10.5%.

To achieve this, the company has taken most of its competitors' revenues low costs. Starting with one of the keys to their model: a homogeneous fleet of aircraft, which reduces maintenance costs.On its base from London Gatwick, British Airways is gradually increased to a single type of aircraft (Boeing 777) for its long-haul flights and two models (Airbus A 320 and A 319) for its medium-haul flights.

All departments of the company have also made efforts. British Airways has cut staffing in its ground staff. A voluntary separation scheme and the non-renewal of retirements have to spend the staff of the London Heathrow Airport from 7 000 to 6 000 employees.

The operation of the hub has been completely redesigned. The development of online registration and training for staff to become versatile allowed both increase productivity and improve the punctuality of aircraft easy payday loans .

Last summer, finally, employees of support functions had to take leave without pay."Everyone had made efforts, but the sailors, summarizes a part of British Airways. We decided to make some changes so authoritarian. "

"Ability to react quickly"

Since the fall, steps have been taken to reduce the rest stops and to enhance the productivity of crews. The rest in Los Angeles after a flight from London for example is increased from two to one night.

A voluntary retirement plan was established to 1 000 cabin crew. 3 000 sailors have agreed to move to part time. This change has saved the equivalent of 700 employees at the company. British Airways has also offered its pilots a pay cut 6 to 7% against shares. This will allow the company to achieve 300 million pounds of savings this year."These reforms demonstrate our ability to react quickly, welcomes a part of the company. Our competitors have thought that we overreact. "

These drastic measures have however led social movements. The crew of the company and to vote February 22 on organizing a strike to oppose these measures, calling the union Unite.

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"2009 has been loaded, 2010 will be equally dense" warned Friday Nicolas Sarkozy during the presentation of his wishes to the social partners. After congratulating unions and employer representatives for their "spirit of responsibility in the crisis, the head of state has listed the main projects of 2010 on social issues.

Unemployment in particular, "will be at the heart of our action in 2010," he announced, as well as the management of addiction, "fifth social risk. The job priority for the coming year, so even if the head of state welcomed the positive results already achieved in this area. "Unemployment, with the exception of Germany, grew everywhere more than France.I do not satisfy, but if it was the opposite, which would be responsible? I have an idea … "

"The major problem of our social protection

As previously announced, 2010 will also be an opportunity to address pension reform. "It's been 50 years that we gain a quarter of life expectancy per year. This progress requires us to make decisions, "he said. Moreover, "the French are not mistaken, three quarters are concerned about their retirement. In this area, the head of state warned it will take account of the arduous work. "It's a defect French confusing equality and uniformity," he explained, suggesting that retirement may not be recognized for all the same.

The Head of State had previously commended the social partners for their spirit of responsibility during the crisis.A speech already supported by Francois Fillon during his vows to the press, and a way to encourage social partners to continue this work in 2010 for the implementation of further reforms, and in particular, thorny pension . "I do not believe in our social history, we've already had a social dialogue as dense," he noted as well. "Rather than fan the flames, everyone had to heart to find solutions to the ills that affected the French," thereby achieving "a form of maturity of our democracy." "Our duty is to tell us" he meant well.

AOL announced the color in late November. On 6 900 employees, 2 500 people were invited to take voluntary departure, otherwise there would be layoffs. Having only received 1 100 applications for voluntary departure, the Internet group has begun to deploy, yesterday, a comprehensive plan layoffs. In France, management presented a plan to close the staff representatives. One hundred employees are concerned. Germany is also poised to close shop. The AOL offices in Sweden and Spain will close early. The first redundancies notified on Monday, will take effect on Wednesday. AOL, which has left the fold of Time Warner in early December, having provisioned for 200 million dollars in charges.

After a 2008 black, stock markets around the world experienced in 2009 a substantial rebound in the light of an economy still recovering. In Europe, the Dax in Frankfurt rose 23% to 5957.43 points December 31, while the FTSE in London was granted 22.07%, to end the year at 5412.88 points. The squares of Brussels (+ 31%) and Madrid (+ 30%) did even better, while the Swiss market shows an increase of 18.27% and the Milan Stock Exchange rose from 13.28%.

A second half of 2010 uncertain

In Asia, equity indices recorded spectacular gains. Shanghai has taken over 80% in one year, and Hong Kong has offered an increase of 52%.Even in Japan, where the structural problems persist, the Nikkei index Featured jumped 19.04% in 2009, to reach 10,546.44 points at the end of the year.

Across the Atlantic, the Dow Jones rose over the year to 18.82% and the Nasdaq composite jumped 43.89%.

According to the main house management, year 2010 should be characterized by a sustained increase in equity markets in developed countries during the first half of the year. The interest rates of central banks and European American should not be raised before next fall or later, consider including Axa IM, Pictet and Aurel BCG.

Then, visibility fading. The recovery plans, adding to public debt, will sooner or later disappear, and allow growth to take charge alone.

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The National Association of food industries (Ania) decided this morning after three hours of heated debate, leaving the MEDEF, it was learned from corroborating sources.

After your secret ballot procedure rarrissime the board took this decision by 18 votes against 12. The Ania MEDEF considers that it "pays" too little regard to the amount of annual dues (over 600,000 euros).

Yet no decision to join another employer organization has been taken. The departure of a large federation, which had supported Laurence Parisot when she presented herself at the head of MEDEF, is a blow to the boss of bosses.

