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Saint-Gobain said Thursday up 3.7% of its turnover in the first quarter to 10.2 billion euros, driven by sales price, and confirmed all of its 2012 objectives.

Excluding the currency effect (+1.0%) and perimeter effect (+1.8%), the growth of world number one in production, processing and distribution of building materials spring over the period to 0.9%.

The consensus reached by the editor of Reuters from estimates of seven analysts gave a turnover of 9.9 billion euros.

"In an uncertain economic environment, and despite a high comparison base, the group achieved positive organic growth in this first quarter," said St. -Gobain in a statement. 

"In particular, we continued to increase our selling prices (+2.4%), to compensate, overall on the year, rising raw material costs and the energy. "

The group maintained for the full year its goal of a moderate growth and good resistance to its operating income and profitability.

In February, the CEO, Pierre-Andre de Chalendar, had clarified that growth in 2012 would be less than 5% in 2011, then qualified performance of "sustained", without further pre ; decision. 

In the first quarter, the rebound in residential construction in the U.S. market, where the group has enjoyed double-digit organic growth, offsetting the slowdown registered in Europe because of a inclement weather in February and the crisis in the South, as well as slowing growth in Asia, to 0.6%.

"In Asia and in emerging countries, growth should remain moderate in the second quarter, before returning more strongly in the second half of the year," said Saint-Gobain.

All business units recorded a slight growth in the quarter, with the exception of innovative materials, affected by the glass, whose sales were down 5 , 6%. This decrease is attributable to a decline in solar markets and European car likely to remain challenging, and a slowdown in construction in Western Europe.

The Saint-Gobain shares closed down slightly from 0.39% to 31.87 euros, giving a market capitalization of around 17 billion euros. Since the beginning of the year, the title took about 8%, having dropped nearly 23% in 2011.

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Most European stock markets have turned downward early Wednesday afternoon, the ADP survey in the United States showing a number of new posts lower Interior expectations for the month of April.

At 14:25, the London Stock Exchange lost 0.98%, 0.66% that of Frankfurt as the place of Madrid plunged 3.25%. The pan-European Euro Stoxx 50 index, stable before the publication of the American Statistical, drops 0.93%.

The CAC 40 index, which gained almost 1% in mid-day, it is stable at 3,213.65 points (0.03%).

The private sector has created 119,000 jobs in April in the U.S., while the market expected 177,000 additional jobs, a figure that increased investor pessimism Friday before the publication of statistics improve ; Rican employment for the past month.

Zodiac Aerospace has shown more optimistic on Tuesday its forecast for the current fiscal year thanks to the dynamism of aviation activity, likely to gain market share and revenue that draws lucrative after-sales services.

The equipment manufacturer, which provides Boeing, Airbus and Embraer, said in a statement it expects now to the 2011-2012 fiscal year, which runs until August 31, on a double-digit organic growth in its turnover and an operating margin of at least 14%, despite the negative impact of non-aeronautical activities.

The group had so far committed to a growth in sales and improved profitability over the period. 

Zodiac announced in the first half (ended in late February) an operating profit (ROC) of 223.8 million euros (+20.3% excluding IFRS 3) and a result net 152.4 million (+33.3%).

Its turnover reached 1,567.3 million euros in the first half ended in late February, up 19.7%, with organic growth of 15.9%.

Its operating margin was thus established to 14.3% in first half 2011 to 2012 against 14.2% a year earlier.

A few days before the first round, the International Monetary Fund forecasts sound like a call to order. With 0.5% growth expected in 2012 and just 1% in 2013, the flexibility is low for the successful candidate. The Fund estimates that the target of 3% deficit in 2013 will be missed. View of the Ministry of Economy and Finance at Bercy.

The International Monetary Fund will indirectly invite the presidential election, five days of the first round. By publishing its forecast of global growth, it is a reminder to candidates how their room for maneuver is narrow. Because growth in France should be lower than expected by next year's presidential favorites, said Tuesday the IMF, which could complicate the task of the future head of state to meet its commitments to reduce deficit.

The Financial Institution of Washington raised its estimate for this year, from 0.2% to 0.5%, that is to say as much as expected by the Socialist candidate Francois Hollande and not far from the goal of Past President Nicolas Sarkozy, who expects 0.7%. But that's for next year that things get complicated. The IMF growth would remain soft, with only 1%. This is slightly better than average in the euro area (0.9%) but worse than Germany (1.5%), Europe's largest economy and principal partner of France.  

