Posts Tagged ‘currency’

French produce, a theme that goes

February 2, 2012 - 9:35 pm Comments Off

Sign that the subject is growing, studying the Assembly on Thursday a resolution to develop the "Made in France". Almost all candidates are trying to ride the wave of re-industrialization and the premium Franco-French. Decryption. The show of the Patrouille de France at the 24 Hours of Le Mans June 11, 2011.

The "Produce French" was on a roll. Not with consumers who are now unable to say whether the product they buy is French. But with the presidential candidates, who feel that the niche is a carrier in France suffering from deindustrialization and offshoring. In April the presidential campaign will be "made in France" or will not … as evidenced by programs across the political spectrum.  

"Label France" to François Bayrou, "social VAT" which does not say his name to Nicolas Sarkozy, or "green tax" European borders for Francis Holland, no shortage of ideas to revive the power of the large French industry. Sign that the subject is back, the National Assembly must still vote on Thursday a resolution of the UMP group to develop the made in France. "We can not accept a plate made in China with a French grip is marked Made in France", said Christian Estrosi, the former minister of industry, which requires that only products with more than 55% French-made can be labeled lights

To observers, the subject is particularly appropriate at this time of crisis. "The produce in France reflects a strong concern in France," said Brice Teinturier including Ipsos. Marine Le Pen has understood, she makes out of Europe and the imposition of border taxes, one of the central axes of the program.

According to the Ipsos polling institute, the thrust of François Bayrou in the polls would also be put on the account of his industrial chauvinism. "In the collective imagination, very hard on this issue, a great nation is a developed country, the rank of France in the world is partly linked to this," said Jerome Fourquet of the FIFG, author of a note on the French and deindustrialization.

The evidence in recent weeks with business Seafrance, Lejaby and Petroplus, who met an important echo in public opinion. And immediately rushed to the bedside of candidates employed in trouble … In late January, during his televised speech, Nicolas Sarkozy assured that it "would not drop the" factory of Lejaby Yssingeaux. Mission accomplished on Wednesday, with the guarantee of a Franco-French buyer, supplier of LVMH. In December Francois Hollande was going to visit the factory Eolane coming to repatriate the production of digital tablets of Taiwan in France. Examples of many that reveal a certain state of mind. When France finally announced this week that it had "almost" sold its Rafale to India is the patriotism of all the French that seemed to vibrate at the same time.

Now the candidates are fighting over who introduced the theme in the campaign. François Bayrou claims to be the first to have spoken, but the UMP to dispute the paternity of the concept in 2009, Yves Jégo was commissioned by Nicolas Sarkozy to write a report on the "Brand France". However all are cautious to ride the wave red white blue. They probably fear of being accused of being anti-European and playing the withdrawal. Recently, Pascal Lamy, the WTO chief warned states against the return of protectionism in times of crisis. And each G20 member states undertake to protect no matter what free trade.

Remains how far will the candidates in their promotion of "industrial patriotism" as described Francois Hollande. "Stay there be in the scoop and the incantatory speech or do we put the hands dirty?", Says Jérôme Fourquet. "The risk is that these ideas are only recovered by the political extremes, and they definitely go out of public debate," laments Stamberger Benjamin Masse, co-author of "Inevitable protectionism," and journalist for L'Express.

Ultimately, everything may depend of the evolution of the candidates in the polls. If Jean-Luc Mélenchon with his "European protectionism" were to make a breakthrough surprise, this could change all that …

December 1, 2011 - 3:35 pm Comments Off

The President of Finmeccanica Pier Francesco Guarguaglini resigned, while the Italian advocacy group is the center of a corruption scandal, said on Thursday a source familiar with the matter.

The information was confirmed by the group a few minutes later.

The Board has appointed the current Chief Executive Officer Giuseppe Orsi Group to replace him, the source added which states that it will combine the two functions.

The group is weakened by an investigation into suspicions of corruption that affects some of its most senior officials.

The Italian government is a shareholder of the group of aerospace and defense to the tune of 32% and this scandal is the first figure of political test for the new government led by Mario Monti.

November 22, 2011 - 4:55 pm Comments Off

The German group E. ON community service expects to eliminate nearly 11,000 jobs, or about 14% of its workforce, to reduce its costs after the Berlin decision to phase out nuclear by 2022.

This figure is at the top of the range between 9000-11000 items discussed by the group last August, when the announcement of a restructuring of its operations.

"In the present state of our preliminary assessments, the number of jobs to be eliminated will be in the top of the announced range from 9,000 to 11,000," said the world number one industry by turnover.

The German group had 79,457 employees at the end of September.

November 7, 2011 - 9:55 am Comments Off

Faurecia announced Monday new medium-term financial goals with a turnover of 20 billion euros in 2015, growth should be driven by the dynamism of Asia and the demand for technologies to reduce greenhouse gas emissions.

The automotive world leader in exhaust systems owned 57.4% by the manufacturer PSA Peugeot Citroen, said the new goal was a 25% growth on sales estimated in 2011.

In late October, said the group had anticipated for the current year revenues from 15.7 to 15.9 billion euros.

