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For the third and penultimate trading session on the agreements "competitive employment", management has decided to accelerate. A draft framework for these agreements was submitted Tuesday to the unions to allow companies to adapt working time and wages according to the activity and avoid having recourse to short. On this subject on the table by Nicolas Sarkozy in January, the MEDEF is pressed to agree – while the unions themselves, the play shows until the presidential election.

Laurence Parisot, the boss of bosses, gave instructions to his troops to quickly reach a compromise: "Beyond the election, so does employment and business life."

The project submitted by the employers provides that such agreements are negotiated within the company, with unions that are present payday lenders. "The branch is present in an advisory capacity and can not be blocking," says Patrick Bernasconi, leader of the employers' delegation. Moreover, the agreement should be concluded for a fixed period, not exceeding two years. The refusal of an employee to accept a dismissal would sui generis authorizing him to receive severance and termination pay.

The unions responded in a disorganized, the polite refusal of the CFDT not judging "not balanced" the denunciation of a "job blackmail" by the CGT.

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The French are increasingly choosing to sustainable consumption. With the crisis, their new creed is "eat less but eat better." The year 2012 starts elsewhere in the gloom on the front of the consumer. The French have reduced their spending by 0.4% in January, INSEE announced Tuesday. This is despite the sales. A recent survey * Ifop, higher wages and purchasing power is a priority concern for 58% of French people (+ 7 points from August 2011) in the context of the presidential election. In addition to these concerns, the ideals of consumption to find a new green accents echo in these times of crisis. A brief overview of the latest trends in cutting waste.

? Donations from individuals, to stop throwing

"Donation after donation, we change the world." Is the slogan of Freecycle.org, a global network of gifts between individuals born in the United States in 2003, which now has 7 million members in 95 countries. In France, it boasts just over 44,000 members. The principle is simple: users register for free on the site to enter into relationships with other individuals and to make donations and recovery of objects. With over 345,000 members, the site Donnons.org created in 2006 has never experienced the crisis. In February, over 9,000 people registered on the site, after more than 11,000 new members in January. "With the decline in purchasing power, our members are looking for an alternative way to consume, and want to give new life to objects instead of flooding the waste dumps," said Isabella Geist, moderating Donnons.org. For the poorest, this site allows free access to certain equipment. "Unlike associations, we function as a social network. Some people stay in touch after making a donation. "

The "comeback" the most spectacular remains of the knitting. Photo credits: Karine Image / Flickr

In a mobile market completely disrupted by the arrival of Free Mobile, Bouygues Telecom said it had lost 159,000 customers, of which 134,000 went to Free Mobile. This represents 1.4% of its fleet of 11.3 million mobile customers. Last week, Orange announced that it had lost, for its part, 201,000 mobile customers in total, or 0.7% of its fleet.

Result, Bouygues Telecom expects a decline of 10% of its turnover in 2012 to 5.14 billion euros. The arrival of Free Mobile is not the only cause. Martin Bouygues, CEO of the group, also cited pell-mell "regulation, the end of the differential termination, terminal costs, Chatel law which is one of the most protective for the consumer."

To resist, the group announced a plan to reduce costs this year. "Our goal is a plan to save 300 million euros, which will be achieved in part through new commercial offerings but also using our flexibility on external loads," said Martin Bouygues. The group, which has 9,800 employees in late 2011, should not undergo abrupt reduction of the workforce. "By cons, what is clear is that staffing levels, recruitment Bouygues Telecom are completely blocked (…). We will let the natural decline to do, "he said, adding that cost savings could affect contractors, subcontractors and suppliers.

"Free Mobile makes the cuckoo"

Bouygues Telecom is also focusing on innovation. The group decided to have a strong positioning in the offers "bare" (without telephone and commitment, 100% web) with B & You, and with the offers services through Eden. It will market its new box with the Sensation "the most powerful processor market and offers the largest VOD thanks to agreements with TF1," said Martin Bouygues. He announced that the band would embark on the next generation mobile (4G) this year and was pleased to have obtained frequencies' en o "- in the band 800 MHz – stressing" they allow a very good coverage inside buildings. "

Martin Bouygues has admitted that the offer of Free Mobile was very aggressive. "But it is by no means a reflection of its production costs. Free Mobile is the cuckoo on the Orange network, he said. The telecom industry is a fixed cost. If someone could have a variable cost structure, if there was distortion of competition, it would in my view extremely serious, "he added, without elaborating.

On the roaming agreement that allows to use the Free Mobile network Orange, Martin Bouygues considers it "would not be unusual that this contract be made public, since the two competitors know, and two others not." All these topics should be discussed at the meeting between Martin Bouygues Telecom and Constable (ARCEP). "If we must suffer and die, it will be the fault of the regulator," he concluded.

Yesterday, Bouygues share lost 2.09%, to 23.88 euros, while the action Iliad (Free) clôturait on a record 99.55 euros, up 2.10%.

