The third quarter has seen the French economy continue to recover. The gross domestic product (GDP) grew 0.3%, the same pace as in the previous quarter, according to the latest revised figures published by INSEE on Tuesday.

The disposable income of households has also continued to grow at 0.8% from July to September, against 1.1% on the previous three months.

More to come …

The crisis seems well for U.S. banks Wells Fargo and Citigroup. The two institutions announced that they had repaid as expected aid from the government under the program of emergency aid to financial sector (TARP). Thus, Wells Fargo has repaid 25 billion worth of preference shares it had ceded to the federal state. A sum to which are added 131.9 million dollars in dividends. "This brings the total dividends paid to the Treasury to 1.441 billion from the issuance of preference shares in October 2008, the company said.

To repay the government, Wells Fargo has drawn in its excess liquidity and raised 12.25 billion dollars in a capital increase last December 18.According to the bank, the repayment will remove $ 1.25 billion in annual dividends of preference shares and will have "a slightly positive effect on earnings per share in 2010. The U.S. Treasury still holds warrants for about 110 million Wells Fargo shares at an exercise price of 34.01 dollars per share.

Even new side of Citigroup. The bank said it had repaid 20 billion dollars in aid. The Treasury still holds warrants for common shares issued under the rescue plan, and that 7.7 billion shares, it intends to sell in 2010. In addition, Citigroup said to have ended an agreement to share losses dating back to January and signed with the Treasury, the Federal Reserve and the federal agency guarantees bank deposits (FDIC). The agreement was nearly 300 billion dollars in assets from Citigroup.However, the Government still holds 5.3 billion worth of preferred securities, obtained under this program to share losses.

For the benefit of taxpayers

For now, the Treasury received a total of 164 billion dollars in aid repayments by banks. He said that amount could exceed 175 billion dollars by the end of 2010. The state would have incurred any loss in connection with this plan.Better yet according to the Treasury, "the taxpayers have already received over 16 billion dollars in profit program of emergency assistance and this amount could increase significantly, the Treasury selling warrants further in the coming weeks."

To recall, the U.S. government paid 245 billion dollars over fiscal year 2009 (October 2008-September 2009).

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Oil giant Total is to enhance cooperation with China Petroleum China National Petroleum Corp., according to according to Christophe de Margerie, head of the French group. Interviewed by the Wall Street Journal, he discussed joint projects in Venezuela to develop oil fields of Carabobo and the Halfaya oil field in Iraq, which Total has won the rights to operate alongside CNPC and Petronas.

"There is a real opportunity for Chinese companies and Total are working together," he said on the sidelines of a visit to Beijing in the company of French Prime Minister Francois Fillon.

Delicate negotiations around a project in Iran

The French group is also discussing with CNPC around the development of gas field South Pars, Iran, which includes the export of liquefied natural gas.In June, Iran had signed a contract worth 4.7 billion dollars with CNPC to help him develop Phase 11 of South Pars, the total expense of the accused Iran of late. If discussions with his Chinese counterpart result, Total could again take part in the project, but why should reach a new agreement with Iranian authorities, that "for now, discussions have stopped."

The group Total has been repeatedly criticized, particularly by some American politicians for his involvement in Iran. The French group justifies its presence on Iranian soil, saying that investments related to energy transactions are long-term, while political regimes can change.If current conditions do not like and you decide to never be interested in that country, then "you'll never be anything" said Christophe de Margerie.

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End of busy year for the inaugural flights. After the military Airbus A400M and the Boeing B 787 Dreamliner, the Franco-Chinese helicopter EC 175 made its first official flight on Thursday morning. He took off the head of Eurocopter, a subsidiary of EADS, in Marignane, near Marseille. Louis Welsh, president of EADS, is expected on site as well as representatives of Avicopter, the specialized branch of aviation holding public Avic.The first flight marks the start of the certification campaign of the civil helicopter 7 tons specializes in transport between continents and platforms offshore oil and gas, rescue missions or the "corporate".

"It represents the culmination of years of effort to successfully complete this first flight in time, four years after signing the contract," said Joseph Saporito, director of programs marketed Eurocopter, world leader in the market Civil. "We started with a blank sheet to design the helicopter on the basis of a 50-50 partnership with the Chinese industry," says he. Avicopter and Eurocopter has invested 300 million euros each in the project. They shared the manufacturing and procurement.Eurocopter has exclusive rights in Europe, the United States and Australia while qu'Avicopter is sovereign in China and several countries in Africa and Latin America. The machine has two assembly lines like in France and China. But each manufacturer can then "customize" the device according to the needs of its customers.

