World and National News

Thousands of patrons are expected today on the HEC campus in Jouy-en-Josas, a suburb of Paris to attend the first day of summer schools of the MEDEF, will run until Friday.

Re-elected handily in July for a second term of three years, Laurence Parisot has decided to head for the international competitiveness of enterprises. It therefore logically chosen as the theme for this event "The strangeness of the world" to show how the economic crisis has transformed the rules and forces companies to explore new modes of employment. "We face a world that we know but we do not recognize: we know China and India, but we did not imagine they would change so quickly at this point," says the President of the MEDEF.

175 stakeholders from 27 nationalities will be present during these three days.The opening session will be addressed by business leaders from North and South. Hari Bhartia, President of the Confederation of Indian Industry, John Chambers, CEO of Cisco, a giant high-tech American, Jacques Diouf, FAO Director General, Tom Donohue, president of the U.S. Chamber of Commerce and China's Yan Wan , founder of sina.com, China's first website information on the Internet, will interact with Laurence Parisot.A telepresence, an improved form of teleconferencing, will allow the Chinese to attend these debates.

Defending entrepreneurship

Ten cabinet members, including Christine Lagarde, Minister of Economy, Herve Morin, Minister of Defense, and Hervé Novelli, Secretary of State for SMEs and Crafts, as well as leaders of the CAC 40, which Frederick Oudéa , CEO of Societe Generale, and Christophe de Margerie, Total's CEO, will participate in these universities.

Medef will also defend the spirit of enterprise and new forms of entrepreneurship as a freelancer. The employers' organization wishes to put his back under the banner of "competitiveness more equitable.

She also wants to emphasize the key role of medium-sized companies employing between 250 and 5000 employees, SMEs and micro enterprises to resume growth.Laurence Parisot hope that the next G20 dealing with the matter of funding.

The French insurer Groupama has released disappointing interim results. Its net profit reached 127 million euros, down 23.6% YoY. The group accuses the shock of the storm Xynthia and high volatility on financial markets.

Its combined ratio of activities damage (sum of management fees and cost of claims in the total premium income) deteriorated to 104.5%: insurance costs thus exceed the premiums. This poor performance is explained by the ravages of storms, but also by the increase in automobile accidents.

Groupama maintains its ambition to achieve by 2012 an operating profit of 700 million euros. In the first half of 2010, this result was limited to a modest 179 million euros."Programs to improve the operational performance will continue during the second semester," pleaded John Azema, CEO of the mutual group.

Groupama has been preparing since early 2006 to go public. The operation would be launched following a major acquisition. Acquisition, still awaited. The time of the introduction has not yet come, but the operation remains in the long-term strategy of the mutual insurer, however, provides the CFO Christian Collin.

Turnaround at the Paris Bourse. The CAC 40, which had started the session on a drop of 0.59% to 3473.48 points, the green is gone over in around 10:30 am and continues to increase its gains since. Halfway through, the key index in Paris gained 1.48% to 3545.56 points. After the opening of Wall Street, the ACC has added to his lead to cross over the 3600 points at closing and post a gain of more than 3.05% at 3,600.057 points.

Main explanation: the set of indicators published in the euro area, which show a recovery in the private sector. Can better results than expected for a large number of American business.

– Composite Index Purchasing Managers (PMI) of the area rebounded in July for the first time in three months, to 56.7 points against 56 points in June, according to the firm Markit.In detail, the PMI manufacturing stood at 56.5 in the first estimate in July against 55.6 in June, while economists polled by Reuters had expected 55.2. The equivalent index for services rose to 56.0 against 55.5 last month and a consensus of 55.

– The industrial orders in the euro area recorded its strongest growth for 10 years + 3.8% in May from April and 22.7% compared to May 2009. Economists and analysts surveyed last week by Reuters on average expected stability for May compared to April and up 20.2% over one year.

– The German manufacturing PMI index stood at 61.2 against 58.4 seen in June and 58 expected by economists. As for Britain, the Office for National Statistics reported a 0.7% increase in retail sales compared to May and 1.3% over one year.Economists and analysts on average had forecast a rise of 0.5% a month to month and 1% compared to June 2009.

