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François Fillon on Monday took a trip to the nuclear power plant of Bugey in Ain – one of the oldest park of EDF, one of the reactors suffered its general review of thirty years – to reiterate the government's argument in favor of nuclear energy. Being understood, said the Prime Minister, that "safety is the top priority." The end of a busy year on the last record. Six months after the disaster of Fukushima, Japan, EDF must provide a copy within two weeks of testing the resistance of French power stations.

ASN will then evaluate, by December, the information on the resistance of plants to earthquakes and extreme flooding.Asked about the failure to take into account the risk of terrorism in these tests, François Fillon acknowledged that the current plants – unlike the EPR reactor being built in Flamanville – would not survive the fall of a "jumbo" in the case of an attack like September 11, 2001 but that there are "other means than concrete" to counter an air attack, referring to anti-aircraft missile batteries and fighter on permanent alert. The prime minister also responded to a question about the resistance of the Flamanville earthquakes, following the information published in Le Canard chains."No need to read Le Canard chains, he said, all information is on the website of the Nuclear Safety Authority" (ASN) has called, playing the role of "sting", a better resistance of building control fast payday loan.

Besson favor of "stress tests"

The Prime Minister also called for the establishment of international safety standards. A goal that will not be met "for years" according to Andre-Claude Lacoste, President of the ASN, because of the hostility of countries like China, India and the United States. Eric Besson, Minister of Industry, will defend to the IAEA in Vienna, September 19, the idea to conduct stress tests in all nuclear countries. Pending the possible orders of the nuclear policeman at the end of the year, EDF provides better security of its power at all times.Example, during the four months off during the revision of the number 5 reactor Bugey, pre-authorization for an extension of ten years, 25 million euros is being invested to enhance its resistance to earthquakes.

Security has its price. Henri Proglio, the chairman of EDF, has also invoked July 29 to assert that it would be "natural" that the price at which EDF has to sell part of its current competitors (price Arenh) increases until to 46 euros per megawatt hour, while the authorities have set at 42 euros on 1 January 2012.

Responding to the BBC on this, François Fillon said "common sense" the current level of Arenh but added that more security funding for renewable energy made inevitable the rise in electricity prices. In government, he added, to control it as much as possible.

Wall Street looks set to continue the rally that started in last weekend. On Monday, the Dow opens up 0.48% to 11,323.44 points. The Nasdaq index before for its 0.60% to 2522.93 points.

As in Asia, the U.S. markets should react positively to the announcement of a contraction much weaker than expected Japanese GDP in the second quarter. But as in Europe, they should remain cautious on the eve of an important meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel on the reform of the governance of the euro area. They should discuss ways to implement to prevent contagion problems of sovereign debt to the rest of the region.

But Germany has already warned investors: this meeting will lead to "nothing spectacular"."It will be a working meeting on the governance of the euro area in line with European decisions taken in late July," said the spokesman of the Ministry of Finance. The latter also confirmed the skepticism against German Eurobonds solution yet desired by many investors. "The Euro-bonds are not an option," ruled the spokesman. These ads have already resulted in demoralizing the European investors.

Real estate for

Until the final conclusions of the meeting, U.S. investors are learning that manufacturing activity in the New York area declined for the third consecutive month at -7.7, 3.9 points lower than July .

The index of the property market is expected later.

Note that the currency market, the Euro rises slightly against the greenback at 1.4287 dollar.Oil markets, oil prices opened up on Monday in New York. A barrel of "light sweet crude" for September delivery was trading at 86.13 dollars, up 75 cents. Prices were down during the European trading, erasing their gains made in Asian trade in a market nervous and still haunted by persistent concerns about global growth and the debt crisis in the eurozone payday loan lenders. A barrel of Brent North Sea crude for September delivery was trading at 107.56 dollars on the Intercontinental Exchange (ICE) in London, down 47 cents from Friday's close.

Google swallows Motorola Mobility

On the corporate side, Estee Lauder and Sysco should publish their results on Monday.

Lowe (-0.27% to 19.37 dollars) has already reported sales below expectations in the second quarter of its fiscal year and lowered its annual targets for the second time in three months, consumers pushing their development projects until later because of sluggish growth.

Google (-0.88% to 558.94 dollars) will buy the mobile phone manufacturer Motorola Mobility for $ 12.5 billion in cash.

Time Warner (-0.43% to 65.25 dollars) has reached an agreement to buy the cable operator Insight Communications to Carlyle for three billion dollars in cash.

Bank of America (3.20% to 7.42 dollars) has announced the sale of its activities in the international credit cards in Britain, Ireland or Canada.

