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Shortly before the start of the session in New York, the index futures Standard & Poor's 500 and Nasdaq 100 declined by 0.26% to 1169 points and 0.77% at 2122.50 points. The Dow Jones was approached for its small down from 0.13% to 11,253 points.

After aligning the day before a third consecutive session, the U.S. stock markets may experience a more mixed session on Thursday. As of Wednesday evening, the title of Apple, the Apple brand famous plunged 7% in electronic trading after the close of trading in reaction to the departure of the group's founder, Steve Jobs, Tim Cook replaced by .

So that investors may enclose the value seriously, now, from the beginning of the session. The stakes are high for Apple.On 9 August, Apple had a happy time oil giant Exxon Mobil's first-place capitalization in the world in full trading day before falling on the second step of the podium.

Unemployment menu

In terms of macroeconomic indicators, the weekly jobless claims, which will be published before the start of the U.S. session at 2:30 p.m., will also be monitored. A consensus of analysts expected a slight decline to 405,000, against 408,000 previously.

Wednesday night, orders for durable goods in the United States had rebounded in July, prompting stock markets to rise, on both sides of the Atlantic. "But the indicator of business spending showed the U.S. economy remains fragile," do, however, keep stock analysts from Barclays.In a context marked by the end of the indicators is misguided, or worse in reality than it seems, investors are on their defense.

Meanwhile Jackson Hole

Especially since tomorrow is Friday that Ben Bernanke will speak from Jackson Hole this Friday at 16:00. We will then know whether a possible third last monetary easing, on which markets have been speculation this week, will be decided. Alternatively, investors can look forward to continued low interest rates likely. The second estimate of U.S. GDP for the second quarter will also be unveiled.

The growth rate of the world's largest economy in the spring, which had greatly disappointed a month ago, could then be revised down 0.2 percentage point to 1.1%.

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. "

Overtax businesses too generous with their leaders. The idea was launched by Prime Minister Francois Fillon in an interview published Saturday in Nice Matin: "With the government, I think about a device that is to overtax the companies issuing exorbitant fees."

The head of government is responding to the proposal of Xavier Bertrand, Minister of Labour and Employment, to "tax" or "frame" the "extravagant salaries." It lampooned in an interview published Thursday by Les Echos code of conduct drawn up on the subject of big salaries. "Write a code of conduct is good. The enforcement is better, "he said. Considering that some large companies did not comply with these principles, the Minister has threatened to legislate on the issue.

Shocked by some earnings

In Nice Matin, François Fillon rejects such an approach in trying to punish companies through a tax rather than the bosses through a ceiling unsurpassable. If it says "shocked" by some remuneration of senior executives, the Prime Minister "not [believe] not the regulation of wages for some totally disconnected from economic reality of the business and wage negotiations." However, he called the companies to regulate themselves. If they do not, the government will make decisions, he added.

The salaries of officers of the CAC 40 rose 19% in 2010 compared to 2011 according to a study of the expansion. Their average salary was 4.2 million.And increases do not always correspond to performance industrial markets.

No revaluation of the minimum wage

François Fillon said in the same interview in Nice morning that there would be no boost given to the minimum wage at its next revaluation. "Today, it would be an economic mistake. This will overwrite the hierarchy of wages and would drive up labor costs and thus unemployment, "he justified.

François Fillon has argued that "before 2000, the labor cost of products manufactured in France was on average 15% cheaper than in Germany."However, "since the 35 hours, this advantage was lost in some sectors such as agriculture and services, we are overtaking Germany," he said.

According to the Ministry of Labour and Employment, the next automatic adjustment of minimum wage-price inflation when the achieved 2% since the previous revaluation, "could take place" in August.

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Click image for larger graphic.

The post of IMF managing director will be between the Mexican Agustin Carstens and the French Christine Lagarde. On Friday, the third declared candidate, the Kazakh Grigory Marchenko, threw in the towel … As the former Minister of Finance of South Africa, Trevor Manuel, whose name was cited, he said Friday that it was beyond not in the race.

