Rollaway odd jobs "black" companies "forget" to declare certain benefits … The small and big tricks to earn more without paying taxes or social security in developed countries are becoming increasingly common thanks to crisis. In escaping the state controls, individuals like firms engage in what economists call the informal economy, or underground.

"Because of the economic crisis, the shadow economy in 2010 will have increased in developed countries, after rising in 2009, wrote in a recent study by Friedrich Schneider, Austrian economist and specialist in the informal economy. According to his calculations, the share of the unofficial economy in the gross domestic product (GDP) in OECD countries rose by 13.3% in 2008 to 14% in 2010.In France, this ratio increased from 11.1% to 11.7%.

The increase may seem small, but it puts an end to the downward trend going back to the late 1990s. The Baltic and Mediterranean European countries experiencing the highest ratios. The shadow economy represents 25% of GDP in Greece and around 40% in Latvia and Estonia, as the work of Schneider. So many countries where the crisis hit harder than elsewhere.

To compensate for loss of income

Job losses, layoffs … revenue base with the crisis. "Many people try to compensate for their declining revenues through greater participation in informal transactions," says Friedrich Schneider.Among the top sectors fueling the underground economy, are the building trades and crafts, including the restoration, "he observes.

The underground economy is not always a bad thing. "I think the increase in informal activities during a crisis can avoid a recession even greater," said Friedrich Schneider. "Individuals and businesses earn more money, they can spend in the formal economy."

Fraud Investigations

In the Directorate of Legislation, recovery and service (Dirr), we measure the effects of the crisis on French companies thanks to anti-fraud investigations conducted in 2009. "A society that has problems is more likely to be in violation," said executive vice president of control, Jean-Michel Guerra.

To avoid bloodshed, but the controllers have been instructed to be conciliatory. The time granted in 2009 to companies in trouble when adjustments on previous years, usually stable, jumped 58%. Still, delinquencies have increased during the recovery of a half point, to 1.45%, from 12.5 billion euros.

One last figure: last year, the number of minutes prepared for working illegally jumped 27%, in part, it is true, thanks to control operations more focused and more frequent. The crisis should be felt in the figures of the anti-fraud encopre for several years. The controls on the activities of companies are indeed made for two to three years thereafter.

Your money banks interested again. The financial crisis, coupled with new regulations "gave all the players in the taste of traditional trades, collection of savings and lending, far from the glitz and the pitfalls of corporate finance and investment .

Against this backdrop of growing competition that the group-BPCE about 20% of retail banking in France-muscle ambitions. "We want to win market share," insists Olivier Klein, CEO of commercial banking and insurance BPCE since 1 April.

For the first time, in fact, the group born of the merger of People's banks and savings banks in 2009 was appointed a pilot common to both networks. But out of the question specialize signs, Savings on individuals and Banques Populaires on SMEs and professionals.

"These are two strong brands that do not say the same thing. The client does not confuse them and he chooses, "says Olivier Klein. And he concluded: "The 20 Banques Populaires and Caisses d'Epargne 17 are competing with each other on their own territory. The synergies are generated upstream in the production subsidiaries of which are shared in information systems or purchasing, for example. "Conquest through major campaigns such as that recently launched on the Squirrel young.

Reflecting on times

However, it is to protect margins. "We have no strategy to lower mortgage rates or increase deposit rates in order to take market share.We are already very competitive, "says the former head of the Caisse d'Epargne Rhône-Alpes, relativize:" The rates are not determinative paydayloans. Customers want especially well taken care of them. "

For him, in fact, "the revolution is accelerating customer" with individuals and other professionals who want butter, eat it, too … and the smile of the banker.

Mesh agencies, remote access and advisor, the banks must offer everything. Hence, a meticulous adaptation BPCE the group boasts of having initiated all directions. "Some Savings reflected at their hand on schedule to deliver on time can make appointments later to better serve the needs of large cities," reports Olivier Klein.Meanwhile, "we launch all channels of distribution: the bank on mobile, ready to Savings, will be in September at the Banques Populaires. It adds "a lot of work ergonomics to facilitate online purchases, such as life insurance contracts. Some banks have created BPCE equivalent of bank branches 100% online. At the same time, the computer must be reviewed to allow salespeople to track customers realize that their operations remotely. All these facilities where other signs seem more advanced. Decentralization own mutual groups do not promote rapid implementations.

