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.

After biting the nose in the first hour of trading, the benchmark index of Wall Street still has erased much of its losses. At closing, it fell by 0.56% to 10,213.62 points. The S & P 500 fold, from 0.37% to its 1071.69 points. While the Nasdaq managed to regain the green, scrounge 0.04% to 2179.76 points.

U.S. stocks have relapsed this week, especially Thursday and Friday amid renewed fears of further slowdown in activity, even recession.

"There is an internal struggle within the market right now, between the flow of economic indicators is rather disappointing for 48 hours and the balancing force that represents the multiplication of impressive announcements of mergers and acquisitions," noted Craig Peckham, Jefferies ."The market tries to anticipate a downward revision to corporate profits, which has not yet taken place, added the analyst.

Thursday night the U.S. stock markets were sharply accused the coup after the publication of bad numbers, especially on the employment front. In fact, new listings weekly unemployment rose by 12,000 for up to 500,000, while economists had forecast a drop instead. This setback has undermined all European stock exchanges, down nearly 2% on Thursday evening. The stock, Wall Street head, are more worried about the U.S. recovery is becoming increasingly threatened, yesterday, two other macroeconomic indicators have further disappointing disappointment consecutive ill-digit unemployment in the industrial activity Philadelphia region has not improved as the markets would have liked.The composite index of leading indicators the Conference Board is certainly left in timid increase, but suggests "a very slow recovery until the end of the year."

The earnings season gives way to mergers and acquisitions …

On the corporate side, while all the companies in the Dow Jones have now released their quarterly earnings, mergers and acquisitions also certainly inspire markets.But if they reassure investors about the health of businesses able to play cash on the table, they can not counter the extreme distrust aroused by signs of a growing number of weak U.S. recovery.

GAP (2.48% to 18.15 dollars) is reaping the fruits of this Friday's announcement the day before the quarterly earnings above expectations, thanks to the rebound in sales recorded by its brands Banana Republic and Old Navy.

PT (-0.86% to 40.42 dollars) and Dell (0.11% to 12.05 dollars) will be closed on the ball quarterly results.HP has shone with a quarterly profit up 6%, and Dell has not been left behind, with sales and earnings above expectations for the second quarter and expects a continued recovery in demand professionals for PCs in the coming quarters.

The world leader in microprocessors, Intel, announced on Thursday that he offered the world's number two computer security, Mc Afee (-0.07% after 57% yesterday), $ 7.6 billion .

While the hostile bid from BHP Billiton (-0.97% to 66.70 U.S. dollars) Potash (-0.75% to 147.72 dollars) continues to make waves on the Stock Exchange (Fitch Ratings has put on hold BHP Billiton), the offensive yesterday from Dell, the German publisher of software Wirecard rose Friday on the Frankfurt Stock Exchange after the entry by traders of a possible interest of Visa for the company.The title Wirecard advanced 2.05% to 8.71 euros while the action Visa German Stock Exchange fell by 0.35% to 55.69 euros. Visa back on Friday from 0.39% to 71.35 dollars.

Boeing (-0.59% to 64.24 dollars). The United States announced Thursday that they were using, like the European Union a month earlier, the ruling in June by the World Trade Organization (WTO) in the dispute over public funding for the aircraft manufacturer Airbus. It was also learned that Thai Airways talks with Boeing and EADS for 30 aircraft

There are records after which China does not run. Inducted largest consumer of energy in the planet by the International Energy Agency (IEA) earlier this week, the Middle Kingdom has denied the figures of the organization Tuesday. "According to our calculations, the U.S. was still the world's largest consumer of energy in 2009," said Zeng and Yachuan, a spokesman for the National Energy Administration. The IEA estimates that China consumed 2.252 billion tons of oil equivalent last year, or 4% more than the United States. Beijing assesses its own consumption at 2132 million tons oil equivalent. Paris-based IEA said its figures were preliminary, but they draw a definite trend. For instance the Chinese, the organization's data are "not reliable" and overestimate emissions of carbon dioxide.

These statistics do not serve China, criticized by the international community for its commitment in chilly environment. Last year, Chinese leaders have promised a cleaner growth by reducing their emissions of greenhouse gas emissions by 40% to 45%. per unit of GDP by 2020. China is currently lagging behind, with improving its energy efficiency by 1.7% per year over the past decade, against 2.5% for the United States, according to the IEA.

