The high yields are sought by individuals

The increased volatility in equity markets and the low pay of traditional investments (2% on average for tax-advantaged bank books, money market investments 0.7% and around 2% for bond funds invested in conventional bonds) to encourage More and more investors to find the funds to share so-called "high yield" or directly select actions with good yields.

The temptation is great indeed try to take advantage of very high salaries offered by many CAC 40 stocks: 11% more than expected this year surFrance Telecom, Vivendi 9.6%, 6.9% of GDF Suez and Total and 6.5% of Suez Environnement. These attractive rates are much higher than the average of the CAC 40, which is already high at 4.8%.Level itself almost twice the performance of government bonds to 10 years.

The promise of return is high, but these values ​​traditionally considered defensive have been unable to withstand the market downturn. All titles in the list of the highest yields in the CAC 40 fell in the same proportions as the index. After sharp declines occurred in recent months, however, many experts believe that the values ​​of performance should begin to put up a good resistance in the event of further decline. It would be a good time to get involved.

Stocks or mutual funds

There are two ways to play the performance faxless cash advances. The first is to buy direct from companies offering high dividend.But instead of seeking the largest dividend, better focus its durability, good visibility on the evolution of profits and growth prospects minimum without which no development of the company is possible. Therefore rather than focusing only on the most spectacular returns, such as France Telecom, it is better to diversify its choice of titles, such as GDF Suez, Total, Suez Environnement, Vinci, EDF, and Sanofi. Many companies that offer potential returns of 6.5 to 5%.

The alternative is to opt for funds that specialize in this type of security. During the last few months none of them has survived the market downturn, but the restoring force that is the prospect of good pay should start playing in their favor.Many French funds have over the years specialized in actions "high performance". Among these are: Habs return, Ecofi Performance Shares, Performance Oddo, LFP Performance Shares Growth, growth yield values ​​(find details of all these funds Star.fr Morning) or a new fund under Luxembourg law Groupama AM G Fund European Equity High Dividend.

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Park the car with his phone

This is one of the innovations that made the most about her at the Frankfurt Motor Show. The French supplier Valeo has developed a system, called Park4U Remote, which allows to park your car while remaining outside it, with his mobile phone.

The application detects the parking spot, then maneuver the car away, receding, Braque, braking, forward and contrebraque any one until it is completely parked. The Utisa has to keep its finger on the smartphone to make the whole operation.

To stop everything, just lift the index. Interest: fit into small spaces on the street or parking lot, between two poles, without damaging the vehicle. To leave, you can also get the car out of the slot with his phone, if the door opening is made difficult by the narrowness of the place.No release date is currently indicated by Valeo, which currently markets a parking assist system semi-automatically.

One thing is certain, if this product becomes public, be flying his phone will become more annoying than ever.

Automotive: car pulls herself

Player Figaro BFM

Meeting in Greece: the Nikkei rebounds

In the wake of Wall Street, Asian stock markets have recovered what color jeudi.L all the places welcomed the determination shown by German Chancellor Angela Merkel, French President Nicolas Sarkozy and Prime Minister of Greece George Papandreou at a meeting telephone Wednesday night, to get out of Athens crise.Après have closed down the day before, and the Nikkei gained 1.48% to 8644 points at a time of closing.

Investors seem so, for now, somewhat confident about the ability of the euro area to help Athens to avoid bankruptcy the country. Wednesday night, the Franco-German and was convinced "that the place of Greece is very much in the euro area."But on one condition, also very explicit: "The implementation of strict and effective recovery program of the Greek economy supported by the countries of the euro area and the IMF and which conditions the disbursement of future tranches of the program. "George Papandreou was quick to deceive, confirming" the absolute determination of his government to take all necessary measures to implement all commitments. "

More good news, the Brics (Brazil, Russia, India, China and South Africa) announced Wednesday that they could increase their holdings of bonds denominated in euros. Thus, Brazil was prepared to participate in a "global effort" against the economic crisis that affects rich countries, said the same day the President of Brazil Dilma Rousseff.Meanwhile, Italy, whose rates have soared during bond, has denied media reports that she would have asked China to invest in debt.

