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The battle really begins Tuesday pensions. Face-to-face? Eric Woerth, Minister of Labour in charge of the case, weakened, will defend his bill to the House in the face of opposition members reassembled. The same day, the unions united to call the French an opportunity to mobilize against the reform.

The stakes are high. The unions are convinced that the number of protesters – they drew between 800,000 and 1.9 million people on June 24 – will the government's response. "There will be many people because it is an important reform," confirmed Eric Woerth. But unlikely that the response along the lines of what the unions want. Claude Gueant, the secretary general of the Elysee, was very clear on this point yesterday on Europe 1.

"The background of the reform can not change," he hammered on the pretext that "this reform is necessary."And the right arm of the Head of State noted that "the government will certainly put forward during the debate" on the issues of "arduous, long career and polypensionnés. In short, the subjects left open to discussion after the presentation of the June 16 bill and whose unions should know the methods "in the course of the week." They should have an overview Tuesday evening as Eric Woerth is the guest log TF1. The objective is clear: give them a little time to think before their meeting scheduled on Wednesday afternoon to determine the appropriate action to mobilize.

Four active for a retiree

No question, therefore, to revisit the key measure of the bill: the passage of 60-62 years of age of retirement. All Western countries have reached the age slider to balance their pension plans.The diagnosis is the same everywhere: the combined effect of demographic changes and the lengthening of life expectancy is jeopardizing the future of our pensions. In 1950, there were seven active for a retiree in the OECD countries, against four to one today and two in 2050 for a payday loans. The crisis and the soaring deficits have made more acute the need for reform.

Solutions adopted everywhere? The increase in the number of years to reach a full pension and the decline of the legal age of retirement, is exactly the path followed by France, but in even greater proportions. Under pressure from the IMF, Greece has increased the number of installments for five years and passed by 2015 the retirement age to 63 years.Even shock therapy in Spain and Germany, where the retirement age will gradually wedge to 67 years.

Another trend is to align the system of women than men. This is the case in Portugal, Italy and Britain, where the difference between women (60 years) and men (65 years) will be removed and the age increased to 68 years in 2045!

Other foreign education reforms: the relative political consensus in which they were conducted. The German reform of 2007 has been adopted by a large coalition including conservatives and Social Democrats. "The advantage of the German system is that it is very empowering," says economist Jacques Bichot. Everyone chooses their dates of departure and receive a pension based. "

Same in Sweden, where the age limit has simply vanished.In the Scandinavian system, each has a "virtual account that accumulates points throughout the career. Each year, the Swedes are an orange envelope that indicates the amount of their pension calculated on the basis of life expectancy, economic growth and respect for the system's financial balance.

Needless to say that France is an exception with its 60 years of age and 58.7 years of actual age, the lowest in the OECD. Better, it is also in France that we spend as much time in retirement: 24.5 years in 2007, against 19.8 on average in the European Union and 14 in Japan, the lowest.

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The French are always prone to develop an ecologically minded when it can bring them money. Regarding photovoltaics, however, investment should soon be as attractive.

The Ministry of Sustainable Development and Bercy warned on Monday evening Regulatory Commission of Energy (CRE) and the Higher Council of the energy of their intention to decline by 12% the purchase price by EDF of the photovoltaic electricity. The professional plans and large facilities will be affected by this adjustment of tariffs, not small household below 30 square meters. An order to this effect will be applicable on 1 September. In taking this decision, France follows the footsteps of Germany and Spain, who have already made adjustments."Today, France is far ahead of the implementation of the objectives of the Grenelle Environment. The rates remain favorable, but the cursor is repositioned slightly to avoid the deadweight speculative, "said the entourage of the Minister of Economy Christine Lagarde.

Recall the situation. To encourage the development of environmentally friendly energy sources within the framework of the commitments of the Grenelle -23% renewable energy by 2020 – and to encourage installation of photovoltaic panels, the state has allowed those who invested able to sell to EDF electricity and produced on the basis of a regulated rate for the amortization of attractive features.This incentive involved both individuals who were installing equipment homemade-like solar panels on the roof of a house, the professionals that integrate PV in buildings, on roofs of car parks or supermarkets.

