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Arrived at the airport Charles de Gaulle airport, passengers will soon have the choice between the RER, bus, taxi and perhaps … the helicopter. In March 2011, the leadership of the Chamber of Commerce and Industry of Paris (CCIP) conducted a survey of leaders of member companies of the Association of users of Defence (AUDE) on their vision of what transportation . The results of the study, published on the site of the PICC last July show that the conditions for development of helicopter transportation in the Greater Paris should be improved. The French capital would become more attractive to foreign businessmen.In addition, the strengthening of the pole-Dugny Air Show, with the arrival in 2014 of the activities of Eurocopter and installation of new research and development of EADS has a ripple effect for the aerospace Ile-de-France, to create new jobs. "It is therefore necessary to provide rapid and efficient links between the international arrivals (airports) and the business districts of the Ile-de-France," the report concludes.

The CCIP has been calling for the creation of a 1997 helicopter service business districts of Greater Paris, especially the defense. But despite the promises of the Secretary of State for Transport Dominique Busserau "to ensure more balanced coverage of the Paris region by helicopter," the number of helicopter movements on the only heliport in Paris in Issy-les-Moulineaux has continued to decline.It was divided by 3 compared to 1990. And it's not finished. Barely reaching 10,000 flights per year at present, the number of trips by helicopter should be reduced to 3,000 by 2014, with only the keeping missions "public service" (EMS, military flights …).

Two new helipads in Paris?

However, the state would already floor on new sites asked. According to reports in Le Parisien, the government is studying various implantation sites for new heliports in Paris and the suburbs.It would thus be considered to implement a site near La Defense and other loops in the Seine-Nord, Gennevilliers and to Villeneuve-la-Garenne.

The project, which emanates from the Secretary of State for Transport, however, would be in total contradiction with the plans against noise, developed by the associations of environmental protection of the Ile de France and the program of sustainable development as mayor of Paris. Companies located in Defence do not support this idea, but do not criticize. "Our staff moves only by car, and it is not planned to spend on travel by helicopter," says one at GDF Suez, the company that has a tower in La Defense.

A project that builds on the experience of major international cities

Although very clean, the air services to major business centers is already highly developed in New York and Tokyo.To avoid traffic jams, the helicopter is a preferred means of transport used on Wall Street, which are well under ten minutes to get from JFK and Newark airports. The island of Manhattan, with four areas of raised, is averaging 37,000 helicopter movements per year.

In recent years, the city of Tokyo began to lose its appeal because of the distances are too long between Narita Airport and the business center of the Japanese capital. Many companies then decided to move their Asian subsidiaries to Hong Kong and Singapore. To facilitate travel between the airport and central Tokyo, the prefecture of the city has decided to introduce in 2009 a service of air service.The routes of some twenty minutes, supported by Mori Building City Air Services, a subsidiary of a real estate group Mori Building were so charged up to 500,000 yen (about 4580 euros) by helicopter, for 4 passengers.

But the country that exceeds all records for the business aviation market is Brazil. The country has seen its traffic increase of private planes and helicopters from 30% in one year. The city of Sao Paolo, has already surpassed New York and Tokyo, with 593 aircraft, flying over the metropolis daily. Helimarte society, the more important hire of helicopters in Sao Paolo, has seen its business grow by 20% in 2010. In addition to saving time, the helicopter remains in Brazil means of transport the safest for people with very high incomes. Nearly one hundred people were kidnapped while traveling by car in Sao Paolo last year.

Danone delivers on its promises. Having returned earlier this year with its level of growth before the crisis, the world leader in fresh dairy products remains on course in the second quarter with an increase of 8.8% on a comparable basis. In the first half, its turnover reached 9.7 billion euros (+8.7%) for a net profit of 870 million euros (+3.4%). Allowing Danone to expect a growth of 6% to 8% for the whole of 2011. "All our businesses and geographies have been growing," said Franck Riboud, CEO of the group, half of turnover now comes from emerging countries, including the United States."We are on very strong growth trends, says Pierre-André Terisse, General Manager Finance, which makes us more confident than the rest of the year in a macroeconomic environment that is not simple."

The growth is particularly driven by the dynamic activity of water Danone (Evian, Volvic, Badoit …) which carries a record performance in the second quarter (+18.9%). Good weather in Western Europe and Latin America boosted sales, as well as the increase in demand related to the earthquake in Japan. And, in a general context of price increases related to inflation in the price of plastic payday advance lender.

