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The Chairman of the Board of Directors and former CEO of L'Oreal Lindsay Owen-Jones afflicts some 3.3 million euros per year pension, according to Capital magazine, which published its last issue in a ranking of "retreats Gold bosses.

At 64, Lindsey Owen-Jones – CEO from 1988 to 2006 – which last year received two million euros of annual salary as non-executive chairman of the world leader in cosmetics, "already has a pension of 3.3 million euros per year, "wrote Capital.

The magazine's ranking, which evaluated from annual reports of the pension groups already affected or hats come from bosses, ahead of Lindsay Owen-Jones CEO Franck Riboud of Danone, which should reach 1.8 in the future million euros in annual rent, and that Axa's Henri de Castries, the pension provided, when he was 55, is 1.1 million euros annually.

Behind them are the CEO of reinsurer Scor Denis Kessler (800,000 euros per year), former president of Sanofi-Aventis Jean-Francois Dehecq (779,000 euros) and Henri Proglio, which besides a pension of 769.000 paid by Veolia Environnement, affects 1.6 million euros a year as CEO of EDF, said Capital.

"Under pressure from the public and shareholders, companies have significantly planed pensions hats they give to their leaders," the magazine notes, however, that assesses the average annual pension of "30 most spoiled" of them at 720,000 euros.

"The retirement of the CEO is generally calculated on the basis of its last three salaries (including bonuses), when ordinary workers must produce his best 25 years, also falls Capital, which said that the groups are saving for pouring the future pensions promised.

Personal loans like these have to be repaid back within a time span of 15-20 days. This period can be extended a bit in case of emergency.

This is a total war being waged now Google and Apple, opening the front lines in all areas of mobile Internet. Mobile advertising terminals via the operating system and applications, the giant online research and computer manufacturer will not release one ounce of ground to their opponents. That's why Google, who made a fortune during a decade in marketing advertisements on its search engine, is preparing to start selling music online.

European Banks Are they healthy? The question that torments the markets will soon find an answer. Indeed, European leaders have agreed to the request of France and gave the green light to publish the detailed results of stress tests (stress test "in English) which are subject garndes their banks. The 27 hoping to reassure markets worried discover surprises.

These reviews are intended to reflect the ability of banks to withstand extreme financial and economic conditions. Currently, those made at European level on a score of major banks remain confidential.Last year, only general trends were made public, including the fact that European banks were sufficiently capitalized to face a severe deterioration of macroeconomic conditions.

First published in late July

Nicolas Sarkozy has confirmed at his press conference that the publication of these tests would take place in late July as desired by Paris. Earlier in the day, Christine Lagarde, French Minister of Economy, had told Reuters: "I am very positive about this publication. There is nothing worse than the rumors and doubts about the banks. " The Minister is confident, remembering that French banks have so far yielded positive results. These displays of the solvency ratios for the time, satisfactory. In the opposite case, Christine Lagarde said the banks to recapitalize.

Madrid triggers debate

The day before, the Spanish central bank had announced the forthcoming publication of the results of these tests. The newspaper El Pais had found the ad "unprecedented in the euro area. The Madrid Institute hopes to dispel the doubts now hanging on the strength of its banking sector. The Spanish governor of the Bank believes that the current rumors greatly amplify the difficulties of the Spanish financial industry. He hopes that the markets "are fully aware of the situation in the Spanish banking system."

Banks reluctant

Further to the announcement in Madrid, the German government long reluctant, finally decided to give the green light too. But Berlin has yet to convince its banks. German institutions showed far opposed the publication of these results.

Successful tests of Moody's

The European Central Bank will also favors the publication of these tests. In the eyes of the central bank, the operation of transparency is able to reassure the markets. And regulators have reason to be optimistic. Indeed, European banks have recently passed the tests of strength by Moody's. The rating agency has increased the stress tests to thirty European banks from ten countries, and concluded that they have a level of capital sufficient to take further losses.

The Dow Jones is expected to open up 0.67% at 10,206 points. The index futures are predicting a slight increase in opening of U.S. markets. Shortly before the opening of Wall Street, futures on indices Standard & Poor's 500 and Nasdaq 100 advanced 0.76% respectively at 1093.30 points from 0.65% to 1854.50 points.

