Sunday, May 31, 2015

Macron speaks of a Europe “two-speed” –

( – Europe’s once again “two-speed”! This is Emmanuel Macron that challenges the idea on the carpet in the “JDD” of the day … The economy minister speaks of a “vanguard of the euro area.” “We must accept the idea that Europe is done at two speeds, there is a united and differentiated union … There is a story to 28 (the European Union) and a story to 19 (the euro area), “said Macron which states that” Europe 28 must be simpler, clearer, more efficient and should continue to move forward on the digital and energy. “

For the Minister of Economy, “the forefront of the euro zone must, her move towards greater solidarity and integration: a common budget, a common debt capacity and fiscal convergence.” “The important thing is the project … The Treaty change is a modality resulting; ready on time.”

  – © 2015


Intel: $ 16 billion announced for Altera – Le Figaro

The US computer chip giant Intel is about to purchase more than $ 16 billion (14.5 billion euros) fellow Altera, accelerating industry consolidation, write Sunday New York Times and Lewall Street Journal (WSJ).

Intel, which had already approached Altera in April, would offer 54 dollars per share, which would value the group at 16.26 billion dollars. The unit price, which is identical to that proposed by Intel in April, represents a premium of 10.54% compared over on Wall Street Friday evening closing of the Altera Action, known for its reprogrammable components.

The transaction could be announced on Monday, assures the WSJ citing unnamed sources familiar with the matter.


Macron requires in turn a two-speed Europe – Express

Emmanuel Macron claims to speak in his name and wishing thus represent a generation. But his supposed appeal only hire him will make noise. “We must accept the idea that Europe is done at two speeds, there is a united and differentiated union” he said in an interview with JDD published Sunday.

“Europe 28 must be simpler, clearer, better and keep moving on digital and energy, explains the Minister of Ecoonomie. The vanguard of the euro area needs it, move towards greater solidarity and integration: a common budget, a common debt capacity and fiscal convergence. ”

Macron on a German online

Either pretty much demanded that the German Minister for Economic Affairs and Energy, Sigmar Gabriel (SPD) in a tirbune published Friday in the newspaper Bild. “We need Europe more courage to move forward at different speeds in the cooperation,” writes indeed thereof.

In the same article of the JDD, Emmanuel Macron supports the idea of ​​harmonizing the social systems and the creation of a common UI. It also includes the suggestion of another German minister, Wolfgang Schäuble , in charge of finance, creating a parliament of the euro area.


Greece: Tsipras, Merkel and Hollande are spoken – Le Figaro

The Greek prime minister, Alexis Tsipras, spoke Sunday by telephone with President Francois Hollande and German Chancellor Angela Merkel, and all three have reaffirmed the need for early agreement on financial aid for Greece said a government official in Athens.

“(The meeting) took place in a very good atmosphere,” the official said.

This was the second telephone conversation between the three leaders in four days, Alexis Tsipras seeking a political solution to the economic woes of his country.


The Red Cross pinned for unpaid overtime – Liberation

“Unfortunately, the urgency does not prevent.” “In any case there will be prejudicial to employees who perform considerable work every day.” Management Cross -Red trying to get out of the bread soup: a report from the labor inspectorate, published Sunday in Le Parisien , the association accused of not respecting the labor code, including not pay overtime to employees. These offenses could cost up to 11 million euros to the Red Cross, of which 2.8 million fine … Some employees have long employed, found a bit exaggerated sanction.

What says labor inspection?

This is Eric Laurent, CGC union delegate (frames), which alerted the labor inspection in late February. “I was questioning the direction for sixteen months unpaid overtime. Each time, the response was “yes, yes, we will take care” . And then, nothing. After a moment, I considered it my duty to alert the administrative authority. “

Labour inspection turns up as dry, will tell -it. A month later, a delegation was at the association’s headquarters, where 480 employees work today, the vast majority of executives. The control is not rocket science: as in many companies, the Red Cross has set up in 1999, when trading on the 35 hours, a card entry system. Employees arriving and departing point. “It was negotiated precisely to ensure that the reduction of working time is well respected,” says Eric Lawrence, employee of the association since 1979.

He falls High discovering the conclusions of the inspection. “I alerted only on unpaid overtime and ultimately, they found four types of offenses,” exclaims -he, listing: 3345 offenses for exceeding the legal duration of working time over a day (fixed at 10 hours), 291 for exceeding the weekly maximum duration (48 hours), 129 deprivation of minimum rest between two working days (11 hours) …

Why does this information out today?

The inspection issued its report on 31 March. “We had made a statement at the time, but it has hardly been taken, Eric Laurent notes . All journalists call me today, after this article the Parisian, in which are also mentioned financial difficulties and the likely departure of general manager … But that story, I don ‘ there was nothing, I was not aware this seems to be a settlement of the account. “ It also receives phone calls from employees colleagues at headquarters. ” They are relatively satisfied that Things are finally saying “, he said. Although some consider that this story is going too far.

As this employee, joined by Libération but preferring to remain anonymous. “Should not exaggerate, we work a lot, c ‘True, but it is organized as you like for schedules. So, yes, sometimes, when you have an emergency, we work a little more, but it seems normal, especially when working in an association! “ According to him, this story is indicative of changing attitudes “The longer it goes, the more there is a corporate mentality. We lose the associative side, where it was considered normal to work more when someone knocks on the street door. Or when it happens as a humanitarian catastrophe in Nepal. It is lost … “

What meets the Red Cross?

