International Headlines and Stories

Safran, currently listed on the SBF 120, will make its debut on the CAC 40 on 19 September. The industrial and technology group, owned 30% by the state and 16% by its employees, replaces the bank Natixis in the most important indicator of the Paris Bourse. The announcement of the decision of the scientific evidence that fell Friday night to enter into force on September 16 at closing. The CAC 40 has not seen changes since September 2010, when Dexia (bank) and Lagardère (media) had been replaced by Natixis and Publicis (advertising).

The case for an entry Safran are numerous. The group was first sold 6.5 million treasury shares on the market late in July to increase its free float to more than 50%. Or the size of free float is one of the most important criteria observed by the Board for an introduction to the Cac 40.Capitalization criteria equally crucial $ 11.6 billion. Finally, the performance of the title are not negligible. The stock has gained more than 14% since August 26, while the SBF 120 index has returned just 5.6%. Since the beginning of the year, it grew by 5.4% when the SBF 120 index lost more than 12%. "There is a large consensus on this value. Safran is a great candidate, "pointed out shortly before the decision Emmanuel Besson, manager at Equity Management Ofi AM instant payday loan.

Suez Environnement does not leave the Cac 40

Suez Environnement was on the spot. The company, owned 35.8% by GDF-Suez and 7.2% by Groupe Bruxelles Lambert, certainly has a free float above 50% but its market capitalization of 5.88 billion, is among the lowest in the four Cac 40, with STMicroelectronics, Accor and Peugeot.In addition, the title was severely punished by investors: it shows a loss of 17.6% since the beginning of July, in line with the losses of the CAC (18% over the period).

But it Natixis, which has been designated to leave the Cac 40. It must be said that banking stocks have suffered heavily in recent weeks. The title is back in the index only a year ago and this decision "could create additional pressure on the banking at a time when we seek to appease," said Emmanuel Besson.

Before the verdict, Safran fell by 2.77% to 27.05 euros at the close, in a market down 3.59%. In turn, Natixis lost 4.57% to 2.71 euros.

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LE FIGARO .- Facing Pratt & Whitney is said very offensive commercially, CFM International, joint venture between Safran and GE, she due make concessions for boarding the B 737 NE?

John Paul Herteman. Of course, there was a negotiation. But ultimately, we do not change a winning team. Our relationship Boeing and customers is more than thirties. In 1983, we completed the first repowering of B 737 with CFM-56 engine for the company SouthWest. We were single engine. Our reactor brought gain Fuel Consumption 20% very strong improved reliability, factor 10 in terms rate breakdowns factor 2-3 on lifespan engine. It was a technological leap and quality.

In 1996, we completed the second repowering of B 737 with a more advanced version of the CFM-56, still single source.In total, we produced 15,000 engines to equip the B 737, the aircraft most commercialized in the world. Not surprisingly, Boeing wanted to play the card of the continuity of this success with our LEAP which also provides technological leap and quality.

What was cost Development this new engine?

He will represent the order of 1 billion euros for Safran and GE both for our partner for all three applications C919, A320 and B737 NEO NE.

Posed market B 737 BN for Safran?

Can be considered a potential 20,000 engines Leap for 3 applications over a period of 10 to 15 years.With after-sales, this represents a turnover approaching $ 100 billion over 30 years at CFM International, 50% for Safran payday loans.

This success puts the Leap into a market position as strong as the one we have today with the CFM-56 on medium haul, with nearly 60% of Airbus, Boeing 100%. Added to this is 100% of future Chinese developed by Comac C919. It's not that common to see an industrial renew a best-seller retaining all of its market positions over a period of 30 years.

The B 737 is more "short legs" than the A 320 NEO. Do you need to adapt the Leap specifically for Boeing?

Yes.The product will be suitable for the B 737 is actually smaller than the A 320 at the landing gear, as is the case with the current CFM, 50% of the parts are common, however, between Airbus and Boeing .

When will it certified?

Depending on the engine versions from mid-2015 and early 2016.

The Leap has over 1300 orders and the potential is enormous. Are you able to produce in a timely manner to accommodate your delivery commitments?

