International News

BNP Paribas seeks to ensure she's back? The French bank has seen its share price loosen over 50% in three months could ask for help to private investors understood the Financial Times. The bank of rue d'Antin should send in the coming days envoys to the Middle East to test the appetite of potential investors if the bank would need money, reports the British newspaper.

Reuters indicates that other French banks have also started negotiations with Qatar for an investment of this type. BNP Paribas and Societe Generale declined to comment this information, the Elysee either. "BNP Paribas leads naturally as road shows each year to present the company and promote its work with investors around the world," said a Reuters spokesman for BNP Paribas.

According to the Financial Times, BNP Paribas might seek to raise up to EUR 2 billion from investors from Qatar and Abu Dhabi. One hypothesis, however, largely rejected by the executive director of the bank, Baudouin Prot. In an interview Thursday with the Echos, the manager believes that, for now, his group is properly capitalized. If necessary, the banker said preferred a strategy based on "a dual effort to set aside profits and reducing the size of the balance sheet" of the bank, rather than a capital increase.

And to convince the good health of his group, the leader said that BNP Paribas "announced one of the best half-year profits in its history, and works quite normally in the collection of savings and loan before adding that the bank is working normally. "Baudoin Prot said BNP Paribas' knows no other difficulty than its share price. "

The official regretted that "today, the concern of investors on the euro area and the problems of sovereign debt are that markets do not really take into account the information we give them." It must be said that the bill for the debt crisis is not insignificant for European banks. According to the IMF, they could potentially lose $ 200 billion. An amount that "does not constitute an estimate of additional capital requirements of banks," moderates the Fund.

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Diversify its funding sources to reduce dependence on banks: this is the objective of local government, at a time when bank credit is becoming scarcer. Tuesday, associations of elected officials have announced the creation of "a funding agency of local investment," the model of what is happening in Northern Europe. This vehicle will issue bonds on financial markets. It then lends to local authorities, medium and long term. To access these loans, municipalities, counties and regions in question will make a capital contribution to the agency. In a way, it is to launch "Eurobonds" across local authorities – even if the project was launched in 2009, before the debates which agitate Europe on the financing of its sovereign debt.

"Investors want to invest in the debt of French local authorities, which is very safe.But they have few means to do so, since only large communities issue bonds. We offer a suitable vehicle, "said Olivier Landel, Chief Executive of the Association of urban communities in France. Communities will therefore be the primary beneficiaries.

In addition, the agency should issue bonds at a good price. Elected officials hope that, despite the absence of government guarantee, the agency will be rated triple A by virtue of the quality of local debt (the latter must have an operating budget in balance) and mechanisms of solidarity between its members. Above all, the agency lend to municipalities, departments and regions, at a rate just higher than its own cost of funds – but different depending on the risk profile of each community. Because unlike banks, it is not intended nor need to secure substantial profits."The structure is light, with just 70 people to run," insists Jacques Pélissard, President (UMP) of the Association of Mayors of France.

Shortage of bank credit

"We hope to pass the legislation before the end of the year for the agency operates end of 2012. We are confident because the government views with favor the initiative, "said Jacques Pélissard. The first year, the agency should raise 800 million to one billion euros, sixty communities. Ultimately, elected officials are hoping that a quarter of 20 billion of annual funding needs of the communities will be ensured through it.

"The evolution of credit conditions shows that the agency is essential," says Michel Destot, Mayor (PS) in Grenoble and president of the Association of Mayors of major cities in France. In fact, the problems get worse.Haute-Savoie, St. Gervais-les-Bains had to give up an investment due to lack of adequate bank credit. A survey of the AMF, the local sector banks have responded that in 30% of the total volume requested by the communities. Some German banks come to the rescue, but this is not enough. The problem is more acute than that of toxic loans, which represent only 7 billion on a debt of 160 billion community. The government plans to use the Deposit to remedy the lack of funds.