Friday night, the closing date for applications, no other competitor had not said. A surprise could only come from a night deposit: Applications must arrive before midnight, Washington time – or 6 o'clock in the morning in Paris. The IMF plans to publish the names of candidates early next week, if there are three or fewer candidates.In the event that other names would arise, the Board shall give one week to agree on three people, the best position, he will request a hearing in Washington. The appointment must then occur before the end of the month.

"We clearly have two outstanding candidates," said Domenico Lombardi, an economics professor and former adviser to the IMF. Agustin Carstens is a candidate who has experience, combining four and half years as head of the Ministry of Finance and Central Bank of Mexico. He also plays the card of emerging countries. But French is still the favorite to succeed Dominique Strauss-Kahn to head the international organization.People as influential as the German Chancellor Angela Merkel, Italian Prime Minister Silvio Berlusconi, British Prime Minister David Cameron or the Russian Prime Minister Vladimir Putin himself has publicly supported. Interpersonal skills in major international summits in recent years of crisis, has left its mark need a personal loan with bad credit.

Operation seduction with emerging

Christine Lagarde is assured of winning the votes of Europe, which represent just under a third of votes in the IMF, the Americans, who own 17%, will act as arbitrator. Officially they have not taken a position, but the Secretary of State Hillary Clinton said, personally, that Christine Lagarde would make an excellent director. Friday, finally, Africa has expressed support for the French.

An election would have the widest possible more panache.Why the French minister – as its Mexican competitor for that matter – has launched a huge operation seduction, these days, with emerging countries. Brazil, China, India, she gave pledges, while they want to question the tacit division of positions that enabled Europeans to lead the IMF and Americans to chair the World Bank continuously since 1946. None of these great country has officially declared for the moment for either candidate …

Remains the shadow of the Tapie affair. If Christine Lagarde said to be "very calm" on the subject and "being aware quite quiet, nobody today can predict that will turn the proceedings. On Friday, the French court postponed to July 8 decision on the possible opening of an investigation for abuse of authority.Christine Lagarde said on the sidelines of the annual meetings of the African Development Bank in Lisbon, that the postponement of the decision "does not change anything." At that time, she hopes to be already named yet … Some speak of a "time bomb".

A man at the crossroads of the worlds of music, technology and business. Norio Ohga, father of the "Compact Disc" and former boss of Sony, died Saturday at age 81. It was as boss of the Japanese consumer electronics that monitors closely the birth of the CD with its Dutch partner Philips in the early 80s. He insisted then that the disc 12 cm in diameter can hold 75 minutes of Beethoven's Ninth Symphony.

This commercial success and technological, which then lead to the emergence of DVD, will remain as the main weapon is to Norio Ohga. But it should not overshadow his work as head of Sony. "He transformed the Japanese conglomerate manufacturer of electronic products in a firm's creative music, movies and video games," says the Wall Street Journal."We were always digging the tracks that other groups did not dare to follow," explained Norio Ohga in 1998. "This is the real secret to our success."

Explosive path

His entry into the firm, like the rest of his career then detonates. Student in musicology at the University of Tokyo, in 1953 he impressed the executives of the firm which became Sony in a letter advising them of improvements to the prototype of tape. Hired as a consultant, Norio Ohga follow a rapid and brilliant trajectory within the company. He became one of the executive directors from the thirties, something extremely rare in Japan. In the '70s, he led negotiations with CBS that will lead to the creation of Sony Music Entertainment and will lead.

President of Sony from 1982 to 1995, Norio Ohga innovates. It supports the development of the Walkman, launched in 1979.In 1989, he led the largest acquisition at the time a Japanese firm abroad by offering the Hollywood studio Columbia Pictures for $ 3.4 billion. This maneuver discontent across the Pacific. Rumors will ever drive on the possible resale activity, difficult to make profitable. The real stroke of genius of the president Norio Ohga is unquestionably won his bet in video games. In the early 90s, he in fact supports the launch of the Playstation division within the group. It is now one of the largest departments of the group.

