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It was, we had warned at the Elysee, to "gather the international community behind the Libyan authorities to help them succeed in the reconstruction of a new Libya." Ambitious goal of the conference of "Friends of Libya," held Thursday, will have almost been reached, at least in terms of number of participants. Sixty delegations, countries or organizations have responded to the invitation launched by Nicolas Sarkozy, in tandem with David Cameron. An initiative no later than last week, so "with the desire to move quickly to engage the clutch in this critical transition period," noted one in the entourage of Nicolas Sarkozy. Implicitly, participation in the conference meant for those who came, a recognition of the new government of Libya.The step was taken, in extremis, by Russia on Thursday while Algeria, home to the family Gaddafi has promised to do. Alger, whose attitude was described Thursday as "ambiguous" by Alain Juppe, was represented by its Foreign Minister, Mourad Medelci. Going slightly, too, China has nevertheless sent a deputy minister Thursday at the Elysee. One notable absence, South Africa, dissatisfied with the intervention of Nato. The African Union, although represented, also known as not yet ready to recognize the CNT.

Stabilize the country and standardize its neighborly relations will not be any challenge for the new Libya. The fighting is still pending. "The fortunes of war can not be reversed, but the strength of pro-Gaddafi nuisance, including snipers, remains important," notes do you as president.NATO strikes will continue "as long as necessary," warned David Cameron.

Even before the reconstruction of the country, relief was on the menu of the Paris conference to try to overcome the lack of water, electricity and fuel. Immediate needs for which funding must be provided by the thaw immediate $ 15 billion of assets Gaddafi clan abroad, including $ 1 payday loan lenders.5 billion in France. The two main leaders of the CNT, Moustapha Abdeljalil and number two, Mahmoud Jibril, a French plane went for Thursday morning in Benghazi, presented their priorities for reconstruction.

Form an "effective policing" and "democratic"

The main challenge will be the establishment of democratic institutions.To the powers that "accompany" the renaissance, it will be mainly to avoid the excesses of a scenario in Iraq or, even more formidable, in Afghanistan. "Nothing can happen without forgiveness and reconciliation," warned Nicolas Sarkozy. The "road map" institutional CNT expects over eighteen months, the establishment of a provisional government, a Constituent Assembly and the adoption by referendum of a constitution, followed by general elections. But the project is far from being finalized. Already, the European Union was prepared to assist the new authorities to form an "effective policing" and "democratic", said Thursday its chief diplomat, Catherine Ashton. At the request of the CNT, Ban Ki-moon proposed sending a quick UN mission.A few dozen men, and even a few hundred, they could stabilize a country the size of France three times? The question will arise, as was the collection of weapons distributed in abundance and that of Islamism. Risk dismissed out of hand in Paris, where it is stated that "there may be small groups but that does not represent Islam in Libya or a sensitivity or a significant threat." The group of new friends in Libya will be judged on his next visit in late September in New York. Nicolas Sarkozy has finally provided to want to go to Tripoli with David Cameron when the CNT will be installed.

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More calm, but not necessarily the trees that ascend to heaven. That's the feeling of professionals after a first half that gave them turn cold sweats and serious blows hot. Wall Street has ended sharply higher Friday, reassured on industrial production in six months and the CAC 40 gained 5%, not bad. But the last six months have not been a straight line, making investors 'waltz' sectors in their portfolios over the month. Next? The majority of the fifteen institutions we surveyed supports the actions. A conviction is not new, six months ago the answer was the same as other financial investments lack of prospects. But no one still believes in a peaceful market."The agreement to be on the U.S. debt ceiling will take over any concerns, we can expect markets corrugated iron over the summer," warns Edmond de Rothschild AM.

The jolts are therefore likely to be numerous. "Be a little patient and wait for the summer," advises Pictet. For individuals, two solutions: building a portfolio, forget the frenzy of the CAC 40 and look at the long-term performance by focusing in the range of performance. Or take advantage of periods of decline to make purchases with it like the pros. "The economic environment is still fragile and volatile, we remain cautious and prefer shopping on the decline," said Franz and Wezel at Axa IM.

