World and National News

Saturday, the first game of the France team for the seventh Rugby World Cup, could look like a formality. While Japan, which will meet that day the XV of France in North Harbour in New Zealand, has never exceeded the group stage, despite participation in all editions since the inception of the cup in 1987. With a stern face cashed 145-17 New Zealand All Blacks in 1995, he holds the sad record of even one of the toughest defeats in the World Cup. Japanese rugby relegated to the background of world rugby would, however simplistic. "The opposition is not the best, but it's a team that is progressing," said Pierre Rabadan, third line of the French stage.

A league of companies

Advanced beyond the sports of "cherry blossom", the nickname of the national team, the country of the Rising Sun has mainly a very special championship, which does not leave indifferent rugby players from Europe, sort of Nations (New Zealand, Australia, South Africa), and the Pacific Islands (Samoa, Fiji, Tonga). Third national sport, and this for over 100 years in the archipelago, the discipline has developed to organized a national championship, the Top League. With a special feature: the clubs come from the companies.

"These clubs are like works councils in Europe, shows Miguel Fernandez, agent of several French players. The rugby players are employees of the multinational corporations, which finance between 85 and 90% of the teams. " Hence the original names of clubs such as Coca-Cola West Red Sparks, Toshiba Brave Lupus and Yamaha Jubilo.Toyota even has two teams playing in the Top League (14 teams), the elite rugby in Japan.

Consequently, this "championship companies" gives more flexibility for clubs to recruit players from outside, when the National Rugby League wage bill caps the French clubs to 8.7 million. For the time being, no French player in the league evolves Japanese, but many of the major European leagues rugby and South Pacific have been tempted. Most recently, the former third line of the French stage, James Haskell, free from any contract with the club from the capital, announced that it would conduct a season with the Ricoh Black Rams Japanese before starting a new lease in 2012 with Wasps English payday lenders. In his previous contract in Paris, the player's annual salary was estimated at 300,000 euros.Likely that his Japanese club for a season or at least aligned with that level or beyond.

Players of the hemisphere are the most numerous

For a star player in the Top 14 French, whose gross annual salary up to 400,000 euros, the Japanese archipelago can also represent an attractive option at retirement. Around the world rugby, the phenomenon is growing: in 2008, two members of the hinge legendary Australian wallabies, Stephen Larkham and George Gregan signed in Japan. The first, to 34, with the Ricoh Black Rams, and the second 35 years with Suntory Goliath.

The choice of the country of the Rising Sun did not, however, only by default. "On average, Japanese wages are 20 to 30% higher than those in Europe, explains Miguel Fernandez, where the French Top 14 offers a gross average monthly gross earnings between 10,000 and 12,000 euros."Examples of multiply exile for five or six years. Twice in the middle of his career, Troy Flavell of New Zealand, currently operating Bayonne, selected the Top League (Toyota Club between 2004 and 2006 and Mitsubishi Dynaboars between 2008 and 2010).

Even the coaches are getting into, as the country "looking for experienced technicians to increase his level of play," said Miguel Fernandez. Jean-Pierre Elissalde, a former French scrum-half, led for a year the selection of Japan. For his part, Christian Gajan, current director of the Bayonne rugby took over in the mid 2000's Coca Cola West Red Sparks. Finally, and since 2006, the current XV of Japan is under the leadership of the All-Blacks legend John Kirwan.

Still, the financial firepower of a club is sometimes not enough to convince European players into exile at the end of the world.Therefore, the countries most represented in the Top League are those of the southern hemisphere, for reasons obvious geographical proximity. In the national party in New Zealand, they are even a dozen players from New Zealand, Samoa, Fiji or Tonga to defend the Japanese colors.

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• oil wells in a state "in the coming days"

Oil may be back soon in Libya. The country should rehabilitate wells "in the coming days," announced the new oil minister, Ali Tarhouni, at a press conference in Tripoli. "The situation will not return immediately to normal, but almost," he added.

In Geneva, the World Food Programme (WFP) has launched a tender to supply 250,000 tons of gasoline provisional Libyan authorities to deal with the most urgent needs of the population after six months of civil war .

• Libya buys French wheat with frozen assets

The interim government in power in Libya has signed two contracts for the purchase of French wheat with assets released this month by France, according to sources close to the negotiations.The French Ministry of Foreign Affairs French announced in early August its intention to release $ 259 million to make available to the National Transition Council to rebuild the country after six months of civil war.

Each contract weighs at least 22 million to about 60,000 tonnes of wheat, a senior leader of the French grain trader Bellows, who signed one of the two contracts.

• A four-day ultimatum issued to supporters of Gaddafi

The rebel leader Libyan Tuesday sent an ultimatum expires Saturday supporters of Muammar Gaddafi in the last strongholds of the regime that they surrender, otherwise they would face military operations.