Caution remains the watchword. The statistics emerged mixed Friday, with an index of consumer confidence than expected for the month of June, but the announcement of an unexpected decline in retail sales in May The Dow Jones closed up 0.38% at 10,211 points while the Nasdaq gained 1.12% to 2243 points.The three major U.S. stock indices ended the week in the green since the S & P 500 closed with a gain of 2.5%

In this session of transition marked by an agenda very quiet and a euro that has just crossed the $ 1.21 mark, investors could resume, however, slowly, some appetite for risk, encouraged by the improving market Asian and good consumption figures published last week in the United States.

Real estate, consumption and inflation on the agenda

They eagerly await the remarks on Wednesday held Federal Reserve Chairman Ben Bernanke on financial sector reform.We know already that the crisis of sovereign debt in Europe has pushed the timetable of the next Federal Reserve decision affecting its basic rate, as provided Monday James Bullard, president of Fed St. Louis.

Before that, the functions of building permits (Tuesday) and housing starts (Wednesday) will be monitored closely. But these indicators should have a real strong correction with the end of the tax credit.

On Wednesday, the industrial production should instead show strong growth for the month of May, while producer prices (same day), then consumer prices (Thursday), should confirm the absence of inflation United States.

Shortly loaded results, the agenda will be dominated by Wall Street setting CBOE Stock Exchange, the last U.S. platform independent.The price of the introduction should be provided on Monday night.

In addition, FedEx (Wednesday), the cruise Cardinal (today) and Best Buy (tomorrow) will publish their quarterly results.

Moreover, the U.S. administration is stepping up its action against the British oil and wants to confiscate the group dividends. A threat to the stock.

The market for nuclear reactors following "an upward trend," according to Mitsubishi Heavy Industries (MIH). The conglomerate of Japan believes that dozens of these reactors should be located in Europe by 2030. And he does not miss the boat. The group is announcing Wednesday the signing of a letter of intent with the Spanish group Iberdrola Ingenieria y Construccion. His goal: to increase its chances of winning several bids for the construction of nuclear power in Europe. "We hope thus to accelerate the introduction of our advanced pressurized water reactors EU-APWR in European countries," MHI said in a statement.

Specifically, the agreement provides that if a contract awarded, MIH supports the manufacturing facilities and the provision of essential equipment.For his part, Spanish will be responsible to install, the grouping of devices and materials that their test. The offer of MIH is based on a pressurized water reactor of 1,700 megawatts (MW), whose rights have been designed for the Japanese market, and adapted to European standards and regulations.

MIH is not his first partnership with a European group. The Japanese already collaborating with the French Areva in a joint venture called TDD, which is developing a medium-power reactor for countries wishing to launch their first nuclear power.

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Eurazeo adds another string to his bow. The investment company, majority shareholder or reference Accor, ANF, Apcoa, B & B Hotels, Elis, Europcar or Rexel, addresses the SME segment. It plans to invest 500 million euros on this segment by 2015, with two or three operations per year.

These investments will be made on equity through a new structure, Eurazeo Growth. In the medium term, the portfolio of SMEs Eurazeo could represent between 10% and 25% of the total assets of the investment company.At the end of 2009, it operated approximately 3 billion euros of assets.

Patrick Sayer, chief executive of Eurazeo, said in March, when presenting the annual results in loss, the team was preparing to intensify its efforts on niche growth companies.

"By creating Eurazeo growth, we apply our expertise to SMEs developed for large groups," said Patrick Sayer. We are ensuring our network of knowledge and skills, enabling them to better structure their growth.The team Eurazeo has essentially not changed for eight to ten years and has acquired a real expertise in project development, in entirely different. "

First operation in the photovoltaic

During the period flagship private equity from 2005 to 2007, Eurazeo had won many targets (Apcoa, Europcar …) in the face of industry. More recently, Accor is the case marked minds quick pay day loan. Associated with the American Colony Capital, Eurazeo obtained the separation of the two businesses of the group.

By targeting SMEs, therefore changing Eurazeo registry. He came to hunt on the ground already very competitive mid-cap funds. "We have the unique ability to support SMEs in the long term growth by investing in several times and helping to raise debt, warrants Patrick Sayer.Our goal is to change their size. In sum, Eurazeo growth is one-stop shop for SME growth. "

The first operation, in a society photovoltaic Fonroche, has just been completed. An initial investment of 25 million this year will be completed next year by an injection of same amount.

"Before deciding to invest in Fonroche, we met several photovoltaic companies in France, explains Fabrizio Gaudemar, head Eurazeo Growth.Fonroche matched exactly the profile we are looking for, having a presence throughout the downstream portion of the chain (assembly, design, installation, operation, maintenance) and with the ambition to become a genuine producer of renewable electricity in the medium term. The volume of business the company should spend between 2009 and 2010 from 27 to about 200 million euros.

