Photographers, cameramen, and around 70 MPs, including several tenors Socialists (Francois Hollande, Jean-Marc Ayrault) belonging to other committees, however … The Social Affairs Committee of the Assembly, Eric Woerth who auditioned Tuesday, just after presenting his plan to reform pensions in Cabinet, had on Tuesday an unusually busy. She was visibly much at the media-political context and the importance of the bill to the agenda. The audience was also gradually scattered throughout the session … And if the Left has repeatedly expressed its disapproval loudly – a ruckus usually reserved for the Chamber – is inside the text she attacked.

The fate of the Pension Reserve Fund has attracted the most virulent attacks.Introduced by Lionel Jospin and supposed to help pass the peak of demographic imbalance between contributors and pensioners, beginning in 2020, the FRR will finally be used to offset deficits in coming years, pending the promised balance by the government in 2018. "Your reform is shortsighted, accused DSK.The holdup on the Pension Reserve Fund is to penalize future generations. "

PS She also found that the device "hardship" (starting at age 60 with full rate, subject to a disability of 20%) returned to "say people who are disabled or sick are entitled to be recognized invalid or sick. "

"A good balance"

Labour Minister regretted the "distortions" and recalled that this device, combined with the long careers (early departure for those who started working before age 18) should cover 100,000 people per year in 2015, a new retiree on about six.Earlier, Eric Woerth was held, in an interview Capital.fr that the threshold of 20% was a "good balance", seemingly closing the door to a significant change – and potentially costly – on this point.

Not a word left, however, to challenge the alignment of the contribution pensions of officials on that of private sector employees.

The majority, she has power, supporting a reform considered "essential," "urgent," "fair" and "effective". Jean-Luc Préel however, raised a question: "I have some doubts about the economic forecasts that seem optimistic," said the member of the New Center.

Meanwhile, unions have reaffirmed their opposition to the reform, gathered before the Ministry of Labour hundreds of activists, including Bernard Thibault (CGT), François Chérèque (CFDT), Alain Olive (UNSA) and Bernadette Groison (FSU).

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The decision does not surprise employees. According to union sources on Saturday, Total has initiated proceedings before the Tribunal de Grande Instance of Nanterre to challenge the decision of the Court of Appeal of Douai forcing it to reopen its Dunkirk refinery. The oil group has assigned Friday the employee representative bodies in order to ask the court not to restart the activity on the site.

Total wants a declaration that the information and consultation procedure has been "completed". And even if the court believes that the procedure was "initiated with delay", Total highlights the fact that "the employee representative bodies have been able to exercise all powers vested in them" and they have suffered "no harm".

"Their last cartridges"

For Philippe Wullens, Delegate South (majority site), this reaction was expected faxless cash advances. Management would have announced in June that it would form a further appeal against the decision of the Court of Appeal. According to Steward, the leaders of Total fired "one of their last cartridge." Roger Koskas, counsel employees, estimates that total attempts to circumvent the decision by the Court of Appeal of Douai. Beside him, his brother, Patrick Tillie declares itself "not too pessimistic."

The hearing will be held September 17. According to two lawyers, Total has so far done nothing to comply with the decision of the Court of Appeal, despite a daily fine of 100,000 euros. For the moment, neither the group nor his lawyers could not be reached.

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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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The offer of Atos Origin WorldPay should remain on the sidelines. The group has never officially confirmed his candidacy on redemption of the subsidiary systems of payment by Royal Bank of Scotland, is not among the three investment funds selected by the British bank, according to information from newspaper economy.

The software houses had yet been joint bid with investment firms CVC Capital Partners and Welch, Carson, Anderson & Stowe. In addition, the acquisition of Wordpay assessed by the press between 2 and 2.5 billion euros, would have Atos create synergies with its electronic payments Worldline subsidiary.

The list of contenders is long

But the list of contenders is long.Investment funds Clayton, Dubilier & Rice, Permira (associated with American Express), Advent International, Bain Capital and TPG or Canadian society Moneris Solutions payment systems had expressed interest in WorldPay. The price of the subsidiary of RBS has thus vanished, the paper suggests a proposal exceeds 4 billion euros, and the bids were the highest preference.

