Spain has raised Thursday about three billion euros of fresh money in bonds and 15 years, allaying fears of the markets on its ability to find funds to repay a debt. Demand for the securities has been over two and a half times greater than supply, a sign of great success. The average interest rate of bonds stood at 5.116% during the operation faxless cash advances. The coupon will be finally served 4.65%, a high price without being dramatic. In April, the average rate was 4.43% for bonds of the same type. After this successful auction, the yield difference between bonds and ten-year Spanish and German Bund reference narrowed. The success of the operation also supported the course of the euro.

A potential policy holder should always study their life insurance quotes carefully and all terms contained within them should be properly understood before any final decision is made.

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.

The tone rises between the administration of Barack Obama and BP. The head of the American branch of the oil company, Lamar McKay, said Tuesday at a hearing in Congress, he refused to promise the creation of an escrow account to compensate victims of oil spills in the Gulf of Mexico. The $ 20 billion has been raised in a letter to the CEO of BP, Tony Hayward. "I am not able to tell if an account is established or not," said Lamar McKay. "I can not commit, either one way or the other"

The idea had been raised by the White House. Several members of Congress while announcing their desire to put pressure on BP to put it in receivership on payment of its dividend in order to ensure compensation for victims of the disaster, compared to a "September 11th green" by Barack Obama.

According to the White House press secretary, Robert Gibbs, is already preparing the risposta in the Oval Office. Barack Obama will "be forced either to reach an agreement with BP to withdraw their control of the process of claims and entrusted to an independent structure, so that people who have been harmed to obtain the money they is due, "said the spokesman. The administration is based on the polluter pays law in force in the United States, which requires BP to pay the costs of plugging the leak of oil, cleaning the polluted coastline and compensation for victims.Traveling in Pensacola Beach, Florida, Bush assured the residents affected by the oil spill that would "whatever it takes, as long as it takes to be sure that BP is paying for the damage that it has caused.

An oration

President Barack Obama has formally addressed his countrymen on Tuesday at 8:00 p.m. (2:00 am, Paris time). He will be speaking from the Oval Office of the White House, space reserved for the most serious crises and whom he'd never used a speech to the nation.

A senior, Bush will announce the appointment of a person responsible for restoring long-term disaster areas by the oil spill that pollutes the Gulf of Mexico. The "czar" as the American press dubbed the mission will be to "restore the Gulf of Mexico.Not to where it was the day when the accident occurred. But to restore it to where it was years ago: to increase the life and vitality of the species, wildlife and natural beauty that characterizes the Gulf of Mexico, "said Robert Gibbs.

Barack Obama will set out above "the need to reduce our dependence vis-a-vis oil and fossil fuels. He will also discuss the "changes necessary for such a disaster never happens again more. According to an anonymous source, the U.S. president will "present the measures taken to protect those who suffer financially from this disaster, especially during the process of compensation."

"The tragedy was avoidable

Under pressure, BP must also face competition that dares to push it."I am convinced that the independent investigation will show that this tragedy was preventable," and called John Watson, head of oil company Chevron to members of the Committee on Energy and Commerce House of Representatives. The explosion and the sinking of the platform in late April Deepwater Horizon "show once again that all companies must work under the same strict safety and reliability. It is obvious that not following these rules has serious consequences, "he added.

"It is imperative that an investigation expert, impartial and comprehensive investigation takes place, because this incident represents a serious breach of standards relating to offshore drilling, for his part stressed the boss of ExxonMobil, Rex Tillerson .

In addition to the Chevron boss and ExxonMobil, ConocoPhillips and Shell were present. Facing them, Lamar McKay attempted to defend his group."I want to make things clear: BP will know no rest until the wells will not be under control and that we do not understand what happened," he said.

Ficth puts his two cents

BP has several weeks to manage its bad reputation. The group would also relies on advisers to help him. The efforts required will be considerable, especially since the rating agency Fitch has come to contribute to the debate on Tuesday, lowering the notches of six notes of the British major. The latter is now BBB AA cons. Fitch maintains it under "surveillance implications". The rating agency is particularly concerned that BP may be forced by U.S. authorities to place large sums into accounts in receivership.This is the first time that the note of BP is lowered several notches by the three leading rating agencies worldwide and it falls below the AA.

