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The Paris Bourse is holding its breath on Tuesday. The CAC 40, which was closed yesterday up, goes back to red at the opening. He lost 0.73% to 3215.50 points. In London, the FTSE-100 index of the main values ​​lost 0.68% to 5314.16 points while the Dax index featuring the Frankfurt Stock Exchange down more than 1% to 5960.22 points. The Madrid Stock Exchange lost 0.65%, that of Zurich 0.63% and 0.28% in Milan.

Combined these as on global markets, all eyes will be on the Elysee Palace in Paris to take place a meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy, to improve governance in the area euro.The two leaders will meet from 16 hours and hold a press conference around 18:30.

Investors already know that he must not expect miracles, especially not that the two largest economies in the euro zone agreed to set up Euro-bonds, which would be financially harmful to Berlin. "Do not expect anything dramatic" at the end of the meeting Monday said a spokesman for Angela Merkel, that "people expect once again a spectacular blow." It should only be to continue discussions on the governance of the euro area, following decisions taken by Heads of State and Government of the European end of July.

Operators still expect progress on this issue."If nothing is announced, it will mean that there is a deep rift between Paris and Berlin markets can get excited again," warned Yves Marc, sales of shares in Global Equities.

Meanwhile, Asian markets have already set the tone with very mixed sessions, despite the good momentum on Wall Street, which closed yesterday on a sharp rise. Oil down with a barrel of "light sweet crude" that is losing 45 cents to 87 instant payday loans.43 dollars and that of Brent which cedet 42 cents to 109.49 dollars. Sign of nervousness room, gold was up, quoting around 1767 dollars per ounce at the opening in Hong Kong dollars in 1744 against the previous day closing in New York.

German growth slows

In addition to the meeting, investors will be occupied by the many indicators that will be published on both sides of the Atlantic.Germany has announced a particularly sharp slowdown in growth in the second quarter. German gross domestic product (GDP) grew by only 0.1% in the second quarter compared to the first, where he still displayed an increase of 1.3%.

The GDP of the entire euro area over the same period will also be unveiled at the same time as the trade balance in June

In the U.S., markets will learn in the afternoon of housing starts, prices for import and export and especially of industrial production. This indicator is closely watched as markets worried about more and more sluggish growth of the world's largest economy.

Values ​​to follow

On the corporate side, the news is much thinner. Bank stocks are again followed. They fall before the meeting Sarkozy-Merkel.BNP Paribas (-2% to 36.77 euros), Societe Generale (-1.92% to 24.32 euros), Natixis (-183% to 3.05 euros), AXA (-1.82% at 11, 03 euros), Credit Agricole (-1.20% to 6.65 euros) take the rating down.

GDF Suez (-0.83% to 20.81 euros) is added to the list of preferred values ​​of UBS.

EADS (-0.59% to 21.88 euros): Russian Transaero airline will buy 12 Airbus A320. Qantas has in turn announced the purchase of 110 Airbus A320s and the deferral of delivery of six Airbus A380 jumbo jets.

Unsurprisingly, Georges Tron, accused of sexual assault by two former employees, resigned Sunday as Secretary of State for Public Service, announced earlier this afternoon in a statement the Prime Minister François Fillon who said "take note" of this decision. According to the Elysee is Baroin, minister of Budget and Appropriate Minister Georges Tron, who resumes his duties.

This departure is not a surprise. In the morning, Le Journal du Dimanche had reported that the resignation of Secretary of State would intervene in the day. According to the weekly, the decision was taken Saturday.It is François Fillon person who would be responsible for prescribing the manner of his departure.

He defends himself in his letter of resignation

"As a private citizen, I will make a personal matter to recognize my innocence while fighting the charges of vindictive two former employees, one was fired for embezzling public funds entrusted to him and the other resigned because of conduct unbecoming, "said Georges Tron in his resignation letter that was provided Lexpress.fr.

"Anyway, the press campaign that they have caused – before any intervention of the judiciary – has received such coverage in the media, that our citizens can consider myself as guilty before my rights have been begin to be implemented: think, Mr. President of the Republic, I have not even informed me that the complaint is, the procedure does not provide (presumably because it does not the public trial that I did), "said the now former Secretary of State for Public Service.

