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Greece accelerate structural reforms to overcome the crisis, said Sunday the Greek Minister of Finance in denying the existence of problems with the donor country.

"We have passed measures that should be implemented and several structural problems for which our country should show improved results, a faster and more determined.And that's what we're doing, "said Evangelos Venizelos said in a statement.

Greece will keep its promises not because they are imposed from abroad, but "for the good of our children," he added.

Friday, discussions between the Greek authorities and inspectors of the European Union, the IMF and the ECB have been suspended for ten days, the two sides disagreeing on the reasons and extent of the delay in the Athens reduce its budget deficit.

Discussions are scheduled to resume Sept. 14.

According to Greek media this weekend, the main reason for disagreement is the refusal by Evangelos Venizelos, after consulting the Prime Minister George Papandreou, to accept additional cuts because they exacerbate the recession in a country already affected by austerity.

The finance minister has criticized these articles saying they fed "uncertainty and fear-mongering."

François Fillon will unveil in a few hours the new cost-saving measures keep the commitments to reduce public deficit. The extent of the effort is estimated at 15 billion euros. Or you can do much more. Prime Minister Francois Fillon, accompanied by Minister of Economy Baroin and budget minister Valérie Pécresse, to unveil Wednesday, August 24 to 18 hours of new measures to reduce the deficit.

François Fillon will detail on Wednesday in 18 hours the new measures of anticipated savings to meet the commitments to reduce the public deficit – 5.7% of GDP this year, 4.6% next year and 3%, the threshold set by the European treaties, in 2013. The government says the effort is to achieve additional savings of 4 billion this year and 10 billion next year.From what has leaked in the press these days, we know the main areas of government, namely a new movement of the plane on some fiscal and social niches and a tax on the richest households. Many voices have to say that these conservation measures are not sufficiently ambitious. Here's why.

Planing all the tax loopholes

In spring 2010, the government announced a movement of the plane 10% tax loopholes. In fact, only twenty – more than 500 – were planed to 10%, while many members of the majority argued for a general movement of the plane. This yield, given the cost of tax loopholes (75 billion) and social (45 billion), nearly 12 billion euros. But the government prefers, even now act on the dropper.If the overall ceiling of niches, set at 6% of income over 18,000 euros, could be lowered, only a few niches should have a new movement of the plane – 10 to 15%. These include tax relief for investments in real estate (Scellier, PTZ device Bouvard, investment in DOM, end of tax relief on capital gains from sales of second homes, etc. .).

Remove most expensive least effective

Since the introduction of the tax exemption of overtime in 2007, left-wing opposition and unions demanded its removal. They say that the device is expensive (more than 4 billion euros in lost revenue per year), reported little purchasing power, generates abuse and hiring slows. A diagnosis shared by the Court and confirmed by a recent parliament.Another workhorse of the left and the Court of Auditors: reduced VAT (5.5%) in the restoration, which took effect in 2010. This niche is more than 3 billion euros per year and its effects on employment and on consumer prices are in dispute. Other tracks: the Economic Research Service of the bank Natixis has just published a study that offers a list of 17 tax loopholes that could be terminated "without long-term damaging effects on the French economy," the authors provide. These include, in addition to VAT in the restoration and the tax exemption of overtime, the reduced rate of VAT for renovation work, the tax cut for the employment of an employee's home or Global Profit Tax System or consolidated companies. Expected gain: 20 billion euros. Las.The government plans to return only part of the tax exemption of overtime, and only a few niches are on the spot.

Tax capital in the amount of work

It is suggested that the Socialists. Another study shows just matching economic Natixis lla taxation of household wealth on the income (that is to say increase the tax rate on capital of 25 points) would release more than 40 billion euros additional tax revenues.The government plans to increase from 12.3% to 14% payroll taxes on savings (dividends and capital gains), bringing the overall level of taxation (CSG + tax) 33%, against 41 for the rate marginal income tax.

