World and National News

Renault continues its offensive on the niche of ultra-low cost. According to La Tribune, the manufacturer plans to build a car for the price shock of 2500 euros. Specifically, the newspaper said, citing economic "internal sources", a team Renault-Nissan has come into being on 1 January next year to develop all entry-level models of the group, and a platform an engine at a very low cost payday loans in 1 hour. This morning, the manufacturer confirmed to AFP that Detourbet Gerard, who led until the range low-cost Entry (Logan, Sandero, Duster) umbrella program.

Designed for emerging the poor, this car should allow Renault to boost sales as its traditional markets crumble. On the Old Continent, the debt crisis now weighs on sales of the group.

Nathalie Kosciusko-Morizet (Minister of Ecology), Philippe Marini (UMP President of the Senate Finance Committee), Thierry Mariani (Minister of Transport), Bruno Le Maire (Agriculture Minister), Maurice Leroy (Minister of the City) and Gerard Longuet (Defence Minister) commented on yesterday's warning from Moody's to France pay day loan lenders.

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"For the UMP, the PS project threatens the AAA rating of France

"For Nicolas Sarkozy, the future of Europe is now playing

"Fillon: Triple A, a fragile achievement

This morning, the Superior Audiovisual Council (CSA) summoned the three news channels continuously BFM TV, iTV and LCI for a wake-up call muscular. The subject? These chains have gone far beyond the time allowed the Socialist Party (PS) during the primaries. The rule of speaking time issued by the CSA requires TV stations to give the parliamentary opposition (PS), a talk time of 50% that of the majority bloc. Settlement takes place on three months of information for newspapers and magazines for six months of information.

However, the CSA noted that the period from 1 July to 30 September, the news channel did not respect this balance on newspapers for information."ITV has given the opposition parliamentary speaking time 146% higher than that of the majority, BFMTV gave 142% and 130% LCI! Unheard of at this level "protests Christine Kelly, a member of the CSA in charge of the case. "The time allowed to PS was significantly exceeded" acknowledges CEO Guillaume Dubois BFMTV. "We have given priority to the information. Now the case has raised the antenna DSK in July and August, the Senate elections and primaries PS mobilized in September. We invited representatives of the majority but they decided to be discreet "defends Guillaume Dubois. "It's not the fault of having warned replies Christine Kelly. I have met for the first time in July and I have warned against a possible slip of the Senate and the primary "

Tomorrow morning, the CSA will meet in plenary session.Constable Audiovisual could decide on a formal channels of information. "It's a yellow card. But if they start, then the CSA will release a red card and take sanctions "warns Christine Kelly, a member of the CSA.

However, the CSA notes that most other television and radio all have fully complied with the instructions. On the side of France Televisions, which also broadcast the primaries in two news magazines, the balance was followed. Information for newspapers, counters ended September 30 show that the parliamentary opposition bloc has 51% of speaking time points Thierry Thuillier, the Director of Information of France Televisions.The new review period from 1 October to 31 December, France Televisions ensure balance time for the presidential majority, including calling Francois Fillon to 20 hours of JT France 2 tonight.

For news magazines, France Televisions has until Dec. 31 to offset the 4:45 discussion devoted to the primaries. Already Alain Juppe had been invited for two hours in the program "The words and actions" on September 30. Tonight, the program "Crossword" lasting 80 minutes will receive a majority of three personalities: Lionel Luca, Chantal Jouanno and Herve Morin. Finally, France Television is negotiating for an intervention of Nicolas Sarkozy on October 24.In this case, if the head of state talking about the crisis of the euro or Greek debt, his time is not counted, however if he talks about domestic policy, then the speaking time will be taken into account.

A sequence at high risk for economic diplomacy opened on Friday in Paris with a G20 Finance Ministers, which ends in mid-afternoon today. The summit precedes the meeting of European heads of state, October 23 in Brussels, to enable Europe to get united at the top twenty richest countries in the world, at Cannes, 3 and 4 November. The road is marked. But after the race progress is uncertain. The subjects of accumulated tensions between developed countries, amid Sino-US tensions around the issue of exchange rates.