Alain Juppe pushes him towards the exit

In the columns of Le Parisien on Saturday, Georges Tron still seemed to want to believe. "I do not want to be annoying," he noted, while ensuring they do not feel "under siege". "I am extraordinarily serene," he explained in everyday life payday advance.Saturday afternoon, his lawyer indicated he would resign if the Head of State or Prime Minister asking him.

But on Sunday, the deal seemed to have changed. Alain Juppe including implicitly invited the secretary of state to resign, saying the government members must be "above reproach". "For now, he is presumed innocent," said Minister of Foreign Affairs on Canal +. "The rest is a matter of personal ethics. I have no lessons to give, but there are moments where he must learn to take responsibility themselves, "he said.

Secretary of State for Public Service is currently the target of complaints from two former employees of Municipal Common Draveil (Essonne), where he is mayor. The prosecution of Evry has given the police a preliminary investigation for sexual assault and rape.The two women have long been heard Thursday by the investigators, who have provided a list of witnesses, mostly city employees, may corroborate their versions.

A third complainant?

Sunday, JDD reveals that a third alleged victim would have emerged and should be heard in the week by investigators. He is a commissioner Draveil moved "on demand" by Georges Tron earlier this year. If we do not know yet the details of this story, a union officer told the weekly that the Secretary of State "was hard on her (the woman) for months. (…) I do not know exactly what happened between them, but I know she has lived all this very badly, "he said.

The lawyer Georges Tron, Mr. Olivier Schnerb, denounced Sunday the "media manipulation which has been subjected.""It is presented in the media as a culprit condemned already" while his two accusers' delight to show on television, "he said. "The defense of Georges Tron has not yet begun.

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Zinedine Zidane, Catherine Deneuve, Michael Jordan and Madonna have their BoConcept furniture, as more and more French. "In a furniture market growing 2.7% last year, BoConcept has managed to grow its sales by 21% to 48 million euros," said Tim Machenaud, France Director of the sign. The French branch has experienced the strongest growth (LFL) of the 55 countries where the Danish group, born in 1952, is present.

BoConcept has yet installed almost by accident in France in 1993. "We were mainly found in Scandinavia as wholesalers," recalls Viggo Mølholm, Group CEO and son of one of the two founders. With the first store in Belle Thorn (Val-de-Marne) open on the board of a student in marketing, furniture manufacturer – which had Ikea and Fly among its clients – embarks distribution.Eighteen years later, BoConcept France became the largest contributor (21%) on sales of the company listed in Copenhagen, far ahead of Germany (13%), United States (10%) and Spain (6%).

"Finding the right balance"

"In the coming years I am convinced that we can continue to grow at an annual rate of 20% in France, among others through the next opening," said the CEO, which lists some points to improve to get there. The average basket of 1050 euros, not high enough, focused attention. "After working for more upscale, we've got a good price positioning," J. Viggo Mølholm. "The challenge of the mid-range segment lies in the fact that we do not have large volumes of low-end and we were not comfortable margins of the high end.It is difficult to find the right balance, which explains the lack of competitors in this segment, "said Tim Machenaud.

BoConcept does not cover the kitchen or the bathroom or the children's room and do not wish to extend its range to other universes. He wishes to deepen the other hand, since this year by offering two collections a year. But also by pushing even further personalization of its furniture design (choice of fabrics, materials and colors), still mostly made near the historic headquarters in Herning, Denmark.

After putting its expansion project in brackets last year, BoConcept expects to create between three and six stores this year in France. "Since 2005, our network has been considerably expanded from seven to 31 stores. We want to reach fifty in the medium term, "France says the director, who admits to not being pressed."I prefer to wait to find the right franchise, good location and good town," he says, noting the target areas with at least 250,000 inhabitants.

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While the rating agency Fitch on Friday downgraded the rating of long-term debt of Greece, and the French minister Christine Lagarde asked Athens to take further fiscal austerity measures, the German finance minister speaks the ability to offer additional assistance to Greece.

In an interview published Sunday by the newspaper Bild am Sonntag, Wolfgang Schäuble believes that steps could be taken for the country if his efforts fail to reduce its debt. This additional support "is only conceivable if it is confirmed that the private creditors such as banks, do not opt ​​out of Greece, leaving European taxpayers to take full responsibility," said the German minister nonetheless. He believes that the creditor countries of Greece must first ensure that Athens is able to overcome its economic difficulties."Only in this case we could, if necessary, discuss an extension (the maturity) bonds that Greece should pay next year," says he.

