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 .

According to the report submitted to the National Assembly, which specifies allocations for different missions, "except the Department of Justice and the Ministry of Higher Education and Research, all departments will be downsized on the years 2011-2013.

Research and Education, Justice up

The Mission Research and Higher Education remains the first priority of government, is it indicated. His credits will increase from 23.63 billion euros in 2010 to 23,830,000,000 in 2011, 24.04 billion in 2012 and 24.23 billion in 2013.In addition, the department "will be, exceptionally, no job cuts.

The Department of Justice will be the only "benefit from new jobs net (400 in 2011), mainly for the prison administration," the document said. The credits of the mission will spend 5.65 billion euros in 2010 to 5.80 in 2011, 5.96 in 2012 and 5.90 in 2013.

Labour and Employment, Agriculture, Ecology down

Side decreases, the mission and Career credits will rise slightly next year, from 11.25 to 11370000000 before "fall sharply" with "better jobs" expected, 9, 10 billion in 2013.

The Ministry of Agriculture will also see its funding decline from 4.46 billion euros in 2010 to 4,210,000,000 in 2013.In 2011, 650 jobs will be eliminated on this ministry.

The credits of the mission Ecology will also decline sharply in 2011, from 9.24 billion in 2010 to 8,820,000,000 in 2011.

The money for the ODA will, themselves, stabilized in value over the period.

As announced 16,500 job cuts are planned in 2011 in Education, under the rule of non-replacement of retiring staff of two.The credits of School will initially increase slightly, from 44.14 billion in 2010 to 44,450,000,000 in 2011, then fall to 44.05 billion in 2013 payday loan lenders.

In the three years, a rule enacted by President Nicolas Sarkozy will "not replace nearly 100,000 retirement, or 31,400 full time equivalent (FTE) and 2011, 32,800 FTEs in 2012 and 33,000 FTEs in 2013.

The downsizing effort is "higher than average" to ministries of Budget, Foreign Affairs, Agriculture, Defense, Ecology, Health and Sports.

"Operators of the state will also be involved in this process (…) with the exception of operators attached to the Ministry of Higher Education and Research," the document said.

The government amounted to "nearly 3 billion euros' savings" related to non-replacement of retiring in two "over three years. But 50% of these savings will be a "return to civil servants".

The burden of debt on the increase

The interest burden of government debt is expected to grow strongly in coming years, as spending on employee retirement, still shows the budget document.

The interest burden of debt, that is to say, the annual payment of maturities of the loans, should "increase in value by over 9% per year on average, five times more than inflation," says document.

It should increase from EUR 42.45 billion in 2010 to 55,190,000,000 in 2013.This increase is explained by "the rising stock of debt since 2009, due to the crisis which has seen deficits explode, and" the expected increase in interest rates. "

The pension expenditure officials should, too, to increase from 35.06 billion in 2010 to 39,580,000,000 in 2013, "despite the beneficial impact of pension reform," the statement said. "The retirement of civil servants are currently a" very high on the period, the government said, citing also "revaluations of pensions to inflation."

The government pledged to freeze "value" the expenditure, excluding debt and pensions between 2011 and 2013.

Elsewhere in Europe, even the Footsie in London returns to equilibrium (-0.05% to 4835 points) after starting the day up 0.45%. The German Dax, which climbed 0.34% at the opening, back up 0.08% at 5839 points.

The caution at the beginning of the week, as in Asia. On Friday, the CAC 40 finished on a small increase of 0.25% after a volatile trading. All investors anxiously awaiting the monthly figures for U.S. employment, which were more troubling than expected 125,000 jobs lost in June but 83,000 in private creations against 33,000 in May, and unemployment fell to 9.5%.The U.S. markets have fallen back slightly after the announcement, but their European counterparts have remained on the upside.

The CAC 40 lost 5%, however the last five days. Investors can not follow Wall Street Monday as the U.S. stock market is closed after the national holiday. On the side indicators in France, the PMI services will be published. For the euro zone composite PMI index, and the sales details will also be announced.

