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

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

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

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

Curb rising fuel

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

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

(With AFP)

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AT & T buys T-Mobile USA for $ 39 billion

Redemption spectacular in the United States: the incumbent telecommunications operator AT & T has formalized an agreement Sunday with the German Deutsche Telekom to buy back its mobile phone subsidiary T-Mobile USA, the fourth player in the U.S. market. Amount of transaction: $ 39 billion (27.5 billion euros).

The transaction involves two components. On the one hand, AT & T will pay $ 25 billion in cash to the operator Deutsche Telekom. The other, the German group will take nearly 8% of its U.S. partner, and get a seat on the board.

Until now, T-Mobile USA accounted for nearly a quarter of the activity of Deutsche Telekom. But the subsidiary, less and less profitable, had become a source of concern.

For its part, thanks to the purchase of T-Mobile USA, AT & T should regain its leading position in mobile telephony in the United States, with more than 33 million customers. A chair that he had abandoned in 2009 in favor of Verizon.

Blocked overnight in a train

The stage at Brussels was not to last as long. Friday night, two Thalys from Amsterdam to Paris and were forced to spend the night at the stop at Brussels Midi station, registering a total delay of about 14 hours on their arrival in Paris on Saturday morning.

The origin of this disruption, a technical default on the first train left at 6:16 p.m. Friday in Amsterdam. To remedy this, the train is coupled to a second train has left the Venice of the North one hour later.The operation takes a long time, so much so that the arrival of two trains in Brussels to 23 hours, it is too late to pursue the road: "The network of high speed rail network in France (RFF) was already closed at night for maintenance, "said a spokesman for Thalys, Patricia Baars.

"We tried everything, but it was not possible to make the trains run outside the operating hours of commercial network," French said the representative of the rail consortium.

Not enough room at the hotel

And the trouble does not stop there. As it is too late to implement an alternative system of transportation by bus, according to Patricia Baars, passengers are forced to spend the night there.But again, a new obstacle: "It was not possible to find hotels in the immediate vicinity of the Brussels-Midi station to house some 400 people," says Patricia Baars.

Some passengers decide to leave to go and look for a hotel in downtown Brussels, at their expense personal loan for poor credit. The approximately 250 remaining up for the night. "They received a meal and hot drinks. The train was heated, and watched the train, "said Patricia Baars figaro.fr.

Not really a version shared by Marta Ayala, 38, transient. Station in Brussels, "everyone left the train. Workers, drivers, everyone is gone. Without telling us anything, "she testified. "The passengers left the train to get information. There was nobody on the docks. Thalys offices were closed, "she added, pointing to photos taken in the night.

"Around 0:15, the security personnel were brought boxes of food. Still no explanation. Then at 6:30 this morning, we were told to change trains, "she adds angrily. "I paid 200 euros, just the casual, the service terrible."

Thalys says that all passengers will be reimbursed for their tickets, and any other compensation – for nights hotels, missed connections – will be considered on a case by case basis.

Both trains were eventually depart at 6:40 Saturday morning, arriving with a delay of 14 hours for the first Thalys 6:16 p.m. and 1:00 p.m. respectively. This is roughly equivalent to that recorded by the drill nuitStrasbourg Port Bou / Nice, who had accumulated a series of incidents during the night of December 26 to 27.

Obama tackles the budget deficit

President Barack Obama on Monday presented to Congress his budget proposal for 2012, which aims to reduce the federal deficit of 1.100 billion dollars (about 800 billion euros) over 10 years, but the Republicans deem the decline spending too limited.

The White House expects a budget of 3.729 billion dollars with a deficit of 1.645 billion for fiscal 2011, began in early October and 1.101 billion for fiscal 2012. This trend would reduce the deficit to 3.2% of gross domestic product (GDP) in 2015, against 10.9% this year.

