Archive for the ‘finance’ Category

Ministers' salaries will be reduced by 30%

Posted in events, features, finance, money, online by admin on May 18th, 2012 | Comments Off

 

"If I am elected, I do not gèlerai, but I stoop down the salary of the president and ministers of 30%." By November 2011, Francois Hollande had made the campaign promise very symbolic, while Nicolas Sarkozy marked the spirits in increase of 172% net salary (of 7,084 to 19,331 euros) on arrival at the Elysee. Invited on France 2 on Wednesday night, the new prime minister, Jean-Marc Ayrault, announced that this commitment would be the first of his government. Hardly installed at Matignon, he will propose a 30% drop in the wages of members of government from the first cabinet meeting on Thursday afternoon. "This is exemplary," said he explained. This measure will be a decree, he said.

The gross monthly salary of Ministers will be up to 14,200 euros per month, to 9,940 euros. That of the Prime Minister will also be trimmed from 21,200 euros to 14,840 euros gross. Like, finally, the compensation of the President of the Republic. With a plane that has a surprising consequence. Ex-Ministers continue to earn more than their successors for another six months. Indeed, each team member Francois Fillon retain his salary during this period. A privilege granted to all former ministers, who lose their theory, however, other benefits.

Largest decline in Europe

If they come later than in other European countries, this decline in compensation of government is by far the strongest. One of the first to take this measure, as he tried to impose on his country a vast austerity plan, was the Irish Prime Minister Brian Cowen. From 2009, he had reduced his salary and that of his ministers by 15%. In the process, in May 2010, Spain followed the movement by announcing a 15% reduction of salaries of its ministers. In the UK, the British prime minister, David Cameron, newly installed in power, his ministers imposed a 5% decrease in their pay. A dry diet made subsequently by Italy and Portugal, among others.

In Europe a constraint to fiscal Germany still appears a prosperous island. While the German economy grew by 2% annual rate in the first quarter, Angela Merkel and her ministers were granted for the first time in twelve years an increase of wages. The Cabinet decided on Wednesday to a 5.7% increase in three stages by August 2013, bringing the salary of Angela Merkel to about 17,016 euros gross per month and those of his ministers to about 13,795 euros.  

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Otis accelerates in emerging

Posted in Uncategorized, economics, finance, people, technology by admin on May 14th, 2012 | Comments Off

 

Otis to participate in its World Cup football 2014 in Brazil. The U.S. company will install in Rio escalators and elevators of the legendary Maracana stadium, refurbished for the occasion. Recently it has also equipped the Burj Dubai Khalifa, the world's highest. And he was chosen to implement its latest generation of products to the Empire State Building in New York.

This series of prestigious contracts is part of a long history for the brand created in the 1850s by Elisha Graves Otis, inventor of the elevator. Since then the company has been incorporated into United Technologies, which has other subsidiaries such as air conditioning specialists Carrier or aircraft engine manufacturer Pratt & Whitney.

Otis remains the king of lifts, with 80% of appliances brand in major tours around the globe. What outdo his most serious challenger, the European Schindler, ThyssenKrupp and Kone. "We are the world leader with a market share of around 25%," says Peter Dejoux, president of Northern Europe and Africa at Otis.

Last year, the group continued to race ahead: its revenues ($ 12.4 billion, or 9.6 billion euros) was up 7%, while its profit before tax (2 , $ 8 billion, or 2.2 billion euros) rose by 9%.

400,000 new lifts in China every year

Yet the recent history of Otis is anything but smooth sailing. First, the group has changed its mind. Exit the French Didier Michaud-Daniel, income in the Hexagon head Veritas, the certification specialist. Since mid-February, it was the Spaniard Pedro Baranda is at the helm. In the aftermath, Peter Dejoux took over some of the functions of Bruno Grob, one of the great figures of the company, died suddenly in November 2011. A new management team, while the global landscape of elevators undergoing a profound transformation. "Growth is high (5 to 10%) in emerging countries like China, India and Brazil as the market is spread in France, posting a decline in Southern Europe", illustrates Dejoux Pierre. China, for example, has become the world's largest market for new lifts, with 400,000 units installed each year.

