International Headlines and Stories

At Air France, social negotiations enter the heart of the matter. Thursday, at a central works council, the CEO of the company, Alexander Juniac, will unveil its industrial plan for the next three years. Air France, a lot of competitiveness, will not give any activity, but all will be involved in the effort. The low-cost group, Transavia, should be expanded and take some leisure destinations of Air France. The long haul should seek to cut costs – especially in economy class – and improve its services "business." The cargo should reduce the number of devices that are fully dedicated. Maintenance costs and reduce its rates to remain competitive

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Overall objective on which management and unions agreed last March: lower costs by 20%, excluding fuel. "There are in the business awareness on the situation of the company, confided mid-April the President of the Air France KLM, Jean-Cyril Spinetta. This is no longer debate. Everyone understands the need to act. "For Air France employees, it will mean two things: an increase of working time – key point of the renegotiation of all enterprise agreements – but also job cuts.

On this last point is highly sensitive, time calculations has officially not yet come. The company officials are sticking to the schedule already announced: it's the end of June they will detail the steps taken to refine the silhouette of a sustainable business. Reportedly, the total job cuts expected to reach 5,000 jobs by 2015, without layoffs.

Measures open for the first time pilots

Air France account first, as in the past, the attrition of employees not replaced to trim down. Each year, 800 people leave the company. Their failure to replace three consecutive years will result in 2,400 fewer positions.

In addition, a voluntary separation plan to double the number of cuts to achieve end to 5000 jobs. The pace will be accelerated significantly payday loans for bad credit. Past three years, Air France has quietly defatted its workforce of 4,000 positions, including 1,800 voluntary redundancies as part already, a plan launched in 2009.

But this time, Air France will go further: the separation plan will be open to all categories of staff: hostesses and stewards, ground staff and … drivers. A first.

In 4000 Air France pilots, we should indeed find candidates initially. Since the age of retirement has been pushed back 65 years later, the age group over 55, or 590 people, could find an interest to receive an incentive that would allow them to leave the company earlier .

"Pilots who work for twenty-five to thirty years in the business could benefit from the maximum bonus," said a company pilot. According to figures from Air France, at least 500 pilots over twenty-five years of seniority at the counter. The French pilots who see their colleagues KLM to retire at age 57 and those of British Airways to 54 say they are such a measure would repair an injustice.

As for other staff, several trade unions, as Unac, majority among hostesses and stewards (PNC), have put their requirements last week.  

"If, despite the alternatives of preserving jobs, negotiations on the restructuring of Air France" transform15 ", led the company to make a collective redundancy plan affecting PNC, then we would negotiate an alternative to the criteria of a dismissals under the Labour Code with priority call for volunteers and incentive fees at the start, "said Frank Mikula of Unac.

"We can not afford to keep people made redundant, an executive summary of the Air France-KLM. Better to pay them not to keep. We will calibrate the plan to get a return on investment after two years. "

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From Sunday morning, Japan will be left without nuclear energy. The shutdown of the country's last active reactor actually began on Saturday, shattering the share of nuclear energy in electricity Japanese a little over a year after the disaster of Fukushima. A provisional release in principle. The last operating reactor, Tomari 1, on Hokkaido Island (north), farm inspection. The 54 reactors of the Archipelago, which provided nearly 30% of electricity needs of the country until March 11, 2011, thus find themselves at a standstill. The four reactors in Fukushima are destroyed, them finalized.

The Government intended to review its engines one by one and reboot – he wants – is a politically sensitive issue. This nuclear phase, anticipated for months, has enormous economic consequences not only for Japan but for the rest of the world.

In 2011, the trade balance of the third world economy went into the red for the first time in thirty-one years. Half of the degradation observed between 2010 and 2011 due to higher energy bills. Until January, Japan wiped especially the soaring price of oil and natural gas. But since the volume of gas imports are growing exponentially. For more than oil (which imports fell last year), more than coal is liquefied natural gas (which Japan is already the largest importer) which replaces the uranium to run power plants. For the ten power companies already tight financial situation, which share the country, this is a massive overhead. They are already preparing their users to jump to the invoice.

