Posts Tagged ‘world’

« Older Entries
Newer Entries »

Greece threatens to set aside at Air France

Sunday, July 24th, 2011

Much bagaille should be avoided. While seven union stewards and hostesses of Air France had filed a strike notice for the next weekend (July 29 to August 1), the airline has come this Saturday morning to sign the minutes of end of conflict with union representatives. What not to many flight cancellations in the great cross-driven summer from July to August, and escape the nightmare scenario met in mid-July by the customers of Air Algeria. The Algerian company was also affected by a strike of its crews, resulting in the virtual paralysis of European flights to the country.

Whereas yesterday, the agreement has been finally found Saturday afternoon between the airline and the Inter (CGT, CFDT, CFTC, Unac, NPNC and UNSA), resulting in the lifting of the strike notice filed Monday.Only Southern Air has so far not given its approval. The seven organizations representing the commercial crews (PNC) called for the opening of negotiations on the organization of work, especially in the bases in the provinces, but also the medium-haul and long haul. This is now done, the group of Pierre-Henri Gourgeon has agreed to reopen discussions on the new rules of work (rest, compensation) provided to counter competition from low cost carriers.

Reopen negotiations next week

On this point, the flight attendants are opposed to such requirements in the new provincial bases (Marseille and Nice, Toulouse and Bordeaux) and denounce the proposed removal of a sailing aboard the Airbus A319.They are supported in their claims by two minority unions of pilots (SPAF and Alter) who in turn refused to lift their notice for the next weekend. "The company has agreed to supply four A319 in the PNC until September 15," said Philippe Sport at UNSA. If it is impossible to have this number, the flight attendants should receive compensation (rest or premium). For its part, Air France said that the continuation of strike notice SPAF and Alter would have no significant impact on traffic. The reopening of negotiations with the flight crew should take place in the course of next week.

Still, the difficulties are not entirely discarded the French company, far from it. Management must also deal with Algeria-leAir SNPL resumption of talks, the union super majority in pilots.While the SNPL signed to 54% the proposed new work organization. But this time, the battle moves to the front of pensions. The powerful union remains opposed to the proposed reform of the pension fund additional pilots. Where a notice of strike filed this time from August 5 to 8, another busy weekend on the front of air traffic and going on holiday.

ALSO READ:

"Algeria-Air passengers compensated?

"Air-Algeria resumption of talks

Tags: , , , ,
Posted in Uncategorized, life, opinions, special, technology | Comments Off

Good results support Wall Street

Friday, July 15th, 2011

Wall Street opened up Friday, the good quarterly results published by Google and Citigroup offset concerns over the sovereign debt of both sides of the Atlantic. A few minutes after the opening, the Dow Jones gained 0.5% (62.28 points) to 12,499.40, the S & P 500 took 0.6% (7.87 points) to 1,316.74 and the Nasdaq Composite progressed from 0.97% (26.67 points) to 2789.34. Thursday, Wall Street has ended in the red.

The New York Stock Exchange, however, could be subject to significant headwinds on Friday, with one hand the threat of Standard and Poor's rating on the United States and comments from the Fed that has dampened hopes of new measures support the economy, and the other successful companies including Google, which announced Thursday after the close of figures well above expectations.

The issue of U.S. debt should again be a central concern of investors. The negotiations started on the subject by U.S. President Barack Obama with the Republican opposition are currently deadlocked, Republicans a majority in the House of Representatives refused to vote an increase in attacks and demanding that the deficit .

Finally, sovereign debt in the euro area will remain a central concern.No date has been officially given for the planned summit between European leaders to try to stop the contagion of the debt crisis, a blur that weighs more on investor sentiment.

On the foreign exchange market, the euro has stabilized against the dollar at 1.4140 dollars against 1.4141 dollars last night. The euro rose slightly, however, against the Japanese currency to 112.03 yen against 111.89 yen yesterday. On the commodities market in the current context of heightened uncertainty about the public debt in Europe and the United States, gold is looking for: the metal-King reached a new record yesterday to 1594.45 dollars. It flows back slightly this morning.On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for August delivery traded at 96.46 dollars, up 77 cents from the previous day.

