February 26, 2012

Murdoch, the cons-attack

The Rupert Murdoch's private jet touched down at Luton airport, north of London on the evening of Thursday, February 16 fast cash advance. The Australian-American magnate of the press has laid down his hat at his residence in Mayfair and taken from …

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February 24, 2012

Lefigaro.fr sign a record audience

 

Lefigaro.fr is the first news site in France in January. The study Médiamétrie / NetRatings, it was viewed by over 8.8 million unique visitors a month. A hearing is always the historic site of Figaro to a million users of the follower.

Development, the second place, occupied by Orange in December, was conquered by the Nouvel Observateur. High of 7.7 million unique monthly visitors, the site of the weekly benefits from the integration of "pure player" Rue89, bought in December.

Launched in late January, the site of the Huffington Post has also brought new visitors to the World, which brought together a total of 7.3 million Internet users in January. The web offers daily evening was nevertheless made the steal third place from the site of Le Parisien / Today in France, with nearly 7.5 million unique visitors.

January has generally drawn the hearings of the press line up. Portals and aggregators of articles edited by tech giants have, themselves, not take advantage of the French appetite for news. Orange News was relegated to sixth place in the ranking with 6.7 million unique visitors, Yahoo! News is eighth with 5.4 million visitors, MSN News and Google News are respectively the 11th and 13th.

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February 22, 2012

Anonymous attacks the recruitment

 

Anonymous France would he have recruitment practices one of his new fighting? A video posted in early February and reported by lexpress.fr, claiming the nebula Anonymous proves highly critical of the charge of recruitment, human resources services (HR) and employers. The still image of a character in costume, adorned with the famous mask of Anonymous, a monotone delivers his diagnosis.

Lamenting that "two years ago, many young French Bac +5 level does not find a job", the video points to "incompetence, lack of respect and lucidity" in charge of human resources. "They infer the competence of a person sometimes in five minutes flat, indignant Anonymous. We do not accept that these people are the life of a person on a gamble. "  

However, the movement wants to believe the source of this video, those responsible for recruitment "have the key to making this country better." "Help your young people while they are still in the street. [...] Hire priority unemployed or long-term average, "argues the video cash till payday. If the message goes further, suggesting recruiters to stop hiring young people leaving school, their preference for those already looking for work, the criticism of recruitment practices is not isolated.

Humiliations

Last October, a documentary by Didier Cros broadcast on France 2, The Maw of employment, was pointing drifts specialist firms. Candidates humiliation, discrimination, displacement of people deemed overqualified … The documentary had sparked outrage many users and an outcry from the profession, which does not recognize in the pictures released.

A surfer had even created a dedicated website, distributing addresses and telephone numbers of recruiters calling filmed and Web users to "tell them home truths." A formal notice had forced him to withdraw from its site the personal data contained therein.

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February 20, 2012

The Court of Auditors is expanding its field of action

 

It was two years ago: Didier Migaud took the head of the ECA. To succeed Philippe Seguin, Nicolas Sarkozy had chosen to appeal to an elected Socialist President of the Finance Committee in the Assembly. This appointment, under the sign of political openness, is one of the many developments that have marked the Court in recent years. Developments that have strengthened its role. The Court of Auditors is not content to publish its annual report in February, far from it!

Thus, since 2008, the magistrates of the Rue Cambon – named by reference to the Paris address of the Court – control the accounts of the Elysee. Jean-Pierre Bel, the President PS Senate, has asked that the same is true for those in the Senate. As for the accounts of the state (ministries and parastatals) and the general scheme of Social Security, they are "certified" by the Court of Auditors since 2006, which ensures reliability.

Another innovation of the last ten years: the increased collaboration with the Parliament, which may apply to the Court of audit reports on specific topics. In 2011, the report pointing to the overhead of merging the two directions of taxes at Bercy has been commissioned by the Senate Finance Committee. The Court of course retains the right to set its own agenda. It was she who chose for example to control the works of the RATP.

Assessing the economic policies

Since 2008, the magistrates of the Rue Cambon must also evaluate public policies. A new mission that leads them to act outside of the public sphere. "For the assessment of biofuels policy, we asked private companies, including Total, PSA, Renault, etc.. Our contacts have proved available, so that legally, nor was it required to answer our questions, "Christian witness Descheemaeker, president of the Seventh Chamber (specializing in transport, environment, agriculture), and Arnold Migus and Paul-Henri Ravier, Senior Councillors.

