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Rising prices stabilized in May in France

Wednesday, June 15th, 2011

Lull on the inflation front. The price increase was limited to 0.1% in May (+2% yoy), according to figures released Wednesday by the INSEE. "Increases and decreases balance almost note INSEE. The seasonal increase in prices of fresh produce is particularly strong this year and other food products is important for the contrary, prices of energy and transport services and communications are down. "

The food products saw prices rise by 1% in a month. Growth driven by fresh products (+3.4%).Fresh fruits such as they are down 1% year over year, recorded a jump of 8.1% in May! Other foods suffer the consequences of soaring agricultural commodities: coffee, tea and cocoa rose 2.1% (+6.2% yoy), oils and fats by +1.4% (+4, 7% a year), bread and cereals by 0.6% (+1.7% yoy) and meat by +0.6% (+2.2% yoy).

"This explains why the French have a real sense of erosion of their ability to consume: the rates of many symbolic products purchased daily and can vary abruptly, which frankly is not likely to reassure them," says Alexander Law , chief economist at Xerfi.

Decline in telecoms

For the first time in eight months, energy prices have however declined by 1.3% in May after an increase of similar magnitude in April (+11.3% yoy), following the fall in prices barrel of oil. In detail, fuels recorded a more moderate decline of this set, to -1.4% over the month. It is "both for seasonal reasons and because of different tax rates, advance INSEE.

All prices for services other stores edged up 0.1% in May while the telecommunication tariffs fell by 1.1% (-2.4% yoy). Manufacturing (automotive, furniture, clothing, …) are also down (-0.1%).

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The CAC 40 expected a slight increase

Monday, June 13th, 2011

Slight increase expected on Monday in the Paris Bourse, in the wake of the Asian stock markets, including that of Tokyo, weighed down by disappointing statistics, and uncertainties about the evolution of the global economy. On Friday, the benchmark index in Paris ended its session already clearly in the red (-1.90%) and signed a sixth consecutive week of decline, erasing its gains since the beginning of the year. At 8:15 AM, futures contracts on the CAC 40 advanced 0.17%, to 3803 points.

Clearly, the objective of the meeting will be to keep the bar of 3800 points, narrowly saved this weekend dernière.Aucun major macroeconomic indicator is expected for Monday of Pentecost, which is also expected to take place in low volumes. In this day of solidarity in which the majority of employees stay home, exchanges should in fact been limited.Especially as the business side, no publication is awaited. Again, macroeconomic considerations should therefore guide the market for the first weekly session, including uncertainties about the Greek situation.

Side currency, the euro remained under 1.44 dollars on Monday morning after he experienced back Friday when he was the most sold since the beginning of the month because of disagreements between the various parties the solution to support the Grèce.Vers 8:00 in Paris, the European single currency was worth 1.4343 dollars against 1.4348 dollars on Friday night after coming close last Monday the threshold of $ 1.47 for the first time in a month .

Same side of the volatility of oil prices in a market torn between the prospects of increased production by Saudi Arabia and the maintenance of quotas decided by OPEC.In morning trading, a barrel of light sweet crude for July delivery lost 9 cents 99.20 dollars. That of Brent North Sea crude for delivery gained 13 cents to equal 118.91 dollars.

As for values ​​to follow

Altran

Yves de Chaisemartin lost Friday the group's management, the Board of Directors of the technology consulting company has designated Philip Hall to replace him.

Air France – KLM

The airline's traffic in the Paris airports Roissy and Orly airports may be disrupted on Monday due to a strike notice filed by a union of mechanics on the ground, have we learned from the company.

LVMH

Sephora, the cosmetics distribution subsidiary of luxury group, said to have strengthened his hand in the round of Corsica in Russia, becoming the majority shareholder in nearly three years after joining the company's capital .

EDF

NPP Bugey in Ain, had to reduce its production by 10-15% in late May and early June due to increased water temperatures of the Rhone, an effect of the heat wave spring.

