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"Te koop," panels "for sale" are hung at the windows of apartments in Rotterdam as those of great houses in Het Gooi, privileged region of local stars. "On average, a rest house for sale 159 days, 80 days against five years ago: the number of properties for sale has doubled, while prices continue to fall," said Roeland Kimman, spokesman for the NVM.

The first quarter of 2012 was the worst since 2008. The number of transactions fell by 15.6% over the last quarter of 2011. During the same period, the average price of a property fell 2.8%. In April, the fall was even 4.7% over one month. "Buyers are desperately short of confidence," says Eduard Vaandrager, agent in Keizerskroon Makelaars in Amsterdam.

Lower prices undermines consumer confidence, which weighs on consumption. The government attempted to revive the market by lowering the tax on property sales from 6% to 2%. In vain. "To stabilize the market, we should reform the estate tax credit," said Peter Boelhouwer, housing expert at the University of Delft. Arrested in France, Great Britain, Sweden and Norway this grant does not exist in Germany. "In the Netherlands, this has driven prices in the 1990s and early 2000. This is an expensive item – € 9 billion per year – but nobody dares to touch it, because 58% of Dutch owners are, "says the specialist.

Risk loans

Apparently favorable first-time buyers, this grant supports the richest: "Consider a person who borrows at 5% for a house of 600,000 euros. If it is in the tax bracket higher, it may deduct 52% of his monthly payments of taxes and pay only 15,000 euros per year, "says Eduard Vaandrager.

Despite the crisis, the government decided to maintain the subsidy, so as not to accelerate the fall in prices. But it now requires borrowers to repay their loan in 30 years maximum. This concludes a series of mortgages, that only allow full reimbursement of the loan and the sale of the property.

Comfortable in times of rising prices, borrowing against the value of the property become very dangerous when prices fall. "If the owner can not sell his property at the agreed price with the bank, he finds himself with a very large debt," says Ivo Arnold, a professor at the Erasmus School of Economics. As a result, owners waive sale. "Thank goodness that there has been no speculation, as in Spain!" Says Peter Boelhouwer.

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The ras-le-bol rises among users of TGV Nantes / Angers / Le Mans / Paris. And also the response … The members of the collective defense of Subscribers Line Atlantic (Ladala) took a new step in their protest movement against the repeated delays of the station, on the line leading to the capital. The trick to reach the railway portfolio. To do this, they have not hesitated to launch a "ghost TGV" massively by booking every seat of a TGV line in question. Of seats they will not play of course. Each member buying between 5 and 10 seats, 800 seats have already been blocked, all classes, as pointed out this morning on RTL Pascal Mignot, the representative of the collective.

Reaction except the SNCF, the train should travel empty, which would result in a serious shortfall. Because the protesters are concerned subscribers, a status that gives them access to places for a mere $ 1.50. And the date chosen is not trivial since the 250 members of Ladala have set Wednesday, May 16, the eve of Ascension Day and the weekend so great starts.

Greece of tickets

This is not the first time Ladala tries to voice his displeasure. Mid-March, the group had launched a strike of tickets and passes, along with daily rallies in trains and on platforms. Faced with the continuing delays and lack of financial consequences for the SNCF, the association thus increases the pressure, also taking on its website a statement of the duration of the movement, and delays on this line quick guaranteed personal loans.

Faced with the accumulation of failures since the schedule changes in December 2011, their demands are clear: rate freeze on packages (over 500 euros per month), on-time to avoid disputes with employers, indemnity 2.5 euros per 10 minutes late, and got 150 euro for subscribers to compensate for failures of January, February and March. In total, officials estimate that the collective duration of 14 hours cumulative delays over this period.

Side of the Authority of the quality of service in transport (AQST, dependent on the Ministry of Ecology), although the figures show a surge in failures since November, with up to 30% of trains delayed . But since February, the trend seems to be improving. Apparently not enough to calm those subscribers, still wearing a badge "subscribers on strike," which also launched an online petition and sent a letter to presidential candidates. Denouncing a 18% increase in travel time on an ordinary trip to Le Mans / Paris, they have finally created a Twitter account inviting followers to list all the failures of the Atlantic line. An initiative that has been emulated the Creusot subscribers and Amiens have since joined the movement.

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From our correspondent in Moscow The Russian oligarchs are slightly fewer in 2012 and earn a little less money than last year. But this year is the emergence, in the first place in the ranking of the 200 richest, a virtual unknown in France, Alisher Usmanov, who caused a sensation.

With its $ 18.1 billion of personal wealth (13.7 billion euros), the man closest to the provincial notary that the flamboyant raider jumped five places in the ranking compiled by Forbes newspaper, and dethrones the other metal tycoon Vladimir Lissine, relegated to second place overall (about 12.1 billion euros). The steelmaker Alexei Mordashov (Severstal) completed the podium of the largest fortunes of the country (11.6 billion euros).

