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Hundreds of thousands of people gathered on the Puerta del Sol in Spain's capital Saturday evening, to celebrate the anniversary of the movement was born a year ago. A success for the organizers, but will not necessarily last. Thousands of outraged gathered in the Puerta del Sol to celebrate the anniversary of the movement, May 15, 2012

To mark their first birthday, the indignation, surging last year in Spain to denounce the crisis, corruption and unemployment, have fallen back on the streets this Saturday. The desire to prove to those who claim they are gone they are wrong: In Madrid, thousands of demonstrators converged from 19 hours in several columns from the four cardinal points of the capital, towards the Puerta del Sol. A symbolic return to this place that their movement was born, May 15, 2011.  

"Rajoy go away!", "No to dictatorship of the markets", "The banks need an injection, but lethal yes", it said on placards brandished by protesters – signs distributed by organizers of the movement a little earlier. "The struggle continues, whatever the cost," shouted one of them in the microwave. "There is not enough bread for all these thieves," the indignant howl – a pun between chorizo ​​pan and then in Castilian slang thief said to be the most famous Iberian sausages.

Slogans as varied as are the claims. And illustrate the inability of the movement to bring the past year, with an overall theme. "I am here to protest against the liberal reforms of the Conservative government Marianno Rajoy, says Beatriz. All Spaniards are affected by these budget cuts and layoffs," continues this quinquagénaraire. "We protest against the capitalist system, banks, austerity policies," adds Elias, graduate unemployment.

Lack of positive proposals

"We demand democracy, the real, not the electoral system that makes the right is in power without having won a majority of the people," said Irene, one of organisatricee movement of May 15 In Spain, the system législtaif there favors the party out at the top of the polls, giving him a majority amplified. Last November, the People's Party has won the parliamentary elections with an overwhelming majority (186 seats out of 350). Since then the government of Marianno Rajoy implements a policy of unprecedented austerity.

Fertile ground, a priori, which was the anniversary of the movement a success. In Barcelona, ​​there were between 45,000 – according to police – and 200,000-according to organizers – outraged samredi evening. In Madrid, the Puerta del Sol, the crowd was also the rendezvous – 30,000 according to police, "hundreds of thousands" according to organizers. The leaders of the movement of May 15, intend to hold for four days, a "permanent assembly" in the square, defying an official ban that events must end at 22:00 each evening.

Not sure though as it lasts. Because unlike a year ago, the streets of Spain were invaded by almost weekly demonstrations called by trade unions against austerity. The outraged were drowned in the flood of protests. For Wald, a Scot living in Madrid, the shortness of the movement of outrage is due to the lack of proposals positives.Ce that unites them, in fact, it is the opposition. The above are outraged anti-system.

Responding to a horizontal structure, refusing to be in the party, they were unable to "organize discontent without concrete ideology," Analysis Antonio Alaminos, a sociology professor at the University of Alicante. "The result: many small groups relatively disconnected them who are no longer a social movement," he adds.

The Tokyo Stock Exchange plunged by nearly 2% Tuesday, within the scope of the strong yen, a trend that still weighs on export-related values, and a caution investors because of renewed concerns about the debt crisis of the euro area.

The Nikkei lost 1.78% or 169.94 points to 9,350.95 points and the Topix broader, yielded 14.78 points (-1.84%) to 789, 49 points.

The Tokyo Stock Exchange remained closed Monday due to holiday, has also suffered from U.S. and Chinese indicators worse than expected.

The Nikkei fell to its lowest and closing of two and a half months while the Topix fell below 800 points for the first time since mid-February.

Richemont, the world number two luxury, will invest 100 million Swiss francs in a research and training in Haute Horlogerie in Geneva, at a time when the Swiss watch industry faces to a significant shortage of manpower.

The group, whose brand portfolio includes jewelery houses Cartier and Van Cleef & Arpels and the prestige watches Vacheron Constantin and Roger Dubuis, also plans to invest 60 million in training and research ten years.

"The group will strengthen its foothold in Geneva and its commitment to the regional economy," said the Swiss group said in a statement Monday.

Richemont, which rivals the French LVMH, plans to build a training and research integrated 30.000 square meters in Meyrin, a suburb of Geneva.

The site will be built near the headquarters of the manufacturer Roger Dubuis, will bring together a creative workshop of Van Cleef & Arpels and production workshops of Vacheron Constantin.

