Cardin seeks buyer, preferably Chinese. At age 88, the developer who owns 100% stake in his fashion house, said two weeks ago that he wanted to sell its entire brand. This weekend, in addition to the presentation of the new collection in China, Pierre Cardin has expressed its preference for a buyer's country.
"I had offers from buyers in the U.S. or England but I preferred because the Chinese are owners of my brand. That seems more polite to me, "he said, after The Tribune published on Monday. Courteous, but also strategic for the brand a strong presence in the country. Cardin, indeed, among the first French brands to move into the Middle Kingdom from the late 1970s. Today, the teacher has over a thousand shops.If the house, which is not publicly traded, is discreet about its turnover in the second world economy, she argues, however, expect a 20% annual growth in sales.
"If they can not afford, they do not buy"
The creator, star in China, announced it has already received offers of Chinese buyers, but declined to reveal their identity. According to La Tribune, which quoted the representative of the brand in China, candidates have tried to negotiate the purchase price of one billion euros in vain so far. For his part, Pierre Cardin was firm: "If they can not afford, they are not buying. They did not discuss. That's clear. "
In 2009, Cardin had sold 32 licenses in China textile and accessories companies Jiangsheng Cardanro and Trading Company, amounting to 200 million euros.
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Pierre Cardin is willing to sell its brand
This Friday at 11 am, the Professional Football League (LFP) will kick off the award of broadcasting rights of football championship of France from 2012 to 2016. The stakes are high, because these fees represent 668 million euros per year for professional clubs. This year is the outstanding total. On the one hand, the LFP to maximize its revenue, on the other Canal +, L1 traditional broadcaster, wants to reduce his bill, a current amount of 460 million euros. In 1999 and 2004, the LCS had raised the stakes by pitting Canal + and TPS. GST but was bought by Canal +. In 2008, the LCS had found a new ally with Orange which spent 208 million per year for the big game on Saturday evening and mobile rights. But Stephane Richard, the new CEO of France Telecom, has thrown in the towel. Canal + remains only candidate.
Between the LFP and Canal +, a real dialogue of the deaf.From the outset, the encrypted string against this plague tender premature and believes that she wants only to maintain its current offer with the big game Sunday night and three magazines. For his part, Frederic Thiriez, president of the LFP, claims that the outcome of the tender should be equal or superior to 668 million today. The economic equation is complicated: how to achieve this amount if Canal + does not put more than 460 million? The hole is potentially 200 million.
Prize Structure
"Not at all," Jean-Pierre Louvel tempers, chairman of the Union of Professional Football Clubs UCPF. "With the explosion of smartphones, the mobile may be worth lot more than the current 60 million paid for by Orange. Secondly, the LFP can make its product more attractive by improving its exposure with a game Friday night and a special day during the winter break, "he says online payday loan lenders.In fact, the LFP and the law firm Clifford Chance should put together a bid with many prizes: a match on Friday evening, a Saturday afternoon games on Saturday evening, a Sunday at 2:00 p.m. , games on late Sunday afternoon and the big poster on Sunday evening. Added to this lot and the three mobile magazines.
Canal + contends that the splitting of lots reduced the value of the whole and that the chain can not explain the matches from Friday evening to Sunday evening on the air. Above all, the group believes that the key is not lots but structuring the necessary reform of financing of French football. This can mean a reduction from 20 to 18 clubs of L1 and a lower financing League 2 which receives 19% of the amount of football rights, or 120 million euros per year.Clearly, to reduce the bill of football, Canal + offers to save on money paid to the L2 and concentrate on the manna of human L1 18 clubs instead of 20. Categorically rejected suggestions by Jean-Pierre Louvel the UCPF. "The L2 is used to form the top players and eliminate two clubs L1 would have serious consequences on the regional economy." But the big clubs, Lyon, Marseille, Lille, Bordeaux, Paris … might be tempted by a championship tighter.
