Archive for the 'economics' Category
The CAC 40 is unable to bounce back on Monday. The benchmark index of the Paris Stock Exchange, which closed Friday on the day of a severe fall of 3.6% continues this trend. At the opening, he gave up 2.41% to 3072.51 points. The movement is the same in the rest of Europe in London, the FTSE-100 index lost 1.43%, in Frankfurt the Dax was down 2.32% and 2.22% loose up Milan.
The first global economy has fueled fears of a global slowdown by announcing Friday it had no jobs created in August, while analysts expected 70 000 net hires. "The U.S. employment figures for August suggest that the labor market seems to be moint death," said Victor Shum this morning, an analyst at Purvin and Gertz in Singapore.
Following this announcement, Wall Street closed on a sharp drop of more than 2%.U.S. markets will do on Monday with European stock any procedure they will remain closed for Labor Day (Labor Day observed every first Monday of September). "Wall Street remains closed doors, it seems unlikely that operators take the slightest risk," said Chris Weston, an analyst at IG Markets.
Asian stock markets have instead given with a negative pulse of the market in red. Operators in the region have learned that HSBC index of purchasing managers in the Chinese sector services slowed to an unprecedented low in August. Seasonally adjusted and calculated by the Institute Markit, it fell to 50.6 after 53.5 in July.
No other indicator may move the index is also expected on Monday.One highlight of the week will be the release of the Beige Book Fed on Wednesday night, which will be the summary of economic conditions in regions in the United States.
No recession expected in Europe
The side of the euro area, European Commission President Jose Manuel Barroso, has tried to reassure investors. Traveling in Australia, he said that the European economy would experience in the coming months a "moderate growth" without going into recession. "We do not anticipate a recession in Europe. The latest forecasts from the European Commission show that the growth will be at the meeting, although this growth will be moderate, it is true, "he said in Sydney.
The comments of the Head of the EU executive echoed the lowering of forecasts rating agency Standard & Poor's for the European economy last week.The decision to resurface concerns about the health of the area and the problems of sovereign debt. "We do it all, the fight against fiscal problems underlying the strengthening of the governance of the eurozone, the introduction of stricter financial regulation to improve our overall readiness" said José Manuel Barroso.
In morning trading, the euro rising slightly against the dollar at 1.4160 dollar. However, it is dropped in morning trading to a low of three weeks, at 1.4138 dollars against 1.4198 at Friday close in New York.
For their part, oil prices were down in electronic trading in Asia, depressed by the poor figures on employment in the United States.A barrel of "light sweet crude" for delivery in October lost 59 cents to 85 pay day advance.86 dollars per barrel of Brent North Sea crude for October delivery 74 cents to 111.59 dollars.
The bank attack
The President of the French Banking Federation (FBF), François Perol, recognizes the existence of tensions on the refinancing of French banks for their operations in dollars, already noted in a recent analysis by the rating agency Moody's Investors Service. In an interview with Les Echos dated Monday, he notes that if "the euro liquidity is not a problem," "the dollar refinancing is more tense."
Societe Generale lost 5.26% to 21.05 euros (largest decrease in the ACC).The bank is also penalized by the U.S. federal agency oversight of mortgage that has filed a complaint Friday against 17 major international financial institutions which include the French bank, for a total loss of $ 41 billion in bonds linked to subprime.
In its wake, BNP Paribas lost 4.98% to 31.75 euros, Crédit Agricole 3.67% to 5.95 euros and 3.09% at Axa 10.20 euros. Natixis lost 3.87% to 2.60 euros. The aerospace equipment Safran (-2.78% to 26.25 euros) will make its entry into the CAC 40 index, while the bank Natixis is about to leave, said Friday the Scientific Council of the indices of NYSE Euronext. The changes take effect Sept. 19.
Saft takes off
EDF: -2.70% to 20.38 euros
The Italian Minister of Industry, Paolo Romani, said Sunday he would meet Monday Proglio about the power company Edison.
ArcelorMittal: -2.87% to 13.72 euros
Peabody Energy and ArcelorMittal announced Monday it had extended until September 27, the period during which the short bid for $ 5 billion (3.53 billion euros) on the Australian Macarthur Coal.
