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The rigor is no longer appropriate for the big bosses of the banking sector. Aid paid by the state and now repaid their business reaping the effects of recovery, there are incentive bonuses, considering the annual reports and press reports, clearly an upward trend for 2010. While many top executives of French banks had waived their bonuses the previous two years, 2010 has signed the back of generous salaries.

In addition to a salary of 1 million euros, up from last year, the head of Societe Generale, Frederic Oudéa, reaching his first bonus since he took office and the Kerviel affair.Bank boss of the highest paid, he will receive a variable remuneration amounting to 598,400 euros paid immediately in cash, plus a paid deferred until 2015 to comply with European Directive CRD3 applicable since 1 January 2011. In total, the variable compensation paid for 2010 could reach up to 3.2 million euros, according to the calculation of Echos.

It's a little more than Baudoin Prot, CEO of BNP Paribas, which in turn will receive a fixed salary unchanged from the previous year, but a sharp rise in bonuses. About 1.67 million awarded in total, 60% will be paid in deferred over two years with conditions. His total compensation could reach 2.47 million euros as well. Last example, the boss of BPCE, former deputy secretary general of the Elysee Perol, who waived his bonus last year.According to AFP, he will receive 1.05 million euros to this title, for a fixed salary unchanged at 550,000 euros.

Variable pay "balanced"

If the amounts received are variable up substantially, the banks but on the whole complied with certain requirements of European directive adopted in 2010. Transposed into French law by the end of last year, it aims to control the compensation of employees of banks that may affect the risks taken by their institution. To get them interested in long-term results, a fraction ranging from 40% to 60% variable compensation should be paid for example over several years, subject to results.

But according to the directive CRD3, this variable compensation should be "balanced" with respect to the fixed remuneration. And perhaps where the shoe pinches.Because as stated by the MEP "Europe Ecology – The Greens Pascal Canfin this Saturday in Libération, France did not correctly transposed the EU directive, replacing the term" balanced "by one of" appropriate ", denaturing content of the text. He stressed that, therefore, represent bonuses for 2010 "3, 5 or 10 times the fixed fee."

The Ministry of Economy, the entourage said Christine Lagarde told AFP that "France was one of the first countries to transpose the European directive, and after notification of such legislation to the Commission in February , it "made no comment."

The spirit of the directive not respected

It must also be noted that France does not figure in the worst student in the field. British officials are still better off: the new boss of Barclays there has recently been awarded a bonus of 23 million pounds.

Generally, as commented European Commissioner Michel Barnier services in the columns of Liberation, "behaviors have not changed as much as you want. The banks have not complied with the spirit and letter of our directive. " Faced with the inertia of the banking community, the European Commissioner had already threatened in April to further tighten the rules governing executive pay for banks. The newspaper said the European Commission is preparing to "carry out a thorough investigation" on the transposition of the Directive by the Member States of the EU.

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The recovery of Alcatel-Lucent continues. The telecommunications equipment has greatly reduced its net loss to 10 million euros in the first quarter of 2011. Last year, Alcatel-Lucent had accused a loss of 515 million euros in the first three months of the year.

And the group announced the quarterly results exceeded expectations. The adjusted gross margin amounted to 1.3 billion euros, or 36.2% of revenues. As to the adjusted operating income, it stands at 13 million euros, or 0.3% of revenues where analysts on average expected a loss of 68 million. In the first quarter of 2010, the group revealed adjusted operating loss of 195 million euros. The net loss amounted to 10 million euros.In addition, Alcatel-Lucent posted an increase of 15.2% of its turnover to 3.7 billion euros.

Purpose of adjusted operating income of over 5%

With these results, the group has confirmed its annual targets. "With a strong start to the year, we confirm our outlook for 2011 to grow faster than our market (…) with an adjusted operating profit more than 5% of sales in 2011," said CEO of Alcatel-Lucent, Ben Verwaayen said in a statement.