For its part, the very Francophile Mikhail Prokhorov, who just getting into politics and was third in the presidential election, going from third to seventh place, losing a year to the next 4.8 billion dollars (10 billion euros of total assets).

World record for the number of billionaires per capita

Best known for his West London home of Beechwod, acquired for $ 96 million, and its 25% stake in Arsenal football club, Alisher Usmanov has become one of the most discreet but also the most influential Russia, where wealth is acquired always at the intersection of business and politics. He has assisted the Deputy Prime Minister Igor Shuvalov, and his wife to make a fortune.

Alisher Usmanov, who spent six years in prison for fraud in his country, now runs the company Metalloinvest. But the businessman has also been careful to diversify its business, particularly in the media and new technologies. In 2009, he has invested nearly a billion dollars in Facebook, took a stake in the site Groupon online sales. Alisher Usmanov has also media group Kommersant.

The Vedomosti reminded Friday that Russia holds the world record number of billionaires per capita (96 143 million), before the United States and Singapore. The journal regrets that contrary to Western mentality, money has become the ultimate horizon of Russian society, including the acquisition to be held by "any means", including "violating the law" .

In 2012, the wealth of the 200 richest Russian, however, declined by $ 52.3 billion, with a total of nearly $ 446 billion (338.6 billion euros).

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"We know what's wrong and we know how we will fix it." Philip Clarke, Tesco's boss for a year, has compiled a table Wednesday uncompromising problems that led the UK's leading retailers' bottom of the escalator. " As at Carrefour, what are the activities of the brand in its home market, the UK, who sin the most. For the first time in twenty years, profits in the country decreased (- 1%), offset by an increase of 18% of profits abroad. More worryingly, sales at comparable areas (excluding new stores) fell 1.6% in the last quarter, yielding market share to competition. "A year which can not be proud," the president lashes.

After thanking the boss of UK operations, Philip Clarke resumed them live. In shirtsleeves and red tie, like the logo of his sign, the native of Liverpool who has spent his entire career at Tesco, where he began putting teen-shelf, announced a plan to invest 1 billion pounds (1.2 billion) to revive the case.

Stores gray and poorly maintained, frequent breaks in radius, fresh products that are not always too high prices, inadequate staffing and unhelpful … Consumers have taken a dislike Tesco, which was regarded as, ten years ago, a model followed for all major retailers.

The most comprehensive, but also the later: it is the strength and weakness of the annual real estate market drawn up by notaries. Unveiled Thursday morning, it strengthens the contours of the market in 2011, as has been described by most professional.

First confirmation: the record number of transactions (837,000 in 2006) was beaten with 858,200 transactions in France (710,000 and 148,200 in the provinces in the Ile-de-France). Extraordinary figures boosted by the PTZ +, low rates and the effect of capital gains those wanting to sell before the tax change.

Regarding prices, the existing apartments has increased on average by 6.5% year on year across the country with peaks at 9% in cities such as Lyon or Bordeaux. Notaries are, however, that the rates showed a slight decline since the fourth quarter.

As for old houses, the increase was 2.1% in France with a more pronounced jump in the Ile-de-France (+5.7%) than in the provinces (1.3%). Again prices are trending down since October 2011 (-1.3% over the quarter).

Notaries cautious for 2012

This assessment also helps wring the neck of a preconceived idea: purchases by foreigners does nothing to explain the rate increase. The proportion of transactions by foreigners is only 5.3% in 2011 and this figure "is stable for several years," reveals the notaries.

However, statistics notary confirms that younger people are increasingly excluded from homeownership. Thus, for existing homes, the share of buyers under 30 years increased from 18.3% in 2010 to 16.6% in 2011. This figure continues to decline since 2008. Only the north and east of France still seem accessible to these age groups. By cons, the transactions made by more than 60 years continue, they move forward. More than ever attracted by the safe haven of real estate, buyers seniors increased from 12.5% ​​in 2010 to 14.5% last year.

About the game predictions for 2012, notaries are more cautious than ever. If they announced without much risk of error that the volume of sales expected to decline in 2012 in the former as in the new, they make no reference to range in price developments. They just remember that the expected trend "would be the best stability of the favorite places in Paris and most dynamic cities." Moreover, the drop should be at an appointment and to continue in 2013 "but in a less clear than that found in the hole estate of 2008/2009."

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For the first time since 1995, the protection of personal data of European citizens is being reformed. This is normal. In seventeen years, the Internet and social networks have radically changed behaviors and risks: identity theft, fraud, misuse of information posted, collecting information without the consent of the internet, etc … January 25, Viviane Reding, Vice President of the European Commission presented its draft European regulation, in a document of 134 pages. The text should come into force in two years in each member country of the Union.