The inspection visit, arriving in early to ensure that Athens respects the conditions attached to the bailout 110 billion made in the country, had to extend his stay. Officials hope it will make its findings next week but no date has been set. Wolfgang Schäuble also said that the decision to give an additional boost will require the approval of the International Monetary Fund (IMF) and especially that of centrel Bank (ECB).On Friday, the IMF has in effect called the euro area to urgently adopt a more comprehensive range of measures to resolve the debt crisis, but some resistance has emerged towards the ECB.

'Soft' restructuring

George Papandreou, the Greek Minister Pemi must submit on Monday a multi-year plan with new measures to strengthen the fiscal consolidation of the country payday loans lenders. He hopes to escape the restructuring of the enormous debt that he does not want to hear aujoud'hui, but that markets demand. Unlike the ECB, they are convinced that Athens can not solve its problems by merely the emergency loan of 110 billion euros already granted by euro zone countries and the IMF. Despite a big effort to reduce the deficit last year (five points of GDP), Greece is indeed still in a critical budget situation.

The leader of the finance ministers of the eurozone, Jean-Claude Juncker, is the promoter for this week of a 'soft' restructuring through debt rescheduling. He pleaded over the weekend for the creation of an independent umbrella of the Greek government's privatization program in the country. Athens has planned about 50 billion euros from privatizations in 2015, whose income must be allocated to debt reduction. This option is opposed by the European Central Bank (ECB), fearing that the outright failure of Greek banks, and chain reactions throughout Europe.Dominique Strauss-Kahn, former head of the IMF, was also on the same line.

Determined to "save" his country that he says can work it through his own efforts, George Papandreou is due to visit Paris this week, Tuesday and meet with key political leaders of his country to reach a consensus on measures to be taken to cope with the crisis. This agreement required by the countries of the euro area, however, looks difficult to obtain, the prime minister faced with a sling, even within his own party.

(With agencies)

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Notaries, tax and estate planning departments of banks are preparing for busy week. Many individuals want to make donations before the vote – scheduled for early July – the tax reform Heritage presented last week. "There is a window of opportunity for all those who want to give," says Bertrand de la Grandière at Compagnie Financière Edmond de Rothschild.

The reform removes, of course, the tax shield and landscape ISF, but also increases the taxation of gifts and estates. The allowance of 159,325 euros remains for transmission to a child, and the surviving spouse is exempt from inheritance tax. But the fees payable in case of large gifts will increase as a result of several measures.

Is it because of his shiny red hull? Or how its architecture English docks with warehouses rehabilitated? Impossible in any case to miss the Millennium The new mall when you get up to the Porte de la Villette on the Paris ring. To find out, it will wait until tomorrow, when the official opening. Launch a daring while the activity of shopping malls is not in sparkling form. In 2010, their turnover has almost stood still with an increase of 0.8%, following several years of decline.

Located in Aubervilliers, The Millennium has retained from the mistakes of recent years. It is accessible by car, of course, with 2800 parking spaces and will also soon be in transit with the arrival of the T3 tramway in 2012. It can also count on the attendance of clients who work or live nearby.Club Med Ifop or Regional Health Agency are located in walking distance. And 1100 dwellings are planned in warehouses Mac Donald, on the other side of the device. "Overall, our catchment area of ​​two million people, said Serge Grzybowski, Icade CEO, developer of the project with Klépierre. We will attract customers from north-east of Paris (eighteenth, nineteenth and twentieth districts) where there is no such commercial facilities nearby and also inhabitants of Aubervilliers, Saint-Denis La Plaine Saint- Denis. "

Ambitious goals

Second originality: this mall is equipped with a hypermarket to attract significant flows of consumers, with only 4200 m², this hypermarket Carrefour does not play the card of gigantism because consumers are now looking to store more human dimension fast cash.In contrast, the Millennium, located on two floors, with 140 shops next. With 56,000 m², it is also the largest shopping center opened in France for ten years. Greatest example qu'Odysseum (35,000 m²), launched with great fanfare two years ago in Montpellier.

