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To save the decline of its magazine group, the head of Time Warner has chosen a specialist in the world of digital media communication. By appointing Laura Lang to head Time Inc.., Jeff Bewkes, the head of Time Warner, has plunged the newsroom of titles such as People, Time, Fortune and Sports Illustrated in perplexity. "She knows nothing about the press and publishing," some have criticized this woman of 56 years who previously headed Digitas, an interactive agency acquired by Publicis 1.3 billion in late 2006.

"It depends how you define the word" press "and" edit "," their replies in advance Laura Lang. The latter has extensive experience in communicating with users, readers of tweets, Facebook addicts and fans of digital tablets.A graduate of Wharton, a prestigious business school of the University of Pennsylvania, she serves on the board of directors of the agency Vivaki (Publicis Groupe) as well as advice clothing company VF Corp.. And Benchmark Electronics, industrial society and electronic engineering.

When you secure a quick cash personal loan, make certain to pay it back on time. Loan pay back time is just as important to consider as when (and how much) to borrow.

Gran Via, Saturday afternoon, thousands of Madrid overflowing sidewalks to rob the shops in the center. Plaza Santa Ana customers compete tables for a drink and some tapas … According to a recent survey, 68% of Spaniards say they are happy despite the economic depression. The Spanish crisis is a strange crisis. Five million unemployed, a growing debt to half-mast and the edge of the alert levels, but the fiesta continues. On the surface, anyway.

The costs of the crisis, in fact, are unevenly distributed. On the one hand, those who keep their job. Possibly concerned about the situation, their objective situation has changed little since the crisis began, three years ago. On the other, 21.5% of those unemployed, whose number is increasing. Poorly defended, forgotten unions, their suffering is silent.The bank is threatening to enter the apartment of the family, a three bedroom 45 m2 Carabanchel, a neighborhood south of Madrid online payday loans. "A desahucio" expulsion of more. In 2010, 100,000 Spanish families were evicted four times in 2007!

Caritas, the equivalent of Catholic Relief Services, published three years the results of the Observatory of social reality. The figures are more alarming each year than the previous year. Juan Jose Lopez, the research department of the NGO, said the number of persons received by Caritas has more than doubled since 2007: 950,000 people have knocked on the door of the association in 2010 against 400,000 three years ago. "The situation worsens and becomes chronic."

If the threat is executed, Alejandro is considering several options. "Yes I Can camp, but my mother is 60 years old.

"The revival of the European economy is broken." The verdict of the European Commission, which presented on Thursday its autumn forecasts for 2011-2013, is categorical. According to Brussels, all signals of the economy are red. "The sharp drop in confidence hinders investment and consumption, while the slowdown in global growth reduces export and fiscal consolidation to operate emergency weigh on domestic demand." Accordingly, the Institution provides a low growth for the EU in 2012, about 0.6% against 1.9% forecast last spring. In the euro area, GDP is expected to show a slight increase of 0.5%.

The return to growth, albeit slow, is scheduled for 2013 (1.3% in euro area and 1.5% in the EU). Unless additional shock …Olli Rehn, European Commissioner for Economic Affairs has indeed warned that Europe could "experience a new recession." He urged governments to restore confidence in "fiscal sustainability and the financial system" by accelerating the reforms. For the European Commission, the restoration of that confidence is well underway. "The measures adopted in recent months should help to remove uncertainty regarding sovereign debt and the financial crisis in mid-2012, and this should gradually unlock investment and consumption," says his report.

In France, Brussels forecasts should take a cold. François Fillon on Monday presented a new plan of austerity measures designed to bring 65 billion euros by 2016.

Financial markets have returned to levels prior to the Europe Agreement. After the Greek Prime Minister George Papandreou announced a referendum by the Greek end of the year, the Cac 40 lost more than 9% over the last three sessions to fall below the 3100 points. Heads does one to a fourth consecutive session of decline? Probable: after opening on a technical rebound by nearly 2%, the Paris index off again down in the late morning. Halfway through, he advanced modestly from 0.30% to 3077.67 points.

In Asia, the Tokyo Stock Exchange fell by over 2% to 8640.42 points, while China's financial markets have now returned and rose slightly.