Oil continues to fall

Japanese banking stocks and welcomed the ads. After being jostled by the market and Mizuho Financial Group rose 0.90% to 112 yen and Sumitomo Mitsui Financial Group 1.06% to 2094 yen.

Other Asian stock markets follow the upward trend of the Nikkei. The Hang Seng Index of Hong Kong Stock Exchange rose 0.47% to 19,134.45 points, the Kospi index in Seoul Composite climbed 1.12% to 1768.75 points. The S & P / ASX index in Sydney rose by 0.74% to 4035.40 points, the FTSE Straits Times of Singapore appears an increase of 0.56% to 2754.58 points.In contrast, the Shanghai Composite Index down 0.02% to 1484.45 points, like the BSE Sensex 30 Index of Bombay, which was down 0.39% to 16,643.70 points.

On the foreign exchange market, the euro appears down 0.16% to 1.372 dollar on Thursday. In turn, oil prices continued to decline in Asia, after figures showing a decline in demand for refined products in the United States, and while the markets remain worried about the situation in the euro zone, analysts said . In early electronic trading, a barrel of "light sweet crude" for delivery in October lost 43 cents to 88.48 dollars per barrel of Brent North Sea crude for October delivery 53 cents to 111.87 dollars.

Hotels: 150 euros per night taxed?

The Finance Committee of the National Assembly on Wednesday adopted an amendment removing the increase in the VAT rate in the theme parks to theme. Then Saturday, Jean-Pierre Raffafin said the head of state had waived this. If the professionals, and local elected officials – Jean-Pierre Raffarin and Philippe de Villiers in the lead, have welcomed the government ends up in turn with a hole of 90 million – expected gain with the increase in VAT – in new revenue under the austerity plan. There is indeed little chance that the measure be reinstated Tuesday by the parliament met in extraordinary session.

But the government was clear: any measure removed must be compensated. Asked on Sunday to go to Europe Grand 1-Le Parisien / Today in France-i-Télé, Labour Minister Xavier Bertrand described the week ahead of "week of choice."Present at the close of the Campus UMP Marseille, Prime Minister François Fillon has assured that "nothing is taboo and nothing is left" in the savings plan. "The government is open to criticism and amendments provided they do not involve the amount of effort, nor their balance," he said.

0 to 14%

The general rapporteur of the Budget, the UMP Gilles Carrez therefore working on a measure that would affect this time the luxury hotel, the four, five star and luxury hotels in France. Since the 1960s, the area has a rate of 5.5% VAT. A niche that has cost 930 million euros this year to the state. Hence the idea of ​​submitting the luxury hotel at the standard rate of VAT at 19.6%.

For compatibility reasons, the European creation of a flat tax is now considered. He should table an amendment on Monday late afternoon.It provides that the tax would be due when the room rate exceeds 150 euros per night. It is progressive from 0% to 14% between 150 euros and 300 euros per night and would be fixed at 14%, for a price above 300 euros per night.

Politically interesting

Taxation of luxury hotels is considered politically attractive by some parliamentarians, while the tax on high incomes, which will be discussed in the fall, was ridiculed by the opposition and is not high enough to taste of some big names of the majority. But professionals do not agree. For Jacques Borel, consultant-lobbyist, the measure would be "shooting in the foot."

Secretary of State for Tourism, Frédéric Lefebvre agrees.He told AFP on Friday to be opposed to any measure that overtaxed the luxury hotel, and "deal a blow to the competitiveness" of the French tourism. "I am adverse to anything that overtaxed the luxury hotel business because it is precisely the quality and upmarket who left the area of ​​crisis," he said. As for the Synhorcat, union of the profession, he said that a tax of 33% between 1981 and 1994 on 4-star hotels of the period, against 7.5% for the rest of the hotel, had resulted in what "Many of these hotels" will downgrade "to escape the VAT hike."In Le Parisien, Aujourd'hui en France, director of the Plaza Athénée expressed this weekend's fear of his clients go to other capitals as cheaper in Italy or Spain.

