Customers should they pay more for their Internet access if they over-consumption of online video? Providers of Internet access they can slow the rate of subscriber connections that download on the Internet? No and no, slice the report of the mission on the neutrality of the Internet and networks, introduced Wednesday by deputies Laure La Raudière (UMP) and Corinne Erhel (CBC) Economic Affairs Committee of the National Assembly.
Anxious to "protect the Internet" in its current form, they detail the nine principles that should ensure an open Internet or "neutral" for Internet users. Proposals trenches that contrast with the approach of a "traffic control" as proposed by the Minister of the Digital Economy, Eric Besson.
The cornerstone of this report is the inclusion in the law, the principle of net neutrality.Its definition could be slipped in the Postal and Electronic Communications: "Capacity for Internet users to send and receive the content of their choice, or use the services to run applications of their choice, connecting the equipment of their choice (…) with a transparent quality of service, adequate and nondiscriminatory. "
The report also estimates that only obligations of a judicial or security must justify blocking access to the Internet. Therefore, access to file sharing sites should not be blocked upstream. "The network would not be neutral if the peer-to-peer was degraded," say the MPs, because peer-to-peer is used both to pirate music or movies that innovation as Internet telephony Skype.This does not apply the law to hackers.
Participate in financing
It does not include the principle of network neutrality into law, it is still necessary authority to enforce it. This authority could be the policeman telecom Arcep or judge. The authority will be particularly responsible for preventing telecom operators to restrict access to Internet content. The report wants to "reserve the term Internet access to only deals with the principle of neutrality."Thus, a mobile operator could no longer sell "unlimited Internet packages" when consumption is limited for example 500 megabytes per month or if it refuses to install applications like Skype Internet telephony.
If equal access to the Internet and is ringfenced from the Internet side, it remains to ensure services for publishers – video platforms, social networks, connected TV applications. For the service providers, the report proposes to "further reflection" on their participation in the financing of the Internet and network investment. He claims such a precise study of the costs of increased traffic on the Internet.Where appropriate, the report recommends that a mechanism by which sites get the traffic (such as YouTube, Google, Facebook, Skype …) are involved in financing networks by paying a kind of right of way. "It would stabilize the cost sharing of the network … and could encourage smaller players content," the report said. But it's a story at the European level.
After an initial meeting weekly with no real trend, but a Dow Jones closed at its highest level in almost three years, U.S. equity markets should open very carefully on Tuesday, or even slightly down. At 12:30, the contras futures on the Nasdaq 100 and S & P 500 retreated 0.89%, respectively, and 0.44% at 2319.75 points and 1323.30 points.
They follow and pessimism seen on Asian markets, where apart from Shanghai and Hong Kong, closed on Tuesday, the Nikkei closed down more than 1%, hit by falling Tepco. Elsewhere in Asia, other financial markets were maintained. In Paris, pessimism was more marqué.Après having opened at equilibrium, the benchmark index in Paris fell back by 0.7% in mid-session.
After a Monday without major macroeconomic data, indicators on the health of the U.S. economy will still be scarce today.The ISM index of activity in services is expected in March to 16 hours. At 20H00, investors should also pay attention to the publication of the minutes of the Fed. What still leave room for a large international events and international events, primarily Libya and the political situation in countries of North Africa and Middle East
For weeks, these geopolitical events strongly impact the price of oil, which continues to run around $ 120 a barrel in London. "However, the U.S. indices show a high resistance to higher oil prices" moderates Christian Parisot at Aurel BGC. These have reached new highs in New York and London this morning, where the barrel has exceeded 120 dollars for the first time since August 2008.The Saudi oil minister, for his part felt that crude prices could reach 200 to $ 300 if the protest movements reached Saudi Arabia, the world's largest producer of oil.
Very low volumes, wait until the first quarterly
"The volumes are anemic, less than a third to a session average payday loan online…" said Christian Parisot. Yesterday on Wall Street, the volumes traded on the Dow Jones did not exceed $ 114.3 billion. In future sessions, attention should also be persistent. The publication of quarterly results Monday from aluminum giant Alcoa, traditionally the first American group to disclose its financial results, should give the animation of the exchanges.
Side currency, the euro lost it again a little ground Tuesday after hitting the day's highest level in five months, traders ensuring some benefit in a cautious market anticipates a rise Thursday in the rate of the Bank European Central Bank (ECB). Around 11:20 in Paris, the single currency was worth 1.4182 dollars against 1.4220 dollars on Monday in 23:00.
Finally, the corporate side, many values are to be monitored, including:
Google – the Internet giant said it could be the target of an extensive investigation by the U.S. Federal Trade Commission, regarding possible anticompetitive practices. An investigation that could jeopardize the acquisition by the group of ITA Software.