On the foreign exchange market, the euro regained some strength to climb 0.83% in late morning at 1.3775 dollars."More than a referendum Greek, what are the consequences of such a decision are disturbing, that the will of the populations of other European countries to express their disagreement through a referendum," said Laurent Berrebi, Chief Economist Groupama Asset Management on BFM Business payday loan online.

In addition, the Prime Minister, François Fillon, will hold talks in late morning with the leaders of banks on the implementation of decisions of the last EU summit and the financing of the economy.

Vigilance on banking stocks

On the corporate side, banking stocks should still hold the attention well after the Greek government has cast doubt on the effective starting date of the settlement of the crisis of sovereign debt area. In Paris, BNP Paribas is leading the CAC 40 (3.99%, to 29.70 euros).

On the sidelines of the strike of hostesses and stewards of Air France since Saturday, the Air France-KLM is struggling along on its activity and its development policy. In this context, the current social movement that will last until Wednesday could further strain the finances of the parent: in 2007, again at All Saints, a strike had caused major disruption and cost him no less 60 million euros.

Now the group through a period of turbulence. Consequence of the current economic gloom, it may well issue a warning on its results in the publication of its accounts for the period April to September under November 9, said BFM Business on Tuesday. Now he hoped to bounce back after suffering a net loss of 197 million euros over the period April to June 2011.In the wake of a meeting with management, a union then estimated at Figaro that "if growth was not at the meeting, a plan for removal on 5000 to 10,000 jobs would be to fear cash advance now."

Undermined by these uncertainties and the lack of clear prospects, Pierre-Henri Gourgeon was forced to resign last week. The directors then indicated that "he was committed to stop the evolution towards a concrete structure group Air France-KLM, to focus on recovery required the two companies." Again in control group, Jean-Cyril Spinetta immediately set the tone by giving the task to Alexander Juniac new CEO of the group, "to respond to the emergence of new competitors, particularly low cost."

Still, this strategy could exacerbate climate distrust between labor and management.

Nathalie Kosciusko-Morizet (Minister of Ecology), Philippe Marini (UMP President of the Senate Finance Committee), Thierry Mariani (Minister of Transport), Bruno Le Maire (Agriculture Minister), Maurice Leroy (Minister of the City) and Gerard Longuet (Defence Minister) commented on yesterday's warning from Moody's to France pay day loan lenders.

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Reassurance. Forty-eight hours after the announcement of an orderly dismantling of Dexia, the watchword is always the same. Reassure savers first. This is one for this purpose that the Belgian and French immediately announced they were giving their guarantee loans that the bank will carry on the markets. In Belgium, where Dexia has set up shop through its retail bank, investors have withdrawn, Tuesday, 300 million euros in their accounts, according to local media. Movement still moderate – Dexia is sitting on 88 billion of deposits – but pushing the government to act. The Prime Minister, Yves Leterme, a planned Wednesday nationalization of Belgian bank Dexia activities.

Fitch Monitoring

Then reassure markets about the solvency of the future together. This is the second role of the Belgian and French guarantees granted to the bank.They will enable Dexia, reduced its operating subsidiaries, to refinance its huge bond portfolio until no commitments. Fitch Ratings has nevertheless expressed its skepticism by placing Wednesday under review with negative implications for sustainability of the note Dexia.

Finally, reassure local communities payday loans. They expressed concern, saying that in France they would lack 1-2000000000 funding by the end of the year. However, the pattern of the new local bank – fiercely negotiated by Philippe Wahl (La Banque Postale), Pierre Mariani (Dexia), Jean-Dominique Comolli (EPA) and Antoine Gosset-Grainville (CDC) – "guarantees them instead continuity in their funding, "says one expert."We are working on a solid solution, structured," assured yesterday the Minister of Economy, Baroin.

The structure of this new bank is complex. A first entity, which will provide loans to communities, will be majority-owned by La Banque Postale. Behind, another entity, refinancing this time will be majority-owned by Caisse des Depots. It is this which will take Dexma (Dexia Municipal Agency) and its loan portfolio of over 70 billion. In negotiation, it was expected that guarantee Dexia loans risky. And as a guarantee of Dexia is not worth much today is the state-guarantee against these assets. Post convened last night a special board to validate this scheme, which should be presented in the coming days.

