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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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On Wall Street, futures contracts on the index set are on the downside, the Dow Jones future lost 0.25% and the S & P 500 future bending of 0.33%. The opening of the session should be marked by a decline after the wrong numbers of job creation in the private sector in the U.S. in May, published yesterday by the firm ADP. These statistics had already weighed on the Dow Jones yesterday, which had thus ended down 0.34% to 12,248.55 points.

Among the statistics to follow this Friday, the unemployment rate in the United States in May is forecast at 8.9%, a slight drop of 0.10 point compared to the previous month. Moreover, employment in agriculture in May should show a marked decline from its April level.Economists expect about 125,000 to 150,000 jobs reported last month, against 244,000 in April.

The Fed does not intend to undertake new measures to boost the economy, according to Richard Fisher, one of its members. In an interview with the Wall Street Journal this morning, the president of the Dallas Federal Reserve believes that "the Fed has done its job" and that if necessary additional stimulus measures, "they must come from elsewhere" .

The U.S. Treasury will sell the 6% that still holds in Chrysler to Fiat. The Italian will thus hold a majority stake in U.S. manufacturer. And the state will pocket U.S. $ 560 million.

Short-term domestic concerns will not prevent operators to remain vigilant regarding the conditions for aid to Greece as part of a new plan, unveiled in principle this afternoon personal business card.

Wal-Mart, Walgreen's and VeriFone to follow

As for values ​​to be followed, one eye will be kept open on Wal-Mart, which holds its annual investor day.

The good results published yesterday by VeriFone Systems should provide a nice progression of the title. The figures exceeded the consensus.

Walgreen announced today, before opening on Wall Street, the level of its sales in May: they rose 7% to 6.08 billion, up 5.6% on a comparable basis.Remember that the title had been boosted on Wednesday by a recommendation by UBS improved, which initiated coverage on the purchase of the title, with a price target of $ 51.

Chevron announced late yesterday that four people died in the explosion of one of its refineries in Pembroke. A fifth victim was hospitalized in serious condition.

relaxation on raw materials

As for raw materials, the pressure falls. In this sector, investors await OPEC meeting next Wednesday, which could lead to a decision by the organization to increase its oil production. Despite the many demands and frequent recently, OPEC had refused to put the issue of increased production in its agenda, and has been for four years.The markets will also tend ear to New York, where the French agriculture minister, Bruno Le Maire, must comment on speculation in commodities, at 18 pm (Paris time).

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For the second consecutive year, neither the first nor May 8 to do the bridge in 2011! Labor Day and the commemoration of the armistice of 1945 had fallen on Saturdays last year and this time it's a Sunday.

The timing, thus depriving the French of long weekends or days off, he is at least good for growth? "Sure, in theory, the more days worked, the more activity, purchases, consumption, etc.. There is an effect on the raw data, "said Vladimir Passeron, Division Chief of the quarterly to the INSEE. In fact, France will work more during the month of May, which did not include bank holiday week, the production system will run more than a year so classic.

But it will not be visible in the figures for second quarter growth to be published this summer.Because the National Institute of Statistics and Economic Studies anticipates and smooth the data "in the discipline of working days" and structural effects, says the expert.

Three Saturdays worth a weekday

This correction is not performed when calculating annual growth. Therefore, the sum of the quarterly is not equivalent to the annual accounts! However, it should not be a macroeconomic impact on GDP 2011, relative to GDP 2010. Last year there were 254 days of the week (Monday-Friday) working, there will be only 253 this year. But if the May 1, 8 May 2011 and Christmas fall on a Sunday, the holiday fell on a Saturday in 2010. Gold worked three Saturdays "compensate" a weekday break, says a study by the INSEE.

The timetable "should not impact the annual growth between 2010 and 2011," concludes INSEE.At best, it would have a positive impact of 0.06 percentage point of GDP, at worst a negative point of 0.06. Only the thickness of the line!

Nevertheless, there are years when the holidays can impact less significant. "The growth differential can be up to 1 tenth of a point or more, is Nicolas Bouzou, economist at Asterès. We also know that the years with few working days result in distributional effects across sectors, to the detriment of the industry by example and benefit from tourism. "That will not happen this year.

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The law on the reorganization of the electricity market is now back on track. Tuesday morning, confirming the information of Figaro, Eric Besson, Minister of Energy, said the sale price of the EDF nuclear power to its competitors would rise to 40 euros per megawatt hour as of July 1 next, then 42 euro from 1 January 2012.This device, designed to boost competition in France will be considered in a fortnight by the Regulatory Commission (CRE), which must render a reasoned opinion.