Zodiac: -1.67% to 54.20 euros
The group said it had completed the acquisition of the American Heath Tecna and have reached an agreement with its banks to raise 300 million euros the amount of an existing credit line.
Schneider Electric: -4.80% to 41.89 euros
The French government intervened with the company to freeze a plan for the removal of one.000 temporary positions, the daily Liberation in its Monday edition, but the group has firmly denied to AFP such a plan.
Saft: 9.81% to 23.96 euros (largest increase in the SBF 120)
The American automotive supplier Johnson Controls will pay $ 145 million (102 million euros) to the French specialist in batteries as part of an amicable agreement ending their joint venture in the automotive industry, announced Friday the two groups in a joint statement.
Alstom: -4.07% to 29.55 euros
The group signed a 66 million euros with Iraq to build a power plant in the province of Nineveh in the north, said the Iraqi Minister of Electricity.
France Telecom: -1.87% to 12.33 euros
TPSA its Polish subsidiary has announced to contest the fine of 128 million euros that inflicted the European Commission.
After market, environment and Dried Assystem unveil their first-half results.
The mining industry in developed countries is not quite dead. Yet the crisis of 2008 had seemed to him a fatal blow, after years of attrition caused by the scarcity and soaring costs of extraction. But today, the United States, the United Kingdom, Canada … mines reopened thanks to soaring commodity prices.
Chibougamau camp, north of Montreal, had not survived the collapse of prices and had to close in 2008 after fifty years of activity. But the soaring price of copper (+47% in one year), gold (+40% in one year) and money (113% in one year) has to hope René Galipeau, CEO of Nuinsco: "Hundreds of children left when the production was closed after years of operational and financial problems.But work on only two mines could lead to the reopening of the Chibougamau camp … and the return of minors to accelerate the revival of the region. "
Nuinsco group is not the only one who had this idea. Many investors would like to reopen the largest gold mine Bontddu UK (Wales). It must be said that the price of gold rose from $ 250 per ounce in 1999 to 1850 dollars lately!
Local authorities are sometimes hostile
"When we closed the mine, it had become too expensive to operate but with the rising price of gold, we are considering reopening the Clogau mine," Wales said Ken Jones, manager of marketing Clogau Gold jewelry company which owned the rights to the mine.
Other metals are benefiting from soaring prices.Thus, the largest silver mine in the United States will also open in Texas as well as the Chino Mine (copper) in New Mexico. In Britain, the last tin mine, South Crofty Mine, closed in 1998, remember to return to activity. The metal price has increased fivefold over the period (+51% over the year).
Nevertheless, we are still far from the great return of the mining industry. Two challenges are needed to interested investors: the financing of such a project (Nuinsco believes that it would require 40 to 50 million dollars to revive the Chibougamau camp) and agreement with local authorities, sometimes hostile projects. This is the case in South Crofty in England, where the community wants to build a recreation center on the site.
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"Apple against the disadvantaged." The title of the last note on the market shelves DisplaySearch force hardly relate. Competitors of the iPad accumulate disappointments.
Motorola announced last week it sold 440,000 of its shelves Xoom in the last quarter, which is better than expected. But it has revised downward its objectives for 2011. He no longer expects to sell 2 million in the year, but between 1.3 million and 1.5 million. Even though Motorola has introduced an offer to pay 100 euros for the purchase of the tablet, initially at 579 euros. "Apple has set the benchmark price for a tablet of 16 GB Wi-Fi is 499 euros – or dollars – no more," says an analyst. And even at that price, it does not. Motorola is far from the only one to have experienced. Acer has drastically revised its ambitions.Taiwan is now focusing on the annual sales of between 2.5 million and 3 million, far 5 to 7 million initially planned. Others could follow, including RIM. The manufacturer of the BlackBerry Playbook sold 500,000 in one quarter, but sales have slowed rapidly.
The price cuts and promotions of all kinds pose another risk in the market: consumers lose the notion of "fair price".
The tablets could have been a generator margins for manufacturers, but by reviewing their rates too quickly, they may have already lost the opportunity. "Brands and retailers that compete with Apple running after him, and in their desperation, they might be digging their own graves, says a study by DisplaySearch guaranteed payday loans.This gives the impression that these products are not completely finished. "So, with 9 million iPad sold in three months without any price cut, Apple seems unassailable, fumbling away the beginnings of the iPhone and revisions price.
