News – Business & Economi

France is among the OECD countries where the tax burden on wages is highest among those in which it rose again in 2010, weighing on household disposable income, shows a report released Wednesday by the OECD.

Coincidence, this study points to the burden of levies on earned income at a time when Paris unveils major reform of the taxation of wealth.

The total share of taxes paid by employees and employers, less cash transfers, is in France, higher by at least 13 points at the OECD average, regardless of household composition, and gap with the average has widened since 2000, the survey says the Organisation for Economic Cooperation and Development.

For a single person with no children, total taxes and social contributions, whether paid by the employer or the employee, reached 49.3% and the average wage in France last year.

This rate, a slight increase compared to 2009 (+0.14) is greater than a 14.4 point average of the OECD (34.9%) and puts France in second place in the ranking of countries members of the organization, behind Belgium (55.4%) and just ahead of Germany (49.1%).

At the other end of the scale include Chile (7%), Mexico (15.5%) and New Zealand (16.9%).

The pressure is less strong for a married couple with two children and having only one income, but France ranks first in the OECD ranking category, with a pressure ratio of 42.1%, higher than most 17 points average (24.8%).

The average load carried by taxes on income and payroll taxes on wage income was weighed down last year in 22 of the 34 member countries of the organization, the report said, interrupting a downward trend observed since 2000 .

In its report, the OECD says that "governments should consider changing the tax structure by putting more emphasis on indirect taxes than direct taxes."

It calls for broadening the tax base of VAT and income tax of individuals by removing tax expenditures, the famous kennels.

The general assembly of Renault has not been the scene Friday of a shareholder revolt, despite the fiasco of false intelligence, and the manufacturer now plans to focus on its strategic plan and the post-Pelata.

The diamond group said it had launched the process of selecting a successor to Patrick Pelata, number two in the group removed from office following the failures that led management to falsely accuse four frames of the group.The Chief Executive Officer is expected to occupy other positions within the Renault-Nissan, which have not yet been clarified.

"The Appointments and Governance has initiated the process of selection and hearing of persons likely to assume the post of Chief Operating Renault," said Marc Ladreit de Lacharriere, chairman of the committee during the GA organized Porte Maillot, Paris.

"Know that we will be very vigilant to the fact that the officer has all the qualities and experience necessary for the conduct of a company like Renault, these qualities must be recognized within the company and also by shareholders, "he added.

Carlos Ghosn has paid tribute to his former number two, for his role in managing the crisis of 2008-2009 and the preparation of the new group's strategic plan.Present at the AG, Patrick Pelata did not linger at the car show organized then to shareholders.

SOME WHIRLPOOL, NO SLING

Several names of internal candidates to circulate Renault to succeed him, including Dominique Thormann, chief financial officer, Jerome Stoll, Chief Commercial Officer and Philippe Klein, Director of Planning, product and programs, but also that of Nissan Carlos Tavares who heads the Americas region in the Japanese partner, Renault.

Chairman of the Appointments Committee gave no indication of the date of election, but it should be fast.Marc Ladreit de Lacharriere simply said: "We are very mindful that this decision is taken within a timeframe compatible with the normal operation of the business."

The CEO of Renault, Carlos Ghosn, said later in the session of questions and answers that the decision would be made "within a timeframe compatible with emergencies and necessities of the company."

After making headlines for several months in a row, false espionage case has not really caused a stir in the aisles of the convention center.

Facing the crisis, the leaders have renounced the variable portion of their salary in 2010 and all stock options in 2011.An agreement to compensate the executive has been found, and the two people who wrongly dismissed reintegrated Renault, Matthieu Tenenbaum Monday will join the management plan.

The consultancy PhiTrust investors tried unsuccessfully to include in the agenda a resolution calling for greater transparency in executive compensation from Renault, while the firm Proxinvest had called Monday for shareholders not to approve Auditors or the reappointment of Chairman of the Audit Committee.

His call was not followed. During the discussion, one question on the maintenance of Carlos Ghosn at the helm of the group has emanated from the room, prompting some applause.The CEO did not respond, give this task to the Chairman of the Governance Committee has just reported that it had had "no reason to suggest the president's resignation."

Carlos Ghosn conceded that for more complete information on pay, the website would then be made on the Renault Nissan.

