In the wake of Wall Street and Paris, the Asian stock markets preparing to end the week uncoordinated. Although most of the macroeconomic indicators published Thursday in the U.S. and Europe were positive, caution is still required until the figures of unemployment and employment for the month of August in the United States.

Around 7:00, the Nikkei 225 gained 0.19% to 9079.80 points, the Hang Seng in Hong Kong shows a small increase from 0.08% to 20,884.96 points, the Seoul Stock Exchange and Sydney move at equilibrium respectively 3726.98 points (+0.02%) and 4533 points (0.01%) and the Bombay Stock Exchange ahead of 0.16% to 18,268.04 points.Only the Taiwan Stock Exchange posted a sharp increase: 1.33% to 7823.54 points.

Conversely, Singapore was down 0.20% to 2980.70 points and the MIC of the China Stock Exchange was down 0.48% to 2907.32 points.

On the currency markets, the euro / yen has fallen slightly: -0.17% at 107.96 yen per euro, as the dollar / yen -0.10% at 84.23 yen to the dollar .

Oil prices drop below $ 75 in electronic trading in Asia, due to profit taking and some optimistic forecasts for employment in the United States.

In morning trading, a barrel of light sweet crude for October delivery lost 26 cents to 74.76 dollars. One of Brent North Sea crude for October delivery yielded 35 cents to 76.58 dollars a barrel.

Instant payday loan is not the one that requires you to pass the stringent credit check or any other cumbersome paperwork, so you are handed your loan amount within 24 hours of the submission of your application.

The French government wants to reduce by three billion in Budget 2011, tax loopholes enjoyed by the insurance industry, under the "movement of the plane" of 10 billion to reduce the deficit, said Monday AFP at the Department of Economics. The revenue thus acquired will be made to the Sinking Fund of the social debt of 3.2 billion new resources the government has agreed to pay."This revenue will be made in three steps facing the insurance industry at large, because it is the sector with the biggest stake in what guarantees the sustainability of social protection system," said the entourage of the Minister of Economy Christine Lagarde.

Resources collected in advance

The first measure deemed included in the Finance Bill to be presented in late September by the cabinet for life insurance, the preferred placement of the French.Included are contracts known as "multi-media, which include a part in Euro (guaranteed capital invested in bonds) and other units of account (mostly invested in equities).

To date, social security contributions (general social contribution and contribution to reducing social deficits) are made only outcome of multi-support contract, then they are executed each year on contracts in euros only. "We will achieve the social deductions each year for the compartment euro contract of life insurance multi-media", it was argued. In this case, it is not really new but revenue from resources "advance", they added.

Tax incentives obsolete

The second measure relates to contracts "caring and responsible" health insurance, covering virtually all of the supplementary cover.They have since their launch in 2005 of a tax exemption on insurance agreements. "This exemption would allow these contracts to take an important place. But it is a success, so there is no need for a tax incentive very strong, "argued the entourage of Christine Lagarde."These contracts will therefore be subject to tax on insurance contracts, but at a reduced rate of 3.5% instead of the standard rate of seven per cent," he said.

The final measure focuses on the taxation of the "reserve accumulation" that insurers are required to be to smooth fluctuations in interest rates.

Each of these three measures should yield about one billion euros in revenues in 2011.

ALSO READ:

"Tax Niches: Book A falls outside the plane

"Niches: supporters of plane increase

"Sarkozy waives amputated using student housing

"Reduction of deficits: the plea Baroin

Photographers, cameramen, and around 70 MPs, including several tenors Socialists (Francois Hollande, Jean-Marc Ayrault) belonging to other committees, however … The Social Affairs Committee of the Assembly, Eric Woerth who auditioned Tuesday, just after presenting his plan to reform pensions in Cabinet, had on Tuesday an unusually busy. She was visibly much at the media-political context and the importance of the bill to the agenda. The audience was also gradually scattered throughout the session … And if the Left has repeatedly expressed its disapproval loudly – a ruckus usually reserved for the Chamber – is inside the text she attacked.

