TEPCO Fukushima after CEO changes

The natural disaster that shook Japan on March 11 and caused a serious nuclear accident in history, affecting badly the Japanese utility Tokyo Electric Power (TEPCO). The company reported a net loss record 11 billion euros (1.25 trillion yen) on Friday morning, well above the 9 billion expected by the Japanese press. It is the worst deficit recorded by a Japanese non-financial group. The earthquake and the tsunami have paralyzed much of its central activity based in Fukushima, a city northeast of the country now known worldwide. For more than two months in fact, at least four of six reactors on the site are stopped. Before the event, Tepco expected a net profit of 1 billion euros.

Another important announcement this morning by Tepco: Masataka Shimizu's resignation.It must be said that his handling of the crisis has been sharply criticized in Japan and the rest of the world. Particularly for its lack of transparency in the first moments following the disaster. He will be succeeded by Toshio Nishizawa, the current CEO of the group.

State utilities and banks to contribute

The future already looks difficult for TEPCO. The operator had to call for help from the Japanese government. In a request sent on 10 May at the Japanese government, the third largest producer of electricity in the Archipelago evokes an immediate need 8.7 billion euros. Very quickly, the Japanese government has responded, putting Tepco under its control and disclose its financial rescue plan."The purpose of this plan is not to bail Tepco, said Friday the Japanese Minister of Economy, but to ensure that victims are compensated properly," he commented.

TEPCO has indeed compensate the 85,000 victims of the nuclear accident. A bill that could total between 25 and 43 billion euros, according to local press. Thus the state ensures that dip into its funds and requires the efforts of other private electricity companies in the country. Even banks will tighten their belts: they have provided a loan of 1.4 trillion yen (11.7 billion euros) to Tepco are asked to waive a portion of their claims vis-à-vis the operator .

For its part, TEPCO must, of course, participate in a pinch.The group will include transfer of financial assets and properties in order to concentrate its resources on the production and distribution of electricity. In addition, the eight most senior executives of the company will also waive any compensation and personnel managers to ordinary workers, will also undergo substantial pay cuts.

In exchange, Tepco falls again

This Friday morning in Tokyo, the title has finished Tepco small increase of 0.54% before the results are published in the group. Since, in trade-off meeting at the New York Stock Exchange, the action Tepco listed on Wall Street tumbles 9.6% and is only worth 4.45 dollars. So since March 11, the title collapsed by 83%. Investors, cooled the past two months, do not see Tepco bounce soon.While its nuclear activity has melted, the group had to increase production at its thermal power plants to continue to supply the population. However, this has a cost of hydrocarbons, which could cost another 8.7 billion uros on the current tax year.

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French football wants to change the economic model

French professional football tries to lift his head. Sealed by a record deficit of 130 million euros in 2009-2010, the clubs in Ligue 1 and Ligue 2 will reduce to ten million in 2010-2011, according to the report released Tuesday by the Professional Football League (LFP ). A decrease of 92.3%.

This figure is only "a trend indicator" as FIFA confirms a trend that French football would establish a new economic model. His priority? Reduce payroll clubs. On the occasion of the next transfer market, which will open next June, the slogan will sell more buying. This creed, which is reminiscent of financial fair play that UEFA president Michel Platini wants to introduce from the 2014-2015 season seems to have resonated with the clubs."There will be no madness this summer, it's absolutely clear! It will get rid of some players and look for one or two that are free (of any contract with a club, Ed), Jean-Claude Dassier said in an interview with France Football magazine last March.

Delays in the transfer market

Professional clubs are also counting on the development of new sources of revenue in the medium term. In addition to opening paris online, they rely on the prospect of Euro 2016 and the construction of stadiums new generation, which should grow revenue at 25% of budgets against 15% currently.This will, according to Jean-Pierre Louvel, president of the Union of professional football clubs, "a real growth driver."

If the PSA highlights the efforts made by the elite of French football in reducing the wage bill in particular, it notes that "the majority of them are lagging behind their goal." While clubs rely on 264 million euros of capital gains on transfers, the LFP states that "only 41% of capital gains on disposal of players" have been made to date against 75% to 80% on time normal. "The business model of European football is unsustainable," says Olivier Ferrand, president of Terra Nova, co-author of "Change or die: what future for European football?" In La Tribune. The purge is necessary and must take place now. "The establishment of financial fair play, which aims to limit debt clubs, will be effective in only three years.

