International & World Report

After several years of strong increases, rents have remained stable in 2009, according to the Center Clamor. "For the first time since the creation of this observatory in 1998, even since the crisis of the early 1990s as rents stagnate," says Michel Mouillart at the University of Paris-X and the host database Clamor (Know the rents and market analysis on urban and rural), fueled by 25 managers of rental parks. Last year, rents for new leases were symbolically rose 0.1% on average compared to 2008. This quasi-stagnation contrasts with the increases of recent years (2% in 2007, +1.5% in 2008). The comparison is even more significant with the average annual increase between 1998 and 2010: + 3% on average. But rising unemployment and falling purchasing power of households slowed."The mobility of households has been greatly reduced. It is the lowest since 1998, "said Observatory best payday advance .

Increase in the average city

This trend continues into early this year. However, like last year, the same time, rents of those who relocate rose 0.6% on average. But new phenomenon, most major cities have their rents reduced while those of medium-sized cities or resist progress. Major declines, there are Neuilly sur Seine (-6.4%), Nancy (-4.5%), Grenoble (-3.5%), Strasbourg (-3.1%), Rennes (-2, 5%), Metz (-1.4%), Bordeaux (-1.2%), Lille (-1.1%), Nantes (-1.0%), Marseille and Toulouse (-0.6%) and even Paris (-0.8%). The most significant increases occur in Clermont-Ferrand and Versailles (5.9%), Courbevoie (Hauts-de-Seine, +5.3%) and Draguignan (+5.2%)."In all of 2010, rents should remain stable," explains Michel Mouillart. "Like last year, rents should then fall to spring and again later in the year."

Michel Barnier has arrived in London earlier this week, a white flag in hand. The new European Commissioner for Internal Market had to reassure the financial capital of Europe. Firstly because he is French, therefore, suspected to be a regulator born. Secondly, because his appointment had been made by Paris as a victory over the English.

In twenty-four hours, Michel Barnier has met Prime Minister Gordon Brown, Chancellor Alistair Darling, the president of the Bank of England, Mervyn King. And the lords of the City, big bankers and hedge funds, investment funds so maligned for their role in the crisis.The Commissioner also gave an interview to the influential Financial Times.

"I'm not horrible, but I'm not a nice cat (" I'm not horrible, but I am not a pussycat either "in the original English version)," slipped the European Commissioner for British journalists . Beyond the formula, the French assured the City that he wanted "to be a commissioner for a more unified market, not less." But "the market must serve the economy, not vice versa," he said in his speech to leaders of the City.

The visit of Michel Barnier occurs after the Commission issued a proposal for a hedge fund sector (Directive on alternative investment funds, known MWIA) payday loans ."Investment funds are an important part of the financial system," he said, representing over 50% of daily trade in the market share. "It is vital that they are subject to regulation and adequate supervision," he added.

"Red lines"

According to the Financial Times, the leaders of investment funds have emerged reassured of their encounter with "Frenchy." "They appreciated the Commissioner's apparent willingness to try to understand their concerns," reported the Economic Daily. Adding that the City leaders have warned that British negotiators should be careful to protect certain "red lines" that Brussels should not be crossed.

Starting with the authorization could be given to non-European funds to come and sell their services within the EU."Have European funds to meet the high standards of transparency, without requiring the same from those located outside the EU would not be appropriate," Michel Barnier acknowledged. Funding fear ultimately, the Financial Times that the principle of market liberalization, to which they belong, or poorly implemented.

After the large deposits, Emmaus starts now in the "bric-a-brac neighborhood. Based in Paris at Centquatre (the center of artistic creation of 104 rue d'Aubervilliers, XIX), the first such shop opened this week. Nine others should follow in the coming three years after an agreement signed between Emmaus and the City of Paris. In these knick-knacks, buyers will always find so many clothes, furniture or dishes at any price, but small retail space will be reduced (200 to 300 m2) and * opening hours extended to better integrate neighborhood life.

So far, the association only had a Paris address, located at 80 boulevard Jourdan (XIV). For two years, more than 3,000 people flock every Saturday on the 1,000 m2 warehouse for a few hours to exhaust the stock of products recovered during the week.A success that led Emmaus to look for other sites.

It must be said that environmental awareness has boosted donations of used goods while the economic crisis has increased the number of customers looking for bargains. Across the country, 85,000 tonnes of textiles, 65,000 tonnes of furniture and 20,000 tonnes of electrical equipment have been collected by Emmaus in 2008. The resale of these products used generated 148 million euros in 2008 against 142 million in 2007. The 2009 figures should be even better.

Originality of the Parisian experience: the addresses are managed by the association Emmaus Challenge, an offshoot of Emmaus, which uses reintegration of employees and not members of the community."Large urban area offer plenty of room in emergency accommodation, but not many opportunities for employment," says Charles-Edouard Vincent, president of Emmaus Challenge. With its bric-a-brac, it currently employs 80 employees in rehabilitation and aims eventually to bar 300. An experience that is limited for now to the capital which has the largest deposits of products to be collected, and the broader population in need.

Rest now, with the assistance of the City of Paris, to find the space available to open additional stores. And also to find an alternative store to the flagship Boulevard Jourdan. This temporary space is indeed close its doors by the end of September.

* Bric-a-brac Centquatre, 104, rue d'Aubervilliers (XIX). Open Wednesday to Saturday from 15h to 18h. Receiving gifts: Tuesdays from 15h to 18h and 11h to 18h Wednesday through Saturday.Ref.: Www.emmausdefi.org or www.104.fr, under "Shops".

