The advertising slogan 'type' Baidu ', and you will know "has been transformed by the Internet in China' type 'Baidu' and you spend money." China Central Television has attacked the advertising practices of the search engine in a program aired earlier this week on the economic chain CCTV2. The show has accused Baidu, which accounts for nearly ¾ of the market for Internet search in the country, selling fake tickets, which have been losing money for users.

"Baidu is clearly not able to solve this problem by demonstrating self-discipline. The primary motivation of this company is to make profits, "said Wu Yue, the presenter of the program. "If there is no law or regulation in place to limit this, it is difficult to improve the situation at the base," she said.

Questionable advertising practices

This is not the first time that the official media attack the Chinese firm. State television has already Baidu suspected to force the big companies who wanted to appear at the top of the sponsored links when searching on the Internet, to pay large sums of money daily. However, this new attack is much more powerful, because it affects the credibility of the brand name Baidu. People's Daily, the official newspaper of the Chinese Communist Party, he also criticized the company in an editorial, arguing that the search engine could be abandoned by users if it focuses only on its short-term profits. "It's time for Baidu to shoulder social responsibility," says the editorial quick payday loans.

Caught in a wave of criticism, Baidu had formally apologized at a news conference Friday.Wang Zheng, vice president of sales for the company apologized to the "users victims of fraudulent information," adding that the company will strive to better filter the information that is illegal.

One way to take control of the Internet?

The scandal coincides with the launch of the CCTV's own search engine and auction of its annual advertising screens, which has led some observers to think that this is a way for the giant Chinese television discredit a formidable competitor.

In addition, the role of Communist propaganda is important for the media in Beijing, and the campaign against Baidu could be a prelude to the implementation of measures designed to "rectify" the politically lcorrect Internet, somewhat chaotic.In recent years, the Chinese government has more and more difficult to control what is said by the Chinese blogs.

"The main players in the Chinese Internet, like Sina, Youku, Tencent and Alibaba, should consider whether the target of the campaign of CCTV, is Baidu," said Bill Bishop in his blog, an investor based in Beijing. "There may be other firms involved", he says it.

The company Baidu is one of the largest global Internet values, with a capitalization of $ 48 billion (33.6 billion euros). Its shares have lost more than 14% from Monday to Thursday on the Nasdaq, the index dominated by technology of the New York Stock Exchange.

The deposit Aldous Major South discovered early August in the North Sea is higher than expected. It could be one of the ten largest ever found in the waters of the Scandinavian country said on Tuesday the Norwegian oil company Statoil. August 8, the group had evaluated the capabilities of this new pool of 200 to 400 million barrels of oil equivalent (boe). Today, the giant of black gold confirms Aldous Major South "communicates" with the deposit Avaldsnes. Together they form a reservoir could contain between 500 million and 1.2 billion barrels of extractable oil equivalent. "Norway has not made a similar discovery of oil since the mid-1980s," says Tim Dodson, a senior official with Statoil.Further drilling will now be held to determine whether Aldous / Avaldsnes also communicates with the reservoir Aldous Major North.

This is great news for the Norwegian continental shelf. As a result of declining reserves and the absence of findings sufficient to replace the volumes extracted, the Scandinavian country's oil production has been declining since the peak in 2001 cash advance to savings account. It is now significantly lower than 2 million barrels per day (bpd), against 3 million a decade ago.

But the oil industry is the backbone of the Norwegian economy. The oil is a state monopoly, managed on a sustainable development perspective.

Boost production

In 2006, according to the Norwegian Ministry of Petroleum and Energy, the oil sector accounted for 26% of the value added of the country.The same year, Norway ranked fifth in the world ranking of Petroleum Exporting Countries and the tenth in that of oil-producing countries. This discovery is very good news for Norway, but also for farmers who had to manage the decrease in production.

The deposit Aldous Major South is owned 40% by Statoil, which shares ownership with the state-owned Norwegian Petoro (30%), another Norwegian Det norske oljeselskap (20%), and Swedish Lundin (10% ). The information was applauded by investors: Det norske oljeselskap action jumped from 21% to the opening of the Oslo Stock Exchange and that of Statoil 1.9%, while Lundin clinching 6.5 % in Stockholm.

