International News

Tenders for the smart grid and waste recovery, today announced the first six institutes of technology and equipment of the first wave of excellence, creation of national fund boot which will have 400 million to invest in young innovative companies … Just in recent days, the operations related to the investment program for the future have not failed! And it lasts for eighteen months …

The program, which must prepare "the France of tomorrow" will be the subject of the press conference of head of state this morning. "Nicolas Sarkozy is that this topic is important and can not talk enough about this initiative should restore the competitiveness of France," said his entourage. Yet René Ricol leads to the rod.Appointed commissioner-general for investment to drive the program, the former ombudsman of credit has one goal in mind: to create wealth and employment in France over time.

In December 2009, Nicolas Sarkozy set the priorities for the future supported by the large loan. Following the recommendations of the report Rocard-Juppe, he announced 35 billion euros of investment and ultimately rejected the idea of ​​a popular loan – a form of financing too costly at a time when the debt of France is under the eye markets. Five priorities were identified: higher education and training, research, industry and SME development and finally digital. Today, all 35 billion euros is in the hands of the public operators (ADEME, OSEO, the CDC …) that are responsible for distributing the money.

The concern comes on Wednesday in U.S. markets. At the close, the Dow Jones, who was sitting in the balance, lost 0.65% at 12,111 points, the Nasdaq 0.67% to loose 2669 points and the S & P was down 0.64% to 1287 points. On Tuesday, the New York Stock Exchange finished sharply higher.

Markets have plunged into the red after the speech of the U.S. central bank. This has lowered its growth forecast for the year and maintained its interest rates near zero.

These announcements were sealed atmosphere. But Wall Street seemed relieved by the vote of confidence of the Greek Parliament in the new government. In fact, last night, the Greek Prime Minister George Papandreou, was full of socialist votes. But despite the vote of that night, Greece remained in a serious situation.The country needs to pass before June 30, the austerity plan that provides savings of 28.4 billion and 50 billion privatization until 2015. On the foreign exchange market, the vote of confidence of the Greek Parliament supports a slight decline in the European currency. At the time of the opening, the single currency was worth 1.4402 dollars against 1.4408 late Tuesday.

In terms of oil, U.S. crude stocks fell more than expected last week, said Wednesday the U.S. Agency for Energy Information (EIA). On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for delivery in August finished at 95.41 dollars, up $ 1.24 from the previous day.

Rain orders for Boeing at Le Bourget

The U.S. aircraft manufacturer Boeing (-2.50% to 72.13 dollars) is particularly surrounding this Wednesday while orders are pouring at Paris Air Show.The U.S. should, however, is exceeded by its European rival Airbus.

Always on the side of values, after the close of Wall Street Adobe Systems (-6.26% to 30.01 dollars) announced a 54% increase in earnings in the second quarter thanks to strong demand for its software, despite a depressed economic conditions. The leading design software has reported a net profit of $ 229.4 million, or 45 cents a share, against 148.6 million (28 cents) a year earlier. Excluding items, earnings per share were 55 cents, while the consensus gave 51 cents.Revenues increased 9% to $ 1.02 billion.

Also in the technology sector, Apple (-0.81% to 322.67 dollars) could launch the new version of the iPhone in September and work on a version of the famous low-cost phone.

The search engine Google (-1.22% to 487.01 dollars) has crossed the symbolic threshold of one billion unique visitors last month. This is the first online service to achieve this level of attendance, according to data collected by comScore. Microsoft sites (-0.46% to 24.65 dollars), however, follow closely with nearly 900,000 unique visitors in May

For his part, Jabil Circuit (3.29% to 19.47 dollars) made from earnings per share in the third quarter of $ 0.58 against $ 0.57 and $ 0.25 expected last year.Turnover reached 4.23 billion dollars against 4.14 billion expected.

