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It should be added Kevin Systrom and Mike Krieger to the list of millionaires under 30 years in Silicon Valley. Instagram, a company they founded in 2010, employs a dozen people. It does not make a profit. Its turnover is unknown. It is "worth" $ 1 billion, however. In any case the price paid by Facebook Monday to acquire the entity behind one of the most popular applications for smartphone users: Instagram can take pictures with his cell phone, color them and modify them to change the "look", and share them instantly with friends. A week ago, Sequoia Capital, a prestigious venture capital firm in Menlo Park (California), had invested $ 50 million in Instagram and valued the company at 500 million.

"Kevin Systrom and Mike Krieger never doubted that they ran a company that would be billions," said Chris Sacca, an early investor in Instagram, also known for throwing Twitter. Kevin Systrom was released in 2006 from Stanford University, nursery designer of high-tech companies. With his double degree in engineering and management, he went at first to do an internship in a startup called Odeo. This company specializes in podcasting was moderated by the team which was subsequently launch Twitter. The native of Boston has always been passionate about photography. He always wanted to make sending pictures via email. He eventually joining Google, where for two years, he worked on the development of new products like Gmail and Google Reader. At night and during the weekends, Kevin Systrom develops its own project guaranteed personal loan approval. Burbn baptized (because he likes bourbon), it is a social network for the exchange of photos and comments.

IPhone and Android

It is through this network that meets Kevin Systrom Mike Krieger, graduated from Stanford in 2008, he had never before attended. In early 2010, they team up and launch Instagram, a simplified version of Burbn. Of Brazilian origin and even younger than Kevin Systrom, Mike Krieger is described as a brilliant mind. "It is more technical than Kevin Systrom," said Rob Abbott, a former adviser to both partners.

Corporate venture capital Andreessen Horowitz and Baseline Ventures initially gave them $ 500,000 to develop their product. Seven months later, the "app" was available. 200,000 people have installed on their iPhone the first week. Last December, 15 million iPhone users played with Instagram.

Today there are over 30 million. And the number will continue to explode because the application is also available for several days on phones using the Android platform. By noon, a million people have already installed the program. This hearing is considered promising according to the model of social networks which first want to seduce millions of subscribers before then to develop a revenue stream based on the advertisements they may present to their users. Facebook wanted to buy this application to better integrate its supply and enhance exchanges between subscribers.

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The company's ready-to-wear founded in 1973, purchased by Edmond Cohen in 1990, and renamed to Fursac, is hosting a new shareholder. The Building Fund and Business Development (EDCF), funded by the ISPs, major banks and insurers French, takes 28% stake by bringing Fursac of 11 million euros. Five million are on loan from LCL and OSEO.

Objective: To help the company with 100 employees, attached to a European clothing and fabrics 100% Italian, find a new impetus. The company, which has nine stores in France, wants to open 25 within five years, in Hexagon, but also in Brussels, Luxembourg, Geneva and London. She hopes to double its turnover, which reached 23 million euros last year, up 20% compared to 2010.

Of Fursac, which had its heyday in the 1980s comeback. In 2006, the company was placed under administration, having invested heavily to rejuvenate its image and move upmarket. She then lost in the Galeries Lafayette locations of province, and its sales had fallen below 15 million euros. A dark period forgotten.

"This long-term strategy has been slow to develop, but has proven successful," said Benoit Sellam, the EDCF. Worn by Harry Roselmack, Tony Parker, Thierry Henry and Gad Elmaleh, costumes Fursac, sold 600 euros on average, younger. They represent 60% of sales, accessories and casual wear have grown. Above all, the company returned to profitability and has virtually no debt.

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Employees searching for meaning at work? Corporate foundations may well be a response to this need. These structures serve the general interest in working relationship with associations, involve more and more widely in staff actions.

This is certainly one of the conclusions of the first barometer of corporate foundations, led by "IMS-take to the City" (*), ring exchange chaired by Claude Bebear, accompanying 230 companies to date in their "social commitment".

Eight out of ten foundations to offer and company employees to get involved. "We support only for projects likely to involve employees," said Severine Coutet, secretary general of the Fondation HSBC created in 2008 around the educational and environmental themes. "This involvement strengthens the sense of belonging to the company," she says. Ultimately 30% of the employees involved, which is huge.