Only here: end of 2009, anticipating a decline rates announced, the French rushed to ask EDF to buy their electricity photovoltaics. The total power demand on the year was 50 times higher than in 2008. This has caused both a queue and a financial risk. Forcing the government to take early as January 2010 emergency measures, as well as adjustments of rates of transitional arrangements to handle the influx of applications.In the wake of last March, Bercy had asked the Inspectorate General of Finance (IGF) to identify problems so that such a bottleneck does not happen again. Today, 60,000 applications are pending, mostly for small installations.

60 euros per year

The decision to reduce tariffs by 12% based on the findings of the report that IGF is to deliver to Bercy Le Figaro was purchased. It stresses that "the cost of the photovoltaic sector has become very attractive with lower production costs of signs (development of production capacity in Asia) and a collapse in prices linked to the Spanish crisis.Above all, the document points out that "the difference between the purchase rate (between 414 and 580 euros per megawatt hour) and the market price (56 euros per MWheure) is funded by electricity consumers via the contribution to electricity utility (CSPE). Its authors have amounted to about 60 euros per year for a household heating to electricity loads more can be passed on to consumers 'bills (1.5 billion euros per year from 2012), if nothing' was done. "It's a question of purchasing power," insists the entourage of Christine Lagarde.

"This tariff change is the first step in a necessary adaptation of the control system of feed-in tariffs, this development, which should afford the industry outlook solid and sustainable development until 2020, will be prepared in the fall consultation with all stakeholders, "concludes it at Bercy.

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Fnac farewell to Wake & Games. The distributor of cultural products, a subsidiary of PPR, entered into exclusive negotiations with ïdgroup (Okaïdi, Obaïbi, Jacadi …) for the sale of 41 stores games and edutainment toys Fnac Eveil & Jeux and site Online sales associate. "The reference to the Fnac will quickly disappear from the sign, gives the" Figaro "Margaret Milan, CEO of the subsidiary. Eveil & Jeux notoriety enough to live alone. "

So finished playing for Fnac, which opened its first stores in 1997 Fnac Junior, before acquiring the next year the pioneer of mail-edutainment toys, games & Enlightenment. In 2005, two subsidiaries were combined and renamed the brand.The ensemble, led by Margaret Milan, the founder of Awakening & Games, was managed independently within the Fnac.

This relative independence explains that PPR, which formally announced in February 2009 its desire to disengage from Fnac, has decided to initiate a sales process for specific Awakening & Games.

If the transfer, the amount was not disclosed, go ahead, join ïdgroup Awakening & Games, the leading French ready-to-wear children. Its founder, John Duforest, is a former Camaïeu, which he took over the child activity in 1996. Together with Jean-Luc Souflet, he launched the brand in 2000 Okaïdi, targeting children 0-14 years and two years later Obaïbi, based on 0-5 years.Both brands now have 681 stores, including 347 in France freecreditscore.

A phenomenal success has led leaders to diversify. In 2005, ïdgroup bought Frydman family (former owner of Marionnaud) Jacadi, which has 270 stores, including 117 in France. Ïdgroup, which showed a turnover of 415 million euros in 2009 (but refuses to disclose its findings), also trying to revive a small sign of educational toys and arousal acquired in 2008, called Oxybul.

50% of distance selling

"Both groups will benefit from the expertise specific to each brand, including the qualifications of Internet sales and promoting the network of stores, provide Duforest Jean and Jean-Louis Souflet. "We specialize in multi-channel," says Margaret Milan.Half of the turnover of Fnac Eveil & Games (127 million euros last year) is carried in stores. The other half is done remotely, with 90% on the Internet and only 10% by phone or by mail.

Okaïdi may therefore accelerate the Internet, while awake & Games benefit from the experience of international ïdgroup, present in 60 countries. "Both companies share the same values," says Margaret Milan, delighted to join a group to "work for the awakening and development beneficial to the child," according to its founders.

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In a market worried about the evolution of global growth after poor figures from Asia, European exchanges were falling sharply this morning and Wall Street follows the same path. In the first exchanges, the Dow Jones, who started the session on a drop of 0.75%, accelerates quickly to its fall -1.31% to 10,006 points. The Nasdaq also lost 1.70% to 2183 points and the S & P was down 1.49% to 1059 points.

