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For its centennial, the fund invests Strategic Investment (ISP), launched there just eighteen months, has chosen to support CGG Veritas. This intervention takes place through the acquisition of the group's shares listed in Paris and New York, up from just over 170 million euros, or 6% of capital. The fund, which became the largest shareholder of the company, ask an administrator to the council table. "This is a significant commitment of ISPs, says Gilles Michel, Director General of public funds. One of our three missions is to strengthen the capital of companies listed on major technological potential. Upon entering the capital of CGG Veritas, we conduct our sixth investment of this type. "

This, incidentally, the third stake in an oil company, after Vallourec and Technip.With a market capitalization of 2.7 billion euros, CGG Veritas is smaller than the other two groups supported by the fund, but the company employed 7,500 strong positions in its areas of specialty. It is a world leader in providing services in imaging for identifying hydrocarbon reserves, both onshore and offshore, it is also the world leader in seismic equipment.

"We are proud to be regarded as a business with great potential by the ISP, and it does not mark a turning point for the company, but it will allow us to further develop the technology to improve the image of the basement" , commented the President of CGG Veritas, Robert Brunck on line pay day loans.

Long-term shareholder

The entry of ISPs also aims to secure a capital highly fragmented.IFP (French Petroleum Institute), long the largest shareholder, holds only 4.2%. And the company has 700 funds in its capital.

With the strategic fund, about 10% of the capital are now in the hands of public shareholders and long term. "The presence of ISPs in the capital makes CGG Veritas attractive for other long term investors," said Gilles Michel. For him, securing the capital enables these dynamic companies to focus on growth rather than spending time managing financial issues.

Problem even more crucial that CGG Veritas is an average actor in a sector parapetrolic won by a movement of concentration. Schlumberger has made two acquisitions in quick succession.The industry giant has launched at the end of winter a bid of 11 billion dollars on Smith International, before you spend a few weeks later, one billion euros to afford the French Geoservices. Many observers consider that competitors, including Halliburton, would replicate …

Catastrophe! The verdict of the experts gathered yesterday on behalf of the Health Authority (FDA) on Naproxcinod NicOx is clear: sixteen votes to one against, they voted against the authorization for the U.S. market for treatment cons osteoarthritis.

If the FDA ultimately decides the approval of a drug in the United States, the Advisory Committee constitutes a notice of weight, especially when it is so decided. The agency should make its decision before July 24 next.

But already, the hopes were so meager that the actions d?grindolent Stock Exchange Thursday, while trading in securities listed in NicOx 9:00, after being suspended Wednesday from 2:00 p.m. at the request of the company. At the close of the Paris Bourse during the uncoupling of 44.53% to 2.9 euros.On Tuesday, the day the group announced this biotechnology application to stay the course, the shares had already fallen from 28.37%.

Total, in three sessions, NicOx has lost more than half its value.

The continuation of the project Naproxcinod compromised

The President's Advisory Committee meeting Wednesday, Dr. Kathleen O'Neil, summarizing the conclusions of the Advisory Committee meeting, said extant 'enthusiasm about the potential of naproxcinod but that additional data from additional studies on job security would be needed, "reports the group in a statement.

This single sentence has made it clear to investors that the case is wrong party.According to analysts at Natixis, the American drug agency should provide to NicOx a "Complete Response Letter" means not permitted, requiring further study to clarify the gray areas of the record, particularly in terms of job security product.

Now "option to initiate studies on the long term is virtually impossible for NicOx," according to them. This would require large patient populations over periods of several years of testing, an expensive option that NicOx should not continue, they said. Natixis is passed directly on Thursday morning of the recommendation to "buy" to "ease".

A big blow for NicOx, which had very high expectations of this product across the Atlantic.Analysts said the potential of the drug could reach 1.3 billion euros of sales at the peak of sales, in 2017.

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Greece will not wait long for the counter. Two days after the formal adoption of the aid plan of 110 billion euros in its favor, Athens seeks payment of an initial tranche of 20 billion euros, according to a government source quoted by AFP. The IMF should participate in this first installment to the tune of 5.5 billion euros, the rest from member states of the European Union.

