"We told you so's you!" For U.S. policy makers who are struggling since 2010 to oversee Wall Street, the announcement of the disappointments of JPMorgan timely. While the final text of the U.S. banking regulation should be adopted in the coming months, the loss comes discredit the speech of one of their most brilliant opponents, the bank manager, Jamie Dimon. The man never tires for months to detail the disastrous economic consequences of a law too narrowly and to question the competence of its authors. "Today's announcement sounds like a strong reminder of the need for regulators to establish effective and stringent rules," he said at the Thursday night Democratic Senator Carl Levin of Michigan.

The debate on bank regulation in the United States, born after the collapse of Lehman Brothers, has refocused on the "Volcker rule", named after the former president of the Federal Reserve. This text prohibits banks that collect savings to speculate on their capital. He wants to draw a boundary between the regulated and the banking world of hedge funds, to prevent savers and taxpayers have to pay for reckless risk-taking. Once established, this principle raises numerous issues on which borders falling over for months and policies bankers. Wall Street has already received several exceptions weight. Trading, whose goal is not speculative but is intended to "cover" the risk of a bank, and would currently not affected by the law. Yet it is on this type of operation that JPMorgan has stumbled. Jamie Dimon admitted a hedging strategy "ineffective, poorly controlled, poorly built and all that follows." In short, a technical error, regrettable, but whose realization is possible in a risky world.

A speech inaudible to American politicians who have not forgotten the tens of billions of dollars spent in the bailouts of 2008. The loss of JPMorgan demonstrate the contrary, they argue, the need to extend the legislation. "The enormous loss of JPMorgan provides the latest evidence dated as what banks call" risk coverage "actually corresponds to paris often risky it is not normal that these institutions make systemic scale," said Senator Carl Levin.

Repercussions in France

The standoff will continue in the coming months. Its echoes will reverberate in Eu-rope. While the British have advanced to a strict separation of credit and market, the continent is still in full swing. At the community level, Commissioner Michel Barnier told the Finnish Erkki Liikanen to chair a task force, which should stop the cursor from the reform. Its conclusions are expected in the fall. The new French government should in parallel, and in connection with this commission, quickly present its proposals. Francois Hollande and future Minister of Economy advance probably this summer.

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European capitals have asked the Commission to bone up on the fight against unemployment, but many probably not appreciate his advice: the lowering of wage costs to the free movement of labor across the EU through a minimum wage "modular", Brussels risk of setting fire to the powder to the left and right.

The document, which will be released Wednesday, could also ignite the French debate around employment and Europe, with five days of the first round of presidential elections. As Nicolas Sarkozy, Brussels appears for a lower wage cost burden on businesses. It is a "privileged instrument to strengthen the labor supply," says the latest version of the text obtained by Le Figaro. The Commission suggests alternative resources as VAT, taxes "green" and property taxes.

Another proposal leading risks in contrast to spark outcry among conservatives, echoing an old controversy about the "Polish plumber". This is to overcome the final obstacles to a single labor market in Europe, the U.S. model. "Labour mobility is not sufficient in the EU (…) In order to exploit all the possibilities, it is crucial to ensure a balance between demand and supply of jobs" at European level , the authors note.

Red cloth

On this front, the Commission advances two tracks dangerously undermined. The first is the end of restrictions on employment of Romanians and Bulgarians, programmed by treaty by the end of 2013 but refused by nine countries, including France. The second is the opening of national public employment to all EU nationals, except as validated by the sovereignty of Justice high risk personal loans.

Finally, Brussels waving a red rag in front of the entire European left: that of a national minimum wage that could be differentiated by industry professional, provides a way she, "to support the provision of employment ". The authors do not specify the model. But they ensure that wage floors should be discussed "in consultation with unions and depending on economic developments."

The contribution of the Commission is only prospective. It is unlikely that the communication "Towards an employment-intensive growth 'lead in the state. But it looks quite controversial for the twenty-seven Commissioners wish to review it one last time with the college in full force Wednesday in Strasbourg. Against the backdrop of elections in France and Greece, José Manuel Barroso will leave the public presentation in Hungarian Laszlo Andor, Commissioner for Employment and Social Affairs.

For Brussels, it is clear that the challenge of unemployment requires bold solutions. Lagging behind the emerging powers but also the U.S., the EU has lost 4.5 million net new jobs since 2008. Since January, a second recession in three years has increased the average unemployment rate above 10%. And restarted at the same time a growth debate that nobody has yet really convincing answer

.

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Some 757,515 iPad (at $ 499 each) or even 33 years of compensation of Jeffrey Immelt, the boss of General Electric: The New York Timess'est amused to calculate the envelope that represented outstanding $ 378 million, attributed to Tim Cook, Apple chief executive in 2011, the equivalent of 42,000 dollars an hour. Given the recent surge in Apple stock, this package, largely in restricted shares for at least five years-would be $ 634 million

.

