Sundial of world news

The Paris Bourse has continued to widen its losses on Friday. After an opening down 1.19%, the CAC 40 slipped 3.5% in response to the publication of U.S. employment figures earlier this afternoon. Then the index was down enccore in the red, losing up to 4% just before 17 hours. Finally, the CAC shows a significant decrease of 3.59% to 3148.53 points. No value of CAC has been able to climb into the green on Friday. For the week, however, the Cac 40 shows a gain of 1.97%.

Elsewhere in Europe, the Milan Stock Exchange closed on a fall of 3.89%. In Frankfurt, the Dax lost 3.36% at the final bell and the FTSE in London fell by 2.34%.The European indexes have been sealed by banking stocks, which still suffer from concerns over European debt, including the stalled talks in Greece.

Thus, investors have been cooled by zero job creation in August in the United States. In July, the first estimate of recruitment was greatly scaled down from 117,000 jobs created to 85,000. The unemployment rate remained steady at 9.1%, as expected. "The labor market is expected to remain sluggish in the medium term and the unemployment rate should rise slightly or remain at its current high level" of 9.1%, says Inna Mufteeva at Natixis.This publication reinforces the eyes of experts, the probability of a new monetary response from the U.S. Federal Reserve at its next meeting on September 20 and 21.

In addition to the waits before publication of the report, traders were disappointed by yesterday's U.S. indexes mixed. The weekly jobless claims have fallen and certainly the contraction was avoided in the manufacturing sector, but construction costs and productivity plummeted. In addition, the White House confirmed the pessimism about the weakness of the recovery across the Atlantic in scaling back its growth forecasts.

Euro stable

On the foreign exchange market, around 17:30, the euro 1.4207 dollars, against 1.4260 on Thursday, its lowest level in three weeks.Yesterday, the euro had fallen sharply under the impact of renewed concerns vis-à-vis the health of the euro area, where industrial activity contracted in August, unlike the United States.

In France, higher energy costs caused a 0.5% increase in producer prices in July in the euro area, as expected, but overall inflationary pressures subside to the extent that the area economy patina.

The bank collapse

Fear seizes even Greek European banks. The establishment of a second aid plan seems to be complicated. The troika of creditors of Greece left Athens Friday, giving the government 10 days to advance structural reforms in the country, weighed down by a recession that will prevent it from holding its budget savings target.In Paris, Crédit Agricole fell 7.38% to 6.65% Societe Generale, BNP Paribas and Axa of 6.24% to 5.73%.

Arcelor-Mittal: -6.10% to 14.17 euros

The group plans to resort to short in the fourth quarter at its plant in Florange (Moselle), and will ask 600 of the 3,000 employees of the plant to take RTT in September, officials said Thursday a union source

Total: -2.69% to 33.40 euros

The oil will extend all over France its network of service stations at low prices, after tests conducted last year in dozens of outlets, according to Les Echos.

France Telecom: -2.37% to 13.17 euros

The operator has received numerous expressions of interest for its Swiss division, told Reuters CEO Stéphane Richard, noting that financial market volatility would not affect projects sales of assets of the group.

Bouygues: -2.14% to 25.61 euros

The Standard & Poor's announced that it placed the long-term rating of A-group under review with negative implications following the announcement by him of a proposed acquisition of securities.

Sanofi: -3.25% to 49.75 euros

The group confirmed Thursday it has reached an agreement with Pfizer to produce in France generic versions of Lipitor, the cholesterol featuring the American group.

EDF: -3.23% to 20.95 euros

Goldman Sachs has revised down its price target on the title, which goes from 49 to 31 euros, while remaining on the purchase value.

Carrefour: -2.83% to 17.66 euros

HSBC lowered its recommendation to "overweight" to "neutral" and target price of 30.50 to 20 euros.

Stallergenes: – 0.81% to 49 euros

The laboratory of immuno-allergic Thursday announced a net profit up 18% in the first half to 23.7 million euros, benefiting from the "business growth" and a "moderate increase spending research and development. " In the process, Oddo is to reduce its recommendation to neutral.

Safran – 2.77% to 27.05 euros, Suez Environnement: -4.23% to 11.09 euros

Saffron is the best candidate for an entry in the CAC 40, while Suez Environnement, whose price has fallen heavily since the beginning of the summer, should come out, say professionals in the Paris Bourse.

Nyse Euronext – 1.93% to 18.56 euros

The London Stock Exchange has confirmed a press report that it is discussing a possible settlement with LCH.Clearnet.Discussions are at a preliminary stage and there is no guarantee that it would, he said.

