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The Attali commission for the release of growth has reached an agreement after a final meeting which ended yesterday evening, and it expected to report in coming weeks, Les Echos said on Thursday. The Committee advocates and the realization of 75 billion euros in savings by 2013 to meet commitments to the European Commission to reduce the deficit to 3%, reports the Economic Daily.

Experts estimate that 50 billion would be earned in three years due to reduced spending, and another 25 billion euros through a reduction of tax and social niches where the Government seeks a saving of 10 billion.

In addition to reforming the tax loopholes, the committee recommends the establishment of exceptional measures, to achieve 10 billion in savings.The experts say, including the freezing of the index point for staff and expanding the principle of non-replacement of staff on two retiring to local and social security. Furthermore, control of expenditure in public service should enable savings to 40 billion.

Consolidation of the tax system in order

In addition, the committee "does not advocate new taxes or raising rates, but a broader base of social and tax," said one member to Les Echos. Renowned economists aimed at reducing tax loopholes, particularly those adverse to the environment or dependent statutes.

Half-word, the committee recommended the end of the tax shield: the collective effort that is taking shape, "the Committee would like the contribution of the most favored is not diminished by the tax shield," Les Echos said, citing a Participants at the meeting.

And if growth is less than 2% on average, economists have advocated the introduction of targeted tax increases. A revision of the tax system together with a lower labor cost is considered in the medium term.

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Many contracts of life insurance unclaimed recovered their beneficiaries. New features introduced in recent years have indeed enabled recipients who are unaware of contracts to recover some 555 million euros since 2006, according to a report that the economy minister, Christine Lagarde, s' prepares to submit to Parliament with Le Parisien and Aujourd'hui en France, reveals the contents on Thursday.

Since 2003, the government seeks to reduce the number of unclaimed contracts, estimated at over 150,000. In March 2009, a new measure has allowed insurers and bankers to verify in a national register if their customers were still alive.Since then, 26,000 dead have been identified, according to the report.

Another 1 billion euros in assets not redistributed

Insurers détiennnent however always more than one billion euros not distributed to beneficiaries of contracts unclaimed paperless payday loans. This amount, established by a survey of the French Federation of Insurance Companies (FFSA) cited in the report, is higher than the estimates of insurers (between 700 and 800 million euros).

A bill proposed by Senator Hervé Maurey, which will be considered by Members before the end of the year, provides for mandatory publication of contracts in unclaimed accounts of insurers. Supported by the Government, this could still contribute to limiting the amounts held by insurance companies to the detriment of beneficiaries.

Preferred placement of French, the market for life insurance grew by 8% since January 2010.

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Iliad welcomed on Tuesday for having "significantly improved its profitability" in a year. The parent company of ISP Free has indeed seen its net profit more than doubled in the first half of 2010 compared to the same period last year, its net income has reached 171.4 million euros (+138%) after the first six months of the year. The net result is partly boosted by an exceptional profit after tax of 39.9 million euros the statement said.

At the same time, its turnover has increased slightly, rising 4.6% over one year with the recruitment of 125,000 customers by brand Free, and despite the "negative base effect on the Alice brand given the loss of activities in wholesale and erosion of basic subscribers.

This increase is however enough to make him pass the symbolic billion euros in sales, it had never crossed until now. At the Paris Bourse, investors are satisfied with this publication. The Iliad as wins and 2.14%, to 70.99 euros, while the SBF 120 index, in which he withdraws rating of 1.42%. Iliad and carries the largest increase among the values of the SBF 120, and one of the largest increases of all the Parisian market.

The group should build on its good interim results.Thomas Reynaud, CFO of Iliad interviewed on BFM radio on Tuesday, has in fact stated that his group plans to unveil "very nice advertisements on ADSL by the end of 2010. Regarding the threat of a possible increase in VAT on offers "triple play" – which include television, internet and fixed telephony – the Iliad CFO declined to say whether the extra cost it would entail or not passed on the customer bill, but stressed that "after two taxes already established over the past two years, the increase in VAT would be a blow to digital activities."

End of restructuring costs for Alice

Iliad is pleased to be "one of the least indebted telecom operators in Europe with a debt ratio of 0.96 times at June 30, despite the acquisition of the mobile license for more than 240 million euros during the period.Gross debt Iliad reached 1.12 billion euros at the end of the first half.

