Per night to over 200 euros will be ultimately more taxed. This new 2% tax, set up on 1 November, the luxury hotel will be removed, announced Thursday that employers' organizations in the sector, following a meeting with Secretary of State for Tourism Frédéric Lefebvre. The information was then confirmed by the Ministry of Figaro Budget. "Given the increase in VAT, the tax loses its legitimacy," says one at Bercy.

In a statement, the unions have had explained during their meeting with Secretary of State in mid-day, ensuring that the tax on luxury hotel accommodation, passed by Parliament in September and applied since November 1, "will be removed payday loans in one hour."Had it been maintained, the tax would be added to the expected increase in the VAT on 1 January, according to Prime Minister's announcement.

The announcement of the abolition of this tax and details of the plate affected by the increase in VAT from 5.5 to 7% led the unions to "reaffirm the promises made in 2009 on employment, wages and investment ", they said in their statement.

A measure of 90 million euros

This was to compensate for the loss of revenue of 90 million euros due to the abandonment of the increase in VAT on theme parks.

Europe and the International Monetary Fund (IMF) were they the wrong remedy by betting on a radical purge in order to save Greece? Doubt in any case reflected in the Health Check "strictly confidential" that creditors of Athens sent to the Heads of State and Government of the European Union, just in time for their summit. The document, obtained by Le Figaro, postulates that Greece must be prepared "in a recession longer and more severe" than that announced the start of treatment by experts of the troika, the European Commission, the European Central Bank and the IMF .

This is the revision of judgments that led the twin peaks of yesterday to look at both a greater debt forgiveness by the banks (see below) and a substantial extension of the second plan Support Service promised this summer.Signal of the malaise, the ECB has refused to endorse some of the assumptions of the report and the IMF dragging its feet to validate the final tranche of aid Papandreou government.

Three years late

109 billion euros announced July 21, the financing requirement of Athens may rise to 252 or even 440 billion in the darkest scenario of the troika. Greece, which was initially successful in refinance markets from 2021, could see the deadline extended until 2027. In the meantime, the countries of the euro should cover the dead as they have formally committed and maintain a drip Greece, backed up by the IMF payday loans with no fax.

Implicitly, the troika questions the validity of the treatment and the backlash seems he underestimated.Since the summer, "the situation in Greece has worsened," she notes prior to drive the point home: the plan adopted at the summit in July "reduced the pace of debt (the country) but the effect is more than offset the macroeconomic and political. " Clearly, the state of the patient's health deteriorates and Europe continues to hope for a better.

As a complicated medical treatment, management of side effects is crucial. Contrary to expectations, "Greece, part of a very low fail to juggle internal devaluation (through lower wages, Ed), tackling its budget deficit and the completion of its program privatization ", experts say the troika.

Privatization, expected to bring the Treasury Greek part of the resources it lacks, offer a good illustration of the inability to juggle all aspects of shock therapy.According to Troika, the recession and the collapse of financial markets have already reduced 66-46000000000 Product maximum expected disposals of businesses by the Greek State. Athens logically reluctant to sell off its assets at the worst of conditions. European experts in the wake recognize that the program has already taken three years late.

After a session with no major issues on Wall Street, marked by a slight decline of 0.30% S & P500 at 1203.66 points, and an increase of 0.60% of Nasdaq, at 2620.24 points, the equity markets Americans are again expected to rise for the last weekly session. Going against the Asian markets but in the wake of the Paris market, futures contracts on the S & P 500 and the Nasdaq advancing to 13.15 0.88% and 0.83% to 1208.40 and 2345.25 points.

However, this increase could be fragile. Investors may be tempted to take some of their gains after an increase in the Dow Jones 7.7% since the start of the week. Despite disappointing indicators in China (record deficit and a slowdown in trade surplus), U.S. carriers have in fact largely welcomed the progress of the week on the back of the Greek debt.

