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Rio Tinto, a provider of medals at London Olympics

Friday, April 22nd, 2011

Rio Tinto will be behind every Olympic medal at the upcoming London Olympics 2012. The Anglo-Australian mining giant has indeed been chosen by the International Olympic Committee to be the official supplier of metals used to manufacture them. In total, Rio Tinto will provide all the gold, silver and copper for the production of the 4700 Olympic Games medals (OJ) and Paralympic Games.

On a specific page on its website, the group says that the mines from which metals are extracted will be located "at opposite sides of the globe." This is actually mine Bingham Canyon, United States, and that of Oyu Tolgoi, Mongolia. The making of medals will be given to the prestigious British Royal Mint.

The group will not be his first time since he was chosen in 2002 for the Winter Olympics in Salt Lake City.In 2008 in Beijing, was his rival BHP Billiton's history who had played the role of official supplier of the committee.

Sponsor

For now, design and composition of the medals are still being studied, and the details should be finalized later this year. But the official recommendations of the IOC should not be very different from those issued to Beijing in 2008. 3 years ago, the Committee wishes such as for individual events, the gold is composed of at least 92.5% silver and 6 grams of pure gold. The silver medal was also to be composed of 92.5% pure silver. The three medals were to be 60 millimeters in diameter and 3 millimeters thick.

Rio Tinto could be asked to provide similar amounts of 9 kilos of gold, 9 silver and 4 tons of tons of copper.Olympic Winter Vancouvert 2010, the mining group, Teck had medals for 1000, delivered 2.05 kilograms of gold, 1950 kilograms of silver and 903 kilograms of copper.

At current prices, this represents almost 300,000 euros gold, some 30,000 euros copper and nearly 9 million of money. "They become sponsors. For them, the benefits in terms of image will be even more important, "says Patrick Schein, owner of Gold by Gold, an expert on gold.

No "golden fair in London

Like his colleagues in the Alliance for Responsible Mining (AMR), the owner of Gold by Gold also regrets that the Committee has preferred to entrust the entire supply of gold in giant Rio Tinto. With laFairtrade Labelling Organizations International (FLO), AMR defends indeed a fair gold label which "offers precious metal quality and respectful human social values."But "Rio Tinto is one of those big mining predators for a kilo of gold are 60% margin and pay 2% royalty to the State. They say they respect the principles of sustainable development but it is an image that they give themselves to be accepted by states and pension funds, "Patrick Schein annoyed.

FLO, which had contacted the Committee, had hoped that at least part of the gold medals are labeled, especially since the label, called Fairtrade & Fairmined, was officially launched in Britain in February . "It is the committee's choice. It is understandable because they have a budget to buckle. We may also launched the label too late for them. But they could play the game, "lamented Patrick Schein. Advocates of fair gold does not intend to stop there, however: "It may be next time.A major sporting event is an incredible opportunity for gold to shine just before more than 3 billion viewers. A great champion pulling a coin would symbolically labeled hard! One day we will get there, "says the boss of Gold by Gold.

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Brazil Embraer sells 35 planes to China

Tuesday, April 12th, 2011

These are two engines of global growth are meeting this week in China. The president of Brazil Dilma Rousseff meeting today with his Chinese counterpart Hu Jintao in Beijing.

Hours before the arrival of the Brazilian president, business partnerships already announced. Chinese airlines have ordered 35 aircraft and Embraer E190. This order is valued at 1.4 billion dollars, since each device costs $ 40 million at list prices. Of the total number of aircraft ordered, twenty are for China Southern Airlines and fifteen join Hebei, a small regional airline.

The contract was signed by Ministers of Industry of both countries during the visit of Dilma Rousseff. China has also expressed its intention to invest ten billion dollars in soybean production in Brazil.Beijing is the largest importer in the world.

Out a role of mere suppliers

In post for just over three months, Dilma Rousseff hopes to strengthen trade ties between the two emerging powers. Brazilia seeks out a relationship of mere supplier of raw materials for Beijing, while "Made in China" products flooding the Brazilian market.According to the China Business News, the Brazilian head of state has already expressed its intention to propel Brazil to the rank of major trading partner of China.

During his five-day visit, Dilma Rousseff must also attend a summit BRICS (Brazil, Russia, India, China and South Africa) to be held in the south on the island of Hainan.