After still closed higher Thursday evening, the U.S. stock markets remain on their momentum on Friday. In early trade, the Dow gained 0.44% to 11.484 points, the Nasdaq is 0.37% to 2617 points and the S & P 500 climbed 0.53% to 1216 points.

Investors are focused on reassuring news from Europe, as the announcement of a new agreement between central banks to provide dollar liquidity to European banks and Japanese. "This program already exists, say the analysts at Aurel BGC. The ECB offered this week, two European banks to dollar liquidity in 7 days "

Suddenly, the "four witches" today is to say the expiration of four types of futures contracts on indices and stocks, "will be addressed, according to Aurel BGC in a more serene.Recent events have reassured investors and market expectations about European officials said after the meeting of the Ecofin support actions ".

U.S. consumer debt and European

At the macroeconomic agenda of the day, the index of consumer sentiment for the month of September is expected this afternoon, 12:00 to 3:55 p.m.. But such macroeconomic indicators may well be once again overshadowed by political events related to the debt crisis and European banks.

Indeed, this Friday as European finance ministers and the U.S. Treasury Secretary Timothy Geithner, this exceptional, try to resolve their differences at a meeting of high voltage in Poland payday loan. This is to complete a second plan of aid to Greece, imperative to save the country and the euro area, whose failing health is in turmoil the entire planet.Timothy Geithner has already openly believed that Europeans should inject more funds to avoid a major crisis.

RIM collapses

On the corporate side, Research in Motion (-21.77% to 23.11 dollars), the maker of BlackBerry smartphones, collapsed after publishing quarterly results fell sharply, well below analysts' forecasts.

The rating agency Moody's said Thursday it placed under surveillance notes of the bank UBS (3.42% to 11.80 dollars) with for a potential degradation due to "weaknesses in risk management the group. "

At the heart of the news, Google (0.24% to 543.59 dollars) has purchased additional patents in 1023 the computer company IBM (0.68% to 171.38 dollars) to strengthen its portfolio and to attempt trial to deter intellectual property infringement.Google expects the other hand that the number of Internet users in India to be tripled in three years through improved access to wireless internet and at prices more affordable smartphone, reported on Friday Wall Street Journal.

Boeing (1.59% to 65.34 dollars) could finally respond to the order by Air France-KLM of 110 long-haul aircraft, including 50 firm orders, builders Boeing and European Airbus to ensure the renewal of its fleet.

This is a severe blow to Samsung and a victory for Apple. This may well be a mere confirmation of a judicial decision made in August, the pill is no less bitter for the Korean manufacturer who is outright ban the marketing of its top shelf, the Galaxy Tab 10.1. It "presents an overall appearance similar" to that of the iPad, according to the German judge seized of the matter.

Such a decision is worrying Samsung that focused on this tablet to boost this market. It means that beyond the patents on technical issues, courts are increasingly sensitive to another argument, visible to the naked eye: the appearance of the product design.The German decision comes two weeks after a Dutch court has taken a similar decision, and while litigation between Samsung and Apple are in the United States, Korea and Australia, where the Apple brand has already achieved a first favorable ruling.

For now, Samsung is still able to sell the Galaxy Tab in other European countries, and do not hesitate to do much advertising best payday advance. The Court of Düsseldorf has finally found not competent to prohibit the marketing of the Galaxy Tab across Europe. Nothing prevents Apple to take legal or other countries. The U.S. has also filed a complaint against Samsung for the same reasons, September 8 in Japan.

This offensive against Samsung, which is otherwise also one of its major suppliers, enabling Apple to establish its supremacy on the market shelves, which he holds from 70 to 80% with both iPad.The Galaxy Tab 10.1 was seen as the most serious rival. By preventing the market, Apple terminated the debate … that takes a different turn on the Internet, with netizens concerned about the relentlessness of Apple, who made his reputation by being the anti hegemony of Microsoft, which builds on present its own hegemony with a lot of trial and eco closed system.

