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The surprise wedding almost eclipse the first steps in Facebook stock. Mark Zuckerberg, the owner and founder of social network, was married Saturday in privacy in Palo Alto, California, his girlfriend Priscilla Chan long. A happy event was announced by the young entrepreneur and his bride on their respective Facebook profiles. Since then, a question hangs over the Internet across the Atlantic, who do not hesitate to call directly Zuckerberg on his personal page, like Vida Nikpour, a student at San Jose State University: "Congratulations, Mark, j hope you have signed a marriage contract? "Even before the wedding, billionaire Donald Trump – who certainly was not privy to the preparations – had thrown a cat among the pigeons by providing its advice to future triple divorced husband. Guest on CNBC, he held that "with so much money," Mark Zuckerberg should not move the ring finger of Priscilla Chan without signing a marriage contract.

It must be said that only 28, the boss of Facebook is worth gold. With a personal fortune estimated at $ 17.5 billion, was listed 14th among the latest ranking of the 400 largest fortunes in America by Forbes magazine. A fortune that now revolves around the $ 20 billion since last Friday, historic day for Wall Street with the listing of Facebook. "If for any reason, they divorced in a few years, she (Priscilla Chan, ed) may be asked by $ 10 billion in court and it will hit the jackpot," warns Donald Trump. According to the California Family Code, "all property (…) acquired by a married person during marriage (…) fall under the community". They are divided into two in case of divorce, a prenuptial agreement unless other conditions fixed.

Key date of marriage

While Mark Zuckerberg and his family are silent on this subject, experts compare their conjectures. Ray Martin, a financial consultant and columnist at CBS Money Watch, believes that "everyone greatly richer than his spouse or has a skill or talent 'unique' and its cash value should request the establishment of a half marriage contract. " According to some lawyers, quoted by Daily News, Priscilla Chan and could claim a share of the gains made by Facebook share during marriage. For others, however, the date of marriage – which was celebrated the day after the IPO – could seal this thorny issue. Under California law, in effect, the spouses have no rights to the fortune amassed by their spouse before the wedding. "If the wedding date was set so close to the IPO by accident, it's a happy coincidence," says Robert Blevans, lawyers in Napa.

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In France, too, resistance was organized against the tax increases that prepares the new government. But it will come mainly employers' organizations. In the program of Francois Hollande, 20 billion euros of tax increase at least directly related companies. And one of them focuses all the fears of employers' organizations: the removal of the pay scale relief companies paying the levy on the value added (CVAC).

Behind this name hides a barbaric tax simple. When the government of François Fillon has removed the tax in 2010, he replaced it with two lighter taxes levied by local authorities: the territorial economic contribution (CET) and CVAE which is a tax of 1.5% value-added enterprises.

But not to penalize the smaller of them, only companies with annual revenues exceeding 50 million euros are taxed at 1.5%. Below, the rate is declining, according to the volume of business done and the slices are made based on a precise schedule. The proposal of François Hollande to remove the pay scale relief, is to tax the value added of all firms with annual revenues exceeding EUR 500 000 at a single rate of 1.5%.

Concerns

This provision will affect the brunt of SMEs is concerned there be the MEDEF. The expected tax receipts rise, according to simulations, between 3.3 and 3.5 billion euros. Difficult to know in detail what this will mean additional burden for the firms concerned. But according to data from the Directorate General of Public Finance (DGFIP), businesses with annual turnover between 500,000 and 3 million participate to the tune of 1.9 billion to these new recipes. Those between 3 million and 10 million in revenue to contribute € 760 million, mainly because they are smaller.

Against attacks of the employers of this worrying increase in the charges, the team of Francois Hollande, during the campaign, responded by indicating that SMEs would benefit from a reduced rate of corporation tax at 15%. "Except that most SMEs are already at that rate," said an official employer, "and the program of Francois Hollande has never planned to extend this rate down to more companies." …… ..

