Despite the marked decrease in profits, the group has revised its targets upwards for the whole year. It now expects over 44 billion ors billings. The group also announced a production rate of the A320 increased to 40 per month.

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On the currency markets, the euro retreated against the dollar, traders were playing the card of caution before the release Friday of the results of resistance testing of the 91 largest European banks. In the morning, the euro was at 1.2867 dollars against 1.2881 dollars the previous day.

Asian stock markets closed on Wednesday in a disorganized, Tokyo lost 0.45% to 9258 points, while Shanghai was slightly higher than 0.06%, within minutes of closing.

Accor, Arcelor-Mittal and banking head CAC 40

On the macroeconomic front, the appointment of the day is undoubtedly the meeting between Christine Lagarde, Minister of Economy and its German counterpart, Wolfgang Schäuble, at 12:45 pm.The two ministers would discuss the release of such stress tests, for which Christine Lagarde said he was "totally confident". These relate to BNP Paribas (3.10% to 48.42 euros), Societe Generale (2.35% to 36.64 euros), Credit Agricole (2.64% to 9.07 euros) and Dexia ( 3.69% to 3.23 euros).

Other values to follow, EADS (2.02% to 16.40 euros), at which place the salon Fairnborough (south London) until July 25.Airbus will easily exceed its target of orders in 2010 and could set up 400 orders against 300 originally planned, said Tuesday John Leahy, marketing director of manufacturer, Reuters Insider.

The European Union has also announced Wednesday it would appeal the conviction of the World Trade Organization (WTO) on subsidies provided to Airbus.

The airlines, including Air France-KLM (1.43% to 10.06 euros) will also follow, while five air traffic controllers' unions have called a strike for Wednesday.

World production of crude steel increased by almost 28% over the first six months of the year, but the pace of growth continued to slow in June: +18% over June 2009. Analysts believe the slowdown will become even more acute in the months to come.Investors follow the impact that this announcement will have on companies such as ArcelorMittal (2.64% to 23.92 euros).

APRR (-0.02% at 53.91 euros) indicated that vehicle traffic had benefited in the second quarter of disturbances air and rail, as well as improved economic conditions. The group has published a quarterly revenue, excluding construction rose 5.8% to 491.5 million euros, with vehicle traffic rose 4.5% in the second quarter, in kilometers traveled.

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The ball of results announcements or turnover continues: after-hours trade, Unibail-Rodamco will present its second quarter results.NRJ Group, Mersen (ex Carbone Lorraine), Cegid Sperian unveil them their turnover in the second quarter.

Accor (5.13% to 24.38 euros) has announced a growth of 5.1% of its turnover in the hotel industry in the first half on a comparable basis.The group earned a higher "backed" by its occupancy rate in the upper and mid-range and higher average prices in France, Germany and the United Kingdom.

The manager of nursing homes and clinics, Orpea (0.91% to 31.50 euros) achieved a turnover of 470 million euros, representing organic growth of 9.3% and confirmed its objectives Annual 2012.

Manitou (5.31% to 12.30 euros), a manufacturer and distributor of material handling, reported Tuesday a sharp rise in quarterly sales, but said the second half anticipate a slowdown in orders and possible impact of delivery on its turnover.

Hi-Media (-24.9% to 3.35 euros), publisher of consumer websites, has warned that its net profit in 2010 would be affected by restructuring.The group now expects an operating profit comparable to that of 2009 (16.5 million euros).

Vetoquinol (+2.4% at 26.04 euros), the veterinary pharmaceutical company, has published a turnover of 138 million euros, up 15% in the first half. The group expects to raise over 200 million euros to pursue its external growth.

Sword Group (4.54% to 24.66 euros) and reported sales of 47.2 million euros in the second quarter, up 7.8% as organic. The services company confirmed its objectives for 2010.

The recovery of steel distributor by IMS Jacquet Metals (1.93% to 29.6 euros) a share exchange transaction is now effective, IMS announced Tuesday a few days after getting the green light European authorities.The current CEO of Jacquet Metals, Eric Jacquet, has been appointed to head the new entity.

CGI Group, specializing in services in information technology and business process management has signed an outsourcing contract with Computer Systems Group distribution of electrical supplies, Rexel (1.82% at 11 , 45 euros). The contract covering a period of six years is 50 million.

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.

While places of Sidney, Shanghai and the Philippines were closed Monday due to holidays, the Nikkei in Tokyo gained approximately 1.6% to 9861 points in less than an hour of closing pushed particularly by Honda s make the award more than 3%.The group would reach an agreement with its Chinese supplier, enabling the Japanese automaker to resume normal work on Monday after a week of strike.

