The free electron Arnaud Montebourg was appointed Minister of Productive Recovery, a new song for the important figure of the left wing of the Socialist Party. Arnaud Montebourg
Arnaud Montebourg, 49, was appointed minister of Adjustment Wednesday productive, a role he had foreshadowed a "tour de France plant" made in the name of Francois Hollande during the presidential campaign. It will be flanked by two junior ministers, Fleur Pellerin (SMEs, Innovation and Digital Economy) and Sylvia Pinel (Crafts, Trade and Tourism).
Born October 30, 1962 at Clamecy (Nièvre), that great admirer of Gambetta, son of a butcher and a professor in the Algerian origins, became known as a leading lawyer in battle against Alain Juppé in the case of his apartment the City of Paris in 1995.
Activist of the PS since 1981, elected deputy of Saone-et-Loire in 1997, this speaker is trying to clear facilities in vain, in 2001, full cohabitation, Jacques Chirac to appear before the High Court.
With Vincent Peillon, the fiery MP founded the New Socialist Party (NPS). Their current gets nearly 17% of the votes in Congress in Dijon in 2003, with a slogan: the Sixth Republic, and more power to Parliament.
Voting "no" to the European Constitution in 2005, it is close to Ségolène Royal, it hosts in September 2006 in the "Feast of the Rose" in his constituency.
Gala magazine publishes a portrait of this man with shoulder-length brown hair, thin and always elegant, titled "The Playboy of Ségolène" conversation pieces. Mr. Montebourg, claiming he was duped, assigns the magazine.
Invested candidate, Ségolène Royal is designated spokesman, but suspends the month: on Canal +, the new Minister of Productive Recovery was told that the only flaw of the socialist candidate was his companion, a … Francois Hollande. "We laughed with Ségolène", he relativizes years later.
Montebourg often attacked Francois Hollande, who owes him the nickname "Flanby". The deputy of Saone-et-Loire also spoke of "cowardice" about supporters of the "yes" to the European Constitution in 2005, before turning back at the express request of the then First Secretary.
Ardent opponent of multiple directorships, Montebourg becomes "believing but nonpracticing" by appearing at the cantonal elections in his department, which led him to the presidency of the General Council in 2008. In early 2011, he announced he will not seek a fourth term as an MP.
With primary theorist Olivier Ferrand (Terra Nova), the fiery MP Aubry threat to resign if he does not succeed in 2009 for organizing this new process. "I had my dress emerged avocado eaten by moths," he says. First secretary finally agreed.
Himself a candidate with a small team, Montebourg campaigned on the left wing, defending the "de-globalization" or, according to his many opponents, a neo-protectionism that dare not speak its name. Result: 17.2% of the vote. In December 2011, he created the stir by denouncing "a policy that Bismarck" Angela Merkel.
Happy white knight, he denounces the business federations PS Bouches-du-Rhone and Pas de Calais and demanded to DSK "apologize to all the left".
PS, some criticize this "preacher of morality," its "excesses in the attack." His third place in the primary, however, gives him the role of a kingmaker who choose to personally Francois Hollande. The presidential candidate will make his "special representative", in charge of a factory tour of France. He joins the transition services of a relative of Mr. Montebourg, Aquilino Morelle, now political adviser at the Elysée.
Separated father of two, Arnaud Montebourg is the companion of Audrey Pulvar journalist, with whom he filed a complaint for assault in the streets of Paris in March.
The insurance group Axa announced Friday a stable revenue for the first quarter of 2012 and said he hoped to have decided the fate of its private equity subsidiary, Axa Private Equity, of By the end of the year.
Axa has confirmed the end of September to have committed "a strategic review" for the national champion of private equity but talks with potential buyers seem to have since stalled. (And see)
"A priori the outcome and the results of this strategic review, it is hoped that this will be completed before the end of the year," said Chief Financial Officer Gerald Harlin at a conference call to discuss the indicators of activity of the group for the first three months of the year.
The fate of this subsidiary represents some economic issue for France, say some observers.
Axa Private Equity is indeed a major investor in the territory and its French base becomes even more desirable for new financial rules could scarce investment capital in companies.
The essential part of its business, the French insurance giant announced a turnover up 0.8% to 28.056 billion euros for the first quarter.
The growth in business damage (3.3% to 9.973 billion euros) offset the virtual stagnation of the life segment and Savings (-0.2% to 15.956 billion of euros) and a lower turnover in the management of assets (-9.6% to 827 million euros).
