Visa Europe and MasterCard compete imagination to make their cards more attractive. Thus, Visa deploys a program of benefits for some 4.2 million Visa cardholders Prime. They now benefit from price reductions in a list of partner stores (Sephora, Lapeyre, Opinion …) by simply presenting a coupon to download on the Internet (visa.fr). April 1, this program will be expanded to Lenotre, ready-to-wear or Bensimon to Nature and Discovery. "Historically, the world of credit cards was rather that of the travel and leisure. Now the goal is to approach the everyday consumer, "says Catherine Soubirou, partnership manager at Visa Europe. MasterCard, meanwhile, has developed an online shopping mall which also offers discounts to holders of the Gold card.
But for the most prestigious cards, these benefits are not enough. The 150,000 holders of a Visa Infinite card will then be offered, to April 1, new services very chic. As Jet Taxi, which for 2200 euros an hour, take four people in Le Bourget to the destination of their choice. Or the opportunity to attend events are difficult to access (the Grand Prix of Monaco Formula 1, the Cannes Film Festival …).
Extensions guarantees
Open doors to places or events was the confidential trademark of the very VIP Centurion Card from American Express. The same idea will wow now the holders of other cards. MasterCard has already embarked on this path, imagining private parties for its Platinum card holders who dream of visiting a quiet art exhibitions or attend concerts circle. A taste for the Parisians, what awaits them when Paris will join the Priceless Cities program, launched by MasterCard in New York last summer and launched from London and Toronto. It offers cardholders Platinum – but for some offers, a Gold – privileges: previews or priority seating for events to, in the highest rated restaurants
.
"Exclusive offers, which consumers aspire today," says Francois Gandon, marketing manager of MasterCard France. Thus, the card interest is not limited to insurance they offer … even if they are perfected. Visa is for example to review his.
The foreign assistance was not playing in the event of natural disaster? This exclusion has been removed. Children of divorced or separated parents received guarantees only if the parent traveling with the cardholder? They are now protected even if they move without him. "The goal is to avoid maximum disappointment of our customers, guarantees on misunderstood or exclusions that surprise them," says Emmanuel Robert, head of product offers from Visa Europe France.
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A little paradise, and it likes to describe Mauritius. It is true that between its climate, turquoise blue lagoons and white sandy beaches, this state of the Indian Ocean is not without assets. Qualities that appeal to the French, the latter also attracted a lively French-speaking and low time difference (2 or 3 hours), representing one third of a million annual visitors to the island. Wealthy retirees enjoy, in turn, to reside in a country with attractive tax: no wealth tax, no inheritance tax, flat tax on income of 15% …
Yet in times of crisis, these arguments are not enough in attracting investors in local real estate projects. So far, a number of programs involved imposing villas sold between 1 and 2 million, but now struggling to find buyers.This is the only marina project on the island, a must for lovers of water sports. There are also a shopping center, a wellness area and large villas whose prices exceed $ 2.5 million and apartments more affordable, starting at $ 800,000.
The coming months will determine whether those efforts are paying off Mauritius with senior French.
A specific legal framework
In Mauritius, the real estate purchases by foreigners are governed by three tax schemes .- The IRS (Integrated Resort Scheme) for the freehold property of a minimum of 500.000dollars. It immediately gives purchasers the right to a permanent residence permit. They are free to then perform the steps to take up residence on site tax .- The RES (Real Estate Scheme) has, in turn, subject to any minimum price.
The automotive sector is on the alert. As shown in Le Parisien on Saturday, Brussels would consider tax per liter of diesel in Europe from 8 to 15% more than gasoline. A directive to this effect must be examined by the European Parliament in November for an application expected in 2013. Objective: To fight against this highly polluting energy, used by nearly 7 million cars in Europe.
The European Commission highlights the paradox between a cleaner gasoline and cheaper duty-sold more expensive at the pump, and diesel more expensive duty free, massive source of emissions of fine particles hazardous to health, and less expensive for motorists. She said outside the UK, the tax treatment of petrol and diesel in Europe is "flawed" and needs the overhaul.