On Monday, the Dow Jones plunged into the red light moments before the closing. It has receded by 0.05%.

As evidenced by the very low volumes of trade these days, the caution among investors, who are eagerly awaiting the release of employment figures on Friday. Trading volumes remain low.In addition to "the decline of the euro against the dollar, under $ 1.23 in mid-session, weighed on the direction of Wall Street, analysts said Aurel Bgc. A large number of awards, including Spain (Thursday) take place this week and the markets may remain nervous before the termination of the operation of 442 billion euros from the ECB on Thursday. "

Consumer confidence is expected to increase

Meanwhile, on the side of macroeconomic indicators, after consumer spending, announced Monday an increase of 0.2% annualized, against 0.1% expected, consumer confidence is to be unveiled Tuesday. And it is expected to clear up.

Moreover, housing prices in the United States rallied in April, after declining in March, according to the monthly Standard and Poor's / Case-Shiller.They rose 0.4% from the previous month (seasonally adjusted) after falling 0.2% in March.

On the face of currency, the euro continued its fall against the dollar, penalized by fears about the strength of economic recovery and China on debt in the euro area. Around 1530, the euro stood at 1.2181 dollars (-0.86%).

As for values, the 3M group (-1.23% to 78.01 dollars) should respond well after the stock market announcements made on Monday after closing. The industry has raised its guidances for the second quarter with a turnover of between 6.6 and 6.75 billion dollars against 6.52 billion dollars expected.The organic sales growth would be between 16 and 18%.

The book distributor Barnes & Noble (-11.70% 14.49 dollars) might instead fall after announcing a loss of 85 cents to $ 1.15 per share against 45 cents a share. The turnover will be between 1.32 and 1.11 billion dollars against 1.28 billion initially expected.

Google (-1.92% to $ 463) also made the headlines, the U.S. computer giant has sold a deal in Beijing.Given the refusal of China to see the California company to redirect its users to search the HK Group U.S., Google has decided to terminate the transfer, in order not to be censored by Beijing.

Californian Tesla goes public

Tesla electric car manufacturer in California, which comes on Tuesday on the Nasdaq stock exchange, announced Monday it had raised over 200 million dollars with this, beyond his expectations. According to final results of the offering, 13.3 million shares were placed on the market at a price of $ 17, while the group expected more than $ 16. This represents a total of $ 226.1 million, including about 202 million directly back to him. In trading, the shares lost 0.52% to 3.52 dollars.

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Faurecia aims to achieve a turnover of 16.5 billion euros in 2014, a jump of nearly 80% compared to 2009, driven notably by growth in emerging countries and accompanied by a marked recovery its operating margin.

In a preliminary statement issued on the occasion of a presentation to analysts of its medium term strategy, the automotive supplier had suggested a target of about 16 billion euros. It was subsequently refined to 16.5 billion by the group finance director, Frank Imbert, at the end of the presentation.

Faurecia said that his goal would be increased by an average annual growth of 12% over the period, exceeding the estimated average market, including 8% organic growth. In 2009, the turnover of the world's leading exhaust stood at 9.29 billion euros.His prediction halfway strategic plan in 2012, is set at $ 14.2 billion.

The group had already said last month during its general assembly in 2010 that would significantly exceed its target of 4% growth, the dynamism of emerging markets in which Faurecia development in addition to continuing strong demand the scrappage Europe in the first half.

He added target for 2012 operating margin of 4% to 4.5%, against 1% in 2009 and 0.8% in 2008. This rate should be increased to 5-6% in 2014 thanks to growth in the group but also savings plan "Challenge 2009" which led to Faurecia, during the crisis of the automobile, reduce its dead.

The growth will come from China

He estimated that at the end of the period of five years, the share of turnover achieved outside Europe that will reach 42%, against 23% last year, with sales increased by 3 3-6900000000 euros.

This shift from the center of gravity of the group due to the rebound of the North American market, which Faurecia plans to take further since it acquired Emcon, and strong growth enjoyed always the Asian market, led by China.

