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Hesitation waltz yesterday at the Paris Bourse. After being undecided, the CAC 40 has finally risen from 0.17% to finish at 3910.01 points. Everywhere in Europe, stock markets have evolved sawtooth almost the entire session. At the finish, the indexes have ended in no particular order, the FTSE in London lost 0.08% while the Frankfurt Dax gained 0.17%.

The Paris market has recovered very end of the session, thanks to a small recovery on Wall Street. The NYSE, which also lacked enthusiasm in the morning after his fine recovery in recent days, trying to take a step forward at mid-term.Shortly after the close of European stock exchanges, the Dow Jones advanced 0.19% and 0.41% on Nasdaq.

While the pressure on the issue of debt Greek gradually eased after the successful launch of its loans, Fitch has rekindled concerns about the market deficits pointing to management by Portugal's budget deficit.

Banks in trouble

The rating agency said that a worsening credit rating of the country was "not excluded" bad credit payday advance . The market was also dampened by a load of the other major rating agency Moody's, against British banks.Analysts at Moody's explained that many of these institutions could see their grades degraded "to run if they failed to significantly improve their financial strength."

In Paris as elsewhere, banking stocks were immediately plunged into the red. Cr?dit Agricole has finally lost 1.41%, 1.49% Societe Generale and BNP Paribas 0.51%. Natixis fell by 0.78% and 0.93% of Dexia. Bad passes also for EADS. The group announced a loss of 763 million euros in 2009 after deciding yesterday to throw the towel in the race for tanker contract from the U.S. Army. The stock has lost 2.80%. Among the few increases in the day, Areva has distinguished (+ 3.59%) while held in Paris an international meeting on access to civilian nuclear power, the great specialty of the French group.

U.S. markets should open in green on Friday, supported by the employment figures less bad than expected. The United States has in fact lost 36,000 jobs in February than in January and the unemployment rate the country has remained stable at 9.7% this month, according to the official report on employment released on Friday, while analysts expected a decline. The future of Dow Jones advance of 0.64% at 10,495 points, the S & P 500 rose 0.09% to 1131 points and the Nasdaq's 0.11% to 1871 points.

U.S. investors should be reassured by the Prime Minister's announcement that China has promised a 8% growth for China this year.Thursday, Wall Street closed higher on a comfortable, supported by bearings recommendations.

In addition to the employment figures U.S., those of consumer credit in January, will be published in 21 hours.

As for currencies, the euro fell sharply Friday against a dollar backed by the release of employment figures in the United States, and reassuring the operators on the strength of the recovery of the world's largest economy.

Values follow

Microsoft: The software giant said Friday it would stick to its strategy of developing the market for search engines in China, whatever the outcome of the dispute between Google to the Chinese government.

Blackstone: The investment fund is hoping to complete an initial transaction in Australia this year and also studied business in Japan and South Korea, each operation may be about 100 million dollars, said an official with the group.

Marvell Technology Group: the chip maker reported a 64% increase in its turnover, thanks to a recovery of expenditure within the sector, to 842.5 million dollars against 842 million expected on average .

General Growth: The title of the second American owner of shopping malls start to be traded on the New York Stock Exchange under its old symbol GGP3 while the group is still under bankruptcy.

A crisis? What crisis? The luxury group Hermes has earned over the year 2009, sales up 8.5% (+4.1% at constant exchange rates), to 1.91 billion euros, exceeding its objectives and expectations of analysts (1.886 billion according to the consensus).

Performance explained by the boost of holiday season. In fact the only three months of 2009, activity has soared by 18% (+11% constant).

"All geographical areas are progressing with the exception of Japan," the group said. This is not surprising. The improvement in the fourth quarter was very strong in the Americas (+20% after +1.6% at the end of the first nine months of the previous year) and Europe (9% after -0.5%) and Asia outside Japan is still very active (35% after 26%).

The two activities most contributors margins are very strong, with an annual turnover up 16% on leather goods – which represents about half of total turnover – and 6% on Silk (12% of total business) cash advance to savings account . The activities mainly wholesale sales are picking up later this year but remain in the red.

