Breaking News, World, U.S., Entertainment …

Nearly 5 million viewers in three weeks in France. The film "The Adventures of Tintin: Secret of the Unicorn" by Steven Spielberg a hit. Last week, it was maintained in the second position of the French box office phenomenon behind the "untouchables", with a total of 4,740,885 fans for 850 copies in distribution. This success also benefits comics payday loans with no fax. The adventures of the little reporter created by Hergé snapped up like hotcakes in bookstores. "Our sales have doubled in French in October, about 200,000 albums, 100,000 against an average for a good month," says one by Casterman, the publisher of Tintin history that holds worldwide rights.

Filed under: economic, online, people, publications, top news by admin Comments Off

In the first five days of strike by cabin crew of Air France, the company is organized to provide as announced 80% of its flights. The company has temporarily restricted on Saturday morning to 100 passengers the ability of its medium-haul flights Orly. Consequence: passengers can wait a little and minor delays can be saved.

This management method was chosen to avoid having to put down passengers for lack of a sufficient number of hostesses and stewards. "It blocks the flights a minimum. Is completed according to the presentation of the crews as and when. But we have managed so far to complete the flight and make them go as planned, "says the director of Air France at Orly, George Daher. A strategy that annoys some customers. "We were placed on a waiting list by explaining that there was not enough staff.

Filed under: Uncategorized, finance, international, money, technology by admin Comments Off

In recent years, Dexia has moved from an institution offering a regular dividend to a penny stock that ruined its shareholders. The action is worth more than 1.06 euro on Tuesday, down 94% in five years. Until 2010, Dexia was part of the CAC 40 after entering in 1999. We now know the epilogue of a story that could be summed up in three parts: the time of ambitions, a last-minute rescue and collapse.

In 1996, the marriage of Credit Local de France and Credit Communal de Belgique is celebrated with great pomp. It gives birth to a bank player in the financing of local authorities in both France and Belgium. Rather than focus on this specialty, the leaders will demonstrate a burning ambition in the years that follow. The acquisitions will increase. Nothing is too good for executives who leave the checkbook repeatedly.No matter if capital does not follow. Access to liquidity seems unlimited and redemptions can be easily financed. Dexia is the time highly rated by rating agencies.

In 1997, Dexia is a 40% stake in the Italian specialist of financing local authorities. Units held will be brought to 60% in 1998. Especially in 2000, Dexia made two acquisitions that will prove disastrous. The property bought FSA in the United States for 2.7 billion euros. This company called credit enhancer has become over the years one of the insurance behemoth of financial securities. Moreover, again in 2000, Dexia bought Bank Labouchere. A few years later, a scandal will cost several hundred billion euros to Dexia. It turns out that customers of Labouchere bought shares on credit, the establishment of incentive. The crash of 2001-2002 and ruined.

Payment of a dividend is known to be regular and copious

At the time, financial analysts and portfolio managers criticize little Dexia. The bank made steady progress in earnings per share. It pays a dividend is known to be regular and plentiful. Many individual shareholders, entered the capital of Crédit Local in 1991 and have remained loyal to Dexia. No one really makes the fact that the risk profile of the bank has been completely changed.

In 2004-2005, Dexia is the subject of many rumors of marriage. Pierre Richard, the head of the bank, Dexia is that merged with the Italian Sanpaolo. He turned down its directors and officers in Italy. In September 2005, leaders refuse to merge with Dexia Fortis. Rumors of an alliance with Societe Generale also circulating, but nothing concrete emerges from the noise corridor.At the end of 2005, the action is close to 20 euros.

In 2006, is welcomed. It enables Dexia to enter the promising market of the local retail banking. In late April 2007, Dexia's most button above historical 24.51 euros.

Its subsidiary FSA is vulnerable

When the subprime crisis broke, the bank is discreet. She knows that its subsidiary FSA is vulnerable. The leaders tried to reassure but the 2008 financial crisis and the bankruptcy of Lehman Brothers will put the institution to its knees. In autumn 2008, the CDC, the State and the Belgian regions implement a capital increase of EUR 6.4 billion. In addition, the Belgian, French and Luxembourg governments were forced to implement security to enable the bank to borrow again.

