Monday, a subsidiary of GDF was again surprised by a decision which comes just two years after the government's decision to extend by ten years the three reactors mentioned above. Extension in exchange for which GDF Suez has to pay 245 million euros a year, a tax that Brussels wants to climb to one billion euros. Ironically, ten days ago, GDF Suez had threatened to shut down in advance the three reactors in protest against the increase No teletrak payday loan.
Facing the new situation, Electranel also said it will consider "the possibility of redirecting investments it plans to extend to these plants, or nearly one billion euros to guarantee the future security supply its customers. ".
International ambitions
The quality of its nuclear tool in Belgium allowed GDF Suez to establish its claims internationally.
Euro countries, including France and Germany plan to push a few days at least the Euro Summit in Brussels originally scheduled for Oct. 18, according to European sources consistent.
This is to give a little more time to the development of the answer "global" announced this weekend in Berlin by Nicolas Sarkozy and Angela Merkel. The European Council President Van Rompuy must specify the new calendar in the day, according to his entourage.
'Global response'
In Berlin, the President and the Chancellor had foreshadowed the shift by promising "sustainable solutions, comprehensive and fast before the end of the month."They also kept to define the contours, which allows to believe that the agreement is to be locked at seventeen if not two, on the key points: the recapitalization of banks and the role of the European stabilization financial, finding economically viable treatment for Greece and modification of European treaties in order to strengthen collective discipline.
Europeans to revise their copy, just three months after concocted, July 21, a plan intended to resolve the crisis in Greece and curb its spread to Italy or Spain. It has not yet been adopted by all Seventeen. The vote of Slovakia, with a coalition divided on the subject may become paralyzing veto and the euro area.
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TF1 and Canal + are about to conclude their negotiations for the recovery of the non-exclusive news channel LCI. The parties are agreed on a price higher than the 5 million euros per year initially proposed by Canal +.
After months of standoff, the two operators have approached. Already on Friday, Frédéric Mitterrand, the Minister of Culture and Communication, has publicly that the government did not favor the passage of the LCI DTT to DTT. A position at which the staff of TF1 was more sensitive than the Higher Audiovisual Council has continued to increase, too, signs of reluctance.
Indeed, it is the regulatory body that should have given its approval to such an operation.The CSA has raised the legal difficulties of such an operation and would not have appreciated the statements of Catherine Nayl, director of information at TF1, the possible disappearance of LCI. Today, Canal + and TF1 prefer calm the game's announcement of the acquisition channels Direct 8 Direct and Star by Canal + and that the record fine imposed by the Competition Authority as part of merger with Canal + GST urged to be more generous towards ICL. It would not be good for the group to be, in addition, responsible for the eventual death of the continuous news channel.
For its part, TF1 has weighed the pros and cons of an economic transition to free when the system always loses 5 million for a budget of 43 million euros. The move to free distribution would have widened the gap in the chain up to fifteen million.Difficult to take a risk in times of crisis.
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After Societe Generale and BNP Paribas, is the turn of Credit Agricole announced asset sales. The bank is expected to formalize the announcement today confirming the information in the Financial Times published on Wednesday that does not specify the amount that could take these asset sales.
Particularly exposed to the crisis in Greece with its local subsidiary Emporiki, Credit Agricole, was downgraded by one notch Mood'ys ten days ago, as its rival Societe Generale. By reducing the size of its balance sheet, the bank may, mechanically strengthen its financial soundness. BNP has already announced plans to reduce by 10% the size of its balance sheet by the end of 2012, while Societe Generale provides 4 billion of asset disposals.
This is also seeking to sell its stake in Newedge, the joint venture of Societe Generale and Credit Agricole specializing in derivatives low fee payday loans.According to a source quoted by Reuters, the bank will also consider transfer SGSS, its management subsidiary titles, but no decision had yet been taken.
Reorganization in North Africa and the Middle East
Tuesday, the head of Crédit Agricole in the UAE had told Reuters that the bank had closed its merger and acquisition in North Africa and the Middle East. "We want to focus on areas where we can create value for our customers," he said.
