L'Oreal, the world of cosmetics, said Monday the end of the term of a director of Liliane Bettencourt, replaced the board by one of his grand-son, John Victor Meyers.
The latter, aged 25, is a member of the supervisory board of the family holding company Tethys since January 2011.
Liliane Bettencourt, heiress to the group, is 89 years old. The candidacy of his grand-son will be submitted to L'Oréal shareholders at the next general meeting on 17 April.
Britain's International Power, a subsidiary 70% of French GDF Suez, said Wednesday that it would be difficult to achieve its earnings target for 2013 due to lower prices in the gen eration of hydroelectricity in Brazil.
For 2011, International Power displays a current operating profit up 9% to 3.1 billion euros, with an increase of 18% in Latin America. This region accounts for more than a third of operating income group.
The gross operating profit (EBITDA) for the year totaled 4.3 billion euros.
Obtain additional one billion euros will be difficult, says the group.
"After the high levels of hydroelectric generation in Brazil, prices underpinned by the free market are now lower than in 2011," the group in a statement.
"Without an adjustment of these prices, the impact on our project will make it difficult Jirau our goal of an RBE of one billion euros in 2013 from projects under construction."
In exchange, the value was down 3.4% to 331 pence in the morning. It is the largest decline in values of the FTSE.
"One wonders if there will not be only 0.8 to 0.9 billion euros of growth that will be achieved," said Angelos Anastasiou, an analyst at Investec. "Instead of an EBITDA of perhaps 5.3 billion euros in 2013, it might finish at 5.1 to 5.2 billion euros, that is, ; say down 2% to 4% with similar declines in EPS. "
Earnings per share for fiscal 2011 to 27.6 pence, slightly higher than the expected 27.2 pence, according to the forecast of analysts provided by the company.
This year, says International Power, growth will be supported by new plants came on stream at the very end of last year and new capabilities that should be operational later in 2012.
Businesses can use reduced hours for a period of two months, instead of three months minimum as far. Moreover, Unédic will compensate the employee at the first non-working hours and not from the 51st hour. Agency employment center in Nice
The social partners have completed Monday, February 6 negotiations on simplification of the partial unemployment, desired by the government, lamenting the CGT still not be reached "unification" of different compensation schemes. Following a meeting at the Paris headquarters of the MEDEF, the CFDT, CFE-CGC, CFTC and FO said they would sign the draft agreement inter-professional, the CGT had not yet made its final decision. The side of employers, the MEDEF, UPA and CGPME should also give their approval.
Despite disagreements, all stressed the need to be pragmatic in these times of crisis, short-allowing companies to cope with downturns without fire. This agreement simplifies one of the two systems of compensation available in case of partial unemployment: the partial activity of long duration (APLD), far less used than the conventional allocation. Businesses will be able to use the APLD for a period of partial unemployment for two months instead of three months minimum as far.
Moreover, Unédic will compensate the employee at the first non-working hours and not from the 51st hour. Thus the State and indemnify the employee Unédic up to 7.23 euros in the first hour (7.84 euros for companies with fewer than 250 employees), against 5.23 currently, some welcome support for the employer.
The company is committed to keeping the employee twice the time
The agreement "simplifies the device", especially for small businesses, said the negotiator of the CFDT Lawrence Berger. "We are still far from what is sought, namely the unification of devices for partial unemployment," lamented his side Maurad Rabhi, the CGT, the first French union. Moreover, "nowhere in this text, it was possible to the consideration that was negotiated in 2009, which was to preserve jobs," he said.
When a company uses the APLD, she is committed to preserving the jobs twice the time during which employees were to short. For example, an employee experiencing an inactivity of three months, the company agrees to keep at least six months. This agreement will be tested until September and will be given a suite "in light of experience." To set this up, Unédic will release 80 million euros, which will add 40 million remaining on a budget of 150 million dedicated to short released in 2009.
This text comes as the government announced last week the elimination of prior administrative authorization. So far an employer who wanted to have recourse to short should apply to the administration which had 20 days to notify its decision. During the "Social Summit Emergency" on 18 January President Nicolas Sarkozy announced measures against unemployment, and including € 140 million to boost part-time work.
