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A quartet of companies launching a "private employment center"

Since last Monday, four leading companies in their business located in Provence-Alpes-Cote d'Azur in the same interest in employment. Eurocopter, the biggest local employer with 8,000 employees based in Marignane, the shipping group CMA-CGM, the semiconductor manufacturer ST Micro and Lyondell Basell (Shell Group) opened a "private employment center" in premises located at Aix-en-Provence.

"Employees who want to change jobs while staying in the area will expand their opportunities by having access to all proposals of the four founding companies," said Philippe Pezet, human resources manager at Eurocopter France Business Card Holders. A nonaggression pact was passed: no poaching wild! Everything depends on confidence in this club which no member of the 4 "has no commercial ties or competition" with the other three.

The objective of Space Mapp, the name of this "private employment center" is to secure the career paths of employees exceeding the legal boundaries of firms. Before an initial review in a few months of this employment land management, Eurocopter has organized to treat 2% of its workforce via this new device. Veronica Guillermard

Wall Street returns to earnings

The U.S. stock market finally closed higher on Tuesday after opening in decline, weighed down by two poor indicators. At the close, the Dow Jones advanced 0.44% at 10,860 points, the Nasdaq is up 0.41% to 2380 points and the S & P 500 by 0.48% to 1148 points. On Monday, all indexes have fallen about 0.4 to 0.5% after a session with a bang Friday.

Housing prices are spread down the U.S. in July, after three months of increases, according to the monthly S & P / Case-Shiller. For all the twenty largest American cities, they fell by 0.1% from the previous month (seasonally adjusted data) after rising 0.2% in MayThen at 16 hours, new whammy: the confidence of consumers who fell more sharply than expected, according to the Conference Board index released Tuesday, which fell 4.7 points from July to $ 48 5.

On the foreign exchange market, the euro was up sharply against the dollar, despite persistent concerns about the state of public finances of Ireland and the weakness of some European banks. The euro stood at 1.3589 dollars against 1.3448 dollars on the previous highest soir.Un over five months.

The shift from Dell

The side of values, Michael Dell, CEO of the former world number one PC, says the Figaro's turn to provide "complete solutions to businesses." He also claims to have about $ 15 billion of cash available to finance its external growth projects.The titles have been 0.55% to 12.71 dollars.

Monsanto heckled

Monsanto (-8.16% to 48.74 dollars): the SmartScan, on which the agrochemical group had high hopes, has not been up to expectations and failed to return to Monsanto shares lost market against its rival DuPont (1.37% to 25.24 dollars). The action Monsanto currently operates at a level lower by nearly half at its highest of the year to 87.06 dollars.

Always on the side of values, the Canadian group Research in Motion (-3% to 46.91 dollars), listed on Wall Street and known for its multifunctional phone BlackBerry, unveiled Monday in San Francisco a new tablet computer touch called Playbook, which wants to be "the first professional tablet.

For his part, Jabil Circuit (-0.86% to 13.77 dollars), a company specializing in services for the semiconductor industry announced 58.7 million profit. Turnover is 3.9 billion against $ 3.67 billion expected.

Also note, according to the WSJ, the U.S. central bank (Fed) would consider setting up a program soon to purchase under state an amount much lower than its previous program but on a very concentrated in the time. However, the program would have no time limit, or possibly amount according to the WSJ.

Budget 2011: Social Housing overseas spared

The final arbitration on the draft budget of 2011 were made Friday night at a meeting between Nicolas Sarkozy, François Fillon and Christine Lagarde Baroin. Reportedly, it was decided a spatial plane for overseas, the niche tax incentives for investment in social housing in the Dom to escape. The rate reduction offered by this device will remain at 50% in 2011. But this is the exception. Other tools of tax exemption through overseas, whether for productive investment or rental investment, will, themselves, planed by 10%. Thus the reduction rate of productive investment (purchase of equipment leased then to overseas companies) from 50% to 45%.

Moreover, the government finally opted for the abolition of the tax advantage of the newlyweds, divorced and PACS.For households, the tax increase caused by the planing niches will shield off, just as the recovery rate to 41% of the final installment of income tax and higher levies on savings.