Pascal de Izaguirre, the new head of Nouvelles Frontieres, warned this summer that is socially necessary to revive the group, losing ground. Reportedly, the plan would cover about 400 positions. It should start in early 2012 and early departures would occur next summer.

On Thursday, during an extraordinary works council, which lasted all day, Pascal de Izaguirre had planned to give details of the plan. He did not last. "The topic of the day was the proposed merger and any socially impossible before, says Le Figaro Jorge Partida, secretary of the EC and member of the FOR trade union, a majority. Pascal de Izaguirre wanted to give a figure for job cuts. At our request, he did not mention it.It was not on the agenda, we told him to observe the melting process. "

The plan is part of a drastic turnaround strategy Nouvelles Frontieres, which should acknowledge this year the heaviest operating loss in its history. To restore the finances of the company, Pascal de Izaguirre upsets ever habits by bringing together under one roof all brands (New Frontiers, Marmara, Tourinter and adventurer), without removing either. By doing this, this former Air France, arrived first at the head of Corsairfly before returning in May orders for the whole group, wants to end the spirit of competition that may exist between Marmara and New Frontiers, and save money.

'Strategic mistakes

The new entity will be called TUI Travel France and centered around a renewed organization, lighter and cross."The project" Convergence "is by no means a project of standardization or standardization of offerings," insists Pascal de Izaguirre.

By grouping the teams, Pascal de Izaguirre wants to impose more rigorous management, and revive the "spirit of conquest", which had the reputation of New Frontiers. "This plan is the fourth since the early 2000s and the takeover by the German group Preussag, held at the time by Jacques Maillot, said Jean Serrat, a former captain in Corsairfly and former secretary of the EC until 2006. The previous plans were not enough to boost sales momentum because there were strategic errors (in the diversification of products, distribution …). For the first time, brings together teams of Marmara and New Frontiers.This is finally going in the direction of a cost rationalization was inevitable. "

Pascal de Izaguirre wants to go fast. The implementation of the new operational structure of the company is scheduled for early 2012. He has no choice. In recent years, New Frontiers has lost market share that will be difficult to regain. Increasingly, too, is necessary in Internet travel sales, with the arrival of new competitors, starting with Google, which promises to shake up the industry with a brand new search engine for airline tickets.

Also new, the consumer, always on the lookout for bargains, it also has a growing tendency to move from one tour operator.

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Alain Minc is an essayist and near the head of state.

LE FIGARO – The government Wednesday presented a series of measures to reduce the deficit. Austerity, winning all countries, no risk does not reduce growth?

Alain Minc – No, because we are in a new paradigm. The French were the first more concerned with issues of debt through employment. With the power budget, we can rebuild the confidence of economic agents: households are encouraged to thaw out their savings and consumption, business investment. It is manufactured and growth. Submit a budget that would encourage lax instead to save more and thus consume less.The triptych in a world crushed by the weight of the markets is, under budget, trust, growth.

What steps should be taken virtuous?

Personally, I hope a large extent: the 27 EU countries simultaneously increasing their two-point VAT rate. It would be readily absorbed and deficits would be reduced immediately. But it's not for today. Apart from that, we need to focus on controlling government spending. There is still some leeway in this area. But that will not help if we do not address local government spending. It will also examine the non-controlled welfare state, in other words, take action politically and technically difficult to better control health expenditure.This last point requires a long process.

How?

The government is against the wall on its forecast deficit of 4.6% of GDP in 2012, and will do anything to achieve it. But with regard to the defense of the AAA, it was France as a whole is forced to cope. This note is a "national treasure" co-owned by all the French. You need to have well aware that nine months of the presidential elections, the statements of the two main governing parties in France, right and left, are scrutinized by credit rating agencies. The left would be as responsible as the right to lower the note in the coming months if she is economically unsuitable proposals during the campaign.

But the "golden rule" will not be passed.

No, because the Socialist Party opposes it.It is very unfortunate: it is important to give the Constitutional Council the power to censor a budget law does not respect their commitments. The Socialists had better vote to commit to the "golden rule" by requiring counterparties to the government. This would have given them a "chastity belt" in case they win the election.

