Current News Headlines

The fireworks on July 14, is sacred in many municipalities, but not Mennecy. This town of Essonne is indeed one of the few to have made the choice to give up for budgetary reasons. "This is the third consecutive year that we do not celebrate the national holiday, says Elizabeth Vasseur, deputy mayor. It is a decision we made when we arrived responsibilities. Given the state of public finances, we have chosen to focus on building maintenance, or renovation of two schools being. Because we do not want to raise taxes, "she argues. The savings amounted to ten thousand euros. If people have stayed up Mennecy perhaps no worse the other 364 days of the year, few cities, however, he followed suit.

For the celebrations of July 14 remains a symbolic moment for which the municipalities continue to invest in broadly stable, despite the severity of wind hovering at the national level. In Paris, the budget devoted to one of the biggest fireworks of the Hexagon is constant since 2001. An investment of € 500,000 by July 14 to 30 tons of powder and 30 minute show. "In the current economic climate, we did not want that expense increases, say to the City of Paris. But it seems important to properly celebrate this national event. " Same story in a smaller city, Chalon-sur-Saone (71), where the budget for fireworks is roughly the same from year to year, despite a desire for renewal: "Our budget is constant for 5-6 years, explains Cédric Sementi, responsible for the event.But we chose this year to remove the sound of fire to prolong the duration of the show. " In total, 14 July festivities will be spread over five days in Chalon whole through the operation "Summer Sonatas" paydayloan.

The fireworks, creator of the social bond

Jacques Couturier Organization, which has won this year's market fireworks in the city of Paris, his explanation for this relative constancy: "The fireworks created a social bond that we all need in times crisis, analyzes its founder. Increasingly, we are asked to create fireworks outside the July 14, for example recently at the Championnat de France cyclist Vendee. Especially since the resources allocated to the festivities usually remain small relative to the overall budget of Commons.In Sceaux (92) – which does more than fireworks on July 14 for 10 years, preferring the fires of St. John – the various festivities cost about 200,000 euros to the municipality, with a total budget of 30 million. "This costs in a city hall, which is most likely to suffer from the crisis, are the social or educational expenses," said Philip Lawrence, Mayor of Sceaux.

Among Europe's leading fireworks, Lacroix-Ruggieri, there is however a slight decline in budgets. The amounts invested were stable in 2009, but budgets have contracted by about 5% this year. "All budgets ranges from 2000 euros to 500,000 euros, have been involved," says Jean-Michel Dambielle, Director General Operational Group. And if the national holiday of July 14 is still with us, removal of business tax still worried the bomb."The fiscal autonomy of municipalities will decrease their budgets might be affected, analysis Picard, CEO of Group F, creator of the fireworks in Paris in 2008. Will we still saved? We'll see next year. "

ALSO READ:

"Where to go dancing at the ball of July 14?

J-1. That Tuesday morning Eric Woerth will present his Cabinet bill on pension reform. This text provides for the postponement by 2018 the legal age of retirement at age 62 (as against 60 now) and increase by 2020 the contribution period for a full pension at 41 5 installments. It also proposes to raise over 10 years to 10.55% of gross salary pension contribution rate of employees.Meanwhile, the government plans to introduce draft consideration – unprecedented – the strain at work to enable employees who have had a difficult career to continue to retire at age 60 but also extend the system "long careers "which allows people who started working early to liquidate their retirement before age 60.

"Unjust and unacceptable"

Trade unions, traditionally opposed the reforms they consider "unfair and unacceptable" because it would further inequalities have already planned to protest during the presentation of the Council of Ministers."The proposed reform does not respond to questions of employment, particularly youth and seniors, or the reversal of gender inequalities, or to the recognition of the hardship … It refers to the uncertainty of future generations sustainability of pension secured by the division, they were justified in a statement. They also criticized the closure of financial reform that puts "more than 85% of efforts" to employees only and require "a different distribution of wealth produced, particularly through higher taxes than expected capital income and senior income.

