The Nikkei, less than an hour from the close of the Tokyo Stock Exchange, fell sharply from 0.82% to 9224.94 points.

Eurogroup meeting on tax credit

On the macroeconomic front, the day will be especially marked by the meeting of EU finance ministers in Brussels to discuss the establishment of a tax on stock trades and discuss financial supervision in Europe.

On the currency markets, the euro back to a high of three weeks against the dollar, pulled down by renewed concerns about the European banking sector.At about 8:00 the single currency worth 1.2801 dollars (-0.57%).

On the side of companies, two new publications interim results are scheduled before the opening of trading on Tuesday: Medica and Inter Parfums.

In addition to cyclical stocks traidtionnels – banking and automobiles – investors will closely monitor the behavior of steelmakers after the announcement of the recovery plan of 50 billion dollars of Barack Obama and rising steel prices. Chinese steelmakers show increases of about 4% to 5%.

Peugeot unveiled the price of its electric car: it will cost about 30,000 euros. According to Japanese newspaper Nikkei, the group will produce an electric vehicle in 2012 in Vigo, Spain, with its partner Nippon Mitsubishi.

Deutsche Bank announced Monday it is mounted to the capital of France Telecom at 5%.This raises concerns of a particular union, which fears that it is harbinger of a merger with Deutsche Telekom.

The laboratory specializes in homeopathy, Boiron, whose share price was suspended on Monday, announced this evening have succeeded with the Court of Appeal of Versailles in a tax record.

After a half year marked by declining performance, Audika, the specialist distributor of hearing aids, said he adapted his communication campaigns to bring back into its stores seniors stung by a gloomy economic climate.

Vinci has won a contract worth 264 million euros for an underground parking and landscaped grounds in Qatar.

Bernard Spitz. – Insurers are aware of the state of public finances and ready to participate in the effort. But the "planer" has been heavy handed. These measures are excessively severe: according to our calculations, they could not represent three billion euros, but up to 4.7 billion. Of the 10 billion effort on the niches sought at all, is asking a lot insurers and policyholders. And it is inconsistent with the objective of the economy and employment. Indeed, money from life insurance does not sleep. It is invested in long-term 54% companies in the form of shares or bonds.And the rest financed mainly sovereign debt.

But you knew that the tax shelters were the target of government …

Life insurance is not a niche tax! It is easy to label and all the products that we want to address. In the case of life insurance is particularly unjustified. She has a specific tax regime, as all savings products, which is the logical counterpart of an investment horizon longer term. Life insurance is not a niche, is the principal residence of the French investment!

What action is the worst?

All the measures presented have a strong impact. But the truth regarding the tax on capital reserves would undermine the solvency of insurers at a time when the sector must adapt to turmoil with Prudential Solvency II.It is indeed a drain 1.6 billion on capital of insurers can only affect their competitiveness in terms of solvency. We did not ask the French swimmers to compete in the European Championships with a sack weighted with stones … Do not ask the insurers!

Regarding life insurance, it is not a levy increase. The contract holders will pay just multichannel CSG and CRDS earlier on their compartment euro …

Exactly. However, this measure presents legal problems. The MPT contract, even if it has a compartment in euros and another in units of account, is everything. The product from its compartment euro is assumed that during the settlement of the contract. It will then reimburse the insured the overflow of CSG and CRDS eventually paid.Also, this would mean a very heavy management for insurance companies.

Baroin believes that insurers and mutuals have the ability to not pass on, the new tax agreements supplemental health officials. What do you think?

I fear that this is not so simple. The competition will be between companies, but the tax will necessarily be passed on to policyholders. Is mechanical. The Unocam, which brings together professionals in the supplemental health insurance, had proposed a plan of 3 billion euros in savings on health spending. These are structural reforms of this kind should be put in place rather than increasing taxes.

What do you do to limit the impact of these measures?

We look first to know the exact content of the texts.Then we will make proposals to the government as the national representatives in a positive way. If appropriate regulations improve the competitive environment of our businesses in France and Europe, this will be the best guarantee for tax revenues.

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• Budget: tough decisions on niches
• Pensions: outline of the reform should remain
• Towards the compulsory insurance underwriting loss of autonomy
• The delicate capital increase
• 2011 upturn expected for the job
• Paris wants to reform the international monetary system

Of the four returnees that Nicolas Sarkozy has had to manage since his election, now is probably the trickiest. Very politically charged, the fall will also heavy economically. Number of reforms and sensitive issues facing the head of state and government who begin their Wednesday Cabinet reentry in a tense social climate.

