The expectation of employees is very high, but the room for maneuver because it does not turn a ship as France Telecom as a racing boat. Stéphane Richard will therefore have to show all his talent to convince and mobilize, after months of crisis, France Telecom on its new project.

After requesting a "right of inventory" since taking office in March, the new strong man of the group presented on Tuesday his union business plan for France Telecom.

The economic, strategic and commercial details will be this Wednesday from 10:00 am to 16 30 to Saint-Denis (Seine-Saint-Denis) with a thousand top managers of the group, and journalists on Monday.

France Telecom insists that it is a collective project "coconstruit" with managers, employees, social partners, which have many meetings and other working groups in recent months.But the fact remains that everyone expects to see "leg" of the new boss, his strategy for France Telecom and its vision of the role of the operator, particularly in the content.

Highly anticipated the level of recruitment and the amount of investment, two key points, Stéphane Richard was evasive. He could announce additional recruitment Monday over 3500 planned for this year. "But the question of investment will remain raised until they fail to break the grip of dividend imposed the state shareholder. France Telecom has paid $ 3.5 billion dividend, "Sebastian responded Crozier. "The unions are a bit disappointed because we expected the dream of enthusiasm.But the good thing is that it makes every effort to revive the son of social dialogue, "he says.

"The people at the center"

"This project is out if only because it places people at the center because it reflects poorly on the ski-being in the company, the need to regain autonomy in work, "said Dominique Glemas, delegate SOUTH. "Budget allocations will be reallocated to the working conditions, simplification of information system. We are truly in a break with the era of Didier Lombard, very centralized. The priority now is to customers and employees, "said Lawrence Rich, CFDT delegate.

Beyond the social question, the new group project should also include an industrial component, including investments in the network, particularly in the fiber network allowing access to Internet broadband."Stephane Richard told us that the network should resume its former glory," said Lawrence Rich. A major project which has the advantage of restoring momentum to the technical teams throughout. "But the leeway to invest are reduced. From a financial point of view, money is not there. It would invest 10 billion over several years, yet we hear of two billion euros. From a regulatory standpoint, the group is forced and does not build the network to its competitors, "observes Patrick Ackermann, delegate SOUTH.

Internationally, the group does not seem likely to engage in large mergers and acquisitions. But he will pursue an active policy of development in emerging countries, primarily in Africa.

New casualty of the crisis: the key feature of the station. Arrived at the head of the national railway company in March 2008 Guillaume Pepy had quickly announced his intention of transforming the rail group. But the crisis forced the officer to review his copy.

The original plan announced by the boss "Destination 2012", targeted a turnover of 36 bn euros in this horizon, an increase of 50% compared to 2007, and a recurring operating profit doubled between 2007 and 2012, 2 billion euros. But now the target may be difficult to achieve, especially operating profit, which reached 150 million euros in 2009. The officer was therefore resolved to rethink its strategy, reports Les Echos.

The group plans to develop a new strategic plan by 2015. The SNCF would nevertheless not completely turn his project in 2008.The goal to transform the railway into a group of transport and mobility services remains a major international priority. This ambition should see a significant milestone this year, says the business daily, due to income from railway agent, for the first time, less than half the total group.

Elysee and the RFF involved

And the state shareholder following these developments closely. The Elysee has stepped in and plans to hold a meeting on the subject as early as July, it said. In particular, discussions with the government and the RFF (Reseau Ferre de France, which owns the network) should help establish new directions for the business lines. The partners will also agree on the reform of railway planning activity nearby.

Another difficulty officer: reassure railway. In this regard, Guillaume Pepy envisages a tour of France regions, reports Les Echos.

lefigaro.fr – What do you think of the interference of government in governance of the France national football team?

Gilles Portelle – A long time ago that politicians are interested in sport and they have a stake. This reflects the place it occupies, in particular football, to our society.