We anticipated investing to produce more. We still have tens of millions of euros to commit to follow the rate increases that will soon Airbus A 320 to 40 per month and those of Boeing. We will also need to build a new plant adapted to new technologies of composite blades.

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Tension mounts for the closure of the practicalities of the second bailout of Greece, whose general principles were agreed at the summit on July 21. Brussels wanted to have everything completed in late August. But three days before the deadline – informal – discussions are still underway, slowed by the problem of guarantees required by Finland, while in Athens, further fueling fears of fiscal slippage blur.

Finland does not swerve: before committing, it requires collateral equal to its participation in the assistance plan. A headache for officials in the euro area, who fear back into a turbulent period when investors are recovering to question the solidarity of 17. Friday again, negotiators from ministries of finance in the euro area have tried to find a way to break the deadlock."The main obstacle is political," sighs one in Brussels.

The case was the seed from July 21. Helsinki was signed on the condition that a clause be added to the text, to provide for the establishment of safeguards "where appropriate". The application of this provision could have significant impact if other countries like Austria, Slovenia and the Netherlands for example, demanded similar treatment. Last week, Moody's had warned against a possible delay of the plan of aid to Greece that could "precipitate the collapse of the country."

German Chancellor Angela Merkel herself denied any plan leading to preferential treatment of one country over others.Several tracks are given for the guarantees, which could be pledged in the form of real estate or shares in companies or public institutions.

Special Session

However, it becomes urgent to complete the text before the bailout vote by national parliaments guaranteed approval cash loans. Greece this week to begin a new round of discussions with the Troika (ECB, European Commission, IMF), for the release of the next tranche of aid this fall. However, the Greek finance minister, Evangelos Venizelos, spoke Friday a possible fiscal slippage as a result of austerity measures administered in the country with an expected contraction of GDP "above 4.5%" in 2011, instead of – 3.5% originally envisaged."This does not mean that we revise our goals," down, assured the minister, promising to lead as agreed including privatization expected to report 50 billion euros.

The questions also feed threats of Athens on the possible cancellation of its debt exchange, if too few bankers involved in the operation. It tempers the case in Brussels, in holding that Greece seeks above all to "speed things up a bit."

These latest developments in the debt crisis will be extensively discussed in Parliament today that the European Commissioner Olli Rehn, the head of the Eurogroup Jean-Claude Juncker and ECB President Jean-Claude Trichet, are expected for a special meeting of the Committee of Economic Affairs.This is probably an opportunity for parliamentarians to advocate the introduction of euro bonds and the extension of European fund rescue currently has 440 billion euros. Sunday, the president of the European Financial Stability Fund (EFSF), Klaus Regling, told Spiegel that the euro area is expected to overcome the debt crisis "within two or three years."

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A day back in the middle of August. Nicolas Sarkozy will be in Paris today for lunch with François Fillon, then to meet with German Chancellor Angela Merkel, herself back from vacation.

At a time when the euro area is attacked, France and Germany are trying to show a united front and show their determination to end the crisis. The mini-summit will be devoted to devising solutions to improve the governance of the euro area, which concern failures in financial markets. Although not conclusive a priori – "do not expect anything spectacular," said a spokesman yesterday the German government – the meeting should enable the two leaders to lay the groundwork for the future.

Sensitivity of the issue Eurobonds will however not address, contrary to the hopes markets.Berlin's opposition to the creation of common obligations to countries in the euro area has long been known. The Merkel government has good reason to be against: issued in the name of all countries, eurobonds have an interest rate equal to the average rate in effect in all countries. It would therefore be higher than that which currently takes Berlin. Until now, France is merely to show little enthusiasm for these Eurobonds.

Yesterday, Paris is out of the woods to show his unity with his partner. "The Euro-bonds are not an adequate response today. Common issue bonds requires a degree of economic integration and budgetary countries that we have not met, "says one as president fast cash. Paris joins Berlin on another "nyet" to increase the capacity of the European Financial Stability Fund (EFSF), now with 440 billion euros."The level of funding is appropriate," they say at the Elysee.

Hours before his meeting with Angela Merkel, Nicolas Sarkozy has discussed with Francois Fillon and French public finances. Lead to disappointing growth, the government has no choice: even a few months before the elections, it must take further austerity measures. France, which is followed closely by the markets, absolutely must bring its deficit to 4.6% of GDP in 2012.

