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Sony's new boss, Kazuo Hirai, did not wait long to make the painful cost reductions promised. According to Japanese newspaper Nikkei on Monday, the Japanese group will proceed in the year to the elimination of 10,000 jobs worldwide, which corresponds to 6% of its workforce. Sony has not confirmed this information for now.

The group fears a net annual loss of over $ 2 billion for the year ended March 31. In addition to the ill health of his division TVs, Sony has suffered, in 2011, the soaring yen, Japanese tsunami and flooding in Thailand. Hit hard by the crisis of 2008-2009, the electronics giant had already eliminated 16,000 jobs during this period.

In February, Kazuo Hirai had prepared the minds of a new wave of job cuts: the former head of Sony's games division, officially inducted Group CEO on April 1, announced that it would take "tough decisions involve layoffs, and reduce fixed costs in some areas, "to restore profitability.

Kazuo Hirai then spoke of the sales divisions of Sony in Japan, Europe and the United States and its supply chains. According to Japanese daily, half the job cuts announced should also result from divestitures. A few weeks ago, Sony had sanctioned the sale of its chemical activity, for the manufacture of LCDs, which employs nearly 3,000 people. The transfer should be effective in the last quarter 2012.

Marrying content and products

The disposal of these chemical activities is a first step in the restructuring of Sony. The group suffers from poor health of his TV division, which has grossed more than eight billion euros in losses over the past eight fiscal years. Kazuo Hirai himself has undertaken to restore the profitability of this division, undermined by the strong yen and fierce competition in two years.

Preferring to take advantage of lower prices of liquid crystal displays (LCD) rather than lose, the Japanese had already withdrawn from the joint venture owned with Samsung LCD, whose impact "on costs too heavy" had been singled out. Sony has no plans to abandon much of that product category. The television division is considered "critical" by Kazuo Hirai, who hopes to have it return to profit by reducing costs.

More generally, the new CEO of Sony account revive its brand by marrying more products and content. "The material leads to software to hardware and software," said he. A strategy that has already been implemented successfully in the video game division of Sony, Sony Computer Entertainment. In addition to manufacturing phones, tablets, game consoles, cameras and PCs, the Japanese group is indeed also a producer of content, through its film studios and music.

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Is this the end of the Eldorado Quebec? Federal Budget 2012 the country expects a cut in tax credits related to the fields of research and development so that the state could save 1.7 billion Canadian dollars (960 million). Primarily affected, the big video game companies like Ubisoft French, the British or the American Eidos Electronic Arts (EA) who massively shifted their best studios to take advantage of the generous policy of tax incentives in Quebec.

For several years, much of the so-called AAA games, video game equivalent of Hollywood blockbusters are produced in this province. The series of Mass Effect (EA), the recent Deus Ex: Human Revolution (Eidos) or future Assassin's Creed and Far Cry 3 3 (Ubisoft) are all stamped "Made in Canada". To attract this industry, Quebec has indeed set up a tantalizing tax credit that can reach 37.5% of the total wages paid by the company.

Unbeatable, and pay: a recent study shows that the number of jobs in the video game industry in Quebec has increased from 1,200 in 2002 to 8,000 in 2011, an increase of 564%. "If a few companies well established in Quebec managed to find an interesting progression, recent years have been especially marked by the arrival of new foreign multinationals," says the study TechnoCompétences. In France, the studio Quantic Dreams (Heavy Rain) and threatened to relocate its operations in Canada if the tax credit French video game, developed since 2008, is deleted by Brussels this year.

"Ireland or the United States become more attractive"

The 2012 federal budget could mess up this trend. If Quebec allows for the first time in its local businesses to benefit credit of 37 bad credit unsecured personal loans.5% on the cost of labor, in return, foreign companies are losing some of their benefits. The tax credit for research and development (R & D) increases from 20 to 15% on budget vote in Ottawa. As of 2014, will be excluded from the calculation of this device in hardware expenses. The share of wages from 65 to 55%, and the deduction of R & D done by subcontractors will go 100% to 80%.