Raise taxes

In return for relief ISF voted in the tax reform Heritage in June, many members of the majority – including the President of the Senate Finance Committee, the centrist Jean Arthuis, and Chairman of the Committee on Social Affairs of the Assembly, the UMP Pierre Méhaignerie – to create a new slice of the marginal income tax at 46% against 41% today, for incomes above to 100,000 or 150,000 euros. This would yield at least 1 billion euro every year.The government has already announced that the very rich would be involved to reduce the debt of France. But it seems to favor a symbolic fee while many affluent households still largely outside the tax through countless tax loopholes. The track is now the rope is a tax of 1% to 2% on income exceeding one million euros per year. This would include 30,000 homes and bring in 150 to 300,000,000 euros.

Hewlett-Packard said Thursday it was in talks with the British publisher of Autonomy software for a possible acquisition of the latter, and a possible separation of the PC industry group.

According to several sources, the acquisition of Autonomy could reach $ 10 billion.

The title fell by nearly 6% less than an hour of closing stock exchanges on Wall Street.

The PC industry is one of the largest divisions of HP but also one of the least profitable of the group.

The American manufacturer has announced a little earlier than expected revenues rose for the third quarter to $ 31.2 billion (2.17 billion euros) against 30.7 billion a year earlier in accordance with the expectations of Wall Street.

Hochtief Wednesday reported a pretax profit of 10.2 million euros in the second quarter, exceeding market expectations with new orders rising.

Analysts polled by Reuters on average expected a loss before tax of 7.46 million.

The first group of German construction industry reiterated its annual forecast 2011-2013 and said to expect Leighton, its Australian subsidiary in trouble soon finds a solid performance.

"Our Australian subsidiary is in a very stable trend.Leighton will quickly find his usual good performance, "said in a statement Chief Executive Frank Stieler.

He still says "not satisfied" the consolidated net loss recorded by Hochtief in the second quarter, which grew to 155.6 million euros, largely because the group's activities in the Asia- Pacific, against a net profit of 88.1 million a year earlier.

Hochtief, including Spanish ACS took over in June, has also seemed pleased with the progress of the sale of airport assets, which he hopes will close by the end of the year.

"The offers are significantly higher than the figures in the media for tactical reasons," said Frank Stieler.

Honda announced Friday the recall of 2.49 million vehicles worldwide due to a software problem that could damage the automatic transmission, including the Accord sedan.

The recall by the Japanese for 1.5 million vehicles in the United States, approximately 760,000 in China and 135,142 in Canada.It affects many other countries in Europe, the Middle East and Latin America, but the Japanese market is not affected.

The U.S. market is most important to Honda, accounting for one third of global sales.

In the United States and Canada, the recall also covers hybrid CR-V came out between 2007 and 2010 and 4X4 Element released between 2005 and 2008, says Honda.

The recall affects primarily in China Agreement and also includes 160,000 Odyssey minivans released between 2005 and 2009 and 4000 Spirior.

Without updating the software, the automatic transmission of these vehicles may be damaged when the driver suddenly changes speed, which may include stalling the engine.

Chris Martin, spokesman for the manufacturer to the U.S. headquarters in California, said the recall was not a sign of more serious difficulties, but "highly unusual circumstances.

"The vast majority of our customers will not have this problem. It is a software programming. This is not a weakness of the transmission itself," he said.

No injuries and no deaths were reported this problem, he added.

Jose Manuel Barroso, President of the European Commission, on Thursday called for a reassessment of all components of the European Financial Stability Fund (EFSF) to convince the markets that the euro area may resolve the debt crisis.

"I (…) calls for quick re-evaluation of all elements related to EFSF and MES (European Stability Mechanism, which will succeed the EFSF) to ensure they are equipped with tools to address the risk of contagion, "he said in a letter to EU leaders.

A spokesman for the Commission stated that this reassessment included a reflection on the size of the bailout fund.

European shares have increased their decline after these statements, losing between 0.4% and 1% by 11:00 GMT.

Ryanair, the first low cost airline in Europe, reported Monday a quarterly profit below expectations due to rising fuel prices and operating costs.

Its net profit in the first quarter ended in June, stood at 139 million euros, well below the 151 million expected by analysts surveyed by Thomson Reuters.