Complex environment

The group's growth also comes from its activities in infant nutrition (+ 9.6% in the second quarter) and medical (8.7%).As for dairy products, including volume growth (-0.2%) suffered from the impact of the integration of Russian Unimilk, they benefit from the growth of its health brands (Activia, Danacol, Densia …). In Russia, its biggest market now in the side of France, Danone bets on the growing sophistication of use.

If Danone anticipate by a "major change in the trend in consumption" in the second half, the environment should remain complex. Faced with the continued volatility of raw materials, the group has already made half of its savings program of 500 million euros. Increased costs (milk powder, plastic …) is finally on the top of the range of 6% to 9% provided by the group, even though it now tends to stabilize.After price increases from 1% to 2% earlier this year, Danone does not resume using the "price leverage" in the second half if the cost of raw materials had to leave.

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The financial situation of the United States more and more worried. Parliamentary sources, an agreement on raising the ceiling of the country's debt must be found between 15 and 22 July for next time to approve a budget bill before August 2, the date beyond which the States United will not be able to repay their debt. If U.S. lawmakers do not agree to raise this ceiling, the leading world power will end up in default. The International Monetary Fund takes this risk seriously.

So, President, Barack Obama, himself, was invited to the debate and tried to restore calm between Republicans and Democrats. Not a chance. Elected officials have sharply criticized Republicans last night how Obama handles this issue."Maybe he (Obama) was taking Valium, it would calm him a bit and he finally decided to come talk to us," even launched Republican Senator Pat Roberts at a press conference. Barack Obama reiterated Wednesday that he intended to end the tax benefits granted by more affluent George Bush. The U.S. president does not want to hear about budget cuts on social programs or on investments in education, research and infrastructure. It is precisely these points that crystallize tensions.

The situation would become so heavy that the Treasury Secretary Timothy Geithner United States would consider resigning soon, according to Bloomberg financial news agency. An official from the Treasury departm said Timothy Geithner has not reached a conclusion in this regard.For the time being.

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Lefigaro.fr – In one month, the CAC 40 has canceled the gains it had recorded since the beginning of the year. What to expect in the second half?

Frederic Buzare – It is not impossible that we reliving the 2008 scenario, with high inflation combined with economic downturn and rising commodity prices (in 2008, the Cac 40 lost 42% passing from 5550 to 3217 points). However, we maintain our scenario where we are in a slowdown of mid-cycle resulting in a temporary decline in growth. European stocks have built this movement. The outlook is therefore attractive.Today, it is difficult to find an alternative to shares.

Real estate is not a more attractive investment than stocks?

The French should stop investing in real estate and to believe that the market will continue to rise. In addition, real yields on government bonds is negative. The first half was very volatile. Equity markets need time to digest all the shocks it has suffered (revolutions Arab nuclear disaster in Japan, European debt crisis) and find new solid foundation.

The gap between corporate profits that are growing and wages of individuals who retreat is not likely to deter individuals to invest in stocks?

The problem is not corporate profits but the effectiveness of economic policies implemented by states.Investors did not trust the government, the risk premium is very high. To decrease, stable and sustainable growth is essential. To do this, companies need to reinvest. They can afford given the profits they have generated low interest personal loan. Profits can be a problem if next wages are not progressing. Paradoxically, the revival of the shares will doubtless involve a redistribution of wealth and the sustainability of the recovery by the consumer's creditworthiness.

If they were to return to action, what choices investors should they operate?

Investors must choose between cyclical and defensive stocks. Defenses are cheap but do not have a positive trend in terms of benefits, and cyclical stocks have good prospects but are very expensive.In this context, we focus on emerging markets, emerged much stronger from the crisis and should continue to grow. However, we recommend caution. Actions related to raw materials sector will benefit from global demand for oil still widely supported by China. Finally, the growth stocks offer the best profile in terms of risk and return in a context of low economic activity characterized by a lack of visibility. Among the values ​​that we appreciate, I would cite as Safran and Danone Vinci and innovative companies in the growth of dividends.

What is your position on the banking sector?

We are neutral and prefer retail banks such as BNP Paribas investment banks.

Last December, you anticipated a Cac 40-4700 points by the end of 2011.Your prediction is it still relevant?

