In 2009 women earned on average 20% less than men in the private sector in working time equivalent, according to latest figures from INSEE. This is due largely to different qualifications. However, even within each occupational category, the differences remain. Of employees in an office in Caracas Noticias24.com website.
In 2009 women earned on average 20% less than men in the private sector in working time equivalent, according to latest figures from INSEE showed on Wednesday. "In 2009, the average net salary in full-time equivalent for women is 80% of men in the private sector and 87% in the public sector," wrote the Statistical Institute. The conclusion was the same for 2008. "This is due partly to a structure different skills," said INSEE, "for example, 19% of men are employees of private frameworks against only 12% of women." However, even within each occupational category, "gaps remain," added INSEE survey in the "Jobs and wages".
Among managers of private, women's wages is less than 23% and 21% in the public, illustrates INSEE, noting that the gap "can be partly explained by an effect of glass ceiling + +, but also by other elements such as choice of specialty training, industry or career paths. " This wage gap among executives is "much less important in under 25 than among older people," adds the INSEE, which also notes that the differences "are lower in other occupational categories."
Women are more part-time
A study by the Directorate of Coordination of Research, Studies and Statistics (DARES, Ministry of Labour) in 2008 and published on 2006, frequently cited, noted 27% of gross wage gap in the private sector (about 17% in hourly wages, working time to be equal). The gender differences are also visible in the activity rate and working time. If 70% of the population aged between 15 and 64 is active as defined in International Labour Office (worked, not even one hour during a given week), the figure drops to 66, 1% for women and up to 75% for men.
This gap is much reduced between 1975 and 2009 from 31 points to 9 "under the combined effects of rising female participation rates and a decline in male activity." He explains "a large part" by the presence of young children at home "for families of two children with one (or more) is less than three years, the participation rate of mothers is 54% while that of fathers is 92%. " Finally, women are more often part-time, which only partly explained by the presence of children. "Even among the employed and childless, the proportion of women working part time is 17 points higher than men." "This is so very often involuntary part-time, women are likely to work in the service sector where the use of part-time by companies structurally important", said INSEE yet.
The U.S. trade deficit widened slightly more than expected in December, the acceleration of growth with increased imports to their highest level in three and a half years.
The figures released Friday by the Commerce Department also show that the trade deficit with China set a new record over the entire 2011 to 295,500,000,000 dollars (224 billion euros) , a figure that could stimulate discussion often strained between Washington and Beijing within days of a high-level meeting between the two countries.
The monthly trade deficit stood at $ 48.8 billion in December, as imports reached their highest level since July 2008, just before the financial crisis do fall world trade.
Analysts polled by Reuters had expected an average monthly figure of 48.0 billion. The November deficit was revised to $ 47.1 billion against 47.75 billion originally announced.
U.S. exports rose slightly in December (0.7%), but nearly two times less than imports (+1.3%).
For Omer Esiner, strategist at Commonwealth Foreign Exchange in Washington, the slow growth of exports in December could be due to "a fairly soft global demand," a bleak trend.
"Continuous improvement of economic growth here (United States) will result in an increase in imports. But a slowdown in the exports would be a concern: they played a big role in the improvement seen last year, "he says …….
.. The dollar was up against the euro Friday as investors attaching greater importance to the evolution of the debt crisis in the area euro as U.S. data
. CHINA, SENSITIVE PARTNER
Over the whole of 2011, the trade deficit the U.S. has increased from 11.6% to 558.0 billion, a level not seen since 2008 …….
.. Exports rose 14.5%, exceeding for the first time the threshold of 2.100 billion, a growth that leaves the U.S. economy ; Rican on track to achieve the goal set by President Barack Obama, namely a doubling of exports in five years.
Meanwhile, U.S. imports recorded an increase of 13.8%, to nearly 2700 billion. Foreign car purchases included at their highest level since 2007 and oil imports its highest since 2008.
The average price of imported oil has registered a record high in 2011 to 99.78 dollars a barrel.
Unprecedented deficit with China is expected to fuel the concern expressed by Congress against the policy of the People's Republic, regularly accused maintaining the undervaluation of the currency to help its exporters.
Especially since Barack Obama is scheduled to meet next week the Chinese Vice President Xi Jinping, considered a future issue of the regime.
U.S. exports to China jumped 13.1% last year to $ 103.9 billion while imports reached 399.3 billion (+9.4%).
China has published its side Friday figures showing a reduction in its current account deficit in 2011, which provide an additional argument to support it seeks to reduce its dependence on external demand.
However, a sharp decline in imports in January coupled with a decline slowed exports resulted in the largest trade surplus for six months.
