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Bullish trading day in Asia

The Tokyo Stock Exchange is moving towards a fence on the rise this Wednesday, as U.S. markets the day before around 6:45 am, the Nikkei 225 index 1.89% to 9619.52 wins points in the wake of a session of heavy decline due to the threat of S & P on U.S. debt. However, a macroeconomic perspective, the news is grim: Japan's trade surplus plunged 78.9% in March over one year to 196.5 billion yen (1.7 billion euros ), weighed by the consequences of the earthquake and tsunami of 11 March.

In March, exports fell by 2.2% over the same month last year, their first decline in 16 months, to 5.866 trillion yen (51 billion euros). Car sales abroad dropped by more than a quarter of a year to the next.Video recorders, which also suffer from a lack of supply from suppliers who have suffered damage in the north-east, were also significantly less passed (almost a quarter less), while such as audio electronics (-31%).

Imports have increased their share from 11.9% to 5.6695 trillion yen (49.3 billion), continuing to be driven by rising oil prices in connection with the events in Africa Africa and the Middle East.

Elsewhere in Asia, the trend is green: the Stock Exchange of Hong Kong was up 0.92% Wednesday mid-session, the benchmark Hang Seng 216.35 points to 23,736.97 taking points at the break. The CSI index of Shanghai, he, more timidly advance of 0.13% to 3299.97 points, led by coal mining companies and steelmakers, dealers said.In India, the BSE Sensex is at 19,266.97 points 0.76% while in Singapore the Straits Times rises from 0.46% to 3139.67 points. Pacific side, the S & P / ASX Sydney allows itself 1.08% to 4845 points.

Fixed oil

Oil prices were mixed Wednesday in electronic trading in Asia, the market concerned about high prices could weigh on demand, and tensions in the Arab world. In morning trading, a barrel of light sweet crude for June delivery took 13 cents to 108.41 dollars. That of Brent North Sea crude for June delivery fell 13 cents to 121.20 dollars.

On Tuesday, oil prices rebounded in New York after their heavy losses the previous day, supported by a sharp weakening of the dollar, making commodities more attractive.

Generali Chairman resigns

Cesare Geronzi in 2007 in Rome. Photo credits: TIZIANA FABI / AFP

500,000 employees left "friendly" employer

Half a million! At last count conducted in late January, the number of broken treaty approved by the Ministry of Labour was 498,675. After three months of existence, the success of these amicable separation, introduced in the Labour Code in August 2008 following an agreement between the social partners (with the exception of the CGT), does not therefore be denied. The slight decrease of 17% in January compared to December 2010 is identical to that recorded a year earlier. "There is no reason to worry, an adviser confirms Xavier Bertrand, Minister of Labour. We are always on a rise of the device, according to a seasonality similar to that of previous years. " Without knowing why, the number of breaks conventional effect fluctuates during the year, giving the impression of playing with a yo-yo over the months. But the trend remains upward.In one year, separation amicably approved by the administration – which now represent 11% of the grounds of breach of CDI – still up 11.5% in 2010 and the refusal rate has dropped 2 points, stabilize at 7% of applications received.

None of the unions signatory to the January 2008 agreement does not deny his actions today. "The break helped secure conventional separations concluded an agreement which were not legally framed," says Gabrielle Simon, of the CFTC. Many of them were in fact disguised as dismissal for failure to allow the imaginary future ex-employee to receive unemployment benefits. "The best proof of this need for security is the low number of current use of industrial tribunals," considers Lawrence Berger, the CFDT savings account payday advance.Another way to approach is the decrease of 5000 in three years the number of entries monthly employment center following a resignation, a ground breaking CDI are not eligible for unemployment insurance. At least in the early months.

Preretirement disguised

Only drawback: separation amicably seem to be used by companies as an early retirement financed by collective Unedic. According to recent statistics, one in five unemployed entering employment center after a break treaty has over 50 years. Doubling of their other reasons for listing. But the fifties unemployed are entitled to compensation for three years if they have paid 36 months. And therefore receive an allowance until their retirement if they are over 58 years of age, at which the number of breaks conventional wings. The impact on the accounts would Unedic however minimal."Unemployment insurance has always been considered a case of early retirement for some companies," Lawrence Berger shade.

