The Paris Bourse is stabilized Friday morning after a nice session of increase recorded last night leCac 40 opens to the balance (-0.01% to 3981.96 points, still close to 4000 points a threshold that has not been touched for a month. The Greek situation reassured the financial world yesterday, as the Greek Parliament finally adopted the unpopular austerity plan, paving the way for the release of a next tranche of aid from the European Union and the International Monetary Fund. The euro has risen, moving at more than $ 1.45 this morning.

To be continued this morning Markit manufacturing PMI this afternoon and consumer confidence from the University of Michigan in June (2nd estimate), construction spending in May and the ISM index of activity in industry in June.

Investors also will monitor the U.S., where the issue of debt escalates.One report indicates that U.S. lawmakers should agree within three weeks on raising the debt ceiling, or the country will default.Timothy Geithner, the Secretary of the Treasury, would resign.

The figures in the automotive market

The Committee of French Automobile Manufacturers (CCFA) has released figures this morning the car market for the month of June and first half: the new car registrations in France fell 12.6% in June, in gross, with 210,236 units sold, Renault (-0.88% to 40.52 eruos) showing a plunge of 29.3%, said Friday the Committee of French Automobile Manufacturers (CCFA).

Renault breaks the price of his Renault Twingo, faced with falling sales, will sell for the first time one of his vehicles, the little Twingo at a price lower than the Logan, the model input range of its Romanian subsidiary Dacia, according to La Tribune.

PSA (-0.63% to 30.67 euros) is increasing in India The automaker is expected to invest 620 million euros in building its future manufacturing site in India, according to Les Echos. PSA will implement this facility in the state of Tamil Nadu, south of the country.

EDF EN signs a big contract

EDF. EDF Energies Nouvelles (-0.13% to 39.64 euros), a subsidiary of French group dedicated to renewable energy, has signed with the Danish Vestas Wind Systems for the use of wind turbines in Europe and the United States. The contract could provide the French operator up to 2000 megawatts over the period 2012-2014. The transaction amount was not disclosed.

LVMH (-0.36% to 123.65 euros).Philippe Pascal, who led for ten years, watches and jewelry division of LVMH, has been appointed adviser to Bernard Arnault, CEO of the world's number one luxury.

Areva (0.08% to 25.73 euros) said Thursday that the strategy developed since the creation of nuclear group by Anne Lauvergeon was a "success" and that his replacement did not involve a change of course.

EADS (-0.35% to 23 euros) Thursday announced the successful acquisition, through its subsidiary Eurocopter, the Canadian aerospace supplier Vector Aerospace, 98.32% of shares were made to the offer made in late May.

TF1 (0.48% to 12.60 euros) Thursday announced to be in negotiations to become the sole shareholder of Metro France, the eponymous owner of the free newspaper which claims 2.4 million daily readers.

Carrefour (-0.35% to 28.22 euros) has signed an agreement with Pixmania, the specialist in consumer electronics, to catch up in online sales of non-food.

Bénéteau (0.37% to 14.90 euros), leading manufacturer of sail, said that sales for the first nine months of 2010-2011 and the level of its order book permitted him to confirmed its target of annual turnover of 920 million euros.

BioAlliance (-4.92% to 5.80 euros) Friday announced the launch of a capital increase of EUR 16.6 million to accelerate development of its portfolio of orphan drugs in oncology, particularly Livatag .

CGG Veritas (-3.13% to 24.60 euros): Goldman Sachs cut its price target to 29 euros against 31 euros previously and released the value of its company preferred.

Teleperformance (0.96%) would be an ideal target for a fund specializing in buyout leverage (LBO), analysts said while the global call center is not in debt and that its Capital is not controlled.

Valeo (2.47% to 48.24 euros) from the list of preferred values ​​of Morgan Stanley. The intermediate course is 67 euros.