In France, INSEE announced before market that the morale of French consumers had stabilized in July after five months of degradation remains unchanged at -39, -40, when analysts had expected. The business climate indicator in industry climbed two points to 98, well above the 94 expected by observers. This is its highest level since July 2008. According to INSEE, the order books are filling up again but are still scanty.

The good news is a bit overshadowed the remarks of Ben Bernanke on the U.S. economic recovery. Judge it still too slow and the outlook remains uncertain, paving the way for new measures to support monetary policy.These ads were yesterday meant to topple the Red Wall Street, while the U.S. stock market is moving in the green throughout the session credit reports free.

The bank climb until the stress test

Investors also await with anticipation the release Friday of the results of resistance testing What happened to the European banks. In an interview with Le Figaro, the Minister of Economy Christine Lagarde said she was "totally confident" about the results of French banks.

The banking sector appears up on Thursday, the eve of the results of stress tests of European banks.BNP Paribas (4.76%), Societe Generale (5.08%), Credit Agricole (5.55%) or Dexia (3.74%) were searched

Good resistance values related to the automobile

The supplier Faurecia (1.15% to 15.49 euros) announced before market coming out of the red in the first half of 2010, net income of 102 million euros against a loss of 365 million a year earlier. The group has also sharply raised its guidance for full year. Peugeot (3.15% to 23.73 euros) and Renault (3.36% to 34.26 euros) react to this new optimistic that counterbalances the announcement of a sharp decline in car registrations in Europe in June

For his part, Remy Cointreau (0.65% to 45.14 euros) announced a turnover in the first quarter of 2010 to 2011 of 170 million euros, up 23.6%.The group will propose a dividend of 1.30 euro to the general meeting of July 27, 2010.

Plastic Omnium (2.13 to 38.90 euros%) has announced a net profit of 72.3 million euros in the first half against 8 million euros a year earlier. Turnover amounted to 1.518 billion euros and the group expects a second half "dynamic".

Technip (7.42% to 52.07 euros) published a decline in its net profit by 8.7% to 106.1 million euros for a turnover down 14.3% at 1 48 billion euros. The objectives are confirmed.

Naproxcinod of Nicox rejected the U.S.

NicOx (-21.07% to 2.24 euros) could be heckled.The FDA, the authority of medicine in the United States, has rejected his request for the U.S. market Naproxcinod of this treatment against osteoarthritis, a product NicOx expects a lot.

Unibail-Rodamco (5.42% to 147.70 euros) on Wednesday decided to distribute 1.8 billion euros to its shareholders, or 20 euros per share in respect of a return of capital. The land has issued a recurring earnings per share of 4.70 euros in the first half of 2010. The band reveal all its first-half results after market close.

D-Day for Marcello Convite the boss of the small company that wants tricolor Carmat conquer the world with its first total artificial heart biocompatible. This Tuesday, in fact, that the start-up takes its first steps on the Paris Stock Exchange, having packed the heart of investors. In difficult market conditions, the SME accompanied by Truffle Capital, its largest shareholder (30%) and EADS, has done better than expected, raising 14.5 million euros at a price of 18.50 euros per share enhancing from the outset the company 75 million. A great appreciation for its Director General who has taken brilliantly in the year, new to him, the financial road show.

This Italian 57 years, trained in computer technology and speaks five languages, has not missed any arguments to "sell" the young company and its innovative and promising.His prosthesis, implantable total artificial heart developed by Professor Carpentier of the Georges Pompidou Hospital, from 2013 should help save tens of thousands of cardiac patients. A challenge that fascinates Marcello Convite former IBM and Fiat, paid for thirty years in the life sciences. He held until last September to senior posts in the American International Edwards Lifesciences, who had just bought to Professor Carpentier's revolutionary concept of cardiac valves. For Dr. Philippe Pouletty, CEO of Truffle Capital, with the artificial heart (which will remain French …), Carmat has "all the ingredients to become a global technology company beautiful. "A great adventure of entrepreneurs, leading the veteran of the biotechnology industry has also brought public in April and companies Neovacs Deinove.