So, the choice of shops is varied. There are the inevitable (Fnac, Boulanger, Sephora, H & M, Zara, Celio, Desigual …) but also some newcomers little presence in France: Kiko, a sign Italian makeup, Hema, an offshoot of a Dutch group that sells gadgets Home and Home Confo, the latest concept Conforama which is the first shop.

Finally, there are eight restaurants including McDonald's, a cafeteria and a Japanese Flunch.Only drawback: it lacks a store that creates the opening event as was the case with the Apple Store Odysseum.

Proponents ambitious targets. "The first year, we expect an attendance of ten million people, said Laurent Morel, president of Klépierre. This seems reasonable because in Odysseum, which is smaller, we are six or seven million visitors. Ultimately, we expect 14 to 15,000,000 visitors. Even rise expected turnover: the first year, it should be within the range of 150 to 200 million euros, reaching 300 million in three to five years.

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The real estate market settles down it? If house prices continued to rise in early 2011, at a rate slightly less intense, according to figures released Tuesday by the Chamber of Notaries of Paris-Ile de France. Between November 2010 and January 2011, the average price increase has been reduced to 2.2% instead of 3.4% the previous quarter. Always important, the increase reached 4.3% in the capital, down from the 5.2% recorded between July and October 2010. Little Crown has experienced inflation of 2.6% against 3.2% previously, and the prices had increased by 2% in October in Great Crown, remained stable in early 2011.

This is especially the prices of flats which hold the bull market.At the end of January they rose another 3.4% – against 4.1% in October – while houses showed a very slight variation of 0.1% when they had taken 2.1% three months earlier. Annual rate, price levels of 2011, however, still remain well above those of early 2010 (+11.9% in Ile-de-France and +17.2% in Paris)

Loss of momentum

These statistics confirm the market analysis done by Century 21 at the end of March. The network of estate agents said that while prices were falling even in 8 regions of France. Meanwhile, the volume of sales has also lost some of its momentum, as always with Century 21, a decline of around 3% nationally. Statistics show 10,000 notaries sales for the month of January 2011, against an average 12,600 sales for the month of January classic.

The Chamber of Notaries refuses for now to draw conclusions from this slowdown. 39,700 sales have indeed been recorded between November 2010 and late January 2011, a figure up 17.6% year on year! The pause recorded earlier this year could well be the "backlash of the exceptional activity" at the end of 2010, says notaries in their statement. The announced end January 1, state aid to the acquisition (doubling of interest-free loan, deductibility of loan interest …) has indeed led many households to accelerate their purchases to take advantage. Century 21 also highlights the return to higher interest rates had boosted the market, reaching their lowest level in the second half of 2010. However, it was a few months to see if the lull is long term.

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A declining yen and figures on U.S. employment Satisfactory. These are all factors that boost Asian stocks on Monday. The Nikkei 225 gained 0.44% to 9751.46 and points.

The yen against the dollar, which decreases to 84.18 yen rating (+0.10%) and against the euro which advances from 0.07% to 119.73 yen. And the U.S. has created far more jobs in March than economists had expected: 216,000 against 190,000. Canon gained 0.54% to 3670 yen, Nissan advance of 0.68% to 734 yen or Mazda climbed 2.23% to 183 yen.

The yen's rise is moderate, after the morale of large Japanese manufacturing firms on the economic consequences of the earthquake of March 11 were down. The confidence index fell to -2 3 cons. "The market is still not completely sure of the quake's impact on the economy.He expects to see more good macroeconomic news to take more positions, "said Mitsushige Akino at Ichiyoshi Invesment Management. TEPCO was down 0.66% to 447 yen.

Oil at its highest since September 2008

In China, the Hang Seng climbed 1 payday advance.09% to 24,061.30 points. The Shanghai Stock Exchange is closed tomorrow and Monday. The quotations in Shanghai therefore resume Wednesday morning.

Elsewhere, the trend is similar, except the Seoul Stock Exchange, whose main index, the KRX 100, was down 0.75% at 4507.14 points.Otherwise, Taiwan TAIEX advances from 0.25% to 8705.13 points, the S & P / ASX 200 in Sydney is 0.50% at 4886.30 points, the FTSE Straits Times Index rose 0.32% to 3130.61 points and the BSE Sensex 30 Bombay gaining 0.21% to 19,460.30 points.

