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It is an open secret. Bercy is seriously considering reducing the tax benefits for 2012 related Scellier.

So far, it was expected that next year, the buyer of a property to rent commitment over nine years has a tax reduction equal to 18% of the value of the property. This would already be less favorable than this year, where the tax reduction amounts to 22%. And still less in 2010, when she was 25%. But in times of fiscal restraint, the Budget Ministry believes that this tax shelter is too expensive and would like to reduce again. For now, nothing is fixed about the contours of this consolidation. Trade-offs are expected in late August.

But this project is already causing an outcry on the part of developers."During the first quarter, with sales support Scellier decreased by 35%, mainly because of lower tax benefit, argues Marc Pigeon, president of the REIT (real estate developers Federation). If an additional movement of the plane Scellier is made in 2012, we may descend to 80 000 new home sales next year, against 115,000 in 2010. "

"Any reform which will reduce the tax benefits will reduce the market," says echoing Bertière Francis, CEO of Bouygues Immobilier. A real threat when the housing shortage is still going strong. And the real danger that prices will rise again, even in the older building, due to insufficient supply.

A cost of 3.6 billion euros last year

Another argument for professionals: reducing the Scellier, the government will lower savings than they expect facially."It will be much less VAT, besides the loss of sales will raise unemployment in the construction," said Marc Pigeon.

Proponents also believe that substantial savings have already been made. "Last year, 60,000 homes were sold with this law, which represents a commitment by the State to the tune of 3.6 billion euros, says Guy Nafilyan, CEO of Kaufman & Broad France. This year, the profession is just to sell some 40 000, a limited spending to $ 2.4 billion. Finally, in a time when the contours of the new scheme are still under study, proponents navigate view. "Unaware of the tax benefits for 2012, we are very careful when buying land," illustrates Alain Dinin, Nexity CEO.

Remains an even more fundamental question. The Scellier is supposed to expire December 31, 2012.Aware that such a decision would be dramatic for the construction sector, members of the Finance Committee are working on a replacement device. "The goal is to lower the cost to the state, so that it is more than about 1.2 billion. However, the tax cut should be at least 15% incentive to stay, "said Gilles Carrez, UMP general rapporteur of the commission. MPs want the measure to be passed this autumn, under Budget 2012, "to give time to prepare for the sector," said Francis Scellier, UMP housing specialist, who gave his name to famous device. For once, developers find there is nothing wrong.

They are the must of French hospitality. Starting this Thursday, they will formally be part of the club of "palaces"! The board responsible for establishing the first official list of hotels embody "excellence in the French" offialisera mileu in its selection of the day.

The challenge is to distinguish among institutions except the 130 5-star hotels that already exist. Fourteen candidates have filed for candidacy. But according to a source familiar with the matter, not everyone will be withheld. In the capital, Bristol, George V, Meurice, Plaza-Athenee, Ritz and Park Hyatt would be in the running. In the provinces, the Negresco in Nice, and Cheval Blanc in Courchevel Cranberries, and the Hotel du Palais in Biarritz, have also postulated.

Conversely, some very prestigious hotels have chosen to duck the first round due to work, like the Eden Roc in Antibes.5 stars like the Fouquet's in Paris did not submit a dossier explaining that appear as a palace might scare away business customers. The Crillon, which has just been sold by the U.S. investment fund Starwood Capital, has not applied, since it requires a heavy renovation.

As newcomers to Paris, starting with the Shangri-La and the Royal Monceau Mandarin Oriental pending this year and the Peninsula in 2012, they did not have access to the competition, requiring more eligibility conditons of … 30 months old.

Applicants under the palace had until December to apply.Have completed two phases of instruction, one led by France Trump to see if they met the "objective" criteria such as size of room, activity for 24 months minimum in case of complete refurbishment of the facility, 30 in case opening, multilingual staff, spa etc..

The second was conducted by a jury of ten members, headed by academician Dominique Fernandez, who was judging criteria "subjective" as the exceptional character of the institution in its history or architecture, speed and permanence of its service, its excellent food and comfort …

Each has experienced: it is always extremely difficult to move from average to a respectable level of excellence, whether you are a pianist or a tennis player. The same is true for nations attain the status of "rich country" is not a foregone conclusion. Even when recording a growth of 10% per annum, and for three decades, which has enabled the Chinese to multiply their individual standard of living in a little over a generation.

