The virtues of rental real estate are well known. This is one of the only investments that can make on credit to build wealth. It is also a good way to prepare additional income for retirement. Finally, it is a way to accommodate her children or send them a valuable asset to start in life. However, the life of landlords is not a bed of roses! Some trace their route on this road winding and sometimes treacherous.
This is the case of Vivian B., 57, teacher. This Lyonnaise conducted between 1991 and 2010, three rental investments in his city. "I spaced each acquisition a decade, the time each time to pay off my credit. I always chose the studios in the IVth arrondissement of Lyon, an area popular.The lease payments used to pay me a portion of the loans, but each time I had to add 100 to 150 euros a month, "she says. Handyman, Viviane never hesitates to restore its apartments, it manages solo. Another "trick" by Viviane: the choice of holiday rental. "This formula provides short leases, or a year. Thus, it is easier to separate from a deadbeat tenant. "
1500 euros of additional income per month
For her, the acquisitions will stop, "because this investment is not worth the shot," given the rise in property prices in particular. "Every studio brings me 6%. But if I bought the same day, the yield would fall to 2.5 or 3%. "Soon to retire, Viviane Heritage is satisfied that it has formed. "My pension should be around 1.300euros month.
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"One might think that more French people remained in the Hexagon this summer, which took the train," says David Azema, the Chief Operating Officer of SNCF responsible for the strategy. Between July and September, sales of the travel industry group, which includes the TGV and international routes operated by joint ventures (Thalys, Lyria …) jumped 8.7% in the summer of 2010. Since the beginning of the year, its sales rose 7.1% to 24.19 billion euros, up 5.2% at constant scope and exchange rates.Sales since the beginning of the year is progressing in all areas.
Near the branch, which includes regional trains and also houses Keolis, a subsidiary of public transport, has become the main contributor to the SNCF group with a turnover of over $ 9 billion over nine months, up 6.5% compared to last year. "Proximity" of benefits including state aid to bail out the trains balance of the territory (TET), these unprofitable lines that the state has agreed a year ago to subsidize.
"We are doing better in all branches thanks to the improvement of agreements signed with Réseau Ferré de France, for which the branch Infra work more profitable, but also with the state as part of the TET, said David Azema. Because trains balance of the territory we had last year a loss of 210 million euros.This year, we charge the revenues of the State by this convention. "
A flat on the side of freight transport
However, a shadow appears on the side of freight transport. If SNCF Geodis displays a nine-month increase of 3.8% of its turnover, the logistics sector was down 1.1% in the last quarter. "The activity of Transportation Commission, which worked very well, has declined by 8.7% during the last quarter which is a measure of slower traffic flows between Asia and Europe," says David Azema.
This performance should enable the group to achieve its margin, its leaders do not want to reveal.
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The "outstanding contribution to the very high income" will not remain as is. Originally the government planned to implement from 2012 a new levy of 3% of the income exceeding EUR 500,000 per year and revenue per unit. It is this threshold in the draft budget law presented Wednesday. But Sunday, the budget minister, Valérie Pécresse, said she was open to a compromise with legislators, who for several weeks argue for a lower threshold.
In fact, the government is prepared to accept that the tax is triggered from 250,000 euros per unit. The level advocated by the current UMP Presidents of the Assembly and Senate, Bernard Accoyer and Gérard Larcher. "This is a good level of understanding," they say in the entourage of Gilles Carrez, the rapporteur UMP budget to the Assembly. The draft budget law will be amended in October this.And review, the tax will yield € 300 million to the state, instead of 200 million. It will affect 15,000 to 20,000 homes in 5000 to 10,000 against the original.
Specifically, if the amendment passes, the contribution will trip from 250,000 euros in annual revenue for a single and EUR 500 000 for a couple. For now, it is expected that having a child or children shall not be entitled to any share in the calculation of the contribution.
Regular income concerned
Another difference with the Income Tax (IR): the contribution of 3% apply to "income tax reference." This "reference taxable income" includes wages, but also dividends, interest, capital gains and estate securities short, capital income. "This makes the contribution on very high incomes more effective than the creation of an additional 45% of IR.Indeed, the IR is such that capital income would escape taxation at 45% and would remain taxed at 19%, "said Gilles Carrez.