” On the issue of overtime, this is a situation which the French Red Cross is unfortunately confronted for many years, “ indicates the direction in a press release. This situation is related to the very identity of the Red Cross and its mission: saving lives “ Philippe Cafiero, director of human resources adds.” we need to succeed to reconcile our humanitarian duty and respect of labor law. We are working on it. “

For the trade unionist Eric Laurent, the answer is a bit easier. The problem, he said, comes mostly from poor organization internally, with recurrent last minute requests and sometimes unnecessary work required. But he tempers, management is not the only culprit. “The Ministry of Health also has its share of responsibility, since we are obliged to have their agreement to increase wages … If management can not pay the overtime, it is also their fault. “

Another explanation suggested by an employee association has grown tremendously, and has diversified greatly with today some 600 institutions of all kinds (emergency food aid, insertion, kindergartens, institutions for disabled persons …), 18 000 employees in all and 56,000 volunteers. “It certainly does too much, you lose it,” concludes an employee.


The Red Cross pinned on working time – The World

The Red Cross has committed 3,800 violations of the legislation on working time in 2014 in its Paris headquarters, according to a report by the labor inspectorate revealed Sunday, May 31 Le Parisien / Aujourd’hui en France . The report “206 pages” denounces the excessive working hours of 480 employees in the Paris office of the association (14 th district), whose employment contract provides 37 Weekly hours for non-executives, the newspaper said.

Of the 3,800 offenses recorded in 2014, “approximately 3,300 relate to higher working hours to ten hours” others relate to “overruns the maximum weekly” (48 hours according to the law), the newspaper reported. Labour inspectors also note a “deprivation of minimum daily rest” eleven hours between two working periods. These offenses are punishable by 750 euros each by the labor code, which is a fine of more than EUR 2.8 million. Including the remuneration payable to employees and their compensation for the damage suffered, the bill could reach 11 million for the Red Cross, according to Le Parisien .

Asked by the daily, the CFE-CGC representative, majority union, Eric Laurent ensures that “that makes sixteen months that we alert management on overtime related abuses” . “We are not dealing with an understaffing problem, we are faced with a total lack of organization of work” , says the union, citing “recurrent demands last minute application rework, unnecessary work. People are exhausted. Some start at 7 am and end at 8:00 p.m. “.

The Red Cross has defended Sunday the accusations, assuring that this is related to its mission, ” save lives, “. The French Red Cross (CRF) “is unfortunately confronted for many years” to the overtime issue, recognizes the organization in a statement. “In terms of emergency and first aid, disaster response in France and abroad, our missions require great mobilization and availability of our staff and volunteers, whatever the time of day or night “ and ” unfortunately, does not prevent emergency. “ But ” in no case there will “ ” prejudice “ to employees, ” which perform considerable work every day “ says the FIU.

” Far from confusing employed and volunteer, “, the FIU works ” to find solutions, “ to ” both to continue to undertake the tasks for which people need us, while protecting our employees “, she assures, citing a “appointment with the Department of Labor to provide effective and sustainable responses to the question” .


The French doubt the ability of Manuel Valls reform – TF1

Continuing your navigation, you accept the use of cookies for statistical purposes and customization. Read more


the May 31, 2015 at 9:44, updated the May 31, 2015 at 10:02.

 Manuel Valls

<- Zon = 2100 -> <- Blc = 175148,!" crosslink / AntidotCrosslink "-> <- Word-cl é!; MSB: valls manual (id: 18348) -> <- Block ESI 3600 -> <- Freedom Engine prdfriweb009 - Sun 31 May 2015 2:06:34 p.m. -> <- Word-cl é!!! ; MSB: valls manual (id: 18348) ->

Read also

valls manual reforms poll <- g & eacute time;! n & eacute; SSI / ESI ration : 1442 seconds -> <- Total time in requ & egrave; thy: 0142 seconds (168 requ & egrave; thy) -> <- / Blc = 175148.774, R, prdfriweb005 ->

policy A poll on Sunday, 51% of French believe that the Prime Minister is not able to carry out reforms in the economic and social field. The majority says otherwise supported a tightening of conditions for grant of the housing allowance.
Manuel Valls ” reformer “is decried. The majority of French (51%) do not think the Prime Minister is “able to carry out reforms in the economic and social field,” according to a poll Ifop published Sunday in JDD , against 49% take the opposite view.

Among the skeptical towards the head of government, 28% think that Manuel Valls is “rather not “able to make such reforms and 23% than it is” not at all “. The supporters left mostly think (57%) that the Prime Minister may carry out these reforms against 43% take the opposite view. However supporters of the UMP are 57% to doubt the capacity of the Prime Minister and this percentage reaches 66% among supporters of the FN.

The French supported a hardening of the housing allowance

In addition, 72% of respondents expressed support for “the establishment of stricter conditions for receiving housing benefits”, 64% in “ceiling on the amount of unemployment benefits for senior executives or” 53% to the “ceiling on the amount of severance pay winnable industrial tribunal, but only 37% to” streamlining dismissal in SMEs “and 32 % to “increased to 67 the retirement age for the private benefit of a full supplementary pension.”

Poll conducted by telephone on May 29 and 30 according to the method quotas among a sample of 1,003 people representative of the French population

& gt;. & gt; Video: Another poll, the French prefer Valls rather than Holland 2017

<- / Blc! = 167,132.22, R, prdfriweb504 -> <- Time g & eacute; n & eacute; ration ISS / ESI: 0194 seconds -> <- Total time in requ & egrave;! thy: 0 seconds (0 requ & egrave; thy) -> <- / Blc = 167,611.40, R, prdfriweb503 -> <- Blc = 170590, "PasseVariableUniversel" -> <- / blk!! = 170590.7, R, prdfriweb012 -> <- Time g & eacute; n & eacute; ration ISS / ESI: 0107 seconds -> <- Total time in requ & egrave; thy!: 0 seconds (0 requ & egrave; thy) -> <- / Blc = 166899.112, R, prdfriweb011 -> <- / Zon = 2200 ->

