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1970-01-01 00:00:00
«Shareholders, fight back!», prescribed Aline Bassin in the editorial of the Temps from April 22. The author describes mostly docile shareholders with little regard for the governance of the companies of which they are co-owners, such as Credit Suisse or Nestlé. Let’s bounce back.
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#Citizens #reclaim #finance #weather
2023-05-02 05:25:14
Geberit saw its sales decline in the first three months of 2023, due in particular to negative currency effects. Despite the drop in volumes, however, profitability was able to improve.
The washroom equipment manufacturer reported on Tuesday a turnover of 893 million francs, down 8.9% compared to the first quarter of 2022. In local currencies (ML), the contraction has limited to 4.3%, specifies the multinational of Rapperswil-Jona in a press release.
Affected by the decrease in volumes, the gross operating surplus (Ebitda) shows a contraction of 2.5% to 296 million, but the related margin is coated by 2.2 points to 33.1% .
The copy made by the Saint-Gallois group is at the bottom of the range of analysts contacted by AWP in terms of turnover, while the results exceeded the average of projections.
For the remainder of the financial year, Geberit’s management reaffirmed the outlook outlined when presenting its annual figures in March. It still expects a difficult market environment for the construction sector, but says it is confident that it can achieve its strategic objectives of 4-6% annual net sales growth in ML with an Ebitda margin. 28-30% on average.
/ATS
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#Geberit #takes #care #profitability #1st #quarter
2023-05-02 05:15:57
Indeed, last Friday, April 28, 2023, the rating agency Fitch announced the lowering of France’s rating. And France Info to continue, “now, the French debt is rated AA−, a bad economic and political news. Indeed, this sounds like a warning from the financial markets to the executive. The press release published on Friday is clear: in addition to the “(sometimes violent) social movements” mentioned by Fitch, the agency points to a “political impasse” which will weigh on France’s ability to reduce its deficit and its debt. Fitch points out that the government has failed to get these reforms accepted and that the current context undermines our credibility to carry out future reforms. This mention of “political impasse” is almost more serious than the note itself. This highlights the reality: Macronie no longer has much leeway, even the markets know it. ” The fear of a ” Greek scenario ” ” We must not take lightly the 3,000 billion in debt that we have to finance. While there may be differing opinions regarding the financial system, no one should take these numbers or this warning lightly. What consequences for France? Don’t panic for now. Investors continue to seek French debt. It’s been ten years since France lost its prestigious triple A, but finance and politics are sometimes a matter of dynamics. If tomorrow, our creditors doubt, they will ask for more guarantees. The fear of being let down by the markets is real. Prime Minister Elisabeth Borne recently admitted to us: “A Greek-style scenario is possible. If we say we don’t care regarding reforms, it can happen to us. “The Covid and whatever it costs that was necessary, unlike the generalized confinement which might clearly have been avoided, and therefore the much lower cost for public finances, have considerably increased France’s debt and we have gone from 2,400 billion to 3,000 billion in debt, with a government and a minister of the economy more busy writing his sexual fantasies in books than making credible economic forecasts. According to Bruno Lumière de Bercy, we were going to repay the Covid debt thanks to growth… and the groundhog puts the chocolate in the aluminum foil. Impossible and everyone knew it. It is therefore the Fitch agency, which draws first, but the others will follow, and our sovereign rating will be increasingly downgraded, reflecting the state of our public accounts. When a country’s rating goes down, its borrowing costs go up dramatically (rates go up) and no one wants their old debts that don’t pay out anymore, and we have billions of debts issued cheaply (bond crash) . In the middle are the savers and in particular the holders of life insurance! Degraded France is a threat to life insurance! With 2,400 billion euros saved by households in life insurance, the deterioration of France is not at all good news for funds in euros and for the preferred investment of the French. Yields have been falling for a few years already, but here it is the very stability of French debt that will be a subject of concern. I therefore devoted the Flash Strategies for the month of May precisely to concerns regarding life insurance in a file entitled “Concerns regarding life insurance, what asset strategy”. This file is online in your readers spaces for download. For those who want to subscribe to learn more and make the right decisions, all the information is here. We are entering a very delicate and quite unpredictable phase of the economy. I explain everything to you in this flash, between the banking crisis which has only just begun and the return of sovereign risk and the debt crisis, we are not at the end of our troubles. The crisis has not yet occurred. She comes. It is already too late, but all is not lost. Prepare yourselves !
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#Fitch #downgrades #French #rating #IMF #supervision
2023-05-01 12:38:37
“There are no progressive parties without strong unions and there are no strong unions without the freedom to strike. Today, the situation is very serious“, as the attacks on the right to strike have multiplied, particularly in the context of the dispute at Delhaize, “ua company that restructures to maximize its profits and knowingly circumvents the Renault law“, asserted Thierry Bodson, the president of the FGTB, during his speech on May 1 in the buildings of the CGSP in Namur.
“There is also no democracy without counter-power. We are the counter-power. You must legislate to defend the right to strike, even if it is difficult one year before the elections, because the strike is not always nice“, he continued to address the representatives of the PS present in the room, including the Federal Minister of Employment, Pierre-Yves Dermagne and the President of the Chamber, Eliane Tillieux.
“The May 22 demonstration in Brussels – announced at the end of last week by the union common front – aims to denounce social dumping at Delhaize but also to remind us that we live in a country where freedom of association is greatly threatened.“, added Thierry Bodson.
In his line of sight, among other things, the attitude of justice “which sends us unilateral requests to break up the picket lines, which speaks of a “disproportionate attack” on labor rights and which ultimately believes that employers’ rights are superior to social rights, with striking workers now qualified of activists“. “Without resistance, it will never stop!“, he asserted.
Another pet peeve of the union: the MR “dhave the objective is to stifle the unions and the mutuals“. “It is a conservative party, enemy of the middle class, strong with the weak and weak with the strong. He wants to hit the unions at all costs when no one has a salary or a pension of 9600 euros per month. Populism within these liberal parties – which are hitting the unemployed when there have never been so few in Belgium – is a great danger for democracy.“, further estimated the president of the FGTB.
The latter also once more pleaded for a modification of the 1996 law which sets the wage standard and therefore limits increases during collective negotiations. “I tell you in all friendship: you – socialists, editor’s note – can no longer agree to enter a government that refuses to review this law of monstrous hypocrisy. For us, it would be a casus belli from the first hour“, at-il have you.”Struggles are going on everywhere. We have to be more offensive and radical. We must have uninhibited demands and we must win the battle for salaries, allowances – the two are not opposed – and taxation, an essential tool for democracy. Because without taxation, no strong public services while it is the State which is always called to the rescue. So let’s finance the state“, concluded Thierry Bodson
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#meetings #FGTB #calls #legislation #strike
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