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It's already Christmas in the "civet"! The government has made on Friday, a nice gift for tobacconists. Their pay on each pack of cigarettes will increase from 6.5% to 6.9% of the selling price. This increase will begin in January 2012 and will be spread over five years, the duration of the new "future contract" signed between Valérie Pécresse, Minister of Budget and Pascal Montredon, president of the Confederation of tobacconists. This is in addition to various support measures for tobacco shops located near the border and in rural areas, estimated at 320 million euros.

The increase in compensation benefits, it at all tobacco shops alike. Paradoxical, because "the sale of tobacco as aids have allowed your average income increase by 57% between 2002 and 2010," as recalled by Valerie Pécresse to tobacconists, who held their annual conference in Paris Friday."In total, more than 1 billion euros that came with your support and profession, which has also benefited, for many of you, the effects of the reduction in VAT in catering."

"At least 10 cents more per pack"

In early 2003, a sharp rise in prices had collapsed sales and forced the closure of nearly 5,000 retailers. There remains 28,000. But since 2004, the price increase regular, moderate (6% per year since 2009) did not in fact impact on the number of cigarettes sold in tobacconists, to the dismay of supporters of tobacco control and Department of Health. As a result, sales of tobacco outlets rose year after year at the rate of inflation of cigarettes for their benefit as for that of tobacco, and especially of the state, who pocketed 80% of price of a pack, which brings in each year over 10 billion euros Business Card Holders.

While the additional gift to tobacconists would have no direct impact on government accounts. In all likelihood, the increase will be offset in compensation not to lower fees charged by Bercy, which closely monitors its accounts, but rather by a decrease in compensation of the tobacco industry, as was the case in the previous contract for the future.

To the extent that tobacco companies have no intention of making less money, they will offset the decline in their pay on each packet by an increase in their prices. "To erase an annual decline of 0.1% of our earnings should be increased by at least 10 cents the price of a package," says one manufacturer. "It's a vicious cycle that will strengthen the cause of the difficulties of cross-border tobacco shops," adds another.

Tobacco companies can increase their prices at the beginning of each quarter.Their next rate adjustment will occur not necessarily next January, to the extent that prices will rise by 6% already on Monday, October 17 or 10, as decided by the government. The pack of Marlboro will then 5.90 to 6.20 euros.

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Pay gold more expensive than platinum? Before 2008, impossible for investors to believe this hypothesis. At that time, an ounce of platinum, the metal so rare and more precious than gold, skirting peaks close to 2200 dollars, while the gold turned laboriously around the bar in 1100 dollars. That gold can fill such a gap appeared unlikely. Yet three years later, this is real. Since the beginning of September, gold has repeatedly passed the plate at the meeting.

What happened in three years for such a reversal of steam takes place? The answer lies in the United States. In September 2008, Lehman Brothers went bankrupt and causes his fall in the economy and global finance. Or "platinum, like palladium, is a precious metal that is used to build cars.The automotive sector, linked to economic conditions, decreased high during the crisis. The platinum price has consistently dropped sharply during this period, "said Steve Allard XTB.

The evolution of the gold price since February 2010 (top) and platinum in February 2006 (below). Source: XTB France

While Europeans are struggling to develop a common strategy of leaving the euro crisis, several major powers, anxious, just lend a hand to the old continent. The U.S. treasury secretary, Timothy Geithner, will participate Friday and Saturday at a meeting of finance ministers of euro zone countries to be held in Poland. This is the first time a foreign official is invited to a meeting of the Eurogroup.

Officially, "the presence of a representative of the American administration will be part of the transatlantic dialogue on the current macroeconomic and financial issues," said the Polish Presidency in a statement. But in fact, Americans doubt the ability of Europeans to find a solution and Timothy Geithner should urge his counterparts to intensify efforts to resolve the crisis of the euro, says Bloomberg.One analyst told the agency "the Americans were anxious quietly and discreetly present, they become intensely anxious and present."

In the wake of rumors about a possible support from China to Italy, Chinese Premier Wen Jiabao told him at the opening of Summer Davos Forum, held for three days in Tianjin, China that his country "will continue to increase its investments in Europe Internet Payday loans." The prime minister said he was confident "China believes that the European economy can rebound." But Wen Jiabao said, "I hope that EU leaders consider their relationship with courage to China a strategic point of view." China wants to be granted market economy status from the European Union, which considers that the conditions are not yet in place.

China is not the only emerging economy to say ready to support the European Union.In fact, the five major emerging economies, BRIC (Brazil, Russia, India, China, South Africa), will discuss next week the opportunity to help the Union européenne.Ils could include increasing their holdings of bonds denominated in euros.

And Europe itself is mobilized. Greek Prime Minister George Papandreou, French President Nicolas Sarkozy and German Chancellor Angela Merkel should discuss the situation of the country on a conference call scheduled for late afternoon.

