World News – International Headlines, Stories

The Koreans have a sense of honor, particularly advanced. The boss of Kia Motors, Chung Sung-eun, has resigned after the manufacturer, the country's second largest behind Hyundai's ally, was forced to announce, between Monday and Tuesday the recall of more than 100,000 models worldwide for problems electrical circuit. The four models are concerned the Soul, the Sorento, the Borrego and Cadenza.

In reality, this reminder, in addition to that, in June, to 56,000 vehicles (produced in Slovakia) for a potential defect in the braking system, seems to have been one too many for the group chairman, Chung Mong-koo, the son of the founder of Hyundai. It was he who had fired Chung Sung-eun, also vice-chairman of Hyundai-Kia, according to the Korean press.

The quality, workhorse of the group

This reaction may seem excessive.Reminders of this magnitude are indeed common in the automotive industry. Generally, they do not impose sanctions on the head of companies. The most striking example is the Japanese automaker Toyota, which has not changed leadership after recalling more than 10 million cars since last fall to technical faults, which has plunged into the worst crisis serious in its history. The world, however, completely revised its processes for quality control.

The intransigence of Hyundai-Kia is explained by the fact that the fifth largest world has made improving the quality of its flagship since the early 2000s. Thanks to the huge sums invested, it now ranks among the best in this field.In recent years, the group, who dreams of becoming world number three in 2012, before passing the result Toyota has further intensified its efforts to provide a high quality image.

Since its quality problems have knocked off its pedestal Toyota – long the standard in the field – Hyundai and Kia are looking to snatch back market share from their rival Nippon highlighting the reliability of their models. In the second quarter of this year, Kia has posted a net profit up 61% YoY thanks to good sales and the success of its new models. This explains the desire of Hyundai-Kia to hit hard after the latest recall, although their scope is limited, probably to make it a symbol of his attention to quality.

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Burst in full interim results conference's media group Lagardere. The upscale women's weekly group, Be, merged with rival Envy, edited by Marie Claire group. The information was soon confirmed by the two groups. The announcement should be made official Friday morning after a conference call with two editors. "The proposed merger of two weekly was presented yesterday to the works of two groups, we stated Thursday night from a reliable source.

This approximation Express is surprising. It is the newest upscale women's magazines, Be was launched with great fanfare and publicity to great fanfare last March 19 by Lagardère Active. Positioned as a "new global media brand" (based on a website, TV and radio), Be was unable to stabilize its sales.After a promising start when the title flirts with 230,000 copies sold (OJD, dissemination France paid) Be seen its circulation fall to 171,397 copies in late June Disappointing sales, however, have nothing catastrophic, especially as Lagardère Active has entrusted to bet on a "target distribution of 160,000 copies.

The day before the first anniversary of Grazia

For its part, Envy wipes the same side. Its circulation is over 240,000 copies in February, when launched, but quickly runs out of steam until barely exceed 160,000 copies (OJD) in June … For the group Marie Claire, this result is particularly disappointing . The group had much hesitation and refine its launch for many months before jumping into the water.To minimize risks, the group had even appealed last year to Jean-Paul Lubot, the designer of Closer magazine, the origin of this new segment of the fashion magazine combining fashion and celebrity news.

Today, the merger has any marriage of convenience between two groups who know each other well. Lagardère owns 42% stake in Marie Claire, a group whose participation chaired Arnaud Lagardere wants precisely to separate. Competitors as vendors release, Lagardere Active and Marie Claire have, it seems, have even more incentive to join together to confront the supremacy, particularly in terms of advertising revenue, the third competitor in this sector, weekly Grazia published by Mondadori France sells 179,704 copies (OJD). Irony of the calendar, Lagardere Active and Marie Claire agreed to before the first anniversary of Grazia.

At a time when the government prepares raising the legal age of retirement, he has surprisingly little publicity to these statistics, however, encouraging. The employment rate of 55-64 age group reached 38.9% in 2009 against 38.2% last year and 37% in 2003, according Studies Branch of the Ministries of Economy and Labour (DARES ).

