Not easy for a luxury hotel to establish itself in Paris. While the Mandarin Oriental opens its doors Tuesday, the Royal Monceau (Raffles Paris) and the Shangri-La, opened in October and in December, are still far from displaying the performance of established luxury hotels in the capital, such as the Plaza Athénée or Bristol. Nothing particularly surprising. "A hotel needs two or three years to register as a sustained market, says Gabriel Matar, France Director at Jones Lang LaSalle Hotels. They fail in a market empty of competitors. "

Le Royal Monceau and the Shangri-La certainly contribute to stimulate demand, which is expected to grow 6 to 7% this year. "But they are taking market share than the least well positioned hotels, says Gabriel Matar. The leaders of high-end such as Bristol, the Plaza Athénée and the George V, were not affected.Their occupancy rate improved even since January, and exceeds 75%. "François Delahaye, boss of Dorchester (Meurice and Plaza Athénée), agrees:" It was never as well. We take the same market share. Those losing ground are those who have not invested. "

Le Royal Monceau and the Shangri-La readily admit they have not yet reached their cruising speed. Le Royal Monceau has not yet opened 35 rooms set on 149. Spa and pool will be operational in July. The Shangri-La for its part, announced the inauguration of a new Chinese restaurant on September 8, the third table, but its spa and swimming pool will not be ready until early 2012.

Change of direction at the Royal Monceau

"The results of the first six months of opening is very positive," says Alain Borgers, general manager of Shangri-La. The hotel has attracted its share of celebrities faxless pay day loans.Isabelle Adjani and Jean Reno are down. A son of King Fahd came to the family, occupying much of the hotel for two weeks. "As we expected, we are in the top 3 most expensive hotels in Paris, with an average price above 900 euros, welcomes Alain Borgers. We earn ten points each month occupancy. " This rate should be around 75% in June, with the aim of achieving an average of 80% over the next twelve months. "With the Paris Air Show, we will post full last week, says Alain Borgers. The Imperial Suite, which costs 18,000 euros a night, is busy throughout the month of July. " The Shangri-La, the first hotel chain in Europe who are 72 Asian in the world, located in a building registered in the Buildings of France, was first attracted the French, the Parisians especially at first.They represented up to 40% of hotel guests the first week. "Asians represent 12% of our customers, says Alain Borgers. This rate could rise to 20%. "

At the Royal Monceau, too, the French were the first to discover the hotel. They still represent about 30% of the customers, to the Americans and customers in the Middle East. But the situation is more tense. The Director General, Sylvain Ercoli, just left his post. His replacement is imminent, but it has not yet been announced. "The first two months were difficult. But we have a three-year plan, said Diana Banks, Vice President Sales and Marketing at Raffles.We always aim an occupancy rate of 50% by the end of the year, with prices that start at 780 euros a night. "

ALSO READ:

"The Ritz at the dawn of the Renaissance

"The list of eight palaces causes amazement

The mood remains gloomy in the Paris Stock Exchange on Thursday. In the wake of a meeting which saw the CAC 40abandonner 1.49%, morale remains low. At midterm, the Paris index lost another 1.32% to 3756.41 points. With this new decline, the CAC 40 is now in a loss of 1.27% since the beginning of the year.

The LSE has also opened lower, the FTSE-100 index lost 0.86% at 7053.75 points. The Dax in Frankfurt following the movement with a decline of 1.74% to 5673 points.

This bad mood, which led to Wall Street and Asian markets this morning in the dark wheel is mainly due to Greece. Indeed, the financial and political situation of the country bogged down. The extraordinary meeting of finance ministers ended in failure Thursday, Europeans who are unable to agree on the role of private creditors in the new relief measures.Meanwhile, violent demonstrations took place before the parliament of the country, forcing the Prime Minister George Papandreou has announced a reshuffle of his government to be held this Thursday, when he called for a vote of confidence in parliament.

Concern has also been strengthened by the publication in the U.S., macroeconomic statistics disappointing. The U.S. recovery has yet shown signs of weakness yesterday, especially in the industry.

Program loaded overseas

This Thursday, in addition to Greece, the eyes are again turned to the United States.The schedule of publications of indicators is still in effect with the American program: the current account of the first quarter, weekly jobless claims, housing starts for new homes and the index of manufacturing activity in the Philadelphia area.

