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Olivier Cousin risk 40,000 euro fine. His crime: entering the word "Anjou Cabernet Franc" on simple organic table wines, the ones he produced in his area of ​​Martigné-Briand (Maine-et-Loire). Unbearable for an approach advocates the designation of origin (AOC) Anjou. They are however difficult to blame Olivier Cousin lack of attachment to their land. This strain Angevin, ecology freak, follower of harvesting by hand and horses love it so much because he refuses herbicides, sulfur and yeast. This is because the same AOC respected, he said, so little of nature (by allowing the addition of sugar and acid, even for the vintage enjoying a good climate!) He slammed the door, six years ago.

Las. Cousin may well sell organic wine at the best restaurants, the law is against it. "The AOC Anjou is protected by decree.We fight every day to defend our demarcated areas, "says Patrice Laurendeau, president of the Federation of Anjou wine. On the Internet, many blogs Cousin support and a petition was launched to the attention of the authorities.

The AOC, however, is not always the enemy of the bio. Throughout France, AOC wine producers there are already converted, along with other winemakers. From 2009 to 2010, the organic vineyard area has increased by 33%. As to represent 6.2% of the total area of ​​vines, and perhaps "10% in 2012," according to the Association of Independent Winegrowers France.

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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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The IMF Christine Lagarde would it become anti-globalization? Long, the subject is taboo: that globalization does not please everyone, it tends to increase inequality in rich countries, everyone sensed. But it was a lesser evil. Cons weighed in the balance somewhat, compared to the prowess of China, India or Brazil and the hundreds of millions of people out of poverty through free trade. "Globalization" as the Anglo-Americans, was an apotheosis for the IMF. Its original mission, and still relevant, is to eliminate protectionism and the specter of the Depression of the 1930s. Light of Sirius, all was well in the brave new world.

This good report is no longer appropriate. The IMF recognizes that since the "Great Recession" of 2008-2009, more than 200 million people are unemployed worldwide. A record.And three-quarters of the 30 million unemployed appeared in the "advanced" countries. However, the phenomenon looks durable.

The World Economic Outlook, which forecasts 2011-2012 were published last week, a special chapter devoted to "labor markets in advanced economies" and their structural changes. That is to take stock of two decades of globalization flawless. "Technological change and trade are as old as civilization," warns the Fund. But this time it's different. Strange coincidence, the revolution in information technology broke out when China, India and the countries of the former Soviet empire have joined the global market, which they were previously excluded.Overnight, shortly after 1990, the global employment has almost doubled to $ 3 billion.

The new communication technologies, including container transport, helped to internationalize production lines. One of the most eloquent symbol is provided by Apple's products are designed in California and assembled in China by Foxconn. Apple includes only about fifty thousand employees, researchers and managers, while the second largest global market capitalization, after Exxon. Less glamorous, Foxconn is working a million people.

25% of the United States would be "relocated"

These are the United States as a whole that work on this model, specializing in highly paid office jobs and relocating industrial production. The international division of labor has been entirely satisfactory in the first place."Until a decade ago, the effects of globalization on the distribution of wealth and jobs were safe," according to Professor Michael Spence, the IMF quotes extensively from the work instant credit report. The Nobel Prize in Economics notes that from 1990 to 2008, the U.S. managed to create 27 million jobs, keeping unemployment low. But 98% of these positions were offered by the sector working exclusively for the U.S. domestic market, including 10 million from government agencies and health. In contrast, industries whose products are exportable, "tradable", as the term of Michael Spence, did not increase their employment, except in highly skilled occupations. The biggest loser is the middle class, who was employed by the industry.According to Professor Alan Blinder, former number two of the Fed, 25% of all jobs in the United States would be "relocated".

This reconfiguration of the labor market was not prejudicial as the United States grew at a rate of 2.5% per annum. It became unbearable to the crisis, while the construction, public agencies and service companies hire less and less, even at low wages. The IMF notes that all the old industrialized countries are housed in the same boat. For his part, Michael Spence said the exception of Germany, "which has clearly failed to protect his employment in export industries when they were threatened." He noted also that the de-industrialization resulting in collective impoverishment.According to his calculations, the value added per employee increased from 72,000 to 80,000 dollars between 1990 and 2008 across the Atlantic in non-exporters, while it jumped from 79,000 to 120,000 dollars in industries working for the world market.

Globalization is certainly not a zero sum game in which emerging economies prosper at the expense of old nations. But within each country, certain social groups benefit while others suffer. IMF sees not only a factor of inequality, but also a drag on overall growth: by venting industries, which have much higher potential productivity service activities, the United States and Europe condemned to decline. Not wishing to embark on a highly political terrain, the IMF experts take shelter behind the recommendations of Professor Spence.They are twofold: win back lost industrial jobs by the middle class while practicing a specific social redistribution in favor of the victims of globalization clearly identified.

