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EADS is developing a successor to the Concorde

Paris rally in Tokyo in 2:30. It may be possible around 2050. EADS, the parent company of Airbus, has initiated studies to develop a prototype that physically resembles the Concorde, whose last commercial flights stopped in 2003. The engine of the aircraft of the future for business travel with a capacity of 50 to 100 seats, would at once to fly at high speed while being environmentally friendly, since its goal is zero tailpipe emissions. It will take at least ten years of development before considering the first test flight.

The project is called ZEHST through a partnership between EADS, ONERA, the French aerospace research lab as well as Japan. A feasibility study financed by the Directorate General of Civil Aviation (DGCA) and its counterpart Japanese, was launched.It is based on the initial results of research carried out by Astrium, a subsidiary of the giant European space aeronautics, as part of its program of sub-orbital aircraft, the Space plane.

Three types of engines

The unit will have three types of engines already on the market that will be used during different phases of flight: take-off up to 5000 meters with a turbo-jet close enough to those fitted to aircraft today, but "these engines will be powered by biofuels third generation developed from growing algae so clean," said Jean Botti, chief technology officer of EADS business card design. When climbing in altitude beyond 20,000 feet at 0.8 Mach, the unit will use cryogenic engines such as the Ariane launcher, powered by hydrogen.Then for the transition to its high speed (mach 4) and a very high altitude (32,000 meters) use ZEHST called Ramjet engines (now fitted to cruise missiles). A model is on display at Le Bourget.

Meanwhile, EADS is working on another concept known as Voltaire, an all-electric machine whose engine would not be placed under the wings but in the tail. The wings would obey the principle of morphing itself adapting to the different phases of flight, said Jean Botti in substance. The device is designed to make short trips with 50 to 70 passengers.

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The right choices to reduce its ISF

Three and a half month break. Traditionally scheduled for June 15 statement, and therefore the simultaneous payment of the ISF, is unusually extended this year to 30 September. Additional time to consider the tax-free solutions. While the general principles remain the same, the practical, they, live.

• Combining the highest rate of tax reduction, 75%, and the highest ceiling taken into account, 50,000 euros, generosity proves the most profitable. To be considered, donations should be made for organizations listed in the law: including foundations of public benefit, research institutions or public or private higher education, and training businesses.

Despite the undeniable tax advantage given to them, foundations fear being victims of the new tax data.Without having exact figures, most of them believe that people who are outside the ISF this year are widely distributed among their donors. To cope with this situation, Charhon Francis, president of the French Center Foundation, calls on governments to increase the cap considered to 100,000 euros. Others, like the Little Brothers of the Poor, remind their donors that they may use the original formulas as temporary donation of usufruct. The property in question, whose incomes are sold for at least three years, no longer fall within the tax base to the ISF.

• Direct investment in SMEs is the second track the most effective in limiting the ISF. Now, only 50% of payments are taken into account as against 75% previously and the maximum amount deductible is planed from 50,000 to 45,000 euros.To prevent certain abuses of the past years, several types of SMEs have been excluded from the device. They are those engaged in real estate or financial activity and those that operate power generation by wind or solar. Note: It is possible to mix investments in SMEs and donations to foundations and accumulate wealth tax cuts. But the ceiling is taken into account for 45,000 euros and 50,000 euros, not as is the case for donations only.

• Other support for tax exemption, the FCIC and FIP are subject to new rules. These funds, which invest in unlisted companies, are eligible for a reduction in ISF of 50% of the share invested in eligible SMEs in the limit to 18,000 euros. New constraints were imposed this year.They have no such opportunity to focus on certain sectors, such as art, jewelry, wine cellars, renewable energy.

The FCIC must invest at least 60% of their assets in eligible SMEs in the abatement of ISF, but they have a room for the rest of their investments. Some FCIC or FIP continue to use it to diversify some of their assets in listed securities. Others prefer to invest in eligible SMEs all capital raised. "This helps to maximize the tax benefit.Indeed, only the portion of the assets of FIP or FCIC invested in unlisted SMEs entitles the ISF reduction of 50%, "says Fabrice Imbault, managing partner of A Plus Finance.

