In the afternoon, the Greek government ministers had submitted their resignation at the request of George Papandreou, who, during an extraordinary cabinet meeting, said goodbye to his staff.

Negotiations behind the scenes

Behind the scenes, negotiations continued Tuesday for the second consecutive day between George Papandreou and the leader of the Conservative opposition Antonis Samaras to reach an agreement on power sharing and the appointment of a consensus prime minister. Sunday, the socialists of PASOK George Papandreou and the main opposition New Democracy had agreed to make way for a unity government after intense negotiations. George Papandreou was also committed to leaving office after two years in power.

For its part, the European Union on Monday called on Greece to write a letter committing to the implementation of the European rescue plan.

This is the revision of judgments that led the twin peaks of yesterday to look at both a greater debt forgiveness by the banks (see below) and a substantial extension of the second plan Support Service promised this summer.Signal of the malaise, the ECB has refused to endorse some of the assumptions of the report and the IMF dragging its feet to validate the final tranche of aid Papandreou government.

Three years late

109 billion euros announced July 21, the financing requirement of Athens may rise to 252 or even 440 billion in the darkest scenario of the troika. Greece, which was initially successful in refinance markets from 2021, could see the deadline extended until 2027. In the meantime, the countries of the euro should cover the dead as they have formally committed and maintain a drip Greece, backed up by the IMF payday loans with no fax.

Implicitly, the troika questions the validity of the treatment and the backlash seems he underestimated.Since the summer, "the situation in Greece has worsened," she notes prior to drive the point home: the plan adopted at the summit in July "reduced the pace of debt (the country) but the effect is more than offset the macroeconomic and political. " Clearly, the state of the patient's health deteriorates and Europe continues to hope for a better.

As a complicated medical treatment, management of side effects is crucial. Contrary to expectations, "Greece, part of a very low fail to juggle internal devaluation (through lower wages, Ed), tackling its budget deficit and the completion of its program privatization ", experts say the troika.

Privatization, expected to bring the Treasury Greek part of the resources it lacks, offer a good illustration of the inability to juggle all aspects of shock therapy.According to Troika, the recession and the collapse of financial markets have already reduced 66-46000000000 Product maximum expected disposals of businesses by the Greek State. Athens logically reluctant to sell off its assets at the worst of conditions. European experts in the wake recognize that the program has already taken three years late.

However, both companies know each other well. Six years ago, Yahoo! has given its China operations to Alibaba Group, paid him a billion dollars in exchange for 40% stake in Chinese.Since then, the U.S. has seen its value plunge and Chinese flew. The market capitalization of Yahoo! – $ 20 billion – equivalent to almost exactly the estimates of the value of its stake in Alibaba Group, says the Wall Street Journal same day payday loans. The holding company is not quoted, unlike any of its subsidiaries, alibaba.com, whose capitalization is evolving in the region of 3.5 billion dollars to the Hong Kong Stock Exchange.

Growth potential

Jerry Yang, founder of Yahoo!, for its part considers that his company still has a real potential for growth alone. This, even though the group has still not recovered from CEO to preside over its destiny after landing Carol Bartz in September.

The Chinese group is not the only one with views of Yahoo!. The investment fund Silver Lake, a Canadian pension fund and Microsoft are likely to file a joint bid.These speculations benefit under Yahoo! who won nearly 25% since the beginning of the month to return to the threshold of $ 16 a share on the New York Stock Exchange.

ALSO READ:

"And if Yahoo! went under the Chinese flag …

"Google is interested in the fate of Yahoo!

As part of an "employment pact" Airbus has undertaken not to use any redundancies and maintain the skills of its four German plants. "We did not shut the door to this request for guarantee of employment, because of the visibility we have on our business," said Thierry Baril, HR Airbus bad credit payday loans.

The aircraft manufacturer is leading to a backlog represents more than six years of production. And Airbus has an "exit clause" to protect the company if the crisis was growing, says Thierry Baril. In return, the IG Metall agreed to increase productivity in line with expectations of Airbus, an increase of 5% net per year as against 3% today. The agreement also resolves the question of the use of temporary workers. Their share will be limited to 20% of the workforce between 2012 and 2015 and 15% between 2016 and 2020. These levels may be exceeded temporarily in case of increase in speed.