<- Blc = 170875, "ConducteurMiroir" ->

! “; $ (‘Body’) prepend (overlay). this.showPopin = function (article_element) {socialButtons.writeSocialButtons (urlToShare); popin var = $ (‘#popin’); iframePlayer popin.find var = (“iframe”); $ (‘Iframe-.watplayer-loading’) show (). (); . $ (“# Gallery-overlay”) css (‘display’, ‘block’); $ (‘.gallery-Overlay, .popin-container’) show (). if (iframePlayer.length & gt; 0) {iframePlayer.each (function () {window.onVideoReady = (function (old) {return function () {$ (“#popin iframe”) each (function () {$ (this. ) [0] .contentWindow.postMessage (‘setPlay@@’, ‘*’);}); typeof old === “function” & amp; & amp; old.apply (this, arguments);};} (window. onVideoReady));}); } SetTimeout (function () {$ (‘iframe-.watplayer-loading’) hide ();.}, 1000); / * $ (‘Iframe-.watplayer-loading’) show (). $ (‘Iframe-.watplayer-popin #popin’) attr (‘src’, $ (article_element) .attr (‘iframe-src’)). $ (‘#popin .title’) Html ($ (article_element) .Find (‘title_content.’) Html ().). $ (‘#popin .date’) Html ($ (article_element) .attr (‘date’)). (); . $ (“# Gallery-overlay”) css (‘display’, ‘block’); $ (‘.gallery-Overlay, .popin-container’) show (). setTimeout (function () {$ (‘iframe-.watplayer-loading’) hide ();.}, 1000); * /}; this.hidePopin = function (el) {popin = $ (‘#popin’); iframePlayer = popin.find (“iframe”); if (iframePlayer.length & gt; 0) {iframePlayer.each (function () {try {$ (“#popin iframe”) each (function () {$ (this) [0] .contentWindow.postMessage (‘setPause@@. ” * ‘);});} catch (e) {}}); } Popin.hide (); . $ (“# Gallery-overlay”) css (‘display’, ‘none’); $ (‘.gallery-Overlay, .popin-container’) hide (). popin.find show () (‘watplayer-iframe-loading..’); / Iframe * = $ (‘iframe-.watplayer-popin’); popin.hide (); . $ (“# Gallery-overlay”) css (‘display’, ‘none’); $ (‘.gallery-Overlay, .popin-container’) hide (). popin.find show () (‘watplayer-iframe-loading..’); iframe.attr (‘src’, ”); * /}; }; SocialButtons = function (social_container) = {this.social_container social_container; this.writeSocialButtons = function (urlToShare) {this.addFacebookLike (urlToShare); this.addGooglePlusShare (urlToShare); this.addTwitterShare (urlToShare); }; this.addFacebookLike = function (urlToShare) {$ (social_container) .html (”); if ($ (“.fb-like”) length & gt; 0.) {if (typeof (FB) = ‘undefined’!) {FB.init ({status: true, cookie: true, XFBML: true}); setTimeout (function () {$ (“#popin .fb-like”) show ().}, 1000); } Else {$ .getScript (“″, function () {FB.init ({status: true, cookie: true, XFBML: true} ); setTimeout (function () {$ (“#popin .fb-like”) show ().}, 1000);}); }}}; this.addGooglePlusShare = function (urlToShare) {$ (social_container) .append (”); window .___ GCFGs = {lang: ‘en’}; (Function () {var po = document.createElement (‘script’); po.type = ‘text / javascript’; po.async = true; po.src = ‘ platform.js’; var s = document.getElementsByTagName (‘script’) [0]; s.parentNode.insertBefore (po, s);}) (); }; this.addTwitterShare = function (urlToShare) {$ (social_container) .append (”); if (typeof (twttr) = ‘undefined’!) {twttr.widgets.load (); } Else {$ .getScript (“”, function () {twttr.widgets.load ();}); }}; }; $ (Document) .ready (function () {popinManager PopinManager = new ();}); <- Time g & eacute; n & eacute; ration ISS / ESI <- Block ESI 120 -> : 0073 seconds – > <- Total time in requ & egrave; thy: 0 seconds (0 requ & egrave; thy) -> <- / Blc = 170,875.33, R, prdfriweb001 -> <- Blc = 172100 "! LatestNewsTeasers "-> <- Block ESI 300 -> <- Freedom Engine prdfriweb006 - Sun 31 May 2015 2:17:20 p.m. -> <- g & eacute time;!!! n & eacute; SSI / ESI ration : 0.18 seconds -> <- Total time in requ & egrave; thy: 0 seconds (0 requ & egrave; thy) -> <- / Blc = 172,100.68, R, prdfriweb006 -> <- Block ESI 600 -> <- Freedom Engine prdfriweb005 - Sun 31 May 2015 2:15:37 p.m. -> <- parseAudienceEtCommentaire OK -> <- Time g & eacute;!!!! n & eacute ; ration ISS / ESI: 0249 seconds -> <- Total time in requ & egrave; your:! 0 seconds (0 requ & egrave; thy) -> <- / Blc = 167,500.40, R, prdfriweb503 - -> <- Total time in requ & egrave; thy: 0 seconds (0 requ & egrave; thy) -> <- / Blc = 167501! 23, R, prdfriweb005 ->


Economic reforms, 51% of French do not believe … Valls – The

The majority of French (51%) do not think the Prime Minister Manuel Valls is “able to carry out reforms in the economic and social field,” according to an Ifop poll published Sunday in the JDD, against 49% take the opposite view. The survey was conducted by telephone on May 29 and 30 using the quota method with a sample of 1,003 people representative of the French population.

Among the skeptical head of government, 28% think that Manuel Valls is “rather not” able to make such reforms and 23% than it is “not at all”.

The supporters left mostly think (57%) Manuel Valls can carry out these reforms against 43% take the opposite view. However supporters of the UMP are 57% to doubt the capacity of the Prime Minister and this percentage reaches 66% among supporters of the FN.