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François Gipouloux specialist in the Chinese economy and researcher at the Ecole des Hautes Etudes en Sciences Sociales (EHESS)

And two. Having poached in March, Laurent Joffrin of the co-chairmanship of Liberation to entrust the reins of Le Nouvel Observateur and the chief editor of news magazine, Perdriel Claude, the owner of the newspaper group, has hired Wednesday Nathalie Collin Co-Chair of the daily street ranger. Aged 46 years, the former boss of EMI France, who had joined Liberation in 2009, will assume his new duties in early August. Alongside Laurent Joffrin as co-chair of the board of the Nouvel Observateur, it will specifically support "strategy, development, partnerships and management." It will also be responsible for DG Debt Management Group, which also publishes Challenges and Sciences et Avenir. These two transfers decapitate the leadership of Liberation, in a situation remains fragile – the newspaper that has reached 200,000 euros profit in 2010.After considering an exchange of equity and industrial and commercial synergies with Le Nouvel Observateur, the newspaper is engaged since March in a plan to recapitalize nine million euros made by the group Colbert Land, of which 6 have already been paid. Edouard de Rothschild, chairman of the supervisory board and shareholder at 26% Payment at par with Colbert Land, must quickly find a successor to Nathalie Collin. In the entourage of the French businessman, is no secret that the revival of Libération is far from over. "There are still chapels, personal conflicts, with a very old organization. The newspaper still has room for improvement and optimization, "says one.

LE FIGARO. After Laurent Joffrin-Claude Perdriel, boss Le Nouvel Observateur, has poached the co-chair of Liberation, Nathalie Collin. Do you feel betrayed?

Edouard de Rothschild.The torque-Laurent Joffrin-Nathalie Collin has improved the content and quality of Liberation, but as a fellow shareholder and chairman of the supervisory board of the newspaper, I am a reproach to have left to buy social peace without reforming the business . This is an opportunity for liberation can modernize and reform the house, whether its organization, operation, management.

A few months ago, you were considering a merger with Le Nouvel Obs …

As a shareholder, I'm not political and I observe from a distance, but I find that a squabble between Le Nouvel Observateur and Liberation is sterile, unproductive, when primaries will play within the Socialist Party and where major substantive discussions will be held on the left.

Your strategy for liberation Will it change?

Le Nouvel Observateur is an aging institution.Today, a generation of readers is renewed. It is within this context that Nicolas Demorand joined Liberation as "publisher". A new "publisher" should be appointed shortly. We have some interesting candidates to succeed Nathan Collin. We will choose three to Bruno Ledoux, group Colbert Land, the daughter of Italian shareholder Carlo Caracciolo, and myself.

U.S. stock markets, should decline to open Monday. Futures on Standard & Poor's 500 and Nasdaq 100 recede by 2% to 1314.90 points and 2320.25 points to 2.06%. On Friday, the NYSE has closed down, yielding to concerns about debt Greek and dragged down by disappointing results considered in the distribution sector. The Dow Jones lost 0.74% to 12,512.04 points and the Nasdaq 0.71% 2803.32 points. For its part, the broader index Standard & Poor's 500 fell 0.77% to 1333.27 points.

Wall Street has been particularly impacted by the poor performance of the distribution sector, while groups of clothing Gap and Aeropostale have published results below expectations and disappointing forecasts.

At the same time the sovereign debt crisis in Europe should still produce their effects.On Friday, ratings agency Fitch Ratings lowered by three notches to note the long-term debt of Greece and warned it might lower it again in the coming months. At these fears have been added turning on negative outlook of the Italian debt by Standard & Poor's and the defeat of the Spanish government in local elections Sunday, while the country's fourth largest economy in the euro zone, has a social rebellion Unpublished.

On the foreign exchange market, the euro fell sharply against the dollar on Monday, falling below the $ 1.40 for the first time in over two months. About 11:00 am in Paris, the European single currency was worth 1.3982 dollars against 1.4155 dollars on Friday night. The oil prices were also down sharply penalized by the rising dollar.Around 24:00 in Paris, a barrel of Brent North Sea crude for July delivery traded at 109.34 dollars on the InterContinental Exchange (ICE) in London, dropping $ 3.05 from Friday's close. In electronic trade the New York Mercantile Exchange (Nymex), a barrel of light sweet crude (WTI) for the same period fell by 2.78 dollars to 97.32 dollars.

