At The Core
World News
Loss history published Monday by the German manufacturer Q-Cells solar panels, receivership last week to the French pioneer Photowatt, bankruptcy of the American Solyndra, despite a half-billion dollars in loans guaranteed by the Obama administration … The horizon of the PV industry seems to have dimmed in recent weeks.
Last date black cloud, so the results of Q-Cells, which Monday posted a quarterly net loss of EUR 57 million, a quarter of sales, itself down 43% year on year cash advance to savings account. The bad news have plunged the action Q-Cells up to 30% on Monday in Frankfurt. The German company cited "market environment significantly more difficult than expected."
A subway project in the Channel
Do we take the subway to Calais soon the morning to work in 25 minutes on the other side of the Channel in Ashford, and go home at night by the same means? This is the project defended tooth and nail by an association of French entrepreneurs in southern England. The Union of French Citizens Abroad organized Thursday a day of employment and business in the region where the project was presented shuttle Channel.
Olivier Cadic, an entrepreneur of 49 years, Councillor elected to the Assembly of French abroad, moved to Ashford fifteen years ago "because it was the first stop on the Eurostar," to escape the French tax burden, creating a media outcry.It was followed by other entrepreneurs from ready to provide many jobs.
"It's hard to recruit because the high cost of real estate in Kent do not allow employees to set up small, explains Olivier Cadic. An electronics company came along with me, which now employs 1,500 people, would be willing to offer 100 jobs immediately. Or just on the other side of the Channel to Calais, there is 25% unemployment. The TER of the Pas de Calais stops at the entrance of the tunnel. It's absurd. "
For 2012 Olympics
For its proponents, the metro project under the English Channel would be easily achievable. Eight TER trains purchased by the Nord-Pas de Calais originally for a project linking Lille-Manchester, could very well use the tunnel to get to Ashford in less than half an hour cash advance now.Eurotunnel, used only 55% of its capacity, is all for this binding would increase its revenues. SNCF, partner Southeastern Railway on the other side of the Channel, did not object either.
Consul General of France in London, Edouard Braine, is optimistic. "It's a certainty it will happen. Just look at a map and see that there is full complementarity between the two regions. Cross-border workers are already doing this ride by carpooling Eurotunnel but that's not very practical. And this is not the business of Eurostar to the local service. "The high speed train between Paris and Ashford has phased out most of his stops at Calais and London to optimize speed between the two capitals.In addition, its prices are prohibitive for commuting.
The ball is in the camp of the Nord-Pas de Calais, which seems to drag to decide. One question: is there a sufficiently large market to recoup such an operation? The members of the association believe that the London Olympics in 2012 would be a great opportunity to launch the line.
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Tax: light drinks would not be spared
The fans thought they were lights beverage spared the tax on soft drinks made by the Government in late August. Did not count on a UMP Amendment / New Centre approved in committee Wednesday as part of the review of the draft budget 2012. While the amount of tax on sugary soft drinks is on track to be doubled, MPs are now looking to expand the scope of this tax on soda beverages containing sweeteners.
The government, which did not include this option in the first place, now says not to exclude the idea. "It is the wishes of the parliament, we will discuss," said the spokesman of the government, Valérie Pécresse, on the set of Canal + on Thursday.
The stakes are high for the government because the sugar-free drinks, but with sweeteners that give a sweet taste, is increasingly consumed.Today, they account for 17% of the soft drinks market with strong brands like Diet Coke or Coke Zero.
No figures have yet been provided about the extra tax revenue that would generate this new amendment, if adopted in plenary session. The previous amendment adopted by the Finance Committee of the National Assembly, to double the amount of tax, also remains to be validated by all the members. By itself, it could generate a windfall estimated at 250 million euros a year, instead of 120 million euros initially planned. The rate of contribution on the sodas would be increased to 6.22 euros per hectolitre in 2012.Then he would be raised from the beginning of 2013, to January 1 of each year, at a rate equal to inflation (excluding tobacco) in the penultimate year.
Support the agricultural sector
As announced in the Figaro, the objective of this expansion drinks with sweeteners is to finance the lower cost of agricultural labor "to allow our farmers to sell their products at the same price as Germany and Spain" explains Valérie Pécresse payday advances. The government has in fact reduced in 2012 from 210 million payroll taxes on permanent farms. The tax will be reviewed and corrected to about half.