"The fiscal realities we face require tough choices," said Barack Obama elected to the Congress. "Ten years of deficits, compounded by the effects of the recession and the measures we have taken to get out, (…) we have placed on a trajectory untenable.That is why my budget charts a course that will repay our debts. "

Two thirds of the savings provided by the budget come from reduced spending and lower predictability of debt service as the deficit will be eliminated.

Deletion of twelve tax loopholes

The rest came from increased revenues, including the expiration of the tax compromise negotiated in December with the Republicans, who control the House of Representatives. This text extends for two years, tax relief inherited the presidency of George W. Bush and also extends benefits for long-term unemployed.

Federal finances should also benefit from increased revenues due to economic recovery, as well as the elimination of 12 tax loopholes for companies specializing in oil, gas and coal, which is the aim of providing 46 billion dollars over 10 years.

"Both parties are seeking to reduce deficits, this indicates at least they share the view that one can be elected without being harsh on the budget," said David Ader, an analyst with CRT Capital Group.

The draft budget must allow Barack Obama to keep his commitment to its partners in the G20 to halve the deficit by the end of his term in January 2013, compared to taking office in 2009.To contribute to this reduction, Bush plans to freeze discretionary spending unsafe for five years, a savings of $ 400 billion over 10 years business cards design.

This measure involves reducing spending by more than 200 federal programs and will save 33 billion dollars over fiscal 2012. Defense spending will be reduced by 78 billion over five years, as previously announced, and those health 62 billion over 10 years.

The project anticipates a deficit of around 3% of GDP from 2015 and beyond, slowing growth in U.S. debt, even if it should rise to 77% of GDP in 2021 against 72% in 2011.

The budget will be adopted only after a long debate ahead among Democrats, the Senate majority, and Republicans, who control the House of Representatives."The president's remarks suggest that he understood that spending out of control, but his words are followed by any action," the group's leader accused the Senate Republicans, Mitch McConnell. "Americans do not want a spending freeze to an unsustainable level. They want cuts, drastic cuts, and I hope the President will work with us to achieve this quickly. "

The White House is more conservative than IMF

The White House also said to have revised down its forecast for U.S. GDP growth for 2011, but maintained its forecast of accelerating activity for 2012. Under the new draft budget law, the U.S. GDP would grow by 2.7% in 2011 and 3.6% in 2012.The previous forecast of state gave a GDP up 3.2% in 2011 and 3.6% in 2012.

The government is more cautious than the central bank (Fed) and the International Monetary Fund (IMF) for 2011. The Fed chairman, Ben Bernanke said that growth should be between 3.0 and 4.0% in 2011. The IMF expects him over 3.0% this year.

The government is however much more optimistic than the IMF for 2012, since the Fund said in January that U.S. growth should slow in 2012 according to him, to 2.7%.

The government says the unemployment rate, down, should nonetheless remain very high at 9.3% on average in 2011, then declined to 8.6% in 2012.

(With agencies)

The Paris Bourse celebrates 10 years of trackers

January 2001. All eyes on the United States, where already more than 100 such funds were traded, Lyxor, a subsidiary of Societe Generale, launched the first ETF in France. A fund that offers the same performance as the CAC 40, which is listed, and bought and sold on the stock exchange so as an action in minutes. A revolution for investors accustomed to having to wait at least a day to invest or withdraw from a conventional mutual funds. And quickly realized that the other advantage of this product: its price. The costs of managing an investment fund shares often exceed 1.5% per year. Those of a tracker on the CAC 40 are 0.25%.

Ten years later, this ETF (Exchange Traded Fund, the name International ETFs) is one of the 40 stocks most traded on the Paris Stock Exchange (the 36th in 2010). This is one of the largest equity fund French (over three billion euros in assets). And it has many competitors.Over 480 ETFs are now traded on the Paris, more than 1,000 in Europe. Investors have at their disposal to build on the ETF shares Russian, Chinese, Brazilian, but also on government bonds, corporate bonds … All indications are almost covered by one or more ETFs.