On the other cities in the region, the benchmark Hang Seng Stock Exchange of Hong Kong reverts to the threshold of 20,000 points to 20,047 points (0.88%). Elsewhere, the Seoul Stock Exchange gained 0.9% while in Bombay, the index yielded 0.8%.

On the foreign exchange market, the euro continues to strengthen. He traded this morning at 1.2183 dollars against 1.2077 dollars on Friday in New York. Against the yen, the euro also asserts upward to 111.91 yen against 110.65 Friday.

The strengthening of the euro leads to crude prices upward.In morning trade in Asia, a barrel of light sweet crude for July delivery gained a little over 80 cents to 74.59 dollars while Brent North Sea, with identical maturity, took 54 cents to 74 , $ 89.

Considered the nugget of all seven regional banks from HSBC France sold to the Banque Populaire Group in July 2008 – SMC was valued 1.1 billion euros over the 2.1 billion that the transaction cost – it should join the network of Crédit du Nord, a 100% subsidiary of Societe Generale, which already includes seven regional banks, the newspaper said without citing its sources.

The recovery of the MSC requested Rothschild neared 650 million, adds the site of La Tribune, reporting that it was 1.1 billion euros at the time of its acquisition.

Meanwhile, SMC, maintained by Live Banques Populaires, had been transferred to 880 million euros to all BPCE at its incorporation in August 2009, said the Tribune.

The 80 employees of the manufacturing of copper wire, whose closure was announced in late March, dispute the amount considered "deficient" in their social redundancy. In particular, they require a tripling of the amount of the premium extra-legally granted to each employee, to 120,000 euros each instead of the 30,000 proposed by management.

"No mediation of the state under threat"

While the hope of ending the crisis seemed to prevail among employees Friday morning, the tension is suddenly rise a notch after a mediation meeting with the director of the labor and employment cash advance america. The employees were entrenched inside the plant, shutting the gate using metal buckets. The group's decision to take legal action did not come a relaxed atmosphere.

The Industry Minister Christian Estrosi said he was "deeply shocked by the behavior of a small minority of employees, reaffirming that no mediation of the state in this case was possible under threat.A statement that the employees were immediately countered that it was "more ready to condemn employees and their representatives to address the issue of concern which have been seized since November 2009."

The court is expected to decide Friday afternoon on the outcome of the appeal filed by the direction of Essex.

To complete the transaction, Athens has mandated more European banks as on previous occasions, with ING and Societe Generale CIB. Two Greek banks, Alpha Bank and Emporiki Bank (subsidiary of Cr?dit Agricole) and Bank of America-Merrill Lynch, are also involved.

"The transaction represents a double opportunity," said Patrick Jacq, rates and currency strategist at BNP Paribas.First, Greece needs to refinance its debt and receives a guarantee of the Eurogroup. Then, considering the risk ultimately limited the rate of emission, at around 6% according to market sources, is very well paid cash till payday advance. Investors, reassured, therefore have to purchase, essentially says the strategist.

European banks can then buy the Greek bonds and use as a deposit to the European Central Bank (ECB) against loans to shorter terms, but at an interest rate of only 1%. Performance of the obligation Greek (6%) cons of refinancing rate of the ECB (1%) … The calculation is done quickly, "a port to 5 percentage points is very good," Judge Patrick Jacq.

The previous operations, launched January 25 and March 4 this year, had generated five times more demand than supply.Greece should lift nearly 20 billion euros on the market to refinance its debt by the end of May

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The economic crisis it have no impact on family plans? "For the moment we receive no effect, confirming France Prioux, a researcher at the INED (National Institute of Demographic Studies). This is not the case in South Korea, which announced a fall of 4.4% of births in 2009."More and more people were delayed or canceled their wedding plans during the recession," he told AFP Kim Dong-hoy, head of population studies. The Land of the Morning Calm, with Singapore and Taiwan, who is experiencing the lowest fertility rates in the world (1.15 children per woman of childbearing age).

In the U.S., it is allowed since last summer that the crisis will lead, as is customary, by a decline in births. Only data for 2008 are known, and they show a decline of almost 2% over 2007 (4 247 000, a record 50 years), according to the National Center for Health Statistics. Across the Atlantic, economic cycles and demographic change strictly in parallel, as evidenced by the four previous recessions (1974, 1981, 1991 and 2001).

