Whatever the final scope of the Franco-German compromise on a European recovery plan, a point is a virtual consensus: the European Investment Bank (EIB) will be further tapped. During his campaign, Francois Hollande has repeatedly cited the institution, explaining to want to see more funding for innovative projects. Chaired by a German, Werner Hoyer, the EIB has the added advantage of being compatible with the philosophy of Berlin in public finance.

Created after the Treaty of Rome, in 1958, this arm of the European Union acts as a conventional financial institution with its shareholders – the 27 EU member states – and its own funds – 232 billion – which it serves as collateral to raise funds on the market and in return grant funds to the public sector. In other words, an appeal to the EIB does not dig, as such, deficits in the area.

Finance ministers of Twenty-Seven will meet Tuesday morning in Brussels, the Governing Council to start work on the practical modalities of strengthening the institution. An exercise stress: no question that the EIB, currently rated "AAA" by the three major agencies, lose this precious document. Where applicable, the cost of refinancing is found in heavy and interventions become less effective.

Two schemes in the study

Request more loans the EIB is therefore to provide in return the appropriate funds. Two schemes are under consideration. The first is to rely on the EU budget. The idea of ​​bringing the Commission to the capital being strongly opposed by the Member States, the solution that emerges would be to use part of European funds as collateral for loans which would then be granted by the EIB. It is this pattern that has been adopted in Greece, for example where the Bank has committed to lend up to 1 billion euros for innovative SMEs from a guarantee of 500 million EU.

The second scheme – which holds the rope – is a mere increase of the EIB's capital, financed by the 27 shareholders. The magnitude of this increase would be about 10 billion euros, which would allow the EIB to grant 60 billion of loans that can generate around 180 billion investment, thanks to the leverage caused by the co-investment from the private sector. An overall figure on which refuses to engage the side of the EIB, "everything depends on the type of investment, leverage is stronger in the context of public-private partnerships in SME lending" says an official. However, the figure of 10 billion additional capital seems to be confirmed.

The impact is not negligible for the European states. The two main shareholders of the bank, France and Germany, which each own 16.5% stake, will write a check for $ 1.65 billion. And even if it is not, strictly speaking, additional debt, the stress on budgets is important. The talks between finance ministers will continue in the coming weeks, to stop a scheme before the European Council in late June.  

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And if the MBA was also a way for women to break the glass ceiling that still separates them from the highest leadership positions? This is certainly what some have program managers, for which women and men have access to essentially the same functions and to pay out of the MBA. However, these formations are still far from parity show.

"An MBA is between 23 and 35 years, staff in terms of timing may be more complicated for women than for men. They have perhaps more confidence in risk-taking than their female colleagues, "said Caroline Diarte-Edwards, director of admissions at Insead.

More exposure

Still, promotions tend to feminize more. Many have now surpassed the 30%. Their recipe? "A program midway between competition and cooperation, in which our participants say they feel comfortable," suggests Bernard Garrette HEC. Professional networks of women in the alumni associations have also developed, giving them more visibility.

ESCP Europe, Audencia, EM Lyon announce fellowships dedicated to women for the next school year. "The financial aspect is not longer a barrier for women than for men, but by creating a scholarship, we are sending a message to women that we can support them in their career," says Chantal Poty, in charge of the Executive MBA from the Lyons school.

Emmanuella Renac, participant in the Executive MBA from ESC Rennes

Within weeks, Emmanuella Renac deliver his memory, a step that will sign the end of his Executive MBA, started 20 months earlier paydayloan. With the relief of having completed training "demanding, very involved, during which we soon learn to sleep less, to better organize and optimize their time." But also the satisfaction of having learned everything she had come to seek. After 10 years of experience in purchasing and product marketing of electronic components, it feels the need to broaden its horizons, discover new work environments and meet new people.