Uncertainties before the preparatory meeting of the G20

Once again, they will therefore be watching much of the session on the other side of the Atlantic, in Paris, which starts tonight and tomorrow until Saturday the preparatory meeting of G20 finance for the Cannes summit of November 3 and 4. The day after the green light by the Slovak Parliament to strengthen the European Financial Stability Fund (EFSF), European markets are waiting for concrete proposals to resolve the debt crisis in the eurozone. An expectation that the more salient, despite the slight relief seen this week on this subject, fears have resurfaced, with degradation that night by Standard & Poor's to the next level of the sovereign rating of Spain, "AA – "combined with a negative outlook.The rating agency's estimation likely further deterioration of the Spanish financial system.

These bad signals sent by the rating agencies do not, however, hinder the progress of the euro, which was up slightly against the dollar on hopes of crisis. Friday at 11:40, the euro was worth 1.3802 dollars against 1.3783 on Thursday.

The bank also threatened

In this global context, and in the wake of disappointing results yesterday from JP Morgan, the banking sector could remain under pressure. The exposure of banks to various debts of European countries and the possible need for recapitalization will remain a key concern payday advance low fees. If the biggest fears concern European banks, the U.S. financial KBW index was down over 22% since July 21.Placing under supervision yesterday by Fitch of three French banks (BNP Paribas, Credit Agricole and Societe Generale) should not lead a turnaround. Especially since the U.S. rating agency included four other international banks in its radar, and also degraded the Swiss UBS note one notch to "A".

New round of indicators

In terms of indicators, investors are attentive to the publication of retail sales for the month of September (1430). At the same time will be announced the import prices for September. At 3:55 p.m. ET expected the first estimate of the index of consumer confidence from the University of Michigan for the month of October. This series of publications will end with the stock assessment and business sales for the month of August.

Finally in China, inflation slowed slightly to 6.1% in September, against 6.2% in August, the government said Friday, but remains at a high level that does not bode a loosening of Chinese monetary policy.

As for values, the earnings season for the third quarter continues.

Last night, Google unveiled better than expected quarterly accounts. In the third quarter, its net sales rose 37% to 7.51 billion, and net income reached 2.73 billion dollars against 2.17 billion a year earlier.

After announcing Wednesday an increase of 4% of its quarterly net income, the American producer of beverages and snacks Pepsico is preparing to enter the market yoghurt.The Wall Street Journal, the American giant is about to create a joint venture with the German dairy group Theo Müller.

The toy maker Mattel said Friday aa a quarterly revenue above expectations, up 9% between June and September at two billion dollars against 1.97 billion expected by analysts.

Apple. The Apple brand will launch this weekend, the iPhone 4S, one of the latest products developed under Steve Jobs era. Analysts said the new smartphone would be sold over 4 million copies in its first weekend of marketing.

Unilever. The Anglo-Dutch food and cosmetics in Russia is growing by acquiring 82% stake in the Russian Kalina, for 390 million euros.

This is a milestone in the history of computing. The world's leading manufacturer of PC announced that it will withdraw from this activity. In making this decision, Leo Apotheker, CEO of HP, takes note of a double reality: the market has already switched to the HP tablets and missed that turn.

The boundary drawn between PCs and tablets no longer be needed. Laptops and the "Pad" or "Tab" to the same target audience. "The tablet is the ultimate mobile device. It will even be the first TV screen connected in homes and transportable, "predicts Christopher Aulnette, CEO of Netgem.

PC sales will continue to grow in the coming years, but at a slower pace. In the last quarter, they rose by only 2% worldwide and even dropped by 19% in Europe, according to the latest study by Gartner.PC sales have been hard hit by soaring sales of tablets. DisplaySearch fact of Apple the leading seller of laptops, PCs and by adding the shelves in the same category. HP is demoted to second place. "The slowdown in sales growth of PC is due to higher sales of tablets," said Richard Shim, senior analyst at DisplaySearch. So much so that by 2016 it is expected to sell more bars in the world of laptops. This is due to consumer demand. The PC market is still supported by demand from businesses.

