Cameron mocks Sarkozy's Tobin Tax

With this measure unilaterally decided by France, the UK will host "several French banks," mocked the British prime minister Monday. Meeting between David Cameron and Nicolas Sarkozy at the Elysee December 2, 2011. <p> British Prime Minister David Cameron mocked Monday Nicolas Sarkozy's decision to unilaterally introduce a tax on financial transactions, believing that by this measure, the UK would host "several French banks." " / p> "I find it incredible that we can do this," said Mr. Cameron about Mr Sarkozy's decision to introduce this tax without waiting for its European partners. "As we fight for jobs and growth, do something that cost so many jobs seems extraordinary," he said during a press briefing on the sidelines of a summit of 27 countries of the European Union in Brussels. </ p> "And in a healthy sense of competition with France, if France a tax on financial transactions, our door is open and we can welcome UK banks and many more French companies, and our economy will grow, "Mr Cameron joked. </ p>" I am full of admiration for Nicolas "<p> While noting that they were disagree on certain issues, he described the French president as "remarkable man" and recalled their collaboration during the war in Libya. "I wish the best to my friend Nicolas," he added, in response to a question whether, as German Chancellor Angela Merkel, he would campaign for re-election of Mr. Sarkozy. </ P> "I am full of admiration for Nicolas. From time to time he said something with which I do not agree, as when he said that Britain has no industry, as we have an industry larger than France, "he said. </ p> M. Cameron was referring to comments made Sunday night by Mr Sarkozy during his interview broadcast by French television channels. "We can talk in the UK with pleasure, the UK, they have more industry", launched the French President. </ P> Relations between the two men are strained these recent months. The EU summit in late October had already been the subject of a frank explanation of them, M. Sarkozy irritated during a meeting that Mr. Cameron gave lessons to the euro area over the course of action. </ P>

According to a survey, less than a third of French say they are willing to buy the French public debt. And you, would you be willing to lend to the state? Do you have confidence in his ability to repay? It goes from 8.86 to 9 euros gross time to reach 1,365 euros for 35 hours, or about 1,073 euros net per month.

Less than a third of French say they probably or definitely willing to buy the French public debt if they were given the opportunity, according to a Harris poll for the site information and the agency Jolpress Image & Strategy to be published Tuesday in the Tribune . Only 6% of French people would buy "certainly" the debt of the country at rates comparable to those charged by banks, and 24% would buy "probably" of such bonds, said the survey.

Conversely, 65% of French people would not buy "definitely not" (34%) or "probably not" (31%) of French debt. Two countries, Italy and Belgium have recently suggested to individuals to buy government bonds, and these operations have been successful. The "day Treasury bills", during which the Italians were called Monday to buy the debt of the country, met a great success, while in Belgium, the government launched Thursday a government bond which has was well received by individuals.

In addition, a majority (56%) of the French believed that the acquisition by the European Central Bank (ECB), a significant portion of the debts of the states of the euro area would reduce speculation in debt. But 56% believe that it would deter states to make real efforts to reduce their deficits and 53% that it could foster inflation.

Values ​​to follow Friday at the Paris Bourse, where the CAC 40 index advances 0.65% to 3084.49 points in very small volumes, however, less than 800 million have changed hands on the index as part of Euronext platforms.

* EADS (4.65%) signed the largest increase in the CAC 40, after a jump of more than 5% related to his statement of annual goals and quarterly earnings well above expectations.

In addition, according to industry sources, the Qatar Airways and Emirates airlines as well as the lessor of aircraft ALAFCO could spend significant aircraft orders at the Dubai Air Show, which begins Sunday.

* BNP PARIBAS advance of 3.38% to 31.54 euros.

* Veolia Environnement (-1.07%) continues to suffer from its new warning issued yesterday, many brokers have lowered their price targets and estimates of value.

* SOITEC jumped 14.51% after announcing that its subsidiary Soitec Solar Development had received regulatory approval from the Commission to regulate utilities in the State of California for its five power purchase agreements concluded with San Diego Gas and Electric.

TF1 * (-13.49%) shows the largest decrease in the SBF 120, the group has lowered its forecast revenue for 2011 after the graduation of net advertising revenue of its flagship channel in the third quarter.

More than 68,000 passengers affected by the strike at Qantas

Australian Prime Minister Julia Gillard has asked Qantas unions to end their claim as the strike of the airline has reached over 68,000 passengers.

Julia Gillard, criticized for not having intervened earlier in this dispute, asked the court ruling in Melbourne this type of case to end as soon as possible to the strike.

"We have taken this action (going to court) because we are worried about the impact on the economy," said the head of the Australian Government.

The strike comes at a worse time for the Australian Government, the Commonwealth summit being held in Perth.Seventeen officers were invited to travel on Qantas aircraft Sunday.

