The formula has experienced a boom with the development of the Internet. The annual catalogs and postal letters gave way to sites updated 24 hours and 24 e-mail exchanges, fast and free worldwide. A real blow "magic wand", according to William Heinzer, co-founder of the site Trocmaison.com, with over 33,000 deals in 132 countries. At its opening in July 2005, he had only 6000.Homelink France, another leading player in the exchange with 13,000 deals in 70 countries, claiming an increase of 46% of its subscribers since January 2007.

France, the first destination for

The concept comes from the United States, where mobility is more common and less attachment to the old stones pushed in France. However, in proportion to population, the French are among the most active exchange sites. "They are adventurous! exclaims Denise Lemoine, in charge of developing Homelink France. France is the second country after the United States in number of subscribers. Even finding on Trocmaison, the French branch of the American HomeExchange: more than 5,700 vacancies are for housing in France.That figure is exceeded only by the United States.

Why such popularity? William Heinzer of Trocmaison, says he is "very surprised" the dynamism of its site, opened a little earlier than other European versions of HomeExchange. "France is the first destination of choice, he says, the French are so overwhelmed with proposals. Ile-de-France and the Riviera are top research but other regions such as Britain take the game as they pinned the growth of the site also relies on "the usual social networks" , which forces users regularly come into contact with strangers, and on word-of-mouth that can convince wary travelers.

Prepare the first exchange

Allow a stranger alone in his house delights rarely at first."The only way to overcome this fear is to talk with someone who has already made an exchange," says William Heinzer. "Communication between people is the basis of all," says Rudolph Nargeot, founding president of the association free website Switchome. Before making the exchange, both parties get to know each other by mail and telephone. "The exchange is the most difficult first," says Denise Lemoine Homelink. "We fear for his business and what you might find on arrival. But then you get a taste.

But be careful of setting even if, according to trade organizations and their regular customers, incidents and cancellations are very rare. The new "exchanges" and should check with their insurance only possible case is covered, especially if they have agreed to exchange cars with their partners.They can also, if desired, isolate some objects to which they are particularly important. Finally, if they are tenants, they can prevent their owner as a courtesy *.

Exchanging his apartment, but also make some steps to make his home attractive, find partners and agree on dates and different modalities. Once this done, prepare the house and realize a "home book", a veritable instruction manual on home appliances and various local places.

"The tourist in disguise"

But according to the regulars, these few drawbacks are outweighed by the benefits of this original formula. There are of course the financial aspect, not negligible. Indulge in Hawaii three weeks or two months in Australia is not within reach of all budgets.So it is pleasant, exchanging his house, to remove from its budget to housing costs and limit the cost of food.

Above all, the home exchange seduced by his state of mind, away from hotels and tourist buses. The "exchange" seek to discover another way of life by being a "tourist in disguise," said Jean-Louis, who has already made three exchanges. "When we're in Canada, we feel Canadian," says Gregory, another heat exchanger, we take out the trash, we go to the supermarket, we talk with neighbors, in short, we are part of the landscape, we are not tourists lambda in a hotel.

A concept that would attract companies

Born into a community of American professors, exchanging apartment has a hard day to return to the professional sphere.Homelink and Trocmaison trying both to establish partnerships with committees to enable employees to subscribe at a reduced rate and exchange homes with each other or with other subscribers of the site.

Explains Trocmaison have created a partnership with Dell Europe. The initiative comes from a customer site, director of group human resources computer in Italy. Dell was not available to confirm this information "It is not so simple to contact the Works, admits William Heinzer. But this is a project among others. "

Homelink side, efforts are not much more successful: we remember vaguely Ikea partnership ended several years ago between the Ikea Family card and exchange organization.This year, Homelink trying a new collaboration with Works of consulting firm Capgemini, which has engaged the services of the organization. However, "it starts slowly, admits Malika Dellal, head of Capgemini CE West. We will continue to encourage employees from using the vacation mode. Confident, she adds: "We will do a job of communication with the return of the best matches, six families this summer.

