Another sign of joy: the last quarter, growth in attendance is highest in restaurants with table service, where the addition is much salt in fast food, which represent 68% of visits and 44% total expenditure of the French.

However, the recovery is shy and sometimes chaotic. As a result, many professionals are choosy. "The first quarter seemed to promise a clear recovery this year.

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 revision of growth suspended at the top of the EU

According to the survey (1) conducted by the consulting firm in human resources, business plan for most occupational categories increased by 3% (median) budget increase (collective and individual), against 2.5 % in 2011. The exceptions are the workers (+2.8%) and senior (2.9%). But in any case, it would exceed the average inflation of 1.7% in 2012 by the government.

End of the wage freeze

Two major trends. On the one hand an almost complete disappearance of the wage freeze, a measure widely implemented at the height of the crisis.However, 4% of companies plan to freeze the workers and managers.

In addition, the company forecasts reflected the "sacrosanct" rate increase of 3%, which was applied during the years before the crisis erupted instant payday loan.

In addition, both groups seem to be emerging. First, the majority, has given the 3% salary increase. A second, more prudent, considering between 2.1% and 2.5%.

The survey was conducted between March and mid-July, ie before the great economic and financial events of the summer (crisis in the euro area, downward revision in growth for 2011 and 2012, falling stock markets …), Mercer, again, questioned 142 of the 329 companies in its original sample.

"Eight out of ten believe that these events will bring them to scale back their budgets for salary review.This reduction could be 0.5 point fall. In contrast, companies planning to date, a wage freeze, are still a small minority, said Bruno Rocquemont. In this context, we have to closely follow the mandatory annual negotiations (NAO), which launched just been given in some societies and that will continue into March. "

(1) survey of 329 companies, mostly French subsidiaries of multinational corporations.

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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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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Of the places in China, Hong Kong the Hang Seng 1.45% yield while the composite index of Shanghai Stock Exchange rose 0.68% to 1134.65 points. In Seoul, the Kospi index is left in the green, up 0.71% to 1819.14 points after plunging by 4% in early trade. The Stock Exchange of Sydney, in turn, close to equilibrium after a session spent in the red.

Investors remain concerned, however, fearing another recession in the United States and a spillover of the crisis of debt in the eurozone one hour payday loan.The gold and reached new records, crossing first the maximum 1800 dollars. It was worth 1814.50 dollars in the morning before going down to 1785 dollars. Another safe haven, the yen appreciates, and is worth 76.63 dollars, against 76.83 the previous day.

Oil also set off again down in Asia. Yet he had resisted the panic the day before with the announcement of a dramatic and unexpected decline in crude inventories in the United States. In morning trading, a barrel of "light sweet crude" lost 79 cents to 82.10 dollars and that of Brent North Sea fell by 1.10 dollars to 105.58 dollars.

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In the wake of the Asian stock markets, down sharply this morning, the benchmark index in Paris has started his week on a further decline (-0.74%), but avoid the dreaded crash in the markets.After a brief stint in the green, he never stopped to dig its losses since mid-day. Around 16:30, while Wall Street sinks into the red, the Cac 40 falling 4.14% to 3142.99 points, its lowest level since July 2009. The nervousness and volatility are the watchwords of the meeting. It has traded more than 4.2 billion euros on the CAC to 16.30.

Even renewed concern elsewhere in Europe. In Frankfurt, the Dax and retreated more than 4%. Less for London where the FTSE 100 lost more than 3%. The Swiss stock exchange plunges 3.19% to 5007.18 points. The Milan Stock Exchange falling more than 2.5% in the wake of Wall Street

Relaxation rates in Spain and Italy

Yesterday, Angela Merkel and Nicolas Sarkozy reiterated their determination to ensure that the bailout of Greece on 21 July be adopted before the end of September.They also praised the efforts of Spain and especially those of Italy, two weak links in the euro area at present. Indeed, Rome has advanced by one year (from 2014 to 2013) the goal of return to balance its accounts. In addition, the European Central Bank (ECB) said it would implement "active" its buyback program obligations. This measure, taken and announced last week by Jean-Claude Trichet, president of the institution, had absolutely convinced investors. On the contrary … But this morning, the Italian and Spanish bond yields relaxed, investors are more confident in an intervention by the ECB on the secondary bond market in both countries. Rates in ten years Spanish and Italian are ironed on Monday under 6%.Relaxation is expected to continue, while the French Minister of Economy and Finance Baroin confirmed on Europe 1 that the ECB was ready to buy the Spanish and European debt, if investors withdrew.

