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French justice had the heaviest hand for the former boss of Vivendi, Jean-Marie Messier, his American counterpart, which had acquitted a year ago. After eight years of investigation and trial on one of the most sensational bankruptcies in recent years in France, the court ruled on Friday, the fate of Jean-Marie Messier, spent two years at the helm of the General Waters, he transformed into a giant media and led to the near-bankruptcy in 2002.

This icon of French capitalism in the early 2000s has indeed been sentenced this afternoon to a term of three years suspended sentence for "spreading false or misleading information" about the financial health of the group, and "abuse of social good. " It also scoop a fine of 150,000 euros, and shall indemnify dozens of small shareholders of Vivendi cheated by the rout of the telecommunications group.It was however acquitted of the third charge, "price manipulation" of Vivendi. He has already indicated through his lawyer that he will challenge this decision on appeal.

Behavior "prestidigiteur debt"

"Jean-Marie Messier has adopted towards the market behavior of real 'magician debt' behavior that could at most be detected by analysts and financial professionals (…) but certainly not by individual shareholders, which this communication was also addressed and which could only be deceived by its abbreviated and misleading, "reads the ruling.

Justice did not spare the closest collaborators of Jean-Marie Messier. Edgar Bronfman Jr., chief executive of Warner, was sentenced to fifteen months suspended sentence and five million euro fine for insider trading.His former right hand man and chief financial officer of Vivendi Universal, Guillaume Hannezo, was handed his side a penalty of 15 months suspended sentence and a fine of 850,000 euros free online credit report. Eric Licoys finally, former deputy director general of the group, was sentenced to six months suspended sentence.

Messier admits mistakes but no offense

Jean-Marie Messier has already indicated through his lawyer that he will challenge this decision on appeal. He admits indeed have made mistakes but no offense. The former boss, 54, and grants, the Wall Street Journal: "I was young, I've said too much and I became a symbol." Whatever the Horns of Canal + J6M nicknamed (for Jean Marie Messier, Myself Master of the World) even regretted his "arrogance" at the time. But beyond its mismanagement, Jean-Marie Messier also challenges a softer environment.He recalled that the bursting of the dotcom bubble and September 11 were particularly devastating for the values of the new economy traded.

He especially insists he did not deliberately sought to mislead analysts and shareholders. "Some of my decisions in the management proved wrong, but a fraud? Never, Never, never! "He says. And he points out the flaws in the file. The indictment for abuse of social good based on a negotiated golden parachute … but never touched. As for price manipulation, it acknowledges the massive purchase of Vivendi shares after the attacks of Sept. 11, but in order to protect the business speculators.His defense has also appeared for a time be satisfied that the prosecution had asked for his release, believing that he did not deliberately sought to mislead analysts and shareholders.

The association of small shareholders assets (APPAC), a civil trial, was on his side on Friday welcomed the "great victory for French justice, up to the expectations of shareholders."

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In the wake of Wall Street, the Paris Bourse was up on Wednesday. Halfway through, the CAC 40 rose 1.27% to 3911.09 points.

On Tuesday, the CAC 40 moved closer to the 3900 clearly points to 3861.92 points (1.58%), supported by bank stocks.

Portugal has successfully placed 1.249 billion euros of debt, getting lower rates on long bonds. Demand was also strong on Wednesday, 3.2 times greater than supply for bonds maturing in June 2020, and 2.6 times higher for those maturing in October 2014.

The bond issue was highly anticipated because of growing fears about the solvency of Portugal, considered by many economists as the next country in the euro area may have to resort to international assistance.

Public deficit down slightly

In France, two indicators were on the agenda: the current account deficit rose to 4.2 billion euros in November. In addition, the budget deficit declined slightly to 140.7 billion euros at end-November (cons 141 400 000 000 a year earlier). The government expects to end 2010 on a budget deficit of 149.7 billion euros, a record.

Industrial production in the euro zone rose 1.2% in November over a month, said Wednesday the statistical office of the European Union, Eurostat.This monthly increase, resulting in an increase of 7.4% over one year is higher than expected.

In the U.S., investors will follow the import prices in December (1430), the weekly inventory of crude oil (16.30), the figures of budget execution in December (20 hours) and the meeting of Policy Committee the Fed (20 hours).

