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The crisis has changed the ranking of richest people worldwide. The twenty-fourth annual list prepared by Forbes magazine, published last night in the United States, and devotes the Mexican Carlos Slim as the richest man in the world with a fortune estimated at nearly 53.5 billion dollars. This is the first time since 1994 that a non-American held the top of the podium. The Mexican telecom tycoon saw his fortune grow by $ 18.5 billion last year to 53.5 billion, allowing it to anticipate a short head Bill Gates, the cofounder of Microsoft, which does is only the second man on the planet in terms of wealth, with – only – $ 53 billion portfolio payday loan . Warren Buffett, the legendary boss of the investment company Berkshire Hathaway, retrograde from second to third place.

After three sessions of gains, the U.S. markets have found equilibrium after having been driven for much of the meeting, with good statistics.

At the close, the Dow Jones ended down 0.09% at 10,397 points, the Nasdaq ended in perfect balance, to 2281 points while the S & P 500 ended with a tentative increase of 0.04% to 1119 points.

However, the U.S. private sector has destroyed 20,000 jobs in February, which represents the net number of redundancies, the lowest since the beginning of the fall in employment two years ago, according to the monthly survey released Wednesday by the cabinet ADP . This is consistent with the median consensus forecast of analysts.

And the destruction of jobs in the private sector in the United States have continued to slow in February, falling to their lowest level since the beginning of the fall in employment two years ago, according to ADP.And activity in services in the United States, which accelerated more than expected in February, to 53, its highest level in over a year.

But even if the austerity plan announced Wednesday by Greece reassured, "some fear that if Greece is doing, markets n'aillent look to other problem countries in Europe. This is something that must be taken into account throughout the year 2010, "Rick Meckler moderates of LibertyView Capital Management. At 18 hours, the Dow Jones gained 0.31% and 0.37% on Nasdaq.

Furthermore, the Beige Book Fed confirmed the scenario of slow growth in the United States in 2010.

Oil prices gained more than a dollar Wednesday, boosted by a bout of weakness in the dollar and signs of a rebound in consumption of fuels in the United States, even if otherwise crude stocks rose sharply last week.The barrel of Brent North Sea crude for April delivery gained 84 cents to 79.02 dollars compared to the closing price on the InterContinental Exchange (ICE) in London easy payday loans .

The euro goes off in higher Wednesday, supported by the austerity measures announced by Greece. The single currency back above the $ 1.37 dollar to 1.3727 (1.3%).

On the values front

At the close, the biggest capitailsations have lost some ground they had gained earlier in the meeting.

The maker of construction equipment Caterpillar took 0.76% to 58.59 dollars, the aluminum producer Alcoa 0.76% to 13.34 dollars and industrial conglomerate General Electric 0.88% to 16.04 dollars .

The title of the pharmaceutical company Pfizer has lost 1.65% to 17.31 dollars.e pharmaceutical group is preparing to launch a bid of nearly four billion dollars for the German manufacturer of generic drugs Ratiopharm GmbH, reported Wednesday several sources close to the situation. In its wake, are the values of health have weighed heavily on the trend.

The specialist mining equipment Joy Global has published forecasts welcomed by investors, as the climbing 5.85% to 54.51 dollars.

Group Title Barrick Gold Gold rose 1.75% to 40.16 dollars.

The title of the software company Novell has soared by 28%, to 6.08 dollars.The investment fund Elliott Associates offers to buy the entire group with an offer of 5.75 dollars per share in cash, for a total market capitalization of two billion dollars.

Costco Wholesale (-1.14% to 60.7 U.S. dollars) has reported a quarterly profit up supported by a resurgence of attendance. For its second quarter ended February 14, 2010, Costco posted a profit of $ 299 million, 67 cents per share, against 239 million, 55 cents per share, a year ago.

For better and for worse. The formula is devoted to marriages as a glove in Hong Kong. China, with its tremendous growth (10.7% last quarter 2009), certainly takes the resumption of the Special Administrative Region (SAR), politically subservient to Beijing but economically and financially independent. However, it also threatens to plunge the country into a spiral of overheating.

"The potential risk of forming bubbles is high," says Norman Chan, Executive Director of the Hong Kong Monetary Authority.