While the CNIL (Commission Nationale Informatique and freedoms) recognizes "substantial progress", particularly by establishing a "right to oblivion" for digital users and creating "a power of sanctions," up until to 2% of worldwide turnover and € 1 million fines on companies, several points are criticized. Reportedly, the CNIL's remarks will be taken over by all supervisory authorities in Europe, gathered in the "Group of 29" European CNIL. Or Friday, no later than Monday, April 2, this group will be concerned about the "bureaucratic risk" introduced by the draft EU regulation. Indeed, a private company may, according to the draft regulations, elect one principal in Europe, and conform to all its European subsidiaries to the rules of this country's data protection. In case of dispute, the issue will be examined by the CNIL's chosen country payday advance. The risk is high that the French CNIL, for example, becomes a single mailbox. And it's "particularly concerned about the risk of estrangement between citizens and their national authorities."

"The notion of principal is criticized, including by U.S. companies. General Electric, for example, does not have the same commitment to a European country as Facebook or Google, "says one expert. In fact, the same day as the release of the draft EU regulation, Google announced it had chosen "as the principal place of Ireland" and announced a new rule for "confidentiality", in force since March 1. But these provisions were strongly criticized by the CNIL, on behalf of all European CNIL, and March 19, a detailed questionnaire was sent to Google.

Meanwhile, cooperation between the supervisory authorities of all member countries of the European Union is considered, failing to create a single European CNIL. CNIL tricolor is already strong in his criticism by the French government and parliament.

In June the European Council of Ministers should review the draft EU regulation, which would be amended in the direction of greater cooperation between the supervisory authorities of each European country.

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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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17 billion euros in investments, 164,000 jobs directly and 97,000 indirectly. Which to house the mammoth project? Madrid against Barcelona: the contenders are the most powerful cities of Spain … and two eternal rivals, in politics as on the football field.

A funny clásico, fanned by a singular trophy: the U.S. company Las Vegas Sands wants to establish in Spain's largest casino complex on the Old Continent. "Eurovegas" must be the European version of the world capital of the game Six casinos, 36,000 hotel rooms, three golf courses, a 15,000-seat auditorium

.

The figures, astronomical, are salivating entrepreneurs and politicians, while the country is mired in negative growth and an unemployment rate near 23%. The real estate engine "miracle" Spanish is down. Regions and municipalities in crisis seek relays create jobs and tax revenue.

In desperation, local politicians are suitable for all investors games. Left to take a project still vague for a real growth driver. Leaves to forget that five years ago, a similar idea had generated the same enthusiasm in Aragon, before developers do not suddenly reverse.

Barcelona or Madrid? Sheldon Adelson, owner of Las Vegas Sands, hesitates. After a year of study and 7.6 million euros spent, however, the decision must fall rapidly before the summer, the billionaire promises.

Rebates and exemptions

His communications director, Ron Reese, said the two cities "are tied." The project, said Reese, who will go to that show the more "flexible". The list of requirements is long Adelson as a letter to Santa. His company is seeking exemptions from social contributions and tax rebates. She wants the standards against money laundering to be relaxed to facilitate, she said, remittances players. Besides other applications wackiest, like creating a MBA in the gaming industry, or the lifting of the ban on smoking in rooms.

These requirements seem exorbitant to upset any politician. In Barcelona, ​​we recall that the project needs to attract 11 million visitors. "Quality tourism" believes the President of Catalonia, Artur Mas.

In Madrid, the figure of 260,000 jobs dizzy: it represents half the number of unemployed in the region. The president of the autonomous government, Esperanza Aguirre, has promised to make "all necessary legal modifications, as they do not violate [its] principles."

Demonstration in Madrid

Thousands of people rallied Sunday in the streets of Madrid to the appeal of unions, against labor reform implemented by the government the right to fight against unemployment, the mobilization test before a general strike scheduled for March 29.

The two main Spanish unions, UGT and CCOO, have called for demonstrations in 60 cities in Spain, to protest a reform they deem "unfair and ineffective" and "defense of public services".

Carrying red flags and placards with the words "no budget cuts", "No to social regression", shouting "we will not pay their debts with health and education", thousands of protesters stormed the center Madrid. 

The Conservative government of Mariano Rajoy adopted on February 11 for further reform of labor market flexibility, including lower redundancy payments and measures to stimulate youth employment.

The European Union will not allow itself to do. In the aftermath of retaliation by China against the European carbon tax, which came into force on 1 January, the Danish Minister of Climate, Lidegaard Martin, said Friday that Brussels does not intend to reconsider the measure. "The EU will continue to ETS (the European carbon market fee, ed) and I feel we have a Council of Twenty-Seven united on this subject," he said on the sidelines of a meeting Brussels with his counterparts. "Europe and other countries want a solution within the International Civil Aviation Organization (ICAO)," he added. To date, 26 of 36 ICAO member, including China, the United States and Russia, opposed the measure.