Will be added the Manufacture Stern Geneva 1898, a manufacturer of high-end dials that will merge its operations with those of the Genevan Manufacture of Haute Horlogerie, specializing in components of movement.

The project also includes the creation of a center for training in the watch, which will accommodate 45 apprentices in three years, and a research center. 

"Meyrin offers the opportunity to create a magnet, and exchanges of excellence," said Richard Lepeu, the group's executive director, at a press conference in Geneva.

Richard Lepeu highlighted the interest of the pooling of research and the transmission of knowledge, with particular reference to the prevailing model in Silicon Valley.

"Rather than make everyone at home, we decided to share," he added.

The center, named "campus of Geneva watchmaking", will open its doors in 2014 and is expected to host 900 people by 2020, the group said in a statement, adding that 400 recruitments are planned term. 

"The campus is reminiscent of the university," added Richard Lepeu, explaining that the group had wanted to develop a concept that would appeal to young apprentices.

The Swiss watch industry is facing a shortage of skilled labor, while the sector is facing significant pressures on production capacity to face the excitement of Chinese consumers for luxury watches.

Reduced deliveries by Swatch Group, the leading manufacturer of movements and watch parts in Switzerland, has in addition forced manufacturers of luxury watches to substantially increase investment in production to secure their supply.

The Spanish economy is expected to in the first quarter a contraction equivalent to that of the last quarter of 2011, said Minister of Economy of the country in an interview published Monday, confirming that economy is in recession.

"If you had asked me this question two months ago, I would have thought the first quarter of 2012 would have been much worse than the last quarter of last year. But this does not happen, "said Luis de Guindos according to the interview given to El Mundo

." At the moment, I see a first quarter like the last quarter of last year. "

These words fall in line with other such statements recent times by members of the government, suggesting that Spain is in recession again

. gross domestic product (GDP) declined 0.3% in the fourth quarter of 2011, but the fall of the Euribor rate, used to adjust interest rates on mortgages of the Spaniards, had brought a strip ger respite to the economy, said Luis de Guindos. 

According to many economists, the Spanish economy will contract more strongly than projected in the government, while the austerity measures be put in place gradually.

Yields of Spanish debt to ten years have passed Monday morning to above 6% for the first time since the beginning of the year, while the Spanish CDS reached new highs, a sign As tensions in the bond market countries 'peripheral' in the euro area have not improved.

The Minister of Economy also said that the government would take further measures to help small and medium enterprises solvent to obtain credit from banks.

Demand for credit from businesses and households in the euro area is expected to remain weak over the coming months, which should limit the risks of inflation, said Thursday the European Central Bank in its monthly bulletin.

Injection of more than 1,000 billion euros in three years by the ECB does not have a dramatic impact on taking credit, consumers and businesses continuing to play the card of caution because of the climate uncertainties.

"Leading indicators suggest that demand for loans to households and non-financial companies should remain low, at least during the first part of 2012," said the ECB.

She also notes that the trend that banks are tightening lending is confirmed. 

Thursday, also, Peter Praet, Executive Board Member of the ECB decided that the world economic situation remained "extremely complicated".

Citing the restructuring of its operations, the Japanese electronics giant announced a workforce reduction. Sony will reduce its workforce by 10,000 people worldwide by the end of the year, due to the restructuring of several activities.

10,000 posts in less. The Japanese electronics giant Sony will reduce its workforce worldwide by the end of the year, due to the restructuring of several activities, said Monday the Japanese Nikkei business daily. This decrease corresponds to about 6% of total staff employed by Sony in late March 2011, 168,200 employees.

At a roundtable a few weeks ago, the new CEO of Sony, Kazuo Hirai, had indicated that he was to be expected of such decisions, given the need to restate the group which fears a loss annual net 220 billion yen (over $ 2 billion) and an operating deficit of 95 billion yen (900 million) for the year ended March 31.

Half of the positions being reduced in Japan and abroad will result from the transfer of operations, said the Nikkei, the rest resulting in particular from the need to reduce fixed costs. Sony recently decided to divest a subsidiary of chemical manufacturer of adhesives and films and optical disks. The transfer is expected during the last quarter of 2012.

The group is also trying to consolidate its small and medium size liquid crystal displays (LCD) with those of his fellow Hitachi and Toshiba in a joint venture in order to fight more effectively against Asian rivals.