Concerns in Korea and Taiwan

The first of them, Tokyo Electric (Tepco, the operator of Fukushima), announced a 17% increase in tariffs for the industry and has requested another 10% for households. TEPCO had to accept its takeover by the state last week to survive. The operator of Kansai (western Japan), the second lung of industrial countries after the Tokyo area, he believes his side will not spend the summer with reactor shutdown cheapest personal loan rates. "Kansai Electric announced a cost of generation of 6 yen per kilowatt hour from nuclear. With natural gas, the cost increases to 9 yen. It is the user who will pay "this leap of 50%, warns Paul J. Scalise, specialist electricity sector in Japan.

The archipelago is so important a part of the world economic stage that their choices weigh on all. "The new gas demand in Japan has caused concern in Taiwan and South Korea in April 2011," says one foreign player in the gas market in Tokyo. Ever on the global gas market the differences were so great between Asian prices and U.S. prices, driven down by the boom in shale gas.

The ANA, which has joined the burgeoning renewable energy industry, believe that the release of their country's nuclear factodu is proof he can do without. The cost of the energy bill can not match that of the Fukushima disaster, priceless, they argue among their arguments. "False, says a nuclear framework: simulations of the costs of insurance against such a disaster Fukushima show that nuclear power is still profitable even in this case."

Before the disaster, Japan planned to increase the nuclear share to over 50% of electricity production in 2030. The government is preparing in principle for the summer, its new energy strategy for the long term. It should instead provide a reduction instead of the atom. In the immediate future, without it will prove costly for the Archipelago.

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For once it is not Airbus which organizes the festival, but ATR, the second aircraft manufacturer based in Toulouse, in the shadow of European giant. Equal subsidiary of EADS and Italy's Finmeccanica, the manufacturer of regional aircraft propeller book on Thursday, Air Nostrum, Iberia subsidiary of Spanish, the thousandth machine out of its assembly site.

A symbolic milestone for ATR's plans to increase its production by 60%, to 54 aircraft per year in 2010 to 70 this year to reach 80 to 90 per year by 2014. At the same time, its turnover has to go from 1.3 to 2 billion.

Consequently, extensions are underway on the site and "hundreds of jobs will be doubled," said Filippo Bagnato, ATR CEO. ATR employs 1,000 people in Toulouse and in 6000 made working in France and Italy with subcontracting. Sitting on a record backlog representing three years of delivery, ATR new ambitions: "it is possible to reach the 2,000 aircraft delivered within ten to fifteen years," says the president.

China threat

To listen, you almost forget that the company, founded in 1981 with the launch of the ATR 300, narrowly escaped death in 2004 with a backlog of five aircraft. The manufacturer was the victim of the craze for jets that, throughout the 1990s, have conquered the regional aviation market while surfing a bit expensive oil.

"Our shareholders have been clear. They did not put the key under the door but had to hold ATR not to lose money, be in equilibrium. We therefore reduced the size of the company. It was that or death, "recalls Filippo Bagnato. ATR gathers her remaining strength to attract new customers. "We had to sell the plane three times to the airline, to subcontractors who were reluctant to invest and banks." ATR increases its range and benefits of soaring oil prices which increase operating costs of a regional jet. Propeller airplanes take their revenge. This is the slaughter. Only Canada's Bombardier and ATR survive, but not Saab, Fokker, Dornier, Jetstream, Fairchild … The airlines have their accounts: in the same journey, the "turboprop" consumes two times less fuel than a jet.

Despite its success, the manufacturer remains vigilant. The turboprop market is promising – with a projected delivery of 3,000 units from 50 to 90 seats in the next 20 years. It arouses desires. ATR expects a reaction which should give Bombardier a successor to its Q-400. He is also concerned about competition from China. "China has had limited success with the M 60 which is nothing more than an evolution of a Russian aircraft. But it launched a 70-seat aircraft and is considering a 90-seat aircraft, "said Filippo Bagnato. The M 700, a copy of ATR according to experts, is being developed. It is expected on the market within three to four years.