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The talks promise to be lively this weekend in Toronto, Canada. Indeed, at a time when opening the G8 summit followed the G20 this weekend, the participants have already stated their differences. The International Monetary Fund (IMF) published its "Ten Commandments" for developed countries to help them reduce their public deficits. The institution advocates the lower ratio of debt to gross domestic product (GDP) and the rapid adoption of reforms of pensions and health insurance, saying the current system "not viable". For its part, the World Bank puts the G20 in warning against a decline of international aid.According to her, "continued favorable investment growth in infrastructure and human capital in a context of declining tax revenues will be especially difficult if the current financial and economic causes a decline in international aid and increased competition for global savings collect ".

Tensions Europe-USA

Fiscal policy is most appropriate in this period of feverish economic recovery does not unanimous. Two camps. On the one hand, the United States continue to warn against their European counterparts the implementation of drastic measures to reduce deficits, negative effects in a context of slow growth recovery instant payday loans.On the other hand, Germany and the United Kingdom both advocate the establishment of strict policies and able to quickly reduce debt levels and thus avoid repeating the same scenario as in Greece. Already, the British Prime Minister David Cameron has claimed he wants to avoid making a single event in Toronto "salon where they cause". In an article published in the Globe and Mail, he called on participating countries to take action.

Burning issue of the yuan

And it's already done China. While the international community, particularly the United States, pushed for China values its currency, the country has lowered its reference rate of exchange to its lowest level in five years this morning, thus enhancing the value of the yuan against the dollar.The institute has decided on a central rate up 0.3% to 6.7896 yuan against the dollar.

In addition, banks expect to them, to have won a battle in convincing the Basel Committee to reduce the level of capital adequacy requirements. The regulatory measures affecting them shall be presented this weekend as part of the debate on global financial regulation.

Pointed to unanimously, the British oil giant BP, the oil rig Deepwater Horizon has exploded a week ago off the Gulf of Mexico must manage a crisis of unprecedented magnitude in the unfortunate history of oil spills .

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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According to Les Echos, the investment holding Eurazeo envisage conducting a capital increase of around 500 million euros. This point was addressed in the supervisory board but Eurazeo declined comment. This fundraiser would Eurazeo to make future acquisitions.

Recently, several funds have made large acquisitions, including three over 500 million euros, which have been well received by markets. There was the takeover of Sebia by Cinven for 800 million euros of the Spotless by BC Partners for 600 million and Astorg entered Gras Savoye up to 500 million. Eurazeo would not miss the recovery.

In announcing its 2009 results in March, Eurazeo had 704 million euros of net cash by allowing its chief executive, Patrick Sayer: "consider opportunities to enter and support our interests in expansion.

For some, Eurazeo could resume portfolio assets of a competitor. The company is already a shareholder among others, Rexel, Accor or Danone.

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The U.S. treasury secretary, Timothy Geithner, an official visit to India, made a surprise on Wednesday by announcing he was going to Beijing today to meet with Wang Qishan, Deputy Prime Minister for Economic Affairs. The move was kept secret until the last moment. But the timing of Americans is carefully timed.

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 CAC 40 ended on profit-taking Wednesday night at the end of March, and has gleaned 1% since 1 January of the year, the benchmark index of Paris will start the month of April by increase comfort, from 1.17% to 4020.44 points, passing over the helm of the 4,000 points in early trade.

The index is torn between Wall Street was disappointed Wednesday by job losses in the U.S. and Asia, which is displayed at the Green on Thursday morning (the Nikkei is at a high of 18 months and closed up 1.39% at 11,244 points).

On Thursday, France, today's figures are mainly in the automotive market in March quarter 2010 and first published by the Committee of French Automobile (CCFA). The market has been strong in March.

In Euro Zone, the manufacturing PMI will be scrutinized closely.

