International Business News

On the eve of the 51th Paris Boat Show, the uncertainty is set at the manufacturers of pleasure boats in 2012, the sovereign debt crisis with little visibility, while the water sports market has improved slightly in 2010 / 2011.

French production increased 11% between September 2010 and August 2011, compared to the same period in 2009/2010, while the world market has increased slightly from 0% to 3%, said the Federation of Nautical Industries ( FIN).

"We are in a somewhat unique because our customers are there, the practice is growing, but at the same time we are in a period when accumulated outside the marine industry factors of concern," said Yves Lyon Caen, Vice President and President of the END of the supervisory board of Beneteau.

"The day there will be a release of the brakes, mainly psychological, the industry will rebound very important," he pointed out, however.

The rate of exports is 67% in 2010/2011, against 63.2% a year earlier.

The European Central Bank is considering to extend the maturity of its loans to banks in two or even three years, wanting to prevent the crisis in the euro area does not cause a "credit crunch" that would stifle the economy, we learn of sources familiar with the matter.

The ECB considers this unprecedented opportunity, while growing fears of an explosion in the euro area affect the interbank market, banks tend to reduce the number of establishments to which they lend.

For now, the maximum maturity of liquidity operations of the ECB is one year.A bank to finance two or three years from the ECB, it could be misinterpreted. "

Another source said that the ECB was considering the possibility of providing liquidity to maturity in the same vein through several short-term loans, pledging to keep such a line of credit for a period up to three years.

In June 2009 the ECB has proposed for the first time refinancing operations to one year. She repeated this year with a LTRO to 12 months in October and 13 months in December.

"Line of precaution and Liquidity" provides a credit of the member states to meet their emergency needs. This is one of the G20 commitments in Cannes.

The International Monetary Fund announced Tuesday, November 22 creating a new lending instrument to "break the chains of contagion" of financial and economic crises. The institution said in a statement that its board had given its green light to the "Line of precaution and liquidity" (LPL), which had been promised by the G20 at its summit in Cannes (South East of France) earlier this month. The TPA provides a credit of the member states to meet their emergency needs.It "can be used as a source of liquidity, allowing an agreement six months to meet the needs of short-term balance of payments," said the IMF.

This device replaces another established in August 2010, the precautionary credit line, which has a single member state, Macedonia. The difference is that the old line of credit was designed to be held in reserve, while the news is expected to eventually be used immediately. Countries that are eligible are the same: those with a crisis, and have sound economic policies and undertake to maintain. Executive Director of the IMF, Christine Lagarde, had said at the summit in Cannes that Italy could meet these criteria. To support this country, "the typical instrument we would use is a precautionary credit line.

The European Financial Stability Fund (EFSF) should be made operational as soon as possible, said Friday the president of the European Central Bank (ECB) Mario Draghi, showing some impatience vis-à-vis the slow progress to date this.

In a speech at the European Banking Congress, Mario Draghi said that the Heads of State and Government of the European Union had decided to launch the EFSF here over a year and a half and decided to leverage capacity four weeks ago.

"Where are we in the implementation of these decisions?" He asked."You must not wait any longer," he added.

The ECB president reiterated that the downside risks to the outlook in the euro area had increased and felt that this activity should moderate and weak pressure on prices, costs and wages.

Ubisoft has reduced its loss of more than half in the first half, picking a few benefits of the shift to online games and confirms return to operating profitability in the green in 2011-2012.

Highly anticipated by financial analysts on its increasing strength in online games and its focus on higher quality games, the French publisher said it had generated 30 million euros in revenue through "online" in the first half , an increase of 85% for a segment usually very profitable group which was until recently absent.

"We are on track (…

Paris fell 3.16% Monday, 2.77% London, Frankfurt and Milan 3.23% from 3.82%. Bank stocks were again the victims of market concerns about the future of the euro area. European shares closed sharply down Monday, October 31, 2011.

The Paris Bourse has lived a black day Monday, October 31, losing 3.16% in a market dominated by profit taking and taken over by doubts about the future of the euro area, despite the European anti-crisis plan. The CAC 40 dropped 105.79 points to 3242.84 in trading volume of 3.35 billion euros. Bank stocks fell by 8 to 10%.

Featured dax index of the Frankfurt Stock Exchange ended down 3.23% to 6141.34 points.German banks have drunk the cup: Commerzbank dropped 8.47% to 1.78 euro and Deutsche Bank, which has suffered from over exposure to the bankruptcy of U.S. broker MF Global, 8.60% to 30.35 euros .

