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The automobile market in France falling off again. After rising 2.8% in October, new car registrations fell by 7.6% in November to 179,160 units, according to figures of the Committee of French Automobile Manufacturers (CCFA) on Thursday. The many business operations that had previously provided support for the request do not seem to great effect.

French manufacturers are particularly lagging behind. Sales were down 11.5% in November against a decline of 2% for foreign manufacturers. PSA Peugeot Citroen has suffered a decline of 15.4% over the month due to a decline of 23.4% of sales against 4.9% for Peugeot Citroen. His rival Renault suffered a decrease in sales of 7.2%. The group manages to limit the damage with its Dacia brand, which recorded a 26.9% jump in sales in November against a decline of 13.8% for the Renault brand.He then said that the Franco-Japanese to be careful, particularly with regard to investments. PSA had for its part submitted a conservation plan in late October that passes not delete 6800 jobs worldwide, including over 4,000 in the Hexagon.

At the Paris Stock Exchange, the new integrated seem to investors. Renault won the title at 0.07% to 27.77 euros 9:40, in a market down 0.89%. The action Peugeot loses 0.90% to 13.71 side euros.

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There are some life insurance companies that offer a guarantee for the premiums only for certain number of years within the term.

The drachma, lira and other marks will they soon return to their distributors? Among the patrons, many do not want to believe, but the taboo has fallen in recent weeks, the crisis of sovereign debt has indeed reached the heart of the monetary union. "We're not there, and policies must absolutely do everything to avoid it, demonstrates a pattern of CAC 40. But never the uncertainties have been greater, and in the circles of European bosses, the topic is everywhere. "

Within groups – especially multinationals – the challenge now is to consider this assumption is not quite school, building plans for the "case". A subject on which, not surprisingly, more people start to speak outside the euro area and within it. Across the Channel, Constable British banks have their very formally requested to develop crisis plans ad hoc.In New York and London, in turn, several large financial platforms (CLS Bank, ICMA, Thomson Reuters or FXall) that run from bank to bank transactions, including foreign exchange, have informed their customers that they were preparing. For those operators who brew massive amounts of transactions, it is to ensure full and prompt treatment, even if the name change money.

The Paris market takes a few colors on Friday. In this holiday, where the activity should be reduced, the CAC 40 opened up 0.21% to 3070.33 points. Same trend in Frankfurt the DAX index rose 0.23% to 5881.49 points. In London, the FTSE-100 index key values ​​has opened down slightly from 0.07% to 5541.55 points.

Investor sentiment is supported by advanced this week in the eurozone. Management of public finances in Greece and Italy, two countries that focus on crisis fears of European debt, will change hands. In Greece, Lucas Papademos, former Vice President of the European Central Bank (ECB) has éténommé at the head of a government of national unity. In his first statement, he said that the euro is a "guarantee of monetary stability." The new Greek prime minister should take the oath at noon today.

The threat of a strike by cabin crew of Air France for the Thanksgiving holiday continues to weigh, despite progress in negotiations. One of the three unions, Unac, has indeed lifted its strike notice on Tuesday, after further management proposals. "Given the achievements and progress of these negotiations, delegates from the Unac consider that we should not miss this opportunity to meet our demands," said the union.

But two other unions, the SNPNC-FO and UNSA-Air, have maintained their parallel strike notice, which shall commence from 29 October for three to five days.

Negotiations break down including the number of crew members present on long flights, medium and short haul Air France would like to reduce.However, "this will place a serious case of the safety of passengers on flights of Air France," a judge of the unions representing flight attendants and stewards, the SNPNC-FO, in a statement.

Individualisation of pay

The unions also challenge the project management to change the evaluation system flight attendants. Air France would they be judged by their purser, rather than instructors, who are former cabin crew, as is the case.

But the unions, particularly the UNSA-Air, fear that this reform does not lead to an individualisation of pay in lieu of the automatic promotion today. They also fear that this new mission will turn the heads of cab "chefaillons.""After eight hours of negotiations, management has not provided a satisfactory response to our demands," summarized the SNPNC-FO cash advance today.

The social atmosphere is tense at Air France, then the group is setting up a savings plan which aims to restore its competitiveness. The priority of the airline is more than ever to fight against fierce competition from low cost airlines, said Jean-Cyril Spinetta, head Air France-KLM, in an interview to Le Monde dated Tuesday.