Texas Instruments – manufacturer of semiconductors has announced tonight the redemption of his fellow National Semiconductor for $ 6.5 billion.
Note that according to the Wall Street Journal, the exchange operator Nasdaq OMX-like lower than 20% to 12% weighting in the Nasdaq 100's electronics giant Apple. Other technology stocks would be affected by this new calculation, such as Oracle and Intel (downwards), while Microsoft, and Cisco Systems would increase their weighting.
Bank of America – The giant bank would be under increased surveillance of the U.S. market regulator (SEC), which asked him last week to provide more detailed data on its financial reserves to enable it to cover the cost of mortgages repaid name.
• Pricing of gasoline at the pump • Price: the reasons for the surge • The difficulty falling consumption • "Get used to high oil prices" • Set the price of gasoline at the pump • Price: the reasons for envoléeTroubles …
The Courdi accounts furnish his report Friday on the Franco-German tax convergence. According to our information, this report concludes that there is some leeway in France for the VAT hike, but they should be used as part of a major tax reform. He advocated focusing instead on business taxation in order to align the two countries 100% free credit score.
The Court would consider in the future produce a joint report with the Germans focused on corporate taxation. This time it was a true co-relation. The report was issued Friday, he, been realized only by the French Cour des Comptes, which relied on the help of German authorities.
This fifth meeting lasted two hours and a half, and its agenda was presented to a future meeting. Venus discuss the benefits and marital family – widow's pension and bonuses granted to employees who have three children – the trade unions have shifted the debate on the issue of resources.
This Thursday, the social partners had initiated the meeting in a studious atmosphere, but negotiations have progressively strained. The CGT had called on workers to organize rallies – which have remained small scale with a few hundred people – all over France. "Having called the employees involved did have some effect on the negotiations", said to reporters Eric Aubin, leader of the CGT delegation."We had a pretty firm intervention of trade unions on the fundamental question of resources," he said.
Lower yields
Long surplus, private pensions of employees (Arcco) and senior (Agirc) suffered from the crisis and must draw on their reserves to stay in balance. Contrary to the general scheme, they can not actually be losing money. Their rate of return decreases over time and the unions have approached these negotiations with every intention of claiming the stabilizing additional resources."The rate of return over the past 17 years has declined from 25% to Arrco and 30% Agirc, which has the effect an immediate impact of a magnitude roughly equal in terms of replacement rate" , that is to say the percentage of the pension paid from the last salary, says negotiator CGT.
But if everyone agrees on the need to stabilize the rate of return, the remedy proposals diverge. Some unions do not exclude a small increase in contributions from employees. The CFTC proposes 0.4% over two years on the employee and employer contributions. An event which does not hear the employers' organization claiming a brake on competitiveness. Jean-François Pilliard, Medef like to share that the age for obtaining an additional full rate should be extended by 65 to 67 to match the general pension scheme.It also refers to a "greater coherence" between the two regimes and Arcco Agirc. An idea which is wary of the union CFE-CGC executives who do not want a merger. The employers also encourages the control of management costs which he estimated at 1.8 billion euros per year.
Socviaux partners must meet again on March 9. At the sixth meeting, the MEDEF submit for the first time, written proposals. The supplementary pension schemes Agirc-related Arrco 17.5 million private sector employees, including 3.7 million senior and retired 11.2 million, including 2.5 million former executives.They pay every year 63 billion euros in benefits, which account for two thirds of the Executive Pension.
(With AFP)
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The figure is historic. The hole public finances widened to 148.8 billion euros in 2010 against 138 billion a year earlier, said the Budget Ministry on Tuesday. This is not unexpected, as the minister has already spoken Baroin mid-January a similar amount during the presentation of its balance sheet in 2010. The deficit is well below one billion euros from estimates in September and should be a little less than 7.7% of gross domestic product (GDP).
The French budget was the victim of a margin squeeze due to memories of the crisis: spending and increased revenue has not covered their level before 2009. On the one hand, income taxes and related taxes, whatever the rise, have remained low and amounted to 274.9 billion euros (against 237.2 billion in 2009).In detail, tax revenues, the lowest in 2009, jumped 17% last year. Particularly affected during the crisis, the corporate tax has regained some lost ground (57.2%). The VAT revenue rose 7.5% and income taxes of 1.7%.
Expenditures, particularly related to the "great debt" and welfare systems, for their part, increased by 15.9%, reaching 452.7 billion euros in 2010 against 367.1 billion the year before . Involved, social protection expenditure, linked to rising unemployment, but also the Grand borrowing and "investment for the future".This last item of expenditure will still not taken into account when calculating the budget deficit following the European rules payday loan.
