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More than a month after the fiasco of the France team in South Africa, the French professional football is definitely getting worse. While professional football league (LFP) expected at worst to a deficit of 150 million euros, the National Monitoring Directorate Management (DNCG) has recently established its report on the finances of French professional clubs. And the finding is instructive: their accumulated loss stood at 180 million euros for the 2009-2010 season, including 140 million for the Ligue 1 clubs. Record. The precedent dating from the 2002-2003 season with a deficit of 167 million.

And yet, the French professional clubs we were accustomed to much better in recent years. "This deficit is due more to a sharp decline in revenue related to shipments by a sharp increase in spending that we had already seen last year," said Vincent warmShe expert sports Ineum Consulting.Today, the situation is simple, both for small than for large clubs: he must sell players first and then build his team. This is far from easy. Why?

Spanish and English clubs are more buyers

Their main "clients", English and Spanish clubs, bear the brunt of the economic crisis and could not like each year to buy the best French players. And unlike like the French clubs do not hesitate to buy great players, the calculation is done quickly. "This deficit is a matter of timing. French football is constantly lagging behind the economic cycle.The French clubs have spent much of last year through the renegotiation of TV contracts in 2006, and the establishment of the right to collective image (which exempts a portion of payroll taxes to pay athletes, can not exceed 30% of the total, Ed), whose clubs n (were really benefit in 2009, "said Vincent warmShe.

Although we are far from 800 million euros of debt the English club Chelsea in January erased by its Russian owner Roman Abramovich. But the fact that this ad is not necessarily good news when we know that UEFA is planning to launch its draft financial fair play in UEFA's two years at the initiative of … France. Thus, from the 2012-2013 season, clubs will no longer spend more than they earn.Again, the French clubs are not the worst placed in terms of expenditure, but in terms of income, they are far from being the first …

If one were to summarize the 2010 summer transfer window, we would call dull. Like any economic activity, football suffers from the crisis. Marseille and Lyon have already purchased a lot last year and Paris and Bordeaux have had a sporting season 2009-2010 more than complicated. Thus, the OM has bought Andre-Pierre Gignac and Loic Remy because they sold Mamadou Niang (at Turkish club Fenerbahce) and lent Hatem Ben Arfa (at English club Newcastle).

Aulas has made "a little fun"

What about Lyon? Until the "little pleasure" that became Jean-Michel Aulas, the Lyon president of purchasing Yoann Gourcuff for $ 22 million last Tuesday, the club Lyon had previously spent only 6 million euros with the former Rennes Jimmy Briand.Far from 82 million spent a year earlier. "Unlike the big Italian clubs, English or Spanish, French clubs can not afford a repeat of" such "transfer window several times. The DNCG requires them to control their spending. And when the crisis gets involved … "Says one expert.

Last year like this year, Lyon as Marseille have sold less and less purchased. But the fact remains the same: they have spent more than sold. The OL has purchased $ 28 million and sold for 3 million in summer 2010 transfer window (82 million against 45.5 million in the transfer window in 2009). For the OM, the losses amount to 13 million euros in the summer 2010 transfer window (about 23 million euros in the transfer window in 2009). For their part, had to sell Gourcuff Bordeaux to balance its accounts and finally Paris Saint Germain all the trouble to sell his "big bucks" to be able to buy a defender. The crisis affects everyone.Relatively speaking …

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What are the main principles of pension reform that will defend from 7 September to the National Assembly?

This reform is reasonable, fair, progressive and effective. It has three main points: a new age of retirement, taking into account the hardship for the first time in France, and a reconciliation between the public and private sectors. Increase to 62 the legal age of retirement is to hold an age of reason, drawing conclusions from the fact that we live longer. Simply increasing the contribution period was rather unreasonable: we should bring to 47 the contribution period to balance the system. By raising the bar to 62 years in 2018, we will remove the pension deficit at that date and until 2020.Afterwards he will talk again, this is normal.

Amendments will be tabled during the parliamentary debate to improve the consideration of the strain at work. What do they consist?

France is the first country to do so the link between pensions and arduous. In the current state of reform, an employee with a disability rating of 20% will retain the right to retire at age 60. I have long listened to the unions and specialists in this question. We need to look if you can better respond to situations of "arduous delayed effect ', that is to say, the case of employees who have had a very exhausting life, but are not medically verifiable when they are retiring. We are also looking at improving the prevention, because the first response to the hardship is to avoid being exposed.We must go further on this issue and improve the traceability of exposure to proven situations of difficulty. We are also considering the organization of occupational medicine for it plays a more important role in this field.

