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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.

1. COMMON AGRICULTURAL POLICY

A new CAP will enter into force in 2014. It is the subject of heated debate between the 27 Member States. Maintaining the EU budget – about 50 billion euros to support agricultural production and ensure food self-sufficiency – is now accepted. However, how to use this envelope to be defined. France, the first European agricultural power, receives about 10 billion euros per year.

WHAT THEY OFFER

The UMP wants to extend the measures of market regulation, such as those taken to better organize the dairy industry; together, producers can negotiate better prices facing manufacturers. The PS defends "an ambitious EU budget for the future of agriculture in its diversity". Only FN advocates the abandonment of the CAP for the benefit of … the PAF (French agricultural policy), to "distribute aid more precisely between small and large farm structures."

2. RELATIONS WITH THE RETAIL

80% of agricultural products are now sold through supermarkets. Farmers accuse him to capture the essence of the value added to their detriment. In 2000, for example, 45.1% of the retail price of a pork cutlet returned to the breeder, against 39% for mass distribution. Ten years later, the distribution was reversed in favor of the latter: it is now capturing more than half of the value against the third party only for breeders. Another example, a kilo of pears bought 17 cents to the grower retails for 3.50 euros.

WHAT THEY OFFER

To restore the balance of power among branches facing the retail, the PSet MoDemproposent solutions close: consolidation of producers in influential organizations, sustainability of existing tools such as "margin observatory." The UMPveut expand contracting, binding in milk, meat to all branches, fruits and vegetables … The FNveut review the competition law to protect farmers against abuse of dominance of supermarkets.

3. ENVIRONMENT

Farmers complain: their eyes, France is overzealous in transposing EU environmental standards. They demand a relaxation of constraints. Especially since the new CAP in 2014 provides a "greening" of aid, that is to say that the amount will depend less on the quantities produced, and more respect for the environment.

WHAT THEY OFFER

The modem wants to reduce and simplify administrative procedures such as to produce energy by anaerobic digestion. Where it takes three months to install a system in Germany, it takes three years in France. The PS wants to develop organic agriculture in France which represents only 3.1% of cultivated land and encourage short circuits, without detailing how. The UMP wants better dialogue between farmers and environmentalists, again without more concrete.

4. USE AND INSTALLATION OF YOUNG

Agriculture and food industry in France are 3.5 million jobs or 14% of the workforce. However, farm organizations denounced a crippling cost of labor for France, which has lost market share to international competitors from Europe, particularly Germany – the hourly cost of a seasonal employee is 50% less high. Approximately 7,000 young farmers set a year, including 5000 helped.

WHAT THEY OFFER

The UMP is to continue to reduce the cost of permanent agricultural employees, as outgoing majority has done for seasonal, whose hourly cost from 12 euros to just over 9. It relies on social VAT to get there. The UMP also has to keep the budget of 350 million euros of aid to the installation. For PS, there is no problem of the cost of agricultural labor. The FN promises an exemption five years of tax and social security of agricultural enterprises, without saying how it will be funded. The modem wants to establish a minimum area for installation.

5. UNIONISM FARM

The National Federation of Farmers' Unions (FNSEA), combined with Young Farmers, prevails over a half century and controls all farming institutions and organizations inter. The milk strike of 2009 has strengthened the two minority unions: the Rural Coordination and the Farmers' Confederation. They could lose its absolute majority in the FNSEA in the upcoming elections to the Chambers of Agriculture in early 2013. Bruno Le Maire was the first political right to go to their conventions. The Board of Directors of the FNSEA voted by a large majority to minority yesterday the opening of all inter-farm where she sat alone. The report also alleges Perruchot "possible hidden subsidies" enjoyed by unions from the Chambers of Agriculture, themselves financed by a tax.

WHAT THEY OFFER

UMP, PS and MoDem are unanimous in advocating trade union pluralism. Little to say and all the funding organizations.

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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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For the third consecutive month, foreign direct investment in China fell in January, dropping 0.3% over one year to 10 billion. "The situation in foreign investment is relatively poor," was concerned the spokesman for the Chinese Ministry of Commerce, Shen Danyang, during a press conference Thursday.

"The uncertainties surrounding the global economy continue to grow, the restructuring of global industry slows, and growth of foreign direct investment is low everywhere," he said adding that the slowdown Growth in China – to 8.4% in 2012, against 9.2% last year according to analysts – also had an impact on foreign investment in the country.

Other negative effects on investment: the multiplication of social conflicts in several factories in recent months and rising production costs, particularly related to higher wages. 

According to a study released Wednesday by the U.S. Chamber of Commerce in Shanghai, over 90% of the 300 companies surveyed said that "rising costs of labor and materials are a serious blow to business and challenge the competitive advantages of China ".

Construction of Shanghai Disneyland

The vast majority of foreign direct investment in China come from East Asia-Japan, South Korea, Taiwan, Hong Kong and ASEAN countries-, up 0 saving account payday loan.8% yoy, to $ 8.6 billion .

Investment from the U.S. rose 29% to $ 342 million – partly because "the arrival of capital for the construction of Shanghai Disneyland, whose work began last year," said Shen Danyang. 

Those from Europe for their part, fell sharply from 42.5% to $ 452 million, compared to January 2010, European companies, leaded by the debt crisis, have drastically reduced their spending.

