International News

How to make the Greek economy to become as competitive as the German? Nothing simpler. "I guess the teachers of vocational schools and skilled craftsmen to retire would be willing to be sent (in Greece) fixed-term" is to suggest the European Commissioner for Energy, German Günther Oettinger in an interview with the Hamburger Abendblatt. "We hope that the German economic culture will allow transfer to Greece," said simultaneously the Minister of Economy, Philipp Rösler, also Vice Chancellor Merkel's government as head of the Liberal party.

The Minister of barely 38 years of Vietnamese origin, embodies the virtues of miscegenation and he is proud payday loans for bad credit. Philipp Rösler considers that there is no reason why the methods used to shore up the former communist East Germany do not work in favor of Greece.His words, the hints of cultural imperialism, appear a bit naive. But they clearly reflect a large part of public opinion in Germany. And after all not ready do we not have to Jean Monnet, one of the founding fathers of Europe, this formula, "If it again, I would start with culture"? It's now or never to try.

• Krys up big on Sun's

With Ray-Ban sunglasses, Sonia Rykiel or Armani 20% to 25% cheaper than the competition, the optician's Mon has seduced those who care about their spending, not to mention fashion. The group teaches Krys, an industry leader, was mostly created in 2009 to "anticipate the future perspective" with the rise of Internet players, the price will weigh more in the choice of this product . Fifteen stores Mon's, which also offer own branded glasses, are open this year, bringing the total to 30, while Krys already provides 200 points of sale in 2015.

• Total station experiences cheap

For over a year, the oil company is testing stations at low prices: 35 sites at baseline and 45 today – a fleet of approximately 2,000 outlets in total teaching, both in that city rural areas.Prices are likely to compete with supermarkets. For now, the group has not yet decided whether to extend the scheme. It will decide by the end of the year. The stations are scratched Total test, but it is not excluded that the group, he continues the adventure, is launching a new brand.

• Banks and insurers are betting on the Internet

They reject the term "low cost", but apply much revenue. In recent years, banks and insurance companies through subsidiaries disclaim Internet offerings of financial services at bargain prices and a la carte. ING Direct, the subsidiary of Dutch bank insurer, launched in 1997 this model of online banking. In France, Societe Generale offers a comprehensive range of services via Boursorama. Crédit Agricole target customers for its part with its private banking heritage online BforBank.As for the insurers, Groupama reserves its offer car insurance "Pay as you drive" customers of its subsidiary Amaguiz.

• Renault continues to expand the range of the Logan

Since its launch in 2004, the success of low-cost car for Renault, the only Western manufacturer to attempt the challenge, continues to grow. The group passed last year 685,000 low-cost vehicles, or 26% of its sales. Best of all, they bring him an operating margin above 6%. Logan began with the rustic to 7600 euros, the range now includes six models, the Sandero and the small 4 × 4 Duster. Originally designed for emerging countries, it paradoxically creates a strong demand in Europe, where it is marketed under the Dacia brand, produced in Romania. Tanger Factory (opening in 2012) will manufacture two new variations.Internationally, the range, made locally, is sold under the Renault brand. It is the spearhead of the group's expansion in Russia and Latin America.

• With Transavia, Air France attempting a takeoff in the low-cost

No way to leave Ryanair and easyJet monopoly on flights at bargain prices. Air France launched in spring 2007 its own low-cost airline, called Transavia, which carried 1.3 million passengers last year. From Orly-Sud, Lyon, Nantes and Marseille, eight Boeing 737-800 provide scheduled and unscheduled, mainly to the Mediterranean countries. These destinations are not served by Air France. The group does not wish to organize their own competition in order to avoid any risk of cannibalization. A draft Domestic Transavia has been abandoned.

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Two world champions, yet two totally separate financial realities. This is the observation made on Tuesday after Camille Lacourt Stravius ​​and Jeremy have jointly won the gold medal in 100 meter backstroke in Shanghai (China).

