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The wealth tax (ISF), unconstitutional in the state? The Sages, seized last July 9 of this issue by the Taxpayers Association Associates, will decide by September or October. And the stakes are high. For if the Constitutional Council was to declare certain provisions of the ISF unconstitutional, we would have the wealth tax as we know it. MPs would then be obligated to substantially alter the content in a specified time. "The legislature would have no choice but to significantly modify the rules for calculating the ISF, or delete part of a general revision of property tax," says Ms. Subra.

The firm Delsol, depositary of the question of constitutionality to the association, is based on several arguments challenging the constitutionality of the tax on capital.One of them echoed the often-repeated complaints by some subject to the ISF, including the famous land owners in the Isle de Re. Insofar as the base of the ISF include all household goods tax, even those who do not produce income, wealth tax does not respect the principle that everyone participates to tax under its ability to pay. To take the example of the fishermen of the Ile-de-Re, one can own a heritage of great value, without benefit of an income therefore savings account payday loans. And then be in a difficult position to pay the ISF.

Reform symbolically embarrassing

If the Constitutional Council was to justify the Taxpayers Association Associates, it would be a first.And a decision that should give grist to the parliamentarians who are already campaigning for the abolition of this tax. The chairman of the Senate Finance Committee, Jean Arthuis, including calls in exchange for the abolition of wealth tax for an increase to 45% (currently 40%) rate the highest tax bracket on the income, an elimination of tax shield and an increase in taxation of capital gains and real estate. But if this reform has the support of tax, although it may be symbolically very embarrassing for the government and parliamentarians.Difficult to explain, when the time is budgetary contractions, which can revoke or amend a tax that taxes "the rich" …

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A new face to face. And this, for the third time since 2001. Airbus and Boeing had 14 hours until today to submit their proposals to the Pentagon to get the first installment of the fabulous contract renewal of the fleet of tankers U.S.. Or 179 tankers for about 40 billion dollars out of a total of over 400 aircraft in exchange for a check of more than 100 billion dollars.

The two rivals have delivered boxes and boxes of documents 8800 pages for EADS Air Force Base Wright-Patterson U.S. Air Force in Ohio. The Pentagon said it would issue its final decision on Nov. 12, after the midterm elections in Congress. Contrary to some rumors, there was no third deposit offer from the Ukrainian Antonov.

The ultimate battle for the tanker has begun.Airbus (2008) and Boeing (2003) have each won once this contract before it is canceled. In March, EADS had been forced to throw in the towel after the abandonment because of "biased competition" in favor of Boeing Northrop, its American ally at the time.

Convinced that his offer and his plane are the best and deal with the Pentagon's commitment to open competition "fair and transparent," Louis Welsh, president of EADS, has decided to descend into the arena. EADS proposes the KC-45, a military derivative of the long-haul A330. This unit has successfully completed numerous flight tests and has won every competition in the world including in Britain and Australia with two KC-45 must be delivered by the end of Payday Advance.Facing him, a derivative competes with Boeing's Military B 767, a paper airplane that does not exist yet.

48,000 jobs

EADS has provided a list of its 200 U.S. allies including some key partners for the militarization of the aircraft. Among them, the first is Rockwell Collins, a specialist in avionics and electronics, as announced by the letter AeroDefenseNews. This group of 4.5 billion dollars in sales, is a longtime supplier to Boeing and its … B767! Rockwell Collins provides the avionics include weather radar and the B 767-200. But it is also an expert in military electronics, which are sensitive equipment aboard the C-130 transport aircraft from Lockheed and the KC-135 Boeing.GE Aviation, Honetwell, Hamilton Sundstrand, Goodrich or agreed to engage behind EADS which the Pentagon has recognized as prime contractor (prime contractor). If its bid is successful, EADS to build an assembly plant in Mobile, Alabama. He believes that his project will create 48,000 direct and indirect jobs with the outsourcing to the United States.