The trend is especially notable is that despite an unfavorable demographic developments: the employment rate falls to 60 years, yet the 'sixties youth "are more numerous since 2005 as' s acts of war on people born after full-baby boom. By neutralizing this "structure effect", the employment rate of older workers has also increased by almost 5 percentage points since 2003.

However, unemployment was 50 years and older flies.Between March 2009 and March 2010, it jumped by 21.2%, after rising 16.7% the previous twelve months, said the panel of Dares. In fact, the number of seniors looking for employment and the number of seniors who work progressing both. In the first case, for cyclical reasons that should improve. The crisis, plus the gradual end to the exemption from seeking employment, given until 2008 to unemployed persons over 57 years and half is in effect passed by.

Effective retirement age for retirement of 61 years and a half

And in the second case, for deeper reasons. Women are more likely to work. The reforms of 1993 and 2003 from 37 ½ to 40 years the contribution period for a full pension in the private and the public.The effects of the device "long career" – awarded in 2003 to those who have started working very young, fade, because the generations born since 1953 have been affected by compulsory schooling to 16 years.

According to the National Insurance Old-Age, 30 218 nationals of the general system and have retired before age 60 in 2009, against 100,000 to 126,000 per year in previous years. Ultimately, the effective retirement age from 61 years to 61 ½ years for pensioners to live right (that is to say outside widowers). A second consecutive year of breaking up a downward trend in virtually stopped since the early 1970s when the average neared 64.

France remains still lags behind its neighbors: the employment rate of older workers of 27 countries of the European Union is 46%.The majority sees this as an argument for the legal age of retirement, arguing that it is possible to retire at age 60 which explains the low employment rate of 60-64 years. Opponents of the reform them, believe that we must first improve the employment of older before trying to make them work longer.

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Growth "Asian" in the German economy would it an exception in a darkening global economic outlook? If the recovery is underway in Germany at rates higher than expected, also signs of fragility are multiplying on the front of the economy, and the unlikely scenario a few weeks ago a "double dip" – in the new dive recession – until now reserved for a few pessimists, is no longer excluded.

The warning came Tuesday from the Bank of England (BoE). "I think it would be unwise to say that this risk does not exist", said in an interview to The Times Martin Weale, who joined in July, the Monetary Policy Committee of the Central Bank. Martin Weale has raised the risk of rising unemployment, lower housing prices and a new crisis in the banking sector."There could be a sovereign debt crisis or it could be a new crisis of liquidity in the private sector," he said. The economist also said that the BoE's forecast, which assumes 2.8% growth in 2011 in England and 3.2% in 2011, could prove too optimistic.

U.S. housing decline

His remarks have increased the nervousness of the markets, which were significantly Tuesday on the downside. The poor performance of the U.S. housing sector that is highly sensitive for triggering the financial crisis and global recession, have added to tensions.Sales of existing homes, which represent between 90 and 95% of the market in July has been an unprecedented fall of 27.2%, falling to their lowest level since 1995, according to data from the National Association of Realtors (NAR).

The market suffers from April to the end of the tax credit on buying a first home. Shortly before the publication of these statistics, the chairman of the Federal Reserve Bank of Chicago, Charles Evans, acknowledged that the risk of relapse was increased in the last six months but said "it is not the end most probable. " He expressed concern at the continued strength of the recovery, even though the second estimate of GDP in the second quarter, due Friday, should be revised sharply downward to 1.4% against 2.4%.

In Europe, the wave of rigor that will weigh on the recovery. Even rating agencies are worried.Having sanctioned the debt spiral States, first of Pigs (Portugal, Italy, Ireland, Greece and Spain), which has led most states to adopt austerity plans, a study by Moody's published before yesterday stressed the risk posed by these savings measures on growth in the short term and the rating states. These concerns about growth in Europe have prompted the agency to lower its rating on Greece, Portugal, Spain, Ireland and outside the euro area, on Hungary. "We carefully monitor the ways chosen by governments and their potential to generate growth," says the agency remains confident that the marking of France, Germany and Great Britain, even though these notes have weakened since the crisis.