In the euro area, consumer prices rose 2.7% yoy, from 2.8% in April, according to Eurostat's second estimate similar to the first made in late May.

On the currency side, the Greek situation causes the euro down. 11:15 to Paris, the single European currency was worth 1.4118 dollars against 1.4182 dollars late Wednesday, after falling to 1.4090 dollars in the morning, the lowest since three weeks. Meanwhile, oil prices rebounded due to bargain hunting.A barrel of light sweet crude for July delivery gained 48 cents to 95.29 dollars while that of Brent North Sea crude for delivery same progressed from 99 cents to 114 dollars. Investors buy oil after the sharp decline yesterday, which saw prices go below $ 95 a barrel. "We have a return to an area of ​​support that goes back to January 2011. This is especially a key level to advance to the purchase, "said Djillali Hacid, technical analyst at XTB.

Values ​​to follow

Banking

French banking stocks were again attacked on Thursday. They are among the largest declines the CAC 40. Societe Generale lost 3.28% to 37.50 euros, Crédit Agricole loose 2.77% to 9.63 euros, BNP Paribas was down 2.20% to 50.17 euros. Axa and Natixis follow the trend with decreases of 3.60% to 14.60 euros and 1.37% to 3.45 euros.Dexia unscrews for its share of 4.56% to 2.15 euros.

Areva: -2.80% to 25.31 euros Eramet: -1.83% to 217.50 euros

Luke Oursel, deputy CEO of Areva, is the favorite to replace Anne Lauvergeon head of French nuclear specialist, reports the newspaper La Tribune.In addition, the group has extended for six months its shareholders in companies with Eramet Sorame and CEIR representing the shareholders of the family Duvan.

Bull: -1.47% to 4.68 euros

The French computer group announced Thursday a plan to recruit a thousand employees for 2011, including 400 in France, mostly young graduates.

Sanofi: -0.92% to 51.43 euros

The group announced Thursday the signing of a research collaboration of two years with the Dutch biotechnology company Audion Therapeutics for development of potential treatments for hearing loss.

EADS: + 0.65% to 21.53 euros

The low cost carrier Philippine Cebu Air said Thursday it had concluded a $ 3.8 billion with Airbus for an order for 30 A321s and seven A320s.

Renault: -1.16% to 36.27 euros

The Renault-Nissan is about to take control of Russian automaker AvtoVAZ, an acquisition that would propel the world's third largest, said Thursday the Japanese newspaper Nikkei.

L'Oreal: -1.18% to 84.39 euros

The businessman Stephane Courbit explained in a letter to Liliane Bettencourt why he wants to break the financial partnership that had just concluded the boss Lov group and the heir to L'Oreal.

Total: -0.58% to 37.52 euros

The tanker has completed its friendly takeover bid of about $ 1.3 billion U.S. dollars on SunPower, a majority of shareholders of the company specialized in solar panels have agreed to tender their shares.

Eurosic: + 0.56% to 33.99 euros

Batipart, family holding company specializing in real estate, will launch a takeover bid for Eurosic in the coming weeks after the sale and Nexity Bank Palatine of all of their shares in the specialist real estate office.

Vivendi: -0.22% to 18.13 euros

Between September and the summer of 2012, SFR will resume rays telephone 80 Fnac stores in France.

France Telecom: -0.49% to 14.21 euros

The operator announced Wednesday it had issued 670 million euros maturing 2019 and 2021.

Perno Ricard: -0.42% to 66.46 euros

The group announced Wednesday that its board had decided to pay an interim dividend of 67 cents per share.

After market, Zodiac Aerospace Announce Revenues for the third quarter.

"QUIZ Estimate the Cac 40 in late June

The International Agency for Research on Cancer (IARC) of WHO said Tuesday that the use of mobile phones should be considered as "possibly carcinogenic to humans". This announcement comes after a meeting that brought together for eight days in Lyon thirty experts from 14 countries, could generate much response. In reality, this classification reveals uncertainty experts face a potential risk. Besides mobile phones, the decision also applies to other wireless phones.

"The evidence continues to accumulate that are strong enough to warrant classification at 2B (one of five levels of classification that defines product" possibly carcinogenic "to humans, Ed)," said Jonathan Samet , chairman of the working group, during a telephone press conference."The working group based this classification (…) on epidemiological studies showing an increased risk of glioma, a type of brain cancer associated with the use of wireless phones," he said. This ranking means he believes that "there may be a risk, and therefore we must closely monitor the link between mobile phones and cancer risk."

