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This will be the event of Dubai Airshow, which opens tomorrow for four days. Quest Helicopter, a subsidiary of Quest émiratien Fund Invest today to unveil a draft civil helicopter. The machine whose code-named "Project Q" will be developed from a Ukrainian technology and also mobilize resources and émiratienne British engineering. It will be assembled in the United Arab Emirates (UAE). And ensure its promoters, it will meet the certification standards European émiratiens and Ukrainian. Quest Helicopter promises commissioning end of 2013.

"Project Q" is the first program launched by the UAE aviation, and more generally by an Arab country. For many exhibitors Western the 2011 Dubai Airshow marks the transition to a "new era" in the region.After the bursting of the housing bubble in Dubai and the flurry of Arab spring, everything changed guaranteed payday loans. "There is a return to a certain wisdom in the investment and the need to prepare the post-oil by industrializing the country," developing a good knowledge of the Middle East. In the region, Abu Dhabi plays a locomotive. The capital of the UAE Goes technologies and among them, aerospace. The plane remains a powerful symbol and a tool for sovereignty.

For now, the country's aviation ambition focuses on helicopters and subcontracting. "Their goal is to become supplier of the forefront of major aircraft manufacturers, not a competitor," says one expert. To this end, Mubadala, the sovereign wealth fund in the UAE, has signed a worldwide partnership agreement with EADS in 2008 in the wake of an order for Etihad Airways, Abu Dhabi Company for 55 Airbus.

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Danone has published a quarterly revenue in line with expectations. At first, in the absence of good surprise, the valuation of Danone can call. The title pays more than 14 times earnings expected for 2012, while the CAC 40 builds about 8.2 times the estimated profit for 2012. "This is justified from the point where Danone is growing higher than the overall economy. The group offers products with high added value for the elderly and babies. It is well positioned in emerging markets, "says one fund manager.

We must also put into perspective the value of Danone with that of Nestlé. The Swiss giant capitalizes 15.6 times the expected result next year. The market welcomed by the superb performance in all segments, including the brilliant success of Nespresso, the subsidiary that specializes in luxury coffee.

Danone is perceived by the market as a growth and not as a "value", not valued due to lack of development prospects no fax pay day loans. The situation of Danone in terms of profitability is satisfactory. Operating margin exceeded 14% after the first half. Better still, it exceeds 20% in Asia.

Possible sale of the water industry

Still, Danone must win the market with new projects. In recent years, Danone has refocused on the markets of healthy nutrition and health. The group is poised to sell its water sector, reports Bloomberg. It is in talks with the Japanese Suntory. The water industry is about 17% of sales of Danone. Growth and profitability are slightly lower than the other branches of the group.Meanwhile, Danone could strengthen its nutrition industry with an acquisition.

In any case, it will not be possible to create value with a takeover bid. When Danone had been rumors of takeover by Pepsi, leaders such as politicians had split from a multitude of arguments, economic patriotism.

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"Good quarter for Danone

On May 15 the "outraged" Spaniards camped in the square of Puerta del Sol in Madrid. Borrowing their name to the pamphlet by Stephen Hessel, they said they were inspired by the Arab Spring to shout their rebellion against the explosion of unemployment and austerity policies implemented by the government … Since then, the challenge has been extended in the rest of Europe but also overseas. Five months after the birth of the movement in Spain, in 82 countries is that these "outraged" will show this Saturday, October 15. Zurich to New York, to Rome, Tijuana, Hong Kong and Johannesburg, calls have been launched in 951 cities worldwide.

Their message to politicians and financial elites, as can be read on the site 15october, is: "The powers that be working for the benefit of some ignoring both the will of the majority that the price human and environmental we pay. This intolerable situation has to stop. "On the site of the movement Occupy Wall Street, the tone is the same:" The thing we all have in common is that we are the 99% who will not tolerate any longer the greed and the corruption of the remaining 1%. "In Italy, the program is summarized as follows: "Occupation of public places by millions of people who do not want to pay the enormous economic and social crisis in the place of those who have caused: political power industrial, economic and financial" .

No central authority

This day of action is to cross an important milestone in the movement, which now acquires an international dimension. "It was needed to make weight against the power of financial markets that operate on a global scale," says Sophie Banasiak, "indignant" Paris.

