Fuel prices: The Sparks Fly between Total and the state

The increase in fuel prices is again up for discussion Tuesday. An interview will take place during the day between the Minister of Economy Baroin and CEO of Total, Christophe de Margerie. It warned that rising oil prices would be passed to the pump. Fuels should be increased from one to four cents more when they have already returned about two cents last week.

The government, for its part, wishes to inform that he "will remain very vigilant: there is no question that this effect is faster in case of decline," said the ministry in a statement. "This commitment by fuel distributors and the government ensure its respect."A meeting between Christophe de Margerie and Energy Minister Eric Besson is also scheduled for July 19.

Policies in the running

In this time of holiday departures, policies are indeed in line to demand that the impact of oil price increase is gradual. Prime Minister François Fillon has ruled that the proposed Francois Hollande to freeze fuel prices during the summer fell within the "demagoguery." "We must also tell the truth", that is to say "that oil will rise" over time, said the Prime Minister on Europe 1. And rather than to invent solutions that make no sense if not to influence the growth or the French taxes, we must work on alternatives to oil. "

François Fillon also said he "found that in June, the decline has been very well reflected by the distributors.It's a little less sure about the month of May, we are doing checks. " It responds to the controversy that has swelled after the statements of Xavier Bertrand: "When the oil increases, prices (pump) increase immediately. When the oil drop, it is always more time. We must stop to consider that the French have no sense, "denounced the Minister of Labour on Sunday. "To say that the price evolution is faster in one direction than another is not fair," retorted the President of the French Union of Petroleum Industries (Ufip), Jean-Louis Schilansky. Christophe de Margerie, in turn, ensured that the increase would take place Monday "as gently as possible."

Within the Socialist Party in the countryside for the primary election, the subject has provoked many reactions among candidates.Martine Aubry, said she was "very shocked by the decision of the President of Total" to pass on the rise the rise in oil prices: "I found both indecent and even provocative." To offset the price increases, the candidate suggested to lower the TIPP (domestic tax on petroleum products) and "tax the super oil profits."

"What is unacceptable today, it's that kind of inaction before a real scandal, said on his side Segolene Royal on BFM and RMC-TV. Total has 10 billion euros in profits (in 2010, note) and when the price of crude oil production decline, this decline is not passed to the consumer. " Finally, the spokesman for the PS, Benoît Hamon, assured that if the left came to power in 2012, "the impunity of the oil companies" would be "finished".

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Who's next boss Bercy?

• Baroin: • promoting Valérie Pécresse: reward • Bruno Le Maire: the outsider

The countdown is running. Christine Lagarde flew to Washington Tuesday. Wednesday and Thursday, she will spend his "great oral" before the Board of the IMF. Which will meet Tuesday to discuss the nominations before appointing a successor to Dominique Strauss-Kahn on June 30 at the latest. Barring a surprise, the Minister of Economy should take precedence over Mexico's Agustin Carstens. His entourage has the head across the Atlantic: "I proposed to the team Baroin to come and visit our offices to make the identification, said one adviser Christine Lagarde. They said: "It would be bad luck!" "

Several ministers are indeed in the running to replace Christine Lagarde. Budget Minister campaigned for weeks.His colleague of Agriculture, Bruno Le Maire, also dream of Bercy. But he seems to have thrown in the towel. The Minister of Higher Education, Valérie Pécresse, which has the support of Christine Lagarde, fingers crossed, too. "Lagarde loves Pécresse, provides an advisor to the Minister of Economy. She believes that appointing a woman to a woman's place is important. But it will not interfere. It is at a different level. It will soon have a status of head of state … "

First outsider, Valérie Pécresse seen its rating go up. She met with Nicolas Sarkozy on Wednesday, after the Council of Ministers. The head-to-head was officially on the large loan and the press conference the President on the subject Monday. But Sarkozy had discussed with her the replacement of Lagarde.In the majority, some believe that appointing a woman to this key position could serve as an able-fire against the candidacy of Martine Aubry in the primary PS, around June 28 "It is played between Pécresse and Baroin," believes a close associate of President. Anyway, the head of state will be careful not to harm women, already under-represented in key government positions since the departure of Rachida Dati and Michèle Alliot-Marie. "The president does not send negative signals about gender or diversity," Elysian swear an advisor.

"The king of herrings"

The head of state could also bring a handful of secretaries of state, whose arrival is announced in the fall. Two positions, at least, are vacant: Public Administration (since the departure of Georges Tron) and Veterans Affairs.If the president decides to bring more "new faces", it "out" of the incumbents. The Minister for Sport, Chantal Jouanno, could start to concentrate on the Senate. "We predicted a reshuffle at minimum, but the president could take this last opportunity to reshuffle the cards before the presidential election," warns a consultant Elysian.