Bank stocks well surrounded

On the currency markets, the euro fell to below $ 1.30 Wednesday, erasing gains made during Asian trade and early European session, after a bond Portuguese. By late morning, the euro bought 1.2970 dollars against 1.2974 dollars on the previous evening.

On the corporate side, the reaction of bank stocks to launch bond issue of Portugal was expected.Societe Generale climbed 4.27% to 42.14 euros (largest increase in the CAC 40), BNP Paribas rose 3.33% to 49.53 euros and Credit Agricole takes 2.95% to 9.90 euros.

RBS Sempra Commodities will sell assets at Societe Generale, which settle in cash, RBS said on Tuesday. The British bank did not disclose the amount of the transaction, but said that the assets sold were not quantifiable value.

Historic order for Airbus

EADS: + 2.24% to 20.52 euros.

The main low-cost Indian carrier IndiGo has committed to buy 180 Airbus A320s, of which 150 copies of its new version remotorisée Neo, for a total estimated at $ 15 us fast cash.6 billion based on list prices. According to Airbus, a subsidiary of EADS, it is "the firm contract for the largest number of aircraft in the history of civil aviation."In addition, the Executive Chairman of the European aerospace group EADS, Louis Gallois, who recalled that his contract did not expire until June 2012 and that the question of his succession would be discussed "in due course".

Sodexo: -2.80% to 51.73 euros

Sodexo confirmed Wednesday its annual targets and announced for the first quarter of fiscal year 2010-2011 offbeat, organic growth in sales of 4.7%.

Hermes: -0.34% to 159.45 euros

In the case between LVMH Hermes, the manager of the saddle, Patrick Thomas, said Tuesday night told AFP he was "serene" face to appeal to be lodged by the Association for the Defence of Minority Shareholders, chaired by Colette Neuville.

Iliad: -2.16% to 77.90 euros

The founder of Iliad, Xavier Niel, sold at 77 euros per share, or 1.3% of the capital provider of Internet access, which remains the largest shareholder with 62.7%.The investment has focused on 700,000 shares, totaling 53.9 million euros.

Renault must file a complaint on Wednesday

Renault: -0.34% to 49.17 euros

Renault will file a complaint Wednesday in the case of alleged industrial espionage aimed at three of its officers, after a series of interviews prior to a dismissal which took place Tuesday between management and employees in question.

Sanofi-Aventis: + 1.92% to 50.39 euros

The CEO of Sanofi-Aventis said he did not know how far he would go in its discussions on the purchase of Genzyme.For his part the General Manager of Genzyme declined to comment on his discussions with the French pharmaceutical group after the presentation of its quarterly revenue.

Technip: + 0.79% to 74.45 euros

Technip said in a statement that a consortium comprising two subsidiaries in Angola has won contracts to supply umbilicals to develop an oil field in deep waters.

Michelin: -0.70% to 53.64 euros

Analysts of the British bank, HSBC, would lower their recommendation on the title of the automotive supplier Michelin to "underweight" cons "neutral" before, according to market sources.

The year 2010 has ended in optimism on Wall Street. Over the whole year the Dow has gained 11%, the S & P 500, 13% and the Nasdaq Composite, 17%. Friday, after a little busy meeting, Wall Street has found this wonderful year on a stable tone. The Dow Jones gained 0.07% to 11,577.51 points, however, the S & P 500 lost 0.02% to 1257.64 points and the Nasdaq fell 0.38% to 2652.87 points.

On Monday, U.S. stock markets continue their forward march.In early trade, the Dow Jones gained 0.34% to 11,617 points, the Standard & Poor's 500 advance from 0.85% to 1268 points and the Nasdaq 100 climbed 1.02% to 2680 points.

The ISM manufacturing index program

Over the last week of 2010, Wall Street was supported by a series of macroeconomic indicators of good quality, suggesting an acceleration of consumption and economic growth in the United States. The year 2011 will begin on hubcaps, with a new salvo of indicators due this week could test the optimism of the end of 2010.

The dance of these publications will begin today with the ISM manufacturing index for December 2010. Investors will also monitor this Monday in the U.S., sales of construction spending for November.

Also on this week, figures for industrial orders for November will be released Tuesday, and the next day, the ISM index on the services sector will be announced. The latter is more representative of the health of the U.S. economy as the ISM's manufacturing sector alone published Monday.

