The retirements have melted like snow in the sun in 2009. According to the National Insurance pensions (CNAV) 734.0000 some employees have asserted their right to retire last year, against 785,000 in 2008. It has been 10% less than in 2007, when nearly 820,000 active generation of baby boomers are retiring.

The main reason for this huge difference is the collapse of early retirement for long careers. In force since 2004, starting a long career can retire between 56 and 60 for those who started work before their 17 years. The conditions for benefiting from this device, however, were restricted by the government in 2008.

Early departures will be undermined

In 2009, 24,300 people were affected by these departures anticipated, against 122,120 in 2008 and 115,120 in 2007, according CNAV.This decline has led, despite the crisis, to increase the participation rate of older workers aged 50-64 years, has pointed the direction of animation research, studies and statistics (DARES) of the Department Employment in a report on employment, unemployment and labor force in 2009 released this week.

According CNAV, many assets have anticipated the tightening of regulations on long careers and have preferred to assert their rights to retirement in 2008. In September 2007, Prime Minister François Fillon had estimated the cost of this measure is important because it explains half of the deficit of the general pension scheme established in 2007.

Have also been restrictions on the potential acquisition of quarters, and longer duration required assessed under the successive reforms of 1993, 2003 and 2007, according CNAV.

The effects of a 1959 Act

In addition to the tightening of access device initially anticipated a long career, Dares says that downsizing is partly due to "lagged effects of the law Berthoin to 16 years with school age obligoire" for children born after 1953. An ordinance dating from 1959!

If the hour is restraint, reform of pensions in payment should not spell the end of the device of long careers. The government expects its bill for consideration by Parliament in September, to "extend and expand" the insured "who started their business at the age of 17 years." They may retire before the age of 62 years provided for the general scheme. A condition to justify a contribution period of two years longer than the duration required, or 43 years.

(With AFP)

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Always worried about the pace of recovery in the United States, and after six trading sessions in the green, the U.S. stock markets fell on Thursday.

After an opening in the green, the gains were quickly erased by investors who took their bénéfcies. Thus, at the close, the Dow Jones down 0.30% to 10,446.85 points.

Yet on Thursday, enrollment weekly unemployment fell slightly more than expected in the United States during the week to July 24, at 457 000 468 000 cons (revised) the previous week, said Thursday the Labor Department.

But the Fed Beige Book released Wednesday evening has reported a recovery in global economy.But two of the twelve regional branches of the Fed said the pace of activity has slowed recently, Chicago and Atlanta, and two others have found a stable economic situation in Cleveland and Kansas City.

The primary appointment of the week is expected Friday with the first estimate of gross domestic product (GDP) which will attract the attention of investors.

Symantec picks

On the side of values, Visa (-4.32% to 71.93 U.S. dollars) yesterday issued a profit after the close of U.S. $ 716 million, or 96 cents per share, against 93 cents expected by analysts. The group's turnover is up 23% to $ 2 billion against $ 1.97 billion expected by analysts.

The publisher of Symantec Antivirus (-11.18% to 13.03 dollars) has announced an increase in its profit to 161 million dollars against 74 million last year.But the disappointment comes from the software storage management data that represent 36% of sales. The activity is down 5%. For the current quarter, the group revised downward its revenue were planning.

U.S. oil giant ExxonMobil (1% to 60.3 U.S. dollars) on Thursday posted a net profit nearly doubled on a year in the second quarter to 7.560 billion dollars, thanks to improved refining margins and higher prices hydrocarbons. Net income group share stood at 7.560 billion dollars against 3.950 billion a year earlier (+91%).

In contrast, Kellogg is sanctioned: -6.89% to 47.98 dollars. The U.S. food group said on Thursday doing worse than expected for the second quarter of 2010 due to the weakness of the grain market and declining sales of its Eggo brand.The Group's net profit fell 15% to 302 million dollars. Net sales declined 5% to 3.1 billion dollars.

