As every summer festivals in numbers on the territory have not failed to meet a great public success. However, despite attendance that does not deny, the contraction of budgets of local cultural events to make this worthwhile. For the vast majority of them are "small joint ventures", in the words of Emmanuel Negrier, author of "Public Festivals, tapped in large part by public funds.

According to a study by France festivals, grants from these mainly involved local average for 51% of the resources of these events. "The festivals of contemporary music, which developed later than others, however, are less dependent," says Emmanuel Negrier.To give an example of the financial stability of a festival of medium size, the budget of Auvers-sur-Oise is broken down as follows: 44% public funding, 23% from sponsorship or partnerships, and 33% of own revenue, notably from the ticket.

The counties, which face increasing social spending, have generally lowered their subsidies by 10%. This is the case in Rock en Seine, which begins this Friday with the envelope from the general council of Hauts-de-Seine is dropped from 300,000 euros to 265,000 euros on a total budget of 5 million. "The trend is clearly down government subsidies. In addition to the crisis, the reform of local finances led to a narrowing of the capacity of local authorities to act in the field of culture, "says Emmanuel Negrier. A feeling also experienced Lorient Inter-Celtic Festival."Apart from agreements concluded in three years, we enjoy public support dropped from 10% to 20%. In total, they nevertheless represent 35% of our budget, "says there is no fax payday loan.

Increased use of patronage

What, therefore, to overcome this shortfall? There are really only two main levers on which play to increase revenue: the price of tickets and the development of sponsorship. While the increase in ticket prices is a limited instrument which undermines the availability of a diverse public festivals, many events, however, attempt to play the role of patronage. This is for example the case of Inter-Celtic Festival Lorient or that of Annecy.The Crescendo Festival of Annecy has indeed experienced a revival this year thanks to the donation of 500,000 euros a Russian businessman, Andrei Valeriyevich Cheglakov. "The only thing Andrei Valeriyevich Cheglakov wait in return is the recognition by the Mayor of Annecy festival of this size that has an interest in the city," said Pascal Escande, festival director. This case, however, is very exceptional, "he concedes himself.

Especially in times of crisis, it also becomes more difficult to find private funds. While the vast majority of companies have retained last year an almost identical level of funding, "they tend to focus their actions and be more attentive to their consistency," said Beatrice Menanteau, director of Admical , an association that promotes corporate philanthropy.Above all, it is currently unthinkable in France private funds to replace grants: "In Spain, some festivals are completely private. But their benefits are not equivalent to those of French festivals. Neither stimulation of cultural creation, or access to culture to a diverse audience are possible without the help of communities, "argues Emmanuel Negrier.

No teletrack payday loans offer customers extreme speed in granting, approving and remitting cash advances to cater for any kind of unforeseen financial crisis.

Good news on the employment front. The Labor Department announced Wednesday morning in the Echoes of figures on backup plans for employment (PSE) fell sharply from the end of 2009. In the first half of 2010, 668 PES have been reported to the administration against 934 in the second half of 2009, a decrease of 28.5% over this period. Moreover, the month of June 2010 recorded 87 such redundancy schemes, a level at its lowest since August 2008. The Ministry of Labour, however, did not release the total number of jobs destroyed by these schemes.

This news comes in support of other labor market indicators published recently. Two weeks ago, INSEE reported on the creation of 60,000 salaried positions in six months, one year after 2009 generally very destructive.The use of frames also rebounded since last January found the Association for the executive employment (APEC). In July, the job offers published by the association executives and 53% progressed, mainly in IT and business functions.

2009 catastrophic

However, the decrease in the number of PES remains in place relative to the extent that the figures for 2009 had been devastating: 2,245 plans had been identified during this year particularly affected by the crisis, nearly 2.5 times than in 2007. With already 668 PES 2010 is also unlikely that the number PSE set up in 2010 found its level before the crisis (957 PES 2007).

The explosion, finally, the number of broken treaty in June might suggest that some companies use them in lieu of some PES, although this practice is prohibited by law. In order not to attract the attention of governments and not having to pay compensation in the amount tends to grow under pressure, companies could use this mechanism put in place two years ago, or even layoffs in smaller numbers.