Economic development is certainly not an exact science, but the trees do not ascend to heaven. Even in the jungle of state capitalism. There is no example in history where the growing disheveled inflected not only from a certain stage.By examining the career of some forty countries since the Second World War, Barry Eichengreen, Donghyun Kwanho Shin Park and discovered that the expansion slows inexorably past the threshold of 16,740 dollars to the GDP (gross domestic product) per capita. Anxious to establish historical comparisons, the three economists have reduced all data in constant currency (dollars at 2005 prices). Their study is published by the NBER (When Fast Growing Economies Slow Down: International Evidence and Implications for China).

This law, the French and their European neighbors have suffered in the early 1970s. In France, 1973 has been the hinge, GDP individual having reached 16,904 dollars. Over the past seven years – the reign of De Gaulle and Pompidou – per capita growth was galloping at a rate of 4.6%.She fell to 2.2% during the seven-year following that of Valery Giscard d'Estaing, a decrease of 2.4% of scheme. The United States had known since 1968 a reversal of the same nature and magnitude slightly higher (2.5%, according to calculations by three economists).

This break in France coincided with the first oil shock, which our countrymen seem to have still not delivered. Since then, it has ceased to lament the state of "crisis". The French have not realized that they had recently experienced a "golden age a quarter century of rapid growth inaugurated by the Marshall Plan and the postwar recovery," said Barry Eichengreen and his two confreres . Fourastie what John called the "Thirty Glorious Years".

China has a number of vulnerabilities

The scenario is in reality always the same: the reconstruction periods are marked by exceptional productivity gains.They do not constitute a sustainable standard. Farmworkers become industrial country imports the new technologies which increase its effectiveness. But once this revenue exhausted, we must innovate and find other vectors of prosperity. Furthermore the threshold of 16,740 dollars, the three economists put forward another concept: things become more difficult when a country obtains a level equivalent to 57% of GDP in the most advanced economy, one that portrays "on the technological frontier "(the United States in this case).

For its part, China still seems quite distant from these two criteria, especially the second (the Chinese GDP was only 19.7% that of the U.S. in 2007). But should it maintain its annual rate of 10%, it would affect the level of fateful 16,740 dollars per capita in 2014. The danger zone is reached in just three years.Barry Eichengreen prognostic so that "a significant slowdown in Chinese growth is imminent."

It is even more positive that China presents to him a number of vulnerabilities, making the course more difficult to cross than others. The observation of the forty countries studied shows that the transition is particularly difficult for a country to an authoritarian political regime, the industrial workforce is over 20% of the workforce and has a weak currency. Korea offers the previous "one centered on manufacturing exports and helped by an undervalued currency, with a consequent sharp fall in its expansion in the 1990s, culminating in the 1997 financial crisis.

Brazil is a land of opportunity

The study envisages a significant shift for China's annual growth would average between 6.1% and 7% over the decade, and would fall another notch (5% to 6.2% between 2021 and 2030 ). Barry Eichengreen believes that "Chinese authorities are convinced that a slowdown will intervene." Beijing seems sincere when he sets a target of 7% annual growth for the five-year plan 2011-2015.

The new emphasis on domestic demand and services, instead of all bet on the industry and export, is designed to circumvent the curse that threatens the country catch up. Many of them never get out of the "middle income trap" (around 16,500 dollars) for lack of a successful transformation.What they think the French have managed to "obtain the status of high-income countries" and since 1973 the GDP per capita has more than doubled. However, this is not the case in Latin America, said Barry Eichengreen. "Brazil is a country of the future and will remain" in the words attributed to General de Gaulle in the 1960s.

BNP Paribas is continuing its shopping. While the French bank has become the second European bank following the acquisition of Fortis at the height of the crisis, she joins a company controlled by Belgian financier Albert Frere to launch a takeover bid of 1.5 billion euros over the minority shares of Compagnie Nationale à Portefeuille (CNP), according to the Belgian authorities. BNP Paribas and Albert Frere already hold, directly or through their joint holding Erbe, 67.3% of NPC.

In financial terms, the offer is launched by the company Fingin, totally controlled by Erbe, and relates to the 28.3% stake in NOC currently held by minority investors (the remaining 4.4% are treasury CNP) . According to the Banking, Finance and Insurance Commission (CBFA) in Belgium, offers Fingin 48.64 euros per share NOC, is listed on the Belgian BEL 20 index.The action NOC having closed Thursday at 40.31 euros on the Brussels Stock Exchange, the offer price represents a premium of well over 20%. The operation would be a bargain: some analysts value the NOC to a higher intrinsic value 51.90 euros per share.