The FTSE-100 index of London Stock Exchange main values ​​lost 158.02 points, or 2.77% from Friday's close at 5544.22 points. The total star of the Milan Stock Exchange, the FTSE Mib, fell 3.82% to 16,017 points. Among banks, Intesa Sanpaolo dropped 7.39% to 1.291 euros, Banca Monte dei Paschi di Siena 6.16% to 0.3383 euro and 5.67% to 0.848 UniCredit euro.

After the state budget, MPs are looking at the Social Security budget for 2012. Objective: To reduce the deficit by more than four billion euros. Some proposed measures to achieve this will give rise to heated debates. The Palais Bourbon.

Members look from this Tuesday the draft budget law for 2012 Social Security (PLFSS). The 2012 budget for a deficit Safely down 25% from 2011, to 13.9 billion euros. The improvement is mainly on account of the austerity plan announced in late August 11 billion by François Fillon.This plan includes an increase in payroll taxes on capital income, a rise in prices of tobacco and alcohol, and especially the doubling (from 3.5 to 7%) Tax on Contracts for Health "solidarity and accountable "for complementary health.

The measure, passed in September during the 2011 supplementary budget and expected to bring $ 1.1 billion in 2012, is widely criticized. It should indeed lead to higher rates of 4.7% on average in 2012, according to the French Mutuality who also warned of a "major risk" to access to care of the population. To appease critics, including relayed by the Socialist deputies, the government passed last week in committee an amendment raising the income ceiling to qualify for assistance from the state to acquire a complementary health.Currently, only 532,000 people benefit from "health check" as two million are potentially eligible.

Another tax has already been much talked about: the tax on sodas. The terms of this new beverage tax added sugar formed during the debate on the draft 2012 budget law a bone of contention between MPs and the government. The first wish to also apply to beverages with sweeteners in order to double the revenue, while the latter can be influenced by lobbying from Coca-Cola refused to tax all sodas, on behalf of the fight against obesity. Finally, the Assembly voted two taxes: one on the sugar added to soft drinks (two cents per can) and on drinks containing artificial sweeteners.Manufacturers of sweeteners and the National Union of soft drinks were outraged.

Right and left opposed to lower sickness benefits

Among the steps that are to vote, that reforming the calculation of compensation for the disease is probably the most criticized by the left but also from the right. The government has decided by decree, applicable from 1 January 2012, the per diem currently 50% of gross salary would increase to 60% of net wages. A key, 220 million of additional revenue for health insurance. Seven million French are concerned, first 30% of employees without a contract contingency.This measure would reduce from 40 euros per month for an employee paid at minimum wage and 85 euros for a frame.

There is no doubt that MPs from all sides – including the UMP president of the Committee on Social Affairs, Pierre Mehaignerie, and the General Rapporteur of the Social Security budget, the UMP-Yves Bur, who unsuccessfully opposed the measure in committee, will return to the load session. Especially since they have already voted, in committee, a compensation: submit to payroll benefits of breach of employment contract if they exceed twice the maximum Social Security, or 73,000 euros.

For another battle: the project promoted by the budget minister, Valérie Pécresse, to submit to the CSG compensation for parental leave.MEPs decided in committee and unanimously not to retain the provision that the expected return is 140 million. But the government could push through. Finally, an amendment tabled today by the UMP deputy Philippe Meunierne, co-signed by 67 deputies, should also lead to heated clashes between the majority and the opposition. This is the book Solidarity allowance for the elderly (minimum age) only to "French, European and foreign nationals who fought for France".

This allocation – 742.27 euros per month for a single person and 1181.77 euros per month for a couple-cost 612 million euros a year. In the statement of reasons for the amendment, argued that Philip Meunierne of 70,930 recipients, 22,803 are foreign nationals outside the European Economic Area.The deputy of the Rhône amounts to "more than 200 million" euros savings resulting from the adoption of the amendment.

The Slovak government resigned and the main opposition party agreed Wednesday to support a strengthening of the European Financial Stability Fund (EFSF) on the occasion of a new parliamentary vote by Friday.

The leaders of three of the four parties in the coalition government met with the leader of Smer, following the rejection by members of the EFSF reform and the resignation of the government of Iveta Radicova, which was liable the vote.

Of the 17 Member States of the euro area, only Slovakia has not yet ratified the plan that strengthens the powers of the EFSF to fight against the debt crisis.The green light 17 is required for its entry into force.

The Smer, which supports the EFSF in principle, abstained from the vote, causing the development of minority government. A new vote in Parliament to be held by no later than Friday, said the leaders of the majority party, the Slovak Democratic and Christian Union (SDKU), and Smer, Robert Fico and Mikulas Dzurinda.