Fade margins
Competition does not, however, weakens. Samsung will launch two new versions of the tablet at the end of the month, the Galaxy Tab 10.1 and the Galaxy Tab 8.9. They will be sold, respectively, to 489 euros and 459 euros for the 16 GB Wi-Fi, exactly the price of an iPad. By choosing a price positioning similar to Apple, Samsung is also taking a big risk in case of commercial failure, it will have little excuse. And while the competition on the market shelves is expected to increase further by year-end.Other players will enter weight, such as Sony and Fujitsu.
Why this craze for tablets, while only Apple seems to succeed at the game? Because more and more industry players are convinced that very quickly supplant the PC shelves in homes. Joseph Reger, CTO of Fujitsu, said he was "convinced that sales of Tablet PCs will exceed those of (netbooks and notebooks) to consumers by 2016." He also said that Amazon could launch a $ 299 tablet: "A consumer could afford them two for the price of a PC." Shelves would meet the main expectations of individuals, more likely to consult the content to create. They therefore prefer the portability and ease of use. Used in any room of the house, they would disappear the concept of office. Saves space in store!
"From madness in its purest form," "a descent into hell", "a second recession" … The decision by S & P to sacrifice the "AAA" America is strong criticism from the investment community, acted unreasonably, and falls to the "worst moment", while financial markets come to wipe the worst week since the 2008 crisis . The U.S. government itself deplores the decision of the agency, marred by a miscalculation.
• John Bellows, Assistant Secretary of the Treasury
In a note posted on his blog, John Bellows has detailed the error of 2000 billion, and deplores the fact that S & P has not reconsidered its decision and has not "given an extra day to reassess carefully the analysis. (…).The size of this error, and the speed with which S & P changed its primary justification when he presented this error, raise fundamental questions about the credibility and integrity of the decision by S & P on this note, "he added.
• Warren Buffett, one of the gurus of global finance
"If there was an A + grade four, this is it I would give the United States," launched the famous billionaire 80 years on the air Fox Business News. "I do not think we (the U.S.) live a second recession," said the oracle of Omaha.
• Paul Krugman, Nobel Prize for Economics
"These people are certainly not in a position to make judgments," he was lampooned on Saturday, recalling the "AAA" distributed by S & P and its competitors to "toxic" cause of the crash world of Fall 2008.Same story with Robert Reich, former labor secretary in Bill Clinton: "The intrusion of S & P in American politics (…) is ironic because, as I noted recently, much of our debt today is directly or indirectly due to failures of S & P, "he wrote on a blog.
• Daniel Alpert, Westwood Capital founder
"The size of the economy of the United States, the wealth of their citizens and assets of the federal state itself are certainly more than adequate to repay with interest all of a few billion and 14,000 dollars of debt in the country, "said he.
• Mohamed El-Erian, head of Newport Beach
Degradation will "feed the uncertainties in the functioning of the global economy, since no other" AAA "which is able and wants to supplement or even replace the role of the United States at the center of the system Global Financial "
• Steen Jakobsen, chief economist at Saxo Bank
"Welcome to Crisis 2.0! 1.0 The crisis was the failure of the banking system to wipe the losses stemming from U.S. mortgages at risk (…).This has created a run on banks that have policies determined by moving the debt burden of the private sector to the public sector, "says he."It worked in the short term, but as seen in Europe, the market questions the ability of governments to repay their debt."
• Jean-Hervé Lorenzi, President of the Circle of economists in France
This decision is "madness in its purest form because the Americans are in their ability to repay debt one hour payday loan."
• Elie Cohen, an economist and director of research at CNRS
"In the current crisis," the degradation "adds an extra log on the fire that is taking," he laments.
• Paul Dales, analyst at Capital Economics
"The fact that Standard and Poor's has finally pulled the trigger by passing the debt rating of the United States from AAA to AA + will undoubtedly shake the financial markets opening Monday at their (…).If the mess in the markets continues, the risk of recession will increase further, "he warns.
