Showing posts with label French. Show all posts
Showing posts with label French. Show all posts

Monday, June 3

The French President wine be sold - buy more wine

The French President wine be sold - buy more wine
A bottle of Chateau Petrus 1985 set is indicated by the French presidential palace in the auction during an auction preview South of Paris. French President Francois hollande Palace has decided to plunge into his wine cellar, and some of their treasures to money and supplement their collection with modest vintages for sale.

France Elysee Palace is set by more than $325,000 wine auction and Thursday. And while some bottles for up to $3,000 can per bottle for sale, others could you for only $20.

Peter and other blockbuster bottles function will be the auction along with bottles of 1990 some cheaper wines, the yellow tail amount to tell out own wine allows the French Presidential Palace.

"The auction bid for wine lovers, allow, will", said Juan Carlos, an independent French wine experts are working with the hotel Drouot on sale. "We have bottles for 15 to 20 euros".

The 1,200 bottle auction highlights are undoubtedly the old bottles of Bordeaux and Burgundy. 1990 Peter might be for $3,000 $ and $3500 a bottle, while the 1998 sell Premier Cru Meursault and 1975 could Salon Chateau Lafite-Rothschild and champagne hit large numbers.

Carlos said that the proceeds from the sale go to populate Elysees 12,000 bottle cellar and buy new, younger wines from lesser-known French manufacturers. He said these wines in the Palace celebrities adds to you.

Approximately 1,200 bottles of wine, is President also this bottle Chateau Petrus 1990 will be auctioned to buy money order more wine.
He added, the wines that are sold are usually odd lots - there are only a few bottles left or an odd number, so that they are served at a state dinner can not.

Still, since some of the leftover proceeds to the State budget can go, some have the wine auction a sign of French austerity and criticized, that the Palace selling some of its liquid jewels.

Famous French wine collector Michel Jack Chasseuil after President Francois hollande, recently wrote that he feared the wines go "on the world billionaires and we are sad, if we recognize that we have no more."

But Carlos said that he hoped that the wines at "Drinker" appreciate wine would - be sold for his joy not only for collectors, they have to save the value.

"I think that the best bottles to do wine at the auction is, not to put behind a pane of glass, but to drink and then how good a time you had memories with them with other parts."

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Wednesday, November 23

S&P's French rating gaffe to be probed

An erroneous downgrade of French sovereign credit rating by Standard & Poor's rating agency on Thursday was a very serious incident and will have to be investigated, the European Commission said on Friday.


"This is a very serious incident. This shows that we are in an extremely volatile situation, that markets are extremely tense, and therefore that players on these markets must be extremely rigorous and exercise a duty of responsibility," EU Internal Market Commissioner Michel Barnier said in a statement.


The Standard & Poor's mistake spooked investors already anxious over Europe's worsening debt crisis, feeding concerns that Europe's debt problems had engulfed the region's second-largest economy.


It contributed to the worst day for France's government bonds since before the euro was launched in 1999.


In a statement issued nearly two hours after the fact, S&P said the message resulted from a technical error and not from any action it intended to take against France. It said it was investigating the cause of the mistake.


"It is all the more important since these are not minor players on these markets, but actually one of the three major rating agencies and therefore an agency that has a particular responsibility," Barnier said.


"I do not wish to make a statement on the failure itself, which immediately was recognized by Standard & Poor's. The European authority for credit rating agencies, together with AMF, the French market authority, will have to look into this and draw conclusions from this incident," he said.


"This reinforces my conviction that European must have rigorous, strict and solid regulation for credit rating agencies, but not only for them," Barnier said.


Copyright 2011 Thomson Reuters.

Monday, September 5

French economic growth Sputters stop

PARIS - France economic engine ground to a halt in the spring, as French consumers cut their spending and exports dried up, is to strengthen the concerns that the global economy faced increasing recessionary threats.

The worse than expected French personalities come, like policy makers encrypt, investor nerves to settle down, that the country of's next major economy, could lose the coveted AAA rating.

A movement Friday from stock market regulators in France and elsewhere in Europe, a form of speculation to ban, some are blamed for turbulent trading in recent days saw some effects to have that economists stressed that a very fragile recovery.

