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The U.S. stock markets have opened slightly lower Monday. In early trade, the Dow Jones ceded 0.17% to 12,132.64 points and the Nasdaq 0.23% to 2672.49 points. On Friday, the New York Stock Exchange ended in the green, driven by the hope of breakthroughs on the front of the crisis in the eurozone.

The events in Europe during the weekend still seem to dictate the evolution of Wall Street. Since the appointment of Lucas Papademos, former European Central Bank, to head the new Greek government was followed by that of the former European Commissioner Mario Monti as the new prime minister in Italy last night.

The news could not have come at a worse time. According to data recently published by the Ministry of Labour, the number of registered unemployed at the end of month employment center has increased again in September. And not a little: from 26,000 in Class A (unemployed who have not worked at all) and 27,600 in categories A, B and C (including job seekers who have had a reduced activity during the month ).

By category, so there is between 2.78 and 4.175 million unemployed in France. A level not seen since January 2000 in Class A and never reached at all, the combination A, B and C.Results for the six months to less catastrophic for the presidential and the more so as the number of registered unemployed in category D (that is to say, training, training, illness or device reclassification as contract Professional security and therefore not required to seek work), jumped 3.8% in September after several months of declines or relative stability. Proof, if needed, that the social treatment of unemployment on public money is well and truly left full in September.

In a statement, Xavier Bertrand "takes note of these poor figures related to the downturn." The Minister of Labour and Employment took the opportunity to recall the "absolute engagement" government "on the employment front, especially for young people."And for good reason: the number of under 25 not engaged in any activity which have registered at employment center grew 0.6% in September, bringing down over-year to 2% when it was over 6 % on the first months of the year.

It is mostly young men who enrolled en masse in September (1.3% against 0.1% for young women)."The new measures already in force of the law of 28 July 2011, including the ability to start an apprenticeship contract immediately without learning, practical solutions to the challenges made in the field should enable all young people wishing to enter alternately you can do, "warns, however, Xavier Bertrand cashadvance.

Sudden economic downturn

The Minister did, however, no word in the direction of the unemployed and senior long-term which, when not hurt, have been hard hit by the economic downturn last month. The number of unemployed people over 55 increased by 2.1% in group A (a jump of 14.3% over one year) and that of long-term unemployed, 0.7%.

The cold shower is especially icy for job seekers registered for more than three years employment center (+2.5% on month and 21% year on year).Immediate consequence, the average length of employment center has yet to take one day at 456 (against 394 days two years ago), and the share of registered unemployed for over a year unemployed now stands at 38.2 %, up 8.5 points history since the beginning of the crisis.

Apart from the inscriptions following a redundancy which continue to decline (-2.5% over one month and 12% year on year), the other two main reasons for entry are on the rise: the purpose CDD (+4.5% on month and 9.7% year on year) and for temporary assignments (+0.3% in a month and 13.6% in twelve months).

As for administrative radiation, often a source of controversy, they are this time not in any case. They rose in effect from 4% in September and were virtually unchanged over the year.The other bad news, confirming the sudden economic downturn, concerns finally collected and vacancies filled by employment center that fell in September, respectively, 7.1 and 5.3% over one month.

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Creditor banks in Greece will have to accept losses "substantial" in the new bailout of the country, warned Saturday that the European Ministers of Finance. Last night, the central bankers of the euro zone had "agreed to say that we had to have a substantial increase in the contribution of banks" in the form of a depreciation of their claims, said the leader of European finance ministers, Jean-Claude Juncker.

• Discount of up to 60% of the Greek debt

According to diplomatic sources, the ministers agreed to effectively negotiate with the banks at a discount of "at least 50%" against a target of 21% decided on July 21 with the banking sector. They thus de facto endorsed the conclusions of an expert report which was presented by the troika of donor funds in Greece (EU, ECB and IMF).The paper believes that a discount of 50 or 60% hope to stabilize Greece without having to increase in the amount of gigantic international loans that have already been promised.

A "discount" is the term used in relation to the financial depreciation of the value of loans taken by creditors in this case private banks and investment funds that hold government debt. A discount of 50% borne by the private sector, the second program of financial support pledged July 21 to Greece, however, should be slightly revised upwards with government loans (Europe and IMF) to 114 billion euros, against 109 billion euros.To maintain the envelope of 109 billion euros unchanged, it would bring the discount to 60%, according to calculations by experts.

