After the United States and the European Union, the Arab League threat of economic sanctions against Syria. The organization includes Saoudi Arabia, Iraq and Egypt imposed an ultimatum: if the power does not stop the violence against his people, the organization will hit the country in the PORTFOLIO. But these economic sanctions have their limits. Explanations.

Imposing the sanctions and how?

So far, it is especially the European Union has shown.Moreover, tourism is affected: it reported 6 to 7 billion euros last year and represents 12% of GDP. "The economic machine is running at 40% of its resources today," said Hasni Abidi, director of the Centre for Studies in the Arab world (CERMAM). The possible sanctions of the Arab League at the end of their ultimatum could further exacerbate an already fragile economy. "States of the Arab League import a lot of fruits, vegetables and grains, Syria has a highly developed agriculture. If you stop overnight, these imports, it's a catastrophe for the country," said the researcher. The situation is so delicate that the Minister of Economy has just imposed a drain of $ 10 on the salaries of civil servants to bail out the state.

The latter will take office as president of GM Europe on 1 January while retaining his current position as CEO of Opel.

General Motors had appointed in March the former head of engineering at the head of the European manufacturer Opel.

The government will hold meetings arbitration throughout the weekend before the announcement, probably Monday, a new set of anti-deficit measures which a light could be a new day of solidarity, has said on Saturday a government source. "Conciliation meetings will be held the weekend before the ads are likely to take place Monday even if it is not yet confirmed," it was said the same source.Announcement of details of the measures occurring after a cabinet meeting postponed to Monday exceptionally due to preparation of the G-20 summit last Wednesday.

According to reports in the Journal du Dimanche, a government source confirmed a second day of solidarity is under consideration. Founded in 2004 after the 2003 heat wave, the first Solidarity Day is a day of unpaid work whose fruits fund the care of elderly and disabled. Originally set for Monday of Pentecost, that day, which reported 2.4 billion euros in 2010, has since 2008 organized "a la carte".

Other measures to be announced Monday include the raising of the reduced VAT rate, from 5.5% to 7% for the restoration and renovation of housing.

"The risk is that a 'no' to the Greeks do completely derail the rescue efforts. With a vote expected in January, I can truly say goodbye to the rally of the season," said a trader based in Paris.

The Euro Stoxx 50 index of volatility, a "barometer of fear" in the financial markets, jumped 20% in opening sign of the strong concern room.

In Paris the CAC 40 fell 3.3% to 9:40, passing below the 3200 to 3135 points, weighed by banks.

"(…) The offer was unacceptable because it would have resulted in the modification of all control clauses, which would have wanted to cause the end of Saab, "he told Reuters at Victor Muller of a telephone interview.

Thursday, Swedish Automotive received a lifeline from North Capital, an investment fund and U.S. hedge fund manager, who made $ 10 million in capital and a loan of 60 million to fund activities Saab.

After opening down more than 10%, the Swedish Automobile action, very volatile, losing to 8:50 GMT, 2.35% to 0.83 euro. Since the beginning of the year, it fell some 75% due to severe cash flow problems of the group.

Victor Muller did not disclose the amount of the offer of two Chinese manufacturers, adding that they were still interested in Saab, they must abide by the terms of the agreement signed in July, stating that they all take 53.9% stake in Swedish Automobile.

Saab went from crisis to crisis this year. It closed in April, unable to pay its suppliers to whom he owes more than 150 million euros.In August, it was no longer able to pay salaries.

Saab was bought by the Dutch Spyker, now Swedish Automobile, General Motors in early 2010.

Since 21 September, Saab has been under the protection of its creditors pending bailout Youngman and Pang Da, who had committed 245 million euros in July.

SAAB can be profitable

A Swedish court has said that he had received a request for release of Saab's system of protection for creditors.

This prospect does not frighten Mascioli Alex, an avid race car, which confirmed to Reuters that his company North Street Capital LP was well invest $ 70 million for Saab to continue operating.

"I expect that the transaction is done. I am ready to do what I can with my resources for Saab," he said by telephone.

The Swedish court said it did not decide on Saab on Friday, adding that he would decide on the reorganization of the manufacturer at the end of next week, at least before a meeting of creditors scheduled October 31 .

Victor Muller said that the Swedish government was not interested in buying Saab.

"There's always a plan B," he said when he was asked what would happen if Chinese automakers abandoned their project.Asked about the plan, Victor Muller said he would reveal "only if we use them."

