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The textile industry is a mea culpa. Two signs are committed Monday to pay compensation to the victims of the collapse of the Rana Plaza building in Dhaka, Bangladesh. One of the first to be confirmed working with garment factories destroyed, the British Primark, said in a communiqué1 his local team "working on the establishment of an immediate and sustainable assistance to disaster victims." Specifically, the group made contact with a local NGO to provide "emergency food stocks' families and account" payment of compensation ", the amount is not disclosed. These funds will be paid to "children who have lost their parents," the "wounded" and "families of deceased workers."

While a demonstration was held in front of one of its stores in London 2dimanche, Primark will not pay alone. The group urged other retailers who use subcontractors collapsed building "unfold and offer their help." In the process, Loblaw first food retail group in Canada, recognized to be related to the accident through its subsidiary cheap Joe Fresh clothing and promised financial support to victims. "We are in the process of finalizing the contours," he says in a communiqué3. Like Primark, the Spanish retailer Mango admitted view past orders for 25,000 items from suppliers Rana Plaza in the early hours of the tragedy, but added that they were samples. According to the Clean Clothes Campaign4 Association, based in Amsterdam, the British and Spanish Bonmarché Corte Ingles also revealed their links with these workshops. Other companies that were suspected weekend5 including Carrefour brand Tex, C & A, Benetton or Wal-Mart, but denied.

The financial challenge of responsible production

While the drama was over 380 dead and thousands injured, about 3,000 people employed in the building, the pressure rises on the western textile giants. They are charged to enjoy a local labor at low cost without always ensure checks (security, social and production) on site cash advance flexible payments. In Bangladesh, where wages revolve around 30 euros per month, the union of textile workers (National Garment Workers' Federation) launched a petition 6to force the industry – and spéficiquement Primark, Matalan and Mango – to compensate victims. The text has collected nearly 64,000 signatures to date. "The negligence must stop. The deaths of these workers could have been avoided if these groups had taken the protection of workers seriously, "says Amirul Haque Amin, president of the union. The collapse of the Rana Plaza is the latest in a long list of industrial accidents that have killed more than 1,000 workers in Bangladesh since 2005, according to the International Labour Organisation (ILO) 7, which had a mission support at the scene of the disaster.

Most multinationals have yet signed codes of conduct intended to ensure that their products are made in responsible and ethical conditions, both on the front of the environment on the working conditions of employees. Primark, for example, is a signatory to the Code of Ethical Trading Initiative (ETI) 8, an alliance of companies, NGOs and trade unions which also counts among its members the names of other clothing and Distribution: C & A, River Island, Stella McCartney, Inditex (Zara), Gap, Marks & Spencer, Tesco, Sainsbury's, etc.. The challenge for companies beyond the marketing pitch. With the emergence of a global market for socially responsible investment (SRI) in recent years, the non-financial criteria are increasingly taken into account by financial players who invest in companies. At the end of January 2013, the global market for responsible investment reached 13.600 billion (more than 10,000 billion), or 21.8% of assets under management, according to the World Alliance of responsible investors (GSIA) 9. SRI in France weighed € 149 billion in 201210, up 29% compared to 2011.

In as little as 15 minutes you can receive online life insurance quotes without medical exam for coverage up to $500,000.

 

Cyprus and its donors have pulled in the night an agreement to avert immediate bankruptcy of the island, with EU support. But this rescue, acquired after fourteen hours of tense exchanges, results in the closure of Laiki the second bank, and a net loss estimated at between 30 and 40% for the largest depositors of the first institution, Cyprus Bank.

On paper, the Cypriots will escape the tax from 6.75 to 9.9% Eurogroup had promised them ten days ago on all bank accounts. In fact, the agreement submitted in the night to the final approval of the Eurogroup may cost much more to larger depositors, individuals, companies and non-residents, including Russians. Laiki will be immediately liquidated and they risk losing everything that exceeds 100,000 euros guaranteed by EU legislation.  

Cyprus Bank will be degreased and sharply reduced its balance sheet, with a proportional discount on deposits in excess of the limit of coverage. In both cases, these management measures that do not require approval of the parliament in Nicosia, unlike the tax originally envisaged. The two banks together represent about 80% of the island's financial system.