Oil prices continued to rise Monday morning in electronic trading in Asia, reaching a new high since September 2008, supported by good unemployment figures published in the U.S. late last week, analysts said. In morning trading, a barrel of light sweet crude for May delivery gained 72 cents to 108.66 dollars. That of Brent North Sea crude for May delivery took 40 cents to 119.10 dollars.

The war of the taxis Avignon button does to an end? According to Le Parisien – Aujourd'hui en France published on Tuesday, the low-cost airline Easy Take was removed by the board of registration Trump France, the national tourism agency. Since January 2010, twenty company vehicles transporting clients in Avignon and the surrounding reservation. To lower prices, the company uses advertising space on cars and on screens inside. Result: Racing sometimes two times less expensive than those charged by taxis in the city, which has aroused the discontent of taxi drivers in Avignon.

In early March, nearly 900 drivers have organized an operation snail in the center of Avignon to protest the "unfair competition" Easy to Take. The unions accuse the new taxi company does not comply with the law by practicing marauding Easy Take denies that.In the context otherwise difficult, low-cost airline would, in their view, a decrease of 30% of their business.

According to Le Parisien, Aujourd'hui en France, the registration committee relied on four PV prepared by the police from Avignon to revoke the license of "passenger cars with driver" Easy to Take. The Kangoo society would neither comfort nor the identification of this category of vehicles and in fact exercise the profession of taxi cash advance no faxing.La decision should be applied upon publication in the Official Journal.Easy Take states, meanwhile, had "received no official document" and "not knowing what [he] is accused."

One of the two licenses already lost

Already on Monday night, Take Easy confirmed to have lost his license for "passenger cars with drivers" but indicated another to keep 'road passenger transport, which enables it to carry at least two people. This activity represents, according to the company, 97% of its turnover. "We will therefore rely on our second year and perhaps not to transport people only for a short period", told AFP Rotureau Elsa, spokesperson for the company.

The loss of the second license would, this time, the death knell of the ambitions of Easy Take reported that it invested one million euros to start. The Court of Appeal of Nîmes is also making its decision on April 19.The union of taxi drivers asked of Vaucluse to order the cessation or prohibition of exercise of Easy Take.

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This is one of two options for reforming the taxation of inheritance: the ease with EWB scale transformed. The other option is its abolition and its replacement by a new tax. The option for relief was undoubtedly the preference of parliamentarians.

Nevertheless, ISF smaller version has some drawbacks. Certainly, it helps to remove the tax on capital 300 000 households had entered because of soaring real estate, a total of 550,000 taxpayers. How? By starting the tax to 1.3 million euros of assets, against 800 000 today.

"However, households with assets of between 1.3 and 1.4 million would pay, those, about 500 euros EWB more with the new system. And this without even taking into account the impact of the end of the shield, warning the entourage of Gilles Carrez, the rapporteur UMP budget to the Assembly.One reason: the new fee would apply from the first euro of assets, while the current scale is progressive, which means, among other things, that the charging begins only 800 000 euros. Indeed, this tax from 1 euro combined with the new scale would lead to increased ISF those whose heritage is from 1.3 to 1.4 million. And alone. But this is unfortunate because he missed penalizes households "moderately" rich and encourages them to cheat to pass under the 1 free credit score.3 million heritage.

Proposed adjustments

Therefore Bercy working to remove this bump EWB. "You can pass the threshold of entry to the TFR at 1.4 million, which would cost 100 to 200,000,000 to the State. Or reimburse these households the additional FSI, which underestimate the tax revenues under 40 million, "said Gilles Carrez's entourage.There remains one other category of households penalized by ISF lightened: the approximately 1,200 taxpayers in the last installment of ISF (over 16.8 million assets) activating the shield. "With the shield, the average tax rate of their assets was only 0.22%. With the new schedule and because of the end of the shield, it would rise to 0.5%, "says Gilles Carrez's entourage. An increase that does not seem to move Bercy.

"Overall, the tax rates of the new scale are so much lower (0.25 and 0.5% instead of 0.55% to 1.8%) that most taxpayers will see their bills go down even with the end of the shield, "says Valérie Harnois-Mussard, a lawyer with Fidal. In fact, for a wealth of 10 million, for example, the TFR would increase from 112 450 to 50 000 euros.