Business World |

2010 marks a departure for French exports of military equipment. With a total of 5.12 billion euros, they are falling over 8.1 billion garnered in 2009 (6.5 billion in 2008). The objective of Paris was to beat all its records by signing for "at least 10 billion of export contracts" is more or less the equivalent of what the French army spending for its own every year.

Nevertheless, the government notes in the twelfth edition of its report to parliament on arms exports to France for 2010, "France has maintained fourth largest exporter of defense equipment (…) in a situation difficult ".

The world export market has stabilized at 70 billion euros.And in total military spending worldwide have slowed to 1.127 trillion euros, an increase of over 1% against a growth of 5% per year between 2001 and 2009. "Over the decade," the report notes, "the United States, the European Union, where Britain and France stand out, Russia and Israel share 90% of the export market."

The decline in export activity in 2010 due to the lag of several large contracts – as in 2009, with sales in Brazil of four submarines and 50 helicopters – that France hoped to sign the year last.

Remarkable performances

In discussions since 2009, the contract for the sale of two ships of projection and command (BPC) Mistral class in Russia was finally signed in June 2011 between DCNS and Rosoboronexport to 1.1 billion euros.It is therefore not recorded in 2010.

And ongoing negotiations with several countries to sell the Rafale combat aircraft built by Dassault Aviation, have not yet been completed. Among the most promising, the Brazilian has cooled with the decision of the President Rousseff to defer any decision to buy 36 fighter in 2012. The second, United Arab Emirates, is still active.

Negotiations, that France hoped to see succeed in 2010, continues with Abu Dhabi. Just over a week, Gerard Longuet had found that Paris had entered "a final negotiation." The defense minister had described as "very high" probability that the contract is concluded. France and the UAE have been negotiating the sale of 2008 copies of 60 Rafale.The French fighter is also short list in India along with the Eurofighter, developed by EADS, BAE and Finmeccanica to supply 126 aircraft to the Indian Army.

France can also expect to have the benefits of its commitment to Libya where the effectiveness of French equipment was again demonstrated (after including Afghanistan) under real conditions in a theater of operation. Of these, the performance of Tiger helicopters (EADS) and the Rafale, whose versatility allows him to perform all the tasks (surveillance, attack in depth, defensive etc.) were noted. "This is the only aircraft in the world capable of performing such a feat today," says a military engaged in Operation Harmattan.

For France, the stakes are high because the Rafale irrigates the French industry, including Ile-de-France and Aquitaine.The French fighter involved 500 industrial partners and represents more than 8000 jobs in total.

ALSO READ:

"The UAE may buy" Rafale "

"The state is negotiating with Dassault to buy drones

Vallourec disappoints investors. In a statement on the occasion of an investor day in Brazil, the Group revises down slightly its forecast for gross operating profit (EBITDA). "Considering the cautious attitude of distributors in markets outside energy due to economic uncertainty, the EBITDA of the second half of 2011 should be at a level similar to that of the first half of 2011," said the group was counting far on a GOP "slightly higher".

Intended as reassuring, Vallourec ensures that the environment is now positive for the energy markets it supplies.It provides always an increase in production output and turnover in the second half, compared to the first, as he had indicated at the end of July release of its first half results.

Good prospects ahead

For operators of the Paris Bourse, this caution does not reassure. To 11 hours, unscrewed from the Vallourec share price 4.30% to 42.09 euros in a market down 0.40%. Time reserved for the decline, the title was back in the fall of scoring more than 8% in early trade. "This is another disappointment confirming our negative scenario for action in the short term," said one trader faxless cash advance.

CM-CIC has also reduced its earnings forecast for the coming years. However, "after two years of transition in 2011 and 2012, the recovery results in 2013 will be very sensitive," the broker understands."Vallourec has shown that the evolution of its global business model will make the group more competitive and increase significantly its medium-term results."

This view is shared by the management of Vallourec, which considers that the negative impact of new projects, including the new steel mill and pipe mill in Brazil and the mill in the United States who will be commissioned in mid-2012, the Gross operation of 2012 should be reduced to about 60 to 80 million euros. The next year should also benefit from price increases implemented in 2011. The group should provide more detail on this last point when publishing its quarterly results on November 9.

ALSO READ:

"Vallourec is a free-falling stock market

"Vallourec worried by the price of raw materials

The optimism was tinged with a slight caution. After Tuesday's rebound, which saw the Nikkei finished up sharply from 2.82%, Asian stock markets continued their upward trend, but less strongly than the day before. After opening up 0.15%, the index shows Tokyo, less than an hour from the close, up 0.29% to 8635.23 points. The Korean KOSPI ahead of his side of 0.47% and the composite index of Shanghai Stock Exchange of 0.18%. Only the Hang Seng in Hong Kong, which opened down 1.42%, remains in the red, down 0.90% to 17,967.30 points. Wednesday, he had won more than 4%.