The study also reveals that this patronage focuses on the causes that are related to the company's business (52% say this), with behind the idea, attractive to employees, the company and Foundation share similar values.

Review the social contract

Created two years ago, the fledgling foundation Monoprix, has directly asked his staff to define its field of action. Three were identified: the integration of young people, improving mobility and accessibility of elderly and disabled, the fight against isolation. "Things related to the mission that Monoprix is ​​to provide basic necessities and be a social city," says Catherine Ranieri, general delegate of the foundation, which speaks of "significant internal tool federation " pay day advance. It turns out that these problems are not unlike that of some of its employees, 80% are at the minimum wage

.

Upon the establishment of the foundation Monoprix, the works council has also questioned the direction of the actions put in place for its own employees … The answer was quick to come with the announced creation of a social fund for employees. Foundations and would require companies to review their own social contract

.

What about the causes supported by the foundation? The barometer reveals top education (59%), advocacy (58%), and employability (52%). Young people are the target audience (52%). And despite the crisis, companies are investing as much explains IMS: third has a budget of over 1 million euros.

Since the creation of foundation status of companies in 1990, 450 structures have emerged, the 2003 Act, concerning patronage (with 60% rate of tax deductions) having accelerated the movement.

(*) Quantitative study conducted in fall 2011 conducted among 68 foundations, supplemented by a qualitative study of 12 foundation leaders.

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Experts have not yet returned their verdict about the seriousness of the situation on the gas platform of Total in the North Sea. But analysts have already whipped out their calculators and trying to measure the cost of the incident for Total and stakeholders. The range of estimates is very wide: it extends to the French oil group, 150 million dollars (113 million) to $ 10 billion (7.5 billion euros) in case of explosion of the platform.

In all cases, it appears that the bill implied $ 16 billion (12 billion euros), deduced from the fall of Total shares on the stock market, is largely overestimated, says Societe Generale. "A loss of over $ 7 billion (5.3 billion euros) for Total (which holds 46.2% of the platform) seems particularly severe," wrote analyst Societe Generale. The impact on production will remain relatively moderate and the final cost in a worst case scenario hardly exceed the amount implied by the Exchange.

150 to 200,000,000 dollars

To try to guess what the final bill of the incident, calculate how much is the cessation of production from the platform evacuated Sunday at midday. According to CM-CIC Securities, the daily loss would rise between 10 and 15 million. "For Total, one can estimate a minimum cost of 150 to 200 million dollars in the best case (limited to two weeks off) or even more if the situation were to persist for several months' advance CM-CIC Securities. The shutdown could last from six months to a year, according to various analysts. An official of Total recognized that blockage could last up to six months.

$ 10 billion in case of explosion

The bill also depends on the solution proposed to solve the crisis. Exane BNP Paribas, estimated that operators of the platform may have to dig two relief wells, each costing about $ 44 million (33 million) direct payday lenders. Remains a possible explosion on the platform would jump costs for operators. The bill could reach 7.5 billion according to analysts at BofA Merrill Lynch. This amount includes the loss of deposits and the platform (about 2.8 billion euros) and nearly $ 1.5 billion to clean up environmental damage, but excludes any fines.

Analysts agree on one point: this incident, which involves gas and not oil, will not scale environmental or financial cost of the oil spill in the Gulf of Mexico in April 2010. The operator of the platform involved in this disaster, the oil BP, had to set aside $ 37.2 billion (24 billion euros).

Between 100 and 200 million pounds less for Crown

Stopping exploitation of the Elgin platform in the North Sea could also have an impact on … tax revenues of His Majestys. "If the site remains closed door for six months, this could result in a revenue loss of between 100 and 200 million pounds (119 and 238.4 million euros)," David has calculated Tinsley, an economist at BNP Paribas . This amount, compared to 43 billion pounds collected by the British state in 2011, does not include any costs of cleanup. The invoice is not limited to the tax shortfall. British production, already amorphous, could also be slowed, says the analyst, who concluded that the country's growth could even be reduced by 0.05% in the second quarter.

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As part of the Post found hanged at his place of work on Sunday in Finistere, Brittany, had documented his act. In a dossier of account, minutes of meetings, videos and audio recordings, man details his charges against the company. This is the second suicide in the Breton Post in ten days.

