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"I walk in the countryside." Thus, Christine Lagarde, finance minister and declared candidate for the post of Director of the IMF, began his speech on Europe 1 radio on Sunday. Its stated goal: to convince all the emerging countries of the legitimacy of his candidacy. "These countries are worried. They want recognition and they feel frustration. They want a manager with universal and that is why I will introduce myself, "she said.

The minister will travel first to Brazil "because it is the first country invited me," she says. She will then visit the 'all emerging countries, notably China, India, some countries in Africa and the Middle East. Which will require it in his words to "make a lot of extra hour" because this campaign is done in conjunction with its agenda of Minister of Finance.While emphasizing the concept of universality, Christine Lagarde says she remains "deeply French and European. But in the context of these functions, you must be accountable to all of these 187 member countries. "

No fears for the record Tapie

Even if she repeats that "we should not count your chickens before they're hatched," the minister made a speech very assured, aware of the many clear support of the Europeans and Americans implied. "If I am elected, she says, I will leave the government because the two functions are incompatible." Asked about the name of his successor, the Minister nevertheless kicked into touch: "It's not for me to decide, but we have in our ranks many talents."

Christine Lagarde has also lingered long on the back Tapie, only shadow seemed to hover over his candidacy. "The file is empty," she repeated.She said the referral to the Court of Justice of the Republic by the Attorney General at the Court of Cassation, Jean-Louis Nadal, "is factually false and legally unfounded." "I chose the solution of arbitration in the case because I believed that Tapie was the least bad. A conviction was run a risk of 7 billion euros to the state. " For the future, the finance minister said to "really good confidence in the judiciary" and says she has "conscience".

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A symbolic handover and structuring. The U.S. site video rental Netflix, which distributes DVDs and subscription movies online, now generates its own 30% of U.S. Internet traffic during peak periods. Netflix is ​​the most voracious consumer of capacity on the fixed Internet, according to a study published by Sandvine, a specialist in the management of online traffic. On a full day, its share of traffic reached 22.2%. Netflix is ​​ahead and the sharing site BitTorrent files, a mecca for illegal downloading, which loses its position as the online service more greedy with 21.6% of traffic.

"Netflix is ​​now the undisputed king of bandwidth in North America," the study notes. For its authors, this rocker confirms that "we are now in the age of Internet video.""Customers have clearly adopted the online video service Netflix, fundamentally changing the Internet landscape," said Sandvine. And the change will be sustainable, development of mobile devices such as digital decoders and iPad like Roku and Boxee to make further use of Netflix in the U.S..

23.6 million subscribers

The break came quickly. During the previous wave of the study, published in autumn 2010, Netflix is ​​still picking up "only" 20.61% of Internet traffic during peak hours. Netflix, which has 23.6 million subscribers to its video service, has recruited 6.7 million over the past seven months.

The service, founded in 1997 by Marc Randolph and Reed Hastings, started in mail delivery of DVDs ordered online. Then he revolutionized the market in October 2010, introducing an Internet subscription only $ 7.99 per month.For this sum, the subscriber can consume an unlimited number of movies and TV shows to a PC or a TV connected to the Internet. In parallel, the department has stepped up agreements with U.S. television networks like HBO and AMC to access more content. Finally, Netflix is ​​a service automatically offered in the Apple TV set-top boxes.

Above all, the company has managed to win the TV show via video game consoles connected to the Internet. Thus, the PlayStation 3 and Xbox 360 are the first two modes of access to Netflix, used respectively by 31% and 25% of subscribers. The Nintendo Wii accounts for 11% of subscribers. In total, these three consoles represent 67% of subscriptions. They precede the PC, chosen by 19.55% of users.

Capped plans

Netflix subscribers who access the service through game consoles connected to "consume twice as much data" than other customers, also notes Sandvine. Similarly, the study estimates that a third of Xbox 360 connected to the United States are used to distribute movies rented from American society.

Faced with this abuse of traffic, Netflix has started making arrangements. Thus, it seeks to reduce by two thirds the bandwidth consumption in Canada, noting that much of its subscribers have Internet packages capped. Its share of Canadian traffic has increased from 13.5% to 5.7%, says Sandvine.

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The year 2011 began with disappointment for the departments. Any tax replacing the business tax is less profitable than expected. This is the contribution of value-added enterprises (CVAE), based on the value added generated annually by companies. Technically, the state, which has collected for the first time CVAE in 2010, will transfer to councils this year their share. So that elected officials can build their budgets, Bercy just sent to councils estimated income expected in 2011 CVAE. Knowing that this new tax contributes 15% of operating revenue departments.