At the London Stock Exchange, BP shares ended the session on a further drop of 3.78% to 342 pence while the FTSE close up on 0.30%. In New York, the action is able to earn 2.18% to 31.31 dollars during the session on a market up 1.22%.

ALSO READ:

"BP is surrounded to avoid bankruptcy or a hostile takeover

"Oil slick: emails show the negligence of BP

"Obama battle on the front of the oil spill

The latest employment figures have clearly welcomed the Secretary of State for Trade, Herve Novelli. In its latest publication on the subject, INSEE reported a sharp increase in the number of jobs created in the sectors of hotels and restaurants since the introduction of VAT at 5.5% 1 July 2009. Indeed it is 22,900 jobs were created last year, says the Institute.

Going a little faster than the music, the Secretary of State for Trade, Herve Novelli, was once praised as "the goal set by the government, 20,000 new jobs in two years is, in less than one year, not only met but exceeded " payday loan companies. A statement not entirely accurate.

For the future contract signed last July it clear that the restaurants have pledged to create 20,000 jobs in two years, beyond the 15,000 jobs a year usually created by the sector. By creating 22,900 jobs since the fall of VAT, the restaurateurs have established that 7,900 additional. They are thus far have exceeded one year the target set by the government in terms of jobs. But they still have a year to catch up.

With thirty media over 90 accredited foreign press wanted to book seats for the trial of Jerome Kerviel, the former Societe Generale trader accused of fraud by 4.9 billion euros starting on June 8. In total, the press service has accredited around 180 people, journalists and technical staff alike. This peak is explained by the spectacle that should be reserved where the trial will occur two of the most influential lawyers moments: Olivier Metzner and Jean Veil.

The first defending Jerome Kerviel. The tenor of 60 years is known for his extensive knowledge of procedures. The portrayals of him by his colleagues suggest a punctilious lawyer, knowing by heart the workings of criminal law and able to read three times on his client's case to find the tiniest flaw.It is these obsessions that allow it to release in 1983 of gang members, including some Public Enemy, thanks to the discovery of a possible problem of not respected by the judge. The technical file Kerviel suits him: the lawyer had already sifted through piles of documents sent by Societe Generale and promises to update all the contradictions legal exonerate his client.

His international reputation, and ability to move from organized crime to politics, also explains the crowds at trial. Olivier Metzner was all big business in recent years: he has defended and obtained the release of Dominique de Villepin in the Clearstream case. He advises Continental in the Concorde trial.It also comes alongside the former dictator Manuel Noriega of Panama, the College of Physicians in its dispute with Dr. Stephane Delajoux, or alongside Françoise Bettencourt, daughter of the owner of L'Oreal.

"Lawyers for Kerviel serve us"

For Jean Veil, 62, Olivier Metzner mania of always wanting to delve deeper into the details of files, will play against him. Those who agreed to defend Societe Generale believes in an interview to Businessweek, "lawyers for Kerviel make us a great service. They ask questions that investigators did not pursue answers and contradict the thesis of Kerviel.

Olivier Metzner will be challenged as Jean Veil is also run in the pursuit of major trials. In his counter, the defense Dominique Strauss-Kahn in affair Mnef and the Credit Lyonnais deal with Bernard Tapie.Jean Veil is known for attracting a clientele but also many VIPs of CAC 40 companies, including Total and BNP Paribas. Jacques Chirac also benefits from advice through political and financial affairs.

This work is crazy lead two battles: the current defense of Guillaume Hannezo, former CFO of Vivendi-Universal, and co-accused Jean-Marie Messier and that of Societe Generale. He promised to defend the bank's reputation, harmed, he said, by the former trader.

The confrontation between the two men promised great moments. The planning of the trial announces first hearing Tuesday from 13.30. The battle that will engage the two tenors of the Paris bar 25 to last until Friday morning.No seat should remain free for long.

ALSO READ:

"Kerviel" serene "and" confident "before his trial

"The challenges of Societe Generale

The Kerviel SocGen wants to forget

"Damning indictment against Jerome Kerviel

Lashes on the legs, prohibition of toilet soap, humiliating in public, one thing is sure, those responsible for the Italian call center did not scrimp on ways to boost sales of their anti-vac mite. A method for the less iconoclastic that neither their employees nor the Italian police have clearly enjoyed. After a survey of more than three years, five leaders Italcarone, a company based near Florence, have indeed been arrested by Italian authorities, according to information reported Thursday by La Repubblica. A study that sheds light on how farcical the call center.