Time is short. The Greek state has to repay a maturity of 8.5 billion euros on May 19 or next week. This is not all. "We must add all refunds coupon (interest on debt, Ed) of bonds issued in May in previous years, and there have been many," said Patrick Jacq, a strategist at BNP Paribas rate. To which must be added interest on the debt issued in foreign currencies.In total, it is not ? 8.5 billion that Greece should pay by the end of May, but between 11 and 12 billion euros, according to the calculations of the strategist.

Also remains an unknown: the short-term funding of deficit cash quick. Fortunately for the Greek government, after sending his letter to the European Commission, the Central Bank (ECB) and International Monetary Fund, Athens would receive 20 billion almost immediately, or "maybe in the day" according to a government source.

Because Greece has no choice now. She can no longer fund normally markets because of high interest "prohibitive," explained April Finance Minister George Papaconstantinou.

European aid comes not without consideration.The government has defied the unions and established an austerity plan of unprecedented severity, with the aim of reducing the deficit by almost 14% in 2009 to 8.7% in 2010. Events are also scheduled for tomorrow late Wednesday afternoon in Athens to protest against the severity.

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"SPECIAL CASE – Greece, a challenge for Europe

Meeting in Brussels, the Heads of States of the euro area have finally approved the activation of the financial assistance plan 110 billion euros to Greece three years. According to several government sources, the leaders have also discussed the establishment of a fund to help countries threatened to defend the euro. The European Commission could contribute in the form of loans to the tune of 70 billion euros. The European Central Bank (ECB) will also participate.

"Attack of the market is now against the euro and individualized assistance to any country may give an insufficient response of Europe, the priority is a unified response, firm and fast," said one in particular these sources on condition of anonymity.

If agreement seems to have been found on Friday on the need to establish a sustainable mechanism for defending the single currency, the heads of states still fail to agree on every detail. "The discussion focuses particularly on the role of the ECB," said a source close to the talks

Pressure on ECB

All eyes are turned to the ECB effect. The other track would be mentioned that the latter buys bonds issued by states of the euro area, to provide them in exchange for cash. According to these same diplomatic sources, the European Commission would currently pressuring the ECB to make sense in a concrete proposal to support the euro area.

On Monday, the ECB announced it would accept the Greek debt as collateral for its loans, regardless of their credit ratings.Extending this unprecedented step for all countries in the euro area "would be a strong signal to markets" would have said the president of the European Commission Jose Manuel Barroso. But on Thursday, the ECB said it had not considered.

Tighten fiscal discipline

The euro zone leaders agree at least on the need to tighten fiscal discipline. A commitment to ensure that "Greece is not only to reduce its deficits, but that we work so that all the Stability and Growth speedy again respected," said German Chancellor Angela Merkel in Brussels.

Leaders also stressed the need for better coordination of economic policies in the euro area.Finally the sixteen Heads of State and Government reiterated their determination to "move quickly on the regulation and supervision of financial markets. They also insist on the creation of "a European rating agency.

Barack Obama supports the EU

Moreover, since the White House is that Barack Obama supported the European heads of state on Friday. "I made it clear that the United States supports these efforts and will continue to cooperate with EU authorities and the IMF during this critical period," he said, after talks with Angela Merkel.

American concerns grew at the same time as the market stress.Wednesday, Charles Plosser, a leader of the U.S. central bank (Fed) has assured that "the economic recovery of the U.S. could be delayed by a further turmoil in financial markets. Recent events in Greece are one of the factors likely to influence the evolution of the U.S. economy. "

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At a time when travel is no longer the preserve of a few explorers, the Expo is no longer just visitors to travel around the world but rather to give them vacation ideas. The Chinese are now just under 55 million to go outside their borders on vacation. By 2020, they will be 100 million. This will be the tourist population of the world's largest. And some countries are willing to settle for a small portion of these new visitors. "We want to capture a share of this growth. That's why we joined the program joined the Nordic sells northern Europe as one destination for Chinese tourists, "says Palsson Hrein, Consul General of Iceland in Shanghai and commissioner of the Icelandic flag Expo 2010, which has made tourism one of the three themes of the exhibition.The Icelandic Minister of Tourism will make even the Expo June 17 This day is an opportunity for Reykjavik to invite Chinese travel agencies and journalists specialized in tourism.

