Business World |

The battle between Casino and Carrefour in Brazil could rebound. While Carrefour is trying to get hold of a number of distribution Grupo Pao de Acucar in Brazil, Casino reported last night that it has increased its stake in the Brazilian group, owner of the sign Brazilian CBD. Casino now holds 43.1% of GPA, understands Bloomberg. The news agency pointed out that the distribution group based in Saint Etienne has acquired 16.1 million of preferred securities, representing a stake of 6.2%.

In addition, Casino last night reiterated his opposition to a merger between Carrefour and GPA. He believes that the proposed merger announced between the two groups is a project of "hostile", prepared in secret, but also highlights Casino that he "has the power to oppose" the operation.The group recalled and under agreements with Diniz family, with whom he has joint control of CBD through the holding Wilkes, "no negotiations involving the future (the Brazilian distributor) can not occur without it" no fax cash loans. The group will therefore Etienne "review in the coming days how to best defend the corporate interests of CBD and its shareholders that seems compromised by this project very complex and financial."

Data that could reshuffle the cards, while Carrefour seemed on track to merge with Brazilian teachers. The Brazilian company Gama has proposed to merge the Carrefour group's Brazilian assets with those of the French retailer CBD group Grupo Pão de Açúcar (GPA). They thus constitute an equally owned company.CBD had previously merged with Gama.

ALSO READ:

"Brazil is a paradise for hyper and supermarkets

"Battle between Casino and Carrefour in Brazil

The management consulting sector confirms its forecast of market recovery and expects growth of between 5 and 7% of its business for 2011 (against 5% in 2010). Despite satisfactory order books and a volume of proposals being important, firms remain cautious. "The general feeling is that it is always an accident thank you for coming all macroeconomic challenge," says the industry trade association, Syntec Management Consulting, which has today its 2010 balance sheet and persoectives .This visibility results found at least by hiring a reboot, including profiles of graduates.

Who benefits most from this recovery? "It's the mid-sized firms that have the highest growth rate at 7.5%, the majors and large are in turn slightly behind, with growth of around 4.5% 5%, "says Syntec management consulting. Another finding, "the speakers operating on more strategic tasks or missions branches record the strongest growth."

What are the sectors most applicants for management consulting? Financial services grew and consolidated their lead with 30% of the total, followed by industry (23%) or administration (15%).As for the energy sector and the environment they are placed fourth with 11% of the missions.

As for the interventions, they relate primarily to the organizational consulting and change management (30% market share). "These services are carried by the restart of delays in 2009 and the new transformation projects," said Syntec. The consulting cost optimization continues to be well positioned with 17% of operator actions.

ALSO READ:

"Jean-Paul Brette – Syntec Council Recruitment

"The shortage of young engineers is growing

Five days before the end of the selection process for the leadership of the International Monetary Fund (IMF), supports the two candidates, Christine Lagarde, French and Mexican Augustin Carstens, continue to occur. That night, it was Canada and Australia have shown their preference for the Mexican. "Past experience of the IMF Agustin Carstens, coupled with his achievements as Finance Minister of Mexico and his current position as governor of the Mexican Central Bank, the very well prepared to understand and address the challenges facing the global economy, 'the two countries in a brief statement.

Still, while Germany shows loud and clear preference for the French candidate, the support of both countries to Carstens appears more timid.Australia and Canada underline the very strong indeed credibility of both candidates and their "weapons" to ensure the legitimacy of the IMF. This commitment shy, Mexico seems to reap the benefits of an intense lobbying. June 7, after a meeting in Ottawa with Canadian Finance Minister Jim Flaherty and the boss of the Bank of Canada, Mark Carney, Augustin Carstens had already revealed that the country would welcome a new head of the IMF International from an emerging economy. This is now confirmed. Besides these two new support, the Mexican has the support of a dozen South American countries.

For Nicolas Sarkozy, has already achieved success

This joint statement does not seem to really change the forces.Canada is indeed at the head of a constituency (group of countries) representing only 3.61% of the votes in the institution. The only real surprise, Ottawa will generally be the position of its U.S. neighbor … who, in turn, always reserves his choice.

