Sundial of world news

Paris Has it been too sure of his strength? There is just one more year, the possibility of relocation was seen as a joke by the City Council. At the point of not meeting the requirements of the French Tennis Federation, eager to expand the site of Roland Garros in order to accommodate the public, partners and media in better conditions, and to demand a fee from astronomical 2016 (the current lease expires in 2015). "There is a Roland Garros. There is no other. It will be more if it leaves Roland Garros Paris. The love story between Roland Garros and tennis is necessarily the Porte d'Auteuil, on the current site (…) I'm really a city tour to the suburbs but frankly what belongs to Paris is Paris.Roland Garros as the Eiffel Tower is part of Paris, has just recently told Jean Vuillermoz, Deputy Mayor of Paris, in charge of sport in a whiff of superiority. Faced with this situation, the TFF has decided to react by putting Paris in competition.

A hotly contested competition
A bluff? Initially judged as such, the call for entries is taken very seriously. Three suburban sites are then selected to host Roland Garros: Versailles, Marne-la-Vallée and Gonesse. The quality of records that are pushing the proposed FFT to seriously consider a move. "Attitudes have indeed changed," admitted the director Roland Garros Gilbert Ysern, whom we asked last November.Under pressure, the Mayor of Paris reacts through Bertrand Delanoe, who tabled a "vow on the development of the Tournament of Roland Garros in Paris" fulfilling all the wishes of the original Federation. Extending the area of 60% (5 hectares), covering the Central, the construction of a new 5,000-seat stadium, a new concession for a period of 99 years and a charge down the figure indexed business.

An eminently strategic
By choosing to stay in Paris, the FFT would be the choice of conservatism. A choice of heart more than reason? So says Hervé Dupont, executive director of the Plaine de France, holder of record of Gonesse."Either the Federation made the strategic choice to remain in Paris for convenience, for fear of change, because it costs him a little cheaper … Either it moves and in this case we believe we have the best project." Leaving the historic site Auteuil would especially at Roland Garros to catch up and even take the lead, on the other Grand Slam tournaments (Wimbledon, U.S. Open and Australian Open) in terms of area (over 30 hectares). Pragmatic, Guy Forget is rather favorable to offshoring.

An opinion that disagrees obviously not John Vuillermoz: "Is that what is important is the space, the number of acres? Does the importance of this tournament is not elsewhere? The goal is to get better. There will be an opening to a new space, a new short 5,000 seats. A lawn will replace the short No. 1, which is not beautiful.This will allow spectators to picnic before a large screen that will broadcast all the matches. This is what will stay at Roland Garros in its box, while remaining accessible to the greatest number. This is not just about square meters. "

Dissension
Unlike Gonesse and Marne-la-Vallee, where the political will to welcome Roland Garros is unanimous, the case of Paris, like that of Versailles, is facing some dissension. "We are a democracy, everyone can express themselves. You say there is no opposition would not be true.Now, democracy is majority and in this context, the Paris council has spoken: 12 councilors voted against and 141 voted for! After the Greens, who voted against the Olympic Games in Paris, which are against the top-level sport in Paris and that the residents of the Porte d'Auteuil want to stay together and not to involve the mass is their problem … But the great mass of the Parisians is favorable. All the polls show, "says Jean Vuillermoz, reminding us that Paris can count on support from the weight, partners and sponsors.

Sponsor support historical
BNP Paribas, whose brand is associated with at Roland Garros for 37 years, is actually very clear about this: "We support the continuation of the tournament in the capital. We believe that much of the prestige is that it is in central Paris.Whatever the qualities of offshoring projects, they would not have the same influence. "Same story from Alain Afflelou:" Roland Garros is a prestigious tournament that counts a lot in terms of public relations device. Currently, it is easy to reach, it will be more complicated than 35 km … "Favorite, File Paris nonetheless threatened. Not sure he collects 66% of votes of the 195 voters of the Federation for its victory on Sunday. He could well find themselves with ballot Versailles (the most dangerous rival?). The two finalists then the tie would be within three months, an absolute majority, at a new General Assembly …

The Paris plan:

With a turnover of 2.35 billion euros in 2010 ($ 3.11 billion), up 22.5%, French JCDecaux has delighted the world leader in outdoor advertising in the U.S. Clear Channel Outdoor (2.8 billion).

