4 Feb
SNPL pilots and key union hostess and stewards have launched a strike notice for four days starting Monday. They oppose a bill to impose a minimum service in the air during a strike. Of passengers at the information board on flights at Charles de Gaulle
French unions aviation, including pilots of SNPL and the main organizations of hostesses and stewards, confirmed Friday their strike call from 6 to 9 February to oppose a bill regulating the right to strike in this sector.
In addition to the pilots and flight attendants, federations FO, CFDT, UNSA and CGT have the air, after an inter-union, called the staff of companies and their service providers to mobilize. The bill "has been hardened to the Assembly and the government does not want to negotiate, the National Council of SNPL therefore confirmed the strike on Friday from 6 to 9 and decided it would be renewable, either directly after 9, or at another time, "he told AFP Yves Deshayes, national president of the SNPL, the main pilots' union, super-majority at Air France.
"At the Inter, after our board meeting, it's the same with a strike from 6 to 9, and a few different versions according to the unions," said Yves Deshayes. "The three main trade unions of PNC (flight attendants), the SNPNC, the Unac and UNSA also call from 6 to 9, "said the driver. "The strike is held from 6 to 9," also said Franck Mikula, president of the Unac (CFE-CGC) at the conclusion of the Inter.
The SNPL said that among the ground staff would go on strike and some others would be "in action via other means." "We call for the strike in all French airlines, in metropolitan and overseas territories" , said Yves Deshayes.
You never know when an unexpected financial emergency may hit, leaving you short on cash and unable to make ends meet for the month. At times like these, payday loan lenders can give you the lift you need to make it through.MEPs decided that the adjustment of family benefits would take place on April 1 instead of January 1.
MEPs decided on Friday at the meeting, that the adjustment of family benefits, traditionally made on 1 January, 1 April intervene now, as is already the case for pensions. This deferral to April 1, said Minister of Solidarity Roselyne Bachelot, will compensate for the finances of the state, "not liable to the CSG the additional choice of activity (CLCA)" (parental leave ).
MEPs have adopted Wednesday by night session, an amendment removing the liability to CSG parental leave that the government wanted to impose.The UMP's budget reporter Social Security Yves Bur had proposed to postpone the revaluation of family benefits from 1 April to financially compensate the removal of government action. The budget minister Valérie Pécresse, while present, had "taken note of this commitment."
Friday morning, the members themselves have officially recorded this decision by adopting an amendment to the government that sets 1 April each year the revaluation of family benefits. All family benefits will be affected by this provision: family allowances, housing allowances, allowances back to school, receiving benefits early childhood, parental leave, etc.. The three-month postponement of revaluation has sparked protests in the ranks of the opposition.
17 Oct
More than one million low-income households eligible for social tariffs of electricity and gas do not qualify now, because of the complexity of the award procedure. EDF and GDF will cross their files with those of beneficiaries of supplementary CMU.
Social tariffs for electricity and gas, more than one million beneficiaries do not receive very modest at present, will be automated from 1 January 2012, announced Monday in a statement the Minister of Energy, Eric Besson. The minister seized Monday the Supreme Council of the energy of a draft decree automating their allocation to households with incomes below the ceiling of the supplementary CMU, or 7,771 euros per year for a single person or 11,657 euros for a couple .
Only 600,000 households currently receive social tariffs for electricity or gas, so that 1.5 to 2 million households are eligible, according to the government, a situation that was "not acceptable" according to M . Besson. This phenomenon was explained by both the complexity of the award procedure and the modesty of copyright holders who waived the claim.
Reduction of 88 euros for electricity and 142 euros for gas
According to EDF, the average reduction of invoice driven by the social tariff of electricity (created in 2000 and established in 2005) is 88 euros per year. Reducing Gas (adopted in 2006 and implemented in 2008) it amounts to 142 euros per year.Eligible households will benefit rates "without having to step in" with the file of recipients of supplementary CMU, under control of the National Commission on Informatics and Liberties (CNIL), the ministry said in a statement.
To avoid excluding people who forgot to extend their rights to CMU, the rights to social tariffs will run six months longer than the CMU, according to the draft decree. The decree, the government had promised, following the adoption last year of law Nome (New Market Organisation of Electricity), which already provided for automation rates for households with the lowest incomes.
5 Oct
The private sector created 91,000 U.S. jobs in September, exceeding analysts' expectations, soothing some concerns about a rapid deterioration of the labor market.
Economists polled by Reuters predicted that the monthly ADP, released Wednesday, would state that 75,000 jobs created.
Figure of the month of August, however, was revised down slightly to 89,000, against 91,000 in the first estimate.