The group aims at 2014 turnover of 1.7 billion euros to the Chinese market, against 700 million in 2009, representing an average annual growth of 19%.

The Chinese automotive market, already become world number one, is expected to double in size in the coming years.Faurecia now believed to be in position to get the best score for the plants he has in place today allow it to achieve the necessary scale. By 2014, the number of sites expected to reach their thirties.

Faurecia also said targeting a net debt to EBITDA of less than 1 in 2012 and 0.5 in 2014.

In exchange, these ads have been welcomed. The stock has gained nearly 5% to 14.825 euros.

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The new head of British diplomacy began Sunday evening in Paris on a tour that continues this week in Rome, Berlin and Warsaw. He gave his first interview with Le Figaro in the European press.

LE FIGARO. Largely eurosceptic Conservative Party, to which you belong, has concluded a coalition agreement with the Liberal Democrats, favor, they, to a rapprochement with the EU. What will your European policy?

William HAGUE. This is good news for the EU that we have heard over five years with our coalition partners. This was not the tradition in Britain to have a fixed maturity term of office. The next general elections will be held in May 2015. For our European partners in particular, that political stability should be a good omen.With the Liberal Democrats, it was not difficult to determine what our European policy: this is further good news for the EU, because we will be predictable. The course is set for the next five years: we intend to be extremely active in European affairs so that the EU can collectively weigh in the world. We will also be very active to help European economies to recover growth, create new jobs and new businesses. We'll be tough negotiators, but is not that we should expect from any government?

The economic crisis, financial, monetary and across Europe requires its members to further cooperation. How far will you go on the path of solidarity?

We do not belong to the euro area and we do not rejoin, as stipulated in the coalition agreement.Neither partner will do the same proposal, as long as this agreement. But as David Cameron has said a euro zone healthy is in our interest. We do not want to be part but we hope it contributes to the financial stability of Europe. It is very important to us. Regarding the financial support that Britain could make to the euro area, our position coincides with that of the government of Gordon Brown. Our country faces the heaviest budget deficit in history (aside from the period of world wars) and the priority task is to reduce the deficit to a level where it can be controlled.We are not able to provide other financial guarantees.

So you exclude from participation in a support fund for countries of the euro area in trouble?

The government that preceded us had agreed to participate in one of these funds a few weeks ago. We will assume our responsibilities in fulfilling this agreement. But we will not be dragged further into the euro area. This is not what the British want from their government. It will not offer more than what has already been proposed.

Do you negotiate opt-outs with the EU?

We will discuss with our partners in government. As indicated in the coalition agreement, we want to limit the application of the directive on working time, which we consider too restrictive in Great Britain.We also wish to pass a law requiring a referendum if a future government would go further transfers of sovereignty to the EU. There was a lot of institutional changes in Europe and debate. We must now ensure that the institutions function, can improve economic performance, extending the single market and cooperation in foreign policy. Let us focus on concrete achievements rather than engaging in a new institutional debate.

A bounce or a deepening of the crisis could lead to more regulation. How would you react?

We certainly need to improve how we regulate the banking and financial services. But further regulate the labor market and the business would be in the wrong direction. This is the traditional view of the British.The crisis has again highlighted. We say: Great Britain is open for business. Our next budget in two weeks, will reaffirm the years to come. We hope that our European partners adopt a similar approach.

The EU's foreign policy is lacking, according to you, "determination and consistency." What will you offer?

The situation in Gaza shows that Europeans must contribute to the relaunching of a peace process. All solutions to ensure the delivery of aid to Gaza and trade require a form of international assistance and there is a role for the EU. European nations, when they speak together, can have a particular impact. That the Israeli government to decide whether to accept the fact-finding mission to which France and Great Britain are favorable.In a situation like this, we must unite our capabilities. It is also the case for Iran. We work closely with France to allow the adoption of new UN sanctions. We also want to discuss additional EU measures. Again, the Union can demonstrate its collective weight.

Are there still you think a "special relationship" between Britain and the United States?

Yes, this special relationship exists. I called the alliance indivisible. It is expressed through a wide range of cooperation (diplomatic, military, nuclear, intelligence, economics …). Great Britain and the United States is still the largest investor in the partner. But it is not for us to choose from competing in Europe or France. Both relations, transatlantic and European natural fit.