The head of the National Transitional Council (CNT), Abdeljalil Moustapha said that negotiations were underway with officials of those cities to try to secure their surrender without a fight. "This window of opportunity will expire at the end of the Eid al-Fitr. From Saturday, if a peaceful outcome is still not to the field, we can make a difference militarily, "said Abdeljalil. The launch of the final battle in Libya is "imminent", said the military spokesman of the rebellion Bani Omar Ahmed Benghazi in the east.

• Quiet on the front of Sirte, NATO continues its mission

The situation was calm on Tuesday morning on the front east of Sirte, Gaddafi's stronghold in central Libya. The rebels have increased by about ten kilometers and are line was about 40 km west of Ben Jawad beyond the hamlet of UMR Gandil.

Sirte Sunday has been caught between rebel forces, backed by NATO air strikes. The Atlantic alliance has reiterated its support Tuesday morning the insurgents, saying that his mission would continue "as long as the threat persists."

"Papyrus" is the codename of the daily horse that will launch in late September Geny News, a subsidiary of PMU. Goal: be ready for the Prix de l'Arc de Triomphe in early October. And address the monopoly Turf Group, publisher of the leader, Paris Turf (56,500 copies a day), and all other paid dailies of punters: Paris Racing, Tierce Magazine, Weekend and Bilto. With a selling price aggressive, around one euro, 1.60 euro against Paris Turf.

The PMU is alone at the helm of this project since Serendipity, a fund owned by Bouygues and Artemis (Pinault), which sold its 50% interest in Infos Geny, and wishing to withdraw from paris sportifs low fee cash advance. Geny Info already provides information via its website geny.com horse.TV operator with its chain Equidia, PMU, an economic interest group that finances France Galop (racing gallop) and the French horse (racetracks and trotting), will therefore become indirectly newspaper publisher.

The financial strength seems clear on the business side rather than states. Illustration of the disastrous state of American finances, the new number one smartphone, Apple has nearly $ 76 billion in cash and U.S. 73 billion. This represents what the world's largest economy may still spend before reaching the limit of the debt secured by the U.S. Congress (14.294 billion U.S. dollars).

Apple has just completed a record quarter with increases of 125% in profit and 82% of its revenues.With a market capitalization of $ 362 billion, the group "at the apple" appears as the second wealthiest company in the world stock market behind Exxon Mobil and its 395 billion market capitalization.

While Republicans and Democrats are torn in several weeks on the issue of debt, U.S. companies their bets. "One reason why companies put so much money aside is that they want to shelter financially cope with financial uncertainties in the U.S.," said Laurie Simon Hodrick, professor at Columbia University . He added: "As long as the threat of default by the U.S. government continues, U.S. companies will have to pay any interest that way." The war chest of U.S. companies is estimated at 1.2 trillion dollars.

The CAC 40 has taken a few colors on Tuesday after his fall the previous day. The benchmark index in Paris closed with a gain of 1.21% but stumbling on the threshold of 3700 points to 3694.95 points. Monday he fell Monday to its lowest level this year with a closing down 2.04%. Same movement elsewhere in Europe: in London the FTSE-100 of the main values ​​gained 0.65% to 5789.99 points. For its part, the DAX index of the Frankfurt Stock Exchange climbed 1.11% to 7192.67 points.

Caution remains in order. Investors have not been convinced by the results of stress tests in Europe. They are now waiting for the meeting of Heads of States of the euro zone on Thursday to take stock of sovereign debt problems plaguing Europe. Greece and its possible non-payment should animate all discussions.This morning, Ewald Nowotny, a member of the Governing Council of the ECB, explained that some of the options for resolving the debt crisis involve a brief Greek "selective default" without serious adverse effects.

In addition to that date European markets monitor the evolution of the debate on debt in the U.S.. The Americans are unable either to agree on raising the debt ceiling of the United States, despite calls for unity of President Barack Obama. In this context, the New York Stock Exchange was also closed down yesterday.Asian markets this morning did not give either positive signs.

On Tuesday, investors watched barometer of confidence Zew, the primary measure of the expectations of German financial circles, which again dropped sharply in July, reaching -15.1 points against 9 points in June, according to the Institute of the same name. This is the lowest level since January 2009.

On the currency side, the euro is trying to take against the dollar. Around 11:00 in Paris, the single European currency was worth 1.4204 dollars against 1.4117 dollars late Monday. Oil climbs as well, investors taking advantage of prices driven down by concerns about the debt crisis in the euro area.In morning trading, a barrel of "light sweet crude" for delivery in August took 38 cents to 96.31 dollars and that of Brent North Sea crude for September delivery took 41 cents to 116.46 dollars.