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The issue of credit to households debate. Several elected UMP party and elected socialists, among others, had submitted amendments to replace the National Register of incidents repayment of loans to individuals, thus creating a "positive file, listing all the credits for individuals. Finally, the Minister of Economy has decided and opted for the establishment "within 12 months" of an "instance of foreshadowing. "I'm for a tool that works," said Minister of Economy to the deputies when examining the draft law on consumer credit. We must create an instance of foreshadowing because it does not happen overnight a quantum leap of this nature to pass the file in incidents of payment to a general inventory of 9 million people, "argued Christine Lagarde .

"Coaster"

If UMP deputies, who withdrew their amendments for the creation of "positive file, were satisfied with this compromise, however, the SP, we speak of" coaster ". "Whenever you have a problem, you create a working group. The string is a little big. Your speech does not convince us, "said Socialist Jean Gaubert empire payday loans. The same goes towards his colleague, Francis Brott. "The majority is thus the choice of banks against consumer choice," he says. Today is a first class burial of "positive file, '" he said. The Socialist amendment was then rejected.

The government has introduced and passed a new amendment which stipulates that the creation of a "national registry of credits for individuals" is the subject of a report submitted to the Government and Parliament within twelve months, " developed by a committee to prefigure this development "and whose composition will be fixed by decree.

This debate on the "positive file" was held under the bill reforming the consumer credit which aims to reduce abuse by better protecting consumers and imposing new obligations on lenders.

Members will vote by formal vote Tuesday, April 27.

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Markets dissect ads Fed on Tuesday. The latter said that economic conditions continue to ensure the maintenance of interest rates to extremely low "for a long time." The Fed maintains its policy rate in the range from 0 to 0.25%. The institution also believes that "the job market is now stabilizing.

Investors reacted without enthusiasm to these ads. Around 19h25, the Dow Jones climbed 0.32% to 10,676 points while the Nasdaq is 0.57% at 2376 points. The S & P 500 gained 0.61% to 1157 points.

In addition, import prices in the United States declined slightly more than expected in February by 0.3% from the previous month after rising 1.3% in January, according to the Labor Department.Analysts expected a decline somewhat less pronounced, 0.2%.

Housing starts and housing issuing of building permits in the United States also fell in February by 5.9% from the previous month, falling to 575,000 units annually. But with very bad weather that hit much of the country, analysts expected a sharper drop, to 570,000.

Good news in Europe

Reassuring news came from the rating agency Standard and Poor's.This continued Tuesday in the long term rating of BBB + from Greece and announced not to consider a decrease in the short term, but accompanied the confirmation of a negative outlook.

Moreover, in Brussels, the Finance Ministers of the European Union have "supported the evaluation by the European Commission to the budgetary situation of Greece", says European Commissioner for Economic Affairs, Olli Rehn.

The news has boosted European markets … and the euro. The European currency climbed from 0.64% to 1.3760 dollar.

The bank in the viewfinder

In all cases, caution is needed, particularly for the banking sector the most significant announcements of monetary policy committee of the Federal Reserve easy payday loans .Especially as yesterday, Democratic Senator Chris Dodd has introduced a text aimed at reforming American finance which seeks consensus. But he does not yet collect no Republican support. JP Morgan Chase (-0.20%), Goldman Sachs (0.66%) or Bank of America (0.71%) react in an uncoordinated manner.

On the side of values, PepsiCo (-0.14% to 66.06 dollars) announced after the close of Wall Street yesterday, up 7% of its dividend and authorized a new share repurchase 15 billion dollars before June 2013. This new program replaces the $ 6.4 billion, which expires next June.

Similarly, Limited Brands (Victoria's Secret, Abercrombie & Fich …) has announced a special dividend of $ 1 and approved a share repurchase of 200 million dollars.Securities climbed 4.43% to 24.77 dollars.

Also in the luxury sector, the parent company of Calvin Klein, the Philips-Van Heusen (1.64% to 53.30 dollars) announced yesterday the acquisition of the brand casual wear Tommy Hilfiger fund of British investment Apax Partners.

Google (0.53% to 566.16 dollars) could close its search engine or a part of its activities in China. The U.S. group would be safe "99.9%" to abandon its Chinese search engine, reported the Financial Times and the Wall Street Journal this weekend.

The results of FedEx (+0.21%) for the third quarter are expected Thursday. The numbers of specialist couriers are expected.They usually figure advanced barometer of business activity.

