Rexel set sail for America. The French group announced Wednesday the acquisition of Platt Electric Supply, family owned distributor of electrical products based in Beaverton, Oregon.

When most companies focus on international emerging markets, Rexel, which is one of the first groups of distribution of electrical products in the world with a turnover of 12.7 billion euros in 2011, a presence in 37 countries and 28,000 employees, is growing into a mature country. Mature, but growing: last year, the activity of the distributor posted 8.3% growth for the North American region, which is above the group average of 5.3%. As emphasized by analysts at CM-CIC Securities, "in the portfolio of Rexel, North America is the geographical area the more focused, both in terms of sales growth as improved profitability."

Now the distributor has lost market share in recent years. Last April, Oddo Securities and stressed that "the group, by the closure of many branches in non-profitable, went for about two years of a market share of 8% to 6% today." Analysts felt that even Rexel now occupied the second rank in the U.S., behind Sonepar. They called again to an acquisition.

This is now done. Platt Electric Supply is present in seven states of the American West. The company reported last year $ 409 million in revenue (about 310 million euros) savings account payday advance. "With this transaction, Rexel will exceed 10% market share in the western U.S., where growth is greatest," said a spokesman for Rexel.

To gain this market share, the French group paid a heavy price, "about 300 million euros," said a statement from the company. "The multiple of turnover in 2011 seems a priori quite high, at nearly 1 times, but the price is probably justified by the financial performance of the company and its growth prospects," note analysts at CM-CIC Securities.

690 million of additional sales

External growth is part of Rexel's strategy. The movement seems to have accelerated in recent months. "The group has now made nine acquisitions since the beginning of the year for a total amount that we estimate close to 500 million euros and an additional turnover of 690 million euros," says Oddo Securities. Last year, Rexel had bought 10 companies for an additional revenue of "only" 209 million euros.

Three quarters of this comes from emerging countries, proof that the distributor is not as mature areas. With a successful trial for the time being insufficient for the observers. "Rexel is not an optimal profile as its exposure to emerging markets remain close to 7% of turnover," says Oddo Securities.

Whatever the final scope of the Franco-German compromise on a European recovery plan, a point is a virtual consensus: the European Investment Bank (EIB) will be further tapped. During his campaign, Francois Hollande has repeatedly cited the institution, explaining to want to see more funding for innovative projects. Chaired by a German, Werner Hoyer, the EIB has the added advantage of being compatible with the philosophy of Berlin in public finance.

Created after the Treaty of Rome, in 1958, this arm of the European Union acts as a conventional financial institution with its shareholders – the 27 EU member states – and its own funds – 232 billion – which it serves as collateral to raise funds on the market and in return grant funds to the public sector. In other words, an appeal to the EIB does not dig, as such, deficits in the area.

Finance ministers of Twenty-Seven will meet Tuesday morning in Brussels, the Governing Council to start work on the practical modalities of strengthening the institution. An exercise stress: no question that the EIB, currently rated "AAA" by the three major agencies, lose this precious document. Where applicable, the cost of refinancing is found in heavy and interventions become less effective.

Two schemes in the study

Request more loans the EIB is therefore to provide in return the appropriate funds. Two schemes are under consideration. The first is to rely on the EU budget. The idea of ​​bringing the Commission to the capital being strongly opposed by the Member States, the solution that emerges would be to use part of European funds as collateral for loans which would then be granted by the EIB. It is this pattern that has been adopted in Greece, for example where the Bank has committed to lend up to 1 billion euros for innovative SMEs from a guarantee of 500 million EU.

The second scheme – which holds the rope – is a mere increase of the EIB's capital, financed by the 27 shareholders. The magnitude of this increase would be about 10 billion euros, which would allow the EIB to grant 60 billion of loans that can generate around 180 billion investment, thanks to the leverage caused by the co-investment from the private sector. An overall figure on which refuses to engage the side of the EIB, "everything depends on the type of investment, leverage is stronger in the context of public-private partnerships in SME lending" says an official. However, the figure of 10 billion additional capital seems to be confirmed.

The impact is not negligible for the European states. The two main shareholders of the bank, France and Germany, which each own 16.5% stake, will write a check for $ 1.65 billion. And even if it is not, strictly speaking, additional debt, the stress on budgets is important. The talks between finance ministers will continue in the coming weeks, to stop a scheme before the European Council in late June.  

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Unavoidable. Both right and left, it is fashionable for a Prime Minister to consult the National Federation of Farmers' Unions (FNSEA) before appointing or the Minister of Agriculture. The first president of the French farmers' union, did not hide it. "It seems normal to me, democracy is a living thing," argues Xavier Beulin.

FNSEA three priorities. The first: the jurisdiction of the future minister. It should be expanded to include the food industry, hitherto in the lap of Bercy. "We can not isolate the production issues of value and foreign trade," explains Xavier Beulin. The request was consonant with that of the manufacturers themselves: "The first industry of the country will she finally be taken into account in the new government, beyond the simple farming?", Mused at the end of Last week on Twitter Jean-Rene Buisson, president of Ania, their trade association.

