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The CAC 40 is expected to start the session in the red

While Wall Street ended the session and declined Friday Asian stock markets see red on Monday morning, the CAC 40 should continue to decline at the opening and drop 0.3% to 3908 points according to the contracts' future. " The session will mark the beginning of earnings season in the United States, with the aluminum giant Alcoa. Investors also remain attentive to the advances of the new meeting of central bankers in the euro area held Monday in Brussels.

Van Rompuy, Barroso and Trichet, heads of three major European institutions – the Council, the Commission and the Central Bank – in fact, find themselves on Monday morning to spur the seventeen countries of the euro, still unable to s' hear about mounting a second rescue plan for Greece.Then the seventeen ministers of finance are again struggling in the afternoon of the participation of private creditors (banks, insurers and pension funds) to finance the 110 billion euros expected by Athens. In addition, concerns are doing now in Italy. Friday, the country has seen its returns soar. Rumors about a possible resignation of Finance Minister Giulio Tremonti, would have triggered the movement.

The United States are also penalized by a debt record. Barack Obama finds MPs on Monday. He said Sunday night, before a meeting with key members of Congress, he "must" that Congress reached agreement on the debt within 10 days. Otherwise, the U.S. could default on August 2. The President will also hold a press conference on Monday.

Chapter Macroeconomics always INSEE reveal the level of industrial production in May.

Global sales of Renault and record values ​​on the side, investors will follow the announcements that Renault must publish its results this morning, trading in the first half before Peugeot tomorrow. Carlos Tavares went to the site of Flins Monday. Renault has announced an increase of 1.9% of its global sales in the first half, the strength of demand abroad offsetting supply problems it encounters in Europe.The group also expressed its willingness to establish a new sales record this year by selling more than 2.6 million vehicles due to its growth internationally and despite the poor performance in Europe in the first half, he said Monday.

Moreover, the energy values ​​might react to the launch of the tender giant (about EUR 10 billion) government on the construction of an offshore wind farm with a capacity of producing 3000 megawatts. Several candidates have already expressed: the consortium Su ez GDF, Areva and Vinci, another consortium Areva and combining the Spanish giant Iberdrola, EDF EN and all, Alstom and Dong Energy. E. ON and EDP-R have also responded to the tender.

Total may write off certain tax advantages.Following the controversy triggered by the imposition of any large groups of the CAC 40, Total could give up to enjoy the tax shelter known as "worldwide profits." The CEO also announced that he would pass to the pump the recent increases in crude oil prices.

Airbus, a subsidiary of EADS, would be willing to sell out to rival Boeing. The European aircraft manufacturer could make significant price reductions to crop market share with its U.S. rival in the U.S., in connection with the tender launched by American Airlines, says the Wall Street Journal. The U.S. airline expects to order 250 aircraft.

On the other hand airlines could face a strike in early August.The union of airline pilots SNPL filed a strike notice for all French airlines from August 5 to 8, written Tribunedans his edition of Monday.

Ipsos could be thwarted in his plans to return to UK Synovate. In fact, the British investment fund would be willing to put 675 million euros for the acquisition of Synovate, the tamping pin to French Ipsos already in discussions with the company for market research, according to information from the Financial Times. The Aegis Group, which owns Synovate, however, have rejected the offer.

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Greece offers a respite to 12 billion euros

Europe is gaining time, but did not extinguish the fire in Greece. Following a conference call Saturday, finance ministers of the euro area have given the green light to release "by July 15" 8.7 billion euros in loans that should add 3.3 billion paid out by the International Monetary Fund (IMF). This decision was expected after the adoption this week by the Greek Parliament of the austerity program imposed by his European creditors. "It (the decision) strengthens the international credibility of Greece", immediately congratulated the Greek finance minister, Evangelos Venizelos.

As the new Executive Director of the IMF, Christine Lagarde, to take office Tuesday, the organization welcomed the developments."We welcome the commitment of the Eurogroup to a funding strategy that ensures that the Greek economic program is fully insured," said the spokesman for the IMF, Caroline Atkinson. No details however were given about a possible date on which the Board could meet to release the funds.

Berlin puts pressure

If these 12 billion euros to Greece should avoid going bankrupt in the short term, it is not enough to save the country permanently and fully reassure the financial markets. For this, the country has called for a second bailout International 110 billion euros. Finance ministers of the euro zone have promised yesterday decisions "in the coming weeks." For its part, the German finance minister, Wolfgang Schäuble, more prudent, spoke of an agreement by the fall only.Berlin looks indeed to be certain that Greece implement austerity measures quickly that the country has promised cash advances pay day loan. "After the release of the fifth installment of the countries of the euro area and the IMF, the next step must be addressed decisively: the measures passed in Athens should be implemented quickly. Privatization, for example, must be launched without delay, "responded the German Minister of Finance. Response of Athens: the austerity plan of 28.4 billion euros will be implemented before mid-September.