Aware of the pitfalls, Paris, who chairs the G20 seeks to avoid the reasons for tension. First objective: to show that Europe is determined to solve the crisis of its debt, which raises concerns around the world.To do this, nothing better than to show the strength of the Franco-German couple at a luncheon on Friday at the Elysee, bringing together around the president, the French finance minister and Baroin his German counterpart Wolfgang Schäuble.

"We have made good progress on the path to find how to package a comprehensive and lasting agreement," said the French way out. For Baroin, progress has been made "on the joint bank recapitalization," he may say no more.According to European sources cited by Bloomberg, the euro area is working on the assumption of a default of 50% of Greek debt and would have identified seven options to boost the European Financial Stability Fund (EFSF), from the processing bank the simple assurance of securities issued by the countries most vulnerable.

Individual Solutions

Paradoxically, this sacred union between France and Germany is no longer visible in the markets guaranteed high risk personal loans. Yesterday, the spread between ten-year French and German was 93 basis points, to the detriment of the former. Never since the creation of the euro area, France has borrowed as much from Germany even though the absolute rates at ten years French remain historically low.In the eyes of financial markets, it shows the weakness of leeway in Paris, to boost the EFSF or possibly refinance its banks.

The other cause of tension that the French Presidency is to avoid global order. At their working dinner last night, finance ministers from the G20 should discuss ways "to ensure global growth strong, sustainable and balanced", as agreed for three years. But unlike previous summits, where everyone was asked to revive its economy, the solutions will be this time individual. "At Cannes, each country will come with two or three steps to support its economy depend on the fiscal space of each other," says Bercy. What display a facade of unity.

However, the Twenty will not avoid the reasons for tension.The heaviest between China to the United States, since the passage by Congress in Washington, a bill denouncing the undervaluation of the yuan. The newest arrived yesterday: the emerging propose strengthening of $ 350 billion financial capacity of the IMF for help, among other things, to finance Europe. A proposal that has received a plea of ​​receiving U.S. Treasury Secretary Timothy Geithner, for whom the IMF has "largely sufficient resources to deal with the crisis."

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"Europeans and concerns of the world at the G20

The trend remains bullish on Wednesday at the New York Stock Exchange. The Dow Jones opened up 0.42% to 11.4460 points and the Nasdaq 0.80% to 2603 points. Like the European markets, Wall Street resists not the Slovak Parliament on strengthening the European Financial Stability Fund (EFSF). Tuesday, after four sessions of strong gains in a row, Wall Street ended in a disorganized. Investors chose to garner a share of profits.

On the front of the debt crisis in the eurozone, the European Commission President Jose Manuel Barroso presented this afternoon at the European Parliament its proposals to support the banking sector. It should be "emergency" recapitalize the banks, he said.He also called for increasing the EFSF and accelerate the replacement of it by a permanent, mid-2012 instead of mid-2013.

In Slovakia, a second vote could be held Friday with the support of the left opposition. "It's not good news but I trust the authorities of Slovakia to hold a second vote," said Wednesday morning the French Minister of Foreign Affairs Alain Juppé on radio France Info. For its part German Chancellor Angela Merkel said that strengthening the EFSF be ratified "in October." The Slovak Parliament was the last to vote on the strengthening of the European relief fund.Indeed, the unanimity of the country is essential to confirm the agreement reached by the Heads of State on July 21.

Berlin and Paris commitments marchésLes reassure the weekend by Germany and France had restored some hope to the financial markets. Last Sunday, Nicolas Sarkozy and Angela Merkel have in fact committed to respond "lasting and comprehensive peace" to the crisis in the euro area for the G20 summit in Cannes, 3 and 4 November. About the difficulties of the European banking sector, the two leaders said they were "determined to do whatever it takes to ensure the recapitalization of our banks." But again, the "details" to be specified later, and the EU summit scheduled for October 17 and 18 was postponed to October 23.After several missed appointments with the financial markets, Europe hopes this time strike a blow to stop the contagion of the crisis in the euro area.

The euro will always be a "hard currency", has also assured Angela Merkel, following Slovakia's rejection of strengthening financial relief funds in the euro area. On the foreign exchange market, the euro was virtually unchanged munching 0.05% against the greenback at 1.3658 dollars.

Alcoa opens the ball quarterly results

In the U.S., the season of quarterly results of large companies began Tuesday after the close of Wall Street. As usual, the aluminum giant Alcoa kicked-off for these publications. Including follow on Wednesday, PepsiCo, and Thursday, JPMorgan Chase and Google internet group and finally, Friday, Mattel.Analysts bet on an average increase of 13% earnings per share for the third quarter.

