Banier: 710,000 euros per year L'Oreal

The case Bettencourt rebounds in the economic field. Le Monde said in its edition dated 31 July, the bonds that unite Francois-Marie Banier, this time not to Liliane Bettencourt directly, but to society that it is the first shareholder, L'Oreal. The newspaper said the cosmetics group had concluded in 2001 a "sponsorship agreement" and a "service contract" with society Héricy, founded in 1996 by Francois-Marie Banier. The friend of Liliane Bettencourt would receive each year and 710,000 euros per year under these two contracts, and until December 31, 2011. Income is slightly lower than, for example, the patron of Michelin, Michel Rollier.

The day of the signing of these agreements, whose existence was confirmed by lawyer Francois-Marie Banier, it would have sent a letter to the former CEO of L'Oreal, Lindsay Owen-Jones, making reference to payments "Dear Lindsay, It is with great emotion that I have just signed the contract that allows me to work even for ten years without the desire to please," wrote François-Marie Banier, already accused by Francoise Bettencourt Meyers, the daughter of Liliane Bettencourt, "abuse of weakness" on the person of his mother.

This time, it is the shareholders who turned against Francois-Marie Banier. According to Le Monde, citing the lawyer Frederik-Karel Canoy, a sixty shareholders have decided to join the approach of Michel Tiphineau, a retiree who has already filed complaints against Francois-Marie Banier 5 July last for abuse of corporate assets .The Paris prosecutors opened a preliminary inquiry, which has been entrusted to police the financial police.

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Fraud against European subsidies is well

Fraud increases but is a good sign. This is the ironic conclusion drawn Wednesday by the European Commission in a report dedicated to the illegal use of EU funds.

According to Brussels, the increase in cases of mismanagement is not due to the proliferation of financial crimes in Europe, but better tracking by member states for fraud.

You'd think they were particularly pugnacious this year. Three times as many cases of suspected fraud were detected in the use of agricultural subsidies and twice more for regional grants from 2008. The sums involved amounted respectively to 13.3 million euros and 109 million euros.

Same trend towards aid allocated to countries applying for accession, including the amount of suspected fraud increased from 13 to 57 million euros in 2009.Bulgaria alone has 92% of suspected fraud in the management of a fund dedicated to the modernization of its agriculture. Anomalies in the invoices or purchase orders, payments in cash, big difference between the estimated price of an investment and actual cost … a body of evidence exists to detect the rogue actions.

France, a very good or very bad student?

France is characterized by a number of suspicions of fraud very low. The country has seen 20% of farm subsidies between 2006 and 2009 – which is considerable – but reported only 11 cases of alleged fraud, against 25 for its Belgian neighbor that affects a much leaner about 0.3% of agricultural budget over the same period.

Again, the result can be interpreted in two ways: either France demonstrated exemplary management, or it does not endeavor to transfer cases at issue in Brussels No fax pay day loans. Last summer, Le Parisien had raised such a hare revealing hundreds of millions of euros of aid unduly paid to producers of fruits and vegetables.

France declares little fraud as it says little irregularities. In the latter case, there is no real desire to harm (omission of an invoice for example). In 2009, the country has reported that 127 irregularities in Brussels on agricultural subsidies, which is four times less than Spain.

"We have no evidence but the fact is that France is still reporting a low number of defects in comparison with other member states.The European Commission and the Agency for Combating Fraud Office (OLAF is a kind of European financial police, ed), does not conduct audits in Member States. We must therefore assume that their reporting is accurate and reliable, "says one side of the European Commission.

Despite these shortcomings, the work of Olaf has identified some emblematic fraud. A company based in Luxembourg is ordered to reimburse for example 2 million euros of EU funds have placed in an account offshore instead of investing in the recruitment of a hundred people. In late June, a Bulgarian was sentenced to 12 years in prison for falsifying invoices: he pretended to buy new machines for receiving EU aid. The machines were actually purchased used, which enabled it to illegally gather 7.5 million euros.

Salaries most dynamic in Germany, France

The basic monthly salary was "slightly more active in Germany than in France in 2009, amid slowing earnings in both countries related to a labor market deteriorated and a virtual stagnation in prices, according to a study published Monday by the INSEE. In the non-agricultural market sector, the basic monthly wage increased an annual average of 2.2% in France and 2.7% in Germany (excluding inflation), a rate lower than in 2008 (three % in both countries).