Concern
For manufacturers, the news comes at the worst time.These are already working on the application in 2014 of Euro 6, which calls for reducing carbon emissions and fine particles. This standard requires them to implement expensive technology on diesel vehicles that will increase the price of these cars from 1500 to 2000 euros business cards design. What scare away customers. If in addition the price of a liter of diesel were to increase significantly, the diesel car market could collapse.
The Committee of French Automobile Manufacturers believes that the introduction of this directive in France could lose 20 points of market share on the sale of diesel cars. In the columns of Paris, its president, Patrick Blain, worried: "The decline in production in French factories (on the cutting edge in the field of diesel, ie) would inevitably have social consequences," he warns.
Professionals and individuals may also choose to get rid of their cars too expensive, which could lead to plummeting prices of diesel cars. "It may be possible to adopt transitional measures that will leave everyone time to adjust," said he.
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After the 2010 reform, pensions should not be a real issue this year in the budget of the social security system. In fact, the main novelty of this result to come Woerth reform: the legal age will increase to 60 years and 8 months for those born in 1952. The other change was as expected since it corresponds to Nicolas Sarkozy's commitment to increase the "small pensions" by 25% during his five-year term: this will be done on April 1, with a final increase of 4.7 % of the minimum pension for single people.
But Thursday, François Fillon has caused confusion. Referring to the economic convergence between France and Germany, he said that things were moving in the field of corporate tax.He added: "It will take time to go to a joint work towards a common retirement age, to a gradual convergence of economic and social organization of our two countries." But the retirement age with full pension, except for long careers, will be increased to 67 years across the Rhine by 2029.
"Target needed '
Trial balloon of "Fillon-the-discipline"? Clumsiness (this passage was the only improvised his speech)? Applies to defuse his entourage: "Convergence is a general purpose necessary to maintain the competitiveness of France. The recent pension reform is an element of social convergence, and the government does not intend to go beyond in the coming months, "says an adviser.And up, tongue-in-cheek, that the barrier of 67 years had not been mentioned, and that convergence might as well be on "our" 62 years …
In fact, it would be difficult for the Prime Minister to explain that further reform is needed, a year after he hammered the previous balance the books. But in the midst of primary socialist and the day of the budget of the social security, his statement could hardly go unnoticed. For François Hollande, Fillon "revealed the program of Nicolas Sarkozy" in 2012. Segolene Royal accused her of "not being honest", the systems are so different that any comparison between the 67-year German and French 62 years is risky.Exact to the point that Valerie Pécresse also used the argument to play the controversy, noting that the retirement age without financial penalty for people without all their quarters of contribution, would be increased from 2023 in France … in 67 years.
These subtleties have also pushed Martine Aubry to say that the Prime Minister does "not know the subject" and "has a problem with the actual figures." What afoul of Xavier Bertrand: "She would have done better to remain silent. If there is one subject on which the PS has done nothing, other reports and reports of decisions, it's pensions, "responded the Minister of Labour.
Player Figaro BFM
The Fed has launched "Operation Twist" on Wednesday. Following a two-day extraordinary meeting of its Monetary Policy Committee (FOMC), the U.S. central bank announced its intention to sell by the end of June 2012 for $ 400 billion of treasury bills maturity of three years or less, to buy an equivalent amount of maturity from six to 30 years.
This mechanism, which takes its name from the famous dance that was all the rage in the 1960s, had just been used for the last time in 1961. Its objective is to reduce interest rates in the long run to give a boost to business investment and the demand for housing loans, which use these rates as reference.
The Fed, however, chose not to touch interest rates that determine the short-term rates. They remain between 0% and 0.25%.And they will remain at historically low levels until mid-2013, said a statement.
Market disappointment
In addition to this twist, and in order to support the mortgage market, the Fed will also buy real estate securities without increasing the size of its portfolio. For this, it will continue to reinvest the securities-backed real estate it owns as they fall due. But the FOMC said, instead of buying Treasury bonds as it did previously, she will buy securities backed by mortgage-agency mortgage refinancing para as Fannie Mae and Freddie Mac.
