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"If we do not respect the line to reduce our deficits and our debt to the minute interest rates will rise." Wednesday, Nicolas Sarkozy has gone a step further in the dramatization. After Francois Fillon, who suggested Tuesday that a hint of victory would boost Francois Hollande attacks against the euro area, the president candidate has warned against any slippage in the path of fiscal consolidation.

To raise the specter of an uncontrollable ascent rates, the current majority is based on digging for a few days the gap between interest rates ten years French (2.93% on Wednesday) and German ( 1.79%). At 114 basis points, after reaching 135 points Tuesday, this spread has actually widened over 30 points in a month.

Should we see a sign of growing distrust of markets in anticipation of a victory for the left, and expect a speculative attack against France after the second round? If the debate on this subject undoubtedly grows, nothing concrete has yet support this thesis. "The widening gap in interest rates between France and Germany is primarily due to lower rates to ten years German, while at the same time the French rate increase very little," said Patrick Jacq, BNP Paribas. In fact, France borrowed Wednesday cheaper than January 1 – the rate at ten years then stood at 3.20%. At the height of the crisis in the euro area, last fall, the OAT to ten years had reached a yield of 3.70% and the gap with Germany was around 190 points. The position occupied by Francois Hollande favorite in the presidential polls did not even affect the bond markets.

The fact remains that, beyond political considerations alone, the French debt will find itself under strong pressure in the coming days. Several factors will combine. The first is technical. As of Monday, April 16, the derivatives market Eurex will boost the marketing of futures contracts on the OAT need a personal loan with bad credit. Some see an opportunity for traders to speculate on France. "The danger is actually involved as a hedging tool transformed into an instrument of credit risk management," says Patrick Jacq. In other words, that some operators are betting on a French credit event.

Community constraint

Precisely, the second is the threat to a likely downgrade of France by Moody's, which can occur anytime during the next four weeks. On this theme, moreover, that the Socialist candidate responded to the attacks of the UMP: "If there was loss of triple A, is due to the left or right because of?" , asked Francois Hollande in response to declining rating by Standard & Poor's mid-January.

But the main constraint to be exercised on the French debt will be at the community. By coincidence, in the days following the second round, the European Commission must publish its report on the growth prospects of French public finances. However, this report will not consider the program of President-elect. "There is a risk that this be interpreted by markets as a distrust of the new president," worries do we camp in the Netherlands. In fact, it is on structural reforms of the future government that markets deem the French debt. "The benchmark in Europe now, it's Mario Monti and his reform of the labor market," says a senior European official. From this point of view, Francois Hollande is a real risk, arguing such measures as hiring officials or the questioning, even partial, of the pension reform.

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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

.

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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The tension is still up a notch on the site ArcelorMittal Florange in Moselle. About 300 steelworkers blocked since Thursday morning the release of shipments of the site for the restart of two blast furnaces, at a standstill for several months. At a central works council (CEC), management has confirmed the arrest of these furnaces in the second quarter. She said it was a "temporary suspension" and that the situation for the third quarter would be considered "in the month of May." The group, which invokes a slowdown in demand, provides a target restart facilities "as soon as market conditions permit".

Far from being reassured, the unions are convinced that management has signed the "death warrant" of Lorraine site, with imports of Russian steel to fuel its business outside furnaces.

"The management was committed to restarting our blast furnaces if Dunkirk was unable to feed, here, in steel," the mill hot strip mill, which produces steel for automotive technology, said Edward Martin , responsible CFDT. "And now she announces in CEC purchase of 60,000 tons of metal" to a "competitor" Russian laments there. Broccoli for Walter, FO, this purchase "constitutes an admission that Florange not restart."

According to management, 500 employees of ArcelorMittal are affected by the shutdown of blast furnaces, the other 2300 employees working on site production tools downstream. "We try to find a solution for each employee" affected, said Hervé Bourrier, CEO for France.

The possible appointment of Jean-Louis Borloo at the head of Veolia react keenly the opposition. Monday, politicians railed against a possible intervention of Nicolas Sarkozy in this case, as reported by Libération and Les Echos.

The Socialist Party, through the voice of Pierre Moscovici, denounced "little arrangements in Fouquet's friends no faxing payday loans." Canal +, the campaign manager Francois Hollande evoked "the game of musical chairs comfortable to oust a man of political centrists and avoid certain temptations."

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Intel against the current vogue. According to the worldwide microprocessor, the death of the PC (Personal Computer) in favor of smartphones and tablets is not announced.

Turnover of Intel blazed by 28% in the third quarter to $ 14.2 billion, for a net profit of 3.5 billion, up 17%. The strong increase is explained by the dynamism of chips for PCs, whose sales rose 22% to 9.4 billion. "Companies around the world support the purchase of PC. In addition, there is an upmarket laptops, "explains Stéphane Negro, CEO of Intel in France. Thus, the average selling price of a microprocessor increases, resulting in the margins of the group.

