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A water sports center has replaced five towers in the district of Val Fourré in Mantes-la-Jolie. Photo credits: ANRU

Real Madrid exhibition of frustration. Tense, silent Wednesday night after the draw conceded to Villareal (1-1) bringing the FC Barcelona 6 points behind the leader of La Liga, Real Madrid players (Karim Benzema, Iker Casillas, Sergio Ramos, Jose Mourinho and surrounded Zinedine Zidane) had, early Thursday afternoon, smiling again to unveil a draft of magnitude: "Real Madrid Resort Island." A tourist complex and theme park located in the UAE, in Ras al-Khaimah. Game without borders

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On an artificial island (50 hectares), a marina, hotels and luxury villas, museums, sports facilities including a 10,000-seat stadium will rise up and hope to host in January 2015 from one million visitors a year. A "Real Madridland" (45 minutes from Dubai Airport) estimated at $ 1 billion, which is reminiscent of the Ferrari World theme park located in Abu Dhabi since 2010 letting go of roller coasters, driving simulators

. Between excitement and nervousness

"When Real Madrid Island Resort will open its doors, the visitor will be part of the legend of the best club football history, which seeks to be eternal, universal guaranteed online payday loans. This is a strategic institution in the Middle East and Asia, "summarized Florentino Perez, the president of Spanish club. The Real (480 million budget, 460 for FC Barcelona), sacred richest club in the world for the sixth straight year in 2011 (438.6 million revenue in 2010), club all records on transfers (Cristiano Ronaldo, 94 million euros, Zidane, 77 milllion …), wants to continue to combine with all the time.  

The past is revered through daily visits in the corridors of Santiago Bernabeu, the home club. Besides the exploits of Alfredo Di Stefano, the volley of Zinedine Zidane with the Champions League final in 2002 against the Merengue Leverkusen appears XXL poster. This, to him, found himself between excitement and nervousness (C1 hopes of a tenth and a thirty-second Liga, most recently in 2008), when the future is taking shape. Voted the best club of the twentieth century, Real wants, the year of its centennial, see below, great

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This is one of the heaviest penalties ever imposed in France for price fixing. The Competition Authority condemned Tuesday the largest producers of bagged flour French and German in total fines totaling 242.4 million euros.

As Le Figaro had revealed (read our editions of March 29, 2011), the institution has identified two antitrust cases, one involving French millers having agreed on prices, and the other a Franco-German cartel to limit to 15,000 tons, from 2002 to 2008, German exports in the Hexagon.

Flour France, sentenced to 8.3 million euro fine, and Axiane Milling, who scoop the most severe penalty (44 million), have decided to appeal. "We have taken note of the decision, which amazed us, said a spokesman Axiane. The penalty amount is disproportionate to the activities of the company, who made last year 167 million euros in turnover which only 15% correspond to the sale of flour in bag. "… ….. A first

This is the first case of this magnitude in the food industry. The Competition Authority has estimated that 11% of the costs to consumers. Moreover, it is the second time a consumer product is concerned by this affair. Last year, a cartel of manufacturers of detergents was sentenced to 361.3 million euros in fines. In both cases, this is a leniency application made by one of the protagonists who revealed the agreement.

"The Franco-German entente has been sheltered from competition German millers French, which enabled them to segment the market and respond with one voice to calls for major retailers such as discount stores," summarizes a spokesman for the Authority's view that the distributors were not aware of these practices.

The severity of penalties is due to the unprecedented duration of the agreement. In fact, since its inception in 1965, France Flour, owner of the famous brand Francine, leader in France, was at the heart of a system of understanding that allowed him to sell the output of its seven shareholders millers. "This is a transparent system of grouping that existed openly and everybody," protests Axiane Milling, one of its shareholders.

Considered a "false nose" Flour France was dissolved in mid-January and Francine brand was sold to one of its shareholders, Nutrixo. The Competition Authority should soon make its decision in another case involving the millers. This time it concerns the sale of bulk flour to bakers.

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What assurance kilometer?

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.

LE FIGARO. – Despite the progress of the Brussels summit in Cannes and G20, the euro area is still in turmoil. What is the right long-term EU strategy to ward off these attacks on the euro?

Edouard Balladur. – Efforts by the Franco-German cooperation is commendable, but it must go further. The Europe of 27 is too broad and diverse, it is little more than a big market for the euro area, it has a single currency, but it is struggling to make quick decisions and does not have a policy exchange decided by a governmental authority. For twenty years, I defend an organization of Europe by combining circles States according to the skills shared. It is urgent to implement and begin to better organize the euro area.If the ECB was implementing this massive deterrence, speculation would fall and we would cease to move from crisis to crisis paydayloan.

The Germans did not they always raised an objection of inadmissibility outright the idea?

Do they have a reasonable expectation of it together without the 2 trillion dollars that would discourage speculation? Why is opposed to the expanded role of the ECB? The fear of inflation? The risk is much less in a world of globalization based on a competition that lowers prices.

Some defend the "other policy" and openly talk about protectionism. This crisis gives them she right?

On the contrary, it gives them wrong. History has decided: to maintain our role in the world, defend the ability of our business, secure our energy, we need to reduce deficits.

Since one or two years, the French no longer have to wonder whether they should go to a cash or a tax office when they have a tax problem. They now have a single contact. This is the most visible result of one of the largest state reforms undertaken since 2007: the merger of Taxation and the Treasury in a branch of public finance (DGFIP).

This is especially symbolic that this government has succeeded where the team Jospin failed to combine the two tax authorities. In a survey of the merger, commissioned by the Senate Finance Committee, the Court of Auditors said that the reform was carried out on time and that its success is "an achievement in change management."

