Sponsorship, ticketing, derivatives are all growth drivers for which France is lagging behind its European neighbors. "The Italian model is télédépendant, the Spanish club works with the assessment of the socios, the English clubs is very balanced between TV rights and ticket sales, such as German clubs who comes close," says Vincent warmShe, expert in sports department of Ineum Consulting.The French clubs, meanwhile, have historically focused their efforts on the sporting side, including the purchase or sale of players. However, the basis of any economic model in football is to have a stadium that can generate other revenue. "

Meanwhile Euro 2016

Several clubs are advancing on this issue in particular to the organization of Euro 2016. 1.7 billion euros were invested in the construction of four stadiums (Lille, Lyon, Nice and Bordeaux) and the renovation of eight (Paris, Lens, Toulouse, Saint-Etienne, Nancy, Saint-Denis, Strasbourg and Marseille ). 61% of this amount will be financed by the private sector. According to a study published by the specialist sports marketing and sponsorship, Sportfive, these renovations will generate 183 million euros in additional revenue annually for the French professional clubs."Unlike 1998, when two thirds of the total amount had been invested in the Stade de France for Euro 2016, the sum will be invested in various stages of Ligue 1. This does not mean that it will be 2016 to see the return on investment of this event, but probably two or three years, "said Vincent warmShe.

Meanwhile, an increase in revenue, French clubs are left to wish for a better management of expenditure of Spanish clubs, English or Italian. Hence the idea of financial fair play, which will be implemented in two years. They also hope the state will reduce their tax burdens. In vain. The French clubs will happen for example the exemption of 30% due to the image rights group.

"An alarming situation"

Less revenue, and therefore, if financial fair play will be implemented, less cost for French football.Our business model is in danger? "I do not think, but he went through a difficult period. Moreover, the French football is currently adapting its business model, but the process starts up slowly, because, unlike their European counterparts, most French clubs do not own their stadium and have yet to facing some opposition at the local level, "he says. Frederic Thiriez, the president of the Professional Football League, usually optimistic, yet cowardly: "The situation is alarming.And even if the net loss of French football is closer to the individual losses of some clubs in English or Spanish, by themselves superior to our deficit, and that the French clubs' debt of 140 million euros compared to three billion accumulated debt of Spanish clubs or four billion of English football. "

Germany as an example

It is understood that football is above all a show. And to provide the best entertainment club must both retain its best players and other hand acquire new just as good. But this model is viable only if the team acquires shares in question, particularly in Europe. However, no French club has won the European Cup from Marseille and PSG in the 90s … "The example shows that Tottenham can generate a lot of money without being European frequently.Again, the problem "stage" is paramount. In England, it was perfectly resolved. This does not prevent that some English clubs have suffered the brunt of the crisis. It would not surprise me that the German football compete more seriously come to English football in two or three years. It generates more revenue from commercial and brings more people into the stadiums. Rest TV rights, "said Vincent warmShe.

Anyway, it is time that the French clubs are considering setting up a new business model, less dependent on television rights, which could also decrease with the possible withdrawal of Orange, and linked to other stadium revenue by a real living. "There is no miracle solution, concludes an expert. We must proceed gradually on each file (stadiums, financial fair play, sponsorship, taxation …)».The organization of Euro 2016 with the construction of new stadiums that will be a turning point.

This difference was found "all things being equal", the newspaper said, that is to say, qualifications and duties equal, in businesses of similar size, etc.. "After dismissing all the biases that could distort the results, we arrive at a pay gap is said unexplained", explains Thierry Laurent, co-authored the study with Ferhat Mihoubi. Only males are affected by this discrimination. The lesbians do not suffer any apparent loss of wages "unexplained".

This discrimination does not affect all gays with the same force. The less educated and the young could be less discriminated against, while the widening gap with the qualifications and experience. As a percentage of the "visibility" of an employee within the company, analyze the two economists. The young staff are more secure, with little "visible" for competitive examination.

