Now the group through a period of turbulence. Consequence of the current economic gloom, it may well issue a warning on its results in the publication of its accounts for the period April to September under November 9, said BFM Business on Tuesday. Now he hoped to bounce back after suffering a net loss of 197 million euros over the period April to June 2011.In the wake of a meeting with management, a union then estimated at Figaro that "if growth was not at the meeting, a plan for removal on 5000 to 10,000 jobs would be to fear cash advance now."

Undermined by these uncertainties and the lack of clear prospects, Pierre-Henri Gourgeon was forced to resign last week. The directors then indicated that "he was committed to stop the evolution towards a concrete structure group Air France-KLM, to focus on recovery required the two companies." Again in control group, Jean-Cyril Spinetta immediately set the tone by giving the task to Alexander Juniac new CEO of the group, "to respond to the emergence of new competitors, particularly low cost."

Still, this strategy could exacerbate climate distrust between labor and management.

In parallel, Evangelos Venizelos, the Greek finance minister, yesterday met with Jean-Claude Trichet, head of the ECB, to negotiate a restructuring of the Greek debt at a discount of between 40% and 50%.The minister said that "there is no alternative to restructuring." The latter has also expressed confidence the outcome of the vote in parliament of the new austerity plan, condition of the granting of new loans of the troika, because according to him "which member will take responsibility to lead Greece to failure to pay? ". A view shared by the French Minister for European Affairs, Jean Leonetti, who said Sunday that "Greece will avoid bankruptcy because it is the interest of the Greek state, the Greek people and is the interest of us all.If Greece were to fail tomorrow, it would cost more than if it did not go bankrupt, "he said on Radio France International.

The rising social discontent in Greece

The Heads of State and Government in July found an agreement to rescue Greece and broaden the scope of intervention of the relief fund of the zone (EFSF), including providing it with an instrument enabling it to market purchases of debt of states in difficulty. This agreement is being ratified by 17 national parliaments in the area. The vote of Germany, the country is the biggest contributor to EU aid plans appear on track.In a television interview Sunday night, German Chancellor Angela Merkel has indeed shown the outcome of the confidence vote scheduled Thursday in the Bundestag.

But Greece will probably have to wait beyond the holding of a Eurogroup meeting on Oct. 3 before a decision on the release of the next tranche of aid. "Given the delay by the Troika mission (IMF, ECB and European Commission), I do not think that the next meeting of the Eurogroup, October 3, a decision on the sixth installment," said Sunday Washington Deputy German Finance Minister, Jörg Asmussen

In addition, the rising social discontent in Greece.Further strikes are planned next week before a general strike on October 19.

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The declaration on Sunday night on TF1, former IMF Managing Director Dominique Strauss-Kahn, for whom "we must accept to recognize that we must take his loss" of Greece was the effect of bomb."Hearing that DSK four months ago the IMF also urged new funding for Greece say the exact opposite now shows how events have turned," says Bruno Cavalier, chief economist at Oddo Securities. For the latter, there is a "real tired of the financial markets who want to wipe the slate clean once and for all to get back on firmer footing."

A feeling evident in a survey by Barclays Capital from major global investors. They are 24% think that the current crisis will lead to a breakup of the euro area. Over 60% of them believe that the European Financial Stability Fund (EFSF) will be insufficient to resolve the debt crisis.Although little scientific significance, such polls show the amount of work to be done now to reassure the magnitude of the crisis.

Bercy wants to reassure

France, Monday it is used by the voice of its Minister of Economy Baroin for which a default of Greece "is not a working hypothesis." At Bercy we stick to the same line of defense when all European countries have adopted the plan of July 21, that is to say by mid-October, the bleeding will be stopped.Reasoning that is opposed to that of economists who say a failure Greek is becoming increasingly economically rational, "If they want to avoid a failure of control, the Troika and the European Union in particular have an incentive to relieve pressure on the objectives short-term budget of Athens by insisting on the implementation of structural reforms to boost potential growth in Greece, "say economists at Morgan Stanley.

Rather than a sudden failure, we must consider a debt restructuring in the short term, implying a lower repayment installments provided for in the coming months to ease the Greek public finances.The major risk of such a scenario is a contagion to other peripheral countries "can be avoided if the ECB goes on the front lines and discourage speculation against the Italian debt by buying heavily," said Bruno Cavalier.