Are you in favor of a tax on high salaries?

There is a problem obviously symbolic. It is of course legitimate, in the present context, it takes effort – exceptional – the rich. This should take the path of a direct tax levied on high income of around 0.5% above 150,000 euros, rising to 4 or 5% over one million euros for example.But beyond a fiscal contribution, I regret that senior executives have increased their earnings in recent years and today signed manifestos calling for a higher taxation of high income! Their real responsibility is not to engage in excesses of the social contract of their own business. Also, I think we need to align the taxation of capital on that work payday loan lenders. It is not normal for the first shows a gap of 16% with the second (PIT + CSG).

The debt crisis in Europe is cause for concern?

Yes, more worrisome than the upheavals stock as a debt crisis can block overnight access to a State for financial markets and freezing its banking system. However, the ECB has a tool box to avoid it. By the way, we must remember that we are facing a debt crisis, not a euro crisis.I do not know what the crisis of an overvalued currency by 20%, as is the euro against the dollar. Objectively, fears about the financial strength of big countries (Italy, Spain) in the euro area do not make sense.

Yet fears about their health are strong cyclical.

Spasms current will of course impact on growth. Everything will depend on the duration of shocks and jolts coming. This impact could be on the order of 1% of global GDP. That said, we are in a situation radically different from the 2009 recession. You can not compare the balance sheets of banks in September 2008 to today, undoubtedly the best. Three years ago, they were packed with toxic assets.Today, traders are concerned to see them hold treasury Italian! You have to be stupid to believe that the right of a State such as Italy, able to tax a very large domestic savings, are as dangerous as subprime. Italy will never default because if Italy jumps, Germany, which is one of its major suppliers, and jumps as the global economy collapses. This will not take place.

Banks, especially French, you seem so strong enough to weather the storm?

Of course. The markets speculate on Societe Generale, thinking she might suffer from a default of Italy or Spain.But if these two countries are lacking, all banks in the world will fail: it would be blind to believe that a single major bank like Societe Generale, can fall without all its competitors plunge with it! That's why the world will never let down Italy and Spain. By the way, I do not understand the attitude of major European banks, which in times of crisis cut their credit lines to their colleagues believed to be the most fragile. The banks are all connected to each other and should instead show their solidarity.

Rating agencies are they guilty of the current situation?

The big banks and investors are primarily responsible for the weight gained by the three major rating agencies in the world.These financial institutions, for reasons of economy, have removed their analytical services, de facto subcontractor that activity for credit rating agencies. Basically, the only real complaint that can be sent to these agencies is that they do not know the note states – who do not notice as a business. Judge the soundness of a country requires a great culture of the local economic history. For example, the agencies never take into account the weight of the informal economy. But in a country like Italy for example, this economy is from 25 to 30% of GDP, which changes considerably the situation in terms of credit analysis. As the United States, they are the backbone of the global financial system. As such, they are above any notes!

All weekend, they multiplied the meetings and news: the political leaders of industrialized countries have mobilized to show that they had taken stock of efforts to engage to address concerns about the state of their finances. What to try to reassure markets, worried after the announcement Friday after the close of a deterioration in the rating of sovereign debt of the United States by Standard & Poor's, but also disturbed by the difficulties faced by countries the euro area to implement the solutions to the crisis in Greece. With always in sight the risk of contagion of debt to other countries.

In the wake of the Asian stock markets, down sharply this morning, the benchmark index in Paris has started his week on a further decline (-0.74%), but avoid the stock market crash feared its markets.After a brief stint in the green, but he digs his losses at midday, yielding 1.53% at midday, to 3228.29 points. Certainly, markets have heard statements of intent to both sides of the Atlantic, the austerity measures to consolidate public finances in industrialized countries. Nevertheless, the nervousness and volatility are the watchwords of the meeting. Evidenced by the yo-yo in the Paris index since the beginning and the very high trading volumes of 3.3 billion euros, three hours after opening.