The EBITDA of the group rebounded from 27.2% to 391.6 million euros at June 30, 2010, or 38.6% of turnover. The net operating income soared by almost 50% over the period, reaching 243.8 million euros. Iliad also emphasizes that no longer records of costs for the restructuring of Alice.

With its "excellent results for first quarter 2010, Iliad confirms its objectives. Operationally, it intends to continue growing its subscriber base to reach 5 million subscribers in early 2011, and indicate that, in the upcoming release of its mobile offering in 2012, it will cover 27% of the French population by the January 1, 2012.In financial terms, Iliad is a growing "double digit" of its EBITDA in 2010, and a "very strong increase in net profit in 2010

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Burst in full interim results conference's media group Lagardere. The upscale women's weekly group, Be, merged with rival Envy, edited by Marie Claire group. The information was soon confirmed by the two groups. The announcement should be made official Friday morning after a conference call with two editors. "The proposed merger of two weekly was presented yesterday to the works of two groups, we stated Thursday night from a reliable source.

This approximation Express is surprising. It is the newest upscale women's magazines, Be was launched with great fanfare and publicity to great fanfare last March 19 by Lagardère Active. Positioned as a "new global media brand" (based on a website, TV and radio), Be was unable to stabilize its sales.After a promising start when the title flirts with 230,000 copies sold (OJD, dissemination France paid) Be seen its circulation fall to 171,397 copies in late June Disappointing sales, however, have nothing catastrophic, especially as Lagardère Active has entrusted to bet on a "target distribution of 160,000 copies.

The day before the first anniversary of Grazia

For its part, Envy wipes the same side. Its circulation is over 240,000 copies in February, when launched, but quickly runs out of steam until barely exceed 160,000 copies (OJD) in June … For the group Marie Claire, this result is particularly disappointing . The group had much hesitation and refine its launch for many months before jumping into the water.To minimize risks, the group had even appealed last year to Jean-Paul Lubot, the designer of Closer magazine, the origin of this new segment of the fashion magazine combining fashion and celebrity news.

Today, the merger has any marriage of convenience between two groups who know each other well. Lagardère owns 42% stake in Marie Claire, a group whose participation chaired Arnaud Lagardere wants precisely to separate. Competitors as vendors release, Lagardere Active and Marie Claire have, it seems, have even more incentive to join together to confront the supremacy, particularly in terms of advertising revenue, the third competitor in this sector, weekly Grazia published by Mondadori France sells 179,704 copies (OJD). Irony of the calendar, Lagardere Active and Marie Claire agreed to before the first anniversary of Grazia.

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All for that. For 30 cents per share higher than what was proposed Hewlett-Packard, Dell acquires 3PAR. After proposing $ 1.15 billion to buy the U.S. company data storage, Dell has had to increase its offer. Rival Hewlett Packard had submitted a tender surprise on Monday of $ 1.6 billion, or $ 24 per share. Dell has offered 30 cents more per share.

Takeover bid for all shares 3PAR

If the transaction has yet to receive regulatory approval, the computer maker said in a statement, however it should be finalized before the end of the year. "It should have a positive impact on our earnings before exceptional items from the fiscal year 2012, the company said. Dell now has until Sept. 20 to launch a public offer to acquire all the shares of 3PAR "through a subsidiary that owns 100%," he says.

This acquisition will expand its range of storage products for the cloud computing (cloud computing via the Internet) and support its service activities payday advance low fees. "With the acquisition of 3PAR, Dell will have the range of storage products for the broader market," said Dave Johnson, vice president of U.S. computer company, said in the statement. Data storage is the priority of our strategy.

3PAR in the red, HP and Dell up

While its board had approved the deal, Hewlett-Packard has lost the fight on "cloud computing.Asked about the reasons for his choice, 3PAR did not wish to comment, stating that we communicate 3PAR "soon" on the subject.

Around 4:00 p.m., 3PAR lost 1.53% to 26.35 dollars, while Hewlett-Packard and Dell gained 0.42% respectively to 38.40% and 0.21 dollars to 11.81 dollars in a rising market 0.16%.