Creditors on deck

In this climate of growing skepticism, Greece somehow continues the implementation of the agreement of July 21, which passes through the participation of private creditors. Artisans of the device designed to reshape 192 billion euros of Greek claims STRIPS to complete the offer in October. "This operation can not be done in a snap. It is very complex technically and supports many constraints, "insists Fabrice Faure-Dauphin, a partner with law firm Allen & Overy, the Board of the operation.And insist: "If Greece were to miss a deadline, it does not fundamentally change the rules and would not offer more solutions to the problem."

The only good news, the first signals of the voluntary contribution of banks and other insurers are quite positive. While Greece requires a 90% interest in the exchange, some suggested a rate of 75% or 80%, almost unexpected. At these levels, the operation would have every opportunity to move forward. "A contribution of 85% instead of 90% needs to find an additional 8.5 billion euros," analysts calculate Barclays Capital.If Athens was a survey of creditors, the real success of the operation will not be known until after the formal offer proposal issued by the Greek government.

Athens without a loan repayment expected before December, this still leaves him time for both to continue its negotiations with the Troika and to carry out – or not – this massive debt restructuring for its crucial public finances. Meanwhile, the markets do not.

"Considering the financial resources currently limited to Saab Automobile, a voluntary reorganization will help to use the most efficient way the existing resources," the company said.It must be said that its financial situation is critical for several months. The manufacturer, which employs 3,700 people, announced in June that it would stop paying the salaries of its employees. Part of these wages was settled late, since, while, as of August have not been paid. In late July, the Saab postpone indefinitely the resumption of production at its only factory in Trollhattan, Sweden, interrupted once again from June 8 Suppliers, remained unpaid, stopped shipments from April free 3-in-1 credit report. Some had to degrease their workforce.

Breathless

In this grim context, Swedish Auto has continued to widen its losses. In late August, the owner of Saab announced a significant loss of 201.5 million euros in the first half of 2011, against 21.9 million euros during the same period in 2010. The losses have been increased tenfold.The group, however, made efforts in all directions to ensure its survival. Saab had been saved from bankruptcy in early 2010, when, breathless, it was bought by the Dutch Spyker (now Swedish Automobile) to U.S. giant General Motors. Over the last six months, Saab has signed contracts with Chinese distributors and Pang Da Youngman and negotiated a contract to sell its real estate leased for cash.

These efforts have been inadequate and the rest of the employees of the manufacturer of short duration. Now, IF Metall, the main trade union of Saab, said that the decision of Swedish Automobile "might be a good solution."She hopes a quick decision of the Court of Vänersborg on the demand for Swedish Auto, so that its "members can quickly receive a reply regarding the payment of their salaries."

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This bad mood due to a surge in concern about the state of the global economy, reinforced by poor indicators of the Atlantic. Bad index measuring the Philadelphia Fed manufacturing activity in the region, lower sales of existing homes in July, new jobless claims rising again during the second week of August … All signs of the apparent stagnation of growth in the United States.

Concerns about U.S. growth fears add to the debt crisis in Europe, European banks are the first to bear the brunt. In its Thursday edition, The Wall Street Journal reported on fears the U.S. Federal Reserve on the liquidity of European banks. And for the first time since February, the European Central Bank (ECB) has given a major dollar loan to a European bank, whose identity was not revealed. An action that reinforces doubts about the ability of banks to refinance.

Morgan Stanley has added his two cents to panic, explaining that she perceived the United States and Europe as "dangerously close to recession." The President of the European Union, Herman van Rompuy, tried Thursday to calm the mind by ensuring that there was "no new recession" in sight.And this morning, Chinese Vice President Xi Jinping has reaffirmed that the U fast cash online.S. economy was "resilient". In vain.

"The bears are back"

"The bears (stakeholders pessimistic note) are back in force that night, after disappointing U.S. economic indicators and renewed fears about the stability of European banks, which prompted investors to push the button sales," said Ben Potter, an analyst at IG Markets in Australia. "There seems to be getting ready for a weekend very ugly, with a market dominated once again by fear and panic," he added.

Gold reached a new record Friday morning in Asia, to 1,837.50 dollars per ounce, due to the concern. And oil, which fell 6% in New York yesterday, continues to fall in morning trading.A barrel of "light sweet crude" for September delivery lost 1.69 dollars to 80.69 dollars while that of Brent North Sea crude for October delivery gave 68 cents to 106.31 dollars.