EADS Has a chance to win and achieve the American breakthrough he has been waiting long? Many questioned both the military contracts are in final political decision. The price will determine the Pentagon said, putting pressure on the two groups. EADS has already said he would not take a contract loss

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Louis Welsh critical attitude Boeing

"Boeing and Airbus have been fighting for years

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After six consecutive sessions progress, the CAC 40 came to a halt on Thursday morning, while the major Asian stock indices were moving into the red as U.S. markets ended Wednesday night, around equilibrium, at the end of a day marked by the publication of statistics mixed.

But optimism is back on the Paris Stock Exchange: about 11 am, the CAC 40 is 0.6% to 3697 points.Since its bounce, there are seven sessions, the index rose 9.3%.

On Wednesday, world stock markets have been cooled by disappointing indicators from the United States and remain haunted by the question of public debt in Europe.

Spain after Greece

The European Union leaders are meeting this Thursday from 10:00 to Brussels for a summit devoted in principle to tighten fiscal discipline and better coordinate their economic policies but which may at least be dominated by concerns backstage around Spain, whose weight is far more important for Greece in the European economy. They should also take stock of recent stress tests passed by the European banks, particularly Spanish.

The Spanish and German press has reported a plan in preparation to provide financial assistance to Madrid.According to Spanish newspaper El Economista, the EU and the IMF are currently developing an assistance plan for the country, providing a credit line of 200 to 250 billion euros. Information belied by the European Commission.

The euro fell by his side to its highest in two weeks against the dollar at 1.2250, the fears about Spain's public finances and banking system imposed on the European currency.According to the Minister of Economy Christine Lagarde, the euro currency should be durable and strong.

Rain figures to follow

Side numbers to remember, the current account deficit of France remained stable in 2009 at 37 billion euros or 1.9% of gross domestic product (GDP), as last year, according to the annual report Bank of France on the balance of payments on Thursday.

Overseas, the meeting will still be charged: 14:30 will be published the figure for inflation in May, the current account of the first quarter and the traditional weekly claims for unemployment benefits, scrutinized closely by the world's finances as they can guide the speech by the Fed on interest rates.

At 16 hours will be unveiled the composite indicator of economic activity in May and that industrial activity in the Philadelphia area in JuneThis index is also studied carefully and exchanges tend to react strongly to this activity.

This Thursday, closes the E3 show in Los Angeles, the appointment of video gaming sector.

Tourism in the sentence

At 11:00, the presentation of the economic results of 2009 and outlook 2010 the drug industry in France will follow.

While the association of tour operators (Ceto) will present at 9:30 am the barometer Semester (1 November 2009 to April 30, 2010) of the tour operating business. Surprises are to be expected: for the first time, summer bookings should not be increased compared to last year: The indicator should show stability.A monitor then, the tourism sector on the Stock Exchange on Thursday.

Rhodia pushes his pawns in China: 4.56% to 15 euros

The chemicals group announced Wednesday the acquisition of Feixiang Chemicals for almost 400 million euros. The French now hopes to achieve one third of its revenues in Asia. The broker CM-CIC recommends purchase value (cons "ccumukler" above).

Eiffage: 12.25% to 40.6 euros The group announced Wednesday that its subsidiary Eiffarie had signed an agreement with funds for the purchase 13.73% of Autoroutes Paris – Rhine – they hold a total of 854 million euros.Natixis raised its recommendation on the value of "ease" to "neutreé and pulled up his target price of 15-38 euros.

Plastic Omnium: 2.35% to 31.78 euros The group announced a proposed takeover of Inergy Automotive Systems, a joint venture specializing in fuel tanks formed with the Belgian group Solvay.

Eramet: 3.74% to 230.2 euros A tentative agreement was reached Wednesday night to take that Gabon 4% to 5% of the mining group, while riding in the capital of its subsidiary Comilog specialist manganese we read in one of Thursday's Echo.