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No fireworks or confetti, SNCF is preparing a relatively quiet birthday for the 30th anniversary of its TGV. A "TGV Birthday" will circulate throughout France from Thursday until mid-July. In September, the inauguration took place September 22, 1981 – a festive event … is still under investigation. The exuberance is clearly inappropriate.Once past nostalgia to see the locomotive and orange trains from Alstom, the retro deco trains and jingoistic pride of having given birth to the fastest train in the world, that he remains today the flagship the rail industry?

In recent years, the president of the station itself is trying to deflate the myth TGV "ten passengers carried by the station every day, nine are not in TGV," says Guillaume Pepy, whose priority is now in the "daily trains, regional express trains, Transilien, trams … He even called a" niche "industry dedicated to the TGV railway.

Financially, the activity is no longer the pool of profits it was: "Until 2007, the benefits of TGV were living the box," says Guillaume Pepy."Currently, 30% of TGV lines are not profitable," said Barbara Dalibard, executive director in charge of travel industry. And company officials repeated their concern about the future of this activity open to competition with the economic balance has become fragile due to the steady increase in the tolls paid to rail network of France, the owner of infrastructure. This year, the station will pay 200 million euros more than the 1.53 billion paid to RFF in 2010.

People keep his soul

No way to offset these costs by a sharp rise in ticket prices with pricing to "low cost" emphasizes especially travelers who anticipate their movements. The TGV popular origins must retain its soul."France is one of the few countries that have succeeded mass transport at high speed, said Patrick Kron, CEO of Alstom, which has supplied all of the 540 TGV trains at the station since 1981. Families, young, old, students take the TGV. In other countries, they are businessmen who take advantage of very high speed. " In total, 1.7 billion passengers have crossed the TGV for 30 years.

The rail has dethroned the aircraft on routes between Paris and Lyon, Marseille, Strasbourg, Montpellier, Lille … Conscious of its economic impact, all want their elected officials high speed line. The projects have multiplied. Five of them should be completed before the end of the decade (eastern branch of the LGV Rhin Rhone, the second phase of the East, South Europe Atlantic HSL between Tours and Bordeaux, LGV Pays-de-Loire between Le Mans and Rennes and finally, circumvention of Nimes and Montpellier).But only the financing of the East and the Rhine-Rhone is curly. The dozen other projects in the framework of the Grenelle Environment Forum in 2007, representing a total of 70 billion euros, however, is not etched in stone. That line between Paris and Le Havre which would cost nearly $ 9 billion for only 200 km! "We must have the courage to say that some projects will not be feasible, loose Herve Mariton, UMP. Already, the lines being built require more political will than economic rationality. "

"Our task is to ensure the continued success of the TGV, said Hubert du Mesnil, president of RFF. The first lines had been made without public financing package.The State would not have gone into debt in a kind of excitement. "Each project is now based on forecasts of attendance must allow the debt. "In practical terms, a funding problem will arise for both regions sought to build high speed lines and engaged in investments in their networks and B," says Hubert du Mesnil. Decision time has come.

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Xavier Bertrand, Minister of Labour and Employment, wrote on Thursday afternoon with leaders of trade unions and employers to tell them what will be the "government commitment" after the merger of two existing devices accompanying retrenched *: Convention reclassification Custom (PRC), available throughout the country and funded largely by Unedic, and the contract of employment transition (CTP), experienced in 32 employment areas and supported by state.

Wanted a reconciliation and announced by the president in the fall to offer, as of June 1, dismissed the economic enterprises with fewer than 1,000 employees do not benefit from rehabilitation measures by their specific company, "a device effective security of their careers. "According to the Court of Auditors, 152,000 people have benefited from the two devices in 2009 during the height of the crisis (137,000 and 15,500 CRP CTP). The state plans to 6000 entries per month in the new device, or 72,000 beneficiaries a full year.