Nicolas Sarkozy should especially take this opportunity to send signals to the centrists. "He wants to crack the clan Borloo," says an adviser. The Secretary General of the UMP, Marc-Philippe Daubresse, told relatives that he had received "assurances" of the president. He also began to prepare his cabinet. In a head-to-head, May 30, Sarkozy had mentioned to him a nomination "for Higher Education or Agriculture."The head of state could also try to "poach" the faithful lieutenant of Borloo, Laurent Hénart. Or, failing that, the former Minister for Overseas, Yves Jego.

The name of the UMP des Alpes-Maritimes, John Leonetti, who chose to live the radical sensibility within the UMP, runs well. The President has recently paid tribute to his "loyalty". But this expert on health does not agree with the health minister, Xavier Bertrand, who had vetoed his appointment in the latest revisions. MP centrist Maine-et-Loire Laffineur Marc is also discussed.

At the Elysee, is amused by this shell game. "The president in secrecy, says a consultant. It is the king of herrings. This will be between him and Xavier Musca. Even between him and …. "" The principle of a reorganization, is the surprise, "says the former minister Brice Hortefeux.

Baroin: promotion

Since coming into office in March 2010, Baroin was a faultless performance credit report. Budget Minister has managed to impose fiscal discipline to his colleagues in government, cutting spending and up to tackle the sacrosanct tax loopholes. Last week, under his leadership, the National Assembly adopted on first reading the supplementary budget, which confirms the removal of the tax shield and the reduction of the ISF. After inheriting the carrier parolat in November 2010, as Chirac ministers could it rise again in the government hierarchy? Many are in the majority, think he was already "well served". If appointed, the mayor of Troyes should release the carrier parolat. But it would keep the Budget. "The president likes him, but it a little suspicious," says a heavy weight of the UMP.The promotion, however, would give new pledges to Chirac, less than a year of presidential elections.

Valérie Pécresse: the reward

It was on the brink of being appointed Minister of Justice in November 2010. But the departure of Jean-Louis Borloo had distributed the cards, bringing the president to give the keys to the Place Vendome in centrist Michel Mercier. Valérie Pécresse has remained in Higher Education, under its charge since May 2007. A record of longevity that allowed him to impose the autonomy of universities, often presented as one of the most emblematic reforms of the quinquennium. "It showed it was broken in the dialogue," said a relative. Deemed "woodcutter" Pécresse is a graduate of ENA and HEC. She speaks English and Russian, and "getting by" in Japanese.Christine Lagarde to Chantal Jouanno, many women ministers would like to see at Bercy. But that Chirac, who sometimes appears as "a good little soldier," a disability: she has never been among the close to Nicolas Sarkozy, sometimes it annoys. For many in the majority, yet it seems that the "best position" to Bercy.

Bruno Le Maire: the outsider

Barring a surprise, Bruno Le Maire should remain in agriculture. He dreamed yet to be entrusted with the Economy, as he had dreamed of Foreign Affairs in 2010. "With each redesign, the Mayor is an active campaign, the air of nothing," enjoys a minister. The former right hand of Dominique de Villepin, whose rise in "Sarkozi" has been meteoric, has serious advantages. Normale technocrat and he mastered the economic issues. Also the IE speaks English, German and Italian started."This is a contest of economics, not of languages!" Squeaky Elysian counsel. The Mayor has invested heavily in the agriculture component of the G20, is prowling and multilateral negotiations. But Sarkozy fears of destabilizing the farmers, who appreciate their minister. The Mayor would also annoyed by "highlighting" the role of project manager in 2012: "For the president, only the Socialists in the country, says an adviser. Put themselves forward on the project was awkward. "Failing to be appointed at Bercy, the Mayor may be given door-parolat.

Mr. X: The temptation of an expert

The magnitude of the crisis in Greece could it bring Nicolas Sarkozy to choose an expert on economic Christine Lagarde to succeed? A heavy weight of the majority is seriously considering this option, arguing even the name of Thierry Breton, CEO of Atos Origin.The former Minister of Economy (2005-2007) mastered the issue of public debt. His appointment would also have political virtues, the source said, "Breton is a friend of Chirac, Raffarin and de Villepin. And they bite Borloo he is near. "Many consider this hypothesis unlikely:" What interest would have to leave the private Breton for an acting position on the eve of 2012? "Enjoys a counselor. The name of the centrist Anne-Marie Idrac is also cited. Edouard Balladur was blown to the president. Former Minister of Foreign Trade may assert a strong background at the head of the RATP and the SNCF. But it is "not aligned" with Sarkozy and "speaks her mind." The government, cohabitation was not always easy with its responsible Minister Christine Lagarde. However, the next holder of Bercy will get along with the next IMF chief.