Renewables

Despite its image as a bad pupil, the People's Republic seeks to develop renewable energy, always concerned about its growing dependence vis-à-vis imports of raw materials, especially oil online payday advance.In 2009, the government has installed capacity of 37 gigawatts additional generated by renewable energies, either the most important effort made in this respect in the world, according to the IEA. An effort record but insufficient for the required 1000 gigawatts in the next fifteen years. For Fatih Birol, chief economist of the IEA, if China wants to avoid blackouts, it will invest 4 trillion dollars in the energy sector in twenty years.

It must be said that China's needs following an exponential trajectory, with already five years ahead of schedule. Ten years ago, the Middle Kingdom was burning only half of U.S. consumption. This year, he is sure to dethrone Japan as second largest economy. And Chinese factories continue to fuel up.The Ministry of Industry and Information Technology said Tuesday that growth in industrial production could exceed 11% over the full year 2010, a figure higher than the target of the central government.

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Eiffarie owned by Eiffage and Australia's Macquarie have after the operation 95% of APRR. The subsidiary also plans to launch a buyout offer, that is to say that APRR would no longer be quoted on the Stock Exchange (right when the majority shareholder holds more than 95%).A project must receive the blessing of the AMF to be realized.

If this is implemented, and upon its conclusion, it remains on the securities market, these shares would then be a squeeze, which will be performed at the same price of 54.16 euros per share: 84 cents per share are restated as it is the amount of the dividend qu'Eiffarie decided to pay shareholders of APRR June 30 next.

The transaction is expected to close by the June 24 APRR listed on compartment A of Euronext, flies too, from 7.65% to 54.75 euros.

Eiffage and Macquarie have finally heard

The two shareholders of Eiffarie seemed irreconcilable. On this issue, in fact, Eiffage wanted to make a capital increase of 400 million euros in APRR, here just one year.One way to avoid a deterioration of its financial rating would increase the costs of refinancing. Macquarie's refusal earlier this year.

Use markets? The CEO of Eiffage, in turn, rejects the idea. The stock market conditions are too uncertain. Another option would be to buy back its shares in Eiffarie. But Macquarie had not responded.

Investors enthusiastic

"The acquisition of the balance of APRR is positive news for Eiffage.The group can calmly deal to refinance Eiffarie 2013, "commented analyst Aurel BCG, for whom this would be" accretive by approximately 3% based on Eiffage tax integration we estimate that approximately 70 million euros.

Indeed, Eiffage will benefit from the tax integration: from 1 January 2011, interest paid on debt to acquire Eiffarie * – 3.77 billion – will be deducted from the tax base APRR, say the strategists Natixis Securities. In addition, the tax losses generated by the interest paid on this debt between 2006 and 2010 will be tax deductible APRR, they said. For them, the economy reached 314 million euros. APRR, in fact, will not pay tax according to their estimates.

* Eiffarie, had been chosen by the state in late 2005 during the privatization of Autoroutes Paris Rhin Rhone (APRR).

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But on Monday, the atmosphere should be more relaxed, even if the night was tough for the leaders of the European Union. He has established a plan to help the euro area, and obtained from Spain and Portugal to announce new measures to reduce their deficit. Around 2:00 am, the EU finance ministers agreed on the establishment of a "European stabilization mechanism designed to preserve financial stability in Europe."

Warm welcome in stock: Asian stock markets move in the green Monday, and European markets should be reassured that Monday morning.Around 8:00, the futures contracts expire in May predicting an opening up of more than 4%.

However, gold continues to rate at its highest, indicating that investor nervousness remains high.

Michel Barnier on Wall Street

On Monday, the Bank of France must publish at 8:30 its business survey in industry for the month of April. Fifteen minutes later, INSEE unveil industrial production in March in France. In Germany, foreign trade in March will be monitored

In Europe, the "World Economic Forum opened on Monday for two days.Moreover, in the afternoon, Michel Barnier, European Commissioner for Financial Services, will deliver a speech on Wall Street Fast Cash Without a hassle.

Veolia confirms its objectives

Side values, Veolia Environment has issued Friday a consolidated sales down 4% at current exchange rates and 3.1% at constant exchange rates for the first quarter of 2010, to 8.7 billion euros. The group confirmed the targets set for 2010, namely "to generate a positive free cash flow after payment of dividends and earn a recurring operating income up."

Eiffage reported a sales decrease of 4.2% to 2.9 billion euros for the first quarter of 2010 due to declining revenues in its construction division due to weather at the beginning of the year.

