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For the first time since 1980, the number of three public (state, territorial and hospital) have stagnated in France in 2008. Specifically, they rose only 1800postes. From never-seen since 1980. At 31 December 2008, according to report data annually on the Public Service published yesterday, the Hexagon were almost 5.3 million employees, or 20.5% of total employment, and 656,000 more than a decade ago.

The virtual stagnation of 2008 is largely to the credit of the state civil service has continued to decrease in population from 2006. It has eliminated 77,000 jobs last year, including through non-replacement of a staff of two who retire and to continue the policy of transfer of powers to local authorities. This represents a decline of 3.1% of its workforce in a year.France, employs 2.4 million civil servants, 69.5% and 14.1% of holders of soldiers. This total is 1.4% lower than in 1998, representing a decline of nearly 35,000 agents in a decade.

The numbers have declined in 2008 across all departments, with the exception of Justice and the prime minister. The portfolios of Education and Ecology have been most affected by the cuts with cuts respective 43,000 and 23,000 agents. Finally, almost a two-state official now works in education, one in five of Defense and Interior to eleven.

2328euros per month for a state agent

Another finding of the report 2009-2010 on the state of the public service: local authorities have continued to recruit with a vengeance with nearly 70,000 new jobs in 2008.The local civil service now employs 1.82 million people. A total of 3.9% higher than in 2008 and, especially, a surge of 40% compared to 1998. This dramatic increase is partly related to the second law of decentralization occurred in 2003. The regions – which employs only 4% of all local officials – have been particularly intensive public sector jobs as they saw their numbers jump over a decade, from 22.5% on average each year and even 49% per year since 2005. In more than one in four cases, recruitment occurred three years prior to 2008 had nothing to do with transfer of responsibilities from the State.

The public hospital has, meanwhile, was more reasonable since the increase of its workforce in 2008 was four times lower than that of local authorities: 1% over one year or more 10000agents.At December 31, staff of public hospitals accounted for approximately 1 million people. Those numbers have increased, on average ten years, 1.8% each year.

Pay later, an officer of the state received an average of 2328 euros net per month in 2008. An increase of 3.7% in current euros a year and 0.9% after allowing for inflation. Territorial Agent earned nearly 600 euros less and a hospital, 150. In both cases, the territorial and hospital officials have seen their wages decline in net income a year, by 0.6% and 0.1% in constant euros.

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Wall Street opens very cautious on Monday, before the employment figures expected later in the week. At the opening, the Dow Jones 0.1% to loose 10143 points, the S & P drops 0.19% to 1063 points and the Nasdaq, 0.42% to 2145 points.

Before the bell, consumer spending rose more than expected in the U.S. in July. Consumption has picked up 0.4% yoy compared to June It's better than the expected by analysts, who had estimated the consumption growth to 0.3%, according to their median forecast.Spending growth has outpaced that of household income since, according to the ministry, they are divided up by 0.2%, after virtually stagnating in June

On Friday, the NYSE had ended up, apparently reassured by the downward revision in less severe than expected U.S. growth in the second quarter U.S. GDP in fact increased by 1.6% in the second quarter cons expected 1.4% recently, but against 2.4% expected in the first estimate.

Despite a speech by Ben Bernanke at Jackson Hole somewhat mixed, the U.S. stock market saw on Friday, the Dow Jones climbing 1.6% to 10,150 points and the Nasdaq 1.6% to clinch also 2153 points.

Responsible economic news this week

On Tuesday, it will house prices and economic activity in the Chicago area in August and, finally, the consumer confidence that will be published. Wednesday, Thursday and Friday will be dominated by the particular job, with, successively, the ADP employment figures, entries weekly, and finally figures of unemployment and employment in August.

Waltz of mergers and acquisitions

On the corporate side, the spectacle of mergers acquisitions poursuit.3Par (-1.45% to 31.99 dollars) soared 25% to 32.5 dollars on Friday night.As for his suitors, HP (2.32% to 38.88 U.S. dollars) has increased its prices by 3 27 to $ 30, Dell (0.53% to 11.95 U.S. dollars) has aligned its offer Friday morning over $ 27 No fax cash advance.

