A dynamic e-business in Europe

Electronic business (e-business) are essential in helping European companies, especially SMEs, to take advantage of the single market, lower prices and disseminate "best in Europe" in the world, in the because they allow companies to sell to consumers and work with partners outside any premises.

E-business are more than just e-commerce, which involves buying and selling online. Companies are increasingly using more information technology and communication (ICT) to connect their processes and systems:

internally: linking departments to provide better products and more flexible services more efficiently;

with those of their suppliers, distributors and other partners, to even more effectively;

with government, to reduce administrative burdens in the public and private sectors: see the theme of e-government.

with their customers, to respond more directly to market trends and sell worldwide.

That's why e-business enabling new forms of partnership and improve both the way companies work as the products and services they offer.

i innovation resulting promotes job creation and economic growth worldwide, the outlook is particularly interesting in Europe, since, thanks to e-business, many companies, especially SMEs, may for the first time exploit the advantages of the single market.

That is why national legal systems across Europe should consider these possibilities, and that a European approach is necessary on issues as diverse as taxation, copyright, consumer protection and protection privacy - see section below Policy.

Similarly, it is through European cooperation that many technological and organizational challenges inherent in e-business can be met at best - see section below activities.

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YOUR WINDOW ON THE STATUS OF YOUR ONLINE BUSINESS

Keep full control of your business through your Online Business Center. This secure website simplifies your administrative tasks by allowing you to access all of the operations entrusted to us. Since the data displayed on your online business center is updated in real time, you always have the correct time!

A relationship of trust between all stakeholders.

For over 10 years we use management system integrated mortgage disbursements by Centria Commerce - I only have good things to say. She brings many financial benefits, thus contributing to maintain satisfactory business relationships with our partners.

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The Business Centre Online

Improved service with more choice and flexibility for business customers.

Ideal destination for business customers, the Business Center on-line (CAL) Canada Post is an environment offering simple solutions for quick and accurate business transactions.

Open 24 hours a day, 7 days a week, the CAL is always the availability of customer service and cutting edge is free!

Control products and supplies

The page control products and supplies offer a fast and convenient to home, office or warehouse. Through the online catalog containing over 100 items in a basket, order templates and the ability to check the status of your order, this section provides a purchasing process seamless and easy.

Manage My Account

The Manage My Account allows you to be aware of your accounts easily. You can view and download the details relating to your accounts, view and print copies of invoices, and pay online. Everything is online, updated and accessible, 24 hours 24.

Electronic Shipping Tools

The Electronic Shipping Tools page offers a free service allowing you to prepare your Statements of Mailing and your manifests online, reducing paperwork, saving time and improving accuracy of invoices and transactions.

Business Reply Mail

A quick, easy and safe to create and send your artwork electronically to Business Reply Mail at no charge.

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The tax on value added territorialized

After the emotion caused by the withdrawal of the amendment Laffineur, members have continued on October 23 consideration of the provisions of the draft budget law for the removal of business tax. With more good news, as the territorialisation of value added tax or the introduction of equalization mechanisms.

The compromise reached Thursday between the Minister of Economy and President of the UMP group in the National Assembly on the basis of the contribution.

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Rate method net of tax debt and flat value added rates simplified calculation

To simplify the tax calculation, reporting institutions with an annual turnover not exceeding CHF 5.02 million and a tax liability (or tax owed) of up to CHF 109'000. - Per year can use the interest method debt net tax (state 2011).

The rate of net tax liability (SOIC) are rates by industry that dramatically simplify how to count with the AFC as the amounts of input tax not need to be determined and that the administrative operations related to accounting VAT and counts are facilitated.

Instead of sending statements every three months, the method of balance tax allows for the accounts twice a year. To customers, the person subject continues to charge against the usual rates of value added tax (not the TDFN).

The TDFN are used as multipliers, that is to say that the total of all taxable sales, including VAT, is reported and multiplied by the TDFN to get the amount of VAT due.

The packages vary dramatically from 0.1% for farriers eg (value-added raw materials they buy is obviously very low) and 6.7% for temp agencies or offices translation. Currently there are 10 levels of this type.

Nearly a third of all Swiss SMEs use the simplified method of TDFN. The companies that have chosen the method of TDFN must stick for at least 1 year. Then it is possible to return to the counting method effective, it must then be retained for at least three years before returning to the method of TDFN.

Besides the method of TDFN, there are also, to count the VAT, the method of flat rates (TaF). This is for local authorities and affiliated areas such as schools and private hospitals, public transport companies, etc.., As well as associations and foundations. Unlike the method of TDFN, there is no limit of turnover tax or debt, besides the income must be reported quarterly. The values ​​of the lump-sum tax TDFN and TaF are equal.

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Count according to agreed service-cons or received (methods of accounting)

The taxable business may deduct the VAT from the Federal Tax Administration on the basis

of incoming payments (cons-benefit received)

or

of invoices for clients (cons-service agreed).

Most companies are subject to one count quarterly based on performance against agreed-because this system is based on their accounts in debtor-creditor. The disadvantage is that the tax on the value added tax on the basis of invoices, even if the payment is late (eg after 120 days from issuance of invoice). Furthermore, it should correct it after the bad debt losses and returns.

Count as cons-received performance is best suited for all small businesses do not take their accounts receivable or accounts that do not perform at open positions. Warning: this method of calculation of cons-service requires authorization from the AFC / VAT.

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Criteria for the Value Added Tax

In principle, all companies are subject to VAT, regardless of their legal form. However, if the sales of services subject to VAT (delivery and / or services) is less than CHF 100,000 per year (or £ 150,000 for sports and cultural associations and nonprofit institutions that public utility), the company is exempt from VAT.

He who does not pay tax on value added can not rely on the pre tax. Special limits of turnover for the VAT are also granted to public corporations and in cases of tax on acquisitions).

