World News – International Headlines, Stories

ALSO READ:

"Cope wants to increase the VAT, the government opposes

A system where the employer hires employees based on their needs. All very normal in the business world. This is also what is trying to establish the government in the high administration, removing the classification output of the ENA. The project is as simple as it seems and arouses strong resistance – for evidence, it was launched by Nicolas Sarkozy three years ago! But a further step was taken with a Senate vote on the night of Tuesday to Wednesday.

So far, students from the Ecole nationale d'administration choose their assignment at the end of their schooling, according to their scores. The bodies of remunerative and prestigious as the Inspectorate of Finance, the Audit Office or the State Council, are favored by ENA graduates out into the "boot", that is to say in the lead."A competition spent 25 years directing a professional life," lamented the head of state in early 2008.

The former ministers Eric Woerth and Andre Santini launched the file. A decree establishing a new procedure has been drafted. But in examining the State Council said that the law provided an explicit allocation based on the classification output of the ENA for … the young magistrates of the State Council. An order may violate a law, while the site was blocked. The bill Warsmann simplification of the law under consideration in the Senate, gave an opportunity to remove this obstacle. That's what the senators come to … more than a year after members! And the process is not complete since it takes a second reading.

"A committee of transparency"

The future allocation system, the government now to see applied in 2012, "is in all our reforms on the careers of officials: Replacement of the notation for the assessment interviews, validating experience, removing age limits cash advance no fax… "said Secretary of State for Public Service, Georges Tron. Young énarques indicate the positions that interest them. Governments express their preferences on the candidates after reviewing CVs and interviews conducted anonymous collegially. Given these factors, a "transparency commission" – by Jean-Pierre Jouyet, technocrat, Inspector of Finance and Chairman of the Financial Markets Authority, which devised this procedure – decide assignments.Everything is supposed to allow a match between the skills and desires of candidates and the needs of the state.

This complex system must address the concerns of nepotism, "pistonage" or political patronage. Ranking is indeed perceived by its supporters as the guarantor of equal opportunities, ensuring that merit alone leads to better jobs. "Yes, it is a system incongruous, but it is an incongruity that we have 150 to build!, Pleads Arnaud Teyssier, president of the Alumni Association of the ENA. Governments are not businesses, because they are subject to policies. Their boss, the minister. The risk is that the most prestigious body n'accueillent the brightest but most Parisians, the most militant, who have the best address book. "Proponents of reform will see these concerns as" corporatism "of great body.

Sitting at the grim Paris Stock Exchange on Friday. After the day's bearish Thursday holiday, the CAC 40 fell 1.83% to 3796.61 points at the opening, very far of the 3900 hit points a week earlier, and especially in the technical threshold of 3860 points. Very quickly, the fall accelerated in early trade: the ACC lost 2.40% to 9.15 points at 3774.

In London, the FTSE follows the same path with a drop of 1.26% to 5742.12 points in early trade. In Germany, the Dax in Frankfurt lost 1.08% to 6650.92 points.

In a European context, the problems of sovereign debt of countries worried investors again. Ireland focuses particularly critical. The yield spread between ten-year bonds issued by the Irish and German Bunds reference reached Thursday a new record since the inception of the euro area, to 685 basis points.Ireland has held "very severe" this surge in borrowing costs.

This situation prompted the convening of a meeting of finance ministers from five European countries, including Germany and France on the sidelines of the G20 in Seoul. According to initial reports, the European Union is ready to respond, whatever the scenario of the financial crisis currently Ireland.

Moreover, leaders at the G20 talks in Seoul were completed on a final communiqué citing in particular the "war of currencies": "The G20 will take all measures, including fiscal consolidation, strengthen recovery, support growth and ensure stability of financial markets ".

This morning, Asian stock markets have all closed in the red.

French GDP in the consensus

As for macroeconomic announcements, the first estimate of French GDP in the third quarter market expectations. This ultimately up 0.4% when analysts expected a rise of 0.5%. The second quarter growth was confirmed at 0.7%. Christine Lagarde, this is "a good number that consolidates after entry into the crisis."

German GDP over the same period grew by 0.7%. The figure in the second quarter growth was also revised to 2.3% against 2.2% originally announced.

Growth in the euro area is also expected. Like the sentiment index for November condommateurs United States.

On the foreign exchange market before the opening, the euro appears still down against the greenback. The single currency traded against the dollar 1.3606 (-0.11%).

Vivendi and the bank mishandled

As for values, no title in the green in early morning.

The banking sector still manhandled Thursday, always reacts badly to Irish concerns. Societe Generale (-3.59% to 40.41 euros), Credit Agricole (-2.94% to 11.05 euros) and BNP Paribas (-2.70% to 51.25 euros) in the red.