New finance minister for Greece

The name was the most anticipated of the new finance minister. This will be the former Defence Minister Evangelos Venizelos, who is also Vice-Premier, announced Friday a spokesman of the Greek government.

The new finance minister succeeds George Papaconstantinou, in office since the victory of the Greek socialist party (PASOK) in the legislative elections of October 2009. Principal architect of the austerity suffered by Greece to cover its deficits, George Papaconstantinou was in the front line of the anger expressed in the street by the Greek people. Finance aside, it remains in the government team in charge of the Environment.

Curb the social crisis and negotiate with creditors

Before arriving in the team Papandreou, Evangelos Venizelos, 54, had held many ministerial posts in previous socialist governments in the mid-1990s, including the voice of the government, Minister of Justice and Minister Development. He will now have the task of curbing the financial and social crisis in Greece and negotiate with creditors.

In Defense Venizelos is replaced by a close associate of Prime Minister Georges Papandreou, Panos Beglitis.Another relative, Stavros Lambrinidis, was appointed Foreign Affairs.

Faced with conflicting pressures of creditors of the country and the street, and the refusal of the main opposition party the right to form a national unity government, the prime minister announced Wednesday he would proceed to reshuffle and he would ask in the wake of confidence in parliament. By sacrificing his finance minister, George Papandreou shade his last card. If the new team fails to resolve the crisis, keeping its own head of government will be compromised.The question is whether this game of musical chairs will be enough to calm the anger of the street.

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Facebook declined in North America

Endtime, accident or simple miscalculation? The latest results are already hearing from Facebook debate. Produced by the research department of the information website Inside Facebook – Facebook is independent of the company itself – these statistics indicate that the most famous social networks would decline among Internet users in North America. Facebook has lost 6 million users in the United States between April and May, and 1.52 million in Canada. The community site will now respectively 149.4 and 16.6 million active members.

Based on his own analysis tool, Inside Facebook has also found a small erosion of over 100,000 active users, markets UK, Norwegian and Russian. Box of 687 million active members worldwide, Facebook has however continued to rise over the period.Drawn by Brazil, Mexico and India, the social network has expanded by nearly 12 million Internet users.

Other alerts

Inside Facebook remains cautious about the meaning of these figures. "We're going supervision is closely to see what trends emerge over the long term, note the service. Bugs in the Facebook advertising tool and we get this information, seasonal changes, such as for studies, and other factors can influence short-term figures on a month and hide what is really happening. "

It is also not the first time that analysts observed a drop in speed at Facebook in the U.S.. Last March, the Institute of audience measurement Comscore noted a slowdown in the growth of Facebook in the United States. In April, Nielsen had warned about a decline in time spent by users on Facebook.Farther still, Nielsen had been a decline of 5% of Facebook users in the United Kingdom in early 2008! Explored by 8.5 million UK Internet users then, the social network now boasts over 29 million.

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Why the drop in oil is reflected at the pump hurt

As with every drop of crude on international prices, oil is accused of failing to pass the motion on the price at the pump. After soaring oil in April, hoping motorists in early May, quickly see the effect of receding oil prices on the invoice to the service station. He had to wait.

From May 2 to 13, the price per barrel fell from 125.85 dollars to 114.65 dollars in London. However, prices of MS 95 have fallen by an average of … zero cents, while diesel fell 3 to 4 cents in the period. Those are the findings of a study by the Directorate General for Competition, Consumption and Fraud published Monday.

Threats Bercy

This report, the Minister of Economy Christine Lagarde, the accuser is: he believes that dealers could have decreased the price of 6 cents per liter of SP95 and that 4 cents of diesel between April 2 and May 15 Given this apparent unwillingness, Bercy threat sector to impose lower prices.

In reality, it took until May 20 to observe the first tangible effects of the sharp fall in international prices of black gold. It has thus been two full weeks or 10 days, so that the prices displayed in service station finally decrease to the SP 95, 3.4 cents, to 1.515 euros per liter on average.

Operators have taken advantage of the ten days of falling oil prices to restore gross margins by not amending hardly prices at the pump. Immediate expense of consumers.According to calculations Figaro.fr this margin, which can amortize the costs of transportation and distribution, has in fact increased between the first and third week of May, the order of 2 5-3 cents per liter of MS 95.