The publication of these figures has raised the index contracts before the opening of U.S. markets, but Wall Street was then opened in fall, investors remain uncertain economic prospects and projects of European leaders about banking.
ADP Employer Services survey, conducted in partnership with Macroeconomic Advisers LLC, is considered a leading indicator of monthly statistics on employment figures which are expected on Friday.
Economists polled by Reuters anticipate 60,000 new posts in the private and the public, but outside the agricultural sector, after zero in August.
"It seems that the private sector will continue to create jobs, which is consistent with the scenario of slow growth," said Gary Thayer, macroeconomic analyst at Wells Fargo in St. Louis.
"The problem is that the public sector is shedding jobs.So we should have a low figure, but slightly positive next month. "
Moreover, the number of planned job cuts in companies in the country jumped in September to a high of more than two years, another report showed on Tuesday.
Employers announced last month that 115,730 job cuts planned, against 51,114 in August, the report said the consulting firm Chalenger, Gray & Christmas.
This is the highest since April 2009.
The increase in sales in September was mainly due to two employers: Bank of America and the U.S. military, which together plan to reduce their workforce by 80,000 people.
27 Sep
European shares finished sharply Tuesday and recorded a third straight session of gains, supported, as before, with hopes of credible solutions to the crisis of sovereign debt in the eurozone.
The CAC 40 index closed up 5.74% to 3023.38 points, crossing the psychological barrier of 3,000 points and a small resistance around 3,014 points, the next resistance zone at around 3,089 points, according analysts graphics.
Professionals are questioning the strength of the rebound in stock market indexes and bank brunt of the fall of the market since late July and the main drivers of the rebound.
"For banks and insurance, as the indices, we can not yet say that we have stopped the downward momentum in place.But there are low points which should take several weeks, "said Jerome Vineria, market analyst at IG Markets.
For Valerie Gastaldy Cabinet Technical Analysis Day By Day, "the market may have been a low point, but there is no buy signal yet."
"Although the rebound is very large, has not yet confirmed the figure to return to Europe, but there is almost (…) what is interesting is that this is the first bounce that comes from the banks since the beginning of the fall (July ed), "she adds.
THE REBOUND not last NO SOLUTION TO THE CRISIS
In Paris, the bank has increased dramatically and signed the largest increases in the CAC 40: in order, Societe Generale (16.81%), BNP Paribas (14.15%) and Credit Agricole (13 , 1%), while the Stoxx European banks index was up 6.82%. The French and German banks have outperformed the others and are the only ones taking more than 10%.Deutsche Bank gained 12.62% and 12.59% Commerzbank.
The London Stock Exchange gained 4.02%, the Frankfurt 5.29% and 4.9% in Milan while the pan-European index STOXX 50 was awarded 5.31% and the Eurofirst 300 garnering 4 55%.
The volatility index of the Frankfurt Dax has dropped from 6.76% to 46.58.
"The 'rally' bear markets are the most violent," said Frederic Buzare, head of equity management at Dexia Asset Management, which warns that "the rebound will not last if investors do not get a clear action plan to resolution of the crisis "of the debt, he added.
"In this market-led policy, all about the risk premium. The valuation ratios are no longer relevant.We spend more time reading the statements of leaders (political) to study the balance sheets of companies, he says.
In addition to banking and insurance, the rebound has affected all sectors in Europe, particularly the construction (6.32%) and commodities (7.52%).
In the CAC 40, Alstom jumped more than 11%, Lafarge over 10% of Accor 9.37% 8.52% ArcelorMitttal, Michelin of 8.07%, 7.67% of Peugeot and Renault of 8.22%.
In this context of return to risky assets, return on German government bond (Bund) was extended to 10 years of one basis point to 1.96% while the euro going above $ 1.36 to exchange around 1.3610 against 1.3530 on Tuesday morning.
A barrel of U.S. light crude oil gained 3.64 dollars to 83.88 dollars and 2.64 dollars per barrel of Brent at 106.58 dollars.
26 Sep
The title UBS has lost 2.17% this morning at the opening after the resignation of Oswald Grübel Saturday. The former CEO left the bank following a fraud of $ 2.3 billion by a trader. The CEO of UBS Oswald Grübel could be landed in the management of the bank after losing $ 2 billion by a trader.
The action of the first Swiss bank UBS has opened lower Monday after the surprise resignation of CEO Oswald Saturday Grübel after the scandal caused by the massive fraud by a trader who cost the institution $ 2.3 billion . After falling 2.17% at the opening, title UBS limited its losses, down 0.40% to 10.08 Swiss francs in a market down by 0.35% at 7:13 GMT.Sergio Ermotti, responsible for the affairs of the bank in Europe, Asia and Africa and a former leader of the Italian bank Unicredit, will assume the position of interim CEO with immediate effect, UBS had said Saturday.