The German manufacturer Infineon Semiconductor announced Monday the sale of his division's wireless, which makes components for mobile phones, the U.S. Intel (-0.82% to 18.22 dollars) for 1.4 billion (nearly 1.1 billion euros).

The CEO of Sanofi-Aventis, which formalized Sunday his intention to acquire U.S. biotech Genzyme (3.95% to 70.29 U.S. dollars) to $ 18.5 billion, said that "a lot of time can still drain "by launching a bid, in an interview with Voices dated Monday.

Sanofi-Aventis announced on Sunday a proposal for acquisition of U.S. biotech group Genzyme for a price of 69 dollars per share, totaling $ 18.5 billion (14.5 billion euros).But the board rejected on Monday unanimously the proposed terms.

The Indian government was to meet Monday officials from the Canadian manufacturer of BlackBerry (RIM) to try to break the deadlock over access to encrypted data from the phone, on the eve of the ultimatum on the blocking of two services mail.

French insurer Axa has reduced by almost half its share in the prestigious U.S. investment bank Goldman Sachs (-0.17% to 139.52 U.S. dollars), the center of criticism for his role in the Greek crisis, according to documents the regulatory authority of the U.S. markets (SEC).

The U.S. industrial conglomerate 3M (-0.8% to 80.35 dollars) on Monday announced the acquisition of Cogent group (19.35% to 10.64 U.S. dollars) to over 900 million dollars (708 million euros ), which represents a premium of nearly 18%.3M will pay $ 10.50 in effect by title Gogent, which posted a closing price of 8.915 dollars Friday. The transaction should be completed in the last quarter of 2010.

The acquisition by Sanofi-Aventis Genzyme will Does the operation of the summer? Sanofi-Aventis, Genzyme would have sent a letter mentioning his interest in the company, according to a source close to the deal relayed by Reuters, adding that the two companies were discussing the offer.

According to the agency, the proposed acquisition would be valued around $ 18.4 billion, or $ 69 per share. For several days, analysts forecasts of competing on the amount of the bid. The Wall Street Journal, the offer of French would be between 67 and 70 dollars per share valuing the American between 17 and 18.8 billion dollars.

Genzyme is not ready to accept an offer below $ 80 a share. But analysts said Sanofi-Aventis could make a first offer around $ 70 per share to acquire the U.S. biotech. What it would raise its offer to $ 80.A price for analysts remain quite tolerable for the French group. Quoted by Reuters, one analyst said that "70 dollars would be a first offer" and that "at $ 80 it remains a good deal for Sanofi. Same story for another sector specialist who believes that $ 80 "operation creates value in three years that will follow."

Sanofi single buyer under Citi

As for Citigroup, estimated that Sanofi will likely be the only buyer of American specialist on rare diseases and will pay between 74-77 dollars per share, or 19.7 to 20.5 billion dollars (15.0 to 15 6 billion euros). They add that the French lab could launch a hostile bid if Genzyme resists and present its offer directly to shareholders.He continued: "shareholder Relational Investors, Carl Icahn, who hold respectively 3.8% and 4.9% from Genzyme, could be satisfied with an offer around $ 75 since they bought at 61 and 54 dollars. In fact, an agreement would be accretive to $ 75 4% in 2011 and 13% in 2013 for Sanofi, analysts have calculated the Citi.

At Raymond James, Eric Le Berrigaud doubt that "70 dollars is sufficient. Starting at $ 70, is ready to go up to 80 dollars, "he notes. "And at 80 dollars it is not certain whether all the guarantees of success because it is about the level or action Genzyme was before its production problems. The biotech has indeed experienced last year a series of production problems on its sites in the United States, which continue to weigh on its business.

A fourth analyst insists that Sanofi is expected to launch its bid for Genzyme even if it does not create value for the group's objective is to increase its earnings per share. "For the operation to bring value, it should pay less than $ 70 per share, or about 64 dollars," he says. "If Sanofi launches operation beyond, is that the group favors a financial logic in the short to medium term to close down its results and not the logic of value creation."