Le Figaro. – This world leader is a symbolic?

Jean-Charles Decaux. – This is a milestone in the development of the business created from scratch in 1964 by Jean-Claude Decaux. We are the only media company in the French world leader. Beyond the symbolism, which is involved in the crisis, this leading position is mainly the result of a long strategy. Winning this alchemy is, firstly, our boldness in innovation of products and services on the other hand, the growth in street furniture and transport and, finally, our large exposure in emerging countries.China, for example, become our second largest country in terms of sales worldwide. Our ambition is to achieve 25 to 30% of our business in emerging markets by 2015, against 23% today.

This milestone was also passed through many acquisitions?

After the acquisition of major strategic Futures in 1999, which we displayed in billboards and transportation, the group has made numerous acquisitions in Austria in 2001 and in China from 2005-2006, then in Great Britain Titan and Germany with Wall in 2009 business card. This development, which has led to our position on trades and fast-growing countries, has done while maintaining rigorous financial discipline.JCDecaux is, by far, the group least indebted sector.

JCDecaux does he need to strengthen in certain occupations?

JCDecaux is a world leader, who manages more than 1 million advertising panels in 56 countries, but our market share of less than 13%, a market estimated at more than $ 20 billion. The ability to grow is therefore real. And this, especially since we are worn in the street furniture by the desire to equip cities and local communities. This demand is global and does not slow. Similarly, in transportation, we are led by the vast modernization of trains, subways and buses. And airports benefit from continued growth in passenger numbers worldwide.

The digital he drilled in your job?

The digital represents less than 5% of our entire industry. Three years ago, it did not exist.This, again, an opportunity for growth. After having launched a large-format digital in Britain and Germany, we are working on projects for France as soon as the law allows. The digital messages can sell by time slots, to segment audiences, create events and expand the creative capabilities of our media.

Since February 1, it costs a few cents more for road tolls. On Tuesday, the price of train tickets which undergoes an increase of 2.85%. In both cases, among the reasons given to justify the rate increase include the funding of forty unprofitable rail lines, known as "trains balance of the territory".

These lines, the SNCF is required to serve on behalf of its public service mission, lost each year about 200 million euros to the company. For several years, SNCF is therefore seeking public support for their operations.This has been done since December 2009: the state has pledged an annual compensation of 210 million euros for three ans need a personal loan with bad credit.Un investment that will "sustain a vital public service for the balance of the territory" and "to meet the guidelines of the Grenelle environment," says Thierry Mariani, Secretary of State for Transport.

Offset a structural deficit

"The 210 million will compensate for a structural deficit with the objective of maintaining all these lines," said a spokeswoman for SNCF. This amount will be financed mainly by taxes on the station but also on the motorway companies, via the "Tax Planning".

This could be a consequence of the reform of the taxation of wealth: higher taxes on capital gains realized on the sale of stocks, bonds, mutual funds. That is to say capital gains securities. Millions of French are so concerned, because the famous transfer threshold below which households could escape taxation is removed.

Through 2010, individuals who were making less than 25,830 euros in sales per year paid no tax on capital gains. Suffice to say that the exemption was the rule, most 5 to 6 million small shareholders selling for less than 25,830 euros per year. According to statistics presented by the Bercy parliamentary working group to consider the tax reform, only 153,000 households in 2009 paid a tax on their gain security.Only this small number of households has actually suffered the latest increases in taxes and social charges (the puncture from 29% of a capital gain in 2008 to 31.3% in 2011).

Starting this year, the tax is general, whatever the amount of the transfer. The department wrote himself in his paper presented to the Working Group: Due to this measure, "the number of taxpayers is expected to increase dramatically."

In this context, the temptation of some lawmakers to increase taxes on securities concern. "To finance the tax reform of heritage, it must, among other things, raise the draw in excess of 31.3%, advocates centrist MP Charles de Courson.An option also defended by the UMP Michel Piron that even considering that capital gains are taxed at the tax schedule on income, the marginal rate scale which rises to 41%.