In short, the new system will penalize SMEs unless, in the parliamentary discussions, the future majority agrees to additional gestures, such as a change in the scope of the current IS reduced to 15%. A first test will show that tax Bercy to support the French industry, in a context of strained public finances.

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Those who want to buy an apartment in Fort Issy-les-Moulineaux, just outside Paris, have an incentive to hurry. Of the 1600 units under construction, only a few dozen have not yet been sold. The first occupants will move in March 2013 in this brand new neighborhood. The end of a very long history. "The first contacts with the Ministry of Defence, owner of the fort, took place in 1997, says Christophe Provot, deputy mayor of Issy-les-Moulineaux, delegate to urban planning. And the sale did not occur until 2010! "

Several causes for these delays in extension. First the different administrations (Ministry of Budget, Ministry of Defence, France Fields …) could not agree on the price of 12 ha. Then, the state and the municipality have long passed the buck who would pay for the removal of 3,000 shells dispatched on that land.

Finally, the state sold the land to the town 60 million, taking charge of the 7.6 million related to site cleanup. The city has invested $ 60 million in additional public facilities (creche, library) and sold the land to developers (Kaufman & Broad, Bouygues …) that offered the highest price.

Result, these apartments are quite expensive: 6500 euros per m² on average. "To have more affordable prices, would have required the State to make efforts and not sell his land at market rate, estimated Loiseleur Raymond, chairman of the SEM (Society of Issy mixed economy. He made another choice. "

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For Jardiland, spring is even more active this year. At the end of the most important commercial of the year, the second network of garden centers by turnover and number of stores (205 and 14 abroad) should welcome a new shareholder. Indeed, Batipart, the investment company of the family Ruggieri, who holds 35% stake in Jardiland, wishes, according to our information, disengage. Charles Ruggieri, who was among the players in the development of FDR and significant shareholder of Korian, has invested 122 million euros.

The Conte family that owns about 65% of it's famous sign is not in a position to buy such participation. Concerned about the future capital of the company, the family that controls the capital, however, commissioned in autumn 2010 Lazard to find a buyer for 35% stake in Batipart even to consider a global sale of the company , according to several sources. When asked, the president of Jardiland confirms the mandate of Lazard, but dismisses any idea of ​​surrender and advance another scenario: "We are seeking capital for our development, especially internationally," says Michel Conte, who hopes to complete Operation "before the end of the first half."

The option Truffaut

Contacts with LBO funds, however, reinforce the idea of ​​a significant operation in the capital. "Last year, twenty funds have shown interest Jardiland, this sleeping beauty. Four are still interested, PAI, Astorg Equistone and Axa Private Equity, "says a close case. The latter held the rope – appointment is made with the management Jardiland for mid-April – but nothing is signed yet.

Interested stumble over two problems: "these funds are all taking majority stakes, but the family would retain control Conte," said a relative of one of the funds short term personal loan. According to our information, the Director General, Guilhem Porcheron, was notably landed last October for trying to demonstrate that the wish of the family was unrealistic.

The other sticking point is the price. "Usually, we value the garden 6-7 times EBITDA (gross operating surplus, Ed), more than the DIY networks. However, in Jardiland, the cost reduction program has not given any results, "said another speaker in the folder. The ebitda of Jardiland fell last year, reaching about 30 million euros for a turnover of 811 million euros. "Jardiland worth about 350 million euros, but the value of the ticket to capital remains to be defined. For funds also, capital is scarce and they are very vigilant, "the source added.

The future of Jardiland is closely followed by all market participants. And especially Truffaut, Louis Delhaize Group subsidiary, which also holds the Cora hypermarkets and supermarkets Match. Reportedly, the sign of the family Bourriez, very present in the Ile-de-France, the file would look again. Truffaut had already considered, two years ago, to buy its rival, to cover the territory. "There is no proposed merger of any order between Truffaut and Jardiland," says one, however Truffaut. Same response in Jardiland. "Doing so much sense, but the family Bourriez only lacks the necessary funds. The sale of Cora in Hungary was partly necessary to repay some debts, "says a close family. Find the ideal candidate for Jardiland seems difficult.