The days of hapless employees Italcarone began with a bang, by listening to the solemn national anthem of Italy, hand in hand to instill in workers with more motivation.Their mission was subsequently sold by phone cleaner anti-mite, subtly promoted "anti-mite vacuum electro-medical-surgical. On an actual value of 350 euros, the devices were proposed for 3,500 euros, or through credit, 94 euros per month. But the surest way to put the vacuum was still to be bought by the employees themselves! Therefore, the new recruits were being tricked out of a "guardian", to sell to family and friends of the newcomers. New recruits attracted by the promised amount of premiums in case they reach the goals – which does not occur and the lifestyle of expensive call center managers.

This last point has nothing surprising Italcarone is also accused of conspiracy and tax evasion by the Italian authorities.Sales in black society would amount, according to the Financial Guard, more than 4.5 million euros.

It was one component of the rivalry between the U.S. and the USSR during the Cold War. The race for agricultural production between the two countries back on the front of the stage, 19 years after the fall of the USSR. Indeed, for the first time in its history, Russia achieved its goal: to surpass the U.S. in terms of wheat production. According to figures from the U.S. Department of Agriculture (USDA), Russia should produce, on the 2009-2010 campaign, about 61.700 million tons against 60.314 million for the United States. The difference is slight but significant enough to give a historical dimension to the event.

"Russia will be content with this revenge after being overtaken by the U.S. as world's largest producer of gas in 2009," said Arnaud Dubien, Russia specialist at the Iris.But for observers, the news is almost an anecdote in relation to long-term goals that will give Russia. "The food insecurity is a sensitive issue for Russia. It is about strategic security, "says Arnaud Dubien.

Giant agricultural

The renewed interest in the Russian administration for the agricultural sector clearly demonstrates the strategic issue. Agriculture had been abandoned by the government following the collapse of the USSR. The collapse of output was such that the country had to get food aid from the European Union in late 1998. In 2005 Awareness is. Vladimir Putin made agriculture a mainstay of his country's development. Two years later, he launched a five-year plan based on credits to farmers, and with 551 billion rubles (13.7 billion euros). The oligarchs are called upon.Vladimir Potanin, co-founder of the giant Norilsk Nickel is one of them.

The successor of Vladimir Putin, continues the momentum. At a forum in St. Petersburg June 5, 2009, Dmitry Medvedev replaced the wheat "at the center of life". "By implementing intensive methods in agriculture, using the proper techniques of growing wheat and raising the yield to 24 quintals per hectare, we can produce 112 to 115 million tonnes of wheat annually. And up to 133 to 136 million tons in putting into operation of additional arable land, "he said.

Export power

For analysts of the wheat market, these objectives are not surprising. "Russia is already the fourth largest producer.In 2010, the country should be the third largest exporter, just behind the EU, provides Nicolas Fragneau manager Amund Funds Global Agriculture low fee pay day loans. Currently, the EU holds first place on the podium producers (138.143 million tonnes) followed by China (114.500) and India (80.680).

Largest producer, Russia still suffers from a less assertive export. But the Russian government is working hard to address them. "Russia built ports, silos for storage. She is currently addressing all infrastructure problems. Already, since 1 July 2009, the beginning of the current year, exports reached 12 million tons, "says Michael Porter, manager of Agritel.These investments are valued by the Russian government to a range of 50 to 100 million by 2011.

Competition sharpens

The U.S. and the EU are a chilling eye development of the Russian market. The country of Medvedev already nibbling their ground in their natural turf, including Egypt, the world's largest importer of wheat. "Russia has won the bulk of the market with 420,000 tons sold since our previous state of play", remarked bitterly FranceAgrimer in its monthly report last February. The Asian market is also targeted by Russia with the aim of building "an eastern corridor development.

