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For several months, the G20 and the IMF, but also Europe, Brazil, China, and rating agencies are urging the U.S. to clean up their deficit and debt dementia. Today, the U.S. federal government has the knife to her throat on Monday, the U.S. debt ceiling should touch her – already noted in January – set at 14.294 billion dollars, from which the U.S. can not borrow more.

In other words, the United States are on the verge of bankruptcy. Given the urgency of the situation, the Treasury Secretary Tim Geithner gave a stay of 30 days to allow Congress to reach agreement with the White House. They have until August 2nd to negotiate a compromise, Republicans in Congress will not agree to vote on raising the debt ceiling until the government has not implemented an austerity budget.The United States shackle in effect three years of deficit exceeding 10% and no concrete and credible program of spending cuts are envisaged. Olivier Blanchard, chief economist of the IMF, the savings plan of 39 billion delivered on April 8 is "insufficient".

Barack Obama has set a goal of reducing the U.S. budget deficit of 4000 billion dollars over the next twelve years. It sets the fiscal deficit to 2.5% of GDP in 2015, and wants it to be achieved by three-quarters of declines in spending.Objectives, but no clear way to reach them: during a visit to Facebook, the president spoke reform fiscalité.Sans give too many details, he has to attack the tax breaks for the wealthiest Americans, plans to limit military spending and aid to agriculture, and cutting in the health program, yet very popular Medicare.

"The financial equivalent of a nuclear bomb"

What would happen if the U.S. could no longer meet their debt, as was the case for Greece, Ireland, or Portugal? It would be "the financial equivalent of a nuclear bomb ', warns Aaron Kohli, a specialist in Treasury bills at Nomura Securities. The global cataclysm is such that people do not."They must find a solution, they can not leave the financial world explode," he reassured one analyst, who notes that the financial markets show no signs of concern about the ability of U.S. authorities to agree.

David Wyss, chief economist at ratings agency Standard and Poor's, which recently threatened the U.S. triple-A, not only the Treasury "may continue to operate until August (through accounting manipulations, Ed), leaving the time in Congress to agree, but again, in case of emergency, the government "will pass the debt service as a priority."

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"The U.S. Postal Service on the brink of bankruptcy

"A rating agency of the U.S. deficit is moved

After a session in the green Thursday, the NYSE should end on the last day of the week in the red. After an opening balance, the losses have increased for the Dow Jones was down 0.97% at 12,574 points. The Nasdaq also lost 1.02% to 2834 points while the S & P coward 0.82% to 13,438 points.

Oil heckled

The tensions are still very vivid in the markets for raw materials and oil. The U.S. House of Representatives Thursday passed a bill to increase oil production in the United States to respond to soaring gasoline prices, despite opposition from the Obama administration to new drilling WedFor its part, China has announced to suspend its exports of diesel and severely restrict its exports of refined products to ensure adequate domestic supply and fight against inflation in fuel prices.

Oil prices have also played a roller coaster, unsettling investors. After opening up in New York, a barrel fell sharply in mid-day, the barrel of light sweet crude (WTI) crude for June delivery yielding 84 cents to 98.13 dollars. Finally, the barrel ends up on redemptions of short positions after previously mounted on reports that Libyan leader Muammar Gaddafi had been injured. On the New York Mercantile Exchange, the barrel finished at 99.65 dollars, up 68 cents, or 0.69%, after hovering between 97.09 and 100.70 dollars.

The course followed the evolution of currencies.During the session, the sudden inflation of the dollar made it less attractive dollar-denominated assets such as oil, while the volatility of trade was exacerbated as we approach the weekend. The euro initially lost ground Friday against the dollar after the announcement of accelerated economic growth in the first quarter in the euro area, but eventually succumbed to concerns still living on the Greek budget crisis .

Around 18:30 in Paris, the European single currency was worth 1.4091 dollars against 1.4316 at the opening of U.S. markets and U.S. dollar against 1.4244 on Thursday. Yesterday, she already had fallen in session at 1.4124 dollars, its lowest level since April 1.

Consumer confidence rises

Fluctuating oil prices have pushed into the plan's announcement contained inflation.The consumer prices in the U.S. rose as expected by 0.4% in April compared to March because of rising food prices and gasoline, according to statistics released Friday by the Labor Department.