Debonair boss

Nohga Norio, Japanese boss atypical-described good-natured, not shy, and has an artistic temperament, however, has not as successful. Shortly after the launch of the CD, and it fails to impose its Betamax video format against HSV.Advisor to Sony these days, he could only see, in recent years, the cons-performance of its group. Sony did not see coming the success of the flat screen and has lagged behind its South Korean rival Samsung. In video games, Nintendo has his compatriot hewn cruppers. Even in the music industry, the Japanese has been exceeded. By innovations from Apple this time.

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It is an upheaval of the income tax system proposed by the PS in trying to merge the CSG with the Income Tax (IR). The goal? Make the tax more progressive, plain heavier on high incomes. The idea of ​​merging IR and CSG is not new to the SP. It has even been raised right by Jean-Francois Cope last year! But the work of economist Thomas Piketty gave new vigor. In his book published in January showed that the French Piketty modest pay more taxes as a proportion of their income than the wealthy. A demonstration challenged on the right but the left back.

Why the fusion of IR and the CSG system would make it more redistributive? Because for the Socialists, the new tax scheme would work with the "progressive" of IR, not with the system "proportional" to the CSG.The scale of the IR is called progressive because the more money a household earns, the higher its tax rate is high. Thus, a household with annual earnings per share are € 10,000 is taxed at 5.5%. One whose annual income per share is EUR 100,000 pay 41% of IR's revenue above 70,830 euros. Conversely, the CSG is Proportional: whatever his income, a taxpayer pays 7.5% of his salary in CSG.

But today, the couple CSG and CRDS weighs much heavier than IR: EUR 88 billion against $ 47 billion. Explanation: While the CSG hits all incomes, IR is paid by only half of the homes and is being limited by tax loopholes. Direct taxes paid by households are no longer quite progressive, as the PS. Hence the radical proposal to merge IR and CSG.A proposal which would be consistent with a direct levy of tax on the pay slip and a continuation of benefits for family of IR today guaranteed approval cash advance loans.

A strong political choice

It is therefore a strong political choice, that of increased taxation of the wealthy. Similarly, the PS wants capital gains, dividends, stock options, now taxed at 19%, are taxed at the scale of the new tax. That is up to 41% or more if a new slice is created, what is envisaged. "We need capital income are taxed as labor income," argues Michel Sapin. Furthermore, the SP wants to remove more than 10 billion niche, adding another all taxes. And nothing says that the purchasing power of middle class will be preserved. The end of the reduced VAT in restaurants is not going in that direction. Above all, the socialists want to cancel the tax measures passed in August 2007.Now it appears the exemption IR overtime, which benefits lower income households!

Finally, the SP wants to adjust the VAT on the basis of green products. A priori, this VAT reform should not cause tax increases … This is true also that the proposed corporate tax rate (20% if profits are reinvested, and 40% s 'they are redistributed to shareholders, against 33.33% today). But overall, the proposed tax bill increases the PS business. Particularly because it is 7 billion tax replacing the business tax.

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The consumer wins a round face Free. The Tribunal de Grande Instance de Paris ruled in favor of the association UFC-Que Choisir ordering the service provider (ISP) to "stop a number of illegal practices" and to delete from its general conditions of sale particular clauses considered "unreasonable". Free society was ordered to pay the Consumers' Association the sum of 50,000 euros in damages. The Iliad, the parent of Free, did not wish to make comment.

Free will and remove certain "terms and conditions of the offer triple play (internet, telephone, TV), its brochure and pricing of its website," "multiple practices" are also involved, said to AFP Nicolas Godfrey, a lawyer by the UFC-Que Choisir.This underlines that the court found that "the presentation of the payment method seemed misleading to the consumer and guided him to direct debit low fee pay day loans. In addition, Free "billed additional charges if you choose to pay by check or credit card, which the court found unlawful."

Moreover, the consumer association was clearly engaged "in terms of termination to deferred collection for us," said Nicolas Godfrey were a semantic loophole (to apply a termination fee) and that the court well recognized as such. " The court's decision thus gives consumers "the ability to challenge the billings already made or those coming for those who terminate on the basis of the VAT hike," said the lawyer.Mobilization of consumers had already resulted in early, to thwart the rising prices of certain operators, such as Bouygues, in response to the VAT hike.