It is also possible that companies exempt from the VAT decide to submit voluntarily. This option, for example, when a sense own competitiveness suffers from competition subject to tax not subject saw a company can not deduct input tax, which must therefore be included in the selling price.

The voluntary subjection is particularly advantageous for companies that:

show an annual turnover of less than CHF 100'000. - and perform as a subcontractor or service provider for companies subject;

provide the majority of benefits abroad;

do not realize is currently no revenue, but are subject to significant tax deductions prior.

Example of a start-up:

A newly founded startup is active in research. During the startup phase of the activity and the first years of operation, no taxable turnover is achieved, but large investments in the construction of buildings and purchase of business assets are made. This company has the opportunity to freely subject to VAT during the startup phase by giving up the release of liability and can now fully deduct input tax on its investments and other expenses.

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VAT IS Value Added Tax

The value added tax (VAT) is a general consumption tax paid by the final consumer. Indeed, consumers pay VAT through the purchase of goods (clothes, cars, food, etc..) And services (haircuts, transportation, restaurant meals, etc..). It is perceived only by the federal government and used to cover general state. A company must include the tax on value added in the price of services provided and products sold in the country and pay the Confederation. In return, it may deduct from this amount the input tax paid as part of its business.

These include:

domestic tax on the invoice issued (at all stages of production / distribution and service companies in Switzerland);

acquisition tax declared by the company (services provided by companies based abroad);

the import tax (when importing objects).

VAT rates are applied as follows (state 2011):

in normal cases: 8.0% of sales;

for the accommodation sector (special rate for the provision of accommodation, including breakfast): 3.8%;

food and soft drinks, books, newspapers and magazines, medicines and access to sporting and cultural events are for the benefit of a reduced rate of 2.5% (consumer goods).

Changes result in higher rates of VAT on 1 January 2011

Deduction of input tax

For goods and services that go directly to the consumer, the tax on added value shall be entered but must be understood especially in the final price. This does not apply to business relationships: it usually works with net price plus the value added tax.

In this context, the principle of deduction of input tax plays an important role: as, during its transformation from raw material to finished product, a commodity passes through several stages where value added is taxed each time, at each stage , the creator of value may deduct the amount of tax previously paid value-added stage.

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The impact of a domain name on the development of your business opportunity

Someone comes to you and tells you he is called Jean Jeannot. If you see him again the next day, most likely you remember his name.

Now imagine if you meet someone and he tells you he is called Jean Jeannot/56328? 347.

Do you remember his name tomorrow? Impossible!

This example is a bit ridiculous, but that's exactly what the vast majority of people do in their business opportunity using the address provided by their company network.

If you use this address, which brings the visitor to the website of the opportunity, sometimes with your personal profile, you harm the development of your business opportunity.

Here's why: your home address probably looks like this: www.lenomdevotreopportunite.com/45263218526. This address is long and difficult (impossible) to remember. What do people do if they do not want the fuss? They will enter only the address of the opportunity without your numbers at the end and will end up directly on the site of the business opportunity without the tracking is done for you.

So what can you do to avoid this?

There is a simple solution which is called "domain forwarding" or redirecting a domain name.

This solution is very inexpensive, and in addition, it can help grow your network!

Here's how it works: you buy a domain name and you redirect this domain to your e-distributor of your network marketing company.

Thus, you could have a domain name www.votrenom.com and when a prospect clicks on it, it will automatically be redirected to your address www.lacompagnie.com/45789578

At least by doing this type of redirection, you will have the following advantages:

your business cards and brochures, you will have a short domain name.

Your domain name can easily be said on a answering machine message.

people can more easily remember your address.

And then the same can apply to your email address!

What makes you think more professional: votrenom1234@hotmail.com or votrenom@votrenomdedomaine.com?

Having your own domain name also allows an email that contains the same name. This sends a message of seriousness and professionalism to your clients!

So you no longer have an excuse: get your own domain name!

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Business opportunities: 7 tips to build its network of network marketing

It is important to develop its business network, that everybody knows, but we must especially focus on developing a strong team that will yield tangible results to your business opportunity. Because you will recruit to recruit an impressive number of partners in your team, without you generating income for the height!

Here are seven tips to help you build a strong network that continues to grow by itself, with your help, and that will bring you residual income for years to come.

Tip 1: Create a personal relationship with your team in your business opportunity.

Your team wants to know for whom she works so hard. A good way to create a personal relationship is to send a monthly newsletter to your associates by including tips, sales figures, lists of the best partners, news about your business opportunity. This will motivate the troops. A private forum can also be a good solution to enable all partners to discuss among themselves and exchange ideas and tips.

Tip # 2: Be available

Too often, it provides a time each week in our schedule to call prospects, but we forget to plan a time to discuss with our business associates today. If you plan a time for it every week, you will increase your success, because your team will be more active and your partners may ask you more questions.

Tip # 3: Make a contest

Each month, make two competitions: a competition for members of your business opportunity with a prize for whoever recruits the most new partners and a contest that is available to new customers / partners.

The first competition will serve to motivate your team to recruit, and create a little challenge them.

The second competition will allow your associates to stand out because they will have an additional selling point (eg if you become associated x before the month you get a chance to earn you a starter kit valued at x $.).

Tip # 4: Write Articles

Writing and publishing articles on the Internet are ways to build a strong credibility, because you can give neutral information that does not look like a sales letter. Each week, write an article and publish it on 5 sharing sites content. At the bottom of the article, put a link to your site or product opportunity. You will get free traffic to your site!

Tip # 5: Provide training

Most of your associates have any questions about products and the business plan for your company or business opportunity in itself. Take time to create some training tools specifically for them. You save time because you will not have to answer all the time the same questions, and you will provide highly effective sales tools to your associates. Furthermore, by offering this type of training, your associates will be more motivated, and everyone will do better!

Tip # 6: Be creative!

Sometimes we camped in what we find comfortable. It starts with maintaining the same 2-3 sales techniques, because it's easier than going out of his comfort zone to try new tricks.