The most important (more than 6 billion euros), also managed by Lyxor, replicates the performance of the Euro Stoxx 50. In total, the outstanding European ETFs grazes 200 billion euros. Twice more than in 2008. The financial crisis has strengthened investor interest in these liquid products, so convenient when you have to invest very fast payday loans… or cut an urgent position.

A coveted market

Management companies are scrambling for a toehold so this growing market dominated by three heavyweights: BlackRock (branded iShare), Lyxor and Deutsche Bank.Credit Suisse, for example, has launched its first 45 ETFs on the Paris Bourse.

In Europe, the stock of these products is still low compared to those pension funds and mutual funds (2%). But across the Atlantic, it represents 10% of assets under management in funds. "If Europe reached the same level, ETFs could reach 525 billion there," said Nizam Hamid, head of Lyxor ETF in Europe.

And investors continue to subscribe. "Worldwide, the conventional mutual funds suffered net withdrawals of nearly $ 140 billion over the first ten months of 2010. ETFs, they have raised over $ 140 billion, "says Deborah Fuhr, global director of ETF research at BlackRock.

In the U.S., ETFs owe much of their success to investors."Over 50% of assets from individual investors," says Dan Draper, head of the ETF business at Credit Suisse. In Europe, however, are the institutional who made them successful. Individuals represent only 10% to 20% market share. But proponents of ETFs still cherish the hope of seducing them.

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The CAC 40 in early 2011 with a bang

Turn the page that was white this year 2010, as will be the focus of investors in the new year. The CAC 40 has lost more than 3% last year. Even if, as most experts point out, the first half is expected to remain difficult. In Europe, the priority is to continue to reassure investors on public debts, including Spanish, which should be the main attraction of financial markets.

In the wake of the Asian stock markets, the CAC 40 climbed 1.99% to 3880.60 points in mid-session. On the stock market in Frankfurt, the Dax gained 1.50% to 7017.98 points. The London Stock Exchange, meanwhile, closed due to holiday.Tokyo and Shanghai were also closed.

PMI Program

The manufacturing growth slowed slightly in December after reaching its fastest pace in 10 years in November, according to final results of the survey with Markit purchasing managers released Monday.The PMI manufacturing index rises to 57.2 in December against 57.9 in November, but was raised significantly compared to the first estimate for December (56.3).

Registrations of new cars has remained at a high level in France in 2010 to 2.25 million units thanks to the scrapping, which took full effect until his disappearance in late December, according to Figures released Monday by the CCFA.

United States, two indicators are on the agenda: construction spending in November, the ISM index of manufacturing activity in December to 16 hours.

In China, the PMI of non-manufacturing sector stood at 56.5 in December, winning more than three percentage points from 53.2 in November, which had represented a low of nine months, according data released Monday by the China Federation of Logistics and Purchasing.

On the foreign exchange market, the euro was down against the dollar on Monday due to uncertainties still the public finances of most vulnerable countries in the euro zone as Portugal and Spain. Around 11:00 am in Paris, the euro was trading 1.3303 dollars against 1.3381 dollars on Friday night.

Auto restart values

Values motor show the largest increases in the CAC 40, shortly after opening. Renault climbed 1.85% to 44.30 euros and Peugeot rose 3.03% to 29.27 euros.

GDF Suez: + 2.35% to 27.48 euros

GDF Suez would reflect, according to Bloomberg, to open the capital of its exploration and production industry. The group intends to finance investments and acquisitions to double its gas and oil.The IPO option would be rejected.

Lagardère: + 7.38% to 33.10 euros

Lagardere said Friday evening is in exclusive talks until January 30, 2011 with the American Hearst on the sale of its flagship news magazine world payday loans with no fax.

JC Decaux: + 4.21% to 23.99 euros

The title is submitted after the remarks, Business on BFM, its joint managing director, Jean-Charles Decaux, which said in part anticipate doubling the number of passengers in air transport by 2030 to 11 billion people."There is nothing new but it's enough to entice investors on vacation last week to catch up on the title," said an analyst.

TF1: +3.5% to 13.44 euros

TF1 is doped by a news television station confirming its position as the leading chain in France.