Saturday, the airline has grounded more than one hundred aircraft and canceled 447 flights. The strike comes during a weekend of the busiest of the year in Australia in terms of air transport, in part because of a very popular horse race, the Melbourne Cup horse, which takes place Tuesday and attracts tens of thousands of people.

The unions are demanding salary increases and improved working conditions, and challenge the strategy of the company to focus its international activities in the Asia-Pacific region. The company management wants it removed through a thousand jobs.

Safran and Thales close to agreement on two joint ventures

Safran and Thales are close to an agreement in principle on the creation of two joint ventures, one in optronics and the other in inertial navigation, officials said Friday a source close to the matter, confirming a report of daily Les Echos.

The two manufacturers for the aerospace, defense and security in May had announced the resumption of talks suspended in mid-2010, under pressure from the state, their common shareholder that seeks to reduce duplication in the sector defense budget cuts in full.

"Thales and Safran are close to an agreement in principle, but it is not the final agreement," the source said, adding that the joint venture would be headed by the Thales optronics and that in the inertial navigation by Safran.

Death is expensive in France

Bury or cremate their dead costs on average 3,000 euros, according to a survey of the UFC-Que Choisir. The difference between the cheapest quote (1300 euros) and the most expensive (6100 euros) shows that competition is not enough. Cemetery of Pantin, near Paris

Bury or cremate their dead is a complex and costly journey to the consumer who must deal with often exorbitant prices and specifications are difficult to obtain or abuse in an industry where competition is not. The cost of the passage from life to death can be multiplied by five, depending on the selected services and burial.A survey of UFC, released Tuesday, provides a range of 1300-6101 euros between the cheapest quotes and the highest, at an average cost of 3098 euros, almost equivalent to a burial or cremation.

These differences show that the competition is not enough, and especially since customers weakened by grief often accepts the estimate prepared by the provider first met. "Play competition, even in the case of death, it's not butt, although some operators do not hesitate to make this argument vicious" to corner the families to pay a high price, told the AFP Alain Bazot, president of the association.The "first condition" of healthy competition, he says, is a quote "transparent and legible for comparing and sorting" between mandatory services and plenty of optional services (flowers, toiletries, conservation , dressing, porters etc. ..) always available.

The price of the coffin varies from 950 to 1300 euros, care to the deceased from 90 to 150, the burial chamber from 250 to 400, and administrative procedures handled by the operator 110 to 263 euros. However, the benefits required by law, can be summarized in a coffin 22 mm – 18 mm for a cremation – a mechanical seal, four handles, an identification plate, and a vehicle authorized to transport the deceased.

Reinvigorate competition

A ministerial order intended to force since August 2010 funeral operators to establish transparent and legible quote, did not provide a satisfactory answer, according to Mr.Bazot: 97% of estimates collected by UFC does not conform to the regulatory model, 39% only partially meet the criteria, and 18% of 997 shops visited refused burial to establish a personalized quote. The constraint can not be effective if accompanied by sanctions, and this, according to Bazot, the Directorate General for Competition (DGCCRF) must become a "deterrent" in imposing penalties financial.

DGCCRF objected that "this is the field establishing PV" including crimes (in case of deception on benefits). Paid for justice to follow. DGCCRF also conducts investigations "to identify more discrete agreements between operators or abuse of dominant position". For in this local market, franchisees and independents, too often only locally, abuse of that exclusivity.

"There are ways to enhance certain operators and avoid the ill will of others," says Bazot proposing to inform consumers through brochures available in hospitals, nursing homes, and town halls. "It's not revolutionary, he says, but it can revitalize the competition."

Rescue of the euro: the bites of discord

Despite claims of a "perfect match" between Paris and Berlin to save the euro area, Germany is seeking to impose its measures to France. But Paris is fighting back. Anthology of statements that illustrate these differences. German Chancellor Angela Merkel and French President Nicolas Sarkozy during a press conference at the Elysee Palace August 16, 2011.

"The French do not move one iota"

Paris and Berlin on the same wavelength? There is something highly doubtful. Despite Thursday about the German Finance Minister Wolfgang Schäuble has mentioned a "total agreement" between France and Germany before the European summit Sunday, the two capitals still cling. This is particularly the disagreement on scenarios for ending the crisis of the euro which caused the postponement of a final decision next Wednesday, not Sunday as planned.Angela Merkel even declared Thursday in a small group that "the French do not move one iota" on their positions, according to remarks reported by the German daily Bild.

"Give a banking license in EFSF is out of question for us"

The disagreement most marked between the two capitals is on maximizing the European Financial Stability Fund (EFSF). Paris wants to give it a banking license to enable it to obtain financing from the European Central Bank (ECB) and have a borrowing capacity multiplied. Out of the question for Germany. The Vice-Chancellor of Germany Philipp Rösler was repeated Friday, "in no circumstances do we want a banking license is given to the EFSF. Want that our colleagues, friends and partners in France. But it's out the question for us as government and the coalition (government) as a whole. "The ECB also refuses, his chief economist Juergen Stark said on Thursday that "we can not meet the expectations of the governments (…) the fact that the ECB to do more."

