International News

Executives more optimistic about the market environment of the job, but more demanding in their career development and wages. These are the two main lessons of the seventh wave of the barometer Ifop / Cadremploi on the frames and the labor market, to be published tomorrow. For the first time since June 2008, executives are optimistic about the economic developments in employment (56% against 49% last December). Nearly three-quarters also have a positive opinion about their own jobs (72%).

This generally favorable decision must be relativized by two elements identified by the barometer Ifop / Cadremploi: a sense of degradation of working conditions and wage increases perceived as inadequate.And 54% of executives believe the work environment deteriorated and are as likely to be called "strained" relations with their superiors (43% against 29% who disagree). More importantly, 72% of executives still observe an increase in their workload and 69% said the emphasis on productivity increases.

Salaries disappointing

Hand wages, although the proportion of executives who received an increase earlier this year was up 5 points from December 2010 (39% against 34%), they are well below what they expected. 69% of managers have been increased, have been less than 4%. "There is a correlation between the increase seen in 2011 and the level of executive compensation," said the barometer Ifop / Cadremploi. Executives receiving more than 50 000 euros have seen their exceed 4% increase quick guaranteed personal loans.Moreover, nearly one in five executives saw their work is valued through missions or additional responsibilities or most interesting (17%) or by the granting of benefits in kind (16%) or by further consideration (15%) to compensate for the absence or the low pay increase.

Not surprising in these conditions that improved wages still awaiting the first frames: they are now 62% want to earn more, or three points since December 2010. This is the highest level since the first wave of the barometer in June 2008.

Cap on executive pay

To win better wages the French no longer hesitate to look elsewhere and to change employers. "Almost four in ten business (39%) are willing to change companies, an increase of 7 points in one year," said Cadremploi.Also 31% of respondents said "consider a change of occupation and / or business." What do they expect wage increases of mobility? "18% on average" …

Executives, who feel that their leaders do not quickly enough to loosen the purse strings, will also show severe levels of remuneration of top managers. They are in favor of a limitation of the latter, "more than one part in two (52%) say that leaders should receive an amount less than 250,000 euros" is the barometer Ifop / Cadremploi. Compensation deemed "acceptable" is averaging 386,641 euros.

ALSO READ:

"The executive pay rebound in 2011

General mobilization. In just one week the opening of the Salon International Air and Space in Le Bourget, the site was transformed into a gigantic construction site. Some 10,000 people are at work worth tens of trades. An endless stream of 10 000 trucks carries a broom incessant. In six months, "we are building the equivalent of a town of 20,000 inhabitants has the largest restaurant in France. This temporary city for seven days receives 350,000 visitors, "says Gilles Fournier, Director General of Fair which celebrates its 49th edition.

The countdown has begun a year before. The Association of French manufacturers of aerospace and space (Gifas) entrusts its commercial arm, SIAE with l5 permanent organization of the largest airshow in the world – which takes place every two years alternating with the Farnborough event UK.The marketing of 217,000 square meters of exhibition divided between 6 halls (54,000 square meters), cottages business (35 000 sq.m.) and surface static display of aircraft (130 000 sqm) is launched. The team grows in strength and currently has 2500 people.

In January, the entire exhibition space was sold, never seen by Gifas. Exhibition Place, built in 1953, was renovated with an investment of 15 million euros. Meanwhile, the ESIS gives the kickoff of the construction giant. It starts with a shuttle trailers between Le Bourget and Chalons-en-Champagne. This town of Marne welcomes its periphery warehouses rented by SIAE order to repair, maintain and store the 350 cottages. Once conveyed to Le Bourget, they are reassembled on site. Mid-May, the assembly of the equivalent of 2 km cottage is almost completed.

They are willing delivered "naked" to exhibitors who have previously chosen from among several options: with or without terrace, with or without garden, sliding glass doors or not … On average, renting a cottage costs 30 000 euros all related services: water, Wi-Fi, electricity, telecommunications … "The interior design, decoration, catering or direct services are the responsibility of the exhibitor," said Louis Le Portz, Commissioner General of the show. The layout of the chalets, exhibition halls and pavilions begin five to six weeks before June 20 The designers are at work. Tons of carpet, furniture, carpets, curtains, decorative items, tableware, vases, … refrigerators are delivered.