As for values ​​to follow

Purchases cheaply in the banking sector

The banks of the colors found on Tuesday. Investors benefit from the fall of the last day to make purchases with it.Societe Generale (4.39% to 34.24 euros), BNP Paribas (2.91% to 44.90 euros), Credit Agricole (3.11% to 8.42 euros), Natixis (3.31 % to 3.08 euros) and Axa (1.98% to 13.14 euros) are in green.

The Financial Stability Board (FSB) will propose a capital surcharge from 1% to 2.5% for systemic banks ("Sifi") on Monday said Mario Draghi, the chairman of the Board and Governor of the Bank of Italy at a press conference stating that only the common shares will be considered for this overload.Moreover, the euro area has confirmed consider introducing a tax on banks to help Greece.

The technology sector, buoyed by the results of IBM across the Atlantic is also formatted with Alcatel Lucent (5.85% to 3.62 euros, the largest increase CAC 40) and Cap Gemini (3.79% at 37 , 66 euros).

Ubisoft: 8.84% to 5.91 euros

Ubisoft's action is supported by purchases on the cheap after the fall of 15.27% charged the day before because of concerns about profitability. "The title took a slap yesterday why it bounces so strongly, especially as the market trend today is rather a carrier," said a stock dealer based in Paris.

Hermes: + 0.43% to 221.70 euros

The group reported a turnover of 668.4 million euros in the second quarter, up 17.9%.It said it expects a sales growth of 12% to 14% on a constant throughout the year. Its 2011 operating margin should be close to the record of 2010.

Orpéa: + 2.38% to 33.78 euros

The group said Tuesday it raised its target for 2011 sales of 20 million euros to aim now 1.23 billion euros.Turnover was 594.2 million euros in the first half of 2011.

EDF: + 0.62% to 25.99 euros

The president of A2A said it would reopen talks with his French counterpart in the EDF file the reorganization of the Italian Edison.

Edenred: + 3.18% to 21.60 euros

The group announced an increase in its issue volume in the second quarter thanks to its strength in Latin America and improve its performance in Europe, linked to early signs of stabilization of activity in Central Europe.

Air France: + 1.62% to 9.17 euros

The seven unions of hostesses and stewards of the airline announced the filing of a notice of strike from July 29 to August 1 to demand the opening of negotiations on the organization of work.

Note that the share price Anovo was suspended by NYSE Euronext at the request of the group "until further notice."

After market, Accor and Manitou publish their turnover for the second quarter. Biomerieux and Land Walls will report their results over the same period.

PSA Peugeot Citroën is not intended to be the key for electric vehicles. According to sources cited by the economic newspaper La Tribune, the automaker installed production capacity that should allow it to manufacture more than 30,000 hybrid vehicles per year. In detail, each year some 16,000 to 18,000 Peugeot and Citroen in Sochaux and Mulhouse DS5 about 15,000 Peugeot 508 will be designed to Rennes, the newspaper said.

Peugeot will launch the hybrid 3008 in October 2011 at a price of 35,000 euros. This is the first crossover hybrid in the world using diesel. Thus, it emits less CO2 and lowers consumption of 35% compared to vehicle performance and similar performance.By nature, the mechanical solution of Peugeot inspired many of the Lexus with an internal combustion engine driving the front wheels and an auxiliary electric motor provided with its environment, Bosch (50 kg) and acting this time on rear wheels. Sanyo battery pack Ni-MH High Voltage (50 kg) is placed below the trunk decreased from 435 to 362 dm3.

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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The days are not alike at the Paris Bourse. In the wake of a rise of 1.63%, amid relief on the Greek case, the CAC 40 has canceled much of its gains on Tuesday. The Paris stock index was down 1.05% at 3964.81 points.

U.S.: Manufacturing activity slowed and job creation disappointing

Investors were disappointed by the indicators on employment and growth in the United States.The employment figures in the private sector show an increase of only 38,000 in May, according to the firm ADP, while analysts were betting on 170,000 net hires.

Construction spending rose 0.4% in the U.S. in April, according to a Commerce Department estimate released Wednesday in Washington, and contrary to that of analysts who had forecast a decline of this indicator.

Manufacturing activity has slowed markedly in the United States in May, according to the index of purchasing managers released Wednesday by the industry trade association and ISM fell to 53.5%.

The industrial sector in the euro area slows

In France, the unemployment rate fell slightly in the first quarter of 2011, to 9.2% of the workforce in France (9.7% overseas departments included), down 0.1 points compared revised figure for the fourth quarter of 2010, INSEE announced Wednesday.

Moreover, the PMI industry is back to 54.9 after 57.5 in April. The growth in output and new orders fell in May to their lowest levels since seven and ten months, says Mark.

In Germany, the final manufacturing PMI rose to 57.7 in May against 58.2 in the flash estimate and 62.0 in April, its lowest level since October 2010. The price index of inputs had also its biggest drop since November 2008, to 70.5 in May (71.2 in flash estimate), after 80.3 in April.

