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Tax audits conducted in 2009 by agents of IRS reported 14.7 billion euros in state on Monday said the financial daily Les Echos, citing the report of activities of the Directorate General of Public Finance (DGFIP) .

The figure is down from the previous two years. In 2008, the checks had been recovered 15.2 billion euros. In 2007, some 16.4 billion euros had been collected by the State.

Of these 14.7 billion, some 3.5 billion are directly related to the fight against tax fraud and penalize "failure characterized," says the DGFIP. In addition, the amount quoted in the report does not include money collected by the unit set up by Bercy to allow taxpayers with undeclared assets abroad to regularize their situation.The 3500 tax evaders repented reported at 31 December 2009 – a total assets of around EUR 6 billion – and would in turn reported 700 million euros in taxes.

Nearly 48,000 companies controlled

In detail, the tax recovered last year nearly 4.8 billion euros through desk audits, carried out from offices, against 5.6 billion in 2008 and $ 5.9 billion in 2007.

Conversely, the product of the 51,000 "spot checks" made directly to individuals (3912) and especially for businesses (almost 48,000), is up: they have helped to recover 7.6 billion EUR rights, plus penalties of 2.3 billion.Moreover, these cases have resulted in 939 complaints of tax evasion, said the DGFIP.

32 million from traffickers

The President of the Republic, Nicolas Sarkozy, had announced that he wanted "to strike at traffickers portfolio. Two hundred control operations were carried out in sensitive areas and led to recalls and fines of 32 million euros.

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These loans provide fast cash assistance, which enables you to deal with unexpected fiscal requirements without any delays.

While the debate between plans and rigor stimulus facilitated the markets in recent weeks, the attention of analysts and investors will again be focused on the financial performance of companies from Monday. Indeed, the U.S. giant Alcoa aluminum ball will open the second quarter of publications in the U.S., after market.

If analysts have recently lowered their forecasts for the group in front of the lower aluminum prices, Alcoa will announce earnings for the second quarter, against a loss last year. The title Alcoa ended Friday at 10.94 dollars, up 2.05%. The volley of U.S. results will continue this week with the technology companies Google, Advanced Micro Devices or Intel, and banks JPMorgan and Bank of America. Citigroup and General Electric will unveil their findings Friday.

Renewed investor confidence

Pending these publications, it is time for optimism in the U.S.. The Dow Jones closed up about 0.57% Friday at 10,197.19 points while the Nasdaq advanced 0.97% to 2196.45 points. Among the good news that restored investor confidence late last week, the International Monetary Fund (IMF) raised its forecast for global growth for 2010 at 4.6% against 4.2% estimated in April.

Analysts polled by Reuters predict the results of the groups listed on the S & P 500 will emerge up 27% for the second quarter, more than the 22% increase posted during the first three months of the year. "We are seeing one of the occasions of the highest profits in history," said David S.Bianco, chief strategist for the United States at Bank of America Merrill Lynch, interviewed by The New York Times. According to him, he must go back to the Great Depression of the 30s to see such a rebound.

Markets should also respond well to the results to be published in Europe, where the decline of the euro against the dollar is favorable to businesses. "Like the U.S., figures released by the European companies will be rather positive," said Vincent Treulet, head of investment strategy at BNP Paribas AM. "The second quarter was dynamic on both sides of the Atlantic, compared to the second quarter of 2009." Figures released this week will quantify this improved profitability. And reassure the markets, accordingly.

The speeches of leaders scrutinized

In this context, however, uncertainty haunts the minds of economists. The expected rebound in profits he heralding an improvement on the employment front, at a time when companies continue to cut costs to improve their productivity? "We can expect that the outlook announced by the companies are more optimistic that the sentiments expressed by employees and households," said David S. Bianco.

Beyond the quantitative assessments of companies, are the speeches of leaders who will focus the attention of investors and dictate the trend on stock markets. And this, in the U.S. and Europe. Some experts expect however that these comments remain rather vague. Companies may place more emphasis on the lack of visibility."It could indeed disappoint the markets in the medium to long term," according to Vincent Treulet.