The government hoped that only households with high incomes are regularly taxed. This is to prevent a dealer who sells one year his business pays the contribution. For this, the income taken into account for the outbreak of the tax will be calculated as an average over three years. This will be discussed, Gilles Carrez wanting only the capital gains are smoothed over three years. The contribution should go out when the deficit below 3% rise in GDP, that is to say in 2014. But many outstanding taxes have been made permanent …
From our correspondent in Berlin.
The green wave that swept across the Rhine after the disaster atomic Fukushima is a capitulation to the first industry group. The German industrial giant Siemens has given up on Sunday at his activity in the nuclear dead end since it considers the abandonment of the atom civilian in Germany. While Berlin has decided to close the seventeen German nuclear power plants by 2020, Siemens decided to enroll in the federal government's strategy and to strengthen further in the field of renewable energy.
"Chapter nuclear ended for us," said Peter Löscher, CEO of Munich, the weekly Der Spiegel. "We are more involved in the total management of the construction of nuclear power plants or in their financing.In the future, we will continue to deliver conventional parts, such as steam turbines (…), found also in the central gas or coal, "he said.
After the emotion aroused in Germany by the catastrophe of Fukushima, the German government decided in March to immediately stop the older reactors and then condemn others by 2022. "That changed things for us," acknowledged Löscher. Prudent, he was one of the few in Germany in 2010 not to sign an open letter from the heavyweights of the German economy demand a longer duration of use of nuclear power plants. Löscher called a "project of the century" turn energy taken by Germany. And he considers attainable goal to move to a 35% share of renewables in the "mix" German in 2020.Siemens, diverse group in the transport, household appliances or medicine, is already a world-class champion in wind energy.
The decision seems even more logical that Siemens has never been lucky in nuclear energy. In 2009, the Munich group was forced to announce his break with the French nuclear group Areva and sell its stake, amounting to 34% of shares in the subsidiary Areva NP reactor. Sued for breach of its contractual obligations, Siemens was ordered to pay 648 million euros of interest to Areva.Unable to further develop this cooperation because of political opposition on the part of France, Siemens had preferred to turn to Russia and had begun discussions with Rosatom in March 2009, in a context of international nuclear renaissance.
Bill up 10%
Sunday, Löscher also bury the proposed joint venture with the Russian public group in the Rosatom nuclear. "Both groups are still very interested in a partnership. But it will focus on another area, "he added.
The abandonment of the German nuclear announced dealt a severe blow to major energy companies across the Rhine. While their foreign competitors reaping profits, E. ON and RWE, the two main operators of nuclear power, have announced plans for cost savings and layoffs.Germany is now reduced to importing nuclear energy produced under safe conditions, in neighboring Czech Republic. Result: the energy bill has increased by 10% in a few months.
Lefigaro.fr – Can we say that Kweku Adoboli is "the new Kerviel"?
Frederic Boulier – It is true that there are many similarities with the Kerviel affair. The amounts are lost in the same order of magnitude. Jerome Kerviel lost 4.9 billion euros at Societe Generale, but before the "unwinding" of his positions, the loss amounted to 1.5 billion euros. In addition, two young traders of thirty years who do not leave the harem and who have a priori not studied mathematics attacks.If such solutions were introduced to Jérôme Kerviel, the fraud was detected nine months in advance.
The laxity of financial institutions will he accelerate the reform of British banking system?
I do not see because the British government stand by to this new fraud. Today, a single trader can place a financial institution to its knees if there is not an effective risk control upstream. It should probably expect the introduction of special measures to strengthen the role of authorities to monitor the control of financial institutions.Since the Kerviel affair and the "subprime" mistrust vis-à-vis banks is clearly went crescendo.
Why banks have not they learned from the Kerviel affair?
It is difficult to generalize and say that the lessons of the Kerviel affair were not included. This is not the financial system is to question, even if it is true that there are likely other fraud of this magnitude. Moreover, according to statistics, there are all two or three years. We can not avoid all financial frauds. However, one can detect some with software solutions that I advanced earlier and limit losses to a few million or tens of millions of euros.
Is it the fabulous bonuses which encourage traders to take risks as important?
It is true that greed can push market participants to take some unnecessary risks. But in 99% of cases of fraud, be aware there is no direct personal gain. Traders are sometimes victims of runaway losses due to the desire to "chasing" in the jargon of traders.