The latest statements by Timothy Geithner, however, argue for a broad preference for the French bid. Through a spokesman, U.S. Secretary of the Treasury has in fact hired Thursday, "strong leadership skills and experience of the Minister," making it a candidate "exceptionally competent" for the position Executive Director. If the United States confirmed this view, Christine Lagarde, who already has the support of Europe (almost one third of the votes on the Executive Board of the IMF), garnering 16.8% of extra votes.French side, the case is already bent to Nicolas Sarkozy, who is already winning his Economy Minister, before the final decision expected by June 30: "A woman at the IMF, is history! And that's us! "The president reportedly said according to remarks reported by Le Parisien.

Finally, the French enjoy today to the disunity of the emerging countries, the so-called BRICS (Brazil, Russia, India, China and South Africa). Faced with their indecision, Carstens strategy to present himself as the candidate of developing countries, seems to have a hard time fly. Especially since his whole campaign, and during his oral exam Thursday at the IMF, Christine Lagarde has repeatedly hammered his desire to ensure, if elected, more representative of emerging countries in the institution .

ALSO READ:

»COMPUTER GRAPHICS – IMF: the wheels of an election.

"IMF supports Lagarde to multiply

Coincidence of timing. IMF-EU Troika-ECB chose the last week of the campaign to start in Lisbon's assessment mission. Whatever the outcome on Sunday of the early legislative, the next government already knows he will receive a very limited scope. Winner given according to recent polls, the opposition leader, Pedro Passos Coelho (PSD-center right), should apply as soon as possible the austerity program imposed by the troika, in exchange for an aid package of 78 billion euros.

Click image for larger graphic.

The commercial breakthrough of the Airbus A320 NEO would it spinning the puzzle industry? Officially, no. Still, John Leahy, the Airbus super salesman, the pounds: the manufacturer does not want its customers convert all or part of their A320 orders classic NEO, with new engines consume less fuel. This, for two reasons. First, avoid the phenomenon of cannibalization of the A320 classic, best-selling Airbus with over 6000 sales. Then avoid juggle niche of the two aircraft deliveries. "The NEO will be available only from 2015. By then, the A320 is available. There will be no overlap, "says one in Toulouse.

NEO offers a second life to the A320 but the classic version provides lucrative profits and can "run the factories." In 2010, the A320 has represented 401 of the 510 deliveries made. There are still 1900 to be delivered by 2015.Airbus is absolutely limit conversions. But it is not easy to say no to a big customer like Malaysia AirAsia, which already has 90 A320s into service on a total of 175 ordered.

While the concern is to steer Airbus as thinly as possible switching from one device to another without breaking industry. "If the A320 were canceled massively in favor of the NEO, then there would be holes in the schedule of deliveries by 2015 without another device to fill," admits one in Toulouse. "But this reasoning is extreme," says one. Another problem is rapid saturation of the NEO delivery slots.

Accelerate the pace

Hence the decision by Airbus to bring forward by six months the date of entry into service of the NEO to October 2015 and to accelerate the pace of production. From 1 st quarter of 2012, Airbus will assemble 42 A320s a month against 36 now.He plans to climb to 42 or even 44 A320s per month, provided that its suppliers could follow suit.

The stakes are high. The A320 NEO sped away, crossing the milestone of 300 orders in just five months. The Indigo Indian, American ILFC, including Lufthansa has ordered to be served first. Apart from the Bombardier CSeries expected in 2013 if not late, the NEO will be the first to market. Boeing has not decided to re-engine the 737 and would, if necessary, not ready before 2017. As for the Chinese C-919, it will not be commissioned before 2016.

By late June, John Leahy promises hundreds of new orders. Airbus estimates that the potential of his latest is around 6000 units by 2030, only fifteen years ago.It is thanks to the NEO that the A320 has reached the milestone of 7,000 orders last April 30.

