Up 22% of the profit of Intesa Q1

Net income of Intesa Sanpaolo, the first retail bank in Italy, grew 22% to 805 million euros in the first quarter, supported by gains on its trading own obligations.

The bank had to spend in provisions for doubtful debts of 970 million euros in the quarter, up 43% over the same period last year, to account degradation of credit quality in the country, hit by a deep economic recession.

Fears of a deteriorating economic situation in Italy, where Intesa makes 80% of its activity, is one of the elements cited by Moody's to justify lowering the massive credit rating of Italian banks Monday. 

Moody's lowered the rating of Intesa Monday to A3, the same level as the Italian sovereign debt.

Intesa announced that its ratio of "core Tier 1", financial strength, was 10.5% at end-March, against 10.1% at the end of last year – one of the highest in Italy.

The bank expects a stable overall operating profit in 2012, excluding special items.

Like other Italian financial institutions, Intesa ended the year 2011 in the red, with a loss of 10.1 billion euros over the years, having moved from significant impairment of goodwill to its balance sheet clean, hard hit by the crisis of the euro.

The title was down nearly 2% in the Milan Stock Exchange.

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Berlin to a growth pact, but its conditions

The German Minister for Foreign Affairs presented a Friday "Growth Pact" European six-point, while reiterating that Greece should comply with its commitments to fiscal reforms TARY if she would qualify for financial assistance from the euro area and not be excluded from it.

"In Europe, we also want to focus more on growth," said Guido Westerwelle before the German deputies in the Bundestag.

The minister was however opposed to increased spending, saying the pact for growth, particularly desired by the new French president Francois Hollande, was not to imply that " better use of resources "from the EU. 

Guido Westerwelle city "trips financed by Europe in the romantic hotel spas" as an example of waste in Europe.

The minister said the EU should invest 80 billion euros of unused structural funds in projects aimed at stimulating growth and competitiveness.

He also wanted to push the European Central Bank (ECB) to provide better access to credit for small and medium enterprises.

The former head of the liberal FDP, which form a coalition with the Christian Democrats (CDU / CSU) Chancellor Angela Merkel, European growth was linked to a liberal ralisation of domestic and foreign markets. 

Francois Hollande Angela Merkel will meet Tuesday, hours after his inauguration, to discuss the crisis in the euro area and the measures needed to stimulate growth in Europe presqu'entiè ; LY dive into recession – with the notable exception of Germany.

This will be their first face to face interview, while Angela Merkel has avoided meeting Francois Hollande during the presidential campaign, where she supported his opponent Nicolas Sarkozy.

Peter Bofinger, one of five "wise men" who advise the German government on the economy, has also decided Friday to allow more room for countries suffering from the debt crisis. 

"The problem countries kill themselves to save," he told an Austrian newspaper. "We must stop this, even if deficits rise in the short term."

The gasoline prices recede

This is the first time since the beginning of the pump price move downward. But they remain at a high level. Per liter of diesel appears to 1.4295 euro.

The price of unleaded petrol and diesel at the pump fell last week, moving downward for the first time since January even if they remain at high levels, according to weekly surveys released Monday by the Ministry of sustainable development.

Per liter of diesel, the most fuel sold in France (over 80% of sales) fell to 1.4295 euro against 1.4362 a week earlier, away even further from its historic high (1.4584 euro) established in mid-March. Side of gasoline, a liter of unleaded 95 (approximately 15% of fuel sales) declined to 1.6507 euro against 1.6664 euro to a record last week, unleaded and 98 (about 5% the national fuel consumption) fell to 1.7001 euro, 1.7095 against euro a week earlier (and after peaking at 1.7121 euro at the beginning).

These sales prices at the pump are national averages calculated by the Directorate General for Energy and Climate (DGEC) from data provided by service stations and are greatly exceeded in some service stations. This is the first time since late January that the three fuel categories appear all down, according to statements DGEC.  

Proposal competition for candidates at the Elysee Palace

Since late 2011, fuel prices have been drawn into a spiral upward, due to geopolitical tensions (Iran, Sudan, Nigeria …) that keep crude oil prices at very high levels, and weakening of the euro against the dollar adds to the cost of black gold once its converted value in the European currency.

Unleaded gasoline and had hit a new record last week for the sixth consecutive week, while 98 unleaded climbed from summit to summit without interruption from February until early April, and the oil had chained the Records from February until mid-March. The surge in fuel prices, which hit motorists portfolio, triggered a competition for proposals and cons-proposals from the candidates in the presidential election. The Socialist Francois Hollande, who arrived Sunday ahead of the first turn, pledged if elected to block the fuel prices for three months, a measure deemed absurd and demagogic by outgoing President Nicolas Sarkozy, who will play at the second round scheduled on May 6

The former trader Jerome Kerviel SocGen complaint against

The former trader Jerome Kerviel has filed a complaint against Societe Generale judgment for fraud, said Friday his lawyer, David Koubbi, in an interview on Europe 1.