To meet demand, Otis adapt its industrial sites and multiplies in the new El Dorado. The group built an elevator factory in Chongqing, the metropolis of western China, its fourth in the Middle Kingdom. In India, it will triple the capacity of its plant in Bangalore. "We are implementing there partly because these countries are sensitive to what we produced on site, said Peter Dejoux. But, from our factories in China, we serve as the countries of Southeast Asia. "

Moreover, these markets booming, the group has bucked his offer. With Otis brand, it offers high-end products like the Gen2 elevator to consume 60% less energy. But he also established joint ventures with local companies to distribute products from entry level. In India, in Gujarat, it sells brand elevators Trio. Thailand, Indonesia and South Africa, it distributes the references of another elevator manufacturer, Sigma.

In mature markets, the focus is more on maintenance, which often represents nearly 70% of sales. Otis has launched a dozen countries in a service called Elite that can repair elevators and remote … to increase the annual subscription of 200 to 250 euros. Contracts of this type have been subscribed for 80,000 units, a total of 1.8 million elevators maintained by the group in the world.

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Traffic Corsica continent crippled by the strike of seamen

Posted in economics, finance, opinions, top news, world by admin on May 6th, 2012 | Comments Off

 

The tone hardens in the conflict between marine companies between Corsica and the mainland. The strike called by the CGT Wednesday to demand the application of the same social laws to all shipping companies, including foreign competition, making these runs was renewed this Saturday. A decision that provoked the "anger" of the direction of SNCM (Société Nationale Corse Méditerranée), 66% subsidiary of Veolia Transdev. The South (ex-CMN) is also affected by the strike. The movement "is followed at 28% to SNCM, a little more to the CMN, but enough to prevent smuggling," said the leadership of SNCM.

The nine SNCM ships and the South (ex-CMN) assigned to services between Marseille, Nice and Corsica are therefore remained docked for the fourth consecutive day, some 10,000 passengers were affected since the conflict began. Many of them have changed their return by traveling on ships of the private company Corsica Ferries, Italian flag, which normally circulate. SNCM has expressed "outrage" because "this movement supposed to fight our competitors rather strengthen, beyond their expectations." Moreover, the director of the company for Corsica, Pierre-André Giovannini, expressed his "regret for the inconvenience to our customers, passengers and cargo carriers, and this new blow to the island economy." He said over the weekend of May 8 Bridge is "one of the most important pre-season tourist" for Corsica.

A bill filed by the PCF

The strikers will meet again Sunday morning to decide on the following movement. "So is the future of thousands of jobs in our profession," says the union in a statement. The strike comes as the ferries market suffered the turmoil of the crisis in recent years. Thus, since its passage in the private sector in 2006, SNCM has almost always been in the red. She was accused of operating losses of 15 million euros last year. Especially, the CGT sailors had already scored a major coup a year ago by stopping work for 47 days, never seen to SNCM. If it were to get bogged down, however this new strike is unlikely to change the trajectory of the group. The direction of the SNCM instead reiterated its "determination to rapidly modernize and evolve the company, in all areas." Last March, the chief executive, Marc Dufour, warned that SNCM would have to separate at least two car ferries and 800 employees in 1617.

In some election, this issue has naturally taken a political turn. Friday, a trade union delegation was received in Paris by representatives of different parties, including the national secretary of the PCF, Peter Lawrence. His party has tabled in the Senate on March 22 a bill to require all companies operating in France the first entry in register of ships, making them subject to French social laws. Sailors CGT also met the spokesman of the Socialist Party, Benoît Hamon, who is, according to the union, "clearly in favor of the adoption of this law," and a consultant Francois Hollande. In Marseille, finally, a delegation was received by the federation UMP.

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Air France-KLM is stuck

Posted in Uncategorized, economics, events, finance, international by admin on May 5th, 2012 | Comments Off

Presidential in major cities Paris | Leeds | Lyons | Toulouse | Leeds | Sheffield | Liverpool | Bordeaux | Lille

Wall Street rises, the oil also

Posted in Uncategorized, economy, features, finance, technology by admin on April 29th, 2012 | Comments Off

Presidential in major cities Paris | Leeds | Lyons | Toulouse | Leeds | Sheffield | Liverpool | Bordeaux | Lille

Gel: FNSEA requires flexibility on aid

Posted in business, finance, news, people, world by admin on April 26th, 2012 | Comments Off

 

The specter of drought away with the recent rains. But the winter freeze damage to crops are more than expected as and as spring advances. "That damage is exceptionally large, Xavier Beulin regrets, FNSEA President. In total 600,000 hectares of wheat, canola and barley were destroyed by the cold wave of February. "

In a letter to the Minister of Agriculture, FNSEA asks Bruno Le Maire to trigger the emergency procedure in Europe. It provides "the inclusion of force majeure" as "a serious natural disaster affecting a major agricultural area of ​​operation", so that farmers continue to receive their aid.