Valérie Pécresse, making his debut as budget minister in the chamber Tuesday, said "respect" the parliamentary debate. But it should not drag on so that everything is completed before the Senate elections of 25 September.

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The concern again lead the CAC 40

Friday promises to be as black as the night before at the Paris Bourse. The CAC 40 was launched on the day down 0.37% to 3064.49 points. But around 9:40, the drop is accelerating: the Paris index unscrewed from 3.44% to 2970.13 points, releasing the threshold of 3000 points. London and Frankfurt lost respectively 1.10% and 1.36%. 2.19% loose Madrid, Milan were down 2.14% and 1.76% in Zurich.

Operators are struggling to recover from their emotions after the new European stock markets plummeting and U.S. Thursday. This morning, Asian stock market sent negative signals with indices in very sharp drop. This bad mood due to a surge in concern about the state of the global economy, reinforced by poor indicators of the Atlantic.Bad index measuring the Philadelphia Fed manufacturing activity in the region, lower sales of existing homes in July, new jobless claims rising again during the second week of August … All signs of the apparent stagnation of growth in the United States.

Concerns about U.S. growth fears add to the debt crisis in Europe, European banks are the first to bear the brunt. In its Thursday edition, The Wall Street Journal reported on fears the U.S. Federal Reserve on the liquidity of European banks. And for the first time since February, the European Central Bank (ECB) has given a major dollar loan to a European bank, whose identity was not revealed.An action that reinforces doubts about the ability of banks to refinance.

Morgan Stanley has added his two cents to panic, explaining that she perceived the United States and Europe as "dangerously close to recession." The President of the European Union, Herman van Rompuy, tried Thursday to calm the mind by ensuring that there was "no new recession" in sight. And this morning, Chinese Vice President Xi Jinping has reaffirmed that the U.S. economy was "resilient". In vain.

"The bears are back"

"The bears (pessimistic players, ie) are back in force that night, after disappointing U.S. economic indicators and renewed fears about the stability of European banks, which prompted investors to push the button sales," said Ben Potter, an analyst at IG Markets in Australia."There seems to be getting ready for a weekend very ugly, with a market dominated once again by fear and panic," he added.

Gold reached a new record Friday morning in Asia, to 1,837.50 dollars per ounce, due to the concern. And oil, which fell 6% in New York yesterday, continues to fall in morning trading. A barrel of "light sweet crude" for September delivery lost 1.69 dollars to 80.69 dollars while that of Brent North Sea crude for October delivery gave 68 cents to 106.31 dollars.

No significant indicator that could reverse the trend, are expected on Friday.

Values ​​to follow

The banking sector

European financial stocks, which had been rolled by a renewed tensions in the interbank market and concerns about the short-term refinancing of banks are still misguided.BNP Paribas (-3.22% to 33.11 dollars), Natixis (-2.90% to 2.81 dollars), Credit Agricole (-2.70% to 6.06 euros), Société Générale (-2, 69% to 21.02 dollars) and AXA (-0.56% to 10.28 euros) are in the red.

Danone: -1.75% to 46.05 euros

Nestlé, the group became a favorite activity for infant formula, Wyeth, Pfizer subsidiary, valued at approximately ten billion dollars (seven billion euros), officials said a source familiar with the bank.

Technip: -3.67% to 57.77 euros

The French engineering group said it had received a letter of intent on the part of the American oil company Anadarko for the construction of an offshore platform for the Gulf of Mexico.

Towards a tax on "high income"

When in 2007 the Merkel government has created an additional income tax of 45%, Germany was against the current. At the time, it was time to lower taxes to encourage work. But the crisis and rising public deficits have changed everything. Germany has become more and more followers. In 2010, the UK has increased to 50% the rate of the highest portion of its income tax (IR). And Italy is preparing to introduce a solidarity tax for employees earning more than 90,000 euros.

