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The meeting between German Chancellor Angela Merkel with British Prime Minister Cameron, far from marking a reconciliation, a deed the differences between the two countries on the edges of Europe. Despite the cordial declarations of the two heads of government, differences on the issue of saving the euro continues. "Germany's interests, Britain has its own," acknowledged David Cameron at the end of the meeting cash advance.

The issues are still there and no solution in sight, the Chancellor conceded. Britain still refuses the idea of ​​a tax on financial transactions, supported by Paris and Berlin, because it severely handicap the City of London. On the issue of greater involvement of the European Central Bank to resolve the crisis of the euro, which promotes London, the German chancellor has proved inflexible.

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If he does not yet see the future with optimism, markets have finally stopped brooding. The CAC 40 who had lined up two sessions in the red on Friday and returned Monday 1.28% Tuesday to finish the session at 3149.26 points.

Other European markets followed the same trend. The London Stock Exchange rose 1.03%, the Frankfurt from 0.55%. The place was awarded Milanese 0.74%. Of the European indices, the STOXX 50 was up 1.37%. On Wall Street, the Dow Jones gained 0.21% in session and the Nasdaq 0.64%.

An hour before the close, Silvio Berlusconi, won a vote to test the Chamber of Deputies with the abstention of the opposition. However, he lost the absolute majority and is thus a little more fragile still.The group reported before trading a net profit, down nearly 31% to 622 million euros, but above expectations fast cash advance. The bank also decided not to distribute a dividend to its shareholders for the year 2011 to strengthen its capital base without recourse to the market and public money. In its wake, other bank stocks also rose as Credit Agricole (0.82% to 5.14 euros) and BNP Paribas (1.79% to 31.32 euros).

Lagardère (-6.19% to 18.49 euros), with sales falling almost 6% in the third quarter, down for the second time in less than three months its earnings forecast for 2011 .

Thales (0.74% to 25.30 euros) confirmed its targets for 2011 and 2012. Sales for the nine months stood at 8.61 billion euros, down 2%. The advocacy group also just to get along with Safran on an asset swap.

Into debt to pay less tax. This is what investors who invest in real estate and not just through type devices Scellier. Subscribe to a credit for investing in property has many advantages: the rent paid by the tenant pays the monthly payments, and loan interest is deductible from property income (not capital). With the key tax savings on income sometimes substantial, especially for taxpayers heavily taxed or (and) who receive more rents. As property income – greater than 15,000 euros gross per year – are taxed at the marginal tax rate of the investor, plus the social charges (CSG + CRDS, 13.5%). To protect his family, the borrower take out a whole life insurance (disability), which will take over in case of hardship, and allow his people to keep well.Credit also allows a way to protect themselves against inflation may accelerate in the coming years. "But beware, the profitability of the investment must exceed the credit rate," said Philippe Baillot, Director of Private Banking Bred. Not to mention that "take a credit equal to a bet on rising prices of stone, failing that, the leverage effect will be negative," says he.

Banks increasingly demanding

Although mortgage rates have been stagnant since June, after rising nearly 1% in one year, individuals always go into debt on attractive terms. It should thus be between 4 and 4.30% on average for a loan of twenty years (excluding insurance) to finance the purchase of a principal residence. And surely a little more to acquire a rental or vacation home.The deal could change and banks subject to significant pressures should increase credit rates. For now, they have tightened the conditions for granting.

Before embarking on the adventure of credit, it is important to calculate its borrowing capacity and identify any risks that may arise: What happens if the tenant does not pay the rent, for example? For it must also be able to reassure the banker, became much more demanding no faxing 1 hour payday loans. To get the best credit, the borrower will then forward its best profile. In arguing in particular that it is more ant grasshopper. Adjustments are sometimes necessary. "Some will just change their lifestyle before seeking a loan," suggests Philip Taboret, CEO of Cafpi. "They all result in consumer credit and other revolving credit.Allowing them to regain some ability to borrow, "he says.

While in 2010, real estate euphoria, some bankers had begun to lend to younger households, up to 110% of the purchase (including notary fees), the capital, possibly important, has again become indispensable. "The amount of the personal contribution makes the difference. A borrower with a significant contribution could lower its borrowing rate of at least 0.10%, "says Herve Hatt, CEO Meilleurtaux.com. More than ever, it is essential to shop around banks or go through a broker to get the best rate. "The spreads are widening between financial institutions. Those who have already achieved their annual targets to increase their loan rates, "says Hervé Hatt.Those who change their domicile bank will accept their wages in the lending institution. "It's part of the negotiation," says Philippe Taboret. And also helps lower the cost of financing. Like the loan insurance. Many institutions also offer credit schemes combining different loan durations (seven, ten, fifteen years old) or variable rates and fixed rates. They can help to reduce rates from 0.10 to 0.15%.