To stay ahead, ATR continues "feasibility analysis" on a larger aircraft with 90 seats. The development of a new propeller device costs twice cheaper than a jet – less than $ 2 billion. But the decision belongs to EADS and Finmeccanica.

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Concern is growing about employment in the telecom sector. Jean-Claude Mailly, general secretary of the Workers Force, wrote to Constable telecom (ARCEP), with a copy to Francois Fillon, a letter to "attract (his) attention to the impact of the fourth mobile license in the sector ". An appointment was set with the President of ARCEP, Jean-Ludovic Silicani next Monday late afternoon.

"Our fears are a large alignment with lowest social ultimately affect employees in terms of pay, job destruction and group benefits and more generally on the future of this branch , "wrote Jean-Claude Mailly. "The public authorities must establish as quickly as a regulated framework for preventing the destruction of jobs and preventing these abuses do not fall into place," he adds.

Concerns for call centers

End of March, in an interview with Le Figaro, Jean-Ludovic Silicani indicated that the sector "risks losing about 10,000 jobs in two years." But this destruction should be creating value, generating new jobs at Free Mobile first, but also in related sectors such as electronic commerce or the Web.

A macro view is far from convincing FO. "Our feedback from the field we are rather echoes of 30,000 job cuts on the entire industry," said Pascal Pavageau, FO confederal secretary in charge of economic and industrial.

Orange, SFR and Bouygues Telecom, destabilized by the arrival of a new competitor, of course, have interest in stirring the cloth of employment. "Some may want to cry wolf. But we see that restructuring is already underway among operators: contracts are stopped, benefits with subcontractors shall be adopted, the new hires are canceled and call centers are now going abroad, " Pavageau said Pascal, even claiming that "3% to 7% of jobs in France are starting to be outsourced, mainly on call centers." In the medium term, the union also fears that the sector is no longer able to invest as much in development, innovation and research and development.

That is seeking its FO meeting with the regulator? "First, we want to immediately and quickly, from the regulator and the government, an overview of employment in the sector, says Pascal Pavageau. Second, we want the government obtain a commitment of four operators in the maintenance of employment in France and their investment opportunities. "

The union will even consider that Oseo or ISPs may be called on to provide funding, if necessary.

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A month after the controversy created by the opening of its giant plant in Tangiers, and while made in France remains a central issue in the election campaign, stoutly defends his Renault acceleration in the low-cost. Cultivating paradox, the group believes that its low-cost models to help protect jobs in the Hexagon. And even if the MPV Lodgy Dacia, built on the site of Morocco, is proposed for Wednesday from 9900 euros, more than twice unless the Renault Scenic assembled at Douai, in the North.

On a European market down, "there is considerable logic to make the models where we can make them competitive," said Carlos Tavares, the deputy CEO of Renault. "While our competitors are forced, in a desperate step, practice excessive discounts, may destroy value, we invented a way to make money more effectively," he says. The low-cost range "the most profitable business" liberates margins well above 6%.

a French champion of global size

With these profits, which are "reinvested", "Renault is protected, we avoid tough decisions, our competitors are forced to take. This helps prevent people make social plans, "says Renault boss operational, which notes that" those who claim to have higher production in France more important than ours, are also those in losses. " More generally, "France would gain by having a world champion-size automobile. When the company expands overseas, it's good for the group in France, "said Carlos Tavares.

Renault has made last year 23% of its vehicles in France (against 44% for PSA). In the long term, its production declined sharply in the Hexagon: 445,000 cars and 201,000 commercial vehicles in 2011, against 1.1 million cars and 227,000 commercial in 2004.

The Lion, the automotive division was not profitable last year (- 0.2% operating margin, against 0.8% for Renault), will remove 6,000 positions this year in Europe, including 3,500 in-house .

Handicap image

The diamond company, which devotes 40% of its investments in France, it now locates priority models with high added value: commercial vehicles, electric cars and high end. The next high-end cars, planned from 2014, however, must win while French "has a disability image" in the face of German manufacturers, recognizes Carlos Tavares. For the hour, equivalent models, the Renault cars are bought "on average 10% cheaper" than those of the Volkswagen brand.

