France the French Republic, is a country whose territory consists of metropolitan France in Western Europe and several overseas regions and territories. The metropolitan area of France extends from the Mediterranean Sea to the English Channel and the North Sea, from the Rhine to the Atlantic Ocean, it is bordered by Belgium and Germany to the northeast and Italy to the east, Andorra and Spain to the south. The overseas territories include French Guiana in South America and several islands in the Atlantic and Indian oceans; the country's 18 integral regions span a combined area of 643,801 square kilometres and a total population of 67.3 million. France, a sovereign state, is a unitary semi-presidential republic with its capital in Paris, the country's largest city and main cultural and commercial centre. Other major urban areas include Lyon, Toulouse, Bordeaux and Nice. During the Iron Age, what is now metropolitan France was inhabited by a Celtic people. Rome annexed the area in 51 BC, holding it until the arrival of Germanic Franks in 476, who formed the Kingdom of Francia.
The Treaty of Verdun of 843 partitioned Francia into Middle Francia and West Francia. West Francia which became the Kingdom of France in 987 emerged as a major European power in the Late Middle Ages following its victory in the Hundred Years' War. During the Renaissance, French culture flourished and a global colonial empire was established, which by the 20th century would become the second largest in the world; the 16th century was dominated by religious civil wars between Protestants. France became Europe's dominant cultural and military power in the 17th century under Louis XIV. In the late 18th century, the French Revolution overthrew the absolute monarchy, established one of modern history's earliest republics, saw the drafting of the Declaration of the Rights of Man and of the Citizen, which expresses the nation's ideals to this day. In the 19th century, Napoleon established the First French Empire, his subsequent Napoleonic Wars shaped the course of continental Europe. Following the collapse of the Empire, France endured a tumultuous succession of governments culminating with the establishment of the French Third Republic in 1870.
France was a major participant in World War I, from which it emerged victorious, was one of the Allies in World War II, but came under occupation by the Axis powers in 1940. Following liberation in 1944, a Fourth Republic was established and dissolved in the course of the Algerian War; the Fifth Republic, led by Charles de Gaulle, remains today. Algeria and nearly all the other colonies became independent in the 1960s and retained close economic and military connections with France. France has long been a global centre of art and philosophy, it hosts the world's fourth-largest number of UNESCO World Heritage Sites and is the leading tourist destination, receiving around 83 million foreign visitors annually. France is a developed country with the world's sixth-largest economy by nominal GDP, tenth-largest by purchasing power parity. In terms of aggregate household wealth, it ranks fourth in the world. France performs well in international rankings of education, health care, life expectancy, human development.
France is considered a great power in global affairs, being one of the five permanent members of the United Nations Security Council with the power to veto and an official nuclear-weapon state. It is a leading member state of the European Union and the Eurozone, a member of the Group of 7, North Atlantic Treaty Organization, Organisation for Economic Co-operation and Development, the World Trade Organization, La Francophonie. Applied to the whole Frankish Empire, the name "France" comes from the Latin "Francia", or "country of the Franks". Modern France is still named today "Francia" in Italian and Spanish, "Frankreich" in German and "Frankrijk" in Dutch, all of which have more or less the same historical meaning. There are various theories as to the origin of the name Frank. Following the precedents of Edward Gibbon and Jacob Grimm, the name of the Franks has been linked with the word frank in English, it has been suggested that the meaning of "free" was adopted because, after the conquest of Gaul, only Franks were free of taxation.
Another theory is that it is derived from the Proto-Germanic word frankon, which translates as javelin or lance as the throwing axe of the Franks was known as a francisca. However, it has been determined that these weapons were named because of their use by the Franks, not the other way around; the oldest traces of human life in what is now France date from 1.8 million years ago. Over the ensuing millennia, Humans were confronted by a harsh and variable climate, marked by several glacial eras. Early hominids led a nomadic hunter-gatherer life. France has a large number of decorated caves from the upper Palaeolithic era, including one of the most famous and best preserved, Lascaux. At the end of the last glacial period, the climate became milder. After strong demographic and agricultural development between the 4th and 3rd millennia, metallurgy appeared at the end of the 3rd millennium working gold and bronze, iron. France has numerous megalithic sites from the Neolithic period, including the exceptiona
Renault Trucks is a French commercial truck and military vehicle manufacturer with corporate headquarters at Saint-Priest near Lyon. Part of Renault, it has been owned by the Volvo Group, a Swedish multinational manufacturing company, since 2001. From its beginnings in 1978 to 2002, the company was called Renault Véhicules Industriels, from 1992 on written as Renault V. I.. Until 1999, Renault Véhicules Industriels manufactured buses. In 1956, the company Saviem was formed as a subsidiary of Renault from the combination of Renault's own truck and bus production with the manufacturers Somua and Latil. From 1957 on, Saviem was used as the brand name for the trucks and buses produced by the company; as a result of French industrial policy, in 1975 state-owned Renault acquired the truck and bus manufacturer Berliet from Citroën. In 1978, Berliet and Saviem were merged to form Renault Véhicules Industriels. Again, the old brand names were retained for two more years while the model lineups were incorporated, until in 1980 they were replaced by the name Renault.