Be opportunistic

Experts predict on average a CAC 40-4172 points (4%) in late December, while it has risen above the figure of 4,000 points Friday faxless cash advance.If these forecasts prove correct, 2011 would be a good year. This scenario is nevertheless undermined by the U.S. economic slowdown and the state of public finances in Europe and overseas. "Historically, growth slows sharply when the public debt ratio exceeds 90% of GDP. This will happen in many countries in the coming years, which will eventually be detrimental to the equity markets, "said Pierre Sabatier in Primeview. In this context, some sectors such as electricity producers and telecom operators, are considered sensitive by Pascal Heurtault Aviva Investors, their operating conditions can deteriorate suddenly due to changes in regulations.

Finally, the first half was disappointing those who had bet on emerging stock markets. Should we return to these places? "No.They always treat with a bonus to unrealistic expectations of growth without any problems, "says Alain Bokobza at Societe Generale in which inflationary pressures are still weighing. The development of emerging economies, however, makes it increasingly difficult global analysis. "We can target a few countries like China or Indonesia but staying away from Brazil and India," says Pictet. Others believe the potential of Russian actions. Schroders recommends devoting 15% of the pocket to the emerging international equity.

He is a former President of EDF, which says: "the time of abundant and cheap energy is gone forever," regardless of the source also of production (nuclear, coal, renewable …). This trend is very concrete bed on the customer bill. For the sixth consecutive year, the electricity tariff increase for individuals this July 1. The increase, announced last April by François Fillon, was 2.9%, add up and sees the increase in regulated prices (+1.2%) and social contribution to the utility of the electricity (+1.7%).

Never turned off, the debate on electricity prices could go back with a vengeance. Because it is now the law comes into force Nome (for "new market for electricity"), a text adopted last December to boost competition in France.It provides EDF sells – at a competitive price – a part of its production to its nuclear rival and then market it themselves to their customers. The law, presented as a revolution for the French market for energy, should have an impact on household bills on the rise … (see below).

Consumer associations do not took off against the past and future inflation. And not just the base rate which is spoken more often. They also stigmatize the progression of other line items to the consumer, usually taxes which EDF is primarily a collector.The social contribution to public service electricity (CSPE), to finance the development of renewable energy is particularly concerned.

Constable sector, the Commission for Energy Regulation (CRE), notes that the increase of the CSPE is "a reflection of reality": "between the development of PV, even if it has been streamlined , and the planned offshore wind, the grant of these industries will weigh on consumers sustainably. "

35% cheaper than in Europe

EDF does not underestimate the different foci of controversy. But hammers another reality, "the debates on the amount of rates must not forget that thanks to its nuclear fleet, EDF has an electricity about 35% cheaper than in other European countries," explains Philippe Monloubou the Director of the electrician trade.

Price is not the only subject of debate.The complexity and therefore the lack of transparency perceived by customers, is another. "In a market open to competition, it is desirable to improve the readability of the invoices," encourages the CRE. The extension of the smart meter Linky – now being considered by the government after the experimental phase – could bring more serious. "The electricity bill will not be established on the basis of an estimate but on actual consumption. This will avoid many problems ", says Philippe Monloubou.

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While the hypothesis of a failure of Greece wins the minds, the Belgian Finance Minister Didier Reynders warned against the consequences of such an event. He said the risk of contagion is real.

In an interview with The Tribune launched the minister: "If Greece was the first to default, then eyes would turn to other countries such as Ireland, Portugal, Spain, Italy, can be Belgium but also France. " Didier Reynders also points out the consequences of the collapse of U.S. bank Lehman Brothers in the fall of 2008, and calls not to "repeat a failure of this type, especially since it could have dramatic consequences for the entire the euro area ".

The minister admits to not "fully understand" the reluctance of some to intervene in Greece in view of the issues collossaux.He recalled that "the euro is a tremendous benefit for exporters first". Didier Reynders said that the necessary funds to Greece are much less than the trillion euros to save banks released in 2008 low fee payday loans.

Voluntary participation of private sector

In addition, the Minister considers that "the Greek budget solution must come from the Greek" before adding "but we also need for Europe to intervene, she put in place appropriate fiscal instruments." Put to use about a private, Didier Reynders said that this must be done "on a voluntary basis." He said that "if we force the banks, it will be difficult to go back and ask for money for future funding."