The banking supervision

Dexia (0.61% to 2.81 euros) received the assumptions of Stress tests requested by the European Union on the eve of the weekend and is currently being examined, according to chief executive of French bank Belgian-Pierre Mariani.

BNP Paribas (0.70% to 44.51 euros) has sold its subsidiary of consumer credit BNP Paribas Personal Finance Belgium funds Apax Partners SA and Altamir Amboise. The sale is part of the commitments made by BNP Paribas to the European Commission following the acquisition of Fortis in Belgium in 2009.

Zodiac Aerospace (+0.48% at 37.67 euros) has agreed to buy German Sell.It is the third acquisition transaction in two months for the group led by Olivier Zarrouati.

Carrefour (1.23% to 32.53 euros) will close unprofitable stores sixteen in Belgium at the end of the month as part of the restructuring of its assets in the country, while strengthening its partnership with Mestdagh. The group expects these closures savings of about 25 million euros per year.

Air France KLM (0.64% at 9.66 euros) will face a new competitor on the field connections to Africa. The Airline Oxygen Africa should get the green light for launch in the coming weeks.

France Telecom (0.28% to 14.24 euros) must submit to the press, about 11 o'clock this morning, its strategic plan for the next five years.He wants to have more than 300 million customers worldwide by 2015 against about 200 million today, "said Stéphane Richard, CEO of telecoms group, in an interview published in Le Parisien on Monday.

Total (0.01% to 36.19 euros) does not study the acquisition of BP, but would be willing to consider the acquisition of certain assets if they were on sale, said Friday the CEO Christophe de Margerie.

PSA Peugeot Citroen (0.84% to 21.05 euros) announced it acquired for an amount of 244,925,000 euros, part of the bond issued in 2001 and maturing in September 2011. The takeover was launched June 21, 2010 simultaneously launching the bond issue of 500 million euros due five years.

Thursday came another statistical support with the recent claims of unemployment rose 13,000 to $ 472,000 in the figures as at June 26, while economists on average expected a decline to 452,000 over the figure of 457,000 originally announced. This does not suggest the best for this afternoon.

The CAC 40 displayed an increase of 0.75% within minutes of opening to 3364 points and advanced more moderately by 0.29% to 3349.73 points shortly after noon.

Note that the meeting in Paris will be exceptionally today around 41 values because of two new entities of Accor.

The trend has been better after the session on Wall Street to limit losses. At the close, the Dow Jones lost 0.42% to 9733 points, the Nasdaq was down 0.37% at 2101 points and the S & P 500 drops 0.32% to 1027 points. This has encouraged the European markets to dare a technical rebound this morning. This morning in Asia, also dominated the calm markets.

On the face values, we will therefore:

Bank stocks. The banks borrowed yesterday less cash than expected to the ECB, were reassuring.But, according to the Financial Times, a score of banks would be forced to raise capital after testing resistance. Societe Generale 33.585 to yield 0.84%, BNP Paribas 1.72% to 44.24%, Credit Agricole stabilizes.

Edenred (new name of Accor Services) made its market debut. The award technical reference of the title was set at 11.40 euros, a figure which is located in the lower range of 11-14 euro advanced Tuesday by the chairman of Accor at its general assembly and lower than its During Thursday on the gray market, which was around 12 euros depending on traders. In the first exchanges, the title earned more than 24% to 12.24 euros.

Accor is mishandled and lost 5.18% to 23.420 euros. According to Les Echos, the group is also about to give the caterer Rail Wagons-Lits to French Newrest.Moreover, according to the newspaper, the proposed IPO of Lucien Barriere, another subsidiary of Accor, will be presented to analysts on July 7.

GDF Suez (EUR 22.99 0.86%). Standard & Poor's said on Thursday lowered the outlook notes A/A1 group's "positive" to "stable", judging unlikely that the group achieves and maintains financial circumstances justifying an increase in his notes.