Moreover, the "BRIC", the four large countries 'emerging' economic boom: Brazil, Russia, India and China are expected to occur this weekend, April 14, to développerleurs trade.

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Lagardere sells at high prices to its Hearst Magazines International

Monday, January 31st, 2011

In a forced march. Less than a month after announcing the opening of exclusive negotiations with U.S. publisher Hearst, Lagardère has completed the sale transaction of its global news division.

According to our information, the operation reached a total value of 720 million euros, 650 million in cash and 8 million a year in royalties under the license for Elle magazine. What credit the women's magazine with a net present value of at least 70 million euros.

Lagardere, which has a framework agreement for this purpose in several countries, will retain ownership of the brand, merchandising and will have a say on the editorial line.

If Lagardère now refocuses on France, it protects the passage of one of its most beautiful asset in the national territory through a licensing agreement with a purchaser Hearst.Finally, Lagardere keeps 30 million euros of real estate that he intends to sell later. The scope of the operation on 102 newspaper titles in 15 countries. Neither Hearst nor Lagardère were willing to comment on the Sunday operation.

This sale is expected to positively surprise the market. Aware of the nuggets of the group as the 42 versions of Elle magazine and the 12 international versions of Psychology, the latter assumed an amount exceeding 500 million euros, but its high estimate never exceeded 700 million. Is roughly the turnover of the international press center, which has 5,000 employees and 58% of the total turnover of the entire magazine division of Lagardère. The latter amounting to 1.270 billion euros.

Leader

Finally, the United States, Lagardère is also the publisher of prestigious brands such as Car & Driver (1.3 million copies) and Woman's Day (3.8 million). What have raised the stakes throughout the negotiations.

This operation will therefore allow the French group company debt in late 2011 and get him out of an industry where it considers no longer have the critical mass to compete favorably and restructure. In 2009, the victim of a sharp downturn in advertising, more marked than in France International, the group had already sold five U.S. specialty magazines (Popular Photography, Flying, Boating …) to the publisher Bonnier. He had also arrested a half-dozen magazines in the world.

For his part, Hearst consolidates its leading position in the magazine not only on its home market but also globally.The latter has a total turnover of $ 4 billion and employs approximately 20,000 people worldwide. He holds a dozen magazines like Harper's Bazaar – the biggest competitor of Elle – Cosmopolitan, Esquire, Country Living with nearly 200 international versions. If the strategy is clear to the American group, Lagardère will now have to convince his own. Last week, he emphasized his desire to concentrate on its subsidiary Sports Unlimited.

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Unscrews the Exchange in Egypt

Thursday, January 27th, 2011

Panic seized the Egyptian stock market. On Thursday, the exchanges were temporarily suspended in mid-morning while the EGX 30, the benchmark index of the Cairo Stock Exchange, dropping 6.2% after only 15 minutes of trade. The recovery occurred about 10:30 before the break but was not enough to calm the spirits. About 11 hours, the EGX 30 tumbled 9.93% to 5728.49 points. Its lowest level since October 2008.

All values are in the red, including two rated heavyweights, Orascom Construction, which Lafarge owns 100% of the branch Orascom and Telecom Egypt, a public company. The first company dropped 8.14% while the latter lost 7.55%. The telecommunications sector as a whole is heavily contested, as evidenced by the fall of Egyptian Company for Mobile Services (-9.84%) and Orsacom Telecom (-6.67%).The banks, led by Commercial International Bank (-4.68%), are not spared.

No appeasement

This downward movement in a context of popular protest. On Thursday, the police were massively present in the center of Cairo to face a third day of demonstrations which called the "Movement of April 6, a youth organization for democracy, the origin of these rallies, inspired by Tunisian revolt ousted President Zine El Abidine Ben Ali no fax payday loans. These protests have already been six deaths.

Yesterday, the trading day ended with a 6% drop in the index EGX, operators are concerned about the events that followed. In a failed attempt to calm, head of the Egyptian Stock Exchange has called on investors to remain calm.There, he said, no reason to suspend trade in a sustainable manner, as is the case for Tunis Stock Exchange. "Nobody comes to buy, everything is at its lowest," says Omar Darwish, however, an analyst at CIBC.

