Business News & Financial News

More than one in two French (56%) spend more than nine hours in the office according to a study of the company Regus, which specializes in work areas. It is 10% more than the British or the Americans. According to Regus, 14% of the French work more than 11h, against 10% abroad.

The French do they work less than others? No, clearly meets the company Regus, a provider of workspaces. She has just completed a survey of 12,000 companies, working in some sixty countries. And she said, 56% of French people spend more than 9 am at work, against 48% for the average of other nations. In comparison, 46% of the British and Americans work more than 9 hours, 32% of 47% Chinese or Japanese. Germans (59%), Indians (55%) and Brazilians (60%) are in turn more likely to work as hard.In France, the overuse of long-term work could have a negative impact on both health assets and productivity as a whole in that overworked employees are at risk of becoming dissatisfied and suffer a real imbalance between the private and professional sphere "commented Frédéric Bleuse, CEO of Regus France.

And internationally, are teleworkers (broadly those with no fixed office) that are most likely to spend 11 hours a day at work. Not under 14% do so, against 6% for office workers fixed. They are also more likely to take work home at night to finish it. Indeed, 59% of teleworkers work at home win more than three times a week, as against 26% for office workers fixed.

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General Motors announced Monday the retirement of Nick Reilly, current head of the European activities of the group and its replacement next year by Karl-Friedrich Stracke.

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.

Cigarette packs will cost on average 30 cents more starting Monday. This should bring 600 million euros to the state in one year.

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. "

Greece, which bends under the weight of its debt, should go ahead with the reforms advocated by its international donors at risk of serious consequences, said the governor of the central bank of Greece, George Provopoulos.

"Either we proceed immediately to implement significant structural reforms and monitor the dynamics of the debt or we face a dramatic situation," said Greek central banker in an interview to the newspaper "Sunday Real News".

For the man who sits on the Board of Governors of the European Central Bank (ECB), the realization by the firm BlackRock Solutions for an audit of the loan portfolios of Greek banks should help them to regain access to market financing.

Safran's aerospace equipment will make its entry into the CAC 40 index, while the bank Natixis is about to leave, said Friday the Scientific Council of the indices of NYSE Euronext.

In a statement, the Council states that these changes will take effect from the trading hours of Monday, September 19.

The entrance to Saffron in the benchmark index of the Paris Stock Exchange was expected, but the output of the subsidiary of BPCE (People's Bank – Savings Bank), one year after its entry into the CAC, was least, the market until a further release of Suez Environnement.

The action Natixis lost 17.59% of its value since the beginning of the year and 41.4% since September 17, 2010, its entry in the CAC.

No comments could be obtained immediately from Natixis or Safran.

The Scientific Council of the indices of NYSE Euronext has also decided to introduce in the SBF 120, IT group Bull, the specialist in bioanalysis Eurofins Scientific and Virbac Animal Health Laboratory, and the output of specialist allergy treatment Stallergènes .

Companies in the manufacturing sector have seen a slight decrease their investment plans for this year and now expect an increase of 14%, shows the quarterly survey conducted in July and published by INSEE on Friday.

In the previous survey in April, the business leaders the industry planned to increase investment by 15% in 2011.

Last year, these investments have increased by 1%, says the National Institute of Statistics and Economic Studies, while the April survey estimated the stable.

For 2011, the downward revision of forecasts from one quarter to the other "is attributable to the sector" other industries "(-3 points), especially metal or wood working, and the sector electrical, electronic, computer and machinery (-2 points), "INSEE said.

"For the first half of 2011, entrepreneurs in the manufacturing sector confirm the progress of their investments over the second half of 2010, early in January. For the second half of 2011, they plan to increase their investments over the first. "

Investment in the industry represents about one quarter of productive investment in France.

Nicolas Sarkozy and Angela Merkel Wednesday wrote to Herman Van Rompuy to ask him to chair the euro area, as they had announced the previous day. From there to talk about a government of Euroland, there is not that member states are not about to cross. Nicolas Sarkozy and Angela Merkel suggested Wednesday, August 18 to Herman Van Rompuy to chair the government's economic futut the euro area.

Following a two-hour meeting at the Elysee Palace, Nicolas Sarkozy and Angela Merkel proposed Tuesday the creation of a "real government of the euro area" which is moving, they say, "to economic integration enhanced ". This government will meet twice a year. Its president is elected for a term of two and a half years.The French president and German Chancellor wrote Wednesday to the current president of the European Union, Herman Van Rompuy, to offer him the position.

So far, only there – permanently – the Eurogroup, the Council of Ministers of Economy and Finance of the euro area, chaired by Jean-Claude Juncker of Luxembourg, which meets once a month. Its authority and ability to coordinate the economic policies of Member States leaves much to be desired – his decisions must always ultimately be validated by the Heads of States and the differences between the growth strategies of countries have increased.As for the many recent and between heads of state, they only occurred against a background of urgency of the crisis.

