The French group, co-leader of the global wine and spirits, has lost his latest appeal yesterday in the battle between the past twenty years at rival Bacardi. Pernod Ricard can not use the Havana Club trademark in the United States, world's largest market rum (40% of sales). Held by the Cuban state, the famous rum is sold in 120 countries around the world by Pernod Ricard.

The U.S. Supreme Court refused yesterday to consider the decision to an appeals court in Washington in 2011 that had impeded renew the Havana Club trademark in the United States. And, under a 1998 law, also called "Bacardi Bill". The French had seized earlier this year the U.S. Supreme Court in hopes of finally succeed. "We are victims of something unjust, said yesterday at Figaro Pringuet, CEO of the group. This is equivalent to changing the rules in the middle of the match. "An allusion to the retroactivity of the law, in theory contrary to the U guaranteed pay day loans.S. Constitution.

A bitter defeat for Pernod Ricard. He sees close the doors of the United States while global sales of Havana Club have increased tenfold over the last eighteen years. But the French did not admit defeat. He is preparing for the next battle. Impose the Havana Club trademark in the United States when lifting the embargo will be imposed. Bacardi sells rum discreetly in Florida also called Havana Club, manufactured in Puerto Rico, is in ambush. Pernod Ricard does not intend to let its competitor the right to enjoy the international reputation of the brand, built over several decades. He therefore announced yesterday that he would file the trademark Havanista replica of Havana Club. Insurance for the French to cut the grass under the feet of Bacardi in due course.

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The general meeting of shareholders of Dexia, which takes place Wednesday afternoon, from 14 hours in Brussels looks very heckled. For if the fate of the Franco-Belgian seems to be a non-issue in France, he ignites the political debate on the other side of the border.

Concretely, Belgium seems now to enjoy the transition period at the head of the French state to make its case. In two stages. The Kingdom requires the Management Board of Dexia, now led by the French Pierre Mariani. She then wants to renegotiate the terms of its rescue.

Destabilized by the debt crisis, Dexia survives today only because it can be financed with the State guarantee for the time up to 45 billion euros, up 90 billion soon and if the Commission European accepts. However, Belgium – Dexia is a Belgian group legally – bears the burden of 60% against 37.5% for France. Too much in the eyes of the Belgian political.

During the meeting, the confrontation should focus on the vote of "discharge" to management and the board. A legal act by which the shareholders validate the management of the past year and believe that good leaders have acted in the interest of society. "Dexia has been mismanaged," stated Wednesday morning a Belgian secretary of state, Melchior Wathelet.

The subject is divided into the Belgian camp, from one party to another, from one region to another, knowing that are present in both the capital state, regions and holding companies in liquidation. It is highly likely that Belgium refrain from voting majority in the discharge which could then be voted in favor of the voice of the Deposit French (20% stake in CNP with insurance).

Very precarious balance

After the meeting, the chairman of Dexia, the former prime minister Jean-Luc Dehaene, should resign. And Board should co-opt a new member, Karel de Boeck, that Belgium had already placed at the head of Fortis failed in 2008. The Kingdom has made its candidate now occupied by the French Pierre Mariani, Dexia dispatched late 2008. Ultrapolitique become a subject in Belgium where the government opposes the payment of severance pay of French. He also wants to accelerate the appointment of a Belgian so you can negotiate the best possible overhaul of agreements to dismantle the bank.

And France in all this? At this point, it is the Deposit which is first in line, quietly. The institution headed by Antoine Gosset-Grainville seems to defend the status quo. Or acceleration of change of men at the head of the bank or renegotiation of agreements. A firm attitude that justifies the issue: Dexia is now very precarious balance, as evidenced by the loss of 431 million euros in the first quarter (over 11 billion in 2011 remember), released Wednesday morning.

If the plan is derailed, the bank will be recapitalised. Or, worse, the guarantees provided by the States may need to play, a nightmare scenario for France certainly, but especially for Belgium. Dexia shows still 399 billion in assets, is a time bomb in the heart of the fragile euro zone.