France Telecom (-1.21% to 16.73 euros) hopes to forge a partnership for its chain of televison Orange Cinema with Canal + (Vivendi), but an agreement is not reached before the end of the second half of 2011. The group also announced that he wanted acorde more attention to Africa. Vivendi is the laggard of the CAC: -3.67% to 19.81 euros. The group is also affected by a new mediated by the Tribune on Friday, citing the loss by the media group of its favorable tax regime in late 2011.

EADS (-2.39% to 18.65 euros) on Friday announced a return to the green in the third quarter with a net profit of 13 million euros, against a loss of 87 million euros a year earlier. The group raised its annual forecast of earnings in a more positive in commercial aviation. In addition, the subsidiary Airbus would prepare a warning on a global electronic problem that can lead to discontinuation of its testers single-aisle aircraft, according to the Wall Street Journal.Un group leader also spoke of the incident A380 Qantas airline stating that it would impact on deliveries.

Richemont has released for the first half of its fiscal year offset a net profit up 87% to 644 million euros against 344 million a year ago. That is more than the 546 million expected by the markets.The luxury sector is not receiving the good news in the current context: LVMH lost 2.50% to 114.90%.

Poweo (-2.41% to 7.29 euros) prepares to leave the mass market even before the reform of the electricity market is completed, according to Les Echos on Friday, which confirms the failure of market liberalization. EDF (-1.08% to 32.18 euros) is not benefiting.

In an interview with Le Figaro on Friday, Jean-Cyril Spinetta, chairman of the board of directors of Air France-KLM (-1.26% to 12.88 euros) is concerned about the rise of Emirates airline.

Also in the Figaro, the boss of Sodexo (-1.37% to 46.39 euros), Michel Landel, said that "the group runs through the crisis."

Gone are the real estate crisis? Not necessarily for homeowners who want to sell their property or an acquisition candidate. In contrast, for promoters, so good. "This year we sold 115,000 houses or apartments against 106,000 in 2009," said Marc Pigeon, president of the REIT (real estate developers Federation). It is far from the 79,000 sales recorded in 2008 at the beginning of the crisis. Meanwhile, the price of new homes continued to soar since the beginning of the year (+6.8%). In the town of Marseille, the jump was 9.8% against 3.6% in the urban community of Bordeaux. The introduction of the new loan (PTZ +) and Scellier planed to 10% from janvier2011 does not penetrate the optimism of professionals. "We should still reach the 115,000 sales next year," said Marc Pigeon.

Crisis, recovery, recession? Car manufacturers have decided not to ask. Not at the Paris Motor Show 2010 in all cases. "You have seen this change? revels an OEM. The stands are bigger, more beautiful, even the ceiling to the air above. And yes, manufacturers have shied away from anything. If, in speeches, the spotlight is made for electric vehicles on the trays, it is mostly sports coupes and SUVs (Sport Utility Vehicle or RV) flashes that attract photographers from around the tent, however entier.Citroën combine the two with her on Volt concept car sports a 100% electric.

The cars appeal to as much as hostesses.If there has been two years, brands have modestly decided to dress the mannequins, the girls are back east, "especially among Italians," said a colleague also obviously very aware of the issue. Alfa Romeo pulled out the big game: fast cars and beautiful women. Fiat is decorated with a playful, just to recall that its cars are primarily urban, but they can ride in the country … and hostesses attract visitors, more than two robots stand assemblers Ford. Their ballet probably much interest children in the early days the general public – from Saturday – it captivates photographers.

At Renault, Carlos Ghosn we had more discreet, revives his stage entrances so "rock star", loud music and big screens for the press conference, broadcast on a giant screen in front of a Japanese press again enamored.Music question, BMW and Mini have completely installed rock bands on their stands. And since the celebration. And many marshals its forces to press the big parties tonight. After one very noticeable Jaguar last night, they say, the competition is launched.

The French group Vivendi announced this Monday, in a statement the sale to General Electric 7.66% of its stake in U.S. media group NBC Universal, which is born of the merger in 2003 of NBC and Vivendi Universal Entertainment. This entity was 80% owned by General Electric, the remaining 20% owned by Vivendi.

The operation is not really a surprise, since an agreement between Vivendi and General Electric was raised since December 2009.

The release of the French company said that "the shares already owned by Vivendi, or 12.34% of NBC Universal, will be sold to General Electric for $ 3.8 billion at the closing General Electric Comcast.