The fate of the Pension Reserve Fund has attracted the most virulent attacks.Introduced by Lionel Jospin and supposed to help pass the peak of demographic imbalance between contributors and pensioners, beginning in 2020, the FRR will finally be used to offset deficits in coming years, pending the promised balance by the government in 2018. "Your reform is shortsighted, accused DSK.The holdup on the Pension Reserve Fund is to penalize future generations. "

PS She also found that the device "hardship" (starting at age 60 with full rate, subject to a disability of 20%) returned to "say people who are disabled or sick are entitled to be recognized invalid or sick. "

"A good balance"

Labour Minister regretted the "distortions" and recalled that this device, combined with the long careers (early departure for those who started working before age 18) should cover 100,000 people per year in 2015, a new retiree on about six.Earlier, Eric Woerth was held, in an interview Capital.fr that the threshold of 20% was a "good balance", seemingly closing the door to a significant change – and potentially costly – on this point.

Not a word left, however, to challenge the alignment of the contribution pensions of officials on that of private sector employees.

The majority, she has power, supporting a reform considered "essential," "urgent," "fair" and "effective". Jean-Luc Préel however, raised a question: "I have some doubts about the economic forecasts that seem optimistic," said the member of the New Center.

Meanwhile, unions have reaffirmed their opposition to the reform, gathered before the Ministry of Labour hundreds of activists, including Bernard Thibault (CGT), François Chérèque (CFDT), Alain Olive (UNSA) and Bernadette Groison (FSU).

ALSO READ:

"Sarkozy said his firm on pensions

"Pension reform: unions hostile

"SPECIAL – The challenges of pension reform

Like The Prisoner, the hierarchs of the Societe Generale will designate them by numbers, which creates a particularly warm climate. In the case of Jerome Kerviel, we have, in order of increasing responsibility, N +1, N +2, etc.. Until the Director General, N 7. Hence the paradoxical equation that seeks to resolve the criminal court of Paris against a chain of command if expanded and a financial disaster without precedent: (N +1) + (N 2) … + (N +7) =- 4.9 billion euros in January 2008.

Here, at the helm, N +1. A tall, friendly, very thin uniform N + (gray suit, blue tie), polytechnician ruffled the soft look. In real life, he called Eric Cordelle, 38, married, two children. Societe Generale was dismissed in April 2008 and is currently "looking for a job."What is immediately striking is that it does not seem really for the post of Chief of Jerome Kerviel and seven other traders that he agreed in April 2007: expert financial engineering, back from Japan He knows neither the language nor the tricks of trading – exactly the opposite profile of its predecessor. Hence the hypothesis raised by the prosecution, that Mr. Kerviel would have easily eaten secretly by investing 50 billion euros.

What is striking then, is how little energy spent by N +1 to the detection of internal fraud. But N 2, we hear just now, as N 7 and N 6, previously interviewed, was no more ardent. It even comes to say that SocGen was on this point, less vigilant than the first quarter came drugstore. Its controls? A Maginot Line which Kerviel was played, and that his motive remains indecipherable is a poor excuse."A trader can not leave with the cash, 'explains Mr. Cordelle. Let. But why did we not informed, inviting him to greater scrutiny, the 2005 incident, which saw the apprentice trader Kerviel win 500 payday loan lenders.000 euros speculating as Allianz, then he did not have the right? Why does no one consults he never or almost Eliot software, which records all transactions (actual or fictitious) of his subordinate? Why is not the intended recipient of two letters from Eurex, the end of 2007, in which the German derivatives market to demand explanations on SocGen excessive operations implemented by Jerome Kerviel?

True, Mr.Cordelle gives the impression of having been "thrown into the lion's den," with Jerome Kerviel who has "been acting" with a real talent since "every time he explained something, it was credible . We want to believe it was lost in the maquis computer "- the formula is the president Pauthe – in which Mr. Kerviel, he, played as a fish in water.

"To find, we must seek"

But still, the Ecole Polytechnique has an easy to hide behind the situation – activity increase exponentially, inadequate staffing, etc … The fact is that it does not, in particular, read all the emails or bookkeeping, Perhaps it would put a flea in his ear. To him as to his superiors. Therefore the bank as a system, a system so sure of himself that he did not think to detect a free electron, which methodically undermined its own foundations."To find, we must look," says Mr. Cordelle, but this truism leaves the court on his hunger. For if one man could commit 50 billion euros without anyone noticing, jeopardizing a financial institution, its shareholders and its 150,000 employees, What were the controls? Why so many "N"?