Despite reduction measures and restructuring the balance sheet, and his teams have not managed to recover the bank.The task was daunting given a totally unbalanced balance sheet. The latest figures, Dexia had 6.9 billion euros of capital to 517 billion euros of assets. Shareholders are ruined and no one said that the action could still have value in the coming months. As for local governments, many of them are dissatisfied because the Dexia led to raise loans in Swiss francs to take advantage of the difference in interest rates. Only the value of the Swiss franc has soared, and the weight of loans proved unbearable for many communities.

ALSO READ:

"SPECIAL – Depression: Banks in turmoil

Filed under: business, economy, online, people, resources by admin Comments Off

Twenty-four years after the first world held in New Zealand, rugby world last week signed a homecoming, celebrating the opening ceremony of the 7th edition of the World Cup. Certainly, in the meantime, the world of rugby has changed profoundly, from many countries in an amateur status to a professional model. However, the edition that has just begun in the land of long white cloud, earth history of the discipline, will not be remembered in terms of costs and economic benefits. New Zealand, a small country of 4.2 million inhabitants, has in fact not the same financial resources than previous organizers. Plunged into an economic crisis, it was also affected in February by an earthquake that devastated the city and the stage of Christchurch, the second largest city.What add to the bill related to the organization, and limit the financial benefits expected from the competition.

More limited carrying capacity

Estimates of the study Mastercard "Report on the economic impact of Rugby World: 2011 World Cup," the economic activity generated by the event is expected to reach $ 654 million (479 million), 18 % less than the 2007 edition in France. Main reason: the carrying capacity, especially in the stages are not the same. In New Zealand, the largest chamber (the Eden Park in Auckland) can accommodate 60,000 rugby fans. This figure drops to 40,000 for the second largest stadium. In total, only five of the twelve speakers in the competition beyond the 30,000 seats. In France in 2007, all exceeded the 32,000 seats.Enough to blow up the number of tickets sold in the Hexagon at 2.25 million, against 1.35 million sold in 2011 according to MasterCard. Next visitors, a double standard as well, since 95,000 fans are expected in the country of Blacks against more than 325,000 in 2007.

Overall, the economic impact of the sixth edition of Rugby World Cup in 2007 was estimated at 540 million euros, of which over 85% from the tourism (spending by spectators, lodging, drinks, souvenirs …). A record that does not beat New Zealand in terms of direct benefits. It remains to know the net financial gain from the competition.Those of this edition will not be known precisely until a few weeks, but we know already that they will be affected by 550 million euros spent on building or renovating stadiums, where France had limited its expenses (most stadiums were renovated for the World Cup soccer in 1998). The catastrophe of Christchurch should also weigh on the accounts. In 2007, net income of the competition had reached about 113 million euros, while New Zealand could lose money on this event.

The hearing will be at the rendezvous

The only consolation for the organizers of New Zealand against the semi-economic success: the increasing popularity of the rugby world should not be questioned. About 4 billion viewers (cumulative audience) should follow the matches of the competition.Almost as much as 4 years ago (4.2 billion according to URS Finance and Economics and the International Rugby Board). More than 220 million euros in marketing and TV rights for the event have been sold by the IRB, against only 190 million for the French edition of 2007. The fact is that New Zealand will not see the color of money, revenue from TV rights and advertising contracts falling directly into the pocket of the Board, to fund the global development of rugby.

ALSO READ:

"Japan makes eyes to foreign rugby players

"Rights TV: TF1 shares the Rugby World Cup

"Rugby: Racing-Metro sells the name of the stadium

Filed under: business, events, finance, international, world by admin Comments Off

Reform of the ISF, Act I. Passed last spring, the overhaul of the tax on capital is available in two years, 2011 and 2012. Because of these changes, the deadline for the declaration and payment of ISF is also exceptionally attached to September 30 this year.