Hermes International has finally raised its initial target of 5% decrease in recurring operating income is now expecting a slight increase. Natixis Securities anticipates an increase of 1%. In addition, net income is expected "close to that of 2008, or 290 million euros. The broker for the time table of 306 million euros. An analyst meeting will be held from nine hours.

For 2010, the continuation of the strategy and twelve new branches are announced.

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"These companies are able to impose their prices

After the Japanese manufacturer Toyota is Ford's turn to report problems with brakes on hybrid cars. Without explicitly mention a reminder of cars, the manufacturer said that the owners of certain 2010 models of the Fusion Hybrid and Milan Hybrid mail to receive a letter advising them to go to their dealer for a free upgrade of the computer system manager braking.

The manufacturer said that the problem occurs when switching between the two braking the vehicle, and that drivers always have an effective braking despite posting misleading.

At Ford, the software problem equip 18,000 cars, but only a small fraction of that total "will suffer a problem, according to a consumer association.

Run on electricity, that's fine. Able to recharge its batteries at lower cost and across Europe, it would be even better. This should be discussed at the Council of Ministers Franco-German held this Thursday. The industrial stakes are high, one that will impose "its" Standard for recharging points will be a step ahead. Schneider Electric intends to play this card against his rivals, the French SME in the German equivalent of EDF, RWE, through the Italian or Chinese groups.

The stakes are high. Primarily economic. By 2015, automakers estimate that 10% of French Park, 3 million cars will be electric. To ensure mobility, it takes at least 2.5 terminals per car. Schneider considers prudent in this market "several hundred million euros" for France.But the group is also Europe and the United States, a potential billion.

The second challenge will be to ensure a "green" power users of electric vehicles. "If we must give way to coal fired power plants when everyone recharge his car returning home at about 19 hours, the environmental challenge will be lost, schematically Philippe Delorme, Chief Strategy and Innovation at Schneider Electric. The challenge remains to bring to market vehicles "carbonizing, then using renewable electricity (wind, solar or nuclear). To avoid these peaks of consumption will require that the electric charging stations are able to interact with the network, identify the peak hours and recharge the batteries during these periods.Of course, there is no question of forcing drivers to plug their car between midnight and 3 am, but rather to encourage them with a display of the estimated cost of recharging. "The limits of public support will display two options, a slow charge, for four to six hours at optimum cost, a fast charge, in about thirty minutes, but probably more expensive," said Philippe Delorme instant payday loans .

4.4 million terminals in 2020

These famous terminals will be installed in car parks, private or public, on public property, in columns of 1.5 m, but also in homes. At home, they have the size of a "computer briefcase, with promises be an effort to ergonomics and design. Their installation will require an adaptation of the electrical installation.Recharge a car battery does not require the same amperage as plugging in a toaster! This installation should nevertheless be accessible on the order of 500 to 1 000. An investment that can quickly be profitable if one considers only 3 euros for electricity should be able to run 300 kilometers, cons twenty euros with a heat engine for the same distance.

For its part, the Government has already announced a 1.5 billion euro investment for the installation of 4.4 million terminals in the territory by 2020.

"Under the aegis of Jean-Louis Borloo, Minister of Environment, a working group is studying the establishment of a standardized European solution," said Philippe Delorme. It is a car built for the French market can be recharged in Germany. "This issue goes beyond the issue of compatibility of electrical outlets.Charging a car battery will involve many functions of "dialogue" with the loading terminal, even if only to determine its energy needs.

It will also be able to choose between a slow charge, softer to the battery, and a rapid and determine the cost of the operation. Other points are still under study, such as taxing to the terminal of the new "fuel."

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The tax per kilowatt motor under study

After giving a first pressure on the management of the oil company, Christian Estrosi, Minister of Industry, insists the government "will not accept" the closure of the Total refinery at Dunkirk "as long as n 'There will be no guarantees the necessary continuity "of some 800 jobs involved," he said Monday on radio BFM.

