World and National News

Hesitation waltz at the Paris Bourse. The CAC 40, which opened in the green in the wake of Wall Street erases most of its gains to move around equilibrium midterm, just above the 4,000 points, he found the day before. The index symbolically Paris advance of 0.01% to 4001 points.

The trend is also vague on other major European markets. In Frankfurt, the Dax as grapppille ACC 0.01% at 6157.7 points Monday after reaching its highest level since September 2008 while in London the FTSE slips 0.09% at 5705.5 points.

The figures in France

INSEE released at 8:45 the detailed national accounts for the fourth quarter. The GDP grew Hexagon as previously estimated 0.6% in the fourth quarter. On the year, growth fell by 2.2%.

Household consumption grew by 1% over the last three months of 2009.Purchasing power has slowed (+0.2% against +0.5% in the third quarter), but rose by INSEE of 2.1% throughout the year.

Moreover, the number of starts of new homes in France fell 12.8% during the months from December 2009 to February 2010 compared to the same period a year ago, and the number of building permits has folded by 14.3%, said Tuesday the Department of Ecology.

Across the Atlantic, all eyes will be on the S & P / Case-Shiller housing price, to be published 15 hours. An hour later, consumer confidence will be unveiled in March.At 18:30, the economic advisor to President Barack Obama, Paul Volcker, will speak at the Peterson Institute.

But the main highlight of the week on the macroeconomic level is expected Friday with the release of monthly statistics of unemployment in the United States.

The Multaq Sanofi recommended in the United Kingdom

EDF (+1.69% at 55.77 euros) is leading the largest increases of ACC 40.Merrill Lynch raised its price target to 47 euros, against 45.4 previously, and reiterated its buy advice, believing that the future law on opening the electricity market should "significantly improve the visibility" on the active French EDF payday loans online.

Sanofi-Aventis (0.50% to 41.25 euros) announced Tuesday that the National Institute for Health and Clinical Excellence (NICE) has released a new report evaluating the medicine of the future, the Multaq in which the Institute expressed its intention to recommend the use of this drug for the treatment of patients with atrial fibrillation. The drug for heart disease from Sanofi-Aventis had been considered "poor" by the Commission on transparency in France, which had sealed the title of the pharmaceutical company.

The TGV Tours-Bordeaux Vinci

On Tuesday, investors have taken note of the happy elect of the draft Tours-Bordeaux TGV. Vinci (+1.45% at 44.11 euros) won the tender for the contract by more than 7 billion euros against Eiffage and Bouygues.

Wendel (-2.83% to 44.91 euros) announced a net loss of 809 million euros in 2009.The net asset value has doubled since 2008 and stood at 56.9 euros per share.

Vranken Pommery, it said net income Group share up 7.8%. The group spiritueuxversera Champagne and a dividend of 1.15 euro. The title wins 2.50%, to 30.75 euros.

Pre-market Transdev, whose merger with Veolia Transport should be completed in the second half of 2010 will hold a press conference presenting the results and balance sheet activity in 2009. Veolia wins 0.44% to 26.11 euros.

On Tuesday, will also be held a hearing at the Commercial Court of Paris on Natixis (+0.20% to 4.02 euro).Minority shareholders, united behind the consultancy Deminor have assigned the bank in early January for "spreading false, misleading or deceptive on the prospects for Natixis in its creation.

After Hours, the annual results 2009 Neopost (balance) will be published.

Specialist Theolia wind blows. His financial restructuring plan has been approved by its shareholders, "an overwhelming majority," March 19 last.

The group headed by Eric and Peugeot will be able to launch its capital increase of between EUR 45 and EUR 100 million, by August 31, 2010, according to a statement released Monday.

Announcing (end December 2009) the need to raise these funds, investors had reacted very badly on the stock market – securities Theolia have plunged over 15% in session – for fear of being heavily diluted.

But this capital increase is part of the agreement by Theolia with its major creditors to reduce its heavy debt cash advance america.

The group has negotiated to modify the terms of his contract issuance convertible bonds (bonds convertible into new or existing shares) amounting to 253 million euros.

In exchange for a lower conversion price of convertible bonds, and partial reimbursement of their immediate Theolia got its bondholders a reduction and an extension of its outstanding debt until 2015.The restructuring does not require launching a takeover offer.

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"Wind turbines are becoming more vulnerable

Calculations of future property owners will soon have to change. According to Les Echos, the government would work aggressively to replace the tax credit on mortgage interest to, in effect since summer 2007. This tax advantage should be replaced next year by using direct state inflate the supposed personal contribution of households seeking homeownership.

