Energy saddled banks and the Cac 40

Despite the return of large mergers and acquisitions, the CAC 40 remains in the red, while the growing concern over Portugal after ratings agency Moody's has further worsened the country score. At mid session, it loses 0.62% to 4017.94 points.

At the Stock Exchange Frankfurt, the DAX 30 lost 0.36% to 7149.51 points, for its part, the Footsie-100 from the London Stock Exchange was down 0.32% to 5997.69 points.

With the exception of the Nikkei, which lost just over 1%, most Asian stock indices move in the green. On Monday, the Dow finished at its highest closing level since early June 2008, at 12,400.03 points.

On the macroeconomic front, growth in activity in the services sector accelerated further in March to its fastest pace since last August. The services PMI rose to 60.4 against 59.7 in February. An initial estimate had been given to 60.7 on March 24.

For the euro area, this index stood at 57.2 against 56.8 in February, its highest level since August 2007. It is superior to the flash estimate of 56.9.

Also for the euro area, retail sales came out slightly down from 0.1% in February compared to the previous month after rising 0.2% in Jan.

In the U.S., the ISM index of activity in services is expected in March to 16 hours.

On the currency markets, the euro fell slightly against the dollar at 1.4181 at midday in Paris.

Oil prices retreated Tuesday morning. In morning trading, a barrel of light sweet crude for May delivery lost 0.39% to 108.05 dollars.

EDF, the biggest drop Cac 40

The values ​​of energy (EDF, GDF Suez, Total, Air Liquide) are also tracked by investors.EDF lost 3.69% to 28.45 euros, GDF Suez fell by 3.25% to 27.35 euros and Air Liquide was down 0.25% to 95.52 euros, in contrast, loses 0 Total , 20% to 43.29 euros.

The government announced the cancellation of the rising gas prices on 1 July and the study of a new pricing formula. In contrast, electricity prices will rise by 2.9% on 1 July. Matignon has also confirmed that the oil companies will be involved to curb the soaring fuel prices.

Banks battered on Tuesday after Moody's downgraded the rating of Portugal. The rating agency does not lower it again.Societe Generale loose 2.37% to 44.72 euros, BNP Paribas dropped 1.73% to 51.83 euros, Credit Agricole sells 2.73% to 11.39 euros and Natixis was down 0.96% to 4 , 01 euros.

STMicroelectronics: 2.72% to 9.02 euros

STMicroelectronics benefits of the takeover bid by Texas Instruments of National Semiconductor for $ 6.5 billion (4.6 billion euros).

Areva: 2.12% to 31.75 euros

A list of candidates shortlisted by the Supervisory Board of Areva to hold the presidency of the Executive Group was deposited on the office of Nicolas Sarkozy, according to Liberation, citing near the head of state.

L'Oreal: -1.36% to 82.77 euros

According to the daily 20 minutes, the boss of L'Oreal, Lindsay Owen-Jones would be the subject of a complaint filed by Janez Mercun, a Slovenian who had a contract with L'Oreal granting the exclusive distribution market Russia.

PSA Peugeot Citroën: 0.39% to 28.58 euros

Gefco logistics group, a subsidiary of PSA Peugeot Citroën has signed with Italian funds RP3 Venice and a contract to acquire their share of 70% stake in Gruppo Mercurio, an Italian specialist transport and distribution of vehicles .

Cap Gemini, +0.01% at 41.55 euros

Cap Gemini is expected to announce Tuesday the acquisition of two French companies, and Artesys Avantias for $ 40 million, according to Les Echos.

Havas: -1.41% to 3.85 euros

Havas announced the acquisition of the independent agency Farm Strategy, without specifying the amount of the transaction.

Technip: +0.10% to 77.10 euros

Technip awarded a contract by RWE Dea for the development of gas field Clipper South in the North Sea.

Belvedere Trading on shares was suspended on Tuesday at the request of the company after the resolution of the preservation plan of the group of wines and spirits, delivered Monday by the Tribunal de Commerce de Dijon. The stock closed Monday up 8.67% to 66.20 euros.

Crash Rio-Paris: Air France indictment

Justice accelerates. 24 hours after Airbus, Air France, which was served on Friday's indictment for "manslaughter" as part of the investigation into the disaster of 447, the flight from Rio to Paris, which has been 228 victims on 1 June 2009.

While a fourth phase of research at sea to begin next week to find the wreckage of the aircraft and its black box and determine the conditions of this mysterious disaster, Judge Sylvia Zimmerman chose not to wait.