In 1971, Saviem became a member of the Euro Truck Development Group or Club of Four, a cooperation between four European truck producers for the production of medium-sized trucks. Since 1975 the truck models resulting from this cooperation were built by Saviem and Renault until 2001, they were sold on the North American market as the Mack Mid-Liner or Manager. In 1978, PSA Group had bought Chrysler's European operations. Included in the deal were commercial vehicle operations in the UK and Spain, which at that time used the brand name Dodge. PSA however sold them on to RVI in 1983, having itself little interest in the commercial vehicle market; the newly acquired operations in the UK had their origins in the commercial vehicle branch of the Rootes Group which carried the brand names Karrier and Commer. Some of the models built there were continued in production for several years by RVI in Dunstable, who kept the Dodge brand name for these models, albeit in combination with the Renault badge. In 1988 the company was subject to a Fire Brigades Union inquirey due to 8 Dodge fire engines involved in crashes.
Until 1992 the UK division was known as Renault Truck Industries, after which it took the international Renault V. I. name. In Spain, where Renault was recognized as a local automobile producer, the Dodge trucks, developed by the manufacturer Barreiros Diesel, were rebadged as Renaults and soon after replaced by French-designed models. In 1987, Renault Véhicules Industriels took over from its parent company Renault a 42% stake in the American manufacturer Mack Trucks which became a owned subsidiary of Renault Véhicules Industriels in 1990. In 1994, RVI purchased a 34% stake in the Czech bus manufacturer Karosa, increasing its ownership to a majority 51% in 1996 and 96% in 2000. In 1997 Renault V. I. entered into a cooperation agreement with the Finnish truck producer Sisu. In 2002 the company signed a deal with the Chinese company Dongfeng Motor to manufacture engines. Renault Trucks took part in the FIA European Championship, running Renault Premium powered by 13-litre DXi13 engines; the Renault Trucks-MKR Technology team won in 2010.
The former Uruguayan plant of cars owned by Nordex S. A. in Uruguay, made since 2004 the Renault Trucks models like Midlum series. The Volvo Group invested about €2 billion to develop a new line of Renault Trucks vehicles which were introduced through 2013 replacing the previous models; as part of Renault's restructuring following privatisation in 1996, the heavy vehicles operations of bus and truck were divested. In 1999, the Renault and Karosa bus and coach operations were split off from Renault Véhicules Industriels and merged with Fiat-Iveco's bus and coach operations to form the jointly owned subsidiary Irisbus. In 2003, Irisbus became a full subsidiary of Iveco and the brand Renault on its products was replaced by the brand Irisbus. On 2 January 2001, Renault V. I. was sold to Volvo, which renamed it Renault Trucks in 2002. As a result, the mother company Renault S. A. was Volvo's biggest shareholder, with a 20% stake and voting rights, but the majority of this was sold in October 2010, leaving a 5.1% stake.
