New trial for Yahoo!. The U.S. internet group announced Sunday it had appointed a new temporary chief executive, Ross Levinsohn, replacing Scott Thompson less than five months after the arrival thereof at the head of the company. "Scott Thompson left the company" Yahoo! justifies no further details. The group further states that Fred Amoroso has been named president of the board to replace Roy Bostock.

This change in the leadership of a pioneering Internet companies, now embattled, was announced a few hours after the release of information on the site dedicated to news reports All Things Digital. The article reported an imminent departure of former CEO in the wake of a controversy provoked by the discovery of falsification of his CV. A few days earlier, Patti Hart, director of the group, had also been forced to leave the band for the same reasons: she had embellished his CV.

According to All Things Digital, the reason for the "abrupt departure" is only due to the activism of hedge fund Third Point, a leading shareholder of Yahoo! with 5.8% stake. A shareholder who has been trying for several years to gain seats and influence within the board had asked the head of Scott Thompson. And the fund has been successful. In fact, Yahoo! has agreed that the boss of Third Point, Daniel Loeb, and two persons selected by him, Harry Wilson and Michael Wolf, are seated on the board from Wednesday. The Board is pleased to announce these changes and this agreement with Third Point, and is confident they will be in the best interests of our shareholders, "we read in Yahoo! News.

The group did not, however, extends the strategy it intends to follow in the future, simply stating that "in as interim CEO, Ross Levinsohn will direct the day to day running of the company, helped by the existing team of executives from Yahoo! ". This last Sunday was up global director of the media branch of Yahoo! It is the fifth CEO to take the reins of the group in five years. The question is whether Yahoo! will manage to raise the head above water.

ALSO READ:

"The CEO of Yahoo accused of lying about his resume

"New case of forgery at Yahoo! CV

Imagine that the "Greek Mélenchon" Alexis Tsipras, took power in Athens. The charismatic leader of the far left Syriza hoisted his party to second place in Sunday's parliamentary election. It may well prevail during the next legislative likely in early June. But Alexis Tsipras advocates stopping the austerity and maintenance in the euro area. Problem: he can not have one without the other.

Immediately canceled the cuts, the International Monetary Fund and the European Union would cut funding to the Greek State. However, it turns through a continuing infusion of tens of billions of euros paid by its partners. Credit Suisse has calculated that 143 billion had been paid from 2010 to today. Athens also expects a further payment of 5.3 billion euros. If the bailout fund approved this assistance, it nevertheless reduces the amount of one billion that has been blocked for a possible payment in June.

Without this money, the Greek state would be bankrupt by the end of June The government could fine delay payment of his bills, he could no longer pay civil servants and pensions, spending a few weeks. The State could not repay such 25 billion of debt held by local banks. Another blow to these institutions, themselves deprived of their infusions so far granted by the European Central Bank (ECB). Failing banks, companies can no longer pay their employees who would join in the street and retired civil servants too dry.  

The return to the drachma

At one point during the summer, to prevent the situation from worsening, the government would be forced to issue its own currency to pay his debts and wages. One way or another. "Greece could opt out of the euro area if it was unable to resume growth by remaining in it, and if severe measures were undermining the commitment to the European idea, or if the populists came to power," summarizes the rating agency Fitch. The risk that such a scenario occurring is difficult to assess. Credit Suisse analysts estimate it at 15%, those of the U.S. bank Citi from 50% to 75%.

The cure would be worse than the disease. "Greece would live a financial collapse and recession far worse than it is now experiencing," warns Willem Buiter, chief economist at Citi. The country's economy would probably collapse in half, according to Stephane Deo, an economist at UBS.

The euro would probably be replaced by a return to the drachma, the former Greek currency. If the government decides to start a drachma equal one euro, this parity would not last. Runaway inflation, massive flight of foreign capital … very quickly, the new currency would not be worth much. Eventually, the Greeks could buy with a dram about half of what they previously available with the euro, said Patrick Artus, chief economist at Natixis.