Accordingly, the holding company NOC, which covers in particular its interests in the unlisted sector would be delisted. And withdrawal could kick off a broader reorganization of the galaxy Belgian billionaire Albert Frere, a sphere with multiple stages.

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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".

"Solidarity and competitiveness are two sides of same coin." Angela Merkel has set Friday, his conception of economic and monetary union, and addressing an audience of business leaders has been its register closer to management than to the lyrical. While she stated emphatically that "the euro is our currency, and much more than money, is Europe today. If the euro broke out, the whole of Europe that would break out. "

But after this preamble, the Chancellor declined very clearly what was meant by a single currency for a community of states. "It does not constitute an average match but the most efficient," she said. Analyzing the different phases of speculation in recent months, she believes that "there is also speculation that is based on the real causes that must be fought."Take the evil at its root, the least competitive and most indebted countries must put their own houses. Angela Merkel gave no details on the possible strengthening of the European financial stability under consideration, ie on the issue "solidarity."

British support

However, it was very explicit on the competitiveness aspect. "We must give a strong signal (markets) in debt and competitiveness," she insisted. "It is not possible to have a single currency and social systems differ.The retirement age should be the same everywhere, similar research efforts, the same sense of entrepreneurship cash advance loans… We're not competitive enough in Europe. "

Referring to the agenda for the French presidency of the G20, it stressed a point that does not figure among the priorities, namely the conclusion of the Doha Round negotiations. "Free trade is the basis of growth worldwide," she said. And it's not for nothing that she has joined the very free-swinger David Cameron, the British prime minister, to ask for concluding the Doha trade negotiations this year.

It's a completely different context than the leader of the British government manages public finances even more onerous than the euro area."This is a question of national sovereignty," acknowledged the Chancellor of the Exchequer, George Osborne, recalling that his country will show the deficit this year the highest in the G7.

That is why David Cameron is quite proud that his country has kept its AAA rating from rating agencies. Upon taking office in May 2010, "the United Kingdom was equivalent status to that of Greece and Ireland, we are now out of danger zone." He sees it as a tribute to his strategy of "pro business".

Its budget strategy reordering of accounts, "for three quarters of spending cuts and a quarter of tax increases." Good prince, Cameron hopes that "the euro to succeed. Britain is a keen interest while 44% of its exports to the euro area. "

Hu Jintao, Chinese President imperturbable, he appreciates the jokes? His state visit to four days in the U.S. has not given more keys to respond. But hopefully for Muhtar Kent, CEO of Coca-Cola. To welcome the move to Washington to host such a prestigious and powerful, the iconic boss had taken the trouble to learn some Chinese words.

At the end of his welcoming speech, he has embarked on a toast in honor of President Hu and his delegation intended to remind its guests the best traditions of their homeland. But far from the expected emotion, warm "Kanpai!" Earned him that sarcasm and laughter payday loans online. So good that he should start Mandarin "Ganbei!" Muhtar Kent, President Hu was greeted in Japan. The confusion between two languages powers close to war was a long time but obviously not very happy.

But, for his part, Hu also likes sometimes deviate from the beaten path of diplomacy. He returned to the press on the historic nature of his encounter with Barack Obama. "It was the first time I met a Nobel Peace is not in jail," he said.

The euro started 2011 on a slightly downward trend. The single currency, which now circulates in seventeen European countries – Estonia is part of the euro area since 1 January 2011 – suffers from both the persistence of tensions on debt in Europe and a resumption of dollar .

The greenback resumed gradually colors, including through macroeconomic figures better than expected. "A series of increases in the U.S. indicators were induced to buy the dollar," said Yuichiro Harada, Mizuho Corporate Bank. Like to manufacturing orders rebounded 0.7% in November, while analysts expected a further decline."The market is now scrutinizing the employment numbers," warns the specialist.

As for public finances in the euro area, there was no bad news since the beginning of the year, but risk aversion remains strong. In recent weeks, rating agencies (Moody's, Standard and Poor's and Fitch Ratings) have placed several countries, including Portugal, Spain and Belgium on negative watch, implying a deterioration in their actual sovereign rating within weeks cash till payday. In Europe, Portugal, Greece or Spain will borrow on the bond markets and governments put in place, the chain of fiscal austerity measures. Latest, the United Kingdom, the VAT increase to 20%, more than in France.