LOS ANGELES Stars of pop music without panties, warriors of the night, and vampires sexy spiced sauce fame last year with the arrival of Lady Gaga, Conan O'Brien, Kirsten Stewart and Robert Pattinson – Superstars Twilight – the first in the Forbes Celebrity 100 list.

But despite their impressive debut (Gaga landed in fourth place in the list), is Oprah Winfrey is the winner of the year. After being supplanted by Angelina Jolie last year (Jolie finds himself in the 18th rank this year) and the Queen of the media takes the crown in the annual Forbes list of global super-celebrities. Winfrey earned $ 315 million over the last 12 months.

The moderator of televised debates had tears in his eyes when it announced that this season would be the last debate.This news has helped our self-made billionaire to get more mentions in the press than any other member of the Celebrity 100 list. Winfrey owes much to his show, The Oprah Winfrey Show and her magazine, her website is closely followed, his radio, his television shows and movies like Precious, who received six Oscar nominations. For the future, her Harpo production company, which launched the careers of Dr. Phil, Rachael Ray and Dr. Oz, will this fall Nate Berkus, a former decorator become moderator of debate.

A few months later, our lady launch Oprah Winfrey Network, a channel on the theme of lifestyle, in partnership with Discovery Communications (DISCA – news – people).

The remaining top

Beyonce Knowles win two seats to finish second in the list, with $ 87 million in annual revenue.His world tour of over 90 concerts has collected more than 85 million dollars to blow up a portfolio that combines album sales, fashion line House of Dereon and a range of promotional contracts ranging from Nintendo (NTDOY.PK – news – people) in L'Oreal. Beyonce, the female half of the couple's most powerful nation in the world hip-hop, has continued to expand his business empire beyond the music with the launch of its first fragrance, Heat, a few months ago.

Third position: director James Cameron. With the success at the box office of Avatar, the man who proclaimed himself "king of the world" has pocketed the tidy sum of 210 million dollars this year. Although his film in 3D has failed to win the Oscar for best film, he beat own record of Cameron cashing $ 2.7 billion at the box office to become the film that made the biggest revenue the history of cinema.(Titanic occupied this place for 12 years, with 1.8 billion dollars.) While the Blu-ray edition of Avatar's record-breaking sales and an expected result is, Cameron will certainly continue to be included in our list for several years.

Revenue increase

In response to market fluctuations and a global economy that appears reluctant to leave, the income figures contained in our Celebrity 100 list demonstrate a remarkable resistance.The stars of our list have in fact collectively won $ 4.7 billion this year, compared to 4.1 billion last year.

The Celebrity 100 list that includes movie stars and television personalities from television, models, athletes, authors, musicians and comedians, as revenues related to entertainment and media exposure (presence in press, television, radio and online). Given the growing power of social networks, we have added a rating of "social media" that reflects the presence of each celebrity on Facebook and Twitter. The income considered is the income before taxes between 1 June 2009 and June 1, 2010.Management fees, agents and attorneys have not been deducted.

Great start for Gaga

Lady Gaga was catapulted on our list, ahead of pop music stars like Madonna much more established (10th) and U2 (seventh). It has revenues estimated at $ 62 million to a global tour of 106 concerts and his willingness to partner with companies such as Virgin Mobile and Polaroid No teletrack payday loans. Not to mention that his fame and his theatrics earned him an enormous press coverage while his music videos are feeling on the Internet.Proof: This completes the first rocker visionary for social media and Internet presence in the Forbes Celebrity 100 100

Gaga is also the highest ranked newcomer on the list, leading a group that includes the Black Eyed Peas (48 million), O'Brien (38 million) and Robert Pattinson – Stewart, of co-stars Twilight. Pattison finishes at the fiftieth come up with an estimated 17 million dollars, but Stewart, who works on fewer projects outside of Twilight, placed 66th with 12 million dollars.