"He holds a university degree, the MBA has an international recognition that seemed interesting. It was also a process for a senior position because as a woman, you must demonstrate more things a man, "she says. Surprisingly, she discovers the only French woman of her class and encourages her peers to engage in an MBA. Training for which it has borne fruit. Supported by his chief and his HR, although the company did not fund the training, Emmanuella Renac wins quickly after the start of training a sales manager position. "Follow the MBA gave me a status in the eyes of superiors who had an MBA and became interested in my studies. Everyday, I was also entrusted with new missions, in judging me capable of carrying them out ", says she.

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Record! Go Sport last year recorded the largest net loss in its history. At 20 million, the third largest sportswear in France is worse than in 2008, when he posted 15.9 million euros loss. Since 2004, Go Sport, owned 72.9% by Rally, has accumulated losses of 73.6 million. The group experienced only a year in profits (12.9 million in 2007), with a gain of 23.1 million euros on the sale of the store premises.

Despite these cons-performance rehearsal, Rally is also a shareholder qu'endurant persevering. The company controlled by Jean-Charles Naouri, also main shareholder of Casino, has decided to guarantee a capital increase of EUR 30 million for group Go Sport, scheduled for the second quarter.

"It is a sign of confidence and support of our principal shareholder, welcomes François Neukirch, group managing director, who also holds the Courir. This will allow us to strengthen our financial structure and to give ourselves margin for maneuver? THEREFOR. "

2011 was a bad year for Go Sport, who missed both the January sales, the summer season and the winter, "because of unfavorable weather conditions," says François Neukirch. During these periods, sales of Go Sport France fell by 10%. Over the full year, those seasonal items (skis, anoraks, bathing suits?), Higher margin, plunged by more than 30% Same day payday loans.

Good start to the year 2012

"It is a paradoxical year, said François Neukirch, because we also had great commercial success. Footwear sales rose 5%, and those of non-seasonal fabrics of 3%. "Above all, the new store concepts and Go Sport Racing give satisfaction to its leaders. Part, the amount of which is kept secret, the 30 million euros raised on the stock market is also devoted to home improvement stores.

The group's leaders want to believe that the disappointments of last year are due only to the injustice of climate, and do not intend to change strategy. They stress that since January, sales of Go Sport show a double-digit growth, as if the weather was trying to redeem himself?

Asked about the prospects of return to equilibrium, François Neukirch stated that "the sooner the better." A view shared by patients shareholders. Darty, which owns 12.1% stake in the group, will announce its decision whether to participate in the capital increase on the occasion of the General Meeting of April 20.

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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.

These announcements reflect "what we know today," said Hans Peter Ring, Chief Financial Officer of EADS. The band plays caution. He prefers to deliver defect-free devices instead of doing everything to meet its production schedule. The European giant draws lessons from the excesses of the A380.The announcement of the delays of the A380 in June 2006 caused a collapse of the action and the most serious crisis in the history of the company.

This decision revealed seventy-two hours before the opening of the Dubai Air Show was predictable. In June, during the Paris Air Show, Airbus announced a year and a half behind two of the three versions of the A350 XWB. Management had set the stage by explaining the weeks preceding the calendar was tense for "a very risky program."

In late September, Thomas Enders, CEO of Airbus, told the BBC: "We always start date for the final assembly of the first aircraft in late 2011. But there is no magic date. We learned a lesson simple enough for the A 380: it is useless to push sections of the aircraft on the assembly line if they are not ready. "

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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Since this summer, the world leader in soft drinks, combined with specialist Italian Illy coffee, launched its cans of coffee at Daily Monop 'and Monop' (Monoprix). Illy issimo named this new drink is declined "caffe" and "cappuccino". "This drink is not far from the tastes of the French, it's just a new way to drink coffee as was the case some years ago with the iced tea in cans," said Ilaria Presotto, marketing director of Ilko, the joint venture created in 2007 by Coca-Cola and Illy.

With this coffee "ready to drink," Coca-Cola wants to meet new consumer needs.He hopes to reach young and urban assets, on the road, often of tiredness during the day. "This is a premium drink that matches the new lifestyles, says Ilaria Presotto. This is a niche category that did not exist in the French market, so we need to educate consumers and encourage impulse buying. "Suddenly, the price of Illy issimo (2.20 -3 euros) is aligned with RedBull, alongside which he finds himself in the rays in the absence of competitor.