At the Paris Bourse, the Crédit Agricole yield 1.04% to 5.134 euros after climbing 13.10% yesterday, amid rumors of measures to support the banking sector in the euro area.
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Shortly before the opening on Tuesday on Wall Street index futures Standard & Poor's 500 and Nasdaq 100, respectively, yielded 0.74% to 1199.20 points and 2207.50 points to 0.56%. The Dow Jones was waiting for his part, down 0.59% at 11,449 points.
After the flight of the day, the New York Stock Exchange and could catch his breath at the opening on Tuesday. Profit taking, mixed with caution always appreciated by investors, seem to encourage U.S. stock markets to begin the session backwards. Even if the words, held last Friday by the Federal Reserve Chairman Ben Bernanke reassured, prompting indexes rebounded strongly yesterday, investors remain worried.As recalled in a note Tuesday that Jean-Michel Six, chief Europe economist for Standard & Poor's, a "recession" double-dip "is preventable, but the risk increases."
Real Estate and Consumer Menu
Investors monitor more than ever the various macroeconomic indicators of the week free credit report and score. Both are on the agenda for this Tuesday: the Case-Shiller real estate index of house prices for June, from 15.00. Then will come at 16:00, the numbers of consumer confidence for August.
The minutes of the Federal Reserve (Fed) minutes of the last meeting of 9 August, the Monetary Policy Committee (FOMC) of the U.S. central bank will also be observed under the microscope, after market close, at 20:00 Paris time .
On the corporate side, no major publication on Tuesday.Bank of America on Monday launched a new large-scale operation to strengthen its capital by selling about half its stake in China Construction Bank, which allows him to approach the future requirements of rules known as "Basel III". The bank will retain 5% stake in the establishment of China (BCC) after this transaction, which must be completed by the end of September. The sale includes 13.1 million shares of the CCB to a group of investors.
New black day on Wall Street. After opening in the dark red (-2.19% for the Dow and -3% for the Nasdaq), the New York Stock Exchange closed down a massive. The Dow Jones lost 3.68% to 10,990.58 points and the Nasdaq was unscrewed from 5.22% to 2380.43 points.
The New York Stock Exchange, which has already ended the session on Wednesday on a very hesitant, was weighed down by fears of contagion from the crisis of European debt to U.S. banks and the threat of a relapse of economy after disappointing figures on the employment front in the United States. Symbol of this fear on the recovery, oil finished down 6% in New York, a barrel of "light sweet crude" for September delivery ended at 82.38 dollars.
In Europe, stock markets have been driven into the red, pulled down by banking shares.The markets are worried about the global economic downturn, following the release of retail sales increased very slightly in Britain.
Morgan Stanley is concerned about global growth
Morgan Stanley also lowered its growth forecast of the global economy for the years 2011 and 2012, the revision is stronger for developed countries. In a note published Thursday, the U.S. investment bank now expects growth in global gross domestic product (GDP) of 3.9% in 2011, against 4.2% previously and 3.8% in 2012, instead 4.5%.
The bad mood is compounded by a series of important indicators in the U.S. on Thursday and go in the direction of a faltering economic recovery.
First bad news earlier this afternoon with the weekly jobless claims: The Labor Department reported a larger increase than expected last week. They reach 408,000 registrations, against 399,000 the previous week. Economists on average had expected 400,000. The consumer prices have in turn increased more than expected in July (0.5%), driven by the rebound in gasoline prices.
The index of the Philadelphia Fed, the "Philly Fed" came out in very sharp decline in August, well below expectations. It plunged to -30.7 in August from 3.2 in July, while the consensus of analysts expected a slight rebound to 3.7.He thus reached its lowest level since March 2009.
The U.S. index of leading indicators, however, increased more than expected in July to a record high, due to growth in money supply and a decline in jobless claims, the Conference Board said Thursday.
Finally, existing home resales fell contrary to expectations: they were down 3.5% in July, while analysts expected a 3.8% increase, according to figures from the NAR.