Neopost: + 10.39% to 56.30 euros

The group raised its forecast of annual sales for the second time, following an accelerated growth in the second quarter, thanks to the dynamics of North America.

At the close of the New York Stock Exchange, the Dow Jones advance of 0.46% to 11,613.53 points and the Standard & Poor's 500 and Nasdaq 100 rise respectively from 0.49% to 1218.89 points and 0 , 13% to 2579.46 points. Just before the final gong, U.S. markets rallied after going into the red, a sign of anxiety that prevails again.

Still, U.S. investors were reassured yesterday evening, the tone of "minutes" of the last monetary policy committee of the Fed. This report has indeed confirmed that the U.S. central bank did not rule to use new tools of monetary easing to support growth ever more threatened. A perspective that also prompted the European markets to rebound on Wednesday morning, when he had closed the previous day on a mixed note.Also in the interests of peace, the United States, President Barack Obama said on Tuesday that the U.S. economy had a "heart attack" she was recovering at a slow pace as he prepares to unveil a new stimulus package.

On August, the Dow Jones drops 4.4%, its worst performance since May 2010.

The employment figures highly anticipated

The indices have reacted rather well to a series of indices published this afternoon.

The private sector in the United States slowed its hiring in August, creating 91,000 jobs over the month, less than expected by analysts, according to figures released Wednesday by consulting firm HR ADP.These new jobs, slightly lower than in July (109,000, revised), are lower than analysts' forecasts, which projected 100,000.

Orders for the industry rose 2.4% in July in the United States, more than expected, driven upward by the strength of the transport sector, said Wednesday the Commerce Department. Economists on average had expected a rebound 1.9% after falling 0.4% (revised from -0.8%) the previous month.

However, the index of purchasing managers in the Chicago area fell in August, slightly less than expected, while falling to the lowest since November 2009. The index published on Wednesday in August falls to 56.5 against 58.8 in July and a consensus on giving 53.5.

On the corporate side, the American phone AT & T (-3.92% to 28.46 dollars) fall while the U.S. Justice Department will oppose the proposed acquisition by AT & T, currently number two in the phone Mobile USA. Even if the group is committed Wednesday to repatriate to the United States currently filled 5,000 jobs in its call centers overseas, where green light to the acquisition challenged T-Mobile, the subsidiary U.S. Deutsche Telekom.These employees will be "well paid", assured the group in a statement, recalling that he was the only major U.S. telecom operators to accept unions in its stores.

Bank of America (086% to 8.18 dollars) is about to further reduce its scope of activity in the mortgage, by stopping the sale of mortgage loans through independent agents, said Wednesday the Wall Street Journal, citing people familiar with the matter.

Hewlett-Packard (-0.08% to 26.03 dollars) will temporarily restart production of its TouchPad Tablet, whose sales soared since the U.S. computer giant announced mid-August that he would cease to manufacture. HP announced on August 18 a sudden change in its strategy, through the cessation of production of its new tablet and its smartphones using the operating system of Palm webOS.HP also plans to separate its activities from production computers to refocus on software.

Outside the coffee dock, near the Gare de l'Est in Paris, the formula breakfast at 7 euros. At this rate, you are entitled to two slices of bread, a croissant or pain au chocolat, orange juice and a hot drink. Marcel Bénezet not sell a dozen a day, when he easily achieves 80 seats daily.

"In France, the breakfast is just 2% of sales of cafés, bars and eateries, says the owner of the establishment, also president of cafes, bars and brasseries in the union Synhorcat. But for one short year, the market moves a little. We draw some of the clientele of hotels.More and more business appointments are also around a working breakfast between 8 o'clock and 10 o'clock. "

"Not very profitable"

Praised by business travelers, the Plaza Athénée, a Parisian palace, carries 3 million in sales a year with his breakfast, including 1.6 million in the dining room of Alain Ducasse, where 60% of the clientele has not spent the night at the hotel. A single espresso is charged 8 euros. "The average price is 50 euros per person. All patrons of the CAC 40 are there, welcomes François Delahaye, the owner of the Plaza Athénée. Breakfast loyalty. But it is not very profitable, because payroll costs as much as we noon, when the bill is four times lower. "

Breakfast remains a difficult market for restaurateurs.The French are indeed more likely to take home the Anglo-Saxons, and they have less appetite.

McDonald's France, the breakfast is less than 1% of sales. "Unlike the British, Germans and Dutch, the French are not ready to leave in the morning for their breakfast, says Isabelle Kuster, Vice President of Operations in France and Southern Europe at McDonald's. Many are content with a coffee and stay hungry until noon.To attract them, we must offer them what they prefer: an espresso and toast. "As a result, McDonald's, which sells its formula with American breakfast (pancakes and Egg McMuffin) than 250 McDonald's where the demand warrants, innovates by launching September 26th in its 130 McCafe an offer adapted to the habits of the French, with small black and baguette spread with butter and jam.