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Continue on the path to upward or follow the wisdom of U.S. and Asian markets? On Tuesday, the Paris Bourse might hesitate. Yesterday, the Cac 40 was able to stay the course despite the continued decline on Wall Street, finally closing with a gain of 0.77%. In New York, the Dow Jones, which had begun at equilibrium, has finally ended the day on a drop of 0.38%. The investors preferred to play the card of a wait before a series of indicators to be published this week. The earnings season is almost over, the ads focus all attention macroeconomic markets.

In Asia, investors were once again very hesitant, giving no clear signal to follow the Paris Bourse. Most markets are falling, a sign of fear of more and more strong to see the recession back on the front of the stage.

On Tuesday, the ball begins publication of indicators across the Atlantic with sales of existing homes. In Europe, markets will have knowledge of new orders in industry in June.

Values follow

Accor announced Monday the signing of a Memorandum of Understanding regarding the sale of walls 48 of its hotels in Europe for $ 367 million, Predica, insurance subsidiary of Credit Agricole and Land Walls, subsidiary of Land regions.

Danone acquired the company Immédia, number three French juice mixed fruit (smoothies), whose turnover is around four million euros, reports the Tribune.

The Ministry of Sustainable Development and Bercy warned on Monday evening Regulatory Commission of Energy (CRE) and the Higher Council of the energy of their intention to decline by 12% the purchase price by EDF of the photovoltaic electricity.

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Without biotech, no future for pharmacy? You might think so, judging by the proliferation of mergers and alliances between biotechs and large laboratories, those companies that manufacture drugs from living organisms. Last transaction date, redemption, announced Tuesday, the small American biotech Spoiler Therapeutics by Roche. The Swiss laboratory would cost initially $ 25 million to access the expertise of spoiler, an innovative technique allows the insertion of active ingredients targeted at the heart cells. If the results are inconclusive and that the products are finally sold, Roche may pay up to 1.1 billion dollars.

On Monday, the Swiss lab had already announced the purchase of another biotech, the California BioImagene for about 100 million dollars. And the other major labs are no exception.Sanofi-Aventis has announced the July 1 takeover of the U.S. biotech TargeGen. That's about the 25th agreement reached by the French laboratory with a biotech since arriving at his head Chris Viehbacher in December 2008. These alliances are not confined to Europe and the United States. Earlier this year, bioMérieux has acquired, for 10 to 15 million euros, a Chinese group, Meikang Biotech specializes in the manufacture of rapid tests.

"The major laboratories multiply this kind of agreement from two to three years to overcome a deficit increasing need for innovation in-house and access to proprietary technology platforms," said Vincent Genet, director of the activity of the firm Alcimed health."Smaller biotechs, in turn, can not afford to assume alone the costs of development of their drug candidates."

Progressive Funding

But it is rare that manufacturers take immediately all the risk. Most operations are based on incremental funding. Paid as and drug development, they can be supplemented by royalties on the commercialization of products.

These operations, which often have no impact on buyers for several years, have "nothing to do with mergers with large biopharma," says Vincent Genet. After the acquisition of Genentech by Roche last year for $ 47 billion, Sanofi-Aventis discussed today a merger with Genzyme. The operation seems to stumble on the price.According to the American press, Genzyme seeks in effect more than 18.4 billion dollars (14 billion euros) that Sanofi would have offered.

These mergers, which provide great laboratories of developing products and marketed drugs, may provide access to "a very different economic model," said Vincent Genet. This changes the perception of the laboratory, giving it a more focused biotech. This may also contribute favorably to income through sales made. A biotech can also expand the universe of which seizes lab. This is the case of the manufacturer of Botox, Allergan, valued near $ 20-billion. It would give the buyer access to the cosmetics market and emerging countries.

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The countdown has begun for the preparation of budget 2011. Everything must be completed within one month, Baroin to present the draft budget law (PLF) in the Council of Ministers in late September, a priori, 29. The expenditure side has already been adjudicated in July. On the menu: flat spending on no-load state pension and debt, elimination of 100,000 jobs in the public in three years and freezing of the index of civil servants in 2011. It remains to decide on the issue "revenue". It is the most politically sensitive because it touches on taxes. Brégançon Friday's meeting set the framework: the savings in tax and social niches will reach 10 billion euros. Previously, Baroin spoke of an effort from 8.5 to 10 billion. But the revision of 2.5% to 2% growth forecast for 2011 requires finding 3-3500000000 to hold the budget.Hence the decision to cut more in the niches. Bercy has also reap additional revenue in 2010, including 2 billion through the resumption of employment, as announced by the Minister to Le Figaro. What started 2011 on a better footing. Finally, the department does not rule to revise the margin some expenses. Baroin defends the crucial lines of force.