The outcome of the standoff, hired a week ago, however, allows both sides to claim a success. Nicos Anastasiades, newly elected President of Cyprus, avoid bankruptcy and can claim he has withdrawn his country to a tax spectacularly rejected by parliament in Nicosia. Europe, meanwhile, managed to keep the common currency in Cyprus and deny himself starve, as envisioned by the ECB.

"The best agreement can be reached," according to Lagarde

Christine Lagarde, Director General of the International Monetary Fund, described the agreement "as the best that can be achieved from facing challenges more complicated." The Eurogroup has given the green light for financial assistance. But its president, Dutchman Jeroen Dijssebloem said during a press conference concluding a meeting of the Eurogroup that the amount of aid donors (European Union and International Monetary Fund) is unchanged and 's' amount to 10 billion euros. "

The outcome was precipitated by an emergency appointment seventeen finance ministers in Brussels on Sunday evening. Sign of initial tensions, the meeting began in the middle of the night, with more than six hours late. In fact, this is a camera prior to reduced staff, with Anastasiades President, Herman Van Rompuy, José Manuel Barroso, Christine Lagarde (IMF) and Mario Draghi (ECB) has the breakthrough.

In the last hours, the leaders of Nicosia had ended up, after a long denial of the danger. "The goal is to save the Cypriot economy and avoid a debt default uncontrollable effects," acknowledged Cypriot President upon his arrival Brussels. The price of a rough exchange the Executive Director of the IMF, the President got the Cyprus Bank is not liquidated as Laiki, but kept alive and restructured. To achieve this, Nicos Anastasiades was up to his resignation in the balance. Once the compromise torn in small groups, the seventeen ministers of the Eurogroup have countersigned and set the details. "The immediate future looks difficult for Cypriots," warned Olli Rehn, "Mr. Euro "of the European Commission.

Remains a bitter pill to impose a government just installed a Parliament had rejected outright the first draft of the plan and Cypriots who has long believed in a miracle cure. The EU and IMF have not hidden that night that "restructuring" Banking is the hottest step sanitation of the island. Should follow as Greece, Portugal and Spain, fiscal consolidation and restoration of external accounts, with effect as a brake on the same activity.

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Saturday night by winning 23-16 against the Scottish XV, the Blues XV of France saved the furniture in their last match of the Six Nations. Success in extremis that does not allow the French to escape the wooden spoon, and will not be neutral finances of the French Rugby Federation (FFR). Lights for rugby, the RBS Six Nations is indeed substantial revenue in terms of ticket. And the sum of the organizing committee pays the FFR depends for 25% of the final ranking of the XV of France. The fourth-place finish in 2012 had resulted in a shortfall of 1 million euros over the 2011/2012 season. Manageable loss budget of 94.3 million. Especially as the finalist XV of France during the 2011 World Cup in New Zealand was largely offset this loss FFR had pocketed 2 million bonus from his sponsors.

The good performance too expensive for the same cost FFR: 5 million more a year of "salary players" for this place finalist in the World Cup (rugby bonuses for their summons, selections and victories in international matches). In the end, the poor performance in the tournament in 2013 can therefore make savings on 2012/2013: EUR 700,000 at a minimum according to our estimates *.

The image and attractiveness of rugby are involved

"In the medium term recurrence bad result would necessarily impact on the attractiveness of the product XV of France," warns François Hilbrandt however, a consultant specializing in rugby at Kurt Salmon. The popularity of the oval ball effect attracts many brands, allowing the federation to substantially increase its revenues in recent years. For example, the FFR chose earlier this year to French Renault BMW as a new sponsor for a million extra per year faxless payday advance.

But poor results were to reproduce the situation could change. In a crisis, the marks show indeed much more selective in their marketing investments. According to the White Paper of 2012 sponsorship of sports marketing firm Sportlab the XV de France is considered the second French team conveying the most positive values ​​behind the Experts handball and well ahead of France football team (3 % considering carrying values ​​very positive).  

38% positive feedback on social networks

But the results are mixed this season have already been felt on hearing: after good scores in the first match against Italy, France 2 has seen its audience share fall from 39.1% in 2012 (5.84 million viewers) to 29% for the 2013 edition (5.28 million viewers on average). And social networks, the very positive tone following the epic New Zealand is a little dull. According to the firm Synthesio specializes in e-reputation, 23% of mentions around 60,205 Tournament XV and lights are negative. "Despite the disappointing results, the tone around the XV de France remains generally positive, demonstrating the commitment of the French rugby for the" moderates still firm. However, some players have crystallized more criticism. With nearly half of negative comments, "Frederic Michalak and Pascal Pape them suffer a sporting tournament trickier" concludes Synthesio.