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»IN PICTURES – The largest financial fraud
Competition without doping and full of uncertainty is the best guarantee of a successful Tour. In France Televisions, one welcomes the improvement of the hearings provided by the Tour de France 2011. The latter was successful, according to Médiamétrie, peaking at 8.5 million viewers and posted an average over the entire round of 5.2 million daily viewers. The mountain stages as Pinerolo-Serre Chevalier even totaled an audience share of 55.4%.
Daniel Bilalian, head of France Televisions sports, these good results are due primarily to the fact that "the Tour was a real race with many uncertainties, suspense and surprises.As in previous years, the doping scandals have caused the alienation of the event, the 2011 has shown, not supermen, but real riders in the choice of strategies winners or losers, often arriving exhausted. "D ' Moreover, as noted in the athletic director of France Televisions, "sporting events that are stable or growing in audience are characterized by their rarity, such as Six Nations, the Olympics or the Tour de France. It is not just a sporting event but a historical monument as well as July 14. "
"The arrival of new international actors"
This would explain que15 including 20% of viewers of the Tour are not fans of "Little Queen." To hang, France Televisions has also developed programs around the retransmission of the competition."The austere retransmissions within the meaning of the word belong to channels. In France Televisions, we focus instead on the sporting spectacle, "insists Daniel Bilalian. And it noted that "if no channel can claim an immediate return to a sports broadcast, however, its market share in a day later, a commercial value that advertising can be negotiated. The sport has allowed France to claim 2 throughout the year an audience share of 16% and not 15%. "For this reason in particular that France Television has extended by two years until 2015 included a distribution contract with Amaury Sport Organisation (ASO), the copyright holder of the Tour de France, but the Paris-Roubaix, the Paris Marathon, or the Dakar.If no amount has been disclosed, market experts say that "France Televisions, which remained faithful to the Tour in the worst moments of its history and has guaranteed its sponsors visibility of its branches, would have known that a reasonable increase of prices of the competition. "
In 2015, all contracts of the Tour de France, however, must be renegotiated. Daniel Bilalian cause for concern that fears "the arrival of new international actors such as al-Jazeera, which invests to meet all requirements and policies that have no marketing budget limit."
The reputation of Europcar in the wake of Voeckler
Ten days in yellow by Thomas Voeckler, Europcar team leader, allowed the car rental company to significantly improve its reputation.The group chose this sport for its popularity intact despite the image linked to doping.
Number one European location, the group has engaged in cycling in 2010 to try to improve its reputation with its competitors (Avis, Hertz, Sixt) most frequently cited in surveys of customers. Building 15 million for three years in cycling, the group has apparently achieved its objectives through thousands of citations during the Tour de France.
This bet – won – was nevertheless very bold: Europcar had bet 75% of its budget and marketing communication, 2011.
The U.S. stock markets, should the open down on Wednesday. Future of Standard & Poor's 500 and Nasdaq 100, respectively, in fact retreating from 0.24% to 1333.50 points and 0.14%% to 2368.75 points. Tuesday, Wall Street ended the session in a disorganized manner. The Dow Jones lost 0.1% to 12,569.87 points while the Nasdaq 100 has been 0.35% to 2825.77 points. For its part, the broader index S & P 500 yielded 0.13% at 1337.88 points, in a low volume of trade.
Lowering the debt rating of Portugal four notches by Moody's is expected to weigh on investor sentiment on Wall Street.The rating agency has no confidence in the program "ambitious" in the words of the new government which includes to reduce the country's deficit from 9.1% to 5.9% this year, and 3% of 2013, and believes it is likely that Portugal needs a new aid in addition to 78 billion decided last May.
Also on the front of the public finance crisis in Europe, major international banks and insurers have an appointment in Paris today to discuss again the terms of their expected participation in the next plan of aid to Greece.
On the foreign exchange market, the euro fell sharply against the dollar on Wednesday, weighed down by renewed worries about the economic health of the most fragile countries in the euro area.Around 11:00 in Paris, the single European currency was worth 1.4359 dollars against 1.4418 dollars late Tuesday.