However, there is no central body to coordinate the different actions. "If the collective Democracia Real Ya played a leading role in the initial mobilization in Spain, he does not prevail, either in the capital of the country or world, Heloise said Nez, a sociologist at the University Paris 13.Many groups are working together, but none have hegemony over the movement horizontal and egalitarian aims. There is no visible head and outraged caregivers to regularly change the voice. "

"If someone asks you 'who is behind it', they reply: 'I'" retorted on those who seek the organizers. The spread of a city or country to another must be spontaneous, for emulation. A process greatly facilitated by social networks, where multiple keywords are emerging, such as "yeswecamp", "# yosoy15O", "# event15oct" or "# Globalrevolution" … "I do not even know exactly who launched the idea of ​​the October 15, recognizes Spyros, OccupyLSX supporter of the movement in London.We have seen that call for Saturday and it was inspired by the movement Occupy wall street to do the same thing here. "

Specific demands of each country

If dissatisfied with the world found common denominators, claims and complaints are divided again according to national issues. In Spain, Real Democracia Ya accent has been on the reform of the electoral law to end the two-party system as well as stopping the evictions of indebted owners. In Anglo-Saxon countries, it is mainly finance, pointed as responsible for the crisis, which is targeted. Witness the names of the movements that develop, "Occupy Wall Street" and "Occupy London Stock Exchange (OccupyLSX)." In Israel, the mobilization is the expensive housing while in Italy, the outraged refuse to pay "a debt they have incurred."But all these central issues do not prevent each protester to express other concerns. In Spain some point impunity surrounding crimes of Francoism and the United States is denounced police brutality or the death penalty …

Above all, each city retains its autonomy: information flows globally, but "decisions, they, are taken at meetings in every city, Banasiak said Sophie. Each city chooses its own way of decision. In Paris and Madrid for example, is the consensus. The international dimension does not change the fact that the essence of the movement is local: it is in the physical encounter and dialogue in the streets. "

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"IN PICTURES – These celebrities who endorse the anti-Wall Street

Retirement: an age variable geometry

"We will not retire at age 60 as we passed in 1982," Manuel Valls Assen. "Nobody says that," irritated Martine Aubry. Yet behind the totem of 60 years Wednesday by waving the primary contenders, hiding the reality quite different. François Hollande only accepts the retirement at that age for those who already have all their quarters. And he sees this as an intermediate stage before a vast overhaul of the system. Manuel Valls as Jean-Michel Baylet also advocate to review everything but are more specific about their goal: a point system, "as in Sweden," says first, "a la carte," added the second.

This would eliminate the problem of legal age, everyone is free to stop work when he wants, even if just a small pension.Ségolène Royal promises, in turn, "the return to retirement at age 60, without any discount for those who have their useful contribution." Martine Aubry appear on the same line … which is precisely to return to 60 years as 1982, a slight difference: the contribution period required for a full pension will be more than 37.5 years. "When life expectancy increases, we must extend the contribution period," admits François Hollande. Well, this time, a point that is the consensus among the suitors, and who endorse the principle set by the Fillon reform of 2003.Holland and Valls even explicitly mention the term adopted in July by the government (41.5 years for 1955 and subsequent generations) in the jeers of the left.

Occupation: differences in hiring to firing

Martine Aubry does not believe in "contracts of generation" François Hollande (if exemption from the hiring of a youth while maintaining a senior in the workforce). In addition to cost 8 billion a year, it anticipates a "windfall" of companies. Ségolène Royal stigmatizes a new "social niche". As for the jobs of the future of Martine Aubry and Arnaud Montebourg, Manuel Valls speaks of an "ineffective measure" that will not allow young people to enter high quality business cards.While Segolene Royal wants to "put into law a ban on layoffs stock" and those "motivated by profitability alone," Martine Aubry wants to allow unions to "seize the court to appoint an interim administrator." François Hollande, he suggests increasing "financial sanctions" to fight against unfair dismissal.

Education: recruit or not?

The proposed François Hollande to create 60,000 jobs in Education in the five years, approved by Arnaud Montebourg, gives rise to a lively exchange with Martine Aubry. "It costs how much?" Quote the mayor of Lille. "2.5 billion euros," says the member for Corrèze. "I wanted to make sure that François Hollande, after proposing not to repeal the budget of Education, now wanted to increase by 2.5 billion euros," continues Aubry.

This in turn will "upgrade the salaries of teachers," "hire psychologists and doctors." Ségolène Royal has a different, for its part, the cost of hiring intended by Holland: "7 billion over five years since 500 million, they must pay every year and they are cumulative. " The president of Poitou-Charentes said that unions "are aware of the financial and budgetary difficulties of the country, and do not require a commitment as strong as this." It calls for "multi-annual programming as needed."