Analysts too optimistic?

Especially as the expert anticipates a slowdown in growth for the second half of 2010. In addition, many operators believe that analysts, encouraged by the good figures for the first quarter of 2010, advance estimates too high for 2011. "The consensus view that corporate profits would exceed the peak reached in 2007, which seems overly optimistic," says the strategist at BNP Paribas AM.

Businesses now report what scenario they anticipate. In France, the dance of publications of the second quarter and first half will open July 22, with STMicroelectronics. Some companies, however, reveal their sales figures this week, including L'Oreal on Monday after the close of trading Thursday and Carrefour.

This is the most reassuring news announced by the U.S. authorities for more than two months. According to Coast Guard Admiral Thad Allen American to oversee cleanup operations in the Gulf of Mexico, BP should be able to contain 100% the gap in the well from which oil flows to by Monday. A new funnel, bigger than previous ones, is currently installed by the British oil.

This funnel, called "Top Hat Number 10", should recover up to 80,000 barrels of oil per day (12.7 million liters), against 25,000 now. The authorities are optimistic that based on their assessments, the well lost more than 60,000 barrels per day. The previous dome will be first removed. A large quantity of oil escape so well for 48 hours.But once the new funnel posed, the results will be immediate, promises Thad Allen.

Since April 20, the day of the explosion of the Deepwater Horizon platform off the coast of Louisiana, BP has increased its attempts to clogging, all unsuccessful.

No stop before August

BP was more cautious in its forecasts. Bob Dudley, responsible for managing the disaster, spoke of another scenario where difficulties in installing the new funnel could delay the time from Monday to Thursday.

But authorities are confident: "We have the climate we need," said Thad Allen. The admiral, however, required to calm the enthusiasm that followed the announcement. "I used the word 'contain' and not 'stop'," he commented. According to him, the well would not be closed as well as two-pass will not be completed.These wells, dug deep to inject cement and mud, should not be installed until mid-August. Once the leak stopped, the extensive cleaning and restoration of the ratings will continue.

Anadarko does not pay

On this last point, BP was again struck Friday denied Anadarko Petroleum. The company, which owns 25% of wells responsible for the spill, said she would not pay the $ 272 million that BP is asking her to cover their share of cleanup costs, according to U.S. law known pollution.

On June 18, the tension was raised a notch between the two partners lorsqu'Anadarko stated that the explosion of April 20 on the platform Deepwater Horizon, "was preventable and was a direct result of decisions and actions BP unthinking.

In another e-mail sent Friday, a spokesman for Anadarko, John Christiansen, however, felt that his group remained "committed to working in good faith with BP to reach a satisfactory resolution."

BP is now awaiting the response of Mitsui, which owns 10% of the wells. The British oil giant is claiming $ 112 million for cleanup costs. The company has not yet made its position.

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In 2008, Apple became the first distributor of music in the United States, before the giant Wal-Mart and Amazon. The group of Cupertino is preparing to renew the feat in the film industry. According to research firm Screen Digest, Apple became the number one video on demand pay to the United States in 2014, before the two top cable operators in the country, Comcast and Time Warner Cable.

This will be overtaken by Apple at the end of this year. Apple is expected to generate $ 281 million in sales by selling movies online this year against 160 million in revenue for the VOD service from Time Warner Cable. The firm is expected to apple store almost 35 million transactions in 2010 against 30.5 million for the second U.S. cable operator. Still Number One, Comcast will make a turnover of 380 million dollars with 88 million transactions."While the pay-TV players offer to lease the works in DOS, Apple sells movies. The pricing is more beneficial to Apple, "said Dan Cryan, responsible Broadband Media at Screen Digest.

In 2014, the reverse hierarchy: Apple should be leading with 470 million dollars in revenue for 56 million transactions, when Comcast will reach 400 million dollars in sales with 108 million records of tenancy, says Screen Digest. At that time, Apple will control 32% of video market demand pay.