Eric Woerth's proposal to improve the bill at the time of the examination to the National Assembly from September 7 on three aspects of the text (strain at work, and long careers polypensionnés) has yet not had the desired effect.Even the beginnings of a better consideration of the prevention of the hardship brought up by the entourage of the Minister of Labour at a meeting with labor, has left them unmoved. "We want a broader discussion, said Friday Eric Aubin, the negotiator of the CGT, after an interview Rue de Grenelle. The position of the government that it seeks to show a continued dialogue. But we ride seriously and it confirms our intention to build a strong mobilization on September 7. "

On this day, the unions have scheduled a new day of strikes and unit mobilization, hoping to do better than June 24 when 800 000 people (and by 1.9 million CGT) had beaten the streets across France to protest against the postponement of 60 years. And thus weigh more on debates in Parliament.They do not despair, no longer convinced by that number of MPs to amend by Social Affairs Committee – where the text will be examined from July 20 to 22 – the bill. The CFDT has also planned to "harass" the summer MPs in their constituency. Act II of the 2010 pension reform does so may just be beginning.

"SPECIAL – The challenges of pension reform

Eighty days after the explosion of the platform Deepwater Horizon BP, while 35,000 to 60,000 barrels of crude continue to flee each day in the Gulf of Mexico, the Administration faces Obama in the oil industry courtrooms.

Latest twist, a Louisiana appellate court has imposed a setback Thursday at the White House. On 22 June a judge in New Orleans overturned the six-month moratorium on new offshore drilling more than 150 meters deep, decreed by the Obama Administration. The magistrate ruled the gel arbitrary, decided by him without consideration for its regional economic impact. The executive has therefore appealed and lost again on Thursday.

Thirty drilling platforms in the Gulf these are now hostage to this legal battle.The cost of leasing a drilling platform is estimated at 1 million per day. As a result of thirty platforms in the Gulf, the bill accumulated over three months would amount to 2.7 billion dollars for companies exploring the deposits of the Gulf. The extension of the moratorium could put 50,000 employees out of work in Louisiana and the neighboring oil states.

Go drill "elsewhere"

Along with judges, elected Republicans deposit burst of bills or amendments to overturn the moratorium. For its part, the British government also said to be opposed to a freeze of all offshore drilling and focuses on a case by case basis. "We will not allow drilling until we have no assurance that the plans for all wells (…) represent what can be done better," says the UK Department of Energy.

Already, several U.S. companies threaten to go elsewhere to drill. "If the moratorium is maintained, we will have to redirect our resources to other parts of the world we are authorized to work," says one at Exxon Mobil, the first American company. In the U.S., the oil sector is characterized by the presence of a multitude of small companies, which bore alongside the majors. Thus, Swift Energy, based in Houston, told AFP that she was going to drill more in Texas, on land, at the expense of its operations off the coast of Louisiana.

In California, oil companies had rejoiced the green light to drill offshore, given by Barack Obama just days before the spill.The disaster has brought back the White House on this concession to the oil lobby for support of allied Republicans in Congress on the draft energy law discussed step by step for over a year. The company Venoco, which had projects off California, will focus on its land drilling. Problem: the volumes available in the ground are much lower than those buried under the ocean floor.

Ensuring pension "adequate, sustainable and safe". That is the goal set by the European Commission on Wednesday, opening a public debate across Europe about pensions. One way for Brussels to contribute to debates in the member states, faced with increasing public deficits and debt.

France initiated its reform, that the legal age of retirement will be pushed back 60 years to 62 years by 2018. By 2029, the Germans to retire at age 67 instead of 65 today. Spain, whose age is currently 65, is studying a similar scenario. Finally, Great Britain, the legal age could be raised to 68 years.

These measures are widely endorsed by the European Commission, who said in a Green Paper published today on the occasion of the opening of public debate."In all Member States, an aging population weighs heavily on the existing pension plans, and financial and economic crisis has only increased that pressure," said a statement in Brussels with its consultation document.

"In Europe it is expected that the number of retirees will double by 2060 compared to the number of people who fund their pensions: the current situation is simply unsustainable. To remedy this, it is necessary to consider carefully the balance to be struck between the length of working life and in retirement, "said European Commissioner for Employment, Laszlo Andor in this release.

An average exit age increased to 70 years by 2060

Clearly, the EU executive urges EU states to a widespread decline in the age of retirement, at a time when people are living longer while birth rates are sliding. "In 2008, there were four people of working age (15-64 years) for every citizen of the European Union (EU) aged 65 years at least. By 2060, this ratio will drop to two for one ", explains the Commission. The latter considers that the average age of retirement should be raised from 65 to 70 years by 2060 to maintain pensions at their current level.

The consultation opened on Wednesday last four months, until November 15, 2010. To mobilize the citizens, the Commission established a website to collect the views of each.Based on a recent Eurobarometer survey, Brussels says that Europeans are ready to accept the measures taken by EU governments. The survey found that "73% of citizens of the European Union provide a clear decrease in their retirement or think they have to work longer or save more for their old age."