Some sites home exchange: – Trocmaison – Homelink – Intervac – Switchome

* Read: Exchanging his house: the new spirit of travel, Pascale Senk and Martin Rubio, the Editions of Ecuador

"Lack of communication of the group"

A trust that does not necessarily share the financial markets.At 9:30, the action Gemalto shows a decrease of 4.28% to 28.19 euros in a market up 1.07%, the largest drop in the SRD. "This drop is excessive, an analyst who follows reacts value. The elements that have affected the first half performance was known. The discrepancy between results and expectations of the market indicates a lack of communication from the group. "

Gemalto in line with the consensus

However, the group released under the first-half turnover of 840 million euros, up 5% at current exchange rates. "We accelerated our offers have been very well received, because they correspond to a real need," said Olivier Piou. There is a real market potential of contactless payments, particularly in Africa and South Asia.In France, we are in trouble because we took too far ahead. "

The group's net profit amounted to 63 million euros, down 7.35% from a year earlier. "Today, the consensus of analysts is around 200 million euros profit the year is well within our range," says Olivier Piou. In 2009, the group posted a net profit of 148 million euros.

No new acquisitions

In addition, Gemalto first half operating profit down 15.2% to 67 million euros but he "remains in line with the company plan to increase its result in 2010," the group said in its statement. Gemalto is 300 million euros in income from operating activities in 2013.Of the three main activities of Gemalto, security has the highest increase (+21%) in the first half to 148.2 million euros (17.6% of sales) to the mobile phone (8%) to 451.7 million euros (53.8% of sales) and secure transactions (1%) to 207.4 million euros (24.7% of sales).

After several acquisitions, including the United States and Germany, the group does not provide new acquisitions. Olivier Piou said that Gemalto had to concentrate in the second half on the integration of recent operations.

LE FIGARO. – Are you not preparing a tight budget?

Francis BAROIN. – When developing a budget, there must be serious and make sense. Our meeting last Friday about the president and prime minister had intended to make choices to reduce public spending in order to achieve the 6% deficit in late 2011. It is the cornerstone of our policy.Everything must work towards this goal: we have an obligation to return as quickly to deficit levels before the crisis. This is a critical issue for our economic growth. The debt and deficits are the major topics of concern of the French, and we must demonstrate our ability to reduce, which will restore their confidence in the future and encourage them to consume and invest in return.

Why have revised down growth for 2011, while the activity was better than expected in recent months?

Economic activity in the first half of 2010 was in line with our expectations, and we should finish the year with growth of 1.4% or even above. For 2011, we forecast a proactive and realistic.Aim for 2% growth, consistent with the OECD projection is proactive because it's better than 2010, but is also realistic because we must not forget that a recession ever went there and that all countries that have suffered will take time to erase the traces.

Are you worried about the credit ratings of France?

No. Over the past two years, it was vital to sustain economic activity by injecting public spending. The revival in France, was very well calculated, and I see that despite large deficits our country continues to borrow at historically low levels on the markets. This indicates that investors have confidence in us.They know we have great resources at our disposal such as a savings among the highest in Europe.

If growth is higher than expected this year, can we expect increased revenue for the State and Social Security?

The good news critical of the first term is the creation of 60,000 jobs. The recovery of the labor market is expected to generate about 2 billion of additional social security contributions. In mid-September, we'll do the exact point on this revenue to build the draft law on financing of Social Security in 2011 on a solid and sincere.

And for the state?

Tax revenues are in line with our expectations. This is particularly the case of corporation tax, which is a very positive signal. The crisis resulted in 2009 by a collapse of social security contributions and tax revenue. We go out.Any additional revenues from the economic forecasting will be fully allocated to deficit reduction.

Nicolas Sarkozy announced Friday a cut of 10 billion in tax and social niches. Is not that a tax increase in disguise?

Absolutely not. No one is forced to use a niche tax to reduce his tax: it is a personal decision. In contrast, a general increase in taxation would penalize everyone. There is no question of doing so. We will not increase taxes, whether VAT, income tax or corporation tax. It is a very political choice, which corresponds to the commitment made by Nicolas Sarkozy during the presidential campaign. To reduce deficits, we have decided to act primarily on the expenditure, including that which passes through structural reforms.In a country where public expenditure accounts for over half of national wealth, is where are the flexibilities consistent.