Gérald Harlin said these results were in line with the strategic plan for 2015 presented by Axa last year.
This plan would redeploy some capital to the group of high-growth markets and, more generally, to focus on margins and volumes.
The CFO also said that the situation in Greece and the euro area was creating a climate of "volatility" in financial markets but in Axa took full account.
"It positions itself especially on segments that are least sensitive (…). This is why we are fast growing activity on the protection, welfare," at he said.
He nevertheless admitted that the life insurance segment continued to suffer from macroeconomic conditions in Europe.
"We're in a world of low interest rates and are done with," he concluded.
E.ON, the first group of German utilities, announced Wednesday a quarterly sales better than expected, the good performance of trading and renewable energy production offset declines production related to the abandonment of nuclear power in Germany.
The group recorded a 28% increase in sales to 35.7 billion euros, higher than the 30.14 billion euros predicted by Thomson Reuters SmartEstimates.
The group said last week it had earnings before interest, tax, depreciation and amortization (EBITDA) of approximately 3.8 billion euros, and net current of about 1.7 billion.
"These figures are not spectacular, but they are good," said one trader. The action was reported up 0.9% in transactions before trading.
The turnover of the trading subsidiary of the group rose 37% to 27.5 billion euros while the production of renewable energy generated sales up 7% to 617 million.
Since the beginning of the year, as E.ON has lost over 6%, impacted partly by its heavy exposure to nuclear power, while its main competitor RWE gained 18%.
The likely thrust of extremist parties in Greece, which could jeopardize the plan of assistance given to countries, markets further alarm that victory in the presidential election of Francois Hollande. Its program in effect no longer perceived as a threat to investors. Unlike 1981, the arrival of the socialist candidate for the Elysee should however not destabilize markets, which first opened in Asia in mid-European night.
The likely thrust of extremist parties in Greece, which could jeopardize the plan of assistance given to countries, markets further alarm that victory in the presidential election of Francois Hollande, whose program is no longer perceived as a threat by investors . "The week promises to be high risk, but paradoxically Greece weigh maybe more in the balance as the French election," said Valerie Plagnol, director of research at Credit Suisse.
Unlike 1981, the arrival of the socialist candidate for the Elysee should however not destabilize markets, which first opened in Asia in mid-European night. The Paris Bourse certainly gives ground for several weeks, but this trend is common to all European financial centers, plagued by fears about the economy of the eurozone. And the cost of refinancing the public debt of France has not increased more between the two rounds of presidential elections.
No challenge to the Treaty on the financial stability
Paris has borrowed Thursday nearly 7.5 billion euros at rates down. "Mr. Holland should not undermine the Treaty on European financial stability, but rather add to it a component of growth. On this point, it is not alone in wishing that in Europe, which tends to reassure "said Ms. Plagnol.
Long reluctant, Berlin is ready to work to "a growth pact for more competitiveness," the German Foreign Minister Guido Westerwelle. President of the European Central Bank, Mario Draghi, would also give this theme "at the center of the agenda" European. Mr. Holland on Sunday evening could have an exchange on these topics with German Chancellor Angela Merkel, according to one of his advisers.
If revenues diverge, more tracks are already being considered: increase the borrowing capacity of the European Investment Bank (EIB), spend more European structural funds in the euro area, establish 'project bonds', the European bonds for a specific project, or authorize the European Stability Mechanism (MES) to help a struggling industry and not just a state.
For Laurence Boone, chief economist for Europe U.S. investment bank Merrill Lynch, BofA, the alternation in France does not worry because "investors expect to conduct a moderate social policy".
Greece in the heart of concerns with the rise of extremist parties
Greece, whose people voted on Sunday for early elections, however crystallizes much more concern. Both sides pro-austerity, PASOK (Socialist) and New Democracy (right), who ruled together in a coalition since November 2011 collapsed in parliamentary elections Sunday, bringing together between 31 and 37% against more 77% in 2009, according to exit polls.
If they were confirmed, this collapse would make almost impossible the formation of a coalition government by both parties to continue the austerity dictated by the European Union and the International Monetary Fund. "The country's creditors (IMF, EU and ECB) may at least temporarily suspend their aid," worries Stephane Deo at UBS. "The government can more quickly pay its civil servants and pensions, which will lead to very high tensions on financial markets," he warns.
