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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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The news will revive speculation about the succession to Maurice Levy. The boss of Publicis Groupe, the world number three communication, set this Wednesday, Jean-Yves Naouri head of Publicis Worldwide, its largest advertising network. A decision fraught with meaning, and "an important context for me," says the FigaroMaurice Levy, whose term as CEO was extended beyond the end of 2011, but no deadline is set .

Jean-Yves Naouri, who also remains CEO of Publicis Groupe operational, takes the place occupied since 2006, Richard Pinder, who is leaving Publicis' to carry out personal projects. "

At 51, Jean-Yves Naouri still does not inherit the scepter, but puts its new mission as a worthy successor.While giving him the keys to the brand's founding group Publicis, Maurice Lévy offers him the opportunity to "complete the range" of its capabilities: to manage the operational activity of a network of nearly 10,000 employees, serving client world leaders in their sectors such as Renault, L'Oreal, HP, Nestle and Procter & Gamble.

His appointment and the departure of Richard Pinder concomitant further reduces the range of possibilities, especially after the release of the game by David Kenny, former head of Digitas, acquired by Publicis in 2007, and Vivaki – which includes activities and digital media group payday loan online. The latter joined the Internet Akamai solutions specialist.

Initiatory journey

The trajectory of Jean-Yves Naouri has it, all of the initiatory journey.He joined Publicis in 1993 after a stint in the cabinet of Dominique Strauss-Kahn, Minister of Industry from 1991 to 1993, this X-Mines co-founded Publicis Consultants, assumed the chairmanship of Publicis Conseil in 2000, and his classes internationally, including the charge recovery activities in northern Europe, or that the healthcare division.

Organization man, Jean-Yves Naouri has risen through the ranks of the group. Appointed Executive Vice President of Publicis Groupe in 2004, Deputy Director General in charge of operations in 2006, then Chief Operating last year, he is a member of the Board since 2007.

Challenge beautiful "and" great opportunity "in the words of Jean-Yves Naouri, the post he was offered Wednesday is" a step closer to the finishing line, "which places" in an excellent position in the race "warns Maurice Levy.

Tony Fernandes, president and founder of AirAsia still can not. The day before his first plane landed first at Orly for the launch, the day of St. Valentine, the Paris-Kuala Lumpur four times a week operated by its subsidiary low-cost, AirAsiaX, first low- cost global long-haul. "There are only nine years, we had only two aircraft. Today, we are in Paris. It is a dream for me. "And to celebrate the event, company officials have punctuated their speeches in the great library of the Automobile Club de France in Paris Cancan numbers and Malaysian traditional dances under the amused eyes of many guests including Louis Welsh, president of EADS.

The latter's presence was not coincidental. AirAsia is currently negotiating the purchase of new aircraft to expand its fleet of 98 Airbus (A 320, 330, A 340) and 4 Boeing.Tony Fernandes said he was concerned by the Neo A 320, remotorisée version of the device consuming less fuel. "We are actively talking on the plane," he told AFP. A 320 of the 175 ordered with an option for 50 more, a dozen of them could be Neo. Chairman of AirAsia said that eventually his fleet "could reach 500 units.

Cooperation with SNCF

Tony Fernandes has reiterated that it was seeking new niches for the Paris-Kuala Lumpur will become daily. "Paris will perhaps become our central European," he added, explaining that London, opened two years ago, was "a problem". He believes that "taxes are too high and that air traffic control is a big mess."He again expressed his hope to launch a second route to Manchester to open the passenger doors of Italy, the Alps and southern Europe.

The company continues its campaign launch with connections provided by AirAsia to major destinations in Southeast Asia at discounted prices until 20 February: go Paris-Singapore via Kuala Lumpur costing 249 euros, while Paris-Bangkok Jakarta or $ 279 euros and 289 euros Paris-Bali.

Asked about the economic model of its low cost, Tony Fernandes said that the frequency of flights would be profitable lines. It also states that with the assistance of the Ministry of Tourism Malaysia, AirAsiaX offer packages including hotel accommodation. And France, AirAsia is considering collaboration with SNCF to ensure passengers from Asia matches by train to major French and European destinations.

In Barcelona at Mobile World Congress, Nokia-Microsoft agreement is central to the questions. Stephen Elop responds.

LE FIGARO. – Google has criticized the alliance with Microsoft, saying that the marriage of "two turkeys never created an eagle?

Stephen Elop. – Our two groups have complementary products and a balanced portfolio of assets. Together, we have great facilities, well-finished products and strong brands in operating systems for mobile phones. It's the same in services with a side maps, location services and guidance on the other search engines, the range of services for the Xbox game console and productivity tools.Overall, we need the full range.

Why not have chosen Google's Android?

