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The French pharmaceutical company Sanofi-Aventis and the U.S. Merck in a statement announcing the creation of a joint venture in animal health. Owned equally between the two groups, it is destined to become the world's number one industry with a combined turnover of approximately $ 5.3 billion, or 29% of the market.

Since July 29, 2009 and redeemed for $ 4 billion of Merck's participation in their previous joint venture Merial, Sanofi-Aventis had an option to meet with Merial, Intervet Schering-Plow Animal Health Division in the born merger between Merck and Schering Plow.

The deal values Merial to 8 billion dollars and Intervet Schering-Plow 8.5 billion.It already cost at Sanofi-Aventis 250 million dollars to establish an equal joint venture with Merck, and 750 million under the agreement of July 2009 the statement said.

The formation of this joint venture is subject to completion of definitive agreements, review by competition authorities in the United States, Europe and other countries . The completion of the transaction is expected during the next 12 months. Pending completion of the transaction, Merial and Intervet Schering-Plow continue to work independently.

The market for animal health has reached 19 billion dollars in 2008. Products for pets represent 40% of the market and 60% for animal production.The growth of this market should be about 5% per year during the next 5 years, supported by a growing demand for animal protein, and by the substantial need for care for pets.

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The news was confirmed by a spokesman for Total, following a central works council. The Dunkirk refinery has finally closed its doors Monday. As the oil group had promised the 370 employees keep their jobs by creating a depot, a training center, a technical center and reclassifications.

The logistics depot would employ 15 people, training centers and technical assistance in refining approximately 225. Employees will be offered 80 positions in other refineries, 30 positions in other structures of Total in France and 20 employees will be granted "for early career.

The proposed closure of the Dunkirk refinery is the source of the national strike in late February that poses the threat of a shortage of fuel.The refinery has 370 direct employees and 400 to 450 employees subcontractors.

Total promised to each employee in the establishment of Flanders' work at Total matching skills. Another promise: "no closure or sale" of French refineries will happen within five years.

Substitution project

Before the start of the meeting, Total has confirmed its participation in the construction of an LNG terminal by EDF in the port of Dunkirk. The agreement provides for "an equity Total capital 'of society, Dunkerque LNG, a subsidiary of EDF responsible for the construction of this terminal will terminal.Ce regasification capacity of between 10 and 13 billion cubic meters per year. The decision regarding its actual construction will be taken before the summer and could be put into service in 2014.It remains "conditioned on obtaining all regulatory approvals and the completion of commercial procedures and tenders for construction."

This project would mobilize up to 1,200 people during construction "and could generate" at least fifty direct jobs, which should add about 150 jobs indirectly "in the operating phase out the two groups. The Industry Minister Christian Estrosi had rightly warned that the Dunkirk refinery would reopen if there was "no real alternative project" to maintaining employment.

But this news should not necessarily good news for employees. The CGT and Sud believe that this project is too distant and "inadequate" to compensate for job losses.For 12 hours, the employees of Dunkirk appear before a seat of Total Defense.

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Medica may blow. While markets remain subdued, the specialist retirement home announced Tuesday in a statement that its IPO has been "a success". French institutional investors and international were to rendezvous with a subscription offer for about three times its original size. The offer to individuals attracted 7500 orders. Among these, the group's employees have answered the call. Nearly 3,000 of them participated in the operation.

The group welcomes this performance, "in market conditions very difficult." It must be said that Medica had significantly lowered the price of its shares, offering 13 euros instead of 16 or 19.50 euros expected in a first instant payday loans .

The gross proceeds from the offering price and the open global placement represents approximately 255 million euros."In the event that the option of over-allotment is exercised in full, and would offer an amount of about 293 million euros, a figure of 22,530 shares representing approximately 47% of capital and human Group voting Medica, "the statement said.

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The device of "breaking conventional" – that allows an employer and his employee to terminate a permanent contract by mutual agreement, limiting litigation and providing access to unemployment benefits – has confirmed its success in 2009. For the full year, the first full implementation since its entry into force in August 2008, 191 309 amicable separations were approved by the Department of Labor. This represents nearly 8% of ILC failures recorded in 2009. "This system has put an end to hypocrisy that was to dress up as desired redundancies departures by both parties for the sole purpose of enabling the employee to receive unemployment insurance, welcomes it does in the entourage Xavier Darcos, Minister of Labor. He is entered in the customs and found its stride. "Either 20 000 applications, more or less approved by months.

"If we better secure the release of the company to an employee by guaranteeing a minimum benefit equal to redundancy pay, that's something," says Marcel Grignard, number 2 of the CFDT, the one of four unions to have invented the employers with the device in January 2008.