• Recapitalization of banks to the tune of 108 billion euros

The question is whether the banks that have so far dragged its feet to give the pot, will accept a negotiated settlement does not pass through a default of Greece. In return for the effort required on the Greek claims, there are plans to recapitalize banks in Europe. Following a meeting of EU finance ministers, this Saturday, in preparation for the summit Sunday, no agreement had been finalized on this point, due to the persistence of disputes.

"We have made some progress on the banks" and "we have laid the groundwork for an agreement" which will still be subject to "discussions between heads of state" and called for European governments to meet in summit Sunday said Swedish Finance Minister Anders Borg. Countries of the European Union are considering a recapitalization of its banks to the tune of 107 or 108 billion euros to help them cope with the crisis, has also said a source familiar with the matter.

But according to European diplomats, "there is no agreement on the recapitalization, it gets stuck a little." According to one of these diplomatic sources, "Spain insists on having a comprehensive, not only on the recapitalization of banks but also on strengthening the European Financial Stability Fund (EFSF)." On the other hand, "the ministers are trying to agree on the minimum capital."The European Banking Authority (EBA) has proposed that banks reach a level of capital of 9% by mid-2012. A diplomat acknowledged that some countries in the viewfinder of the markets, like Italy, Spain or Portugal, feared that the recapitalization will further undermine public finances.

• The Fund will not support a bank

Moreover, the French proposal to grant a banking license to the Fund support the euro area (EFSF) so he can refinance with the European Central Bank "is no longer on the table," said Minister Dutch Finance Jan Kees de Jager. Only two options are being discussed to increase the firepower of the device, he told reporters Saturday.These two tracks on the agenda now that the mechanism acts as a partial insurance of the public debt of countries in difficulty or higher participation of the IMF to the device, according to a German government source. But there is "significant differences between countries" on the issue, said Jan Kees de Jager.

How to leverage the capacity of the EFSF was the main sticking point between Berlin and Paris at the approach of the EU summit. France, worried about its budget deficit and are "triple AAA" prefer tap into the existing European funds, starting with the ECB. Germany, also sensitive to the separation of powers as inflation risks, refuses anything resembling a crisis by printing money in Europe.France was not only to advocate the involvement of the ECB, arguing that this system worked very well in the United States or Great Britain. She was supported by Spain, Italy or Belgium.

The European Relief Fund currently has a lending capacity of 440 billion euros, part of which is already committed for Ireland and Portugal. This envelope is considered insufficient to prevent contagion of the debt crisis in countries as large as Italy and Spain, increasingly in the firing line of credit rating agencies.European countries negotiate so hard for weeks on the best way, via a "leverage" to multiply by up to five response capacity of the Fund's financial debt of fragile countries.

(With agencies)

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Pasta with pesto sold alongside kebab silkworm larvae or fried chicken feet? This is the crazy challenge of Italian Barilla, which hopes to soon be eating his pasta to the Chinese. "Fast food is an effective way to install the brand and a direct relationship with consumers, said Guido Barilla, chairman of the Italian group that carried out last year EUR 4 billion in sales. If food purchases for the home are traditional, there is now a real interest of people in the street to the kitchens of the world. "

In the Middle Kingdom as in the rest of Asia, food is becoming more and more often on the go, bought in the shops that fill the streets.Or international chains of fast food like McDonald's or Kentucky Fried Chicken, which are present in large cities.

"The goal of Barilla is to be present in twenty years with an offer dedicated to Asia, which is consistent with the true Italian gastronomic tradition, says Guido Barilla. We look at different ways to adapt the offer to local habits with recovery modes that do not exist in the business portfolio of Barilla. "

Ready meals in Europe soon

Therefore no question of selling Barilla noodles Asian or to eat his pasta with chopsticks. The Italian group, which wants to reach consumers in major cities of the region is still at the beginning. He formed earlier this year a regional team of five people based in Singapore. He also sent ten people in Tokyo.All work closely with the headquarters in Parma.

In emerging markets, which account for only 7% of sales, Barilla also looking to South America. "Barilla is a family business, we are not pressed by the objectives of growth or profitability, says Guido Barilla. Our priority now is to install Barilla in new geographies. But we do not make shots. What matters are the group's financial stability and product quality. "

The internationalization of the Italian group has accelerated since the mid-1990s, when Guido and his brothers and sister took over the reins of the company at the death of their father, Pietro, grand-son of the founder.