Surprise, this estimate has proven often less simulations for the same revenue in 2011 conducted by Bercy in 2010, just months after the adoption of the reform."We do not yet have data from all departments but the trend is clear," they said in the Assembly of the departments of France.

Responsible

Seine-Saint-Denis provides a good example. "According to the simulations dating from 2010, we could expect to receive 196 million CVAE in 2011. In spring, the Department notified us that these revenues would be $ 177 million. That is 10% less! "Explains there be to the general council. Same thing in Loire-Atlantique, always CVAE revenues in 2011, "Estimating the spring of 2011 is 134 million while that of 2010 was 148 million," explains Bernard Gagnet, vice-president responsible for the General Administration Department. Department more rural, the Aisne was also affected: the estimated revenue for 2011 rose by 42.3 million by the end 2010 to 36,200,000 in April 2011.

At Bercy, it does not explain the difference.But we recall that the data sent in the spring are provisional. Businesses, unaccustomed to the new tax, have been delayed. Only 70% of tax CVAE of 2010 were available in the spring. They will all summer. It is at this point that Bercy communicate to departments the final amount of revenue CVAE 2011. "And these revenues should be final, to be generally higher than the spring forecast," says one to the department.

Time will tell if this prediction comes true. Anyway, this poor start has worried politicians. They know that if tax revenues are lower than those prevailing in 2011 before the reform of business tax, they will receive compensation funds. But the presidents of county councils, as mayor, do not depend on funding."Ultimately, the dynamic resource departments can only come from CVAE. This question is crucial, "says Jean-Pierre Balligand, MP PS of the Aisne. "Now, our revenues will be more related to the economic performance of firms, their ability to create value added. It's a good thing that will force us to responsible stewardship, "said Bruni Sido For its part, the UMP president of the General Council of Haute-Marne.

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The airlines benefit they "fuel surcharges", the taxes levied on air tickets depending on how the fuel prices to maintain their financial stability? While fuel prices soar, airlines are perhaps a little heavy hand on these adjustment variables.

Kerosene prices have not reached the heights of the summer of 2008. Indeed, its current price is 22% below their peaks at the time, according to Bloomberg. However, fuel surcharges companies exceed all records.

In early April, British Airways increased the amount of its overhead for the third time since the beginning of the year to 326 euros for a return long-haul business class and 191 euros in economy class.At Air France – which has also boosted its overall rates April 1 – the peak is reached: for a return flight on a journey of more than seven hours, she weighs 242 euros and 222 euros for a seven-hour flight while in 2008 the company had not been as severe vis-à-vis its passengers: the overload was then capped at 192 euros for a round trip on a journey of more than seven and 172 euro beyond.

According to the U.S. website bestfares.com devoted to travel, U.S. airlines are at least as eager, with loads of up to $ 420 for a round trip between the U.S. and Europe and even $ 580 US- U.S. and South America when in 2008 they did not exceed $ 390.Some consultants do not hesitate to speak of price increase in disguise, so that overloading should really reflect the evolution of fuel prices free credit report and score.

Reduction of flight plans

The energy bill has become the largest item of expenditure of airlines from and to personnel costs. The latter are desperate to cover their costs.

The president of the International Air Transport Association (IATA), Giovanni Bisignani, does not hide his concern: "It's a disaster. We tablions, earlier this year on an average price of a barrel of 96 dollars, but these projections were too optimistic. In an economy as fragile as today, it is impossible to pass on fuel surcharges to passengers.But that decision is up to each company, "he told The Tribune last week.

U.S. companies that have published these days their first quarter earnings plunge again: Delta Airlines posted a loss of $ 318 million when it had lost $ 256 million last year. American Airlines posted a loss of 436 million dollars against 505 million last year. According to the American Transport Association, U.S. airlines should have their fuel bill to increase by $ 3 billion more this year.

To face this new crisis, these majors have set up plans for "capacity reduction" that result in deletions of flights.Delta Airlines announced and a decrease of 4% of its flight schedule in the second half and, like its competitors, it leaves the aircraft in its fleet the most fuel-efficient.