The green light from Brussels

Payment of these grants is linked to European compliance by the operator of a number of criteria, including stick to crop type notified in advance. This "rotation" is defined in the declaration CAP (Common Agricultural Policy) that meet the farmers every year in May for the crops they will do next season. These conditions are required to receive direct payments. Other aid, indirect, are related to the implementation of certain agri-environmental standards guaranteed unsecured personal loan. The leaders of the FNSEA have already given the green light from Brussels. They now expect the French transposition.

Activation of this procedure will allow farmers, especially those in the north-eastern France, the winter freeze victims, not to be penalized twice: not only by the lower yield of spring planting, but also by a reduction in aid European sanctioning non-compliance of the crop rotation in their declaration CAP. Finally, the recognition of this act of God must allow an advance on anticipated aid on October 16, instead of early December.

Private insurance side, the amount of compensation that will be paid, should amount to some 70 million euros. But all farmers are far from having signed a contract to hedge. Finally, a new wave of freezing took place last week but it has affected this time departments of the central region, penalizing the orchards and vineyards.

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Holland wants to mobilize savings

Posted in events, finance, life, money, news by admin on April 21st, 2012 | Comments Off

 

Francois Hollande said today he hoped the French savings could be more "mobilized" to fund a portion of the debt, provided that the loan terms are more favorable for the country.

"I have an idea that the savings of French, which is very high (17% of our revenues are spared), can be mobilized for industry, housing and also for debt" , he said, asked about this during the "Grand Journal" on Canal +. His speech was recorded earlier in the day, due to the evening meeting in Bordeaux. "So that, the more you borrow from the French, the less you borrow from the markets," he said.

Run government bonds

When asked, "will launch on government bonds to individuals?", He replied: "I think about it. It already exists. What was formerly called T-bills, large bonds. The more we borrow in our own markets with the savings of French, it is less dependent on investment funds credit report. "" You will do it more consistently? "He replied," More systematic, yes. "….. …

Asked about the fact whether he had decided, he said: "Yes, actually. Then you have to see the conditions. It has to be a rate that is not greater than the market. Not worth paying a debt even more expensive if purchased by the French. "

In June 2009, President Nicolas Sarkozy had wanted to launch a new loan with the French. There were abandoned because the cost of a public offering would have been much higher than going market. The initiative of Nicolas Sarkozy was the first such operation in France since the famous "borrowing Balladur" in 1993.

At the end of 2011, 65.4% of negotiable government debt (in the form of securities) were held by non-residents, and 34.6% of French residents, according to data from the Agency France Trésor, which manages the French debt.

Real Estate: the number of transactions fell

Posted in business, economics, finance, home, international by admin on April 11th, 2012 | Comments Off

 

It is not yet the big night for the property market but the trend reversal is confirmed. After the Chamber of Notaries of Paris-Ile de France is now the turn of the network of estate agents Century 21 noted a decline in house prices in Paris, as in the rest of France in 2011. Late last year, the former property prices had already declined in the Paris region but not yet in the capital.

But prices fell relatively little, yet after record highs in recent years. Thus, between the second half of 2011 and first quarter 2012, the average price per square meter of goods sold by Century 21 declined only 2.1% in 2578 euros/m2 average in France. The movement is even more tenuous in Paris, with a fall in prices of only 0.1%. A figure in line with the finding of the Chamber of Notaries of Paris-Ile de France which reported a decline in late March from 0.36% in house prices in Paris three months 8340 euros per meter square on average between November and January.

However, the number of home transactions performed by the network of estate agents Century 21 in France fell by 11.4% between the first quarters 2011 and 2012. This drop is even higher in Ile-de-France (-15.5%) and Paris (-17.4%). And for all of 2012, the president of Century 21 Laurent Vimont expects a decline over one year from 15% to 20% for the entire market of home transactions.

The expert, however, expected a price maintenance the same as in 2011. "You leave the frenzy and we return to reason. But the decline is not sustainable because demand is strong, "says this actor's real estate market.