On the front indicators, the index of consumer prices declined 0.2% compared to May, seasonally adjusted data, while analysts expected a 0.1% decline, according to their median forecast . The activity of the manufacturing industry shrank in the New York area in June for the second consecutive month, according to the Empire State index released Friday by the central bank (Fed) remained negative at -3.8. Analysts predicted that this index, which had fallen sharply in the previous month to -7.8, ironed above zero, the boundary between growth and contraction.Industrial production is, it, in line with expectations, up 0.2% in June

Google the center of attention

The side of values, Google announced after the close having recorded an increase in earnings of about 36% in the second quarter of 2011, despite investments still rising in the world's leading Internet search. The title wins more than 11% to 591.05 dollars.

Citigroup (2.49% to $ 40) Friday reported a 22% increase in net profit in the second quarter to $ 3.3 billion (2.33 billion euros) against 2.7 billion a year earlier. The third U.S. bank by assets shows a profit of $ 1.09 per share against $ 0.90 a year earlier, while economists were expecting $ 0.96.

The day before, JPMorgan said it had done for the second quarter net income of $ 5.4 billion against 4.8 billion last year. Net banking income rose by 7% over the quarter and 6% in the first quarter to 27.4 billion. The title gives 0.42% to 40.20 dollars

Always on the side of values, Hyatt Hotels (0.13% to 39.32 dollars) has announced the acquisition of a series of 24 hotels and assets attached for about $ 802 million from LodgeWorks and a group of capital investors. The transaction should generate an increase in operating income for the group of about $ 50 million from 2012.

The Board of Directors of Ralcorp Holdings (-1.96% to 84.92 dollars) has unanimously approved the principle of a split between Post and Ralcorp Foods.In addition, the company said to expect an adjusted earnings per share from 1.13 to $ 1.18 in the third quarter.

Also note, the Advisory Committee of U.S. health authorities (FDA) for oncology pharmacy issued a recommendation unanimously in favor of an accelerated approval process for Adcetris, a drug from the laboratory to Seattle Genetics treat Hodgkin's lymphoma. The title gives up 11.21% to 18.05 dollars.

Tags: , , , ,
Posted in Uncategorized, finance, international, publications, special | Comments Off

The euro zone no longer excludes a "partial failure" of Greece

Wednesday, July 13th, 2011

While markets plunged Monday on fears of contagion from the debt crisis in Europe, central bankers in the euro area have tried to reassure. "This is to resist the risk of contagion" in Italy, which seems to be the new target markets, or to Spain, and "maintain financial stability in the euro area," said the head of the Eurogroup Jean-Claude Junker. Europe and the tent she set up a second country assistance plan, and in this context, the working group to find a solution to save the country from bankruptcy does no longer a " partial default "of Greece.

Late Monday night, the finance ministers of the euro area, following a meeting that lasted nine hours, have launched a series of runs measures: they were willing to increase the size of the Financial Assistance Fund , now has a lending capacity of 440 billion euros.They are also considering a "lengthening of maturities of loans" made to give more time to countries in difficulty to repay their debt and reduce interest rate loans to Greece. Other measures are also being considered to "improve the sustainability of government debt." But no specific plans to support the country, however, has been announced. What angered the Prime Minister George Papandreou who believes that "there is no room for indecision and errors", and regrets that European leaders are indulging in "cacophony". And even more disoriented European stock markets.

For its part, the executive director of the International Monetary Fund, Christine Lagarde, said she, that the effort of Greece to reduce its budget deficit is still "not enough". The patron of the institution has also sought to reassure over Italy cash advances pay day loan.While the surge in borrowing rates to 10 years in Italy has shown concern on the situation of the country, Christine Lagarde said that "some of the Italian figures are excellent." She added that "it is clear that Italy is currently facing problems which are essentially driven by the markets." Former Economy Minister further stated that the rating agencies' role "without elaborate. These are singled out: besides the Brussels wants to silence forbade them to assess a country subject to an assistance plan.