As on Wall Street where the Dow Jones ended up on 1.33% and Europe, where the CAC surged 5.74%, Asian investors have earned by renewed optimism on the resolution of the crisis debt in the eurozone.According to various sources, Europeans should indeed decide to stabilize Greece and the banking sector business cards. Strengthening the emergency fund indebted countries (EFSF) was particularly mentioned.

The yen also paused in its upward trend against the dollar, which has benefited some export values, especially in electronics and automotive. The dollar is changing around 76.54 yen while the euro is worth about 103.81 yen. As for the oil markets, a barrel of "light sweet crude" for November delivery lost 1.25 dollars to 83.20 dollars in early electronic trading. A barrel of Brent North Sea crude for November delivery gave 96 cents to 106.18 dollars.The previous day, oil had spread over 4 dollars in New York.

ALSO READ:

"Rescue of the euro: Paris ready to go further

"Week crucial for Greece

The new stock markets plunged in Europe and the U.S.: the U.S. economy has not created any net employment in August, according to the latest statistics from the Ministry of Labour. Economists had forecast about 70,000 works. To further darken the picture, the figures for June and July were revised downward, respectively 46000-20000 and 117000-85000 payday advance online.

The unemployment rate, calculated on a different basis, for its part, remained stable at 9.1%. A level consistent with the forecast of analysts.

In the private sector, only 17,000 jobs were created, thanks to the dynamism of services. But this positive effect was offset by job losses of the same magnitude in the public sector.

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."

ALSO READ:

»COMPUTER GRAPHICS – Change the fuel prices

"INFO ON DEMAND – How to fix the price of gasoline

After one week on the black market European markets, policymakers in the euro area seized by the horns of the question. Nicolas Sarkozy must indeed meet this Friday with German Chancellor Angela Merkel, then with the Spanish Prime Minister Jose Luis Zapatero. These exchanges aim to take stock after the bear market in Europe yesterday. The head of state has already mentioned this yesterday with Jean-Claude Trichet, president of the European Central Bank (ECB), which failed yesterday to restore calm on financial markets.

In their discussions, the three heads of state should include mention the announcement by Olli Rehn, Commissioner for Economic and Monetary Affairs this morning of a new stage in the debate on European bonds (Eurobonds). The news was welcomed on the European financial centers.After an open down sharply by 2.5%, the Cac 40 has reduced its losses one hour after opening.

A report on European bonds issued after the summer

Anyway, the official European, the European Commission will, in fact, a report on the subject "after the summer," putting on the front of the stage waving and debate divides EU officials for two years. This idea is not new in itself, proposes to issue debt securities to common European states. These securities are guaranteed by all Member States of the euro area, to allow countries unable to borrow on the markets on terms acceptable to the markets, to finance themselves. In short: it would be to issue debt on behalf of the European Union, as can the U.S. Treasury to communitarise debts of the countries of the euro area.The creation of this type of debt across the euro area would therefore raise the fears of investors about the creditworthiness of a particular state.

In addition to its economic dimension, the project also presupposes political choices instant payday loans. It is indeed based on the principle of mutual assistance in euro, which hit the sensitivity of some countries, notably Germany, which does not hide its hostility to the project. Main complaint: the countries financially "healthy" could only suffer through the European emissions, their solidarity with the countries most in need. In short, Germany does not want to take the weight of debts of some of the euro area.Note however that according to the draft presented by the Luxembourg Jean-Claude Juncker and the Italian Giulio Tremonles, advocates of the project, Eurobonds would not intended to replace the national debt.

Halt in mid-July

After being ignored for six months the project had been emerged from the closet in early July. But 15 days later, a new setback: Jens Weidmann, the head of the German central bank (Bundesbank) has criticized the project, saying that "there was nothing better to destroy a rapid and sustained strong making fiscal policy a common responsibility for the debts of States.This is exactly what some politicians and economists to offer Eurobonds to solve the problems of Greece. "

Whatever the conclusions of the report of the European Commission in September, the debate on the desirability of strengthening the political commitment at European level promises to be more agitated.

ALSO READ:

"The issuance of Eurobonds, the weapon against infection?

