Obama gives assurance on Wall Street

The speech Barack Obama optimistic on economic prospects of the country begins to lighten the mood in the U.S. markets. The stock market indicators began to return gradually in the green, particularly reassured by the employment figures. At 18:50 Paris time, the Dow rose 0.89% to 11,485 points and the S & P gained 0.60% to 1207 points, the Nasdaq remains hesitant, remaining balance (0.02%) to 2256 points.

U.S. markets also appreciate the market rumors to the effect that the European Central Bank is ready to support the Italian and Spanish bonds, if these countries to undergo structural reforms.

The employment figures dictate trend

The announcement of a significant improvement in job creation last month seems to calm the situation on Wall Street Friday after a collapse in U.S. up over 4% yesterday.In recent weeks, disappointing publications on the state of the U.S. economy had, in fact, chained, challenging the idea of ​​resumption of the world's largest economy. This publication confirms the figures released Wednesday by ADP, reports of more new jobs than expected for the month of July.

At 21 hours the numbers of U.S. consumer credit for the month of June will end this week full of macroeconomic data.

Oil and euro pressure

Oil prices climbed hesitantly at the opening Friday in New York, despite the employment figures better than expected, as the market wondered if it would be sufficient to support the demand for crude in a very fragile economic environment .On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for September delivery was trading at 87.04 dollars, up 41 cents from the previous day.

This concern also weighs on the currency front, the euro was trying to rebound against the dollar but remained under pressure from macroeconomic concerns.To 15 hours in Paris, the European currency was worth 1.4224 dollars against 1.4106 dollars on Thursday night, after falling to 1.4055 dollars in early Asian trade, its lowest for three and a half weeks instant payday loan.

AIG, GM and Procter & Gamble publish their accounts

On the corporate side, the semi-annual publications still dominate the news on Friday.

Thursday evening after market, the insurer AIG (-0.23% to 26.34 dollars) announced a return to the green of its accounts in the second quarter, with net earnings of $ 1.84 billion over the period, against a loss of $ 2.7 billion a year earlier. Per share, net income totaled $ 1 ($ 0.69 after tax, against $ 0.92 expected by analysts).

At the same time, and its first quarterly since its IPO on May 19, LinkedIn (-2.27% to 93.36 dollars) was positively surprised markets by announcing a turnover more than doubled the second quarter to 121 million dollars (120 euros) and net profit (4.5 million), where analysts expected a loss.

GM Motors (1.27% to 26.32 dolars) Thursday reported quarterly results exceeded expectations, with a near doubling of profits over the period.

Procter & Gamble (1.78% to 60.64 dollars) released before market on Friday for the fourth quarter of fiscal offset, net income up 15% to $ 2.51 billion.Of 2010-2011, so it shows a net profit of 11.79 Annual Statement billion, down 7% from the previous year.

Viacom (3.55% to 53.17 dollars), the parent company of MTV and Comedy Central, has reported a rise than expected in earnings thanks to strong revenue growth in advertising Cable and license agreements with websites. Its quarterly results (Q3) increased to $ 574 million against 432 million

Bank of America (1.70% to 8.98 dollars) is highly exposed to the most fragile countries in the euro zone, according to a document from the bank. The group said exposure to the tune of $ 16.7 billion (11.8 billion euros) in total to Greece, Ireland, Italy, Portugal and Spain in June 30Management has indicated in a document submitted to the regulatory authorities that its losses could reach up to legal $ 2.3 billion in addition to the provisions already passed for this purpose.

La Bourse de Paris brings out the 3800 points

Rain of bad news and stock prices in free fall: markets reconnect with painful memories. Investors reacted badly because the new rescue plan for Greece: after being disturbed by an incident technique over an hour, the Cac 40 closed the session on a drop of 0.63% to 3799.66 points .

Featuring Dax index of the Frankfurt Stock Exchange was down 0.19% to 7150.21 points in closing. For its part, the London Stock Exchange lost 0.38% to 5693.39 points.

In Milan, the stock market fall of 2.01% at 19,692 points after the warning from the rating agency Moody's on Friday night. The agency said Friday it planned to lower the debt rating of Italy, currently set at "Aa2."The agency said the risks to growth, financial markets and the government's ability to reduce the deficit.