The Paris Bourse ended the session on Monday in the green: +0.8% to 3635.86 points after having doubted almost the entire session. The CAC 40 was indeed long hesitation on the way forward following the release Friday of "stress tests" conducted on 91 European banks and published Friday after the stock market. Only seven institutions have failed, which means a respectable success rate of 92%. However, 17 banks post notes just averages. What a cool little enthusiasm.

Finally, Paris has chosen the rise. Like Wall Street, Friday, which had been optimistic, although Asian markets were more hesitant.

No macroeconomic indicator was expected in Europe.But the United States, sales of new houses in the U.S. rebounded more than expected in June, from 23.6% in May after hitting their lowest level since 1963 at least, but still extremely low, according to official figures released Monday in Washington. The news bolstered Wall Street upwards.

As for currencies, the euro climbed slightly against the dollar: + 0.53% to 1.2980 dollar.

Featured Banks

Who says interpretation of "stress tests", said reaction of the banking sector. At the Paris Bourse, the French banks took off and pulled the score up: +7.75% Dexia, 5.24% for Societe Generale, 3.12% for Credit Agricole, 2.37% for BNP Paribas and 1.91% for Axa.For the Minister of Economy Christine Lagarde, have no fear: French banks have succeeded in "this difficult test with flying colors, with honors.

The car values have also boosted the index: 1.65% for Peugeot, 1.58% and 1.28% for Michelin for Renault.

In red lantern ACC, a troucve STMicroelectronics: 2.34% to 6.34 euros.

Sanofi-Aventis lowered its earnings forecast for 2010

Sanofi Aventis (+0.16% to € 45.58) announced Friday that the first generic version of the anticoagulant Lovenox has been approved by the Food and Drug Administration (FDA). The supply of the generic, marketed by Sandoz in association with the American company Momenta began in the wake of the approval by the FDA.The news had tumbled 4.25% securities at the close Friday because the Lovenox was the second top-selling drug from Sanofi last year. In a statement, Sanofi-Aventis recalls his "reservations" about the approval by the FDA in regard to "patient safety".

The pharmaceutical group revises accordingly its earnings forecast downward, with "an evolution of the EPS of activities for 2010 of between 0% and -4% compared to 2009 at constant exchange rates. A turnaround from last April when Sanofi evoked a growth in earnings per share from between 2% and 5%.In addition, Sanofi would have views of the U.S. biotech Genzyme after the Wall Street Journal.

Fimalac (0.95% to 31.29 euros) on Friday issued after the market closes up its turnover by 6.9% to 443.2 million euros in the first nine months of its 2009-2010 ended September 30.

April Group (1.73%) and Faiveley (-0.29%) publish their turnover in the first half after the stock market. Icade (1.84%) and Klépierre (+0.6%) at the same time unveil their interim results.

The decision does not surprise employees. According to union sources on Saturday, Total has initiated proceedings before the Tribunal de Grande Instance of Nanterre to challenge the decision of the Court of Appeal of Douai forcing it to reopen its Dunkirk refinery. The oil group has assigned Friday the employee representative bodies in order to ask the court not to restart the activity on the site.

Total wants a declaration that the information and consultation procedure has been "completed". And even if the court believes that the procedure was "initiated with delay", Total highlights the fact that "the employee representative bodies have been able to exercise all powers vested in them" and they have suffered "no harm".

"Their last cartridges"

For Philippe Wullens, Delegate South (majority site), this reaction was expected faxless cash advances. Management would have announced in June that it would form a further appeal against the decision of the Court of Appeal. According to Steward, the leaders of Total fired "one of their last cartridge." Roger Koskas, counsel employees, estimates that total attempts to circumvent the decision by the Court of Appeal of Douai. Beside him, his brother, Patrick Tillie declares itself "not too pessimistic."

The hearing will be held September 17. According to two lawyers, Total has so far done nothing to comply with the decision of the Court of Appeal, despite a daily fine of 100,000 euros. For the moment, neither the group nor his lawyers could not be reached.

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lefigaro.fr – What do you think of the interference of government in governance of the France national football team?

Gilles Portelle – A long time ago that politicians are interested in sport and they have a stake. This reflects the place it occupies, in particular football, to our society.

In this case, the intervention of politics does not shock me given the consequences of this crisis for France's image abroad. Recall that FFF, like any federation, a Minister and it is normal that she is accountable. The management of events that took place in South Africa raises more general question of governance of the French sport and the organization of the major federations.The announcement of the Estates General on this theme is a good thing.

