Archive for the 'work' Category

Sarkozy Holland: relive the duel of "saviors of plants"

Auto Date Saturday, February 25th, 2012

In the match that opposed them remotely Friday field of employment, Nicolas Sarkozy announced at the Petit Couronne do restart the refinery Petroplus temporary while in Florange, Francois Hollande has proposed to oblige companies to find a buyer. Relive the game minute by minute.

This afternoon, a new match was held at a distance between Nicolas Sarkozy, visiting the Petroplus refinery in Petit Couronne, and François Hollande, who moves in Florange to meet with employees of Arcelor Mittal. Two strategic locations in the field of employment. The outgoing president has announced a 6 month contract with Shell and restart the refinery. The Socialist candidate, himself, proposed a law requiring companies to find a buyer when leaving a site. Back to the duel of "saviors of plants".

2:05 p.m.: Arcelor Mittal is dismissed by the High Court of his application for entry ban to anyone outside the service in its application was primarily site.Cette the many journalists covering the occupation of the site by employees.

14:00: Nicolas Sarkozy said that would be discussed next week in Parliament a bill to prevent the diversion of assets of a failing firm, regarding the Petroplus oil declared bankrupt since late January.

14:00: "Now we need you to fight for the more difficult is that the buyer", said also the head of state. There are 3 or 4 buyers interested [...] So far we have not yet found "

. 1:52 p.m.: With regard to the financing, the president ensures that for two months of work needed to restart the refinery, "was 50 million. The 20 million were transferred to the state, 10 million will come through quotas CO ², and the other 20 million cash avanace Schell in "

1:50 p.m. "Last night later, we signed a processing contract, which guarantees refining activities for a period of 6 months. If there was no contract, it was over. The oil company will provide the gross pay and the cost of processing.

1:40 p.m.: Francois Hollande reacted to the news of Nicolas Sarkozy: "It is in fact only get the former owner of the site. This is going to the most urgent."

1:20 p.m.: "I am a word. It is signed" with Shell, said Nicolas Sarkozy, adding: "I'm not saying it saves the refinery, but it is signed, it makes the job for six months ".  

Holland made two proposals

1:18 p.m.: Holland wishes to clarify that he came as an MP, and is prepared to file a bill: "When a large firm does more than one production unit but does not give the, we will do a bill that will force him to appeal to buyers. " Another proposal: the businesses that use too much to pay the interim benefit of unemployment contributions. He is applauded by employees.

1:10 p.m.: The Socialist candidate speaks. He says he wants to defend the steel industry, "sector of excellence". "I come before you to make commitments. I am aware of the anguish that is yours." He adds, to the attention of its competitors: "There are candidates and candidates of the people who claim to serve the people"

13.00: Francois Hollande arrived at the plant Arcelor Mittal, where he has not spoken yet. It stands in the middle of union representatives, who express their demands, after climbing a truck.

12:45: The president finally arrives on the site. Francois Hollande, is always expected Florange.

11:50: The PS deputy for Seine-Maritime, Laurent Fabius, was invited by surprise on the Petroplus refinery site to welcome Nicolas Sarkozy.

11:45: Nicolas Sarkozy will meet in closed session with the staff representatives and administrators of the Petroplus refinery.

Faced with a record unemployment rate since 1999 that is almost symbolic of the 3 million people, the head of state has recently invested personally in two emblematic cases of companies threatened: the Lejaby lingerie factory Yssingeaux (Haute-Loire) and the solar panel manufacturer Photowatt to Bourgoin (Isère). Candidate since Feb. 15 to a second term, Nicolas Sarkozy made a record of his two electoral argument to illustrate his determination to protect "the France of the factories". "If I had said as they (the Socialists) + we + can not do anything, Alstom would no longer exist, Photowatt we do speak of it and Lejaby would have been wiped off the map", he said Thursday at a public meeting in Lille.

Fitch lowers Greece rating to C from CCC

Auto Date Wednesday, February 22nd, 2012

Fitch Ratings downgraded Wednesday the long-term rating of Greece from CCC to C, a decision widely expected after the announcement by the Greek government that could force private creditors to bear their losses if they were not involved voluntarily agree to exchange debt.

The note of Greece at Fitch is no longer only a notch above default.

The rating agency said that this decision follows the announcement Tuesday by the Eurogroup agreement on a second bailout program and those of Greece on how to the debt swap involving voluntary participation of the private sector. 

She believes that the exchange, if completed, will constitute a debt exchange and forced the decommissioning and spoke "indicates that a default is likely in the short term. Ratings securities affected by this exchange were also lowered to 'CCC' to 'C' ".