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Conflicts on wages in enterprises

Carrefour unions must decide before the end of the week on the new pay proposals of management, after a strike followed very Saturday, April 9. TF, the main organization of the group, announced it would sign. The agreement includes a 2% increase to 220 euros gross premium.

In recent weeks, wage disputes have increased, fueled by the resurgence of inflation. Employees of Toyota and Eiffage ended their movements for several weeks, while those of Ferrero blocked the production of Nutella in Normandy. Other stoppages took place in recent weeks among automotive suppliers, with General Motors in Strasbourg, Thales, Equant, Camaïeu in the North, or even the U.S. giant Procter & Gamble.

The period of mandatory annual wage negotiations may be over, disputes are continuing."This follows a wave of wage moderation: the average increases of 3% before the financial crisis fallout between 2 and 2.5% for two years in large companies. Expectations in terms of changes in purchasing power have been disappointed, "said Richard Anthony, the Cabinet Business and Personal. According to Hewitt, the average increases would be limited to 2.6% in 2011, against 3.3 to 3.5% during the last thirty years paydayloan.

The purchasing power in question

The hopes raised by the return to healthy profits for big groups seem to turn into a continuing practice of wage moderation. "Companies lack the visibility and maintain a degree of caution," explains Sophia Kettani, in charge of compensation issues at Towers Watson. Employees feel they miss out of looming crisis.The government wants to regain control of the issue, seeking to link dividend and bonus pay. Conceived as binding, the measure has sparked the ire of employers and the skepticism of some trade unions and could become optional.

"The question of purchasing power arises, but we must look at the payroll as a whole. There are already ways to meet them, as the Law on Supplements Incentive in December 2008. However, if one takes into account increases in remuneration packages are around 3%. Companies generally seem to have taken account of the context, "said Jean-Christophe Sciberras, president of the association ANDRH.

Carrefour at home Camaïeu, if the increases are limited to 2%, the agreements provide more incentives and higher discount rates in the stores for staff, for example.

Japan's economy is paralyzed

Not a single car is out of the manufacturers plants yesterday, three days after the earthquake that struck Japan on Friday. Toyota, Honda, Nissan, Renault's partner in the Archipelago, had discontinued production of not knowing when they would resume. Mitsubishi Motors has closed its units left Aichi, Gifu and Okayama and will not open today.

Some of their production centers are located in the northeast area is devastated by the earthquake and tsunami, but all are affected, unable to procure spare parts. Toyota, with 12 factories are closed now lose $ 72 million per day. The car, running lean for stocks as low as possible, is paralyzed from a link in the chain flu.PSA Peugeot Citroën is indirectly affected: electric cars Peugeot and Citroen iOn are manufactured at Mitsubishi.

The energy shortage is real

The Sendai area, closest to the epicenter of the earthquake, is also an important industrial center for electronics, telecommunications and machine tools. Sony has frozen seven sites and one of its plants in Blu-ray is flooded. Canon, world's leading producer of cameras, has warned that he risked arrest eight of its plants. His rival Panasonic has already suspended some of its production.

The semiconductor industry is also likely to be particularly affected. According to the IHS firm iSuppli, Japan accounted for 20.9% of the global market last year.Two manufacturers, Shin-Etsu and Sunco, providing silicon wafers, have announced plant closings.

Everywhere, the reduction of production capacity is compounded by shortages of electricity, interruption of rail traffic, the collapse of roads and port closures. East Japan Railways, which serves the suburbs of Tokyo, is able to ensure that 20% of its normal traffic. The cessation of nuclear power plants will cause an energy deficit of 4,700 megawatts. "Tokyo Electric Power has introduced blackouts to regulate demand," said Arnaud Bauduin, a specialist on Japan at OFI Asset Management.Similarly, 20% of refining capacity is currently suspended. "

After stopping all production after the tsunami, the fourth largest global steel, Nippon Steel, took over the supply of all its sites, except that of Kaimishi near the area hit by the disaster. Rival JFE has meanwhile revealed yesterday that he was forced to stop supplying a site near Tokyo due to a problem of energy supply.

At the Tokyo Stock Exchange, which fell 6.18% yesterday, all the industrial stocks were battered. Nissan lost 9.5%, Honda 6.5% and Tokyo Electric Power (TEPCO) plunged 23.5%.

Credit Suisse figure to 122 billion euros or 129 damage, about "40% of the damage caused by the earthquake in Kobe in 1995, stressing that the region has fewer offices, fewer plants and fewer highways .