The plan does not relieve the Greek market

Despite a new rescue plan for Greece launched last night by finance ministers in Europe, markets remain worried and disappointed: "Investors continue to demand a quick solution is not the working time of European political authorities. The difficulties in finding compromises will continue to maintain the highest concern, "warns one at CM-CIC. After the reassuring words of French and German leaders who have displayed a welcome unity Friday, the firm tone adopted by the ministers said that the issue will be very long to resolve.The central bankers in the eurozone have defined the conditions of payment of a further tranche of loans in July, but the finance ministers of the euro area indicate that the release of the loan must be accompanied by the vote of a new plan of austerity and privatization by the Greek Parliament. Banks and other private creditors and participate in this new plan. However the contours of that plan remains to be defined.

In an interview with The Tri bune, the Belgian Finance Minister Didier Reynders compare failure of Greece to the bankruptcy of Lehman Brothers. He said the risk of contagion is real."If Greece was the first to default, then the looks would turn to other countries such as Ireland, Portugal, Spain, Italy, Belgium can be but also France."

On the currency side, the euro rises gently sloping against the dollar: the time of closing in Paris, the single European currency was worth 1.4315 dollars against 1.4301 dollars on Friday night. In addition, oil continues to fall sharply, quoting under $ 92 in New York.

The banking sector still suffering

The banking sector suffered the brunt of the growing concerns over the Greek debt and the risk of contagion to other countries in the euro area.Natixis lost 1.52% to 3.50 euros, Axa loose 1.32% to 15 euros, Crédit Agricole drops 0.99% to 10 euros, BNP Paribas was down 0.86% to 51.75 euros, Societe Generale de 0.83% to 38.76 euros, excluding CAC 40, Dexia yield 2.24% to 2.22 euros.

All eyes are turned to the Paris Air Show, which opens Monday. Bad news for Airbus (parent company: EADS: -0.84% ​​to 21.26 euros) last night, an incident of a private Airbus A380 giant aircraft flight, the aircraft had struck the wing a building while it was towed to the taxiway of the airport. But a Korean company has agreed to lend one of its A380 for the demonstration. Boeing, he launches the new version of its popular 747 jetliner, highly anticipated. Both manufacturers have launched the traditional race for orders.

In addition, the CEO of EADS, Louis Welsh, said the sale of 22.5% stake held by French and German states could be done without exposing the group to a hostile takeover, note leFinancial Times. Louis Welsh evokes an existing structure "extremely hard" for the development of the company.

NYSE Euronext (0.11% to 23.28 euros) announced Monday in a statement the actual launch on July 11 of the first platform for bond trading companies in Europe, the project has given the go Green of the Financial Markets Authority (AMF).

Areva (-3.91% to 25.53 euros) / EDF (-0.84% ​​to 25.96 euros). According to reports in The Tribune, Nicolas Sarkozy has warned a week ago the CEO of EDFHenri Proglio the departure of Anne Lauvergeon.He finds himself in a strong position.

Saint-Gobain (-0.77% to 41.42 euros) received a volume of orders representing 90% of the shares Verallia proposed under the IPO of its subsidiary in glass packaging, said Monday two Sources close to the operation. Saint-Gobain has set an indicative price between 29.50 and 36 euros per share for the IPO, and hopes to draw 958 million euros from the sale of 40% Verallia.

Sanofi (-0.71%, to 52 euros) An investigation into a corruption case involving employees of the pharmaceutical group in Germany was opened, said Sunday a spokesman for prosecutors in Verden. "Sanofi confirms that there is an ongoing investigation and that he will cooperate with the authorities related to this investigation," said his side a spokesman for the group.

PSA Peugeot Citroën (0.10% to 29.03 euros).The mayor of Aulnay-sous-Bois (Seine-Saint-Denis), Gerard Segura, announced Friday it had requested an appointment at Industry Minister Eric Besson for clarification on the future site of PSA Peugeot Citroën.

Publicis (0.01% to 38.29 euros). The French group bought the Chinese Genedigi, specializing in public relations, events and digital marketing, with about 400 employees, for an undisclosed amount, he said Monday.