As with VitaminWater, the world leader in soft drinks has chosen a selective distribution. He wants to know Illy issimo by word-of-mouth.He focused primarily on fresh produce stores so that its drinks are lost on the shelf.

Starbucks and PepsiCo in ambush

These cans of coffee, which are now available in 400 outlets in France, were first sold exclusively at Colette, La Grande Grocery of Paris (Le Bon Marché) in several luxury hotels in the capital as the Hotel George V and the Côte d'Azur. "With these first months of launch, we will expand our offering next year and increase the distribution of our products to major retailers, says Ilaria Presotto, currently in talks with Carrefour. We hope to at least double our sales in France in 2012. "In the Hexagon, Illy issimo – which is produced in Denmark – is sold by the sales of Illy. In Barcelona and London where Illy issimo was launched along with Paris, the distribution strategy was the same.In the British capital, the drink is sold in stores in the chain Waitrose premium, in addition to sandwiches. It is also found in company canteens as Disney or head of the Daily Telegraph.

In Europe, Illy and Coca-Cola inspired by the success of Illy issimo Japan and the United States, where the drink was launched two years ago. In Japan, the first market issimo Illy, the coffee is sold in cans hot or cold in the millions of vending machines in the country. The country accounts for 70% of world consumption of coffee "ready to drink." A market of 17 billion dollars which increased by 5% in five years. In the U.S., too, is a high potential market. From year to year, sales have doubled in the country. But Coca-Cola is facing a strong competitor, Starbucks Coffee, combined with another heavyweight soft drinks, PepsiCo.After the United States, China, Britain or Germany, their coffee "ready to drink" Frappuccino will land next year in France.

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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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Before the Dreamliner, Boeing's cooperation with subcontractors, but former French was limited. "Boeing has opted for the CFM-56 engine, co-developed by GE and Safran, to equip its B 737 and he turned to Dassault Systèmes to draw the B 777," says Yves Galland, president and CEO of Boeing France."The implantation depth of French aviation has made possible and with as Boeing 787 B is increased from 2 to 14 partners meeting in the French Team Boeing. We now work with hundreds of French companies, "says the CEO.

When Boeing launched the program in 2004, he decided to review its parallel in industrial organization by giving up 80% of the unit to major partners. It launches international tenders and the French make a lot. Some drop their first contract with Boeing. This is the case Latécoère that provides long-haul passenger doors of (8 air).

"For the first time a French industrialist involved in the structure of an American plane," said Yves Galland. Once a foot in the door, Latécoère won a second contract to supply the cargo doors of the B 777.For his part, Messier-Bugatti a world first on an airliner: the design of the electric brakes B 787. "After winning the contract, Messier Bugatti was referenced on the B 737 to replace the brakes," said Yves Galland no fax cash advance. For its part, Labinal was selected for the wiring of the unit, or a hundred kilometers to install per machine. A particularly crucial position on the B 787 presented "as the more electric aircraft ever designed."Just as the power conversion system entrusted Thales was also selected for in-flight entertainment and integrated flight displays.

23,000 jobs created in France

A total of ten French companies, among which there are also Zodiac, which will provide 100% of the seats of 55 B 787 ordered by ANA and management systems and waste water and slides, Dassault Systems (Catia) Messier Dowty Michelin and boarded the program which counts 821 orders from 56 airlines.According to several experts, the B 787 alone should generate between 600 and 800 million dollars in sales per year for the French industrial partners.

In total, Boeing 787 and B have shown "significantly more" than $ 4 billion purchase of components and assemblies to the French aerospace industry, 80% are made in France. Of this total, $ 2.8 billion came from direct purchases. The U.S. giant has generated 23,000 jobs in France and half direct. "Boeing buys in France ten times more value than it sells," said Yves Galland noting that Boeing will be exported to France three aircraft this year.

The rise of French subcontractors will not stop there. The "Boeing French team" is growing to meet from 17 to 18 members by 2012.

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