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The OECD approves the plans rigor French, German and British

What do you think of austerity plans adopted in France, Great Britain and Germany? Are they sufficient?

Targets chosen are appropriate. When started in 2011, for the most part, they reflect the forecast growth will remain weak in coming months. The credibility of the measures announced will have a positive impact on the economy over the medium term. It will also look favorably on the interest rate will be long term downward trend and therefore promote growth.

These plans are they in line with OECD recommendations?

Overall, yes. In all three countries, governments have chosen to cut public spending to reduce deficits, which is a good thing.The experience of OECD countries shows that fiscal consolidation based on expenditure reduction is generally more efficient and more sustainable than those based on a tax increase. Yes, we need to use the weapon of taxation, but if it has a limited impact on growth. In this case, we must emphasize the taxes related to climate change – CO2 tax – or indirect taxes on consumption – VAT – the property rather than income households or businesses.

In Britain, the specific measures such as increases in VAT or tax on capital gains in the right direction.

In France, the pension reform is essential, we must reverse the age of retirement at least 62 years because many European countries are already beyond this level.It is also important to address the budgetary rules to strengthen the credibility, setting goals of stabilization. As has just done in Germany out in the Constitution a ceiling for public debt by 2016 paydayloan.

The OECD has launched Wednesday a new warning on unemployment will remain high and the risk of falling into structural unemployment. What do you think, in this context, cuts aid to employment, in particular France and Germany?

Our position is that we must change the orientation of employment policies, by investing more in the long term. Countries should abandon the measures adopted early in the crisis to keep costs the employees in their jobs, promoting the reduction of working hours to avoid layoffs.Policies should be more targeted for career change into areas more vibrant and productive. This requires investment in training, education, innovation.

Yet France removes 16,000 teaching posts …

It may be more effective in education. But it is clear that there is not enough money to do everything! Times are difficult and involve choices. Must be cut, reduce deficits and debt while stimulating growth, promoting employment and education. This must remain a priority.

Is there a risk of falling into recession?

We maintain our forecast last month. The recovery will continue at different speeds, slower in Europe than elsewhere, but we see no risk of double dip recession.The real issue in the medium term is to find a good balance between sustainability of public finances and economic growth.

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Apple has already sold 3 million iPad

The success is well meet up for the latest Apple products, the iPad. The company announced the Apple had sold more than 3 million copies of his tablet. And less than three months after its launch. In good shape Thursday, June 24 launch of the iPhone 4.

Apple has delayed for one month out of its touch pad internationally because of the huge demand in the United States, which had exceeded its expectations. Next month the tablet, which combines the functionality of a mini-computer, a player and a media player must land in nine additional countries (Austria, Belgium, Hong Kong, Ireland, Luxembourg, Mexico, Netherlands, New Zealand and Singapore).

News that support the Apple stock offering. Quoted on the Nasdaq, Apple still wins the title more than 1.63% to 274.70 dollars, close to its highest of 275.97 dollars.But analysts are beyond its record close reached in last Friday, but well below its potential, if one believes the latest estimates of analysts. For the more optimistic, and like the popular analysts at Deutsche Bank, the price of Apple stock could still earn $ 100, $ 375.

44 million iPhones sold in 2010 4

Last week, Apple and the U.S. operator AT & T, which has exclusivity on the iPhone in the U.S. have had to suspend the process of pre-orders, their system is clogged by the enormous demand, and Apple CEO Steve Jobs had to apologize.

The new multifunctional phone, especially with a high definition screen, a feature allowing telephone conversations and video editing software video, has landed Thursday in U.S. stores.Some analysts believe the iPhone will sell 4 million copies to 44 this year, 55 million units next year.

The Dow Jones closed at 11,000 points beyond

Wall Street started the week in near balance, then moved into the green early interactions. An increase, however fragile, while the budget deficit emerged in sharp decline in March, to 65.4 billion. A decrease of 65% yoy. Analysts were expecting a lower deficit.

At the close, the Dow Jones climbed 0.09%, the Nasdaq is 0.16% and the S & P 500 of 0.18%.

This slight increase still leaves the Dow Jones crossed the symbolic threshold of 11,000 points. The index reached 22 hours, 11,006 points. A first since September 2008. And the S & P reach almost 1200 points to 1197 points exactly.

The U.S. stock markets have recently experienced six consecutive weeks of increases, an unprecedented series from the lowest 12 years and a half touchdowns in March 2009.On the foreign exchange market, the euro is rising against the dollar after the announcement yesterday by the countries of the eurozone plan the details of aid to Greece.

Oil prices fell for the fourth consecutive session, still affected by an abundant supply and low demand in the United States.On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for May delivery finished at 84.34 dollars, down 58 cents from the previous day.

