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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Double the normal. During the month of Easter – Friday night for Jews and Sunday for Christians – he buys at least twice more lambs than usual. "It consumes on average between 4000 and 5000 tons of lamb meat per month in France, according to panel data Kantar says Anne Mottet, an economist at the Livestock Institute. When Paschal month, households consumed 9,000 tons in 2010, for example. " A strong tradition since 13% of French households to savor the occasion of Easter, against 5% in normal times. The lamb symbolizes for Christians the resurrection of Christ and the Jews, the exodus led by Moses out of Egypt.

Economically, the farm became a holder of lamb from the reallocation in 2009 by former agriculture minister, Michel Barnier, a part of CAP subsidies in favor of sheep farmers, the farmers worse off at the time. "It allowed me to generate additional income of 12,000 to 15,000 euros per year," said Hubert Elder, farmer in Maine-et-Loire.

To prevent a portion of the added value is captured by intermediaries, this direct selling. "At Easter, I'll sell 12 lambs against 4-5 in a typical week. They are valued 30% more than when I sell them at retail "he adds. A small niche – is consumed in France 190,000 tonnes of lamb, only 10% of the pork market – but profitable. The price is comparable to consumer beef prices: 12.95 against 12.94 per kilo for beef and 6.58 for pork.

Still according to Kantar, the French producer of lamb is the best paid in Europe with a price paid around 6.09 euros per kilo, against 4.97 euros in the UK, against an average of 4.78 euros in Europe.

UK and New Zealand

Flip side, nearly 60% of sheep consumed in France are imported from countries where they are cheaper to raise. More than half the imports come from the UK, just under a quarter of New Zealand, Ireland and the rest of Spain.

"Legs salt meadow, racks of lamb, milk, orders flow for three weeks, said Christian Le Lann, artisan butcher in Paris. We sell top quality local lamb but there is a commoditization of the product because of the importance of imports of lamb from New Zealand including a by-product of wool transported frozen, which invades the shelves of supermarkets "says the merchant who is also president of the French Confederation of butchery.

Lastly, there is the question of renewal of French sheep farmers. They will be 63% out of business in the next decade. The investors do not rush in sheepfolds.

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It was one of the key ideas of the socialist program, before Francis Holland revise downwards its ambitions: the merger of the Income Tax (IR) and the CSG. Now the PS candidate speaks only of reconciliation by the end of its protection mandate. In 2010, the UMP had also considered the option of a merger-IR CSG, before abandoning it.

A government report, prepared by the Department of Budget aimed at parliamentarians, rather gives reason to oppose this tax big bang. For this report, as Le Figaro has obtained, says the administration will not be able to say, before the implementation of the reform, which categories of French will be the winners and which classes will lose. And even if she knows the parameters of the operation. The fusion of IR and CSG would be a leap into the unknown. A leap of faith with immense fiscal challenges: the CSG reported 86 billion in 2011 and IR 48.9 billion.

A complex system

It is the complexity of the current system is causing these problems. The IR and the CSG are two very different taxes. The CSG is proportional. Wages, regardless of their levels, are always punctured by 7.5%. The IR is progressive: the tax rate varies according to income. Income between 5,963 and 11,896 euros per year are taxed at 5.5%, those between 11,896 and 26,420 euros to 14%, etc.. And, unlike the CSG, the IR has many niches. Finally, the IR takes into account the composition of the family through the family quotient, that is not the CSG.

Reconcile the two systems implies change settings so numerous that it becomes impossible to measure the combined effects. There is no way, says Bercy, to be certain that the objective (make taxation more "just" socially, with fewer niches and a progressive scale, as desired by the Socialists) is reached.

No flat tax

The report further finds that certain categories, such as pensioners, could lose to a fusion of IR and the CSG. Their two advantages (a CSG lower, a 10% reduction on the IR) could be questioned.

However, the new tax could not, whatever happens, be modeled on some flat tax adopted in Eastern Europe. The flat taxne not take into account the family situation, is proportional and is taken directly from the payroll. But the report stresses that the new French tax must meet three criteria, under penalty of being declared unconstitutional: consider the family situation, be progressive (not proportional) and tax all income. However nothing prevents the imposition of a levy directly on the payroll in France. But again, tipping is technically complex … Merge the IR and the CSG to create a new tax is a long, complicated, and uncertain results.

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In private, the waiting period is currently three days. But under the austerity plan, the government plans to bring it to four days, stated Valérie Pécresse and Xavier Bertrand on Tuesday. A measure subsided, according to the entourage of the Minister, by which pension arrangements are provided 70% of employees, which may reduce or eliminate this delay.