"Since last week, invest in the creation of new video games cost more. Canada is one of most industrialized countries to invest in R & D is affordable, "said an analyst at PricewaterhouseCoopers Montreal Quebec newspaper La Presse. "The impact is negative and significant for all major video game publisher based in Montreal and Canada. Suddenly, countries like Ireland or the United States become more attractive, "he says.

French side, it puts the impact this decision could have on the domestic market. "This is still a very generous and much larger than what one can have in Europe," said Julien Le Figaro Villedieu, managing director of the National Union of video games (SNJV). In recent years, France has lost half its jobs in the sector, according to the State Secretariat for Foreign Trade. Number of French creative studio left to join Quebec where they can work on ambitious projects. For SNJV, the slowdown in Canada should allow a rebalancing of power relationships between the major producers of video games and Canada, which has for many years "a very powerful competitor, aggressive and confusing".

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Continuation and conclusion on the issue of allowances Lauvergeon. Except cons-order last minute, the former president and CEO of Areva touch Tuesday amounts associated with leaving the nuclear group: one million euros – the equivalent of one year's gross salary excluding bonuses – which 500,000 euros in addition, financial compensation to a non-compete clause. Jean-Cyril Spinetta, Chairman of the Supervisory Board of Areva, has asked the company to make the regulation of 1, 5 million in all.

In late March, the Minister of Economy, Baroin, had indicated in writing that "the implementation of the proposals of the supervisory board being the settlement agreement did not call for opposition (his) hand." He belonged to Jean-Cyril Spinetta to apply – or not – this protocol. It ruled.  

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In trouble in Europe, PSA could have done to the Iranian crisis. But the group's activity in this country is at a standstill for several weeks. This disturbance is nothing trivial. Although he appears quiet on the subject, Iran is in fact the second largest group, with 458,000 sales in 2011, about 3.5 million.

This country, in which Peugeot holds nearly 30% market share represents 22% of the volume of the brand. It is even the main market of the Peugeot brand for passenger cars, ahead of France.

While these sales are made by Iran Khodro, the local partner of PSA. The manufacturer assembles on site of Peugeot 405 and 206 including parts manufactured in France, the site of Vesoul. "The Iranian volumes represent only 1.5 to 2% of sales of the automotive division. These disturbances will not have a significant effect, "a spokesman relativizes. This division has reached 42.7 billion in sales last year, Iran contributes an amount of 640 to 850 million euros, which is not negligible. These revenues come from sales of CKD units, spare parts, as well as royalties paid by Iran Khodro. "Although we currently have other more important concerns, Iran is a thorn in the PSA. This is all that activity, which requires few resources, gives off a good return, "says an inside source.

Renault, a different case

Specifically, the manufacturer is paralyzed by financial sanctions imposed by the United States and the European Union to try to force Tehran, suspected of wanting to develop atomic weapons, to renounce its nuclear program. Remittances are prohibited between Iranian banks and European banks, the group "can no longer finance its activities to Iran," which led him to "suspend shipments to Iran." Consequently, the site of Vesoul, paralyzed since late February, will again be laid off in April. The workshop that manufactures parts employs 285 people. These parts are mostly to the 206 (approximately 40% of Peugeot's sales in Iran), the supply of 405 taking place almost exclusively in Iran.

This "situation may last," do you recognize internally. This is all that PSA is now allied with General Motors (which owns 7% of its capital), in a context where the U.S. increasing pressure on Iran. "GM has to its investors and customers forcing Peugeot to end its activities in Iran," said Mark Wallace Tuesday, Director of UANI (United Against Nuclear Iran) and former U.S. ambassador to the United Nations, calling on Congress to investigate the PSA-GM alliance.

Paradoxically, his rival Renault hopes to continue to increase sales of Logan in Iran. Unlike PSA, Renault has a joint venture with local manufacturers Iran Khodro and Saipa. "Sanctions do not apply to the automotive sector," said Renault, which states "to respect the regulations." The Diamond has doubled its sales in 2011 to 93,600 copies.