U.S. bank JP Morgan (-0.54% to 40.69 dollars) is ordered to pay $ 153.6 million for taking positions against one of its own customers, the fund Magnetar. The Securities and Exchange Commission (SEC), gendarme market, estimates that JPMorgan did not inform his client of positions on a lower mortgage when he invited him to invest. Also note, JP Morgan announced Wednesday the launch of its offer of "prime brokerage" services (investment funds) in Europe.

The shareholders of National Semiconductor (-0.36% to 24.65 dollars) approved the acquisition of Texas Instruments.

Western Union (-1.90% to 19.59 dollars) announced an agreement with Serviban that will allow the launch of an international service PAYMENTS Peru.

William Multrier, the CEO of Aegis Media France, leaves office. Present since 2005 in the first group of consulting and media buying in France, he was appointed head of the French subsidiary of British group Aegis in 2009. However, the leader, now forty years old, opted to develop its own projects. Indeed, it is the majority shareholder of Webedia group he founded in 2007 and home to sites like Purepeople.com, Puretrend.com, Purefans.com, but Puremedias formerly Ozap.com bought a few months ago M6. This group should post a turnover of nearly 15 million euros in 2011 and "several million" statement business cards design.Guillaume Multrier, "it became indeed difficult to be both at the head of a media agency and several activities in the media."

However, William Multrier should remain in the group until the end of the year. "I want to help customers but also help the group Aegis to organize my estate and to find my successor," he told Le Figaro.

Aegis Media France is the first French media agency, shoulder to shoulder with Havas (Havas Media). It is also one of Aegis Group's main subsidiaries, which totaled in 2010 a total turnover of 1.68 billion euros.

Asian markets are opting for the green on Tuesday. Investors do not follow the trend driven by the U.S. markets which closed Monday on a mixed note after the announcement of a new and severe degradation of the Greek debt three notches by S & P.

In Japan, the Nikkei, which had begun the day on a stable tone (+0.04%) has increased its gains during the day. At a time of closure, it rises from 1.11% to 9553 points. This good mood follows the announcement by the country's Central Bank (BoJ), keeping its key rate from 0.0% to 0.1%. Objective: To counter the negative effects of the earthquake of 11 March and deflation affect the growth of the archipelago. The BoJ also opens a new line of credit of 500 billion yen (4.4 billion euros) "for equity investment and loans secured by assets. Each bank will receive up to 50 billion yen.

The markets also welcomed the positive endorsement by the government, a bill designed to help Tokyo Electric Power (TEPCO) to compensate thousands of people affected by the nuclear disaster at Fukushima. This text, which would create an agency to handle complaints against TEPCO has yet to be adopted by Parliament. The title of the utility increases from 22.11% to 243 yen in mid-session.

Still on values, Nissan earn 2.55% to 804 yen. The manufacturer has yet announced that he would be forced to delay production in the United States of Leaf and his electric car should not hold its goals because of the consequences of the earthquake of March in Japan guaranteed high risk personal loans.

Hong Kong and Shanghai up

Elsewhere, the trend is green. The Hang Seng Stock Exchange of Hong Kong up 0.22% while the Shanghai Composite is 1.01%.Yet the macroeconomic announcements are mixed on Tuesday. Inflation of consumer prices in China accelerated in May to 5.5% year on year, according to official statistics released Tuesday, a highest in almost three years. The waiting économiqtes inflation to 5.4%. By contrast, industrial production was up by 13.3% in May over a year and investment in fixed capital rose sharply in the first five months of the year, with 25.8% increase compared to the same period of 2010.

In Korea, the Kospi followed suit and won 1.42%. The S & P is 0.17% Australian and Indian Sensex rises by 0.42%.

Oil down

In contrast, oil prices were trending down Tuesday in electronic trading in Asia, after lowering by Standard & Poor's rating of the long-term debt of Greece and the publication of figures inflation in China, analysts said.

In morning trading, a barrel of light sweet crude for July delivery lost 24 cents 97.06 dollars. That of Brent North Sea crude for delivery same retreated 17 cents to 118.93 dollars.