Nearly three years after the financial crisis, the first sanctions against the banks fall. And the bill is particularly salty for Bank of America. The U.S. bank agrees to pay $ 8.5 billion to end the prosecution of several investors and has also spend an additional provision of $ 5.5 billion to clear the situation with the following semi-public mortgage refinancing as Freddie Mac and Fannie Mae. This would involve the agreement of compensation the largest ever signed by a bank in the United States, according to the Wall Street Journal.

Admittedly, the stakes are also unpublished.The Wall Street as investors Journalrapporte particularly experienced such a number of asset management, BlackRock, the insurer MetLife or the Federal Reserve (Fed) of New York complain about the conditions of sale of so-called "subprime," these products complex financial risk that formed the heart of the Great Depression of 2008. Symbol of a finance gone mad, these "subprime" were associated with variable rate mortgages granted to families with poor credit. Their value plummeted after the collapse of the U.S. housing bubble, which caused a series of foreclosures and debt of thousands of homes.

These individuals will not receive the compensation that Bank of America has agreed to pay. Indeed, they are used only for investors who are customers of Countrywide Financial, now a subsidiary of Bank of America in January 2008.The specialist mortgage lending in the United States had sold to investors of financial products like subprime for an initial value of $ 105 billion accompanied by guarantees on the composition of their portfolios. But soon after, with the bursting of the housing bubble in the U.S., these investments have proved extremely risky, losing most of their value. Investors who bought these financial products from Countrywide Financial believe to have been cheated, since the original contractual terms have not been met.

The case could set a precedent

Bank of America for months trying to resolve this embarrassing litigation, inherited directly from the acquisition of Countrywide Financial.But until now the CEO of Bank of America, serving for a year and a half, has refused to pay for past investments, arguing that investors had acted knowingly. By agreeing now to pay the full price, so it gives a signal again, and strong.

This case may give ideas to other investors who lost big in the collapse of the "subprime". Thus, other banks like Wells Fargo or JPMorgan could also be directly affected by requests for compensation.

The U.S. bank, which also pass for $ 6.4 billion of writedowns in its accounts the second quarter, estimates that its net loss for the three months ending in late June could be up to $ 9.1 billion, according to a statement of the institution.

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"The largest banks will boost their capital

The Brazilian José Graziano da Silva, 61, was elected Sunday Director General of the Food and Agriculture Organization (FAO). He becomes the eighth five-year patron of the technical agency of the United Nations established in 1945 to fight against hunger and promote agriculture in the Third World. FAO is currently the largest UN agency with an annual budget of about one billion dollars. The Brazilian succeeds Senegalese Jacques Diouf and the Lebanese Edouard Saouma who each led the Organization for eighteen years.

A graduate in agronomy, economics and rural sociology, Graziano da Silva in 2006 was Assistant Director-General, in charge of Latin America and the Caribbean. At the 37th General Conference of FAO, he obtained the votes of 92 members of 180, winning in front of the former Spanish Foreign Minister Miguel Angel Moratinos.It's sort of a victory for the emerging markets when Christine Lagarde is the favorite in the IMF against the Mexican Agustin Carstens.

José Graziano da Silva will head the FAO on 1 January 2012, at a crucial time, in a context of soaring agricultural commodities. His road map is all mapped out after the agreement snatched last week in Paris G20 agriculture: the text gives a role to the international organization in the fight against price volatility and sets a target to increase production World Food 70% by 2050 to feed 9 billion people online pay day loans. Knowing that today nearly one billion malnourished.The organization must support a new global database measuring the levels of production and stocks, and a "forum for rapid response" meant to anticipate retaliatory trade embargo on the export type.

"Three meals a day"

In Brazil, Graziano da Silva is responsible, as Minister of Food Security in the first Lula government in 2003, the ambitious "Fome Zero" (Zero Hunger), considered a resounding success that has reduce inequalities and thousands of Brazilians out of extreme poverty.

His election to the FAO, he chose the slogan "ensure three meals a day," which is still an illusion for a third of humanity."I am no longer the candidate of Brazil, I am the CEO of all countries," said Jose Graziano in Spanish, visibly moved after the announcement of his election.