• Ciaran O'Hagan, rates strategist at Societe Generale
"Even if it was half expected, it is a serious decision. The impact will be far reaching, "Ciaran O'Hagan omen, who fears that we have opened a" Pandora's box. " He said the decision will affect somewhat the "risk-free assets (government bonds) but the response will focus on the highest risk assets, including shares and agencies directly guaranteed by the federal government."
• Charles Wyplosz, an economics professor for Advanced Studies in Geneva
The decision by Standard and Poor's "will cause ripple effects on Spain and Italy and France put pressure (…).The euro area falls into the abyss, "he alarmed.
• Thomas Chalumeau, in Terra Nova, close to the PS
In the bond market, "we are moving towards a sustainable price increases in interest rates applied to debts of the States, the United States and Europe (…). There will be an adjustment of public expenditure by raising taxes and charges.The systematic risk of a greater austerity is to maintain unemployment at a high level, "puts it on hold.
The defense of S & P
The unprecedented deterioration of the U.S. sovereign debt "is not a sanction, much less punishment," said his part Jean-Michel Six, chief economist for Europe, Standard & Poor's.
Simply, according to David Beers, head of the department in charge of sovereign debt rating from S & P, "The downgrade reflects our view that the efficiency, stability and predictability with regard to the development policy measures and political institutions of the United States have weakened, in a time of fiscal and economic challenges that continues, even more pronounced than what we envisioned when we assigned a negative outlook to the note on 18 April 2011. "For him, "the bipartisan plan to reduce debt was not strong enough to bring long-term fiscal situation of the United States on a sound.
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"The crisis puts Europe's leaders under pressure
Still no solution. The elected representatives of the U.S. Congress again tried Sunday to reach an agreement on raising the debt ceiling, but without success. Democrats and Republicans had themselves set a target to announce progress on a plan for deficit reduction before the opening of Asian financial markets on Monday morning. The disappointment of investors is large, the Asian financial centers such as the Paris Bourse.
Secretary of State Hillary Clinton sought Monday to reassure Asian markets: "I am confident that Congress will do what is needed and will come to an agreement on the debt ceiling, and work with President Obama on measures to improve our long-term fiscal outlook, "she said in the text sent in advance of a speech in Hong Kong.
Members of both parties decided to work separately on separate projects. The chairman of the House of Representatives, Republican John Boehner, now plans to announce a plan at 14 am local time (20 hours in Paris).
"Nobody wants a failure"
John Boehner told his troops last night that no breakthrough had yet been obtained to repel the specter of a failure of the United States after August 2. According to two officials, he would have repeated in a conference call that "no one wants a failure." But he also warned his party's elected they may need to make "sacrifices" to avoid it.
Twice since Friday night, the talks between the two sides have failed to unlock the status quo on the action to start to reduce the U.S. debt.Friday night, the country experienced a further escalation in the standoff between Democrats and Republicans, they refused to pander to Barack Obama. The Democrats call indeed now $ 400 billion of additional tax increases. A change of position is unacceptable, according to John Boehner, while the two sides had previously agreed to a ceiling of one trillion dollars in additional tax revenue bad credit payday advance. Saturday evening, the President was therefore convened in emergency to four White House officials Republicans and Democrats in Congress for a new emergency meeting. But no more successful in negotiations, after 50 minutes of discussion.
Democratic side, the president believes that the 1.6 trillion cuts represent an offer "extraordinarily fair".Republican side, these efforts remain insufficient to John Boehner, who wishes to bring to 3 trillion budget savings over ten years.
Critical deadlines
Given the failure of talks between the president and elected representatives of both chambers, the compromise could eventually go through further discussion within Congress. If a common ground on removing the ceiling on debt seems likely, no party could only be satisfied with this short term solution, and discussions on the reduction of public spending should be more difficult. One observation that seems to share Timothy Geithner.
The U.S. Treasury Secretary said yesterday that there would probably have two stages for an agreement, first raising the debt ceiling and an agreement on spending cuts and a second stage of higher taxes and reforms.Whatever the timing adopted, it was also described as "unthinkable" that the United States do not meet their debt obligations. And as Barack Obama, who does not want the thorny issue of debt re-emerged during the election year ahead, Timothy Geithner wants to avert the threat of a default for at least 18 months, but at nine days the deadline of August 2, the time is now critical.
