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Loan Union plans to become a beneficiary in excess of 100 million euros in loan production per year payday loans direct lenders.

The joint complaint of the United States, Europe and Japan against China is not surprising. The World Trade Organization (WTO) has already ruled illegal last summer, Beijing's restrictions on exports of commodities in general. And China's argument that its quota of "rare earths" are intended to "protect the environment and achieving sustainable development" is not fooling anyone.

China, which recorded a trade deficit in February to $ 31.5 billion, supports its industry through subsidies and by keeping its currency, the yuan, at a deliberately undervalued. But at a time when the "Buy European Act", like the "Buy American Act", is invited in the French election campaign, there are concerns of a revival of protectionism in the world.

If one believes the Swiss NGO Global Trade Alert, trade tensions are "at their highest level since the Lehman crisis in 2009" and, since July 2011, "protectionist measures exceeded those due to liberalization three for ". In its latest report on trade barriers, Brussels estimates that European companies "have suffered from a revival of protectionism, especially in emerging countries."

This revival is not just Asia. In Brazil, where growth fell from 7.5% in 2010 to 2.7% last year, the Minister of Finance decided a 30% increase taxes on imported vehicles whose parts are not at 65 % at least "made in Mercosur" (Argentina, Brazil, Paraguay, Uruguay, Venezuela) payday loans. The National Confederation of Industry of this country calls for new support measures.

Asia and Latin America in mind

Pretext not to disrupt the balance of payments, while its access to capital markets remains limited, Argentina imposed a series of restrictions "informal" imports: Porsche had to commit to buying wine and oil Argentine olive to bring a hundred cars, and BlackBerry has opened a plant in Tierra del Fuego to continue to sell its mobile phones. More generally, the Mercosur countries have agreed to increase their taxes, up to 35% on all products imported from outside of their block.

At the last WTO ministerial conference in December, its director general, Pascal Lamy, noted that the number of protectionist measures worldwide had increased from 220 in 2010 to 340 in 2011. China has two logical write two MEPs in a recent report: "the temptation of protectionism that conditioning access to its domestic industry to put its head in all new waves of technology (…) and that of the universalist ambitions of foreign market access. "

Certainly, calculates the WTO anti-dumping investigations declined from 213 in 2008 to 153 in 2011. But any return to protectionism today would cost $ 800 billion into the global economy, she warns.

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Four major French media have joined forces to create the first private marketplace the ability to market, real-time auction, unsold advertising space on their websites. Before the rise of brokers in digital banners, boards Amaury Media, FigaroMedias, Lagardère, and TF1 Advertising Advertising AdMediaPremium have created their own platform to market these advertising formats on the Internet. The goal is to have a structure with a critical size. "We will offer media agencies and advertisers a platform that will combine power and premium content," says Constance Benqué, Chairman of Lagardère Advertising. Indeed, the four founding members show an audience of 22 million unique visitors per month and a stock of 3 billion web printing.

"It's a strong initiative and structuring. It reflects the desire of large media companies to restore value to their advertising, "said Laurent Solly, CEO of TF1 Advertising. Specifically, the four media sign a management contract with exclusive AdMediaPremium for marketing their inventories. "But this structure is also open to all other media sites premium. They will receive exactly the same commercial terms as founding members. We guarantee it, "says Pierre Conte, Deputy Managing Director and Group President of Figaro FigaroMedias.

AdMediaPremium, which will employ eight people, will also aim to collect and manage data of Internet users. In the digital world, data are valuable assets to sell off it would be detrimental to external actors.

Haute couture and ready-to-wear

On the site of a major media, advertising rates vary from 1 to 10 according to the hearing of the pages. The home pages of sites and themes are vertical slots super premium marketed directly governed by high tariffs. These pages represent a minor amount of inventory (15-20%) but the overwhelming majority of revenues. AdMediaPremium aims to market the locations of the second category – the many pages that have yet beautiful hearings – and the third category for pages that the depth of a site but are struggling to be marketed by the governed. These inventories are generally outsourced to brokers who sell to advertisers amid a flood of millions of other Web pages of any site. Logically, this vast inventory loses value.

"On the digital marketplace, there are two worlds: one specific, on which our advertising may practice is refocused on the speech marks, through special operations or video. The other world, the volume of highly qualified, is automated and marketing through market places. With our Adexchange, we will control both haute couture and ready-to-wear, "says Constance Benqué.

"It's because we want to enhance the premium character of our audience that we decided to launch AdMediaPremium. The four media partners are leading digital and provide coverage to 76% of AB +, "says Marianne Siproudhis, President of Amaury Media. "Our ambition is to represent by 2015, 25% of the market for auction banner ads. A market that weighs 200 million euros, "she explains.

