World and National News

No more steroids for French consumption! With the end of the scrapping, household spending fell 1.8% in volume, after falling 1% in March, according to figures released Tuesday by the INSEE. Only the food consumption and "other manufactured goods" rose over the month, respectively +0.8% and +0.2%.

"It was difficult indeed to hope that consumption could continue to climb even though inflation is now growing faster than household incomes. In other words, the purchasing power probably will fit down in the second quarter, "said Alexander Law, chief economist at the firm Xerfi.

The decline in consumption is largely explained by the sharp decline in automobile purchases, who drop by 10.2% over the month, after falling 2.1% in March.No doubt for INSEE, this is the "repercussions of the abolition of the scrapping on 1 January 2011". Statistics from the automotive industry in April, released in early May, already left us to expect a jolt, recording a drop of 11.2% of sales in France.

Moreover, the French fell 0.5% spending on equipment housing in April. This figure follows a 17% drop in sales of new homes in the first quarter. Households also spent less in clothing stores (-0.5% on the month).

Energy costs are on the other hand fell 3.2% in April. "The decline is mainly due to climatic conditions rather soft in April, compared to seasonal norms, which have restricted the use of heating fuels," INSEE analysis.An effect that would have cleared the explosion of the fuel budget of households fund soaring pump prices.

Introduced in 1992, the French legislation on sexual harassment tends to approach similar laws across the Atlantic. U.S. law prohibits "harassing a person (employee or job applicant) because of her sex." Based on equity of all citizens before the law, it seeks to protect the rights of all segments of society, in order to defend the weakest minorities.

In the French Penal Code, the definition of harassment has been expanded to "any order, threat or coercion in order to obtain favors of a sexual nature." Civil law and criminal law French, however, saw a case of harassment differently. Before the Labour Court, just as the employee establishes the reality of harassment to the accused is compelled to defend his behavior.But at a hearing before the criminal court is the accuser who must provide evidence of guilt. This is where the difficulty lies in proving a case of harassment in France. In most cases the harassment does not leave visible traces, and it is difficult for victims to prove the guilt of the perpetrator.

The legal provisions on sexual harassment in France and the United States also has a very large difference in the amount of damages. "The French courts are less generous than their U.S. counterparts," says Peter Jung, a lawyer with Cohen Amir-Aslani Ngo & Associates. "The American concept of punitive damages to punish a fault, does not exist in France where the damages are only intended to repair an injury suffered by a victim.Legal action in France is not a gamble, as it may be in the Anglo-Saxon. "

A question of manners

Why sexual harassment cases when they have an echo as important to U.S.? Martine Bouccara, lawyer with Cohen Amir-Aslani Ngo & Associates, is a matter of criminal policy, more or less on certain crimes and misdemeanors. "In terms of gravity, the prosecuting authority (the prosecutor) does not act the same way on different elements of public policy. That is his right because he was also elected on a platform. United States, it is the sexual offenses that hold the attention of prosecutors, because the fact of Puritanism, there is an exacerbation of sensitivity around this issue. "

For sociologists, this exacerbation have been linked to the American concept of privacy (privacy), which is much larger in the U.S. compared to France.It includes not only everything about a person but also what that person is able to control. "Tell me who you are in private life, and I'll tell you who you are in public life," summarizes Virginia Martin, a sociologist and research professor at Euromed Management. Thus, when a boss is convicted of harassment by the U.S. justice system, the message perceived by society is that it is unable to control a large company because it has no self control itself. "An American will feel more easily knocked in his privacy than French. And when his "protection zone" can be more easily reached, the scope of prevention is broader, "the lawyer Martine Bouccara analysis.

