Beginning last June, when Valeo has raised its outlook for the first semester, the group's management was expecting a turnover of 4.7 billion euros (+35% compared to the first six months of 2009) and was a operating margin of 6%, a level reached more than eight years.
This optimism came after the announcement of an activity in the first quarter, up 42% thanks to a rebound in production for the automotive sector at a very low cost structure and prices of raw materials declined. The shares had risen 7.5% while then 3.5% over the two sessions that followed the increase.
This Tuesday, July 27, Valeo announces half year results even better than expected turnover stood at 4.787 billion euros (+38%).The bottom line, it passes from red to green, with a profit of 168 million euros in the first six of 2010, against a loss of 213 million euros over the same period of 2009. And the operating margin reached 6.1% against 1.5% a year ago. This is the highest rate for ten years.
The growth of automobile production has been particularly dynamic in Asia (+43%) and especially China (45%). In the U.S., the increase reached 72%! Normal, after a first half of 2009 severely affected by the fall in production and the restructuring of some U.S. manufacturers.
In Europe, sales increased 23% despite the end devices scrappage and stabilization of registrations in the first half of 2010 (+0.2% versus the first half of 2009)."This phenomenon is due mainly to the effect removal of 2009 and the increase in exports outside Europe," the company said in its financial statement.
Now, Valeo expects operating margin for the year 2010 to a level "greater than 5%.
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J-1. That Tuesday morning Eric Woerth will present his Cabinet bill on pension reform. This text provides for the postponement by 2018 the legal age of retirement at age 62 (as against 60 now) and increase by 2020 the contribution period for a full pension at 41 5 installments. It also proposes to raise over 10 years to 10.55% of gross salary pension contribution rate of employees.Meanwhile, the government plans to introduce draft consideration – unprecedented – the strain at work to enable employees who have had a difficult career to continue to retire at age 60 but also extend the system "long careers "which allows people who started working early to liquidate their retirement before age 60.
"Unjust and unacceptable"
Trade unions, traditionally opposed the reforms they consider "unfair and unacceptable" because it would further inequalities have already planned to protest during the presentation of the Council of Ministers."The proposed reform does not respond to questions of employment, particularly youth and seniors, or the reversal of gender inequalities, or to the recognition of the hardship … It refers to the uncertainty of future generations sustainability of pension secured by the division, they were justified in a statement.They also criticized the closure of financial reform that puts "more than 85% of efforts" to employees only and require "a different distribution of wealth produced, particularly through higher taxes than expected capital income and senior income 100% free credit report.
Eric Woerth's proposal to improve the bill at the time of the examination to the National Assembly from September 7 on three aspects of the text (strain at work, and long careers polypensionnés) has yet not had the desired effect. Even the beginnings of a better consideration of the prevention of the hardship brought up by the entourage of the Minister of Labour at a meeting with labor, has left them unmoved. "We want a broader discussion, said Friday Eric Aubin, the negotiator of the CGT, after an interview Rue de Grenelle.The position of the government that it seeks to show a continued dialogue. But we ride seriously and it confirms our intention to build a strong mobilization on September 7. "
On this day, the unions have scheduled a new day of strikes and unit mobilization, hoping to do better than June 24 when 800 000 people (and by 1.9 million CGT) had beaten the streets across France to protest against the postponement of 60 years. And thus weigh more on debates in Parliament. They do not despair, no longer convinced by that number of MPs to amend by Social Affairs Committee – where the text will be examined from July 20 to 22 – the bill. The CFDT has also planned to "harass" the summer MPs in their constituency.Act II of the 2010 pension reform does so may just be beginning.
"SPECIAL – The challenges of pension reform
Funny idea that this loyalty program that focuses on infidelity … the customer! Yet it is betting that the Prufrock Coffee, a trendy café located in east London, has dared to face. Since late 2009, the hotel offers its clients a "Disloyalty Card", a map of "disloyalty" which invites them to take eight bars cafes in the neighborhood and make this famous stamp card. Once the "Disloyalty Card" filled the Prufrock Coffee offers coffee consumer "infidel" who for any coffee paid off again with a new card.
This concept has been designed by the owner of Prufrock Coffee, Gwilym Davies, also won the title "World Barista Champion (world champion of the coffee) in 2009. He imagined this card when friends decided to open their own cafes in the area."Initially, our clients have found this strange idea card advising them to go to our competitors," says Jeremy Challender, the manager of Coffee Prufrock at Figaro.fr. "But this concept amuses both consumers and the community café in the neighborhood."
In six months, the Prufrock Coffee has distributed some 6,000 cards "disloyalty". A success for Jeremy Challender, who intends to pursue the initiative. "Especially since I do not count the cards that are still in nature and will return once we met," laughs the cafe, which ensures that bars competitors play the game well and dab the card. "This is a healthy competition," he says."We're well aware that our customers will enjoy more cafes in other locations, which requires us to constantly innovate to improve the quality of our products."