Doubts to find a "white knight"

Sources familiar with the case, it said last week that Sanofi had sent a letter to Genzyme with the terms of its offer. This offer would be "friendly" at first but may become hostile if necessary.

The Board of Directors of Sanofi would have authorized an offer of 18.7 billion dollars.But Sanofi has financial guidelines allowing it to raise its offer, that is to say, bring it to more than $ 70 per share. The experts, anyway, doubt that Genzyme is a "white knight" to deal with Sanofi.

Meanwhile, as Genzyme was trading late Monday to end at 70.36 dollars, up 1.15%. In exchange after exchange, the title earned more than 2% to just under $ 72. Since the early rumors, Genzyme shares gained 38%.

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The leaders of Taiwan and mainland China signed Monday in Chongqing, Sichuan, a free trade agreement that will profoundly change the relationship between the two countries. Called framework agreement on economic cooperation (ECFA), it plans to introduce preferential tariffs on 539 products exported from Taiwan to China, the island being provided by 250 Chinese products. More favorable to Taiwan and in Beijing, however, it divides the citizens of the island. They fear that China, which does not recognize the Republic of Taiwan and considers it a renegade province, one profits to strengthen its hold on her and never grows to become like Hong Kong, part of its territory since 1997 .

Betwixt and cons crisis, employee ownership is booming, if you believe a study of the consulting firm Hewitt Associates, which interviewed 56 companies, listed on the Paris Bourse, the CAC 40 SBF SBF 120 or 250. Among them, 88% claimed to have in 2010 further encouraged their employees to become shareholders, 92% through the CIPF (mutual fund company), 47% through actions. 26% of companies offer bonus shares, which represents almost two times more than in 2009.

Last year, despite the crisis, they have continued to assist their employees in their savings effort: nearly half of companies have set up a contribution. Nearly 70% of companies shall, in addition to developing new employee share plans at least every two years.Convinced of the value of the managerial ownership, 91% of businesses use it to reinforce the sense of employee and 63% for muscle motivational forces.

Finally, 59% say there are more pragmatically additional financial benefits to supplement wages sometimes down. But employee ownership offers advantages that … Too strong, it might even be a hindrance if the company wants to open its capital: 50% of companies (against 27% in 2009) suggest a reluctance on their main shareholders development of employee ownership.

This is the game in the match. A confrontation that has now lasted fifteen years and which becomes, every World Cup, a bit tighter. What is at stake? Nothing less than the title of world's first supplier football, a market estimated at 8.4 billion euros.

Adidas, supplier of the Blues since 1972 and until the end of the year, has long dominated the head and shoulders in this market. It must be said that the three stripes accompanies some of the heavyweights of the circuit, between Germany, Argentina, or Spain, European champion in title. In South Africa, no less than 250 players will evolve with his shoes on his feet, including the Golden Ball in 2010, the Argentine Lionel Messi. Adidas is also and always a cornerstone partner of FIFA. As such it will still provide the official ball of the competition, Jabulani.A real goose that lays the golden eggs as 100 million replica of the official ball (Teamgeist) were sold during the last World Cup in Germany. The German brand thinks its still football star. With 12 selections in the portfolio, it remains the leading supplier of this World Cup as the number of teams and expects a turnover exceeding 1.3 billion euros in football in 2010. The number of Blue jerseys sold, it announced already 300,000 copies pay day loans.

Across the U.S. Nike did not hear it that way. With nine teams selected, including Brazil, but also England and Portugal, the group digs every year its wake. By adding the sales of its subsidiary Umbro, it also claims the No. 1 spot in world football, for a turnover of 1.9 billion dollars.Undoubtedly the American brand has scored points in football in recent years, including garnering the Blues jersey from 1 January 2011 and until 2014. The sum on the table to win has skyrocketed since we are talking of 320 million euros over four years! A number deemed unreasonable by the loser, the term of moody French, both in qualifying at the World Cup matches that preparedness, indeed raises question ….