When the exchange is completed, the rating of Greece will be lowered to "restricted default" and after being re-evaluated, with the emission new obligations, "to a level consistent with the evaluation of the agency's structure and its credit profile post-default".

The euro zone off again Greek Fire

Auto Date Tuesday, February 21st, 2012

At the brink, the euro area has again died Tuesday morning at the fire that threatened to bring Greece but the road is still long and bumpy before the country only emerges from two years of an unprecedented crisis.

Under the terms of the agreement reached shortly before 4:00 Tuesday and after thirteen hours of negotiations, the Greek debt will be reduced to 120.5% of GDP by 2020 through a new public loan program of 130 billion euros and a restructuring of debt held by private creditors.

They have finally agreed to a 53.5% discount on their obligations through a share swap that will erase more than 100 billion Greek debt. 

The European Central Bank and national central banks in the euro area also participate in the plan by giving up some profits on Greek bonds they hold.

"We have reached an agreement on a new scale for Greece and a private sector that will lead to a significant reduction of the Greek debt (…) to ensure the future of Greece in the euro area, "said President of the Eurogroup, Jean-Claude Juncker, after the meeting.

The euro jumped by about half a cent against the dollar after the announcement of this agreement by Reuters. 

ATHENS UNDER SURVEILLANCE

The restructuring of the Greek debt held by private creditors will commit this week, said Greek finance minister, Evangelos Venizelos.

It is expected to close in early March, when the Greek authorities should also have implemented a list of priority measures in the program if they want to get the first disbursement.

These public funds are needed to Athens could repay 14.5 billion euros of bonds maturing on March 20.

Troika EU-IMF-ECB, which oversees the implementation of reforms and conducts quarterly reports will be further strengthened and its resources increased. 

Under the second bailout, the European Commission will soon send dozens of permanent inspectors in Athens to ensure the smooth running of the technical program and monitor the implementation .

This presence on Greek soil will be accompanied by the creation of a special account to process a priority debt repayments Greek, whose principle is enshrined in the constitution within two months.

NO MIRACLE CURE

This agreement multistage was made necessary by the state of Greek public finances as they appeared in a confidential report prepared by the EU, the Central Europe ; enemies and the International Monetary Fund and obtained by Reuters. 

The document also shows that in case of slippage in reforms introduced in Athens or in terms of economy, Greece's debt could reach 160% in 2020, about his current level.

The new aid package will not be a miracle cure. The Greek economy shrank by 7% annual rate in the last quarter of 2011, more than expected, and the new austerity measures would further exacerbate the situation.

Diplomats and economists do not expect this new bailout plan that solves all economic problems overnight, Greek and many believe it will take at least ten years or more for fulfill this task.

European shares end in the green

Auto Date Monday, February 13th, 2012

Relieved by the adoption of the new austerity plan by the Greek parliament in Athens, financial markets have not provided plunged into euphoria, the stock markets Europé ; Ennes reducing their gains in late afternoon while the euro erased some of its progression.

In Paris the CAC 40 index displays a close up 0.34% to 3384.55 points, after peaking at 3413.43 in early trading and a passage in the red in the middle of the afternoon. Elsewhere in Europe, Frankfurt gained 0.68% and 0.91%, while London Athens ended with a gain of 4.65%. The pan-European FTSEurofirst 300 index ended with a gain of 0.71% to 1,071.63 points after rising in early morning to over 1,074.

The European partners of Greece have called to make new pledges its commitment to reform: before the Eurogroup meeting scheduled for Wednesday, the Government Lucas Papademos has yet to find 325 million euros in savings and get a written commitment of political parties to enforce the terms of the agreement.

"See riots and austerity measures to a 'newspaper, it's not good for confidence in the economy. This discourages people from spending in the real economy and it erodes consumer confidence, "said Joe Rundle, head of trading for ETX Capital

. The

Stoxx financials finished up 0.53%. But several French banks have finished in the red after the decision of French and Belgian market authorities to lift the ban on short selling on banks and companies insurance in force since August: BNP Paribas has sold 2.07% 3.64% Credit Agricole and Societe Generale 2.19%.

Other values ​​for this session generally calm, Cable & Wireless Worldwide jumped 44.51% after Vodafone's statements on his interest in a possible takeover.

Sign that investors are still far from fully reassured that the Greek case, the futures contracts on German government bonds, safe haven par excellence in Europe, are starting to rebound in the afternoon. 