Second priority for the leader of the FNSEA: international. "We need the new minister has a good knowledge of international circuits and especially Europe. 2013 will be a turning point for the common agricultural policy. Many countries expect the French position on this matter. "

Third major point: the capacity for dialogue. "We had in the past ministers entered the office without special knowledge of agriculture, as the outgoing Minister Bruno Le Maire, says Xavier Beulin no faxing pay day loans. He soon learned his style and printed. What seems important is the quality of relationships that we can eat, especially on the environmental record. "

Le Foll holds the rope

Among the names floating around, both have the favor of the FNSEA. "For years we are talking to a number of interlocutors of the PS as Stéphane Le Foll who knows agricultural topics. MEP, he knows how the Commission, Parliament and how to develop the European decision, "Xavier Beulin advance. "We also have the French Parliament out of the speakers as the member of Dordogne, Germinal Peiro, spokesman for SP agricultural issues and rurality. We meet regularly, "says the boss of the FNSEA, with less effusive.

Still, the FNSEA does not seem intrusive vis-à-vis Matignon. "The subject is not the person but what we can build together, concludes Xavier Beulin. We will be loyal and responsible partners. The interest of France through a strong agriculture, agri-food sectors and strong agricultural equipment, a training system and powerful search. "

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No miracle. Greece's gross domestic product will fall by "around 5%" this year, suffering a fifth year of recession, acknowledged Tuesday the Bank of Greece. The plunge "will be less pronounced than in 2011", where GDP fell 6.9%, concedes the national bank, but 0.5 points higher than it expected in March. And it is also necessary that the restructuring measures promised by Athens to be "implemented without delay."

Unemployment, says the Bank of Greece, will exceed 12% of the workforce this year, against 17.7% last year, while inflation will be around 1.2%. And the future of the country, which aims for this year a deficit of 7% of GDP and a reduction of its debt to 145.5%, against 9.1% and 165.3% in 2011, rests entirely on the recapitalization of its banks, thanks to 50 billion euros in aid provided by its creditors. They were accused last year a record loss of 27.9 billion euros.

For Panagiotis Tampoureas, director of development pole of the ATE bank in Athens, the estimate of the central bank "is still very optimistic." In his view, the continued decline in wages and consumption can only increase at half the recession yet.

If the Governor of the Bank of Greece, George Provopoulos, underscores, once again warned his country against the risk of leaving the euro area, it must consider the uncertainties posed by parliamentary elections on May 6 Although 36 parties have submitted bids, Greece will probably have to seek a coalition government between the conservative New Democracy and PASOK socialist.

Pension fraud

Will it have the means to stay the course of rigor? This is not won. The government has discovered 200,000 cases of fraud in pensions and social benefits over two years – enough to save over 800 million euros a year.

The Ministry of Labour has also identified 4,000 businesses that reported the imputed social contributions. And Greece, which combines a shortfall of 60 billion euros in unpaid taxes, is preparing to create an electronic record capable of correlating all transactions of taxpayers with the banks, credit insurance, hospitals and all public services. He could emerge from this year and significantly reduce tax evasion.

But the Greek authorities also face another reality of the crisis. In the first half of this year, calculates the European Commission, a thousand individual companies will put the key under the door every week in the country. This is the same economic base of Greece disappears. In 2010, there were indeed very small companies with 742,600 total 2.51 million employees, over 85% of total employment in the country.

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Benetton where history repeated scandals. There are a few more months, in November 2011, the Italian firm made history again by launching it's ad campaign "UnHate", featuring heads of state kissing low fee payday loans.

Alessandro Benetton, son and heir to his wife in 2006 in Venice.

Contrary to popular belief, it is quite possible to take out a life insurance contract on behalf of a minor child. Indeed, the prohibition of insurance death benefit over the head of a child under 12 does not apply to life insurance, accidental death which is merely incidental.

However, a certain formality must be observed. Indeed, if the child is under 12, signature of both parents is required for opening and administering the contract. If one parent is not able to exercise parental authority (because he was deposed or died), the guardianship judge must confirm this subscription.

The contract must have a fixed term, not for life. In practice, we may retain such a period of 8 or 10 years. The contract will anyway renewable annually thereafter.

Namely: by age 12, the child must give consent by signing the contract.

The beneficiary clause

Until age 16 the insured minor, the beneficiary clause can only be "my legal heirs." However, from the age of 16, the minor can write the beneficiary clause of his choice, within 50% of the contract value. Insurers in this follow the requirements of the Civil Code.

Life insurance has in this respect a great advantage. Indeed, it prevents the insured to dispose of its funds from 18 years of age, if his parents consider it necessary or desirable. Simply that the beneficiaries of the contract (ie the child's parents) accept the benefit. In this way, even his majority, the child can not withdraw funds without the consent of his parents.

Our advice is to avoid abuse, it is best to set an age limit (eg 25 years) and write this clause with the help of a notary no fax payday loans.

The power of the contract

Long-term investment, the contract of life insurance is ideal for building up capital to fund future education or entry into working life of the child. Accumulated savings being in his name, he will not be necessary to make him a gift: it avoids the payment of fees, at least until the contract is powered by small amounts.

