Even Sotheby's, all recipes are good for boiling the kettle. On 23 September in New York, establishing world-class sales, which usually dispersed collections of paintings or jewelry the most prestigious, will auction … vegetables. But not just any old vegetable he will, almost extinct varieties of pumpkins, pumpkins and eggplants with the production, organic of course, is essentially American. Farmers in several states are currently pushing so valuable prizes. Simmered meals by top chefs and baskets will also be awarded.

Funds raised during this sale, called "The Art of Agriculture", are intended to teach children about nutrition.Agricultural projects for new organic farmers are supported.

Very rare, these vegetables will be presented very expensive: Unions mixing gourd "Lady Godiva Squash" and other "Pink Banana Pumpkin" will be priced at 1000 dollars. If vegetables are then donated to charities, gourmets can buy discrètement.Charles Gautier

In the past, finding a cheap and low cost health insurance posed problems to a lot of people in terms of availability and cost.

After opening at 3746.56 points on balance, the CAC 40 suffered some profit taking and lost around 10:30 just over 0.5% to 3726.45 points. At midday, the index feature yielded 0.54% to 3727 points before picking up one hour before the opening of Wall Street. 14.30 ACC exceeds 3750 points (+0.13%). Tuesday evening now, the benchmark index of the Paris market had bent slightly, from 0.12% to 3747.51 points, while nearly 3,750 points in the wake of Wall Street, penalized by economic indicators so good that anticipated.

Investors reacted positively Wednesday morning, however, the results of Societe Generale, published before the opening, and that are much better than expected.Monday, BNP Paribas and HSBC had already published accounts reassuring and had restored confidence to investors worldwide.

In Asia, Tokyo has fallen sharply while export values are penalized by the yen continued to rise against the dollar. At 85.5 yen to the dollar, the yen has never been stronger.

Economic News still loaded

On Wednesday, the macroeconomic news might still punctuate the markets. In the euro area, the focus will be on the PMI services and composite July (2nd estimate).Growth in the French sector of services has accelerated slightly in July, but expectations of entrepreneurs are less strong, according to the PMI survey published Wednesday by Markit Economics.

At 11:00, retail sales in the eurozone emerged flat in June mainly due to lower sales of food products, following a 0.4% increase the previous month (revised from +0.2%) but show a larger increase than expected 0.4% in one year, after 0.6% (revised from +0.3%) recorded in May Economists polled by Reuters had forecast an average increase of 0.1% from one month to another as well as annual.

Overseas, the ADP employment figures in the private sector in July will be well attended in the financial world, at 14.30. Then at 16 hours, the ISM index of activity in services should lead the market.Finally, at 16:30, the traditional weekly crude oil stocks are known. All these figures of importance, so that on Tuesday, the statistics on consumer spending and incomes of households were poorer than expected.

Société Générale and Axa have done better than expected

As for values, investors have been informed by stock-half-year results of Societe Generale (1.38% to 46.02 euros) payday loans. Net income was more than tripled to 1.084 billion euros in the second quarter. Economists expected a doubling.Moreover, its Greek subsidiary Geniki announced a widening its net loss in the first half, the economic difficulties the country promoting the proliferation of bad loans.

AXA (-1.76% to 14.47 euros), has reported net earnings in the first half down 29% to 944 million euros. It's better than expected and operating income, which excludes special items, spring, him, down 3%.

Suez Environment (-0.23% to 15.14 euros), which specializes in managing water and waste, noted Wednesday its growth forecast for the full year 2010, after posting first half results strong growth. Jean-Louis Chaussade, CEO of number two French water treatment and industrial waste, says his group's performance in the first half.

Bic (+0.54% at 56.10 euros).The group anticipates a slowdown in particular the growth in sales of lighters and razors in the second half.

Sopra (-0.02%) and Iliad (-1.15%) also posted pre-market.

Maurel & Prom: + 68% of first half sales

Energy. Departments of Ecology and Economy announced Tuesday that the government planned to increase to 15 August electricity rates by 3% on average for households and 4% to 5.5% for businesses. EDF is the head of the CAC 40 to 34.7 euros.

Maurel & Prom (-0.45%% to EUR 9.78) Tuesday announced sales up 68% in the first half of 2010, helped by the rise in production fields in Gabon and in particular into production fields and Omgw OMBG. Note that the oil companies are particularly sought after in recent sessions.The oil was indeed installed comfortably beyond 80 dollars.

Vilmorin (+0.17% to 74.63 euros) Tuesday posted a consolidated turnover from 2009 to 2010 up 6.2%, supported by his vegetable business. The fourth seed has confirmed global forecast fiscal year 2009-2010 ended June 30, "a good performance of its margins," despite the increased "significantly" from its research investment.

Teleperformance (-0.72% to 19.31 euros) announced Tuesday for the first half rose 3.9% in sales on a reported basis, down to a 2.6% decline in comparable, indicating that positive impact of its restructuring plan on the second play of the year.