But the Court also notes that the merger would have been cheaper. "All were first restructuring cost.The question is whether the bill was not too high, "said Philippe Marini yesterday, the president of the UMP Senate Finance Committee during a hearing of the protagonists of the case to the commission.

Between 2008 and 2012, 12,000 jobs have been removed to DGFIP. Despite this, the payroll has been stabilized in 2011 and decline only in 2012 to reach 4.95 billion euros. "From 2008 to 2010, the workforce was reduced by 3%, while the wage bill increased by 1%" Nicole Bricq summarized yesterday, the rapporteur of the commission PS. When asked by Le Figaro, Philippe Parini, the Chief of DGFIP, believes that this performance is good.But yesterday at the hearing, the Court judges were more skeptical.

209 million of additional costs

In the report following its investigation, the Court regrets that the general rule in the civil service, which means that half of the savings from job cuts to be redistributed in additional payments to agents, has been exceeded in DGFIP in 2010 ( 62 guaranteed approval cash advance loans.5% of redistribution) and 2011 (54.8%).

In detail, the Court expressed surprise that the merger premium of 350 euros per year, originally created for the sole agents affected by restructuring, has been granted in 2008 to all members of the DGFIP. Then it has been perpetuated from 2009 and then increased to 500 euros this year. Total cost from 2007 to 2012: 59.5 million euros.However, in addition to this premium, the agents of the DGFIP benefited from the harmonization of remuneration from the top.

"No merger can not be done with a harmonization of salaries to the bottom" replied yesterday a senior official of Bercy, noting that the harmonization alone had accounted for half of the 209 million additional cost of the merger.

"We take the fact of having paid the premiums," added Philippe Parini. "In total, over the whole period of the merger, from 2008 to 2012, we distributed to agents 52.3% of the savings related to job cuts. It is little more than the norm. Overruns in 2010 and 2011 and punctual and will be made up later, "he said in Le Figaro.

Senators of the committee members are themselves worried about the consequences of yesterday's job losses to DGFIP.They fear a decline in the quality of service.

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Asia market again the path of higher Wednesday. After avoirclôturé a sharp decline yesterday in the wake of the collapse of European markets, stock markets in the region take advantage of bargains. They are also relieved that Wall Street has weathered the panic by closing on a more moderate decline in Europe.

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.

Monday, August 29 at 10 am, Alexander Pugachev, the owner of France-Soir, and Remy Dessart, the managing editor, will meet with employee representatives in a council. At that time, leaders should inform staff that they have requested placement in the daily backup process, as revealed PressNews.

The newspaper, which lost 32 million euros in 2010, is expected to lose at least fifteen this year. Reportedly, the group does not bend under the weight of debt. It supports about 2 million in payables. In fact, the financing of the newspaper is provided by Alexander Pugachev himself, who regularly feeds the current account of the newspaper to pay the bills.Figaro in an interview last November, he declared: "France-Soir has no bank debt … We lose about 2 million a month and every month I put money on account."

This backup procedure, if accepted by the Commercial Court of Paris, will allow the appointment of an administrator. Its role would be not to negotiate with creditors, but rather to address the structural and economic reasons that make the newspaper is in permanent deficit. France-Soir and will be until the release has not reached the 150,000 to 170,000 copies by the admission of its owner.However, at present, the paid circulation of the title revolves around 74,000, despite the relaunch of the title made in January 2011.

The cost structure

Alexander Pugachev, who has already invested 50 million euros in the title, was prepared to inject 20 million euros in 2011 to run the newspaper and energize. But today, it raises the question of the cost structure of the paper. The selling price, even back 50 to 60 cents, and low advertising revenues do not find a financial balance. The equation is complicated Alexander Pugachev. To reach 150,000 copies, the newspaper needs to invest in editorial quality and a strong distribution. But this is expensive. It might therefore seek partners to share the burden.

The French Association of Private Enterprises (Afep), which includes very large groups, will this evening at dinner Xavier Bertrand. Labour Minister and his guests have something to talk about everything found: the taxation of the remuneration of top managers.

Xavier Bertrand Tuesday reiterated the government's intention, not to establish a "maximum wage", but to increase the levies on companies' pay extravagant wages "- which in his view, means" several million euros. " The idea was initiated by a part of the majority in the debate on the alleviation of the ISF and the end of the tax shield. The Left had also seen a way to feel good after a "gift to the rich" … The measure should be passed in the fall.It could take two forms: a new tax or the inability to deduct the payments of the tax base of companies. "I favor the latter possibility," the minister said Tuesday.

"Branding a category»

Neither of the two formulas, in any case not suitable for Afep. Its chairman, Maurice Levy (Publicis Groupe), found the need to "be bad enough faith to consider that there is a problem together" on the compensation of top managers of French companies instant credit reports. Based on a study Aon Hewitt, he assured that they are on average paid less than their counterparts at the head of U.S. companies, Swiss, British, Spanish or German. "It's not healthy to attack a general executive compensation. This leads to stigmatize a category, "says Maurice Levy."I'm not at all support the idea that decides what should be the compensation of one or the other, in a total abstraction of what the company," he says. As to subject executive compensation to the general meeting of shareholders, rather than the board or a special committee, the president of the Afep sees "no need to submit to such AG decision over another ", saying that there is already" in the company a democracy that works very well. " Annual reports, accessible, detailed executive compensation.

"Personally," Maurice Levy, however, sees "no objection" that the persons whose total income is high "contribute more in difficult times," as an "element of solidarity."

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