Specifically, Xavier Bertrand proposed the social partners to "take over half the cost of assistance to beneficiaries." The Minister also proposes to finance half the cost which would be generated, for compensation, by a change in conditions of unified access to the device. To qualify for CRP, a licensee is economic today have at least two years of seniority in the business. This right of access, the unions want to cut it to one year in the new device and the state is willing to take some responsibility.The minister does not however refer to the premium assistance to return to work of CTA is to grant to a beneficiary who takes a job before the end of its guidance, a bonus equivalent to half of its remaining duties (within three months). "It's voluntary," says one rue de Grenelle. Kind way to tell the unions and employers that will be theirs if they want to generalize this measure to finance it. Ultimately, the state is willing to put the pot of 70 million euros per year paydayloans. Is half that Unedic, whose rating would be around 150 million.

CTP legally existed since Thursday night

Xavier Bertrand also lingers in the mail on how to control the future unified system."In my opinion, the dynamism of the local partnership will be a key determinant of success," said the minister who talks of a "flight to be provided jointly by national and territorial social partners and the state." Exit therefore employment center that will become "an operator like any other, responding to calls for support service recipients. "This is the best way to power all those involved on the subject," a court close to the minister of Labour.

Last item of mail ministerial, not less. The former secretary general of the UMP to the social partners confirms its wish to "extend the PTC in the current until 31 May 2011", identically to the decision that unions and employers have already taken for CRP. Problem: we need a legislative vehicle, a law to extend the PTC, which expired on March 31 at midnight ….Legally, therefore, the PTC has not existed since Thursday night and its beneficiaries should be supported and compensated. "We will ensure that beneficiaries continue to have the PTC," says we rue de Grenelle, a little embarrassed to armholes. "It's a craft, a trade unionist complained. All is not legal. "The government, which has missed the boat, therefore," as if nothing had happened "and intends to resolve the problem later through retroactive legislation that will appeal greatly to the wise probably the Constitutional Council. By his death in two months, the PTC should accommodate 1,200 new beneficiaries.

* Devices that provide the beneficiaries with very intensive coaching for a year and guarantee the same period an allowance equivalent to 80% of their gross salaries.

PSA Peugeot Citroën expects disruptions in its production of diesel engines in Europe, following the supply disruption from one of its suppliers, single component concerned. Japanese Hitachi provides a part mounted on a flow meter integrated in all diesel engines manufactured by PSA in Europe. This part is manufactured in a factory in Japan. And it is in the area devastated by the earthquake of 11 March.

The impact was initially limited due to existing stocks faxless pay day loans. It is no longer possible. Thus, European production of diesel vehicles the group will be affected from Wednesday. The decrease will be between 0 and 60% depending on the site.

The manufacturer will focus on new models, Peugeot 508 and Citroën C4 and DS4, and successful models, Peugeot 3008 and 5008.The group hopes that the plant output from Hitachi will resume within a few days. Meanwhile, PSA will implement measures laid off.

Life insurance is not a matter of responsible adults. Young people and kids can also have one. Some grandparents have indeed chosen to open for them contracts to give them a financial boost. To help your grandchildren during your lifetime, to acquire a house for example, you can purchase a contract (called intergenerational), designed to facilitate donations.

Its principle is simple: you give money to your grandchild (up to € 31,395 every six years), with the obligation to reinvest in a life insurance contract. Here, and it's a big difference, the policyholder is other than your grand-son (daughter), even if minor. His parents then take care of all formalities.

To secure your donation, you can write, preferably with the help of a notary public, "Deputy pact" which will include a specified date of availability of savings (at 18 years of your grandchild, at the end of high school, etc..) and / or use of funds (for a house purchase for example). This method has the advantage of being "visible", so to avoid conflicts at the time of succession. And it can also take time "tax" because when the contract will be eight years, he will receive reduced taxation.

Another solution: make your beneficiaries

Purchase a single contract for the benefit her grandchildren is the easiest way to show generosity. You save at your pace and have at any time of your savings. You also know that capital is available on your contract will be forwarded without fees, outside succession (art.L 132-13 of the Insurance Code, available on the website governmental law publishing Legifrance. This applies if the amount does not exceed 152,500 Euro per beneficiary (for payments after 70 years, the deduction is limited to 30,500 euros per beneficiary). But, and this is the main problem with this formula, you are not comfortable when the money will be used, because the savings will be passed to your death.