But according to Eric Albert, president of the firm IFAS, this trend is often taken to extremes."Even jokes on the topic of sex are sometimes criticized. Some people complaining of sexual harassment have no idea what it is. However, it is a very serious act that has great psychological impact on victims. "

The lawyer Peter Jung finds in recent years the "legalization" of French society in terms of sexual harassment. "In the U.S., relations between people in the world of work are fairly complicated and even codified. The rules of behavior that society demands can affect the spontaneity of relationships. But it is undoubtedly the price to pay to eliminate discriminatory behavior. In France, there is a growing number of lawsuits to try to punish inappropriate behavior. Our country takes its cue from the U.S. in this regard, but it remains very far from him look like.A remark or sexist behavior is unfortunately often perceived as a sign of virility. "

The revolution of mentalities in France is not about to happen, say the lawyers. But in our society, the facts of harassment have long been denied and suppressed by the companies. That is why today we are witnessing a rather violent denunciation of these facts.

ALSO READ:

"SPECIAL – Matter DSK

The case DSK change does the male-female relationships?

Successful gamble for LinkedIn. The social network dedicated professionals has made a sensational debut on the Stock Exchange on Wall Street Thursday. From the first minutes of listing, the title flew more than 140% to almost 110 dollars. Well above the 45 dollars from his introduction. About 20 hours in Paris, the title continued its surge, climbing 131.31% to 104.11 dollars.

Prelude to this success, LinkedIn had managed to place on Wednesday of 7.84 million shares at $ 45 each, which allowed him to raise $ 352.8 million (248 million euros). Smelling potential, the group had over the day boosted its IPO price of departure.There's another week, it was within a range between 32 and 35 dollars.

According to observers, the success of this initial public offering (IPO) is even more important that the group posted mixed financial performance with net profit after minority interests of $ 3.4 million in 2010, after a loss 4 million dollars last year. Today, this surge in the value to nearly $ 9 billion.

Meanwhile Facebook

This IPO is considered the U.S. as the largest since Google's in 2004. It occurs in a context of market enthusiasm for social networks. Secondary markets, securities linked to this sector are the subject of desire.A recent placement of shares thereby enhances the Twitter micro-blogging site to 7.7 billion dollars (5.5 billion euros), twice more than the recovery underpinned by a previous fundraiser in December . Similarly, an investment fund, which plans to buy a block of 2.5 million shares to company employees, should take the valuation of Facebook up to 65 billion. The introduction of Facebook is also announced for 2012. Other highly anticipated IPOs are like Zynga or Groupon.

Meanwhile, markets are flocking to the first offer is available, namely LinkedIn. The excitement is such that many observers believe that a bubble is being formed in this sector, on how the 1990s. "You have to see what other companies will do. And also what will happen to LinkedIn. There is only one day.You could say this is the beginning of a stage, which will take place over a year or two, "cautions Bill Buhr, however, of Morningstar.

READ AUSIAS:

"LinkedIn strengthens its strategy by moving to Paris

Tenants of social housing are not immune from drastic rent increases. Like every year, the consumer association CLCV has identified breaches of the law practiced by the agencies managing the Public housing (HLM). According to the survey released Tuesday on France Info, they are now 12% exceed their rights by charging rent increases above the limit.

For these agencies, rent increases are restricted by law. Since 1 January 2011 in particular, can not exceed the benchmark rents for the third quarter of the previous year, calculated in line with inflation. This index amounted, in Q3 2010, to 1.1%. The budget law for 2011 provides for exemptions, however.This is particularly the case for some homes have been rehabilitated, or for bodies subject to a reorganization plan, and only if authorized by the prefect.

This year, 4% of housing agencies have therefore waived the rule requiring their tenants rent increases higher than 1.1%. Especially, 8% of them have violated the prohibition to modulate increases in housing rents function. For example, the CLCV said that rents of public housing agency in Ile-de-France increased up to 7% for some units!

Context of budget cuts

L'Union Sociale pour l'Habitat (USH), which represents some 800 housing bodies, regrets his side "lack of seriousness" of the survey released Tuesday payday advance.And stresses that the rent increases exceeding the cap applied to some tenants may face special situations: exceeding the limit of resources, negotiations with the occupier, etc.. "Despite these cases, the average increase in rents raised by CLCV is 1.04%, lower than the ceiling imposed by the law!", Raises the USH.