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).

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Barely buried by the G20 already risen by the European Union? The leaders of the 27 would have agreed on the principle of a tax on banks, according to AFP. Agence France-Presse has procured the draft final agreement from the summit of Heads of State of the EU on June 17.

The text states that "the European Council agrees that a tax on financial institutions to be introduced to ensure that they contribute to pay the price crisis." The implementation would occur in "October 2010", according to the document approved by the ambassadors of member countries in Brussels.

The EU, supported by the Franco-German agreement on the subject, then move only hear about this proposed tax. The G20 had indeed rejected the draft on June 5 last, at the request of Japan, Canada and emerging economies, including Brazil.The topic will be placed on the mat during the next World Summit in Toronto in late June, at the initiative of the Europeans.

"The debate is over"

If the 27 Member States seem to agree on the principle of bank charges, how applications are still a problem. Finance ministers should floor on the issue to ensure "equal treatment" between banks to prevent the European institutions are not penalized compared to their foreign competitors.

EU leaders also wonder on what basis will apply the tax, ie the profits or assets of banks, for example. The biggest uncertainty also use it will be made of revenues generated. "The debate is really over," admitted one European diplomat.

The European Commission wants a fund of insurance of the financial sector, and giving assistance to banks in case of major difficulties. Paris and Berlin for their part, prefer that the money collected feed budgets. "Of what use to mobilize billions of euros in an insurance fund for money to sleep?" Asks a diplomat.

Finally, a country like Luxembourg, a leading financial center, particularly for investment funds, would prefer to introduce a tax on financial transactions in the most speculative.

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The offer of Atos Origin WorldPay should remain on the sidelines. The group has never officially confirmed his candidacy on redemption of the subsidiary systems of payment by Royal Bank of Scotland, is not among the three investment funds selected by the British bank, according to information from newspaper economy.

The software houses had yet been joint bid with investment firms CVC Capital Partners and Welch, Carson, Anderson & Stowe. In addition, the acquisition of Wordpay assessed by the press between 2 and 2.5 billion euros, would have Atos create synergies with its electronic payments Worldline subsidiary.

The list of contenders is long

But the list of contenders is long.Investment funds Clayton, Dubilier & Rice, Permira (associated with American Express), Advent International, Bain Capital and TPG or Canadian society Moneris Solutions payment systems had expressed interest in WorldPay. The price of the subsidiary of RBS has thus vanished, the paper suggests a proposal exceeds 4 billion euros, and the bids were the highest preference.

Another obstacle to the acquisition of Atos WordPay, SSII debt still stood at 139 million euros at end 2009. This impedes the French group to compete with investment funds. Especially that Thierry Breton, arrived at the head of the group November 16, 2008, has always said he was not overpaying for an acquisition issue.

An alliance with a fund is still possible

For now, the group opted for prudence.But he could return to the race if one of the three funds withheld wanted an alliance with an industrial partner, an option that remains open as the business daily.

The World Bank took into account the weight of so-called "developing and transition economies" in the global economy by proposing to increase their voting rights in the institution, as requested in September by the G20, transferring at least 3% of the votes of advanced countries to others.

The 186 shareholder countries of the World Bank have agreed, after the spring meetings of the International Monetary Fund (IMF) in Washington, for a capital increase – the first in 20 years – 3.5 billion ($ 2.6 billion), in addition to which only the developing countries could add 1.6 billion dollars that will allow them to increase their voting rights.

"The approval of this change on voting rights is crucial for the legitimacy of the bank," said World Bank President Robert Zoellick.

China will hold 4.42% shares

Ultimately, it is 3.13% of rights that should be taken from one side and granted each other, allowing developing countries to hold 47.19% of the voting rights of the World Bank.

Among the big winners (r) evolution – the issue of transfers of votes is the subject of debate for several years – China, whose rights to vote from 2.77% to 4.42%, to climbed to third place in the countries most represented, after the United States (15.85%) and Japan (6.84% against 7.62% previously) electronic check payday advance.

"This represents an important step towards a new balance between developed and developing countries" reacted Chinese Finance Minister Xie Xuren was quoted by the official Xinhua News Agency.

Brazil (2.06% to 2.24%) or India (2.77% to 2.91%), have also benefited from this review, for example at the expense of France, whose share was down by 4.17% to 3.75%. Ditto for Great Britain.Germany now holds 4% of the votes, against 4.35% previously.

Faster, more flexible

The Development Committee of the Board of Governors also approved an increase of 86.2 billion dollars of capital to the International Bank for Reconstruction and Development (IBRD).

"The additional capital can be used to create jobs and protect the most vulnerable through investments in infrastructure in small and medium enterprises and social safety nets," said the head of the institution .

The committee was in favor of the new Bank strategy for post-crisis and "a set of sweeping reforms to make the Bank faster, more flexible, making it more accountable for its actions" .