From 2011, households with between 800,000 and 1,310,000 euros of assets are exempt from wealth tax. These homes are thus 300 000 received no tax declaration form. However, some tax advice to households close to the threshold of 1.3 million to make a statement (see interview below). In addition, taxpayers with between 1.3 and 3 million of assets this year have a simplification of formalities in their statement.

In 2011, the old scale of the ISF continues to apply. This is a scale that works in phases, with six tax rates.The first tranche that between 800,000 and 1.3 million euros of assets, is still active for those households that remain subject to the ISF is to say that over 1.3 million property. Thus, a taxpayer with a wealth of 3 million will pay a wealth tax of 16,555 euros (0.55% share of its assets from 0.8 to 1.31 million, 0.75% between 1.31 and 2 , 57% between 1 million and 3 million and 2.57).

The reform of the TFR is consistent with the removal of the tax shield. However, because the mechanism of the shield, which is shifted in time, taxpayers will still be entitled to a shield in 2011 and 2012 respectively on their overpaid tax in 2011 and 2010. The shield does not really disappear in 2013.

But some practical rules are changing.Until September 30, recipients of the shield can either request a refund check to the treasury, or less money on ISF, local taxes or payroll taxes on the amount of shield.

New scale in 2012

As of September 30, one lane remains: the allocation of the shield on the bill of ISF. One way to avoid the controversy of previous years on the checks sent to taxpayers' net worth …

Finally, indebted to the ISF will be eligible for the last time this year the cap of the ISF (wealth tax, social security contributions and income tax can not exceed 85% of revenues). In 2012, the cap will no longer exist.

It is also that next year will apply the new scale of ISF. The assets of between 1.3 and 3 million will be taxed at 0.25% and beyond 3 million at 0.5%. But the tax will no longer increments.

2 million households with wealth pay 5000 euros to ISF (2,000,000 multiplied by 0.25%) and with 4 million euros of assets 20 000 EWB (4,000,000 multiplied by 0.5%). Next year, households with between 1.3 and 3 million of assets no longer meet reporting ISF: they will show their heritage in a special box on their tax return. Only taxpayers with more than 3 million of goods will continue to make their declaration of wealth tax, to make the June 15, 2012.

ALSO READ:

"Completing the declaration of ISF

"The surprises of the reform of the ISF

Filed under: economics, economy, home, people, world by admin Comments Off

Christine Lagarde calls on rich countries to take action to avoid the risk of recession. "Those who have the fiscal space should support growth," said she, thinking probably in the United States, provided they undertake to reduce their deficits also sustainable in the medium and long term.

But the executive director of the International Monetary Fund (IMF) who received Tuesday in his new office in Washington a few journalists, mainly discussed the situation in Europe. "The time for action, collective action, bold action and immediate action" said the former French Minister. "My role is to ensure that this call to action is heard," an implicit reference to the frustration of many in the IMF, but also in the markets, given the way in which European countries are reluctant to take unpopular measures to save the euro."I can not think that governments do not share my opinion," she says diplomatically.

His call to action includes both the need for countries like Greece and Italy to adopt measures for compelling the markets and stick to it. For some it is better to collect such tax revenues, for others to reform the state to better utilize resources. Announced and voting reform is necessary, but everything is in "implementation, implementation, implementation, she repeated three times, it is only that way that market confidence can return "

Greek sacrifices

But his call is also likely that Germany seems reluctant on the need to persevere in the implementation of plans designed to aid in Athens by the European Union, the ECB and the IMF.The context of the commentary Christine Lagarde, namely the conversation expected in the coming hours between Angela Merkel, Nicolas Sarkozy and George Papandreou, is crucial. The IMF wants surely as German pressure on Greece to be productive, so that the deficit reduction commitments are kept. But the IMF also wants the Greek sacrifices and new adjustments decided by George Papandreou will be rewarded with the continued support of the first countries in the euro zone to avoid a default that would have significant systemic implications.