Faced with setbacks and non-sports athletes of the Blues, the sponsors have they been right to stop their advertising campaigns?

They had no choice but to do so. Indeed, these campaigns to a positive image around the team of France became totally out of step with the perception and feeling of the French people towards the players. Abrupt withdrawal of these campaigns and promotional campaigns around products bearing the image of the Blues is therefore an shortfall for marks.

The situation is dramatic in her image for sponsors?

What happened is damaging for brands including for those visible on the uniforms of the players were immersed in the heart of images that have shocked the French.A brand joins the sport primarily for the values it carries: the solidarity, commitment, fair play, respect. In other words, the absolute opposite of conduct adopted in South Africa. However, the French are part of things and can not be angry with brands that have expressed their support for the national team. I do not think they will turn away from these brands. They are the leaders and team players in France who are involved, not the team of France itself.

What the sponsors will require the FFF? Would they have an interest in breaking their partnership contract with the Blues?

The partners are entitled to demand explanations and guarantees for the future. Guarantees regarding the introduction of a new sports project and especially behavioral, consistent with the values they wish to associate.Guarantees regarding specific actions that the FFF has taken to improve the image of the group and the institution. These marks do not turn away from the team of France, the French first vector emotional and remains a partner of choice for brands. The Blues can for example TF1 to achieve record ratings, despite the setbacks and non-sports athletes of Team France.

If the conditions are met, they are ready to commit to support reconstruction. The chance of FFF is to have loyal partners, present mostly at his side for many years and are committed for the next four years.The Federation must take this opportunity to rebuild a new crew with new values closer to reality, to retain sponsors or attract new ones.

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Forget the sessions in the red Wednesday. Place in dark green well on Thursday. Markets after the euphoria that led to yesterday's Wall Street close on a rise of 2.25%. U.S. indexes are made by good macroeconomic statistics on housing and automotive sectors.

This morning, the Japanese Nikkei has started the session on a gain of 1.62% and has risen steadily to reach an increase of 3.13% to 9903.75 points shortly before the mid-session. The TOPIX gained 2.42% on his side to 891.14 points. In addition to optimism about the U.S. economic recovery, the rating is supported by Japanese exporters who values this morning, enjoy a favorable decline in the yen. Toyota gained 3.24% and in plenary at 3340 yen, and Panasonic 3.75% to 1188 yen. Around 6:00, the dollar was up slightly to 92.20 yen while the euro rose more frankly, to 113.32 yen.

The Japanese invenstisseurs also anticipate the appointment of Finance Minister Naoto Kan as prime minister following the resignation of the head of the center-left Yukio Hatoyama. Naoto Kan market support measures in the economic positions which are considered by operators reassuring low fee payday advance. Finance Minister calls for a weaker yen, an increase in consumption tax and a cap on the deficit. He is currently the only declared candidate and a favorite for prime minister, who will be appointed Friday.

The rest of the region is bathed in green

In Hong Kong, the Hang Seng turns the page of a tough session on Thursday for an increase of 1.84% at 19,830 points.Ditto for the Shanghai Composite, which gained 0.62% to 2587 points.

In Korea, the Kosdaq is 0.70% to 1268 points, and Australia, the S & P recorded a growth of 2.13% to 4474 points. Finally, in India, Sensex 1.53% allows itself to 16,998 points.

Oil follows the movement

The rise in the markets has also evolved over the crude above $ 73 a barrel in electronic trading Thursday in Asia. In morning trading, a barrel of light sweet crude for July delivery 70 cents to 73.56 dollars, while Brent North Sea with identical maturity, gained 72 cents to 74.47 dollars.

One would have expected a drubbing on the yuan, accused of being deliberately undervalued by Americans and Europeans. It is not. A report that was released on Monday the World Trade Organization (WTO) on China suggests, but is hiding, without taking sides, behind the wishes of the International Monetary Fund (IMF) to see Beijing accept one day to revalue its currency.

For its third report on the trade policy of China since the latter's accession to the organization in December 2001, WTO household Beijing and focuses on her efforts as the conflicts it has caused.

She said she lifted many restrictions on foreign investment in services, telecommunications and tourism, "even if it still exists."