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"The French want to own to get rich

Six months after the end of the disastrous false spy case, the flowchart of Renault is unrecognizable. The large "household" began on April 11, according to the findings of an internal audit of the dysfunctions of the company during this crisis. That day, under government pressure, many players in this fiasco had been removed. Led by Patrick Pelata, number two, since replaced by Carlos Tavares. But also members of the famous security service, the chief executives, Jean-Yves Coudriou, the legal director, Christian Husson, and Secretary General, Laurence Dors.

This is also the same date as the foundation of the current organization had been thrown, with the creation of a Deputy Director of Superpost for president, told Mouna Sepehri, comprising the General Secretariat, and the law.Meanwhile, the Human Resources Directorate was attached to the CEO.

This structure was subsequently refined in late July, after a report by Alain Bauer, Alain Juillet and Eric Delbecque, all three experts on economic security. They advocated to link security to delegate to the presidency and create a structure of security control – inspection – dependent on the CEO.

This reorganization is clearly intended to prevent the excesses of winter – where the direction of Renault had managed the business with an incredible amateur, without resorting to the Central Directorate of Internal Intelligence (DCRI) – can reproduce easy pay day loans.Carlos Ghosn, the CEO, why close all security issues with him, as they were once buried in the depths of the organization, and has mounted a much more professional.

Prevent skidding

Friday, the new recruits were officially presented. Among the main changes, Eric Le Grand, head of security at the Post supports this function at Renault. Jean-Marc Berlioz, former head of the General Inspectorate of the National Police, who was also an adviser to Nicolas Sarkozy and Hortefeux of the Ministry of the Interior, is entrusted with the inspection of the security service. He will report to the CEO, as the direction of internal audit, and that of ethics, whose boss is being recruited.

Communication, finally, was renewed.It is also the responsibility of Mouna Sepehri, who was charged in April to reflect "the lessons of the crisis" in this area. We remember the disastrous intervention of Carlos Ghosn on TF1, saying it was evidence "multiple". The management of this service returns to Florence Goldfiem, a former journalist. She will be responsible for bringing the "serenity" and "pride" to the group, and improve the image of Carlos Ghosn, dented by the crisis. Oil and its relations with the French elites and policies, which have little support, while "helping him to refine his understanding of French culture," says one in-house.

Apart from small stickers indicating the presence of biodiesel in the tanks, nothing distinguishes the A321 Air France reduced in C02 a regular camera. Yet the company wanted to create the event Thursday by the AF6129 flight between Toulouse and Orly the most efficient carbon dioxide emissions.

Lufthansa, KLM and Aeromexico have conducted experiments of this type, but Air France has combined the use of biofuel and all means of reducing its CO2 emissions. This is an operation of "teaching and outreach," according to Bertrand Lebel, Executive Vice President for Sustainable Development of Air France KLM.

To make half as much C02 as a classic flight, Air France has played on several tables. First, it has reduced the weight of the aircraft short-and medium-haul (seats, trolleys, trucks …).Then, the pilot chooses a path optimized and continues without remedy to the rise and descent. A European project, named Cesar, was launched to generalize better traffic management and trajectories. To be deployed in Europe, 20 billion euros will have to be invested in Cesar.

Besides the weight and trajectory, the use of biofuel, supplied by SkyNRG, a subsidiary of KLM, is the major focus of this demonstration. "KLM has the chance to control the whole chain of its refueling, which is not our case," says Bertrand Lebel. Air France executives make no secret of its suppliers of kerosene engines are not in the desire to diversify the sources of fuel. "We have received support from Airbus in Toulouse in order to organize the supply of this unit.In Paris, we could not do that. "Half of the fuel used on this flight is the result of recycling of waste oil. The company chose not to use fuel from agriculture. "We do not want the biokerosene be in competition with food," says Deputy Director General. In addition, Air France will join the CEA to open in the Meuse a biofuel produced through the use of forest waste.

Permits to pollute

Air France is far to consider a generalization of the experience: "The company will not be able to use the best bio-fuels by 2020," says Bertrand Lebel.At this date, biofuel will not represent more than 2 to 4% of airline demand.

Another important measure to reduce CO2 emissions, the use of permits to pollute under a European directive which comes into force is set to January. It will apply to European airlines and companies in the world who will enter the European space. Some fear retaliation. Thus, China Southern is negotiating to bring its A380 between Paris and Shanghai, which would allow its partner Air France KLM to do the same. But if EU legislation is too restrictive, China Southern may prefer to Sydney to Paris.

