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After the strikes, the seismic risk. The difficulties accumulate in building long-awaited Grand Stade Lille. Started in September 2010, work could take longer than expected, due to a change in the classification of the site northerner on the scale of seismic standards. Since the entry into force on 1 May new standards of seismic hazard of the site hosting the future stadium is indeed changed from "no" to "low".

What put a little more at risk delivery, planned for July 2012, the sports arena of 50,300 seats (against about 17,000 for the current Stadium north of Villeneuve d'Ascq). Peter Berger, the executive director of Eiffage, the construction group in charge of construction of the building, has even called him on Thursday of "non-zero" probability that the works are delayed.Concern, as the club relied on Yankee start next season in its new enclosure.

Delays are common

"Overall, the case of clubs, a stadium delivered on time is a rare occurrence, says Michel Desbordes, a sports marketing specialist and author of neo-sports marketing. Apart from international competitions, where the issues of image of a country are important, it is very common that a project is continually delayed. Even Olympique Lyonnais (OL), whose business model is currently considered the most effective, has difficulties in advancing the Stadium of Light. "

For France champion football title, the expected financial impact of this new project could be delayed."Arsenal, whose business model is comparable to the LOSC, saw its sales jump 58% in the year of commissioning of its new stadium, the Emirates Stadium during the 2006/2007 season "Michel Desbordes analysis. Extrapolating this example to the club Lille, LOSC could see its sales jump by over 37 million, compared to the estimated budget of 75 million euros for the 2012/2013 season. It would be similar and even more of the OL and its 160 million annual budget.

Less attractive media

The delays do not affect these numbers, especially as the additional time construction should be limited to a few weeks totally free credit score. But "it would deprive the Losc its new stadium for a season, warns Michel Desbordes.Although the Grand Stade Lille Métropole was delivered in December 2012, it could not be put into service before the next season or in 2013/2014. " In addition to the shortfall in terms of ticketing, LOSC would be so deprived for a few more months of additional revenue related to greater media exposure. However, this parameter now weighs about a third of the money collected by the clubs under the TV rights. According to the blog dedicated FootBiz, they would have amounted to 42.5 million euros for the champion of France for the 2010/2011 season.

Moreover, competitive sports club could be undermined, some players have taken into account in their decision to remain at the club northerner, the prospect of work in a stage art and visibility.

In addition to these issues difficult to quantify financial benefits, harm the most accurate for the club remains the additional invoice from new technical requirements. According to information Chained Duck, the additional cost compared to 324 million euros expected, would reach nearly 100 million euros.

From this point of view, Eiffage and the urban community of Lille Métropole pass the buck, saying it is not their responsibility to support the financial consequences of a decision state. The construction group, however, should think twice to avoid blocking the progress of work in such a status quo could result. Last June, the Polish city of Bialystok has decided unilaterally to break a contract for close to 40 million euros to build a football stadium, citing delays too great. Eiffage challenging a decision.

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Essilor International is innovative. According to the global glasses, "75% of wearers expect an anti-fog solution." To meet this demand, the group decided to create anti-fog lenses under the name of Optifog. This new "represents a disruptive technology," with a "layer with hydrophilic properties," said Essilor. With this new product, which is "all continents", Essilor International is "1.2 billion consumers worldwide."

Results aside, the mood is set fair. The group recorded the first half revenues up 6.9% to 2.06 billion euros and net profit up 30.7% to 258.2 million euros. Adjusted net income per share was 1.25 euro, up 9.3%.

Essilor attributed these results to the "increase in volumes related to the expansion strategy in high growth markets, the rapid development of the supply in the mid-range" and the "growth of industrial investment."

Context "increasingly uncertain"

These performances allow the group to maintain its growth objectives in sales "between 6% and 8%" (excluding currency and acquisitions, strategic) for this year, despite "an economic environment more uncertain." Essilor also wants to maintain the high level of profitability, excluding strategic acquisitions.

The specialist in ophthalmic optics says it "will continue to rely on innovation, operational efficiency and financial capacity to consolidate its position in the high end."The group also intends to "continue its conquest in the mid-range and benefit from the rapid expansion of high-growth countries."

At the Paris Bourse, this news is greeted coldly. In early trade, the title Essilor loses 0.11% to 53.07 euros in a market down 0.05%.

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This Friday looks bleak at the Paris Bourse. The CAC 40 starts on the day down 0.37% to 3064.49 points. London and Frankfurt lost 0.35% and 0.38%. 1.09% loose Madrid, Milan were down 0.30% and 0.61% in Zurich.