Another obstacle to the acquisition of Atos WordPay, SSII debt still stood at 139 million euros at end 2009. This impedes the French group to compete with investment funds. Especially that Thierry Breton, arrived at the head of the group November 16, 2008, has always said he was not overpaying for an acquisition issue.

An alliance with a fund is still possible

For now, the group opted for prudence.But he could return to the race if one of the three funds withheld wanted an alliance with an industrial partner, an option that remains open as the business daily.

The CAC 40 Opens Wednesday's session again on a decline. After a dramatic surge Monday and a break Tuesday, the Paris markets following the U.S. trend and Asia, that is to say on a bearish note, including a technical standpoint.

The markets have overreacted to the emergency plan Monday to the European Union, blew Tuesday, notably taking into account the economic difficulties of the Old Continent in the medium and long term are not resolved. In the first exchanges, the CAC 40 was down 0.75% to 3665.8 points.

Thus, the uncertainty takes over your life.However, markets hate uncertainty, particularly the euro remains under pressure against dollar propels gold higher: an ounce reached 1235 dollars in Hong Kong on Wednesday morning.

The key index in Paris also changing depending on the reaction of investors to the rain of macroeconomic publications in France, Europe and the United States. Many companies have released their quarterly revenue.

Torrent indices importance

In France, consumer prices rose 0.3% in April compared to March to receive an increase of 1.7% year on year, according to Insee.Another factor is the expected French industrial investment rose 6% in 2010 (against 5% previously).

However, French growth was revised in 2008 to 0.1% (against 0.3% previously announced) and in 2009 to -2.5% (-2.2% cons), while the GDP rose only 0.1% in the first quarter of 2010, according to a first estimate.

Furthermore, the current account deficit moved to France to 4.8 billion euros in France in March, after 3.5 billion in February, said Wednesday the Bank of France.Twelve-month cumulative current account deficit amounted to 40.6 billion euros in raw data.

In Britain, the unemployment rate in April will be unveiled, while Gordon Brown leaves his post as prime minister in favor of Conservative David Cameron.

In the euro area, the first estimate of GDP over the first three months of the year is included on all agendas investors.Industrial production in March for the sixteen countries with the single currency will also be scrutinized closely.

In the U.S., the news is also responsible macroeconomic Wednesday, including figures on external trade in March (1430) and the traditional weekly crude oil inventories (1630).

Vivendi largest increase in the CAC 40

Vivendi (1.03% to 18.1 euros) has issued a consolidated net profit of 598 million euros (+21.3%) and a turnover which rose by 6% to 6.9 billion Euro. The titles show the largest increase in the CAC 40 in front Lagardere (0.14%, to 27.95 euros).

Natixis confirmed its recovery. The company posted its third consecutive profitable quarter to 464 million euros, against a loss of about 1.8 billion euros in the same period last year.Its parent company, the group BPCE, publishes a quarterly net profit of around 1 billion euros. Natixis shares climbed 3.15% to 3.86 euros, or one of the best performances of the SBF 120.

For its part, Dexia said it earned 216 million euros in the first quarter, better than expected, but less than a year before. His exposure to the debt of Greece to 3.7 billion euros. In an interview with Le Figaro, Pierre Mariani, the CEO wants cautious for 2010.

Leading the SBF 120, Steria: turnover rose 2.9% at constant scope and exchange rates in the first quarter to 414.6 million euros for the group of services. The shares are 7%, 24.3 euros.

Just behind Ipsos (3% to ? 29.65) expressed confidence in his ability to resume in 2010 with sales growth and profit margins after a first quarter rebound in activity.

CNP Assurances (0.58%, to 62.7 euros) saw its net profit in the first quarter bend 2% a year. It has indeed reached 280 million euros in the first quarter for a turnover of 9.4 billion euros.