You're not afraid to create a new gas plant?

We will do everything to avoid it as too complex creates injustice. The common law, it will be 62 in 2018. Devices to keep the retirement age to 60 will be fair and operational. About 700,000 people retiring each year, 100,000 will retain the right to leave at 60 when our reform passed through the devices' hardship 'and' long careers.

Do you lower the threshold of 20% disability rate for the consideration of the hardship?

I think that this threshold is realistic.

And for polypensionnés, what do you do?

40% of employees who liquidate their retirement have contributed to several schemes. It is a question more complex than it seems. Some polypensionnés have interest to be because they have such validate more than four quarters per year. We are looking for greater consistency between pension plans, but we want to look at the issue from both sides: the losers of the current system, but also its winners.

When do you intend to publish these amendments?

Nothing is off but probably in the days following the opening of the debate at the meeting. Besides, by then I continue my consultations with Georges Tron.

Bernard Thibault began to worry that the debate on pensions is overshadowed by these cases. Do you see an attack against you?

No.I welcome the attitude of unions who have not howled with the wolves and do not participate in the hunt for the man I'm costs. Bernard Thibault do regret that the controversy overshadowed the debate on the merits of the reform. I think this results from the Socialist Party will do everything to avoid talking about a subject that divides them: the pensions.

Do you fear the mobilization of Sept. 7?

A significant reform, significant mobilization. But the French know that they live longer, it makes sense to share the extra time between work and retirement.

Are you afraid of being targeted by demonstrators on September 7?

That there are banners in my name or my image, I expect, since the opposition instrumentalist my name to caricature the debate on pensions.

Do you remain Minister of Labour after the pension reform or after the redesign?

I will do what the president wants me to do. But I feel very good in this department where I still have many projects to bear.

Which?

Once the pension law passed, we will undertake consultations on the reform of dependence. With Nora Berra we have made great progress on technical solutions but it is still too early to prejudge the financial terms of this reform. I intend, moreover, to resume with Nadine Morano the issue of inequality between men and women who did not sufficiently advanced, despite the many laws passed during the last fifteen years. I will also work on the topic of workplace violence. I have not forgotten the policy of the city.We need to support experiments in a pool of fifty jobs with Fadela Amara.

"Segolene Royal is poorly placed to give me a moral lesson"

Do you fear one day be referred to the Court of Justice of the Republic about the case Bettencourt?

I am very serene. I have nothing to reproach myself in this case, I am guilty of any conflict of interest and have already had occasion to explain in detail each of the charges which I have been .

Why then the Attorney General of the Court of Appeal considered there this solution?

I have not read that he was considering! He simply, if I understand correctly, responded to a letter which was sent. It examines the issues that are submitted before a decision is his role. I did not comment.However, I can only wonder at the letter sent by Corinne Lepage, who is a political process. I see that right now many are looking to be taking me as a scapegoat. But it's still a shame to receive lessons in morality from someone like her! What was her husband when she was Minister of the Environment? Do not he headed a law firm, specifically in the environment?

You speak of "stoning political" about you. Who are you targeting?

When I hear Ségolène Royal to denounce France 2 20 hours of the "billionaires of the UMP," I say we're living in delirium. The "billionaires UMP" as she says, have given a maximum of 7,500 euros, transparently, under control of the commission of the campaign accounts, in strict compliance with the rules of financing of political life.And at the same time, Ms. Royal is funded by Pierre Bergé. She was sentenced by the court for the conditions under which it has paid two former collaborators, is poorly placed to give me a moral lesson. I have nothing to reproach myself, and I am sure that the judicial process, whatever the judge, will prove it.

Aim to highlight you still not back so weakened that?

It seeks to weaken me! But I do not feel at all weakened. Throughout the summer there has been a little game of trying to prove so-called affairs on my municipal campaign, the sale of land at Compiegne … Every time, everything has deflated half a day. An accumulation of rumors and slander is not a truth. What sites are seeking to do business commercial on my back does not make me guilty.

Your absence from the meeting Brégançon around the head of state, last week, is it not a denial?

