International Business News

The leader of Conti was sentenced to 1200 euros on appeal. The CGT union had already been sentenced to a fine of € 4000 for the sacking of the sub-prefecture of Compiegne in 2009. He then refused to submit to a DNA sample.

The Court of Appeal of Amiens Friday condemned the CGT trade unionist of the old factory Continental, Xavier Mathieu, 1,200 euro fine for refusing his DNA by police.Une fine of 1,000 to 1,500 euros had was required.

The union was acquitted at trial in June 2011 by the Criminal Court in Compiègne. The prosecutor, who had requested a one month suspended prison sentence, had appealed his acquittal. "I am condemned (…), which means they can point back next week and ask me again my DNA and retry me if I refuse," responded Xavier Mathieu, graying beard, wearing a red sweater hoodie and jeans, after deliberation.

The facts date back to the conviction of Xavier Mathieu 4000 euro fine by the Court of Appeal of Amiens for their involvement with workers from Continental to the destruction of the sub-prefecture of Compiegne in April 2009. He then refused to submit to the taking of DNA fingerprinting, as required by law.

The Clairoix tire factory, where he was employed, was closed in early 2010, resulting in the elimination of 1,120 positions. In spring 2009, a labor dispute for several months, including Mr. Mathieu was the emblem-had allowed the workers to get severance extralegal.

"The worst is not fine is to be treated delinquent"

Created in June 1998 to identify DNA from convicted for sexual offenses final, the national computerized DNA (FNAEG) was extended in 2001, 2003 and 2010 to many other crimes. "This is not fine the worst thing is to be condemned, to be treated as a criminal. offenders, it is the leaders of Continental. They are not even thugs, they are criminals. I wanted that (they) are tried for the consequences of closing the box, the economic disaster on people's lives, "he told Mr. Mathieu reporters.

"We are struck by the rather categorical motivation of the court and the refusal to integrate clear and explicit refusal (DNA test) of Xavier Mathieu in the context of social struggle," said Pascal Moussy, collaborator Marie-Laure of Dufresne-Castets, counsel for Xavier Mathieu, in the absence of that ci.Estimant that the judgment of the Court of Appeal of Amiens was "regression," Pascal said that Moussy it would "look closely if it deserves an appeal." "What Xavier (Mathieu) in the same file as rapists and murderers, it is shameful," he told AFP Pierre Summoned, one of about 100 "Conti" came to support the union as it exits the court.  

"Normally, if all goes well, I would not have to go to the Supreme Court because my file will be removed from the file FNAEG (…) as if it were committed" in Amiens in the trial of the union, four candidates Left for president – Eva Joly (EELV), Jean-Luc Melenchon (Left Front), Nathalie Arthaud (LO) and Philip Poutou (NPA) – Xavier Mathieu recalled.

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Burberry reported Tuesday a 26% increase, as expected, its adjusted earnings in the first half of fiscal 2011-2012, thanks to sustained consumption of tourists around the world, and confirmed its annual forecast.

"We remain mindful of the uncertainties and ready to respond to them," said in a statement, however, the British manufacturer of waterproof leather goods founded 155 years ago.

It posted a profit before tax and exceptional items of 162 million pounds (190 million euros) over the six months to September 30, 2011, against an average estimate of analysts polled by Reuters of 159 million.

Last month, the group announced quarterly sales exceeded expectations, saying not yet have found the slowdown in demand despite uncertainty about the evolution of global growth.

Burberry has confirmed its ambition to increase its network of outlets around 15% in the second half, including the opening of eight to ten stores in places like China and Latin America, and that a new "flagship" in Paris.

The values ​​of luxury far seem to defy the crisis, but the uncertainties in this highly cyclical, the question remains whether the growth in Asia will escape the crisis.

France is the most fragile countries rated AAA. The elections also reduce the room for maneuver in terms of austerity. The France remains very solvent, judge Bruno Cavalier, chief economist at Oddo Securities. But a drop in spending is essential. The 7 World Trade Center, the headquarters address of the credit rating agency Moody's in New York. You have no doubt about the solvency of France?