Activity remains the most profitable chips for servers, the mainframe computers used in particular to oversee a network of PCs.The demand for this class of machine is very high due to the construction of new data centers, conversion of companies in cloud computing (cloud computing) and scientific computing. Then, the next chip for servers is "twenty times more demand than that of the previous generation, at the same time," says Stéphane Negro easy pay day loans.

"Ultrabooks" second generation

In addition, one third of the growth of Intel, in the third quarter is attributable to acquisitions. The security software company McAfee and the modem division of German Infineon boosted sales of 1.1 billion. To support its growth, Intel will invest at least $ 10.2 billion to modernize its plants in 2011. This is a record for the group and probably for the entire sector information technology.Intel retool its plants to increase the density of transistors on each chip, reducing the burning characteristics and deploying a new production technology. Its development should be used in one year for the second generation of "ultrabooks" laptops, powerful and lightweight.

Paul Otellini, Intel's CEO, confirmed that in 2012, the group will finally chips used in smartphones and tablets. The stock has gained 4% yesterday.

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Steve Jobs, Apple's iconic boss, who invented, among other things, the iPod and iPhone, died Wednesday at age 56. "We are deeply saddened to announce that Steve Jobs died today," said a brief statement of the board.

"Apple has lost a visionary and a creative genius, and the world lost an incredible human being," said his successor at the head of Apple's Tim Cook, in an email to employees of the group. "Steve leaves behind a company that only he could have built, and his spirit will forever be the foundation of Apple," he said free credit score.

Born in San Francisco February 24, 1955, Steve Jobs was suffering from serious health problems for several years. It was reached in 2004 with a rare form of pancreatic cancer and underwent a liver transplant in 2009.On sick leave since January, he announced his resignation from his position as CEO on August 24, giving the reins to his number two Tim Cook. He reappeared briefly in March, thinner, to present the new version of the iPad, the tablet from Apple.

Player Figaro BFM

Certainly, Barack Obama will not have failed to read the study. While the U.S. President will propose to Congress on Monday a special tax on the income of taxpayers earning over a million dollars a year (about 725,000 euros), a survey by the University of Virginia published in early September in the journal Psychological Science, points out that a more progressive tax system is, the higher the level of "happiness" of its citizens is high. In other words, severely taxing the wealthiest taxpayers would be a catalyst for social welfare, said Shigehiro Oishi, director of the study.

Based on the results of such surveys of the American Institute Gallup, the researchers sifted through the levels of well-being of 54 countries by comparing them with the "escalation" of their respective tax systems.It appears that countries with happiness displayed by the people is the highest (led the quintet Denmark, Finland, Switzerland, Belgium, and Australia in that order) are those whose levels of taxation do matter the most high vis-à-vis the highest incomes. Note that France, whose maximum tax rate fell from 48.1% to 41% over the period 2003-2010 according to a KPMG survey of the institute, for its part, is ranked the twelfth largest in terms of " happiness "overall.

Public services better

But because of the difficulty of measuring this "joie de vivre", which does not depend exclusively on the level of wealth of a population, these results are to be taken lightly.And the United States, the richest country in the world and has a maximum tax rate of 35% in 2010 to eighth carracolent barometer of well-being of Gallup, far ahead of France.

Still, according Shigehiro Oishi, the correlation between a higher tax on high incomes and "joie de vivre" is mainly due to better quality public services in the countries concerned. He cites all government expenditures for "housing, education and public transport."

Under this prism, so some argue that the will of Barack Obama to tax more millionaires will have no impact on the happiness of Americans, as this is seen against a plan to reduce the budget deficit. But gentle irony, at least one of its taxpayers would certainly his "joie de vivre 'progress: the billionaire Warren Buffett.In an article published last month in The New York Times, the head of Berkshire Hathaway investment fund argued for such a measure: "While the poorer classes and middle classes are fighting for us in Afghanistan, while most Americans are struggling to make ends meet month we mega-wealthy continue to benefit from special tax exemptions, "he complained. Not sure, however, that the unanimity of implementation within the cocoon of "mega-rich"!

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While the price war is raging in the mobile, the controversy swells at the end of unlimited Internet packages, the operators challenge the tender on licensing 4G, Eric Besson, Minister of Industry, responds to Figaro on all issues and criticizing the socialist project on digital.

LE FIGARO. – The bidding on licenses 4G is attacked. Will you give up?

Eric Besson. – The State Council will vote Wednesday. Expect. But thanks to this call for nominations, France will be part of the forefront of the mobile broadband Internet. The government is selling rare frequency of the highest quality, which all countries say they are strategic. We do this with the twin goals of coverage and stimulating competition, the benefit of consumers. Traders feared that a monopoly or duopoly is not recreated.But this call for applications is the first to include criteria as pro-competitive: the creation of four lots so that all current operators can expect to find their place, creating a criterion favoring offers to host virtual operators. We have gone as far as possible to encourage competition. But we also need strong operators, able to achieve very significant investment for years to come, both for the deployment of mobile broadband as that of the optical fiber.