According to the rapporteur of the budget Gilles Carrez UMP and MP Michel Piron, the current tax credit has its limits. This is a tax credit of 40% interest the first year and 20% four years following the acquisition of a principal residence. All in the limit of 7,500 euros for couples, plus 500 euros for each additional dependent.But this aid, which is paid only one year of purchase, would not have to drive up the share of first-time buyers in the total number of buyers at 70%, as desired by the government.

Worse for him, this assistance will be transformed into a niche tax for 376,000 households have benefited. The bill for the Government in 2009 amounted to 1.05 billion euros.

A reform modeled on the loan at zero

To fight against this windfall and increase the number of low income among the owners, the government should establish a direct support that would be paid at time of purchase. Directly integrated with the personal contribution, the latter would get loans more easily.

As the zero-interest loan, this assistance is not calculated as a percentage of interest paid but would be flat.It depends therefore tested household and would be combined with a zero interest loan. Small households are thus favored. The amount of aid will also be calculated according to the area of purchase.

The banks are not forgotten by this new device because they receive a tax credit on the companies. The state will also reimburse the loan interest on a shorter period than households.

The government hopes the bill contain the device to its projected level in 2010, 1.5 billion euros. The measure should be passed through the Finance Act 2011 and implemented starting next year.

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The property sector shows optimism

"Rates should go" before the end of the year "

While Dubai World to present on Thursday a plan to restructure its debt of 23.5 billion dollars, the government of Dubai, through its fund for financial support in place last July, will provide financial support 9.5 billion dollars in conglomerate.

These funds "come from $ 5.7 billion remaining of a loan made earlier by the government of Abu Dhabi and own resources of the Government of Dubai," the statement said.

Dubai World said that its total debt was 23.5 billion dollars but that the Dubai government had proposed to convert its equity share of 8.9 billion dollars, or 38% of total debt instant payday loan! !???!!!???!!!.The 14.6 billion U.S. dollars remaining will be reimbursed at 100% over a period of five to eight years, says Dubai World.

The total debt of Dubai, meanwhile, is estimated between 80 and 100 billion dollars but some experts say could reach $ 170 billion.

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The bill to regulate the consumer credit finally arrives Wednesday at the National Assembly. Already adopted by the Senate in June 2009 and debated in committee in the National Assembly, he aims to "facilitate access" to credit for consumption and to "avoid excesses". Before the deputies committee, Christine Lagarde, Minister of Economy has defended a credit "contributes massively to support certain industries, such as mail order and the automotive sector," while not forgetting the excesses and abuses to which this credit may result if not properly supervised. "

The Bill seeks end to "ensure responsible distribution of credit, creating additional obligations for industry (specialized institutions, supermarkets).As it stands, the full account and delete the "black spots" of revolving credit (also called renewable) often lead to debt for the most vulnerable households. The revolving loan indefinitely should no longer be allowed, Lagarde law limiting the repayment term (3 years for a credit less than EUR 5 000). Likewise, financial institutions will be forced to offer not just a revolving credit (average 16%) on sales premises. They will also make an alternative offer of personal loans (average rate of 7%). The ads "aggressive" will also disappear. New posters should be explicit and clearly mention the term credit. Exit therefore, the promises of "air cushion".The appropriation in which the consumer "in without the knowledge" in connection with the purchase of a loyalty card, and the "credit blind", without checking the creditworthiness of the customer will also be banned unsecured personal loans! ???!!!???!!!. The law also aims "to better help people with debt problems," Christine Lagarde said on Wednesday that will make new proposals to strengthen the fight against indebtedness.

The positive file divided

"In the future the consumer will certainly be better protected. But financial institutions will still be able to sell massive amounts of revolving credit, sorry Nicole Perez, National Director of the UFC-Que Choisir.For its part, the Afub said that "beyond these measures, it is certainly essential to note their failure to control a sustainable revolving loan and to fight against the danger of debt."

Overall, consumer groups have asked that the text should go further by imposing such a complete separation between loyalty cards and credit cards. The bill also proposed withdrawal of parliamentarians of all stripes, many calls for reform of the rate of wear (maximum interest rate close to 20%) and the creation of a positive file listing all loans to individuals. This latter issue has divided many years, consumer groups, credit institutions and politicians. Tuesday Cresus the Association Agreement and the bank have also called for the creation of a national credit.

In the Assembly, the passionate debates ahead. More than a hundred amendments have been tabled.