The Cac 40 is likely to have difficulty in reaching the 4700 points at the end of the year. We see still finish to 4500 points.

Pressure mounts on the management of Air France-KLM. 144 MPs of all persuasions have signed the petition launched by Bernard Carayon, UMP deputy from the Tarn, to induce Air France Airbus in favor of a mégacommande long-haul aircraft. Monday, Pierre Lellouche, the Secretary of State for Foreign Trade, has announced its intention to meet with Pierre-Henri Gourgeon, the CEO of Air France-KLM to seek "clarification" on its intentions. The meeting should take place this afternoon.

For the government, bad foreign trade figures – which widened to over 7 billion euros in April – have sounded like a severe reprimand. Particularly for companies whose shareholder is the State. Air France-KLM, it holds that "15%" of capital.But Pierre Lellouche believes that the company can "pass the buck" in a state that has "greatly helped" the group "when he had problems with Brussels." A similar approach to reprimand respondent last week to PSA Peugeot Citroen, after the revelation of its possible plans to close two factories in France. PSA is not a public company, but it has benefited from state funds during the crisis.

Strategic choice

The political pressure put on Air France is the extent of the challenge: a mégacommande – the first made jointly by Air France and KLM – a hundred long-haul aircraft. The project is described as historic by the leaders of Air France-KLM themselves: it should be in the tens of billions of dollars. The verdict of the direction the company should have to fall shortly after the general meeting in early July.Now, executives of Air France-KLM believe that the announcement will probably be delayed for several weeks, "the time that the discussions become less passionate."

Internally, the political turn taken by the back hurts. Bernard Pedamon, the pilot representative on the board of directors of Air France said he was "surprised and discontented." "These are the strategic choices that can be for an airline. It is a commitment for another twenty years to respond to economic considerations, he says. Currently, we are witnessing the return of our old demons. The days when you could bring in managers office at the head of the company or impose choices of planes is a bygone era. "

Currently, the weight of the two aircraft manufacturers in the fleet of the company tricolor is not identical.On all its long-haul aircraft, Air France totals 63 Boeing against Airbus 35. The company has indeed bought many Boeing 777-300 at a time when Airbus had no exact equivalent. However, all of its medium-haul (or 153 units) are Airbus.

The controversy of recent days is all the more surprising that for several months, officials of the fleet of Air France have expressed their intention to mix Airbus A350 and Boeing 787. "The case studied by our teams for the purchase of these devices are not made on a corner table," says an executive of the company. "We are studying a number of criteria: the choice of engines, the maintenance cost, the impact on our maintenance activity …" considerations rather distant from the campaign themes.

Measures deemed insufficient. Farmers are almost unanimous in the result of measures announced by the Head of State yesterday in the Charente, including the provision of advances on compensation, exemptions from social contributions and deferred debt.

The President of the Republic "leaves farmers in their thirst," said a statement from Rural Coordination. "The agonizing question of farmers, as how to buy the additional food needed to feed a proper straw-based (for livestock), does not seem to touch the mind of Nicolas Sarkozy," regrets the union. Rural Coordination also reiterated his request for "make available the farmers two million tonnes of cereals in 2011 is intended to produce biofuel."

Another minority union, the Confederation Paysanne, made the same request, and indicates in its brief statement that the announcements made by the president are "insufficient". The union is also seeking the postponement of one year of all maturities of borrowings (2011 paid in 2012 and 2012 paid in 2013) and "zero-interest loans offered by all banks to farmers to aid payments Common Agricultural Policy (CAP) October 15, 2011.

FNSEA satisfied, but relativized

FNSEA, the main farmers' union, is the only one to be satisfied with the measures announced by Nicolas Sarkozy yesterday, saying that the Head of State "became aware of the situation" of farmers and its urgency. Its president, Xavier Beulin, welcomed the "emergency response" proposed.He also welcomed the establishment of a five-year plan to create water reservoirs and reduced volumes of water used by agriculture.

However, the president of the FNSEA expects the figures for the consequences of drought, which should be known in early September. He estimates it will then probably look at more structural measures, and direct payments to certain farms.

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Unsurprisingly, Georges Tron, accused of sexual assault by two former employees, resigned Sunday as Secretary of State for Public Service, announced earlier this afternoon in a statement the Prime Minister François Fillon who said "take note" of this decision. According to the Elysee is Baroin, minister of Budget and Appropriate Minister Georges Tron, who resumes his duties.