The CEO assured that the manufacturer would come out strengthened its crisis since the beginning of the year, become the scam espionage, and since March the earthquake that shook the Japanese automotive industry.

In Japan, the director of supply Gérard Leclercq said the shutdowns expected after the month of May would be short lived.Carlos Ghosn said in turn that the objectives of the 2013 strategic plan unveiled in February were not challenged by the current disruptions facing the archipelago.

Unibail-Rodamco reported Tuesday a 3.3% growth in net sales in the first quarter 2011 to 426.6 million euros, and announced it had sold assets during the first three months of year for a total net 422.5 million euros.

The gross rental income in the malls of the property company were up 3.4% to 272.2 million euros compared to the first three months of last year despite the divestments in France, the Netherlands Netherlands, Hungary, Sweden and taking into account the positive impact of acquisitions, Unibail said in a statement.

Office rental income rose 1.3% while those of the Convention-Exhibition activity rose 2.4% in the first quarter.

Addition to the assets sold during the first quarter, Unibail sold in Sweden on April 8 to a consortium led by Grosvenor Fund Management, a portfolio of three malls and a supermarket for a total of 2.4 billion kronor ( 268 million euros).

"These sales are an integral part of the strategy to divest non-strategic group to focus on shopping centers accommodating a large number of visitors per year," said Unibail.

Under the current procedure for redemption of minority shareholders of Rodamco Europe NV (660,562 shares), the update of the expert report required by February 1, the chamber of the Court of Appeal of Amsterdam is expected May 3, 2011 at the latest, also said the French group.

On Tuesday, Unibail-Rodamco has ended, as the CAC 40, a gain of 0.58% to 154.85 euros, representing a market capitalization of 14.2 billion euros. Since the beginning of the year, the stock rose 4.63% while the benchmark index of the Paris market was awarded 6.32%.

Five NGOs are accusing the Swiss Glencore and First Quantum Minerals of Canada underestimate the turnover of their Zambian subsidiary to evade taxes. They complain in Switzerland and Canada.

Five non-governmental organizations (NGOs), including the French association of jurists and lawyers Sherpa lodge this afternoon a complaint against two multinational companies, the Swiss trader Glencore and raw materials in the Canadian mining company First Quantum Minerals , which they accuse the Zambian subsidiary common Mopani Copper Mines, tax evasion.

"The financial and accounting manipulations that engages the Mopani Copper Mines to evade tax in Zambia violate the principles of the Organization for Economic Cooperation and Development (OECD) for multinationals," says Maud Perdriel- Vaissière, general delegate of Sherpa.Also we are introducing a complaint with the national contact points responsible for Switzerland and Canada in these two countries that have acceded to the OECD Guidelines, to ensure compliance. "The accounts of the Mopani Copper Mines, a major producer of copper and cobalt in Zambia, were screened by law firms Grant Thornton and Econ Pövry, at the request of the Zambian government. The audit conducted in 2009 points to several anomalies: operating costs overstated; of cobalt production volumes less than half those of other producers in the same region, transfer pricing to Glencore, the main buyer of the ore, surprisingly low .

Result: revenue from the company were undervalued hundreds of millions of dollars over the period 2003-2008, which would have to significantly reduce the tax bill paid to the Zambian government.A state whose foreign investors have no complaints, yet it represents a legislative and fiscal framework particularly advantageous. As a bonus, the consortium Mopani received in 2005 a loan of 48 million euros from the European Investment Bank to contribute to sustainable development in the region … The complaint filed by the five NGOs – Sherpa addition, the Center for Trade Policy and Development (Zambia), the Berne Declaration (Switzerland), the missionary Entraide (Canada) and Mining Watch Canada – is unprecedented for the first time The strategy of tax avoidance implemented by multinationals is terminated with National Contact Points. "Tax evasion of these companies is bleeding worse than corruption in developing countries," said Maud Perdriel-Vaissière. A shortfall estimated at more than 400 billion dollars each year …

More than fear, the purchasing power among Internet has become de L'Expansion, an obsession. Review comments. "Our politicians live in a bubble away from the people …"

The purchasing power decreases from year to year. For you, it is a certainty, even though statistics say otherwise: higher monthly income and resources are not proportional to the increase in the price of life everyday. First observation, as explained gaynoel on the rising cost of living compared to income received each month "for life itself to increased 3%, the EDF of 3 to 5% on gas 5% as often as possible, the assurances of 3 to 8%, and only 1.5% SMIC how not to be afraid of the constant fall of purchasing power? "."The retirement of the basic plan will rise by 2.1%, while any increases beyond 5%," adds ketty2.

