INTERNET: Behind the sensational debut of LinkedIn stock market, the return of bubbles?

In Champagne, there are lots of bubbles. The leaders of the social network LinkedIn for professionals have had to drink a lot yesterday, noting the dramatic increase in group action at its first trading day. But have they asked if the drink was not too strong an aftertaste of Internet bubble?

At first blush, LinkedIn has indeed something to celebrate. The California company has filled the pockets during its IPO. She succeeded on Thursday, raising $ 352 million by selling nearly 8 million shares at 45 dollars each.The group noted the purchase price the day before his arrival on the market, raising it from 32 to 45 dollars.

When quotations on Wall Street have begun, the transactions are packed. The action of LinkedIn jumped in one day by 109%. The Bourse closed with action LinkedIn to $ 98, after passing a time, the symbolic $ 100. After this crazy day, LinkedIn has a market value of $ 8.9 billion - more than 570 times its revenue in 2010.

An economic model different from Facebook

Everyone seemed to want to acquire this Thursday from the IPO, the largest for a U.S. company web since Google in 2004.LinkedIn, born in 2003, has about 100 million users. This social network is unique in that go mainly to professionals draws about half its income from the investment of vacancies.

A special feature compared to the giant Facebook which all - or almost - the money comes from advertising.LinkedIn's business model would be attractive to investors who bet on economic recovery, and its accompanying ads: more and more people will seek to recruit on the site.

LinkedIn's market performance was described by analysts as "surprising" by the New York Times or "tulip mania" in the Wall Street Journal (in reference to the explosion in the price of tulips in the Netherlands in the seventeenth century that was followed by a dramatic collapse in the value of these flowers).The newspaper said that U.S. economic LinkedIn has only 15 million dollars in profits last year.

Inflation dangerous?

This market success may indeed have a bitter taste for LinkedIn and all players in the Internet sector. The leaders of the social network may wonder if they have not been fooled by the banks - like Bank of America and Morgan Stanley - who advised them to price their work at 45 dollars and took charge of selling at this rate. Because these institutions were then forced to sell their clients the same shares at prices much higher."It is as if a real estate agent found a buyer for your home $ 1 million, and the next day allowed the new owner to sell $ 2 million," says Friday, Silicon Valley Insider, a site specialized in new technologies.

The other concern relates to the entire Internet sector. "The specter of a new bubble is more present than ever," notes the Economist in a blog post. The evolution of LinkedIn on the secondary market - where the shares traded companies before their IPO - good example of this price inflation: there is another year, it was possible to buy a stake in the social network professional for less than $ 20.Given the success of the first IPO, the value of similar businesses in the secondary market could explode. However, these companies do not generally publish information about their financial situation before their IPO.

AWARD: Glencore breaks for good with the legacy of its founder

Since Baar Swiss town of 20,000 inhabitants, the giant commodities Glencore pilot one of the most important steps in its history: its market introduction. This introduction, which should be finalized in mid-May, would allow the group to emerge between 9 and 11 billion euros. Glencore would succeed and the third largest IPO in history for a European company (after those of the German Deutsche Telekom in 1996 and Italy's Enel, 1999).

The company, which acquires its credentials in the financial markets, turn the page of his early years, under the leadership of sour Belgian businessman Marc Rich. There is no doubt that he is behind the success of Glencore.No doubt also that its leaders do not regret the departure in 1993, a man who imagined a time on the top ten most wanted by the FBI.

When Marc Rich founded in 1974, at age 40, his trading company in raw materials - Marc Rich + Co - he already has the reputation of a trader of genius. During the oil embargo decided by the Gulf States in 1973, he plays on his own - or almost - from OPEC.This Belgian then succeeds in buying oil in Iraq and Iran to sell twice as expensive in the United States.