Afghanistan is a priority.Can you do better than the government of Gordon Brown?

We need a viable political process at the same time that military progress in the field. Of course, it's difficult, but we must remain faithful friends. We will remain strongly committed to Afghanistan. The worst would be to leave an uncertainty reflected in our action. This would only strengthen those who do not want a future of peace. The question is not whether we will continue to make our contribution but how we will.

With France, cooperation in defense looks promising?

We already talked with our counterparts in French when we were in opposition. It is still too early to make announcements: the review of our strategic policy and defense completed in the fall. But we are very open to new ideas and a closer cooperation.David Cameron and Nicolas Sarkozy have already established between them a great working atmosphere. We have many things to do together to ensure the growth of our economies, develop civil nuclear power or act in the field of immigration. The fact that the Prime Minister and I have chosen to perform in France our first bilateral visit abroad shows the enormous importance that we attach to these relationships.

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The French fleet of purse seiners in the Mediterranean ready to run the campaign the smallest in its history. From midnight Saturday, they have thirty days to collect more than 1 700 tonnes of bluefin tuna, cons 3000 tonnes in 2009 and 4500 tonnes in 2008.

Since Wednesday, the departure of vessels, mainly from the port of Sete, carried out under tension after the blockade organized by Greenpeace in the port of Frontignan (H?rault). "Their action is in response to concerns especially media and certainly not economic or environmental. Scientific reports write black on white that the bluefin tuna population is being rebuilt. And this year, the owners have made a huge effort to fit in the strictly legal framework enacted by the International Commission for the Conservation of Atlantic Tunas (ICCAT).Fishermen are tired of being stigmatized as exterminators and thieves, "said Bertrand Wendling, director general of the fishing cooperative S?te (Sathoan). This year, fishermen in the Eastern Atlantic coast and the Mediterranean should not exceed 13 500 tonnes of sampling with equal quotas between Spain, Italy and France.

1500 affected families

The decision to reduce the fleet in 2010 (17 ships against 28 in 2009 and 32 in 2008) was dictated by a concern for profitability and demonstrate the willingness of fishermen. "Every fishing boat could therefore 100 tonnes this year, and we need a sample of 130-140 tons to balance expenses and depreciation. The financial sacrifice is a bet on the future.Because we believe the future of the bluefin tuna fishery, "said Jean-Marie Avallone, owner S?te history of tuna, which bind only three of its four boats manufactured in France since 2002 in the campaign, on board a auditor accredited by ICCAT.

For the weapons of Rosina Arthur Marseille, the sacrifice is even more eloquent: a four tuna catch. "The French fishermen from Mediterranean will be kept under strict surveillance for this campaign. By Will it be the same for illegal fishing vessels that will continue to take, without control, limitation or quota? "Annoyed Henry Square, the National Committee of Fisheries. The stakes are high for Mediterranean ports: "1500 families live in this fishery," according to Bertrand Wendling.This, despite the reduction of the "wing" and the price of tuna leveled between 5 and 8 euros per kilo (out of the boat).

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"It was a time, Wall Street firms protected them customers. The irony about Christopher Whalen, head of research firm Institutional Risk analitycs in response to the announcement by the SEC (Securities and Exchange Commission) – The U.S. stock market watchdog – the filing of a complaint for fraud against Goldman Sachs.

The U.S. bank would have hid crucial facts about financial products affected by the subprime crisis. Fraud concerns the structuring of CDOs (collateralized debt obligations) linked to subprime subprime.

Goldman Sachs's action was immediately heavily affected by this lawsuit. Around 17h35, the title fell by almost 14% to 160.3 dollars, bringing in its wake many financial stocks and the major global indices.

The SEC accused the bank and one of its vice-presidents, Fabrice Tourre to have misled investors by concealing important facts about the financial product concerned, while the U.S. housing market began to deteriorate.

"Unfounded" according to Goldman Sachs

"The accusations are completely baseless SEC according to law and the facts and we will vigorously contest and defend the firm and its reputation," the bank said in a statement pay day loan lenders.