Medical deserts: the incentive constraint

Two camps are emerging. On the one hand, those who want to force young doctors to practice, at least for a few years in deficit areas: Montebourg, Aubry.On the other, those who believe that it will not work and prefer to stick to incentives: Valls, Baylet, Holland – even if it is ready to ban the facilities in the densest areas in doctors. Royal does not choose between two options, but imagine the "clinics with salaried physicians" in the suburbs or countryside.

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"Attracting future medical practitioners to the deserts

The horizon of the global economy darkens. The European Central Bank (ECB) has lowered on Thursday its growth forecasts for 2011 and 2012, warning that the level of uncertainty is extremely high. The guardian of the euro expected to grow 1.6% in 2011 and 1.3% in 2012 in the euro area, against 1.9% and 1.7% previously forecast.

"Uncertainty" was in this context, the key word of the monthly press conference of ECB President Jean-Claude Trichet: "There is a huge level of uncertainty in the world." The risk is now the forecasts rather than the ECB may be too optimistic, he implied. And, because of the negative effects of the crisis in financial markets observed this summer and the debt crisis in the euro zone in particular.

After a good start to the year, growth "will be very moderate later this year," warned the president of the ECB. Consumption may be lacking. "Unlike recent months, the ECB no longer considered as the confidence of consumers and entrepreneurs will support domestic demand," says Ken Wattret, chief euro zone economist at BNP Paribas. In the early morning, the Bank of France has published growth prospects for the Hexagon journals also down for the third quarter (0.1% versus 0.2% previously).

For inflation, the ECB has not touched its projections. It still expects 2.6% price increase in 2011 and 1.7% in 2012. As the guarantor of price stability in the euro zone estimated a few months ago that inflation was under pressure, it recognized that today the risks were "balanced."A code word meaning that it did not expect an acceleration in prices in coming months. It therefore left unchanged its interest rates, it increases instruments when it believes that inflation is accelerating payday loans lenders.

Despite the alarmist tone about the economic environment, "we do not think that the ECB will lower interest rates anytime soon," said Cedric Thellier, economist at Natixis. "We expect a rather long status quo accompanying amorphous growth and low inflation."

The rush of blood against the United States of Trichet

Questioned by a reporter relaying German criticism against the alleged lack of independence of the ECB under the European Treaties, Jean-Claude Trichet has lost some of his cool. "We're doing our job, which is not easy," he said."Our mission is to ensure price stability, what we have done so impeccable. I'd love to hear praise for the work today! "He exclaimed.

Some German observers, very attached to monetary orthodoxy, condemned the purchase of bonds by the ECB. "If we had to implement this program, because states have not acted properly. He did not exercise sufficient oversight they should have. Remember, in 2004 and 2005, some governments-France, Germany and Italy, not to name-calling for the relaxation of their obligations "deficit, he accused. "We have always asked the contrary full compliance criteria deficit.But we have not preached in the desert. "

In this context, Jean-Claude Trichet reiterated, on behalf of the ECB, the extreme urgency for the States to implement measures to restore the balance of public finances. "Governments must be prepared to cut spending if targets are not met," he said. He also called for the deregulation of regulated professions.

The CAC 40 is risky there twice this month. He was immediately returned. The threshold of 3000 points, as seen on the Paris market was down on Thursday 11 and Friday, August 19. On Monday morning, the Paris index recurred, opening down 0.85% to 2989.60 points. But again, it started to rise immediately after slipping below 3000, and closed on Monday evening at 3051.36 points (1.14%), having flown over 3100 points During the session this afternoon.

The level of 3000 points may well not be a technical threshold (it does not automatically trigger a sell order or purchase), it still plays a role of "support" on which the market arises before rebounding .Daniel Gravier, Head of Sales Trading at XTB France, believes that "this psychological level is transcribed in the courts and thus returns to a technical threshold."

The cross downward psychological sounded an alarm in markets which do not have a habit of getting carried away by their feelings. Professional traders define their purpose of orders passages through complex mathematical calculations, generated by high-powered software that constantly scan the share price indices, securities, commodities and all that is listed in order to predict the best time to invest or sell. And to build the software, the banks are recruiting the cream of engineers. But in this world of numbers, there is also a psychological dimension.So, see the CAC 40 fell below 3,000 points spurred the market to recover.

"This is a symbolic level, for its part says Harry Sebag, an analyst at Saxo Bank. In times of great nervousness, while visibility is poor, investors cling to benchmarks in the short term payday loans. It's an excuse to reposition itself for purchase. This morning, we felt that the markets began to rebound because the shares had suffered a significant discount. " And hope for regime change in Libya was a good news for oil companies operating in the country, making a breath of excitement to the Paris Bourse.