Euler Hermes has announced a net profit almost tripled in the first quarter to 47.6 million euros, and confirmed he expects this year's results improved.

Orascom and France Telecom have unveiled Sunday details of the agreement they reached on their holdings in Mobinil, at the request of the Egyptian market regulator.

The Japanese company Toray Industries, a specialist in textile and carbon fiber, announced Monday it had reached an agreement 15 years until 2025, an unspecified amount, with the European aircraft manufacturer Airbus for the supply of composite, especially for the A350.

They want, and Europeans with them, the Chinese revalue as soon as possible their currency, the yuan, which they believe deliberately manipulated and undervalued by the government to help exporters in the Middle Kingdom.

Beijing denies it. "China has never used this alleged manipulation to try to make a profit in international trade," Jiang said again Tuesday, the spokesman for the Foreign Ministry.

The standoff lasted for months, but today the United States understands that China will not want to lose any face. So they are reaching him.

The last weekend, the same Timothy Geithner, who, ironically, was the first to talk about spin in January 2009, decided to postpone indefinitely the publication of a report, scheduled April 15, which would place at the Chinese on the spot (our editions of April 5). Better, in India he pleaded on television for one yuan, which "assume over time a wider international role."

Widening the floating band

Why the turnaround? Because Americans know that the Chinese are themselves driven to revalue their currency.It is necessary to restore purchasing power to households, boost domestic consumption and allow the latter to take over from exports can no longer be its sole source of growth.

In China itself, more and more voices are also heard in favor of a readjustment of the currency. After several officials of the central bank, the National Development and Reform Commission (NDRC) has clearly outlined Wednesday a yuan appreciation.

And for his part, Ba Shusong, an economist at the Financial Research Institute, near the Chinese government estimated a few days ago that indexing the yuan to the dollar was an "emergency measure doomed to disappear."

Beijing may expand the first band in which he floated the yuan against the greenback.Today at 0.5% above or below the level of the dollar, this band could rapidly increase to 1%, before considering a stall.

Chinese President Hu Jintao should have the opportunity to talk with his U.S. counterpart, Barack Obama 12 or April 13 on the sidelines of an international summit on nuclear security in Washington.

But now, in Beijing, voices are heard to say that the decision r??valauer the yuan has actually been taken in high places.

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The winners of the 2010 edition were selected from more than 440 projects emerging. They are part of a new digital world where the Internet becomes ubiquitous.The URL can not be visited more but found himself. Many objects become key input into an ecosystem where real and not real live. Databases and servers are scattered, software and outsourced services, terminal dematerialized. The interface for mobile augmented reality Sixth Sense allows to browse the Internet with a virtual screen projected by a minicam, dial a phone number in the palm of his hand or view a video on a newspaper article. Accessible from anywhere, this new Internet makes the user knowing. With mobile browser layar augmented reality, any building or environment is an opportunity to unwind "layers of virtual information.Augmented with TAT ID, the user can display a variety of virtual cards and virtual social networking profiles around her face, free to the caller to download this information.

Freeing the user of the computer

This ecosystem is emerging as new human-machine interfaces capable of freeing, ultimately, the user of the computer or a smartphone. The aircraft of the future will respond to a voice command, gesture or brain. The French HiLabs has already begun to deploy an intelligent window on the windows of merchants Grenoble: responding to displacement of people, she then called by a movie, the way to interact with one giant touch screen (Eyelights).

On the Internet also should be contacted individually to the consumer.Social networks like Facebook and Twitter is why a "hunting ground" ideal marker there conversations on Internet brand and integrate it with an ad campaign that takes account of these opinions (People Powered Ads).

In this new digital world order, and environmental organizations are impacted first. The technology can learn to change and therefore it is the creed of Source Map, which shows the carbon footprint of a product or a food or Mobile Lucas, who turns the mobile phone Minilab analysis medical use and particularly to distinguish true and false cases of malaria.

Similarly, the Better Place project relies heavily on intelligence network, able to indicate to drivers of electric cars recharging station nearest, then manage the transaction load and billing.At work, it calls for transparency on the powers of his future employer to decide to change. What improve individual productivity or collective, as the founder of the website Get a Great Boss. In parallel, microt?ches can be relocated and create microjobs for solidarity: the draft Work Give an iPhone application developed by Samasource, which proposes to perform computing tasks mechanical ( "tag" a video detailing card, test application) by refugees from Dadaab camp in Kenya. Initiatives that, once industrialized are likely to reverse the tide.