Cushion the impact

If retailers wanted to restore their margins, it is because they were compressed during the surge in oil prices during the month of April and early May. "When prices at the pump exceed 1.50 euros per liter, operators tend to cushion the impact on the customer taking on them," says Jean-Louis Schilansky, president of the French Union of Petroleum Industries ( UFIP). So when crude prices went back down, "there was little effect of margin recovery," he admits.

The authors of the study reached the same conclusion, noting that before the falling price of a barrel in early May, traders will puncturing an unusually low margin per liter of MS 95. Namely between 8.3 cents and 2.1 for the majors cents for large surfaces. Still, oil has long been suspected to better pass on increases in the fuel decreases. As in this report INSEE dating from 2002, clearly titled: "The fuel price is more sensitive to higher rather than lower crude oil."

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Lagarde defended in Europe to replace DSK IMF

Europeans, eager to retain the IMF's management after the departure of "DSK", begin to discuss openly the candidature of French, but the list of contenders is growing and emerging countries also want to have their say.

Sign of the Times, the New York Times did on Thursday the French Minister of Economy "the favorite" for the succession of "his friend and colleague, Dominique Strauss-Kahn to head the International Monetary Fund (IMF), never again led by a woman.

To succeed the CEO of International Monetary Fund who resigned after being arrested in New York on charges of sexual assault, "Ms Lagarde is one of the obvious candidates," said Swedish Finance Minister Anders Borg.He praised Thursday the "influence and experience" of his French counterpart.

German Chancellor Angela Merkel also support a bid from the French Minister of Finance reported Thursday leHandelsblatt citing sources close to the ruling coalition in Berlin.

In France, too, are many voices to highlight the qualities of Christine Lagarde. It would be a very, very good candidate, "and think the French State Secretary for Transport, Thierry Mariani. But "it will be difficult" because "it's not just France, alas, that dream of having the direction of the IMF," he admits.

A very solid reputation in Europe and beyond

According to a European source, "Lagarde has a very good profile, a very solid reputation in Europe and beyond."At 55, Christine Lagarde can highlight his impeccable English, his American experience crowned by the Presidency of the law firm Baker & Mckenzie business, and especially his driving smoothly at Bercy for the financial and economic crisis and French presidency of the G20. His supporters also emphasize his longevity in a department that has been for nearly four years and had seen a parade before her seven ministers in as many years. He praised the international stature of the regular at the World Economic Forum in Davos. Being a woman is an advantage, given the underrepresentation of women in international forums.

But after the case involving Dominique Strauss-Kahn, who prevented his third successive boss to finish his term, the IMF can he risk that the future occupant of the position of having to turn legal troubles? A French prosecutor Christine Lagarde recently threatened an investigation in a case linked to former businessman Bernard Tapie payday advance online. "We try to get dirty" she had said in an interview with Le Figaro. But the satirical weekly Le Canard chained fueled the controversy this week saying it had ignored several times in this matter the opinion of counsel of his ministry.

So far, the main interest will not tell if she is tempted by the post."Any application whatsoever, must come from the Europeans, who come together, all together," she was still merely said Thursday.

Now the governor of the Dutch Central Bank, Nout Wellink, sees "a great candidate" in another French: the president of the European Central Bank, Jean-Claude Trichet, who completes his term in late October.

Asia not united enough to push one of its representatives

In Germany, the press has mentioned several names, but the government did not knighted. It would indeed be conducive to Christine Lagarde, according to some newspapers. As for the Belgian Finance Minister Didier Reynders, he painted a portrait of the ideal candidate …like him furiously.

Debt crisis in the euro zone requires the Europeans want to retain the IMF's management, they are the main financial contributors and provides valuable support at this time in Greece, Ireland and Portugal. The European Commission has yet claimed Thursday a European candidate "strong and competent."

Since 1946, the IMF has been headed by a European, the Americans in exchange for getting the World Bank. An arrangement criticized in the world. "The time is gone when this important post was reserved for a European citizen," warned Brazilian Finance Minister Guido Mantega.

"The new emerging markets and developing countries must be represented at the IMF management, also said the spokesman of Chinese Foreign Ministry, Jiang Yu Asia does not seem united enough to push one of its representatives.At a recent meeting of the Asian Development Bank in Hanoi, many are even ministers expressed support for Christine Lagarde, Julius Caesar by Parens, an expert from the Institute for Monetary Affairs in Tokyo.