The correlation between tourist attraction and intention to visit the pavilions of the exhibition is obvious. The United States, Australia, Japan, Thailand, France, Italy and Spain were the most popular pavilions during the test days of the Expo last two weeks. They are also the countries most popular with Chinese travelers.

The smaller nations or absent from the traditional tourist tours competing ideas to attract maximum visitors to their pavilions electronic check payday advance. They hope to offer a promotion that no travel agency can never offer them."This is a unique platform to build the brand image of a country," said Debby Cheung, director of Ogilvy Public Relations in China.

Denmark did not hesitate to move her Little Mermaid bronze for the first time outside of Copenhagen. The exhibit coming to the center of the Danish flag to the end of October. Operation successful communication since the advent of the statue has become a major "buzz" of Chinese Painting Expo. The calculation is simple, with three million visitors a year, the Nordic country can hope to show one of its landmarks twice more tourists in half the time. Luxembourg followed suit by bringing his G?lle Fra (Golden Male), moved the Monument of Remembrance to the entrance of the Luxembourg flag Shanghai.

Others offer a real experience.In front of a screen that broadcasts images of snowcapped mountains, visitors can smell the Swiss chalet mountain air, spread by machinery, just before getting on a chairlift athentique rooftop while green building. "This is an opportunity to do direct marketing that does not stand in the next decade," says Frank Serrano, head of the France Pavilion at Shanghai.

"Conforama woke up," says Le Figaro Thierry Guibert, head of Conforama, a subsidiary of PPR, whose CEO Francois-Henri Pinault announced the proposed sale. In the first quarter, sales rose 2.6%. "Taking into account closures, the rally reached 4%, our best performance for two and a half years," said Thierry Guibert, who said "satisfied" while relativizing. "The basis of comparison is favorable activity had decreased by 10% in early 2009. But our performance is strong since January. It is the result of the strategy put in place for eighteen months to address a deteriorating situation constantly. "

Conforama cons Ikea

Better yet, "the last six months, Conforama has regained market share in furniture.This is the first time in seven years, "says Thierry Guibert, who thinks she recovered some of its behind Ikea.

Since 2002, the distributor of household goods lost a point of market share per year. His image has deteriorated, customers have turned away from the sign. Ikea also pleased to Conforama its leading position in France in early 2009.

"I was worried about the economic health of Conforama, its level of supply and its attractiveness," admits Thierry Guibert, who took the reins in 2008. Engaged in a modernization plan, Conforama renovated its stores (181 to date in France) and launched a new concept that gives more space to the world of cooking and decorating. During deployment, it is already present in 12 stores and should be applied to 15 more this year. A design space will be in place this summer in 40 other outlets."From 1 July we will be increasing our offering around the tableware and cooking utensils," says Thierry Guibert, who hopes to have 15% of sales in the decorative end of 2013, against 10% now . However, Conforama could "reduce by-case its offer in small furniture, lounge and bathroom.

Location cleaned

Conforama is also preparing to launch a new brand called Confo Deco, with shops 500-700 m2 quick cash. Located in downtown or mall, they offer a wide range of products – including a significant part in its own brand – in six worlds (night, kitchen, bathroom …). The first store will open its doors in October in the shopping center La Part-Dieu in Lyon. A second is scheduled for early 2011 at the heart of Lille."We want a real concept that will strengthen both the proximity to our customers and our legitimacy in the decoration, hopes Thierry Guibert, who plans to open 3-5 Confo Home each year.

"The goal is to boost activity in an extremely volatile," said Thierry Guibert. In 2009, the decline in sales has not stopped Conforama improve its profitability, with operating income up 6%, with 77 million euros in savings and international relief. "This year, our goal is to significantly improve our profitability," said the chief executive Conforama. Owing mainly to sales growth. "We are in running order to beat the market without watering customers tariff discounts," says Thierry Guibert, who is without mention other signs, such as Goal, which break the price.

Especially as the activity outside France (27% of sales) should not negatively influence the results. After the closure of seven stores in Italy and the Iberian Peninsula, the situation has been cleaned and sales depart.

