The fear of a slowing Chinese economy weigh on Asian stock markets. On Tuesday, the day after a session, however encouraging, the Hang Seng Index in Hong Kong and Shanghai Composite Index unleash respectively 3.52% and 1.52 points to 18,209.70% to 2403.32 points. Investors react to the publication of a slowdown in Chinese growth to 9.1% in the third quarter, against 9.7% and 9.5% in the first and second quarters.After this bad figure, other regional financial centers are also displayed down: the Nikkei of the Tokyo Stock Exchange lost 1.55% to 8741.91 points, the Kospi index in Seoul fell by 1.51% to 1837.01 points, the S & P / ASX 200 Index yields 2.07% at Sydney 4186.90 points, the BSE Sensex 30 in Mumbai plaice 1.73% to 16,730.10 points and the FTSE Straits Times of Singapore gives up 1.81% to 2728 , 55 points.

"Economic growth is currently facing a more complicated on both external and internal plans," said the spokesman for the National Bureau of Statistics (NBS), Sheng Laiyun commenting on the growth of China. In fact, Chinese exporters are beginning to suffer from particular sovereign debt crisis in Europe, their largest market, a difficult economic situation in the United States.The Chinese economy is also impacted by rising wages and strong yuan, has appreciated by 7% in a year against the dollar. "The number of factors of instability and uncertainty increases," says Sheng Laiyun.

The concern weighing on Europe

In this context, the correct figures for China's industrial production have gone unnoticed. This has increased by 13.8% in September year on year, according to BNS.

In addition, concerns about the debt crisis in Europe grew yesterday and weigh Surles markets payday loan lenders. The German Minister of Economics Wolfgang Schäuble has indeed warned that the EU summit to be held in Brussels Sunday will not lead to a definitive solution to the debt crisis. And, while the central bankers of the euro zone had promised a response "comprehensive and lasting peace" to the crisis at the G20 finance this weekend in Paris.

China Eastern Airlines to Hong Kong and Tepco

On the corporate side, China Eastern Airlines (-9.82% to 2.57 Hong Kong dollars) on Monday announced an agreement to acquire 15 Airbus A330 family for a selected list price of $ 2.5 billion, for delivery between 2013 and 2015.

The action of the firm Olympus camera dropped by a further 8.87% to 1.417 yen to the Tokyo Stock Exchange, bringing to 43% since the sudden collapse of his dismissal Friday of its British CEO accused of mismanagement President Honorary Japanese company.

Note that Tepco, the operator of the nuclear accident in Fukushima, yields 1.38% in Tokyo, after asking the first tranche of public assistance of some 700 billion yen (6.7 billion euros) for finance part of the compensation of victims, according to Japanese media on Tuesday.

On the front of currencies, the euro rose 0.28% to 1.377 dollars on Tuesday. Oil is meanwhile down in Asia after the confirmation of a slowdown in Chinese growth in the third quarter against a backdrop of skepticism about a speedy resolution of sovereign debt crisis in the euro area. The barrel of "light sweet crude" for delivery in November, up in the early electronic trading, lost 9 cents to 86.29 dollars, around 6:00.

After the events of spring Arab countries that have stirred strong tourism such as Tunisia and Egypt, it is time to first results. As part of the Institute of Economic Forecasting of the Mediterranean world (IPEMED) led by Jean-Louis Guigou, the Mediterranean Travel Association (Meta) published assessments that it may take a little balm to the heart of tourism professionals present in this region.

"The attendance figures, down in the first eight months of from 40 to 50% from a year 2010 already bad, should be better in the second half of the year," said Stephen Pauchant, president of the Meta. According to his calculations, the outlook for 2011 should reflect a fall of 15% of international tourist arrivals (27.3 million) in the area between Morocco and Egypt.However, for the entire perimeter of the Mediterranean, Stephen Pauchant expects an increase of about 2.17%.

The sense of security is "acceptable"

The price reductions, promotional campaigns, the arrival of new customers came from Eastern Europe and Asia do not explain everything: the sense of security has improved in these countries bad credit payday advance. Probing of tourists, the institute noted that TravelSat indices had improved. "Now the feeling of security is considered" acceptable "," said Olivier Henry-Biabaud, president of TravelSat, the index is comparable to some European capitals during a short stay because the stress of city life can be important ".