The group Alcoa (-3.25% to 9.97 dollars) reported, after market, a net quarterly profit of $ 172 million, an increase of 182% over a year and a decrease of 47% the previous quarter. Revenues jumped 21% year on year to 6.4 billion. In 2011, Alcoa still expects growth of 12%.

For his part Infosys Technologies (6.57% to 56.12 dollars) also announced after the market have achieved in the second quarter of fiscal 2011 to 2012 (ended September 30) with net income of $ 411 million, against 374 million last year while sales rose to 1.75 billion dollars against 1.5 billion a year earlier.For the full fiscal year 2011/12, the group expects a turnover of 7.08 to 7.2 billion dollars.

The Canadian Research In Motion (-2.34% to 23.84 dollars) a Wall Street side, affected by major failures affecting the Blackberry, is facing a revolt by disgruntled shareholders calling for the sale or replacement of its leaders then that its action has already lost 60% since the beginning of the year.

For its part the world leader in lithography for semiconductor, ASML (5.14% to 38.03 dollars), also listed on Wall Street believes that there will be a slowdown in growth in most segments semiconductors, with the exception of technologies related to tablets and smartphones.

The battle of mergers is relaunched in the mid-markets. The London Metal Exchange (LME), the first metal market in the world, 134 years old, is about to be redeemed. According to a source familiar with the matter, the buyers would be the Singapore Exchange (SGX) associated with the London Stock Exchange (LSE). Both players could make an offer to one billion pounds (1.15 billion euros).

The negotiations around the LME were made official last week by its owners, trading houses and banks market users. They admitted that it was highly coveted. Without the name, the CEO of the LME, Martin Abbott, said yesterday that a dozen candidates had appeared.Analysts believe that among them are the American Stock Exchange or ICE that of Hong Kong.

Operation diversification

If the LSE and SGX are able to stand, the operation will allow them to diversify into the sector buoyant metals brokerage. The London Stock Exchange represents 80% of volumes on world markets of the future of metals and recorded a record 120 million packages last year, 2 payday loans.8 billion tonnes of metal. In value terms, this represents 11,600 billion (about 8.56784 trillion euros).

This acquisition will also provide them the opportunity to recover from failures of failed attempts to merge internationally very competitive market of securities and derivatives.To recap, the LSE had to abandon its bid on the Toronto Stock Exchange on behalf of a syndicate of Canadian banks, while the takeover of SGX on the Sydney Stock Exchange (ASX) was rejected by the Australian Government five months ago.

Any bid will nevertheless be accepted by 75% of its shareholders, which include Goldman Sachs, JP Morgan and trading companies.

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"Touch of conflicts of interest on the LME

"The battle rages between the exchanges

Nicolas Sarkozy could not miss the start of construction of the first TGV in Africa and the Arab world. Especially if a French company, Alstom, in this case is at work. The French president will then visit a few hours to Tangier on Thursday to give the start of construction of the train Tangier-Rabat-Casablanca.

After a ceremony at the station in Tangier, Nicolas Sarkozy will hold talks with King Mohammed VI at the Palais Marshan, during a face-to-head followed by a working lunch. Then he will speak to the press at 17:15 Paris time.

One site to 3 billion

Four years after the announcement, the work can begin. This project should permit the entry into service in 2015 a train up to 320 km / h linking Tangier to Casablanca and reducing by more than half the travel time between the two cities, which will go from 4:45 to 2:10.

Its cost is estimated at 33 billion dirhams by the Moroccan government (3 billion euros) and will be partly financed by loans to prime French, Moroccan funds from Gulf countries and the Arab Fund for Economic Development and social. The European Investment Bank (EIB) was, she refused a competition of 400 million euros, which complicated the closure of the project.

Moroccan media while Germany suspected of having deposited its veto against the funding because of the choice of the Moroccan government to favor the French Alstom in its German competitor Siemens business card.The French group, which had previously exported its expertise in high-speed train in South Korea, Spain and Italy to Morocco will provide 14 trains of eight cars, for $ 400 million euros.