In >>> Direct: Soon the results of the second round of the presidential election between Sarkozy and Holland
Standard & Poor's said Wednesday raising the rating to CCC from the Greek sovereign debt, which is no longer so in default, a decision no surprise since the country has reduced its liabilities by about a third after a debt restructuring complex and unprecedented.
S & P maintains this climate speculative grade ("junk") and warned that a deep recession, the unpredictable outcome of the elections on May 6 and wrath of public opinion against the austerity could threaten the efforts of Athens to redress its finances.
S & P, which matched the rating with a stable outlook, provides that Greek sovereign debt will remain high over the next three years, around 160 to 170% of GDP.
"The rating could be degraded if we believe that a forced exchange on what remains of the Greek private debt appears likely," the agency said in a statement.
Fitch was the first to recover the note by assigning a B-to Greece in the middle of March, after the establishment of the exchange procedure which reduced about 100 billion sovereign debt of the country and cost the private bondholders most of their assets.
S & P warned in February that it would report surely the Greek notes to CCC, upon completion of the exchange procedure.
Moody's is now the only agency to keep Greece in zone fault (likely in his case). She said it would review his notes "on time" but that any recovery would remain limited.
The German automaker Volkswagen said Thursday an operating profit increased in the first quarter to 3.2 billion euros against 2.9 billion euros a year earlier , thanks to record sales of vehicles.
This is an above analysts' forecasts, who on average expected a profit decline to 2.7 billion euros.
Around 8:10 GMT, action Volkswagen earned 4% to 131.25 euros, while the European sector index gained the automotive 1.6%.
The resumption of international trade should take place sooner than expected.
It's time for optimism for international trade. This is the conclusion of the study HSBC Global Connections: Trade Forecast (February 2012), which provides a faster growth of international trade from 2014, one year earlier than expected, according to previous analyzes. Between 2014 and 2026, world trade is expected to grow by 86%. Its annual growth is estimated at 3.8% until 2017, then mark a sharper acceleration beyond, with an annual growth of 6.2% from 2017 to 2021.
The biggest concern now trade oil, gas, petrochemical, automotive and electronic goods and equipment. But things are changing. With the threat of global warming and the demand for competitiveness, companies must now be closer to markets where they want to trade. This new situation allows to identify new growth areas. Here are the main:
– Electric power: all regions of the world are now seeking to develop non-fossil energy: nuclear, hydroelectric, solar, wind …
– Containers & Packaging: crates, boxes, and all objects to package and transport goods. This highly competitive industry is expected to grow particularly strong in America (nearly 10% annually over the next five years in Latin America and 8.9% in North America).
– Metallurgy: prepared binders for foundry. The annual growth forecast for this sector should be 8.8% in the next five years.
– Coal: coal and pellets. Demand is high worldwide, and especially in China which produces half the world's coal, but who is also the first consumer.
– Processed food: demand for more sophisticated food is high everywhere in the world.
– Electrical Control Systems: the development of new electrical power sources to the emergence of demand control systems and automatic control, especially in Asia, Europe and North America.
– Infrastructure: The sector is large, since the production of metal bars to the research services and consulting. This sector, vital for global economic growth, is expected to grow 110% in the next 15 years.
U.S. President again pleaded for taxation at 30% of annual revenues in excess of one million dollars. Rival in the White House, Republican Mitt Romney, is directly targeted: his fortune is estimated at between 190 and 250 million. U.S. President Barack Obama arrives at a rally in Florida on April 10
Barack Obama pleaded Tuesday for the "rule Buffett," a rebalancing of tax scales to charge more for the richest Americans, a way to embarrass the multimillionaire Mitt Romney, his likely opponent in the presidential election. "What hinders our entire economy is the growing gap between the super rich and everyone else," said the American president during a speech in Florida (Southeast), a crucial state on the electoral map for the presidential Nov. 6 where he is seeking a second four-year term.
"I ask you: what is the best way to strengthen our economy? Provide $ 150,000 in additional tax relief to every millionaire and billionaire? Or invest in education, research, health and our veterans? "said Obama at a university in the city of Boca Raton, facing an enthusiastic crowd, which chanted" four more years! " The president has defended the September 2011 "Buffett rule", the taxation at least 30% of annual revenues in excess of one million dollars. The chairman stressed that it is unfair that the multibillionaire Warren Buffett, are among the world's wealthiest people, is subject to a tax rate lower than his secretary employed, due to a tax code that taxes less capital income than labor. Warren Buffett himself has said he supported this measure.