The international community "can not save Spain"

But nothing works. Markets are not satisfied and the stock markets tumbling again Tuesday morning. Bank stocks have been particularly affected. In Madrid, the Ibex index lost more than 2%.The Spanish Minister of Economic Affairs, Elena Salgado, said Tuesday he was "not logical" that Spain and Italy are "affected by market volatility," because their economies are "strong and diversified. " "If we are able to transmit the determination that we all, markets should reasonably calm down," she said.

But markets, they do not see things this way: "While the international community can save Greece, Ireland and Portugal, it will not save Spain, too important contributor to the euro area" , said Monday Laurent Geronimi, director of rate management at Swiss Life Private Banking.

ALSO READ:

"Italy is the new target markets

"The rating agencies accused of aggravating the crisis

"The debt crisis spreads in the euro area

Tags: , , , ,
Posted in Uncategorized, economic, life, money, world | Comments Off

Cyber ​​attacks: an exorbitant cost

Saturday, July 2nd, 2011

The numbers are staggering. In Germany, the financial damage caused by cyber crime amounted to 61.5 million euros in 2010, according to figures released Thursday by the criminal police and the Federation of high tech Bitkom. This is equivalent to an increase of 66% over the previous year. As the United States, the FBI estimated the cost of crime to some digital $ 560 million in 2009. A world-wide, according to McAfee, cyber crime would have generated some 1000 billion in 2008, about 1.64% of world GDP for that year. Remains that, without minimizing the scale of the scourge, these figures are perplexing.

Many experts give little credence to these studies because most of them emanate from computer security specialists. For the record, other than McAfee is the world number two antivirus software.In addition, "less than 10% of companies report having experienced cyber attacks," said Jean-Paul Pinte, senior lecturer in strategic intelligence at the Catholic University of Lille. According to the specialist risk management and cyber terrorists of enterprises affected societies fear the bad publicity due to media coverage of cyber attacks.

Jean-Paul Pinte, "we know nothing of the legacy and financial losses suffered indirectly." He added: "If an attack is to relieve a company of sensitive information, loss of data will generate multiple costs, such as loss of competitiveness, or the upgrading of security."

"Hard to get a comprehensive view"

Director of the National Security Information Systems (Anssi), Patrick Pailloux abounds in this direction."When a site is the victim of an attack, he takes as an example, it is first blocked, causing a shortfall. Then we must add additional costs to set up a hotline strengthened. "And on the practices of industrial espionage initiated via the Internet," How can we measure in terms of losses that a competitor could steal ?, "asks the director of Anssi. Clearly, "it is difficult to get a comprehensive view of the problem," says he.

Despite these criticisms, these figures are held up to each event on Cybercrime. However dated, the estimated one trillion dollars of McAfee is authoritative. Last May, it appeared even in the "reminder" of the fourth Parliamentary Forum on Information Society in Geneva, on the initiative, among others, the United Nations.Trompe-l'oeil, the text quoted a source stamped Europol, the pharmacy police intergovernmental European Union, which actually refers to the numbers … the software publisher.

If governments do not hesitate to chopping these impressive figures, it is often necessary to legitimize, but costly reinforcement of their agencies against digital piracy. Or clear, make the pill easier to swallow from taxpayers. In January, the UK has estimated that cyber attacks cost him a whopping 27 billion pounds per year (32.2 billion euros) in a government study.An amount (by far) greater than the harm claimed by the United States … A few days before making public figure, London has announced the release of 650 million pounds over four years to "strengthen its cyber security " freecreditscore…

International cooperation in the war-horse

Without waving the national figures, France is no exception, as evidenced by the announcement of piracy Bercy in March. Patrick Pailloux it was for the state to "lead by example" to encourage companies to report piracy they wipe. The Director of Anssi said that 150 computers were then infiltrated by hackers to steal documents for the French presidency of the G20. "We were able to counter the threat," he goes on, noting that thirty experts have been mobilized for two months to "clean up" more than 130,000 positions in the Department.A communication that is timely, since Anssi plans to double its workforce (360 employees) by 2013.