The launch of the iPad, last year, PC makers were first considered this the emergence of a new market. They readily confined the tablet to the consultation content, reserving the game more "noble" computing, content creation, to the PC.It only took a few months to shake the certainties. On a daily basis, the consumer sends e-mails, watch videos, plays, reading a newspaper, surfing, photo sharing on the Internet … So many things that are perfectly feasible on a shelf, or even more easily than a laptop . Besides all uses brought by additional accessories such as holders for music.

While the tablets are not equipped with big hard drives capable of storing data. But Apple has already provided an answer to storage problems with icloud. All information can be stored on external servers. The only limit to access constantly, you need a connection worthy of the name.The tablet can connect at home Wi-Fi or outside the network via the Internet Mobile Broadband 3G.

An integrated model

Finally, the supply of tablets will continue to evolve, driven by competition among big players, Apple and Google, and their "challengers" Microsoft and RIM (BlackBerry).

"To exist on the consumer market for personal computers, must be able to sell PCs, tablets and smartphones, said Ranjit Atwal, an analyst at Gartner. The profits come from the ecosystem that results, not hardware sales. "Apple is the model. After developing the application store on iPhone and iPad, he extended the principle to the Mac.

As such, Leo Apotheker wanted to go too fast. He left no time to its operating system WebOS, or its application store, AppCatalog, to develop."The transition of a business model to another is not easy, and HP probably has overestimated the value of its brand among consumers," said Ranjit Atwal. In the last quarter, PC sales to individuals of HP fell 10%, while those companies grew by 20%.

Click the preview to enlarge the graphic.

ALSO READ:

"HP in the footsteps of IBM

"HP is pulling PCs and tablets

The American and European leaders were under pressure Sunday to try to agree on a concerted response to the debt crisis in the eurozone and the degradation of the note of the United States. Front line, they seek to avoid further financial market plunge Monday, worried about the slowdown in global growth and spread of the debt crisis in the eurozone. Since Friday, so they stepped up contacts.

• Maintenance of imminent G7 finance ministers. Finance ministers of the G7, which includes the U.S., Germany, Japan, France, Canada, Italy and Britain, have stepped up telephone contacts this weekend in order to develop a common strategy to offer.After heavy turbulence in global financial markets, which lost 2,500 billion during the past week, they must reassure investors about the ability and determination of their countries to reduce deficits and public debts. A telephone conference of finance ministers and central bankers to be held Monday, according to Japanese news agency Kyodo. Interviews are tentatively scheduled before the opening of Asian markets (in the night from Sunday to Monday in Europe).

• A G20 focused on the debt. More broadly, the G20, which groups the world's major economies, contacted by telephone Sunday morning to discuss the consequences of the debt crisis on both sides of the Atlantic. Nothing had filtered from the meeting at noon.Only South Korea said that its confidence in the U.S. Treasury had not changed despite the decision of Standard & Poor's. "There will be no change in the policy of foreign exchange reserves of South Korea," said Vice Minister of Finance.

• The ECB will speak Sunday. Among the tracks in the study is a possible intervention by the European Central Bank, which could buy government bonds in Italy and Spain. This intervention is strongly demanded by the markets. The European Central Bank Thursday reactivated its share repurchase program of sovereign debt in order to calm soaring interest rates in some countries of the euro area, but has so far bought only small amounts of debt and Irish Portuguese, while speculation is focused on Italy and Spain.If the decision to intervene is taken, the ECB and national central banks will begin to redeem the bond markets open Monday. A meeting of governors will be held Sunday at 6:00 p.m. ..

• Nicolas Sarkozy met with David Cameron on Saturday. The President, who chairs the G7 and G20 met Saturday evening on the phone for thirty minutes of the financial situation with British Prime Minister. The two men "agreed on the importance of working together to monitor the situation closely and keep in touch in the coming days," said a London spokesman for Downing Street, without giving further details. The discussion between the two leaders has focused on his view "the euro area and the lowering of the rating American."