In the coming days, it's the French who will leave the wood. Francois Hollande and his team will then display the color vis-à-vis the government of Elio di Rupo, the Belgian Socialist whose presence at Solferino Street Sunday night was noticed. With two options. Either France is trying to recreate a consensus on the decommissioning plan. Or it enters a power relationship with Belgium.

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The election of Francois Hollande, Sunday marked the end of one of the major political acts of the quinquennium of Nicolas Sarkozy, the non-replacement of staff on two retiring. A policy that led to the elimination of 150,000 jobs in the State Civil Service from 2008 to 2012.

The socialist president wants to create the contrary, under his five-year, 60,000 positions in 5000 and National Education in the police, gendarmerie and justice. These recruitments will rise gradually in charge. But as from September 2012, Francois Hollande affect 1000 additional teachers in French schools. However, the new president said he would not increase the total number of state officials in the next five years.

In light of new posts in the Education, Interior and Justice, the stabilization of the workforce including the abolition of jobs elsewhere. The entourage of Francois Hollande said that the army has already planned to reduce its workforce by 8,000 jobs per year and that is enough to "find" to delete 5000 jobs per year in other departments. And also to emphasize that there are 60,000 jobs in duplication between state and local governments.

Officials should not expect a boom in terms of pay. Francois Hollande promised to quickly organize a conference with social service unions, but also announced it would not be possible to do everything at once. Encrypted program also provides for a stabilization of the payroll of the state. Officials saw their index point, which is the basis for their compensation, frozen in 2011 and 2012. This is likely to last.  

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Christine Lagarde is more than ever determined to "increase the firepower of the International Monetary Fund", that its financial resources. But if the euro area "is the epicenter of the potential risks" of the global economy, "Europe is not the only one? We are not obsessed with a region "said Thursday in Washington, executive director of the IMF during a press conference that opened two days of spring meetings of IMF and World Bank.

Capacity building support from the Fund will be the highlight of the discussions to be attended especially the G20 finance ministers. Christine Lagarde has renewed its appreciation to Japan, "the first country that has decided to commit themselves" to the tune of 60 billion euros, while acknowledging "the Scandinavian countries who responded to the call and Singapore."

The Japanese contribution is the first quantified commitment to a non-European. This is in addition to those States of the euro area itself, which from the outset, have said they would put 150 billion euros in the pot (just under $ 200 billion). But Christine Lagarde, who had advanced earlier this year the figure of 500 billion, reduced its ambitions "to just over $ 400 billion" figure it has itself argued in an interview Tuesday Italian newspaper Il Sole 24 Ore.

Bilateral borrowing agreements

The negotiations will be very difficult and should not be concluded this week with the aim of reaching agreement at the annual meetings of October 2012 in Tokyo. On behalf of the United States, Tim Geithner, Treasury Secretary, said two days ago that his country "would not put money" but would support those participating in the operation. Recall that this strengthening of resources take the form of bilateral loan agreements with its 188 member countries (including the last admitted this week is Southern Sudan). It is not a capital increase of the IMF, as such. Now this is where the rub the side of the emerging countries, including China and Brazil, who would like to link this extension means the Fund to an expansion of their representation. Now it is even less question that the last reform of 2010 increasing quotas and powers to the board in favor of emerging countries mainly, has still not been ratified by the necessary majority. Within the G20, Argentina, Canada, Germany, Indonesia, Mexico and the United States, have not yet ratified, do we reported to the IMF.

Christine Lagarde must also combat the widely held in international public opinion that the firewall is only designed to help Europe, Spain and Italy, among others. She also found that Spain does not need assistance plan "for now".

Executive Director of the IMF insisted on Thursday the new initiatives launched recently, as "the trust fund for the poorest countries", mentioning also "the five countries of the Arab Spring, for which we need more resources." But the difficulty is to find a common agreement with the governments, especially with Egypt, for which the loan of $ 3.2 billion from the IMF, which should be a catalyst for international aid, is still pending .