"France is the only country where the espresso and croissants topped sales in the morning," insists a spokesman for Starbucks. The American chain attracts a customer in France to 60% and 40% of local tourists. In the morning, only 30% of customers use their on-site order. "But in France, we carry a large portion of our sales between 8 am and noon, when the Germans and Spaniards are more in the afternoon," said the spokesman for Starbucks.

After the storm that brought down the CAC 40 over 5%, the Paris Bourse seems unable to stay in the green Thursday. After opening up 2.96% to 3092.16 points, the CAC 40 went back down just before noon and sank below the threshold of 3000 points, already briefly reached Tuesday. Half an hour after the opening up of Wall Street, with two good indicators on employment and housing, the index slope gently went back after plunging 2.40% to 14 hours. He lowered from 0.08% to 3000.60 points to 16 hours.

In Frankfurt, the Dax is in the green at 5647 points, up 0.61%. The FTSE-100 index of London Stock Exchange plays yoyo but is also up 0.82% to 5047 points.

The concerns are far from being dissipated, particularly those relating to the slowdown in the global economy and the issue of sovereign debt on both sides of the Atlantic.Evidence of this tension, gold continues to fly record after record. The precious metal has crossed the threshold of 1800 dollars. It is this Thursday morning in 1790 dollars, after hitting a new record of 1815.50 dollars.

Oil prices also retreated in a market that once again expressed its concerns about future growth and energy demand. On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for September delivery was trading at 82.39 dollars, down 50 cents from the previous day.

Bank stocks battered

Among the values ​​of the day include banking, which have been heavily tested yesterday. The Financial Markets Authority (AMF), the stock market regulator, announced that it will monitor developments in the securities sector.Shortly before noon, BNP Paribas (-5.88% to 33.515 euros), and Credit Agricole (-1.51% to 5.981 euros) and plunged into the red after yet open on a rebound.

The title plays yoyo Societe Generale: having lost 14.74% Wednesday, it opened on a rebound of almost 9%.He dived again from 4.13% to 21.265 euros in midday before regroup after the opening of U.S. markets (-0.45% to 22.08 euros to 16 hours).

"The willingness of these attacks is to force the SG to a capital increase, which is the workhorse of some analysts and hedge funds in recent months," said an analyst based in Paris at the agency Reuters. "Their reasoning is that the group does not generate enough capital to cope with the capital ratio of over 9% in 2013." The bank, already shaken in 2008 by the Kerviel affair, only to find the investor confidence after several warnings about its results during the financial crisis.

For its part, the CEO of the bank, Frédéric Oudéa, denounced, in an interview with Le Figaro, "the series of attacks" against the French banking sector "sounds completely fantastic, I struggle with the utmost force, attacked Societe Generale, "he lamented. "We have no fear about our ability to raise capital," he added. SocGen has asked the AMF to investigate the origin of the rumors that have depressed its course Wednesday.

Alcatel-Lucent takes advantage of Cisco's results

Veolia Environnement (4.61% to 10.55 euros) and STMicroelectronics (3.39% to 4.488 euros), especially titles attacked in recent days, return to the field.

In addition, EADS (1.66% to 20.24 euros), the parent company of Airbus, said Wednesday it will not achieve its objectives in the United States in 2020 without new acquisitions.

Title Alcatel-Lucent (2.11% to 2.324 euros) rose after the release of quarterly results from Cisco Systems, above the consensus of Wall Street.

L'Oreal (2.29% to 1.73 euros) benefits from the decision by Goldman Sachs, which added its list of preferred European stocks to buy ("pan-Europe conviction buy list").

Saint-Gobain (1.11% to 31.775 euros) has announced the acquisition of Solar Gard, a subsidiary of Belgian group dedicated to Bekaert Specialty Films, as part of its strategy to accelerate its growth through acquisitions.

Maurel & Prom rose 4.22% to 12.35 euros after opening up over 8%. The oil company has reported a surge of 123% of its revenue thanks to increased revenues in Gabon and Nigeria.

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If this is not a government program or a setting under the supervision of Italy is like. Friday, Jean-Claude Trichet and his designated successor Mario Draghi sent a joint letter to Silvio Berlusconi stating the conditions set by the ECB to the acquisition of Italian government securities on the secondary market. Conditions detailed binding, behind which one can read the label of the current governor of the Bank of Italy, future boss of the ECB. The letter should have remained secret: the Corriere della Sera reported Monday morning, after the Executive Board of the central bank in the euro area, which has long balked at the reluctance of German and Dutch governors, gave the green light to purchases of securities in Italy and Spain.