In addition, 72% of respondents were in favor “the introduction of stricter conditions for receiving housing benefits”, 64% to the “ceiling on the amount of unemployment benefits for senior executives or” 53% to the “ceiling on the amount of severance payments to winnable industrial tribunal, but only 37% to “simplify layoffs in SMEs” and 32% “increase to 67 the retirement age in the private sector to benefit from a full supplementary pension” .


Saturday, May 30, 2015

Emmanuel Macron wants more integration in the euro zone – The World

The economy minister, Emmanuel Macron, believes that “the vanguard of the euro area should move towards greater solidarity and integration” in an interview to be published Sunday May 31 in the Journal du Dimanche. It states that integration must go through “a common budget, a common debt capacity and fiscal convergence” .

Emmanuel Macron also defends the idea of ​​harmonization social systems and the creation of a common UI. It also includes the suggestion by his German counterpart, Wolfgang Schäuble, to create a parliament of the euro area

The Minister also advocated a two-speed Europe. “You have to accept The idea that Europe takes place at two speeds, there is a solidarity union and differentiated. There is a history to 28 (EU member countries) and a story to 19 (The member countries of the euro area) “, he said. He added that “Europe 28 must be simpler, clearer, better and keep moving on digital and energy” .

On the objective of greater integration in the euro area, read: The” no, thanks “Merkel and Hollande Cameron


France-Macron calls for Europe “two-speed” –

PARIS, May 31 (Reuters) – Emmanuel Macron defends in the Sunday newspaper the idea of ​​Europe “two-speed” with a “vanguard of the euro area” and “timely” a reform of the European treaties, that France and Germany seem to exclude, at least for now.

“We have to accept that Europe is done at two speeds, that there is a united and differentiated union. There is a history to 28 (European Union-Ed) and a story to 19 (the euro area-Ed), “said the French Minister of Economy in the JDD.

“Europe 28 must be simpler, clearer, better and keep moving on digital and energy,” he said.

“The forefront of the euro area needs it, move towards greater solidarity and integration: a common budget, a common debt capacity and fiscal convergence, “he adds

. “The important thing is the project. The Treaty change is a modality that follows; ready on time,” says Emmanuel Macron, which specifies not to “bring the government spokesman,” but speak “to advance the collective debate.”

In a column published Friday by the newspaper Bild, the German Economy Minister Sigmar Gabriel called on Germany and France to pursue European construction without necessarily wait for other countries to follow the same rhythm the Union.

According to the JDD, the two men must make public joint proposals this week.

British Prime Minister David Cameron, who wants a EU reform before a referendum on keeping his country in the EU by the end of 2017, invited his European counterparts to be “imaginative”.

His request However, a revision of the treaties is a red line in Paris and Berlin.

According to a document that Reuters was able to consult, France and Germany seem to light a fire against developing a project to strengthen cooperation between the 19 countries of the euro zone without touching the existing treaties. (China Labbé, edited by Bertrand Boucey)


For the CEO of Airbus, “the design of the A400M is not called into … – France Info

After examining the black boxes, one of Airbus officials had already announced that “ there was no structural defect” of the plane, but that a “serious problem quality in the final assembly “ was the cause of the accident.

Fabrice Brégier, CEO of Airbus civil aircraft subsidiary Airbus Group, confirmed Saturday morning the microphone of France Inter that the origin of the drama would come from a “ weakness in the testing procedures before the flight up the plane” . According to him, “ the design of the aircraft is not affected .”

For the CEO of Airbus, “the design of the A400M is not questioned “

READ ALSO ►►►Crash an A400M in Spain: the victim of a plane engine failure

The president of Airbus also said in passing that the teams responsible for the A400M “ will watch this very closely” , assuring that “ crew safety and passengers was the number one priority “ of the company.


Airbus: probable human involvement in the accident A400M –

( – The circumstances of the crash of the Airbus A400M military in early May in Spain, begin to fade. Neither the pilot nor the engines would be involved, but the accident was due to bad download of an important software.

According to sources close to the case cited by Les Echos’ of the day, it is the power control software of four engines – turboprops – and this program was poorly downloaded during the so-called “pre-flight” phase, ie the phase that separates the output of unit from the assembly line of its first flight.

“A serious quality problem in the final assembly”

On May 9 The A400M, which was to be delivered to Turkey, crashed shortly after takeoff from its first test flight after suffering a power loss of three of its four engines. The crash killed four of the six people on board. Black boxes have been recovered but the specialized unit of the Spanish Ministry of Defence in charge of the investigation has not yet made any comment on their analysis.

Without going into details, the director the strategy of Airbus Group Marwan Lahoud, confirmed the thesis of the technical problem, tied to a procedural error. In an interview with the German newspaper ‘Handelsblatt’, Lahoud said that “black boxes confirm, there is no structural defect, but we have a serious quality problem in the final assembly.”

The group received on Wednesday the results of analysis of the black boxes, which “confirms our internal testing,” said the head of Airbus. On 19 May, Airbus had already alerted its customers asking them to control the electronic engine management system.

Delays and additional costs for the A400M to repeat

Since its launch in 2003, the A400M program was peppered with incidents and delays. Scheduled for 2009, the first device was eventually delivered in 2013, with the key to an additional cost of several billion euros for the program. The unit was commissioned some 180 copies by eight countries. France, Germany, Great Britain, Spain, Luxembourg, Belgium, Turkey and Malaysia

The problems of the A400M led Tom Enders, Airbus CEO Group, to replace these last months the leader of the military aircraft sector, and the head of the A400M program.

Since the accident of May 9, Germany, Britain, Turkey and Malaysia have suspended their flights A400M. France, she says them, but only for operational emergencies.

  – © 2015


Crash of the A400M aircraft design is not called in … – Le Parisien

May 30, 2015, 11:43 | Updated: May 30, 2015, 12:33

The design of the A400M military transport aircraft is not called in question occurred by accident in Spain in early May according to the CEO of Airbus.
Illustration. (AFP / Cristina QUICLER.)