"We filed a complaint against Societe Generale today the judgment for fraud," he advised me Koubbi.

"What interests us is that our complaint is welcomed," he added.

Kerviel was sentenced in 2010 to five years in prison and three farms to repay 4.9 billion euros, an amount corresponding to the loss suffered by the SocGen trading in January in 2008.

His appeal to be held from 4 to 28 June 2012.

Italy has revised downwards its growth forecast

The government of Mario Monti expects a decline of 1.2% of GDP for 2012, against an anticipated 0.4% decline in December. And return to a balanced budget is delayed. "Reforms should increase growth by 2.4% between 2012 and 2020," according to the government of Mario Monti.

The Italian government on Wednesday revised downwards its forecast for gross domestic product (GDP) for 2012, providing for a contraction of 1.2% against a 0.4% decline in the last official forecast from December. He at the same time delayed its planned return to balanced budgets, expecting a deficit of 0.5% in 2013 (instead of 0.1% predicted), in a statement issued at the end of a cabinet.

This forecast remains "in compliance" with the Covenant which provides that the European budget deficit must remain below 0.5%, says the text. One aspect stressed by the Head of Government Mario Monti at a press conference: "The Treaty (European Pact on budget) requires each Member State there is in each country a deficit not exceeding the 0.5% of GDP, "he said. "The government estimates that GDP will contract by 1.2% in 2012 to turn positive again in 2013 (0.5%) and speed over the two successive years (1 and 1.2% respectively)," the statement said . "This will allow the public debt (…) to fall to 120.3% (of GDP) in 2012 to 110.8% in 2015," said the government.

"The debt is on a path of gradual but sustainable," noted Mario Monti in its reasoning accompanying the new government's economic forecasts. "Despite progress, there is still a long way to go, in a more favorable but still characterized by elements of uncertainty," he adds.

For the government of Mario Monti, "the action of financial balance has been accompanied by the adoption of various reform measures aimed at removing the main obstacles that have hindered the growth potential of Italy. Based on estimates government, reforms should increase growth by 2.4% between 2012 and 2020, "said he. "We must revive growth in the context of a model of fiscal stability and this is the way to build a modern economy and social market," said Mr Monti, saying that "growth is the most large préoccuptation "Italians.

"We fight every day to avoid the dramatic fate of Greece," he said. "This crisis requires a very high cost to families, youth, workers, businesses and sometimes these experiences are completed in despair," he said in a grave tone evoking directly to contractors suicides occurred recently. "There were 1,725 ​​suicides, it is the dramatic effects of the crisis," he said.

The President of the Council also strongly condemned tax evasion, promising a fight against this scourge in Italy. "The commitment to fight against tax evasion responds to reasons of justice. Evasion is between companies unfair competition and a way in which citizens dishonest cause harm to other citizens, causing pressure (fiscal note) higher, "he said.

Map of Bordeaux vineyards passed under the Chinese flag

Château de Viaud in Patache, through the Grand Mouëys, discover new properties fell into the hands of the Middle Kingdom. Since 2011, redemptions accelerated.

The wave of takeovers of Chinese vineyards in the Bordeaux region has increased since 2011. At least a dozen properties were acquired by the Chinese last year. And since the beginning of the year, four transactions were concluded. Among them, the sale of Grand Mouëys in mid-February to Jinshan Zhang, the founder of a major Chinese producer of alcohol goji berries.

And the trend could increase its intensity. This is the month that predicted Jean-Luc Coupet, creator of Wine Bankers, a reference to the wine market transactions. For him, "in this wave of buying, the biggest deals yet to come." The Chinese market is already the leading destination for exports of Bordeaux wines, with about 436,000 hectoliters shipped representing 334 million euros. Besides the 100,000 hectoliters sold in Hong Kong, for 348 million euros. China would it be the future of Bordeaux?