The federation is also concerned that housing agencies CLCV not insist more on the 33% of housing associations have increased their rent by less than 1.1%. An "exemplary action in a context of fiscal restraint, it is noteworthy. At a time when private rents take off, the public housing are still seen as a remedy to curb spending on housing, says a TNS Sofres survey published in late April. Even if a majority of respondents called for greater transparency in the allocation of housing.

Companies should be more generous with college graduates in 2011, what emerges from the annual survey of consulting firm Aon HR Hewitt, published Tuesday in Les Echos. The results of the survey, their wages should grow by an average of 3.4%. A higher rate not only inflation but also greater than that provided for more experienced managers, whose salaries should rise by only 2.6%.

For the consultancy, this improvement is due to the prospects for recovery of economic activity that are confirmed in many sectors.Exciting news for beginners, almost half of respondents (43%) say they have put in place measures to increase pay specifically for them as elements of variable pay to boost wages, retirement savings plans or stock options. According to Les Echos, the directors of large schools share these optimistic predictions, and indicate that young graduates have no difficulty in finding employment with wages of hiring a good level.

Priority to Bac +5

These increases come after years of stagnation, which partly explains this change was necessary because the catch, especially compared to neighboring countries. Also

However, all graduates will not be housed in the same boat Same day payday loans.If companies want to hire new managers, they are primarily interested in experienced people and benefit increases especially at Bac +5 (or schools of engineering management, master 2 academics). Holders of master degrees or Bac +2, can not rely on such generous increases.

The study also warns against an addition of optimism: the intentions of the companies are in fact mostly higher than the increases actually observed on the ground. And if companies are willing to put their hands in their pockets, they are still cautious. In 85% of cases, the contracts offered to young graduates are initially fixed term, although large groups are more willing to commit themselves to small businesses.According to HR managers, so even beginners may suffer from a market still wait, the real restart was not forthcoming.

ALSO READ:

"Youth employment: Parisot has launched its consultation

"The diploma is a safe bet (study)

"Diversity: Leaders get involved

"Working at McDonald's and to graduate

The young graduates still face the crisis

The real estate market settles down it? If house prices continued to rise in early 2011, at a rate slightly less intense, according to figures released Tuesday by the Chamber of Notaries of Paris-Ile de France. Between November 2010 and January 2011, the average price increase has been reduced to 2.2% instead of 3.4% the previous quarter. Always important, the increase reached 4.3% in the capital, down from the 5.2% recorded between July and October 2010. Little Crown has experienced inflation of 2.6% against 3.2% previously, and the prices had increased by 2% in October in Great Crown, remained stable in early 2011.

This is especially the prices of flats which hold the bull market.At the end of January they rose another 3.4% – against 4.1% in October – while houses showed a very slight variation of 0.1% when they had taken 2.1% three months earlier. Annual rate, price levels of 2011, however, still remain well above those of early 2010 (+11.9% in Ile-de-France and +17.2% in Paris)

Loss of momentum

These statistics confirm the market analysis done by Century 21 at the end of March. The network of estate agents said that while prices were falling even in 8 regions of France. Meanwhile, the volume of sales has also lost some of its momentum, as always with Century 21, a decline of around 3% nationally. Statistics show 10,000 notaries sales for the month of January 2011, against an average 12,600 sales for the month of January classic.

The Chamber of Notaries refuses for now to draw conclusions from this slowdown. 39,700 sales have indeed been recorded between November 2010 and late January 2011, a figure up 17.6% year on year! The pause recorded earlier this year could well be the "backlash of the exceptional activity" at the end of 2010, says notaries in their statement. The announced end January 1, state aid to the acquisition (doubling of interest-free loan, deductibility of loan interest …) has indeed led many households to accelerate their purchases to take advantage. Century 21 also highlights the return to higher interest rates had boosted the market, reaching their lowest level in the second half of 2010. However, it was a few months to see if the lull is long term.

ALSO READ:

"The housing market finds the reason

"The lending rate charged to support higher prices

"Coup brake the rise in real estate

The "hunting land" is open in the capital

"The construction finds its dynamic pre-crisis

"Housing: haro on vacant offices in Paris

"The housing boom turns into ghost town Paris

The financial health of an enterprise and export, two factors that seem inseparable. This is shown in a study published Thursday in the "Economics and Statistics" of INSEE on the internationalization of enterprises. We already knew, the companies on foreign markets have many comparative advantages: they are on average 2.2 times larger than non-exporters, they employ 1.7 times more staff, they pay their employees a wage rates average 10% higher, and their employees have a 34% higher productivity.