General mobilization. In just one week the opening of the Salon International Air and Space in Le Bourget, the site was transformed into a gigantic construction site. Some 10,000 people are at work worth tens of trades. An endless stream of 10 000 trucks carries a broom incessant. In six months, "we are building the equivalent of a town of 20,000 inhabitants has the largest restaurant in France. This temporary city for seven days receives 350,000 visitors, "says Gilles Fournier, Director General of Fair which celebrates its 49th edition.

The countdown has begun a year before. The Association of French manufacturers of aerospace and space (Gifas) entrusts its commercial arm, SIAE with l5 permanent organization of the largest airshow in the world – which takes place every two years alternating with the Farnborough event UK.The marketing of 217,000 square meters of exhibition divided between 6 halls (54,000 square meters), cottages business (35 000 sq.m.) and surface static display of aircraft (130 000 sqm) is launched. The team grows in strength and currently has 2500 people.

In January, the entire exhibition space was sold, never seen by Gifas. Exhibition Place, built in 1953, was renovated with an investment of 15 million euros. Meanwhile, the ESIS gives the kickoff of the construction giant. It starts with a shuttle trailers between Le Bourget and Chalons-en-Champagne. This town of Marne welcomes its periphery warehouses rented by SIAE order to repair, maintain and store the 350 cottages. Once conveyed to Le Bourget, they are reassembled on site. Mid-May, the assembly of the equivalent of 2 km cottage is almost completed.

They are willing delivered "naked" to exhibitors who have previously chosen from among several options: with or without terrace, with or without garden, sliding glass doors or not … On average, renting a cottage costs 30 000 euros all related services: water, Wi-Fi, electricity, telecommunications … "The interior design, decoration, catering or direct services are the responsibility of the exhibitor," said Louis Le Portz, Commissioner General of the show. The layout of the chalets, exhibition halls and pavilions begin five to six weeks before June 20 The designers are at work. Tons of carpet, furniture, carpets, curtains, decorative items, tableware, vases, … refrigerators are delivered.

The temperature rises because the clock is ticking. The risks multiply.In conjunction with the Departmental Directorate of Labour, the organizers ensure that companies and their subcontractors comply with French law. No question of allowing Chinese workers to sleep on site and work at night! Checks are also made with security companies and cleaning. Meanwhile, SIAE is recruiting a thousand people. Among them, 500 guards who work day and night to monitor the site, about 400 hosts and 200 cleaners. With staff hired for the occasion by the exhibitors, "there are more than 4000 people are ready to welcome visitors, provide catering services, and keep the premises clean," says Gilles Fournier.

Solar Impulse, guest of honor

Today, the first aircraft entered the air show and exhibition ground will arrive at Le Bourget.Not easy to "park" 150 planes and 20 helicopters but all find their place assigned in advance. This year, large birds are exposed, including two Boeing B 747-8, world premiere, 1 B 787 Dreamliner and the Airbus A 400 M military

With 1.6 T, the Solar Impulse Bertrand Piccard is a featherweight. The experimental solar device is the guest of honor at the fair. The suspense remains, since a series of incidents have forced on Saturday to make a U-turn, while in flight to Le Bourget, and return to its point of departure for Brussels. Its designer, Bertrand Piccard, however, has not given up being present.

The latest up and the ultimate "dirty rag" will take place Sunday. The festival starts tomorrow. A party whose Paris region expects 500 million economic impact.

A war is looming regulatory Does between Europe and the United States? Timothy Geithner, U.S. Treasury Secretary, has decided to establish new rules of the playing field in the financial sector, in favor of the reforms adopted by Washington in the aftermath of the crisis. In a speech in Atlanta yesterday, the manager has to understand that these new global rules should be aligned with the U.S. model. "We do what it takes to strengthen the financial system of the United States. We will do so with caution.And as we act as we rally the world ", assured the Treasury secretary, adding that he did not want" a new race to the bottom ".