All the niches are not "chosen". Some tax cuts meet family responsibilities, to situations of handicap, disability, age. Will they be trimmed as well?

Similarly we have not touched the RSA and social minimum, the vulnerable population will be spared by the plane or the removal of niches. Family policy will also be preserved. But it is true that the reduction of niches is an exercise in subtle and difficult. Found 10 billion in savings over 75 billion tax and spending 45 billion on social niches represents a substantial effort. But necessary. For years, the niches have been the choice of the facility.Sometimes washed sand.

The movement of the plane there will be enough to keep your goal?

First, I note that we have actually a little less than 2 billion to find the niches. For decisions taken in the context of pension reform and the level of those to be on the Cades (Sinking Fund of the social debt) will yield a total of over 7 billion. And, of course, we will also with a plane that will reduce by 10% the tax advantage of a number of devices. But this is not the only tool used. Some niches will be deleted. Other tax cuts would be concentrated or have their revised calculation method. The idea is to share the effort between businesses and households. We make our decisions be final in mid-September.

Investors fear being heavily utilized.Are they right?

One of the successes of the French economy is the savings of its households. We will be very careful not to destabilize it. In general, we want to protect the purchasing power of the French.

How to pay off the debt that Social Security has widened during the crisis?

Along with bills of state finances and Social Security, this fall, I will defend an organic bill to Parliament which will define the terms of repayment of 35 billion debt to Social Security that we will transfer to Cades . This organic law proposes to extend the four-year life of Cades, which is currently scheduled for late 2021. We also will allocate 3.2 billion euros of additional resources each year to Cades to be learned from the reduction or elimination of certain niches.Finally, Cades benefit from the recovery of the pension reserve fund which it will draw some resources.

You will increase the margin tax on certain investments of life insurance or income from movable capital (bonds, shares …) to finance the Cades?

It is a trail to the study among others.

Some members of the majority will once again seek an increase in the DRES …

We expect this debate during the fall, which is legitimate. But by offering 10 billion euros in savings on tax and social niches, we will show members that we have the means to finance the Cades without having to raise the CRDS.

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"France has never been so close to losing its AAA rating

The population affected by this vulnerability is that no choice of his job due to low qualification: less than 25 years, foreigners, women.

This is unique in Europe, the study said, recalling that other EU countries have implemented almost all legislation establishing a minimum wage. This is not the case in Germany, where each industry has its own salary scale, negotiated with the unions. This system is beneficial to the industries very unionized, such as automotive and metallurgical.But in services, fragmented into many very different sectors, the system is at the expense of employees.

It was during the last decade, coinciding with the harsh social reforms of the Schröder era, the problem has increased. The number of working poor has increased by 2 million since 2000, particularly with the use of part-time work.

Accept very low wages

A consequence of the policy of forced march back to work established by the Social Democratic government of Chancellor Schroeder. Very decried "a Eurojob, employment or paid one euro an hour, the Germans were accustomed to having to accept very low wages to qualify for coverage, while reducing unemployment statistics.Structurally, it should however be absorbed, the researchers explained: with an aging population and decreasing workforce, areas of assistance to individuals and health will experience a boom in the next ten years.

What, perhaps, eventually give more power to employees to renegotiate their revenue.

Investors have reacted to the publication of figures better than expected property: the new single-home sales in the U.S. rebounded more than expected in June, from 23.6% in May after hitting their lowest level at least since 1963, but remain extremely low, according to official figures released Monday in Washington.

On Friday, the NYSE had ended sharply higher, buoyed by another round of quarterly results from U.S. companies of good quality and were reassured on the results of resistance testing in European banks.The Dow Jones gained 0.99% and the Nasdaq 1.05%. On the whole last week, the Dow Jones gained 3.23% and the Nasdaq rose 4.15%.

On the foreign exchange market, the euro against the dollar adds. At the opening of U.S. markets, it was worth 1.2944 dollars against 1.2906 dollars on Friday night.