Stops short penalized more

This extra day would represent a saving of around 200 million euros.

Francois Fillon said last week that the restoration work and housing continue to benefit from a 5.5% VAT. But there are other sectors taxed at the same rate (books, food, water …). This pattern of a VAT has the advantage of antidélocalisation consistent with the government's strategy to improve competitiveness.Many big names of the majority favor this option, as revealed by Le Monde Wednesday payday loans for bad credit. But the subject is politically sensitive.

At Bercy and Matignon, we refused to comment Wednesday, reaffirming that decisions depend on the outcome of EU summit.

However, it seems almost assumed that the new austerity plan will include an increase in corporate income tax, most likely via a surcharge, which weigh down for a few years the current rate of 33.3%. This surcharge would be targeted at large companies (those falling within the scope of the social contribution to the IS and therefore paying more for 763,000 euros IS). For cons, the Elysee remains opposed to a reduction in payroll tax relief for 35 hours.

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The boost will cost the charges because the state just over 200 million euros. Effort that the government wants to compensate for not widening the deficit. As announced in Le Figaro, the doubling of the tax on sugary drinks should help.The state estimates that from a euro cent to two cents per can, he should recover over 120 million euros. And the remainder, Bercy wishes to the agricultural sector contribution.

Movement of the plane 10%

To do this, the Ministry of Finance, armed with his plane, went through the 40 tax loopholes enjoyed by farmers. Two possibilities were considered. According to Les Echos, the reduction of capital investment (DPI) would be a first option. In its report on tax loopholes, the General Inspectorate of Finance (IGF) emphasized that the device "does not respond only partially to its original purpose to help finance investment." It allows however to 110,000 farmers to reduce their taxes, and farmers are very attached.The government should turn to another niche: the tax benefit for the use of heating oil as fuel. The fuel is taxed at 5.66 euros per hectolitre, against 42.84 euros for diesel, and that niche cost one billion euros per year. So the government is considering a movement of the plane by 10%.

The construction further penalized

To justify this possible movement of the plane, the General Inspectorate of Finance argued that this advantage is at odds with environmental goals, even if it contributes to competitiveness. She also points out that the niche overlap with the tax rebate on energy products, another niche that costs 150 million to the state.

The decision could, however upsetting beyond the agricultural sector. More than the farmers, are in fact the public works professionals who take advantage of this niche.They pick up about 550 million of tax benefits, against only 450 million (300 euros per vehicle) for farmers.

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"GAME NEWS –

"The lunch break has become the adjustment variable of the workday, says Anne-Sophie Godon, director of prevention within the group of social protection Malakoff Médéric. The content of the day was densified, while the distance between work and home tends to increase. In this context, employees have no choice but to cut back on the lunch break. "Women are more concerned than men, many of them prefer to take the shortest time at noon in hopes of starting earlier work, says Odile Fox, medical officer in Paris.

Employees bring their lunch more

With less time spent at lunch, it is the nature of the meal that has changed. A perceptible change in the last few years yet, the study said. Since 2009, the number of employees who go home for lunch has been declining (29% of respondents in 2011 against 34% in 2009), as well as those who go to a restaurant business (19% instead of 22%). In contrast, the share of those who swallow a sandwich as a meal is still growing by 2 points in 2011 compared to 2009.

Shortening the length of the lunch break is not always synonymous with "junk food" one of the most striking findings is that the share of employees who bring their pittance to work, after having prepared at home is strong growth. Almost a third say they do frequently, women are over-represented again. "The French are trying to eat more balanced, it is a serious sociological trend installment payday loans. Provide meals is a way to control your diet. It's also a way to save money, "says Anne-Sophie Godon. The crisis is over there.

Decreased concentration

Sandwich and dish prepared in advance, reducing the dwell time has nevertheless perverse effects. "When you eat quickly, no time to feel full. Satiety occurs only after a quarter of an hour.And when we eat at his computer, it's worse: it does not even pay attention to what you swallow. Result, we tend to snack in the afternoon, "said Patrick Serog, doctor. In 2011, 39% of employees admit to regularly snacking, two points more than in 2009. "Making a real pause, three-quarters of an hour, is crucial, says Odile as Fox. Without this cut, the stress builds up. "

The health of the employee is not only involved for the company either, the lunch break is not wasted time. An employee who does not stop and does not cut even if it's only twenty minutes with their working environment is an employee who may lose concentration. "Attention has its phases. It can be really careful for forty five minutes or an hour, but rarely more.If we restore his normal work environment at his office, for example, the concentration decreases even faster, and we made mistakes, "warns Patrick Serog. This did not include an office where you eat according to host Monster 400 times more bacteria than the toilet normally maintained.