Boeing (0.16% to 61.84 dollars) announced it had completed with Air Lease Corp. an order valued at $ 2.5 billion on 14 737-800 aircraft and five 777-300ER.

Pfizer (2.41% to 18.29 dollars) announced Monday it had won before a U.S. court case against Teva Pharmaceutical Industries of Israel, preventing the global generics to produce a copy of Viagra before 2019 .

Transocean (2.15% to 56.81 dollars), listed in New York, wants to buy the Norwegian group Aker Drilling, for a total of 1.1 billion Swiss francs (1 billion), according to a statement Monday.Several large shareholders, representing 65% of the capital, have agreed to the deal, said the Swiss.

The American specialist craft materials Grainger (2.12% to 138.72 dollars) on Monday announced the acquisition of the Dutch distributor of fasteners Fabory Group for $ 344 million (242 million).

A consolation for drivers: when markets are seeing red since the deterioration of the American note, the fall in oil prices will lower the prices a few cents of gasoline. "The impact of pump prices will be automatic, mechanical, it's something we'll see this week and then in the course of next week," announced the president of the French Union of Petroleum Industries ( Ufip), Jean-Louis Schilansky Tuesday morning on Europe 1.

"A sizable decline" is expected, according to Jean-Louis Schilansky, who expects 4-5 cents less per liter of gasoline. The lead-free 98, currently at 1.52 euro and should revert to below 1.50. As for diesel, a liter will cost less than 1.30 euro.For how long? The president of the Ufip is silent: the impact takes place mechanically from one week to another and it is impossible to predict whether oil prices could erase some of their losses.

Light crude to its lowest level since September 2010

Meanwhile, the turmoil in stock markets continues to drive down oil prices, investors anticipating a slowdown in global activity fast cash online. Tuesday morning, a barrel of Brent fell heavily, breaking briefly the threshold of 100 dollars in Asia before recovering. Around 9 o'clock, it was down 0.65% to 103.07 dollars. In New York, the "light sweet crude" is, too, fell below 80 dollars and remains below this threshold, after hitting 75.71 dollars, its lowest level since September 2010.

Oil distributors in July that they had assured reverberated in the same way the rise and fall of oil prices on the prices at the pump. "To say that the price evolution is faster in one direction than another is not fair", had assured the President of the French Union of Petroleum Industries (Ufip), Jean-Louis Schilansky, to meet Critical Labour Minister Xavier Bertrand. The Energy Minister Eric Besson also stated that "Total [had] passed down as fast as the rising trend in oil prices."

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The 3700 points were in the viewfinder of investors in the Paris Stock Exchange on Wednesday. They were exceeded in the early exchanges. At the close, the CAC shows a new gain of 1.61% to 3754.60 points. Yesterday, the Paris VAIT has already managed to recover, ending on a rise of 1.21% to 3694 points.

Other major European markets advance in unison. The London Stock Exchange was also up, the stock exchanges of Madrid and Milan are the most active with gains of 3% each. In London, the FTSE-100 index gaining 1.1% to 5853.82 points in mid-session and featuring Dax index of the Frankfurt Stock Exchange advancing 0.40% to 7221.36 points.

Operators are encouraged by the good performance of U.S. markets, driven by advances in parliamentary negotiations in the United States for raising the ceiling on the debt.President Barack Obama for the first time reported "progress" in this debate, adding that the new Senate plan, presented Tuesday, was "consistent" in its approach. The Chairman stressed however that "not much time" before the deadline of August 2 to avoid a default. Wall Street was also reassured by good indicators of industrial performance and better than expected. Asian markets were also sending positive signals this morning.

Time, however, should still be prudent on the eve of a crucial European summit for the future of the euro area. The heads of state are to meet Thursday in Brussels to discuss the bailout of Greece. Several proposals for involving the private sector are on the table.

On the currency side, the euro rose slightly against the greenback at 1.4181 dollars against 1.4150 dollars late Tuesday.Oil is, him up: a barrel of "light sweet crude" for delivery in August takes 80 cents to 98.30 dollars and that of Brent North Sea crude for September delivery gained 69 cents to 117.75 dollars .

Values ​​to follow

Havas: + 1.88% to 3.46 euros

The advertising group has announced the acquisition of a majority stake in the Australian Host, the first independent agency of the country, for an undisclosed sum.

Saffron: + 3.25% to 28.60 euros

Tuesday the group received the green light from Washington for the purchase of American specialist of biometrics L-1 Identity Solutions. The agreement was announced last September for $ 1.1 billion in cash.