"This slowdown is due to the deterioration of the labor market in 2009 and the near stagnation of prices, which have dampened wage bargaining in both countries," according to INSEE, using statistics French and German.Illustration of this slowdown, the increase in the minimum wage was 1.3% on 1 July 2009 in France, against 3% on average in 2008, notes the National Institute of Statistics and studies économiques.En Germany, reductions number of hours of work and temporary suspension of increase weighed on earnings, but the slowdown of the basic wage was only 0.3 percentage points in 2009 compared to 2008.

Since the wage agreements are multi-annual index-some grids had indeed been negotiated before the economic crisis.The new agreed increases in the second half of 2009, however, were "much smaller" than previous years and there were very few new wage agreements during this period, noted INSEE.

Virtually zero inflation in 2009

Taking into account inflation, "virtually zero in 2009 in the two countries' basic pay has" increased significantly "on both sides of the Rhine, but again more in Germany (+2.5% after +0.2% in 2008) and France (+2.1%, after -0.2% in 2008).

This comparison between wages in France and Germany came as the country was criticized by some of its partners, including France, to encourage low wages to enhance its competitiveness at the expense of its neighbors.

Germany argues that governments have no influence on the evolution of salaries – there is no general minimum wage in Germany – and has no intention to curb the competitiveness of its companies.

BP urges advisers to avoid bankruptcy or a hostile takeover

BP is doing no more alone. To manage the most serious environmental disaster and to silence rumors about a possible bankruptcy, the tanker has hired advisers. BP to help meet the financial pressures, more and more strong.

The recent plunge in BP, which has further declined by nearly 10% Monday as London qu'ç New York and whose market value has been reduced by over 45% since the beginning of the accident, certifies that the hypothesis of a bankruptcy is not completely ruled out by investors. Thus, counselors will work to optimize the management of the crisis and to prevent compensation claims do not leak the multinational or make vulnerable, thus creating a hostile takeover. The trio of investors and put together a strategy to enable the group to meet claims over the next five years.

But for now, BP does not confirm this information. A spokesman for the group merely stated: "This is not true, we do not appeal to banks to defend ourselves," adding "we urge banks year round for different reasons.

Senators call 20000000000

The information is then revealed, however, that the U.S. government is more determined than ever to pay the oil company. of compensation for victims of oil pollution and environmental damage and business. It looks particularly dire consequences for fisheries and tourism in the Gulf of Mexico, in a letter to the director of BP in the United States.

International Help

A little more reassuring to the disaster called the "ecological / 11" by Barack Obama, Washington can count on the solidarity internationale.pour cope with the spill. Countries like France, the United Kingdom, Mexico, but also the United Arab Emirates and Vietnam have offered assistance in the form of equipment and expertise.

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The Mercedes star to shine again

"We're back on track", says Joachim Schmidt, director of sales and marketing of Mercedes. In the first five months of the year, sales of the brand with the star rose by 15.8% (443,400 cars) thanks to the success of its S-Class sedans and E. Faster progress than his fellow BMW (+14.1%), which remains the leading high-end segment.

The fact that Audi volumes (+ 21.7%), third in 2009, have exceeded those of the Mercedes in January-May (since it had not Smart) does not seem to affect the group in Stuttgart. "We are not trying to make the race with Audi volumes. What is important is to have the best margins, "says Le Figaro Joachim Schmidt.

After a bad year when she accused an operating deficit of 500 million euros, the car division of Daimler posted a profit of 806 million euros in the first quarter.Representing an operating margin of 7%, which could still grow in the second quarter. Audi is better (5.8% margin) and the BMW automobile industry (2.7%) on the first three months of 2010. Over the year, Mercedes is an operating profit of 2.5 to 3 billion.

To continue to accelerate, Mercedes intends to grow its "greatest asset": the strength of its brand. The manufacturer is launching a global communications campaign, which begins in France in late June, around the slogan "best or nothing," referring to its ambitions in terms of quality, style or safety. Mercedes had no motto since 2005.

Renault cooperation

It's probably in China, Eldorado for luxury cars and the first outlet of the class E, the prestige of the brand is the highest. Mercedes sales have more than doubled since January."We should exceed 100,000 units this year. And in 2015 sales goal is 300,000, which would make this country, currently our third largest market, the first, "said Joachim Schmidt.

