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Ways to get paid more than the CAC 40 companies

More companies are large and they carry less of the corporate tax. A fact known and already singled out by the board of tax and the Treasury, but on which a report of the National Assembly published on Wednesday by MP Gilles Carrez sheds new light.

Comparing the amounts paid under the corporate tax (IS) for all companies in France, the general rapporteur of the budget to the National Assembly was able to quantify the difference in tax burden between small businesses and the largest. "The real tax burden borne by small firms is 20 points higher than for large groups," says Gilles Carrez on Wednesday in Les Echos. A "drop that occurs across large groups internationalized," said the rapporteur.

The corporate tax paid by large groups of the CAC 40 is in fact much lower than that paid by SMEs. For four of them, it was even zero between 2007 and 2009, the report quoted by Les Echos. 10 billion euros in total was paid by the CAC 40 companies between 2007 and 2009 for the SI, including tax credits. Is, 86 million per group per year, representing only 0.4% on average of their turnover in France. The four companies which the state is a shareholder (France Telecom, EDF, GDF Suez and Renault) will make an exception, with a gross rate IS 40%.

Enclose tax loopholes

Gilles Carrez explains this differential taxation depending on the size of the company by the existence of tax loopholes that benefit large groups mostly internationalized.This is the deductibility of financial expenses from taxable income or the deferral limit deficits. These groups' benefit, legally, the opportunities available to them: the maximum charge in France expenses related to foreign operations, "expatriate" certain products under activities carried out in France, "said Gilles Carrez.

To avoid a stagnation of revenues SI "to a lower level than pre-crisis", the rapporteur suggests a framework for these tax loopholes enjoyed by the full CAC 40 companies. "Why not cap the financial expenses deductible, as are the Germans? It would be a kind of IS minimum. We could also return certain products, "he recommends.

According to Les Echos, the Elysium is the least prepared, as part of Budget 2012, a time limit on the deferral limit deficits.The regime of worldwide profits, which benefits mainly to Total and Vivendi could also be questioned. A debate that could beat its full part in the presidential election.

All rate changes on 1 July 2011

Here are the planned changes on 1 July 2011.

• Retirement

The law on pension reform, enacted November 10, 2010 after a long parliamentary battle will come into effect on Friday. The legal age will gradually increase from 60 to 62, with four more months per year. The first people affected are those born after 1 July 1951.The age of the full rate – that is to say that from which an employee receives a full pension even though he has not contributed enough quarter (165 quarters forward) – is raised gradually from 65 to 67 between 2016 to 2023.

By persons possessing a degree of permanent disability of at least 20% and, after notice of a multidisciplinary committee, those possessing a degree of permanent disability between 10 and 20% are still able to go to 60 years.

• SMIC

The minimum wage was last adjusted on 1 January will not be automatically upgraded in July. The rise in prices which reached 2% since last revaluation of the minimum wage – could lead to an increase in August the minimum wage indexed to inflation.Prime Minister François Fillon has also been clarified that no additional boost would be granted.

• Unemployment benefits

Unemployment benefits will be revalued by 1.5% from 1 July, decided Thursday Unédic or at a rate lower price developments and the minimum wage increase of 1.6% occurred at the beginning of years. "The debate was very long to the Board of UNEDIC" consisting of representatives of employers and employee organizations, which manage all unemployment insurance, said the president of UNEDIC, Gaby Bonnand at a press conference.

• Transport

– SNCF: the prices of train tickets will increase by an average of 2.5%. This increase will, as every year, uneven tickets. It will range from 10 cents to 2.70 euros by destination.The price discount cards remains unchanged.

– RATP Navigo Pass packages will increase by 2.7%, except for Zone 5. Zone 6 is removed and merged with the 5, which will mechanically decrease by 11% the price paid by its users, reduced from 123 cash advance no fax.60 to 109.90 euros for a monthly fee. In detail: the monthly zone 1 and 2 increased from 60.40 euros to 62 euros (+2.6%). That of zones 1 to 3 passes to 80.30 euros (+2.7%), and that of zones 1 to 4 to 98.10 euros (+2.7%). The single ticket remains unchanged at 1.70 euro.

