World News – International Headlines, Stories

The meeting between German Chancellor Angela Merkel with British Prime Minister Cameron, far from marking a reconciliation, a deed the differences between the two countries on the edges of Europe. Despite the cordial declarations of the two heads of government, differences on the issue of saving the euro continues. "Germany's interests, Britain has its own," acknowledged David Cameron at the end of the meeting cash advance.

The issues are still there and no solution in sight, the Chancellor conceded. Britain still refuses the idea of ​​a tax on financial transactions, supported by Paris and Berlin, because it severely handicap the City of London. On the issue of greater involvement of the European Central Bank to resolve the crisis of the euro, which promotes London, the German chancellor has proved inflexible.

Growth in sales is still there but the results will not be the expected level. The leaders of Schneider Electric have reviewed the prospects for the results of the full year 2011 on the occasion of the publication of revenue for the third quarter.

They now expect a margin of EBITDA (EBIT) of 14%, against a forecast in mid-year by 15% and a range of 15 to 15.5% at beginning of year.

This revision does not seem to be the first manifestation of the economic slowdown now widely anticipated but slow to materialize in company accounts.

Indeed, sales are, themselves, adhere to the expectations of Schneider Electric.Third-quarter sales and shows a growth of 7.7% excluding acquisitions and currency effects, to 5.7 billion euros.

Emerging markets continue to show strong momentum. The Asia-Pacific region recorded an increase of 15% of its billings. Elements that have allowed management to assert that the goal of organic growth of between 6% and 9% will be "easily" achieved.

An acceleration of planned restructuring

The group advanced three main causes for this new downward revision of prospects for margin. After the rise of raw materials in the first half, he now finds inflationary pressure on production costs in emerging countries.

Second, the growth of the business now comes from a strong software business, less than Quiet electrical equipment.This is what we call a "product mix" unfavorable.

Final point to address the lack of visibility of the economic environment, the group will speed up restructuring, which will have first a negative effect on margins.

Schneider Electric is sanctioned in stock

The announcement was heavily punished the stock market, Schneider Electric yielding the title more than 7.6% in mid-session in Paris. Probably a reaction against the excessive elements announced, but due to "the economic outlook in the short term that are clearly more negative influence on the future growth of the group," according to analysts at CM-CIC Securities in a note published this morning.

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"After three years of starvation wages, marked by wage freezes or increases in general very limited, 2012 could confirm the recovery that began this year," said Bruno Rocquemont, responsible for investigating compensation at Mercer France.

According to the survey (1) conducted by the consulting firm in human resources, business plan for most occupational categories increased by 3% (median) budget increase (collective and individual), against 2.5 % in 2011. The exceptions are the workers (+2.8%) and senior (2.9%). But in any case, it would exceed the average inflation of 1.7% in 2012 by the government.

End of the wage freeze

Two major trends. On the one hand an almost complete disappearance of the wage freeze, a measure widely implemented at the height of the crisis.However, 4% of companies plan to freeze the workers and managers.

In addition, the company forecasts reflected the "sacrosanct" rate increase of 3%, which was applied during the years before the crisis erupted instant credit report.

In addition, both groups seem to be emerging. First, the majority, has given the 3% salary increase. A second, more prudent, considering between 2.1% and 2.5%.

The survey was conducted between March and mid-July, ie before the great economic and financial events of the summer (crisis in the euro area, downward revision in growth for 2011 and 2012, falling stock markets …), Mercer, again, questioned 142 of the 329 companies in its original sample.

"Eight out of ten believe that these events will bring them to scale back their budgets for salary review.This reduction could be 0.5 point fall. In contrast, companies planning to date, a wage freeze, are still a small minority, said Bruno Rocquemont. In this context, we have to closely follow the mandatory annual negotiations (NAO), which launched just been given in some societies and that will continue into March. "

(1) survey of 329 companies, mostly French subsidiaries of multinational corporations.