Meanwhile, the government clearly adjudicated in favor of electrical lights: it was still estimated at 42 euros per MWh the full cost of nuclear power (operation, maintenance, future investments …), while its competitors, GDF Suez head, had set the bar at 35 euros, in line with the current regulated rates.

The reaction of GDF Suez has been immediate. The other French energy giant said that "this election will penalize customers who will experience increases for electricity prices." Convergence expected by 2015 between regulated tariffs and prices Arenh (restricted to nuclear power history) will increase mechanics first.The consumer association UFC-Que Choisir dread even price shock, "a rumor, according to Eric Besson, which I would like to help twist the fact."

Also in the eyes of GDF Suez, the high level of Arenh prevent the establishment of effective competition in electricity supply in France no fax payday loans. In these circumstances, the group will study the consequences of that decision and the possible ways to overcome the narrowness of the market opening in the short term induced by the choices of government. "

Another competing operator EDF, Direct Energy (which serves over 600,000 clients), however, shows less severe. Its president, Xavier Caitucoli welcomes first that law enforcement has not been postponed, as had been discussed earlier this month. "After several years the French market was locked, the start of the competition has really come.At 42 euros, it is possible for a competitive operator, although it will be difficult, "he says.

Seasonality

Xavier Caitucoli, it should also not focus too much on the price of Arenh: "The product is also very important and the fact that the volumes of energy vary according to seasonality will make it attractive." Sub- understood: in winter, when electricity prices are very high on the wholesale market, Direct Energy will be able to provide through Arenh on much more interesting.

In this issue, which collects opinions shared, all players meet at least the fact that the accident Fukushima weighed a heavy weight."Somehow, the government has anticipated that the audit of EDF plants could lead to huge additional costs of maintenance and needed to be reflected in the selling price of electricity."

Design software in France is a little less risky. "In the French edition software, 2010 was a year of crisis. The growth of turnover was 16%, to 4.7 billion euros, "said Bernard-Louis Roques, CEO and founder of Truffle Capital, a venture capital firm that finances the ranking of players, called "Truffle 100." He added: "The editors have maintained their investments, especially those for research and development, during the crisis cash till payday. This behavior partly explains the low investment growth Publishers in 2010. "

As for results, the situation improves. "The margins are restored. Net income more than doubled, "added the expert. The first hundred publishers have earned a cumulative result of 543 million euros against 254 million in 2009. It is better but small compared to the situation abroad.

Nuclear, taxes, competitiveness, reform of the eurozone. Prime Minister Francois Fillon has outlined his vision of Franco-German couple in a double interview with the weekly new plant and Wirtschaftwoche. "We need more coordination and coherence between us, Germans and French, he says. We must encourage convergence (…), without any goal of fusion (…). We have launched an exercise of such taxation. We wish to extend to all aspects of competitiveness. "

Nuclear. France does not follow Angela Merkel's desire to abandon nuclear energy, has made it clear lines between the Prime Minister. Fukushima disaster "raises a debate on nuclear policy," he acknowledges. "We must learn all the lessons to enhance the safety of our park."

Taxation.The example of rapprochement between Paris and Berlin tax should be extended to the entire euro area, defended the prime minister. The Pact for the euro, adopted March 11, said he provides "a real commitment to fiscal coordination" in order to end the "harmful tax practices of certain states." But not to the point of "having a single tax," he says.

Competitiveness. In addition to taxes, Francois Fillon wants to follow the example of German industry. "The industrial competitiveness of Germany is a chance for Europe", he explains. His goal? Make French industry "as competitive as German industry."

Purchasing power. During the last decade, the Germans have made great efforts, particularly in wages, to be more competitive.The Franco-German rapprochement does not mean that the French will make the same sacrifices, has implied François Fillon: "Despite the crisis, we have ensured that the purchasing power is constantly evolving and it will still be the case in 2011 .

Public finances. No question of raising taxes to restore fiscal balance. It should rather decrease spending, repeated the prime minister. Asked about the VAT increase, he said that "the current environment of rising inflation does not lend itself entirely to an increase in VAT. Priority is given to reducing tax loopholes.

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The project will be unveiled Thursday at a symposium at Bercy, and haze rises gradually on the path towards the next tax reform heritage. This Tuesday on France 2, the budget minister Baroin said the government recognized two scenarios, developed after "two months of consistent work." The minister said that both proposals include the abolition of the tax shield. The divergence between the two scenarios for the future of the solidarity tax on wealth (ISF). One expects a "fundamental transformation" of the ISF, and the other "maybe" its removal, said Baroin.

For if the end of the tax shield, a key measure of government misunderstood by public opinion and finally considered inefficient, seems determined, the tax on capital is still under debate, even within the majority.The abolition of this tax is symbolic indeed politically risky, and some members, including Richard Maille, Gilles Carrez argue more for development – raising the threshold to reduce the number of taxpayers assessed and modified abatements to protect the primary residence – that for a simple disappearance. The Head of State, Nicolas Sarkozy, would prefer for his "real reform, with some drawbacks" to "a small reform, with all the disadvantages."

