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admin — Thu, 24 Nov 2011 20:40:08 +0000

Dentists in the annual conference through Friday in Paris, take the opportunity to remind the economic weight of their profession. The 40,100 dentists, 92% in private practice, employing 47,900 employees. They also work 17,800 people in the laboratories of prostheses and 4,000 people from their other suppliers, said the French Dental Association (ADF, which includes the major professional organizations and organizes conferences). Last year, the expense of the French Dental reached 9 pay day loans.9 billion euros, 175 billion on medical care.

Problem: Medicare pays very well Prevention (annual check) or interim care (treatment of tooth decay, scaling …) but very poorly prostheses. However, in the first case, it imposes tariffs and recognizes itself that they are no longer set at fair value for years.Dentists are therefore led to "remake" of crowns and other bridges, whose rates are themselves free.

admin — Fri, 18 Nov 2011 04:20:12 +0000

Eight days. It only took eight days for Italy, if attached to the chatter and bargaining that distract from the action, change of government. Eight days for a bloated team, dedicated to one man, Silvio Berlusconi, who won the 2008 elections, and defended by a right-wing coalition increasingly uncertain, gave way to a gathered group of "experts" under the authority of a former European Commissioner, who has never participated in an electoral battle but ensured the support of a majority together left and right. To understand how this revolution has occurred, we must return a little back.

For two years, confidence in the Italian government has been falling as steadily deteriorating relationship with the political world."Concerned about a financial crisis, two-thirds of Italians believe that the worst is to come, distressed by unemployment and social welfare in a period of greater vulnerability, they felt that no one took him round the waist problems, do not even recognize the existence, says Nando Pagnoncelli, director of Ipsos. Neither the government and elected a parliament that does not debating the privacy of the Chairman, corruption and their internal battles. "Not only the Italians refuse to grant more confidence in Berlusconi but, having in head the failure of the Prodi team in 2008, after a year and a half of government, they can not believe that the Left in power would be able to govern.

admin — Sat, 12 Nov 2011 00:24:11 +0000

At a silver lining. The great blunder of the rating agency S & P issued Thursday to its subscribers in error message suggesting that the note of France was degraded allowed to know the exact impact would have been the suppression agencies rating of the famous "AAA" from France.This information has been totally denied by the U.S. agency Standard & Poor's and the Financial Markets Authority (AMF) has launched an investigation, but the damage was done.

Thursday, shortly after the dissemination of this false information to 3:57 p.m., the French rate on loans to ten years amounted to 3.46%, bringing the pay gap with German bonds of similar duration to a record 166 points percentage not seen since the creation of the euro.

Everyone to understand that France will soon be degraded

This Friday, at the opening transaction, rates eased around 3.36%, but markets have learned their lesson. In exchange, everyone understood that in case of deterioration in the rating of France, synonymous with loss of the "triple A", the rates of government bonds with ten years showed 3.46%, or 3 , 5%.

Gas prices: the regulator wants to change the rules

admin — Sun, 23 Oct 2011 23:08:21 +0000

In the thorny issue of gas pricing, the Commission for Energy Regulation (CRE) wants to make its voice heard. In early October, the policeman made a sector review (Advisory) negative impact on the government's decision to freeze gas prices, finding an increase inevitable. Today, the CRE takes a stir throughout the report, submitted to the government, the procurement costs of GDF Suez.

In this paper, Le Figaro that was provided, the controller gives the whole device flat regulated prices. He would like to begin this system to be deleted for Industrialists. Not only France is an exception, but most large companies feed on the market today and therefore spend regulated tariffs.These two reasons argue for a quick exit with respect to the CRE.

With regard to the regulated rates for individuals, the regulator is pushing for major reform. In the background, the benefit to the consumer. The CRE has accounts: only lower taxes compared to other European countries means that the regulated prices of gas in France is attractive. Otherwise, the costs of the molecule fall within the upper range in Europe. In the event of a removal of regulated prices, also under review, the regulator said that "a reflection on the evolution of social systems face the problem of cost of energy supply" should be conducted to help households more modest easy pay day loans.

Market price

Meanwhile, the CRE would like the formula incorporates a larger share of price indexation market.They are currently cheaper than the cost of long-term supply imported into France and indexed on oil. This index accounts for 90% of the price fixing. The CRE wants this share declined to 70%. Currently, there is a difference of 5 euros per megawatt hour (MWh) between market prices and long-term contracts. In early 2010, he was over 10 euros.