The Government looks forward to the official position of Total in this case. The group must decide precisely Monday on the fate of the Flanders refinery, which employs 370 employees and 450 subcontractors.Depui mid-September, the site is in "stop cyclical" because he can no longer sell its output, given the current weakness in demand for fuel.

"For the moment we have no binding commitment on the part of Total and I say very clearly, the Government will be firm," said Minister of Industry free credit score .

The previous March 2009 is remembered

In any case, the government has warned it did not intend to be outdone in the folder "Total". "We will not accept an initiative to be taken unilaterally without any commitments are made to sustain current employment at the refinery," says Christine Estrosi.

Last Tuesday, the Minister noted that Total was considering the possibility of opening an LNG terminal in the port of Dunkirk.

In March 2009 already, the oil company had attracted the ire of politicians, after announcing the abolition of 555 posts in France, including 249 by 2013 in the refinery. A few weeks earlier, had issued a total record profit for 2008 of 13.9 billion euros.

If these are the salaries of bosses who are the most frequently stigmatized, smaller does not make as many copies. An analysis by John Gatty, chairman of the management company portfolio JG Capital Management, is evident even in the inverse relationship that binds the market performance of the Small Business 90, and pay their boss!

Without claiming to have conducted a scientific study, the manager who invests heavily in these small caps of the SBF 250, compiled and classified statistics publicly available on the market performance of these 90 companies since 2001, and compensation their boss. The finding, paradoxical, compiled by JG Capital Management, is that, on average, over the boss's pay, the higher the stock market performance of the enterprise is low.

"Inverse correlation and shocking"

The nine companies whose stock price rose the most since 2001 (average 640% Hi-Media, Gameloft, Lacie, or VM Toupargel materials are involved) are those whose employers are paying less (203 payday loan ? .000 in 2008). While nine companies whose stock performance was the worst (-76% on average over the same period) are also those whose bosses are better paid (675,000 ? in average). They include Rodriguez, whose owner has received 1,439,000 euros in 2008, Eurodisney and GFI Informatique. John Gatty is that the observed sample (90 companies) can do together, because of its smallness, as special cases. The strength of these statistics suggest, however, perplexed.

Martin Hirsch and John Gatty have also a common platform to Echos, denounced the governance problems revealed by these statistics. For "almost all the companies in which we observe this inverse correlation and shocking claims to respect the requirements of the Code of Corporate Governance prepared by the MEDEF Adep and" they rebelled.

In the duel that pits the Air Europe to the United States, the advantage after the first eleven months of 2009, returns to the Old Continent, represented by Airbus. The aircraft manufacturer, the main division of European aerospace group EADS said Thursday it had recorded 225 orders since the beginning of the year and suffered 31 cancellations, a total of 194 net orders. On the side of Boeing, announced on November 24 last a net balance of 91 commands. The American group, behind more than two years on its proposed 787 (or Dreamliner) had received 204 orders in the first 11 months of the year but suffered 111 cancellations, all fleets.

The initial objective of Airbus, which was to achieve a balance in late 2009 from 300 gross orders, however, should not be reached. The exhibition in Dubai, held in November, has enabled the aircraft manufacturer to fill its order book.From January to November, Airbus announced that he had delivered 437 aircraft and is still on a table delivery of 490 aircraft, is about the same as last year. Until now, seven models of the A380 superjumbo has been delivered while the group still hopes to deliver 13 jumbo versions of their own this year. But he admitted that one or two deliveries could occur in early 2010.

The signs shown on video games is too little known and not visible enough by the Secretary of State for Family, Nadine Morano. Such written statements and pictograms should enable parents to identify the particular minimum age recommended for each game and its degree of violence. "We see too many young people have easy access to shelves of video games most violent, most dangerous and which are not of age and pass without any difficulty to cash" deplored Nadine Morano Thursday on RMC / BFM .

Logos PEGI (Pan European Game Information, http: / / www.pegi.info/fr/) are not mandatory but all three major console manufacturers (Sony, Nintendo and Microsoft) do not play these unstamped European symbols in their catalog.They lay one hand a minimum recommended age (3, 7, 12, 16 and 18) and may also include potentially offensive content (violence, coarse language, sex …). So far only 4% of the games listed are recommended for over 18 years, against 12% for over 16 years and 24% for over 12 years. But this classification is only for information purposes only, with no binding and it is still very poorly understood by parents. While virtually all of 6-17 years practicing video games, only 21% of parents know the signs PEGI according to an Ipsos.

