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Archive for March, 2010

The Senate wants to limit the autoentrepreneuriat to 3 years

Wednesday, March 31st, 2010

A first scratch on the scheme which has boosted business creation in 2009? Following a round table organized in the Senate to take stock of the regime of self-contractor, several senators, including Jean Arthuis, chairman of the Finance Committee, proposed limiting the device over time. In practice, a self-contractor could not remain as three years. The purpose of this proposal, which should eventually be included as part of an amendment to a bill is twofold.

It aims mainly to prevent that, beyond the threshold turnover limit set by law, the self-declared cease contractors additional income rather than spending in the common law system. The measure aims both to limit the extent of undeclared work and to force these self-experienced entrepreneurs to move after three years to the classical scheme of the contractor.For companies under common law, and especially the artisans, complain of unfair competition that they oppose the self-entrepreneurs. According to INSEE statistics, one third of them practicing in effect as artisans, but does not pay the charges which have submitted their congeners.

"Either the regime is bad and should be abolished or he is good, and it must be sustainable"

The senators also want to impose an obligation to report sales, even if it is zero, see this as an opportunity "to increase accompanying autoentrepreneurs" says John Pouch, the deputy Senate payday loans. And thus better identify them.It is particularly possible to distinguish those who use the system for enhancing and supplementing their income for which the senators see no harm in what they are autoentrepreneurs much time they want – from those who Entrepreneurs are self-full time and are destined to become true entrepreneurs.

Herve Novelli has already voted against this measure, which he sees a way to complicate a system that owes much to its simplicity. In 2009, 320,000 entries were in fact registered as such. Unheard of.Fran?ois Hurel, President of the Union of Autoentrepreneurs says his side "does not quite understand this proposition, or the system is bad and should be abolished or he is good, and it must be sustainable 't believe he stressed that the establishment of the regime of self-contractor has already helped a lot of money back into the bosom of the state coffers. Finally, "from when to reauthorize eligible to enroll?" Asks he. So many questions to be answered by the senators.

Vinci project would benefit the TGV Tours-Bordeaux

Tuesday, March 30th, 2010

This Tuesday morning that the candidate for the mega railway project LGV Sud Europe Atlantique (SEA) to over 7 billion euros should be announced by R?seau Ferr? de France. This route will connect Tours to Bordeaux on a journey of 300 km, involving the construction of 40 overpasses and 390 bridges. Companies Bouygues, Vinci and Eiffage are on deck for this contract to allow linking Paris to Bordeaux in two hours instead of three now.

The winner will design, financing, construction and maintenance for 50 years in this concession. In return, it will be paid by revenues paid by companies using the railway line.

Work could begin in mid-2011, year of recovery for a provision in 2016.

Vinci, the darling

Vinci is anticipated to win this huge contract.According Latribune.fr Monday evening Vinci would have won the tender.

For Natixis Securities analysts, the business model of manufacturer-dealer and know-how are relevant for this type of project cash advance payday loan. In addition, its financial situation is excellent.

"If the group Vinci was nominated for LGV SEA, the title should react positively. This contract represents nearly 30% of its backlog, "said the broker.

Such an announcement could also benefit other manufacturers, the market showing that these large projects as expected will actually materialize.In fact, keep in mind that the candidates approached other railway projects will be announced in the coming months, including LGV Bretagne (4 billion estimated), which will link to Paris in 1h30 Rennes and Brest in 3 hours and N?mes-Montpellier (1.2 billion).

According to Natixis, "it seems unlikely that a candidate wins more of these three railway projects.

Funding unpublished

In terms of funding, the project should receive the government guarantee and the savings of the CDC.

Sarkozy calls Obama "listen Europe

Tuesday, March 30th, 2010

From one of our correspondents in New York

Sarkozy the American, the return. Dampened by the failure of regional confronted with doubts of his majority, battered in the polls, the president could not find better than this visit to the United States to escape the burdens hexagonal. The chances of diplomatic agenda sometimes things well. A discreet arrival Saturday in New York, along with Carla Sarkozy, the ritual of jogging in Central Park on Sunday morning, then a family day, away from cameras and microphones before the official on the scene Monday morning, with a speech at Columbia University.

