JPMorgan announced after the close of U.S. markets heavy losses of over 2 billion following the massive purchase of products that were derived originally from the 2008 financial crisis. The CEO, Jamie Dimon, reported the losses of "litigation of approximately $ 200 million" and "pre-tax losses the brokerage of over $ 2 billion" during a conference call surprise. The boss of the first U.S. bank by assets added that these losses could still grow up to an additional billion dollars. The asset portfolio has complained yet "a lot of volatility," said the leader. "We will manage up", but "it could cost us up to a billion dollars or more" and "the risk will remain for several quarters," added the CEO.

Photo credits: LUCAS JACKSON / REUTERS

Chambers of commerce and industry want to work with the new president and new government on major economic issues: SMEs, industry, international business development, training and learning. "We are a driving force. We are not in the claim, "said Jacques Pfister, Senior Vice President of the Assembly of French Chambers of Commerce and Industry (ACFCI) and President of the Chamber of Commerce and Industry of Marseille Provence in presenting the 22 proposals of the network of chambers of commerce and industry.

Sign of this willingness to change and to affirm their desire to play leading roles in major economic debates, chambers of commerce and industry adopt a new logo, "CCI de France." "There are not many networks of entrepreneurs also involved in the economy of the territories and as close to the territories. We are a private Datar, "says Jacques Pfister, referring to the Directorate of Planning.

Chambers of commerce are active in many areas. "They are machines to do economic development, to train young people to manage infrastructure," says Pierre-Antoine Gailly, second vice-president of the ACFCI and President of the Chamber of Commerce and Industry of Paris. They train apprentices. They welcome students into their business schools. They manage airports or ports. They support SMEs internationally. They help entrepreneurs. They look after employment. "The Chamber of Commerce Marseille Provence 1000 supports RSA beneficiaries per year for four years," said Jacques Pfister.

Simplification of yarrow territorial

Anxious to participate in the economic recovery, the Chambers of Commerce argue that France gets a real industrial ambition. They want to make 2013 the year of the industry. They offer a one-stop financing industrial area to help entrepreneurs to find funding.

The launch of a contingency plan to enable SMEs to enter new markets is asked to stop the decline in the number of exporting companies that are not more numerous in 2011 than in 1995. Large groups will be forced to work with "a share of SMEs and SMIs in the French part of their contracts together abroad."

Noting that France is over-managed and that the powers of territorial and state overlap, chambers of commerce and industry urge a simplification of territorial yarrow, strengthening the role of cities and best use of ports or airports. "It is possible to create a% of GDP higher if we reflect on the cities and provide 1% of GDP higher by focusing on the ports of Marseille and Le Havre," said Jacques Pfister.

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The Economist, to be published next Saturday personal loan for poor credit.

President of the Assembly of Departments of France (ADF), Claudy Lebreton, strong supporter of decentralization and Rural Affairs, wants to accelerate the transfer of competencies from the state to local governments. The laws of 1982 under the government of Pierre Mauroy, then in 2003 under that of Jean-Pierre Raffarin, this would be the third act of decentralization.

The first axis of the reform advocated by Claudy Lebreton, to be presented to Parliament if the left wins presidential elections, would cover the transfer of new responsibilities to local governments. "We propose to strengthen decentralization with new skills to the departments and regions in terms of jobs, training, implementation of EU policies such as the common agricultural policy, he says. France can do much better in terms of skills transfer. It ranks 18th of 27 in Europe, "says he.

Freedoms tax

But who says new skills also said additional revenue. This is the second axis of the proposed reform. "The tax changes sought by the National candidate Holland would be the opportunity to propose a change in local taxation," says the representative of the departments of France. "It will take more responsibilities and freedoms to local tax to fund these new skills," says local politician, head of the Cotes d'Armor since 1997. Among the ideas put forward: the integration of a criterion in determining income housing tax so it is no longer based solely on the rental value of housing. Figure also increasing the share of taxes transferred on TICPE (domestic consumption tax on energy products) to the regions no fax payday loan.

The latter, closer to the needs of business, would be entrusted, in co-responsibility with the State, public service employment. In addition, to finance the social aspect such as RSA or dependence, part of CSG can be fed into the department budget. Conversely the representative of the councilors described as "highly dangerous for the finances of the department" the measure proposed by the president candidate, Nicolas Sarkozy, to halve the land transfer for value (DMTO), a transaction tax estate. "It represents 10% of department budget, or 7 billion euros, it is far from negligible," he insists.

Third axis of the reform of local democracy. It would involve the prohibition of double an executive mandate with a parliamentary mandate, the creation of a local initiative referendum, the best account of the status of local elected officials, union and association.

The timing of this reform would be quick and simple. "A law of territorial democracy would be presented to Parliament this autumn in the wake of the general assembly of the territories set up by the Senate president, Jean-Pierre Bel," explains Claudy Lebreton. Provided however, that Francois Hollande is elected Sunday, May 6 and he then won the general elections in June

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When the total wealth of a taxpayer exceeds € 1,300,000, the latter is liable for the solidarity tax on wealth. The basis for calculation of this tax is calculated at roughly the same rules as that of inheritance. But for the life insurance, the comparison stops there.