Moreover, consumer sentiment recorded a rise to 72.4 in May unexpected vision against 69.8 in April, the index of the University of Michigan. Analysts were waiting to 70.

Yahoo! penalized

The side of values, the Nasdaq Composite is sealed by the fall of Title Yahoo (-5.18% to 16.28 dollars) after the Internet portal said Alibaba Group has reorganized the capital structure of Alipay, one of the leading online payment systems in China, without being notified when it is a shareholder of Alipay.

The earthquake in Japan, which has disrupted production car in the Japanese archipelago, has claimed its place as world number one sector to Toyota, doubled in the first quarter and probably for the year by the American General Motors ( 0.06% to 31.44 dollars) and Germany's Volkswagen. Toyota sold 1.79 million vehicles worldwide between January and March, down 12% year on year.Meanwhile, GM sold 2.22 million cars, and returning, at least for this quarter, the world number one spot he had sold to Toyota in 2008.

For his part, Nvidia (-6.65% to U.S. $ 19.14) reported after the close of Wall Street, for the first quarter of 2011 from a profit down 0.2% to 135 million. The gross margin was 50.4%, a record level. Sales reached $ 962 million against 948 million and 1 billion expected a year ago.For specialists Aurel BGC, "the group is clearly affected by the downturn in PC sales and growth opportunities on the shelf is far from certain … For the current quarter, the Group expects a growth of 4 to 6% of its sales. "

SunPower (-0.89% to 21.19 dollars) achieved during the first quarter 2011 revenues of $ 451 million against 347 million last year and a loss of $ 0.02 per share against a BPA from $ 0.13 a year earlier. For the current quarter, SunPower expects a turnover of 500 to 550 million.

CA Inc. (-8.86% to 22.84 dollars), formerly Computer Associates International) in the fourth quarter of financial year 2010/2011 a turnover of 1.13 billion dollars against 1.17 billion expected and earnings per share of $ 0.48 against $ 0.5 expected.About its prospects, the group expects a growth in turnover of 6% to 8% at constant exchange rates for the year 2011/2012, and GAAP EPS in the range of 1.79 to 1.86 dollar. In addition, the Board of Directors approved a quarterly dividend of 0.05 dollars per share and a stock repurchase plan of $ 500 million. Last night, losing the title

Nordstrom (-1.64% to 48.37 dollars) for the first quarter sales of 2.32 billion dollars, in line with expectations, and earnings per share of $ 0.65 against $ 0.67 and expected $ 0.52 last year. The board of directors also voted a share repurchase plan of $ 750 million.

The wave of mergers and acquisitions continues. Yum! Brands (+0.28% to 54.88 dollars) has announced the launch of a tender on the Asian restaurant chain Little Sheep at a price of 6.50 Hong Kong dollars per share.

A month and a half after the start of hostilities, the war in Libya has already cost 50 million euros to France. Gerard Longuet, the defense minister, that figure dropped Tuesday before the Committee on National Defence, says Les Echos.

The invoice missiles fired by fighter planes is around 30 million euros each cruise missile costing nearly a million. We add the operating costs of aircraft: the flight time of a Rafale is estimated at 40,000 euros and time response of the aircraft carrier Charles de Gaulle to 50,000 euros. Premiums paid to military also weigh on the bill, amounting to nearly 10 million.

The war is not over and the cost of operations should increase if the conflict stalled. But whatever the final cost of these unforeseen expenses will be funded.The budget of the Ministry of Defence was counting on 900 million euros for external operations in 2011, an amount identical to that of 2010, with approximately $ 500 million for Afghanistan. Of this amount, 630 million euros have been budgeted and 50 million are expected from the UN, says Les Echos. Thus, 220 million are already short and we must add the cost of expenditures in Libya. Part of the money spent in Libya are at present drawn from the budgets of the military trainings that may not be sufficient, however. Time and budget constraints, the sum could be more difficult to refinance.

To international funding Libyan rebels

The "contact group" on Libya has agreed Thursday on the creation of a mechanism of financial support to insurgents fighting against the regime of Muammar Gaddafi.The special fund will be temporary "operational within the next few weeks," said the head of French diplomacy Alain Juppe, after a group meeting in Rome. "The temporary funding mechanism set in Doha is now well defined" so as to be "operational in the coming weeks," said the French minister told reporters.