In parallel with the decrease in your purchasing power, you are likely to reflect an anger against the "politicians" who, as explained Martheline, "do not realize anything" and, as your ball rolls adds , "do not even know how much is a loaf of bread." As noted Kerouet, it seems that politicians today are powerless: "Left, right, FN, none has satisfactorily solved, and policies of any side they are proving every day their incompetence." "Our politicians live in a bubble … from the people," adds lyly88. Finally, many of you will show highly disappointed by the unfulfilled promises of Nicolas Sarkozy. "Where is the 'candidate' that made us great promises on the purchasing power of the average French man, retired …?" marie23 questions.

Briefly, as summarized unbernard0151 a bit disillusioned, "there are only two solutions: to reduce its consumption or type in savings." Or … We can also compare prices of different products and become, writes Fannia, "the queen of the system D". Or cheating, "it is the first time in my life that I cheat as much in transit (…), I am in zone 6 and what I saved on rent by living far from Paris, it should lose by buying a card zone 6 (140 euros per person), "said bourtoulot.

You're much, if anything, to show you tired and outraged, "the French are not zero or sheep to mow." The most virulent of you are going to propose a revolution like the Egyptian and Tunisian events: "One solution, to imitate the Arab countries," said domi59.

China's central bank raised again on Friday the required reserve ratio of banks, but this policy highly effective against inflation is not without risk to its banking system and the rise could reach a ceiling.

The People's Bank of China (PBOC) announced that it would apply from 25 March to an increase of 50 basis points of this ratio, the sixth such initiative since November, forcing banks to keep 20.0% deposits as reserves.

Intended to curb money supply by restricting lending, this policy has the advantage of being a more direct mop up liquidity and, contrary to higher interest rates, not raising the price of repayments of local, heavily indebted.

But banks may see their benefits trimmed and to experience financial difficulties, prompting many analysts to consider 23% as a threshold beyond which institutions would be seriously hampered.

Some observers believe that Beijing could nevertheless continue this monetary tightening beyond 25% by targeting the banks that were the least conservative in granting loans.

And if inflation is accelerating again, a continuation of the recovery ratios may become more important to Beijing as the protection of bank profits.

Airbus commercial director John Leahy said Tuesday that the order by the leasing giant ILFC 100 A320Neo demonstrated market support for version remotorisée of medium-haul aircraft manufacturer.

He added that Airbus was discussing the sale of this new version of the A320 with Republic Airways Holdings, which operates regional airlines like American Frontier Airlines, Midwest Airlines and Lynx Aviation.

The A320Neo "is not only in running, he leads the world in its wake," said John Leahy during a telephone interview with Reuters.

"The world's airlines take Neo seriously when they do not take any of Boeing seriously," he added, referring to the idea of a total overhaul of 737, runner up behind the A320 .

With this version launched in December 2010, Airbus plans to retrofit its A320 from 2016 with engines which save 15% kerosene and better withstand the competition.

International Lease Finance Corp. (ILFC), a subsidiary of leasing aircraft from American International Group (AIG), announced the total order of 100 Airbus for an estimated $ 9.5 billion (6.8 billion euros ) and of 33 Boeing.

ILFC has also announced the cancellation of an order for ten A380 jumbo jet for an amount exceeding three billion dollars.

John Leahy has rejected the idea that this is a serious setback for the world's largest aircraft, explaining ILFC had not yet assigned the unit to its own customers.

He also expressed disappointment with the order for five Boeing 747-8 placed by Air China, seeing the sign of American political pressure.

Air China is the third company after Lufthansa and Korean Air have ordered the aircraft, which Boeing is the replica of the Airbus A380.With a capacity of 467 seats, the 747-8 is charged to a unit list price of $ 317 million.

Boeing on Tuesday signed a total sales contracts with two Chinese airlines for a cumulative amount exceeding ten billion dollars (7.16 billion euros).

Arkema announced Wednesday its intention to increase its investments in 2011 after record 2010 earnings, which have reduced significantly over its pre-crisis levels.