The temperature rises because the clock is ticking. The risks multiply.In conjunction with the Departmental Directorate of Labour, the organizers ensure that companies and their subcontractors comply with French law. No question of allowing Chinese workers to sleep on site and work at night! Checks are also made with security companies and cleaning. Meanwhile, SIAE is recruiting a thousand people. Among them, 500 guards who work day and night to monitor the site, about 400 hosts and 200 cleaners. With staff hired for the occasion by the exhibitors, "there are more than 4000 people are ready to welcome visitors, provide catering services, and keep the premises clean," says Gilles Fournier.

Solar Impulse, guest of honor

Today, the first aircraft entered the air show and exhibition ground will arrive at Le Bourget.Not easy to "park" 150 planes and 20 helicopters but all find their place assigned in advance. This year, large birds are exposed, including two Boeing B 747-8, world premiere, 1 B 787 Dreamliner and the Airbus A 400 M military

With 1.6 T, the Solar Impulse Bertrand Piccard is a featherweight. The experimental solar device is the guest of honor at the fair. The suspense remains, since a series of incidents have forced on Saturday to make a U-turn, while in flight to Le Bourget, and return to its point of departure for Brussels. Its designer, Bertrand Piccard, however, has not given up being present.

The latest up and the ultimate "dirty rag" will take place Sunday. The festival starts tomorrow. A party whose Paris region expects 500 million economic impact.

China is disappointed and all stock markets suffers. While the Middle Kingdom has unveiled a disappointing trade surplus in May, the S & P Asia fell back by 0.7% shortly before the close of the Tokyo Stock Exchange. The Nikkei, the benchmark index of the place in Tokyo, which gained 1.3% even in mid-session before the release of Chinese statistics, not put more than 0.6% to 9,522 points shortly before the close. The S & P ASX 200 Index Australian star, he has ended up slightly from 0.1% to 4553.90 points. Of the other major Asian markets, the red predominates. In Shanghai, the China Shanghai Composite fell back by 0.4% while the Hang Seng index in Hong Kong landmark, losing 0.7%, South Korea's Kospi dropped 0.5% and the Sensex Stock Exchange Mumbai was down 0.3%.

China's trade surplus in May released by China Customs reveals to be significantly below expectations.He came to 13.05 billion against $ 11.4 billion in April, but analysts were betting where, on average, about $ 18.6 billion. Chinese exports totaled last month in May reached a new record value of $ 157.16 billion, up 19.4% while imports reached 144.11 billion dollars, up 28 , 4%, according to the joint Customs. These figures were even more disappointed investors they contrast with those published in the United States. The trade deficit the U.S. has significantly reduced in April, falling to 43.7 billion dollars as a result of lower imports, according to figures released Thursday by the Commerce Department.

Moreover, the consequences of the nuclear disaster that followed the tsunami of 11 March the authorities continue to worry.Japanese Minister of Economy has warned Friday that the prolonged suspension of nuclear reactors beyond the areas affected by the tsunami of 11 March, notably in the west, could lead to electricity shortages and hamper recovery. "Energy production may fall, especially in western Japan" if utilities can not rely on their nuclear reactors, Banri Kaieda warned during a press conference, the agency Jiji.

The Bank of Korea raised its key rate

Also on the macroeconomic chapter, the Bank of Korea raised its key rate a quarter point to 3.25%, defying predictions of economists who expected a freeze for the third consecutive month.Seoul remains concerned about inflationary pressure continues to threaten the performance of the fourth largest economy in Asia.

As for values, the title of the Chinese bank Citic Securities fell back by 0.6% to 5.08 HK dollars after it bought 19.9% ​​stake in the trading business in Europe and Asia two subsidiaries of Crédit Agricole Cheuvreux and CLSA. The transaction, valued $ 374 million, confirms the global ambitions of Citic, and should help make Cheuvreux and CLSA a global leader specializing in research on the equity market.

Also, Takeda Pharmaceutical folds of 2.7% in Tokyo while France wants to remove two blockbusters dulaboratoire its market.

Hynix Semiconductor fell back by 4.7% while its shareholders that the group of semiconductors intend to transfer 15% of their participation, according to the Wall Street Journal.