Kellogg's takes its revenge. After being out of the game last year, the world's leading cereal offers Pringles potato chips, for $ 2.7 billion. It takes advantage of misadventures of the seller, Procter & Gamble (P & G), which had entered into negotiations in April 2011 with fellow American Diamon Foods for the sale of Pringles.

These negotiations were unsuccessful, the purchaser being mired in a huge accounting scandal. Within months, the stock price Diamond Foods has lost half its value. But the company had committed to spend $ 2.4 billion, mainly in equities, to get their hands on Pringles. In early January, Diamond Foods announced it would need to reassess its accounts the past two years, following an internal investigation into its accounting practices. Hours later, P & G said look for an alternative.

Kellogg's and P & G should complete the operation by the summer. The withdrawal of Diamond Foods will not result in financial compensation for P & G.

By offering the brand of chips, which generates about $ 1.5 billion in sales and employs 1,700 people, Kellogg's is a giant step for the future. "Pringles has a global presence that propels to Kellogg's second in the world of crackers, helping us achieve our goal of becoming a real business of cereals and snacks," says John A. Bryant, CEO of Kellogg's, which topped last year's $ 13 billion in revenue.

PepsiCo, the leader

Sold in over 140 countries, produced in Belgium and the U.S., the Pringles potato chips become the second brand of Kellogg's Special K behind The U.S. giant has already Keebler cookies and crackers and Cheez-It Townhouse. The group also sells cereal bars and fruit snacks. But he has to go up a gear abroad.

"The acquisition of Pringles it provides a platform for international distribution of its products ready for snacking," analysts said BernsteinResearch. This should lead to synergies, particularly in Asia, where Kellogg's is still low.

Dominated by PepsiCo, the snack market, with sales approaching $ 65 billion, grew twice as fast in the last five years in emerging markets (+9.6% on average) than in mature markets. The sale of Pringles brand disengagement of P & G's food, a segment where the world's leading consumer products had tried to diversify in the 1990s. In 2004, he had already sold its Sunny Delight juice. It intends to focus on cosmetics, personal care and cleaning products.

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The tone rises between Orange and Free Mobile. Both operators have had a long meeting Tuesday afternoon on their roaming contract. Neither party did not wish to comment. This contract allows Free Mobile, which has pledged to cover 27% of the population with its own network, using the Orange network for the remaining three quarters, pending the gradual ramp-up its own infrastructure.

But Orange claims that 90% to 95% of calls made by customers Free Mobile currently go through its network. "The rise of Free Mobile Traffic is bigger and faster than had been anticipated and announced by Free. When you put these offers on the market, is expected to be some demand. There was a big underestimation on the part of the Free ", on Tuesday said the CEO of Orange, Stéphane Richard, on lepoint.fr.

"We manage the network from day to day, but it is in the interest of both parties to adapt the forecast, because the situation is not entirely satisfactory. We're open to our partner Free, and we will talk together. I hope we can ensure that the agreement can continue, "he said. Free Mobile home, he denies any tension or psychodrama, saying it is normal discussion between two partners.

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"Price, portability and network: the answers to the Orange Free

A common corporate tax between France and Germany to celebrate the fiftieth anniversary of the Elysée Treaty next year. It is hollow, formed by the dream Paris and Berlin. The German Finance Minister Wolfgang Schäuble and his French counterpart Baroin Monday presented a Green Paper setting out "the points of convergence on corporate taxation" between the two banks of the Rhine.

Reflection launched on 16 August 2011 and summarized by Nicolas Sarkozy: "Germany has a rate of corporation tax but a lower tax base broader" than France. In other words, German companies pay less tax but are more likely to pay. "Our idea is to broaden the tax base on French companies and thus to reduce rates," said the head of state.

The Green Paper points which quickly scans the fiscal convergence seems impractical for a long interest in those where the approximation is possible.

This is essentially the corporate tax. In Germany, the SI is set at 15.5% plus a contribution called "solidarity" of 5.5% and a "tax purposes" which varies according to the municipalities. On average, however, a German company pays a SI of 29.5% approximately. The rate was lowered by ten points over 2008. In France, the general scheme includes a corporate tax of 33.33%, with additional contributions of up to 3.3% for very large enterprises, while SMEs with a turnover of less than 7 , 6 million IS a pay cut to 15%. In total, if we add various other taxes – remnants of business tax – taxes paid by French companies of a certain size are 12 to 15 percentage points higher than for German.

According to the two ministries of Finance, "in order to maintain the competitiveness of German and French companies, the effort of convergence of corporate tax rates should mainly consist of lowering the standard rate of IS French, offset by a widening of his plate. " The effort, it is clearly stated in black and white, will be mainly to make the side of France: "Germany does not aspire to no change in the rate of corporation tax," we read in the Green Paper. Germany might instead be inspired by the French regime for the taxation of transactions between subsidiaries.

