The debt crisis in the euro area still focus the concerns of the international markets. Yesterday, the rates at which borrow Italy and Spain have reached dangerous levels. In the process, the major European markets ended down.

The BoJ kept its policy rate

The Central Bank of Japan (BoJ) kept its key interest rate Wednesday on a daily basis in the range of 0.0 to 0.1%.Investors are, in addition, the surge in profits after the previous day, which saw such a barrel of light crude earn $ 1.23.

The TTF, as amended Brussels, aims to hit 85% of financial transactions. It will be collected from banks, stock exchanges and financial services providers. Individuals and businesses will be affected only indirectly.Bank loans and mortgages, foreign exchange, insurance contracts and other financial products for individuals not included in the base, according to the draft directive obtained by Le Figaro.

The idea of ​​the TTF is in the air since the beginning of the crisis. On the need to find new revenue for the budget adds a political justification: to charge the world at least part of the cost of public rescue operations conducted since the fall of 2008. The European Commission amounted to 4.6 trillion euros in three States' commitments to the financial sector.

Obama opposed this idea

The idea, for it may seem attractive to the taxpayer, has struggled to take off. G20, it was rejected by Barack Obama and emerging powers short term personal loan.In Europe, precisely because of global consensus, it comes up against the reluctance of countries like Sweden or the Netherlands, who fear that the EU put a bullet in the foot. Only Nicolas Sarkozy and Angela Merkel continues to bring the European project at arm's length. But the idea made its way to reduce the application to the smaller group of seventeen countries of the euro.

Parliament and the Council, where each state has a veto tax will decide the fate of the project in the coming months. For now, it is to revive the dice before the G20 summit in Cannes on November 3 and 4.The Commission expects the EU to play a pioneering role on the TTF as before on climate and other economic powers will eventually follow suit.

In this act of faith, there is still a loophole: the determined opposition of the British Treasury and the hostility of the City, which Europe generates more than half of its financial transactions. Tax in Europe "has no meaning if the markets scamper overnight to New York or Singapore, 'says there is little George Osborne, Chancellor of the Exchequer.

The Brussels experts recognize the danger of "offshoring" noting in their expected "extreme mobility of most financial transactions." The Commission responds by imposing low, but also by raking off: a transaction conducted in Asia or America would be taxable, since it would be conducted by a firm established in the EU.

After the removal last week of raising VAT on theme parks, the UMP president of the National Assembly, Bernard Accoyer, pleaded Tuesday morning in an interview with Les Echos, a lower threshold for taxation of high income. Those reporting more than 250,000 euros would be affected, while the government's plan was initially not as income of more than 500,000 euros.

"It's still very high level. I think this discussion will be debated in Parliament. I am at least favorable, "said Bernard Accoyer. A proposal that the government seems willing to consider instant credit report.Europe 1 this morning, the Minister of Economy, Baroin, said here that "it will be discussed in the budget for next year. We made a proposal, the debate is open. " This measure, however, should be discussed in October.

Remove the Consolidated Global Profit

The government and members of the majority, however, have already agreed on Monday to restore the deduction on real estate gains after 30 years of detention of property, excluding primary residence. To fund this measure, the budget minister, Valérie Pécresse, expressed on Tuesday on Canal + ready to tighten the tax on luxury hotels and large groups.

"Whatever the arrangements, relaxations or changes you make to a particular measure, it will have to be fully compensated," recalled the minister.

It also provides a ratio of debt to EBITDA of 2.1 to 2.3 (two in the first half) and a dividend at least equal to that paid for 2010. EDF will also establish an investment program, the amount reach 13 to 15 billion euros by 2015.Perspectives of "profitable growth" long overdue and should bolster the market.

Side results, the net half the group up 54% year on year to 2.6 billion euros, also benefits from a favorable comparison effect since EDF had spent in its 2010 accounts a provision of a billion euros to cover the risk of impairment of its assets in the United States. Analysts had forecast a net profit slightly below the 2.429 billion euros.

"The first half of 2011 is marked in a troubled context, a strong operational performance, particularly related to the increase in nuclear generation in France and the UK", says Group CEO Henri Proglio, quoted in the statement.