"The government of the euro area, it's dressing, it is a structure that builds to existing consultation bodies, said Henri Sterdyniack, an economist at the OFCE and the University of Paris Dauphine. A government, then a leader and ministers, who decide on the budgetary and fiscal policy. I do not see how a meeting twice a year the heads of state will change the economic governance of the euro area. "

Economic governance must be ways

"Having an institution at the level of Heads of State and Government to take stock of the euro area is a good thing, for its part considers Stephane Cosse, responsible for the economy to the modem. But we can not about economic government.This would require a European finance ministers in charge of ensuring consistency of the budget guidelines state, assess their financial needs, overseeing the issuance of treasury bills in Europe, and to embody the political level the unit of the euro area ".

Herman Van Rompuy can embody this super minister? This would give him space. Or whatever the skills of the former Belgian Prime Minister, he will remain a prisoner of the procrastination of European states and their leaders. And especially since his appointment has already been placed under the supervision of the Franco-German couple. In addition, an economic government must have the tools at its disposal to go far from folds fiscal year integration, such as Eurobonds. These were rejected by Paris and Berlin.

"The euro area as constructed has no budgetary authority and tax.As this power will not exist, the market will think he can win, says George Soros in an interview in Le Monde dated Thursday, August 18. "Europe is in danger," concluded the Hungarian-born American financier.

Fitch Ratings said Wednesday it lowered its rating on Cyprus of "A-" to "BBB", but considered likely that the country has to rely on outside help to ensure its funding needs.

The rating agency said its new rating, which is attached a negative outlook, taking into account the fiscal slippage and expectations of seeing the country no longer have access to capital markets during the second half of 2011.

Fitch added that it could deteriorate further note of Cyprus about new fiscal slippage and a lack of political will to implement austerity measures.

Fitch is the decommissioning of a few weeks after those of Moody's and Standard & Poor's.

The new Cypriot government on Wednesday introduced an austerity plan of 600 million euros, consisting mainly of tax increases, to reduce the public deficit to 2.5% of gross domestic product (GDP) in 2012.

Standard Chartered, British bank that makes most of its profits in Asia, reported Wednesday a better than expected taxable income in the first half, benefiting from strong growth in emerging markets.

The hotel, which looks set to record another year of record profits, generated a taxable income of 3.636 billion dollars (2.56 billion euros) in the first six months of the year, against 3.12 billion a year ago and 3.47 billion expected by analysts, according to the Thomson Reuters consensus I / B / E / S.

"Our expenses remain firmly under control (…), Which does not prevent us from start to accelerate investments to support growth in 2012, "said Peter Sands, CEO of Standard Chartered, said in a statement.

"We are a very good momentum and we continue to gain market share on a range of products and in many areas."

In 2010, Standard Chartered, in direct competition with HSBC to attract the best employees in Asia, was weighed down by higher costs higher than revenues.

This year, the bank expects a similar pattern of costs and revenues.

To keep costs under control, many banks have eliminated positions, like HSBC and Credit Suisse, which will eliminate 2,000 jobs and 30,000 respectively.

Standard Chartered has said removing 800 jobs in the first quarter, while providing a net increase of one thousand the number of employees throughout the year.

The bank, whose title listed in London fell by 11% since the beginning of the year, currently has 85,000 employees.

Income from India, its largest market, fell by 39% and Standard Chartered said that the short-term outlook remained difficult in the country, the slowdown will be more rapid and marked initially anticipated.

Elsewhere in the European banking sector, Societe Generale, which has depreciated the value of its debt to the Greek State in the second quarter, has abandoned its goal of Wednesday net profit of six billion euros in 2012, signs of a deterioration of the economic and financial environment.

PPR saw its operating performance brought by luxury semi which enjoys an application whose force can not be denied.

The luxury group and distribution, which owns Gucci, Puma, Redcats and Fnac, saw sales rise by 7.3% in the first half to 7.2 billion, a figure close to the consensus of analysts polled by Reuters (7 , 13 billion).

Like Hermes, LVMH and Burberry, before him, the luxury division of PPR has far exceeded analysts' expectations, with organic growth of 23.2% and 24.4% in the second quarter alone (against 19% expected), marking a further acceleration from a leap of 22% in the first quarter.

In contrast, the distribution center, to be sold by the group, saw its sales fall by 1.4% semi-annual (on a comparable basis), weighed down by poor performance of FNAC (-3.2%) to facing an extremely difficult environment in France, while Redcats (Distance Selling) fared better (0.8%).

The sporting goods company Puma has seen its sales increase by 9.4%.

Current operating income rose 14.5% to 749 million euros (730 million expected) and net income excluding items increased 24% to 466 million euros.

The title PPR closed at 129.85 euros at the Paris Stock Exchange Thursday, signing a 9% increase since the beginning of the year, for a market capitalization of 16.3 billion euros.

At these levels of price, value is treated on valuation multiples of 13.4 times its estimated earnings for 2012, far behind the "pure" players like LVMH luxury (19 times) and Richemont (16.4 times).