"CONTEST: Estimate the Cac 40 in late June

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Market movements in the outhouse

The lines are moving among specialists support the addiction. Fifteen months after its IPO, the third French player in specialist nursing homes and care facilities on, saw the arrival of a new shareholder in its capital. A shareholder not quite unknown in the health sector, far from it, because it is the family holding Ruggieri Batipart already shares amounting to 23.8% of Korian the second major player side sector.

In a statement, said Batipart have acquired from the BC Partners Funds 9.5% stake in Medica. For this, the holding company has spent about 72.5 million. BC Partners, who wanted to disengage from Medica via IPO in February 2010, also sold 18.6% of the group Medica Covéa (mutual insurance: MAAF, MMA, GMF, etc.)..Following the transaction, BC Partners, which had already reduced its stake in March by selling 14.6% stake, holds longer qu'environde 3% of specialist care dependency.

An opportunity to 'rare'

For this operation, Batipart take this particular situation of the round table Medica. "It is rare to have such a big business opportunity in health," says Nicolas Ruggieri, associate director of Batipart. This entry to the capital allows us to strengthen the sector, the second major strategic Batipart, with real estate. " Among the other listed companies, a withdrawal of investors with holdings as large as that of BC Patners (30.5% at the time of the introduction) is indeed unusual.Since health is seen to hold for the long-term investments are generally in the same same horizon.

Investors semblainet share this enthusiasm Thursday in the Paris Bourse, clinching the title Medica 3% in early trade, to 15.3 euros. "This is clearly a long-term investment from Batipart, says Nicolas Ruggieri." Remains to be seen what position to adopt the new entrant later and wants to eventually take over his new participation. "We do not exclude us strengthen, says Nicolas Ruggieri, but we will not do so significantly, if at night floating Medica, who at nearly 55%, is one of the major advantages of this investment" . Today, the largest shareholder Medica is the life insurance company Prédica, with 11.3% of the round.

Side Medica, little reaction on the operation."The arrival of a new shareholder, a priori known for its investment over time, can only be a good thing," confined to explain Bailet Jacques, CEO of Medica. The group should issue a statement in the morning.

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Lagarde supports China to head the IMF, according Baroin

New support for Christine Lagarde, and not least! China second largest economy, would support the candidature of the French Minister of Economy to the Director General of the International Monetary Fund (IMF), according to the Budget Minister Baroin, interviewed Tuesday on Europe 1. Even if it is not always a candidate, Christine Lagarde is indeed one of the favorites to take over from DSK, who resigned last Thursday, charged with attempted rape and sexual assault.

"What is taking shape, it's a European consensus, which is important" given the current crisis of debt in Europe, said Baroin."But you will understand, in-enu circumstances of the resignation of IMF Managing Director and there is no national pride in this case, it is not for France to position themselves first" , he immediately said, adding not know the position of Barack Obama on the subject.

The Tapie affair "not worried"

"If a French man or woman may, in its name, set a European consensus supported by the Chinese, and eventually by the Americans, we can only welcome it," he said. But we do want to address any action that could be interpreted as a form of defiance vis-à-vis emerging markets and no sign of arrogance gesture in view of special circumstances. "

For the budget minister, he is "still too early to tell" if Christine Lagarde is a candidate to head the IMF.As for Tapie affair, in which the Minister of Economy is suspected to have intervened to mediate the case between Bernard Tapie and Crédit Lyonnais, "we are not worried by this case," assured Baroin. If Christine Lagarde was to leave for Washington, it could well become the new tenant of Bercy. "A decision for the President of the Republic, however, has merely responded Baroin.

Not "economic immigration"

Reacting to the Interior Minister Claude Gueant, that France "does not need bricklayers, waiters in restaurants" immigrant because she has "the necessary resource," said Baroin it was a "statement of common sense:" I remind you that France is a country in Europe which has one of the strongest demographic.(…) We have 100,000 people in ascorbic under the economy and we do not need an import economy and therefore of economic migration. " The minister noted the number of job dissatisfaction in the building and restoration, "a ratio of 1 to 4 or 1 to 5", he said.