"We are convinced that the French media groups must come together around this project deal with world leaders," says Martine Hollinger, president of TF1 Advertising.

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• Why the French Rugby Federation (FFR) she wants to have its own stadium?

Like the FA with Twickenham Rugby, the FFR wants to have its own sports arena in order to control the revenue generated by the sport. This is not the case today. Indeed, as part of an agreement that binds the Stade de France since 1998, and until 2013, the FFR plays its games in the Six Nations tournament in the home stadium of La Plaine Saint-Denis, as well as a part of his tour matches. Which implies to comply with a timetable and costs a lot of money: 400,000 euros per game.

Moreover, the federation does not take advantage of significant economic benefits, such as revenue from the operation of the lodges or advertising space, returning to the consortium of Stade de France. In total, between 1998 and 2008, the federation estimated 160 million shortfall. "It's an entrepreneurial logic on the part of the FFR, which aims to develop its own production, explains Stéphane Raffalli, deputy mayor of Ris-Orangis and carrying a project site. Unlike football, ticket revenues are crucial to the development of rugby. " A connection that confirms Serge Blanco, vice president of the FFR in charge of the project, and believes that the future stadium will include "recover monies, and to distribute differently between amateur and professional" * ….. …

• What are the characteristics of the speaker?

It will have about 82,000 seats. To avoid the trap of "white elephant" (these stages abandoned or operating only a few days per year), the federation wants a multifunctional enclosure. Like the Stade de France, which receives about fifty events each year, the future new stadium will be able to accommodate sporting events as well as concerts, fairs, conferences, trade shows … Another priority of the project: the retractable roof (which should avoid any disappointments such as the cancellation of the France-Ireland 11 February), and the lawn removable for holding non-sporting events. Finally, it asks the candidate sites a footprint of at least 15 acres, good access and control over land.

• How much will it cost?

The estimated cost for this stage of the fifth generation of 600 million euros. A budget of size: for example the future stage of the Enlightenment of Olympique Lyonnais, will cost 450 million euros to 60,000 seats. The FFR will bring between 150 and 200 million euros. The remaining funding will come from private partners, led by the assumptions used in naming (a practice for a brand to give his name to a sports arena). The federation wants a first opening of the new stadium grandstands in 2017, later than in 2018, a depreciation of equipment in 2024.

• Where the stadium will be built there?

Two candidate sites are still in contention: and. The design of the new stadium remains the prerogative of the FFR, which will select architects. In turn, sites must "lend credibility to the project perimeter around a living" explains Stéphane Raffalli. Sales events, accessibility, presence of businesses, green spaces, leisure village: the proposals are to develop multiple sites. The main difference is in the current environment. At Orly Thiais, we put forward a site of 55 hectares, "that already works."  

The site Thiais-Orly, also a candidate.

An overwhelming majority of Germans opposed the new plan of aid to Greece, considered the Rhine as a "bottomless pit": 62% were against while 33% are in favor of the second package, according to a survey of Bild am Sonntag. But Angela Merkel is assured of getting a solid "yes" of members of the Bundestag on Monday. However, the majority of the Chancellor will maintain pressure to deny any increase in the German bill, while the finance minister, Wolfgang Schäuble, no longer excludes a third bailout.

For the seventh time in less than two years, 620 members of the Lower House of Parliament shall meet in extraordinary session to give the green light at the European level against the debt crisis. Each time, Merkel has to struggle to gather behind his own majority. German lawmakers must approve by a large majority a motion detailing the decisions taken in Brussels a week earlier by the Eurogroup, essentially a second aid package of 130 billion euros to Greece. Germany's share is $ 35 billion.

Incentives for a withdrawal of Greece from the euro area

There is no guarantee the success of the second plan, according to Wolfgang Schäuble, who does not dismiss the idea of ​​a new bailout program in the coming years. "We can not say with certainty that the path taken will be successful. It is also possible that this is not the last time that the German Parliament will have to consider financial assistance to Greece, he wrote in a letter to parliamentarians, urging them to approve the bailout plan in Athens. Because I am convinced that this is the track I require your support for this plan. "

For the first time this weekend, a member of the German government has called for an output of Greece in the euro area. "I do not mean to exclude the Grècede the euro area, assured the Minister of the Interior, the Bavarian conservative Hans-Peter Friedrich, but to succeed in creating incentives for a withdrawal that can not be broken." It considered "the greatest chances of Greece to regenerate outside the Economic and Monetary Union." The observers will scrutinize closely the number of rebels in the majority of the Chancellor. Considering that this is the least damaging solutions, many elected officials should vote the plan rather ungraciously.

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CNP Assurances, the French champion of savings, is preparing to turn a page. That of the fourteen executive Gilles Benoist, whose term expires on June 7, at the general meeting of the group. The board should appoint a successor by then, probably in April.