"Safeguards" but also to accelerate the panic

"These thresholds are safeguards on which the market rebounds," says Harry Sebag. But the psychological effects of contracts may jégalement ouer a role accelerator panic attacks.The violent stalls indices observed recently on global stock markets have shown. In Paris the CAC 40 fell by 32.4% since July 1, affected by short-term concerns (the debt crisis in the euro zone, bad macroeconomic indicators in the U.S. and deteriorating debt rating for American Standard & Poor's), but not only. "In late July, the market downturn downward was rational, said Jean-Louis Mourier, an analyst at Aurel BCG. However, the extent of movement and the high volatility experienced by markets in recent days show an overreaction. "

The index in Paris he could sink even lower? The scenario is possible if the disappointing macroeconomic indicators continue to grow and corporate earnings in the third quarter does not reassure investors, said Harry Sebag.Saxo Bank analyst would watch while the threshold indicated by the software, around 2850 points or even 2500 points. "But I hope we will not get to that," he adds.

Fifty-two euros to pay for a Paris-Bordeaux, 10.30 euros for connecting Lyon to Chambery, 87 km. At the time of taking the road to return from holiday, motorists have difficulty digesting the prices of French motorways. They do not understand either why the toll rates rose by an average of 2.24% in February last, while inflation rose only 1.5% in 2010.

These prices are even more crowded than the major networks (ASF, Escota, Cofiroute, APRR, Area, Sanef, AWS …) belonging to the majors in construction (Vinci, Eiffage, Abertis), making profits accumulated very comfortable : 1.5 billion euros, for a total turnover of 9 billion last year.Jean Mesqui, the managing director of ASFA (Association of French Motorway Companies), categorically denies any suspicion of wealth on the backs of motorists, "These results are used primarily to repay the debt incurred by the operators 2005 to redeem these networks to the state 15.4 billion, "says he.

No doubt. But the disparities in prices recorded on motorways for journeys have a way similar to annoy motorists. According to the latest issue of 60 million consumers, a trip from Paris to Nantes so expensive (more than 33 euros) a Paris-Toulouse, 300 km with less. Again, Jean Mesqui disclaims any liability for motorway concession. "These disparities existed in the privatization in 2005, he argues. The state says he does everything for convergence rates.But it will take twenty years. "

Another black tariffs on recent highway. On the A65, which links Bordeaux to Pau, which opened in December 2010, the kilometer is equivalent to 11 cents, against 7 cents on the A1 between Paris and Lille payday loans. Inflation this time due to … Europe. Since 1998, Brussels forbids dealers to finance new highways by their former networks already amortized. So they compensate by setting toll rates higher.

There is still a sore subject: the "expansion", a practice that is to massively increase tolls on the busiest sections and moderate increases on routes less traveled. Starting this year, the administration banned dealers to engage in that game"But she did not return what had been established earlier, said Daniel Discalced, Chairman of the Committee infrastructure and mobility of the association of 40 million motorists. Suddenly, a Paris-Le Mans motorway is much more expensive if we make the journey directly if you come out several times to enter the highway a few miles away. "

The toll is sometimes used to 'green' network

Moreover, the commitments of the "green package" to make more environmentally friendly highways, leaving a more skeptical. For a one-year extension of their concessions, companies that belong to Vinci (ASF, Cofiroute, Escota) and those of Abertis (Sanef, AWS) have agreed to invest one billion to green their networks.But on closer inspection, two thirds of the work initiated in this context concern the implementation of electronic toll.

Barriers that prevent good to stop reducing pollution, but they also allow operators to cut jobs to tolls and sell badges needed to benefit from these facilities. This example confirms that the motorway companies are there to make money. But is it really a surprise and a bad thing for private groups?

Solidarity … under certain conditions. Nicolas Sarkozy and Angela Merkel have called on the table a proposal to increase pressure on countries in the euro area would not make enough effort to balance their finances. Structural funds, the grant made by the European Union (EU) regions, would be suspended to encourage States to comply with the "golden rule" budget.

"Payments from the Structural and Cohesion Funds should be suspended in the countries of the euro area that do not comply with the recommendations of the excessive deficit procedure", suggests the president of the French Republic and the German Chancellor in a letter Communication to the European Council President Herman Van Rompuy.

All states of the European Union benefit from the funds created in the 1990s.The three main funds (European Regional Development Fund, European Social Fund and Cohesion Fund) are paid to countries that request it. Any region whose gross domestic product is less than 75% of the EU average receives these subsidies with the aim to help them develop.

Thus, 49 billion are paid each year as part of regional policy for 2007-2013 fast cash loans. In total, 347 billion euros, or 35.7% of the total budget of the European Union, which are allocated to regional aid policy.