Veolia Environnement 0.54% to 21.5 euros (the third increase in ACC) Veolia Transportation announced Thursday it had obtained the network operating north and south of urban transport by bus from Phoenix, Arizona.The contract period of 5 years starting on 1 July and will generate a combined turnover of 386 million dollars (314 million euros), said in a statement the transport division of Veolia Environnement.

Transgene: The balance specialist therapeutic vaccines holds its general meeting this Thursday. The group specialized in immunotherapy is expected to unveil next year's final results of several of its vaccines.It could also enter new agreements with pharmaceutical companies.

GDF Suez: -0.7% to 25.76 euros The company on Wednesday signed a syndicated credit line of four billion euros in five years with 18 banks to refinance the advance lines of credit expiring in 2012.

Aeroports de Paris: 0.02% to 65.45 euros ADP Wednesday reported a 3.3% increase in passenger traffic in May over a year, contrasting with the fall of 19.1% decline in April because of disruptions related to the cloud of ash caused by the eruption of a volcano in Iceland.

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The soap opera twists rescue Opel has caused a new skirmish in the German government between the Liberal Democrats and Conservatives. On Wednesday evening, the conservative chancellor, Angela Merkel, had repudiated his Liberal minister of Economy, Rainer Brüderl, which had ruled against the granting of state aid to troubled German manufacturer. On Thursday, after a meeting at the chancery, the four host plants Opel Länder have pledged to help the manufacturer.

"The four prime ministers have decided to make available to the company for discussions," said the boss of North Rhine-Westphalia, Jürgen Rüttgers, after the meeting. Rüttgers refused to discuss figures.However, the states concerned should increase the amount of their participation in the recovery plan of Opel to save jobs related to les sites of production established on their territory.

Public support of 1.1 billion euros, denied Wednesday Brüderl, should be financed by up to 46% by the federal government, followed by Hesse (29.19%), the North-Rhine- Westphalia (7.11%), Rhineland-Palatinate (5.61%) and Thuringia (2.47%). The Board of Opel has warned that without public support, the parent company, General Motors could eliminate more jobs in Germany as the 4000 dismissal under the current restructuring plan.

Consolidation of the range

Opel employs approximately 25,000 employees in Germany. The factories in Bochum, Eisenach and Kaiserslautern are threatened with closure teletrek No payday advance.Only the maintenance of the center of research and development of Rüsselsheim is guaranteed.

Brüderl had justified its rejection of the application for public assistance from General Motors for its European subsidiary in finding that GM had enough funds to help recover Opel. He made his decision after a meeting of a committee that could not reach a common position after reviewing the request for assistance. GM plans to spend 1.9 billion euros to boost Opel, currently in deficit. The restructuring program includes a 20% capacity of Opel and an overhaul of the range by 2014.

The Liberals had reluctantly accepted, on weekends, a package of measures to save 80 billion euros by 2014 in the federal budget.By refusing the assistance of 1.1 billion, which would have preferred, he said, a builder on the other, the minister wanted to show that liberal ideas were not dead.

However, Angela Merkel warned that Berlin had "not heard the last word in the file Opel" thereby alienating Brüderl, who also refused to grant guarantees for loans to Opel in Europe. The Chancellor, who seeks to preserve its image as a protective mother of the nation, convened on Thursday, meeting with government leaders of regional states concerned to encourage them to increase their participation to fill the hole left after the withdrawal of funds Federal.

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The news has given a new heart from U.S. markets, battered by the crisis of European sovereign debt. The Fed decided to keep its key rate in the range of 0 to 0.25% during a "prolonged period". After two days of meetings of its Monetary Policy Committee (FOMC), in Washington, the decision was made Wednesday by nine votes against one. As at the previous meeting, Thomas Hoenig, president of broadcasting at the Fed in Kansas City, voted against this provision, hoping that the Fed abandons this language.

