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The PSG and Nike on the dock

admin — Wed, 17 Mar 2010 15:30:08 +0000

PSG back, this time on the judicial scene. Since last Monday, said the trial of "questionable transfers" opened at the Paris Correctional Court.

At the helm, Lawrence Perpère and Francis Graille, the presidents of the football club Paris at the time, the club itself, Nike France, two of its leaders and new players' agents, referred to "forgery and using false and unauthorized practice of the profession of players, like Richard Bettoni or Rako Stojic.No player is concerned, even if they could tax adjustments.

Between 1998 and 2003, the PSG players like Ali Bernabia or Ronaldinho would have received salary supplements that enabled PSG to pay less payroll and players less taxes, as magistrates pole of the Palais de Justice , Paris Renaud van Ruymbeke and Françoise Desset, who are investigating this issue since 2005.

Fictitiously inflating their role and responsibility, all 25 players involved have been inflating their commissions, and creating images contracts with Nike, they hit pay additional cash advance . These are the components of the charge.

The image rights dispute

The President, Quentin Chantal, the court stated that "some abuse of social good has been a non-place '.In other words, there was no personal enrichment.

On the image rights of players, Nike France says she bought them with consideration. But the president noted the "messages" which, for the prosecution proves the caratère fraudulent transactions between Nike and the PSG. "If it happened that the sponsorship contract is terminated, the PSG is committed to guarantee the payment of such sums," Francis Graille mentioned in a note.

This issue of image rights will be discussed on Tuesday and Wednesday. The trial is expected to end April 14. The three remaining weeks will be spent on transfers.

The defendants face up to three years imprisonment and 225,000 euros fine for corporations. PSG may also pay 5.8 million euros that could be claimed by Urssaf.

"France has no lesson to give"

admin — Mon, 15 Mar 2010 22:14:20 +0000

"Surprising." "Moved". "Not yet" … The reactions of economists and analysts to interview with the Financial Times by Christine Lagarde is unanimous. The Minister of Economy French expressed doubts about the durability of a German model which penalizes it believes other European countries.

While Germany has deliberately chosen to stake everything on offer to boost its exports at the expense of domestic demand and of exports and other European countries, "it's still hard to criticize a countries, which introduced considerable reforms over the past ten years and whose discipline enables him to get away well, "said Marc Touati, economist at Global Equities.

France has no lesson to give Germany, and especially could receive, say analysts."It's fun for a country that lacks the courage to take the steps it must take to address a friend and partner, accusing him of being just too good student," quipped Marc Fiorentino, Euroland Finance.

"The remarks by Christine Lagarde is a form of displaced unmanageable," according to Marc Touati, that reservation, however, about the conditions of the interview and the return of his remarks.

Christine Lagarde Where does she come?

"I'm not sure that the German model based on the downward pressure on labor costs is sustainable over the long term," said Christine Lagarde, criticizing the trade surplus in Germany. She called Berlin to develop its domestic demand for the good of all Europe.

For Olivier Bizimina economist at Credit Agricole, these remarks are not really the place to be."There is a structural difference between Germany and France: the German household consumes less than the French household," says he. The Germans, when they have more money, save more and invest more. The French consume.

Moreover, the criticism of the Minister does not seem justified in the sense that "it's not as if there had been a competitive devaluation," he said payday loans no teletrack . Germany as France, have in effect the same currency: the euro.

A very contrasting Europe

Christine Lagarde continues to advocate solidarity and convergence between European countries, when Germany chose to focus on its competitiveness and displays its austerity facing European countries in difficulty.In other words, Marc Fiorentino, France asked the European harmony, but that will take place in Germany drawing down "to less jealous, rather than setting goals to the height its neighbor. A vision he considers "pitiful."

The meeting on Monday afternoon, the finance ministers of the euro area in Brussels on aid to Greece, following the joint conference between Gordon Brown and Nicolas Sarkozy in London promises to be stormy. The Franco-German tensions would be increasingly felt, according to some analysts, and contrast with the cordial political relations displayed by Nicolas Sarkozy and Angela Merkel with the media.

SOS eurozone

In a crisis, while Europe is expected to weld, "such criticism" has no meaning and could "put in pole position the idea of an ever more diverse," says Marc Touati .It is time the European harmony, reflection on a European "with clear rules for all countries with a federal …», continues bubget economist. Otherwise, "in 2020, the euro area has disappeared.