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The debt at a high level

"An appropriation should not be used to reimburse another»

The defeat of the right in regional elections on Sunday worried some economists. "The political situation, with a government clearly weakened, is not conducive to the development of structural reforms painful" but necessary to reduce debt, said Gilles Moec, economist at Deutsche Bank in a note. But "in the current environment, the political uncertainties could traduirent by the rising cost of debt financing. Clearly, higher interest rates.

The France is among the three countries in the euro area with Italy and Germany, which show that in 2010 the budget as balanced. Official projections, also considered optimistic by the European Commission, expect a budget deficit of 8.2% of GDP.And for the moment, Paris' delay in entering the field of discipline, "the report said the economist at Deutsche Bank.

Pension reform

To reduce the deficit, the French government will continue not to replace a staff of two and intends to tackle the pension system. "We believe that the pension reform will result, economists said the German bank. "Public opinion has changed on this subject in recent years" for an overhaul of the system.

Certainly, the defeat of the regional majority does not challenge these policies. But more is required to reduce deficits. "Reforming the pension system and reducing the number of staff may be insufficient, while the government refuses to raise taxes, except in very specific cases of tax loopholes," lamented Gilles Moec.

Still, "the government had never officially announced policy of rigor before the regional elections," said Eric Heyer, deputy director of the Office of the French Economic Conditions (OFCE). "In fact, most of the effort requires a strong control of public spending."

After defeating regional, the next election, the presidential election in 2012 will dampen she also wishes to reduce the deficit? "It is not clear," says Gilles Moec. "The question on debt and deficits has become a major concern of French. It could be paying politically difficult to pursue a policy of austerity at a time complicated. "

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The victory was expected, but nonetheless delighted the leaders of Thales Alenia Space. The subsidiary of Thales, 67% owned by him and 33% by Italy's Finmeccanica, has won a lucrative contract for the construction of six European meteorological satellites third generation. The European Space Agency (ESA) made the announcement Friday. The contract amount is not included in the release of Thales, but industry sources estimate it at 1.5 billion euros.

"If the negotiations end with success, management will submit the contract to the committee for industrial policy of ESA for approval and action by member countries participating in the program. What is envisaged for June, "said Agency.The satellites must be in operation from late 2016.

"We are proud to meet the challenge of more ambitious geostationary satellite ever developed in Europe," said CEO of Thales Alenia Space, Reynald Seznec, quoted in the press. Sites of Thales Alenia Space in Cannes and Toulouse, as well as those of OHB in Bremen and Munich will be involved in the project, in "in close cooperation with the German industrialist."

"Forecasts near-real time

These satellites MTG (Meteosat Third Generation) should help predict the weather with greater accuracy. Unlike existing satellite, they will be stabilized in three axes with a set of wheels and will no longer need to turn on themselves, allowing them to operate continuously."The shots will be more frequent," said Donny Aminou, head of MTG instruments to the European Space Agency (ESA) bad credit payday loans . "Plus we have accurate data, the more we improve the accuracy of weather forecasts in near real-time, but in the long term through improved models to better assess what will happen in five or six days, and even make the longer-term data on climatology, "exults the scientist.

The atmosphere can be observed every 10 minutes instead of the current 15, while satellite imagers MTG will provide coverage of Europe every 2.5 minutes. In addition, a lightning detector on board imaging satellites of MTG to see upcoming rainy training.The forecasters can anticipate the time with a margin of error smaller. A rainy period, instead of being announced with a probability of 80%, may for example be 90%.

EADS cringe

Happiness Thales is a natural misfortune of EADS. Astrium, a subsidiary of the European manufacturer dedicated to space systems and services civilians and military, was also in the race. The ESA noted that both bids were "technically good" and lower the amount of the budget imposed. But he explains that he chose the Thales offer because it was cheaper.

This announcement is another setback for the group who had already failed earlier this year another major contract for the European navigation system Galileo satellite, given the small German group OHB. Questioned by AFP, Astrium (EADS) declined to make comment.

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After the madness of the Netbook, here come from the Internet Tablet. This is reduced to a computer touch screen, in color, which can surf the Internet, play games, watch movies, listen to music, reading newspapers and books. The Apple iPad, which will be marketed in April, "will revitalize the market for tablet PCs, which could reach for the equipment alone, 12 billion dollars in 2014," says research firm Strategy Analytics.

On the PC market, which continues to grow in units at a frantic pace but stagnant in value, a revolutionary new product is an opportunity of choice for manufacturers. As with every change in technology, new players could emerge, as was the case with the netbook, which has allowed the rise of Taiwan's Asus and Acer.

Since 2010, he could sell 10.5 million tablets of the Internet, said Gartner.Alone, Apple could sell 4 to 6 million units iPad, believes his side firm GfK. The firm's apple is not alone in this ball of suitors. The French Archos hopes a return to grace with his tablet PC equipped with operating system Windows 7.