Be careful also not to injure your heirs (children, etc..) So that the premiums are not considered excessive and reinstated, therefore, in your estate.

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The news has surprised market observers, and on Wednesday morning. In the race to succeed the French Jean-Claude Trichet, president of the European Central Bank, the favorite would have thrown in the towel. Germany's Axel Weber, head of the German Central Bank, the Bundesbank, would in effect told a meeting in a closed circle that he was not interested in another term, Reuters reported, and German media .

"Weber's candidacy to head the ECB is no longer on the agenda," said one source at the news agency. The Wall Street Journal, meanwhile, said that Weber said "he would not seek re-election necessarily at the head of the Bundesbank." His interlocutors have deduced that it would withdraw from the race for the presidency of the ECB.The Heads of State and Government should appoint a successor to Jean-Claude Trichet late March in Brussels.

The news of the withdrawal of Axel Weber has dropped sharply, but temporarily, the euro by late morning. The confusion was increased by the contradictory statements of the Bundesbank (Buba). She initially told a news about his boss, then retracted and deny the rumors. According to Reuters citing sources inside the Buba, Axel Weber did not consider it necessary to issue a final statement. It would, however, met with German Chancellor Angela Merkel on Wednesday morning. No information was available about the contents of the call.

A hawkish media

Axel Weber is one of the "hawks" on more media on the Board of Governors of the guardian of the euro.His outspokenness and his vocal opposition to the redemption of government bonds by the ECB reduced its chances of winning, insulation increasingly faced with more moderate colleagues about the conduct of the institution's policy .

The abandonment of Weber in the race for the presidency of Jean-Claude Trichet opens the way for challengers. Foremost among these is the Italian Mario Draghi. However, his visit to the much-criticized Goldman Sachs could be hampering its chances of winning. Personalities from smaller countries in the euro zone also would return to the front of the stage as the Finn Erkki Liikanen or Yves Mersch of Luxembourg. But perhaps another German, Klaus Regling, current president of the European financial stability, which could ultimately prevail, according to analysts at Barlcays Capital.

LE FIGARO. – In what context did you start the audit on flight safety in your company?

Pierre-Henri Gourgeon. – We announced in the summer of 2009 that we were going to ask an external mission to help us advance our security. Our ambition is to make the best of what is happening in each of our competitors and to apply it. The day we will do what is best, what one does today, we can say that we reach our goal: to bring our performance in flight safety at the highest possible level of industry. Let me also clarify that this is not an audit of all: we are in all fields, in terms of safety standards and international standards.Our aim was precisely to put our flat organization and see where we could improve beyond the basic rules applied to everyone.

This mission is it related to the crash of Flight 447?

It is certain that the tragedy of the AF 447 has created a desire for change in management, but also the entire staff. The report's recommendations do not deal yet absolutely no accident that we do now know what causes. This is the first time that experts from outside a company come listen and have access to all of its services. We welcomed eight specialists undisputed international dimension. They have issued 35 recommendations on three key themes: our organization, our culture and individual responsibilities.We will apply the most.

What are the key reforms that will be launched?

Example, we will create a new track on ground support flights with a trade to which we give a new dimension: the art of dispatcher. It is a technical expert to intervene in ongoing operational support of our crews in all phases of flight. This craft will be deployed on all our long and medium haul flights. We will provide these professionals the best tools available on the market. This represents a considerable investment of effort by Air France. This new scheme will be phased into service with us at the end of summer, and all flights of the company will be involved in two to three years.It will enhance the safety of our flights, but also the robustness of our operations and responsiveness in case of contingency.

The international team with a strong Anglo-Saxon has probably noticed the cultural differences in the organization of your company.

The subject of unions, and their number of strikes has been raised by the external mission. In the United Kingdom and Germany, you have a single union of pilots who can discuss security issues with management of the company without election issue guaranteed online payday loans. In France, it is culturally more complicated.To take this into account, we created a joint committee comprising all proposals where the pilots' unions are discussed and where all the security measures in a spirit of professional cooperation.

