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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As we approach the presidential election, the idea of ​​establishing a single employment contract instead of the current CDD and CDI returns to service. The National Association of Directors of Human Resources (ANDRH), the Assizes were held in Paris on Friday, wanted to "deliver the proposal to the public debate," now calling legislators and social partners to tackle them.

"This is not a new idea, warned the director in the morning at the microphone of a Europe, for the first time against that as we engage practitioners to advance in this field." One idea already welcomed by Labour Minister Xavier Bertrand, who ruled on Friday that it i-TV should be studied free credit score online. No wonder this: the reform program was already the candidate Nicolas Sarkozy in the 2007 presidential election.

The idea may indeed seem attractive.Two reports published in 2004 while two (one from the Economic Analysis Council on the protection of employment, both of Pierre Cahuc and Francis Kramarz Social Security Professional), as well as the Attali report, the had also called their wish, including with the aim to overcome the strong duality of the labor market. By giving employees rights progressive, the single employment contract is "to fight against the excessive use of fixed-term contracts and temporary," justifies the ANDRH.

A revolution

Source: INSEE

The year 2011 should be black for the airlines. In any case, predicted that the International Air Transport Association (IATA) on Monday. At the annual meeting of the association in Singapore, it has halved its earnings estimates for companies this year. "Natural disasters in Japan, unrest in the Middle East and Africa, plus the sharp rise in oil prices, slashed profit forecasts for the sector, to 4 billion U.S. dollars," and said IATA Director General Giovanni Bisignani.

This estimate of 4 billion is a drop of 78% compared to profits of $ 18 billion achieved in 2010, year of strong recovery for the airline after the economic crisis.Margins would amount to only 0.7% and a forecast turnover of 598 billion dollars.

A barrel is too expensive

In early March, IATA still evaluating the benefits to 8.6 billion. But it was just before the earthquake, followed by a tsunami and the nuclear disaster Fukushima, Japan. This drama series was first led to a suppression of flights to Japan and then a slow recovery for many companies. But the Japanese air transport market, valued at 44.4 billion euros, representing 6.5% of world traffic and 10% of turnover in the sector. Furthermore, Japan provides 3-4% of world production of kerosene, which is exported to Asia. "Part of that refining capacity has been lost due to damage caused by the earthquake," says the association.

Rising oil prices is just one of the main concerns of IATA.The Japanese crisis was grafted to increased tensions in the Arab world instant personal loans guaranteed. Libyan oil production, usually by 1.6 million barrels per day, is almost stopped due to fighting. And despite the increase in output of major oil-exporting countries, the markets fear a shortage. In April, a barrel of Brent North Sea thus came to London to 124.45 dollars, the highest since Aug. 4, 2008, while in New York, a barrel of light sweet crude " (WTI) rose to 111.68 dollars, the highest since September 2008.

Falling prices in May has also been only temporary because prices, reinforced by a weak dollar, have already gone back up.At the beginning of June, a barrel of light sweet crude "evolves around $ 100 while that of Brent North Sea worth $ 115.

Suspicious, IATA has reassessed its estimate of 15% for the average price of a barrel of Brent crude for the whole year, to $ 110 against 96 previously. The fuel bill for all airlines and will rise by 10 billion to 176 billion. "Fuel now represents almost 30% of the cost of air transport, more than double the 13% from 2001, according to the association. "The efficiency gains achieved during the past decade and improving economic conditions help offset the high cost of oil, but with limited margins to 0.7%, this leaves little protection against possible shocks, she says.

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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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Assists Is there a pause of flexible response? The Hadopi decided to "suspend its Interconnection with Trident Media Guard (TMG), the company Nantes mandated by the rights holders to monitor P2P networks for the exchange to" flash "French Internet users currently downloading works monitored.

The decision comes after the computer security specialist Olivier Laurelli, better known on the Internet under the pseudonym bluetouff, revealed this weekend, several security holes on one of TMG servers. In the files have been found many IP addresses of French Internet users, "ID" of Internet-connected computers. However, these data should be secured.