Ireland, Portugal, Italy and Spain could knock on the door

These two months of rest should also help to advance on a second rescue plan 110 billion euros. Finance ministers of the euro area have not spoken on this subject last night.They expect to clarify the private sector, banks and other creditors, imposed by Berlin to a new plan to help decide. "The details and extent of the involvement of private and official sources of additional funding will be determined in the coming weeks," they said.

Time is running out: Ireland and Portugal may need a new international aid. As for Spain and Italy, both countries are under pressure from rating agencies. "The failure of European political leaders to resolve the crisis quickly and decisively hits the rest of the euro area," says Ben May, economist at Capital Economics. The United States pressed more in Europe to solve its debt problems to avoid a global impact."If Greece fell deeper into recession following the new austerity measures, it could reduce the willingness of governments to implement additional fiscal measures," says Ben May.

Louis Welsh defends freedom of Air France

"Air France has to make choices according to their needs." This is the answer unequivocally given by the president of EADS hundred members who pushed Air France, earlier this month, Airbus to prefer its U.S. rival Boeing. June 12, a petition launched by the UMP Bernard Carayon called the French airline (15.7% owned by the French government) to show European patriotism, when placing the next order giant had long haul. Expected this summer, the contract of tens of billions of dollars would move more towards a hundred Boeing 787 "Dreamliner."

For Louis Welsh MPs that pressure is unnecessary. "I remind you that 95% of aircraft we are producing for export," says the director in an interview with the Journal du Dimanche.From the first days of the Paris Air Show, which closes its doors Sunday night, the European aircraft manufacturer has announced an almost unexpected rain control, supported by contracts negotiated with the giant companies in emerging countries. Wednesday and Thursday, the group recorded two commands including records, first with the Indian carrier IndiGo, on 180A350, 150 Neo, then with Air Asia, with 200 A320 Neo, is the largest order in the history of civil aviation. "These emerging markets provide the" A "and represent over two-thirds of the global market. Our 730 orders and commitments demonstrate that our products meet the expectations of these new customers, "supports Louis Welsh, referring to the plebiscite met by Neo A320 aircraft during the rally.

Hunt on the lands of Boeing

Overall, therefore, the European group put on emerging countries to take advantage of an aerospace market returned to a "dynamic," says Louis Welsh. If political disagreements today Stems certain contracts, the group can always rely on its broad technological superiority to convince companies of those countries developing their flights to Europe and the United States. And ambitions of the European aircraft manufacturer does not stop there, the group wishes to continue to hunt on the lands of his rival always, Boeing.Referring to the age or obsolescence, of much of the fleet of U.S. airlines, the leader discount surf the success garnered at Le Bourget and "large needs to renew its fleet" (U.S. companies ) to increase its influence across the Atlantic.

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The success of conventional ruptures

Breaks conventional still face a huge success in business. Since the introduction of this device in 2008, their number continues to grow at a rate of 20,000 to 24,000 per month, according to a recent memorandum the Ministry of Labour. After a strong scalability driven by the crisis, the number of monthly requests has indeed stabilized since the fourth quarter of 2009, so as to exceed the threshold of half a million to break out of court last February. In total, conventional breaks accounted for 11% of CDI in 2010 after 7% in the first half of 2009 and 10% in the second half.

Small businesses are particularly in demand of this device. In the second half of 2010, three quarters of conventional ruptures have been signed in companies with fewer than 50 employees, while they represent only half of total employment.Overall, more than one company is big, and the less it tends to resort to conventional rupture. In establishments with more than 250 employees, the break is only conventional and 5% for contracts, against 13% in establishments with fewer than 10 employees. In contrast, the amount of compensation increases with the size of the company. The amount paid per employee in 7430 was certainly high euro in 2009, but half of the employees has actually received little more than the statutory redundancy payment, below which firms can not fall .

Disguised early retirement

If smaller firms are attracted by the flexibility of the device, breaking "friendly" is also not without pitfalls. The high proportion of employees over 50 years involved calls for a diversion of the rupture conventional at the expense of Unedic.In the second half of 2010, the breakdown was 23% of the conventional reasons for termination for employees aged 58 to 59, against 8% of those under thirty years … so companies would use this system to be financed by the Insurance which is similar to put in early retirement.