Friday night, two days after intervening in Parliament without presenting concrete and after two weeks of falling markets, Silvio Berlusconi announced a drastic revision of budget targets. He was accompanied by his Minister of Economy, Giulio Tremonti: both showed a facade of unity after publicly bickered on the eve of the ECB's role in the crisis, which had a bad effect.

The new roadmap is binding. Parliament will be asked to register immediately the "golden rule" which prohibits any deficit in the Constitution. The balance of public accounts will advance to 2013 instead of 2014, deadline too far in the eyes of the markets. This means emerge from 7-8000000000 new resources in the form of budget cuts and reductions in structural costs.In this context, the Minister of Administration, Renato Brunetta, estimates that the deficit target to 1.5% of GDP next year and 0.2% at end 2013 is achievable. The government is also considering a new Labour Code introduced more flexibility in wage bargaining, tax reform, growth-oriented and cuts in government spending. It remains to translate these intentions into decrees by the Cabinet, so that Parliament can approve the final quarter of 2011.

Historically high rates

The pressure has paid off. Brussels and the ECB have joined forces this weekend to make the government realize that the time for procrastination was over. Rates have exceeded 400 basis points with the German Bunds, a historically high level. Italy has urged the ECB to acquire Italian government securities on the secondary market.Frankfurt on Sunday night welcomed the efforts of the country. The German Government considers that it is first in Italy to prove the seriousness of his reforms.

A crucial week therefore expects the peninsula. The social partners will be informed of the contents of the measures of fiscal austerity plan Wednesday. On Thursday, the budget committees and Constitutional Affairs will shorten their vacation to hear Giulio Tremonti.

New black day in European markets on Thursday … After a positive start of the session, the Paris Bourse trend changed abruptly in mid-day, gradually widening its losses throughout the afternoon. At the opening of Wall Street, the Paris index widened its losses, before diving even more sharply after 16 hours: the long-awaited intervention of Jean-Claude Trichet, president of the Central Bank (ECB) has indeed failed to relieve the stock markets. Operators have even made a fright late in the session, while the stop trading market indices for nearly an hour has raised fears of a suspension of classes due to stock market panic … Set to 15 minutes of the fence, which was ultimately a technical problem resulted in a sharp fall in the CAC 40 (-3.90%) at 3320.35 points, its lowest level two years.And other European stock markets have experienced almost the same movement of panic.

The scenario of this Thursday confirms that seen in Paris last week, namely an acceleration of losses at the time of the opening of U.S. markets close in a pout down more than 2%. "This confirms that the United States still give the" the "squares global analysis at Montsegur Finance Chaulet François. We currently have a suréaction operators who rely on the assumption of a return of the U.S. economy into recession. " A favored hypothesis for two or three weeks with the publication of figures across the Atlantic macroeconomic advanced, contradicting the idea of ​​catching up the economy in the United States, emerging from a recession that have to fall by 5% the GDP of the world's largest economy.

The technical rebound is expected

"The market has fallen into the hype on this subject and even capitulation, says François Chaulet. Added to this disproportionate sanctions on publications disappointing corporate earnings. And those who announce the results as expected are not rewarded fast cash now. They fall with the market, "For example, Veolia Environnement has seen its market capitalization divided by three since its profit warning on July 29.

The expected technical rebound this week after once in July already difficult, will not be today. "There was certainly a relief of the market for debt issues of U.S. and European full analyst.But beyond the announcement effect, investors are well aware that the solutions proposed (raising the ceiling of the debt in the U.S., and plan of aid to Greece ed) will not be so obvious that it set up. As long as there are political procrastination and that concrete measures are not implemented, the nervousness is expected to remain high, "adds he.

Opportunities to seize

Beyond this movement quite inexorable decline seen for ten days, the analyst points out, however, with a decline of 12% in five days, "we are still far from the levels of volatility in late 2008, where the movements daily up to 10%. In this context, there is no reason for the long-term investors do not come to the equity markets to take advantage of attractive valuations, "he says.A board to which some will probably oppose a speech often too optimistic on the part of financial analysts during a stock market panic.

Surrender is not waive

In terms of technique and market, capitulation means a massive sales of shares on stock markets, whatever the cost or risk of capital loss for the brokers. Often result in very large volumes of trade (4.8 billion euros at the end of Paris on Thursday) and a sharp drop in equity indices. Technically, however, this may be a sign of hope for the operators, the corresponding capitulation (in theory) to the lowest point of the market, the final step before the rebound. A theory that investors will surely be keen to see tomorrow ….