Previously, the vote was nevertheless benefited the Greek borrowing of the States "peripheral" euro zone, such as Italy or Spain. The Italian Treasury shall conduct an auction Tuesday for at least six billion euros of bonds, on Monday after raising 12 billion of short-term paper with yields down.

After approaching the threshold of 1.33 dollar, the euro has given up its gains in the afternoon, passing into the red in fed low volumes, traders noting that Greek parliament's vote is far from appeasing all voltages.

"We believe that Greece will eventually receive the money by March 20 but we still think that the euro will fall," says David Watt, currency strategist at RBC Capital Markets. 

The price of oil continue to rise to the highest in six months hit last week, benefiting from renewed risk appetite encouraged by the vote of the Greek Parliament.

But the persistence of many uncertainties about the debt crisis has, again, limited the increase, especially since the beginning of a thaw in Europe after the cold spell of two weeks elapsed 're promotes profit-taking on Brent.

Total's CEO responds to criticism of the super

Auto Date Saturday, February 11th, 2012

Christophe de Margerie, Total's CEO, believes that the quality of petrol must be paid in response to criticism of the super oil group, said Friday that more than 12 billion euros bé ; néfices.

These results raised a barrage of criticism, officials blaming Total left to accumulate this money on the backs of the French who see gasoline prices soar.

The former industry minister and UMP Estrosi regretted his part that the group in France that pays 2.5% tax on companies .

"We are conducting a policy of quality and hence prices rather expensive (…) But I'm still surprised that we are being pressured prices. If everyone was the same price, there would be more competition, "replied Christophe de Margerie Saturday in Le Parisien

……. .. It also emphasizes that the company's profits come not from the fuel distribution but "90% of oil production."

On France

FYI, the CEO said that Total has only 20% of the market in France. "This is not Total all by himself that can bring down prices at the pump," he said.

For Chistophe de Margerie "is the wrong debate" and "we must look at the problem of people who have problems short of living standards and treat it as such".

About the weakness of the tax in France, in Le Parisien it ensures that Total has always paid "substantial taxes" in France, although in recent years the group has not paid the corporation tax "because there was total loss."

"This year I have good news, we will pay 300 million corporate taxes with a further 800 million in other taxes," he says.

He added on France Info that the imposition of the group is low because there is "zero percent result in France". 

"Our business in France is mainly refining and refining loses money (…) We can not pay taxes on results that do not exist," he said.

"Annoyed" by the image of his group, Christophe de Margerie would like to correct: "Total is a myth, we must break it," he said before concluding: "To earn money, not born ; NEGATIVE, especially in times of crisis. This is an opportunity for our country ".

Total said Friday it would continue its efforts for investment to grow its production.

The third European oil company by market capitalization for 2012 foresees investments excluding acquisitions of approximately $ 24 billion (18 billion euros) against 20.6 billion in in 2011.

The Bank of France sees zero growth in first quarter

Auto Date Wednesday, February 8th, 2012

Economic growth should be zero in France in the first quarter of 2012, said Wednesday the Bank of France on the basis of its monthly business survey.

In January, the BoF confirmed predict zero growth in the fourth quarter of 2011.

If these assumptions prove, France would be off, just months before presidential and parliamentary elections, a recession (a term used when the product inside Gross contracts two consecutive quarters) feared by some economists.

The business climate indicator in industry published by the BoF was stable at 96 in January.

For services, the indicator fell by one point to 93. 

In industry, "forecasts indicate a continuation of the activity for the coming weeks," reads the statement said.

For services, "the forecast is a stability-oriented activity in the short term."

The rate of capacity utilization in manufacturing industry is almost stable, below its average level of long period.

Order books were close to the normal level, linked to a slight increase in new orders. Stocks of finished goods are kept close to the desired level and finished goods prices continued to increase slightly.

In services, the division recorded a slowdown in growth, due to a decline in temporary work and computer activities. The numbers have stabilized overall and prices have paused in their advance.

Al Jazeera has also got hold of Euro 2012?

Auto Date Saturday, February 4th, 2012

Al-Jazeera would be poised to strike (still) a great blow. She has acquired the TV rights for Euro 2012 would not count stop there. But what about the games of the France team? Players of the team celebrate their victory against Spain in Euro 2008 final against Germany.

The rumor is increasingly insistent. According Lepoint.fr, Al-Jazeera would have won the TV broadcasting rights of the Euro 2012 football against the duo of TF1 and M6. Interviewed by L'Expansion. Com, Uefa and the Qatari, however, refuse to confirm. Especially since the side of a large French chain, a source very close to the case provides that "nothing is done", and it remains "a third round of betting." Still, since Al Jazeera has gained a lot of the rights of the Champions League and Ligue 1, the rumor lends resources and unlimited ambitions. It is rumored in some newsrooms and this time she would put on the table between 100 to120 million for the next edition of the European championship. A sum again unconfirmed.