The first saw its revenues increased more than sixteen in less than a year with new advertising contracts. 42,000 euros per year in August 2010, Camille Lacourt thus rose to 700,000 euros, much of which end of advertising contracts. Jeremy Stravius, it has at present still no agent and a single sponsor, Tyr, obtained through the French Federation of Swimming.

Thanks to a physique, Camille Lacourt has attracted luxury brands like Clarins and beauty, and earns 200,000 euros a year for six years, and Chanel, which pays 70,000 euros a year to wear its watches. But not only.These three gold medals taken down on three different disciplines at the European Championships in 2010 convinced the sponsors to leverage the rising value of swimming. This choice is paying now. "We have no logic, because the muse is the star product, it says Clarins. Such a partnership is a new and unusual practice for us. It's Camille Lacourt who came to us. President Christian Courtin had a crush on the athlete who shared our family values. It has in fact explained that her grandmother was attached to our products payday advance low fees. It has become our first ambassador. What we do not regret today. "

Banking on new talent to one year of the Olympics 2012

A speech that could also take Tyre, the last date of the associate sponsor of the club swimmers Marseille.Last June, the U.S. supplier has signed with him a three-year contract for a minimum of 80,000 euros per year. This amount could go up to 150,000 euros.

The gap is large with Jeremy Stravius ​​which according to our information, does not own advertising contract. But in the basin of Shanghai, the swimmer's club has yet matched the Amiens time Camille Lacourt, which is considered as one of the specialists in the discipline. Jeremy Stravius ​​therefore affect the same amount as for this fellow gold medal.

Amiens and the swimmer is reassuring: the current situation is reminiscent of Camille Lacourt a year ago, before it exploded and sports media to the general public.As long as Jeremy Stravius ​​this week confirmed its performance on other distances, it is not inconceivable that a brand can be associated with his image, in just one year of London Olympics in 2012.

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Republicans and Democrats tear each other apart in Washington for several weeks to avoid economic and financial catastrophe. The draft plan expected Sunday night was supposed to at least prevent markets open Monday morning in Asia, the dollar collapses. Since mid-May, when the debt ceiling up to 14,300 Treasury billion was reached, investors have been remarkably patient. But tired of political impasse, however, they could start selling U.S. Treasury securities and cause a sudden rise in bond yields.

Beyond the immediate threat looming two major systemic risks. Chronologically, the first is that of a selective defect of the Treasury. The latter says that beyond the August 2, it will no longer have sufficient liquidity to pay all its bills.The only way to continue to pay both current expenses such as salaries of civil servants, pensions of the elderly, as well as interest and principal on its debt, is to issue new bonds. $ 87 billion of federal government bonds maturing on August 4. It can only do that by issuing new shares. For this, it must have the authority of Congress as the upper limit of 14,300 billion debt would be exceeded.

Risk of asphyxiation

Without authority to do so, the treasure is August 3 in a position to "selective default" is to say, forced to choose which to honor its debts. Even putting hundreds of thousands of civil servants laid off to focus on pensioners and holders of government bonds, the Treasury can hardly make time.Uncle Sam is, in fact, take roughly 42% of what it spends. If he can not borrow, it quickly asphyxiated. This asphyxiation born a global crisis of confidence, the stock market crashes and bond, a collapse in domestic demand in the U.S. and global recession. The enormity of the threat calls for a last-minute compromise, reducing public spending, paving the way for a poll under the ceiling of the debt.

The second danger is less serious, but the probability is much higher: it is the degradation of the AAA rating given to the debt of the United States. American paper would no longer be the instrument chosen by the risk-free banks and investors around the world to park their cash. The returns required by investors to hold bonds tarnished increase.An increase of one percent of these returns would result in $ 150 billion more than annual burden of debt for the Treasury.