Bernard Tapie cases still contain some gray areas. According to a survey completed by Rue89 Charlie Hebdo, the businessman would have sought to avoid tax by transferring some of its assets in Belgium.

This operation was performed twice. In October 2010 first of all, Bernard Tapie in Belgium created a company called "GBT Holding" has, according to Rue89, a capital of only 20,000 euros. Evidenced by a deed recorded in the registry of Brussels and whose site has obtained a copy.

Two months later, the businessman makes a capital increase of the holding company by transferring 60,999 shares of Groupe Bernard Tapie (GBT) headquartered in France, worth over 215 million euros. A discreet way to transfer his assets abroad, in a country where taxation is more advantageous.Rue89 is also the same period, Bernard Tapie assured the Socialist deputy Jerome Cahuzac he only had that 100 to 120 million euros of assets …

Liquidation of debts

This is not the only mounted by the businessman to evade taxes. By the 1990s, Bernard Tapie would indeed be served in another company, called Superior Ventures Limited, to conceal large sums of money to the accountant in charge of liquidating its debts, revealed this week Chained Duck payday loans. Bernard Tapie's lawyer denies the very existence of this company. For its part, the satirical newspaper, without citing sources, provides an extract of transfer slip from Superior Ltd Venture.

Subsidiary of a company established in Malaysia and half owned by Bernard Tapie and half by Andre Guelfi, businessman otamment sentenced in connection with the Elf affair for misuse of corporate assets, Superior Ventures Limited cashed including revenues his musical performances – 120,000 euros copyright for singing "Beautiful Life" on an album of Doc Gyneco – and advertising – 250,000 euros for the campaign to stamp shops Log -.

With the Superior Ventures Limited, Bernard Tapie had also received 12,000 euros per month in wages between 1997 and 2000. According to the accountant questioned by the satirical newspaper, the company would never enter the perimeter of liquidation of debts of Bernard Tapie.

Nicolas Sarkozy and Angela Merkel arrived in the morning Thursday in Brussels after a marathon negotiation began in Berlin late Thursday afternoon and was to end in the Belgian capital in the evening. Wednesday evening between Angela Merkel and Nicolas Sarkozy, an agreement was set with the EU Presidency of Herman Von Rumpoy was then allowed to leak the outline in the morning, causing a positive market.

"Stock markets have been reassured by the existence of an agreement between Berlin, Paris and the ECB," says a close friend of Nicolas Sarkozy. The working meeting between Sarkozy and Merkel – "seven hours without interruption," according to the entourage of the head of state – was not enough to win the unconditional adherence of the fifteen other members of the euro area. "Many arrived without having in mind the highly technical aspects of this case. It took a lot to explain.Everyone wanted to be sure you understand the mechanisms involved, "said a relative of the head of state. Despite negotiating a lot longer than expected, counselors diplomatic head of state felt to hold the right end on Thursday night. "This agreement is a strong political message, for two reasons: it reaffirms the determination of the euro area does not drop Greece, and overhaul the European Stabilisation Fund, giving an additional area of ​​intervention" , we summarized in the entourage of the Head of State, on the sidelines of the meeting.

Over economic governance

Forced to stay away from microphones and cameras so as not to upset her "friend Angela," Nicolas Sarkozy has continued to play the conciliator between the requirements of the European Central Bank and those of Berlin, a role of "critical" that greeted elsewhere Yesterday a French banker."Angela is always careful not to get caught up too far," says Nicolas Sarkozy often. "It is more tactician, it is more a strategist," said one of his advisers. Strategist, the head of state to be tried since the beginning of the second Greek crisis, reaffirming the need for a strong political gesture in favor of a higher degree of integration of European economic policies. "This is the landing point from the beginning," says a consultant. If Angela Merkel wants to put Europe at the German time, imposing fiscal discipline, Nicolas Sarkozy intends to Chancellor at the time French, into accepting more economic governance. Seen from Paris, the summit held Thursday crossed then a further step towards integration and convergence of European economies."For several months, France blew up the clause of the Lisbon Treaty, which prohibited the bailout of a failed state. This allowed us to intervene in Greece, Portugal, Ireland. She obtained the creation of a European background stabilization, and modification of the Stability Pact, adding a preventive and a macro component. Without this component, Ireland could not have been brought to heel. Finally, we pushed for the creation of a pact for the euro convergence and competitiveness, "says a close adviser to the president to measure progress. "All this was unimaginable a year ago," he says.

