Top Economics News

Adecco is Tuesday first-quarter results better than expected, while announcing that the European environment is expected to remain difficult as North America, the second largest market of digital ; ro a global placement of personnel, should instead continue to do well.

The net result of the first three months of the yearâ increased 12% to 112 million euros, while analysts polled by Reuters had expected on average 100 million.

"We started in 2012. The turnover of the first quarter of 2012 is almost the same level as in the first quarter of 2011, a solid performance given the headwinds that blow in Europe, "says Patrick de Maeseneire, Director General ral of the Swiss group, said in a statement

. "Our sales in North America continued to hold up well." Revenues

the period rose 2% to 5.035 billion euros, against a consensus of 4.991 billion ..

……. Randstand, Dutch rival Adecco, spoke about the uncertain developments in Europe while the U.S. pre Manpower said ; see a double digit decline in southern Europe in the second quarter

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The bill to nationalize the oil company YPF, the Spanish subsidiary of Repsol was adopted Wednesday in the Argentine Senate committee, which should allow the vote in plenary sitting of the text ; re next week.

Argentine President Cristina Fernandez announced Monday his intention to nationalize 51% of YPF, the first oil company in the country, drawing criticism from the international community.

Wednesday, the government decided to include the company YPF Gas, another company controlled by Repsol, which distributes propane and butane, in the Bill of nationalization of YPF.

The action YPF, which had already fallen in anticipation of the announcement of the nationalization, has still dropped 28% Wednesday. 

Tuesday night, Argentina announced that it had no intention of paying the $ 9.3 billion (7 billion) claimed by Repsol YPF to 51%.

"Everyone knew that the risk of nationalization was high," said an Argentine economist familiar with the matter YPF. "But now we have more information on the price that Argentina wants to pay for a controlling stake in YPF."

The United States said Wednesday that the proposed nationalization was a "negative development" and said they were very concerned.

Spain for its part should ask the EU to avail of the World Trade Organization (WTO) to ensure the open proceedings against Argentina.

A meeting of European foreign ministers is scheduled for Monday to decide how to resolve the dispute between the two countries.

Takeda Pharmaceutical announced Wednesday the purchase for $ 800 million (609 million) of URL Pharma, a U.S. laboratory specializing in the treatment of gout.

The first Japanese pharmaceutical company will provide further value based on future performance from 2015.

Japanese pharmacists are engaged in a flurry of overseas acquisitions, Takeda announced in the May 2011 takeover of Swiss laboratory Nycomed for € 9.6 billion.

URL Pharma achieved a turnover of about $ 600 million in 2011. Its main product is Colcrys, a drug for the treatment and prevention of gout.

Net sales Colcrys exceeded $ 430 million in 2011.

Arnaud Lagardère, General Partner of Lagardère, has made further sales of shares of media group for a little over 1.7 million, after have recently sold for eight million shares.

According to advice published by the Financial Markets Authority (AMF), new assignments were made on 19 and 20 March for a total of 74,247 titles.

Arnaud Lagardère had already sold 346,653 shares between March 16 and 12, or 0.26% of the capital.

The group had indicated that these transactions were within the framework of the "unwinding of a financing package set up by BNP Paribas in 2004 to mark the settlement of the estate of his father and under the relevant contract. "

Increasing the number of unemployed is expected to slow in February, according to the head of state. He sees a sign of economic recovery. For the month of February, Nicolas Sarkozy expected to increase "quite moderate" unemployment.

The president candidate unveils unemployment figures in February. Nicolas Sarkozy says the monthly unemployment statistics, which will be published on Monday evening show "a fairly moderate increase" the number of job seekers for February.

"The numbers tonight will demonstrate an improvement in the situation with a declining trend in increasing the number of unemployed. This increase is quite moderate," Sarkozy said on France Info. He said it "reflects a significant economic recovery since we tried to solve the financial crisis in Greece, this financial crisis that created a crisis of confidence, which itself creates an economic crisis".

In January, the number of unemployed rose by 0.5% compared to December, a rate cut in half compared to previous months, the total number of unemployed at 2.8 million people.

Privatization of tax collection, open to private hospitals, creating a single tax on companies by 15%: the leader of the Conservative party of New Democracy, Antonis Samaras, on Wednesday presented his recipes out of the crisis. The Leader of the Conservative party of New Democracy, Antonis Samaras.

