JPMorgan announced after the close of U.S. markets heavy losses of over 2 billion following the massive purchase of products that were derived originally from the 2008 financial crisis. The CEO, Jamie Dimon, reported the losses of "litigation of approximately $ 200 million" and "pre-tax losses the brokerage of over $ 2 billion" during a conference call surprise. The boss of the first U.S. bank by assets added that these losses could still grow up to an additional billion dollars. The asset portfolio has complained yet "a lot of volatility," said the leader. "We will manage up", but "it could cost us up to a billion dollars or more" and "the risk will remain for several quarters," added the CEO.

Photo credits: LUCAS JACKSON / REUTERS

Thousands of people started marching Tuesday across France to say no to them according to the austerity imposed by the European Union and call for a genuine policy of growth to five days before the second round of presidential elections.

Nearly 290 processions are announced by the CGT, one in the afternoon in Paris, where walkers will have been preceded by a National Front demonstration and where they will parade during a political rally organized by the outgoing president.

The inter-union (CFDT, CGT, FSU, UNSA and Solidaires) promises that there will be no political message on the banners of the first parades in May, but the CGT, unlike other organizations, called for " beat Nicolas Sarkozy. "

In Marseille, about 20,000 people, according to unions, protested for a parade more social than political. "This gives it a special flavor, but we do not mean our demands immediate demands in the pocket," said the delegate county of the CGT, Mireille Chessa. The banner head behind which all the unions, with the exception of FO, marched, summed up this attitude. "Against the austerity policies, workers united for social progress" could be read. Fralib employees, who for nearly two years to oppose the closure of the last site in France to make the teas The Elephant, opened the procession.

In Bordeaux, more than twelve thousand people walked the streets of the city. A response far greater than a year ago, according to organizers. "We believe the participation of 15,000 people," welcomed on behalf of the Inter Cathy Sargenton, spokesman for the CGT Gironde. She said only 3,000 people were mobilized during the May 1, 2011.  

Between 10,000 and 40,000 demonstrators, police or the organizers, marched through the streets of Toulouse, where slogans against the outgoing president did not fail. The banner head, badged CGT, CFDT, UNSA and FSU, was as traditional themes such as defense of trade unionism in wages, employment or public service, but most political slogans have also fused. Unions have strongly mobilized in Rennes. CGT announced the presence of 10,000 people when she had recorded that in 1250 the last year. The prefecture has reported a provisional figure of 6,000 protesters. Where the band head of the Inter-CGT, CFDT, FSU, UNSA and Solidarity stood by social demands on employment, pensions, purchasing power and the struggle "against all discrimination," the The atmosphere was much behind policy.

Holland in Nevers to honor Beregovoy

About 1500 people marched in 4500 in Strasbourg and Mulhouse, according to a statement made on site by Reuters, a significant interest in Alsace, while the region is in middle of spring break and the CFDT was not involved, as organization, in the event high quality business cards.

In Strasbourg, where employees of the Caddy truck manufacturer, in receivership, opened the parade, only a few slogans directly recalled the presidential election, as "If you're against Sarkozy, clap your hands", sung by the Orchestra of the CGT.  

In Paris, delegations from the Socialist Party and the Left Front should remain in the rear of the parade as not to hinder the trade unionists and Francois Hollande has chosen to honor Nevers (Nièvre) to Pierre Beregovoy, the Prime Minister Francois Mitterrand, who s 'committed suicide there are exactly nineteen years.

Union leaders see as a "provocation" of Nicolas Sarkozy's decision to hold its own gathering on the job after reporting since the beginning of the campaign "these intermediate bodies" that are the unions.

"On 1 May for the workers and anyone else," said Francois Chereque on Tuesday BFMTV. The secretary general of the CFDT, which does not give instructions to vote, said the speech of Nicolas Sarkozy on the job has become "unbearable." "Every time there was a takeover in the history of politics on this holiday (May 1, Ed), was derived in a context of undemocratic," he said Monday in an interview published by Liberation.

Thibault argues for a social Europe

The secretary general of the CGT, Bernard Thibault, has instead confirmed he called to vote for Francois Hollande. "The CGT called to fight the current president," he said on Europe 1. "I am surprised that some are surprised that a union of employees can have an opinion about the issues of a presidential election."

"It's from the social balance sheet, economic and president of his intentions – among his first, he wants to, as the employers claimed, a reform of the definition of termination for economic reasons," that this position has was taken, he said.  

The SGC requires a minimum wage to 1,700 euros per month and expects Francois Hollande, who has promised a big meeting with the social partners if elected on May 6 before deciding, he goes in that direction very quickly. Bernard Thibault believes that the austerity measures introduced in the European Union led the latter to the disaster and calls for a social Europe.