Restore competitiveness

To do this, Air France opened on October 2 its first regional base in Marseilles, to serve thirty destinations. Other bases are expected to follow in Toulouse, Nice and Bordeaux in 2012, after negotiations with the unions. The opening lines of low cost flights from Marseille had required a significant reorganization of work, to achieve lower costs by 15%.

If negotiations prove difficult, the group has little choice. Air France KLM has lost 40% of its market value in two and a half years, and suffered a loss of 197 million euros in the first quarter of fiscal 2011-2012. Just days after replacing unexpected Pierre-Henri Gourgeon Juniac by Alexander at the head of the group, Air France – KLM is also expected to issue a warning on its results for the period April to September, announced on Tuesday morning radio BFM Business. The company declined to comment on this information.

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Barely more than one agent in two has passed. Participation in professional elections in state civil service fell 51% against 70% in previous elections. This dip can be explained by the Ministry of Education (more than half of voters), where the number of voters has plummeted to 38.5%. Participation has also maintained or slightly increased.

Several unions of education have questioned the electronic voting used for the first time. Besides errors "classic" in sending the professions of faith or the constitution of electoral lists – that private voting some candidates! – Bugs, especially complex and lengthy procedures have discouraged or computer agents prevented some from voting.The FSU, crumbling a bit, but still by far in the lead for Education (40.6%, double the UNSA and three times the CFDT and FOR), the judge "malfunctions" so many they constitute a "denial of social democracy." According to the CGT, "for 10% of the workforce, the conditions were not met in order to vote." Tens of thousands of voters have not received the code allowing them to vote.

Demobilization

"The elections were conducted generally without real difficulty," scans the Minister of Public Service, citing the use of "modern" and "environmentally responsible". François Sauvadet "rejects the word" failed ". Participation is also the result of the decision of each agent to vote or not. " The officers had "one week to decide," says one colleague in Education, Luc Chatel.Favor of electronic voting and … up, the CFDT and Unsa also note that if teachers are not mobilized, principals or administrative officers of Education have been more involved, as postal workers, while they also voted on the Internet. The vote for the first time, contract – which the unions have not always paid great attention – may also explain the poor performance against.

Mechanical consequence of the demobilization of troops of Education, FSU – so far the first union of all the public service of this state, but almost exclusively among teachers – see the gap is closing with its competitors.It drops to 20.9% of the votes (19.1% including private school teachers under contract, for the first time integrated into the social dialogue bodies of the state).

The reformists up

His pursuers, rather than reformist protesters, progress: FOR 17.8% (16.2% with private school teachers), the UNSA with 16.7% (15.3%), with 12.6% CFDT (14.5%). Then come the CGT with 13.4% (12.8%), Partners with 6.5% (6.2%), CFE-CGC with 6.3% (5.8%) and the CFTC with 1, 6% (3.9%). FO heels and the FSU and even seems able to catch up. However, the CFTC could disappear from the list of allowed unions to negotiate and sign agreements for all the officials, failing sufficient score.

But these results should be taken with a grain of salt: more than 300 000 registered agents are still missing the call, about 2 million.Are integrated nor France Telecom nor the Department of Justice, who will vote Nov. 22. In the first case, it was always intended, in the second the vote was postponed at the last minute because they have been properly prepared.

They do not include either the results of the Ministries of Economy and Budget, who had not finished stripping, yesterday afternoon. What added a little more sense of improvisation and confusion. At some point – even among union leaders – questioned whether Bercy did not take pleasure in soap the plank at the Department of Civil Service, at the forefront of this election. In the week already, as the "flop" of participation seemed to indicate the climate was tense between 101 and 110 rue de Grenelle – seat of the Ministry of Public Service and that of the National Education.

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The award, last year's Nobel Peace jailed Chinese dissident Liu Xiaobo was an unexpected victim: salmon from Norway, host of the committee awarding the famous distinctions.

Furious at the sudden media exposure of Liu – they consider a "criminal" – Chinese authorities have in fact increased the veterinary strengthened against Norwegian salmon. The AFP ensures that the health tests are so extensive that these fish end up rotting in warehouses.

Result, exports of Norwegian salmon in China have fallen by half during the first eight months of 2011, Oslo hoped an increase of at least 30%. Three figures sum up the confusion of Scandinavian fishermen. December 2010, the date of the ceremony: 1000 tons sold. January 2011: 315 tonnes. February 2011, 75 tonnes.Norwegian exporters have tried to go through Hong Kong, but this shortcut stale quickly resulted in an impasse.