An uncompromising report. For over a year, dozens of officials, led by the Audit Office, analyzed the tax and social niches, as a result of a mission request François Fillon. "The total amount of tax expenditures and social niches weighs heavily on public finances. Their development can also affect the readability of the tax and benefit system, and the fair distribution of public office, "wrote the Prime Minister.

• Krys up big on Sun's

With Ray-Ban sunglasses, Sonia Rykiel or Armani 20% to 25% cheaper than the competition, the optician's Mon has seduced those who care about their spending, not to mention fashion. The group teaches Krys, an industry leader, was mostly created in 2009 to "anticipate the future perspective" with the rise of Internet players, the price will weigh more in the choice of this product . Fifteen stores Mon's, which also offer own branded glasses, are open this year, bringing the total to 30, while Krys already provides 200 points of sale in 2015.

• Total station experiences cheap

For over a year, the oil company is testing stations at low prices: 35 sites at baseline and 45 today – a fleet of approximately 2,000 outlets in total teaching, both in that city rural areas.Prices are likely to compete with supermarkets. For now, the group has not yet decided whether to extend the scheme. It will decide by the end of the year. The stations are scratched Total test, but it is not excluded that the group, he continues the adventure, is launching a new brand.

• Banks and insurers are betting on the Internet

They reject the term "low cost", but apply much revenue. In recent years, banks and insurance companies through subsidiaries disclaim Internet offerings of financial services at bargain prices and a la carte. ING Direct, the subsidiary of Dutch bank insurer, launched in 1997 this model of online banking. In France, Societe Generale offers a comprehensive range of services via Boursorama. Crédit Agricole target customers for its part with its private banking heritage online BforBank.As for the insurers, Groupama reserves its offer car insurance "Pay as you drive" customers of its subsidiary Amaguiz.

• Renault continues to expand the range of the Logan

Since its launch in 2004, the success of low-cost car for Renault, the only Western manufacturer to attempt the challenge, continues to grow. The group passed last year 685,000 low-cost vehicles, or 26% of its sales. Best of all, they bring him an operating margin above 6%. Logan began with the rustic to 7600 euros, the range now includes six models, the Sandero and the small 4 × 4 Duster. Originally designed for emerging countries, it paradoxically creates a strong demand in Europe, where it is marketed under the Dacia brand, produced in Romania. Tanger Factory (opening in 2012) will manufacture two new variations.Internationally, the range, made locally, is sold under the Renault brand. It is the spearhead of the group's expansion in Russia and Latin America.

• With Transavia, Air France attempting a takeoff in the low-cost

No way to leave Ryanair and easyJet monopoly on flights at bargain prices. Air France launched in spring 2007 its own low-cost airline, called Transavia, which carried 1.3 million passengers last year. From Orly-Sud, Lyon, Nantes and Marseille, eight Boeing 737-800 provide scheduled and unscheduled, mainly to the Mediterranean countries. These destinations are not served by Air France. The group does not wish to organize their own competition in order to avoid any risk of cannibalization. A draft Domestic Transavia has been abandoned.

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The response of government was quick. Thursday afternoon, members of the IEA (International Energy Agency), which includes industrialized countries, have decided to use their strategic oil stocks. One way to compensate for the lack of production Jamahiriya, the latter being blocked since February. A few hours later, the Energy Minister, Eric Besson said in a statement he wanted to Total "that any drop in oil prices is reflected at the pump." A wish welcomed by the CEO of Total, says Besson, who will make the same request to other fuel dispensers.

The decision of the IEA is not surprising. The agency warned in May that it was ready to use "all means" in case of persistent lack of production paydayloans.Specifically, it will bring to market 2 million barrels per day for a month, compared to 1.6 million barrels of Libyan production. PAGE The United States will provide half of Europe about 30%. France will contribute in proportion to its consumption, or 3.2 million barrels, equivalent to about 2% of French strategic stocks.

To some analysts, this is a "rifle-shot." Coupled with the renewed concerns about global growth, the announcement Thursday caused a decline in oil prices – about $ 8 a barrel in London and $ 6 in New York.