Roadmap drastic

The ECB seems to blame the previous plans of Silvio Berlusconi to be inadequate, too general, too spread out over time.As she raises her conditions. First, she asked Silvio Berlusconi to proceed by order, immediately applicable, not Bill (DDL), that Parliament is still time to approve. It then lists the reforms it expects Italy. In terms of privatization, she cites municipal corporations (public transport, roads, electricity supply, with the exception of water which will remain public).

With regard to the Labour Code in force since 1970, the ECB requires to make more flexible the procedures for dismissal and to focus on agreements in companies with sectoral agreements negotiated at the national level. This is a crucial point: Sergio Marchionne, boss of Fiat, continues to denounce the rigidity of hiring and layoffs.

By asking such requirements, the ECB ventures into unfamiliar ground.But it does not matter to the hawks in Frankfurt to fly to the rescue of Rome by putting huge sums into play if Italy does not comply with a roadmap drastically. Nicolas Sarkozy and Angela Merkel pushed in that direction. In their joint statement on Sunday night, they emphasized that the return of Italy to a balanced budget in 2013 was an important "fundamental" for markets and called for "a rapid implementation and complete" the measures announced Friday by Silvio Berlusconi.

This intervention boosted the opposition: "What we really require the ECB and the international institutions? A government powerless now totally discredited and Trust must at least say what the real situation, "said the press head of the Democratic Party, Pierluigi Bersani.As for the former European Commissioner Mario Monti, he now believes that Italy is governed by a "foreign Podesta."

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In the aftermath of a black day on world financial markets, U.S. equity markets begin this Friday on a stable note. In early trade, the Dow gained 0.03% to 11,387 points, the Nasdaq is 1.01% more frankly to 2582 points and the S & P up 0.82% to 1211 points. The markets resume with the publication of unemployment figures across the Atlantic for the better than expected in July.

Wall Street follows the movement promoted by the European stock exchanges. In Paris, the political mobilization against the bear market in Europe has slowed the drop in European indexes.

The employment figures dictate trend

In this context the assumption of a recession in the U.S. or the world, is today one of the main fears of the markets, the announcement of a significant improvement in job creation last month calm spirits on Wall Street.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 fast cash online.

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.

In a market still panicked on issues of U.S. and European debt, he had to look this morning to find values ​​still moving into positive territory. Yet the case of Bic, which is Wednesday morning at the top of the charts in the SBF 120 and values ​​eligible for the SRD, with an increase of 5.27% to 64.74 euros an hour after opening. The reason: the publication of interim results above expectations, at least much of its activity. Good news that restores a little balm in the heart of the operators, cooled from a fortnight in business publications rather disappointing. Demonstrated again this morning the profit warning from Société Générale, in turn affected by the effects of the crisis of the Greek debt.

This is clearly not the case for Bic.The specialist in stationery, lighters and shavers has indeed unveiled Wednesday half-yearly sales up 5.5% (comparable) to 886.1 million euros and an operating profit of 174.9 million euros. An annual increase of 22.4% more than that of revenue, thanks in part to the increase in gross margin and cost savings involved in the restructuring program in 2009.

Offset deliveries of orders for back-classesCes good results are obtained Bic thanks to sales growth markets (+15.3% on a comparable basis) and by the strong performance of its consumer division (stationery, lighters, razors ).The latter, which represents over 85% of its turnover, has in fact increased by 8.8% over the period to 758.8 million euros, supported among others by the good performance in stationery and lighters in Latin America and Asia lighters.

However, in Europe and the United States, stationery grew much lower (about 1.5%), affected by the timing of delivery of orders to return to school. "Distributors delay until the last moment of receipt of goods back to school," explains the release. With the effect a shift in sales from the second to the third quarter. Despite this, the group remains confident for the year-end on this division that made its reputation. For 2011, management believes that growth in this sector will exceed the 5% previously announced for the year.

Advertising products to the penalty

Investors have therefore retained the good news rather than the poor performance of the other activities of Bic, namely advertising and promotional products (Bic APP), which represents 15% of its sales. In the first six months of the year, income from this activity decreased by 10.2% on a comparable basis, affected by "customer service issues, including delivery." In addition, BIC recorded in this division of non-recurring items mainly related to the reorganization of its Italian operations, affecting up to 1.9 million euros operating profit. In the end, Bic APP recorded a loss from operations of 3.5 million euros, against a gain of 1.6 million a year earlier.Bic said however, "confident about the success of the integration plan and return to growth of this branch in 2012."