Contrary to tradition, the vote of the Finance Bill 2011 will not be the first meeting of the economic return.It will be preceded by consideration of the Assembly, from September 7, the pension reform. The fiercely contested between a Labour Minister, Eric Woerth, weakened by the controversies that have continued over the summer, and an opposition determined to block any progress, including the extension to 62 years of retirement age.

But the pressure in this landmark case – the Head of State intends to establish his image as a reformer, especially with financial markets – especially coming from the street. Unions, braced against a reform they consider "unfair and ineffective", the French call en masse to protest on September 7. A mobilization that looks very well attended, in the street, transport and some public services where strikes were not hard to exclude. This day of action will not be the last.Meeting Monday at FSU, the unions agreed to see the 8 "decide how to proceed quickly, probably before September 29, when a euromanifestation against the austerity policies.

Behind the social issues lies the question of growth. For despite the increase of 0.6% of GDP in the second quarter, the horizon remains uncertain. And the downward revision of 0.5 percentage points of growth for 2011, together with further cuts in public spending and tax loopholes, reflects these uncertainties. "France has suffered a negative shock with its strong and deep recession of 2008 and 2009, says Philippe Waechter, director of economic research at Natexis Asset Management. A policy is too restrictive in order to quickly rebalance public finances will penalize the economy. "The paradox of this situation is summarized by the rating agency Moody's.This concern, last week, the deteriorating situation of public finances States rated "AAA", inviting them to structural reforms to rebalance their accounts. On Monday, the same agency cautioned, however, put the European states against a too rigorous, which could negatively affect their growth and influence their debt. In short, the government must practice strict management of public finances without too strict. A delicate balancing act …

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Budget: tough decisions on niches

In the rest of Europe, the mood is the same. The DAX index of the Frankfurt Stock Exchange opened up 0.39% to 6215.23 points while in London, the FTSE index gained 0.31% to 5287.28 points.

The markets are reassured about the pace of global economic recovery by the strong quarterly results from major U.S. companies. Monday, Alcoa sent a positive signal, captured well by Wall Street, which signed its sixth consecutive session.Then, Tuesday evening after the stock market, Intel announced it had completed the performance in its history with net earnings in the second quarter of 2.887 billion dollars, far above the consensus.

The reassuring news overshadowed the announcement by Moody's from a severe degradation of the note in Portuguese debt. Similarly, they overshadow the low morale of German investors, illustrated by a Zew index at its lowest since April.

Side indicators on Wednesday, investors will keep a close eye on the industrial production figures for the euro area over the months of May and the index of consumer prices in June, savings account payday loans.The United States will publish details of their sales and their weekly oil inventories.

Note that in the good mood, the euro remains above 1.27 dollar, euro 1.2703 per dollar, more precisely. The greenback lost some of its appeal as a safe haven after this encouraging start to the season results in the United States.

The technology sector at the party

From the corporate side, the day will be very quiet on July 14, national holiday. No publication or any announcement are expected.

As in Asia, the technology sector benefited from the announcement of Intel. Alcatel-Lucent (+1.37% to 2.22 euros), STMicroelectronics (2.85% to EUR 6n95) or Soitec (4.31% to 8.60 euros) grew significantly.

Requiring further attention, the reaction of France Telecom, while the group general manager, Stéphane Richard, acknowledged Tuesday for the first time the suicide of an employee as an occupational accident. The securities lost 0.07% to 15.13 euros.

After his good start in stock, Carmat still trying to attract investors and does this mean securities earning 1.72% to 22.48 euros.

Investors Parisian try to turn the page of a session that saw ACC closer Monday to its lowest level this year at 3332 points (-0.48%). Half an hour of opening, the CAC 40 index future rises from 0.39% to 3348.50 points.

These days, markets are not reassured by the mixed indicators published last week, the United States as in the euro area. Doubts over the speed of the global economic recovery weigh more on the morale of the market.In Europe, these fears result in volatility of the euro against other currencies, after falling throughout the morning against the dollar, the euro regains 0.31% to 1.2544 dollars around 7.35.