Adversarial proceedings

Also in evaluation, the Court can work with Parliament. This was the case on the report on accommodation for homeless people. "We attended the hearings conducted by the members and we sometimes went into the field with them," says Anne Froment-Meurice, president of the Fifth Chamber (specializing in employment, excluding the city), Michel de Virville, Senior Member, and Marie-Christine Butel, rapporteur saving account pay day loan.

Each time, whether measurement or control, the Court respects adversarial proceedings. Controlled organizations have a right of reply that is built into the reports. Furthermore, the authors of the reports have their work checked by other members of the Court, at hearings in private. "We are on the grill for half a day. But it is very informative, "says Marie-Christine Butel, rapporteur. This is especially a more reliable, which explains the reputation of this institution created in 1807.

Four positions within the State:

1. Control the public sphere. The Court of Auditors checks the state and its satellites, Social Security, public enterprises and organizations using public donations. The regime of the entertainment or the Bank of France were pinned in its latest annual report. The court also publishes thematic reports during the year, like the Franco-German taxation. It enlightens the public debate by giving their views regularly on the state of French public finances. The regional audit control, they, the management of local authorities.

2. Certify the accounts of the State and Social Security. Each year, the Court of Auditors certify that the accounts of the state and the general scheme of Social Security are "regular, honest and fairly." In short, it ensures that the methodology makes these reliable accounts. France is, with the United Kingdom and the United States, one of the few countries where an independent authority certifies the accounts of the state.

3. Judging public accountants. The Court of Auditors and regional chambers judge public accountants for their sins. They can condemn them to fines or impose "Debets," that is to say force them to repay the expense paid irregularly or not the recipe recovered by negligence.

4. Evaluate public policies. The Court of Auditors assesses whether a given public policy – eg biofuels policy or the accommodation of homeless people – is achieving its objectives. It is then brought to question government but also private companies.

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February 19, 2012

"Think of the transmission from the fifties"

 

Le Figaro Magazine – The French do they transmit their heritage better than ten years ago?

Master Bertrand Savouré – For ten years, the legal framework has changed a lot. The French have more tools to prepare their estate, they must be tamed. The influence much the tax aspect. Yet, what matters is not only to capture a tax benefit, but to build, in good fiscal conditions, a smooth transmission. And this is increasingly true, because the transmission is initiated earlier.

When should you consider to be transmitted?

It's a long process. Begin to consider middle age seems a good idea.

Might there be not later regret some choices?

The French are willing to give, but they want to change their minds. Solutions exist. A gift, except between spouses, is not revocable, but we can ensure its revision, with the agreement of children. One can, for example, to reserve the right to change the property that was given.

What opportunities should be better used?

It is possible to think otherwise its transmission. For example, jumping a generation, children can waive their share to their own children. The spouse may also, if it inherits a time when he did not need all the goods, give up some of them for children. The legislature has given much freedom to organize the transmission of a heritage. But these opportunities need to be framed so as not to undermine the rights of heirs, and therefore the entire transmission.

What do we gain by skipping a generation?

Take the case of a father with a wealth of € 1 million he wants to send her two children. If he gives 500,000 euros to his son and as his daughter, the gift tax amounting to 164,000 euros. If his daughter renounces his share to his two children, the rights will be only 150,000 euros. And the tax savings will be even higher if it has a heritage to pass, it will remain intact while the allowance per child.

What should I watch?

We must strike a balance between the parties. Attention also to consider life insurance. The beneficiary designation must be consistent with what we want to do globally. * Rapporteur of the 108th Congress of Notaries to be held in Montpellier in September.

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February 18, 2012

SNCF plans to buy 40 new TGV

 

'Good and promising' are the words chosen by the president of the SNCF to describe the annual results of 2011. SNCF Group which has seen its turnover increase by 5.8% at constant exchange rates to 32.6 billion euros, however, has generated a modest net profit of 125 million euros against 697 million euros in 2010.

The company has indeed made an impairment of 840 million euros, 700 million under its TGV. "We hoped that there would be no further increase in 2013 of tolls to maintain the value of our fleet of TGV trains, said David Azema, the deputy director general strategy. But between 2012 and 2013, higher tolls for the TGV will reach 7% and represent a charge of 130 million euros more. "

SNCF points between 2008 and 2011, the total amount of tolls paid to Réseau Ferré de France has reached 500 million euros. It is on rail network SNCF of France that puts the responsibility of a net cut of several hundred million euros.