The CRE, which found that GDF Suez manages its supply portfolio globally, recommends that this optimization is more beneficial to the consumer. Therefore "an expansion of the scope of supply included in calculating the costs covered by regulated tariffs." In addition to the increased use of market prices, the regulator stressed the importance of liquefied natural gas (LNG), for whom Europe is a natural outlet.

These tracks will be reviewed by the government.They, who know that long-term contracts often protect the abrupt fluctuations, will also decide on the pace, currently quarterly review of gas prices.

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G20: Paris tries to avoid tension

admin — Sun, 16 Oct 2011 02:44:20 +0000

A sequence at high risk for economic diplomacy opened on Friday in Paris with a G20 Finance Ministers, which ends in mid-afternoon today. The summit precedes the meeting of European heads of state, October 23 in Brussels, to enable Europe to get united at the top twenty richest countries in the world, at Cannes, 3 and 4 November. The road is marked. But after the race progress is uncertain. The subjects of accumulated tensions between developed countries, amid Sino-US tensions around the issue of exchange rates.

Aware of the pitfalls, Paris, who chairs the G20 seeks to avoid the reasons for tension. First objective: to show that Europe is determined to solve the crisis of its debt, which raises concerns around the world.To do this, nothing better than to show the strength of the Franco-German couple at a luncheon on Friday at the Elysee, bringing together around the president, the French finance minister and Baroin his German counterpart Wolfgang Schäuble.

"We have made good progress on the path to find how to package a comprehensive and lasting agreement," said the French way out. For Baroin, progress has been made "on the joint bank recapitalization," he may say no more.According to European sources cited by Bloomberg, the euro area is working on the assumption of a default of 50% of Greek debt and would have identified seven options to boost the European Financial Stability Fund (EFSF), from the processing bank the simple assurance of securities issued by the countries most vulnerable.

Individual Solutions

Paradoxically, this sacred union between France and Germany is no longer visible in the markets cheapest personal loan rates. Yesterday, the spread between ten-year French and German was 93 basis points, to the detriment of the former. Never since the creation of the euro area, France has borrowed as much from Germany even though the absolute rates at ten years French remain historically low.In the eyes of financial markets, it shows the weakness of leeway in Paris, to boost the EFSF or possibly refinance its banks.

The other cause of tension that the French Presidency is to avoid global order. At their working dinner last night, finance ministers from the G20 should discuss ways "to ensure global growth strong, sustainable and balanced", as agreed for three years. But unlike previous summits, where everyone was asked to revive its economy, the solutions will be this time individual. "At Cannes, each country will come with two or three steps to support its economy depend on the fiscal space of each other," says Bercy. What display a facade of unity.

However, the Twenty will not avoid the reasons for tension.The heaviest between China to the United States, since the passage by Congress in Washington, a bill denouncing the undervaluation of the yuan. The newest arrived yesterday: the emerging propose strengthening of $ 350 billion financial capacity of the IMF for help, among other things, to finance Europe. A proposal that has received a plea of receiving U.S. Treasury Secretary Timothy Geithner, for whom the IMF has "largely sufficient resources to deal with the crisis."

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Why the stock market prefers to Carrefour Casino

admin — Tue, 11 Oct 2011 01:40:13 +0000

The difference in performance between Carrefour and Casino is evident on the stock market. Since January 1, Casino lost 18% against 41% for Carrefour. Over five years, fell by 8% Casino and Carrefour tumbles 64%. Despite a difficult French market, Casino manages to get its game against Carrefour. Casino has managed on several points.

A successful international expansion

Casino has succeeded mainly in some countries. The group of Latin America's main platform for international expansion, although the group has some nice success in Asia (Thailand and Vietnam). First, it is Brazil, where Casino owns jointly with its parent company Rallye, 48.1% of CBD Grupo Pao de Açúcar. The success of Casino in the country had also been salivating Carrefour and its shareholders. They had tried to orchestrate a merger that was not the taste of Casino.

A successful real estate subsidiary

Casino can also count on its real estate subsidiary Mercialys. It is worth 2.56 billion euros for a wealth of 2.54 billion euros. In fact Carrefour has assets, much larger, estimated at 15 billion euros. But its real estate subsidiary project fell into the water.

Little excitement in the shareholding

At Casino, ownership has been stable since the merger in 1992 Rallye and Casino. Jean-Charles Naouri has locked the capital since its holdings Rally and Kerrous hold 51.09 and 6.49% of shares. Brother Albert is a quiet and faithful shareholder with 1.7% of the capital. At Carrefour, the float was very important before Bernard Arnault and Colony Capital will invite themselves to capital. They jointly hold nearly 14% of the shares 100% free credit score.