The authorities prefer to take their time before deciding on a possible closure of the markets. The message sent by a sustained suspension of trading of the Cairo Stock Exchange is indeed fraught with political meaning. The Egyptian Stock Exchange with Morocco is one of the most important financial centers in the Maghreb with $ 79 billion capitalization.

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The flight of Ben Ali and the return of business

Thursday, January 20th, 2011

The clans of the former President Ben Ali and his wife Leila Trabelsi held an iron grip until the end the economy of Tunisia. Their flight is expected to give greater freedom to business leaders who feared like the plague "Family," as they called him the power, referring to films about the Mafia.

"The president's extended family is often presented as the hub of corruption in Tunisia," wrote an American diplomat in a memo published by Wikileaks and the World. "Expropriation", "extortion of bribes, kickbacks," the official lists the cases of blatant abuse of power in a note dated June 2008 and entitled "What's yours is mine."

The voracity of Trabelsi

"These people were present in many areas, they decreased the profits of companies and therefore reduces the ability of them to invest," says Jean-Raphael Chaponnière, an economist at the French Agency for Development (AFD). Less investment means less growth and less employment.

To escape the voracity of Ben Ali and Trabelsi, contractors had adopted a motto, "stay small," says Beatrice Hibou, an economist at CERI-Sciences Po "Business leaders said they fear to invest and grow . If true, then the departure of the clans should lead to a resumption of investment, "adds the researcher.

Arbitrary taxation

After 24 years of rule by Ben Ali, Tunisia is characterized "by the extremely small number of large (0.4% of total business) and even medium-sized enterprises (0.3% or 1.7%), falls Beatrice Hibou payday loans no teletrack. Even the "largest groups Tunisian Poulina, is actually a conglomerate of 71 subsidiaries for 6000 employees only."

The power was not content to plunder. He also used the IRS to acknowledge or punish. "Taxes were collected in a very arbitrary: if you were not in the odor of sanctity in Carthage, you wipe a tax adjustment, if you were a friend, you do not pay taxes," notes Ali and Mohamed Marouani economist at the University of Paris 1 Panthéon-Sorbonne.

Foreign companies did not escape the rule: "Everyone went to the checkout!" Denounces a former Minister Ben Ali's predecessor, Habib Bourguiba, and "voluntary exile" in Paris. "The power is used without restraint, it is even what killed the plan," said Catherine Graciet, author of a survey on women of Ben Ali, Leila (The Regent of Carthage).

'Uncertain times'

Not sure the disappearance of the quasi-mafia allows a dramatic rebound in investment. "With the hectic events of democracy, we are entering uncertain times not conducive to investments," warns Jean-Raphael Chaponnière, an economist at the French Agency for Development (AFD). The rating agency Moody's has also degraded the country note on Wednesday.Corruption, according to many observers, should survive the dictatorship, albeit on a smaller scale.

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United States: the Fed sees signs of improvement

Thursday, January 13th, 2011

The U.S. central bank (Fed) is more optimistic than usual. In its Beige Book, released Wednesday, she believes that U.S. economic growth has been stronger in recent weeks of 2010. "Economic activity continued to show moderate growth from November to December," she says. At the end of the year the economy grew in all regions of the country, the statement added.

The manufacturing sector, in particular, has taken over the whole territory, according to the report, made on the basis of information supplied by the twelve regional branches of the Federal Reserve. Retail sales in the holiday season in 2010 appeared higher than in 2009 and "in some cases higher than expected."

The situation of the banking sector is more mixed across regions, having recorded some increase in loan applications stronger than others.

Real estate remains worrying

The Fed does not, however, falls in the euphoria. Most of the leaders' positive views on the future "but remain" prudent " payday loans with no fax. The main concern remains the housing market, which remains "low" throughout the country. Moreover, GDP in the third quarter of 2010, which grew by 2.6%, ahead at a rate too low to consistently lower the unemployment rate, currently at 9.4%. Ben Bernanke was also explained to members of Congress last Friday, it would take "four to five years" to see the unemployment rate back to its normal level, around 6%.

However, leaders of the Central Bank do not despair.They note that "the labor market appears to have strengthened somewhat in most areas." On Wall Street, investors appreciate this latest news without euphoria, however: the Dow Jones climbed 0.76% to 11,763 points just after the announcements.