Eutelsat

San Marino RTV has selected two Eutelsat satellites to broadcast its programs through Italy and Europe as of June 13

EADS

Airbus chief says EADS, parent company of Airbus, would be protected against hostile takeover bids but, to this end, it was not essential that Germany be a shareholder in the group.

Carrefour

The management of the distribution group said Sunday, a day after a protest movement, have made a major effort for employees of Carrefour Market stores in terms of purchasing power.

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EU urges Russia to lift its ban on vegetables

Thursday, June 2nd, 2011

The deadly bacteria causing 18 deaths in Europe after eating poisoned vegetables now also international relations. While the European Commission has lifted its warning on Wednesday cucumbers Spanish, initially suspected of carrying the infection, Moscow took the initiative Thursday to suspend imports of vegetables from Europe, provoking the ire of Brussels.

"The ban on imports of fresh vegetables, which concerns all countries of the European Union takes effect this (Thursday) morning," said the head of the Russian agency for consumer protection, Gennady Onishchenko. Vegetables already imported from the EU "will be entered in all Russia," he added. Believing that health standards were followed by Russia with more professionalism than in the EU, he invited the Russians to buy local.Epidemic 'shows that European health legislation, which some press Russia to adopt, does not work, "he judged.

This measure was "disproportionate" by Brussels, which called for the immediate lifting of the embargo. The European Commissioner for Health, John Dalli, sent a letter to the Russian authorities to express its concern.The Commission argued that the outbreak is confined "to a limited geographical area, mostly to the north of Germany" and has "kept fully informed about the epidemic situation in a transparent manner all its trading partners, including Russia, and will continue to do so. "

According to the EU executive, the EU exports of fresh vegetables to Russia account for 600 million euros per year.

Spain is a lack of clarity on rules

For their part, the Spanish authorities have announced their intention to seek compensation for losses suffered by the export market of local vegetables. Spanish cucumbers were charged initially have transmitted the deadly bacterium in Germany, before analysis invalidate this theory.The European Commission, which had issued a warning to its consumers, has lifted its warning on Wednesday night.

There is not the "slightest evidence" of involvement of Spanish products in the deadly outbreak of diarrhea, reaffirmed the Spanish Prime Minister Jose Luis Rodriguez Zapatero on Thursday. Madrid will "require the repair of damage (for its agriculture, ie) before the competent bodies in Europe," he said.

He however regretted that the Commission has not had a reaction "more clear" in this case, "particularly in clarifying what are the rules in the European Union regarding the borders." Several European countries have stopped buying fruit and vegetables in Spain because of this crisis."Now we have a task ahead of us, very ambitious, which is to recover as quickly as the good reputation and marketing of all Spanish products," said Zapatero.

The portuguese authorities have also sent a report to the European Commission on the impact of the crisis on domestic agriculture, seeking compensation for producers. "In one week we already had a prejudice about two million. I hope the Commission will quickly identify those responsible and compensate the countries that experienced a negative impact on production, "said Portuguese Agriculture Minister, Antonio Serrano.

(With AFP)

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Fuel: a gesture of 115 million euros

Monday, April 11th, 2011

Producers, refiners and distributors of French petroleum fund to the tune of 115 million euros increase in tax deductions related to fuel costs, a "drain" on their profits that will benefit six million of taxpayers.

This measure implements the contribution of the sector with measures that would cushion the blow of soaring pump prices, which reignited the debate on fuel taxes and the state's capacity to curb the soaring costs of household energy, accounting for about 8% of their budget.

"This morning, the oil industry players have agreed to contribute to reducing the oil bill of the French," said Christine Lagarde, Minister of Economy, during a press conference at the end of a meeting with industrialists.Specifically, they will fund the cost of upgrading from 4.6% of the fee structure of fuels that employees and independent workers can elect to deduct from their taxable income. This measure is expected to reach five million workers, 500,000 people in professional and 500,000 merchants and craftsmen, "said Frédéric Lefebvre, Secretary of State for Trade.