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Rights football: showdown between the LFP and Canal +

This Friday at 11 am, the Professional Football League (LFP) will kick off the award of broadcasting rights of football championship of France from 2012 to 2016. The stakes are high, because these fees represent 668 million euros per year for professional clubs. This year is the outstanding total. On the one hand, the LFP to maximize its revenue, on the other Canal +, L1 traditional broadcaster, wants to reduce his bill, a current amount of 460 million euros. In 1999 and 2004, the LCS had raised the stakes by pitting Canal + and TPS. GST but was bought by Canal +. In 2008, the LCS had found a new ally with Orange which spent 208 million per year for the big game on Saturday evening and mobile rights. But Stephane Richard, the new CEO of France Telecom, has thrown in the towel. Canal + remains only candidate.

Between the LFP and Canal +, a real dialogue of the deaf.From the outset, the encrypted string against this plague tender premature and believes that she wants only to maintain its current offer with the big game Sunday night and three magazines. For his part, Frederic Thiriez, president of the LFP, claims that the outcome of the tender should be equal or superior to 668 million today. The economic equation is complicated: how to achieve this amount if Canal + does not put more than 460 million? The hole is potentially 200 million.

Prize Structure

"Not at all," Jean-Pierre Louvel tempers, chairman of the Union of Professional Football Clubs UCPF. "With the explosion of smartphones, the mobile may be worth lot more than the current 60 million paid for by Orange. Secondly, the LFP can make its product more attractive by improving its exposure with a game Friday night and a special day during the winter break, "he says online payday loan lenders.In fact, the LFP and the law firm Clifford Chance should put together a bid with many prizes: a match on Friday evening, a Saturday afternoon games on Saturday evening, a Sunday at 2:00 p.m. , games on late Sunday afternoon and the big poster on Sunday evening. Added to this lot and the three mobile magazines.

Canal + contends that the splitting of lots reduced the value of the whole and that the chain can not explain the matches from Friday evening to Sunday evening on the air. Above all, the group believes that the key is not lots but structuring the necessary reform of financing of French football. This can mean a reduction from 20 to 18 clubs of L1 and a lower financing League 2 which receives 19% of the amount of football rights, or 120 million euros per year.Clearly, to reduce the bill of football, Canal + offers to save on money paid to the L2 and concentrate on the manna of human L1 18 clubs instead of 20. Categorically rejected suggestions by Jean-Pierre Louvel the UCPF. "The L2 is used to form the top players and eliminate two clubs L1 would have serious consequences on the regional economy." But the big clubs, Lyon, Marseille, Lille, Bordeaux, Paris … might be tempted by a championship tighter.

The tender may thus be complicated. The LFP has put a reserve price on all lots, it might be unsuccessful. Negotiation of mutual agreement between the LFP and Canal + could then be opened. And if all lots not find a buyer, the LFP has the possibility to expose some matches on its TNT channel future pay, CFoot.This channel will be widely distributed on satellite and cable ADSL and fans can subscribe to monthly or deed.

The temporary assignments are becoming shorter

The acting continues to support job creation. In progress since March 2009, this indicator is very sensitive to the economic climate has again registered an increase in the month of March, according to the employment center. It rose by 0.6% over one month and 14% in one year. All sectors recorded an increase in their numbers acting, except construction, affected by the reduction in tax benefits related Scellier. In 2010, the interim had already jumped over 20%, explaining to him almost every single job creation.

The job market is fragmented, however, still more: in parallel with an increase in temporary employment in total employment, the tasks assigned are becoming shorter. For three years, their average duration is in steady decline: 10.1 days in 2008, 8.9 days in 2009, 8.7 days in 2010.Missions of less than two weeks, which constituted 81.5% of contracts in 2010, are growing steadily, employment center is in a note. As for very short assignments that do not exceed the day, they accounted for a quarter of that date the temporary employment total.

Seniors join the ranks of temporary

If all sectors and all age groups are affected by these developments, the elderly are most affected. The average duration of a mission returned from 10.4 days in 2008 to 8.3 days in 2010 for over 50 years. Sign of growing insecurity of job market, older workers are also more numerous (7.6% in 2010) to swell the ranks of temporary staff, as well as managers and associate professionals (8 , 3%).

Even among workers, skilled gradually supplanting the unskilled.Youth and workers, however, continue to provide the bulk of temporary staffing. A further positive sign: as the economy recovers, temporary assignments frequently lead to a more permanent contract, CDD or CDI. According to a poll released Thursday and conducted by Prism, the union for professionals in the interim, and the Observatory of business and employment, 29% of temporary workers were hired in March 2011, against 20% in 2010.