The Fed noted that, as at its previous meeting in mid-March that "employers remain reluctant to increase their payroll, and a number of barriers impede growth.Considering that the recovery should always be at a pace "moderate" for some time, the FOMC believes that the absence of threats of inflation, the conditions are in place to guarantee a rate "unusually low" long.

Despite this announcement, your wants more optimistic: "The economy has continued to strengthen" and "labor market begins to improve," the Fed wrote in its final communique. However, no information suggests the date of a rate hike to come.

For Thomas Hoenig, the language of the Fed is likely to "aggravate the financial imbalances."Like other FOMC members who themselves do not have a right to vote, he fears that the Fed can no longer control any increase in futures prices if it is slow to signal his intention to increase its rates.

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Energy: one week for the troubled oil

Gravitating around $ 85 last week, oil prices have slowed their rise this week. On the New York Mercantile Exchange, a barrel of light sweet crude for May delivery traded at 84.52 dollars on Monday against a peak of $ 87 on Tuesday of last week. "It comes back to earth, ironic one analyst.

This correction then explained by an increase in inventories of crude reserves in the United States for the tenth straight week. Oil prices continued their decline in the rest of the week despite the fact that the International Atomic Energy Agency (IEA) has again raised its forecast for global oil demand in 2010 of 2% compared to 2009.Investors have been cooled by the analysis of JP Morgan believed that the offer would remain significant because of high inventories of non-members of the Organization of Petroleum Exporting Countries (OPEC).

A wake was held following the publication of positive quarterly results from Intel. The U.S. Agency for Energy Information (EIA) had also announced a surprise drop in crude inventories at 354 million. Since Wednesday, the price has recovered the $ 85. Friday, prices have stabilized around 85.69 dollars per barrel WTI.

Metals: copper, always leading

When China talks about his growth figures, the metals markets rub their hands. Latest macroeconomic figures in Chinese date, the country grew 11.9% yoy in the first quarter. A new whetting the appetite of investors.Remember that China is about 8% growth in 2010.

In markets, copper continued its path toward the summit despite a small reflux (-0.47% over the last 5 days). Friday on the London Metal Exchange (LME), the ton is trading at a consistently high level of 7874 dollars. The goal of $ 8,000 is not far.

Aluminum is also up on the LME, with a gain of 4.30% over 5 days and a high of 2,423 dollars per tonne reached Thursday. A fine performance as the industry giant, the American Alcoa announced Monday that he remained in the red in the first quarter due to special charges related to restructuring. The group was divided into two loss over one year to 201 million dollars.

Nickel is also 8.70% on the week. Ton set a record Thursday at 26,685 dollars on the LME.

Precious Metals: Greece weighs on gold

Gold has had a week sawtooth.The gold shows a decrease of 0.62% over 5 days. Friday, traded 1153.80 dollars per ounce, in a market down by 0.52%. This weakening is due to the rise of the dollar against various currencies worldwide that drives investors to take profits. This weekend, the euro lost 0.3% to an average of 1.3535 dollars amid concerns about the ability of Greece to cope with its crisis. The country has announced its intention to use EU funds to cope with its debt. Gold therefore moves away again from the "peak" predicted by the consulting firm GFMS in its annual report 2010.

The money follows the same path as gold, down from 0.49% to 18.35 dollars per ounce on Friday.The metal still remains above the 18 dollars, a level attained for the first time since January last week.

Palladium was trading Friday around $ 540 an ounce on the London Bullion Market (LBM). Prices dropped slightly over the weekend but that does not make the metal more than 6% in 5 days.

Agricultural products in the green

This week has been marked by rising prices for soybeans, corn and wheat on the Chicago futures market. A bushel of wheat climbed Thursday to $ 4.80, allowing a gain of 3.78% over 5 days. Corn was trading at 3.62 dollars per bushel (44.24% in 5 days), while soybeans traded 9.78 dollars per bushel (3.19% in 5 days).