"Conforama has passed its turnaround," says Thierry Guibert, while acknowledging that "it is frustrating to hear some suggest that we make the bride more beautiful for better sell. Instead, I explain to my team that, regardless of the shareholder, Conforama should be pretty solid for redeployment and create value. "

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The U.S. administration smiles again. On leaving the G20 meeting in Washington Friday, Timothy Geitner has been shown. The Treasury secretary now considers that the recovery in the United Etatx will be driven by the private sector in 2011, implying that the economy will need at that time a support plan. "We are quite certain," he assured.

This is the first time since the end of the U.S. recession in the summer of 2009 that an American official raised the possibility of autonomous growth in the United States. In his speech, the more optimistic on the U.S. economy in mid-April, the central bank chairman Ben Bernanke had told Congress that the recent economic evidence "suggests that the increase in final demand would be sufficient to ensure recovery Economic moderate in coming quarters. "He did not, however, ventured to advance a date for a possible self-sustaining recovery.

These perspectives on the future economic conditions are more optimistic than the Treasury Secretary has made since his arrival at this position in January 2009. They are based mainly on economic indicators better than expected since the beginning of April.

Deficit

Asked how the administration intends to reach its deficit reduction monster, Timothy Geithner has again shown reassuring. According to him, Washington has promised to focus on deficit reduction in 2011. A date that coincides precisely with the arrival of a real growth driven by private sector efforts to lessen the fiscal stimulus.The U.S. deficit reached yet about 10% of GDP in 2008-2009 and could rise to 10.6% for the current fiscal year, which ends in late September.

In this regard, the U.S. Treasury Department said Friday in a letter to the chairmen of both houses of Congress and heads of the parliamentary opposition, that he saw sharply lower its estimate of the total cost of all measures rescue the financial sector taken by federal authorities since the beginning of the crisis. The ministry is now talking to a maximum of $ 87 billion, less than 1% of GDP.

Program to support the liquidity the Fed rescue of AIG, Chrysler and General Motors, through the aid homeowners in distress a year ago, the Treasury estimated that the losses of the state would reach 500 billion dollars, or 3.5% of GDP."This means that the federal budget deficit and public debt will be substantially below what was expected before," the Treasury.

The return of job creation

On the employment front, the optimism is also relevant. "Next month, I think we will create between 100,000 and 200,000 jobs," said Vice President Joe Biden on Friday during a trip to Pennsylvania. "At the White House, some say to me: 'do not you progress too'. Well, I'm here to tell you that in the coming months we will create between 250,000 and 500,000 jobs per month, "he added.

For now, the unemployment rate remains high at 9.7% of the workforce. "I'll tell you something, folks. We have not stumbled badly in the fall.As well we have designed our plan to end the crisis, we have a lot of good news on the road to recovery, "assured Joe Biden.

These statements come as the U.S. economy has created jobs in March in a way never seen for three years: 162,000 net jobs were created this month, according to figures from the Labor Department. The country began to "see the end of the tunnel," according to President Barack Obama.

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During a speech Thursday at the University Cooper Union in New York, Barack Obama forcefully defended his plan for banking reform. Faced with dozens of top leaders of institutions in New York, Bush has denounced "the furious efforts of professional lobbyists to shape this legislation in a way that serves their own interests."

Most of the bosses of big banks such as JPMorgan Chase, Bank of America or Morgan Stanley, had not moved to hear this lesson in civics."I am here today because I believe these reforms are ultimately not only in the interests of our country but also in the interest of our financial sector," argued the President of the United States.

"Some on Wall Street have forgotten that behind every dollar borrowed or exchanged is a family that wants to buy a house, finance the studies of one member, create a business or saving for retirement," said Barack Obama. The President relies on the unpopularity of the major New York banks to overcome Republican opposition. The charge of fraud brought against Goldman Sachs by the SEC, U.S. financial markets authority, maintains that state of mind.By their excessive risk taking, the largest financial institutions are held accountable by the crisis that nearly triggered one second Great Depression.

The "surcharge" balance

A version of the financial reform has already been passed in the House of Representatives in December. The text gives the executive the power to dismantle a large financial institution in difficulty. It forces to standardize financial derivatives and to rank them on organized markets transparent. The possibility of requiring commercial banks to abandon their activities altogether derivatives is proposed by some Democrats.