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The directors of Dexia and states have approved most of the steps needed to dismantle Dexia. Belgium has proposed the purchase to 4 billion euros in Dexia Bank Belgium (DBB), letter of intent attached to the communiqué issued after the board in support. A similar document should also have been initialed on the negotiations with the Deposit and Postal Bank on the financing of local authorities.But according to two sources familiar with the conditions of an agreement between Dexia and Caisse des depots were not met on Monday.

A week ago, however, after an operation of mediation between the parties led by René Ricol, the Deposit and Dexia had agreed on the outlines of the deal: the CDC should buy Dexia Municipal Agency The vehicle refinancing loans from Dexia's long-term form of bonds, for a price estimated at 250 million euros. So business savvy. But the data have changed in the day Saturday, Dexia reassessing its estimate to 380 million.This morning, without targeting specific operation Dexma, Pierre Mariani reaffirmed its determination to defend the interests of the bank and its shareholders.

Another crystallizes the tension between the French public institution and its subsidiary to 20%: the definition of liability guarantees granted by the latter to the former in connection with the operation. Due to insufficient data, the investment committee of the Caisse des depots, while conscious of the urgency has given an advisory opinion but negative on the operation hours of the board of the Franco-Belgian bank.

Simple adventures of a complex negotiation and tense? Recalled to the rescue Saturday night, Rene Ricol has at least reconfirmed the terms of the consensus snatched the previous weekend. The subject should again grow rapidly.We need it to maintain the balance of the scheme to dismantle and symmetry of the actions of both sides of the Franco-Belgian border.

Beijing puts pressure on the euro area. This Saturday, The People's Daily, the official organ of the Communist Party to power in China, called on European countries to act decisively to resolve the debt crisis that hits the old continent. "Europe is at a critical moment in its history. It must show great wisdom, great courage and great determination and take action. If the decision comes too late, some members of the euro area will leave "the daily warns.

Beijing, which was ready in early to invest more in Europe to diversify its three trillion dollars in reserves, could turn back if the situation does not improve quickly. "If Europe continues to dither, the situation can get worse. Foreigners who wish to help will not dare and the euro area will disintegrate.This would be a disaster for Europe and the world, "said the daily.

Nicolas Sarkozy will discuss with Angela Merkel

At the opening of Summer Davos Forum, Chinese Premier Wen Jiabao, however, had expressed his confidence in the euro zone leaders business card design. "China believes that the European economy can bounce back," he explained. Support has already been taken in Greece, Portugal, Spain, and Hungary.

Friday, Nicolas Sarkozy, who met Greek Prime Minister George Papandreou, has again reaffirmed the determination of Paris and Berlin to support the country in which the probable default of most concern global investors. This last debate "in the coming days" with Angela Merkel of the rapid implementation of measures decided on July 21 to stabilize the euro area.For its part, Greece has called an extraordinary cabinet meeting of his government on Sunday.

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"SPECIAL CRISIS: fear of debt

After a third round of chained up on Thursday, the CAC 40 is hesitant. In this Friday called "the four witches' mature futures in the U.S., which always increases volatility.

After opening up 1.21%, the benchmark index of the Paris Bourse is pressed into the red in the morning before showing a slight increase of 0.54% to 3062.14 points. Sign that markets are not completely reassured by the decision of the central bankers of the richest countries to mobilize to prevent the drying up of banks' liquidity in dollars. "There is no particular news. The market is perhaps a little profit after rising in recent days, "says Dov Adjedj, vendor shares at Aurel BGC.

In turn, other European financial centers are currently in the green: the Footsie-100 from the London Stock Exchange rose 0.84% ​​to 5382.27 points, the Dax in Frankfurt in 5570 to 1.14% , 82 points, but the Madrid Ibex-35 yields 0.17% at 8323.7 points while the FTSE Milan Mib rose 0.82% to 14,763.22 points.

Thursday night, the European Central Bank (ECB), the U.S. Federal Reserve, the Bank of England, Swiss National Bank and the Bank of Japan reopened their facilities dollar loans to European institutions to three months, at their request . The decision was hailed by leading international institutions including the IMF, through its President Christine Lagarde: "This is a clear indication from the two largest euro area members of a economic point of view that Future of Greece is truly in the euro area.This appears to be strongly rooted in them both, "she said Thursday, referring to the Franco-German tandem. The same applies to the ECB: "We are all very closely 'united in one purpose,'" said Thursday Jean-Claude Trichet, president of the ECB.

