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The support is not official, but the formula leaves little room for doubt. The U.S. treasury secretary, Timothy Geithner, "believes that the experience and solid leadership skills of the Minister Lagarde make her an exceptionally gifted candidate for the general direction of the IMF." In the race to succeed Dominique Strauss-Kahn to head the institution, is a way for Washington to support the European rather than his rival Mexican Agustin Carstens.

This statement therefore encourage what Christine Lagarde who must, on Thursday, passing his oral exam before the Board of the IMF. She must convince the 24 members it is the most capable of governing the IMF in the current turmoil. Agustin Carstens, he led his interview Tuesday.

The Mexican Fund for an impartial

During this session, had said Monday the institution, "each candidate will present his views on issues facing the Fund and its member states, and administrators will be able to interact with the candidates." Mexicans called for an increased IMF resources permanent, impartial, representing more emerging economies on its board of directors.

Christine Lagarde was in turn focus his presentation on an IMF "responsive, cooperative, legitimate and fair." So far, she expressed hostility to a restructuring of the Greek debt. When asked whether she was confident before the interview, the French Minister exclaimed: "Forever!".

Two shadows loom, however, about his candidacy. First, the case Tapie, who has rebounded earlier this week, and the Greek crisis.Brazil has indicated, through his representative at the IMF, Paulo Nogueira Batista, he expected the future Director to hold a position of severe vis-à-vis Greece: "We need strong action to obtain from Athens, and a clear financial commitment on the part of the euro area. A general statement is inadequate. " A position held since the beginning of his campaign by Agustin Carstens, who says he even opened a debt restructuring if necessary.

Preordained

For many observers, however, the game is a foregone conclusion for Christine Lagarde. "The French Minister on course to win," and headlined the Wall Street Journal on Thursday morning. She enjoys the strong support from almost all European countries, over 15% of the vote.One member of the board should, however, provide support to Agustin Carstens: Mexican director representing Spain and Latin America, 4.7% of the vote. Brazil has not made clear in his favor.

The decision should ultimately be taken on the basis of consensus, not wanting the institution or place one of its member countries is at odds vis-à-vis a future director or humiliate an unsuccessful candidate. The outcome of the deliberations is expected Tuesday at the earliest, and June 30 at the latest.

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The deputies continued Friday to review the draft budget law amendment removing the tax shield and reducing the ISF. As expected, they voted in Article 1 of the bill abolishing the wealth tax for estates of less than EUR 1.3 million and revised the scale for the highest wealth. Now between 1.3 and 3 million of assets, the rate of TFR will be 0.25% from the first euro over 3 million, it will be 0.5%.A discount mechanism will correct the effects of threshold to prevent the wealth around these new terminals are losers compared to the previous situation.

During the final debate, which were to continue late into the night or Saturday, the members have changed two important points of the original text of the government, which will have a direct impact on taxpayers.

30,000 euros per decade

Proposed by the Rapporteur-General Budget, Gilles Carrez, the shield will reverse charge from 2011. Specifically, beneficiaries under the shield of their 2010 income will be imputed directly to their ISF, payable before September 30. Until now, the reverse charge was voluntary, and beneficiaries of the shield receiving a refund check from the treasury for several months after paying all their taxes.By forcing taxpayers to deduct that amount directly from their ISF, the government is spared thus a new controversy over the amount of refund checks that were received by a few large fortunes during the spring 2012 presidential election in full.

In addition, Members noted the reduction in ISF for each dependent child (including the majors pursuing studies), raising it to 300 euros against 150 euros previously.

The second set of changes to the law on donations of money. On the proposal of the Government, members agreed to authorize the renewal every ten years of the exemption from transfer taxes on gifts less than 30,000 euros.Since the law Tepa the summer of 2007, it is possible to donate money to his children, grandchildren, great-grandchildren, or failure of issue to his nephews and nieces, without incurring tax (ie, without paying gift tax). And that, provided the donation does not exceed 31 865 euros and that certain rules are respected age. It's sort of a particular form of donation.