"The question is whether this finding extends to the financial health of companies," questioning the four authors of the study. The answer they give is clearly positive: companies with fewer than 500 employees that export, depending on their size classes, a turnover of 25% to 46% higher.They are also more liquid and easier access to external financing.

Less vulnerable

"The fact of export is apparent to domestic investors as a positive signal to business efficiency," says the document paydayloans. The fact of exporting can also facilitate access to external financing, especially capital markets in countries of destination of exports. Moreover, export revenues "allow diversification of the company's revenue, which tends to make it less vulnerable to demand shocks."

But what the study shows is that those companies that export were healthier than others before turning to international markets. "The less financially constrained firms tend to become exporters," the study said.In fact, companies who think internationally to develop seek to be "relatively soon after their birth." So, they seek to loosen financial constraints in order to have the flexibility needed to engage in specific fixed costs of entering new markets. Not having sufficient financial capacity appears as a "brake" for export.

In this context, public policies for financial support to exporting companies are they useful? The authors weigh the pros and cons … but do not decide.

If this hand a little in every sense on tax reform – the removal of the shield and the reform of the ISF – "is that we have great ideas. Sunday invited Grand Jury RTL-LCI-Le Figaro ", the Minister of Economy has expressed that he prefers: taxing income from property rather than the stock. But Christine Lagarde outlined above reframed the debate. Because of the ISF, abandoned by most of the neighboring countries of France, "of course he has people who are leaving … We must be stopped to create an illusion that tax." "There is a requirement of fair taxation, fiscal balance and prioritize investment to remain a country of innovation," she insisted.

Alignment with Germany

Therefore, is "we struggle against the excesses of the ISF, or we invent a new tax of Heritage". A conference to be held March 3, "prune a few branches."In other words, the meeting will put some order in the proposals that go all-out on the subject. The next day, the Court of Auditors will report on the Franco-German comparison, "which will work to harmonize with our neighbor, friend and rival."

On the issue of public finances, the Minister of Economy has been very strong guaranteed high risk personal loans. "We need strict discipline to keep the goals of deficit reduction." France has pledged that the deficit reached 6% this year, 4.2% in 2012 and finally 3% in 2013. Recalling that the process of non-replacement of staff on two retiring continued and government spending (excluding interest expense of debt and pensions) were frozen, Christine Lagarde nonetheless argued that "if must take additional steps to meet our commitments, we will! ".While saying he was "no question of a general tax increase."

The minister has in any case more than ever on a 2% growth this year. "I am very firm on my prediction," she said – certainly to the attention of some experts who find this figure too ambitious. Based on the confidence indices in industry and in services, "I am confident that growth in the first quarter 2011 will be significantly higher than the last quarter of 2010 (which did not exceed 0.3%, a figure which had disappointed). Finally, the Minister of the Economy "hopes to below the 4 million unemployed this year."

ALSO READ:

"ISF: chief of state advocates of" real reform "

The CAC 40 remains in the green on Monday and is close to the precise level of resistance threshold of 4090 points: the index finished up 1.08% at 4090.80 points, reaching its highest level since October 2008.

Enthusiasm in the rest of Europe: the London Stock Exchange appears to increase from 0.89% to 6051.03 points in mid-session, while the DAX index of the Frankfurt Stock Exchange ahead of 0, 89% to 7280.27 points.

After finishing last week in this color, the benchmark index in Paris was reassured by the close up on Wall Street Friday and those in positive territory for major stock markets in Asia this morning.Despite the employment figures in the U.S. lower than expected, investors chose to hold down the unemployment rate to 9%, the lowest since April 2009.

However, caution should dominate trade while the situation remains complicated in Egypt. Moreover, beyond the control of German companies in December, no major macroeconomic statistics is expected in the markets. The week promises to be mostly calm elsewhere on this site but with a few appointments: German industrial production (Tuesday), the weekly jobless overseas (Thursday) and the index of U.S. consumer sentiment (Friday ).