While in the United States, the weekly claims for unemployment benefits will help interpret the figures published yesterday on the job. The ISM index of manufacturing activity in March will be highlighted in 16 hours and is always carefully considered by investors. At the same time, construction costs for the month of February will be unveiled.

Sperian flies more than 15%

The Minister of Economy Christine Lagarde was heard on Wednesday with his German counterpart on financial regulation, to tax the banks. Berlin wants to impose this tax at EU level and internationally, with the support of Paris. In Germany, such a tax would yield 1 to 1.2 billion euros per year.

Another area for this Thursday, the wind, while the industrial expressed interest in energy.A report conducted by Capgemini Consulting, presented on Wednesday, lists 150 companies interested in wind power.

Technip (3.04%, to 62.03 euros) announced Thursday it had won two contracts in India for "engineering, procurement, construction and commissioning of a generating unit hydrogen. The two contracts totaling approximately 115 million euros.

Sanofi-Aventis (0.98%, to 55.73 euros) won his fight against the counterfeiting of its generic drug Eloxatin, the United States. "Under the proposed agreement, the manufacturers would stop selling Generic generic oxaliplatin 30 June 2010 and would resume sales as of August 9, 2012 under a licensing agreement," said the pharmaceutical giant.

New episode in the case of U.S. tanker aircraft.The Pentagon announced Thursday that the tender of the U.S. Army will be extended by 60 days, to allow EADS to apply. EADS shares up on Thursday from 1.54% to 15.13 euros.

Outside the CAC 40, the private equity fund Cinven presented yesterday its plan to bid on friendly Sperian (15.38% to 70.05 euros). The offer price is 70 euros (1 euro slip attached). Cinven would start operation by the end of April. Natixis Securities estimates that the news is good.

Later publications, the real estate developer The New Builders (LNC) announced Thursday that he had returned to profitability in 2009 with a net profit of 10.9 million euros against a loss of 45.5 million euros in 2008 , which was the first for fifteen years.The shares give themselves 10.80%, to 7.59 euros.

Information known Wednesday evening said that the listing of the Barri?re group will take place before summer. The IPO process of Groupe Lucien Barriere started.

Manitou will publish Thursday.

The Paris takes the initiative. It hosts an ambitious project to organize the market of CDS (credit default swap) for the euro area. These swap against the default risk of a third party have been accused, especially during the Greek crisis, making the game of speculation and amplify shocks to the markets. Their trade OTC accentuating the impression of opacity. For over a year, the G20 called for regulation. The French authorities have taken for themselves the message, advocating a specific solution to the eurozone.

The appeal was heard by LCH.Clearnet SA, the Paris branch of British group. It was launched Monday a platform for the clearing of credit derivatives in euros. For this one day, twenty operations, which were recorded Friday were treated to a total of 220 million euros.The clearinghouse secure participants (counterparties), ensuring that the warranty providers are creditworthy. For now, she can count on the support of four major French banks: BNP Paribas, Societe Generale, Natixis and Credit Agricole. It's already better than his competitor for the euro area, German Eurex, with only two users, the Italian UniCredit and the Japanese Nomura.

"With the involvement of French banks, this platform is hoped to position itself as the first euro zone," said Jean Tricou, director of investment banking and market to the French Banking Federation easy payday loans. Deutsche Bank, JPMorgan and Goldman Sachs to carry three of them, 40% of the CDS market analysis Christophe Hemon, the CEO of LCH.Clearnet SA.Our goal is to attract at least one of its establishments, and ideally all three. "

Counters of the ECB

The governor of the European Central Bank, Jean-Claude Trichet, has repeatedly stressed the importance for the euro area to have its own clearing house, so they benefit from direct access to refinancing by euro, with ECB counters. It is also for European regulators to access information on transactions made on derivatives, potentially systemic, and are now mostly available from London and American actors.

"This is an important first step. We must expand these efforts to compensate for all derivatives markets over the counter, by anchoring infrastructure in rural Europe.It is not only an issue of European regulation but also competitiveness, "emphasized Jean-Pierre Jouyet, chairman of the Financial Markets Authority (AMF).