Estate agents again under fire from critics. The consumer association UFC – Que Choisir has issued a statement on Tuesday vitriolic, denouncing the "little commendable practices" agencies. After a survey of over a thousand branches, the leading association of abuse "at every level," the tenants are the first victims.

Three types of abuses are highlighted by the association. Estate agents do not initially comply with their disclosure obligations of tenants illegally. For example, 21% of agencies tested their fees do not display in the window, "contrary to a legal obligation 20 years old." Like nearly a third still do not respect the obligation to inform the tenant of the energy consumption of their future home, even as energy prices continue to climb.

Prices "prohibitive"

Partly because of tensions on the rental market, real estate will also allow aspiring tenants require more and more collateral. 62% of them are demanding documents allowed for the creation of a file, the certificate of the employer being required more frequently (by 46% of agencies). "This is not an excess of zeal, defends the National Federation of Real Estate (Fnaim). This is only to ensure donors'.

By virtue of this requirement that many agencies require such an identity photograph, a bank account, a check for reservation of accommodation or a social security card … In about 30% of cases, a guarantor is required when the candidate wins the rent three times the rent."This additional requirement makes it clear that agencies are primarily to serve the landlord," interprets the UFC – Que Choisir.

Last black dot underlined by the association: the profession continues to charge a "service only limited" at prices for their "prohibitive". On average, fees and represent 93% of the monthly rent. The UFC – Que Choisir denounced as such "double penalty" is that the indexation of fees on the rent: the more prices rise, more agencies are increasing fees. Only 6% of agencies practice a fixed fee, delivery.

New measures for consumers

All these abuses have repeatedly pointed out by consumer groups, which tend to hinder access to housing.In March, it was this time CLCV denouncing the excessive billing that affect the budget of the tenants: inventory costs (up to 100 euros), fresh stimulus for delay (20 euros on average ) fee for annual reassessment of rental charges (34 euros) … So many illegal practices which continue to proliferate, despite the tightening of the law.

If the profession is a strong advocate of abuse, Fnaim however, that it will present in September new measures "in favor of an overall organization of the profession, faithful to respect the interests of consumers."

The Secretary of State for Housing, Benedict Appeared should follow suit."It is important not to heap opprobrium on a profession that is aware of certain abuses, organized thinking to fight against," he said Tuesday, before announcing that new government measures against the abuses described as "unbearable". Currently "under development", these measures will aim to "protect consumers and support those professionals who are committed to the quality of service." For these traditional signs of strong competition from low cost agencies in full swing, this strategy could indeed be a winner.

Testimonials – Have you ever been abused by estate agents? Have you seen such abuses around you? Tell us your experience in comments below or by email at temoin@lefigaro.fr.

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In May 2010, McDonald's France was a sensation with a TV spot in which a teenager going on a phone call to her boyfriend before having lunch with his father, who explains that, as he did at that age, it could be a 'real card with the babes. " Advertising has been around the world. In the original French with subtitles in English, it even triggered a controversy in the United States. The conservative Fox News channel has even made a field day. Sacrilege: great American brand in the gay friendly side!

In this spot, designed by BETC Euro RSCG, is not known if the son ends up coming out to her.But the statement by McDonald's, which has declined in all genres, is very clear that you're straight or gay, black or white, young or old, rich or poor, we do not judge, "just like you are. "

Before, we criticized the pub not to be representative of "visible minorities", not to be sufficiently "black-blanc-beur". Today, the debate has shifted to the "non-visible minorities" and still gets carried away on the issues of communalism, which are still taboo in France.

10% of "non-white"

The proportion of ads depicting characters perceived as "non-white" compared to the total advertising (TV, press and poster) distributed and reviewed by the Regulatory Authority's professional advertising (ARPP) reached 7% in 2008 against 3% in 2005, and this share has increased further since then, around 10%."Racial minorities are now represented quite rightly, said Ingrid Zerbib, image editor for the magazine Strategies, who viewed all the ads that come out in France. The next step is in progress. Homosexuals, the disabled and the sick are increasingly visible. "

McDonald's campaign has been emulated. Krys posted Orangina or gays in their pubs. Personalities with disabilities such as Down syndrome Pascal Duquenne for the virtual mobile operator Simyo, or the blind Gilbert Montagne, for heating specialist camera, turned in spots. Diseases are also commonplace."You can be sick without stigma," said Anne Ramon, communications director of the National Cancer Institute (INCA), the last campaign "I am a person, not a cancer," conducted by the agency La Chose , seeks to change social perceptions of one of the most widespread diseases in France.