In the longer term, Bic is also focusing on growing markets for its development. Within a decade, he wants to increase the share of its business that is conducted at over 40% against 29% in 2010. And to address inflationary environment of commodity prices, Bic plans in the coming weeks price adjustments "targeted" on some of its products. A "power-pricing" that would also be useful to offset increased marketing investments to support the brand.

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While its main competitor, the German Linde, announced Friday a 14% increase in quarterly profit and revenue of 7.5%, Air Liquide has nothing to be ashamed: the manufacturer of industrial and medical gases Air Liquide published on Monday morning a net profit of 750 million euros (+11%), and annual sales up 9.2% to 7.1 billion euros in the first half of fiscal 2011. The revenue growth was primarily driven by developing economies, which now generate 21% of sales activity "gas services" and where growth was 28%. Revenues in the advanced economies have increased by 7% each.

After the announcement, the stock exchange, Air Liquide shares rise from 1.57% to 97.46 euros in First Prev exchanges in a market (the Cac 40) up 0.98%, driven by the agreement reached with U.S. debt.

Despite an impact of tsunami in Japan and revolts in the Arab world, the operating margin was 16.7%, up 10 basis points over one year Payday advance. Excluding the effect of changes in natural gas prices, the margin improved by 30 basis points. Air Liquide has also reduced costs by 132 million euros, while it wants to cut more than 200 million euros over the year."In this context, and in a normal environment, Air Liquide is confident in its ability to continue in 2011 the steady growth in net profit," said CEO Benoit Potier said in a statement.

A half-year performance that is part of the strategic plan for 2015 presented in December, and expects an average annual increase in sales of 8 to 10%, higher than the expected growth of the market.

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"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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– Manage the post-Fukushima

The renaissance that nuclear power seemed to promise, in the world, there are a few more months, will she be? Areva had put in a position to be a key player in the expansion of civil atom, only controlled and profitable alternative to fossil fuels and "clean" in CO2 emissions which is more. The French group and hired some 12,000 people each year to keep pace expected of its business.

Since 11 March, the situation has changed dramatically: Germany, Switzerland and now Italy, have decided to end their civil nuclear program. India, with firm orders for new reactors was expected before the summer, will surely prolong his reflection. Anne Lauvergeon refused to believe in a "nuclear winter".For her as for other supporters of the atom, the policy decisions taken today as the heat of the moment can be questioned tomorrow.

For now, the international development of Areva is at stake in the coming months, all the nuclear installations in Europe will be reviewed. Although the terms of these "stress tests" are still being defined, Areva will necessarily be at the forefront. Like Anne Lauvergeon, his successor will have to become a diplomat of nuclear power, both to reassure his interlocutors on the safety of this activity and convince them to pursue an effective dialogue with the French group.

– Restore the finances of the company

For a long time, critics of Anne Lauvergeon stigmatize poor operational management of the company and its finances in jeopardy.In 2010, the company has also accused an operating loss of 423 million euros and the rating agency has become mediocre. The group also suffers from having camped on his credo of "vertical integration", to the point of purchase, too expensive, its own uranium mines, which now require large investments. Finally, the action Areva is listed in this form since May 30, has lost nearly 15%.

– Pacifier relationship with EDF

Relations have never been easy between the two companies, they have become abominable between Anne and Henri Proglio Lauvergeon, CEO of the utility since the fall of 2009. Regularly called to order by the state, their shareholders to both, the two companies to work together STRIPS sentenced last fall to formalize a strategic partnership.

All aspects of collaboration are concerned, the supply of uranium to the reprocessing of spent fuel, to building new reactors. But the various working groups have not yet yielded any conclusions. Again, the management of Areva will be watched around the corner. Luc Oursel will be on a narrow track of restoring harmonious relations with EDF, without appearing the vassal.

Seen from the Elysee, the issue is crucial because it is to harmonize relationships within the French nuclear industry to win export contracts. Without compromising the ability of Areva to sell only his skills to other electricians global EDF's competitors.

– To service the Finnish EPR

It's really cursed the site for Areva. The new generation of reactor Olkiluoto 3 should have been operational in 2009. It will not be before 2012.His bill, expected around 3.5 billion euros, has appreciated by 3 billion euros, lead accounts Areva. The company – which has staked his credibility by taking on the project management of this project – no longer has the right to make mistakes. The EPR is the cornerstone of its international development. And it is that Luc Oursel return the task to make a successful export, arguing its assets in terms of safety.

At the same time, the new leader of the nuclear group will tackle the launch of the TDD, a new medium-power reactor that. Through this case is the ability of the company to expand its portfolio of facilities that will be tested.