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According to the latest figures published by the Centre for Documentation and Information Assurance, 500,000 people each year in France are victims of dog bites. And 60,000 cases require hospitalization. There is no data in France for the financial evaluation of these accidents. The U.S. comes in contrast to publish figures. In 2009, 4.7 million dog bites have cost 412 million dollars to U.S. insurers. A sales up 6.4% compared to 2008. On average, a complaint involves the payment of $ 24,000 to the victim. Swiss insurers were also interested in the costs of the bites. Nearly 10,000 people are attacked each year, and the invoice amount to 3.3 million Swiss francs per year (about 2.5 million euros) for insurers.The vast majority of dogs live happily without causing an accident, the teacher must still ensure ensure their pets to avoid disappointment. French law provides that the person having custody of an animal's owner or a person to whom it was entrusted for a long time – is responsible for damage that it causes.

Residential Property and Casualty

Most dogs can be insured under the "liability" with the contract signed comprehensive home for the accommodation of their owners. It is nevertheless necessary to learn about the extent of the guarantee.Some insurers do not cover all the damages and provide for the retention of a franchise.

In addition, this type of insurance that takes into account the damage caused by dogs to others (people being run down, bites, car damaged when it struck …) If the damage takes place at the home of the owner, only insurance including a comprehensive coverage will pay for furniture. Furthermore, companies may make the acceptance of the contract to different criteria. The age of the dog is particularly taken into account. If the animal has never been satisfactorily and has over ten years, the coverage may be denied.But other features can also complicate the underwriting of insurance, such as whether the dog is used as part of an occupation, size or race.

The category of dog

Many news items in recent years have indeed tightened regulations. Three pieces of legislation have established a classification of animals known as "dangerous." Several breeds have been grouped into two categories: the dog considered "attacking" (Tier 1) those of "custody or defense '(category 2). However, the law requires owners to purchase liability insurance for such animals. If the contract owner's insurance does not cover these risks, most companies offer the added option by paying an additional fee.If this is not the case, the owner will change insurers and take out insurance with another company that offers this option because it can not be purchased independently of a housing contract.

Finally, we must know that all these contracts do not cover the costs of care for injuries suffered by the animal. This will require specific health insurance, whose coverage is also more or less extended from reimbursement of veterinary consultations, to support operations or vaccine in France only 2% of the animals have health insurance, against 80% in Sweden.

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Opening in fall of 0.25% at 10,015 points, the Dow Jones continues on the downward slope. The 10,000 points are close, while Monday and Tuesday, the index has already fallen sharply.

On Wednesday, new orders for durable goods in the U.S. rose 0.3%, much lower than expected in July, and after two consecutive months of declines. A further blow, when an increase of 2.8% was expected, especially by public transport, with the Farnborough Airshow (47 billion dollars in one week).

Fears of a slowdown in economic activity grows with each new bad news in that order. Just yesterday, sales of existing homes fell more than 27%, which has shaken global stock markets.And U.S. growth should be revised down sharply on Friday.

The technology followed

As for values, technology, which derive from several days down the coast, remain controlled. Especially since they are also often at the heart of big mergers and acquisitions.

The investors thus have an eye on Cisco (-0.9% to 20.93 dollars) and Dell (0.73% to 11.67 dollars), penalized by expectations of raising its bid for 3PAR (-1 , 07% to $ 26.75).The maker of data storage systems has announced on Tuesday he gave three days at computer maker Dell to revise upwards its bid after bid "probably higher" Hewlett-Packard ( HP, 0.37% to 38.53 dollars).

The saga of the hostile takeover of mining giant BHP Billiton (-1.12% to 64.69 dollars) – which today presents its annual results, with net profit more than doubled in 2009/10 to 12.72 billion dollars – the king of fertilizers Potash (-1.42% to 146.99 dollars), seeking a white knight, bounces. The U.S. stock regulator, the SEC said on Tuesday the freezing of financial assets of two Spanish, one part of Banco Santander, on accusations of insider trading in the attempted takeover of Canadian fertilizer producer Potash mining group BHP Billiton.

On the occasion of the presentation of its accounts, however, BHP Billiton is used to calm speculation the event of any significant raising its hostile bid of 39 billion dollars (30 billion euros) Potash fertilizer leading manufacturer in the world, despite the magnitude of his war chest.