According to Fabrice Brégier, CEO of Airbus civil aircraft subsidiary Airbus Group, the fault lies more in testing procedures.

The German daily Handelsblatt Friday evoked a problem in the installation of the engine control software to explain the accident. “Already, it means that the design of the aircraft is not in question,” says the director, in an interview with France Inter and Les Echos iTV broadcast Saturday. “Then he got it, actually, a weakness in the testing procedures before the aircraft flying up because it was the first flight of a production aircraft, a problem that came from the setting implementation of these procedures, “he said, recalling that it was the defense branch of Airbus Group, Airbus Defence and Space (Airbus DS), which was responsible for the A400M program and therefore the internal investigation.

VIDEO. The CEO of Airbus’ aircraft is less than one accident per 10 million flights “(iTV and Les Echos)

Asked about the possibility an assembly error of the same type occurs on civilian aircraft, the leader emphasizes: “at the group level, every time you pull all the consequences of such an accident, or even an incident” . . “We have not had, in Toulouse, problem over the past 20 years, he adds

A total of 174 A400M aircraft have been ordered by eight countries: Germany, France, Spain, UK, Belgium, Luxembourg, Turkey and Malaysia. Only twelve are in service today.

A copy of the A400M, for Turkey, crashed in Seville (southern Spain) on 9 May, leaving four dead and two seriously injured.


Brazil at a time of recession and austerity – The World

Le Monde | | By

Demonstration against the government of President Dilma Rousseff, to the National Congress of Brazil in Brasilia on May 27

The view is shared by all the experts: the economic activity of the first Latin American power goes bad and worse, has yet to hit “the well bottom” . The publication of the gross domestic product (GDP) for the first quarter 2015, Friday, May 29, confirms the failure of growth that hits Brazil for the fifth consecutive year.

With a GDP decline of 0, 2% in the first three months, a drop of 1.6% compared to the same period from January to March 2014, the country has, in Comparative annual figures, its worst result since 2009. Although this decrease remains below market forecasts which had forecast a 0.5% decline, she throws a new downside of the seventh world economy. What reduce accordingly the narrow scope of the new and very orthodox finance minister Joaquim Levy, author last week of a vast austerity plan 69.7 billion reais and confronted, even within the majority, an unprecedented revolt by supporters of a softer line.

Already, the government of Dilma Rousseff has planned for this year, a decline of 1.2% of GDP, higher even with the forecast of the International Monetary Fund (IMF) expects a decline of 1%. If this scenario is confirmed, this would be the worst result ever recorded in the last quarter century. “Everyone hoped the worst time of the activity would be in the first quarter , says the economist Paulo Gala, but confidence continues to …


Xavier Niel and Patrick Drahi: brothers enemies of telecommunications –

Patrick Drahi will not put their hands on Time Warner Cable, the cable number two in the US. Charter Communications, the US leader, blew his case on May 26 You can not win every time. A week earlier, the boss of Altice has taken everyone by looping short redemption of 70% of cable operator Suddenlink seventh player in the US market, for $ 9.1 billion.

The discussions had been initiated a year ago. Even as Xavier Niel of Iliad mobilized the teams on the redemption T-Mobile, the fourth US mobile operator. He also sees far and wide. The offer to $ 15 billion had been retoquée by the shareholder Deutsche Telekom, but the creator of Free could console themselves with Monaco Telecom and Orange Switzerland, which he took control via its holding NJJ Capital. Nothing now seems to curb the two French entrepreneurs of telecommunications: the world is their playground But their strategies differ radically

The industrial strategy:.. The cable king and the apostle of mobile

With Suddenlink, President of Altice – parent-Numericable SFR – returns to his first love: the cable. In all countries where it has invested – France, Belgium, Israel and Portugal – this X-Telecom has always been a first step by buying fixed telecommunications networks, and especially in the cable industry, which he considers a future technology and where the companies are undervalued. Secondly, it takes a position in the mobile and built convergent offers. In the United States, Patrick Drahi wants to participate in the consolidation of a highly fragmented and very dynamic cable market, with growth Annual almost 7%, while Numericable penalty, merely growth 1-2% in France, a market ultradominé by ADSL technology, driven by Free.

Xavier Niel, meanwhile, has never believed to cable opportunities in France. He judges the outdated infrastructure, mainly due to lack of investment of French operators over time. “The founder of Iliad does not prohibit reviewing cases elsewhere in the sector, particularly in Northern Europe,” a connoisseur of such records. But it is first on the mobile he now bases its acquisition strategy. This has happened in the United States, Israel and Switzerland. The businessman seeks above all to growth to fuel its business, whose cost structure is extremely tight. Cutting costs is a sport practiced assiduously by both men. With some variations

Cutting costs. Consolidator cost killer and sober Developer

At their American campaign failed, the Iliad teams had highlighted the synergies that ‘they might engage in restructuring T-Mobile. At the heart of this reorganization, the information system, which is a huge cost to the operators. This platform, which both manages the network traffic as customer billing, is itself the result of a unique organization deployed by Xavier Niel, which allows the group to function in daily life frugally.

But beyond technology choices, the executive committee of eight members has not changed since a decade, teams and wages are tightened, the performance is rewarded, research and development are internal … A sobriety that is bearing fruit in the latest rankings published by powerful bosses Challenges, profitability (on capital employed) of Iliad is approaching 19% a year, when barely exceeds that of sector 8%

Meanwhile, Patrick Drahi demonstrated its cost killer talent. His empire, he built it by acquiring existing operations and in bad shape. By consolidating the cable sector in France, he had the opportunity to try their hand on a myriad of variable-sized companies since 1999. The businessman has a reputation for buying at the right time and the right price and to restructure without qualms. Hunt for big salaries, hunting consultants, extreme pressure on suppliers … All means are good to reduce cost structures. Xavier Niel Patrick Drahi or these slimming cures, however, not have the same purpose

The financial capacity. Priority to the repayment of debt or lower prices

A Altice, hunting costs helps accelerate the repayment of debt that Patrick Drahi remains at peak levels. The US operation door Altice net debt to 33.4 billion euros, or 5.5 times its EBITDA, according to a note to RBS analysts. For comparison, Charter Communications, the group of John Malone, the American cable king Patrick Drahi describes as his mentor, has a ratio of 5. A situation that does not seem to worry the markets: in one year, the valuation of ‘Altice was up 160% to some 32 billion euros. For investors, Patrick Drahi has the wind in the back with historically low interest rates, and a method that allows it to generate maximum cash acquisitions.