The bus fare increases to 1.90 euro (+5.5%), while the book of 10 tickets will increase to 12.5 euros (+4.2%).

• Energy

– Electricity: Household bill increases of 2.9%.The industries and large companies take 4.4 to 4.9% according to the rate at which they are submitted.

– Gas: gas rates for individuals do not change, but those businesses increased by 3.2%.

• E

La Poste has announced that the price of postage for mailings of letters under 20 grams would rise by two cents, from 0.58 to 0.60 cents.

• Mobile Phone

The price of mobile communications passed from another European country down. It will now cost 42 cents per minute against 47 before. Subscribers operators in metropolitan departments and overseas subscribers Dom operators in mainland France also benefit from lower rates.

• Environment

A thousand everyday products will be subject to an experimental display decided at the Grenelle Environment Forum.Packaging will be accompanied by a statement indicating their carbon footprint and their impact on biodiversity, water, etc..

• Bank

A summary of bank charges (basket of services, payment systems, operational occurrences, agios) will now be on the monthly bank statements, which also display the ceiling of the overdraft.

• Pets

The electronic chip designed to identify the pet becomes mandatory for all animals that will travel outside French territory.

(With agencies)

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Air traffic disrupted in Northern Europe

Thousands of passengers were stranded on Tuesday morning in Scotland as a result of the eruption of Icelandic Grímsvötn, which continued Monday spit a heavy cloud of ash and begins to disrupt air traffic in northern Europe. Eurocontrol, the European organization for aviation security, announced that 252 flights were canceled Tuesday.

Indeed, while Europe's airspace remains open, some companies have already taken action. British Airways has decided, "a precaution" to ensure no link between London and Scotland until Tuesday 14h (local time). For its part, the Dutch company KLM canceled sixteen flights between Amsterdam and the northern United Kingdom and Air Lingus and Easyjet have suspended their relations towards Scotland and northern England. In contrast, the British government has ruled out a total closure of its airspace.The Irish Aviation has also ensured that "all airports remain open," although "some flights could be affected by restrictions imposed by other European service providers."

The Scandinavian countries are also affected. The cloud reached Tuesday western Norway and Denmark. However, according to the Norwegian operator of airports, the impact on air traffic remains "very limited" for now. Ashes should be extending south of the country by the end of the day. In Denmark, the airspace was closed below 6000 meters on north-west. Delays and cancellations were reported at the airport in Copenhagen.

'No threat' for France by Thursday

"The cloud should reach the end of the day on southern Scandinavia, Denmark and parts of northern Germany," Eurocontrol said Tuesday.It could then move to France and northern Spain in midweek, "if volcanic emissions continue unabated," says Eurocontrol. Information figaro.fr confirmed Monday by the French Pascal Scavina forecaster. Monday night, the Secretary of State for Transport has, however, wanted Thierry Mariani reassuring. "For the next 48 hours, there is no threat, no risk.From Thursday, all depend on the nature of the eruption, "he said on France 2.

After the eruption of Eyjafjöll a year ago, the scenario of complete paralysis of European airspace could it be repeated? According to Thierry Mariani, "it will not take any risks but we can certainly go through some clouds of ash without any damage to the engines and therefore without any risk."

On Monday, the force of the eruption of Grímsvötn was still considered "important" by the Icelandic Meteorological Services. If the main airport in Iceland, the Reykjavik-Keflavik, reopened Monday night, civil aviation was unable to say whether he would remain operational on Tuesday.

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Unilever and Kraft share customer data

What common laundry between Skip, LU biscuits, liquid dishwashing Mir and Amora mustard? All these products are now part of the loyalty program "My Life in Colour", which just launched all the French subsidiaries of Unilever, the Anglo-Dutch behemoth of consumer products, and Kraft Foods, the giant of agribusiness.

By bringing together more than 60 brands in food, hygiene and beauty care of the house, the two companies will be able to reach 6 million French households. The issue is crucial for the industry. First, build powerful databases to improve knowledge of their end customers and do well against those distributors who have millions of contacts.On the other, consumers have with a direct and regular contact by mail and Internet-based information and discount coupons.