Trade deficits of the United States with the European Union and Canada have also increased in 2011 to 99.2 billion and 35.6 billion respectively.
The European Union has every confidence in Greece with regard to compliance with its commitments made at the EU summit last week, when a new aid package of € 130 billion was reached, said Tuesday the two main leaders of the euro area.
"We note the intention of the Greek authorities to hold a referendum," write the European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso in a joint statement.
"We believe that this agreement is the best for Greece.We have every confidence in Greece to honor the commitments made to the euro area and the international community. "
José Manuel Barroso and Herman Van Rompuy added that they spoke with Greek Prime Minister George Papandreou and said that the referendum question would be discussed on the sidelines of the G20 summit in Cannes, which runs from November 3 to 5.
Caterpillar reported Monday a record turnover and a 44% jump in profit in the third quarter, well above analysts' expectations.
With demand strong, the world's largest earth-moving machinery and equipment for the mining industry posted net earnings of $ 1.14 billion, or $ 1.71 per share, against 792 million, or 1.22 dollar per share, a year earlier.Analysts polled by Thomson Reuters I / B / E / S on average expected $ 1.54 per share.
In pre-market, the title earned 3% after these announcements.
The turnover stood at 15.72 billion dollars between July and September, up 41%, the group called a record, as the market anticipated 15.03 billion dollars.
For all of 2011, Caterpillar said he expected sales to about $ 58 billion, including its recent acquisition of Bacyrus, whereas previously anticipated sales of between 56 and 58 billion.
Earnings per share are now expected to 6.75 dollars for the year, on top of an initial forecast range from 6.25 to 6.75 dollars.
For 2012, Caterpillar expects its sales climbed 10% to 20%.
The U.S. economy continued to grow at a slow pace in September, but prospects appear dim, believes the Federal Reserve in its "beige book" on Wednesday.
"The economy as a whole has continued to grow in September, although many districts described the pace of growth as" modest "or" low "and contacts have generally found a weakening outlook," says the Fed This situation report.
Wall Street and oil prices went up in free fall as a result of this paper while the price of Treasuries rose.
The memo on the economy the Fed is based on data collected before October 7 and deals with all the economic conditions in the 12 Fed districts, which cover the entire United States.
According to the Beige Book, consumer spending rose slightly in most districts, thanks to the automotive industry and tourism.
There was also an increase in business investment, particularly in construction and mining.
While a number of districts have experienced some recovery in construction activity, "the general conditions of real estate – residential as commercial – are still depressed."
Also according to the survey, several districts noted that many retailers are reluctant to build up stocks despite the approach of the holiday season, reflecting a decline in consumer confidence.
This holiday season – which runs from Thanksgiving to Christmas – is at least half the annual turnover of many stores.
Interviewed on CNBC, the president of the Boston Fed Eric Rosengren said the Fed may have to increase support measures if the U.S. economy weakened further or if it was affected by a new shock.
European leaders are putting added pressure on banks to force them to recapitalize and enable them to withstand greater losses than expected on the sovereign debt of the most fragile countries in the euro area.
While being held in Paris the meeting of G20 Finance Friday and Saturday, the market hopes to see political leaders overcome their differences to meet a debt crisis that threatens the stability of the euro area and the strength of the European banking system.
"For now, investors give them the benefit of the doubt," said Patrick Moonen, strategist at ING Investment Management, in a note entitled "Good luck to political leaders."
Pending the outcome of the meeting of finance ministers and central bankers of the G20, the surveillance by Fitch notes several banks – including Barclays, BNP Paribas, Credit Agricole, Credit Suisse, Deutsche Bank or Societe Generale – show the difficulties faced by banks today.Difficulties that have driven the last weekend the French-Belgian Dexia decommissioning.
In exchange, the banks Friday was the only sector to finish down in Europe (-0.59%).
The President of the Eurogroup Jean-Claude Juncker reiterated Friday that several European banks needed to be recapitalized.
The crucial step remains the European Council of 23 October at which Germany and France will unveil their proposals for overcoming the crisis. Both countries said they already sealed their agreements without specifying its content.
"We have never been so close to a solution (to the debt crisis, Ed). But this is not done," warns David Thebault, head of quantitative trading at Global Equities."There is concern that the market takes it badly if there is no announcement of precise and detailed plan on October 23 and November 3 (G20 Cannes, Ed).I remain cautious. "
The Franco-German proposals will include a bank recapitalization and strengthening the response capacity of the European Financial Stability Fund (EFSF).
SIX MONTHS to recapitalize
In preparation for the European Council, the European Banking Authority (EBA) provides a new set of stress tests of the banking sector.