Woods is good for the moment

And to complete the top five: the golfer Tiger Woods.Despite his personal and professional setbacks this year (all the negative publicity has been removed from the list this year), the big target of sensationalist newspapers has still managed to earn $ 105 million between June 2009 and June 21010. Fact: The sources of income have declined since the scandals in his name (Accenture (CAN – news – people), AT & T (T – news – people) and the Pepsi (PEP – news – people) have abandoned Woods as spokesman), but he still pocketed millions from his contracts with Nike (NKE – news – people), Electronic Arts (ERTS – news – people) and Upper Deck.It is worth mentioning that the activity of designing golf courses has difficulties because of the global economic crisis.

His image tarnished should nevertheless result in a significant drop in the rankings next year.

Goodbye Smith

Celebrities and their revenues, which depend on new contracts and fans capricious, fluctuate widely from year to year. Among the victims this year we have Will Smith. After finishing 11th in the list last year with 45 million dollars, king of blockbuster films does not even ranked this year as he has not made any new film during the period analyzed.

Another notable absentee this year is rapper 50 Cent. In 2009, he was impressive 50th with revenues of $ 20 million.But his latest album, Before I Self Destruct, has sold only 500,000 copies and remained quiet as he lost 25% of its weight for the role of a cancer in a film that will be out soon, Things Fall Apart.

A few words on methodology

The Celebrity 100 list as the power on the basis of money and fame. Revenue estimates, which include revenues from movies and television shows, endorsement deals, books and other entertainment projects have been made for the period between June 2009 and June 2010. Figures have been rounded where appropriate. We also used other sources such as Billboard, Pollstar, Adams Media Research, The Nielsen Company and SNL Kagan.Celebrity is calculated using the number of results from Google (GOOG – news – people) Blog Search, the number of entries to television / radio LexisNexis, overall indications in the press on Factiva and the number of times the picture a celebrity appears on the cover of 25 consumer magazines. The social classification is calculated using measures such as the number of friends and fans on Facebook, and the number of followers on Twitter.

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Demoralized. Wall Street erased its gains after a timid opening up (+0.16%). Around 4:40 p.m., the Dow Jones lost 0.75% to 10,339 points, the Nasdaq was down 0.75% to 2291 points while the S & P anbandonne 0.71% to 1107 points.

The markets were disappointed by the number of entries in the weekly unemployment rose in the United States during the week to June 12, at 472 000 460 000 cons last week, according to the Labor Department. Economists on average had 450 000 registered unemployed. The entries of the week to June 5 were also revised up from an initial estimate of 456,000.

In addition, consumer prices have suffered their worst fall in May last year and a half under the blow of sharp decline in energy costs. The index of consumer prices adjusted for seasonal variations show a decline of 0.2%, the biggest drop since December 2008.Economists and analysts were predicting a similar decline after a decline of 0.1% in April.

Still on macroeconomic statistics, the current account deficit widened in the first quarter to 109 billion dollars, or 3% of GDP, compared to fourth quarter 2009. This is his third consecutive quarterly increase since the low of $ 84.4 billion in the second quarter of 2009, when the international commercial exchange had significantly contracted due to recession.

In addition, two indicators sow confusion in the minds. The condition index of industrial activity in the Philadelphia Federal Reserve came out much lower than expected in June and called for a fragile economic recovery in the United States. The index came in at 8 in June as against 20.9 expected and 21.4 in MayThe employment component falling in the negative, at -1.5 against 3.2 in May, the lowest since November 2009.

For its part, the U.S. index of leading indicators registered a record high in May, according to the Conference Board, suggesting that the recovery of the U.S. economy will continue. The index rose 0.4% to 109.9, after having stagnated in April instant payday loan. Economists projected an increase of 0.5%.The index should continue to increase but more modestly in the coming months due to an unemployment rate still important.