"We decided that during the parliamentary session (Thursday), we will work on a proposal to shorten the election period to conduct an election on March 10.Immediately after, tomorrow or Friday, we will discuss proposals related to EFSF, "said Mikulas Dzunrinda, who was foreign minister of the government resigned, at a press conference.

"With this agreement, and the laws associated EFSF may be approved either tomorrow night or Friday morning at the latest," said Robert Fico.The vote, he added, "will take place immediately after the adoption of the constitutional law on holding early elections in March 2012."

The Smer remain in opposition until the deadline of March.

The increase in lending capacity of EFSF to 440 billion represents a contribution of 7.7 billion euros in Slovakia.

"RAPID ADOPTION"

The day after the rejection of the text, the presidents of the European Union and the European Commission, Herman Van Rompuy and José Manuel Barroso, urged Slovakia to approve as soon as possible the expansion of the EFSF.

"We call on all parties in the Slovak Parliament to overcome the short-term political considerations and use the next opportunity to quickly adopt a new agreement," they wrote in a joint statement.

"We remain confident that the Slovak authorities and the Parliament are well aware of the centrality of having a stronger European support fund to preserve the financial stability of the euro area.And this in the interest of all countries have adopted the euro, including the Slovak people. "

Under pressure from its European partners, President Ivan Gasparovic, who must nominate the next prime minister, cut short a visit to Asia and is expected to return to his country Thursday.

Iveta Radicova asked Mikulas Dzurinda, the head of SDKU, to initiate discussions also involving two smaller parties in the governing coalition.

The Freedom and Solidarity Party (SAS), the fourth component of the coalition that refuses EFSF, will not take part in the new round to break the deadlock.

The Sas had refused to ratify the European level, in accordance with the position of its leader, Richard Sulik, who estimates that less wealthy countries in the euro area do not have to incur expenses for the rich as Greece .

The group LVMH said on Thursday replaced by Francis Morel Nicolas Beytout to the general direction of Les Echos.

Nicolas Beytout, former managing editor of business daily, was appointed in 2007 after the takeover of the newspaper by the world leader in luxury.

He became editorial writer "for all group titles," said LVMH in a statement.

After weeks of rumors about a possible departure of Nicolas Beytout, LVMH has finally passed the act, while the newspaper Les Echos recorded losses for the second consecutive year.

"Nicolas Beytout is punished for his bad management," they say internally to Echos, where writing is concerned about his appointment as a columnist.

"We know its proximity to Nicolas Sarkozy and the ethical charter signed by the shareholder recognizes the need for a non-partisan editorial in the newspaper," says one.

Les Echos journalists are scheduled to meet Friday morning at a general meeting to discuss the appointment.

The group, in addition to the Les Echos newspaper, magazine Enjeux-Les Echos, Investir, Connaissance des Arts and the station Radio Classique.

General Manager of Le Figaro from 2004 to 2011, Francis Morel was the architect of the development of internet newspaper, owned by the Dassault family, and the revitalization of its sales.

Over a third of French say they have experienced "a situation of poverty" at least once in their lives, according to an Ipsos for the Secours Populaire. The respondents considered 92% as a "poverty" the fact of "regularly experience significant difficulties in obtaining a healthy, balanced diet."

Over a third of French (35%) say they have experienced "a situation of poverty" at least once in their lives, a proportion rising, says an Ipsos for the Secours Populaire announced Thursday. This rate of 35% is seven points higher than in the previous survey in 2010.

Nearly one in four French people (22%) also indicates that it is "ever had (to) say, at a time of (his) life, that (he was) on the verge of a situation poverty ", but he finally experience it.

Sign considered "alarming" by Secours Populaire, "young people are increasingly concerned", "ages 15-34 are almost a third of French (29%) who have experienced job insecurity." "They were only 22% in 2010."

And 85% of respondents believe that "the risk (their) children know one day a situation of poverty are higher than for (their) generation" for 50% risk is "significantly higher" for 35% they are "slightly higher". Only 11% consider them "lower".

The French set the poverty line at 1,031 euros per month for a single person, a figure "stable" compared to 2010, "a little below the minimum wage (1070.76 euros net per month), but always" superior to 954 euros the official poverty line calculated by INSEE. "

The respondents considered 92% as a "poverty" the fact of "regularly experience significant difficulties in obtaining a healthy, balanced diet." But they are also likely to discuss the fact of not being able to "send their children on holiday at least once a year" (73%) or not being able to "access goods or cultural activities and entertainment for himself or family "(71%).

Survey conducted by telephone August 19 and 20 with a sample of 1,016 people representative of the French population aged 15 and over, by the quota method.