International Headlines and Stories

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.

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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Was expected that Qatar Airways unveils giant Airbus order on Inauguration Day Show. Finally, the company Gulf merely a new order for six Boeing 777 for a total of $ 1.7 billion. When asked what setbacks, Akbar Al Baker, CEO of Qatar Airways, said yesterday that he was still in discussions with Airbus and the new order was not finalized. "We are still negotiating the terms of purchase of A320 and new A380 Neo. The announcement will take place later, perhaps even after the Paris Air Show, "said the CEO of Qatar Airways, whose existing fleet of 98 Boeing aircraft with only 25.

Akbar Al Baker said he was extremely disappointed with the delays announced by manufacturers on their programs and in particular the delivery of the A350 XWB."We need to have an overview to decide on our purchases of equipment and because of these delays, frankly, we no longer trust."

The officer of the company of Qatar has made no secret that he is very interested in programs of Russian and Chinese manufacturers "based on Western technology".

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The idea of ​​a debt restructuring Greek away. Not that the Greek finances are better, but the idea of ​​establishing a new financial assistance plan to avoid bankruptcy again the country is preferred. A year after the granting of a loan of 110 billion euros, and Europeans should put money on the table … to conditions that Greece itself consents to further efforts.

According to latest information, this aid would be encrypted between 60 and 70 billion euros. The IMF would disburse 10 billion euros and the European Union, 20 billion. Greece, she will find 25 to 30 billion. How? Increasingly advanced the idea of ​​involving the private sector in these efforts. The basic idea is that banks maintain their exposure to Greek debt on a voluntary basis, to prevent capital flight.It argues that Germany: "It is important that the private sector assumes its responsibilities," said-there at the German Ministry of Finance. And the ECB seems to favor this solution. Anyway, this Thursday, Jürgen Stark, member of the ECB executive known for his orthodox positions, said the agency did not rule out this hypothesis.

Fiscal restraint and privatization

Greece and a delegation of the "troika" (European Union, International Monetary Fund, European Central Bank) are still debating. They promised that a statement would be released Friday afternoon. Greek Prime Minister George Papandreou will deliver when the outline of the new austerity program they have developed.According to sources, the amount will rise to 6.4 billion euros, the price of higher taxes and a revision of tax exemptions on income.

However, nothing is said about the new aid. Jean-Claude Juncker, Eurogroup President, assured that no crisis meeting between finance ministers of the European Union was expected. A decision will be taken "by the end of June."

Adjusted parallel, the country's bluff, has initiated a process of privatization, which will reap 50 billion euros fast cash advance loan. Ports, airports, railways, water from Thessaloniki and Athens, racetracks, telecommunications and the postal bank is the first wave of Greek businesses for sale.A strike call was issued for June 9 to protest against the wave of privatizations.

The euro, "strong and credible"

If the equity markets still lag heavily the shock of the degradation of the note in Greece yesterday (Wednesday), the euro, he continues his way to the rise, settling comfortably above U.S. $ 1.44 (1.4472 at the highest this Thursday). Thus, in the underlying trend, concern about the financial world dominates while the Greek bounces back – and worried – almost every day: today at the Paris Bourse, the CAC 40 plunged more than 1.4 % to 16 hours and Wall Street is struggling to resume after signing its worst session since August 2010.Yesterday, the German newspaper Frankfurter Allgemeine Zeitung has confirmed the hypothesis of a new program of assistance to Greece, which the IMF would take part, failing to pay the last part of the initial grant.

But the most volatile foreign exchange market, for sale today are in favor of the euro … and against the dollar. The European currency was primarily driven by reassurances from Jean-Claude Trichet, who said on Thursday in Germany, that "there is no crisis of the euro", and called the currency " strong and credible ". The ECB president has fueled the prospect dune next rate hike. He also suggested the creation of a Ministry of Finance and European imagines that "the European authorities have the right to veto certain decisions of national economic policy."American side, a series of bad economic figures have polmbé the dollar, the euro mechanically pulling upward.