Give yourself permission to be creative and try new techniques! Print pamphlets, bookmarks, calling cards, etc.. Try the door to door to promote your business. Concentrate on the fact to get your company rather than just the idea of ​​selling at any price.

Tip # 7: Do not let go

It is often said in the middle it takes 9 "no" before getting a "yes". It's not always true, it is possible to obtain much better results, but the important thing is to never give up. Continue your efforts in recruitment and promotion. Test techniques, keep what works and drop what does not suit you!

About the author

Stephanie Hetu is the author of "Succeeding in Network Marketing on the Internet" and the lead writer of ezine Success Network, the training center online Francophone the most comprehensive network marketing.

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Business opportunity of the month

Business opportunity of the month

Start today your container rental company and you will be at the heart of a booming industry. That can generate profits in the first year of $ 50,000 and nearly $ 200,000 the third year of operation.

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Welcome to Business Opportunities

Business opportunity presents the best web directory business opportunities. Business opportunity is the reference in the field of franchise and business opportunities. Your dream has become possible with business opportunity, We provide prospective entrepreneurs with the resources to start their business opportunities in Quebec. Business opportunity presents research tailored to your budget and your focus. If you need help from a professional in the field to complete your objectives to have a business opportunity or a business for sale, business consultants used to advise you and help.

Our search engine allows you to combine a few seconds the amount of investment you have and the industry you are interested to find business opportunities available in Quebec for you. To better understand the issues and franchise business opportunities, Business Opportunity offers a shared experience to its visitors through a large number of reference articles on franchising and business opportunities.

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The ideal partner for all your Business promotional activities

Looking for promotional items, business gifts and giveaways with or without printing? You just found the perfect supplier! With over 65 years of experience and facilities throughout Europe, IGO-POST is a market leader in printed promotional items.

That offers IGO-POST? A choice of over 1,100 quality products at competitive prices, fast delivery, a formula "one-stop-shopping" and a sense of quality and professional.

Whether promotional pens, business gifts of value, cheap items or fun stuff, you'll find in IGO-POST. You want to promote your name or brand in mailings, trade shows, seminars, events, conferences or open houses? Here you will find the ideal business gift for a successful marketing campaign. Stay in the center of attention with a promotion effective and practical!

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US small business optimism falls sharply in June

Small U.S. businesses' confidence in the economy's future declined in June by the most in two years, increasing the threat that an economic slowdown could stretch into the second half of the year.

The National Federation of Independent Business said on Tuesday its Small Business Optimism Index dropped 3 points last month to 91.4.

Eight of the index's 10 components fell, with businesses downbeat on sales, profits and hiring.

American companies slammed the brakes on hiring in the second quarter, a warning sign the recovery from the 2007-2009 recession is faltering.

Many economists think companies are holding back due to fears of Europe's debt crisis as well as U.S. government plans for severe belt tightening in 2013. The NFIB data signals confidence in the recovery continues to erode.

"It appears that the labor market softness is expected to persist for some time still," said Michael Dolega, an economist at TD Economics in Toronto.

A separate report from the Labor Department offered more hopeful signs for the economy.

Job openings in May increased 195,000, the most in five months, suggesting business is brisk enough to demand more labor, even if companies are hesitant to pull the trigger and fill openings.

A spate of weak data for everything from hiring and manufacturing to retail sales has pointed to sluggish second-quarter economic growth.

Most economists still expect growth will pick up again in the second half of the year, despite the possibilities that Europe's debt crisis could worsen or that the U.S. government might go forward with a massive belt-tightening plan.

The NFIB survey for June suggests small businesses smell trouble ahead. The drop in the index was the largest one-month fall since June 2010.

"If not a recession reading, it is surely an indication of slow growth," NFIB economist William Dunkelberg said.

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Chevy to offer refunds on 2012-13 cars

Don't like your new Chevy? Take it back for a refund.

In a move that makes car buying akin to shopping for shoes at Nordstrom, Chevrolet's "Love it or return it" offer will allow buyers to return cars for a full refund as long as the vehicles have fewer than 4,000 miles on the car.

Buyers who choose to return a vehicle will get their money back, including what they paid in sales tax on the vehicle. They will still incur some expenses such as any other taxes, licensing and registration fees and extras such as extended warranties.

Drivers won't be charged for the miles the put on the car but they will have to wait at least 30 days before they can return it.

"If you don't drive the car that long you are not really giving it a fair chance," said Afaf Farah, a Chevrolet spokeswoman.

The offer is part of a new marketing program that also includes no-haggle pricing. It's targeted at clearing out Chevrolet's remaining inventory of 2012 vehicles as it transitions to the new model year. General Motors Co., which owns the brand, also hopes the promotion will help it reverse a market-share drop by Chevrolet this year.

The return program is good on new 2012 or 2013 model-year vehicles. The promotion runs through Sept. 4. It's not the first time Chevrolet has made this kind of offer.

The brand offered a buyback program for an 11-week period in late 2009 as it sought to boost sales coming out of its bankruptcy restructuring. Only 400 buyers, or fewer than 1% of the Chevrolet purchasers during that period, returned their vehicles.

Hyundai Motor America offered a refund program when unemployment shot up in 2009 and auto sales slumped. That refund could be obtained within a year of the car's purchase, but it was not open to all consumers.

The deal covered as much as $7,500 in price depreciation on Hyundai-financed or leased vehicles for customers who lost their jobs, lost their driver's licenses because of physical disabilities or had international employment transfers.

Just 300 buyers took advantage of that offer.

But auto consultant Bob Martin of CarLab in Orange said it was an important symbol. It "set them apart as a car company doing something during a time of need for customers," he said. "But just because it worked at one car company doesn't mean it will work at another."

The Chevrolet plan appeared to be rooted in GM's belief that its cars weren't getting the market share they deserved, especially in import-oriented markets such as California, analysts said.