In this case, the intervention of politics does not shock me given the consequences of this crisis for France's image abroad. Recall that FFF, like any federation, a Minister and it is normal that she is accountable. The management of events that took place in South Africa raises more general question of governance of the French sport and the organization of the major federations.The announcement of the Estates General on this theme is a good thing.

Faced with setbacks and non-sports athletes of the Blues, the sponsors have they been right to stop their advertising campaigns?

They had no choice but to do so. Indeed, these campaigns to a positive image around the team of France became totally out of step with the perception and feeling of the French people towards the players. Abrupt withdrawal of these campaigns and promotional campaigns around products bearing the image of the Blues is therefore an shortfall for marks.

The situation is dramatic in her image for sponsors?

What happened is damaging for brands including for those visible on the uniforms of the players were immersed in the heart of images that have shocked the French.A brand joins the sport primarily for the values it carries: the solidarity, commitment, fair play, respect. In other words, the absolute opposite of conduct adopted in South Africa. However, the French are part of things and can not be angry with brands that have expressed their support for the national team. I do not think they will turn away from these brands. They are the leaders and team players in France who are involved, not the team of France itself.

What the sponsors will require the FFF? Would they have an interest in breaking their partnership contract with the Blues?

The partners are entitled to demand explanations and guarantees for the future. Guarantees regarding the introduction of a new sports project and especially behavioral, consistent with the values they wish to associate.Guarantees regarding specific actions that the FFF has taken to improve the image of the group and the institution. These marks do not turn away from the team of France, the French first vector emotional and remains a partner of choice for brands. The Blues can for example TF1 to achieve record ratings, despite the setbacks and non-sports athletes of Team France.

If the conditions are met, they are ready to commit to support reconstruction. The chance of FFF is to have loyal partners, present mostly at his side for many years and are committed for the next four years.The Federation must take this opportunity to rebuild a new crew with new values closer to reality, to retain sponsors or attract new ones.

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Doing better than last May 27. That was the declared objective of the unions on Thursday morning, when an earlier day of action against the pension reform was mobilized between 395,000 and one million people (according to police and unions respectively) on the streets. Since then, times have changed. The government has announced plans for pension reform last week. A text that unions have unanimously considered "unfair."

In the afternoon, the figures for participation in parades and the strike rate was rather encouraging for the Inter-CGT, CFDT, UNSA, Solidaires, FSU and CFTC, the origin of this new day of action against government project.While some 200 rallies are planned across France on Thursday morning parades that took place from north to south have already attracted more people than May 27

It says that Bernard Thibault, secretary general of the CGT:

This Wednesday should be placed under the sign of the decline in Paris at the opening, while the CAC 40 seems to stand at ambient breathlessness on exchanges. The leading index has managed to maintain the 3,700 points on Tuesday night, but in the early exchanges, the threshold should not take.

In Europe, stock markets have made concessions on Tuesday after nine sessions chained up on. Announcing the easing of exchange rate policy of China, made Saturday, had pushed world stock markets Monday. The first steps in this direction have been given yesterday and Wednesday, with two cuts in a row the central rate against the dollar. But in exchange, the effect was short-lived. And on Wall Street, poor statistics on the front of the immmobilier has cast a chill on the market.So, this morning, the main financial centers of the Asia-Pacific are following suit.

At around 7:30 on Wednesday, the euro is at equilibrium after fell Tuesday. This rating 1.2270 dollar.

Economic News Authority

In France, on Wednesday will release at 8:45 INSEE's monthly surveys of important conditions in the industry, in construction and retail trade for the month of June as well as indicators of business climate and economic downturn. At noon, the Court of Auditors present its report on the situation and prospects of public finances.

In Germany, the GfK consumer barometer, always watched closely, will be visible at 8:10.

In the euro area, the first estimate of the PMI will be unveiled at 10:00.

And the United States, 16 hours, will be made public promises of home sales for the month of May, after a bad real estate statistics published in the ninth Tuesday: – 2.2% in volume last month, to 5.66 million units annualized.

The traditional weekly crude inventories will be available at 16:30.