Operators are struggling to recover from their emotions after the new European stock markets plummeting and U.S. yesterday. This morning, Asian stock market sent negative signals with indices in very sharp drop. This bad mood due to a surge in concern about the state of the global economy, reinforced by poor indicators of the Atlantic. Bad index measuring the Philadelphia Fed manufacturing activity in the region, lower sales of existing homes in July, new jobless claims rising again during the second week of August … All signs of the apparent stagnation of growth in the United States.

Concerns about U.S. growth fears add to the debt crisis in Europe, European banks are the first to bear the brunt. In its Thursday edition, The Wall Street Journal reported on fears the U.S. Federal Reserve on the liquidity of European banks. And for the first time since February, the European Central Bank (ECB) has given a major dollar loan to a European bank, whose identity was not revealed. An action that reinforces doubts about the ability of banks to refinance.

Morgan Stanley has added his two cents to panic, explaining that she perceived the United States and Europe as "dangerously close to recession." The President of the European Union, Herman van Rompuy, tried Thursday to calm the mind by ensuring that there was "no new recession" in sight.And this morning, Chinese Vice President Xi Jinping has reaffirmed that the U.S. economy was "resilient". In vain.

"The bears are back"

"The bears (pessimistic players, ie) are back in force that night, after disappointing U.S. economic indicators and renewed fears about the stability of European banks, which prompted investors to push the button sales," said Ben Potter, an analyst at IG Markets in Australia. "There seems to be getting ready for a weekend very ugly, with a market dominated once again by fear and panic," he added.

Gold reached a new record Friday morning in Asia, to 1,837.50 dollars per ounce, due to the concern. And oil, which fell 6% in New York yesterday, continues to fall in morning trading.A barrel of "light sweet crude" for September delivery lost 1.69 dollars to 80.69 dollars while that of Brent North Sea crude for October delivery gave 68 cents to 106.31 dollars.

No significant indicator that could reverse the trend, are expected on Friday.

Values ​​to follow

The banking sector

European financial stocks, which had been rolled by a renewed tensions in the interbank market and concerns about the short-term refinancing of banks are still misguided. BNP Paribas (-3.22% to 33.11 dollars), Natixis (-2.90% to 2.81 dollars), Credit Agricole (-2.70% to 6.06 euros), Société Générale (-2, 69% to 21.02 dollars) and AXA (-0.56% to 10.28 euros) are in the red.

Danone: -1.75% to 46.05 euros

Nestlé, the group became a favorite activity for infant formula, Wyeth, Pfizer subsidiary, valued at approximately ten billion dollars (seven billion euros), officials said a source familiar with the bank.

Technip: -3.67% to 57.77 euros

The French engineering group said it had received a letter of intent on the part of the American oil company Anadarko for the construction of an offshore platform for the Gulf of Mexico.

The U.S. stock markets have moved from dark red to balance on Friday afternoon. Opening on a steep downward trend after poor economic data, the indices on Wall Street have reduced their losses after the speech of Barack Obama. Around 17:15, the Dow Jones down more than 0.25% at 12,210 points and the Standard & Poor's 500 yields 0.02% to 1300 points while the Nasdaq 100 round ahead by 0.25% to 2773 points. Thursday, Wall Street recorded a fifth straight session decline.

Barack Obama spoke Friday. He urged Republicans and Democrats to find a solution to raise the debt ceiling by 2 August, when the United States would find themselves in default if no compromise was found."We are very far from reaching an agreement, there are plenty of solutions," tried to reassure the U.S. president, stating that "any solution should be supported by both parties."

A dicours has reassured the markets but in the beginning of sessions, investissuers received three cold showers on.

The bad news on the front of the U.S. economy weighed heavily on the trend of economic growth the U.S. has slowed sharply in 2011 to 1.3% annual rate in the second quarter in a first estimate published Friday by the U.S. government.This growth rate, below analysts' expectations (1.8%), is particularly low given the significant revision of the first quarter, now estimated at 0.4% against 1.9% in June

A little later, more bad news: the U.S. consumer sentiment deteriorated more than expected in July, falling to a level not seen since March 2009, weighed down by rising unemployment and stagnating purchasing power, reveal final estimates of the survey Reuters / University of Michigan reported Friday.

