European markets opened down on Friday. The CAC 40 lost 0.83% to 2985.19 and points in early trade. London also yield 0.81% to 5,379.08 points and Frankfurt 0.84% to 5800.79 points. Despite a week marked by political developments in Italy and Greece, the risk of contagion from the debt crisis strongly disturb the markets. Yesterday, France and Spain have made bond in high yields. Rates in Spain reached 6.975% of never-seen since the creation of the euro and a further step towards the 7% threshold considered dangerous. In the process, Wall Street closed lower and Asia was plunged into the red today.
In Italy, the new Chairman Mario Monti has presented its program focused on "fiscal discipline", "growth" and "equity.""The future of the euro will also depend on what will Italy in the coming weeks," he said. "Europe is experiencing its most difficult years of the postwar period. (…) The European project could not survive a possible collapse of the monetary union. "
The euro rose slightly against the dollar
On the foreign exchange market, the euro rose slightly against the dollar the slope after reaching a low of five months yesterday at 1.3421 dollar. It evolves around 1.3479 this morning but the dollar traders believe that the downtrend remains intact.
On the macroeconomic front, investors will be watching today the publication of the indices of orders received value in the industry for the month of September, published by INSEE at noon.
Payday loan online has been a sort of sanctuary for millions who have discovered that by merely leveraging your income after lender verification, you can receive short term relief financially, and from actual related stresses.
While the member Franck Riester delivered Monday Valérie Pécresse its second report on "improving the numerical relation to the user," the budget minister is determined to increasingly facilitate the administrative users. It offers users to respond to 15 new proposals to improve e-government. Users can provide feedback, respond and comment on the website set-simplifions.fr
Already, Valérie Pécresse asked the Directorate General for Modernization of the State to work on five priorities:
1 – Developing for priority services, personalized assistance to users during the process online (telephone, email, chat).
2 – Offer the user evaluation surveys on the Internet or mobile at the end of any administrative process.One way to take into account the voice of users and improve services according to their reactions.
3 – 5 Launch pilot projects on social media in the areas most relevant to the user: health, human services, education, employment and culture.
4 – Offer a mobile application offering users a personalized list of deadlines and the status of its efforts.
5 – Allow the user to present to the administration's vouchers via their mobile phone with a flash code (income tax, electricity bill and telecom).
While this report confirms the strategy implemented by the government in 2010, Valerie Pécresse welcomed the tangible results already achieved.
* 160 public websites have been consolidated or eliminated to improve the readability of the presence of the state line.End of 2011, the volume of websites of the state has been reduced by 50%. For greater efficiency.
* 2.5 million users have opened an account on the site mon.service-public.fr steps online.
* 76% of administrative procedures expected by most users have been dematerialized.
* The mobile phone version of the portal administration is now available (m.servicepublic.fr).
Societe Generale against attack. According to information from Figaro, the bank has launched a summons for defamation against the British tabloid Mail on Sunday. The Sunday newspaper had published an article on August 7 with Societe Generale "at the brink of bankruptcy after terrible losses from its exposure to the Greek debt." This article was the catalyst for the spread of rumors and scare many of the French bank, throughout the months of August and since the beginning. With the key, a downward spiral of its share price.
After obtaining an immediate apology from the British publication, the Company generally does it not stop there. She wrote, according to our sources, from August 18, by law, a letter of assignment to the Mail on Sunday, saying she has suffered damages and seeking compensation instant payday loan lenders.The next day, the newspaper responded by acknowledging his mistakes and offered to pay 1000 pounds to a charity. On 1 September, the French bank has sent a second letter, noting that the magazine acknowledged its mistakes and requesting payment, this time a million pounds to the "charity" of choice. Last week, the tabloid merely replicate that he would study the issue.
Both parties are there. If the Mail on Sunday does not comply, according to our sources, the Company generally will rise to the second phase of its assignment by entering a London court.