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Virtual operators have built a true position

On Monday, the Post Office is officially launching its own mobile phone service for individuals, known as La Poste Mobile. Launched via the SFR network, it provides another example of diversification into telecoms. The opportunity to take stock of the growing power of these operators without their own network, but both rely on niche marketing and / or community to get a place alongside the historical giants such as Orange , SFR and Bouygues.

• What is a MVNO?

The acronym stands for MVNO Mobile Virtual Network Operator. Translated by "mobile virtual operator" or "no operator's own network," he means an operator who does not have spectrum or infrastructure.Appeared in France in 2005 to deregulate the telecom sector, so these new actors use an existing network, content to buy from the incumbent operators (Orange, SFR and Bouygues) of the minutes of their telephone then sell to their customers under their own brand, and to freely set their rates. The lack of investment, extremely heavy to develop its own network, allowing them to offer more competitive rates of around 15% to 30% depending on the offers. However, funding for equipment (reimbursement of part of the phone purchased at the time of signing the Contract) is often low or even zero. Hence the overall time commitment shorter than big operators.

• Who are the main MVNO?

According to the criteria Arcep (Regulatory Authority for electronic communications and postal services), are considered only MVNO operators virtual assets is not controlled mainly by a network operator. The first, and one of the oldest among them is Virgin Mobile, which uses the Orange network and accounts for about 2 million customers after a gain of 161,000 customers in the first quarter of 2011.Other MVNOs independent, we find NRJ Mobile, Omer Mobile (Virgin Mobile, Breizh Mobile, Mobile Casino, Mobile Tele 2) Afone, Auchan Telecom, Carrefour Mobile, Coriolis Telecom … According to Arcep, MVNOs controlled by operators network are German Debitel (SFR), Mobisud (SFR), Ten (Orange) and Neuf Cegetel (SFR).

• What is their weight against incumbents?

According to the latest figures from Arcep, the market share of these operators has reached 8.4% in the first quarter of 2011, 5.294 of customers / lines, against 7.5% a quarter earlier (4.7 million customers / lines). A jump rarely observed, partly due to terminations "without charge" offered by the incumbents when the VAT hike in telecom.In the first three months of the year, Orange, SFR and Bouygues have lost about 542,000 customers, cons 566,000 SIM cards earned by virtual operators. Long, these MVNOs have struggled to take off, remaining stuck on the 5% market share. In France, the number of virtual operators is generally the average of other European countries, but their relative weight remained below the European average (13%). To observers, the weight could quickly exceed 10%.

• Why market share has it difficult to take off?

At first glance, this growth remains weak. However, "at the time of their appearance there are 4 or 5 years, we would not bet on this rate of progress," an expert analysis of the sector.For cause, "the mobile market is marked by a certain inertia, with only 25% of subscribers who switch operators each year, for, most often spend an incumbent to another."

Especially since the captive customers of Orange, SFR and Bouygues is accentuated by long periods of time commitments (usually 12 or 24 months). With growth in the number of subscribers increases by a further 3 to 4% per year, "at the end, the MVNO capture each year between 9 and 10% of gross new subscribers," concludes the analyst. "In five years they have managed to build a position not so bad, with marketing means much more limited than those of larger operators."

• MVNOs are they a threat to Orange, SFR, Bouygues?

Certainly, the presence of these players has driven prices down, in a market long remained oligopolistic.However, network operators also have an interest in the existence of MVNOs, praising them as their network, and offering some of their services (voice, customer service …) they optimize the use of their infrastructure. They can also grow rapidly in population or niche clientele where they are still very present.Some MVNOs have indeed relied on population categories (geographic, cultural, ethnic, business, etc.). By taking control of the MVNO, the incumbent attracts new customers with offers less traditional but particularly well adapted to a particular population segment.

• The licensing 4G is it good news for these operators?

The terms of the call for tenders launched May 16 by the Ministry of Industry for the licensing of fourth generation (4G) to exploit frequency at very high speed, was a priori well received by MVNOs. They consider that the division of lots allows small operators to try their luck. However, unlikely that one of them decides to enter only the dance.Eric Besson, Minister of Industry, Energy and the Digital Economy, believes that "nothing prevents the entry of a fifth mobile operator (with Orange, SFR, Bouygues and Free ). But technically and financially, the operation would be a miracle.