Nuclear generation raised

In an interview with Les Echos, Proglio stresses that nuclear generation in France has a record in the first half. It amounted to 218.4 terawatt hours (TWh), offsetting the decline of 7.6 TWh of hydropower production group in France, which has suffered water conditions "deteriorated". As a result, the group raised its target and has produced in France from 411 to 418 TWh, against 408 to 415 before. "The group has investments necessary for the proper operation of power plants, increasing capacity and extending their service life beyond 40 years, and incorporate lessons learned related to Fukushima," said Henri Proglio.

The group that had fallen in 2009 to its lowest level of production for 10 years as a result of breakdowns and strikes, had already made an investment effort in 2010.Nearly two billion euros were spent on ten-year inspections, the program of replacement of heavy components and other investments related to plant operations, against 1.5 billion euros the previous year. This amount is expected to reach 3.4 and 3.6 billion euros in 2015, according to Proglio.

At the Paris stock exchange, EDF lost 1.06% while the CAC was down 0.84%.

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Founded in 2000 by Anthony Freedman, integrated advertising agency Host has 120 staff and advises clients such as Vodafone, Levi's, Coca-Cola Company and Australian companies BankWest, BT Financial Group and Sydney Water. Havas did not provide the amount of the transaction. David Jones said, however, that Host is "growing with double digit growth in its income for five years." Gross margin for the agency, which will retain its name and its current leaders, is estimated at about $ 30 million. "This acquisition is strategic for Havas, is its CEO. This is the largest independent agency in Australia, a brilliant creative agency several times crowned by lions at Cannes.It is also entirely consistent with our model by placing digital at the heart of everything we do. Over 30% of revenues come from digital Host. Finally, with Host and after the acquisition in late 2010 Porda corporate agency in Hong Kong, we increase further the percentage of our revenue in Asia Pacific. "

750 million cash

This external growth "measured but determined," to borrow the words of Vincent Bolloré, must lead the sixth largest global communications to reach 2.5 billion euros in sales within three years. In 2010, revenue was $ 1.558 billion."We now have a healthy balance sheet with cash of 750 million euros, one billion dollars available for acquisitions while in 2005 Havas posted debts of 750 million euros," says its new CEO.

To refine its strategy, David Jones was held in mid-June sixty major Havas executives in Barcelona. The group aims to strengthen in Asia and Latin America as well as in the digital businesses, with "priority given to social networks and geolocation, which represents the opportunity to major transformation of our industry." In 2010, digital accounted for nearly 20% of its revenues. But unlike its big French rival Publicis, which absorbed Digitas, Razorfish and Rosetta, Havas does not increase the scope of redemptions in the industry."We prefer to focus on budgets and talent at the heart of our agencies, rather than isolating them in silos experts, sometimes paid dearly, insists David Jones. That's what we did in recruiting team or Modernista digital with the acquisition of Socialistic. "Havas should also accelerate the deployment of its" microarray ", Arnold and BETC. The first, born in Boston, is a twenty offices around the world. The second, BETC, created in Paris by Mercedes Erra and Remi Babinet, will remain housed in the Euro RSCG network. After an initial introduction to London, BETC could export its "model of start-up" in the United States, Latin America or Asia.

The decline in Internet Explorer due to "the rise of the main browsers used to smartphones and Internet tablets, Google Chrome (Android) and Apple Safari, in connection with the deployment of these terminals to the consultation of Internet in mobility, "said the research institute.

Windows 7 Phone does not pierce

The iPhone and the Apple iPad, the plethora of smartphones and tablets that use the Android operating system Google's take on a dominant role. In addition, "their browsers are installed on more PCs and Macintosh bad credit personal loan lenders. The share of smartphones and tablets only 3% of total visits, "said Franck Si-Hassen, Managing Director of Médiamétrie-eStat.

In smartphones, Windows 7 Phone Microsoft does not pierce.Its agreement with Nokia should be realized only at the end of the year. As for the shelves, Microsoft is still not widely. Thus, in the first half, the browser of Google increased its share of visits of 3.6 points (16.1%) and that Apple has increased its fourth place in France (up 1.3 points to 8.3%).