A "gift" to France Televisions?

Another victory for Al-Jazeera would not without asking the air broadcasting the matches of the team of France and the final. Qatari chain could therefore turn to organize a tender to determine the granting of this free program minimum. A chance for TF1 and M6 to limit the damage? Not so sure. According to Le Point, it would indeed be considered a "gift" to public service, which devalues ​​the rights. And to soften somewhat the "shock" due to the sensational debut of this new actor. Good image would indeed be surprising from a country that, since his arrival on the French market of football business, do research clearly not economic profitability in the short term.

In fact, the leaders of France Televisions have also met with Qatari counterparts, recognizes Bilalian Daniel, the head of sports department of public television. But "it was nothing to prepare for the Euro 2012. Just to stand as brothers," says he. As for a possible favor, he asserts that "it is absolutely anything. You can not sell off the rights like that, other chains might attack us for that."

The Europa League and Cfoot in addition to the Euro?

Anyway, the ambitions of Al-Jazeera will not stop the bidding for Euro 2012. Al-Jazeera is also still in the race to clinch the match of the Europa League where a third round of betting is also expected. She finally approached to buy back the rights of the League 2 along the chain Cfoot, owned by the Professional Football League (LFP). Because Al Jazeera has yet to find a channel to broadcast the matches she bought. Or just Cfoot must stop broadcasting on pay DTT in June … either at the beginning of the euro. Just a coincidence that some obervateurs to complete a recovery scenario …

An American accused of selling fake shares Facebook

Auto Date Friday, February 3rd, 2012

An American from Wisconsin was charged Thursday for selling fake Facebook actions by taking advantage of impatience about the upcoming IPO of the first global network community.

According to the complaint filed Thursday, Marianne Oleson would have claimed one million dollars in Facebook stock and have convinced several people to become the purchaser.

She was accused of 31 charges, including theft, forgery and misrepresentation.

Facebook announced Wednesday, almost eight years to the day after it was created by Mark Zuckerberg, its proposed IPO with the intention to raise $ 5 billion.

Marianne Oleson, according to the complaint, explaining that her daughter was linked to Mark Zuckerberg and had had access to titles Facebook. 

She would have paid in false actions including a contractor who performed for nearly 14,000 dollars of work on his house. The man would have also paid 10,000 dollars to buy other securities fictitious.

Another of his alleged victims, a sexagenarian, he would have four checks totaling about $ 40,000.

The IPO of Facebook, expected in May, should be the operation of this type the most anticipated of the year, and set a passing record for a spin start-up Internet.

At its IPO in 2004, Google had sold nearly two billion dollars of securities.

Auto Date Wednesday, November 30th, 2011

Standard & Poor's on Tuesday cut score of 15 large banking groups, mainly in Europe and the United States as a result of a major review of its rating criteria.

In total, the U.S. agency has reviewed the status of 37 major global banks. In particular, it confirmed the notes of BNP Paribas and Societe Generale."The lowering of S & P both on European and U.S. banks has undermined confidence in the markets," said Terry Pratt, IG Markets.

"This decision has overshadowed the progress made in Brussels on the issue of scaling the EFSF."

Another analyst, Guy Lebas of Janney Montgomery Scott, said that these banks will see their funding costs rise.

This month, officials from S & P indicated that they would gradually announce the ratings updated for more than 750 banking companies in the world, starting with the principal. New announcements are expected in the coming weeks.

For large banks, the rating adjustments are larger than S & P has provided for the entire industry.

Auto Date Thursday, November 10th, 2011

France announced Thursday it had called for an investigation to the European financial markets and the AMF after transmission error by Standard & Poor's a message on its sovereign rating.

The Minister of Finance, Baroin said he asked regulators to investigate the causes and possible consequences of the mistake, which he described as "quite shocking rumor of information that do not match any foundation".

"We will not leave any negative message through. It was a strategy, we have an appointment in terms of deficits that is fixed.It will not change one iota, "he said in Lyon on the sidelines of a conference of the economy.

Standard & Poor's has sent a message to some clients who might suggest that the rating of France had been changed.

The rating agency said in a statement that following a technical error, a message was automatically sent to some subscribers suggesting that the credit rating of France had been changed.

"This is not the case notes of the French Republic are AAA/A-1 + with a stable outlook, and this incident is not related to any monitoring activity notes," she said. "We are investigating to determine the cause of this error."