This efficiency is readable in First quarter results 2015 Numericable-SFR, in which it is estimated at 200 million the savings made. At this rate, they already exceed 150 million financial expenses provided quarterly to the repayment of the SFR acquisition debt. No wonder that the group provides for 2015 an EBITDA up 20% to 2 billion, when analysts expected 1.3 billion. So much so, says Anthony Carvalho, Fourpoints analyst for the investment fund, “their record is not enough in debt. They have the space to pursue their ambitions in Europe.” Or fund new US acquisitions.

Iliad uses the cash generated to maintain the lowest possible price and gain market share. The group is not allergic to debt and had demonstrated in 2008, managing to complete the financing of the repurchase Alice week after bankruptcy Lehman Brothers. And yet the United States last summer: the operation T-Mobile demonstrated the group’s ability to quickly raise $ 15 billion in an acquisition. And mobilize his troops

The reconciled guards. Task force and very French international commando

During his American campaign, Xavier Niel has demonstrated the effectiveness of its task force . At the heart of the device, the secretive Rani Assaf Floor on the network and computer systems. At the operational, it can rely on its general manager, Maxime Lombardini: it is he who turns the house Free overnight. To work with the banks, it is based on Thomas Reynaud, its paying agent, now deputy director general at the head of a team of five young wolves. There finally Boukobza Michael, who lives in Tel Aviv, but was requisitioned by Xavier Niel when to restructure.

To support it in its offensive in the United States, Patrick Drahi can rely its very international commando team, led by Dexter Goei, Franco-American, 43, the CEO of Altice. This virtuoso of finance is helped by a CFO weight: Dutchman Dennis Okhuijsen, 45, former treasurer of John Malone

The small staff also includes Jeremie Bonnin, 40, most loyal. General Secretary of Altice and two latest recruits: German Burkhard Koep, a former Morgan Stanley joined the team there less than a year to support the whole part mergers and acquisitions. And Alexander Brand, Patrick Drahi legal advice, founder of Franklin Paris office, who participated in fifteen Altice operations.

Used to work together, men Drahi the commando took the habit “to list all the best practices of each operation,” said a familiar of the businessman: document format methods discussion through the negotiations, everything is stored and reused in the following deals.


Expenditures at the head of INA: Agnès Saal against attack – BBC

The Anticor Association said it had filed a complaint against X after the revelations on taxi fares from the former President of INA, Agnès Saal. It was defended by his lawyer, who in particular pointed to the higher expenses of its predecessor Mathieu Gallet.

The combination of the finger tip “multiple offenses affecting public probity.” Anticor Friday filed a complaint with the prosecutor of Créteil after revelations on taxi charges that forced Agnès Saal to leave the presidency of the National Audiovisual Institute (INA) and expenditure under President Mathieu Gallet. The association denounced alleged acts of “misappropriation of public funds” for Agnès Saal and “favoritism” on his predecessor.

Agnès Saal has resigned last month after Le Figaro was revealed that she had spent nearly 41,000 euros in taxis notes in ten months, several thousands euros for his son. According to his lawyers, the former CEO of INA repaid 15,940 euros for travel expenses, including 6,700 euros in “expenses attributable to his son” and 5840 euros “private nature of displacement.” They also argue that all the taxi fares “are less than the amount of the means that were offered to him,” namely a second driver, whose “annual cost would have been EUR 62,000″, excluding costs related to the use of the car. By combining mission expenses, travel and reception, the lawyers say, according to their calculations, Mathieu Gallet spending more Agnès Saal when he presided INA.

For its predecessor would not remains. According to the Canard chained , he would have been accused of “irregularities” by the Economic and Financial Control, which depends Bercy. These concern a number of public contracts awarded between 2010 and 2014 with consulting firms, without any call for competition. All this would cover more than one million euros. These markets include particular contracts with OpinionWay Tags and societies, for a total of nearly 250,000 euros. Now Tags is chaired by Denis Pingaud which is none other than the current communication advisor Mathieu Gallet at Radio France. The latter was also vice president of OpinionWay when signing contracts with the INA. Already challenged by a historic strike at Radio France, the applicant denied the reports and evokes a “conspiracy” against him.

“For an institution funded largely by the taxpayer, there a total casually or even more on the management of public money at a time when the state must be exemplary, “said Jerome Karsenti, lawyer of the association that fights against corruption. The latter also concerned that the Ministry of Culture did not take the floor as a result of these revelations. “It is clear that there is a certain acceptance of the institutions to say that financial mismanagement is tolerable,” lamented the lawyer. “It makes a complaint to alert utilities of their responsibility.”

(With agencies)


A400M problem in the assembly of engines – FranceTV info


The investigation and study of the black boxes of the Airbus A400M highlighted a serious problem in final assembly in engines. A peak for this aircraft which accumulates very significant delays and additional costs. An engine control software was not installed at the assembly plant in Seville.

Black boxes confirm this. There are no structural defect, but we a serious quality problem in the final assembly , “says Marwan Lahoud, head of strategy at Airbus. Since then, Airbus has ordered an inspection of all the electronic engine management systems. These manufacturing problems are problematic since the birth of the project in 2001. Delays in delivery are important. In total, 174 aircraft have been ordered to only 12 deliveries.