Oil prices retreated Monday in the opening exchanges in New York, yielding 86 cents a barrel to 78.12 dollars, while Tropical Storm Bonnie was eventually spared oil facilities in the Gulf of Mexico.

Busy Week Statistics

Another highlight, the U.S. central bank should publish its Beige Book Wednesday on the economic conditions.It will be very guarded while the president of the institution, Ben Bernanke said Wednesday before Congress the slow recovery, with no announcement of new funding in the economy.

On Tuesday, it is the Standard & Poor's / Case Schiller home prices and consumer confidence, which will be followed, before investors only look the next day on orders of durable goods. But it was the day Friday with the first estimate of gross domestic product (GDP) U.S. second quarter to be expected this week.This new burst of publications should be followed especially when investors are questioning again on the strength of the U.S. economic recovery.

Publications wait

U.S. companies are still likely to take stock in their accounts this week, including the program six companies forming part of the Dow Jones online payday advance. Tomorrow investors expect such figures CIT and Lockheed Martin and those sitting in the middle of DuPont.

FedEx rose 5.57% to 83.36 dollars while the group has raised its earnings forecast for the current year. The U.S. giant now aims Messaging earnings per share of between 1.05 and $ 1.25.

Genzyme flies from 7.77% to 65.38 dollars.The group would be the target of several pharmaceutical companies. Sanofi-aventis is about to blow, but Genzyme has rejected its takeover bid by Bloomberg, citing two sources familiar with the matter.

IBM: The European Commission has opened two investigations into the group. It suspects the group of computer abuse of dominant position on the markets for servers. The titles have changed to +0.02% 128.41 dollars.

Always on the side of values, General Electric (2.74% to U.S. $ 16.14) Friday said its increased dividend of 20%, the quarterly dividend from 10 cents to 12 cents. GE also announced a resumption of its share repurchase programs. He had stopped this practice in September 2008. The board gave its approval for an additional $ 11.6 billion."GE hopes to finish the year with $ 25 billion in cash, including proceeds from the sale of a majority stake in its subsidiary NBC Universal to Comcast" say the analysts at Aurel BGC. Some of this money will be used to buy three billion dollars in preferred shares that the group has sold to the holding company Berkshire Hathaway of Warren Buffett in October 2008.

Also note Friday night, the FDIC, the federal agency whose primary responsibility is to guarantee bank deposits, announced the bankruptcy of six new American banks, bringing to 102 the number of closing establishments since the beginning of year.These six failures will cost about 394 million dollars to its compensation fund the FDIC.

Note that the British press suggests a departure from the CEO of BP, before tomorrow, the date of publication of interim results of the oil giant.

Herve Novelli – The decrees of applications of this law appear before the end of the year for implementation status as of 1 January 2011. We will do everything to create a sole proprietorship with limited liability (EIRL) is simple. It is possible to create an online EIRL site counter-entreprises.fr. I also implemented a feature that allows the entrepreneur to avoid having to give a personal guarantee to the bank when he wants to borrow money, this financial product will be managed by OSEO will guarantee up to 70% maximum loan granted by the bank.

Banks are hostile to the creation of a sole proprietorship to limited liability.How to convince?

Banks must be with contractors, as the state has to be by their side when they needed it. I will ask the banks in September to explain the importance of this reform on 1.5 million individual entrepreneurs. I do not want there to be ruined because of artisans of a bankruptcy professional.

This Order is being signed and will include officials from exercising a complementary service activities to the person.

The study group set up with the budget minister working for the simplicity of the status of self-contractor be extended to 1.5 million self-employed. The aim is that the deadlines for payroll taxes are more in line with sales receipts.It is better to consider the impacts on cash social security contributions, especially when the turnover decreased quick pay day loan. The working group will issue its findings in late September.

I signed on July 28 financing agreements on the training of entrepreneurs with self-insurance fund training. The State will fund this year to the tune of 5 million euros.