Thursday investors will learn the traditional figures of weekly claims for unemployment compensation. Friday, dropping the first estimate of net job creation in December by the Department of Labor and the unemployment rate, calculated from a survey of the workforce.

On the foreign exchange market, the euro was down against the dollar on Monday due to uncertainties still the public finances of most vulnerable countries in the euro zone as Portugal and Spain.Around 11:00 am in Paris, the euro was trading 1.3303 dollars against 1.3381 dollars on Friday night.

Facebook valued at $ 50 billion

The side of values, the investment bank Goldman Sachs has invested in community site Facebook on the basis of a valuation of $ 50 billion, said on Monday the New York Times. The value of Facebook, so far estimated at $ 42 billion, would be higher than that of groups established for much longer, like eBay, Yahoo! and Time Warner, says the newspaper, quoting sources involved in the transaction guaranteed payday loan. Goldman Sachs and an anonymous Russian investor have made some 500 million dollars to the site founded by Mark Zuckerberg.The personal wealth of the latter would end up this way doubled.

The Financial Times for his part said that the microblogging site Twitter has declined in 2008 to a takeover bid of $ 500 million social networking site Facebook.

Difficult start to the year for Apple. Some iPhone users have started 2011 with a failure alarm, the alarm function of the smartphone has been a computer problem with the change of year. According to the BBC, this anomaly has involved occasional alarms iPhone 4 and previous models of the Apple smartphone with the latest software updates. The British newspaper Daily Mail reports that thousands of people arrived late for work or missed trains or planes because of this problem.The alarm function of the iPhone had already experienced difficulties during the transition to winter time.

Google dream of a new digital kiosk

For its part, Google would work on a new digital kiosk designed for mobile devices running its Android operating system, hoping to seduce the newspapers by offering better terms than Apple, said Sunday the Wall Street Journal. Several media groups, including Time (Time Warner), Conde Nast and Hearst have already been approached by Google for this project, according to the Wall Street Journal.Furthermore, Lagardere said Friday evening is in exclusive talks until January 30, 2011 with Hearst on the sale of its flagship news magazine world.

Always on the side of values, the world's number one smart card Gemalto announced Monday it had completed the sale of its payment terminals in VeriFone U.S., the major competitor of French Ingenico. The amount of the transaction, which occurred Dec. 31, is not specified in the statement issued by Gemalto."VeriFone is a leading global payment solutions for merchants and banks side traders, and we, we are champions of payment solutions for consumers and banks that issue credit cards," says Gemalto.

For his part, Saint-Gobain announced Monday the completion of the sale of its "Advanced Ceramics" at CoorsTek U.S. group for $ 245 million, or about 200 million euros.

Also note, four insurers, including Swiss Zurich Financial Services (ZFS), will pay a total of $ 120 million (90.3 million) to settle a dispute with the State of New York concerning overpayments insurance premiums, officials said Monday.

Covered with snow after the storm that hit on Sunday evening on the northeast coast of the United States, Wall Street closed on Monday in a disorganized, while the new rate hike Chinese, reached this weekend , invited investors to a certain caution.

At the close of U.S. stock markets, the Dow Jones folds of 0.16% at 11,555 points, the strandard & Poor's 500 and Nasdaq 100 grappillent both 0.06% to 1258 points and 2667 points.

No statistics on the agenda macroeconomic Monday, prompting investors to focus on the surprise hike in interest rates in China and, therefore, to mope. In fact, in principle, the operators do not respond well to a rise in interest rates. A reaction of defiance that could also be temporarily increased, during this holiday season digs.Indeed, low volume and volatility room can promote excessive reactions. Unclear whether, in this context, the few active investors will pay attention to news companies. Remains that 2010 has been a great year bone pourWall Street.

Viacom sells Harmonix and action is supported by Cisco Barron's

Despite the snow, wind and cold stores that had reopened Sunday after the closure of Christmas never empty, to the delight of retailers. However, cancellations of flights and trains, especially from Europe, have multiplied over the weekend. Many flights of British Airways (London market closed) and Virgin Atlantic, canceled Sunday were rescheduled for Monday payday loans for bad credit. Air Canada for its part warned that many flights might be canceled or delayed in the Atlantic regions of the country.