The EC 175, known as Z 15 in China, a mouth hole in the range of Eurocopter intercalated between family Dolphin 4 to 5 tons and that of Super Puma helicopters of 9 of 11 tonnes. The two allies hope to sell 800 in twenty years and carry an annual turnover of 600 million euros in stride. Eurocopter already has garnered 114 firm orders and promises a first delivery late 2012. With the EC175, Eurocopter is reaping the fruit of thirty years of cooperation with China.The subsidiary of EADS has been a forerunner in signing in 1990 a licensing agreement for the EC120 Colibri.

Global Presence

China, where Airbus has commissioned an assembly plant for the A 320 last summer, is one example among others of the expertise of Eurocopter in terms of international alliances.

In South Korea, for example, the manufacturer is both the provider KAI his local counterpart, and its adviser support. "KAI has developed a gear 100% Korean. We provide the autopilot, the gearbox and main rotor. And we help them meet the needs of the army, "said Joseph Saporito. Eurocopter is a kind of godfather of Surion a military helicopter to 8 tons whose needs are estimated at 245 copies by the Korean army.The device was introduced in July 2009 and must make its first flight in March 2010.

In some countries, Eurocopter is investing from its local subsidiary after having won contracts. Chosen in 2006 to supply 350 LUH, a light helicopter, the U.S. military, he has put into service in the state of Mississippi a "carbon copy" of its assembly line based in Germany and made agreements with outsourcing Local. The site will deliver its 100th unit in February 2010.

This model will be deployed in Brazil bought 50 Super Puma and Australia for the Tiger combat helicopter and troop transport NH 90. "These are long term investments that allow markets to conquer, to globalize the network outsourcing and setting up bases for the manufacture and maintenance of equipment," concludes the director.

This will be the status quo. Despite the rising price of oil, regulated tariffs for natural gas will not be adjusted on 1 January next year, according to a spokesman for the Department of Ecology and Energy. In applying the method of calculation in force, the rate of megawatt currently set at 41.5 euros would have to increase by 0.65 (an increase of 1.5%) to reflect the supply costs of GDF Suez (ex-Gaz de France).

The regulated gas prices in theory are updated every three months and must reflect the evolution of oil prices over the last six months, with a lag of a month. If the formula had been applied to the letter, it would have resulted in lower gas prices by 3.6% on 1 October and an increase of over 5% on 1 January, when consumption is stronger.

The Government agreed with the energy group to avoid unpopular increases in the heart of winter. The regulated gas prices concern customers in effect nine out of 10 French.

To depoliticize the debate at the coming price adjustments, the government also announced Friday, December 11, it would change the method of fixing rates. It would, under the supervision of the Regulatory Commission of Energy (CRE), to entrust more power to the energy group GDF Suez.

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It took six days to break his silence. And yet the world was waiting he speaks. The Awards were panicking. The warning is part late November, when Dubai announced that its conglomerate Dubai World, is struggling to repay 59 billion in debt. As negotiations with creditors ahead delicate, Sheikh Mohammed has given an appointment on 1 December, journalists at the entrance of Dubai Media City, the neighborhood where settled CNN, AFP and al-chain Jazeera. Under the sun, disdasha white sunglasses and beard neatly trimmed, he stopped two minutes before the cameras. In fact interview, he let out a pithy phrase: "Dubai's economy is strong." He also regretted "the lack of international investors" before philosophizing on "Fruit Trees always attacked by those who throw stones.The allusion, acerbic, was aimed at Western media he despises. Then he climbed into his 4 ? 4 white. Scholarships and fell again.

"His Highness is very determined"

This attitude, princely or haughty as the interpretation is actually not worth that friends at HRH. "He laughs at the criticism even if they hurt his pride," says one of its brokers. At age 60, Sheik Mo has shown the other Gulf monarchies it is not just the oil life. So Abu Dhabi prides itself on culture and joined the Louvre. The Sultanate of Oman has made ecology by building on its magnificent scenery. As for Qatar, it develops its universities.

Sheikh Mo himself, runs Dubai like a business. If an order, it must be executed finger on the seam of his trousers."His Highness is very determined, confided the CEO of Emirates airline, Sheikh Ahmed, the magazine Vanity Fair in 2006. To follow, he must recharge his batteries at 100% and give everything. "This has enabled the micro-state to jump two centuries, between 1990 and 2009. But when crunch time, he must reassure communicate, the man is rare.