It notes that China is gradually realized the importance of intellectual property while it drops a lot of barriers.

At most, the organization she regrets that the abandonment of government restrictions don not "not so fast for exports and imports. It denounces in particular the prohibitions on sales of raw materials and "give an unfair advantage to Chinese companies." In doing so, Beijing makes them "more expensive for foreign manufacturers and more advantageous for its own factories.

Not a word about Doha

But the WTO recognizes the same time as China, highly dependent on exports, is particularly vulnerable to the crisis in Europe and the United States.She recalled that last year China's exports fell 16% while imports fell by 11%. A situation which, she notes, can be a source of conflict among the members of the organization, adding that last year the Chinese were involved in 15 cases, 4 as complainant and 11 as defendants.

Far from attacking Beijing, the WTO advised rather gradually rebalance its two engines of growth are exports and domestic consumption. But to do so, he must first, she insists, make social reforms in depth, particularly in health coverage and unemployment benefits.

Not a word about the Doha Round trade liberalization, including the Director General of WTO, Pascal Lamy, says he is "stalled", partly because the Chinese.

Meeting in Brussels, the Heads of States of the euro area have finally approved the activation of the financial assistance plan 110 billion euros to Greece three years. Moreover, on a French initiative, they announced the establishment of "a Community mechanism to intervene" to help their country would face financial difficulties and this, in order to preserve financial stability in Europe. More specifically, it would be a fund to help countries threatened to defend the euro.

According to government sources, the European Commission could contribute in the form of loans to the tune of 70 billion euros. The European Central Bank (ECB) will also participate. "All institutions are determined to act," said Nicolas Sarkozy simply at the press conference that followed the discussions."We will not let destabilize the euro zone for behind, there is the growth of European jobs," he said.

The Heads of State and Government decided to convene a meeting Sunday of finance ministers across the European Union to finalize the operation and financing of this novel device, which forevermore assembly developed for Greece . "On Monday, the mechanism will be operational," said Nicolas Sarkozy, sending a signal to markets still very upset.

"We will do whatever it takes to defend the euro," piped up the European Commission President Jose Manuel Barroso.

Pressure on ECB

The other track would be mentioned that the ECB buys bonds issued by states of the euro area, to provide them in exchange for cash.According to the same diplomatic sources, the European Commission would now pressure on the ECB to make sense in a concrete proposal to support the euro area. In their draft agreement, the leaders of the Eurogroup, however, have said they support "full action of the ECB to ensure the stability of the euro area.

Monday, lcette last announced it would accept the Greek debt as collateral for its loans, regardless of their credit ratings. Extending this unprecedented step for all countries in the euro area "would be a strong signal to markets" would have said the president of the European Commission Jose Manuel Barroso. But on Thursday, the ECB said it had not considered.

At the meeting this Friday, the president of the European Central Bank, Jean-Claude Trichet, have estimated that the eurozone faced a "systemic crisis".

Tighten fiscal discipline

The euro zone leaders agree at least on the need to tighten fiscal discipline. A commitment to ensure that "Greece is not only to reduce its deficits, but that we work so that all the Stability and Growth speedy again respected," said German Chancellor Angela Merkel in Brussels. "The leaders will do whatever it takes to meet budgetary targets," says the text of the draft agreement. A penalty system "more efficient" will be established.The European Council President, Herman Van Rompuy, reported that an agreement between heads of state had been reached for "a strengthening of economic surveillance and policy coordination."

Finally the sixteen Heads of State and Government reiterated their determination to "move quickly on the regulation and supervision of financial markets. They also insist on the creation of "a European rating agency.

Barack Obama supports the EU

Moreover, since the White House is that Barack Obama supported the European heads of state on Friday. "I made it clear that the United States supports these efforts and will continue to cooperate with EU authorities and the IMF during this critical period," he said, after talks with Angela Merkel.

American concerns grew at the same time as the market stress. Wednesday, Charles Plosser, a leader of the U.S. central bank (Fed) has assured that "the economic recovery of the U.S. could be delayed by a further turmoil in financial markets. Recent events in Greece are one of the factors likely to influence the evolution of the U.S. economy. "

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The index futures point to a slightly higher opening of U.S. markets. Shortly before the opening of Wall Street, about 12:00 am Paris time, the index futures Standard & Poor's 500 and Nasdaq 100, respectively, progressed from 0.21% to 1186.20 points from 0.15% to 1983 points.