In December 2012, Renault sold its remaining shares in Volvo. The Renault Trucks Defense division is wholly owned by Renault Trucks and is based in Versailles, France, it trades on its 1975 acquisition of Berliet and claims to have over 30,000 vehicles in use around the world. Its status as the leading supplier to the French Army was put in jeopardy in 2010 when the government placed a $214m order to Italian competitor Iveco. In 2016, Volvo announced its intention of divesting Renault Trucks Defense, as part of the selling of its Government Sales division, it manufactures a range of special vehicles aimed at the defense and security markets, including the Sherpa, VAB armoured personnel carrier, AMC armoured multirole carrier and Kerax ranges. In 2006 Renault Trucks took over ACMAT, but the defence and security vehicle manufacturer retained its own name and identity. On May 24, 2018, Renault Trucks Defense was renamed as Arquus. Renault Master Renault Maxity Renault Trucks D Renault Trucks C Renault Trucks K Renault Trucks T Renault Sherpa 2 Dodge 50 Series Dodge 100 "Commando" Dodge 300 Series Renault Access, joint venture with Dennis Eagle, replaced Renault Pun
Barclays plc is a British multinational investment bank and financial services company, headquartered in London. Apart from investment banking, Barclays is organised into four core businesses: personal banking, corporate banking, wealth management, investment management. Barclays traces its origins to a goldsmith banking business established in the City of London in 1690. James Barclay became a partner in the business in 1736. In 1896, several banks in London and the English provinces, including Backhouse's Bank and Gurney's Bank, united as a joint-stock bank under the name Barclays and Co. Over the following decades, Barclays expanded to become a nationwide bank. In 1967, Barclays deployed the world's first cash dispenser. Barclays has made numerous corporate acquisitions, including of London and South Western Bank in 1918, British Linen Bank in 1919, Mercantile Credit in 1975, the Woolwich in 2000 and the North American operations of Lehman Brothers in 2008. Barclays has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index.
It has a secondary listing on the New York Stock Exchange. Qatar Holdings, an investment vehicle of the State of Qatar, is the largest shareholder of the company. According to a 2011 paper by Vitali et al. Barclays was the most powerful transnational corporation in terms of ownership and thus corporate control over global financial stability and market competition, with AXA and State Street Corporation taking the 2nd and 3rd positions, respectively. Barclays traces its origins back to 1690 when John Freame, a Quaker, Thomas Gould started trading as goldsmith bankers in Lombard Street, London; the name "Barclays" became associated with the business in 1736, when Freame's son-in-law James Barclay became a partner. In 1728 the bank moved to 54 Lombard Street, identified by the'Sign of the Black Spread Eagle', which in subsequent years would become a core part of the bank's visual identity; the Barclay family were connected both as proponents and opponents. David and Alexander Barclay were engaged in the slave trade in 1756.
David Barclay of Youngsbury, on the other hand, was a noted abolitionist, Verene Shepherd, the Jamaican historian of diaspora studies, singles out the case of how he chose to free his slaves in that colony. In 1776 the firm was styled "Barclay and Bening" and so remained until 1785, when another partner, John Tritton, who had married a Barclay, was admitted, the business became "Barclay, Bevan and Tritton". In 1896 several banks in London and the English provinces, notably Backhouse's Bank of Darlington and Gurney's Bank of Norwich, united under the banner of Barclays and Co. a joint-stock bank. Between 1905 and 1916 Barclays extended its branch network by making acquisitions of small English banks. Further expansion followed in 1918 when Barclays amalgamated with the London and South Western Bank and in 1919 when the British Linen Bank was acquired by Barclays Bank, although the British Linen Bank retained a separate board of directors and continued to issue its own bank notes. In 1925 the Colonial Bank, National Bank of South Africa and the Anglo-Egyptian Bank were amalgamated and Barclays operated its overseas operations under the name Barclays Bank – Barclays DCO.
In 1938 Barclays acquired the first Indian exchange bank, the Central Exchange Bank of India, which had opened in London in 1936 with the sponsorship of Central Bank of India. In 1941 during the Nazi Occupation of France, a branch of Barclays in Paris headed by Marcel Cheradame worked directly with the invading force. Senior officials at the bank volunteered the names of Jewish employees as well as ceding an estimated 100 Jewish bank accounts to the Nazi occupiers; the Paris branch used its funds to increase the operational power of a large quarry that helped produce steel for the Nazis. There was no evidence of contact between the head office in London and the branch in Paris during the occupation. Marcel Cheradame was kept as the branch manager. In May 1958, Barclays was the first UK bank to appoint a female bank manager. Hilda Harding managed Barclays' Hanover Square branch in London until her retirement in 1970. In 1965, Barclays established Barclays Bank of California in San Francisco. Barclays launched the first credit card in the UK, Barclaycard, in 1966.