Google TV has a playing card

This leadership position gives Apple the opportunity to influence the price of selling movies for download, as the U.S. group has done in music.Another advantage is the unit sales reported more income to the beneficiaries that the subscription models or lease and therefore the iTunes Store a valuable partner for the studios, which multiply the simultaneous releases in theaters and on video.

If the model for the iTunes Store gives a good lead time to Apple in VOD, it is not certain that the firm with apple foreclosing the movie as it did for digital music. "There was an effect on iPod music because of the integration platform for downloading with the terminal was better, because the iPod allowed to make music where consumers want to have it ie mobility. It is not certain that the iPad plays that role for the film, Dan Cryan analysis. Terminals other than the PC are key to getting consumers to pay for entertainment.But for video, this advantage is less pronounced for the iPad for a TV. This is Google, with its Google TV decoder, which brings Web video into television, has a playing card. "Indeed, the Internet group has not discussed a possible blocking of illegal content which could online access through Google TV. This vagueness could benefit from piracy: "iTunes is selling on average 30 songs per iPod sold, the rest of the music is not purchased it is copied from CD or downloaded illegally. There could have the same effect on Google TV. The party has just begun in the video, "said Dan Cryan.

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In the battle over economic strategy, which raged in the country G8/G20 meeting in Toronto, Nicolas Sarkozy ranks clearly on the side of Barack Obama's hostile plans rigor precipitates. "For France, fiscal consolidation is a long-term need [...] the stimulus must be from 2011, progressively, according to individual circumstances," said one EU source.

Favorable cures severe austerity in Greece, Portugal and Spain, Nicolas Sarkozy calls for budget adjustments "progressive" in France and Germany, from 2011, with "not too many taxes."

The fragile economic and financial worries Europe G8 and G20. "Our partners Americans and Canadians fear the impact of austerity plans on resuming" said one EU source.The health of banks on the Old Continent is also a major concern in the United States. "There's nothing to fear from that quarter. Our banks are very strong. The results of stress test in late July is going to cheer the markets, "say the Europeans.

Faced with the Americans, Germans and Britons facing the G8 steadfast defenders of rigor. "A sustainable growth can not result from a fiscal policy based on the debt!" Repeats Angela Merkel. "Our public finances are in such a state, we have no other choice than a hard adjustment," he defends David Cameron.

Within this debate, Nicolas Sarkozy wants to distinguish itself from its European partners. Recognizing the need to reduce fiscal deficits in France, he will not rush, giving priority to pension reform.If markets were not so vigilant, he would gladly own the warning of Barack Obama: "do not overdo it in 2010 … or 2011.

European markets reorient downward on Thursday after two sessions of net withdrawal, which followed up to nine sessions in a row.

ACC 40, which closed late Wednesday a decline of 1.71%, to 3641 points, however, had started sitting up. He quickly plunged and yields 0.96% mid-term point to 3606.9.

The euro shows a decline of 0.28% at the same time and now rated as 1.23, to 1.2277 exactly. The European currency declines amid persistent fears about the state of the economy of the Old Continent.

In an interview with Italian newspaper La Repubblica, Jean-Claude Trichet, ECB president, said it was unlikely that deflation risks materialize in the euro area.

Employment on the radar screen

Supported by purchases of televisions before the World Cup soccer, the French household consumption of manufactured goods rose 0.7% in May after a drop the previous month, Insee said Thursday. Better than expected.

Job center will provide 18 hours tonight the numbers of jobseekers registered.

In the Eurozone industrial orders in April showed the strongest gain in 10 years: +0.9% over March and 22.1% compared to April 2009. This last figure is the highest since May 2000, according to statistics released Thursday by Eurostat.

In the U.S., at 14.30, the figures on durable goods orders in May are highly regarded, as usual. As the traditional weekly claims for unemployment benefits (same time).

Areva accrues $ 400 million more

The Group accrues 400 million euros more because of the further delay of the EPR. These delays have already cost the group 2.3 billion euros nuclear. And this new supply will cause the accounts into the red in the first half.

