Things settle a bit, the first social service that the government should take. The decree establishing the terms of a partial return to retire at age 60 for employees "who started work at 18 or 19 years and have contributed for 41 years" will be released "late June, early July at the latest," said Marisol Touraine, the Minister of Social Affairs and Health. "It is a priority measure of justice", she insisted on the eve of the opening of the consultation with social partners asked him to run Jean-Marc Ayrault on the subject.

The Prime Minister on his part said that there would be some leeway on how to start part 60. For now, only employees who actually contributed 41 years are concerned. Those who reach this time thanks to bonuses under the military service, unemployment, maternity or sick leave are not. Well, not yet

.

Because before the growing discontent of the unions that put pressure to expand the scope of beneficiaries, Marisol Touraine has already begun to make concessions. "The maternity leave or military service will count," has for the first time recognized the minister, who has nevertheless remained somewhat fuzzy on the periods of illness and unemployment – it is precisely the subject of discussions with social partners – may be "embedded within certain limits." The Minister has merely to recall the target year of the return to retirement at age 60 (150,000 beneficiaries) and cost (one billion). "I will make a trade based on financial constraints", for his part nuanced Jean-Marc Ayrault faxless payday advance. In short, nothing is locked and discussions within the government have not started.

SMIC: no fork

Same uncertainty about the level of boost to the minimum wage before the summer that Francois Hollande said. Jean-Marc Ayrault has even refused yesterday to give a range. "The same rule applies in this matter as on others, dialogue and respect for partners, justified the Prime Minister. We spent five years with a president who decided everything, and it worked poorly. "Do not bother to repeat past mistakes, even if the decree should be published quickly increase, in any event before the conference Social in July.

"The Prime Minister has no incentive to plant on these two decrees augurera as this evil if his vision of social dialogue," warns Pascale Cotton, the general secretary of the CFTC. Number 2 of the central Christian "refuses any escalation of the minimum wage" and recalls that "supplementary pension funds do not have the means to finance a partial return too much to retire at 60".

These points, in opposition to the demands of the CGT and FO, are at the heart of consultations that began Michel Sapin tag. Labour Minister called on Wednesday night at union leaders to discuss these topics. Making contact before entering the hard

.

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Decidedly, this championship spares nothing to Olympique de Marseille. After a disappointing season sportingly (OM is currently 10th in the league), players of the club will play their final game next Sunday of the season against Sochaux with a misspelling in the back! That is the conclusion yesterday after the presentation of the shirt "Third" of the OEM Adidas club, created by singer Akhenaten – leader of the rap group IAM-1990s – and the Argentine sculptor Pablo Reinoso. A tunic dedicated to the European Cup, having the distinction of being reversible: when you turn the black jersey, it turns orange.

"The grammatical rule is not obvious"

Orange, it is thus that the error happens. Worms designed by the rapper star of Marseille have a spelling mistake. They are found enrolled in upper back: "And our hearts are orange, as are the waves at sunset." However, the word orange agrees, except when used as an adjective. This is the case here. This departure from the French language cover only one of three new models and is invisible to a spectator from the stands. It must indeed look very closely intertwined worms to distinguish this "S" too. "We assume that fault, reacted Emmanuelle Gaye, spokeswoman for Adidas. This grammatical rule is not obvious and I guess it was not known to all French no fax cash advance. " He added: "As in any international company, the production line is long between the designer and product manager. We are looking where the error occurred. The most surprising is that the first prototype did not include error. "

Already on sale

Still, this error is a problem, the shirts have already been sold in shops of the club. "From the moment the product is not defective, it remains for sale, says Emmanuelle Gaye. We are considering how to correct the error. " Adidas, an estimated "tens of thousands" tunics with the misspelling, knowing that the OM annually sells 400,000 jerseys.

Already mocked by fans for its color, away from the traditional blue and white OM, so the shirt could see his popularity decline even further. What threatens the sales potential of these tunics. At 90 euros a basic version, some fans will likely require a perfect model. Unless an effect "collector", which would encourage them to rush on jerseys-like limited edition … "It is unclear what impact this will fault on our sales, concludes Emmanuelle Gaye. But the jersey is a favorite with players and fans. "

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M6 surfs his good hearing and displays good financial health. The group chaired by Nicolas de Tavernost said Thursday, a consolidated turnover up 3.6% in the first quarter of 2012, to 355.1 million euros. It is true that this growth owes much to self-advertising group, which rose by 3.2%. Starting with the audiovisual rights activity that benefited from the success of Twilight 4 video. But despite the sluggish market, the advertising revenue of the group grew by nearly 4%.