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SMEs have suffered worst of the credit squeeze between 2007 and 2010 than larger firms, experts say that the OECD published the first report on "Financing SMEs and Entrepreneurs" by sifting through data from 18 countries ranging from Canada to Sweden via South Korea, France, Hungary, Finland, the United States.

SMEs have been hard hit by the crisis in 2008 and 2009. Confidence indicators of SMEs in OECD countries have fallen to levels lower than those of the 1990s. Direct consequence of falling demand from mid-2008, SMEs were down to their turnover. Companies that export have suffered more than those living in their home market only because of the decline in global trade.

Risk clients unattractive

SMEs have also been handicapped by the lengthening of payment periods which continued in 2010, despite a slight improvement in the economic situation. They have experienced cash flow difficulties. Their financial situation has deteriorated. Faced with this deal, their banks have lent less in most countries in 2008 and 2009. In 2010, financial institutions continued to reduce their lending in Finland, New Zealand, Portugal, Slovenia, the United Kingdom and the United States.

In the euro area, the rejection rate of applications for credit from 12% in first half 2009 to 18% in the second half of that year. A country is an exception: France, where the percentage of refusals decreased from 12% to 7% through the introduction of credit mediation and government decisions. The public financial institution specialized in SMEs OSEO has provided 12 billion euros of loans guaranteed in 2009. According Oséo, 50% of companies having benefited from the exceptional warranty cash claim to have avoided bankruptcy. In 2010, the refusal rate financing amounted to 11% in the euro area.

Considered unattractive risk clients, SMEs were asked to provide more guarantees for credit. They paid more bank financing than large groups, despite lower interest rates. According to figures released Wednesday by the Bank of France, the cost of short-term credit to businesses rose from 2.49% to 2.42% between October 2011 and January 2012. But the cost of borrowing in the medium and long term for companies rose 4.06% to 4.21%.

The policy of the banks says that the share of SME loans, which varies according to country, between 12% and 30% of total loans to businesses, has fallen when it is already well below their weight economy and their role in job creation in normal times. Not surprisingly, the number of SMEs in difficulty increased. In 2009, bankruptcies increased in the studied countries except Canada, South Korea and Portugal. They were up in 2010 in Denmark, Hungary, Italy, Slovakia and Switzerland. Although they have declined in France, Finland, the Netherlands, Sweden and the UK, they remained at a level much higher than in 2007.

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Taxpayers can breathe: the local tax rates should not increase this year. Tax notices will arrive in mailboxes this fall only. But local officials, who had until April 15 to vote on their budgets, have made their decisions. "Overall, the mayors chose not to raise rates in 2012 of the housing tax and property taxes on both, on the frame and the non-built" summarizes Laurent Philippe, President of the variety right to the Finance Committee Association of Mayors of France (AMF). Paris, Lyon, Marseille, Toulouse, Lille, Grenoble, Nantes, Nice, Rennes or Bordeaux opted for stability in 2012. As medium-sized cities like Perpignan, Orléans or direction. Communes of Issy-les-Moulineaux, near Paris, and Chatillon-sur-Seine, in Burgundy, has even dropped their local taxes! Departments follow the same path. "The majority of councils in 2012 froze the property tax rate on the frame. And most of those who did have increased moderately, between 1% and 2%, "says one to the Assembly of Departments of France (ADF). Among the few above this low water we find the Maine-et-Loire (rate increase of 5.1%) or the Haute-Garonne (2.8%)

But this apparent wisdom must not forget two things. On the one hand, the housing tax and property taxes are the product of the rental value of housing by a tax rate, which is voted by local councilors. The leasehold basis, they are indexed annually at the national level. For 2012, the parliamentarians decided a 1.8% increase (from 2% in 2011, 1 payday loans.2% in 2010 and 2.5% in 2009). Result, local taxes paid by households will increase by 1.8% where the tax rates of the department and the municipal block are stable.