This double operation shows that the Federal Reserve, the economy remains very depressed. The Fed also believes that global economic growth will remain slow.Conclusions that are similar to those of the IMF, which announced Tuesday it had seen very sharp fall in its growth forecast for the U.S., in theory at a level insufficient to expect a decline in the unemployment rate, which remains very high to 9.1%.
On Wall Street, where the launch of Operation Twist was widely anticipated, the operators retain the gloomy perspective of the Central Bank on the economy. Shortly after the news release of the Fed, the Dow Jones was digging his losses and gave up 1.10% at 11,283 points.
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Pens, binders and notebooks just sold, the aisles are already crowded with bottles of wine. Casino at the wine fair began yesterday, Carrefour, Monoprix and Leaderprice follow today. The stakes are high for retailers: the event is about 10% of their annual sales within that radius.
While retailers feared a drop in consumption, the 2011 is again under the sign of exclusive regional, but especially low price. "More than six out of ten bottles will be offered to less than 6 euros," explains Stéphane Cathelain, head of wine fairs in the Casino Group stores (excluding Leaderprice, Franprix and Monoprix). The distributor, which doubles the operation of a fair whiskey, playing more than any other card of its private label wines with a score of "Club des Sommeliers Grand Reserve" a total of 450 brands, from 2 euros.
At Carrefour, the entry level is the same at 1.25 euros as the company has chosen to focus on the prize "this year". In hypermarkets, where 680 wines will be offered, "30% of the selection is less than 5 euros and 45% to less than 7 euros," explains the group. In supermarkets Carrefour Market, "the average bottle price is 6 euros." This argument should convince men-client type of the Wine Fair, to fill their baskets for 55 euros on average, at Carrefour.
"Two bottles purchased, offered a"
Leclerc also offers many affordable bottles from its 3000 references. The company, which invented the event in 1973, has seen its turnover grow Wine Fair from 8% last year to 80 million euros (12% of sales over the year).
Auchan, there are many "quality of the vintage 2009 to incite customers to buy," anticipates Olivier Mouchet, Group Head wines. Two-thirds of the offer (1200 references, up to 800 per store) will consist of wine this year. "For three years we have strengthened the promotions of the type bought two bottles, one offered. This offer is valid this year about a bottle of five, "said the official, adding that" the choice is our main argument. "
Last year, Auchan has achieved a turnover of 54 million euros, up 7%, representing 15% of sales over the year. This is double the grouping of the Musketeers, for which the event (45 million in sales) accounted for 8% of annual sales in 2010.
"Systeme U is" over-seller "of wine during the fairs, more than its share of food market over the period," said Emmanuel Podevin, the head of the national product of the wine brand. Rather than the lowest price, Système U emphasis this year on the value. The bottle sold in U at the Wine Fair is about twice as that sold during the year: 7 euros for the first, against about 3 euros for the second. The strategy has proven itself in 5 years, the turnover of the event has doubled in U system, reaching 36 million euros last year.
Time to pay the bill has come. The Federal Housing Finance (FHFA) has filed Friday in New York a complaint for fraud against the banks it considers responsible for the subprime crisis. In the end, it is not twelve, as originally announced by the New York Times, but seventeen institutions (ten U.S. and seven foreign) that are affected by this complaint. Among them, the French bank Societe Generale.
Nearly $ 200 billion of securities
The FHFA criticizes all of these institutions have sold financial products backed by mortgages on the two parastatals of mortgages Fannie Mae and Freddie Mac, between 2005 and 2008. At the time, the banks had facilitated access to loans of U.S. households to recruit new customers and sell homes often too expensive betting on rising prices.The system had finally collapsed during the summer of 2008, taking with it Fanny Mae and Freddie Mac.
The FHFA estimate that the seventeen banks have concealed certain characteristics of the securities they sold, including lying about reality checks on the creditworthiness of borrowers households. "The complaints allege violations of federal law governing financial assets and rights (common law) in the sale of securities backed by residential mortgages designed by these institutions," said the FHFA.
All the losses by the two organizations, which then 40% of the outstanding loans granted to the United States is estimated at 30 billion.Placed under public guardianship, Fannie Mae and Freddie Mac have so far cost $ 170 billion to American taxpayers.