The JT

Other topics of JT

On the same subject


Google leaves Google+ Photos and major changes – Le Figaro

Google on Thursday unveiled a new version of Google Images, which became an independent service of the social network Google+.

Google multiplied ads Thursday opening of its Google I / O conference. One of the biggest changes is the new application Google Photos, already available on Android, iOS and from any browser on a computer.

The picture was one of the highlights of Google+ , the social network Google has never managed to compete with Facebook. Today it gained independence. On the Internet, it can be accessed without going through Google+, via address And on smartphones, the Photos app, which was mainly used to store and view photographs, received a packed news update.

As was the case when he was attached to Google+ The service is free and allows you to store photos and videos unlimitedly. Google compresses files so they do not exceed a resolution of 2048 pixels and 1080p video quality. For those who want their pictures are not altered, it will pay at the rate of $ 10 per terabyte.

Two major functions appeared in the new version of Google Photos: collections and the wizard. First observation by visiting Collections: Photos Google has worked for you. The application has achieved “Stories” by itself depending on content, geolocation, and when the photo was taken. No need to find a title, the app is is already loaded. Thus, some pictures taken in the Belgian capital are transformed into a history called “My Wednesday morning in pictures – Brussels and Schaerbeek.” Animations between pictures and frames and even filters have been added by Google.

The wizard is the other pillar of the new Google Photos. It allows to combine several pictures to create stories, animations, montages, or simple albums. The wizard can also create small movies from a selection of photos, which you can add filters, various transition effects and music (a sound bank is integrated). Also in this regard to facilitate the task of the user, the app suggests a montage. We can accept it or redo everything yourself. By transforming film a series of photographs taken in the corridors of Le Figaro Google Photos proposes a retro filter accompanied by classical music.

Google Photo organizes, edits, shares and stores (cloud) snapshots. That’s it. ‘Users can make their public images by generating a link visible only by those who possess it, as Google Drive, or by sharing their stories and collections on other social networks. But there is no Google Photo statements as there are on Facebook or Google+ accounts. This is not a large social network of the photo, nor a direct competitor Instagram and its 300 million users.


Friday, May 29, 2015

Lehman Brothers. The former CEO evokes a forced bankruptcy – Ouest-France

Richard Fuld, the former boss of Lehman Brothers, whose bankruptcy was the trigger of the financial crisis, said on Thursday at a conference in New York (USA), the establishment n was not at the edge of bankruptcy filing in September 2008 (see box).

“One of the best Wall Street banks’

” I have always said, and this is proven now that Lehman was not in bankruptcy in September 2008 ‘ said Richard Fuld, 69, in his first public appearance since the collapse of the investment bank there six and a half years. “I do not count the time spent with the Congress” , he began, referring to the tense hearings before US lawmakers very angry after the bankruptcy of Lehman Brothers.

In a speech, part of which was broadcast on the American channel CNBC financial information, Richard Fuld spoke of a “forced bankruptcy” , ensuring that Lehman Brothers was “One of the best Wall Street banks’ , with a culture of ” real success “.

According to the former banker, the bankruptcy of Lehman Brothers and was due to a combination of unfavorable factors: “It’s not one thing that caused the 2008 crisis (…). All Driver itions were met to trigger a cataclysm. ”

The symbols of Wall Street’s bad habits

Richard Fuld also castigated the attitude of the US government “who wanted everyone realizes his perception of the American Dream “, that is to say, to own a property. Particularly singled out, abundant liquidity and interest rates at very low levels that, according to former boss, have encouraged banks to lend money to insolvent households without worrying about the consequences. “There is much to say (but) enough! It is time to move forward “ is still loose the former CEO.

The return of Richard Fuld on the public stage comes as the US press speculation that he wants to create a new investment fund. For his part, the man gave no indication of his personal projects. To recall, shortly after the fall of Lehman Brothers, Richard Fuld and the bank have been portrayed by the American authorities as symbols of Wall Street mistakes that led to the worst financial crisis since 1929.

Lehman Brothers was forced into bankruptcy Sept. 15, 2008, crushed by the weight of its exposure to subprime mortgage, called “subprime” . At the time, she was the fourth US bank. Since then, regulators have tightened regulations limiting speculation and forcing banks to strengthen their safety cushion to avoid a new financial crisis of great magnitude.


The central bankers of the G7 urging a deal with Athens – Le Figaro

Officially, Greece is not on the agenda of discussions on growth or financial regulation. But behind the scenes, worry smoldering.

How not to talk about? For two days, the G7 finance ministers and the central bank governors, representatives of European institutions or IMF chief tried hard exercise to raise as little as possible the situation in Greece.

The press time yet to reach an agreement between Athens and its creditors, who were all represented in Dresden, Germany. Officially, Greece is not on the agenda of the talks, devoted to growth or financial regulation. “We talked about it a few minutes,” said the German Minister Wolfgang Schäuble hosted the G7, at the end of the two-day meeting. That is to say, unless of Ukraine and about as much as Nepal. As if it was not a subject that could weigh on the economy, if not global, at least European. “Greece has not upset our discussions,” said his side the French Minister Michel Sapin.

Machine speculation

The major European financial are to avoid runaway, in one direction or another. Unlike ads from the Greek government, the agreement is still far. “These” positive “ads do not reflect the progress of the discussions,” Schaeuble ruled. “There is still work to do,” commented the corridors the European Commissioner for Economic Affairs, Pierre Moscovici, who presented a short report to its partners. Harder still, IMF chief Christine Lagarde ruled in an interview with the daily Frankfurter Allgemeine Zeitung , “unlikely” the conclusion of an agreement in “the coming days”. It also ensured that the IMF, in which Athens has to repay 1.7 billion euros next month, 300 million in a week, would be inflexible.