LE FIGARO. – Are you not preparing a tight budget?

Francis BAROIN. – When developing a budget, there must be serious and make sense. Our meeting last Friday about the president and prime minister had intended to make choices to reduce public spending in order to achieve the 6% deficit in late 2011. It is the cornerstone of our policy.Everything must work towards this goal: we have an obligation to return as quickly to deficit levels before the crisis. This is a critical issue for our economic growth. The debt and deficits are the major topics of concern of the French, and we must demonstrate our ability to reduce, which will restore their confidence in the future and encourage them to consume and invest in return.

Why have revised down growth for 2011, while the activity was better than expected in recent months?

Economic activity in the first half of 2010 was in line with our expectations, and we should finish the year with growth of 1.4% or even above. For 2011, we forecast a proactive and realistic.Aim for 2% growth, consistent with the OECD projection is proactive because it's better than 2010, but is also realistic because we must not forget that a recession ever went there and that all countries that have suffered will take time to erase the traces.

Are you worried about the credit ratings of France?

No. Over the past two years, it was vital to sustain economic activity by injecting public spending. The revival in France, was very well calculated, and I see that despite large deficits our country continues to borrow at historically low levels on the markets. This indicates that investors have confidence in us.They know we have great resources at our disposal such as a savings among the highest in Europe.

If growth is higher than expected this year, can we expect increased revenue for the State and Social Security?

The good news critical of the first term is the creation of 60,000 jobs. The recovery of the labor market is expected to generate about 2 billion of additional social security contributions. In mid-September, we'll do the exact point on this revenue to build the draft law on financing of Social Security in 2011 on a solid and sincere.

And for the state?

Tax revenues are in line with our expectations. This is particularly the case of corporation tax, which is a very positive signal. The crisis resulted in 2009 by a collapse of social security contributions and tax revenue. We go out.Any additional revenues from the economic forecasting will be fully allocated to deficit reduction.

Nicolas Sarkozy announced Friday a cut of 10 billion in tax shelters and social No fax needed payday loans. Is not that a tax increase in disguise?

Absolutely not. No one is forced to use a niche tax to reduce his tax: it is a personal decision. In contrast, a general increase in taxation would penalize everyone. There is no question of doing so. We will not increase taxes, whether VAT, income tax or corporation tax. It is a very political choice, which corresponds to the commitment made by Nicolas Sarkozy during the presidential campaign.To reduce deficits, we have decided to act primarily on the expenditure, including that which passes through structural reforms. In a country where public expenditure accounts for over half of national wealth, is where are the flexibilities consistent.

All the niches are not "chosen". Some tax cuts meet family responsibilities, to situations of handicap, disability, age. Will they be trimmed as well?

Similarly we have not touched the RSA and social minimum, the vulnerable population will be spared by the plane or the removal of niches. Family policy will also be preserved. But it is true that the reduction of niches is an exercise in subtle and difficult. Found 10 billion in savings over 75 billion tax and spending 45 billion on social niches represents a substantial effort.But necessary. For years, the niches have been the choice of the facility. Sometimes washed sand.

The movement of the plane there will be enough to keep your goal?

First, I note that we have actually a little less than 2 billion to find the niches. For decisions taken in the context of pension reform and the level of those to be on the Cades (Sinking Fund of the social debt) will yield a total of over 7 billion. And, of course, we will also with a plane that will reduce by 10% the tax advantage of a number of devices. But this is not the only tool used. Some niches will be deleted. Other tax cuts would be concentrated or have their revised calculation method. The idea is to share the effort between businesses and households.We make our decisions be final in mid-September.

Investors fear being heavily utilized. Are they right?

One of the successes of the French economy is the savings of its households. We will be very careful not to destabilize it. In general, we want to protect the purchasing power of the French.

How to pay off the debt that Social Security has widened during the crisis?