Later in the rigor

However, in municipalities having decided to increase the rate of 1% tax bill will rise by 2.8%. On the other hand, the lull follows the fiscal shock in previous years. Newly elected in 2008, mayors and councilors have "benefited" from the beginning of their mandate to fill the coffers. Paris and has increased its local tax rates of 9% in 2009 and 8% in 2010. In Nice, the increase was as high as 14.8% in 2009. The Perpignan have been put to them in 2010 (+8%) and 2011 (+4%). The approach of the 2014 elections produced the opposite effect. "Elected officials will do everything to not raise taxes until the election" said Philippe Laurent.

The climate has changed in local communities. Transfers paid to them by the state were frozen in 2011 and declined slightly in 2012. Bank credit is harder to obtain. After years of massive hiring, operating expenses slowed (+2.4% in 2011). Departments will reduce their investment in 2012 for the third consecutive year. Nicolas Sarkozy wants to go further and impose discipline in the regions, counties and cities with more than 30,000 inhabitants not to replace a retiring on two of their agents. Francois Hollande and if does not want a "two", he advocates a stabilizing state transfers.

After the price surge of recent years, the Paris property market finds reason. The first stages of court or 5ES without lift no longer sold at the same price as the beautiful well-appointed apartments Haussmann. The buyers picked by hand. They take the time to compare and negotiate prices, with declines of up to 10% of the price of goods with defects. "It takes 50 days to sell a good average. Twice a year ago, "says Sebastien de Lafond, President Meilleursagents. com. Buyers are also much less likely. "There are 30% fewer buyers, but also 20% less in property for sale. The market is not blocked, "he says. The family apartments, the most expensive, more difficulty finding takers. However, small areas are more resistant. It's the same for the central districts most popular, including fourth, sixth and seventh, where the changes are smooth. Falling prices could instead be more pronounced in the south of the twelfth, thirteenth and fifteenth districts and north of the seventeenth and in the nineteenth and twentieth districts.

The neighborhood developed by:

• First, Second, Third, Fourth

• fifth, sixth, seventh

• eighth, sixteenth and seventeenth

• Ninth and Tenth

• eleventh and twelfth

• thirteenth, fourteenth and fifteenth

• eighteenth, nineteenth, twentieth

First, Second, Third, Fourth. Few offers, but more selective buyers

At the heart of the capital, the supply remains limited as always. This does not prevent the consumer to distinguish more and more good from the bad. "We continue to have an average of four buyers for a seller, says Nathalie Naccache, at the head of four Fortis Realty Century 21 agencies spread over the first three arrondissements. But when any property was posted to 10,000 € / m² is over. "For her, the year started better than expected, thanks to the proper maintenance of credit at attractive rates. More than ever, investors are there, despite the new tax, and they flock to small areas well placed. A charming studio of 22 sqm on the 5th floor without elevator, in the Palais Royal, went very quickly for € 240,000, after three visits and three offers at list price, while in Montorgueil, a comparable property is left for € 230,000 bad credit payday advance. However, if the work, maldistribution or lack of light, sales stall if a rebate of 5 to 10% is not consentie.Des more affordable prices are found on the side of the trail, the Halles or neighborhood Arts and Crafts. In the latter area, a 2 bedroom 45 sqm 1st floor but work has sold € 390,000 (€ 8,660 / m²). For its part, the shop real estate, including a network located in the Second and Fourth districts, recorded a net return to calm after an exceptional 2011. "Up to € 300,000, demand remains strong and the products go, the director notes, Thibaut Ponnat. In addition, the time of visit and sales have more than doubled compared to last year. "Among his recent sales: a 2 rooms of 28 m² with a dip in the trail, negotiated € 252 000. In the Marais, French buyers as foreigners are always present. "Simply, the French are negotiating harder, says Fabienne Zouari, director of the agency Orpi the third. There is no real price declines, but the estate with defects are selling more slowly and with a discount of 5%. "Proof of the enduring popularity, it just sold for € 260,000 a studio of 23 m² Rue de Turenne, 3rd floor without elevator, busy with a low rent and needs some work! As for the Ile Saint-Louis, she also knows that limited changes. "Our customers are 60 to 70% foreign, recognizes Eric Jacquet, real estate consultant at Nexity (formerly Lamy). Prices are lightly packed and buyers are more fussy about the quality of the property before the plunge. "This does not prevent transactions to be finalized at very high levels: 13 800 € / m² for a studio 22 sqm on the 1st floor, Quai de Bethune, and nearly 14 500 € / m² for a 62 m² rue Saint-Louis en l'Ile, 4th floor.

