Technically, the new operator is ready. Its network already exceeds largely 27% coverage, according to industry sources. A threshold that allows it to trigger the negotiated roaming agreement with Orange (the ability to take the Orange network) and open its service throughout France fast cash loans. Commercially, the teams are also in the starting blocks. Free Mobile has largely recruited and now grazes a thousand employees, including over 800 dedicated technical support. After two shops in Rouen and Troyes, a third scheduled to open within a few days in Angers.

Other major European markets rose in unison. The Dax in Frankfurt Stock Exchange gained 5.29% and 4.02% London FTSE. And the European indices, the Eurostoxx 50 was up 5.06%. "The anguish of Greece, who were greatly exaggerated, have finally subsided a bit," said one operator.A Wall Street as investors watch with great attention the developments of the rise of public finances in Europe, the relief was also needed. Sitting in the Dow Jones advanced 2.27% and the Nasdaq 2.18%.

"Investors have decided to give credit to European and international policy makers in their efforts to find ways to resolve the crisis of sovereign debt," explained economists broker Aurel BGC. There are "high hopes that one is engaged in the right direction towards resolving the debt crisis in Europe," agreed analysts at LBBW in Frankfurt. Other analysts, however, want to caution, as the strategists of the Crédit Mutuel-CIC who believe that the upturn may not last and that the rumors that stir the markets are certainly still "exaggerated."For them, the hypothesis of the expansion means the European support fund for countries in trouble (EFSF), which propels the securities of banks for several days, "does not solve the structural problems in Europe."

According to the spokesperson of European Commissioner for Economic Affairs Olli Rehn, Europe is considering strengthening the capacity of the European support fund for countries in trouble (EFSF). Rumors press also reported a proposed quadrupling of the Fund's lending capacity to 2000 billion euros. In turn, an official of the ECB, the Austrian Ewald Nowotny, did not rule out declines in interest rates in the euro area.But soon, the German Finance Minister Wolfgang Schäuble assured that Europeans had "no intention of bailing out" the EFSF and called the hypothesis of totally "stupid."

Absent for several weeks, the good news poured in yesterday from Europe and the United States.

On the Old Continent, first. Jean-Claude Juncker, the leader of the finance ministers of the euro area has confirmed the return of the troika, bringing the European Union, the ECB and the IMF, major donors of Greece, by Thursday Athens, which could allow the release of a new tranche of EUR 8 billion, which is vital for the country. At the same time discontent rises and Athens was again paralyzed Tuesday by a wave of strikes in public transport.

Good news also in the United States, in the still under close surveillance of the property.House prices in the twenty largest U.S. cities have stabilized in July, according to Case-Shiller survey.

In Paris, banking stocks, on the front line since the beginning of the sovereign debt crisis, have literally flown the hope of a breakthrough in the situation in Greece.

Societe Generale, had a spectacular end of the session, jumping nearly 17%. For its part, BNP Paribas was awarded 14.15% and Credit Agricole was up 13.10%.

Oil opened up in New York

The euro was weakening on Tuesday to below $ 1.35. In session, the euro stood at 1.3496 dollars, against 1.3523 dollars late Monday.He had fallen in session Monday to 1.3363 dollars, its lowest level since mid-January, prior to recover.

As for commodities, gold has recovered slightly this morning at 1640 dollars an ounce after declining over the last three sessions. Oil evolved soaring Tuesday at the opening in New York, driven by renewed optimism for the determination of the Europeans to resolve the debt crisis in the eurozone. On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for November delivery traded at 82.64 dollars, up by $ 2.40 at the close on Monday night.

Franco-German work beginning to bear fruit. On the harmonization of corporate taxes first. Baroin said that the proposals on a plate and a single rate in France and Germany are on the table in 2012, for implementation in 2013. "In practice, we expect an early convergence of the supplementary budget in September," said the minister. Impossible, however, as to what are currently the preferred paths to achieve such convergence. If, for example, the corporate tax will fall in France, or if it will increase across the Rhine.

The tax on financial transactions discussed in G20

The terms of the tax on financial transactions announced on August 16 by Angela Merkel and Nicolas Sarkozy also remain mysterious. "What is the basis used? Rate? Who receive income: the Commission, the States? We have not finalized the position on this issue ", said Minister of Economy, Baroin, in an interview published this morning in the Journal du Dimanche.