The meeting focused on fiscal deficits and budget preparation. I just remember that I am no longer Minister of Budget. Therefore my presence was not normal.

A new request for a hearing she will soon be presented to the Cabinet?

I have no idea. Again, all this, they are rumors spread by some newspapers or sites. I believe in freedom of the press, but I do not believe in freedom to slander.

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"We are confident in the future," says Olivier Piou, CEO of Gemalto, with BFM Radio, which recently released its results on Thursday for the first half of 2010. So much so that the specialist manufacturer of digital security and smart cards, SIM cards and electronic passports is a turnover of one billion euros in the second half. "The acquisitions made early nosu costs a little money, but we must continue to invest. We can because we are confident, "says CEO of Gemalto. Gemalto has "changed dimension. Now we're a start-up. When I arrived in the company, I do not think I'd still be in office with such a turnover, "he says.

"Lack of communication of the group"

A trust that does not necessarily share the financial markets.At 9:30, the action Gemalto shows a decrease of 4.28% to 28.19 euros in a market up 1.07%, the largest drop in the SRD. "This drop is excessive, an analyst who follows reacts value. The elements that have affected the first half performance was known. The discrepancy between results and expectations of the market indicates a lack of communication from the group. "

Gemalto in line with the consensus

However, the group released under the first-half turnover of 840 million euros, up 5% at current exchange rates. "We accelerated our offers have been very well received, because they correspond to a real need," said Olivier Piou. There is a real market potential of contactless payments, particularly in Africa and South Asia.In France, we are in trouble because we took too far ahead. "

The group's net profit amounted to 63 million euros, down 7.35% from a year earlier. "Today, the consensus of analysts is around 200 million euros profit the year is well within our range," says Olivier Piou. In 2009, the group posted a net profit of 148 million euros.

No new acquisitions

In addition, Gemalto first half operating profit down 15.2% to 67 million euros but he "remains in line with the company plan to increase its result in 2010," the group said in its statement. Gemalto is 300 million euros in income from operating activities in 2013.Of the three main activities of Gemalto, security has the highest increase (+21%) in the first half to 148.2 million euros (17.6% of sales) to the mobile phone (8%) to 451.7 million euros (53.8% of sales) and secure transactions (1%) to 207.4 million euros (24.7% of sales).

After several acquisitions, including the United States and Germany, the group does not provide new acquisitions. Olivier Piou said that Gemalto had to concentrate in the second half on the integration of recent operations.

The fall is twice larger than expected. Sales of existing homes in the United States have unscrewed from 27.2% in July compared to June, according to figures released Tuesday by the National Association of Realtors (NAR). A statistic which agrees with the economists providing a relapse of the U.S. economy.

Sales of existing properties and have hit a 15-year low in July. The June sales have they been revised downward to 5.26 million units, against 5.37 previously.

These figures are certainly worse than expected catastrophic but are not a total surprise. They indeed correspond to the decision of the tax credit established by the Federal Government to support sales. "Citizens are very rationally rushed on the market before the expiry of the measure in May," says Laurence Yun, chief economist of the NAR."Since that date, signature of contracts of sale were far less numerous. Expect a break until late September. "Other economists expect a further slide in sales volumes until 2011.

The links between Jean-Marie Messier at Vivendi Universal have gone through good years followed by years of settling scores. They all lead to the court. The group is a civil action against its former CEO and famous. And the court record is a dive in the early 2000s when the euphoria of the communications group was preceded by days of crisis just as intense.

Jean-Marie Messier, went on along with six other defendants should stand trial for dissemination of false or misleading information, market manipulation and abuse of corporate assets. The record comes on Wednesday before the Criminal Court of Paris was born after a complaint, eight years ago, the association of small shareholders assets. The former CEO of Vivendi Universal will mainly meet its financial communication.The inquest has cruelly deciphered the discussions behind the scenes with the song unscrewing the stock market. It is for example the defendants alleged to have, on the fiscal year 2000, largely under-estimated the debt of the media division.

The boss Featured

At that time, Jean-Marie Messier, who had relied heavily on telecommunications, including SFR, saw its short-term ambitions ruined by the financial crisis and the attacks of September 11, 2001. To fill gaps, the group's management had ordered the takeover market of over one billion euros of Vivendi in order to artificially raise the title. The maneuver, which took place in autumn 2001 had also attracted the curiosity of the Commission des Operations de Bourse (COB today MFA).The financial analysis reports thus form the backbone of a judicial inquiry which has also been able to stop on items less austere, starting with the part of alleged abuse of social good to Jean-Marie Messier.