The first French chemist said to anticipate the first quarter 2011 EBITDA (EBITDA) increased markedly compared to 137 million euros in the corresponding period of 2010.

The group includes investment flows about 360 million euros in 2011 against 293 million in 2010.

Arkema achieved an EBITDA of 790 million euros last year, against 310 million in 2009, giving a margin of 13.4% up 6.4 points.

The company returned to profitability, posting net income group share of 347 million euros against a loss of 172 million a year earlier.

The dividend increases to one euro per share against € 0.60 for 2009.

Its turnover has increased by a third to 5.905 billion euros, driven in particular by strong growth in demand in Asia, where the group now generates nearly a fifth of its sales.

Analysts on average expected EBITDA of 764 million euros, net profit of 322 million and a turnover of 5.862 billion, according to Thomson Reuters consensus I / B / E / S.

Olafur Ragnar Grimsson on Sunday called for a referendum on the new repayment agreement with London and The Hague adopted a clear majority in Parliament Wednesday. A page from the site of the Icelandic online bank Icesave

The Icelandic President Olafur Ragnar Grimsson SUNDAY called for a referendum on the new agreement with London and The Hague following the collapse of the Icesave online bank and Prime Minister Johanna Sigurdardottir said she was very "disappointed".

"The citizens of Iceland will be asked to vote on a new agreement on Icesave" with the British and Dutch governments, "said Olafur Grimsson reporters in Reykjavik. Immediately after this announcement, a spokesman for the Dutch Finance Ministry said his country had "taken note of the decision" of the president of Iceland.

"How will Iceland's decision is an Icelandic case.We expect from the Icelandic government that reflect the new situation and he contacts us about what will follow, "he told AFP spokesman Niels Redeker. But he stressed that" negotiations are concluded and an agreement on the table. "

Last Wednesday, the Icelandic parliament had adopted a clear majority in the new repayment agreement Reykjavik by nearly 4 billion raised by London and The Hague following the collapse of the Icesave online bank and there was not that the green light to the President for promulgation.

The Prime Minister 'disappointed'

The Prime Minister said she was "disappointed" by the call for a referendum. "It's disappointing. We had anticipated that the president would sign the agreement on Icesave," said Johanna Sigurdardottir to the press shortly after the call to the referendum."The agreement was approved by a majority in Parliament and this is not common that a president is opposed to an agreement adopted such a majority," she said, adding there was "little chance that Great Britain and the Netherlands are willing to renegotiate the agreement. "

No date was given for the poll, which according to the Prime Minister should take place "as soon as possible. Maybe in a month." The new law – approved by 57% of Icelanders in a recent survey – provides that Iceland plunged into crisis by the collapse of its banks in late 2008, can spread its repayments of 3.9 billion euros between July 2016 and up to 2046, at an interest rate of 3% to 1.3 billion euros due to the Hague and 3.3% for the balance due in London.

A previous agreement provided for reimbursement between 2016 and 2024 only, at an interest rate of 5.5%.

This is the second time in a year that the Icelandic president vetoes a repayment agreement on Icesave and demand a referendum.

In January 2010, Olafur Ragnar Grimsson had called a referendum on a previous agreement with the British and Dutch governments, less favorable for Iceland, which was ultimately rejected over 93% at the polls in March 2010.

The President of Iceland has essentially honorary missions, but has the power to decide to call a referendum, an option rarely used only twice since independence in 1944.

The employment in France rose 0.2% in the fourth quarter bringing the increase to 0.7% throughout the year. Almost 110,000 jobs created in 2010.

Wage employment in the nonfarm business sector continued its slight rise in fourth quarter 2010, increasing by 0.2%, after +0.1% in the third, according to preliminary data released Friday by the INSEE.

The net job creation amounted to 35,500, still lower than in the second quarter (38,600) but a marked increase from the third (19,200 posts).

In one year, the increase was 0.7% in market sectors, excluding agriculture, to 109,900 jobs.In late December, France had some 15.97 million employees.

The increase in employment in the interim, often considered a gauge progress in employment, has been particularly marked between October and December, at 4.2% in the quarter, an increase of 24,000 jobs in acting.

"The rise in the interim did not weaken in the fourth quarter" with "a pace close to that observed in the third quarter," notes the National Institute of Statistics.

In the third quarter, the employment market sector had been fired by the interim (+4.1%, or 22,400 jobs created in three months).