Protecting consumers, as business support is essential to revitalize our economy. I decided three types of operation for this semester. The administration of fraud prevention is better control of online commerce sites that are becoming more numerous. It has created 17,000 sites trade thanks to the status of self-contractor. 24 million French people use them, and nearly one in two French selects his holiday on the internet.I will start early September also strengthened controls to enforce the rights of students who rent rooms and furnished and are sometimes subject to unfair terms. Finally, I want to limit the accidents of everyday life that are still too many in connection with the Consumer Safety Commission mandated that I have on this

After several months of negotiations between MEDEF and consumer associations, we have reached an agreement on the protection of personal digital data. Consumers who buy a product on the Internet should give their consent for their personal information is transmitted to other sites. They will oppose it easier to use their personal data for commercial purposes.

With the exception of Tokyo was closed Monday for a holiday, the Asian stock markets have also rebounded to gain, climbing 1.45% Shanghai and Hong Kong of 1.41%.

On the macroeconomic front, it remains in real estate in the United States, since the figures for housing starts for the month of June will be published at approximately 14.30. In France, INSEE reveal clues to 12 hours worth of orders received in the industry for the month of May

The news will be charged at the micro level, notably with the publication of turnover. Program are: Alstom and Hermes pre-market, Accor, Lafuma and Radiall after-hours trade. In the U.S., Johnson & Johnson, PepsiCo and Goldman Sachs will release their second quarter results pre-market, Yahoo! (Second quarter) and Apple (third quarter) after market.

On the currency markets, the euro flirted with the $ 1.30 mark, he has not met since May. Around 10.45am, the single currency was worth 1.2984 dollars (0.33%)."A strong euro coupled with a fragile economic recovery in the U.S. is double bad news for European export companies. Until then, the situation was reversed, "said Franklin Pichard.

The bank will resume, the computer values mixed

While bank stocks are picking up well in the early exchanges – Dexia (0.84%), BNP Paribas (0.73%), Credit Agricole (0.95%) and Societe Generale (+0.15% ), computer companies emerge mixed after disappointing results from IBM. Cap Gemini lost 1.02% to 35.42 euros, but Steria wins 1.18% to 20.56 euros.

Alstom: -1.07% to 36.46 euros

Alstom recorded a fall of 38% of its orders in the first quarter of fiscal year 2010/2011 shifted, while its revenues fell 5%.The group expects a "gradual recovery in demand.

Hermes: 0.24% to 57.29 euros

Hermes has doubled its forecast for sales growth this year and expects a rise of between 10% and 12%. The group's turnover surged by 22.8% in first half of 2010 to 1.0747 billion euros.

Edenred: 5% to 13.68 euros

Edenred announced an increase of 4.7% of its turnover in the second quarter, growth of Latin American operations have helped offset a more difficult economic environment in Europe. Trends should remain "similar" in Latin America, and Europe, in the second half.

Soitec: 1.46% to 8.21 euros

Soitec posted a turnover 2010-2011 in the first quarter increased 56.5%.The group expects a sequential sales growth exceeding 20% in first half on the basis of one euro to $ 1.27, with a return to balanced operating income, including its new photovoltaic business Concentrix.

Guyenne et Gascogne: 0.99% to 79.77 euros

Guyenne et Gascogne saw its consolidated revenues to grow by 5.1% to 278 million euros in the first half of 2010, the distribution of fuel. This figure confirms the sluggish consumer spending.

Compagnie des Alpes: 0.24% to 20.60 euros

Compagnie des Alpes has announced its successful capital increase of EUR 100 million with preferential subscription rights and creation of 5.88 million new shares. The total demand amounts to approximately 143.9 million euros, the company said in a statement.The new shares will be listed on the market July 21.

HF Company: -1.62% to 13.87 euros

HF Company has reported a turnover of 72 million euros in the first half, up 1.1% as reported and 3% on a constant basis, in a crisis of consumption.The company produces equipment for residential systems (digital television, broadband internet, etc..) Expects accelerated growth in the second half.

Audika: -14.05% 22.75 euros

Audika posted revenues down 4% to 27.9 million euros in the second quarter with a slowdown in sales of hearing correction since mid-May, as the environment is again unfavorable for consumption seniors.