Here are our full investigation "Harvest in the Bordelais Chinese"

The recent Chinese acquisitions in the Bordeaux Appellation Names Purchase Date Buyer Village 1. High Brisson St. Emilion Peter Kwok, Taiwan 1997 Vignonet 2. Latour-Laguens Entre-deux-mers Haiyan Cheng (Longhai Group) 2008 St-Martin-du-Puy 3. Richelieu Fronsac A & A, Hong Kong 2009 Fronsac 4. Old Cy Zhejiang Brondeau Libourne Saint-Earth 2009 5. Chenu Lafitte Cotes de Bourg village Group Haichang 2010-sur-Gironde 6. Viaud Lalande de Pomerol-Cofco 2011 Lalande de Pomerol 7. Laulan Ducos Medoc Richard Shen (Tesiro) 2011 Jau-Dignac-and-Loirac 8. Lagarosse Cotes de Bordeaux Carlico, Hong Kong 2011 Tabanac 9. La Salle Cotes de Blaye 2011 Zhongai Saint-Genes-de-Blaye 10. Monlot Saint-Emilion Zhao Wei and Huang You Long 2011 11 St. Hippolyte. Lafon Listrac Marvelake Listrac-Médoc 2011 Wine 12. Barateau High Medoc Wine Marvelake 2011 Saint-Laurent-Médoc 13. The Bourguette Sainte-Foy-Bordeaux Beverly Koo, Hong Kong nc Saint-Philippe-du-Seignal 14. Lezongars Between the two world seas Dashang 2011 Villenave de Rions 15. La Roche Pressac Cotes de Castillon Skyvast Properties, Hong Kong 2011 Saint Magne de Castillon 16. The Patache Pomerol Peter Kwok, Taiwan 17 2011 Saint-Emilion. Grand Branet Entre-deux-mers 2011 Capian Cheng Qu 18. Branda Puisseguin-Cheng Qu Saint-Emilion 2011 Puisseguin 19. Laurette St. Croix-Mount Cheng Qu 2011 Sainte-Croix-du-Mont 20. Thébot Sainte-Foy-Bordeaux Cheng Qu 2011 Saint-André-and-Appelles 21. Tour-Saint-Christophe Saint-Emilion Peter Kwok, Taiwan 2011 St. Christophe-des-Bardes 22. Bertranon St. Croix-du-Mont Meng Gao Loupiac 2012 23. Between Cugat-deux-mers 2012 n.c. Blasimon 24. Grand Mouëys Entre-deux-mers Jinshan Zhang (Ningxiahong) 2012 Capian

The advertising Maurice Levy defends his bonus

Maurice Levy, chief executive of Publicis Groupe, Saturday defended the bonus of more than 16 million that has been granted and which had been criticized by Many political.

"This is a deferred compensation that is to say, it has been accumulated over the years," he said on RTL.

"It's nine years during which there was a requirement (…) which was to outperform (…) If I had my match bonuses each year, person never would have spoken, "he added, acknowledging that this was" big money "and understand that this saying may be shocking.

Maurice Levy said he regretted a form of political recovery of the amount of his bonus in full campaign period. 

Without naming them, he estimated that some politicians had decided to be seized "or because they were out of the program, either because they were out of political jurisdiction or simply because they wanted to flatter the base instincts of what is known as the populism ".

"We're saying success is prohibited when it is accompanied by an economic success," he said.

The advertising we found would have "done better" to ask him what he would do this bonus, but without any answer to this question.

Publicis revealed in its 2011 reference document that Maurice Levy would receive approximately 16.2 million euros in accumulated deferred variable compensation ; art since 2003. 

The PS candidate Francois Hollande felt it was "not acceptable" that people receive such a sum in times of crisis "where everyone has to make efforts." The government spokesman Valérie Pécresse also found "disproportionate" as a bonus.

As for Nicolas Sarkozy, who promised, if elected, to introduce stricter control of very high salaries, he expanded his conviction of the person Elisabeth Badinter, the daughter of the founder and main shareholder of the group Publicis. Stressing that it has "left heart", the president criticized the socialist candidate to condemn the bonus Maurice Levy without associate.

LIVE. Xavier Bertrand debate-Francoise Gri on youth employment

The Minister of Labour is currently a guest on Expansion and Business Institute for a discussion with Francoise Gri, Manpower France's patron. Follow the live chat with Dailymotion.

In anticipation of upcoming elections, the Institute of Business and Expansion Tuesday, April 10 to receive 8h30Xavier Bertrand, UMP Minister of Labour, and Francoise Gri, President of ManpowerGroup France. They discuss the theme: "Youth employment: how to meet (finally) the challenge?".

The debate is moderated by Beatrice Mathieu, a journalist at L'Expansion. It is broadcast live on Dailymotion. You can also comment on twitter and ask your questions or comments via or via the # debateco. Three questions will be selected and asked Xavier Bertrand on video.