After settling in France – its second largest market after Italy – and Germany in the 1980s, Barilla headed for the United States.Three years ago, he won first place in the pasta market. Barilla, which generates $ 500 million in sales in the U.S., it now holds 30% market pulp and posted growth of 4 to 5% per year. The Italian was offered four years ago a second plant in the country, near New York. The growth potential is enormous. If the Italians consume 27 kg of pasta per year per capita, Americans eat three times less …

Meanwhile, Barilla brand of pasta popular in Greece and Turkey. In Europe, where the group wants to expand its business scope, it introduced last year pasta with vegetables. This board today the launch of cooked pasta, bearing the signature of chefs.France, where the brand holds 20% of Barilla pasta market, would be among the first countries to sell this product.

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On May 15 the "outraged" Spaniards camped in the square of Puerta del Sol in Madrid. Borrowing their name to the pamphlet by Stephen Hessel, they said they were inspired by the Arab Spring to shout their rebellion against the explosion of unemployment and austerity policies implemented by the government … Since then, the challenge has been extended in the rest of Europe but also overseas. Five months after the birth of the movement in Spain, in 82 countries is that these "outraged" will show this Saturday, October 15. Zurich to New York, to Rome, Tijuana, Hong Kong and Johannesburg, calls have been launched in 951 cities worldwide.

Their message to politicians and financial elites, as can be read on the site 15october, is: "The powers that be working for the benefit of some ignoring both the will of the majority that the price human and environmental we pay. This intolerable situation has to stop. "On the site of the movement Occupy Wall Street, the tone is the same:" The thing we all have in common is that we are the 99% who will not tolerate any longer the greed and the corruption of the remaining 1%. "In Italy, the program is summarized as follows: "Occupation of public places by millions of people who do not want to pay the enormous economic and social crisis in the place of those who have caused: political power industrial, economic and financial" .

No central authority

This day of action is to cross an important milestone in the movement, which now acquires an international dimension. "It was needed to make weight against the power of financial markets that operate on a global scale," says Sophie Banasiak, "indignant" Paris.

However, there is no central body to coordinate the different actions. "If the collective Democracia Real Ya played a leading role in the initial mobilization in Spain, he does not prevail, either in the capital of the country or world, Heloise said Nez, a sociologist at the University Paris 13.Many groups are working together, but none have hegemony over the movement horizontal and egalitarian aims. There is no visible head and outraged caregivers to regularly change the voice online pay day loans. "

"If someone asks you 'who is behind it', they reply: 'I'" retorted on those who seek the organizers. The spread of a city or country to another must be spontaneous, for emulation. A process greatly facilitated by social networks, where multiple keywords are emerging, such as "yeswecamp", "# yosoy15O", "# event15oct" or "# Globalrevolution" … "I do not even know exactly who launched the idea of ​​the October 15, recognizes Spyros, OccupyLSX supporter of the movement in London.We have seen that call for Saturday and it was inspired by the movement Occupy wall street to do the same thing here. "

Specific demands of each country

If dissatisfied with the world found common denominators, claims and complaints are divided again according to national issues. In Spain, Real Democracia Ya accent has been on the reform of the electoral law to end the two-party system as well as stopping the evictions of indebted owners. In Anglo-Saxon countries, it is mainly finance, pointed as responsible for the crisis, which is targeted. Witness the names of the movements that develop, "Occupy Wall Street" and "Occupy London Stock Exchange (OccupyLSX)." In Israel, the mobilization is the expensive housing while in Italy, the outraged refuse to pay "a debt they have incurred."But all these central issues do not prevent each protester to express other concerns. In Spain some point impunity surrounding crimes of Francoism and the United States is denounced police brutality or the death penalty …

Above all, each city retains its autonomy: information flows globally, but "decisions, they, are taken at meetings in every city, Banasiak said Sophie. Each city chooses its own way of decision. In Paris and Madrid for example, is the consensus. The international dimension does not change the fact that the essence of the movement is local: it is in the physical encounter and dialogue in the streets. "

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Many station controllers have spontaneously stopped Thursday afternoon to work after the announcement of the aggression of one of their colleagues in a Corail train earlier in the day. Traffic TGV, Corail and TER is still very upset that Friday morning * and should remain "at least the morning," according to the SNCF, which does not give details. It invites customers to delay their trip or take alternate means of transportation. Ticket holders whose train was canceled can do exchange or refund.