Currently, Chinese Vice Premier Li Keqiang, continues its three-day visit to Spain, to demonstrate its financial support to countries.

The euro under $ 1.30 soon?

Thus, this Wednesday, one euro is worth just under $ 1.33 to 9.30 to 1.3268 exactly (-0.33%). This downward trend taken by the euro since the beginning of the year should continue in the eyes of most economists who see the currency below the $ 1.27 by the end of the first quarter.

The statistics of job growth in the third quarter of 2010, that just made public the ACOSS and employment center, go in the same direction: between July and September, France has continued to create jobs but at a level slightly lower than months. According Pole Jobs, Jobs merchant rose 0.1% in third quarter (against + 0.1% + 0.2 in the first and second) or 20,200 new jobs (33,600 + cons in the second). Over one year the increase was 92,200 jobs. The ACOSS, which includes in its statistics data from very small companies – against the more than 10 employees, only employment center – is more optimistic because it is estimated that 0.3% growth in payroll employment in the third quarter (the same rate as before, but three times higher than the first), or 53,000 new jobs (8000 months in the second quarter)."We are still in phase of the crisis," Judge Pierre Ricordeau, the CEO of ACOSS. Twelve-month rolling basis, the economy created 117,000 jobs.

The data segment are broadly consistent. In both cases, the industry continues to destroy employment but lesser extent than during the crisis and the previous quarters. And tertiary sectors, boosted by the Acting endlessly create new positions without reverting to its pre-crisis record. However, their statistics differ in the construction sector, whose development is slightly positive in the third quarter for the ACOSS but negative for employment center faxless cash advance. A difference however did not affect the annual evolution that continues to decline in both cases.

Impact of the end of the device zero charge

The slight shift does not mark a trend reversal."There are no indicators that show short-term break, Alain Gubian analysis, the head of ACOSS Statistics. The slowdown in the third quarter on job creation is in part due to anticipation of the branches at the end of the previous end of measure zero charge that allowed small business to hire an employee without charge for one year . Recruitments thus have simply been shifted. "The fourth quarter should also, in his opinion, be in the same order of magnitude.

Employment center has unveiled its next evolution of its estimates of unemployment and employment for 2011. Under the assumptions of growth, price developments and the average wage, the number of job seekers would fall into category A of 9000 to 94,000 (and 19,000 to 109,000 for the ABC) next year.As for total employment, it will grow at the worst of 53,000 jobs and more than 138,000.

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While Apple iPad promises to be "the" Christmas 2010, the multimedia tablet arrives in stores operator Orange.

Until now, customers could buy French on the web in Apple Stores, Fnac, Surcouf, some Carrefour, Leclerc and Casino between 600 and 800 euros.

With the grant from Orange, the price of the iPad 3G falls to 279 euros when purchased with a dedicated package, revealed Monday Stéphane Richard, CEO of France Telecom, Business on BFM.

Orange will offer two packages. One to 35 euros per month, with a commitment of 24 months including 2 GB / month, unlimited WiFi hotspots Orange, unlimited e-mails (including attachments) and unlimited WiFi access at Orange TV . It should offer a second package at 31 euros a month for 1 GBOrange customers will receive a 15% discount on these rates.

SFR and Bouygues in negotiations

Orange is the first operator in France to announce the marketing of the tablet. Not surprising because the French had so far been an excellent distribution channel for Apple iPhone with 3.25 million units sold (including 2.6 million in France), Orange is the second largest seller of the iPhone world behind the U.S. ATT. The French group still expects to sell one million iPhones for Christmas, including well over half in France. However, Orange does not reveal the amounts of iPad he managed to get from Apple.

Beside the iPad, Orange will also offer other tablets: the Samsung (Galaxy) for Christmas and later two other tablets, Huawei and Archos.

Its competitors SFR and Bouygues Telecom are themselves still in negotiations with the firm at the apple.If SFR also hopes to have the iPad for Christmas shopping, Bouygues Telecom does not think the market before 2011.

Because as always with Apple, negotiations are tough. "The demands are huge for Apple. It requires operators of sales volume commitments hallucinating. And also requires very high levels of subsidies, "says an analyst. Apple has not met its sales targets, so it now requires operators to help them. "

It will not be so simple for Apple to get rid of operators, although considering developing its own SIM card. "Whether the iPhone or iPad, if there was no grant of financial operators, Apple would sell a lot, lot less.So the balance of power between Apple and the operators are not quite as lopsided as you might think, "said Stéphane Richard.

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