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This had not happened for a month. The Cac 40 closed on Monday below 4000 points, among others penalized by bank stocks. Investors worried about a new crisis on the debt of the euro area after the arrest of the International Monetary Fund boss Dominique Strauss-Kahn. Leaded by the poor performance of banking stocks all morning, stock index is now up in the green, thanks to the rebound … banks.The Cac 40 rose 0.21% to 3998.06 points, flirting with 4000 points.

At the London Stock Exchange, the FTSE-100 fell by 0.33% to 5,904.27 points and Frankfurt Stock Exchange, the DAX 30 lost 0.55% to 7346.81 points.

Monday night, Wall Street has ended the session down in response to the publication of indicators revealing the fragility of U.S. recovery.

The Euro continues Tuesday

In the absence of corporate results announcements, the index will evolve with ads that will be made following the meeting of EU finance ministers to discuss particular mechanisms of financial aid in the euro area. On the issue of Greece's debt, the Europeans are divided.

After starting the session again difficult, banking stocks will resume in late morning.BNP Paribas climbed from 1.32% to 53.78 euros, gaining 0.55% Natixis to 3.82 euros, Societe Generale rising from 1.23% to 42.44 euros and Credit Agricole takes 0.18% to 10 95 euros.

EU: lower sales of new cars

On the macroeconomic front, the new car registrations in the European Union fell 2.7% annual rate over the months from January to April, according to figures released Tuesday by the European Automobile Manufacturers Association (Acea). On April alone, new registrations 1089.118 were recorded, representing a decline of 4.1% over one year.

Peugeot was down 1.07% to 30.136 euros and Renault lost 0.66% to 39.79 euros.

United States, are scheduled starts of dwellings in April (14.30) and industrial production in April (15.15).

On the currency markets, the euro rose slightly against the dollar, from 0.16% to 1.4183 dollar.

Energy stocks retreat

On the corporate side, the energy values ​​suffer from the decline in commodity prices. Total coward 0.88% to 40.20 euros and Vallourec dropped 1.04% to 87.69 euros.EDF lost 0.71% to 28.67 euros and GDF Suez sold 0.83% to 25.66 euros.

Bouygues: -3.90% to 32.64 euros (largest decrease in the Cac 40)

Bouygues raised slightly on Monday its goal of annual sales after a first quarter marked by a rebound in activity but penalized at the net contribution by Alstom.

Vivendi: +0.36% at 19.30 euros

Vivendi announced Monday it had obtained signed with a syndicate of 17 banks a new line of credit totaling € 5 billion that will allow it to optimize the management of its bank debt at the time of the acquisition of the 44 % of SFR held by Vodafone.

Publicis: 0.29% to 38.58 euros

Publicis buys U.S. digital marketing agency Rosetta for at least $ 575 million – the agreement provides that an additional payment may be made in 2014 to Rosetta in the case of good performance over the period 2011-2013.

Carrefour wants IPO for its real estate assets

Carrefour: 2.26% to 30.95 euros (largest increase Cac 40)

During its Investor Day being held in Paris from 9:15 Carrefour confirmed its intention to IPO for its real estate assets, Carrefour Property.

The group also said that the demerger of its business Dia hard discount will be in the form of the distribution of a dividend. Carrefour expects the IPO of Dia in Madrid on July 5 is valued at about four billion euros.

History may repeat itself. While coal seems to belong to our industrial past, this energy source could again be used to power our electricity needs. Philippe Joubert, president of Alstom Power believes that the development of this fuel, better used and combined with CO2 capture technologies could contribute more to cover the energy needs of the planet and especially in Asia.

lefigaro.fr – You have created a joint venture with Shanghai Electric in the areas of boilers for coal-fired power plants, creating the market leader. Bet you on development of coal power plants?

Philippe Joubert – Coal-fired energy efficiency and environmental recognition are booming, particularly in Asia.However, I have a vision for long-term market and I believe that all technology is integral to the balance of the world. Nuclear, solar, hydropower, coal plants … there is no quick fix. All technologies are needed to produce electricity.