After the announcement of the participation of the United States, France "also define" the height of his contributions soon, he added.

The National Transitional Council (CNT) formed by the insurgent wants to be granted loans totaling two to three billion dollars to cover its needs for food and medicines, to ensure essential services in areas it controls and to pay salaries.About 250 million has "already" been collected for humanitarian aid to Libya, said the Italian Foreign Minister Franco Frattini.

This request has so far been examined carefully in the Western embassies, particularly because of legal obstacles that the Rome meeting was intended to circumvent.

The administration formed by the insurgents is far recognized only by France, Italy and Qatar.

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Avoid taking unnecessary risks. This should be the credo of investors on Wednesday at the Paris Bourse. The CAC 40, which strengthened yesterday after eight consecutive sessions progresison, has no clear upward or from Wall Street or the Asian markets. In addition, the program of the day is very busy.

In addition to a series of important industry publication, several statistics are on the agenda. In France, there will be counts of the trade balance in March and the PMI services in April. This indicator is also expected across the eurozone, as retail sales in March. United States, employment is under the spotlight. So what awaited the traditional monthly report Friday, the markets will have an overview of the U.S. labor market from Wednesday with the Challenger study on employment, which will be followed by the ADP report.Next came the ISM services and oil stocks weekly.

Oil markets precisely, prices are still trending down in morning trading. A barrel of light sweet crude for June delivery lost 76 cents to 110.29 dollars while that of Brent North Sea also June delivery yielded 69 cents to 121.76 dollars. Brokers are questioning the declining demand in the United States. On the currency markets, the euro fell slightly to 1.4813 dollar.

BNP Paribas beats consensus

Orpea

The group announced Wednesday an increase of 26.7% of its sales in the first quarter of 2011 due to high occupancy of its homes and its clinics. It confirms its target of a 2011 turnover of at least 1.210 billion for the full year (964.2 million in 2010) and "maintaining profitability remains strong."

BNP Paribas

The group reported results well above expectations for the first quarter. Net income was up 14.6% to 2.6 billion euros over the first three months of the year, revenues rose 1.3% while provisions for bad debts fell by over 30% .

Alstom

The specialist in energy infrastructure and transport on Wednesday released results 2010-2011 in sharp decline, especially because of its activities in energy, and confirmed its targets for this fiscal year cours.Sur ended March 31, Alstom recorded a net profit of 462 million euros (-62%), operating income of 1.570 billion (-12%) and a turnover of 20.923 billion (+6%).

Su expected in publications Wednesday égalment are those of Scor, NicOx, Boursorama, CGG Veritas (first quarter results).M6, Iliad and Gecina unveil their turnover in the first quarter. After market, income Cegedim, and Mr Bricologe SeLoger.com are expected.

Vicat

The group announced on Tuesday a jump in sales in the first quarter thanks to a rebound in its business in Europe, helped by particularly mild weather conditions.

NRJ Group

The group announced Tuesday an increase in advertising revenues in France since the beginning of the second quarter, after posting a jump in sales over the first three months this year thanks to its television division.

Hermes Jean Paul Gaultier officially leaves

Valeo

The U.S. investment fund Pardus has criticized the leadership of Valeo's not doing more to address the valuation gap between the automotive supplier and its competitors.

Hermes

The broker said Tuesday the sale of its 45% stake in Jean Paul Gaultier perfume Catalan group Puig. The sale price of securities and loan repayments will generate a book profit of EUR 30 million in 2011, said the saddler.

Europacorp will present its strategic plan while Air Liquide holds its general meeting at 15 o'clock.

Very symbolic. Having lost its place as number one global telephony to Apple last week, Nokia announced Wednesday the transfer of its Symbian mobile operating system to Accenture.

The first consequence of this partnership is the transition of 3000 employees of Nokia in the computer services company. The Finn gives a boost to abandon its system house for the benefit of Microsoft Windows phone, with which it has signed a partnership. Accenture will also mandated to work on developing Windows phone for Nokia. The group must now act quickly to address the backlog that builds up against its main rivals. For now, the battle is between Apple and the manufacturers who have chosen Android, including Samsung. Nokia and Microsoft are still on the roadside.The Finn has seen its global market share drop from 49% before the launch of iPhone in 2004 to 29% in early 2011. And this while the world market is booming.