Pens, binders and notebooks just sold, the aisles are already crowded with bottles of wine. Casino at the wine fair began yesterday, Carrefour, Monoprix and Leaderprice follow today. The stakes are high for retailers: the event is about 10% of their annual sales within that radius.
While retailers feared a drop in consumption, the 2011 is again under the sign of exclusive regional, but especially low price. "More than six out of ten bottles will be offered to less than 6 euros," explains Stéphane Cathelain, head of wine fairs in the Casino Group stores (excluding Leaderprice, Franprix and Monoprix). The distributor, which doubles the operation of a fair whiskey, playing more than any other card of its private label wines with a score of "Club des Sommeliers Grand Reserve" a total of 450 brands, from 2 euros.
At Carrefour, the entry level is the same at 1.25 euros as the company has chosen to focus on the prize "this year". In hypermarkets, where 680 wines will be offered, "30% of the selection is less than 5 euros and 45% to less than 7 euros," explains the group. In supermarkets Carrefour Market, "the average bottle price is 6 euros." This argument should convince men-client type of the Wine Fair, to fill their baskets for 55 euros on average, at Carrefour.
"Two bottles purchased, offered a"
Leclerc also offers many affordable bottles from its 3000 references. The company, which invented the event in 1973, has seen its turnover grow Wine Fair from 8% last year to 80 million euros (12% of sales over the year).
Auchan, there are many "quality of the vintage 2009 to incite customers to buy," anticipates Olivier Mouchet, Group Head wines. Two-thirds of the offer (1200 references, up to 800 per store) will consist of wine this year. "For three years we have strengthened the promotions of the type bought two bottles, one offered. This offer is valid this year about a bottle of five, "said the official, adding that" the choice is our main argument. "
Last year, Auchan has achieved a turnover of 54 million euros, up 7%, representing 15% of sales over the year. This is double the grouping of the Musketeers, for which the event (45 million in sales) accounted for 8% of annual sales in 2010.
"Systeme U is" over-seller "of wine during the fairs, more than its share of food market over the period," said Emmanuel Podevin, the head of the national product of the wine brand. Rather than the lowest price, Système U emphasis this year on the value. The bottle sold in U at the Wine Fair is about twice as that sold during the year: 7 euros for the first, against about 3 euros for the second. The strategy has proven itself in 5 years, the turnover of the event has doubled in U system, reaching 36 million euros last year.
French clubs have bought more than they have spent. While the transfer market closed Wednesday, the financial statement of the summer transfer window is negative. This is not necessarily good news as the financial fair play (as imposed by UEFA to force European football clubs not to spend money they do not have) is on the horizon . According to the website TransferMarkt, French clubs in Ligue 1 has purchased more than 151 million euros during the transfer window and spent 191 million. A shortfall of 40 million. Last year at this time, the elite of French football had posted a profit of 57.67 million euros.
This difference of 97 million euros or less corresponds to that between purchases and sales made this summer by the PSG.Great animator of the transfer window was the Parisian club, now under Qatari clubhouse, has in fact spent more than $ 86 million to acquire new recruits, and he sold joureurs for 2.8 million euros. The Parisian club comes in second place teams with the most purchased during this transfer window behind Manchester City (92.25 million euros), owned by Sheikh Mansour, and ahead of Juventus Turin (85,750,000). By comparison, Lille, Marseille and Lyon, all three involved in the Champions League this season, spent 15 million respectively, 11 million and 5 million this summer.
For the record, the Argentine midfielder Javier Pastore, who came to PSG for 42 million euros, is single-handedly double the total of the purchases by clubs in Ligue 1 last year (21.7 million).The capital club up five players in the top "ten" of the biggest transfers of the summer transfer window.
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Further escalation, that night, in the war between the elected officials for several months Republicans and Democrats in the U.S. to find a solution to the need to reduce the U.S. budget deficit. Having failed to reach an agreement with Barack Obama, the chairman of the House of Representatives, Republican John Boehner, Friday slammed the door to negotiations with the president.