The coal could they not benefit from the current debate raised by the accident at the plant in Fukushima? Several countries, like Germany, have expressed their willingness to abandon nuclear …

Today we actually build many coal plants and gas. An evolution of the global energy mix is ​​thus expected. However, we favor a diversification of energy sources.

And we must relativize the importance of nuclear energy market.This energy source is ultimately less than 10% of all energy produced in the world and is contested in countries where this energy is not a majority in the energy mix. For example, the German market represents less than 21 gigawatts of nuclear energy cons 392 gigawatts for the global market. For example, countries dependent on nuclear power, as the U.S. and France respectively produce about 100 gigawatts and 70 gigawatts.

Coal will remain there a piece of the global energy mix?

Over 40% of the electricity produced in the world based on coal fast cash advance. Asia currently consumes almost 80% of world coal production. But the real issue today is how the emerging cover their soaring energy needs, where those of the United States or Europe have low growth.Development of coal power plants seems to agenda.

Coal plants are very emitting CO2. Can we thus generate electricity without CO2?

We can produce electricity from coal without emitting CO2. But the latest plants can significantly reduce these emissions. In parallel, we develop carbon capture and storage of CO2 (CCS). This is to recover the CO2 and storing it underground (in underground cavities emptied during gas extraction, ed.) The cost of electricity through a coal power plant equipped with this device is however still much higher than a conventional plant. But we are at the beginning of this new technology.

Mined since the eleventh century, coal still has reservations

Coal is the fuel of superlatives.Mined since the eleventh century, it is one of the oldest energy sources. And even today it remains the most widely used fossil fuel in the world: it can produce more than 40% of worldwide electricity. Many countries, primarily the emerging countries, still use it as a primary energy source like South Africa, China, Australia or Poland. Moreover, world coal reserves are found in many countries, no less than 70. The main reserves are in the United States, Russia, China and India. They are estimated at over 984 billion tons. Thus, if consumption is maintained in the state, known coal reserves could last for nearly two centuries, so an oil shortage looming for 2050.

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France and Ivory Coast are the two favored destinations of Africans who emigrate. The former colonial power in its home soil 2.754 million while the world's largest producer of cocoa welcomes 2.448 million. World Bank figures cited in the introduction of a groundbreaking study aimed to "increase the impact (economic) migration to Africa." This is a reminder that all Africans will live outside their country of origin does not necessarily leave the continent."Two thirds of migrants from sub-Saharan Africa, especially the poorest, will relocate to other parts of the continent, while in the case of North Africa 90% have gone overseas," notes the report .

As Côte d'Ivoire has positioned itself as the main attraction is obviously surprising: the High Commissioner for Refugees (UNHCR) has noted that over 150,000 Ivorians have fled to Liberia in recent weeks . But the fact is that since the time of French colonization, the country has continued to attract labor nearby. At that point in the 1970s, President Houphouet-Boigny had to launch the concept of ivoirité to reassure citizens worried about the influx of foreigners.

The ebb and flow demographic facing Côte d'Ivoire illustrate the ambivalence of inter-African migration.Although they mainly follow economic motivations for richer countries like Nigeria and South Africa. But sometimes they are "forced migration". UNHCR now counts 2.2 million refugees who have fled as a result of wars or natural disasters, not counting the 6.5 million people displaced within their own country.

Brain drain reaches alarming levels

It can not therefore underestimate the negative impact of migration on neglected regions. The chief economist of the World Bank for Africa, Shantayanan Devarajan, admits that "human capital flight" penalize "the small countries and low income" and "fragile countries emerging from conflict . More general phenomenon, the brain drain, brain drain, is reaching alarming proportions.The Bank notes that a graduate in eight African higher education living in OECD countries. It is a scourge in Ghana: 37.1% of physicians trained in its schools and 55.9% of practitioners were born on the land are working abroad. In total, 11% of nurses and 18% of doctors educated in the south of the Sahara are working in other lands, resulting in a shortage of medical personnel even more pronounced than the country's poor.