The cuts in the number of Nokia do not stop there. Parallel to the outsourcing of Symbian, Nokia has announced the elimination of 4000 jobs by the end of 2012 payday advance. A measure intended to "align its human resources and operational sites with its new strategy," said the group, which now refers to the closure of some sites for research and development.

Repairing the lines

In total, therefore removes Nokia 7000 jobs. A restructuring that is part of his economic plan. Unveiled last week, he aims to cut one billion euros its operating expenses between 2010 and 2013, mainly through restructuring.An improved cost structure is mandatory, while Apple mocks the industry by posting a 50% margin on iPhone. This is ten times more than the operating margin by Nokia in the first quarter.

The group is facing a double challenge: it must develop one or two phones capable of competing with Apple and offer an application store as complete as those from Apple and Android. For now, the specification is far from completed.

However, ads Wednesday reassured exchanges. Nokia has won the title in Helsinki … 3.27% after having lost 25% since February 11, the date of the announcement of its alliance with Microsoft.

Mohamed Al Fayed at the cinema. The Egyptian billionaire has confirmed his interest in markets for the purchase of Pinewood Studios. "Mr. Al Fayed has noted recent speculation regarding a possible offer of his hand. It confirms the possibility of a cash offer at Pinewood, "says a note sent to the London Stock Exchange.

The announcement comes just two weeks after Pinwood has received a takeover offer by its shareholder Peel Holdings, which owns 29.8% of capital. The latter offers 190 pence per share representing a total supply of 87.8 million pounds (about 99.5 million euros). For now, Mohamed Al Fayed said that "it is not certain that an offer is made" but the markets themselves, are safe. Result: Pinewood share price jumped to 10.4% in session Thursday at 223 pence, giving studios a market capitalization of 100 million pounds.

For Peel, the difficulties accrue while the other shareholder of Pinewood, Crystal Amber Fund (28% stake), considers that the initial offer of 190 pence does not reflect the true value of the company.

The home of James Bond

This battle looming market reflects the growing interest of investors in these studios, the largest in Europe, located in Buckinghamshire (county of south-east England). For nearly 75 years, Pinewood has seen the greatest movie stars. He is best known for being the location of the main James Bond like From Russia with Love, On Her Majesty's Secret Service, Moonraker and more recently Quantum of Solace.A studio is even dedicated to James Bond (the "007 course).

Pinwood was also chosen for the filming of blockbusters like the latest Harry Potter and Pirates of the Caribbean, but also The Bourne Ultimatum, Charlie and the Chocolate Factory, Mission Impossible or Lara Croft guaranteed payday loans. It's also where I will turn the next Clash of the Titans.

Very popular, Pinewood has reported a pretax profit of 5.8 million pounds last year, up 31%, and expects an increase in its turnover increase this year. The group also plans a massive investment of £ 20 million to expand the premises in Buckinghamshire.

Bet small productions

Pinewood has also ride the wave of success of the film The speech of a king who has won several Oscars with an initial budget of shooting only 9 million pounds.The low-budget films will be a priority for the studios that will focus on set at 2 million pounds.

The group also put on the hot market of TV and cinema in Latin America. A franchise agreement has been signed to that effect in the Dominican Republic.

Expanding empire

Mohamed Al Fayed, Pinewood get their hands on him to reconnect with his roots. The businessman had indeed already bought a studio in Egypt and participated in the production of the film four times Oscar-winning Chariots of Fire in 1981. The executive producer of this film was when her late son, Dodi al Fayed.

If he makes a bid and wins, especially Mohamed Al Fayed will relaunch its empire, amputated Harod stores, sold to a Qatari fund last year to 1.5 billion pounds.Always very diversified, its acquisitions include the Ritz Hotel in Paris, a hundred apartments in Hyde Park in England, the attraction Falls of Shin in Scotland and the London club football for Fulham.

