World and National News

After the United Nations Conference on Trade and Development (UNCTAD) and World Bank, it was the turn of the IMF (International Monetary Fund) and the Bank of France to take a position on the yuan.

Invited BFM Radio, this Tuesday, Christian Noyer, governor of the Bank of France said that "to have a robust and sustainable growth for world economies, the issue of currency must be resolved. In G20, we are negotiating with China to find the right system to get the best balance.

"The G20 must address the issue of exchange" (Walnut)

He deplored the existence of two systems with a share of them floating currencies like the dollar, the euro, the pound or the yen and other currencies fixed, as the yuan."If a small country has a fixed currency does not pose a problem, but the fact that this is a country central to the economy, the coexistence of these two sytems is therefore more feasible," said Governor Bank of France.

For its part, Dominique Strauss-Kahn, IMF managing director, in a speech to the European Parliament in Brussels, ruled Wednesday that the Chinese currency was "very undervalued", echoing account criticism of the United States.

For the former French Minister of Economy, Finance and Industry, a reappraisal of the yuan through a Chinese growth "more driven by domestic growth" and consumption, and less by exports and cheap products payday advance . A model that China will continue to develop.And for this, the Chinese government has reiterated its desire to stimulate consumption. Thus, 14% of Chinese GDP, under the stimulus plan has been devoted to domestic demand.

Pressure on Barack Obama

Tuesday, UNCTAD said that letting the yuan float would not solve the problems of trade imbalances, an argument advanced by Washington. For its part, the World Bank has advised Beijing to let its currency appreciate.

After the open letter sent Monday by one hundred thirty legislators to U.S. Treasury Secretary and Secretary of Commerce, five U.S. senators have proposed a text yesterday to redefine the criteria by which a currency is considered handled.Where manipulation proved, trade sanctions can be taken through tariff barriers on imports for example.

The increasing pressure on Barack Obama, U.S. officials did not hesitate to bring to account the "undervalued" yuan a share of the rise in unemployment across the Atlantic. The legislators also believe that the low level of the Chinese currency is an indirect subsidy to Chinese exports and import taxes.

"Read the text of the letter

The aerospace supplier Zodiac Aerospace publishes Monday sales down sharply for the first half shifted 2009/2010. In this period, group revenues fell 12.8% to 966.1 million euros against 1.1 billion a year earlier. The Aircraft Systems Segment is the most affected with a decline in turnover from 25.7% to 219.6 million euros due to lower sales in the aviation business.

For group management, however, these results are consistent with expectations. "Despite the economic crisis affects, as expected, with a few months later the entire aviation industry suppliers, the activity of Zodiac Aerospace resists the first half," said a statement.

Signs of improvement have also been detected in the second quarter, when revenues decline by 10.6% was less marked than in the first quarter (-14.9%) guaranteed cash advance . The Group therefore maintains its goal of operating profitability of 8% on the basis of an average euro / dollar of 1.50.

For 2010/2011, Zodiac placed on an improvement "sensitive" to the economic situation, thanks to a recovery in air traffic and the intentions of deliveries of major manufacturers. Management expects a net profit whose development will be consistent with current operating income.

On Monday at the Paris Stock Exchange, the shares closed down 2.04%, to 33.865 euros in a market decline of 0.93%.

President Nicolas Sarkozy, German Chancellor Angela Merkel and President of Eurogroup Jean-Claude Juncker, called Thursday a survey of the European Union on financial derivatives, and hoped the ban on "speculative transactions" the regarding.

In a letter dated March 10 released Thursday by the Elysee, the three leaders and the Greek Prime Minister George Papandreou proposed that the European Commission "due diligence as soon as possible an investigation into the role and impact of Speculation on CDS (credit default swaps, Ed) the obligations of European states. " CDSs are contracts to exchange the risks of default of a company or a state.Speculation on these CDS are singled out in the financial crisis currently Greece, heavily indebted.

Minimum holding period of CDS

"If this investigation was to expose abuses of market or that it exhibits evidence that speculation has an impact on interest rates, we will quickly review and action as appropriate, adopt laws and regulations necessary to end, "adds Angela Merkel, Nicolas Sarkozy, Jean-Claude Junker and George Papandreou cash till payday advance .