Ruin savers

The falling value of the drachma by 50%, the price of goods purchased abroad, so foreign currency, oil to the iPhone, would double. However, Greece is a country that imports more than it exports. Companies would face enormous difficulties with their foreign suppliers. At the same time, investors would be ruined, their euros have been converted into drachmas at the exit of Greece in the euro area. In contrast, debt, starting with the State, would gain: their claims would melt as the drachma collapses.

The crisis is broadcast in parallel in the rest of the euro area. Athens could refuse to honor its debts as planned by its partners. At stake, more than 143 billion euros granted by international institutions since 2010, according to calculations by Credit Suisse. Banks, insurance and other private foreign investors would be affected only to the tune of 36.3 billion euros, according to estimates by UBS.

However, these are not the direct loss of most concern. The greatest risk, but also the greatest unknown, lies in the domino effect caused by the event. "A taboo is broken, the output of a country in the euro area," said Willem Buiter. The extent of the disaster would then depend on the ability of other European states to seal the crisis. There are divergent views. Some, like Fitch, believe that the contagion-proof tools exist, such as financial firewall 500 billion euros. And displayed a strong support to other countries in difficulty, coupled with greater integration of the area, the last calm fears.

More pessimistic, other observers expect a response too little too late in the Member States in case of contagion. As was the case until now, they said.

ALSO READ:

"Europe is entering a zone of turbulence

"Billions at stake behind the Greek political chaos

»BLOG – Euro or drachma? Greece must choose, but soon!

"The election worries Greek markets

New blow for Spain and for the entire euro area. Standard & Poor's lowered the rating by two notches to the Spanish sovereign debt to "BBB +" against "A", despite high levels of austerity measures put in place. The fourth largest economy in the euro area is thus relegated to medium quality transmitter able to meet its obligations adequately, but his bill could still plummet since the rating agency maintains a negative outlook on the country.

The U.S. agency is concerned because new fiscal slippages related to weaknesses in the financial sector, real Achilles heel of Spain. The state could indeed be forced to bail out its banks again, who continue to pay the price of the bursting of the housing bubble. A scenario in which S & P assigns a "growing probability". The results of Santander at half mast, the first bank in the euro area, illustrate these difficulties: the benefit of the institution has tumbled nearly a quarter, weighed down by heavy supplies.

Moreover, the further deterioration of the S & P takes into account the contraction of the Spanish economy, which will not be without consequences on the country's budget. "We think the risks are most important in terms of budgetary performance and flexibility, as well as the burden of sovereign debt, especially due to new contingencies that could materialize in the government's record" , the agency said.

The Spanish Government criticizes the decision of the rating agency, which he did not consider the reforms announced since December. The question is what the market reaction. Earlier this week, Spain and Italy were forced to borrow at very high rates.

ALSO READ:

"Spain: the rigor justified by the risk of bankruptcy

For the first time in three years, the hiring intentions of managers in business are down for the second quarter. According to the barometer established by the Association for the employment of executives (APEC), only two companies provides for recruiting at least a framework by the end of June. Rate down by three points from last year to the same period. The situation also seems particularly bad in the trade, transportation and consulting and business services where the declines, year on year, reaching 4 and 7 points respectively.

Lack of visibility on growth

Worse, it is the general forecast the worst for 18 months, although it remains well above the low reached in the third quarter of 2010 (43%). Another negative point, but not least: APEC has been a fall of 12 points in the proportion of firms indicating that their recruitment of executives are more numerous than last year at the same time, to 29%.

Last factor of concern is the monthly index of dissemination on the Internet offers executives lost 3 points in March from the same month a year earlier. Again, the first since February 2010.

The reason? "Great caution" partly due to the uncertain outcome of the presidential election, the association notes. "The fall was also linked to lack of visibility on future growth in France, says Marie-Francoise Leflon, its president. However it is too early to tell whether this decline will continue, recruiters surveyed being confident on improving the situation of their business in the coming months. "

In its most common meaning, the deductible is an amount of money that remains the responsibility of the insured in case of disaster or when the responsible person is not identified. This allowance is intended to:

The driver-responsibility by sharing the risk,

-Limit "small" claims, which are comparatively more expensive in terms of administrative costs,

-Allow the company to propose lower prices.