Yesterday, Angela Merkel and Nicolas Sarkozy reiterated their determination to ensure that the bailout of Greece on 21 July be adopted before the end of September. They also praised the efforts of Spain and especially those of Italy, two weak links in the euro area at present.Indeed, Rome has advanced by one year (from 2014 to 2013) the goal of return to balance its accounts. In addition, the European Central Bank (ECB) said it would implement "active" its buyback program obligations. This measure, taken and announced last week by Jean-Claude Trichet, president of the institution, had absolutely convinced investors. On the contrary …

Relaxation rates in Spain and Italy

This does not seem to be the case this morning. The ECB did not specify to which countries would focus the bond buyback program, but rates in ten years Spanish and Italian relaxed strongly on Monday in the bond market, passing under 6%.Relaxation is expected to continue, while the French Minister of Economy and Finance has confirmed Baroin on Europe 1 that the ECB was ready to buy the Spanish and European debt, if investors withdrew.

Elsewhere in Europe, the trend is more positive than the stock market crash feared by investors. In Frankfurt, the Dax, however, declined 2.24% to 6096.62 points. Less for London where the FTSE 100 lost 1.50% to 5168.33 points. In Madrid, the Ibex 35 index 0.38% wins at noon, at 8704 points. Finally, Milan were down 0.55% to 15,928, 49 points.

Next on the list?

However, uncertainty should remain in force on the European markets at the beginning of the week. The decision of Standard & Poor's in the United States continues to claim haunt the minds of the markets, despite a weekend to "digest" the news.Now that the world's largest economy, long considered one of the most reliable borrowers, is not as well marked, which could consider itself safe from degradation? In France, this concern should be limited, however, the chief economist for Europe, Standard & Poor's Jean-Michel Six, who said Saturday that the agency maintained the "AAA" of France, in a stable outlook payday loan.

Before testing the first effects on the markets of this political mobilization, the announcement of the ECB on repurchase of bonds has already led to support the euro against the dollar. At 7 o'clock this morning, the euro was worth 1.4321 dollars, against 1.4281 dollars on Friday night, after the dollar rose to 1.4370 on Sunday night.But above all concerns macroeconomic benefit to gold, which recorded a new record Monday on the market in Hong Kong, dying for the first time the maximum 1700 dollars an ounce, and benefiting fully from his safe haven status.

The sharp drop in oil

Instead, the side of the oil, oil prices continued to tumble on Monday. Result of numerous concerns about a possible global recession, prices show a sharp decline. In morning trading in Asia, a barrel of "light sweet crude" lost 2.59 dollars to 84.29 dollars, while that of Brent North Sea crude for September delivery fell by 2.48 dollars to 106.89 dollars.

Finally, the political mobilization should remain in force throughout the day, and guide the trend in European markets as U.S.. For the side of the macroeconomic data, the news will remain low in the first day of the week.Unlike last week, no statistics across the Atlantic will not give further details Monday about the health of the U.S. economy or the risk of a possible recession in the country. In France alone were expected business surveys of the Banque de France, unveiled on Monday its growth forecast for the third quarter. For the period, the institution expects an increase of 0.2% of French GDP, the same pace as in the previous quarter.

As for values ​​to follow, business publications are scarce this week.

Battered last week after interim results affected by exposure in Greece, banking stocks offered a nice rally this morning and take the lead increases the Cac 40.BNP Paribas (5.47% to 42.83 euros), followed closely by Credit Agricole (+ 5.01% to 7.51 euros) and Societe Generale (4.83% to 28.76 euros). For its part, Axa wins 3.81%, to 11.99 euros. The entire financial sector benefits from the relief this morning, the insurer CNP Assurances taking his side 3.91%, to 12.37 euros. Outside the CAC 40, ahead of Dexia 5.26% to 1.7 euro.

The manufacturer Archos tablet that will detail its annual accounts after market, has already won 4.77% to 8.35 euros.

Carmat (12.80% to 105.47 euros). The total artificial heart specialist said on Sunday evening the success of its capital increase launched from July 13 to 29. The former subsidiary of EADS has raised 29.3 million euros, which will fund the first clinical trials on humans.

GDF Suez (2.74% to 20.97 euros).The group of energy and services has sealed, according to Les Echos, a strategic Partenaris with the Chinese sovereign wealth fund CIC, which would lead to an acquisition of a 30% interest in the exploration and production arm of French.

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