A bill expected in May

Since then, many test balloons were launched. Among the most significant, the idea discussed by Nicolas Sarkozy, to tax capital gains from the sale of a principal residence, which he himself finally rejected.Christian Saint-Etienne, professor at Paris-Dauphine, which campaigns for the end of the ISF suggests introducing instead a top slice of income tax and a tax on real estate capital. But "the more likely is that the TFR will be preserved and developed," he predicted.

The symposium on Thursday, chaired by the Ministers of Economy and Budget Baroin and Christine Lagarde, will bring together parliamentarians, economists and business leaders for an overview of the composition of French heritage and a comparison with foreign practices. A bill is expected as early as May "France needs a broad debate on its tax burden," says still in Les Echos on Tuesday the president of the National Assembly, Bernard Accoyer. However, it insite on the fact that the reform must be "fair" and does not worsen the deficits. "

For its part, the opposition has already sharpened his arguments: the government "cares about the wealthy less wealthy, rich or poor, rich or poor," joked the spokesman Benoit Hamon PS. Laurent Fabius (PS) said meanwhile that France was "not in a financial position that allows you to lose 4.5 billion in resources.""In this situation, there is no place for gifts, especially to people who are lucky enough to be the most fortunate," added the member of Seine-Maritime, reacting to remarks made by Baroin .

This indicated that the government recognized two scenarios for the ISF in its tax reform, its transformation from its abolition, and that the two hypotheses also predicted the end of the tax shield.

(With AFP)

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Those who have had water damage, fire, theft or other disaster and had to replace nine of their old refrigerator or other device, sometimes surprises to the Taking. The insurer took into account the age of the property to repay, but the seller, it has charged a new device … Where an unwelcome squeeze on the budget of the insured.

Compensation for goods (household appliances, Hi-fi sound, computer and furniture supply) is damaged because of what insurers call in their jargon, the replacement value (or utility value) of the property to date of loss (art L121-1 of the Insurance Code, available on http://www.legifrance.gouv.fr).This leads in practice to 500 euros for a plasma TV to the qualities and characteristics similar to those stolen, for example, given falling prices, even if it was paid € 800 three years ago.

Age, use and maintenance: Parameters draconian

Given the age, use and maintenance of this TV, a factor of obsolescence or discount is applied by the insurer (or expert): If this ratio is 30% for example, the insurer will pay 350 euros (500 euros – 30%). In other words, to buy a device almost identical, there must be 150 euros in his pocket.Hence the value of the option to retrofit nine "(often integrated into high-end contracts) because with it, since the state is" forgotten "in the example above, the compensation would be 500 euros .

All "values" does not apply short term personal loans…

Interesting but expensive (the fee rises from 10% to 15% on average), this guarantee has limits. First, insurers leveled the age of standard furniture or equipment involved. Do not expect you to pay a high price for your old furniture. It requires that the aircraft is less than 2 years for the most severe options, which significantly reduces the scope-in this case, it is not necessary to subscribe.The contracts most generous guarantee to open the property for less than 10 years.

Second obligation: we must replace the damaged property, within 6 months, otherwise the compensation is often confined to the use value ….

Finally, there is an overall ceiling of movable guarantee: if it is weak, because initially misjudged or not reassessed over time, compensation will obviously not be total disaster important. Finally, note that the franchise "damages" (100 euros to 300 euros or more, depending on the contract) remains the responsibility of the insured in the absence of a third party.

Finally, a word is a word.Please do not confuse "retrofitting nine" and "replacement cost" alternative sometimes proposed, but at which goods are compensated use value plus a factor for obsolescence … 25% maximum!

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In the wake of a meeting of general decline where the CAC 40 dropped below the threshold of 4000 points, the Paris Bourse was hesitant. At the opening, the benchmark index was down 0.10% to 3972.83 points. This morning, the latest statistics released in China have sealed the trend in Asia on stock exchanges. The closing of the day on Wall Street did not show any signs of optimism for this Thursday.

China's gross domestic product (GDP) of China grew faster than expected last quarter of 2010, with an increase of 9.8% annual rate. Over the whole year, Chinese growth was 10.3%. Great concern of the authorities, inflation has moderated somewhat in late with an index of consumer prices up 4.8% in December against 5.1% in November. It reached 3.3% throughout the past year. Slightly more than the 3% target previously set by Beijing.Shortly after these publications, the Asian indices retreated. Inflation, including measures that could be taken to curb worries.