Laurent Perrier: -1.20% to 66.51 euros

Laurent Perrier announced Tuesday an increase of 17.3% of its turnover, 36.8 million euros in the first quarter of fiscal year 2010-2011. The group enjoys very strong Champagne exports to the United Kingdom, the United States, Germany and Asia.

The controversy swells daily. After the Europeans, it is now the boss of General Electric to accuse China of putting a spoke in the wheels of foreign companies. "I'm really worried, I am not sure that ultimately they want that we will succeed," he complained to an audience of businessmen from Italy, reported the Financial Times on Friday.

Last Tuesday was a report of the European Chamber of Commerce in Beijing, which accused China to increase the discriminatory measures. He denounced a "discretionary application of laws and regulations, the registration process unnecessarily complicated and" inconsistencies in the application of national criteria.

In Beijing, many business leaders say the word to cover: it is increasingly difficult to work in China."They understand that they can leave if they are not happy," says a corporate lawyer. Since April, the party newspaper, the China Daily, had sniffed the wind of revolt and was almost threatening."When foreign companies encounter difficulties in their projects (…) if they do nothing but complain that the foreign media and amplify the case without analyzing the merits and slandering the Chinese economy, they will end up delaying the process of improving the investment environment, "he wrote.

Funny way to appease the spirits when President Hu Jintao says it wants to "take concrete steps to reject any form of protectionism and unequivocal support free trade."

The World Trade Organization said in its latest report "Interest in China and its foreign suppliers of more rapid liberalization of China's service industries.But Beijing, which, in a gesture of goodwill, will leave July 15 rebates for export taxes on certain sensitive products, prefer to believe that foreigners "grunt" on account of wages.

Rising labor costs

Demonstration of support to employees of Foxconn, Hong Kong in June Photo credits: AFP

No social plan, but hiring jellies, retirement and not replaced quits 1765 people. In total, the Company should have 2436 employees under the 2010-2011 fiscal year (which ends in late March 2011), 834 the following year, and 1121 in 2012-2013.

Between the beginning of the crisis in 2008 and 2013, it will be 9312 jobs will be eliminated, according to La Tribune. Hardest hit will be the ground staff, including 3,200 voluntary redundancies. The anticipated staffing needs for 2013 by the company found to be superior to the number of voluntary redundancies planned.The pilot should then be so redundant and ground staff and cabin light should be hitting understaffed.

Budgetary discipline

Anyway, this agreement will enable Europe to invent a new fiscal discipline. This is especially good news that Germany and France had openly opposed on this issue. We remember especially about the government spokesman, Luc Chatel, who said "this is not the European Commission to approve the budget of the French nation."

The EU finance ministers have also agreed Monday night to create new sanctions against countries too indebted to strengthen the Stability Pact.The agreement envisages the possibility of sanctions even when the current limit of 3% of GDP by the Covenant for public deficits has not yet expired, said President of the European Union, Herman Van Rompuy, at a press conference. The idea would be to trigger the excessive deficit procedures earlier for countries whose debt is not declining fast enough low fee pay day loans. It also put more emphasis on the future monitoring of the overall debt deemed not exceed 60% of GDP, and not just the annual deficits.

A modification of treaties is not excluded

The ministers have asked the European Commission to make proposals to define new sanctions.Brussels thinking, for example the suspension of payment of certain subsidies from the European Union for uncooperative countries. Germany also advocates for the suspension of voting rights at European ministerial meetings in Brussels. "We talked about but everyone is aware that financial sanctions not require a treaty amendment," said Herman Van Rompuy.He added: "We have not ruled out a treaty amendment, but has concentrated on what can be done at short notice and under the current treaty that does not have to go to the ahead and impose sanctions, non-financial, "he added, however, ensuring that there was" no taboos "for the future.

These sanctions, which remain to be defined, could be decided whether a country has ignored warnings from its partners on the drift of public accounts, or if the overall level of debt swells too fast.

In an environment where markets are concerned about the financial situation now in Hungary – which is not part of the Euro-zone, this agreement, which follows the completion of the rescue funds of the euro, should enable bring some stability to financial markets that really need it.

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