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Finally a positive signal in the current economic environment. According to the firm AON-Hewitt, the companies expect an increase of 3% of their budgets for salary increases in 2012, against 2.8% this year. According to the 183 companies surveyed in this study, the general increases to 1.9% (against 1.7% in 2011) and the individual, mainly intended for managers, 2.7% (against 2.3% in 2011 ). These prospects for wage increases are close to pre-crisis levels of 2008, but achieving them. In 2009, budgets were part of an overall increase in growth of 3%, but reached 3.3% in 2008.

If companies somewhat loose purse strings is to best manage a triple constraint, says Ariane de Calbiac, head of compensation consulting at Aon, Hewitt."Their priorities for 2012 are at the same time to maintain the purchasing power of their employees, retain their best people while controlling costs payday advance online." The "talent retention" is indeed an urgent need for HR managers at a time when the rate of commitment of employees show great signs of weakness in a company in three.

The variable has the dimension

The current stock market turmoil, with their potential economic consequences of corporate life, are they likely to question the good intentions wage. Not at this time, meet officials of AON-Hewitt. "The forecasts are reliable at this point. The survey was conducted between late June and 19 August.At that time, companies were already aware of the economic uncertainty, "insists Ariane Calbiac.

Other trends survey wages, AON-Hewitt is the further development of variable compensation, including among the non-executives, and increase the overall value of the "package" of compensation, which includes the Perco or employee ownership.

Faced with bronce generated by the project operators to end unlimited Internet packages fixed, two questions remain suspens.Premièrement, who are these "netgoinfres" very heavy users of Internet operators that want coach? Opinions differ. "These are 5 to 10% of consumers who use 80% of the bandwidth. They are found in all countries. The population is fairly limited, "says Yves Le Mouël, Director General of the Federation of Telecom.

In Focus: the "geek" who downloads movies and massive music, spends time on YouTube and Dailymotion. "They are also SMEs with a standard Internet connection and download all day, they are hotels or student residences," said an executive at one operator.

David Charles, president and founder of MVNO Prixtel, but rather the fault of television over the Internet.Growing, it smoothly, he said, the networks. "If we want to free up bandwidth, it must be stopped. The TV is made to switch to TNT, especially since the state has paid dearly for the setting up in France. "

Edouard Barreiro, association UFC-Que Choisir, goes further. For him, "the netgoinfres, these are all of us." "During the day fixed networks are not busy. But they explode in the evening when everyone comes home from work, watch movies, videos, updates made its Apple … We all do the same thing at the same time, he says.Talking netgloutons is an excuse not to make the investments. "

Amend contracts

Operators deny it, but if they decided to go into action, could they change the current contracts? "Yes, it's Chatel law: an operator can easily change its offer, but the client is then free to go free, as was the case during the episode of the VAT," said Edouard Barreiro. Clearly, either the consumer accepts the new conditions, it is part.

But leave her Internet provider is not as easy as changing mobile operator. First, we must do without the Internet for about two weeks. Second, number portability works well on mobile remains fragile on the set. "Things are going well when you leave France Telecom to another operator.But when we leave SFR example, sometimes you lose his number, "said Edouard Barreiro. Finally, it must also return the box and be reimbursed for the possible bond. Not so simple!

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The dream of motorists has it become reality? The site offers Kidioui.com for several days until September 30 to adjust the PV parking offenders who collect the votes of visitors to its site. The principle is simple: anyone who wants to be reimbursed must register on the mini social network for this purpose, explain the context in which the fine was imposed, and get as many votes as euros to pay.

Each registrant may, in fact, a vote for a candidate for reimbursement. A voting system which limits the scope of the regulations to be sent. "Not to push the crime", only minutes of parking are also affected by this unusual offer, which kidioui.com starts to make itself known to the public.

The site, which usually sells cars and scooters new discount Internet, hopes to boost its sales.Opportunely launched after the passage of 11 euros to 17 euros in the price of parking fine, this communication campaign is already bearing fruit, says Uri Stopek, co-founder of the site. "In five days, we recorded over 20,000 visitors to our dedicated website. And in July, while the beta site was just launched, our sales were maintained, when new car registrations were down overall, "said he.

Budget "unlimited"

To date, the bill for this operation is approximately 2000 euros. But the site states that its budget is "unlimited." "The cost of the campaign will be proportional to its impact on public opinion. Plus we will pay fines, and we will have visitors to the site, "said Uri Stopek. This strategy, which uses a bait to attract the interest, is not new.Two years ago, the company had pushed the Rentabiliweb ploy to organize distribution of tickets in central Paris … finally canceled for security reasons.