On the macroeconomic front there is no major indicator on the agenda of U.S. investors on Monday. The rest of the week will include more animated with new home sales tomorrow, as well as expenses and income of households, Michigan index, and promises of sales Friday.

Corporate results will also rare that week. Investors should remember, however, the publication of Applied Materials, Tuesday, and especially the speech that accompanies it.The group was downgraded by Goldman Sachs Friday because of a reduction in forecast request to the semiconductor industry. The same day, Compuware will also give his views on the changing demands of business and therefore on the strength of their investment in information technology. Specialist Wholesale, Costco is also expected and HJ Heinz. Finally, luxury will be honored, with Polo Ralph Lauren (Wednesday) and Tiffany & Co (Thursday).

The side of values, the U.S. group Fortune Brands continues to focus on liquor by selling its activities in the Gulf for $ 1.2 billion in cash, according to an advisory opinion Monday on the website of the U.S. stock market authorities. Fortune Brands had said last month that these activities, grouped in the Acushnet Company, had intended to leave the group.The acquirer is a special purpose company formed by the sporting goods company Fila Korea and Mirae Asset Investment Funds Private Equity. Fortune Brands plans to complete its focus on alcohol during the second half. It still needs to make it to split its business into the locks and fittings, Fortune Brands Home & Security, whose shares will be distributed to current shareholders of the conglomerate. Following these transactions, the group will be renamed Beam, in reference to its flagship brand, Jim Beam bourbon, whose roots date back to 1795. The future group Beam have in its portfolio of brands such as Maker's Mark (bourbon), Sauza (tequila), Courvoisier (cognac), Canadian Club (Canadian whiskey) and Teachers (Scotch whiskey).

For his part, Foxconn Technology Group has suspended production at its Chinese plant in Chengdu, which produces iPad2 including Apple, following an explosion.Also according to Reuters, Apple will launch a streaming service and storage online music, having concluded agreements with Warner Music Group (WMG), EMI Group and Sony Music Entertainment.

Marvell Technology has announced an investment of $ 200 million to Israel for accelerated research and development of key technologies in the field of mobile communications.

Pfizer received U.S. regulatory approval of the drug (FDA) on Sutent (sunitinib malate) for treatment of certain rare types of pancreatic cancer.

Sears Holdings has announced the resignation of its chief financial officer Michael Collins. William Phelan, vice president and in charge of management control, will temporarily replace it.

The professional social network LinkedIn, should still be under the spotlight after his triumphal entry into the stock market last Thursday.

A year almost to the day of the "flash crash" where the Dow Jones had lost hundreds of points in a record time, commodity prices seem to have met a similar fate Thursday. A replay of the dollar precipitated a plunge in oil prices and a correction of all raw materials, the most since the 2008 financial crisis.

Originally, the speech of Jean-Claude Trichet, ECB president, who hinted that he will not pursue its policy of raising rates in June, combined with the publication of poor macroeconomic indicators overseas have triggered a large rise in the dollar against the euro at 1.4539 on Friday morning near 1.4820 against the dollar Thursday morning. In response, a barrel of oil dropped $ 10, or 8% over a single day since the first Gulf War in 1991.All commodity prices followed: the money has dropped by nearly 13% a decrease of about 30% in four sessions, gold has lost nearly 4%, corn, wheat and soybeans fell 2% to 3%. Thus, the benchmark commodity, the Jefferies Commodities, fell nearly 5%, its heaviest one epu correction since more than two years and one of the largest in its history.

And movement of massive sales were amplified by technical factors: the "leverage" the purchase of securities on credit, which generate an increased movement of buying and selling and crossing thresholds that cause technical auto sales. All of these elements has resulted in "panic selling" ("panic selling") on the part of operators too exposed.

Some dealers predicted yesterday: "No more for raw materials, must sell."In their eyes, we witnessed yesterday at the bursting of the bubble that forms over the past two years on raw materials. George Soros, known for its anticipation of market movements, sold its gold and silver earlier in the week after referring to a bubble in commodities. Investors have not hesitated to describe the meeting as "one for the books", ie a session that will mark history. However, Addison Armstrong, analyst at Tradition Energy, said that "the correction was too severe." This morning, oil prices that reflect and repass over the 100 dollars seems to prove him right.

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Click image for larger graphic.

The state coffers can thank the cell regulation. Active from April to December 2009, this unit has urged the French assets hidden abroad to come into line with the Inland Revenue. The repentant pay the tax due – 7 years EWB, 3 years of income tax and potential inheritance tax – but in return he received a discount on penalties. With this offer, Bercy recovered to date almost one billion euros: 887 million overdue taxes plus 70 million in penalties. These figures were provided by the Budget Ministry to Jerome Cahuzac, President (PS) of the Finance Committee of the Assembly.