Good news however for users Transilien (train network in the Île-de-France), the Thalys and Eurostar.Traffic on these lines should be "near normal" according to SNCF.

Transport Minister, Thierry Mariani, Thursday criticized the work stoppage of workers, finding that it was not "appropriate response" to the extent that he believes "it is not an act delinquency, this is a person who clearly has mental problems. " "This is not stopping the trains that they stop the insane," he said. The President of the SNCF, Guillaume Pepy, is on the same line. "This is a rare occurrence, an attack of such violence.It would serve no purpose to penalize travelers simply because a dangerous madman attacked controllers, "he said in Besançon, where the controller was assaulted in hospital.

No train service on the night of Thursday to Friday

The strike controller led Thursday the cancellation of all trains at night, and created a big mess all over the country. Some passengers were stranded at the station waiting for a hypothetical train.

Board trains at the Gare Saint-Charles in Marseille. Photo credits: GERARD JULIEN / AFP

Lefigaro.fr – messaging has it become a stress factor?

François Fatoux – Yes, definitely. The study we just completed, 38% of users receive over 100 emails per day. With the massive use of email, employees are saturated with information, most often to treat in an emergency. Because the immediacy of information has sometimes a perverse consequence: we are given less time for reflection. Faced with the constant flow, it is not uncommon that the employee feels outdated, it has the feeling of doing wrong. A situation even more difficult to live as e isolates, by discouraging physical conversations.

There are, as a result of addiction to e-mails, as measured by the researchers, maintains that stress.65% of users say they check email every hour, but actually do every five minutes! And smartphones, which allow employees to access their e-mails anywhere, increasing still potentially stressful situations. Have a blackberry was once a privilege to lead. It has become the door open to requests cascade.

Finally, the electronic mail increases, or harm their productivity?

It is very difficult to make a full and final conclusion. The mails are also many beneficial effects on work organization. In reality, everything depends on how a company and its employees use it. Very different practices coexist. All managers not only send such emails in 23 hours. But it is true that this is a very time consuming activity.More than half of the users spend more than two hours daily to manage their mailbox freecreditscore. The stress is relentless. When we know that an employee is 64 seconds to regain his train of thought after receiving an email, we have a sense of loss of concentration occasioned by email.

Another of his perverse priorities is to disrupt. The urgency tends to take the place of hierarchy. The employees work is undeniable, but spend more time on tasks accessories. Productivity is affected.

How to fight against these negative effects?

It is important for companies to seize this issue and are considering the use it makes their mesagerie mail. Should we encourage the use of mails to professionals outside the office? Should we require employees to respond instantly? The rules must be defined.

As for employees, a few simple rules can help minimize these adverse effects. Set the parameters so that every email that arrives is not reported, for example. Or take the time to reflect before answering. Or consider before each shipment: would it be more effective to pick up the phone? Is it necessary to put this or that person a copy? In terms of dependence on the tool, the answer seems to me, however, not individual but collective. Is to leaders to lead by example.

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The story is she about to repeat itself? As in 2008, when Belgium, France and Luxembourg had given government guarantees the bank Dexia shareholder governments pledge to support the Franco-Belgian bank which could be dismantled. "The Belgian and French States will meet present as in 2008," assured the French minister of Finance, Baroin, on the sidelines of a meeting with his EU counterparts in Luxembourg. Luc Frieden, Luxembourg's finance minister, also said that his country would play an active role in restructuring the bank.

Governments will particularly seek to support the activity of deposits in Belgium "by a guarantee of the deposits."Concerning the activity of loans to local authorities, which represents about 80 billion euros of assets, Baroin ensures that "whatever happens, we set up a quick and effective solution that will ensure a lack of drop charge this important activity. "

A cash injection, similar to that of 2008 which had led to bail out the bank to the tune of 6.4 billion euros is it to the agenda? No response yet from the French minister who is content to repeat that "States will meet present as in 2008." A source close to the talks for his part, told Reuters that recapitalization was not provided.