On 27 June 1967, Barclays deployed the world's first cash machine, in Enfield. The British actor Reg Varney was the first person to use the machine. In 1969, a planned merger with Martins Bank and Lloyds Bank was blocked by the Monopolies and Mergers Commission, but the acquisition of Martins Bank on its own was permitted; that year, the British Linen Bank subsidiary was sold to the Bank of Scotland in exchange for a 25% stake, a transaction that became effective from 1971. Barclays DCO changed its name to Barclays Bank International in 1971. In August 1975, following the secondary banking crash, Barclays acquired Mercantile Credit Company. In 1980, Barclays Bank International expanded its business to include commercial credit and took over American Credit Corporation, renaming it Barclays American Corporation; the following year Barclays Bank and Barclays Bank International merged, as part of the corporate reorganisation the former Barclays Bank plc became a group holding company, renamed Barclays plc, UK retail banking was integrated under the former BBI, renamed Barclays Bank PLC from Barclays Bank Limited.
In 1986 Barclays sold its South African business operating under the Barclays National Bank name after protests against Barclays' involvement in South Africa and its apartheid government. That year Barclay
Paris is the capital and most populous city of France, with an area of 105 square kilometres and an official estimated population of 2,140,526 residents as of 1 January 2019. Since the 17th century, Paris has been one of Europe's major centres of finance, commerce, fashion and the arts; the City of Paris is the centre and seat of government of the Île-de-France, or Paris Region, which has an estimated official 2019 population of 12,213,364, or about 18 percent of the population of France. The Paris Region had a GDP of €681 billion in 2016, accounting for 31 percent of the GDP of France, was the 5th largest region by GDP in the world. According to the Economist Intelligence Unit Worldwide Cost of Living Survey in 2018, Paris was the second most expensive city in the world, after Singapore, ahead of Zurich, Hong Kong and Geneva. Another source ranked Paris as most expensive, on a par with Singapore and Hong-Kong, in 2018; the city is a major rail and air-transport hub served by two international airports: Paris-Charles de Gaulle and Paris-Orly.
Opened in 1900, the city's subway system, the Paris Métro, serves 5.23 million passengers daily, is the second busiest metro system in Europe after Moscow Metro. Gare du Nord is the 24th busiest railway station in the world, the first located outside Japan, with 262 million passengers in 2015. Paris is known for its museums and architectural landmarks: the Louvre was the most visited art museum in the world in 2018, with 10.2 million visitors. The Musée d'Orsay and Musée de l'Orangerie are noted for their collections of French Impressionist art, the Pompidou Centre Musée National d'Art Moderne has the largest collection of modern and contemporary art in Europe; the historical district along the Seine in the city centre is classified as a UNESCO Heritage Site. Popular landmarks in the centre of the city include the Cathedral of Notre Dame de Paris and the Gothic royal chapel of Sainte-Chapelle, both on the Île de la Cité. Paris received 23 million visitors in 2017, measured by hotel stays, with the largest numbers of foreign visitors coming from the United States, the UK, Germany and China.
It was ranked as the third most visited travel destination in the world in 2017, after Bangkok and London. The football club Paris Saint-Germain and the rugby union club Stade Français are based in Paris; the 80,000-seat Stade de France, built for the 1998 FIFA World Cup, is located just north of Paris in the neighbouring commune of Saint-Denis. Paris hosts the annual French Open Grand Slam tennis tournament on the red clay of Roland Garros. Paris will host the 2024 Summer Olympics; the 1938 and 1998 FIFA World Cups, the 2007 Rugby World Cup, the 1960, 1984, 2016 UEFA European Championships were held in the city and, every July, the Tour de France bicycle race finishes there. The name "Paris" is derived from the Celtic Parisii tribe; the city's name is not related to the Paris of Greek mythology. Paris is referred to as the City of Light, both because of its leading role during the Age of Enlightenment and more because Paris was one of the first large European cities to use gas street lighting on a grand scale on its boulevards and monuments.
Gas lights were installed on the Place du Carousel, Rue de Rivoli and Place Vendome in 1829. By 1857, the Grand boulevards were lit. By the 1860s, the boulevards and streets of Paris were illuminated by 56,000 gas lamps. Since the late 19th century, Paris has been known as Panam in French slang. Inhabitants are known in French as Parisiens, they are pejoratively called Parigots. The Parisii, a sub-tribe of the Celtic Senones, inhabited the Paris area from around the middle of the 3rd century BC. One of the area's major north–south trade routes crossed the Seine on the île de la Cité; the Parisii minted their own coins for that purpose. The Romans began their settlement on Paris' Left Bank; the Roman town was called Lutetia. It became a prosperous city with a forum, temples, an amphitheatre. By the end of the Western Roman Empire, the town was known as Parisius, a Latin name that would become Paris in French. Christianity was introduced in the middle of the 3rd century AD by Saint Denis, the first Bishop of Paris: according to legend, when he refused to renounce his faith before the Roman occupiers, he was beheaded on the hill which became known as Mons Martyrum "Montmartre", from where he walked headless to the north of the city.