Marc Fiorentino, in an editorial on BFM radio this morning, has sanctioned the remarks of Minister of Economy of the verdict without appeal: "It is time that we have a cabinet reshuffle. It speaks of Christine Lagarde Foreign Affairs. This is good news, "he quipped.

Pole employment: some claims for radiation

admin — Sat, 13 Mar 2010 03:22:26 +0000

Even accused in a recent book – Confessions of a mole in center employment, published by Calmann-Levy – are "a machine radierles unemployed, public service employment has responded Friday in releasing the first report Activity of the Ombudsman. "The radiation concern only a few referrals," says Benedict Genuini, the incumbent created in early 2009 which estimated that "only 5%" of cases before it. "This finding contradicts the prejudice of radiation arbitrary or deliberate systematic, says former chairman of Accenture France. And it confirms that the majority of individual are determined at the first level of claims or the merits of radiation is not challenged by their recipients. "

Half of the records which go back on compensation issues related to entitlement to unemployment insurance and calculating the amount."The fusion ANPE-Assedic seems to have redirected the claims that were previously more diluted in the network, or processed by the sites," said Benedict Genuini. A significant proportion (13%) are also aids in recruitment, particularly relating to geographic mobility for the resumption of work away.

Six proposals "modest"

In the last quarter of 2009, the Ombudsman received 4103 cases, with a monthly average of 1368 lifts. "Nearly 550,000 registration records are moved each month by employment center, said the mediator guaranteed unsecured personal loan . The tradeoffs associated with these movements generate about 40,000 claims monthly. "Yet less than 4% back to Benedict Genuini.A given place "in the column of good news," he said.

Referrals receivable (after initial review by agency and outside letters of moods and information requests) represent 40% of the total. "The majority of cases teaches that this is not the regulation is at issue, but the application is made," says Benedict Genuini. More than half are successful conclusion, total or partial, and only 30% are rejected. "These are cases where it is not possible fairly to respond positively," justifies the center Employment Mediator, who want to provide added "particular care" to explain the rejection.

In conclusion, Benedict Genuini made six proposals "modest" to Christian Charpy, the CEO of Pole employment. "Their adoption would be likely to facilitate the relationship between employment center and its users," he warns.The mediator's suggestions include better write the letters sent to the unemployed in order to avoid certain formulations computer "predefined and disrespectful." As example of being informed of a request for reimbursement of an overpayment of compensation on the basis of a … "no reason".

The Chinese inflation is accelerating, but remains under control

admin — Thu, 11 Mar 2010 14:10:32 +0000

The Chinese inflation seems under control. The index of consumer prices continued to rise in February to 2.7% but remains below the 3% limit set by the government. This figure was drawn by the waltz of the labels of food products due to appalling weather conditions and to celebrate the Lunar New Year.

The Chinese authorities remain confident. "We believe that rising prices will remain moderate and controllable. So we must stabilize inflation expectations, "said a spokesman for the National Bureau of Statistics (NBS).

The owner of the Banking Regulatory Commission, Liu Mingkang, displays the same serenity: "Do not worry about inflation.The index of consumer prices and the index of producer prices could increase slightly "in view of the process" complicated "global economic recovery," but only moderate inflation is unlikely.

Still, the resumption of exports has caused a jump in industrial production by 20.7% over the first two months of the year. Investments in fixed assets (buildings, factories, equipment, …) it has boomed by 26.6% over the same period. Domestic demand is no exception, retail sales rose by 17.9% yoy in January-February.

Still, "we do not believe the inflation risk," wrote in a note Xu Bei, economist at Natixis. She recalls that the figures are distorted by a base effect, the statistics of early 2009 was very low because of the crisis."By comparing the price index of the beginning of this year compared to 2008, the price increase is only 1%."

The government, on the other hand, already started to tighten monetary policy to prevent a runaway economy and prices. It set to 7.500 billion yuan (800 billion euros) the level of loans does not exceed by banks in 2010, against 9590 billion yuan last year. The effect would be felt in February: Chinese institutions have issued 700.1 billion yuan this month, almost two times less than in January (1.390 billion yuan).