Enrollment managers and skilled workers have been growing. In contrast, unskilled workers and employees are in decline by 5% and 7.3%. Officers, employees
The temporary employment declined by 0.4% in October compared to October 2010, with a decline in all major sectors except industry, according to the barometer Prism job on Monday. Temporary employment is considered an indicator of future trends in the labor market.
In October, the number of executives and middle management and skilled workers have been growing 5.9% and 5.5%. In contrast, unskilled workers and employees are in decline by 5% and 7.3%. If the industry increased its use of temporary staff in October compared with October 2010 (1.8%), the other major sectors were down: construction (-0.6%), transport (-0.8 %), services (-4.4%) and trade (-4.5%).
These national statistics mask large regional differences: two regions stand out in terms of increase, Midi-Pyrenees (12.5%) and Haute-Normandie (+10.6%). However, in the Ile-de-France, the enrollment decline is temporary 7.3% in October over a year. There was also a decrease in Limousin (-7%) in the Languedoc-Roussillon (-6%) in Provence-Alpes-Côte d'Azur (-5.5%), Britain (-4.5%).
This barometer is determined by the group Umanis from the statistics provided by a panel of temporary employment representative, as Prism over 80% of temporary employment.
Democrats and Republicans were unable to agree on a plan to reduce U.S. debt, which has just reached 15,000 billion. The reasons and consequences of this blockage. The President of the United States Barack Obama
Another failure of the Congress on U.S. debt. The "super-committee" responsible for reducing the debt of the United States announced Monday does not come to an agreement between left and right, after two months of effort. Congress had established a commission charged in August to decide on a plan to reduce debt. Composed of twelve members of Congress – six Republicans and six Democrats – the "super-committee" had a debt relief that comes from abyssal exceed 15,000 billion (you can see it evolve in real time on the site www.usdebtclock. org). The twelve were elected and agree on a plan to save 1,200 billion over ten years.The six Democrats proposed a plan for 2900 includes 1,300 billion billion tax increase, the six Republicans on the other hand opted for a plan of 2,200 billion euros, with "only" 200 billion of tax increases. Never reach a consensus after two months of negotiations.
Why the lock?
This blockage occurs less than a year of presidential elections scheduled for November 2012. "We are fully retracted into the political debate for 2012, especially with the right wing of the Republican Party who has taken a lot of power in the party," said Christine Rifflart Economist at OFCE. "And the Republicans have an interest in playing the firmness vis-à-vis Barack Obama that it is out of question to pass up the deficits."
For it is these Republicans who blocked the process.
The negotiations in Washington to skate "super-committee" Parliamentary expected U.S. fiscal consolidation, which has only four days to reach agreement.
The 12 members – six Democrats and six Republicans – of the commission to make public their proposals Monday before the vote on November 23.
Democrats and Republicans say they do not want to concede on their principles, but continue to negotiate behind the scenes. Veterans of parliamentary jousting believe that an agreement will be, as often found in the last hours.
"I think the super-committee will not surprise us.They will either come to an impasse, or a minimal agreement, "said the president of the St. Louis Fed, James Bullard.
The public debt of the United States has taken the helm Thursday of 15,000 billion.
The twelve elected officials must propose measures to reduce the deficit of a minimum of 1,200 billion (890 billion) over the next ten years.
If they fail, Washington's budget will automatically be reduced by this amount, the budget cuts on an equal military and federal programs. This principle was included in the agreement reached on July 31 by the two parties to raise the U.S. debt ceiling.
The Republicans, supporters of a strong Pentagon, seem most concerned about this prospect.
Members of the government increasing returns to defend their efforts to strengthen the note "triple A" of France against the doubts of financial markets and opposition critics on their management since 2007.
The pressure on France continued Wednesday, the yield spread between German and French debt is now at record levels, as insurance against default risk, credit default swaps (CDS).
The Franco-German spread fell slightly to about 180 basis points, remaining at levels not seen since the early 1990s, and the level of CDS surpassed 225 points, up sharply since early November.
At about 3.6%, the yield of French loans to 10 years was lower than in April, but jumped nearly 50% since its low in September of 2011.