In China, prices are rising for several months now so excessive, and many experts are warning the country against the dangers of relapse.Mid-January, during the Asian Financial Forum, Dominique Strauss-Kahn, managing director of the International Monetary Fund (IMF) called for the establishment of measures of capital controls in Asia, stating: "Until is temporary, it probably only means to avoid the bubble shape. Beijing does nothing when the bank credit limit to 7.500 billion yuan (773 billion euros) in 2010, against 9590 billion yuan (966 billion) per annum penny.

"The Chinese spend freely"

The Government of Hong Kong is believed to be safe. But it was forgotten that the two powers "are linked by two-way interests perfectly understood one side or the other, as recalled Victor Visot, president of advisers of Foreign Trade of France.

The city is a work in progress."500 buildings out of earth each year, observes Edward Yau, Minister of Environment, pointing to the towers being built around his office. While height and meet new environmental standards, "says he, anxious to point out that 70% of the land remains wild.

Even 710,000 Hong Kong dollars (66 cash advance in one hour .700 Euros) per square meter for an apartment overlooking the sea, tearing programs like hotcakes. The mainland Chinese are the first customers of Hong Kong developers."All the establishement of Beijing and Shanghai, all top managers have a pied-à-terre here that they have or not a business, said Edward Leung, chief economist at the Hong Kong Trade Development Council. They are the ones who buy goods more expensive and they have that, unlike the financial crisis of 1997-1998, house prices do not collapse. "

They invest more easily than the Chinese authorities have allowed banks on the continent to settle in Hong Kong. In the luxury shops of the Central neighborhood, one recognizes immediately the Chinese in their Mandarin while everyone here speaks Cantonese. "They have money, they spend freely and today supply 60% of sales of major brands," said Victor Visot.

After declining 20% in fall 2008, housing prices soared again, observes Helen Chan, senior economist for the government.Especially in the high end, where they rose 30% in 2009, at the same time that transactions were exploding, driven by interest rates very low (0.5% base rate).

While "the risk of a bubble is not imminent," dithers Nomura specialist on site. But it is real enough that Hong Kong officials, while saying "do not control capital movements, consider taking administrative measures to curb overheating. As they did last October, raising the deposit on the most luxurious apartments.

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Electrolux is building on its capacity to innovate as with the washing machine with a function "steaming" it will launch this year payday loan lenders . Photo credits: DR

Reportedly, police officers went to the 1st and 2nd floors of the building located at Roissy where there are particular services management and staff. CCE Air France is at the heart of a financial scandal two weeks ago. An internal audit revealed in January 12 showed in handling the accounts and invoices which nature seems far from the object of a CEC. The audit begins by the "adjustments and prior period adjustments.These operations are likely to question the principle of matching income and expenses at the right time. "

Many people must be heard this week: the auditor of the company INA, which revealed significant shortcomings in the accounts, the auditor and Jean-Yves Quinquenel, head of the CEC transition responsible for facilitating the conduct of 'audit report and free credit score .

For its part, the CFDT-Air France and François Cabrera, whose management of the EAC is in question, talking in a tract of 25 January of a "cabal of destabilization" and indicated that "none of the parties involved, management of Air France, elected CCE, expert of the INA, auditors are not aware "of the launch last Thursday when the preliminary investigation by the financial police.

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Morale is not high on the Paris Stock Exchange in recent days and it should be so again Tuesday. After closing sharply lower Monday, markets are expected in the red today.: An hour of opening, the future Cac 40 lost 1.02% to 3782 points. The slump in Asian markets this morning gave a glimpse of what lies ahead for financial markets in Paris. In Asia, investors were not convinced by the rebound on Wall Street yesterday.

Among these, caution prevails until several important macroeconomic statistics across the Atlantic. Information should be filtered on the meeting of the Monetary Policy Committee of the Fed's on this Tuesday. There will be 15 hours the index of house prices (the day the markets had suffered a blow after the publication of resales in the United States that emerged in sharp decline from 16.7% in December).At 16 hours, will be revealed indices of consumer confidence and U.S. investors.

As for American publications, markets await the annual results from Yahoo! after market. It will also Texas Instruments, Johnson & Johnson and Dupont.

The Paris markets will also keep an eye on European statistics. We know the cost of household consumption in December (8.45), the construction of housing (8.45), the German IFO index (10 hours), the current accounts of the ECB (10 hours) and GDP in the fourth quarter in the United Kingdom (10.30).