In another, more commonplace, but also an affirmation of reality: that of the Community consumption, with the campaign launched last year by the brand halal Isla Delight "Proudly halal." On the occasion of Ramadan, for the first time in France, the brand was as diverse a reference food, free of any cliché. "This campaign is a marker, decrypts the marketing consultant Jean-Jacques Urvoy.The brand was treated as the French leader Charal. "On a halal market estimated at over 5 billion euros – and therefore highly competitive – the whole trick of the ad was to challenge the EU labeling, while displaying a rooster and a Charolais beef! A war of images in a way.

"Frankly, I'm the only one who can clean it all," said Rupert Murdoch, tapping his fist on the table, at the hearing by the Cultural Committee of the British Parliament last month. Open-tapping scandal, the media mogul has not yielded an inch on the issue of governance of the group whose history is intertwined with that of his family. Wednesday, publication of successful annual News Corp has confirmed this position. He and his family will remain at the head of News Corp and any jolt the market or its shareholders will do deviate from their course.

"Never Rupert Murdoch will not yield to pressure. Neither in a million years or two million years. If a change is to occur, it will be by his own will and when he decides, "recently told a source close to the clan, The Guardian newspaper.During his hearing in July, Rupert Murdoch did not hesitate to declare that he wanted "to see his son and daughters to continue the road, if they are interested." Wednesday night, he reiterated his confidence in his son James, who oversees the group's activities in Europe and Asia.

Yet the issue of governance is more than ever at the heart of the reflection of the market on the future of the empire built by one man, who hammered Wednesday night: "The job is not to be filled in the near future. "

Voices begin to rise among the shareholders to demand an overhaul of the board of News Corp fast cash advance. With 12% of the capital and 40% of the voting rights, Rupert Murdoch and his two son, Lachlan and James, occupy three seats out of the seventeen that make up the governing body.Before exploding the case of the tabloid News of the World that led to its closure, it was also expected that Elisabeth, her second daughter, occupies a fourth seat. What it has temporarily waived. Besides the fact that James has yet to respond to the inquiry on the sheets, making his position as director of News Corp chief operating and its subsidiary, BSkyB, more and more complicated. "It is time to end management of a decent grocery store around the corner," a shareholder storm quoted by the Anglo-Saxon.

Rise of Chase Carey

Six months ago, Chase Carey, the News Corp. chief operating, popular markets, was to chair the group in preparation for the arrival of James Murdoch to the position. In vain.However, there is a manager in whom Rupert Murdoch has the most confidence, the point of saying Wednesday night: "If I go under a bus, is to him that my job will come back."

Theoretically, News Corp has nine independent directors can tilt the board. But as the experts point out, "it is very difficult to agree nine people at once. This is not a malfunction, it is a non-functioning board. "

All weekend, they multiplied the meetings and news: the political leaders of industrialized countries have mobilized to show that they had taken stock of efforts to engage to address concerns about the state of their finances. What to try to reassure markets, worried after the announcement Friday after the close of a deterioration in the rating of sovereign debt of the United States by Standard & Poor's, but also disturbed by the difficulties faced by countries the euro area to implement the solutions to the crisis in Greece. With always in sight the risk of contagion of debt to other countries.

In the wake of the Asian stock markets, down sharply this morning, the benchmark index in Paris should begin his week on a further decline in the eleventh row. Unheard of since the creation of the CAC 40 index in 1987.At 8:15, the futures on the CAC 40 was down 2.18% to 3209 points. Elsewhere in Europe, the future of the Eurostoxx 50, Dax, German and English are the Footsie down 1.9% to 2.4%.

