Union leaders at Opel-Vauxhall European subsidiary of General Motors and PSA Peugeot-Citroen will hold talks in April to forge an alliance against the two groups and defend employment, said Friday the European Metalworkers Federation (EMF).

Wolfgang Schäfer-Klug, Opel, and Jean-Francois Kondratiuk, PSA, are due April 18 in Brussels with other union representatives to a preparatory meeting before another meeting the end of April which will be attended by delegates from all European sites.

The meeting will be chaired by Ulrich Eckelmann, general secretary of the GEF. Its objective is the creation of a permanent entity that can speak on equal terms with the directions of the two groups.

"The current strategy of the two automakers is to play their respective sites against each other. By creating this alliance, they can increase their scope and include all production sites in this competition, "said Wolf Jäcklein, a member of the GEF ….

….. "We need to step beyond our individual companies and defend us all against this tactic is the key." .. Leaders

…… Opel will present next Wednesday on the supervisory board of the European subsidiary of General Motors a project involving the closure of two plants in Europe to reduce by about 30% production capacity, officials said several sources informed of the discussions within the company. 

PSA Peugeot Citroën, the new French ally GM meets Friday a European group committee three weeks after the announcement of the merger between the two groups, while unions' s question the social and industrial benefits of the project.

Kingfisher said Thursday that new stores and efforts to improve margins would enable it to withstand the difficult economic environment, having performed in 2011 an annual profit up 20% and above the consensus.

The first European chain of DIY stores, owns the Castorama and Brico Dépôt stores in France, has detailed its growth program "Creating the Leader" and said it would open 67 stores during the current year and would test new formats at the client.

The margin improvement will include a centralized purchasing with direct orders from countries with low labor costs like China. 

The annual profit before tax and exceptional items stood at 807 million pounds (968 million) for the year ended January 28, while analysts expected 799 million.

Revenues increased 3.6% to 10.8 billion pounds, while the annual dividend was increased 25% to 8.84 pence per share.

Kingfisher aims to earnings per share of 31.2 pence for the year 2013-2014 against 20.5 pence to 25.1 pence in 2010-2011 and 2011-2012.

Action, up 23% over the last three months, ended at 300 pence Wednesday, valuing the company at 7.2 billion pounds.

The third largest economy in Asia posted a deficit close to 6% of GDP. The government wants to reduce it to a point by 2013, without giving up the farm subsidies. India rice, drying rice in western India, Ahmedabad.

Forgotten, the speech which placed India followed by China on an economic plan. The Asian giant is also caught by the downturn. Like Western countries, its growth is weakening and widening its deficit forcing the country to move towards more fiscal discipline.

The Indian government, weakened by an electoral setback in local elections and accused of inaction, posted Friday its intention to reduce the public deficit, betting on a recovery in growth to fund new social and agricultural subsidies.  

During the presentation to Parliament the 2012-2013 budget, the finance minister, Pranab Mukherjee, said targeting an annual budget deficit equal to 5.1% of Gross Domestic Product (GDP), against 5.9% in 2011-2012 . "I am firmly set a goal to return to the path of fiscal consolidation," said the great financier of the third largest economy in Asia in a speech-river in which he also called upon to lend a accelerator for the reform program.

The government has said it expects annual growth of 7.6% next year, forecasts are more optimistic than the 6.9% expected this year, a disappointing figure for the administration of Prime Minister Manmohan Singh. The Finance Minister hopes that the return to strong growth after the slowdown this year due to a drastic monetary policy to fight against inflation, will help fund new grants.

He, among others, announced farm subsidies, food aid for the underprivileged, health programs to reduce malnutrition and infrastructure projects for drinking water. However, he promised that the grants would not exceed 2% of GDP. A mid-term, before the general elections scheduled for 2014, the center-left government is weakened in the political and economic. He had to backtrack on a key reform to liberalize retail trade.

Mukherjee, however, assured that efforts were underway to reach a consensus policy on allowing foreign multinationals to open supermarkets in India. The Congress party, at the head of the governing coalition, has also won a majority in only one of five states which were conducted in recent local elections. These elections were seen as a popularity test for the government, and Rahul Gandhi, last link in the Nehru-Gandhi dynasty.

Arkema has revised upwards its long-term EBITDA for 2011 Thursday by announcing an increase of this result and its turnover, thanks to strong contributions from Asia.

In 2011, the French leader of chemistry has produced an EBITDA of 1.034 million, up 28%, giving a margin of 17.5%. Its net profit after minority interests rose 33% to 574 million and its turnover by 21.2% to 5.900 billion.

Arkema offers a dividend of 1.30 euros per share, after a Euro 2010.

Given its performance in 2011, Arkema now aims to achieve in five years an EBITDA of 1,250 million euros, while maintaining its debt ratio to about 40%.

The performance of the first quarter of 2012 should be "real improvement over the fourth quarter of 2011 but below the level of the first quarter of 2011, which was a very high base of comparison e. This recovery should continue in the second quarter of the year, "we read in a statement.

The six major Greek banks have decided to participate in the exchange of bonds to alleviate the country's debt, said Tuesday the Ministry of Finance.

Banking sources had previously indicated that all Greek banks concerned should participate in the agreement, which will lead to institutions interested in losses on their holdings ranging up to 74%.

The exchange of securities, if implemented, should lead to cancel some 100 billion euros of debt. Private creditors, mainly banks, insurers and investment companies, have until Thursday to announce their intentions.