The three major agencies have warned the White House and Congress: America does not deserve to keep the rating the best expense only if it engages in a credible plan to reduce the medium to long term its debt. It is therefore possible that next month, noting that the compromise that made it possible to raise the debt ceiling is accompanied only by inadequate measures of savings, one or more agencies degrade America.

Thursday milestone for the general construction equipment from France in optical fiber, the network of the future which must provide high-speed Internet to homes and replace the old telephone network today. France Telecom offers to all competitors who wish to offer access to its future fiber optic network in sparsely populated areas, with the possibility of co-financing. He has published Tuesday offers a very detailed in this direction. And it seems to do so fair play as Free immediately signed a co-financing rates ruling "economically reasonable".

After roaming agreement on 3G mobile, the partnership of the fiber is the second major agreement signed between France Telecom and Free in the space of a few months. But the incumbent would also be discussion of the fiber with SFR and Bouygues Telecom.This agreement will give a boost to fiber deployment in France, whose government is a priority. "What are the different actors as their strength together and avoid a dispersion of investment is really a giant step, which launches the real start of the top fiber," said Pierre Louette, secretary general of France Telecom.

If the number of Internet subscribers high-speed barely reaches 150 000 in late June, Nicolas Sarkozy has set a target coverage of 100% of the country with broadband by 2020. In the heart of major cities, very densely populated areas and therefore profitable, Orange, SFR and Free deploy each with its own fiber network. But the issue is acute in areas less dense. France Telecom's offer and provide an initial response to the many local officials who want high-speed on their territory.

Sixty cities

In concrete terms, with the agreement signed between France Telecom and Free the cities of Dijon, Brest, Reims, Le Havre, the community of loops of the Seine around Chatou near Paris, some sixty in total, representing 1,300 Public and 5 million homes will be equipped from 2011 to 2012. France Telecom will deploy its network and will own in the end. But competitors can participate in the financing and get strong trading network usage. "It's very flexible. Our competitors can buy access rights for every 5%. They are true indefeasible rights of use, kind of very long-term concessions, renewable, and can assimilate into their investment accounts, "said Yves Parfait, program director at France Telecom fiber.Since France Telecom agrees to work with its competitors, exit the idea of ​​a centralized national structure "Fibre France" imagined by some. "This fantasy of a national operator vanishes," said Pierre Louette.

The agreement validates the framework established by the regulator (Arcep) and meet in Brussels considered it too little binding. "The framework adopted in France is good, since it works, that France Telecom did what was expected of her and it avoids wasting public money," says Pierre Louette.

In total, France Telecom will invest 2 billion euros by 2015 in deploying fiber. It has covered 3600 and communes, 3440 outside the areas dense. It aims to cover 10 million households in 2015 and 15 million in 2020, nearly 60% of French households.

Against all odds, the enthusiasm of the French for the stone has not really denied the first half. After the euphoria of 2010, rising prices and rising interest rates on loans, the housing market remained strong. Despite a decline in the second quarter, the production of housing loans has increased by 17.5% year on year, according to the study by the home loan / APF.

"The demand does not seem to have reacted to the rise in interest rates," says Michel Mouillart, professor of economics at the University of Paris X-Nanterre, who led the study. However, credit rates climb since November 2010."After increasing by 0.1% per month between November 2010 and late March, they rose by 0.5% per month in the second quarter." As a result, rates increased from 3.22% (excluding insurance) on average in October 2010 to 3.9% in late June, returning to their levels of September 2009 or "even in the summer of 2006, when the market was booming."

For borrowers, this change is not painless. For a loan of 200,000 euros over twenty years, the monthly payment rose from 1,160 euros in October 2010 (with a rate of 3.5% excluding insurance) to 1244 euros today (with a rate of 4.3%) by Empruntis . com.

Longer loan periods

In seven months, the total cost of this loan was therefore adds more than 20,000 euros, 78,400 euros from 98,560 in October.However, the recent rise in rates could be partly offset by a lengthening of the duration of loan (215 months on average in June) and the significant increase in the personal contribution (10.5%) coming in part of the first resale of property.