Slipped into the 154 pages of the IMF paper, five lines attract attention, given the French context. "The risk exists that the electoral timetable in the United States, France and Japan and possibly elsewhere, may complicate the implementation of policies" to reduce deficits, says the institution of Washington. Institution led by Dominique Strauss-Kahn, a putative candidate for president in 2012 French …

"Experience shows that a divided Parliament or the impression of a weak political stability leads to poor execution plans aggressive fiscal consolidation," reads the report yet.Does this mean that the IMF is considering a change of government in France, and held that the right will make little effort to reduce the deficit before giving way to the left? Or that the Fund is betting on the absence of a clear majority? "It is especially typical example of arcane formula that emerges from the IMF, where every sentence is weighed by an army of technocrats before publication," quips a connoisseur of the institution cash advance.

Curiously, this passage of the document does not mention that Portugal has to appeal to the Fund in full political fog, with Parliament dissolved! "Behold the man who will lead the country's finances," headlined Tuesday local newspaper Correio da Manha popular with the photo on its front Poul Thomsen, head of the IMF mission to negotiate the plan of assistance Portugal, came in the wake of Lisbon.The Portuguese delegation welcomed with suspicion, as evidenced by this photo of a giant graffiti on the front page of Publico: "IMF, out!"

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This is not the form of real estate sales the most common. Figures from the Higher Council of Notaries, selling life, which provides that the purchaser pays an annuity to the seller, while the latter may continue to occupy the property it sells, even in decline for several years. According to the latest available statistics, notaries recorded 779 sales in 2009 Life in the provinces, that is to say 0.2% of transactions. Numbers declined sharply relative to those published in the 1990s: the number of lifetime would then exceed the threshold of 1500 or 0.7% of all sales. Moral restraint buyer betting somehow the death of the seller or unfortunate experiences of life such as signed by a notary with the former dean of the French … Calment French buyers have opted for more conventional transactions.

A revival

Yet in some regions, the Ile-de-France and Côte d'Azur in particular, selling life experiencing a resurgence. Some agencies specialize in the niche, and on the websites of real estate there are currently more than a hundred offers and much Paris to Nice. The quota is significantly lower in the north and east.

According to professionals, such sales may have several avantages.Pour the seller first, which can thus remain in place, pocketing most of the time part of the sale in fixed capital and the rest of the bunch as annuity. The annuity may also benefit from a tax reduction from 30% to 70% depending on the age of the seller.

For buyers the life is a way to buy a property hoping for a better price than the market.Real estate agents see it as a way to put property on the market that suffers from the shortage. Finally, selling life can be seen as a response to the problem of pensions and dependency by allowing seniors to live in their homes but are living better thanks to the additional income. These benefits would also not escape the government is currently seeking the expertise of solicitors on the record to revive the form.

Warranty too low

For if life is less common than before, also because the notaries prefer … to discourage sellers. "The purchaser is a kind of bet he can do a good deal. If in the end, it pays more than expected, it is part of the game The seller is not in this context, he wants to play and win get the right price for his property, "explains Pierre Lemée the Supreme Council of Notaries .Yet for him the procedure is not secure enough. "When selling well in life and that the purchaser, called debtor, dies, the burden of paying rent to the seller, the annuitant is transmitted to the heirs," he says. Heirs of the seller does not know and who are perhaps not creditworthy. If Débirentier can not ensure payment, the guarantee that the seller is not always sufficient. "The seller has no lien to recover its dues before other creditors. If the debtor is implementing a procedure for debt, the annuitant is featured on the list, the same rank as a banker, "says the lawyer.Especially since the termination of the contract of life can be complicated.

Another drawback of the formula put forward by Pierre Lemée: the risk to the seller to be the victim of an "arrangement between friends," the purchaser pushing the owner to sign a life with knowledge of his fragile health. A notary has thus been removed pourune similar case in La Baule, Loire-Atlantique.

Given these uncertainties, preference goes to the Pierre Lemée reverse mortgage. Founded in 2006, this formula also allows the owner of a property to obtain resources without having to sell it. The owner can get this loan from a credit institution and choose to collect the money as a lump sum or an annuity. The refund is the death of the borrower, the sale of the property, or earlier if the owner decides to leave her home.If the sale price exceeds the debt, the heirs recover the balance. Otherwise, however, the debt is not spread. The latter may also prefer to repay the loan and keep the property at the estate. A less risky.

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"New ideas for life

"New reasons to focus on life

The strikers French ports do not let go until Tuesday at least. It is the day chosen by the National Federation of Ports and Docks CGT (CGT FNPD) to meet in Paris secretaries general of the port unions fifty members. The latter will discuss what action to take in the strike that affects the major French ports.