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Retirement: the redemption of years of study less costly in January

Monday, December 27th, 2010

Collateral effect of pension reform, the redemption of years of study should become a little cheaper after the first days of January. By a simple mechanical effect, delaying the age of retirement in effect alters the rates applicable by the national pension insurance (CNAV). Calculated to be financially neutral to the fund, the cost of buying years of study increases with the age of future retirees. Today, the price of a quarter is eg 2089 euros for a 20-year and 6332 euros for a sexagenarian. By pushing two-year legal age of retirement, the reform leads to lower this cost by about 5%. The price of a quarter goes to 1981 euros when you're 20 years old, and 6028 euros when it was 60 years.

Came into force on 1 January 2004 this will increase the level of his pension by purchasing one or more quarters of an incomplete year, the limit of twelve. It is particularly interesting for future retirees that can trigger additional pension rights and tax concessions that reduce the cost of the operation. Since the supplementary part of retirement is even higher than the salary is large, the opportunity to use the device increases with income level easy pay day loans. In 76% cases, buyers said, and higher income ceiling for Social Security (2885 euros per month in 2010). In 2010, an insured person spent an average of 24,552 euros for the purchase of its missing quarters, mostly due to an approaching retirement.

Overall, "we can not say there was a strong passion for this opportunity since 2004," says Vincent, however Bin, Director of Statistics and prospective CNAV. In seven years, only 29,350 people have benefited from this device essentially attractive for high incomes.

If you want to measure the impact of such redemption on your individual situation, CNAV provides insured information on its website that calculates the value of each transaction, depending on their age and income. Not sure, therefore, that the scheduled decrease in the cost of a quarter does CNAV generates a large influx of additional applications.

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Free refuses to pay tax on his new box

Wednesday, December 22nd, 2010

Freebox Revolution continues to make waves. But in the culture industry, this time. Concerned, the refusal of the operator to perform now the tax on private copying, which the "boxes" are normally subject. "Free to pay. Otherwise it will end in court, threatened on Wednesday morning in Les Echos, the director of the Civil Society of Phonographic Producers (SCPP), Marc Guez.

The private copying levy is a system of financing income (182 million euros in 2009) are paid to the areas of music and audiovisual sectors, hit by downloading pirate. It was first applied to blank CDs, and was extended to a wide variety of products which can be copied legal works, such as iPods, USB sticks, and recently the shelves. The "box" operators, equipped with a hard drive, did not escape.Including previous Freebox.

With its impressive 250 GB hard drive, the newest member of the Free should have been taxed at 35 euros, more than 10% of the cost of its production cost, estimated at 300 euros. But according to the operator, the Freebox Revolution is not a "box" like the others. Its hard drive is a standalone file server, a NAS. However, such material is exempt from tax, when certified to "work together with at least three operating systems (see pdf).

"We respect the texts"

This exception was introduced in October, was intended to tax only the NAS models purchased by individuals, simpler, saving professionals. But Free has had time to adapt to these new rules. According to the operator, the Freebox works well with at least three operating systems, and should not be taxed."We continue of course to respect the statutes governing private copying," says Maxime Lombardini at Les Echos, CEO of Iliad, the parent of Free.

For Free, the economy would be $ 17.5 million for 500,000 Freebox Revolution. Its competitors, who have not integrated file server in their "box", can not imitate him. They had to use cunning. To limit the size of the tax, SFR voluntarily restrained the hard drive of his new Neufbox Evolution. Of the 200 GB theoretically available, only 40 GB are available by default. If they want more storage capacity, customers must pay 15 euros in increments of 80 GB

The preferential treatment of the Freebox Revolution could not however have a limited time. The basis of the fee for private copying is regularly adjusted to match the new practices.Meanwhile, Free has cultivated his image as a troublemaker of the Internet. As he did in refusing to send the first warning messages Hadopi, while also stating at the time that he respected the law.

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Beginning of the offensive power of the Renault-Nissan

Monday, December 20th, 2010

This is the beginning of the offensive power of the Renault-Nissan. First model in the lineup, the Leafs Nissan will be launched from Japan on Monday. It must also be marketed this month in the U.S., then the next year in Europe, where she was voted "Car of the Year." 100% electric vehicles, which emit no pollutants or CO2, represent "a new way of looking at the car," said Carlos Ghosn, CEO of Renault-Nissan.