The U.S. computer giant Apple (-0.15% to 238.58 dollars) is close to a deal with Disney media groups (-0.5% to U.S. $ 31.98) and News Corp., parent of chains Television, Fox to offer their series to rent on iTunes, said Tuesday the New York Times.

Campbell, world number one soup, advances in its acquisition of Britain's United Biscuits, and more specifically, its branch Biscuits, which represents three-quarters of its business.

The cost of electricity will increase. The Department of Ecology and Energy has announced on Tuesday an increase of electricity tariffs by 3.4% on average, applicable from 15 August. Individuals will be affected up to 3%, and small, medium and large enterprises respectively 4%, 4.5% and 5%.

In accordance with normal procedures, the government seized on Tuesday of this project Regulatory Commission of Energy, however, that issue an advisory opinion. Whatever the opinion, the increase in electricity rates should cover 28.5 million individual customers and 4 million companies, representing 94% of French consumers.Last year, the bill had already risen on average by 2.3%.

With this new increase, the government is "to bring the price of electricity from its actual cost, in line with an opinion a few days ago by the International Atomic Energy Agency (IEA) low rates payday advance.

In its report, the IEA was concerned because of the artificially low price of electricity in France. Prices are set ultimately by the government, the agency stressed that they are therefore likely to be "politically motivated" and is well below the rates charged by our European neighbors. Even after this increase, prices should remain at 25-35% lower than the European average, the government argues.A low level that would jeopardize the development of new nuclear capacity French, believes his side the agency.

The U.S. equity market, should try to regain a little high on Monday. The index futures indeed predict a slightly higher opening on Wall Street. Futures on Standard & Poor's 500 and Nasdaq 100 advancing in effect 0.55% to 1 070.50 points and 0.51% to 1 812.10 points. On Friday, the New York Stock Exchange had fallen heavily, cooled by the low morale of American consumers and a series of disappointments on corporate earnings. The Dow Jones lost 2.51% to 10,099.26 points and the Nasdaq 3.11% at 2 179.05 points. The Standard & Poor's 500 broad, fell 2.88% to 1 064.91 points.

Today on the foreign exchange market, the euro off again on the rise against the dollar in the morning.Investors took advantage of a slight decrease of the single currency during the weekend to make purchases on the cheap, while the greenback was penalized by fears about the strength of the U.S. recovery. The euro was at 1.2959 dollars against 1.2926 dollars on Friday night.

Week decisive

The week will be decisive promises to Wall Street.

The main highlight at the macroeconomic level should be bi-annual speech of the President of the Fed Ben Bernanke on the economy and monetary policy before two congressional committees. He will testify first before the Senate Banking Committee Wednesday, the day when President Barack Obama enact the law on the reform of regulation of Wall Street.And the next day, he will address the Financial Services Commission of the House of Representatives.

As for the days to come, is also a whole bunch of statistics, including real estate, with housing starts tomorrow and sales of existing homes on Thursday.

The week will also see another round of results.

According to specialists of Aurel BGC, the main publications of the week are those of IBM (now), Goldman Sachs, PepsiCo, State Street and Johnson & Johnson (Tuesday), Altria, of Eaton, eBay, EMC, Coca Cola, Wells Fargo and Qualcomm (Wednesday), 3M, AT & T, Caterpillar, UPS and Microsoft (Thursday) as well as those of Schlumberger and Verizon (Friday).

Also note, always on the side of values, the Wall Street Journal, Motorola is close to a deal to sell its business network supplier Nokia Siemens Networks for 1.2 billion dollars. Last month, Motorola announced its desire to split the company into two in the first quarter of 2011 with a side activities supplier network and the other the mobile phone business.

Also according to the Wall Street Journal the company Emirates Emirates Airline is expected to announce today an order for 30 aircraft over long-haul Boeing 777 aircraft.

Earlier this week to smooth the Asian stock markets. On Monday, all the financial centers of the region displayed a slight increase in the wake of Wall Street and European stock markets Friday. The latter ended the week up one week after chaotic.