In addition, economic activity in the Chicago area (northern USA) decelerated in July, according to the index released Friday by the professional association ISM, which stood at 58.8 against 61.1 in June

Moody's lowers rating outlook for Spain

Adding to the nervousness of the markets in Europe, the rating agency Moody's is considering lowering the rating of Spain. On the foreign exchange market, the euro was immediately dropped below the 1.43 dollar. Around 11:00, the European currency was worth 1.4276 dollars against 1.4324 dollars on Thursday night. Oil prices also retreated in the late morning. A barrel of Brent North Sea crude for September delivery was trading at 117.10 dollars on the Intercontinental Exchange (ICE) in London, down 26 cents from the close of Thursday.In electronic trading on the New York Mercantile Exchange, a barrel of "light sweet crude" (WTI) for the same maturity fell by 52 cents to 96.92 dollars.

The side of values

Starbucks (-1% to 39.58 dollars) unveiled for the third quarter of its fiscal year profit up 34% to 279 million and a turnover of 2.9 billion dollars, up 12% and 8 % same-store thanks to an increase in traffic (6%) and average ticket (2%). CEO Howard Schultz commented: "We hope to achieve our EPS growth of 15% to 20% in fiscal 2012. ".

For his part, Metlife (1.48% at 40 and 40 dollars) recorded operating income of $ 16.9 billion, up 33%.Premiums and other revenues increased to 11.8 38U billion, following the acquisition of Alico, while investment income jumped 24% to $ 5.1 billion.

Chesapeake Energy (3.77% to 34.69 dollars) realized in the third quarter earnings per share of 0.76 dollars against 0.75 dollars excluding special items.

Expedia (3.48% to $ 30) recorded an adjusted earnings per share of 0.55 dollars in the second quarter against 0.44 dollar a year earlier. Revenues jumped 23% to $ 1 billion. Gross bookings increased 19% and the number of transactions increased by 15% while advertising revenues rose 27%.

McKesson (0.60% to 80.08 dollars) made from earnings per share for the first quarter of 1.27 dollar against 1.16 dollar last year and a turnover of 30 billion dollars in 9% increase.The company raised its earnings per share target to 6.09 – 6.29 dollars against a previous estimate of 5.55 – 5.75 dollars.

Motorola Mobility (-5.06% to 21.75 dollars) has issued an earnings per share for the second quarter of 0.09 dollars against a loss of 0.3 dollar per share last year. Sales rose 28% to $ 3.3 billion.

Before the arrival of a new generation of video game consoles, the market declined sharply. This prediction is reflected in the figures. The French market was down 9% over the first five months of the year to 758 million euros, according to figures released Tuesday by research firm GfK distributors.

But on the whole of 2011, physical sales are expected to decline by 4% to 8% to 2.44 billion euros. The video game market is expected to be saved by the digital distribution of programs, for consoles, smartphones, Internet tablets and games for social networks. "The dematerialization of video games as an opportunity than a threat," says Pierre Cuilleret, the President of Micromania, in the bosom of the distributor Gamestop.In April, Gamestop said that $ 290 million were realized by the sale of games dematerialized, up 61% year on year credit score.

Improvement expected by year-end

For two and a half months, Micromania advises its customers to purchase in its stores codes for games on the Xbox Live network. This prevents users to leave their credit card details online. This reassures them after the theft of bank details of millions of users of Sony network.

The video games industry should see an upturn later this year, between October and November, with the launch of many games. In addition, the market should be supported by the arrival of the handheld console Sony PlayStation Vita around Christmas and a catalog provided more games for the Nintendo 3DS.Microsoft should continue to score points with its accessory Kinect.

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The wrong number of French industrial production in April cache of surprises. Certainly, the activity of the entire industry fell 0.3% over this period, while forecasters had expected a rise of 0.4% and economists agree to observe a slowdown of the dynamics the first quarter. But the details of the figures in April can put this performance-cons.

Besides the automotive industry continues to suffer with the end of the scrapping (-2.2% on the month), the energy seems to be the main cause of industrial slowdown in April. Electricity production (-5.6%) was significantly affected by unseasonable temperatures, households cut heating, explain heart economists at BNP Paribas and Societe Generale.Same explanation for the drop of 7.5% of the refining, weighed by lower consumption of heating oil.

The average temperature in April has exceeded its normal seasonal 1.7 degrees, placing the period from seven months to April the warmest since 1950. Beware, however: "The figures are very volatile energy from one month to another and this subset weighs relatively little in the overall index of industrial production," Camille Williencourt shade, Natixis.