New record for gold
In terms of raw materials, while the stock markets fall, gold has reached a new record on Thursday: an ounce of the precious metal rose to 1816.25 dollars on the spot market. Oil markets, prices opened down sharply in New York, the new access affected in a bad mood.To 15 hours (French time), a barrel of "light sweet crude" for September delivery was trading at 85.02 dollars, down 2.56 dollars compared to the previous day.
On the currency markets, the euro lost some ground against the dollar, struggling to find direction in a sluggish market and cautious with the release of U.S. indicators and always weighed down by the debt crisis in the eurozone. At the close of Wall Street, the euro bought 1.4345 dollars against 1.4428 dollars late Wednesday.
Values of the day
Hewlett-Packard, which published its results before the scheduled time (turnover of 31.2 billion, in line with expectations) and resulted in a trading halt, announced it was negotiating the purchase of Autonomy Corp., a transaction by Bloomberg estimated 10 billion dollars. It envisages the other to separate its computer division, its largest business, but less profitable.It also abandons the tablet touchpad.
NetApp declined by 14.04% in early trade to 35.81 dollars. The group missed the consensus for its first quarter of fiscal 2012, with a turnover of 1.46 billion, against $ 1.51 billion expected by analysts. The net decrease of $ 150.7 million to $ 139.5 million
The communications systems equipment supplier JDS Uniphase (-12.81% to 10.20 dollars) has reported a net quarterly profit of $ 9.3 million, or 4 cents per share against 1.5 million the last year. It provides a low turnover in respect of its first quarter due to adverse economic conditions, but is optimistic in view of its order book.
Coca-Cola (-2.14% to 67.80 dollars) will invest four billion dollars more in China between 2012 and 2014, reported Thursday the New China News Agency, quoting the CEO of the world's leading soft drinks.
Sears Holdings (-8.16% to 55.23 dollars) reported a higher loss than expected in the second quarter, sales were weak and the promotions have started margins.
Ross Stores (-4.86% to 68.31 dollars) has reported a better than expected pofitive the second quarter but is cautious about these results for the rest of the year in a difficult environment.
Dollar Tree (-1.34% to 70.84 dollars) has reported an increase of 22% of its profit in the second quarter.The distributor has revised upwards its forecast for earnings per share (between 3.82 and 3.95 against 3.69 dollars and 3.85 dollars expected in May).
IBM (-4.46% to 163.83 dollars) is one of two candidates vying to buy at Lufthansa subsidiary Lufthansa Systems, the German press reported Thursday. Another potential buyer is the conglomerate Tata Group.
Gap (-5.48% to 15.52 dollars) and Foot Locker (-6% to 17.56 dollars) must publish their results after the close.
"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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Atos continued to bounce back despite the difficulties of the IT sector in developed countries. Despite a slight drop in sales (-0.7% to 2.47 billion euros on a comparable basis) in the first half, the services company in computer engineering said Wednesday in a statement net income group share of 100 million euros in the first half, up 66% year on year. Atos has indeed improved its operating margin. A 166 million, represents 6.7% of revenues, compared to 6% for the same period last year. "In the first half of 2011, as planned, we managed to increase the operating margin for the fifth consecutive quarter," welcomes these results Thierry Breton, CEO of Atos.
The first group activity is outsourcing, which shows an increase in its turnover by 0.6% to 906 million euros.The operating margin turned positive in all service lines of the group, except for high-tech transactional services (HTTS), where it fell slightly by 0.5% over the first half of 2010. This decrease is attributable to significant investment group in the countries of Asia and Europe, including the Netherlands, the United Kingdom and Spain.
An advance on the schedule for the integration of SIS
Former Atos Origin has officially completed in early July the acquisition of the holding company consolidating all IT activities of Siemens, Siemens IT Solutions and Services (SIS), which gave birth to a new entity, now called Atos. In exchange, the German group was to take up to 15% in the new entity. The merger helped to improve the financial position of the group."The growth in operating margin was performed in the context of preparations for the integration of SIS," said Thierry Breton, adding that the group is now well positioned to increase its competitiveness, and is ahead of schedule to deploy program realization of merger synergies cashadvance.