In this context, the secretary of state for family wants better information for parents as well as in-store packaging or on the internet for online sales.Furthermore, she asked that the information referring to the risk of epilepsy for players who stay too long behind their screens are visible on the packaging. In turn, in a statement, the union of the publishers of entertainment software (SELL) "surprised at the positions of the minister who go against the European trend. Considering about Nadine Morano as "a repudiation of the work carried out over the years by professionals in the game, the SELL stresses that" the development of new signage could upset consumers who are accustomed to standards PEGI " .Believing he had been hitherto neither listened nor heard by the Minister's Delegate General SELL Jean-Claude Larue complains: "Nadine Morano stigmatizes these digital entertainment with high potential without apparently having studied the matter seriously."

As for the National Union of Family Associations (UNAF), she believes it is important to build on the PEGI logos and raise awareness. "The signage could probably be improved, says Olivier Gerard support new technologies to UNAF, but it is essential to help parents to decide and justify whether their decision to buy a game" for go further in the discussion and discuss the game in all its aspects the association has launched with eight other partners a section dedicated to him on his sitewww.pedagojeux.fr.

MPs begin Tuesday in plenary review of the draft budget law for 2010, amid record deficit. Nothing says that the extra growth – the government speaks with a GDP increase of 0.75% to 1%, while the budget is built on a figure of 0.75% – will change all that. But it's finally on other issues that the debates promise to be agitated in the Chamber, as the tax shield and business tax. The controversy during consideration of the text of the Finance Committee gave a preview! The project will then move to the Senate before final adoption in December.

? The tax shield dispute

At a time when deficits fly, this device is increasingly challenged even within the majority. Why? Because, by definition, the beneficiaries of the shield to escape any tax hike.The tax shield in effect allows a taxpayer to cap the amount of taxes and charges, including CSG and CRDS, 50% of its income. Amendment of UMP deputies Warsmann Montchamp and offers out of the CRDS shield. A two-stage strategy: its authors do not hide that, if passed, the goal is then to propose during the budget "Safely", raising the CRDS to repay part of the social debt of 2009 and 2010. Still, this scenario is unlikely. For the Elys?e refuses to touch the shield. "We will rally the troops," said the entourage Gilles Carrez, UMP general rapporteur of the Finance Committee of the Assembly.Last week, this body has rejected narrowly, an amendment of the New Center to remove the CSG, CRDS and local taxes shield.

? Shooting together on niches

The centrist MP Charles de Courson propose an amendment to the capital gains from sales of securities are subject to tax on income from the first euro transfer, and not from 25 730 euros. But Gilles Carrez wants only the CSG and CRDS apply the first euro. Stay tuned also: the carried interest, that Charles de Courson wants to tax on income. It is the share of capital gains made by investment funds back to their leaders. Furthermore, proposals abound to lower the overall ceiling of tax loopholes (now at 25 000 euros plus 10% of income).Gilles Carrez should dam.

? Imbroglio around the "tax pro"

Its abolition is unanimous. But the distribution of levies to replace the "tax pro" turns puzzle. The Finance Committee of the Assembly has cleared the ground, expanding the basket of revenue assigned to municipalities. The associations of local elected officials are not yet satisfied. Charles de Courson propose an amendment to the department recover a share of CSG. An idea rejected by Bercy.

? A carbon tax consensual

This is another great innovation fiscal 2010: a "super TIPP" to encourage them to consume less energy. Ironically, critics have quickly vanished on the same principle. The amendments concern and should instead focus on compensation to households and certain sectors such as agriculture.But what changes will be marginal.

"Tax Shelter: Eric Woerth opened a new overall ceiling

The "fad" of the most influential parliamentary budget

Philippe Marini, UMP general rapporteur of the Finance Committee of the Senate Appropriations photo: Le Figaro