Economic Analysis and Indicators

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.

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European shares rebounded Friday after several sessions of decline, especially after a Reuters information that the Member States of the European Union are considering, as part of the future permanent mechanism for stability of the euro area, to give to involve the private sector in the financial rescue of a country.

This discussion is part of wider ongoing trade reform on the European Treaty, on which Nicolas Sarkozy and Angela Merkel agreed Thursday in Strasbourg, it was said sources familiar with the matter.It does not however affect the participation of banks and insurers in the second EU aid package to Greece, where they pledged to remove 50% of their claims to the country.

The information bounces European markets, which operated in the red after a disappointing auction of Italy.

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.

European shares are stepping up their gains, resulting in the CAC 40 index beyond the resistance of 3,300 points in markets relieved after the agreement reached in the night on the Greek debt restructuring, capacity building fund support the euro and the recapitalization of European banks.

In Paris the CAC 40 is doped by the bank and Axa, up 12%. At the top of the index, Crédit Agricole flies by 21%.

Dexia wins more than 10% at the resumption of trading of the security.Constraint to the dismantling early October due to the debt crisis in the eurozone, the bank said Thursday that its capital requirements amounted to 1.7 billion euros.

PPR takes more than 6%, boosted by the announcement on the eve of a very strong sales growth in the luxury market in the third quarter despite a difficult economic environment.

The euro peaked at 7 weeks against the dollar at 1.4038. Traders refer to a new level of resistance around 1.4050 dollar.

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.

Alexander Juniac should take the management of Air France in January in favor of a reorganization of the Air France KLM with Pierre-Henri Gourgeon retain the reins, the Tribune reported Monday.

An informal consensus was reached on the name of the former chief of staff Christine Lagarde at Bercy and former deputy general manager of Thales, writes the business daily.

Reached by Reuters, Air France declined to comment on this information immediately.

The reorganization of Air France-KLM is to improve the effectiveness of the group and facilitate the integration of other companies, such as the Italian Alitalia.

Germany refused at the meeting of the Eurogroup to hire additional public funds to ensure financial stability in the euro area, as called for in the U.S. Treasury Secretary Timothy Geithner, said the Austrian Minister of Finance Maria Fekter.

"He stressed that more funds were needed to prevent the system (financial) is in difficulties.(Wolfgang) Schäuble told him it was very unlikely to be possible to weigh the burden on taxpayers, especially if the burden is imposed on those countries AAA, "she told a few journalists.

"In these countries, there is a desire to implement a tax on financial transactions (…) It (Geithner) was excluded," she said.

"I find it odd that even though the Americans have rights far worse than the euro area, they tell us what to do and when we give them a suggestion, they immediately say no (… ) I would hope that when they tell us how they see the world, they listen to what we have to tell them, "she said again.

Nearly a year after its recapitalization and the arrival of new shareholders, the world continues its transformation with the launch on September 23 a new offering of the weekend expanded and redesigned along the lines of its major competitors Anglo-Saxon.

Under the guidance of new leadership, the group returned in the first part of the year with a positive operating profit, driven by sales up 2.7% thanks to a particularly dense and news of an improvement the advertising market.

"Overall it's a good time for daily newspapers, which have long had been unable to utter these words," said chief executive Louis Dreyfus.

"The challenge we have is how we can ride this wave for that when she retires, that is to say, after the presidential elections, there is more healthy and better equipped to continue to develop, "he added.

In recent months, the group has thoroughly revised its teams – 15% of the workforce has been renewed – reduces costs and initiated the merger of its editorial web and paper.

The group now intends to undertake a period of "intensive investments," said Louis Dreyfus, which will be achieved first by launching a new offer for the weekend, significantly expanded the image of that offer Newspapers like the New York Times in the United States or the Guardian in Britain.

"We believe the weekend, readers are available. There is a flaw in the French system of this view point, the supply of national French dailies, particularly the World is not enough" said Managing Editor, Erik Izraelewicz.

The newspaper dated Saturday and will double in size to incorporate three new books entitled "Science & technology", "Sports & Fitness" and "Culture and ideas."He will be joined as a magazine today, the pagination will also be expanded to include giving more room for the photo.

The set will be available on newsstands for a price of 3.20 euros against 2.60 euros today.

The edition dated Sunday and Monday will in turn enriched with a notebook "Geo & Politics" for a price unchanged.

TOWARD DECENTRALIZATION OF PRINTING

This new offering, which represents an investment of one million euros over three months, will receive a draw increased by about 30% for launch with the aim to further increase sales and advertising revenue, a Louis Dreyfus said, without providing any targets.

The group also hopes to lead by the end of September on a solution for its subsidiary LePost.fr, deficit.

Discussions have been initiated for two months with Arianna Huffington, co-founder of the news site Huffington Post, to make a French edition of the U.S. site for a launch that could occur in the fall.

There remains the thorny issue of modernization of the printing group which records series of defections by customers, including the financial daily Les Echos, scheduled for November 2012, which should result in a loss of 30% of turnover business.

The group now plans to retain a single rotary printing plant in the Paris region who will take the bulk of the printing (250,000 copies) and to decentralize the rest based on five regional centers.

The objective considered imperative by management, is to ensure that the newspaper is distributed between 14:00 and 15:00 on most of the territory in 2012, Louis Dreyfus said, adding that discussions were still ongoing.

The reorganization of the printing press would have no impact on the distribution would remain assured by Presstalis.

Le Monde, who said he performed well in terms of advertising revenue in the summer months and September is an operating profit of 6.6 million euros for the full year, including a third party must be reinvested in the group.

The banks of the European Union do not need a massive injection of capital but the crisis of sovereign debt continues to pose challenges to the sector, said Tuesday the EBA (EBA).

"The EBA does not call for a major emergency recapitalization of the banks of the European Union," she says in a statement.

"Stress tests recently conducted by the EBA showed that European banks have significantly strengthened their position in terms of capital and that are able to withstand adverse macroeconomic scenarios," says ABB.

"This opinion has not changed by the new publications of exposure to sovereign debt."

Christine Lagarde, Executive Director of the International Monetary Fund (IMF) Saturday called on developed economies to act quickly against the risk of another recession and strengthen the equity of European banks.

Tuesday morning, the president of MEDEF, Laurence Parisot, strongly criticized the call Christine Lagarde to recapitalize European banks.

Registration for unemployment insurance in Britain in July posted their strongest pace since May 2009, according to official figures released Wednesday.

The unemployment rate stood at 4.9%, the highest since February 2010, against 4.8% in June

The number of job seekers who applied for compensation rose by 37,100 last month, announced the Office for National Statistics, far beyond the increase of 20,000 expected by economists.

By the standards of the International Labour Office, wider, Britain had 38,000 more unemployed in the second quarter, bringing the odds against unemployment on the ILO to 7.9%, while economists anticipating a figure steady at 7.7%.