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Please remember that a payday loan is a rather expensive line of credit. Much like taking something to the pawn shop.

 

What are the main beneficiaries of the Common Agricultural Policy (CAP) and how do they perceive? The information is all there is to public. The Ministry of Agriculture has indeed publish on its website the names of beneficiaries and the amount of aid they received for the period 16 October 2010 to October 15, 2011. A bond required by the European Commission in March 2008 in the interests of transparency and legitimacy of the main EU budget. France, which is the largest producer of EU agricultural and therefore the largest recipient of aid, receives a budget of nearly EUR 10 billion. This fee is in two forms. The largest portion, nearly 8.5 billion euros, is awarded through direct aids per hectare (single premium rights or DPU). They fall under the European Agricultural Guarantee Fund (EAGF). To this must be added indirect support related to the development of dependent territories of the European Agricultural Fund for Rural Development (EAFRD). An envelope that reaches 1.3 billion euros.

For a year, and for the sake of "respect for private life", the only data with regard to individual farmers but more the corporate structures of the type EARL (farm limited liability) or GAEC (farming groups in common ). They also relate to producer organizations, agribusinesses, communities, not to mention charitable organizations or associations.

Chief among the beneficiaries of the CAP, we find the poultry group Doux Breton which collects about $ 54 million of EU agricultural subsidies. "These are export refunds for chicken, it says the Department of Agriculture. Aid to offset the costs of production and processing higher in France than its international competitors on historical markets of the Middle East. The position of Brussels is to reduce them. "Second Beneficiary: Regional Committee for the conversion of vineyards in the Languedoc for more than 32 million euros. "They are restructuring aid which are managed collectively and are then redistributed to growers," says one rue de Varenne.

Modernization and research

On the third place, the Sugar Reunion (31 million) of Tereos. "They relate to specific incentives for overseas departments to maintain the historical purchase price of sugarcane paid to producers after the entry into force of the common market organization in 2006, says one in 29 million Tereos.Plus are redistributed to farmers, the rest is reinvested in modernizing the industry and research. "followed by the French Federation of Food Banks (30 million) under the European program to help more poor (PEAD). Finally, France Luzerne, cooperative of the Marne, receives 23 million euros of aid related to dehydrated alfalfa. "They are paid directly to producers in 2012," says one to the Department of Agriculture.

 

The invoice is salted for five hypermarkets Carrefour and Leclerc. The latter were sentenced Friday by the criminal court of Rouen to pay 140,000 euros in fines for "deceptive marketing practices."

The court points to operations such as "buy four, one free" or "20% free" set up on certain products. After controls, the investigators of the Departmental Direction of protecting the population of Seine-Maritime realized that these operations were unfavorable to consumers. The latter indeed paid these products more expensive than had they purchased individually. Similarly, the comparison price in the store were found. Result: Three of the Carrefour stores will have to pay 100,000 euros while two stores Leclerc pay 30,000 and 10,000 euros respectively cheapest personal loan rates.  

The stores are doing better than what the prosecutor of the Republic, Maela Guéguen, had addressed, namely a total of 190,000 euros in fines. The lawyers had demanded the release distributors to their customers because they believe these development operations were performed by providers who decided the proportion of free and conditioned themselves the product. For its part, the association UFC-Que Choisir, who received 2000 euros in damages, a judgment that recognizes hello "fraud and false advertising," according to his lawyer Catherine Kersual.

(With Agents)

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3 Suisses must be patient. Three years after removing nearly 700 jobs a year and a half after the launch of a major modernization plan in 2013, the specialist mail order (VPC) is still not the end of his troubles.

In 2011, the turnover of the group 3 Suisses International (3SI) fell a further 5.6% and the accounts are still in the red. Of course, "this decline is partly explained by the market environment somewhat depressed for clothing," says German Otto vpciste which holds 51% stake (alongside the Family Association Mulliez 44%). But the European leader recognizes that the repositioning of 3SI in losses since 2005, is "a little slow."

Denis Terrien, founder and CEO of Amazon. Fr, arrived in June 2009 with orders for 3SI to instill the spirit internet business that made him still lacking. Born in 1932, the group had made back in 1998, however the entire catalog of its flagship brand online in 2007 and had proposed its first application to control from his mobile phone. But the organization was still oriented around the two "big book" seasonal, declined in line with their promotion system increasingly important.