Despite these caveats, experts from the World Bank believe that "Africans living abroad are a vital resource." The main channel, it is the remittances, the remittances, as the English word, that expatriates send regularly to their families back in the motherland. This vector is now more important than official development assistance.He pumped $ 39.7 billion in 2010, with 21.5 billion for North Africa and 18.2 for sub-Saharan regions. These funds are also less volatile than foreign direct investment, which fell in 2009 with the crisis.

Introduce dual citizenship for their emigrants

It is possible to increase the impact of these funds that are within families across national borders, said Dilip Ratha, senior economist with the Bank on matters of migration. "Some countries, like Mexico and Turkey, have tried to direct their capital for collective investment, but it did not work. We must preserve their privacy, as is a personal decision to emigrate, "the former judge of Crédit Agricole Indosuez economist of Indian origin.He suggested, however, to tackle the endemic problem of transaction costs, totally excessive (you must pay $ 20 for sending $ 200). The solution would be to play the network of posts and mobile phone companies.

Beyond remittances, Dilip Ratha advocates to mobilize the entire savings of diasporas, which he estimated at $ 30.4 billion annually to sub-Saharan countries. The idea would be to issue savings bonds, similar to what Israel and India have long been, and that Greece seeks to establish with its own diaspora.These securities, issued off-market rates, for ratings from 100 to 10,000 dollars would be used to "finance infrastructure projects and health education."

Last but not least, Dilip Ratha urges African States to introduce dual citizenship for their emigrants (only accept 20 of 54) to strengthen their links with foreign communities. He had no doubt that these diasporas have a great future in view of demographic developments. By 2050, the population of working age will decline by 88 million in Western Europe, where sub-Saharan Africa will have increased his $ 699 million!

The markets are perplexed. The Cac 40, which attempted to regain the path to higher opening on Wednesday (0.53% to 3800.83 points) quickly changed his tune. At the midpoint the CAC 40 was down 0.72% to 3753.56 points.

Other European markets are also struggling: the Dax in Frankfurt Stock Exchange which had opened higher yields of 0.73% 0.08% mid-session at 6642.34 points and the London Stock Exchange which started on a slight gain of 0.10% was down 0.74% at 5653.40 points.

The operators first tried to follow the positive momentum from Asia this morning, which allowed the Japanese Nikkei to close on a technical leap of 5.68%, and led the other places in the region in the green . Intensive hunting for bargains in the indices increased in a climate a bit calmer after further intervention by the Bank of Japan (BoJ).This has injected 3.5 trillion yen Wednesday (31 billion euros) in the money market, bringing to 26,500 billion yen (234 billion) the total sum provided by the BoJ to the interbank market since Monday. But the trend remains fragile in the wake of widespread declines sessions to all European markets, and to a lesser extent, the U.S. exchanges.

The trust is indeed far from being restored while the nuclear situation in Japan remains very critical. Radioactivity measured at the entrance to the central Fukushima reached a new peak around 10:45 am local time, reported the Japanese Nuclear Safety Agency. "The level of radioactivity near the entrance varies greatly from hour to hour at levels that continue to be harmful to health," said government spokesman Yukio Edano.In addition, a strong earthquake occurred Wednesday at mid-day (this morning in Paris) east of Tokyo, where buildings have long trembled.

New flurry of indicators in the program

Markets should also keep an eye on indicators of the day, again numerous. In Europe, registrations of new cars rose 0.9% yoy in February, the first bounce after ten consecutive months of declines, according to figures released Wednesday by the European Automobile Manufacturers Association (Acea).

Inflation in the euro area rose to 2.4% in February over a year, Eurostat said Wednesday. It was 2.3% year on year in January from 2.2% in December and 1.9% in November. Rising prices rose 0.4% in February compared to January.

United States, the Labor Department will publish the price index for production at 13.30.At the same time will the housing starts and the balance of current accounts. Finally, at 15:30 will be published weekly petroleum stocks.

On the currency markets, the euro has stabilized at 1.3977 dollar.