Economic projects

While the French government scans the remark, some commentators believe that the choice of Alstom was used to compensate the loss by France of a contract to supply fighter jets to the Moroccan Air Force, who had to prefer the F16 U.S. Rafale from Dassault Aviation.

This episode now seems forgotten. Nicolas Sarkozy, focused on investment opportunities represented by Morocco, has chosen to take with him two ministers, Eric Besson for Industry and Thierry Mariani for Transport and Secretary of State for Foreign Trade Pierre Lellouche.

The Hexagon is the first partner of the Sharifi kingdom, providing 15% of imports from a country with an average growth of 4.5% to 5% for ten years, accounting for 21.5% of its exports, and employing 100,000 Moroccans in its 750 subsidiaries. Other large projects include the creation time of a Renault factory "zero pollution" with Veolia Environment, which should become operational in early 2012 or Tanger-Med, a huge industrial center and port that participates in a Bouygues consortium.

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"Alstom wants to strengthen Turkey

"Alstom rail agreement in size with China

The U.S. stock markets, continue to fall on Friday. The Dow Jones was down 0.55% at 10,680 points and the Nasdaq 100 lost 0.06% in 2454 symbolically points. The markets are still haunted by the fear of a recession in the U.S. and the crisis of public debts. Wall Street tumbled Thursday was at the end. The Dow Jones ends with a fall of more than 3%.

In an attempt to stop the stock market crash, the finance ministers and central bankers of the twenty leading economies gathered in Washington last Thursday pledged to provide "a strong and coordinated international response" to the crisis at a meeting in Washington. In a joint statement, they agreed to ensure that "banks have adequate capital" and promised to provide "the necessary liquidity" to financial institutions.But for specialists Aurel BGC, "the real decisions are referred to the Summit of Heads of State and Government to be held in Cannes, 3 and 4 November."

The Perfect Storm, the large emerging group of "Bric" were "determined to accelerate structural reforms to sustain strong growth." Brazil, Russia, India and China but also South Africa so consider "if necessary, to provide support through the IMF or other international financial institutions, to address the current challenges facing the global financial stability, according to the circumstances of each country. "The inventor of the BRIC, Jim O'Neill, chairman of Goldman Sachs Asset Management, said however that emerging markets are likely to require at least, in exchange for their support, greater clarity on how the Europe has to solve its crisis.

Gloomy outlook for world trade

In response to a request by the G20 in September addressed to Nicolas Sarkozy, the countries of the euro area have also promised to implement "necessary measures to increase the flexibility of the European Financial Stability Fund (EFSF)" to avoid contagion from the crisis in Greece. Yesterday, the possibility of a defect in Athens, though long ruled by EU leaders, was raised by Klaas Knot, Member of the Board of Governors of the European Central Bank (ECB)."This is one of the scenarios," he told the Dutch newspaper Het Financieele Dagblad.

The specter of a global recession has suddenly resurfaced after the ads pessimistic U.S. Federal Reserve (Fed), which held that the U.S. economic recovery was "slow" and threatened by "high risk". Wednesday she has decided to sell by the end of June 2012 for $ 400 billion of treasury bills and to purchase for the same amount with a longer maturity.But the fact that it favors measures to monetary easing, a depressed market on Thursday, who sees as a sign of impotence.

New signs of abating, the World Trade Organization (WTO) revised downwards its forecast for this Friday trade growth for 2011, expecting growth of world trade by 5.8% against 6.5% forecast so far, according to its website.

On the foreign exchange market, the euro climbed slightly against the U.S. dollar: it rose on Friday by 0.57% to 1.3533 dollar. Oil prices also went up.A barrel of "light sweet crude" for delivery in November, which had tumbled more than $ 5 the day before returning 1% by mid-morning at 81.31 dollars.

The side of values, after the close of the NYSE YorkHewlett-Packard announced the replacement of Leo Apotheker as CEO from Meg Whitman, confirming the many rumors that had circulated in recent days.

At Advanced Micro Devices (AMD) is Rick Bergman Devices, responsible for products, who announced his resignation. The CEO will temporarily Rory Read office.

Covidien raised its quarterly dividend 12.5% ​​to 0.225 dollar per share.And, for its part McDonald's has increased its 15% to $ 0.7 per share.

In order to treat its shareholders well, Raytheon has authorized a stock repurchase plan of $ 2 billion.

