Sundial of world news

Treasury bills do not suffer from degradation of the note of the United States. Instead, rates remain historically low. U.S. finances are parties to drift, but investors have long known, and such a decision undermines their confidence in the ability of the United States to meet its repayments. "On the contrary, the threat of similar actions in other states has positive points: it encourages the ECB to carry more debt buyer of European public and invites States to precipitate the budgetary consolidation measures, which will strengthen intrinsic quality of government securities, "relativize Patrick Artus, Research Director of Studies and Natixis.

In fact, it is especially risky assets, which suffer from fears of contagion cuts ratings of sovereign debt.Evidenced by the plummeting global stock indexes following the shock announcement Standard & Poor's. Over the past five trading days, the Cac 40 lost almost 8%, and the index companies were affected differently. These are "primarily growth stocks" that have suffered the most, says Patrick Artus, "since the fall of 2400 billion over ten years the U.S. deficit will cost a point of growth the first year." Over the period, it is almost 70 billion euros in market capitalization went up in smoke.The equivalent (almost) the biggest company in France, namely Total!

Veolia has collapsed and literally (almost 30%) in just five sessions, within the scope of the panic that has shaken the markets, but the fall of its course is mainly attributable to the publication last week of very disappointing results, while the group left half of the countries in which it operates payday loan lenders.

For Natixis, "convinced that U.S. growth will remain weak for some time (+1.8% in 2011 and estimated 2.1% in 2012)," the companies directly related to the U.S. economy will remain permanently affected by the stroke of Soft in the U.S..This is especially true of automotive manufacturers and suppliers (Renault, Peugeot, Michelin, etc.). And IT companies (Alcatel-Lucent, CapGemini).

However, the decline in raw materials – oil fell below 80 dollars – which led to the values ​​of the construction (Lafarge, Saint-Gobain), mining or oil (ArcelorMittal, Technip, Vallourec) down in recent sessions, "should not last," said Natixis again: "The demand for commodities does not depend on the U.S. economy, but more and more of the Chinese economy, especially investment in China whose growth is weakly linked to the U.S. cycle and will remain strong. "From that side, the markets have overreacted and clearly.

As for the bank, the reactions were very different depending on the titles, which are differently exposed to the problems of sovereign debt.Societe Generale is one that has suffered most of the bad going on equity markets (down 21.7% of its stock price), while Credit Agricole has sold 13.9%, BNP Paribas, 7, 7% and Natixis, only 2.1%. However, the European banking index, the Stoxx 600 Banks, hit late Tuesday to its lowest level in two years. But overall, the French banks face the storm better than two years ago because they have strengthened their balance sheets.

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The world welcomes the U.S. agreement with relief. And sometimes with caution. France, through the voice of the Minister of Economy and the Baroin Budget Valérie Pécresse, on Monday welcomed the compromise that must still be voted in the Senate. "This is great news for the world economies, a very good news for the United States but also for Europe," said the minister.

Baroin for its part related to the Europe Agreement on Greece on Thursday and compromise between Republicans and Democrats: "All that has been implemented for two weeks three weeks, the agreement of the euro area on the issue Greek, the Washington agreement on the question of raising the ceiling of U.S. debt in the right direction. "These agreements" are going in the direction of the reinforcement of global growth, "he said, and they will" reaching consequences for global economy is recovering. "

Earlier in the night, Japan applauded the U.S. agreement. "We welcome the agreement on the U.S. debt and hopefully it will stabilize markets," said Chief Cabinet Secretary, Yukio Edano instant payday loans. The islands observed at the forefront of American debt crisis.It is the second largest holder of U.S. Treasuries, after China.

BlackRock prudent

It is not clear, however, that the announcement of Washington, as expected, calms markets. The largest asset manager worldwide, BlackRock, welcomed the plan cautiously. "The proposed framework for reducing federal spending is a positive step," said the fund in a statement. But "the exact composition and timing of all the spending cuts will determine whether the proposal produces a real and significant reduction of the deficit," he added.

Markets "need to perceive a clear path to deficit reduction to encourage confidence in the U.S. dollar," says BlackRock."This is essential if we are to retain the AAA rating of the United States and encourage long term investment."