"It was Victor decide. He struggled a lot to try to save the company. For now, there is an agreement with the Chinese," said Alex Mascioli for his part in response to the question of whether he was willing to invest in the place of Youngman and Pang Da.

Saab is an undervalued asset that will survive and which could generate profits, Mascioli Alex continued, adding that North Street could afford to take Saab if the manufacturer wanted.

Thefts from shops are starting to rebound in France between the mid-2010 and mid-2011, rising 2.9% in value, according to a study published Tuesday, pointing a "professionalization" of shoplifting .The study, conducted in 43 countries by the Centre for Research in the distribution (Center for Retail Research, based in England) from 1187 groups to the security company Checkpoint Systems, as the "shrink", that is ie the difference between theoretical and actual stocks, resulting from theft, but also of administrative errors or suppliers.

In France, the bill for the distributors is rising again, to reconnect with a sum amounting to two years ago, 4.9 billion euros, or 1.40% of turnover, against 4.7 billion euros, or 1.36% of sales a year ago. The equivalent, according to the study of an annual tax of 200 euros per household. Retailers believe that the flights are 44% committed by customers, 30.1% and 7.2% staff from suppliers.

The shoplifting is becoming more professional

"Thieves better information more easily thwart the standard features of security and those who get caught are the thieves who are casual, with smaller amounts," he told AFP Cedric Brossard, marketing director for the textile division of Europe Checkpoint Systems. "There is a professionalization of the flight," which becomes "a real job for some people with real orders," he said, citing "a lot of distributors who believe they have experienced an increase in organized crime." "Whenever there is a new product, it may generate a black market," he added.Conversely, he does not think that inflation on food products has had a significant impact on the increase in theft, noting for example that the coffee was already one of the most stolen.

In Europe, the thefts have increased more strongly than in France, 7.8%, but to a lesser extent, or 1.39% of sales of 36.23 billion euros. The average amount of shoplifting it was down 17.5% to 93.85 euros and the flight staff down 27% to 1,381.4 euros. Globally, the flights were up 6.6% to 88.88 billion euros, or 1.45% of sales distributors, against 1.36% a year ahead. Always at the center of envy, products expensive brands and smaller, easier to conceal and to spare."The flights do not give priority to basic necessities," the study said.

Fashion accessories among the most stolen

Among the most stolen items, fashion accessories, food products high-end such as meals and spirits, articles health / beauty products such as shaving and perfume, or technology products, such as MP3 players and smartphones. In Europe, the increase in shrinkage occurred despite an increase of almost 2% to 8.45 billion euros in spending on security and loss prevention, or 0.30% of turnover Distributors. "Those who have limited or theft managed to bring it down have introduced a multitude of solutions, unfortunately there is not a quick fix," said Mr. Brossard.The number of shoplifters and dishonest employees arrested by the distributors of the year under review exceeded 6 million, according to the study.

Cigarette packs will cost on average 30 cents more starting Monday in France, a 6% increase sought by the government should have little effect on consumption, but that will bring 600 million euros a year in State to Safely smokers will find it in a package less than 5.70 euros in their tobacconist. For the first time, the Marlboro (the best-selling package with nearly 25% market share) will pass the bar 6 euros to 6.20 euros.The government has allowed manufacturers to revise their prices, anticipating an increase in minimums of perception which must be passed by Parliament in the law on financing of Social Security.

This increase was announced by Prime Minister Francois Fillon, in late August, when presenting the plan anti-government deficit. It should bring 90 million euros this year and 600 million in a full year.

Taxes are 80% of the price of a pack of cigarettes. Most (over 10 billion euros in 2010) goes into the coffers of the social security system. Fillon also announced a further increase of 6% in 2012, without specifying the date. This is the third consecutive year that the cigarettes in the fall recorded such an increase (30 cents per pack), well above inflation.However, sales have never declined so far in the same proportions.

54.8 billion cigarettes sold in 2010

Thus, it has sold 54.79 billion cigarettes in 2010 against 54.98 in 2009, a mere drop of 0.3%. At the same time, the amount of rolling tobacco rose from 7257 to 7598 tonnes (+4.7%). In total, sales of tobacco (including cigars) increased by 0.14% by volume, according to figures from the observatory of drugs (OFDT). Again this year, cigarette sales in late July had declined by only 0.6% in volume compared to 2010.