The fact that in Tunisia, during the Arab spring, no hotels have been attacked, no tourist was concerned, adds to the perception of safety.Important source of foreign exchange, tourism is expected to return in the long term growth. "The tragedies of past attacks demonstrate that the concept of resilience is strongly rooted in these countries, says Maxime Weigert, expert on tourism in IPEMED. Not only tourists return after tragedies such as that of Luxor in 1997 (58 tourists killed), but the learning curve reaches the same level as if nothing had happened. "

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Lefigaro.fr – The Mouth of Employment, Dominique Cros documentary, highlights humiliating recruitment practices. Is this common?

Geraldine Rieucau – No, of course. Recruiters are not disrespectful majority of candidates. Otherwise, they failed to provide proper offers. As everywhere, there are good and bad recruiters. But even if we should not generalize, this documentary is still evidence of practices that exist: infantilization of candidates, the will to destabilize the discrimination of certain profile, a contempt for the job seeker is attitudes that we observe, more and more.

Why?

There is always a balance of power between the recruiter and the candidate. The nature of recruitment created an inequality between the two parties. But several factors have increased the imbalance.The economic crisis first, which has intensified competition among candidates, and allows the recruiter to demand more from them.

And then for various reasons, recruiters are placing more and more importance to the personality of the candidates, so that this criterion sometimes takes precedence over qualifications and skills. And the grounds to see how a candidate is resistant to pressure, some were quick to destabilize or to make uncomfortable.

Consequence of these two factors, the motivation of the applicant has become an essential criterion payday advance low fees. But behind this concept, what the recruiter wants to know is whether it will be often enough finally available and ready to work overtime, etc..

Recruitment firms are more they implement these bad practices?

No, I do not think so. An employer, an HR department is just as likely to skid.But it is true that firms, whose service is costly, are often called upon to fill management positions in CDI. The recruiter will then spend more tests, more pre-select candidates … But be aware that less than 3% of hires are made via a recruitment agency. Conversely, 40% are the result of an unsolicited application.

The discourse on the fight against discrimination mean in reality?

For 10 years, recruiters are clearly more careful not to discriminate on criteria visible. But there are forms of indirect discrimination that persist and are very difficult to control. When an employer requires its future employee lives near his work, for example.

Overall, large firms have more ways to avoid discrimination.This often led to further standardize recruitment, to centralize procedures. The human resources sector has benefited: the U.S. example, the size of the sector and the influence of RH increased sharply with the policies of "Equal Opportunities".

The government, which this Tuesday the draft budget law for 2012, based his entire equation on a growth forecast of 1.75% for next year-until last August, he hoped it would reach 2.25 %. Despite the turbulence of increasingly stringent in Europe, Bercy firmly believes this new hypothesis.

Recently the Minister of Economy Baroin claimed to have "serious reasons to consider it achievable," while his colleague Valerie Pécresse Budget also reaffirmed Sunday that the government's projections were "conservative and realistic."

Yet, scenarios and expert succession, one after the other, come to doubt the probability of the hypothesis-government.Monday is the Institute of COE-Rexecode conditions that drive the point home: it provides a GDP growth of 1.7% in 2011 and 1.2% in 2012-exactly the consensus of economists. Or acceleration or slowdown: after the air hole last spring, COE-Rexecode see activity continue on a pace soft below the trend between 2001 and 2007.

Monitor the distribution of credit

"We do not retain perspective as the most likely scenario that the recessive stock markets seem to play for Europe," says Institute (close to employers), chaired by Michel Didier.But further, he warns, watch in the coming months "the impact on the lending of a possible increase in the cost of bank refinancing and even more difficult access to liquidity," and that "the downward revision of investment programs that entrepreneurs may have to perform under extra care" against the current deterioration of the environment.

COE-Rexecode also cautions that its expectations are based on "the assumption that the interventions of the ECB and the introduction of means of the European Financial Stability manage to break the downward spiral of financial markets and to avoid the contagion of Other States in the euro area and the banking system. "

In this context, reduction of public deficits "is a priority," but "to limit the short-term impact on growth and raise potential growth, cost savings are preferable to increase the tax burden," insists the Institute. Issue of competitiveness.

