Telecom, accelerates the hostile takeover of the French Niel – The Messenger

And ‘hostile takeover. Now there are more doubts: French billionaire Xavier Niel is conducting of Telecom Italy that, in the Anglo-Saxon finance, defining hostile takeover. Last Thursday, the owner of the Internet group Iliad, of Monaco Telecom and Orange Switzerland had officially to have long positions (derivatives and options exercisable over the next two years) sull’11,2%: the share yesterday to tend headed to Rock Investment, the family office businessman born in the south of Paris, has risen to 15.14%.
And banking sources report that € ™ s goal € ™ s business owner, major shareholder of the newspaper “Le Monde”, together with Pierre Berga and banker Matthieu Pigasse, is to reach the same share of Vivendi, chaired by Vincent Bollorè, which recently announced that it possessed 20.2% purchased gradually. Stock Exchange € ™ s rounding by Niel has again caused unâ € ™ soaring securities up to a maximum of 4%, before closing up 0.55% to 1,269 Euros. And the current capitalization of 23.3 billion, the value of the virtual share Niel is 3.5 billion. The package is made up of a 10.03% derived from six different options contracts call (purchase) with different settlement dates, from a package of 4.8% with settlement on June 21, 2016. In addition to these calls, Niel It holds other long positions equal to 5.1%, always with voting rights. Thanks to the partnership business with Pigasse, big boss of Lazard France, would Niel € ™ s support of the bank dâ € ™ business in the role of advisor and Credit Suisse and Morgan Stanley would support him in purchasing.

QUESTIONS TO CLARIFY
>
 € ™ s foray financier network and telecoms triggered promptly € ™ s alert Consob that already two days ago has started inspections of the € ™ existence of hidden pacts between him and Vivendi which together hold nearly 36% dellâ € ™ incumbent. Although it is now clear that the two groups there would be liaison, the Commission convened for the first days of next week billionaire Parisian which will address a number of questions needed to shed light on the blitz.
 In addition to relations with Vivendi, offices € ™ s Authority would like to know the typology of these instruments, that is to say if they are converted into shares only at maturity or immediately. Unâ € ™ other demands may include the drawing that inspired the take over: If CA € ™ is a business plan to support the climbing or whether it is merely a financial investment on the growth potentials of Telecom, all the more that Bollorè It ¨ known to create value to the company where it invests. Also yesterday took to the field is also € ™ s Antitrust asking for clarifications to Telecom Italy and Niel. € ™ s Authority wants to know the members Telecom over 2% and the existence of shareholder agreements while the Raiders are asked French acts of the council on the purchase of derivatives.
 However it is obvious the opposition Niel with the role that Bollorè gradually took in Telecom, which came in at last May with € ™ s 8.3% from Telefonica as the price of the sale of Gvt, grew up (9 September) to 15.5% and then to 19.9% ​​(October 6), up to 20.2% (October 23). All with the consent of the banks, the management and the government itself: in August, in fact, Bollorè met at Palazzo Chigi Matteo Renzi who confirmed that his investment is stable and long-term.
 In the hunt for the reasons that led to the raid Niel Câ € ™ is those who say that is not alien unâ € ™ € ™ s action to Marco Patuano aimed at maintaining the status quo in anticipation of possible changes introduced with € ™ s arrival of Bollorè men on the board: unâ € ™ hypothesis, craftman € ™ final, to be verified and that is not confirmed.

Privatizations, with Poste reached goal 2015. Then it’s up to Fs and Anav – The Messenger

Objective privatization reached for 2015, albeit with the help of items in the strict sense are not the sale of the company. With 3.1 billion proceeds from the placement of the Italian Post Office (which might become 3.4 if institutional investors exercised in full the option Greeshoe) the Ministry of Economy can certify the achievement of the year of 6.5 billion equal to 0.4 percent of GDP: that the goal stated in the document of economics and finance.

The other big task is the one made in February, with the sale to domestic and international banks of 5.74 percent of Enel, with an income of 2.2 billion. Round up the repayment of bonds by mountains of Monte dei Paschi di Siena, to a value of 1.1 billion and a special dividend of 200 million (in excess of capital) paid to the Treasury by ENAV, which effectively reduces operation the value of the investment in Via XX Settembre.

As required by law, all of these revenues will go directly to reduce public debt. Just with ENAV and the State Railway – confirmed by Economy Minister Padoan – will continue next year the path of privatization, it will have to ensure that just over eight billion, or 0.5 percent of GDP.

 30 October 2015 15:45 – Last Updated: 17:45

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Pensions reform, latest news and surveys: 1 of 2 yes to early retirement with penalties – Blasting News

“The problem of the flexible social security is bound in glove with that dell` youth employment “. This was underlined today the Secretary General of Confesercenti, Mauro Bussoni, illustrating the data from a survey on the reform pensions made by SWG which interviewed a sample of potential beneficiaries of the measures of flexibility in output for early retirement under discussion for some time even if the Renzi Cabinet now seems determined to face this delicate point of the issue pension next year and not with amendments to the Law of Stability in Parliament. Certainly not to the Senate, I understand in the last hour, but maybe some news could come in the next step in the Chamber of Deputies.