Timothy Geithner has particularly stressed the need for more restrictive measures against the derivatives markets, often singled out as one of the causes of the financial crisis Online payday loans.

Last Friday, the European Union just called the U.S. move to reform its financial sector in line with the current one on the Old Continent. Michel Barnier, European Commissioner for Internal Market and Services, sent a letter to Washington.Brussels fears that U.S. banks are gaining a competitive advantage with less restrictive rules, in particular as regards the requirements in equity.

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The Organization for Economic Cooperation and Development (OECD) maintains its pressure on Switzerland and its banking secrecy. The Global Forum on transparency and exchange of tax information, which includes 101 countries, under the auspices of the OECD released Wednesday night, Bermuda, his verdict on nine countries, including France, United States, Switzerland and Singapore, two financial centers deemed opaque.

Not surprisingly, the OECD does not spare the Swiss Confederation. The report highlights several "shortcomings" of the Swiss legislation in the light of new international agreements on tax matters. In March 2009, following the UBS scandal in the United States, and under pressure from the G20, which forced the OECD to draw up lists of black and gray havens, Switzerland pledged not to oppose its banking secrecy when investigation for tax evasion.To exit the "gray list", where she had fallen at the time, the Confederation has revised most of its bilateral tax agreements – 29 new agreements have been signed since – to include the latest standards of fiscal transparency required by the OECD.

Problem: According to the OECD Global Forum, the Swiss legislation, pending approval by Parliament, is still too restrictive, preventing the de facto transfer of information on tax evaders. Indeed, the new Swiss legislation stipulate that the requesting State must have the name and address of the alleged fraudster, to avoid "blind fishing" for information.

New promises

Result: "a minority" of the new agreements are found to comply with OECD standards.Alerted this winter, it might be re-pinned to its opacity in the exchange of tax information, Switzerland has made amends, at least orally. Last February, the Ministry of Finance Helvetian committed to make adjustments in its legislation by February 2012 so that the absence of name of alleged fraudster is no longer a barrier to information sharing.

Hailed by the OECD, this new concession Bern was very badly received by the Swiss financial sector, which fears of losing the whole banking secrecy fearing further withdrawals of funds for the benefit of Asian financial centers, less scrupulous. In Switzerland, where the subject is very sensitive, conservative politicians of the UDC accuse the federal government to yield to the injunctions of Paris and Berlin.They hope that at the end of the race, a referendum will force the federal government to reconsider its promises.

Helvetic anger is even stronger than the OECD report on Singapore, released at the same time, is more lenient. The gaps relate to the authority in charge of investigations for tax evasion. According to the World Forum, this institution is not equipped with adequate investigative powers to obtain information from banks and offshore companies. Now it is to Singapore as the most hidden funds have sought refuge in Switzerland for two years.

"It is expected that several clubs are among those most indebted, go bankrupt and disappear from the elite of professional football." The diagnosis of Bastien Drut, an economist and author of the book entitled "Economics of Professional Football" (Editions la Découverte) is final.

Boosted by inflation of television rights, the "football business" has squandered the wages of players who are sometimes more than 100% revenue clubs. "The crisis will deepen the focus on players' salaries," says Vincent Chaudel, communications director Europe, Africa and Middle East at Kurt Salmon, a consulting firm.The talented players should always receive high salaries and certainly on the rise, but the clubs whose financial situation is delicate, will probably choose between lowering the average wage standard of the players, and reduce the number of players on their team " .