"The ticket to a single lot on the frequencies in the 2.6 GHz band is 150 million euros, said an analyst in Paris. Now, a new entrant can hardly afford a single lot, as it would soon be limited in terms of throughput, and therefore very little competitive. " Moreover, beyond the high price of lots, the acquisition of licenses from a new entrant assumes that subsequently develops its own network, and thus it furnishes a hand in his pocket. For example, Free, who began to build its own 3G network after obtaining his license two years ago, has estimated its capital to 1 billion euros over five years.And this just for the antennas. Unless several MVNOs together to diversify the sector with network operators, only Free seems to be able to shake the current landscape.

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The Tokyo Stock Exchange remains in the red

The Tokyo Stock Exchange is in free fall since last Thursday. In nearly four sessions, the Nikkei 225 has lost more than 3%, while trying to get closer to 10,000 points again he had reached a little over a week earlier. On Tuesday, the Japanese stock index was down 0.12% at 9546.75 points, after the downturn on Wall Street Monday night.

TEPCO continues to plunge

In the absence of macroeconomic indicators or outcomes of heavy odds, the Nikkei does not take advantage of the decline of the yen against the dollar, the greenback rising 0.41% to 81.18 yen. The uncertainties surrounding the euro area after the arrest of the International Monetary Fund boss Dominique Strauss-Kahn, as always worry investors.

On the corporate side, the operator of the nuclear power plant, Tokyo Electric Power (TEPCO) collapses from 11.42% to 372 yen, its lowest in a month and a half.According to Standard & Poor's on Friday, the U.S. rating agency Moody's also downgraded one notch from TEPCO (Baa2). This rating qualifies the issuers considered of average quality but still able to meet their deadlines.

Investors replay the energy sector in Shanghai

In China, financial markets operate in an uncoordinated manner. If the Hang Seng in Hong Kong following the downward trend in Tokyo, falling from 0.11% to 22,935.80 points, the ISC Shanghai climbed from 1.07% to 3133.53 points supported by the energy sector is highly prized by the investors who profit from the decline of oil. China Shenhua Energy climbed 3.47% and to 28.6 yuan.

Oil prices are actually trending down Tuesday in electronic trading in Asia on demand concerns continued to affect the market, dealers said.In morning trading, a barrel of light sweet crude for June delivery declined 27 cents to 97.10 dollars. That of Brent North Sea also June delivery yielded 30 cents to 110.54 dollars.

Mixed trend in other Asian financial centers

On other Asian financial centers, the trend is mixed. The Taiwan TAIEX edges up 0.18% to 8927.40 points, the S & P / ASX 200 gained 0.59% in Sydney to 4677.60 points and the KRX 100 of Seoul is stable at 4464.54 points. In contrast, the BSE Sensex 30 Bombay declined from 0.14% to 18,320.20 points and the FTSE Straits Times is 0.86% at 3136.48 points.

DSK's arrest revives the debt crisis in Europe

While the Director General of the International Monetary Fund, Dominique Strauss-Kahn, was charged with attempted rape and arrested in the U.S. yesterday as investors worried about the turn that will take the debt crisis in the euro area, especially in Greece. The indictment of Dominique Strauss-Kahn ally of Prime Minister of Greece George Papandreou, arrived in effect at the worst time for Athens. The IMF chief would have had to go in Berlin on Sunday and meet Angela Merkel to discuss a possible new aid to Greece, who won the spring of 2010 using a 110 billion euros, 30 billion from the IMF.This meeting was to take place on the eve of a meeting of the Eurogroup, the Monday night and Tuesday in Brussels, with the main discussions at the agenda of the financial problems that resurface Greece for several days and plaguing the markets, concerned about the risks of bankruptcy of Greece, and the possible contagion to other countries of the euro area.