The government amendment relaxes the system. Thus, in case of gift to a child, the parent must have less than 80 years, and not, as now, less than 65 years. This threshold of 80 years is also one that is already applied to gifts to grandchildren or great-grandchildren. In addition, the amendment authorizes such gifts of money tax-free every ten years, whereas previously this could only be done once.The cost of this measure is estimated by the government between 20 and 30 million euros from 2017. It is in effect from that date that the first donors who benefited from this measure in 2007 will give back to their descendants. Good news however for holders of life insurance. Gilles Carrez's proposal to raise 20 to 25% taxation of life insurance in case of death, to the heritage of over 903 000 euros, was rejected.

The solemn vote of the Act is expected Tuesday.

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SFR launched Tuesday its new line of mobile phone plans. With two major innovations. On the one hand, the possibility of a subscription without changing phone. In return, the package price would drop, drop up to 35% or 45%. An operation by which shock SFR is preparing for the arrival of Free, who has promised to halve the bill of a mobile home.

It is also a break with current trends in the mobile consumer, where the majority of subscribers are systematically changing phone – even if they still works – as soon as they leave for a new package of 12 or 24 months. Environmentally unfriendly habit while recycling is cumbersome to organize and costly for operators heavily subsidize the purchase of the phone.

The operators seem determined to break this vicious circle."Until now, subscribers have paid for urban subscribers of fields, those who do not change their mobile paid for those who changed all the time. Today, someone who does not change his mobile will pay less, "said Frank Cadoret, managing director of consumer and professional SFR La Chaîne Techno. Numericable and La Poste, which both come to embark in Mobile, made the telephone subsidy packages without the spearhead of its strategy to offer aggressive pricing packages paperless payday loans.

Bill Lefebvre

One way to take the lead for several months while the regulator (Arcep) wants to clarify the grant of the mobile.And it is also an objective of the Secretary of State for Consumer Affairs, Frédéric Lefebvre, who introduced his bill on consumer protection, on 1 June

The question remains whether consumers will be seduced, while, in turn, device manufacturers continue to offer ever more innovative models, adding 4G, 3D, contactless payment technology and other discovery.

Another new SFR must formalize its agreement with the online music site Spotify announced in Le Figaro (our editions of May 14). Like with Deezer Orange, SFR will offer several packages including mobile phones with unlimited Spotify. One way to consider another major change current practice: the decline of the voice and the booming exchanges of data, whether text messages, emails, web, video or music files.

The Paris Bourse started the week with no major trend. After an opening down slightly from 0.29% to the image of Asian stock markets this Monday morning, the Cac back in the green but very moderately. At mid-session, he won 0.10% to 3954.86 points. Today, the London hotel market is closed while Wall Street will not open either and will celebrate Memorial Day (as every last Monday in May). The Cac 40, which had ended the week on a nice increase of 0.86%, managed to climb to 3950 points on Friday night.

This Monday, we will particularly impact that will follow the announcement by Germany to close its last nuclear reactors by 2022. The country became the first industrial power to abandon atomic energy.Already in China, the values ​​related to coal soared when he appears as the best vehicle for investment, better than solar or wind power in the future.

European side, the news is charged. The Greek Finance Minister George Papaconstantinou said was confident Sunday in the payment of the next tranche of EU-IMF loan to avoid bankruptcy for rejecting an article of the German weekly Der Spiegelmettant doubt this release. Note that the Athenians flocked in their thousands on Sunday night in the central square of the capital, before the parliament, the fifth day of a successful mobilization against austerity, modeled on the Spanish "Indignant".

Ireland, she may have to request a new loan to the European Union and the International Monetary Fund if it fails to return on the bond market to raise funds next year, said Minister of Transportation the columns of The Sunday Times.

On the foreign exchange market, the euro retreated slightly against the dollar Monday in a quiet market due to the closing of financial centers in the United States and England. Around 0900 GMT (1100 Paris), the single European currency was worth 1.4291 dollars against 1.4317 dollars on Friday night.

Values ​​on the forehead, that Monday is the day of commencement of trading of shares of Areva. The beginning of the session is particularly volatile for the action that keeps change from red to green and almost abandoned from 3.47% to 29.20 euros.

The group's president, Anne Lauvergeon, also believes that the nuclear reactor projects under consideration will be delayed by about 6 to 9 months because of the review of data on plant safety, said Monday its president .

Renault leaves% to 0.18% 38.99 euros while known to be the name of the successor of Patrick Pelata to senior management. Portuguese Carlos Tavares, 53, an avid sports car and head for the Americas of the Japanese Nissan, Renault's affiliate, should be named the number two automaker French.