"Marriage premium"

The results of the study are close to the observed differences in wages abroad, but it must include "marriage premium" observed in France. A married man will win because on average 4% more than a single. Homosexuals can not have access to marriage, they are doubly penalized.In the U.S., according to a study published in October 2007 and based on the study of 91,000 cases, a gay employee earns an average 23% less than heterosexual married counterparts.

In France, these wage differentials are explained, the two authors argue, by homophobia. "A CSA poll conducted in March 2009, said Liberation, revealed that 28% of private sector employees do not feel" very comfortable "with the fact that their colleague is gay.

If the development of central Orange Avenue was considered there is more than a year, the social crisis has helped to initiate new tracks. Zen space with electric massage chairs has been installed. And icing on the cake, Wednesday and Friday, a Japanese massage specialist receives employees for sessions of 15 minutes of relaxation. But with a capacity of 16 appointments per week, the schedule of the practitioner is constantly full. "This is a test. If demand is constant, we increase the hours, "says Arnaud de Prin, director of sales activities of client services for the Great West.

3500 staff planned

Before the inauguration, St?phane Richard took care of receiving the local social partners."It recognizes that we're not out of the crisis is an important point," notes Dominique Leseigneur, Steward SOUTH. "Indeed, colleagues who now work here seem happy with their new premises, both conveniently located in the city and pleasant. However, two major points remain blocking: the hours and Saturday work, "he says.

Here, most people are working every other Saturday but found a small group that operates three Saturdays out of four. "The goal of our colleagues would reach a maximum of three on a Saturday," relays the steward. "We are a service company with the hours that go with it and it would be illusory to think that we can do otherwise," says the CEO. However, it leaves the door open: "We must think about work organization respects the balance of life for employees.In some cases it may be necessary to go through an increase in employment. "But the 3500 recruitments planned for 2010, its first since 1996, are designed to cope with attrition, the senior part-time and reintegration of some tasks.

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While the huge oil slick button that Friday the odds of a Louisiana still traumatized by Hurricanes Katrina and Rita, Barack Obama has sent two of his ministers on the spot "to ensure that BP and the government are doing everything they can, not just respond to this incident, but also to determine the causes. " The president has promised am?riain mobilize all the resources "of the country, including the military.

Enormous resources implemented

The flow of oil leaking from offshore wells was revealed on Thursday five times higher than previously thought, or 5,000 barrels per day, according to the National Oceanic and Atmospheric Agency (NOAA).And the damaged area has been classified as difficult to access for effective cleaning.

For the moment, "the consequences of the accident remain unclear and can not yet be quantified, but BP is ultimately responsible for funding the cleanup operations, analysts said. But the anti-spill operation implemented by the American state and the group is described by BP itself as "the largest in history."

The company has already implemented substantial resources (two drilling platforms, 32 boats, five helicopters, 1,000 persons, etc.). The U.S. Navy has provided seven booms and pumping systems for coastguards. Air assets are also mobilized.

After several failed missions carried out using robotic devices to help fill the leak, BP and the Coast Guard decided Wednesday to carry out "controlled burning" to limit the growth of the water cash advance loans. BP is now focusing on the establishment of a lid on the underwater drilling but the installation should take a month.

Stall Award

Sign that the situation is critical for the group: Stock investors have not waited to dispose of their shares.Since April 20, when the explosion of the platform, the BP shares have lost 12% to the London Stock Exchange, falling from 655.4 to 577.5 pounds.

Also listed on Wall Street, stocks dropped 13% BP and rate 52.6 dollars at the close of U.S. markets on Thursday.

After Exxon Valdez and Erika

In the history of oil spills can be compared with that of Louisiana, the disaster of the Exxon Valdez in 1989 in Prince Williams Sound in Alaska and the sinking of the Erika in 1999, whose responsibilities incumbent on Exxon Mobil and the French Total.