The refusal rate (records released by the administration in particular for non-compliance with statutory time limits) reached 13% in 2009 and that of inadmissibility (for incomplete), 3%. Two proportions in sharp decline over the year, indicating a greater ownership of the device by the Department of Human Resources. Some companies however are still aligned for their applications because of "social disguise" – a true social costs more than adding individual separations. It's mishap occurred in December to IBM online payday advance .The direction of the work of the Hauts-de-Seine has refused registration of 12 cases in the month. According to Jean-Michel Daire, CFDT delegate the administration would still accept applications in February reformulated by the group.

"It does not attend mass flow diversion" into perspective does one Department of Labor, which has yet sent in March 2009 a serious warning to its officials. They were advised to be "vigilant breaks conventional concluded in order to circumvent the safeguards of redundancies and collective."

Strong rise in entries to employment center

Virginie Devos, a lawyer in employment law in August & Debouzy, confirms: "Some enterprises are abusing the conventional break knowing they are likely to overturn." But others are more reluctant to use them."Some employers do not want to sign a treaty breaks because they fear a ripple effect among their employees more and more people want to benefit and reluctant to resign," says she.

Latest Trend: More and more employees enroll in employment center after signing a separation amicably. They have been 128 696 in 2009 to cross the gates of the former ANPE, or 67% of recipients of rupture. A steadily rising level which was close to 80% in December. This implies that, despite the crisis, employees are increasingly likely to take the gamble to leave the company immediately without having another job.

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Abrupt return to earth to investors who started the session on Wall Street in the red. The unemployment figures in December were worse than expected. The U.S. has destroyed 85,000 jobs in December as the monthly report of the U.S. Department of Labor. The euphoria was not to go because the unemployment rate remains at 10%. Half an hour before the release of U.S. unemployment figures in December, all future pointing upward. Markets expect that job losses have continued into December. Some also not ruled the possibility of new posts.

Now, the Dow Jones fell by 0.4% to 10,563 points, the S & P lost 0.40% to 1137 points while the Nasdaq lost nearly 6% to 2295 points. The day before, the Exchange had ended in the balance.

Values follow

As for values, General Mills lost 1.02% to 70.57 dollars.The group is expected to announce some numerical predictions.

Barclays (1.18% to U.S. $ 20.63) receives a statement of recommendation from UBS from "neutral" from "buy."

Delta Airlines (-0.55% to $ 12.61 million). Information published by the Wall Street Journal announced that the U.S. airline American Airlines, together with the company TPG Capital, now propose to invest 300 million dollars more in Japan Airlines, for a total of 1.4 billion dollars.

Carried by the first signs of recovery, commodity prices should continue to benefit from a demand effect, according to most analysts. And inevitably, when the recovery point the tip of his nose, the main concern of investors is inflation. Central banks, especially American, will they let it slip that the growth settles? Exactly, materials excellent in coverage against the general rise in prices. Among them gold.

It's the return of the "barbarous relic", to quote the famous phrase of John Maynard Keynes, the famous English economist. In one year, gold has gained 40%, up two times higher than the CAC 40. An increase which reached a peak last December 3, with a historic high: 1.227 dollars per ounce.The successive reductions in interest rates have reduced the cost of money at a level so close to zero as the low profitability of gold goes completely unnoticed. More than a genuine interest – unlike shares or bonds, gold in nothing (hence the term "barbarous relic" – the precious metal benefits mainly three phenomena.

Capitalizing on weak dollar

The first is the weak dollar, including emerging countries, mainly turn away. Asians, including Chinese, even openly criticize the supremacy of the dollar green. Which, incidentally, is a dangerous game for the Middle Kingdom, with about 80% of its foreign exchange reserves are denominated in dollars …. But alongside this, China, like India, strengthening its gold reserves in order to diversify its foreign reserves.Although they constitute just 1.6% of its total reserves of foreign exchange, bullion held in vaults of the central bank, however, correspond to the significant volume of 1054 tons, against 600 in 2003. What sets the Middle Kingdom to the sixth place amongst central banks richest gold, this beautiful place in Switzerland. The increase of 76% of China's foreign exchange reserves in gold vividly confirms the interest that Beijing is to the metal, she, who advocated the abandonment of the gold standard. Importantly, this increase clearly confirms the willingness of China to emerge more than ever a new international currency to replace the dollar ….