A view shared by European finance ministers who have opted for the establishment of a second support plan for Greece based on the principle of private sector involvement on a voluntary basis. The details of this aid should be released in July.

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Philippe Bouvard, who recently celebrated the thirty-fifth year of his cult show "The Big Heads", decided to re-enlist for at least two additional years. Christopher Baldelli, CEO of RTL Radio has renewed his confidence and the host star, 82, has agreed to hold the antenna every day from 16 to 18 hours at least until June 2013.

Centerpiece of the grid of RTL, "The Big Heads" every day brings more than 2 million listeners. For the station, this show is one of the great crossroads of hearing of the day, with the prime time of the morning. She is also a good advertising hub.

A true family

"There's a real family" Big Heads ". We do not laugh a whole two hours throughout the year without creating a real complicity, "explained Philippe Bouvard to the" Media Buzz Orange-Le Figaro, on 31 March.The family of "Big Heads" brings Jacques Maillot, Bernard Mabille, Jean-Jacques Peroni, Pierre and Chantal Bellemare Ladesou. Getting on the air for the first time on 1 April 1977, the program has undergone various developments. At the end of 1999 the management of RTL decided to dismiss Philippe Bouvard this issue to entrust to Christopher Dechavanne. The host of "Big Heads" has responded by passing the competition on Europe 1. Accordingly, the hearing of RTL has suffered a net air hole. Philippe Bouvard was recalled on the radio channel by Axel Duroux in February 2001 to regain control of the "Big Heads".

Moreover, another pillar of the first station in France, Jean-Pierre Foucault, asked the direction his daily show "Good touch" he co-hosts with Cyril Hanouna, goes biweekly rate.This game receives almost two million listeners each morning from 11 h 30-12 h 30.

Cyril Hanouna, the accomplice of Jean-Pierre Foucault, will be assigned to new projects, in addition to "The correct key." In the meantime, he held all summer about the same time slot with the show "RTL vacation" from July 11.

To reach its target of 7.5% deficit in 2011, Greece has no choice: Time to austerity measures. The rating agency Fitch has warned the country by cutting three notches last Friday's note from the long-term debt. And Minister of Economy and Finance, Christine Lagarde, has assumed the garb of Director General of the International Monetary Fund (IMF) which is designated as a favorite, calling for "results" to Greece.

Recognizing that international creditors are losing patience, George Papaconstantinou, the Greek finance minister, said Monday night after the cabinet meeting, the first wave of privatizations. The state holdings in the capital of the telecom operator OTE and the Postal Bank owned 16% and 34% by the state, will be sold by the end of the year.Management companies in the ports of Athens and Thessaloniki and the Water Company of Salonica, which owns 75% and 74% of capital will also be sold.

Continue the fiscal consolidation program

In the end, the government hopes to draw 50 billion of those sales. What he could save the payment of three billion interest per annum on the debt. The details of the new consolidation program will be released after the completion of the Troika mission and after consultation with all Greek political parties, "said George Papaconstantinou payday advance online.

Greece also plans to pursue "the fiscal consolidation program by taking additional savings or new revenues on 6.4 billion euros."Among them, lowering the number of contract of civil service, increasing the working time of employees to 40 hours per week instead of 37.5 hours or even tougher conditions for obtaining unemployment benefits. Chapter tax, Greece plans to lower the ceiling for exemption on the income tax, increase taxes on the trappings of wealth (yachts, luxury cars and swimming pools), to increase taxes gas, soft drinks and car registrations.

The Athens Stock Exchange lost 1.50%

With these measures, Greece hopes to get the green light from Europe and the IMF for the release of the fifth tranche of aid (12 billion euros) over 110 billion awarded in May 2010 by the European Union, European Central Bank and the International Monetary Fund.Shaken by new fears about the debt of Greece, the Athens Stock Exchange in the wake of other European financial centers, has dropped to 1.50% on Monday, closing at 568.94 points.

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France no longer has the means to cover its territory lines of high speed trains. This is the conclusion arrived Herve Mariton, MP (UMP) of the Drome, in a draft report on the transport infrastructure and presented Wednesday at his colleagues in the Finance Committee in the Assembly.