In the documents left behind, under forty, married with two children, due in particular that it "considers the hierarchy of the Post (all levels) to cause (s) has lost their bearings." "For over three years, I feel an eagerness, a desire hierarchical cornered me," says the executive who had been off long illness since November.

"Let me go"

"Let me go, it's my choice," he says in a document circulated by SUD. In a note called "My Requests", in which he says refuse any resuscitation, be prepared to donate organs and calls for burial "in family privacy" without "any representative of the corporate hierarchy, or other message the same hierarchy. "

In another note called "Appendix", he asked whether a pension for his family is' likely ',' getting that (s) are desperate gesture is reclassified as industrial accident. "

Among the documents, is also an email to the CEO of the Post and Jean-Paul Bailly dated March 11, the day of his death but not sent. In this mail, whose purpose is "SOS", the framework itself "back to the wall." He considers that his "career is over at the Post," saying fear, "in the best case," a shelved. "That's twice in less than six months that I prepare my suicide," he wrote.

"Everything was prepared"

Patrick Campion, SOUTH delegate in Finistère, said in the email sent on the day of his death to trade unions, he said it had "left other documents home" to the CGC, CFDT, CGT and SUD. He said he had recovered these documents Tuesday.

"We were given a shirt, a pocket where everything was prepared. In these documents included a series of letters, minutes of the account of interviews and two CDs, one with videos and one with lots of other documents, including audio recordings of conversations he had with his superiors "said Patrick Campion. For Blanchot Regis (SUD), these documents, in which part "explains how the Post has destroyed" prove the link between drama and work. The unions will ask the qualification of this accident as suicide.

A HSC held Wednesday at Vannes has voted to recognize this act as "accident service" and the cessation of ongoing or planned reorganizations, said the unions and management. In a statement after the meeting that lasted all morning, the unions also state that the HSC is to "use a certified expert on the effects of reorganization and managerial pressures."

Finally, unions and management announce "stop all ongoing reorganization and future direction of the e-Western Brittany (Morbihan and Finistère) until the publication of the findings" of the various surveys and assessments.

After Jeremy Bouan, chief executive of 28 years, has defenestrated in Rennes on 29 February, an investigation was initiated by the committee on health, safety and working conditions (HSC) La Poste de Rennes. Two others are being conducted by police and labor inspection.

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This is the flagship of Nicolas Sarkozy proposal for education: pay 500 euros a month more teachers willing to work 26 hours per week instead of 18 hours. The president-nominee wants to fund the measure, in colleges and high schools, by 208 million of savings related to the pursuit of non-replacement of retiring in two in the public service.

To balance the accounts as well, should not more than 58,000 teachers choose to work 26 hours, calculated the Institute of the company, under Debate & Co. 58,000 teachers is 13% of … Still, the UMP did not specify whether all or only new teachers may opt for these 26 hours.

The Institute also evaluated the gross cost of the measure, before taking account of "one in two," using assumptions Directed Study (2 or 4 hours per class per week) and replacement overtime. The cost ranges from 148 to 295 million per year. In the primary, the institute estimates that, by their status, teachers will supervise the study hours without being paid more.

Institutional autonomy would cost it 330 million if a new package of € 30,000 was granted to institutions, or nothing if the budgets were redeployed. Finally, the institute says he can not quantify the cost of the provision of an office for each teacher.

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After Guadeloupe and Mayotte, it is the turn of the meeting to fight against high prices. If measures to lower gasoline prices and basic commodities were announced, anger persists. According to figures from INSEE, in 2010, prices were more expensive by 12.4% in Réunion in the mainland. A difference that amounts to 14 saving account payday loan.8% in Guadeloupe, and 16.9% for Martinique. In Guyana, where the price differential is highest, this amounts to paying twice the tax: a basket of goods (including rent) money is 19.6% higher than in metropolitan France.

Investigation of spatial comparison, INSEE.

Wolfgang Schäuble has opened the way for the adoption, on Monday, a second plan with the European Union and the International Monetary Fund, amounting to 130 billion euros. But it is not private to lecture on the Greek government, while ensuring the Greek people of his compassion for the conservation measures that strike.