ArcelorMittal: + 2.04% to 28.96 euros

ArcelorMittal raised its offer on Friday the Canadian mining group Baffinland Iron Mines, matching the offer per share just relieved of Nunavut Iron Ore Acquisition. Baffinland has recommended that shareholders of ArcelorMittal accpet the offer and reject that of Nunavut.

Wendel: + 0.06% to 68.95 euros

According to the Journal du Dimanche, the IRS alleges that a financial Wendel established in 2007 granted 14 of its leaders.They were imposed in May 2007 a total of 324 million euros in shares, to interest them in their business results.

Euler Hermes: -2.38% to 69.85 euros

Euler Hermes does not increase its rates in 2011 and has been a downward pressure on certain contract renewals, as the chief executive of insurance group credit, Wilfried Verstraete, in an interview with The Tribune.

Saint-Gobain: + 3.17% to 39.72 euros

The American group Coorstek announced the finalization of the acquisition of advanced ceramics division of Saint-Gobain.The transaction, amounting to $ 245 million, was announced by Saint-Gobain end of June.

Technicolor: -1.27% to 3.51 euros

Technicolor announced Monday it had completed the sale of the professional broadcast its Grass Valley division, which supplies equipment for television and film, to Francisco Partners.

Gemalto: + 0.31% to € 31.95

Gemalto and Verifone Systems have strengthened their strategic partnership including the acquisition by VeriFone activity of payment terminals (POS) and the designation of Gemalto Gemalto as a preferred supplier of wireless modules Machine-to-Machine (M2M ) and related solutions for payment systems, VeriFone.

Axa: + 2.45% to 12.75 euros

According to the website of German newspaper Die Welt, thirteen industry groups, including Axa, have urged the European Commission to impose sanctions against Hungary, accused of anti-competitive measures.

On the currency markets, the euro started the year down 0.64% against the dollar at $ 1.33, after three consecutive sessions increase.

Nexans waives make an offer on Draka

Nexans did not lodge a bid for the Dutch group Draka become the object of a bidding war between the Chinese and Italian Tianjin Xinmao Prysmian. The regulations in force in the Netherlands required the French group confirmed it by November 24 its intentions vis-à-vis Draka.

Nexans (…) his intention, in light of current circumstances, not to file a document relating to such offer from the Dutch Financial Markets Authority, "wrote the French group in a brief statement. "We will remain attentive to developments in the case Draka, then said a spokeswoman of the group.

Nexans, the worldwide cable, announced October 18 a proposed bid for Dutch rival the price of 15 euros per share in cash.But Drake had rejected this proposal and recommended Monday a rival bid by Prysmian at 17.20 euros, divided in half in cash and securities. A few hours later announced a higher bid Xinmao offering 20.50 euros per share Draka.

A spokesman said the Xinmao minimum value of the offer would be five billion yuan, representing approximately 560 million euros, the value of 48 instant credit report.5% owned by Draka in very discreet fund Flint Beheer, family Fentener van Vlissingen.

While doubts were cast on the feasibility of Xinmao, his consulting firm said on Wednesday that funding had been secured with a major Chinese bank.

According to Joseph Krant, firm Catalyst Advisors based in Amsterdam, the company Xinmao submitted a letter of commitment on the part of a "major banks in China to provide the funds necessary" for the proposed takeover.

The parent of Xinmao was founded in 2000 by a former officer in the Army Air China and employs approximately 30,000 people.

Draka-Prysmian marriage would create a new world leader in the cable. Xinmao for his part confirmed Wednesday its intentions vis-à-vis the Dutch group and ensured that funding had been secured with a major Chinese bank.

(With Reuters)

Budget: the room where one earns the most

This is a report that causes a stir in the entourage of ministers. Published in the Official Journal, the investigation conducted by the member Rene PS Dosière reveals for the first time in detail the levels of remuneration for members of ministerial cabinets, including bonuses. Verdict: better to work with Baroin that Bernard Kouchner. Indeed, the average of the three highest salaries of employees of the budget minister is 15,117 euros per month against 8822 euros a month for those of Minister of Foreign Affairs, penultimate ranking. The average of the three lowest salaries in the entourage of Baroin is 5368 euros per month.