Viacom (0.56% to 39.39 dollars).U.S. media giant sold the studio Harmonix, creator of the licenses of music video games Guitar Hero and Rock Band, Columbus Nova, an investment company. The third quarter of 2010, Harmonix has recorded losses of about $ 300 million against a modest profit over the same period last year. Viacom bought Harmonix in 2006 to 175 million dollars. Harmonix takes note of this decision and looks forward to once again become independent.

As for Cisco Systems (2.39% to 20.16 dollars), a barometer of the technology sector, its action would be undervalued and should increase by at least one-third from current levels, according to Barron's. In its Saturday edition, the U.S. financial weekly said that if Cisco is approaching its long-term growth in sales, and the stock should rise at least at its peak in 2007, $ 27 .Barron's said that investors had factored into the course "too much skepticism about the prospects for Cisco. Action Cisco closed last Thursday to 19.69 dollars.

Finally, the U.S. bank Goldman Sachs (1.43% to $ 170) has decided to link the payment of his bonus to long term performance "of its executives. Salaries and bonuses could reach a record level on Wall Street for 2010.

Two thirds of the Spanish air traffic controllers on strike since Friday night, began to regain their positions, 109 of 159 strikers. The Spanish Minister of Transport José Blanco announced on CNN + that the airspace of the country was now "totally open".

Traffic has not yet been able to take the big foreign companies and the national airline Iberia has already planned to cancel all flights until Sunday. The minister also does not return to normal traffic before 24 to 48 hours.

State of alert

The Spanish government had met this morning to decide what action to take to the air controllers' strike that paralyzed the country, and had declared a state of emergency. A fateful decision.Under this decree, air traffic controllers can be mobilized and strikers are punishable as criminal, up to the prison. This decision means "that the controllers are summoned to their posts and if not, they would be in the crime of disobedience under the military penal code," said Interior Minister Alfredo Perez Rubalcaba after a meeting Crisis Cabinet. This is the first time the government takes such a position since the death of General Franco in 1975.

On Friday the government had already assigned to the Army the responsibility for air traffic control. despite this, no traffic recovery has taken place this morning. Iberia and Ryanair even announced they were canceling all their flights until Sunday morning. Air France, KLM, Thai Airways and EasyJet also.Almost all of Spanish airspace has been closed since Friday night, whereas many Spaniards were preparing to leave Friday for a five-day long bridge, the beginning of next week being a holiday in Spain.

Opposition to the maximum working time

Air traffic controllers have abandoned their jobs late Friday afternoon to protest against a measure adopted shortly before the Council of Ministers, peaking at 1,670 hours per year working time.

This is part of the device of partial privatization of airport management Authority (Aena) adopted by the government under new anti-crisis measures. The Minister of Public Works, Jose Blanco, condemned what débryage wild as a form of "blackmail."

Tourism accounts for 11% of Spanish GDP and the Spanish hotel confederation said that these disruptions in air traffic would result in a shortfall of millions of euros for the industry and a blow in terms of tourist destination image Spain.

(With agencies)

The situation in the service stations in France remained "a little tense" in some areas, but "we are in crisis" and "normalcy" is expected "Thursday", said Alexander AFP Monday Benoist, Chief Executive of the IPU.

According to the Union of independent petroleum importers (IPU), it remains "here and there" service stations that have not all products, "essentially the SP98, due to difficulties in restocking holiday Monday.

But "there will be a large number of replenishments from Tuesday," said Alexandre de Benoist, "primarily in the stations go dry.""The return to normal is scheduled for Thursday," he said.

The Department of Energy had said earlier in the day that supply the cell set up to coordinate the response of governments to the fuel shortage will continue for another week, but in a "very lean "to" monitor and thinning of the return to normal until early next week. "

The plan put in place for the long weekend of All Saints "works satisfactorily in all targeted areas: the main roads (which) have been constantly fed, and improvement in the Ile-de-France in the West Zone continues. " There remains some "occasional difficulties", recognizes the department.

The ministry said the situation is normal in over 95% of service stations in the country.

(With AFP)

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"There is no out of fuel"

Droughts and fires will they bring Russia to its knees? The Russian government admitted on Tuesday that recent weather events will cost between 0.7 and 0.8 growth in the country. Without this unprecedented heat wave last half-century, the Russian economy would have increased from 4.4 to 4.7% in 2010, according to a first estimate unveiled by Economic Development Minister Andrei Klepach. The final cost of these disasters should be known in November.