Carmat is, in fact, primarily a story of men.An R & D secrets first, initiated in EADS by Jean-Luc Lagardere and Professor Carpentier and developed for 15 years by a team of engineers led by former "Mr. International" of EADS, Jean-Claude Cadudal, president of Carmat.

Beside him, the engineer, former head of EADS big projects, and "very good teacher," Patrick Coulombier, also played a key role. It is today, with Marcello Convite DGA society. It was created in 2008 under the leadership of Philippe Pouletty because, after the release of préprototype, "he had to go to the next level." By convincing the engineers of the European giant switch in the start-up and live the adventure.

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Earlier this week to smooth the Asian stock markets. On Monday, all the financial centers of the region displayed a slight increase in the wake of Wall Street and European stock markets Friday. The latter ended the week up one week after chaotic.

In Japan, the Nikkei gained 0.20% to 9,604 points in mid-session after starting on a decline of 0.50%. The Topix is 0.23% at 863 points. The benchmark index of the Tokyo Stock Exchange has taken the time to digest the defeat on Sunday, the Democratic Party of Japan (DPJ), in power, the Senate elections. The failure of the movement of the Prime Minister Naoto Kan weakens the leader of the center-left and opens a new phase of political uncertainty for the archipelago. Investors fear at this stage a deadlock in parliament could hinder the policy of reducing public debt, estimated at 200% of gross GDP.After their defeat, the DPJ and its ally, a small nationalist party, retain only 110 seats, the majority being fixed at 122 seats. The coalition remains however a majority in the Chamber of Deputies but must negotiate alliances with opposition parties on an ad hoc basis to enforce its laws.

Yen flexes

Despite caution, this defeat has not overwhelmed the markets. "The results of this election are obviously not positive, but at this stage they are probably neutral rating, investors had already considered the possibility that the ruling party does not obtain a majority, explained before the opening Yutaka Miura, analyst at Mizuho Securities.

The news has at least led to a weakening of the yen has benefited from the index. "The Prime Minister Kan will have difficulty in passing laws.It is therefore logical that few foreign investors buy yen, "said Hideaki Inoue, head of foreign exchange market to the bank Mitsubishi UFJ.

In terms of macroeconomic indicators, the Bank of Japan reported on Monday a slight increase,% yoy in June wholesale prices on the domestic market. It is the second consecutive increase in this index, which had previously declined for nearly a year and a half without interruption.

The region in the green

In the wake of Tokyo, the other places in the region rise slowly. In China, Shanghai and Hong Kong respectively gaining 0.81% to 2490 points, and 0.67% at 20,516 points. The National Bureau of Statistics (NBS) announced this morning that housing prices had continued to increase but at a moderate pace in June, further evidence of the impact of government measures to prevent runaway industry.Prices listed in 70 cities rose 11.4% last month, against 12.4% in May

In Korea, the Kosdaq is 0.52%, while the S & P climbed 0.31% Australian and Indian Sensex appears up 0.89%.

Oil gains ground

Crude prices were moving upward Monday in electronic trading in Asia brought by a rebound in financial markets.

In morning trading, a barrel of light sweet crude for August delivery took six cents to 76.15 dollars a barrel, while Brent North Sea with identical maturity, gained 3 cents to 75.45 dollars .

"This is not because there is the economic crisis that the climate crisis is over!" While in Paris on Thursday to meet with parliamentarians and French employers, the European Commissioner for Climate, Connie Hedegaard, continues to carry the torch the fight against greenhouse gas emissions. Proof that it should not lower our guard, even though the cold winter in Europe was an illusion, the past twelve months have been, globally, the warmest ever recorded.

Asked about the carbon tax at the borders of the European Union (EU) dear to Nicolas Sarkozy, Denmark's answer, in accordance with the wishes of the French president, the European Commission has discussed this mechanism among the various instruments to reduce CO2 emissions in a communication dated May 26"But I prefer to leave it in the toolbox."