Trade competition against the current
The Expert Group LaSer, a subsidiary of BNP Paribas and Galeries Lafayette that specializes in marketing and customer relations, identify in their monthly newsletter that the objective of this initiative is "to encourage customers to regularly attend teaches, but to give them the habit of going for a coffee, even in competing institutions. In sum, the common focus for everyone to "benefit from a greater overall abundance.
Within weeks, the idea of Gwilym Davies had already crossed the Atlantic. In Toronto, Canada, seven patrons of bars in April formed a sort of alliance called "Toronto Coffee Conspiracy.The principle of this partnership is somewhat different from how the map of "disloyalty" proposed by Coffee Prufrock. In fact, most customers choose this time the coffee, among the seven members of the "Toronto Coffee Conspiracy" in which they will return once their card filled. In Seattle, the United States, no fewer than 10 brands of cafes and bars, located in 13 different districts of the city have come together around a similar card program.
French cafes in lack of customers
This type of initiative has not yet made its way to France. French Café owners could do with finding parades down attendance which they suffer, especially since the smoking ban in public places. Many institutions have also put the key under the door in recent years.The second edition of the Observatory of independent trade wholesaler Metro Cash & Carry France, in partnership with BVA, it remains that 50,000 pubs in France in 2010, against 510,000 in 1914. This study shows that 82% of French people prefer these to traditional franchised cafes. However, only 2 out of 10 people go there regularly.
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Iter barely get under way. The international program which provides for the construction of a thermonuclear fusion reactor could be delayed again. The European Commission should in fact announce Wednesday that it does not sign the document which puts the project on track, says Les Echos published Wednesday.
The European Union has failed to obtain the financial commitment of the twenty-seven member states until 2040 to ensure the viability of the project. The European contribution for 2007-2020 has almost tripled from 2.7 billion euros expected in 2001 to 7.2 billion euros this year. For 2012-2013, a European envelope further 1.4 billion euros is needed.
Diplomatic issues
However, this explosion of the budget falls very ill, while the finances of European countries are seriously affected by the economic crisis and the recent austerity plans.One familiar with the matter told the Echo that the project has become important diplomatic: "Because of security issues in terms of global energy supply, the fight against climate change and investment, its status is more only scientifically. It is now a political project where the game of diplomacy is as important as the result of research equations.
The ITER project aims to provide a solution to the global energy crisis by reproducing the energy production inside the sun. The fusion of hydrogen nuclei would provide an inexhaustible energy, cheap and clean (it produces little radioactive waste, unlike the mechanism of nuclear fission).The reactor built on the site of Cadarache Provencal begin operation in 2018 but will be fully operational in 2026.
Seven partners (the European Union, China, India, Japan, South Korea, Russia and the United States), representing over half the world population, are involved in the project that meets the opposition Greens. Time is running out for Brussels. Tired of difficulties, the United States plans to reduce 40% of their financial contribution to the project and other countries could follow suit. The Commission hopes to resolve the problems of the project's contribution today and in the other two European meetings on 21 and set June 25
The euro has pushed the bar of $ 1.21 Friday shortly before 13:30, then the 1.2 dollar after the closure of European markets. 21heures rating it to 1.1976, the European currency had not been at these levels since late March 2006, more than four years. A floor that makes investors fears Wall Street unscrews, w ith a Dow Jones loose around 3%.
Investors are fleeing risky currency – which the euro is due to debt problems of several countries in Europe – in favor of safer currencies such as dollars and Swiss francs, while U.S. employment figures , Still selecting highly expected to referee emerged sharply higher, but less good, however, that those expected by analysts.
Including the 431,000 jobs created in May in the United States, on the first four months of the year, the U.S. economy created 200,000 jobs.But in the vast majority of them, these new posts are made through the timely hiring of staff for the census. Excluding this one-time occurrence, the economy created only 20,000 jobs.
These figures "are a blow to the enthusiasm on the global economic recovery," said Joshua Raymond, an analyst at City Index.This means that companies "are not hiring more sparingly and do not yet have enough confidence in the future to engage in massive recruitment," says Aurel BCG.
Fillon drives the point
Just for fun, Francois Fillon has ruled that the continuing fall of the single currency was a "good news", able to boost exports from the eurozone.
The term "parity" – meaning a dollar / euro – used during the press conference as prime minister by Friday precipitated a collapse of the euro against the dollar, forcing Matignon rectify the rooms to calm market.
"When politicians they understand that reviews loans for their candor and local audiences have destabilizing effects on financial markets?" Was upset Michael Hewson, an analyst at CMC Markets.
