Angela Merkel may not be smiling to welcome Francois Hollande Tuesday night. The Christian Democrats (CDU) of German Chancellor Sunday suffered a stinging defeat in a regional election in North Rhine-Westphalia, the most populous state in Germany.
According to partial results yet, the federal opposition Social Democrats (SPD) won the election with 38% of the vote. Environmentalists have raised 12% of the vote, the SPD-Green coalition outgoing should continue to govern this state.
For its part the CDU has collected approximately 25.5% of the votes, or about 9 points lower than in 2010, her worst score ever recorded in this region. This defeat adds to a long series for black liberal-conservative coalition in power in Berlin since 2009, it failed to surpass the 5% in six regional elections, and lost its historical stronghold of Baden-Wuerttemberg.
Merkel remains popular in polls
Although the North Rhine-Westphalia is a historical bastion of the left, this result sounds like a warning to the Chancellor, to 16 months of the legislation. A week after voters in France and Greece have shown that they wanted more austerity, the Germans of this region of western countries have chosen the SPD, very critical of the policy austerity practiced by the Chancellor. "This defeat is bitter, clear and it really hurts," admitted the local leader of the CDU, also Environment Minister Merkel, Norbert Röttgen. He at the same time tried to protect the Chancellor, ensuring that it was "above all (his) defeat" and resigning from the regional party.
If his party string of electoral defeats, Angela Merkel seems to always enjoy great personal popularity. National polls show that the Germans know it will promote fiscal austerity to cure ailing eurozone. Besides, in North Rhine-Westphalia, the Free Democrats, staunch supporters of austerity, collected 8.5% of the vote, nearly triple the 3% they receive from national surveys. However the formation of extreme left Die Linke – model Jean-Luc Melenchon – has not passed the 5% threshold of votes necessary for MPs.
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Finally, the new stadium in Lille will be delivered on time. "We'll play mid-August our first game of the season at home," says Michel Seydoux, chairman of the LOSC which evolves in Ligue 1. But behind the scenes, the standoff is not over. Reportedly, Eiffage who built this house demands a hundred million to his client, the urban community of Lille. Concerned, administrative delays that forced the construction group to leverage teams to meet deadlines.
With the organization of Euro 2016, France has decided to rejuvenate its fleet of stages. Four out of the ground and go four or five others will be renovated. Operations treacherous. Especially for construction groups that often lead these operations as a PPP (public private partnership-). Clearly, they build these speakers with their own funds and bank loans and are remunerated by the operator of more than thirty years. Vinci will manage this formula with the new stadiums in Nice and Bordeaux, Lille and Eiffage that of Bouygues Stade Velodrome, Marseille being renovated.
The obstacle course begins with countless appeals to justice. They can block the project because if they are serious, banks may freeze their loan. A random number taken seriously in view of the foregoing. At Valenciennes, the new stadium was delivered in July 2011 with a year late. The work was interrupted several months due to legal proceedings.
In Bordeaux, the partnership agreement itself, which is contested before the Administrative Court. "The process is ongoing but does not prevent us from pursuing studies prior to construction should begin in a few months," said Fadi Selwan, development director of Vinci Concessions. The Group therefore maintains delivery in 2015.
Disappointment at Le Mans for Vinci
In Nice, there is an appeal against the building permit. But banks have tried without real danger. They finance the construction site so that advances at a good pace. And the stadium should be finished, as agreed in the summer of 2013. Same optimism to meet deadlines in Marseille while the renovation takes place in the Velodrome stadium where an OM continues to play its games. "The major work is completed and a forum of four is remade," Bruno slips Botella, Bouygues support to manage this grant. Result, the Velodrome, in its new configuration, scheduled to open in June 2014.
Once completed, the hard part begins for construction groups responsible for operating these speakers. For this brand new business may be of surprise, as was discovered by Vinci, dealer of Le Mans stadium, inaugurated in January 2011. This enclosure was configured to seat 25,000 for a club in Ligue 1, or the home team is behind the bottom of the standings in League 2. "We have significantly reduced the rent charged for the Le Mans FC matches and the club did not make the 6 million to the concessionaire as planned," says one at Vinci.