ALSO READ:

"Airbus ahead of Boeing again

However, the CSA noted that the period from 1 July to 30 September, the news channel did not respect this balance on newspapers for information."ITV has given the opposition parliamentary speaking time 146% higher than that of the majority, BFMTV gave 142% and 130% LCI! Unheard of at this level "protests Christine Kelly, a member of the CSA in charge of the case. "The time allowed to PS was significantly exceeded" acknowledges CEO Guillaume Dubois BFMTV. "We have given priority to the information. Now the case has raised the antenna DSK in July and August, the Senate elections and primaries PS mobilized in September. We invited representatives of the majority but they decided to be discreet "defends Guillaume Dubois. "It's not the fault of having warned" Christine Kelly replies "I have met for the first time in July and I have warned against a possible slip of the Senate and the primary"

Tomorrow morning, the CSA will meet in plenary session.Constable Audiovisual could decide on a formal channels of information. "It's a yellow card. But if they start, then the CSA will release a red card and take sanctions "warns Christine Kelly

However, the CSA notes that most other television and radio all have fully complied with the instructions. On the side of France Televisions, which also broadcast the primaries in two news magazines, the balance was followed. Information for newspapers, counters ended September 30 show that the parliamentary opposition bloc has 51% of speaking time points Thierry Thuillier, the Director of Information of France Televisions.The new review period from 1 October to 31 December, France Televisions ensure balance time for the presidential majority, including calling Francois Fillon to 20 hours of JT France 2 tonight.

For news magazines, France Televisions has until Dec. 31 to offset the 4:45 discussion devoted to the primaries. Already Alain Juppe had been invited for two hours in the program "The words and actions" on September 30. Tonight, the program "Crossword" lasting 80 minutes will receive a majority of three personalities: Lionel Luca, Chantal Jouanno and Herve Morin. Finally, France Television is negotiating for an intervention of Nicolas Sarkozy on October 24.In this case, if the head of state talking about the crisis of the euro or Greek debt, his time is not counted, however if he talks about domestic policy, then the speaking time will be taken into account.

Excluded from this agreement the domestic free press Comareg (Released Sold), the division overseas (France Antilles, New Caledonia The …) and the group Paris Normandy.The latter could be brought to the joint venture after a restructuring led by the leaders of GHM.

This was submitted yesterday to the pool of 17 syndicated banks that have lent 190 million euros to Hersant Media Group, on the redemption, in 2007, Lagardère securities regional daily press in the south of France.

GHM has made some 700 million euros in turnover in 2010 to an operating profit of 18 million. The group, controlled by the family Hersant and directed by Dominique Bernard, announced in early July to be ready to open its capital to meet its debts. It has already sold its holdings in 2010 in Mediapost and Eastern Republican.

ALSO READ:

"Hersant Media sold to Belgian Rossel

"Hersant Media is ready to open its capital

Friday morning, in an interview Figaro.fr, the president of the SNCF had to call cool railway asking them to quickly resume work. After discussions with the unions in turn, management has committed to hold meetings with them to work to improve the security services. The first will be held Monday.

Traffic TGV, Corail and TER improved significantly Friday afternoon on the entire network, including 8-9 in 10 TGV from and to Paris and a TER of 2.But the return to normal really did that Saturday morning.

To find out if their train is running, users are advised to consult very Infolignes site, or call toll free (free from a landline) 0805 90 36 35.

Toll-free number and site of SNCF informationPotential always invites customers to delay their trip or take alternate means of transportation. Ticket holders whose train was canceled may obtain a refund, or take any train leaving for the same destination without the need to exchange their ticket.

The strike controller led Thursday the cancellation of all trains at night, and created a big mess all over the country. According to the station, all passengers stranded at the station in the evening were able to reach their destination or were assisted to find accommodation for the night.According to the Ministry of the Interior, it was not necessary to set up emergency housing plan.
Board trains at the Gare Saint-Charles in Marseille. Photo credits: GERARD JULIEN / AFP

This date corresponds to the extinction of the major broadcast rights as the game Saturday night in the Championship of France of football, as well as the rights to broadcast Diamond League (athletics) and the African Cup of Nations. It will, however, the rights of the ATT 1000 tennis which runs until 2013 for 4 to 5 million euros per year.A difficult case to the extent that these rights are not transferable by Orange to another operator, unless you agree with the rights holders. Because contrary to what was hoped the staff group, the chain has not been sold.

The band's arrival in Qatar in French football this summer has raised hopes the acquisition of Orange Sport the cost grid is around 160 million euros. A base that would have allowed the al-Jazeera Sport channel to launch in France in January no fax payday loan. But Qatar has not responded. Similarly, negotiations with the American ESPN have fizzled. However, Orange Sport, whose loss is estimated at 150 million euros, should not weigh on the financial statements 2011 of France Telecom.The group had provisioned at December 2010 the cost of the shutdown of its two channels, up from 450 to 500 million, including $ 300 million for the sports channel.