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Alstom! President Nicolas Sarkozy will never tire of telling Sarkozy the Minister of Finance in 2004. Whoever saved Alstom decommissioning by the German Siemens. He never ceased to recall this episode, during countless visits to factories. It is true that the rescue of Alstom was the founding act of Sarkozy statist. Finally, more along the lines of Napoleon III and Saint-Simonian as laissez-faire and ultraliberalism which accused his opponents.

During the 2007 campaign, the candidate Sarkozy has never released this theme. He was seen walking the plant “more than all the candidates from left, like he repeats, in criticizing the years Jospin, when the Socialists attempted to explain that” the State can not do everything ” . This direct contact, rough, with workers in their production sites became “the” visual signature of the candidate in 2007, and the new president.

So much for the rhetoric and symbols. Regarding acts, the Elysee said that the States General of the industry are a step in a long list of initiatives that have already been implemented. Since four billion research tax credit (CIR) voted in 2007, affecting 80% industry, until the reform of business tax – offset by the Parliament – through the great debt, and creation of a Strategic Investment Fund (ISF), excluding the merger of GDF with Suez. Sarkozy believes that it has twice as hard on the industry since his election. And if the results are awaited crisis requires, the Elysee said that “for the first time, the market share of French exporters in the euro area began to recover after more than ten years of decline” payday advance lenders .

This intervention, he claims, is intended to continue and even increase. Because, says the head of state is what the public expects of him. The closure of the plant Gandrange folder in which he pledged personally, was not well received, even if the workers have been reclassified. Result, he does not hesitate to push his Minister of Industry, Christian Estrosi, nothing to loose on sensitive issues such as Molex, Heuliez or Philips. A few days ago, he also lobbied for Christophe de Margerie as Total – a group 100% private – do not touch its French refineries, but overcapacity.

The new milestone was reached Thursday: the reorganization of the state shareholder. More questions to leave as much freedom as before to companies in which the state has an interest.In announcing that henceforth, a representative of the Ministry of Industry or ministry will be named “systematically” the board – next to the administrator of the Agency for State Participation (EPA) — the message is clear: the state will no longer have eyes only on its financial business, he also wants a say on strategy. The Elysee said that this concerns mainly La Poste, France Telecom and Renault …. What could prevent future, Carlos Ghosn is urgently summoned to the Elysee when the guidelines that the CEO wants to take his automotive group is not to the liking of its largest shareholder …

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All the big names in the electronics world is found in Las Vegas. All except Apple, which looks January 27 to make a revolutionary new listing, which may take competitors by surprise.

Since late 2009, it seems clear that the firm will make an apple Internet Tablet to be called islation. The announcement will take place in late January, because Apple has rented a conference room in San Francisco. But the date of its Internet Tablet, which would have a multi-touch screen 25 to 28 centimeters diagonally, is only scheduled for the second quarter of 2010. Indeed, one of the subcontractors Taiwanese Apple said establishing a production of screens and aluminum chassis which should start next month. "It will not take long to assemble the different elements.But output in the second quarter is what we envision, "said an anonymous source to Reuters.

It seems that islation, including a video circulated on the Internet is the answer to Apple's digital media books. It is the first color. This could lead to the creation of a new department of sales on the iTunes website.

Competitors eclipsed

But it would be difficult to know now than to give this one new activity. The new product Apple should allow you to download applications, listening to music, watching movies, into a true entertainment product while traveling. It would be more appropriate than the iPod touch and iPhone, whose screen is too small (9 cm) to qualify for comfortable vision. Islation with the Cupertino company remains true to its business model winner.It sells very expensive and a revolutionary product takes the services market (music, video, books …) that are downloaded on this product. Exits to sell these services at very low prices. Consequently, when Apple makes money, the service providers do not share the crumbs.

This ad may overshadow those of its competitors have made in Las Vegas. Last week, new Internet Tablet, which is a kind of PC without a keyboard but with a multi-touch screen, were presented by almost all PC makers. Among them, the Chinese Lenovo freed from Intel and Microsoft opted for the chips Qualcomm U.S., of Britain's ARM and a Linux operating system. But these are, after all, only computers that are trying to rise from their ashes. Five years ago, a first wave of Tablet PCs had appeared before dying for lack of customers.