On Tuesday, the markets await the opening of Wall Street may choose to pursue. U.S. markets open again after an extended weekend related to the national holiday. The meeting will begin with the analysis of the PMI services which will be published shortly after the opening. Apart from this indicator, no other major news is expected.

Air France wants to save

As for values to follow, Air France (Air France-KLM), which showed a record loss last year, plans to cut 4109 jobs over the period 2010-2012 to meet the air transport crisis .

Areva should always be led by Anne Lauvergeon.According to sources close to the matter quoted by Agence France Presse, Nicolas Sarkozy has decided to maintain the group's boss at his post until the end of his mandate. Rumors had often reported the contrary.

Also in the nuclear site EPR Flamanville, led by EDF also suffer delays. An audit suggests a period of 24 months. EDF expected to make the announcement soon.

Lastly, investors would still react to the publication by Stephane Richard of France Telecom's strategic plan for five years. The operator also wishes to reach 300 million customers around the world to this date and hire 10,000 people by 2012.

Many hedge funds were originally installed in the Cayman because it was one of the few countries to allow the managers the freedom of action they need. "But since then other countries like Ireland and Luxembourg have changed their laws and created vehicles that hedge funds can use.All hedge funds that we have been created recently in Luxembourg, "said Laurent Dupeyron, CEO of Olympia.

Many managers even go further and create ordinary mutual funds, subject to the same European regulations (UCIT III) than any ordinary fund. Management is a hedge fund, but not the status. This boosted some professionals. "In these funds, subscribers must be able to leave their money every fortnight. If the markets undergo a new liquidity crisis, it would be very difficult to achieve for managers, "says Emmanuel Boussard Boussard & Gavaudan president. But hedge funds have no choice. Investors are jostling as they used to invest their capital home."Today, especially in private banks, customers are interested in hedge fund performance, but want liquid funds and regulated," says one Axa IM. And as for hedge funds, the customer is king.

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• The legal age of retirement is raised to 62 years: "It is the heart of our reform," said Eric Woerth Wednesday morning.Between 62 and 63 years, Nicolas Sarkozy has finally opted for the less radical change. But the pace of transition to the statutory retirement age will, however, at a pace faster than initially expected: four months per year from 1 July 2011, not three. In practice, people born in 1950 will be the last to be able to retire at age 60. Those born in 1951 will work up to 60 years and four months, those born in 1952 to 60 years and eight months, and so on until the generation born in 1956, for which the statutory retirement age to retirement will be set at 62 years. This implies that the reform will be implemented for everyone in 2018, not 2020. Meanwhile, the age of retirement which can reach a full pension will be increased from 65 to 67 years.A position that is both "reasonable and effective" given the increased life expectancy, argued Eric Woerth. Despite the reform, are on average three years longer to be passed in retirement because of life expectancy, he said. "If the contribution period should remain the only leverage new revenue, it would have to grow up to 47 years to get the same result.

• The contribution period will increase to 41 years and a quarter in 2013 and 41.5 years in 2020.

• The high income and capital income into play: as promised in mid-May by Nicolas Sarkozy, the easier will help shore up the unfunded pension system.

The tax households located in the top of the scale of tax on income will be taxed at 41% instead of 40%, in the name of a "solidarity contribution pension.342,000 tax households, or 1% of the population reporting more than 69,783 euros per share will be affected by this measure, which will not be included in the tax shield.

The capital income will be affected, in the form of a one point increase levies on sales and real estate. The tax credit on dividends received by shareholders should be deleted. The employer contribution will go on stock options on its side of 10-14%, saving 70 million euros, and the employee contribution from 2.5% to 8% payday loan online.

The beneficiaries of pensions hats will also implement a social contribution of 14%, which should bring 110 million euros.

In total, these measures will generate 3.7 billion in revenue.

• The hardship is taken into account: "The reform opens a new right," assured Eric Woerth. "60 years of age will retire worn by employees working." People whose health was damaged because of their working conditions (undergoing disability equal to or greater than 20% of the rent bénécifiant rofessional disease) may indeed leave at 60 with a retreat rate full, whatever their number of quarters. This year 10,000 people are expected to benefit from this new law.

Those who started working before age 18 may also retire between 58 and 60, in the condition that the statutory period of assessment over two years. In total, "over 60,000 people per year will not be affected by a departure at age 62, an unprecedented effort in Europe," argued Eric Woerth.

