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The Paris Bourse expects the speech of Ben Bernanke

The CAC 40 restarts forward slowly but surely. After Wall Street closed Thursday night at equilibrium, following employment figures worse than expected, and that the Asian markets, Shanghai and Singapore excepted, marking time on profit-taking, the CAC 40 , advanced 0.26% to 3,829 points at mid-term review.

On the macroeconomic front, no statistics are expected in France. In contrast, the euro area, several indicators were on the agenda: the trade deficit amounted to 4.3 billion euros in August after a surplus of 6.2 billion in July, according to data released Friday by the Office EU Eurostat statistics. Moreover, inflation accelerated again in September to 1.8% year on year, confirming a first estimate.

Sales of new cars in Europe fell 9.6% in September, with a total of 1,227,645 vehicles.It is the sixth consecutive decline. In the first three quarters of the year, sales of new cars fell 4.3%. In France, the decline was 8.2%.

Bernanke's highly anticipated speech

Overseas, the news will be rich: Inflation in September (1430), retail sales in September (1430), industrial activity in and around New York in October (1430), consumer confidence from the University of Michigan October (3:55 p.m.) and finally inventories and business sales in August (16 hours). But investors will be particularly attentive to the speech of the President of the U.S. central bank, Ben Bernanke on monetary policy to be adopted in a context of low inflation. It is planned from 1415.

On the currency markets, the euro takes hold of the dollar.Shortly before the mid-session, the euro gained 0.08% to 1.4090 dollar.

As for values, once will not hurt, no publication is planned this Friday.

Europe car sales down in September

Renault: + 0.12% to 38.62 euros, Peugeot: + 2.17% to 27.35 euros

However, several companies will follow, including the automotive after sales of new cars in Europe fell in September by 9.6% in September, with a total of 1,227,645 vehicles. This is the sixth consecutive month of decline. The decrease was 8.2% in France, 8.9% in the United Kingdom 17.8% Germany 18.9% Italy 27.3%, or Spain.

As for manufacturers, PSA Peugeot Citroen saw its sales fall by 7.3% to 106,815 registrations. In addition, Barclays has raised its price target on the manufacturer from 21 to 23 euros.As for Renault's sales fell 11.7% to 91,349 vehicles.

Carrefour sentence

In addition, a number of companies have released their quarterly revenue Thursday night after-hours trading.

Carrefour: -3.69% to 38.65 euros

Carrefour has revised down slightly its forecast for 2010 earnings because of reserves in Brazil, but published quarterly sales slightly above market expectations, supported by emerging countries, especially China. The group reported sales up 6.7% in the third quarter a year earlier to 25.6 billion euros.

The podium of the highest drop in the CAC 40 is completed by Pernod Ricard (-2.02% to 62.53 euros) and Essilor (-0.09% to 48.99 euros).

Credit Suisse downgraded the group of wines and spirits from "neutral" from "underperform."As the world leader in ophthalmic lenses, it will invest $ 130 million to buy 50% of the Israeli group Shamir Optical, according to a statement received Friday.

In contrast, France Telecom gained 2.30% to 16.65 euros. Morgan Stanley raised the value of "weighting in line" from "overweight."

Stallergènes: -3.80% to 63.25 euros

Stallergènes confirmed its full-year after an increase of 10% of its quarterly revenue and a first payment under its partnership with Japan's Shionogi.

Sopra: + 1.92% to 57.36 euros

Sopra has released a turnover up 7.2% in the third quarter on a year to 272 million euros.The computer services company has maintained its target of organic growth of 4% to 5% in 2010 after a third quarter marked by an increase of 6.0% of its turnover.

Cegid: + 1.74% to 23.40 euros

Cegid expressed confident of further growth at the end of the year despite an economic environment that remains uncertain after a third quarter marked by an acceleration of growth in its turnover.