Other areas seem to have benefited from a recovery in investment. Equipment and electrical machinery and electronics rose 1.3% in just one month, offsetting a fall in March. Transport equipment, non-automotive jumped 2.5%."These figures are in line with the recent study by INSEE on the investment outlook, anticipating a strong rebound in business spending on equipment", says Michael Martinez, of Société Générale CIB.

Still, he recalls Camille Williencourt that "the French industrial activity is expected to slow significantly in 2011 after rising 5.1% in 2010." It is difficult to predict how the magnitude of the slowdown, according to the economist, with one side a weakened consumer spending in France, but on the other, very dynamic export to Germany.

The health alert was launched Thursday by the European authorities. Three cucumbers from Spain, and perhaps also from the Netherlands, are the cause of the contamination of 276 persons to the enterohaemorrhagic E.coli (EHEC) in Germany. Two have died after contracting hemolytic uremic syndrome, which manifests itself especially by bloody diarrhea.

Across Europe, national health authorities are looking into whether contaminated cucumbers are on their soil. Result of this tracking, Friday morning, Denmark indicated that the lots were problematic in two wholesalers. These have been withdrawn from sale. The Danish health agency recommended that consumers not eat raw cucumbers from Spain or tomatoes and salad from northern Germany.

"In the midst of proceedings"

In France, the hunt is underway."To our knowledge, there is no contaminated lots in France," said a spokesman Interfel, the professional association for fruit and vegetables. Thanks to the labeling requirement, it is possible to reconstruct the path of the affected vegetables from producer to distributor, even when a lot was broken by a wholesaler. "We are proceeding rapidly," nuance does one side of the DGCCRF (Directorate General for Competition, Consumption and Fraud Control).

The tracing stops when the product was sold, investigators can not trace back to the consumer's fridge. Germany is a major consumer of cucurbits in Spain. She is also the first client, with 80,569 tonnes imported in the first three months of the year, according to figures from the inter Spanish fruit and vegetables.France has for its part consumed 13,294 tons of cucumbers in Spain over the same period.

Health authorities are uploaded to the producers of cucumbers, organic gardening regions of Almeria and Malaga. Investigations have been launched in Germany to determine if other cucurbits infected come from other regions. In Spain, "the Andalusian authorities are currently investigating to find out where the contamination and when it occurred," said a spokesman for the Spanish Food Safety Agency (EASA).

"We do not know where is the contamination occurred and the European Commission highlighted the fact that it occurred outside the country of origin" of cucumbers, said Friday the Spanish Minister of Agriculture Rosa Aguilar.So far there is no evidence and there is no evidence that this could happen in the country of origin. "

Washing vegetables

The Spaniards are wondering, according to a European source, if the cucumbers were not contaminated by falling on the ground at Hamburg. "Usually, vegetables are not high-risk products, but may be soiled or in contact with the ground during transport," says one to the DGCCRF. Wash and peel vegetables would reduce by almost 90% less chance of contamination.

The brilliant career as an economist Dominique Strauss-Kahn has just experienced a sudden stop. Arrested in the United States for alleged attempted rape, he tendered his resignation as CEO of the International Monetary Fund, he held since 2007. Throughout his career, "Mr. Economy" of the left has always shown great independence from dogmas and pre-established lines of thought.

One of the first major breaks with Dominique Strauss-Kahn "left classic" based on his involvement in the privatization programs of companies. While he has served as economy minister in the Jospin government from 1997 to 1999, he oversaw the opening of capital committed long ago. In 1997, the capital of France Telecom has been successfully opened in the middle of Internet bubble, a second bet on the stock exchange then took place in 1998.Similarly, Air France, Highway south of France, Eramet, Gan, the ICC or NOC experienced partial or total privatization between 1997 and 1999. DSK is estimated that some public enterprises were no longer intended to remain in state ownership, after sixteen years of public guardianship, since the wave of nationalization in 1982.But critics within his own party, accusing it of responsibility for "mass privatization".

Concerning the implementation of the 35 hours from the year 2000 following two laws passed in 1998 and 2000, the Minister has never hidden his opposition to the method used, even if DSK was himself originally economic program of the PS in 1997 which provided for the establishment of 35 hours of youth employment.

A socialist may go against the current

More recently, open debate on pension reform of 2010 and while DSK is already at the head of the IMF, he said there was no "dogma" on maintaining the statutory retirement age to retirement at age 60, an opposition Socialist Party's position. Another difference with his own camp: the Tobin tax. The politician has in fact been opposed to this idea, though supported by economists like Joseph Stiglitz and Lawrence Summers.