In the current survey, the questions focus on the Pitot probes (speed measuring device) which is icing is the cause of uncoupling of the device and then it disappeared. Numerous incidents of icing were recorded before the disaster: 32 between 2003 and 2009 and five in the world for the sole Air France between May and August 2008.Legally, Air France seems solid on this issue. In fall 2008, facing an upsurge in incidents of icing, exchanges took place between the company and the manufacturer on whether to change the probes Thales AA (those that were on the AF 447) by probes Thales latest type BA. Unanswered. In February 2009, four months before the accident, wind tunnel tests were conducted by Thales probes BA. In April, Airbus sent a letter to Air France to indicate that the last generation of probes Thales (the BA) had 'behavior much better. " The company had then decided immediately replacing probes Thales AA BA probes delivered at Paris in May 2009. These were to be installed on the aircraft of the Air France fleet in June. Too late to avert catastrophe.

Maintenance services exonerated

In this area, so it is rather the responsibility of the European Aviation Safety Agency (EASA) which is engaged. Despite the incidents, it has not produced any studies on the events related to the problems of Pitot probes before the disaster. It took until late August 2009, three months after the accident, that the agency requires the replacement of all sensors Thales equipping the European fleet by American models like Goodrich.

The criminal investigation also exonerated maintenance services for Air France. Tests conducted by investigators from 80 probes taken from the Air France aircraft revealed no abnormality.

Air France does appear to have been slow to take preventive measures in the training of crews to deal with these recurring incidents: specific simulator sessions at high altitude.He indeed was not until the fall of 2009, several months after the accident for the airline organizes a training flight when information loss anemometer consecutive icing on pitot probes. This is where the company is justified in the investigation stage.

The economy will rebound after the earthquake

The destruction resulting from the earthquake and tsunami that struck Japan on Friday are still difficult to assess. Nevertheless, for many economists, which provide a parallel with the Kobe earthquake of 1995, the impact of the disaster on Japan's economic growth will in the medium term, positive rather than negative.

While the cost of the quake could amount to several tens of billions of dollars. In the short term, the destruction caused are enormous: infrastructure damaged production facilities at the stop, the areas impacted are placing great weight in the economy. If the worst-affected region, that of Tohoku, north-east coast, only 8% of Japanese GDP, that of Kanto, which houses including Tokyo, by contrast produces 40% of national wealth.

GDP contraction in first quarter

Besides stopping the oil refinery of Cosmo Oil Ichihara, east of Tokyo, the activity of the Japanese nuclear industry, which produces between 25% and 30% of national electricity production, is seriously compromised. Eleven of the fifty reactors are currently stalled, while an explosion in one of two plants in Fukushima, northern-eastern countries, has caused extensive damage and the evacuation of all population within a radius of 20 km.

"The temporary closure of production plants and oil refineries, and the interruption of power plants should have an impact on the country's production. GDP could result in decreased again slightly in the first quarter, "predicted the AFP and Wolfgang Leim, an economist at Commerzbank.

Growth boosted by reconstruction

In the medium term however, the Japanese economy could rebound strongly. Drawing a parallel with the Kobe earthquake in 1995, Takuji Okubo, senior economist at Societe Generale, said that reconstruction should generate an increase in activity, and the need for people to renew their property damaged boost consumption. The sectors of construction, steel and telecommunications sectors should benefit fully from the increased activity post earthquake.

"After the earthquake of 1995, Japan's GDP grew 1.9% in 1995 and 2.6% in 1996, while the average growth of the Japanese economy over this period was 1.5% .Consumption grew 2.2% between 1995 and 1996 against 1.1% on average between 1995 and 2004, "said Takuji Okubo.

Risk on debt

The Japanese bank Nomura, which also anticipates strong growth in the Japanese economy in the medium term, says his side as the stimulus state has played a key role in 1995 to revive the economy. "Immediately after the earthquake, the government passed an emergency budget which has contributed 0.3 points to GDP growth in the second quarter 1995 and 0.5 points in the third quarter. We anticipate a similar response from the authorities, "notes Peter Westaway, economist at Nomura.

The opposition conservative Japanese has already announced its support for extraordinary measures promised by the center-left government.A situation which should not, however, help improve the financial health of Japan, whose debt stood at 200% of GDP. The rating agency Standard and Poor's has also recently lowered the debt rating of Japan, considering that the country's budget deficit will remain high in coming years. But Moody's did its part Friday that the earthquake should not cause a subsequent breakdown of the score attributed to the Japanese debt.