The figures show that the mutation is far from over: according to our information, the three Swiss have a cumulative loss of 165 million euros since 2008, with another 15 million euros last year. For all consumer brands, the loss would amount to 110 million euros. "It is unlikely that the 3 Suisses reach equilibrium this year, as foreseen in the strategic plan. For this particular reason that Laurence Paganini had to give up CEO in late January to the leader of spoiler, "says a close case.

Delete homes losses

While its competitor La Redoute (Redcats) has already increased from 2 to 10 collections a year, a key element of the transformation, the catalogs remain offseason in three Swiss still largely a work in progress. This explains why the 3 Suisses realize only 66% of their online sales against 78% for La Redoute. The average is 50% for the ten consumer brands 3SI (3 Suisses, Blancheporte, Spoiler, Window Magic …), or 11 points less than the subsidiary of PPR. "The challenge of this evolution to the Internet is to keep its best customers, while attracting new, old, and their loyalty," said Olivier Trouvé, a consultant at Kurt Salmon instant credit reports.

Meanwhile, 3SI continues to suppress outbreaks of losses: the last of its 35 stores closed earlier this year. As the site buy / sell 2xMoinsCher, acquired in 2006. What about its subsidiary, resumed in spring 2010 for his younger clients file, it also pulled the curtain end of January.

The transformation should move faster once the redesign of systems of consumer brands finalized. Group 3 SI has indeed devoted nearly half of the envelope of € 70 million plan to modernize the "largest construction site computer currently in France," according 3SI. The links between trade marks may be tightened in order to promote cross-selling, as is done on the virtual shopping mall lechouchou.com, online since late January. "The IT component is the only site where the three Swiss were up," according to critics.

Become a service provider

3 Suisses are now trying two revolutions at once: to turn into e-trader and service provider for other Internet retailers. More than half of the investments are vested in the building at Hem, near Lille, the "largest database storage and order picking in France," according to 3 Suisses International (SI 3). The warehouse, built next to that of Mondial Relay, covers an area comparable to six football fields and will be operational in October.  

The building, where packages are trademarks of the group to mingle with other online retailers, is the missing of the SI strategy 3, which wants to open its various subsidiaries to external customers. Very optimistic, the group expects to double the number of clients, individuals and professionals to reach 20 million by 2020. At its shareholder Otto, the branch services increased 9% in 2011, exceeding one billion euros. Ikea and Oxylane make their photos in the studios of Quai de l'Image. Mondial Relay manages some 1,200 parcels of e-tailers, as the Relais Colis, a subsidiary of La Redoute.

"The picking is more strategic than other services. 3 Suisses may have difficulty recruiting. Especially since many experts have already invested the niche of Logistics, "said an e-merchant, reflecting the view of many respondents. Even private-sale, real reference in the sector, has decided to delegate the logistics of the Digital Factory, its service company for e-tailers.

 

This is the story of an Alsatian deputy mayor, Eric Straumann, who, wishing to save a supermarket brand of monumental and illegal blocks all the mayors of France who want to limit the display advertising in their municipality. Summoned by the prefect to remove the acronym which stands Cora to 17 meters above the campaign Husain (1600 inhabitants), the elected UMP has decided to amend the second law of the Grenelle del'environnement on the billboard said "outside business card templates." Include: large panels and signs disfiguring number of entries in cities.

"I have a large area with a large sign that does not bother anyone,

The sign of Cora Hussen.

 

Minister of Industry, José Manuel Soria, foreign affairs, Jose Manuel Garcia-Margallo, through the CEO of Repsol, Antonio Brufau is a general mobilization in Madrid. Since the announcement Monday night from the expropriation of the group YPF, Repsol's subsidiary in Argentina, the Spanish government officials and oil company's succession of television sets in press conferences to express their anger.

Because even if it concerns also international investors, largely present in the capital of Repsol YPF, the coup of President Cristina Kirchner is lived in Madrid as an affront to the country. "A decision against the interests of Spain and Spaniards," says Soria. It must be said that YPF is the crown jewel of Repsol. The Argentine subsidiary to the parent provides half of the production of hydrocarbons (or 459,000 barrels per day), 40% of its reserves and a third of its gross profit. Repsol, the coup, wants to pay a high price Buenos Aires: Antonio Brufau requires 8 billion euros in compensation for the 57.4% stake in Spanish oil YPF.