"J2M" had, following his departure in July 2002, received a driver, health coverage for five years and, according to justice, a sum of 18.6 million euros … The skipper featured n 'had not actually received the money, having given up after an arbitration proceeding in New York. But the magistrate Jean-Marie d'Huy, who decided against the advice of the prosecutor to refer the accused before the court, has severely criticized the gap between the sinking of the accounts of Vivendi Universal and conditions of departure its CEO.It was "manifestly excessive benefits in relation to the situation at this time of Vivendi Universal," the judge wrote in his order of dismissal.

During the investigation, the gap between the financial health of Vivendi Universal and benefits granted to its CEO has also held various volumes of the file. In his complaint, which triggered the whole affair, counsel for small shareholders, Frederik-Karel Canoy me, questioned the use by "J2M" and his family from a New York apartment paid by the group . His curiosity was also flying in helicopters and private planes paid by VU.

Jean-Marie Messier was cleared on this point. But, amid internal squabbles with former anti-terrorism judge who was then the officer in charge of security of Vivendi, Jean-Rene Fourtou successor "J2M" at the head of the group, which has a time been concerned .An investigation had been opened on weekends in private jet before being discontinued, after repayment of disputed amounts. The episode is closed for justice. He could resurface during the trial in Paris if the tone rises again between Jean-Marie Messier and his former group.

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The automotive industry has yet taken advantage of the premium for scrap in February. The new car sales rose in February from 3.2% a year, said Tuesday the Association of European Automobile Manufacturers (ACEA). Just over one million vehicles were registered in Europe (EU and Iceland, Norway and Switzerland, but not Cyprus and Malta).

The increase in sales to 7.9% on the first two months of the year, ACEA said. But compared to pre-crisis in January and February 2008, registrations were down by 15% and 16%, said she.

The differences between the different European markets have increased compared to January. Countries like France, Italy and the UK still benefiting from the effects of scrapping bonus with dramatic increases in registrations respectively 18.2%, 20.6% and 26.4%. Spain has seen its sales off by 47%.In contrast, Germany, which has exhausted its position to support the sector, recorded the worst results in Europe, with a fall of 19.5%.

This buoyant market at arm's length by car scrapping has been particularly successful with French brands payday advance lender . Renault (Renault and Dacia brands) has seen its sales jump 30% on a year to 109,663 units, the PSA group (Peugeot and Citroen) of 18.4% to 149,128 units. The Volkswagen Group (Volkswagen, Audi, Seat and Skoda), European champion in the sector has recorded its share of sales decreased by 1.7% to 207,969 vehicles.

Renault in third place

Other brands, Fiat sees sales increase of 12.4%. In the high-end, sales of BMW rose 6.3% thanks to the Mini (+22.7%) while those of Daimler sank 9.7%.Among non-European groups, Toyota saw its sales fall by 7.6%, General Motors (Opel, Chevrolet, Saab) of 2.8% and 13% of Suzuki. In contrast, Nissan rose 32.1%, Korean Kya 26.8% and 24.5% of Hyundai.

Vokswagen The group maintains its first place in the European rankings, with 20.1% market share. PSA is in second place (14.4%). In third place, its good results enable Renault (10.8%) than Ford (10.1%).

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Finance ministers and central bankers of the G7 (U.S., Canada, Japan, Germany, France, Italy, United Kingdom) are found on Friday and Saturday in northern Canada (see below). As Barack Obama lashed out Wednesday at the undervaluation of the yuan, "matters relating to the Chinese currency (are) in all minds," said Treasury Secretary Tim Geithner, suggesting that the subject would be treated by the G7.

Officially there is indeed no agenda, and contrary to tradition will be no statement issued after the meeting. "We want to rediscover the" spirit of Rambouillet "historic first G7 in 1975, and have a" chat by the fireside "freer," says one does in Paris.

There is also evidence that the G7 keeps all its usefulness, although the creation of the G20 seems to have finally stole the palm as an instance of global economic governance. The G7 countries are convinced that they have specific interests in common, as explained by a European central banker. "Our currencies are the only ones to be truly flexible, and also we can not forget that our economies have pushed capitalism to the brink!" Quipped the great European treasury.