In some cases, break "friendly" is also related to a dismissal. The report by Mathilde Lemoine and Etienne Wasmer on the mobility of employees said that the profile breaks conventional evolves quite parallel to that of redundancy. This observation would argue, according to the report, for use of the device in lieu of redundancy at the expense of employees.If the Ministry of Labour is responsible for control conventions and to avoid abuse, the lack of support for employees during the preliminary interviews, often in small businesses, not easy by regular use of the device.

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The chances of Christine Lagarde at the IMF confirms

Christine Lagarde is likely to succeed Dominique Strauss-Kahn to head the International Monetary Fund (IMF). In any case, the scenario that emerges, as the Japanese business daily Nikkei, citing sources close to the international finance on Wall Street. The newspaper said the French Minister of Economy, the only officially declared candidate with the Mexican Agustin Carstens, get the support of the United States and Japan, the first two countries of the organization by number of votes. Also according to the Japanese daily, this support would be provided by Washington and Tokyo from June 10, the official date of filing of nominations.

No reaction from Tokyo at the moment on these assumptions, the finance minister Noda Yoshikiko having limited to clarify that the new IMF chief should be chosen through an open, transparent and based on merit.

Priority to emerging

These signals confirm a nomination well under way for Christine Lagarde. But out of interest, no premature triumphalism. The French minister continues his world tour to defend his candidacy and try to answer the demands of emerging countries in search of better representation.

These are also priority figure in his travels. After being in Brazil May 30, she will visit India on Tuesday, then in China. In total, four or five days of campaigning in Asia "" listen to the voice of these countries on the IMF and possibly take into account their recommendations into its program, "according to his entourage. Finally on June 10, the Minister will travel to Lisbon to meet his African counterparts.

In its international campaign, Christine Lagarde also can probably count on strong support from Germany.Monday's visit of Angela Merkel in Washington to discuss with Barack Obama instead of the IMF is emerging from this point of view of good omen. It could allow the German chancellor to convince Washington, if not already done so, whether to support the European candidate.

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Slow start for the chain of Oprah Winfrey

Oprah Winfrey is far from having won his wager. Launched in early January, its new cable channel: Oprah Winfrey Network, OWN has not yet been proven. After initial success due to the curiosity of millions of Americans who admire Oprah, the chain is always looking its audience. Over the last three months, attracting 149,000 viewers on average than at any time of day. Only 6% better than Discovery Health, chain it replaced in bouquets of U.S. cable operators.

In prime time, the programming feature designed by the world's richest television, attracts 291,000 viewers on average, only 17% more than the emissions that Discovery has dropped to make room for this joint venture to 50 % with Oprah Winfrey.It is the first attempt to climb a chain around the aura of a personality.

Oprah Winfrey and Discovery remain optimistic. Provided their goal of break-even point in the first year of operation of the channel seems increasingly elusive.

Discovery has agreed in any case to inject 50 million dollars in the project this year. An amount in addition to the 189 million already invested during the preparatory phase to launch OWN, which lasted nearly three years.

Wrath of the "queen"

According to the press in the gossip of the media world, "the queen of talk show" was angry after a series of meetings with colleagues, alarmed by the poor viewing figures cash advance. "I built this system with my own hands, I expect all those who are employed here work hard for the next two years.If the audience rating does not take off soon, heads will fall, "shouted the imposing Oprah Winfrey.

First decision to boost its ratings, OWN announces six new series of programs. These documentaries or reality television productions. "Confronting …" for example, presents the efforts of crime victims to face their attackers.Both parties try to experience each other overcome their trauma.

Another program "Unfaithful: Stories of Betrayal" (Infidel: Stories of treason) shows how couples torn by adultery manage to save their relationship with the help of a therapist.

These original programs are supposed to support the public's attention before the "queen" in no more come in September consistently lead the interviews and documentaries on its own channel.

Indeed, paradoxically, the great "talk show" Oprah's syndicated on hundreds of different channels are not broadcast on OWN. Its latest edition, scheduled on May 25, looks spectacular. Oprah calls on advertisers not less than one million dollars for an advertisement of thirty seconds.

How to fix prices of gasoline

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McDonald's to the conquest of China

McDonald's has more than 32,000 restaurants in 120 countries around the world, serves over 60 million meals a day and employs 1.6 million people. According to recent estimates, McDonald's opens a new restaurant every three hours, two-thirds were born outside the United States.