Nuclear: Sarkozy calls for cooperation

admin — Tue, 09 Mar 2010 12:43:01 +0000

The civilian nuclear should not be restricted to a few. Opening Friday – at OECD headquarters in Paris – the international conference on nuclear Nicolas Sarkozy immediately insisted on the principle of cooperation. "France believes that the share of nuclear power for peaceful purposes is a decisive factor for compliance with environmental concerns and a better distribution of wealth in the world," explained the president.

A clear signal at a time when some sixty countries intend to establish one or more reactors to produce electricity.Except that such a machine is expensive – more than 5 billion euros for example, the EPR (the prototype third generation being built by EDF and Areva) – and it requires highly skilled personnel to make function.

Specifically, Nicolas Sarkozy called on Monday in Paris that the financing of major international institutions can benefit new entrants in the atom. "I do not understand and I do not accept ostracism of nuclear power (…), the current situation is tantamount to condemning the country to an energy more expensive and polluting, has hammered the tenant of the Elysee.

Regarding the development of skills, Nicolas Sarkozy announced the creation in France of an International Training Institute. It will house a "school of international nuclear" as part of an "international network of centers of excellence".An initial implementation has already been decided: it will be in Jordan, a country with which France has signed a nuclear cooperation agreement.

Pathway lights

Overall, the intervention of Nicolas Sarkozy should be read in light of the ambitions of the French sector, which is developed contacts with many countries – in addition to firm orders – to sell the EPR. A chain but seriously mistreated in Abu Dhabi where the lights consortium (consisting of EDF, GDF Suez, Areva and Total) has been outflanked by South Korea.

Monday, referring implicitly to this failure, the president regretted that the market does not classify reactors that according to the price criterion. But the EPR is significantly more expensive than most other models with which it is directly in competition.It should therefore, according to Nicolas Sarkozy, that the International Atomic Energy Agency (IAEA) establish a classification "as the criterion of safety."

Sarkozy, the eternal opponent "a France without factories"

admin — Sat, 06 Mar 2010 13:10:55 +0000

Alstom! President Nicolas Sarkozy will never tire of telling Sarkozy the Minister of Finance in 2004. Whoever saved Alstom decommissioning by the German Siemens. He never ceased to recall this episode, during countless visits to factories. It is true that the rescue of Alstom was the founding act of Sarkozy statist. Finally, more along the lines of Napoleon III and Saint-Simonian as laissez-faire and ultraliberalism which accused his opponents.

During the 2007 campaign, the candidate Sarkozy has never released this theme. He was seen walking the plant “more than all the candidates from left, like he repeats, in criticizing the years Jospin, when the Socialists attempted to explain that” the State can not do everything ” . This direct contact, rough, with workers in their production sites became “the” visual signature of the candidate in 2007, and the new president.

So much for the rhetoric and symbols. Regarding acts, the Elysee said that the States General of the industry are a step in a long list of initiatives that have already been implemented. Since four billion research tax credit (CIR) voted in 2007, affecting 80% industry, until the reform of business tax – offset by the Parliament – through the great debt, and creation of a Strategic Investment Fund (ISF), excluding the merger of GDF with Suez. Sarkozy believes that it has twice as hard on the industry since his election. And if the results are awaited crisis requires, the Elysee said that “for the first time, the market share of French exporters in the euro area began to recover after more than ten years of decline” payday advance lenders .

This intervention, he claims, is intended to continue and even increase. Because, says the head of state is what the public expects of him. The closure of the plant Gandrange folder in which he pledged personally, was not well received, even if the workers have been reclassified. Result, he does not hesitate to push his Minister of Industry, Christian Estrosi, nothing to loose on sensitive issues such as Molex, Heuliez or Philips. A few days ago, he also lobbied for Christophe de Margerie as Total – a group 100% private – do not touch its French refineries, but overcapacity.

The new milestone was reached Thursday: the reorganization of the state shareholder. More questions to leave as much freedom as before to companies in which the state has an interest.In announcing that henceforth, a representative of the Ministry of Industry or ministry will be named “systematically” the board – next to the administrator of the Agency for State Participation (EPA) — the message is clear: the state will no longer have eyes only on its financial business, he also wants a say on strategy. The Elysee said that this concerns mainly La Poste, France Telecom and Renault …. What could prevent future, Carlos Ghosn is urgently summoned to the Elysee when the guidelines that the CEO wants to take his automotive group is not to the liking of its largest shareholder …

Tidjane bursts "glass ceiling"

admin — Fri, 05 Mar 2010 11:26:56 +0000

"I am black, French and I measure 1.93 meters. Here's how Tidjane describes himself himself a headhunter British came to offer him a position with Aviva in 2002. This polytechnician Franco-Ivorian then 40 years and worked for international consulting firm McKinsey study. Yet he prefers to prevent the caller who asked him to go to an interview for a position at the first insurer in the United Kingdom.