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The NYSE was struggling to find a clear direction at the opening Friday, the day after net gains brought by the agreement reached in Europe on debt and as the market digested a series of results: the Dow Jones lost 0, 21% but the Nasdaq gained 0.25%. The Dow Jones Industrial Average gave 27.09 points to 12,697.32 points while the Nasdaq, dominated by technology, taking 6.98 points to 2841.41 points. The broader index S & P 500 fell by 0.04% (or 0.52 points) to 1343.28 points.

On Thursday, the New York Stock Exchange ended sharply higher Dow Jones gained 1.21% to 12,724.41 points, its highest closing level in over two months and the Nasdaq 0.72% to 2834.43 points .The broader index Standard & Poor's 500 rose 1.35% to 1343.80 points.

The announcement of a concrete agreement on the plan of aid to Greece, made shortly before the close of the U.S. market, has largely contributed to the surge in indices. In the U.S., investors remained optimistic despite the denial by a spokesman for the White House, press reports that a market was about to be reached with the Republican chairman of the House, John Boehner, to raise the debt ceiling. At 12 days of the deadline set by the Treasury, the Democratic leaders of the House of Representatives and the Senate have found for nearly two hours the president Barack Obama to the White House. The rating agency Standard & Poor's reiterated Thursday that there was a chance that two lower sovereign rating of the United States within three months.The downgrade could occur "possibly by early August" and could be "one or more notches," says the agency.

On the foreign exchange market, the overall relaxation of the Greek fire, which had once benefited the euro last Thursday, however, did not have a lasting impact on the European currency was stable against the dollar on Friday. At mid session on European markets, the euro was worth 1.4412 dollars, against 1.4417 dollars on Thursday night. In the wake of the announcement of the plan, the euro reached a peak Thursday at 1.4443 dollar. In terms of oil, oil prices start rising, supported by a European, but also by the announcement of the International Atomic Energy Agency (IEA), which has no plans to release a reserve again strategic.In morning trading, a barrel of "light sweet crude" took 28 cents to 99.41 dollars, after crossing at the meeting yesterday the 100 dollars. That of Brent North Sea took 23 cents to 117.74 dollars.

New round results

On the macroeconomic front, no major indicator is expected across the Atlantic. Investors should pay close attention to the results of the day. Starting with those of computer giant Microsoft has managed to achieve an increase of 23% of its annual net profit to 23.15 billion dollars, even though he suffered a slowdown in the IT market, felt by its flagship, Windows programs. The fourth quarter of fiscal shifted from Microsoft, completed June 30, exceeded expectations, with a 30% increase in net income to 5.87 billion billion.The turnover has meanwhile increased by 12% during the year to 69.94 billion dollars, including 17.37 billion dollars last quarter alone (8%). the title loses 1.93% to 25.87 dollars.

For its part, the U.S. manufacturer of AMD microprocessors without CEO since January, announced Thursday after the close of Wall Street have made a profit of $ 61 million in the second quarter against a loss of 43 million a year ago, to sales down 5%. The title takes off from 12.62% to 7.33 dollars.

Also note, the U.S. investment bank Goldman Sachs (0.07% to 135.67 dollars) has won a legal victory against the Australian investment fund Basis Yield Alpha Fund failed (BYAF) who accused him of have made a mistake in selling him a financial risk before the financial crisis.A New York judge has in fact refused to hear the complaint, citing a recent decision by the U.S. Supreme Court which ruled that U.S. laws on financial products do not apply to transactions made abroad.

The U.S. maker of memory cards Sandisk recorded 1.37 billion of revenue in the second quarter of this year, including 248.4 million dollars in net profits. Numbers higher than analysts' expectations. The title earns 7.73% to 44.82 dollars.

The pharmaceutical company Bristol-Myers Squibb (-0.32% to 29.46 dollars) announced Thursday that it has agreed "final" for the purchase of specialist treatments fibrosis Amira, a sum of up to 475 million. Under the agreement, BMS will acquire the entire share capital of Amira, which is not publicly traded, for $ 325 million in cash.Additional payments of up to $ 150 million could be made depending on the performance of the products currently developed by Amira.

