International News

"Industrializing access to start-up." This is one of the goals sought by Electronova Capital, the investment fund which EDF has announced Tuesday. This new tool will prioritize the "cleantech", these companies specializing in innovative technologies environmentally friendly.

"Our approach is flexible: it can be anything to support a project to take an equity stake," said Bernard Salha, director of research and development of EDF. The electrician tricolor, via an annual budget of 500 million euros, is one of those that invest most heavily in R & D.

Turn to France and Europe

Electronova Capital Fund will have a capacity of 60 million minimum investment, and the envelope will increase to 90 million euros, said Thomas Thornton, chief financial officer of EDF faxless pay day loans. The French group has teamed up for the occasion to Indivest Partners, a recognized specialist in SME financing.

"The launch of this fund is a further step in our policy for innovation. We have already taken similar initiatives in China and Canada, while qu'Electronova Capital will initially intended to turn to France and Europe, "said Thomas Aldridge.

Meanwhile the first operation, areas of intervention should not be missed: "The energy landscape is changing; between issues related to CO2, the development of renewable energy and the desire for improved energy efficiency, we are a turning point, "says Bernard Salha.

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Presidential in major cities Paris | Leeds | Lyons | Toulouse | Leeds | Sheffield | Liverpool | Bordeaux | Lille

Presidential in major cities Paris | Leeds | Lyons | Toulouse | Leeds | Sheffield | Liverpool | Bordeaux | Lille

Settlement period for theft

After stealing a vehicle, the insured must receive a settlement offer from the insurer within 30 days. The amount of compensation is the estimated value of the vehicle during flight. If, after this period of 30 days, the vehicle is recovered, the insured can choose between:

-Keep compensation from the insurer and give the vehicle

-Recover the vehicle and refund the compensation to the insurance company. Where appropriate and subject to the safeguards in the contract the insurer will take over the repairs necessary for its restoration.

Namely: if the vehicle is recovered before payment of compensation, it must be based on the amount of any necessary repairs.

Settlement period for property damage

In case of damage the delays are different. Indeed, the insurer then has three months (from the claim) to make a settlement offer. The compensation must then be paid within a month.

Where a claim is caused by a natural disaster, the regulation of the latter must be made within 3 months following the publication of the interministerial decree in the Official Gazette.

Settlement period for personal injury

In this case the insured should receive an offer of settlement from its insurer within eight months after the disaster instant credit report. If the insured dies after the disaster, his beneficiaries should receive a settlement offer from the insurer within the same after their claim. The compensation must then be paid within a month.

Non-compliance with these deadlines

If the insurer does not meet the deadlines related to the settlement offer and the settlement itself, the insured may consider legal action. Indeed, if the settlement offer was not made within the period, the compensation due interest income on the basis of twice the legal interest rate. Interest is calculated from the expiry of the deadline until actual settlement of the claim or the final judicial decision.  

If the payment of compensation is not made within the time allowed, the compensation also produces interest:

-Based on the guideline plus 50% during first 2 months after the deadline,

-On the basis of twice the legal rate after expiry of 2 months.

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Two billion euros. The Intermat 1350 exhibitors, which was held from April 16 to 21 in Villepinte near Paris, have not mégoté their investments as they exposed construction machinery and construction worth a total of 2 billion. "This very large sum shows business optimism this year," explains Maryvonne Lanoë, commissioner general of the show.

This event is the meeting point for all actors of the French markets, Southern Europe and North Africa. "The trend is quite good, says Philippe Haugenauer, Sales Director France of Japanese Komatsu. We have seen the show many people who have projects, although few orders were signed on the spot. "With a turnover of EUR 18 billion, the Japanese group is the second largest manufacturer of equipment BTP in the world.