The news is especially rich in statistics. The bond issue will be well attended in Spain. For 0201tats United home resales are known to 14:30 and unemployment claims at 14:30.

The euro continued to grow and can be treated early this morning at 1.348 dollars. The oil is stable, above 91 dollars a barrel.

Accor Featured

As for values, title Accor (-2.09% to 39.02 euros) was heckled, despite the upward revision of its target of operating profit in 2010 after increasing by 11.8% in sales hospitality during the fourth quarter.

According to our information, Dexia (and the Postal Bank should not set up joint venture but will work through the subscription of the first three billion euros of covered bonds issued by the Franco-Belgian bank.

New twist in Renault espionage case (1.13% to 48.78 euros). The third employee was also dismissed complaint. But unlike the two other employees who have turned against Renault, Matthieu Tenenbaum filed a complaint against X.He also refutes having a bank account abroad.

Nuclear-related values will also be at the center of attention following the announcement of the French construction group DCNS naval considering a proposed nuclear submarine reactor small power supply for the islands and isolated regions and some countries development quick payday loan. The EDF group (-0.06%) and Areva (-0.44%) and the Commissariat à l'Energie Atomique (CEA) will participate in the project.A first prototype released in 2016 or 2017.

In addition, Alstom and EDF Energies Nouvelles (balance to 32.76 euros) have signed an exclusive agreement to meet the future bidding on the French construction of offshore wind, they announced Wednesday in a joint statement.

Later publications, the industrial group Alstom (-2.09% to 33.94 euros) on Thursday posted a 10% increase in orders in the first nine months of its fiscal year 2010/2011, to 12.5 billion euros , while its turnover rose 9% to 15.7 billion euros.

In addition, wines and spirits group Remy Cointreau (1.77% to 52.17 euros) achieved a turnover up 18% to 694 million euros over the same period, marked by an acceleration its sales in Asia and some recovery in Europe, according to a statement Thursday.

Kaufman and Broad will publish it and its annual results.

Sanofi-Aventis (-0.39% to 50.56 euros) a second time should extend its takeover offer from Genzyme to allow time to finalize the terms of an agreement that will eventually conclude with the American specialist rare diseases, say experts interviewed by Reuters.

BioMerieux (5.13% to 78.32 euros, the biggest increase DTH) has reported a turnover of organic growth of 4.9% in 2010 and expects an increase in revenues the order of 5 to 6% for the year.

The banking sector remains attentive to the statements of the International Monetary Fund began a series of stress tests on the largest banks in the United Kingdom, Germany and three other European countries at a time when the EU is trying to define terms of its new "stress tests", destined to be tougher than previous ones.

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In 2010, Twitter has experienced a boom. One hundred million people have joined this year the website, which offers to share messages of 140 characters and links with a network of readers (called "subscribers" or "followers"), Twitter has announced this month. This figure, which brings about 160 million users of the site is supported by a study just released by the firm Sysomos. According to this, 44% of Twitter users have joined the platform between January and August. In contrast, only 4.7% of the site were already enrolled before January 2009.

This new influx of users has also resulted in a significant change of use on Twitter, reveals Sysomos.The number of users with over 100 friends in their network, ie user accounts which we receive messages in real time on his Twitter page, has tripled since 2009 and represents 21% of members site. Conversely, the share of those who take less than five accounts was almost halved in a year from 37% to 21%.

Conclusion Sysomos: "Twitter users consume more updates and maybe after more people outside their circle of friends."

A strong EU dimension

This is probably a consequence of the change in the Proposal for Twitter. At its launch in 2006, Twitter asked its members to answer the question "What are you doing?".Now the platform prefers a generic "What's going on?", Inviting its users to share information more interesting than "I eat an apple" and to draw attention to current events like New York or Bombay. The recipe was taken: In September, one of the leaders of the site said: "Twitter is not a social network is a network of information."

But as with any collaborative web platform, a minority of contributors generates the majority of content.

Thus, 22.5% of accounts are responsible for 90% of the activity. Conversely, 80% of members have published fewer than 500 tweets. The most active accounts are automated, that is to say they return flows generated automatically as RSS feed of articles published by a press site. Nevertheless, the community dimension remains paramount on Twitter.According Sysomos, the share of users sharing a brief biography about them rose from 31% in 2009 to 69% in 2010. In addition, 82% of site members share their name on their profile, as against 33% last year. 73% provide information on their geographical location (as against 44% in 2009) and 45% refer to a site (cons 22%).

"It shows that a significantly higher number of Twitter users agree to provide information about themselves, suggesting the growing importance of having a public profile on a leading social networks," Sysomos analysis.

This is also an asset for brands: "The growing share of available data makes it easier for companies to target individuals according to their interests, occupation or location." Good for Twitter, which is now seeking to expand its revenues.