Such methods may be distasteful, but experts and politicians agree: there is no time to waste on the face of digital crime. "For a long time in France, we thought that hacking and computer intrusions were not really dangerous, says Jean-Paul Pinte. But now we know that it's become a real business, and that the threat can come from anywhere: a simple USB key, hard drives or even photocopiers, which, connected to the Internet can become the target of hackers ".

Therefore, international cooperation, which requires significant resources, is "a priority," insists Patrick Pailloux. And for good reason: "90% of attacks are international," says the director of Anssi.In the columns of The Tribune, Laurent Wauquiez, Minister for European Affairs, recently recalled that a hacker "can be installed in Latvia, while in France to intervene through a Canadian site." He even considers urgent that Europe adopts "a kind of cyber-FBI-backed Europol" to stem the digital crime. And one last statistic to shoot, ensuring that "a user of thirty lost money in Europe over the last year" due to a hacker.

Businesses, prey selection

Having surveyed 45 U.S. companies in 2010, the Ponemon Institute found that on average, the financial damage caused by hackers and data theft was $ 3.8 million.Like that of McAfee, this figure is to be taken lightly, as though Ponemon shows his independence, his study was commissioned by ArcSight, a specialist in digital security. However, it appears that large groups are increasingly being targeted by hackers. Since the beginning of the year, the list of companies or institutions that have suffered cyberattacks has continued to grow. Sony has suffered more than ten attacks since mid-April, leading to theft of confidential data of more than 1 million customer accounts. Recently, Sega has had the same misfortune: the editor of the series of Sonic hedgehog found in mid-June have been stolen names, email addresses, birth dates and passwords of almost 1.3 million customers on its servers.Google or Citigroup also suffered cyber attacks.

ALSO READ:

"The New Face of Cybercrime

"Europe declares war on cybercrime

"When Internet users are fighting against cybercrime

"A French arrested for hacking Twitter

"Exchange: cyber attacks concern to governments

Tags: , , , ,
Posted in opinions, people, special, top news, world | Comments Off

IMF: Lagarde wants to continue the reforms initiated by DSK

Friday, June 24th, 2011

The oral examination lasted three hours. Christine Lagarde, the French candidate for the leadership of the International Monetary Fund (IMF) met during this period with members of the board of the organization. When he left the organization's headquarters in Washington, she said, in a brief statement to the press, its wish to be selected to continue the reforms initiated by Dominique Strauss-Kahn.

"I think we should make the Fund more responsive, more efficient and certainly more legitimate. And that really requires a lot of potential improvements, but also the continuation of reforms that were undertaken by my predecessor, "she said in English. "I believe that the Fund is a remarkable institution with an exceptional staff, and must always strive to be more responsive, more engaged, more legitimate with all of its 187 members.In any case, it would be my ambition, "she said, in French this time. "It's now up to member states to decide."

The French Minister of Economy is opposed to a Mexican candidate, the governor of the central bank Agustin Carstens, to succeed the French Dominique Strauss-Kahn, who resigned May 18 It provides, inter alia, support non-official Washington. The U.S. treasury secretary, Timothy Geithner, "believes that the experience and solid leadership skills of the Minister Lagarde make her an exceptionally gifted candidate for the general direction of the IMF."

The next step is a formal meeting of the board Tuesday to consider the two applications. The Board of Directors of the IMF must choose between her and Agustin Carstens by June 30.

ALSO READ:

»COMPUTER GRAPHICS – The CV of Christine Lagarde meet IMF demands

Tags: , , , ,
Posted in economics, finance, money, resources, technology | Comments Off

IMF: India does not undertake on behalf of Christine Lagarde

Tuesday, June 7th, 2011

From our correspondent in India.