More surprising number of taxpayers potentially affected by such a tax do not hesitate to ask now open! American side, the billionaire Warren Buffett has called this week for a contribution of "mégariches."In France, Maurice Levy, chief executive of Publicis Group and president of the Afep (French association of private companies), wrote in his name, an article in Le Monde, where he considered it "essential that the effort Solidarity begins with those whom fate has spared. " All indications are that it will be heard as the French government pledged last spring to introduce a tax on high incomes. "Today we are working on the issue of remuneration is said sometimes extravagant," reiterated on Wednesday on Europe 1, the budget minister, Valérie Pécresse.

The majority has already noted last year from 40% to 41% in the final tranche of IR. But this time it is hit with higher incomes (the final installment begins 71,000 euros in annual revenues). And this without creating a new rate of IR.While some lawmakers, like Senator Jean Arthuis centrist, still defend the idea, Nicolas Sarkozy is opposed to any new slice. Since the fall, the government has consistently rejected in Parliament every initiative of his majority to create a slice with 46% annual earnings per share in excess of 100,000 euros.

A million or 150,000 euros of income a year?

The Ministers of Economy and Budget has established a working group of parliamentarians who must propose measures in the fall, in the 2012 budget. The idea of ​​the executive, initially was rather taxing high incomes via the company by making non-deductible from corporate tax wages above a certain level. But the government now seems to favor a direct taxation at the household level, a solution advocated by many parliamentarians.Gilles Carrez, the UMP rapporteur of the budget in the Assembly proposes to introduce a contribution of 1% to 2% of annual revenues in excess of one million euros.

Advantage: All income is affected, including dividends and capital gains, not just wages (as with the non-deductibility). The threshold of 1 million French can target very easy – 30,000 homes would be affected. "The measure must be a symbol. This is not to bail out of the state, "said Jerome Chartier, UMP du Val-d'Oise. Indeed, 2%, the new tax would yield only 300 million (against $ 1 billion for the portion eg 46%). "Be careful not to pour into demagoguery and rich hunting. The contribution must be calibrated, "adds Philippe Marini, UMP rapporteur of the budget in the Senate.

Problem: all members do not see it that way.Pierre Mehaignerie, the UMP president of the Committee on Social Affairs in the Assembly hopes that the contribution applies from 150,000 to 200,000 euros in annual income for couples and 80,000 euros for a single. At this level, more than 300,000 homes were affected, including many executives. "I understand that. But our people are ready to make an effort if, at the same time, the state reform, "Pierre defends Méhaignerie. The animated discussions ahead in the majority!

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Fruits and vegetables producers' anger

Was rotten to the producers of French fruit and vegetables. Multiply these actions to raise awareness of the state of their precarious economic situation. Vegetable growers now call their members to "strike of public payments," inviting them to no longer pay their payroll and other taxes. "I did not revive the disastrous situation of 2009, laments Angelique Delahaye, president of vegetables in France. Treasuries of our 40,000 businesses are very tense, 10% to 15% risk of extinction. We invite them to put themselves insolvent employer contributions to the MSA, deadlines and other bank charges. We must keep what little cash we have left to pay our employees and our local suppliers, "she says.

The gardeners feel they have lost 20% to 40% of their turnover since the crisis of cucumber, late MayAfter the questioning of vegetables by the German authorities in the bacterium E. coli, there has been a surplus of vegetables in the European market. With, as a consequence, a collapse in prices. These never reached the levels of last year payday loans. First victim, the tomato, which is officially in economic crisis last week.

Finally, the bad weather came to tarnish the situation. "The winter vegetable pot-au-feu or those consumed in béchamel as cauliflower are selling well right now over their cost," says Angelique Delahaye.

Targeted actions

Fruit growers are hardly better off. They have the advantage of cross-over for the holiday challenge on the road. "Sos Fruits, Europe guilty, absent policies …" be able to read on the tolls or stickers on banners hung on the bridges of the A7."We sell our fisheries currently 30 cents below our cost, deplores Regis Aubenas, producer of peaches in the Drome, the cause of this action by the FDSEA. We call policies to regulate the market so that the Spanish leading provider of fisheries in Europe, stop the dumping by selling eg 35 cents per kilo in Hamburg at Lidl. "

The player is used by default in the articles of figaro.fr. Maj7

Wall Street still heavily lower

Concern persists on Wall Street. In early trade, the Dow Jones unscrewed from 2.06% to 11,008 points, the Nasdaq 3.10% to loose 2408 points and the S & P lost 2.74% to 1140 points. As in Europe, signs of nervousness are palpable. The volume of trade is still very well fleshed out and heightened volatility. "At this stage, investors dizzy," says Oliver Pursche, president of Gary Goldberg Financial Services.

