In one day, the U.S. national debt has grown from 55.8 billion. Results on Tuesday it reached 15,033.6 billion, according to the U.S. Treasury Department. She is now 99% of GDP forecast by the White House for all of 2011.
This debt had crossed upwards the threshold of 10 000 billion in September 2008. Since then, the United States earn one trillion additional debt every seven and a half months on average. Pace violently denounced by the Republican opposition accusing President Obama of being solely responsible.If nothing comes of these discussions before November 23, the law provides for the automatic implementation, from 2013, cuts in government spending, divided equally between defense spending and the remaining costs.
Pessimistic, the International Monetary Fund (IMF) said in its latest "monitor public finances" dated September, the public debt of the United States would reach 100% of GDP at the end of the year, 105% in 2012, and continue to increase up to 115% in 2016.
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There are many advertisements that boast of having lower cost for car insurance, but the truth is, most all
car insurance companies can provide you with a cheaper policy just by streamlining your coverage.
Suppression of PTZ + in the former.
Real estate agents who regularly praised the virtue of PTZ + (interest-free loan +) for a first house purchase new or old are particularly concerned about the impact of its removal. Now, this loan will be confined to new housing, generally more expensive .. "This offered the most fragile families a path to home ownership, says Jean-François Buet, general secretary of the Fnaim. Its end is a bad signal, we move away from France owners desired by the President. " Many professionals would rather see the PTZ + subject to means test rather than disappear.
"Of the 750,000 transactions this year, 300,000 were funded with a PTZ + in the former and 230,000 are for goods that are not primary residences, says Jean-François Buet.The new data on so three quarters of the transactions. " According to calculations by the federation of real estate, sales volume may decline by 200,000 acquisitions.
For his part, Michel Mouillart economist estimates that the measure "the crisis will be more extensive than in 2008 and will have a negative impact on the volume of mortgage loans."
And on the price? In addition to budget savings, the measures are supposed to help regulate prices. "They do not go down that much, said Sebastien de Lafond, president of the network MeilleursAgents.com. For the suppression of PTZ + will lower an already weak demand, but at the same time the tax on capital gains holding back the offer. "
Philip Hall, the new boss of Altran, promised to refocus. It does this. Friday, the board of the technology consulting group examined the future of its subsidiary, Arthur D. Little. Among the different scenarios studied, the sale of the consulting firm strategy its leaders holding the rope, according to our information. While the managers of the subsidiary offer for months to redeem, Altran, assisted by Messier Maris & Associates, contacted several consulting firms, BCG at Monitor Group through Sia, to explore alternatives.
But these tracks did not result: competitors were primarily interested in the brand Arthur D. Little, well known, at the same time alienating the teams.A complex equation, in a world of service where the value of the firm is keen to its consultants.
Altran, which publishes this morning's quarterly revenue, could take the opportunity to announce the opening of exclusive negotiations. According to the proposed scheme, the group would agree a loan managers to its subsidiary, deficit in 2010, so they fund the recovery. To secure this commitment, the brand remains the property of Altran until the loan is repaid. This will result in a depreciation in the accounts of the group. Until this summer, it hoped to sell its subsidiary to 70 million euros. The transaction amount will be much less. Altran in 2002 had bought the European operations of U.S. giant Board Arthur D. Little. This acquisition has not been successful due to lack of synergies between parent and subsidiary.In the first half, the group has cut 39 million the value of Arthur D. Little in his accounts. Contacted by Le Figaro, Altran declined to comment.
Soft, IBM is changing. Virginia Rometty, called "Ginni" in the group where she began her career in 1981, will become the first woman CEO of the giant Armonk. Aged 54, she will take office January 1.
The transition with Sam Palmisano, the boss for ten years a number of U.S. computer services, will be phased. He will become chairman of the board of directors.
Continue the transformation of the group
In the soothing world of IBM, Virginia Rometty has climbed the ladder since being hired as a systems engineer. She has led the industry including insurance and financial services.His feat of arms was in 2002, the integration of the consultancy arm of PricewaterhouseCoopers to form a strike force of 100,000 consultants.
This successful integration has led her to take charge of IBM Global Services, the main activity of the giant who represented the third quarter of 2011, 57% of the turnover of the group.
Ginni Rometty intends to continue the transformation of the IT group that "has changed in a decade."