The Senate, dominated by allies of Mr. Obama should make Monday a procedural vote on this device. But Republican opponents of the president have said their hostility and can block it. Obama's insistence on the "rule Buffett" seems primarily intended to put on the defensive opponent Mitt Romney, became even more conservative favorite of the primary on Tuesday with the abandonment of its main competitor Rick Santorum. The president did not mention the name of Mitt Romney, merely ironic about the presidential candidates "that should not be appointed" and that according to him are lawyers from both deficit reduction and a reduction in taxes for the rich.
Mitt Romney only pays 15% tax
Mitt Romney, a former investor whose fortune is estimated at between 190 and 250 million dollars, be admitted subject to a tax rate of 15% despite annual revenues of over $ 20 million in 2010 and 2011. It thus benefits in particular, as many wealthy Americans, niche tax changes introduced in 2001 and 2003 under the aegis of former Republican President George W. Bush. The White House says that Americans appearing in 0.1% of the highest incomes pay taxes now represent 26% of their income, against 51% in 1960, while members of the middle class have seen in the same time their tax rate from 14 to 16%.
The discount on the carpet of the "rule Buffett" comes as Americans must report their income before April 17 and may be more receptive to such a speech. The Republican camp has fired back Tuesday stressing that what they called "Buffett tax" would raise no less than 50 billion dollars in ten years, while the federal government debt exceeds 15,600 billion . And communications director for Mitt Romney, Gail Gitcho, said that "President Obama is the first president in history to openly campaign for reelection on a platform of raising taxes." Former President Bush himself on Tuesday defended the tax cuts of 2001 and 2003, during a speech in New York. "If we increase taxes, we take money from the pockets of consumers," he said in a rare foray into politics since leaving the White House in January 2009.
The United States believes that European governments have not stopped the illegal subsidies to Airbus and will accordingly implement the first stage of the procedure before the Sanctions 'World Trade Organization (WTO), said Friday the U.S. Trade Representative Ron Kirk.
This initiative can in theory lead to penalties amounting to billions of dollars imposed on EU products.
"We refuse to remain inactive while companies and American workers are disadvantaged," said Ron Kirk in a statement.
The text clarifies the intent of the United States to ask the WTO to say whether the EU has complied with a previous decision of the organization de ; favorable state aid to Airbus.
Ingenico is looking for growth opportunities in services and emerging markets after the forced abandonment of its proposed acquisition in the U.S., which would enable it to face the giant VeriFone.
The CEO of specialist payment terminals, Philippe Lazare, told Reuters detect "significant room for improvement" in Southeast Asia, where it is to affû ; t acquisitions.
"The past year has confirmed that emerging markets are really the primary drivers of growth and the business model with an increasing share of our service activities and transactions (compared to) our terminal activities is a strategy that works, "he argued in an interview.
Ingenico had to rethink its strategy last year after renouncing buy U.S. assets of Hypercom as a result of a decision of the department improve Rican Justice to initiate an antitrust action.
In the U.S., where the group's clients include distribution groups Wal-Mart and Home Depot, Ingenico expects much of the ongoing transition of the United States to smart cards, lead to a prompt Renewal of the terminal stores.
Ingenico, which counts among its competitors Gemalto, First Data and Heartland Payment Systems, is also betting on the transaction management services and maintenance of payment terminals, for not having to rely on its core business , manufacture and sale of terminals.
This service activity should represent 40% of turnover next year as against 32% today, said Philippe Lazare.
Ingenico announced last month reaching for the first time in 2011 the symbolic threshold of one billion euros in revenue, driven by the dynamism of emerging countries.
For 2012, the group said it expected growth of over 8% on a comparable basis of its revenues and an EBITDA margin of greater than or equal to 18.3% .
The action, which exceeded 85 euros at the height of the dotcom bubble, touched a low of 4.6 euros in 2003. The title has turned the corner since 2009 and was up 28% since the beginning of the year at nearly 36 euros.
Ingenico, whose biggest shareholder is the supplier of defense and security Safran, in 2010 had rejected an offer to 28 euros per share of U.S. conglomerate Danaher, but Philippe Lazare said his group left for sale. At the right price.
"Clearly, society has been widely appreciated since this offer," he said. "We will continue to strengthen our balance sheet and strategy and make acquisitions to grow our relevant value. After, if someone wants to buy us one day, he will be welcome provided that it will put the price ".