Some windfalls are not excluded. "Some companies multiply small packets of broken treaty to avoid having to implement a social plan," denounces Stéphane Lardy, FOR, which therefore calls for more guidance on approval procedures by the administration.

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McDonald's to the conquest of China

McDonald's has more than 32,000 restaurants in 120 countries around the world, serves over 60 million meals a day and employs 1.6 million people. According to recent estimates, McDonald's opens a new restaurant every three hours, two-thirds were born outside the United States.

In 1955 McDonald's opened its first restaurant in Des Plaines, Illinois. The concept worked so well that he started in 1967 exported to Canada and Puerto Rico. From 1988 to today, the company opened 80 new markets, more than 5 per year. In 1994 the big "M" was installed in more countries: 9! What makes some people say that the sun never sets on the McDonald's empire.

However, throughout its history, McDonald's has failed in one country. In late October 2009, the last restaurant closed in Iceland (the first was out of the ground in 1993).Not that the Icelanders did not appreciate its menus. On the contrary, but the business was not profitable because of the collapse of the Icelandic krona, which has weighed on prices of imports of potatoes, packaging, meat, vegetables and cheese.

Among the "stories" shock of McDonald's, we can see that it is Moscow that is the restaurant – 27 cases – the busiest in the world, with 40,000 customers a day guaranteed fast personal loans. So when the first McDrive opened in Kuwait City in 1994, there was a queue of 12 kilometers.

China, El Dorado McDonalds

China and its 1.4 billion people are dreaming Mc Donald's, intending one day to match its U.S. density, namely a restaurant per 20,000 inhabitants. In China, it would make 70,000 restaurants. For now, there are 70 times less.But McDonald's is growing there at a phenomenal rate.

Demonstrate its commitment to China, McDonald's issued in August last oblilgations denominated in yuan. A first for a non-financial corporation whose headquarters is not based in Hong Kong. The amount of the issue is not very high (30 million), but the operation is highly symbolic.

By focusing on a currency destined to become a reserve currency, McDonald's hopes to raise up funds to enable it to open between 150 and 175 restaurants in China per year. Already, sales of the brand in the Middle Kingdom are rising, as evidenced by the increase of 10.1% of its turnover in the country in July year on year.

The recipe for success

McWedding in Hong Kong. Photo credits: localhost / localhost

The euro on the threshold of $ 1.40

The financial community expected that the European Central Bank (ECB) to get tough. But to consider a rate rise was "possible" in April! Investors, who already played the euro rising against the backdrop of the prospect of European monetary tightening before the Fed (U.S. central bank), have supported stronger click "purchase" of the euro / dollar.

For a rate increase is indeed positive for the relevant currency, as it increases its return to investors. Here is the euro, which makes colors against the dollar would be shunned as relatively less profitable than the euro.

So this Friday morning, the euro is calm there on the foreign exchange market after the storm yesterday. Before the meeting of the ECB meeting yesterday, the euro settled on a strong technical resistance at 1.3860 dollar.Thus, whether the tone of Jean-Claude Trichet was less pronounced than expected, while the euro fell back quickly, he stated his goal is to arm themselves as soon against inflation which puts pressure on the Old Continent and the euro climbed.

The second scenario had taken place, the euro soared, almost touching the psychological barrier of $ 1.40. According to technical analysis, this upward trend should continue, to the point of joining the new resistance at $ 1.43. A level reached in November 2010.

Jean-Claude Trichet has panicked markets. His message was clear: at the first sign, the ECB will react even if the economy of the euro area must suffer. The ECB has no mandate to support growth or to assist countries in difficulty, it must ensure moderate inflation for all inhabitants of the area.

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Trading on supplementary pensions hardens

This fifth meeting lasted two hours and a half, and its agenda was presented to a future meeting. Venus discuss the benefits and marital family – widow's pension and bonuses granted to employees who have three children – the trade unions have shifted the debate on the issue of resources.