BNP Paribas and BPCE, the parent company of Natixis announced an alliance in consumer credit, which will require the development of a common platform operational from 1 January 2013. The BNP Paribas gained 2.09%. Natixis yield 0.41%.

Schneider (0.59% to 81.37 euros) said Thursday it was in talks with the city of Ashgabat, Turkmenistan, on the renovation of the city's power grid.The Tribune reported Friday that the group has secured this contract, the newspaper figure at 1.3 billion dollars (1 billion euros).

LVMH (+0.34% at 85.49 euros) is about to acquire a Brazilian company, the leader of the country of the online sales of perfumes and cosmetics.

Beneteau lowered from 17% to 15% of its target revenue growth for fiscal year 2009-2010 within the scope of delays in deliveries of vessels. The builder of sailboats and motorboats, however, confirmed its target of operating profit to 37.5 million for its fiscal year ending in late August. The title resists: he won 3.32% to 11.06 euros.

Reportedly, the two bids, some thirty pages each, are accurate. The trio SFA-Prisa-France Telecom plans to inject 100 million euros (10 million from a bank loan) in the group for 67% of the capital. Perdriel propose to hold 45% of the capital, against 35% and 20% for Prisa for France Telecom. Stephane Richard's group plans to inject about 40 million euro offer for the shares of Lagardere, whose 7 million for the participation of 17.27% in Le Monde and 33 million for the 34% interest in the Interactive World .This values the total equity of the group (after debt) to around 40 million euros …

Create a foundation

For its part, the trio offers Pigasse-Niel-Bergé would book the group's employees a surprise. In addition to 110 million euros available for 65% of the capital, the trio was ready to fund "the possibility of personal companies of the group to return to their blocking minority," a reliable source. Thus, Pierre Bergé undertake, if its bid is successful, to create a foundation in which he would pay ten million for the company personnel can see their share increase by 20% (at the end of recapitalization) to 33%, the blocking minority."The relevance of this investment lies in the fact that it would pay the passage of the tickets out of shareholders Lagardère and Prisa diluted by the recapitalization," says one.

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A conciliator bedside World

However, the executive says ready to developments on three issues dear to the CFDT: the situation of people who started working before age 18, taking into account the hardship and treatment of poly-pensioners (of persons covered by several pension plans) low fee payday advance. The special case of poly-pensioners had hitherto not been mentioned in the text of the reform presented Wednesday.

Nicolas Sarkozy has asked Eric Woerth offer him "at the latest before the start of parliamentary debate in September, possible developments on these topics.

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France, the ninth largest trading partner of Russia

Unlike the two previous visits of Russian leaders in the capital – in November 2009 and March 2010 – no significant agreement should be concluded. In recent months, Moscow and Paris live on their laurels: the future participation of EDF and GDF-Suez in the pipeline South Stream and Nord Stream, the cooperation of the manufacturer Safran construction project of Sukhoi Superjet 100, the Alstom entry in the capital of the manufacturer of trains, Transmashholding. No room for complacency in the face of inroads by Russian companies in Italy and especially Germany.France is the sixth investor in Russia and the ninth largest trading partner countries.

Ads should be reserved for the visit of Nicolas Sarkozy Economic Forum in Saint Petersburg, June 19, in the presence of Dmitry Medvedev: Arianespace is about to purchase Russian rockets, and Martin Bouygues person would enter the Board Skolkovo, a project of Sophia-Antipolis in Russian, which arouses the skepticism of business.

Negotiations on the Mistral

The future of bilateral economic relations is first suspended negotiations started for the purchase by the Russian navy, a helicopter carrier Mistral. Russia, which is counting on France to help modernize its economy, relies on the expertise of the hexagon.