* Compared to what it would have cost if Grand Slam (83,270 euros per player). In the same case, the English would have received 115,000 euros each.

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Its massive silhouette left Thursday Saint-Nazaire, the port construction. With its 333 meters long, the "MSC Preziosa" is the largest cruise ship ordered by a European ship owner. After two years of construction, the vessel is the fourth vessel of a size comparable to the Italian-Swiss company MSC Cruises and the twelfth of its fleet.

"We need this size of boat to continue to offer a true holiday experience, says Erminio Eschena, CEO of MSC Cruises France, Belgium and Luxembourg. It is to respond to the heterogeneity of the public with a variety of equipment. "

Of ever larger vessels

In recent years, the owners engage in a race with ever larger vessels multiplying the range of leisure on board. While in the early 2000s, the average capacity was around 2000 passengers, she quickly rose to 3000 and now exceeds 4,000 people. The sinking of the Concordia, which sparked debates about the gigantic ship, nothing changed. The future flagship of Costa Cruises, the "Diadema" will welcome 5,000 passengers in 2014.

The formula seems to work. According to the International Association of cruise (Clia), the number of cruise French rose 9% in 2012 to 481,000 passengers pass when the European market grew by only 1%. France from the very late: the market occupies the fifth place in Europe, behind Great Britain and Germany. "It is rather a good figure considering the economic and market maintains a strong development capacity," said Georges Azouze, President of the French Association of cruise lines.

Good value for money

"With these large ships, the sector has benefited from a sharp drop in average ticket price has fallen by almost 30% over the last five years," said Didier Arino, director of consulting firm Protourisme. According to him, the quality / price ratio has progressed to the cruise vacation mode as an alternative, accessible to the greatest number.

Where upscale cruises on smaller ships often exceed 2000 euros per passenger, the tariff on these mégapaquebots which represent the vast majority of the offers may drop to 700 euros per week all inclusive, and even less with promotions.

Finally, the impact of the accident Concordia was more limited than expected. At MSC Cruises, it is estimated that the disaster had "no commercial consequence" while the side of Costa Cruises European leader recognizes that the tragedy has broken strong dynamics while adding, without elaborating, that the figure Business 2012 is in progress.

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The pound continues to slip. Tuesday, it fell below 1.4877 dollars, its lowest level against the U.S. dollar since June 2010. The book is depreciated by 8.3% against the dollar this year and 7% against the euro, which makes it the currency of the worst performing developed markets in 2013, after the yen.

It is disappointing that manufacturing production has plunged the British pound. Against all odds, the figure stood down in January. This bad start of 2013 has revived fears of recession entry into the United Kingdom, as growth contracted in the last quarter of 2010 and unless outstanding performance in the service sector beginning of this year, growth could be negative in the first quarter of 2013. The UK could then face its third recession since the Great Depression of 2008!

The prospect is worrying investors, who were anyway not expected industrial production to drop sterling "There is definitely a momentum against the pound, said Derek Halpenny at Tokyo-Mitsubishi UFJ Ltd. in London, and markets seize any excuse. Low statistics in the UK suggest a new quantitative easing, and this is a recipe to reduce the book. "

"Shock Treatment"

Indeed, unlike the United States where improved data suggests that the Federal Reserve may have less need to support the economy, the Bank of England could reinforce its action plan guaranteed pay day loans. Last week, the Bank of England is holding its goal of redemption of 375 billion pounds, but strategists await the next BoE meeting in early April, knowing that some of its members are in favor of a more flexible quantitative, with 25 billion pounds new employees to support the British economy. In fact, many economists believe that the March 20, Chancellor George Osborne could announce within the next budget, new powers of the Bank of England to give him more leeway.

But the Minister of Economy should go further by employers. This week, John Longworth, Director General of the British Chambers of Commerce (IWC) has proposed a "shock treatment." According to him, "If within six months, there is still no prospect of growth, it will consider the option to borrow more money." The solution would be, he says, to reduce some welfare and invest the money in activities that doperaient growth. Areas selected should be those that "forgive markets", that is to say infrastructure.