The opportunity for Nicolas Sarkozy to urge "a friend" the United States to "work with Europe to invent a new global model", in order to regulate capitalism, stabilize currencies and improve governance World."If Europe and the United States do not invent this new model, nobody will," argued the head of state before several hundred students and professors from the prestigious University of New York. Amount to the podium in an imposing neoclassical dome, Nicolas Sarkozy has openly made his speech to his aide – "if you read this kills creativity", he said, before launching into a very controlled improvisation. "The crisis we've known we offer extraordinary opportunities," said the head of state. By asking the regulation of capitalism, I lay the groundwork that will save capitalism without rules is killing freedom, "he said, a few" blocks "of Wall Street, the epicenter of the financial earthquake.

"Irresponsible"

In the field of environment, access to raw materials, Nicolas Sarkozy has also called for support of the United States. "In two years, the price of oil has risen from 30 to 150 dollars, is this normal?," He noted. Have we no interest in laying the foundations for a regulation that would have a barrel to 80 dollars? "Even imperative of transatlantic cooperation for reform of global governance" that the United States and Europe must request. It will, he said, the resolution of major challenges such as Iran, against which "the alliance with the United States is fundamental, but also the fight against terrorism.

"We love you, admire you, we expect a lot from you," Nicolas Sarkozy has launched the Americans.A friend, therefore, but a demanding friend, who also does not hesitate to lecture the United States, calling for tolerance, "not closing" on themselves and listen to Europe. For, he launched the first world power, "no nation, however strong it is, can the twenty-first century impose its views to the world."

"Some hundreds of irresponsible done anything with the money of others is indefensible," he also said the French president, warned that "the same are ready to begin. "There are hundreds of thousands of Americans who lost their jobs because of this crisis, is this normal?" Asked by a student on the reform of the health system, Nicolas Sarkozy congratulated Barack Obama. But he also gave a pike: "When we see this debate on health, it was sometimes hard to believe, in Europe it is fifty years we have solved the problem.In France, we do not ask your credit card before going to hospital ", he shackled, before launching his audience:" Welcome to the club of states that do not allow people to fall sick! "

Minutes Zacharias: pugnacious defense of the former CEO of Vinci

Friday, March 26th, 2010

Three-piece suit, white shirt and dark tie, the former CEO of Vinci, Antoine Zacharias, has always understated elegance of a great boss. Yet this 70-year-old retiree, who wears a hearing aid, had presided at Thursday yet another board. He appeared for abuse of company property before the fifteenth penal court of Nanterre. Specifically, he complains of having put his own men in the compensation committee of the group to inflate his fees have skyrocketed: a severance bonus of 12.5 million euros, an annual retreat of 2 1 million, gains on stock-option 124 million …

Faced with such accusations, it was expected that Antoine Zacharias lose its superb. After all, it is the first French skipper prosecuted for excessive pay, while his business was booming.In fact, he kept his legendary pugnacity and always distills his little quips. When the President, Isabelle Prevost-Desprez, asks him to track his career, thanked the engineer by Vinci in June 2006 took the opportunity to give a few scratches. Guy Dejouany, his former boss at the General Society of waters in the 1990s? "The man was a tyrant. Perhaps the most difficult period of my life. "Alain Minc who sat on the board of Vinci? "He has a big ego."

And as Isabelle Prevost-Desprez do not let them count, this gives rise to a few passages of arms tasty payday loan . Especially when it comes to whether Antoine Zacharias has ensured that the remuneration committee Vinci is completely renewed."Mr Faure, who was sitting there says you have transferred to establish a committee more complacent. So, did you collect? "Asks the president. "No," replied tit for tat the former CEO of the CAC 40. They lie. "

A retreat "exceptional"

Gradually, Isabelle Prevost-Desprez is accumulating evidence that endanger Antoine Zacharias. Thus, it is disturbing that this new committee has ignored the advice of Towers Perrin warned against "inflation risks" associated with a change in the calculation of salary Zacharias.Also troubling that the point of view of the firm Cardif estimating the amount of the pension provided for ex-boss "exceptional" has been ignored.

In response, Antoine Zacharias has a clear line of defense that summarizes in one sentence: "One thing that is ignored by any board, and they do not know an ounce is the pay of the boss. "He received the unexpected support of Vinci, yet civil party in the record. "When they vote earnings for 2004 by Zacharias, administrators know that all this makes up 14%," said Georges Jourde, counsel for the construction group. This morning, it was the turn of the attorney to his indictment. It is surprising that it shares the same view.

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Huge haul to the City

Wednesday, March 24th, 2010

Accused of laxity in recent years, the Constable of the British stock exchange and banks takes action. And hits hard. The Financial Services Authority (FSA) conducted yesterday in the arrest of six professionals from the City, after a commando operation, "the largest ever conducted in the context of a case of insider trading." The arrests come crown over two years efforts have gathered 143 of the FSA investigators and officers of a police unit attached to the Ministry of Interior.