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Lack of agreement with the most powerful Italian unions, the CGIL, Mario Monti will try to push through his reform of the Labour Code, which will facilitate dismissals in Italy.

After presenting the text to moderate unions and employers on Thursday night, the Italian prime minister intends to adopt this proposed reform of the Labour Code to the Council of Ministers, this Friday to vote to do so as quickly by Parliament .

"We will make the text so that it prevents any abuse in dismissals," Mario Monti promised Thursday night. Time is running for President of the Council who plays his all on this eagerly awaited by reforming the markets and the European Central Bank.

The confederation CGIL, which refused to sign the text and left the negotiating table, called a general strike. The Democratic Party stands for the first time Mario Monti and promises to fight. The ruling coalition, without which Mario Monti would be powerless, threatens to explode.

On the form, Monti reform aims to modernize an Italian Labour Code dating from 1970, accused of holding back growth. On the merits, it addresses two major problems in Italy: on one side, layoffs nearly impossible in large companies, the other an increasing precariousness of work, without nets worthy of the name.

To break this duality of the labor market – which is found also in Spain – Mario Monti wants to facilitate layoffs by offering social protection to many workers who are deprived, while facilitating youth employment.

Conventional termination

Socially, unemployment benefits would become universal and will last 12 months – 18 months for seniors – and will reach 1,119 euros per month, more than today cash advance loans. Paternity leave would be introduced in some industries. And a fund to support older unemployed will be created. For Stefano Libman, professor of labor law at Bocconi University of Milan, this reform has the merit of "the basis for social protection for the millions of workers now have access to coverage generalized social."

To help youth employment, the reform provides for the rationalization of the types of contracts. In quarantine, they will be reduced to eight. Learning becomes the model contract and will last three years. "In the short term, with the crisis, it will inevitably lead to layoffs. But ultimately, this will create a stable job, "says Stefano Libman.

Blocks where the reform is on the right of dismissal, framed by Article 18 of the Labour Code, which prohibits dismissal "without just cause." In fact, Article 18 does not block a score of layoffs a year, but in the minds he became the symbol of the rigidity of the Italian labor market. The government insists the review. It plans to introduce a form of "conventional rupture" in the French which allows to separate from an employee by paying compensation of up to 24 months' salary.

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On the eve of the highly anticipated presentation of Indian budget, the finance minister did not hide his concern. The growth of Indian giant is slowing. Up 6.7% over the 2011-2012 fiscal year, GDP growth is at its lowest since 2008, is concerned the Department in its annual economic report, released yesterday. The first sentence of the document shall, in this regard, eloquently: "For the Indian economy, it was a disappointing year in terms of growth," notes the report.

Pranab Mukherjee, Finance Minister, still displays a target double-digit growth over the medium term, but now the account is not there. The usual engine of Indian growth, domestic consumption and exports are down.

This year, the Indian authorities point the finger above the weakness of the trade balance. In fiscal year 2011-2012 (April-December), the deficit exceeds $ 130 billion, against $ 96 billion a year earlier.

This degradation of India's foreign trade partly explains the depreciation of Indian currency, the rupee against the dollar. However, the Government's report points out several reasons for hope. The export markets are diversified. A good thing, while services have suffered cruelly from the European crisis. India, which depends on the Old Continent for 20% of its total exports, should relax its export conditions, the report notes. A beacon of hope for Brussels, while negotiations on a Free Trade Agreement with the EU stumble on such a reluctance to open their Indian service sector.

Conservative

For Gaurav, an economist at a major bank in India, the government report is "a powerful indicator of what has been done" but "it is very conservative at the project level, and new ideas are struggling to implement, as the recently seen for reforms affecting foreign investment in retail, which were abandoned instant credit report. "

The Government welcomes especially the effectiveness of measures taken against runaway inflation affecting the country for several years. In January 2012, higher food amounts to 6.55% while it was close to 9% for ten months. This decline in inflation is not considered sufficient by the strong central bank to ease monetary policy. After raising thirteen times its interest rates between March 2010 and October 2011, the central bank chooses the monetary status quo since December 2011, to the chagrin of the business community.