Clovis the Frank, the first king of the Merovingian dynasty, made the city his capital from 508. As the Frankish domination of Gaul began, there was a gradual immigration by the Franks to Paris and the Parisian Francien dialects were born. Fortification of the Île-de-la-Citie failed to avert sacking by Vikings in 845, but Paris' strategic importance—with its bridges prevent
Fortune is an American multinational business magazine headquartered in New York City, United States. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon; the publication was founded by Henry Luce in 1929. The magazine competes with Forbes and Bloomberg Businessweek in the national business magazine category and distinguishes itself with long, in-depth feature articles; the magazine publishes ranked lists, including the Fortune 500, a ranking of companies by revenue that it has published annually since 1955. Fortune was founded by Time co-founder Henry Luce in 1929 as "the Ideal Super-Class Magazine", a "distinguished and de luxe" publication "vividly portraying and recording the Industrial Civilization". Briton Hadden, Luce's business partner, was not enthusiastic about the idea – which Luce thought to title Power – but Luce went forward with it after Hadden's sudden death on February 27, 1929. In late October 1929, the Wall Street Crash of 1929 occurred, marking the onset of the Great Depression.
In a memo to the Time Inc. board in November 1929, Luce wrote: "We will not be over-optimistic. We will recognize that this business slump may last as long as an entire year." The publication made its official debut in February 1930. Its editor was Luce, managing editor Parker Lloyd-Smith, art director Thomas Maitland Cleland. Single copies of the first issue cost US$1. An urban legend says that Cleland mocked up the cover of the first issue with the $1 price because no one had yet decided how much to charge. In fact, there were 30,000 subscribers who had signed up to receive that initial 184-page issue. By 1937, the number of subscribers had grown to 460,000, the magazine had turned half million dollars in annual profit. At a time when business publications were little more than numbers and statistics printed in black and white, Fortune was an oversized 11"×14", using creamy heavy paper, art on a cover printed by a special process. Fortune was noted for its photography, featuring the work of Margaret Bourke-White, Ansel Adams, others.
Walker Evans served as its photography editor from 1945 to 1965. During the Great Depression, the magazine developed a reputation for its social conscience, for Walker Evans and Margaret Bourke-White's color photographs, for a team of writers including James Agee, Archibald MacLeish, John Kenneth Galbraith, Alfred Kazin, hired for their writing abilities; the magazine became an important leg of Luce's media empire. From its launch in 1930 to 1978, Fortune was published monthly. In January 1978, it began publishing biweekly. In October 2009, citing declining advertising revenue and circulation, Fortune began publishing every three weeks. Fortune is published 14 times a year. Marshall Loeb was named managing editor in 1986. During his tenure at Fortune, Loeb was credited with expanding the traditional focus on business and the economy with added graphs and tables, as well as the addition of articles on topics such as executive life and social issues connected to the world of business, including the effectiveness of public schools and on homelessness.
During the years when Time Warner owned Time Inc. Fortune articles were hosted at CNNMoney.com. In June 2014, after Time Inc. spun off from its corporate parent, Fortune launched its own website at Fortune.com. On November 26, 2017, it was announced that Meredith Corporation would acquire Time Inc. in a $2.8 billion deal. The acquisition was completed on January 31, 2018. On November 9, 2018, it was announced that Meredith Corporation was selling Fortune to Thai billionaire Chatchaval Jiaravanon for $150 million. Jiaravanon is affiliated with the Thailand-based conglomerate Charoen Pokphand Group, which has holdings in agriculture, telecommunications, retail and finance. Fortune publishes ranked lists. In the human resources field, for example, it publishes a list of the Best Companies to Work For. Lists include companies ranked in order of gross revenue and business profile, as well as business leaders: There have been 17 top editors since Fortune was conceived in 1929. Following the elimination of the editor-in-chief role at Time Inc. in October 2013, the top editor's title was changed from "managing editor" to "editor" in 2014.