The detailed values to follow shortly …

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While tourism remains weakened by the crisis, TUI AG is doing rather well. The German group published its results on Tuesday nine months, from January 1 to September 30. Boosted by gains from the sale of 43.3% owner of Hapag-Lloyd AG, net income was multiplied by ten. It stood at 401 million euros, against 45 million euros over the first nine months of 2008.

These figures will serve as the annual results for the year 2009. TUI rose on a year shifted from October 2009. "This positive development shows clearly that our tourism business is fundamentally healthy and that over time," said Michael Frenzel, CEO of the group, in a statement. The turnover, now entirely generated by tourism, but has slipped to 14% on a year to 13.1 billion euros.Subsidiaries TUI Travel (tours), TUI Hotels & Resorts (hotels and clubs) and TUI Cruises (cruises) have seen their business drop by 14%, 5% and 9% respectively. The weakness of the pound has also weighed.

Despite the difficult environment, operating income was up 5% to 696 million euros over the year amputated in 2009. And its evolution should remain "stable" for the current year, the statement said. Michael Frenzel is optimistic. The turnover and profits should start rising from 2010/2011, "if the economy recovers as expected.

More than six years after the arrest of Mikhail Khodorkovsky, head of the Russian Yukos oil empire carved up today, a judicial rebound with 100 billion dollars at stake Monday intervened in the case.

The tribunal in The Hague has made the November 30 "award" which theoretically opens the way for plaintiffs to claim damages from the Russian state in an amount estimated by them at 100 billion dollars.

The plaintiffs in this case are three former Yukos shareholders who held together a 60% share of the business booming in the early 2000s. Both are subsidiaries of GML (formerly Group Menatep): Hulley Enterprises and Yukos Universal and Veteran Petroleum Limited, a pension fund to finance the pensions of employees of Yukos.The complaint before the Judicial Arbitration international date from 2005, when Mikhail Khodorkovsky was arrested in October 2003, behind bars awaiting his first trial, when the empire began to be dismantled, primarily for the benefit of Rosneft oil company controlled by the Russian state.

An arbitration was a precedent for foreign firms

The court of arbitration has a strict disclosure policy, refused, late Monday afternoon to confirm the decision, which belongs to the parties. The Paris office of law firm Cleary Gottlieb Steen & Hamilton who defended the Russian Federation also declined comment.

The ad hoc arbitral tribunal composed of three arbitrators ruled on Monday its jurisdiction.A crucial step, says Mr. Emmanuel Gaillard, a lawyer for plaintiffs, director of international arbitration at Shearman & Sterling, "which set a precedent for all foreign energy companies, BP, Total and Shell are investing in Russia." According to Mr. Gaillard, Russia argued that GML could enter international justice. The court ruled that GML, based in Gibraltar, the pension funds in Cyprus and its subsidiaries (the one established in Cyprus and one in the Isle of Man), are foreign investors. As such, they are protected by the Treaty of the Energy Charter, adopted in 1994 by Russia. Moscow denies the value of this treaty that Russia has not ratified. In addition, the Kremlin believes that legacy text-1990s, intended to protect foreign investors and open energy markets, is formally out of the treaty last August.The court in The Hague has nonetheless held that the Treaty protects many foreign companies.

The legal showdown could last for years to come

"Russia should be aware of his actions before international justice," says Mr. Gaillard. The decision on Monday a document of some 200 pages – now opens the way for discussion of the case on the merits. The plaintiffs intend to show that they were expropriated without compensation and claim damages valued at some 100 billion dollars.

If they win the case, continue to enforce the award, inputting, where appropriate, assets of the Russian State around the world.The series could last for years to come.

Mikhail Khodorkovsky appears again

Meanwhile, the former richest man in Russia, Mikhail Khodorkovsky, appears before a court in Moscow since March 3, who is accused of embezzling more oil than is produced society. Arrested in October 2003, Mikhail Khodorkovsky, was sentenced at the first trial to nine years in a labor camp in Siberia for tax evasion.

Russian Prime Minister Vladimir Putin has confirmed if such were needed, last Friday during a meeting at Rambouillet with François Fillon, his rancor against the tenacious most famous prisoner in Russia who had political ambitions, in comparison to Al Capone .