"Precautionary Principle"

"We apply the precautionary principle," says the Hadopi Figaro.fr. "We do not know what is actually happening in servers TMG.But we do not want to risk an intrusion into our system and personal data it contains. "

Presently, TMG sends daily Hadopi records IP addresses of surfers caught in his nets. The High Authority then decides whether to send a warning email to the owner of the Internet line in question and is the first step in the graduated response. With Monday's decision by the highest authority, the transfer of information between TMG and Hadopi is now suspended indefinitely.

Customers can they download with impunity the time of the suspension? The Hadopi like to moderate the joy of some users. "TMG can retain data for some time.If we restore the interconnection sooner, then all records of addresses made since Monday will be considered by us. "

TMG minimizes the impact of the fault

According to a report of the CNIL, "the data collected [by TMG] are cleared during the night following the confirmation of receipt of referrals by Internet Piracy, usually 24 hours after the collection of this information." If data are not passed, it will "also destroyed 24 hours after collection.Therefore, if Hadopi decides to reestablish its connection with TMG Wednesday surfers flashed in the day on Monday not risk anything, since the data has been erased by TMG Tuesday at midnight.

TMG has defended his part in a press release stating that the flaw disclosed by bluetouff "comes from a test server of society" and that "the infrastructure used by GMT as part of its operations were not impacted. "Therefore," no confidential data and personal has been published on the Internet. "

The rights holders should expedite an expert report from TMG very quickly, according to Internet Piracy. "Everything must be put in clear," says one at the headquarters of the supreme authority.

Is this the end of the crisis as expected? In any case, Vinci has been a restart of the traffic on the motorway network (ASF, Cofiroute and Escota) despite soaring gasoline prices. In the first quarter, the passage of cars increased by 3.2% against only 2% over last year. The heavy-duty soared 3.8% while it had increased by only 3.2% in 2010. Another positive signal: late March, the group's order book stood at 26.6 billion euros, eleven months of activity.

A position that makes Vinci very offensive, especially to buy concessions, yet demanding equity and debt: "We're looking at regional airports in France are Lyon, Montpellier, Toulouse and Nice tomorrow, said yesterday at the general meeting of the group Xavier Huillard, CEO of Vinci.And we will continue to be interested in acquisitions abroad parking and highway assets in emerging markets. "

But if these activities are extremely profitable, they are not easy. Thus, the highway between Moscow and St no teletrack payday loan. Petersburg which Vinci was awarded in 2009 the construction and operation saw its site blocked for several months for ecological reasons. The situation was released in December 2010. "And the work should start in a few months," said Xavier Huillard.

Shipyard Canal Seine-Nord

As for the high speed line between Tours and Bordeaux, Vinci won the public-private partnership, in March 2010 remains confident to complete a quick initial funding was to be finalized in late February. "The contract should be signed within the next few weeks," said Xavier Huillard.

In addition, the Group is positioned to win several large projects. In France alone, it aims to be chosen to dig the canal Seine-Nord, build the Tribunal de Grande Instance in Paris, or build some stadiums hosting Euro 2016. And to obtain or not these contracts, Vinci expects growth of 5% of its turnover and net profit in line with that of last year which reached 1.7 billion euros.

Hotel occupancy in France was restarted in 2010 after the 2009 economic crisis, while the success of the campsites can not be denied, especially for higher-end, according to an INSEE survey released Thursday.

In 2010 the number of overnight stays in hotels rose 2.2% in France compared to 2009 to 192.2 million. The growth has not led to clear decline in 2009 (-4.9%). Let alone find the record of 2007 (198.9 million nights), this study is conducted in partnership between INSEE and the general direction of Competitiveness, Industry and Services (DGCIS).

Business customers (+4.6%) largely explains the recovery. Foreign tourists are partly income (+2.8%). The attendance of French customers has also increased (+2%).