"Merkel and Sarkozy will call Zapatero on Friday

– INTERVIEW – B. Prot: "Stop the constant stress on the euro area"

"The ECB tries in vain to calm markets

"The market correction is exaggerated"

The financial strength seems clear on the business side rather than states. Illustration of the disastrous state of American finances, the new number one smartphone, Apple has nearly $ 76 billion in cash and U.S. 73 billion. This represents what the world's largest economy may still spend before reaching the limit of the debt secured by the U.S. Congress (14.294 billion U.S. dollars).

Apple has just completed a record quarter with increases of 125% in profit and 82% of its revenues.With a market capitalization of $ 362 billion, the group "at the apple" appears as the second wealthiest company in the world stock market behind Exxon Mobil and its 395 billion market capitalization.

While Republicans and Democrats are torn in several weeks on the issue of debt, U.S. companies their bets. "One reason why companies put so much money aside is that they want to shelter financially cope with financial uncertainties in the U.S.," said Laurie Simon Hodrick, professor at Columbia University . He added: "As long as the threat of default by the U.S. government continues, U.S. companies will have to pay any interest that way." The war chest of U.S. companies is estimated at 1.2 trillion dollars.

Lefigaro.fr – What conclusions can we draw from the first published results toMember United?

To date, 27% of companies in the S & P 500 have released their interim results, ie 135 companies and 75.6% of them have announced profits above expectations. We left for a good year. This week, the big banks (Bank of America, Citigroup Wells Fargo), were quite surprised in a good way, even if we remain cautious on the interpretation of their figures. Past two years, they have spent many provisions in their accounts, and use it sometimes to beautify their results today. Only Goldman Sachs really disappointed. By sector, energy, basic materials, and technology are doing so well, with respectively 40.3%, 45.3% and 13.7% increase in expected profits for the second half.Note that the consumer sector is basic to the sentence, with an expected fall in profits by 2.1% over the period.

How to explain this performance better than expected?

It has been two years since the publications of societies are generally above expectations. The restructuring made by the companies during the crisis are now bearing fruit. It is currently for companies in the S & P500 on levels of operating profitability of 15% … levels rarely reached. We must remain cautious because the potential for improving these margins is now limited. On the sales side, the expected increase for 2011 is 9%.

The second reason for these surprises is simpler. Analysts are sometimes influenced by the companies that encourage them to be very cautious in their forecasts.This is to avoid disappointment in the markets.

These publications are good they had a positive impact on the markets?

Yes. Google, for example, jumped 12% on the day of the announcement of results exceeding all expectations. The same goes for Apple. While some feared an impact on the financial problems of supply of components of the iPhone (from Japan), the group announced record profits. In the process, his title was up 4.5%. However, always put these results in a corporate market. In the first quarter 2011, the markets were at their highest, and the announcement by a company results in line with forecasts had very little impact its share price Payday Loan for Bad Credit.Today it's different, a confirmation of expectations or a nice surprise on a publication is much appreciated.

If the earnings season continues on the same trend, then markets could leave freely on the rise?

It's not that simple. The market impact of the debt crisis in Europe and the United States is very strong. We are actually in the eye of the storm with these macroeconomic issues, with a market that has stalled in May and operators who are positioned defensively. However, there is a real potential to rebound … as long as the market wants good focus on microeconomics. We are quite optimistic on this point because the next ten days, operators should see much more clear about the solutions in place for at least partially solve the problems of debt.In Europe, the solution to Greece has already restored air markets. And the United States, we can not stay on the current status quo for removing the ceiling on debt. Once this is clarified, the market will again focus on the prospects, and we could have a good August. Especially with a price / earnings ratio of 14.2, we are still 15 to 16% below the valuation levels of 2007, while corporate profits are 10% higher than they were at the time.

What are the sectors that should perform better in your opinion?

Technology stocks seem on track to rebound in the wake of good results from Microsoft, IBM or Intel.The good news in the industry are also positive for the energy sector, which could also rebound strongly, especially the coal industry, where mergers are again more frequent. More generally, there is a return of large transactions, which is another favorable factor for the markets rebound. This is the case for the acquisition was announced, the U.S. by Express Scripts Medco Health to $ 29.1 billion.

ALSO READ:

"Nokia still face the trouble Apple and Google

"A triple expansion plan to calm markets

"No non-payment of Greece, by market

In the world of weight loss, it is called "Dukan effect." Far from referring to the weight loss of the followers of the method of Dr. Pierre Dukan high protein, the term refers to the earthquake has caused its rapid success in the market regimes.

"Since launching our website in 2008, 500,000 people have used our services," says the Figaro.fr Eric Levasseur, CEO of RégimeDukan.com, online service to support the regime. This figure does not however say how many customers are currently active on the site. To achieve this, the entrepreneur says he has not spent a dime on advertising. Media coverage and the very important word of mouth was enough. In addition, this success is due to an unbeatable price on the market, to 18 euros per month. In comparison, subscribe to premium services of Jenny Craig costs 380 euros per month, those of Weight Watchers, about 40 euros per month.