At that time, Tidjane was scalded by all its difficulties in finding a position to match its ambitions in France. However, his resume is not supposed to let recruiters indifferent. Born into a family of Côte d'Ivoire, son of former Ivorian Minister of Information and an illiterate mother until his thirty years Tidjane joined the cream of French schools in a faultless display.After preparatory classes, he pocketed his diploma from the Ecole Polytechnique in 1984 and parade on the Champs Elysees on July 14. He also wins a civil engineering degree Mines de Paris is a major promotion in 1986. The same year he completed this course with an MBA at Insead.

The fight against the discrimination he experienced in France became one of his fights. In a text entitled "What does being French," written for the think-tank "Institut Montaigne," the man tells her "frustration" when one of her classmates became hunter head told him to have his name struck off the list "because the answer was invariably: profile interesting and impressive, but you understand … '. He said he tired of constantly hitting the "glass ceiling" image means economic difficulties of a class of person to get to a position of responsibility.Term frequently used for women.

Parenthesis policy

Before the episode Aviva Tidjane fled discrimination in the economic world to take refuge in politics. With again, an extraordinary journey. After his degree, he took a sabbatical to attend the Young Professionals Program of the World Bank. A training program designed to attract the best young talent around the world. In 1994, he accepted a post as head of the National Bureau of Technical Studies and Development of the new President of Côte d'Ivoire, Henri Konan Bédié, he proposes. It will occupy until the coup of December 1999.

In August 1998, he became Minister of Planning and Development of his homeland. That same year he was selected among the "100 most promising leaders of tomorrow 'Forum in Davos (Young Global Leaders of Tomorrow).He was elected member of Dream Cabinet in 1999 and the Consultative Council of the Institute of the World Bank. With his little glasses and his smile, Tidjane convincing as Tony Blair. The British prime minister at the time chose to be a member of his Commission for Africa.

Back to Economics

In 2002, Tidjane closes the parenthesis policy by accepting a position with Aviva as director of strategy and development. He opts for the Great Britain said that "very tolerant and very open." Ambitious, Tidjane quickly climbed the ranks to become CEO of the biggest insurer in Britain. So when he decided to "downgrade" to the position of CFO at the competitor Prudential in September 2007, the new surprises. "This is not common.It almost never happens except when the directors of the divisions run much smaller, "says Gavin Hinks, British journalist. "Tidjane is obviously a very talented and ambitious. This is clearly someone who is being tipped for the top and should not remain very long time CFO.

The reporter was right. In October 2009, Tidjane becomes CEO of Prudential. He became the first passage to black to head a multinational FTSE 100. The City is also in love. So much so that she heartily applauded his promotion.

Today, the strategic choices of the Ecole Polytechnique are unanimously. The latest to Asia is no exception to the rule. Five months after his arrival at the head of Prudential, the group set out to conquer the biggest emerging market in the world.When Tidjane formalized the acquisition of Asian operations of AIG by a transaction colossal $ 35.5 billion, the news has excited all the financial centers of the United States to Asia via Europe. Incidentally, Prudential has also returned to profit in 2009, with a net profit of 676 million pounds (about 755 million euros) over the past year, against a loss of 396 million pounds (493 million euros ) a year earlier.

Gemalto will pay its first dividend

admin — Thu, 04 Mar 2010 08:23:42 +0000

The manufacturer Gemalto smart cards issued Thursday its results for the year in france 2009. The turnover declined by 1.5%, reaching 1.654 billion euros. The net lost 3.27% on a year to 148 million euros. For the first time in its history, the company will pay its first dividend, to 25 cents per share.

The group's operating income amounted to 171 million euros (1.18%), although it is cut by 11 million euros. Indeed Gemalto had to make provision for this sum to settle a malfunction on smart cards in Germany.

During Gemalto has accelerated its growth in external spending 74 million euros for six acquisitions, including a company specializing in mobile electronic signature cashadvance .