"Faurecia is now (to) outperform three to four points growth in global automotive production," he said in a statement.

In his previous plan unveiled in June 2010, the equipment was a turnover of 16 billion euros in 2014 and an operating margin of 5-6% at the same horizon.

November 5, 2011 - 9:35 am Comments Off

A report by the Court of Auditors highlights communication costs without justification and without competition, often to the benefit of society Giacometti-Péron. Prime Minister Francois Fillon held a press conference at Matignon on a new austerity plan August 24, 2011

The Court of Auditors report a pin in communication costs the government (surveys, coaching), engaged in conditions "questionable" on topics far removed from some public action, and often to the benefit of society Giacometti-Péron. Pierre Giacometti, adviser to President Nicolas Sarkozy, is one of the leaders of this consultancy and strategy.Funding "survey on personal image of Ministers or distant subjects of government action is debatable," she adds.

As in 2008, with the study commissioned from the Institute Médiascopie on the "level of support generated by the remarks made by the Department of Defense" (Hervé Morin at the time), but also that "others "during the show" Make up your mind "of September 11, 2008. Or studies requested by the Department of Justice "about how media coverage of Rachida Dati," the Chancellery from 2007 to 2009, or on the image of the former Minister of Ecology Jean-Louis Borloo.

Expenditures "questionable"

"In general, the relationships between government and external service providers are not always consistent with the rules of public procurement," say the judges.

November 3, 2011 - 9:45 pm Comments Off

Russia is the country whose companies are most likely to pay bribes, followed closely by China, according to the annual ranking of Transparency International. Considered a good student, but the limit of the first third of the most virtuous, France is the 11th of the 28 countries studied. As for the sectors most likely to payments of bribes, kickbacks are building and public works and utilities. To establish his record of corruption exporting countries, the NGO has asked 3,000 business leaders worldwide to note how often the companies with which they do business engaged in corrupt practices, from 0 to 10 always, for ever. In images, the largest outbreaks of corruption.

1 / 10

Previous Previous PauseSuivant Russia: 6.1 / 10 Next

2 / 10

Previous Previous PauseSuivant China: 6.5 / 10 Next

3 / 10

Previous Previous PauseSuivant Mexico: 7 / 10 Next

4 / 10

Previous Previous PauseSuivant Indonesia: 7.

Wall Street ends up, the Dow gained 2.31%

October 22, 2011 - 4:35 am Comments Off

U.S. stocks ended sharply higher Friday as investors welcoming the results exceeded expectations of big names from the coast and anticipating a positive outcome to the crisis of debt in the euro area.

The Dow Jones gained 2.31% or 267.01 points to 11,808.79 points. The Standard & Poor's has been 1.88% or 22.86 points to 1238.25 points.The Nasdaq Composite was awarded 1.49% or 38.84 points to 2637.46 points.

For the week, the Dow rose 1.3%, the S & P 1.1% but the Nasdaq fell 1.1%.

Obstacles remain on the path to solving the crisis in the euro area and major differences still separate France and Germany, but investors appreciate that the leaders of the euro area are set a deadline to Wednesday.

A meeting between Nicolas Sarkozy, Angela Merkel, José Manuel Barroso and Herman van Rompuy will be held Saturday night in Brussels on the eve of the summit of the EU and the euro area on the debt crisis. This meeting will be preceded by a bilateral meeting between French President and German Chancellor.In addition, the principle of a new special meeting of the Eurogroup summit by the euro area on Wednesday, is also acquired.

In addition, the finance ministers of the euro area approved Friday the release of the sixth tranche of aid to Greece. This round of eight billion euros must now be approved by the International Monetary Fund.

This is the third week of up to the S & P, the most since February. The benchmark index fund managers will have to get out of the range 1230 and 1250 in which it tends to evolve.

On the values ​​front, McDonald's reported a better than expected for the third quarter. The value ended with a gain of 3.7% to 92.32 dollars.The index values ​​of consumption has advanced 2.8%.

Honeywell International jumped 5.8% to 51.28 dollars. The industrial group has raised its profit forecast after better than expected quarterly accounts.

General Electric has instead yielded 1.9% to 16.31 dollars. Investors are questioning the lower margin of the power equipment sector industrial conglomerate, in spite of the consolidated results as expected.

The S & P industrials, which includes GE and Honeywell, ended with a gain of 1.9%.

According to data from Thomson Reuters, the 133 companies in the S & P 500 that have released their quarterly accounts on Friday, showed 68% of profits above expectations.

Polemic on the decline in poverty in France

October 19, 2011 - 6:35 am Comments Off

A government report concludes that the proportion of poor in the population fell by two percentage points between 2006 and 2009. Associations contest.

Poverty has declined in France in 2009, according to a government report Wednesday quoted by Liberation, but the calculation is disputed by the associations and does not match that of the INSEE. In this "Report to Parliament" from the Ministry of Solidarity and Social Cohesion that has purchased the newspaper, "the proportion of poor in the population increased from 13.1% in 2006 to 11.8% in 2009" .

This report on "monitoring the goal of reduction of one third of poverty in five years," must be made public every year since 2009. The Ministry was not immediately able to provide this document. According to Liberation, he cites specific figures: there were 7.5 million poor in 2007 and 7.1 million in 2009.