Of critical success

At the same time, Orange will lead a reflection on the future of Studio 37, subsidiary co-production film. Now deprived of the support of his movie channel and making low profile in the activity of the studio, its existence is justified less than in the past. Especially since, despite critical success as Welcome and Gainsbourg, or the heroic life of Fine guys, Studio 37 has had some setbacks as the Night kings of children, animated film on which it has invested 10 million euros – half of the production budget – to a resounding failure.

Orange is still given two years to find a growth in the studio and complementary activities before taking a more radical decision.

ALSO READ:

"Sosh Orange launches, brand mobile low-cost

"Orange is embarking on the low-cost for counter Free

UBS said Thursday an estimated loss of 1.5 billion euros due to fraudulent transactions of its employees. Since then, the bank did not provide details on the mechanisms in question. The extent of fraud appears, however, reach gigantic proportions: it would be spread over three years since October 2008, without apparently the slightest alarm it caused internally. UBS warned regulators Swiss and British have launched a joint investigation.The bank has set up a parallel internal investigation unit called "Project Bronze" and instructed one of his best traders in derivatives, Jason Barron, to unwind positions Kweku Adoboli. While the fraud would have been discovered in the day Wednesday, all commitments have been liquidated Adoboli Friday.

Supposedly low-risk operations

The trader, who was promoted to his post in 2008 from the back office services, was a member of a small team of five people at Delta One desk. Their mission: to invest large sums to the equity of the bank's alleged market changes, via financial instruments called ETF (exchange traded funds) small personal loans. Generally, low profits emerged from these supposedly low-risk operations at very high volumes.Adoboli of the fault could have come from a lack of coverage of his Paris, which would have resulted in a spiral of losses since the collapse of financial markets this summer.

New to fear layoffs

The extent of the scandal poses serious threats to the future of UBS. While the bank has launched a 3500 plan job cuts, new job cuts are feared. The approximately 6000 employees of the investment bank in London feared an outright shutdown of their business, which should show a loss on the year while UBS as a whole should remain the beneficiary. Despite calls for resignations in Switzerland, head of UBS, Gruebele Oswald replied that he did not intend. "If you ask me whether I feel guilty, I say no," he told the newspaper Der Sonntag.

Concerned about its reputation with its clients it manages fortunes, UBS wrote them a letter Saturday to try to reassure them. "We fully understand that this incident may worry, says the bank. We are very disappointed and we also assure you that UBS is taking the matter very seriously and makes every effort to resolve it quickly. Your assets are safe with us. "

ALSO READ:

"INTERVIEW:" We can not detect all financial fraud "

On Thursday, during an extraordinary works council, which lasted all day, Pascal de Izaguirre had planned to give details of the plan. He did not last. "The topic of the day was the proposed merger and any socially impossible before, says Le Figaro Jorge Partida, secretary of the EC and member of the FOR trade union, a majority. Pascal de Izaguirre wanted to give a figure for job cuts. At our request, he did not mention it.It was not on the agenda, we told him to observe the melting process. "

The plan is part of a drastic turnaround strategy Nouvelles Frontieres, which should acknowledge this year the heaviest operating loss in its history. To restore the finances of the company, Pascal de Izaguirre upsets ever habits by bringing together under one roof all brands (New Frontiers, Marmara, Tourinter and adventurer), without removing either. By doing this, this former Air France, arrived first at the head of Corsairfly before returning in May orders for the whole group, wants to end the spirit of competition that may exist between Marmara and New Frontiers, and save money.

'Strategic mistakes

The new entity will be called TUI Travel France and centered around a renewed organization, lighter and cross."The project" Convergence "is never an objective of uniform or standardized offerings," insists Pascal de Izaguirre.

By grouping the teams, Pascal de Izaguirre wants to impose more rigorous management, and revive the "spirit of conquest", which had the reputation of New Frontiers. "This plan is the fourth since the early 2000s and the takeover by the German group Preussag, held at the time by Jacques Maillot, said Jean Serrat, a former captain in Corsairfly and former secretary of the EC until 2006. The previous plans were not enough to boost sales momentum because there were strategic errors (in the diversification of products, distribution …). For the first time, brings together teams of Marmara and New Frontiers.This is finally going in the direction of a cost rationalization was inevitable. "

Pascal de Izaguirre wants to go fast. The implementation of the new operational structure of the company is scheduled for early 2012. He has no choice. In recent years, New Frontiers has lost market share that will be difficult to regain. Increasingly, too, is necessary in Internet travel sales, with the arrival of new competitors, starting with Google, which promises to shake up the industry with a brand new search engine for airline tickets.

Also new, the consumer, always on the lookout for bargains, it also has a growing tendency to move from one tour operator.

ALSO READ:

"

"

"