Edenred: -5.14% to 20.49 euros

The company specializes in prepaid service said Wednesday he was informed of an investment for 8% of its capital.Nearly 18 million shares have been placed Edenred Wednesday market at a price of 20.30 euros, a total of around 367 million euros, according to a source familiar with the matter said that the placement was the act of a U.S. institutional.According to a source market, it is South Eastern Asset Management.

Alstom: -1.30% to 37.95 euros

The group said Wednesday sales down 12% in the first quarter of fiscal year 2011-2012, to 4.5 billion euros, reflecting the "low level of orders registered during the crisis," but a sharp rebound its order intake over the same period (+44%).

Schneider Electric: + 1.52% to 106.70 euros

The group announced an extension until August 2 of its friendly takeover of two billion dollars (1.4 billion euros) on the Spanish Telvent, which it already owns to 19 July, before the closing date of the offer, 97% of the shares.

Laurent-Perrier: -1.15% to 97.75 euros

The group announced Wednesday an increase of 11.5% of its turnover in the first quarter thanks to a mix effect prices soaring and exports still strong.

Accor: + 3.03% to 30.40 euros

The group was optimistic Tuesday in announcing an acceleration of organic growth in the second quarter due to increased occupancy rates and the gradual recovery of prices.

ADP: + 1.12% to 61.38 euros

The group announced a 4.6% increase in passenger traffic at its airports in June, driven by growth across all trajectories with the exception of Africa and the Middle East.

PPR: + 0.98% to 128.75 euros

Fnac, a subsidiary of luxury group, unveiled Tuesday a five-year strategic plan, called "Fnac 2015", which should enable it to boost sales after a disappointing performance.

EADS: + 3.30% to 24.72 euros

Boeing, seeking to rescue a potentially very large contract with American Airlines, has offered to install a new engine on the current 737, while the airline is still considering a generous offer to Airbus. Moreover, the French military shipbuilder DCNS said Wednesday negotiate with the German Atlas Electronik the creation of a joint venture between their respective activities of underwater weapons, confirming a report in Les Echos.Atlas Elektronik is owned by EADS and ThyssenKrupp.

Biomerieux: -1.44% to 78.46 euros

The group announced the acquisition of French company Argene Molecular Biology and confirmed the objective of growth of its business year after an increase of 3.5% of its turnover in the first half of 2011.

Sanofi-Aventis: + 1.14% to 55.06 euros

The Canadian Valeant Pharmaceuticals announced yesterday the signing of an agreement to buy the French laboratory marketing rights and distribution in Canada of a cream against osteoarthritis.

Manitou: + 1.03% to 21.65 euros

The group raised its forecast Tuesday for 2011 after signing up 45% of its turnover in the first half despite the continuing difficulties of supply.

Always on the side of publications, after market, Unibail-Rodamco will present its second quarter results and Ubisoft announce its first quarter 2011-2012 revenues.

The board of the International Monetary Fund (IMF) met Friday in Washington, approved, as expected, the release of a new tranche of 3.2 billion euros for Greece.

It is in addition to 8.7 billion euros released a week ago by the European Union. This round of 12 billion euros is the fifth of the rescue plan 110 billion approved last year. It should enable the country to repay much of its debt maturing July 15 (EUR 2.4 billion to good six months) and 22 July (2 billion euros good for three months).

But Greece, the public debt (354.5 billion euros at end March) shook up the United States, is not out of the rut.Athens calls for a hue and cry a second bailout, a value equivalent to the first, or 110 billion euros, for which the Europeans require the participation of the private sector. A meeting of the Eurogroup in Brussels next Monday, followed by a council of finance ministers the following day was supposed to define its contours. But it will not succeed, as the differences remain significant even within the Union. At best, a decision is expected in mid-September, confirmed the new Greek Finance Minister, Evangelos Venizelos.

Taboo

For many scholars, starting with the rating agencies as criticized in recent days, the private sector's contribution to the recovery plan would resemble a Greek default, since creditors will not get their refunds in time and hour.A nightmare scenario that Europeans seek to avoid at all costs. Without having yet found the parade.

And meanwhile, some still waving the event of a release of the euro area. An expert in Brussels who had requested a report before he leaves office, a judge at the end of the decade "there may well still have 17 members, but the question is whether this will be the same that 'today. "

The subject is taboo, but if Greece were to be found in default, many experts believe that the only way to redress the country's economy would be a devaluation, and thus an exit from the euro. This had been done in Argentina in 2002, winning its currency, the peso, the U.S. dollar.

Too big banks are no longer popular. International regulators working on a way to discourage institutions to reach a critical size, representing a systemic risk. The aim is to avoid repeating the situation in 2008 when, at the height of the crisis, governments were forced to come to the rescue of the banks described as "too big to fail", ie plants with failure could endanger the financial system.