Tumors of the auditory nerve

Experts have analyzed hundreds of studies already published on the subject short term personal loan. The possible association between wireless phones and cancer focuses on gliomas and acoustic neuromas, tumors of the auditory nerve. The potential risk involved rather large users (thirty minutes per day for over ten years). Experts believe that further studies are needed long term to refine this classification.Meanwhile, they ask that pragmatic measures such as promotion of hands-free, are taken to reduce personal exposure.

In contrast, radar, microwaves and radio signal transmitters, television or wireless telecommunications (masts) were not classified due to insufficient data.

The World Health Organization classifies products or agents used by humans into five groups according to their risk of cancer. Group 1 identifies the 107 carcinogenic to humans. Group 2A, so-called "probably carcinogenic" (59), 2B substances "possibly carcinogenic" (266), group 3, the agents "unclassifiable" and group 4, the "probably not carcinogenic."

ALSO READ:

The experts divided about the risks of mobile

"The greatest concern that mobile phone masts

All real estate transactions involve the payment of notary fees. The note, which is completing the acquisition process where the buyer is usually borrow more or less important to his bank, still seems a bit expensive … especially if one confuses notary fees, and fees. Fees, expenses, registration fees … Mazodier Carolina, a journalist with the monthly individual, decrypts the invoice.

The player has to use default in the articles of figaro.fr. maj1

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 … "

ALSO READ:

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

A week after the fact, Sony has finally explained the night of 26 April (Paris time), that hackers had stolen the names, addresses, birth dates, passwords and probably the numbers of cards 77 million account holders of its service online video games, PlayStation Network. This service generates approximately $ 500 million in annual sales.

Sony says, however, does not have formal proof that card numbers were stolen, but "can not exclude the possibility". However, hackers do not hold the three issues of cryptograms (on back of card) needed to carry out a transaction online.

$ 24 billion loss

According to the Ponemon Institute, a computer security specialist, the cost of an act of piracy is on average $ 318 per folder.that would cause the injury suffered not wait to 24 billion.

Reactions to the announcement are more virulent quick cash. Japanese media and Anglo-Saxon Unleashed. The group apparently waited to unveil its new tablet before announcing hackers. This lack of reactivity is not reminiscent of Toyota, in a similar context. It had cost the CEO his job by the manufacturer.

The consequences of the attack beyond just the PlayStation Network and Qriocity, its online service platform, the two spearhead Sony's entry point into his world for winning new customers and get them to equipped largely by Sony. The attack against the Japanese giant has been April 19 will probably remain as one of the worst crises in its history.

Sony has announced that it would take another week before restarting its network and enable its customers to play online. But nothing says that all will be waiting for you.

After some hesitation, the euro was again driven up, dollar at 1.4220 on Monday early evening, against $ 1.41 on Friday evening, after concerted action by the G7 to ease the course the Japanese currency. The yen remained, he, always a downward trend, losing 0.7% against the dollar after dropping 2% Friday and 0.6% against the European currency.

Parallel to the stock market recovery, the rebound of the euro reveals a new investor appetite for risky assets, while the Japanese nuclear disaster appears to be cooling."But beware: this movement may be tempered by the evolution of the military situation in Libya," warns Michael Hewson, CMC Markets, the interest of financial markets having moved on for a week -end of the central suburbs of Tripoli in Fukushima …

"Confidence in the euro area is gradually returning," said Kathy Lien, currency trader for GFT Forex in New York, quoted by Bloomberg. "Despite the threats to certain liabilities of the euro area, foreign investors can not ignore this region of the globe."

Monetary stance

The orientation of European monetary policy more sensitive to inflation threat than it is in the United States or in Britain, uses the euro for three weeks low fee payday loans.The European Central Bank said in early March, she was ready to go back next month its key interest rate to avoid "second-round effects" of inflation, that is to say a contagion Imported oil prices to other prices and wages. Having feared a major impact of the disaster on Japan the euro area, and abandoned its proposal, the European Central Bank would be generally prepared to raise its interest rates at its next meeting. On Monday, the announcement by the U.S. Treasury at the beginning of the resale of mortgages – 10 billion dollars a month – has to bend the euro against the dollar.