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"Agreement G20 agricultural price volatility

On the eve of closing the doors of the Salon du Bourget, a shadow could come tarnish the immense success of the European manufacturer Airbus at the time of high mass biannual aerospace. While the group has announced four days a new record of orders, with 72.2 billion worth of contracts garnered the announcement by China of a possible blockage of a contract for $ 3.8 billion ( 2.7 billion euros) for 10 A380 looks like a grain of sand from the well-oiled machine seize up.

At least, that understands the Financial Times on Saturday. Echoing the words of sources familiar with the matter, the newspaper said that Beijing had threatened "to undermine a deal worth billions of dollars for 10 Airbus super jumbos" in protest against the decision of the European Commission to include air transport system in the trading of CO2.This measure is to buy permits for each tonne of carbon emitted dioxin in European airspace, beyond a certain threshold. The Asian company Hong Kong Airlines was the official control of very large aircraft at the Paris Air Show. But the hardening of the Chinese position facing the European measure prevents the conclusion of the agreement, according to sources.

This disagreement does not allow to increase to 12 orders for A380 harvested at Le Bourget. Thursday, Airbus had reported a firm order for 10 A380, from an unidentified customer. According to one industry source, this command corresponds to that of Hong Kong Airlines. The counter for very large aircraft will remain blocked for the moment 2.

The case could also be amplified in the coming months no fax cash advances. "These are not the only contracts held hostage by the Chinese.One on the A380 could be only the first, "explains the paper citing its source. Because the European manufacturer has other current contracts with the Middle Kingdom. Meanwhile, the Airbus management is counting on a visit to Berlin next week Chinese Prime Minister Wen Jiabao, to unblock the situation and conclude the contract.

"No plan B '

Beyond this contentious spot, the tour in Europe, China (Wen Jiabao arrived here Friday in Hungary, a country holding the rotating presidency of the European Union) should be an opportunity to address the underlying problem of quotas. A delicate matter, the European Commissioner for Climate Action, Connie Hedegaard has formally ruled out that the Chinese retaliatory measures have any impact on the measure, scheduled to take effect next January. "There is no plan B. Our position is very clear.We would not amend, "she said.

Faced with this inflexibility, Tom Enders, the boss of Airbus, for its part called on Europe to be flexible, saying the "madness of attracting reprisals" from a player as influential as the China. For the latter, comply with the requirements of the EU would entail, for the Chinese airlines, a surcharge of $ 126 million in 2012, according to data from the China Air Transport Association (CATA). This figure set to rise in coming years, when China's increasing its flights to Europe. In his struggle, China is also supported by the United States.

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"Bargains of the Airbus A380

Offensive. Nicolas Sarkozy did not mince words Monday in his opening address to the Air Show, which opened at Le Bourget. The Head of State urged the French industry to "meet the challenge of globalization" and to cooperate more. "We will encourage groups that strengthen our industrial champions," he said.

"The Franco-French squabbles must end in a good mood and on a voluntary basis, and if it was not the case, it would be always in good spirits but on the basis of instructions. The competition is too fierce, the stakes are too urgent. We must decide and decide now to make choices, "he said. The State may operate the levers being both client and principal shareholder of almost all defense companies: Saffron (30.2%), Thales (27%) and EADS (15%).The government press Safran and Thales to reach agreement on an asset swap. The first showing of the second avionics which, in turn, would become No. 2 worldwide in optronics. Similarly, for drones (pilotless aircraft), the State promotes cooperation. "France needs of global players. It is indisputable for Airbus civil aircraft, Eurocopter helicopters, engines, Safran and Thales in radar, but in defense of Europe pays core rivalry between the Rafale and the Eurofighter. Do not repeat this in the unmanned aircraft. Avoid the Europeans are divided, "said Gerard Longuet on his side. Decided to implement the Franco-British signed in late 2010, the defense minister is expected to announce shortly the creation of a Franco-British combination of branches in Armaments (DGA) on both sides of the Channel.