Unfavorable to these solutions, Gilles Carrez, the rapporteur UMP budget to the Assembly, calls him for not coming into force of an advantage to come: "It is anticipated that from 2012, capital gains securities held for six years and older receive a discount of one third each year. This amounts to a total exemption in 2014. Remove this device that destroyed the tax base. "

The horizon darkens

Nothing is decided yet. "But these trial balloons are concerned about our customers. The French fiscal instability is a real problem, "says Cyril Valentin, a lawyer at Freshfields."For the wealthy, the issue of tax exile arises again," adds Sandy Quilici, director of engineering heritage to the bank Pictet. And for good reason. Always according to statistics from Bercy, stocks, bonds and other social rights represent between 67% and 68% of the assets of 100 000 French richest (by income or wealth).

Certainly, there is exemption scheme which does not seem threatened: the leaders selling their shares for SMEs to retire. "But the conditions for benefit are numerous, so this exemption is far from covering all cases. And especially not that of young entrepreneurs, "says Nicolas Leclercq, a tax credit to the North. In short, for most, the horizon may darken.

The complementary health often promise more than cover the higher fees, with rates of care by 200%, 300% or even more attractive rates … but, in practice, sometimes disappointing. Indeed, what will be reimbursed to the patient does not depend solely on reimbursement rates displayed, as we tend to believe, but also the basis for calculating the rate. And then, nothing is simple. Travel to country of Ubu.

How does it work?

For routine care, and supported by the foundations are set for reimbursement of health insurance (BR) or the rates of agreement (TC): 23 euros for example, consulting a specialist in the course care. Here, the rate of repayment of Social Security is 70%: therefore, an insured receives EUR 15.10 *, including excess fees if applicable.

Then the complementary health: a support displayed 100% of the BR (unless otherwise indicated, reimbursement of health insurance is always included), the insured receives 6.90 euros, with 200%, 29, 90 euros * (200% x 23 euros = 46 euros – 15.10 euros *) and so on, knowing that only a contract guaranteeing 300% ad minima of BR or the actual cost (FR) commitments makes in the assumption of a consultation to 50 euros, a full refund. Therefore not easy to decipher contracts unless doing a calculator in hand.

Dentistry the poor relation

For expensive care, things get complicated because the rates of Responsibility (TR) are much lower than the expenditure: EUR 170.50 for example a dental crown, which costs 900 euros on average.

Result: With an additional 100% showing that mysterious liability costs, the patient pays 792.50 Euro!.And even with a 300% advertising contract, which remains dependent remains high: 577.50 euros (considering reimbursement Safely 75.25 euros and that of mutual 247.25 euros.

Hence the value of packages (500 euros, for example) that are added directly to paying social security, provided they are granted by deed and not for a year.

Why make it simple …? For a little more obscure jungle refunds, another method of calculation is sometimes put forward: the refund is then expressed in terms of the HSMP (maximum monthly Social Security or 2946 euros for 2011). Again, beware of disappointments because of the HSMP 5%, still a crown, it is … only € 147.30.

One advice: forget the percentages and have systematically numerical simulations. The only way to get around.

* Minus the deductible 1euro

"Wages, bonuses, working hours … an inventory edifying

"Read report (pdf)

The Court of Auditors is preparing to publish a highly critical report on the Great Sea port of Marseille. In this document, including Le Figaro has obtained a draft, working conditions and remuneration enviable some of its employees and the situation of "social blockage" of the harbor is culprit. The final report will be published on February 8. His revelation comes in the open social conflict: Tuesday evening, the negotiating meeting on the consideration of the hardship in the business of cargo handling between the CGT Union ports and management companies handling nothing given.

Violence without consequences

Drivers of cranes and gantries, key employees of major seaports, under the port reform passed in August 2008, should be transferred to the private sector do not work effectively as 14 hours per week and 12 hours Fos Marseille, given the organization by teams of two drivers for a crane or a gantry, absences and the rule of "finite-party", the report of the Court of Auditors. Their monthly salary is between 3500 and 4500 euros net, including gratuities, still illegally paid by the stevedoring companies despite a call to order of the Court in a previous report. However, only the Italian ports of La Spezia and Genoa are experiencing lower productivity than Marseille.The implementation of the reform should allow "seriously consider organizing handling to restore the GPMM every chance in the competition in terna tional," said the Court.

