The controversy has increased the ceiling on Friday on unemployment benefits managers, an idea launched Thursday by Pierre Mehaignerie, the UMP president of the Social Affairs Committee of the National Assembly, in an interview published on lefigaro.fr. The most virulent reaction came from the CFE-CGC. "There is no question of wasting our time with false good idea to limit who imagine in time, restrict or limit unemployment compensation on the grounds that it would promote more rapid reintegration into employment," said its chairman Bernard Van Craeynest. For the owner of the plant managers, unemployment compensation is "an insurance mechanism in which everyone contributes according to his salary and compensation is based on the injury he suffered" and that it is unimaginable to cap the reimbursement claims.As "for auto insurance," he says.

The idea of capping executive benefits is not new, since France is one country that offer the best conditions for compensation to the unemployed who were receiving a very high income. A framework for under 50, who has contributed for two years in its 28 months of activity and who had a monthly salary higher than 11,540 euros gross, so is certain to receive an allowance of 6,764 euros gross per month for two years. Or, after social security deductions, a check of nearly 6,000 euros every month! And if over 50 years – which is often the case at this level of compensation – the compensation period is extended to three years. By comparison, an unemployed German may touch 2215 euros per month for two years or, worse, 1073 euros for one year if he is Italian.Nothing to do so.

A ceiling of 3000 euros

The suggestion of the 4th vice-president of the UMP will have at least had the merit to highlight this feature of the French regime. "Pierre Mehaignerie raises a real problem that could encourage the social partners to be more imaginative" in the renegotiation of the agreement unemployment insurance that starts Jan. 24, admits it in the entourage of the head of the state. "The idea to release additional resources for youth employment is not so preposterous," abounds near Xavier Bertrand, Minister of Labour."Let us negotiate the social partners are aware of their responsibilities," they replied Lawrence Berger, the leader of the delegation CFDT, which he considers "Pierre Mehaignerie legitimate to speak", asks the policies do not encroaching on their field of negotiations.

Some unionists, however, agree on condition of anonymity that the plane frames allowances may be an idea to dig. "Why not, if it creates new rights for the other job," judge and a negotiator. A plant would even asked Unedic quantify the resources released if the ceiling was lowered to 3000 and 4000 euros … The reason? Few unemployed would suffer.Better, more "symbolic" – Unedic refuses to communicate – in view of the average amount of unemployment compensation (1111 euros gross per month), their average length of membership (10 months) and also the average wage French (1580 euros per month).

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In the absence of changes in shareholders, Quick is renewed to continue to grow. The fast food chain should in fact remain for several years in the bosom of QUALIUM (formerly CDC Investment). The investment fund, advised by Rothschild, had considered a sale of assets last spring.

But the price demanded, around 900 million euros, was deemed excessive by the highly prospective purchasers, especially the most motivated of them, the American KKR.QUALIUM, which owns Quick since 2007, could continue to drive the development of the chain for a further period of three years, hoping to create more appetite when it will represent the market.

In 2010, turnover of 481 restaurants in the brand (including 371 in France) should exceed, according to management, 1 billion euros, up 6% organically and 11% taking into account openings: Quick has opened 24 restaurants (including 15 in France), but eight have closed (including 3 in France). Management ensure that the brand is gaining ground in France, its main market. The fast food sector is spared by the economic crisis.According to the firm Gira Council, its growth may indeed reach 7% in 2010, after 6% in 2008 and 9% last year.

In this context, operating income of Quick him could jump by nearly 25% and approaching 100 million. That would value the brand at 870 million euros, if one takes as reference the transfer of Courtepaille redeemed by mid-December Foundations Capital for 245 million euros.

Offensive in Russia

To restore the appetite for future investors, Quick focuses on her winning new customers. For Christmas, the company has released a burger with foie gras, sold 5 euros in a limited edition of 17 to 19 December. After the controversy caused by the launch of a halal in 22 of its restaurants, the company continues to be noticed where its customers do not wait.Objective: to talk about the brand and become a true challenger to McDonald's, the leader archidominant first restaurant in France with 1 160 outlets. This year's innovations have doubled compared to last year. New features include a milkshake-covered strawberries Tagada a cheeseburger or organic chicken pieces to share an idea chipée at KFC, the other competitor.