Even the M6, the flagship, can boast of an increase in advertising revenues in the first quarter from 1.5% to 164.5 million euros. Growth that relies on good audience ratings of structured grid around a solid prime-time thanks to JT "19 h 45 'and household scenes, but also a few key programs that Whether it is "Top Chef", magazines such as "Capital" and, finally, American series that still make the gravy chain. With an average audience share of 11.6%, M6 is thus gradually became the third chain of the audiovisual landscape.

What it can an aggressive advertising policy based on maintaining or even increase, its rates, where most incumbents rely on the flexibility in trading conditions. Proof: according to Kantar Media Institute, the volume of the M6 ​​channel advertising declined 14.2% over the period, while its gross revenues (excluding negotiations and regressive) increased.

Rate increase

This means that the group has increased the value of its screens. By comparison, TF1, whose gross receipts would not progress to the first quarter shows an increase of its volume of 3.4% pub. The first private channel is also best bidder in number of spots.

More generally, the history of television market has seen in France in the first quarter a decline in overall volume of 7.5%, according to Kantar Media. If the market does not collapse, it is primarily due to the dynamism of the new DTT channels. In its latest monthly report, the Institute notes that "this segment remains solid in value in March (16.7%) but stabilizes its activity by volume (0.3%). Cumulatively, the DTT channels grew three times faster than all channels (23.2%). "

A trend that is well reflected in the number of commercial digital channels M6 group – mainly W9 – which increased by 16% in the first quarter, to 38.1 million euros.

As for the coming months, the media buying specialists adopt a conservative position. Havas Media, a subsidiary of Havas, setting a trend of 0.9% of the TV market in the second quarter. In other words, the line thickness. The media agency fears the arrival of "a two-tier market that is expected to exacerbate the end of the year and in 2013 with the arrival of six new HD channels TNT in the fall. The fragmentation of audiences is going to intensify, increasing the risk to players on the market, "she argues.

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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.

When Samsung reports on its activities in France, this looks like a show of force. Thursday, March 22, local teams of Korean have an update on the business performance of the brand in France. The balance is simple: Samsung is number one on almost all markets.

Last year, Samsung has done just under 3 billion euros in turnover in the Hexagon, an increase of 18% compared to 2010. He now owns 40% of the French mobile market, "20 points ahead of number two (note: Nokia)," says David Eberle, head of the division in France Telecom. In 2011, 24 million phones were sold in the country, including 11.5 million smartphones. On the latter segment, Samsung also advanced in first place with 36.6% of sales. He is now focusing on its capacity for innovation and new products to strengthen its positions.

On the TV market, Samsung has also managed to conquer France. Last year, about 8.3 million televisions sold nearly one in four was a Samsung. A position that the Korean intends to maintain, despite an expected decline in the market which is expected to fall to 7 million units. To support sales, Samsung highlights the features of its TV connected as the availability of Skype.

Now the Samsung steamroller is on its way. In the computer first. The group is "a number of monitors on the market with 20.8% of sales, number one on the printer for individuals, and a number of digital signage, with over 50% of the market," said Agnes Van de Walle, head of the IT sector. With the launch of new PCs Ultrabooks, Korean intends to carve cruppers its competitors in this field.

But Samsung's ambitions do not stop there. Still very present in digital photography, it intends to change the situation, including through cameras with WiFi function. The brand is considered "legitimate" to offer such products, given its experience in telephony. One way to answer the picture of historical actors who consider themselves to be often the only "legitimate" for everything that is shot.

Korean is also seeking to strengthen its presence in home appliances, starting with the cold (refrigerator) and washing (washing machine and dishwasher). Not to mention the lighting: the first Korean LED will be in stores in the coming weeks! Samsung builds on the reputation acquired in the two markets are the flagship of the TV and the mobile to reach its global sales. A strategy that so far has paid off.

Apple has concerns for the rich. What to do with $ 100 billion in free cash? The question is more embarrassing than it seems for Apple. It happens more a presentation of results without the fuse questions from analysts on the subject. They call for the resumption of dividend-practice abandoned by a moribund Apple in 1995 – the establishment of a share buyback program or acquisitions. Even Tim Cook, Apple chief executive, admitted late February that his group has "too much cash", fueling rumors of a possible resumption of dividends. But this is not so simple.