Thursday, the central bank still has disappointed investors by leaving rates unchanged at 8.5% on the grounds that the "potential risk of inflation had increased due to the recent rise in crude prices, the budget deficit is widening and the depreciation of the rupee. "

The employers immediately expressed his displeasure, saying the decision "against-productive" for the economy. "The industry needs strong signals of relaxation to help the recovery of investments," said the Confederation of Indian Industry. The central bank has promised that "future actions will go towards a rate cut."

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The Swiss are about to bolster their reputation for needy people. They will vote Sunday on whether to increase the minimum paid leave of four to six weeks per year. They should, if one believes an RTS survey released this week, overwhelmingly reject this offer, 30% of respondents only showing himself to be favorable.

In the employers and government, the vote on March 11, organized at the initiative of the union Travail.Suisse, unsurprisingly raises hostility. Swiss companies are concerned that this increase in leisure time would harm the competitiveness of a country where labor costs are already among the highest in the world. With the key, they are in custody, a rising unemployment. At 4.2% in 2010, the unemployment rate Helvetic is currently one of the lowest in the OECD.  

The French model which appears as a perfect example-cons. Since the law on the 35 hours they were "much more free time than the Swiss and it did not bring much," judge the employers' organization economiesuisse. "The unemployment rate is high, the economy has weakened and the French were wearing pale twice as often as the Swiss," says the organization.

The unions, meanwhile, argue that the productivity Swiss jumped 20% in 1992 and 2007, and it's fair that employees derive some benefits. According to them, two weeks extra vacation would also reduce the stress suffered by third asset.

Conquest of paid leave late

Within the Swiss population, the reluctance of employers to amend the social model seems widely shared. "These holidays that prevent work in peace" was the headline in mid-February the daily Le Temps. The RTS survey highlights that the Swiss Latin are more attracted by the proposal that the Swiss allémaniques, over 40% against 30% in the general population. But Le Matin claims that the work is valued highly consensual. And remember that for over half a century, all efforts to shorten the working week were unsuccessful.

The conquest of paid leave was made later in Switzerland than in France. It was not until 1964 has been entered in the 'Code of Obligations "to give the workers a minimum of two weeks paid vacation per year. The right to four weeks will be introduced 20 years later. Even if some collective agreements already provide a framework more favorable than the statutory minimum, "let it be said here, it is not in France, insists Time. 1936, paid holidays decreed by Leon Blum, the hordes of workers blissful hurling on the N7, it's not with us. "

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2011, bad year for the Japanese economy. But less bad than expected. The gross domestic product (GDP) of Japan fell 0.2% in the fourth quarter of last year, bringing the decline in growth throughout the year to -0.7%. The Japanese government initially expected a decline of 0.6% between October and December, which would have increased to 0.9% GDP growth over the twelve months.

Struck by an earthquake and tsunami March 11, 2011 which were 19,000 deaths, Japan saw its number of damaged plants and encountered severe disturbances on its electricity production. At this natural disaster were added the slowdown in global demand, a stronger yen and floods in Thailand where many Japanese companies are based, in particular the automobile.

Today, the Japanese economy remains fragile. The government and the central bank of Japan (BoJ) hope however dig us out of slump with a series of measures introduced to boost consumer spending, business spending on support by providing funding solutions, and contain the surge of the Japanese currency.

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On February 20, during the auction of the hamlet of Courbefy, located 40 km southwest of Limoges, no buyer had appeared, despite a retail price of only 300,000 euros. With the effect of media coverage, between 150 and 200 buyers from around the world are scrambling to try to acquire this highly original property, offered for sale price of a two-room Paris.