The German Minister of Economy Wolfgang Schäuble and his French counterpart have yet met last week, including to clarify the contours of the future tax, the timing is tighter. As originally announced by the Franco-German tandem, a first draft of the text should be proposed to the European Commission in the coming weeks."We are preparing a specific proposal that we send to the Committee in September," Baroin repeated the weekly.

Delicate negotiations

A timing that will allow the Commission to bring to the table a legislative proposal on the subject in early October, which will integrate the conclusions of the Franco-German couple. "It will be examined in the fall. We are determined to achieve results at the G20 3 and 4 November in Cannes, "said the minister. So much for the calendar. So far, the European Commission was considering the track instead of a 0.1% tax on transactions involving stocks or bonds, and 0.01% for those on products.

The adoption of such a tax at the European level is difficult, however, regardless of the arrangements envisaged.The unanimous agreement of the 27 states should indeed succeed the vote the proposal by the European Parliament. But Britain, which houses an important financial center, as well as Ireland or Luxembourg, are currently strongly opposed. Main question, the financial sector also protested against such a hypothesis, arguing the risks of travel to areas of the transactions tax warmer.

For the economist Antoine Brunet, president of AB markets, the sudden popularity of the Swiss franc is a logical consequence of the crisis simultaneously by the two major reserve currencies such as the dollar and euro. In a context of European debt crisis and doubts about the U.S. economy, the Swiss currency has become a safe haven.Christian Ott, an economist at Natixis, the same refers to a study released Wednesday, as the "gold exchange market."

This assessment has multiple consequences for the Swiss economy which derives about half of its GDP to exports. Over half of these exports are made in the euro area, the strong exchange rate appreciation poses a serious threat to economic growth. "This is a great loss of competitiveness for Switzerland, which could suffer a downturn in its foreign trade," said Antoine Brunet guaranteed payday loans.

Index the value of the Swiss franc to the euro

The options available to the SNB is still limited. While prices fell 0.5% in the first half, "the central bank chose to fight the risks of deflation rather than to thwart the development of the housing bubble, which would have justified a higher interest rate" says Christian Ott.To resolve this dilemma, all monetary policy actions "unconventional" are possible. The Vice-President Philipp Hildebrand SNB even mentioned last week assumed to index the value of the Swiss franc to the euro. Put simply, "Switzerland could introduce a tax on capital inflows, as did Brazil," suggests Antoine Brunet. Or "a tax on deposits in Swiss francs of non-residents, as was already established in the 1970s."

For now, the government has opted to directly support the activity. He announced Wednesday a plan with a $ 2 billion Swiss francs. Export industries and those in the tourism sector will be the primary beneficiaries. A "task force" on the strong franc and its impact on the Swiss economy has also been established, the government said.

Dagong is not severe with France. "She has a much more negative than Western agencies of the United States, the United Kingdom, France, Belgium, Italy, Spain, observes in a note to Patrick Artus, head of economic research at Natixis.Regarding the situation of public finances and potential growth, we can only give reason for Dagong against three major rating agencies. "

But the financial rating of a state that reflects the risk that it does not pay-or-bad debt, is not based solely on purely accounting. Moreover, France does not deserve an AA if only the statistics alone were taken into account by Standard & Poor's, according to calculations of Natixis.

Political risks

"The gap between Dagong and the three major agencies and explained in the apprehension of risk policy and governance," notes Juan Carlos Rodado, economist at Natixis, and author of a study on the methodology of rating agencies. An example: Venezuela has severely noted Standard & Poor's (BB-) by Dagong (BB +), because the former has less confidence in the Chavez government.Moody's, Fitch and Standard & Poor's, unlike Dagong, also place a note on the weight of history. If a country has poorly paid its creditors in the past, such as Russia in 1998, the final verdict will be more severe. This factor discriminates against developing countries, and benefits the West.

At the heart of the statistical arguments, the Chinese agency promotes stronger economic growth and foreign exchange reserves, that is to say the cash generated by an entire economy thanks to exports. This way of clearly favors the emerging countries, major exporters (including China) and catching up economically.