An operation to three

The conglomerate and the cable operator are indeed involved in the formation of a joint venture of NBC Universal around.Announced in December, the joint venture would be 51% owned by Comcast and 49% by General Electric. A seven-year horizon, the joint venture should be fully redeemed by Concast. Already a number of cable television in the United States, the group wants to get their hands on programs produced by NBC Universal to distribute to the public on a declination of media: television, computers, mobile phones.

In parallel with this mega-transaction, Vivendi has agreed to sell its shares in stages from NBC, its total withdrawal is conditional upon the finalization of the agreement between General Electric and Comcast.

Finally, the amount of the sale of the entire shares of Vivendi Universal NBC, 5.8 billion, will conform to the valuation that had been considered during the assignment agreement last December.In exchange, the Vivendi gained 0.50% to 9.30, in unison with the market, as the CAC 40 climbed 0.45% then.

"The President of the Republic knows that we pay attention to fairness." While the pension reform should be considered in the meeting in the Senate as of 5 October, the Senate President Gerard Larcher, relaunch the idea of pension reform. "Senators will make proposals for the disabled, long-term unemployed close to retirement, long careers, the hardship," he said in an interview with the Journal du Dimanche. He said the reform could be amended without his balance is altered

Firm and conciliatory

With regard to mothers born between 1950 and 1960 and he is both firm and conciliatory. Closes on age for full retirement at age 67, which he believes is "not negotiable", but conciliatory "since we must move in the direction of fairness.We must address this transitional generation whose careers are sometimes chopped, "he says.

In sum, it remains sensitive to the proposals of the CFDT – "do not slam the door on the fingers of one who cracked open" – but do not forget that "new age limits are the bedrock of reform ", as the government says. Although he denies it, the chairman of the Senate seems to have been called to order by the Elysee on the age of a full pension at age 67. Several weeks ago, he mentioned the idea of holding at 65. "I do not feel that we are corseted," he defends himself.

Nicolas Sarkozy has provided guidance

It does not, however, lies in contrast to say that the President of the Republic, Nicolas Sarkozy, has given guidance on possible improvements to the senators. "I talked with the President.It set the framework and objectives of the bill and the Senate will honor the balance of the reform, "said Gerard Larcher.

Senate President raises further milestones for the future of the pension system, saying it should not only modify the conditions of retirement, but the system as a whole. "It is whether we will engage in a consolidation plan to eventually go to, for example, to a point system. We need to think now. The Senate may establish the principle, "he concludes.

ALSO READ:

"Retirement:" No more concessions threaten the funding "

Anxiously awaited the U.S. employment figures for August were better than expected, according to the Department of Labor. If the U.S. economy as a whole has destroyed 54,000 jobs, the private sector alone has created 67,000 jobs. Economists had expected only about 41,000 new posts.

The private employment nevertheless displayed a marked decrease from the previous month, the companies have created 107,000 jobs in July, according to figures revised up sharply.

The Paris Bourse jumped in the wake of the publication of U.S. statistics, the CAC 40 gaining 1.43%, to 3683.54 points."If these figures are burying a little more second recession scenarios, they confirm the thesis of a slow recovery," nuance in a note economists Societe Generale CIB.

Only the number of private sector jobs is important, because the public continues to destroy temporary jobs created earlier this year for the population census and does not reflect the U.S. economy.

Job losses in the industry

"These figures are fairly good news," said Thomas Julian, an economist at Natixis. "The job creation in the services sector (67 000) has indeed succeeded in erasing the destruction of jobs in industry (27,000) and construction rebounded (19 000)."

The unemployment rate, calculated differently, increased only 0.1 percentage points to 9.6%."The current pace of job creation, lower than 100,000, not enough to lower the unemployment rate, economists emphasize Societe Generale CIB. On the other hand, the long-term unemployment has reached 42% in late August. A sign that worries the Fed, the U.S. central bank.

"The slowdown in job creation (especially in industry) seems to reflect the current slowdown in growth caused by the gradual disappearance of the stimulus," said Thomas Julian.

See also:

"U.S.:" A disturbing context "

"Alert on the American note

The U.S. growth revised sharply downwards

Effect "back to earth." The French statistical institute (INSEE) on Thursday published a study that analyzes the household income for the period 2002 -2007. It reveals that the income of rural residents of metropolitan France grew faster than those cities. If one third of the wealthiest households are concentrated on the Ile-de-France, INSEE observed a phenomenon of rebalancing.

Thus in the Ile-de-France and Alsace two richest regions – the median income (note: half the French paid a higher salary, the other a lower income) increased 12% between 2002 and 2007 against 16% average for the whole territory. In Corsica, however, where incomes are lower, median income has jumped 23%.