Cellectis: + 0.62% to 8.15 euros

Specialist in genome engineering, Cellectis, announced Friday earnings up 25% over the first half of 2009 e the fiscal year ending June 30, 2010.

Successful Loan Cybergun Soitec largest increase in the SBF 120

Soitec: + 3.37% to 7.37 euros

The manufacturer of silicon on insulator, Soitec, announced Friday it had lost a round in the standoff, which opposes the U.S. semiconductor MEMC. The Court of Delaware (U.S. East) concluded that the patent claims Soitec were either invalid or not infringed. The group challenged the conclusions of the Court for what they are opposed to claims for infringement of its patents "and intends to appeal. The lawsuit between the two sides will resume on October 25th.

Specialist leisure shooting, Cybergun announces the success of his bond.The total orders received reached 9.434 million euros, above the ceiling of the operation target of 9 million.

Arkema: + 1.58% to 42.97 euros

Arkema has finalized the placement of a bond issue of $ 500 million, led jointly by Citi, Credit Agricole, Natixis and Societe Generale. This loan is due in October 2017 and with interest at 4%.

Technip: + 0.38% to 61.13 euros

Technip has confirmed that he would take an 8% stake in Malaysia Marine and Heavy Engineering Holdings Berhad (MHB) as part of its IPO, scheduled for late October.

Nexans: -1.26% to 53.35 euros

Nexans plans to acquire Dutch rival Draka, including 43.9% of the capital were put on sale, Les Echos reported.Deficit last year, Draka expected a net profit of around 25 million euros this year, the newspaper said, citing analysts.

Sopra: + 2.04% to 57.43 euros

Sopra has seen its turnover increase by 6% to 272 million euros in the third quarter. Group counseling and services maintained its organic growth target of 4% to 5% this year.

The Acropolis in Athens blocked by officials

The entrance to the Acropolis in Athens was closed to tourists on Wednesday morning. A banner hung at the gates: "We will not pay for your mistakes." Thirty officials from the Ministry of Culture Greek protesting against the non-renewal of 350 employees in CSD. They require Final hiring and block access to the site sporadically.

"In total, 350 people will be laid off in late October at the expiration of their contract," said an executive of their union. "We warned travel agencies that we would demonstrate to the Acropolis until 31 October. All other archaeological sites (Athens) are open. " The Greek ministry said that "the law does not allow us to renew these contracts, new jobs will be open."

Also Wednesday, the Greek Railway observed a work stoppage of three hours.A warning shot before a call to the 24-hour strike on Thursday. They are protesting against the privatization of the public railway (OSE).

The austerity plan puts the officials at the Diet. The hiring freeze was imposed cash advance to savings account. The thirteenth month's salary was cut by 30% and 60% of the fourteenth. These measures were taken along with a rise in VAT from 19% to 23% and a postponement of the legal age of retirement at age 67. In the private sector, trade unions and employers agreed earlier this summer on a wage freeze.

Since the spring and the implementation of this plan, the various professions as officials feared losing certain advantages multiply strikes. After the mass demonstrations in the spring, work stoppages have disrupted a dismal season. Air traffic controllers, marine Piraeus and truck drivers stopped work.In September, the railroad took over.

The government has not so far acceded to various demands. It follows to the letter his austerity program, negotiated in exchange for a loan of 110 billion euros from the European Union and the International Monetary Fund. Result, it was ahead of its objectives, with a reduced deficit of 31.1% over the first nine months of 2010.

Transportation strongly perburbés

The boss Bernard Thibault of the CGT predicts a movement "more powerful" than before and that is "anything but a symbolic gesture." The Inter confirmed another day of action this Saturday, October 16. In several sectors, notably transport, energy, public service or refinery, the federations have called for strikes renewable.

Transportation

• SNCF

The seven federations of railway (CGT, UNSA, Southern Rail and Fgaac-CFDT, FOR, CFTC, CFE-CGC) have endorsed the principle of a renewed strike on Monday evening at 22:30.