The debate on the economic viability of all-TGV "is not new. Already in 2007, the pomp of the opening ceremonies of the Eastern line was barely hidden its financial equilibrium. Since the profitability of the branch TGV former cash cow of the SNCF, has steadily eroded in the accounts of the company.The state has passed him by a logic of economic recovery – in 2008-2009, when the lineup of the Grenelle environment – an imperative of budgetary discipline.

And then shortly after Christmas 2010, a Strasbourg-Portbou train took him 26 hours to complete his journey, revealing in full light the glaring lack of investment in maintenance of the existing railway network, may be sacrificed for thirty years the construction of TGV lines.

Deriving from Grenelle, the national blueprint for transport infrastructure (Snit) yet still sees the big picture. In 2030, he plans, believes Herve Mariton, projects that cost a total 260 billion euros, including 166 billion for new developments. The state would take 86 billion to his office.In short, "the total expenditure exceeds by far the means" available.

Example Tours-Bordeaux

For Hervé Mariton, we must make choices and to concentrate subsidies, where Snit conspicuous by its "lack of prioritization. Regarding the new TGV lines, four projects are already committed, for a total cost of 17 billion euros. These include line Rhine-Rhône (Strasbourg-Lyon), largely financed by local and will be inaugurated in early September, the second phase of the TGV East, Britain and the link-Pays de Loire.

The fourth line, Tours-Bordeaux, offers a good illustration of the debate. Of all the examples studied by Herve Mariton is one that offers the best prospects for revenue, up 55% of its investment plan.Yet the financial closing of the transaction, led by Vinci, skates for weeks.

Is it really necessary in these conditions to complete the Bordeaux-Toulouse, Poitiers, Limoges, Paris-Le Havre and other Roissy-Picardie, in short these thirteen other projects in the Snit, more or less begun, and whose total cost is estimated to 86 billion euros?

Herve Mariton questioned. No financial solution will not in fact compensate for insufficient traffic. The public-private partnership which, as in Tours-Bordeaux, involves a dealer (here Vinci) is a financing technique, not a revenue generator.And the ticket price – already felt by consumers as higher than suggested by European comparisons – can not be a more significant adjustment variable.

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Sale-privee.com crosses the Atlantic. To settle in the U.S. market, the group found a prestigious partner, American Express. "We did not go alone on this difficult market, which is very mature, especially on the discount window," said Jacques-Antoine Granjon, CEO and cofounder of sale-privee.com. This online store was established in 2001, owes its success and reputation in particular its deep discount, between 50% and 70% on various products (ready-to-wear, home furnishings, toys, sporting goods, etc.) .In the U.S. market, American Express ensures the reputation synonymous with trust for future shoppers, which is "the key to successful e-commerce," according to the Federation e-commerce and distance selling (Fevad) .

Through its joint venture equally with the American mastodon credit cards and travelers checks, sales-privee.com will have access to a database of 40 million cardholders. One way to advance quickly volumes: "The U.S. market for Internet sales is estimated at tens of billions of dollars. We can claim sales of several million dollars ", announcement, cryptic, Jacques-Antoine Granjon, who does not wish to raise objections.He notes that it is "easier to ramp up U.S. markets mixed as the European continent."

The site should be launched before the end of the year

The result of the collaboration in Europe between the specialist and the specialist maps from storage had to be decisive. American Express has been accompanied privée.com-sale in its development in Germany, Spain, Italy and Great Britain in recommending the merchant site to its cardholders.In June 2009, both partners were already expressed their satisfaction, the average basket of American Express holders are 20% higher than average membership sales, private, and they were already considering "new opportunities for collaboration."

For its domestic market, American Express has selected the French group among all e-tailers in the world, preferring including world number two (by sales), the American Gilt. "The European brands are very interested in the possibility of destocking in the U.S., where they are appreciated, but where competition with their stores is less important than in Europe," said Jacques-Antoine Granjon. The site should be launched before the end of the year, under a name still unknown, but the model has developed private-sale in France and Europe.That of logistics and integrated customer service and above all a lasting relationship with the brands extended to the end customers, members. They are more than 9 million in France and 13 million in total in Europe (Germany, Spain, Italy, Great Britain, Austria and Belgium). Profitable since 2004, the second most visited site in France (1.3 million visitors per day) by classification of Fevad, plans to exceed one billion euros in turnover this year.