The industrial problems digesting the news. "We said from the beginning that it was normal to participate, provided that everyone involved in the fight against deficits.Simply, we do not want to be the adjustment variable of all the deficits that pass and on which we have not much to see, "said Jean-Rene Buisson, president of the National Association of Food Industries (Ania ). The doubling of the tax sodas would, he said, an estimated increase "between 0.2 and 0.3 cents" per can.
No problem for Michel Diefenbacher UMP (UMP): "These drinks, which are not basic necessities, benefit from the reduced VAT rate.They must be able to withstand the additional load generated by this new contribution, "says he in a sub-amendment.
But for now, nothing is yet definitively confirmed nor on the doubling of the tax, nor about its extension to drink with sweeteners.
End of aspartame in system U
The distribution group Système U has chosen to abandon the use of aspartame in soft drinks sold under any brand, starting in January. For the first time a manufacturer makes such a decision. This choice responds to the concerns of the European Food Safety Authority (EFSA) on the effects of this artificial sweetener.
Système U has already banned the use of parabens in cosmetics and Teflon in cookware. Its chairman Serge Papin, expresses his desire to "become a leader in healthy products."
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Action Housing continues the state court
Having long raged about the punctures of the State Budget, Action Housing, the former 1% housing, just go on the offensive. Reportedly, the joint body attacked last Friday before the Paris Administrative Court of the State's decision to withdraw 3.7 billion euros between 2009 and 2011. These funds are used to finance the Anah (National Housing) and ANRU (National Renewal). "We made an informal appeal with the government against the decree fixing the puncture but we never received a reply, said Jean-Pierre Guillon, Chairman of the Supervisory Board of Action Housing. We decided to attack the government for abuse of power. "
Smart devices
If Action Housing is the case in court today is with an idea behind the head.Last July, the government has said that he would collect 3.25 billion euros over the period 2012-2014. To sweeten the pill, the Secretary of State for Housing, Benoist Appeared, has committed to implement clever financial engineering to boost the cash flow of Action Housing. "But we have no documents indicating that commitment forward Jean-Pierre Guillon. If the minister changed, the following may not feel bound by that promise. "More generally, Action Housing, which collects 0.45% of payroll companies, believes that this aspiration will prevent it from fulfilling its mission . For example, he does not see how it could fund 45,000 homes for young people as he had promised a few months ago.
With this lawsuit, it seeks to pressure the state to be released in the coming weeks the decree laying down the drain of 3.25 billion between 2012 and 2014.
The CAC 40 falls through its
The days are not alike on the financial markets. The past three days, the CAC 40 has continued to flirt with the bar of 3000 points. This Friday, the stock index closed down 1.51% at 2981.96. Thursday reassured by indicators of employment growth and U.S. financial markets this time had a difficult session after disappointing statistics from the United States, China and Europe. Thanks to a good start to the week, however, the CAC 40 gained more than 5% this week.
So investors remained pessimistic before the meeting between President Nicolas Sarkozy and Prime Minister of Greece George Papandreou that began at 17 hours, to "take stock of the situation with him that is currently in Greece."
More than 18% increase for the banking week
Across the Atlantic, consumer spending has slowed sharply in August, while household incomes have in turn declined for the first time since October 2009. Were also more bad news from China where activity contracted slightly in September for the third consecutive month as Germany, which saw its retail sales fall 2.9% on month in August .Sign of the resurgence of pessimism, the euro resumed its decline against the dollar at 1.3456 dollars (-0.96%) and oil is about to go under 80 dollars to 80.082 dollars exactly (-1, 61%).
On the corporate side, banking stocks were again weighed on the Paris stock exchange, but this time negatively. Societe Generale lost 7.31% to 19.54 euros, Crédit Agricole has sold 3.17% to 5.23 euros and BNP Paribas dropped 3.50% to 30.05 euros. Week, however, was very positive for the French banks as they have won between 18% and 20% in stock. Most cyclical stocks, the more dependent the economy, also rose in the image of Lafarge (10.40% for the week) and ArcelorMittal (4.93%). However, the luxury sector has suffered: the last five sessions, lost 5.50% LVMH and PPR was down 7.88%.Vallourec, which suffers from the slowdown in the sectors of mechanical engineering, gives up almost 9% for the week.
