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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.

Eurobonds are too expensive. It is seeking to demonstrate that the calculations of the German Ministry of Finance, taken by the weekly Der Spiegel on Sunday. This mechanism, which is to pool the debts of 17 countries in the euro area, regardless of their health, the first year would cost 2.5 billion euros of interest in addition to the budget of the German finance minister. This cost would be twice as high the second year to a total of 20 to 25 billion at the end of ten years.

On this basis, German Chancellor Angela Merkel has once again firmly rejected the introduction of this system, although many market professionals believe that this is the solution to the crisis of European sovereign debt. "The Eurobonds are quite the wrong response to the crisis of the moment.They would lead us to a union of debt and not a union of stability, "she says in an interview with ZDF.

His comments echo those made by the Minister of Economy Philip Rösler the newspaper Bild am Sonntag: "The Euro-bonds are a bad signal sent to national economies failed. Cover the risks of other countries with Eurobonds would immediately drive up interest rates in Germany. This would have dramatic effects on growth in our country, "said he.

Strengthening governance

Despite all these outputs, the German government did not draw a line under this system. The finance minister, Wolfgang Schäuble, has again said that the countries of the euro area could issue Eurobonds if échafaudent prior fiscal policy and fiscal policy.But this move towards integration is not fast enough, he said. "Most Member States are not quite ready to accept the necessary limitations on national sovereignty. But believe me, it's a problem we can solve, "said the Minister in an interview with Welt am Sonntag.

Wishing to lead by example, Wolfgang Schäuble has said for his part personally prepared to transfer sovereignty to Brussels. "As a person, I would be ready. The idea of ​​a European finance minister I have no problem.But as finance minister I say that it is our duty to solve problems here and now, and that as soon as possible based on existing contracts. "

Wolfgang Schäuble will meet his French counterpart Francois Baroin Tuesday to discuss the harmonization of corporate tax and the introduction of a tax on financial transactions. France is the country with Germany most strongly opposed to the Eurobonds.

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Like Wall Street Tuesday night, which has rebounded strongly, and Asian markets Wednesday morning, that show – more moderate – from green, the Paris remains well in positive territory. At the opening at 9 am the Cac 40 rising 1.27% to still 3216.59 points. In London, the FTSE s lead of more than 1.7% in early trade, while the Dax in Frankfurt climbed 2.09% to 5040.68 points.

Investors are relieved by the outcome of the Fed, which ensured that it would extend its monetary policy ultra-accommodating while maintaining zero interest rates until at least mid-2012 and exploring other measures to support economy U.S.. The Fed confirmed that the U.S. economy is in trouble, especially since the deterioration in the debt rating of American long-term.

But the French side, poor statistical stopping the rebound came as the Paris Bourse was trying to afford.French industrial production has displayed sharp decline in June, -1.6% compared to May after a significant increase of 1.9% the previous month, said Wednesday the National Institute of Statistics (INSEE) . In the only manufacturing industry, which excludes mining and construction, production was also significantly decreased in volume compared to May (-1.9%), according to INSEE. She was up sharply in the previous month (+1.4%).

Now that the mood calmed down on the front of the U.S. economy, more eyes turn to Europe, a somewhat forgotten during the American episode, but continues to skate on the issue of debt. But the urgency is "crucial to restore market confidence," stressed the President of the European Council, Herman Van Rompuy.But disagreements between countries are delaying the implementation of the rescue plan agreed in June

U.S. oil stocks on the radar screen

From a macroeconomic point of view, in France, the current account deficit narrowed in June to 3.4 billion euros against 5 Payday advance.5 billion in May, mainly due to a significant decline in the deficit of trade in goods, said Wednesday the Bank of France. The deficit of trade in goods reached 5.8 billion euros (7.5 billion after May) while the surplus in services trade has shown an increase ($ 1.5 billion from $ 0.8 billion) .

This is especially the United States the figures are viewed. Weekly crude inventories will be closely monitored while the oil has again depreciated sharply: Oil prices ended Tuesday to its lowest level since September 29, 2010, yielding about 2.5% in New York under the $ 80.At 20 hours, will be published the figures of budget execution in July.

GDF Suez profits down 23%

Values ​​on the forehead, the only value of the Paris stock to remain in Sanofi ke deckhouse is: -0.06% to 47.23 euros.