On the controversial issue of the urgent need to increase the equity of European banks, Christine Lagarde has wanted to avoid adding fuel to the fire. Distrust of markets that precipitated sharp falls in the prices of banks reflects a serious crisis of confidence."We are close to an open banking crisis" such as Judge Mohamed El-Erian, head of PIMCO, one of the largest investment funds in the world.

Calling Christine Lagarde late August to urgent recapitalization of banks, if necessary with public funds, was poorly received by the European authorities. "I do not back down. But I return to the reasons why the IMF thinks so. We have two objectives: growth and employment. Or to feed growth and create jobs, we need credit … it is necessary that banks' balance sheets are healthy … do not fear the crisis of sovereign debt will result in a too fast and that banks limit their lending to the economy, "said the CEO. This is also now late in the day that the institution will release its persectives the global economy.

Meanwhile, she prepares the next week the annual meetings of IMF member countries and the World Bank. The former French Minister of Economy said "not to have changed since moving to the IMF … but I changed my perspective … I see things differently. Since this post I see more interconnections between countries and I see better what countries have an interest to act collectively in the interest of the economy "rather than strictly individual interest.

ALSO READ:

"The world at the bedside of the euro

"SPECIAL – crisis: the fear of debt

Filed under: economics, finance, news, resources, top news by admin Comments Off

American financier Guy Wyser-Pratte does not disarm in the folder Lagardère. Almost eighteen months after the general meeting of 27 April 2010 during which the two resolutions he had proposed were rejected at 76% and 78%, Guy Wyser-Pratte against attack. Wednesday, August 3, he sent a letter to the Financial Markets Authority (AMF), in which he contested the vote count at the meeting of shareholders of the group.

The American activist took some time to gather evidence to support its contention. Today, it provides the AMF documents showing that the ten funds managed by AllianceBernstein (a subsidiary of AXA Group), a leading shareholder group Lagardere with 10% of the shares, would have voted for he had presented two resolutions.

For investigation

A resolution was to appoint him to the Supervisory Board of Lagardère.Resolution B was to amend the prerogatives of-stock by requesting that the general partners do not vote more consistently before the sponsors. Guy Wyser-Pratte also produces documents from two firms specializing in proxy voting investors (ISS and Broadridge). They would have gathered the voices of various U.S. institutional investors in favor of two resolutions A and B. Finally, he instructed the firm McKenzie to a total of U.S. investors vote in favor.

"In total, we can demonstrate that counting only the votes of shareholders represented by American myself, AllianceBernstein, Broadbridge and ISS, my application to the supervisory board received 44% of the vote of the quorum present at the meeting. In addition, it is likely that other European shareholders have also voted in my favor.I therefore request the AMF to conduct an investigation to understand the origin of the discrepancy between the results of the AG and the counting done by us, "said Guy Wyser-Pratte no faxing 1 hour payday loans. In 2010, the AMF had already audited BNP Paribas, which had been in charge of counting votes at the annual meeting of shareholders.

Returning to the issue today, Guy Wyser-Pratte hopes remobilize American and European shareholders for the next general meeting of 2012.

In March 2010, Guy Wyser-Pratte had burst into the capital of Lagardère by buying up 0.53% of the shares. He then publicly criticized the governance of the group protesting against the existence of a partnership limited by shares and had criticized the lack of strategy of management.The tone was mounted and Philippe Camus, a member of the sponsorship of the Lagardère group, the AMF had seized a few days before the general meeting, marveling at the distortion between saber rattling by Guy Wyser-Pratte and the reality of the impact of the two draft resolutions.

Strategy of focusing

Arnaud Lagardère had benefited from the rostrum of the General Assembly to address the critical Guy Wyser-Pratte. Some time after the general meeting, it had sold substantially all of its shares, pocketing a nice way to gain. Today, he is left only about 100,000 titles.

The tension had fallen, but after this episode heated, the Lagardère Group has implemented a strategy of refocusing on its core businesses – publishing, distribution, media and sport – and the country where he holds a position leadership.Suddenly, the group undertook to sell all of its minority, especially in Canal + France, the Amaury group and the group Marie-Claire. For now, these sales have stalled. However, Lagardère Active has led to the charge of selling most of its international press center to the American group Hearst, to 654 million euros. This represents a hundred titles in a dozen countries.