This determinism is understandable in societies where birth control is more the rule than the exception.The Ireland still offers a cons-almost perfect example. The country traditionally more pronatalist in Europe – 16.9 newborns per thousand inhabitants per year, against 13 in France and 8.3 in Germany – has suffered the most severe recession in the euro area. Despite a fall of 7.5% of GDP last year's births increased 1%, according to estimates by the Directorate of Health. Explanation of the Central Statistics Office: the baby-boom years of 1980, which followed the entry deDublin in the European Union, have become parents.

The problems of income and unemployment are not always the enemy of babies. Some even see an incentive. Gary Becker, Nobel Laureate 1992 and theoretician of the family economy, showed a woman who loses her job will be available to raise a child.And the "opportunity cost", as economists say – the income to which he must renounce – will be less than if she had voluntarily quit her job. Also in times of crisis, family values are rising and fertility recovered.

Demographers are nevertheless cautious about the resilience of the French birth rate. As the U.S. federal government last year amounted to 291 $ 570 "price" to raise a child to adulthood, our system of family assistance and public benefits makes probably the "investment" less risky for couples. History shows that despite all our demographic has always responded to crises. "The Great Depression of the 1930s had rarefied births, as the oil shock of 1973.The fertility rate (per woman) fell to its lowest level in post-war (1.66) during the economic recession of 1993, "says Ariane Pailh? in the social portrait of France (2009 edition ). Why would it do differently this time?

Let's bracket the explanation, very controversial, which gives dynamism to the French foreign families. False, according to Insee, "The share of children born to foreign parents, which amounted to 6.9% in 2008 has changed little from 1998 (6.6%). The reality is more mundane, as explained Gilles Pison, demographer at INED: "Since the baby boom of the postwar period, there is a fairly high stability of the predisposition of couples to have kids. What has changed is they have more later.Initially, it helped reduce the annual number of births, then do go through a process of catching up. "Thus the fertility rate is 1.66 children pressed in 1993 to nearly 2 today.

Economic Crisis Will it change the "desire for children? Another focal point on youth unemployment. "It could he delay the time when we" settled "and you have children? It is unfortunate that the records of Vital Statistics do not indicate the rank of new-born of each family. For on the number of first births that the crisis could have the greatest consequences, "warns France Prioux. It is unlikely that France soon lose its leadership position population of the European Union.It hosts over 800 000 babies a year when Germany's powerful product in less than 700 000, despite reproductive capacity but much more numerous untapped.

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The outcome was expected, since some sources close to the matter had acknowledged that the proposed strategic merger was stalled. The French manufacturer had to be majority stake in its Japanese counterpart.

But the results from Mitsubishi – the Japanese carmaker reported Wednesday a net loss of 25.7 billion yen (195 million euros) over the first nine months of fiscal year 2009-2010 decreased by 29 3% – and the level of recovery action deemed "overvalued" by PSA eventually convince a capital alliance would not be appropriate.Philippe Varin, outside the motor show, said he wanted to maintain "financial strength" of the group.

PSA was confirmed in December of discussions for a "strategic partnership", according to information from the Japanese press that the French group was preparing to buy 30 to 50% stake in Mitsubishi Motors.

Both manufacturers have nevertheless confirmed that they will continue their industrial cooperation, particularly in "the environment and products," said the president of Mitsubishi. In an interview with Echos on Wednesday, the president of PSA has raised the possibility of building with the Japanese automaker a "small car, which is sold under our three brands, like the 4×4 today.

The French automaker announced last February 10 a net loss of 1.161 billion euros in fiscal 2009, more than three times more than the 363 million euro loss a year ago. The turnover amounted to decline from 10.9% to 48.417 billion euros.

Mitusbishi Motors closed up 0.76% at the Tokyo Stock Exchange gained 0.31% to 10,253 points.

Cadbury expects organic growth of 5 to 7% per year instead of 4 to 6%. The profit margin would rise between 16 and 18% by 2013 instead of a margin of about 15% in 2011. He waits finally growth of dividend per share "double digit" from 2010. All of which explains why Cadbury's assets are worth more than 10 billion pounds (about 11 billion euros) proposed by Kraft Foods.

"Kraft Cadbury tries to buy at a discount, to provide some growth in its business model attractive to non-conglomerate low growth, irritated Roger Carr, the chairman of candy in the document.

Hershey, Nestle and Ferrero instantly

The rejection of the offer Kfrat opens an avenue to other agri-food specialists. According to CEO Todd Stitzer British group, "third parties" have actually indicated their interest but he refuses to name them yet.

The U.S. chocolate maker Hershey is in a strong position. Last month, Todd Stitzer had clearly said he would prefer a merger with the latter rather than Kraft because Hershey is already a partner of Cadbury in the United States. The Italian group Ferrero and Swiss giant Nestle are also in the race.