Supplementary budget

The Japanese economy, driven by its exports, was already weakened by soaring oil prices and a rebound in Europe and still hesitant in the United States. It will be difficult to recover. Nomura expects that GDP (gross domestic product) in the country, which contracted by 1.3% in the fourth quarter of 2010, may not return until the third or fourth quarter of this year. The archipelago, say the analysts of the firm, must also take into account a possible drop in domestic consumption.

Despite this, the rating agency Moody's, which stresses the importance of saving Japanese, does not provide an immediate fiscal crisis. It is betting instead on government spending that will be needed for reconstruction and can help accelerate recovery of the Japanese economy.This does not prevent the opposition already ask the government a supplementary budget for fiscal year ending March 31.

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SNCF users on strike

Subscriber line SNCF Angers-Le Mans-Paris observed a "strike" have their tickets in protest against the degradation of service provided by the carrier rail. "From 160 to 200 subscribers who make a daily commute in Paris gather in the bar cars from their trains with badges" Subscribers on strike "and refuse to show their tickets," told AFP Pascal Mignot A spokesman of this movement, stating that controllers showed "very understanding".

"There is a clear degradation of service, for which we pay dearly, with repeated delays professionally very damaging," he said. This movement, which is not yet incorporated association also requires compensation for days lost during transport strikes in the fall, and sent a "letter of complaint" to the station."We want to extend the movement Tuesday lines Lille-Paris-Tours Paris, Reims and Paris-Lyon-Paris," said Pascal Mignot. An appointment with the regional branch of the Loire was scheduled for Friday afternoon.

A petition with more than 7,500 signatures

Meanwhile, a national petition launched at Le Mans in early January by the Association of passenger rail users in the Western region (Avuc) Friday were "more than 7,500 signatories," says Willy Colin, a spokesman payday loans in 1 hour. "This mobilization is at the level of dissatisfaction of users, so that the TGV EST," he says. He believes that the goal of 10,000 signatures should be quickly reached.

The petitioners, who also denounce the deterioration of service required including compensation for delays of ESTs, schedule adherence and a freeze on rate increases."Consumers are tired of being cash cows," said the Avuc in a statement. SNCF employees have joined the movement, Willy is Colin.

Sunday at the Grand Jury RTL-Le Figaro-LCI "Guillaume Pepy, SNCF chairman of the group announced No contingency plan for twelve lines" sick "of the SNCF. He cited the Paris-Amiens and Paris-Tours or the RER A line. "On each line, we will set up a barometer of public satisfaction, which will be measured each month," he said. The total cost of this plan is estimated at "several tens of million euros", drawn from the profits of the group.

(With AFP)

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Areva capital increase validated

This is the official end of the series. After many adventures, the supervisory board of Areva on Saturday approved the capital increase of the group 900 million euros that was announced Friday by the Ministry of Economy.

"The supervisory board of Areva has reviewed and approved the launch of a capital increase of 900 million euros, representing 7.2% of capital at the end of the transaction, underwritten by: Kuwait Investment Authority (KIA), acting on behalf and on behalf of the State of Kuwait for 600 million euros, the French government for 300 million euros, "Areva said in a statement. "The French state and KIA have entered into a shareholders agreement providing for such stability of the involvement of Areva KIA capital for 18 months," the company said.KIA will not have a seat on the supervisory board of Areva cheap pay day loans.

A "Project Offer" for employees

According to the nuclear group, the operation will be followed by a capital increase in favor of holders of investment certificates listed in Paris "under the right anti-dilutive. To ensure long term liquidity of the securities purchased, the state pledged to make its best efforts to carry on trading shares in the first half of 2011, also recalls Areva.The group also confirmed its "willingness to initiate a tender offer reserved for employees when the shares will be listed.

In conclusion, Areva said that "these transactions will enable the group to strengthen its capital and pursue its development plan with a financial structure."

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Why finance professions earn as much

On Thanksgiving Day, Thanksgiving Day holiday in the United States, falls on the fourth Thursday of November. The timetable was set by President Franklin Roosevelt in 1939 to facilitate Christmas shopping and help the economy out of depression. It is also the time when financial institutions begin to calculate the envelope of their employees bonuses. The year 2010 looks great. According to a preliminary investigation of the Wall Street Journal on 35 institutions, institutions of Wall Street should distribute some $ 144 billion of variable remuneration (bonus, bonuses and stock options) to all their employees. A little more than last year (139 billion). Reported to 175,000 financial account the state of New York, this is about 800,000 euros per person, the secretary to the boss.