"France continues to defend it, there are big discussions"

The EFSF, negotiations are still bitter between the two diplomats, and Paris does not admit defeat. According to a European diplomat, "France continues to defend it, there are big discussions." Paris as the ECB would continue to purchase securities of distressed states like Greece, Italy, and Spain. The institution has made since May 2010 out of its mandate to do so, and avoid contagion of a debt crisis in these countries. Belgium is already favorable.But the ECB refuses to continue this policy firmly and waits for the EFSF take the baton, according to the diplomat.

"From the beginning, Merkel dictate the tempo and impose its income erroneous"

If France does not want to compromise on its position is that it has followed much the German proposals in recent weeks on two main points: a strong restructuring of the Greek debt and bank recapitalization. It has long been opposed, but finally solved it, especially to preserve the unity of France and Germany. "From the beginning, Merkel dictate the tempo and impose its income erroneous," a European diplomat plague.France seemed to have resigned to claim the "banking license" to EFSF, it is now ready to attempt the showdown with Berlin.

"The impact is disastrous outside"

To stem the crisis, Berlin wants to use the EFSF as insurance against the default of the countries in difficulty. It would guarantee 20 to 30% of the securities issued by states. But on this subject the French are not the only ones to show their reluctance. Rome and Madrid are also in disagreement according to a source cited by Les Echos. According to Italy and Spain it will create a rate difference between bonds and debentures. "No one in a financial crisis, venture to purchase securities that need a crutch," the official said.The prospect of a consensus is difficult to foresee, and Europe the world illustrated by his disagreements according to the chairman of the Eurogroup, Jean-Claude Juncker. "The impact on the outside was a mess," he said. "We'll have to agree soon on how we can improve the look of others on us."

The situation in Greece "has not changed since July"

One of the major issues for the future of Europe is its ability to prevent financial excesses of fragile states in the euro area. In Germany, it would tighten controls on the reforms implemented by the countries supported by the troika (EU, ECB, IMF), today Greece, Portugal and Ireland. For this troika responsible for evaluating on a quarterly basis the progress of reforms, not enough according to a source close to the German government.The situation in Greece "has not changed since July," said the source. "The troika system which advises us every three months because too much stress, we need a much more permanent support, which allows to adapt much more quickly" assistive devices.

"There is no real problem with the Chancellor, there is a problem with the German coalition"

According to a French official quoted on the blog of Libération journalist Jean Quatremer, the real obstacles between France and Germany would rather a problem of "German-German". "There are no real problems with the Chancellor, there is a problem with the German coalition," said the official, who stressed that the Finance Minister Wolfgang Schäuble diverges including its chancellor on the level of discount to be imposed on creditors private on Greek debt.What foreshadow muscular discussions before the EU summit on Sunday.

Danone confident for 2012 after a third quarter in line

Confident for 2012, Danone Tuesday reconfirmed its 2011 objectives and expressed confidence for next year by publishing quarterly sales in line with expectations thanks to strong performance in emerging markets.

The world leader in dairy products and bottled water in the third quarter has a turnover of 4.805 million euros, against 4808.33 million expected by analysts polled by Reuters writing.

On a comparable basis, sales growth amounted to 5.9% in the range of 6 to 8% under the group, and as expected down from the 8.7% growth achieved in the first half.Analysts expected an improvement of 5.6% in the third quarter.

Danone said he was "confident" for 2012 and reiterated its 2011 objectives, namely an increase in sales on a comparable 6% to 8% and an increase of its current operating margin of approximately 0.2 point, always like.

This growth will come from all its activities, but particularly integration synergies from Russian Unimilk, said Danone, which still expects to grow its free cash flow consistent with the goal of two billion euros for 2012.

During a conference call, Chief Financial Officer Pierre-Andre Térisse, said the dynamics of the fourth quarter should be "fairly close" to that of the third.

He said most of the price increases had been "passed, executed and well executed in the first half."

As for the confidence shown in 2012, he said it was based on growth in emerging markets, the integration of Unimilk, which should be completed by the end of the year, and increases performed for several quarters in each of the group's activities.

SALES ALMOST STABLE IN EUROPE DYNAMIC ELSEWHERE

The CFO said the price of milk and plastics were now grown.

On a comparable basis, sales of the branch "water" rose 7.9% to 816 million euros in the third quarter, those of the Fresh Dairy Products division from 3.5% to 2.785 million, the "child nutrition" has increased by 10.5% to 906 million and the pole "medical nutrition" from 9.8% to 298 million.