The French Minister of Economy, Finance and Industry met Pranab Mukherjee, his counterpart of Finance in India, and on Tuesday she will meet with Prime Minister Manmohan Singh. It should also see Montek Singh Ahluwalia, Deputy Chairman of the Commission Plan. It is no coincidence. There are a few more days, Ahluwalia had been presented as a potential candidate from India. And why not, BRICS, the bloc of emerging economies that account Brazil, Russia, India, China and South Africa. Then the rumors were silenced. Officially, Montek Singh Ahluwalia would have exceeded the age limit for a candidate.In fact, Delhi has decided not to enter the race.

"The selection of the Chief of the IMF or the World Bank should be on the basis of merit, competence and transparently," Pranab Mukherjee launched after receiving Christine Lagarde. "Since the World Bank president has always been an American and a European director of the IMF, it would be logical to try to persuade the fund to elect now a candidate from a developing country, whose influence on the global economy is growing, "protested Anant Goenka, an economics professor. Continuing: "Why this silence (from India) while China, Brazil and South Africa are on the frontlines demand a change?"

Paradoxically, New Delhi does not seem interested in carrying the "Battle of the IMF."Defeatist, India? "You can say so, but the silence of Delhi shows that Indians are particularly realistic in this matter," says BL Pandit, director of the Delhi School of Economics. It is not a democratic election, the contribution of India to the IMF's reserves is not very high, and finally, everyone here thinks that games are made and, again, the position go to a European cash advance loan no fax. " He acknowledged however that "things are changing rapidly" and that growth is changing latitudes, "it might be that the leaders of the Western world are considering share positions in international forums."

The Mexican candidate is expected Friday in India

At the last summit of BRICS in China last April, India had not been left to demand a reform of the Bretton Woods for emerging countries.In late May, when Dominique Strauss-Kahn had resigned, Manmohan Singh, who was visiting Addis Ababa, had stormed: "Reform of the Bretton-Woods is a priority for developing countries." He has since changed his tune. On the occasion of the visit of German Chancellor Angela Merkel in late May, the leader of the Indian government said: "A prestigious position must go to the best candidate, regardless of nationality."

Friday, it was the turn of the Mexican candidate, Augustin Carstens, to come "courting" the Indians. The Governor of the Central Bank of Mexico would have already secured the support of Brazil. As for Christine Lagarde, she will travel to China. Beijing would be willing to support the French if they receive in return, the post of Deputy Director of the Fund at the end of the year.BRICS speak anyway no one voice since, the last G8 summit, Russia has already row behind Christine Lagarde.

ALSO READ:

"The chances of the IMF are confirmed Lagarde

"IMF Attractiveness: Lagarde

"The emerging campaign for one of their own to head the IMF

"GRAPHICS-The possible candidates to head the IMF

Tags: , , , ,
Posted in economics, events, news, publications, special | Comments Off

Sanofi starts against Crohn's disease

Monday, May 16th, 2011

While the French laboratory had to pay $ 20.1 billion two months ago to put (last) hands on the giant American biotechnology Genzyme, renewal of product portfolio does not seem finished.

Certainly, this large acquisition Sanofi offered the double advantage to gain strength in biotechnology, a field in which he accused some delay, and the muscles of the profile of its development pipeline. But it does not completely solve the problem of loss of its main patent medicines, a loss that threatens almost 30% of sales of Sanofi between 2008 and 2013.

Hence the willingness of management to continue to develop other partnerships in research and development, like the one unveiled this morning by the French laboratory.In a statement, Sanofi announcement that he will spend 50 million dollars to obtain from the French subsidiary of Glenmark India, exclusive marketing rights in North America, Europe, Japan, Mexico, Argentina, Chile and Uruguay from GBR 500. This monoclonal antibody, currently in phase I clinical trial is developed for the treatment of chronic autoimmune disorders. The license acquired by Sanofi on the product concerned in particular the treatment of Crohn's disease (chronic inflammatory gastrointestinal) and other chronic autoimmune diseases.

If it came on the market, the product would otherwise be co-marketed by both groups in Brazil, Russia, Australia and New Zealand. This horizon remains distant, the GBR 500 being still in early stages of development (determination of the optimal dose and safety profile).Then remains to determine the safety profile and effectiveness, on a limited number of patients and more extended. Tests that require several more years.