In Ile-de-France and the rise of the personal contribution is the fastest. "If there are significant cost differences, but they are erased when comparing income levels," Michel Mouillart into perspective. In 2010, the average cost of an acquisition accounted for an average 5.8 years of income, against 5.5 at the national level. "We're trying to restore the normal activity of normal and resale market. When he is returned to the pace that it had before the crisis, the price growth will be slower, "predicts Michael Mouillart. It anticipates higher prices in the former between 6% and 7%, but with wide regional disparities.But the market for home ownership could slow. "The year is expected to stabilize the production credit," predicted Michael Mouillart.

As for lending rates, they should not move at short notice. But "it is very unlikely to go down ', say experts.

As seen in Europe with a market recovery, the New York Stock Exchange opened up, boosted by a salvo of large U.S. companies results, mostly better than expected: the Dow Jones gained 0.56% and the Nasdaq 1 , 00%. By 1330 GMT, the Dow Jones Industrial Average garnering 69.67 points to 12,454.83 points and the Nasdaq, dominated by technology, to 2792.75 points 27.64 points. On Monday, the New York Stock Exchange finished down.

Investors are increasingly anxious about the lack of progress on issues of public debt, both in the United States and euro area. Caution should remain in force on Tuesday, while discussions continue on the debt in the U.S.. Democrats and Republicans fail to agree on raising the debt ceiling of the United States, despite calls for unity of President Barack Obama.Not surprisingly, Fitch Ratings has again threatened yesterday to place the note from the U.S. sovereign debt under review with negative implications if no agreement was reached on the issue.

In Europe, investors have not been convinced by the results of stress tests in Europe. They are now waiting for the meeting of Heads of States of the euro zone on Thursday to take stock of sovereign debt problems plaguing Europe. Greece and its possible failure to pay would lead the discussions.

Sign of the nervousness and uncertainty room, the price of gold, still flies from record to record. The yellow metal has risen this morning to more than 1610 dollars an ounce, down the day after the symbolic threshold of $ 1600.

The euro is rising against the dollar Tuesday, but traders remain cautious.Around 1300 GMT (1500 Paris), the single European currency traded at 1.4189 dollars against 1.4117 dollars around 2100 GMT Monday. The euro rose against the Japanese currency to 112.10 yen against 111.59 yen Monday. The dollar stabilized against the yen at 78.99 yen against 79.02 yen Monday.

Oil prices rebound sharply at the opening of the market in New York, trying to recover losses recorded the previous day against a backdrop of serious concerns about the economic consequences of debt problems in Europe and the United States. Around 1:15 p.m. GMT on the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for August delivery traded at 97.53 dollars, up 1.60 dollars compared to the previous day. "These are discussions that take place within a limited range," commented Rich Ilczyszyn, Lind-Waldock.Le barrel had dropped $ 1.31 Monday.

On the macroeconomic front, investors will be watching especially housing starts and building permits in the United States. Two statistics that mark once.

Values ​​to follow

The side of values, after the close of Wall Street, several major groups have announced their quarterly results.

Pleasant surprise on the side of IBM rose 8% of its profits in the second quarter to 3.66 billion. The adjusted earnings per share was 3.09 dollars against 3.02 dollars expected by analysts. Turnover was up 12% to $ 26.7 billion against $ 25.4 billion expected. Please note, sales of servers rose 17% year on year to 4.7 billion. For the full year, IBM raised its forecast for earnings per share to 13.25 dollars against 13.15 dollars earlier. The title earns 3.01% to 180.55 dollars.

Always on the side of values, Cisco confirmed the elimination of 6,500 jobs to reduce production costs. The group is facing stiff competition, especially from China, the market for Internet routers. Price reductions are higher expectations. According to IDC, Cisco, which holds 64% market share, experienced a contraction of 16% of its sales of routers in value in the first quarter. The title earns 1.14% to 15.62 dollars.