For now, more than 7,000 pre-orders have been recorded in the Archipelago and 20,000 in the United States, says Nissan. These pioneers are more urban, middle-aged, have high incomes and already own a car. Production began in late October on the site Oppama, near Tokyo. Nissan expects to produce nearly 10,000 cars by the end of March 2011. At full capacity, the plant released 50,000 copies a year.The Leaf will then be assembled in the United States, from the end of 2012, and Great Britain in 2013.

Carlos Ghosn is playing big on power. Renault-Nissan, which has invested 4 billion for the launch of four Nissan cars and four other Renault brand by late 2012, wants to become the market leader, it is estimated that 10% of global sales in 2020. He also dreams of raising the profile of its brands through the power, as Toyota has succeeded in symbolizing the hybrid technology.

The group is however only for the moment to have a vision so optimistic about the power. PSA Peugeot Citroen and Volkswagen estimate that this market will not exceed 5% of sales within a decade. Among the possible brakes: battery life, limited to 175 kilometers to the Leaf.Of charging stations will be installed in sufficient numbers to reassure users.

Battle with GM's Volt

Second obstacle, the price of models. But Renault-Nissan put on public funding in the first place unsecured personal loans. The Leaf will be offered in Japan to 3.76 million yen (33,300 euros), but in reality that will cost 26,500 euros, after deduction of premiums for the purchase of "green" cars. United States, the car will be marketed to 32,780 dollars, which sum to be deducted a premium of $ 7,500 from the federal government, plus a discount of $ 5,000 in California. Is a potential reduction of $ 12,500!

Despite the increased costs of battery electric cars "will all be profitable over the period of their life cycle of six years," said Carlos Ghosn. To lower costs, Renault-Nissan relies on economies of scale.The group aims for 2013 an annual production capacity of 500,000 cars and batteries a year. But "it will take us to be able to produce between 500,000 and one million batteries per year" to lower costs significantly, "he added.

More cautious, all manufacturers have yet joined the race to electric. PSA Peugeot Citroën sells at the end of the year, in small amounts, appropriate models of the Mitsubishi iMiEV. Toyota and Honda hybrid specialists, have announced an electric model in 2012. But for now, the battle of communication will mainly be played with the American General Motors, which is launching its Volt U.S.. However, this is a hybrid model, equipped with an electric motor capable of traveling 56 kilometers and another heat, which then takes over. GM expects to produce 10,000 next year and 45,000 in 2012.The Volt is sold around 24,000 euros, after deduction of public assistance.

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Eric Molina: "The Halde is a safeguard"

Tuesday, December 14th, 2010

Deputy Director of the Sustainable Development of the EDF Group and vice president of the Association of paralyzed France, Eric Molinié, 50, took the chair of a Halde in turmoil. Criticized for its position in Baby Wolf, threatened to be absorbed by the Defender of Rights, the High Authority should, under his leadership, interest in secularism. Without focusing on discrimination based on ethnic origin.

LE FIGARO. – In the Matter Baby Wolf, Halde ruled that there was discrimination. Was it a mistake?

Eric MOLINIÉ. – At the time, Halde had ruled in the state of the law. As staunch defender of secularism, I was among those who wanted to return to this complex case. At the appeal, the Halde should this time make proposals to the legislature. Baby Wolf because the case has revealed a loophole.It raises the question of secularism out of state services.

Should we change the law?

Only the Assembly can decide. But we will review the delegation of public service to see whether to extend the law to all services working with children, whether associations, such as Baby Wolf or day care services . In this case, staff would have a duty of neutrality. The question also arises in private clinics: they make a public service, but the staff has a private law status.

Are you opposed to the absorption of Halde in the Defender of Rights, scheduled for next year?

I am not against the pooling of resources. But I hope that its missions continue, as its specificity is recognized. For Halde is a safeguard. Companies recognize expertise. In addition, it helps to unclog the courts.She has treated 37,000 cases since its inception. She has mediations that meet the complainants and made 1800 decisions have generally been followed by the prosecution. These we now seek for our expertise.

Halde much does it cost too much?

In its final report, the Court of Auditors valid overall management. Communication costs, significant, were necessary and effective now because the majority of French people know they can enter the dump. It must evaluate its actions simple caseload. We make a mission of public service, social cohesion. All victims of discrimination should be aware that the Republic supports them.

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