Chris Perry, Chevrolet global vice president of marketing, said the money-back guarantee will nudge people to try one of the cars.

"Research has shown customers respond positively to the confidence companies demonstrate with programs like this and appreciate the peace of mind that comes with knowing they have the option of being able to return their vehicle," Perry said.

The other part of the Chevrolet promotion — discount pricing that does away with the ritual car-buying negotiations — could have a bigger effect on sales.

"Many consumers like no-haggle pricing because it's a giant headache and scares a lot of consumers, since most people only haggle when acquiring two assets — real estate and cars," said Rebecca Lindland, an analyst at IHS Automotive.

It's also an efficient way to sell cars, Lindland said. Sales staff won't be tied up for long periods haggling on a price with one client, leaving them free to move on to the next potential buyer.

Buyers will get the same price General Motors offers to suppliers.

The discount is not as deep as those offered to the manufacturer's employees — a previous promotion extended to all consumers — but it should help bring buyers to showrooms, said Jesse Toprak, an analyst at TrueCar.com, an auto price information company.

"Similar programs have been quite successful in the past and we expect Chevrolet to get a decent boost from this promotion for the next couple of months," Toprak said.

The pricing deal cuts about $600 to $700 off the sticker price of a moderately equipped Cruze subcompact sedan and about $1,000 off a similarly equipped Equinox sport-utility vehicle.

Some buyers of Chevrolet models have received better deals in recent weeks, according to closed transaction data reported by TrueCar.com. Moreover, many of the discounts offered in the new program reduce the price of the car to about its average transaction price prior to the GM sales initiative, according to the data.

Chevrolet has sold 961,662 vehicles in the U.S. through the first half of this year, a 6.3% gain from the same period last year, according to Autodata Corp. During the same period, the overall auto market has grown by more than double that rate, 14.8%.

The brand has lost market share to Toyota, Chrysler, Jeep and Volkswagen nameplates. Through the first half of this year, Chevrolet had 13.2% of U.S. auto sales, down from 14.3% a year earlier.

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Job Openings in US Rose in May After April Plunge

Job openings increased in May after plunging the prior month, easing concern the U.S. job market was faltering.

The number of positions waiting to be filled climbed by 195,000 to 3.64 million, partially countering the 294,000 drop seen in April, the Labor Department said today in Washington. Another report showed confidence among small companies slumped in June.

Increasing demand for workers indicates some companies see an opportunity to expand as sales improve. At the same time, the report showed firings also picked up, indicating the European debt crisis and slowing growth in emerging markets like China may be prompting some employers to cut back.

“The labor market still looks pretty tenuous,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York. The April report “sent some worrying signals that maybe things were in free fall. You have the May report and you can see businesses were turning a bit more cautious, but they weren’t completely pulling back.”

Stocks fell for a fourth day as pessimism about the earnings season grew. The Standard & Poor’s 500 Index dropped 0.8 percent to 1,341.47 at the close in New York. The yield on the benchmark 10-year Treasury note decreased to 1.50 percent from 1.51 percent late yesterday.

Elsewhere, manufacturing in the U.K. unexpectedly surged in May by the most in a year, reflecting an additional working day after a public holiday was moved to last month. In China, imports rose less than anticipated in June, pushing the trade surplus to a three-year high and adding pressure on the government to support demand as the global economy slows.

Confidence Wanes

Confidence among U.S. small companies dropped in June to its lowest point since October, driven by concern that sales and the economy will deteriorate, another report today showed.

The National Federation of Independent Business’ optimism index fell to 91.4 from 94.4 in May, the biggest monthly decline in two years. Eight of its 10 components contributed to the slump, the Washington-based group said.

“The immediate future doesn’t look good,” William Dunkelberg, the group’s chief economist, said in an interview. “Nobody really expects business conditions and consumer spending to get any better.”

The increase in job openings in May reported by the Labor Department was broad-based, led by manufacturers and state and local government agencies, according to today’s report. Only employers in the arts and entertainment industry had fewer jobs available.

Hiring Improves

Employment climbed by 148,000 to 4.36 million in May, pushing the hiring rate up to 3.3 percent from 3.2 percent the prior month. Professional and business services, which include temporary-help agencies, and health-care providers saw the biggest increases in staffing.

Catalog Spree, which developed an application for mobile devices that allows users to browse and shop in catalogs, has grown to between double and triple the size Chief Executive Officer Jaoquin Ruiz envisioned when he started the firm in April 2011. The Los Altos, California-based company now employs 16 workers, up from 3 at the start, a number that may keep expanding, Ruiz said.

“We’re going to continue hiring in order to both address our number of users in a more personalized fashion, which requires more minds at work, and our need for more content,” Ruiz said in a June 29 interview. “It is extremely challenging to find the right people.”

More Firings

Total firings, which exclude retirements and those who left their jobs voluntarily, increased to 1.89 million in May, the most since July 2010, from 1.74 million a month before, today’s report showed.

About another 2.12 million people quit their jobs in May, little changed from 2.11 million the prior month. That pushed the total separations rate to 3.3 percent, the highest since June 2010.

“Companies are hiring the minimum number of people needed to do the additional work that needs to be done,” Carl Camden, president and chief executive officer at staffing provider Kelly Services Inc. (KELYA) (KELYA), said last week on Bloomberg’s “Hays Advantage” with Kathleen Hays. “They are not making investments in new products, new ventures, new software beyond what they have to. They are not going to until there is more economic certainty, policy certainty, and the situation in Europe clears up.”

In the 12 months ended in May, the economy created a net 1.8 million jobs, representing 51.1 million hires and about 49.3 million separations, today’s report showed.

More Candidates

Considering the 12.7 million Americans who were unemployed in May, today’s figures indicate there are about 3.5 people vying for every opening, up from about 1.8 when the recession began in December 2007.

The openings report helps illuminate the dynamics behind the monthly employment figures, which were released last week.