London south-east England, computers and documents were seized sixteen addresses professional and personal. Of those arrested, one was working, according to the BBC, at Moore Capital, a hedge fund's most prominent in London guaranteed high risk personal loans .Two senior bankers from leading firms have also been arrested, said the FSA. These professionals are suspected of passing insider information to traders who have been through it, realize significant profits.

Earlier this month, the FSA had already ordered an ex-banker veteran Cazenove, broker to the queen. The UK intends to muscle its fight against market abuse. She plans to ask the firms in the City store and keep mobile phone conversations of some 16,000 employees.

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The business climate remains stable in March

Tuesday, March 23rd, 2010

The indicator of business climate has remained stable in March, to 91 points, according to figures released Tuesday by the INSEE. At the same time, the indicator of economic turnaround remains well oriented "for the tenth consecutive month, Insee said.

"The Climate Stabilization mask disparities between sectors: The climate in the industry is improving as he deteriorates in services and retailing," notes the INSEE.

In industry, the index of business climate earns three points to 94 points but remained below its long-term average. Stocks, albeit at very low levels continue to decline, according to business leaders surveyed by INSEE. The outlook for the coming months rose three points.

The situation is worse in services, the index lost two points to 87 points in March, against 89 in February."The economy is faltering," said INSEE and "slow in coming months." Business leaders review "sharply downward their expectations of activity compared to the February survey, INSEE noted.

The retail trade is suffering for its part a slowdown in recent months, particularly in the automobile. The index of business climate in the sector loses two points in March to 98 points. In the construction sector, the index remains stable at 93 points.

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Tidjane refuses the offer by Societe Generale

Saturday, March 20th, 2010

The announcement of the ambition of Societe Generale to enter the boss of iconic Prudential to its Board of Directors has made much noise on the Paris market. The leader of the British insurer eventually declined the offer of the French bank yesterday, twenty-four hours after Societe Generale said it had offered a seat on its Board of Directors.

Tidjane was "very flattered to have been chosen for the post of independent director at Societe Generale," calling the bank "remarkable company."He justified his decision by the challenges it faces today: "My priority is to continue to focus on achieving strong results for our shareholders, and the success of the strategic transaction with AIG, and the 'integration resulting payday advance .»

More than a personal choice, his refusal would have been motivated primarily by strong opposition from shareholders of Prudential to this project. These are indeed alarmed at the proposal of Societe Generale, fearing that Tidjane not dispersed at the crucial moment of the acquisition by Prudential's Asian operations of AIG.

"PORTRAIT – Tidjane breaks through glass ceiling

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MEDEF: Metallurgy sets its requirements

Saturday, March 20th, 2010

A matter of survival! Frederic Saint-Geours does not mince his words on Thursday night calling for a profound "recasting employers, on pain of extinction. "In an era of increased competition, where companies seek to reduce overhead and streamline their organization, employers can continue to live on and operate under a structure inherited from the postwar period, has hammered the President the UIMM, in closing the third annual convention of the federation. The employers' organization must meet the expectations of businesses by simplifying its structure (…).Remaining fragmented, we are threatened with extinction in the debate and public action. "

Less than three months to designate the future boss of bosses, the first president of the federation MEDEF has actually set a roadmap can not be clearer for any candidate who would boast the support of the UIMM.

More collegiality

For him, this overhaul is necessary for a "governance reform of MEDEF" he deems perfect. "To better represent the enormous diversity of landscape entrepreneurial French, Medef needs a mode more college (… ), which requires an exemplary collaboration with all components and inter-professional ", justified Frederic Saint-Geours, as the text of his speech – the meeting took place behind closed doors.

The roles must be "clearly established" between a president "in entrepreneurial function, a general manager" responsible for services and the thriving community "and a college of elected officials" fully involved in the preparation position papers and public negotiations with the unions. " A thinly veiled criticism of Laurence Parisot, president of MEDEF, full time since 2005, who spent three CEOs in less than two years and who is accused of taking unilateral decisions.

However, no question of leaving the MEDEF, ensure UIMM – which is one of the most important components. Instead, a call was launched "to restore unity around the MEDEF employers'. Not without asking the end of "fratricidal quarrels" with CGPME – which is also UIMM stick – and the architects of the UPA.The "fierce competition" which engage the employers 'confederations' and display their differences "prove" suicidal for the employers and weaken its position vis-?-vis the government and unions. "

The president of the UIMM also wants to end "the milfoil employer" to approximate the structures (territorial chambers, trade associations, chambers of commerce …). Metallurgy promises to lead by example.