• Barack Obama apple Europeans Friday night.According to the White House, Bush spoke by phone separately with President Sarkozy and German Chancellor Angela Merkel about "the latest developments of the crisis in the euro zone" and noted "the importance of [the] implementation "of measures adopted at the summit of the euro area on July 21. The leaders of the eurozone had concerted Friday after finding that the agreement found to cope with the debt crisis had not convinced the markets. If Italy and Spain are at the heart of the turmoil, other countries are also affected such as Belgium.

ALSO READ:

"" The deterioration U.S. puts enormous pressure on Europe "

"The performance of credit rating agencies

"Who owns the Debts

And the winner is … Sodexo. The group catering entered into exclusive negotiations with Accor to buy him the luxury caterer Lenôtre for an enterprise value of € 75 million. "I welcome the interest shown by Sodexo, which would be ideal for a buyer to allow Lenôtre to continue its development by taking advantage of increased resources," said Denis Hennequin, president and CEO of Accor. Without Lenôtre will be a 100% hotel group. Created in the 1960s by Gaston Lenôtre, the Lenôtre achieved last year a turnover of 105 million euros. Several companies were bidding to its acquisition, including the group Le Duff (Brioche Doree) and the Lucien Barrière group of casinos.

At its inaugural press conference, she said she would continue the policy of his predecessor, Dominique Strauss-Kahn by giving more weight to emerging within the Fund.

Christine Lagarde has not forgotten the former shareholders of the Fund, namely the United States, which were the key to his appointment. She announced that David Lipton, an economic adviser to the White House, take over from his compatriot John Lipsky as Director General."Combining international expertise, experience in public policy and private sector and a strong track record in managing economic crises, David brings to the Fund's long experience in the design of policies and negotiating skills," said Christine Lagarde said.

ALSO READ:

"The challenges facing the IMF Christine Lagarde

"How does the IMF

"IMF, the wheels of an election

Saturday, Ali will start at 19:10 Baddou the start of his show The Big Mag, scheduled on Saturday in the clear on Canal +, until August 27. Four years after arriving on the pay channel, the journalist is thus for the first time give his own TV show. "The Great Mag is 52 minutes, mainly of reports around the world, and who give themselves the ambition to tell the world in which we live. There are also meetings with personalities that have marked the year just ended, "said Ali Baddou. For the first issue, The Great Mag return among other Ali Agca, the man who tried to kill Pope John Paul II in 1981, and the phenomenon of the gilded youth of Shanghai imitating the codes of the heroes of the film Fast and Furious. Before proposing a meeting with Nicolas Anelka."For the first time he speaks for this great moment in South Africa in the locker room with Raymond Domenech," said the journalist to seeing you on June 25 to determine the version of football.

Beyond this project, the journalist will use the summer to prepare for his return at the helm of the special edition, on which it will replace Bruce Toussaint, recruited to lead the morning of Europe 1. Renamed New Edition, "the issue deeply enough to change, details columnist Grand Journal de Michel Denisot. We will keep the anchor in the news, but telling it through those who live it. The show will host a lot of guests and witnesses who will say, on various subjects and varied, how they perceive the news. " Is for this revised version, a format more focused on the testimony and culture. The cast of writers, however, should not change."Ariel Wizman, Daphne Burki, Anne-Elisabeth Lemoine, Nicolas Domenach be faithful to the position."

Hearing no targets

So we said leaving for France 2, the host denies "rumors" and talks about his choice to accept the slice of mid-day on Canal + in 2008 after refusing the morning of the chain, already replacing Bruce Toussaint. "I already went out three years of morning radio, so I did not even discuss the project. There, it's very different, it's a great challenge, especially a presidential year where there is all to do. " Last year, the issue of Bruce Toussaint realized an average 4.4% audience share, or about 590,000 faithful daily. A difficult challenge? "Right now, we talk primarily of the content," says Ali Baddou, denies having received, at the moment, the objectives of hearing from Canal +.