Finally, this evening after 20 hours, the Monetary Policy Committee of the Fed will issue its statement.Highly regarded by investors, note any change in the discourse of the Federal Reserve.

The rate strategists believe that Societe Generale U.S. Federal Reserve will raise its rates faster and stronger than expected by the market and call for caution on U.S. government bonds.

Societe Generale wants to Kerviel lost 4.9 billion

Societe Generale will call Wednesday Kerviel just 4.9 billion euros in damages, a record amount corresponding to the loss she attributes to "fraud" of its former trader. Yesterday, the former CEO of Societe Generale, Daniel Bouton, has admitted "failures in the control of the bank during his testimony before the Tribunal of Paris.

L'Oreal Paul Bulcke, Nestlé CEO, said in an interview with Reuters that his group had no plans to change the status quo in the capital of the world's number one cosmetics line with the Pact of shareholders that binds to the Bettencourt family.

Alstom Alstom and Areva does not want to marry with Areva. "To dance the tango, it takes two. Areva does not really want to dance. We no longer so eager to dance ourselves, "Patrick said Tuesday Kron, Alstom's Chairman, at the general meeting of shareholders.

Total Total and oil stocks are worthy of attention.The International Atomic Energy Agency (IEA) publishes 10:30 prospects of markets for oil and gas.

ArcelorMittal the world's number one steel company, announced Tuesday that the apparent demand and actual demand for steel would remain positive in the second half of the year, even if they should show a slowdown during this period. Lakshmi Mittal, the CEO that the slowdown in demand was due to seasonal reasons. The boss also said he did not think the steel industry return to its pre-crisis level until 2012.

Insurance Axa, CNP, Scor … : Values of insurance will also be regarded as the French Federation of Insurance Companies (FFSA) releases on the market situation and its prospects.

Banks The banking sector remains to be monitored throughout the session. On Tuesday, he suffered a spate of bad news.In addition to degradation of the note in the long-term debt, BNP Paribas, Credit Agricole said the cost of risk on its Greek subsidiary Emporiki would weigh 450 million euros more than expected. The BNP Paribas has yielded 1.92% and that of Crédit Agricole SA 4.69%.

Discussions on a tax credit and tighter prudential rules also weighed.

The Renault-Nissan automaker Nissan CEO Carlos Ghosn, said he received 890 million yen (8 million euros at current exchange rates) for 2009-2010, making him one of best paid bosses in Japan. Carlos Ghosn made the announcement at the annual general meeting of shareholders of the Japanese group, held Wednesday in Yokohama (Tokyo area).This does not include fees paid 1.24 million euros in 2009 he has received as CEO of the automaker Renault, Nissan's largest shareholder with 45.7% of the securities.

Peugeot Peugeot Italy said Tuesday it has signed an agreement with Sorgenia first private operator in the Italian electricity market created and controlled by Rodolfo De Benedetti, for the launch of its Ion Electric Vehicle in Italy.

France Telecom, the company announced Tuesday it would invest about 515 million euros over the next five years in its network in Switzerland a few weeks after abandoning its planned merger with Sunrise, blocked by the competition authority of the country .

Like The Prisoner, the hierarchs of the Societe Generale will designate them by numbers, which creates a particularly warm climate. In the case of Jerome Kerviel, we have, in order of increasing responsibility, N +1, N +2, etc.. Until the Director General, N 7. Hence the paradoxical equation that seeks to resolve the criminal court of Paris against a chain of command if expanded and a financial disaster without precedent: (N +1) + (N 2) … + (N +7) =- 4.9 billion euros in January 2008.

Here, at the helm, N +1. A tall, friendly, very thin uniform N + (gray suit, blue tie), polytechnician ruffled the soft look. In real life, he called Eric Cordelle, 38, married, two children. Societe Generale was dismissed in April 2008 and is currently "looking for a job."What is immediately striking is that it does not seem really for the post of Chief of Jerome Kerviel and seven other traders that he agreed in April 2007: expert financial engineering, back from Japan He knows neither the language nor the tricks of trading – exactly the opposite profile of its predecessor. Hence the hypothesis raised by the prosecution, that Mr. Kerviel would have easily eaten secretly by investing 50 billion euros.