On Wednesday, Greece again worried investors. The country plans to expand its exchange program to include obligations of the securities in the longer term, which penalizes first private creditors.

In addition, operators are even very concerned about the state of the U.S. economy. Yesterday, the world stock markets have overreacted, and positive against all odds, to about the Fed.This has indeed ensured that it would maintain its rates at a historical low, and until mid-2013 to support the economy. Its leaders also promised various stimulus, but without specifying its content. It will probably wait until his final release in late August. On the merits, however, the Fed has painted a disturbing report from the world's largest economy. Growth, pointing in particular the U.S. central bank, is growing at an annual rate of less than 1% in the first half, where the institution expected, earlier this year, more than 3%.

In contrast, oil prices were up sharply at the opening Wednesday in New York, in a market where investors were trying to regain footing after heavy losses, and pending the report of the stocks in the United States payday loans.On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for September delivery was trading at 81.20 dollars, up 2.40 dollars compared to the previous day.

Cisco News Corp expected

On the business side, Cisco (-1.68% to 13.82 dollars) will unveil its results later this evening the fourth quarter, along with News Corp (-5.36% to 13.77 dollars).

Disney (-12.72% to 30.29 dollars) falls after the media group has yet announced quarterly results better than expected thanks to strong advertising revenue on its cable networks.

The title of U.S. internet group AOL (-8.85% to 10.20 dollars) has lost over a quarter of its value on Tuesday at the New York Stock Exchange after the release of disappointing quarterly earnings and lower forecasts. The stock has dropped 25.75% against the current of a market up sharply.The action even reached 10.36 dollars during the session, the lowest price ever since the split with Time Warner in 2009.

Facebook on Tuesday launched a new application for mobile phones iPhone (Apple) and those equipped with the Android operating system (Google) to send messages to his "friends" on social networking, but also to other contacts. Called "Messenger", the application can send both text messages (SMS) and email.

Apple (-1.11% to 369.85 dollars) briefly delighted yesterday to ExxonMobil, its position as the first market capitalization.

The ECB tries to curb the contagion in the euro zone

The European Central Bank (ECB), despite her savior. The guardian of the euro is forced on Monday to intervene in markets to prevent contagion from the crisis of debt to two heavyweights in the euro area as are Spain and Italy. As she had said on Sunday, she started to redeem debt securities of these countries at the opening of stock exchanges in order to lower interest rates.

The effect of this action, has long been demanded by the markets was immediate. At 9:15, interest rates fell back to 10 years at 5.417% against 6.189% Friday. The cost of credit to ten years on the Spanish debt followed the same path, to 5.285% against 6.271% at the end of last week. The agents of the ECB "operations are 20 to 25 million euros over the entire market.We expect that interventions will reach one billion in the order of the day, "said one trader.

For now, the ECB does not need to intervene heavily to turn the trend. "The rates were very high last week, there was little trading volume. So when the ECB came into action, it does not take much to return to the market, "said Cyril Beuzit. "If this continues, the ECB would have to increase the volume of its purchases until the States of the euro take over, to the best end of September."

If the ECB has reluctantly restarted its buyback program, it is against the involvement of European capitals to accelerate the implementation of the reform adopted at the last summit in late July fast cash loans. Friday night, Rome decided to accelerate its austerity plan.The ECB have also sent a list of conditions to the Italian government to help him. Sunday, Paris and Berlin and had to reaffirm that States would take over from the ECB by the end of September. At that time, the new version of the European financial stability to intervene in the markets, should be passed by national parliaments. In the best case.

Divisions within the ECB?