Note that GDF Suez (3.40% to 20.70 euros) issued a net profit down 23% to 2.74 billion euros in the first half of 2011. Mestrallet, interviewed by Le Figaro on Wednesday that his group believes in the process of deleveraging, which has signed a strategic partnership with China, is well equipped to benefit from growth in emerging markets.

Bourbon (5.90% to 23.34 euros) Wednesday reported a sharp increase in sales in the first half thanks to the continued improvement in the utilization of its fleet of bottom of market recovery.

Scor (3.16% to 15.81 euros) announced in a statement that it has completed the acquisition of the mortality of Transamerica Re, a division of AEGON, and it took effect from Wednesday. The amount of the transaction announced April 26 totaled 912.5 million dollars, said Scor.

Atari (17.69% to 1.73 euro) said Tuesday it has completed the sale of development studio at Cryptic Studios games Chinese Perfect World, listed in the U.S., for gross proceeds of approximately 35 million euros.

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. "

Greece Is in default? For Baroin and Valerie Pécresse, the answer is no. The Minister of Economy, interviewed on RTL on Friday morning, and budget minister, responding to RMC, however, swept this term used by many analysts in the wake of the passage of the bailout of the country, which provides including an extension of the term loan to Greece and lower borrowing rates. "This track is discarded because it would result in the destabilization of the deep zone," said Baroin. "These are not the words we use. Greece will repay its debt, "added Valerie Pécresse.

According to the Minister of Economy, the "partial failure" is that "legal characterization" that rating agencies could use in the coming days. "They will do what they want," says he.The derivatives market professionals, meeting within the International Swaps and Derivatives Association "(ISDA), should just meet in the coming days," probably "even today, to determine whether the new aid plan Greece is a "credit event".

Whatever their decision, Baroin determines that the plan provides an adequate response to address the situation: "This plan is a firewall. There will be the Central Bank to play its role as lender and the European Financial Stability Fund (EFSF), more flexible, which will intervene to prevent attacks by speculators. "

Banks will no longer be sought in the future

For the Minister of Economy, the agreement reached in Brussels provides answers "exceptional, deep, powerful, durable giving guarantees to Greece to support the continuity of its delivery to an acceptable level.""This is a response to avoid any risk of infection by a public-private and technical arrangements for the European fund, which also outlines the future prospects of the future European economic governance," he added. Regarding private sector involvement, the economy minister reiterated that private creditors are not required to save other countries in the euro area. "This is not one second that the private sector finds himself called for a voluntary basis for Portugal, Ireland, which are two other countries in the European assistance," he said firmly.

"Many things have changed yesterday. It was a real go of history which gives a more stable Europe, "said Baroin. Valérie Pécresse also welcomes the "Instrument for Stability" what happened to the EFSF, "beginning of a European Monetary Fund."She said the new rescue plan was necessary to "save and protect the euro." "This is a reference currency that allows France to have the confidence of investors. If we had dropped Greece, it was the French who would have paid, "she says.

The government spokesman also announced that "the Prime Minister will receive all 11 hours of national representation: the Senate president, the president of the National Assembly, the chairmen of Finance, European Affairs to present the rescue plan for Greece, which was adopted yesterday and tell them the consequences for France. "

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LE FIGARO. – How do you solve the structural problem of Fnac, the erosion of its major markets?

Alexandre Bompard. – With the offensive Wednesday unveiled, we want to build a new Fnac looking to the future and whose identity will be based on three strong pillars. The first is the extension of our current product offering. Today, our offer is concentrated around the cultural and digital entertainment. With this plan, we will extend it to other types of activities: those aimed at children and families first, and in the future than in the discovery of the escape or the home and interactive design. The second line requires a paradigm shift for a brand that was built around its product: it aims to put customers at the center of our business and our business, emphasizing the relationship at any time with them.Of these, we will finally pay special attention to customer expectations family: it is the third pillar.

How will decline precisely this strategic plan?

To pass this plan, we will implement a number of levers. With the new consumption patterns, our stores will no longer be organized by product, but by world usage. For music, for example, you will find the same space CD, MP3 players, but also hats, concert tickets … well, we will create a world dedicated to children under 12 years with not only a comprehensive range of books to products edutainment and advanced technology, but also animations and dedicated services. More generally, however, the development of personalized services is a priority.We will innovate in this area soon, especially with takeover bids and the subscription of technical products.