In addition, the producer of fertilizer Mosaica announced a profit of 649.2 million dollars above expectations of analysts. Turnover was up 54% to $ 2.86 billion and also higher than expectations.Farmers' demand remains strong, particularly in wheat, and weather conditions have supported the group's sales.

For its part, the steel producer, Steel Dynamics (3.69% to $ 16) announced a profit of $ 98.7 million and a turnover of 2.08 billion, both higher expectations.

Also note, MSC Industrial Direct (0.72% to 65.84 dolars) has announced the acquisition of American Tool Supply and its subsidiary American Specialty Grinding without specifying the amount of the transaction.

According to the Financial Times, the fourth group HNA Group Air China would be the favorite to take over the subsidiary of General Electric GE SeaCo.

Moreover, according to Bloomberg AMR Corp (-0.61% to 4.88 dollars), the parent of American Airlines, could be divided between Airbus and Boeing single-aisle aircraft order it plans to spend.American Airlines is negotiating with manufacturers for the purchase of more than 250 aircraft.

The American insurance company AIG (0.83% to 27.88 dollars) study the stock market into a stake in its subsidiary, ILFC aircraft leasing, operation that could bring him back from 1.5 to 2 billion, reports the Wall Street Journal Monday.

European banks may need to raise 80 billion euros, to reassure the markets. A report by JPMorgan Cazenove, led by analyst Kian Abouhossein, estimates that if the level of reserve requirements is strictly adhered to 7%, nearly two banks will raise new money. French banks Societe Generale, BNP Paribas and Credit Agricole would need twenty billion euros, against 25 billion for UK institutions and 14 billion euros for German lenders, including Deutsche Bank. The Italian UniCredit, Credit Suisse and Santander are also cited in the report by JPMorgan Cazenove.

This study revealed the results of stress tests published last Friday by the EBA.These tests, built on capital requirements as 5%, entered into a need to refinance 2.5 billion euros for eight of the 90 banks assessed, including any French. But investors believe these tests inadequate, particularly criticizing for not sufficiently taken into account the default risk in Greece. JPMorgan Cazenove said the criticism in his study, indicating that these stress tests have "limited value".

The evolution of banking stocks on European stock markets will be very observed on Monday morning to find Investors Arbitration between the reassuring results of stress tests and numerical study of JPMorgan. In March, ratings agency Standard & Poor's had conducted its own tests of resistance.His conclusion: European banks would need 250 billion euros of additional capital.

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The difference is certainly on the thickness of the line but it still twists his neck to popular belief. An evaluation of the Ministry of Labour with the redeployment of unemployed Le Figaro has obtained, employment center gets better results that private placement (OPP) to which the accompaniment of hundreds of thousands of job seekers job was outsourced. In other words, the public would be more effective than the private sector to find new jobs for the unemployed.

This assessment focuses on two categories of job seekers who have benefited, in November 2009 and March 2010, a reinforced support: the unemployed far removed from the market (long-term, seniors …) and CTP-fired economic CRP (devices for one year guaranteeing a subsidy equivalent to 80% of the last gross wage). Just under 5000 people were interviewed.In both cases, the rate of return to work thirteen months after the start of the support is higher for employment center.

47% of retrenched in CTP-CRP followed by public service employment benefit and employment (employed or not), against 43% for those followed by a private placement (employment agency, company … reclassification). Less than one in three point still unemployed after thirteen months, against 38% for a PPO. The private sector, which offers support more regular and reinforced, in the end proves better than the public service on one point: the rate of CDI won, higher than 5 points to the result displayed by employment center.

More CDI

The difference is greater for the second cohort of unemployed: the unemployed far removed from the labor market.49% are employed and thirteen months after the start of their employment center for support, against 43% for those followed by a PPO. Unlike the retrenched, the CDI rate is even higher in the public service (44% against 39%). Worse, the number of unemployed, thirteen months after the start of the accompaniment, are higher in PPOs (45% against 41%).

