VAT in the catering dispute

The president of the centrist Senate Finance Committee, Jean Arthuis, for his part argues for the introduction of VAT "between 10 and 12%" to local shops, including restaurants instant payday loan no TeleCheck. The Budget Minister Francois Baroin, had also mentioned in June the possibility of raising the VAT paid in the restaurant, before retracting. A year after the VAT reduction from 19.6 to 5.5% in all the restaurants, the measure of criticism towels.

Plea for a wide shot of plane

And as the government seeks to save 100 billion euros by 2013, envisages various tracks. As such, Philippe Marini believes that "all preferential arrangements under the income tax, but VAT, pursuant to corporation tax, the solidarity tax on wealth, can be affected by the reduction of the tax expenditure.

François Fillon has dropped the word naturally. He who rejects the word rigor in Paris, finally telling the truth in Tokyo. "Of all the state budgets, the only one who is not subject to discipline is that of Higher Education and Research, argues the prime minister, at the turn of a sentence imposed before an audience of five hundred Japanese businessmen and under the approving glance of Christine Lagarde.

True to his outspokenness, the Minister of Economy has not taken greater care to reassure the business community Nippon concerned about turmoil in Europe since the sinking of the Greek economy. "There is not in France, I can assure you of hidden deficits. We have a package of structural deficits, but our accounts are audited very seriously, "warned the owner of Bercy.What has been told to François Fillon not without humor: "Unfortunately, there is no hidden revenue either!"

The European austerity plans discussed at length

He came to Japan to reassure businessmen and Japanese bankers, Francois Fillon has long defended the austerity plans implemented in the euro area. The European currency crisis causes, in fact, Japan concern and uncertainty about the strength of the European Union. The major daily newspaper Nikkei has made his One, two days ago, the 30% decline in investment in the euro countries during the first half of 2010 faxless cash advance.

"I understand that, seen from Asia, our operations can sometimes be difficult to perceive and understand.But Japan's national interest is not to turn away from the euro, "Francois Fillon urged by recalling that Europe is" the great market of the developed world with 500 million consumers. Incidentally, he ditch tackle the Anglo-Saxon does not deliver, he says, a "balanced view of the success of the European Union" and invited his audience to read the German press and French.

Before leaving Tokyo, Francois Fillon met with his counterpart Naoto Kan. In addition to macroeconomic issues, the two men discussed several issues of the Franco-Japanese: nuclear, automotive and aerospace.Weakened by his recent defeat in the senatorial elections, the center-left prime minister of Japan can not implement as it sees the budget and tax reforms that could reduce Japan's debt, too colossal.

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This new direction will be entrusted to Christian Fontanel, Director of Audit, and attached to the new CFO, Thomas Piquemal. Its mission is to "optimize the group's international scope, particularly in procurement," the newspaper said. While Les Echos reported that EDF has made last year to 11 billion euros of purchases – in France, but also in the United Kingdom, Germany and Italy – the savings on the position of the purchases can achieve 10% of the total, according to analysts. That's more than 1 billion euros in the case of EDF.

Another post where the group seeks to achieve economies: investment.Last year, EdF has spent over 12 billion euros over the budget line. And again, EDF plans to make some adjustments. The Finance Department will assist the operational divisions in the management of investments. This mission will be headed by Stéphane Tortajada, currently deputy CEO at Casino Development. From mid-July, so it will also be in charge of fundraising and investment of EDF, replacing Anne Le Laurier.

Finally, in terms of its debt, the newspaper wrote that EDF "will allow one more month to decide whether to sell its UK distribution network, estimated at 5 billion euros. If this solution was not ultimately successful, the group would consider making other assignments.

This concept has been designed by the owner of Prufrock Coffee, Gwilym Davies, also won the title "World Barista Champion (world champion of the coffee) in 2009. He imagined this card when friends decided to open their own cafes in the area."Initially, our clients have found this strange idea card advising them to go to our competitors," says Jeremy Challender, the manager of Coffee Prufrock at Figaro.fr. "But this concept amuses both consumers and the community café in the neighborhood."

In six months, the Prufrock Coffee has distributed some 6,000 cards "disloyalty". A success for Jeremy Challender, who intends to pursue the initiative. "Especially since I do not count the cards that are still in nature and will return once we met," laughs the cafe, which ensures that bars competitors play the game well and dab the card. "This is a healthy competition," he says."We're well aware that our customers will enjoy more cafes in other locations, which requires us to constantly innovate to improve the quality of our products."