The announcement of a 11.9% growth yoy in the first quarter in China has boosted the morale of investors who expect a steady increase in demand from countries considered major consumers. The news has mostly benefited the soybean: China buys alone 60% of U.S. exports, according to the U.S. Department of Agriculture (USDA).

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Like many manufacturers of generic drugs – legal copies of original drugs – Mylan is unknown to the general public. Yet the number one generics in France, with a market share of nearly 30% in pharmacies, and the third lab by the volume of drugs sold. In 2009, Mylan has sold 210 million boxes in France and its turnover of 754 million euros, increased by 15%.

For the whole group, the turnover reached 5.1 billion dollars (3.7 billion euros) and net income of $ 582 million. The company listed on Nasdaq is the third generic manufacturers in the world behind Israel's Teva and Novartis subsidiary Sandoz. Pride of place on a huge market.Drug sales amounted last year to 752 billion, said yesterday Didier Barret, president of Mylan Europe, Middle East and Africa, and generics are an important part. In the U.S., they reached last year 71% of sales. The value of generic, cheaper drugs under patent, represents a much smaller share of the pharmaceutical market.

Thus, while they represent 50% of the volume of drugs sold in the EU-27, they weigh only 18% of total sales. A shift appreciated by European governments who save through the credits, 25 to 30 billion euros per year. In France, Social Security has reduced its costs last year of 1.1 billion euros. One third of this gain has been achieved with Mylan.

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Richard and Sandrine (the names have been changed at their request) won 7 million euros in the Lotto in 2006. Four years later, their children are still unaware. When they won their gold mine, Sandrine was a salesgirl in a shoe shop and Richard worked in a creperie. They told their children they had bought a large house with swimming pool after having sold the shoe shop and creperie. Too young to understand, children do not ask. For them, life goes on almost as before. Mother stopped working to care for them and dad bought a brewery. They have discovered the joys of Club Med. But last summer, the whole family left in a bed 4 stars for the holidays. However, Richard and Sandrine have totally changed their lifestyle. When they go in love, they no longer hesitate to go down to George V, a Parisian palace.They are both offered a Rolex to 10,000 euros. And the clothes they no longer count. "The first month, we renewed our wardrobe, for 40,000 euros each," says Sandrine. But we do not buy brands of haute couture. "

Desire reasonable

Both sociologists Michel and Monique Pin?on Pin?on-Charlot, who for decades decipher the habits and customs of old and newly rich, have addressed these Lotto winners have become millionaires overnight. For two years they have interviewed about thirty. The couple in the town and the university gives his analysis this week in an opus entitled "The lucky millionaires" (Editions Payot). Osculter the rich is their hobby. "We have worked twenty years on the inherited money and the wealthy dynasties, Michel told the figaro.fr Pin?on.Contrary to what the rumor is willing to believe, Lotto millionaires have reasonable desires. Overall, they are not fambleurs.

The first chapter of their book, "A catastrophe happy," the tone. For Pin?on, life really changes when the gain is at least 5 million euros. "The reflex, at least initially, is to keep the hidden gain," they write. Sandrine and Richard did not say otherwise …. Paradoxically, they agree to meet with journalists, but under a pseudonym. "There is a difficulty to keep the secret: silence, he is patron, is also frustrating, stress Pin?on Michel and Monique Pin?on-Charlot. Another problem: "Wealth can be learned, says Michel Pin?on. An heir, it is formed. Lotto millionaires have reflexes due to their origin. The Pin?on not met winners who "freaked out".There, but cases are rare as the French Games for which 99.9% are the big winners grow their bonanza.