Three ingredients

Otherwise, the business model is based on Dukan a classic recipe with three ingredients. First, the publication of a book, "I'm not losing weight," bestseller in 2010. Then, offer coaching as a service fee. It is the function of RégimeDukan.com held by Marc Simoncini, Meetic founder, Eric Levasseur and children of the inventor of the method.

Last element of the strategy, products "house" manufactured under license, such as oat bran. "The 25 food products we offer for sale are regularly out of stock", says Eric Levasseur. The sale of meals, also proposed by Jenny Craig, has been tested since 1973 in France by Weight Watchers, the history of the area. For the latter, "the business of licensing products represent only a few percent of revenue," says her manager Corinne Pollier France.

The success of Dukan has not stifled competition. Instead, he seems to have created a renewed interest in France for the plans. Thus, Weight Watchers France announces "growth for two years" and has 120,000 active customers in early July. Jenny Craig brand, launched on the market in early 2010 by Nestlé hexagonal, celebrated for its part, the 10,000 th customer in late June. "It's beyond our initial objectives, ensures the boss of France's premium brand, Erick Moreau. We hired over 30 people since early 2011 and now have over 100 employees. "

Booming sales of surimi

Dukan is not only limited effect on the market methods of diet (500 million euros of turnover, against 5 billion for the sector of thinness at large). It also causes a tidal wave less visible in the food products that "light" generated 1.5 billion euros.It's simple: all the foods recommended in its method Dukan turn into gold. The turnover of surimi has enjoyed a double-digit growth in recent months. Sales of fresh cheese (fromage blanc in particular) grew by 14.5%, according to the specialist market research SymphonyIRI.

Still, with the recent controversy about the effectiveness of the regime and the disappointment of Dr. Dukan court, the effect will last Dukan he? "The ruling will not affect our business. The public is not fooled, says Eric Levasseur. We record even a 30% increase in registrations in the first half of 2011. "

Some competitors, however, fear side effects. "The media effect Dukan has cast doubt on the effectiveness of all plans," laments Erick Moreau.Others, like the union's general secretary of dietetics, Jean-Loup Allain, relativize: "For 30 years I have been in the business, plans star there was every year. Dukan has simply replaced the previous ones. "

Dukan is the world

With its success, start-up runs on equity and did not have to organize a capital increase from an initial one million euros. Its international expansion is also financed his own money, said Eric Levasseur. Closely following the launch of the book "I'm not losing weight" in these markets, RégimeDukan.com is being launched in Russia, China, Poland, Germany. It has been online for one month in the United States. In addition, it is already present in Spain, the UK and Italy.

At the same time, Dukan is recruiting 10 persons in Russia, fifteen in the United States.In total, the start-up has between 30 and 40 people abroad, in addition to its fifty employees in France, plus thirty in the rest of Europe.

The catastrophe of Fukushima has not cooled the ardor "nuclear" in Finland. Three and a half months after the accident on several reactors in Japan, the electrician Fennovoima officially launched a tender to build a new plant, which will be the sixth of the country. Four are already operating, while the fifth, Olkiluoto 3, the site is controlled by the French group Areva, will enter service in 2012.

The same Japanese Areva and Toshiba are the two groups identified by Fennovoima to participate in the tender whose outcome is expected for 2012-2013. The dual French-Japanese technology will also be a clash between the pressurized water reactor, the EPR, proposed by the European company, while his opponent defends an Asian model for boiling water, the ABWR.Both show a roughly similar power.

It's been exactly one year that Finland has launched the process to build new nuclear generation capacity. In July 2010, two electricians, TVO and Fennovoima have been authorized by Parliament to build each plant bad credit pay day loans. Since then, Fennovoima has selected two sites to host this facility. Meanwhile, the group sifted through the different reactor technologies before choosing the respective models of Areva and Toshiba.

Three years late

For TVO, things are a little different. The tender for an additional reactor is not yet launched, but the first Finnish utility is already working with Areva as operate the Olkiluoto 3.Incidentally, the fact that Fennovoima has chosen to confront the French technology Toshiba shows that the Finnish authorities have not focused too much on the delay of the Olkiluoto site. This effect will be delivered in three years late, while the bill has almost doubled to 6 billion euros, against a budget of 3.5 billion initially.

But it must be said that the catastrophe of Fukushima had beneficial consequences for the EPR. Its high level of security has become a very significant advantage.