Payrolls climbed by 80,000 workers in June, less than forecast in a Bloomberg News survey, after a revised 77,000 gain in May that was larger than initially estimated, the Labor Department said July 6. The jobless rate held at 8.2 percent.

To contact the reporter on this story: Alex Kowalski in Washington at akowalski13@bloomberg.net

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Euro wallows around two-year lows against dollar

The euro wallowed around two-year lows against the dollar on Wednesday as investors fretted about the outcome of a German court hearing on the euro zone's bailout fund, the latest hurdle for policymakers as they try to tackle the region's debt crisis.

Europe's political hurdles and investor skepticism about the region's decision-making process are likely to ensure the single currency will remain under pressure for some time, market players said.

"While the euro could see some short-term corrective moves against the dollar, it is really difficult to think of taking long positions in the coming months, considering Europe's situation," said Masashi Murata, senior currency strategist at Brown Brothers Harriman in Tokyo.

The euro was changing hands at $1.2262, with Monday's EBS two-year low of $1.2225 in sight, a break of which would open the way to a test of support at $1.20.

If that level is breached, the pair could move to test its June 2010 low of $1.1875.

The German Constitutional Court began a hearing into whether the euro zone's bailout fund, the European Stability Mechanism, and planned changes to the region's budget rules are compatible with German law. Without German backing, the ESM, which was originally meant to start on July 1, then delayed to July 9, cannot come into effect.

German Finance Minister Wolfgang Schaeuble said any significant delay in approving the ESM could lead to more market turmoil and undermine confidence in the euro zone.

The latest meeting of euro zone finance ministers this week also failed to provide much reassurance.

While the ministers agreed to grant Spain an extra year through 2014 to reach its deficit reduction targets, they did not come up with a final figure for aid for the country's ailing lenders but said some 30 billion euros would be available by the end of this month.

"Meetings come and meetings go with investors fast-learning that ensuing policy statements appear to contain still-wet ink on the parchment," said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co in New York.

The euro fell to five-week low against the yen on EBS at 97.09 yen, and last traded at 97.27 yen.

Market players said support lay at 97.02 yen, the 76.4 percent Fibonacci retracement of its June move from 95.59 yen to 101.63 yen, with bids also cited at that level.

The British pound was trading close to a 3-1/2-year high against the euro of 78.89 pence touched on Tuesday, with the common currency last at 78.98 pence.

The dollar last traded down slightly against the yen at 79.33 yen, as investors awaited the outcome of the Bank of Japan's regular two-day policy meeting beginning this session.

The Bank of Japan is expected to hold off on easing monetary policy despite easing moves last week by the central banks of Europe, Britain and China, convinced that the country's economy is still on track for a moderate recovery.

The Australian dollar also traded near an all-time high against the single currency of A$1.1974 hit on Tuesday, and was last buying A$1.2010. Against the U.S. dollar, the Aussie rose 0.2 percent to $1.0205.

The weaker euro helped support the dollar against a basket of six major rivals, with the dollar index .DXY holding ground at 83.318, down fractionally but still not far off a June 1 peak of 83.542. A break of that level would take it back to mid-2010 highs.

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MF Global Part 2? Another Brokerage Missing Over $200M In Client Funds

Looks like MF Global may not be the only firm capable of losing hundreds of millions of dollars in client money.

Regulators are going after a Chicago-based a futures brokerage saying it engaged in fraud, misused client money, violated customer fund segregation law and made false statements about its finances.

The U.S. Commodity Futures Trading Commission filed a lawsuit against Peregrine Financial Group for stating that it held $220 million in customer funds when it was actually holding just $5.1 million. The CFTC says the false information was made to the National Futures Association (NFA), a self-regulatory organization responsible for monitoring and auditing the firm for compliance with the minimum financial and related reporting requirements.

A phone call and e-mail to Peregrine was not returned.

One client of Peregrine calls the ordeal “nauseating and infuriating.” In a public letter, Attain Capital, which also had money with MF Global, says it was misled by Peregrine’s senior leadership, let down by regulators and failed by the government.

The lawsuit comes a day after the NFA hit Peregrine Financial Group with its own enforcement action which prohibits the firm from soliciting or accepting any additional customer accounts or customer funds, accepting or placing trades for any customer accounts except for the liquidation of existing customer positions and from distributing, disbursing or transferring any funds, including to existing customers, without the prior approval of NFA–in essence shutting it down.

Much like the MF Global case (where $1.6 billion is still missing) the CEO is at the center of Peregrine’s missing money ordeal. When MFGlobal announced its bankruptcy back in October the heat was on Jon Corzine who ended up resigning and then testifying before Congress members about the missing money.

At Peregrine the CFTC is holding CEO Russell R. Wasendorf responsible naming him as defendant in the suit. “From at least February 2010 through the present, PFG and Wasendorf failed to maintain adequate customer funds in segregated accounts as required by the Commodity Exchange Act and CFTC Regulations.  The Complaint further alleges that defendants made false statements in filings required by the Commission regarding funds held in segregation for customers trading on U.S. Exchanges,” the agency said today.

The CFTC says Wasendorf attempted to commit suicide yesterday, July 9, 2012. “In the aftermath of that incident, the staff of the NFA received information that Wasendorf may have falsified certain bank records,” it added.

Attain Capital says in its letter, “There was no misunderstanding. Fraud was committed. PFGBest had submitted false confirmations of account balances.  And segregated funds- ours and that of our clients- was missing…And all of this a mere months after Wasendorf, Jr. promised the world that PFGBest was no MF Global.”

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Adobe 2Q Profit Slips 2.4%, Company Trims Full-Year Revenue Target

Adobe Systems Inc.'s (ADBE) fiscal second-quarter earnings fell 2.4% as the company is transitioning to subscription services away from packaged software.

Adobe had been forecasting a quick start to 2012 after taking a $94 million charge at the end of last year linked to its shift to online applications and analytical services that make up its Creative Cloud. Now it has posted two quarters of declining earnings and reined in its full-year revenue target to growth of 6% to 7% from a previous range of 6% to 8%.