The Basel Committee on banking regulation, which will meet next week and consider the implementation of specific measures to the thirty largest banks, reported Bloomberg and the Financial Times. The idea would be to impose new capital requirements higher than other institutions through the application of a new specific prudential ratio.If these measures are validated, the additional reserve capital that institutions would be selected will earn 3.5% of their risk-weighted assets according to Bloomberg, or 2.5% reported the Financial Times. Restrictions in addition to 7% imposed under the Basel III standards.

The new ratios would be imposed on institutions sliding scale depending on the size of banks and their links with their competitors. The Bloomberg stressed that the highest ratio of 3.5% is not applicable today. But it would serve to discourage institutions to grow further.

France wants to exclude Crédit Agricole and Societe Generale lists

In total, nearly 30 banks that would be an increase in their capital reserve requirements. The most severe restrictions relate eight institutions including BNP Paribas.Four other European banks (Deutsche Bank, HSBC, RBS and Barclays) and three U.S. (Citigroup, JPMorgan and Bank of America) are also involved free business cards. They would be forced to comply with a Core Tier 1 ratio, an indicator that measures the equity of 9.5%, the Financial Times. A second level would include four other banks.

But the list of banks involved are not yet fixed. The French regulator to try and ensure that Crédit Agricole and Societe Generale will be free of these new rules.

In addition, regulators have not defined the means by which institutions can be put in order.The arsenal of new rules imposed specifically to institutions "too big to fail", whose size deemed critical obliges the authorities to intervene in case of bankruptcy, should be ready for the next scheduled for November G20 stated Mario Draghi, chairman of the Financial Stability Board, in April.

But these new laws should not prevent banks from merging. "Institutions should already get the green light from regulators before any merger, the new ratios will be charged an additional constraint," says a corporate lawyer at the agency Bloomberg.

Little reaction in the markets

These ads have little impact on the shares of French banks. In the morning, the folds of the securities of banking stocks are less important than their benchmark index, the CAC40.The banks operate in a pocket-handkerchiefs: Company Génarale folds 0.5% 0.4% BNP Paribas and Credit Agricole 0.3% against a fall of 1% for the CAC 40.

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Pressure mounts on the management of Air France-KLM. 144 MPs of all persuasions have signed the petition launched by Bernard Carayon, UMP deputy from the Tarn, to induce Air France Airbus in favor of a mégacommande long-haul aircraft. Monday, Pierre Lellouche, the Secretary of State for Foreign Trade, has announced its intention to meet with Pierre-Henri Gourgeon, the CEO of Air France-KLM to seek "clarification" on its intentions. The meeting should take place this afternoon.

For the government, bad foreign trade figures – which widened to over 7 billion euros in April – have sounded like a severe reprimand. Particularly for companies whose shareholder is the State. Air France-KLM, it holds that "15%" of capital.But Pierre Lellouche believes that the company can "pass the buck" in a state that has "greatly helped" the group "when he had problems with Brussels." A similar approach to reprimand respondent last week to PSA Peugeot Citroen, after the revelation of its possible plans to close two factories in France. PSA is not a public company, but it has benefited from state funds during the crisis.

Strategic choice

The political pressure put on Air France is the extent of the challenge: a mégacommande – the first made jointly by Air France and KLM – a hundred long-haul aircraft. The project is described as historic by the leaders of Air France-KLM themselves: it should be in the tens of billions of dollars. The verdict of the direction the company should have to fall shortly after the general meeting in early July.Now, executives of Air France-KLM believe that the announcement will probably be delayed for several weeks, "the time that the discussions become less passionate."

Internally, the political turn taken by the back hurts. Bernard Pedamon, the pilot representative on the board of directors of Air France said he was "surprised and discontented." "These are the strategic choices that can be for an airline. It is a commitment for another twenty years to respond to economic considerations, he says. Currently, we are witnessing the return of our old demons. The days when you could bring in managers office at the head of the company or impose choices of planes is a bygone era. "

Currently, the weight of the two aircraft manufacturers in the fleet of the company tricolor is not identical.On all its long-haul aircraft, Air France totals 63 Boeing against Airbus 35. The company has indeed bought many Boeing 777-300 at a time when Airbus had no exact equivalent. However, all of its medium-haul (or 153 units) are Airbus.

The controversy of recent days is all the more surprising that for several months, officials of the fleet of Air France have expressed their intention to mix Airbus A350 and Boeing 787. "The case studied by our teams for the purchase of these devices are not made on a corner table," says an executive of the company. "We are studying a number of criteria: the choice of engines, the maintenance cost, the impact on our maintenance activity …" considerations rather distant from the campaign themes.