All night trains in France and abroad, with the exception of the Paris-Rome, were canceled.

On average a TGV Paris-province runs of 3, 1-TGV Province Province of 5, almost 4 in 10 Transiliens rush hour, 4-B of 10, and 1 day on Reef 3.Téoz traffic is assured because of a train on average 3.

Outbound traffic was normal for the Eurostar to London, Thalys and 8 out of 10 will roll into Belgium and the Netherlands. Two out of three trains are scheduled to Germany, and 8 out of 10 trains to Switzerland.

Information:

http://www.sncf.com http://www.infolignes.com http://www.abcdtrains.com

Hotlines:

0.805.90.36.35 for Outline, TER, and Intercity Téoz 0.805.70.08.05 for Transiliensncf.mobi for real-time access to information on mobile

• RATP (Paris Metro)

The CGT, Sud, FOR and CFDT RATP filed a notice of indefinite strike from October 12.The union UNSA-transport, which includes drivers of subway, RER, buses and trams, himself has decided not to call workers to strike.

At RATP, "the service is also in line with expectations, even slightly better than expected," said a spokesman.

– Metro:

Lines 1, 11, 14: Traffic normalLigne 6: three trains on quatreLignes 3, 3a, 4, 8, 13, two trains on troisLignes 2, 5, 7, 7a, 9, 10, 12: a second train

– Buses and trams:

Three out of four bus ride and should be almost normal traffic on the network of trams. T1 only three trains will run on four.

– RER:

RER A: a second train, with an interconnection maintained at Nanterre Préfecture

RER B: a train every five rush hour. Station Denfert-Rochereau is the starting point and terminus for all trains.

Information:

http://www.ratp.fr

Freephone:

0.800.15.11.11

• Urban (by province)

The notice of strike filed by the CGT federation covers the period from October 12 to 30 in transport in provincial towns. Strike notices were filed by 85 companies of 111 urban transport networks.

– Of these 85 networks, 49 of them have filed strike notice 24 hours non-renewable, as at Aix-les-Bains, Arles, Clais, Cannes, Dunkerque, Lille, Limoges, Lyon, Nice, La Rochelle, Toulon, Tours and Vienna.

– For 29 of them, foresaw these have a renewable period of 24 hours, as in Angers, Avignon, Bourges, Grenoble, Marseille, Montepellier, Nantes, Rennes and Toulouse.

– Setp networks filed a notice of less than four hours in Agen, Beziers, Brest, Forbach, Saint-Malo, Saint-Nazaire and Tarbes.

• Air France

Side air, about 30% of flights were canceled at Paris Roissy airport and 50% at Orly airport.

Useful numbers: 36.54

• Ports and Docks

Ports and Docks The CGT has called for renewed strike in all ports of France from Tuesday in all sectors (cleanliness, rail and airport handling, fish trading, river transport, marinas and marine).

The National Federation of Maritime Unions (FNSM) CGT also called marine commerce and fisheries in renewable strike starting on 12 October.

• Public

The General Union of Federations of staff-CGT (CGT-UGFF) announced Thursday the filing of a notice of strike action covering the period from October 12 to 18 inclusive cons of pension reform.The CGT has also filed a notice covering all public services until the end of the month.

For its part, the Federation of Public Service CGT said in a statement it had filed a strike notice covering the period from October 12 to 30.

• Education

The SNUI-PP, first union at the first level (nursery and primary schools), and the SNES, the main union for secondary school teachers, called the strike for the day of 12 October. According to the Ministry of Education, the strike rate expected in the first degree is 27.17% against 33.53% during the strike of 23 September. No figures are available for the second degree.

Unions and students FIDL UNL invite students to demonstrate alongside employees. The main student union, UNEF, called for a day "facs dead." South Students also calls for the mobilization in all universities.

• Job center

Solidarity Federation South-job calls for a renewed strike after October 12 and filed a notice to that effect by day 24 from 13.