The record company Sony (-0.32% to 37.49 dollars) has signed a contract worth 250 million dollars to the heirs of Michael Jackson until 2017 to distribute new and derivatives of the "King of pop, died last June, the Wall Street Journal, citing sources familiar with the matter.

Submit a telephone number of young people living in small job and the homeless. Selling homemade chocolate while respecting the rights of producers of cocoa and employing people in rehabilitation. Eric Chatry, 42, associated with Francis de Pierrebourg, 34, and William Hermitte, 27, have one thing in common: they bring their expertise to the service contractor's office.

The first two have launched the Reconnect partnership that puts technology at the service of the poor and left behind. The third one created society Puerto Cacao, which has two shops in the 17th and 12th arrondissements in Paris.

Both projects are supported by the network Undertake Paris headed by Frank Hughes and chaired by Gonzague de Blignieres who is also chairman of the fund, Barclays Private Equity France.First association selected by the network, Reconnect has received a loan of Honor 25 000. Puerto Cacao 20,000 euros.

The three founders have followed a classic. Eric and William Chatry Hermitte graduate from ESSEC. Francois de Pierrebourg of the Institut d'Etudes Politiques de Paris.

The first worked for Danone, L'Oreal, McKinsey, LVMH. He changed his life and found volunteering in a nursing home for Catholic Relief homeless. The second was launched in the trade fair as it exits from ESSEC in 2006. The third familiar with the functioning of associations and social workers. He has been employed for 8 years of the SOS group is also involved in many drug addicts as ill-housed.

A socially responsible fund

All three have a common concern: they want to reconcile ethics and corporate social and economic efficiency.Eric Chatry which has received support from the State, the Ile-de-France, the Paris City Council and mayor of Bordeaux, is testing its new telephone service before launching a large scale. He circulated by associations that pays 10 euro per line per quarter. It creates a society that creates new services and new technology products for the most disadvantaged and filing patents. His research efforts could enable it to qualify as a young innovative company.

William Hermitte admit his difficulties to meet its commitments and requirements of investors who finance the development of its business.

Surfing on this new generation of social entrepreneurs, network Undertake Paris prepares to launch a socially responsible funds.This PIF "Value Undertake Ile-de-France" will take stakes of 50,000 to 300,000 euros in young companies winning network Entrepreneurship. "We want to mobilize investors by giving the honor to take the concept and entrepreneur," explains Gonzague de Blignieres. Investors in the FIP undertake to respect a very strict rule: they will not affect gains in companies which the fund has invested. These will support the operation of Entrepreneurship Network Ile-de-France. Further evidence that investors are willing to change the rules while refusing mere philanthropy.

Become a registered "lifestyle" is the ambition of leaders Lacoste for years to come. To do this they have developed the part of accessories in the total turnover. Therefore, the parent company, S. A. Lacoste, who does nothing but manage the image of the brand, decided to resume late 2010 the license granted to the leather Samsonite American for eight years to tell his historical partner, the French industrial Devanlay.

Devanlay, 60% of sales by Lacoste, through the clothing of crocodile license. Since the beginning, these two companies through interlocking shareholdings (Devanlay has 35% of Lacoste and Lacoste 10% stake in Devanlay) work hand in hand.Their goal is to increase the share of leather goods from 4% to 8% of total sales within five years.

"While we have almost 4 000 references per year just in the textile, when we ask a client to appoint a product is always the same means we have work," says Jose – Luis Duran, CEO of Devanlay, where he arrived six months ago, after having been boss of Carrefour. Polo, founded in 1933, sold over 13 million copies a year worldwide. But it represents only 20% of the income of the mark (1.5 billion euros in total wholesale rate).

The crocodile is diversifying

Clothing, which weighed 85% of sales in 2000, none reported more than 60%.Meanwhile, footwear (20%), perfume (15%, produced by Procter & Gamble) or watches (5%) took off.

In total, Lacoste has granted nine licenses for specific product categories in different industries. Latest: mobile phones, the company entrusted with ModeLabs, the first model will come in six months. To develop leather, Devanlay created a joint venture with a French specialist sector Tolomei.

Lacoste plans to continue this diversification. "We are in constant reflection on these topics, explains Christophe Chenut, CEO of Lacoste S. A.We look at the world of home and decorating, mobility with electric bicycles or bikes, we've already made a limited number of strollers with McLaren in the United States, but these ideas must pass through many filters and answer a requirement of internationalization. Each license must also help us recruit and retain a new category of customers. "Bags were well designed to feminize a mark at three quarters male.