Loyalty programs launched in the 1990s lost momentum. Two years ago, Unilever took stock of its "To tell you the truth," launched in 1997 around thirty marks. The finding was unequivocal: it is increasingly difficult to emerge from the multitude of programs created by marks or competing groups as "Want more" Procter & Gamble, "Croquons life" Nestle or "Danone and you. " The attractiveness of "To tell you the truth," launched on the basis of a consumer magazine and enriched with a website in 2001, languished."Traffic growth was not enough, it lacked power," says Anne-Gabrielle Dangu, media and CRM Director of Unilever France.

In late 2009, the food group made the radical choice to sell his program to Publicis Groupe, responsible for finding other brands to strengthen it. However, Kraft Foods, which launched the program "suggestion box" for its LU biscuits bought from Danone in 2007, was seeking to launch a multi-brand. Publicis suggested the two groups together to create a common agenda. The pooling of their databases should reduce their costs while gaining attractiveness.

Nestle and Procter & Gamble align their data

The merger of Unilever and Kraft in the field of relationship marketing is a trend that is expected.Nestle and Procter & Gamble have already pooled their databases to send their respective print magazines in 3 million households. Each maintains its program for now, but both groups should soon announce a strengthening of their cooperation.

Will they go up to launch a single program? "You have to purchase a plate large enough to sustain a multi-program," said Viola Degas, CEO of OgilvyOne. The only approach to food no longer seems sufficient to capture the attention of consumers, already watered copiously on the Internet for revenue and cooking tips offered by sites like Marmiton.

Cardin would be well bought by a Chinese

Cardin seeks buyer, preferably Chinese. At age 88, the developer who owns 100% stake in his fashion house, said two weeks ago that he wanted to sell its entire brand. This weekend, in addition to the presentation of the new collection in China, Pierre Cardin has expressed its preference for a buyer's country.

"I had offers from buyers in the U.S. or England but I preferred because the Chinese are owners of my brand. That seems more polite to me, "he said, after The Tribune published on Monday. Courteous, but also strategic for the brand a strong presence in the country. Cardin, indeed, among the first French brands to move into the Middle Kingdom from the late 1970s. Today, the teacher has over a thousand shops.If the house, which is not publicly traded, is discreet about its turnover in the second world economy, she argues, however, expect a 20% annual growth in sales.

"If they can not afford, they do not buy"

The creator, star in China, announced it has already received offers of Chinese buyers, but declined to reveal their identity. According to La Tribune, which quoted the representative of the brand in China, candidates have tried to negotiate the purchase price of one billion euros in vain so far. For his part, Pierre Cardin was firm: "If they can not afford, they are not buying. They did not discuss. That's clear. "

In 2009, Cardin had sold 32 licenses in China textile and accessories companies Jiangsheng Cardanro and Trading Company, amounting to 200 million euros.

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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.

The French nuclear industry met Monday at the Elysee

It is not on any official agenda, but a meeting to organize the French nuclear industry will go ahead on Monday at the Elysee. The Minister of Industry, Eric Besson, has indeed confirmed this morning on France 2 reports in the press, announcing today that Nicolas Sarkozy would chair the Council of nuclear policy, which he founded in 2008. "The only thing I can tell you is (this meeting) concerns the organization of the French nuclear industry, what has been called France's nuclear team," said Eric Besson on France 2.

According to La Tribune, a preparatory meeting was already held last Friday, bringing together around one table Lauvergeon, CEO of Areva, Henri Proglio, head of EDF, Gerard Mestrallet, head of GDF Suez Patrick Kron, CEO of Alstom, and Eric Besson Dipuo Elizabeth Peters, Minister of Energy of South Africa.The President of South Africa, Jacob Zuma will indeed soon be visiting Paris to talk about nuclear. The challenge for France is to develop a coherent strategy to deal foreign clients especially not to not repeat the failure of Abu Dhabi in December 2009 when the French had lost a huge contract for nuclear centarles, at least 20 billion deal to Koreans.