In addition to these two programs by signing the rise of the chain, the journalist will continue to be the joker of Michel Denisot the presentation of the Grand Journal, although it will cease its daily columns on the flagship show of Canal +. He imagines in designated successor? "It really is not there. I replace it, it looks as I do … It's normal, it has nothing to do with the future. " Meanwhile, the man who started his career as a journalist at France Culture (he hosted the morning of the station from 2006 to 2009 and the weekly Le Rendezvous policies) gives clear priority to its television operations. "I pause my radio activities next year," said Ali Baddou at First Attempts to raise the weekly meeting that he still animated at France Culture.

The U.S. stock market should open down Tuesday. Futures on Standard & Poor's 500 and Nasdaq 100 respectively retreating from 0.67% to 1278.80 points and 0.07% at 2251 points.

On Thursday, the New York Stock Exchange rebounded revitalized after six consecutive sessions of decline, by an unexpected decrease in the trade deficit the United States.

USA: The official figure for the budget deficit in the program

On the macroeconomic front, the rising prices of imported products in the United States has slowed significantly in May, when it reached 0.2% compared to the previous month, against 2.1% in April, show figures released by the Labor Department in Washington on Friday.

Moreover, the fiscal deficit of the federal government should come out to $ 140 billion.The official figure will be presented to 18 hours.

The issue of public finances in Europe and especially debt Greek crystallizes concerns should also continue to facilitate the trading floor.

The Greek government Thursday gave the green light to the new recovery plan for the period 2012-2015. The text provides a hardening of the rigor with 28.4 billion of anticipated savings, including $ 6.4 billion in additional measures for 2011. Privatization, ranging from transportation to energy through the banks, expected return $ 50 billion by 2015, set fire to the powder.The unions called a general strike June 15 against the "fire sale" of the country.

Also in Europe, meanwhile, the president of the European Central Bank (ECB), Jean-Claude Trichet reiterated his firm opposition to Frankfurt to any form of debt restructuring Greek opposing frontally in Berlin which continues demand a restructuring "soft" involving private lenders.

In China, exports in May reached a record $ 157 billion, an increase of 19.4% monthly, but the strong recovery in imports (+28.4% to 144.11 billion dollars) in the same time ultimately does a moderate growth of the Chinese trade surplus.

The dollar continued its resurgence against the euro

On the foreign exchange market on Friday, the euro continued its decline against the dollar.In late morning European currency was worth 1.4481 dollars against 1.4509 dollars on Thursday night. For the first time in five weeks, listed in London Brent oil exceeds $ 120 a barrel supported by the U.S. trade deficit lower than expected and the lack of a decision by OPEC on production.

National Semiconductor: +0 instant personal loans guaranteed.10% to 24.61 dollars

The side of values, National Semiconductor has released its results after market close. The title company is the subject of an offer to buy Texas Instruments, climbing nearly 80% since the beginning of the year. The profits of the manufacturer of semiconductors are $ 67.1 million, slightly below expectations. Turnover was 374.1 million, down 6% year on year but up 9% sequentially. Gross margin was stable at 66.5%.Sales to the automotive and telecommunications, including phones, are stable over the quarter. However, the group recorded a significant decline in sales in Japan.

Apple: -0.27% to 330.60 dollars

For its part, Apple has decided to relax its rules vis-à-vis newspaper and online magazines. Now, publishers and media companies will be present on the IPAD and the Iphone without having to be listed in the Apple, where the company Steve Jobs takes 30% of their sales.

Ford: -1.73% to 13.56 dollars

The automaker Ford has announced plans to triple its production of electric vehicles, including hybrids, to bring it to an annual total of 100,000 units by 2013. During this meeting, Jim Farley, Ford's commercial director, said he was "encouraged" by the group's sales in June.The group takes advantage of the decline in Asian competition on the North American market.