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Vale wants to go public in Hong Kong

The autumn holiday and the relative quiet of the Asian markets have not prevented the establishment of Hong Kong to be the center of attention. The world's largest producer of iron ore Vale has announced Thursday at its board of directors, its intention to enter the Hong Kong Stock Exchange by the end of 2010.

Already listed in New York, Paris and Sao Paulo, the Brazilian company has a market capitalization of $ 148 billion distributed among 500,000 shareholders worldwide. According to a company document, the average daily trading value of $ 1.8 billion in the second quarter of 2010.

The board of directors of the group said in a statement that his intention was to get closer to its biggest market. Asia accounts for nearly 50% of its turnover, and it alone, China is responsible for more than a quarter of the activity of Vale.The company did not elaborate on the modalities of its introduction, hopes to attract Asian capital and wants to "provide an opportunity for investors to share the title throughout the world and all time zones."

The Stock Exchange of Hong Kong attracts the raw materials

The likely introduction of Vale in Hong Kong is not an isolated case. The island suffered fierce competition from Singapore and Shanghai is attracting more and more companies specialized in raw materials and whose dependence on Chinese growth increases.

Indeed, a Financial Times article points out that Hong Kong is this year, the second stock exchange in terms of introductions, just behind Shanghai.42 companies have raised 20 billion dollars against 9.9 in New York and 7 in London.

Last January, the Russian aluminum giant, UC Rusal has raised $ 2.2 billion during its introduction. Petropavlovsk, another Russian Mining announced its intention to rate their division iron, DRI, next month. It plans to raise at least $ 588 million.

Another possible outlet for the Stock Exchange of Hong Kong subsidiary of French food group Lousi Dreyfus, LD Commodities.Le Figaro speculates a dual listing in Asia and Paris. For the Hong Kong Stock Exchange, the stakes are high. The French company is one of the four largest operators on the world market for raw materials.

The Chinese Communist Party wants to subsidize Air France

Wuhan, about 900 kilometers west of Shanghai, is ready to pay the price for Air France moved into the airport. According to The Tribune on Tuesday, the secretary general of the Communist Party of the city, Yang Song, said in an interview with Dominique Bussereau, French Secretary of State for Transport on 13 September he was ready to subsidize the French company if it decides to serve Wuhan.

30,000 euros per flight

The Chinese Communist Party is said and ready to put on the table 30,000 euros per flight during the first year of operation only. Or 300 euros per return ticket, which costs at least 840 euros, calculates the Tribune.

When asked, a spokesman for Air France declined to comment on this figaro.fr information.Knowing that a long-haul becomes profitable after one or two years of service, the proposal represents Yang Song interesting financial assistance for the airline paydayloans.

This first European carrier in China, Air France-KLM already flies to six cities, providing 109 flights per week with its partner China Southern and China Eastern.

A new business class

Air France on Tuesday also unveiled its new class affaires.Selon BFM radio, each traveler will receive an armchair that turns into a bed two meters, the largest individual screens, new storage rooms and individual floor will modernized … These facilities should be present on the Airbus A330 and Boeing 777 from spring 2011.

In total, the airline would invest 110 million euros over the next two years to boost its business class.

The CAC 40 closed down sharply

The Paris Stock Exchange fell frankly Wednesday after hesitating between the rather negative reaction to the message of the Fed (Monetary Committee of the communique was released Tuesday evening) and, positive Asian markets early this morning. At the close, the CAC 40 dropped 1.30% to 3735.05 points. The London Stock Exchange ended down 0.44% at 5551.91 points.

The London Stock Exchange closed lower Wednesday, the FTSE-100 index lost 24.28 key values points, or 0.44% from Tuesday's close at 5551.91 points. The Dax index featuring the Frankfurt Stock Exchange loose 1.08% to 6208.33 points, weighed down by Deutsche Bank which lost 8.35% to 41.02 euros.

Nevertheless, the reactions are strong on the foreign exchange market. The dollar fell when the news release.Thus, the euro has benefited from these bouts of weakness: the European currency ratings on Wednesday afternoon at more than $ 1.33, the highest in five months. One that is a very strong resistance, in terms of technical analysis.

Gold hit a new record Wednesday, and document this morning at just under 1290 dollars an ounce.