The agency Dagong appears too severe, however, in general, said Jean-Christophe Caffet, an economist in charge of France, Natixis also: "She has placed virtually no major country in the AAA category, and those that are found are not debt markets rather narrow in which we can not really invest, such as Norway, Denmark, Luxembourg and New Zealand. "

Question of Independence

Also emit some doubts about the credibility of the agency Dagong. It has only twenty analysts to rate 67 countries, against 70 to 80 126 Standard & Poor's. In addition, its relationship with the Beijing government cast doubt on some Chinese economists, reports Le Monde. Finally, the same method as slides Juan Carlos Rodado, is not innocent: "When Dagong underestimated so the political risk, we understand the underlying interest."Namely encourage emerging countries close to China.

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With the worldwide release of the film, the Smurfs are back in derivatives. A comeback orchestrated by IMPS, the company founded in 1984 by Belgian cartoonist Peyo's daughter, to manage the license. "We realized that the reputation of the Smurfs were huge but mainly used in Europe and often linked to the world of children, says William Auriol, managing director of IMPS, hired in 2009 for the film.We wanted to brand credibility on all age groups working on areas hitherto unusual for us. "

Hundreds of contracts have been established last year in 80 countries, the United States to Brazil via Malaysia and South Africa.In China, the Smurfs, who played the mascot for Expo Shanghai, allowed the Belgian pavilion to break records.

Candy, CDs, figurines …

Among these contracts, an advertising campaign on the environment in Spain of Volkswagen, the promotion of South Korea LG smartphones, dressing in South America credit card bank BBVA … "The film gives a very nice visibility to the license and can develop many partnerships, but the Smurfs have a life outside the film, "says Jerome Ollagnier, Brand Director at The Licensing Company, which manages the rights in France bad credit payday loans.

The 272 episodes of the cartoon aired non-stop for twenty years, have sat success. In fifteen years, sales of products reached $ 8 billion. 6 billion of Haribo sweets sold 40 million CDs, 500 million figurines, Kinder Surprise 50 million per year.Besides contracts with H & M, Zara and Sisley to attract the greatest. Only a third of sales of IMPS is made outside Europe. "The growth potential of the brand is huge, said William Auriol, who took the opportunity to increase its royalties. We are 15-20% of the way. "

The reasons for success? "These little blue, appeared in Spirou magazine in 1958, have become popular heroes beyond the comic, said Jerome Ollagnier. With a different name in each country (the Smurfs, i Puffi …), everyone can relate to men and women, children and adults. "

In France, large areas are still like the Smurfs characters dusty. This will not prevent the little blue men to settle in linear packs of sausages Knack or croque-monsieur Herta (Nestlé). Lint and Jemini dishes will also be sold in November."We have all the parameters for a commercial success," enthuses Thierry Bertoux, CEO of Jemini, who would see the Smurfs represent between 5% and 10% of its turnover in 2011.

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Will history repeat itself with PSA that intends to close its factory in Aulnay-sous-Bois (Seine-Saint-Denis) and Sevelnord (North). Except that unlike Renault's 30% owned by the state, the manufacturer, a lion is a 100% private. The scope of government is much smaller.

"These companies are accountable to the nation"

The State is taking this matter very seriously.If the Minister of Industry, Eric Besson, who met Thursday evening PSA CEO, Philippe Varin, said he was "reassured" by the commitments made by the carmaker, Prime Minister Francois Fillon, the move to guérande (Loire-Atlantique), did not hesitate to call the toll paid by the state to help a struggling sector during the economic crisis. At the time, PSA and Renault had received three billion euros each. "Given the large amount of aid made to the French car industry by the government, I would not and would not understand that these companies are not beholden to the nation that has helped easy payday loans." The Prime Minister will also have the opportunity to discuss this news with Philippe Varin on Saturday, as both men find themselves in the 24 Hours of Le Mans.

The Socialist Party (PS) is however not reassured."I do not have much confidence in his statements (Philippe Varin), says the spokesman of the Socialist Party, Benoît Hamon. Because we see a real transhumance migration of automotive production facilities and their equipment from the west to the east of Europe. " For its part, the Socialist mayor of Aulnay-sous-Bois, Gerard Segura, is confident that "until 2016, when production of the C3 should end in this factory. The industrial director of PSA, Denis Martin, had said Thursday that "industrial, it is absolutely impossible to give a guarantee on a sustainable medium and long terms. We have visibility into our roadmap to a year or 18 months. It is an absolute maximum, "he concludes. No doubt the state will seek to convince SAP to reconsider its plans.