But since the publication of the rising bill for 2013, the situation has apparently subsided between SNCF and RFF. The latter, manager of the rail network, pledged Thursday, February 9 that the evolution of tolls over five years (2014-2018) is equivalent to the "inflation rail" increased by 0.3% maximum. This jargon reflects the inclusion of more parameters (increase maintenance costs, the price of copper and steel …) to secure an annual inflation rate specific to that activity. In 2011, inflation reached 5.8% rail.

The horizon cleared and allowed Guillaume Pepy to "open a discussion at the Board on the possibility of exercise of options on up to 40 trains Alstom", says, carefully, the president of SNCF. Clearly, the station is considering replacing its older trains when she refrained so far to discuss the purchase of oars, each unit costing 30 million euros.

The SNCF president stressed that his group was able for the first time since 2007 to reach a positive cash flow: EUR 261 million in 2011 due to good performance of the branch Infra – which carries out maintenance and maintenance – and the Near branch which includes TER and urban transport. However, SNCF Geodis has consumed nearly 500 million euros in 2011, in particular the rail freight business. Another black spot: the debt – reduced by 170 million euros in 2011 – still exceeds 8 billion euros and should remain as high in 2012.

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February 16, 2012

Tax: the false solution of withholding

 

In almost all developed countries except France, Switzerland and Singapore, the income tax (IR) is taken directly from the paychecks of household, month after month. This system called "withholding tax" has two advantages: it makes life easier for taxpayers and allows the State to recover almost certainly the tax due, and it regularly.

France should she finally opt for this system, after several failed attempts? Francois Hollande has thought before abandoning the project too. The latest study on the subject of compulsory Council (OAC), an organization linked to the ECA, rather gives reason to critics of the withholding tax. "Some of the arguments advanced in favor of historically withholding their lost weight," said Wednesday, during the presentation of the study, Didier Migaud, the first president of the Court of Auditors.

Indeed, 73% of monthly paid by French taxpayers are now: they pay their IR month after month. Payment is made by monthly installments or third provisional, in 90% of cases it is done electronically (direct debit transfers). The tax return has also been improved, many are now pre-filled boxes. In short, the taxpayer, the French system is relatively simple to use. And the withholding tax is not a panacea: the taxpayer must file a tax return and having to adjust to the tax the following year.

Another consequence of modernization introduced in France, the tax already covers very well the IR, to 99%.

The withholding tax would actually an advantage for the French: they would pay a tax based on income of the year. Currently, households that see their revenues decline, due to retirement, unemployment, divorce, have to pay high taxes compared to their resources in the year, this tax is computed on income, best, of previous year. 30% of households fall into this category each year.

But the CPO believes that this problem can be solved without going through the withholding tax. It is already possible in France to modulate its monthly installments or obtain payment periods, in case of declining income no faxing payday loans. Would require the IRS to better communicate on these facilities, says the CPO.

Costs for the company

The tax could also opt for the taxation of income during the year: the deposits paid in taxes would be calculated on the estimated income for the year. There would regularize the following year, when revenues definitively known. This system would have an advantage over the withholding tax: the company would not be involved in tax collection.

Indeed, if the direct debit from paychecks, the employer is the tax collector. It can even be the one to calculate the total revenues. In the latter case, he knows if his employee receives other income from savings or property, and he knows the wages of their spouse. Besides the privacy issue, this can affect wage policy – why increase someone whose spouse is very easy? This design maximum role of enterprise is rare and only affects Canada. It remains true that the withholding tax involves costs for the company, from four to two hundred euros a year in different countries.

Anyway, switching to the taxation of income of the year it takes place via the IRS or the withholding tax levied by the company, is a problem, that of the transition year. Could not ask taxpayers to pay that year double tax on the earnings of the year and those of the previous year.

The solution most often proposed is to cancel the tax assessed on the income of the previous year. An acceptable solution since in practice the tax authorities would not suffer any break in the perception of the IR. But at a cost: it would continue to grant tax benefits (employment at home, gifts …) on revenues of the previous year. The bill would be 5 to 10 billion euros calculated the CPO. Not very appropriate at this time of fiscal crisis.

With regard to the withholding tax, "the balance tips towards more disadvantages than advantages to," said Didier Migaud.

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February 15, 2012

Europe: Moody's puts a chill on the markets

 

The markets had started the week well, reassured by the Greek Parliament's vote on the austerity plan. They returned Tuesday afternoon, after the warning from Moody's in Europe. Stock markets have plunged into the red, led by falling bank shares, and was displayed in the euro down against the dollar.

One month after the degradation of France by Standard & Poor's, the rating agency threatened the U.S. "AAA" from France, Britain and Austria. The scores of these three countries are placed on negative watch because of persistent difficulties in the euro area to overcome its institutional and financial crisis. The failure of growth is also invoked by Moody's to be justified.