Born in 1949, Muhammad is the heir of the Maktoum dynasty. Bedouin who have settled in Dubai in 1833. In this small port that saw trade and smuggling, child's little prince is so spartan. Running water, phone, electricity, roads do not exist. At nightfall, on the creek, we lit the oil lamp. "We played ball on the dirt floor, we did not travel and we had no government," Sheikh Ahmed confided to Le Figaro in 2003. Mohammed was 9 years old when his father, Sheikh Rashid, seized power.The oil discovered offshore in 1966 freed the royal family of the dependence of ancient Arab traders, Iranian and Indian.

Visionary Sheikh Rashid began the first stage of modernization of Dubai. In three decades, he transformed the inlet in a regional logistics and industry. In 1966, Mohammed was sent to Cambridge to learn English. In 1971, the British left the Arabian Peninsula. Abu Dhabi, which owns the majority of oil resources, and Dubai, plus the best location, create, with five mini-states, the federation of United Arab Emirates. At age 21, instead of continuing studies, Mohammed is powered defense minister. Despite the turmoil in the region, his country is developing slowly but surely.

The privacy of Sheikh Mo is as secret as eventful.Horseman, he created a stable of thoroughbreds Godolphin, who became the great rival that of the Aga Khan. Each fall, he is one of the best customers at Deauville. In winter, the horses are in the sun in Dubai. In April, they leave by plane for Europe. Except this year as the Godolphin stable has been accused of doping. Sheikh Mo also owns the largest yacht in the world. He publishes his poems on the Internet. Married several times, he would have 19 children – eight girls and eleven son – now aged between 2 and 27 years. His biography on his official site does not mention them. But many of those princes and princesses have a page on Facebook. Like all young surfers today, they have taken hundreds of photos for free access.In a few clicks, one discovers the Sheikh's private life: the inside of his jet, his palaces, his children, their holidays in Europe, stretching their albino tiger on leather couches, their hawks. In the family album, just missing the wives and mothers.

Cape Town Tourism

On October 7, 1990, the life of Mohammed switches. His father, Sheikh Rashid, died after a long illness. The eldest son, Maktoum, ascends the throne. Mohammed became crown prince. But it will always be regarded as the true boss of Dubai, well before the death of his brother in January 2006. Surrounded by bodyguards brilliant ?miratiens commoners, he began the second stage of the transformation of Dubai. Cap on tourism, shopping, services and finance.With hundreds of thousands of workers forced laborers to thank you, he built skyscrapers, shopping malls and luxury hotels, including the famous Burj al-Arab, a 7 star hotel. Ski, giant aquariums, artificial islands, tallest tower in the world: everything must be extraordinary. Within a radius of 10 000 kilometers, Dubai is the only place where there are any consumer product, where women have no constraints imposed on Iran and Saudi Arabia.

Sheikh Mo, whose appearances are rare except in the photo on the property, has no ambition in international politics, but it pushes the girls to pursue careers and encourages entrepreneurs. "We are 1.5 billion Arabs which 50% are under 25 years. If we can save them by giving them meaningful employment, we will avoid to be extremists. "Strange speech, but little understood.Only the expansion of Dubai forced march draws attention. Speculators took power. And miscellaneous multiply: turning the car ram into a jewelry, demonstrations of "slave laborers" settling of accounts between the Russian mafia, rape of a young French … Sheikh Mo has also suffered heavily from the anti – Arab Congress in Washington opposed his bid for U.S. ports. According to Forbes, the fortune of the master of Dubai has shrunk from 28 to 16 billion dollars between 2008 and 2009.

All eyes are now turning to his son, Hamdan, 27 years. Nicknamed "CP" for Crown Prince, the military trained at Sandhurst in Britain has it in hand, the soul of a communicator. Familiar with Facebook, he put his videos on YouTube.The latest shows his impressive collection of cars, hundreds of cars, Ferrari, Rolls Royce, Porsche … Another clip presents declaiming, for five long minutes, a speech in Arabic on a thoroughbred in the desert or caressing lioness on a beach. His poems are "coo" of thousands of young women. Nice kid, he is Prince William of the Middle East.

Meanwhile, his father is negotiating with international bankers from whom he borrowed too. Next Monday, Sheikh Moh will have repaid a portion of its debt. One thing is certain: the economic model he developed for Dubai showed its flaws and shortcomings. His son did he understand? Does he realize that he must invent a new one?