"This type of operation, a relatively low cost compared to a conventional campaign, designed to make short-term buzz. It is a blow, Eric Weerdmeester analysis, associate director of marketing consulting firm Numsight. This generates awareness, but does not contribute to building a lasting positive image. "

But this is perhaps not the sole interest of the brand. For beyond the mere impact on the visibility of the site, the operation provides the same time to Kidioui.com data on a variety of offenders, which will then be reused for future solicitation. "Very few dealers who now offer their customers targeted offers and packaged.But this site has to do a formidable tool, said Eric Weerdmeester. It is in my opinion his best card to play. "

International equity markets, Asia and Europe have already received the news by frank morning hikes. The main interest, Wall Street opens therefore no surprise to any one as beautiful flight. Picking colors after yielding over 4% last week, which will remain the worst of the year, the Dow began the week up 1.10% at 12,277 points. Standard & Poor's 500 and Nasdaq 100 rose in turn respectively from 0.86% to 1303 points and 2785 points to 1.05%.

It is in extremis, on the night of Sunday, which is reached an agreement on raising the ceiling of U.S. debt, after a speech critical of President Barack Obama.Two days before the deadline set by the U.S. Treasury, the stakes were high: without this increase, at least 2.1 trillion dollars, the United States, on the edge of default, could sow the wind panic on financial markets.

Barack Obama has managed to generate compelling reconciliation of Democrats and Republicans on this agreement, investors now hope to see a bill passed in the coming days. A condition that Congress gives the green light, no later than Tuesday night.

No one knows for how to react, however, the rating agencies. Despite the compromise finally reached on the debt, the loss by the United States, their AAA rating is not excluded and would have severe repercussions on the economy and markets.

Meanwhile, oil prices rose sharply, driven by the announcement of the agreement.On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for September delivery was trading at 98.18 dollars, up 2.48 dollars compared to the previous day.

Industrial activity and construction spending

At the macroeconomic agenda of the first Monday of August, the ISM manufacturing index for July will be announced (expected at 54.4 according to a consensus of analysts), together with expenses building for the month of June (+0.1% expected).

This week, analysts said Aurel BGC, "investors will focus on indicators confirming whether a rebound in growth. In view of the latest indicators movement is far from certain. Surveys of business advocate for a regional downturn in the ISM manufacturing index for July, which will be released today.Auto sales (Tuesday) and retail sales side of Wall Street in July will also be eagerly awaited. Finally, this weekend, the employment figures will be released by the BLS. They will be very affected by the lay-off of 20,000 staff in the State of Minnesota. "

73% of companies did better than expected

The European steelmaker ArcelorMittal and U.S. mining company Peabody Energy (0.73% to 57.89 dollars) on Monday made a hostile bid on the Australian Macarthur about 4.7 billion Australian (about 3, 6 billion euros), after the failure of talks to reach an amicable agreement.The board of Australian mining group declined Monday to support the joint bid from ArcelorMittal and Peabody to 15.50 dollars per share.

The title of the American manufacturer Ford (2.54% to 12.52 dollars) could take 25% as the group reduced its debt, is launching new models and trying to expand in China and India where he remained late over its competitors, said Monday the magazine Barron's.

Shares of online retail Amazon.com (1.75% to 226.41 dollars), which is just below its record high, could earn 10% to 25% if the investment result rapid growth of its retail operations, cloud-computing and Kindle reading light, said Monday the magazine Barron's.

The railway company of the UAE, Etihad Rail, said Monday it has ordered seven locomotives Electro-Motive Diesel, a subsidiary of U.S. manufacturer of construction equipment Caterpillar (2.36% to 101.13 dollars).

On the corporate side, after Merck (+0.03% to 34.10 dollars) and Chevron (1.57% to 105.67 dollars), which published its quarterly results Friday, the ball of publications in the U.S. coming to an end. Nearly 65% ​​of companies have indeed published their findings in the U.S. and 73% reported earnings above expectations.

Among the publications planned the first week of August, include those closely watched CBS, Cephalon, and Pfizer (Tuesday). Will be followed by Comcast, Time Warner and Mastercard (Wednesday). Then, Kraft Foods (Thursday), Procter & Gamble and Viacom (Friday).

J-2 before the ax fell. The United States still be able to honor their claims after August 2? Barack Obama tackle it. So much so that after being long in the back face long power struggle between Republicans and Democrats, the White House decided Saturday to get involved again in the negotiations. Return ardently desired by the Republicans who wish to be assured that it will not oppose its veto on a possible negotiated settlement to Congress.

If no agreement has so far been found, optimism seems to place the next parliament. The head of the Democratic majority in the U.S. Senate, Harry Reid, who previously showed pessimistic, acknowledged the progress in negotiations with the White House. "Negotiations are taking place in the White House to avoid a catastrophic failure to pay the national debt," Reid said late Saturday.Same story on the Republican side: "I think we have a chance to do," said Mitch McConnell Saturday, head of the Republican in the Senate.