The wiretapping scandal that is the empire of the waver media magnate Rupert Murdoch could seriously undermine the financial health of News Corp.. The rating agency Standard & Poor's has placed under surveillance the note of media group, currently BBB +. Investors welcomed this decision: As News Corp, which lost 4.32% yesterday even on Wall Street rebounds on Tuesday morning at the Sydney Stock Exchange, gaining 2.75% in mid-session.

Standard & Poor's is concerned about "the increased risk associated with the activities and reputation (the group) while the legal extend." The financial consequences of the scandal is already heavy for News Corp, which had to abandon his flagship project of redemption of all of the satellite channel BSkyB.And the rating agency believes that a tarnished reputation "may scare off customers or future, to lose opportunities and divert attention from the leaders." Now that reputation has been affected by "the amplification of the legal proceedings in Britain and the pressure from U.S. lawmakers for an FBI investigation," said the rating agency before turning to the resignations and the convening of several leaders for a hearing by the British Parliament on July 19.

In addition, the group management may be altered. According to Bloomberg, the Board would discuss the replacement of Rupert Murdoch as head of the group, despite the support the manager confirmed yesterday by a director, Tom Perkins.The Wall Street Journal yesterday, the CEO and founder of News Corp is considering himself to let go of the reins of his company for more than a year, giving way to Chase Carey, the current chief operating officer of group. The departure of Rupert Murdoch has also become a struggle for the collective LulzSec hackers, who hijacked last night a page of the website of Sun, directing users to a hoax article-which announced the death of the boss of News Corp.

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This time, the Fininvest will have to pay. The court sentenced him on Saturday appealed the group owned by Silvio Berlusconi to pay 560 million euros in the CIR group, owned by Carlo de Benedetti. The judges of the Court of Appeal of Milan have found that control of the publisher Mondadori, obtained in 1991 by Fininvest, to the detriment of the EIF through a favorable court decision, was made possible by the corruption of judge and lawyers involved. In 2007, the Criminal Justice had issued a similar notice, including the judge sentenced Vottorio Metta was stationed in nearly three years in prison.

On appeal, the Milan judges, however, reduced the magnitude of the financial penalty, determined in the first instance to 750 million euros.Unlike 2007, the decision will also be immediately enforceable: Fininvest will address 560 million euros in damages without waiting for the trial to the Supreme Court that the group should seek. "Our lawyers are already beginning to study the complaint," has indeed responded Marina Berlusconi, the eldest daughter of the Head of Government and president of Fininvest. This assesses the amount of the penalty "to double the participation of Fininvest in Mondadori."

Electoral setback and legal troubles

The Cavaliere had nevertheless worked hard to save the payment of such penalty to the group. Approaching the verdict, he did not hesitate to try to vote by Parliament an amendment to the Civil Code suspending sanctions in excess of 20 million euros on appeal, until the final decision of the court of Cassation.A measure to be adopted in the Bill ratifying the austerity plan. Faced with the outcry in the opinion of this measure, the Cavaliere has this week backed down.

This decision is more bad news for the chairman, who combines political defeats in recent months and legal troubles. Also implicated in the "Rubygate" Silvio Berlusconi suffered a severe mid-June electoral setback. The Italians have indeed overwhelmingly (over 94%) rejected four bills proposed by his government and put to a referendum: one devoted to the construction of new nuclear power stations, one on the privatization of water management by municipalities, and two providing legal immunity of ministers and the chairman of the board. Silvio Berlusconi, who announced Friday he would not stand in 2013, probably did not finish with the law.

This year, 12 million tax returns were made via the Internet, according to Bercy. Now a taxpayer in three (there are 36 million homes tax in France) chose the Web to meet in the spring of this task which then allows the tax authorities to calculate the income tax (IR) to pay.

Set up in 2002, the Electronic Filing is getting stronger year after year: 7.4 million followers in 2008, 10.5 million in 2010. This is due, among other things, the simplification of the system. In 2009, the State has decided not to ask for electronic certificate, which allows their returns from any computer. The IR, which is paid 53% of the 36 million tax households, reported 47 billion euros to the state in 2010.