In Europe, the German, who, like his rivals, has received almost no premium for scrap in 2009, provides volumes "stable" this year in an overall market decline. It has expand its offerings of smaller cars by launching four new models of Class A and B by 2013. Half of the corresponding volumes will be manufactured in the factory being built in Hungary.

Only downside, sales of the little Smart ball group, continue to decline (- 17.8% through May). Mercedes is counting on cooperation with Renault to make it profitable through "economies of scale," the next generation of this model to be developed on the same platform as the Twingo.

Europe is ready to provide emergency aid to Greece

Pressed by the markets which seem to question the reality of the support plan for Greece, the central bankers in the euro zone agreed Friday on the financial terms of emergency loans to Athens. "An agreement has been reached" at a meeting of experts in Brussels, assured on Friday, several European sources. It can be triggered at any time if Greece requests.

The compromise is the price of bilateral loans that are granted by governments and the IMF to Greece under the rescue plan. "For loans up to three years, the rate of special drawing rights (SDR) plus 300 basis points plus 50 basis points of service charge," added the sources said.

Under discussion for ten days, the interest rate is a crucial point of the plan, anxiously awaited by investors.Germany insisted that loans be granted to Greece "no subsidy" that is to say, the market price, while France and Italy were ready to make a flower in Greece.

Berlin was right partners, obtaining successful even in the smallest details. "A premium of 350 basis points above the SDR rate – the benchmark for the IMF – is the average for the market this week," said Dominique Barbet, head of market research at BNP Paribas. "For a country of the euro area is very expensive," he adds. "But at least Greece is attached to his fate," said the economist.

What interest could she Greece to seek EU aid, if the price of loans is not less than the market? "In the markets, lenders are not obliged to pay, even if the price is attractive: it is all the difference," said Dominique Barbet.If Greece asks EU aid, she knows she will obtain a price fixed in advance, which will never be below the market price, because the latter will naturally.

Spectrum of banking crisis

For now, Athens has not seen fit to seek the help of the euro area and the IMF, even if the markets will grow, calling for a rate of 7% for loans to ten years, or surcharge of 4% compared to Germany.

Although the markets have calmed down a bit Friday, Greece is at the foot of the wall. It may not only failure refinancing at its next bond issue, but also a banking crisis. Fearing bankruptcy, the Greeks have already withdrawn 10 billion euros of deposits and place them in foreign banks.

On Friday, ratings agency Fitch lowered the debt by two notches to BBB-Greece, citing "budgetary challenges" growing."The sharp rise in interest rates will make it harder for the government to achieve its goal of reducing the budget deficit to 8.7% this year," says the rating agency. Fitch is particularly heard it was the first to degrade Greece December 8, 2009, giving the signal for the Greek financial crisis.

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Novelli defends autoentrepreneurs

The attacks are increasing in recent weeks against the status freelancer who has since 1 January 2009 400 000 French to have a second income and easily create their own business. The unemployed who start their company, may also adopt this status.

The president of the National Insurance retirement professionals have been accused of threatening the financial stability of pension professionals. The CGT denounced examples of undocumented workers forced to adopt the status of self-contractor.

Building professionals and artisans in turn accused them of practicing unfair competition. "The autoentrepreneurs who make no sales for a year and no declaration shall lose their status.The others must be forced to create a company after the second year, "Patrick said Thursday Li?bus, president of the Confederation of Crafts and Small Business Building (Capeb). He welcomed the approach of Senator Jean Arthuis (Centrist Union), chairman of the Senate Finance Committee, author of an amendment to regulate the status of self-contractor.This text was discussed Thursday in the Senate proposed under the consideration of the bill on the sole proprietor limited liability already voted by the deputies.

Can change status

Herv? Novelli, Secretary of State for Trade, Crafts and SMEs, has vigorously fought the amendment, which requires self-contractors to make a "statement of work" regardless of the amount of turnover and wants to "limit to three years the benefit of this scheme for the micro-specific self-contractors who work primarily.

Determined to "put an end once and for all the untruths," it quoted a study of the Order of Accountants demonstrating that self-pay business expenses that substantially all of the other individual entrepreneurs.A trader on the internet that makes 69 000 euros annual turnover of EUR 8 966 payroll taxes if it adopts the status of self-contractor and 9 010 euros if he selects the micro-enterprise. "If there is competition, it is simply a competition simplicity. If there is a battle to be fought, it is that the extension of the simple system of self-contractor to the 1.5 million individual entrepreneurs, "he said.