The Paris Bourse rebounded sharply Tuesday. At the close, the CAC 40 gained 2.04% to 3877.07 points. Markets are optimistic about the fact that the Greek Parliament will give this evening its confidence in the new government Papandreou for the implementation of its program of fiscal austerity. Greek Prime Minister called for a national agreement of political parties to adopt its austerity plan and get a new aid.

In addition, the Japanese Minister of Finance, Yoshihiko Noda, promised Tuesday that his country would continue to buy bonds from the European Financial Stability (EFSF), to help the euro area to overcome the debt crisis of some of its members. Sign of the relief the markets, the euro recovers.At the end, it was 1.4396 dollars against 1.4301 late Monday.

The markets also learn that sales of existing homes in the U.S. fell in May from 3.8% to 4.81 million units annual rate, according to figures released Tuesday by the National Association of Realtors ( NAR), slightly less than analysts had feared.

In London, the FTSE-100 index gaining 1.44 of the main values% over the closing Monday at 5,775.31 points. For its part, featuring Dax index of the Frankfurt Stock Exchange on Tuesday pressed a bar 7200 points ending up 1.89% to 7285.51 euros, against 7150.21 points the day before closing.

Maurel & Prom, Areva and derive the rating Nexans

Maurel & Prom (5.01% to 17.20 euros) sold in Canada Caroil Tuscany for $ 120 million and 29% in capital.The group posted the best performance from the coast on Tuesday.

Areva (2.06% to 26.05 euros).The Committee of European Group (CGE) Areva said Monday that Oursel Luke, the future chief executive of the specialist public of nuclear, was expected to set out his strategy for the company.

The French manufacturer Nexans cables (3.60% to 64.78 euros) announced Tuesday that it would strengthen its presence in China by acquiring 75% of the energy cable business of the Chinese Shandong Yanggu Cable, valued around 140 million (including debt).

Valeo (5% to 44.12 euros) is carried the words of its Director General Jacques Aschenbroich who welcomed the "very good first half of 2011" in an interview Monday in Paris. "Valeo increased by three to four points faster than the market "on which it operates, and the order books of Valeo exceed 12 billion euros, he said.

The IPO postponed Verallia

Saint-Gobain (2.80% to 42.58 euros) on Monday announced the postponement of the IPO of its subsidiary Verallia, a failure that symbolizes the current weakness of capital markets on fund nervousness of financial markets the Greek crisis.

Carrefour (1.68% to 27.30 euros) held a general meeting of importance on Tuesday. The slump experienced by the Carrefour share in recent days has led the meeting. The shareholders approved Tuesday in a stormy atmosphere complete the demerger of Dia, the company's French distributor discount, denounced by the unions who cry "dismantling" of the group's strategy also worried some small shareholders.

Alstom (1.20% to 42.47 euros) is developing a new model for high-speed train, the AGV II, which could run at a maximum speed of 380 to 400 km / h, according Les Echos."After the failure of the Eurostar, Alstom aims to expand its range of high-speed train for international tenders, while the competition has never been higher," said the daily.

The automaker Renault (2.92% to 38.07 euros) does not market new high-end vehicles before the end of 2014, announced the group's commercial director, Jerome Stoll.

While 200 planes were sold yesterday at the Paris Air Show, European governments are on the frontlines in defense of public aid granted to Airbus (EADS: 2.33% to 21.75 euros), challenged by Boeing and the WTO.Ministers to UK companies found that surgery was beneficial to taxpayers, at a meeting at Paris Air Show.

In addition, Eurocopter, a subsidiary of EADS, is expected to have discussions in the fall with the Ministry of Defence, who want to save money on the result of the Tiger and NH90 programs, The Tribune reported Tuesday.

The CAC 40, only Danone (-0.25% to 52.15 euros) and Pernod Ricard (-0.36% to 66.89 euros) decline.

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.

"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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