Value, because of previous price increases, the market is increasing by about 5%. Growth shared by the state (almost 13 billion euros in 2010, including 2.5 under the VAT), tobacconists (8.2%) and manufacturers and distributors (11.8%). The anti-smoking groups believe that any increase less than 10% has no effect on consumption.The Office of Tobacco Prevention (OFT) ironically on Monday up seeing an "application" of the state "to the tobacco industry for agreeing to increase by more than 100 million profit."

Tobacconists and manufacturers recall their part that a sharp increase has an effect on sales in tobacco shops, without lowering consumption, since it encourages smokers to buy abroad or from resellers on the sly. A study of Customs estimates that 20% of cigarettes smoked in France are not purchased in the network of tobacconists, but fraud (5%) or legally (15%) in the neighboring European countries (Belgium and Spain) where the package is sell up to 30% cheaper.

These purchases, which exploded after the sharp increases in tobacco prices in 2003/2004, affecting particularly border trade, result in financial compensation from the state to tobacconists.A parliamentary report issued in early October to the Minister of Budget, recommends "a convergence of prices of tobacco in France and in neighboring states," but also "to reflect on the taxation of rolling tobacco" for "contrecarrrer the substitution effect for each increase in the price of cigarettes. "

Article first published on LExpress.fr

In shock. Back Thursday night in Lorraine, Edward Martin, the CFDT delegate of ArcelorMittal Florange, found the words to shout his anger. "At noon, I was unable to speak," he admits. Hours earlier, he was still in Luxembourg, following a meeting of the EWC's No. 1 global steel industry. Meeting at which management claimed to have nothing to say to the union representatives, while in Belgium, the Walloon region have learned announced the closure of two blast furnaces in Liege. "The Belgian colleagues were crying," said Edouard Martin.Both blast furnaces were arrested temporarily. Florange such as: one ceased operations on July 6, the other on October 4. "How to extend credit to the word of Mittal who say one day it will not close and decide the opposite the next day? Edward Martin gets carried away. Eric Besson does not doubt the word of Mittal? It is more naivety is complicity! "

A Florange, fear is escalated after the announcement that hit the site of Liege. The area has already seen the closure of the steelworks in Gandhinagar in 2009. Teams know that ArcelorMittal wants to improve the productivity of blast furnaces and focus activity on large-capacity facilities, located by the sea, more profitable (Fos and Dunkerque in France, Ghent, Belgium, Bremen, Germany , Gijon, Spain).Seven sites in Europe are now involved in the activity stops, France, Belgium, Germany and Spain. On September 23, at the investor day in London, the management of Mittal announced an "optimization plan assets of € 1 billion" in the old continent.

"We wondered where it would find one billion, one begins to understand, but this is not enough, loose Edward Martin, furious. We always used the same refrain, the temporary closure. Until punch in the stomach the final decision. It is sure that with the presidential election, it would make a bad impression to announce closure of Florange. But what will happen there in June 2012? ". Segolene Royal after a fortnight ago, François Holland a week ago, Jean-Luc Mélenchon which is Florange this Friday, October 14. "But we are disgusted by the silence of French and European authorities, denounced Martin.Libya is saved, we save the banks, and we? We will not let them kill Florange. For thirty-three years I worked here. This plant is ours. In 1992, there had been 1.5% of payroll to pay for a new galvanizing line. They killed Gandhinagar, they will not kill Florange. Angry? Today, it is not anger, it's disgust. "

"At the moment, there is no impact on our sales," said Patrick Thomas told Reuters, adding that think the purchasing power of customers in the luxury had not yet been assigned.

"The fact that it does not see today does not mean it will not happen", he warned, however.

"When there are moments of macroeconomic concerns, it always results in our businesses."

The values ​​of luxury was heckled last week in the markets, amid concerns about the evolution of the Chinese market and the strength of demand for luxury goods in slowing global economy.

Patrick Thomas, however, has sought reassurance about the level of sales of Hermes in September. "September went well," he said.

In addition, the manager of the saddle on the Rue du Faubourg Saint-Honore said Hermes would soon create the family holding to sanctuaries a majority stake in the group face to the appetites of LVMH.

"It'll be soon. There are many administrative procedures," he said.

The consortium, composed of the four largest banks, pension funds in four of the country and one of the largest life insurers in North America, also said he continued to work to get the go Green regulations for its offer of 50 Canadian dollars per share.

TMX and the London Stock Exchange had agreed to merge earlier this year before the LSE does not waive lack of sufficient support from shareholders of TMX.