The "Made in France" is a fashionable theme. And presidential candidates do not hesitate to dress their activists held in the Armor Lux Breton brand to prove their commitment in this area. Only 49% of French, yet are willing to pay more for local products, according to the latest brand Observatory * France, released Thursday by ViaVoice and marketing agency W & Co. Less inclined to protectionism as candidates, they are rather in favor of promoting offensive "skill and performance of French companies abroad." Therefore, they plébiscitent overwhelmingly (87%) creating a "brand France." "The possibility of a recession causes (…) a frantic search for poles of trust under the survival reflex", decrypts Gancel Denis, president of W & Co., in a recent blog note. "The" Brand France "can be leveraged to revitalize our exceptional growth."

As a standard-bearers, the French elect definitely automotive and telecoms! According to the study, 30% of them put Renault at the top of companies that provide the best image of France worldwide. Yet the image that has been severely tarnished by the case of false intelligence which sticks to the skin since late 2010. Still, the manufacturer is the diamond followed by rival PSA Peugeot Citroen (27%) and that, while the year 2011 has not been blazing for French car sales groups. Far enough behind, the phone operator Orange came third (13%) cash till payday advance.

The luxury does not have the side

For 60% of the French industry is one of the "main economic assets" of the country, just behind services (61%). This explains why, after the top three, the companies Bouygues (4th), Total (5th) and EADS / Airbus (6th) are listed among the best ambassadors of France. Strangely, the jewels of French luxury, yet acclaimed abroad, earning a lower "votes". Cited by 8% of respondents, L'Oreal wins seventh, followed by Chanel (8th), LVMH (10th) and Dior (11th). Achieving the same score (6%), EDF slips into this small group, at the ninth position. Finally, distribution and food are a laggard, Carrefour (5%) and Danone (4%) respectively arriving in the 12th and 15th positions. But the big loser in this edition of the Observatory is Areva, which was attended by only 3% of citations this year against 12% last year. The nuclear industry has lost its potential for seduction since the catastrophe of Fukushima there just one year.

(*) Survey conducted from February 22 to 29, 2012 online among a sample of 1001 persons, representative of the French population aged 18 and over.

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The "budget day" is not an easy feat in the UK. Wednesday morning after getting out of his office of 11 Downing Street hand with the red briefcase containing his proposed budget, the Chancellor of the Exchequer, George Osborne, was followed by a helicopter news channel Sky News on its journey to the seat of Parliament at Westminster, not far away. Before the deputies, he presented his proposals "pro-business without shame" for the fiscal year that starts in April.

The controversial reduction in higher rate of income tax from 50 to 45% is confirmed and a reduction in corporation tax from 26% to 24% next month, and 22% of by 2014.

Difficult to continue to blow that austerity for everyone, as pointed out by the opposition Labour leader Ed Miliband instant payday loan lenders. The government counters that it compensates for these cuts by increasing taxes on real estate or a hunt for tax evasion. But one of the major economies is the reduction of social benefits, including family allowances, approved last month.

Despite this fiscal redistribution, the Minister of Economy did not budge from its priority to fiscal consolidation. The objective of removing the budget deficit in five years remains valid. But the euro crisis requires, it was shifted to two years to 2017. The deficit will still be 143 billion euros this year. It was only after 2015 that the debt could theoretically decrease.

Anticipated recovery of investments

How will change employment in France in the second quarter of 2012? A little better than the first quarter 2012 but a little worse than the second quarter 2011, according to the latest Manpower employment outlook released Tuesday.

"For the second quarter 2012, the companies surveyed by Manpower Group in France expect a slight increase in employment opportunities. The net employment stood at 2%, one percentage point increase over the first quarter of 2012, but down one point compared to second quarter 2011, "said the giant temporary employment and recruitment. The general trend is still a huge wait because, for the period between April and June 2012, 88% of employers surveyed do not foresee any changes in their workforce, while only 6% anticipate an increase in their numbers.

These results compare employment opportunities in the world, where the results are generally much more positive. "Employers in 32 of 41 countries and territories surveyed expect to increase their workforce in varying proportions for the second quarter of 2012," says the barometer Manpower.