Accommodation, Confesercenti: 50% cut for flexibility beneficiaries ok

A report that the rigidity of the law Fornero and difficulties of young people find work “for Italians is clear,” he added Mauro Bussoni urging intervened to Government Renzi. As it is apparent from the poll Confesercenti / SWG , are almost 2 million potential workers beneficiaries of new forms of early retirement, nearly one in two of these workers (ie 49% to 960mila people) would be willing to accept the penalty on the check social security in order to gain access to the early retirement at age 62. It leaves you with more pleasure the job if young people are hired. Reduction of pension checks for the output penalty early, but not too much and not for everyone. According to the findings from the survey decreases the number of available workers to leave before the job cuts in proportion to the increase in welfare benefits.

Stability Law, news about pensions in the passage in the House

Only 2% of respondents said he was willing to accept any form of early retirement in order to stop working. 30% only if the penalty on early retirement does not exceed 5%. While 12% are willing to begging also cuts up to 10%. Only 5% would accept cuts of up to 15%. 29% of workers who do not want when access to early retirement. Many of the undecided: 20% of all respondents. These are some data on pensions and pensioners that offer a contribution to the ongoing debate on pension reform with particular reference to new elements of flexibility in output from work. Confesercenti has also developed a proposal for the “ generational relay that provides for older workers close to retirement who choose part-time work – said the general secretary of Confesercenti – not to see or reduce the salary nor the contributions, in exchange – said Mauro Bussoni – dell` taking the same company of a young worker “. A proposal will be useful to alleviate the plight of the youth unemployment in Italy and give back “social justice” to the “victims” of the law Fornero .

November nightmare: in 15 days Italians will pay the Treasury 53.5 billion – TGCOM

10:08 – Between 16 and 30 November Italians will pay the Treasury 53.5 billion of euro . Calculates the CGIA Mestre remembering all maturities coming weeks as VAT, personal income tax payments, IRAP, IRES, additional income tax and withholding tax. The Cgia then recalls how, in Italy, the tax revenues (taxes, fees and taxes) exceeds 480 billion a year .

The most expensive sets to be honored in November will be the ‘ Iva : autonomous and businesses will pay to the State of € 12.3 billion. Corporations also pay the ‘ advance IRES that will amount to 11.8 billion, while the employees, through their employers, will give the Treasury the held in the amount of 10.4 billion euro. Even the ‘ advance Irap will be highly respected and well-cost companies 8.4 billion euro, while the’ advance income tax will force the self-employed a payment of 8 billion euro.

The weight of indirect costs related to the payment of taxes, according to the Cgia, “has now taken on worrying proportions”: “Because of a tax system is still too fragmented – noted Paul Zabeo, coordinator of ‘ Studies Office of Cgia – in our country are required at least 34 days to pay taxes . In other words, between the queues at the counters, the time lost to travel by the accountant or to fill out forms, registers and various paperwork, Italian businesses employ 269 hours per year to meet its commitments with the IRS. A Way of the Cross which, unfortunately, we share with the Portuguese, while in all other countries of the Eurozone, the situation is less heavy than ours. ”

Numbers in hand, whether in Italy and Portugal are required 34 days of time to pay taxes, the euro area average is 20 days. This threshold drops to 17 in France and even 15 days in the Netherlands .

“In the system of small and medium-sized enterprises – concludes Zabeo – which constitutes 99.9% of all companies present in Italy, bureaucracy costs, in absolute terms, almost 31 billion euro year . For the organizational structure of the companies, such costs penalize more the small companies than larger ones. Let me be clear, the bureaucracy can not be eliminated, useful and necessary, but it is necessary to make our Public administration leaner, more efficient and less expensive. “

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Falling unemployment among young people – Il Sole 24 Ore

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This article was published on Oct. 31, 2015 at 08:11.

ROME

Unemployment down again for the third consecutive month in September and goes to 11.8% with another 0.1 11.9 percent less than in August: This is the lowest level since January 2013. In the twelve months, notes the Istat, the amount of unemployed decreased by 8.1% (it They decreased by 264,000 units people looking for work) and the unemployment rate fell by one point.

By the way, in September is down (by 0.2% on the previous month) also the rate of youth unemployment (people aged between 15 and 24 years) remains stood at 40.5 percent. These are all aspects of a positive trend, immediately put out by the Prime Minister Matteo Renzi, “The Jobs Act has restored credibility internationally, but also has created opportunities and jobs,” he said. Apart from the fact that the level of unemployment in Italy is unfortunately very high, as pointed out, also yesterday, the President of the Republic, Sergio Mattarella (see article on page 8) should be said that the data provided by Istat on in September, appear a bit ‘mixed results.

The decrease in the rate of unemployment does not seem to due to higher employment. The Institute of Statistics says that after the growth recorded in the last three months (an increase of 166,000 employed between June and August) at the end of the summer the employed were 36,000 less (-0.2% ). Between employees, occurred last month a 0.1% drop pearl component indefinitely (-21 thousand) and 0.2% for the term (-4 thousand).