The FHFA was assessed for each of the banks in the dollar amount of securities sold to two giants of credit (see box). In total, nearly $ 200 billion of securities that were sold. Most involved, the JPMorgan U.S. (United States) would have sold itself for more than $ 33 billion of securities. Societe Generale for its part would have yielded $ 1.3 billion.
"Fannie and Freddie knew"
The complaint of the Federal Agency is expected to lead to negotiations and a financial agreement to avoid a trial. In all cases, the procedure could be very expensive institutions in question, particularly in the largest U.S. bank by assets, Bank of America.The group should in fact not only defend his own actions, not the worst according to the FHFA, but also the mortgage lender Countrywide and investment bank Merrill Lynch, bought in 2008 make quick cash. Last June, the U.S. bank said it had agreed to pay $ 8.5 billion to end the prosecution of several investors and intended to spend an additional provision of $ 5.5 billion to clear the situation with Freddie Mac and Fannie Mae. The Wall Street Journal fell when it was the agreement to compensate the largest ever signed. The group also announced on the night of Friday to Saturday it plans to reduce its workforce by 10%, equivalent to the elimination of 30,000 positions.
The defensive line of Bank of America today is that Fannie and Freddie knew very well what they were doing."They said they understand the risks" and "now seek to hold other market operators to be responsible for their losses," the group said in a statement.
Regarding the French bank Societe Generale, no figures were given, but the injury is considered "important" by the Federal Housing Finance.
Amount of securities sold by banks
1. JPMorgan (USA): more than $ 33 billion
2. Royal Bank of Scotland (UK): more than 30.4 billion
3. Countrywide (United States, Bank of America): about 26.6 billion
4. Merrill Lynch (United States, Bank of America): more than 24.9 billion
5. Deutsche Bank (Germany): more than 14.2 billion
6. Credit Suisse (Switzerland): over 14.1 billion
7. Goldman Sachs (USA): more than 11.1 billion
8.Morgan Stanley (USA): more than 10.6 billion
9. HSBC (UK): more than 6.2 billion
10. Ally (USA, formerly GMAC): over 6 billion
10. Bank of America (USA): over 6 billion
12. Barclays (UK): about 4.9 billion
13. Citigroup (USA): over 3.5 billion
14. Nomura (Japan): more than 2 billion
15. Societe Generale (France): nearly 1.3 billion
16. First Horizon (USA): 900 million
17. General Electric (USA, parent company of GE Capital): 550 million
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This is doubly reassured investors that the deal the week. By Ben Bernanke's speech Friday, but ultimately the impact of lower than expected Hurricane Irene passed over New York yesterday.
Shortly before the start of the meeting on Monday in New York, the index futures Standard & Poor's 500 and Nasdaq 100 advanced 1.11%, respectively, to 1187.50 points and 0.94% at 2184.25 points. The Dow Jones was meanwhile expected to rise from 0.82% to 372.5 points 11.
The reaction of U.S. markets to long-awaited speech of Ben Bernanke, head of the powerful U.S. Federal Reserve (Fed), will eventually in two stages.A slight disappointment that quickly gave way to a clearer optimism which plainly overtime on Monday.
The Dow Jones above 11,000 points
According to analysts at Aurel BGC, the announcement by Ben Bernanke, a two-day meeting in September to study in detail the possible deployment of new monetary tools, reassured. "Either the recovery of economic activity is growing, or the central bank will implement new support measures, they summarize. Under these conditions, the U.S. indices rebounded sharply after the speech of Ben Bernanke. "
In fact, fell below the 11,000 points while the Fed chairman began to speak, the Dow finished at 11 284.5, up 1.2% on Friday night.A final increase, which encouraged European stock markets bounce back on Monday morning, except in London, closed due to holiday.
Two indicators will be stalked in the eye of investors on Monday, with, at 14:30, before the opening, income and consumption of American households for the month of July. It should show a slight increase. This will be followed at 16:00, the promise of home sales for the month of July, which are expected down 0.1% from a consensus of analysts, against 2.4% rise previously.
No major publication is expected on the business side.