China took the lead from the dispute by freezing orders for Airbus aircraft placed by its airlines. "The decision of Beijing has an industrial impact: it hits 45 Airbus long-haul, 10 and 35 A 380 A 330," Louis said Thursday Welsh, CEO of EADS, when presenting the results of the 2011 group . "In 2013, 6 A 330 deliveries in 2014 and another 19 are endangered," he added, asking the EU not to insist on applying a unilateral measure. "We promote an agreed solution on a global scale. The European tax is not the appropriate solution. It distorts and puts us at odds with the rest of the world, "insisted Louis Welsh.

Trade war

The carbon tax applies to all airlines flying over European airspace. They will, however, forced to perform in the spring of 2013. Carriers must pay 15% of their emissions in the year 2012, 32 million tons, according to the price of a tonne of CO2. Otherwise, Brussels has set two types of penalty: a fine of 100 euros per tonne, more radical, the flight ban over European airspace.

China has calculated that the bill will amount to nearly 100 million euros for his companies and four times in 2020. In total, the carbon tax would cost 705 million euros for 2012 to stakeholders worldwide. Unacceptable for the Chinese, who are ready to tussle with Europe, even start a trade war with disastrous consequences for Airbus. Beijing is far from isolated. The rejectionist front also includes the U.S., India and Russia.

The threat is real for Airbus, which is fighting against Boeing, in all these regions to sell planes. It affects not only future orders, but also on its order books and production rates, thus on employment. EADS could stop wearing the monthly production of the A 330 to 11 copies, against 7 currently, from the second quarter of 2014. The future of the A350 XWB long-haul next-generation, could be thwarted.

China's strategy of Airbus is shaken

China, the fastest growing market in the world, is strategic for Airbus, which has sold 15 A 380, 2 of which were delivered to China Southern ordered five of them. Hong Kong Airlines, a subsidiary of China Hainan Airlines, has already threatened to cancel its order for 10 super-jumbos. If the case escalates, how Airbus can hope to convince other Chinese players? All its China strategy, whose cornerstone is the introduction of an assembly plant in exchange for A 320 commands, is shaken.

Other measures of retaliation are not excluded. What would happen if Russia, where the A380 has achieved a commercial breakthrough with Transaero last summer (4 A 380), or India decide to follow suit in Beijing? According to Airbus estimates, India and China account for 40% of global demand for aircraft in the next twenty years, or 10,320 units. Something to think about European bodies!

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And if the MBA was also a way for women to break the glass ceiling that still separates them from the highest leadership positions? This is certainly what some have program managers, for which women and men have access to essentially the same functions and to pay out of the MBA. However, these formations are still far from parity show.

"An MBA is between 23 and 35 years, staff in terms of timing may be more complicated for women than for men. They have perhaps more confidence in risk-taking than their female colleagues, "said Caroline Diarte-Edwards, director of admissions at Insead.

More exposure

Still, promotions tend to feminize more. Many have now surpassed the 30%. Their recipe? "A program midway between competition and cooperation, in which our participants say they feel comfortable," suggests Bernard Garrette HEC. Professional networks of women in the alumni associations have also developed, giving them more visibility.

ESCP Europe, Audencia, EM Lyon announce fellowships dedicated to women for the next school year. "The financial aspect is not longer a barrier for women than for men, but by creating a scholarship, we are sending a message to women that we can support them in their career," says Chantal Poty, in charge of the Executive MBA from the Lyons school.

Emmanuella Renac, participant in the Executive MBA from ESC Rennes

Within weeks, Emmanuella Renac deliver his memory, a step that will sign the end of his Executive MBA, started 20 months earlier paydayloan. With the relief of having completed training "demanding, very involved, during which we soon learn to sleep less, to better organize and optimize their time." But also the satisfaction of having learned everything she had come to seek. After 10 years of experience in purchasing and product marketing of electronic components, it feels the need to broaden its horizons, discover new work environments and meet new people.

"He holds a university degree, the MBA has an international recognition that seemed interesting. It was also a process for a senior position because as a woman, you must demonstrate more things a man, "she says. Surprisingly, she discovers the only French woman of her class and encourages her peers to engage in an MBA. Training for which it has borne fruit. Supported by his chief and his HR, although the company did not fund the training, Emmanuella Renac wins quickly after the start of training a sales manager position. "Follow the MBA gave me a status in the eyes of superiors who had an MBA and became interested in my studies. Everyday, I was also entrusted with new missions, in judging me capable of carrying them out ", says she.

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