Microsoft: -0.29% to 23.89 dollars

The Supreme Court of the United States on Thursday ruled in favor of the small Canadian computer company i4i against the computer giant Microsoft, whom she accused of raping a patent in certain versions of its flagship software Word. In a unanimous decision, the highest U.S. court upheld the decision of an appellate court under which Microsoft must pay $ 290 million in damages and has no right to continue selling 2003 and 2007 versions of Word, using the disputed technology.

Also note, the U.S. telecoms equipment maker Avaya posted Thursday its record IPO with stock market authorities to lift a maximum of $ 1 billion.The document handed over to the stock market does not specify the date nor the number of shares to be issued or the expected price per share. The Wall Street Journal, this IPO would value the entire company, which was deregistration by the investment fund Silver Lake and TPG Capital in 2007, 5 billion or more. The investment fund Silver Lake and TPG had acquired Avaya in October 2007 for $ 8.3 billion.

In the wake of the optimism of Asian markets and especially French, Wall Street is evolving into the green on Tuesday, confident in the evolution of the Greek situation on the eve of a meeting of finance ministers of the euro area in Vienna. The day after a weekend of three days, Wall Street climbed 1% to 12,565.44 points, the Nasdaq rose 1.01% to 2825.15 points and the S & P 500 ahead 0.92% in 1343, 38 points.

On Tuesday morning, while the situation of the Greek sovereign debt focused investor attention for several weeks, Germany has come ease the tension felt in May in the financial markets, on both sides of the Atlantic. Beyond the announcement of a rebound in retail sales in April in Germany, the good news came from Wall Street Journal, which reports that Germany intends to abandon its proposal to reschedule the maturity of Greek bonds.What to facilitate the release of new aid for Athens. Also note that European countries will hold a meeting tomorrow in Vienna of experts to discuss mainly the persistent debt crisis in Greece.

In this more peaceful, the euro regained much ground against the dollar. In early afternoon, the euro gained 0.85% to 1.4408 dollars against 1.4282 dollars late Monday.

A decline in the greenback this morning that promotes the rising price of oil, especially as geopolitical concerns in the Middle East have resurfaced, with the exacerbation of violence in Yemen. Around noon Paris time, a barrel of Brent North Sea crude for July delivery traded at 116.32 dollars in London, up $ 1.64 from Friday's close.On the New York Mercantile Exchange, a barrel of light sweet crude for the same maturity progressed from 2.19 dollars to 102.78 dollars.

Macroeconomic side, house prices fell for the ninth straight month the U.S. in March, 0.2% from the previous month, as February, according to the monthly Standard and Poor's / Case-Shiller published Tuesday.

At 15.45, the investor gets filled in the Chicago PMI for the month of May. Finally, fifteen minutes later will be unveiled the consumer confidence index and the index of investor confidence for the month of May.

Values ​​to follow

Among the values ​​to explore this afternoon:

Ahsland Inc..

The U.S. specialty chemicals announced Tuesday the acquisition of its competitor International Specialty Products (ISP) for $ 3.2 billion in cash.An operation that will enhance its product portfolio on high-growth markets such as personal care, pharmaceuticals and energy, said the company.

Optimer Pharmaceuticals

The biopharmaceutical group announced last Friday's approval by the Food and Drug Administration (FDA) of its shelves Dificid against infection Clostridium difficile.

LyondellBasell

The petrochemical company is selling the refinery French Berre (Bouches-du-Rhone), after considering the purchase of the site in 2008, the results of Berry "were found below the economic projections made at the time of acquisition.

Intel

On the occasion of the exhibition Computex Taipei (Taiwan), the American giant has unveiled details Friday Ultrabook, its new line of ultraportable computers and ultra-thin.

Lions Gate Corporation.

The group will publish its quarterly results (Q4). The consensus expects earnings of 18 cents per share.

Goldman Sachs

The bank has invested more than $ 1.3 billion in Libyan sovereign fund, inter alia, operations on the foreign exchange market in 2008. These investments have lost 98% of their value, reports the Wall Street Journal, citing internal documents of the bank.

KKR

The investment fund has announced the acquisition of Academy Sports + Outdoors without disclosing the amount of the transaction.