In late March, just before placing on the market iPad in the U.S., Sony could make a stretched version of its portable game console PSP foothold in the niche of Internet tablets, said recently the Wall Street Journal.

HP, the world's number one PC, plans soon to launch his magic slate. Presented earlier this year by Steve Ballmer, CEO of Microsoft, Slate HP recalls the Apple iPad. "We continue to finalize our product. We expect to launch Slate around the summer, "says Eric Cador, the boss of HP's PC division in Europe.His tablet use "operating system Windows 7," warns one from HP.

Cooperation with the content

One way to respond in advance to the ambitions of Google with Chrome operating system OS, which should be used this year for large touch screens. Meanwhile, Slate is the most innovative product promised by HP's PC division this year. And Phil McKinney, a charge of HP's research, says that in three years it will be possible to launch an "Internet Tablet flexible.

For its part, the director general of Taiwan's Asus is also planning to enter the market for Internet Tablet "provided to establish cooperation with publishers of content in music, video games and movies.This ambition is shared by other manufacturers reported.

For Internet Tablet "might cannibalize existing products such as netbooks, digital media books and mobile devices to surf the Web," suggests one expert from Strategy Analytics. It will also be a way to renew the genre, for the Tablet PC, launched some ten years, never really took off.

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After the United Nations Conference on Trade and Development (UNCTAD) and World Bank, it was the turn of the IMF (International Monetary Fund) and the Bank of France to take a position on the yuan.

Invited BFM Radio, this Tuesday, Christian Noyer, governor of the Bank of France said that "to have a robust and sustainable growth for world economies, the issue of currency must be resolved. In G20, we are negotiating with China to find the right system to get the best balance.

"The G20 must address the issue of exchange" (Walnut)

He deplored the existence of two systems with a share of them floating currencies like the dollar, the euro, the pound or the yen and other currencies fixed, as the yuan."If a small country has a fixed currency does not pose a problem, but the fact that this is a country central to the economy, the coexistence of these two sytems is therefore more feasible," said Governor Bank of France.

For its part, Dominique Strauss-Kahn, IMF managing director, in a speech to the European Parliament in Brussels, ruled Wednesday that the Chinese currency was "very undervalued", echoing account criticism of the United States.

For the former French Minister of Economy, Finance and Industry, a reappraisal of the yuan through a Chinese growth "more driven by domestic growth" and consumption, and less by exports and cheap products payday advance . A model that China will continue to develop.And for this, the Chinese government has reiterated its desire to stimulate consumption. Thus, 14% of Chinese GDP, under the stimulus plan has been devoted to domestic demand.

Pressure on Barack Obama

Tuesday, UNCTAD said that letting the yuan float would not solve the problems of trade imbalances, an argument advanced by Washington. For its part, the World Bank has advised Beijing to let its currency appreciate.

After the open letter sent Monday by one hundred thirty legislators to U.S. Treasury Secretary and Secretary of Commerce, five U.S. senators have proposed a text yesterday to redefine the criteria by which a currency is considered handled.Where manipulation proved, trade sanctions can be taken through tariff barriers on imports for example.

The increasing pressure on Barack Obama, U.S. officials did not hesitate to bring to account the "undervalued" yuan a share of the rise in unemployment across the Atlantic. The legislators also believe that the low level of the Chinese currency is an indirect subsidy to Chinese exports and import taxes.

"Read the text of the letter

The aerospace supplier Zodiac Aerospace publishes Monday sales down sharply for the first half shifted 2009/2010. In this period, group revenues fell 12.8% to 966.1 million euros against 1.1 billion a year earlier. The Aircraft Systems Segment is the most affected with a decline in turnover from 25.7% to 219.6 million euros due to lower sales in the aviation business.

For group management, however, these results are consistent with expectations. "Despite the economic crisis affects, as expected, with a few months later the entire aviation industry suppliers, the activity of Zodiac Aerospace resists the first half," said a statement.

Signs of improvement have also been detected in the second quarter, when revenues decline by 10.6% was less marked than in the first quarter (-14.9%) guaranteed cash advance . The Group therefore maintains its goal of operating profitability of 8% on the basis of an average euro / dollar of 1.50.

For 2010/2011, Zodiac placed on an improvement "sensitive" to the economic situation, thanks to a recovery in air traffic and the intentions of deliveries of major manufacturers. Management expects a net profit whose development will be consistent with current operating income.

On Monday at the Paris Stock Exchange, the shares closed down 2.04%, to 33.865 euros in a market decline of 0.93%.