Vinci: -0.59% to 37.26 euros The company has signed an agreement for a proposed road tunnel in Vietnam, worth an estimated $ 600 million.

Publicis: -0.34% to 34.74 euros Interpublic does not need to merge with Publicis, according to its CEO, Michael Roth.The fourth group in terms of global advertising revenues has been speculation about a possible merger with French group.

L'Oreal: -1.81% to 81.82 euros, L'Oréal held yesterday, a presentation on New Markets, on their growth potential, based on affordable innovations, development of new product categories and the acceleration of globalization. Natixis Securities appreciated and raised price target on the value of 92-97 euros.

Societe Generale: -2.93% to 35.74 euros, the bank claimed Kerviel to 4.9 billion. This sum is claimed as damages, the commitments of the former alleged fraudulent trader.

Banking sector is doing well this Thursday after being bottom of the list of the CAC 40 over the past two sessions.The President of the European Central Bank, Jean-Claude Trichet said in an interview published Thursday that the reform of financial regulation are on track and that a number of important decisions will be taken in November, during G20.

Axa: + 0.07% to 13.55 Resolution eurosL'assureur UK announced Thursday the acquisition of its French rival Axa Life insurance, savings and pensions in the United Kingdom for up to 2.75 billion pounds (3.3 billion euros).

Vivendi: + 0.06% to 17.45 euros without, however, that the word "relax" is heard, the prosecution had asked for any penalty against former executives of Vivendi Universal. From the first day of the hearing, Jean-Marie Messier, former chief executive, expressed a mea culpa about its "excessive communication."

Casino: + 0.33% to 63.75 euros latest episode in the war of Nespresso.Nestle has obtained the high court in Paris to send bailiffs in Folliet and Vegeplast, the two suppliers to the manufacturer Casino pods compatible with Nespresso machines.

Air France-KLM: -2.73% to 10.87 euros 4,390 people have left the company without being licensed, by March 2013, according to an internal document quoted by La Tribune, on its website.

Company Alps: -4.28% to 23.02 euros Compagnie des Alpes announced Thursday the launch of a capital increase of around 100 million euros, with retention of preferential subscription.

The leisure group has also announced a refinancing of its debt in advance through long-term, secure the liquidity of the group for five years.He said in a position to make acquisitions.

TF1: -2.24% to 11.54 eurosL'élimination the first round of the France squad will deprive TF1 more than ten million euros in revenue. But the title TF1 has underperformed by 3.6% of all broadcasters in Europe since the beginning of the World Cup. This correction related to the elimination of the France team is disproportionate to the financial magnitudes of the event, said an analyst.

Oil drop

Crude prices have continued to drop Thursday (76.2 dollars) in electronic trading in Asia, driven by anxiety about U.S. demand, world's largest consumer.

The latest indicators of the U.S. Department of Energy showing an increase of two million barrels in crude stocks in the week concluded on June 18 have caused concern to investors, which projected a decline of one million barrels.The increase in crude inventories reported in effect a weakening demand.

Finally good news for Airbus and its flagship plane, the A380. The last contract was conducted in January 2009 when Air Austral has ordered two A380 single-class (840 seats eco). Since then … nothing. The contract signed by Emirates giant comes as the program switches from a phase marked by a painful industrial ramp-up phase of maturity and control of industrial processes.

This, ten years after the decision of both industrial policy by France and Germany to launch the A380 as part of the creation of EADS, parent company of Airbus. And two and a half years after the first delivery of the superjumbo to Singapore Airlines, the launch company.In recent weeks, "there's better on the forehead in the euro-dollar, even though its effect will be read in the accounts in the medium term, there is better on a better control programs, production rates will increase (for the A320 and A380, Ed), thereby supporting the generation of cash. The giant command adds a bit more "positive" about the title, "Yan Derocles development, aerospace analyst with Oddo who recently moved to purchase the title.