Two-thirds of the cash Apple are outside the United States. The repatriation of this war chest, including the form of dividends, would have a huge fiscal cost. It could cost more than $ 22 billion in taxes, according to Bespoke Investment Group. The geographic dispersion of cash Apple is primarily due to its organization based on many subsidiaries abroad. With a first consequence: some countries, like China or Russia, limit lift cash. Apple is "sentenced" to spend there or all of the profits.

But the Californian company is also a willing victim in other territories. As Microsoft or Google, Apple has found his tax haven in Ireland. A small expatriation that allows Apple to display an average tax rate of 24.2% worldwide for its fiscal year 2011. Ten points lower than the average tax rate for U.S. companies.

This type of organization, however, has absolutely nothing special. All multinationals, or almost, have adopted the same legal and tax scheme. This selection draws the ire of American protest groups, who dream of seeing repatriated profits and taxed in the United States. Faced with these attacks, such multinationals, united in a group called Win America, do not hesitate to conduct intensive lobbying campaigns aimed at getting a tax amnesty.

More acquisitions

Failing to do this, each brings its solutions. For Apple, it passes through acquisitions of companies abroad. End of 2011, the U.S. has set his sights on Anobit, an Israeli start-up specializing in flash memory, paid $ 500 million. A transaction modest by Apple, but the most important of the last fifteen years. And that could foreshadow other. Apple also raised equity investments in production facilities in Asia, which would also be a way to secure its supplies. To takeovers abroad could finally be added that of patent portfolios. Apple has already completed several major transactions in this area, although for the moment, they were all performed in the United States.

Finally, the development of Apple Store (owned stores) is a good way to reinvest the cash. Tim Cook, Apple chief executive, has reaffirmed its commitment to strengthen the distribution network. Since we do lend to the rich, there is talk now of the upcoming Apple Store opening on the Champs-Elysees.

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MPs began Monday consideration of amending budget establishing social VAT … a missed. The Finance Committee rejecting the measure: the left there was a majority, in the absence of several UMP members. This should not prevent the adoption of VAT social session. But Jean-Marc Ayrault was easy to see in the episode "indicative of a malaise." The boss of Deputies PS UMP derides his colleagues: "I understand that it does not raise the enthusiasm on their part!"

The Executive is sparing no effort yet to defend the measure. Monday, Francois Fillon has found it necessary to "realign our costs compared to our competitors in the euro area." Last week, Bercy was assured that inflation does not fly away, that 100,000 jobs would be created and that the industry would be the first beneficiary of reduced charges that it contradicts the UMP rapporteur of the text.

The government is now trying to lay to rest the idea that the VAT increase will affect more modest. A note by the Ministry of Economy established that on average only 42.7% of household consumption supports the standard rate of VAT, which will be raised from 19.6% to 21.2%. The rest does not suffer any VAT (financial or medical services, rent) or a reduced rate (print, drugs, food, transportation, food, work …). Note that this is part of expenses affected by the VAT increase is "slightly progressive with income": it represents 43.5% of consumption of 10% richest households, against "only" 41.4% of consumption of 10% of low-income households. "It is incorrect to say that the VAT increase weighs most on the most modest," says Bercy. Forgetting that these households consume a significant portion of their income and save less.

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Not easy to swap clothes for those of David over Goliath without being criticized. For nearly twenty-five years, Apple has enjoyed the affection – not to speak of passion – to some extent by this small company, the maverick world of personal computers and a thorn in Microsoft Almighty .

In less than a year, Apple acquired the status of the business world's most expensive, top selling smartphones in the fourth quarter 2011, a number of computers at HP (by adding the sales of iPad and Mac) . The Apple brand has always had detractors. Its success has added to criticism, particularly those concerning working conditions in its Chinese subcontractors. These are nothing new, but the good financial results of Apple have redoubled the ardor of his detractors. In late January, the New York Times has published a lengthy investigation dependent, widely broadcast on the Net.

Working conditions of employees of Chinese subcontractors Apple are regularly placed on the hot seat. The U.S. media decry the use of children and failure to follow safety rules (poisonings and explosions occurred in Chinese factories).

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Same movement in the markets. European shares erased their gains shortly after the summit and the moral is not looking good this morning in Asia. In addition, the cost of borrowing countries in the euro area rose: Italian rate to 10 years treated with 7.1%, a level considered unsustainable in the long term for highly indebted countries.