Since Friday, stops alternating between dockworkers and port agents strongly disrupt the activity. In Nantes / Saint-Nazaire, no activity is expected on or near the terminals until Tuesday at 6:00.

This Sunday, the movement continues for the third consecutive day. Saturday at Nantes / Saint-Nazaire, seven ships were stranded at the dock and twelve offshore. In Fos, freight traffic was disrupted at the level of 80-90% this weekend, while at Marseille-East, he was paralyzed at 100% for containers.Daniel Manca, secretary general of the CGT Dockers port calls even cruise lines to "avoid Marseille. At Havre, the second French port, the movement also continued, including blocking container terminals.

The strike could also cross borders. The International Dockworkers Council (IDC), which includes unions of longshoremen and officials in European ports, is calling on its members to join the French movement by "solidarity." "First, it means refusing to deal with hijacked ships to French ports payday loans. It is also very important for you to show your solidarity by sending letters of support and condemnation for employers and the government, "reads a letter in the union dock workers at Le Havre.

Early departures

The strikers are mobilizing to defend their right to retire early in retirement under the hardship.CGT ports and docks wants to validate an agreement on the recognition of the harshness found in late October with employers' organizations, which would allow retirement four to five years before the legal age for port workers 5-6000 with funding based on the branch but also from public funds.

For its part, the government calls for a resumption of negotiations "within the framework defined by the Act of November 2010 on pension reform, which would reduce to two years in advance of departures. Thus, fewer people would be affected.

For Jeremy Julian, Deputy Secretary General of the CGT dock in Le Havre, it is "incredible back on virtually everything that was granted." Serge COUTOUR warns: "The mobilization is still to go. We try to drown us in the case of pensions, while our case was completely offline for two years. "

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French justice had the heaviest hand for the former boss of Vivendi, Jean-Marie Messier, his American counterpart, which had acquitted a year ago. After eight years of investigation and trial on one of the most sensational bankruptcies in recent years in France, the court ruled on Friday, the fate of Jean-Marie Messier, spent two years at the helm of the General Waters, he transformed into a giant media and led to the near-bankruptcy in 2002.

This icon of French capitalism in the early 2000s has indeed been sentenced this afternoon to a term of three years suspended sentence for "spreading false or misleading information" about the financial health of the group, and "abuse of social good. " It also scoop a fine of 150,000 euros, and shall indemnify dozens of small shareholders of Vivendi cheated by the rout of the telecommunications group.It was however acquitted of the third charge, "price manipulation" of Vivendi. He has already indicated through his lawyer that he will challenge this decision on appeal.

Behavior "prestidigiteur debt"

"Jean-Marie Messier has adopted towards the market behavior of real 'magician debt' behavior that could at most be detected by analysts and financial professionals (…) but certainly not by individual shareholders, which this communication was also addressed and which could only be deceived by its abbreviated and misleading, "reads the ruling.

Justice did not spare the closest collaborators of Jean-Marie Messier. Edgar Bronfman Jr., chief executive of Warner, was sentenced to fifteen months suspended sentence and five million euro fine for insider trading.His former right hand man and chief financial officer of Vivendi Universal, Guillaume Hannezo, was handed his side a penalty of 15 months suspended sentence and a fine of 850,000 euros free online credit report. Eric Licoys finally, former deputy director general of the group, was sentenced to six months suspended sentence.

Messier admits mistakes but no offense

Jean-Marie Messier has already indicated through his lawyer that he will challenge this decision on appeal. He admits indeed have made mistakes but no offense. The former boss, 54, and grants, the Wall Street Journal: "I was young, I've said too much and I became a symbol." Whatever the Horns of Canal + J6M nicknamed (for Jean Marie Messier, Myself Master of the World) even regretted his "arrogance" at the time. But beyond its mismanagement, Jean-Marie Messier also challenges a softer environment.He recalled that the bursting of the dotcom bubble and September 11 were particularly devastating for the values of the new economy traded.

He especially insists he did not deliberately sought to mislead analysts and shareholders. "Some of my decisions in the management proved wrong, but a fraud? Never, Never, never! "He says. And he points out the flaws in the file. The indictment for abuse of social good based on a negotiated golden parachute … but never touched. As for price manipulation, it acknowledges the massive purchase of Vivendi shares after the attacks of Sept. 11, but in order to protect the business speculators.His defense has also appeared for a time be satisfied that the prosecution had asked for his release, believing that he did not deliberately sought to mislead analysts and shareholders.