The monthly reduction in the unemployment rate seems therefore determined mainly by the increase in inactive. In fact, states still Istat, the estimation of inactive people aged between 15 and 64 years increased last month by 0.4 percent (it is 53,000 people in more inactive). Even in the case of youth unemployment declining in September seems explained by the increase in inactive youth, grew by 0.5% in the monthly comparison (+22 thousand units).

On the whole, however, “these data confirm that the labor market is improving, albeit slowly – notes Paul Mameli- senior economist of Intesa Sanpaolo. This is consistent with the signals come from surveys of consumers and businesses: in particular, the expectations of families on unemployment have fallen to a minimum in October in more than twenty years of recording of the series. ” But “in the perspective -adds esperto- still think that the drop in unemployment will be slow and uneven, also because it is conditioned from the large volatility of the inactivity rate, not unusual in the vicinity of the turning points of the labor market” .According Labour Minister, Giuliano Poletti, braking employment should be considered a swing physiological, because at this point the recovery “is now started and the reforms undertaken by the Government to consolidate and strengthen it.”

the unions have come instead cool comments. Thus, according to the confederal secretary of Cisl, Gianni Petteni there is a “visible, albeit slow turnaround from the 2008 crisis in 2013-14 that saw the highest point and dramatically intense of these eight years. Now- assertion must not only hold high the guard but the government must intervene in a decisive manner, confirming employment incentives, rewarding the additional employment and supporting the weak areas of the country. ” For the Uil confederal secretary, Guglielmo Loy instead ‘increasing inactivity and the cyclical decline in employment, which weighed more the decrease in permanent contracts, are disturbing elements, which can not be underestimated. ” According to the secretary general of the CGIL Susanna Camusso, finally, “it is very hard to say good passes from 41% to 40.5% of youth unemployment. We continue to be 20 points above the European average, just to give a coordinate. We lontanissmi from pre-crisis levels. “

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IRS, the under-declaration of VAT: sent 65,000 notices to taxpayers – The Messenger

With the last shipment we are already half a million. Are the taxpayers to whom these days are coming to the letters of the Revenue to warn them that there is something wrong in their statement of income in 2014. In fact this half a million taxpayers the largest patrol consists of people who for cunning or simple forgetfulness have not submitted to the tax authorities any tax declaration process.

This is the case of much of the communication just matches to 65,000 taxpayers who would have to submit the VAT return for 2014 but that is not the ‘they did it, or who presented with errors. The alert just sent by the Tax Authorities – by mail, if it is provided with Pec mail, or by registered mail – is the last chance to come into compliance without incurring heavy fines and lengthy litigation with the tax authorities. Simply activate the procedure provided by the “active repentance” (presenting the declaration forgotten or corrective by 29 December this year and paying a mini-penalty in addition to taxes due) and everything will be fine. If the taxpayer is considered to be already in good standing will be able to communicate it to the Revenue by phoning 848 800 444.

COMMUNICATIONS
 The letters sent – said the agency led by Rossella Orlandi – serve to warn  “in anticipo ‘taxpayers, or the lack of errors in the declaration, to allow for ” check and correct their posizione “, making sure  ‘sanctions provided for in reduced operoso repentance. ” More then 190 thousand letters were sent to anomalies compared to industry studies and other 20 thousand communications are addressed citizens who have not declared any capital gains, professionals who have not reported all fees certified by substitutes d â € ™ tax and VAT subjects with lower sales reported to the invoices sent to the IRS by customers.

Only last week were sent 220 thousand preventive alert to taxpayers who, despite having more income from work or retirement as well as allâ € ™ Agency is based on data collected for the  «precompilata” not submitted declarations or have said only one. Also in this case, the purpose of communications is to allow voluntary repentance.

 30 October 2015 09:48 – Last Updated: 15:46

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BECOME A FAN OF THE MESSENGER

In September, unemployment still down 11.8%, but among young people falling stops – Il Sole 24 Ore

New to decrease the rate of unemployment in September amounted to 11.8%, the lowest level since January 2013. The notes Istat, explaining that the decrease of 0.1 percentage points from a month previous follows that of July (-0.5 points) and August (-0.1). In the 12 months there are 264 thousand fewer people looking for work (-8.1%).

Youth Unemployment 0.2% The youth unemployment rate in September to 40.5%, down 0.2 percentage points from August. In a month there were 14 thousand young people between 15 and 24 years younger than looking for employment. But after three months, there was an initial drop in employment young (-11mila) due to the increase of the inactive. with articles of Irene and Laura Giuntella Cavestri – Il Sole 24 Ore – read on http://24o.it/KwQIeQ

But the busy fall: It’s actually the -36mila ‘entire employment growth to record a halt. After the increase in the last three months (+ 0.7%, or +166 thousand employees between June and August), in September 2015 the estimate of the employed decreased by 0.2% (-36mila). Articles of Irene and Laura Giuntella Cavestri Il Sole 24 Ore.com

After the growth observed since the beginning of the month of August (+ 1.7%, or +284 thousand employees), September 2015 estimate of employees decreased by 0.2% (-26 thousand). Independents showed a decrease of -0.2% (-10 thousand). They are the new Istat September. The Info (top) we focused on self-employment and dependent. So employment by professional status and character of the occupation