Dexia advance of 2.03% to 2.467 euros. The Belgian-French group will pay no dividend for 2011 due to the cost of asset sales announced Friday, said its chairman Jean-Luc Dehaene, Belgian daily L'Echo.

EADS gained 0.29%.Its executive chairman Louis Welsh said that he supported the introduction of a veto in the defense sector to prevent hostile takeovers, in an interview with Focus magazine. "It's not about bags and luxury goods, we are in an area of ​​national interest," he said.

Technip advance of 0.12% while the group was selected by Samsung for its Floating Shell gas extraction.

Total (-0.04%) acquired 25% of an exploration license offshore Qatar for an offshore field that extends over 5,600 square kilometers.

Petroleum.The Economy Minister Christine Lagarde said Sunday that the government could impose on oil to reduce fuel prices at the pump if they do not justify the price drops enough found so far by the administration.

Hermes pressure

Hermes was down 1.17% to 177.2 euros while the group holds a very important meeting on Monday. Saddler said the appeal: the voice of Hermes family shareholders, Bertrand Puech denounces "attempts to destabilize" the company by LVMH. The Adam, she filed a lawsuit that the family can not merge into a holding company.

L'Oreal (0.43%).Daughter of Liliane Bettencourt, Françoise Bettencourt Meyers, June 6 to ask the investigating chamber of the Court of Appeal of Bordeaux to cancel all records Bettencourt, citing a procedural issue attributable to the prosecution Nanterre.

Trading in Meetic is suspended while his American counterpart Match.com Announces Intention to bid for all outstanding shares of the French site. Internet dating site offers 15 euros per share in cash offer for its competitor.Its parent company said already hold 27% stake in Meetic.

Medica (-0.63%) announced Monday it had signed an amendment to the credit agreement that was signed in June 2010, taking advantage of favorable conditions in the debt market to increase its financial capacity.

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The chic below Chantal Thomass change hands. The Sun Brand Apparel Group, its owner since 1998, sells the brand premium to the group Chantelle. Works just be informed and that of Sun reported Monday a favorable opinion. Only remains to finalize the signing of the founder, Chantal Thomass, who holds 34% stake. It is currently negotiating an agreement to continue to oversee the creation and an option to sell its shares in the next few years. The transaction price is estimated at 6 million.

"It's been ten years that Sun is planning to separate from the brand but had always hitherto encountered opposition from Chantal Thomass, says Luc Genet, elected at Sun CFDT Our group realized that the Luxury was a world apart from ours and not as profitable as retail.They have not occupied the brand and let it sink. "Turnover Chantal Thomass would be increased from 14 million a decade ago to 8 million last year, with a loss of 2 , 1 million. According to the union, the shareholder of Sun for five years, the U.S. fund Sun Capital Partners, "undressing the bride to return the cash before selling the group."

With Chantelle, Chantal Thomass is a partner of choice Faxless payday loans. It is indeed one of the last French lingerie that has not resigned to suffer the inexorable decline of the sector. Employing 6,200 people for a turnover of 340 million euros, he went all-out on the distribution and brand while keeping both plants in France.Together with its claws Chantelle and Passionata, he developed the brand Darjeeling (126 shops in France) and acquired in 2006 Orcanta group Pinault (56 stores), which are already sold products Chantal Thomass.

Private name

The designer to the eternal dark fringe is about to write a new chapter in the eventful life of its brand. After having sold the Japanese group in 1985 World, she had been dismissed and deprived of her name. Then the company was liquidated in 1996. Chantal Thomass was then able to redeem his name and raise its claw with the Sun group, then in the hands of the U.S. Sara Lee. 42 employees will be included by Chantelle as part of the redemption. The elected Dim worried about the activity of other employees who worked in part for Chantal Thomass, one year after the restructuring, the group also Sun, the Playtex brand.

Rome will soon respond to the warning of the rating agency Standard & Poor's. After that it has threatened Friday night to degrade the note from the Italian debt, the government hinted Monday that he would introduce an austerity plan 35 to 40 billion euros in June, the agency Reuters quoted a government source. If you believe the latter, the date of submission of the measure was advanced to make "a signal to markets", namely that Italy holds the cords securely in its budget.

