Christine Lagarde put an end to speculation. On leaving the Council of Ministers on Wednesday, Minister of Economy announced that the bonuses paid in France by the banks for the year 2009 will be taxed at 50% from 27,500 euros. The France decides to follow the same model announced last week by the British government.
"This is a proposal had been President of the Republic August 25 last, much has campaigned for it to be internationally accepted. Now a British proposal and French and I will defend to Parliament in January, "said the minister.
Christine Lagarde also suggested that this "tax exceptional exceptional circumstances" would not be renewed. Information that had already been raised in the common platform of Nicolas Sarkozy and Gordon Brown, published by the Wall Street Journal.The measure should be included in a draft supplementary budget.
According Bercy, between 2,000 and 3,000 traders will be affected.
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Paris, Palais des congrès. This Thursday, the huge amphitheater, Pierre Gadonneix presided as expected its last general meeting of shareholders of EDF. Re-elected director of the group with 96.5% of the votes, Henri Proglio, already designated by the State, has been inducted as the new chairman of EDF. His appointment should be approved definitively by the Council of Ministers on 25 November. The person will thus serve as head of the electrical lights at the end of the month.
Henri Proglio Photo credits: AFP
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Before Christmas is the time for chocolate. While the cocoa harvest in full swing, the courses of the famous bean reach new levels. In New York, a ton is trading at historical prices, around 3 390 dollars per tonne, as in London where 2 150 pounds per tonne have been exceeded. A steep climb in a short time.
"In the lull of summer, we were only 1 400 pounds per tonne. The market has changed dramatically since the funds are interested. It is not uncommon to see variations of 8% in one day, "says Jean-Paul Burrus, president of Salpa family group, owner of Chocolatier La Marquise de Sevigne. "Previously, that happened only when the coup. But now, the market became very volatile and there are more rules.We need to cover by buying futures a year, "says the businessman who uses each year 1 000 tonnes of cocoa from Côte d'Ivoire, Trinidad or Venezuela.
Global consumption is around 3 million tonnes per year, representing 3 to 4 billion euros turnover per year. What makes cocoa the third tropical agricultural commodity exchanged most, behind sugar and coffee.
Several factors explain the high rating current cocoa prices. First of growing speculation. "Since late August, there is renewed interest in risky markets and hence for agricultural commodities, said Vincent Geiger COUTIER at New Edge. They have the attraction of funds, because they represent a good bulwark against the inflationary pressures in a recovery scenario and good coverage on the foreign exchange market.The currency in which they are denominated, the dollar and the pound collapsed. "
Tensions on the course
In addition, there are factors specific to the cocoa market. "For five days, a strike is raging in Côte d'Ivoire, the largest producer with alone one third of the world's cocoa, and it is unclear whether the country will produce the psychological threshold of one million tonnes. Enough reason for a little more tension on the course.
Demand side is the explosion. Celebrations New Year approaching. "We sell more than half of our chocolates at Christmas," said Jean-Paul Burrus. Furthermore, new players entered the market with a consumption curve exponentially. "With rising living standards, demand is increasing in China and India," says Vincent Geiger.In Europe, sales also rose, perhaps because of the crisis, chocolate is considered by many as the best antidepressant!
In fifteen years, the French consumption has almost doubled from 4 to 7.5 kilograms per year per capita. It is still a few bars of Swiss, European champions with 11 kg. But ahead of Italy and Spain, with only two kilos.
Finally, the greedy have to fear a surge in prices of the tablet or small box? Hard to say, for Vincent Geiger. This will vary from one industry to another, as was more or less well covered against the higher prices for financial instruments and is ready or not to trim its margins. Strategies very secret. The Marquise de Sevigne excludes any increase in the short term, being forearmed against this risk.In addition, prices are fixed for a long time for some commands, such as works councils.
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