This bottle, which, according to historians, belonged to Madame Clicquot in person, however, has not reached the heights expected. It was auctioned to a buyer in Singapore, which has also offered 24,000 euros for a bottle of Juglar a house Châlon longer exists. But already a new record is in sight: experts provide a bottle of 1907 Heidsieck would be to sell $ 275,000 in Moscow.

Operators, for whom these new frequencies are strategic deal with the explosion of mobile Internet, find, them, those auctions "overly complex" and "too fast".

"It's a gas plant, has criticized an operator, whereas the frequencies were divided into 15 lots and there were 9 combinations of frequency blocks available! "Given the excessive complexity of the procedure, we may be tempted not to go," he says.

The operators also consider the price too high."It requires a considerable financial effort to operators just when they are asked to invest in tomorrow's networks and optical fiber to continue to deploy 3G mobile networks," says one of them.

"That's fair. Operators are critical that the state will sell. It's like when Vou s buy an apartment, you put forward faults, not strengths, "says a close case. But the risks of litigation appear to be low, while the text is accurate and has been validated by the State Council.

MVNOs reassured

For their part, small operators without networks (called MVNOs), who were concerned about being excluded from the 4G, are reassured."We find that our calls for vigilance has clearly been agreed to promote the MVNO model and taking into account an ambitious architecture in the bidding," said Monday the spokesman of the Alternative Mobile, an association of 10 major MVNO, representing 90% of the market.

However, none of them even in the consortium, does not seem ready to be a candidate. "This tender aims to give additional spectrum for existing licensees," reacted Geoffroy Roux de Bezieux, CEO of Virgin Mobile, the first mobile virtual network operators with 2 million customers. "There is no room for economic fifth licensee," he said.

"The goal of planning that we put into law is fully respected, observed Senator Bruno Retallack of Vendee, Chairman of the Board of the Digital Dividend."The tender is balanced. The game is not made in advance and favors neither the one nor the other, "says Laura of Raudière, member of Eure et Loir.

Beyond the reactions of each other, do not mistake a poker game now undertakes. Operators should not miss the boat: This tender is a procedure in a single round. Everyone should have bet just before filing its envelope.

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In two years, from 2007 to 2010, the share of Latin American countries has doubled, from 5 to 10%.Brazil remains the locomotive of the continent, buoyed by a market of 190 million inhabitants, significant mineral and oil resources and the organization of two major sporting events, World Cup and the Olympics.

Between 2009 and 2010, FDI was almost doubled in that country to $ 48.5 billion, followed by Mexico (17.7), Chile (15.1 billion), Peru (7, 3), Colombia (6.8) and Argentina (5.2). "The first four have good credit rating credit rating agencies. In contrast, Argentina is penalized by a poor image, linked to the debt problem and the continuing dispute with the Paris Club.Its sovereign rating is a bit harsh and does not reflect economic fundamentals, "notes Bénédicte Baduel, Natixis.

Temperature Alert

Venezuela and Ecuador, the very dirigiste regimes of Hugo Chavez and Rafael Correa, who made numerous nationalizations, investors cool. The novelty of the year, also notes the CEPAL, the growing weight of China, who arrived with nearly $ 15 billion spent on mergers and acquisitions, third (9% of investments), behind United States (17%) and Netherlands (13%). Almost all concentrated in the exploitation of natural resources to fuel its growth.

The Executive Secretary of CEPAL, Alicia Barcena, the rest has warned against an excessive concentration of FDI in this sector."We are concerned because we are witnessing a reprimarisation economies," she said, lamenting the lack of investment in industry, technology and services. This is also explained by the sharp appreciation of currencies – the Brazilian real has gained almost 40% in two years – which makes them less competitive manufactured goods.

Despite the risk of overheating, fueled by a surge in capital inflows and a surge in inflation, the United Nations expect a rise of 15 to 25% of FDI in 2011 across the continent.