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The earthquake of March 11 in Japan can be seen in the accounts of the mobile phone manufacturer Sony Ericsson. Controlled equally by the Japanese Sony and Swedish Ericsson, the joint venture made a loss of 50 million euros in the second quarter, the first for over a year. Its turnover was also affected, falling 32% to 1.19 billion euros.
"The impact of the earthquake has had an impact on the supply chain and delivery of approximately 1.5 million product especially at the beginning of the quarter," said the Swede Bert Nordberg, CEO of Sony Ericsson. Its mobile phone sales declined to 7.6 million units. What Sony Ericsson should immerse the tenth largest in the world.
Already, the whole of 2010, the group had fallen to sixth place, because of Apple's breakthrough in the rankings, according to research firm Gartner.Then, in the first quarter, Sony Ericsson has continued its descent into hell to register for the ninth World manufacturers. The thrust of the champions of smartphones such as Apple, Samsung, Research in Motion, which manufactures the BlackBerry, and the Taiwanese HTC, very involved in the smartphone using Google's Android, partly explains the loss of land. However, even the American and Chinese ZTE Motorola went to Sony Ericsson.
Play the card Android
Xperia product line, totaling 16 million units, has been slow to be renewed, which explains the loss of land until the first quarter of 2011. However, recent losses do not affect the strategy of the joint venture. This is a "hiccup." "We do not change our goals, plans or anything.We see a great demand for our products and we approach the last two quarters in a very positive, "said the boss of Sony Ericsson. The focus on Android, the Google operating system for smartphones, the most sold in the world. Already 70% of its sales of smart phones, designed to connect to the Internet, are equipped with Google software. Sony Ericsson claims therefore about 11% of the global market segment. Bert Nordberg hopes to achieve, ultimately quarter sales of Google Phone in the world. But it does not specify when this should occur.
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Christine Lagarde keeps its promises and thus confirms the rise of China on the international economic and international. The new executive director of the International Monetary Fund (IMF) has appointed a Chinese Zhu Min, the Director-General, a third managing director created for the occasion. It will work well alongside a Japanese and an American. The Chinese were far special adviser to Dominique Strauss-Kahn.
At age 58, Min Zhu has a strong resume: he went through the World Bank, the Central Bank of China and Bank of China business establishment. He "brings a wealth of experience in administration, politics and international financial markets, but also strong leadership skills and communication, and an understanding of institutional funds, Christine Lagarde said in a statement.In his capacity as Executive Vice President, he will play a decisive role in our work, in collaboration with other members of my team and myself. "
Elected by the unit of European leaders and the agreement of the United States, Christine Lagarde has focused during his campaign for the highest office of the IMF to receive the support of emerging countries. The latter, in much better shape economically developed countries, intend to carry more weight in the decisions of the IMF, busy to participate in rescue of Greece, Portugal and Ireland.
An Obama adviser appointed
To secure the support of China (3.82% of votes in the IMF), the former French Minister of Economy visits in Beijing, hinted that it could appoint a Chinese by his side.At its inaugural press conference, she said she would continue the policy of his predecessor, Dominique Strauss-Kahn by giving more weight to emerging within the Fund.
Christine Lagarde has not forgotten the former shareholders of the Fund, namely the United States, which were the key to his appointment. She announced that David Lipton, an economic adviser to the White House, take over from his compatriot John Lipsky as Director General."Combining international expertise, experience in public policy and private sector and a strong track record in managing economic crises, David brings to the Fund's long experience in the design of policies and negotiating skills," said Christine Lagarde said.
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The CAC 40 is expected to resume on Friday after his heavy fall of more than 2% Thursday night. Markets should appreciate the calming of the Greek case. While Europe has promised a new plan Thursday to save Greece, while maintaining the pressure to Athens in exchange for adopting an unpopular austerity program, Greece, she has reached an agreement with international donors on the final details of a new austerity plan, whose adoption in parliament expected next week.
Moreover, the French Minister of Economy Christine Lagarde was released Thursday in Washington visibly relaxed in his great oral before the Board of the International Monetary Fund, which shall designate within a week its new CEO.She assured that she would not be lenient with European countries if it took the head of the institution.
