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The hosts were visibly in the starting blocks. Barely mentioned by the new Minister of Education, Vincent Peillon, a return to the week of 5 days in primary sparked an outcry from the hotel professionals.

A return to school on Saturday morning "no longer reflects the will of the French" ensures not without ulterior motives Thierry Grégoire, an official of the Union of Trade and Industry Hospitality (Umih). "The important thing is to preserve the weekend" went further Didier Chenet, president of the National Union of hotel, restaurant, bar and catering (Synhorcat).

If lifestyle is important for the French hotel industry professionals, financial concerns are not absent from their thoughts. A study by the firm Protourisme figure to 60 million per year the number of nights lost upon return to school on Saturday morning. Which is still 3 billion euros.

The hosts were on edge, not hesitating to protest the appointment of the new government Wednesday night. Didier Chenet was moved that "tourism has still not fully-fledged ministry." Sylvia Pinel is in charge of Tourism, but also of Craft and Commerce. Obviously this is not enough for industry professionals

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Finding the cheapest car insurance quotes can be an activity that requires a huge amount of time given the number of policies available on the market.

 

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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Fears of mad cow resurface. But everything seemed to return gradually to normal. In the wake of reassuring messages issued by the United States, one of two South Korean brands, which had suspended sales of American meat, finally decided Thursday morning to end the embargo.

Moreover, no country had so far taken any restrictive measure: neither Europe nor the U.S. beef importing countries like Japan, Taiwan or Mexico. This is no longer the case. Indonesia on Thursday became the first country to suspend part of purchases of U.S. beef, after a new case of mad cow disease was discovered Tuesday in the U.S.. "We decided to stop importing the meat on the bones and offal from the United States, but imports of meat devoid of bones are kept," said AFP the Deputy Minister Indonesian Agriculture, Rusman Heriawan. He added: "The suspension starts today and we do not know how long it will last," he said, adding that deliveries were not being affected high quality business cards.

Less than a third of Indonesian imports

The U.S. Department of Agriculture had yet assured yesterday that there was no risk to consumers. The U.S. Trade Representative has called Jakarta to lift its partial ban.

U.S. meat represents only a small share of imports of meat in Indonesia, unlike those from New Zealand or Australia. In 2011, the U.S. exported 18,000 tonnes of beef and various pieces to Indonesia, amounting to some $ 28.2 million, according to the American Federation of export of meat, less than a thirds of Indonesian imports.

But the announcement could bring back some tensions especially if one importer of beef, such as Mexico, decreed an embargo. On the livestock market in Chicago, futures are up slightly from 0.13% to 112.425 dollars.

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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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Then prices will drop? In this ritual question about real estate professionals meet today with a little yes. Certainly not a solid yes, frankly, but yes a little, and that is something. Even in the Ile-de-France and Paris, the traditional stronghold of the rise, things are changing. "In 2012, prices should fall by about 5 to 10% in the Ile-de-France," say solicitors. "We expect a relatively sharp decline in activity this year, about 20%, but a decline of more than 5% of prices in France," ahead of his side Pallincourt Rene, President of Fnaim, who is about to give up his siège.Au beyond the delicate exercise of global forecasting, rather symbolic as the evolution of prices can vary depending on the asset markets, all professionals describe the same picture, that of a market slows down, where transactions are less easily. But none ventured to compare the situation to that of 2008. "At that point, everything had stopped, said Sebastien de Lafond, President Meilleursagents.com. This is not the case today, the market remains fluid, even if transaction times are getting longer cheap credit report. "What has changed in six months? Much and little at a time. Laurent Vimont, president of Century 21, says "a sharp contraction in sales, including in Paris." The slowdown is real: last year, with about 850,000 sales in the former, was a record. This year, professionals expect between 700,000 and 740,000 sales only. "We lost buyers since last July. The apartments and houses that have a default and are too expensive are the same most visited, "said Sebastien de Lafond. "What is new is that Paris is affected by volume, whereas it was the last market to be in 2008," said Mr. Bazaille, president of the Institute for Notarial real estate. The sluggish housing market is not good news for local authorities and public finances. And the change in taxation of capital gains might not make the tax revenue espérées.Finies, flights, quarter after quarter.

"More than at any price"

appetite for stone is real. Credits: Jean-Michel Turpin / Fedephoto

 

After the Millers last week, it was the turn of the manufacturers of dry dog ​​and cat to be sanctioned by the Competition Authority. In a country of 8 million dogs and 10 million cats, groups Nestle (Purina), March (Royal Canin) and Colgate-Palmolive (Hill's Pet Nutrition) were sentenced to pay 35.3 million euros for cartel with their wholesalers.

According to the sages of the Rue de l'Echelle, Nestle and Mars agreed for five years (2004-2008) with their wholesalers, who then sold their stores croquettes (BHV Jardiland, Leroy Merlin, Truffaut …).

The two market leaders have imposed their resale prices, exclusive territorial or customer, thus limiting competition between them. Royal Canin had already been convicted in 2005 by Constable competition.

As for the subsidiary of Colgate-Palmolive, she has arranged with its veterinary wholesalers to ban the export of its products outside the Hexagon.