Most pension funds holding Greek debt to Greek State agree to participate in the bond exchange, but four refused to do so, it was also learned Tuesday Aupre s head of a Greek.

Unions fear the consequences of the depreciation of assets in debt to Greek pension funds.

Eight or nine pension funds agreed to participate but funds for journalists, police, business owners and employees of the hotel, which hold for about two billion euros debt, refused, sources said.

The Chinese government expects economic growth of 7.5% and 4% inflation in 2012, announced Monday Premier Wen Jiabao at the opening of the annual session of the Congress of the People .

The budget deficit is expected him to rise to 800 billion yuan, or 1.5% of gross domestic product.

Growth forecasts are in line with analyst expectations, but Beijing had earlier set a target of 8% annual GDP growth. 

"Our ambition is to promote a continuous and sustained economic development, to preserve price stability and protecting us from the financial risks by keeping the money supply and credit supply at an appropriate level and adopting a cautious and flexible approach, "said Wen in his report to Congress of the People.

The Prime Minister further undertakes to limit real estate speculation and ensure the stability of the yuan. It also promises Beijing's intervention to solve the problem of indebtedness of local governments that many investors consider to be the main concern on the fiscal silent.

Iran on Sunday denied having refused to supply Greece 500,000 barrels of crude oil as part of retaliatory sanctions of the European Union related to nuclear program Tehran, reports the Iranian news agency ISNA.

"There were no changes in oil supplies from Iran to Greece or any other country. No change in our delivery schedule, "he assured Pirouz Mousavi, Director General of the Iranian Oil Terminals Company

. A little porridge ; t, another Iranian agency, Fars, had written that Tehran had refused to deliver 500,000 barrels of crude oil supposed to forward them on behalf of the company Greek Hellenic Petroleum refining

. An official of the company also denied that refusal. "This has nothing to do with us. All deliveries from Iran are normally, "he told Reuters

. Iran has stopped selling crude to companies British and French oil these days. Its oil minister warned on February 4 that the Islamic Republic would cut its oil exports to "certain" European countries.

The Prime Minister believes the government should not have back in 2007 after the failure of legislative reform because the cost of labor is essential. Prime Minister Francois Fillon regret not having done the social TYVA in 2007

Francois Fillon said Thursday evening the balance of Nicolas Sarokzy. The Prime Minister expressed as main regret of his five years at the Matignon "floating" in 2007 on the so-called social VAT, adding that he had to "do it now," referring to the will of the head of state to this measure on track by May When asked on the set of the show "The words and actions" on France 2 why the government wanted to implement the measure within three months of the presidential election, he returned to the turnaround of 2007, during the period between the two towers of the legislation.

"On the cost of labor, you remember we had planned to do in 2007. There was a reluctance on the part of the government team, from the majority that led to a misunderstanding on the part of the French, "argued the Prime Minister, recognizing that this was" probably (had) a reaction in electoral terms "in parliamentary elections at the time." You should never hesitate. When we govern, decide and implement the reforms (…). Here, there was a little flutter, flutter it made it more difficult for some time the implementation of this reform, "he said

……. Ruling out .. "inflation risks" now, François Fillon expressed the need "to do it now". Invited to express his main regret at Matignon, the prime minister has come back "on the case of lower labor costs in 2007. "" We hesitated too. It is a regret I have today, "he repeated. On the contrary the decision that is" most proud ", Mr. Fillon also drew attention to "the reform of social dialogue". "When you see what happened five years ago (…) is a small cultural revolution that has occurred," he judged.

On his favorite memory with the Head of State, with which relations have experienced up and down since 2007, the prime minister called a "great memory" the presidency of the European Union in 2008. "I was very proud of what has been accomplished and the image has given France and the president," he dit.Concernant his worst memory, Mr. Fillon declined to answer: " I have no recollection of this type and even if I had, I do not confide in you. "

Altran Thursday confirmed a large increase in operating margin for 2011 following growth of 7.2% of its turnover for the year, and said he was "reasonably confident" in 2012 despite ; economic uncertainties. Sales of specialist technology consulting totaled 1,419.5 million euros last year, growing "economy" of 8.1% (on a comparable basis excluding the impact of exchange and changes in working days). The fourth quarter alone, sales of Altran amounted to 370.6 million euros, increasing by 6% and an "economic growth" of 8, 6%. "Despite an uncertain macroeconomic environment, the Group is reasonably confident for 2012," he said in a statement its CEO, Philippe Salle. Philippe Salle had told Reuters in October Altran, a deficit in 2010 would remain negative in 2011 but would profit in 2012. The group will publish its annual results on March 12. Altran has completed action on Wednesday during a 3.801 euros, representing a market capitalization of 550 million.

His heart attack until the financial markets, the euro area plays its future in the coming weeks in an economic, budgetary and fiscal conducted forced march under the leadership of Germany.

The countdown to this year has accelerated last week when France, but also Austria, Finland and the Netherlands, saw arrive at their door pressure from investors, which they thought up until there is little protection because of their maximum rating AAA.

Faced with this new situation, the debate on increased intervention of the European Central Bank to support countries in difficulty – to which Germany is now the only one to oppose – has flared up.Angela Merkel's advisors are on the phone at all hours with European capitals, "said she.

"But if they would not get successful, unorthodox solutions are being considered," she said again.

MINI-TREATY?

Several European leaders, France and Germany in particular to reflect the possibility of a mini-intergovernmental treaty outside the community and to circumvent British requests for repatriation of skills in London and, ultimately, unanimously required a revision in formal treaties.