The Commonwealth of Independent States (former USSR minus the Baltics and Georgia) has decided to propose the head of the Central Bank of Kazakhstan Grigory Marchenko.

And many observers are betting on former Turkish finance minister Kemal Dervis, who has not yet declared.

(With AFP)

CL: Tapie responds to accusations

This is yet another twist in the case Tapie – Credit Lyonnais. Nothing seemed to preclude the payment of 285 million euros to the former businessman after the tribunal's decision of 7 July 2008 that condemned the Consortium de Réalisation (CDR) for the management of liabilities Credit Lyonnais in the dispute between Bernard Tapie, Adidas business background.

But on Wednesday, an information report of the Finance Committee of the National Assembly has given fuel to the fire. The latter, which precedes the imminent publication of a report from the Court of Auditors on the subject, believes that the arbitration agreement, which included the waiver of any right of appeal, had "signed a different version" that mentioned by the Board of CDR.

At the heart of the controversy: a possible addition of the notion of "moral damage" between the first version of the document and the version eventually signed. The first version approved by the Board of CDR would have limited "the amount of all claims [the lawyers of Bernard Tapie] to 50 million euros". The compromise finally signed limit "the amount of all of their claims for moral damages of 50 million euros".

According to Jerome Cahuzac, Rapporteur and Chairman of the text of the SP Committee on Finance of the Assembly, the wording should have been falsified at the time of signing. Moreover, the failure to submit the "moral damage" to the ceiling of 50 million euros would have allowed a much higher compensation finally Bernard Tapie. These facts, if true, are likely to cancel the arbitration decision.MP sees "a substantial change in conditions of the compromise in a way that will prove very supportive husband Tapie and very costly for public finances." He said the subject would be "of paramount importance for public finances since the compensation for moral damages was left to the discretion of the judge that the arbitration process is confidential (…) and that are n had not to pay taxes. "

Bernard Tapie cons-attacked on Friday. In a letter to Jerome Cahuzac, which Le Figaro has obtained a copy, he recalls that "the state so taxpayers through the Credit Lyonnais at the time nationalized bank, made a profit at its expense and an illegal manner four times what it was made. "It also accuses Jerome Cahuzac have written a "partial report" and not taking "account of exculpatory evidence in its possession." The Administrative Court had approved the use and "to arbitration even though the CL there was unfavorable" and above had validated the concept of "moral damage, for which compensation is intended primarily to cover the insufficiency of assets As part of the liquidation, by referring to the abnormal behavior of the bank in respect of spouses Tapie, accompanied by a media campaign particularly violent. " Interviewed Friday by Le Figaro, Jean-François Rocchi, president of CDR, "insane" n'entretenir tampering and ensures "no relationship with Bernard Tapie.

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Didier Migaud, it's not just the TFR reform

"In Germany, they were clean before us." This Sunday, Didier Migaud first President of the Court of Auditors, relied on the report of the institution on fiscal convergence between France and Germany to remind the Government that the tax reform should focus on removing tax loopholes . It is a matter to be "addressed first," he told the Europe 1 radio mic.

Didier Migaud, the finding is indeed clear: "The attitude of the income tax is too narrow and too often questioned."It calls for review of certain practices, such as "devices in Overseas" and "tax loopholes on corporate taxes" that may "cause problems" or "tax loopholes on tax income, which can be considered to excessive levels and contribute to the tax on income from a certain point, becomes regressive. It raises issues of tax justice, "he says.

Do not focus on the TFR

The president of the ECA is concerned that the current debate, focusing on the TFR, not moving in the wrong direction cheapest personal loan rates. Of course, "reform may well be envisaged" because this tax "now has a rate higher than the original even though the return on capital is now lower than at its inception" .However, the ISF must "not necessarily be the main topic" of discussion on tax reform, led by the government. "When you look at the weight of the ISF in the French tax system: 4 billion euros in revenues, while the overall property tax is around 33 billion euros," he recalls.

Conversely, tax loopholes should be the central concern "given the explosion we have witnessed in recent years," he says. He added that "the consequences of the 2011 decisions in terms of reducing fiscal and social niches are low. The student can do better. "

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The title goes to the restaurant, smart card

Finished the paper, the title goes to the restaurant smart card! This small digital revolution, become the norm for millions of employees living in Latin America, will arrive in France. It should become a reality in the coming months. "Is it 2011? Clearly not. But in 2012, certainly, "says Jacques Stern, Chairman and CEO Edenred first issuer of restaurant in France, with its" Ticket Restaurant "(36% market share in 2010).