This departure is not a surprise. In the morning, Le Journal du Dimanche had reported that the resignation of Secretary of State would intervene in the day. According to the weekly, the decision was taken Saturday.It is François Fillon person who would be responsible for prescribing the manner of his departure.

He defends himself in his letter of resignation

"As a private citizen, I will make a personal matter to recognize my innocence while fighting the charges of vindictive two former employees, one was fired for embezzling public funds entrusted to him and the other resigned because of conduct unbecoming, "said Georges Tron in his resignation letter that was provided Lexpress.fr.

"Anyway, the press campaign that they have caused – before any intervention of the judiciary – has received such coverage in the media, that our citizens can consider myself as guilty before my rights have been begin to be implemented: think, Mr. President of the Republic, I have not even informed me that the complaint is, the procedure does not provide (presumably because it does not the public trial that I did), "said the now former Secretary of State for Public Service.

Alain Juppe pushes him towards the exit

In the columns of Le Parisien on Saturday, Georges Tron still seemed to want to believe. "I do not want to be annoying," he noted, while ensuring they do not feel "under siege". "I am extraordinarily serene," he explained in everyday life payday advance.Saturday afternoon, his lawyer indicated he would resign if the Head of State or Prime Minister asking him.

But on Sunday, the deal seemed to have changed. Alain Juppe including implicitly invited the secretary of state to resign, saying the government members must be "above reproach". "For now, he is presumed innocent," said Minister of Foreign Affairs on Canal +. "The rest is a matter of personal ethics. I have no lessons to give, but there are moments where he must learn to take responsibility themselves, "he said.

Secretary of State for Public Service is currently the target of complaints from two former employees of Municipal Common Draveil (Essonne), where he is mayor. The prosecution of Evry has given the police a preliminary investigation for sexual assault and rape.The two women have long been heard Thursday by the investigators, who have provided a list of witnesses, mostly city employees, may corroborate their versions.

A third complainant?

Sunday, JDD reveals that a third alleged victim would have emerged and should be heard in the week by investigators. He is a commissioner Draveil moved "on demand" by Georges Tron earlier this year. If we do not know yet the details of this story, a union officer told the weekly that the Secretary of State "was hard on her (the woman) for months. (…) I do not know exactly what happened between them, but I know she has lived all this very badly, "he said.

The lawyer Georges Tron, Mr. Olivier Schnerb, denounced Sunday the "media manipulation which has been subjected.""It is presented in the media as a culprit condemned already" while his two accusers' delight to show on television, "he said. "The defense of Georges Tron has not yet begun.

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Successful gamble for LinkedIn. The social network dedicated professionals has made a sensational debut on the Stock Exchange on Wall Street Thursday. From the first minutes of listing, the title flew more than 140% to almost 110 dollars. Well above the 45 dollars from his introduction. About 20 hours in Paris, the title continued its surge, climbing 131.31% to 104.11 dollars.

Prelude to this success, LinkedIn had managed to place on Wednesday of 7.84 million shares at $ 45 each, which allowed him to raise $ 352.8 million (248 million euros). Smelling potential, the group had over the day boosted its IPO price of departure.There's another week, it was within a range between 32 and 35 dollars.

According to observers, the success of this initial public offering (IPO) is even more important that the group posted mixed financial performance with net profit after minority interests of $ 3.4 million in 2010, after a loss 4 million dollars last year. Today, this surge in the value to nearly $ 9 billion.

Meanwhile Facebook

This IPO is considered the U.S. as the largest since Google's in 2004. It occurs in a context of market enthusiasm for social networks. Secondary markets, securities linked to this sector are the subject of desire.A recent placement of shares thereby enhances the Twitter micro-blogging site to 7.7 billion dollars (5.5 billion euros), twice more than the recovery underpinned by a previous fundraiser in December . Similarly, an investment fund, which plans to buy a block of 2.5 million shares to company employees, should take the valuation of Facebook up to 65 billion. The introduction of Facebook is also announced for 2012. Other highly anticipated IPOs are like Zynga or Groupon.

Meanwhile, markets are flocking to the first offer is available, namely LinkedIn. The excitement is such that many observers believe that a bubble is being formed in this sector, on how the 1990s. "You have to see what other companies will do. And also what will happen to LinkedIn. There is only one day.You could say this is the beginning of a stage, which will take place over a year or two, "cautions Bill Buhr, however, of Morningstar.

