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Christine Lagarde is more than ever determined to "increase the firepower of the International Monetary Fund", that its financial resources. But if the euro area "is the epicenter of the potential risks" of the global economy, "Europe is not alone … We're not obsessed with one area," said Thursday in Washington, the Executive Director of the IMF during a press conference that opened two days of spring meetings of IMF and World Bank.

Capacity building support from the Fund will be the highlight of the discussions involved in particular the G20 finance ministers. Christine Lagarde has renewed its appreciation to Japan, "the first country that has decided to commit themselves" to the tune of 60 billion euros, while acknowledging "the Scandinavian countries who responded to the call and Singapore."

The Japanese contribution is the first quantified commitment to a non-European. This is in addition to those States of the euro area itself, which from the outset, have said they would put 150 billion euros in the pot (just under $ 200 billion). But Christine Lagarde, who had advanced earlier this year the figure of 500 billion, reduced its ambitions "to just over $ 400 billion" figure it has itself argued in an interview Tuesday Italian newspaper Il Sole 24 Ore.

Bilateral borrowing agreements

The negotiations will be very difficult and should not be concluded this week with the aim of reaching agreement at the annual meetings of October 2012 in Tokyo. On behalf of the United States, Tim Geithner, Treasury Secretary, said two days ago that his country "would not put money" but would support those participating in the operation business card design. Recall that this strengthening of resources take the form of bilateral loan agreements with its 188 member countries (including the last admitted this week is Southern Sudan). It is not a capital increase of the IMF, as such. Now this is where the rub the side of the emerging countries, including China and Brazil, who would like to link this extension means the Fund to an expansion of their representation. Now it is even less question that the last reform of 2010 increasing quotas and powers to the board in favor of emerging countries mainly, has still not been ratified by the necessary majority. Within the G20, Argentina, Canada, Germany, Indonesia, Mexico and the United States, have not yet ratified, do we reported to the IMF.

Christine Lagarde must also combat the widely held in international public opinion that the firewall is only designed to help Europe, Spain and Italy, among others. She also found that Spain does not need assistance plan "for now".

Executive Director of the IMF insisted on Thursday the new initiatives launched recently, as "the trust fund for the poorest countries", mentioning also "the five countries of the Arab Spring, for which we need more resources." But the difficulty is to find a common agreement with the governments, especially with Egypt, for which the loan of $ 3.2 billion from the IMF, which should be a catalyst for international aid, is still pending .

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When companies come to the aid of National Education to better support youth in their future educational and vocational guidance. It is the sense of partnership on Wednesday that the sign of the global giant Accor hotels and restaurants with the Minister of National Education, Luc Chatel.

"The group is engaged since 1993 with the Ministry of Education since it was the first French company to sign the foreground job. But today it is a partnership with a major action plan and quantified over five years, "said Christophe Alaux, CEO of Accor in France.

Often highlighted for its ability to set foot in the door for young or unskilled, through comprehensive training courses and tutorials, Accor's commitment revolves around three main areas: promoting the attractiveness of trades hotels and restaurants (it develops over a hundred through its seven brands) among young school students, enhance the employability of its employees and increase the effectiveness of teacher professional sector.

Each of these areas is accompanied by targets. Accor is committed to welcoming and 3500 youth courses each year. The group will also invite every thirty years of college and high school classes to spend a day in a hotel, while half days in the individual hotels will be offered to college students in fourth and third to help orientation. "A measure aimed at young and unskilled in Ile trouble employability provides Accor organizes a week of immersion in a hotel in France followed by a 13-week stay in Britain including four weeks of language preparation and 9 weeks of training in hospitality, "says Antony Recher, the new HR group, stressing that" the group can give opportunities to public school in big trouble. "

Train teachers

Teacher training side of Trades Catering, Accor plans to take several initiatives. For it is true that innovation is a poor cousin of the present teachings. "We will offer two days of training on revenue management and distribution to the Accor Academy, for 30 teachers each year to train for new jobs in the hotel," says Christophe Alaux. The group also make available educational materials teams and teaching tools (including e-learning software). Professors of the third class will also be greeted by complete immersion for a period of 4 days to discover the hotel trades and receive lights on profiles and skills needed in the sector.