This Thursday, the social partners had initiated the meeting in a studious atmosphere, but negotiations have progressively strained. The CGT had called on workers to organize rallies – which have remained small scale with a few hundred people – all over France. "Having called the employees involved did have some effect on the negotiations", said to reporters Eric Aubin, leader of the CGT delegation."We had a pretty firm intervention of trade unions on the fundamental question of resources," he said.

Lower yields

Long surplus, private pensions of employees (Arcco) and senior (Agirc) suffered from the crisis and must draw on their reserves to stay in balance. Contrary to the general scheme, they can not actually be losing money. Their rate of return decreases over time and the unions have approached these negotiations with every intention of claiming the stabilizing additional resources."The rate of return over the past 17 years has declined from 25% to Arrco and 30% Agirc, which has the effect an immediate impact of a magnitude roughly equal in terms of replacement rate" , that is to say the percentage of the pension paid from the last salary, says negotiator CGT.

But if everyone agrees on the need to stabilize the rate of return, the remedy proposals diverge. Some unions do not exclude a small increase in contributions from employees. The CFTC proposes 0.4% over two years on the employee and employer contributions. An event which does not hear the employers' organization claiming a brake on competitiveness. Jean-François Pilliard, Medef like to share that the age for obtaining an additional full rate should be extended by 65 to 67 to match the general pension scheme.It also refers to a "greater coherence" between the two regimes and Arcco Agirc. An idea which is wary of the union CFE-CGC executives who do not want a merger. The employers also encourages the control of management costs which he estimated at 1.8 billion euros per year.

Socviaux partners must meet again on March 9. At the sixth meeting, the MEDEF submit for the first time, written proposals. The supplementary pension schemes Agirc-related Arrco 17.5 million private sector employees, including 3.7 million senior and retired 11.2 million, including 2.5 million former executives.They pay every year 63 billion euros in benefits, which account for two thirds of the Executive Pension.

(With AFP)

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The job was not enough to convince Wall Street

U.S. stock markets close an uncoordinated, on Wednesday. The Dow Jones gained 0.06% to 12,047.70 and the Nasdaq advance of 0.05% to 2752.65 points, while the S & P 500 lost 0.18% to 1305.28 points. Tuesday for the first time since June 2008, the U.S. index has crossed, close Tuesday, the 12,000 points mark, despite the continued unrest in Egypt.

On the foreign exchange market, the euro retreated against the dollar on Wednesday evening. Around 22:15, the euro bought 1.3806 dollars against 1.3831 dollars late Tuesday.

The better than expected U.S. employment in January

On the macroeconomic front, several indicators were expected in the United States. Job creation in the U.S. private sector were higher than expected in January, according to results of the monthly ADP released Wednesday.In total, 187,000 jobs were created during the first month of the year versus the consensus of 29 analysts polled by Reuters had forecast about 145,000. Moreover, the December figures were revised down to 247,000 against 297,000 originally announced.

Crude oil inventories rose sharply for the third consecutive week in the U.S., according to figures released Wednesday by the U.S. Department of Energy. They amounted to 33.2 million barrels to 28 January, an increase of 2.6 million.

Sanofi-Aventis year close to agreement with Genzyme

Genzyme: -0.29% to 73.36 dollars

The side of values, the merger between Sanofi-Aventis and Genzyme has taken another step forward. On Monday, the two sides reached an agreement in principle on the structure of a rapprochement.And Tuesday, a source familiar with the matter said that Sanofi-Aventis would have fallen for that, its offer to just over $ 70 off certificate of conditional value (CCV).

GlaxoSmithKline: -1.18% to 36.95 dollars

In the same area, the British group GlaxoSmithKline (GSK) announced Wednesday it sold $ 1.7 billion, all of its shares in the American medical diagnostic tests and Quest Diagnostics.

Electronic Arts: 15.81% to 18.09 dollars

Always on the side of values, after closing the American publisher of video games Electronic Arts has quadrupled its net loss during the third quarter of fiscal shifted, to 322 million, exceeding expectations, however. Indeed, excluding special items and reported the number of shares, this amounts to 59 cents beyond the 57 cents expected by analysts.The turnover amounted to participate in its $ 1.41 billion, slightly below expectations, and an increase of 4.75%.In addition, the group announced a share buyback of 600 million over 18 months, "a first for many years," says an analyst.