In the period from July to September 2015, employees increased by 0.7% (+116 million) compared to the previous quarter, while the decline of the independent 0.3% (-19 thousand). In trend terms employees grew by 1.3% (+220 million), fully explaining the employment growth in twelve months, while independents fell by 0.5% (-28 thousand). Among the employees it was recorded last month fell by 0.1% for the component indefinitely (-21 thousand) and 0.2% for the term (-4 thousand). In the period from July to September 2015 occupied permanent increase of 0.2% compared to the previous quarter (+28 thousand), while the term grew by 3.7% (+88 thousand). Compared to the same month last year employed permanent grow by 0.8% (+113 thousand) and forward by 4.6% (+107 thousand)

Note: The data are provisional non-seasonally adjusted (thousands of units)

Work, Istat: “In September, less busy and less unemployed more inactive” – ​​The Daily

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Freeze autumn on labor market . A September , in fact, dropped both Employment unemployment has increased dramatically while the share of so-called inactive . Certifies l ‘ Istat estimated last month which Italy lost 36 thousand occupied (-0.2%) and 35 thousand unemployed (-1.1%), while it has “earned” 53 thousand inactive (+ 0.4%) aged between 15 and 64 years. And so the employment rate decreased by 0.1 percentage points, reaching 56.5 percent. While on-year employment grew by 0.9% (+192 thousand persons employed) and employment rate of 0.6 points. The unemployment rate, 11.8%, is instead dropped by 0.1 percentage points. In the twelve months unemployment decreases by 8.1% (-264 thousand people looking for work) and unemployment of 1.0 points. As for the inactive, the rate is 35.8%, up 0.2 percentage points. Yoy inactivity is down by 0.3% (-39 thousand inactive persons) and inactivity rate is unchanged.

In this context, the estimate of the employed aged 15-24 decreased by 1.2% compared to August (-11 thousand). On a monthly basis, the youth employment rate , 15.2%, decreased by 0.2 percentage points. The estimated number of young inactive is then increased by 0.5% in the monthly comparison (+22 thousand) and the inactivity rate of young people between 15 and 24 increased by 0.4 percentage points, reaching 74.4 percent. With reference to the average of the last three months, for young people aged 15-24 is observed the decline in the unemployment rate (-0.6 percentage points), compared with a slight increase in both the occupancy rate (+0.1 points) is the inactivity rate (+0.1 points). In trend terms, compared to September 2014, the employment rate of young people aged 15-24 falls by 0.8 percentage points, also decreases the rate of unemployment (-1.3 points), compared with a growth rate of inactivity 2.0 points.

That was enough to make exclaim to the President of the Council, Matteo Renzi , that “the Jobs Act has restored credibility level internationally, but also it has created opportunities and stable jobs. And ‘the right time, Italy again. ” Renzi admits that there is “much to do, yet. But let’s not forget where we were. ” For the Minister of Labour, Giuliano Poletti , then, “Istat confirm a structural improvement of the labor market in terms of quantity and quality: in a year, the employed increased by 192 thousand units, 264 thousand unemployed people are less and grow stable contracts; Moreover, in September the unemployment rate down to 11.8% and youth unemployment, though still very high, drops to 40.5%. ” Less euphoric President of the Senate Committee on Labor Maurizio Sacconi (New Centre-Right) points out that “Istat recorded a labor market that has struggled to consolidate reversal trends “. For Sacconi “then returns to the theme of productivity as a prerequisite for doing jobs. And productivity is done with new technologies and linking to it wages “.

In the middle Confcommercio speaking of” content downsizing “recorded in September in the number of employees that “confirms the weakness of the current recovery.” But also a “given that, however, does not question the tendency to general improvement of economic performance of Italy.” Today, the association also points out “the number of employees is higher than the minimum in September 2013 411mila people, however, still lower than the peak in April 2008 for 656mila units. And ‘therefore necessary to reinforce the recovery process through a tax policy more resolute in cutting the excess tax burden on businesses and citizens Italians “.

Students of Adapt , the school founded by Marco Biagi , speak instead of a “less rosy reality and linear than that painted by many observers in recent months”, stressing that they were “spent 15 billion euro (maybe 20) not to have any influence on the Italian real priority, in terms of productivity, namely increase the number of employees “. Recalling that the data of July-August-September, “will be published revised when the data of the third quarter, we note that the number of employed fell by 36 thousand units, but also worries the increase of inactive, + 53 thousand in all, of which + 22 thousand among young people “, write down even experts Adapt.
” The decline in employment nails Italy for an employment rate of 56.5%, now less than 3 points to the Spanish and last in Europe , excluding nations affected by profound social and economic crisis. The number of people working in our country remains the main problem, both social and sustainability of the economy and welfare. The increase of inactive only aggravates a worrying situation in which only one-third of the population has a job and has to support herself and two other people. “