Pending Brussels

The market is also attentive to the summit of European leaders in Brussels today in which they intend to tighten fiscal discipline and laying the groundwork for an economic government to reassure the markets remain concerned about the euro area and in particular the situation Spain.After Greece, Ireland and Portugal, the markets are worried because of the financial health of the country and its capacity for economic recovery after an austerity plan, despite the undertaking of structural reforms on the market work in the banking sector.

On the foreign exchange market, the euro gave ground in the morning against the greenback, passing under $ 1.23, reflecting a renewed concern.

AOL supervised

On the side of values, according to several American media, the internet group AOL (-0.22% to 22.23 dollars) is about to give the social network Bebo to an investment fund, Criterion Capital Partners, a small fraction of the price he had paid to take it two years ago.

Always on the side of values, FedEx (+0.20% to 78.23 dollars) Wednesday reported a quarterly profit slightly above expectations.

Also note Apple (1.31% to 270.75 U.S. dollars) which said it had registered more than 600,000 bookings for the new version of the iPhone during the first day of marketing.

JM Smucker (6.29% to 61.38 dollars), a group specializing in food, has reported a turnover of 1.07 billion dollars for its fourth fiscal quarter and a Earnings per share (EPS) of $ 1.07 before exceptional items.

Pier 1 Imports (5.24% to 8.44 dollars) a manufacturer of furniture, for its part, reported an unexpected profit adjusted under its first fiscal quarter in favor of improving its sales business on a comparable basis and its margins.

Thursday at the conference NPA-Le Figaro, Stéphane Richard, CEO of France Telecom, has not minced his words. "We're not a patron. On The World, we take a look industrial. "What interests telecom operator, is essentially The World Interactive, the joint venture group Le Monde and Lagardere. Orange would bring his digital expertise. The objective is to achieve the same "marriage" of advertising agencies news sites. Stéphane Richard praised the merits of a merger between Orangeactu and Lemonde.fr, respectively second and third information sites in France. However, the advertising of the World Interactive, called iRégie.com is a subsidiary of World Economy Advertising, itself owned 51% by Le Monde, against 49% of Publicis.

"To play a marginal role"

Problem.If Orange wants to play a role in Le Monde Interactive and its governance, it will have to redeem the minority shares of two words: Lagardère and Publicis. But Lagardere has made it clear he was not a seller 's best payday advance. So, to achieve his ends, Orange must accept an interest in the whole group Le Monde newspaper and the Web. Orange is ready "if necessary, to play a marginal role in the round table" investing "nearly 40 million" on the side of takeover candidates, whoever they are.

The last candidate to have filed a date préoffre is the group Le Nouvel Observateur. His boss, Claude Perdriel, would invest 80 million euros alongside a partner. In front, he will find the offer of the trio Pigasse-Niel-Bergé.All this agitation on the part of candidates has been at the center of the ordinary and extraordinary general meeting of the Society of Editors of the World (MRS) held in the afternoon on Thursday. The next meeting should be convened on June 25, time to get a clearer picture on the submission of applications.

Time is running out, because the world must find the money before July 15. Otherwise, it may be insolvent.

In Brussels

The epilogue finally began in the Greek crisis. Emergency Meeting in Brussels on Sunday, finance ministers of the euro area have decided to implement a massive rescue plan: 110 billion euros in loans over three years (80 billion from the states in the area, the rest from the IMF). From never-seen in the recent history of finance. "There is no question of going back on it", insisted the president of the Eurogroup Jean-Claude Juncker. The Extraordinary Summit of Heads of State and Government, convened Friday should be a formality. For its part the IMF managing director Dominique Strauss-Kahn, said that the agency would approve a loan of 30 billion "in the week."

To convince its European partners, Greece on Sunday presented a plan of unprecedented sacrifices.The goal: save 30 billion euros over the next three years (or 11% of the GDP of the country!), In addition to 4.8 billion euros announced for 2010. For the people, the bitter potion looks, since it will give up the 13th and 14th month of salary for civil servants and swallowing up of one to two points in the VAT, which already stands at 21%. Taxes on fuel, alcohol and tobacco would be increased by 10%. Public investment will fall 1.5 billion over two years. The duration of pension contributions from 37 to 40 years. But is the price to pay to bring the deficit below 3% of GDP by the end of 2014 – against 14% in 2009. "These are tough sacrifice, but necessary," without which Greece would "bankrupt", said Greek Prime Minister George Papandreou.