After the accident nucléraire Japan March 11 Fukushima, who questioned the safety of nuclear power in the world, Areva intends to secure its investments by standing as a major player in offshore wind Thus, the group NUCLEAR he announced Wednesday morning that it has signed a strategic partnership with Iberdrola Renewables, a subsidiary of Spanish giant Iberdrola and world leader in offshore wind to meet the tender just launched by the French government. The project, detailed by Nicolas Sarkozy last January after being repeatedly postponed, for the first phase is to establish 600 wind turbines with an installed capacity of 3,000 megawatts (MW) in France. In 2020, Nicolas Sarkozy has described the goal of 6000 MW of offshore wind, or 1200 units to be built.The specifications of the tender will be published in July, two months behind schedule.

"Areva and Iberdrola are two major areas of the five selected for the first phase of the tender," said the French group said in a statement, without giving further details. The five development zones are located on the Atlantic coast and the Channel, between Saint-Nazaire (Loire-Atlantique) and Tréport (Seine-Maritime) easy pay day loans. According to the newspaper Les Echos, the areas of Saint-Brieuc and Saint-Nazaire are cited, and the two companies together produce between 500 and 750 MW of capacity. In addition, a construction group should join them "very soon".If the alliance was successful, Iberdrola Renewables will develop the project as it does in Germany or the United Kingdom while Areva exclusively manufacture and supply of wind turbines of 5 MW.

Recently, GDF-Suez and Vinci jointly responded to the tender which is a whole of 10 billion euros for zones of Dieppe-Tréport, Fecamp (both in Seine-Maritime) and Courseulles -sur-Mer (Calvados). While at the beginning of the year, Alstom and EDF Energies Nouvelles announced together to meet all of the tender.

This announcement could be the last made under the direction of Anne Lauvergeon whose term expires June 30 Luc Oursel then take the head of the Executive tomorrow, Thursday.

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Renault is working to revive its sales in Europe in 2012. The automaker, whose image was tarnished by the case of false intelligence to launch a "flurry" of new products next year on the old continent, said La Tribune.

Starting with the renovation of smaller models. The group of diamond brand and will revamp its Twingo "with a front face far more original," says the group business daily. No time to breathe, the group will then present its model for electric car Zoe in March 2012 at the Geneva Motor Show prior to the market at a price of 15,000 euros from August 2012.

Then, the Clio IV will land on the market. The aim is to produce 450,000 Clio IV year, said La Tribune bad credit pay day loans. The vehicle will be produced in Bursa in Turkey but also Flins, near Paris. The new Clio will replace the previous ones.

New Dacia

On the Dacia brand, the group plans to launch a "compact van." Then the manufacturer will present models of renewed Logan and Sandero. These vehicles will be sold under the Renault brand outside Europe and Africa.

In the longer term, in 2014, new small city car produced in conjunction with Smart (Daimler) will emerge. Twingo a third version, and a smart four-seater will be produced on a single platform based in Slovenia. The year 2014 should be the revival of high-end vehicles.

A race against time. On Monday, the French stage will present at the National Rugby Marcoussis, before the DNACG (National Directorate of assistance and management control) financial guarantees as to the survival of the Parisian club, after the fraud case linked Facem the Canadian Foundation (Foundation for the Improvement of children in the world).

Still two million find

The figure is known, the French stage has a deficit of 6 million euros to be filled Monday. Bernard Laporte would have found new investors. But after the spectacular failure of Facem, the pool of investors formed by the Englishman Richard Pool-Jones, former player for the club, has also been reactivated, with the help of Serge Kampf, CEO of Capgemini and a great patron of rugby French, and former international Jean-Pierre Rives.The DNACG, before which the Parisian club had already presented in May, is now more demanding, it expects 12.6 million euros in guarantees, in the amount that would normally Facem injected. The round of Pool-Jones would have raised 8 million – the amount initially met – and another 2 million could be saved by reviewing the operating mode of the Parisian club. Remains yet to find 2 million euros to avoid the gauntlet of the "financial policeman" of French rugby. The question is which of the two solutions will be chosen.

A bloated workforce that will have to degrease

Ironically, the missing 2 million in the plane of Pool-Jones correspond to expenses incurred in recruiting high-end by the French stage version which had Laporte on 20 million euros pledged by the Facem but are never arrived.