The Berlusconi government, weakened by recent electoral setbacks, has sought to defy Standard & Poor's. The latter said Friday that, "according to [his] point of view, the current growth prospects for Italy are low, and political commitment to reforms improving productivity seems faulty."Accordingly, the agency changed its outlook on the rating of Italy from stable to negative. There is one chance in three that this warning is followed by a deterioration in the Italian note, currently located at "A +", the 5th best possible. Italy is still far notches -6-category called "speculative".

Low growth

In response, the cost of insuring against a default of the Italian debt, very sensitive thermometer of the market sentiment has surged 15 points Monday, to 176 basis points. "Italy is in the viewfinder of the rating because its growth was disappointing," says Jean-Francois Robin, strategist at Natixis. In the first quarter, the economy has virtually stalled, its gross domestic product (GDP) grew by only 0.1% against 0.8% in Greece, or +1% in France.Italian growth was the lowest in the euro area between 2001 and 2010, also said Monday the National Institute of Statistics of Italy, Istat.

So far, Italy has escaped the wrath of the markets. Its deficit was limited to 4.5% in 2010, one of the lowest in the euro area. "The Italian deficit is supplied mainly by the debt service, which reaches 119% of its GDP," said Jean-Francois Robin. "This level can not satisfy the government, it must still reduce its deficit." Rome wants to reduce the gap between revenue and expenditure to 3% of GDP in 2012 and reach equilibrium in 2014.

Standard & Poor's is the only agency to express reservations about the trajectory of Italian public finances.Her colleague Fitch said Monday morning that Rome had been better than expected its 2010 goals and the country is on track to achieve those he has set for 2011. Moody's has for its part, reiterated that it has no plans to lower the Italian touch.

LinkedIn assesses its value to three billion dollars in its IPO issue addressed yesterday with the Securities and Exchange Commission, Constable of overseas markets. American professional social network is about to score this month on the New York Stock Exchange.

The startup has warned that its growth could slow in the future, investment is expected to increase the capacity of the site. The site could not even be beneficial shareholder this year. In 2010, it has recorded fifteen million dollars profit on a turnover of 243 million. This income was 78 million in 2008.It has also surpassed the hundred million registered end-March, with 102 million accounts online payday loan lenders.

Some analysts remain skeptical of the optimism LinkedIn whose business model is based on recruiting, marketing solutions and profiles "premium" pay, is very different from sites like Facebook or Zynga, very popular with investors, who rather seek to consume their users via their interfaces. Despite these differences, the IPO of LinkedIn will probably be a good barometer for gauging the success of quotations from other social networks, eagerly awaited.

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Bring together public and private hospitals: it is long and complex, but it can and it can be to the benefit of patients and public finance!

This shows that attempt to Nicolas Sarkozy on Thursday in the Seine-et-Marne. It will include projects in two cities: Fontainebleau, where he is, and her neighbor Melun. This second draft was presented by the Regional Health Agency (LRA) as the largest structure in future public-private hospital in France (850 beds, 85,000 square meters, about 2200 employees). It will bring on a site whose construction must take place from 2012 to 2015, three clinics in the city, merged, and its hospital. Its genesis shows how the reconstruction hospital has become indispensable in this pool of 350,000 inhabitants, as in many others.

"The rate of leakage of patients to Paris or the inner suburbs, 60 km away, reached 50%.It is difficult for families and this complicates the monitoring of patients after hospitalization, said Claude Evin, CEO of LRA Ile-de-France. In addition, surgery, continuity of care was discontinued at night, not having enough doctors in each facility and will be re-assured with the combination. "The project is not only to collect geographically existing facilities. The activity will be pooled (laundry, catering …) or shared: the public emergency, obstetrics, psychiatry or geriatrics, in private surgery.

The kind of cutting, which usually makes them howl unions to "privatize" or "the case of public service." "The medical project was approved unanimously by the representatives of each medical institution, says Andree Barreteau, director of health care provision of the LRA payday loans online.Unions in the hospital, including the CGT, not opposed. They are pragmatic and realize that without this, the reduced activity of the hospital in Melun will continue. "

176 million invested

"It's normal that there is reluctance in both directions, when people have never worked together. But working with the private sector do not sell themselves to the devil, in our case is rather fortifying "abounds Valletoux Frederick, Mayor of Fontainebleau. Background, again, high leakage rate, with a hospital centennial, the town has made the same choice (together his hospital and clinic), at a smaller scale. Objective: an opening in 2015, a project launched in 2005.