The last part of the agreement, the employability of employees of the group, it will be characterized by the rise of APEL (accreditation of prior experience), puisqu'Accor agrees to accompany each year 100 employees in this process. Each brand group will choose a particular function: Novotel for example decided to help its managers accommodation and restaurant in the VAE for obtaining a BTS housing and tableware. Pullman could commit to careers in housekeeper and maids while watching the IBIS technical track maintenance. In 2011, Etap Hotel, Hotel F1 renewed its device VAE for a group of nine directors, who obtained the Bachelor program of Rouen Business School.

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It only took a month of discussions that management of TNT Express, a former subsidiary of the Dutch post, accept the proposed UPS. The American giant of more than 400,000 employees whose turnover in 2011 exceeded more than $ 50 billion has evolved its offering at a time when TNT Express through a bad patch. This has indeed posted a net loss of 270 million euros in 2011 against a profit of 66 million euros in 2010.

UPS approached by mid-February, leaders of TNT Express had rejected an offer that valued the company 4.9 billion euros. But to 5.16 billion euros, UPS was unanimous. This acquisition will enable the U.S. group found mainly across the Atlantic to catch up. In the business of courier, transporting small packages, UPS accounted for only 7.7% of the European market against 9.6% for TNT Express, Fedex and 3.3% to 17.6% for DHL, a subsidiary Deutsche Post, according to figures from Transport Intelligence firm.

While approaching, the two biggest names in express transportation become a European leader in size to cross swords with DHL and especially a world champion since their continental positions complement each other. An asset to get the green light from competition authorities even if Deutsche Post yesterday estimated that the European Commission would consider merging with caution.

The new group formed should weigh a turnover of $ 60 billion and 477,000 employees. By comparison, another U.S. giant, Fedex, achieved a turnover of $ 41 billion in 2011 and employs 290,000 people.

Target: 50% of international sales

The presence of UPS TNT in different regions of the world should stabilize as sales in the U payday loans online.S. will increase from 74% to 64% UPS only for the new group and Europe will reach 22% after the operation against 14% for the only American group.

"Why TNT is it very attractive?" Asked Kurt Kuehn, UPS's chief financial officer, during a press conference in Amsterdam: "Because he manages operations in areas of the world that were unserved: Brazil, Australia, Middle East, the road and rail networks in Europe. "The objective announced by UPS is to reach 50% of sales overseas in the next five years against 26% at present. 

Financially, the acquisition should help to achieve one billion euros in savings, once the integration of TNT Express will be accomplished. Clearly, the group provides $ 400 to 550 million euros in savings per year from 2015 through improved efficiency of logistics platforms, an optimization of aircraft fleets, purchasing … However, the CFO UPS declined to answer questions on possible job cuts among the ranks of TNT. The transaction, which must be profitable within the first year, could be completed in the third quarter of the year.

It is likely that the competitor UPS, Fedex, will not thwart the hostile bid. Especially since the competitor UPS does not have $ 3 billion in cash.

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packages Kiala

The seller remains liable after the transaction, housing defects that were hidden at the time of sale, when they "make the property unfit for the use it was destined or so impair that use the acquirer n ' would not have made the decision to purchase, or at least not at that price, if he had knowledge "(Article 1641 Civil Code). Conversely, the seller is not liable for defects that were apparent (Article 1642). Case law judge and are latent defects: the presence of termites or asbestos in housing, lack of foundation, the existence of underground quarries generating instability of the frame, the lack of connection to the public drainage wastewater, or noise pollution caused by insufficient thickness of walls.

2 – The seller may be relieved of responsibility?

The seller can clear themselves by inserting in the deed of sale a clause stating that it will not be required to guarantee the buyer in case of defect. These clauses, found in most deeds, are only valid if the seller is a non-professional and is in good faith. Such is the case, for example, a seller who did not know the day of the sale, the presence of mérules (wood-rotting fungi) in the beams of his house, since the diagnostic technique that had commissioned was not one mention.

However, the vendor apparent bad faith can not invoke this clause, for example when he blocked and painted floors and baseboards to conceal the presence of termites, or has done work to conceal cracks affecting the structure of the frame. Attention, even if the seller does not commit any act of concealment, it can be considered in bad faith when it is aware of the defect and that he did not notify the purchaser.