Faced with these two giants going blow for blow, Puma heard his little music. Not without success and without excess. Equipment manufacturer of world champions title, Italy, a subsidiary of PPR focuses more than ever on African football.The team for this year four of the six teams involved in the African continent, South Africa, including Algeria (whose jerseys are selling like hotcakes, especially in France), Cameroon and Cote d'Ivoire.

U.S. markets resumed momentum. After opening the session on a slight increase (0.16%), the Dow Jones continues to grow more strongly in the morning, settling on a less hesitant in green. Around 17 hours (Paris time), the leading U.S. index is 0.71% at 10,257 points, the Nasdaq gained 0.23% to 2176 points and the S & P 500 rose 0.71% to 1097 points.

This stronger growth is explained by the strong housing figures, published an hour after opening. Thus, the promise of home sales in December rebounded in December from 1%, as expected by analysts, after falling 16.4% in November, according to figures from the National Association of Realtors American (NAR) .

Nevertheless, caution is required."The market is just in a holding pattern, waiting to see if the advance of yesterday continues, and watching the economic indicators and hearings on Capitol Hill," observed Patrick O'Hare, Site Analysis Briefing . com.

The shadow of the monthly report on employment which will be released on Friday, weighed on the market. Investors will also be attentive to the hearing of an economic adviser to the White House Paul Volcker before the Senate Banking Committee and the beginning of the hearing Treasury Secretary Tim Geithner on the draft budget 2011.

As for currencies, the euro rose further against the dollar (0.16%) to 1.3946 dollar. For raw materials, oil regain momentum he gained 2.17% to 75.21 dollars.

The bank under the microscope

The banking and financials should be monitored.Indeed, Paul Volcker, a leading economic advisers of Barack Obama should call on Tuesday, Congress to limit the scope for risk-taking by large banks. Fannie Mae (-1.46%), Freddie Mac (-2.44%) but Morgan Stanley (-0.02%), JP Morgan Chase (1.54%), Citigroup (-0.30%) and Godlman Sachs (1.19%) react fa?pn mixed. The latter also strongly denied rumors conveyed by the Times that the bank boss, Lloyd Blankfein, could reach $ 100 million bonus.

The title Whirlpool skyrocketing: 6.74% to 81.19 dollars. The appliance group reported a quarterly profit that more than doubled to 95 million dollars, including through measures to reduce costs fast cash without a hassle . Its turnover rose 13% to 4.9 billion in the fourth quarter.

Dow Chemical took the opposite path: -3.95% to 27.50 dollars. The chemical company has posted net earnings of $ 172 million in the fourth quarter (+11.9%). Dow believes that growth will lag behind the United States and Europe, but demand from emerging countries should maintain growth.

Manpower (3.33% to 54.93 dollars) has announced a net profit declined by 62% to $ 29.1 million, 37 cents per share, against $ 76 million, 97 cents per share, a year ago . It also provides an increase in its turnover in the first quarter.

UPS (+0.27% 58.53 dollars): the U.S. mail group saw its net income dropped 28% to 2.152 billion dollars in 2009 although it has rebounded strongly in the fourth quarter. In the fourth quarter, it rose to 757 million, nearly three times more than a year earlier to the same period.

Kraft Foods (+1.39% to 28.45 dollars): Cadbury's shareholders have until today to decide on the bid of 11.7 billion pounds (13.4 billion euros ) American group.

Bank of New York Mellon (-1.44% to 29.15 dollars) said it would buy a division of investment services to PNC Financial Services Group (-1.09% to 55.25 dollars) for 2 31 billion, including $ 1.57 billion in Action. This deal could help PNC to repay 7.6 billion dollars of public funds received by the bank. The news was not well received by investors.

DR Horton displays the finest up market: 9.40% to 13.03 dollars. The U.S. developer reported net income of $ 192 million in the fourth quarter against a net loss of $ 62.6 million a year ago.The tax credit amounts to $ 149.2 million.

Finally, the automobile industry expects sales figures of new cars in January. Ford should have recorded double digit growth over the period from January 2009. In exchange, the title is already 2.25% to 11.37 dollars.