The French industry is recovering

The industrial orders in the euro area fell more sharply than expected in July due to lower demand for capital goods and consumer durables. According to figures published by Eurostat on Wednesday, orders for the 16 euro zone countries fell 2.4% in July compared to June, giving an increase of 11.2% over one year. In France, the French industry is doing better but has not yet managed to regain the level of activity before the crisis. And the situation remains fragile.The rebound of the industry has been boosted by exports but has slowed since a month or two. And rising raw material costs could undermine the corporate treasury.

Earlier this afternoon, will be published the minutes of the last meeting of the Bank of England. Then at 16:30, the traditional weekly inventory of crude oil in the U.S. fall.

France Telecom ups its pawns in Morocco

France Telecom (-1.25% to 16.4 euros) has signed an agreement with Caisse de Depot et de Gestion (CDG) and FinanceCom to repurchase 40% of Medi Telecom (Meditel), the second telecom operator Morocco, for 640 million euros. The telecoms operator has submitted a package of measures to improve working conditions for employees and offer them a new "social contract" after the wave of suicide that rocked the company.

Societe Generale (-0.84% to 44.64 euros). Lehman Brothers Holdings has approached earlier this week the bankruptcy court in New York to end a dispute that pitted the General Corporation for eighteen months. If the mutual agreement between both parties is approved by the judge, Societe Generale will pay $ 445 million.

Note that the Credit du Nord, a 100% subsidiary of Societe Generale, announced Wednesday it had completed its acquisition of Société Marseillaise de Credit (SMC) with the group BPCE (People's Bank – Savings Bank) for 872 million EUR payday loan lenders.

A follow Natixis (+0.23% to 4.36 euros), which has chained two sessions in a row as bottom side of the CAC 40, while the bank has integrated the benchmark index of the Paris stock exchange Monday morning.

Sanofi exposed to losses of activity record

Sanofi-Aventis (-1.38% to 50 euros) has announced the failure of a Phase III (the last before the application for approval) of a treatment of critical ischemia of lower limbs, a condition often leading to gangrene and amputation.

Goldman Sachs announced Wednesday that the European pharmaceutical sector is fast approaching its highest losses of revenue from the sale of new generic drugs. According to the U.S. through the groups most at risk are the French Sanofi-Aventis, Novartis, and AstraZeneca and GlaxoSmithKline UK.

As for dealers, Barclays announced Wednesday it had raised its board of Carrefour (-1.78% to 39.8 euros), from underweight to overweight.Meanwhile, Swiss bank UBS, which is neutral on the value, from 37 to 40 euros in terms of price target. Barclays said to remain generally positive on the sector of food retailing in Europe.

Side EADS (-2.53% to 19.1 euros, p lus sharp decline of ACC 40), its direct competitor Boeing is close to signing a contract with India in the defense sector of $ 3.5 billion , which would make it the largest bilateral agreement in this area Wednesday wrote the daily The Economic Times.

Louis Dreyfus Stock Exchange?

Outside the CAC 40, Air France-KLM (-1.53% to 11.56 euros) has announced the creation of a joint venture with China Southern on revenue sharing on the Paris-Canton and will enter into force on the first November 2010.

Belvedere (-3.87% to 22.1 euros). The Court of Appeal of Dijon confirmed the decision of 15 December 2009 of the Commercial Court.He had then recognized the full 375 million debt he owed to bondholders. "So the backup plan approved in November 2009, which already provided for the repayment of this debt in ten years remains unchanged," said Belvedere, who will lodge an appeal.

According to reports in Le Figaro, the giant Louis Dreyfus Trading examines several scenarios, including the IPO of LD Commodities.

Spir Communication (18.19% to 24 euros) on Wednesday announced a reorganization of its joint participation with the Norwegian Schibsted, which it will resume its shares in the Lacentrale.fr site in exchange for his own participation in the site leboncoin.fr .

Trading in Team Partners suspended Wednesday pre-market at the request of the company, pending a statement, NYSE Euronext announced.The title company business service ended at 60 cents on Tuesday. Ditto for the land Acanthe.

No publishing company is expected at the Paris Stock Exchange on Wednesday.

Saffron grows in security

Jean-Paul Herteman, CEO of Safran, justifies the operation launched by the French group in the United States, for one billion euros.

LE FIGARO .- Safran announced Monday morning an acquisition in the United States. You will she achieve your goal: achieving 20% of the turnover of the group result in security?