To better themselves as "unifier" Nicolas Sarkozy faced with a "who wants to divide", the Socialist candidate Francois Hollande has sent a letter to leaders of the five confederations. He reiterated his promise to do major players in the next five years if they win.

From our correspondent in Rome

With a key concession, Mario Monti has torn their agreement to the political forces for reform of labor law that has as its capital for renewed growth.

"The bill I will introduce to Parliament represents a historic opportunity to create jobs, improve the labor market in quality and quantity and reduce unemployment permanently," he said at a news conference Wednesday night . Beside him, the Minister of Labour, Elsa Fornero, extensively detailed a complex reform which should significantly reduce the uncertainty and guarantee coverage to millions of young people without permanent jobs.

To overcome the ongoing wrangle by the confederation CGIL working, the most powerful and most left unions and the Democratic Party who had followed suit, the government had to make some concessions. These concern the right of dismissal, framed by Article 18 of the Labour Code, considered an intangible acquired by the unions. Elsa Fornero recognizes that Article 18 is "a great conquest of labor law, but must adapt to a world profoundly changed" since its adoption in 1970.

Arbitration courts

In cases of collective redundancy, compensation of twelve to twenty months is expected. If it is a disciplinary dismissal, no reinstatement is possible pay day advance. However, if it is an individual disciplinary dismissal without "just cause" (or "unfounded", said Mario Monti), it is for the judge to decide whether to order reinstatement or award of compensation. In the previous version, any notion of reintegration was excluded.

Pier Luigi Bersani, the leader of the Democratic Party – left – has defined the amendment "a very important step forward." The leader of the main leftist party feels relieved not to have to hire a showdown with the government it supports Monti since his inauguration last November. Mario Monti would like to see adopted its reform as soon as possible, by the summer. It does not exclude liability to ensure that this reform is distorted by the amendments.

The government wants to give a signal quickly to reassure the markets, while the borrowing rate differential with Germany is ironed on Thursday at 358 basis points, the highest in a month. After the pension reform in December and January of liberalization, reform of the labor market is the third stage of the crisis of Italy.

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One million dollars per day, or 750,000 euros. Such is the cost of operations by Total to plug the leak on board its platform Elgin, North Sea, said Monday its chief financial officer Patrick de la Chevardière. Added to this bill a loss of $ 1.5 million each day (1.12 million) which corresponds to the cessation of production from fields adjoining the Elgin and Franklin, for a total cost estimated to about 1.9 million euros. These two deposits, located 240 kilometers off the coast of Aberdeen in Scotland, representing 2% of the total hydrocarbon production.

The company was still awaiting the green light Monday from the British authorities to dispatch technicians on the platform, removed a week earlier. Total will begin simultaneously on the one hand, to "kill" the leaking wells at the platform, out of the water, and, secondly, to drill two relief wells instant payday loan lenders. If the first operation, "relatively easy", according to Patrick Chevardière, successful, drilling (at least 100 million euros and six months of work) will be useless.

According to Total, gas, mainly methane, disperses quickly in the air. Only 7m3 of condensate (light oil such as gasoline) are currently prevalent in sea Greenpeace, arrived on Monday with a vessel area, intend to verify these statements.

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Vinci was an equal disappointment. Two weeks ago, the leading European construction and concessions had been anticipated in extremis by ADP to regain 38% of TAV which manages ten airports in Turkey. An operation of over 700 million euros. Tuesday, the group cons-attacked on another front. In partnership with 50/50 with the British operator of BTP St Modwen, he won a huge contract of 2 billion pounds (2.4 billion euros). He trumped consortium formed by Bouygues and Carlyle.

For that price, Vinci and his partner will rebuild New Covent Garden, London halls hosting a market fruit, vegetables and flowers. Like its French cousin who migrated from Paris to Rungis, Covent Garden has left the center of London there are over 30 years to settle south of the Thames, in the district of Nine Elms on 230,000 m². In addition to A to Z redo this building between 2013 and 2018, the group will build 2,800 homes but also office buildings and shops. All this with a financial Original: Vinci will invest 130 million pounds (156 million) to rebuild the New Covent Garden.

In return, it will be awarded to Vinci 8 hectares of land to enable it to develop a very large real estate transaction valued at 2.4 billion euros while.

Strong position in the UK

A credible plan for the neighborhood where he has developed is being completely remodeled for example, the U.S. embassy to move into a new building in 2017 and the construction of two new metro stations is considered easy payday loans.