According to Adapt, then even the” positive decline the unemployment rate (now 11.8%) is limited to a 0.1% and at this rate it will return to pre-crisis levels, though there will be mishaps, around 2020 “. Also with regard to job stability, the situation does not appear rosy. “Compared to the type of employment is not found the wait Copernican revolution based on the stability of new hires – observe scholars – in fact in September have lost 21 thousand jobs permanent than 4 thousand complete. On an annual basis then, the permanent contracts grew by 0.8% marking a slight reversal trends but always widely posted rising by 4.6% of contracts temporary , which continue to be by far the preferred way in which companies take on. “

In short,” September seems to have brought back to the harsh reality of the Italian labor market, after a moment of positively impacted by the effects (short) of decontribution and ‘ summer seasonal employment . The rate changes are still in the order of 0.1%, which can lead to the conclusion that more than any analysis wins the fact that the situation is still in stagnation, “it said in the analysis that detects as compared to 790mila contracts taking up the decontribution statutory Stability of 2015, they are only 101mila jobs in more permanent. These funds were then used only for conversions and based on an idea of ​​stability that is so lacking in the law as the reality of the labor market “.

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In September, unemployment still down 11.8% but -36mila employed – Il Sole 24 Ore

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This article was published on Oct. 30, 2015 at 10:20.
The last change is the October 30, 2015 at 10:46.

New to decrease the rate of unemployment in September amounted to 11.8% , the lowest level since January 2013. The notes Istat, explaining that the decrease of 0.1 percentage points from the previous month following the July (-0.5 points) and August (-0.1). In the 12 months there are 264 thousand fewer people looking for work (-8.1%).

Youth Unemployment 0.2%
The unemployment rate youth in September to 40.5%, down 0.2 percentage points from August. In a month there were 14 thousand young people between 15 and 24 years younger than looking for employment. But after three months, there was an initial drop in employment young (-11mila) due to the increase of the inactive.

But the busy fall: -36mila
It is actually the entire employment growth to record a halt. After the increase in the last three months (+ 0.7%, or +166 thousand employees between June and August), in September 2015, the estimate of the employed decreased by 0.2% (-36mila). On an annual basis, however, employment grew by 0.9% (+192 thousand persons employed) and the employment rate by 0.6 points. The decline in September covers both employees (-26mila) and independents (-10mila). The employment rate fell by 0.1 percentage points, reaching 56.5%. Compared to the previous quarter, from July to September 2015 the employment rate still growing (+0.2 percentage points). In September 2015, the estimate of the employed decreased compared to August due to both the male component (-0.2%) and females (-0.1%). The male employment rate amounted to 65.7%, and among women, 47.5%, both decreases of 0.1 percentage points.

The inactive grow by 0.4%
After growth in July (+ 0.6%) and the decline in August (-0.6%) the estimation of inactive people between 15 and 64 years increased in September by 0.4%: + 53 thousand people. The inactivity rate is 35.8%, up 0.2 percentage points. On an annual basis, however, inactivity is down by 0.3% (-39mila people) and the rate remains the same.

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Checks on the statements: Incoming other 65 thousand letters from tax authorities – The Law for All

Alert anomalies relating to industry studies, pre-compiled, 770, failure to submit the VAT form: you can take advantage of the voluntary disclosure.

The IRS does not expect more of the approaching deadlines of prescription to proceed with tax controls: now the ‘ Revenue Agency moves almost in real time to invite taxpayers to come into compliance and possibly exploit the new active repentance introduced with the stability law last year [ 1] ; a strategy implemented through the letters alert that, after those on the anomalies of 730 invited earlier this month, now also extends to the VAT returns 2014. As mentioned yesterday by the management of the Revenue, these days taxpayers will receive 65 thousand communications intended to persons who have not submitted the model or have it sent only with the part VA compiled, ie the part where you indicate only general data (such as the code of the activity) that do not impact on the computation of the tax due and then. With this latest flurry of warnings, notices sent by the Revenue preventive reach share 513mila.

After the VAT will be up to alert to the anomalies on field studies (190 thousand), for gains (20 thousand), for the spesometro (about 13,600), the 770 (4200), and for the recipients of the tax return precompiled (220 thousand). In the latter case, it is the taxpayers who have not submitted either the 730 or Unico (by last September 30) despite having received more income from work employee or board from different substitutes (employers or social security institutions), and therefore did not carry out the adjustment of taxes due.

At the same time, yesterday came the publication of a measure Revenue [2] to the financial administration provides the information to verify taxpayers to regularize their position with sanctions reduced. Such information will be sent via Pec or postal mail.

How to come into compliance

The prior notification of the tax authorities allow taxpayers to regularize their position avoiding control or investigations in the future. To this end, the recipient of Alert will not respond to the letter received, but only to decide whether or not to rectify its position (if, however, believes that it has already properly discharged its obligations can communicate by phone Revenue).

Returning to the communications regarding the ‘ tax , who has filed a return with the only VA compiled can exploit the active repentance regularizing errors and benefiting from reduced penalties.

However, those who had not presented all the VAT return by 30 September, while there are held, can send it to the tax authorities within the next 29 December (90 days from the ordinary).

For the statements precompiled The IRS has already sent letters to those who have forgotten to submit the declaration despite having received more income from employment or retirement from different substitutes (employers or social security bodies) and did not make the equalization of taxes.