Nicolas Sarkozy and Christian Estrosi, Minister of Industry, do not joke with the relocation. Especially if Renault thinks. The Minister of Industry will meet Monday at Bercy representatives of subcontractors and management of Renault. Wednesday, Nicolas Sarkozy will Pelatat Patrick, the CEO of Renault. Raymond Soubie, adviser to the president in charge of social issues, and Christian Estrosi will attend.

The manufacturer would consider producing future Clio fourth alternate name and model currently sold in Turkey and no longer Flins, near Paris. The French site would produce more than batteries. A statement carried by the daily La Tribune is the cause of government ire.The Minister of Industry and UMP taste little idea of seeing an additional part of the Renault automobile production from abroad, namely in Bursa, Turkey, which already produced the Clio.

Last year, the French carmakers Renault and PSA Peugeot-Citroen, each received support from the State of 3 billion euros in exchange for a commitment to keep the territory their assembly plants. A Turkish production 100% of the Clio would be contrary to this commitment. Yet the industrial device mentioned nothing very new.In early November, Carlos Ghosn, Renault's CEO, explained that the plant would Flins the heart of the strategy group in the electric car (our editions of the November 6).

Joint Venture

Besides the construction of an electric vehicle "in the heart of the range" of Renault and of a size equivalent to that of the Clio, Carlos Ghosn stated that the plant would also produce francilienne electric batteries. Renault's Japanese partner Nissan, the Commissariat ? l'Energie Atomique (CEA) and the Strategic Investment Fund (ISPs) have signed a letter of intent to create a joint venture. For its part, the State, which still holds 15% stake in Renault, must grant a loan at a subsidized rate, a maximum of 150 million euros in the project.

He has however never been any question that the Clio "is no longer produced in France," explains a spokesman Christian Estrosi.In ministry, it is estimated that Renault has enough plants to France to maintain production in the future Clio. Especially since this model is a best-selling brand and it has plenty of scrap bonus and environmental bonus.

For its part, the CGT Renault protests against a "call for competition between countries, sites and employees." The union condemned the "permanent blackmail exercised by the management of Renault, for grants and tax relief." Facing these criticisms, the management of Renault says that "the future is assured Flins.

A pull of the wrong color, ever read a book or CD in duplicate … Father Christmas does not always meet every household. A solution now exists to deal with this situation: selling gifts on the Internet. While more than 18 million unwanted properties are expected under the pines, 41% of Internet users plan to sell online gifts disappointing, or 20% more than in 2008, according to TNS for site auctions eBay. A system that has more and more popular, especially in times of crisis, when many French are eager to supplement their pay to finance spending Christmas and New Year or even recycle an object.

"This has really started there two or three years, but since 2008 there has been an acceptance of the principle," says the Figaro.fr G?rard Mermet, a sociologist and director of research firm Francoscopie.Sites of purchase and sale between individuals such as eBay, Amazon, Rue du Commerce, Amazon or 2Xmoinscher now prepare to welcome regulars appointments but also newcomers, starting Thursday evening and throughout the month of January .

Put gifts in stores on December 25 or 24

"Christmas is the time of year when we recruit new sellers," says Pierre Kosciusko-Morizet, President of Amazon founder, reached Figaro.fr. The consumer is now in a sense consuming evil. If an object is not useful, much resale.

But how to proceed if disappointing Christmas gift? "It is important not to unwrap it to prove they are new, the best is to put a picture showing it still packed. The potential buyer and said he will make a good business, "says Esther Ohayon, spokeswoman for eBay.For CDs, DVDs or books, it is also best to choose a fixed price and specify the gain that the consumer can do in relation to price.

For the rating of these products' bestseller, appearing each year head resales after Christmas, declining rapidly. "I therefore advise users to upload their property on the 24th night or December 25th and set a price just below the lowest rate of this object," explains Pierre and Kosciusko-Morizet. Another tip is that of G?rard Mermet, a philosopher, "to avoid conflicts, also make sure that people who have offered you a gift does not attend the site where you sell.

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