Trade competition against the current

The Expert Group LaSer, a subsidiary of BNP Paribas and Galeries Lafayette that specializes in marketing and customer relations, identify in their monthly newsletter that the objective of this initiative is "to encourage customers to regularly attend teaches, but to give them the habit of going for a coffee, even in competing institutions. In sum, the common focus for everyone to "benefit from a greater overall abundance.

Within weeks, the idea of Gwilym Davies had already crossed the Atlantic. In Toronto, Canada, seven patrons of bars in April formed a sort of alliance called "Toronto Coffee Conspiracy.The principle of this partnership is somewhat different from how the map of "disloyalty" proposed by Coffee Prufrock. In fact, most customers choose this time the coffee, among the seven members of the "Toronto Coffee Conspiracy" in which they will return once their card filled. In Seattle, the United States, no fewer than 10 brands of cafes and bars, located in 13 different districts of the city have come together around a similar card program.

French cafes in lack of customers

This type of initiative has not yet made its way to France. French Café owners could do with finding parades down attendance which they suffer, especially since the smoking ban in public places. Many institutions have also put the key under the door in recent years.The second edition of the Observatory of independent trade wholesaler Metro Cash & Carry France, in partnership with BVA, it remains that 50,000 pubs in France in 2010, against 510,000 in 1914. This study shows that 82% of French people prefer these to traditional franchised cafes. However, only 2 out of 10 people go there regularly.

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Contagion Greek-Spanish portugo

The Spanish government has significantly lowered its estimate on Thursday night growth for 2010. The Gross Domestic Product (GDP) should grow as well as 1.3% this year, against a previous estimate of 1.8%.

"The fiscal consolidation process will result in a reduction of forecast growth," said Spanish Minister of Economy and Finance Elena Salgado.The new forecast reflects the austerity measures taken by other EU countries like Greece and Portugal "which can also affect" the Spanish growth, "she added.

Unemployment exceeds 20%

Shortly before the announcement, the Socialist government of Jose Luis Zapatero adopted a decree-law providing for the implementation of drastic cuts in public spending for 2010 and 2011, totaling 15 billion euros.These measures are intended to "expedite the process" of reducing public deficits, which rose to 11.2% of GDP last year.

These new measures will have a "clear social impact," acknowledged the head of government, facing an unemployment rate above 20% of the workforce.

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The co-founder of Apple and provides no fewer than six reasons for this refusal. Widely used on the Internet, Flash is a plugin "100% proprietary" Apple can not improve. However, it would be slow and insecure. It would reduce the autonomy of mobile devices and would not touch some of the gestures.It would not, either, if necessary to take advantage of the Internet, since the videos from YouTube and other sites have already been converted into a format readable by devices from Apple, H.264. Finally, the creation of applications and Flash games, designed to run on multiple platforms, not exploit the best features of the iPhone.

"Flash has been created during the era of PC to PC and mouse," says Steve Jobs, therefore, recommends that Adobe to focus more on the future "instead of criticizing Apple for having drawn a line under the past" . The future, he says, is to open formats on the Internet, including the HTML5. To the chagrin of Adobe, these new tools can include videos on websites without having to install Flash on their computer or mobile payday loans.Already, U.S. media have changed their site to include video in HTML 5, still remember Steve Jobs.

Crisis communication

Nevertheless, the lack of Flash in web browsing is still among the most frequent errors associated with the iPhone and iPad. It also applies to Apple's repeated criticism on the Internet. During April, an employee of Adobe has publicly recommended Apple to "get lost". Its competitors also benefit. Earlier this week, the head of the development of Android, Andy Rubin, has compared the restrictions of Apple's policy of North Korea and announced that future phones will integrate Google Flash. In Silicon Valley, rumors suggest that the case could be brought to justice.

The open letter published Thursday shows that these incidents are taken very seriously at Apple.Steve Jobs had already used the same method to break Apple's other crisis situations. He responded to Greenpeace, which accused the Mac to be too environmentally unfriendly, had determined the end of the locks on music (DRM) and announced his illness and withdrawal. In this battle as technical as media, Steve Jobs, however, avoided relying on an unlikely ally, Microsoft, whose new mobile operating system, Windows 7 Phone will not be compatible with Flash.

Goldman Sachs has managed to earn 3.7 billion dollars in betting, starting in 2007, the collapse of the mortgage-market. In doing so, the giant Wall Street acted against the interest of some of its customers, which it sold securities that he knew "toxic". This is the conclusion, after months of investigation, the Permanent Subcommittee on Investigations of the U.S. Senate.