Reduce the "gap" of 95.7 billion euros of state will take time. Further action on pensions would give the impression that the reform of 2010 was insufficient. And the government did not hand over the finances of local governments. To give a visible signal of declining deficits before the presidential election, the government has a priority: Medicare. The hole is "halved between 2010 and 2012," has already promised the Minister of Budget and Public Accounts, Valérie Pécresse. This should reduce it to less than 6 billion euros.

To do so, Medicare will benefit from additional revenue: it will recover much of the 10 billion of additional levies announced in late August, by François Fillon. But it will also make an effort on his expenses.The aim will be to contain their rising to 2.8% (against 2.9% this year), which means 2.2 billion savings from the spontaneous progression.

The distribution of these savings will be presented Thursday by the government, which unveiled the outline of the proposed 2012 budget of Social Security, along with the latest forecasts of deficit, which is less than 18 billion euros for 2011. It's the drug industry that should be first put to use.

Price reductions, which in recent years revolved around 500 million euros a year, this year will be closer to 650-700 million, according to notifications sent to laboratories already. The delisting will be added.

Whereas in the past it was often compromised, including inventing a "orange sticker" reimbursed by the social security 15%, the government should not hesitate this time to completely delisted drugs ineffective quick guaranteed personal loans.

The warning laboratories

Mediator since the affair, the French no longer have absolute faith in drugs, which should make it less difficult such a measure. Benefit Schedule: as price reductions, the exclusions from reimbursement are also savings in complementary, as they also leave the drugs in question from the list of products they support.Now the government wants reconciliation with the complementary, after having inflicted one billion euros in additional tax.

Leem, the association of laboratories and underlines that these measures in 2012 will coincide with the expiration of many patents, according to his representative estimates 1.2 billion in sales, against an average of 700 to 800 million the previous year.Add to this bill on the drug prepared by the Minister Xavier Bertrand after the scandal of the Mediator, Leem fear next year an unprecedented decline-of-sales of the pharmaceutical industry, which could reach a % or 2%.

In addition, samples should increase: for, an increase in the special tax on the turnover of laboratories (currently set at 1%, it could return to its former level, or 1.7%) and contribute indirectly to fund new training for doctors, via the state.

Leem warned against further reductions, particularly among sales representatives, and against a "climate of distrust" that would push the major international laboratories to prefer other countries to invest in research or production.

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Nicolas Sarkozy and Angela Merkel arrived in the morning Thursday in Brussels after a marathon negotiation began in Berlin late Thursday afternoon and was to end in the Belgian capital in the evening. Wednesday evening between Angela Merkel and Nicolas Sarkozy, an agreement was set with the EU Presidency of Herman Von Rumpoy was then allowed to leak the outline in the morning, causing a positive market.

"Stock markets have been reassured by the existence of an agreement between Berlin, Paris and the ECB," says a close friend of Nicolas Sarkozy. The working meeting between Sarkozy and Merkel – "seven hours without interruption," according to the entourage of the head of state – was not enough to win the unconditional adherence of the fifteen other members of the euro area. "Many arrived without having in mind the highly technical aspects of this case. It took a lot to explain.Everyone wanted to be sure you understand the mechanisms involved, "said a relative of the head of state. Despite negotiating a lot longer than expected, counselors diplomatic head of state felt to hold the right end on Thursday night. "This agreement is a strong political message, for two reasons: it reaffirms the determination of the euro area does not drop Greece, and overhaul the European Stabilisation Fund, giving an additional area of ​​intervention" , we summarized in the entourage of the Head of State, on the sidelines of the meeting.

Over economic governance

Forced to stay away from microphones and cameras so as not to upset her "friend Angela," Nicolas Sarkozy has continued to play the conciliator between the requirements of the European Central Bank and those of Berlin, a role of "critical" that greeted elsewhere Yesterday a French banker."Angela is always careful not to get caught up too far," says Nicolas Sarkozy often. "It is more tactician, it is more a strategist," said one of his advisers. Strategist, the head of state to be tried since the beginning of the second Greek crisis, reaffirming the need for a strong political gesture in favor of a higher degree of integration of European economic policies. "This is the landing point from the beginning," says a consultant. If Angela Merkel wants to put Europe at the German time, imposing fiscal discipline, Nicolas Sarkozy intends to Chancellor at the time French, into accepting more economic governance. Seen from Paris, the summit held Thursday crossed then a further step towards integration and convergence of European economies."For several months, France blew up the clause of the Lisbon Treaty, which prohibited the bailout of a failed state. This allowed us to intervene in Greece, Portugal, Ireland. She obtained the creation of a European background stabilization, and modification of the Stability Pact, adding a preventive and a macro component. Without this component, Ireland could not have been brought to heel. Finally, we pushed for the creation of a pact for the euro convergence and competitiveness, "says a close adviser to the president to measure progress. "All this was unimaginable a year ago," he says.