The tender may thus be complicated. The LFP has put a reserve price on all lots, it might be unsuccessful. Negotiation of mutual agreement between the LFP and Canal + could then be opened. And if all lots not find a buyer, the LFP has the possibility to expose some matches on its TNT channel future pay, CFoot.This channel will be widely distributed on satellite and cable ADSL and fans can subscribe to monthly or deed.
The acting continues to support job creation. In progress since March 2009, this indicator is very sensitive to the economic climate has again registered an increase in the month of March, according to the employment center. It rose by 0.6% over one month and 14% in one year. All sectors recorded an increase in their numbers acting, except construction, affected by the reduction in tax benefits related Scellier. In 2010, the interim had already jumped over 20%, explaining to him almost every single job creation.
The job market is fragmented, however, still more: in parallel with an increase in temporary employment in total employment, the tasks assigned are becoming shorter. For three years, their average duration is in steady decline: 10.1 days in 2008, 8.9 days in 2009, 8.7 days in 2010.Missions of less than two weeks, which constituted 81.5% of contracts in 2010, are growing steadily, employment center is in a note. As for very short assignments that do not exceed the day, they accounted for a quarter of that date the temporary employment total.
Seniors join the ranks of temporary
If all sectors and all age groups are affected by these developments, the elderly are most affected. The average duration of a mission returned from 10.4 days in 2008 to 8.3 days in 2010 for over 50 years. Sign of growing insecurity of job market, older workers are also more numerous (7.6% in 2010) to swell the ranks of temporary staff, as well as managers and associate professionals (8 , 3%).
Even among workers, skilled gradually supplanting the unskilled.Youth and workers, however, continue to provide the bulk of temporary staffing. A further positive sign: as the economy recovers, temporary assignments frequently lead to a more permanent contract, CDD or CDI. According to a poll released Thursday and conducted by Prism, the union for professionals in the interim, and the Observatory of business and employment, 29% of temporary workers were hired in March 2011, against 20% in 2010.
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Customers should they pay more for their Internet access if they over-consumption of online video? Providers of Internet access they can slow the rate of subscriber connections that download on the Internet? No and no, slice the report of the mission on the neutrality of the Internet and networks, introduced Wednesday by deputies Laure La Raudière (UMP) and Corinne Erhel (CBC) Economic Affairs Committee of the National Assembly.
Anxious to "protect the Internet" in its current form, they detail the nine principles that should ensure an open Internet or "neutral" for Internet users. Proposals trenches that contrast with the approach of a "traffic control" as proposed by the Minister of the Digital Economy, Eric Besson.
The cornerstone of this report is the inclusion in the law, the principle of net neutrality.Its definition could be slipped in the Postal and Electronic Communications: "Capacity for Internet users to send and receive the content of their choice, or use the services to run applications of their choice, connecting the equipment of their choice (…) with a transparent quality of service, adequate and nondiscriminatory. "
The report also estimates that only obligations of a judicial or security must justify blocking access to the Internet. Therefore, access to file sharing sites should not be blocked upstream. "The network would not be neutral if the peer-to-peer was degraded," say the MPs, because peer-to-peer is used both to pirate music or movies that innovation as Internet telephony Skype.This does not apply the law to hackers.
Participate in financing
It does not include the principle of network neutrality into law, it is still necessary authority to enforce it. This authority could be the policeman telecom Arcep or judge. The authority will be particularly responsible for preventing telecom operators to restrict access to Internet content. The report wants to "reserve the term Internet access to only deals with the principle of neutrality."Thus, a mobile operator could no longer sell "unlimited Internet packages" when consumption is limited for example 500 megabytes per month or if it refuses to install applications like Skype Internet telephony.