The TTY in focus

On Monday, participants should discuss in particular the strategic partnership between EDF and Areva. The decision to bring the two French energy giants was taken at the last council of nuclear policy in late July 2010.According to unidentified sources quoted by La Tribune, the two companies involved do not share the same vision of the progress of the project: Areva, it says that "the agreement is ready in its broad lines" then for EDF, "there are still points of disagreement."

According to Les Echos, the discussion should revolve around one central question: "whether the combination of EDF reactor project at medium power, TDD, developed by Areva and its partner Mitsubishi Heavy Industries. Capacity reaches 1100 megawatts Atmea, against 1600 for the EPR.EDF could decide to take part in the cooperation on the TDD, or work on its own medium-power reactor with its Chinese partner CGNPC, or both at once.

Both companies should also discuss their mining strategy, including a possible investment from EDF in the mining division of Areva, whose valuation problem. As for GDF Suez, which wants to grow in importance in the French nuclear industry, the group should also focus on getting its game in the middle of negotiations.

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Bank stocks support the CAC40

ACC 40poursuit its momentum, driven by corporate earnings considered in good order. At the close, the index in Paris gained 1% to 4151,26,14 points in trade volume expanded (4.59 billion euros treaties). Elsewhere in Europe, optimism was also practiced. The Footsie-100 from the London Stock Exchange ended on a rise of 0.80% to 6085.27 points and the Dax in Frankfurt Stock Exchange has eaten 0.19% to 7414.30 points.

On the macroeconomic front, the news was mostly American with the publication of figures on many indicators for the month of January. Rather mixed, but they can not reverse the upward trend observed since the opening.In January, housing starts in the U.S. rebounded more than expected, 14.6%, while building permits fell more than expected, 10.4%.

Higher-than-expected also for producer prices in January, they (seasonally adjusted) advanced 0.8% over the month, against 0.7% expected by analysts.

Finally, industrial production fell 0.1% in January, penalized by the return of harsher winter temperatures. An unexpected drop in the consensus building on a 0.5%.This is the first decline since June 2009.

On the foreign exchange market, the euro gained ground Wednesday against the dollar bending under the weight of disappointing U.S. figures published yesterday, but the single currency remains under pressure as concerns about the fiscal health of the fragile zone Euro persistent.Vers 18:00 to Paris, the euro bought 1.3581 dollars against 1.3488 dollars on Tuesday at 23:00.

Societe Generale its dividend multiplied by seven

On the podium of the largest increases in the CAC 40, are banking stocks, buoyed by the good results of Societe Generale. It wins 4.86%, to 51.24 euros. Credit Agricole took 4.76%, to 12.21 euros and Natixis jumped from 3.56% to 4.16 dollars. Sanofi-Aventis follows (3.51% at 51.55 euros), supported by the announcement last night of an agreement with U.S. biotech Genzyme.

In contrast, PPR, which reports tomorrow, shows the largest decrease (-2.07% to 113.40 euros) in its wake LVMH (-0.97% to 116.90 euros).

Societe Generale: + 4.86% to 51.24 euros

Meanwhile, good news comes from the results published by companies, including Societe Generale. After publishing the results in line with market expectations, the banking group has increased its dividend in September by Societe Generale in its wake Credit Agricole (4.76% to 12.21 euros), BNP Paribas (+2, 93% to 58.97 euros) which must publish its results tomorrow, Thursday before the opening of the Bouurse.

Banks also benefit from a buoyant economic environment and the easing of tensions on sovereign debt, while the Eurozone is currently developing measures to help the troubled country.

Sanofi-Aventis: + 3.51% at 51.55 euros

Another announcement that should be reacted in financial markets, even if she was waiting for: the acquisition by Sanofi-Aventis U.S. biotech Genzyme. The two groups have reached an agreement in principle after the French laboratory which will provide $ 20.1 billion plus a certificate of conditional value.

Renault: 0.34% to 45.82 euros, Peugeot: -0.65% to 29.83 euros

For the EU, new car registrations fell 1.4% in January to 1,041,650 vehicles, announced Wednesday the Association of European Automobile Manufacturers (ACEA).Renault sales fell by 5.2% and Peugeot, 3.4%.