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A camera that sees through walls, an exoskeleton that multiplies the forces, a drone the size of a bird that monitors the movements of crowds, vehicles, robots intervention in hostile environments, a tomograph – the equivalent of the scanner for human beings – which reconstructs 3D inside a bag and is able to identify explosives, a fingerprint reader that makes the difference between a real and a fake finger through its ability to "see" veins, a machine for biometric identification based on iris scanning or face … It's not the gadgets James Bond, but some of the amazing technological innovations that are presented Milipol, the first World Fair Homeland Security states, including the 2011 (from 18 to 21 October, Porte de Versailles in Paris) opens its doors this morning.
This show is held every two years alternating with Paris Doha in Qatar, is the child of September 11 and terrorist attacks in the United States. "Although he was born in 1984 but in 2003 the concept of homeland security market has emerged differing from the defense market itself," says Alain Rondepierre prefect, president of the show. Milipol also aims to provide solutions in the fight against crime, interventions in hostile environments – infected or affected by natural disasters – as well as the operations of public safety and law enforcement as well road safety, port and airport.And wider border surveillance.
A growing market
Customers come from public and private horizon: business as head of sensitive sites such as nuclear power plants, police forces (in the field, scientific) and emergency preparedness (fire, miners, rescuers …), gendarmerie, customs, airports, government agencies (FBI, Home Office …), the Ministries of Interior and Defence equipment because some applications have mixed civilian and military.
In total the global market for security at large weighs 420 billion euros (+5.5% in 2010), the survey published in the Atlas of Safely, the newspaper of record on the subject. The market is dominated by the United States with 30% of the world but Asia is gaining ground (23% against 14% of expenditures in 2001).For its part, Israel Export Institute believes that the only market "homeland security" weighs 170 billion and it increased by 7 to 8% per year.
On these growth markets, France has several champions. Morpho, the world leader in biometric identification since the purchase of American L1, used by over 100 countries and 450 organizations such as the FBI, the Israeli police and Interpol. Morpho is a specialist in such border crossing facilities at airports. "Faced with evolving threats, we must provide answers to more sophisticated, more effective are not too expensive and that thin the border crossing. For example, we went from detection to the identification of explosives, "said Didier Bernard, Executive Vice President of Morpho.Soon there will be no need to register to use the Initials successor that allows holders of biometric passports to cross the border control without queuing.
For its part, Thales relies on its leadership in information systems, to provide answers to the problems generated by "urbanization". This "requires cities smarter and therefore supported by systems that can facilitate decision-making in complex environments," said Luc Vigneron, Chairman of Thales. The group from Mexico won the first contract of its kind with its offer to secure Hypervisor this city of 22 million people, plagued by violence. In addition to large groups, SMEs, supported by some Directorate General of Armaments, engage in an orgy of creativity.Overview of some of the novelties of Milipol 2011.
Some products presented at Milipol, the first international exhibition of security
• Cobra – A range of robotic vehicles (see above)
Developed by ECA, one of three subsidiaries of the SME Gorge, the Cobra Bubble is a ground vehicle robotic intelligent. Its onboard camera is covered with a protective bubble antiéboulement that does not stop to see day and night to 360 degrees. The vehicle of 40 cm square weighs 5 kg. It can be equipped with a gun to remove the mines. He drives up to 300 m away from a touch pad or joystick. Its mission: to make tracking and filming in hostile environments or contaminated or monitoring sensitive sites such as nuclear power plants. Gorged sells 100,000 a year.
• Millicam 90 – Sees Through Walls
After the sale "Flash" will there be shown the concept of selling "super flash"? Papercut, a Swedish chain of distribution of cultural products, offers on its website a unique experience to its customers. SpeedSale called, this feature leaves only four seconds to users to enter a promotional offer.A list of 16 products at bargain prices is presented to them once and only once! If the client does not validate any purchase, it is impossible to return to the list and a message appears: "You had a chance and you ruined, come back the next century." The user is then redirected to the page Home Papercut site.
"Sales 'flash', 'private sales' and other 'deals are limited in time' have always been part of the promotional techniques invented by retailers to increase the desirability of their offerings," noted experts LaSer, equal subsidiary group Galeries Lafayette and BNP Paribas Personal Finance specializes in marketing and customer relations."With the online business, these opportunities have continued to increase until the proposal Papercut extreme, proof that people are always looking for new shopping experiences and, for them, use n ' is never very far in the game "
This view is shared Olivier Mathiot, co-founder and marketing director PriceMinister. "The sales script 'flash' or other private sales makes shopping even more fun." He was convinced that the Internet boosts "impulse buying". "This media immediacy causes a sense of urgency that forces the user to decide very quickly. It recreates an environment conducive to the frenzy and excitement, "said Olivier Mathiot. PriceMinister also take account of this trend.