Fortune Battle of the Corporate Bands, an annual music competition for amateur company-sponsored bands List of United States magazines James S. Miller, "White-Collar Excavations: Fortune Magazine and the Invention of the Industrial Folk," American Periodicals, vol. 13, pp. 84–104. In JSTOR Official website Fortune Latinamerica Fortune India Fortune China Fortune Turkey List of 100 Best Companies to Work For "Fortune Data Store". Fortune. Time.. Complete downloadable list of Fortune 500/1000 Companies – 1955–2008
Caisse des dépôts et consignations
The Caisse des Dépôts et Consignations is a French public sector financial institution created in 1816, part of the government institutions under the control of the Parliament. Described as the "investment arm" of the French State, it is defined in the French Monetary and Financial Code as a "public group serving the public interest" and a "long-term investor". Since 2017, Éric Lombard has served as its CEO; as set out within the French Monetary and Financial Code, Caisse des Dépôts et Consignations carries out missions of public interest in support of the public policies implemented by the State and local government bodies. It contributes to the development of enterprises in line with its own proprietorial interests, may exercise competitive activities, it ensures, on behalf of the State and local authorities, missions of general interest: Management of the regulated savings funds and financing of social housing through these funds. Public Investment Bank:Bpifrance S. A.: Development of shareholding and funding for SMEs Insurance:CNP Assurances 41%: Personal Risk insurer Postal & banking network:La Poste: Local banking and postal services Real Estate:SNI 100%: Social real estate Exterimmo: 100%: financing of energy retrofitting for public buildings Icade 39%: Real estateServices:CDC Arkhineo 100%: archiving and long-term conservation of electronic data Transdev 70% Transportation Egis 75% Construction engineering SCET 100%: Project engineering company Compagnie des Alpes 40%: Leisure and accommodation Belambra clubs 34%: Leisure and accommodation France Brevet 50% CDC, 50% French State: Patent monetization and investment fund Independently of the presence of the operational subsidiaries, the Caisse des Dépôts group ensures an institutional presence internationally.
Caisse des Dépôts develops bilateral and multilateral relations with partner institutions which allow for the promotion of long-term investment and the development of investment projects in France and abroad in projects relating to the energy transition. The European level takes on a crucial importance for the Caisse des Dépôts group taking into account the drive and influence of the European Union on investments and public interventions in France. Since the Financial crisis of 2007–08, Caisse des Dépôts, along with other public financial institutions in the European Union, has undertaken the promotion of the specific model of asset management with a long term horizon. In 2009, Caisse des Dépots, Cassa Depositi e Prestiti, the European Investment Bank and Kreditanstalt für Wiederaufbau created the Long Term Investors Club with the aim of bringing together worldwide institutions to emphasis common identity as long-term investors, to encourage cooperation and to foster appropriate conditions for long-term investments.
Today the Long-Term investors Club gathers 18 financial institutions and institutional investors from G20 countries, representing a combined balance sheet total of USD 5.4 trillion. In 2011, Caisse des Dépôts and other institutional investors held a national summit on long-term investment in France. From the summit a Report was drafted and it gained momentum in the financial establishment; this led to the creation of the "task force of the Paris stock exchange on long term investment" under the guidance of former financial director of AXA insurance company Gerard de la Martiniere. Still active today, the task force is dedicated to the promotion of the model of long term investment to the institutions of the European Union on a regulatory, fiscal and prudential level. After the publication of the European Commission Green Paper on the long-term financing of the economy, in July 2013, Caisse des Dépôts, together with the European members of the Long Term investors Club, cofounded the European Long Term investors Association.
This association allows for the undertaking of joint actions in order to highlight this specific investor model with public stakeholders and the European Union. The Eltia gathers 27 European long-term financial institutions. With a combined balance sheet of €2.45 trillion, ELTIA's goal is to promote long-term investment in alignment with the objectives and initiatives developed by the European Union. Caisse des Dépôts contributes to the work of the European Parliament Intergroup on long term investment and reindustrialisation, implemented at the start of the election of the European Parliament in 2014. Marguerite FundCaisse des Dépôts is one of the investors brought together in the Marguerite Fund which combines the contributions from public institutions to create investments in Europe; the first achievements were put into operation from 2014 and the investment programme will be completed in 2016. Participation to the "Investment Pl
The Paris Opera is the primary opera and ballet company of France. It was founded in 1669 by Louis XIV as the Académie d'Opéra, shortly thereafter was placed under the leadership of Jean-Baptiste Lully and renamed the Académie Royale de Musique, but continued to be known more as the Opéra. Classical ballet as it is known today arose within the Paris Opera as the Paris Opera Ballet and has remained an integral and important part of the company. Called the Opéra National de Paris, it produces operas at its modern 2700-seat theatre Opéra Bastille which opened in 1989, ballets and some classical operas at the older 1970-seat Palais Garnier which opened in 1875. Small scale and contemporary works are staged in the 500-seat Amphitheatre under the Opéra Bastille; the company's annual budget is in the order of 200 million euros, of which 100 million come from the French state and 70 million from box office receipts. With this money, the company runs the two houses and supports a large permanent staff, which includes the orchestra of 170, a chorus of 110 and the corps de ballet of 150.