American borrowing rates have, in turn, not move, indicating that the debt of the world's largest economy remains an attractive investment, against the loss of the triple A of the United States.

Next on the list?

However, uncertainty should remain in force on the European markets at the beginning of the week. The decision of Standard & Poor's in the United States continues to claim haunt the minds of the markets, despite a weekend to "digest" the news.Now that the world's largest economy, long considered one of the most reliable borrowers, is not as well marked, which could consider itself safe from degradation? In France, this concern should be limited, however, the chief economist for Europe, Standard & Poor's Jean-Michel Six, who said Saturday that the agency maintained the "AAA" of France, in a stable outlook.

The announcement of the ECB on repurchase of bonds was initially supported the euro against the dollar. At 7 o'clock this morning, the euro was worth 1.4321 dollars, against 1.4281 dollars on Friday night, after the dollar rose to 1.4370 on Sunday night.The European currency is, however, decreasing again around noon to 1.4268 dollar.

But above all concerns macroeconomic benefit to gold, which recorded a new record Monday on the market in Hong Kong, dying for the first time the maximum 1700 dollars an ounce, and benefiting fully from his safe haven status.

The sharp drop in oil

Instead, the side of the oil, oil prices continued to tumble on Monday. Result of numerous concerns about a possible global recession, prices show a sharp decline. To 13 hours, a barrel of "light sweet crude 'lost 3.64% to 83.67 dollars.

Finally, the political mobilization should remain in force throughout the day, and guide the trend in European markets as U.S.. For the side of the macroeconomic data, the news will remain low in the first day of the week.Unlike last week, no statistics across the Atlantic will not give further details Monday about the health of the U.S. economy or the risk of a possible recession in the country. In France alone were expected business surveys of the Banque de France, unveiled on Monday its growth forecast for the third quarter. For the period, the institution expects an increase of 0.2% of French GDP, the same pace as in the previous quarter.

As for values ​​to follow, business publications are scarce this week.

Battered last week after interim results affected by exposure in Greece, banking stocks were offered a nice rally this morning before falling unevenly mid-term.BNP Paribas wins again in mid-session, 1.01%, to 41.025 euros, but Credit Agricole (- 0.27% to 7.14 euros) and Societe Generale (-2.95% to 26.625 euros ) drop out. For its part, Axa sells 1.13% to 11.425 euros. The insurer CNP Assurances is however still 3.02%, to 12.265 euros, the head of the SBF 120 index increases by mid-day.

Peugeot (-7.45% to 20.745 euros) and Renault (-6.95% to 29.125 euros) recorded both the largest declines the CAC 40. The two automakers are penalized by the broker Morgan Stanley lowered its price target on the two values. Alcatel-Lucent also drop 6.66% to 2.298 euros. Technip meanwhile lost 5.97% to 58.71 euros.

The manufacturer Archos tablet that will detail its annual accounts after market, accounts 4.77% to 8.35 euros this morning before falling heavily to 6.78% to 7.43 euros.

Carmat (5.56% to 98.70 euros).The total artificial heart specialist said on Sunday evening the success of its capital increase launched from July 13 to 29. The former subsidiary of EADS has raised 29.3 million euros, which will fund the first clinical trials on humans.

GDF Suez (0.73% to 20.56 euros). The group of energy and services has sealed, according to Les Echos, a strategic Partenaris with the Chinese sovereign wealth fund CIC, which would lead to an acquisition of a 30% interest in the exploration and production arm of French.

Specialist catering Sodexo (-1.84% to 49.075 euros) announced that it has won a contract worth 766 million dollars (535 million) to provide the basics of feeding twenty Marines, the United States.

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According to our information, features Jérôme Bellay in the day of the seventh day of the Lagardère group is expected to exceed the strict framework of the chief editor. He should be appointed as director of next September. Faithful group Lagardère, Jérôme Bellay it now runs the production company Maximum.Founded in September 2000, Maximal Productions (a subsidiary of Lagardère Entertainment) produces reports, documentaries and magazines for information and knowledge, which the magazine "C in the air" presented by Yves Calvi on the channel France 5.