Refinery strike threat to hard Berre and elsewhere …
As soon as the announcement by LyondellBasell Tuesday in council, the forthcoming closure of the Berre refinery, which employs 370 people, of all 1270 employees of a petrochemical site voted renewed strike of 24 hours. "More than a thousand employees, including much of the leadership, voted to stop all of the site, that is to say the refinery, but also units of petrochemical and oil depots, and blocking of entrances and exits, "said Patrick Sciurca, spokesman of the Inter (CGT, CFDT, CFE-CGC, FOR, CFTC). "We're dealing with rogue bosses. They force us to take tough positions that we can further tighten, "says the union.CGT announced yesterday that the general meetings will be held in all French refineries this morning.
In 2010, the area was paralyzed by a social movement in response to the announcement of the closure of the Flanders refinery, operated by Total in Dunkirk freecreditscore. At the time, the conflict had disrupted fuel distribution in France.
At Berre, the sale of the refinery achieved no result, LyondellBasell prefer to stop the costs: it has indeed lost 400 million euros since its acquisition in 2008 and is expected to be € 120 million deficit in 2012 . "It's the only number that management has given us. They are unable to tell us what results come out the whole site with or without the refinery while a McKinsey study estimated that closing the refinery would deprive downstream from the site of 80 million margin of integration " , Patrick gets upset Sciurca.
Banks: State ready to inject funds
French banks are they as strong as they claim? While Baroin, Minister of Finance, was the United States this week to reassure Americans about the health of European banks, Bercy is yet ready to draw a rescue plan, according to the Journal du Dimanche. Citing sources close to the bank and Elysium, the weekly reports that a secret crisis meeting was held in the Treasury Department Sunday, September 11. The leaders of BNP Paribas, Societe Generale, Credit Agricole, Banque Populaire, Caisse d'Epargne and Crédit mutuel have attended.
On the agenda, the capital of these institutions. While the debt crisis spreads, Europe wonders if its banks could absorb the shock of a default of Greece. Especially since the hypothesis of a failure of Athens is no longer taboo.This is why the French government is proposing to inject 10 to 15 billion euros of public money to strengthen bank capital.
Several forms of intervention would be considered, since the loan to the simple issue of preference shares (private equity voting rights) with options to purchase, understands the JDD. The initiative comes as the Bercy banks are suffering on the stock market. This week, bank stocks have suffered losses of more than 10%. Since July 1, the Societe Generale shares tumbled 61%, 58% of Crédit Agricole and BNP Paribas 53%. Aggravate the climate of distrust surrounding the French banks, groups such as Siemens or Meetic, decided to limit their exposure to these institutions payday loans. As the major U.S. money market funds.
The Elysee and the Bank of France belie
According to the JDD, Societe Generale would have accepted the plan, subject to conditions. CEO Frederic Oudéa, would have liked all the French banks are concerned to avoid pointing the weaknesses of the one or the other in particular. But Baudoin Prot, CEO of BNP Paribas, had initially refused this rescue group, burying the coup the project. It must be said that he repeats everything is that BNP Paribas does not need a capital increase. Last week, it was stepped into the breach to deny information from the Financial Times that the group was looking for a new shareholder in Qatar.
For its part, the Elysee denies the existence of a backup plan. "This is absolutely not being prepared," insisted the entourage of the Head of State to the JDD. "Banks have increased their capital by 50 billion euros since 2008.We encourage them to do, but not with public money. "Also interviewed by the Sunday newspaper, Christian Noyer, Governor of the Bank of France said that there was" no plan ". He said French banks have "a substantial capital base, comparable to those of other European banks, and are profitable." Investors would also not fooled. "I see no sign of a run and the very idea seems preposterous."
Player Figaro BFM
"The user usually has nothing to fear"
Is this the end of unlimited Internet packages at home?
No operator has no plans to do so today. The buzz started on the Internet by Owni skidded. The presidents of the major operators have simply said in recent months that they would go to differentiate their offerings and those who consume the most could be more involved. But the average consumer has no chance of being involved.
What consumers might be affected?
This is very, very heavy users, a very specific segment of customers that are found in all countries. These are 5% to 10% of consumers who use 80% of the bandwidth, because they spend their time downloading movies, make video at all times, spend the day on Facebook with video, YouTube, Dailymotion cash advance payday loan. The population is fairly limited.Perhaps operators will they have different prices for those? Maybe they will limit their bandwidth? Nothing is decided. But the ordinary user of the Internet has nothing to fear.
Is not a disguised means to raise prices for everyone?