Ryanair, which provides more than 1,500 flights each day, however, maintains its profit forecast for the year to 400 million euros.

Its turnover has emerged, up 29% to 1.16 billion euros, in line with market expectations.

The Irish group expects to see its average rates of return increase by 12% to 15% in the next quarter, but warned against a 4% decrease in traffic during the upcoming winter season, due to decrease in flight caused by high fuel costs.

Ryanair said its fuel needs were covered at 90% at a cost of $ 860 per ton.

Daimler and Deutsche Telecom may have to pay billions of euros in damages to the German government because of the delay in the installation of a toll system for heavy goods vehicles, reported Monday the Financial Times Deutschland.

The arbitral tribunal should take advantage of the government, which claims more than 5.1 billion euros in damages.

The two German companies have so far committed no provision for the risks of contingent payments, because doing so could be considered an admission of guilt, the newspaper said.

The toll system, which includes a GPS receiver, to be launched in 2003 on German motorways.However, it was delayed for 16 months until January 2005.

The dispute has been ongoing for seven years, according to FT Deutschland, the protagonists are expecting a final decision of the Court in the coming months.

India's Bajaj said Friday that its proposed ultra low cost cars for Renault-Nissan was still valid, denying a news report that talks between the two parties would have ended.

The Wall Street Journal reported Friday that Bajaj Auto had suspended the development of this project on the grounds that such a model would not be commercially viable.

Specialist Motorcycle, Bajaj has no intention of entering the car market with low margins, told the newspaper a board member of the group, Rajiv Bajaj.Instead, Bajaj will present a utility cheap in January, says the WSJ.

"We would like to clarify that the project Bajaj-Renault-Nissan is still very much alive," he said in a statement sent to Reuters by e-mail S Ravi Kumar, senior vice president in charge of development of Bajaj.

"The new platform with four wheels, which applications can be both the utility and passenger transport, will be presented to Renault-Nissan in January 2012," he added.

A spokesman for Renault-Nissan for its part has refused to comment on the status of discussions.

"The Renault-Nissan Alliance is still negotiating in good faith and in private.We do not comment on the status of discussions or the recent statements of Bajaj, "she told Reuters in a statement e-mailed.

Renault-Nissan is not involved in the development of ultra low cost project that could compete with Tata Motors Nano, the cheapest car in the world. So far, the alliance has always said to wait and see the platform that Bajaj will offer before considering a possible joint development with the Indian group in this segment.

Another partnership with an Indian group, Mahindra & Mahindra, has already resulted in failure.Renault was established in 2005 a joint venture to market the Logan, spearhead of the low cost of Renault Dacia, but the group withdrew from the diamond joint venture in April 2010 due to poor sales.

After this failure, Renault has opted for a different strategy this time focused on the alliance with Nissan. He said in this context in May commercial launch in India its Fluence sedan, manufactured locally in Chennai (Madras). Will follow in October the Koleos crossover, and by 2012 three other models, including 4×4 and Duster Dacoia of a compact sedan.

The slowdown in the growth of French manufacturing sector continued in June but at a less pronounced than in the previous month, Friday show the final results of the monthly survey from the Markit purchasing managers.

The PMI industry has returned to 52.5 after 54.9 in May, as a first estimate showed "flash" June 23This is the lowest figure recorded since August 2009.

The output growth fell to its lowest level since July 2009, as did new orders.

The slower growth does not further increase its staff for the eighth consecutive month.

The June survey also shows a marked reduction in inflationary pressures, the price component purchases back to its lowest level in 16 months even though inflation remains above the recorded historical average of the investigation.

Sales prices are also slowing, inflation emerging at their lowest since December.Many respondents, this is the result of competitive pressures, which limit the power of pricing, says Mark.

"The growth of production has considerably decreased during the second quarter of the year, weakening the manufacturing sector at the beginning of the second half," said Jack Kennedy, senior economist at Markit.

"Good news is on the price front: inflationary pressures easing, reflecting lower prices of a number of essential raw materials to manufacturers."