The new boss of Quick, Jacques-Edouard Charret, formerly of Casino, has submitted to a shareholder an ambitious development plan. By 2020, it hopes to double park and up to 1 000 restaurants, doubling sales of the group, and three operating income! 36 openings planned in 2011. The company has set up a joint venture for deployment in Russia with local partner for a builder of shopping centers.

Soon a European International Monetary Fund? Germany would work to draft new European institution which is much like a regional version of the firefighter world public finances, according to the German daily Sueddeutsche Zeitung. Berlin would like to propose to its partners in the euro area to create a "European Fund for stability, growth and investment," according to a paper cited by the newspaper.

Berlin has denied that this project reflects the government's position. This document was "not subject to ministry officials, nor endorsed by them, and the ideas it contains do not reflect in any way the position of the Ministry of Finance or the federal government," insisted the door Ministry spokesman.Still, the German Minister of Economy, Rainer Bruederle said Thursday in a statement that "the fallback mechanism will exist in the direction of a European Monetary Fund. (…) There must be question of independence, individual responsibility, transparency and foremost the possibility of sanctions for poor performers of the euro. "

Informal meeting

On Thursday, Finance Minister Christine Lagarde will meet informally in the early afternoon near Strasbourg with his German counterpart Woflgang Schäuble, who is on vacation. "The EU should not only look at the budgets, but also monitor how economies grow," said Christine Lagarde at the Sueddeutsche Zeitung, and reiterated its preference for a European economic government."We're at a stage (of European negotiations, Ed), where each country sets its vision on the table," says one at Bercy, "and there's currently nothing specific."

According to the draft released by the Sueddeutsche Zeitung, the struggling states could use the funds to refinance their debt in case of emergency. "No limit" amount. Counterparties would be severe: the beleaguered government should provide guarantees in exchange as reserves in gold or shares in public companies. This institution would take its place alongside the European Central Bank. Like the latter, it would be politically independent. This project serves as an alternative to European bonds in particular championed by Luxembourg and Italy, but which Germany and France opposed.

"The German interest for stability"

He is "in the national interest" of Germany that the euro area to be consolidated "with all its Member States, it is explained in the paper cited by the Sueddeutsche Zeitung. Monetary union is clearly oriented towards the "German interest for stability," is said. This is the "consideration" for Germany to play its role of "anchor stabilizer" within the zone.

Rainer Bruederle is skeptical about him. "Such a European economic government is not the right project. Whoever currently looking for a European economic government is working on a bad site, "he said bluntly. Finance ministers from the euro zone must meet in January. The markets were disappointed by the meager results at the last meeting of the Eurogroup, in mid-December.

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The Hospital Federation of France (FHF) is sounding the alarm. In an internal memo published by the Journal du Dimanche on Saturday, the FHF warns against the privatization of the retirement homes in France. "Since 2002, the public has lost 5% market share in favor of private business. Between 2003 and 2007, 61% of places for addicts were created by private developers, "says she.

A development which, according to the federation, more expensive trips to the dependents or family. For the day in a private school is on average 40% more expensive than public ones. "These creations of seats facing the problem of affordability for seniors," said the federation.A pitfall in size, at a time when the issue of financing dependence, declared government priority, invited in the public debate. The challenge posed by an aging population is not small scale at the individual level: according to a report by the General Inspectorate of Social Affairs (IGAS), placement in nursing home costs an average of 2200 euros per month to the elderly care bad credit payday advance… when the average level of pensions of retirees amounted to only 1,200 euros monthly.