Migration and the baby-boom

According to INSEE, this phenomenon can be explained by the arrival of wealthier households in small towns.These include urban assets fleeing big cities and their tax burden. But the statistician also highlights a second phenomenon: the impact of an aging population. Between 2002 and 2007, "the number of households 60 years and over grew twice as fast as the total number of households. Meanwhile, the incomes of 60 years and over are rising twice as fast as inflation, "said INSEE. Very active in the campaigns, the generation of baby-boom contributes to rural incomes make up, and therefore the balance of the territory.

Persistent inequalities

But all regions of France have not benefited from this drive. Some economically unattractive or very remote from urban centers remained behind. This is particularly true of the central districts of Britain or mountainous regions.Nord Pas-de-Calais and Champagne-Ardenne also concentrate the lowest incomes.

In these regions, it is mostly young families who are experiencing difficult situations. For the latest revelation of the study reveals that the digging of a generational gap. Across the country, the median income of the less rich than 30 years has increased by 16-20% while that of younger declined by 1.6%.

ALSO READ:

Why they love France

The tax audits of large fortunes

"The euro and the cost of life and perceived reality

"End of a hard month for 60% of French

"The housing maintains the feeling of decommissioning"

beginning of August euphoric on European exchanges. In Paris the CAC 40 rose 2.99% to 3752.03 points, or beyond the threshold of 3750 points. In London (2.65%), Frankfurt (2.34%) and Madrid (3.2%), the indices show the same optimism. The euro, it is the highest since three months.

Throughout the meeting in Paris, the CAC 40 was worn by banking stocks, while BNP Paribas reported Monday morning a good interim results.Worldwide, banks have been well supported by investors more confidence in the sector, particularly in Europe, and after already good grades stress tests.

The oil sector also outperformed on Monday, while oil was up 2.84% to 17.30 to 81.2 dollars per barrel.

But the boost has been given 16 hours, when the ISM manufacturing activity in the United States has continued to slow in July, the ISM index measuring it has fallen to 55.5, but less expected, according to figures released Monday by the association.A pleasant surprise on the side of the building has boosted the morale of the operators as well.

In Europe, growth in manufacturing output and new orders accelerated, reaching their highest level in three months, according to the latest PMI survey released Monday and conducted by Markit Economics Institute. The PMI index for manufacturing final Eurozone appears already to 56.7 in July against 55.6 in June

Last month, the CAC 40 had already recovered, compared to a decline in June and a memorable month of May in terms of poor performance. Between 1 July and this July 30, the index rose 9.1%. Since the beginning of the year, it remains a decline of 7.45%.Compared to a year ago, it was up 6.3%.

On the values front, we retain:

BNP Paribas (5.27% to 21.5 euros) unveiled on Monday its quarterly results before the market in good order. They are far beyond expectations, thanks to lower provisions. The title gained 4.19% to 54.92 euros. The title brings in its wake Societe Generale (4.67%). For its part, Credit Agricole gained 3.71% to 10.9 euros.

As for the high rise, there are also values related to oil and commodities in general, more expensive that.Technip has been 5.15%, Maurel et Prom, 5.01%, and Arcelor Mittal, the largest increase in the CAC 40 rose 5.81% to 24.75 euros.

Air Liquide (3.43% to 89.433 euros) on Monday confirmed its objective of increasing its net profit in 2010 after an acceleration of growth in sales between the first and second quarter, thanks notably to markets emerging.

France Telecom (2.24% to 16.43 euros) has initiated discussions with shareholders Meditel second operator in Morocco, to acquire 40% stake in it, according to the Moroccan weekly News, suggesting a possible investment of 650 million euros. Title varies slightly to 16.05 euros.

On the other hand, in the red, Areva (-4.04% to 350.05 euros) is at the bottom of the ACC 40.The group released Friday, as expected, half results penalized by an additional provision under the Finnish EPR OL3, but it confirmed its targets for 2010.

Vinci and Eiffage shaped

Eurazeo announced Saturday that entered into exclusive negotiations with the U.S. fund Carlyle for the sale of the hotel chain B & B.Eurazeo gained 4.14% to 50.91 euros.

The construction group Vinci (3.73% to 38.53 euros) was selected Friday by the Government for the concession and the construction of the airport at Notre-Dame-des-Landes, who should take over from 2017 the air service from Nantes-Atlantique.

Eiffage (3.47% to 40.06 euros) published a quarterly revenue up 2.2% and said its order book stood at EUR 10.8 billion at July 1 ( +4.4% at constant since 1 April 2010), more than 11 months of activity.

APRR. The socialist leader Arnaud Montebourg said Friday it has seized the financial markets authority (AMF) to try and block the delisting of Autoroutes Paris Rhin Rhone (APRR) requested by Eiffarie, a joint venture of the Australian Eiffage Macquarie Group