3 – What might the seller in case of discovery of a latent defect?

If the vendor is found liable for hidden defects by the judge, the purchaser has the option, request cancellation of the sale or reduction of its price (sections 1644 and 1646 of the Civil Code). If he chooses the cancellation of the sale, the seller must refund the purchase price and notary fees. If it chooses a price reduction, it is for an expert to determine the amount. The seller in bad faith can also be ordered to pay damages (Article 1645 Civil Code). Attention, the action in warranty against hidden defects must be brought within two years after the discovery of the defect (Article 1648 Civil Code). It is the vendor to prove that the discovery of latent defects occurred more than two years before the introduction of the lawsuit.

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Good news for fans of Whoppers. Fifteen years after leaving France, Burger King returns. According Procos, the federation of specialized retail chains, the giant fast food restaurants will soon open in the new commercial center of the Gare Saint-Lazare. Moreover, according to our information, the sign should also open this year on highway: its first store could be located in Reims, on A4 or on the ASF network which also operates the A 9 between Avignon and Perpignan A 7 or the south of Lyon. Representatives of the sign would also contacted APRR, which operates, among others, the A 6 between Paris and Lyon. But no contract has been signed so far with this network, making it impossible to open before 2013. In the latter two cases, the brand of gas stations Avia would manage these concessions.

Questioned, Burger King recognizes continuing study opportunities to develop in different countries, including France. But his spokesman refused to give more information. Side of Autogrill, which manages 75% of the restoration of St. Lazarus, the CEO in France ensures that Burger King does not open on March 21 for the opening of the mall from the station, nor later than 2012 . The time is propitious yet. "The expenses of the French in fast food rose 4% last year, said Christine Tartanson, Foodservice Director at NPD Group. This is one of the segments of the fastest growing food. Burger King should take into account consumption habits of the French, by proposing a sweetened offer in addition to burgers. "

Since the professionalization of the discipline in 1995, the French Rugby Federation (FFR) has in fact built on these values ​​to develop partnerships and multiply by 2.5 the financial returns from marketing. Each year, the XV of France in his reports only about 58 of some 83 million annual budget of the FFR.In addition to the TV rights and ticket sales, much of this money comes brands. Nearly 25% of the budget of the FFR is a direct result of the five official partners of the national team that is the GMF, Societe Generale, Orange, Nike and Renault.

Every year, each brand spends 3 to 4 million euros to be associated with the image of rugby. Beyond the fitness trail that led the Blues to the final, the behavior of players in the XV of France during the World Cup he chipped in this picture? "No, says Sylvie Lagourgue, Marketing and Communication Director of GMF, the first partner of the Federation (since 1985). There was a very excessive impact of certain statements out of context. There have certainly been some tension, but remain normal in a competition with so much at stake.To get to the finals, we had a good team spirit, group cohesion, commitment … These values ​​were well represented. " A speech echoed William Josselin, director of communications and marketing for Renault France, the most recent official partners of the FFR. "These tensions come to light between the players and the coach Marc Lievremont is not usual in rugby, but there was an exaggeration and a media hype on this subject. The media have really many, many. "

Co-responsible brands

Not enough challenge so positive mythology surrounding the world of rugby. Officially anyway. "The feedback that we have some brands show that there is a question mark around the traditional values ​​of the sport, admits the head of a sports marketing consulting agency.The professionalization leads to behavior change that can alter the image of a sport. Of course brands are co-responsible for this phenomenon, for providing the money, she help change the economy and the functioning of a discipline. "

Meanwhile, no official partner seems to want to question its agreements that fall "over time" in the words of Raphael Niemi, head of sports partnerships at Societe Generale, the other partner Official History of the FFR (since 1987).The contract with the FFR ends in June 2012, but the bank claims to have given a "strong signal of its commitment to rugby," in association already in the World Cup in England in 2015, after s' be associated with the 1999 and 2007.