Tuesday, during public hearings stretched on Capitol Hill, Lloyd Blankfein, the head of the giant Wall Street, has categorically denied these allegations."We do not speculate massively downward in the housing market and we certainly do not bet against our clients," he was forbidden under the spotlight, saying that even on the mortgage-market, Goldman Sachs has lost about $ 1.2 billion in 2007-2008.

"Nobody in the management of Goldman Sachs has never asked me to bet on a decline in the subprime market," added before skeptical senators, Joshua Birnbaum, the former head of structured products of the bank, also on the bench defendants.

Convinced otherwise, armed with emails and internal documents seized in the bank, the debonair Senator Carl Levin, glasses pavement at the end of his nose, led a determined assault Tuesday. But the chairman of the committee was confronted with a wall.He vainly tried to tell the past and present officials of Goldman Sachs called before him (including one French employee), how could they believe in the quality of debt issued by mortgage lenders whose reputation was terrible. Receivables classified as "business of shit" in an email exchange between two bank officials. "How many of these" affairs of shit "did you sell to your customers? asked, exasperated, Senator Levin. You've sold hundreds of millions. "

Bankers Daniel Sparks and Michael Swenson, impassive without being arrogant, but obviously confident of the merits of their point of view, seemed not to understand or what they asked or what they were charged.They also questioned the methods of calculating profits of Goldman Sachs selected by the committee.

Battle of Senate proceedings

According to Senator Levin, the investment bank has yet actually decided in late 2006 to a major cleanup of its accumulated risk on securities backed by the real estate markets whose collapse loomed. By discipline, to limit its risks and if possible in the hope of profiting from the trend, the bank had sold to investors and deliberately chosen for their credulity his titles too "toxic"."We have not been systematically and significantly" net short position "on derivatives of residential mortgages in 2007 and 2008," replied Lloyd Blankfein.

Meanwhile in the Senate floor, Democratic leaders and Republicans arguing over procedural votes before engaging in substantive debate on the reform of Wall Street. The Conservatives want by all means restrict the scope of Democrat Bill before it is submitted to a plenary debate in the room. A compromise is always likely, because both parties want to correct the excesses that precipitated the financial crisis.But the Republican minority wants to take his time, while Democrats want to take this case Goldman Sachs to prohibit such banks with access to the discount window the Fed to speculate on their own account.

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These new "World Economic Outlook," IMF showed that "the recovery unfolds better than expected. But new challenges have emerged and exceptional "cautioned Olivier Blanchard, chief economist of the Fund. He calls a "warm" restart in the advanced countries, which are still found a lower level of production of 7% it would have without the crisis.In the eurozone, the IMF also revised downwards by 0.1 percentage point to 1% its forecast for growth in 2010, although France, among others, has fared rather better with a forecast of 1.5% instead of 1.4%.

Dependence credit

For Europeans to wonder why their economies pull themselves together much more slowly than America, Olivier Blanchard gives two main explanations. Europe is "more dependent on bank credit as the U.S. market where finance plays a greater role for business and they have restarted the fittest." Furthermore "the policy responses have been later and less strong in Europe," he adds.

This means that the IMF does not disavow the fiscal stimulus plans, including Dominique Strauss-Kahn, their boss, was one of the strongest supporters, from January 2008.But "it is urgent to develop strategies for fiscal consolidation in the medium term" now stress the same experts. They note that the budget deficits in advanced countries have now reached 9% of GDP on average and that "the debt / GDP ratio should exceed 100% by 2014 if nothing is done.

Rebalancing Economic Policy

The situation is more delicate than a too abrupt adjustment of public finances could hinder growth already shaky. Hence the advice to double trigger "to fully implement fiscal stimulus measures planned for 2010, except in countries which already have a strong increase in their risk premium and must begin to rebalance their budgets now," as Greece. But the most advanced countries should undertake a substantial fiscal consolidation in 2011.

Emerging economies are the reverse face "to an influx of capital, a good thing in itself, but can become excessive," warns Olivier Blanchard. He recovered one of his favorite anthems "the currencies of a number of emerging markets remain undervalued in considerable proportions regarding the yuan." It calls for a revaluation of the currency, both in relation to the dollar than the euro, the only way to give oxygen to Western exports and ease the risk of overheating in Asia. This rebalancing of economic policies will be central to discussions of the G20, whose finance ministers meet Friday in Washington.

The cost of insurance on compulsory Greek (CDS, credit default swaps ") also jumped Thursday morning, also reaching record levels at more than 470 basis points, the credit information specialist CMA News. "The market moves very quickly," says Markit News on Twitter.