No significant indicator that could reverse the trend, are expected on Friday.

Values ​​to follow

The banking sector

European financial stocks again Thursday unscrewed rolled by renewed tensions in the interbank market and concerns about the short-term refinancing of banks.

Danone

Nestlé, the group became a favorite activity for infant formula, Wyeth, Pfizer subsidiary, valued at approximately ten billion dollars (seven billion euros), officials said a source familiar with the bank.

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.

"Nothing has been decided yet but what is certain is the group's desire to stem losses by reducing payroll," says one union source.Among the possible scenarios, which will decide the future of 32 employees: turning the magazine supplement of The Express, all journalists bring economic group in a cross-pole working for several reasons, pass on a quarterly basis by a high-end magazine, or sell.

Expansion employees are under pressure last year. The erosion of sales of the title is yet online, or below, from that observed in the overall economic magazines, down 7.3% last year, according to OJD.

Confidence motion

Magazines such as the monthly Capital (Prisma) or the weekly Challenges (group Le Nouvel Observateur) have seen their circulation decline of France paid 7% and 8% business card.But operating losses accumulated by L'Expansion – 12.3 million euros in five years, including 2.4 million in 2010 – and the failure of the new format of the magazine launched in April 2010 have alerted the newspaper's owner, the Belgian group Roularta Media. A social movement last year and passing a motion of no confidence against the leadership of the group, on May 18, have apparently he finished to convince to make a new crop, it more drastically.

Corinne Pitavy, the CEO of Groupe Express-Roularta and Christophe Barbier and Eric Matton, who co-leading the pole mass media, have sent their proposals to Rik de Nolf, president of Roularta Media Group and its main shareholder. June 24, during a council, an expert should be appointed to audit the financial situation of the newspaper, right after the warning issued by staff representatives in late May.

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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Drought crisis in the cucumber and G20: Invited Talk Orange-Le Figaro, the Minister of Agriculture Bruno Le Maire is back in detail on Monday on these three topics that dominate the front of the news. Positive for some 200,000 French farmers victims of water scarcity, France should be able to release national aid beyond the maximum normally allowed by the European Union (EU). "I moved (Monday, Ed) in Brussels to discuss the matter with Ciolos (Agriculture Commissioner, Ed). No one will be forgotten. I think we have opportunities for national support that will exceed what is permitted by the EU to ordinary, "said Bruno Le Maire.However, the European Commission does not yet directly aid from the EU budget.

Bruno Le Maire especially wanted to ensure that national aid were "euro-compatible", that is to say, "consistent with European law." He remembers the painful episode in August 2009, just months after his arrival Rue de Varenne: Brussels had demanded repayment of State aid paid by its predecessors to fruit and vegetables because the Commission had deemed illegal with respect to Community rules.

"Compensation to the nearest euro"

Another hot topic of the moment: the crisis of confidence among European consumers against cucumbers, lettuce and tomato, consequent upon the outbreak of the deadly bacterium E. coli. While the season is at its peak, this resulted in considerable losses for European gardeners.Especially for the Spaniards, whose whole fruits and vegetables have not been sold for export, more than 200 million in total losses cash advance loan. French producers have not been spared. "There must be a compensation to the nearest euro losses suffered by vegetable growers in France not only for producer organizations but also small producers," insists Bruno Le Maire. A first encryption performed by vegetables in France last Friday, evaluates losses just for cucumbers and tomatoes to 4.8 million. "Our services will address these estimates, in order to unblock the aid faster," said Bruno Le Maire.

The latter will participate on Tuesday with his counterparts in Europe affected by this disaster to an extraordinary meeting in Luxembourg on the issue.It could lead to "an agreement in principle to action," said Bruno Le Maire for the future that "we must draw the consequences of serious device malfunction safety revealed by this crisis." Finally, the G20 on agriculture to be held in Paris in a fortnight, Bruno Le Maire, who completes her world tour in London this afternoon, is optimistic about the possibility of reaching an agreement. "After a year of negotiations, I think it is not far from a consensus. Agriculture is a strategic issue for the world, "said Bruno Le Maire. All subjects that did not give her time to reflect on the estate of Christine Lagarde. "I do not think about the issue, merely there to answer his name when talking to Bercy.

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