Fran?ois Hurel, President of the Union of self-entrepreneurs, and Maria Nowak, President of Adie, support it. They have launched a petition against the amendment championed by Jean Arthuis. "Do not complicate a reform which shows that it works because it is simple, says Fran?ois Hurel. Do not create doubt.We must instead accompany self-entrepreneurs to enable them to change their status or plan if they wish. "

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Greek debt riskier than ever

More bad news for Greece, amid soaring interest rates. The rating agency Fitch Ratings downgraded Friday by two notches note long-term debt Greek, from BBB + to BBB-. The new note carries a negative outlook.

"The lowering of the rating reflects the intensification of fiscal challenge, caused by poor economic forecasts and a higher cost of debt," Fitch justified. Interest rates on debt Greek surged beyond the 7.5% Thursday in a volatile market but very few shares traded flexcheck cash advance. The markets are testing the limits of patience of the Greek government and wants to know he will decide to use the European rescue plan.

The increasing volatility on the Greek government bond market also forces many investors to withdraw.

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Atos considering a major acquisition of the Channel

A year after his arrival at the head of Atos Origin, Thierry Breton is considering a huge blow. According to several sources, the computer services company is studying the possible French takeover of RBS WorldPay, a giant global means of payment for sale by its owner, Royal Bank of Scotland. The British bank, quasi-nationalized, is forced by Brussels to give a few nuggets for the price of his support.

While an indicative tender submission is expected April 7, Atos mandated, according to our information, investment banks Morgan Stanley and BNP Paribas. This is a major operation that would transform the profile of Atos Origin: RBS WorldPay would, according to some estimates, nearly 2 billion to 2.5 billion euros, when the French weighs 2.6 billion euros Stock Exchange. But such an acquisition would allow it to lead the world in a particularly lucrative.Note, also, Atos and RBS WorldPay is familiar with and have discussed in past agreements outsourcing.

Thierry Breton has declined comment. It merely recall the three criteria based on which Atos generally to measure interest in a possible acquisition: "We study asset quality. We wonder what synergies can be achieved and if we have the financial capacity to carry out the operation. "Applying the grid reading of the former Minister of Economy, the first two requirements seem satisfied. Atos Origin is already a major European player in the business of electronic payments make quick cash .His division Atos Worldline is highlighted by managers as a key growth engines of the group.

Attractive margins

Last February, Thierry Breton had also said that the goal was to double the turnover of this activity by 2013! The reason is simple: the business of electronic transactions liberates operating margin of nearly 15%, whereas it was only 5.7% for the whole group in 2009.

There remains the question of price. Although SSII has restructured its cash and reduced its debt to 139 million euros in 2009, the UK seems like a big piece to swallow. Especially since the competition will be fierce.RBS has already boasted of a long list of candidates interested in this tender orchestrated by the Swiss investment bank UBS is spoken at this stage of forty contenders! The sale of RBS WorldPay promises to attract, in particular the ban and arriere ban of the investment fund KKR to Apax Partners, attracted by the good visibility of cash flow activity. However, unlike financial investors, Atos account synergies consistent with its existing business and, therefore, may potentially justify a higher price.

But before that happened, Thierry Breton will convince its board of directors and, especially, the fund PAI, its principal shareholder. With 23% stake in Atos, investors led by Lionel Zinsou has the ability to block the project. Or help. Good news at least for Atos, the financing market has reopened.

Dubai wants to extend the maturity of its debt

For the first time since the announcement of the moratorium on its debt, which had rocked markets last November, Dubai World this week should initiate discussions with its creditors. Discreetly. According to the Financial Times quoted sources close to the negotiations, the conglomerate duba?ote must submit to its main banks with a proposal to reschedule $ 22 billion of debt.

A spokesman for the Emirate of Dubai, questioned by AFP would not confirm the information daily from the City. This is a "confidential process," he has merely said, adding that "a formal proposal will be presented by Dubai World to creditors in March.

Dubai World could offer, understands the Financial Times, two alternatives to its creditors. Either the banks want to be repaid over several years, but cover the full amount owed.Either they agree to reschedule the debt over the longer term, with the state guarantee, not losing a penny. Still, "according to sources familiar with the matter, nothing is certain" shade the Financial Times.

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