Why such fees in investment banks? On the occasion of the publication of his "Moral report on the money in the world in 2010, the Association of Financial Economics, created by the Deposit in 1987, held last week in Paris a debate on this theme. No other industry is as generous with his employees. As noted by the Wall Street Journal, financial institutions distribute 32% of their revenues to their employees. Bonuses and other rewards are more than twice their own profits (61.3 billion dollars in 2010).From this angle, Wall Street is a form of "social capitalism" model.

Professor at ENSAE, Francois Meunier gives an answer in three parts: the "star system" boosts the salaries of traders, employees are in a strong position relative to the company that employs them; employees and shareholders find themselves " in collusion "at the expense of bank customers. Michel Camdessus, who has entrusted the task Bercy wage monitoring of market professionals, sharing the diagnosis. "The outsized salaries amounting to a profit sharing, protected by a downward force report very favorable to business," he wrote in the "moral Report 2010".

Paradoxically gains stars show no mystery. Francois Meunier invokes the "Pavarotti effect", named after the Italian tenor (who died in 2007), considered in his time as the most beautiful voice in the world.Occupational artistic and intellectual, it is usual that the first batch takes all. The public does not want him, and thanks to technology diffusion and globalization of markets, their earnings can be huge. "We do not replace a good trader by ten traders mediocre, which is true in many professions," says Professor Miller.

The primacy of employees traders on the capitalists – the owners of the company that recruited them – is more troubling. Certainly they have the know-how. But it is not patentable, unlike the pharmaceutical industry where researchers earn less than traders. The strength of these is that they have "treasure" of their bank. They are the "robbed" by leaving her, in the words of sociologist Olivier Godechot.Hence the gold bridges to keep them: Adam Levinson, an employee of Fortress Investments, in London, last year received $ 300 million of equity to stay. Capitalism seems to be returning to its origins, when the designated capital livestock units (Latin caput). Except that it now heads egg outputs of the best universities in the world.

Remains the key issue of customer billing required, the payer of last resort. Employees and shareholders are then "in cahoots" observes François Meunier. Witness the huge rate of return on capital that investment banks emerged. Not less than 22.5% (after tax) for Goldman Sachs in 2009.Financial innovations, commissions on the amount of indexed operations, solidarity between institutions to avoid breaking the price … All campaigns for that bankers hold the upper hand.

United States, the financial professions represent 10% of the wealth produced by the country (value added), but they accumulate 35% of profits in all sectors. Jean Peyrelevade, now president of the bank Leonardo sees a form of "predatory" (sic) applied to "real economy". He was surprised that banks "who refuse their loan clients to have debts of more than two or three times capital operate with leverage of around 20".Hence the comparison he dares with "shell game, a good example, albeit a bit extreme, an activity that can be delivered without fixed capital, without much labor, with a actual production of services to almost zero. " The former head of Credit Lyonnais, he was back on track, proposes to "toughen standards of equity (banks) and reduce (their) leverage to bring the average profitability of real economy. " A beautiful theme for reflection for Thanksgiving.

Wall Street continues to evolve without much conviction

U.S. stock markets opened without direction, on Monday. The Dow Jones lost 0.12% to 11,393.50 points and the S & P 500 was down 0.04% to 1222.73 points, while the Nasdaq Composite advance of 0.08% to 2582.23 points. On Monday, in the absence of macroeconomic news, Wall Street has ended the session on a hesitant note. The Dow Jones lost 0.33% at 11,406 points, the Nasdaq rose 0.04% to 2580 points while the S & P500 fell 0.21% to 1223 points.

Previously, carried by the support measures by the Fed to the U.S. economy and the Republican victory in the elections of mid-term, the S & P 500 had jumped 3% during the last week and over 16% since the beginning of September. But now Wall Street has some difficulties to continue unabated.

The dollar continues its momentum

The event promises to be significantly reduced this week at the New York Stock Exchange, Thursday, November 11th is holiday in the U.S. for the Veteran's Day. On Thursday, the NYSE, NYSE and Amex Nasdaq will be open, but bond markets will be closed. Stagnation is also reinforced by the expectation that the G20 will be held in Seoul on Thursday and Friday.

On the foreign exchange market, the euro was still down against the dollar late Tuesday morning, moving around the threshold of 1.39 dollar because of concerns about the fiscal health of some countries in the euro area.Around 11:00 am in Paris, the European single currency was worth 1.3921 dollars against $ 1.39 the previous evening.