READ ALSO:

"Trial Kerviel:" They are all guilty! "

Jerome Kerviel admits to having produced false

For his boss, Kerviel was a "criminal behavior"

While the Paris index ended the session fifth consecutive increase, and finished with 3661 points on Tuesday night against 3330 points a week earlier, the CAC 40 does not seem to want to stop. To believe the future contracts on CAC 40, the benchmark index of the Paris market is expected to start Wednesday's session up strong, about 0.85%.

Early this morning the Nikkei is ironed beyond the 10,000 points, up over 2% as U.S. markets, which closed Tuesday night on a comfortable progression.

Around 7:30, the euro is changing the balance after his flight: he rated $ 1.23.Oil, he, trades at more than $ 77.

The large statistics of the day are American

In the euro area, 11 hours, the second estimate of inflation for the month of April will be unveiled.

In the U.S., housing starts, producer prices and industrial production for the month of May will be known between 14.30 and 15.15, before the opening of U.S. markets.Then, the traditional weekly crude inventories will be published.

Rodriguez's boss resigns after indictment

The specialist luxury yacht on Tuesday announced the resignation of its president, Alexander Rodriguez, indicted and jailed last week in a case of banditry, and substituting the group's founder, Gerard Rodriguez.

The scoring title, which had been suspended at the request of the company, will resume on Wednesday Wednesday.

Zodiac AerospaceLe group, whose sales fell 7.6% during the first nine months of its fiscal year, said receiving encouraging signs of restarting the aviation industry in the context of a more favorable exchange rates.The aerospace supplier confirms its annual targets.

In an interview with the Tribune, Zarrouati Olivier, CEO, says there is no plan to merge with another actor can French aviation capital and no operations are planned at this time with a group foreign

Distribution: showdown on judicial coffee pods Nestlé sued for infringing its competitor Sara Lee (Coffee House). According to information of Figaro, the casino dealer would also be covered by the complaint.Nestle, the world leader in food and owner of Nespresso, sued Friday in front of the Tribunal de Grande Instance of Paris the U.S. Sara Lee, which sells in France for use in coffee pods Nespresso machines under the brand Gold ( coffee house).

GDF Suez Tuesday, the group headed by Gerard Mestrallet did not hide his satisfaction at the announcement of the signing of a contract to build a gas power plant with a capacity of 1730 megawatts (MW) in Saudi Arabia . The operation is substantial. The future plant, which will be commissioned in late 2012, an output slightly above the EPR (1600 MW), for a price much lower: 2.1 billion dollars.But the first shipbuilder in the world, South Korea's Hyundai Heavy Industries (HHI) said Wednesday it signed a $ 1.6 billion to build a power plant in Saudi Arabia. The group said it would construct the power plant using gas from 1729 megawatts (MW) by 2012.

Suez Environment Group said Tuesday night that AA successfully placed a bond issue of 500 million euros over 12 years, due 2022 at a rate of 4.123%.

Sanofi Aventis French pharmaceutical group has signed an agreement to acquire Canadian independent group Canderm, a specialist in dermatology.This acquisition will allow Sanofi-Aventis to double its turnover in public health in Canada, according to a statement.

In addition, the company managed to obtain a refund of the medicine disorders dy heart rate, Multaq, 65%.

The crisis is confirmed in the advertising community. In any case the message sent by the advertising giant Havas Monday. The group said in a statement a 1.4% of its turnover in the first quarter to 325 million euros against a slowdown from 8.4% a year ago.

The group is pleased to see that "all regions are increasing. In Europe, France and returned to positive organic growth of 0.5% compared to the 6.1% decline in first quarter 2009. Only Spain and Eastern Europe are still "difficult", according to the group.

But the American continent Havas owes its good performance quarterly. A "significant turnaround" was notably produced in North America where revenues recorded in the first quarter organic growth of 5.2% to 114 million euros, against 9.2% in the same period last year.In turn, Latin America continues its "strong organic growth rate" with a jump of 24.4% in the first quarter.