In France, INSEE said that growth will wait for 2.1% in 2011. The first months left on the ground running, with a 1% growth in the first quarter but spring is marked by a strong downturn in part because of the end of the scrapping a car that plunged household consumption, in the face of any support in the international environment.
Oil has won
All eyes will also look to the monthly survey of French consumer confidence survey for June, to be published by INSEE 8:45.In Germany, the Ifo barometer (10 hours) followed, while the U.S. side, durable goods orders will be scrutinized closely.
Meanwhile, the euro stagnated this Friday morning (0.02% to 1.4268 dollar) while the side of commodity markets, the last few hours were hectic. Yesterday, the price dropped $ 5 in New York, at $ 90 and $ 7 in London. A decline caused by the International Energy Agency that surprised by deciding to draw on its stocks to supply the market.
EADS not "indifferent" to an approximation Thales / Safran
After a week early for professionals, the Paris Air Show opens Friday for three days the general public who can see the stars in flight aviation such as the A380 or the Rafale fighter absolutely free credit score.The 667 contracts announced four days propel the Airbus order book of European best-seller, the A320 Neo, over 1000 copies. In total, Airbus set a new record high with 72.2 billion dollars in contracts.
In addition, EADS can not remain "indifferent" to a rapprochement between Thales and Safran, two major suppliers, said Thursday on radio BFM Business Marwan Lahoud, Chief Strategy Officer of European aerospace group.
Bernard Charles, CEO of the world leader in 3D software, Dassault Systems, told the BBC that the aviation economy is on the verge of a revolution.
The Nuclear Safety Authority (ASN) denounced a "deliberate process" of non-reporting of accidents at the site of the Flamanville (Manche), particularly on the part of Bouygues, in a report revealed Friday by humanity.
Vinci has signed a new syndicated credit line of four billion euros in five years, two options to extend for one year to fund the general needs of the group. This new facility replaces several existing credit lines not drawn, maturing in 2012, a total of 3.685 million euros.
PSA declined to commit to a future timetable for its plant at Aulnay-sous-Bois (Seine-Saint-Denis), said the CGT.
Société Générale.Bank unions have denounced a draft direction to reduce the incentive and incentive to be paid to employees in 2012.
Areva has announced a new joint venture in nuclear power in China. The nuclear group has signed a contract for the supply of instrumentation systems from the heart of two reactors at the plant Ningde.
Sanofi has obtained the green light Thursday of the health authorities of Canada to put his cancer Jevtana on the market.
The World Health Organization has classified the mobile phones in the category of products whose use is "possibly carcinogenic". If their harmfulness is not formally demonstrated, scholars have already shown that heavy users appeared to have a greater risk of developing cancers in the head (brain, parotid gland, inner ear). It is therefore necessary to minimize, at least as a precaution, exposure. Lefigaro.fr present you some tracks.
Use the speakerphone or handsfree
The amount of air absorbed by the body decreases rapidly when leaving the phone (decrease proportional to the square of the distance separating the receiver from the transmitter). The use of loudspeaker used to limit its exposure. Similarly, hands free kits are very effective even if a very small waves propagate along the wire.
Bluetooth kits work them on the same frequency range as laptops (or Wi-Fi). But they emit more than 200 times less safe. From the moment the end user's team for that call, they are commendable. Otherwise, they can instead make things worse.
Limit conversations moving
The phones do not emit systematically with the same power. When you start a conversation when the phone connects with the relay antenna, it is more important example.
When you are moving (subway, car, train), your phone also emits more strongly to search for nearby antennas. And when you pick wrong, your phone tries to compensate by sending more powerful waves.In both cases, it is better to avoid spending long shots son.
Call from a fixed maximum
The best way to avoid exposure to wave the phone is still … not to use it. Behind this lies a profound truism commercial development: since December 2010, the major ISPs offer for very reasonable money, unlimited plans to laptops. We can call his friends without breaking the bank since its fixed.
Note that cordless phones and son (also known as DECT) operate on the same wavelength range but emit about ten times times less power.