Finally, the Firefox browser, Mozilla Foundation, consolidated its second position in France, with 29.6% of visits, up 0.5 points over the period. 4 and 5 versions of Firefox have recently been launched. Innovations made necessary to generate financial resources related to the use of Firefox and "clicks" of Internet users.With 400 million users worldwide, the Mozilla Foundation generates a turnover of 100 million dollars a year, most of which is paid by Google.

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Thus, a first version of the document, signed May 3 by the Socialist government after talks with the troika (EU, IMF, ECB), has been submitted for approval to the two main opposition parties, the PSD (center right) and CDS (right). But it is another version of the text, including changes in schedule, which was eventually signed officially by the government on May 17 in Brussels at a meeting of EU finance ministers.

A surprise for the opposition

This revelation has caused controversy in the country, forcing the Ministry of Finance to explain. In a memo to reporters, he confirmed the existence of "ad hoc adjustments" between "the draft memorandum of agreement" developed in Lisbon and "the final version signed by the Ministry of Finance, the Governor of the Bank Portugal and the European Commission on May 17 low fee payday advance.

Similarly, the outgoing Prime Minister Jose Socrates said the parties had signed "two documents, one with the European Commission, the other with the IMF, and the final text did the" make compatible . But for its part, the president of PSD, Pedro Passos Coelho says "not having been informed of these differences," which he said "are not just small adjustments."

For the socialist Jose Socrates, this mess falls at the worst time. The Prime Minister, who resigned in March following the rejection by parliament of its austerity program, is indeed a candidate to succeed himself for early parliamentary elections on 5 June. This Saturday, surveys conducted for the newspaper Publico and Expresso weekly show that PSD collects between 33.9 and 35.8% of the vote, beating the Socialist Party, credited with 32.3 to 34.1% of voice. CDS (right) remains in third place with 11.3 to 13.4% of the vote.

(With Agencies)

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LE FIGARO: Schneider Electric has been rumor of a possible acquisition of Tyco U.S.. You have issued a statement that has not dispelled all doubts. What is it?

Jean-Pascal TRICOIRE: In principle we do not comment on rumors. But quite exceptional, we decided last week to respond because we were the subject of persistent rumors and speculation. I can confirm that we have no discussions with Tyco International.To be more precise, Schneider Electric does not perform in the current year, a big acquisition.

Stand back for much larger operations?

We prefer small-scale operations, a few dozen to several hundred million euros. We have already announced four since the beginning of the year. We may also be interested in the business of medium size, a billion to several billion euros, but, I repeat, we have no large acquisitions planned today.

Do you plan to evolve your strategy on acquisitions?

We must first specify the model of Schneider Electric delivers a very strong organic growth. Between 2004 and 2008 it reached 10% per year. There is also a highly focused acquisition strategy in a market of 200 billion euro still very fragmented.In this market, Schneider Electric is a leader in its sector and still does not realize that 20 billion euros of turnover. This pattern of external growth is now proven. We have demonstrated over the years that we know how to select companies, correctly assess the strategic and financial plans, and successful integration. Last year, nearly 13,000 people joined the Group. In just six years we have gone from 70,000 to 110,000 employees.

Why not apply this model to purchases of larger scale?

Collaboration with large companies do not necessarily pass through acquisitions payday loan lenders. This can be done through business partnerships, joint ventures or purchases that included only the branches. My duty is to do acquisitions that are meaningful to the strategic plan, emit very strong synergies and meet our financial criteria.They must also integrate into our business portfolio: our strategy is not that of a conglomerate! And we are much more demanding these criteria when we look for large transactions. To consider a very large acquisition, you need a good alignment of the stars individual and is extremely rare.

Why are there so many rumors about you now?

I already see that we are perceived as more buyers than as prey, which changes a few years ago.I think we have constructed a clear strategy, an economic model that works and have demonstrated an ability to make intelligent and profitable acquisitions.

Does the pursuit of critical size in order to protect yourself from a possible hostile bid in a sense for Schneider?