No. On many occasions, the rumor current trading rooms said that France was about to lose its AAA. To date, all the rating agencies have reaffirmed that the French note kept a stable outlook. Before the elections, it is this perspective which may be changed more than the note itself. However, the situation of French public finances requires quick adjustments.In addition, the French specificity is that elections are before us.

What the next presidential election is she at risk?

Electoral constraint involves two risks. First, there is a risk of inertia or paralysis pre-election, which forced the choice of economic policy in half measures or even, as we have seen in the extreme case of the United States in malfunctions. In France, the measures announced on August 24 to put the deficit on track were chosen with the clear objective to give no pretext for the corporatism of the public to take to the streets to defend its "social gains". Almost all of the 12 billion euros in savings is to increase the tax burden in a country where government revenues are already over 50% of GDP.

Paris Mayor Bertrand Delanoe announced Monday his intention to devote one third of the investments of the city housing next year. Housing is the recurrent problem of large cities.

One third of the total investment in the city of Paris will go to housing and 6,000 housing units will be funded in 2012, announced Monday the mayor of Paris Bertrand Delanoe in Paris with the Council in 2012 budget guidelines based on "solidarity". Before "crisis," said the mayor of Paris, the city "will intensify its efforts this year to promote solidarity and innovation."

As for 2011, "more than 2 billion euros" will be devoted to solidarity: "It is necessary to preserve and develop the diversity of Paris' Bertrand Delanoë argued, often accused by the UMP Paris to promote "most helpful and easier."

"Housing is about a third of our total investment. 6,000 housing units will be funded in 2012," Mr. Delanoë has announced. For the poor, "we will enhance our efforts to create, by 2014, 2,000 places of emergency shelter," pointing out that this type of accommodation 1700 "have already been funded." He also indicated that 940 nursery places would be funded in 2012 and the extension of the tramway to the door of the chapel is completed.

The UMP denounced the tax increases

On behalf of the UMP, Mayor Jean-Francois Legaret I found that these budget guidelines reflected "disarray" and denounced a "hype tax". "You have increased taxation in all its forms" said Mr Legaret who cited the "increasing every conceivable tax levied on Paris.""During that time, transfer taxes, which are not an adjustment value, represent an 1/7th of all revenue of the city and will likely reach one billion euro of revenue" he said .

For his part, chairman of the NC Yves Pozzo di Borgo attacked the "tax snake that chokes strangle businesses and households," and cited a study of the Paris workshop planning (APUR), which he , has "made the finding of an increasing gap in the territory with a poverty rate of 13.9%, to a regional average of 12.1%." The 2011 budget of the City of Paris in the amount of 7.7 billion euros, is the most important of all French communities.

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.

The three main French banks signed Wednesday in mid-session the worst stock market performance of the European banking sector, some operators are continuing to worry about their access to liquidity despite the increase in denials.

At 12:45, while European bank index fell slightly by 0.56%, BNP Paribas, Credit Agricole and Societe Generale dropping 5.58%, 2.91% and 2.57% respectively.

Some analysts explain the sudden drop in BNP Paribas by the fact that it had best withstood the market turmoil of recent weeks, the course has not, unlike its two competitors, its lowest market in 2009.

For BNP Paribas, which is currently rated at nearly 24 euros, the lowest in 2009 had been hit in January to 20.08 euros.

Christophe Nijdam, an analyst covering the banking sector in Alpha Value, says that fears about the liquidity burden on French banks and the various interventions of politicians and industry have failed to appease the spirits.

Frédéric Oudéa, CEO of Societe Generale and president of the French Banking Federation (FBF), said Wednesday in an interview with Le Figaro, that the situation was "under control" in French banks' liquidity.

"In addition, information Tuesday on fears of withdrawal of deposit of large companies can have a snowball effect," added Christopher Nijdam.

The German group Siemens has withdrawn funds beginning in July of Societe Generale, a source told Reuters that it was due to the underperformance of its investment, but the news was interpreted by some in the market as indicative of the financial health of the bank.