French bank shares were flat or slightly lower in early trading in Paris. In the last few days have been like Societe Generale and BNP Paribas extremely volatile amid rumors about their financial health.

The EU markets supervisor, the ESMA the short selling ban announced late Thursday night to increase monitoring of the stormy markets earlier in the day. A trader wants to make a profit in a short sale by you bet on the decline in the price of a stock. The practice is been blamed for contributing to market volatility.

Regulators in France, Italy, Spain and Belgium are the prohibitions, whose Angaben vary from country to country every implementation.

The French market regulator, the AMF said that net-short-selling bans BNP Paribas and Credit Agricole and leading insurer for 15 days on 11 shares, including the banks Societe Generale,.

Authority of Belgium announced a ban on short selling in financial stocks such as leading banks and insurance companies from Friday. Belgium had already banned short selling, which is essentially a bet on a decline in the price of a share without borrowing of share since August 2008.

Several countries banned short selling during the financial crisis 2008 to try to tame the volatility. But some experts the prohibitions, actually a feeling of uncertainty contributed to.

Message, that French economic growth sputtered in the second quarter to rest concerns that the European economy by the debt crisis is dependent on that struck some countries and has fueled the turmoil in the markets is likely.

The French economy posted zero growth in the second quarter, national statistical office said INSEE. Government had forecast growth of around 0.2 percent in the period economists.

Growth in the first quarter was nearly 1 percent, but a sudden reversal of consumer spending and stagnation of the country exporters the seizure has caused to the euro-zone's second-largest economy.

Finance Minister France Friday morning took the airwaves again in an attempt to put a positive spin numbers on the weak second quarter.

"It's no surprise that is worse than the first in the second quarter, which we expected," Francois Baroin said in an interview on French radio station RTL. He said, the Government with the glue deficit reduction targets in spite of lower is.

This week said the French Central Bank that the economy will grow only 0.2 percent in the third quarter. The Bank monthly industry survey showed corporate books and factory utilization rates fall for the second consecutive month in July.

Copyright 2011 of the associated press. All rights reserved. This material cannot be published, sent, rewritten or redistributed.

Tuesday, August 30

Baguette machines builds French bakers

PARIS - France which is home to the baguette, the savory, sharp staple of a legendary gastronomy. But try just always a fresh in the evening or on a holiday, or even in August when a large part of the country's 33,000 bakeries are closed.

Jean-Louis Hecht thinks, that he the answer.

Open the Baker from the Northeast, which has rolled out a 24-hour automated baguette France donors, much promising warm bread for the hungry night owls, shift workers or anyone else, who don't have time to bring, while their bakery is hours.

"This is the bakery of tomorrow," Hecht, announced the extension in Paris planned to Europe and even the United States "If other bakers not, give that want to niche, they go to decimated get."

For now but is much.

He has only two machines - in Paris, another in the town of Hombourg-Haut in France - each in addition to the own baking trades. The machines take partial pioneers breads bake up and deliver them all for 1 € ($1.42) dampen within seconds customers,.

Despite the extension of the fast-food chains, millions of French remain loyal their beloved baguette: it is the largest breakfast basic - usually with butter and jam - and the preferred accompaniment for cheese, lunch and dinner.

Customer experience is still a back seat to lifestyle rhythms here often. Many shops in small towns and even lower traffic areas of Paris close to noon. And in August, many companies - including bakeries - shutdown for part or all summer vacation month.

Late-night supermarkets are rare, also in Paris. And they are usually considered to be a source of substandard, despair, not the handicraft products from certified Baker.

Pike wants his automated baguette machine, to fill the gaps.

His first attempt two years ago ran into repeated technical problems. Now with the help of a Portuguese engineer and improved technology, Pike developed a new generation machine, which in Hombourg-Haut in the January operation started.

He sold 1,600 baguettes in its debut month, and almost 4,500 in July. If this set, the $50,000 be ($71,000) engine for release within a year, Hecht said.

"If you sell 100 baguettes per day, a margin of 33% (profit) is: it is phenomenal," he said, adding that he has signed up three patents.

His second baguette dispenser in the northeast of Paris began last month.

Pike came up with the idea a decade ago. Er how many French bakers - lived upstairs from his bakery in Hombourg-Haut and customers come would scrounge for a baguette, to hold them until the morning often knocking at his home after closing.