But Paris is reluctant to give Moscow a part of the military technology of this building.It would, however, a "good deal for the French manufacturer," says Vladimir Putin. "A helicopter-carrier as it cost around 300 million euros," added the Prime Minister who wants to buy a copy and duplicating the other three shipyards in the country. The Franco-Russian friendship has its limits.

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The contract between the two companies for these operations will run until the end of 2010. Then, or more precisely from 2013, is the brand new Georges Besse II plant – currently under construction – which will take over Eurodif. With, already, a solid contractual basis between the two groups since the short period 2013-2032.However, for the years 2011 and 2012 – the last two operations Eurodif – nothing is planned.

Specifically, EDF does not extend the current contract. Besides the fact that it has stocks of enriched uranium, the electrician lights will also appeal to other providers, namely the Anglo-German-Dutch Urenco and Russian Tenex. Moreover, Georges Besse II shall work more than 40% for EDF, while qu'Eurodif provides in recent years more than 60% of uranium enriched to EDF.While Areva did not deny the right of the speaker to act as he does, "except that before initiating a long lease on Georges Bessei, there is room for both groups based on a better footing," said an industry expert.

Mediation ultimately

But most importantly, the group led by Anne Lauvergeon, the end of the partnership with EDF on Eurodif is extremely penalizing financially. Even if he is careful to communicate officially on the subject, Areva made its accounts that would be tantamount pour2011 et2012, to an operating loss of around 500 million euros. This is not the spreading of the current production of enriched uranium to provide a solution.Similarly, for Areva impossible to find one or more replacements to EDF: In a sector as sensitive as the nuclear industry partnerships are formed very early.

As for EDF, the decision to discontinue its activities with Eurodif could pose problems on the technical level. Currently, two of the four reactors at the plant near Tricastin run on behalf of the enrichment plant, which alone consumes 5% of French electricity production. In other words, the electrician will have to "evacuate" a surplus of electricity on a very consistent network still inadequate. During negotiations, Areva has raised the possibility of reducing the power Eurodif to affect more than a reactor there.

The social aspect, too, is in question. Currently, a thousand people work at the site of enrichment. EDF has made a proposal for resumption of such personnel.But there is no indication of either side, both companies refused to comment on the developments of a commercial negotiation.

Now widely aware of the "problem Eurodif, governments have not yet decided. "The teams are working on it tend to consider separately the optimum of both companies, making it difficult to find a solution," said one expert dossier. In any event, the outcome is expected before summer.

We dare not imagine that these two companies majority-controlled by the State does not end up agreeing. In the meantime, the prime minister could still be forced to intervene. A mediation ultimately still destructive in terms of image for the French nuclear industry.

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

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

"Forecasts near-real time

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

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

EADS cringe

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

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

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Asked on Monday, a spokesman for Google said that discussions with the Chinese authorities were not broken. But they seem to be at an impasse.Google, which has complied with the demands of Chinese censors in its entry into the country four years ago, agreeing to serve the political or pornographic content, wants more today affect its results. Opposite, China reminds him that its laws must be respected, otherwise to "pay the price." Any other choice would be "unfriendly and irresponsible," warned Friday the Minister of Industry and Information Technology Li Yizhong.

Uncertainty about other Google products

If Google decides to close its Chinese search engine, but the consequences should be above all symbolic. In January, Google had thus ensured that its financial results in the country were "immaterial" (600 million dollars in 2009, according to an estimate by Morgan Stanley).In this sector, it is far outstripped by Baidu, which has a market share of 58%, whose share increased by 3.2% Tuesday on rumors of departure from its competitor. "The Internet market in China will continue to grow rapidly and the impact will not be too big," assured the minister Li Yizhong.

A withdrawal could instead be casting doubts on the future of other Google products, including mobile phones Android, China being the most dynamic market in the world. The impact on freedom of expression is not clear. The approximately 400 million Internet users in the country, wishing to continue using the engine will go through the U.S. version of the site may be blocked. China carries indeed very strict filtering on Western sites most popular, such as Facebook, Twitter and YouTube, owned by Google.