Italian debt insensitive to the warning

No pity for the debt crisis in Southern Europe, Moody's has further degraded the notes of Spain, Italy and Portugal. Chastened, the European bond markets have cashed the news without panicking, but they have not escaped to higher yields on Tuesday afternoon. The French rate to ten years and have gained 3 basis points to 2.9%, while German yields relaxed to 1.89%, increasing the "spread" – away – from borrowing rate between the two largest countries in the euro area. Despite the success of a bond issue of twelve and eighteen months, Spanish rates were also up to 5.23%. Yields Portuguese are stretched to 11.17% for the ten-year bond.

Italian debt only showed himself indifferent to the warning from Moody's. The cost of borrowing from Italy to ten years was down to 5.53% Tuesday. Outside the euro area, debt UK, for the first time put on negative watch, also recorded a decline in performance.

Action by central banks

If bond markets are resistant to warning shots rating agencies, it is through the action of central banks. The Bank of England does not hesitate to use his printing money to buy British debt in the secondary market. The European Central Bank (ECB) proceeds differently: it offers to banks in the euro area unlimited liquidity cheap so they are refinanced without penalty, and take over the debts of their countries. This is what traders have dubbed the "Sarko trade". Spanish banks have become champions at this game today, the markets will have their eyes on the growth figures for the fourth quarter of 2011 in France, Germany and Italy. The decline of industrial production recorded in the euro zone in December does not bode well. Moreover, the Eurogroup meeting on Greece will be held by telephone, which is not very good sign for those hoping for a quick release of EU funds.

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February 13, 2012

Greece will hold early elections in April

 

The day the government in Athens are counted. His spokesman has announced that parliamentary elections will be held in April in Greece. The announcement comes as tensions between Greek citizens and their representatives is at its peak. Sunday, when Parliament voted a new austerity plan, more than 100,000 people protested in the streets of Athens and Thessaloniki.

The current government of national unity, led by Prime Minister "technical" Lucas Papademos, was established in November 2011. It must fulfill two objectives. First, negotiate a new loan of 130 billion euros with the International Monetary Fund (IMF) and the European Union (EU), extending until 2015. Then, to complete negotiations with banks to restructure the public debt.  

"This government has one month to six weeks of work ahead of him (…) we will finish in March (the loan and debt restructuring) and elections will be held in April," said the spokesman . The mandate of the current government could technically last until October 2013.

In this context, international institutions are seeking assurance that the commitments of the current government for more rigor will be extended beyond the elections. The EU and the IMF therefore call for a written commitment of party leaders to prove their determination to carry out the reforms demanded in return for aid. They "must be given by Wednesday," said the spokesman.

The current political atmosphere tends to elections approach. The extreme right wing party, LAOS (16 deputies), left Friday the government because it refuses the new austerity plan. This text also caused the defection of 20 members from each of the other two coalition parties, PASOK (Socialist) and New Democracy (right).

Tensions did not begin this weekend. As reported in Le Figaro a government adviser, mid-January, "most departments have turned into campaign offices, it's against-productive. The Prime Minister must be permanently restore order among its 49 ministers who are killing. " And the necessary reforms have stalled.

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February 12, 2012

All leases are on the web, but at what cost?

 

After the real success of online shopping sites like eBay, PriceMinister, or the Bon Coin, the new trend is for rent on the Net. Many small e-rental sites, as Zilok, Goopes or Consoloc, abounds on the Web, reflecting the popularity of the French for "eat smart", or just how to use a product when it is needed. Today, the market leader and pioneer in France, e-rents, Argus publishes the first charter, based on tens of thousands of locations identified by the site for three years. "The Argus does not set prices, it indicates to users who have no idea of ​​the rental value of their purpose, how it can be rented and how it can bring," said Alexandre Woog, the founder of a start-up incubated with HEC.

So a bike is rented 10 euros per day, a barbecue 8 euros, 5 euros a vacuum cleaner, a hair remover 10 euros, 30 euros a stereo, a battery 45 euros, a snowboard 7 euros, 25 euros a cement mixer, a road car 55 euro, 1 euro a puzzle, etc.. The list is not exhaustive as rental properties are varied and sometimes unusual: there are spy cameras, to strip bars, disco buses, limousines, and even goats to 10 euros per day, to unravel his garden!

The concept of "collaborative consumption"

Woog Alexander, the founder of e-rents, will export its online rental site in Europe.

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