Bought by the Japanese Rakuten in June 2010, the site led by Pierre Kosciusko-Morizet draws its sales processes favored by the Japanese. It has well before mid-2012 to implement his concept of "shopping marathon", an event that lasts 30 hours and is conducted twice a year in June and December. "Ten merchants in the same sector, such as fashion or food, offering users a selection of products at bargain prices, and product category changes every hour," explains Olivier Mathiot. This visit a huge success. "The turnover of Rakuten in Japan grew by 150% during these periods," says co-founder of PriceMinister faxless payday advance.
"Everyone wins"
"Everybody is up with this kind of promotional offers," says one at eBay, the specialist in online auctions."The customer is doing well and the merchant increases its visibility while achieving dramatic sales volumes in a timely manner." In order not to miss the boat, eBay launched in early October its "Daily Deals", inspired by the "daily deals, "such sales 'flash' already well proven in Britain and Germany. For one day, merchants offer discounts on products theme, depending on the season and current events. Like Papercut and his concept of 'speed dirty' in Sweden, eBay distills the game in the act of purchasing: "Auctions are the adrenaline and that's what consumers are looking for. The evidence, from 20 to 25% of people who come to our site looking for auction, "says eBay.
Of adrenaline to the frustration, there is a site that has taken Swedish Papercut cheerfully. "The frustration is part of the game and users know it.If the sale is concluded, the satisfaction is increased tenfold, "Marc Lolivier analysis, managing director of Fevad. However, the practice of selling 'flash' requires good organization. Beware of stock-outs that could raise the ire of consumers, while retailers would pay back customers who have already paid for their order. Here, no one would gain.
E-commerce: the bar crossed the 100,000 sites by 2012
Internet sales continue to take their game in a morose for household consumption in France. The turnover of e-commerce sites has reached 17.5 billion euros, up 20% from January to June, according to the Federation of e-commerce and distance selling (Fevad). Nearly 20,000 new commercial sites have been created, an increase of 28%, bringing to nearly 90,000 the number of active sites in France."The bar of 100,000 sites could be reached by 2012," said Fevad. In the first half, the areas of fashion clothing and Tourism signed the largest increases in turnover (+16%), far ahead of the high-tech products (8%) and sales professionals (+ 5%).
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Fitch Ratings lowered the rating two notches from Spain, which now stands at "AA-". Spain held so far a "AA +", the fourth highest on a scale of twenty. More worryingly, the note is accompanied by a 'Negative' outlook, which means that the agency could lower it back to medium term.
Spanish growth at half mast
Moody's in turn should decide by the end of October on a possible downgrade Spanish now "Aa2" (the third best possible)."With significant funding needs" of the Spanish State, to cover its budget expenditures and net external debt is "one of the highest in the world" (91% of GDP), said Fitch, "the more volatile strong a negative effect on financing conditions in the market of Spain. "
But there are also internal factors in the country "risks to fiscal consolidation as a result of performance parts." The same agency Fitch has lowered Wednesday including the long-term rating of the Basque Country, one of the richest region in which it criticizes the "weak fiscal performance." Growth forecasts have been revised downwards. Wednesday, the Bank of Spain announced that the country's growth expected to slow in the third quarter, to reach an economic activity 'lackluster'.The Spanish government has also recognized that the economic growth targets it had set for 2011 and subsequent years would be "hard to reach" because of the risk of recession in the world.
Italian governance into question
Fitch also lowered the rating one notch to Italy, "A +" against "AA-" and does not see her again in the fall if the country would miss its targets for reducing the budget deficit. Fitch was the last of three major international rating agencies have not downgraded from Italy since the beginning of the debt crisis in the eurozone no fax cash advances. She explained that the high level of public debt and budgetary financing needs, combined with the low level of potential growth (the country), made in Italy especially vulnerable.The Agency is challenging the country's governance and stressed that the differences in the Parliament and the escapades of the prime minister Silvio Berlusconi, help to weaken the ruling coalition.
Belgium heckled by Dexia
Belgium is also in sight. The agenceMoody's said it was considering lowering its rating, currently at "Aa1", the second best possible. The agency cited three reasons: the crisis in the euro area, concerns for economic growth and the possibility of additional support to the banking system, particularly in establishing Franco-Belgian Dexia.
Another European country in turmoil, Portugal, has been confirmed its rating of "BBB-" (the last before falling into the category of "speculative") by Fitch, which continued on negative watch at least until the end of the year.Standard & Poor's, confirmed Tuesday the rating "BBB-" from Portugal, while maintaining it as a negative outlook. Portugal, the third country in the eurozone after Greece and Ireland to receive international financial assistance, is facing new economic challenges that undermine his efforts to clean up its public accounts. Progress in implementing the program of the European Union and the International Monetary Fund (IMF), and its budget for 2012 will be crucial.