Have a green thumb is not enough. Owning a terrace in town is for many urbanites, a dream has a price. According to a study by Ipsos for the National Union of Entrepreneurs of the landscape, three out of five would be willing to spend more to afford private green space. Remains to be seen how much. A well-enriched with a terrace implies a premium, hard to assess. Beautiful garden and terrace have to be considered as the second living area's largest home after the show, the price of an apartment is calculated based on its inner surface.

"The land can not be accounted for under the Carrez law, gets carried away Vitu Henry Benedict, the founder, twelve years ago, the first agency thematic, Terrace and Garden.Refer a weighting in the estimation of a property with a terrace is unfair … "Some agencies identify three areas: that of the apartment in" square ", that of the terrace, and a third," living ", taking into account some of the terrace. Difficult to navigate.

Exclusive possession

Only a comprehensive evaluation enables real estate professionals to refine their estimates based on a bunch of criteria. A terrace is primarily an outdoor area at above the apartment below. Then, all things considered: environment, vis-à-vis, exposure, accessibility (terrace is worth more than single storey pitched after a spiral staircase). The ratio of area outdoor / indoor is also important.Other criteria, its legal description: mostly as a party town but exclusive enjoyment.

"Everything depends on the use of the terrace," says Peter Bazaille me, notary. Must be able to set up a table and chairs … "How to give a price for this outdoor space? "On a terrace of 10 m2, 2 m2 can be added to calculate the price of an apartment of 70 m2. On a terrace of 20 m2 usable, to be weighed 8 m2 the price of an apartment that would make 100, "he says payday advance. At a recent expertise of an apartment of 80 m2 top floor, with views across Lyon and hanging garden of 50 m2, Pierre Bazaille suggested, however, add to half the size of this urban paradise prices sale."The greening of the place is also part of the estimate of a property, says Henry Benedict Vitu, but it is undeveloped, it is better to give carte blanche to the purchaser." The garden staging, home staging declined would therefore be handled with care.

"Home Green Home"

The owner of a heavenly "home green home" will indeed be delighted to arrange their favorite plants, recommended more often by a landscaper. And guided by the condominium rules that can sometimes prevent some species, such as invasive bamboos. Enhance this green bought at the price of gold is more or less, depending on materials. "The cost per square meter to 250 € in authentic Parisian cobblestones, but at 50 € pebble, note, for example, Pierre Alexandre Risser, renowned landscape.A tray can range from 15 €, plastic, 400 € clay. "In addition to traditional services, he suggested, 200 €, available for" makeovers "decking line. Tips to enlarge the existing smaller spaces. Christophe Courtois and overhung the terrace of a giant mirror, which reflected plants and clouds. From a lead roof bristling with chimneys, Hugh Peuvergne made him a Provencal garden with green oak, cypress, olive Bohemian and wisteria. At the heart of the tenth district, he raises at the end of a terrace of 8 m2, a forest cabin facade. And imagined, on top of a building of the sixteenth Haussmann, a roof terrace of 120 m², with cabin, swing, sandbox and generous dining area. Making sure to leave between the trees, a "track" for Children transferred to a tricycle.

THE FIGARO. Switzerland-What is it to the forefront in the fight against illegal money dictators?

Micheline Calmy-Rey. – Switzerland has a fundamental interest that the illegal enrichment of politically exposed persons may not be invested in its financial sector. The Government believes that it is an important asset in the competition between financial markets and the commitment of financial intermediaries at this point is in their interest. Since the 1990s, Switzerland has established a legal arsenal against money laundering, terrorist financing and corruption. Our system rests on two pillars: preventive and active. The law requires financial institutions to report suspicious transactions and where appropriate to freeze the accounts.And we respond to any request for assistance, including when the state is failing with a new law that has just come into force in early February.

Have you used this law to the four recent cases of blockage?

We decided to freeze funds on the basis of the Federal Constitution, under the protection of the interests of the country for a period of three years. The aim is to prevent movement of capital and encourage requests for assistance. Since then, we received a request from Tunisia and Egypt personal loans for people with bad credit.

How much do you think these illegal assets?