Overall, the signs of decline observed in industrial production in the peripheral countries of the eurozone weighed on its manufacturing growth in May, show the final results of the survey Markit.The Markit PMI manufacturing index for the euro area stood at 54.6 in May, after a flash estimate of 54.8, against 58.0 in the month of April, its lowest level since October.

As for currencies, the euro still progressing against the greenback on Wednesday, but remained confined in 1.4450 dollar. Late afternoon in Paris, the European single currency was worth 1.4445 dollars against 1.4397 dollars late Tuesday. For his part, a barrel of oil lost 0.76% to 101.92 dollars.

Operators abused

Axa: 1.45% to 15.05 euros

The group, which has detailed a plan Wednesday to strategic investors, will sell its Canadian subsidiary to Intact Financial.

Peugeot: -0.83% to 29.16 euros, Renault: -0.84% ​​to 39.09 euros

Registrations of new cars rose 6.2% in MayRenault saw its registrations tumbled 18.2% as reported, while PSA Peugeot Citroen, for its part, showed an increase in registrations of +12.5% ​​compared to May 2010.

Schneider Electric: -1.22% to 113.20 euros

The group announced Wednesday a takeover bid of $ 2 billion (1.4 billion euros) to Telvent, a specialist in systems for managing energy infrastructure, water and transport.

France Telecom: -1.51% to 15.66 euros, Bouygues: -0.95% to 31.79 euros, Vivendi: -0.59% to 19.28 euros

The mobile phone is possibly carcinogenic but no formal proof establishes the link between mobile use and brain tumors, cancer specialists have said Tuesday the World Health Organization (WHO).

Arkema: -2.23% to 74.47 euros

The group will enter the CAC Next 20, the antechamber of the CAC 40, and CNP Assurances will be withdrawn with effect from 20 June, the Council decided on scientific evidence of NYSE Euronext Paris. In a statement, Arkema said that NYSE Euronext enters the CAC 60 and the Large NOC is withdrawn. The reverse operation is performed for the CAC Mid 60.

Neopost: -1.72% to 61.15 euros

The group announced an increase in its turnover in the first quarter despite difficult conditions in Europe and confirmed its targets for 2011.

Theolia: 6.11% to 1.39 euros

The group announced Wednesday it had signed an MoU with the National Electricity Morocco (ONE) to develop and implement an entire fleet of 300 megawatts (MW) in Tetouan near Tangier.

Lagardère: +0.11% at 28.41 euros

The group has completed the bulk of the sale of its international magazine to Hearst, which should have a negative impact of EUR 35 million on operating profit of Lagardere Media for 2011. These disposals will impact is the objective announced in March a growth of around 10% of its 2011 operating profit at constant exchange media, which included the magazine internationally.

Neopost: -1.72% to 61.15 euros

The group announced an increase in its turnover in the first quarter despite difficult conditions in Europe and confirmed its targets for 2011.

Belvedere: -1.72% to 61.30 euros

The CEO challenge the fines against him required by the representative of the college's Financial Markets Authority (AMF).

No more steroids for French consumption! With the end of the scrapping, household spending fell 1.8% in volume, after falling 1% in March, according to figures released Tuesday by the INSEE. Only the food consumption and "other manufactured goods" rose over the month, respectively +0.8% and +0.2%.

"It was difficult indeed to hope that consumption could continue to climb even though inflation is now growing faster than household incomes. In other words, the purchasing power probably will fit down in the second quarter, "said Alexander Law, chief economist at the firm Xerfi.

The decline in consumption is largely explained by the sharp decline in automobile purchases, who drop by 10.2% over the month, after falling 2.1% in March.No doubt for INSEE, this is the "repercussions of the abolition of the scrapping on 1 January 2011". Statistics from the automotive industry in April, released in early May, already left us to expect a jolt, recording a drop of 11.2% of sales in France.

Moreover, the French fell 0.5% spending on equipment housing in April. This figure follows a 17% drop in sales of new homes in the first quarter. Households also spent less in clothing stores (-0.5% on the month).

Energy costs are on the other hand fell 3.2% in April. "The decline is mainly due to climatic conditions rather soft in April, compared to seasonal norms, which have restricted the use of heating fuels," INSEE analysis.An effect that would have cleared the explosion of the fuel budget of households fund soaring pump prices.

Notaries, tax and estate planning departments of banks are preparing for busy week. Many individuals want to make donations before the vote – scheduled for early July – the tax reform Heritage presented last week. "There is a window of opportunity for all those who want to give," says Bertrand de la Grandière at Compagnie Financière Edmond de Rothschild.

The reform removes, of course, the tax shield and landscape ISF, but also increases the taxation of gifts and estates. The allowance of 159,325 euros remains for transmission to a child, and the surviving spouse is exempt from inheritance tax. But the fees payable in case of large gifts will increase as a result of several measures.