Paranoid and hunted by the FBI

In early 1980, Marc Rich was able to get their hands on 40% of global aluminum market and "undertaker" also a large market share of the money. Marc Rich also sells, for years, oil to South Africa - while the country is on the blacklist of the world trade because of apartheid.It is with a lot of such shots, not always legal, Marc Rich made his company one of the major players in commodity markets. His methods earned him strong enemies.

But his crime, at least in the eyes of Washington, is to buy millions of barrels of oil to Iran crisis of American hostages in 1979. A fact which earned him a weapon to be prosecuted by U.S. authorities in 1983 for violating the embargo and tax evasion.Marc Rich refuses to appear and becomes hunted by the FBI, which is considered as one of the ten most wanted criminals in the world.

He continues to lead his company from the canton of Zug, Swiss tax haven, but would have lived from this time in a permanent state of paranoia, according to Daniel Ammann, a journalist who has devoted a biography called "The King of oil" , released in November 2010.

The wildest rumors begin to circulate about his lifestyle, as reported by the newspaper The Observer in May 2001. It would have to build a tunnel under his office to avoid being assassinated on his way to his favorite restaurant.In addition, Marc Rich never moves without a dozen bodyguards - all former Mossad.

The shot of (the) presidential pardon

A lifestyle wearing. In 1993, he ended up making a bad transaction that makes it lose hundreds of millions of dollars. Marc Rich is then obliged to sell its stake in Marc Rich + Co's co-shareholders, who pushed him toward the exit.

It seems so out of business and devotes part of his fortune, estimated by Forbes at $ 800 million to charitable and cultural activities. But the FBI did not forget it either. At least until the end of the term of Bill Clinton in 2001. While it does have a few more hours at the White House, he grants his forgiveness to everyone's surprise.He explained later that he received several requests by influential people, including Israeli Prime Minister Ehud Barak.

Libya: Muammar Gaddafi threatens to intensify law enforcement

AFP - Libyan leader Muammar Gaddafi faces an unprecedented popular revolt last week, vowed on Tuesday in a televised speech to restore order, wielding the threat of a bloody crackdown.

Promising to fight "until the last drop" of his blood, he called the police and army to regain control of the situation and assured that any demonstrators armed deserved "punishment."

"Make your arms immediately, otherwise there will be butchers," he said referring to a response "similar to Tiananmen," in reference to military repression of the "Beijing Spring" in June 1989 which had claimed hundreds, if not thousands dead, according to sources.

Draped in a brown tunic, his first official response since February 15, Colonel Gaddafi was speaking in front of his house bombed by the Americans in April 1986 and left for further processing.

"Muammar Gaddafi has no official position he resigned.Muammar Gaddafi is the leader of the revolution is synonymous with sacrifice until the end of days, "he said in a fiery speech of over an hour, punctuated with large hand gestures and sometimes silence and stuttering .

"All young people need to create tomorrow's defense committees of the revolution: they protect roads, bridges, airports," he said, calling on his supporters to show from Wednesday.

"No fool can cut our country into pieces," said Colonel Gaddafi, in power for over 40 years, threatening to "purge (country) house by house".

"We have not yet made use of force, but if the situation requires the use of force, we will resort," he said.

According to Human Rights Watch (HRW), the repression has already been "at least 62" dead in the capital Tripoli since Sunday.

Monday morning, HRW announced a review of at least 233 deaths since February 15, without mentioning casualties in Tripoli. The International Federation of Human Rights (FIDH) had put the figure at "300 to 400" deaths in the country.

The first bloodshed concentrated in Benghazi, the second largest city 1,000 km east of Tripoli, the capital hit Sunday night, when calm had returned to Benghazi on Monday night, according to testimony at the AFP.

According to the FIDH President, Belhassen, violence continued in the morning in Tripoli."The militias, security forces loyal to Qadhafi rampant so terrible, breaking doors, looting (...). It is impossible to remove the bodies in the streets, one gets shot," she explained to AFP.