The risks are smaller for stadiums built in large cities. But several questions remain. For example, to maximize their operations, construction groups expect all of revenue related to the organization of concerts and shows in addition to games of the resident club. The stage is betting on Lille from 20 to 25 such events. The Velodrome in six. Remains to be demonstrated that there is enough events could fill a stadium area.
Finally, all expect finding a group willing to pay five million a year minimum to give his name to the stadium. But for now, nobody has found a generous patron.
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Chambers of commerce and industry want to work with the new president and new government on major economic issues: SMEs, industry, international business development, training and learning. "We are a driving force. We are not in the claim, "said Jacques Pfister, Senior Vice President of the Assembly of French Chambers of Commerce and Industry (ACFCI) and President of the Chamber of Commerce and Industry of Marseille Provence in presenting the 22 proposals of the network of chambers of commerce and industry.
Sign of this willingness to change and to affirm their desire to play leading roles in major economic debates, chambers of commerce and industry adopt a new logo, "CCI de France." "There are not many networks of entrepreneurs also involved in the economy of the territories and as close to the territories. We are a private Datar, "says Jacques Pfister, referring to the Directorate of Planning.
Chambers of commerce are active in many areas. "They are machines to do economic development, to train young people to manage infrastructure," says Pierre-Antoine Gailly, second vice-president of the ACFCI and President of the Chamber of Commerce and Industry of Paris. They train apprentices. They welcome students into their business schools. They manage airports or ports. They support SMEs internationally. They help entrepreneurs. They look after employment. "The Chamber of Commerce Marseille Provence 1000 supports RSA beneficiaries per year for four years," said Jacques Pfister personal loans for people with bad credit.
Simplification of yarrow territorial
Anxious to participate in the economic recovery, the Chambers of Commerce argue that France gets a real industrial ambition. They want to make 2013 the year of the industry. They offer a one-stop financing industrial area to help entrepreneurs to find funding.
The launch of a contingency plan to enable SMEs to enter new markets is asked to stop the decline in the number of exporting companies that are not more numerous in 2011 than in 1995. Large groups will be forced to work with "a share of SMEs and SMIs in the French part of their contracts together abroad."
Noting that France is over-managed and that the powers of territorial and state overlap, chambers of commerce and industry urge a simplification of territorial yarrow, strengthening the role of cities and best use of ports or airports. "It is possible to create a% of GDP higher if we reflect on the cities and provide 1% of GDP higher by focusing on the ports of Marseille and Le Havre," said Jacques Pfister.
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Inspired by the French Socialists, the German Social Democrats just put a swing to the left. The SPD has decided to revive the wealth tax. Four German states, ruled by the great party of the Left, have announced their intention to submit before the summer in the Bundesrat, the upper house of Parliament, a bill for the reintroduction of a "Vermögensteuer" (ISF) modernized.
"The SPD has never hidden its emphasis on social justice. We can not simply cut down spending to meet the golden rule. That is why we are determined to pave the way for the reintroduction of the wealth tax, "said Carsten Kühl (SPD), Minister of Finance of Rhineland-Palatinate. Led by the SPD, Rhineland-Palatinate, North Rhine-Westphalia, Baden-Wuerttemberg and Hamburg will present, before the summer break, their text in the Bundesrat, which are represented the German regional states.
Their proposal includes a tax rate of 1% for individuals and businesses. This should apply to people whose heritage is over two million and save the middle class homeowners. Calculated by the SPD, this FSI could relate to the federal state between 8 and 10 billion euros per year. However the text is unlikely to be adopted in the Bundesrat, where Angela Merkel has lost its majority, but where the SPD does not have an absolute majority cheap business cards. And it would still be ratified by the Bundestag, the lower house of parliament, dominated by the center-right coalition of Chancellor.
Elections
Whatever. For the SPD it is to lay the groundwork for the legislative elections of 2013. The German Social Democrats had considered the proposal outrageous tax to 75% of the very rich made by Francois Hollande. The reluctance of the socialist candidate against the golden rule also raise the misunderstanding of the German left. But she sees the ISF a good opportunity to stand out from the Chancellor on matters of taxation.