• Energy

Five unions (CGT, CFDT, FOR, CFTC, CFE / CGC) called the strike on Tuesday. The CGT has filed a notice of indefinite strike in the areas of gas and electricity from Tuesday, which could lead to walkouts at EDF and GDF Suez, announcing cuts costs and cuts targeted at certain enterprises or on public buildings.

CGT federation of chemistry, on which the employees of the oil sector, also calls for renewed strike.

Ten refineries in France over 12 voted in favor of the strike, including eight in favor of a renewed strike. The 13th French refinery in Dunkirk, voted to strike but does not produce more oil since 2009.

While officials at oil terminals at Fos-Lavera enter their fourteenth day of the strike, the refinery from Total-La Mede began Sunday procedures shutdown progressive and the Donges refinery (44), which supplies all the western France.

• La Poste and France Telecom

Sud PTT union, second largest union at La Poste and France Telecom, called for renewed strike in two public companies from Tuesday.

• Audiovisual

Unions CGT, FOR and CFTC France Televisions filed their notice of strike renewable.

• Judiciary

The Union of Magistrates (DM), at the left, calls a strike on October 12 while the other union body, the Union of Magistrates (USM majority) advocates a more moderate.

Noting that judges have no formal right to strike, it does not use the term, but called on its members to refer non-emergency hearings on October 12.

• Prison Service

CGT-prison has filed a strike notice to all employees of 12 to 18 October.

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Budget: the room where one earns the most

This is a report that causes a stir in the entourage of ministers. Published in the Official Journal, the investigation conducted by the member Rene PS Dosière reveals for the first time in detail the levels of remuneration for members of ministerial cabinets, including bonuses. Verdict: better to work with Baroin that Bernard Kouchner. Indeed, the average of the three highest salaries of employees of the budget minister is 15,117 euros per month against 8822 euros a month for those of Minister of Foreign Affairs, penultimate ranking. The average of the three lowest salaries in the entourage of Baroin is 5368 euros per month.

Members of the Cabinet Budget and earn a better living than those in the Prime Minister Francois Fillon in which the average of the three largest wage is 14,086 euros.Advisers Baroin are better off than those of Christine Lagarde (13 948 euros a month for the highest wages). At the bottom of rankings, the Department of Ecology (10,633 euros), Agriculture (10,313 euros), Youth and Solidarity (9462 euros) paled.

"Work does one less than Bercy Foreign Affairs?"

Typically, wages are the most interesting quick guaranteed personal loans at Bercy. Officials of these firms receive an average premium of 30% to 40% higher than other departments. "I want to understand the market remuneration to the Ministries of Finance is higher than Social Affairs. To bring certain employees of private, one has to pay them properly, "says the member Asnière in the columns of the Journal du Dimanche. "But then I think we're beyond convenient," he adds."Work does one half of Foreign Affairs at Bercy? This poses a number of questions and it would be good if our leaders are responding. "

MP passionate figures, which collects reports of the Court of Auditors since 1967, advocating the establishment of wage floor and ceiling in each departmental office. "I would like the future prime minister imposes wage scales."

Last May, Nicolas Sarkozy had urged ministers to restrict their lifestyle, including reducing their staff to 20 and the number of advisers to 4 by Secretary of State.

SIGHTS:

"PAPER – The full survey results

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Owners unemployed longer

Purchasing a home he would have set a shot in the ankle? in a forthcoming report, and unveiled on Thursday by the daily Les Echos, the Center for Strategic Analysis (CSA) establishes a correlation between unemployment and homeownership rates. According to the findings of Clement and Mahdi Ben Jelloul Schaff, two economists from the body attached to the prime ministry, "countries with the highest rates of home ownership are at the same time, those familiar with unemployment rates higher" .This observation is easily explained by them: the fight against unemployment through greater residential mobility of employees, ownership of an apartment or a house becomes troublesome when it comes to anchor a new search ext.