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The level of corporate failures falls back down in October 2009 on a month, while remaining at a high level because of the fragility of economic conditions. INSEE reported Friday a drop of 7.9% of these corporate failures in October 2009 compared to September, after declining by 8.8%.

In one year, the trend is however extremely unfavorable failures have increased by 12.2% over the previous year. SMEs, the first victims of the crisis have been particularly affected by the carnage of 2009. Coface points out that in the summer, the number of failures rose by 80% when they grew by 55% for micro-enterprises. Companies or groups producing a turnover of more than 50 million euros have instead benefited from relative stability, albeit with a downward trend.As for the sectors most affected, manufacturing, real estate and transportation have paid the heaviest toll, according to the latest Deloitte.

For 2010, the trend is not open to the improvement. The observatory Coface anticipates stabilization figures failures at very high in 2009 (67.000). The two components of total failures should in fact be offset: the bound, very normally, demographics businesses should help to push further failures, due to the increasing number of businesses created. In contrast, the component related to the economic crisis as it should gradually decline, until they find the second half of 2010 "a symmetrical curve than the end of 2008"

The Economy Minister, Christine Lagarde, hopes that SMEs and mid-cap companies (ETI) employing less than 5 000 people found the path of the Exchange. It proposes that the European Commission to set up a "small business act" of securities law. For this she draws the report to be presented Demarigny Fabrizio, director of capital markets activities of the Mazars Group. The document proposes 20 measures to establish a financial environment and regulatory framework. Because SMEs are less likely to go public. According to the European Central Bank, only 1% of European SMEs have issued shares or calls to investors.

The report proposes that the Small Business Act adopted in Europe in June 2008 to promote SME development should be extended to securities law.

Fabrice Demarigny recommends "creating a European definition" for this category of companies listed named "smilies" – "small and medium sized issuers listed in Europe 'cash advance . That would be "at the IPO companies for which the amount of funds raised is less than 75 million euros. Member States should be able to set a lower threshold for the companies they own the home Member State ".

Standards Simplified

Fabrice Demarigny proposes that the documentation requirements for listed companies is shorter and more readable for large groups. For example, financial information could cover only two years. Companies are allowed to publish their financial reports within three months instead of two now.He asked that the IFRS to be adopted by all companies are simplified by giving them the opportunity to use the IFRS for SMEs. For it is "thinking small" that Europe can expect to find a new economic breath.

No question of dropping the industry and its employees. While unemployment is back to over 10%, Nicolas Sarkozy, traveling to Marignane, Eurocopter's headquarters, close to the States-General of Industry, announced yesterday a series of measures to stop the deindustrialization of France. "France must remain a major industrial nation. It owes its history, it owes to its economy, it needs to its people, "said President of the Republic. He added that we have "no sustainable growth without a strong industry.

Since 2000, metropolitan France has lost half a million jobs in the industry, which occupies more than 13% of the workforce, against 16% ten years earlier. As a result, France became the "great European country most deindustrialized," said the head of state, far behind Germany and Italy."This is not the result of fate" but he believes the consequences of the introduction of 35 hours and high costs which have "deliberately obstructed" for years industrial development. It is also the result, according to Nicolas Sarkozy, weak innovation (which represents 7% of the value as against 10% in A1lemagne, Sweden and Finland), falling from 35% of investment Ten years of low profit margins that reach 29% of the value added against 35% in Germany.

"You could not sit idly by," concluded the President, setting ambitious targets the government: to increase industrial production by 25% by 2015, sustaining employment in this sector and return within five years to industrial trade balance positive.

To achieve this, the Head of State intends to act in three directions.First axis: the establishment of a sectoral policy. Determined to support the most promising sectors, like "chemistry, software, food processing, electronics, Nicolas Sarkozy announced the designation for each branch of a" forum for strategic reflection and exchange. " 300 million euros from domestic borrowing will be devoted to this policy sector, to create particular sector funds in the image of those that already exist in the automotive, aerospace and biotechnology. A mediator of outsourcing will also be appointed by end of March, on the example of the Credit Ombudsman.

Towards the creation of a "relocation allowance"

Second axis, Nicolas Sarkozy has urged the government to "profoundly rethink the taxation of savings, to encourage them to move towards funding equity firms.One track of this reflection is the creation of a savings book industry or the expansion of the booklet sustainable development industry. The President asked the Minister of Economy Christine Lagarde to make tax proposals before the summer.

Finally, the third axis, the president wants "deep state sees its role as shareholder" by strengthening its presence on the board of directors of companies of which he is a shareholder by a second officer representing the department.

Beyond these three tracks, the head of state also hoped that the tax relief be reconsidered, the sectors most exposed to international competition are those receiving the least to reduce charges.He also announced to encourage return of relocated activities, the creation of a "relocation allowance" in the form of 200 million Revolving three years, funded from the general loan. These different sites will be monitored through a national conference of industry, which will extend the work of the States General. It will bring together companies, employees, branches and members of government.

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