Growth in the UK due to public commissions
In terms of performance by geographical area, the UK market of the company that turns out to be the most dynamic yet. Group revenue increased by 3% in the United Kingdom, supported in particular by the return of public commissions that have operated in the area of facilities management (6.6%) and HTTS (+7%) after a freeze period of new contracts during the economic crisis, said Michel Alain Proch, chief financial officer of Atos.
Moreover, in Europe, the activity of the company specialized in IT services has suffered persistent problems in the markets, which led to a very high selectivity of the contracts. This is the case of Benelux, where the turnover of Atos was down 4.1% and France, where the decline in the activity of specialist services is 2.9% in the first six months of the year. These are two historic regions for the group, accounting for one third of its business. As for the new entities Chinese, Turkish and Russian, the results should impact the sales of Atos about 50 million, they will be integrated with results from the fourth quarter, it said. The transfer of these entities occurred on July 1, when the acquisition of SIS by Atos.
The group now expects an operating margin of 6.2% for all of 2011, for an annual turnover of around 6.8 billion euros. Atos also confirmed a target cash flow up 20% to 170 million euros.
These encouraging results have been applauded by the Paris Stock Exchange on Wednesday. The title of the SSII took 5.01% to 39.16 euros to 10 hours.
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Competition without doping and full of uncertainty is the best guarantee of a successful Tour. In France Televisions, one welcomes the improvement of the hearings provided by the Tour de France 2011. The latter was successful, according to Médiamétrie, peaking at 8.5 million viewers and posted an average over the entire round of 5.2 million daily viewers. The mountain stages as Pinerolo-Serre Chevalier even totaled an audience share of 55.4%.
Daniel Bilalian, head of France Televisions sports, these good results are due primarily to the fact that "the Tour was a real race with many uncertainties, suspense and surprises.As in previous years, the doping scandals have caused the alienation of the event, the 2011 has shown, not supermen, but real riders in the choice of strategies winners or losers, often arriving exhausted. "D ' Moreover, as noted in the athletic director of France Televisions, "sporting events that are stable or growing in audience are characterized by their rarity, such as Six Nations, the Olympics or the Tour de France. It is not just a sporting event but a historical monument as well as July 14. "
"The arrival of new international actors"
This would explain que15 including 20% of viewers of the Tour are not fans of "Little Queen." To hang, France Televisions has also developed programs around the retransmission of the competition."The austere retransmissions within the meaning of the word belong to channels. In France Televisions, we focus instead on the sporting spectacle, "insists Daniel Bilalian. And it noted that "if no channel can claim an immediate return to a sports broadcast, however, its market share in a day later, a commercial value that advertising can be negotiated. The sport has allowed France to claim 2 throughout the year an audience share of 16% and not 15%. "For this reason in particular that France Television has extended by two years until 2015 included a distribution contract with Amaury Sport Organisation (ASO), the copyright holder of the Tour de France, but the Paris-Roubaix, the Paris Marathon, or the Dakar.If no amount has been disclosed, market experts say that "France Televisions, which remained faithful to the Tour in the worst moments of its history and has guaranteed its sponsors visibility of its branches, would have known that a reasonable increase of prices of the competition. "
In 2015, all contracts of the Tour de France, however, must be renegotiated. Daniel Bilalian cause for concern that fears "the arrival of new international actors such as al-Jazeera, which invests to meet all requirements and policies that have no marketing budget limit."
The reputation of Europcar in the wake of Voeckler
Ten days in yellow by Thomas Voeckler, Europcar team leader, allowed the car rental company to significantly improve its reputation.The group chose this sport for its popularity intact despite the image linked to doping.
Number one European location, the group has engaged in cycling in 2010 to try to improve its reputation with its competitors (Avis, Hertz, Sixt) most frequently cited in surveys of customers. Building 15 million for three years in cycling, the group has apparently achieved its objectives through thousands of citations during the Tour de France.
This bet – won – was nevertheless very bold: Europcar had bet 75% of its budget and marketing communication, 2011.
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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