Namely: the deductible does not apply to third party victims, who are always fully reimbursed.

Application of the exemptions

Regarding auto insurance, there are also:

-Deductible mileage. It is home to a distance beyond which the automobile assistance benefits do not fire. For example, if the deductible mileage is 50 miles, the tow vehicle crashed 20 km from the residence of the insured will not be supported.

-The deductible on work incapacity or disability: it is the number of days of disability or a disability rate below which the personal guarantee of the driver does not play (eg, 10 days of disability or 5% disability).

Relief may take two forms. The franchise deductible amount is simply called a threshold. In this context, the insurer does not support the claim that if the amount exceeds the amount of the deductible. If he supports it, it's totally and no money is left in charge of the insured. For example, if the contract provides for a deductible of € 300, a loss of € 250 will not be supported, but a loss of € 500 will be fully reimbursed to the insured payday loans.

The corresponding absolute frankness about it in the most common case. This amount is borne by the insured in any case. Thus, if the deductible is € 300, a loss of € 700 will be repaid only € 400 to the insured.

Excess amounts

Some franchises are set by ministerial decree and therefore required all insurance companies. This is particularly the case of natural disaster deductible amount of € 380. In contrast, other franchises are freely set by the insurers.

Limit or eliminate the deductibles of an insurance contract is to actually buy them. Therefore, contributions and increase the gap between premium contract with deductible or no deductible up to 30%. The insured can choose its franchises in particular according to their driving habits.

Note: Franchise may be different from a guarantee to another. For example, in the same contract, the franchise glass breakage can be 250 €, but that of flight-fire guarantee of 750 €.

Thus, an insured person who never lends his vehicle can save money on their insurance premiums by choosing a franchise "ready to drive" high. Conversely, parents of a young driver may have an interest in buying the franchise "novice driver" time of his apprenticeship.

ALSO READ:

"Auto Insurance: All about the green card

"The expertise self after a loss

SERVICE:

"Find car insurance that meets your needs with the help of experts CPLUSSUR.COM

In Norway, one of the richest countries in the world, the housing bubble never ceases to blow. Prices have doubled in less than ten years. The increase has further accelerated in the last quarter of 2011, fueled by falling interest rates. The Norwegian Central Bank, like its neighbors Sweden and Denmark, has changed its monetary strategy in December to counter the appreciation of his crown. "The monetary authorities are faced with a dilemma. Their priority now is to boost exports in a less favorable international context, the risk of maintaining the housing bubble, "says Caroline Newhouse of BNP Paribas.

There is also an effect "euro zone", the economist added: foreign capital sought refuge in the Nordic economies, spared by the European crisis and healthier financially. To say in the Norwegian case, the country has with its sea-kissed gas and oil a budget surplus of 10 to 15% of GDP on average and a sovereign fund with 400 billion euros. Boosted by exports and investment, in 2011 Norway experienced a growth of 2.5% of GDP and unemployment fell to 2.7% in February.

All positive factors that stimulate consumption and real estate credit. "The ratio of household debt to disposable income has grown very large: it rose from 125% in 2000 to over 200% today," says Caroline Newhouse instant personal loans guaranteed.

Back in Denmark

In early February, the International Monetary Fund (IMF) has warned against the risk of bursting of the housing bubble and its consequences on the banking system, the situation of households, and more generally on the country's economic health. The IMF, which considers house prices overvalued by 15 to 20%, slightly revised down its growth forecast to 2.2% of GDP for 2012.

It must be said that the real estate bubble burst in early 2011, after the rise in interest rates, no end to wreak havoc on the small Danish economy has plunged into recession in the second half of the year. Prices continue to fall and foreclosures have reached their highest in 17 years.

In Sweden, the landing is smoother, "the year 2011 was marked by the gradual turnaround in the housing market," said Nathalie Dezeure Natixis. All indicators – start of construction, residential investment, transaction volumes and property prices – are down but still at high levels. Concerned about the phenomenon, the Riksbank has commissioned several studies. It turns out that the movement is less speculative than structural, linked to a shortage of supply becomes problematic in central Stockholm.