Governance, clear and precise

At Casino, Jean-Charles Naouri decides.At Carrefour, the change of presidents have succeeded without success. Since the departure of Daniel Bernard, nor José-Luis Duran or Lars Olofsson have managed to revive the company. On the contrary, records against Carrefour-performance, particularly in France.

To a satisfactory third quarter Casino

Wednesday, October 12 evening, Casino will publish its revenue for the third quarter. While billings should not proceed at a pace as rapid as in the first half (+18.8%) but growth is expected to remain satisfactory. Unlike Carrefour, Casino relies on strong performances in France.

The stock options

These findings illustrate the past, but investors should now focus on the analysis of the perspectives of both groups. From this point of view, the stock options is tricky.In fact, Carrefour has fallen very low and it is difficult to imagine a new fall of the action. Carrefour has suffered a lot of hedge fund strategy of buying and selling Carrefour Casino uncovered. Most of the fall of Carrefour is behind us. The recovery will take time but it should be occurring at one time or another. Casino has a real advantage for the shareholder, the group pays a regular dividend and generous. Those who want to enjoy a very high efficiency can also turn to rally, the parent company of Casino.

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"Greece does not curtail its business"

admin — Sun, 09 Oct 2011 15:44:11 +0000

LE FIGARO – What do you expect your visit to France?

Michalis CHRYSSOHOÏDIS – France is a strategic partner, the second largest foreign investor after Germany. I will meet with the bank Oséo. The SME Bank is to me a model success story. It has supported companies in recent years and has funded the development of France. We want to inspire us to create our own investment bank. Then I meet Baroin and companies interested in investing in Greece. I see a great interest on their part especially since the launch of the privatization program.

Why are these privatizations n'avancent not they?

Be careful. We want to value the assets of the country and not sell everything, quickly and cheaply. Do not believe everything we Bradon. Foreign companies have this impression because of the crisis.But investors must understand that they must add value to the country by buying companies, they will not buy at bargain prices just because the Troika (EU, ECB and IMF) has set targets for privatization.

What are your criteria for selecting candidates?

It will take commitments in terms of jobs and investment. A Greek in two is unemployed. Yet young people are highly educated. The vast majority has a lot of degrees and study abroad. We can not continue to let them emigrate abroad and lose our minds. We have no preference on the nationality of the interested companies. The European framework does nothing, so if we have good proposals from non-European groups – from Asia for example – we will take seriously into account.We must establish a business model that will be based on production, competitiveness and trade.

But the Troika impatient …

We will fulfill the objectives of the 4 billion privatization by the end of the year. But you know, the Troika also wants the success of this program. His emissaries were correct in finding that there had been delays in structural reforms, but they must understand that we have passed a series of reform laws that are not spent in the company, in the real economy business

George Soros, the new ally of the "unworthy"

admin — Tue, 04 Oct 2011 21:48:12 +0000

At its third week of protest, the anti-capitalist "Occupy Wall Street" (Let's take care Wall Street) has found an ally for the least expected in the person of George Soros. Asked Monday on the sidelines of a press conference at the UN, the American has experienced financial sympathy for the protesters and their views, saying "frankly understand their reaction." Responding to a question about the protesters who laid siege to Wall Street and have occupied Saturday including the Brooklyn Bridge, George Soros said the anger expressed by both anti-capitalist protesters and activists of the ultra-conservative "Tea Party" was primarily bank stocks.

He emphasized the plight of small business owners whose interest rate credit cards rose from 8% to 28% after the 2008 crisis."And since this depended on credit to manage their businesses, many of them have actually been closed," he said. "At the same time, the decision not to inject capital into banks but in reality to relieve them of their bad assets and allow them to get out of the hole left banks with super-profits and allows them to pay super bonus, "he added.

Surprising support

The confession of George Soros calls and detonates. If the wealthy American investor has always denounced the current financial system, guilty in his eyes, among other things, be detrimental to the economies of developing countries, its position is unique.

Indeed, George Soros has amassed an enormous fortune based on speculation through its investment fund Soros Fund Management.It is especially known for its raid against the British pound in September 1992, allowing him to pocket more than a billion dollars in one trading session. At first glance, his career does not echo the fight against greed advocated by the protesters.

Billionaire investor but also important philanthropist, George Soros is a man of paradoxes. Seventh richest American in Forbes in 2011, with a fortune estimated at $ 22 billion, founder and adviser of the investment fund Quantum Fund domiciled in the tax haven of the Netherlands Antilles, it supports and finances together for a long time the development of societies democratic and open especially in Eastern Europe, notably through the Soros Foundation or the Open Society Institute he created.