Along with bills of state finances and Social Security, this fall, I will defend an organic bill to Parliament which will define the terms of repayment of 35 billion debt to Social Security that we will transfer to Cades . This organic law proposes to extend the four-year life of Cades, which is currently scheduled for late 2021.We also will allocate 3.2 billion euros of additional resources each year to Cades to be learned from the reduction or elimination of certain niches. Finally, Cades benefit from the recovery of the pension reserve fund which it will draw some resources.

You will increase the margin tax on certain investments of life insurance or income from movable capital (bonds, shares …) to finance the Cades?

It is a trail to the study among others.

Some members of the majority will once again seek an increase in the DRES …

We expect this debate during the fall, which is legitimate.But by offering 10 billion euros in savings on tax and social niches, we will show members that we have the means to finance the Cades without having to raise the CRDS.

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Who would have thought that the month of August can be as active on financial markets. While transaction volume on the CAC 40 and other exchanges have not exploded the record, but the amount of mergers and acquisitions (M & A, Mergers and Acquisitions in English) announced it has atteintdepuis the beginning of almost 200 billion of which $ 197.6 billion exactly. Or $ 156 billion, according to statistics Thomson Reuters.

The week ending will, by the amount of announced deals, the most active in terms of M & A since November 2009, when Berkshire Hathaway group Warren Buffett, had agreed to buy the railroad company Burlington Northern Santa Fe

The most striking

Major operations this August are hostile bid of $ 39 billion BHP Billiton Canada Potash, the world fertilizer, the acquisition by Intel of anti-virus software specialist McAfee to $ 7.7 billion and the offer of five billion pounds of RSA Insurance Group on activities other than life insurance, Aviva, rejected by the latter.

Earlier this month, GDF Suez buckled its largest operation of its growth since the birth of the company, with International Power. Sanofi-Aventis may soon tackle the laboratory Genzyme.

After the publication of good interim results, the most solid companies still want to enjoy low valuations to lead consolidation in their sector.Businesses are regaining confidence to the signs of economic revival and treasuries have abundant in an environment where banks are increasingly willing to lend them money.

End of the crisis or simply a remission? At Toyota, caution is still required, despite strong quarterly results.

For the first quarter of its fiscal year from April to June, the Japanese sign its best operating profit in two years. Its net profit reached 190.4 billion yen (1.68 billion euros), against a loss of 77.8 billion yen a year earlier. Better yet, its sales rose nearly 30% over the same period, with 1.8 million vehicles sold.

The same manufacturer revises upward its sales target of cars for its fiscal year 2010/2011, now provides to sell 7.38 million vehicles worldwide against 7.29 previously. Toyota seems to recover from the dual crisis that has struck. Touched by other manufacturers as the financial crisis, he has not seen his image tarnished by the largest wave of reminders of its history.Since October, no fewer than 10 million vehicles were involved. Now, we remember, these reminders were not very well managed, including the United States.

Overseas, the quality reputation of Toyota has been seriously dented. The builder there been 300 lawsuits. It is not only pursued by victims – or relatives of victims – an accident, but also by Toyota owners who feel that the value of their car fell because of alleged defects. Nevertheless, in July, sales of the manufacturer grew 20% compared to June in the U.S., thanks to a major marketing campaign, and 30% worldwide. But its sales were lower (-3.2%) at July 2009, before the campaigns begin reminders."We will try to regain the trust of our customers as quickly as possible and continue our efforts to improve our sales," said Takahiko Ijichi, executive director of Toyota. The trauma is important enough that Toyota management continues to keep a low profile. She is revising upward its estimate of annual results while leaving it to Takahiko Ijichi to convey messages of caution for 2011.

End aid to purchase

"We emphasize the lack of visibility on the evolution of exchange rates and the possible collapse of demand in Japan after the end of programs of aid to the purchase of vehicles, Takahiko Ijichi said.We will continue our efforts to reduce our costs. "The Japanese government has planned to include the end of September off aid to the purchase of hybrid vehicles, which would directly affect sales of the Prius.

In addition, the recovery of the yen against other currencies decreases mechanically value of exports and thus impact its results. The group hopes to do no less an increase in the volume of its sales in Asia, South America and other emerging markets.

Note that Toyota is still far from the 9 million vehicles it sold worldwide, while he was busy to steal the number one position worldwide in its U.S. rival General Motors. At that time, nothing seemed to stop the ambitions of Toyota had set an annual sales target to 10 million cars.It was in 2008.

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