This plan does not sign then the end of your physical network?

On the contrary! To be closer to customers in two French Fnac does not close to home, we take two major initiatives. By 2015, thirty stores will be open as well, on the outskirts of large cities in particular. Furthermore, after signing a partnership with Lagardère Services establish ourselves in stations and airports (the sign will replace the Virgin next week, Ed), we will launch a new store format: fifty Fnac proximity, about 300 square meters, should be released in four years, first in clean and free.These small signs, offering all the universe Fnac, will complement the department stores and will allow us to install in smaller cities. Of course, this is also associated with an increased fnac.com, because customers prefer the greater integration of the two sales channels. With our power in store as on the Internet, we will deploy a multi-channel strategy so successful and will offer such customers to withdraw all their in-store purchases made online or ordering of kiosks in stores.

You mention the date of 2015. Can you elaborate on the timing of this plan?

Speed ​​of execution of this plan is a key to its success. The first initiatives will therefore emerge in the next few months. Openings and reorganization of our stores are involved, they mainly in 2012 and 2013.The mobilization of our people, aware of the need for change, will also be one of the key elements of enforcement. I hope that the implementation of this plan is a lever to renew the social dialogue.

What budget has been earmarked to ensure the success of this plan?

I do not want to give numbers. The planned investments are suitable for our ambitions as we can. It is both a plan of conquest and a realistic plan. Therefore, we will continue to identify what we need to do it alone and that we can do through partnerships, both strategic in nature, as with Lagardère Services, or Screenrush SFR, or commercial, as with Apple, which a dedicated space in stores.

When do you expect to see the first results of this new strategy?

The first effects will be felt in the second half of 2012.Our aim is then to find a sustainable and profitable growth in France and abroad.

The sale by PPR of Fnac it not only jeopardizes the implementation of this plan?

My mission is to ensure the economic development of the Fnac. Since 1994, the PPR Group has played a leading role in particular for the implementation of the Fnac outside France and its growth on the Internet. As it does for all its businesses, the PPR group will manage the Fnac as if it had intended to remain within the group. Proof: This strategic plan is not a buildup of short-term, but a plan of conquest.

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Far ahead of London and New York, Ile-de-France is the first tourist metropolis in the world. It is also the first French economic region, with a gross domestic product (GDP) alone accounts for 4% of GDP in the EU! Pride of place, then, but a place increasingly challenged: Paris is losing market share, overtaken by Singapore, Vienna or Barcelona for the organization of congresses. 26 billion euros in 2006, business in France has fallen to 14 billion euros in 2010, according to a barometer American Express. For Bercy, so it was now "urgent to take measures to enable the Grand Paris to retain its preeminence."In February, Christine Lagarde, Minister of Economic Affairs, and Frédéric Lefebvre, Secretary of State for Tourism, has commissioned Gilles Pelisson, Accor's former boss, to develop a precise inventory of the situation and formulate proposals improvement. The report presented yesterday – titled "Business tourism in the Greater Paris: a new ambition" – recommends a score of practical measures, which include both travel, equipment, reception conditions, the organization but also taxation.

Priority to the CDG Express

"Paris is a destination that is well and is efficient in terms of reception bad credit pay day loans. But in a world that moves, other destinations are on the rise, said Gilles Pelisson. A number of handicaps and weaknesses that passed before will be more crippling future. "Her number one priority is to CDG Express project."Like the great European cities, Paris should have a direct fast with its main airport, it said in its report. The project, in the form of public-private partnership of the CDG Express, should be released: it will in the near time horizon (2015-2017) to connect directly (19 minutes) Roissy to Gare de l'Est. "

Paris also lacks large rooms. "There is only one large auditorium of 3000 seats, while most major cities have two or three," said Gilles Pelisson, convinced that it also lacks "a few thousand hotel rooms "and" 100 to 200 employees "to improve service to the border police at Roissy-CDG."Small things" could also make life easier for tourists to encourage taxis to be equipped including electronic payment terminals or negotiate packages for some races (CDG-Villepinte, for example).