The bill also promises salty for Europe and the IMF.The money lent by the Europeans will be distributed among them in proportion to their participation in the euro, or 21% for France and 28% for Germany. But "it's give and take," assured Christine Lagarde just before the meeting. The French Minister of Finance have no doubt: "The French and European citizens will review course their money, and loans will be repaid, principal and interest payday loans with no fax. "

Banks asked to put their hands in the pocket

Banks should also be tapped. "I would expect that the financial sector also look what he can do," warned the French minister, citing "an exercise of solidarity."For his part Jean-Claude Juncker, has assured that "all ministers have agreed to do with their respective financial and banking sectors which voluntary contributions could make the banks. Already, Deutsche Bank, Allianz and reinsurer Munich Re would pay 1 billion euros to Greece under the same conditions as for the States of the European Union, said Sunday night the Financial Times Deutschland.

Europeans paying dearly for their procrastination – "I acknowledge that I too almost lost patience along the way," admits Jean-Claude Juncker. But they had no real choice. The markets, which have been flying yields Greek beginning to wonder if Portugal and Spain since Standard & Poor's downgraded their rating."It is not only Greece but also help the rescue of the euro," said Belgian Finance Minister Didier Reynders. We must avoid the contagion. Even Germany had overcome its hostility to the idea of saving Greece from its own mistakes. "It is our duty to defend the stability of the euro area as a whole," assured the Finance Minister, Wolfgang Sch?uble.

With this plan, the financing needs of Greece are insured for 100% during the first two years and a guarantee fund for banks with 10 billion euros, has also been established. It was time for Athens was important to begin to touch the money before May 19, to pay 9 billion euros maturing at that date.

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Should he do so without saying? The government raises the question about raising the legal age of retirement. Introduced in 1983, the possibility of a pension at age 60 is an "acquired" intangible to the unions – will undoubtedly touch inflate the number of events already planned. But the past work of the Board of Retirement Guidance (NRC) also show that this solution would be financially much more efficient in the short and medium term of a longer contribution period, this second option had significant effects that 'from 2020 at best.

Therefore, the temptation is great to work around the problem: give everyone the opportunity to leave at 60 if he wishes, but to dissuade the maximum. For this, the pension of a person choosing to leave "early" (before 62 or 63 years, for example) could be amputated, even if it has "all quarters."The track appeared there more than a month in the NRC documents, referring to examples of U.S., Japanese and German. It went almost unnoticed, except in the eyes of government officials who are working on pensions.

"The executive Ponder on it," admits one of the main actors of the file. "It's part of the range of possibilities," says a corporate source, emphasizing that nothing is decided. "I was cooking around that idea," says a union leader. Who speaks the same orders of magnitude, "a discount of 1.25% per quarter or 2.5% below the target age.In other words, for the same number of quarters validated, the person who would liquidate his pension at age 60 would incur a penalty of 10% to 20% compared to that which would prolong his career until age 62 – if the government set the example age as a goal.

A more complicated

The assumption is even less absurd than 22% maximum discount is already applied in France, supplementary pensions (Agirc-Arrco) for private sector employees who retire before age 65. The retiree does not realize, because a fund compensates this difference.

But the existence of this fund, called AGFF, is up to the renewal of a regular union-management agreement.The agreement expires at the end of this year and will be renegotiated just after the reform of pensions.

Advantage of the option: it offers hope of union protests limited, maintaining the symbolic age 60 years. Disadvantage: it would make a bit more complicated than a pension system that is already fairly. And above all, "everyone knows that it is the workers rather than managers, who tend to stop working when they have the right, a government source analysis. The risk is they leave with even lower pensions. The government plans to publish a first draft of its reform from mid-May

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