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While the country remains on alert this morning after a second explosion at the nuclear power plant in Fukushima Daiichi, the Bank of Japan (BoJ) to take exceptional measures to counter the effects of the disaster in the economic and financial systems. The BoJ has in effect this morning to four injections of cash for a total of 15,000 billion yen, 175.2 billion euros. The institution hopes to support the markets with its massive influx of cash.

His intervention had immediate effect on the yen, which fell abruptly when he was mounted in the early morning. The Nikkei index of Tokyo Stock Exchange plummeted finished him sitting on a decline of 6.18%.The volume of transactions reached a historic high on Monday to the Tokyo Stock Exchange, with over 4.88 billion shares traded on the primary market, representing more than 2.5 times the average normal. The Tokyo Stock Exchange has nevertheless been valuable to rate.

Automotive and nuclear values ​​fall

The share of the company Tokyo Electric Power (TEPCO), which operates nuclear plants in trouble, was particularly affected, it lost 23.57%, all holders of securities rushing to sell. The values ​​are also among the automotive titles most penalized Mitsubishi Motors plunged 10.9% and Toyota 8.1.

Indeed, many Japanese companies are facing serious damage on their production sites.Honda, Nissan, Toyota, Sony, Mitsubishi Motors, Suzuki, Panasonic or Toshiba have suspended their activity in one or more plants.

As for oil prices, they are on the downside on Monday in electronic trading in Asia. A barrel of Brent WTI lost nearly 2% to less than 100 dollars a barrel. The market is worried about a drop in demand in the short term in Japan.

Even if the destruction of the earthquake and resulting tsunami that struck Japan on Friday remain difficult to assess, AIR Worldwide, a specialist in risk assessment, advanced at a cost of $ 34.6 billion to insurance companies.For its part, the rating agency Moody's believes that the consequences of the earthquake and tsunami that hit Japan will be only temporary for the country's finances.

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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.

In a forced march. Less than a month after announcing the opening of exclusive negotiations with U.S. publisher Hearst, Lagardère has completed the sale transaction of its global news division.

According to our information, the operation reached a total value of 720 million euros, 650 million in cash and 8 million a year in royalties under the license for Elle magazine. What credit the women's magazine with a net present value of at least 70 million euros.

Lagardere, which has a framework agreement for this purpose in several countries, will retain ownership of the brand, merchandising and will have a say on the editorial line.

If Lagardère now refocuses on France, it protects the passage of one of its most beautiful asset in the national territory through a licensing agreement with a purchaser Hearst.Finally, Lagardere keeps 30 million euros of real estate that he intends to sell later. The scope of the operation on 102 newspaper titles in 15 countries. Neither Hearst nor Lagardère were willing to comment on the Sunday operation.

This sale is expected to positively surprise the market. Aware of the nuggets of the group as the 42 versions of Elle magazine and the 12 international versions of Psychology, the latter assumed an amount exceeding 500 million euros, but its high estimate never exceeded 700 million. Is roughly the turnover of the international press center, which has 5,000 employees and 58% of the total turnover of the entire magazine division of Lagardère my credit score.The latter amounting to 1.270 billion euros.

Leader

Finally, the United States, Lagardère is also the publisher of prestigious brands such as Car & Driver (1.3 million copies) and Woman's Day (3.8 million). What have raised the stakes throughout the negotiations.

This operation will therefore allow the French group company debt in late 2011 and get him out of an industry where it considers no longer have the critical mass to compete favorably and restructure. In 2009, the victim of a sharp downturn in advertising, more marked than in France International, the group had already sold five U.S. specialty magazines (Popular Photography, Flying, Boating …) to the publisher Bonnier.He had also arrested a half-dozen magazines in the world.

For his part, Hearst consolidates its leading position in the magazine not only on its home market but also globally. The latter has a total turnover of $ 4 billion and employs approximately 20,000 people worldwide. He holds a dozen magazines like Harper's Bazaar – the biggest competitor of Elle – Cosmopolitan, Esquire, Country Living with nearly 200 international versions. If the strategy is clear to the American group, Lagardère will now have to convince his own. Last week, he emphasized his desire to concentrate on its subsidiary Sports Unlimited.

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