Both candidates are friends of the house is officially reported to the nominating committee: Antoine Lissowski, CFO of NOC, supported by Gilles Benoist, and Augustin de Romanet, the CEO of the Caisse des Depots, parent company of CNP, which term ends on March 7. Banquy Didier, chief of staff Baroin at Bercy, have also expressed strong interest in a few weeks ago. In parallel, the Presidency of the insurance company will also be renewed. Edmond Alphandery wishes to maintain this position, but it could be countered by projects Michel Bouvard. The current Chairman of the Supervisory Board of Caisse des Depots et de Savoie MP is not standing for parliamentary elections and running for office. The question is whether a parallel appointment of two directors of the Caisse des Depots would be accepted.

Expand distribution

Whatever the identity of the future direction, it must address major challenges. The model of NPC, sitting on a rule of life insurance in France is slowing. In 2011, the turnover of the institution fell by 7.1%, to 30 billion euros, after a year of stagnation in 2010. Savings activities have plunged 13.4%, sealed by the difficulties of life insurance in France and Italy. This decrease was partially offset by an increase in retirement activities (17 payday loans.7%) and pensions (11%). In the end, the institution made a profit, down 17% from 872 million euros, affected by provisions in Greece and financial market volatility. "Most of these shocks has been absorbed by the insured, due to a lower rate of participation in profits", said Gilles Benoist, the Director General. Most life insurance contracts provides that losses as gains in the markets are passed on to policyholders.

Gilles Benoist has already begun a broad effort to diversify business (retirement, pension, loan …) and geographic markets in its group. International operations, excluding France, and the end of 2010 represented 37% of gross operating profit of the company. Today, products of CNP are distributed through the networks of La Banque Postale and the Savings Banks. These trade agreements, completed an equity investment, which run until 2015, can be discussed again this year.

The priority for CNP Assurances is now expanding its distribution channels. The company is therefore exploring the opportunity to partner with a third partner. Several schemes, still very early, are being studied. They would favor, according to our information, the card mutual, with reflections on networks and Groupama Covéa (GMF, Maaf, MMA).

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The FIP and FCPI no longer as successful … These funds were nevertheless supposed to attract the savings of the French and use it to finance long-term SME unlisted. A long-term investment (eight to ten years), illiquid, without capital guarantee but with a … boutique tax: a reduction in ISF or income tax, as desired.

But last year, this core was not enough tax. For the first time since 2006, investment funds and local mutual funds in innovation have collected less than a billion euros, according to preliminary figures compiled by Capital Finance. "Overall, the devices that qualify for a reduction of income tax have seen their collection collapse of 27%. Those that reduce the TFR fared better: subscriptions declined only 12% to 15%, "notes Fabrice Imbault, executive vice president of A Plus Finance.

The climate crisis probably did not last year prompted investors to invest long term, nor to take risks. The radius défiscalisants investments, they also often preferred "investment Scellier, whose death was announced," notes Fabrice Imbault.

The plane of the tax has been

But professionals also designate another fault: the movement of the plane tax, which last year was reduced by 25% to 22% reduction of income tax granted for these products. However, the rate granted in 2012 has shrunk 18% only. Will it be sufficient to compensate in the eyes of policyholders, the investment risks and constraints, there will be sufficient to continue to attract subscriptions? The stakes are high, when many small businesses are afraid to have more difficulty obtaining bank loans and seek more stable funding.

More and more management companies adjust their strategy in any case. They are moving away from FIP and FCIC, whose management constraints (imposed by the state in exchange for tax benefits) they seem to become too heavy. And are more interested in venture capital funds (mutual funds, venture capital). More confidential funds, reserved for wealthy investors who do not seek a tax cut, but want to diversify their assets on SMEs, in the hope of good performances. "Many subscribers are themselves leaders or former leaders of society, and ready to accompany young dynamic SMEs that develop," says Foucault Delannoy, associate Cape Horn Invest.

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Nathalie Kosciusko-Morizet unveils the contents of the interim report released today on Nuclear Safety.

The FIGARO. – The agreement between the PS and the Greens provides the closing of 24 nuclear reactors by 2025 if elected president Francois Hollande. What do you think?

Nathalie Kosciusko-Morizet. – Is the culmination of an absurd kind of negotiation, "a reactor against a constituency." Conventional wisdom says that does not mix the cabbage and carrots. Contrary to their denials, that's exactly what the Greens and the PS. This is not serious about the nuclear issue but it is a fundamental problem for all subjects, a method that has been seen at work in 1997-2002. The program of the Socialist Party does not contain anything about the environment, it subcontracts these questions to the Greens who, themselves, pursue political goals payday loans with no fax.While a tsunami can occur at Fessenheim in Alsace, imagine how to react in a situation of utter devastation, whatever the causes, natural or human, as a result of a terrorist attack, for example. IRSN proposes to determine the list of essential safety equipment of a reactor which must be "overprotected." An example: sand filters, which, in case of accidents, prevent the spread of radioactive cesium in the environment, could be consolidated. These measures will likely assume additional investment. Again, the economy should not limit the collateral.