FHF, meanwhile, also complained of seeing some public institutions losing resources needed for their operation, on behalf of a "convergence rate" desired by the government.For if the original purpose of this convergence is to rebalance resources between financial institutions richest and poorest, the FHF emphasizes that even the best equipped centers no longer have sufficient resources today to address the Patients increasingly dependent. "Convergence, if continued, would result in the elimination of 5,000 jobs in Ehpad (Establishment of accommodation for frail elderly) and 7000 units in long-term care," said the FHF in the report published by the JDD.

The consultation on the financing of the dependency must start in early January. The first steps, they are expected in summer 2011.

The climate is severe also for the motorist. The last statement of the Directorate General for Energy and Climate (DGEC) shows indeed a significant increase in fuel prices. Diesel fuel as unleaded 95 are now at their highest level in two years. Last week, the first, which represents 75% of sales, cost an average of 1.2023 euros per liter, an increase of 6.4% since the end of summer. As for the SP 95, it rises to 1.3947 euro. With a record of 1.69 euro in Paris! While the highs of spring 2008 are still far away. At the time, while a barrel of crude had tu the $ 150 mark, diesel peaked at 1.4541 euros per liter, and the SP 95 also at 1.4971 euro.

Three factors have combined today to explain the rise in pump prices.First, the rising price of a barrel of crude oil, "almost 20% since the beginning of the year," says Jean-Louis Schilansky, president of the Ufip (French Union of Petroleum Industries). The crude touched $ 75 around 2010 to lift these days at $ 90. And the movement seems to continue. It usually takes between eight and ten days for an increase in oil prices affects the price at the pump in France. Fluctuations in crude oil, however, smoothed to avoid price changes daily, does one note at Total no fax cash advance.

The forgotten factor strikes

Second factor: the collapse of the European currency."With the euro around $ 1.40 earlier this year, against 1.32 now, says Jean-Louis Schilansky, there is simply more euros to buy a barrel that is paid in dollars." Expressed in euros The barrel has increased from 53 to 68 euros, an increase of 28%.

Added a third factor, a seasonal cold that hit early part of Europe since the end of November. The fall of the thermometer causes an increase in consumption of fuel oil to heat homes and businesses.But the oil from the same "base" oil than gas, the voltage on demand pulls prices.

The president of the Ufip provides instead that the strikes and blockades of oil depots of October, which had a dramatic impact on fuel at the time, left no trace on prices today ' hui.

This outbreak is worrying consumers association CLCV, which reports that 3.4 million French are already considered in a situation of "fuel poverty".

For now, the government has not yet responded. But if inflation fuels should continue as is likely, the government once again encourage operators to exercise restraint.

The investors in Asian financial centers have yielded to the temptation of profit taking in this weekend, after the Japanese values have hit a high of six months during the session. It ends in Tokyo on Friday on a drop in the Nikkei by 0.1% to 10,178.32 points.

The benchmark index of the Japanese market had yet started the session on strong earnings, driven following the trend on Wall Street. But while U.S. markets ended sharply higher, driven by considerations such reassuring on employment in the United States, Tokyo Stock Exchange and the Asia-Pacific returned to calm. Trade volumes have proved tenuous Friday. And changes in the indices of the region have become moderate.

In Hong Kong, the Hang Seng closed up 0.13% at 23,480 points, while the key index in Shanghai fell by 0.13% points in 2974.In India, the Sensex stood at 20,000 points (+0.03%). It Autralia that growth is more pronounced effect in the ASX earns 0.38% to 4780 points.

The monetary policy of China will be "prudent"

China has attracted the attention of investors by announcing first that will tighten its monetary policy: the latter, described as "relatively accommodative" will be "prudent" next year, to fight against the inflation.

China has also attracted interest in disclosing the amount of gold imports. Between January and October, they rose by 480% over one year to reach 209.73 tons, according to the China Business News (Diyi Caijing Ribao). The volume of gold traded on the Stock Exchange Shanghai Gold rose during the first ten months of the year from 43% to 5014 tons, said its chairman Shen Xiangrong business daily.In value, these transactions increased by 79% to over 1.3 trillion yuan (148 billion euros).