Jean-Paul Herteman .- We are on the path we have set ourselves. We will acquire three activities of US L1: biometrics, identity documents, that is to say essentially the driver's license and passports, and recruitment. Many states have delegated to private companies the approval of persons engaged in certain activities. For example, a school bus driver must receive approval.These three businesses, which represent three quarters of sales of L1, generate about $ 500 million in sales, with growth in double digits. The fourth activity of L1 will be purchased by a third.

With the acquisition complete the company he Morpho which includes your business safe?

It is rare to find such strong complementarities geographically and technologically. The main activity of L1 is the United States. We, we are present with the company Morpho mainly in the rest of the world. L1 is, for example, a tip in the iris recognition and face. We bring technology to L1 she does not and vice versa. With this acquisition, we become the number one global biometric security to the Japanese NEC and U.S. Cogent.In billion euros in turnover in its current consolidation Morpho plus the turnover of the acquired businesses, totaling 1,350 billion in 2009, with substantial growth prospects and the passage of 5700 in 7000, with 2200 in the United States. It's a great achievement for a start-up born in the 1980s of a spin off from the laboratory of the Fontainebleau School of Mines of Paris. This is further proof that the French science can generate employment and business.

Negotiations were they fast? Are you going to overpay for acquisitions that prevail?

Discussions have been rapid. We reacted quickly. We pay a fair price, around a billion euros in enterprise value for beneficial activities, increasing, with a backlog of nearly three years of turnover.For example, contracts for driver's licenses in 45 states have a duration ranging between 3 and 7 years.

Our offer for the whole society is however subject to several conditions. We must obtain regulatory approvals including those of CFIUS, the body which looks after the interests of the United States in sensitive sectors. It also requires that the assignment by L1 activity that we do not buy into reality. It will take several months.

Many companies are active in the security market. Saffron is in a healthy financial situation with a debt estimated at 200 million around the end of the year. Are you going to make new acquisitions?

We do have a real financial flexibility and remain responsive, but we have no new targets.We acquired this summer an American specialist electrical wiring carrying 100 million dollars in sales.

But we must take the time to manage the integration of L1. This acquisition will enable us to achieve about 15% of our turnover in security in 2011. We will achieve the target of 20% of turnover with sustained organic growth will continue. Because this market is very buoyant. We have, for example, was selected for a major market in India.

Are you still determined to take possession of Zodiac?

We continue to believe that the combination of Zodiac and Saffron offers real industrial complementarities.We take the time necessary to convince shareholders of the Zodiac.

Do you fear the consequences of cuts that will affect the defense budget?

We have a very strong order book for the next two to three years in the defense sector.

The families are closing ranks around the Zodiac

Faced with the possibility of an unsolicited offer from Safran, Zodiac organize his defense. Its main family shareholders have signed Friday a "assignment agreement" which runs until April 26, 2012. The securities subject to this agreement represent a total capital 29.5% and 40.5% of exercisable voting rights, said the aerospace group. In fact, the family shareholders were already bound by a "commitment to conservation", with mutual rights of first refusal, until December 21, 2011.This wall was probably not enough: the families Louis Desanges, Didier Domange, Robert Marshall and Marc Schelcher and have "consolidated their commitments" to retain their titles. In parallel, the family holding company Peugeot and Land Financial ownership position of 5.9% and 5.1% of the capital of the voting rights of Zodiac, has terminated its shareholder pact which bound him to some family shareholders Zodiac. However, the company insists, the holding company intends to remain at around the table and "supports the strategy promoted by management."

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Regulation: French banks put a stop

Last Sunday, the Basel Committee, the international body responsible for developing the operating rules of the banking industry, announced the requirements that apply to the future. The standards, including the implementation will run through 2018 have been considerably strengthened, with the explicit aim of avoiding another financial crisis. President of the French Banking Federation (FBF) from 1 September, the boss of BPCE François Perol reacts to this event on behalf of the profession.

LE FIGARO. – What the French banks feared-that is to say an excessive strengthening of the requirements of their regulators, has it occurred last Sunday during the meeting of the Basel Committee?