In Japan, the Nikkei gained 0.20% to 9,604 points in mid-session after starting on a decline of 0.50%. The Topix is 0.23% at 863 points. The benchmark index of the Tokyo Stock Exchange has taken the time to digest the defeat on Sunday, the Democratic Party of Japan (DPJ), in power, the Senate elections. The failure of the movement of the Prime Minister Naoto Kan weakens the leader of the center-left and opens a new phase of political uncertainty for the archipelago. Investors fear at this stage a deadlock in parliament could hinder the policy of reducing public debt, estimated at 200% of gross GDP.After their defeat, the DPJ and its ally, a small nationalist party, retain only 110 seats, the majority being fixed at 122 seats. The coalition remains however a majority in the Chamber of Deputies but must negotiate alliances with opposition parties on an ad hoc basis to enforce its laws.

Yen flexes

Despite caution, this defeat has not overwhelmed the markets. "The results of this election are obviously not positive, but at this stage they are probably neutral rating, investors had already considered the possibility that the ruling party does not obtain a majority, explained before the opening Yutaka Miura, analyst at Mizuho Securities.

The news has at least led to a weakening of the yen has benefited from the index. "The Prime Minister Kan will have difficulty in passing laws.It is therefore logical that few foreign investors buy yen, "said Hideaki Inoue, head of foreign exchange market to the bank Mitsubishi UFJ.

In terms of macroeconomic indicators, the Bank of Japan reported on Monday a slight increase,% yoy in June wholesale prices on the domestic market. It is the second consecutive increase in this index, which had previously declined for nearly a year and a half without interruption.

The region in the green

In the wake of Tokyo, the other places in the region rise slowly. In China, Shanghai and Hong Kong respectively gaining 0.81% to 2490 points, and 0.67% at 20,516 points. The National Bureau of Statistics (NBS) announced this morning that housing prices had continued to increase but at a moderate pace in June, further evidence of the impact of government measures to prevent runaway industry.Prices listed in 70 cities rose 11.4% last month, against 12.4% in May

In Korea, the Kosdaq is 0.52%, while the S & P climbed 0.31% Australian and Indian Sensex appears up 0.89%.

Oil gains ground

Crude prices were moving upward Monday in electronic trading in Asia brought by a rebound in financial markets.

In morning trading, a barrel of light sweet crude for August delivery took six cents to 76.15 dollars a barrel, while Brent North Sea with identical maturity, gained 3 cents to 75.45 dollars .

"This is not because there is the economic crisis that the climate crisis is over!" While in Paris on Thursday to meet with parliamentarians and French employers, the European Commissioner for Climate, Connie Hedegaard, continues to carry the torch the fight against greenhouse gas emissions. Proof that it should not lower our guard, even though the cold winter in Europe was an illusion, the past twelve months have been, globally, the warmest ever recorded.

Asked about the carbon tax at the borders of the European Union (EU) dear to Nicolas Sarkozy, Denmark's answer, in accordance with the wishes of the French president, the European Commission has discussed this mechanism among the various instruments to reduce CO2 emissions in a communication dated May 26"But I prefer to leave it in the toolbox."

A trade war

As the British Government and several of his fellow commissioners, Connie Hedegaard think raising the price of imported goods like Chinese steel example, according to their carbon footprint is "extremely difficult to implement." Most importantly, "Is that such a measure would help the Chinese to be constructive?" Asks she, fearing a trade war if the environmental barrier was erected on the borders of the EU. One of the arguments of French supporters of a "border adjustment mechanism is that it may help to avoid relocation of jobs to countries where less stringent rules on carbon can produce cheaper.Better to engage in innovation and green growth to create jobs in Europe, contends Connie Hedegaard, as echoing the credo of the Obama Administration.

Former Danish Minister of Environment, which, as such, has chaired the conference in Copenhagen, believes that for the modest agreement in December 2009 ripped credible, rich countries should honor their commitment to pay this year 10 billion dollars promised to the most vulnerable. The finance ministers of Twenty-Seven detailed in May and pay their share of 2.4 billion. These additional funds, a majority of donations and a minority of loans will be paid directly by the Member States. To date, recipient countries have not seen the first euros of new funds.

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The government will reduce funding by more than half of the missions of the State, Ecology and Agriculture, and Labour and Employment from 2012, while the Justice and Research are spared the game, as the budget document released Tuesday.

According to the report submitted to the National Assembly, which specifies allocations for different missions, "except the Department of Justice and the Ministry of Higher Education and Research, all departments will be downsized on the years 2011-2013.