Also severely punished: Colgate Palmolive (-6.74% to 78.12 dollars) with worldwide sales rose 2% to 3.81 billion dollars. Prices rose 0.5% globally, with a negative effect of exchange rate fluctuations, the company said in a statement. Its net profit grew 7% in the second quarter of 2010, to 603 million.

Goodyear Tire & Rubber Co. (-5.77% to 11.26 dollars) reported better than expected quarterly results Thursday in favor of growing its revenue and earnings generated by its business in North America , thus raising its stock exchange.The leading U.S. manufacturer of tires reported a second quarter net income of $ 28 million (21 million euros), or 11 cents per share, against a net loss of $ 221 million a year ago ( 92 cents per share).

For its part, the selling group in U.S. online Amazon (-0.23%% to 116.86 dollars) has launched two new models of its Kindle reading shelf.

Always on the side of values, the car rental company Avis (7.22% to 11.88 dollars) amounted Wednesday its bid for rival Dollar Thrifty, with 13.4% more than Hertz, 1.33 billion in cash and stock, hoping to cut short the agreement between Hertz and Dollar in April.

Also note, Chris Viehbacher boss Sanofi Aventis (-0.54% to 29.31 dollars) has confirmed that group continued to explore possible "small or medium-sized" acquisitions.He declined to comment on rumors about the interests of U.S. biotech group Genzyme. Earlier in the morning, sources cited by Reuters said that the laboratory intends to make a formal offer on Genzyme after the failure of his informal approach on U.S. biotech specializing in the treatment of orphan diseases.

According to Bloomberg, the board of Sanofi has authorized management to offer up to $ 70 per share, an offer that values Genzyme $ 18.7 billion.

Meeting Monday in Washington, the directors of the International Monetary Fund (IMF) has called on China to rebalance its growth. It is now driven by exports and investment, and little by domestic demand. Even if the consumption figures were revised upwards for 2009, growth in domestic demand remains a key challenge for the government, with control of inflation in property prices. In this regard, the IMF welcomes the measures taken by Beijing and noted that "additional measures may be needed to address this problem at its root.

Some members of the IMF estimate that a stronger currency would help China to rebalance its growth, expected by the institution in 2010 to 10.5% and 9.6% in 2011. Economists have however been divided on the issue of undervaluation of the yuan.In fact, six weeks after announcing the easing of exchange rate policy, China continues to monitor closely the movements of its currency, which gained less than 1% against the greenback.

The end of the docking of the renminbi to the dollar opened, at least, the prospects in Shanghai as an international financial center potential. Guangdong Development Bank, based in Canton, bet on this option and will move its bond traders and exchange rate regime in the economic capital of China.

The Paris Bourse ended the session on Monday in the green: +0.8% to 3635.86 points after having doubted almost the entire session. The CAC 40 was indeed long hesitation on the way forward following the release Friday of "stress tests" conducted on 91 European banks and published Friday after the stock market. Only seven institutions have failed, which means a respectable success rate of 92%. However, 17 banks post notes just averages. What a cool little enthusiasm.

Finally, Paris has chosen the rise. Like Wall Street, Friday, which had been optimistic, although Asian markets were more hesitant.

No macroeconomic indicator was expected in Europe.But the United States, sales of new houses in the U.S. rebounded more than expected in June, from 23.6% in May after hitting their lowest level since 1963 at least, but still extremely low, according to official figures released Monday in Washington. The news bolstered Wall Street upwards.

As for currencies, the euro climbed slightly against the dollar: + 0.53% to 1.2980 dollar.

Featured Banks

Who says interpretation of "stress tests", said reaction of the banking sector. At the Paris Bourse, the French banks took off and pulled the score up: +7.75% Dexia, 5.24% for Societe Generale, 3.12% for Credit Agricole, 2.37% for BNP Paribas and 1.91% for Axa.For the Minister of Economy Christine Lagarde, have no fear: French banks have succeeded in "this difficult test with flying colors, with honors.

The car values have also boosted the index: 1.65% for Peugeot, 1.58% and 1.28% for Michelin for Renault.