Francis PEROLS. – The strengthening of capital adequacy of banks is necessary. The rest was an instruction to regulators by the Heads of State and Government of the G20.What was decided on Sunday is the translation of this commitment, in a version very demanding. Judge for yourself: in practice, the minimum capital that a bank must be multiplied by more than 5 by the new regulations. Indeed, not only the minimum ratio of capital raised from 2% to 7% risk, but also the definition of capital that can be taken into account in calculating this ratio is made more restrictive. In total, this will greatly increase the amount of capital that banks must be equipped.

How, in the case of French banks?

The French banks did not wait for new regulations to strengthen their capital. Since the crisis, they have increased their capital over 30% on average to be placed well above the minimum required by current regulations.This is why the French banks are already solid banks, as demonstrated resistance tests that Europe has made in July. And their model is robust enough that the capital requirement set by Basel 3 may be filled by setting aside a portion of their results. Regulators have indeed had the wisdom to give us enough time for that …

So where is the problem?

All things being equal, have more capital for the same activities, it means more pressure on the risks we take, therefore, on credit, and the profitability of these risks and therefore on interest rates . The risk is therefore a credit less dynamic and more expensive. I would add that the work of regulators are not completed.It remains to further clarify the definition of capital, as well as rules on banks' liquidity … Especially, the issue of systemic risk is on the table. Treating it with a new overhead capital which would apply to larger institutions would be a grave error when they enter an area unreasonable, in which those banks could no longer fulfill their mission of financing the economy. In my view, the systemic risk is an approach which should focus particularly on the organization, transparency and market surveillance. On all these subjects, the French banks remain extremely vigilant and mobilized. With a strong message with regard to capital: that will do!

Last Monday, bank shares have risen sharply in stock. The markets seemed relieved.Are not you exaggerating the impact of Basel 3?

Let us not focus too much on daily changes cheapest personal loan rates. More fundamentally, the markets had anticipated a large part of the new rules. In any event, we can not say that imposing 7% minimum capital ratio for banks, this is nothing! We were right to call the attention of authorities and public opinion affect the growth of this reform. The companies also say the same thing as us. Never forget that in France, banks provide three quarters of the financing of the economy.

Do you fear a tax credit?

A tax credit included in the draft state budget for 2011. Other European countries like Germany or the United Kingdom, have indicated they would create their own tax. I would like to mention three things of common sense. First, remember that tax the banks is tax credit, therefore the economy.Next, note that the bank support plan has not cost the French state, on the contrary, this is not the case in other countries where a tax credit is created. Finally, ensure that the tax, if there is tax does not disadvantage the French banks compared to foreign competitors, since all countries have no tax.

Georges Pauget and Emmanuel Constans have been handed a report on the pricing practices which is the basis for further negotiations between banks, government and consumers. Your profession has more work to do …

This report has the merit of presenting a comprehensive approach. He recalled that the question of rates can not be separated from the overall relationship model, and near the French credit institutions maintain with their customers.He also noted that the bank charges in France compare quite favorably to the practices of other major European countries. However, we can still make progress in terms of tariff transparency, clarity of information given to the client, avoiding incidents that bank must be able to anticipate. And if there are abuses in pricing, we must correct them. We have made concrete proposals. For example, we propose that each bank publishes the tariffs of the ten most common banking services, the list is the same for everyone. We would also, along with a detailed description of the package the most common.Other proposals are now on the table of the Minister, for example to limit the price of payment incidents for the most vulnerable customers.

If you had set a goal for your year as president of the FBF, what would it be?

Convinced that French banks are in the service economy. The crisis has been able to raise doubts, because it revealed here and there risk taking reckless, very far from their funding mission. In some countries, banks have put their economies to its knees.In France, no bank has fallen, much better, French banks have continued to do their job during the crisis: France is one of the few European countries where, in 2009 in the heart of the crisis, stocks loans have increased while the economy was in recession.

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Lucien Barrière will be listed on October 1

Groupe Lucien Barriere, which owns 37 casinos and 14 upscale hotels, on Thursday morning gave details of its forthcoming IPO. The quotation of Lucien Barriere begin Oct. 1 in compartment B of the Paris Bourse.

The price of each share at the time of entry into the Paris market will be between 16.10 and 19.60 euros, a price deemed "reasonable CEO Dominique Desseigne, broadcast on BFM this morning. That values the company between 575 million and 702 million euros.

The boss praised the project for fundraising in the financial markets because it represents "an important step in the development group."Lucien Barriere has "many assets to accelerate growth, further improve its performance in qualifying prospects rebound in the leisure industry, and create value for its shareholders," he said.