Without buyers, the entire village, 19 rustic buildings in various states, the boxes for horses, pool, tennis court, culminating in nearly 557 meters high with a beautiful view of the mountains of Chalus in the Périgord Limousin regional park, should return to Credit Agricole, creditor's last owner who could not repay the loan. Its proposed resort, launched in 2003, has never worked and went bankrupt, causing the abandonment of the site in 2008.

The news of the sale of Courbefy was first taken up by the media in France, before being scattered by the whole world, fascinated by the idea that a whole village could be sold for a price as ridiculous . "Admittedly, this is an offer very original, very unique, because the entire village is sold at once," says Mr. Paul Le Figaro Gérardin, counsel for the Credit Agricole. "It's because someone has bought one by one all the houses after the abandonment of the hamlet."

After being abandoned by its last inhabitants in the 1970s due to rural exodus, the small village of Courbefy might find occupants with a last minute deal last Thursday filed with the court registry by Limoges an American company, AHAE Press, registered in the State of New York. This entity belongs to the Korean-born American photographer Ahae, artist specializing in landscape photography and wildlife, whose exhibition "Through my window" must be presented at the Louvre in Paris from June 26 to July 23.

With its 10% deposit of the purchase price, the sale process is restarted, and new auction will take place at court of Limoges on May 21. "I'm sure will be many bidders," suggests Paul Gérardin me. "We have already responded to 150 to 200 inquiries from around the world. Initial requests are first come from the Paris region, London, Belgium, the Netherlands, Sweden and other European countries before coming the United Arab Emirates, China, U.S. and Russian. "

One potential buyers, a Dutchman, wants to use the hamlet for a reality TV show in which participants would call premises in shape.

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In Frankfurt as in Hollywood, blockbusters at the box office still have a following. With its new Governor Mario Draghi at the wand, the European Central Bank (ECB) had a box in rooms (market) on December 21, proposing to banks in the euro area loans to three years paid at the rate of favorable 1%: some 523 banks had then drew 489 billion euros to the general treasurer. The central bank on Wednesday repeated with a second offer of funding under the same conditions.

As in December, the operation on tap the ECB had passed almost unnoticed, as this new album monopolizes attention. Meanwhile, in effect, operators have discovered the virtues of this infusion of cash, which "played a crucial stabilizing effect on financial markets in the euro area," said the rating agency Fitch.

How? By reversing the downward spiral that led states and banks in the southern countries of Europe towards the precipice. In addition to the invoice Greek tensions on sovereign debt Italy and Spain have indeed weakened the banks of these countries throughout 2011, boomerang-feeding fears about these states, leaving the specter of a rescue banking. The risk that France has to support its banking system has also weighed in the loss of AAA inflicted mid-January by the rating agency Standard & Poor's.

By flooding the banking system liquidity in the medium term, the ECB has caused a twofold benefit: one, the risk of going off the road an Italian or Spanish bank has moved away and two, these institutions are now able to support States by buying their sovereign debt. Hence the almost universal relief: relaxation rates on sovereign debt Italian or Spanish, rising stock markets, banks' resumption of emission payday advance… No wonder investors want more. How many banks ask they this time? Estimates vary between 200 billion and 1000 billion. With the idea that the higher the amount, the higher the markets will appreciate, because these are all new cash should get involved.

Virility contest

This vision reflects the optimism that blows from the beginning of the year. Not long ago, a massive use of banks to the ECB could have been perceived as a sign of weakness. Joseph Ackermann, head of Deutsche Bank, had also launched the controversy earlier this month stating that he had not presented to the Frankfurt office, wanting to avoid wearing the marks of a "subsidy". Mario Draghi had then replied that it was not "a contest of manhood." For his part, Stuart Gulliver, head of the rich British HSBC, said Monday that he had participated in "solidarity with the euro area". This positive attitude could help widen the circle. According to Oddo Asset Management, the euro zone banks must repay 813 billion worth of loans between 2012 and 2013, of which 270 billion solely for the German banks that had shunned the first wave.

Ultimately, the success of the program seems indisputable Draghi markets. This was an essential prerequisite to avoid chaos. The question is how these banks will inject money into the economy.

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