Across the Rhine, the income tax is capped at 42% with a special 45% said "tax the rich", for those whose monthly income exceeds the 250,731 euros. The Constitutional Court in Karlsruhe ruled in 1995 that the income tax could not exceed 50%, whereas beyond this was a confiscatory measure contrary to the fundamental law. And the federal government, which has never carried out the modernization demanded by the Court in Karlsruhe, has stopped collecting the tax on capital in 1997.
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In Rome,
Even Professor Monti can not perform miracles. In the Document for Economic and Financial (DPEF) covering the years 2012 to 2015, on Wednesday approved Wednesday by the Cabinet, it is written that Italy will experience a recession in 2012 equal to 1.20% of GDP. However, until now, the government expected a 0.4% growth this year. The activity will walk away from the front in 2013 – timidly – to double next year to 1.2% in 2015.
Logical consequence of this failure of growth, the government recognizes that a balanced budget, wielded far as priority, will struggle to be reached in late 2013. Vittorio Grilli, Deputy Economy Minister now speaks of a deficit of 0.5% of GDP next year, adding that "overall structural balance and not episodic" is reached. A scenario much more optimistic than the IMF in its forecast released Tuesday estimates that Italy will not reach equilibrium before 2015.
Another sensitive indicator: public debt, which stood at 123.4% of GDP at the end of last year. It would decline to 120.3% this year, 114.4% in 2014 and 110.8% in 2015, when the simplification and liberalization adopted earlier this year will come to full speed, generating additional growth assessed 2.4% of GDP in 2020.
In presenting these figures, the chairman, Mario Monti, sought optimistic: "Our action has demonstrated safety of the public accounts. We will have a primary surplus (excluding debt service) of 3.9% next year. " Despropos primarily for financial markets, which have recently hosted the Italian slippage. MIB30 index of the Milan Stock Exchange closed sharply lower by 2.29%.
The balancing act that requires Mario Monti has become particularly difficult fast payday loans. It must assure citizens that their efforts are, not to undermine confidence without complacency. Mario Monti has paid tribute to the sacrifices "very high" imposed on the Italians, "we are fighting every day to avoid the fate of Greece," he said, deliberately severe.
But in a country where the tax burden – 45.1% of GDP – reached a record high and unemployment was 9.3%, an increase of rigor seems now to be excluded. The salvation is through more growth. This is why the government on Wednesday adopted a national reform agenda based on five priorities, which will mobilize tens of billions of euros. The 'major projects and public infrastructure "alone include 20 billion euros in public funding per year for three or four years for priority equipment, rail, road, airport, hospitals, schools, … Another sensitive issue: the immediate payment of the arrears that the state owes to private companies, whether of central or local governments. Twenty billion euros of state guarantees will be released to allow private creditors to enforce them at banks. Six billion will also be reimbursed immediately by local governments. Tax incentives, practical support to business creation and drastic simplification of administrative procedures should also encourage the resumption of activity. An effort of three billion euros a year for twenty years will be made in favor of renewable energy. Finally, the Senate passed Wednesday on a final golden rule placing a balanced budget in the Constitution. Mario Monti handling is the core growth budget and stick.
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Concern is growing about employment in the telecom sector. Jean-Claude Mailly, general secretary of the Workers Force, wrote to Constable telecom (ARCEP), with a copy to Francois Fillon, a letter to "attract (his) attention to the impact of the fourth mobile license in the sector ". An appointment was set with the President of ARCEP, Jean-Ludovic Silicani next Monday late afternoon.
"Our fears are a large alignment with lowest social ultimately affect employees in terms of pay, job destruction and group benefits and more generally on the future of this branch , "wrote Jean-Claude Mailly. "The public authorities must establish as quickly as a regulated framework for preventing the destruction of jobs and preventing these abuses do not fall into place," he adds.
Concerns for call centers
End of March, in an interview with Le Figaro, Jean-Ludovic Silicani indicated that the sector "risks losing about 10,000 jobs in two years." But this destruction should be creating value, generating new jobs at Free Mobile first, but also in related sectors such as electronic commerce or the Web.
A macro view is far from convincing FO. "Our feedback from the field we are rather echoes of 30,000 job cuts on the entire industry," said Pascal Pavageau, FO confederal secretary in charge of economic and industrial.
