The stock market turmoil of recent months are probably a part of the explanation. Indeed, in the previous survey in May, 55% of wealthy households thought that the decline in the stock market was behind them, and 44% felt that there was no risk of another financial crisis …

Since then, things have changed dramatically.

Near the branch, which includes regional trains and also houses Keolis, a subsidiary of public transport, has become the main contributor to the SNCF group with a turnover of over $ 9 billion over nine months, up 6.5% compared to last year. "Proximity" of benefits including state aid to bail out the trains balance of the territory (TET), these unprofitable lines that the state has agreed a year ago to subsidize.

"We are doing better in all branches thanks to the improvement of agreements signed with Réseau Ferré de France, for which the branch Infra work more profitable, but also with the state as part of the TET, said David Azema. Because trains balance of the territory we had last year a loss of 210 million euros.This year, we charge the revenues of the State by this convention. "

A flat on the side of freight transport

However, a shadow appears on the side of freight transport. If SNCF Geodis displays a nine-month increase of 3.8% of its turnover, the logistics sector was down 1.1% in the last quarter. "The activity of Transportation Commission, which worked very well, has declined by 8.7% during the last quarter which is a measure of slower traffic flows between Asia and Europe," says David Azema.

This performance should enable the group to achieve its margin, its leaders do not want to reveal.

ALSO READ:

"Thello, the first competitor of the station to Venice

Few newspapers have a history as brilliant and desperate that France-Soir. A heroic birth, with the brilliant Pierre Lazareff transforms, at the end of the war, a newspaper born in the underground resistance, Defence of France, in large tabloid. Shattering debut, with prints that quickly reach over a million copies. Illuminated by a succession of prestigious feathers. A slow but inexorable fall, punctuated by numerous changes in ownership.

France-Soir has become the first French daily Liberation from. Acquired by Hachette in 1949, the newspaper saw its heyday in the 1950s and 1960s. He crossed the bar of a million copies in 1953-1954, while France mired in the wars of decolonization in Indochina first, then to Algeria.The French go to the front and France-Soir draws more than 1.5 million copies. A banner on the front proclaims: "The only daily selling over a million copies."

By dint of scoops of hard-hitting headlines and large photographs, France-Soir is a reference. "Pick the world in a day and throw it to the men every morning," the newspaper endorsed this definition of journalism by Joseph Kessel, who covered the trial of Petain and Nuremberg. The anthology pieces by Lucien Bodard, Françoise Giroud, Jean Philippe Labro Ferniot or alongside the venomous "Gossip gossip of" Carmen Tessier, the soap with rose Angélique, marquise of angels and the "facts div" sordid as the Dominici affair. The cocktail is perfect.

At the height of his fame, France-Soir is working out up to 400 journalists and eight editions per day.Sales over two million copies in November 1963, after the death of John F faxless pay day loans. Kennedy and after the November 1970 General de Gaulle.

The tide is turning in the 1970s. When Lazareff died in 1972, the daily press is beginning to be shaken up by radio and television. The editorial line is less clear. Like its competitors, France-Soir tabloid balance between the Anglo-Saxon and the general log. Frequent changes of shareholders from that time do not help matters. The "avid reader" Robert Hersant, which then has to Le Figaro, took control of France-Soir in 1976. First bleed to the editor that loses 80 of 200 journalists … But in 1983, the distribution still falls to 400,000 copies.

Following is a series of stimulus packages and restructuring.Between 1982 and 2004, eleven editors will succeed at the bedside. In 1998, Yves de Chaisemartin, who told Robert Hersant the keys to Socpresse, the paper goes tabloid significantly lowering the selling price. But the title is seriously deficient. It changed hands in 1999, 2000 and 2002. Philippe Bouvard, who has officiated in the newspaper between 1973 and 1989, then back at the helm. France-Soir +, refocused on television and sport, does not return to its glorious past.

Bloodless, without cap, France-Soir is placed in receivership in late 2005. The following year, the newspaper was bought by the developer Jean-Pierre Brunois. Journalists on strike brandishing leaflets "Bal tragic in court: 80 dead." Inspiration always comes from English tabloids. But the newspaper has lost the recipe for success.The two stimulus packages Alexander Pugachev, who acquired the newspaper in 2009, failed to reverse the trend.

The Europeans hoped "a dialogue between friends," the Americans had "no arrogance." Las. With the destabilization of markets and growing concern on both sides of the Atlantic, the U.S. Treasury Secretary, Tim Geithner, could not resist lecturing his seventeen counterparts in the euro area gathered Friday to Wroclaw (Poland).