In red lantern ACC, a troucve STMicroelectronics: 2.34% to 6.34 euros.

Sanofi-Aventis lowered its earnings forecast for 2010

Sanofi Aventis (+0.16% to € 45.58) announced Friday that the first generic version of the anticoagulant Lovenox has been approved by the Food and Drug Administration (FDA). The supply of the generic, marketed by Sandoz in association with the American company Momenta began in the wake of the approval by the FDA.The news had tumbled 4.25% securities at the close Friday because the Lovenox was the second top-selling drug from Sanofi last year. In a statement, Sanofi-Aventis recalls his "reservations" about the approval by the FDA in regard to "patient safety".

The pharmaceutical group revises accordingly its earnings forecast downward, with "an evolution of the EPS of activities for 2010 of between 0% and -4% compared to 2009 at constant exchange rates. A turnaround from last April when Sanofi evoked a growth in earnings per share from between 2% and 5%.In addition, Sanofi would have views of the U.S. biotech Genzyme after the Wall Street Journal.

Fimalac (0.95% to 31.29 euros) on Friday issued after the market closes up its turnover by 6.9% to 443.2 million euros in the first nine months of its 2009-2010 ended September 30.

April Group (1.73%) and Faiveley (-0.29%) publish their turnover in the first half after the stock market. Icade (1.84%) and Klépierre (+0.6%) at the same time unveil their interim results.

The CAC 40 is a little break after a meeting at which bounce saw the benchmark index of Paris close to over 3%. On Friday, the markets begin the session on a slight decline from 0.13% to 3595.66 points. The waiting game surrounding the publication of results of stress tests of European banks is felt. Already, the euro back a bit against the dollar at 1.2889 dollars around 9:00.

Yesterday, U.S. markets have done a great meeting Thursday at which time the Dow has gained almost 2%. U.S. markets relatively insensitive to the announcement of a surprise increase in weekly unemployment registrations have been worn by the overall business results above consensus.

In terms of macroeconomic statistics, the session looks very calm.No major indicator is expected in the United States.

In France, the French household consumption of manufactured goods fell 1.4% in June after the previous month was supported by purchases of televisions before the World Cup, according to figures published by INSEE before the opening markets. Throughout the second quarter, it shows a decrease of 0.9% after falling 1.9% on the first three months of the year. Analysts on average expected a rise of 0.2% in June

The Germans will unveil their Ifo business climate.

TF1 reviewing its objectives to increase

The stress test, however, occupy the banking sector.BNP Paribas, Societe Generale, Credit Agricole, Natixis (BPCE) or Dexia should respond.

Moreover, the markets will again this session to analyze several quarterly publications:

TF1 announced before market sales ad up 11% in the first semester for a total turnover of 1.28 billion euros, above the consensus. Net income group share was 74 million euros over the period. The objectives are significantly revised upward with a turnover in 2010 rose by 7% instead of 4%.

STMicroelectronics reported Thursday a profit above expectations at 18 cents per share with a turnover up 27% to 2.53 billion. Analysts on average expected a profit of 14 cents per share and a turnover of 2.513 billion dollars.

Pernod Ricard noted Thursday its annual forecast for operating profit thanks to the improved economic environment and its position in emerging markets. Its turnover in 2009-2010 emerged, up 2% on a comparable basis.

Ubisoft has released a turnover up 94% in the first quarter of 2010-2011, to 161 million euros and confirmed its objective of a provisional turnover of 160 million for the remainder of the year.

BioAlliance Pharma has announced a record turnover of 15.2 million euros in the second quarter against 1.5 million a year earlier, after recording in April in the United States Loramyc, light treatment of fungal infections of the mouth patients with cancer or AIDS.

As for ads, Alstom said it had won contracts valued at about 450 million euros for the construction of two units for a combined cycle power plant India.

Legrand announced Thursday a takeover offer for Indo Asian Switchgear India, where he produced nearly 4% of its annual turnover after the acquisition. Indo Asian Switchgea aims for 2010 sales of more than 35 million euros.