Management put some of the blame on softness in Europe, where the company generates about 29% of its revenue. Adobe also suffered from rapid adoption of subscription services that require the company to book some of the sale to deferred revenue to recognize in future quarters, not the current quarter.

"While there was some softness in Europe, we do not think that it impacts our competence both in our strategy as well as in our execution," Adobe President and Chief Executive Shantanu Narayen said on the earnings call.

The company ended the quarter with subscriptions running ahead of plan, which shifted about $10 million in revenue from the current quarter to future quarters.

"We overachieved our projection," said Mark Garrett, chief financial officer.

Shares were down 3.9% at $31.60 in late trading after closing up 26 cents at $32.89 on the Nasdaq Stock Market.

Product sales, which still represent the bulk of Adobe's revenue, rose 4.9%, while subscription revenue jumped 45.7%. Service and support revenue rose 12.1%.

"The more successful you are at converting your business to subscriptions, the more it hurts your near-term results," said analyst Pat Walravens of JMP Securities.

Adobe ended the quarter with more than 90,000 paid subscriptions. About 65% of subscribers purchased the entire suite of services, which includes popular tools such as PhotoShop. Subscriptions are available on a monthly or annual basis and the annual cost savings have led 75% of subscribers to choose it over the monthly option.

In addition to its Creative Suite, Adobe is looking to its Digital Marketing Suite for growth. Revenue in that business unit was up 35% to just under $190 million. But at the same time, revenue from two other products in the digital marketing segment--LiveCycle and Connect--trended down 18% to $61 million.

"That business is trending down pretty much as expected," said Mr. Garrett, and contrasted that with the Digital Marketing Suite that "continues to be a growth emphasis for the company." Most of the 500 employees Adobe added in the quarter are focused on sales and support of the Digital Marketing Suite, he said.

Success in selling all its subscription products increased deferred revenue to $592.8 million. About 23% of revenue Adobe posts in a quarter now comes from deferred revenue already on the balance sheet.

For the full fiscal year, Adobe narrowed its adjusted per-share earnings target to $2.40 to $2.46 from its prior view of $2.38 to $2.48.

For the current quarter, the software company forecast adjusted earnings of 56 cents to 61 cents a share on revenue of $1.08 billion to $1.13 billion. Analysts polled by Thomson Reuters predicted 61 cents and $1.13 billion, respectively.

Adobe said these targets reflect a weaker demand forecast in Europe.

Adobe is the maker of Photoshop and Illustrator design software for creative professionals and Web marketers. In November, Adobe said it would restructure its business to focus even more on digital media and digital-marketing software, resulting in the elimination of 750 jobs. These restructuring costs and other charges have weighed on Adobe's bottom line in recent quarters.

The latest quarter's results included a $70.7 million provision for income taxes, while the year-ago period's provision was $29.8 million.

For the quarter ended June 1, Adobe reported a profit of $223.9 million, down from $229.4 million in the comparable quarter a year earlier. On a per-share basis, earnings were unchanged at 45 cents. Excluding items such as stock-based compensation, amortization and income-tax adjustments, per-share earnings rose to 60 cents from 55 cents.

Revenue climbed 9.9% to $1.12 billion.

In March, the company projected a per-share profit between 57 cents and 61 cents and revenue between $1.09 billion and $1.14 billion.

Operating margin edged up to 27.1% from 27%.

Product sales, still the bulk of Adobe's revenue, climbed 4.9% while subscription revenue was up 46%. Revenue from services and support jumped 12%.

Through the close Tuesday, the stock has climbed 16% since the start of the year.

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India morning call-Global markets

Stock Markets                                                

 S&P/ASX 200    4,154.0   +26.0  NZSX 50        3,454.29  -26.1
 DJIA          12,837.33  +95.51  Nikkei         8,700.15 +66.28
 NASDAQ         2,929.76  +34.43  FTSE           5,586.31 +95.22
 S&P 500        1,357.98  +13.20  Hang Seng     19,485.54 +67.84
 SPI 200 Fut    4,157.00  +29.00  CRB Index        277.21  +3.59

 Bonds (Yield)                                                 
US 10 YR Bond     1.6146 -0.005 US 30 YR Bond     2.7244 -0.01

 Currencies                                  
 EUR US$          1.2675  1.2680  Yen US$           78.82  78.86

 Commodities                                                   
 Gold (Lon)      1620.14          Silver (Lon)     28.46       
 Gold (NY)       1621.3           Light Crude      83.90      
 ---------------------------------------------------------------
Updates with Tokyo and Hong Kong figures