The comments "do not make any gift to the euro, according to the analyst. "They certainly do not help not to stabilize the single currency (and otherwise) to undermine the credibility of the finest political will to support the euro," he said.
Europe degraded by HSBC
Side debt in Europe, the series continues. On Friday, HSBC has downgraded its recommendation on Europe, excluding the United Kingdom, "neutral" to "underweighted" because "there are still too many uncertainties about the health of banks on the future of the euro on sovereign debt, and growth to take risks in this area now.
Hungary worried
After Greece, Spain and Portugal, the contagion of the disease spreading further public finances in the euro area, Hungary.
The government spokesman who said that about a politician reminiscent of the small countries a chance to avoid a crisis similar to that of Greece were not exaggerated.
Following comments from the spokesman for the government, the forint fell to a lower than a year against the euro traded at 285.75 forint per euro, before slightly rising up around 288 forints .
Hungary is on a drip of 20 billion euros made available by the International Monetary Fund (IMF), the European Union (EU) and European Central Bank (ECB) since the fall of 2008.
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New session of decline in perspective the Paris Stock Exchange on Wednesday. If investors follow the Parisian trend driven by Asia this morning, there is little chance to see the CAC 40 bounced in the opening. On Tuesday, the key index in Paris had a meeting very heckled, opening in early fall and then increasing its losses during the session. The reopening of Wall Street after a holiday and good U.S. macroeconomic indicators have helped limit the damage: ACC ended the session on a drop of 0.13%.
But concerns over the resumption of economic growth have resurfaced after the announcement of bad statistics on inflation and real estate in China. A price increase in this sector is feared the creation of a bubble whose consequences could be worse than those of U.S. subprime, according to some economists.
Incidentally, the euro fell to its lowest level in four yesterday during the meeting. On Wednesday, investors will keep an eye on the promises of home sales in April and May auto sales in the United States.
The bank will try to resume
As for values, banking and insurance will be expected once the turn. Very disciplined yesterday, BNP Paribas, Credit Agricole, Societe Generale and Axa will attempt the ascent. In particular they should react to the press conference European Commission President Jose Manuel Barroso, Commissioner for Financial Services, Michel Barnier and economic affairs commissioner, Olli Rehn, the Financial Services No fax pay day loan.The commissioners will present a Green Paper on economic reform of the EU favors a reorganization of the governance of financial institution.
Areva and Siemens would be in the sights of the European Commission according to the Figaro. An expedited procedure against the French and German can be launched for infringement of competition law. This decision falls within the framework of the divorce between the two groups.
This opens in Paris on Wednesday that the trial of Jean-Marie Messier, nearly eight years after his ouster from the chairmanship of Vivendi Universal (VU). The former boss will have to account for its management of media and communications group.
Bouygues has raised its revenue for 2010. Tuesday, the group released an operating profit of 162 million euros in first quarter 2010 and a net profit group share of 181 million euros.The group also indicated that the proposed tram-train the meeting had been finally buried.
EDF said Tuesday that its proposed acquisition of shares from several shareholders of the second Belgian electrician SPE-Luminus, which will own 63.5% of the capital after the transaction was negotiated on the basis of a price 215 million
L'Oreal said it has acquired a new provider of hair salons in the United States for an unspecified amount.
PSA Peugeot Citroen holds its general meeting this Wednesday. Philippe Varin, chief of the manufacturer has to convince shareholders of its development strategy in Asia.
The dispute between Apple and Adobe on the Flash format invites himself to the highest level. In a lengthy open letter published Thursday, Apple CEO Steve Jobs has explained the reasons which led it to ban videos and animations in Flash on iPhone, iPod touch and the iPad. Although Adobe representatives have repeatedly expressed their incomprehension and criticism bristling barriers around Apple products, Steve Jobs said that the decision was made solely on technical criteria and not commercial.
The co-founder of Apple and provides no fewer than six reasons for this refusal. Widely used on the Internet, Flash is a plugin "100% proprietary" Apple can not improve. However, it would be slow and insecure. It would reduce the autonomy of mobile devices and would not touch some of the gestures.It would not, either, if necessary to take advantage of the Internet, since the videos from YouTube and other sites have already been converted into a format readable by devices from Apple, H.264. Finally, the creation of applications and Flash games, designed to run on multiple platforms, not exploit the best features of the iPhone.
"Flash has been created during the era of PC to PC and mouse," says Steve Jobs, therefore, recommends that Adobe to focus more on the future "instead of criticizing Apple for having drawn a line under the past" . The future, he says, is to open formats on the Internet, including the HTML5. To the chagrin of Adobe, these new tools can include videos on websites without having to install Flash on their computer or mobile payday loans.Already, U.S. media have changed their site to include video in HTML 5, still remember Steve Jobs.