"" My wife said: "We have never, no peace!"so I said, 'we are distributor of bread, and we are alone,' "Hecht recalls."

Now, he thinks that the automated bread dispenser could revolutionize the lifestyle of the Baker, of which many before dawn get up to go to work. With the machine, she could in a little sleep, he says.

In contrast to bakery fresh bread, this baguettes are precooked, a technique, industrial, high-volume bread maker, the vendors French at many provide. Pike calls it "a good compromise". The machine has at the same time in a room cool store approximately 120 baguettes.

Customers get no choice. The machine churns out only one product: a hard crust "tradition" style loaf - a poet and crispy cousin of the standard baguette. Everything not sold out after 72 hours thrown.

Innovators have for many years to develop baguette dealer, but no one has yet managed according to the officials at the Paris bakers Union. Earlier attempts hit problems inventory management, wet or warm bread served or not win great attractiveness.

Which were an associated press Newsroom taste test reviews especially favorable, from "Is it good!", "I never would have thought that it came from a donor" to "The crust is a bit soft."

However, French skeptics were in force.

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"For me it is not even baked bread." It has not kneaded and baked at the point of sale - by definition, it is a machine, "Marc Nexhip of the Union said the Paris bakers, who admits he is not yet nor tried."I am not convinced that the good taste in the course of time can be maintained. Maybe for 15 minutes - but not for several hours. "

"It is certainly convenient - but it's just not quite the same as fresh bread," a 31-year-old pharmacy said Tiphaine Ath, technicians, according to a collection in Paris for lunch. "Is five seconds, and it prepared?" "I have my doubts."

But for Pike, it is with the time change.

"It's like with banks: before each, a plate went;" Now, everyone used ATMs, "he said." "It will be the same with bread: today, everybody goes to the bakery." "Tomorrow they will go the baguette dispenser."

Copyright 2011 of the associated press. All rights reserved. This material cannot be published, sent, rewritten or redistributed.

Tuesday, June 7

French Minister kicks to finance campaign off IMF

French Finance Minister Christine Lagarde was in Brazil on Monday to win the support of one of the most influential emerging economies for its offer to the leadership of the International Monetary Fund.

The support of the largest economy in Latin America, which appears likely, could help, in favour of LaGarde's candidacy in the developing countries and ease dissatisfaction with the practice of choosing a European at the top of the global lender turn.


LaGarde's visit to Brazil is the first in a hastily-arranged global tour that they will take place after India, Russia, China and Saudi Arabia, competing candidate declared as with Mexican Central Bank of Chief Agustin Carstens, the only other.


"I come here, obviously, to explain, my candidacy... and I am also here to hear what to expect the Brazilian authorities from the Fund and the Managing Director," Lagarde said on arrival.

Story: Finance Minister France launches bid for IMF leadership

The resignation of Dominique Strauss-Kahn, who resigned as the IMF Chief, to defend themselves against sexual assault charges, including attempted rape, led calls from developing countries to stop the traditional European lock for the job.


Countries are strong Lagarde, argued that a European leader is crucial at a time when the IMF with the euro area the risk of Greece avoided working on their loans in default and sparking secure greater financial fallout.


South African Minister of finance Pravin mid criticized the rich nation support for Lagarde, say that it violates a decision by the G20 group of leading economies for a more open selection procedure.


Brazilian Finance Minister Guido Mantega guide on merit rather than nationality should be selected the next IMF and that the increase in the influence of emerging countries in the process be seen said this month.


Brazil has officially not on one side with two candidates but say government officials in private that the President Dilma Rousseff LaGarde secure the Administration, as long as she promises to support giving emerging economies to reform would say more in IMF decision making is inclined.


They say, it is seen with more clout, changes at the IMF as Carstens, to achieve, to push his candidacy expressed in Brazil on Wednesday. The IMF Executive Board has a June 30 deadline for picking a successor.


Mexico and Brazil have maintained relatively cool relations in recent years and have to occasionally competed economic and political leadership in Latin America.


LaGarde, which has the support of the G8 Group of leading economic powers, considered the strong favourite to win IMF job. Their main obstacle is the option of paying an investigation into their role in a 2008 legal settlement with 285 million euros (408 million dollars) to businessman Bernard Tapie, an ally of French President Nicolas Sarkozy.