Investigations are ongoing. We have lists of people for whom the assets were frozen. At this stage, the estimates refer to several tens of millions of francs.Switzerland now has a legislative deterrent …

But the returned funds are still limited …

This is not true. On 5 billion dollars returned last fifteen years in the world, Switzerland has made more than a third. In this we are truly pioneers. It is a very strong commitment of Switzerland, which seeks not to be a refuge for these assets and that these funds be returned to the people plundered. So is the reputation of our financial center. The procedures are complex and require strong political will of States. It is the experience of the long procedure for funds Duvalier in Haiti that has led us to legislate.

How to fight more effectively against these illegal funds?

We need better international coordination in the G20 and multilateral institutions.We launched several international initiatives on this subject. Switzerland played a particularly active role in implementing the Convention Merida by all signatory States.

After opening with no direction, the U.S. stock markets have closed sharply higher Tuesday. The Dow Jones climbed 1.03% to 12,214 points, the Nasdaq is 0.73% to 2766 points and the S & P 500 rose 0.89% to 1322 points.

In an attempt to limit the mad surge in crude prices and avoid an oil shock countries that export oil rally. After Saudi Arabia, three other cartel members would increase production, the Financial Times. The OPEC members are currently holding consultations on the impact of mental disorders in Libya in the oil market, said Tuesday the Kuwaiti Minister of Oil.

On the foreign exchange market, the euro lost it again a little ground against the dollar on Tuesday as investors reaping some profits after a summit in four months yesterday.In the evening in Paris, the euro bought 1.3904 dollars against 1.3971 late Monday.

McDonald's: -0.98% to 75.54 dollars

The side of values, the American fast-food chain McDonald's has sold its leading position worldwide in terms of number of restaurants in the Subway chain, which specializes in sandwiches. Subway has 33,749 restaurants on January 1 in the world, while McDonald's had 32,737 on the same date. Starbucks and the number two burger Burger King were respectively about 17 000 and 12 000 restaurants. However, McDonald's still has a considerable lead in terms of turnover at 24.1 billion dollars in 2010 against 15.2 billion for Subway.

Coca-Cola: +0.64% to 65.64 dollars

Coca-Cola and China Resources Holdings may be interested in Zhuhai Zhongfu Enterprise by the National Business Daily.Monday's action Zhuhai Zhongfu Enterprise was suspended pending further information, indeed jumped the track Thursday and Friday at volumes well above the average (Bloomberg).

Google: +0.11% to 592.31 dollars

Also note, multifunction phones running Google's Android system are now the most sold in the United States, surpassing the Blackberry phones from Canadian manufacturer Research in Motion (RIM) said Monday in a study firm ComScore.

Boeing: 1.64% to 72.04 dollars

The U.S. aircraft manufacturer Boeing announced it had signed sales contracts with two Chinese airlines for a cumulative amount exceeding ten billion dollars (7.16 billion euros).Eager to expand its fleet, Air China has announced plans to buy five Boeing 747-8 for a list price of about $ 1.54 billion, a welcome support for a Superjumbo selling relatively few. The 747-8, with a capacity of 467 seats, has a unit list price of $ 317 million. Air China is the third company after Lufthansa and Korean Air have ordered the aircraft, which Boeing is the replica of the Airbus A380.In addition, the aircraft manufacturer announced Tuesday the signing of a memorandum of agreement with the company Hong Kong Airlines to order 38 large aircraft for a list price of $ 8.5 billion.

United Continental: 6.31% to 24.78 dollars

For his part, Continental United, the group merged U.S. Airlines and Continental Airlines announced a 1.1% decline in traffic over the month of February and up 1.8% of its capacity. The filling rate was down 2.3 points.

Fiat: 3.42% to 9.06 dollars

The recovery of U.S. automakers is confirmed. After the triumphant entrance of General Motors on Wall Street, Chrysler said Tuesday that its value has increased almost fivefold during the first 18 months under the control of Fiat.At December 31, 2010, Chrysler reached a value of 4.8 billion, reveals an analysis of documents filed by the group on February 25 with the SEC the authority of U.S. markets. In June 2009, when Chrysler came out of bankruptcy proceedings, the value of the builder was estimated at 996 million dollars. These figures give an overview of the potential value of Chrysler is preparing its return on the stock market, expected in the second half of this year. These figures give an overview of the potential value of Chrysler is preparing its return on the stock market, expected in the second half of this year. Chrysler has made those calculations to determine the remuneration of its senior leaders, including the managing director of Fiat Sergio Marchionne. The executives are paid in part by "phantom stock" which will be converted into normal action at a later date.In June 2009, the price of these shares was $ 1.66. End of 2010, it reached $ 7.95.