In 1955 McDonald's opened its first restaurant in Des Plaines, Illinois. The concept worked so well that he started in 1967 exported to Canada and Puerto Rico. From 1988 to today, the company opened 80 new markets, more than 5 per year. In 1994 the big "M" was installed in more countries: 9! What makes some people say that the sun never sets on the McDonald's empire.

However, throughout its history, McDonald's has failed in one country. In late October 2009, the last restaurant closed in Iceland (the first was out of the ground in 1993).Not that the Icelanders did not appreciate its menus. On the contrary, but the business was not profitable because of the collapse of the Icelandic krona, which has weighed on prices of imports of potatoes, packaging, meat, vegetables and cheese.

Among the "stories" shock of McDonald's, we can see that it is Moscow that is the restaurant – 27 cases – the busiest in the world, with 40,000 customers a day guaranteed fast personal loans. So when the first McDrive opened in Kuwait City in 1994, there was a queue of 12 kilometers.

China, El Dorado McDonalds

China and its 1.4 billion people are dreaming Mc Donald's, intending one day to match its U.S. density, namely a restaurant per 20,000 inhabitants. In China, it would make 70,000 restaurants. For now, there are 70 times less.But McDonald's is growing there at a phenomenal rate.

Demonstrate its commitment to China, McDonald's issued in August last oblilgations denominated in yuan. A first for a non-financial corporation whose headquarters is not based in Hong Kong. The amount of the issue is not very high (30 million), but the operation is highly symbolic.

By focusing on a currency destined to become a reserve currency, McDonald's hopes to raise up funds to enable it to open between 150 and 175 restaurants in China per year. Already, sales of the brand in the Middle Kingdom are rising, as evidenced by the increase of 10.1% of its turnover in the country in July year on year.

The recipe for success

McWedding in Hong Kong. Photo credits: localhost / localhost

Balthazard Michel: "I want to recognize my innocence Renault"

LE FIGARO. – How did you get into this business?

Michel BALTHAZARD. – It hit me on January 3 at 8:00 am. My supervisor, who was Odile Desforges, had convened a meeting under the pretext of talking about a problem. I came from vacation with my family. Soon, Jean-Yves Coudriou, the executive director of the Renault executive who took his place. He said: "Michael, we t'accusons corruption by organized involving the interests of Renault and possibly the benefit of a foreign power." He added: "You must tell us why you did it." I told him I did not understand what he told me. I asked him the items. He refused to give me. After 10 minutes, I told myself: "You've fallen into something unimaginable."He served my notice for interview prior to possible dismissal on January 11 with the letter that goes. It stopped there. At 8:30 it was over.

What happened next?

Two members of the security escorted me to my car. At 9:30 am, access to my two laptops and the Intranet was cut. I just had time to call my wife. The next morning, I called Jean-Yves Coudriou and I reminded him that I had not done anything, never committed any crime, the slightest mistake vis-à-vis Renault. I am a stranger to this whole thing, do not resign and Renault's interest to conduct a serious investigation, 'I said.

How did your interview prior to dismissal, the 11?

Jean-Louis Coudriou read me the letter of dismissal.I asked two questions: what evidence you have on the money that I received from abroad? What builds your belief that I gave information in exchange? He said he does not tell me anything and he would give all the elements to justice. I came out, it lasted 20 minutes. Through the front door, which surprised many Renault. Since then, the group does not send me any information. I discovered all by the press.

How did you experience the following weeks?

It was horrible. I spent a month dispirited, sounded like a boxer who took a knock on the head. I spent days sitting in a chair thinking: what happens? What will become of me? I am nothing. It's awful. I could not do anything. I forgot my keys on the same door out to buy bread.I got into a big void. Did not call nobody or almost. And when the phone rang, I jumped.

Have you been questioned by police since the beginning of the case?

Yes, twice, 8 and 17 February, by the police to confirm the complaint that my lawyers had filed for false accusation after the anonymous letter. This letter is pathetic, there's nothing inside. For me it's a filthy garbage which I do not know the source. I have only one certainty: This letter was posted by someone at Renault. When I think it is from this that some have found it in three months dessoi-called offshore accounts and a whole complicated financial circuit. It's very hard …

But you have heard from the DCRI investigating the suspicions against you?

No, nothing. No one came or called me to ask me any questions.Yet every morning, I was expecting a raid at my home by the Central Directorate of Internal Intelligence. With my wife, we had prepared all my bank records. I did not see it coming and stayed as paralyzed. Apart from my family and friends, I have not told anyone.