The IMF will be well represented at the meeting of the Eurogroup, the deputy general manager of operations, Nemat Shafik, who was missionnée to attend. But analysts say the IMF's support to Greece is not as steadfast as Dominique Strauss-Kahn took the reins of the institution.Thus, Eswar Prasad, an analyst at the Brookings Institution told the antenna Bloomberg: "The assumption was that as Dominique Strauss-Kahn remained at the head of the IMF, the institution has not dropped in Europe and continue to support the continent. But the departure of Dominique Strauss-Kahn casts doubt on the intentions of the IMF. "

The IMF board will meet on Monday

Immediate consequence of these doubts, the euro fell to 1.4056 dollars in Tokyo Monday morning, 1.4108 against the dollar in New York Friday night. Against the yen, the European currency eased to 113.61 yen against 113.99 yen.However, shortly after after the opening of financial centers in Europe, the single currency has regained some color, displayed a very slight increase, to 1.4131 dollar.

For its part, the IMF has tried to be reassuring, saying yesterday that he remained "fully functional and operational," after stating that John Lipsky, IMF number two, will the Interim Director General of the institution the time required. The institution must meet its board of directors on Monday to decide the fate of its president at its head.Originally scheduled yesterday the appointment was postponed, the council waiting for new developments to make its decision in this situation that observers deemed "not simple".

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The euro soar to $ 1.48

Shortly after the press conference eagerly awaited the U.S. central bank, the euro resumed its advance against the dollar. While the Federal Reserve Chairman Ben Bernanke indicated his willingness to continue to support the resumption of U.S. growth, the greenback fell to its lowest level since the summer of 2008 against the six major international currencies. Yet the Fed chairman has assured that a "strong dollar and stable in the interest of the United States and the world."But nothing helps, the euro climbed to nearly $ 1.48, its highest level since December 2009 and as the dollar rose against the yen at 82.15 yen 81.55 yen against Tuesday night.

"The changes introduced by the limited material provided by the Fed gave the green light to return to the market trends of recent times, that promote risk-taking (purchase of raw materials, investment in emerging markets)" financed by the back of the weak dollar, noted Alan Ruskin, Deutsche Bank.

On the other hand, the Fed chief has not given any indication of possible rate hikes in the short term, while most major central banks, like the European Central Bank, are engaged in cycles monetary tightening.Thus, the "carry trade" – a strategy arbitrage between interest rates of different currency areas – continue to make the procurement law and penalize the dollar.

Meanwhile, shortly after the speech by Ben Bernanke, gold has reached a new record at 1530 dollars an ounce and silver has it surpassed the $ 50 an ounce.

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Undermined and criticized, Carlos Ghosn remains difficult to replace a CEO

Apologies for the Renault group in respect of executives dismissed unfairly, the promises of profound internal reorganization change nothing. For the second French car manufacturer, this case is a huge fiasco that weakens the iconic Carlos Ghosn and more the group he heads mercilessly for nearly six years.

The damage from what appears to be a scam rather than industrial espionage are considerable. Internally, particularly in Guyancourt Technocentre, southwest of Paris, the company is in shock. Thousands of employees found that their management may dismiss, wrongly and with violence, promising executives or confirmed. That this direction has been trapped, presumably by one person of the security service, without being able to detect the scam.Outside too, the great unpacking damaged the image of Renault, even though car registrations do not feel it yet. They remain very strong thanks to strong sales year-end, before the case broke.

The company turned

These jerks are even worse they come after several turbulent years from the manufacturer. Upon his arrival in 2005, Carlos Ghosn promises to radically change Renault. In its first three-year plan "Renault 2009", he made three promises: hoist the Laguna on the European podium for quality, increase the operating margin to 6% and sell an additional 800,000 cars. Nobody dares to doubt the success, as the image of the savior of Nissan is strong in the automotive world.

To achieve this, it puts the company on. Too, surely.Occurs a wave of suicides Technocentre Renault leads to a reorganization of work to try to reduce the stress involved 12,000 workers. The skipper lay a little pressure. First alert.

On the front of the models, the Laguna is actually recognized for its quality, but this car lines without personality is shunned by buyers. In reality, the real success of Renault Carlos Ghosn is the low-cost Logan, the Sandero and the Duster. By adding to the growing share of small Twingo and Clio models, the manufacturer is faced with an unforeseen problem: its relationship with the French state holds 15% of its capital.

Away in France

To be profitable, the builder is indeed pushed to produce these cars cheap outside France.A transfer of production which will eventually trigger a resounding clash with the government in the affair of the Clio Renault 4 that would occur in Turkey at the expense of the French plant Flins. Carlos Ghosn is urgently summoned to the Elysee. Renault backtracked, but the image is tarnished. The CEO is suspected of having a world view and away from France. Second warning.