Debt relief in Haiti

The G7 countries recognize the need to reorganize their respective banking systems, which – and alone! – Were behind the financial crisis of 2008.Mario Draghi, participate in debates with his two hats as governor of the Bank of Italy and Director of the Financial Stability Board, the international body created by the G20 to coordinate international regulation of all financial institutions, and not Only banks fast payday loans .

As for currencies, it is true that the G7 currencies are virtually alone, with few exceptions including the Swiss franc, which float freely, for better or for worse. The remarks made Wednesday by Barack Obama against the yuan, strangely overlapping language of Nicolas Sarkozy vis-?-vis the dollar."The price of currencies and their accuracy is one of the challenges we face on the international level to ensure that the prices of our products are not artificially inflated and those of their equally artificially lowered," said U.S. President.

Even if the G7 should lead to no decision, according to a spokesman for the German Finance Ministry, announcements could be made regarding Haiti. The U.S. Treasury first raised the issue of debt relief for Haiti. Dominique Strauss-Kahn, the IMF managing director and Robert Zoellick, President of the World Bank participate in the Canadian meeting.

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During the worst crisis in the global economy since 1929, electronic commerce has continued to grow. The turnover posted by online merchants reached 25 billion euros, up 26% in one year. Growth continues at a speed so rampant: the activity has increased tenfold since 2002. Electronic commerce now weighs just over 4% of retail sales (excluding food and pharmaceuticals) business cards . And projections are optimistic, according to the Federation of e-commerce and distance selling (Fevad), who presented the results Tuesday, the amount could reach 46 billion by 2012. The increase in 2009 was fueled in particular the creation of 17,000 new commercial sites, two every hour!

Barely two months after the EU-Russia summit in Stockholm, the energy tensions resurface. Moscow may decide to deprive Slovakia, Hungary and the Czech Republic of oil because of "unresolved issues between the Russian Federation and Ukraine," said the Slovak government in a statement Monday, citing a letter sent by the Russia to the European Commission.

In this letter, Moscow stresses the existence of a "trade dispute" with Kiev, confirmed a spokesman for the European Commission Figaro.fr. "Member states have been alerted to this note by the usual procedures. The oil price is a sensitive issue between the two neighboring countries, which have already been two "gas wars" in late 2005 and early 2009. If Europe is much less dependent on gas than oil from Russia, the prospect of closing the valve by Moscow worried.Slovak Prime Minister Robert Fico has convened an emergency meeting of the Security Council in the country on Monday, the government said.

Kiev wants "guarantees" on transit

The Ukraine has not responded. Sergui Zinkevitch, a spokesman for the Ukrainian pipeline operator Ukrtransnafta, told AFP that Kiev wanted to review the conditions of transit of Russian oil to the EU. "The current contract was concluded in 2004 for fifteen years, the Ukraine wants to make amendments." And seeks assurances from Moscow on the volume of oil transiting through the country. "Negotiations are continuing," acted as spokesman. According Sergui Zinkevitch, however, complaints from Moscow did not arise, the tariff issue has been resolved."A compromise satisfactory to both parties has been found," he said.

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While the inaugural flight of military transport aircraft A400M has just taken place, the boss of aerospace group reported ambitious goals, with the hope of doubling turnover in ten years alone. "We want to double the turnover of 43 billion currently to approximately 80 billion by 2020," says Louis and Welsh, president of the European group EADS, in an interview published Monday by the German newspaper WirtschaftsWoche.

Additions to the services area

Such growth can not be fully carried out internally and should pass through acquisitions, particularly in the services sector. "I see, for example, a potential for services generate 20 to 25% of turnover. Today we're at a little over ten per cent. There are services such as maintenance, training and repair.We want to add new services, "said Louis Welsh.

EADS CEO also said that no decision has yet been arrested for his participation in the tender for the renewal of the American fleet of refueling aircraft, which represents a potential market of 50 billion dollars. "We never said we should abandon the game, only that we had concerns about the current process of bidding," says he.

Northrop Grumman's partner, EADS, announced last week that he would not participate in the tender launched by the Pentagon, believing that the requirements of the contract favored Boeing in the current state of things.

EADS shares gained 1.5% to 12.55 euros on the Paris Bourse at about 11:00.

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