Vote Delayed

Evidence that the climate has calmed a bit, Harry Reid has even delayed by several hours the vote on the plan of raising debt cash advance flexible payments. Originally scheduled on the night from Saturday to Sunday at 1 am (7:00 am Paris time), the vote was postponed to 13 hours (19 hours, Paris time).

However, over the head of the Democratic majority noted that would not give the duration of raising the debt ceiling. The Democrats want a measure that could take until 2013.The Republicans, they insist on a plan in two stages: an initial increase before August 2 and a second early 2012, during an election campaign. "There are ongoing negotiations at the White House to avoid a catastrophic failure on the country's debt, he said. There are many elements to be finalized and there is still some way to go. "

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The private broadcasting group said Wednesday a drop of 3% of its turnover.

LE FIGARO. – How do you explain the 5.3% increase in advertising revenues from M6?

Nicolas de Tavernost. – The group is in a virtuous circle: the one who is to invest in programs to improve the quality of our offer to all our channels (M6, W9, Teva, Paris Première …) and therefore grow our audience and thus make our chain essential to advertisers. In a pub in the TV market declining by almost 100 million euros over the last four years we have increased our advertising revenue (3.1%) of 13 million. In the first half of 2011, the market is stable and the group realizes M6 6.2% growth reaching a market share of over 24%.This reflects our audience ratings: M6 is thus the only channel history to have increased this year to 10.5% audience share. If the duration pub fell slightly, however, we have increased our prices by 11%, in parallel with our audiences.

In 2010 you announced an increase in the cost grid of your chains. This strategy will continue?

We announced an increase in the cost of grid M6 5% in 2011, which remains our forecast. The first half of the increase is 2.3% and very fine programs are planned for the autumn. Similarly, the cost of grid W9 increased significantly over the past two years. It's a winning strategy: M6 was regularly leading the Friday night during the first half and also became the program Monday night with his hit "Love is in the field."We are pleased to have won 400,000 viewers in two years on our JT "The 19.45", gather 3 to 4 million ahead of "Scenes from" and to reach 6.3 million, as last Monday with "The Love is in the meadow. " We are not in a logic of cost reduction but in an offensive position in the investment programs.

You have experienced performance-cons as "X-Factor" and now the series "Soda" ….

X-Factor is a disappointment all the greater as we do not fully understand the failure of the program while at the same time, the program was aired in Belgium very well. As for Soda is a summer program of fiction for young people and, from this point of view, the program fulfills its mission. What matters for a program schedule is a recurrence of his success is created through well established brands.This is the case for the M6.

Diversification of your revenues are falling. These activities need to be restructured?

Our group is based on two pillars: the main advertising, which exceeded the level of pre-2008 crisis, and diversification, which have been in 2009 support our business. There is no going back on that balance online payday advance. Although profitability for some of them is less, the diversification continue to earn money including distance selling. In addition, our business grew strongly and our Internet subsidiary Interactions (music licensing) has redeployed well. For its part, the department Audiovisual Rights, a slight decrease in H1, is subject to the seasonality of film releases. It remains the Girondins, who have experienced difficulties.We reduced payroll accordingly and we hope the new stadium will allow us to Bordeaux, in the medium term to increase our own resources over TV rights.

Your cash flow reached 282 million euros. Will you invest?

We are waiting arms at the opportunities to continue to grow in television. For this, there should have sales or clearances that are proposed and data. We are also ready to develop in the production.

TF1 has requested the passage of LCI free. Do you react?

We had anticipated this possibility since, as of May 28, we seize the Higher Audiovisual Council to say that if the spectrum allocation rules changed, we would be interested in getting free in Paris Première.So far, law enforcement had not anticipated the transition from free to fee. If the doctrine changes, and if, as it seems, the essential criterion of fluidity between paid and free was the diversity and quality of programs, then our chain would be the solution. Unlike the info where several channels exist, Paris Première, with its public + CSP, is actually a complementary, not equivalent free chain and a living creation. We are ready to make commitments to it. Pending the response of the CSA, we concluded a new agreement with CanalSat not to mortgage the future of our channels.

Have you changed your position on the launch of new channels on DTT?

Not at all. Should there be new, we would not be the worst placed to succeed. But we ask for consistency.The market is crowded in France and is not elastic in advertising. Also, reduce the costs of existing channels to create new sense to me! It would therefore be wise to take a break. This would allow players to improve the quality of their program offerings (more original programming and fewer reruns) – that ask the French – their digital services (TV catch-up …) and dissemination (HD …). This would also be the best way to resist the arrival of television connected. Ultimately, our position is simple: a break in the creation of channels may be useful, but if it was not the choice of government, the M6 ​​has rights to assert and skills, proven to enhance .

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