A total of 19 players have committed to the Paris Club, including the Argentine Felipe Contepomi, New Zealand's Byron Kelleher and Paul Sackey English no fax cash loans. The wage bill had increased to 8 million euros. Another nod, the signature of South Africans Mostert and Van Zyl was announced just minutes before the revelation of the scam. Tuesday afternoon, already aware of the shock, the agents were in turmoil, many trying to resettle their foals outside the capital. Obvious: we'll have to degrease the mammoth. Pascal Pape and David Attoub could rebound in Lyon, recently promoted to Top 14. Bastareaud, who wishes to engage with Toulon but is retained by Bernard Laporte, will get the proper output in the coming days. Mourad Boudjellal, the president of RCT, intention, however, take advantage of the situation. "The first thing that the French stage recovers.I prefer to renegotiate with Max Guazzini and Bernard Laporte in top form in this situation. I really do not want to take advantage, "he said Friday in Var Matin.

Laporte, a return that is like a slap in the face

It would revive the French stage, it could remain who precipitated his fall. Without money from the Facem (three related to this foundation have since been placed in custody), there is nothing. Former Secretary of State for Sport has played with fire. He has left € 170,000 under the guarantees. Salagoïty Francis, former president of the Bayonne where "Bernie" was a brief passage, drives the point home in South West: "Everyone will understand that my apprehensions were based on Bernard Laporte." The only way to bounce back is that the new rescue plan is adopted.In either case, it is rumored that Serge Kampf would not want to hear about it …

"To show a spirit of responsibility and sense of compromise." Nicolas Sarkozy has launched Thursday a solemn appeal to Europeans to save Greece. Whereas this morning in Berlin, the French president knows that he will deploy a wealth of imagination and persuasion to move Angela Merkel. While Athens, plunged into a financial and political crisis, is on the verge of bankruptcy, the Chancellor is considering a new excess wait. Faced with a sling in his majority, Merkel angers its European partners by raising the pressure: it insists on any new financial aid package Greek participation of private creditors to let them share the burden of German taxpayers.

Berlin's position, however, has eased somewhat in recent hours.The German government, which faces an end of inadmissibility of the European Central Bank (ECB), now would require a report in September of decision on an extension to Greece, initially expected at the European Council next week . Play for time when it is urgent to try to influence the debate: Berlin had already used this tactic in the first act of the Greek crisis, in May 2010, reluctant to put their hands in the pocket for Athens.

Participation binding

The Europeans have accepted half that request. The Commissioner of Economic Affairs, Olli Rehn, said that measures should ultimately be decided at the Eurogroup of 11 July. In the meantime, to ease the burden a little Athens, Europe could decide to release the funds promised for July."I am confident that next Sunday the finance ministers of the euro area will meet in Luxembourg will decide on the payment of the fifth tranche of loans to Greece," said Olli Rehn. This band represents just under 8 billion that would normally add 3.7 billion paid by the IMF. The fund has remained vague about his intentions, while suggesting a hint that it will participate in this effort absolutely free credit score. "We are ready to continue to support Greece if the Greek authorities take the economic measures promised," said his spokesman, in Washington.

Save time is to enable Europeans to reach a compromise on how to involve private creditors in aid to Greece. Paris insists that nothing be done that goes against the opinion of the ECB, which guarantees the stability of the euro.But in Berlin, the German government does not hide his irritation with respect to the ECB, which usually defends tooth and nail independence. The European monetary institution insists that the private creditors of Greece are known as a "voluntary basis" to grant a stay in a country where the rating agencies expect the bankruptcy. It is far from enough in the eyes of members of the center-right coalition of Merkel, where such participation must be mandatory. To ensure the support of the Bundestag increasingly looking to the funds of Germany, the federal government requests that all creditors are asked to exchange their shares against the Greek bonds at longer maturities.For the ECB, such an exchange would mean forced to recognize that Athens is in default.

Italy's Mario Draghi, who will fall over from Jean-Claude Trichet, head of the ECB, had his baptism of fire on Thursday night in Berlin, during a meeting with the Chancellor in which he was trying to find a solution to the dilemma German. For the Chancellor, it was however only a first round: she will spend three hours today with Nicolas Sarkozy to find a compromise.

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