Research and Education, Justice up

The Mission Research and Higher Education remains the first priority of government, is it indicated. His credits will increase from 23.63 billion euros in 2010 to 23,830,000,000 in 2011, 24.04 billion in 2012 and 24.23 billion in 2013.In addition, the department "will be, exceptionally, no job cuts.

The Department of Justice will be the only "benefit from new jobs net (400 in 2011), mainly for the prison administration," the document said. The credits of the mission will spend 5.65 billion euros in 2010 to 5.80 in 2011, 5.96 in 2012 and 5.90 in 2013.

Labour and Employment, Agriculture, Ecology down

Side decreases, the mission and Career credits will rise slightly next year, from 11.25 to 11370000000 before "fall sharply" with "better jobs" expected, 9, 10 billion in 2013.

The Ministry of Agriculture will also see its funding decline from 4.46 billion euros in 2010 to 4,210,000,000 in 2013.In 2011, 650 jobs will be eliminated on this ministry.

The credits of the mission Ecology will also decline sharply in 2011, from 9.24 billion in 2010 to 8,820,000,000 in 2011.

The money for the ODA will, themselves, stabilized in value over the period.

As announced 16,500 job cuts are planned in 2011 in Education, under the rule of non-replacement of retiring staff of two.The credits of School will initially increase slightly, from 44.14 billion in 2010 to 44,450,000,000 in 2011, then fall to 44.05 billion in 2013 payday loan lenders.

In the three years, a rule enacted by President Nicolas Sarkozy will "not replace nearly 100,000 retirement, or 31,400 full time equivalent (FTE) and 2011, 32,800 FTEs in 2012 and 33,000 FTEs in 2013.

The downsizing effort is "higher than average" to ministries of Budget, Foreign Affairs, Agriculture, Defense, Ecology, Health and Sports.

"Operators of the state will also be involved in this process (…) with the exception of operators attached to the Ministry of Higher Education and Research," the document said.

The government amounted to "nearly 3 billion euros' savings" related to non-replacement of retiring in two "over three years. But 50% of these savings will be a "return to civil servants".

The burden of debt on the increase

The interest burden of government debt is expected to grow strongly in coming years, as spending on employee retirement, still shows the budget document.

The interest burden of debt, that is to say, the annual payment of maturities of the loans, should "increase in value by over 9% per year on average, five times more than inflation," says document.

It should increase from EUR 42.45 billion in 2010 to 55,190,000,000 in 2013.This increase is explained by "the rising stock of debt since 2009, due to the crisis which has seen deficits explode, and" the expected increase in interest rates. "

The pension expenditure officials should, too, to increase from 35.06 billion in 2010 to 39,580,000,000 in 2013, "despite the beneficial impact of pension reform," the statement said. "The retirement of civil servants are currently a" very high on the period, the government said, citing also "revaluations of pensions to inflation."

The government pledged to freeze "value" the expenditure, excluding debt and pensions between 2011 and 2013.

The CAC 40 may play yoyo Monday. After booting up from 0.43% to 3362 points, the key index in Paris fell back into the red within an hour after the start of the session: -0.19% at 3342 points

Elsewhere in Europe, even the Footsie in London returns to equilibrium (-0.05% to 4835 points) after starting the day up 0.45%. The German Dax, which climbed 0.34% at the opening, back up 0.08% at 5839 points.

The caution at the beginning of the week, as in Asia. On Friday, the CAC 40 finished on a small increase of 0.25% after a volatile trading. All investors anxiously awaiting the monthly figures for U.S. employment, which were more troubling than expected 125,000 jobs lost in June but 83,000 in private creations against 33,000 in May, and unemployment fell to 9.5%.The U.S. markets have fallen back slightly after the announcement, but their European counterparts have remained on the upside.

The CAC 40 lost 5%, however the last five days. Investors can not follow Wall Street Monday as the U.S. stock market is closed after the national holiday. On the side indicators in France, the PMI services will be published. For the euro zone composite PMI index, and the sales details will also be announced.

The banking supervision

Dexia (0.61% to 2.81 euros) received the assumptions of Stress tests requested by the European Union on the eve of the weekend and is currently being examined, according to chief executive of French bank Belgian-Pierre Mariani.