Tunisians who fled the country told AFP nights of terror in Tripoli, Gaddafi's men and mercenaries firing in all directions, stopping, shining, raping, while the wounded were bleeding.

In the capital, many foreigners were confined to their homes. The airport was crowded, hundreds of expatriates seeking to leave the country.Many countries said on Tuesday sending planes to evacuate nationals.

The Security Council of the UN was an emergency meeting Tuesday in New York while the West calls for "swift and clear" face of repression.

Secretary of State Hillary Clinton, spoke of a "bloodbath totally unacceptable."

The Arab League announced that the participation of Libya in its meetings were suspended "until the Libyan authorities to accept the claims" of the Libyan people "and ensure his safety."

German Chancellor Angela Merkel has held the speech of Colonel Gaddafi "very frightening" and demanded "a cessation of violence", adding that otherwise Germany "would consider sanctions."

But the Europeans were divided over whether to impose sanctions, some countries fearing a backlash against their nationals on site or opening the valves of illegal immigration. Rome has said such fear that flow from 200 to 300,000 migrants fleeing Libya.

The Italian prime minister Silvio Berlusconi, whose country has very close economic relations with Libya, met with Colonel Qaddafi.

The UN High Commissioner for Human Rights, Navi Pillay called for the opening of an "independent international investigation into the violence, raising the possibility of" crimes against humanity. "

Several Libyan officials have defected to protest against violence against demonstrators, as well as diplomats abroad.

Economically, the deadly escalation in Libya, a leading global producer of black gold, pushed oil prices to levels not seen since 2008.OPEC has indicated its willingness to increase production if needed, while ensuring that the market remained well supplied.

However, the only pipeline connecting Libya to Italy and Europe was cut Tuesday.

FRANCE: Nearly 10 million French people are inadequately housed

Reuters - "A France owners, yes, but who can afford it?" This is essentially the message of the Fondation Abbé Pierre, who denounced in his annual report the character "unequal" in the current housing policy.

In a crisis marked by a rise in insecurity and the doubling of house prices in ten years, encourage the French to buy a roof can be
be risky, says the organization.

"The policy of 'any assumption' is highly questionable as subject to speculative market mechanisms, inadequate budgets of low income and very compatible with the reality of home ownership," it said in the 16th annual report Foundation Abbé Pierre.

Example given of a "budgetary and financial policy which prolongs inequality": the new loan (PTZ +) proposed non-means tested, which the government hopes it will help increase the homeownership rate in France of 58 % to 70%, the average European.

"Allowing 20% of the richest French access to the loan will cost 480 million euros to the state," lamented Patrick Doutreligne to reporters, Chief Executive of the Foundation. "This is a dogmatic choice that affects our taxes."

Are also highlighted issues of indebtedness, of social divisions and the environment, at a time when soaring prices led many new owners to stay away from downtown.

The Foundation also denounced the measures promoting evictions contained in the Act for guidance and planning for the performance of homeland security,
called "Loppsi II, which threatens the poorest, may be forced to live in tents, caves or squats.

Expulsion

"This law applies to all those who seek a solution to be able to put a roof over your head, it's crazy.It will not solve the housing crisis hits evictions, "complains Robert Christopher, Executive Assistant of the Foundation.

For the heirs of Father Pierre, housing, engulfing an average of more than a quarter of revenues of each French, should be priority candidates for the presidential election of 2012, which will submit a charter prepared for occasion.
"We want the candidates and political parties take to the fair housing needs of the French position," said Patrick Doutreligne.

"Missing 900,000 homes in France, it lacks accommodation places and meet these challenges we feel we leave to the market," he said."It is an intervention
strong public which is oriented mainly to the smaller and middle categories, which is not the case today. "

The urgency is even greater than the number of French at the threshold of poverty is increasing at the same time as inequalities: 10% of the richest households have 46% of assets, while 50% smaller 7% share.