Despite an increase in enrollment weekly unemployment and a shrinking numbers of consumer credit, U.S. investors appear to have courage and choose again, these days, for optimism. They show little worried, finally re-emerging doubts about the ability of Greece to honor its debts. Perhaps partly because, unlike the French or German banks, U.S. banks are not exposed directly to the crisis in Greece.Banks also suspected for 18 of them have, over the last 5 quarters, artificially reduced their debt just before the end of the quarter.

Today's meeting should be calm, however, no new important indicator being waited until Monday, except on Friday, the numbers of U.S. wholesalers' inventories for February, which will be released this afternoon around 16:00 .

Yesterday, while European stock markets in the green-mountain this morning showed an average decrease of 1% of their stars indices, the Dow Jones closed 0.3% awarded in the S & P 500 also, and the Nasdaq Composite 0.2%. One way to greet the rise, much higher than expected, sales of major U.S. retailers: Index by Thomson Reuters, they rose in March by 9.1% against 6.3% expected, the highest since 2000.Taking advantage of some better weather, 28 distributors have seen their turnover increase by over 9% a year, a further sign of improving consumer confidence. Gap saw its turnover grow by 11% against 3.7% expected and Kohl's, 22.5% against 12.4% expected. In the luxury, Nordstrom posted sales up +16.8%.

These values should continue to lead the coast on Friday, and Apple, which yesterday announced a new version of its operating system for the iPhone and iPad, and sales 450 000 iPad since Saturday.

Also to follow, the aviation sector, led from the rumors of merger between U.S. Airways companies (+10.7% at closing) and United Airlines (6.8% at closing), Thursday, at the New York Stock Exchange.UAL (6.75% to 20.23 dollars), parent of United Airlines, is in talks with U.S. Airways (10.70% to 7.55 dollars) for a combination that would create the One of the largest airlines in the world, according to The New York Times and the Wall Street Journal. This operation would be carried out no exchange of shares.

China's ambitions to Tiffany, who wants to spend ten to thirty five the number of stores across the Rising Sun could give impetus to the value.

The California oil company Chevron (0.37% to 77.66 dollars a barrel) announced yesterday the results on the first quarter of 2010 as the fourth best in 2009. The group takes advantage of the rising oil prices and a possible improvement in its refining margins.The major U.S. must publish its accounts on April 30.

In the pharmacy, the distributor McKesson Corp. said it will sell its Asia Pacific unit, which provides health services through telephone and Internet, Medibank Private Limited. Giant Australian health services and insurance.

"Lack of payment of Greece is out of question," has dealt the president of the European Central Bank Jean-Claude Trichet at a press conference Thursday. On the markets, interest rates on debt Greek record highs, more than 7.5% on 10 year bonds. Investors are worried about default risk in Greece and seek to test the limits from which a European rescue plan would be triggered.

Jean-Claude Trichet, for his part described the plan for "functional", welcoming the statements of Heads of State. "No one should take lightly the decision taken by all Heads of State and Government of the euro area," he said. "It's a very, very, serious commitment.(…) I will not comment on the interpretations that has made the market. "

What conditions are necessary for entry into force of the European aid, has been asked the president of the ECB? "Activation of European loans for Greece is a Greek government's decision itself," he replied, refusing to specify what are the conditions which would involve launching a plan to help no teletrack payday loan. "If assistance is requested, we will see how the response will be organized. But the ECB will be very vigilant in ensuring that member states endorse the most of their responsibilities. "

In all cases, the European plan as designed is not a subsidy free Greece, emphasized essentially the chairman of the ECB."The rate of interest [that is claimed to Greece by the member states] should at least reflect the cost of refinancing of European states", he added.

On the question of the involvement of the International Monetary Fund (IMF) in the aid plan, which the ECB appeared opposite Jean-Claude Trichet has rounded corners. "We would not have been satisfied if the IMF would intervene only" and if member states were exempt from their responsibilities, "he said.

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"Greece: the market is testing the patience of Europe

"Greece:" The market is disconnected from reality "

"SPECIAL CASE – Greece, a challenge for Europe