Needless to say, the successor to the boss Steve Jobs is the most spoiled of the United States by its board of directors. According to research firm Equilar for The New York Times, the 100 best-paid bosses of the United States have pocketed a total of last year's $ 2.1 billion. An amount up 2%. On average, each CEO earned $ 14.4 million.

The second, used the charts, Lawrence Ellison of Oracle, has earned $ 77.6 million. The third with $ 53.3 million, Ronald Johnson, who arrived this fall at the head of department stores JC Penney, is a newcomer. In fact, the distributor, for debauch the star of Apple, had to compensate by offering shares JC Penney instead of securities of electronics giant that it could reach if he resigned. A bad deal, so far: the Apple shares would be worth nearly $ 160 million, against less than 60 million worth of JC Penney.

To combat the excesses that contributed to the financial crisis of 2008, Congress passed a reform that pushes for more transparency on the remuneration of bosses and gives shareholders more weight on the determination of these envelopes, containing cash, bonus and stock options.

Yesterday, James Cameron, Titanic director has given the private submersibles under the spotlight the feat by successfully exploring, alone in a small sphere, a site 10 kilometers under the sea off the Philippines.

Certainly, it is far from the submarine Phoenix, luxurious project of U. S. Submarines: $ 78 million and 65 meters long. It can cross the Atlantic in one go and has, height of chic, its own miniature submarine. Maybe he interested Richard Branson, the Virgin boss adventurous. It prepares to dive in the Puerto Rico Trench with its own submarine by 8600 meters of water in search of possible treasures.  

Competition is low: according to the manufacturer SEAMagine, only a dozen billionaires possess a submersible, but more often would welcome megayachts small submersibles one million dollars.

French side, the builder DCNS is on deck: its Nautile, the source of scientific submersibles, may well also realize the dreams of billionaires. Who can do more

.

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Free Mobile customers retain a large majority, confident in their new operator. This is what spring launched a call for evidence on lefigaro.fr, which raised last week over 500 comments.

Two major trends. There are those for which the passage went smoothly and that no difficulty to make calls. "In Grenoble, it captures nickel without using the Orange network," says Andrei. "In some places, the coverage SFR does not allow me to capture correctly and to Free, in the same places, I get the network" welcomes Jules.

"Between 17 and 20 hours, it's hell"

Then there are those, more numerous, who see recurrent problems call for the evening, as well as cuts. "Between 17 and 20 hours, it's hell for making a call. It always fails on "network busy" and you have to try again twenty times to make a call, "says Emily. "Since March 5, the flow of Free Mobile 3G has enormously weakened and is very unstable", complete a resident of Lille.

Yet these customers often forgive the "teething problems" Free Mobile. "When I chose to come to Free, I knew there would be concerns, but I trust the professionalism of Free to solve these problems quickly," says Guy, Internet subscriber for ten years at Free. "At that price, I agree to some problems of network", abounds Paulo, who has spent her entire family at Free Mobile. Anthony, He remembers the difficulties encountered by the first mobile operators. "I suppose we must give some time to Free to upgrade," he considers.

Other customers are less forgiving. "I regret that I spent at Free! Customer service is saturated with calls. This is not a serious operator who was obviously not prepared enough to get into the mobile, "says Vince. "I just changed to B & You (the low-cost brand of Bouygues Telecom, Ed). There's no commitment so, who knows, I may come back when they are at Free at the point, "says Jordan.

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The Wall Street Journal, Google will soon be able to understand the meaning of the words searched by the user and to provide "direct responses", in addition to the traditional ties linking to other websites. These responses, semantic analysis results, will be displayed directly below the search form, as is already the case during a search on the term "weather" for example.

With Answers service, closed in 2006, Google had already tried to semantic analysis by the only means then available: human responses. People were then paid to answer questions from users. Today, the issues will be analyzed directly by algorithms. To recognize the user's request, Google will index all the information available online, relevant to the topic, rather than just keywords. The Wall Street Journal takes the example of a search for "Lake Tahoe" that will display directly the characteristics of the lake at the top of the results. If the user wishes to know the ten largest lakes in California, Google will display the list of lakes in addition to simple links.

Keep users on Google

By posting relevant content directly on the results page, Google users will no longer need to visit the pages indexed. Specialized site for The Verge, "provide direct answers instead of links to other pages to meet the new Google strategy, which seeks to keep its users within its walls, as it does with Google + quick payday loans." Google's interest is to increase the visibility of ads by keywords on the pages of results. This activity represents "the majority of $ 37 billion in annual revenues of Google," says the Wall Street Journal.