Outlook 2010

In 2010, the priority is "growth through the active promotion of our expanded portfolio of products and broader distribution of our range of software and services to our customers, to increase our operating income towards the goal we set ourselves an operating result of 300 million euros in 2013, "the group said in a statement.

Squeaking in mechanical engineering

admin — Wed, 10 Feb 2010 13:28:19 +0000

Dependent on business investment, the French machinery industry has experienced a particularly gloomy year 2009. The turnover of this sector has plunged 15% to 97.9 billion euros, returning to its 2005 level.

Compared to its European competitors, French industry is doing rather well. "The activity of other countries fell by an average of 19%," said Yvon Jacob, president of the Federation of Engineering Industries (FIM). The French exception is explained in part by the support that was received by French manufacturers.

The recovery plans, the state aid measures such as scrapping bonus, or the continuation of regional investment activities have supported activity. The role of the state does not explain everything. Companies based in France have taken advantage of the health of certain sectors such as construction, aerospace, energy and railway industries."Moreover, thanks to social shocks, household consumption remained at a good level," says Yvon Jacob. The social situation remains tense engineering industries (650,000 jobs) lost 5.5% of their workforce in 2009. The FIM also fears of new staff reductions, and does not expect improvement until the end of the year. The activity should indeed be further reduced by 5% this year. "If the recovery occurs in 2010, it does not benefit us immediately, says the president of the Federation, as investments leave last.

The CAC 40 revives gains

admin — Mon, 08 Feb 2010 20:56:33 +0000

After the sharp market downturn in Paris last weekend, with the Cac 40 lost nearly 7% in 48 hours, optimism is in order at the beginning of the week in the Paris Bourse. Around 10:30 am, the CAC 40 is up over 1.2% to 3607 points.

On the macroeconomic front, gross domestic product (GDP) of France is expected to grow by 0.5% in first quarter 2010, according to a first estimate of the Banque de France (BdF) on Monday.

The latest forecast from the National Institute of Statistics (INSEE) published December 17, the economic recovery in France will be confirmed in early 2010 but will be "laborious and delicate, with a growth of around 0.3 % to 0.4% per quarter until midyear.

The government recently revised upward its growth forecast for this year, rose 0.75% to 1.4% in the revised budget.

INSEE has published Friday its first figures on French growth in the last quarter of 2009.The government forecasts a GDP drop of 2.25% over the last year.

As for values, the revival of this earlier this week arises: half a dozen values were lower at the opening.

Dexia climbed after strong green light from Brussels

The year 2010 will be tougher than 2009 for the Franco-Belgian bank Dexia (6.56% to 4.29 euros) due to the acceleration of the implementation of its restructuring plan which has received the green light with Brussels, said Sunday the group's managing director.

EDF (+1.54% at 38.20 euros) and Areva (0.45% to 313.75 euros) announced late Friday it reached an agreement on the processing of uranium used in nuclear power plants of 'electrician question at the heart of a dispute between the two groups for several weeks payday advance online .The CEO of EADS (+0.04% at 14.11 euros), Louis Welsh said in Munich last Saturday he expected a "clarification" on the financing of additional costs for the Airbus A400M military "before the end of next week. "

GDF Suez (+1.05% at 26.50 euros) could revise its bid for International Power Plc, particularly the terms of its offer in cash, reports the Independent on Sunday, citing sources close to the French group.

The Autorité des marchés financiers (AMF) has asked for new commitments to Bélvédère (-5.28% to 34.07 euros) in the case of warrants, which in recent weeks between the group of spirits Association Defense of Minority Shareholders (ADAM).

Bongrain (-1.68% to 55.53 euros) has reported a turnover down 7.4% on a comparable basis in 2009, affected by unfavorable economic environment.

Eiffage (+0.68% at 36.42 euros) was able to stabilize its sales in 2009 thanks to a rebound in activity in the fourth quarter.

Several publications of companies are expected on Monday: Altran Technologies (-1.18% to 4.20 euros) pre-market Unibail Rodamco (-0.80% to 155 euros) after-hours trading, Le Noble Age (-1, 72% to 15.40 euros) and Devoteam (stable at 18.50 euros). Faurecia brings an extraordinary general meeting regarding the capital increase related to the repurchase of Emcon.