The company announced Wednesday it had granted Bausch & Lomb the exclusive worldwide rights of NCX 116, treatment of glaucoma and ocular hypertension, for a total of up to $ 169.5 million.

In exchange, investors reacted immediately: the NicOx shares rose almost 6%. Rebelotte Thursday with unehausse of 5.7%. Thus, actions cotent at closing 5.92 euros. The bar is close to EUR 6.

However, the exchange price is still below its levels there are still four months (the title was worth € 7.9) or June 2009 (it was over 10 euros) … or all of its first steps on the Paris stock exchange (the record stands at 39 euros). It was late 1999.

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Photo credits: Le Figaro

The Appeal of Ban Ki-Moon has been heard. "There is no doubt that we are facing a major humanitarian emergency and an equivalent effort in disaster relief is needed. I urge all members of the international community to assist Haiti in this hour of great need, "stated the secretary general of the United Nations (UN), after the violent earthquake that devastated the capital Port -au-Prince Tuesday. Since then, pledges poured in from around the world.

The United Nations said on Friday he had received 268.5 million dollars in aid pledges from many governments and businesses. To this sum, plus the $ 100 million that the International Monetary Fund (IMF) has put on the table.At a press conference in Washington yesterday evening, its managing director Dominique Strauss-Kahn said this aid, which will be released "very soon" by the board of the IMF, would come from an extension of a existing loan to Haiti. The day before, the World Bank had pledged aid for the same amount.

Governments at the rendezvous

Among the twenty donors reported by the UN include Belgium (0.65 million), Sweden (0.85 million), China (1 million), Italy (1.46 million), Finland (1.8 million), Denmark (1.9 million), Switzerland (1.9 million), Germany (2.17 million), Netherlands (2.91 million), Spain ( 4.37 million), EU (4.37 million), Canada (4.8 million), Brazil (5 million), Australia (9.3 million), the United Kingdom (10 million ) and the United States (100 million).

In France, the Economy Minister Christine Lagarde has benefited from the presentation of his vows to the press this morning to ask the creditor countries of the Paris Club to cancel the entire debt of Haiti. The country still has 54 million euros to France, for example. Paris had already canceled unilaterally and unconditionally 4 million euros of debt, December 11 last. Christine Lagarde also appealed to Venezuela and Taiwan, two major creditors of Haiti who do not belong to this group.

Solidarity initiatives of companies

But generosity is not the sole preserve of large institutions and governments. NGOs and associations are at the forefront, both on the field and at the collection of donations. Calls for assistance have increased over the past three days.In addition to individuals, many companies have personally responded to these appeals, as after the tsunami that hit Asia in late 2004. Numerous initiatives have been announced, including France.

The Post, for example, will publish in the coming days, a tone of solidarity with the victims of the earthquake. The price of 1 euro includes a donation of 44 cents to the Red Cross. EADS and its subsidiary Airbus has decided to lend the association Action against hunger a jumbo A 340 to help the Haitians. The aircraft must take off from Lyon on Friday afternoon, with on board 150 cubic meters of material health and telecommunications, as well as pockets of water. Following the call of Industry Minister Christian Estrosi Wednesday, the French pharmaceutical industry donated 56,000 emergency treatment for relief teams visiting Haiti.Finally, the French airline Air Caribbean said this morning that it would introduce flights at special rates for Port-au-Prince, from the airport in the Haitian capital will be reopened to commercial flights.

The challenge of rebuilding

Such generosity is not without challenges. This effort requires international coordination, said Dominique Strauss-Kahn. Start quack, the EU acknowledged on Friday having been informed "by the press" of the international conference for reconstruction and development of Haiti, announced yesterday by France. "I am not aware" of the conference, said the spokesman of the High Representative of EU for Foreign Affairs, Catherine Ashton, during a press briefing in Brussels.

Yet, as Bernard Kouchner, the appointment is already taken.The conference, which would join the United States, Brazil, Canada and other countries, could be held in March, said the Foreign Minister this morning.

Haiti, a country to its knees

• Population: 9.8 million (UN estimates 2008)

• Gross national income (GNI) per capita: $ 560

• Poverty: 78% of the population lives on less than $ 2 per day and over 50% with less than $ 1 a day

• United Nations Development Program (UNDP): 146th rank among 177 countries worldwide

• Life expectancy: 59 years for men, 63 for women

• Infant mortality rate: 60 per 1,000 births

• Aid for Development: The World Bank has granted 273 million dollars in financial assistance to Haiti since 2005, through the International Development Association (IDA).