Objective 2011 "achievable"
In 2011, tax revenues of the state should continue to increase, and the effect of the "great debt" on public finances will disappear, "said Dominique Barbet, in essence, BNP Paribas. "As a result, the deficit of 148.8 billion euros to 92 billion euros, as the government wants, is feasible," said he."Similarly, the deficit target of 6% GDP could be achieved, especially if growth is close to 2% as required by the government." One hypothesis considered optimistic by economists until the publication by Banque de France on Tuesday morning for a first estimate of economic activity increased in the first quarter of 2011.
The government intends to reduce the public deficit to 4.6% of GDP next year, then to 3% in 2013, the limit set by EU rules. Nicolas Sarkozy intends to introduce a second "golden rule" constitutional deficit.Clearly it is, as already done in Germany, set a limit to the deficit in the constitution.
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The new governor of Bank of Tunisia launched in Davos, a call to the international investor confidence. Echoing one of the slogans of the protesters that led to regime change, "democracy is good for investment," Mustapha Kamel Nabli said that "the payment system works, as banks and foreign payments and there is no pressure on the exchange rate. "
He did acknowledge that some sectors such as tourism he said, are being "disorganized" because of political changes. Nevertheless he believes that the economic situation is "under control. We do not need any outside help. Our foreign exchange reserves are strong. "Deliberately adopting a technical language, this former academic who went through the World Bank, explained that "the fundamentals (economy) is good, the workforce is educated."
Asked about the country's gold reserves, he said a physical inventory has been made by a team of two internal auditors and two external auditors to the Bank. It appeared that the gold reserves held in the coffers of the institution in Tunis s raised to 5.7 tonnes, combined 1 payday loan lenders.4 that was tabled at the Bank of England. Total reserves are consistent with the actual IMF figures (nearly 6.8 tons).Contrary to rumors that the wife of former President Ben Ali would have won 1.5 tons belonging to the Central Bank, the reserves of the latter are intact.
A former executive of Ernst & Young
Mustapha Kamel Nabli identified himself as an academic, who joined the government after Ben Ali in 1990, broke away in 1995 to emigrate. He is accompanied in Davos two new ministers who have just been appointed. On the one hand, Yassine Brahim who support the Ministry of Infrastructures and Transport and other Sami Zaoui. This was until very recently a part of the auditing firm Ernst & Young in Paris, where it was established 23 years.He is now head of the Department of Computer Technologies and Information.
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Following the media intervention of Carlos Ghosn, CEO of Renault, the tension was far from settled. Monday in the offices of his lawyer, Christian Charriere-Bournazel, Bertrand Rochette, one of three executives fired for "industrial espionage", insisted he would not be the scapegoat in this affair. " The gaunt, emaciated but feisty, he told her "feeling of being trapped in a machine, a system in which there are very important interests."
In charge of the investigation, more than ever in the Central Directorate of Internal Intelligence (DCRI) is the responsibility of delivering the necessary clarification of this spy case. However, investigations begin with difficulty.According to our information, the cons-espionage, acting as part of a preliminary inquiry on January 14 by the Paris prosecutor, had still not on Monday obtained a copy of the private investigation involving three senior before Christmas and sent to the leaders of the group. The police are still only a mere reconstruction of verbal conclusions reached by this mysterious pharmacy.
Last Friday, Marc and Dominique Tixador Gevrey, two security officials the manufacturer, were heard as witnesses to verify certain aspects of the case. They had been entrusted to conduct discrete research after receiving an anonymous letter accusing the end of August, namely two frames.A source familiar with the matter said Monday Figaro they called a "foreign intermediary, based out of Europe" that was then "outsourced the job" for small hands to get a series of "information "in four months. Namely the discovery, for the modest sum of 50,000 euros, an alleged secret payments system of bribes bribes from big Chinese companies, through intermediaries in Shanghai, Hong Kong or the Isle of Malta, on accounts in Switzerland or Liechtenstein.
"About nuanced"
Under what conditions this "mechanical" rather sophisticated Was up? The hypothesis of a "Tricoche," that is to say, getting "tips" in dubious circumstances by public officials or employees unscrupulous rounding their monthly on behalf of pharmacies, do not appear rejected payday loans with no fax."The DCRI will take time and go to the end of this investigation," an official confided Monday, revealing that "everything that was done before the entrance ramp of cons-espionage has no legal value" . Clearly, only the police investigations will finally provide valid evidence and admissible in the proceedings.
For its part, the manufacturer maintains that, in this case, the information that led to the dismissal of three executives "were combined in a legal manner." Nuancing the words of Carlos Ghosn, who spoke on TF1 evidence of "multiple," a spokesman said the group had never claimed to "have evidence" but that "he had sent a number of elements to justice. " Relying on the findings thereof, the manufacturer does not implicitly have been a victim of manipulation.