ALSO READ:

The WTO will rule on the battle against Airbus Boeing

The natural disaster that shook Japan on March 11 and caused a serious nuclear accident in history, affecting badly the Japanese utility Tokyo Electric Power (TEPCO). The company reported a net loss record 11 billion euros (1.25 trillion yen) on Friday morning, well above the 9 billion expected by the Japanese press. It is the worst deficit recorded by a Japanese non-financial group. The earthquake and the tsunami have paralyzed much of its central activity based in Fukushima, a city northeast of the country now known worldwide. For more than two months in fact, at least four of six reactors on the site are stopped. Before the event, Tepco expected a net profit of 1 billion euros.

Another important announcement this morning by Tepco: Masataka Shimizu's resignation.It must be said that his handling of the crisis has been sharply criticized in Japan and the rest of the world. Particularly for its lack of transparency in the first moments following the disaster. He will be succeeded by Toshio Nishizawa, the current CEO of the group.

State utilities and banks to contribute

The future already looks difficult for TEPCO. The operator had to call for help from the Japanese government. In a request sent on 10 May at the Japanese government, the third largest producer of electricity in the Archipelago evokes an immediate need 8.7 billion euros. Very quickly, the Japanese government has responded, putting Tepco under its control and disclose its financial rescue plan."The purpose of this plan is not to bail Tepco, said Friday the Japanese Minister of Economy, but to ensure that victims are compensated properly," he commented.

TEPCO has indeed compensate the 85,000 victims of the nuclear accident payday advance. A bill that could total between 25 and 43 billion euros, according to local press. Thus the state ensures that dip into its funds and requires the efforts of other private electricity companies in the country. Even banks will tighten their belts: they have provided a loan of 1.4 trillion yen (11.7 billion euros) to Tepco are asked to waive a portion of their claims vis-à-vis the operator .

For its part, TEPCO must, of course, participate in a pinch.The group will include transfer of financial assets and properties in order to concentrate its resources on the production and distribution of electricity. In addition, the eight most senior executives of the company will also waive any compensation and personnel managers to ordinary workers, will also undergo substantial pay cuts.

In exchange, Tepco falls again

This Friday morning in Tokyo, the title has finished Tepco small increase of 0.54% before the results are published in the group. Since, in trade-off meeting at the New York Stock Exchange, the action Tepco listed on Wall Street tumbles 9.6% and is only worth 4.45 dollars. So since March 11, the title collapsed by 83%. Investors, cooled the past two months, do not see Tepco bounce soon.While its nuclear activity has melted, the group had to increase production at its thermal power plants to continue to supply the population. However, this has a cost of hydrocarbons, which could cost another 8.7 billion uros on the current tax year.

ALSO READ:

"SPECIAL REPORT – Japan devastated

"Journey to the heart of the contaminated area of ​​Fukushima

"Japan: a forbidden zone created around Fukushima

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.

One of the longest battles of the French trade was completed Friday. The Court of Appeal of Versailles has given reason for 17 miners laid off in the fall of 1948, providing 30,000 euros to the plaintiffs.

At the end of the war, the government had undertaken a reform of the statutes and was back on certain benefits to minors. Mines Colliery in France, the strike, including the right is already enshrined in the preamble of the Constitution of 1946 begins.

The conflict, particularly hard, degenerating every day cash advance no faxing. So much so that after two months, the Socialist Interior Minister Jules Moch sends riot police to end the insurgency. Nearly 3,000 juveniles are subsequently dismissed for striking.

These miners will lose not only their jobs but also their home. Banned from coal, they will meet many difficulties in finding a job.The lawyers argued the constitutionality of the right to strike and eventually won. 17 miners or their families have been successful and were able to savor their victory, 62 years after the fact.

All the ingredients to accelerate the timetable for increasing rates of the European Central Bank (ECB) meets in Frankfurt on Thursday its board of governors. Inflation reached 2.4% in February in the eurozone, a figure higher than the target of 2% of the European Central Bank, growth was also up, despite the debt crisis, to 1.6% in 2011, according to Brussels.