Each year, the Opéra presents about 380 performances of opera and other concerts, to a total audience of about 800,000 people, a good average seat occupancy rate of 94%. In the 2012/13 season, the Opéra presented 18 opera titles, 13 ballets, 5 symphonic concerts and two vocal recitals, plus 15 other programmes; the company's training bodies are active, with 7 concerts from the Atelier Lyrique and 4 programmes from the École de Danse. The poet Pierre Perrin began thinking and writing about the possibility of French opera in 1655, more than a decade before the official founding of the Paris Opera as an institution, he believed that the prevailing opinion of the time that the French language was fundamentally unmusical was incorrect. Seventeenth-century France offered Perrin two types of organization for realizing his vision: a royal academy or a public theater. In 1666 he proposed to the minister Colbert that "the king decree'the establishment of an Academy of Poetry and Music' whose goal would be to synthesize the French language and French music into an new lyric form."Even though Perrin's original concept was of an academy devoted to discussions of French opera, the king's intention was in fact a unique hybrid of royal academy and public theatre, with an emphasis on the latter as an institution for performance.
On 28 June 1669, Louis XIV signed the Privilège accordé au Sieur Perrin pour l'établissement d'une Académie d'Opéra en musique, & Vers François. The wording of the privilège, based in part on Perrin's own writings, gave him the exclusive right for 12 years to found anywhere in France academies of opera dedicated to the performance of opera in French, he was free to set the price of tickets. No one was to have the right of free entry including members of the royal court, no one else could set up a similar institution. Although it was to be a public theatre, it retained its status as royal academy in which the authority of the king as the primary stakeholder was decisive; the monopoly intended to protect the enterprise from competition during its formative phase, was renewed for subsequent recipients of the privilege up to the early French Revolution. As Victoria Johnson points out, "the Opera was an organization by nature so luxurious and expensive in its productions that its survival depended on financial protection and privilege."Perrin converted the Bouteille tennis court, located on the Rue des Fossés de Nesles, into a rectangular facility with provisions for stage machinery and scenery changes and a capacity of about 1200 spectators.
His first opera Pomone with music by Robert Cambert opened on 3 March 1671 and ran for 146 performances. A second work, Les peines et les plaisirs de l'amour, with a libretto by Gabriel Gilbert and music by Cambert, was performed in 1672. Despite this early success and two other associates did not hesitate to swindle Perrin, imprisoned for debt and forced to concede his privilege on 13 March 1672 to the surintendant of the king's music Jean-Baptiste Lully; the institution was renamed the Académie Royale de Musique and came to be known in France as the Opéra. Within one month Lully had convinced the king to expand the privilege by restricting the French and Italian comedians to using two singers rather than six, six instrumentalists, rather than twelve; because of legal difficulties Lully could not use the Salle de la Bouteille, a new theatre was built by Carlo Vigarani at the Bel-Air tennis court on the Rue de Vaugirard. Lully and his successors bitterly negotiated the concession of the privilege, in whole or in part, from the entrepreneurs in the provinces: in 1684 Pierre Gautier bought the authorisation to open a music academy in Marseille the towns of Lyon, Rouen and Bordeaux followed suit in the following years.
During Lully's tenure, the only works performed were his own. The first productions were the pastorale Les fêtes de l'Amour et de Bacchus and his first tragedie lyrique called Cadmus et Hermione. After Molière's death in 1673, his troupe merged with the players at the Théâtre du Marais to form the Théâtre Guénégaud, no longer needed the theatre built by Richelieu at his residence the Palais-Royal, near the Louvre. (In 1680 the troupe at the Guénégaud merged again with the players from the Hôtel de Bourgogne forming the Comédie-Fr