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The Paris Bourse pauses

The CAC 40 will not stack with a seventh consecutive month of meeting this Friday. Or so that presage early trade. At the opening, the benchmark index in Paris begins with a decline of 0.27% to 4093.61 points.

The Frankfurt Stock Exchange is in equilibrium at 7475.22 points. In London, the markets are closed. The wedding day princely between William and Kate was indeed decreed holiday.

Investors follow the footsteps of Asian markets, Tokyo without (closed due to holiday) were very hesitant after the announcement of a U.S. growth slowed in the first quarter. In Paris as in Wall Street, many traders were yesterday conceded that the new had yet been burdened by other negative indicators.

Decline in German retail sales

For this last day of the week, risk-taking should be smaller.In addition to the marriage, the eyes will be on the expected flurry of statistics. In France, the producer price of French industry continued in March for the sixth straight month of sharp increase their movement, spurred by soaring oil prices, Insee said Friday. The increase is 0.9% from the previous month, after +0.8% in February

German retail sales fell unexpectedly in March in Germany, as consumers bought fewer groceries on the shelves and textiles in a month where inflation has exceeded 2%.

In the euro area, unemployment is on the agenda.

Then the United States, the festivities start with the incomes and household spending in February (14.30) and the Chicago PMI for April (15.45) and the index of consumer sentiment this month ( 3:55 p.m.).

Side currency, the euro remains strong against the dollar at 1.4847 dollar.Oil markets appear, they, down, worried about the state of the U.S. economy. A barrel of light sweet crude for June delivery lost 45 cents to 112.41 dollars and that of Brent North Sea also June delivery yielded 17 cents to 124.85 dollars.

Values ​​to follow

News companies should also serve markets:

Total: -0.31% to 42.87 euros

The tanker jeudila announced takeover of U.S. manufacturer SunPower solar panels in view of creating the "world leader in solar energy."The group also released Friday the results up in the first quarter, thanks in particular to the sharp rise in prices of oil and gas, but production was down by 2.3% mainly because of the Libyan crisis.

Accor: -0.46% to 30.11 euros

The group announced Friday to study a possible sale of the catering Lenôtre, as part of his refocusing on the only hotel trades.

GDF Suez: -0.27% to 27.69 euros

The group announced the launch of a new subsidiary trading on energy markets with the ambition to compete with industry heavyweights such as Barclays, Goldman Sachs, and E. ON EDF Trading

Legrand: -0.05% to 30.40 euros

The group announced the acquisition of SMS, a leading Brazilian electric inverters, in order to strengthen its position in a growing market.

Ingenico: 0.53% to 33.27 euros

The group denied on Thursday evening news reports that he would be interested in the activities of online payment from Hi Media.

Gifi: 4.23% to EUR 64

Ginestet family announced Thursday its intention to launch a simplified tender offer for the shares Gifi delist the distributor of first prizes.

Vinci confirms its objectives

Saint-Gobain: -0.56% to 46.89 euros

The group confirmed its 2011 targets after a first quarter marked by an acceleration of growth in its business thanks to the contribution of most geographic areas where it is present and better weather.

Vinci: 1.09% to 45.25 euros

The group also confirmed its full-year after a turnover up 25.4% in the first quarter, above market expectations, driven by acquisitions last year and its activities in the construction and energy.

Compagnie des Alpes: stable at 22.74 euros

The group reported Thursday a turnover up 5.8% for its first semester of the 2010-2011 fiscal year to March after a winter characterized by early snowfall.

Group Crit: 1.47% to 23.45 euros

The group again expressed confidence Thursday for earnings growth in 2011 after having posted a revenue increase of nearly 22% in the first quarter.

Saft: -2.54% to 30.47 euros

The group confirmed on Thursday its forecast for revenue and earnings for 2011 after releasing first quarter sales up 11%.

Bull: -4.91% to 4.45 euros

The group confirmed Thursday that the goals the group has set medium term, after realizing the first-quarter sales were down 0.9% to 270.8 million euros.The group also said that orders had risen to 313.8 million euros in Q1.

Fimalac: 1.23% to 29.66 euros

The group reported Thursday after the closing sales up 21.1% to 341.5 million euros thanks to the rise of nearly 17% of revenue from its credit rating agency Fitch.