Of course, in France, where the proportion of owners is far below the European average, the property is not sufficient to explain the high unemployment rate. Economists point out however that the correlation is still visible. "If we compare individuals of the same socio-professionally in France, a homeowner takes longer to find work as a tenant, the duration of unemployment is about 30% higher, resulting in a higher proportion of unemployed among the tenants of the same socio-professional category, "says Clément Schaff cashadvance.

Obstruction of taxation

CAS does not take much to jump to conclusions. For the body, the France of owners required by the President of the Republic is not bad in itself, but this idea requires accommodations. To find a job elsewhere, the owner must indeed be consider selling his property and therefore pay transfer taxes, or rent it and in this case pay both rent for his new residence and tax on rental income that it collects.

The report examines various proposals to address this dilemma. It advocates the establishment of the deductibility of rents paid by tenants of landlords rent receipts, and relief transfer taxes.In return, local governments who receive those rights could raise a new tax so that local people are not moving only to pay mobility.

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Wall Street on a hesitant note

U.S. stock markets finished the session Wednesday night with no clear direction. On the one hand, the Dow Jones in the red at the opening, rose 0.21% to 10,968 points, on the other, the Standard & Poor's 500 index retreated 0.07% timidly to 1160 points and the Nasdaq Composite Index gave up 0.80% to 2381points.

On Tuesday, the New York Stock Exchange finished up strong. The Dow Jones climbed 1.80% to 10,944.72 points, close to 11,000 points while the Standard & Poor's 500 and Nasdaq leaped 100 respectively of 2.09% to 1160.75 points and 2.36% at 2399.83 points, taking advantage of unindice ISM services activity in the United States very good. This good news has reinforced investors, who had been pleasantly surprised by the decision of the Central Bank of Japan to relax its monetary policy.

On the foreign exchange market, the euro rose again above $ 1.39.

On the macroeconomic front, today the U.S. private sector rebounded in September to destroy more jobs than it creates, according to a study released Wednesday, which bodes ill for the last official report on employment before the general election to be published Friday.

Whatever the figures the Labor Department will release Friday at 14:30 and their political impact, something is gained: unemployment continues to affect millions of Americans.

If the rate rises 0.1 points to 9.7% for the month of September as analysts expect, the U.S. will then have experienced 17 consecutive months of unemployment than or equal to 9.4%, which does has not seen since 1948 moins.Le unemployment rate was 9.6% in late August.

Food chains monitored

Analysts will also turn their eyes to new business this week with the start of the season's third quarter results

The side of values, society-food chains Taco Bell, KFC and Pizza Hut has announced a profit of 357 million in the third quarter in line with analysts' expectations. In contrast, the turnover of 2.86 billion, up 3% on a comparable basis is slightly lower than consensus expectations.

Among the values of Dow Jones, launched the quarterly results will be given, as always, the aluminum giant Alcoa (1.81% to 12.36 dollars) tomorrow. "The materials sector was the one who suffers the most degradation analysts," note the experts at Aurel BGC."However, they add, Alcoa could surprise on the upside, at least in his speech on the prospects for year-end." Due to the closure of factories, Chinese imports of steel and aluminum should increase sharply. Growth remains strong in Asia and Latin America, offsetting more gloomy outlook in the U.S. and Europe. The aluminum price forecasts growth at the end of the year. Overall, analysts expect an increase of 24 to 26% of results on the S & P 500.

Johnson & Johnson (0.62% to 63.21 dollars) maintains its offer of Crucell priced at 1.75 billion euros, or 24.75 euros per share, management agreed with the Dutch biotech this proposition, although some investors demanded more free business cards. The title is almost stable at U.S. $ 62.74 (-0.10%).

General Electric (2.24% to 16.88 dollars) has announced that its approach to repurchase Wellstream for 755 million pounds (868 million euros) had been rejected by the British oil services company.