Advertising at Nissan and Samsung

The Japanese automaker Nissan will release its electric car, the Leaf, Dec. 20 in Japan before the end of the month in the United States and later in Europe, said Friday the Japanese automaker. Voted "Car of the Year 2011" by a European jury a few days ago, the Leaf will appear in four countries of the Old Continent in early 2011 (Ireland, Netherlands, Portugal and United Kingdom).

Korean Samsung Electronics has a new president: the group said in a statement Friday, the only son of the current CEO has been appointed to this position, to 42 years "to prepare for the future in a changing environment rapidly. "

"We want to be facilitators for our customers." This is the leitmotif of Stéphane Richard, the new boss of France Telecom. One concern that is reflected into the design shops. The group will announce on Wednesday the opening of two department stores in the mobile phone, a completely new kind. One will open in Lyon on December 10 530 square meters, another in Lille on December 15 on 600 square meters.

Larger than the classic Orange stores, the group will, with these stores, put "people at the center." Each store has a large sales force, or about forty people.The goal is to better advise, educate customers and assist them in understanding new technologies.

"For a purchase, the customer has 100 questions"

"Today technology is so fast, allows so many different uses for a purchase, the customer has 100 questions," said Hubert de Malherbe, the designer in charge of the project. With achievements including Carrefour Franprix, Sephora, Dior, Veuve Cliquot, Djed airport and many international projects, the agency Malherbe Design is now a leader in commercial architecture. "Technology has surpassed users. The products are so sophisticated that people do not use all the features.We want to recover from the cold in this friendly technology, "says Hubert de Malherbe.

The stores, designed with high ceilings, are organized around four clusters according to use: "the sports division with cubes of fake grass and unstructured sofas, the music division of spots with ramps and an atmosphere internship Pole games with big bikes, the TV division with a cozy interior, "said Hubert de Malherbe.

In Lyon, the phones are on the floor and the ground floor is dedicated to services for users. "The emphasis is on service before, during and after the sale, observes Hubert de Malherbe. It has refocused people and the best way to help people, it is still people. "

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Total signs a positive third quarter. According to a statement released Friday, the group's net profit jumped 47% to 2.8 billion euros. Adjusted net income reached 2.5 billion, up 32%. The latter figure is close to 2.421 billion expected by analysts.

The production is also consistent with expectations 2.340 million barrels of oil equivalent per day (+4.3%) against 2.326 million expected. This increase is explained by "the rise of new projects," the statement said.

The group noted that the closure of the Dunkirk refinery is the main reason for the 3% decline in volumes refined in the third quarter. "The group has maintained good operational performance in its other refineries," says Total.

The price of Brent crude gained 35% over nine months

The turnover in the three months climbed 19% to 40.180 billion euros.This result is supported by an increase in the average price of a barrel of Brent over the period. The latter averaged 76.9 dollars per barrel cons about $ 68 in the third quarter 2009, an increase of 13%.

In the first nine months of the year, net income Group share reached EUR 8.541 billion, up 34% while sales grew 25% to 119.112 billion. "Compared to the first nine months of 2009, the oil market for the first nine months of 2010 was marked by an increase of 35% of the average Brent price at 77.1 dollars per barrel," said the group.

Production over this period is marked by an increase of 6% to 2.375 million barrels of oil equivalent per day.

Quarterly distribution of dividends

For the remainder of the year, Total has announced a goal of maintaining its debt ratio in the range of 25-30%.Without giving prospects of impact, the oil group notes that early in the fourth quarter has been marked by "social movement against pension reform (which) have resulted in the temporary refinery in France."

The continuing decline of the dollar combined with rising crude prices with the "winter season approaches, consider leaving a late positive year for the oil giant.

Total points out that it will pay a deposit in November for the 2010 dividend of 1.14 euro per share. The Board of Directors meeting Thursday, decided that the dividend for fiscal 2011 would now be distributed quarterly, "the first to be paid during September 2011.

At the Paris Bourse, the stock price to close an equilibrium, despite the ads. Total title loses 0.04% to 39.05 euros in a market down by 0.03%.