Niche in their sights

To achieve this, taking into account a sluggish economy, the figure of 10 billion euros of savings is often cited. But do not confirm Bercy. In the entourage of Valérie Pécresse, the budget minister, it says only that "these savings are the result of efforts on spending cuts and tax loopholes."Last week, he had urged his counterparts from the euro area to take all necessary measures, including the creation of Euro-bonds, to avoid disintegration of the single currency "that would be an economic catastrophe, including for the United Kingdom ".

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Saint-Gobain can be serene in 2011. In publishing, for the first half of the year, net income has rebounded more than half, the direction of the construction group was able to confirm its objective of growth "sustained" and up "double-digit "of its operating income. Saint-Gobain has indeed revealed this Thursday evening in a statement, a profit of 768 million euros over the first six months of the year (53.3% over the same period of 2010), with higher volumes and selling prices. Operating income, however, has jumped 19% to 1.72 billion euros. Confirming "the gradual recovery activities related to residential construction in Europe", the turnover the first six months of the year earned 6.9% to 20.9 billion euros, while the result of operations rose 19% to 1.7 billion euros.At the end of June, net debt of Saint-Gobain was stable at 9.1 billion euros.

"The continued growth of our business in the first half confirmed the recovery in sales volumes seen in 2010, and our ability to successfully pursue our policy of priority to the sale price," said Pierre-Andre de Chalendar, CEO of Saint-Gobain, even though the group has faced higher costs of raw materials and energy.

Accelerate acquisitions

Saint-Gobain's acquisitions will accelerate in the second half to take advantage of the recovery volume.The group has already announced the first of the year several acquisitions, including the distribution with a proposed takeover of the network and Brossette Build Centre for a total of 351 million euros and a acquisition in Russia in the insulation and the plasterboard in Turkey, who number this time tens of millions of euros bad credit payday loans.

"There are a number of acquisitions that are in progress, so I can not give you the amount in the second half but it will be very Arguably higher the amount we had in the first half," assured Pierre-Andre Chalendar."We have a PORTFOLIO of files in negotiation is important, but we are very strict on the debt, therefore the amounts we are talking about a few hundred million."

The IPO Verallia not ruled out

Saint-Gobain has "always the intention of getting the stock market" Verallia, its subsidiary in bottles and glass jars and take "a decision based on market conditions," said the boss of the French group, while the development project on the Paris market was delayed.

On June 20, in fact, Saint-Gobain decided at the last minute to postpone the entry of the Paris Bourse Verallia due to market conditions deemed "very unfavorable."

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Sarkozy, the European. Since the height of Brégançon, where he sits, the head of state can be pleased to have scored twice. The first European success, first. In Brussels, on the evening of Thursday, he had a smile of satisfaction after a day and a half marathon diplomatic. "It is a beautiful agreement, and very energetic and pragmatic attitude of the president has probably played an important role," welcomes the centrist Bourlanges, which stresses that the European commitment has been "the dominant feature of Nicolas Sarkozy's five-year period, negotiation of the Lisbon Treaty in resolving the Georgian crisis, through the energy and climate plan ". But the personal victory of Nicolas Sarkozy is set to have a compromise with Angela Merkel on a second bailout of Greece, more global, more balanced – less punitive for the Greeks.The real victory lies in the Elysée in the last successful effort to lay the groundwork for coordination of economic policy of member countries of the euro area.

Early in his five-year, Nicolas Sarkozy had seen fit to go in person before the finance ministers of the Eurogroup. "The initiative seemed baroque, but now there is," pleads one of his advisers. It was not until this fall to read the Franco-German proposals on the subject. But according to Nicolas Sarkozy himself, Angela Merkel "agreed on the principle" it was notoriously hostile to this development. "The eighteen hours of intense negotiations took place after eighteen months of delays that have revealed serious shortcomings in European governance.The Franco-German initiative is urgent, "said soon MEP (UMP) Alain Lamassoure.