Two projects of drones

In this context, "Dassault Aviation and EADS have to talk a little more," said Gerard Longuet. Two projects are vying to give the kickoff to the creation of a European industry for so-called drones Male (medium altitude long endurance) by the year 2016-2018: the Telemos, which is the result of an agreement exclusive cooperation between BAE Systems prime contractor for the project, and French Dassault Aviation, systems manager, and the Talarion EADS.

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"Le Bourget, user manual

"The battle began in order Bourget

Jumped 87% in one year. Pension fraud detected by the general pension scheme (CNAV) amounted to 47.5 million euros last year, against 25.4 million in 2009. Please note, this money does "only" 10 million "injury found" or fraud (the career resources, marital status …) resulting in the overpayments. However, this figure tripled in one year. Forty per cent of detected cases involved failure to report, 40% of false statements and 20% of false documents. CNAV refuses to say how she recovered from this amount.

The rest, ie the vast majority of money involved, is to "damages avoided", that is to say, money that would have been paid over the years (throughout retirement fraudsters) if the cheating had not been discovered.28 million euros' benefits in payment "and 9 million on" benefits not yet paid. " "That does not mean that there has been an explosion of fraud in a year, but simply that we detect most," said Peter Mayer, director of CNAV.

539 centenarians Algerian

The fund has, for three years, put the means to fight against fraud, decreed a "national priority" by the state. The dedicated staff represent 75 full-time, thirty cons in 2008. The budget has almost doubled to 4.9 million. Cost "more than offset by the 47.5 million earned on fraud." Peter Mayer took the opportunity to deny the existence of a multitude of centenarians 'fictitious' retired in Algeria. Contrary to the rumors that the Internet, they are only 539 centenarians CNAV a pension in that country.But the director confirms that the control is more difficult to perform outside of France, 1.2 million people living abroad receive a pension CNAV.

To verify that they are alive, the regime sent them several times a year a "certificate of existence" to return the signed and stamped by a local authority. To carry out spot checks, CNAV wishes enter into agreements with insurers approved by the local consulates. A test should be launched in September in Tunisia, where 31,000 retirees receiving pension CNAV.

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"Pension reform will change behavior

The damage is done. Although the cucumber is more pronounced as carrier of the bacterium E. Slayer coli (EHEC), the bill is very heavy for the French vegetable growers. Consumers stay still images as well as tomato salad and a time alleged by Germany.

"Nothing in a week, we estimate our losses to 3 million euros," said Friday afternoon at Figaro Angelique Delahaye, president of Vegetables in France. She just finished consolidating losses estimated at national level by some 3,000 growers of cucumbers and tomatoes. "We're going to report these figures in the service of the Ministry of Agriculture in the context of the experts meeting in Brussels next Tuesday," she says.

Half of the losses on the production of cucumbers and half the tomatoes."We lost earlier this week a program to supply 500 600 tons of tomatoes to 1.10 euro per kilo from the German central purchasing or 550,000 to 660,000 euros less," says Pierre Diot, president of the AOP (Association producer organization) cucumbers and tomatoes, producer Mordelles, west of Rennes.

Brittany produces half of the tomatoes of the Hexagon, 30% from the Deep South and the rest of the Nantes region. "After a week of total absence of trade in vegetables, we are angry because we have no alternative but to destroy our production," said Louis Vinet representing growers Nantes, tripling affected no fax cash advance.

Salads down 20%

However, it is too early to assess damage on sales of salad, vegetable of which the French are especially fond of this heat – they consume nearly 7 pounds per year -."The production is spread among a multitude of gardening and it is more difficult to gather the numbers," says Angelique Delahaye.

The only certainty in Rungis, Ile de France, the second producing region of the Hexagon salads, "salads sold volumes dropped 20% in a dynamic market, however, except of course the cucumbers fall of 80%," says Michel Lemelin, president of the union of wholesale fruit and vegetable market of Rungis.