A new salvo of results

Atos Origin: + 0.02% to 41.36 euros

Atos Origin has more than tripled its net profit in 2010 to 116 million euros, indicating that they had "achieved its objectives."The group is confident for 2011.

Imerys: -0.23% to 51.52 euros

Imerys will rely on the growth of demand in its markets, particularly in emerging countries and in the paper and steel, to take over the restocking that has supported its findings in 2010, told Reuters its general manager.

Euler Hermes: -2.67% to 73.00 euros

Euler Hermes announced Tuesday a strong rebound in its annual results, driven by a drop in claims, and the resumption of a dividend to its shareholders.

ADP + 0.85% to 65.06 euros

ADP reported a January traffic up 5.5% from 2010.

Bic: -2,16,06% to 62.93 euros

The group of stationery and disposable Bic has made a net profit up 36.7% to 207.5 million euros in 2010, thanks to gains in market share and reported a very good start 2011.

Orpea: + 0.25% to 34.68 euros

Orpea reported Wednesday in a double-digit growth of its business in 2010, supported by organic growth of 8.7% and its external development. Group homes was confident for 2011.

After market, it was the turn of Bricorama (turnover in the fourth quarter) and Icade (results in the fourth quarter) to submit their figures. Is also awaited the outcome of the meeting of the Monetary Policy Committee of the U.S. central bank, held tonight at 20:30.

The champions South rival those of North

Click on the thumbnail to enlarge the graphic.

Huawei is the Chinese telecommunications industry who files the most patents in the world. Indian conglomerate Tata has done for $ 17 billion of acquisitions over the past decade. Brazil's Votorantim has become the number one global paper and entered the top five global zinc and in the top ten cement … Despite crisis, firms in emerging markets continue to climb.

According to the consulting firm that publishes BCG Tuesday its new survey on "New Global Challengers", the hundred champions from sixteen countries show strong growth in much better performance than those of European and American groups. They achieved a total turnover of 1300 billion in 2009, an average of 13 billion company.The Chinese continue to carve the lion's share with 32 companies. They play leading roles in construction, civil engineering, energy, telecommunications. The first three groups in the world are Chinese construction industry. The Indians come in second place with 20 companies. Brazilians in third place with 13 companies. Russia also ranks in fifth place with 6 firms behind Mexico, which has seven

The 'cat' in Africa

"Groups in Africa, South America and Asia, we baptize cats, needed among the hundred" global challengers. " Their rise will continue as the population and wealth of their countries are equivalent to those of Brazil, India and Russia combined.They represent 20% of world population and 16% of global wealth, "says Olivier Scalabre, associate director in charge of globalization in the Paris office of BCG.

The five best performing giants are able to compete with the more powerful Western multinationals. Vale of Brazil, Indonesian Wilmar International, the Mexican Cemex, the South African SABMiller and Anglo American are present worldwide no fax payday loans. They perform internationally 75% of their turnover has reached at least $ 20 billion. They are present in the top five worldwide in their business.

The new champions of the South will continue their conquest of the planet. Chinese home appliance manufacturer Haier has established research centers in Europe. The Mexican Grupo Bimbo has bought American brands of Weston Foods and Sara Lee.But their priority is the new middle classes in developing countries. "The emerging market companies prefer to make major efforts on growth markets rather than dealing with European and American markets that are growing soft. The European and American companies will also want to be very active in these new markets, "Oliver Scalabre analysis. Everyone should make great efforts to adapt to the needs of hundreds of millions of men and women. "The battle will be tough to conquer this new class of consumers who represent 30% in ten years of world population and the first contract to the U.S.," says Olivier Scalabre.

More efficient than the Europeans

The 100 champions have achieved an annual growth of 18% between 2000 and 2009.It is three times higher than their European and American counterparts. "Their rate of return over the same period is also 18%. 60% better than the groups of developed countries, "Olivier Scalabre analysis. They performed in 2010 57 mergers and acquisitions for approximately $ 37 billion. "They pay dividends to their shareholders while investing heavily in the future. Volumes and margins, growth and low debt levels, investment and dividends: they manage to reconcile opposites. What the American and European groups have a hard time, "says Olivier Scalabre.

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)