Finally, with regard to the anomalies on field studies The IRS has already sent 190 thousand alert: after receiving the notice, the taxpayer may benefit from the new chance granted by repentance long.

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Telecom increasingly French. Check billionaire Niel with 11% – Reuters

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Who is Xavier Niel, the son of Arnault which bought 11% of Telecom – Il Sole 24 Ore

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This article was published on Oct. 29, 2015 at 21:10.
The last change is the October 29, 2015 at 22:37.

Capello long, jeans and white shirt with no tie strictly, Xavier Niel does not look for anything to her colleagues in the elite French business and management. Besides its history has nothing to do with the classic path of formation of the great patron beyond the Alps. Niel is a self-taught, quite a rarity by the parties in Paris. And one who loves to upset the rules, throw a stone in the pond of the status quo. Especially if you are at stake of money.

Born in 1967 into a middle class family of Maison-Alfort, quiet town south of the capital, is passionate about information technology in 15 years, when his father gave him a Sinclair ZX81. A passion that will never abandon him more. In 1984, at age 17, she realizes that the Minitel (the ancestor of the Internet, somehow) has extraordinary potential. Abandoned his studies (also in mathematics), it creates the first company and flows in a space that looks more than promising, and that of sex encounters. Start making the first money investing in some sex shops and peepshow in Paris and Strasbourg.

A debut in business a few years later (in 2004) cost him a month in jail on charges of procuring and Santé (each ending with storage), as well as that of misuse of corporate assets (for this will be sentenced to two years, although covered by the conditional, and 250 thousand euro fine).
Meanwhile founded Iliad (thinking of the Trojan horse that hackers introduce systems considered inviolable ) and Free, betting on the future of the Internet. Since the late 90 his fixation is to invent a tool that can connect to the Internet, the telephone and the television.

On 1 November 2002 the genius of Niel ‘computer – but also marketing – launches the Freebox with its offer triple pay. A technological revolution made in France (to EUR 29.90, a third less than the proposals of the market at that time) that will force everyone to follow him.

Niel becomes rich and invests in two directions: the financing of start-ups – with the creation of funds aimed, often along with other protagonists of the new wave of high-tech French (at the end of 2010, the American magazine Business Insider cites his Kima Ventures such as business angels most important in the world for number of investments) – and the media. In 2010, together with Pierre Bergé and Matthieu Pigasse, buy Le Monde. Then the Nouvel Obs. And then comes in many sites of investigative journalism, by Mediapart in Bakchich until the Atlantic.

But the core business remains one of the Internet and telecommunications. On a market in plaster, in the hands of three big operators who make profits hand over fist, launches in January of 2012 the offer Free Mobile, 19, 90 €, with unlimited calls to French numbers and other 40 countries. Another revolution, that will completely transform the scenario, putting pressure on competitors and bringing Free to win in three years, a 16% share and 11 million customers, making it the third operator in France.

The parent company Iliad – whose Niel has 55% – now has a market capitalization of 11.2 billion and ended the first half with revenues of € 2.2 billion (+ 7%), EBITDA of 725 million (+ 16%) and net profits of 163 million (+ 16%), with a debt of 1.3 billion. And the goal is to reach 25% of the market.

Married his second wife, the daughter of Bernard Arnault, owner of the number one global luxury LVMH – enters the top ten billionaires French: in ninth place, with a personal fortune of 8 billion. She opened a school, free, for geeks and invests 200 million in what would become “the largest incubator in the world of start-ups.”
He also began to look around in search of targets for external growth: disburses 322 million to buy Monaco Telecom, transformed in technological laboratory of the group, and 2.3 billion for the third mobile operator Orange Suisse Switzerland.

It fails the acquisition of T-Mobile in the United States (18 billion from an operation, two US funds, money, allies and credit lines not lacking), but the ride to the opportunities – in markets with strong potential and in view of the inevitable restructuring of the European telecommunications – continues. Today in Italy, where it could play a role of great complementarity than Bolloré. Tomorrow, it says, in Belgium.

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Telecom: Niel 11% of equities and derivatives – ANSA.it

The Frenchman Xavier Neil bought 11% of Telecom. The 6% in equities, 5% in derivatives. The title flies to Milan Stock Exchange and earn 4%.

In detail, the French entrepreneur holds call options (right to buy) for a share of 6% Telecom Italy and signed cash-settled derivatives for another 5% stake in the Italian group.

The billionaire Xavier Niel, born in 1967, is the founding shareholder of Free, one of the main groups of telecom and Internet providers across the Alps. It ‘also one of the reference shareholders of the newspaper Le Monde. According to financial sources his arrival in Telecom is linked with that of Vivendi, the media giant transalpine headed by Vincent Bolloré, a former partner at 20% of the Italian group. But in fact, waiting for the arrival of Niel is officially in updates to Consob about major holdings, the French presence in Telecom is now in the order of 31%.