As we approach the presidential election, the idea of ​​establishing a single employment contract instead of the current CDD and CDI returns to service. The National Association of Directors of Human Resources (ANDRH), the Assizes were held in Paris on Friday, wanted to "deliver the proposal to the public debate," now calling legislators and social partners to tackle them.

"This is not a new idea, warned the director in the morning at the microphone of a Europe, for the first time against that as we engage practitioners to advance in this field." One idea already welcomed by Labour Minister Xavier Bertrand, who ruled on Friday that it i-TV should be studied free credit score online. No wonder this: the reform program was already the candidate Nicolas Sarkozy in the 2007 presidential election.

The idea may indeed seem attractive.Two reports published in 2004 while two (one from the Economic Analysis Council on the protection of employment, both of Pierre Cahuc and Francis Kramarz Social Security Professional), as well as the Attali report, the had also called their wish, including with the aim to overcome the strong duality of the labor market. By giving employees rights progressive, the single employment contract is "to fight against the excessive use of fixed-term contracts and temporary," justifies the ANDRH.

A revolution

Source: INSEE

The alleged sexual assault case that led to the arrest of Dominique Strauss-Kahn is also a blow to the institution he heads the International Monetary Fund (IMF). "It will inevitably tarnish the image of the institution, which, however, by the voice of its director general had managed during and through the crisis, to find a proper place in the regulation of globalization and stand at the heart of international monetary system, "said Hassim Mounis, professor at Sciences Politiques in Paris.

"Dominique Strauss-Kahn is a Managing Director of IMF that will be remembered most," says the economist. "It will mark the spirits because he has temporarily disrupted the guidance of the IMF's role by requiring the state to support the economy, which is in total contradiction with the previous liberal policy of the institution," said it.DSK is known to have handled the economic crisis and financial crisis by bringing a Keynesian response … measured, however: in the emblematic case of Greece, the IMF forced the government to drastically reduce public spending and operate a process of privatization.

Greece precisely, it ensures that the events that challenge the IMF does not change the government program to revive the economy. "The government is pursuing reforms resquises by the Fund," said George Petalotis Sunday, his spokesman. DSK would have had to go in Berlin on Sunday and meet Angela Merkel to discuss a possible new aid to Greece, who won the spring of 2010, with 110 billion euros, 30 billion from the IMF.This meeting was to take place on the eve of the convening of a Eurogroup these Monday night and Tuesday in Brussels, with the main discussions at the agenda of the financial problems that resurface Greece for several days and that plague markets . A spokesman of the Eurogroup, however, that the IMF will be shown no matter what happens.

The IMF meanwhile assured that it remains "fully functional and operational low fee payday advance." The Washington-based institution to ensure and maintain its role in the issue of European sovereign debt. "It seems impossible that the case could impact the DSK button timing and responsablités IMF, the stakes are too great," says an economist based in Paris.There was a pre-DSK IMF, there may be an after-DSK.

Who might succeed him at the IMF?

Since Bretton Woods in 1944, which devoted a share of the world between Europe and America, the custom was established to appoint a European to head the IMF and an American to head the Bank World. But in recent years, global economic governance has, too, internationalized: emerging countries like China and Brazil now have a bigger role, like the G7 became the G8 and G20.

Dominique Strauss-Kahn, who became the tenth Executive Director of the IMF on 1 November 2007, has himself advocated the continuation of the reform of the institution, and wanted a person from a country emerging for the successor to head the IMF . But the events that shook the Fund could also shake up the program.If DSK had to leave the branch, a new early election should take place. The voices, weighted by the amount of quotas, have been reallocated on March 3 after a major reform of the representation of the 187 IMF member countries. The reform has enabled the transfer of 6% of the votes of over-represented countries to benefit from emerging countries.

"DSK is a former economics professor and renowned former Minister of Economy and Finance. He has a real economic role at the operational level to the IMF. In France, too, has played its role, "insists Mounis Hassim, comparing his skills to those of Raymond Barre. Under Jospin, DSK, then Minister of Economy (1997-1999), had participated in the launch of the euro.