Lovers of trekking in the Sahara desert sores will go their way. The tour operator Voyageurs du Monde (Nomad, Terdav), specializing in custom travel and adventure, closed end of 2010 all its destinations in Algeria, Mauritania, Mali, Libya and Niger. Because of the very uncertain political climate in these countries (historically 3% of sales), the group "does not plan to reopen until at least two or three years, unfortunately," warns Lionel Habasque, Executive Director.

So, the tour operator sells proportionately more trips to the United States, its first destination (6.7% of sales in the first half), Italy (4.3%) and Vietnam (3.7%). However, the weight of Morocco (3.4%) and especially Egypt (3.2%) melted over the last year.The brochure Israel-Palestine, launched a year ago, has attracted 800 customers, 2 million euros in turnover.

Last year, Voyageurs du Monde has 130,000 people travel, having to afford a vacation cost between 1500 euros (Terdav) and 2200 euros (Voyageurs du Monde). This year, they should be more numerous, and their average spending unchanged.

Since September, the backlog for this winter is stable. In the first half, Voyageurs du Monde recorded a turnover of 101.5 million euros (3.60%), and a net loss of 3.2 million (- 1.9 million a year earlier) . "We are structurally deficient in the first half because we support 50% of charges with only 40% of our annual," says Alain Capestan, Executive Director.If prognostic already year 2012 "difficult", it aims for 2011 an increase of 2 to 4% of sales, operating income stable, but net income declined, mainly because of differences currency movements.

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29.9 billion euros. This is the minimum cost per year, calculated by the Institute of the company, the sixteen main proposals of the socialist program and François Hollande for the presidency in 2012.

Measures François Hollande

The Institute has calculated the company eight measures developed by the Socialist candidate in the primary. First, the creation of 12,000 teaching positions per year, or 60,000 on the five-year term. This would cost 360 million euros per year, cumulative $ 1.8 billion in 2017. "These new posts create an implicit debt to the State, which undertakes to pay the pensions of these agents when they reach retirement age," says the Institute. The rating is saltier contracts for generation, exempting charges for three years as a young recruit companies while maintaining a senior job.This measure, the five-year cumulative, burden on public finances from 30.5 to 33 billion.

Another strong measure: the extension of the RSA under 25 years of activity without preconditions. The Enterprise Institute estimates that 120,000 to 200,000 young people could be affected, which would represent an annual cost of 528 to 876,000,000. With "a serious risk of imprisonment in a youth inactivity trap and a significant risk of fraud", the RSA representative "70% of the money diverted to family allowance." The Institute also estimated the cost of the massive development of renewable energy and reducing from 75 to 50% of the nuclear power generation by 2025. The bill? 10.9 billion a year.If this effort can reduce French imports of energy, it will be "on the other hand a negative effect on the purchasing power of households, through the rising cost of energy bills," warns the IDE.

The measures of the Socialist Party

Winner of the primary, Francois Hollande has not yet specified what action the program he intended to resume the PS no fax payday loans. The Institute has calculated the company in the main. The establishment of a public early childhood, a key measure of the project would cost between 4.5 and 5 billion per year. Half the budget of the justice! The bulk of the bill would come from the creation of 360,000 childcare places (3.8 billion per year … just by operating costs), welcoming children from 2 years to kindergarten cost him, by 720 million year.Much controversy as the assistant accused of favoring the creation of a study allowance for trainees is paradoxically less expensive. The Institute's $ 1.3 billion per year. The reason? This new allowance would replace other aid, and especially young people concerned only with limited resources. The bill would particularly high, however (9.6 billion per year), if the allowance was extended to all students, warns the Institute.

In a more traditional vein, the PS promotes the appreciation of the disabled adult allowance (AAH) and better care for older people, through the personal autonomy allowance (APA).According to the Institute, which takes the hypothesis of a revaluation of these allowances by 20% over five years, the AAH would cost $ 1.7 to $ 1.9 billion a year more, and the APA, 1, 5-2100000000.

Cell quantification of presidential projects, implemented by the Institute of the company, will now address the evaluation of the revenue side of the PS program. The question is whether Francois Hollande planned 30 billion of resources to balance its balance sheet. Last outstanding issue: the institute did not look back on the pension reform, suggested by the PS but never clearly put on the table by François Hollande. If this were the case, the encryption would rise much faster.