An investor free of dogma

At the same time investor Carlyle Group, one time advised by George H.Bush, but support for Barack Obama in 2008, George Soros is an investor wants free of dogma or ideological affiliation.

After obtaining the support of George Soros, the demonstrators were hoping this week that major U.S. unions, supporters certainly less unusual but equally crucial for the future of their movement.

The movement of those that we now call "the unworthy Wall Street" and is gaining momentum in the country can count on the support of several celebrities from the beginning of its mobilization.Thus, from Susan Sarandon to rapper Lupe Fiasco through Yoko Ono not to mention the director and unconditional destroyer of American capitalist system, Michael Moore, there are dozens of personalities, mostly from the art world, displaying their support for this movement of social revolt in the heart of the world capitalist system.

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Denmark launches the first tax on fat

admin — Sat, 01 Oct 2011 22:40:20 +0000

While the French government is trying to accept a tax on sodas, Denmark chooses to go further. The country became on Saturday the world's first to introduce a tax on fat. Presented as a measure to fight against obesity, it will increase the prices of 16 kroner (2.15 euros) per kilogram of saturated fat. Example: the price of a brick of butter 250 grams, which would contain 63% saturated fatty acids, would increase by nearly 3 crowns (about 40 euro cents). The tax will apply to all products containing more than 2.3% of fatty acids: the meat through butter oil, cheeses, creams and processed products.

Anticipating the new, the Danes have rushed into their supermarkets this week to refuel."We had to stock tons of butter and margarine to be able to serve our customers," says Soeren Joergensen, a group leader dairy Arla Distribution. "The week was rather chaotic, with lots of empty shelves. People filled their freezers, "says Christian Jensen also responsible for a independent supermarket in Copenhagen.

An "administrative nightmare"

While retailers are rubbing their hands, business is gray mine. The Confederation of Danish Industries (DI) is even talk of an "administrative nightmare" no faxing payday loan. The products are imported or Danish manufacturing, it will indeed ask for statements to producers on the amount of saturated fat in the product but also used in its preparation.Similarly, updating of computer systems has required many hours of overtime for producers and retailers. "All this has a cost that will be passed on to consumers," warns Gitte Hestehave, spokesman for the DI. "I doubt this will have a positive impact on health, it is simply an additional tax," she adds.

For its part, the European Commission said "monitor" the introduction of this tax "to be sure she does not create barriers to trade" within the European Union. Indeed, when the fat content of an imported product is not sufficiently indicated, Denmark reserves the right to impose a flat fee plus importer. This could push them to move away from products from other Member States where the reference to amounts of saturated fat is not required.

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The economic crisis is summer flinch the morale of cadres

admin — Mon, 05 Sep 2011 05:00:17 +0000

Staff morale was recorded in late spring a dramatic improvement, the financial crisis of this summer related to sovereign debt of the United States and the countries of the euro area has dramatically changed the situation. And the beginning of September, white-collar grind black.

In any case, what emerges from the latest wave of the Baro-Eco Viavoice for HEC, Le Figaro and France Inter, in August, the total fertility fell by 30 percentage points from May "Unheard of. And, – 55, the index fell to its lowest level since its inception in 2004, "insists François Miquet-Marty, president of Viavoice.

All indicators are in red and some even collapsing altogether. Thus, three out of four frames (+ 25 points) expect a deterioration in living standards in France in general in a year, against one in two in May.And nearly eight in ten (39 + points) forecast an increase in unemployment in the coming months (the survey was conducted before the publication of poor figures from July). "The extent of the deterioration of macroeconomic indicators is particularly worrying," believes François Miquet-Marty payday loans.

Fear of a recession

In this context, it is not surprising that they are pessimistic about the evolution of the economic situation. Seven in ten think that France "will again be in recession" over the coming months."The risks of recession concern especially as states now have more ways to revive the economy," said President Viavoice.

The personal perspectives of white-collar darker too, even though the labor market frameworks remained well oriented in July, according to latest statistics from the Apec, with offers up 67% over 12 months. According to the barometer Viavoice near a two-part (+ 16 points) think their personal financial situation "will deteriorate." More than eight in ten believe that the opportunities to advance their careers will be "weak". "Vote the budget framework of Franco-German proposals against the crisis, G20 in the fall: the appointment of school appear to be crucial to restore the confidence of executives," said François Miquet-Marty.

Click the preview to enlarge the graphic.