She will have lunch with Mantega and Federal Reserve Chairman Alexandre Tombini before he to meet a press conference.


Neither IMF candidate is a lower profile than their outspoken meeting expected to with Rousseff, Luiz Inacio Lula because Silva has persisted.


Copyright 2011 Thomson Reuters.

Sunday, June 5

French Finance Minister throws hat in IMF ring

PARIS - French Finance Minister Christine Lagarde launched their bid, the scandal rocked the International Monetary Fund, a candidate to lead, the first woman to the Fund but increases would put on Wednesday in the life of tensions with the developing countries, the one of which to the head.

The charismatic Lagarde, which settled their career in the United States, was founded as a front runner for the job even in public.

"If I am elected I will bring all my experience as a lawyer and a Minister, a manager a woman" for the job, she said Wednesday. The IMF, which provides billion loan to that support global economy, had no woman Director since its inception in 1945.

IMF last stop managing director, Frenchman Dominique Strauss-Kahn, who last week after he was accused, the maid rape Hotel New York tries.

Story: French question sex settings by Strauss-Kahn scandal

LaGarde many European countries, including the Germany and the United Kingdom, have offered their support for one candidate. Emerging economies have to say rally but still behind a single candidate that the job should be open to non-Europeans.

The IMF has traditionally by Europeans was executed, while the World Bank was run by an American.

But IMF officials, Brazil, China, India, Russia and South Africa said in a joint statement on the eve of LaGarde's candidacy launch, which they see the choice of the next Chief wanted to be "really transparent" and merit-based.

"We think it outrageous that post reserved for a European," said Nogueira Batista, IMF Managing Director from Brazil and one of the signatories of the Joint Declaration.

However, emerging economies to a single candidate must rally even as Europe has supported LaGarde.

Jabulani Sikhakhane, spokesman for South Africa's Finance Ministry, said in response to LaGarde's candidacy, which is not on the individual candidates or their nationality. "It is about the process."

Noted Sikhakhane, that Governments world 2009 agreed, that it a transparent, merit-based process for the selection of the leaders of the global financial institutions.

The decision about the next IMF leaders is expected by the end of June. It will be made by the 24-member executive board, agency whose officials represent the 187 IMF member countries.

Not yet a candidate approved by the United States, the voting will be key in the ultimate decision. LaGarde's announcement comes shortly before President Barack Obama is coming to France for a Summit of the Group of eight industrialized nations, and the pressure on the United States to can then make a call.

Lagarde said she would focus not only on Europe, and said that the choice should be based on a candidate nationality not. "No zone by the financial crisis has spared," she said. "I would like to get the largest consensus for my candidacy."

Skillful negotiators
LaGarde's popularity is based partially on their reputation for their Deftness in international negotiations, to stabilize the world economy during the global financial crisis. She was also as instrumental in getting the IMF and the European Union agreement on rescue plans for Greece, as their debt crises the entire single euro currency Ireland and Portugal.

The 55-year old spent led the law firm Baker & McKenzie in Chicago before joining French policy in the year 2005. With very good English, a direct way and relatively untouched image seen is like a good candidate to the quickly enter the Strauss-Kahn shoes and managing Europe debt difficulties, as well as the countless continue to the other challenges for the global economy.

But potential legal problems at home have clouded her candidacy, and some French critics say she'd be a bad choice.

Ask surfaced on LaGarde's role in arbitration in 2008 for French businessman Bernard Tapie, the € 285 million ($ 449 million) sale of sportswear maker adidas won as compensation for the ill-treatment. LaGarde was Finance Minister at the time of the decision. A decision about whether an investigation, according to French media reports open June 10 is expected.

Lagarde said they "trust" theme has about that and even if the investigation goes forward, it would lead her candidacy.

She said the only other candidate who knows is Mexico's Finance Minister. She said, they have spoken and they are both like each other compete.

President of the European Commission Jose Manuel Barroso joined the chorus of Pro-LaGarde Wednesday, saying that in the international community respected and "indispensable", that the IMF the world economy to keep stable.

Copyright 2011, the associated press. All rights reserved. This material may not be published, broadcast, rewritten or distributed.

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