A trade war

As the British Government and several of his fellow commissioners, Connie Hedegaard think raising the price of imported goods like Chinese steel example, according to their carbon footprint is "extremely difficult to implement." Most importantly, "Is that such a measure would help the Chinese to be constructive?" Asks she, fearing a trade war if the environmental barrier was erected on the borders of the EU. One of the arguments of French supporters of a "border adjustment mechanism is that it may help to avoid relocation of jobs to countries where less stringent rules on carbon can produce cheaper.Better to engage in innovation and green growth to create jobs in Europe, contends Connie Hedegaard, as echoing the credo of the Obama Administration.

Former Danish Minister of Environment, which, as such, has chaired the conference in Copenhagen, believes that for the modest agreement in December 2009 ripped credible, rich countries should honor their commitment to pay this year 10 billion dollars promised to the most vulnerable. The finance ministers of Twenty-Seven detailed in May and pay their share of 2.4 billion. These additional funds, a majority of donations and a minority of loans will be paid directly by the Member States. To date, recipient countries have not seen the first euros of new funds.

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The words of François Fillon is rare. Very calculated. No frills. A fortiori, when the prime minister decides to hold a press conference at Matignon. The first three years. This means if the head of government who just beat the longevity record of Jean-Pierre Raffarin chose solemnize a media intervention to seventy minutes.

Following the success of union mobilization against the proposed pension reform, Francois Fillon has stepped into the breach. Only behind his desk, the man of the previous pension reform in 2003, has no trouble capturing the subject. For ten minutes he hammered a message: the government will not budge on key pension reform. Especially not the raising to 62 the legal age of retirement."There can be no question of going back to what is the foundation of reform," he warned while leaving open the possibility of adjustments in other components of the project. "With the President of the Republic, we do our duty," he said, denouncing the balance of Martine Aubry, who has never "nothing" done to reform pensions. The number two PS Harlem Désir immediately blasted an "end of inadmissibility to the French" and a "strategy of contempt.

Closes on pensions, Francois Fillon has become frankly martial when he addressed the issue of recovery of public accounts. In the absence of Nicolas Sarkozy went to Toronto for the G20 summit and before the announcement next week of budgetary decisions, the Prime Minister gave the tempo.If the word is always strictly taboo in his mouth, he has taken a further notch by preparing the French to "extra efforts".

From the beginning of the week the Minister of Economy Christine Lagarde and Secretary General of the Elysee, Claude Gueant, have succeeded in the media to prepare minds for a new round of screws. Donning the costume of Raymond Barre Matignon in 1976 presenting his first austerity plan, Francois Fillon hammered. Drawing on the same register as his distant predecessor, it took time, "Do not expect me to be a weakness guilty.It is time to break the spiral of debt. "

Challenging the word rigor, Fillon has warned that there would be bad news: "If growth were to be slightly less buoyant than expected, we should not shrink from the need for additional efforts." For the first Minister (as Christine Lagarde) appears to be no illusions about the growth forecasts. Proof? He has already planned, "according to the situation," amplify the movement of the plane on the tax loopholes 5-8500000000 to offset the shortfall.

Christian Blanc must repay

This will be blood and tears. Francois Fillon, who was signed in 2006 a book entitled France can bear the truth, was not afraid to break the taboo Friday Sarkozyist of higher taxes: "We intend to eliminate or reduce many tax loopholes and social.So these are tax increases. "This time, it said.

Incidentally, the Prime Minister took the opportunity to prepare his ministers to painful measures. Severus, he recognized the "shortcomings and failures" without mentioning explicitly the cases involving members of his government (Christian Estrosi, Alain Joyandet, Rama Yade, Fadela Amara and especially Christian White). He admitted that there was "still room for improvement" to the ministers to show "exemplary".Francois Fillon, who has asked his Secretary of State Christian Blanc to repay their bill of 12,000 euros cigars, will announce "in the coming days," a "hardening" of the rules relating to accommodation, travel and lifestyle of Ministers.