Of course, Angela Merkel and Nicolas Sarkozy reiterated yesterday their determination to ensure that the bailout of Greece on 21 July be adopted before the end of September. They also praised the efforts of Spain and especially those of Italy, two weak links in the euro area at present. In addition, the European Central Bank (ECB) said it would implement "active" its buyback program obligations. However, this measure made and announced last week by Jean-Claude Trichet, president of the institution, had absolutely convinced investors.On the contrary …

Next on the list?

Moreover, the decision of Standard & Poor's on the U.S. should continue to haunt the minds of the markets, despite a weekend to "digest" the news. Now that the world's largest economy, long considered one of the most reliable borrowers, is not as well marked, which could consider itself safe from degradation? In France, this concern should be limited, however, the chief economist for Europe, Standard & Poor's Jean-Michel Six, who said Saturday that the agency maintained the "AAA" of France, in a stable outlook.

Before testing the first effects on the markets of this political mobilization, the announcement of the ECB on repurchase of bonds has already led to support the euro against the dollar saving account pay day loan.At 7 o'clock this morning, the euro was worth 1.4321 dollars, against 1.4281 dollars on Friday night, after the dollar rose to 1.4370 on Sunday night. But above all concerns macroeconomic benefit to gold, which recorded a new record Monday on the market in Hong Kong, dying for the first time the maximum 1700 dollars an ounce, and benefiting fully from his safe haven status.

The sharp drop in oil

Instead, the side of the oil, oil prices continued to tumble on Monday. Result of numerous concerns about a possible global recession, prices show a sharp decline.In morning trading in Asia, a barrel of "light sweet crude" lost 2.59 dollars to 84.29 dollars, while that of Brent North Sea crude for September delivery fell by 2.48 dollars to 106.89 dollars.

Finally, the political mobilization should remain in force throughout the day, and guide the trend in European markets as U.S.. For the side of the macroeconomic data, the news will remain poor n this first day of the week. Unlike last week, no statistics across the Atlantic will not give further details Monday about the health of the U.S. economy or the risk of a possible recession in the country. In France alone are expected to 8:30 business surveys from INSEE in the industry and market services for the month of July.

As for values ​​to follow, business publications are scarce this week.

Archos.The manufacturer of tablet detail its annual accounts after the market closes.

Carmat. The heart specialist articificiel total announced Sunday evening the success of its capital increase launched from July 13 to 29. The former subsidiary of EADS has raised 29.3 million euros, which will fund the first clinical trials on humans.

GDF Suez. The group of energy and services has sealed, according to Les Echos, a strategic Partenaris with the Chinese sovereign wealth fund CIC, which would lead to an acquisition of a 30% interest in the exploration and production arm of French.

After a week marked by the beginning of a very nervous investors, the Paris stock market is still under pressure on Tuesday, still confused about how to react against the agreement reached Sunday night in the United States on raising the ceiling of the debt. The CAC 40 was down at the opening of 0.52% to 3569.26 points before giving further 0.45% to 3571.86 points in mid-session.

The benchmark index of the Paris this morning reached a new session low of the year at 3553.54 points. Yesterday, he finished in a very sharp decline (-2.27%), despite an optimistic start of the session after Barack Obama announced that a compromise was finally reached between Republicans and Democrats on the measures to be taken to reduce 'U.S. debt, after weeks of negotiations.The House of Representatives has also tonight approved the agreement, which will, from this Tuesday evening, subject to the U.S. Senate.

The Cac 40 was finished on Monday, under the 3600 points, to 3588.05 points, the lowest since August 2010. In addition to the uncertainty on the adoption by Congress of a plan considered "a minima", investors were frightened by the publication of an indicator of U.S. industrial activity is very disappointing. What revived fears about the strength of the growth of world's largest economy.

Therefore account for these concerns again the minds of investors on Tuesday, while voting in the night by the House of Representatives from the increased ceiling of U.S. debt relieves some of the final adoption of the plan.The Senate vote, expected on Tuesday to 18 hours, should not influence the market today.