How will you deal with interference of DTT by 4G?

As has always been the case in all countries of the world, a trader who buys frequencies is liable for any interference that they can generate. We assess that risk to less than 2% of households.To facilitate the processing of any such interference, the government will establish a single telephone number, with a small call center, so that individuals can report any such interference on their TV and get the linkage with operator responsible. This device will be funded by all operators at a rate of 2 million euros per year for five years.

You advocate for changing the standard of TNT. Chains bonus going to be frozen, and consumers will they have to buy a TV?

I am not campaigning for anything, and there will be no change in standard of TNT in the coming years. The French continue to receive 19 free channels and 10 pay channels of TNT, with no changes.What we're talking about is the next step, and new services to be launched in the coming years: new TV channels, personal mobile TV, 3D TV … The question is whether these new services will use the older DVB-T or the new DVB-T2 which allows to get 70% extra services. Chains on bonus, not the government that calls into question, but the European Commission, which initiated proceedings no teletrack payday loans. It would be irresponsible to issue permits for them to be canceled two years later, and that the state is then ordered to pay $ 800 million to 1 billion euros in compensation.Let the president of the CSA put its proposal and the prime minister officiate.

Packages Unlimited Internet at home are at risk?

The unlimited plans are at the heart of the development of the digital economy and are not threatened, quite the contrary. New unlimited call plans appear almost every week. Some operators have started to consider to better segment their offer, which does by no means the end of the unlimited. With the development of very high speed, there will be even more unlimited in the months and years to come.

How do you protect consumers?

We have set up with the social tariff Frédéric Lefebvre mobile phone, which allows 40 minutes to communicate and send 40 SMS for less than 10 euros per month.We will implement in the coming days the social tariff of the Internet, or 20 euros per month for telephone and broadband Internet, plus 3 euros per month for a box. We will sign an initial agreement on September 13. The order that I issued on August 26 also includes important measures as the establishment of an impartial mediator to each operator, the requirement to obtain consent from consumers for the automatic sending of commercial messages or for the establishment of witnesses navigation.

What are the issues you organize inter-ministerial seminar on October 21?

This is progress in the implementation of the declaration of Deauville.Networks (both funding and security), protection of personal data and the fight against the digital divide will be on the agenda.

What do you think of socialist proposals on digital?

The project of the PS is archaic. It is based on a tax Internet access, known as "socially progressive". Internet access will be paid based on their income! The PS also wants to abolish Hadopi and create a global license. This proposal has been accepted anywhere in the world. This would be the end of copyright in the land of the cultural exception! The PS also provides for the creation of a single public operator for the deployment of high-speed fixed and mobile. He still has not understood that the introduction of competition was the key factor in broadband deployment and growth of the digital economy.

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Safran, currently listed on the SBF 120, will make its debut on the CAC 40 on 19 September. The industrial and technology group, owned 30% by the state and 16% by its employees, replaces the bank Natixis in the most important indicator of the Paris Bourse. The announcement of the decision of the scientific evidence that fell Friday night to enter into force on September 16 at closing. The CAC 40 has not seen changes since September 2010, when Dexia (bank) and Lagardère (media) had been replaced by Natixis and Publicis (advertising).

The case for an entry Safran are numerous. The group was first sold 6.5 million treasury shares on the market late in July to increase its free float to more than 50%. Or the size of free float is one of the most important criteria observed by the Board for an introduction to the Cac 40.Capitalization criteria equally crucial $ 11.6 billion. Finally, the performance of the title are not negligible. The stock has gained more than 14% since August 26, while the SBF 120 index has returned just 5.6%. Since the beginning of the year, it grew by 5.4% when the SBF 120 index lost more than 12%. "There is a large consensus on this value. Safran is a great candidate, "pointed out shortly before the decision Emmanuel Besson, manager at Equity Management Ofi AM.

Suez Environnement does not leave the Cac 40

Suez Environnement was on the spot. The company, owned 35.8% by GDF-Suez and 7.2% by Groupe Bruxelles Lambert, certainly has a free float above 50% but its market capitalization of 5.88 billion, is among the lowest in the four Cac 40, with STMicroelectronics, Accor and Peugeot.In addition, the title was severely punished by investors: it shows a loss of 17.6% since the beginning of July, in line with the losses of the CAC (18% over the period).

But it Natixis, which has been designated to leave the Cac 40. It must be said that banking stocks have suffered heavily in recent weeks. The title is back in the index only a year ago and this decision "could create additional pressure on the banking at a time when we seek to appease," said Emmanuel Besson.

Before the verdict, Safran fell by 2.77% to 27.05 euros at the close, in a market down 3.59%. In turn, Natixis lost 4.57% to 2.71 euros.

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