Google (-0.72% to 534.35 dollars) has rejected accusations of Oracle that the search giant infringed on its internet IP rights in developing its software for smartphones and Adroid asked a U.S. court to dismiss, court documents show. The title leaves 0.85% to 533.52 dollars.

Avis Budget Group (-4.32% to 11.29 Dollries) and Dollar Thrifty Automotive Group (-1.74% to 49.13 dollars) announced Tuesday they would combine their efforts to gain approval regulating competition in the acquisition of the latter by the former.Notice in particular accepted the request of Dollar Thrifty to defer its offer to exchange while authorities investigate the operation, said the two groups.

AMR (+1.64% to 6.21 dollars) has announced that its subsidiary, American Airlines had recorded an annual increase of 12.2% of international traffic in September, and 1.6% on its domestic flights. The load factor stood at 80.1% last month. The stock gained 2.29% to 6.25 dollars.

Yum! Brands (+1.18% to 47.35 dollars), parent company of restaurant chains KFC, Taco Bell and Pizza Hut, has warned that the costs of labor and raw materials would affect its margins in the current quarter, making its action fall of 1.2%, to 46.20 dollars in after-hours trading. The group also reported a 7% increase in earnings under its third quarter to 357 million, or 74 cents per share.Excluding items, earnings per share (EPS) stood at 73 cents or one cent more than the Thomson Reuters consensus I / B / E / S. The company also raised its EPS target annual $ 2.48 U.S. $ 2.43 cons previously envisaged. The stock gained 0.79% to 47.17 dollars.

Costco Wholesale (1.16% to 65.41 dollars) announced Wednesday it posted a rise in quarterly profit thanks to increased household spending. Its net income rose to $ 374 million, 85 cents per share, a year ago to $ 432 million, 97 cents under its fiscal fourth quarter. Analysts polled by Thomson Reuters I / B / E / S expected a profit of 95 cents per share. The title was down 0.80% to 64.12 dollars.

Advanced Micro Devices (AMD) (-1.72% to 6.86 dollars) is not for sale but the chipmaker will listen to interesting proposals, said Wednesday its Chief Executive Dirk Meyer. He had been questioned about the interest in semiconductor industry ready software giant Oracle. The title takes 0.73% to 7.03 dollars.

USA: Bernanke supported the austerity

The wind could blow the rigor of the United States, after the implementation of expansionary policies and economic support. In any case, the influential chairman of the Central Bank of the United States (Fed), Ben Bernanke, has hardened his tone, in a speech yesterday in Providence, Rhode Island.

The Fed chief said the U.S. budget deficit is "a real and growing threat, which should be reason enough for those responsible for fiscal policy put in place a credible plan to reduce deficit to a sustainable level medium term. "

And the head of the central bank added that the U.S. federal government faces rising budget deficit caused by the economic crisis and longer-term aging of the population, jeopardizing the system public health insurance and pension insurance, "said Ben Bernanke."There is no doubt on this point: that these challenges require political leaders and people make very difficult decisions and accept sacrifices."

No measures cited

But for now, the Fed chairman did not specify the kinds of decisions and sacrifices that he advocates.

After posting a record deficit of 1416 billion during its fiscal year 2008-2009, approximately 10% of gross domestic product, the Federal Government has posted a 1.26 trillion in the first eleven months of fiscal 2009 – 2010, which ended Sept. 30. The government has yet committed to reducing the deficit to 4.3% of GDP in 2012-2013, relying on a strong economic recovery. A hope that would not be sufficient in the eyes of Fed chief.

Millions swindled French banks

Three years of investigation to untangle a huge international fraud against French banks. Cost of damage: 100 million euros. The newspaper Le Parisien has revealed Sunday that the police of the research section (CT) Paris had uncovered a complex network operator of legal loopholes to abuse the credit subsidiaries of larger institutions.