Telecom by Oi yes a long letter, squeezes time for fusion Tim – The Board of Directors of Oi said yes to the proposal by a unanimous vote of Letter One but has asked the company’s Russian Friedman to ensure a capital injection of $ 4 billion instead a figure of ‘up to’ 4 billion of the initial proposal. The board then asked to up the tempo from 9 months to just 60 days to agree with Tim. This was stated by the Globo newspaper according to which Oi and advisor Battalion Pactual will now begin work on a proposal for a merger with Telecom Italy Tim-Oi.

Niel tells Consob, voting rights of 11.2% – Xavier Niel has communicated to CONSOB on October 28 to have a ” total long position in Telecom ” which gives’ voting rights sull’11,209% stake. The reports Consob in updates about major holdings.

” On October 21 a total long position, through the company ‘Rock indirectly controlled investment’ ‘made up’ ‘participation potential equal to 6.100% of the share capital with voting rights arising from the execution of different option contracts “call” (a contract for a 4,888% involving the settlement to 21 June 2016; a contract relating to a 0.606% involving the settlement in five installments between one business day before the three days following the September 21 2017; a contract relating to a 0.606% involving the settlement in five installments between one business day preceding three business days following the Nov. 21, 2017) ” and ” other long positions equal to 5.109% of the share capital with voting rights ”.

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Coming in France Telecom: Niel 11% between options and derivatives – The Republic

Milan – The French Xavier Neil holds 11% of Telecom: 6% in options, 5% in derivatives. A news that caused a strong current of purchases on the stock of the company TLC Stock Exchange, with the actions that arrive to tear up to 8% and then be frozen in volatility auction. The entrance of the French billionaire, founder of Internet operator Iliad (which has 55% and operating with Free Mobile), was reported by Bloomberg , which cited two unnamed sources familiar with the each other. The evaluation of a 11% share of the Italian telephony operator is about 1.7 billion euro, at market value. According to Forbes , Neil – born in 1967 – has a personal fortune of $ 8.3 billion, making him the ninth richest man in France and the 136esimo in the 2015 ranking of global McDuck.

From Consob communications about major holdings it emerges as Niel has long positions in Telecom Italy (call options) or 11.2% of the share capital with voting rights. The French entrepreneur holds from October 21 through the portion Rock Investment. The package consists of a potential holding of 6.1% resulting from option contracts call that have different settlement dates. In particular, a first package of 4,888% required by Regulation 21 June 2016; a second of 0.606% under the rules in five tranches “of a business day before the three days following the September 21, 2017″; 0.606% on the third contract will be governed “in a day preceding three business days following the 21 November 2017″. In addition to these calls, Niel has long positions amounting to 5.109% always with voting rights.

Niel is with man in business French Matthieu Pigasse, the co-owner of the newspaper Le Monde and, according to press reports in recent days, is working with the same Pigasse the launch of an investment fund dedicated specifically to operations in the media sector. His presence potentially open to a challenge of transalpine with Bolloré, since Vivendi that already have a market share of approximately 20% of Telecom. Vivendi wants to revitalize the Italian company under a plan that provides for the creation of a media group focused on South. The backbone should be Canal-Plus, in partnership with telecoms operators for the distribution of content and TV film. Niel, still remembers Bloomberg , is a number of investments in successful startup, as Deezer, and has also made investments in telecommunications via staff outside France: Orange Switzerland has bought 2.9 billion, the last year. At home, his Iliad started a price war on rates that accelerated the process of restructuring of the sector; went wrong, however, the attempted acquisition of T-Mobile from Deutsche Telekom Us.

Looking forward to reactions to the news agency launched the US, new developments for Telecom also coming from South America, where long letter – investment company of Russian tycoon Mikhail Fridman, based in Luxembourg – has sent a proposal to Oi investment of 4 billion dollars aimed at the merger with TIM Brasil. According to the newspaper Globe , in fact, the board of directors of Oi said yes by a unanimous vote to the proposed long letter, but asked the company of Russian Friedman to ensure a capital injection of $ 4 billion instead a figure of “up to” 4 billion of the initial proposal. The board then asked to up the tempo from 9 months to just 60 days to agree with Tim. For the Brazilian press, Oi and the advisor Battalion Pactual will now begin work on a proposal for a merger with Telecom Italy Tim-Oi.

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Telecom Italy

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Deutsche Bank: loss record 6 billion. Maxi plan cuts – Il Sole 24 Ore

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This article was published on Oct. 29, 2015 at 11:21.
The last change is the October 29, 2015 at 11:30 am.

A red from 6.01 billion in the third quarter is penalizing the Deutsche Bank on the square Frankfurt, where it transfers approximately 3.50%. To trigger the store also the announcement of the suspension of the dividend for the years 2015 and 2016 and restructuring charges of 3.8 billion euro. On the other hand it is a record net loss for the German institute, caused by significant write-downs and new forecasts of legal risks. Just think that in the same period of the previous year the group had lost “only” 94 million euro.

In fact it was not a cold shower for the market, because management had already announced the provisional figure in mid-October. The German bank now runs for cover and launches a plan of reorganization with drastic interventions: suppress nine thousand jobs and will withdraw its presence in ten countries. The goal is to get to save 3.8 billion by 2018.