These results revive the controversy over the use of OPP – the cost of an unemployed investment returns twice as expensive (2200 euros on average per year, against 1100 at employment center) – to relieve the crews of the public service of employment in case of downturn. The popular option is to use only an "outsourcing of specialty", on a more targeted, less numerous and where the added value of OPP is proven. Should, in this case, review their terms of payment by paying more in income.PPOs now affecting half of their performance in support of an unemployed, 25% when in use and 25% if there is still six months later. The idea is often put forward to move to a 35% share in the care and placement for 65% effective (against today 50/50). A useful discussion since the OPP always accompany nearly 150,000 job seekers.

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"Avada Kedavra!" From the Aramaic "adhadda kedhabhra" meaning "that the thing be destroyed", the magic world of Harry Potter describes perfectly how the saga has shelved the James Bond and Other War stars of a economic point of view. On the eve of the release of the eighth and final installment of the series in dark rooms ("Harry Potter and the Deathly Hallows Part 2"), the figures give the spin: in total, the first seven films have generated some 6 , $ 4 billion (4.4 billion euros) in revenue worldwide, according to the U.S. studios Warner Bros. By itself, the first film adaptation in 2001 was worth almost a billion dollars.

Most successful in the history of cinema, the adventures of the bespectacled wizard is also the most successful global publishing.Since the release of first installment, "Harry Potter and the Sorcerer's Stone" in 1997, over 400 million books were sold, having been translated into 69 languages ​​and 200 territories.

Consequence of its popularity, the saga has been an all-out merchandising. In all, video games and other clothing, stuffed animals and candy bearing the image of the heroes of the series would yield more than a billion a year, according to AFP. In June 2010, a theme park has even opened its doors in the United States. Stamped "The Wizarding World of Harry Potter" ("The Wizarding World of Harry Potter"), the attraction has cost $ 200 million, and would experience a growing success since its opening.

20 million books sold in France

Well represented in the saga (including the Academy of Magic Beaubâtons), France has not escaped this wave.According Gallimard Jeunesse, which has an exclusive publishing contract, the figure of 20 million copies sold recently passed. In the dark rooms of the Hexagon, the adventures of Harry made a card, even if the number of entries went out over the decrescendo. The first movie ("Harry Potter and the Sorcerer's Stone") has attracted some 9.4 million entries, against almost 6 million for the first part of the seventh installment.

Olivier Snanoudj, vice president of Warner Bros France, the decline in the number of entries "not surprising" since, over the episodes, movies, like the books have become "increasingly dark ". "As a young child, and by extension their parents or grandparents, came to the movies less," said he. This does not prevent targeting "a minimum" the bar of the six million tickets for the final film in the series."All fans want to see the end" of the adventures of young wizard, he bet.

Gallimard reissued the series in October

Display, advertisements in the press, promotion on the Internet … Nothing in any case been left to chance to boost inflows. Thus, the film was scheduled at the beginning of the school holidays and in the wake of the film festival, a promotional weapon of choice. Highlight of the campaign, a preview was held by Warner Bros. on Tuesday evening at the Palais Omnisports de Paris Bercy. "We installed the largest 3D screen in the world with six projectors, for an audience of 8000 people," recites the vice president of the distributor.

Via this strategy, the distributor looks forward "to revive the cash machine in particular in view of Christmas sales, or special boxes will probably days," slips a specialist.Hand books, Gallimard Jeunesse has relatively good performance of the game first, "the release of the latest installment in the film is likely to boost the sale of books, as has always been the case in the past," said Frédérique haunch, responsible for the communication of the publisher. And to project, announcing a repeat of the saga, in Volume by volume, from the month of October. With the menu, "new coverage to be carried out by the famous English designer Jonathan Gray," she says. Thus, Gallimard Jeunesse renewed the assault of a young audience, "from 8 to 10 years, as we did 15 years ago." On the commercial side, Harry Potter has not said its last word.

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