Exxon Mobil eventually pay only 500 million euros to force delays in judicial proceedings.The tanker had been sentenced in 1994 to $ 5 billion in damages to the 30,000 inhabitants of the region, the equivalent of one year's profits for the oil group.

At Total, the fine of 375,000 euros has been confirmed by the Court of Appeal in Paris last March. On the front of compensation payable to the 80 plaintiffs, Total paid 170 million euros.

British Petroleum is already the subject of a complaint by the shrimpers of Louisiana for "negligence" and "pollution". They require 5 million in damages.

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Contagion

But there are more serious.The contagion has now reached the full force of Portugal.

Moreover, the leading index PMI purchasing managers, the Institute established by Markit, found an acceleration of growth in activity. The first flash estimate of the overall activity index rebounded to 58.4, against 55.8 in March. The consensus of economists was expecting, according to Reuters, on 54.1.Services, down from the beginning of the year, grew more aggressively, to 57.8 in April against 53.8 the previous month.

However, "the decline in employment continued in April in the French private sector, bringing to 23 months duration of the current period of contraction," says Markit. "Some respondents attributed the cuts to restructuring programs."

"The high growth rates of new business volumes and the volume of outstanding work, suggest that the expansion will continue at a steady pace during the second quarter," says Jack Kennedy, economist at Markit.

It has these good results and promising of these forecasts, the Turkish prime minister's visit to France, boast of the advantages of its economy. Over two hundred French entrepreneurs must meet Recep Tayyip Erdogan Medef Wednesday afternoon.

France is the second largest foreign investor in Turkey, with 593 million euros invested in 2009, while Renault has traditionally absorbs about a quarter. All the major French companies now rely on the potential of the 17th world economy.Leroy Merlin opened last week its first store in Bursa, a city in the West, Alcatel has opened a research and development center in Istanbul in March, Accor already has eight hotels and Axa is the first insurance company .

The weak link of the French presence remains that of SMEs. Only 40% of the 325 French companies are SMEs, disability compared to the Germans or Italians. However, "intensive trade between the chambers of commerce and regional partnerships are being put in place," says Raphael Esposito, director of the French Chamber of Commerce in Turkey Guaranteed payday loans.The environment sector looks particularly promising: the investment required for compliance with European standards is estimated at 70 billion euros in the next decade.

GDF ranks in Istanbul

Last year, bilateral trade totaled nearly 10 billion euros – the goal is to reach 15 billion euros in 2012 – and France became the 6th supplier of Turkey and its second largest client. "The sales volume has risen despite the crisis, welcomed a Turkish businessman T?siad member of the influential business association. Tensions are benefits and political tensions between the two countries save us. " In 2006, a bill to criminalize denial of Armenian genocide triggered a boycott of hexagonal Turkey.Paris's opposition to its entry into the European Union is still felt in the public tenders. Gaz de France is in line for the privatization of gas distribution network of Istanbul. But it is the Koreans who have signed a preliminary agreement in March to build the first nuclear power plant in Turkey.

Finally, the Franco-Turkish partnership in third countries represent a new avenue of cooperation. The French can benefit from the settlement of Turks in the Middle East and Central Asia and the Turks take advantage of the French presence in North Africa.

In the absence of major economic indicators and publications of corporate earnings on Friday, investors should look back to Greece. The tension between Europe and the country led by George Papandreou weighed on markets.

Shortly before the opening of the Paris Bourse, the President of the European Central Bank, Jean-Claude Trichet, held a conference in Brussels. On Thursday, the United States issued a series of positive indicators. The CAC 40 ended the session down 0.50% at 3938 points.

The euro rose slightly against the dollar Friday after falling sharply yesterday, penalized by the continuing uncertainty surrounding a possible European plan to rescue financial Greece, facing a budget crisis without precedent.The single currency rating under 1.36 dollars.