ALSO READ:

"Havas recorded a decline of more than 10% of its profits

LE FIGARO. How will you improve the enforcement of tax laws?

Christine Lagarde. I wish first of all to strengthen legal certainty in tax matters. Some blame the latter to move too quickly, not always available. They are not always wrong … To improve the quality of our tax system, I am setting up consultations upstream on some drafts tax. Specifically, we now disclose on the Internet as often as possible the proposed draft text, particularly when presenting a particular technical specialty. It is a revolution that will allow all interested parties (individuals as companies) to read and especially to propose amendments. We can thus take into account their comments and submit a bill already matured to the Council of Ministers.The aim is also to ensure that the intervention is less concentrated lobbying at the stage of parliamentary debate, which will limit the amendments.

This rule does apply to the finance laws?

In principle yes, for all the texts on which a consultation deemed appropriate, and subject of course offs of the Premier. We tested the approach last year by broadcasting the complete text of the reform of business tax in July. This allowed an extensive prior consultation, that has not prevented the government to mediate to end. Experience has been successful and I wish to extend it.In general, I believe that by expanding the prior consultation, we can improve the quality of texts, to facilitate parliamentary discussions, proportionately reducing the volume of instructions issued and simplify matters for taxpayers.

How to help taxpayers understand the law?

By reforming procedures for issuance of tax instructions, that is to say the comments that we broadcast to explain specifically how to apply the measure passed as part of the law. We will take steps to expedite the release draft instructions: within two months of the entry into force if the text gave rise to upstream consultation, within six months in default. When setting up the device Scellier in 2009, households had to wait until May for an answer to some important issues! It will not be too long in the future.We contacted the department's website a publication schedule of the most awaited instructions so that taxpayers know where they stand. More importantly, the draft statement will be prejudicial to the administration. This provides a real guarantee to the taxpayer if he makes an investment using the draft statement and then the administration changes its mind and publish a final statement stricter conditions on its investment will not be delivered question.

What will you do Retailleau report on simplifying the business tax landscape?

I found very interesting the proposal of Senator Bruno Retailleau develop a compact growth with mid-cap companies with promises of stability of some sections of the regulations for a specified period in exchange for commitments for growth.Similarly, the idea of not changing the rules that set time, determined beforehand in the year, would be a breakthrough for companies that no longer have to waste time and money to monitor publications of new rules. I asked Herve Novelli to study the feasibility of these measures.

ALSO READ

"The income tax is poorly distributed across the territory

EWB: new in 2010

"To the question, the clipboard will it continue to exist? I think fundamentally, No! This movement could take five, ten or fifteen years but I remain convinced that this is not bad news for the press! ". Invited the morning breakfast Ina-Odeon, Alain Weill, the chairman NextRadioTV Group (RMC, BFM Radio, BFM TV, Group 01, "The Tribune"), confirms its strategy to reduce the number of kiosks that sell La Tribune "" the most profitable, or about 2,000 throughout the territory by the Director General of the daily, Val?rie Decamp.

"The current industrial process which produces millions of copies with the final 60% of unsold leave by truck to be destroyed or recycled is no longer a viable solution," said the businessman who already admits read "The Tribune about his phone iPhone in print.The proliferation of digital shelves of reading as Apple iPad, should, according to him, upset, this year, the landscape of the press, giving the phrase "once old computers" low fee payday loans! ???!!!???!!!.

In this context, Alain Weill plans to "be ready for launch in late April in France of the tablet iPad", although "there is more an issue of image than an economic issue," he admits. By the end of the year, two applications (BFM and "Tribune") should be available on the iPad.

Finally, at the BFM awards Awards November 15 next, the group plans to turn his radio BFM radio in a television channel called BFM Business. This new channel could be open in Paris since the TNT, if not via ADSL networks and / or cable."BFM Business reflects our strategy" 360 degrees "to be present on all existing media" and can "give a boost to our radio business, particularly" flat "in 2009, justifies Alain Weill.