Strong rebound of the market

Reinforces a sense that the latest figures released by manufacturers. "The aggregate producers, who are our customers, have a very good first quarter, so a little unexpected," says Michel Herr, CEO of France Sandvik, the Swedish group specializing in drills and milling machines. The reason: the great works decided by the government after the 2009 crisis. "We take advantage of highway construction and high-speed lines, including those linked to Tours and Bordeaux, Michel Herr says low interest personal loan. This allows us to benefit from a good order book for the second quarter. However, we lack visibility for the future. "

Despite its 15% growth in its European business in the first quarter, Saubot Alexander, general manager of Haulotte Group, Europe's leading manufacturer of aerial work platforms, believes that "this increase is lower than it should be given the fall market in Europe since 2009. " The activity is still far from the highest recorded in 2007 and 2008. Above all, Europe pales in terms of total growth over the period of Haulotte: 24%.

"The strong rebound in the global market for public works equipment recorded in 2010, to 17%, and 2011, 24%, is due in part because it had collapsed by 50% between 2008 and 2009" , said Maryvonne Lanoë. The activity remains well below the pre-crisis level.

"There are many projects, the problem is now often funding," says Philippe Haugenauer elsewhere. Dynamism that allows Buronfosse Renaud, chief representative of ICASA, the union representing the manufacturers of construction machinery, metallurgy and handling, be optimistic for the current year: "We envision an increase of business activity of the profession of 5 to 7% in 2012. "

Zadig & Voltaire is poised to succeed his conquest of the West. Not only the French glam rock label founded in 1995 multiplies the openings across the Atlantic, where it already 8% of sales: in the end, she will inaugurate its eighth shop, 200 square meters on the prestigious Madison Avenue.

Better yet, Thierry Gillier, founder, owner and patron, comes to do business with a prestigious U.S. investment fund, TA Associates. After five months of negotiations, he signed on March 30 a memorandum of understanding, under which TA Associates will take 30% stake in Zadig & Voltaire. Reportedly, the agreement, which should be completed and made public in the next few days, values ​​the company 380 million euros. For its last fiscal year, ended July 31, Zadig & Voltaire has indeed achieved a turnover of 130.6 million euros and an Ebitda (EBITDA) of 34.2 million.

The investment firm TA Associates who invested since 1968 in hundreds of medium-sized enterprises with high growth in finance and the Internet, the bank was advised by Rothschild & Company for the operation. It will pay 11 times earnings of Zadig & Voltaire to diversify into ready-to-wear clothing. A multiple close to that achieved at the entrance to the capital of Eurazeo Moncler, last June.

Professionalise the governance of society

For Thierry Gillier, advised by Laurence Danon, Edmond de Rothschild Corporate Finance, this operation is the culmination of a long reflection no faxing payday loan. The contractor pushes for four years because of advances investment funds, as TowerBrook Capital and L Capital, and large banks. HSBC has thus approached several months ago for an introduction to the Hong Kong Stock Exchange. But it was too early to Thierry Gillier, because the claw is not yet established in China.

In addition, Zadig & Voltaire, little debt and very profitable, does not need money. His boss has always maintained that it had enough cash to open 30-40 new stores worldwide this year. Zadig & Voltaire, which already has 70 outlets in France and 75 abroad (including booths in department stores, shops and franchised malls in Dubai, Moscow and Casablanca), will open this year a third store in Hong Kong, shops in Barcelona, ​​Moscow and in Germany, and a dozen corners in department stores like Bloomingdale's and Nordstrom in the U.S.. The transaction with TA Associates allows one hand to Thierry Gillier to achieve part of its capital and the other at Zadig & Voltaire entered a new stage of its growth and move beyond small family . The company may professionalize its governance, improve its financial structures and especially benefit from the expertise of TA Associates in the International Markets.

Thierry Gillier wants Zadig & Voltaire makes this year half of its sales overseas. Reportedly, he aims for the fiscal year began in early August up 19% of consolidated sales and an even more rapid Ebitda.

Born primarily the desire to escape the influence of the United States and Europe, the group of Brics, which includes Brazil, Russia, India, China and South Africa, is still seeking an identity. For now, the five emerging economies, which account for 40% of world population and weigh almost a quarter of global GDP, have in common especially their insolent growth. A favorable economic foundation for greater integration, but that has yet to consolidate.

More ambitiously, the desire to define a common diplomacy is squarely a figment of the imagination, as are large differences within the Brics international political crises. Not to mention the simmering conflict between India and China, who have not settled their border issues.