What is striking then, is how little energy spent by N +1 to the detection of internal fraud. But N 2, we hear just now, as N 7 and N 6, previously interviewed, was no more ardent. It even comes to say that SocGen was on this point, less vigilant than the first quarter came drugstore. Its controls? A Maginot Line which Kerviel was played, and that his motive remains indecipherable is a poor excuse."A trader can not leave with the cash, 'explains Mr. Cordelle. Let. But why did we not informed, inviting him to greater scrutiny, the 2005 incident, which saw the apprentice trader Kerviel win 500 payday loan lenders.000 euros speculating as Allianz, then he did not have the right? Why does no one consults he never or almost Eliot software, which records all transactions (actual or fictitious) of his subordinate? Why is not the intended recipient of two letters from Eurex, the end of 2007, in which the German derivatives market to demand explanations on SocGen excessive operations implemented by Jerome Kerviel?

True, Mr.Cordelle gives the impression of having been "thrown into the lion's den," with Jerome Kerviel who has "been acting" with a real talent since "every time he explained something, it was credible . We want to believe it was lost in the maquis computer "- the formula is the president Pauthe – in which Mr. Kerviel, he, played as a fish in water.

"To find, we must seek"

But still, the Ecole Polytechnique has an easy to hide behind the situation – activity increase exponentially, inadequate staffing, etc … The fact is that it does not, in particular, read all the emails or bookkeeping, Perhaps it would put a flea in his ear. To him as to his superiors. Therefore the bank as a system, a system so sure of himself that he did not think to detect a free electron, which methodically undermined its own foundations."To find, we must look," says Mr. Cordelle, but this truism leaves the court on his hunger. For if one man could commit 50 billion euros without anyone noticing, jeopardizing a financial institution, its shareholders and its 150,000 employees, What were the controls? Why so many "N"?

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No change in the short term. But the door remains ajar for two more months. Nicolas Sarkozy held a meeting this FRIDAY on pension reform in the presence of several ministers: Baroin (Budget), Georges Tron (Public Service) and Eric Woerth (Labour). Following this meeting, the President of the Republic has decided to send as is the bill (see the text in its entirety) to the Councils for review. No editing for now, is therefore proposed for this text which provides a gradual increase in the age of retirement until age 62 in 2018.

However, the executive says ready to developments on three issues dear to the CFDT: the situation of people who started working before age 18, taking into account the hardship and treatment of poly-pensioners (of persons covered by several pension plans).The special case of poly-pensioners had hitherto not been mentioned in the text of the reform presented Wednesday.

Nicolas Sarkozy has asked Eric Woerth offer him "at the latest before the start of parliamentary debate in September, possible developments on these topics.

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The Sony Ericsson Yendo

While the Paris index ended the session fifth consecutive increase, and finished with 3661 points on Tuesday night against 3330 points a week earlier, the CAC 40 does not seem to want to stop. To believe the future contracts on CAC 40, the benchmark index of the Paris market is expected to start Wednesday's session up strong, about 0.85%.

Early this morning the Nikkei is ironed beyond the 10,000 points, up over 2% as U.S. markets, which closed Tuesday night on a comfortable progression.

Around 7:30, the euro is changing the balance after his flight: he rated $ 1.23.Oil, he, trades at more than $ 77.

The large statistics of the day are American

In the euro area, 11 hours, the second estimate of inflation for the month of April will be unveiled.

In the U.S., housing starts, producer prices and industrial production for the month of May will be known between 14.30 and 15.15, before the opening of U.S. markets.Then, the traditional weekly crude inventories will be published.

Rodriguez's boss resigns after indictment

The specialist luxury yacht on Tuesday announced the resignation of its president, Alexander Rodriguez, indicted and jailed last week in a case of banditry, and substituting the group's founder, Gerard Rodriguez.