Orange, SFR and Bouygues Telecom, destabilized by the arrival of a new competitor, of course, have interest in stirring the cloth of employment quick guaranteed personal loans. "Some may want to cry wolf. But we see that restructuring is already underway among operators: contracts are stopped, benefits with subcontractors shall be adopted, the new hires are canceled and call centers are now going abroad, " Pavageau said Pascal, even claiming that "3% to 7% of jobs in France are starting to be outsourced, mainly on call centers." In the medium term, the union also fears that the sector is no longer able to invest as much in development, innovation and research and development.
That is seeking its FO meeting with the regulator? "First, we want to immediately and quickly, from the regulator and the government, an overview of employment in the sector, says Pascal Pavageau. Second, we want the government obtain a commitment of four operators in the maintenance of employment in France and their investment opportunities. "
The union will even consider that Oseo or ISPs may be called on to provide funding, if necessary.
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Champs-Elysees, Fifth Avenue … This is the new playground for Kusmi, the French retailer of tea bobo to conquer the urban working women and 30-50 years. Bought in 2005 by Sylvain Orebi, former dealer in cocoa and coffee, this old brand founded in the nineteenth century Russian wants to move up a gear. "We want to be the first premium tea brand in the world, and we give ourselves the means, the goal being to exceed 100 million by 2015", against 17 million in 2011, said Sylvain Orebi.
Kusmi, which covers over 25 million euros this year, intends to dethrone Mariage Freres, which has emerged as the champion French high-end tea. His credo: to succeed in the tea brands that Illy or Lavazza coffee in the. "There is no comparable success in the tea sector, said Sylvain Orebi, which imposed its colored metal boxes and does his decaffeinated tea Detox a bestseller. We very much rejuvenated the image of tea, with an affordable brand and shops where they can enter easily. "Positioning different from Mariage Freres with its servers in white gloves.
Kusmi now accelerating the creation of its network, focusing on the development of its own boutiques, alongside corners in department stores (BHV, Galeries Lafayette …) and selling fine foods and Monoprix. It has thus, according to our information, to rob the beard of his main competitor's future location on the Champs Elysees to open in July. Located at No. 71, between Nike and Ladurée, it will bring international visibility.
Drinking tea
Her store of 250 m2 will include a tasting area called "tea bar" with pies, cakes and cookies made on site. "This will be the flagship for Kusmi foreshadowing what could be our shops in the future," said Sylvain Orebi. A concept that will also declined in the new shop on Avenue de l'Opera, which will open this summer.
His ambitions do not stop at uptown Paris. Kusmi also landed in malls, Saint-Lazare in Confluence (opening today) through Beaugrenelle, inaugurated next year. After Bordeaux, Toulouse and Strasbourg, it also provides a twenty openings in the province by 2013. Finally, he put on the outside the home to establish its reputation. It has just been chosen by the Barrière group to appear in the map of his breakfast. The international not currently represents only 30% of its turnover. But Kusmi goes fast. It could open this year in London and Milan. After New York, where he will open a second store this summer at the Plaza, it targets California.
The crisis has not dried up its funding sources. Sylvain Orebi, whose company has been profitable since two years, has raised € 7 million over three years via Audacia, the investment fund chaired by Charles Beigbeder, who owns 31% of Kusmi. After taking a 50% Laura Todd cookies via Orientis, the holding company co-owned with his brother, he wants to continue investing. He is looking for acquisitions in the fields of sweet delicacies, ice cream or cakes.
Reality is catching up a little more science fiction follows the success, yesterday, the first test flight of a flying car. The U.S. company Terrafugia has announced that its prototype small plane that runs on the road with folded wings flew for 8 minutes.
The vehicle called transition could well be marketed within a year, said the company whose name is Latin for "escape from land". The group's founder, Carl Dietrich, believes that the dream of many motorists is now within reach the steering wheel! "With this flight, our teams have demonstrated their ability to make real what was until now considered an impossible dream," he said.
The vehicle is expected to cost 279,000 dollars (213,000 euros). The company said that the new materials and a computer aided design used to reduce the price and weight of these vehicles to make them more accessible. More than a hundred copies have already been pre-ordered as well.