It is not far from the "loss of face." The misfortunes of the new high speed train from Beijing to Shanghai are doing good laugh from all over China, while the press is unleashed and the authorities are trying to limit the damage. It must be said that it was promoted as a symbol of the Chinese railway resounding success, ready to go to conquer the world. But the beginnings are disastrous.

Last week, the train fell down several times. Internet forums and newspapers are full of stories telling outraged passengers have found in open country, stranded in trains closed and sweating profusely in the searing heat of summer. The Ministry of Railways had promised Friday that these problems would be "resolved" expeditiously. His spokesman, Wang Yongping, presented "excuses".And recognized that the line had seen "dozens of power outages" and a host of other "problems". The summer storms are largely responsible.

This iconic TGV line was opened with great fanfare on June 30, very proudly with "a year ahead" and, just as symbolically, the day before the 90th anniversary of the Communist Party. It was presented as the flagship of the newly high-tech controlled by China, and one of his arms out to conquer the world. Premier Wen Jiabao, said the line "operational" in Beijing before boarding for the first trip to the South. This train will link the two major Chinese cities 1300 km apart in less than five hours. The construction of the line has cost 23 billion euros.In March, the audit office of the state showed that 187 million yuan (20 million) had been diverted from the site by individuals or companies.

Massive rail projects

Chinese railway projects are enormous. In 2009, it was announced that 42 high-speed lines were planned for 2012, for an investment of 210 billion euros. China has the network of its kind in the world's largest, with more than 8000 km of track, and she wants to extend it to 25,000 kilometers by 2015 and 50,000 km in 2020. This year, like last year, Beijing is expected to invest 70 billion euros. Since the end of 2009, the "fastest train in the world" flows 350 km / h between Guangzhou and Wuhan. And last December, China announced proudly beating the world speed record with an oar unchanged at 486.1 km / h.But many voices cast doubt on the economic viability of some lines, less strategic than between Beijing and Shanghai. In February, the authorities decided to reduce the speed of TGV Chinese, for purposes of economy and to improve their safety. And the dramatic dismissal for corruption of the Minister of Railways Liu Zhijun, also in February, has revived speculation about a slowdown in rail projects.

Meanwhile, it is the airlines are rubbing their hands. They were sentenced say – almost – on the route from Beijing to Shanghai. The price of a one-way train range from 410 yuan (44 euros) and 1,750 yuan (190 euros), according to three classes, against about 1,300 yuan (140 euros) for a plane ticket in economy class.The airlines had already begun to lower their prices, with discounts up to 65% in response to the competition ground. They should slow down the movement …

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Barack Obama sought Monday to change the tone of the negotiations on reducing the budget deficit. "I am ready to face criticism from Democrats for an agreement that allows to raise the debt ceiling," said Monday the president of the United States, before resuming discussions with congressional leaders have fallen into the impasse. "We will reach agreement before August 2," promised the president at a press conference.

Placing himself as an arbiter between the two factions partisan, Barack Obama said: "The Republicans are going to have to compromise, as the Democrats." He hoped that the negotiations continue "all day", "until a solution is found."

Their challenge is twofold. The first is to adopt a compromise that reduces the medium to long-term U.S. budget deficits.But the compromise also depends on the adoption by August 2 of a law that raises the ceiling for the debt of the United States. Otherwise, the U.S. Treasury would no longer issue the bonds needed to honor the debts of Uncle Sam was general such a defect of the United States would have catastrophic consequences for the entire global economy.

Avoiding tax increases

During the weekend negotiations have stalled or even declined. Democrats accuse Republicans of blocking any agreement by refusing the principle of tax increases. For their part, Republicans reject the approach proposed by Barack Obama on an ambitious four trillion dollars in savings over ten years.They are rather a compromise of around 2 trillion, thinking to keep their campaign promise to block any tax increase.