Nearly 150 tail. Visitors to the Paris Air Show crowd to reach a huge tent, mounted at the end of the area dedicated to the 150 aircraft on static display. The tent is home to the Solar Impulse, the solar airplane pilot Bertrand Piccard and André Borschberg. It is the guest of honor at Le Bourget. The aircraft, powered by the energy collected by solar cells that dress, fascinates the public. The bird-dragon has a funny look with its size equal to that of an Airbus A 340, light weight (1.6 tons), its four propeller engines of 10 horsepower each, the power of a scooter and its narrow cockpit. André Borschberg spent sixteen hours to bring the Solar Impulse from Brussels to Paris on June 14. Since the device did not fly, rain and especially wind thwarted the schedule of demonstrations.With the return of calm and sunny, the Solar Impulse could fly this weekend. "It was important to return at the Bourget six years after the first presentation of the project partners – Solvay, Deutsche Bank, Omega and Schindler," says the duo.

Total Call

We are far from the early 2000s, when Bertrand Piccard was looking for funding – 100 million Swiss francs – to launch the project after the Ecole Polytechnique Federale de Lausanne was funded and entrusted to André Borschberg the first feasibility study. But the duo sticks to the motto of Jules Verne: "All that is impossible to follow."

In 2004, Dassault Aviation hear about the project. The aircraft manufacturer will not money but the brains of its best engineers to the project, becoming the "manufacturer's advice.""Dassault was the guardian of the real aircraft," says Bertrand Piccard.

Today, the project entered a new phase. The assembly of the second device begins next week in Duebendorf, near Zurich. "It looks like the first by its general shape and appearance. Its scale will be greater, between that of A 380 and B 747-8. It benefits from technological advances, a new engine, a different type of solar cells, "says André Borschberg.This engineer, former fighter pilot and businessman, pilot of Solar Impulse, alternating with Bertrand Piccard, a psychiatrist by training, aeronaut – he managed a tour of the world by balloon in 1999 – and a descendant of a pioneer family in the air and under the sea

Solar Impulse with the second, they hope to make long flights in stages over four to five days in a row, with the ultimate goal of a successful world tour "without fossil fuel or pollution." "The world is full of big problems that are costly and discourage," said tandem. "Aviation can provide innovative solutions by showing that renewable energy is possible. They are a source of diversification for the oil and future growth, "Bertrand Piccard is developing. The Solar Impulse is "the best vehicle for that message."The recent acquisition by Total of Sun Power, the California company that produces solar panels of the Solar Impulse, "is a good sign," said he calling Total to partner.

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Just over five years after his return on the stock market, Legrand decided to convene today to financial analysts to present the group's prospects in the medium term. The meeting is held in Limoges, where Legrand has one of the French centers of research and development and a "show room" where he can show his skills in home automation and home assistance.

Legrand is a leading electrical and digital infrastructure in the building. He directed last year's 3.89 billion euros in turnover. Its products are the most visible switches and outlets, but it has extended its offer for several years in the areas of home automation and energy efficiency. Elements that have enabled it to deliver excellent results. And it's not over."We set targets in the medium term annual growth of our average total turnover of 10% and an adjusted operating margin averaged 20% after acquisitions," said Gilles Schnepp, Chairman and CEO Legrand.

To achieve this, the group is a clear acceleration of acquisitions. "Until now, we spend an average of 200 million euros per year to our external growth strategy, says Gilles Schnepp. Now, we have increased the amount to 400 million euros on average per year. Over the past twelve months, we completed seven acquisitions as well, especially in the new segments. "

Focus on emerging economies

The target group now two types of companies. First, the actors in the new economies. "We are already present in these countries. For example, we established in Brazil since 1977.Emerging economies now account for 35% of our business, but we want to increase this share to 50% within five years. "The group also wants to develop or strengthen in new segments. Home automation is to say the pilot via a digital interface functions as diverse as lighting, heating, opening and closing of the shutters or video monitoring of visitors, is in a. Other preferred areas: systems to improve energy efficiency or the digital infrastructure. These activities already account for nearly 20% of its sales and growth is more important than more traditional trades.

This dynamic policy of acquisitions can be done without recourse to debt. Funding is made possible by the structural improvement of the group's ability to generate cash."Five years ago, cash flow (cash flow) of Legrand represented 6% of our sales, says Gilles Schnepp. Last year it had risen to 13%. "

A change made possible by an improvement in its processes, including the decline of its product platforms, much like in the car, or shortening the development time of its products.

Performance that does not go unnoticed by investors. In five years, the stock has gained 49% while the CAC 40 sold 25% over the same period.

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.