Around 19 hours, Wall Street was still affected by the news, the Dow Jones dropping 1.31%, to 10,999 points – falling below the psychological 11,100 points high – while the Nasdaq slipped 1.57% to 2476 points – the bar is also crossed 2,500 points down – and the Standard & Poor's 500 yielded 1.75%, to 1190 points, below 1,200 points.

Huge loss for its property fund

On Friday morning, more bad news has been unearthed: the Whitehall Street International Real Estate Fund managed by the U.S. bank would have lost most of its value, according to the annual report sent to investors last month, and published this Friday The Financial Times.

The report highlights poor investments in the U.S., Germany and Japan. Its net assets would be dropped to 30 million euros when it was previously estimated at 1.8 billion euros (1.3 billion euros).

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Between January 1 and the opening March 31, 2010 at the close, the CAC 40 rose from 3974 points to 3936.3 points. The benchmark index of Paris has "saved the honor by posting a quarterly increase … 1%. Over the period, the Paris stock exchange has hit a ceiling at 4045.14 points, and broke the 3,600 points (up to 3563 points) during the month of February. A substantial gap of nearly 500 points.

On Wall Street, the quarterly performance of the Dow Jones was 4.1%, the S & P 500 by 4.9% and the Nasdaq 5.7%. The three indices are changing around their highest levels in eighteen months.

The U.S. employment figures on the radar screens

For this Easter weekend, financial markets are closed Friday and Monday.As a result, the report on employment in the United States does not have its usual role of "market mover", that is to say strong influence on investor sentiment and therefore the indices dung beetles.

It could affect the opening and the trend on stock markets next week. "Investors need to be reassured about the strength of the U.S. economy. The employment statistics are a key indicator ', warn analysts Aurel BCG.

The consensus expectations are high: 180 000 new jobs. They reflect the expectations of hiring by the Census Bureau for the 2010 census and the reintegration of excluded jobs from the February estimate because of snowstorms.

For Aurel, "these forecasts seem overly optimistic." And ADP announced Wednesday 23,000 job cuts in private in March, while the market anticipated 40,000 new jobs.Caution is therefore on the eve of the long Easter weekend.

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After opening down 0.79%, the Nikkei 225 Japanese retreat, an hour of this closed Monday, 0.2%, to 10,974 points.

Pout, retail sales in Japan rose 4.2% yoy in February, confirming a rebound in consumption in the islands after months of stagnation, said Monday the Ministry of Economy, Trade and Industry (METI). It is the second consecutive month (+2.6% in January), after seventeen months of fall.

Retail sales in February "are impressive evidence of the persistent strength of consumption, welcomed Masamichi Adachi, senior economist at JP Morgan Securities.

The Shanghai Stock Exchange in great shape

Elsewhere in Asia, green is the rendezvous.Including the establishment of Hong Kong rising 0.77% to 21,216 points to 7 hours and the CSI 300 Index of Shanghai climbing from 2.39% to 3353 points, boosted mainly by financial stocks on the bottom of anticipation of the opening, April 16 next, an index future in China.

In India, the Bombay SE 30 index wins more tentatively 0.3% to 17,698 points fast cash loans .In the Pacific, Sydney gleaning 0.08% to 4900 points all round.

Toyota saw its sales fall in Europe

Sunday, Volvo (0.1% at the close on Wall Street Friday evening) fell into the hands of rival China Geely (+2.2% in Hong Kong), which will spend $ 1.8 billion ( 1.34 billion euros), four times less than the $ 6.4 billion paid by Ford in 1999.

Shortly before the gong, Toyota (-1%) reported an increase in its global sales by 13% in February despite the 9 million vehicles recalled.

But in Europe, where it has recalled more than 1.7 million vehicle sales declined 21% in February, while the market grew by 3.2%. In two months, the decline amounted to 8.1%.

Consequently, the Onnaing plant in northern France, which produces the Yaris will undergo fourteen days of partial unemployment by 1 July, a union source.And eight days of production shutdown is also scheduled by mid-April in Britain, according to the Japanese agency Kyodo. Production will be suspended again in August and 750 jobs should be deleted.

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