The owner of Ania, Jean-René Buisson, will hold a press briefing at 15 am explaining the decision of its directors.

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"The food industry is considering leaving the MEDEF

While the inaugural flight of military transport aircraft A400M has just taken place, the boss of aerospace group reported ambitious goals, with the hope of doubling turnover in ten years alone. "We want to double the turnover of 43 billion currently to approximately 80 billion by 2020," says Louis and Welsh, president of the European group EADS, in an interview published Monday by the German newspaper WirtschaftsWoche.

Additions to the services area

Such growth can not be fully carried out internally and should pass through acquisitions, particularly in the services sector. "I see, for example, a potential for services generate 20 to 25% of turnover. Today we're at a little over ten per cent. There are services such as maintenance, training and repair.We want to add new services, "said Louis Welsh.

EADS CEO also said that no decision has yet been arrested for his participation in the tender for the renewal of the American fleet of refueling aircraft, which represents a potential market of 50 billion dollars. "We never said we should abandon the game, only that we had concerns about the current process of bidding," says he.

Northrop Grumman's partner, EADS, announced last week that he would not participate in the tender launched by the Pentagon, believing that the requirements of the contract favored Boeing in the current state of things.

EADS shares gained 1.5% to 12.55 euros on the Paris Bourse at about 11:00.

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After a year in 2009 under the sign of restraint on wages, what does the year 2010? "The care and attention are always placed in businesses," said Fanny Potier-Koninckx, principal at Towers Perrin and responsible investigation "Outlook 2010 in terms of pay, which is published today.

This is Bertrand Delanoë, Mayor of Paris, which has reignited the debate. In a letter to Eric Woerth November 17, he "drew attention" of the budget minister on charges that the state charges the communities for the collection of local taxes and he wants to be "put an end to a situation unsound. "

To understand what it is exactly, we must consider the complex relationships that are formed between the state and municipalities, counties and regions in the field of taxation. The tax, at Bercy, is responsible for the communities of calculation and collection of the housing tax, property tax and business tax (TP). In exchange, the state gets a share of local taxes paid by households and firms, namely 4.4% of the amount for "cost of assessment and recovery.Moreover, the State takes a second "commission", set at 3.6% local tax (excluding tax housing the primary residence). These "adjustment costs and non-values". By what justification does it? By the fact that when a taxpayer pays a tax less burdensome than the regular rate because, for example, its low-income (and therefore entitled to relief), the State compensates for this shortfall to municipalities, counties or regions. Overall, with these two committees, 5 billion leave the funds in the state and communities and beyond. In a region like the Côtes-d'Armor, costs were 12.24 million in 2008 out of local taxes of 169 million, a levy of 7.2%.

Inextricable relationship

In Paris, the bill reached 185 million in 2008 and 215 in 2009, a levy of 6.4%.And most importantly, after its mayor, "the total amount collected from taxpayers Parisian clearly exceeds the costs actually incurred by the State for these operations." Bertrand Delanoë supports its contention on the last annual report of the Court of Auditors, which denounces billing on the first commission. At 4.4%, the costs of assessment and recovery are very remote from the actual costs of administration for the State, the Court amounts to 1.75% on property taxes. In 2006, an audit report of modernization precisely estimated these costs at 1.9% for property taxes to 3.86% for the housing tax and 0.9% for TP. "The State communities overcharged 1.3 billion euros a year," says rebels on the Assembly of departments of France (ADF).

Nevertheless, the Court of Auditors in its report explains that the Second Committee, on the rebates … is it under-billed.At Bercy, it says the same thing and adds that overall, the balance is negative: "The state pays 16 billion of relief to communities and supports 2 billion cost management. But it only pulls 5 billion of total costs. "

On the community side, this argument makes leap. "The government will decide on tax concessions. It is normal that the state compensates us! "Storm-t-on to the Association of Mayors of France (AMF).

Reforming the business tax may resolve this dispute. To compensate for the loss of revenue, local governments should recover 2.1 billion cost of assessment and recovery. The cursor could even climb to the Senate. Finally, the only gain nothing will … taxpayers.

"Sarkozy denounces the" fiscal insanity "in regions

In the lounge Actionaria, individual shareholders are smiling again. This Friday, November 20, the jostling in the aisles of the exhibition of the Exchange is open until tomorrow evening. The event, held at the Palais des Congres de Paris, Porte Maillot, meets all the financial players: listed companies, banks, brokers, financial media and individual investors.

The companies explain their latest results and present their strategy. On this occasion, small shareholders can meet with leaders of companies. Thierry Le Henaff, CEO of Arkema, goes every year on the show: "This is a very privileged that we can dialogue with our shareholders, and raise their expectations," says he.

Banks, home management and Internet brokers have their products and services.Some offer free training to enable individuals to master the new financial tools (eg CFD) and to discover new markets (such as Forex, the foreign exchange market), with the opportunities and risks of their own.

Individual shareholders Actionaria come to find explanations for technical information on a specific company or even counseling. The appointment creates the most opportunity to take the pulse of the market. "Among the questions we are asked most often, there are particular questions about the soundness of banks, and the prospects of the market," explains Benjamin Villegas, broker trading room at IG Markets in London. Regarding prospects for the CAC 40, the expectations are shared: