International Headlines and Stories

The French will not endure forever rising fuel prices, without changing their consumption habits. According to an Ifop poll published Sunday in the South West, 47% of respondents intend to reduce their consumption now if gasoline prices continue to climb.

Consequence of the soaring price of oil, those fuel have reached record highs last week. A liter of unleaded 95 has sold 1.50 euros on average in the hexagon, and a liter of diesel 1.54 euros, said earlier this week the Directorate General for Energy and Climate (DGEC ). Some stations even offered Paris a liter of unleaded fuel to 1.8 euro.

If consumers incorporate more and more since 2005, the idea of ​​an inexorable rise in fuel prices, 1.5 euro per liter of diesel remains for many a symbolic threshold beyond which they consume as much. Only 15% of respondents put this threshold at a level greater than 1.5 euro per liter, said the survey. Jean-Louis Schilansky, president of the French Union of Petroleum Industries (Ufip), makes the same observation. He recalled that in 2008 when fuel prices had also risen sharply, the consomamation was down 3% once this threshold is crossed guaranteed unsecured personal loan.

Not lower taxes

The decision to reduce its consumption or not, however, depends partly on the level of life. 40% of workers have thus been limited.In contrast, managers and professionals are more likely (14%) than average (11%) said they will not alter their habits, whatever the price of a liter. For many, the level of fuel consumption is also strongly constrained by the lifestyle.

Faced with soaring prices, the government this week but ruled out any cut in gasoline taxes could reduce the transport budget of the French. "You can take steps this guy at a time when we must take into public finances," ruled the Economy Minister Christine Lagarde. It was therefore confined to advise the French to buy the morning and follow rules of conduct to reduce, even at the margin, the price at the pump.

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Egypt is safer. After the violent demonstrations against Mubarak in recent days, the French Ministry of Foreign Affairs recommends to "defer all travel" to the non-emergency countries. One can read in the Travel section of the site of the Quai d'Orsay that "French people there are asked to limit their movements to a minimum and to stay away from crowds."

Accordingly, the National Union of Travel Agencies (SNAV) said on Sunday suspended all departures vacationers "until further notice." Notably, "there will be no departures tomorrow (Monday)," said Georges Colson, chairman of the professional organization. For clients on site, they "extend their stay and return without incident happen normally. Charter flights are parties to seek empty of customers.There was no notable incident. "Toursits Nearly 1,000 French are still in the country. They were 4,000 in the beginning of the weekend, according to tour operators.

Customers affected by the suspension of departures "may defer travel free at a later date on Egypt or any other destination programmed by the tour operator, has previously provided the Centre for the Study of tour operators (CETO) in a statement quick payday loan.

By Friday evening, the French tour operators have suspended all departures scheduled this weekend to Egypt, following a request from French Foreign nationals "limit" their movements in this country. In 2010, 600,000 French surrendered in Egypt. Belgian tour operators have also decided on Saturday to suspend departures until Monday included.They do not plan to repatriate their customers already there.

Contagion events in North Africa has enough to worry the French tour operators. Tunisia is the first travel destination of the French, ahead of Morocco and Egypt.

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The High Audiovisual Council has not waited 24 hours to assign the first frequency of pay DTT project of the League of Professional Football. The latter defended Monday his proposed general channel 100% football. This choice was made at the expense of Digital TV and its hybrid project Select TV Channel + and especially defending Canal + Family, a channel targeting young children and the family expected to pay DTT more attractive. But for the CSA, football on television is the most unifying and the most attractive products. The nine sages have therefore voted unanimously with one vote for this project. Only Michèle Reiser would have voted against it.

The CSA will probably also sensitive to the need to stem the omnipotence of Canal Plus pay television and its hegemony over football.However, it is unclear whether this choice favors in the future dynamism of Canal + to distribute the pay DTT. This is all that Canal + has more than a million subscribers on TNT while the operator has 3.5 million subscribers for its other offerings, including satellite.

This decision could sour relations between Canal + and The Football League who become competitors rather than just business partners. This choice will then require APF Canal + to decide a little blind to the nature of the compensatory channel: free?

Finally, the LFP has to learn a new profession, that of editor of pay channel.

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In Brussels

The Twenty-Seven and the European Parliament have failed to agree Monday night at the finish negotiations on the EU budget for 2011, expires at midnight before a final deadline. The EU may find itself on the straw from 1 January. This failure, amid power struggle in Brussels forced the Barroso Commission to submit a new draft budget. Given the time of procedure and voting, the EU may find itself without resources at the beginning of next year. She should live from month to month, under pressure from the provisional twelfths. The External Action Service, the new financial supervisory authorities and the experimental reactor ITER would be left penniless.

The standoff, which began in the summer on the credit restrictions imposed by national treasuries, moved in recent days about the power of future control MEPs.All colors combined, the Parliament finally agreed to limit expenditure growth to 2.91%. But it demands in return for having a say in deciding on the following exercises for resources as for expenses.

Political Declaration annexed to the budget

Separately, then in a final attempt at conciliation, the two powers of the EU should decide on a compromise plan: a political declaration annexed to the 2011 budget. The text, pushed by the Commission, faced the supporters of rigor as the advocates of a minimal interpretation of the influence of Parliament. Any agreement supposed unanimity of Twenty-September By early evening, the United Kingdom, the Netherlands and Denmark were still missing the call.

This group led by the United Kingdom will have been due to the consensus that was ready to emerge."I regret that a small number of member states have closed the door to an agreement on the 2011 budget," said President of the European Parliament, Jerzy Buzek, on the expiry of the deadline for negotiations. First failure of this kind for the EU since 1988, this setback leads to the stability of EU spending next year.

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Access to the refinery Grandpuits, blocked for several days, were freed by police at about 9 am Friday. Three members of the picket line were injured, according to the CGT. The police, acting with his bare hands, pushed the protesters to clear the gate of the refinery, and it was during the stampede that people were slightly injured.

The coordinator Total SGC Group, Charles Scarf, denounced Friday a "charge outrageous". "The injured colleagues, a trade unionist and two employees were kicking."

The oil refinery in the Paris region had been requisitioned by the government early Friday morning "on behalf of the interests of national defense."A cordon citizen "of about 80 people, residents and activists of other corporations, had tried to prevent the requisitioning of the refinery ordered by the prefect same day payday loan lenders.

Total Grandpuits site, Seine-et-Marne is one of twelve oil refineries located on French territory, advanced in the protest movement against pension reform. "What has happened is extremely serious," complained Charles scarf during a press briefing in mid-night.

"Roundup of our social"

"From time to Petain, we knew the raids, in the era of Nicolas Sarkozy, we know the roundup of our social, trade union rights of the raid by this request because it hinders the employees in exercising their right to strike" , he said.

Europe 1 radio this morning, the union leader reiterated his criticism: "What has happened to the refinery Grandpuits with that obstacle has the right to strike will undoubtedly create a shock and especially in industry "said union leader on Europe 1.

The prefect of Seine-et-Marne, Michel Guillot, along with some of his collaborators, "came to himself requisitions to staff in order to supply service stations and all clients of Total, all that pretext of a code Defense, "railed one union official.

"No right to hijack the French"

Blocking refineries and fuel depots caused disruptions in the supply of gas stations with the approach of the first departures on holiday of All Saints.Of the approximately 12,300 stations that include France, 2790 were facing shortages as the score made Thursday by the government.

Traveling in the Eure-et-Loir, Nicolas Sarkozy defended Thursday the release of hydrocarbon deposits paralyzed by stating that it could leave a "minority" to hijack the daily life of the French 24 hour pay day loan . "We have no right to take hostage the people who have nothing to do in their daily lives," he said. "By taking hostage the economy, business and everyday life of the French, it will destroy jobs," he added.

The police continued Thursday release of deposits, such as Ruby in Rouen, which supplies the Rouen area and part of the Ile-de-France, said the interior minister, Brice Hortefeux on Europe 1.September filings were released last night, he said, adding that 14 remained paralyzed on the 219 countries of which 96 are considered "priority".

(With agencies)

Computer graphics – refineries blocked in France

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Reference documents of the bank confirm information given on Saturday by Europe 1 radio. Thanks to a tax scheme, Societe Generale has recovered 1.7 billion euros over the 4.9 billion lost by the bank in 2008 in the Kerviel affair.

In case of exceptional losses in any given year, the corporation tax in effect allows the banks to receive a tax deduction. It may reach one third of the amount lost or the standard tax rate of corporations.

In the case of Societe Generale, the mechanism was carried out in two stages. For fiscal 2007, the bank recorded the gain of 1.471 billion euros made by Jérôme Kerviel, and has accordingly paid a tax of 507 million euros related to the gain.The following year, in 2008, the Societe Generale saw a loss of 6.382 billion euros (the balance between the gain of 2007 and the 2008 loss is $ 4.9 billion), which triggered the mechanism tax deduction, amounting to 2.197 billion euros. By subtracting the taxes paid in 2007 this sum, we obtain 1.69 billion euros in tax savings.

"By seamlessly"

For the bank, "the tax treatment of losses related to fraudulent activities of Jerome Kerviel has been done transparently in accordance with tax regulations. "Any company deducts its costs and loss of income to calculate the amount of its profits and hence taxes, is it worth.

As for the difference between the net loss of tax deduction, or 3.21 billion euros, and the amount of damages awarded by the Paris Criminal Court, or 4.9 billion, Societe Generale said that " any money received for repairs will be subject to taxation, which would revert to the state a portion of the tax lost. "

"Outrageous"

Jérôme Kerviel, the former trader at Société Générale, 33, held solely responsible for a record loss suffered by the bank in early 2008, was sentenced Tuesday by the Paris Criminal Court to five years in prison and three farm 4.9 billion euros in damages. Societe Generale had excluded then demand the entire 4.9 billion to its former trader.The former trader has, however, appealed the conviction.

Olivier Metzner, a lawyer for Jérôme Kerviel, Société Générale has "misled the court by not informing him" that she had recovered the money. "Societe Generale has recovered 1.69 billion euros that is to say that his injury can never be 4.9 billion," assured the lawyer. "It's absolutely outrageous, that is close to the ruling of the scam, that is to say, we are asking the court to order payment of sums already paid." "If we had known, it could have changed the decision," he said.

After the verdict, Olivier Metzner had already ruled on the matter: "There is no question of negotiating. Today, we believe that we should no money at Societe Generale. "

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Sanofi-Aventis sets the direction of Genzyme backs against the wall. The pharmaceutical company announced Monday the launch of a hostile takeover of the U.S. biotech company to acquire all outstanding shares of this company. Proposed Amount: $ 69 per share is exactly the amount originally proposed by Sanofi-Aventis, which had been strongly rejected by Henri Termeer, CEO of Genzyme. The takeover was approved unanimously by the Board of Directors of Sanofi-Aventis.

According to the release of the group, the offer "represents a substantial premium of 38% over 49.86 dollars per share on 1 July 2010, before it is affected by rumors of acquisition" .It also represents "a 31% premium over the average stock price of Genzyme on the one-month period until 22 July 2010

Refusal to discuss

Sanofi-Aventis decides to go directly to shareholders of the U.S. biotech because of the refusal of the leadership group to "engage in constructive discussions" on such redemption. The meetings were held last September 20 have been unsuccessful despite attempts by the French group to "advance the discussion."

According to Sanofi-Aventis, meetings with shareholders holding in aggregate more than 50% of the shares of Genzyme revealed that they are also "frustrated by the persistent refusal of Genzyme to have serious discussions on the proposal .

This bid, the media imagined climb from one to two dollars, so Genzyme valued at 18.5 billion.It expires at 23:59, New York, December 10, 2010. Genzyme shareholders will have to decide by then whether or not they provide their credentials to Sanofi-Aventis, thus sealing the future of U.S. biotech.

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When Wall Street catches cold, the CAC 40 sneezes. And vice versa: when U.S. exchanges are smiling, the indices Parisian delights. While the Paris Stock Exchange opens in 9 hours, the direction it takes depends on the orientation of 58% of U.S. markets the previous day (closes at 22:30), according to a study by the Bank of France.

And when comes the time when the United States are waking up – early in the afternoon on this side of the Atlantic – the new American mood and bleed from the atmosphere online payday loan lenders market in Europe. U.S. economic data, which usually fall between 14:30 (one hour before the opening of U.S. markets) and 16 hours, have an immediate weight on the Paris stock exchange, which often lasts until it closed at 17 h30.

To what extent depends on the Paris Bourse U.S. markets?

Franz Wenzel, deputy director of strategy at Axa IM

U.S. stock markets have opened lower on Tuesday with housing prices that are left down in the U.S. in July, after three months of increases, according to the monthly S & P / Case-Shiller.

For all the twenty largest American cities, they fell by 0.1% from the previous month (seasonally adjusted data) after rising 0.2% in May, says the study.

Then at 16 hours, new whammy: the confidence of consumers who fell more sharply than expected, according to the Conference Board index released Tuesday, which fell 4.7 points from July to $ 48 5.

The Dow Jones declines to 4:05 p.m. and from 0.59% to 10,752 points, the Nasdaq is up 1.02% to 2346 points and the S & P 500 by 0.74% to 1134 points.The day before, the indices have all declined by about 0.4 to 0.5% after a session with a bang Friday.

On the foreign exchange market, the euro was very slightly up at 15.30 against the dollar, despite persistent concerns about the state of public finances of Ireland and the weakness of some European banks. The euro stood at 1.3448 dollars against 1.34588 dollars the night before. On Monday the European currency reached 1.3507 dollars in session, its highest level since April 20 paydayloans.

The shift from Dell

The side of values, Michael Dell, CEO of the former world number one PC, says the Figaro's turn to provide "complete solutions to businesses." He also claims to have about $ 15 billion of cash available to finance its external growth projects.The securities are 0.08% to 12.65 dollars.

Always on the side of values, the Canadian group Research in Motion (-3.06% to 46.88 dollars), listed on Wall Street and known for its multifunctional phone BlackBerry, unveiled Monday in San Francisco a new tablet computer called Touch Playbook who wants to be "the first professional tablet.

For his part, Jabil Circuit (-3.81% to 13.37 dollars), a company specializing in services for the semiconductor industry announced 58.7 million profit. Turnover is 3.9 billion against $ 3.67 billion expected.

Also note, according to the WSJ, the U.S. central bank (Fed) would consider setting up a program soon to purchase under state an amount much lower than its previous program but on a very concentrated in the time.However, the program would have no time limit, or possibly amount according to the WSJ.