It seems unlikely that the government reverse its fiscal policy immediately. Conservative Prime Minister David Cameron has explained that if Downing Street came back on drastic cuts in place, the country would plunge into the abyss.

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Next week, the commission Lescure, charged by the Rue de Valois to reinvent the cultural exception, begin a second transfer of hearings with representatives of cultural industries to "test a number of hypotheses." The goal is to refine the proposals for the adaptation of digital culture that will validate the Elysee by the end of April, as révèleLibération. Exercise at high risk given the financial and political stakes. At the heart of the matter, is the future of Hadopi, responsible for the fight against Internet piracy. If it is assumed that the institution will not survive, some of its powers remain. It is a device to alleviate considered too heavy and repressive. Educational mission that has proven its effectiveness should continue.

However, the punitive aspect should be lowered. No question of suspending subscriptions Internet as the ultimate sanction provided by Hadopi. In alternative, the Commission Lescure propose to establish penalties for unscrupulous users. These fines would be used with great caution by the judge, given the legal issues raised by this type of sanction (verifying the identity of the offender, challenged the offense) and cost (covering device).

Involve Google

Finally, some members of the committee, encouraged by the government, would like to get more involved major players in the Net, including search engines, like Google, in the fight against piracy. Wary, some observers point out that it is difficult to impose anything on them: "It is a magisterial influence," says one.  

However, in its Thursday edition, the British newspaper leTelegrapha relayed Google will cut referencing illegal sites and those who do not respect the right of companies because, for example, registration in tax havens.

The commission also Lescure board on the issue "legal tender". This has two aspects. On the one hand, the easing of media chronology in case "very limited." The goal is to accelerate the provision of cinematographic and audiovisual works for users. The movie may be available on legal sites simultaneously with their release. For the American series, it would at the same time as they are broadcast on television screens. On the other hand, the government will also require the commission Lescure that are found technical solutions to bring new players in the circle of funding creation. But providers already consider paying for content without gaining anything in return.

Remains the thorny issue of private copying (electronic charge on donated content creators). The government wants to reform the system. And why not replace it with a tax on connected devices. But in this case, the money will go into the coffers of the state and the creation is not safe to see color.

Argentina deserves it sit at the table of the G20? Clearly not meet the Association of American taxpayers (NTU), a powerful lobby near the Republicans, who feels that Cristina Kirchner should give way to Switzerland or Norway. "Argentina …

 

Biologists are angry. "On Monday, we take the afternoon strikes throughout, added to the gel transmissions leaf disease Banks to primary health insurance," says François Blanchecotte, President of the Union of Biologists (SDB). In Marseille, Patrick Lepreux, Bioprat union, began a hunger strike in protest against the reform. Biologists believe that the government, calling for a new lower rates of 80 million euros in 2013 goes too far. In 2012 already, the turnover of the industry fell 1.5% to $ 3.5 billion while the economy grew by 2.8% in volume.

New regulatory requirements

"For six years, the profession has dropped 700 million," says François Blanchecotte, exasperated that the government does not regain the agreement seemed to be reached with health insurance and provided a rate increase at least equal to the inflation from 2013 to 2015. "The adjustment variable, it is the employees," he warned, referring 8,000 jobs at risk over nearly 45,000 in the sector.

In addition there are new regulatory requirements. Biologists are concerned about the most demanding quality standards imposed on their tests (blood tests, urine …), from 2016, in the form of accreditation. "Reform creates factories analyzes," decried by some biologists. In any case it involves heavy investment and accelerates the concentration of laboratories.

Certification, which will improve the performance of laboratory tests, "will induce a surcharge of 3% of sales in the beginning, then 1.5% thereafter," said Philippe Charrier, Group Managing Director of Biology Labco. It will force small laboratories that perform are less than 100 patients per day and recorded a turnover of less than one million euros per year to regroup or sell.

Costs and higher unit cost in France

Accreditation and price reductions imposed on the analyzes involved measures implemented by successive governments to reduce healthcare costs. In the field of medical biology, flexibility is not negligible, if one compares the costs of the Hexagon in neighboring countries. According to a study released Tuesday Eurostaf will be at the conference of the magazine "Info Biologist" expenditures per capita medical tests in France are twice as high in Spain and 35% higher than in Germany.