BNP Paribas (0.70% to 44.51 euros) has sold its subsidiary of consumer credit BNP Paribas Personal Finance Belgium funds Apax Partners SA and Altamir Amboise. The sale is part of the commitments made by BNP Paribas to the European Commission following the acquisition of Fortis in Belgium in 2009.

Zodiac Aerospace (+0.48% at 37.67 euros) has agreed to buy German Sell.It is the third acquisition transaction in two months for the group led by Olivier Zarrouati.

Carrefour (1.23% to 32.53 euros) will close unprofitable stores sixteen in Belgium at the end of the month as part of the restructuring of its assets in the country, while strengthening its partnership with Mestdagh. The group expects these closures savings of about 25 million euros per year.

Air France KLM (0.64% at 9.66 euros) will face a new competitor on the field connections to Africa. The Airline Oxygen Africa should get the green light for launch in the coming weeks.

France Telecom (0.28% to 14.24 euros) must submit to the press, about 11 o'clock this morning, its strategic plan for the next five years.He wants to have more than 300 million customers worldwide by 2015 against about 200 million today, "said Stéphane Richard, CEO of telecoms group, in an interview published in Le Parisien on Monday.

Total (0.01% to 36.19 euros) does not study the acquisition of BP, but would be willing to consider the acquisition of certain assets if they were on sale, said Friday the CEO Christophe de Margerie.

PSA Peugeot Citroen (0.84% to 21.05 euros) announced it acquired for an amount of 244,925,000 euros, part of the bond issued in 2001 and maturing in September 2011. The takeover was launched June 21, 2010 simultaneously launching the bond issue of 500 million euros due five years.

Despite his attempt to play the holdouts last-minute income Multimedia Group (MRG) was not accepted Monday by the band The World as a candidate for his recovery. In a statement released Monday, The World soberly describes the proposed "new expression of interest" without being recognized among the bids recovery group. "The world has so far received two offers from investors. This group BY SFA (holding the Nouvel Observateur) Claude Perdriel ally groups Prisa and Orange, and the consortium formed by MM. Bergé, Niel and Pigasse, "he says. Now, the two trios competing trying to convince companies and individuals. Hearings began Monday afternoon and will continue today.The company personnel, who have somehow a veto on the appointment of their successor, will express their preference in a general meeting on 24 and 25 June

Reportedly, the two bids, some thirty pages each, are accurate. The trio SFA-Prisa-France Telecom plans to inject 100 million euros (10 million from a bank loan) in the group for 67% of the capital. Perdriel propose to hold 45% of the capital, against 35% and 20% for Prisa for France Telecom. Stephane Richard's group plans to inject about 40 million euro offer for the shares of Lagardere, whose 7 million for the participation of 17.27% in Le Monde and 33 million for the 34% interest in the Interactive World .This values the total equity of the group (after debt) to around 40 million euros …

Create a foundation

For its part, the trio offers Pigasse-Niel-Bergé would book the group's employees a surprise. In addition to 110 million euros available for 65% of the capital, the trio was ready to fund "the possibility of personal companies of the group to return to their blocking minority," a reliable source. Thus, Pierre Bergé undertake, if its bid is successful, to create a foundation in which he would pay ten million for the company personnel can see their share increase by 20% (at the end of recapitalization) to 33%, the blocking minority."The relevance of this investment lies in the fact that it would pay the passage of the tickets out of shareholders Lagardère and Prisa diluted by the recapitalization," says one.

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A conciliator bedside World

No change in the short term. But the door remains ajar for two more months. Nicolas Sarkozy held a meeting this FRIDAY on pension reform in the presence of several ministers: Baroin (Budget), Georges Tron (Public Service) and Eric Woerth (Labour). Following this meeting, the President of the Republic has decided to send as is the bill (see the text in its entirety) to the Councils for review. No editing for now, is therefore proposed for this text which provides a gradual increase in the age of retirement until age 62 in 2018.

However, the executive says ready to developments on three issues dear to the CFDT: the situation of people who started working before age 18, taking into account the hardship and treatment of poly-pensioners (of persons covered by several pension plans) low fee payday advance. The special case of poly-pensioners had hitherto not been mentioned in the text of the reform presented Wednesday.

Nicolas Sarkozy has asked Eric Woerth offer him "at the latest before the start of parliamentary debate in September, possible developments on these topics.

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