In this difficult context, French producers can always relativize their misfortune by saying that the situation is worse elsewhere. Particularly in the Iberian Peninsula. The Spanish Federation of Producers exporting fruits and vegetables (FEPEX) estimated losses on Tuesday "to about 200 million euros per week" for the entire sector, citing a "domino effect" affecting other Spanish products."All fruits and vegetables were impacted by Spain. Fortunately in France strawberries, zucchini, eggplant and continue to sell, "relativize Angelique Delahaye.

To break this cycle, the European Ministers of Agriculture are scheduled to meet around 17 June in Luxembourg for a special meeting on the subject.

The Paris Bourse, which ended the session last night in the red, opened sharply higher on Friday before slowing its progression. Following the announcement by Fitch with a view to lowering the rating of Japan from stable to negative, the CAC 40 progressed still further by 0.81% to 3949.04 points in mid-session. A development that contrasts with the reluctance that dominates world markets. This morning, in fact, Asian stock markets have shown sluggish, and last night in New York, the trend was too timid on the bottom of the front indicators disappointing growth and employment United States. The sharp rise recorded in Paris due to the surge in bank stocks, automobiles and oil.

The news is mainly directed towards the G8.The International Monetary Fund (IMF) has warned that he would continue to make its aid Greece that if he got "assurances" that the country is able to repay the money. "When we lend money, it is not I who do this are all over the world that lend to Greece," said Director of External Relations of the Fund, Caroline Atkinson. Moreover, during the G8, the IMF has proposed aid up to 35 billion euros to support the Arab countries. On the other hand, the international community must "lend its support to Côte d'Ivoire for its development," called the Ivorian president Alassane Ouattara, who estimates it takes between 15 and 20 billion euros for his country.

The euro to over $ 1.42

Side economic statistics, nothing is planned in France.In Europe, however, the economic sentiment deteriorated more than expected in May in the euro area, optimism ceding ground in all sectors, according to data released Friday by the European Commission.

Note that a meeting of European telecom ministers held in Brussels today. United States, expenditures and household incomes (April), consumer confidence from the University of Michigan (May) and promises of housing sales (May) are expected.

On the currency front, the euro fell back against the dollar and is trading at mid-day to more than $ 1.42, reaching 1.4216 dollars around 12:25 pm precisely. The dollar weakened with poor indicators published yesterday.However, he recorded a new record low against the Swiss franc, the concerns on debt in Europe getting the upper hand despite speculation about increased Chinese investments in European debt. The President of the European Central Bank Jean-Claude Trichet said a further rise in rates of the euro area will not be immediate, says the Wall Street Journal.

The oil rating over 100 dollars in New York.

The rating of Dexia was suspended

Ingenico is leading the SBF120 in mid-session, up 5.72% to 32.35 euros, in view of the benefits of contactless payment system launched by Google and ensure the French group which participates.

Derichebourg once more took 2.82% mid-term. The CAC, it is the banks where smiling.Credit Agricole, BNP Paribas, Societe Generale, Natixis and Axa rise by 4%, 1.84%, 1.92%, 1.33% and 0.76%.

Some European banks, including French Societe Generale and BNP Paribas could avoid in part the prudential standards called Basel III, according to a draft text quoted by the Financial Times. In addition, Citi has gone to "overweight" on BNP Paribas, one of his favorite European banks.

Note that the listing of Dexia was suspended on the Paris Bourse, at the request of the Belgian regulator.Trading will resume when the "appropriate information" will be published.

Accor stands: + 1.03% to 31.26 euros, while the values ​​of the car, Michelin, Peugeot and Renault are also oriented, with respective increases of 0.85%, 1.11% and 0.56%.

However, the latter manufacturer, sales show a 35% drop since early May and the French car manufacturer is concerned that this situation might continue a few more months, the BFM radio reported Friday. This drop in sales has forced some dealers to concede significant price reductions with "discounts" of up to 45% on certain models of Clio, the station added. Furthermore, Renault early 2012 a small entry level car developed in India on a platform of low-cost Nissan, La Tribune reported Friday.