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How to use holidays and RTT we can not take? Those who can place them on a time-saving account (CET). With this proposed budget mostly by large companies, they differ in their vacation a few years. Others, however, transform them into retirement savings. Since 2008, employees may indeed "monetize" their RTT, ie transform them into money to be invested on a Perco (retirement savings plan). Provided, however, that these holidays have been placed previously on a time-saving account (CET).

For now, each employee can invest a maximum of ten vacation days or not taken by RTT year.

"The formula for success because in some companies, employees accumulate many days off and leave them unable or unwilling to take," says Jerome Dedeyan, president of the firm Debory.For their part, companies are, too, winning. "The sums paid into the Perco are largely exempt from employer contributions," he says cash till payday advance.

But the bill on pension reform which should be passed by Parliament in the coming days plans to go further. Thus, in future, employees with Perco should be able to turn twenty days of vacation per year in retirement savings!

For their part, those who work in companies that do not incorporate time-saving account will place five days off or vacation per year on their Perco. That way, employees of small enterprises (SME and TPE) can thus, too, save for their retirement without producing too much financial outlay.

Especially since that company executives are also entitled to Perco, retirement savings is growing faster in small and micro businesses."Thirty thousand Perco are open all year in the SME and SOHO. This comes at the expense of Madelin contracts, "says Jerome Dedeyan.

Lefigaro.fr / jdf.com – The steps taken last August by China * you seem sufficient to prevent a housing bubble?

Xavier Linsenmaier – These measures were intended to reduce property prices. Instead, they have stabilized. The Chinese government has acknowledged that they have not had the desired effect and should therefore return to the same type of measures. Namely increase financial input, limit the number of residences per household residential demand proof.

Such measures had caused panic among investors in 2007. Developers have learned the lessons of the past and better manage the relationship between supply and demand. The stable price environment is favorable. China will not know the real estate crash.

What are the reasons that makes you think there will be no housing bubble in China?

I see four reasons.First, higher wages and property prices are the same for five years (about 12% per year). Thereafter, the level of household debt is low, and only 16% of buyers are speculators. For 84%, so it's shopping for occupancy. Moreover, China's minimum personal contribution to fund a property purchase is 20%. However, a CLSA study (subsidiary of Crédit Agricole, Ed) shows that the average personal contribution for the goods purchased with a mortgage is more than 36%.

Finally, contrary to what might happen in the U.S. and Europe, Chinese banks keep the real estate debt on their balance sheets, there is no phenomenon of securitization, much less organize a financial market mortgage loans.Chinese banks are healthier than American banks.

Last June, an adviser to China's central bank said however that the problems of overheating real estate market in China are more serious than those known by the United States before the crisis of subprime payday loans.

Chinese leaders are very proactive and know better manage bubbles than their American counterparts. Capital reserves are larger in China than the United States. The power is more centralized and not so interested in it.Moreover, banks have been recapitalized massively, like Bank of China, which last summer issued nine billion dollars in convertible.

The development of the real estate sector in China is not it linked consumption?

The Chinese real estate is actually very related to the sharp increase in consumption which accounts for 36% of China's growth this year. However, Chinese statistics are usually difficult to verify and often biased. Several studies including those of Morgan Stanley have demonstrated that the proportion of Chinese consumption in GDP is significantly underestimated. It is probably closer to 50% as 36%.

Other elements that should support Chinese consumption, higher wages and the gradual revaluation of the yuan, which will allow the government to control rising inflation caused by rising wages.

What types of assets should I play the Chinese real estate?

Convertible bonds in China, while protecting investors against declines in stocks, provide access to China's growth. September is a record month in terms of convertible bond issues in Asia Pacific with nearly seven billion dollars. It goes back to 2004 to find such a context.

* The China Banking Regulatory Commission (CBRC) has required institutions of the country to conduct new tests of stress, to measure their exposure to real estate.The measures aimed to lower prices per square meter of 50% to 60% in regions where they are most advanced. In the end, they are rather stable.