The upscale hotels are the first beneficiaries of the recovery.The number of overnight stays increased by 12% for 4 and 5 star establishments, 3.7% for the 3 stars but is down 0.7% for the 2 stars.

Chinese customers (+45%) arrive en masse, before the South Americans (+28%) and clients of the Near and Middle East (+23%).

Europeans are fewer (-0.2%). The clientele of the United Kingdom, traditionally the most important, yet declining sharply in 2010 (-6.7%). However, attendance is strong from the countries of Central and Eastern Europe (+13.2%) and Russians (28.3%).

For the 2010 season, the number of overnight camping has increased slightly (+0.9%) to 103.8 million.

The New York Stock Exchange ended sharply lower Tuesday. Investors worried about a disappointing start to the season for corporate earnings and the severity of the nuclear crisis in Japan. At the close, the Dow Jones dropped 117.53 points to 12,263.58 points and the Nasdaq, dominated by technological 26.72 points to 2744.79 points. As for the broader index Standard & Poor's 500 has dropped 0.78% (10.30 points) to 1314.16 points.

"The Exchange has resisted in Japan, the crisis in Libya. More and more investors are expecting a sustained correction, between 7% and 10%, and say that it can be when it will occur, "said Clement Decombe of Meeschaert Capital Markets, cited by AFP. He added: "There will have taken profits, some will wait until the situation clears up a bit before going on the market."

Japan came out strong concerns among investors, the Japanese authorities raising the level of the accident at the plant in Fukushima at maximum level, equaling that of Chernobyl.

The earnings season for U.S. companies for the first quarter has also started a tumble: the aluminum producer Alcoa plunged 6.02% to $ 16.70 after posting a profit slightly above expectations, but sales lower than expected by analysts.

Trade balance and budget figures

The investors were even more pessimistic on Tuesday that macroeconomic side, the U.S. trade deficit declined more slowly than expected in February. The trade balance posted a deficit of 45.76 billion dollars according to figures released by the Commerce Department, while the market was expecting a "hole" of 44.5 billion.In January, the deficit had amounted to 46.97 billion dollars.

As for import prices and export, import price inflation accelerated sharply in March to 2.7% this month alone, mainly because of higher oil prices and the diet. Next publication expected by investors, those of the U.S. budget figure for the month of March

Oil prices are displayed for the second consecutive day sharply lower.

Side currency, the euro start rising against the greenback after this series of indicators, and evolved over the threshold of $ 1 online payday loans.45 for the first time since January 2010.

Fastenal Co.publish its results tomorrow before JP Morgan

As for the publications of corporate earnings for the first quarter, they will continue this week, on both sides of the Atlantic after Alcoa, are among others the first quarter figures from JP Morgan (-0 , 47%, to 46.64 dollars) to be known from this Wednesday (13:00), ahead of Accenture (-0.29% to 55.84 dollars), Google (-1.17%, to 570, $ 61) and Hasbro (-2.68% to 46.47 dollars), all three on the agenda for Thursday. Bank of America (-0.15%, to 13.47 dollars) and Mattel (-1.78% to 25.32 dollars) will follow on Friday.

Meanwhile, Fastenal Con'a not convinced investors despite higher public expectations (-4.390%, to 64.54 dollars).One of the largest U.S. distribution of industrial and construction equipment has announced an increase of 23% of its quarterly revenue at $ 641 million and a 42% jump in net income.

In addition, Intel will launch new microprocessors that consume less electricity. This strategic announcement has not aroused the enthusiasm of investors, as Intel falling 1.79%, to 19.76 dollars.

Amazon (-1.93% to 180.48 dollars) for its part, announced Monday a further decline in the price of its Kindle electronic reading light at 114 dollars against 139 dollars so far. This new model will post advertising via various backgrounds, but also a whole series of promotions made from the home page.Delivery scheduled May 3 in the United States.

Chevron (-3.34% to 104.18 dollars) for his part announced Monday that its profits in the first quarter of 2011 should be higher than the last three months of 2010, thanks to buoyant oil prices refining margins and higher.