Indeed, while these contracts are not (or partially) subject to inheritance tax, they are considered in terms of the ISF as any medium of financial savings. Thus, all life insurance contracts should be included in the taxable wealth. The value to be reported is that of the contract on January 1 of the tax year.

Namely: if the taxpayer held assets greater than € 3,000,000, must complete a detailed statement. The contract must be included in Appendix 3-1 of the Declaration of ISF, under "other property".

Reduce taxes on capital

Contracts of life insurance called "non-redeemable," that is to say those agreed in lost funds, are exempt from wealth tax. From this, some insurance companies have built contracts supposed escape partly or wholly, to the imposition. The most common contracts "to loyalty bonuses" and "contracts in euros diversified."

The contract to loyalty bonuses isolates for 8 to 10 years of financial support specifically, the interest generated by capital. These interests are blocked, and are not redeemable for the specified time. They are therefore exempt from wealth tax until they are reintegrated at maturity of the blocking period. But capital has remained on the taxable throughout this period. The contract is therefore only partially exempt from wealth tax and for a limited time paydayloans.

The life insurance contracts in euros has diversified in turn sought a more radical approach. In these contracts, the funds are frozen for 8 to 10 years, making them in principle non-redeemable. But the tax has not kept insurers in this field, and confirmed that these contracts remain taxable to tax on capital for their full value (instruction 7-S 4-10).

The acceptance of the beneficiary

Always to get these contracts from the base of the ISF, some experts have suggested to use the recipient's acceptance. Therefore the beneficiary of a life insurance contract has the option of accepting the earnings before or after the death of the insured.

If he does in his lifetime, the insured is blocked: it can no longer perform the redemption of his contract without the consent of the beneficiary. It seemed therefore possible to exempt these contracts because they were not freely redeemable. But again, the tax authority has raised an objection of inadmissibility (Ministerial response Dollez No. 18648). These contracts are taxable to the ISF.

The taxation of annuity

But in reality, the annuity is taxable to the ISF for its value called "capitalization." This value corresponds to that of capital which is gradually consumed to provide the annuity. It appears every year on the statement sent to the annuitant by the insurance company. It must declare the same as a life insurance contract.

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Following the agreement reached Wednesday between the European Commission, the European Parliament and EU member countries, the price of mobile phone calls while roaming will fall in July. In May, the European Parliament must approve the agreement which provides for a ceiling on the price per minute of voice communication "roaming", that is to say, the ceiling price charged by operators to their customers for calls made between two European countries. The level of declines, which should come into force on 1 July 2013 and 2014, was also decided.

Duty, a call of one minute past from abroad, which costs more than 35 cents, should return to 29 cents in July and 19 cents in just over two years. Especially, the price data downloaded with his camera will be capped at 20 cents in 2014 against 70 cents in 2012. This is the first time an agreement is reached on this point, which will reduce the cost of a smartphone abroad. For this type of device connects to the network, even without the subscriber has the feeling of surfing, to automatically update applications, email and location.

Thus, Neelie Kroes, Vice President of the European Commission is poised to win his struggle against "the group of five" major European operators of the Old Continent, including France Telecom, Deutsche Telekom and Vodafone instant credit report. The latter threatened to ask for "a moratorium" on roaming price cuts, which gives them an important source of profits. The GSMA, which includes mobile operators worldwide, deplores "the objectives of maximum prices go too far." Indeed, price declines are greater than that requested by the Commission.

Moreover, the agreement establishes an increased competition in Europe for roaming calls. After 2014, during a trip abroad a subscriber will be able to pass a temporary contract with another operator than his home country to reduce their bill.

YOUR TESTIMONY – The lower rates will she influence your communication abroad? SMS, calls, emails, social networks? What means of communication do you favor abroad? Tell us about your experience in comments below or temoin@lefigaro.fr.

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Aéroports de Paris (ADP) has to climb several steps in the global ranking of the largest dealers of airports.

The French group has indeed won the tender to acquire 38% stake in TAV Airports Holding and 49% of TAV Construction. Amount of the transaction conducted with three major Turkish private shareholders: $ 923 million (704 million). With this transaction, ADP adds ten new airports (and 53 million passengers) to its portfolio, which already had thirty through numerous participations in Europe, Asia, North Africa, the Middle East ….. …… Profitable since 2013

This is his biggest financial transaction since the cross-shareholding agreement with Schiphol Airport in Amsterdam in 2008. Entirely financed by credit lines and cash, acquisition, ADP promises, will be profitable in 2013.