The side of values, Bank of America (Bofa) (-0.06% to 12.59 dollars) will sell more shares BlackRock (-2.02% to 165.68 dollars) than initially announced the first manager assets worldwide, on Tuesday before the opening of Wall Street. Bank of America will sell 51.2 million shares, or 2.4 million shares of more than initially envisaged. The bank would thus be able to earn about $ 8.3 billion at the time of disengagement.

Sanofi-Aventis (+0.42% to 35.66 dollars) on Monday urged the leadership of the U.S. laboratory Genzyme (-0.04% to 71.03 dollars) to forego protective measures against the takeover bid at 18 , 5 billion which it launched in early October, calling to let shareholders decide "for themselves" the fate of this offer pay day loans.In response, Genzyme reaffirmed that the price of 69 dollars per share the offer was not the "appropriate starting point to begin discussions."

The U.S. conglomerate General Electric (GE) (+0.42% to 16.78 dollars) announced Tuesday that it plans to invest more than two billion dollars in two years in China, especially in research and development.

AOL is considering a merger with Yahoo

AOL (0.94% to 26.35 dollars) confirmed it had appointed Bank of America to consider several strategic options, including a possible merger with Yahoo, according to sources familiar with the matter. The idea of a rapprochement between the two groups would still in its infancy and that there was no guarantee that it leads to an agreement.

Microsoft (0.81% to 27.03 dollars) will launch tomorrow in Europe KINECTS, its new tool to do without any accessory on Xbox 360.The U.S. giant is the last of the three console manufacturers to try their luck in the detection of movement after the Nintendo Wii in 2006, which opened the market to the general public, and the Move by Sony in September 2010.

The CEO of U.S. computer Oracle (+0.41% to 29.16 dollars), Larry Ellison, said Monday at four billion dollars the damage caused by an acquired company a few years ago by its German rival SAP, TomorrowNow. Testifying at a trial in Oakland, California, Larry Ellison said that since TomorrowNow had unlawfully appropriate technologies Oracle, SAP was able to make it easier for customers.

Ambac has filed for bankruptcy

The troubled monoline Ambac (-55.73% to $ 0.23), a victim of the financial crisis, said Monday it filed for bankruptcy and put himself under the protection of the bankruptcy law.He was unable to raise capital that would allow it to meet its obligations.

Also note, the group Amazon Web (+0.52% to 172.89 U.S. dollars) Monday announced an increase of fees it pays to newspapers and magazines available on its Kindle digital library. The latter will receive 70% of revenues from December.

The price of tobacco increased by 6% on Monday

New outbreak of labels in civets. Cigarette packages will sell on average 30 cents more starting Monday, up about 6%. The ministerial order determining the increase, which comes almost one year to the day after the previous increase, was published Saturday in the Journal Officiel.

Baroin confirmed by the Minister of Budget, mid-September, this translates into higher prices for the state by 660 million euros in additional tax revenue per year. Thus, according to Bercy, the state revenue under the law of tobacco (excluding VAT) are expected for the first time in 2010 exceeded 10 billion euros.These funds are all allocated to social security budget and will be distributed among various funds.

An increase in "moderate and reasonable"

For Baroin, responsible for registering price changes desired by manufacturers, this increase is "moderate and reasonable" and therefore consistent with the Cancer Plan 2 of President Nicolas Sarkozy. An argument is unconvincing associations fight against smoking, that an increase of less than 10% has no effect on consumption, and therefore on public health, then that smoking causes 60,000 deaths a year France.

On its website, right of nonsmokers (DNF) even asks the government and the president of preferring "an increase of 60 cents every two years" rather than "small increases of 30 cents per pack of cigarettes each year. "French Office for the Prevention of Smoking (OFT), "this increase requested by the tobacco industry is calculated to the penny so as not to reduce consumption."

Tobacconists fear yet the impact of this increase in tobacco prices. According to them, it's not just a "dance labels. With this increase, "it is a network that could pitch," said the Confederation of tobacconists. For the profession, rising rates could "restart the procurement of cigarettes outside the formal network. That is to say across borders (Spain, Belgium, Germany) where cigarettes are 20 to 30% cheaper in a hurry or on the Internet.