Renault (-0.23% to 40.58 euros) will hold a meeting this Friday to 15 hours.

Belvedere will unveil its fourth quarter results, EDF Energies Nouvelles in sales the first quarter and Trigano its second quarter results.

The Livret A could reach 2.5% in August

Encouraging news for investors. After an increase from 1 February – he was then increased from 1.75% to 2% – the rate of the Livret A could rise again this summer. According to economist Cyril Blesson interviewed by the daily newspaper Les Echos on Friday, is expected to reach 2.25% or 2.5% to 1 August.

To make this forecast, the founder of Cahiers de l'Epargne based on the mathematical formula used to determine the remuneration of the booklet and is applied twice a year (February 1 and August 1). Furthermore the level of interest rates, this calculation takes into account the increase in prices. However, for several months, inflation is back and the pressure on energy prices would feed into the next month.

This likely further increase will certainly confirm the French interest in what remains their preferred placement.After a bit snubbed the Livret A in 2010, they have overwhelmingly chosen in early 2011 to place their savings payday loans in 1 hour. Between January and March, the booklet has attracted 7.38 billion euros, against only 5.58 billion euros for the full year 2010. This brings to 202.4 billion euros, the total of the Livret A. Meanwhile, life insurance, the other investment popular with families, should instead suffer from uncertainty that hovered on Taxation. Early this year, the collection fell by 11% compared to January 2010, to 11.8 billion euros.According to Cyril Blesson the decline throughout the year 2011 could reach 12%.

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Premium for employees: Lagarde forced against any amount

On Monday, Minister of Economy and Finance said on LCI it was not in favor of "binding" of the project value premium "exceptional" employees of companies that pay dividends. It indicates rather consider "a mechanism for excluding social security" so that companies can distribute the envelopes to their employees. For the resident of Bercy, no question that the government imposing the measure unilaterally. According to her, he is "very important that the amounts, terms, how everything fits together is negotiated between employers on the one hand, and other employee representatives."

As for the amount of the premium, it must be considered, according to Minister of Economy, as the ceiling up to which the state will charge exemptions.Furthermore, they related only to the premiums actually paid, she said, ruling out an exemption for very small (very small). For these provisions "should apply as soon as possible, these should be included in the draft supplementary budget of June, the Minister added.

The chamber was quick to applaud such statements. "Yes, this is good news," responded the president, Laurence Parisot, a few minutes at the microphone of France Inter. Judging from the minister's "very reassuring", the boss of bosses, however, has protected it from a flat.She expects to "see the mechanism" referred to by the government in "this idea of ​​connection with the distribution of dividends."

A change of edge is drawn

The government, which seemed to have made it a point to upward pressure on wages and hence purchasing power, he changed his tune? Less than a week after the announcement of this premium Baroin, the budget minister, and two days later Xavier Bertrand, Minister of Labour, recalled its "mandatory", it is a change edge that emerges. As support for this thesis, the Ministry of Economy is expected to announce on Monday the wage freeze in the civil service in 2012, according to Les Echos payday loans guaranteed no fax. And that, for the second consecutive year.

For now, only seems to increase the current minimum wage by about 2% by this summer."It is very likely that we will have a minimum wage increase of 2% on 1 July," said Christine Lagarde has on LCI. It could go from 1365 to 1392 euros euros, with an hourly wage of 9.18 euros. But this is not a direct measure sought by the government. Because this increase is included in the texts: it is "automatic", as the Labor Code, when the price rises to 2% year since its last adjustment.

Opposition side, the government is already positioning cringe. Monday, Pierre Laurent, the secretary general of the Communist Party, spoke of "hocus-pocus" on the draft government bonus. "The case smells of scam, full nose," he said in a statement.Nicolas Sarkozy tries again to exist in an area where it has particularly failed: the purchasing power of the French. "To the General Labour Confederation (CGT), the pill is probably as hard to swallow. In a statement dated April 13, she aspired to include "a general increase in salaries of the public" as private, "a minimum wage to 1,600 euros," and to "do away with random forms of compensation."