But the report is based primarily on an indicator, "income poverty rooted in time" that keeps the poverty past, simply adjusted for inflation. It is not the same as published annually by INSEE, namely the indicator of "relative poverty", which takes into account the evolution of the median. It is criticized by many associations aid the poor, as ATD Fourth World, which believes that its method of calculation is mechanically lower the poverty rate.

The latest study by the INSEE published in late August, the proportion of people living below the poverty line or less than 954 euros per month, increased in 2009 to 13.5% of the population living in metropolitan France. In 2009, 8.2 million people were considered poor, against 7.84 million in 2008, detailed the Statistical Institute.

In an interview Wednesday Liberation Solidarity Minister, Roselyne Bachelot, said the report was "in some way a reflection" of the financial crisis. "Poverty is a complex phenomenon that can not be measured through a single indicator," she also said.

The Assembly vote of the French state guarantees for Dexia

October 17, 2011 - 5:55 pm Comments Off

French deputies adopted Monday by 49 votes to 25 against the bill authorizing the state to provide guarantees to the restructuring of the Franco-Belgian bank Dexia to facilitate its dismantling.

The UMP, which holds an absolute majority in the Assembly, and the group of the New Centre (NC) voted this draft supplementary budget ("collective") for 2011, reviewed by expedited review in the Senate turn Wednesday night.

The leftist opposition voted against. "We vote against it because what we present is completely blurred. The minister did not believe," said Christian Eckert (PS).

The left is now a majority in the upper house, the text may be released Wednesday.It will then be made a new reading in the Assembly who constitutionally has the final say.

"The adoption of this supplementary budget is an issue of responsibility. Dexia's customers like the creditors must have confidence that states have kept their word.Our communities in turn can rely on this feature to continue to invest for the benefit of the economy, "said Baroin, the Minister of Economy.

This restructuring plan, arrested Oct. 10 by the board of directors of the group and approved by the Belgian, French and Luxembourg, Dexia provides for the dismantling.

The bank, founded in 1996 with the merger of Crédit local de France and Crédit Communal de Belgique, had already received a bailout in 2008.

The decommissioning plan provides that Dexia France, Belgium and Luxembourg will provide 90 billion euros in guarantees for its financing needs with 60.5% for Belgium, 36.5% for France and 3% Luxembourg.

The new supplementary budget offers a double guarantee.First, the funding will enable Dexia to borrow on the markets with the guarantee of France, Belgium and Luxembourg, the maximum total outstanding amount of 90 billion euros for a period of ten years maximum.

The second guarantee, up to 10 billion euros, is for a fraction of the portfolio of loans to local authorities of Dexia that the new structure controlled by the Deposit (CDSC) and the Post Bank will acquire.

The Belgian part of the rescue of Dexia was temporarily authorized Monday by the European Commission, however, that announces the opening of an investigation to ensure that the operation does not violate the rules on state aid and application Belgium to submit within six months a new restructuring plan of the bank.

Why is the deficit of France explodes

September 16, 2011 - 12:35 am Comments Off

The French trade deficit will break all records this year to 75 billion euros. The increase in the energy bill is not the only cause. Lack of competitiveness, weak SME export … The handicaps of France are numerous. View of the Port of Marseille

75 billion euros: this amount should be – unusually high – the French deficit this year. The calculation is not hard to do. During the first half, the difference between our imports and exports amounted to 37.5 billion. So just multiply by two.

Usually, this kind of calculation is dangerous: economics, trends can vary greatly from one semester to the next. However, the deficit seems to have found a new anchor monthly, around 6 billion euros, experts note.Over the last twelve months, the French trade deficit reached a staggering 67.21 billion euros, a record.

To explain this collapse, some are bound to mention the cost of the oil bill. However, the reality is different, say economists Assya financial company. The root cause of our deficit is the lack of competitiveness. Our industry specialization is too focused on capital goods (22% of our exports, against 50% across the Rhine).This area is yet one who benefits most from the recovery phase.

Domestic production does not meet the needs of the French

Other handicaps: our largest trading partner remains the euro area, which has the lowest global growth for ten years, the costs of production, regulatory and tax burdens encourage French companies to produce abroad, while imports French are too strong, particularly because there are too many products that are no longer manufactured in the Hexagon. In other words, domestic production meets less consumption needs of the French.

Not throw away the cup is full. Well, not quite: France also has a problem with SMEs.While large French companies such as Airbus, Alstom or Areva, signed major contracts abroad, which shows that the French technology is extremely competitive, SMEs, they have difficulty, confirms Bertrand Macabeo, Managing Director of Kompass International. Yet they represent 90% of French companies and 80% of employees!

In this area, the comparison with Germany hurts. Our neighbor has 300,000 exporting companies, representing three times the French strike force, estimated at 90 000 companies! Another figure hard to take: France, has approximately 30 000 exporters "accidental", that is to say companies that for one reason or another, fail to make sustainable export strategy. These problems go well beyond the surge in energy costs.And they are expensive: weighed down by the external deficit, growth is likely to become slightly negative in the third quarter.