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The U.S. carrier United Airlines announced Tuesday it had made a firm order for 25 Airbus A350s and 25 Boeing 787 called "Dreamliner, confirming information from the Wall Street Journal in the morning. This order also includes an option to purchase 50 copies of each model and more. According to business newspaper, citing sources familiar with the matter, the firm orders would amount to about 50 billion dollars. The U.S. airline said in a statement it was awaiting delivery of equipment ordered between 2016 and 2019, as and as it withdraws its rotations its international Boeing 747 and 767.

The announcement of this important acquisition, however, has no effect on the value of EADS (parent company of Airbus) on the Paris stock exchange, the title still retreating more than 2% within a FTSE 40 also a victim of profit taking (-1.81%).

One comes, the other

Boeing side, the command of United Airlines can console themselves as best they could while the CEO of Ryanair, Michael O'Leary, said Tuesday that the Irish airline was likely not to acquire 200 aircraft to fleet Boeing. Reason: a change in terms of delivery from the U.S. manufacturer. The two parties were yet reached an agreement, but according to Michael O'Leary, Boeing wanted to change its terms of supply during the weekend. Unless last-minute renegotiation of the board of Ryanair should finally bury the proposed purchase of Boeing aircraft Thursday.

The offensive of the City against Nicolas Sarkozy has not prevented French and British to agree, this Wednesday in Brussels on the minefield of financial regulation. For the first time the finance ministers of Twenty-Seven have decided to set up three financial supervisory authorities responsible for supervision of banks, insurers and markets.

To agree on the elements of this new pan-European, it took months of negotiations. The British holding back the four chains to the idea of delegating binding powers outside their borders.

Ultimately, everyone can find reasons for satisfaction with the agreement reached Wednesday. "Europe has made real progress in banking and finance, Christine Lagarde welcomed.The British have accepted the principle of a supranational authority, which in itself is a victory for proponents of regulation. They also "very well negotiated, they have no reason to say they have been crucified," said one diplomatic source.

Always worried about the competitiveness of the City, London approached these negotiations in a pre-election that did not help things. The British have always had trouble digesting the appointment of Michel Barnier at the French market, strategic position of the European Commission where he has the upper hand on financial services reform.

"Excess of Anglo-Saxon capitalism"

While Michel Barnier will arm British law.But this designation, hard-won by France, aroused discontent among Eurosceptics, who believe that the British government made a major strategic error by trading the market against the post of Minister of Foreign Affairs of the EU.

Outre-Manche, Michel Barnier appears as the Trojan horse of a European regulator and punctilious, and even a French offensive against the City. They fear that investors will eventually flee the main financial center of Europe. The French triumphalism exacerbates this feeling. Nicolas Sarkozy, who has made the financial regulatory standard-bearer, has seen the appointment of Michel Barnier, a victory for French theses against the "excesses of Anglo-Saxon capitalism."

As the grumbling has it ceased to mount last week.On Wednesday, the British finance minister, Alistair Darling called the future Commissioner Michel Barnier not have too heavy a hand in regulating. "London, like it or not, is the only place that truly competes with New York," he said in an article published by The Times.

"It is in the interest of all Europe that it can thrive r." And beware of excessive zeal: "If one is wrong, we risk losing business to other less regulated jurisdictions" , he said, referring to Switzerland, but also and especially to Asian financial centers like Hong Kong or Singapore.

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The Commercial Court of Paris has fined eBay fined 1.7 million euros for selling perfumes of French luxury group LVMH Internet without his consent. Already in 2008, the site of auctions had been ordered to pay LVMH 38 million euros in damages for "illegal practices" following the sale of perfumes Kenzo, Givenchy, Christian Dior and Guerlain, trademarks group of luxury. This is already a good number of years that eBay is the focus of LVMH for the sale of cosmetics and fragrances.

Again, the Commercial Court of Paris has decided to recall eBay order, sentencing him to a fine of 850,000 euros twice on the grounds that it failed to comply with the injunction prohibiting him from selling these products . The director of LVMH Pierre Gode has welcomed the ruling, "which focused on the new principle of selective distribution.

On the side of eBay, however we are surprised by the severity of the trial. "We have put in place all necessary means, including additional manual filtering, to comply with this injunction," said the Chief eBay France Alexander von Schirmeister. This court decision is "absolutely disproportionate," he said. The group reserves the right to appeal this decision but it is still "too early" to know what he decides to do, "concluded Alexander von Schirmeister.

The auction site had also been convicted in September by the Tribunal de Grande Instance of Paris to be used without permission on behalf of several flavors of the world's leading brands of luxury. He appealed the ruling.