The operation antisaumon is very symbolic, since the other Chinese imports from Norway were up by 16% because of higher commodity prices. It is true that to meet their urgent needs of the Chinese energy resources are much less fussy.

The Paris Bourse tries to continue the registered slight rebound on Friday. The CAC 40, which opened sharply lower did an about face in the morning. Around 11:00 he advances from 1.86% to 2863.9 points, pulled up by the banking sector. On Monday, Asian stock markets were grinding still black, still concerned about the problems of economic downturn worldwide. "The main problem is that neither the U.S. nor Europe has many options to address their concerns," said Masayoshi Yano, a broker at Meiwa Securities, quoted by Dow Jones Newswires.Investors include much more than expected joint statement of finance ministers and central bankers from the G20 at the end of the meeting in Washington Thursday.

Other major European markets are evolving in a piecemeal, Frankfurt ahead of 1.25% but London always yields 0.84%.

Moreover, the concern surrounding the problems of sovereign debt in Europe remains strong, especially as we enter a crucial week for Greece. The International Monetary Fund (IMF) said that a delegation will travel to Athens this week to determine whether or not the country can benefit from the sixth round of eight billion euros, it vital to avoid bankruptcy. Moreover, Germany will vote Thursday the agreement for the expansion of the scope of the relief fund of the zone (EFSF). Sunday, German Chancellor Angela Merkel expressed confidence the outcome of the vote.Evangelos Venizelos, Greek Minister of Finance, for his part spoke with Jean-Claude Trichet, head of the ECB, a debt restructuring Greek.

In an effort to reassure global markets, finance ministers of the euro area are committed in a common text, to "do everything necessary to solve the crisis of debt and financial stability of the area in whole and its Member States. "The idea of ​​taking office faster than expected EFSF has also been raised by Germany this weekend.

EU Commissioner Olli Rehn himself has said that Europeans reflected to provide the EFSF additional instruments, beyond those agreed in July to give "more power" in an interview with Die Welt newspaper.

The Ifo index better than expected

The Ifo index of business climate in Germany has brought a little balm in the heart of investors. Ila recorded in September a decrease less than expected payday loans.However, this is its third consecutive decline, which seems to suggest that the activity of the first euro zone economy is slowing.

Program from the rest of the week are particularly, the index of investor confidence and U.S. consumers (Tuesday), the final reading of French GDP in the second quarter (Wednesday) and U.S. (Thursday) and retail sales in Germany (Friday).

As for currencies, the euro still appears under the $ 1.35 this morning at 1.3407 dollar. Oil prices, however, went up the slope in morning trading, amid hopes of an agreement to increase the reserve fund for the eurozone.A barrel of "light sweet crude" for delivery in November gained 18 cents to 81.04 dollars a barrel and Brent North Sea crude for November delivery took 42 cents to 104.39 dollars.

Values ​​to follow

• Banking

The banking sector led the trend. By late morning, returning 7.7% BNP Paribas, Credit Agricole and Societe Generale 7.3% 4.54%.

Rumors are still running on a recapitalization by the state of all French banks. The Journal Sunday this weekend evoked an injection of 10 or 15 billion euros.

In addition, the Deposit, the Postal Bank and Dexia negotiate the creation of a new public to fund local governments, according to Le Figaro.In addition, the Franco-Belgian bank could increase its program to sell its toxic assets, housed in bonds, 20 billion euros, according to Les Echos.

• LVMH (-2.23% to 103.10 euros)

The group announced Friday now hold almost all the shares of the Italian jeweler Bulgari, the luxury giant announced the takeover in March.

• France Telecom (-0.91% to 11.40 euros) Iliad (-0.70% to 84.80 euros), Vivendi (-1.29% to 14.57 euros), Bouygues (-1.89 % 24.43 euros).

The state is on track to win his bet on the financial 4G mobile frequencies after a first series of which reported more than budgeted and, according to experts, suggests an aggressive posture in the second round by operators who have not had the expected number of lots.

Note that the IPO of Groupama, long anticipated, was again postponed and is now expected "more towards 2015," said its director general, Jean Azema, in an interview with Les Echos.

Finally a positive signal in the current economic environment. According to the firm AON-Hewitt, the companies expect an increase of 3% of their budgets for salary increases in 2012, against 2.8% this year. According to the 183 companies surveyed in this study, the general increases to 1.9% (against 1.7% in 2011) and the individual, mainly intended for managers, 2.7% (against 2.3% in 2011 ). These prospects for wage increases are close to pre-crisis levels of 2008, but achieving them. In 2009, budgets were part of an overall increase in growth of 3%, but reached 3.3% in 2008.