Second agreement between Sanofi and Glenmark

Under the agreement, Glenmark will receive an initial payment of $ 25 million at the close of the transaction, then a second payment of $ 25 million contingent on the positive assessment by Sanofi, some data provided by Glenmark. The latter will also receive milestone payments based on the development, registration and marketing of the product. Finally, Glenmark will receive double digit royalties on net sales of marketed products.

This is not the first time the two groups work hand in hand.A year ago, Glenmark and Sanofi had in fact already announced a similar agreement (upfront payment, milestones and royalties) of up to $ 325 million for the development and commercialization of new molecules, including GRC 15300. This molecule is in Phase I clinical trials in the treatment of diabetic neuropathic pain and osteoarthritic pain.

With this new license agreement, Sanofi like to continue on a policy to acquire new products, while sharing the risks inherent in medical research. If successful, it would allow Sanofi to expand in Crohn's disease, a condition in which the need for therapeutic innovation is important. Indeed, current treatments do not allow patients to cure the disease but simply to control and limit the debilitating symptoms associated with it.In France, this disease affects about 1 in 1000, approximately 60,000 patients potentially affected. The young biotech company Neovacs also working on this disease, and is currently conducting a clinical phase I / II drug candidate TNF Kinoid. Biotech has introduced about a year ago on Alternext to find the funds needed to develop its product.

At the Paris Bourse, the announcement of Sanofi has been rather well received, clinching the title 0.41%, to nearly 54 euros in a bear market. Since the beginning of the action of the pharmaceutical company rose 12.85%.

ALSO READ:

"Sanofi-aventis enters into an agreement in India

"Sanofi-Aventis has found the remedy to afford Genzyme

A new drug approved Sanofi

Tags: , , , ,
Posted in events, features, life, special, technology | Comments Off

Bin Laden, a fortune dedicated to terrorism

Monday, May 2nd, 2011

Difficult to assess the fortunes of Osama bin Laden, as the opacity of its funding sources has always prevailed. Before the attacks of September 11, 2001, the financial empire's founder and leader of al-Qaida announced until his death last night, was estimated between 30 and … $ 300 million. Only certainty, the first pillar of the wealth of terrorism based on the legacy of his father.

Mohammed bin Laden, Osama's father, made his fortune in construction and public works. At the latter's death in 1967, the leader of al-Qaeda share the inheritance with her 54 brothers and sisters. In all, Osama Bin Laden "received between 12 and 15 million dollars" between 1974 and 1994, according to Yeslam bin Laden, one of his half-brothers.

Present in 35 countries

Some of the funding received has been reinvested in other companies in Saudi Arabia or Sudan, thereby making a profit.Osama bin Laden had created a parent company, Wadi al Aqiz, head of a network of numerous legal societies and implanted in nearly thirty-five countries.

The Ladin International Company, an import and export, Taba Investment and Hijra Construction Company, specializing in construction are among the largest subsidiaries of the businessman terrorist. But these companies also served as cover for militants of al-Qaida. They fund training camps or buying weapons and receive "gifts" from Islamic banks branched through accounts and offshore tax havens.

From multinationals to SMEs

With the end of the first Gulf War in 1991, and the installation of U.S. bases on Saudi soil, Bin Laden decided to conduct a holy war against the United States. Replica of Washington and its alies: its funds are now tracked.Bin Laden fled to Sudan from 1994 to 1996. He bought land, invested in small business. Like the international financial network created in the 1980s, these companies often have two facets. Peanut farm houses a terrorist training site.

Managed well, business does not rotate at best. Bin Laden is forced to lower wages and to sell certain subsidiaries. No matter: "Terrorism is a low cost business," writes the Wall Street Journal in September 2001. If the September 11 attack has cost 400,000 to 500,000 dollars, the 1993 bombing against the World Trade Center would need $ 10,000.