"Aspiration"

The funding provided by the manufacturers take the form of a tax allowance for price increases passed in the 2010 accounts. It will weigh up to 60% on producers and refiners "in particular the Total group," said Christine Lagarde, and 40% on distributors, who declined an invitation to the meeting of Bercy."It's a real drain on the refining and marketing French," late Jean-Louis Schilansky, president of the French Union of Petroleum Industries (Ufip), explaining that rising crude oil mainly benefiting producers and not processors. "Crude prices are high, it's true, but on the refining and distribution, ie those who process, the situation is not good," he said.

The 115 million financed by the sector represents 1.1% of annual earnings released by the only group Total in February. The government also gave good marks to manufacturers on compliance with the regulation of pricing in gas stations. In 4008 retail outlets controlled only 37 minutes have been prepared, a violation rate of only 0.7%, says Bercy.

Christine Lagarde has again ruled out any change, even if only temporary, the regime of TIPP, the domestic tax on petroleum products, primary levy on fuel online payday loans. "This is a tax that is not based on the value but is based on the volumes. So the state today is not a kitty under the TIPP, "said the minister. "The solution TIPP is not a solution."

No checks for fuel

She also rejected the idea, advocated by some consumer groups for a "check fuel" on the principle of the meal ticket. "It was never discussed," she said. Before signing the agreement with oil companies has been criticized Monday by Jean-Claude Mailly, secretary general of the Workers Force union, which regretted the look "complicated" of his application."It means that it is a tax deduction on income, so must still pay tax on income. I recall that nearly 50% of households do not pay because they are below the threshold, "he said on RTL.

"It's still a bit of a side gas plant. The easiest thing is that it appears one way or another on the payroll, "he added.

A barrel of Brent oil trading at nearly 126 dollars on Monday, against less than $ 75 in late August and less than $ 40 in late 2008. This increase was driven among others by social and political tensions in the Middle East and the prospect of increased Japanese demand after the nuclear accident in Fukushima.Prices at the pump in France are relayed back to the highs set in 2008, the liter of diesel than EUR 1.36 and the super unleaded 98 1.54 euros.

Christine Lagarde, who reported only 0.7% of crimes with penalties of 4,000 inspections carried out by the Directorate General for Consumer, Competition and Repression of Fraud (DGCCRF), assured that the service stations in compliance regulations on the pricing of fuel and that "The evolution of margins in the sector has followed so exactly corollary increases or decreases (…) of commodity prices."She added that sanctions were taken against the offenders.

(With agencies)

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The false espionage affair cost $ 11 million to Renault

Saturday, April 9th, 2011

The false espionage affair may be very expensive for Renault. According to a survey published tomorrow Marianne, the three executives dismissed wrongly claiming the automaker between 2.4 and 3.2 million euros for moral prejudice. Unprecedented amounts, with the exception of the 45 million euros paid to Bernard Tapie in connection with the Credit Lyonnais case, and in addition to statutory compensation and unfair dismissal. In total, the addition to the builder could climb to 11 million euros.

The three executives, who made between 12 and 32-year career at Renault, has already received compensation law: 480,000 euros for Michel Balthazar, 200,000 euros and 50,000 euros Bertrand Rochette Matthieu Tenenbaum, according to Marianne.He will also receive compensation for wrongful dismissal amounting respectively to 750,000 euros, 500,000 euros and 120,000 euros.

Abuse of social good or tribunal

Each also claims are moral damages, which are considerably higher than these amounts.Michel Balthazard require 3.2 million euros, Bertrand Rochette 3 guaranteed approval cash advance loans.5 million euros and Matthieu Tenenbaum 2.4 million euros.

As for Philippe Clogenson also dismissed under an earlier anonymous tip, the same type as that which launched the pseudo-espionage, he could rejoin the group with a salary higher than previous financial compensation to approximately 300,000 euros.

Renaut now faces a dilemma: if the group agrees to pay the sums demanded by executives wrongfully dismissed, "she takes the risk, in turn, be a complaint for abuse of social good," writes Marianne. "Conversely, if Renault refuses to bow to their financial demands, the company takes the risk of sounding prud'hommal trial and a new media campaign, terrible for the image of the brand and, most importantly, for its CEO. "

The decision could be taken at a meeting of the Board extraordianaire Renault scheduled April 11.