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2010, annus horribilis for the job

Nicolas Sarkozy had perhaps a bit too far January 25, 2010 when he stated on live television that the French would "reduce unemployment in the weeks and months ahead." The head of the State was based on good numbers while the number of unemployed, made public two days later, in December 2009. A year later, almost to the day, it's the cold shower! The number of unemployed registered at employment center will ultimately declined only once (in October) over twelve months in both reference categories. And 2010 will be remembered as one of the worst years that France has known in unemployment, reviving levels are not achieved during the previous decade.31 December, the Hexagon were between 2.72 and 4.05 million unemployed, between 80,100 and 202,500 job seekers from a year earlier.

Data from December 2010, published yesterday by the Department of Employment, do not grow in addition to optimism about the future. With increases in the number of jobseekers registered at employment center of 27,100 in Class A and 32,600 in ABC (including the unemployed who worked more or less than 78 hours in the month), December is the final one of the most worst month of the year.

Youth and seniors

Youth and seniors are paying the heaviest price with a monthly increase of over 1%. For over 50 years, the increase over twelve months exceeds 16%, whatever the category.As the number of long duration, it continues its slow and inexorable surge: +18.1% in twelve months for the unemployed for over three years and 38.5% for those with one year of unemployment less instant payday loan. The same goes for jobs collected by employment center that fell by 3% in December (but remain stable over one year) and those who complied were down 2.5% a month (and by 2.1% in twelve months ).

As for the motives of entries to the employment center, registration for late term contract or temporary assignments end 2010 to increase by 5.8% and 2.5%, a reversal of the trend mid-year.Only good news entries after redundancy fell nearly 20% over one year.

Xavier Bertrand, the new Minister of Employment – who spent part of the afternoon on the phone with regional prefects to mobilize them – began yesterday to prepare the minds, probably ill-informed figures for December. "We always know that 2010 has not been a good year that the French were waiting for employment," he predicted, but felt that "this is the year 2011 we will be judged" . And the Minister promised in the wake of the measures "within two months" for youth employment and to remember that long-term unemployed remained a priority for the government."We can not allow people to sink slowly but inevitably exclusion," Xavier Bertrand, who has agreed plans to announce soon initiatives with the employment center to "promote the entry into training" and "monitoring individual job seekers long term. "

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Stock options: almost 100 million of gains for Bernard Arnault

In addition to being the richest man in the world, his fortune amounting to 22.7 billion euros, Bernard Arnault, boss of LMVH, holds another record. According to the financial information site, Wansquare he exercised stock options to acquire nearly 1.4 million shares of the group he has a total of 72.3 million euros.

The stock options of the world's number one luxury was performed on the basis of unit prices between 43.30 and 65.12 euros, Bernard Arnault and realizes a capital gain potential of 99.5 million euros, on the basis of the current LMVH (125.35 euros by 1:20 p.m.).

LVMH said that these actions are not intended to be sold.

European cities want to tax the tourists

Europe is the world leading tourist destination. And intends to remain so, while competition intensifies between countries. In 2009, China has stolen the UK fifth in the ranking of tourist destinations in terms of revenue. Still, three European countries remain in the Top 5: Spain with $ 53.2 billion (40.4 billion euros) in revenue, ranks second behind the U.S. (70.9 billion euros), and ahead of France (37.3 billion), Italy (30.5 billion) and China (29.7 billion), according to the World Tourism Organization.

To compete, the big European cities rely on the high end. The Twenty-Seven adopted last October a text betting on quality and competitiveness to give new impetus to the tourism sector, which represents 1.8 million businesses, 5.2% of jobs and more than 5% of GDP of the Old Continent.Resolutions very ambitious at a time when we only talk about fiscal restraint. Some cities have found a solution: impose foreign tourists.

Italy, Germany and Spain attracted

During a television broadcast Tuesday night, the Italian leader, Silvio Berlusconi, said "absolutely logical" the introduction of a tourist tax of one euro per day in Florence (Tuscany) and Venice. The latter, which welcomes about 20 million tourists a year, could soon establish a daily fee of one euro to foreign tourists, said the mayor, Giorgio Orsoni. On holiday in Rome will also be more expensive. The municipal council of the Italian capital has decided to turn to apply from 1 January 2011 a tax resident of a tourist at least one night in a hotel.A fee of 2 euros per person per night, with a maximum of ten nights.

Italy is not the first tourist area to take such measures. Last July, the president of the Barcelona Tourist Office has raised the possibility of charging a fee of one euro per tourist to offset declines in state subsidies, as the Magazine of Tourism. This device would allow Catalonia to raise 15 million to 20 million euros, according to the Tourism Office, which identified bout 6.5 million tourists in Barcelona in 2009. In Germany, the principle has been around even longer, said La Tribune. Weimar and levy a tax on tourists since 2005, while Cologne has introduced a 5% tax on hotel rooms and plans to raise up to EUR 20 million per year through this scheme.The idea of such a tax also makes his way to Berlin, where elected officials hope to replenish their coffers from 20 to 30 million euros per year, according to La Tribune.