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As the crisis still weighs on the peripheral countries of the euro zone, Germany has shown a healthy insolent in the first quarter with growth of 1.5% well above expectations. Rising domestic demand, catch-up effect of the crisis and strong exports have combined to boost European locomotive. With unemployment at its lowest for twenty years, Berlin could aim for a 3% growth this year, according to economists, although the government still officially on table +2.6%.

Also supported by France, Austria and the Netherlands, the overall growth in the eurozone was 0.8% during the first three months of 2011. This represents an acceleration from the previous quarter (+0.3%), and outperformed the U.S. (+0.4%). But forgiveness is uneven across countries.Those in the periphery, already grappling with concerns about sovereign debt, still suffer from a much lower growth, Portugal even officially entering a recession.

Fiscal consolidation

This trend towards decoupling is here to stay. "In the future, we continue to expect growth to multi-speed EU," said the European Commission on Thursday, when presenting its outlook for 2012. After an increase of 1.8% last year, GDP should grow 1.6% this year and 1.8% next year in the euro area. In total, the recovery may be weaker than in previous upturns, warned Brussels totally free credit score.

Moreover, unemployment is likely to remain high (10% this year and 9.7% next year).To firm growth, Economic Affairs Commissioner Olli Rehn yesterday pleaded for "the continuation of fiscal consolidation and the implementation of structural reforms that promote job creation and improve the competitiveness of our economies."

The side of inflation, the Commission revised its forecasts upwards with a 2.6% increase expected this year and 1.8% next year in the euro area, driven by higher prices of energy. Result, "less than an intensification of the crisis in the peripheral zone and contagious effects more marked, the ECB should prepare the ground for a rate hike at its meeting of July money," said Ken Wattret at BNP Paribas.

Such tightening may accentuate the phenomenon of decoupling.As regards Greece, Brussels downgraded its forecast yesterday, with a fall in GDP of 3.5% (instead of 3%) and a deficit of 9.5% (instead of 7.4%) expected this year. Athens will not escape a new package of austerity. "It is still necessary to take further fiscal consolidation measures," Olli Rehn has warned.

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The "Woodstock of capitalism" was a little less festive than usual. The general meeting of Berkshire Hathaway in Omaha, Nebraska has certainly met this weekend nearly 40,000 shareholders still very admiring of Warren Buffett. The boss of the holding company was nonetheless forced to admit the mistakes that tarnished his reputation. Since the end of March shocking resignation of David Sokol, one of his closest collaborators and presumed successor, the legendary investor had remained silent, which many blamed him.

David Sokol is suspected of insider trading. It is the subject of an investigation by the Federal Financial Market Authority (Securities & Exchange Commission). Former senior officer of the Empire Buffett bought in January for his own 10 million shares of Lubrizol.A few days later, he recommended the acquisition of the entire company Berkshire Hathaway. A project whose announcement was then boosted that share to 28%. Gain for the portfolio of David Sokol: 3 million dollars!

In the wake of the publication of a report by a committee of the board of Berkshire Hathaway, Warren Buffett, the third richest man in the world, has overwhelmed the very same public that it covered a year of praise earlier. "He violated our rules relating to insider dealing and violated the ethical principles that I set out to our managers every two years," acknowledged the octogenarian. Criticized for not checking in which conditions had already become his deputy Lubrizol shareholder, Warren Buffett admitted: "Obviously I made a big mistake by not asking him when he bought his shares."

Click on the thumbnail to enlarge the graphic.

The mystery kept on succession

The lawyers of David Sokol, who maintain that their client had not violated any rule or law, responded by expressing their surprise: "It is alarming that we have advised Mr. Buffett to radically change the position and use transparently a tactic to scapegoat. "Buffett said in late March was indeed his deputy resigned had not violated any law.

Bombarded as tradition dictates for hours about all sorts of questions by fans and shareholders, Warren Buffett gave no new details about the other issue of concern to Wall Street: who will succeed him someday, as it will David Sokol not? The sage of Omaha has remained elliptical, referring to an heir "straight as a".Suspicion falls in any case mainly on the pattern of its insurance business, Ajit Jain, on which Buffett had this sentence: "I can not think of a decision he made when I should have done better than he. "

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