"A very bad signal"

For now, Spain brandished the threat of retaliation, without elaborating. Minister Soria evokes "the consequences of different fields: diplomatic, commercial, and industrial energy." Europe is united with Madrid. The head of European diplomacy, Catherine Ashton, denounces "a very bad signal" sent by Argentina to foreign investors and warned that Brussels is studying all options instant payday loan.

Beyond the rhetorical threats, what are the real possibilities of retaliation? Specifically, Madrid remains an important outlet for Buenos Aires. Spain imports twice what it exports to Argentina. In 2011, Spaniards bought 2.01 billion euros of products to Argentina and that they have sold 1 billion. Chemicals, raw materials, intermediate products as well as fruits, vegetables, fish and seafood are among the goods most in demand in Spain.

"Legal uncertainty" in Argentina

Repsol also is not the only company of Spanish origin present in Argentina. In energy, construction and banks, the Spanish groups have settled in Buenos Aires and the rest of the country. Gas Natural has reached such an EBITDA of 27 million euros last year. Santander and BBVA, the two giants of Spanish bank, achieved respectively 5.36% and 5.22% of their net profits in Argentina. Telefonica de Argentina, finally, achieved a turnover of more than 3 billion euros, thanks to its 24,000 employees in Argentina.

For now, the 400 Spanish companies are located low profile. Spanish executives point out, the image of Gas Natural, "the excellent relations with the Argentine government." But on condition of anonymity, officials complain in the Spanish press of the "legal uncertainty" that takes place in Argentina.

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If the timing of the IPO Facebook is still not known, investors are in turmoil. And gendarmes stock alert. The Securities and Exchange Commission (SEC), the authority of U.S. financial markets, has struck a major blow this week by denouncing irregularities in the market called "pre-IPO" or pre-IPO. She has filed suit Wednesday against SharesPost, a leading specialized platforms in exchange for shares of unlisted companies, like Facebook or Twitter. His main mistake "of having effected transactions in securities without being registered in advance with the regulators as a brokerage." Clearly, the operations were carried out in a strictly regulated market.

Finally, the SEC and the founder of SharesPost, Greg Brogger, reached an agreement. The company must pay a fine of $ 80,000, and its founder will pay $ 20,000 bonus. In addition, SharesPost acquired a brokerage, which allowed him to register with the Financial Industry Regulatory Authority (FINRA), another regulatory body. The SEC announced parallel lawsuits against two managers of private funds – Felix Investments and Free Facie Management Associates – "created solely to acquire shares of Facebook and other Silicon Valley companies, deceiving investors and pocketing commissions unspecified ". The managers of these two companies have sold securities to Facebook prices up to 66 dollars per share, nearly twice the rate at which they had got hold of it, denounces the regulator.  

Gamble "even for sophisticated investors"

"While we applaud innovation in financial markets, new platforms and new products must obey the laws and ensuring fairness and transparency are the basic mark of a good financial regulation", argued a officials of the SEC, Robert Khuzami, said in a statement payday loans. This is a very sensitive issue because Facebook is trading on a gray market with a valuation of nearly $ 98 billion! However, in the first approach, the experts were hoping for a stock of Figaro valuation of approximately $ 75 billion. Finally, it should rather be on the order of $ 100 billion, they say.

The issue of pre-IPO market is considerable, at a time when the SEC ensures restore investor confidence. "When you do not trust your neighbors are happy to see that there are police on the streets," said Max Wolff, in charge of research on the secondary market at GreenCrest Capital in New York, in the columns World. SharesPost and SecondMarket platforms are best known on the secondary market. A market that has allowed tens of thousands of wealthy investors to take their share of companies very popular, as were also Zynga or Groupon before their IPO. Caution, however, not to lose feathers, warns Marc Fagel, director of the SEC office in San Francisco, said in the statement: "This secondary market (…) is dangerous even for sophisticated investors."