Wells Fargo: +2.49% to 32.51 dollars

In banking, Wells Fargo has announced the hiring of more than 1,000 people by mid-May 2011 to expand its teams in the retail banks of the East Coast of the United States. The California bank had already added nearly 600 people to its teams in the same region since the completion of the merger Wachovia / Wells Fargo late December 2008. Wells Fargo reported earnings "record" in 2010 to 11,630,000,000 dollars, up 46% over the previous year.

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"It went faster than I imagined, and it was more complicated than expected," says Stéphane Courbit. In three years, the former head of production company Endemol France, famous for having developed the reality show in France, has built a group active in television, online gaming and energy. A mini-empire of 4,500 employees in 25 countries, whose companies have made last year a total of over 1, 2 billion euros in turnover and net profit accumulated close to 150 million euros.

At age 45, urged the contractor, a graduate of the ISG, which started as an assistant of Christophe Dechavanne before getting a company with host Arthur is ready to move up a gear.To achieve this it plans to open the capital of his personal holding company LOV (reference to his children, Lilac, Vanilla and Oscar) to investors. "We want to go from 150 to 200,000,000 euros in 24 months," says Stephane Le Figaro Courbit. We could bring partners, family investors, because we have plans for large acquisitions in television and gambling on the Internet. LOV could double or triple in size over the next three years. "To begin, Stephane Courbit is ready to sell 15-20% stake in LOV, but wished to maintain control. "Within 3-4 years, we will ask the Stock Exchange," he says.

The increased funding is unquestionably one of his concerns. Until then, to maximize its investment capacity, LOV was always associated with the level of its major subsidiaries.The company holds Stéphane Courbit and a third of Banijay, and the Society of sea bathing has half the activity online games. By opening the capital of LOV, with 300 million fully invested, he will restore the resources to support its subsidiaries, that follows closely. Day by day.

"With the exception of Direct Energy, we are operational in the societies in which we invest. LOV is an industrial group focused on the content and the Internet, "he says. Each business is run by officials in close contact with Stéphane Courbit himself. "I would like to distance, I withdraw from daily life, but it's hard, it's against nature," says the entrepreneur, who feels closer industrialists and financiers high quality business cards. "I worked 15 years in television.I invest in what I understand or control. "Following this logic, Direct Energy is a special case. "Direct Energy is the only investment that is not in the heart of our business, my only opportunistic investment. I went with Jacques Veyrat and the Louis-Dreyfus. I would never have gone alone, "he acknowledges.

In fact, LOV was developed mainly in three areas: gambling on the Internet, television and the Internet. "In total, we invested $ 300 million since end 2007: 100 million in Direct Energy, 100 in TV, 50 in 50 games and the Internet."

Towards a rapprochement with Poweo

For the future, Stephane Courbit intends to develop without LOV away from his heart craft. In gambling online BetClick has become the leader in France in paris sport with 45% market share.The company claims a place in the Top 3 in Europe, but it still has weaknesses. "We could make acquisitions in Spain and Germany," says Stéphane Courbit. In France, the company loses money after investing heavily in marketing last year to take advantage of market liberalization. "We invested 40 million euros in six months. This year, we focus our communication efforts on football by sponsoring Marseille and Lyon.

In audiovisual production, Stephane Courbit has united around its Banijay company, Groupe Arnault, the Agnelli family and Agostini. In three years he has rebuilt a group of 240 million euros, which generates two thirds of the group's net profit.Banijay includes ten production companies in France, Scandinavia, Spain, Germany and the United States.

The idea is to develop original formats in one country for use in all others. "We need to catch the first two sector Endemol and Fremantle and for that we climb up to one billion euros of turnover. The first step is to locate in Britain, an important market that we're missing. We are talking with a British company. "

In energy, the profitable development of Direct Energy is largely related to changes in the price of electricity sold by EDF operators. A reconciliation Poweo would make sense. Stéphane Courbit ranks rather an observer who does not opt out if an opportunity presents itself.