Price increase expected

Airbus, which had produced and delivered ten A380 aircraft in 2009 (and thirty since October 2007) will double the pace this year. "We have good visibility and for the first time in the first quarter, the program has been consistent with expected costs," said Louis yesterday Welsh, president of EADS.Costs too high, since this year, Boeing will lose money on each aircraft produced no fax pay day loans. But Thomas Enders, the Airbus chief, said that "from 2012, we should begin to win," so that the A380 will contribute fully to the operating result (ebit) of Airbus from 2014 . This, taking as a basis for calculating a euro-dollar parity of 1.30. The evolution of the two currencies in the medium term will be crucial.

In terms of business strategy, Airbus is also a turning point. It should trigger a second wave of orders in conquering new customers.The contract giant Emirates is great, but it comes from a company already convinced by the A380 and Airbus has always maintained in good and bad times.

This contract allows, however, John Leahy, marketing director, put pressure on companies that are slow to make the leap. The delivery of the A380 are now virtually come to an end until 2017. If a company wants the A380, it would have incentives not to expect too much as far as prices go up. But, argues Airbus A380 will be a must. The device has proven its economic and ecological efficiency, as evidenced by the feedback of its first customers. Airbus forecasts a market of 1,500 aircraft by 2030 for very large aircraft. Without rival, the A380 should prevail on this market and be a cash machine on the exceptional duration of the program, or forty years.

Surprising as it may seem, the regions now pay the consequences of the reform of the pension system by SNCF, negotiated in 2007 by the government. In exchange for extending their period of contribution, the railroad has received various forms of compensation (new longevity step, time-saving account …) which, in total, cost 80 million per year from their business is up and running.

But part of that premium is now invoiced regions. These are in charge of regional express trains (TER). An activity inherently deficient, the ticket price only covers about one quarter of the charges. The regions "pay" for it so the station continues to operate these small lines. Specifically, the sign with the company elected public multi-year agreements, often over ten years, which regulate these funding issues.And it is anticipated that if, in the meantime, a law or a decree adopted at national level have an impact euro hard cash at the convention, the SNCF and the region shall, by agreement, review the financial conditions . The reform of the pension plan of the station into this framework.

In some regions, such as the Languedoc-Roussillon, the case has not yet been opened. But in others, the overhead of pensions has been included in escalation clauses when signing new contracts. Elected officials, who did not always detected these clauses are now discovering the pot to the roses. "In 2010, the bill for pensions for railroad workers is 3.3 million euros for Aquitaine," said Alain Rousset, President of PS and its Chairman of the Association of Regions of France (ARF). The magnitude is the same for Burgundy."The surcharge, which was 1 million in 2008 and 1.5 million in 2009, will reach 2 million in 2010 and 5 million per year thereafter," says Francois Patriat, Chairman PS Regional Council. The ARF has not yet calculated the total amount of the overcharge for the 22 regions. But there should be several tens of millions of euros.

Action against the State

In absolute terms, the regions where expenses exceed 26 billion could absorb this unexpected bill. Example of Burgundy, the region has an annual budget of 770 million and 200 million per year dedicated to B (50 million for the purchase of trains and 150 million of benefits). But the political context changes everything. The strained relations between local officials and the government. Nicolas Sarkozy has announced a freeze on grants paid by the state to local governments.

And since the reform of business tax, regional councils receive only the taxes they can not adjust the rate. The fact that the state refuses to compensate for the additional areas of pensions of railroad goes very badly. "This pension reform was imposed on us by the government. This would be the State to bear the consequences, "said Francois Patriat. Elected representatives decided to file an appeal before the tribunal to condemn the State. Franche-Comte has done the same. And considering the Aquitaine. "I have enough for the state to discard" protests Alain Rousset.

The success achieved by their counterparts in other departmental areas, protection of children, encourages regional representatives: general advice PS Saone-et-Loire and Seine-Saint-Denis have got the Council of State that the state is condemned for lack of funding.

It is also true that elected officials do not feel size now to renegotiate the terms with the offending station. "We are at an end of major negotiations between the government and the SNCF. The balance of power is not in our favor, "says Alain Rousset.