According to the Süddeutsche Zeitung, the idea of ​​establishing an escrow account for the interest payments on Greek debt, which was the German Government, should be held tonight in Brussels by the finance ministers of the euro area. Unlike that of a commissioner to oversee the implementation of rigor, to which Germany has given up against the outcry. However, in an internal report, the German Ministry of Economy casts a very negative effect on the progress of reforms in Greece and openly doubt it will be able to avoid bankruptcy. This will certainly complicate the ratification of the new aid plan by the Bundestag, scheduled for February 27.

Critical or pessimistic statements of German officials on the situation of the country have moved the Greeks and sharpened their sense of being imposed a European tutelage. Greek President Karolos Papoulias has himself condemned what he thought of "teasing" the German finance minister's struggle to stay in Athens for the euro area no fax payday loans.

"In front of aid, there is always someone who wants to get help, found Wolfgang Schäuble. We remain available for some time to help the Ministry of Finance officials to build a Greek tax system efficient. So far the offer has not been entered. "

"Compassion"

The German minister, who had been strongly criticized in Athens after claiming he had "serious doubts" about the validity of elections in April in Greece, he assured "sympathize" with the Greeks. "The vast majority of those affected by the reforms and austerity measures – and let me express once more my great respect for them – are nothing to do with the slow pace of reforms, the loss of competitiveness or inefficient use of budgets in the past, "he says.

And remember that the Greek minimum wage will be at the future "at about the same level as in Spain."

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Household consumption, the traditional driver of French growth, declined in September. It fell 0.5% last month, according to figures from INSEE published on Friday, after rising 0.2% in August. Despite this poor performance, the third quarter remains positive consumption rose 0.2% after a particularly bleak picture of the second quarter this indicator fell by 1.9%.

In September, it is the purchase of textile-leather and energy costs which have lowered consumption. These expenditures have dropped respectively by 4.7% and 4% last month, a much greater decline than in previous months. For the textile sector, the wrong number "announcement of hard times," Judge Camille Williencourt, an economist at Natixis. It points out that consumption fell by 17% in this sector since the second quarter of 2007.A sign that the industry "is recovering gradually, after a very poor second quarter impacted by the decision of the cash for clunkers," said Camille Williencourt payday loans for bad credit.

INSEE had Tuesday reported an unexpected improvement of consumer confidence in October. Indeed, they are much less likely to anticipate a rise in unemployment – although the statistics published this week have reported a record high – and are optimistic that this summer on their future standard of living. Other anticipation apparently bodes well for the consumption of the end of the year, they were also more likely to feel the need to make major purchases. But despite these positive developments, "consumer sentiment remains generally depressed, said Helene Baudchon, economist at BNP Paribas, well below its long-term average of 100."

Very touched by the toxic loans, these loans whose interest rates can soar, the Socialist Mayor of Saint-Etienne, Maurice Vincent, claimed that the government take responsibility. "The Ministries of Economy and Interior are asking us to manage ourselves the question with the banks negotiating with them. But this can not be a solution! "Storm elected.

St. Stephen was able to renegotiate certain loans: from toxics declined from 70% to 34% of its debt. But not all. Because in some cases, banks are asking the community to pay a cash adjustment to transform the high-risk loans in a normal loan. The principle of the balance is logical: the bank must be "compensated" as she would have received in interest rates high – up to 24% in Saint-Etienne with toxic loans.But its amount, which varies according to market conditions, may be prohibitive. "For a loan of 20 million, Deutsche Bank in early 2010 we asked a cash payment of fifteen million. It had no advantage for us, "said Maurice Vincent. Which concludes that most communities are in this case. The Court of Auditors number between 7 and 12 billion the amount of toxic debt, total debt of a community of 160 billion. The mayor of Saint-Etienne believes that the cash payment to pay to get out is now about ten billion euros, given the market conditions. Or communities can not afford to pay such a sum to get rid of loans at risk.Or more precisely, they could afford at the cost of tax increases – from 15% to 20% in Saint-Etienne after its mayor – and lower public spending.

"That's why I want the government set up a bad bank," concludes Maurice Vincent. This structure would take over the toxic loans communities, which would then be freed of the problem. This would be the banks that finance the bulk structure défaisande. And so that would take the loss. So far the government has been opposed to this idea. And the Court of Auditors as well.

Communities have, however, a weapon used today: the trial. Saint-Etienne sued the Deutsche Bank and RBS (Royal Bank of Scotland), including failure to board. The first verdict next year.And in the meantime, the payment of interest is suspended.

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