Attendance up 5%. An average expenditure which increased by 4% in its parks. Taking advantage of a particularly mild weather in spring and the return of British and Italian visitors, Euro Disney rose 7% on sales of its parks and hotels, to 344 million euros in the third quarter (ended late June) of its 2010-2011 fiscal year. This is his fifth consecutive quarter of increases. Taking into account the sale of a significant real estate asset, Europe's leading theme parks accumulated 903.5 million euros in turnover in nine months (+1.2% compared to last year ).
The French, who represented 51% of customers last year came less numerous: the slight improvement in the economic environment has led them to more from the spring.In contrast, British and Italian clientele grew, encouraged by policies coming promotions more pronounced than last year.
The good weather has also contributed to the performance of Euro Disney. A pleasant weather naturally encourages visitors to stay longer in the parks. A plus for the restoration, especially at night. It also encourages the regulars in the last minute to finally take their ticket. Knowing that about 50% of French customers of Euro Disney lives in Ile-de-France, it is far from negligible.
"An incidence of 30% attendance"
The bad weather of July and early August this will inevitably impact on revenue of Mickey and, more generally, on most other amusement parks online payday loans. Euro Disney does not give a forecast for the full year.But the last quarter, the summer months, is the largest of the year. At the Compagnie des Alpes, which owns the Parc Asterix and Futuroscope, the last quarter of fiscal year (July-August-September) concentrates 50% of the business of amusement parks. A bad summer does not catch up. "July and August are the two biggest months of the year for the industry, insists Didier Arino, Chief of Staff Protourisme. Bad weather penalizes all parks outdoors, especially water parks Aqualand and as Walibi. Parc Asterix, which has a strong client focus, also suffers. Parks attractions offering coverage, such as Futuroscope, aquariums or Crocodile Farm, do better. "
According to this expert, the great advance made in the spring will allow the largest farms (more than one million visitors) to record another year of growth."But 2011 will not beat attendance records in 2010," he predicts, ensuring that "the weather has an incidence of 30% attendance at outdoor parks."
Already facing a strong seasonality of revenues, theme parks have so decisive a card to play in protecting itself further to the vagaries of time. But this represents additional investment. "Vulcania, for example, has developed a open air that did not exist at the start," said Didier Arino.
News of the World, the oldest and largest circulation newspaper the Sunday English, was released yesterday for the last time, after Rupert Murdoch's decision to close this very popular title, but plunged into the massive wiretapping scandal .
"It's 8.674e number, after 168 years proud," said Colin Myler Saturday night, the managing editor of the newspaper, brandishing the latest of a tabloid before the 280 employees who lost, like him, they job this weekend. "And in the best tradition of Fleet Street (old street newspapers in London), we now turn to the pub," he said.
For the latter days, the draw was doubled, 5 million copies instead of the usual 2.6 million, anticipating an influx of buyers for a very symbolic last issue, with headlines such as simple "Thank you and goodbye."The first and last pages were composed of a collage of the most famous one in recent years: revelations of sulfur on the private lives of stars, footballers, members of the royal family and politicians, and various high-profile scoops.
The sacrifice of Murdoch as the British press with the most -7.5 million readers every weekend, has caused a very strong emotion, leaving no one indifferent in the country.
"Toxic" assets
But for many media experts, the name News of the World, soiled by the illegal wiretapping of some journalists between 2002 and 2006, had become "toxic" to the group News Corporation Rupert Murdoch fast payday loan no faxing.The scandal falls at the worst time for the Australian media magnate, arrived in London yesterday: the group is seeking government permission to buy all the shares of BSkyB satellite television service, an operation of more than 9 billion euros .
Many opponents of the Murdoch group already call the closure of News of the World of operation "cynical." Sunday is expected to revive the title in a few weeks under a new name, probably Sun on Sunday for a Sunday edition of the other tabloid star Murdoch. According to Sky News, News International is seeking to find the person who last week bought several domain names, including thesunonsunday.co.uk.The editors of the Sun and News of the World were separated, but their editorial styles were similar, with pictures of naked girls, and a maximum of content devoted to celebrities and the number one sport in England, football.
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