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In the logic of "rights and duties" which is his, Nicolas Sarkozy promised Monday night to tax tax exiles. The Government has already established last year an exit tax, which taxes unrealized gains of the French going abroad. But the president-candidate wants to go further, proposing that any tax paid to the exiled French tax authorities the difference between the tax paid in their country of residence and that he would have paid in France.

First precision, only capital income – dividends, interest, capital gains – would be affected, if they exceed a certain threshold. With these conditions, expatriates escape, as desired by Nicolas Sarkozy, to higher taxation. Indeed, one part went to work abroad receives a salary, which does not fall within the scope of the measure, and some capital income too low to exceed the threshold. Conversely, the exiles are often more active and live their heritage.

The focus on capital income has another advantage, purely political: to distinguish themselves from the proposal made in 2010 by Jerome Cahuzac, president of the PS Finance Committee in the Assembly, to tax high incomes of French abroad, including labor income. At the time, Baroin, budget minister, had criticized the idea, speaking of "right of blood tax" contrary to the French system.

Compatibility with European law

In fact, our tax law, like all developed countries except the U.S., is built on territoriality, not nationality: French living in Germany a payroll tax beyond the Rhine, a German resident in France and acquitted in the Hexagon. "As a result, the measure proposed by Nicolas Sarkozy assumed to renegotiate our tax treaties with other countries. A complicated task, "says Nicolas Jacquot, partner at Arsene Taxand. In the campaign team, it was answered that it will suffice to review the agreements with the states most favored by the tax exiles. Such as Belgium, Luxembourg or Switzerland. "However, France will have to convince these countries to negotiate, which is nothing obvious," warns Marc Vaslin, partner at Scotto & Associates, a law firm based in Paris, Geneva and Brussels.

Another question: that of incompatibility with European law. European Commissioner Michel Barnier yesterday denied any obstacle. An opinion not shared by the Circle of the tax, which analyzes the candidates' proposals for Le Figaro throughout the campaign: "the measure can be considered an obstacle to freedom of movement and settlement," notes the one of its members, attorney Jean-Yves Mercier. In short, the practical implementation of the tax exiles looks daunting.

If these revenues were estimated at 500 million by Nicolas Sarkozy, some are more skeptical. "The very wealthy households keep their assets in holding companies and pay themselves the minimum income," says Jean-Yves Mercier. The number of exiles is itself unclear. Just do you know that 500 indebted to ISF leave the country every year and from 2000 to 2500 the French enjoy preferential treatment in Switzerland. To verify the application of the measure, the IRS will conduct examinations heavy and therefore costly. The measure will be symbolic in every sense of the term.

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The state reform was one of the major projects of the quinquennium. In this reform called General Policy Review (RGPP), launched by Nicolas Sarkozy, the non-replacement of a retirement of two in the public service was the single most iconic. RGPP but is also creating employment Pole, the merger of Taxation and Treasury Bercy or the removal of small courts.

In a report released Tuesday, the OECD welcomes this approach. It considers the RGPP as "an important step in modernizing the State in France" and believes that our country is now in "a relatively privileged position" in relation to others. The international organization noted that the RGPP has a 6.4% drop in employment in the State Civil Service between 2007 and 2012 (or 150,000 job cuts), which had never happened before in the Hexagon.

Method of systematic cuts

Nevertheless, the OECD, France must go further. The process cost optimization should become permanent. The organization advocates to develop a method of systematic cuts, setting an annual goal of lower costs – staff and others – by department.

For this, the future government will have to better communicate with officials. For today, the cost reduction is not part of the culture of public service, according to the OECD. RGPP was seen as temporary. It has not attracted the membership of the employees. "There is a gap between the feeling of the effort made by the agents and the amount of the reforms on the one hand, and budget savings from the other," wrote the report.

In fact, the savings should only reach 15 billion by 2013. This is small compared to a deficit of 136.5 billion in 2010. But that is because the RGPP was limited to a restructuring of the state.

To reduce its debt, France must now carry out a review of its social policies and its tax loopholes. The OECD also asked to set up a RGPP for local communities. "The organization and governance of local government – characterized by many levels of local, a very large number of common, yet significant presence of the state and level of employment increasing rapidly – are expensive and need to be rationalized, "we read in the report. It would be clearer!

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