In addition, rating agencies have not yet given their opinion on the common ground found in extremis by the elected Democrats and Republicans, especially regarding proposed budget cuts to reduce the deficit (2.5 trillion dollars over 10 years) . This raises the specter of a possible degradation of the maximum always assigned to the U.S. sovereign debt (AAA).

Elsewhere in Europe these concerns also influence the trend. In London, the FTSE 100 was down 0.56% to 5742.24 points while in Frankfurt the Dax moves ever in the 7000 points mark, after the results poorly received by the market.Metro disappointed.

The long-awaited economic figures

Beyond the issue of debt, new macroeconomic indicators are expected across the Atlantic on Tuesday and could more severely curb the trend. At 14:30 will be unveiled including the revenues and expenditures of U.S. households for the month of June while vehicle sales for the month of July should be reported late this evening.

Meanwhile, in Europe, producer prices remained stable in June, having increased by almost 6% year on year, according to data released Tuesday by the EU statistics office Eurostat. In May, prices fell 0.2% after 19 months of consecutive increases (5.9% increase).

On the currency front, the markets vary little, still mixed on how to deal with an agreement reached in the snatch.The euro was virtually unchanged against the dollar on Tuesday morning after its decline yesterday, and while the vote on raising the debt ceiling is expected in the U.S. Senate. In mid-session, the European currency was worth 1.42 dollars, a slight decline of 0.36%.

The side of the barrel, and the day after a volatile session marked by swings of the agreement on U.S. oil prices rose slightly off again Tuesday morning in electronic trading in Asia. In morning trading, a barrel of "light sweet crude" for delivery in September yielded 0.85% to 94.08 dollars.

As for values ​​to follow

Alcatel-Lucent rebounds strongly, leading the CAC 40 in mid-session (1.56% to 2.66 euros), while Schneider Electric last displayed index (-4.05% to 96 euros) .

Early publications of the banks, BNP bounces in mid-session

The pace of publication of results of companies this week is calmer. Note, however, launched the quarterly publications of the major banks, with BNP Paribas, which reported this morning results below expectations. The first French bank missed the consensus in the second quarter due to supply and charges (560 million) related to the background of aid to Greece and a weaker than expected growth in income.Consequence of this disappointment, the stock has fallen sharply this morning, before recovering in mid-term: shortly after noon, BNP Paribas 0.56% clawing at 43.92 euros, Societe Generale advance of 1.35% to 33.75 euros (bank accounts will detail on Wednesday), Natixis wins 0.48%, to 3.12 euros, but sells Axa 0.51% to 12.74% (results on Thursday).

NYSE-Euronext (-0.89% at 22, 75 euros). The exchange operator has issued Tuesday a quarterly net profit down 16% to $ 154 million (106.83 million euros), reflecting a decline in trading volumes in equity markets and derivatives markets in New York and Europe.

Schneider Electric (-4.13% to 95.092 euros) announced Tuesday the resignation of Anand Mahindra's term as a member of the Supervisory Board due to potential conflicts of interest between the French and Indian group Mahindra & Mahindra.These conflicts could "arise from the development of these two groups in the distribution business in India," said in a statement the French specialist of electrical equipment.

The specialty chemical Arkema (-3.18% to 64.19 euros) should be very surrounded on Tuesday after the group announced an increase of 33% of its EBITDA (EBITDA) quarterly, which reaches a record 320 million euros.Thierry group provides the Hénaff for 2011 an increase of about 30% of its EBITDA.

EADS (-1.71% to 23.54 euros), despite having a large cash flow, it does not squander his money by overpaying their prey, said Monday its director of acquisitions in an interview to Reuters, after announcing a fourth acquisition this year for the European aerospace giant.

HSBC (2.01% to 7.09 euros) the British bank, one of the first in Europe, will hire 15,000 people in emerging markets over the next three years, said a spokesman Tuesday, the day after the announcement of the removal of 30 000 jobs worldwide.