500,000 French accounts in Switzerland

This billion may seem weak against 5.6 billion earned by the Italian tax authorities. But Italy had offered an amnesty to his repentant, who paid a fine.France, including the budget minister at the time, Eric Woerth, refused amnesty on principle. Explaining that a political choice less than 5000 people (4725) are gone in the cell, whereas, according to some experts, there are 500,000 French accounts in Switzerland. In short, France has preferred to draw little repentant but take a good revenues. Revenue which, after being estimated at 700 million in early 2010, will certainly exceed the billion ultimately. For all the records are not curly. Only 1600 have paid all repented their due. For 2605 of them, the transaction is entered into with the IRS but there are still remnants of income tax and penalties to settle. Finally, 523 cases are being processed.Everything should be completed by the end of 2011, according to Bercy.

In detail, the cell has recovered 497 million ISF 233 million inheritance, 157 million income tax (IR), the 7.3 billion in assets reported by the French who are reported. "Those who have regularized their situation are often people who have inherited their parents' accounts in Switzerland. These assets traditionally reported little income. And the crisis has aggravated the situation, "says Bruno Gibert, Partner at law firm CMS Bureau Francis Lefebvre. That's why the IRS has collected little IR.

HSBC list

Penalties have so far brought only 70 million. "This amount seems low. I ask for clarification Philippe Parini, the director of public finances, at a committee hearing in May, "said Jerome Cahuzac.This figure corresponds to an average penalty amounting to 7.8% of the tax, is nevertheless consistent. Indeed, Bercy was decided to limit the penalty to 5% for those who did qu'hériter hidden assets and 20% for those who actively concealed the money, instead of the 40% effective usually. "Furthermore, with the payment of taxes due those who have settled have left a total of between 10% and 15% of their capital. This is not nothing! "Says Bruno Gibert.

Today, although the cell has closed its doors, the lawyers continue to file folders regularization Bercy. "But for now, they are not treated," says one of them. The tax is especially busy launching the 3000 fiscal controls on persons from the list of accounts with HSBC hidden in Switzerland. And despite the fact that the Court of Appeal of Paris has declared illegal the file from a flight. "This case concerns me.It should not be that tax evaders are doing, "says Jerome Cahuzac.

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At two months of the meeting of Agriculture Ministers of the G20, Paris, France is stepping up efforts to convince its partners, including emerging markets, the need to control the prices of raw materials. The fight against the volatility of agricultural prices is one of three priorities for the French presidency of the G20, with the reform of the international monetary system and taxation of financial transactions.

Bruno Le Maire has made two key visits this week to Moscow and Brasilia. The ministerial meeting in Brazil was "a success," says one in the entourage of Le Maire. The Brazilians were very reserved in respect of the French proposals now seem reassured. "Bruno The Mayor has made clear that the control would only financial manipulation in the market for agricultural products," said the Brazilian minister, Wagner Rossi."We were surprised to see Brazil, strongly supports greater regulation in the markets," said a member of the French delegation.

Transparency of financial markets is one of three priority reforms to limit price volatility, according to experts from FAO, OECD and World Bank, who wrote a report on the issue for the French presidency of the G20 .

Very sensitive because it addresses the controversial role of speculation in rising commodity prices, this subject has been left to finance ministers of the G20. It will be discussed next week in Washington.

Unilateral decision

In Moscow, the ministerial discussions focused on another sensitive issue: the unilateral restrictions on exports.August 5, Moscow's decision to freeze its wheat exports to the fires and drought caused exceptional sharp rise in prices on international markets. This reaction is not concerted, which goes against the principles of free trade the WTO has been criticized by Paris. France hopes in the G20, impose a mandatory consultation ahead of this kind of decision in order to prevent abuse, and to take measures to protect poorer countries against rising prices.

On this issue, Bruno Le Maire is sparing no effort, he will have met four times his Russian colleague, Elena Skrynnik. "Moscow agrees on the principle of cooperation in upstream, on the protection of the most vulnerable," says a close case.France, which claims to have joined Brazil and Russia to its cause, must now convince another heavyweight G20: China, world's largest producer of wheat. "Beijing is far from conducive to transparency on stocks," says Michael Porter, Director of Agritel, risk expert on agricultural markets.

In its global offensive, France has discovered another restive country to its arguments: Australia, great agricultural power. "Australia is the country most recalcitrant!" Said a negotiator. "For them, the volatility of agricultural prices is a non-issue! Bruno Le Maire there will soon travel to Sydney to achieve its purpose? Nothing is excluded …

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