"The extreme heat and smoke from fires have forced businesses to close their plants or reduce their production schedules," according to economists at HSBC payday advance lenders. "The productivity of those who have maintained their production has declined considerably." These climatic events were particularly affected the agricultural sector. Wheat production is expected to drop by and third.What make analysts more pessimistic than the government: they think the heat wave is expected to cost a point of growth.

Russia, however, had started the year well, with a growth rate of 2.9% in the first quarter and 5.2% in the second. "In the third quarter, the activity should be particularly weak and a scenario of stagnation can not be ruled out," HSBC economists said.

After a pause of three days (Monday holiday), the U.S. stock market, resumed the height Tuesday. The Standard & Poor's 500 and Nasdaq 100 advancing in effect by 1.3% to 1035 points and 1.7% to 2126 points. On Friday, the NYSE has fallen heavily, cooled by the monthly figures of employment in the United States, although less well than expected. Last week, the Dow Jones dropped 4.51% to 9686.48 points, ending Friday at its lowest level since October 5. The Nasdaq fell 5.92% to 2091.79 points and the Standard & Poor's 500 index 5.03% to 1022.58 points.

On the foreign exchange market, the euro continues to rise on Tuesday. At 15.30, the euro gained 0.38% to 1.2592 dollar.

The session on Wall Street, will begin with the announcement of the PMI services.Apart from this indicator, no other major news is expected.

After the disappointment of Friday on the employment figures, investors should be particularly careful this week to weekly figures for unemployment benefits that are to be published Thursday.

The employment report in June showed Friday that the U.S. economy had reduced jobs for the first time since the beginning of the year. Even the decline in the unemployment rate to 9.5% was not enough to reassure investors, this situation reflects the despair of a portion of the workforce, which seeks more jobs.On Wall Street as on most other major world places, operators should play the card of caution this week before the opening of the interim results season.

On the face values

Within the Dow, the ball begins, as always, with results from Alcoa July 12 (next Monday).

Meanwhile, the discount retailer Family Dollar Stores (3% to 39.8 dollars) to publish its half-yearly results on Wednesday credit score. This will be the only company in the S & P 500 to publish its results this week.

The BP Plc, also listed on Wall Street leads the session with an increase of 4.9% to 30.8 million.After the group has denied being the search for new shareholders, Shokri Ghanem, Chairman of National Oil Co, a Libyan oil, said that Libya should return to the capital of the British oil company.

The share of investment bank Goldman Sachs benefits of raising recommendation JPMorgan, which rose to overweight on the title: +1.7% to 133.3 million.

Ford Motors has seen its price target return of 16-14 dollars by Goldman Sachs, the bank has lowered its estimate of overall vehicle sales in 2010. However, retain a recommendation "attractive" on the automotive sector. Finally, shares rise 1.5% to 10.43 dollars.

News Corp., the media group founded by Rupert Murdoch, The Wall Street Journal, in discussion with Google, Microsoft and Yahoo! for the sale of advertising space on MySpace, so that the current contract with Google ends.The securities earn 1% to 11.9 million.

The group of agrochemicals and seeds Monsanto (0.3% to 46.7 U.S. dollars) Monday withdrew its complaint against European importers of industrial soybean meal from Argentina. Monsanto previously estimated that they infringed its European patent on its Roundup Ready soybeans. But the group has settled its dispute with the Dutch importer and dealer Cefetra raw Alfred C. Toepfer International just before decide the European Court of Justice on the case Tuesday.

The tone rises between the administration of Barack Obama and BP. The head of the American branch of the oil company, Lamar McKay, said Tuesday at a hearing in Congress, he refused to promise the creation of an escrow account to compensate victims of oil spills in the Gulf of Mexico. The $ 20 billion has been raised in a letter to the CEO of BP, Tony Hayward. "I am not able to tell if an account is established or not," said Lamar McKay. "I can not commit, either one way or the other"

The idea had been raised by the White House. Several members of Congress while announcing their desire to put pressure on BP to put it in receivership on payment of its dividend in order to ensure compensation for victims of the disaster, compared to a "September 11th green" by Barack Obama.