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Although the third French construction group is heavily in debt (14 billion euros of net debt), Peter Berger hopes to increase the operating margin of 2% to 4% within four years, according tothe Echosce Thursday. The former director of Vinci Construction Grands Projets, aged 42, will assume the role of CEO on July 1, according to Les Echos on Thursday. Jean-François Roverato, president of Eiffage, will keep his duties until September 10, 2012, the year he reaches the age limit for this function.

For Peter Berger, the group's prospects are good. "At the end of March, our backlog is at record levels, and without the project Britain Pays de Loire, which will be included in July." For the new director general, larger sites, whose contract LGV Bretagne Pays de Loire exceeds 1 billion euros per year, less than 10% of sales."They are only the visible part of the iceberg front of 40,000 medium and small projects that we conduct every year. In the longer term, I believe in the structurally carrying the construction sector, even if only for demographic reasons. Between 2006 and 2011, the French population grew by 1.7 million people, representing nearly 40 billion more for the building market, "said Peter Berger.

Refinance Debt

For Pierre Berger, debt Eiffage no problem. "The goal is to reduce our debt from 300 to 400 million for each of the years 2011 and 2012. We do not anticipate any problem in 2013 to refinance the debt of 2 flexcheck cash advance.7 billion Eiffarie (consortium of Eiffage and Macquarie, whose group is a subsidiary APRR).Upon redemption APRR (Autoroutes Paris Rhin Rhone) in 2006, the debt highways accounted for 11 times its EBITDA, and currently, this ratio fell to 8 and should be reduced to 6 in 2013, when we completed its refinancing.

Optimization of large projects

The new CEO of Eiffage has also identified three areas for improvement to achieve a margin of 4% registered within four years, against an operating margin of 1.5% to 2% currently. "We must improve our productivity in public works and energy, including better integrating recent acquisitions, as and Crystal. Finally, we must optimize our steering of very large sites. From 2006 to 2010, Eiffage has conducted four abreast Stade de Lille, the Highway 65, the Perpignan-Figueras Hospital and South Paris region. Some have experienced cost overruns.On these very large operations, we must work as a team, establishing multidisciplinary project teams, close to the ground. "

"The group regularly conducts world premieres," said Peter Berger in his interview with Les Echos. He concluded: "Eiffage is the construction of high fashion, and we must capitalize on this strength with high value added projects."

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A week of respite. That is what has been unable to agree representatives Democrats and Republicans in Congress Friday night to Saturday. Released by the spokesman of the House of Representatives John Boehner, the agreement between the two sides held in suspense the United States for several days, the deadline expires Friday night. Failing to find consensus on the establishment of the federal budget for the year, officials threatened to paralyze this Saturday utilities "not essential", putting 800,000 officers on forced labor

The debt ceiling: the next topic of discussion

The agreement reached last night, however, is only temporary, avoiding this disaster scenario time a week. Congress must still agree on a final agreement and vote in next week's final act on the budget for fiscal 2011 which expired on September 30.According to comments reported by the Republicans, the agreement provides the budget cuts of 37.8 billion dollars spread over the rest of the year.

Cuts historically high, and considered "painful" by Democratic President Barack Obama speaking just minutes after the announcement of the agreement, but "necessary" to allow the U.S. to live within their means. A major point of contention was the amount of budget cuts, Democrats want to limit them to 33 billion dollars not to compromise too much the U.S. recovery by drastic cuts, while Republicans wanted to bring $ 61 billion .

The debt ceiling: the next topic of discussion

For his part, Rep. John Boehner believes that the compromise reached in the snatch will "reduce costs and keep our government in working order." Still, the U.S. budget problems are not over. Far from it. If the agreement reached by both parties to avoid a political crisis difficult to 18 months of presidential and legislative elections and a halt to the recovery of the U.S. economy, of bitter debate looming once again for the next weeks.

First on the budget for 2012, but especially on the possible increase in the debt ceiling and on the measures used to reduce it.A debate arises today, Treasury Secretary Timothy Geithner has warned that the legal debt ceiling (14,290 billion), would be met from May 16 next, and that extraordinary measures would not reduce the maturity until 8 July. On April 1 this year, the federal government debt had already passed the 14.251 billion dollars. And the budget deficit probably will cross the bar of 1400 billion, despite cuts passed in the night. Already engaging the coming hostilities, John Boehner said this morning that the measures proposed in the coming weeks by Republicans would reduce the deficit of $ 500 million over 10 years.

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