Stricter than the previous year this time should include a valuation of sovereign debt, particularly that of Greece, at market value, and the EBA should require banks a minimum capital ratio "hard" ("core tier one") of 9% and not only by 7%.
According to European sources, the weakest banks will then have six months to build up their capital.
"The only real justification for recapitalization would be to reassure the markets," said Laurent Quignon, head of economics at BNP Paribas bank.
"But in terms of economic fundamentals, there is no more reason than all the banks are recapitalized today than yesterday."
According to Goldman Sachs, at least 50 out of 91 European banks could fail the new stress tests, indicating a need for 139 billion euros in fresh capital.
The terms of a bank recapitalization on the Old Continent will be the subject of intense negotiations from Monday, said President of the Eurogroup.
"LESS DIVIDENDS, BONUS UNDER"
The French government has already said that the State was ready to help banks, but for now it emphasizes the strengthening of capital by private capital, unlike what was done in 2008 and 2009 under the plan to help French banks after the collapse of Lehman Brothers.
"Banks will have to recapitalize on the basis of their results by distributing less dividends and less bonus," said Friday morning the Minister of Economy Baroin, Europe 1.
"If they can not, they will do in the markets.If markets are not sufficient, they will find partners and, ultimately limit, there will be an opportunity for European coordination. "
"For France, I want to say that I am confident in the ability of our banks to raise their profits and all means at their disposal to strengthen their capital base," added the Prime Minister Francois Fillon, in the afternoon during the parliamentary days of the UMP.
In line with the German position, France has already ruled out recourse to EFSF to recapitalize its banks.
"Policies must resolve the dilemma between the private shareholders of banks that do not want to hear about dilution and the market which requires recapitalization," said Christophe Nijdam, an analyst at AlphaValue.
"The calls for recapitalization by the European authorities can be cons-productive to the extent that they contribute to fuel concern for all banks," warns Laurent Quignon, at BNP Paribas. "What can paradoxically make raising capital more difficult for institutions that need it."
Deutsche Bank, which would need to raise 9 billion euros according to sources, has made it clear that it would avoid any forced recapitalization.
McDonald's said on Friday quarterly results better than expected, thanks to the strength of its European and American markets.
Sales on a comparable basis rose 4.5% in the second quarter in the U.S., 5.9% in Europe and 5.2% in Asia Pacific, Middle East and Africa.
The first global chain of hamburger announced a net profit of 1.41 billion, or $ 1.35 per share, against 1.23 billion and $ 1.13 a year earlier.
These results exceed the expectations of analysts polled by Thomson Reuters I / B / E / S, which on average expected earnings per share of $ 1.28.
Turnover reached 6.91 billion dollars against 5.95 billion a year earlier.
The title was up over 2% in pre-market at 88.50 dollars, after finishing Thursday at 86.54 dollars.
An appeals court in Milan on Saturday condemned the Fininvest group of Italian Prime Minister Silvio Berlusconi to 560 million euro fine for damages to the CIR group, it was learned from legal sources.
Fininvest had taken control of the publishing group of Arnoldo Mondadori Editore in early 1990 at the expense of the CIR group with a court order. The judge responsible for this decision was later convicted of corruption.
In 2009, a Milan court sentenced him at trial Fininvest to pay 749.9 million euros in damages to the CIR but Fininvest group had appealed the decision. The group of Silvio Berlusconi would also appeal the decision on appeal.
The International Monetary Fund is expected to approve the end of August the payment of the final tranche of the aid program of $ 2.1 billion to Iceland, said Friday the head of the on-site from the IMF.
"The discussions between the Icelandic authorities and the IMF mission have been productive for the sixth and final review of the agreement," said Julie Kozack in a statement.
"Discussions will continue in the coming weeks, for approval by the Board of the IMF in late August."
The IMF approved in early June a payment of $ 225 million on 2.1 billion program, awarded in 2008 after the collapse of Icelandic banks.
Julie Kozack emphasized that the Icelandic economy was recovering gradually, with growth of gross domestic product expected to 2.5% for 2011, but stressed that inflation was also up, reflecting in particular the depreciation of the Icelandic krona.
The British agency for media buying Aegis said Wednesday that it now Ipsos exclusive discussions with the sale of Synovate, its market research subsidiary.
Aegis said this month to negotiate for the sale of Synovate, which analysts value at around 500 million pounds (556.7 million euros). According to sources familiar with the matter, Ipsos had taken the first step.
A sale of this subsidiary would provide a spotlight on the activities of Aegis, presented long as acquisition targets of Havas.
These two groups have common shareholder as the businessman Vincent Bolloré. The latter suggested in May that it would be willing to sell its share of Aegis.