Nevertheless, the Brics are taking shape. And the fourth summit of the five emerging countries to be held Thursday in New Delhi could lead to some concrete decisions. "The Brics are a unique group. It is not based on geography, as the European Union (EU) or the Association of Southeast Asian (ASEAN), "notes Sudhir Vyas, Secretary for Economic Affairs of the Ministry of Foreign Affairs Delhi. Adding: "Beyond their role as drivers of global growth, the five countries are united in their desire to seek durable solutions to global challenges, they can afford."

Although Beijing and New Delhi have revised their growth forecasts downwards, the two capitals show figures to be the envy of Europe and the U.S.: + 7.5% of GDP increase in China this year + 6.9% in India. According to a report released Wednesday by Knight Frank and Citi Private Bank, India could become the world's largest economy by 2050. "China will overtake the U no teletrack payday loans.S. in 2020, and will be overtaken in turn by India in 2050," analysts said.

Compete with the dollar

Wednesday, the eve of the summit, trade ministers of Brics had several working sessions in New Delhi. "The consequences of the financial crisis (in Europe) affect everyone. We must work together to overcome the problem, "said the Indian Minister of Commerce and Industry, Anand Sharma. Chen Deming, his Chinese counterpart, dearer: "It is urgently necessary to prevent the crisis in the European Union is escalating."

The agenda of the summit of Brics is vast. It only last a few hours, in a transformed Indian capital into a fortress. It will discuss food security, health, but also the puzzle of the Iranian nuclear and Syria. The highlight, however, will create a "bank of Brics", already nicknamed "South-South Bank." The project, proposed by the Indians, is still in its infancy. But the idea is timely then that the Brics seek to formalize their lives by forging institutions.

Bank of Brics would particularly called upon to finance infrastructure projects in developing countries. It is also a great way to circumvent the euro and the dollar … the benefit of the Chinese currency. This is not to please all members of the group. Brazil, in particular, complained about the undervaluation of the yuan. "This project shows that bank emerging attempt to withdraw from the World Bank and International Monetary Fund, which are dominated by Westerners," says John Mashaka for its part, an analyst at Wells Fargo Capital Markets.

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The French are discouraged before they even take steps to resolve a dispute. It is thought that nine out of ten surveyed by Ipsos for the first edition of the barometer Axa legal protection. Justice remains an unknown for most of them: 80% do not know who to turn to know their rights, and 97% believe that the justice system is difficult to understand.

Worse, seven out of ten French think they have no financial means to defend themselves. Godsend for the legal protection insurers, which offer information in their contracts, and if necessary support – within limits – of legal fees. According to the Ministry of Justice, the cost of resolving a dispute is on average 200 euros for the costs of bailiff, 500 euros for an amicable and 1500 euros to cover attorney fees for a procedure .

Family, an area seldom covered by insurance

The French think that the main sources of conflict are employment, housing and the Internet. In fact, the most common disputes relate primarily to the housing (25%), led by neighborhood problems and relations between landlord and tenant, and Internet purchases (24%). Relations with the employer is not a priority (23%).

Numerous disputes also affect the field of family (divorce, inheritance …). But legal protection insurers rarely venture in this field. Axa Protection legal disputes of this nature are supported only if the client has signed the contract the more upscale, costing between 140 and 300 euros per year, much higher than a domestic contract classic (63 euros per year).

The insurer, like others, offers customers a hotline: a lawyer tells them about their rights and answered their questions. This service receives 175,000 calls a year. The insurer sees submit 36,000 new claims per year, most amicably resolved.

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This is an open secret, Greece will not reimburse at best a small part of his debts. In practice, three-way open to it. Either to agree with its private creditors who accept a "voluntary extinction" of their assets or negotiate a "partial default" in accordance with its European partners. Or, finally, walk out, like Argentina in 2001, called a "disorderly default."

On the merits, all three perspectives are not so different as they seem at first glance. Buenos Aires was finally concluded in 2005, a restructuring agreement with its creditors, who agreed to lose 65% of their assets. A huge sacrifice, but less than the "palm" of 73% currently proposed to the creditors of Athens, according to Jean Lemierre encryption, one of their main representatives in the discussions.