Fears tobacconists

According to Pascal Montredon, the patron saint of tobacconists, "18-20%" of cigarettes smoked in France were not purchased in any of 28,000 tobacconists.He requested a formal study on this phenomenon. For their part, manufacturers evaluate different surveys between 12 and 22% off purchases of the official network.

On 9 November 2009, tobacco prices had already étérelevés about 6% increase already criticized by anti-tobacco as too weak to be effective in terms of public health. This increase was also not significantly changed sales tobacconists who fell by only 0.2% over the first eight months of 2010 compared to 2009. Data dubaromètre health 2010 show that tobacco consumption has increased by almost 2% between 2005 and 2010.

MPs recently rejected an amendment by Yves Bur proposing to overtax the profits of manufacturers. Next step, photos shock will be mandatory at the back of every packet in April. And the government continues to consider a generic package, without any logos or color.

(With AFP)

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RER disrupted by spontaneous movements

RATP announced a traffic normal or near normal across its network this Thursday. But it was not counting interventions protesters to disrupt the organization of railroads in the Ile-de-France. Several spontaneous movements have forced the RATP to change his schedule on the RER lines A, B, C and D. While on the E, a second train is scheduled during peak hours.

RER A

Due to the presence of protesters to file Achères, traffic is disrupted on the line A of RER, RATP announced on its website. "Significant delays and losses and changes in service are expected on the branches Poissy and Cergy-le-Haut."

RER B

RATP has triggered security measures related to the presumption of danger on the track. Trains with delays of 20 to 30 minutes.Deletions and changes to service are expected.

RER C

"Due to flooding of the switching station from Paris Austerlitz by protesters, traffic was disrupted on the RER C line," said RATP. Train traffic was halted on the entire line on Thursday morning, but traffic resumed gradually in the late morning.

RER D

Even if only for the RER B line is very upset because people on the road.Trains with delays of 30 to 45 minutes and deletions or modifications are possible feeder throughout the line.

• SNCF

While the looming Halloween holidays starting this weekend, the station announced Thursday for a new and slightly improved traffic and prepare a TGV service near normal for departures on holiday from tomorrow, Friday.

"However, the railway network of RFF (Réseau Ferré de France) and SNCF trains and facilities have been the subject yesterday of malfeasance and obstruction of traffic that penalize travelers," denounces the station.

This morning, shares of blocking traffic and have severely disrupted rail traffic in Ile-de-France on several points in the network RFF (Achères Dourdan Dies, Monceau, Paris Austerlitz), and station facilities in Mitry and Montparnasse station.Similar actions conducted in several regions and cities including Chartres, Metz and Dunkirk make it more difficult commuting on line pay day loans users. These acts are the work of isolated groups, gathering protesters and some railroad, the SNCF said.

To recall, the turnout in the strike against renewed inter pension reform was established yesterday, Wednesday, at 15.68% for all staff, said the executive.

Besides these occasional disturbances, according to a statement from the station, traffic is disrupted on Thursday:

At the national level

-TGV Paris-province: two trains on three

TGV-province to province: a second train

– For B: a second train.Connections with TGV are not guaranteed.

– To Corail trains: four out of ten trains

– For Intercity trains: almost a second train

– Téoz: more than four out of ten trains

– Traffic and Paris Nice Paris Nice: the normal night of October 20 to 21.

Transiliens

– Six out of ten trains at peak. Additional trains are likely to be put into circulation. Traffic on the RER A is normal.

At the international level

– Eurostar: Normal

-Thalys: near-normal service

– ICE TGV (France-Germany): Normal

-TGV Lyria (France-Switzerland): normal traffic

– To Italy: A roundtrip Paris-Milan will be provided for the daytime traffic.

Traffic-other international trains uninsured.

– Traffic Lunea night: no traffic on the night of October 19 to 20.

SNCF said that while ticket lines will be valid during the period, board any train traveling on that day about the relationship in question.Customers preferring to cancel a trip with a reservation for a train of the period may do so without charge at the counter, whatever the price.

• Information

http://www.sncf.com

http://.infolignes.com

http://www.abcdtrains.com

http://www.ter.sncf.com

The site-by-station mouvement.com also serves to check the billboards (departures and arrivals) from the station of his choice.

• Hotlines

0.805.90.36.35 to Outline (TGV), TER Téoz and Intercity

0.805.70.08.05 for Transilien

sncf.mobi for real-time access to information on mobile.

Station radio: One point traffic every 15 minutes from the SNCF Direct application on smartphone and all station websites (www.sncflaradio.com)