The ECB needs to update its forecasts Thursday for growth and inflation for the eurozone, is also banking on an increase in GDP to about 1.8% this year, against a backdrop of price acceleration."A hardening of tone is expected this Thursday, but not so much an imminent rate hike," predicts Gilles Moec, economist at Deutsche Bank in London, which considers more likely than ever a higher interest rate – set at 1% since May 2009 – in June, while most experts still expect September or October.

"Nevertheless, the ECB will act before the Fed," said Paul Robson, currency strategist at Royal Bank of Scotland. These predictions explain the sharp rise of the euro against the dollar over the past two weeks, amid soaring oil prices. On Wednesday the European currency climbed again and traded at 1.3873 dollars, against 1.3774 late Tuesday.

"Extreme vigilance"

If the ECB should adopt a more muscular speech on inflation, no rate increase is expected on Thursday. Jean-Claude Trichet has never taken the markets by surprise when it came to raise rates."At worst, it removes the benefit of unlimited liquidity to banks for three months," said Gilles Moec absolutely free credit score.

The words of the President of the ECB to discuss the trend of monetary policy will be scrutinized with particular attention. Jean-Claude Trichet has always weighed his words carefully to prepare the ground for rate hikes. One month prior to the act, he uses, in general, the term "extreme vigilance". On Thursday, he goes one step semantics in terms of "risks of rising inflation."

Two political events could upset the programmed cure: a political crisis in the Arab world such as a barrel of crude would fly sustainably $ 40. Which would not fail to derail growth in Europe.Another factor is a scramble to EU summit next week dedicated to dealing with the debt crisis, which plunged the euro area in the heart of the financial turmoil.

Portugal is trying to reassure Berlin

Portugal has managed to rise on Wednesday, one billion euros to six and twelve months – 2.9% and 4% – and to redeem 110 million of bonds maturing in April and June, at rates ranging between 1.5% and 1.9%. Both issues have attracted strong demand. The rates charged are slightly higher than those charged in February.

Despite rumors of a quick remedy to a bailout, Portugal always manages to refinance the short-term markets. Reassuring news for the Portuguese Prime Minister Jose Socrates, who was received Wednesday in Berlin by Angela Merkel.He reiterated that Portugal was "not need outside help" to cope with its difficulties. The Chancellor has however called for new measures against deficits.

If this hand a little in every sense on tax reform – the removal of the shield and the reform of the ISF – "is that we have great ideas. Sunday invited Grand Jury RTL-LCI-Le Figaro ", the Minister of Economy has expressed that he prefers: taxing income from property rather than the stock. But Christine Lagarde outlined above reframed the debate. Because of the ISF, abandoned by most of the neighboring countries of France, "of course he has people who are leaving … We must be stopped to create an illusion that tax." "There is a requirement of fair taxation, fiscal balance and prioritize investment to remain a country of innovation," she insisted.

Alignment with Germany

Therefore, is "we struggle against the excesses of the ISF, or we invent a new tax of Heritage". A conference to be held March 3, "prune a few branches."In other words, the meeting will put some order in the proposals that go all-out on the subject. The next day, the Court of Auditors will report on the Franco-German comparison, "which will work to harmonize with our neighbor, friend and rival."

On the issue of public finances, the Minister of Economy has been very strong. "We need strict discipline to keep the goals of deficit reduction." France has pledged that the deficit reached 6% this year, 4.2% in 2012 and finally 3% in 2013. Recalling that the process of non-replacement of staff on two retiring continued and government spending (excluding interest expense of debt and pensions) were frozen, Christine Lagarde nonetheless argued that "if must take additional steps to meet our commitments, we will! ".While saying he was "no question of a general increase of taxes."

The minister has in any case more than ever on a 2% growth this year. "I am very firm on my prediction," she said – certainly to the attention of some experts who find this figure too ambitious. Based on the confidence indices in industry and in services, "I am confident that growth in the first quarter 2011 will be significantly higher than the last quarter of 2010 (which did not exceed 0.3%, a figure which had disappointed). Finally, the Minister of the Economy "hopes to below the 4 million unemployed this year."

ALSO READ:

"ISF: chief of state advocates of" real reform "