It comes out of the ambiguity that his injury

Moreover, the "voluntary" nature of the PSI, the Private Sector Involvement, where creditors agree to commit hara-kiri is a total hypocrisy. It's like "confessions during the Spanish Inquisition," recently remarked President of Commerzbank Martin Blessing. It expresses a widespread feeling among his colleagues and much more in the Greek pension funds. For them, three quarters of the savings are invested in securities of their state, the loss will be huge, whereas exposure to Greece is only 1% of GDP in the euro area for international investors (according the BIS figures).

But, as everyone knows, no one leaves ambiguity as its detriment. Breaking fiction would volunteer to accept a "partial default". However, as repeatedly stated since the summer of 2011 Jean-Claude Trichet and Mario Draghi, his successor as head of the ECB, the latter would be forced overnight to refuse the Greek securities pledged loans that it offers to banks Hellenic. It would be to bankrupt the entire banking system of Greece, with a further loss of 173 billion euros for the ECB, obliged to make a cross on the Greek paper it holds (retired or in outright purchases ).

As for the third option, a "disorderly failure", the international consequences would be far more dramatic than in the case of Argentina. The shock wave would destabilize the rest of Europe. The IIF, the bank lobby, estimated at 1,000 billion euros losses for banks because of their financial ramifications cross. They consider to be a Gordian knot impossible to untie except slicing. Which would amount to a bank crash cause at least as serious as the crisis following the collapse of Lehman Brothers in 2008.

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Saturday accused by Marine Le Pen to slaughter according to halal "all meat" distributed in the Ile-de-France, industrialists defend themselves. President of the National Association of interprofessional Livestock and Meat (Interbev), interviewed by France Info, the judge charged the president of the National Front "absolutely false".

"In the Ile-de-France, a vast majority of meat is not slaughtered according to halal or kosher," which involves killing animals without stunning, ensures Dominique Langlois. "It may be that parts or pieces of meat from carcasses are slaughtered according to these rites, but that does not change the quality of meat and it does not change at all the qualities of the product," adds Will it.

For professionals in the meat, the charge of Marine Le Pen "is meant strictly political and did not match the reality of things." "It's a debate that can only be detrimental to both the meat industry to French and French production that does not need it," warned the president of Interbev.

The animal rights groups mobilized

This debate is not new. Last year, six associations have denounced the increasing proportion of animals slaughtered according to Jewish or Muslim rites. According to the Foundation Brigitte Bardot, who had made an investigation in slaughterhouses, more than 60% of sheep and goats, 28% of adult cattle and 43% of calves were then killed without stunning, but that consumers are warned.

In France, however, requires the slaughter, since a decree of 1964, the stunning of animals before killing, thereby mitigating their suffering. But European legislation provides an exemption, "when stunning is not compatible with the ritual prescriptions under the free exercise of religion."

Approval before waive stunning

Two bills were filed in late 2010, the Senate to the Assembly, without success, to obtain a specific labeling of meat slaughtered without stunning. "The consumer has the right to know what he eats. He has the right not to eat meat slaughtered in a ritual which does not believe him, "argued the UMP deputy Nicolas Dhuicq. A new amendment, introduced in September 2011, was also rejected.

On 29 December, a decree was published in the Official Journal, however, requiring slaughterhouses to obtain, on or after 1 July 2012, before an official authorization from the rule of stunning. "It does [may] be granted only to slaughterhouses in favor [...] of a registration system to verify that it is used to slaughter without stunning as a result of justifying the commercial orders, "said the Ministry of Culture.

Marine Le Pen wants to complain

The animal rights groups have expressed quite satisfied with this text. "Being able to justify a ritual slaughter is a specific order is important because, currently, most of the meat of this kind of slaughter is found in conventional circuits without any indication to consumers," recalled Christophe Marie, spokeswoman Brigitte Bardot Foundation.

Marine Le Pen was not in favor waiting for the entry into force of the decree. On the sidelines of the convention of his party, being held this weekend in Lille, it announced its intention to attack "a few major retail supermarkets in Ile-de-France for misrepresentation of the product." She said wanting to file a complaint with a civil order for a judge to be seized, which could lead to an investigation of several months.

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