Forthe taxpayers with assets hidden abroad, it is too late to repent. The cell regulation introduced by the end of April Bercy for those wishing to come into line with the Inland Revenue closed Thursday at 18 hours. Reportedly, a few days before the deadline, it had treated more than 3 000 applications. On December 9, Eric Woerth, budget minister, spoke of 1 400 cases to bring back 500 million euros into state coffers. "Since the case of HSBC list started, we have achieved records, telling a lawyer a few days ago.

Still, the results obtained by the French in cell eight months paled in comparison with performance in Italy.The tax is to regulate trans 95 billion in three months! The state has recovered 5 billion of revenue, and the measure has been extended.

But in Italy, it was simply an amnesty: 5% tax on amounts settled, period. Not so in France, where the tax was due to pay (three years for income tax six years for the ISF and inheritance). The French Treasury not negotiating that penalties and interest.

20% of capital for tax

"It was interesting when he had inherited more than six years of hidden assets abroad and that you did not then fed into account. The additional tax due is three years and six IR EWB, was increased by 15% at maximum, "explains Valérie Harnois-Mussard, a lawyer with Fidal. The taxpayer could get away with leaving 20% of its capital tax.The regulation was much more expensive if the death was within the last six years, because of inheritance. And the tax rebate did nothing fabulous for those who had actively concealed funds. Another obstacle: the documents to provide the tax authorities were numerous.

This relative lack of mercy has always been assumed by Eric Woerth, who would not hear of amnesty. But his all-out offensive against fraudsters – with, culminating in its Communication on a list held by the Treasury, 3 000 people with accounts in Switzerland – has not helped to create a serene atmosphere. Households were afraid of having to undergo inspections in fiscal 2010 and subsequent years if they showed up in the cell.Some taxpayers have hexagonal even made a more radical choice: to settle permanently in Switzerland.

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The Committee approved the December 8 and 9 "advisory for a package of proposals to strengthen regulation of capital and liquidity with the objective of strengthening the banking sector," he said in a statement.

These measures will "respond to the lessons of the crisis in the regulation, supervision and risk management of banks," said the committee.

The proposals for capital and liquidity will strengthen the banks and create a financial banking system and healthier, "said the chairman, Nout Wellink, who is also president of the Dutch Central Bank.

It is, however, that a "consultation document" and not a final text, recalled Wednesday a spokesman of the Bank for International Settlements (BIS) in Basel, including hosting meetings.

The 27 "wise men" had already announced in early July an increase of Basel II, introduced in 2004 and requiring banks with a capital ratio weighted overall risk incurred by financial institutions.

Avoiding a new "Lehman Brothers"

To avoid the disastrous consequences of a new financial crisis including the collapse of financial institutions of systemic importance, as the bankruptcy of U.S. bank Lehman Brothers in September 2008, the Basel Committee grilled for several months on a building rules governing the banking sector.

In his new proposals, the committee wants to strengthen the quality and transparency of the core capital Tier 1 (core capital of a bank), allowing institutions to better absorb potential losses.

He also wants to improve the level of capital to protect facilities including activities on derivatives and repos (repos).

Debt ratio

Banks should also establish a ratio of debt to contain their debt, financial buffers to cope with difficult situations and a minimum level of liquidity.

The impact of these measures on the sector should be analyzed in the first half of 2010 with the aim to introduce by the end of 2012.

The committee, founded in 1974 and composed of the governors of 27 central banks worldwide, "will ensure that the implementation of new standards is consistent with the financial market stability and sustainable economic growth," assured Nout Wellink.

Central bankers also want to introduce a period of tolerance and accompanying measures "for a period sufficiently long to allow a smooth transition to new standards.

The agency Fitch has not taken into account what is doing the new government. Photo credits: AFP

In addition, the situation in France deteriorated since 2008, when she pointed again at 160 th place. It must be said that 20 countries have lowered their corporate tax this year. "France has made efforts, including the tax-credit research. But this device, for some SMEs, is not included in the study. And in the future, reform of business tax should have a positive effect 'grade Philippe Durand, a lawyer at Landwell (the law firm of PWC).

The tax burden is not the only criterion taken into account

Above all, the tax burden is not the only criterion taken into account in the study. A rightly so because the number one country for low taxes is East Timor, little known for its overall competitiveness.To measure the overall tax appeal, the study also includes the time spent by businesses to report and pay their taxes and the number of payments. But on these two points, France is ranked (40th in the first case, the 9th in the second). She even won ranks.

This is the result of political modernization efforts for several years with the proliferation of TV-declarations via the Internet and creating a single direction at Bercy managing the assessment and collection of taxes (the General Directorate of Public Finance) . Through this effort, France back in the overall attractiveness of the tax from the 66 th place in 2008 to 59th place in 2009.

The PC market is expected to avoid breakage. According to research firm Gartner, PC sales should grow 2.8% this year to 289.9 million units, including 162 million laptops, and 29 million netbooks (or Netbooks). Until now, the firm had already revised upwards its forecast, but each time it expected a contraction in sales. In September, he estimated that they would shrink by 2% over the year, when they had risen from 10.9% in 2008. "Sales in the third quarter was much stronger than expected," so that "we should have a positive growth this year, said analyst George Shiffler, quoted in the press.

For the full year, the increase will be paid to arm's length by notebook PCs, with sales expected to grow by 15.4%. These desktop computers will however fall 9%.The release of Windows 7, the latest operating system from Microsoft, will have limited impact on the sales season, says the firm.

But it was really in 2010 that the market will reconnect with a double-digit growth. Sales should rise and 336.6 million PCs in total, an increase of 12.6 compared to 2009. Again, the laptops will carve the most beautiful piece of the pie, with sales approaching 200 million units.

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