Gruebele Oswald resigned after the spectacular case of fraud which cost 2.3 billion dollars and another blow to the reputation of the first bank Helvetic. "The Board of Directors of UBS has accepted the decision of Oswald Grübel to withdraw from his duties" the bank said in a statement. Kaspar Villiger, President of UBS, said in the statement that "The Council regrets the decision of Oswald Grübel.The latter considers it his duty to take responsibility for the recent case involving unauthorized trading operations. "
"This decision reflects the strength of its principles and integrity," added the president of UBS, adding that "during his tenure, he managed to turn the company around and increased impressively in the UBS base ". M. Gruebele, 67, was taken from his retirement two years ago to address the UBS, after leading the rival bank Credit Suisse. Taking the head of UBS in the midst of the financial crisis during which the bank had lost billions of francs and posted record losses, Gruebele M. had returned to profit in 2010.
Oswald Grübel "retires from office after having helped UBS to become one of the best capitalized banks in the world" acknowledged Saturday the chairman of banking giant Helvetic.Kaspar Villiger said shortly after during a conference call that the board of directors of UBS did not want to see Oswald Grübel leave immediately and would have preferred to keep jusqu''à the shareholders' meeting in spring 2012. But Oswald Grübel, abandoning his position as Chairman of the Executive next year would not have constituted a strong enough signal, said Chairman of UBS from Singapore. UBS disclosed last week have suffered a loss of $ 2.3 billion (1.7 billion) after one of its traders had made "unauthorized trading".
A broker of 31 years, Kweku Adoboli on suspicion of fraudulent transactions, was charged and detained in London, as part of this young man will affaire.Le jailed at least until his next hearing on 20 October.The largest shareholder in UBS, the Singapore sovereign fund GIC, had reacted severely after the discovery of the fraud, calling the Swiss bank "to react firmly to restore confidence in the bank."
There are less than a week, however, Oswald Gruebele, had told the Swiss Sunday newspaper Sonntag, he did not feel guilty in the fraud case and had no intention of resigning. "I am responsible for what happens in the bank. But if you ask me whether I feel guilty when I say no", said the banker, Sergio P. Ermotti, responsible for the affairs of the bank in Europe, Asia and Africa, will assume the position of interim CEO with immediate effect, said UBS."The Board is deeply disappointed by the loss from unauthorized trading operations and will fully support the independent investigation," said UBS also in a statement.
Swiss bank UBS had started Wednesday in Singapore where one of its largest shareholders, a series of meetings of its Board of Directors, held in the utmost secrecy. Friday, Oswald Grübel, continued to assert that he had always trusted the board of the group, despite the fraud and rumors of his imminent departure, according to a Swiss newspaper. Réagisssant the shock wave caused by the announcement of fraud, UBS decided to suspend all advertising campaigns.
21 Sep
The Chief Inspectors of the European Union and the International Monetary Fund (IMF) will return to Athens in early next week to resume the inspection mission, said Tuesday the European Commission, confirming the words of the Greek Finance Minister Evangelos Venizelos.
International creditors of Greece will have to decide at the end of the mission of an agreement on the release of a new tranche of eight billion euros.
Evangelos Venizelos spoke of his austerity plan with the delegates of the European Union (EU) and the IMF during a conference call that ended Tuesday at 20:30 GMT."Good progress has been made" during the conference, stressed the Commission in a statement, adding that "the technical discussions will continue in Athens in the coming days."
"Discussions will continue this weekend in Washington," which will host the annual meeting of the IMF, it was also learned in a statement released by the Greek Minister of Finance, who will attend the meeting.
An official with the Greek Ministry of Finance has also expressed confidence that the next tranche of eight billion euros will go to Greece with its international creditors, he said on condition of anonymity after a teleconference Tuesday.
"We are close to agreement with the troika," he said.
Greece pledged Tuesday to further reduce the size of its public sector in order to convince its creditors to pay the new tranche of aid, without which, the Greek state could end up insolvent next month.
17 Sep
Strong differences of views on the management of the debt crisis have materialized Friday between Europeans and Americans.
At a crucial meeting of finance ministers of the euro area, which was exceptionally invited the Secretary of U.S. Treasury Timothy Geithner, Germany has refused to commit more public funds to support the euro area , as called for it.
In turn, Timothy Geithner has ruled out a tax on financial transactions, despite their wishes known by the heavyweights of the single currency area such as Germany and France.