This innovation features reminiscent of Wolfram Alpha, a search engine capable of aggregating and format of information available elsewhere on the Internet. Wolfram Alpha is at the heart of the wizard voice of the iPhone 4S, Siri, who can ask a question to his mobile and get an answer directly, without needing to click a link or to seek self- same information on a web page. To do this, the software combines speech recognition and semantic analysis to recognize the words of the user and the meaning of his question. Recently, Anthony DiClemente, chief of the division of Internet and media research at Barclays Capital was concerned about the impact of the Apple software on Google: "Siri can bypass traditional search engines and provide the user with responses that originally would have necessitated a search online. "

Google could also put this new feature to good use in Android mobile. According to TechCrunch, Google is preparing to launch in fact a competitor of Siri for Android, Google wizard.

The livestock industries are less imitators. If the country has the first cattle in Europe with 21 million head of which 8 million cows, the trend is downward. Within a year, the number of cattle farms has declined by nearly 6% from 246,000 in 2009 to 232,000 in 2010.

For reasons of revenue and less arduous, farmers already settled prefer to shift to other crops. "It is easier to return a field to a culture of wheat and rapeseed that raising animals on the same surface, said Jean-Pierre Fleury, secretary general of the Federation Nationale Bovine. It's more profitable and it requires less work. "

Indeed, the average income of a farmer is three times lower than that of a grain. According to latest statistics from the Ministry of Agriculture, the first earns 14,700 euros per year when the second receives over 47,000 euros. Those who want to settle as farmers think twice before so to do.

"These are big capital investments, EUR 1,500 for a cow on average, plus the cost of buildings and work constraints that are not up to the sums involved," says Marie-Therese Bonneau, a farmer in the Vendee .

New markets

At the head of a herd of 100 cattle, Maria Theresa Bonneau understands why the business is no longer recipe. "It makes money only when one retires, waiting must make ends meet and generate cash to pay bills," she says. The job of producer thus raises fewer vocations among young people. "The animal is too restrictive, I head for the forest," says Jonathan, a student at AgroTechParis.

The livestock sector as a whole suffer from other disabilities: the industry's first transformation only to renovate its facilities, the number of slaughterhouses is too important. In addition, this industry does not know the answer to market demand. "The French slaughterers are not able to meet the specifications of buyers, says Pascal Cousté, farm advisor throughout France. Particularly regarding the rate of fat from meat and health standards. "

In the case of pork French example, this translates into an additional cost in the industrial process by 5%. Result: supermarkets, but also the industrial processing, will source outside France, where competition is able to offer lower prices.  

However, the growth of world consumption of about 15% per year, providing a market for breeders. The increase in living standards in emerging countries like China and Brazil offset the decline in red meat consumption observed in developed countries. "New markets are opening to us, in the Mediterranean arc of the Maghreb, Turkey and also in Russia," said Peter Knight, President of the Federation Nationale Bovine. In the beef sector, the share of French production destined for export, now more than 5%, and falls on the rise in recent years.

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Last date black cloud, so the results of Q-Cells, which Monday posted a quarterly net loss of EUR 57 million, a quarter of sales, itself down 43% year on year cash advance to savings account. The bad news have plunged the action Q-Cells up to 30% on Monday in Frankfurt. The German company cited "market environment significantly more difficult than expected."

Nearly 20,000 protesters began to march at 9 am Wednesday in the capital to converge to the emblematic Syntagma Square, political heart of the country. In June, violent clashes with security forces had driven the rally.

"We will send a strong message to the government and political system," promised Tsikritas Costas, head of the ADEDY union representing public service. "We believe that the mobilization will be huge." The general strike could indeed be the largest since a long time.Administrations, public transportation, businesses, and even bakers are required to stop work and march against the rigor introduced by the Socialist government.

This is putting pressure on MPs to discuss for three days from Thursday, new austerity measures. The consideration for the payment of the next $ 8 billion euros, as part of the plan of 110 billion granted by the EU and the IMF in spring 2010.

"Blackmail"

Prime Minister George Papandreou has been determined: "All these people who blackmail and take the country hostage, occupying buildings, leaving garbage piled in the streets, closing ports and the Parthenon, must explain how this will help us get back on our feet Payday Loan for Bad Credit. "

He also called for unity."We must continue this war, as a people, as a government, as a caucus to enable the country to win it, he argued. We will win for the country, we will continue. That's why I'm here. "The head of government has a narrow majority of four seats in Parliament.

However, concerns remain on the eve of the vote of austerity on the discipline of PASOK. A member of the Socialist Group has resigned in protest Monday. Two others have threatened to vote against it. A small opposition party could come in and vote for reinforcement.

The new austerity measures, which account for 6.6 billion euros, include reductions in wages and pensions, designed to place laid off 30,000 employees and to establish a single salary scale in the public .The government also wants to lower the threshold of annual taxable income to 5,000 euros.

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