20.4 billion for Greece, 21.5 billion for Portugal

To critics of these funds, the aid is ineffective: among the first beneficiaries are precisely the most indebted countries in the euro area.For 2007-2013, Portugal and must receive 21.5 billion euros from structural funds and cohesion, Greece 20.4 billion, Italy and Ireland 28.8 billion 901 million.

By transforming this aid as an instrument of pressure to encourage States to more fiscal discipline, the EU could further depress the areas most in need. But the idea is gaining ground as European leaders explore all the ways out of the euro zone debt crisis.

The idea is not new, and Germany is also one of the strongest promoters. The proposal in that the Franco-German duo at the end of the meeting Tuesday she will succeed in finding support among other member countries? The Dutch Prime Minister Mark Rutte has also expressed Tuesday in favor of these sanctions.

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Washing machines, refrigerators, ovens … all the brand Thomson. This is not a museum of the appliance, but a comeback. After production ceased in 2005 Thomson devices, FagorBrandt, the owner, decided to restart it, only on the Net.

An original in more ways than one. This is the first time a group of electrical devices sold directly to the public. Other brands are marketed on the Internet, but always through distributors, specialists or not selling online. Manufacturers usually just sell parts on their website.Not Thomson.

"Given the strong growth in sales of appliances on the Internet, representing about 15% of 800 million euros of turnover generated by large appliances, we decided to use the mark Thomson to sell products through our own site, www.thomson-electromenager.fr, "said Pierre Bondoux, head of e-commerce FagorBrandt.

In one year, online sales of home appliances rose 36% in France. In addition, choosing to launch a brand 100% Internet, the group does not compete with traditional distribution directly, which markets the group's other brands (Fagor, Brandt, Sauter, entry …). Unlike Thomson, owned by the Spanish cooperative since the 1990s, when the activities of Thomson appliances were separated from the pole and arms-mail was not delivered for nearly six years.Finally, by boosting Thomson, FagorBrandt enjoys the sympathy of the brand equity with consumers guaranteed approval cash advance loans.

French manufacturing

Now, 80% of one hundred and twenty references now marketed under the brand Thomson is produced in one of four French factories of the group. "We have participated in the development of the label" Guaranteed Origin France "and will begin to communicate on this topic on our products," said Pierre Bondoux. An additional asset for Thomson, who decided not to price its main selling point. "Manufacturers are investing more and more to innovate. But on the Internet, only the price argument is put forward, "says Pierre Bondoux.

Over the months, Thomson should put online datasheets of increasingly sophisticated, real sales pitches. There is also a service technician "home", true brand specialists."And we deliver at home, made by two persons to the floor in the installation room, with resumption of old equipment and packaging," said Pierre Bondoux. By September, the facility will also be an option. A real difference to benefit from certain sites, which sometimes simply drop the parcels on the sidewalk.

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"Battle of innovations in home appliances

"The appliance defends the reliability of its products

The employment contract is signed between Christine Lagarde and the International Monetary Fund. The new CEO of the institution will, in the words of the document published today, an annual salary of 467,940 dollars (323,257 euros). It will benefit in addition to 83,760 dollars per year (57,829 euros) for participation in expenses. In total, the director will receive 551,700 dollars (380,989 euros) a year, a net amount of taxes on income.

The remuneration of Christine Lagarde was up 1.1% compared with that of Dominique Strauss-Kahn as stated in the contract signed in 2007 when he took office. A parallel increase in inflation over the past four years. The price index for the Washington area, which serves as reference for the calculation of wages to the IMF, has in fact increased by 1.1% between May 2007 and May 2011.The remuneration of Christine Lagarde will be indexed to inflation, the IMF said, and adjusted each July 1.

In addition, like its predecessor, at the cost of business travel by Christine Lagarde will be paid by the IMF. With a change at the margin, however: even if not married Christine Lagarde, his companion will also be covered by these reimbursements. The IMF said the word "spouse" of the partner. Christine Lagarde, in fact, lives in concubinage with Xavier Giocanti since 2006.

The IMF has mostly benefited from the inauguration of Christine Lagarde to strengthen the code of conduct of the Director of the IMF, from the document signed by Dominique Strauss-Kahn in 2007. It is now clear that the new director should "avoid even the appearance of improper conduct," a phrase that was not before.It will also, as now all members of the IMF, training in ethics-the very word was not included in the document of 2007. Another addition, the French will see banned from participating in any political meeting, although it may remain a member of a party if it so wishes.

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"Christine Lagarde became head of the IMF