For Pierre-Olivier Sur, the lawyer Michel Balthazar, statements by the CEO of Renault in the media on Sunday, show that his client "is de facto exonerated," as it was, by his position as director of " upstream projects and benefits "," keeper of secrets, or the complaint does not address these issues, "but the business model for electric cars.
According to sources familiar with the matter, defenders Michel Balthazard could seek the counsel for Renault he is with them in the complaint "for false report" filed by their client. This complaint was not, in fact, Renault, but the author of the anonymous letter that started it all.
After helping to regret Greece, Ireland or Portugal, the European Central Bank presents the bill to its shareholders, the European governments. The ECB could ask at the summit of Heads of State and Government on Thursday a capital increase to offset the redemption of debt of struggling states, according to sources close to the institution cited by news agencies.
The ECB has so far bought back nearly $ 72 billion to struggling states' obligations to prevent the crisis from spreading in the eurozone. This measure, the ECB has taken reluctantly last spring, while the states were struggling to stem the contagion of a weak state to another.
Cushion
But buying government bonds in trouble, that is to say stocks that lose value every day in the markets, reduces the size of the balance sheet of the ECB.In other words, it deflates the cushion. "The ECB and the entire network of national central banks in the euro area, the Eurosystem has already committed 5 times the amount of its capital in the battle, that is to say in redemptions of bonds and the short-term loans to banks in difficulty, "said Gilles Moec, economist at Deutsche Bank.
If the portfolio value of the ECB lose 20% because of plummeting government bonds it holds, then it would undermine the Eurosystem faxless cash advance. To avoid being in situations of near bankruptcy, the ECB would therefore require States to bail it out through the national central banks. However, as all states are in deficit, they would have to remove themselves from the money markets. An expensive operation.
Besides a precautionary measure, requested by the ECB would therefore also sent a message to European states on how "what I do for you is not free." Some states might think that so far as the ECB somehow control the fire, they still had time to find a more permanent solution to the crisis.
Toward more acquisitions?
However, the markets could interpret differently a capital increase by the ECB. "There are two other ways to include the strengthening of the mattress of the ECB," says Cyril Reignat, Natixis: "Either the ECB to be ready to compensate its losses, or it is a first step toward redemption bond issues. "This message would defeat the objective of the Central Bank, which wants to stop as soon as possible its aid program to states in need.
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"Do not reassure the markets, we must take the necessary decisions," said this morning Jean-Claude Trichet at the microphone of RTL. In other words, the boss of the ECB believes more gestures than words. He proved it yesterday. The European institution has indeed made great ways Thursday to fight the debt crisis that is suffocating the euro area.
When the President of the European Central Bank held the reassuring to the markets, the institution has purchased massive amounts of debt securities of Irish and Portuguese States, the Financial Times. The British newspaper revealed on Friday that because the monetary institution was bought yesterday by increments of 100 million euros of government bonds Irish and Portuguese, for a total budget four times higher than the previous interventions.Meanwhile, Jean-Claude Trichet held a duiscours confirming the setting up of a redemption of securities of states "unlimited", but without giving any amount.
Interventionism necessary
Mechanically, these operations reduce the rate of borrowing and thus illustrate the effectiveness of speech … long opposed the use of such devices, described as "nuclear weapon" by the markets, the ECB had already bought for 67 billion euros of government debt in May.
Interviewed on RTL, Jean-Claude Trichet reiterated the need for the ECB to continue to intervene. The head of the Central Bank said the ECB had decided on Thursday to "continue to supply liquidity, over periods of one week, one month and three months of unlimited."The President also said: "We left the interest rate level which was that we had before the meeting, 1%, and we think that's what it takes to continue to give our citizens . Price stability is our mandate. " Jean-Claude Trichet estimates that the ECB has fully achieved the latter objective: "In twelve years since the creation of the euro, price growth has averaged 2%," he said, stressing that "price stability is essential for the poorest and weakest among us."
The euro is "no crisis"
In addition, Jean-Claude Trichet has assured that the euro was "credible" and not "in crisis as currency.""There are problems of financial instability that are due to a budget crisis in some European countries," he added.
Terms that are echoes those of German Finance Minister, Wolfgang Schäuble. In an interview with Les Echos, said he was "totally convinced" that it is possible to "maintain in the future the euro as its currency stable world."The German minister added that the single currency "is not only a big advantage for the Europeans," he said "the global economy as more and more interdependent, has an interest in a strong European currency."
Asked finally on the fact that Axel Weber could succeed him as head of the ECB, in a year, Jean-Claude Trichet said: "I have no comment."
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