This new contract demonstrates the strong position of Vinci in Britain. Last year, the group has achieved 5.6% of its turnover, slightly more than 2 billion euros. And the UK is the third country that weighs the heaviest in the group accounts. After France and Germany who preceded him as a short head. "Vinci spent the overdrive in this country since the acquisition of Taylor Woodrow in 2008, a large construction of which then realized a sales volume of 750 million euros," said one financial analyst. Because the group has grown significantly through acquisitions has integrated the subsidiary. Much like it did with Cegelec, Faceo or Tarmac.

The result? In recent months, Vinci has garnered several prestigious contracts in England. Thus, the group have won beginning March 1 public-private partnership to renovate and maintain for 25 years 432 km of roads in the London Borough. Transaction amount: 950 million euros. A month earlier, Vinci was selected to manage for five to ten years the road five English counties. All this for 1.7 billion euros. The French group had also been held last October to build two waste treatment centers in the UK for just over 380 million euros.

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A decree and a decree signed by Xavier Bertrand were published in the Official Journal on Thursday, trying to implement a solution against excess fees the most excessive.

As expected, the Minister of Health proposes to anesthetists, surgeons and obstetricians in sector 2 (free prices) to limit their excess fees to 50% beyond the "tariff Safely." It also requires them to perform at least 30% of acts without overshoot. Nothing compulsory volunteers receive in exchange for partial support of their social contributions. In parallel, complementary health (mutual, private insurers, pension funds) are imposed the obligation to repay the overruns to keep certain tax advantages.

The device must be expanded in the coming days. Another decree to impose additional pay as overruns in other medical specialties. With one difference: the doctors involved will commit to not charge more than 20% above the tariff Safely, on acts alone techniques (imaging, minor surgery …). They can not in practice on clinical procedures and consultations.

Paradox: the device does not fully satisfied neither the doctors nor the supplemental insurers, not patients. While appreciating a "real breakthrough", the CSMF, the first organization of private practitioners, regrets that "practitioners of a sector is left out guaranteed approval cash loans." Even the tone of the union side, the Bloc, the majority among the surgical specialties. A sector physicians are those who do not have the right to introduce overshoot. They should stick to Safely rates. But Medicare itself recognizes that such rates, frozen for years because of funding, will not match the cost nor the time nor the level of expertise and legal risk of surgical procedures .

Mutuality French, meanwhile, feared windfall: many surgeons already practicing anesthetists or overruns "moderate". They could grow to the the 50% tariff beyond Social Security, and receive in addition to the lightening of their burdens. Conversely, in areas with a concentration of very large excesses (Paris, Lyon, Paca …), the Mutual fears that the track is "unattractive to practitioners" and therefore ineffective. For patients without supplemental coverage (less than 10% of the population), the problem will remain the same for them.

The solution is partial, imperfect, its success is not guaranteed. She still deserves to exist, after years of fruitless negotiations between doctors, health insurance and mutual agreements signed no tomorrow, and threats of intervention policies ever implemented.

]]> http://parasiteevecentral.com/imperfect-solution-to-the-excess-fees/feed/ 0 http://parasiteevecentral.com/right-to-dismiss-monti-is-facing-unions/ http://parasiteevecentral.com/right-to-dismiss-monti-is-facing-unions/#comments Tue, 20 Mar 2012 10:12:06 +0000 admin http://parasiteevecentral.com/right-to-dismiss-monti-is-facing-unions/  

Italy is close to a historic agreement to reform the labor law, but negotiations stumble in the home straight on the amendment of Article 18 governing the right of dismissal.

Council President Mario Monti today convenes unions and employers for a new round he would have liked, if not definitive, at least open to a deal by Friday. Elsa Fornero, Minister of Labour and the law expert of the work she has long taught at the University of Turin before joining the government in November in "technical" professore, tirelessly led consultations with social partners since early January.

So far, no union, not even the most powerful and most recalcitrant of all, the CGIL, has left the negotiating table, which is itself a success. Yet this same CGIL, which began last Saturday through an agreement approved by the employers and political parties including the Democratic Party.

The support of Silvio Berlusconi

The boss of the union, Susanna Camusso, requires that a worker dismissed for reasons deemed "unfair" to be reinstated in firms with fewer than fifteen employees, as is the case in large companies. A term is deemed economically unsustainable by SMEs, which represent 95% of the industrial Italian.

For its part, the government proposes to leave the decision in court and to establish a compensation of up to 24 months' salary in case of redundancies. Ten years ago, March 23, 2002, at the call of the CGIL, three million workers were demonstrating in Rome against the relaxation of the right to dismiss. Silvio Berlusconi, who was then forced to backtrack, now endorses Mario Monti in his attempt to reform.