If equal access to the Internet and is ringfenced from the Internet side, it remains to ensure services for publishers – video platforms, social networks, connected TV applications. For the service providers, the report proposes to "further reflection" on their participation in the financing of the Internet and network investment. He claims such a precise study of the costs of increased traffic on the Internet.Where appropriate, the report recommends that a mechanism by which sites get the traffic (such as YouTube, Google, Facebook, Skype …) are involved in financing networks by paying a kind of right of way. "It would stabilize the cost sharing of the network … and could encourage smaller players content," the report said. But it's a story at the European level.
After an initial meeting weekly with no real trend, but a Dow Jones closed at its highest level in almost three years, U.S. equity markets should open very carefully on Tuesday, or even slightly down. At 12:30, the contras futures on the Nasdaq 100 and S & P 500 retreated 0.89%, respectively, and 0.44% at 2319.75 points and 1323.30 points.
They follow and pessimism seen on Asian markets, where apart from Shanghai and Hong Kong, closed on Tuesday, the Nikkei closed down more than 1%, hit by falling Tepco. Elsewhere in Asia, other financial markets were maintained. In Paris, pessimism was more marqué.Après having opened at equilibrium, the benchmark index in Paris fell back by 0.7% in mid-session.
After a Monday without major macroeconomic data, indicators on the health of the U.S. economy will still be scarce today.The ISM index of activity in services is expected in March to 16 hours. At 20H00, investors should also pay attention to the publication of the minutes of the Fed. What still leave room for a large international events and international events, primarily Libya and the political situation in countries of North Africa and Middle East
For weeks, these geopolitical events strongly impact the price of oil, which continues to run around $ 120 a barrel in London. "However, the U.S. indices show a high resistance to higher oil prices" moderates Christian Parisot at Aurel BGC. These have reached new highs in New York and London this morning, where the barrel has exceeded 120 dollars for the first time since August 2008.The Saudi oil minister, for his part felt that crude prices could reach 200 to $ 300 if the protest movements reached Saudi Arabia, the world's largest producer of oil.
Very low volumes, wait until the first quarterly
"The volumes are anemic, less than a third to a session average payday loan online…" said Christian Parisot. Yesterday on Wall Street, the volumes traded on the Dow Jones did not exceed $ 114.3 billion. In future sessions, attention should also be persistent. The publication of quarterly results Monday from aluminum giant Alcoa, traditionally the first American group to disclose its financial results, should give the animation of the exchanges.
Side currency, the euro lost it again a little ground Tuesday after hitting the day's highest level in five months, traders ensuring some benefit in a cautious market anticipates a rise Thursday in the rate of the Bank European Central Bank (ECB). Around 11:20 in Paris, the single currency was worth 1.4182 dollars against 1.4220 dollars on Monday in 23:00.
Finally, the corporate side, many values are to be monitored, including:
Google – the Internet giant said it could be the target of an extensive investigation by the U.S. Federal Trade Commission, regarding possible anticompetitive practices. An investigation that could jeopardize the acquisition by the group of ITA Software.
Texas Instruments – manufacturer of semiconductors has announced tonight the redemption of his fellow National Semiconductor for $ 6.5 billion.
Note that according to the Wall Street Journal, the exchange operator Nasdaq OMX-like lower than 20% to 12% weighting in the Nasdaq 100's electronics giant Apple. Other technology stocks would be affected by this new calculation, such as Oracle and Intel (downwards), while Microsoft, and Cisco Systems would increase their weighting.
Bank of America – The giant bank would be under increased surveillance of the U.S. market regulator (SEC), which asked him last week to provide more detailed data on its financial reserves to enable it to cover the cost of mortgages repaid name.
• Pricing of gasoline at the pump • Price: the reasons for the surge • The difficulty falling consumption • "Get used to high oil prices" • Set the price of gasoline at the pump • Price: the reasons for envoléeTroubles …
The Courdi accounts furnish his report Friday on the Franco-German tax convergence. According to our information, this report concludes that there is some leeway in France for the VAT hike, but they should be used as part of a major tax reform. He advocated focusing instead on business taxation in order to align the two countries 100% free credit score.