Warren Buffett eye on the activities of consumer credit from Citigroup
On the macroeconomic front, investors will be watching in the U guaranteed pay day loans.S., the ISM index of activity in the service in June in 16 hours and the weekly inventory of crude oil after half an hour.The main highlight of the week, however, is expected Friday with the employment figures.
The side of values, the U.S. investor Warren Buffett, through his holding company Berkshire Hathaway, is in line to take over the activities of consumer credit offered for sale by the bank Citigroup, the Wall Street Journal said on its website.
According to the Wall Street Journal, the micro-blogging site Twitter is finalizing a new round of finance which would raise hundreds of millions of dollars and the recovery to $ 7 billion.In December, Twitter announced that it has raised funds "important" from a group of investors who, according to a news site dedicated, focused its total value to about $ 3.7 billion.
Also note, investment banks Goldman Sachs and Morgan Stanley announced Wednesday it had placed with private investors 9.16% of Spanish giant Amadeus travel bookings, to 569.9 million euros.
In addition, DST Systems has announced the acquisition of IntelliSource Healthcare Solutions, a solutions provider operating in the field of health insurance. The terms of the transaction were not disclosed.
For its part, Pfizer has reported positive results for the phase III study conducted in Japan on Lyrica (pregabalin) for the treatment of fibromyalgia.
The government is very worried by the drought that has spread to 61 French departments and is willing to provide aid to farmers. Nicolas Sarkozy, who is in the Charente on Thursday presented a plan to help farmers affected by drought which includes a "shift one year" repayment of loans granted to farmers in 2009, and waived the Tax on undeveloped land.
"It is essentially a cash flow problem is (…), you repay your debts, or you pay for your food animals," said Nicolas Sarkozy after visiting the operation of a cattle farmer Montemboeuf . "We will find you some leeway and we will shift all the payments of a year," he added. "Essentially this is a map of deferments," stressed the head of state.He stressed that the "encryption" of this measure, the state will take over the payment of interest owed by farmers, could not be established "now" does not exclude other measures if necessary .
A budget of 500 million
At a roundtable in La Rochefoucauld, the Head of State later clarified that this related only to the reimbursement of aid paid under the plan launched in 2009 Poligny (Jura). "I just do not tell the difference repayment of all loans in French agriculture, it must be serious," he said. During the roundtable, the president also said that "farmers in the affected areas would benefit from an exemption from tax on undeveloped land (…) which represents 300 million euros."
In the process, he said that the state would pay the national guarantee fund against agricultural disasters, mobilized by the Minister of Agriculture, Bruno Le Maire, a budget of around EUR 200 million to enable the payment Advance compensation "from the month of September business cards." "On 12 July there will be a first test session files (…) the first payments will be held in September," he said.
Facilities of National Defence made provisions
Finally, Nicolas Sarkozy has announced, next week, a meeting of professional agricultural organizations with the Ministers of Agriculture, Ecology and Defense, as well as the CEO of SNCF to adjust logistical problems posed by the movement of fodder from farmers in difficulty."The problem is less a production problem at those you book (fodder) that a massive logistical problem," he said, adding that "national defense facilities" will be made available to allow storage straw and fodder.
In his speech, the head of state has ruled out any direct assistance to farmers in difficulty. "Do not fall back into bad habits to give you benefits that would be declared illegal (by Brussels, ed) in a few months," he said.
In addition to these economic measures, Nicolas Sarkozy also announced the establishment of a five-year plan to create water reservoirs and reduced volumes of water used by agriculture. "We must learn how to use the water," he concluded.
(With AFP)
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GDF SUEZ announced Friday in a statement that "the general meeting of shareholders of Compagnie du Vent has decided to replace" its chairman and founder Jean-Michel Germa by Thierry Conil, "over 30 years experience in GDF Suez ". "A major strategic dispute," the statement continued, between GDF Suez, which owns 56.8% of Compagnie du Vent and its founder Jean-Michel Germa, which owns 43.2% is the origin of this separation.
Problem: Jean-Michel Germa judicially contest his dismissal, even though he knew his scheduled departure. First on the form. Feeling the dispute with its powerful shareholder grow for months, Jean-Michel Germa had sought this week the protection of the commercial court of Montpellier (seat LCV).He had requested the postponement of Thursday's meeting but GDF Suez has received the same day, the Tribunal de Commerce "authorization" to conduct this meeting. Jean-Michel Germa considers that the meeting "was not held." The founder of the company that employs 156 employees (sales: 27 million) is "very shocked" by the group methods.