For, although it recognizes the comparative advantages "undeniable" port of Marseille, positioned on the route between Asia and Europe, and particularly easy to access compared to some competitors, the Commission stated that " except in the cruise, he continues to lose market share m ar payday loan. For judges, "one of the key factors, if not the main, this decline is due to the insufficient reliability of the port, due to a deteriorating social climate, with alternating periods of calm and crisis, often violent, in a context where a union (the CGT, Ed) dominates all others. "And, faced with this situation, judges link "a commitment to reform disintegrating too often, particularly for lack of sufficient determination of the authorities of the State, facing a social crisis and the extreme tension that accompanies" .

The report notes the position of watermark fluid and not always consistent authorities in the bidding of the CGT, which led to an inextricable situation."There are shortages at the port of Marseille that applies to the normal rule of law, where everyone takes his role in the economic and social debate, but where the limits of democratic debate are not crossed," said the judges, who insist conclusion "to the leaders but also guardianship GPMM departmental and local representatives of the state to penalize or punish do, drifts accompanied by violence, including systematic complaining!

In a power struggle often unfavorable, port officials have not always been of the prosecution of violence which would have deserved and have often yielded to the bidding union.

Massive withdrawals. Last year, investors have withdrawn French SICAV and FCP over 57 billion euros, according Europerformance Six Telekurs. Even more than in 2007 and 2008. They have deserted en masse money market funds, whose compensation is almost zero (more than $ 61 billion in withdrawals). They also neglected French equities and the euro area, too turbulent. Funds invested in these markets have suffered more than 6 billion euros in redemptions.

Subscribers have preferred to head to the world. U.S. equity funds, Asian, and especially the "emerging markets" have collected nearly $ 7 billion. In contrast, bond funds are pale, with less than 370 million of net sales. The crisis in the European government bond has discouraged investors.

For management companies, the year 2010 has therefore been difficult.The major networks are most affected by the disenchantment of the French for mutual funds, including money. The amounts they manage have declined on average by 10%. The giant CAAM (Crédit agricile) suffered net withdrawals of more than 8 billion euros. The bleeding has reached nearly 17 billion and 14.6 billion at Natixis, BNP Paribas.

Yet, some societies have managed the feat of winning new customers.With the exception of Swiss Life Insurance and Covea, or sponsors of ETFs (exchange traded funds), they are mostly independent managers, often specialized and reputed for their long-term performance.

These managers will attract investors

Among these happy few, Carmignac Gestion eclipse all his competitors, with more than 16 billion collected last year, mainly through its flagship fund, Carmignac Patrimoine, and its success with European investors. Comgest, specializing in Asia and emerging countries, also makes an excellent year, with over 1.6 billion euros in fresh capital. Lazard Freres Gestion has attracted nearly a billion thanks to the performance of its equity funds, including small values.Financial Exchequer has also recorded several fine collections of its funds in equities, as the young company Mandarine Gestion.

"Institutional investors have restructured their portfolios last year. They abandoned the managers who had disappointed and preferred the managers whose historical performance reassure "said Arnaud Perrier at Rothschild & Cie Gestion. But companies that have been most successful this year are also those who favor Advisors IFAs, which drain the subscriptions of investors. "In November and December, sales made by individuals, notably through IFAs, are clearly divided.And January is excellent, "says Stéphane Toullieux, Chief Financial of the Exchequer.

These subscribers in any case seem knowledgeable, and have set their sights on solid values. Among equity funds French "who collected the most last year, the place of honor belongs to Opportunities Tangerine (Mandarine Gestion) to Agressor (Financial of the Exchequer), UFF Actions France (also managed by the Financial Exchequer) and Dorval manager.

ALSO READ:

"Investors do not want to risk

"Investments: 2010, good year for mutual funds

These mutual funds have gained over 20%

"2010, disappointing year for investments

SERVICE

"Enjoy the best year rate for your savings with Cortal Consors

"Online Brokerage: Compare offers from our partners