The exchange was reported by some journalists to the Austrian Minister of Finance, Maria Fekter.
"He stressed that more funds were needed to prevent the system (financial) is in difficulties.(Wolfgang) Schäuble told him it was very unlikely to be possible to weigh the burden on taxpayers, especially if the burden is imposed on those countries AAA, "she said.
"In these countries, there is a desire to implement a tax on financial transactions (…) It (Geithner) was excluded," she said.
"I think especially that although Americans have basic worse than the euro area they tell us what to do and when we give them a suggestion, they immediately say no I (…) hoped that when they tell us how they see the world they listen to what we have to tell them, "she further said.
At the press conference following the meeting of the Eurogroup President Jean-Claude Juncker, also made a plea in to U.S. demands to curb austerity.
"We see in the euro area no flexibility that allows us to implement a new stimulus package," he said.
"Loose talk"
A debate is at work within the euro area and between Europeans and Americans on whether or not to put a brake on the policy of austerity, while the economic recovery is decelerating sharply.
According to several sources, the whirlwind tour of Europe by Timothy Geithner was to defend the principle of recovery and ensure that the euro area had the will and the tools to manage the crisis.
He called on governments and central banks to work together and avoid "loose talk" on the dismantling of the euro area.
According to several sources of high rank, he also pleaded Friday for the use of leverage to multiply the response capacity of the fund "euro area".
It is currently 440 billion euros but this sum could be too low when the new government fund to recapitalize banks and buy back sovereign debt will take effect this fall.
Jean-Claude Juncker has denied the existence of such a discussion between EU ministers and their U.S. counterpart.
"We do not discuss the increase in the size of EFSF with countries outside the euro area," he said.
A senior source said, however, that this possibility was discussed Friday afternoon.
Germany and other countries had so far rejected an outright increase in the size of the fund and the national parliaments have yet to ratify the new powers of EFSF decided at the EU summit on 21 July.
14 Sep
PSA Peugeot Citroen and General Electric announced Wednesday it had signed a business cooperation and technology in Europe around the electric vehicle.
The automaker and the U.S. giant has said in a statement that the agreement was not exclusive to work together including the deployment of a commercial offering combining the electric vehicle charging infrastructure.
New offerings destined for the corporate customers will also be developed.
General Electric is committed in this context to purchase up to 1,000 electric vehicles to PSA by the end of 2015.
PSA remember launched in late 2010 electric vehicle Citroën "C-ZERO" Peugeot and "ion".
12 Sep
Wall Street has ended up a very volatile day on Monday, a rally to have occurred at the very end of the session in the hope that Italy receive financial support from China.
Italy has asked China to perform major purchases of its sovereign debt, the Financial Times.
"This shows that the Chinese are not kidding when it comes to addressing the tensions of the market," said Robbert Van Batenburg (Louis Capital).
Before this news, which also had the effect of reducing the bond market, prices were well oriented in the red, affected again by fears about the crisis of sovereign debt in the euro area.
What should be added those of Moody's downgrade see French banks.
The fear of the debt crisis of the European impact on the U.S. banking system does not weigh less heavily on Wall Street for months. In addition, the ministerial summit of the G7 last weekend did not lead to new initiatives to boost growth.
"U.S. investors are faced with a barrage of bad news from European markets," commented Andrew Wilkinson, analyst at Interactive Brokers Group. However, he added, "after a weak start sensitive, investors seem a little less concerned."
The Dow Jones gained 68.99 points (0.63%) to 11,061.12. The Standard & Poor's is 8.04 points (0.7%) to 1162.27.The Nasdaq composite leading 27.10 points (1.1%) to 2495.09.
Agreement in the high tech sector was already allowed the Nasdaq to limit its losses during the session.
Areas that closely follow the business cycle have reacted differently to the late rebound for rating index of natural resources eventually even a loss of 0.77% but the energy was able to go back and shows a gain of 0.53%.
In high tech, NetLogic Microsystems jumped 50.8%, the specialist mobile chips that Broadcom agreed to buy back $ 3.7 billion.
Broadcom has yielded 1.14%.The semiconductor index has been 3.03%.
The merger "shows that many shares are undervalued, a historical perspective," says Joseph Cangemi, managing director of BNY ConvergEx Group.
In banking, Bank of America shows a gain of 1.0%. The bank announced Monday eliminate 30,000 jobs in the coming years in order to reduce its annual expenses of five billion dollars by 2014.
The financial index, which also visited the negative territory for most of the day, closing displays a gain of 1.22%.
Values always, McGraw-Hill Companies has gained nearly 4%, the publisher has announced plans to split into two companies, one international and one in education.