Technical work now completed, the two capitals will now launch a consultation, "particularly in the Parliaments and businesses." The goal is to "allow implementation of legislative measures convergence by 2013."

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The fall was accelerated by Dexia irregularities. A document written by the supervisory authority in 2010 reported several violations of the Franco-Belgian bank, reported Liberation.

The body responsible for regulating the banking sector would have directly challenged the previous management but also the leaders still in office. The report was quoted as saying, "number of findings concerning mechanisms for managing derivative positions are likely to contravene the regulations." Regulators cite "in 2007 and until 2008, the disclosure of Dexia Credit Local has remained evasive about the increasing risks, including the CEO and directors were aware. She ignored the violations of regulations and monitoring liquidity risk. "And the report says "the information to the public was not accurate, precise and sincere."

These omissions or falsehoods for the purchase of a portfolio of bonds and speculative securities amounting to 100 billion euros, an "illogical financing local government, the report quoted by Liberation. Regulators also suggest a failure on the part of the Dexia value of this portfolio of assets, both at the time of purchase as to resale. Worse, the leadership in place deliberately magnified the value of assets. The "overvaluation is estimated at at least 2 billion euros." Auditors such as Deloitte and Mazars have closed their eyes, the report said.

Loans to shareholders to purchase securities

The management team in place is also not spared.In a letter dated September 4, 2009, the report stresses that "the director of the institution has provided an underestimation of the volume of transactions."

Meanwhile, the Financial Timesaffirme that Dexia has paid 1.5 billion euros in its first two institutional shareholders before 2008 so that they carry out acquisitions of securities of the Franco-Belgian bank. But Dexia would, at the time, not breaking the law then in effect. The question is whether the court will examine the case Dexia.

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Morale is looking good again this Thursday on the Asian markets. After being cooled by the Slovak parliament not the strengthening of the European Financial Stability Fund (EFSF), investors in the region are now reassured by the statements of European leaders to end the debt crisis. They have shown their approval for an urgent recapitalization of banks in the euro area. Analysts see it as an important change: the euro area is now considered a default of Greece as an option.

Operators also appreciate the position of the European Commission called for a strike force increased EFSF. In this regard, the Slovak government promises a new vote in Parliament no later than tomorrow, Friday. These news had boosted European and U.S. markets to new heights yesterday.

A weaker yen

Direct impact on the markets, the euro is rising again.It is 1.3801 dollar and is trading around 106.30 yen this morning sharply higher against the Japanese currency. In Japan, the Nikkei is relieved by the weakening of the currency. One hour of closing, he climbed 0.86% to 8814 points. Export values, hit recently by concerns over the global economy is picking up. TDK Corp jumped 4.17%, 2.96% Sharp and Citizen Holdings 3.05%. The automotive sector is also up to the image of Mazda Motor (4.49%) and Hyundai (2.7%).

The Stock Exchange of Hong Kong and Shanghai respectively earn 18,680 points to 1.91% and 0.50% to 2432 points. As for ads, the trade surplus of China has contracted to 14.51 billion dollars last month with a slower growth of exports.They rose in September by 17.1% year on year to reach 169.7 billion dollars, slower than imports jumped 20.9% to $ 155.2 billion dollars.

The Korean Kospi advance of 1.11% to 1829 points and the S & P Australian 0.85% to 4240 points, relieved by the authorization granted by the competition authorities Virgin Australia (1.59%) for an alliance Singapore Airlines (1.52%).

Oil markets more cautious

The oil was however down Thursday in Asia, where the market wait before the publication of figures on weekly petroleum reserves in the United States. In electronic trading, a barrel of "light sweet crude" for November delivery lost 86 cents to 84.71 dollars. Barrel of Brent North Sea crude for November delivery yielded nine cents to 111.27 dollars for the last trading day of the deadline.

Shale gas are not likely to be exploited in France. This was decided by the government, according to our information, is about to repeal the three exploration permits in possession of the American Schuepbach respectively (in the Ardèche and the Larzac) and French Total (near Montelimar) . The decision should be formalized at the start of next week. It comes close a file full of controversy.

Under the legislation July 13 that prohibits the controversial technique of hydraulic fracturing to exploit shale gas, licensees had to put the government in September a report in which they detail their exploration techniques. Sixty-four reports have been well reviewed by the Directorate General for Energy and Climate (DGEC).Most relate to conventional deposits and are not a problem.

In its report, stressed Schuepbach did not give up hydraulic fracturing, considered the only available technique to extract oil trapped in narrow fissures of shale payday loan. The operator is therefore logical to withdraw his license by the government.

However, Total indicated on September 12 to do without this process. "We do not take for granted the release of Total, we will use the report" had then told the BBC the Minister for Ecology Nathalie Kosciusko-Morizet. According to a source familiar with the matter, the experts found the report of the French group in accordance with law. Unless last-minute turnaround, it was not enough to prevent the decision to revoke the license of Montelimar."Nobody would have understood that we the American differences and not the French," said an industry expert.