The creation of a "bad bank" proposed

Most talkative, the Belgian Finance Minister Didier Reynders confirmed discussions around the creation of a "bad bank" structure that will isolate the non-performing assets and portfolios of the bank. "There was much talk of a bad bank, a few possibilities," he said business card. "We need to look at how to change this group. We must remove all the dangerous parts of the bank, this is where the state guarantees come into play then we can give guarantees to customers, both depositors or solicitors of credit. "

Intended as reassuring, Didier Reynders recalls that "there is no reason to be of major concern about this group if we continue to accelerate the disposal of assets.Both France and Belgium are ready to provide a guarantee for Dexia's funding, regardless of the form it takes. "

Replica

Earlier in the morning, France and Belgium had already declared their support for the bank. "As part of the restructuring of Dexia, the Belgian and French, in conjunction with central banks will take all necessary measures to ensure the security of depositors and creditors. To that end, agree to bring their guaranteed funds raised by Dexia, "explained a joint finance ministers of two countries. Baroin said that the crisis in Franco-Belgian bank "is a replica of the Great Depression of 2008."

At the Paris Bourse, these guarantees seem to be a little effect.Dexia shares had lost up to 38% in the morning, cut its losses and was down from 16.46% to 1.086 euros on a market down 2.84% to 13.30. But caution is when a special meeting of the Belgian government is expected Tuesday evening "to take stock."

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Politicians and leaders of employers' organizations concerned regularly extinction risk of thousands of business for lack of buyers. Their fears are great, but it is impossible to quantify accurately the number of companies involved, lack of national statistics. "The market for the transfer of SMEs is opaque," said Gregory Bush, President of Epsilon Research, a consultancy specializing in financial analysis, acquisitions of unlisted companies in Europe.To better understand this market, Epsilon Research and National Society of mergers and acquisitions (CNCFA) created last year, a barometer of the transfer of SMEs in France.

The second edition of the barometer, which analyzes the SMEs employing between 20 and 249 employees and transactions with a value between 1 million and 50 million euros, the market potential is estimated at 4 130 SMEs on a total of 87,000. The SME market for family businesses in 2840 a total of 44,400. It consists of 710 transfers and 2,130 internal transmissions. For SMEs subsidiaries of large groups (42,670 businesses) in 1020 and 260 sales outlets LBO.

Rising prices

Direct consequence of the crisis, the market recorded transactions from the database professional has experienced sharp declines in 2008 and 2009.The value of transactions fell from 5 billion euros in 2007 to 2 instant personal loans guaranteed.1 billion in 2009. "The activity was slightly recovery in 2010 with a 7% increase in volume and 7.5% in value," says Gregory Buisson. The price of SMEs increased by 10% compared to 2009. However, the number of transactions, which had risen to 862 in 2007 was only 698 last year. LBO funds "were the only engine of the recovery," while industry groups have remained cautious in their procurement policy.

Purchasers of the euro area are the most active (35%) on the French market. They regained their 2003 level. Europeans outside the euro area, that is to say mainly the British, are increasing. North Americans are sharply down. They are at their lowest.Asians, who were increasingly active since 2002, are also down.

2011 will probably be a difficult year. The recovery in 2010 seems compromised. "According to preliminary figures, the market fell by 45% by volume in the first three quarters of 2011 compared to 2010," says Gregory Buisson. But the valuations of companies that are fit are high, thanks to the appetite of the funds.

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Unity is strength. Armed with this saying and to respond to the stock market crash that plagues the financial markets around the world, the twenty richest economies in the world decided to act jointly. Thus, after a dinner Thursday in Washington, finance ministers and central bankers from the G20 pledged to provide "a strong and coordinated international response" to the crisis.

No statement should be issued initially. But given the urgency of the situation and "the common observation of the need for a collective response," said French Finance Minister Baroin, the G20 is prepared to take "all necessary measures to maintain stability banking systems and financial markets. " For banks, countries ensure that "they have adequate capital," they keep "sufficient access to finance."Central banks provide them with "the necessary liquidity."

At the same time and in response to a request by the G20 in September addressed to Nicolas Sarkozy, the euro zone countries have pledged to implement "necessary measures to increase the flexibility of the European financial stability and maximize its impact to prevent contagion bad credit unsecured personal loans. "

And G20 members say they are committed to act on all fronts: against "increased risk of deterioration" due to soaring public debt, against "the weakened financial system" and "turmoil" growth "low" and "unacceptable level of unemployment." To do this, they will take action to "support growth" while adopting "credible fiscal consolidation plans."And the time is short since the club 20 is the adoption of "an ambitious collective action plan before the summit in Cannes," in early November.

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