This interview blew a wind of excitement in Dresden. By declaring that an outflow of the euro area was a “possibility” and that such “Grexit” “would not mean the end of the euro”, Christine Lagarde revived speculation machine. So much so that the boss of the IMF has completed his remarks in the evening. This is something “which I hope the Europeans will not face because they will find, hopefully, a way to agree on the future of Greece in the euro area.” “There is no script for” Grexit “,” assured Michel Sapin the next day. “If we start talking about a Plan B, it means that no longer believes in Plan A”, warned Pierre Moscovici. A Greek exit from the euro would not destabilize the entire European economy, do we want to believe in the G7.

hazardous Previous

The concern smoldering however, and the non-European members of the club of the powerful, which was excluded Russia last year, took care to say. “All parties must move,” urged the Secretary of State to the US Treasury, Jack Lew. “There must be flexibility on the part of institutions,” he asked, adding that “very difficult decisions” must be taken by Athens. “In the interest of all and of the world economy”, this problem should be solved “without coming to a crisis.” For Japan also, avoid a dangerous precedent. “From the time a country would leave the Eurozone, it would not be the same monetary union, stable, than before”, told the Handelsblatt business daily the Governor of the Central Bank Haruhiko Kuroda. Greece’s creditors know this and would conclude the negotiations if possible peacefully.


Ina: a complaint from Anticor aims Gallet and Saal – Le Figaro

The Anticor association, specialized in the fight against corruption, filed a complaint against taxi expenses of the former CEO of INA, Agnès Saal, and contracts awarded by Mathieu Gallet, current boss of Radio France, to time he chaired the Institute, do we learned from the lawyer of the association.

The advanced combination of “multiple violations related to public integrity,” the details of the complaint, consulted by AFP and also revealed by France Inter and France Info.

Named to head the INA in 2014, Agnès Saal was forced to resign in late April after being pinned for spending more than 40,000 euros taxis in ten months, including 6,700 euros by his son who had its reservation code at the G7 company. “It is not disputed, in this case, that Agnès Saal used for personal purposes partly taxi she commanded and paid with public money from INA,” said the association in its complaint.

Agnès Saal had been appointed to replace Mathieu Gallet, appointed head of Radio France, and also covered by Anticor for contracts under his chairmanship of the National Audiovisual Institute from 2010 2014.

The association is based on an article published in the Canard chained early May that a Ministry of Economy of the service found “irregularities” in a number of public contracts awarded without competitive bidding and covering more than a million euros with consulting firms.

These markets include particular contracts signed with companies OpinionWay and Tags, for a total of nearly 250,000 euros. Now Tags is chaired by Denis Pingaud current communications consultant Mathieu Gallet at Radio France. And Mr. Pingaud was Vice President OpinionWay when signing contracts with the INA.

Anticor also concerned that the Ministry of Culture did not take the floor after these revelations. “Institutions It shows that he has a certain acceptance for that financial mismanagement is tolerable,” lamented Mr. Karsenti, lawyer of the association. “It makes a complaint to alert public service responsibility”


“Case Saal officials, the Keno winner for life



Greece: the agreement with creditors is it a mirage? – L’Express

Well, no, not yet. While Alexis Tsipras announced midweek imminent agreement with its creditors, the Greek enthusiasm was dampened by the European Commission, such as the IMF. “We have not arrived yet, there are open questions to be resolved,” said Thursday the spokesman of the Committee for Economic Affairs. “It is very unlikely that we reach a comprehensive solution in the coming days,” said IMF chief Christine Lagarde. About tempering of a much more explosive secret to Frankfurter Allgemeine Zeitung , that a “Grexit” was “possible” and does not mean “the end of the euro”. Tchuss , Greece?

The IMF wants to recoup

Time is short. In a week, June 5, Athens must repay € 300 million to the IMF. Then 336 million 12, 560 and finally 336 16 19. The € 1.6 billion in all. If, according to several European sources quoted by AFP, the first payment would be honored scraping the bottom of the barrel is not the case of those that follow. There is one month, Christine Lagarde ruled out any postponement of payment. The release of 7.2 billion euros of the last tranche of the aid plan for Greece is indispensable to avoid a default, prior to a possible exit from the euro.

The parties have agreed “on most issues,” the Greek Finance Minister Yanis Varoufakis. But the yawning gap remains on others: pension reform, VAT, and definition of a primary budget surplus, in particular. The increase in VAT must be Parisian not to discourage consumption, particularly in the Greek islands living from tourism. More annoying, the European Commission and the IMF are not on the same wavelength. The IMF is a short-term lender, who wants to quickly recover its funds. According to Le Monde , the IMF wants the retirement to 67, against 65 for the Commission, while the Greeks offer 62 years. The IMF demands for 2015 primary budget surplus higher than the Commission, which would merely 1% of GDP. Given a continuation of austerity, when the government of Syriza has vowed to end.

From the advantage of default

How a deal would it be possible even if the creditors do not have the same goal? “To find an agreement, it is necessary that Athens still make efforts, but also that the IMF lost ground,” tells the World a source close to the negotiations. In this perspective, the threat of default is a good weapon to stay in the euro. A goal that all stakeholders, including the IMF, are still officially attached, as is the majority of the Greek population.

“Do not pay the IMF on June 5 could be the best thing that could happen to Greece”, even argues economist Christopher Dembik Saxo Bank in an analysis notes: “It is sometimes the chaos that can occur with solutions. ” Indeed, the IMF has one month to declare a default country after finding that has not been repaid. An ideal window to reach agreement urgently. According Yanis Varoufakis, the real deadline expires “on June 30, when futures happens the extension of the bailout plan.”

Within two years of debate

Christopher Dembik same repels maturity in July, when Greece will have to repay $ 3.5 billion to the ECB. “We are moving towards a minimum agreement that will leave aside the most controversial issues,” he predicts for L’Express. But without global agreement, “the Greek problem is likely to stay still vivid for at least two years.” In this horizon, a change of majority in Germany could indeed pave the way for a new restructuring of Greek debt, the only way to revive the economy.