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Almost 9% increase! Half an hour after the opening of the Paris Stock Exchange on Thursday, Valeo posted the strongest increase in the SRD: 8.77% to 23.81 euros in a market up 2.2%. The carmaker brings with it its main competitor Faurecia climbed 6.53% to 13.13 euros.

This remarkable evolution follows the statement released Wednesday by Valeo, in which the group calls itself "confident" in achieving its goal of doubling its operating margin compared to 2009, notified on 24 February. The group is therefore an operating margin of almost 4% of its turnover in 2009 against 1.8% and 2.7% in 2008.Just in the first half, Valeo anticipates an operating margin approaching 6%, the highest rate on a semester during the last eight years.

Nomura to buy rest

The supplier table, moreover, still for the first half of 2010, on a turnover of around 4.7 billion euros, an increase of about 35% compared to the first half of 2009. Consensus Thomson Reuters, meanwhile, put on a turnover of 8.2 billion euros for the group in 2010 with an operating profit of 301 million, which would result in a margin of 3.67%.

This perspective reinforces the analysts at Nomura, in their recommendation to purchase the title. They said the current valuation of Valeo offers significant upside potential and thus provides a good buying opportunity. Nomura sets the price target to 35 euros.

In a market somewhat reassured by the prospect of quick release of aid to Greece, investors remained cautious almost the whole length of the session.

Then again, once the bamboo. Shortly before 16 hours, the index unscrewed and recasse 3,800 points, 3787 points exactly (-1.4%). In London, the Footsie – 100 lost 0.91% to 5566 points. In Frankfurt, the Dax fell into the red, and more timidly back 0.11% to 6138 points.

Moody's said the drop in grade nine Greek banks regarding their financial and credit solodit?. And Standard & Poor's lowered its rating on Goldman Sachs.The U.S. Justice had opened a criminal investigation against the American investment bank, say several U.S. media including the Wall Street Journal and Washington Post.

On Thursday, the Paris Bourse was rebounded, following strong quarterly results and hope for a speedy realization of the plan of aid to Greece.

News macroeconomic rich

The producer prices rose 0.6% in March in France after rising 0.1% in February, according to Insee. On a year they show an increase of 2.0%.

In the euro area, inflation has accelerated a bit in April, 1.5% over one year after 1.4% in March, according to Eurostat. The unemployment rate remained stable at 10% in March.Note that France has seen the number of jobseekers in category A decline of 0.2% in March.

In the U.S., the publication of the first estimate of U.S. GDP for the first quarter of 2010 will most watched by investors. The figure will be unveiled at 14:30.

Total, biggest drop in the CAC 40

On Friday, Total reported net income up 9% to 2.3 billion euros. The actions of the oil lost 2.55% to 40.8 euros, the biggest drop in the CAC 40, as investors disappointed by Total's production in relation to its competitors.

In the other direction, Michelin, the second largest increase in the index, rose 2.58% to 54.84 euros. The group unveiled Thursday evening tire sales in line with analysts' expectations. The outlook and actions are "a very good entry point" in stock.

S?chilienne-Sidec (4.76% to 24.2 euros) on Thursday posted a turnover increase of 20.6% in the first quarter of 2010 to 66,200,000 euros, after one year of 2009 by disabled 'significant downtime and lower coal prices.

After Exchange, Latecoere publish its annual results.

Around 15 hours, will begin the General Assembly of shareholders of Renault, where the boss, Carlos Ghosn, should be reappointed to head the automaker.

Vinci downturn

Vinci (-0.83% to 41.75 euros) Thursday announced the signing of a Memorandum of exclusivity with Apax Partners to buy investment fund Faceo company specializing in technical maintenance services.

ADP (+0.14% to 62.5 euros): The Union of French airports (UAF) said on Thursday that the volcano Eyjafj?ll Iceland, which has caused paralysis in air traffic from 15 April has lost to French airports with 30 million euros 16-18000000 for A?roports de Paris.

Rhodia (+0.17% to 17.8 euros) announced Thursday night that successfully placed a bond loan of EUR 500 million maturing in 2018 intended to refinance its senior debt.