However, Nicolas Sarkozy and Francois Hollande have both built their program and their path back to balance public finances on a more optimistic assumption of 1.7% growth in 2013. Beginning in 2014, they hope to even a minimum of 2% per year.

However, both candidates seem aware of the fragility of their forecasts. While the Socialist has long argued for a renegotiation of the European Pact for Fiscal Stability – also praised by the IMF – to add a growth component, the UMP candidate in now called the European Central Bank to it gives a boost to activity.

Far from the goals of deficit reduction

Former Socialist Prime Minister Laurent Fabius admitted on Tuesday that "if ever there was additional shocks" should be "obviously taken into account." For a less intense recovery is likely to complicate their task to bring the public deficit of 4.4% or 4.5% of gross domestic product (GDP) expected this year to 3% next year, as both candidates s' are engaged with the European partners of France.

The Fund also think, in his "Public Finance Monitor" also released Tuesday, the government deficit in France is forecast at 4.6% of GDP in 2012 and 3.9% in 2013, far from the 3% target set by the government. International experts estimate that the country nears the symbolic threshold of 3% in 2014. These projections mean that the next president, whoever he is, will soon adopt a new fiscal tightening after the election of May 6

For its part, the public debt of France is expected to increase next year the symbolic threshold of 90% of GDP to 90.8%, while all candidates hope to contain it to below this threshold. It would commence thereafter a slow reflux. But France is among the states where the debt stabilization could be jeopardized by any "little shock", especially if interest rates they pay for borrowing were to increase, warns IMF.

If the situation has "stabilized" since early January in the euro area and the activity sends "encouraging signs", a cover of the debt crisis remains a "major risk", stresses the Fund. It calls on members of the monetary union to strike a balance between supporting economic recovery and deficit reduction, especially as a "greater fiscal consolidation will weigh on growth in some cases." Experts point out that Paris has already made efforts on pensions, pushing the retirement age, but explain that rich countries also face the challenge of controlling public expenditure on health.

What wealth conceals the nest egg of presidential candidates? All contenders at the Elysee are required to communicate their heritage to the Constitutional Council. For now, only that the candidate Nicolas Sarkozy has been officially released. Here are pictures, information available on the richness of the main contenders at the Elysee. Fifth

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Many employees who benefit from this measure have their premium reduced employment and housing tax increased. Incumbent President Nicolas Sarkozy (here in Lyon March 17, 2012)

The "work more to earn more" is again chipped, supporting figures. According to the union unified tax, the additional income from tax-free overtime is nibbled to taxpayers on low incomes who qualify for the prime pour l'emploi (PPE), mechanically reduced when they earn more.

In his "five-year fiscal balance sheet" presented Wednesday, the Union Solidarity Snui South Treasury highlights the "perverse effects" of the exemption from overtime pay, a key measure passed in 2007, and "unpleasant surprise" for recipients of PPE.  

The additional income generated is not taxed on income "but it is considered in the determination of income tax reference" for the calculation of PEP, said Vincent Drezet, national secretary of the union. In fact, when an employee works overtime, his "reference taxable income will increase" and "this translates into a premium for employment revised down," and also "a housing tax revised upwards "when it was capped, said the trade unionist.

The Budget Ministry, it is not denied but this mechanical effect, it says, "people who work overtime have always seen their incomes increase. In other words," more work "continues to earn more." From the time the person is working overtime, it is normal that the premium for employment is less important, "the ministry.  

To illustrate this, the union made its tax calculations: a single minimum wage paid to declaring taxable income of 13,000 euros and has also received 500 euros for 60 additional hours, receive a reduced PPE of 96 euros (728 euros instead of 824 euros if he had not done overtime) and the amount of its housing tax will increase by 16 euros. Finally, the 500 euro extra income "have resulted in an overall effective tax charge of 112 euros", or 22.4% of the additional on which the employee would have expected count.

PEP is a tax credit, some taxpayers with modest incomes even see their tax increase (when the premium was less than the tax). This is the case for example, according to the union, declaring for a couple of 30,000 euros and 1,500 euros of wage income from overtime: it "will pay 290 euros plus tax."  

However, the union said, "the measure is neutral for taxpayers beyond the thresholds of the EPP." PEP, as Nicolas Sarkozy intends to remove if re-elected to fund lower taxes on low wages, benefits currently to 6 million people, with an average of 450 euros.

The Tokyo Stock Exchange ended higher Friday in small, signing its fourth straight session of progression through encouraging statistics from the U.S., but gains were limited by profit taking on export values.

The Nikkei gained 0.06% (6.55 points) to 10,129.83 points and the Topix broader, took 0.36% (3.12 points) to 866.73 points.