The CAC 40 sees life almost any green

As for values, virtually all the CAC 40 spring up, with the exception of some values that are still hesitant, as Veolia (-0.33% to 24.52 euros) and Vallourec (-0.78% to 145 , 50 euros).

So they have penalized the CAC 40, Thursday, banking stocks posted on Friday, solid gains: Credit Agricole rose 3.19% to 12.61 euros and Dexia advance of 1.08% to 4.57 euros

After that Brussels has cleared EDF accused of abuse of dominance, the electrician's actions continue to increase: + 1.80% to 38.38 euros no teletrack payday loans !!!???!!!??? !.

EADS (+0.65% at 14.78 euros) has informed the Pentagon of its possible interest in participating in bidding for tanker aircraft for the U.S. Air Force despite the end of its partnership with Northrop Grumman, said Thursday the Pentagon.

Tidjane, the Director General of the British insurer Prudential, said Thursday evening to have declined a position as director of Societe Generale, saying want to focus on its proposed acquisition of the Asian subsidiary of AIG. Societe Generale shares advancing 2.12% to 45.60 euros.

Carrefour (+0.74% at 35.94 euros) announced Thursday the appointment of Vicente Trius the Executive Director responsible for Europe Belgium, Spain, Italy, Poland, Greece, Cyprus and Romania.The officer made the most of his career with the retailer Wal-Mart.

Belvedere (+0.71% at 29.93 euros): The spirits group said Thursday evening that its CEO had requested an appointment to the Chair of the Financial Markets Authority (AMF) to obtain explanation of the administrative order procedure launched by the regulator.

The Chinese authorities remain confident. "We believe that rising prices will remain moderate and controllable. So we must stabilize inflation expectations, "said a spokesman for the National Bureau of Statistics (NBS).

The owner of the Banking Regulatory Commission, Liu Mingkang, displays the same serenity: "Do not worry about inflation.The index of consumer prices and the index of producer prices could increase slightly "in view of the process" complicated "global economic recovery," but only moderate inflation is unlikely.

Still, the resumption of exports has caused a jump in industrial production by 20.7% over the first two months of the year. Investments in fixed assets (buildings, factories, equipment, …) it has boomed by 26.6% over the same period. Domestic demand is no exception, retail sales rose by 17.9% yoy in January-February.

Still, "we do not believe the inflation risk," wrote in a note Xu Bei, economist at Natixis. She recalls that the figures are distorted by a base effect, the statistics of early 2009 was very low because of the crisis."By comparing the price index of the beginning of this year compared to 2008, the price increase is only 1%."

The government, on the other hand, already started to tighten monetary policy to prevent a runaway economy and prices. It set to 7.500 billion yuan (800 billion euros) the level of loans does not exceed by banks in 2010, against 9590 billion yuan last year. The effect would be felt in February: Chinese institutions have issued 700.1 billion yuan this month, almost two times less than in January (1.390 billion yuan).

Only staff representatives voted against while Dominique Wolton abstained after proposing to delay the decision. Indeed, Patrick de Carolis, president of France Televisions has written his "tutelage" in this case Christine Lagarde and Fran?ois Fillon asking them to affirm the necessity of selling the board even though a number of parliamentarians proposes maintaining advertising day.The president of France Televisions would, however, felt it unnecessary to await the reply of the State to initiate this discussion and even exclusive it would be absolutely necessary for "guarantees" about possible conflicts of interest with a buyer St?phane Courbit, who is also a supplier of programs for antenna France Televisions payday loan .

Side employees and representatives are upset that the proposals of the candidates certify the absence of socially for three years for the Metropolitan France. They argue that the end of the pub on their RFO does not give sufficient guarantees in respect of employment.

"We have a bitter taste," said the representatives of the CGT – the majority union at France Televisions."We feel that the assets of the company is sold off and we find this shocking distinction between employees of the Hexagon and those DomTom. Finally we fear that in a few weeks all realize that this assignment was useless because of changing legal requirements.