No additional tax plan in France

In France, Secretary of State for Tourism, Frederic Lefebvre, has just announced Tuesday a plan of action on the reception of tourists. "With nearly 80 million visitors, France is the premier tourist destination, in terms of number of tourists, the ministry argues. "The reception of tourists is considered one of the points that can be improved in the French tourist." Priorities include: better inform the visitor, the best guide, facilitate access and movement. A "charter of quality of service" should be signed on 15 February.Today, the tax provisions relating to tourism in France, including the tax and the flat tax, are included in the tourism code. And for now, no draft additional tourist tax was raised, it says the department.

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Towards a new record for Christmas SMS

The record is broken every year and 2010 is no exception to the rule operators are preparing for a new tidal wave of SMS for Christmas and especially for the night New Year's Eve.

Orange and expects a 40% increase with 275 million text messages sent by its customers on 1 January. SFR think beyond the threshold of 220 million SMS (+30%) on the night of Dec. 31. Bouygues Telecom expects 113 million SMS 31 and 195 million on 1 January, a total of 308 million text messages in two days (against 184 million last year). At the height of the evening, between midnight and 1 hour, "Orange anticipates a peak of 25,000 SMS per second, against 18,000 last year.Is thirty times more than ordinary day, "says Stephan Kanis, COO Orange services.

Especially, new this year, traders expect a flight of MMS (short message with pictures or video), because of the democratization of smartphones, such Apple's iPhone, which makes sending these messages much easier . While now a few clicks, they should be up by more than a third. Bouygues Telecom table even on a double to 1.2 million MMS Dec. 31 (against 608,000 last year) and 2.4 million on 1 January (cons 1.1 million).

No financial jackpot

If the networks are strained, operators, accustomed to these seasonal peaks, do not fear failure. Each year they are preparing by adding equipment in their "SMS centers, and building their teams.Orange will therefore mobilize additional 125 people, and SFR 70 people in the centers of supervision of their network, located in Paris and Lyon.

Despite these new records, operators should not even reach the level cap this year. For between the boom and the rise of smartphones with unlimited SMS packages, uses exploded. "There is no substitution of different media against each other. All are growing, "says Guillaume de Lavallade, director of network solutions of SFR.Moreover, voice calls, too, increase during the holidays, both fixed (three times more traffic) on the mobile (twice).

If these traffic spikes are not a financial jackpot for the operators (SMS are often already included in the packages and not charged more), they are for the operators a major showcase to demonstrate their technological know-how.

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Antoine Frerot flying Veolia

Click on the thumbnail to enlarge the graphic

Controllers' strike: Madrid considering the state of alert

Air traffic was still paralyzed on Saturday morning in Spain by a wildcat strike controllers that surprised the country on Friday at the start of a long weekend. An Extraordinary Council of Ministers was to begin at 9 am (8:00 GMT). The government might decide could "alert status", under which air traffic controllers who do not present their positions are threatened with prison.

Despite the government's decision to entrust the Friday night air control to the army, no traffic recovery has taken place this morning. "The situation is the same as yesterday. There are no flights. Only transoceanic flights arrive at Madrid Barajas said Saturday morning, a spokesman for the Airport Authority (Aena), noting that the situation was the same throughout the country. Almost all of Spanish airspace has been closed since Friday evening.

A great many Spaniards were preparing to leave Friday for a five-day long bridge, the beginning of next week being a holiday in Spain when, a wildcat strike broke out. Thousands of stranded passengers spent the night at airports, including the Madrid Barajas where only a few transatlantic flights have landed since the previous day. Many told that they had received no information on their flight, and filled at random sheets claim.A great many Spaniards were preparing to leave Friday for a five-day long bridge, the beginning of next week being a holiday in Spain when, a wildcat strike broke out.

Opposition to the maximum working time

Air traffic controllers left their jobs in late afternoon to protest against a measure adopted shortly before the Council of Ministers, peaking at 1,670 hours per year working time.

It was part of the device of partial privatization of airport management Authority (Aena) adopted by the government under new anti-crisis measures.

At Madrid airport, a sign warned in Spanish and English that "all flights are canceled until 10 am (9:00 GMT) because of the massive abandonment of their posts by air traffic controllers."Another passenger, Luis Garcia, 41, arrived in the night drive from Asturias, northern Spain, his flight was canceled Friday evening. "Many people slept in the airport," he said.