ALSO READ

"Pensions: the Government will not retreat

"The French accept retirement at age 62

"SPECIAL CASE – Retirement: Issues of reform

Following the adoption of Australian tax on the profits of mining companies, the big names in resume their expansionist movement. Thus, the head of Rio Tinto's Sam Walsh, said further negotiations with the regulators in different countries to complete the planned reconciliation with rival BHP Billiton. Moreover, the multinational was considering expanding its new site for the Pilbara with an investment of 10 billion dollars. The Anglo-Australian group wants to increase its annual production of iron ore of 330 million tons within five years, against 230 million today.

Anglo American is activated

The Anglo-South African Anglo American sells, in turn, coal mines in Australia to a consortium of South Korea's Korea Electric Power Corporation (KEPCO) and POSCO, and the Australian Cockatoo Coal for 500 million dollars.Finally, Banpu, Thai producer of coal, wants to increase its shareholding in the Australian Centennial Coal, up 80% to $ 1.7 billion.

Many projects had been put between brackets, because of the uncertainty surrounding the new tax taxing up to 30% profits of mining groups.

G20 warned. Beware of excessive rigor. That's good, the government has always had something in horror. Rigor. However, in the fall, it will be many rigorous measures to be announced. Nonetheless, France has heard this message. This Sunday, at the Economic Forum, held annually the weekend by the Circle of economists, Christine Lagarde, Minister of Economy, has found a new formula. The "ri-lance, a mixture of rigor and recovery. "Renewal or rigor, this is not a choice, not a Gordian knot for me," she said.The economic policy that we are in France now is a political ri-lance.

So precisely what does she mean by "ri-lance? This is a "delicate balance which is really to reduce public spending where it will be less painful for the prospect of reviving economic activity," she says.

Another question: how to implement it? "We must carry out fundamental reforms such as pension reform and revitalize the economy by insisting on nvestments and innovation.

Reducing public expenditure without forgetting to relaunch growth. Such is the creed of the government, which needs to 100 billion euros in savings in three years and above who expects growth of 2.5% in 2011 as in 2012.Ambitious requires a real fight economic policy and especially a real global coordination.

The last summit of the G20 in Canada had indeed left a clear dissonance in this area between Europeans and Americans. They demanded that the Europeans do not all implement the same time austerity plans, fearing for U.S. growth.

ALSO READ:

"The government is preparing new austerity measures

"Fillon preparing the French to the rigor

"Growth: Lagarde await fall

The G20 warns against excessive rigor

The boss of General Electric has no language in his pocket! On the occasion of a dinner in Rome, Jeffrey Immelt said that China would "the real concern," reads the columns in the Financial Times. He said the meeting today, the middle kingdom "the worst working conditions in 25 years." The leader has disavowed the policy of the Chinese government he accuses of becoming increasingly hostile to multinational companies.

Thus, the officer warned that General Electric (GE) is looking for growth opportunities outside of China, so as not to be "colonized by Chinese investors," says the boss. Despite the importance of the market, Jeffrey Immelt said that GE "is now turning to other countries rich in raw materials." The Middle East, Africa, Latin America and Indonesia are in the viewfinder.The officer has been loud and clear the feelings of many companies operating in China. The European Chamber of Commerce has in fact recently reported an uproar among foreign groups in place of the emerging economic power saving account payday loan.

In addition, Jeffrey Immelt has made some unkind towards the Obama administration he blames the poisonous climate in the United States. It is also concerned that regulatory changes desired by the White House have a negative impact on the fragile recovery in the United States. And according to the officer, the U.S. business community would not appreciate the President of the United States, and vice versa.

Not the opinions of the group

But the group tries to reduce the scope of the declarations of his boss.The U.S. giant said that the leader was speaking at a private dinner and that the statements reported are not exactly those of Jeffrey Immelt. GE Jeffrey Immelt said in particular that was not directly involved Barack Obama. In addition, the group says that the speech did not reflect the opinions of the group.

Click on the thumbnail to enlarge the graphics.

Formality. Unless disaster, Laurence Parisot should be re-elected Thursday as head of MEDEF for three years. The boss of bosses is the only candidate to succeed him and won the support of 40 members of the executive board present at the May 31 (out of 45 members) in a secret ballot.

The boss of bosses was the only candidate to succeed him (photo credits Jean-Christophe Marmara to the Figaro).