On Monday, the index Sentix investor sentiment in the eurozone in February was nevertheless reached a high of three and a half, to 16 instant payday loan lenders.7 against 16.0 in January and a Reuters poll giving it to 12.5. It is the highest since September 2007.The research firm Sentix said that 964 investors participated in the investigation of 3 to 5 February.

On Monday, investors will still be equally attentive to the speech of the President of the ECB before the European Parliament at 14 GMT. Sunday, Economy Minister Christine Lagarde said that France's economy was still "convalescing".

As for currencies, the euro appears still rising against the dollar. In morning trading, the euro traded dollar 1.3607 (+0.24%).

Hermes: + 0.47% to 149.70 euros

The luxury group said Friday evening that he would reorganize its executive committee as of May 2, 2011, and a branch of the upstream and Attendees include manufacturers of leather goods and textiles would be created.

Christian Dior: + 2.80% to 104.75 euros

The group di wish to strengthen its position in the luxury market in 2011, after posting a jump in 2010 earnings and its sales.

L'Oreal: + 0.24% to 88.98 euros

The board will validate Thursday handover between non-executive chairman Lindsay Owen-Jones and director general Jean-Paul Agon. The handover would take place March 17.

The crisis is no longer relevant to the Davos World Economic Forum which opened today's debate (from 26 to 30 January). Beyond the optimistic forecasts of the IMF, which recently revised upwards its growth scenario for 2011 (4.4%), Nouriel Roubini, famous for having predicted in 2007, here in Davos, the U.S. housing crisis, saw fit to renew his message. It now seems that exclude the U.S. economy and even Europe may fall into another recession, a real change from "Doctor Doom" (Cassandra).

Roubini, who now manages a business analysis of Global Economics, strong one hundred employees, does not mean that growth is higher than current forecasts in the United States, which he said "the strength of company accounts and the return of confidence. "It is more dubious vis-à-vis the eurozone, which it hopes it will survive only as "a political response" to clear a form of economic and political union.

He is particularly troubled by the situation in Spain "too big to fail and to save" (too important to be dropped but also to easily and be saved!). He recommends that Europe is committed to both a more abundant distribution of cash and "orderly restructuring" of certain public debts ". It will be expected to discuss his ideas with Jean-Claude Trichet, ECB president, during a special seminar devoted to "strengthening of the euro".

Inequality: a subject river

If the panic that had dominated the 2009 Forum is a bad memory, the time of trial may well have sounded."We can not let inequalities grow," commented Zhu Min, the special advisor to the IMF (and its number three), namely, citing differences of wealth in the United States, while stating that these inequalities "are everywhere no fax needed payday loans. Including China.

In the short term these inequalities are a danger with the rioting in North Africa caused by soaring food, a subject that is in every conversation.

And more fundamentally it is globalization itself is debatable. "Globalisation has increased world levels of life. But inequality, social barriers and the resurgence of nationalism has revived the specter of protectionism "summarizes a note of the Forum on the increase in risk.

The scourge of unemployment blamed by the Americans

Noting the spike in unemployment among U.S. and Europe, Philip Jennings, general secretary of the World Union of Unions in Geneva, stigmatize "a rotten business model (sic) which has developed economies to its knees." One criticism that American economists virtually the only ones allowed in the Forum of Davos have trouble admitting, even when they are at rather left, as Laura Tyson. This former adviser to Bill Clinton continues to award unemployment mainly to the lack of "training and education" of Americans and reasons "cyclical weakness in demand in the United States."

Neither Barack Obama nor his Chinese counterpart Hu Jintao, nor Dominique Strauss Kahn, have seen fit to come to Davos to discuss these issues in Davos.Nor Dominique Strauss-Kahn, yet very present last year. Some interpret this lack here for political reasons, not to show today with the "masters of the world, in a proceeding known for its ultra-liberalism.

ALSO READ:

"Davos warned against a" social crisis "

At Davos, the owners display a moral found