Fifth, sixth, seventh. The very large surface stall

Censier Street, the demand is there, but buyers believe prices are too high. Photo credits: Gilles Leimdorfer / LE FIGARO MAGAZINE / Le Figaro Magazine

After the Millers last week, it was the turn of the manufacturers of dry dog ​​and cat to be sanctioned by the Competition Authority. In a country of 8 million dogs and 10 million cats, groups Nestle (Purina), March (Royal Canin) and Colgate-Palmolive (Hill's Pet Nutrition) were sentenced to pay 35.3 million euros for cartel with their wholesalers.

According to the sages of the Rue de l'Echelle, Nestle and Mars agreed for five years (2004-2008) with their wholesalers, who then sold their stores croquettes (BHV Jardiland, Leroy Merlin, Truffaut …).

The two market leaders have imposed their resale prices, exclusive territorial or customer, thus limiting competition between them. Royal Canin had already been convicted in 2005 by Constable competition.

As for the subsidiary of Colgate-Palmolive, she has arranged with its veterinary wholesalers to ban the export of its products outside the Hexagon.

If Nestlé and Mars are the most heavily penalized (19 and 11.6 million fine), they nevertheless benefited from reductions of approximately 20% penalty for not contesting the facts. They also set up compliance programs to competition rules. Finally, they reorganized their distribution system and p

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For this formula the insurance premium paid by the insured depends on the actual mileage each year. Unlike traditional insurance providing "small" and "large" rollers in the same way, the insurance km fits the real needs of the driver's insurance.

This is the only difference from a conventional insurance. Otherwise, the proposed safeguards are strictly the same with or without this formula. Liability, all risks formulas, bonus / malus … nothing changes.

Insurance kilometer may interest all those who drive around with their vehicles. It may, for example using mostly urban public transport, the elderly, young drivers …. But also own several vehicles, some of which are little used, such as campers or collector vehicles.  

In practice, it is interesting for vehicles that travel less than 8000 km per year. At comparable guarantees, insurance kilometer can then save up to 30% on contributions (15% on average).

Auto insurance in package

For this type of auto insurance, the insured and the insurer agree on an annual mileage not to exceed. To verify its use, the meter of the vehicle is controlled at the time of contract execution, and annually thereafter. He is also in case of emergencies and some companies even provide for random checks cash till payday.

For exceeding the package, the insured pays a penalty. It can be fixed or depend on the number of additional kilometers performed.  

Conversely, if the package is not reached, some insurance contracts provide for reimbursement of the overpayment or deferral of kilometers of unused quota the following year.

Auto insurance "pay as you drive" (pay as you roll)

It is the insurance per kilometer in the fullest sense. The insured is actually charged according to the exact number of miles it performs in the year the vehicle is in this case equipped with a GPS unit, whose pose can be paid or free.

Some insurers not only modulate the rates based on mileage, but also driving conditions. Thus, when driving at night, on weekends or in urban areas for example, rates are adjusted accordingly.

Note: Some insurance companies offer both the "pay as you drive" and the package. At the insured to choose the most suitable according to its "consumption" (regular or subject to strong variations from one year to another and even from month to month).

SERVICE:

"Make several comparative auto insurance quotes and contact auto insurance brokers specializing in these formulas.