Inflation likely amounts partnerships

In the meantime, the FFR will have to renegotiate some of its contracts with its partners and official suppliers. And the good performance of Blue could feed the argument to discuss the price. But everyone may not be ready to comply with the requirements. "A price inflation in a successful negotiation implies a downward during counterproductive. If you want to build a lasting partnership can not constantly redefine the rules according to sports scores. Otherwise it has to work both ways and we seem risky, "argues William Josselin at Renault.At Societe Generale, one also anticipates a possible inflation of prices charged by the FFR, but more serene. "The increase in licensees, positive values, and common stock Sports World Cup is actually strong arguments, concedes Raphael Niemi.Nous share the same fight that the FFR and Societe Generale has always been committed to the development of this sport as an integral part of business strategy. This commitment is not only related to the contract rights FFR. "

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Europe is facing economically to "serious challenges", said President of the European Union, Herman Van Rompuy, at the opening of the meeting. He believed that the decisions to be taken by European leaders to address was "perhaps the most important" they've ever had to face the financial crisis.Greek Prime Minister George Papandreou, also felt it was "time" to take "decisive and effective." "It is clear that the crisis (debt) is not Greek. This is a European crisis, "he judged.

German Chancellor Angela Merkel, however, dampened expectations about the outcome of the summit, from the outset, reaffirming that decisions could be taken next week. "For me it is important to reiterate that today we prepare the decisions of Wednesday" because the negotiations are about "subjects sometimes technically very complex, she said on her arrival in Brussels.

"You have to reassure the markets"

For its part, the Belgian Prime Minister Yves Leterme has tried hard not announce anything at all on Sunday, in light of market pressure."It is essential for tomorrow morning at the opening of markets, we have made sufficient progress so as not to jeopardize the credibility of the euro area," he said. Same story for the European partners have not adopted the single currency, which are concerned about the fallout from the debt crisis. "The crisis in the euro area is being extended to all our economies, including that of Great Britain ', launched the British Prime Minister David Cameron.

What response to the crisis the Europeans do they negotiate? This response is intended in three stages. It must first stabilize the over-indebted Greece and save him a total failure. This will require further international loans and losses of creditor banks in the country. Europe the figure to at least 50%.According to the report of the troika (representatives of the EU, the ECB and the IMF), the discount should be 60% to maintain unchanged the envelope of € 109 billion promised to Greece, as part a second rescue plan officially recorded on July 21 payday loans for self employed. "We remain willing to explore options on a voluntary basis [for each facility, Ed] and realistic prospects for the economy of Greece and the return of that country on the capital markets," said Charles Dallara Saturday night , the president of the Institute of International Finance (IIF), which brings together major global banks.

In return, a bank recapitalization is provided. Countries of the European Union discussed a budget from 107 to 108 billion euros at the meeting of finance ministers on Saturday night. Remains to define the terms.

It will also strengthen the Fund's financial assistance for the euro area countries in difficulty, the EFSF, firewall against the contagion to Italy and Spain. But differences remain on how to do this, especially between France and Germany. Yesterday, the French proposal to grant a banking license in EFSF was discarded. Only two options are being discussed to increase the firepower of the device: the mechanism acts as a partial insurance of the public debt of troubled countries or the IMF is expected to increase its participation in the scheme.

European governance side, Angela Merkel reaffirmed that a "change treaty should not be taboo", to improve fiscal discipline among member countries of the EU. The topic will be on the table at the summit today.Yesterday, the German foreign minister, Guido Westerwelle, proposed to bring in the future before the European Court of Justice countries too lax on the budget in the euro area through a revision of the Treaty of the European Union. In addition, leaders should appoint Herman Van Rompuy, the EU president, as head of the eurozone, according to a draft final declaration obtained by AFP.

For the summit this Sunday, German Chancellor and French President had also met Saturday night to try to resolve their differences, following a meeting of EU finance ministers. They both welcomed the "progress" and "advanced" made in the negotiations.

(With agencies)

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Tens of thousands of demonstrators, inspired by the "outrage" of Wall Street and Spain, marched on Saturday in Rome, the city had been cordoned off by police. "One solution, the Revolution!", "We are not property in the hands of bankers," could be read on the signs of the protesters.

In Rome, two cars were torched. Photo credits: ALBERTO PIZZOLI / AFP