Hedging against inflation

Another aspect directly linked to the dollar's decline: the fear of a return of inflation."Now, what are the conditions for ending the recession concern; central banks should be tempted to let slip inflation initially, that the recovery takes hold," says Frederic Lasserre, head of research commodities at Soci?t? G?n?rale. Although there is no question, especially towards the European Central Bank left spinning inflation, the Fed, for its concern for some developed countries deflationary risk. It may well in the second quarter of 2010 up its rates.

Value shelter or bubble?

Finally, to protect against loss of value of their assets, investors seek refuge physically in oil and base metals, but primarily in gold.In a context where some European countries are in trouble (damage to the notes in Greece, under surveillance from that of Spain …), gold saw its role as a refuge against the sovereign risk increased. "In the absence of sustained recovery, the sovereign risk could easily extend to other countries (Greece, Portugal, Italy)," said Francois Chevallier, strategist bank Leonardo. "The famous precious metal is seen as a safe asset, since it can serve as a currency of last resort. The rise of gold is made to last, "says Nicolas Rajna, spokesman of ETF Securities.

His recent relapse of 1110 dollars per ounce should nevertheless encourage investors to remain vigilant. Assets designated as refuge values, like gold, could well turn into a speculative bubble ready to explode at any moment."The rise in gold is a mystery because apparently solitary, said Francois Chevallier. Gold, regarded as a raw material is recovered much faster than oil. He has also climbed more than euro (safe haven against the dollar) and that long rates (safe haven against the indefatigable), and that while risk aversion continued to decline. " The virtues of gold have been recently confirmed by the decision of large countries in the world to mobilize some of the gold reserves of the International Monetary Fund to finance its activities in support of emerging economies. The global financial crisis has led to the resurrection of the barbarous relic. It is certainly less sure she keeps that relationship once the crisis is resolved.

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The outlines of the reform of business tax does not end up being redesigned. While the bill contains funds that the text is finally adopted this afternoon, the government has introduced yet another amendment.

Responding to a request by senators, Eric Woerth has indeed held to reintroduce an element of equalization in the distribution to local communities of the future contribution of value-added businesses (CVAE), which replaces, with the contribution of property, business tax . Specifically, one quarter of the proceeds received from this CVAE be taken in favor of an equalization fund, then transferred to regions and departments in accordance with economic and social.A measure designed to correct inequalities that may be caused by the territoriality of the contribution.

All these changes will not affect business leaders, set for some time about the nature of the contribution they must pay. The business tax, which will disappear in 2010, is in effect replaced by a double contribution: the contribution of corporate property, sitting on the rental value of land occupied buildings, and the famous contribution of value-added businesses, paid from 500.000 euros turnover.

While MPs this week to discuss the transformation of the company public limited company (now scheduled for 1 March), The Post takes this Thursday its board of directors last year. The estimated results for 2009 and the 2010 budget will be presented. One and one witness to the difficulties experienced by the Post Office. Reportedly, the net income group share estimate was 387 million euros this year, against 529 million in 2008. Operating income is below the targets: he would go below 500 million euros after a profit of 886 million euros in 2008. As for turnover, it is down 2% in one year. In 2008 it was 20.8 billion euros.

All the lights are red while the core business – mail – is severely mistreated. This year, volumes were down 6%. From never-seen.The spread of Internet exchanges is for many. The crisis has exacerbated the problem, mail is closely linked to changes in the gross domestic product (GDP).

"Divided by Three"

Next year does not reserve any good for the mail whose erosion is structural. Jean-Paul Bailly, President of La Poste, acknowledges. In June the group announced it expected a drop in volumes of 30% between 2008 and 2015, an assumption made by most major posts.

In his speech opening the general discussion at the National Assembly, Tuesday, Christian Estrosi, Minister of Industry, was even more pessimistic: "The volume of mail from Post diminish every day," said Minister.There is already – 10%, we will be – or even 50% – 60% in just three years! Again, this is not easy for a postal operator whose business is the heart of e-paper, to cope with the sharp rise of the Internet! "The consequences can be read in the accounts:" The benefits could be divided by three in just two years! "

However, the decline of mail could be offset next year by the growth of other business group, the bank and the package. The 2010 budget, presented on Thursday, would in any case this hypothesis. It builds on strength of sales in a very small increase.

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After several weeks of reflection, the verdict has finally fallen on the new method of fixing gas prices. The Ministry of Economy, which was to maneuver, just send the document to refer to the Regulatory Commission of Energy (CRE), for entry under the next year, after the publication of a decree .

The government, which ruled until then every three months on possible changes in gas prices, trying to remove a little of the game, at least in appearance. It will no longer once per year, one component of overall framing of the price curve of the molecule. This scheme seeks to prevent the State to meet in full psychodrama whenever Bercy opts for a rise in gas prices.