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The CAC 40 lost nearly 3%, Wall Street sells more than 1%. The atmosphere is clearly not fixed in the beautiful capital markets on Tuesday. The bosses of U.S. and European central banks did nothing to calm them.
Two days before his last conference as president of the ECB, Jean-Claude Trichet is pessimistic for the euro area. "We believe that the euro area will be very moderate in the second half," said one who will be replaced by Mario Draghi on November 1. As for inflation, he said that the rate should remain "above 2% in the coming months. Next year, it should fall below. " These are all signs that suggest that interest rates should remain unchanged Thursday.
As for the United States, the head of the central bank, Ben Bernanke is more optimistic."Recent indicators, including those of new jobless claims show that it is likely that the sluggish growth in employment continues in the coming period," he warned. Before the Joint Economic Committee of Congress, the Fed chairman has urged politicians to "avoid taking fiscal measures may impede the ongoing economic recovery."
"We can not just replace the government"
Sluggish growth, employment at half-mast, high unemployment, the United States and Europe are the worst of an economic plan. And while a slowdown is being felt in China. Most economists expect further aid from the central banks against the inaction of governments, but Ben Bernanke and Jean-Claude Trichet reminded of a common voice that States to revive the global economy."The measures to promote healthy growth of the economy and employment are the shared responsibility of all politicians, in close cooperation with the private sector," he argued. And the President of the ECB concluded: "It is their responsibility to deal with the worst crisis in the postwar period. We can not substitute for governments under any circumstances. "
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"SPECIAL – crisis: the fear of debt
French public debt continues to swell. It increased by 46.4 billion euros in April-June, peaking at 1.6927 trillion euros, INSEE reported Friday. This represents approximately 86.2% of gross domestic product, that is to say, the wealth generated by France in one year.
The state is primarily responsible for this increase. His contribution has indeed increased in the second quarter of 52.6 billion euros. "This is essentially its long-term marketable debt," said INSEE. Clearly, these are bonds issued by the state to investors and repayable on a long horizon (ten years). However, local governments have reduced their debt by 2.7 billion euros, and the government social security declined 2.3 billion.
Loans to Portugal and Ireland as part of the bailout in the euro area weighed 2 credit report.4 billion euros (1.6 billion for the first 0.8 billion for the second). Conversely, the French car manufacturers have paid up to € 2 billion loans at the height of the crisis, in 2009.
Reduce government debt returns to stop a ship at full speed. The effect of inertia is such that it takes time-years-in order to stop its progression. The government intends to reduce the amount of debt in the coming years. It will peak at 87.4% of GDP at end 2012 and to decline 87.3% in 2013, 86.2% in 2014 and 84.1% in 2015.
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The green light from Germany, expected today, will be symbolic and decisive. The expansion of the powers of the European Financial Stability (EFSF), with 440 billion euros, as decided on July 21, is one of the keys to the debt crisis in Europe. But it requires the agreement of seventeen members of the euro area.
After France, Belgium, Spain, Greece, Ireland, Italy, Luxembourg, Portugal and Slovenia, the Finnish Parliament yesterday approved the building.But Finland has still not clear what the additional security that it intended to apply to Greece in return for future loans could be guaranteed in the country.
In fact, while the European Commissioner for Economic and Monetary Affairs, Olli Rehn, said two weeks ago that all States in the euro area have ratified the project at the end of the month, the cacophony in the field is law.
Slovakia has postponed its vote on October 25. His prime minister supports the expansion of missions of the Fund, but are still strong disagreements within the governing coalition. Member of the euro area since 2009, was the only country to refuse to participate in the first loan to Greece last year. And the head of Parliament is prepared to "torpedo" the project."My goal is to ensure that Slovakia will lose billions of euros ( business card…) The European Union does not need our money," he said.
The specter of bankruptcy
Because Greece is still afraid. Czech President Vaclav Klaus, interviewed by American television outside of the last UN General Assembly, said without hesitation that perfectly imagined that "a country so in the euro area." He added: "I'm afraid that European leaders are still spending lavishly to Greece."
An opinion widely shared by Austria, which must meet its Parliament on September 30, and whose foreign minister recently said that one could legitimately "consider bankruptcy of Greece."Like all small countries that have not voted – Cyprus, Estonia, Malta – he ensures that he wants to rely on the results of discussions between Athens and the Troika (ECB, Commission, IMF). But the finance minister said although this ultimate solution is "better than a rescue too expensive."
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