    EQUITIES
    NEW YORK - U.S. stocks rose on Tuesday on hopes that the
Federal Reserve will agree to extend stimulus measures as the
economy struggles to recover and the euro zone debt crisis
worsens.
   The Dow Jones industrial average was up 95.66 points,
or 0.75 percent, at 12,837.48. The Standard & Poor's 500 Index
 was up 13.20 points, or 0.98 percent, at 1,357.98. The
Nasdaq Composite Index was up 34.43 points, or 1.19
percent, at 2,929.76. 
    For a full report, double click on
    - - - -
    LONDON - Britain's leading share index hit a six-week high
on Tuesday on growing hopes for concerted economic stimulus
measures from  central banks, with a fall in UK inflation seen
as increasing the chances of another Bank of England move.
    The FTSE 100 index closed up 95.22 points, or 1.7
percent at 5,586.31, just below the 5,600 level which was
breached briefly late afternoon for the first time since the
start of May.
    For a full report, double click on
    - - - -
    TOKYO -  Japan's Nikkei share average advanced on Wednesday
on growing speculation that the U.S. Federal Reserve will launch
a new round of stimulus to help combat slower growth and the
impact of the euro zone sovereign debt crisis.
    The Nikkei gained 0.8 percent to 8,722.15, breaking
above 8,714.78, the 23.6 percent retracement of its fall from
March 27 to June 4.
    - - - -
    Hong Kong- Shares are set to open higher on Wednesday,
helped by a 2.1 percent bounce in HSBC Holdings Plc,
but gains for the benchmark index could be limited by its
200-day moving average, which it tested earlier this week.
   The Hang Seng Index was set to open up 0.7 percent at
19,551.9, with its 200-day moving average currently at 19,591.2.
The China Enterprises Index of top locally listed
mainland firms was indicated to start up 0.6 percent.
    - - - -
    FOREIGN EXCHANGE
    SINGAPORE- The euro eased versus the dollar but clung to
much of the previous day's gains on Wednesday, with investors
focusing on whether the U.S. Federal Reserve will adopt further
monetary stimulus to support the economy's recovery.
    The euro dipped 0.1 percent to $1.2671, giving back a
bit of ground after climbing about 0.9 percent on Tuesday.
    For a full report, double click on
    - - - -
    TREASURIES
    NEW YORK - U.S. Treasury prices retreated on Tuesday as
stock market gains curbed the bid for safe-haven debt a day
before a Federal Reserve statement that may unveil new measures
to foster economic growth.
     The broad S&P 500 stock market index rose nearly 1
percent on Tuesday while benchmark U.S. 10-year notes
 fell 13/32 in price to yield 1.62 percent, up from
1.57 percent late on Monday.
    For a full report, double click on
    - - - -
    COMMODITIES
    GOLD
    SINGAPORE - Gold ticked higher on Wednesday on speculative
buying driven by hopes the U.S. Federal Reserve may extend its
long-term bond-buying programme to stimulate the economy, a move
which would boost bullion's appeal as a safe haven.
    Spot gold rose $2.99 an ounce to $1,619.59 an ounce
by 0016 GMT. Gold jumped to its highest level in 2012 of around
$1,790 in February after the Fed at the time said it would keep
interest rates near zero until the end of 2014 at the earliest.
    U.S. gold futures for August delivery fell $2.20
an ounce to $1,621.00 an ounce.
    For a full report, double click on
    - - - -
   BASE METALS
   SHANGHAI- London copper slipped on Wednesday in thin trading,
with worries lingering over Spain's debt problems and as some
investors looked to cash in on gains made the previous day.
     Three-month copper on the London Metal Exchange
had fallen 0.5 percent to $7,570 a tonne by 0126 GMT, after
rising 1.3 percent on Tuesday.
     The most-active October copper contract on the Shanghai
Futures Exchange climbed 0.7 percent to 55,070 yuan
($8,700) a tonne, catching up with previous gains in London,
after losing 0.5 percent the session before
    For a full report, double click on
    - - - -
   OIL
   SINGAPORE- Brent crude slipped under $96 a barrel on
Wednesday, staying close to 17-month lows hit the previous
session, as worries over Spain's deep borrowing costs lingered
ahead of the outcome of the U.S. Federal Reserve's policy
meeting.
    Brent oil for August delivery was down 23 cents at
$95.53 per barrel by 0152 GMT. It fell as low as $95.40 earlier,
near Tuesday's trough of $94.44, its cheapest level since Jan.
10, 2011.

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Fed Seen Extending Operation Twist While Avoiding Bond Buying

The Federal Reserve will probably decide today to expand Operation Twist beyond $400 billion to spur growth and buy protection against a deeper crisis in Europe, according to a Bloomberg News survey of economists.

Fifty-eight percent of respondents in a June 18 poll said the Fed will prolong the program, which seeks to lower borrowing costs by extending the average maturity of the securities in the central bank’s portfolio. The current program ends this month. Policy makers led by Chairman Ben S. Bernanke may conclude that growth is too feeble to reduce unemployment much further after payroll growth came close to stalling in May. At the same time, with inflation close to their 2 percent goal and the Greek election reducing the risk of a euro breakup, they may decide an additional round of quantitative easing isn’t needed for now, economists said.

“Extending Operation Twist is the path of least resistance,” said Josh Feinman, the New York-based global chief economist for DB Advisors, the Deutsche Bank AG asset management unit that oversees $232.1 billion. “It would be an extension of something we have in place, so it would be more seamless, and it doesn’t complicate exit strategies as much because it’s not expanding the balance sheet,” said Feinman, a former senior economist for the Fed Board in Washington.

The Federal Open Market Committee, which ends its two-day meeting today, will repeat in a statement that subdued inflation and economic slack will probably warrant “exceptionally low” interest rates through at least late 2014, according to 89 percent of the economists surveyed. The statement is set for release at around 12:30 p.m. in Washington. Sixty percent said the Fed probably won’t start a third round of large-scale bond purchases, or quantitative easing.
Rate Path

The Fed at 2 p.m. will release policy makers’ forecasts for unemployment, inflation and the expected path of the federal funds rate over the next several years. Bernanke plans to hold a press conference at about 2:15 p.m.

Treasuries returned 3.3 percent from the end of March to June 18, according to Bank of America Merrill Lynch’s Treasury Master index, amid concern Europe’s debt crisis was worsening and U.S. growth was slowing. The Standard & Poor’s 500 Index lost 4.1 percent, after taking account of reinvested dividends.

Since the Fed announced Operation Twist on Sept. 21, the yield on the 10-year U.S. Treasury note has fallen to 1.62 yesterday percent from 1.86 percent. It fell to a record low 1.4387 on June 1.
Stock Rally

Stocks rallied yesterday, sending the S&P 500 to the highest level in a month on speculation the Fed will announce steps to boost the economy. The S&P 500 rose 1 percent to 1,357.98 in New York.

So far under the $400 billion maturity-extension program, the Fed has shifted about $383 billion into longer-term bonds. The central bank has about $190 billion of debt with short-term maturities for continuing Operation Twist for another three months, according to calculations by Nomura Securities International Inc.