Becoming "the spokesman of the unanimous opinion" of the industrial enterprises that were surveyed in preparation for this convention, Frederic Saint-Geours has finally stated intention to develop cooperation with the federations of industry (chemical, textile … ) "on three common issues, including the promotion of an enabling environment for economic and social competitiveness of industrial enterprises and enhancing their businesses.In short, strengthening the "inter-industry level. Quit walking on beds of MEDEF. Again, Laurence Parisot appreciate …

Greek official: he wins, he loses

Thursday, March 18th, 2010

Greek officials have contributed to widening deficits in the country, they will also largely improve public finances. And this, not until later that week. The Socialist government of George Papandreou has decided to tackle the bloated public sector to reduce the expenses of the Greek state.

The total number of Greek officials remain uncertain. The Ministry of Finance counts "approximately" 522,000 in the central administration, a figure which must be added 180,000 employees of local authorities and public enterprises, according to a spokesman. Some economists expect rather from 800,000 to 850,000 jobs, or about 35% of total employment, as argued by Jens Bastian of the Hellenic Foundation for European and Foreign Policy (ELIAMEP).

To achieve such a payroll, state and local governments have hired a vengeance. "In 2009, 12,000 people left in retirement and more than 29,000 were hired. In short, the entrants were almost two and a half times more numerous than the outgoing, "says Jens Bastian.

Clientelism

The trend is not new. "Until the current government, public service filled the role of an employment agency," said the economist. "The policies have also sought to use their electoral base as public servants."

According to Greek daily Kathimerini, the political patronage has been launched in the 80s by the Socialist Party (Pasok) and the then Prime Minister, Andreas Papandreou, who is none other than the father of George, currently head of Government savings account payday advance ."He wanted to give the excluded, which formed the core of its electorate, the means to live as middle class," says newspaper center-right. It was also "buy social peace" at any cost, continuing Kathimerini, while Greece emerged from the dictatorship of the Colonels.

The economy "coasting"

The Pasok is not solely to blame. "From 2004 to 2009, New Democracy (right) has made the situation worse by doing nothing to cut costs and increase government revenues, leaving the economy from free-wheeling," Kathimerini analysis.

The government of George Papandreou, under the combined pressure of the market and Brussels, has no alternative today to tighten the belt. He promised not to replace a retiring over the next five years. The thirteenth and fourteenth month salaries of civil servants will be reduced by 30% and 60%.The measures, announced in January and March, are retroactive and apply from 1 January. They will be more difficult to accept that they occur after 30 years of accommodative policies.

The CAC 40 ended in the 3900 points

Tuesday, March 16th, 2010

Ambiance morose Monday at the Paris Bourse. The CAC 40 has yielded 0.93% to finish the session at 3 890.91 points. The activity is particularly low, with about 2.5 billion traded on the great values of the Paris stock exchange. Other stock markets retreated in unison in London, the FTSE lost 0.57% and in Frankfurt the Dax dropped 0.70%. As for the European indices, the Euro Stoxx 50 index dropped 0.90%.

Caution was also needed on Wall Street before the meeting Tuesday of the Monetary Policy Committee of the Federal Reserve. In session, the Dow Jones lost 0.38% and 0.87% on Nasdaq. The Fed should keep its no surprise key interest rate, the interbank rate on a daily close to zero and reiterate its commitment to maintain a low level for a "prolonged period".More than the rate decision widely expected, investors will scrutinize the speeches of leaders of the U.S. central bank. They watch for a possible change in tone or vocabulary that could be the harbinger of early recovery in interbank rates, especially after raising the discount rate last month low fee cash advance .

Increased industrial production

The announcement Monday of a U.S. industrial production slightly exceeded expectations in February, rising for the eighth consecutive month, failed to take the course up.

In New York and Paris the past experts of raw materials and steel were under pressure, pulled down by rising greenback.Also note on Wall Street, as the parent company of Calvin Klein, the Philips-Van Heusen, jumped more than 10%. The group will buy the brand of leisure wear Tommy Hilfiger in UK investment funds Apax Partners, creating a new giant of the fashion and confirming thaw market mergers and acquisitions.

Banks that had climbed a lot these last time also suffered profit taking. Societe Generale has yielded 2.24%, 1.77% Credit Agricole and BNP Paribas 1.21%.

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