A meeting of finance ministers in Poland

Still, brokers are concerned that this improvement was not part of the time. "The coordinated central bank takes the market on Friday," noted Toshiyuki Kanayama, broker at Monex, quoted by Dow Jones Newswires. But this does not solve the problem of the euro area should have a temporary effect. "And for him to echo, the Austrian Minister of Finance, Maria Fekter, has not ruled on Friday that a failure of Greece is a better alternative to a bailout too expensive."We should consider this alternative," she started.

Suddenly, all eyes have turned to Wroclaw in Poland, where there is a meeting of EU finance ministers on Greece. It should last two days and overcome the remaining obstacles to the implementation of the second aid plan in Athens decided July 21 to avoid a bankruptcy of the country. Note that Timothy Geithneir, the U.S. Treasury Secretary, will attend the round table. Two press conferences are scheduled this Friday at 24:00 and 17:30.

On the foreign exchange market, the euro bought 1.3798 dollars, down 0.61%. Similarly, oil prices down slightly popped, a barrel of "light sweet crude" earned 5 cents to 89.33 dollars."This liquidity will likely prevent the recession to hit the euro area, supporting crude oil prices," said Victoire Shum, an analyst at Purvin and Gertz in Singapore.

On the macroeconomic front, the euro area recorded an external trade surplus 4.3 billion euros in July against 4.7 billion a year earlier, according to first estimates released Friday by the EU statistics office Eurostat .

In France, business start-ups in France rebounded in August after two months of decline. A total of 41,697 companies were created last month, according to Insee, a figure up 7.5% from July, which was the worst month for a year and a half.

In Germany, German Chancellor Angela Merkel said today that German GDP growth would be "closer to 3% than 2.5%" this year.This statement comes as concerns about the impact of cooling of the global economy on the German economy, heavily dependent on exports, are more vivid.

United States, the net capital flows and the index of consumer confidence from the University of Michigan will be published early in the afternoon.

Values ​​to follow

Banking

After the decision by central banks to help European banks, the banks were moving in a disorganized mid-session: Societe Generale (2.40% to 18.77 euros), Credit Agricole (-0.05% to 5 , 52 euros) and BNP Paribas (-1.61% to 30.01 euros)

Air France-KLM (1.39% to 6.14 euros) and EADS (-0.88 to 22.06 euros)

The manufacturer will control 50 devices equally between European manufacturers Airbus and Boeing, for a total of $ 11.3 billion (8.1 billion euros) to ensure the renewal of its fleet, say Les Echos to be published Friday.

Hermes (-7.10% to 249.25 euros)

Resumption of trading on Friday for the title of the luxury group, which was suspended the day pending the decision of the Court of Appeal in Paris on speculation about the fate of its capital due to a possible takeover bid by LVMH.

Areva (-1.62% to 20.66 euros)

The group has suspended two months for the production of two French factories processing of uranium due to the decline in demand for nuclear power plants in Japan after the disaster in Fukushima, officials said Thursday from the French nuclear group.

EDF (3.34% to 21.33 euros)

Group and Electrical Delmi A2A and its majority shareholder, who jointly control Edison, announced the extension of their shareholder agreement until October 31 at number two in the Italian electricity.

While the price war is raging in the mobile, the controversy swells at the end of unlimited Internet packages, the operators challenge the tender on licensing 4G, Eric Besson, Minister of Industry, responds to Figaro on all issues and criticizing the socialist project on digital.

LE FIGARO. – The bidding on licenses 4G is attacked. Will you give up?

Eric Besson. – The State Council will vote Wednesday. Expect. But thanks to this call for nominations, France will be part of the forefront of the mobile broadband Internet. The government is selling rare frequency of the highest quality, which all countries say they are strategic. We do this with the twin goals of coverage and stimulating competition, the benefit of consumers. Traders feared that a monopoly or duopoly is not recreated.But this call for applications is the first to include criteria as pro-competitive: the creation of four lots so that all current operators can expect to find their place, creating a criterion favoring offers to host virtual operators. We have gone as far as possible to encourage competition. But we also need strong operators, able to achieve very significant investment for years to come, both for the deployment of mobile broadband as that of the optical fiber.

How will you deal with interference of DTT by 4G?

As has always been the case in all countries of the world, a trader who buys frequencies is liable for any interference that they can generate. We assess that risk to less than 2% of households.To facilitate the processing of any such interference, the government will establish a single telephone number, with a small call center, so that individuals can report any such interference on their TV and get the linkage with operator responsible. This device will be funded by all operators at a rate of 2 million euros per year for five years.