Failure of previous attempts
Moreover, the model approved in the U.S., has a range of 787 km and a width of 2.3 m version of the car can park in a garage classic. Once the wings, the model is 8 meters wide.
A track of 762 meters is necessary.
What relationship between soaring pump prices and unemployment? According to economist Etienne Wasmer, Professor at Sciences Po Paris, of high fuel prices could deter some French to take a job: "Rising fuel prices, draping in the cost of traveling between home and work, could have a negative effect on employment. "
Difficult to say how many people are in this case. But it is possible to draw a sketch of the ideal victim of rising fuel prices. "It affects rather low wages, those who have little hope of earning more by working away," says Régis Bigot, Research Center for the Study and Observation of Living Conditions (documentary credit). In sum, the French low-skilled, paid at minimum wage, usually working part time.
The owner of Jack Daniel's is in better shape than ever. Not only are sales of Tennessee whiskey, the fifth alcohol brand in the world after Smirnoff, Johnnie Walker, Bacardi and Absolut, are distributed in the U.S., but exports and accelerate the sales of other brands of Brown-Forman, whose Finlandia premium vodka and tequila El Jimador, is still growing as fast.
In total, the U.S. group Brown-Forman is getting ready to buckle on April 30 its 2011-2012 fiscal year with sales up 4% on a comparable basis compared to last year, when they reached 3.4 billion dollars. Operating profit is expected to jump by 8% (855 million last year). "In this sector, where the top ten players realize only 25% of the world, the race for size is not necessarily the best strategy, says Le Figaro Paul Varga, his boss. With margins generated by the sale of spirits, medium-sized groups can succeed. "Listed on Wall Street, the group founded in 1870, whose heirs hold 175 two-thirds of the voting rights, is somehow anti -Pernod Ricard. The French, whose objective is to steal the place of Diageo spirits market, multiplies decade mega-acquisitions: Seagram, Allied Domecq, Absolut. He expects to have reduced its debt to pursue the quest for external growth.
A group without debts
The U.S., he does not caress such dreams of grandeur, seeming satisfied with his seventh place in the world rankings, just ahead of the Italian Campari. Its leaders and family shareholders are vigilant, however. They not only take care not to fall prey, but they remain on the lookout for acquisition opportunities all medium.
This is the group's strategy since Prohibition. From 1920 to 1933, Brown-Forman was one of four U.S. companies authorized to produce alcohol for medical use. He took the opportunity to redeem distilleries … Virtually no debt, it now has a debt capacity estimated at 4 billion. "We will add more vodka brands to expand our portfolio, especially in entry and mid-range," said Paul Varga. The skipper, who wishes to expand in Central and Eastern Europe in this segment precludes a "no comment" to questions about his possible interest in Sobieski vodka for sale by the Franco-Polish Belvedere ( Marie Brizard, William Peel cash advance loan…).
France, emerging country
Brown-Forman, confident in the potential of the worldwide whiskey category, is also interested in acquisitions of brands of scotch whiskey and irish, based on barley, while Kentucky bourbons and Tennessee whiskeys are composed of 51% corn.
He finally target acquisitions enabling it to accelerate the internationalization of its flagship brand Jack Daniel's. Redemptions of Finlandia (2000) and El Jimador (2007) enabled him to acquire distributors in Central and South America. The group now has distribution subsidiaries in ten countries. What less dependent on its partnerships with competitors where it does not have the critical size. In most cases, as in France, he confided to the marketing of its Bacardi bottles. Then he realized in 2001 over three quarters of its sales in the U.S., this market last year represented only 45% of its turnover.
Outside the U.S., Brown-Forman does not fight on the same land as Diageo and Pernod Ricard. "Our emerging markets are different from those of our European competitors, says Mark McCallum, commercial director of the group. We continue to build on the country they regard as mature, with the aim to gain market share in France, Germany, Russia and Ukraine. "However, China and Brazil, the group sets objectives in the medium and long term. "To impose on the Chinese market today is expensive. And the risk of counterfeiting is high. As Diageo and Pernod Ricard are not fighting, we prefer to go elsewhere, "said Paul Varga, who nevertheless seeks to buy a brand of Baiju, the more alcohol sold in the country
.
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