"We are extremely sorry for having caused discomfort to customers," said president of the Japanese group, interviewed on the sidelines of the Davos Forum in Switzerland. Toyota is looking for reasons for the problem and explain to customers to allay their fears, "he added.

Up to 1.8 million: the number of cars sold in Europe that the Japanese car manufacturer Toyota will recall at its plants, a lack of accelerator pedal already detected in the United States, Canada and China .Toyota had announced the recall Europe before yesterday, but without the encryption.

Eight models concerned

A statement from Toyota, "the precise number is still under consideration, but could reach 1.8 million vehicles" recalled in Europe. Eight models are concerned: AYGO, iQ, Yaris, Auris, Corolla Verso, Avensis and RAV4. But "no Lexus or any other Toyota model is affected," says the group.

The cause of the recall is a defective design of the accelerator: in some cases, the pedal may stay locked in position down free credit report .The same problem has already caused the recall of 270,000 cars in Canada, 75,000 in China and 2.3 million primarily in the United States, where the group has even had to suspend production and sale of eight models, an unprecedented step.

"There is no need or intention to stop production in Europe," says Toyota Friday, who said he uses the more contentious parts for cars sold on this continent. The Japanese group says he tries to normalize the situation as quickly as possible, saying he has "found a solution to the problem" and that it will provide instructions to all its customers when its effectiveness will be verified .

Tadashi Arashima, head of Toyota Motors Europe, has also tried to reassure by saying that the accelerator problem "happens only in very rare circumstances.The action announced is a preventive measure, intended to ensure the highest standards of quality for all consumers. " "We recognize that the current situation creates concern, and we deeply regret," he further stressed.

• Ceiling overall tax loopholes

For income received in 2010, a taxpayer may not reduce their income tax using the tax loopholes (working from home, child care, grants to associations, Scellier …) beyond an amount equal 20 000 plus 8% of its taxable income. Introduced in late 2008, the overall ceiling was far more generous, to 25 000 plus 10% of income.Taxpayers who use the niches Dom-Tom, Scellier, or devices for tourist homes have a respite: they have signed an investment commitment before December 31, 2009, they escaped the drop in overall ceiling .

• Act Scellier

The reduction of income tax, taxpayers enjoyed buying a new home for rent under certain conditions, remains at the same level as in 2009 – representing 25% of the purchase price – for homes purchased in 2010 that they meet or not the standard "building low-power" (BBC). The "greening" starts from 2011 for non-BBC dwellings, the tax cut to 15% next year and 10% in 2012. For homes BBC, it remains at 25% in 2011 and then fell to 20% in 2012.The Scellier disappears at December 31, 2012.

For new housing, the loan rate zero (PTZ) was doubled in 2009 and will continue until June 30, 2009. Photo credits: Pascal SITTLER / REA

Born April 7, 1930 at The Gacilly, a village of Morbihan which he was the mayor (various right) for forty-six years, from 1962 to 2008, Yves Rocher has played the card environmentalist before his time. Having passed through small ads in "Ici Paris" ointment hemorrhoids cons including a Breton healer gave him formula, he founded the famous brand of cosmetics in 1959, supporting its development on the choice of "beauty through plants' and refusing any synthetic product.

In 1965, Yves Rocher is launching a "Green Beauty", now translated into over twenty languages. Focusing initially on sale at a distance, it opens three years later the first store. The following year, he sets up shop in Belgium.After leaving the reins of his business to his son Didier in 1992, he took control in January 1995 after the accidental death of the latter.

"A French industrialist," according to Nicolas Sarkozy

Present in about thirty countries, the Yves Rocher Group achieves a turnover of 2 billion euros, placing it in 18th place worldwide in this sector. Its turnover is three times larger than The Body Shop, its direct competitor bought in 2006 by L'Oreal. Claiming to be "financially healthy, profitable, low debt, despite recent social movements, the group employs over 15,000 people, has nearly 2,000 stores and boasts over 40 million customers.

Saturday, President Nicolas Sarkozy paid tribute to "a French industrialist, inventor of the cosmetics made from plant products and a pioneer of the mail.Yves Rocher, adds a statement of the Presidency, "had managed to build step by step a group serving the beauty of women, invested in the development of sustainable employment and environmental protection, particularly through the Yves Rocher Foundation-Institut de France. "