Reduce payroll and income diversification

The presidents of the OL, Jean-Michel Aulas, and Om, Jean-Claude Dassier, ensured that a decline in TV rights would force them to reduce their wage bill even to sell some players. "I doubt that we are seeing a real reduction in payroll in the major French clubs, says Vincent Chaudel. As the French and European teams can not do without talent, they never cease to raise wages. "

The other challenge for football clubs will be to diversify their resources.Ligue 1 clubs are too dependent on television rights which average 57% of their income. In addition, Canal + has always said he would not raise its offer. French clubs and fear for their recipes. Vincent Chaudel advance a solution. "The choice of the French model where the clubs pay part of L1 (20%) of revenue from the sale of television rights to the clubs of L2, mechanical weakening their financial competitiveness with countries that have opposed sporting and financial models . Depending on the outcome of the next tender, the French football may be forced to revise its economic model based on solidarity. "

Other contracts naming to wait

Ligue 1 clubs are catching up especially in ticketing or sponsorship deals.While Germany has an average attendance this season every weekend more than 40,000 spectators, France does not even crossed the threshold of 20,000. Hence the importance of building new stadiums or renovate the current.

Following the partnership between the club Le Mans moving to the second division and the mutual insurance company, Mutual du Mans Assurances, naming other contracts (a contract between a sports club and a society that gives its name to the stadium) are also wait. The AXA Group is well positioned to give its name to the future Grand Stadium Lille for an annual amount of 3.3 million. And in an interview figaro.fr, president of Olympique Lyonnais, Jean-Michel Aulas had stated in talks with Qatari and Russian companies for naming the next speaker of Lyon.He also suggested the names of Danone and Coca-Cola.

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Strong rebound in the Paris Bourse. The Cac 40 wins 1.32% mid-term to 4060.20 points. The previous day he had dropped 1.25% due to the deteriorating financial situation of Greece. The trend remains fragile. Investors will follow the show including six months of the Greece of a $ 1.25 billion.

Greece does not discuss additional assistance, sources said Tuesday Greek and European senior, denying a news report that suggested a new plan of 60 billion euros. This information has boosted European values ​​that are returned to the rise in the morning.

On the macroeconomic front, industrial production fell 0.9% in March, according to statistics released Tuesday by the INSEE.Analysts forecast an average 0.4% increase in industrial production.

United States, the import prices in April will be released at 14:30.

On the foreign exchange market, the euro was stable against the dollar on Tuesday. About 11:00 am in Paris, the euro was at 1.4365 dollars against 1.4358 late Monday.

Greece in big trouble, gasoline at record levels

After losing more than 2% Wednesday, financial stocks are at the party on Tuesday. Societe Generale (2.22% to 43.12 euros), Axa (+2.15% at 14.97 euros), Credit Agricole (2.14% to 10.98 euros) and BNP Paribas (+2, 10% to 54.05 euros) had the largest decreases the Cac 40.The rating agency Standard and Poor's downgraded two notches sovereign rating of Greece.

BNP Paribas is expected to formalize Wednesday Pébereau departure from the presidency of the French bank at the end of the year or early 2012, and appoint in his place the current chief executive Baudoin Prot, the Financial Times. The latter should be replaced by Jean-Laurent Bonnafé, deputy CEO of the group.

Accor: + 4.01% to 30.29 euros

CA Cheuvreux has adopted a positive opinion on value."The stock is trading at a discount of 25% compared to that of its European competitors," suggests the analyst, however, maintains its price target to 35.50 euros on the value.

Plastic Omnium: + 7.98% to € 22.60

The Plastic Omnium share is up sharply Tuesday on the Paris Stock Exchange after announcing the acquisition of Rotherma, a leading European manufacturer of underground containers quick payday loans. ROTHERM achieved a turnover of 12 million euros in 2010.

Lagardère: + 1% to 29.26 EUR

Arnaud Lagardère, general partner of Lagardere said at the meeting due to the group maintained its proposed IPO for its 20% stake in Canal +.

Saint-Gobain: + 3.01% to 47.24 euros

The group announced on Tuesday an investment of around 50 million euros in the construction of its second automotive glass plant in China, Qingdao, Shandong Province (east).

While gasoline prices breaking new records almost 1.55 euros on average, earn 1.60% to Total 41.93 euros.

JC Decaux: + 1.47% to 23.49 euros

JCDecaux has significantly exceeded its target on the first three months of 2011 by signing a growth of 7.8% of its turnover but it is more cautious for the current quarter assuming an increase of about 4%.