The relief provided by five central banks – including the U.S. Fed – banks in the euro area will not long concealed the absence of concerted policy response to the crisis. On behalf of the Europeans, the President of the Eurogroup Jean-Claude Juncker declined projects Tim Geithner, citing "differences in approach with our American colleagues."Treasury Secretary, he has put his finger where the euro hurts: he publicly expressed concern "of the conflict between governments and the European Central Bank," a week after the sensational resignation of the Chief Economist of the ECB .

Barack Obama's America, soon launched a presidential campaign, fearing a collapse of Greece, a contagion to European banks and a possible fracture of the euro area. If the crisis deepens, it is the U.S. economy would suffer the backlash, shock reverse of that which had hit Europe after the collapse of Lehman Brothers in 2008.

The first message in Washing-ton is to push the Europeans to speak with one voice and act decisively. "Governments and the Central Bank should work together (…) to avoid catastrophic risks for financial markets," said Treasury Secretary.And he insists, denouncing the cacophony that destabilizes the common currency: "Everyone should also abstain from loose talk about the end of the euro area." Targeted: the proponents of expulsion from Greece …

Denial of a tax on financial transactions

The unprecedented invitation launched by Poland – host country because currently presiding the EU – Timothy Geithner had anything to embarrass, in turmoil, the finance ministers of the euro. We saw Baroin host the head of U.S. Treasury of a strong handshake in Wroclaw. But the Euro has carefully kept at a distance. He has not formally participated in the circle, but a "preliminary conversation" about an hour. Contrary to custom, he did not sent to journalists.To tell his truths to Europe, he preferred an audience of bankers in another part of town.

Some did not take gloves to say that Europe has no lessons to learn. The United States, collapsing under the deficits should put their own house, says the Belgian Didier Reynders. "America has nothing to dictate when the person refuses flatly our suggestions," added the Austrian Maria Fekter. It is true that Tim Geithner repeated Friday his opposition front to the tax on financial transactions carried to Paris, Berlin and Brussels.

Decisions deferred

For the second time in eight days, Treasury Secretary left Europe empty-handed. Friday, the Europeans have made a face at her suggestion to "leverage" means the EFSF, the bailout fund for countries of the euro in difficulty."This is not a subject that is discussed with a country outside the EU," Jean-Claude Juncker meant. Same end of inadmissibility of the American idea of ​​supporting the growth of public funds "even a donkey does not stumble twice on the same stone, 'says Didier Reynders, convinced of the urgency to fight first against the deficits.

For the Americans as to Europeans, the European event in Wroclaw ends with a disturbing sense of incompleteness, even for emergencies. The Eurogroup has pushed to mid-October a decision on payment of 8 billion euros to Greece. He did not reach an agreement on guarantees that Finland requires Greece.

Between April and June, exports fell sharply by 4.9% and is the main factor in the decline. During this period, deliveries of goods have been hampered by the destruction of factories and infrastructure in the devastated areas of north-east of the archipelago. Breaks in the supply chain were found in the key sectors of the automobile and electronics exports pillars.Industrial activity has also been slowed by the nuclear accident in Fukushima that led to the arrest of a significant portion of the reactor pool and therefore a fall in electricity production.

The downward trend was further accentuated by a decline of 1.9% of private real estate investment and a 0.1% decline in consumption. The trauma of the disaster, which killed more than 20,000 dead or missing, has indeed led the Japanese citizens to exercise restraint for several weeks, slowing private consumption, which is usually an engine of growth. This slowdown was partly offset by the increase of 3% of public investment.

"We will rebuild Japan"

To observers, this leaves the second quarter, however, consider a rapid improvement in the Japanese economy."If the economy is improving as it takes shape in some respects, it is possible that growth back at the period from July to September", commented Takeshi Minami, an economist at the Institute Norinchukin whose opinion joined the Minister of Finance, Yoshihiko Noda.

For his part, Prime Minister Naoto Kan, who survived in June in a vote of no confidence by promising to resign by the end of August, took advantage of the sixty-sixth anniversary of the surrender of Japan to discuss improved conditions. "Our country has emerged from the ruins of war through the efforts of every citizen and overcame many difficulties to date. With these experiences, we will rebuild with determination and force the devastated areas and Japan. "

These remarks have convinced the Asian markets on Monday morning.At the Tokyo Stock Exchange, the Nikkei has closed the day on a sharp increase from 1.37% to 9086.41 points.

ALSO READ:

"Japan is rebuilt despite the political doldrums

"SPECIAL: Japan devastated

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!

"The Commission informed the parties concerned and the competition authorities of the Member States of the opening of the proceedings in this case," said the European Commission in a statement.