The 2011 report on inadequate housing in France is black "to symbolize the weakness in which many families are victims of a failure or a political inertia of 30 years," wrote Chairman of the Fondation Abbé Pierre, Raymond Etienne.

In terms of proposals, the organization proposes to build 500.000 new dwellings per year to eliminate the backlog, the creation of a land law and a law
programming over five years, tax reform and more equal measures to encourage social mix.

Commission deems it appropriate to require municipalities with more than 3,500 inhabitants to build 25% of social housing, against 20% today.

Barack Obama calls for innovation in his State of the Union

Two months after the resounding defeat of his party in midterm elections, Bush has urged people to mobilize for the prosperity of the country, in his traditional speech on the state of the Union. Addressing representatives of Congress, Barack Obama made the leap to innovation and investment in education and research. He also expressed hope that Republicans and Democrats work together.

For over an hour, he outlined his policy in 2011 and was applauded repeatedly. "This is a bet that Barack Obama overall has proposed to members of Congress, said on FRANCE 24 Marjorie Spangle, co-founder of the website" I love politics. "He called for innovation in both the economic sphere, creating jobs, and political matters, he calls on all parliamentarians to work together. "

If the Senate is still a Democratic majority, the House of Representatives is dominated by Republicans since the mid-term elections (November 2010). For the first time, representatives from both sides sat side by side on Capitol Hill in Washington, and wore a ribbon in honor of Gabrielle Giffords, a Democratic congresswoman injured in the shooting of Tucson. His seat remained empty."This tragedy reminds us that we are part of a whole, the American family, which goes beyond political parties," Obama said at the outset of his speech.

"Launch our Sputnik!"

While the country is now facing an unemployment rate of 9.4%, the U.S. president has spent most of his speech on the economy. "Yes, the world has changed. The rules have changed. And for many of us, this change has been difficult to manage.I heard the frustration of Americans who have seen their salaries shrink to a trickle and their jobs disappear. "

Barack Obama has especially highlighted the growing competition from India and China - now the largest research center in the world solar industry. "This should not discourage us," he said yet. The United States still the most prosperous economies. "

To meet these challenges and create jobs, Bush has advocated the use of innovation and investment in research, information technology, infrastructure and clean energy.By comparing current America to those of the Cold War, Barack Obama said that if the Soviet Union was capable of launching the satellite Sputnik into space in 1957, the United States had then been able to create new industries and millions of jobs. "Let's launch, we too, our Sputnik!" he said.

Barack Obama has stressed the importance of education, with emphasis on the responsibility of parents and teachers. He also asked Congress to eliminate subsidies for oil companies to invest more in the future of energy. "I do not know if you noticed, but the oil companies are doing well for themselves," he said."I challenge you," he added in 2035, 80% of our electricity will be produced by clean energy sources. "

To reduce the budget deficit of $ 400 billion in coming years, Barack Obama has proposed to freeze all spending "excessive" state over a period of five years. "Republicans continue to claim the reduction of public spending, said William Meyer, FRANCE 24's correspondent in Washington. But the magnitude of this decline will surely not be sufficient for them."

"A campaign speech"

"In his speech, Barack Obama spoke of the crisis, but not negatively," said Marjorie Paillon its side.He stressed how the U.S. would sublimate these expenses, to make investments for the future. "

Steven Ekovich, professor of political science at the American University of Paris FRANCE interrogated on 24 with his State of the Union is like "largely to a campaign speech," while the presidential election will be held in 2012 the United States.

In terms of international politics, finally, Barack Obama affirmed his country's solidarity with the Tunisians. The United States "support the democratic aspirations of all peoples," he said.

He also said the terrorist network Al Qaeda "had never been under greater pressure in Pakistan," since the attacks of Sept. 11.In Afghanistan, "thanks to our heroic troops, there is less of Afghans who are in the grip of insurgents," he said. The United States will work with a fifty countries to establish "a lasting partnership" with the Afghan government. As for American soldiers, they begin to reenter the United States in July, he added.