• The pension scheme of officials close to that of private, for estimated revenue of 4.4 billion. Officials will not be saved by postponing the statutory retirement age. The active groups (police, military …), which currently start at 50 or 55 years, will gradually raised the limit of two years. In contrast, employees of the special arrangements will be concerned that from 1 January 2017.The pension contribution rate on wages of employees, currently 7.85%, will also also gradually increased to match the term of private fixed at 10.55%. The calculation of pensions will instead retain the last six months, unlike the private sector.

• Promote the employment of older workers: "From 60 years, the participation rate of French is the lowest in Europe," lamented Eric Woerth. "The postponement of the age will increase the rate of mechanical activity." In order, however, the influx of seniors in the labor market does not result in an influx of additional unemployed, the Minister of Labour announced on Wednesday "an employment subsidy a year for the unemployed over 55.The development of mentoring remains another lever that the government wishes to promote.

• Improving women's pensions, farmers and unemployed: For maternity leave does further lower the mothers' pensions, the daily allowance paid during maternity leave will now be included in the earnings base for calculating pension. For farmers, the rules of the minimum pension will be reviewed, so that those who have contributed little to the minimum pension of 709 euros. As for the unemployed not receiving benefits, the number of terms validated by solidarity in order to prepare for retirement will now 4 to 6.

"Look at the presentation of the reform by Eric Woerth:

]]> http://article-submiter.com/the-statutory-retirement-age-raised-to-62/feed/ 0 http://article-submiter.com/the-price-of-the-stamp-will-increase-to-0-58-euro/ http://article-submiter.com/the-price-of-the-stamp-will-increase-to-0-58-euro/#comments Sat, 15 May 2010 15:59:57 +0000 admin http://article-submiter.com/the-price-of-the-stamp-will-increase-to-0-58-euro/ From 1 July 2010 will require some additional documents to send a letter. The price of the stamp of the priority letter weighing less than 20 grams will increase from 0.56 to 0.58 euro, an increase of 3.5%. The economic costs will also increase by two cents to 0.53 euros.

This is the sixth increase in eight years. The price of the stamp for a letter of less than 20 grams had already earned a penny last year. But Post said she "is in the average tariffs in Europe even though the universal service commitments of the post office and geographic constraints are higher in France" instant payday loan.

"The rising price of stamps will have a minimal impact on the household budget, or approximately 0.10 ? per month per household," the statement said.In addition, The Post said they considered the economic situation by adjusting charges for companies depending on their situation: there will be no change for major mailers and the increase will be 0.6% Small and medium enterprises.

Total revenues for the group led by Beno?t Potier amounted to 3.152 billion euros against 2.997 billion over the same period of 2009. An increase of 5.2%. The company listed on the CAC 40 was that the increase of its activity has occurred in all business sectors and in all geographic areas.The emerging areas, however, contributed to the improvement.

"Unless a major turnaround in the economy, Air Liquide in 2010 is a new growth in net profit in the continuity of its historical performance," said the CEO, which states that "the discipline in terms of cost management and cash (…) has been maintained during the first quarter of 2010 and the ratio of operating margin was slightly higher than the average for the year 2009."

Emerging markets drive our business

Gas & Services activity (2.76 billion euros, 8.3%) is indeed characterized by "a marked contrast between mature economies (+5% compared to Q1 2009) and emerging economies (28 %), while activity Industrial merchant finds the path of growth, although sales in the mature economies still lower than the first quarter of 2008 before the crisis easy payday loans.

Large Industries recorded a rebound in activity, particularly through the start and ramp-ups in China, South America and the United States. The electronics is experiencing a rebound, supported by sales of specialty gases.Finally, health remains strong, always worn by home care.

During the first quarter, Air Liquide welcomes the signing of three new contracts with steelmakers in China, construction of new production capacity of liquefied gas to India and starting five manufacturing facilities in emerging economies.

The group also continued its acquisition strategy in health.

Air Liquide outperforms

Since the beginning of the year, Air Liquide shares rose 6.43%, with a gain of 0.31% on Friday, listing at 88.37 euros. The CAC 40, it has seen its course take only 0.38% since January 1, 2010.

If in 2009, they were virtually stable operating margin of Air Liquide rose to a record level of 16.3%.Air Liquide profits rose an average of about 8% per annum over the last twenty years.

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