The finance minister, Baroin, assured that France would hold its target of reducing the deficit even if growth in 2012 was two times lower than expected.
"Even at 0.5% growth, we might face," he says in an interview with Les Echos on Wednesday.
France has committed to reduce its public deficit to 5.7% of domestic product in late 2011 to 4.5% end of 2012.
The European and American markets regain ground Wednesday afternoon after their declines of the previous day, in the hope that the monetary policy meeting of the Federal Reserve announced new measures to support the economy.
Gains are limited by fears that the referendum of Greece on its financial rescue plan compromise resolution of the debt crisis in the region, as well as the concern about the contraction of manufacturing activity in the euro zone, even stronger than initially estimated.
"Whichever way you look, the decision of the Greek Prime Minister to announce a referendum on the bailout is a mistake.
The Tokyo Stock Exchange ended down 1.7% Tuesday, grim company results and revived concerns about the Europe that encouraged profit-taking on gains in recent days.
The Nikkei lost 152.87 points to 8,835.52 and the Topix, larger yielded 9.56 points (-1.25%) to 754.5
"The shares are under pressure, mainly because so many reports contain results of bad news," said Yutaka Shiraki, a strategist at Mitsubishi UFJ Morgan Stanley Securities.
Suffering like other exporters in the rise of the yen, Panasonic dropped 5.07% after saying the day before an anticipated annual net loss of 420 billion yen (3.8 billion), the highest in a decade he attributes to a strong increase in restructuring costs and a lowered demand in Europe and the United States.
Japan intervened unilaterally on Monday the currency market to try to curb the upward trend of the yen after the Japanese currency had reached a new record high against the dollar.
But some analysts believe that the strength of the yen has already been reflected in the positions of many investors.
Beijing could become an important contributor to the relief fund of the euro according to European diplomats. The use of third party investors will be part of discussions at the EU summit this evening. Chinese Premier Wen Jiabao at the "Forum Summer Davos" in Dalian City, September 14, 2011.
China is ready to replenish the European Financial Stability Fund (EFSF), the main instrument to stem the debt crisis in the euro area, said European diplomats Wednesday before a summit of EU leaders in Brussels. "China is to" replenish the fund by creating an autonomous investment ("spin-off"), said a diplomat speaking on condition of anonymity. Other emerging powers (Brazil, Russia, India, China, South Africa) have "not yet" indicated whether they participated in the fund, he added.
Argentina has made clear it would not participate in the rescue of the euro area, said another diplomat. The diplomats did not specify how high should reach the participation of China. The Director of EFSF, Klaus Regling, is expected in Beijing Friday, after the summit, also announced the Delegation of the European Union in Beijing.
The spokesman for the Chinese Foreign Ministry, Jiang Yu, said Wednesday that China had "an open mind" and would "talk to the Europeans of many ways to cooperate." China has reiterated several times in recent weeks support for the euro area. It was unclear what would be the interlocutors in Beijing by Mr. Regling and no official was immediately available to the Ministry of Finance or the central bank.The Heads of State and Government EU could decide Wednesday night to extend the Emergency Fund of the euro area to external investors.
The markets expect strong action from the summit of heads of state and government of the Monetary Union in Brussels, which will open in the evening after a summit of 27 countries of the European Union. But hopes of a big deal are slim because of persistent differences between Europeans. EU leaders must avoid at all costs including the contagion of the Greek debt to Italy and Spain, especially by finding a way to increase the firepower of the EFSF, with a capacity of 440 billion deemed insufficient to meet the crisis.
On Wednesday, the China Daily said that emerging markets and including China agreed to participate in a European relief fund via the International Monetary Fund (IMF). Citing an unidentified source "close to the European decision-makers," the newspaper stated that "the agreement (the emerging) could be included in the final document of the summit of European leaders", if the Brussels summit decides to open the fund to of external public and private investors. In this case, China, which already holds some 500 billion of European sovereign debt, according to French and German experts, and is sitting on a huge cushion of foreign exchange reserves of 3,200 billion, would be well positioned to invest in the EFSF.The EFSF must be reinforced, either by him to carry the debt issued by European countries, either through an expansion of the means at its disposal, including through the use of outside investors.