Finally, Hewlett-Packard (+0.07% to 40.65 dollars), will have to give up for now afford the software developer Tibco Software (3.93% to 28.05 U.S. dollars) morning after the announcement by two sources familiar with the failure of negotiations.

The interest rate the European Central Bank, which determines the cost of money in the entire euro zone, banks in particular, was raised by 0.25 point to 1.25%. It is the first rise in the cost of money for 3 years. This decision was announced between the lines several weeks ago in previous speeches the President of the European Central Bank (ECB), Jean-Claude Trichet.

ECB reacts to the acceleration of inflation, which reached 2.6% in March, surprising analysts on the rise. Developments due mainly to "increased energy prices," said Jean-Claude Trichet at a press conference Thursday afternoon.

In this context, he reiterated his warning against "second-round effects", that is to say that higher wages would fuel higher prices."We are particularly attentive to this issue," he warned. The social partners should not take for reference the current inflation, but the target of 2% set by the ECB during the negotiations on wages, pleaded Jean-Claude Trichet.

The first in a long series?

The press conference of the ECB was scrutinized by analysts awaiting signs of future rate increases. Most of them estimated that up this Thursday is the first in a series that will take place during 2011. "The ECB has decided that this increase was the first in a series," Jean-Claude Trichet timed.

At the same time, it did not indicate in his opening statement that rates were at an appropriate level, implying that future adjustments.At Societe Generale, analysts expect an increase of 25 basis points (0.25%) every quarter to an interest rate of 2% in late 2011.

Route risky "

That prospect worries some observers, however. The ECB is "a risky road to recovery," said James Nixon, an economist at Societe Generale CIB. While growth in the euro zone is distributed. But it remains very uneven across countries. Germany experienced a strong recovery while the peripheral countries, subjected to rigorous programs are still in recession.

"Rising interest rates will add considerably to the cost of debt of the peripheral countries, fears James Nixon.And it remains to prove that increasing rates in a context of soaring oil prices, already able to cut consumption, does not cause back in recession and no recovery of the banking crisis in Europe. "

With a rate of 1.25%, "the EC's monetary policy remains very accommodative, has defended Jean-Claude Trichet. Our decision is to anchor inflation expectations of economic actors to a level commensurate with the objective of the ECB's 2%. "

Finally! After a year of zero order, the 747-8 Intercontinental Boeing B carries a great breakthrough. In addition to China, the most promising market in the world. Air China has announced the purchase of five jumbo jets worth an estimated U.S. list price at $ 1.54 billion. Boeing has made "substantial concessions on price," said Air China becomes the third customer for the Intercontinental after Lufthansa and Korean Air.

This acquisition will enable the Chinese company to increase from 6.6% the capacity of its fleet comprises 381 aircraft in late June 2010. In terms of large aircraft, Air China, which already operated B 747 classics from the 1980s, chose the balance between the two offers on the market. She had in fact already ordered five A380 super jumbos.For Boeing, the resumption of large aircraft orders is good news and crown-month campaign commercial. In contrast, Airbus has just been served the cancellation of ten A 380 by one of its biggest customers, the lessor ILFC U.S..

The fact remains that the day of 8 March 2011 was auspicious for both manufacturers rivals. Boeing recorded $ 12.6 billion worth of orders (at MSRP). Also in China, Hong Kong Airlines has signed a memorandum of understanding with Boeing for six Boeing 777 freighter version and 32 B 787 Dreamliner. And ILFC also signed a contract for 33 medium-range B 737. The leader in aircraft leasing and acquisitions justified its cancellation of its ten A 380 by the need to rebalance their portfolios in order, dominated by large appliances.ILFC also has also announced the purchase for some 8.86 billion dollars, 100 A 320 and A 321, 60 NEO will feature the new engine from Pratt & Whitney.

Finally, Turkish Airlines has signed a firm order for ten medium-haul A321 and three A330-200F freighter aircraft for an estimated $ 1.6 billion.