On the merits, the proposed wind farm on both coasts, off Tréport is at the heart of the dispute between the two parties. "I wore this folder on the baptismal font for more than six years," says Jean-Michel Germa. Since 2005, he sought a major partner, not being able to invest only 2.5 billion euros of this pharaonic site of more than 100 offshore wind GDF Suez said this in 2007.Only offshore project in France to have passed the stage of public debate and to have obtained permission trunking park on both sides to eventually be included in the five zones affected by the imminent bidding of the government. Germa estimated that his company could legitimately respond to the bidding as prime contractor, with GDF Suez and all interested partners.
Regain control
The group Mestrallet which just announced an alliance with Areva and Vinci to participate in the tender intends to resume the hand and accuses Jean-Michel Germa its "independent development approach." "We do not aim to be your bank, it is argued in the entourage of the group.GDF Suez eyes, only the creation of a true industrial sector will invest successfully niche offshore wind: "Between the amounts required and the risks to assume the financial stakes are so huge it takes deploy a comprehensive strategy. "
Other disputes have marked the common path of CTA and its controlling shareholder. Today, Jean-Michel Germa figure at 490 million euros loss suffered by his company, counting the resumption of the park on both sides by GDF Suez.
Energia says victim of the same strategy
While the government prepares to launch the tender on offshore wind farms and to renew some concessions hydraulic group Mestrallet began to gather around "a great center" activities in the Renewable France previously dispersed in several subsidiaries.The group, which currently has a portfolio of 1000 megawatts (MW) wind farm, wants to double within five years. The multinational company has invested 135 million euros in CTA believes it was time to take complete control. Jean-Michel Germa denounces what he sees as a strategy of GDF Suez, which is "to transfer the assets of companies that the group claims to have bought too much, empty them of their substance out minority shareholders on the cheap."
Fabrice Crobbedu, former head of Energia, a small business specializing in heating, acquired by GDF Suez in 2008 to 54% consider themselves victims of this same strategy. Revoked in 2009, it remained a minority shareholder. At GDF Suez, the response by explaining that Fabrizio Crobbedu is suspected of abuse of corporate assets. The judicial successive episodes.Until this year, going back to Friday when Fabrice Crobbedu grabbed the Commercial Court to challenge Nevers, too, holding a general meeting.
Twitter to keep its territory, San Francisco has agreed to reduce its withdrawals. The dynamic Internet group threatened to leave town if he did not get an exemption from tax assessments. The municipality sold late last week. "The town where we grew up and started our next house will remain," announced on the blog's group communications manager, Sean Garrett.
Twitter threatened to move from Brisbane, a town in the suburbs south of San Francisco, closer to the heart of Silicon Valley, where the headquarters of many groups and start-ups on the web. The CFO of Twitter, Rowghani Ali, believed a move would allow the group to save 30 million dollars in taxes, rents and other expenses over the next five years. "A significant difference for a company our size," said Ali Rowghani.According to eMarketer estimates, the turnover of Twitter totaled $ 45 million in 2010.
San Francisco did not want to lose the company that is revitalizing its image. Twitter has played. "Our growth is able to generate the creation of a true business center in our area," argues Ali Rowghani. The municipality has decided to grant exemptions from social contributions for new employees for companies that locate in certain neighborhoods in decline pay day loans. Twitter, which has 400 employees, plans to have nearly 3,000 in 2012.
Tax on wages
The municipality, it is true, remains unwelcoming financially for Internet groups. It is the only California tax corporations based on employees' income.Companies paying more than $ 250,000 in payroll is subject to a fee equivalent to 1.5% of the sum. Moreover, this tax applies to all forms of income, including profits realized on the resale of stock options, says the New York Times. This form of remuneration is very popular with start-ups and other Internet groups.
After facing the group sold microblogging, San Francisco is now facing demands from other companies. Specialist Zynga games online community, which produces Farmville, complained of this privilege and threatens to turn to leave the city. The New York Times, "legal services in the city now planchent exemption from taxes on wages covering the whole surface of the city."
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