He was to leave for Shanghai via Zurich and was waiting at the counter of the Swiss company with a friend, Enrique Fernandez, 44, who took the same flight to Zurich and then went to New York."We miss our flight at a time and correspondence," remarked Luis.

(With AFP)

ka-sg/lbAgence AFP

Date 12/04/2010 10:03

The title still paralyzed air traffic in Spain

MADRID ESP Location

Keyword Spain Aviation Social tourism economy

Social Economy Class

Priority 4

Controllers' strike – Spain is considering the state of emergency

SPAIN-CONTROLLERS-GOVERNMENT (SPECIAL EDITION): Controllers Strike – Spain is considering the state of emergency

MADRID, Dec. 4 (Reuters)

– The Spanish authorities had threatened on Saturday to declare a state of emergency if the air traffic controllers on strike will not return to work.

"If the situation does not normalize, the government declared a state of emergency," warned Alfredo Rubalcaba, Interior Minister and Deputy Prime Minister, during an extraordinary Council of Ministers.

"The controllers will be requisitioned and if they do not return to work, the case will be forwarded immediately to justice and they will be prosecuted for a crime punishable by prison," he added.

Control of airspace is currently provided by the Spanish army. Air traffic controllers, whose walkout has affected 250,000 passengers, are in conflict with the AENA airport management to pay issues and working conditions. (Paul Day, Jean-Philippe Lefief for the French service)

AFP

Still paralyzed air traffic in Spain

MADRID, 04 Dec 2010 (AFP)

Spain-aviation-economic-social-tourism

Air traffic was still paralyzed on Saturday morning in Spain by a wildcat strike by air traffic controllers, with traffic virtually zero in the country's airports including Madrid, said the airport authority.

"The situation is the same as yesterday.There are no flights.Only transoceanic flights arrive at Madrid Barajas, "said a spokeswoman for Aena, adding that the situation was the same throughout the country.

The Spanish government announced Friday night that he confided to the military management of air traffic control because of the strike that had erupted a few hours earlier after a dispute over working hours.

Almost all of Spanish airspace has been closed since Friday evening.

An Extraordinary Council of Ministers is scheduled for Saturday morning and could declare a "state of alert," said Deputy Prime Minister, Alfredo Perez Rubalcaba, warning that air traffic controllers who will not show up at their workstations are threatened with prison.

The Spanish government ordered the military to ensure the air traffic control, announced last night the interior minister, Alfredo Perez Rubalcaba, after the walkout controllers that caused the closure of airspace.

"As representatives of controllers did not end their movement, we decided (…) activate the mechanisms in this kind of situation," said Alfredo Perez Rubalcaba during a conference Press.

"The chief minister (Jose Luis Rodriguez Zapatero, ed) asked the Department of Defense to control the direction of general air throughout the territory," he added.

This measure will be effective until "the civilian controllers returned to service as normal," he said.

The Chief of Staff of the army will take all decisions necessary for the organization, planning, supervising and monitoring the inspectors, "says Rubalcaba.

Air traffic controllers left their jobs Friday at 5:00 p.m. (1600 GMT), forcing the closure of most of Spanish airspace.

This closure occurs in full leaving for vacation of five days, the beginning of next week being a holiday in Spain. "This causes serious disruption of air traffic throughout Spain" and affects nearly 250,000 people, according to Aena.

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Areva dream of an IPO

The opening of Areva capital takes a new turn. The nuclear group will consider to use the Exchange to raise funds. Currently, Areva is listed in the form of investment certificates, which represent about 4% of capital. This part could be enlarged, according to Les Echos newspaper that quotes several representatives.

The Chairman of the Executive Group, Anne Lauvergeon, this track would have mentioned last week during a European group committee. The newspaper said two other scenarios have been identified to finance the huge investments to come: the rise of the Strategic Investment Fund (ISF) to capital and a merger between Areva's mining division and Eramet, the French producer of nickel and manganese, which Areva already owns 26%.

An Areva spokesman declined to comment late Wednesday that information cash advance no fax.

A six-year-old project

The idea of expanding the capital of Areva for the floating group of 4% to between 35% to 40% on the stock exchange was considered in 2004 before being abandoned. He resurfaced today in a context of difficult negotiations between the state, which holds more than 93% of Areva, and the three foreign funds may participate in a capital increase of the nuclear group: Qatar's sovereign wealth funds and Kuwait, and Japan's Mitsubishi Heavy Industries.

Anne Lauvergeon said Wednesday that it was not central to the negotiations around the capital increase of the group, referring to state decisions on the subject.

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