Filed under: events, opinions, publications, special, top news by admin Comments Off

The richest of Spaniards loose the reins of his empire. Amancio Ortega, founder of the Zara stores, transfers Tuesday's CEO to his current vice-president, Pablo Isla. At 75, Ortega also embodies a decision announced six months ago with a simple letter to staff. He leaves to his successor an empire, Inditex, built in thirty-six out of nothing. A juggernaut of ready-to-wear boutiques strong 5000 installed in 77 countries, employing over 100,000 people, realizing 12.5 billion euro of revenue.

For the Spanish, Amancio Ortega is the archetype of the autodidact. A mismo hombre hecho a if. The son of a railroad fortune became the seventh world.The teenager who was scraping by delivering luxury liners became a billionaire by making clothes … cheap!

Born in the province of Leon in 1936, at the beginning of the Spanish Civil War, the young Amancio has experienced the dark years of the postwar period. In his authorized biography, it evokes a memory which has profoundly affected. When he was 12, he intends to apologize to the shopkeeper his mother not being able to give him credit. Amancio then promises to never know hunger. He left school to accept a job as a deliveryman in a store of men's shirts in La Coruna.

A workhorse

Ortega never left textiles. He designed his first model and offers its employers. He was then assisted by his sister, brother, sister-and that would become his wife Rosalia Mera.The first article is a dressing gown, sold – already! – Half the price than the competition … Little by little, the small group up a workshop and a shop, Goa in 1963.

In 1975, was born in La Coruña the first Zara store. Then everything is accelerating proliferation of shops in the 1970s, internationalization in the years 1980 and 1990, IPO in 2001, opening in 2010 of the online store payday advance… Each time, Ortega is in charge. His method: "I always thought that to be successful, we needed each day to the organization upside down."

A workhorse in shirtsleeves and with a revolutionary grounded. This is at least the image he projects. For the richest man in Spain is also one of the most discreet.It was not until 1998 and agrees that Ortega is disseminated a picture of him! He shuns interviews like the plague. We know that the billionaire just enjoy the simple pleasures, such as scrambled eggs with chorizo ​​and potatoes …

The discretion surrounding his private life also. Twice married, Ortega is the father of three children. His first wife Rosalia Mera, is co-founder of Inditex and occupies the 258th place on the Forbes list of richest people in the world. His current wife, Flora Pérez, was the employee of a Zara store, she became one of his key advisers.She gave him a daughter and, say, a possible heir, Marta Ortega.

The captain, however, given the helm to his right arm, Pablo Isla, who has already indicated he intended to follow the course: "2011 will be another year of significant investments to grow the company and create jobs." The conquest of new markets, particularly in Asia, and the acceleration of Internet sales are part of its priorities.

Marta Ortega, too, has been heavily involved in the family firm. However, at age 27, she was probably not ready to take the helm. Not yet, some analysts nuance. The war chest, at least, it deserves. Amancio Inditex owns 60%, through the foundation Amancio Ortega. And, while he yielded to Isla management of the company, Ortega has offered his daughter as President of the foundation.In Madrid and La Coruna, speculation is rife about the future and ambitions of each of the supposed heirs.

Filed under: features, international, special, technology, top news by admin Comments Off

Publicis, the French media group, acquired 51% of the New York agency Big Fuel, specialized in communication on social networks. The agreement gives the public an opportunity to increase its stake to 100% from 2014, said the French communications giant. Big Fuel will join other agencies digital (Digitas, Razorfish …) Publicis in VivaKi.

Armed with 170 employees, Big Fuel shares many customers with Publicis, including General Motors, McDonald's, Microsoft or T-Mobile. The agency has grown 500% in 2010 and generated $ 10 million in sales. In 2011, its turnover is expected to reach $ 30 million.