Indicators to follow this week

On the macroeconomic front, the week will be marked by several important indicators such as the index of consumer prices, retail sales for the month of March, industrial production, housing starts and the first estimate of the index Reuters confidence-Michigan.

The markets will also follow the hearing of Ben Bernanke, chairman of the Federal Reserve, the Congressional Joint Economic Committee on Wednesday and will monitor closely developments in the case of the Greek debt.

Alcoa opens the ball Publications

Palm jumped 17.05%.The group was mandated to advise the banks to sell its business or other opportunities, according to news agencies.

On the side of values, the oil industry runs the meeting. Friday Chevron (1.22%, to 80.43 dollars), without giving a figure, has announced an increase its refining margins in the first quarter. The group takes advantage of the rising oil prices and a possible improvement in its refining margins.The major U.S. must publish its accounts on April 30.

According to the press, the merger between United Airlines and U.S. Airways (2.73%, to 7.52 dollars) should be performed exclusively by exchange of shares.

The Department of Treasury of the United States announced plans to sell at auction in six weeks, before the end of May, the warrants of Wells Fargo shares were granted during the salvage of the bank in the fall 2008.

Microsoft has unveiled a new phone especially for the youth market of social networking fans, called KIN, developed with Verizon Wireless and Vodafone and manufacturer Sharp.

ConocoPhillips has announced the sale of its Chinese Sinopec stake in Canadian oil sands project Syncrude for $ 4.65 billion dollars.

Just after the close, investors have taken note of the first quarterly results of major public companies. As usual, the aluminum giant Alcoa, which gave the start of the season publications. Analysts expected a return to profit, its first since a year.

Meanwhile, Alcoa shares have been 1.39%, to 14.59 dollars.

The coming week will also be driven by quarterly results from Intel, Google, General Electric and JPMorgan Chase & Co. banks among others.

"Caution should be clear," says Aurel, who says that "the discourse of business remain positive on the merits but there are risks of disappointment on margins or unit on a possible downturn in order books in the coming months." The industry, raw materials, financials and semiconductors are the sectors most at risk.However, the agri-food sector, distribution or energy values could pleasantly surprise.

Of "Conti" are offered a position in Tunisia …

"What cynicism. Even Tunisians do not want these jobs, "growls the CGT delegate Xavier Mathieu, charismatic leader of the revolt of the" Conti "last spring. It is with astonishment that 600 of 1120 employees of the factory Continental Clairoix, dismissed for economic reasons in 2009, have indeed received Monday by letter a proposal for reclassification to Bizerte in Tunisia, paid 260 dinars per month, or 137 euro for work production operator.

"This is a provocation for the leadership against workers' protests Xavier Mathieu, who still disputes the validity of redundancies delivered last year. For its part, the management who had already offered 240 jobs to the "Conti" Clairoix, denies having voluntarily submitted to its employees offers reclassifications shocking."We have a legal obligation to offer any position available internally to employees dismissed for economic reasons," replies one of the leaders of the group communication. In May 2009, the manufacturer of socks Olympia had indeed been ordered to pay 2.5 million euros in compensation to former employees for not having their proposed reclassification in Romania.

"We are caught between the hammer and the anvil," argues he said. "The company is liable to prosecution in court or at the outcry" no credit check payday loans. In February last, the management of Philips had also provoked outrage by suggesting positions in Hungary, "with practice of the Hungarian language required," according to the communique.

"There is a general principle, and good faith"

But if the Labor Code does provide an obligation for the company to propose a reclassification of its workers, under penalty of being condemned for termination "without cause real and serious", the legislation also establishes a hierarchy of offers to propose Me says Lopes dos Santos Ravisy cabinet. The company has an obligation to seek first an equivalent position within it – not in one of these subsidiaries as is the case for employees Clairoix – and in France. It is a last resort, if no vacancy can be found under these conditions, the company can offer a post abroad. "In this area, there is a general principle, and the good faith belief that the judge is also able to take into account," said Mr. Lopes dos Santos.

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United States: sluggish growth confirmed

Economic conditions continued to improve in the United States in January-February, "although harsh snowstorms in early February have dampened activity in several regions," according to the Beige Book released Wednesday by the U.S. central bank (Fed).

The document states that the activity has increased in nine of the twelve regions (by cutting the Fed), but that "in most cases, these improvements were small.

The information provided by the Beige Book are very important because they serve as a reference to the meeting of the Monetary Policy Committee of the Fed scheduled for March 16, which will decide on changes in interest rates.

Regarding the labor market, for which the Fed chairman, Ben Bernanke, gave recently bleak outlook before Congress, the document notes that "the pace of layoffs has slowed in most regions, but that hiring plans of companies remain "soft in general."

As for expenditure on household consumption, traditional engine of growth of the country which is struggling to regain its role, they "grew slightly in many areas, but have been hampered in some by the snowfalls of early check cash advance