And the man who embodies the social democrats to the SP has also marked its difference in the IMF. Arriving at the head of an institution that raised questions about her future, and many critics, he managed to restructure the institution and give it a key role in the international arena, which has attracted praise from worldwide payday loans direct lenders. "The IMF has clearly become the most important international institution today," says economist Colin Bradford.

For international regulation of capitalism

In January 2008, when the crisis was still described as mild by governments, he called the major economies of the world to implement recovery plans, breaking the tradition of the post.In April 2011, he has even declared the death of the "Washington Consensus, the set of liberal doctrines which had until his arrival at the head of the institution guided measures. In fact, the theory of "structural adjustment" and the conduct of restructuring brutal and fast, Dominique Strauss-Kahn called for the "protection of the most vulnerable and the fight against inequality. Thus, under its authority, the IMF has supported the bailouts of countries in the euro area face serious problems of public deficit. The institution argued that he directed the implementation of reforms in Greece, Ireland and Portugal, but sometimes at the risk of being unpopular, particularly in Greece, where DSK may have committed some blunders.

The man, who graduated from HEC in 1971, Sciences Po and a BA in Public Law in 1972, is especially active in Europe.One of the founding fathers of the euro has indeed worked hard to save monetary union, threatened to collapse at the height of the crisis of public debts. He campaigned for solidarity between governments. In fact, convinced of the relevance of supranational governance bodies, DSK has worked for the establishment of a European budget authority that would organize solidarity between European states over the long term. But the departure of DSK to head the IMF could mark a setback to the realization of his dream to a deepening of the European Union and a supranational regulation of international capitalism.

The legacy of DSK, however, should leave an indelible mark. Several members of the institution, he claimed recently that his record is "impeccable", the IMF is now rejuvenated, powerful, and new fears.

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The sessions are followed and do not resemble the Asian stock markets. After all generally closed higher Wednesday, they slipped into the red on Thursday, hurt by the sharp drop on Wall Street last night. Like the U.S. stock markets, Asian financial markets are affected by falling oil prices. A trend that seems to reverse this Thursday in electronic trading in Asia, oil starting again significantly higher to 99.50 dollars (1.31%).

Japan: current accounts slashed by the earthquake

Anyway, this revival does not seem to reassure investors, oil prices have not passed the symbolic 100 dollars, according to some analysts. The Nikkei 225 closed sharply down from 1.50% to 9716.65 points. In the oil sector, Inpex shows a sharp decline of 3.42% to 564,000 yen.

After publishing yesterday's annual and quarterly results, and reassuring comments on its outlook for production, Toyota leapt 3.05% to 3370 yen and Nissan, which has published, after market, net income increased more than seven takes 1 , 40% to 795 yen.

On the macroeconomic front, the country saw its current account surplus dropped 34.3% in March year on year to 1.679 billion yen (14.6 billion euros), due to the earthquake of 11 March, which has disrupted production and exports.

The Taiwan Stock Exchange is resistant to red wave

In China, the Hang Seng in Hong Kong coward 0.83% to 23,098.80 points. Aluminum Corp. of China sells 2.42% to 6.86 Hong Kong dollars, CNOOC, 1.82% to 18.28 Hong Kong dollars and China Coal Energy, 2.95% to 9.86 Hong Kong dollars.As for the CSI 300 in Shanghai, it was down 0.17% at 3139.71 points.

Other financial centers in the Asian region, one resists Exchange: Taiwan, including Taiwan TAIEX gained 0.33% to 9050.50 points. Conversely, the KRX 100 Index dropped 1.48% from Seoul to 4558 points, the S & P / ASX 200 in Sydney fell sharply from 1.28% to 4718.80 points, the FTSE Straits Times sells 0.70 % to 3154.96 points and the BSE Sensex 30 Bombay lost 0.29% to 18,531.50 points.

From 1 August 2011, the parking fine will increase to 17 euros. This is stipulated in a government decree that will appear shortly.

Today, a motorist who does not pay parking fine pay a flat rate of only 11 euros. Either the same amount as in 1986 (75 francs). For years, local officials demanded an increase of the fine, arguing that it was no longer a deterrent cash advance. So they finally succeed.

Indeed, Baroin, the budget minister, had announced in February that the parking fine be raised from 11 to 17 euros. But the date of application was not known. This is now done. According to the costings of Bercy, the increase of the fine report 24 to 36 million euros per year to local authorities.