But the European currency has resumed soon, because despite the resale of assets, the Fed seems determined to maintain a highly accommodative monetary policy during the coming months to support the recovery very slow labor market.Despite an inflation target well above the Bank of England is also very divided on whether to tighten its monetary policy. As for the Bank of Japan, it stands ready to inject as much liquidity as necessary to avoid the financial collapse of the Archipelago.

Unparalleled catastrophe experienced by Japan will lead to a severe impact on the accounts of insurers. The industry giant, AIG, announced Friday night that these events will cause a gross loss of $ 700 million (493 million) at its insurance arm injury Chartis.

In total, the insurer expects a gross loss of $ 1 billion (705 million euros) for its subsidiary in the first quarter 2011, a hole of $ 900 million after tax (635 million euros). In addition to the cost of the disaster Japanese, this loss is cut by "preliminary costs associated with the New Zealand earthquake, winter storms in the U.S., Australian and Brazilian floods and Cyclone Yasi in Australia," says AIG.

The bill may still rise, warns insurer American.This preliminary estimate does not take into account the group's participation in public reinsurer JERC Japanese (Japanese Earthquake Reinsurance Company) responsible for pooling the risks to the sector and to compensate victims of an earthquake on the archipelago.

Uncertain cost

A little over a week after the Japanese earthquake, opinions differ as to the cost of catastrophe for the insurance industry and reinsurance. According to risk modeling company EQECAT, the bill would rise between 12 and 25 billion dollars (12 to 17.6 billion euros). A range that would make it the most expensive natural disaster in history. But this estimate remains below that of another specialist, AIR Worldwide, which expects losses of between 15 to 35 billion dollars (10.6 and 24.6 billion euros).

The rating agencies consider that these figures do not endanger the insurers and reinsurers. "The losses should be absorbed by the sector without causing serious solvency problem or special financial strains," said Fitch Ratings in a note published Friday. Her colleague Standard & Poor's added that insurers have a strong financial position to face these hardships.

All, however, remains cautious. The cost of the disaster could still be revised upwards. And, as the consequences of the nuclear accident in Fukushima on the health of survivors, yet unmeasurable, insurers in the coming years could be heavily involved.

ALSO READ:

"Tokyo ready to release $ 127 billion

"The G7 has been operating successfully to weaken the yen

"INTERVIEW -" The economic impact will be greater than Kobe

"Japan: Risk-chain for global growth

The hesitation is expected to dominate the Cac 40 on Wednesday as shown on the future index showed a slight decrease from 0.22% to 3775 points. Parisian operators could indeed follow the positive momentum from Asia this morning, which allowed the Japanese Nikkei to close on a technical leap of 5.68%, and led the other places in the region in green. Intensive hunting for bargains in the indices increased in a climate a bit calmer after further intervention by the Bank of Japan (BoJ). This has injected 3.5 trillion yen Wednesday (31 billion euros) in the money market, bringing to 26,500 billion yen (234 billion) the total sum provided by the BoJ to the interbank market since Monday.

In Paris, the operators could also benefit from securities sold off after a session where the CAC 40 lost 2.51%.The drop yesterday was in fact widespread in all European markets, and also affected but to a lesser extent, U.S. exchanges.

However, the trust is not fully restored while the nuclear situation in Japan remains very critical. Radioactivity measured at the entrance to the central Fukushima reached a new peak around 10:45 am local time, reported the Japanese Nuclear Safety Agency. "The level of radioactivity near the entrance varies greatly from hour to hour at levels that continue to be harmful to health," said government spokesman Yukio Edano. In addition, a strong earthquake occurred Wednesday at mid-day (this morning in Paris) east of Tokyo, where buildings have long trembled.

New flurry of indicators in the program

Markets should also keep an eye on indicators of the day, again numerous.In Europe, registrations of new cars rose 0.9% yoy in February, the first bounce after ten consecutive months of declines, according to figures released Wednesday by the European Automobile Manufacturers Association (Acea).

Has yet to be released price index last month's consumption for the euro area. United States, the Labor Department will publish the price index for production at 13.30. At the same time will the housing starts and the balance of current accounts. Finally, at 15:30 will be published weekly petroleum stocks.

On the currency markets, the euro has stabilized at 1.3977 dollar.

Values ​​to follow

The reaction of securities exposed to the disaster Japanese will again be monitored.Among them, Areva, Scor, PPR or LVHM guaranteed pay day loans.