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A car costs 1,414 euros more than last year

Posted in Uncategorized, economic, finance, home, opinions by admin on April 6th, 2012 | Comments Off

 

While the latest statistics show an automotive market at half mast and some European manufacturers are expressing their concerns, the cars bought in France have never reached such high prices. According to The Argus, which published his 2011 portrait of the average car in France, the average price reached 21,181 euros, against 19,767 eurosen 2010. An increase of 1,414 euros (+12%) in one year!

According to The Argus, this trend is explained by the end of the scrappage scheme. And the French did not hesitate to turn to larger cars. The average vehicle in 2011 in France measure 4.19 meters long, 1.76 wide and 1.54 high. It weighs 1266 pounds and consumes 5 liters of fuel per 100km to 126 grams per kilometer of CO2 released.

The luxury SUVs are popular

The Argus notes and a sharp decline in so-called urban cars (-26%). The family (10%), major roads (37%) and minivans (18%) have however taken advantage of this change in consumption pattern. The SUV (Sport Utility Vehicle), including luxury, are also popular. And the price of the latter increased by an average of € 3660! Overall, the share of cars with less than 15,000 euros in sales in 2011 is 19%, from 15,000 to 25,000 euros, 45%, and more than 25,000 euros, 36%. In 2008 these shares were 24%, 46% and 29%.

The study of the Argus corroborates previously published figures by the Committee of French Automobile Manufacturers (CCFA) and published by Challenges. They reported a price increase of 15% compared to 2010. The average price of new vehicles, all brands, has reached 22,800 euros according to the CCFA. A rise in prices seen in all countries where a grant has been established to support the sector.

But if they are willing to spend more to buy a car, the French did not mean abandoning another means of transport, more environmentally friendly. He would have sold more than 3 million bikes in 2011. A figure up 5.5% over the previous year.

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How to find the equivalent "Made in France" a foreign product

Posted in economy, events, finance, special, world by admin on April 3rd, 2012 | Comments Off

 

It is defined as a 'detective' Made in France '. " Sylvain Lescot, 33 years and commercial training, launched in December the site-Référence.fr France, with the ambition to "establish the habit of buying citizen." Specifically, this merchant, whose product catalog spans four themes (home, toys and entertainment, multimedia and gastronomy), offers users to compare one product with its foreign equivalent, manufactured in France. Thus, facing the mixer "Soup Maker" Cuisinart product in the U.S. and priced at 199.50 euros, it suggests to the consumer to buy the "Soup & Co" Moulinex to 229.90 euros. Salt and pepper to the duo Automatic One Touch range (29.90 euros), made in China, he opposes the salt mill Peugeot "Bistro natural" (16.50 euros).  

The concept is in tune with the times: 42.3% of French people think that promoting products "Made in France" should be a priority in the presidential campaign, according to a study site Testntrust. Or, buy French is often an obstacle course. Mentions on the origin of components and place of manufacture on the labels abound, sometimes inducing the consumer. "The offer on the shelves is a jungle," said Sylvain Lescot, that "the French do not know in general that there are local equivalents to foreign products the best known." With the exception of certain areas, such as multimedia or television, in which there is almost no offer purely French. To select products, France-Référence.fr is based on criteria adopted by the association Pro France, which manages the label "Origin France Guarantee ', the main requirement being that at least 50% of the value added product is produced in the Hexagon free business cards.

90% of products are purchased French

While websites offering a selection of products "Made in France" multiply, France-Référence.fr claims its status online retailers. "The consumer is free to choose the foreign product, we also have in stock," says Sylvain Lescot. "We respect the individual tastes and budgets." If the French massively plébiscitent local products, the price point is important in these times of crisis. Only 49% of them are willing to pay more, the last notes of the brand Observatory France. A concern that shade Sylvain Lescot. "While some French products can be twice as expensive than their foreign counterparts, others have a price lower than 20%."

Still, with this system of comparison, the offer tricolor appears to be doing on the game-Référence.fr France, 90% of the products purchased are French, welcomes its founder. "The 'Made in France' is not a utopia, but a way of future consumption," wants to believe. Therefore, after investing nearly 60,000 euros in building his company, the latter provides a second phase investment of 100,000 euros in the next three months to boost its offer of 300 references to over 1000. France-Référence.fr be able to respond to a request which, according to forecasts by Sylvain Lescot, should quickly jump from 5 to 50 orders per day.

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