Increase its size in just to protect themselves from potential buyers does not seem a good idea. Our priority is performance. I believe in continuous improvement of our performance to give our group the ability to develop and provide our customers with unique skills.

How did the first quarter?

We are making a strong first quarter. We post organic growth high at 11.8%. This is our fourth successive quarter of organic growth above 10%. North America shows a nice bounce, + 15%.And Western Europe, our growth reached 6%. In these geographical areas, our strength comes not so much the growth of markets-very-low that our initiatives. Where they sold the products, we offer solutions, services, energy efficiency, an overall set of offerings to higher value added. Over the year, we maintain our outlook that are always on a rise in business organically between 6 and 9%.

If a new downgrade of its debt were to be decided, the country would be in fact classified as borrowers may not honor their debts. Ireland would therefore its sovereign bonds classified as "junk bonds" – or junk bonds, and would have the greatest difficulty in borrowing on the markets.And a restructuring of its debt would be necessary.

The bailouts are linked together, the challenges remain

This decision was taken by the rating agency because of the deteriorating economic outlook of the island. Paralyzed by a financial crisis, Ireland has been trying for two years to improve its economic situation. She suggested early April fifth bailout of its banking system, in great difficulties, which must be recapitalized to the tune of 24 billion euros.

An austerity plan aimed at reducing the public deficit to 3% of Irish GDP in 2015 from 9.6% in 2010 was also adopted by the country before the elections of 25 February, to keep its promises to the IMF International and the European Union that have provided aid to 85 billion euros.

A new recession

Despite these efforts, economists forecast remains bleak.Last week the central bank of Ireland has revised down its growth expectations for this year: Ireland's GDP should grow by 0.9% it in 2011, 0.1 percentage point less than its initial forecast formulated in January. It also lowered its expectation for 2012 s Croisances from 2.3% to 2.2%.

She also gave the term "recession" on the current year, after the Irish GDP has declined for three consecutive years, falling by 1% in 2010 from 3.5% in 2008 and 7.6% in 2009.The IMF has also produced a report on the state of the Irish economy and its prospects, which should be published that day.

Corruption, the housing bubble and lax financial regulation that boosted the country's growth until the outbreak of the financial crisis in 2007, could continue to encumber the Irish economy for several years.

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The market for slate or internet tablets, cleared by the firm at the apple, should represent between 55 and 60 million units worldwide in 2011 and encroach a little on the notebook market, say the research firms iSuppli and Gartner. Lenovo, China's first brand and PC World number four since he bought the PC division of IBM, had to enter the market shelves.

The LePad, who chose the Android operating system from Google, looks like the shelves of its competitors Archos, Samsung, Dell, Toshiba and Motorola.Other manufacturers are on the starting line, such as HP and the California Research In Motion (RIM).

Available this year in France

Lenovo has two advantages: a strong brand recognition in the Chinese market, where the group has a distribution network which irrigates the very end of campaigns, and the price of the product, less expensive than the iPad. The proposed LePad is 3499 yuan, or 377 euros, against 489 euros for an iPad functions comparable in terms of memory (16 GB) and internet access (Wi-Fi).

In addition, Yang Yuanqing, CEO of the Chinese group, has already warned it would launch a second version of its LePad, "in September or October." The next shelf has been designed in parallel with the first product by another team. The upcoming slate will be fine, "said the CEO of Lenovo.But most observers believe that the Chinese group will continue to opt for software from Google, which should allow it to tighten its prices.

"About a dozen bars in the developing world use our operating system, recently told the Figaro Andrew Rubin, the head of Android at Google, which states that" the experts we attribute about 20% of the market shelves the last quarter of 2010. " That share could rise, like Google's breakthrough in smartphones, to the detriment of the iPhone.

The tablet should be given LePad outside China, including France, "in the course of 2011," says the group's subsidiary.

However, its availability, including in the Middle Kingdom, is in question.The earthquake in Japan, March 11, could affect the supply of components of the tablet, said an official to Lenovo was quoted Tuesday by The Wall Street Journal.

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