Despite the difficult relations between Turkey and France – very tense on the Armenian genocide issue – ADP was shortlisted in final phase of the competition against another group tricolor Vinci. However, the performance of Turkish airports whet the appetites of what: a further 18% growth per year in passenger numbers, the margin generated by the Turkish operator has continued to grow: "In 2006, gross operating TAV was 29 million euros. Today, for a turnover of 880 million euros, it was 257 million euros, up 55% per year, "exclaims Peter Graff, CEO of Aéroports de Paris. The Istanbul Ataturk Airport is the "room of choice" for ten Turkish airport platforms: it attracts 37 payday advance.5 million passengers per year. Those of Ankara and Izmir contribute only 8.5 million a year each. But all offer potential for growth. "These are good quality assets and management of the business is also good. The current is passed between us, "said Pierre Graff.

Sources of growth

In late February, when the annual results, the CEO of ADP had reminded the international strategy of his group, which the state still owns 52.1% stake. "We recently redébattu in the company of our international strategy. What do we want? To create additional reserves in the medium and long term. What targets do we want? Airports within the OECD or among the BRIC – Brazil, Russia, India and China. " Since, these wishes were partly fulfilled: a week ago, ADP won the concession of the Zagreb Airport in Croatia. But he also lost two bids in Brazil.  

In 2011, the turnover of ADP increased by only 0.9%. ADP has balanced its business through diversification of its businesses outside of aerospace activities: real estate, international trade … The will allow it to deploy this expertise, where airports can expand further.

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From our special correspondent at Austin (USA)

"You are the rock stars of tomorrow." In one sentence, dropped in front of thousands of Web entrepreneurs, Hugh Forrest summarized the spirit of the conference which he is the organizer. The festival South by Southwest (SXSW) has been meeting for twenty-five mid-March in Austin, Texas. In recent years, the conference dedicated to new technologies a huge success. Of "Woodstock for start-ups," where we would meet over a few beers and a barbecue, the event mutated into strategic meeting for start-ups seeking to conquer the world.

The source of this renewed interest, the essential role played by SXSW in takeoff of the stars of today's Web, Twitter to Foursquare via Facebook. The festival is now regarded as the place where the giants are discovering digital future. "The attendance has increased by 20% annually since 2007 with the launch of Twitter," note the organizers of SXSW. Founded in 2006, the startup has benefited, in Austin, the meeting of three factors: the boom of social networks, the emergence of smartphones and the presence of a crowd of fans looking for tools to facilitate the networking. In one week, Twitter has become the sensation of the conference.

Geolocation mobile

The same enthusiasm has propelled mobile location-based service Foursquare on center stage in 2009. The application was very useful for many festival goers, allowing everyone to know where he could find his friends. The efforts of the local team did the rest. "We had T-shirts that offered, chalk with which we had drawn of the pools on the ground before the conference center, on which Dennis Crowley (founder of Foursquare, Ed) invited people to play," is remembers Evan Cohen, general manager of Foursquare and invited the 2012 edition. "We did drive by the organizers because it was against the rules: we were drawing with chalk on the ground next to Ford who had paid to be displayed at the entrance to the conference center! This caught the attention of the press. "

Today, this guerrilla advertising is not enough to drill at SXSW. "You need a plan of attack, we know who wants to meet and be very open," said Hugh Forrest. "You have 8 seconds to convince them," says one contractor, accustomed places. To exist, the hopes of shaping web services tailored to the festival. Newcomer of the Year 2011, discussion of the application bundle GroupMe and had organized a free distribution of toasted sandwiches. The start-up was later acquired by Skype. This year, the application Uber, which usually allows private cars to order with his mobile, offers festival-goers to take delivery of snacks. Foursquare, meanwhile, now publishes specific badges that can be unlocked by those who attend SXSW. But this year, while the opening of the conference was marred by rain, festivalgoers have especially cherished the ponchos provided by Bing, the search engine … Microsoft.

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Gerard Couturier, Chairman of the Supervisory Board of SNCM, playing double or quits. He has written to Paul Giacobbi, the President of the Corsican regional authorities, to propose to take control of the company for a symbolic euro and thus facilitate the creation of the Regional demanded by the aedile. SNCM is destabilized both by the programmed withdrawal of its main shareholder Veolia, the early termination of public service delegation (PSD) Maritime Corse, the sharp decrease in service looming in the next tender and unbridled competition. The proposed Gérard Couturier was immediately described as "grotesque, ridiculous and indecent" by Marie-Paul Bartoli, Chairman of the Transportation Agency of Corsica, the armed wing of the community in transport.

Veolia ready to throw in the towel

Since moving to the private sector in 2006, SNCM has almost always been in the red. She was accused of operating losses of 15 million euros last year. Gérard Couturier recalls in his letter the "suspected predation" Veolia accused in connection with the privatization, while in contrast SNCM remains "fragile" and a drip of its main shareholder. The prospect of a reduction of the DSP would result in the release of two fleet of 8 boats for SNCM which would have to lay off 800 people in 2000, warned Marc Dufour, chief executive.

In this context, Veolia launched a plan to dispose of assets, seems ready to throw in the towel. Once the direction of the company asks its employees to adapt, it faces a restive CGT changes, as in the last conflict that lasted three weeks.