"Foreign investors will not touch these actions (BNP Paribas and Societe Generale) because they are afraid that there are skeletons in the closets of these banks," commented one Paris trader, adding that in his opinion such fears are "totally unfounded".

The decision of Standard & Poor's to lower the sovereign rating of Italy, although it was expected by the markets, also helped fuel the fears of contagion from the crisis of debt in the euro area.

JPMorgan, the second U.S. bank by assets, falling sharply Tuesday on Wall Street, as the entire banking sector, investors fearing prosecution series on the subject of mortgages sold to investors during the housing bubble.

The federal agency that oversees the mortgage market in the U.S. (Federal Housing Finance Agency) filed a complaint Friday against 17 major financial institutions, having sold more than $ 200 billion of bonds backed by home loans by presenting these operations in one day wrong.

These bonds are now owned by the giants Fannie Mae and Freddie Mac.

JPMorgan gave the title 3.5% by 1700 GMT, Bank of America gave 3.4% and 2.8% Citigroup.The banking sector index fell by his side at 1.97%, underperforming the S & P 500 down 1.8%.

Analysts said investors feared a flurry of lawsuits related to the identification of mortgages become toxic.

The title of Bank of America reached $ 6.80 during the session. Its course is returned to a level below the closing price recorded just before the billionaire Warren Buffett announced the acquisition of five billion dollars of preferred securities.

This transaction, announced Aug. 25, the title was boosted by 26%.

Guyenne et Gascogne reported Wednesday a loss in the first half, the franchisee of Carrefour have been penalized by its subsidiary Sogara whose accounts were affected by several non-recurring items.

In a statement, the group, which operates hypermarkets and supermarkets in the south-west of France and Spain, said he hoped the goal of an annual output "significantly" positive after a first half he considers disappointing.

"During the second half, the three entities Guyenne et Gascogne (the parent company Guyenne et Gascogne, Sogara and Centros Comerciales Carrefour, Ed) will step up their efforts to reduce distribution costs," the company said.

In the first six months of the year, the group posted a net loss of 1.335 million euros against a net profit of 6.382 million euros a year earlier.

Sogara, the loss amounted to 7.898 million biannual euros, against a profit of 8.026 million euros, was penalized by the difficulties of the consumer electronics sector, which has added a voluntary sacrifice margin due to a policy aggressive promotional explains Guyenne et Gascogne.

"The net result was affected by accelerated depreciation made important part of the transformation of Planet Carrefour stores, as well as a penalty tax on VAT litigation," added the company said that the first half of 2010 was received a substantial capital gain on disposal.

At the Paris Stock Exchange before the announcement of interim results, the action Guyenne et Gascogne ended up 3.35% to 9.76% on the gain since the beginning of the year and more than 590 million market capitalization of the group.

The government target of 2% growth for 2011 in France will be difficult to achieve because of poor economic health of the United States said Monday the president of French employers Laurence Parisot.

"It's difficult simply because the United States are not going well, this is one of the main economic engines of the planet. This is something that seems very difficult to achieve," she said of France 2.

The president of MEDEF was speaking after the publication of statistics showing that French growth was zero in the second quarter, which suggests that the figure for the year would be around 1.4% or below , according to economists.

Laurence Parisot, however, wants to be optimistic."Growth is something that is earned every day through work, innovation, boldness, creativity. If we do not show discouragement, we can continue to get these points of growth," she said.

The Tel Aviv Stock Exchange, one of the first to open since the downgrade of U.S. sovereign debt, plunged 6% on Sunday morning.

Transactions have started almost an hour late because the automatic interruption began on when the exchange of pre-market fell more than 5%.

For the first time that these "circuit breakers" trigger from 21 September 2008, after the bankruptcy of Lehman Brothers, said a spokesman for the Exchange.

In mid-session, Tel Aviv 25 index showed a decline of 6.2%.

Stock traders fear that the United States, indispensable economic partner of Israel fall into a recession, which could promote the degradation of the sovereign rating by increasing the cost of borrowing.