No. On the contrary, the good news of the season is that competition only increased with the arrival of new players like Virgin Mobile or the post office in the market for Internet box. This will add new offerings on the market, which is already very busy. The French are very lucky: they can take advantage of competition.
Fruits and vegetables producers' anger
Was rotten to the producers of French fruit and vegetables. Multiply these actions to raise awareness of the state of their precarious economic situation. Vegetable growers now call their members to "strike of public payments," inviting them to no longer pay their payroll and other taxes. "I did not revive the disastrous situation of 2009, laments Angelique Delahaye, president of vegetables in France. Treasuries of our 40,000 businesses are very tense, 10% to 15% risk of extinction. We invite them to put themselves insolvent employer contributions to the MSA, deadlines and other bank charges. We must keep what little cash we have left to pay our employees and our local suppliers, "she says.
The gardeners feel they have lost 20% to 40% of their turnover since the crisis of cucumber, late MayAfter the questioning of vegetables by the German authorities in the bacterium E. coli, there has been a surplus of vegetables in the European market. With, as a consequence, a collapse in prices. These never reached the levels of last year payday loans. First victim, the tomato, which is officially in economic crisis last week.
Finally, the bad weather came to tarnish the situation. "The winter vegetable pot-au-feu or those consumed in béchamel as cauliflower are selling well right now over their cost," says Angelique Delahaye.
Targeted actions
Fruit growers are hardly better off. They have the advantage of cross-over for the holiday challenge on the road. "Sos Fruits, Europe guilty, absent policies …" be able to read on the tolls or stickers on banners hung on the bridges of the A7."We sell our fisheries currently 30 cents below our cost, deplores Regis Aubenas, producer of peaches in the Drome, the cause of this action by the FDSEA. We call policies to regulate the market so that the Spanish leading provider of fisheries in Europe, stop the dumping by selling eg 35 cents per kilo in Hamburg at Lidl. "
The player is used by default in the articles of figaro.fr. Maj7
Wall Street still heavily lower
Concern persists on Wall Street. In early trade, the Dow Jones unscrewed from 2.06% to 11,008 points, the Nasdaq 3.10% to loose 2408 points and the S & P lost 2.74% to 1140 points. As in Europe, signs of nervousness are palpable. The volume of trade is still very well fleshed out and heightened volatility. "At this stage, investors dizzy," says Oliver Pursche, president of Gary Goldberg Financial Services.
On Wednesday, Greece again worried investors. The country plans to expand its exchange program to include obligations of the securities in the longer term, which penalizes first private creditors.
In addition, operators are even very concerned about the state of the U.S. economy. Yesterday, the world stock markets have overreacted, and positive against all odds, to about the Fed.This has indeed ensured that it would maintain its rates at a historical low, and until mid-2013 to support the economy. Its leaders also promised various stimulus, but without specifying its content. It will probably wait until his final release in late August. On the merits, however, the Fed has painted a disturbing report from the world's largest economy. Growth, pointing in particular the U.S. central bank, is growing at an annual rate of less than 1% in the first half, where the institution expected, earlier this year, more than 3%.
In contrast, oil prices were up sharply at the opening Wednesday in New York, in a market where investors were trying to regain footing after heavy losses, and pending the report of the stocks in the United States payday loans.On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for September delivery was trading at 81.20 dollars, up 2.40 dollars compared to the previous day.
Cisco News Corp expected
On the business side, Cisco (-1.68% to 13.82 dollars) will unveil its results later this evening the fourth quarter, along with News Corp (-5.36% to 13.77 dollars).
Disney (-12.72% to 30.29 dollars) falls after the media group has yet announced quarterly results better than expected thanks to strong advertising revenue on its cable networks.
The title of U.S. internet group AOL (-8.85% to 10.20 dollars) has lost over a quarter of its value on Tuesday at the New York Stock Exchange after the release of disappointing quarterly earnings and lower forecasts. The stock has dropped 25.75% against the current of a market up sharply.The action even reached 10.36 dollars during the session, the lowest price ever since the split with Time Warner in 2009.
Facebook on Tuesday launched a new application for mobile phones iPhone (Apple) and those equipped with the Android operating system (Google) to send messages to his "friends" on social networking, but also to other contacts. Called "Messenger", the application can send both text messages (SMS) and email.
Apple (-1.11% to 369.85 dollars) briefly delighted yesterday to ExxonMobil, its position as the first market capitalization.