On the electric as the band Zoe will launch its fall, the boss does not hide his disappointment at the slowness of government. "The charging infrastructure are late. France has a huge opportunity to play, we have everything it takes to become a world leader in power. I am a little concerned that we can possibly pass up this opportunity, "he says.

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An agreement, signed last week between management and the Air France pilots' union (SNPL), reduces the scope of guaranteed service in the air, reveals Liberation. Transposition of the 2008 Act applicable to the SNCF, the text of UMP Eric Diard plans to compel the workers of the company to declare 48 hours in advance. The aim is both to predict future perturbations and thus inform passengers, and to minimize its effects through the reallocation of non-striking staff.

This second objective is compromised in part the agreement signed last week with the drivers. It provides that "the planning of the flight crew is stable [...] in all circumstances and at all times, without exception." Clearly, Air France can not as she wishes to reallocate its staff not on strike or on holiday to improve traffic. The reallocation of staff are still possible, but each driver will have to agree "on a case by case."

"Defusing a dispute with the pilots'

"This means that in case of strike, there will be fewer pilots recalled and more canceled flights. It is surprising that Air France has agreed, "says a government source in Liberation. This is particularly surprising that the strike sector personnel, which began in early February against it, had ended in failure, no recoil on the guaranteed service that has been obtained.

The management of Air France, meanwhile, denies having given wrongly. "This new agreement ratifies simply clarification of an agreement dating from 2006. It is unrelated to the upcoming vote in the guaranteed service, "justified a spokesman. The management also stresses that the redeployment of staff have always done on a voluntary basis. "It does not require a pilot to fly against his will, it would create a security risk," said a spokesman for Libération. Referring to an agreement "win-win", he concedes that it is also to "defuse a dispute with pilot population."

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The absolute independence of the European Central Bank vis-à-vis the policy preventing him from speaking. Mario Draghi has openly acknowledged Thursday: "I received a few minutes ago a call from the Greek prime minister said an agreement had been reached and endorsed by the major parties," said President of the ECB at its monthly press conference in Frankfurt. Thus he was able to announce before everyone else – maybe a little too quickly, given the float that followed in Athens – the good news entrusted to him by Lucas Papademos, the former vice President of the ECB.

But, according to the principle that it is easier to comment on the affairs of others than on his own, he refused to say clearly that the ECB may decide to reduce the debt of Athens, parallel commercial banks: "We are not part of negotiations. But what we hear is that the parts are pretty close to agreement. "

"Prohibited by the European treaties"

Pressed with questions, the successor to Jean-Claude Trichet ended up giving the key to participation of the ECB program "voluntary" Burden Reduction. "If the ECB redistributes some of its profits to the Member States of the ECB … it's not on monetary financing (public debt, which is prohibited by the European treaties), "he dropped. Clearly, it confirms one of the options that have been circulating for a week: the ECB could leave the unrealized gains on its purchase of Greek bonds. Which is approximately 12 billion, knowing that the bonds were acquired on the market at a discount and would be repaid at their face value at maturity.

By hiding again behind the texts prohibiting the bailout States, Mario Draghi shows the difficulty of his task. "The time is long when monetary policy was limited to setting interest rates. Since the debt crisis, the ECB must navigate waters very political, "says economist of a major French bank.

Inflation above the 2%

Monetary field itself, new relaxations are in any case by no means excluded. "Inflation should remain above 2% during the next few months, before falling back below 2%," said Mario Draghi. He worries more than ever a dry supply of bank credit: "We are actually concerned about the slowdown in the credit."

This is why the Governing Council decided to relax the rules on eligibility of collateral (securities pledged as collateral) that commercial banks have to raise cash. These conditions are changed to "temporarily" for seven national central banks, including Bank of France. "Residential real estate loans to individuals are eligible," said a statement released yesterday afternoon in Paris, which lists the technical conditions.

