Posts Tagged ‘opinions’

Total stop refining at Dunkirk

March 8, 2010 - 11:14 pm Comments Off

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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Air France KLM is still in turbulence

February 11, 2010 - 5:44 am Comments Off

Air France-KLM fails to emerge from the fog in which she sailed past four quarters. The airline announced on Wednesday a further loss in the third quarter of fiscal shifted 2009-2010, the fifth in a row. Over this period (October to December), the group garnered a net loss of 295 million euros. This is less than the 508 million the previous year but well above the 216 million expected by analysts. The operating loss also disappointed expectations, to -245 to -194 million against expected by the market.

In the third quarter, revenue fell 16% to 5.19 billion euros. Observers had expected 5.34 billion euros."The business has shown during this quarter are some signs of recovery but in an economic environment that remains challenging," the group said in a statement.

Operating loss record throughout the year

For more, Air France KLM expects operating profit in the fourth quarter of fiscal offset "the same as that of last year" was 574 million euros. This "given the expected recovery later in unit revenues, lower capacity and an increase of about 300 million dollars from the oil bill.

This means that at this rate, the operating loss over the whole year could reach a record. Indeed, nine months, the group's operating loss amounted already to 788 million euros.Adding to the loss of 574 million harvested in the fourth quarter, the operating loss over the entire year could exceed 1.3 billion euros.

In a more distant future, Air France-KLM confirms targeting a return to balanced operations for its fiscal year 2010-11, excluding the impact of oil hedges prior to 2009. The company relies on cost reductions, "expected a slight increase in unit revenues, the implementation of medium-haul product and restructuring initiated in cargo activity.

The general environment is showing signs of improvement in the airline also confirmed the International Air Transport Association (IATA). The situation could hardly be worse than in 2009.

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Earlier this week doubtful for the CAC40

February 8, 2010 - 10:24 am Comments Off

After the sharp market downturn in Paris last weekend, with the Cac 40 lost nearly 7% in 48 hours, and the misdirection of Asian Awards on Monday, investors in Paris should be cautious again. The future of the CAC 40 index was down 1.27% at 3563 points.

On the macroeconomic front, there will be no major indicator of both sides of the Atlantic, if not the economic survey of the Bank of France on the growth of France in the first quarter 2010.

Values follow

The year 2010 will be tougher than 2009 for the Franco-Belgian bank Dexia is the acceleration of the implementation of its restructuring plan which has received the green light from Brussels, said Sunday the group managing director .

EDF and Areva announced late Friday it reached an agreement on the processing of uranium used in nuclear power plants of the electrician, an issue at the heart of a dispute between the two groups for several weeks. The CEO of EADS, Louis Welsh said in Munich last Saturday he expected a "clarification" on the financing of additional costs for the Airbus A400M military "before the end of next week" Payday advance .

GDF Suez could revise its bid for International Power Plc, particularly the terms of its offer in cash, reports the Independent on Sunday, citing sources close to the French group.

The Autorité des marchés financiers (AMF) has asked for new commitments in Belvedere in the case of warrants, which in recent weeks between the group of spirits to the Association for the Defense of Minority Shareholders (ADAM).

Bongrain has reported revenues down 7.4% on a comparable basis in 2009, affected by unfavorable economic environment.

Eiffage managed to stabilize its sales in 2009 thanks to a rebound in activity in the fourth quarter.

Several publications of companies are expected on Monday: Altran Technologies, pre-market Unibail Rodamco, after-hours trading, Le Noble Age and Devoteam. Faurecia brings an extraordinary general meeting regarding the capital increase related to the repurchase of Emcon.

Safran pushes his pawns in China

February 4, 2010 - 5:32 am Comments Off

Good news for Safran. Its subsidiary, Turbomeca has been chosen by Beijing to power the Chinese version of the new civilian EC175 helicopter jointly developed with Eurocopter, said its CEO Lutz Bertling. So far, the new helicopter is equipped with American engines Pratt & Whintney, and double engine choices are few things on the helicopters.

According to Voices, the American engine could not get the green light by U.S. authorities for exportrer in China some of its technologies.

This agreement confirms the thrust of Saffron to China. Last month, the group associated with GE in CFM International, has been chosen to equip the C 919 Chinese, the future Chinese medium-haul aircraft, a rival of Airbus A320 and Boieng B737.