(Source: World Bank)

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Born in the urgency of the crisis, the idea of an "economic government" back in force at the time construction begins the following: provide sustainable Europe on track towards growth and employment . Herman Van Rompuy, EU president, described the emergency Friday as "a matter of survival" for the continent. In response, the Spanish Prime Minister Jose Luis Zapatero suggests a tighter coordination of national economic policies, with the possibility of sanctions against the recalcitrant.

For his baptism of fire in Madrid, the first president of the European Council has sounded the alarm. Europe out of the crisis weakened and "defensive," said Herman Van Rompuy. She has no choice. After the test, "the growth potential of the EU has fallen to just over 1% per year. It will not be sufficient to fund our social model (…) and the so-called European way of life. "It is time to speak truth to reforms and "the collective effort."

Europe out of the crisis and palliative care, but diagnosis remains gloomy backdrop of sluggish growth and industrial decline facing Asia and America. Unemployment rose for the first time in over 10% in the euro area, adds gloom. The first test of a burst is due February 11 in Brussels at an extraordinary economic summit with President Van Rompuy himself summoned.

Risk for sovereignty

Spain Jose Luis Zapatero, who holds the presidency of the EU, expresses its readiness to help."We must absolutely take another strategy (growth), binding, with the 2020," said Spanish Prime Minister told reporters.

For Madrid, the collective rules that already apply to the euro, government deficits or the competition on the market provide a unique model of governance. It should be expanded to a European recovery in the medium term. The idea remains controversial. If France pushes for eighteen months a "greater coordination" industrial policies, Germany is notoriously reticent. As for Britain, it opposes the front to European encroachment on its sovereignty.

Spain wants to raise – and more muscular – the idea of an investment plan in ten years. Already proposed in the late 1990s, the Lisbon Strategy was to make Europe the area's most competitive. In 2010, she finds herself far short.Now Madrid wants to go further by requiring states to targets and deadlines in areas deemed critical: energy, education, the digital economy or vocational training. The scoreboard would be monitored by Brussels. "Incentives and corrective measures will complement the device, said Jose Luis Zapatero. This time, it is to ensure that the objectives will be achieved. "

Madrid launches the debate with a hint of provocation. Herman Van Rompuy has not taken over the idea of a constraint. The crisis has restored the fortunes of interventionism. But the Spanish recipe may strike the interests of States.The Capitals would not see a good eye, the EU invested a right to control their expenditure budget, or even any power to sanction.

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The first results of the survey of 102,000 employees of France Telecom are falling, and they are not in favor of the operator. "Felt generally very degraded", "weakening the physical and mental health of some employees'" work atmosphere tense, even violent "are some of the findings prepared by the firm specializes Technologia at the end of the investigation since mid-October in France Telecom. A summary of 75 pages which had access to the Associated Press was delivered Monday morning to both management and unions of the operator.

They were more than 80,000 employees of the group or 77.9% to the questionnaire prepared by Technologia, Workforce oldest in the company and the most experienced showing particularly concerned.

"A functional mobility badly accompanied"

The summary report shows the "strong concerns" of employees surveyed, with the consequence including the loss of the "pride of belonging to France Telecom" and "felt generally very degraded." They were in fact 96% say that proud of this membership cons only 39% today. The difficult working conditions, with a "weakening of the physical and mental health", mainly those in charge of sales and "interventions customers.

More generally, the investigation reveals a "functional mobility badly together," and a "geographical mobility of non-sensitive framework, thus confirming an earlier observation made by many employees.In total they are 55% declare themselves "somewhat dissatisfied" on a professional level, and 65% believed that their working conditions have deteriorated, according to the CFE-CGC.

Moreover, "social relations deteriorated" are found among non-executives, including a "major failure of management" and "working atmosphere tense, even violent.

"The diagnosis is indicative of the internal situation" responded Patrice Diochet the CFTC, adding hope that "this diagnosis is a detonator." "We must use this tool to put pressure on the ongoing negotiations on stress," he added.

Playing the card of transparency in anticipation of these results, France Telecom announced a total of 32 suicides among its members for two years. The operator has not yet made public its reaction.