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The Court of Auditors has published today its report on "the transfer to the regions transport train: mixed results and developments to continue." Verdict: TER now costs too much and it is not suitable for many lines in sub-activity. The institution of the Rue Cambon points to the lavish spending of regions purchase of rolling stock and operating costs too high for the station. The regions have spent 600 million euros since 2004 to renew their fleets TER. "They must be reasonable and proportioned more traffic to their efforts," said Philippe Séguin, the first President of the Court of Auditors. Investments can be a symbol of vitality but not necessarily needed. "The report also questions the effectiveness of operations by the SNCF and its inability to cut costs because of the status of railway workers.This induces a "surcharge of about 20 to 30%. "The SNCF is the sole interlocutor of the areas, said Philippe Séguin. This monopoly reduces the bargaining power of regions and do not push the operator to achieve productivity gains. "The average cost of a B in France is 17 euros per kilometer and train while it is only 11 euros in Germany.

According to the report, the TER has cost 2.7 billion euros to the regions in 2009. It represents an increasing share of their budget for an average load of trains by 26%. Lines and less crowded – or 7 800 km in France – do not see spending an average of ten trains per day. These figures conceal wide disparities: trains run empty in rural areas and off-peak while others are crowded into urban areas.

Carbon footprint

The Court of Auditors calls for the abandonment of certain lines in favor of the bus."The cost of the less frequented lines is too high for public finances," said Philippe Séguin. It is equivalent to the mile, the cost to use a private car. "The Court regrets that the" analytical accounts of the station "makes it difficult to choose between profitable routes and unprofitable lines.

Paradoxically, the use of the bus even improve the carbon footprint of TER. Today, 90% of lines are not electrified and diesel is half the energy consumed by the regional trains. "And most of the electrical energy is of thermal origin, explains Philippe Séguin. The carbon footprint of the TER is not favorable. "

The report of the Court of Auditors (pdf)

The ranking of colleges is a bit like the top 3 of world tennis: No. 1 (whether Federer in tennis or HEC in higher education) is rarely overthrown while the other two (Nadal and Djokovic or Essec and ESCP) shall be held in a handkerchief. The 2009 list of major business schools of Figaro (which this year 39 schools) did not mark a change from that of last year, the elite French business schools is its rank and maintains distance on its competitors . Things are moving instead in the top 8 because Euromed Management moved up one spot, placing themselves and now tied with Grenoble School of Management. It must be said that the school Marseille, which recently opened a campus in Marrakech, displays high ambition: to enter 2014 in the top 30 best business schools in Europe.The objectives of the school run by Bernard Belletante illustrate perfectly those of the schools' top of the basket ": international development. In this chapter, for the 2nd consecutive year, ESCP Europe, the five school campuses, is tied with ESSEC. Two points separate the total HEC.

Increase faculty

The prize for biggest jump back this year to the EM Strasbourg, winning seven seats and rose to 15th among major business schools, tied with ESCEM Tours-Poitiers. It is this leap particularly dramatic increase its faculty from 40 teacher-researchers in 2008 to 90 this year. Since the beginning, the Strasbourg institution also offers courses 100% bilingual English-French or Franco-German in the first year, reinforcing its image as an international school in the capital of Europe.Other progress to report, the Reims Management School, which accounts for three places better (9th).

New mastered

Conversely, some schools suffer declines in our ranking as the ESC Clermont, which gives 10 seats and settled into 29th position. It is true that many schools are entering this year and upset some hierarchies of mid-table. Include ISG Paris (39th), Advancia (31st), EDC Paris (36th) or CSEC (27th), who obtained the rank of master in 2009, awarded by the Helfer. The arrival of these two groups confirms the site – and merits – the model schools accessible after the tray. Number one in this category, IESEG consolidates its position in the top 20.The school, which won two seats, coming in 18th position, ahead of the ESC Lille, Rennes, or Dijon Troyes … Proof that schools in five years have earned their credentials.

Educational Initiatives

That leaves the ESC smaller in size, but regionally rooted, and that appeal to students seeking a coaching major and promotions reduced.Their educational initiatives are also assets, whether in the field of social responsibility and citizenship (humanitarian projects at ESC La Rochelle), disability (ESC Amiens) or Entrepreneurship (with Springboard Business at ESC Chambery). Whatever their size and position in the charts, however, these schools are judged by students and their parents on a single test in the coming months: their ability to integrate their promotions on a market l employment rather unfavorable for young graduates.

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