In Europe, the most optimistic outlook are observed in Turkey (26%), Israel (17%), Romania (13%), Norway (11%), Germany (9%), Sweden (9 %), Slovenia (9%), Bulgaria (8%), Poland (6%) and Austria (6%), Manpower said. In the "Americas", the ten countries studied show a positive net balance in the quarter. This is Brazil, with a positive net balance of 39%, which remains the most optimistic countries in the area. Finally in Asia-Pacific, eight countries in the region show a positive net employment for the second quarter, but on the previous year, the trend is towards degradation since six of the eight countries are reducing their net. According to Manpower, the recruitment programs the most important will be located in India (44%), Taiwan (+31%), China (+21%) and Singapore (20%).

The West and the South of France most dynamic

All French regions are not as dynamic in terms of jobs and recruitment. For Manpower, only employers in South and West show a net positive employment for the second quarter 2012 compared to the first, 7% and 8% respectively. However, the North and the Ile de France display a net negative employment of -3%.

The record is darker on a yearly basis for comparison: three of the five regions studied announce a reduction in employment opportunities, with a decline of 6 points in the East, by 3 points in the Ile-de-France 2 points in the North.

The manufacturing sector will be the less buoyant

To which sectors should be directed to hope to get a job? The Manpower emphasizes that for the second quarter, employers in seven sectors of the ten surveyed anticipate an increase in their numbers. These are public services, hotels and restaurants (3%), transport-logistic (3%) and trade (3%). Conversely, employers in the sector of manufacturing and the extractive industries project a decrease in their numbers. From one year to another, only five out of ten sectors are seeing improvement in their net employment (trade, transport and logistics, utilities, hospitality industries, extractive industries). Manufacturing is the sector with the largest decrease, with -7 points over one year.

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The Paris Bourse addresses the meeting on an optimistic note. The CAC 40 in advance of 0.57% in early trade at 3,411.55 points. After a small rebound by 0.89% yesterday, the CAC 40 is expected to continue its momentum on Thursday and follow the trend set by Wall Street and Asian stock markets which closed on beautiful hikes.

This is the big day for Greece. At 21 hours (Paris time), we know the rate of participation of private creditors in the debt swap. The number must be greater than 75% to avoid a bankruptcy of the country. Last night, more than half of the creditors involved in the transaction was agreed. Greece is not less than 90% participation.

Earlier this afternoon, the President of the ECB, Mario Draghi, should leave unchanged its interest rate to 1% following two consecutive declines of 25 basis points each.

Euro and oil rose slightly

On the foreign exchange market, the euro rose 0.13% to 1.3168 against the greenback dollar. Side of the oil markets, Brent was stable at 124.26 dollars and WTI rose 0.14% to 106.30 dollars.

Investors will also digest of new business publications. EADS (+6.3% to 28.55 euros) announced an increase of 87% of its annual net profit to 1.033 billion euros and an increase of 7% to 49.13 billion of its turnover.

The distribution group Carrefour (-0.77% to 17.48 euros) announced a net profit down 14.3% for 2011 to € 371 million and a dividend halved to 0.52 euro per share , after a difficult year, marked by three profit warnings.

Air France-KLM (-2.20% to 4.09 euros) registered last year a net loss of 809 million euros and an operating loss of 353 million. The airline, whose sales rose 4.5% to 24.36 billion euros, has set a target to stabilize in 2012 its net debt to 6.5 billion euros.

The U.S. company Simon Property will acquire a 28.7% Klépierre (4.94% to 24.55 euros) with BNP Paribas, which held 51% stake in the French property.

The display group and JCDecaux street furniture (0.84% ​​to 20.90 euros) made a leap from 22.7% to 212.6 million euros in net profit after minority interests in 2011, thanks a booming business. Moreover, according to chief executive, Jean-Francois Decaux, the expected benefit this year of holding the Summer Olympics in London, which should generate six to seven points of additional growth in outdoor advertising.

The chemist Arkema (1.65% to 67.83 euros) has revised upwards its medium-term objectives, relying for now on a 2016 turnover of EUR 8 billion and a gross operating income ( EBITDA) of $ 1.25 billion, showing an early 2012 recovery in activity.