What will you do to improve the skills of your drivers?

We will introduce a measure that, socially, would never last a few years ago, but has been accepted by our drivers, who are well demonstrated great courage and genuine humility. The Line Operations Safety Audit (LOSA) will conduct a thirty pilots of the company to move into our cockpits until March 2011 and to observe everything that's going to improve our overall safety and operation.Air France is the first major European airline to implement the compliance program, which, beyond the pilot, affects all trades company.

The company management and wider governance are they subject to development?

Yes, we created a committee of safety of flights on the board of directors. This was one of the preliminary recommendations of the external mission. The existence of this new committee to track the highest level of the company all safety indicators. We have also appointed a security officer at the Air France Group. This person will be responsible for monitoring the implementation of our standards of safety within our subsidiaries Britair, Regional and Citijet.In general, we must create more bridges between departments and ensure that safety culture is stronger, even among the ground staff.

Investigations into the AF 447 takes you perhaps take further measures. Are you optimistic that will then start a new campaign's research unit?

We hope that the fuselage will be found, because we absolutely want to know what happened. People working on this campaign are very optimistic, but they were already in the previous season. We must remain cautious. Will we find the black boxes from the plane? Will there be the use? Do we understand what really happened? It is difficult to answer in the affirmative prior to these three questions, but it is our wish. This accident was a real grief for our group.In response, all of us pilots, flight attendants, mechanics, ground staff at all levels, we all want to be the best student and add new pages to the book of aviation safety.

Orange is the French market on the Web. Nearly a year after he set foot in the music site Deezer, which owns 11% of titresl, the operator is negotiating a capital input of video sharing site Dailymotion. According to the website of L'Express, Orange would gain between 30 and 50% of the site. The latter would, according to our information, valued at 150 million euros.

The transaction will allow investors in the first hour of Dailymotion achieve a partial exit, while neither an IPO or a complete redemption seemed to be profiled. Since its inception, Dailymotion has raised 45 million euros from funds Atlas Venture, Partech International, IDInvest, Advent Venture Partners and most recently with the Strategic Investment Fund (ISF) cash advance. The latter also owns 13.67% of France Telecom.No shareholder should fully recover during this operation.

Orange is following in the footsteps of Google, which had paid $ 1.6 billion in 2006 to get their hands on the video sharing site YouTube. Its partnership with Deezer himself has already borne fruit for the music site: it claims more than 500,000 paid subscriptions to date, against 15,000 in August 2010.

Blow to Veolia: The City of Paris is changing its supplier for lighting. The City Council has indeed confirmed the information in Les Echos on Friday morning that she told the lighting contract of 900 million euros over ten years to a consortium consisting of Bouygues and Vinci and no longer Citelum, a subsidiary of Veolia and EDF. At the Paris Bourse, but the title only loses 0.33% to 22.82 euros, tracking the decline of ACC 40.

Citelum has lost its historic contract with the city. "The tender committee of the Town Hall, held on Tuesday, has selected the offer of ETDE and Aximum, two subsidiaries of Bouygues and Vinci," reports Agence France Presse.

The nomination of the subsidiary of Veolia and EDF was discarded because of a flaw: certain parts required by the procurement code missing from the file Citelum.According to Les Echos, "were missing part of the act of commitment and a schedule."

But the incumbents do not intend to stop there. They filed an interlocutory appeal before the Administrative Court to seek annulment of the entire tender. The hearing is scheduled next week and the decision should be rendered within a few days later. "The signing of the contract is suspended at the judge's decision," they say at the Hotel de Ville, where there is doubt that the decision be overturned.

The exact amounts of offerings are not yet known

"The amount of bids made by the two candidates are not yet precisely known, but they would be less than 900 million expected by the City. It also is rumored that the consortium (Bouygues, Vinci) would have made a financial proposal exceeding that of Citelum, "writes Les Echos.

In late June, Veolia had won the huge contract for the supply of drinking water in the Ile-de-France. The group of utilities, however, had granted a reduction in the price of water of about 6% taxes.

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