Greece is still contineur to borrow, said Thursday morning the Greek Finance Minister George Papaconstantinou before Parliament.

Contamination

"The Greek problem begins to contaminate other peripheral markets such as Spain and Portugal, where the rates differ from the Bund," says Patrick Jacq, a strategist at BNP Paribas rate, which emphasizes that the volumes traded bonds Greek since Thursday morning are very low. "As regards Greece, the current movements are not yet dramatic macroeconomic consequence.Athens has enough to cope with higher current levels, which represent, in the case of bond issuance, an additional cost after all low in comparison to 10 billion euros to be in the coming weeks. "

After rumors of Greek opposition to the conditions of the International Monetary Fund (IMF) in case of intervention, the Greek banks are finding themselves the center of attention. The Financial Times reports that in a recent face withdrawals totaling 10 billion euros since the beginning of the year. It does not take more than some analysts to fear a flight of capital.

Testing the limits

But the sudden movement on the debt market would also be Greek, or even primarily, due to investors forced to sell the Greek titles of their portfolio because of excessive volatility.Investors also want to test the rescue plan put together by the European Union, and know from what level of rates will be raised.

This is a matter of weeks, said Laurent Bilke, Europe economist at Nomura. He said the level of rates and especially the volatility in the market make it impossible to bond issue in the short term. Nothing, however, should occur before the regional elections in Germany in Westphalia on May 9, given the opposition of the public to any plan for Greece.

In this tense context, the ECB president, Jean-Claude Trichet, should be questioned about the crisis in Greek at the monthly press conference on Thursday."He should face questions on media reports that the ECB considers to be both too vague in terms of European aid and inappropriate intervention by the IMF," say economists at Societe Generale in a note.

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Tuesday afternoon, thousands of demonstrators began to march throughout France. If the number of participants were not recorded in Paris, 10,000 people marched in Nantes by the CGT, the police still had no figures available. They were at Le Mans 7000, according to police, 2000 in Vannes, according to unions.In Rennes, the mobilization seemed weaker. Also according to police, Lyon accounted as 10,000 demonstrators, Grenoble 5000, and Saint-Etienne 4400.

The strike of civil servants was also relatively followed in mid-day. The department estimated that 21% the proportion of striking teachers, estimated at 40% for the SNES-FSU, a rate higher than the previous mobilizations. 11.45% of the postal employees were also mobilized by the leadership. At the station, the strike rate was estimated at 28% by management, and 32% by the CGT. At RATP, it would amount to 14% depending on the direction, the CGT-RATP not yet have figures to communicate.

Pension reform crystallized discontent

Two main points today crystallize opposition from unions, following a government reshuffle.

• Pensions: major point of contention between the unions and the government, the pension reform was launched at the Social Summit in February. While the dialogue should begin early April, several union leaders have spoken about this on Tuesday, sending a warning to the government. The CFDT leader Francois Ch?r?que has called for a reform that reduces inequality. "Of course we must change our pension system, but it does not evolve towards greater social justice, this is again a loss of confidence in politics" best payday advance !!!???!!!?? ?!!!. Therefore, it could "be the sport at a social level," he warns.Jean-Claude Mailly, secretary general of FP, for his part reiterated on Tuesday his commitment to the LCI retirement at age 60, holding "absurd" the solution of longer working hours to alleviate the funding problems induced by the lengthening of life expectancy. "If we follow this logic, women live longer should work longer," he argued. As for Bernard Thibault, leader of the CGT, he believes "we can not impose reform on accounting criteria exclusively, also challenging the objectivity of the Advisory Committee of pensions. "This appointment will be very difficult to carry," he predicted. Probably heard a speech by the new Labor Minister, Eric Woerth, who insisted on Tuesday on the need to "protect" the current system "an equitable reform.

• Employment: while the unemployment rate back above the 10% in the fourth quarter of 2009, the CFDT called for taking further steps to assist employees affected by the crisis. Pleading for an appeal to partial unemployment, training rather than dismissal, the leader of the CFDT has also called for financial support purchasing power and resources center for sustainable employment. The employees "have the feeling that we no longer speak of their real situation since September. An impression they would have in his Sunday expressed through the ballot box. The government must now "give strong signals, and change of method," he said. A view shared by the leader of the CGT, Bernard Thibault, who on Tuesday urged the convening of a new social summit at the Elysee.The meeting, a time desired by the head of state says he would aim to "take stock of the situation regarding employment, economic and social policy and purchasing power for practical decisions for implementing fast.

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