Kazuo Hirai has also set a goal out of the red in two years the flagship TVs, a deficit for years and currently deep restructuring. In this context, Sony has already sold its 50% stake in the joint venture S-LDD founded with her South Korean rival Samsung Electronics. He now wants to thoroughly review its supply chain and associated cost structure. A press conference on the group's strategy for next year is scheduled Thursday, April 12.

Sony had already suffered severely as a result of the global financial crisis of 2008-2009, while eliminating more than 16,000 jobs worldwide and closing several factories to delegate more tasks to subcontractors.

Its competitors and compatriots Panasonic and Sharp are also forced to rethink their product lines and operating modes to adapt to a competitive environment increasingly fierce, with a deteriorating economic environment and the outbreak of the Japanese currency.

Frédéric Oudéa, CEO of Societe Generale, will collect under a fiscal 2011 bonus of 682,770 euros gross, down 43% compared to 2010, indicates French bank on its website.

SocGen added that in 2012 Frederick Oudéa receive a fixed gross one million euros, an amount unchanged from that of 2011.

"In a context of major economic crisis affecting the banking sector and the results of Societe General, the board (of directors, Ed) has decided to enroll in the wage restraint policy implemented by the Directorate General for all Group employees, "said SocGen in a paper posted online. 

The three deputy managing directors of the bank, Severin Cabannes, Jean-Francois Sammarcelli and Bernardo Sanchez Incera, receive variable remuneration crude were down 28% to , 53% for 2011.

Societe Generale last year saw its net profit fall by 39%, accounts that have been sealed by the debt crisis in the euro area and costly ts related to the restructuring of its activities in corporate banking and investment.

BNP Paribas has in turn reported in mid-March pay cuts ranging from 8% to 19% for its three most senior executives for 2011. 

At Credit Suisse, the remuneration of the CEO Brady Dougan for 2011 was reduced by more than half, which was reduced to 5, 82 million Swiss francs (4.8 million) against 12.76 million the previous year.

Aviation is a sector which represents over 56 million direct and indirect jobs and generates resources which would make itself the equivalent of 19 e ; global economy, says a report released Wednesday.

The report, prepared by Oxford Economics on behalf of the professional body Air Transport Action Group (ATAG), observes that freight transported annually represents 35% of world trade in value but only 0, 5% by volume.

The report "Aviation: Benefits Beyond Borders" (Aviation: benefits beyond boundaries) was released at the opening of the Annual Conference on Aviation and ATAG environment that will last two days. 

GDP created directly and indirectly, eg through international tourism, for aviation through its 1,568 registered airlines, is $ 2,200 billion (1,700 billion).

"Taking into account the additional benefits of speed and reliability of air transport companies that exist thanks to air freight the impact e … Economic goes well beyond, "said the CEO of ATAG Paul Steele.

Of the 56.6 million jobs, 8.4 million are direct jobs, 9.3 million are under the subcontract and 4.4 million are induced by the spending of sector employees. The share of tourism-induced aviation represents a total of 34.5 million jobs.

European shares ended higher Friday, boosted by the creation of jobs higher than expected in the U.S. and the high rate of private sector participation in the Greek debt restructuring.

In Paris the CAC 40 closed up 0.26% (9.12 points) to 3,487.48 points. For the week, the Cac 40 lost 0.39%. In London, the FTSE took 0.47%, the DAX in Frankfurt 0.67% and the pan-European FTSEurofirst 300 index 0.54%.

European banking stocks, the most directly affected by the Greek record, started the session up but the sector index is then passed into the red and finished down 0 , 48%. Commerzbank has sold 2.48%, 1.03% Societe Generale and Credit Agricole 0.96%.

The Italian bank lost 2.76%, suffering from profit taking.

The success of the exchange offer of securities of Athens with its private creditors should allow a rapid disbursement of the first tranche of the new aid package of 130 billion euros to Greece, thus avoiding the latter a disorderly default.

The U.S. economy created 227,000 non-farm jobs last month and the unemployment rate remained at its lowest level in three years, to 8.3%, according to Labor Department statistics.

The euro fell back, however, significantly against the greenback, around $ 1.31.

General Motors is in discussions at an advanced stage to take a small stake in Peugeot as part of their proposed strategic alliance in Europe, said on Monday close to the matter.

It is likely that GM would take a stake of less than 5% in the first place and a deal could be announced in the coming days, sources added, however, warn that there is not yet and agreed that the talks could unravel.

GM has declined to comment. A Peugeot spokesman did not respond immediately to messages and calls for comment.