At issue this time, as the Republican's will vote Democratic president to make an additional $ 400 billion of tax increases. A demand unacceptable, according to Boehner, while the two sides had previously agreed to a ceiling of one trillion dollars in additional tax revenue.This Saturday, the threat of a default by August 2 of the world's largest economy has thus further increased.
Of default formally excluded
The President has convened several political leaders to an emergency meeting Saturday afternoon at the White House to try yet again to reach compromise. Both sides say they are confident of raising the debt ceiling (14.294 billion U.S. dollars), reached on May 16, but whether common ground had been reached on the amount of the uncapping. Barack Obama and John Boehner have ruled out a formal non-payment within 10 days.
But the talks still face the question of the amount of budget cuts and debt reduction.Republican side, John Boehner said that after the new clash, he preferred to look to the leaders of the Senate to find a "reasonable" on these issues. Which casts a big doubt about the outcome of negotiations Saturday with the president, which is called Boehner. Democratic side, Barack Obama is prepared to assume full political responsibility to raise the debt ceiling in order to unlock at least for a time, the status quo. "If that's all Congress can do, I will sign an increase in the ceiling to take us to 2013," the president said.
Obama recalled that he had proposed to the Republican's $ 1.65 trillion spending cuts various offers an "extraordinarily fair" said the president.But still not enough for John Boehner, who accuses the president's inability to take "tough decisions" on reducing public spending. Boehmer wishes to bring to the 3 trillion budget savings over 10 years.
Time-critical
The time to find common ground is critical. The readiness of Barack Obama to convene a further meeting this Saturday is a sign that the U.S. president does not want to wait until the deadline of August 2 to reach an agreement. "We have more time in front of us," he said.
Recalling that Wall Street opened Monday, the president pointed to the impact on financial markets of such uncertainty. "Americans are outraged" by the inability of Congress to act, he said.This willingness to find a solution is also shared by the Republican camp, in which counsel highlighted the urgency of an agreement by Monday. What then leave both parties ten days to write a non-redundant legislation and get it validated by Congress.
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The High Council of Audiovisual (CSA) has been patient, but he ended up pinning Direct Star, the chain of TNT acquired by Bolloré Media group Lagardere there just one year. The regulator has just sent a warning to the chain of free DTT Bolloré group has not met its obligations for the dissemination of European audiovisual and cinematographic works. The CSA, which has authorized the repurchase of the chain, was particularly careful to respect the commitments taken by the Bolloré Group.
Partner of major concerts
Christophe Sabot, the general manager of Star Direct chain, far from denying the allegations, said to "understand the position of the CSA." He explained that "since the purchase of the chain group Lagardere, a year ago, we intended to focus the antenna on the music and entertainment.The first step was to lock stocks Lagardère programs which were those of a minigénéraliste. Then, we needed time to find a new model and ask Direct Star on course. " A year ago, the chain then called Virgin 17 gathered 0.8% of the national audience. Today, its audience share increased to 1.2% in May, according to Médiamétrie.
Christophe Sabot today promised an overhaul of the grid to clarify the editorial. Direct Star is definitely a music channel, leaving a great place to live."We launched a tender to award six times for 90 minutes of music in 2012 and we have just signed with the four largest summer festivals – MainSquare the Eurockéennes the Old Ploughs and Musilac – for broadcasts direct. "
Direct Star, with a budget of fifteen million euros and should, as from September, increasing its funding, also will broadcast the upcoming July 14 concert giant SOS Racisme. "We will be under the Eiffel Tower to co-produce and broadcast the concert," says Christophe Sabot. For him, "no really direct competitor in this market music channels opens up new possibilities especially in the digital age since the chain is also present on digital since its inception as through its website as shelves, iPhone and social networks, "he says.