Strike in the air: delays and closed aéoroports

The eprturbations are limited to Orly and Roissy. Delays are however consistent in the provinces. Footballers of the OM, which must envoller to Munich, are paying the price. AIRPORT Roissy Charles de Gaulle, PARIS, FRANCE, March 2011

Domestic air traffic was reduced and sometimes significant delays Monday the first day of a strike against the air traffic control reform of navigation, which led to the closure of several airports. The CGT, CFDT and UNSA called the personal air navigation, including air traffic controllers, to protest on Monday and Tuesday against the abolition of positions and the major restructuring of the service in the provinces.

Delays of several hours were recorded in the morning in the region, while dozens of flights were canceled at the weekend in anticipation of the strike, the Directorate General of Civil Aviation (DGCA) has asked Friday to particular companies air to remove 20% of their flights on Mondays and Tuesdays departing or arriving at Orly. Easyjet has canceled 16 flights for Monday to arrive at or depart from this airport, where the situation was calm Monday morning, without delay or queue, according to an airport source, who observed that the strike had been "widely anticipated "and civil aviation companies. From Roissy, Air France plans to maintain its entire program. "Some delays are still possible, however," admitted the company.

However, delays were substantial in the provinces, as in the far west (Rennes and Nantes) or Metz-Nancy, where the routes to Toulouse and Marseille were advertised with two to three hours late, and those to Lyon and Nice canceled in both directions. At the airport of Marseille-Provence, where large queues began to form in the late morning, 10% of flights (28 flights of 286) were canceled by the airlines, according to a spokesman for the direction. Passengers were advised to contact their airline before traveling to the airport. The players of Olympique de Marseille have also borne the brunt of the disruption: they had to take off at 1:00 p.m. for Germany instead of 10:00.  

In Nice, over a third of the 90 Air France flights were canceled at this stage and five easyJet flights. Moreover, cancellations accumulated: 15 to Bordeaux-Merignac, 36 at Lyon Saint-Exupery, 28 in Toulouse. The conflict has also led to the closure of airports of Pau, in the absence of the head of the control tower, Beziers (Hérault), Rouen, Avignon, Le Bourget (Seine-Saint-Denis) where services controls air are closed, told AFP a spokesman for the DGAC, which does not yet have the strike rate at the national level.

Unions estimate that half of the 30 approach control services are threatened, or a direct risk to "dozens of jobs in the inspection, maintenance, technical and administrative", according to the CGT. Approaches are one of three levels of air traffic control, with control towers in France (over 80), and five regional centers of control in flight in the metropolis. For its part, the DGAC speaks of "redeployment" "and" optimization "and justifies its willingness to restructure its services, including the changing needs, increased European coordination and modernization of technology. In case of strike , air traffic controllers have a minimum service obligation, and requisitions are possible. The minimum service is applicable in 17 airports including Toulouse, Mulhouse, Ajaccio, Bordeaux, Orly and Roissy, according to DGAC …… …

For Sarkozy, we are "in phase of economic recovery"

In an interview with the newspaper Ouest France, the incumbent stated: "we came out of the financial crisis" and "we are in the process of economic recovery." Incumbent President Nicolas Sarkozy (here in Lyon March 17, 2012)

Nicolas Sarkozy, a presidential candidate, says that "we came out of the financial crisis" and that "we are in the process of economic recovery," in an interview with Ouest-France, to be published Tuesday. "I think we came out of the financial crisis, that confidence is restored and we are in the process of economic recovery," said the president candidate, who makes a visit on Tuesday the Guerande peninsula, followed the end of afternoon by a meeting in Nantes.

"What did they say Does peaks between Ms. (Angela) Merkel (German Chancellor) and me! Through these summits, Europe has an economic government overcame the Greek crisis", has he argued. To "reinforce" this situation, Mr. Sarkozy reiterated his proposals: political governance of the Schengen zone to protect its borders, failing which France will suspend its participation in Schengen, creating a Buy European Act for reserving public contracts to companies that produce in Europe, setting up a Small Business Act, reserving 20% ​​of public procurement to SMEs.

Failing agreement, France will only implement these provisions. Western journalists from France who told him that it smelled "the ultimatum", Mr Sarkozy replied: "it does not smell at all the ultimatum, it smells voluntarism (…) The Minister of the Interior German recently told that I had absolutely right and he was asking the same thing. The truth is that if Europe falls back into his through before, it will explode. " "I kept the same values: hard work, effort, merit, responsibility, authority, solidarity", he also said.

"To the great difference in Mr (Francis) Holland (PS presidential candidate), I consider that one can not isolate France and to promise that exempt the efforts that others are doing and ask," he also said. "My plan is to tell the French: you need to be protected. And to be protected, your country must be strong, paying his debts. This is why I will respect the objective from 0% deficit in 2016, "he added.