According to Hervé Lievore, economist at AXA Investment Managers in Hong Kong, "the prudence of European companies is hardly surprising when financing conditions deteriorate in Europe." For Ting Lu, economist at Bank of America-Merrill Lynch in Hong Kong, this decline in investment should be temporary predicting "a massive return of investors attracted by the exceptional growth rates in China as soon as the global economy stabilizes" .

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Social cuts and austerity measures provoke social unrest throughout the Iberian Peninsula. In Spain, the reform of the labor market, adopted Friday by decree, has attracted a first wave of spontaneous protest. In Portugal, it is the application of the rescue plan that creates a massive mobilization.

At the Puerta del Sol of Madrid, hundreds of people gathered Friday night to protest against the reform. Described as "historic" by the Conservative government of Mariano Rajoy, the decree is the latest attempt by Madrid halting the advance of unemployment, which seems unstoppable. At 22.85% of the workforce, the Spanish rate has broken all records in the industrialized world.

The Executive intends to promote employment by making IDUs more attractive. In addition to some tax incentives, the reform lowers the costs of layoffs and wage cuts authorize unilateral when the company through a bad patch.

General strike on hold

The event on Friday, unauthorized, has been dissolved violently by police as the protesters approached the Parliament. Unions, criticized by protesters who think they are too timid, were not represented Puerta del Sol. Comisiones Obreras (CCOO) and Union General de Trabajadores (UGT) intend to channel anger Social next Sunday: a "general mobilization" was convened and processions will be organized throughout Spain. The possibility of a general strike, it remains outstanding.

In Portugal, the mobilization has already taken place. "The biggest demonstration in thirty years' 300,000 people gathered Saturday in Lisbon, according to the CGTP, the main union. In a long speech, the secretary general of the Central attacked both the troika (European Commission, ECB and IMF), responsible for monitoring the implementation of the bailout, and the government, accused of submission. Many times Arménio Carlos was interrupted by protesters when he cited the name of the Prime Minister, Pedro Passos Coelho. "Gatuno! Gatuno "(" Thief! "), The crowd chanted. Also put into question, the finance minister, accused of violating the "dignity" and "sovereignty" of the Portuguese. In an exchange with his German counterpart, Vitor Gaspar had thanked Berlin for accepting an "adjustment" of the financial plan.

Advocating a debt renegotiation, Carlos called for a higher minimum wage Portuguese, currently set at 485 euros gross. A new day of action is scheduled on February 29.

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In the midst of crisis, football clubs always brew as much money. In any case, as revealed by the Deloitte top 20 of European football clubs by revenue. For its 15th edition, the study "Football Money League" in fact reveals that the 20 richest clubs in the Old World have generated 4.4 billion euros in sales during the 2010/2011 season. This is 3% more than last season, and over a quarter of total market sales of European football. Nine of these clubs have seen their billings rise by more than 10% over the period, against only seven formations that had experienced a drop in their turnover. While these figures do not assume the financial health of clubs often heavily indebted, but reflect the ability of the persistent world of football to attract capital no fax payday loans.

OM, the club that generates more money

The overall ranking has no major upheaval (the top six ranking has not changed in four years). But the French league has experienced a revolution. Indeed, for the first time in seven years, Olympique de Marseille ranks first among French clubs. With 150.4 million euros in turnover in 2010/2010, the club OM (7 million, the 14th in the standings) delights the trophy to his rival Lyons. Recording only 132.8 million in billings over the same period, Olympique Lyonnais (OL) forfeits three places, and now points to 17th.

In many clubs, the French championship in fifth and final figure up the "big five" European (behind England, Italy, Germany and Spain).

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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Lefigaro.fr – The gap between interest rates of French and German bonds this week hit levels not seen for 20 years (200 bp). French government bonds are they a safe investment?

Philippe Mimran – all depends what you mean by "safe." If this is the sense of repayable loan, the answer is yes. France is able to repay its debts. However, if the sense of an investment that does not generate short-term losses, the answer is no. In other words, the French government bonds are no longer as safe as German bonds. Financial markets expect interest rates continue to rise. This difference of 190 basis points is the same as that between Italian bonds and German bonds in July.The French bonds are more risky than a month ago, European banks sell massively.

Why?

The rules for accounting for government bonds in banks' balance sheets have changed. Until then, when a bank subscribed to an obligation of 100 million euros to 2.5%, it maintained that amount on its balance sheet and collected an annual coupon of 2.5%. And, regardless of the carrying amount of the obligation. Now, if the title is only worth 90 million euros, it instantly suffer a loss of 10%. The balance sheet of banks is affected. For secure, regulators require them to strengthen their capital.

Private companies have indeed created 110,000 net new jobs over the month (Articles Analysts had expected 100,000). ADP also revised up sharply the number of hires in September to 116,000.

The traditional weekly oil stocks should also be unveiled this afternoon.

On the foreign exchange market, the euro regained some strength, however, rising by 0 fast cash loans.83% in late morning at 1.3775 dollars. Shaken by the announcement of a referendum in Greece on the bailout, the euro fell to 1.3609 dollars Tuesday, its lowest level since Oct. 12.

New salvo of results

As for values, the banking sector that has suffered the consequences of yesterday's bounce in the euro zone, expected to focus attention.