Anyone who continues to dream of the "perfect lens" of a government limited to fifteen ministers expected already to be ruthless about limiting the number of ministerial advisors. A good way to rhyme "exemplary" and reducing government spending.

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Who would have thought? Germany and France have finally decided to combine their efforts to support the euro. Nicolas Sarkozy and Angela Merkel have they understood it was time to coordinate their efforts to support a currency previously sealed by the distrust of markets? Since the famous rumor reports of market intervention by the European Central Bank on foreign exchange markets to support the euro, the single currency has a significant revival. After touching a low of less than a 22 dollar late Tuesday, the euro was close to the $ 1.25 to 19:50.A good time to announce this coordination.

Visit Brussels on May 21

"They agreed that Germany and France will work in close coordination with each other during the meeting which will begin May 21 in Brussels, said yesterday evening, the spokesman for Angela Merkel.

However, President of the Republic, during a joint press conference with British Prime Minister, David Cameron, argued that there was "no disagreement" with the German chancellor. Instead, "there is complete agreement" on the principle to consider new sanctions against the countries of the euro zone whose deficits are too large.

The rider from Germany irritates Lagarde

The two leaders have long debated on Thursday by telephone. No doubt they spoke of the many episodes that have seen the two countries criticize each other via the press.It all started last March, when Christine Lagarde called Berlin had to change its economic policy. Germany was obviously not appreciated that France has registered a record deficit could give lessons to an exemplary country in this field.

Two months later, around Angela Merkel to encourage European countries to follow its example in terms of budgetary discipline quick cash. A rider that markets have not appreciated at all, no more than those conducted by Berlin on Wednesday on short sales. Investors are seeing is a sign of lack of coordination between Germany and its European partners. Christine Lagarde, Minister of Economy, also regretted the unilateral decision.While stating that there was "no distance between Paris and Berlin," the minister argued that the euro was not in danger ", again taking the cons-foot German Chancellor.

"The real problem with the euro area, growth, not debt"

Guests from France 2, the Director General of the International Monetary Fund, Dominique Strauss-Kahn hammered, meanwhile, that "the euro is not likely to explode," recognizing that the risk would be that it "goes wrong" "The real problem with the euro area is not only the debts and deficits, but also and above all the growth.How is it that the International Monetary Fund expects 3% growth in the United States in 2010 and only 1% for the euro area? If the euro area showed a growth of 3%, we do not speak Greek crisis and even less deficit, "said IMF Managing Director.

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Hospitals, businesses, banks, universities, individuals … thousands of PC users have been victims of an error in Wednesday update their antivirus McAfee. The faulty update file analyzed a valid Windows XP Service Pack 3 (latest update from Microsoft) as a dangerous virus and placed under quarantine, preventing the normal functioning of the software. Consequently, the PC keeps restarting achieved, and entire networks remained off the time to repair.

The computer security company that provides pre-test all updates that address its customers, said the faulty update was passed quality control. The error was eventually detected only through the reassembled customers reporting the problem.McAfee quickly removed the update problem, thus limiting the number of infected computers by saving all the users who had not yet accepted the update of the antivirus. McAfee estimated that only 0.5% of its 125 million customers worldwide have been infected … Commonwealth Bank of Australia, Virgin Mobile, the University of Michigan, or the Upstate University Hospital … still represent enough people that stormed the homepage of the website of the company dedicated to discussions on technical issues becomes inaccessible.

A fix has been implemented on the McAfee website, accessible to all customers. It will replace the defective update with a new, valid one.The steady supply of company's blog by Barry McPherson, vice president in charge of technical assistance and customer service also allows the English-to have more information.

As for the affected computers, the intervention of an expert will probably be necessary. It must indeed get the Windows folder placed in quarantine on another computer to reintroduce the machine jammed. McAfee for now refuses to comment on possible compensation, while many bloggers are taking advantage of the error update to say all the good they think the system McAfee Twitter messages flooding the site murderers micro-blogging. Investors were not quick to show their discontent. Around noon on Thursday before the opening of Wall Street, as the accused McAfee already down more than 2%.