191 309 separations amicably in 2009

February 3, 2010 - 2:16 am Comments Off

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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The accounts of the French overseas soon file an IRS

December 1, 2009 - 4:27 pm Comments Off

Eric Woerth, the budget minister, has reiterated this morning: the cell regularization well close December 31, 2009. So far, this structure set up in April has treated almost a thousand cases of taxpayers wishing to come into line after having concealed their assets abroad. "I am satisfied with this figure. And we expect an acceleration in the last month, "said the minister. Still, the famous list of taxpayers with accounts in Switzerland alone has 3000 names.

The tax begins to have a clear profile of the French who look to the cell. In most cases the money was hidden in Switzerland. Other education, the vast majority of the repentant are people who have simply inherited assets hidden by their parents or grandparents."For these fraudsters liabilities, penalties are lower," said Philippe Parini, head of the Directorate General of Public Finance. In general, they can expect that the total tax bill (tax due, penalties and interest) does not exceed 15% of capital. The very purpose of cell regulation is allowing repentant negotiate the interest and penalties.

At December 31, this advantage disappears. "We do plan to tax audits in large numbers. People on the list of 3000 will not escape. In addition, we will create an account held by French residents abroad, "said Eric Woerth. This file, called "Evafisc" will be powered by the 3,000 names. But not only. Earlier this year, published a decree that will create a real right of communication vis-à-vis banks in France.Clearly, the Treasury will request them to submit all transactions exceeding a certain amount made to certain countries over time. The focus will change each year. "For 2010, we will examine the banks' transactions from 2006 to Switzerland, Singapore and Hong Kong," said Eric Woerth.

The method will she work? It should be a little naive indeed to get his money from France through a bank. "Think again. Some believe going into armored pipes. Marketing of banks is effectively "the minister said.

France Telecom: the number 2 ready to take orders in 2011

November 27, 2009 - 6:08 pm Comments Off

As the end of appointment of Pierre Gadonneix head of EDF had fed the speculative discussions for several months, the succession of Didier Lombard, head of France Telecom should not give rise to so many vicissitudes. Stéphane Richard, the current number 2 of the French incumbent operator, has already announced its intention to become the new CEO as soon as the mandate of Didier Lombard will end in 2011."If the board is willing, if the shareholders agree and if the little pigs did not eat me by then I will become CEO at that date," he said in an interview with the daily Progress on Friday.

"Organizing the systematic mixing of people didn't make sense"

Asked about the atmosphere prevailing within the group after the wave of human tragedies that rocked France Telecom in recent months, Stéphane Richard hopes that "the pressure was released (…) with the possibility for employees to express themselves . The Director General in charge of France operations has also qualified as "inept" the principle of mobility managers every three years."Organize brewing methodical individual has no meaning (…) this represents significant costs for interest difficult to collect," he said.

In early December should be made public the results of the survey on psychosocial risks launched by France Telecom with its 102,000 French employees. The firm Technologia, which was assigned to the case, expects a turnout particularly high 75% or about 76,000 responses.

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The Paris Bourse wait until the numbers of U.S. jobs

November 6, 2009 - 5:52 pm Comments Off

Stable at the opening, the CAC 40 has changed very little throughout the morning. ACC clings to the bar 3700 points ironed Thursday. At 13 hours, it appears to 3706 points (-0.06%). All eyes of investors have turned on the numbers of U.S. jobs that will be communicated to 14:30.

Thursday, stock markets worldwide have been well oriented due to figures released by the U.S. Department of Labor Productivity in the country.

In addition to the monthly report on employment in the United States, markets are also watching puvblication wholesale inventories in September.

Values follow

Lafarge is attacked (-4.5%). The French group has released financial results Friday down sharply in the third quarter. Net income is recorded down 38% year on year to 404 million euros while sales fell 20% to 4.25 billion euros.These results were slightly below analyst expectations.

L'Oreal is sanctioned (-1.46%) after the publication of a revenue deemed disappointing. For its part CapGemini is still undergoing clearances (-2.49%). Several brokers have changed their views following the quarterly judged below investor expectations.

Conversely, Hermes International stands (2.30%). The luxury group has for its part issued Friday sales up 5% at constant rates in the third quarter, to 452.1 million euros. The group said its goal of stable sales in 2009 could be exceeded if the trend continues this year.

Values M6 (6.41%) at the highest for two years and TF1 (4.23%) were also searched.The audiovisual group M6 has exceeded expectations by recording a marked improvement in advertising revenue chain and strong growth of its business diversification. In particular, M6 was confirmed as the month of September showed the first signs of an improving advertising market with stronger demand from advertisers in some sectors the consumer in particular.

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"Quarterly results: a signal to invest? Ask your questions!