TF1 bends, Rexel fall

In TF1 (-2.63% to 12.94 euros), the advertising sales rebounded 13% in the first quarter. Chain foresees for 2010 a growth twice higher than expected turnover in favor of the integration of a TMC NT1.

Its parent company Bouygues (-0.53% to 34.42 euros) said Tuesday quarterly sales fell slightly, the growth activities of Telecom and TF1 was not enough to offset the decline in construction and Colas.

Telecom side, it is SFR and Bouygues Telecom who have hoisted the leading French telecom operators in the first quarter in terms of winning new subscribers in the fixed (ADSL), enjoying a particularly poor start to the year at France Telecom ( -0.25%, to 15.9 euros).

In addition, the telecom regulatory authority, Arcep said Tuesday that Free Mobile, Orange and SFR had applied for the two blocks of spectrum third generation mobile (3G) Residual now available in France .

NRJ Group (-0.27%, 7.5 euros) has announced a turnover down 1.7% in the first quarter, the combined effect of the decision of the musical and Cleopatra a media market remains timid.

For its part, Metropole TV (M6) tumbles 11%, to 17.84 euros.

Rexel fell 5.25% to 11.37 euros.The electrical equipment distributor issued a quarterly revenue of 2.7 billion euros, down 5.7% on an organic and an EBITA of EUR 109.3 million, up 33%.

Meetic climbs

Derichebourg announced Tuesday a 18% jump in net sales in the first half of 2009 to 2010 at constant perimeter and constant exchange rates due to strong growth in its environmental services industry.

Meetic (7%, to 20 euros) on Tuesday reported a 37.6% increase in its quarterly revenue, to 43.4 million euros and confirmed its growth target for pro-forma revenues of between 7 % and 10% for the full year 2010.

Finally, the Bollore Group said Tuesday have options to sell two thirds of its stake in Vallourec in May 2011 at a guaranteed price of 136 euros per share.The exit clause if Bollore exercised, would cover an amount of 267 million euros and represent a potential capital gain of 130 million euros.

Buyers are decidedly paradoxical. When asked about what they expect stores tomorrow, they respond primarily to 34%, they want an organization to save time and choose more quickly. According to the survey ViaVoice-Equipmag conducted among 1010 people, then they are 27% expect more user-friendly spaces, especially with those fashion shops incorporating these bars or cafes with a small library …). They seem torn between the quest for efficiency (less time lost in the shops) and the willingness to spend a pleasant and friendly.

The host and the board

Without hesitation, the respondents clearly prefer the home, advice and human contact for 62% of them as the main element that encourages them to buy magazine.Again, we find this search of human qualities in an age where technological progress is often accompanied by dehumanizing Fast Cash Without a hassle. Followed far behind the presentation of products (26%), failure to see the news (24%), awareness of brands offered (18%) and window (12%).

Launched premiere trade fair trade and distribution Equipmag be held in September in Paris, the poll will traders food for thought. In a slump, and while online commerce continues to nibble away market share, the traditional business's mission of "re-enchant the store."This does not, moreover, reflect on synergies with online distribution: this year the show will be held next Equipmag exhibition of e-commerce to enable visitors to go from one to another.

Groupe DANONE posted on Thursday its sales for the first quarter of 2010. It is up 7% to 3.978 billion euros, in line with the stated objectives. Growth was driven in a significant increase in volumes of 10.8% and a policy of falling prices (-3.8% on average).

The increase in turnover is true in all categories of product group. In "dairy products", the largest division at Danone, there is an increase in turnover of 7.6% over one year helped by Easter which is positioned earlier in the year. Waters, an increase of 2.3%, are drawn by the emerging countries. Infant nutrition has been a growth of 8.5% and medical nutrition, up 9.3%, is supported by an increase in volume and value.

Outlook 2010

The group expects economic conditions still fragile on the year.He said: "In this context, we continue to encourage the development of our categories, strengthening our competitive position and developing our brands." Concerning its objectives, Danone is still growing in sales of at least 5% with a stable operating margin compared to 2009.

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"Danone will not increase its prices in 2010