Recent years have also been marked by the global crisis, which hit the car head-on. Short of money in late 2008, the builder is on the brink of disaster. Third alert. Carlos Ghosn is negotiating with the state emergency credit line of EUR 4 billion (PSA received the same amount). Finally, the manufacturer recovers, the crisis passes and recorded a dramatic rebound. In 2010, Renault announced 2.6 million cars sold, a record.But we are very far, either in terms of sales and operating margin, promises of Renault Commitment 2009.

The alliance between Nissan and Renault

Carlos Ghosn, however, has never really suffered from the failure of this plan. Observers prefer to retain only its success. For many, the alliance between Nissan and Renault is a success that has continued to grow in recent years. Nissan, still led by Carlos Ghosn, is in great shape. The Japanese manufacturer, strong in the United States, China is number three, ahead of Toyota. The choice of Renault to enter the capital of AvtoVAZ, famous for his Lada, is considered very promising. The recovery of Renault Samsung Motors in Korea is real. Finally, Dacia is one of the greatest automotive success of his last years.

Although much criticized today, Carlos Ghosn still has good assets.The first is to embody almost alone the future of two automotive giants. In recent years, the manager focuses much of the resources of Nissan and Renault on the electric car. For Renault, this strategic choice is already 4 billion euros of investment. This story is only beginning. The first Nissan electric marketed since late 2010 in Japan and the United States. The Renault Zoe arrive later this year. Not easy in these conditions happen to Carlos Ghosn. The directors of Renault know this.

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Housing: rents rose 2.5%

The consumer association CLCV it was moved to September. If they confirm the acceleration of rent increases in 2010, figures released Tuesday by the observatory, however, are considered Clamor by experts as moderate compared to the surge of the early 2000s.

In 2010, rents for new leases and renewals of leases in the private park have increased on average by 2.5%. "This modest increase in the rents-called market-is above inflation (1.5%) but remains below the annual average (+3.2%) recorded since the establishment of this observatory in 1998," says Mouillart Michel, professor of economics at the University of Paris X, and author of the study. Above all, it follows three years of dormancy. Rents had increased by 2% in 2007 and 1.6% in 2008 before stagnate (+0.1%) in 2009.A downturn that resulted directly from the surge in previous years. In 2000, the annual growth rate reached 6.5%.

The studios in mind

In 2010, the rent of "market" has averaged at 12.3 euros per square meter. However, prices can go down to 3.5 euros/m2 or climb up to 54 euros/m2. The studios are always more expensive, 16.4 euros/m2 average, while the 5 rooms or more have average rents of 9 euros/m2. Waterfront also plays. It is in Lorraine (+ 3%), in Central (+3.4%), Ile de France (+3.3%) but especially in Picardy (+ 4.9%), Limousin (+ 5.2%) or in the Nord Pas de Calais (+5.8%) as rents have suffered the highest inflation instant credit report. The towns of Montreuil, Seine-Saint-Denis (+7.4%), Villeurbanne in the Rhone (+ 7.3%) of Rueil-Malmaison in Hauts-de-Seine (+6.8%), or yet Lyon (+5.9%) experienced dramatic increases in rents.In comparison, the capital took only 3.2%, while Cannes and Neuilly s / Seine saw the rent down.

Rising rents are much higher when the owners recover their property on the market after the departure of former tenant. It has reached 5.6% in 2010. The completion of work before the delivery of goods on the market also has an impact. Rents increased by 7.9% and in case of improvement, housing, 3.8% for routine work. The price sometimes may even decrease (0.3%) if no work is done without any rehabilitation. According to the observatory is the case for 25% of housing provided for rent.

For tenants, the trend is the same.The benchmark rents (IRL), which is the basis for the revision of rents, won 1.45% in the fourth quarter of 2010, its biggest gain in almost two years.

For 2011, the increase, mainly due to increased mobility of the French after the economic crisis and lack of housing in the most dynamic regions, should be "comparable to that of 2010, or about 2.5% says Michel Mouillart.

(With AFP)

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