Geoffroy Roux de Bezieux is president of Virgin Mobile and vice president of UNEDIC.

LE FIGARO .- Do you sell Virgin Mobile Free when preparing his arrival in the mobile phone?

Geoffroy Roux de B?zieux .- I have no plans to sell as we are growing, we will invest 20 million in strengthening our systems for longer battery life, we derive the first profit in five years' investments with a positive operating result and more than 400 million turnover this year. There will probably be in the coming years a recomposition of capital. I hold 5% and I can go up to 13.5%. Virgin Mobile could also go public. This would enable our two shareholders (Virgin and Carphone Warehouse) to go out and bring a new industry partner.

There is talk of a forthcoming project "revolutionary" at Virgin Mobile.What is it?

It is too early to say but it is a major initiative around the dissemination of audiovisual content on mobile. With the development of mobile Internet, network saturation is the challenge of tomorrow. We must find a solution for segmenting purposes.

How would you assess the work of Laurence Parisot, who is seeking a second term as head of MEDEF?

There were good things: the relaxation of relations with the social partners or the creation of conventional breach. But the crisis has caused a resurgence of government intervention. I'm not sure he has to decide everything from industrial sectors of future business to save or let go.Please do not recreate the Commissariat au Plan! In this context, we can not just repeat "we want less government" or "Companies need air …" The speech "all-deregulation" is no longer convincing: the state has an essential role oversee the finance, competition, trade relations … But it remains poor manager and poor tactician. It bosses to offer a vision of the role of civil society and social partners, and demonstrate that we can be a power-cons. Laurence Parisot has not expressed this vision so far. Now is a crucial time for three years coequality only yield ground in the training, the 1% housing, employment center …

Do you fear, as the UIMM (metal), that management is "threatened with extinction in the public debate and action?

Disappearance, no, inward-looking, yes.The crisis, combined with our internal problems, has revived tensions: between small and large businesses, services and industry, banks and SMEs, elected and permanent … There is a danger that everyone is more concerned with his personal lobbying of the interest. We hear too of discordant voices. Our concern must be the unit of employers for bad credit payday loans. I remain convinced that what unites us is stronger than what divides us.

So you introduce yourself to the presidency of Medef?

I decided not to run. First President of the MEDEF requires 3 or 4 days per week, which would not leave me enough time for Virgin Mobile. On the other hand, I chose the unit of employers and a strong MEDEF. In recent weeks I have met many entrepreneurs.Some urged me to go, and many others want a debate on the issues of employers without publicly display our divisions. For some wounds have not healed. I do not want to add to current tensions already high. This reasoning applies to me as for any other candidate.

You spend your turn to try your luck in 2013?

It is too early to say whether I will be a candidate! The bosses can be learned and I have time. I'll stay here by a contractor hired through my assignments with the MEDEF, keeping my freedom of speech.

You are the vice-president of employment center. What is your assessment of fusion ANPE-Assedic?

The whole has not experienced a major failure, especially in the payment of compensation. Given the timing of forced marches and the crisis that no one had imagined, this is not so bad.But the merger has cost hundreds of millions and has not improved the service to job seekers and businesses, except that they no longer have to go in 2 separate locations.

How better?

The social partners should consider simplifying the compensation grids. This would help counselors to be more versatile and to focus on supporting the job search. It was also wrong to want to put job seekers in boxes according to their status (retrenched and entrepreneur …) rather than according to their distance from employment. Although they were both dismissed from Continental, the tire factory worker who for 30 years requires more monitoring than the young computer specialist who find a job alone, via the Internet. Finally, geographical mobility is very low, when we know that in some employment areas unemployment is 5% and others 14%.We can do much more on aid to move.

Unedic fund she measures for the unemployed at the end of rights?

We will make a gesture if the state is one. But a reasonable gesture: we have an accumulated deficit of nearly 10 billion euros at end 2010. We managed to borrow 4 billion in the fall to an exceptional rate of 2.23% but the situation has changed and we will not have the same conditions this summer when we will raise about 2 billion.

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