The association of small shareholders assets (APPAC), a civil trial, was on his side on Friday welcomed the "great victory for French justice, up to the expectations of shareholders."

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Fimalac wants afford Accor Casinos. Accor, which still holds 49% share of Casino Lucien Barriere, came under discussion with the holding company Fimalac, announced the holding company and the giant hotel, confirming information Wansquare. "If the talks succeed, Fimalac inform the market with a new release," said the holding company of French businessman Marc Ladreit de Lacharriere.

Neither group has characterized these negotiations exclusive.

Accor thus remained in the process, begun there On several months of separating from its casinos Lucien Barriere. Last October, there was talk that the casino operator is introduced in Exchange, but Accor has canceled the operation less than 48 hours before the first quotations. Explanation: The lack of investor interest.The number one casino in France, also owns luxury hotels like Le Fouquet's in Paris, would indeed have been valued below the proposed price range (from 575 to 702,000,000 euros), which was too little for Accor.

Following this failure, the casino operator did not document-Accor maintained that all options were "reopened", including finding investors. However, management prefers Barrier IPO (IPO). This could suggest a new attempt in 2011.

A price around 550 million euros

According to our information, "it would seem reasonable that it is fastened below the price the IPO at around 550 million euros." Even if the purchase price is modest for Accor, "is clearly positive in terms of perception management," said one trader in Paris.

Fimalac, which include 60% owner of the rating agency Fitch, could then finance the acquisition entirely on equity, because it currently has net cash of 261 million euros.

In the 2009/2010 financial year ended September 30, Fimalac has reported a net profit of 30 million euros (+36.4%) for a turnover of 608.9 million euros ( +8.8%).

The group recently acquired the company Vega, French leader operating rooms dedicated to entertainment, sports and events and economic events. The company has notably orchestrated the return of Michel Polnareff in 2007 and is particularly associated with the operation of the Zenith of Rouen. He also holds 40% of Gilbert Coullier Productions, the leading French organization of shows for singers and comedians speaking.

Nothing works for casinos

The casino market has suffered tremendously, both from an economic crisis that has sealed the "entertainment budget" of the French and regulations become more stringent over time.

To distinguish itself from its competitors in the primary Socialist Manuel Valls one of his cards that 35 hours. Candidate said long-time deputy mayor of Evry therefore repeated Sunday that he had to "unlock" the legal working hours.Guest of Grand appointment 1/The Europe Parisien / Today in France, he was justified in pointing out in particular that in his eyes, "the 35-hour no longer exist as they have really been challenged gradually since 2002. "

"This should allow the French, for those who are fortunate to have a job, more work-two hours, three hours …- Without necessarily resorting to overtime that cost the state much, "said the candidate for the Socialist nomination for 2012:

Supporter of "work more and better," he hammered, "Is what you've seen a socialist who is now proposing to extend the 35 hours for example to all SMEs that were not affected by 35 hours? Is the world as it is today, with the competition we know we can afford to be on ideas of the 70, 80 and 90? No! This is my brand, we must go beyond the issue of 35 hours. " In 2012, "we can not go to the French with the same proposals, the same ideas the 35 hours, youth employment, in 1997.The world has changed so we too must change in our proposals, "Manuel Valls insisted, also favor the opening of negotiations between social partners to" raise wages. "

"Beyond the 35 hours," workhorse Valls

Critics Manuel Valls against 35 hours, however, are not new. In his book Power, published by Editions Stock in March, Valls violently attacked the measure that has "damaged the competitiveness of our economy.""Even if they have created employment, it must certainly exceed," he launched at the same moment on RTL, while the world calls "establishing a professional social security – what I call a flex-security – and redefining the working time and training throughout life. "

Implemented in the Jospin government by the current boss of the PS-Martine Aubry then Minister of Employment, the 35 hours is considered a social gain by Socialist leaders, who today put more heart in this issue political debate.

UMP side, the new secretary general of the UMP, Jean-Francois Cope, has reignited the debate about the end of 35 hours in mid-December announced a "reflection" on the subject, conducted by two Liberal MP and Novelli Chairman of the UMP group in the Senate, Gerard Longuet.But the government spokesman, Francois Baroin, as Labour Minister, Xavier Bertrand, have made a plea of receiving, considering that the government did not intend to reopen this debate.

Management side, the CGPME, resolutely hostile to the 35 hours, she also believes that the "problem" was "resolved" in small and medium enterprises and that this site should not be reopened.

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