Should the Fed extend the program beyond this month, it may shift into mortgage-backed securities, in a bid to reduce the average 30-year home-loan rate from the 3.71 percent level of last week, said Stuart Hoffman, chief economist at PNC Financial Services Group Inc. in Pittsburgh.

“The economy still needs monetary stimulus, though QE3 seems to be a bridge too far,” he said. “Extending Operation Twist signals the Fed is on the job, yet it is not as aggressive as quantitative easing.”
Greek Election

Seventy-one percent of economists surveyed said the election in Greece won’t influence Fed policy, while 22 percent said the vote favoring pro-bailout parties reduced the probability of more accommodation. Sixty four economists responded to the survey.

Monthly employment gains have decelerated from a high this year of 275,000 in January. U.S. payrolls rose 69,000 in May after a 77,000 increase in April, according to data from the Labor Department. The jobless rate climbed to 8.2 percent in May from 8.1 percent the month before.

Target Corp. Chief Executive Officer Gregg Steinhafel said on a conference call last month that the Minneapolis-based retailer remains “cautious” about the U.S. expansion and is planning its business on an assumption that “the current economic recovery will continue to be slow and uneven.”

Retail sales fell 0.2 percent in May, following a similar decline in April, the U.S. Commerce Department said June 13. Sales excluding automobiles slumped by the most in two years.
Consumer Companies

Those results followed a series of disappointing annual profit forecasts from consumer companies. Procter & Gamble Co., Tiffany & Co., Lowe’s Cos. and Tempur-Pedic International Inc. cut their projections, while predictions from Lululemon Athletica Inc., Limited Brands Inc., Macy’s Inc. and Clorox Co. (CLX) trailed analysts’ estimates.

“There is too much uncertainty not to extend Operation Twist,” said Diane Swonk, chief economist in Chicago at Mesirow Financial Inc., which oversees about $61.7 billion in assets. “They need to signal their willingness to ease fairly strongly.”

Atlanta Fed President Dennis Lockhart, who votes on policy this year, described the economy in a June 6 speech as “underwhelming” and the job reports as “disappointing.” The option of prolonging Operation Twist is “on the table” he said.

The FOMC in it is post-meeting statement could voice more willingness to buy bonds if necessary, saying that it “stands ready” to adjust its balance sheet rather than that it “is prepared,” said Michael Hanson, a senior U.S. economist at Bank of America Corp. in New York.
Benchmark Rate

The Fed reduced its benchmark interest rate almost to zero in December 2008 and later bought $2.3 trillion in securities in a bid to push longer-term borrowing costs lower. In January, it said it would keep rates near zero at least through late 2014, extending an earlier pledge of mid-2013.

The Fed started Operation Twist in September. Unlike with quantitative easing, the program doesn’t increase its balance sheet. Instead, the Fed sells short-term debt and uses the proceeds to buy longer-term bonds. By keeping its assets stable, the Fed can more easily “exit” from record accommodation when the time comes.

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Business ideas to create Success Story

Four students were preparing for their trip to Italy. Everything was ready for departure when one of them thought of their many plants. Who would water them during their absence? "It is at this point that the idea of ​​starting a business was born," recalls the student in Fine Arts 30 years, co-founder of small business. It is from an idea "a joke", that these four students created a business of providing services: Caring for plants when the owners are on vacation. Since then, not only friends of plants and garden lovers this holiday service reserve, but also pet owners.

This is a company whose employees are watering the flowers and plants when their owners bask in the sun. This idea is a fun part of a summer evening and spawned a lucrative business that has a future. Before starting their business in April, the four creators Felix 27-year philosophy student, Siva 26, Lina 30 years and Evelyne 27 years, students in biology, have laminated yellow pages directory of the city. Then they searched the Internet to see if such a company existed.

"We ate quickly realized that to date no one had proposed such services. In addition to our studies, we set to work to put our idea into practice, "says Lina. Thanks to her and Evelyne, the team has the know-how. "We have knowledge of many plants and are able to advise our clients regarding the care of plants. We even know how to revive the plant problems, "say the founders.

How to find the first customers?

To draw attention to their new service, young entrepreneurs invested a few hundred euros in flyers and posters they stuck the night. He also had a car. "In the fashionable district of the city, we distributed 300 flyers (A5 size) that cost us 30 euros. The text: "We treat your houseplants and garden plants during your vacation" This attracted many world. We chose this chic here because rich people live in beautiful villas, they love plants and often go on a trip, "said Lina. The success of the operation stunned the advertising plant-sitters. "Ten customers appealed to us on the spot. We had set fire to the powder. "

An idea of ​​creation without seed money:

Through word of mouth and a report in the local press, the plant-sitters could increase the number of their client in a short time. "What was good for us was that we needed some seed capital. Only one car was essential to be mobile and flexible, "says Felix. Young entrepreneurs offered another service: they declared themselves ready to take care also of pets during the holidays of their owners. In order to overcome the requests, each of the four young entrepreneurs takes on a very specific task: Lina takes care of advertising, Felix is ​​responsible for creating the website, Siva and Evelyne will among customers. "So far, none of the treated plants had a puncture. We give our customers any warranty for the plants that we are given. Something unexpected can always happen. Our customers are also very understanding, "says a partner friends. In the file of plant-sitters are fifty customers between 27 and 72 years.

Service enjoyed by retirees,

Married couples and single people, Behold how does one request: the client calls and says how long it needs a plant-sitter. "We set an appointment immediately. The day before, it's the keys. We also agree the day when we are making, "says Felix. On average, customers entrust their keys to a period of 4 days. At the end of the mission, they pay between 50 and 60 euros for three days as an example plus a lump sum for the keys. For six months, a secretary 56 years, is a client in plant-sitters and used their service once every two months. "These guys do it very well. I travel a lot, I visit my son in the south where I make my cure. Before, I had to ask my neighbor to look after my plants and my cats.

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