"Testimonials – And you, do you take time for breakfast? Prepare your meals in advance or do you buy close to your work? Share your experience in comments below or by email at temoin@lefigaro.fr.

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As in the previous session, and in the wake of Wall Street with the Dow Jones tumbled 3% Tuesday, investors are still concerned about the specter of a global recession.And, after the ads for the less pessimistic the U.S. Federal Reserve (Fed), which held that the U.S. economic recovery was "slow" and threatened by "high risk". She decided to restart the machine, sell by the end of June 2012 for $ 400 billion of treasury bills and to purchase for the same amount with a longer maturity. But the fact that it favors measures to monetary easing, a depressed market, which sees it as a sign of impotence.

The G20 is mobilized

In addition, doubts about the economic situation in China also weigh in the balance. Manufacturing activity in the country has deteriorated in September, reaching its lowest level in two months, according to preliminary PMI bank HSBC said on Thursday.PMI Purchasing Managers calculated by HSBC in September reached 49.4 against 49.9 in August, knowing that a figure below 50 means contraction.

However, in an attempt to break the deadlock, the first twenty economies in the world rally: they have promised to respond "strong and coordinated international" to the crisis. Central banks are particularly committed to providing "the necessary liquidity" to financial institutions.

On the foreign exchange market, the euro appears in small increase compared to the U.S. dollar: it rose on Friday morning from 0.42% to 1.351 dollar. Oil prices also went up in Asia as investors sensing bargains after the significant losses suffered by the crude in recent days.Within the scope of a tumble of more than $ 5 Thursday, a barrel of "light sweet crude" for delivery in November clinching 53 cents in early electronic trading at 81.04 dollars, a barrel of Brent North Sea crude for November delivery gained 71 cents to 106.20 dollars. "Oil rises due to bargain hunting and redemptions of coverage after several sessions of decline," said Ker Chung Yang, analyst at commodity Phillip Futures in Singapore.

Another element reassuring: the announcement of an increase, the first since May, the U.S. ISM non-manufacturing index. Good news that comes at a time of doubt about the growing economy of the United States. Moreover, investors who are eagerly awaiting the president's speech Barack Obama on jobs Thursday, learn this morning by CNN that he should propose to spend $ 300 billion to new posts.

Japanese exporters straighten the head

In Tokyo, the Nikkei, which was closed yesterday's session at its lowest for two years, started the day with a gain of 1.54%. It accelerated progression in the morning and was up 1.93% to 8756 points in a half hour of closing. The index is particularly driven by the weakening of the yen against the dollar yen trading at around 77.50 this morning, less than 77 against yen during most of the previous days. The Japanese currency fell after the decision of the Swiss central bank yesterday set a floor rate of 1.20 Swiss francs to one euro.The dollar and the euro are raised in the process, vis-à-vis the Swiss franc as well as the yen.

Also note the decision unanimously, the Bank of Japan (BoJ) to keep its key rate in the range of 0 payday loan lenders.0% to 0.1%, in order to fight against the effects of deflation and the high price of yen. The National Bank has also indicated that he still hoped a return of the Japanese economy to moderate growth between the end of the year and early next.

Side values ​​result: operators take the opportunity to return to the export sector had been battered in recent days.Among the largest increases are as Mazda Motor (3.40%), Sony (3.09%), Sharp (1.52%) and Panasonic (1.31%).

The title Yahoo Japan Corp. also climbed 1.92%, buoyed by the announcement last night of the ouster of the CEO Carol Bartz, in office less than three years, replaced temporarily by Tim Morse, current chief financial officer.

Rebound of the Australian economy

Elsewhere in Asia, is also the time for optimism. The Stock Exchange of Hong Kong and Shanghai respectively, earning 1.20% and 1.32%. The Korean Kospi flies of 2.71%, driven by the technology sector. Samsung Electronics is 4%, LG Electronics and Hyundai Motor 5.3% 2.6%. The Indian Sensex gained 1.03%.

In Australia, the S & P grants itself 2.30%. Operators have learned that the national economy, weighed down earlier this year by natural disasters, experienced a sharp rebound in the second quarter.GDP shows an increase of 1.2% over the period and 1.4% year on year, said Wednesday that the Bureau of Statistics (ABS). These figures exceed the consensus expected a 1% increase in the second quarter and 0.7% year on year.