Afghan exile

Expelled from Sudan in 1996 under pressure from the Americans, bin Laden returned to Afghanistan. The Sudanese government expropriated the terrorist during flight, according to the report of the American Committee of Inquiry on September 11.This second exile seems to coincide with increased financial difficulties on the ground. The branch of al-Qaida in London would have experienced problems paying their phone bills. For many decades, "Bin Laden has engaged in activities that eat money, but do not create," says the Saudi dissident Muhammad al-Massari, quoted by the Wall Street Journal.

Still, bin Laden also benefits from the charity to Muslims around the world, but that they know so far that their donations would be used to finance terrorism. According to a diplomatic report from 2009 revealed by Wikileaks, the Americans suspect of private foundations in Saudi Arabia, Kuwait and Qatar to finance terrorism without limit. The villa in which Bin Laden has spent his last days, near Islamabad, is estimated at nearly one million dollars.

Tags: , , , ,
Posted in events, finance, life, money, online | Comments Off

The majors of the black gold reconnect with the super-

Friday, April 29th, 2011

It's a good week ending for large oil companies. Alternately, the ExxonMobil, Shell and BP have announced excellent quarterly results, driven by inflation of a barrel. Friday, Total and Chevron have completed this list of "super-" the French group has a net profit of 3.9 billion euros. Enough to power once more controversy when fuel prices are stealing record after record. Currently, a liter of super unleaded costs an average of 95 € 1.53 in France. And Christophe de Margerie, Total's chief executive, has incurred the wrath of the Elysee Palace after stating that the milestone of 2 euros was in the order of things.

Click on image to enlarge.

Tags: , , , ,
Posted in Uncategorized, international, online, opinions, people | Comments Off

Air France would be renewed Gourgeon

Monday, April 18th, 2011

These last two years have not been easy for the CEO of Air France-KLM. This old company, which has assisted Jean-Cyril Spinetta at Air France for fifteen years, was confronted with poor financial performance, and the disaster of flight from Rio to Paris, which has tainted the image of Air France . But according to Liberation on Monday, the appointment of Pierre-Henri Gourgeon, head of the company since 1 January 2009, will probably renewed in July. His name would be formally raised in May. Then, shareholders will be asked to vote at the general meeting on the proposed extension or a renewal for two years only, half a term.

In this case, two deputies: one for Air France and KLM to another, according to one close to Nicolas Sarkozy, says Liberation. Thus, a successor would emerge that could take the reins of the company thereafter.This, in mid-2013, when Jean-Cyril Spinetta, the chairman of Air France-KLM, will reach the age of 70, who is a limit to the exercise of such functions.

Favorite of the government, supported by the company

It should be noted that the position of president of the airline is coveted. Several names have often been quoted by the press as potential successors to Pierre-Henri Gourgeon. There was the former Secretary of State for Foreign Trade, Anne-Marie Idrac, the former boss of Accor Gilles Pelisson, chief of staff Christine Lagarde Juniac Alexander, and Anne Lauvergeon, who was head of Areva.

Pierre-Henri Gourgeon has the support of the employee shareholders of Air France-KLM, and especially that of Jean-Cyril Spinetta. But the chairman of the board of directors of Air France-KLM is very influential to its directors, but also to the Elysee.Also chairman of the supervisory board of Areva, Anne Lauvergeon he would have supported its retention at the head of Areva, but not for Air France, told Liberation source familiar with the matter.

The Elysee Palace would consider the idea of ​​appointing someone new in the field of air transport would be dangerous for the company, says the daily. The candidacy of the current CEO should satisfy the state shareholder. The president Nicolas Sarkozy has indicated that one of the main qualities of Jean-Cyril Spinetta had been "choosing Pierre-Henri Gourgeon to replace him," according to La Tribune.

In this case, the role of the state has often been emphasized, because even if it only holds 15% stake in Air France-KLM, he remains the majority shareholder.In case of renewal effective, Pierre-Henri Gourgeon would include the mission, according to one executive of Air France-KLM parLibération city, "to conduct necessary reforms and unpopular," before retiring.

Tags: , , , ,
Posted in business, economics, news, opinions, special | Comments Off

« Older Entries
Newer Entries »