On Tuesday, a giant glass, Corning, and a French specialist in composite materials, Mersen, announce an alliance whose ambition is astonishing: the partners plan to revolutionize the manufacture of drugs. Corning has indeed used the properties of glass to develop a "reactor" to better control the manufacturing process of molecules for drug or fine chemicals.

Everything works, but to move to industrialization, it is necessary to use elements that exhaust heat very well. And this is where Mersen, specializing in composites. The agreement with the ex-Carbone Lorraine into that framework."The technology developed by Corning combined with our expertise in silicon carbide products represents a technological breakthrough for the pharmaceutical industry," said Luc Themelin, board member Mersen. The discussions lasted nearly a year and a final agreement covers the exclusive supply of ceramic microreactors Mersen in Corning.

This type of agreement is of particular interest Mersen. French society is indeed an OEM, by definition particularly vulnerable in its relations with its customers. To protect its margins, the group has developed a strong expertise in composite materials. It thus becomes an indispensable partner to its customers.

Using the special graphite, the group has made a remarkable breakthrough in the solar field. Five years ago, Mersenne was not present in this sector.This year, it should achieve 100 million euros of turnover short term personal loan.

Products manufactured in Tarbes

In the end, Mersen recorded 13% growth in its turnover last year to 741 million euros, an operating margin of 10.5%. And there are other sources of growth in the LED or the pharmacy, as evidenced by the agreement with Corning.

Today, there is no direct revenue associated with this contract. "Corning is currently negotiating with potential customers, mainly in Asia. We hope that the first contracts will be signed in September. To Mersenne, this means that the first revenues could arrive next year, "says Luc Themelin.

Corning's new product has many advantages over earlier technology: less investment, lower energy consumption and better control during manufacturing.The rise will take time, however, pharmaceutical companies not renewing their plants very often.

Mersen products related to this contract will be manufactured at a factory in Tarbes, which belonged to Boostec, bought by Mersenne in April 2010. Before the acquisition, the plant realized about seven million euros of turnover. "This contract would allow us to triple the revenues of the plant to the next three or four years, says Luc Themelin. Beyond that, we will make additional investments to increase capacity. "

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Coincidence of timing. IMF-EU Troika-ECB chose the last week of the campaign to start in Lisbon's assessment mission. Whatever the outcome on Sunday of the early legislative, the next government already knows he will receive a very limited scope. Winner given according to recent polls, the opposition leader, Pedro Passos Coelho (PSD-center right), should apply as soon as possible the austerity program imposed by the troika, in exchange for an aid package of 78 billion euros.

Click image for larger graphic.

70% stake sold
It was in the air for a few weeks is now official: Paris Saint-Germain will be partly sold by Colony Capital, its current owner (who owns 95.8% of capital), Qatar Investment Authority, the sovereign wealth fund of Qatar (QIA). The information, released Tuesday afternoon by Le Parisien on its website, was confirmed in the wake of the club itself. "Colony Capital and investment company in Qatar announced that day, have finalized a draft agreement under which the new partner becomes a shareholder of the Paris-Saint Germain at 70%, Colony Capital 30% maintaining club, "says PSG in a statement. The boss of Colony Capital Europe, Sebastien Bazin, shall hold a press conference Tuesday afternoon to clarify the terms of the transaction.Le Parisien advance for the time a sale price between 30 and 40 million, without specifying whether this amount takes into account the club's losses, estimated at 19 million euros for the season ending, and its accumulated debts (between 15 and 20 million).

Sébastien Bazin said already, in the statement posted by the PSG, "since the entry of Colony Capital Club, we played our role as developer, coach of a stage of life of the GMP. Over the past 5 years we have provided the club a quality management team which has enabled the PSG have now training tools and training worthy of the great European clubs, and a team playing now in a peaceful environment. Our responsibility as a shareholder was also preparing for the future.That is why we sought the best possible partner for PSG a place in history. We found with our new partner who shares this ambition. "

No change in the organizational
This change in ownership should not, at first, change the current organization of the club since Robin Leproux should remain as president and coach Antoine Kombouare. However, QIA, which owns luxury hotels in the capital and is part of the capital of large French companies, could provide more resources to leaders in Paris for the summer recruitment campaign. "He (Editor's note: the new partner) took the measure of the importance of the work done by all of the current management of the club and wants to work with him to continue the efforts undertaken by the PSG to reach the highest levels" ensures Sebastien Bazin.What hoped to attract big names this summer (Alou Diarra, Kevin Gameiro, Dimitri Payet) …