The unit cost of actions is also higher in France, one of the few Western countries where laboratory tests are done in the city rather than in hospital. Examinations will cost 2-10 times more expensive than in Germany or Belgium. "The trouble is that in Germany, the results are issued after a very long time, often four days," puts an industry expert.

Reform legislation of medical biology is under consideration in the Senate. Unions fear it Stavros Dimas future conditions for the exercise of the profession. Yet this law favors laboratories pushing the deadline for accreditation 2020. And, at the request of biologists, it slows the takeover of financial investors now required for a laboratory to be majority owned by a biologist.

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The Belgian press had already revealed last September that Bernard Arnault was created in late 2008 a foundation in Belgium, called Protectinvest in order to prepare his succession. We now know more about the installation developed by Emperor luxury.

December 7, 2011, the billionaire has transferred 31% of the share capital of Groupe Arnault – the holding company that owns interests of the family, including the one that assures control of LVMH – the Belgian Pilinvest said Thursday liberation. The usufruct of 48.5% owned by Groupe Arnault her five children in bare ownership was also housed in Pilinvest. It is indeed, said the entourage of the CEO of LVMH, to "ensure the continuity and integrity of the group in case of accidental death," and in particular to avoid that one or the other heirs unilaterally decides to sell its shares.

No tool comparable legal in France

In this case, the shares tendered to Pilinvest be transferred to the foundation Protectinvest, which would retain until 2023, by which time the last of five children of Bernard Arnault, born to two weddings will take 25 years. It is only at this point that all the descendants of Bernard Arnault may freely dispose of their shares. The "regency" says Liberation is meanwhile assured by a "committee of wise men" of three persons, chaired by former Minister of Economy and current CEO of Atos Origin, Thierry Breton.  

Belgian foundations can also make donations to his children, taxed at only 3%. But to benefit, should that Bernard Arnault and his heirs are Belgian tax residents. Or, "I am and remain fiscally domiciled in France," he declared in September. His entourage ensures that this device has no reason tax that the estate will be settled in France and there pay his inheritance. The only reason for this arrangement is that there is no tool in France comparable legal foundations Belgian says spokesman Bernard Arnault.

This information, however, may revive the controversy around the first fortune in France, including the request of the Franco-Belgian dual nationality is also still under investigation.

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Going through a difficult release. This will force him to continue his transfer to forced march. According to our information, the newspaper directed by Nicolas Demorand should finish the year slightly in the red, despite a positive operating income of one million euros against 2.5 million in 2010 and 2011.

One of its major shareholders, Bruno Ledoux, also owns the building that houses the newspaper near the Place de la Republique in Paris, will pay € 1.5 million well before December 31, which will allow as to continue deleveraging.

In January, capital structure Liberation will evolve. The main shareholder should hold Édouard de Rothschild equally with Bruno Ledoux 52% of the holding company Refoundation, alongside the heirs of the Italian Carlo Caracciolo.

Decline in paid circulation

Since last summer, Liberation suffers from a drop of 20% of its newsstand sales, which account for 30-40% of its paid circulation after the heyday of the presidential campaign – in May, the title peaked 65,000 of newsstand sales. In October, they dropped to 41,500 for a paid circulation in France of 115,200 copies, according to OJD. But accumulated since January, sales are expected to complete the balance. The erosion of the diffusion requires us to find new sources of revenue. Thursday, Nicolas and Philippe Nicolas Demorand, Co-Chairs of the Board, explained their strategy to 230 employees worried us fast cash.

The cap is placed on the organization of events and conferences. The newspaper, which generates 60 million turnover in 23 program in 2013, against four in 2011 and six in 2012. "Our goal is to triple our turnover in this business," says Philippe Nicolas.

Accelerate the migration to digital

The goal is to accelerate the migration of readers to digital. The website, which totaled 3.1 million unique visitors in October, according Médiamétrie, will open in June a new formula that will begin the transition from "freemium" (free and paid content which coexist) the "paywall" (subscription becomes required from a certain amount of items consulted free access). At the same time, release to launch an electronic edition that will include enhanced ten more pages compared to the paper version.

Developing subscriptions, Nicolas hope Demorand install a more stable business model. Objective: To reach at least 46,000 subscribers in 2013, against 40,000 (including 11,000 digital) today.

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