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Axel Springer may withdraw SeLoger.com Exchange

Wednesday, March 23rd, 2011

The German publisher Axel Springer has gained control over 95% of the company of small ads on the Internet Seloger.com from the extension of its tender offer (OPA) announced the Authority Financial Markets (AMF), confirming a report from Reuters. "It (score) Stalinist," said one of those people.

The success of this operation means that SeLoger.com may soon bid farewell to the Exchange. Indeed, the French stock exchange law authorizes the issuer of a tender offer to delist its target if he can control at least 95% of its capital at the end of its range. The results of the extension of the tender offer to 38.05 euros per share is expected to be formally announced Wednesday by the Financial Markets Authority (AMF).

A company owning more than 95% of another listed company for the possibility to via IPO Squeeze (OPRO), to redeem all shares on the market. Investors then have the obligation to tender their shares to the offer as opposed to a takeover bid. This procedure is also called "squeeze out". Specifically, the delisting occurs most often in the form of a Public Buyout Offer (OPR) followed by a takeover of Squeeze (OPRO, which will compensate the shareholders of the company fast payday loan no faxing.

The delisting is not excluded

Axel Springer has not formally ruled out making a "squeeze-out on SeLoger.com, but also said he has nothing against the act of keeping one of its acquisitions listed, as is still the case for Aufeminin, another French star net bought by the German publisher.Out a group of stock and raise its stake to 100% allows the shareholder to make a tax consolidation and reassembling easier dividends to the parent.

For its part, SeLoger.com announced Monday that he expected a double digit growth of its key financial indicators in 2011 thanks to record levels of hearing and that he intended to double its dividend . After a fierce battle market, Axel Springer was able to convince management and major shareholders of SeLoger.com. After his first offer, the publisher of the German tabloid Bild controlled nearly 75% stake in the company.

(With agencies)

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The strategic plan of Crédit Agricole disappoints

Thursday, March 17th, 2011

"Our ambition is strong and serene, but without straws," says Jean-Paul Chifflet, CEO of Credit Agricole in an interview with Les Echos on Thursday. "I keep my promises." While the group presented on Thursday its strategic plan 2011-2014, who is head of the first French banking group (21 million customers) confirming the objectives announced last year, net banking income exceeding 25 billion euros and a net profit of group of six to seven billion euros in 2014 is double that recorded in 2010, "which was between 3 and 3.5 billion euros excluding one-off" according to Jean-Paul and Chifflet 1.26 billion if one includes them.

The banking group and does not sell the 20% stake in Spanish bank Bankinter and its two subsidiaries Cheuvreux and CLSA if talks with China's Citic Securitiesen for a reconciliation fail."We will probably changes in activities that are not considered core business," says Jean-Paul Chifflet.

"To become the reference in Europe in terms of proximity"

To meet its objectives, the group has a priority focus on organic growth in all sectors guaranteed fast personal loans. "We've done these past years of large transactions, recalled the general manager of Credit Agricole SA (Crédit Lyonnais, Indosuez, Finaref Cariparma, etc..). The priority now is to reap all the benefits and amplify the effect group. "

The banking group hopes to remain a leader in France and aims for it to grow by 2% to 3% per year in the Regional Banks and Crédit Lyonnais. And this, staying engaged in Europe. "This market remains a market of interest", says Jean-Paul Chifflet. In 2020, it still represents 32% of global GDP.We're very comfortable. " The officer cited the example of the areas of environmental economics, health, welfare, retirement, food or housing. "We want to become the reference in Europe in terms of proximity," he says in the Financial Times on Thursday. In this segment, Credit Agricole targets a revenue growth of between 10% and 12% per year on average.

At the Paris Bourse, the title loses 0.53% to 11.22 euros while the CAC 40 climbed 1.17% to 3739.79 points.