While falling the first quantitative estimates on the losses caused by the bacterium E. coli (EHEC) on the French market garden industry, the doubts expressed Friday by Bruno Le Maire, who feared a "very negative impact" on the French production of vegetables, proved correct. So much so that the French Minister of Agriculture will visit Brussels on Monday to ask European authorities to release the compensation for French fruit and vegetables. That's what he said last night during a trip to Washington as part of the preparation of a G20 meeting.

The bill could climb quickly, especially if other European countries adopted the same position. Only in France, in a week, the losses for the chain of cucumber and tomato were almost 5 million.In Spain, they reach for the entire industry around 200 million euros, according to the Spanish Federation of Producers and exporters of fruits and vegetables (FEPEX), 75 million euros for the single chain of cucumber.

Germany will not pay

Ultimately, who pays for that damage? The issue remains unresolved, some arguing that Germany, by criminalizing the original Spanish cucumbers in the spread of the disease, is mainly responsible for the current situation and the financial losses suffered by producers. Since then, the vegetable has been exonerated, no evidence has been presented that is causing the infection. For some, Germany should pay the compensation sought. A scenario has completely rejected on Saturday a Reinhard Schäfers Europe, the German ambassador in France no fax payday advance."I can not imagine it will financially compensate," he said, justifying the information given by a need for transparency. "When we did, we had found something on some cucumbers Spanish. When you have information to one point, you must tell the public, "he added.

"We are victims of an epidemic," he said. That is what concerns us for now. There are mechanisms at European level to deal with it ", confirming the position of Bruno Le Maire.

Expected meeting June 17 in Luxembourg

In addition, the Minister recalled Friday absolute necessity "not to lower our guard for food safety," tackles and the attempts by some European countries to "re-nationalize agricultural policies."Having considered excessive embargo imposed by Russia on European imports of fresh vegetables (594 million euros in 2010), the Minister has however called for a "total safety" at the intra-European and its boundaries, based on traceability and controls. There remains the question of the cost of such tests. A question that Bruno Le Maire has not evaded, but without giving numerical estimates. This position closes, the minister should defend it on June 17. A meeting with his EU counterparts in Luxembourg should indeed be confirmed within 48 hours to study the responses to health crises, but also to improve their prevention.

ALSO READ:

In Europe, the epidemic spreads related to cucumbers

"Crisis of cucumber: 4.8 million loss in France

Announced in January, the IPO was expected Groupon. The figures that he has revealed in the record filed Thursday with the U.S. stock market authorities were much less. The website, which plans to raise $ 750 million in stock on a valuation estimated at between 15 and 20 billion dollars, in fact displays significant losses.

Created in November 2008 by Andrew Mason, a student of music, with one million dollars entrusted by entrepreneur Eric Lefkofsky, Groupon offers users to receive promotions from local businesses – florists, beauty salons … – provided that a specified number of Internet users subscribe to the offer. Over 83 million users have subscribed to the service. They were 1.8 million at end 2009. The turnover increased from 94,000 dollars in 2008 to 713,400,000 dollars in 2010.In 2011, revenues could exceed $ 2.4 billion. Growth driven by the acquisition of 13 companies, including Citydeal in Europe.

413 million loss

Groupon losses widen at a rate just as dramatically. In 2010, the net deficit of the site has reached 413 million dollars. For the first quarter of 2011, it already stands at nearly 114 million, says the briefing book. Abysmal losses that already raise doubts as to analysts who fear a new Internet bubble.Sucharita Mulpuru, e-commerce specialist at Forrester, and wondered how can one "lose so much money?" This is crazy with these numbers is that it should model extremely profitable, "he said The Wall Street Journal.

"Groupon has a very healthy business model, based on e-commerce, thus capable of generating cash," said Jonathan Besnaïou, co-founder of Oh My Deal, a site that aggregates and compares the offerings from its competitors and Groupon. "We must not forget that this is a service where the consumer pays first Groupon, which then pays the merchant on the one hand," he recalls.

If Groupon now displays such losses, it is because it invests heavily in customer acquisition – both businesses and users. The start-up business on account 3500 7000 employees worldwide.Considerable labor costs for a startup but can eventually turn into competitive advantage.