Minister against a debt restructuring

Christine Lagarde has opposed any debt restructuring, Greek, Irish and Portuguese. LCI, she described the possibility of potentially "catastrophic", referring to the "greatest difficulty" would have to run these countries to reconsider the financial markets. Asked if he had to restructure the debt of Greece, Christine Lagarde said in a firm with a triple 'no'."This is not [to] talk to," she added.

Advertising: TF1 hard to start in 2011

Morale is at half mast at TF1, which held its general meeting Thursday. The poor performance of hearing the first quarter will, according to financial analysts, the impact on advertising revenue. The consensus of analysts, they would be down 2% versus the first quarter of 2010, which had posted 355 million euros. It must be said that the first private channel has been unlucky in the first months of the year with JT sluggish and entertainment in free fall.

"In 2010, free channels have pulled their growth in a proactive policy volume. The screens are well filled in 2011, the price effect which is structuring. Yet the latter is related to hearings. And, in this case, they have not always been the rendezvous for TF1, "said Sergeant John the Baptist, the brokerage firm Gilbert Dupont.This was particularly the case in prime-time portion of which sank with the accident "Square VIIIP. The lower rates would have been understood for advertisers between 14 and 24% and it was not until the introduction of the game "Money Drop", Endemol, in a few weeks to recover.

The situation is quite different with regard M6 whose advertising revenues are up 7% to 162 million euros in the quarter. Good hearing chain Nicolas de Tavernost including the JT and "Scenes from" support price of advertising. "TF1 had some crashes while hearing M6 surfs its success," said Julien Roch, a financial analyst at Barclays. This virtuous growth is now linked to the rising cost of grid announced last September and is expected to be on the year, between 5 and 10%.A boost that seduces even more advertisers and audiences are waiting for you.

Disappointment in the markets

However, the side of diversification, the group experienced a fall impressive range of analysts estimated between 16 and 20% due to the collapse of sales of Bordeaux and a weaker performance on the market broadcasting rights for lack of a twilight or indoor video.

On Thursday, during TF1 fell 4.19%, to 12.35 euros, while that of M6 lost 2.22%, to 17.85 euros. However, analysts remain calm. At European level, falling valuations of media companies is around 20%.

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Cesare Geronzi in 2007 in Rome. Photo credits: TIZIANA FABI / AFP

Eric Besson wants to review gas prices and plans to tax the oil

The Energy Minister, Eric Besson, who attended Friday at Matignon in a meeting on the theme of soaring energy was delivered this Sunday on Radio J, a change in the calculation of gas prices . Keeps the current formula, partly indexed to oil prices, should indeed lead to a further price increase on 1 July. An increase that could go wrong with consumers who are already undergoing an increase of 5.2% in early April, an inflation of 20% over one year and 60% since 2005.

"The government's objective is very clear: it is, in a context of rising energy prices at the international level to protect the purchasing power of the French," said Eric Besson, who considers "unacceptable" the continued the increase could reach 7.5% under the current formula.The new method of calculation should be offered "in the coming weeks" after the arbitral panel Matignon and the Elysee Palace.

Since early 2010, the energy group GDF Suez, owned 35% by the state, which offers fares. The Commission for Energy Regulation (CER) then verifies that the prices are consistent with the formula. But the government may "ask" GDF Suez does not apply the increase. The CRE has pronounced itself in recent days to a new formula for calculating rates to better reflect market prices (spot prices) at the expense of long-term price listed in the contract supply that GDF has signed with major suppliers. The spot prices now account for about 10% in the scale used.The regulator calls for increasing this proportion "as the market price continues to be lower than the average import price from the long-term contracts."

Curb rising fuel

Eric Besson else said the government was worried about soaring fuel prices. To curb the rates that affect the household budget, he plans to "make use" petroleum distributors.

He said he was "technically very difficult, if not impossible" to establish a "social tariff of gasoline, already ruled out last month by the Economy Minister Christine Lagarde. He believes, however, can mitigate the impact of soaring fuel prices, adding that discussions were under way but without giving further details on the nature of the contribution that would be applied to oil tankers.He also refused to talk to a tax on profits groups. "If we adopt a measure for the poorest households, it is necessary that, in one form or another, contribute to petroleum distributors," he said, referring only arbitration "in the days to come." Prices at the pump have been drawn up in recent weeks by revolts in Libya and the Middle East who have blazed the price of crude oil. In March, the super unleaded 95 had reached a high of 1.5179 euro parlitre.

(With AFP)

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