"This is one of the largest cases of fraud proven in recent years," assured the newspaper a source familiar with the matter. Sixty people were indicted. They have benefited from a loophole in the lease (rental of equipment with a purchase option at the end of the contract) to pocket the millions through false purchases of construction equipment. Through a complex configuration involving 4 companies fictitious activities, the sharks were able to foil the vigilance of banks.

Material overcharged

A former company buys another, wick material overcharged. Rogue supplier occurs only during this first step. It is in fact to justify an activity to appear more credible and to borrow from banks such as BNP Paribas, Fortis, Natixis, or the People's Bank. OSEO, the funding agency for SMEs, has also been targeted.

After winning the confidence of the bank, it is to extort as much money. For this, the first company to request extensions of credit Online payday loans. Officially, he is financing the purchase of expensive building materials. The company uses the mechanism to pay for leasing equipment.

Redeem the debt …

The next step is the heart of the scam.A third company buys the bank's debt first, which purchased the equipment leasing. Clearly, the bank pays to the third company the amount of the loan granted to the first. The final step is to disappear as if by magic, the collected funds to tax havens.

… then disappear

How? A fourth company accomplice enters the scene. Established abroad it absorbs the third, which bought loans from the bank. At the same time the first company disappears. Ultimately, the bank has no one to turn to recover the amounts for loans to buy equipment for home construction.These funds have been spoofed so that investigators nourish little hope to ever recover fully.

This montage of crook, "said Le Parisien, is made possible by a fraudulent use of" TUP ", the transfer of assets, which allows a company to swallow another without too much paperwork. Other similar cases are being dismantled in the Province.

Pensions: a renewed before the Senate

Bring down the street workers who are struggling to participate in one day to strike, because "it is not" small business or because their incomes are too small to lose a day's pay. Add the families and students. By choosing this Saturday for their third day of mobilization against pension reform since the return, the unions hope to expand the audience of the demonstrators.

As the deadline approached, it is a very traditional role-playing game that is played. "There will probably more people than last time," predicts a government source as to better explain this Saturday night that the event was not as dramatic as expected (September 23, between 1 and 3 million people had demonstrated). Unions, by contrast, are cautious attack, the better able then to talk show of force."It shows no purpose because it targets those who work where we, the unions are the least present, mobilization is therefore very difficult to predict, justify Eric Aubin," Mr. Retreats "of the CGT. And those who participated in the days of 7 and 23 are likely to say that it's time for others. "

Not certain that students will join the massive processions as one of their union, the UNEF, encourages them. And even if FP is trying to revive the myth of the struggle against the CPE-won in 2006 by all organizations of employees, combined with youth-in a statement co-signed with the students of Fidl.

Next meeting October 12

"Our goal is to do as well as the last day," said Francis still Chérèque (CFDT) in Liberation.The next big event to organize is already set to Tuesday 12 October, halfway through the text of the Senate.

The debates begin Tuesday in the Upper House. In committee, senators have made some alterations. Early retirement for disability will be relaxed. The current beneficiaries of the retirement allowance equivalent (unemployed at the end of all their rights with quarters but not yet age 60) affected by the postponement of legal age may continue to collect until they are pensioners.

More embarrassing for the government, the commission has removed an article opening the door for resource transfers between funds.This article implicitly acknowledged that if the reform should help balance globally by 2018 the retirement system, each credit union involved does not necessarily come out of red-chair of the basic scheme for employees (CNAV) considers that he missed another 4 billion per year in 2018. But, the FO MEDEF, the social partners have protested against the article, seeing the threat of siphoning Agirc-Arrco they manage quite well.

Nothing, however, at this stage about a possible relaxation of from 65 to 67 years, between 2016 and 2023, the age of retirement without discount. The Senate expects "ciphers" to consider a change, especially for women who raised three children, has provided this week its president, Gerard Larcher. In fact, a possible step will be validated or not next week.And magnitude of the event tomorrow will weigh as much as the "ciphers" in the balance.

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