On a neighbor, Mario Draghi provides that the next issue of liquidity to three years, to be held on February 29, could be done "over the range of the previous operation of this type." The banks had obtained, 22 December 2011, 489 billion and 1% over three years.

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The markets are down conviction Thursday. The CAC 40 fell by more than 2% in early trade then turned around, earning up to 1% in the morning. But mid-term is a reluctance to wait still dominates, the benchmark index of the Paris Bourse advancing 0.8% to 3099.48 points. The day before, the CAC 40 lost 2.17% to below 3100 points.

As on Wall Street and Asian stock markets, doubt seized investors, who are now considering the worst: a contagion of debt in the eurozone. With the center of these concerns, the situation in Italy, including the implementation of austerity measures remains uncertain. The announcement yesterday of the upcoming departure of Italian Prime Minister Silvio Berlusconi has in fact added to the uncertainty, as evidenced by soaring rates in ten years the Italian Treasury payday loan.Interest rates at one year paid by the Italian Treasury this morning reached a new record during a test program.

The concerns of the operators in the financial markets move increasingly towards France. This morning, the rates of French government bonds to ten years has exceeded 3.30%.

Unison concerns of investors, Brussels found the Italian debt situation "very worrying". Ditto for the International Monetary Fund: its director Christine Lagarde said today that "lack of political clarity" in Italy supplied the uncertainties, according to Reuters.

The Eurogroup meeting she reaches to allay fears about the debt crisis crippling the Paris market? On Tuesday, the leading index of 1.46% in mid-session at 3150.99 points raised by banking stocks. Yesterday, after long hesitation, the CAC 40 finished down 0.66% to 3123.99 points.

Greece but also Italy, however, always crystallize concerns have increased as rumors of leaving the Prime Minister Silvio Berlusconi, immediately denied by the latter. Nevertheless, if the vote to be held today at the Chamber of Deputies on the budget is negative, the departure of Cavaliere seem inevitable. Meanwhile the distrust of investors facing the country's public debt is climbing.The performance of the obligation of Italian 10-year, reaching 6.73% in the morning (before falling to 6.66%), an unsustainable level over time under the weight of the debt.

At the same time, the finance ministers of the euro area gathered in Brussels last night stepped up their pressure on Athens and Rome to the two countries meet their commitments to reduce deficits. In the process, Wall Street ended on an optimistic note. This morning, Asian markets have proven unreliable and shared.

In this context, oil prices are rising. The barrel of "light sweet crude" for December delivery gained 0.36% to 96.29 dollars.

Grisaille Economic ambient softness unusual temperatures have probably induced consumers for caution September. Including their clothing purchases. Consequence: France, sales textile clothing tumbled 10% over same month last year.It French Institute fashion (IFM) which launches the alarm in his last letter Conjunctural.

This falling sales spares no distributor:

-Department stores accuse thus decline sales 7% by value in September versus the same period 2010

-Chains saw sales backward 10%

-Downward turnover is 12% for independent multibrand and 14% Monoprix.

Chez Monoprix we confirms that "weather unfavorable impacted sales" but also justifies this bad news by that September 2010 compared, was excellent months "sales had then effectively climbed 7% "says we the distributor.Postponement a commercial operation christened "The nine days», held last year September but is programmed this year straddling September and October has perhaps helped falling sales recognizes we also Monoprix payday advance lender.

Worst September long …

Side independents multibrand, falling sales was certainly 12% September but segment lingerie posted according IFM the best resistance (+0.3% in value in September).

All distributors confused, sales had started marking time soon summer balances was disappointing for distributors.During the period January-August 2011, they had already declined by 1.7% in value over the same period last year.

The downward trend has clearly intensified in September, which is the worst for the industry for a long time: according to the IFM, clothing sales in France had indeed increased 2% in 2010, which was a good year, after falling 8% in 2009. But climbed 1.2% 2008 and even 8.3% in 2007.

The outlook for the month of October are not provided completely obscured: true, according to Franck Delpal, an economist at the IFM, a slight improvement in weather clothing is not excluded in October, with relapse of temperatures .