Areva.The subsidiary of Areva's mining pole should be subject to the approval of the supervisory board of the company July 21, said Thursday the European Group Committee (CEM) of nuclear specialist public.

EADS (-0.42% to 22.41 euros) confirmed the date of first delivery of Airbus A350, but one of the airlines, estimates that two or three variations of this device could be delayed by six months, reports The Figaro on Friday. According to Flight International, Qatar Airways may order A380s at Paris Air Show.

Dassault Aviation (1.01% to 702.12 euros). The entire business jet Falcon 7X group were grounded after an incident in flight on one of these devices, announced the European Aviation Safety Agency (EASA).

Veolia (0.58% to 20.66 euros).The share of international activities of the group should increase in coming years, thanks to expected growth in Asia and North America, said Thursday the Director of International Affairs Group of utilities.

This Friday, Ipsen and Alcatel-Lucent will hold their general meeting.

Wolfgang Schäuble confirmed and signed. At the risk of alienating France and the ECB, the German Finance Minister said yesterday that "the time has come" to pay to banks and private investors holding the bag in the crisis of sovereign debt. "It's a question of moral responsibility, said the German official. Ultimately, investors – and that includes of course the European bond holders – must support both the risks and the benefits of their investment. In recent crises, it is almost exclusively the taxpayers who have borne the loss. This is unacceptable! "

The offensive seeks to convince partners of Germany, when the bloc about to lock a permanent mechanism for rescue of troubled countries. Joined the menu of the June EU summit, the European Stability Mechanism (SPM) should enter into operation in 2013.But in the midst of controversy over a possible debt forgiveness in favor of Athens, Wolfgang Schäuble furbishes also the weapons of those who argue that the creditor banks should immediately take their share of the burden.

Market Discipline

The replica of the European Central Bank did not take long. The chief economist Juergen Stark has denounced as a "catastrophe" scenario of a debt restructuring Greek. It would cause, he said, "collapse" of the economy and banking system in the country. Across the eurozone, it would complicate the use of borrowing for other troubled countries. It would kill the plans in the bud "adjustment" set up for Ireland and Portugal. For Vice-President of the ECB's Vitor Constancio, "The debt restructuring should remain what it is, a final and last resort."

France, she is sticking to its position."It is beyond question, be it restructuring, rescheduling or debt reprofiling, Tuesday assured Christine Lagarde. The only issue at stake is the determination of Greece to implement the program, "austerity negotiated with the EU, the IMF and the ECB.

Expected at the forum yesterday in Brussels, the French minister was canceled. We need more to convince markets that the succession process rigor imposed on Greece, Ireland and Portugal may succeed.

"The political risk of alienating voters'

Deutsche Bank expects a debt forgiveness of 50% to allow Greece to start on a sound footing. "Nobody can argue that Europe now has a satisfactory system rescue, said its chief economist Thomas Mayer.Banks should, too, suffer the discipline of the market and fail if necessary "under the weight of bad loans.

Wolfgang Schäuble added to demonstrate a political argument to deflect the rise of populism. "To constantly refloat private investors, policy makers may simply alienate European voters. It's not for nothing that the EU institutions are perceived as distant, technocratic and locked in a world of impenetrable jargon and insider trading. "To constantly refloat private investors, policymakers may s alienate voters in Europe … "

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»COMPUTER GRAPHICS – These figures make the misfortune of the Greeks

Despite the crisis, the 1000 British richest people saw their wealth rise by an average of 18% over the last twelve months, reaching 452 billion euros, according to the annual ranking of The Sunday Times. With 20 billion euros, the steel magnate Lakshmi Mittal is the leader, even if he has suffered the greatest loss, 22%, due to the decrease of its shares, followed by two Russian oligarchs, Alisher Usmanov , another steel giant, and Roman Abramovich, owner of the famous football club Chelsea direct payday lenders.

In a country with 73 billionaires, against 53 last year and 75 before the crisis, Queen n 'PAGE arrives at the 257th place with an estate valued at 300 million pounds, up 3%. This circle has 108 women in total.