Western Union: 2.37% to 20.77 dollars

For his part, Western Union has reported for the fourth quarter earnings per share of $ 0.38, $ 0.35 cons expected by the market and $ 0.32 last year.

Aflac: -2.44% to 57.10 dollars

Aflac announced for the fourth quarter earnings per share of $ 1.33, $ 1.35 cons expected by the market and $ 1.18 last year.

Broadcom: -5.59% to 43.80 dollars

Also after market, Broadcom has released the fourth quarter 2010 revenues of $ 1.95 billion, in line with expectations against $ 1.34 billion a year earlier. The adjusted earnings per share rose to $ 0.58 against $ 0.32 last year.For the current quarter, the company targets a turnover of between 1.75 and 1.85 billion dollars against 1.46 billion last year.

Ford: -3.08% to 15.40 dollars

The rating agency Standard and Poor's (SP) announced that it raised its rating of U.S. automaker Ford BB-B + cons, together with a positive outlook, citing continuing economic recovery in the United States.

Google: 0.16% to 612 dollars

World number one search engine on the internet Google has accused his rival, the Bing website, copy the results it offers users what the computer group Microsoft has formally denied.

Also note, major banks and brokerages on Wall Street have made their employees pay record under past year, two years after the great crisis that devastated the area, according to the Wall Street Journal .The 25 largest institutions have paid their employees an unprecedented $ 135 billion dollars in salary and variable compensation. This amount is 5.6% higher than that paid for 2009.

JP Morgan Chase lost 1.05% to 45.45 dollars, Goldman Sachs was down 0.17% to 165.05 dollars and Bank of America was down 0.49% to 14.24 dollars and loose Citigroup 1.02% to 4.85 dollars.

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Fiber: SFR and Bouygues Telecom join forces

After high-speed Internet, high-speed Internet. To download HD movies, watch television and surf the Internet at the same time, just go to fiber optics, which allows for Internet access up to 100 megabits (cons 20 megabits at best, with the ADSL).

Yet, only 100,000 households have subscribed to the Internet with fiber, while 967,000 homes are eligible. But 2011 should be the year of launch. France Telecom to Free via SFR and Bouygues Telecom, all operators deploy their networks.

In this race being waged between the operators themselves, two heavyweights have decided to join forces. Friday, SFR and Bouygues Telecom have announced they will jointly invest in the deployment of the fiber. SFR continues to invest 150 million euros per year as it has for three years.About Bouygues Telecom, it should invest hundreds of millions of euros every year.

Pooling networks

The agreement between the number two and number three in the market is good news for two reasons. On the one hand, this means that both groups will go twice as fast in the deployment of the fiber, and give a boost to the market. Furthermore, this agreement allows the deal to balance against the juggernaut Orange, which some fear that he recreates his former monopoly.

Simply put, the two operators will share their investments and pool the horizontal networks, that is to say, the fiber that passes under the sidewalks to the foot of buildings. Then, SFR and Bouygues Telecom will continue to offer separate commercial offers guaranteed high risk personal loans.

Bouygues, which launched in October Bbox its fiber, used so far the network Numericable which he is tenant.By signing this agreement with SFR, Bouygues shows his commitment and confirms that it wishes to remain permanently in the service of fixed and mobile telephony. Returned to the fixed Internet in mid-2008 with its Bbox and success of his crime ideo, Bouygues Telecom had 645,000 Internet subscribers in late September. The agreement "allows Bouygues Telecom, a new entrant in the Internet, becoming an actor full of fiber," said Olivier Roussat, CEO of Bouygues Telecom.

For his part, SFR, was already a major player in the deployment of fiber optics in France. But the agreement "strengthens its investment capability and deployment," said Frank Esser, CEO of SFR.

Note however that the agreement covers only the areas densely populated, is the twenty largest French cities, where the deployment of optical fiber is profitable.Still, the real problem facing operators today is not able to enter buildings without obtaining the vote in GA condominium. Failure to obtain such agreements, building after building, hundreds of millions of dollars they have invested continue to sleep under the sidewalk.

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