Olivier Jay was received by Lesouëf Bruno, the CEO of Lagardère Active magazine, and Denis Olivennes, the new head of group media information center (Europe 1, Paris Match and Le JDD). Its future within the group is not yet known. Neither Lagardère Active or Denis Olivennes have commented on the desired information.

Le Journal du Dimanche, which opened a new formula on March 6, saw its circulation fall by France paid 13% in the first quarter of 2011 compared to the same period in 2010, according to OJD, reaching 233,445 copies.The change at the head of management to allow, according to sources familiar with the matter, to give "even more attractive to breath and JDD to be a major news magazine seventh day."

According to the draft filed Friday with the U.S. authorities of the Exchange, the company plans to raise $ 1 billion. It already has shareholders including Mark Pincus, CEO and founder (16%), Kleiner Perkins funds (11%) and Institutional Venture Partners (6.1%), Russian DST also present in Facebook and Groupon (5.8 %) or Reid Hoffman, co-founder of LinkedIn. Only part of the capital would be put on the market. The document does not specify the timing or the valuation of the company.Its shares traded, however, already on the gray market at a valuation of $ 20 billion. Other estimates place it at $ 15 billion.

A destiny linked to Facebook

Therefore, these amounts bet on the growth of highly profitable business model. Zynga pulls up the majority of its revenue from the sale of virtual goods, while just over 5% comes from advertising. In 2010 it sold its games for $ 839 million of tractors and apple virtual pixels. The turnover of the editor, who must pay back a 30% commission to Facebook for hosting games and payment management through its Facebook Credits, reached $ 598 million.Its net income totaled $ 90.6 million for the year.

The rise of social networking takes Zynga and sales: in the first quarter of 2011, it jumped 133% to account for 235.5 million dollars in revenue. Some analysts place and the turnover of the company in 2011 to nearly $ 1.5 billion.

But this success Zynga is intrinsically linked to that of Facebook. "If we fail to maintain a good relationship with Facebook, our business will suffer," admits the company. A change of terms and conditions of alienation or social network users to the site and will impact directly the activity of Zynga. Another challenge for start-up: it must successfully implement its business model to success in the mobile, from which a growing number of users connecting to Facebook.Finally, the majority of revenue is generated by Zynga a few games. To sustain and develop its income, the publisher could therefore benefit from its IPO to buy competitors. The company already has $ 995 million in cash.

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LE FIGARO. – What place in the Blackstone private equity?

Stephen Schwarzman.- We are now the biggest investor in the world with $ 150 billion of assets in private equity, real estate, hedge funds, junk bonds, credit … The 67 companies are now owned by Blackstone 129 billion dollars in sales and nearly one million employees. In size, we are the seventh largest U.S. company. Our approach is truly global, which allows me to be pretty confident.

So you're satisfied with the current situation?

Whether in Asia, emerging markets, North America and South America, three quarters of the countries where we show good growth. Only Europe is growing more slowly, is withdrawn, even if there are major differences between Germany, very dynamic, and the countries of Southeast Europe, which are much less.It is a very good time to invest, especially in countries or sectors where we are still in early recovery. Especially as interest rates remain very low.

In what areas do you invest?

In real estate, we are very active in the United States. There are also a lot of opportunities in energy, in natural resources, security of supply, optimization payday lenders.

It accuses the fund to achieve good performances with the lever of bank debt. What is it?

Twenty-five years, we post an average return on investment of 13% over the evolution of the equity indices over the same period. It's a lot, and this performance is due mainly to the originality of our business and our know-how. When we buy a company, we are implementing a strategy for accelerated development.We ensure that management implements this strategy. Alternatively, and unlike listed companies, we do not hesitate to change the management if necessary. Another feature: our managers are not under the pressure of quarterly results. We can have a more long term. Blackstone also has many experts in marketing, finance, information technology … we send to companies to improve performance if necessary. The use of leverage comes after these few key success factors.

The financial crisis did she not question this model?

Contrary to what some have predicted, there was no more bankruptcies among businesses owned by funds from other companies. This has surprised everyone, except the private equity specialists.During this period, Blackstone has recorded no failures in its portfolio.

What is your rate of investment in 2011?

We will probably invest 11 to 12,000,000,000 dollars in private equity, real estate and credit. This amount is considerable. With debt, that's about $ 50 billion investment.

How do you see Blackstone in ten years?

In ten years, I do not know. But for the next five years I hope to be able to double or even triple our size. It is a beautiful period for Blackstone.