"Certainly, the markets will test the will by then the ECB warns Cyril Beuzit. We think it may surprise by intervening massively, even if the tools are not cut out for that. "Still, the central bank is torn internally. Thursday, representatives of the Netherlands, Finland, Austria and Germany at the ECB executive board voted against any intervention in favor of Italy and Spain.

Sunday's decision has probably not been taken unanimously, advance Gilles Moec economist at Deutsche Bank: "It depends how far the opponents of the ECB are ready to go. If they are ready to submit their resignation in the balance, and only in this case, the lack of unanimity may be a problem. "Considered a risk, however small the economist.

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Obama gives assurance on Wall Street

The speech Barack Obama optimistic on economic prospects of the country begins to lighten the mood in the U.S. markets. The stock market indicators began to return gradually in the green, particularly reassured by the employment figures. At 18:50 Paris time, the Dow rose 0.89% to 11,485 points and the S & P gained 0.60% to 1207 points, the Nasdaq remains hesitant, remaining balance (0.02%) to 2256 points.

U.S. markets also appreciate the market rumors to the effect that the European Central Bank is ready to support the Italian and Spanish bonds, if these countries to undergo structural reforms.

The employment figures dictate trend

The announcement of a significant improvement in job creation last month seems to calm the situation on Wall Street Friday after a collapse in U.S. up over 4% yesterday.In recent weeks, disappointing publications on the state of the U.S. economy had, in fact, chained, challenging the idea of ​​resumption of the world's largest economy. This publication confirms the figures released Wednesday by ADP, reports of more new jobs than expected for the month of July.

At 21 hours the numbers of U.S. consumer credit for the month of June will end this week full of macroeconomic data.

Oil and euro pressure

Oil prices climbed hesitantly at the opening Friday in New York, despite the employment figures better than expected, as the market wondered if it would be sufficient to support the demand for crude in a very fragile economic environment .On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for September delivery was trading at 87.04 dollars, up 41 cents from the previous day.

This concern also weighs on the currency front, the euro was trying to rebound against the dollar but remained under pressure from macroeconomic concerns.To 15 hours in Paris, the European currency was worth 1.4224 dollars against 1.4106 dollars on Thursday night, after falling to 1.4055 dollars in early Asian trade, its lowest for three and a half weeks instant payday loan.

AIG, GM and Procter & Gamble publish their accounts

On the corporate side, the semi-annual publications still dominate the news on Friday.

Thursday evening after market, the insurer AIG (-0.23% to 26.34 dollars) announced a return to the green of its accounts in the second quarter, with net earnings of $ 1.84 billion over the period, against a loss of $ 2.7 billion a year earlier. Per share, net income totaled $ 1 ($ 0.69 after tax, against $ 0.92 expected by analysts).

At the same time, and its first quarterly since its IPO on May 19, LinkedIn (-2.27% to 93.36 dollars) was positively surprised markets by announcing a turnover more than doubled the second quarter to 121 million dollars (120 euros) and net profit (4.5 million), where analysts expected a loss.

GM Motors (1.27% to 26.32 dolars) Thursday reported quarterly results exceeded expectations, with a near doubling of profits over the period.

Procter & Gamble (1.78% to 60.64 dollars) released before market on Friday for the fourth quarter of fiscal offset, net income up 15% to $ 2.51 billion.Of 2010-2011, so it shows a net profit of 11.79 Annual Statement billion, down 7% from the previous year.

Viacom (3.55% to 53.17 dollars), the parent company of MTV and Comedy Central, has reported a rise than expected in earnings thanks to strong revenue growth in advertising Cable and license agreements with websites. Its quarterly results (Q3) increased to $ 574 million against 432 million

Bank of America (1.70% to 8.98 dollars) is highly exposed to the most fragile countries in the euro zone, according to a document from the bank. The group said exposure to the tune of $ 16.7 billion (11.8 billion euros) in total to Greece, Ireland, Italy, Portugal and Spain in June 30Management has indicated in a document submitted to the regulatory authorities that its losses could reach up to legal $ 2.3 billion in addition to the provisions already passed for this purpose.