Another advantage of Groupon: the site has steadily expanded its offering – one coupon per day to more targeted deals, for example – to stick as closely to the needs of its users. His dedicated service to the mobile, Groupon Now, promises to be the next growth driver Groupon. Andrew Mason, the young CEO of the company, clearly displays the color in a statement of intent that reveals the very special culture Groupon: "As with any young company of 30 months, the road to success is strewn with pitfalls, punctuated moments of brilliance and sheer stupidity of others, "he wrote, convinced that" Groupon is better positioned than anyone to redefine the local business "and determined to focus on" a long term growth. "

Bibendum does not despair of one day impose a puncture-proof tire. After the failure of PAX, which allowed run flat, but had not convinced the manufacturers, Michelin expects to sell within three years for a tire which sets itself in the event of a puncture.

This innovation, introduced yesterday, is equipped with an inner membrane that comes to fill the holes if needed. The system is effective in cases of perforations of less than 6 millimeters in diameter, or 98% of the holes, according to the manufacturer payday loan lenders.

For manufacturers looking to lighten vehicles, this solution would "remove the spare tire." The group believes that a European driver die on average every 70,000 to 100,000 kilometers in China and India, this happens every 5000-6000 miles.

It is in six weeks from 1 July that the law on the reorganization of the electricity market is to take effect. In the coming days, the gazettal of orders on prices will end a long series of months.

In this folder to boost competition in the sector, there is more suspense since the government has established conditions for redemption of nuclear electricity from EDF for its rivals: it will be 40 euros per megawatt hour (MWh ) from 1 July and 42 euros from 1 January 2012. A scheme which largely corresponds to the aspirations of EDF: the company, below 42 euros, had discussed the scenario of "looting".In front, the other operators have defended the basis of 35 euros, which are calculated on the current regulated rates.

But now the Regulatory Commission (CRE), Constable of industry practices, offers a different vision, and especially more reasoned, that of government. These, indeed, have given their price scenarios, but without much explanation to the key.

In its decision of May 5 – Le Figaro has procured – the regulator first recall that to make a reasoned opinion on the draft decree, he had to "establish the identification method and cost accounting (…) to reflect the economic conditions of production of nuclear power history. " But this method of calculation, according to the resolution of the CRE leads to a price ranging from 36 to 39 euros per MWh.This estimate is below the repurchase rate set by the government.

Formally, the regulator therefore not permitted under the price of 42 euros per MWh. Certainly, he said that the government wants to anticipate "the investments needed to promoting safety in nuclear power plants," but "these costs are not known to date, and the CRE is not able to appreciate" .

The controller is not alone in discussing the figure of 42 euros. On Monday, the Supreme Council of Energy, which brings together all actors involved in this case, adopted an amendment deeming it inappropriate.This amendment has no impact on law enforcement, but it is indicative of the perception of the situation.

Audits of nuclear

Rather than this threshold of 42 euros, the CRE recommends "that the potential effects on production costs of measures undertaken audits on all French nuclear power are valued only as they materialize in the accounts of EDF and are then fully integrated into the regulated price of access to nuclear power history. "

Is it provided a negative opinion given to the law? In reality, it is rather a surveillance.The controller takes note of any additional expenditure on nuclear power in the wake of the disaster Fukushima, but even if the pass, he prefers to know the exact amounts to be allocated.

Remains to the European Commission, guardian of the reality of opening to competition, to address the issue. "It will certainly ask for accounts in the true sense of the term in government. Similarly, operators will be heard, said one observer. But do not expect a decision very quickly, given the time required. "The start of the new system will be thoroughly examined.

"It is expected that several clubs are among those most indebted, go bankrupt and disappear from the elite of professional football." The diagnosis of Bastien Drut, an economist and author of the book entitled "Economics of Professional Football" (Editions la Découverte) is final.

Boosted by inflation of television rights, the "football business" has squandered the wages of players who are sometimes more than 100% revenue clubs. "The crisis will deepen the focus on players' salaries," says Vincent Chaudel, communications director Europe, Africa and Middle East at Kurt Salmon, a consulting firm.The talented players should always receive high salaries and certainly on the rise, but the clubs whose financial situation is delicate, will probably choose between lowering the average wage standard of the players, and reduce the number of players on their team " .