The investigation follows a complaint filed in 2004 by the European Confederation of Associations of watch repairers (CEAHR) for alleged violation of competition rules of the European Union.Multi-brand repairers had indeed used to make many of the repairs of luxury watches payday loan online. But from 2002, according to CEAHR, manufacturers of luxury watches began to refuse to supply spare parts to multi-brand repairers who were not part of their repair networks. The CEAHR therefore seeks the condemnation of the practice, saying it could force independent repairers to put the key under the door.

The European competition regulator rejected its complaint in 2008 for lack of Community interest. Then the decision was overturned by the European Court of Justice (ECJ) in December 2010. This does not prevent the European Commission to be cautious about this.She stresses that the opening of an investigation does not mean it already has evidence about the existence of an offense. And yet, no manufacturer of luxury watches is specifically under investigation.

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.

ALSO READ:

"A default formally excluded

"U.S. Debt: Obama an ultimatum

"Debt: Barack Obama fails to restore calm

Contribution of 9 billion

However, Europe has announced that it could contribute up to 9 billion euros for investment in telecom infrastructure. The total was estimated between 200 and 300 billion euros over the period 2010-2020 for the operators. The President of the European Commission, "Jose Manuel Barroso has made the announcement Tuesday night at a dinner.Wednesday, Neelie Kroes reiterated the proposed contributions to investment of 9 billion euros in European funds, "says Jean-Bernard Lévy, CEO of Vivendi.

In order to reduce investment, European players have suggested that the frequencies are shared for future mobile networks and that "investments are pooled, especially for civil works and the optical fiber," says Gabrielle Gauthey, Director of Public Affairs Alcatel-Lucent. For his part, Rene Obermann, head of Deutsche Telekom, has urged all sectors to agree on the creation of standards for interconnecting the next generation network.

But among all the proposals, which calls on Europe a "differentiation in terms of traffic management to promote innovation and new services and meet the demand for different quality levels" is to be the most difficult to be accepted by the giants of the Web. They should negotiate in secret affairs, with operators to deliver services to high-speed Internet users. Supporters of this proposal, it would not be called into question the "neutrality" of the Internet. Because Google and other Facebook would not have to sign these contracts.

Hiring remained stalled for the second straight month the U.S. in June, with only 18,000 net new jobs and the unemployment rate rose to 9.2% of the workforce.

Alcoa opens the ball in quarterly results

The trend, however, should be fragile before the beginning of the season half-year results. As usual it is Alcoa (-2.32% to $ 16) which will open the show of quarterly, as soon after the close of Wall Street Monday.JPMorgan Chase will be the first major U.S. banks to issue, with results expected Thursday, the same day as Google, which will set the tone for the technology. Investors will know very quickly if the U.S. financial sector has suffered from the decline in trading activities. These results also give a taste of the figures will be announced later by European banks.

According to Thomson Reuters data, the results of listed companies on the S & P 500 should show an average increase of 7.3% compared to second quarter 2010. But this increase could be higher if a majority of companies beat the consensus.

The euro dropped to $ 1.40

On the foreign exchange market, the euro was digging its losses against the greenback on Monday.Mid-afternoon in Paris, the single European currency was worth 1.4050 dollars against 1.4258 dollars on Friday night, falling to levels seen for two weeks.

On the macroeconomic front, the United States, negotiations between Democrats and Republicans over raising the debt ceiling is again blocked, the Speaker of the House of Representatives, Republican John Boehner, who announced that he would not find a comprehensive agreement with the White House.

In the process, the U.S. Treasury Secretary Timothy Geithner gave assurances that the U.S. would not default on their financial commitments, while Barack Obama announced he would hold a press conference Monday at the White House.

Always on the side of values, Sanofi (2.49% to 80.35 dollars) today announced positive results in a phase III study for Lemtrada, a drug for the treatment of multiple sclerosis developed by Genzyme's new subsidiary. Sanofi put his hand in April on U.S. biotech Genzyme for more than 20 billion. In addition, Sanofi said on Monday the sale of its Canadian dermatology Dermik to Valeant for $ 425 million (300 million) in cash, in order to focus on priority activities in the United States and Canada.

In the same area, the Swiss company Lonza, specializing in life sciences, announced Monday the acquisition of the U.S. Arch Chemicals (11.24% to 46.91 dollars), a company active in biocides.The cash offer to 47.20 dollars per share values ​​the company at $ 1.4 billion, which represents a premium of 36.7% over the share price on the last thirty days.

In addition, the U.S. aerospace equipment Precision Castparts Corporation (0.79% to 164.07 dollars) will strengthen the sector by buying aero Primus International Society for $ 900 million in cash.

Also note, the Financial Times, the fund Blackstone (-3.12% to 16.48 dollars) sold its shares in the Chinese Dili Group, while the group would not be able to freely adjust its prices .