Growth in fresh dairy products was driven by the brand Activia who performed a double-digit growth in Latin America, Japan, Saudi Arabia, Spain and Italy, says Pierre-André Térisse.

In Europe, still comparable, Danone's sales rose only 0.1% to 2.661 million euros in the third quarter, as they progressed from 19.6% in Asia, 740 million, and 11.5% in the rest of the world, to 1.404 million.

In the U.S., where the Greek yogurt segment took 25% market share, Danone has renovated Oikos brand and the first results "are excellent," argued Pierre-André Térisse."We are working to increase our capabilities to meet this demand," he said.

In Russia, he said, the price increases of 2010 have resulted in "a temporary slowing of growth" so that "sales of Danone and Unimilk remained stable compared to last year."

At the Paris Bourse, the action Danone, down in the first few exchanges, quickly moved into the green and won 1.18% to 45.93 euros at 9:20 while the CAC 40 lost 2.1% and the European sector index of the food industry abandoning 0.36%.

The U.S. economy created more jobs than expected

The U.S. economy has created far more jobs than expected in September and the new posts of previous months have been revised upwards, according to official statistics released Friday that could mitigate fears of a return to recession.

Last month, 103,000 non-farm jobs were created, according to the Labor Department, while economists on average expected 60,000 creations.

The unemployment rate was unchanged from a month to month to 9.1%, in line with analysts' expectations.

The right numbers in September are based in part on the reintroduction of 45,000 employees of Verizon in the number of jobs created, they were not in August because of a strike.By excluding these employees, 58,000 new jobs were created.

Statistics disappointing August, which reported zero job creation, for its part has been revised to bring out 57,000 new jobs. That of July was also revised upward to 127,000 against 85,000 previously.

Overall, the private sector has created 137,000 jobs, 100,000 against and 42,000 expected in August. The public sector has eliminated 34,000 jobs to him.

RELIEF

These employment figures are one more sign that the U.S. economy could avoid falling into recession despite a sluggish summer.Last week, the growth of U.S. gross domestic product in the second quarter was revised up to 1.3% against 1.0% in the first estimate.

Recent indicators of the manufacturing sector, business spending and auto sales leave now think the economy is doing better than expected third quarter.

Hourly wages have also increased by 4 cents in September after falling all the previous month.They then recorded their first decline since October 2009, pushing the savings to its lowest level for over a year and a half.

"The increase in job creation and revisions of the statistics is comforting and exciting to the market," said John Kilduff, partner of Capital hedge fund in New York Again.

"But it seems premature to use these numbers to say, regarding the economy in general, we are out of the woods," he tempers.

In September, the U.S. economy has eliminated 13,000 manufacturing jobs, after having destroyed in August 4000.

Some economists fear that the debt crisis will derail the U.S. recovery, not a fear expressed Thursday by U.S. Treasury Secretary Timothy Geithner.

"We're still not at a job that can bring down the unemployment rate, which remains a key concern important to the economy," warns Ellen Zentner, economist at Nomura Securities in New York.

The economy must grow by at least 2.5% per year and create jobs 150.00 per month to prevent the unemployment rate to rise.

More women work, they are more children

Contrary to popular belief, fertility is higher in countries where the participation rate of women is high. When the wife works, the household can more easily provide the extra cost to the arrival of a child.

Contrary to popular belief, most women work, more fertility is high, say demographers at the National Institute of Demographic Studies (INED) in a study published Thursday. "Fertility [the number of children per woman of childbearing age, note] has decreased significantly in all OECD countries between 1960 and 2008 to be below the replacement level of generations of 2.1 children per woman, "the researchers write in their investigation of the relationship between births and economic progress in rich countries.

However, "there is decreased until after 1995, fertility has been slightly increased back in a majority of countries," they said."In all OECD countries, it rose by an average of 1.69 children [by women] in 1995 to 1.71 in 2008," a "rebound particularly marked in Spain, France, Belgium, United Kingdom and Ireland. "

Additional revenue needed for the arrival of a child

The researchers first examined the relationship between fertility and wealth, and observed "an increase in fertility when the level of economic progress, from a per capita GDP of about $ 30,000." But the link does not work for all countries, Scandinavia and Anglo-Saxon, and of France with such "a much higher fertility than expected given their GDP.""Differences in GDP per capita does not suffice to explain differences in fertility of one country to another," conclude the demographers.

By cons, "in most of the richest countries, the rise in fertility is associated with a high employment rate among women," they said.In particular, "the possibility for them to balance work and family is seen as a key rebound in fertility." Thus, if "the relatively early stages of development" of a country, women can postpone childbearing because they are more and more studies, thereby lowering fertility, "At some point, if the woman works, the additional income it brings to the household secures its economic situation and makes the extra cost to the arrival of an additional child support ", says the study, which also refers to" any help provided by the state s' there is a family policy. "