The reform also creates a new agency to regulate financial services to the general public.Barack Obama also wants to cap the size of banks and ban those who have access to the discount window of Federal Reserve to speculate on their own account. The Republican opposition was fierce against the idea of creating a new fund to rescue banks fed by a surcharge for banks. Conservatives see it as an institutionalization of the principle of systematic rescue large banks irresponsible. The possible loss of this part of the reform would respond to their wishes.

The joint venture created by EDF and Enel of Italy, has signed a partnership agreement with Ansaldo, the nuclear branch of the Italian group Finmeccanica. This five-year partnership provides for cooperation between the alliance and Ansaldo "for the development and construction of 4 nuclear reactors that EDF and Enel EPR planning to build in Italy" says EDF.

For its part Areva said it had signed three agreements with companies in Italy on Friday. The first agreement, signed with Ansaldo will enable both companies to work together in Italy, under the planned construction of four reactors conducted by ENEL and EDF, but also in the rest of the world.This partnership will result in particular through cooperation in the engineering, supply of certain equipment and assembly work and testing of commissioning.

The second agreement, signed with Techint, a group specializing in engineering and construction of large industrial facilities, provides for cooperation of two companies in future nuclear projects turnkey worldwide make quick cash.

Finally, a training agreement was signed with the university consortium for research and nuclear technology (CIRTEN). It provides the contribution of Areva to develop new nuclear industrial capabilities in Italy.

These agreements come as the annual summit between France and Italy takes place in Paris, where Nicolas Sarkozy and Silvio Berlusconi, the Italian prime minister, meet.The purpose of these agreements for EDF and Areva is to be in the running for the revival of nuclear energy in Italy from 2013.

Italy banned nuclear power in 1987 following the Chernobyl accident. But this year, a decree established a timetable for the construction of new reactors began in 2013. Silvio Berlusconi, had expressed a wish that 25% of the electricity produced in Italy comes from nuclear reactors.

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New episode in the case of repeated suicide at France Telecom. The Paris court on Thursday opened an investigation into this matter following a complaint last December against the union's South direction of the company for "bullying" and "endangering the lives of others." An unpublished survey that will focus on work organization and the management system of the company.

Me Teissonni?re, counsel for the South, had already confirmed a few hours earlier information from France Info. The investigation should therefore be entrusted to a judge of public health center of Paris. Le Parisien ahead including the name of Pascal Gand in its Friday edition. And as announced by the newspaper, on charges of "endangering the lives of others" was not accepted, contrary to what is called the Labour Inspectorate.

"Methods of management characterizing bullying"

On receipt of the complaint filed on December 14 last, the Paris court has in fact relied on a report of the inspection work to make its decision. A 82-page dossier, coordinated by the labor inspector Sylvie Catala and delivered on February 4 to Paris prosecutors. It refers to "implementation of work organizations likely to cause serious harm to the health of workers" and "methods of management characterizing bullying.

Labour inspection also points in his report "the strategy of restructuring and management" conducted since 2006 aiming to organize the departure of 22,000 employees of the group.It also emphasizes the fact that the leaders of France Telecom have been alerted "on many occasions (…) the effects on health of workers by occupational physicians and regional health insurance funds. Alerts never taken into account.

Eleven suicides since the beginning of 2010

Three people are affected by this case. Front row: former CEO, Didier Lombard, now non-executive chairman of the company. Followed Louis-Pierre Wenes, the former number two and head of operations in France, ruled last fall, and Olivier Barberot, the Director of Human Resources (HR). The company France Telecom is also questioned as a corporation, said Le Parisien.

In 2008 and 2009, the number of suicides by employees of France Telecom rose to 35 as management and unions.The observatory stress and forced mobility, established by the CFE-CGC and South-PTT, has meanwhile identified 11 suicides of employees since January.

Patrick Ackermann, SOUTH delegate, welcomed in the Parisian "this first victory." "That does not mean that there will be indictments, but it proves that justice takes the matter seriously. Now, we'll call the other unions, victims' families, doctors work to a civil, "he adds. The more one is more justice will be hard to kick for touch. "

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