Give a chance for everyone

How do they spend their money? According to the French, they begin to purchase their primary residence, they also invest in safe investments (life insurance) and put money aside for the education of children. "There's a sense of how generations of millionaires," welcomes does one service relationship of the French winners of the Games, to assist the winners when they discover a little (lot) their new wealth. "It's a bit early to tell, but there are people whose fortunes won the lottery will cross the bar of the 2nd generation", said Michel also Pin?on. Last year, 122 players have won the lotto more than one million euros.The record any class dates back to 2005: 75 million pocketed by a single person. "Lotto Magic is giving a chance for everyone because it is pure chance. It provides a gain that does not reward merit or effort, but not harm anyone, "said Michel Pin?on. He said for the humble people, is always happy, because money gives them satisfaction to which they aspired but which were inaccessible. "However, money does not provide absolute fullness, but it's much harder to be happy being poor!". Sandrine and Richard, at least, seem well in their new sneakers. "We were happy before winning the lottery is that the more" they insist both. This week, Sandrine has bought a new bag, Lancel model 1. 000. She knows she will soon have another.

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Companies with more than 1,000 employees had until Monday to begin, as desired by Xavier Darcos, negotiations on stress at work. If the goal is not yet fully achieved, more than half the 1,500 companies were expected Friday night reported their ongoing efforts, the ministry said.

This AD Labor Minister Xavier Darcos addressed to large companies last October, was then presented as a response to the many suicides among deplored the operator France Telecom. No financial penalties for non compliance with the injunction government (as is the case for the conclusion of older planes), but a threat may be equally effective for companies concerned with their image: that of being embossed on the website of the Ministry, which will publish the names of offending companies.To date, says the ministry is "only a few companies have already announced they would do nothing."

Green Light

By two weeks, a ranking of large companies based on their action against stress is presented by the Department of Labor free credit report and score . Management effectively leaves two more weeks to these companies to complete their records, so they do not close in a hurry. Those who have signed an agreement will be rewarded with a green light, those who have only begun to negotiate, an amber light, finally, those who have not started, a red light.

If the threat of a deterioration of their image is a powerful tool, it remains to ensure that measures taken do not just limited to a communication operation.One risk is that the National Association of Human Resources: "The companies will mainly effect of ad to respond to the department. Second, some have difficulty putting into practice their actions, because it takes time, "said John Angelo Allican.

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This time, the motorway companies have decided to act together. For the sake of transparency displayed all communicate January 27 increased their rates of pay. Vinci (Cofiroute, ASF, Arcour), Eiffage (APRR) and Abertis (Sanef) have agreed not to make their ads in a disorganized, they did since 2003 and, in the opinion of some, allowed them to help get the pill.

While the traffic light vehicles is increased again in 2009 (+3%), while trucks fell (- 13%), the rate increase should be moderate but not anecdotal. "Some investment fund," says the Association of French motorway companies (ASFA). The contracts with the State Plan, which set for several years the amount of these investments and allow motorway companies to raise their rates, will all be finalized by the end of the month.Currently, only the FSA has already signed.

Recovery Plan

"It's a fool's game. We were a fait accompli, indignant association 40 million motorists, which denounces overcharging and stresses that the Users Committee, created last September to better assess the pricing policy of highways, not still able to hold its first meeting, representatives of parliament were not designated time. "The meeting will finally take place this Thursday, January 14, but everything has already been decided," says the association. She said it should not be any higher because 70 to 85% of it corresponds to inflation. Gold prices fell in October 2008 to October 2009, a period used to calculate the index.

Another topic discussed during the implementation of the Recovery Plan and is believed buried, failing agreement between the highway and the state: the execution of works green (recovery of rainwater, noise barriers, protection biodiversity) against a one-year extension of the concession contracts. After to be opposed, two groups of three are starters now: Vinci and Sanef. Only Eiffage has not signed the "Green Future". The device, listed as supplementary budget should include an investment of one billion euros, against 1.5 billion expected by the government.

However, for the State fee is always blocking. In late 2008, the government had planned to increase by 200 million euros the amount of tax paid by the concessionaires in return for occupying public.

The highway there were fiercely opposed, threatening to increase tolls. The fee has not changed in 2009 (around 170 million euros). But the thorny issue would soon resurface.

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