You advocate for changing the standard of TNT. Chains bonus going to be frozen, and consumers will they have to buy a TV?

I am not campaigning for anything, and there will be no change in standard of TNT in the coming years. The French continue to receive 19 free channels and 10 pay channels of TNT, with no changes.What we're talking about is the next step, and new services to be launched in the coming years: new TV channels, personal mobile TV, 3D TV … The question is whether these new services will use the older DVB-T or the new DVB-T2 which allows to get 70% extra services. Chains on bonus, not the government that calls into question, but the European Commission, which initiated proceedings bad credit payday advance. It would be irresponsible to issue permits for them to be canceled two years later, and that the state is then ordered to pay $ 800 million to 1 billion euros in compensation.Let the president of the CSA put its proposal and the prime minister officiate.

Packages Unlimited Internet at home are at risk?

The unlimited plans are at the heart of the development of the digital economy and are not threatened, quite the contrary. New unlimited call plans appear almost every week. Some operators have started to consider to better segment their offer, which does by no means the end of the unlimited. With the development of very high speed, there will be even more unlimited in the months and years to come.

How do you protect consumers?

We have set up with the social tariff Frédéric Lefebvre mobile phone, which allows 40 minutes to communicate and send 40 SMS for less than 10 euros per month.We will implement in the coming days the social tariff of the Internet, or 20 euros per month for telephone and broadband Internet, plus 3 euros per month for a box. We will sign an initial agreement on September 13. The order that I issued on August 26 also includes important measures as the establishment of an impartial mediator to each operator, the requirement to obtain consent from consumers for the automatic sending of commercial messages or for the establishment of witnesses navigation.

What are the issues you organize inter-ministerial seminar on October 21?

This is progress in the implementation of the declaration of Deauville.Networks (both funding and security), protection of personal data and the fight against the digital divide will be on the agenda.

What do you think of socialist proposals on digital?

The project of the PS is archaic. It is based on a tax Internet access, known as "socially progressive". Internet access will be paid based on their income! The PS also wants to abolish Hadopi and create a global license. This proposal has been accepted anywhere in the world. This would be the end of copyright in the land of the cultural exception! The PS also provides for the creation of a single public operator for the deployment of high-speed fixed and mobile. He still has not understood that the introduction of competition was the key factor in broadband deployment and growth of the digital economy.

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In recent weeks, a new generation of vending machines first appeared in Paris. Located near the Parc des Buttes-Chaumont, the machine offers, 24 and 24 hours seven days a week, fresh bread, sold a euro baguette. One hundred and twenty rods craft, pre-cooked for ten minutes, are placed for maximum seventy-two hours in the refrigerated dispenser. The end of the cooking is done at the pace of demand for ten more minutes. They can then be kept for more than five hours, to ensure consumers of warm bread.

The origin of this world first, as original as vending machines swimwear and sunglasses located at the entrance to the pools, is Jean-Louis Hecht.The baker was able to marry fifties vending, mainly industrial and bakery.

"Small steps slowly"

It all began in 2001 when the contractor completed the first prototype of its distributor, together with a technical school in Moselle. He suggested "small steps small steps" toward a machine patented by the company and assembly of industrial equipment Mecondielle Portuguese. The investment is huge for this baker without the cost of the assembly, the machine comes already at 30,000 euros. Then you would need two hundred and fifty hours of assembly.

The machine, the first of which is in commercial service since January in Moselle, in the other bakery owned by Jean-Louis Hecht, naturally allows to inflate sales, thanks to its opening hours."It is also a strong vehicle for promoting that is not gray at the bakery, says Jean-Louis Hecht no fax needed payday loans. On the contrary, this innovation is a service that complements the baker's trade but do not replace. "

He said it will become indispensable in France and abroad, because of the quality of the product offered and the economic viability extraordinary profits are 30% higher than the store, according to the contractor.

A solution for villages without trade

In Paris, the distributor already sells 80 sticks a day, and Jean-Louis Hecht look forward to go further. The entrepreneur wants to "make the most of" his idea and does not sell his patent. He thinks big and would like to extend it by buying several bakeries and industrial equipment, backed by the facade.

The baker has other ambitions for his vending machine.A consulting firm located in Portugal working on a version independent of any trade, which would be installed in remote locations such as villages, tourist resorts or passage.

With the unmistakable design of his machine, Jean-Louis Hecht even considering creating a string, which spread in the desert regions of all trade, to allow each person to have its traditional fresh baguette every day. He finally claims that his invention has international potential, in Europe or the United States, where consumers are fond of "French baguette."

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