The American manufacturer of sporting Nike has exceeded market expectations by posting yesterday after the close of U.S. markets net income for the first quarter of fiscal year up 15% to $ 645 million, driven by its Sales in North America and in emerging countries. Revenues rose 11% to $ 6.1 billion.Orders scheduled for delivery between September 2011 and January 2012 were up 16% to $ 8.5 billion.

On the occasion of a major overhaul of its website, Facebooks'est services associated with music, news and video, including Spotify, Deezer and Dailymotion, and challenge from Apple in the content.

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"FILE – Crisis: Fear of debt

Pascal de Izaguirre, the new head of Nouvelles Frontieres, warned this summer that is socially necessary to revive the group, losing ground. Reportedly, the plan would cover about 400 positions. It should start in early 2012 and early departures would occur next summer.

On Thursday, during an extraordinary works council, which lasted all day, Pascal de Izaguirre had planned to give details of the plan. He did not last. "The topic of the day was the proposed merger and any socially impossible before, says Le Figaro Jorge Partida, secretary of the EC and member of the FOR trade union, a majority. Pascal de Izaguirre wanted to give a figure for job cuts. At our request, he did not mention it.It was not on the agenda, we told him to observe the melting process. "

The plan is part of a drastic turnaround strategy Nouvelles Frontieres, which should acknowledge this year the heaviest operating loss in its history. To restore the finances of the company, Pascal de Izaguirre upsets ever habits by bringing together under one roof all brands (New Frontiers, Marmara, Tourinter and adventurer), without removing either. By doing this, this former Air France, arrived first at the head of Corsairfly before returning in May orders for the whole group, wants to end the spirit of competition that may exist between Marmara and New Frontiers, and save money.

'Strategic mistakes

The new entity will be called TUI Travel France and centered around a renewed organization, lighter and cross."The project" Convergence "is by no means a project of standardization or standardization of offerings," insists Pascal de Izaguirre.

By grouping the teams, Pascal de Izaguirre wants to impose more rigorous management, and revive the "spirit of conquest", which had the reputation of New Frontiers. "This plan is the fourth since the early 2000s and the takeover by the German group Preussag, held at the time by Jacques Maillot, said Jean Serrat, a former captain in Corsairfly and former secretary of the EC until 2006. The previous plans were not enough to boost sales momentum because there were strategic errors (in the diversification of products, distribution …). For the first time, brings together teams of Marmara and New Frontiers.This is finally going in the direction of a cost rationalization was inevitable. "

Pascal de Izaguirre wants to go fast. The implementation of the new operational structure of the company is scheduled for early 2012. He has no choice. In recent years, New Frontiers has lost market share that will be difficult to regain. Increasingly, too, is necessary in Internet travel sales, with the arrival of new competitors, starting with Google, which promises to shake up the industry with a brand new search engine for airline tickets.

Also new, the consumer, always on the lookout for bargains, it also has a growing tendency to move from one tour operator.

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The transport budget should lighten motorists this week. While the oil price was down since the beginning of August because of fears for global growth, the Minister Eric Besson industry asked Wednesday to distribution professionals to pass on this trend prices at the pump before the weekend of August 15, traditionally busy on the road. "The French will benefit from several cents lower per liter," ruled the Minister in a statement.

Concerns about debt deemed excessive in the euro area and especially the deterioration of the U.S. debt rating by the rating agency Standard & Poor's have indeed been falling sharply since oil prices last week. Wednesday, a barrel of Brent North Sea still traded at around $ 105 a barrel."Oil has fallen by about $ 10 a barrel for about eight days, conceded earlier this week Jean-Louis Schilansky, president of the French Union of Petroleum Industries (Ufip). Under these conditions, unless crude goes up, there are four to five cents a liter, which is expected to decline "

The magnitude and the time needed to complete the impact of this decline, however, are subject to different interpretations. While Ufip evokes a fall in prices "gradually over the next ten to twelve days," the general delegate of the Union of independent petroleum importers, which includes stations such as Carrefour, Auchan and Casino, for its expected "down from 10 to 15 cents" for these stations retail, "before the end of the week."

The price of a liter of diesel, the fuel most consumed medium currency is 1.335 euros per liter last week, according to the Ministry of Sustainable Development, 1.337 against the euro last week of July.