The France of the ancien regime had its tax farmers to collect the tax in place of the state. Greece does go so far if the leader of the Conservative party of New Democracy, Antonis Samaras, came to power after the next election? Among his proposals to end the crisis, because it evokes a form of outsourcing privaisation or tax services.

"We advocate a single tax on companies by 15%, and at the same time we must ensure that there is not a crook in the system (tax, NDR). If necessary, we will use the type of private KPMG (audit firm, ie) to help us collect taxes, "said Mr. Samaras a delegation of journalists Spanish, Portuguese, French and Maltese visit Greece on the initiative of the European Commission. "We will use outsourcing services even if we also try to make public employees more competitive," said Mr. Samaras, whose party is leading the polls for upcoming elections in Greece, planned a priori in May

. Mr. Samaras reiterated that his party was committed to "submit to the policy "contained in" Memorandum "(the RAP of the economy) signed by Greece with its European partners in exchange for loans vital for the country. "We ask only a modification of certain policies to promote growth and stop the cycle of recession," he emphasized, however.

Greece is in recession for the fifth consecutive year. Questioned by the press on the responsibility of his party, in power between 2004 and 2009, in the current crisis in Greece, Mr. Samaras was rather minimized by rejecting most of the blame on the socialist party PASOK, with which He currently shares the power within the coalition government led by Lucas Papademos. "I do not mean that my party has no direct or indirect responsibilities in what took place

. We have not done some things we should have done, but PASOK did things he should not have done, "he said. "We have privatized Olympic Airways (…) but we have not privatized enough," he said, also refusing to recognize a liability for his party in the inflation of the country's public deficit in 2009.

Revision of deficit by the Socialists in 2010 (from 6% to 15% of GDP), which has crossed to Greece access to capital markets by triggering the IMF and the European Union (EU) for Rescue of the country, the subject of an intense political battle between New Democracy and PASOK. "To restore the credibility of Greece in this area, we did the right thing by appointing an independent person at the head of the statistics agency," said Secretary of State for Finance Yannis Mourmouras, this the meeting. "There is more political interference," he said. Moreover, on immigration, Mr. Samaras said he was "determined" that Greece "does not become a magnet for immigration" asking "a common policy in Europe" on the subject.

March 11, 2011, a violent earthquake struck Japan, followed by a giant tsunami that resulted in the Fukushima nuclear disaster. Quantitative assessment, inventory of nuclear stock of the Japanese economy: five links to learn more about this sad anniversary. Tepco employees check the levels of radioactivity of the nuclear accident in Fukushima, in the province of Daiichi (northeastern Japan)

There are just over a year, March 11, 2011, northeastern Japan was devastated by an earthquake measuring nine coupled with a tsunami of historic proportions. The disaster has claimed thousands of victims, caused enormous damage and caused the nuclear accident at Fukushima.

In pictures, the great figures of the earthquake

Minami-Soma, city of Fukushima prefecture, was devastated by the disaster. This small coastal town near the nuclear power plant has lost thousands of its inhabitants. The survivors are now wondering about their future. Many have already fled. Remain ghosts and memories.

Report: After Fukushima, the city of Minami-Soma broken

That day, March 11, 2011, Naoto Kan, the then Prime Minister of Japan, was in the upper house of the Diet, where he answered questions from the opposition. Exclusive to L'Express, he tells how he lived and managed the disaster crisis.

Interview: "Fukushima has a human cause"

The disaster cost the Japanese economy has plunged into recession. Japan's GDP fell 0.7% in 2011. The country now seems out of crisis. Growth expected to reach 2% this year. But this rebound is largely artificial.

Analysis: What is the Japanese economy?

The Fukushima nuclear disaster has brought discredit to the entire industry. Fear of nuclear is back in the public opinion of developed countries, pushing many governments – including Germany – have announced their willingness to exit this mode of energy production. Yet it is clear that today's nuclear industry is doing well. Besides the contrasting reactions in the West, emerging countries are determined to take advantage of the strengths of the atom.

Understanding: Why nuclear winter has not taken place

In Japan, only three of 54 reactors still operating aujoud'hui. That of Fukushima is stopped. The area is off limits, because the radioactivity level is high. Tepco, the operator says the situation is under control. Roland Desbordes, Commission President for Research and Independent Information on Radioactivity (Criirad), in doubt.