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Bonduelle will least in her pea salad

Saturday, March 12th, 2011

There will be less of peas in the salad vegetables Bonduelle. And more green beans. "We adjust the components of our products based on crops," says Daniel Vielfaure, Managing Director of Bonduelle. Of industrial crops (peas, corn, mushrooms …) suffered last year in fires and floods in Eastern Europe. "We expect pressure on the stocks of many vegetables," says Daniel Vielfaure. The group will also ease off on promotions, which represent 50% of volumes, and slow sales. At the risk of not being able to fulfill orders from distributors. "Planting now beginning. We will play on soils and varieties of vegetables to be a campaign earlier this year.We will then arrange the plants to fill up stocks, "says CEO Bonduelle.

Products Active Kids

The group hopes to finally turn the page of weather events that have seriously affected its profitability. In the first half (July to December 2010) of its 2010-2011 fiscal year, the rising cost of production due to bad weather and lower prices – due to high inventories of 2009 – contributed to a decline of 38.5 % of net income. This deterioration in profitability, particularly marked in Europe, is expected to accelerate in the second half. "We expect a rebound in 2011-2012 due to higher prices at the best loading of factories and the recovery of consumption in highly profitable areas such as North America and Central and Eastern Europe," states Christopher Bonduelle, CEO of the group, including 54% sales comes from cans credit report.

In France, Bonduelle has signed with signs of rate increases of 8.5%. On the front of labels (MDD), which represent 43% of group production, the rate increases could be even higher. In France, the Group strengthened its presence (19.2% market share) through the acquisition last year of France and the mushroom growth in its premium brand Cassegrain (+0.5 point). As for the Bonduelle brand, which has stagnated for a year, she should enjoy the success of canned steamed vegetables (2010) and good health found in the deli.

Leading brand in salads, Bonduelle has invested last month with his vegetables segment of trendy "box" previously monopolized by the pasta (Sodeb'O, Fleury Michon, Lustucru …).Popular with young professionals, this segment – which accounts for 60% of the growth of individual dishes – should see its volumes double this year.

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500 million euros more for employment

Saturday, February 12th, 2011

Nicolas Sarkozy announced Thursday that the government would generate an additional EUR 500 million in the budget for the job to fight against the long-term unemployment and promote early learning. "We will mobilize all our forces" for the job, said the head of state. "Growth has returned, the signs are encouraging, it'll work." Guest on the program "French Song" on TF1, the president said the new investment would be offset by savings in other departmental budgets.

Nicolas Sarkozy, who announced a year ago, during the same fiscal response to the French on TF1, "unemployment would fall in the months to come," was in a difficult position this Thursday evening when the situation is far from s be improved on the unemployment front in France.Although 2010 has been less dramatic than the 2009 balance sheet remains very negative.

Employment "at the heart of the priorities" of government

The hexagon returns to levels not seen since more than ten years: 31 December, there were between 2.72 and 4.05 million unemployed by their category. Be between 80,100 and 202,500 job seekers from a year earlier, however, increases 2-5 times lower than in registred in 2009.

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France 24: Pouzilhac exonerates Ockrent

Friday, January 21st, 2011

The board of directors of the Audiovisual outside France (AEF) held in an atmosphere with a knife to cut both the relationship between Alain de Pouzilhac and Christine Ockrent is tight for six months. However, Alain de Pouzilhac has agreed to a gesture saying "Christine has nothing to do in this case" and arguing that it considered itself reached in his honor by the charges of hacking which is the subject .

The CEO of external broadcasting also said that the crime involved only "the holding structure and not the television channel France 24", as has been claimed.

"An intolerable situation"

This subject was not upset to be addressed, but Michel Herbillon MP, representing the council has put his foot in it to evoke "an intolerable situation requiring an urgent solution for a company that carries the image of France to the abroad ".A position that would have caused the approval of qualified persons present, as well as staff representatives.

Another sticking point, the majority of the board expressed concern about the failure to sign the contract objectives and expected ways to fix the company's strategy until 2013. The state official promised a "speedy resolution".

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