So now the company, GDF Suez, which will seize the regulator for a rate increase.Which regulator, after watching whether the incumbent's request is consistent with the pricing formula, make a binding opinion. Until now, the opinion of the CRE in the record setting gas prices was only advisory. In the new scheme, the Commission will therefore pose a greater weight.

However, uncertainties remain. In particular, what happens if gas prices are indexed on oil prices should fall? In the reference document, it is not called GDF Suez to decide in what direction. Similarly, it does not ask the regulator to pressure the company to obtain a reduction in charges.

"Let's just common sense: since oil prices are public, they bend permanently, GDF Suez will be forced to seek lower fares.Or the group will draw the wrath of both consumers and government, "says an industry expert.

Psychodrama

So much for the new scheme, at least in theory, developed by the government with the approval of other partners, beginning with GDF Suez. It remains now to see how it will apply in practice. It is hard, in fact, the government remain inactive in the face several repeated hikes in gas prices. Especially during elections, where the energy bill is regularly found in the heart of debates.

In short, despite government efforts, it is feared that this new device does not put an end to psychodramas on gas prices.

"The management of Eid is a real headache," says the manager of a transportation network. "Half of my bus drivers are Muslim. When they ask everyone to leave that day, how do you ensure 100% service? "

To anticipate these pressures, some companies now distribute a calendar of all religious festivals with their team leaders. While others repeatedly objected to "absences for religious reasons." "Each company designed a place for Allah. If employees are many Muslims, they dictate the standard. Otherwise, it's very random, "says anthropologist Dounia Bouzar, which today publishes the results of an extensive investigation into the working world. (Allah has a place in the company? Albin Michel).A textbook which we regret the anonymity of managers who tell on a daily basis, rising claims.

One third of French companies have expressed their concern, primarily in Ile-de-France, but also in the north-east and south-eastern France, in the areas of trade, services and construction, according to the results of Ifop poll of April 2008. "Can you dismiss an employee who gets to wear the headscarf?" Questioning often responsible when using Dounia Bouzar to conduct an audit. Or "the great festivals of Islam have to be considered holidays?". To guide companies, the High Authority against Discrimination and for Equality (Halde) had issued a notice last March. In essence: the religious claims can be denied only where they penalize the service.Rules of procedure shall be invalidated by the courts if the headscarf banned without real reason. Since the association IMS-Business for the city, who gathered around Claude Bebear very large companies, held, also, to illuminate the subject with a guide. For applications beyond the working class now. "In banking, where the number of frames is important, there is a rise of religious claims. And in the automotive and construction, the question wins the administrative headquarters, "says Benjamin Blavier, IMS. This new visibility fueling fears of an escalation. "Soon, everyone will arrive with skullcaps, crosses and display Christ around the office," predicts an HRD to Dounia Bouzar."If I tolerate any application, it will grow," worries he.

The scarf is very badly perceived

If the anxiety is widely shared, the rules applied in the field vary widely. Paradoxically, Ramadan, though very visible, "is rather well accepted in the business" where he is something of cultural tradition, and say Lylia Dounia Bouzar. In the construction sector, "the HRD are particularly concerned about the risk of accidents because employees who do not eat are weakest. They usually adjust schedules when their employees are many practitioners, "say the authors. In retail, "long breaks" are provided to break the fast and not at noon. "The restaurant business is open later and offers halal soup, milk and fruit, a kind of vital smic what 'reflects an official.However, some executives of North African origin regret communautarisation facies: "I am an atheist. Yet, I always offer to leave earlier, "protested Faycal. "It's like you said, today we commemorate the ascent of Jesus to heaven so we all end up to 15 hours."

If Ramadan is tolerated, prayer in the firm bristles, however most employees and managers. Symbolically, pray at work seems like an act of "proselytizing." "The prayer is at home," repeated most of the respondents. "There is no question he asks while others bossent, a senior judge. While elsewhere, ignites an employee: "Why do we let pray while I was refused a development schedule to pick up my child in the manger."

In large companies, prayer rooms have been created yet.Especially in the automotive industry. A French manufacturer has even built changing rooms. Conversely, a large Japanese brand "to the employee to sign an undertaking not to practice his religion on his place of work" in defiance of law, "said Dounia Bouzar.

As for the headscarf, it is still very poorly understood. Except for junior positions, companies would like the outlaw. But the case back "to the criteria of common law," says the anthropologist. "The mere contact with the customer does not prohibit the headscarf." We must demonstrate that it contradicts the rules of safety, it can hurt the convictions of the entourage that night or the performance or commercial interest.The general management rules, which apply to religious demands.

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