Interview: "The explosion in central Fukushima is still possible"

In France, where 80% of electricity is nuclear, Fukushima has shaken public opinion. The debate on nuclear phase-out has made a great comeback. A year later, ecology seems the most overlooked of the presidential campaign. Environmentalists, advocates of a permanent exit from nuclear, are credited with less than 5% of the vote. Their socialist allies negotiated a minimum agreement. A group called "Generation Fukushima", who fight against nuclear power, attempts to remedy this lack.

Read on Express Yourself: "Your nuclear legacy, we do not want it!"

The rating agency Standard and Poor's downgraded Monday the credit rating of Greece to "SD", a level corresponding to "selective default. Anti-austerity protesters in Parliament in Athens on 7 February 2012.

. The rating agency Standard and Poor's downgraded Monday the credit rating of Greece to "SD", a level corresponding to "selective default", to reflect the restructuring of government debt launched Friday. S & P said in a statement it plans to raise the rating of the country to CCC rating assigned to issuers of poor quality with a real risk of default, when this operation has been fully carried out, probably around mid- in March.

The decision of the U.S. Agency was expected since it had indicated in the past it would raise the note by Greece SD begin as soon as the implementation of the Agreement on Cessation of Athens claims made by private financial institutions. However, "if a sufficient number of bondholders (public) Greek did not accept the exchange offer," wrote S & P said in a statement, "we believe that Greece would present an imminent risk of default characterized payment "to the extent that the release of the rest of the assistance promised to the country by the euro area and the International Monetary Fund is subject to the successful debt restructuring of Athens.

A default is characterized reflected in the note "D" in the notation of S & P. "I take note of the decision" S & P, said the leader of Finance Ministers of the euro zone Jean-Claude Juncker, in a statement released in Luxembourg, adding that he expected a "strong participation "of private creditors in the operation launched Friday.

This exchange transaction should allow Greece to obtain a cancellation of debt of 107 billion euros. Greece aims to give private creditors participating in the operation of shares worth 53.5% less than those they currently hold. A quarter of those titles that creditors will receive bonds from the European Stability (EFSF), presumably with a maximum maturity of two years. The rest will consist of new Greek bonds with maturities ranging from 11 to 30 years, a period much greater than those they replace.

The goal is to push the repayment schedule of Greece on the amounts it still accepts honor, for giving him time to recover. If successful, "we should consider that the incident of the partial failure of Greece belongs to the past," wrote S & P, for which the possible increase of the rating to CCC would then account "the economic growth outlook uncertain of the country "and its" public debt remains strong ", even after restructuring.

Several Directors of Veolia Environnement, whose CEO of EDF Proglio, are preparing to head the group's CEO, Mr. Frérot, reports financial daily Les Echos in its edition Monday.

The former Minister of Ecology Jean-Louis Borloo is among prospective successors, the newspaper said, predicting that a Board of Directors of Veolia Environnement scheduled on February 29 will be crucial.

Contacted by Reuters, a spokeswoman for Veolia declined to comment.

The EDF Group, through its subsidiary EDF Energies Nouvelles Spread (EDF ENR), today announced it filed Friday an offer for the resumption of Photowatt, the only French manufacturer of solar cells ; silicon.

Nicolas Sarkozy announced Thursday that he will present next week a bailout of Photowatt, the leading French photovoltaic, involving EDF.

The company employs 441 employees at Bourgoin (Isère), was placed in receivership after filing for bankruptcy last November. 

The Head of State, speaking during a visit to the Fessenheim nuclear power plant, said he would travel next week Photowatt "because thanks to EDF, we pre ; senterons employees Photowatt a formula of industrial recovery. "

In a statement, EDF said that Photowatt owns 40% of PV Alliance, the leading research and development in the field of photovoltaic technology, in which EDF ENR has already a 40% stake alongside the CEA (20%).

"The offer of EDF ENR will be conditioned to include the recovery of 100% of PV Alliance and to obtain an exclusive worldwide license on heterojunction technology, called to replace the current technology in the years to come, "the group wrote. 

"Given its presence in Photowatt through PV Alliance, EDF ENR appears as the natural candidate for the resumption of Photowatt," said Jean-Louis Mathias, Chief Executive ; EXECUTIVE group in charge of renewable energy.