EDF

The electrician French and Italian A2a confirmed Tuesday the six-month extension of their shareholder pact in Edison to take the time to reach agreement on the restructuring of their partnership.

In addition, the group is preparing to send "teams" and "equipment" in Japan to help the company Tokyo Electric Power (TEPCO), which operates the nuclear plant in Fukushima, cope with the consequences of the tsunami, said Wednesday the company's CEO, Henri Proglio on RTL.

L'Oreal

The president of Yves Saint Laurent Beauté, a subsidiary of LVMH, told Reuters that his company intends to almost double its turnover in five years to reach the one billion euros, thanks to the lever Asian and climb well the club of top five global brands of cosmetics.

Alstom

The CEO of Alstom, Patrick Kron, said he still opposed the entry of Mitsubishi Heavy Industries in the capital of Areva.

Renault

The money paid by the manufacturer to pay the false information intended to support the charges of espionage brought against three of its executives has been partially solved in a Swiss bank account opened by one of his security guards, shackled Duck wrote on Wednesday.

Bollore is optimistic

Bourbon

The group released Wednesday 2010 earnings fell sharply, mainly because of difficult market conditions, but the group estimated that the average utilization rate of its fleet to continue to improve gradually.

Transgene

The group referred to tackle 2011 with confidence even though the French biotechnology company has continued to widen its loss in 2010 and some of his projects have been delayed.

Mersen

The group said Wednesday expect for 2011 a slight improvement in profitability and renewed growth, albeit slow, its sales from the electronics and solar energy.

Bolloré

The group reported a 40% increase in operating profit in 2010 thanks to its growing transport business, logistics and port handling.

Zodiac Aerospace

The group raised its revenue forecast for 2010-2011 after a second quarter better than expected thanks to the recovery of the aviation sector.

EPA will report on its February traffic. Ruby, Stallergenes and Boiron reveal their annual results after market close.

"France has lost 84 billion with the crisis

"Volume of hours worked inadequate

"Higher taxes elsewhere

"The share of wages in the highest in 15 years

"A rapid rise in labor costs

The presidential campaign has begun. The MEDEF, at least, with the publication of "Showdown", the diagnosis of the French economy performed every two years by the employers' organization. "It must be the basis of all discussions, all ideas, all thoughts that may be presented in 2012, said Laurence Parisot.

"" Be positive, "said Laurence," said Pierre Nanterme, head of Accenture, president of the Economic Committee of the MEDEF, and as pilot of the book. Yet the picture is invariably dark. French companies suffer from a lack of structural competitiveness.The crisis is over there and has exacerbated the situation. Companies have seen their margin drop below 30%, its lowest level for twenty-five years. "A diagnosis beyond doubt is already at half of the solutions," says Pierre Nanterme.

But the report does not avoid some minor provocations likely to generate controversy with the unions.Noting that the share of wages in value added increased by 3 points in ten years to reach 67.7%, Medef pretends to be concerned: "France is the only country where wages are rising faster than production This is not sustainable unless further weakening the competitiveness of businesses. "The fault, a little to rising wage income – especially with the increase in the minimum wage during the 35 hours – and much to the heavier taxes levied on wages (payroll, 1% housing, transport payments business cards…).

Fighting "equal footing"

But it regards the importance of taxation that Medef goes furthest in challenging the industry standard is to calculate the weight of tax burden (taxes and charges) to GDP."This calculation underestimates the burden of compulsory contributions paid by the private sector in countries where the public sector contributes significantly to GDP," says one in the organization of Grove Street. The latter proposes to measure the weight of taxes paid by businesses compared with 1.1 trillion of wealth they actually occur. Seen in this light, the tax burden represent 26.4% of the value added of French companies. "It's like siel had to work until mid-April to pay their charges and taxes," said the MEDEF, whereas in England they are working "for them" early March and Germany in mid- February. Conclusion: French companies are not fighting "equal footing" with their rivals, Pierre Nanterme regrets.Laurence Parisot judge therefore urgent to return to a "fair competitiveness" – the motto for a year.

It goes through five levers: better guide young people, encouraging research, reduce labor costs, reduce levies on businesses, improve the efficiency of public expenditure. How? The specific responses are returned at the end of the year, when the MEDEF released after "Need air," his book-2007 program. The President of the MEDEF, which likes anglicisms, has the art of teasing.

France has lost 84 billion with the crisis