If Nestlé and Mars are the most heavily penalized (19 and 11.6 million fine), they nevertheless benefited from reductions of approximately 20% penalty for not contesting the facts. They also set up compliance programs to competition rules. Finally, they reorganized their distribution system and p

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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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Gone is the political consensus that prevailed in France last year about the need to save Greece. Tuesday, the Socialist deputies abstained on two bills used to be validated by France on European Stability Mechanism (SPM). And Socialist senators will do the same next week. With 500 billion euros, MES must nevertheless serve from July, firewall Standing against the sovereign debt crisis in the euro area.

Socialists do not disagree that the SS as the budgetary stability pact European carrier with greater discipline on public accounts. And they consider that the MES and form a pact. This treaty "as it stands today does not provide strong commitment to growth," said Tuesday, Jean-Marc Ayrault, president of the PS group in the Assembly. A position in line with that of Francois Hollande, who wants to renegotiate the December European, to add a section on growth.

Heavier debt

"The refusal of the Socialists to vote MES is a serious fault which shows their bigotry," retorted Tuesday, Francois Fillon before the UMP group. Anyway, the MES should be approved by France, the Assembly, dominated by the UMP, having the last word on a left-wing majority in the Senate.

The MES is the latest tools devised to solve the debt crisis. It will function as the EFSF (European Financial Stability Fund), it will eventually replace: it will borrow in the markets and then help the troubled country. These are the European countries which will mean the MES in equity, to 80 billion euros. France will contribute 16.3 billion by 2017, including 6.5 billion this year. This will weigh down all our debt, which has already reached 1.7 trillion. And this bill is not isolated.

As part of the first aid to Greece decided in spring 2010, France has already lent directly to the country 11.3 billion on a commitment of 16.8 billion euros. Public debt has been weighed down by 11.3 billion.

France will contribute more importantly, valued at 23.4 billion euros, the second Greek rescue plan which should amount to 107 billion euros for euro area Member States. The hex will help the European Financial Stability Fund, which lends to States in difficulties with the guarantee of the Member States. Its borrowings weigh down the public debt. Because of all the commitments of EFSF on Portugal, Ireland and Greece, the French public debt should be weighed down by 38.5 billion. So that the total bill for France's aid to European countries in difficulty should go well beyond 50 billion!

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Unity is strength. Armed with this saying and to respond to the stock market crash that plagues the financial markets around the world, the twenty richest economies in the world decided to act jointly. Thus, after a dinner Thursday in Washington, finance ministers and central bankers from the G20 pledged to provide "a strong and coordinated international response" to the crisis.

No statement should be issued initially. But given the urgency of the situation and "the common observation of the need for a collective response," said French Finance Minister Baroin, the G20 is prepared to take "all necessary measures to maintain stability banking systems and financial markets. " For banks, countries ensure that "they have adequate capital," they keep "sufficient access to finance."Central banks provide them with "the necessary liquidity."

At the same time and in response to a request by the G20 in September addressed to Nicolas Sarkozy, the euro zone countries have pledged to implement "necessary measures to increase the flexibility of the European financial stability and maximize its impact to prevent contagion bad credit unsecured personal loans. "

And G20 members say they are committed to act on all fronts: against "increased risk of deterioration" due to soaring public debt, against "the weakened financial system" and "turmoil" growth "low" and "unacceptable level of unemployment." To do this, they will take action to "support growth" while adopting "credible fiscal consolidation plans."And the time is short since the club 20 is the adoption of "an ambitious collective action plan before the summit in Cannes," in early November.

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This year again, the market shelves is essentially … the Apple iPad, despite an influx of competing products on the market. "Other manufacturers are struggling to create the right set-shelf applications to counter Apple," says Kirk Campbell, CEO of IDC. Samsung advanced course in second place world ranking producers of tablets, but it is still far behind the iPad. "RIM, the maker of BlackBerry, will come with an improved product. It retains its chances of success, "said the boss of IDC, while sales of PlayBook, the first tablet of RIM, have not changed the world rankings.

"There's always room for one leader in the business world," said Kirk Campbell.Indeed, users have iPads'm more likely to want to use it in a professional, IT departments are often the resistance, finding the subject too insecure. "The market remains very open shelves and Apple will sell mechanically market share," said Kirk Campbell. However, the firm at the apple still have good days ahead. If Microsoft Tuesday unveiled a new Windows Tablet 8 can equip, no product should be on the market before the end of 2012. Accordingly, IDC does not anticipate any real rebound in the PC market before that date.Then, computer sales are expected to further growth in France, with the arrival of the new Windows, but also new forms of computers and especially ultrabooks These extra thin and light PC Faxless payday loans.

Sales of smartphones are also expected to continue to grow, reaching four billion euros, an increase of 33% at the end of 2011. About 12 million handsets will be sold in France this year. "This increase meets the mobility needs of consumers," said Kirk Campbell, for whom the main battle takes place on the side of operational systems. If for the moment the landscape is dominated by IOS (Apple) and Android (Google), "there is room for five or six players, according to Kirk Campbell. There will be regional solutions. Remember that the Chinese are still not entered the race. "In France, Bada, the operating system from Samsung that plays the third male. Korean is also passed by Apple in July. Android now holds more than 50% of the French market of smartphone sales, against 17.7% for Bada (which equips Samsung Wave) and 17% for iOS Apple.

"The future cars will be connected devices" said Kirk Campbell, who predicted the establishment of a new economic model that would allow manufacturers to generate recurring revenue by selling subscription services. Ford has already extensively engaged in this way with Sync.