Maurel and Prom announced Thursday it had increased to approximately 70 million euros the amount of its issuance of Oceanes five years following the year's total allotment option.

Pernod Ricard has raised its annual forecast for Thursday operating profit due to improved economic conditions. The group of wines and spirits brands owner Ricard, Absolut, Havana Club, said in a statement that its sales showed a growth of 2% at constant exchange during the year ended June 30

Pernod Ricard said however that "given a negative foreign exchange impact of approximately -1% (turned positive in the second half) and a perimeter effect of -3%, primarily related to sales of brand Wild Turkey and Tia Maria, 2009-2010 turnover was slightly down -2%.

He added: "The year was marked by an economic improvement over that of last year, especially during the second half. Pernod Ricard has continued to benefit from its broad portfolio of premium brands. "

Turnover increased by 9% at constant scope and exchange in the second half, with growth estimated at 3% in the fourth quarter alone. Pernod Ricard said that Asia and Latin America are "remained very dynamic." The improvement trend continued in Eastern Europe, the United States and Duty Free markets. The activity continued to decline overall in western Europe (particularly Spain and the United Kingdom, and more recently in Greece). "

For the full year, the company is now targeting organic growth in operating profit of between 3% and 4%, while it expects an increase of 3% previously.

The turnover and the final results of 2009-2010 will be published Sept. 2.

The use of frames is better. The worst is over. According to the barometer of Apec, 52% of companies surveyed have recruited at least one frame in the second quarter. Five points higher than last year. 43% of companies say they will recruit in the third quarter, eight points higher than the third quarter of 2009. "The results this quarter are at a level close to the situation two years ago," wrote the experts from APEC. Computer science, engineering and business services accounted for this improvement. In the first two sectors, more than half of companies recruit more than a year ago.

However, the situation remains difficult in construction where the recruitment of three companies in four are stable or declining.

Good news for graduates: improving the recruitment forecasts for the first time since the crisis began in 2008. According to APEC, 38% of companies want to hire youth in the third quarter. Four points higher than a year ago. A quarter of managers hired since the beginning of the year are young graduates. For cons, the elderly have always struggled to attract employers. Managers with more than twenty years of experience represent only 9% of new hires.

The crisis has reduced the mobility of executives in 2009

On the ground of appeal as that of growth, France is doing "less bad" than its main competitors. It is the belief of the French Agency for International Investment (AFII), which on Monday published its panel's attractiveness in 2010, in collaboration with the Center for Strategic Analysis (CAS), Treasury and Datar. While foreign direct investment last year saw a decline of 41% in developed countries, they have fallen "only" 35% in France.

The Hexagon's interest to maintain this advantage: the French subsidiaries of foreign groups provide more than 2.5 million jobs, 20% of R & D and almost 40% of these exports are linked to foreign establishments.And since 2007, when the crisis was suffering its effects, new investment decisions by foreign companies will be permitted to "maintain or create approximately 30,000 jobs" each year.

"Beware the gap between what the economic data and leave out the perception of foreign investors," said Monday David Appia, president of the AFII. This paper attempts to twist the particular blow to conventional wisdom: that France would not fiscally attractive to businesses. "People often think that taxation in France is a weak point but in reality the situation is more complex," said Director General of CAS, Vincent Chriqui No fax payday advance.It must be determined "globally", argue the AFII and CAS.

"Strong signals"

The tax can not be reduced to the corporate tax (IS). "The effective tax burden on enterprises in France is much lower than the nominal rate of the SI would suggest," says the report. It must also consider the tax base and exemptions. Ultimately, if we look at the revenue of the IS reported to EBITDA, "France is in a better position, with a tax rate of approximately 17% of profits." Dietary improvements reserved for impatriate removing the ceiling of the research tax credit – now "the strongest incentive to Europe" – and the removal of business tax on productive investments also "sent a strong signal towards investors foreigners.