Saffron: + 2.02% to 26.53 euros, Thales: + 0.34% to 29.80 euros

Safran and Thales should arrive this summer with a tentative agreement on an exchange of assets in the defense wanted by the government, as the chief representative of arming Laurent Collet-Billon, in an interview Tuesday at Les Echos. In a statement, Safran confirms negotiations with Thales.

Sales and general meetings in the program

Atos Origin: -1.8% to 41.54 euros

The IT services company Atos Origin said Tuesday sales down 1.3% in the first quarter 2011 to 1.22 billion euros.For the first half, the group seeks an operating margin up 50 basis points, compared to 6% for the first half of 2010.

Eurazeo: + 1% at 56.76 euros

The investment company Eurazeo in the first quarter revenues stable at 866.8 million euros, but up 5.9% in not taking into account the base effect associated with adverse chain of budget hotels B & B Hotels, sold in 2010.

The turnover in the first quarter of Maurel et Prom, Nexity, Ruby, Alten, Assystem, Devoteam and Eutelsat (third quarter), will be announced after market close.

Note that the general meetings of ArcelorMittal, Lagardere and Havas will be held Tuesday.

In French tour operators, time is the early cancellations. Shortly after the attack that killed 16 people in the city center of Marrakech, Current Travel Agency in Paris has recorded its first withdrawal for a stay in Morocco. "Right now, we expect to learn further, perhaps to discourage strongly to reach customers," said Audrey Thuillard, an employee, who claims hold "until three or four trips per month "in this country. Ditto for the agency Solari, also based in the capital. "We have several departures scheduled soon, said her manager, Barbara Solari. Of course, we will notify our customers and there will probably withdraw.But for now, we do not close sales. "Without illusion, it considers that the fact that at least six French have died in the attack will" and against "the Kingdom of Morocco as a holiday destination .

However, if Morocco were to be shunned by tourists, the consequences could be disastrous for the economy. In fact, the sector weighs 10% of GDP and is the first post of foreign exchange earnings. Summarizing the situation, Kader Abderrahim, researcher and expert on North Africa at the Institute of International and Strategic Relations (IRIS), judge that by targeting the Jemaa el-Fna in Marrakech, tourist mecca of the city, the attack "hit the kingdom in his heart.""You can expect an ebb in the number of tourists after the bombing of the Hotel Asni in August 1994 and those in Casablanca in 2003 and 2007," he adds, noting that "the country has of years to recover. " In another context, too violent revolutions that Arab Kader Abderrahim adds that in Tunisia, "tourism has dropped by more than 50%" since the fall of President Ben Ali.

"Morocco does not have the resources of Algeria"

What seize the ambitions of the Moroccan government on tourism, which sees in this sector the main driver of growth in the years to come. Last November, he launched the "Plan 2011-2020" which aims to make this country of 32 million inhabitants "the twentieth tourist destination," as he swings around the time of the thirtieth position World Tourism Organization (UNWTO).A total of one million new jobs must be created in particular, with an annual revenue target of $ 13.15 billion, reports Les Echos. And for good reason, "Morocco is not Algeria," said Kader Abderrahim, referring to oil and gas resources of the neighbor. "Apart from a little phosphate, the country that has tourism."

Recognizing these issues, and knowing that the French weigh two million passengers over the 9.4 million that Morocco hosted last year, Alain Juppe believes that there is "no reason today to give up a trip to Morocco. " "In this region, in general, the terrorist threat is high and permanent," has justified the Foreign Minister, saying that "the Moroccan authorities are able to provide security in the country." Statements that leave no doubt the leaders of the Centre for the Study of tour operators (CETO) perplexed.Collecting 80% of tour operators of the Hexagon, the organization did not want Friday morning "not comment" on any cessation of travel to Morocco. Before you do the same ministry in the early afternoon, just noting that "all members" hold for the time their departures.