Jungle contracts

According to La Repubblica, the CGIL can not easily accept a reform so difficult, after being imposed in December, a pension reform which it disapproved. Workers Confederation criticized moreover the government not unlock 1.2 billion euros in state subsidies to reform the Labour Code who claims 5 billion.

Surprised by the reversal of the CGIL, the moderate unions have undertaken to consult with the Democratic Party to mediate. They should submit a proposal to cons-Mario Monti Tuesday. For its part, the employers threatened not to sign the reform, should it be watered down.

Elsa Fornero is determined to move forward. "We will not discuss endlessly," she said. The Government believes that reform "crucial" for renewed growth. The size in the jungle of contracts and collective agreements, reducing it from 40 to 8.

In addition, to stop the proliferation of temporary contracts that place young people in precarious situations, it provides a three-year apprenticeship during which companies will be entitled to terminate, after which they will be forced to hire permanently. Lack of social agreement, Elsa Fornero announced that the government will submit its draft to Parliament.

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Adecco France announced Thursday the elimination of 530 positions in France, a total of 6300. This plan of "voluntary departure", which aims to combine the two networks of investment generalists Adia and Adecco Adecco under one brand, will affect agencies and support functions.

It is implementing the strategy of the world leader in the interim, does one relativizes at Adecco France. The process accelerated by the economic environment, aims to "preserve the group's competitiveness in the market for temporary recruitment and generalist." It is not comparable with the 600 job cuts in 2008, due exclusively to the economic crisis, said a spokesman of Adecco France.

The worldwide turnover of Adecco also apparent at 20.5 billion euros in 2011, an increase of 10%, a growth rate also applies to the French subsidiary. And its net income rose 23% to 519 million euros. The placement remained "moderate" but "the general investment, particularly in the industrial sector, continued to drive growth," said CEO Patrick de Maeseneire.

2012 will be "difficult"

Not surprisingly, the economic downturn, however, mark the results of Adecco from the fall. Its turnover has stagnated in the last quarter of its two main markets, the United States (18% of sales with Canada) and France (28%) guaranteed payday loans. In January, revenues fell 9% in the Hexagon, the world leader in precise placement of staff.

"The activity has deteriorated since October. We see a significant drop from December, with a 8.4% drop in interim placements, followed by a similar drop in January. In February and the trend is not good, "says his side Arnaud de la Tour, French trade union president Prism.

The decline is very clear in the automotive industry and also quite strong in construction, two sectors, each representing 20% ​​of the interim in the Hexagon. Agribusiness and aerospace are doing, however, still well. But the year would be "difficult", provides Arnaud de la Tour.

It is however far from the 2008-2009 crisis. The activity had declined sharply by 30%, losing 240,000 full-time equivalents, the worst decline since the trade. And the rise was almost as brutal, the market recovering almost to its previous level in summer 2011.

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The chair of the Digital Economy Paris-Dauphine University launches its new Thursday night barometer of the digital economy. Made with Médiamétrie each quarter, the barometer measuring various indicators of the digital equipment of households, while taking stock of current issues.

While the beginning of the year 2012 was marked by the arrival of Free Mobile with a bang, "86% of Internet users were aware of the launch of Free as a new mobile operator," said Dominique Roux, Scientific Director the pulpit. A very high reputation, achieved with almost no advertising, where men and more affluent (AB +) are particularly well informed. Only a few women surveyed said they did not know the name of the new operator, while 2.1% of respondents thought the new operator was Darty and it was 1.9% of SFR.

A jungle

Very informed about the arrival of this new operator, the French, which was often lost in the jungle said packages, on the contrary appear well aware of the amount of their mobile tariff. Nearly three quarters of respondents said their pay package in early January between 11 and 50 euros per month, with disparities between profiles. Thus, the 50 and older and unemployed spend less than all (mostly between 11 and 20 euros), while women aged 15-34 and pay slightly more for their package (between 21 and 30 euros).

An inventory should be radically changed in the months ahead as Free Mobile has launched a bid to € 2 (call for one hour and 60 SMS) and an unlimited plan for 19.99 euros a month, and that all competitors have responded by lowering their prices. "While two thirds of the French pay 20 euros more than their monthly mobile plan, it will be interesting in the coming months to see how this figure is changing the face of offers of Free Mobile and the response of competitors," says Charles Juster Médiamétrie.

The arrival of Free Mobile showed that the French were ready to switch operators to reduce their mobile bill. This price sensitivity is also found on the Internet, while nearly three in four homes are now equipped. According to the barometer Médiamétrie-Dauphine, 85% of French would be willing to change their Internet provider to pay less. Ages 15-34, more tech-savvy and uses more developed (video, audio …) than other targets, pay more interest overall quality (and connection speed), the services offered and hardware features provided.

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