The job cuts

Deutsche Bank will abolish 15 thousand jobs, of which 9 thousand indefinitely, and will withdraw its presence in ten countries. The goal is to get to save 3.8 billion by 2018. The German banking group announced that will come from Argentina, Chile, Mexico, Peru, Uruguay, Denmark, Finland, Norway, Malta, New Zealand. In Europe, the bank will strengthen its presence by focusing on synergies between Private Banking and Wealth Management. A reduction of 200 branches in Germany. Italy, in this framework, remains a key market for Deutsche Bank and any rumor of an alleged withdrawal is totally unfounded.

The plan for 2020, in fact, is much more drastic and provides a cut of number of customers served by the investment banking division of 50%.

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Eataly: 1 * supplementary agreement signed with unions – BBC

18:22 MILAN (AFX) – Francis farinetti, CEO of Eataly, has signed the first contract integrative group, in agreement with the unions Filcams Cgil, Cisl and Fisascat Uiltucs. The agreement, according to a note, and ‘valid from 1 November this year to 30 October 2018 and “fully represents the harmony of intent with the unions, with the aim of enhancing the processes of employee participation Eataly strategies development, corporate values ​​and more generally in the learning experience of work in the company. ” The supplementary contract provides for a series of news ‘, particularly in the “welfare: is established a complete system of labor relations articulated nationally and point of sale, for the new openings will define Eataly’ preventive arrangements with trade unions to Organic define and limit the use of precarious work; are regulated institutions such as health and safety, the time and the organization of work, which will be the subject of constant confrontation between the parties. The working week will be ‘built favoring reconciliation needs of female and male workers; the first 3 days of deficiency disease and injury will always be paid; you will work during the life ‘of jobs and the level of employment; the latter, however,’ the date of the code will know immediately immediate adjustments ; on the birth of a child will be ‘recognized a good spending of 300 Euros, another good (amount of 200 Euros) will be’ paid also for the wedding; the rights of employees who get married are extended to unmarried couples and homosexuals etersessuali, including permits for assistance in case of serious misconduct, and death; They are introduced 16 hours of paid leave for the inclusion of children in the day nursery; They are also allocated 300,000 Euros. during the validity on the initiatives concerning the welfare and needs of women workers and workers who will be the subject of a search in the next few months, at the end of which the parties will agree on a protocol of targeted interventions; Finally, within six months of the initialling Eataly and the trade unions will define an annual award on criteria of productivity, ‘quality’ and equity ‘. “” We are very pleased with the agreement signed with the trade unions for the proactive spirit that has characterized these 10 months of meetings. We found it at the negotiating table interlocutors who shared the first moment of Eataly philosophy that focuses on the more than 1,800 girls and boys who are committed every day with pride to bring the best of the excellent Italian food on the tables of our loyal customers. an important step for a young company and commitment to look at the development of Eataly with the will ‘jointly build the future together, “said Farinetti. Even representatives Filcams Fisascat Uiltucs have espressso great satisfaction” with Eataly and ‘defined understanding highly innovative, as also the platform of demands has been a strong element of discontinuity’ mode compared to the ‘classical to formulate requests for trade-union nature. With this agreement the unions have been able to seize the opportunity for change in the interests of the workers and employees “. Com / mur rosario.murgida@mfdowjones.it (end) AFX NEWS 2818: October 22, 2015

Fed rate hike postponed but could come in December. Shooting dollar – Il Sole 24 Ore

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This article was published on Oct. 28, 2015 at 19:06.
The last change is the 28 October 2015 at 20:17.

The US central bank has once again postponed the expected rise in interest rates. The FOMC, the Monetary Policy Committee which met yesterday and today, has left the Fed Funds unchanged at a record low, near zero. The next meeting is scheduled for 15 and 16 December. The Fed, however, has explicitly stated the next meeting as one in which could raise the cost of money and took off from the press at the impact of international economic developments on the US economy, an omission that according to observers could herald a rise rates in December. The decision to leave unchanged Fed funds was taken almost unanimously voted against only Jeffrey Lacker, president of the Richmond Fed, as that last month he would rather been driven up by 25 basis points.

“In determining whether it will be appropriate to raise the target range at the next meeting – the phrase that has taken the market – the Committee will assess the progress – both actual and expected – to the objectives of full employment and inflation to 2 percent “.

The more assertive tone of the press has convinced the markets that the next time would be good. So the dollar has taken the euro to 1.09 share, the highest for nearly three months, yields on ten-year US government securities are in turn rose to 2.08% and Wall Street wiped out the gains of the day.

The puzzle rate – the hypothesis of a close is on the launch pad for months now – it is complicated even more by the markets in recent weeks. We thought the worries and the answers to Europe and Asia. The quarterly pressure of Corporate America. The ECB is headed by Mario Draghi announced new stimulus for the fragile eurozone. Pro-growth measures are coming perhaps as early as Friday by a Bank of Japan facing a country once again smell of recession, while China, to fight the illness “emerging”, it has returned from the sixth easing policy monetary in less than a year. As for the Fed, among the dilemmas of his leadership, the December meeting could mark the first rate hike since 2006.

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