At Melun, the LRA has secured commitments of Liberals surgeons to maintain at least 60% of their activity without excess fees.Last point: if the old public-private project, which has had several incarnations, should finally see the day, it's probably also because of the shareholding is made up of relevant clinical physicians. Chains of clinics held by financial investors tend to reorganize their business between private schools they have.

The project represents an investment of Melun 176 million euros. ARS 20 million in funding, the institutions concerned defraying the rest. To balance the operation, the bet – "prudent", according to ARS – is that the leakage rate will fall by 5% with the new facility.

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In real estate, Paris is not France. So goes the refrain sung Thursday by the Higher Council of Notaries. In the capital, in fact, prices never stop rising. Last year, the increase was 17.5% and per square meter was worth, on average, 7330 euros in old housing. The boom continued in early 2011. "From December 2010 to February 2011, prices rose 5.2%, says Mr. Thierry Delesalle, president of the real estate commission of notaries in the Ile-de-France. In twelve month rolling period, from June 2010 to June 2011, we will not be far from the 20% increase. "Soon, the ceiling of 8,000 euros per square meter in Paris will be reached.

Relying on the promises of sales in the first quarter of 2011 signed, notaries believe the square meter in Paris will average 8,028 euros in June. This will rise to 15,500 euros in even the most expensive neighborhood in the capital, the Champs-Elysees.And this movement does not seem ready to break if we are to judge by the large number of transactions: first quarter in Ile-de-France, they rose 16%.

Click on the thumbnail to enlarge the graphic.

Fewer foreigners in Paris

Contrary to popular belief, foreigners are not responsible for the rampant price increases because they are less active than before the Paris market: last year, they accounted for 6.5% of buyers against 7.6% in 2009. The result? "We should see the price differences widen between areas traditionally preferred properties such as Paris and those economically disadvantaged in which a decrease has already been committed," said Pierre Bazaille, president of the Institute for Notarial real estate guaranteed online payday loans. In fact, in the province, the changes are more chaotic.Overall, prices have also increased but less dramatically than in Paris. They set up in 2010 by 4.7% for older apartments and 10% for houses. But since early this year, the situation is contrasted by areas or cities.

In Lille, for example, home prices fell 6% to 170,000 euros on average in Bordeaux, one of the apartments has decreased by 1%. Less than 3% also for apartments in Rennes, where the square meter is now worth 2212 euros. On the other hand, for apartments, in Brest, the price per square foot rose by 7% to 1527 euros per square meter. The increase is more limited but very real (+3%) in Lyon, where the square meter is 3102 euros.

Difficult, with that, whether property prices will rise or decline this year in France. According to Mr. Pierre Bazaille, the trend towards a higher but moderate (between 0 and 3%).A development that will depend on exogenous factors such as rising interest rates on mortgages or advertisements referring to the SP in its program the rent freeze.

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The ousted leader of the Michelin and Danone takes top spot in 2011 salaries of bosses Cac 40 prepared by Les Echos. Michel Rollier has received compensation of 4.5 million euros for 2010. Frank Riboud, head of Danone, he pocketed 4.4 million euros last year and takes the second spot on the podium, followed by the CEO of LVMH, Bernard Arnault, who won 3.9 million euros in total compensation. In total, the Cac 40 bosses have affected more than 98.3 million euros in compensation. The average CEO salaries Cac 40 amounted to 2.46 million per officer, up 24% compared to 2009.

The first of the three managers sponsored by Michelin also holds the record for pay increases: salary soared 505%.This increase is directly related to the rise of the findings of Michel Rollier as not receiving a fixed salary but only secured a bonus based on the results of the giant tires.

This peculiarity makes his annual compensation very volatile from one year to another, as in the previous ranking, published in 2010 and based on total compensation patterns in 2009, the envelope of Michel Rollier displayed in downturn 303% compared to the one he had seen in 2008. He then pocketed 743,000 euros, which was then the lowest pay of executives within the Cac 40. This end up filing returns this year to the CEO of STMicroelectronics, Carlo Bozotti, with 903,000 euros.Penultimate winners of 2011, the CEO of Renault shows a total compensation of 1.2 million, unchanged from last year: Carlos Ghosn has in fact waived his variable compensation following the fiasco caused by the false case of espionage.

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