The U.S. equity markets remain in negative territory at the beginning of the week. On Monday, the Dow Jones lost 0.23% to 11.977 points in early trade. The Nasdaq was down 0.21% to 2611 points and the S & P loose 0.23% to 1269 points. Wall Street had already finished the session on a mixed note Friday.
Despite a new rescue plan for Greece launched last night by finance ministers in Europe, U.S. markets are still worried, as their counterparts in Europe and especially Paris.
After the reassuring words of Heads of State French and German unit, which posted a welcome Friday, the firm tone adopted by the ministers at the weekend said that the issue will be very long to resolve.The central bankers in the eurozone have defined the conditions of payment of a further tranche of loans in July, but the finance ministers of the euro area indicate that the release of the loan must be accompanied by the vote of a new plan of austerity and privatization by the Greek Parliament. Banks and other private creditors and participate in this new plan. However the contours of the latter remain to be defined.
In the wake of renewed tensions, the euro falls against the dollar. To 11 hours in Paris, the single European currency was worth 1.4232 dollars against 1.4301 dollars on Friday night. In addition, oil continues to fall sharply, quoting under $ 92 in New York.
On the macroeconomic front, the week promises to be charged. Members of the Monetary Policy Committee of the Fed will meet this week.The release will be issued Wednesday evening and Fed Chairman Ben Bernanke will give a press conference after the meeting. Aurel BGC experts anticipate little change in the FOMC statement. They argue that the Fed chairman should emphasize the temporary nature of the slowdown and reject any idea of a new program of quantitative easing easy payday loans. Other highlights of the week, investors will monitor the number of housing sales in the old tomorrow and in the nine Thursday. Then Friday, they will learn the durable goods orders. The latter will benefit from a rebound in transportation orders, thanks to Boeing.
Boeing in the viewfinder
All eyes will be turned to precisely the Paris Air Show, which opens Monday. Boeing launches new version of its popular 747 jetliner, highly anticipated.In an interview with Le Figaro, Jim Albaugh, CEO of Boeing Commercial Aviation (-0.42% to 73.85 dollars) believes "it takes 30% of the world to survive over time."This morning, the airline Qatar Airways has placed an order with Boeing for six long-haul 777-300 ER for $ 1.7 billion (list price).
The Supreme Court of the United States halted Monday the complaint historic partnership of more than one and a half million employees and former employees of U.S. giant WalMart Distribution (1.06% to 53.38 U.S. dollars) wage discrimination.
NYSE Euronext (-0.06% to 33.32 dollars) announced Monday in a statement the actual launch on July 11 of the first platform for bond trading companies in Europe, the project has given the green light of the Financial Markets Authority (AMF).
The side of values, General Electric (-0.48% to 18.40 dollars) has reached an agreement in principle of the two largest unions of the company for new contracts."The four-year contract will enable advances on wages, pensions and job security. "
For his part, PetSmart (0.74% to 43.71 dollars) will increase its quarterly dividend to 0.14 dollar per share against dollar before 0125. The board also authorized a share buyback program of $ 450 million.
War is everyday, but at the end of the year you are doing the accounts … For eight years, the winner is Airbus, both in terms of shipments of orders at the expense of its rival Boeing. And every two years at Paris Air Show, the manufacturer makes Toulouse a point to increase the ads. Behind these record sales of a European officiating … American John Leahy. Who was responsible for marketing a small American manufacturer, Piper Aircraft, before becoming sales manager of Airbus North America in 1985 and Airbus in 1994. Here, in this country that looked very carefully built the planes in Toulouse, as Leahy made his debut and had his first successes, as with Northwest, he has persuaded to buy ten A320s and take an option on 90 others.One way to make him test this device.
"Persistence pays," he said today as he presides over the destinies of commercial Airbus for over seventeen years. In his office in Blagnac, the excitement as we approach the show is palpable and the boss's schedule is constantly changing.