Gameloft (-0.21% to 4.74 euros) confirmed late Monday its growth targets in sales and margins in 2011 after a consolidated turnover up 11% to 37.4 million euros the second quarter.The weak dollar has had a negative impact on sales, said the publisher of mobile games.

Note that DnxCorp (ex-Dreamnex, -1.99% to 19.75 euros) will unveil its after market sales for the second quarter.

After months of discussions, the two alternative operators in France, Energy, Direct Energy and Poweo, will join forces. The first will announce Wednesday morning the acquisition of 46% stake in the Austrian Verbund in the second. The transaction, which amounts to 36 million euros – at a rate of 4.77 euros per share – allows Direct Energy to become the shareholder of Poweo, the company founded and headed by Charles Beigbeder long. The UK fund Ecofin has for its part, 26%, against 9.5% for the investment company Luxempart and 18.5% for the float.

"This is the first step in the formation of a major independent challenger of EDF and GDF Suez, which already book a million customers in the gas and electricity," said Xavier Caitucoli, CEO of Direct Energy.The portfolio of the company amounted to 650,000 customers specifically, while some 350,000 claims in Poweo.

Xavier Caitucoli, there is no question of seeing this combination in the ultimate act of resistance of both companies in a market ultradominé by incumbents. "Instead, we are here to stay. The new law on the organization of the electricity market, adopted recently, gives us more visibility on our margins and gives the end user the opportunity to go freely in the competition and return to regulated rates if desired ".

At the Paris Bourse, the trend is expected to be negative on Tuesday, more pronounced than the day before, while the Cac 40 showed a slight decline, and Asian stock markets this morning. Wall Street closed yesterday, will reopen at 15:30. Yesterday, the Cac 40 ended on a slight decline of 0.11%, but was maintained jsuute above the 4000 points, to 4003.11 points exactly.

If the folder Greek reassures the issue of sovereign debt in Europe remains. However, in Ireland, the country is on track to meet its goal of reducing the deficit for 2011, with a deficit in the first half of 10.8 billion euros, in line with forecasts, assured the Irish Minister for Finance, Michael Noonan. In addition, the goal of 34.9 billion euros in revenue in 2011 "remains doable," he said.

On Tuesday, is expected at 9:50 Markit composite PMI index.In the euro area, opn know retail in May to 11 hours while in the U.S. industrial orders in the month of May will be known 16 hours. On the currency side, the euro was down 0.42% to 1.4480 dollar.

First trading day of Dia in Spain

Carrefour. Tuesday is the first day of trading of the shares Dia, a subsidiary of Carrefour, the Madrid Stock Exchange. In addition, the shareholders of the holding Wilkes, who controls the Brazilian Grupo Pão de Açúcar (GPA) will meet on August 2 to discuss the proposed merger with Carrefour, said in a statement released Tuesday no fax pay day loans. Wilkes is controlled by Casino, current partner of GPA and fierce opponent of the approximation of the latter and its French rival Carrefour, and the family of Abilio Diniz investor.

PPR.The French group distribution and luxury becomes the majority shareholder, with 50.1% of Swiss Sowind Group (brands Girard-Perregaux and Jean Richard) to strengthen in the field of fine watchmaking. The operation will be done through a reserved capital increase of Sowind Group, which will be fully underwritten by PPR.

Yellow Pages. The group of French directories announced that he could not meet its objectives in 2011. Yellow Pages originally expected to maintain its sales and operating margin stable. The company explains that social movements, which severely disrupted his business last month, could affect its revenues to the tune of twenty million euros.

Bombardier. The Canadian manufacturer of trains should announce job cuts at its site in Derby Litchurch Lane, in Great Britain.British trade unions have called for negotiations, but the measure could actually reach 2000 posts in this factory which employs 3,000 people. Bombardier justifies this decision by the loss of a major contract in favor of Siemens in the UK.

Publicized announced a majority stake in Spillmann / Felser / Leo Burnett, one of the leading advertising agencies in Switzerland.