France still has destroyed jobs

On the macroeconomic front, 22,600 jobs have been destroyed in the fourth quarter after the removal of 31,500 jobs in the third quarter, according to figures from INSEE. Moreover, the trade deficit of France increased by almost 300 million euros in January compared to the previous month, reaching 5.324 billion euro, Customs officials said Thursday.

Across the Atlantic, one indicator is on the agenda: the weekly claims for unemployment benefits (1430).

Germany has been shaken Monday by a wave of strikes in public services. Consequence of the good health of the German economy, despite the crisis in the euro area: trade unions Ver.di and DBB are demanding wage increases of 6.5% after ten years of effort. The failure of negotiations started last week caused a series of movements that need to occur across the states throughout the country until the end of the week.

Monday, nurseries and kindergartens in Kiel, the capital of Schleswig-Holstein, were closed while the garbage was not picked up in Hamburg. "Several thousand" civil servants took part in the movement in Hesse, according to the services union ver.di Approximately 3,000 others were on strike in the neighboring state of Rhineland-Palatinate.

The city of Frankfurt, the financial capital of the country, was particularly affected traffic in metro and tram stops completely. Cruises on the Elbe are canceled and administrative services will run at idle in the north on Tuesday.

Wednesday, all municipal utilities will be affected in North Rhine-Westphalia, the most populated of Germany, and in Baden-Wuerttemberg, one of the richest. And a touching move 10,000 civil servants in Bavaria was announced Thursday. Only the city-state of Berlin is spared for the moment.

Claims up sharply

With this "warning strike", the unions agreed to lobby in wage negotiations began last week, but did not give any result yet. They cover employees of the federal government and municipalities, but not those of the Länder, which depend on another collective agreement.

Ver.di and DBB (union officials) demanding an increase of 6.5%, with a minimum of 200 euros per month on the paychecks of two million civil servants concerned.

Besides the public, other major sectors of the German economy lead or are about to open negotiations, for which the unions, who agreed to wage demands put on mute during the crisis to safeguard employment, have reviewed their claims up sharply.

Negotiating the most anticipated, for the 3.4 million employees in the metal, due to open March 6. Led by IG Metall, which claims 6.5% increase, it affects steel, machine tools, machinery, automobiles, appliances or semiconductors.

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Better be envied than pitied. While Latecoere signed two months ago an agreement with its banks to clean up its financial position, the Alura Capital Partners Fund has just made its entry into the capital of aerospace equipment. According to our sources, the hedge funds in recent days has notified the company in Toulouse he had crossed the threshold of 2% of its capital. Contacted the two companies did not wish to comment.

The arrival of new investors reflects a renewed interest in Latécoère, caught two years ago by incurring excessive debt. Called into action by creditors in September 2010, Pierre Gadonneix, former boss of EDF, had initially prepared a quick backing of aerostructures specialist, before changing his mind. The group has completed in late December, its financial restructuring, aiming now to "participate in industry consolidation in a horizon of 2-3 years."

Some already are betting on an accelerated schedule, while the aerospace-defense is faced with the rise of civil aviation and the decline in military orders. The rating agency Fitch expects an increase in mergers and acquisitions over the next 12 months in the area. Consolidation to which the size of the encourages war chest of EADS and BAE Systems other: according to calculations by the agency, the cumulative cash flow of the six main European players reached 17 billion euros. If they do not want to return this money to shareholders, these groups will have to offer investment alternatives. Good news for them, as the funds Cinven and Carlyle, who had driven up prices of acquisitions in recent years, no longer have the same firepower.

Maneuvers

The maneuvers have already begun. According to Bloomberg, the British GKN is emerging as the favorite to take over Volvo Aero, a transaction of about 1 billion euros. Saffron is always the theater of operations in Italy to get their hands on the engine manufacturer Avio. For its part, Latécoère had received in early 2011, the takeover bids from the British GKN, the Dutch Fokker-Stork and Chinese Avic.

The AIF Alura Partners was founded in Paris in October 2010 by Alain Demarolle, former head of European investment fund Eton Park. The inspector, who had in 2008 a study mission on SWFs to the Finance Minister Christine Lagarde, received last month, the price of the international investor of the year the Paris-Ile- de-France economic capital.