Crisis communication
Nevertheless, the lack of Flash in web browsing is still among the most frequent errors associated with the iPhone and iPad. It also applies to Apple's repeated criticism on the Internet. During April, an employee of Adobe has publicly recommended Apple to "get lost". Its competitors also benefit. Earlier this week, the head of the development of Android, Andy Rubin, has compared the restrictions of Apple's policy of North Korea and announced that future phones will integrate Google Flash. In Silicon Valley, rumors suggest that the case could be brought to justice.
The open letter published Thursday shows that these incidents are taken very seriously at Apple.Steve Jobs had already used the same method to break Apple's other crisis situations. He responded to Greenpeace, which accused the Mac to be too environmentally unfriendly, had determined the end of the locks on music (DRM) and announced his illness and withdrawal. In this battle as technical as media, Steve Jobs, however, avoided relying on an unlikely ally, Microsoft, whose new mobile operating system, Windows 7 Phone will not be compatible with Flash.
China takes the issue of energy efficiency head on. The central government announced Wednesday the creation of a National Commission of Energy. Its mission: "to strengthen the strategic and policy coordination in the energy field.
This Commission will be chaired by Premier Wen Jiabao and co-chaired by Vice-Premier Li Kegiang. Among the 21 members it will have included several ministers.She will be responsible for developing "a national strategy on energy, key issues relating to security and energy development" for the overall coordination in domestic and international cooperation in this field, explains the central government, in his statement.
A voracious appetite for energy
During a visit to the headquarters of the National Commission of Electricity Regulation in Beijing, January 14, the vice-premier Li Kegiang stressed the need to intensify efforts to ensure security of supply China's energy. The country has experienced sharp drops in temperatures and heavy snowfall this winter, which boosted energy demand and tight supply, said Li Kegiang.
After the winter, the supply remains a critical issue for China.Driven by economic and population growth over the past thirty years, Chinese energy consumption has exploded. China has become the second largest energy consumer in the world behind the United States pay day loans .
The critical issue of supply
Its energy dependence is increasing accordingly. Thus, the country has been dependent to 52% of its crude oil imports in 2009, against 47% in 2006, says AFP. According to Wang Xudong, president of the National Commission of Electricity Regulation, Chinese consumption of electricity could rise by 7% this year if the country maintains its economic growth rate of 8%. Consumption had increased by 6.44% in 2009 compared to 2008, according to figures from the Chinese Ministry of Commerce.Coal, however, still represents 70% of the energy consumption of China.
Focus on efficiency of energy policy
For Beijing, centralization is the answer to this challenge of supply. "Energy policy is now conducted by various ministries and local authorities," said Xu Bei, economist at Natixis. "The creation of this new body will respond to an emergency security of energy supply." The main domestic priority.
Ultimately, the Commission could also help Beijing to seal agreements on international cooperation, said He Jun, of Anbound Consulting. Provided that his role is really detached from that of many other government agencies that account China.
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"Venezuela: a devaluation at high risk
The devaluation of the Venezuelan currency, announced January 8, will have an impact of around 40 million euros on profit before tax and non recurring items of the group in 2009 and approximately 15 million euros on profit current net after-tax, said Accor in a statement. Despite this impact, the Group maintains its objective of profit before tax and non recurring items of between 400 and 450 million euros for 2009. Accor is present mainly in Venezuela through its prepaid service activities (luncheon vouchers, preloaded maps, gift certificates).
Venezuela on Friday announced the devaluation of the bolivar. The currency, whose exchange rate was 2.15 to one U.S. dollar, now trades at 4.30 to the dollar.
Last October, the fourth global hotel group confirmed its financial targets in 2009 but expressed cautious for the year 2010.
Accor will publish its turnover in 2009 January 19 next.
The Accor share price closed Monday down 0.63% to 37.59 euros while the CAC 40 lost 0.05% to 4043.09 points.
"An adviser employment center follows on average 90 to 95 files" recalled Laurent Wauquiez Friday. Enough to justify the listing of the use of additional reinforcements. Secretary of State for Employment was shown Friday in favor of hiring 1,000 people in one-year contract. He "hopes to be operational in February, to help the 47,000 employees that already work center.
"These forces will be assigned to keep the front of compensation to avoid a bug as in 1993" and "coming as reinforcements in the regions most vulnerable," said Laurent Wauquiez front of the Journalists Association of Social Information, stressing that "these reinforcements are designed to help us get through the crisis." Asked about the financing of its additional measures, the Secretary of State has estimated the budget sufficient employment center to fill them.
Merging ANPE-UNEDIC occurred against all odds in economic crisis has created a very tense social climate in the new public. To cope with the influx of job seekers – 80,700 salaried jobs have been destroyed in the third quarter of 2009 according to latest figures from INSEE – CDI hires in 1840 and 1000 or hiring in fixed-assisted contracts have already been made since early 2009.