The weekly jobless claims in the U.S. fell last week to their lowest in four years, while manufacturing activity in New York and re Philadelphia region rose more than expected.

In this context, cyclicals have drawn their own in the game The manufacturer of construction machinery Komatsu took 1.71%.

The rebound of the yen, which resumed colors Thursday after touching a low of 11 months against the dollar has pushed some investors to take their gains in export values. Nissan, Honda and Toyota have yielded between 0.1% and 0.6%.

March is the end of the fiscal year 2011-2012 in Japan and many players prefer to ensure their profits for this date.

Between 1999 and 2011, real disposable income of SMIC employees has increased by over 10% while the net minimum wage increased by only 5%, according to a study by the Treasury. This increase is due to PEP and RSA. The minimum wage (SMIC) increased from 8.86 to 9 euros gross time to reach 1,365 euros for 35 hours, or about 1,073 euros net per month.

Between 1999 and 2011, real disposable income (taking into account inflation) paid to employees the minimum wage has increased by over 10%, reflecting gains in purchasing power, while the only net minimum wage No ' increased by only 5%, according to research revealed by Treasury Les Echos on Friday. "The disposable income of a single person without children, who have worked full time and paid at the hourly minimum wage increased 12%, while that of a single person inactive decreased by 2% in real terms," ​​said the study.

This "strong growth in household disposable income at minimum wage over the last decade is mainly due to the introduction of measures to support activity that are PEP and RSA," say the authors. The employment bonus (PPE) was created by Lionel Jospin in 2001. This is a tax credit enjoyed by tax households where at least one spouse works. It is reserved for lower wages. On the RSA (RSA) came into force in 2009. It replaces the RMI and provides additional income to the working poor.  

Both devices are often criticized because they have their faults, most prominently the fact that they coexist and are therefore redundant. The candidate Nicolas Sarkozy wants to also remove the PPE, to fund relief from social security contributions on wages els between 1 and 1.2 Smics.

Read about: Winners and losers of the elimination of the earned income tax

However, the assistance provided by these devices is "between half and all proceeds of purchasing power" of SMIC employees, the study says the Treasury, according to family structure and working hours. The RSA and PEP have particularly benefited one-income couples and part-time. This has resulted, says the Treasury to reduce the share of earned income in the household disposable income at minimum wage. The net salary represents only 56% of disposable income at the minimum wage for a single half-time, against 73% in 1999, and 93% for a single full-time.

Another contribution of the study population is very heterogeneous smicards. Only 45% are employed full-rate all year. 30% have owned a standard of living above the median, with the income of their spouses. The more modest 25% have a lower standard of living to 12 000 per year, against 19,400 euros for the 25% most affluent.

The bankruptcy of four daily Normandy, Paris-Normandie, Havre Libre Press Havre, Fécamp and progress of their two weekly supplements was announced Monday at an extraordinary works council, officials said a union source.

The Tribunal de Commerce of Le Havre (Seine-Maritime), which is based the headquarters of the League of Norman Press, Publishing and Advertising (SNPEI) that has these newspapers will be asked to rule next Wednesday on February 29.

Martin-Benoît Curtoud, representing the National Union of Journalists (SNJ) in the EC SNPEI, said that the direction of the latter and that of the Hersant Media Group (DRG) which it is subsidiary "hope the appointment of agents for assistance." 

The decline in circulation and advertising is the main reason for the bankruptcy filing.

The estimated turnover of SNPEI settled for 2011 to 39.6 million euros and its net loss was $ 2.2 million.

The draw of the four daily newspapers and their supplements was just over 75,000 copies paid last year, including 52,606 in Paris-Normandie, the main newspaper of the pole. The SNPEI employs 365 employees.

The U.S. trade deficit widened slightly more than expected in December and the negative balance of trade between the U.S. and China on a new record the entire 2011-295500000000 dollars.

The monthly deficit in the overall balance of trade stood at $ 48.8 billion, showed the statistics released Friday by the Commerce Department, as imports reached their highest level since July 2008.

Analysts polled by Reuters on average expected a figure of 48.0 billion. The November deficit was revised to $ 47.1 billion against 47.75 billion originally announced.

U.S. exports rose slightly in December (0.7%), but nearly two times less than imports (+1.3%).

Over the full year 2011, the trade deficit increased by 11.6% to 558.0 billion, a level not seen since 2008.

Exports grew by 14.5%, exceeding for the first time the threshold of 2,100 billion, while imports recorded an increase of 13.8%, to nearly 2700 billion.