Reduce payroll and income diversification

The presidents of the OL, Jean-Michel Aulas, and Om, Jean-Claude Dassier, ensured that a decline in TV rights would force them to reduce their wage bill even to sell some players. "I doubt that we are seeing a real reduction in payroll in the major French clubs, says Vincent Chaudel. As the French and European teams can not do without talent, they never cease to raise wages. "

The other challenge for football clubs will be to diversify their resources.Ligue 1 clubs are too dependent on television rights which average 57% of their income. In addition, Canal + has always said he would not raise its offer. French clubs and fear for their recipes. Vincent Chaudel advance a solution. "The choice of the French model where the clubs pay part of L1 (20%) of revenue from the sale of television rights to the clubs of L2, mechanical weakening their financial competitiveness with countries that have opposed sporting and financial models . Depending on the outcome of the next tender, the French football may be forced to revise its economic model based on solidarity. "

Other contracts naming to wait

Ligue 1 clubs are catching up especially in ticketing or sponsorship deals.While Germany has an average attendance this season every weekend more than 40,000 spectators, France does not even crossed the threshold of 20,000. Hence the importance of building new stadiums or renovate the current.

Following the partnership between the club Le Mans moving to the second division and the mutual insurance company, Mutual du Mans Assurances, naming other contracts (a contract between a sports club and a society that gives its name to the stadium) are also wait. The AXA Group is well positioned to give its name to the future Grand Stadium Lille for an annual amount of 3.3 million. And in an interview figaro.fr, president of Olympique Lyonnais, Jean-Michel Aulas had stated in talks with Qatari and Russian companies for naming the next speaker of Lyon.He also suggested the names of Danone and Coca-Cola.

ALSO READ:

"INTERVIEW -" Football French exchange business model '

"Lyon, France champion of … deficit

"More than half of European football clubs in deficit

The new prime minister, in power since last March, addresses the problem of unemployment, which remains the black spot in the Irish economy. Enda Kenny has presented on Wednesday a package of measures aimed at creating 100,000 jobs over four years.

The plan provides for reduced charges on low wages, a lower rate of VAT from 13.5% to 9% on some goods and services related to tourism to boost the sector and an increase in infrastructure spending for roads and schools. The government also wants to facilitate the upgrading of the unemployed through training programs.

Since 2008, hundreds of thousands of jobs have been destroyed under the impact of financial crisis, the bursting of the housing bubble, bank failures and austerity plans to repeat that the government had to place to contain soaring deficits and debt.In recent years, the unemployment rate has skyrocketed from 4% in 2007 to 14.7% today. The country is also facing an exodus of the population, especially young people, who try their luck in Canada or Australia. After the tutelage of the IMF and the EU, which granted in November a plan to help 85 billion euros in the country, the government faces a budget deficit of 32% of GDP, provides for a very narrow scope.

Rebound in exports

To finance this plan, Enda Kenny has decided to introduce a new tax – 0.6% – on pension funds, which should bring 470 million euros per year, totaling 1 instant credit report.9 billion euros . This has inevitably raised strong criticism in the profession. Growth side, the latest forecasts predict a return to the green this year, after three years of recession.The main institute in the situation, ESRI, reported Wednesday its forecast, anticipating a rise in GDP of 2% this year and 3% in 2012. A result that is nevertheless perspective, because this new dynamism "based entirely on exports," says ESRI report, given that domestic demand will fall further this year. Knowing that this rebound of external trade is linked to many multinationals operating in Ireland. Moreover, the GNP, which does not take into account their business will only grow 0.5% in 2011, according to ESRI.

Precisely for this reason that the Prime Minister does not intend to compromise with its European partners, who demand a higher rate, very attractive, the corporate tax (currently 12.5%) in exchange for a relaxation of the rescue plan negotiated by his predecessor, Brian Cowen."The Irish have made some overtures in that domain," says one good source, however, the French Ministry of Economy. Negotiations could therefore release in the coming weeks.

ALSO READ:

"Ireland is very close to losing his rank of reliable borrower

In the light of an early meeting smashing, with the Dow Jones up more than 1%, the NYSE closed modestly in the green Friday. The Dow Jone gained 0.43% to 12,638.81 points. The Nasdaq index of technology stocks has taken its share 0.46%, to 2827.56 points.