More generally, France is ranked fifth in the world for business location costs (employment, installation, transportation, taxes, equipment and energy) and one in Europe, the document stresses the AFII, which compiles data and existing rankings, making comparisons between France and eleven other neighboring countries.

… No need to tape to deal with the default antenna of the iPhone 4. Apple has another solution. His boss, Steve Jobs, under fire from critics, spoke Friday night from Cupertino, California to restore the credibility of the company. To begin, he conceded that his group was "not perfect". He then unveiled the solution to solve the problem of signal loss when the hand covers the bottom left of the iPhone. The solution? A simple plastic case and rubber will be offered to owners of Apple's new smartphone. Better, this case, which costs $ 29 in trade, will be refunded to those that have already bought one. And if all this were not enough for dissatisfied customers, they could also make their free iPhone 4 in stores.

If customers are reassured, investors too. The Apple stock has returned to the green.For financiers feared that Apple chooses instead to conduct a recall of 3,000,000 iPhones already sold since the launch on June 24 It must be said that such an option would cost around 1.5 billion dollars to the firm at the apple instead of 45 million cases for the "magic".

Verdict reassuring

The American magazine Consumer Product tested the case in question this week in the laboratory and concluded that this solution was acceptable. The "bible" of consumers who had inflicted the fatal blow to Apple last Monday discouraging consumers to buy the iPhone 4, returned a verdict for Apple reassuring."When we gave the case and put our finger on the rubber part where it covers the gap (problem), resulting in a significant loss of reception, so small as to have no effect on the receipt, "says the magazine.

The New York Times suggests that it is not a simple problem of antenna and metal frame, but communication software. Citing an unnamed source familiar with the matter, the newspaper said that the iPhone has four public discovers a defect inherent in all of its predecessors."The problems occurred in the complex interplay between communications software and antenna," the source said, adding that it could be solved with a software update and that Steve Jobs was not aware of this problem before the launch of the device in late June.

Reputation tarnished

This failure has nothing to do with the error display signal reception originally put forward by Apple as the cause of the problem of the antenna and set this week.

Still, the reputation of Apple and its founder is seriously tarnished by this affair. Especially since Steve Jobs, who initially denied the failure of his latest "toy" had long been aware of the situation but have decided to ignore the recommendations of its engineers, as he liked the new design, according to Bloomberg . What the person denies.Sin of pride? Consumers expecting at least Friday a little humility on his part.

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European shares are sharpening their weapons. In an interview with La Tribune, the owner of the London Stock Exchange (LSE) Xavier Rolet reacted to the opening of NYSE Euronext a new trading platform in London. Called "NYSE Euronext London," this new market to attract foreign listings.

"Expanding our presence on the continent"

Xavier Rollet, the French who took the head of the London Stock Exchange last May, said he was surprised by this operation. His response was quick: "We have made different choices and work network rather than concentrating all our activity on a single data center," he explains to La Tribune.He added: "We do not exclude also not to extend our presence on the continent, opening new centers, data processing, to the extent that we would welcome, of course."

The boss said the LSE and the LSE would be "delighted [s] to offer [his] office to launch an electronic bond platform in Paris, provided that we welcome."

A "coup de grace for the Paris Bourse

In the Financial Times, Xavier Rollet described the strategy of NYSE Euronext's coup de grace for Paris, "providing" a significant problem for the French government " Payday Loan for Bad Credit. NYSE Euronext's strategy is not, according to him "a question of product 'but is rather a strong interest in the British capital.He also points out that his rival has already transferred its data center in suburban London. But Paris, says the British daily, remains the headquarters of NYSE Technologies and the place where NYSE Euronext intends to develop its own clearing house.

In addition, the Financial Times reveals that the LSE prepares an offensive on the derivatives market. Rollet Xavier Charter calls for an opening to competition of the market where it wants to position itself within nine months.

The London Stock Exchange on Wednesday posted a slight sales increase of 1% between April and June 2010 to 158.2 million pounds (189.5 million euros). Over the same period, total revenue rose 2% to 166 million pounds (198.8 million euros).