For several months, multiple audiences, he, acquisitions, aiming to take 35% of its revenue from digital by 2013.He has already approached 30%, since the purchase in May, the U.S. interactive marketing group Rosetta.

According to research firm eMarketer, worldwide spending on social networks will reach nearly $ 6 billion this year, with $ 3.1 billion expected in the United States and 2.9 billion in the world.

ALSO READ:

"Brazil: a fourth acquisition for Publicis

"Publicis Aegis monitors the file

"Publicis acquires Swiss Agency

"Publicis is doubling in China

Filed under: economics, events, news, special, world by admin Comments Off

Click the preview to enlarge the graphic.

This will be the next revolution Facebook. With nearly 750 million members, the social network is already in the shade to the e-mail to photo sharing sites like Flickr and Google. Today, Facebook is opening a new front, which could result in a "blitzkrieg" on the virtual economy. His weapon: a virtual currency, the Facebook Credits, poised to become the electronic purse of any user.

Launched quietly a year ago and a half, Facebook Credits are required on the site since July 1. Now any game publisher or service on Facebook to provide the currency of the site, in addition to its own virtual currency, like the FarmCash well known to fans of the game Farmville.Credits can be bought on the Facebook site with a card, a Paypal account, payment systems such as mobile Zong, even – as in the U.S. – via physical gift cards sold in supermarkets.

Major industrial

Facebook Credits against such exchange of virtual goods in games like Farmville, PyramidZ and Empires & Allies, or, as suggested by the film studio Warner, against VOD movies. In the U.S., fans of télécrochets as "X-Factor" and "American Idol" can be used to vote for their preferred candidates, replacing the virtual currency of Facebook to Premium SMS.Eventually, all things virtual – an mp3 download, buy a newspaper article online, a coupon obtained by locating in a shop with his mobile telephone minutes of … on Skype – could Facebook Credits currencies.

"The use of Facebook Credits is required, but not exclusive," nuance Codorniou Julien, director of partnerships Facebook France. "This includes the game, but the media as Warner Bros, music, video, box office. This will ensure the liquidity of the currency on all services, "explains Julien Codorniou.Specifically, "consumers will increasingly lead the Facebook FarmCash Credits and less" analysis Michaël Amar, CEO and cofounder of Ifeelgoods, a U.S. company that provides e-merchants to offer Facebook in place of Credits vouchers to their customers.

For Facebook, the Credits are an industrial issue. In fact, each editor service that offers its users to pay Facebook Credits reverse 30% of the value of the transaction of the social network. For example, on a rented movie for 30 Credits Facebook, or 3 dollars, by a user, Warner will donate 90 cents to Facebook. These commissions will quickly become an important part of revenue from Facebook. "We want to go as soon as possible and as widely as possible to diversify our revenue," said Julien Codorniou.Already, sales are "significant" for Facebook, which still generates most of its revenue through advertising. To get an idea, just look at the business volume of Zynga, a major partner of Facebook and subject, like others, to pay the 30% commission, the publisher has made 850 million euros sales in 2010. Its revenues are expected to reach $ 1.5 billion in 2011.

Social games

It's not for nothing that Mark Zuckerberg, CEO and cofounder of Facebook, has made the article social game publishers during his visit to Paris in late May for the e-G8: "The game publishers have found that people preferred to play where their friends are Zynga and imported the social dimension in the game Why gaming is gone first? Because it is a very social experience at first.I think that other media will follow as music, newspapers, books, "he said.

For now, Facebook provides not want to conquer the physical properties of electronic commerce with its virtual currency. In shops in Facebook, the social network rather "Facebook experience on third party sites." "In the coming months will spread features such as" Shop with friends "(buy with friends), Julien Codorniou details. This is not to create shops on Facebook, but to bring its online store friends of the people. "These purchases on the site of a merchant with his Facebook identity will feed the basis of information available to the social network members, and facilitate its advertising sales.

ALSO READ:

"Social networks: Facebook rejoinder to Google

Filed under: economic, economics, news, technology, top news by admin Comments Off