The scoring title, which had been suspended at the request of the company, will resume on Wednesday Wednesday.

Zodiac AerospaceLe group, whose sales fell 7.6% during the first nine months of its fiscal year, said receiving encouraging signs of restarting the aviation industry in the context of a more favorable exchange rates.The aerospace supplier confirms its annual targets.

In an interview with the Tribune, Zarrouati Olivier, CEO, says there is no plan to merge with another actor can French aviation capital and no operations are planned at this time with a group foreign

Distribution: showdown on judicial coffee pods Nestlé sued for infringing its competitor Sara Lee (Coffee House). According to information of Figaro, the casino dealer would also be covered by the complaint.Nestle, the world leader in food and owner of Nespresso, sued Friday in front of the Tribunal de Grande Instance of Paris the U.S. Sara Lee, which sells in France for use in coffee pods Nespresso machines under the brand Gold ( coffee house).

GDF Suez Tuesday, the group headed by Gerard Mestrallet did not hide his satisfaction at the announcement of the signing of a contract to build a gas power plant with a capacity of 1730 megawatts (MW) in Saudi Arabia . The operation is substantial. The future plant, which will be commissioned in late 2012, an output slightly above the EPR (1600 MW), for a price much lower: 2.1 billion dollars.But the first shipbuilder in the world, South Korea's Hyundai Heavy Industries (HHI) said Wednesday it signed a $ 1.6 billion to build a power plant in Saudi Arabia. The group said it would construct the power plant using gas from 1729 megawatts (MW) by 2012.

Suez Environment Group said Tuesday night that AA successfully placed a bond issue of 500 million euros over 12 years, due 2022 at a rate of 4.123%.

Sanofi Aventis French pharmaceutical group has signed an agreement to acquire Canadian independent group Canderm, a specialist in dermatology.This acquisition will allow Sanofi-Aventis to double its turnover in public health in Canada, according to a statement.

In addition, the company managed to obtain a refund of the medicine disorders dy heart rate, Multaq, 65%.

"It was a very important interview. Nicolas Sarkozy to thank you for coming. On Monday in Berlin, German Chancellor Angela Merkel wanted to put an end to persistent rumors of discord between France and Germany in the fight against financial crisis in Europe. During his joint press conference with French President in Berlin, Merkel stressed the need for both countries to give "impetus" to the European Union to "act operationally" and "the consequences of the crisis financial recovery '.

Determined to "speak with one voice", the two Heads of States announced it would set at G20 Toronto, the idea of a tax on financial transactions and a tax credit, " to be applied in the same way in France and Germany, "said Nicolas Sarkozy.

With Angela Mergel, the French president reiterated the need to strengthen the Pact of Stability and Growth. For the countries most lax sovereign debt, the two countries propose a penalty which would result in the suspension of their voting rights at the European Council. This proposal, which will be submitted to the European Council President Herman Van Rompuy, could lead to changes in the treaty which will be "in the near future," according to Angela Merkel.

A European economic government

Finally, Germany and France have discussed their desire to establish "an economic government of the 27" that would meet soon "on an operational and pragmatic" No fax pay day loan. The two heads of states also want power, "in case of necessity, meet only the heads of only 16 states in the euro area."There will be no country of first and second class. The idea is just to work quickly to problems concerning the euro area, "Angela Merkel stressed.

"Europe is not the most dynamic continent in contrast to the ambitions of the Lisbon Treaty. Do not create new institutions but to be more operational, has welcomed the Chancellor. Nicolas Sarkozy has reiterated his desire to "get out of ideological debates to make things happen quickly."

When asked about their respective visions rigors announced plans in both countries, Angela Merkel and Nicolas Sarkozy have remained elusive. The German Chancellor said that "Germany had done the right thing and not that France too." For its part, the French president spoke of "a matter of shared responsibility, trust and proximity.

Before the G20, Germany and France will defend their joint initiatives at the European Council meeting on Thursday.

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