Members of the Cabinet Budget and earn a better living than those in the Prime Minister Francois Fillon in which the average of the three largest wage is 14,086 euros.Advisers Baroin are better off than those of Christine Lagarde (13 948 euros a month for the highest wages). At the bottom of rankings, the Department of Ecology (10,633 euros), Agriculture (10,313 euros), Youth and Solidarity (9462 euros) paled.

"Work does one less than Bercy Foreign Affairs?"

Typically, wages are the most interesting quick guaranteed personal loans at Bercy. Officials of these firms receive an average premium of 30% to 40% higher than other departments. "I want to understand the market remuneration to the Ministries of Finance is higher than Social Affairs. To bring certain employees of private, one has to pay them properly, "says the member Asnière in the columns of the Journal du Dimanche. "But then I think we're beyond convenient," he adds."Work does one half of Foreign Affairs at Bercy? This poses a number of questions and it would be good if our leaders are responding. "

MP passionate figures, which collects reports of the Court of Auditors since 1967, advocating the establishment of wage floor and ceiling in each departmental office. "I would like the future prime minister imposes wage scales."

Last May, Nicolas Sarkozy had urged ministers to restrict their lifestyle, including reducing their staff to 20 and the number of advisers to 4 by Secretary of State.

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Deutsche Bank will raise at least 9.8 billion euros

Deutsche Bank moves ahead of the competition. While regulators meeting in Basel (Switzerland), this Sunday, have tightened their requirements for capital, the first German bank will increase its capital by at least 9.8 billion euros. Objective? Redeem the 70% stake in Deutsche Postbank lacks. In a statement, Deutsche Bank announced it will offer between 24 and 25 euros per share.

The German bank will reduce its dependence on investment banking activity, as recommended by the Basel Committee III. For this, Deutsche Bank plans to issue 308.6 million common shares at a price of 31.8 euros.The stock closed Friday at 47.70 euros, after losing about 5%, after the information from this capital increase was filtered.

The largest capital increase, Deutsche Bank

To consolidate this year Postbank, Deutsche Bank says it will reassess its current shareholding of 29.95%, which will incur a charge of 2.4 billion euros in the third quarter guaranteed personal loan approval. The bank also will conduct a repurchase of 3.1 million shares at the September 13 to September 16.

This capital increase is the largest that ever operated Deutsche Bank, and perhaps the biggest made in Germany since the 11 billion euros from Deutsche Telekom in 1999, according to Thomson Reuters data.

Last Monday, the German bank had revealed that the ten largest German banks, including Deutsche Bank, will raise 105 billion euros to meet the requirements of the new measures of solvency.

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Sanofi-Aventis wants to see the accounts of Genzyme

Sanofi-Aventis will report there on Genzyme's offer? The rumor was picked up again after the U.S. publication DealReporter said Wednesday that the case was seriously considered. According DealReporter, affiliated to the Financial Times, the French pharmaceutical giant would have mentioned a new bid at $ 71 per share.

A spokesman for Sanofi-Aventis joined Thursday morning would not comment on the rumor. But the group said it intends to continue its discussions with Genzyme, "he says, recalling that the laboratory has released a takeover offer for the U.S. company specialized in rare diseases Genzyme August 29 for $ 69 per share. The offer, valuing biotech to $ 18.5 billion (14.5 billion euros), was denied by Genzyme which considers inadequate.

The DealReporter says that raising the price to 71 dollars per share "was circulated during telephone conversations between the two companies last week. In exchange, Sanofi-Aventis would make a "partial due diligence" that would enable him to obtain additional information on the accounts of Genzyme.

Citing sources familiar with the matter, the DealReporter said such a rise is not sufficient to ensure that Sanofi-Aventis access to accounts from Genzyme.

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