You do not even try to join your former colleague Bertrand Rochette, also in turmoil?

If during the first two days of the case, I called Bertrand after discovering that he was also accused. I asked him what had happened. He replied that he too could not understand what was happening by adding "I do not resign …." Then, by tacit agreement, we made the decision not to call us.Only last Friday, when reading the words of Patrick Pelata in Le Figaro, that I contacted him because Renault's position has changed and history is now unraveling. Finally, we begin to see the end of the tunnel and the truth will finally burst …

That is to say?

For me it is incomprehensible. Initially, plumb in front of Renault, I expected that I was so doctored evidence to me that one waving a fake file or fake bank accounts as the Clearstream affair. But ultimately, I think we're dealing with a fraud much less complex than that, a rather rough handling.

You want to reinstate the company?

I measured with this case, the total lack of confidence in the general direction towards me.And to think that I can work again in this framework, with people who claimed the convictions as what I was guilty I simply unimaginable. No going back to work at Renault. It's a tear. I love this club and I still love it. Every morning I went to work with pleasure. I had teams that I like. I must make up my mind all that. It's very hard. Today with my wife, one wonders about the meaning and balance in our lives.

Will you seek redress?

Of course! I was still dirty and thrown to the lions in front of the world. Naturally, I will ask for financial compensation to the height of the terrible harm that I caused. As a member of the steering committee and director of projects "upstream", I was paid about 300,000 euros per year, including bonuses.I still had five years to the company, the top five in terms of wages. I would work but surely I shall never find the same type of salary and responsibility. I lost my honor and part of my physical resources. And I can tell you that after 33 years of career, I left Renault with 389.51 euros for final settlement.

You suspect you are rich, what is your lifestyle?

I am an engineer and I have no particular lifestyle. Like every year, I went to Tignes at Christmas to family skiing with my children in a rental that cost me 2800 euros. I spent my vacation last summer in my country house, bought twelve years ago, near Lyons-la-Forêt in Eure. And then in May 2010, I went with my wife to do the Tour de Corse motorcycle, with my old BMW. It is true that the night we slept at the hotel. Finally here.What do you want me to tell you …

Would you like Carlos Ghosn all responsibilities?

Senior management must take responsibility, but I want to say that Renault is a company I love and I do not want to destabilize. I have no desire for revenge. I do not want to fall head. For the parallelism of forms, I expect Carlos Ghosn returned to log 20 hours to announce that he was wrong. I also expressed that the prosecutor on the radio as he did when he received the complaint.

If your innocence is proven, will you file a complaint against Renault's your turn?

It would not be responsible, as a former officer to go to court. I will do nothing to put the company at risk. I am confident that Carlos Ghosn, Patrick Pelata to meet their responsibilities.My goal is that my innocence is acknowledged publicly and officially. Overnight, I was kicked out, thrown into this lamentable affair without anyone at the branch, has had the courage to say anything in front. And that, I do not admit it. On 18 January, I put my business in Technocentre and I found myself outside. I crossed one. It was 10 o'clock in the morning. It was 33 years old who stopped. I will not come here anymore I tell myself, except the day I speak with Patrick Pelata and Carlos Ghosn. Eye to eye.

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The euro on the threshold of $ 1.40

The financial community expected that the European Central Bank (ECB) to get tough. But to consider a rate rise was "possible" in April! Investors, who already played the euro rising against the backdrop of the prospect of European monetary tightening before the Fed (U.S. central bank), have supported stronger click "purchase" of the euro / dollar.

For a rate increase is indeed positive for the relevant currency, as it increases its return to investors. Here is the euro, which makes colors against the dollar would be shunned as relatively less profitable than the euro.

So this Friday morning, the euro is calm there on the foreign exchange market after the storm yesterday. Before the meeting of the ECB meeting yesterday, the euro settled on a strong technical resistance at 1.3860 dollar.Thus, whether the tone of Jean-Claude Trichet was less pronounced than expected, while the euro fell back quickly, he stated his goal is to arm themselves as soon against inflation which puts pressure on the Old Continent and the euro climbed.

The second scenario had taken place, the euro soared, almost touching the psychological barrier of $ 1.40. According to technical analysis, this upward trend should continue, to the point of joining the new resistance at $ 1.43. A level reached in November 2010.

Jean-Claude Trichet has panicked markets. His message was clear: at the first sign, the ECB will react even if the economy of the euro area must suffer. The ECB has no mandate to support growth or to assist countries in difficulty, it must ensure moderate inflation for all inhabitants of the area.

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