The other advantage to Nicolas Sarkozy, is on the domestic political scene. Firstly because he is convinced that the French are less sovereign than they say. "The polls are overwhelmingly in favor of the rescue of the euro," explains one of his advisers. It is also an illustration, hopes the Elysee, the role of "president protector" the Head of State intends to play, especially against the seizure of financial crises. Friday, Nicolas Sarkozy François Fillon has asked to hold a press conference to "sell" the agreement in Brussels.

On Monday, he personally inform the presidents of the National Assembly and Senate at a luncheon at the Elysee."We want to bring the iron against the PS on the subject of the fight against the deficit, which is at the heart of European economic policy coordination," said one minister. But take this speech under the budget will not be easy, including the right. "2012 will be the time of the arbitration between electoral interests – that is the right gifts to doctors, left, who waters the culture – and international interests that require a balanced budget set sail in 2013," sums up New Bourlanges. European and less controversial, Nicolas Sarkozy is definitely trying to target the votes of the center. It may discuss the matter with François Bayrou, he must see Monday as president.

LE FIGARO: – Earlier this week, you have participated in the meeting of the Eurogroup and Ecofin, the decisions taken are sufficient to stop the crisis?

Baroin: – The message that the Eurogroup has this week sent a strong message. The finance ministers of the euro area have confirmed their absolute commitment to safeguard financial stability in the area. The tools we have, I think of course to the European financial stability, will be of use will be more flexible and less costly for the recipient countries. We also reiterated our commitment to conclude as soon as possible a program that covers the financing needs of Greece for three years.

Greece, Portugal, Italy, France is currently immune to this crisis.Do you fear a contagion affecting our country?

Thanks to the reforms carried out and control of public finances that we pursue with determination, France, like Germany, has the confidence of investors on our sovereign debt deemed safest. France is indeed one of the seven countries in the euro area receiving the highest rating. This lowers the cost at which borrows France. Of course, we can not satisfy disruption affecting the markets for several days.

What are the flexibilities of the presidential candidates subject to the supervision of rating agencies?

There is no doubt that some projects are completely out of time exceeded. To that of PS, I will be tempted to say, it is worn, tired, to paraphrase one of their former candidate.It is unrealistic, if not more, in 2012, to propose the creation of hundreds of thousands of public employment. It is irresponsible with regard to the preservation of our growth to provide a fiscal impact of an increase of 50 billion euros in taxes.

Bertrand Delanoe suggested a special tax on high incomes to reduce debt the state …

We are totally opposed to the creation of an upper marginal tax on income. As part of the tax reform that I reach we have ruled out this hypothesis. A working group will be in the coming days to establish, in the draft 2012 budget law, a contribution on income from extraordinary or extravagant as stated by the Prime Minister. It's a big difference with a windfall tax on the income desired by the Socialists.This is not the same political project.

The Finance Act provides 3 billion saving on tax loopholes. This will be enough?

Again, our goals are intangible and deficit are the backbone of the construction budget. It is very likely that we will go through the Finance Act 2012, beyond the three billion reduction in planned niches. At what level should we stop. There is still a bit early to say but that is where we are heading.

Martine Aubry accusing the Elysee Palace to spread rumors about his private life …

As a candidate in the presidential election went a bit unnoticed, to give relief to its trajectory, it targets the Elysée and the UMP.It's a bit ridiculous.

It is a sign of weakness?

If you add up the silence that followed the important announcement of his candidacy, that sense of unseen, the socialist project, and now this news on rumors, I do not think it is up to the challenges that France will through next year.

How to convince Borloo not be a candidate in 2012?

It's very difficult to explain that we are stronger by being divided only by being united! It is very difficult to explain that participated in the affairs of the country for so long and be an alternative project.Therefore I think it will be very difficult to find a chamber at the presidential majority as the election period will need to gather all the forces present in the majority in the service of Nicolas Sarkozy.

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The France Televisions group announced the acquisition of the rights of future Olympic Games. The amount of these contracts is estimated at between 40 and 50 million per event. Added to the cost of production estimated at ten million euros for each Olympic Games.

LE FIGARO. – You will be broadcasters of the Games until 2020. What is the nature of this contract?