We would have encouraged the emergence of a duopoly in smartphones, with a side of Apple and Google each other. For in recent years, Apple has been between 15% and 20% of the market and Android between 60% and 70%. That would have recalled the development for the PC industry, where margins of manufacturers have become weak. An alliance with Google would have been detrimental, ultimately, to our ecosystem.

What is the financial part of the agreement with Microsoft?

On the one hand, we will buy Microsoft's Windows operating system Phone for our future smartphones. This allows us to reduce our investment in research and development. We will reduce our operational expenses. On the other, Microsoft will give us a lot of cash. This amount is counted in billions of dollars.We can increase our marketing efforts and our search for the next generation of products.

Your competitors are paying 10 to 15 dollars a Windows Phone 7. How much will you pay?

We are the leading manufacturer of mobile phones in the world. So we got an attractive price.

Will you continue to use Symbian OS for Nokia smartphones for entry-level?

We intend to use Windows phone in as many products as possible. In India, where a mobile phone costs $ 3 to purchase, we will also have a proposal for a Windows phone. In addition, we have our own solutions which will benefit from our investments

Why did Nokia shares fell on the announcement of the alliance with Microsoft?

We created a lot of ambiguities and uncertainties for investors personal loan for poor credit.How long the transition period going to last? What will happen pending the release of our first products on Windows 7 Phone this year? In addition, we have announced substantial job cuts, without specifying the number, because we must provide these answers to the staff before the unveiling. All these issues have caused uncertainty.

What do you want to change the culture of Nokia?

Change the way we work. First, division heads will be responsible for the results of their activities and bureaucracy will be abolished. Now, Jo Harlow, for example, is responsible for the results of the division of smartphones. This was not the case before. The heads of subsidiaries have more power without needing to refer all the time in Finland. We want to improve the elements of the corporate culture.The company was too slow in its decision making. We must think with more humility. We deliver more and more mobile phones, but the market situation is changing very fast. We must be more humble in our decision making and how to talk to our customers

What is your involvement in the Internet Tablet?

We MeeGo operating system, designed with Intel, which was adopted by a German partner for an Internet tablet. Mobile World Congress, other companies should announce. For Nokia, we have multiple options. We can take advantage of our agreement with Microsoft or operate our own operating systems.With MeeGo, we could see the emergence of other products such as GPS navigation devices.

How many do you have Microsoft stock?

I had a substantial stake in Microsoft, because of my former office. During the thirty days following my departure, I did not have the right to sell those shares, for regulatory reasons. Then, once I was right, I initiated a sales program. I achieved 60% of the shares I own. But as soon as we started discussions with Microsoft, I stopped the sale because I own proprietary information, unknown to investors.

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The partnership between Nokia and Microsoft sounds like the choice of last resort. Both groups have accumulated failures in mobile telephony in the past twenty-four months.

"By adopting a clear strategy, we will give teams the Nokia want to fight," said Stephen Elop on Friday, Canada, formerly of Microsoft, called the head of the group six months ago to save the sinking . This is the first time in its history that Nokia has a non-Finnish president. Without clear direction, Nokia was going to drift. The group is cornered. Its global market share is steadily declining. Its range of a hundred phones covers almost all market segments, but has lost its coherence.

Worse still, Nokia has completely missed the turn of smartphones, the high value segment."The first iPhone was released in 2007 and we still have no product whose experience comes close," said Stephen Elop in a memo sent to his troops. Symbian, the operating system house, enjoy a nice installed base of 200 million users, it is not up to its competitors. Sony Ericsson has also waived late 2010 in favor of Android. Meanwhile, the group has dangled for almost two years the arrival on the market for a new operating system, Meego, who will probably never happen, despite spending. Finnish remained strongly committed to the idea that it was the manner of an Apple or RIM to both control the production of equipment and software design.A page now touring with the choice of the Microsoft alliance.

Battle of applications

Small consolation prize for the world leader in telephony, beautiful business performance achieved in countries with strong growth in entry level easy payday loans. Position weakened by the emergence of new actors. "Some Chinese brands hitherto completely unknown compete with Nokia in emerging markets," said Carolina Milanesi.

However, the battle is far from won. The picture is much brighter at Microsoft.The software company launched last year its operating system Windows phone with a lot of advertising and marketing expenses for an inconclusive result, only 1.4 million phones sold in three months.

The two giants have another problem in common: the number of applications on their platform does not allow them to deal with Apple or Google. "We have 8,000 applications, has again reminded Steve Ballmer on Friday. The Nokia Ovi Store has thousands, "according to the brand that is careful not to disclose a figure. Apple is approaching 300,000 and Google applications exceed 100,000. However, the number of applications available is a selection criteria of consumers. In alliance, Microsoft and Nokia hope to catch up in attracting developers advantage. For this, they should offer them a more attractive form of compensation than their main competitors.

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