To complicate matters, the elected Democrats have their doubts about the path traced by the White House. Barack Obama asks them, in fact, painful concessions in the form of savings in programs popular pension and health care. Yet the Democrats do not want to pay the price in the November 2012 legislative concessions that make a great historical compromise personal serving the cause of Barack Obama but not his party.In addition, the recent rise in unemployment leads them to reconsider their promise to reduce government spending made a few weeks ago as part of negotiations led by the then vice president, Joe Biden.

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The World Trade Organization (WTO) condemned yesterday for China's restrictions on exports of raw materials. The complaint was filed in 2009 by the United States, the European Union and Mexico, who felt the measures taken by Beijing to limit its sales abroad discriminatory. The Middle Kingdom is, indeed, the world's largest producer of gold, iron, lead, manganese, phosphates, and many raw materials for industries worldwide.

The United States, including steel manufacturers complained of a drop in Chinese exports of bauxite, 102,346 tonnes in 2005 to 39 665 tonnes last year, welcomed a "significant victory". And Europe welcomed a "strong signal" against the "unfair restrictions."

China, which can still appeal, has seen its arguments based on the protection of the environment that leads to not want to happen too, swept away by the WTO. And most importantly, she finds herself in a very difficult position on another issue, that of "rare earth".

These lands, in fact some 17 metals essential for high-tech industries and armaments, is the challenge of a global battle. The Chinese, who have 36% of the world, ahead of the Russians (22%), Americans (13%) and Australians (5%), in fact, provide more than 95% of world production, about 120 000 tons per year.

REE under

This near-monopoly position allows China to make rain or shine on the market, including push up prices of rare earths, which jumped 300% since 2008.And, as with other raw materials at its disposal, it jealously control the export and continues to reduce its quota from year to year.

China justifies its position by saying that it does not deplete its resources and its own industrial need these minerals. She encourages other countries to produce more. But in the eyes of the United States, Europe and Japan, this policy is simply discriminatory.

For several months they threaten, again, to complain to the WTO, they have not already done so. The decision yesterday by the organization they now opens the door wide to attack. At the same time, they seek to secure their supplies with, including the stockpiling of reserves. The United States and Japan already have.Europe thinks, as she thought to recycle some waste electrical and electronic equipment.

Unless the real future of rare earth or in the bottom of the ocean. The Japanese have discovered in the Pacific samples suggesting that there would be considerable deposits, a thousand times greater than on land. A new El Dorado 80 to 100 billion tons, according to Japanese scientists. But must still be sure you can use them profitably.

Jumped 87% in one year. Pension fraud detected by the general pension scheme (CNAV) amounted to 47.5 million euros last year, against 25.4 million in 2009. Please note, this money does "only" 10 million "injury found" or fraud (the career resources, marital status …) resulting in the overpayments. However, this figure tripled in one year. Forty per cent of detected cases involved failure to report, 40% of false statements and 20% of false documents. CNAV refuses to say how she recovered from this amount.

The rest, ie the vast majority of money involved, is to "damages avoided", that is to say, money that would have been paid over the years (throughout retirement fraudsters) if the cheating had not been discovered.28 million euros' benefits in payment "and 9 million on" benefits not yet paid. " "That does not mean that there has been an explosion of fraud in a year, but simply that we detect most," said Peter Mayer, director of CNAV.

539 centenarians Algerian

The fund has, for three years, put the means to fight against fraud, decreed a "national priority" by the state. The dedicated staff represent 75 full-time, thirty cons in 2008. The budget has almost doubled to 4.9 million. Cost "more than offset by the 47.5 million earned on fraud." Peter Mayer took the opportunity to deny the existence of a multitude of centenarians 'fictitious' retired in Algeria. Contrary to the rumors that the Internet, they are only 539 centenarians CNAV a pension in that country.But the director confirms that the control is more difficult to perform outside of France, 1.2 million people living abroad receive a pension CNAV.

To verify that they are alive, the regime sent them several times a year a "certificate of existence" to return the signed and stamped by a local authority. To carry out spot checks, CNAV wishes enter into agreements with insurers approved by the local consulates. A test should be launched in September in Tunisia, where 31,000 retirees receiving pension CNAV.

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