The mood on Wall Street's opening, driven by the release of employment figures better than expected, has been tarnished by rumors from the euro area. Greece had indeed threatened to leave the eurozone, according to the German magazine Der Spiegel, citing sources close to the German government. A ifnormation quickly rejected by the major European capitals and in Greece itself.

U.S. stocks have opened sharply into the green on Friday, strongly supported by the publication at 14.30 good employment figures for the month of April.The Dow Jones advanced 1.10%, to 12,723.12 points and the Nasdaq by 1.09% to 2845.48 points.

Thursday for the third straight session, Wall Street had ended in retreat, investors are unpleasantly surprised by the rise in weekly jobless claims. The fall in commodity prices had also weighed on Wall Street and on most stock exchanges. Asian markets were down this morning.

Oil, for his part ended in the red, a barrel of light sweet crude for June delivery touching down to 97.18 dollars. In one week, falling 15%. This is the largest decline in weekly percentage terms since the week 19 December 2008 when prices fell by 26.8%.

The commodity index had plunged by 5% Friday, its heaviest correction since the 2008 financial crisis and one of the largest in its history.This violent decline in oil and metals weighs heavily on many sectors like oil and steel or producers.

On the foreign exchange market, the acceleration surprise hiring in the U.S. and the turmoil associated mainly in the euro zone have precipitated the rise of the dollar. After passing during the session under $ 1.45, a first for 10 days, the euro traded at 1.4341 shortly before 22.30, down 1.37%.

Kraft Foods profit down

Values ​​to follow

Kraft Foods 2.91% to 34.36 dollars

No. 2 worldwide agribusiness has announced a profit of 799 million dollars in the first quarter, down from $ 1.8 billion last year. The benefit was then boosted by asset sales. Turnover was up 11% to $ 12.6 billion. Organic growth was 4.5%.For 2011, the Group expects organic growth of 4%, against 5% previously announced, and a total growth between 11 and 13%.

Sara Lee: +0.99% to 19.47 dollars

In the same sector, Sara Lee announced a quarterly profit of $ 153 million, against a loss of 336 million last year due to exceptional items. Turnover was up 6.8% to $ 2.22 billion below the $ 2.23 billion expected. Gross margin was down to 33.2% against 37.6%. The group has raised its selling price by 3% on average and anticipates further increases over the next 6 months.

Visa: 0.58%, to 79.16 dollars

Visa has announced his side a 23% increase in profits in the first quarter to 881 million.Net banking income of 2.2 billion, up 15%, driven by higher payments to international and a positive currency effect of 2%. The main uncertainty for the group focuses on the reform sought by the Fed on the fees charged on payments. The new law could reduce the turnover of the group between 11% and 15% and earnings per share of 20%. In addition, the group announced a new share repurchase program of $ 1 billion.

AIG: 1.36%, to 31.21 dollars

The insurance group has achieved for its first quarter 2011 net income of 269 million dollars against 1.8 billion a year earlier.However, the insurer posted a loss of $ 0.35 per share against earnings per share of $ 2.66 last year following the redemption of shares held by the U.S. Treasury for $ 385 million and the additional cost of 427 million related to the redemption of preference shares.

CF Industries: 5.28% to 136.07 dollars

CF Industries announced for first quarter 2011 net income of $ 282 million after a deficit of 4.4 million last year.

Fluor Corporation: 7.27%, to 70.49 dollars

Fluor Corporation completed the first quarter 2011 net income of $ 140 million against 137 million last year.

Microchip Technology: 1.04%, to 40.96 dollars

Microchip Technology has reported for the fourth quarter of 2010/2011 with a consolidated turnover of 380 million up 37% year on year and net income from continuing operations of $ 131 million, up 72% over the year.

Priceline.com: -1.02% to 528.59 dollars

Priceline.com posted a net profit in the first quarter of $ 137 million, up 57% over one year, earnings per share $ 2.66 $ 2.44 against the dollar and 1.7 expected last year .The turnover amounted to 809 million, an increase of 38.5% over one year.

Public Storage: 0.61%, to 24.80 dollars

Public Storage has announced a net profit in the first quarter of $ 148 million against $ 35 million a year earlier.

Sunoco: 3.44%, to 41.44 dollars

Sunoco recorded a deficit of 101 million dollars in the first quarter against a deficit of 63 million last year. The board of directors also declared a quarterly dividend of $ 0.15 per share.