ALSO READ:

"Norway / Denmark: falling unemployment

The call to strike by three unions (CGT, CFDT and UNSA) air traffic controllers will cancel and delay several flights to Orly and some regional airports. At Air France, which opened two new bases Sunday in Toulouse and Nice, it ensures that customers affected by such disruption are informed as and by SMS, email, ur website or via smartphone applications . The company says that there will be no cancellation of flights from Roissy-Charles de Gaulle, otherwise some delays. The strike only for domestic flights and will have no effect on the medium and long haul flights, except for some possible delays on takeoff.

At Orly, "it is about 20% of preventive flight cancellations, according to what had been announced. There are no delays or queues, "says one at the airport. "There may be additional disturbances, but not until the mid-morning." For its part, easyJet has already canceled 16 flights today from or arriving at Orly airport and advises all passengers to "check the status of their flights regularly." In all, the airlines have so far deleted about one flight in five between today and tomorrow, departing or arriving at Orly short term personal loans.

Eighteen flights have already been canceled at Lyon Saint-Exupery. These flights come from or go to Marseille, Toulouse, Bordeaux, Pau and Metz. At the airport of Biarritz-Anglet-Bayonne "disturbances" were announced, which result in the removal of some flights. It is recommended that travelers contact their airline for more information. resulting in the cancellation of a particular movement in the Basque Country this day of presidential candidate Eva Joly.

The unions called the strike to oppose a plan to restructure air traffic control services in the provinces, which would imply a decline in numbers. Air traffic controllers, agents of the public service, have an obligation to provide minimum services. However, if the strike notice is required, the strikers did not have to declare individually 48 hours in advance, as is the case for railway or recently for pilots and stewards.

ALSO READ:

"Air France is launching 18 new routes to Toulouse and Nice

"Air France rethinks its medium-haul

Passengers departing from or arriving at Orly on Monday and Tuesday next, should inform themselves of their flight before leaving for the airport. The Directorate General of Civil Aviation (DGCA) has announced on Friday it asked airlines to remove 20% of flights for two days, due to a strike call by three unions of air traffic controllers .

"Some disruption may on the whole territory", including at regional airports from Sunday night, also warned a spokesman. Officers will be strikers in provincial airports affected by a reform of work organization. It will also be the case agents Orly or regional centers of control in flight navigation. DGCA says, however, that the Roissy-Charles de Gaulle will not be affected.

DGCA prefers to take precautions while the CGT, CFDT and UNSA Civil Aviation All three filed a notice of strike to oppose a plan to restructure air traffic control services in the provinces. The unions condemn a plan to close "half of approach control service in France with their support services and maintenance, all regional services flight information and part of the aerodrome control."

"Threats to the working conditions"

The departments responsible for security and air traffic control in cities such as Mulhouse, Biarritz, Metz-Nancy are or Beauvais "directly threatened with closure or relocation," suggests the USAC-CGT, which is also concerned that the policy the DGAC make "a serious threat on the working conditions of workers in organizing the under-staffed." The SPAC-CFDT (CFDT union personnel of Civil Aviation) asked management to stop applying "indiscriminately" non-replacement of staff on two retiring (RGPP), made "to back conditions of employment of staff and services. "

For its part, the DGAC justifies its willingness to restructure its services to changing needs, increased European coordination, the RGPP and technology upgrading. Maurice Georges, Director of Air Navigation, told AFP Friday at the will of the DGAC "reorganize air traffic control to improve service and optimize its resources." "It was this type of reorganization for 20 years, just over the water, but now we would have a broader vision to 2020," he said.

After the strike call, "we have implemented the provisions of the minimum service required by the 1984 Act and therefore requisitions," said the Director of Air Navigation. "There will be disturbances, because the minimum service that is not to compel all controllers but only a number based on a good balance between the right to strike and the minimum service required by the law," Maurice George added.

(With agencies)

ALSO READ:

"The" outraged "Corsican Air France lost the battle

"The law on strikes in the air passed