While FranceAgrimer reported a "competition always aggressive," analysts raised their findings: "the Russian wheat is cheaper because there are fewer loads.The only way the EU is to be as competitive as it will have to rely on the Russians, "slice Michel Portier. For their part, U.S. farmers to regulate competition through alternative crops. The final report of sowing the USDA shows that the U.S. should plant less wheat (-9%) and more corn (3%) and soybeans (1%) this year compared to last year.

Russia, bolstered by its untapped potential, is not ready to stop there. The country has 40% of global chernozem, the muck very fat and very fertile. "20 million hectares, unused since 1991 could be reintroduced into the production," Dmitry Medvedev announced last year. According to Arnaud Dubien, "with the arrival of leaders close to Moscow, as in Ukraine, a post-Soviet wheat cartel could be formed, plus Kazakhstan.He could then become the breadbasket of the world.

ALSO READ:

"Agriculture: Russia is the market at the Paris Salon

"Green light from the Duma to the privatization of agricultural land

PSG back, this time on the judicial scene. Since last Monday, said the trial of "questionable transfers" opened at the Paris Correctional Court.

At the helm, Lawrence Perp?re and Francis Graille, the presidents of the football club Paris at the time, the club itself, Nike France, two of its leaders and new players' agents, referred to "forgery and using false and unauthorized practice of the profession of players, like Richard Bettoni or Rako Stojic.No player is concerned, even if they could tax adjustments.

Between 1998 and 2003, the PSG players like Ali Bernabia or Ronaldinho would have received salary supplements that enabled PSG to pay less payroll and players less taxes, as magistrates pole of the Palais de Justice , Paris Renaud van Ruymbeke and Fran?oise Desset, who are investigating this issue since 2005.

Fictitiously inflating their role and responsibility, all 25 players involved have been inflating their commissions, and creating images contracts with Nike, they hit pay additional cash advance . These are the components of the charge.

The image rights dispute

The President, Quentin Chantal, the court stated that "some abuse of social good has been a non-place '.In other words, there was no personal enrichment.

On the image rights of players, Nike France says she bought them with consideration. But the president noted the "messages" which, for the prosecution proves the carat?re fraudulent transactions between Nike and the PSG. "If it happened that the sponsorship contract is terminated, the PSG is committed to guarantee the payment of such sums," Francis Graille mentioned in a note.

This issue of image rights will be discussed on Tuesday and Wednesday. The trial is expected to end April 14. The three remaining weeks will be spent on transfers.

The defendants face up to three years imprisonment and 225,000 euros fine for corporations. PSG may also pay 5.8 million euros that could be claimed by Urssaf.

"The talk also follow on Twitter: @ letalk

"800 000 hires zero expenses in 2009

Fran?ois Fillon is in favor of a law on the burqa

Two ministers and a lame call to solidarity

It took perseverance. After a standoff with the government, UMP deputies finally voted against their amendments, which had the support of other groups. The crucial issue was to ensure that local authorities revenue sufficient substitute. Thus, the principle of territoriality of the reassessment will be implemented and communities benefit directly from taxes paid by businesses in their territory.

The day before, the UMP deputies gave up back on the exemption of TP in firms with less than 500,000 euros of turnover. One of the rejected amendments included in effect of exempting TP businesses up 152,000 euros of turnover, instead of 500,000 euros, as desired by the government.In counterpart, Christine Lagarde had to remove the two amendments that were presented in the draft budget law to establish a "national equalization" of the new contribution.

Debate November 19

In summary, the economic contribution territorial (CET) will replace the business tax. It will consist of an assessment of local activity (professional land) and a supplementary contribution to the value-added businesses. As proposed by Gilles Carrez, the supplementary contribution will be allocated to the communes and inter-municipal, or 2.3 billion euros of contributions.The debate on the base of the supplementary contribution will continue in the Senate.

But all fears were not lifted so far, including the Association of Regions of France (ARF) which considers that the regions are excluded from political debate on local taxes. "The draft 2010 budget law removes the regional tax base built property tax, only regional tax in connection with the household," says the ARF in a statement. The Association of Small Cities France (VFPA) also announced Friday it would intervene with the Senate on the removal of business tax (TP), after the rejection by MPs of amendments prepared by the Finance Committee of House. The debate should be further pursued in the Senate from November 19, then joint commission.

ALSO READ

"Professional tax: the debate continues in the Senate