If companies somewhat loose purse strings is to best manage a triple constraint, says Ariane de Calbiac, head of compensation consulting at Aon, Hewitt."Their priorities for 2012 are at the same time to maintain the purchasing power of their employees, retain their best people while controlling costs payday advance online." The "talent retention" is indeed an urgent need for HR managers at a time when the rate of commitment of employees show great signs of weakness in a company in three.

The variable has the dimension

The current stock market turmoil, with their potential economic consequences of corporate life, are they likely to question the good intentions wage. Not at this time, meet officials of AON-Hewitt. "The forecasts are reliable at this point. The survey was conducted between late June and 19 August.At that time, companies were already aware of the economic uncertainty, "insists Ariane Calbiac.

Other trends survey wages, AON-Hewitt is the further development of variable compensation, including among the non-executives, and increase the overall value of the "package" of compensation, which includes the Perco or employee ownership.

After launching its offer in May with mobile calls, text messages and unlimited internet for 24.90 euros monthly subscribers to its box (and 49.90 euro for non-subscribers), Numericable goes further. Reportedly, the operator will now enable call abroad from the mobile unlimited. An option to pay 10 euros per month, which will be available as of September 19 for all.

"This is a world first, exclusive service and unprecedented," enthuses Jerome Yomtov, general secretary of Numericable. "We want to bring all the mobile services already on the box at home, at home or abroad called unlimited," he says. Over 100 countries are included in this offer, including most major destinations throughout Europe, the DOM, the United States, Canada, Asia.It is extended to calls to Morocco and Algeria for Numericable subscribers who have subscribed to the "Maghreb More" on the NCbox.

This new offering "world" not only to make calls to landlines abroad, but also to the Chinese mobile, U.S. and Canada fast payday loan. And supply expected to be enriched in the coming months. "You can call the U.S. since its unlimited mobile to 34.90 euros a month. United States, to call a mobile to mobile unlimited is $ 70. In short, it will be cheaper to call the U.S. from France, than to be there! "Said Jérôme Yomtov.

Numericable says the offer will be profitable.While the cost of communications decline in Europe and the world, he found a business model by negotiating agreements with major international operators such as Verizon, Telefonica, Cable and Wireless, Tata Communications.

One way to cut the grass under the feet of Free which means lower prices but also change the mobile uses. "This is the mobile revolution continues," trumpets for days on Numericable Tweeter … which led to his being sued by Free, which considers the term as its slogan identity. Atmosphere!

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Eurobonds are too expensive. It is seeking to demonstrate that the calculations of the German Ministry of Finance, taken by the weekly Der Spiegel on Sunday. This mechanism, which is to pool the debts of 17 countries in the euro area, regardless of their health, the first year would cost 2.5 billion euros of interest in addition to the budget of the German finance minister. This cost would be twice as high the second year to a total of 20 to 25 billion at the end of ten years.

On this basis, German Chancellor Angela Merkel has once again firmly rejected the introduction of this system, although many market professionals believe that this is the solution to the crisis of European sovereign debt. "The Eurobonds are quite the wrong response to the crisis of the moment.They would lead us to a union of debt and not a union of stability, "she says in an interview with ZDF.

His comments echo those made by the Minister of Economy Philip Rösler the newspaper Bild am Sonntag: "The Euro-bonds are a bad signal sent to national economies failed. Cover the risks of other countries with Eurobonds would immediately drive up interest rates in Germany. This would have dramatic effects on growth in our country, "said he.

Strengthening governance

Despite all these outputs, the German government did not draw a line under this system. The finance minister, Wolfgang Schäuble, has again said that the countries of the euro area could issue Eurobonds if échafaudent prior fiscal policy and fiscal policy.But this move towards integration is not fast enough, he said. "Most Member States are not quite ready to accept the necessary limitations on national sovereignty. But believe me, it's a problem we can solve, "said the Minister in an interview with Welt am Sonntag.

Wishing to lead by example, Wolfgang Schäuble has said for his part personally prepared to transfer sovereignty to Brussels. "As a person, I would be ready. The idea of ​​a European finance minister I have no problem.But as finance minister I say that it is our duty to solve problems here and now, and that as soon as possible based on existing contracts. "

Wolfgang Schäuble will meet his French counterpart Francois Baroin Tuesday to discuss the harmonization of corporate tax and the introduction of a tax on financial transactions. France is the country with Germany most strongly opposed to the Eurobonds.

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