Whenever the negotiations that lay ahead endure short, its secretariat change his schedule because John Leahy taking and never give an answer to everything. Hence the rumor that the staff of Boeing starts each week by asking, "Where is Leahy today?" The character is but little known in France as it is attached to Toulouse, where he moved with his wife and children, carefully taking away from the Parisian establishment."I'm not the boss of Air France or Renault, so I do not need that." This also allowed him to cross safely multiple turbulence in the management of Airbus. While recognizing today have been in an awkward position in 2006, when the great Franco-Prussian War at Airbus. Its longevity is admired Richard Branson, the Virgin boss, that Leahy had convinced to be equipped with Airbus business cards design. "If there were so few portraits of me is that I do not spend any time. To make a presentation of my products, I can run the world, not for an interview. Same problem with the French language, he admits.I could never bring myself because my days are busy. "
"The indefatigable American", as it is called in Toulouse
It is not impunity commercial director of Airbus, especially in an area where, for historical choice, English is the working language. This does not prevent Leahy to have a real commitment to our country. "France is an extraordinary country, he said, smiling. No other country has as many talk shows parade where specialists of all kinds. And I know of no other country where you can stay three hours at the table to talk about politics and culture. But it may be a good thing. Watch a plane, it's a mix of technology and aesthetics.Just shop around for a A380 to be amazed, as if before a masterpiece. "
When, in 1994, Jean Pierson, the symbolic head of Airbus, Leahy proposed to moving to Toulouse, the problem arose from an international school for their children. "They had six, 10 and 12 years and did not speak French, recalls John. Since then, Airbus has remedied the problem by creating one of the best schools are, thus facilitating the arrival in Toulouse of executives around the world. "
Up at dawn, some exercises just to keep an online endangered by the many business meals which his position involves and direction Blagnac driving his Mercedes hybrid. In his office, his two secretaries teams take turns. It is at the heart of Airbus strategy, where they prepare all purchase contracts.It is here mounted power the European manufacturer, which has managed in three decades to become the world's leading manufacturer of civil aircraft, ahead of rival Boeing.
"We resist '. That is what could be read on the sign of one of the protesters took to the streets of Athens on Saturday to protest against austerity measures additional adopted by the Greek government to clean up its public accounts. Responding to the call of the country's two main unions, GSEE (private sector employees) and ADEDY (public sector), the thousands of protesters denounced the identified "social barbarism" After the enhanced supervision of international institutions in their countries . "We oppose the government and the memorandum for these barbaric actions and antisocial," said Gregoris Kalominis, an official of ADEDY.In a joint statement released on the sidelines of the event, the two unions have called for "a different economic policy, with measures of development and social measures that preserve jobs and increase our social and economic rights."
A plea against the recent economic decisions imposed on Greece. Yesterday, the country has received the "troika" (European Central Bank, European Union and International Monetary Fund) the green light for the payment of this summer's fifth installment of the loan of 110 billion euros granted in 2010. But a green light conditioning to "accelerate fiscal and structural reforms in the country", which Moody's rates still at 50% the risk of default within five years. Enough to arouse the wrath of the unions.Indeed, George Papaconstantinou, the Greek finance minister, has already announced it is less than a month an austerity plan for 2011, about 6.4 billion euros.
Hardening of social climate on another front
After nine general strikes, mobilization has been moderate on Saturday. The demonstrators were mostly employees of the public power company PPC, port employees and teachers. An event that went smoothly. Nothing to do with the excesses seen in previous demonstrations.
Mobilization and social deterioration seems rather move on another front, the less supervised by trade unions or political parties. Already experienced in Spain, a spontaneous party Internet illustrates the ras-le-bol of the Greeks, that of "outrage".Now, they do not hesitate to take sides publicly in the political class and physically, according to them responsible of the current situation. For ten days, these "outraged" gather every evening on the Constitution Square, just before the Greek Parliament.
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