Synergies to

Dominique says Desseigne have thought about a "new concept" to counter the effects of the crisis and the abolition of smoking in its casinos. He tries to play "two-way synergy between the explosion of Internet poker and casino hard." Thus, the universe of the Internet "loves to confront" face-to-face with the reality of casinos and vice versa. "Similarly, casinos and hotels remain "together" because the synergies are strong between the two activities, particularly during poker tournaments that host hundreds of playing internationally.

Lucien Barriere announced Thursday that its website will be launched online poker on September 17 in the evening. To launch this new product, Lucien Barriere has partnered with the French games. Together they want to become the national champion of poker on the Internet.

Accor will sell 49% stake

The hotel giant will sell all its shares in Lucien Barriere, a 49% stake, or 17.5 million shares.The assignment of Accor participation "part of its strategy to focus on hospitality, its core business," said Accor.

The capital structure of Lucien Barrière will she family? Yes, says Dominique Desseigne on BFM, Asura he remains firmly at the head of the group.

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The owner gets to carpool Ucar

"The rental cars, it can be free." Thus Jean-Claude Puerto Salavert, President of UCAR, praises the new concept of "self-mobility" deployed by the rental of vehicles, in partnership with the site Covoiturage.fr, the leader of the carpool centralizes more than 85% of ads placed in France. The two companies signed an exclusive agreement to launch a carpooling service in the car rental agencies.

A concept called "Ucar Station." Customers renting a vehicle in an agency Ucar offering this service via the Internet or through the iPhone application Comuto. In their book, they are offered to reduce the cost of hiring by welcoming passengers. If they accept this principle, their offer is immediately relayed to the site Ucar.covoiturage.fr. Passengers involved and the driver's expense (rental, tolls, fuel, etc..).

The maximum rate of 6 cents per kilometer drive from Paris to Lyon costs about 30 euros, while Paris-Nantes costs 25 euros and 40 euros from Paris to Bordeaux, argues Ucar. "We will not raise rates during periods of heavy traffic," says Jean-Claude Puerto Salavert.

For now, this service is available in a dozen cities, including Paris, Lyon, Marseille, Lille and Bordeaux. The owner plans to open 25 "Ucar Stations" this year and 50 in 2011. "Each of our 250 branches in France aims to become one Ucar Station," says the boss of Ucar, which means "upset the field of car rental.

The promise of low prices

"Today only 6% of the French lease vehicles because they consider prices too high," says Jean-Claude Puerto Salavert. Ucar has thus specialized in renting cheaply, including by launching its offer "24 hours for 24 euros.Its positioning has attracted 500,000 customers in 2009. By offering carpool services, Ucar's goal is to attract 100,000 additional customers in one year.

The launch of "Ucar Stations" and that, three days before the first National Day of carpooling, scheduled Sept. 17, is a strategic choice which is riding a trend fast cash now. Carpooling, which allows users to save, has the wind in their sails. "Owning a car is a cost of 6000 euros per year on average," said Frederic Mazzella, president of Covoiturage.fr.

According to a TNS Sofres poll conducted for the website in December 2009, 48% of French people have a workplace served by public transport. Yet, 84% of trips in France is by car. Carpooling, however, has only 1% of followers, according to a study published in August Regus Group."The potential of carpooling is immense, and our website is growing exponentially," said Frederic Mazzella, who do not communicate in the turnover of Covoiturage.fr, stating only that it has reached "hundreds of thousands Euro "in 2009 and carried 1.5 million people.

The Green Wave

A more promising potential as carpooling lampooned the ecological argument, in which consumers are increasingly attentive. Covoiturage.fr has calculated that its activity has saved 90,000 tonnes of CO2 in 2009. "Our success also depends in part on the network effect," said President Covoiturage.fr. The site is not just a search engine proposed shared paths, but also a real community, which has 750,000 members so far.

Finally, Covoiturage.fr diversifying its business by marketing its services.The site has already signed partnerships with several companies – such as Castorama, Vinci, Carrefour, Ikea, Vinci, Stade de France and the RATP – to whom it provides platforms carpool white label. Services that these partners are in place for their own customers or to their employees. Carpooling is undoubtedly a means of transportation that is gaining ground!

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