Namely: Pour a donation of a life insurance contract does not relieve the duty of declaring whether it exceeds the framework of a simple donation of use.

Small streams by large rivers, it is advisable to establish a regular savings on the contract. The greater flexibility is allowed: it is possible to suspend, resume, increase or decrease payments freely.

On what media invest the savings?

Some caution is in order if of course the capital comes from an inheritance or gift. The European funds in this case is ideal.

However, if a regular saving is in place, it may be wise to invest some of the equity markets. This is especially true if the child is small: with an investment horizon exceeding sometimes 10 or 15 years, the potential market declines may be offset by gains. In addition, management options that offer the best life insurance now allow secure savings as needed.

Our advice: choose a flexible and scalable contract, so your child can keep when they become adults and take advantage of its prior fiscal.

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Nostalgic for 7 on 7, the emission of TF1 mythical 1980s and 1990s, will closely follow the two election night of 22 April and 6 May 2012 BFMTV. They gather Anne Sinclair, current director of the Huffington Post website France, and Ruth Elkrief, the editor of the news channel. Anne Sinclair was presented 7 on 7 September 1987 to June 1997. After retiring from the small screen, the show, renamed Public, was presented by Ruth Elkrief from 1998 to 2000.

This is Anne Sinclair herself who suggested to Alain Weill, CEO of NextRadioTV, the parent of BFMTV, to attend both evenings, confirms the latter. "Many of these talents will come together on two evenings BFMTV," he adds.

18 am to midnight, special editions of April 22 (first round of the presidential election) and May 6 (second round) will be led by Alain Marshall, host of "20 hours" on the news channel. It is surrounded by two great figures of the chain Olivier Mazerolle and Ruth Elkrief, faithful since the launch of BFMTV on TNT in 2005.

Anne Sinclair will discuss some of the columnists on the board including Alain Madelin, Luc Ferry, Dély Renaud, Eric Brunet, Jacques Seguela, Jean-Francois Kahn, Caroline and Christopher Fourest Jakubyszyn, the managing editor of the RMC radio, other NextRadioTV subsidiary.

Organizing publicity stunts

The partnership between the Huffington Post and BFMTV France is practically limited to the presence of Anne Sinclair. The site will broadcast the images of BFMTV well, but not participate in the device's web news channel.

Despite a plateau prestigious BFMTV no exception to the calling with "a priority to live in the campaign headquarters of various political parties and a priority to images," said Alain Weill.

The arrival of Anne Sinclair on the set of BMFTV is one of the "success stories" in which the chain is familiar. For his first presidential campaign in 2007 BFMTV, whose hearings were still confidential, was observed by organizing the debate between Ségolène Royal and François Bayrou between the two towers.

In seven years, the small chain of information has emerged in the French media landscape. Created from scratch in 2005, today it is the first in France with an audience share of 1.6% in February, according Médiamétrie. An audience twice that of its rival on DTT, i-TV, a subsidiary of Canal +, however, created in 1999.

The third news channel, LCI, TF1 subsidiary, has no occasion to interfere in the match as it is broadcast on DTT, cable and satellite.

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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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Since the beginning of the year, France can count on a new ambassador in U.S. supermarkets: the Teddy Bear Marshmallow. The chocolate confectionery iconic Cémoi, which this year celebrates its fiftieth anniversary, was called "So Pretty" across the Atlantic. She will seduce children and adults in Canada and the United States. They currently represent a drop from the 400 million Bears produced annually in the plant Villeneuve d'Ascq.

"We ask our pawns in North America, says Patrick Poirrier, CEO Cémoi first chocolatier in the Hexagon with his trade supplier to brands (MDD), who made last year 750 million euros of turnover. We have there an approach to French fashion products. In three years, we increased our sales by 30%. "If Cémoi not realize yet that 35% of its turnover abroad, it counts including the United States to accelerate.

Focus on Africa

The company, based in Perpignan, which is 900 million euros in turnover by 2015, will open next month an office in New York. He intends to take advantage of the recent development of MDD in the chocolate sector and leverage its brand. There, Cémoi – which adjusts its revenues in each country – relies on its truffles, which are a little Eiffel Tower on their packages, and its dark chocolate ranges, a fast-growing segment on which there is still little Deals in North America payday loans. For now, we deliver from our ten factories located in France, "says CEO, grand-son of the founder, who does not rule out making acquisitions in the United States.  

Other fast-growing region for three years, the Eastern Europe (35%), which represents nearly 10% of total production. "The increase in living standards, particularly in Poland, where we have a factory of industrial products, driving growth," said Patrick Poirrier.

In emerging markets, Cémoi prefers to pass his turn now in Asia, having suffered a failure in China in the 1990s. Instead, it set course for sub-Saharan Africa, where he bet on population growth and economic take-off, and its historical presence in Côte d'Ivoire through a processing plant. "We're going to floor on small packaging and on basic products such as chocolate spread," said Patrick Poirrier.

Finally, while the cocoa supply will become critical to the future (it will take one million tonnes in the next decade), Cémoi strengthens its role on the upstream. For two years he sells beans to other chocolatiers, tired of going through middlemen or traders. A new market for Cémoi, which now boasts its presence in the entire chain.

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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