Remy PFLIMLIN. – We confortons our rights to the Olympics because we buy in total exclusivity until 2020, both for those Winter Games and Summer. In addition, we ensured that these rights were all media and therefore usable regardless of the distribution methods and terminals. We proclaim Wednesday as we know what city will host the 2018 Winter Olympics.It is also a way to show our solidarity with the application of Annecy.

How much have you paid to secure those rights for eight years?

These amounts are very similar to what we paid previously. In other words, there was no bidding. Furthermore, it is important to remember that in a market increasingly competitive, it is essential to securing sports rights for the long term. Unlike the time when the rights were sold territory by territory only to local operators, we are faced with an internationalization of competition, as evidenced by the arrival in France of great actors like al-Jazeera. Nothing would prevent them from acquiring the rights to resell on their own terms. Ditto for Internet players.It is important to "store" the events that constitute the cornerstone of our programming.

Was it necessary to acquire these rights in all media exclusively?

The London Olympics of 2012, we will publish an exclusive program with the exception of pan-European Eurosport will be a good test. We may be measured including the economic impact of such diffusion. This also reflects the need, in a broader landscape, to differentiate ourselves from other channels. Sport, as evidenced by the purchase of rights "minor" by small TNT channels, allows the aggregation of audiences. Finally, the fact of having these events on digital is the best way to preserve the future personal loans for people with bad credit. Beyond that we will schedule on the air, we can have up to 12 simultaneous streams live on our digital offerings.This will allow us to expand our audience but also to return, why not the youngest to the TV screen.

What is the advantage to bet on these events?

The Olympics are both a major event and part of our DNA. It is the mission of public service to provide free access to numerous sports that are not prevalent, but large. We aim to bring to life the events giving them an attraction that no one else is that we may be able to provide. We did it last year with the European Championships in athletics and swimming, we redo this year's World Championships in both disciplines. Our goal is not limited to the retransmission of events, it is also to make people want to practice a discipline. This is true of sport as culture.This is a key element of our relationship of trust must maintain channels with viewers as well as information.

In this regard, you inspire the return of the hostages on a background of controversy over the excessive risks they have taken?

First of all, I think the joy inspired by their return premium on everything! This is a major event in this house who lived in the constant concern for the fate of Taponnier and Stéphane Hervé Ghesquière. It is our public service mission to be present on all important events and reporting. Unfortunately this is not the first time that France Televisions is faced with the kidnapping of journalists. Remember the hostages in Lebanon and those of Jollo. I realize that this job involves risks that must be evaluated. Especially since, if it becomes impossible to report the news, there is no point in taking them.We will do everything to make this not happen again, but we will keep this role of ours: being a publisher of reference, be a kind of watch the world around us by being present on all distribution media.

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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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It is a small operation, but that announcement probably others. By unveiling this morning the acquisition of Chinese Praxis Technology, a small computer services company and consultancy, Capgemini wants to kick off an acceleration of development in emerging countries. For this operation, the SSII makes its first acquisition in the Chinese market, and strengthens the services sector to "utilities" (energy, industry, etc..). Praxis Technology conducted in 2010 about 5 million in sales and employs 110 employees, Capgemini said in a statement, without revealing the amount of the transaction.

The emerging strategic priority

Capgemini has already begun to enter the Chinese market. Still a marginal presence, this area focus less than 5% of its overall activity."Capgemini's ambition to expand in China, the second largest economy, and this organically and through acquisitions," says management. The company hopes to benefit from the strong annual growth of the Chinese IT market (14.1% between 2009 and 2014) business card design. "Given the sustained and rapid economic growth is a priority market," said Gilles Taldu Moreover, new business manager at Capgemini. The acquisition will be financed by net cash and is expected to close soon.

In addition to this acquisition, Capgemini's global strategy looks to emerging markets. In September 2010, the IT services company had already announced the acquisition of CPM Braxis, the leading Brazilian IT services. This speech proactive, and the announcement of the acquisition of Praxis Technology have attracted investors.Especially across the Atlantic, Accenture, Capgemini U.S. competitor announced tonight quarterly results better than expected and raised its profit forecast for 2011. What a glimpse of a more favorable market environment expected. At the Paris Bourse, the title of Capgemini jumped 4.24% to 10.30, the highest increase in the CAC 40 in a market up 1.70%

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