Increased partnerships

Even if the group has been profitable since 2004 and a profit of about 6-8% of turnover every year, it remains hostile to large acquisitions. Unlike its competitors, because eBay has bought German Brands for Friends (150 million) and Amazon Buy Vip Spanish (70 million). Sale-private partnerships rather multiply all kinds.He thus announced Tuesday an agreement with the land Hammerson, which operates seven shopping centers French. Gift certificates purchased on the site can be spent in shops partners, as also the site Groupon, for example. Sign that the convergence between business and e-tailers began.

The sensational espionage case that shook Renault continued on Sunday to "deflate". One of the three security officials of the automotive group into custody-to-view this weekend, Dominique Gevrey, was indicted for "organized fraud" and imprisoned following the dismissal last January three group executives for espionage.

Two other officials cautioned to view this weekend, including the director of security and close to Carlos Ghosn, Remi Pagni, however, were released Sunday morning, without any charges being brought against them.

The two frameworks safety first taken into custody-to-view, and Marc Dominique Gevrey Tixador, both authors of the report which led to the dismissal of three employees, have so far refused to reveal the name of the informant the source of accusations of espionage.By the reckoning of Renault's lawyer Wednesday to Europe microphone 1, the automotive group has paid an amount "of around 250,000 euros" in this anonymous informant, through an intermediary agent of a private company intelligence, to collect data that led to three dismissals.

Renault claims a "manipulation"

Renault's lawyer, Jean Reinhart, said the group will speak on Monday, probably in the afternoon, "by taking a long and detailed speech" that must be followed statements of expected attorney Republic.

The group claims not to know either the name of that source, and have asked the two security officials, "who are only to know, to deliver his name and address to the investigators," said Renault's lawyer .This same source who gave Renault numbers of three bank accounts which was based on the automotive group to accuse the three executives have coined strategic information on the program of Renault's electric vehicles.

However, investigators of the Central Directorate of Internal Intelligence (DCRI) claimed last week they had found "no evidence of bank accounts" on behalf of these employees, nor "any evidence of espionage." As a defense, Renault now evokes the idea of ​​a "manipulation". In an interview with Le Figaro, the number two carmaker, Patrick Pelata, said that if this hypothesis was confirmed, "Renault will be attentive to repair any injustice."He also designated himself as a scapegoat, saying the group will draw all the consequences of this case until the highest level of business is to say to me ".

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The insurance industry is not in great shape. After Groupama, which unveiled a 41% drop in its profits in 2010, AXA announced a withdrawal of 24% of its net profit to 2.749 billion euros last year. Analysts were expecting better. A host of unusual items negatively impacted earnings of the insurer in 2010.

Starting with a transfer of activities in the United Kingdom, which generated a loss of 1.478 billion euros for the group. Excluding this exceptional item, which had already been recorded in the first half results, net income would have risen 18%.

On the other hand, the operating profit was down 3% to 3.88 billion euros against an average expectation of 3.927 billion.This indicator has been particularly affected by the asset management division, whose operating profit drop 26%, itself struggling with a negative tax base effect and a provision passed in the U.S. subsidiary AXA Rosenberg. Branch damage shows a less marked decline of 2%, following a slight decline of 0.1 points in the combined ratio (cost of compensation claims and general expenses to premiums collected), which reached 99.1%.

The overall turnover is up slightly from 0.9% to 90 personal business card.972 billion euros, but again, the insurer has missed the consensus.

Up 25% dividend

However, the group is optimistic for 2011."Axa is expected to benefit in 2011 of the gradual improvement of macro-economic outlook" and the insurer intends to focus "primarily on accelerating profitable growth and productivity gains in all our business lines "according to CEO Henri de Castries. Investors and analysts will still have to wait until June for Axa communicate the detailed objectives of its strategic plan to 2015, called "Ambition Axa.

In addition, the group decided to encourage its shareholders by granting them for 2010 up 25% of the dividend to 0.69 euro. This decision could support the price of Axa, which has taken more than 25% since early 2011 when the insurance group has lost nearly a quarter of its stock value last year.

As expected, the title insurer withdraws from 1% in early trade and sign one of the largest drop in the CAC 40 which advance it by 0.1%.

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