According to the White House press secretary, Robert Gibbs, is already preparing the risposta in the Oval Office. Barack Obama will "be forced either to reach an agreement with BP to withdraw their control of the process of claims and entrusted to an independent structure, so that people who have been harmed to obtain the money they is due, "said the spokesman. The administration is based on the polluter pays law in force in the United States, which requires BP to pay the costs of plugging the leak of oil, cleaning the polluted coastline and compensation for victims.Traveling in Pensacola Beach, Florida, Bush assured the residents affected by the oil spill that would "whatever it takes, as long as it takes to be sure that BP is paying for the damage that it has caused.

An oration

President Barack Obama has formally addressed his countrymen on Tuesday at 8:00 p.m. (2:00 am, Paris time). He will be speaking from the Oval Office of the White House, space reserved for the most serious crises and whom he'd never used a speech to the nation.

A senior, Bush will announce the appointment of a person responsible for restoring long-term disaster areas by the oil spill that pollutes the Gulf of Mexico. The "czar" as the press dubbed the American mission will be to "restore the Gulf of Mexico.Not to where it was the day when the accident occurred. But to restore it to where it was years ago: to increase the life and vitality of the species, wildlife and natural beauty that characterizes the Gulf of Mexico, "said Robert Gibbs.

Barack Obama will set out above "the need to reduce our dependence vis-a-vis oil and fossil fuels" No faxing 1 hour payday loans. He will also discuss the "changes necessary for such a disaster never happens again more. According to an anonymous source, the U.S. president will "present the measures taken to protect those who suffer financially from this disaster, especially during the process of compensation."

"The tragedy was avoidable

Under pressure, BP must also face competition that dares to push it."I am convinced that the independent investigation will show that this tragedy was preventable," and called John Watson, head of oil company Chevron to members of the Committee on Energy and Commerce House of Representatives. The explosion and the sinking of the platform in late April Deepwater Horizon "show once again that all companies must work under the same strict safety and reliability. It is obvious that not following these rules has serious consequences, "he added.

"It is imperative that an investigation expert, impartial and comprehensive investigation takes place, because this incident represents a serious breach of standards relating to offshore drilling, for his part stressed the boss of ExxonMobil, Rex Tillerson .

In addition to the Chevron boss and ExxonMobil, ConocoPhillips and Shell were present. Facing them, Lamar McKay attempted to defend his group."I want to make things clear: BP will know no rest until the wells will not be under control and that we do not understand what happened," he said.

Ficth puts his two cents

BP has several weeks to manage its bad reputation. The group would also relies on advisers to help him. The efforts required will be considerable, especially since the rating agency Fitch has come to contribute to the debate on Tuesday, lowering the notches of six notes of the British major. The latter is now BBB AA cons. Fitch maintains it under "surveillance implications". The rating agency is particularly concerned that BP may be forced by U.S. authorities to place large sums into accounts in receivership.This is the first time that the note of BP is lowered several notches by the three leading rating agencies worldwide and it falls below the AA.

At the London Stock Exchange, BP shares ended the session on a further drop of 3.78% to 342 pence while the FTSE close up on 0.30%. In New York, the action is able to earn 2.18% to 31.31 dollars during the session on a market up 1.22%.

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The low participation rate of older workers back into the crosshairs of the government. While the employment rate of 60-64 years is 17% – against 30% on average in Europe – the postponement of the next age of retirement increases the urgency to improve their employability. Lest the number of older unemployed increased significantly. In an interview in Paris, the Secretary of State for Employment Laurent Wauquiez details the tracks being considered by the government to address them.

First measure: a transposition to senior citizens, at the request of the President of the Republic, the device "zero charge" established during the crisis to boost recruitment in small businesses. A measure that was then allowed to generate, according to the government, one million additional jobs.Since, according to the observation made by Laurent Wauquiez, "companies do not hire older workers because they are too expensive," Secretary of State for Employment suggests "to enable companies who hire older unemployed to be exempt from charges. " A measure that could prove costly.

Second measure mentioned: encouraging the development of tutoring. A practice already contained in most "action plans" developed by companies with over 50 employees in early 2010, the government's request. "This creates the link between generations," says Laurent Wauquiez, a senior form a young, and so we created employment for both. Today, the device for 200,000 people.But the government wants to go further, developing the management of a portion of the salary of the guardian in order to lower the cost of funds for vocational training.

The government's proposals in the context of pension reform should not be known until mid-June But the number of unemployed over 55 years did not wait until that date to increase: in May, it still rose 0.8%.

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