The Court would consider in the future produce a joint report with the Germans focused on corporate taxation. This time it was a true co-relation. The report was issued Friday, he, been realized only by the French Cour des Comptes, which relied on the help of German authorities.
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 figure is historic. The hole public finances widened to 148.8 billion euros in 2010 against 138 billion a year earlier, said the Budget Ministry on Tuesday. This is not unexpected, as the minister has already spoken Baroin mid-January a similar amount during the presentation of its balance sheet in 2010. The deficit is well below one billion euros from estimates in September and should be a little less than 7.7% of gross domestic product (GDP).
The French budget was the victim of a margin squeeze due to memories of the crisis: spending and increased revenue has not covered their level before 2009. On the one hand, income taxes and related taxes, whatever the rise, have remained low and amounted to 274.9 billion euros (against 237.2 billion in 2009).In detail, tax revenues, the lowest in 2009, jumped 17% last year. Particularly affected during the crisis, the corporate tax has regained some lost ground (57.2%). The VAT revenue rose 7.5% and income taxes of 1.7%.
Expenditures, particularly related to the "great debt" and welfare systems, for their part, increased by 15.9%, reaching 452.7 billion euros in 2010 against 367.1 billion the year before . Involved, social protection expenditure, linked to rising unemployment, but also the Grand borrowing and "investment for the future".This last item of expenditure will still not taken into account when calculating the budget deficit following the European rules payday loan.
Objective 2011 "achievable"
In 2011, tax revenues of the state should continue to increase, and the effect of the "great debt" on public finances will disappear, "said Dominique Barbet, in essence, BNP Paribas. "As a result, the deficit of 148.8 billion euros to 92 billion euros, as the government wants, is feasible," said he."Similarly, the deficit target of 6% GDP could be achieved, especially if growth is close to 2% as required by the government." One hypothesis considered optimistic by economists until the publication by Banque de France on Tuesday morning for a first estimate of economic activity increased in the first quarter of 2011.
The government intends to reduce the public deficit to 4.6% of GDP next year, then to 3% in 2013, the limit set by EU rules. Nicolas Sarkozy intends to introduce a second "golden rule" constitutional deficit.Clearly it is, as already done in Germany, set a limit to the deficit in the constitution.
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The new governor of Bank of Tunisia launched in Davos, a call to the international investor confidence. Echoing one of the slogans of the protesters that led to regime change, "democracy is good for investment," Mustapha Kamel Nabli said that "the payment system works, as banks and foreign payments and there is no pressure on the exchange rate. "
He did acknowledge that some sectors such as tourism he said, are being "disorganized" because of political changes. Nevertheless he believes that the economic situation is "under control. We do not need any outside help. Our foreign exchange reserves are strong. "Deliberately adopting a technical language, this former academic who went through the World Bank, explained that "the fundamentals (economy) is good, the workforce is educated."
Asked about the country's gold reserves, he said a physical inventory has been made by a team of two internal auditors and two external auditors to the Bank. It appeared that the gold reserves held in the coffers of the institution in Tunis s raised to 5.7 tonnes, combined 1 payday loan lenders.4 that was tabled at the Bank of England. Total reserves are consistent with the actual IMF figures (nearly 6.8 tons).Contrary to rumors that the wife of former President Ben Ali would have won 1.5 tons belonging to the Central Bank, the reserves of the latter are intact.
A former executive of Ernst & Young
Mustapha Kamel Nabli identified himself as an academic, who joined the government after Ben Ali in 1990, broke away in 1995 to emigrate. He is accompanied in Davos two new ministers who have just been appointed. On the one hand, Yassine Brahim who support the Ministry of Infrastructures and Transport and other Sami Zaoui. This was until very recently a part of the auditing firm Ernst & Young in Paris, where it was established 23 years.He is now head of the Department of Computer Technologies and Information.
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