Prioritize mails and SMS
Speak no more: write. In this way, you keep your laptop away from your ear and you limit the amount of waves it emits. The introduction of SMS packages and mails Unlimited makes this alternative economically viable.As for phones, they are more likely to have full keyboards that facilitate the writing of messages. Some users have already integrated this new way of communicating.
Do not keep your laptop close to you
Your phone emits at very short intervals to keep in touch with the network (or 3G telephony). Better to leave your laptop on your desktop in your pocket, in your living room on your bedside table. Most phones now have a function "airplane" that lets you disconnect your terminal from the network and benefit from other applications (alarm clock, games, etc.).
Buy a phone with a small SAR?
Cell phones all have a SAR (Specific Absorption Rate) which gives the amount of absorbed wave by human tissues for a maximum emission.Limited to 2 W / kg in Europe (1.6 W / kg in the U.S.), it is measured by the manufacturer itself has a legal obligation to mention it in the manual. Some websites will enumerate the values to allow comparisons. Critics point out that a DAS phone can be clamped to get a hint when he issues an average of more waves than cameras with a high SAR.
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GDF SUEZ announced Friday in a statement that "the general meeting of shareholders of Compagnie du Vent has decided to replace" its chairman and founder Jean-Michel Germa by Thierry Conil, "over 30 years experience in GDF Suez ". "A major strategic dispute," the statement continued, between GDF Suez, which owns 56.8% of Compagnie du Vent and its founder Jean-Michel Germa, which owns 43.2% is the origin of this separation.
Problem: Jean-Michel Germa judicially contest his dismissal, even though he knew his scheduled departure. First on the form. Feeling the dispute with its powerful shareholder grow for months, Jean-Michel Germa had sought this week the protection of the commercial court of Montpellier (seat LCV).He had requested the postponement of Thursday's meeting but GDF Suez has received the same day, the Tribunal de Commerce "authorization" to conduct this meeting. Jean-Michel Germa considers that the meeting "was not held." The founder of the company that employs 156 employees (sales: 27 million) is "very shocked" by the group methods.
On the merits, the proposed wind farm on both coasts, off Tréport is at the heart of the dispute between the two parties. "I wore this folder on the baptismal font for more than six years," says Jean-Michel Germa. Since 2005, he sought a major partner, not being able to invest only 2.5 billion euros of this pharaonic site of more than 100 offshore wind GDF Suez said this in 2007.Only offshore project in France to have passed the stage of public debate and to have obtained permission trunking park on both sides to eventually be included in the five zones affected by the imminent bidding of the government. Germa estimated that his company could legitimately respond to the bidding as prime contractor, with GDF Suez and all interested partners.
Regain control
The group Mestrallet which just announced an alliance with Areva and Vinci to participate in the tender intends to resume the hand and accuses Jean-Michel Germa its "independent development approach." "We do not aim to be your bank, it is argued in the entourage of the group.GDF Suez eyes, only the creation of a true industrial sector will invest successfully niche offshore wind: "Between the amounts required and the risks to assume the financial stakes are so huge it takes deploy a comprehensive strategy. "
Other disputes have marked the common path of CTA and its controlling shareholder. Today, Jean-Michel Germa figure at 490 million euros loss suffered by his company, counting the resumption of the park on both sides by GDF Suez.
Energia says victim of the same strategy
While the government prepares to launch the tender on offshore wind farms and to renew some concessions hydraulic group Mestrallet began to gather around "a great center" activities in the Renewable France previously dispersed in several subsidiaries.The group, which currently has a portfolio of 1000 megawatts (MW) wind farm, wants to double within five years. The multinational company has invested 135 million euros in CTA believes it was time to take complete control. Jean-Michel Germa denounces what he sees as a strategy of GDF Suez, which is "to transfer the assets of companies that the group claims to have bought too much, empty them of their substance out minority shareholders on the cheap."
Fabrice Crobbedu, former head of Energia, a small business specializing in heating, acquired by GDF Suez in 2008 to 54% consider themselves victims of this same strategy. Revoked in 2009, it remained a minority shareholder. At GDF Suez, the response by explaining that Fabrizio Crobbedu is suspected of abuse of corporate assets. The judicial successive episodes.Until this year, going back to Friday when Fabrice Crobbedu grabbed the Commercial Court to challenge Nevers, too, holding a general meeting.
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