Trapped in an ivory tower. Creating a vacuum around it. Me playing. Do not support the contradiction. Paranoid. Manipulative. Wanting to decide everything but unable to decide. Disconnected from "real life" businesses. Beside the plate, speaking gender and environment when the crisis is kneeling by hundreds of SMEs – "shifted as Gainsbourg was invited to the ball for debutantes' says one CEO. This is Laurence Parisot, seen by his enemies in the world top employers.

The President of the MEDEF has faced this week from his number 2, shortly after the defection of Ania, the federation of large agribusiness. What critics revive the most violent. And why worry about the contacts of the MEDEF. "Parisot is unreliable," a government official installment."We talk about the weakness of unions, but I note especially that of employers," says Fran?ois Ch?r?que (CFDT), Friday in Les Echos. Near the head of state, Alain Minc launched between Christmas and New Year: "If there was one tenth the talent of the staff of the CGT MEDEF, things would get better." At least these last two they have the courage to post their opinions.

The big bosses remain silent

For if the accusations against Laurence Parisot are too frequent to be ignored, they remain within the sphere Employer anonymous. "In this environment felted and fairly static – dixit Jean-Ren? Buisson, President of Ania, the day of departure – we do not wash their dirty linen in public. The protesters speak off. And at 5 months of the end of the mandate of Laurence Parisot who plans to represent every potential rival advance a good reason not to confront.

More importantly, the bosses seem to ignore the MEDEF. Franck Riboud (Danone), however, suspected to decide backstage choices Jean-Ren? Buisson has not been a word publicly to approve or regretting the departure of Ania. In addition, on major economic and social debates, the big bosses remain silent. Was heard, facing local officials slingers, a captain of industry explain that the end of the business tax would remove a handicap for the group in the global competition? Has there been a president of multinational defend retirement at 62 or 65 years, unpopular but unavoidable for entrepreneurs? "I am well placed to measure how the word of an experienced entrepreneur has more impact than its trade association, acknowledges … a federation president, Laurence Parisot supporter.But there are only shots to be speaking on subjects 'political'. The bosses worried it will damage their business. "Two chairpersons of MEDEF – past and present – add the need to accept the merit function, time and volunteers in the employers' organization, when leading a company several thousand employees.

"This lack of involvement is not new, moderates an expert on social issues. The phenomenon was probably amplified with globalization: even with its headquarters in Paris, the CAC 40 company that makes 80% or 90% of its turnover abroad tend to think that the labor law or payroll taxes in France are no longer an issue for her. I am not the solution … "If Laurence Parisot seems very lonely sometimes, it is not solely responsible.

ALSO READ

The number two slams the door Medef

The exposure of European banks to the debt of Dubai and societies that are attached is estimated at around 13 billion euros, according to a note published Thursday by the bank Credit Suisse after the moratorium request made Wednesday by the emirate.

Analysts at Credit Suisse indicate that exposure of European banks in the Middle East does not exceed 1 to 2% of their commitments, Dubai represents only a portion. Assuming Dubai and parastatal entities would default on 50% of their debt, the bill would amount to 5 billion euros for European banks, which would represent an increase of 5% of their reserves for 2010 by note.

The total debt of Dubai was estimated at 80 billion dollars in 2008, 70 billion dollars to support public companies.Dubai World, a company of shares of the emirate, it weighs only 59 billion dollars of this amount.

Analysts surveyed by Dow Jones Newswires, exposure would exceed the amount estimated by Credit Suisse and reach about 26 billion euros.

In his note, Credit Suisse mentions numerous names of European banks, including Britain's HSBC, RBS and Barclays, and the French BNP Paribas and Calyon (Credit Agricole), Deutsche Bank and UBS of Switzerland.

Questioned by AFP, Calyon, a subsidiary of Bank Financing and Investment Credit Agricole said its exposure was "weak" and concerns including syndicated loans (loans to a company by several banks).

Credit Suisse said its exposure was "not significant", while UBS has declined comment.The Dutch ING has reported that its exposure was "manageable" and that he had "no reason to revise its estimates of cost of risk" (unpaid customer).

ALSO READ:

"The emirate of Dubai on the brink of bankruptcy