Values ​​to follow

As for values, securities directly or indirectly exposed to catastrophe Japanese started to fall again after regaining some colors in early trading. LVMH fell by 0.87% to 103.03 euros and Hermes of 1.13% to 144.05 euros.Only the investment certificate Areva bounced 2.85% to 29.62 euros after its tumble over the last three sessions.

EDF: -0.49% to 28.42 euros

The electrician French and Italian A2a confirmed Tuesday the six-month extension of their shareholder pact in Edison to take the time to reach agreement on the restructuring of their partnership.

In addition, the group is preparing to send "teams" and "equipment" in Japan to help the company Tokyo Electric Power (TEPCO), which operates the nuclear plant in Fukushima, cope with the consequences of the tsunami, said Wednesday the company's CEO, Henri Proglio on RTL.

L'Oreal: + 0.41% to 78.40 euros

The president of Yves Saint Laurent Beauté, a subsidiary of LVMH, told Reuters that his company intends to almost double its turnover in five years to reach the one billion euros, thanks to the lever Asian and climb well the club of top five global brands of cosmetics.

Alstom: + 0.50% to 38 euros

The CEO of Alstom, Patrick Kron, said he still opposed the entry of Mitsubishi Heavy Industries in the capital of Areva.

Renault: + 0.31% to 37.67 euros

The money paid by the manufacturer to pay the false information intended to support the charges of espionage brought against three of its executives has been partially solved in a Swiss bank account opened by one of his security guards, shackled Duck wrote on Wednesday.

Note that the manufacturer has sales up 2.8% in February over a year, according to figures of registrations of the European Union. For his part, Peugeot (2.48% to 27.22 euros) sees his own shrink by 5%.

BNP Paribas: -2.21% to 50.81 euros, Societe Generale: -2.12% to 44.83 euros

The banks are down sharply after Moody's lowered the rating on Tuesday night in Portugal two notches to "A3" with negative outlook, raising fears about sovereign debt of countries known as peripheral euro area.

Bollore is optimistic

Bourbon: -5.37% to 32.01 euros

The group released Wednesday 2010 earnings fell sharply, mainly because of difficult market conditions, but the group estimated that the average utilization rate of its fleet to continue to improve gradually.

Transgene: -4.83% to 11.23 euros

The group referred to tackle 2011 with confidence even though the French biotechnology company has continued to widen its loss in 2010 and some of his projects have been delayed.

Mersen: 33.64 EUR -3.25 EUR

The group said Wednesday expect for 2011 a slight improvement in profitability and renewed growth, albeit slow, its sales from the electronics and solar energy.

Bolloré: + 1.18% to 154.15 euros

The group reported a 40% increase in operating profit in 2010 thanks to its growing transport business, logistics and port handling.

Zodiac Aerospace: + 1.62% to 47.72 euros

The group raised its revenue forecast for 2010-2011 after a second quarter better than expected thanks to the recovery of the aviation sector.

EPA will report on its February traffic. Ruby, Stallergenes and Boiron reveal their annual results after market close.

After the fall of the regimes in Egypt and Tunisia, tensions rise in Bahrain, Algeria and other OPEC member countries, especially Libya, the brink of "civil war" as a son of Colonel Muammar Gaddafi in power for 42 years, which would have left the country to seek refuge in Brazil or Venezuela, according to Al Arabiya.

On oil markets, the reaction is, as always, immediately on Monday morning. In Asian trading, a barrel of light sweet crude for March delivery gained 1.13 dollars to 87.33 dollars. As for Brent North Sea crude for April delivery, it took $ 1.02 to U.S. $ 103.54 or back to a high technical threshold. "The main factor (this flight) is the disturbed situation in the Middle East," said Victor Shum, an analyst in Singapore.He said that "Libya is a member of OPEC and although its oil production is modest at the global level, the country is near the main suppliers of black gold of the planet."

Renewed uncertainty requires the price of gold, a safe haven par excellence, also increased and currently process close to $ 1400, exactly at 1395.10 euros (+1.8%), and its highest Historical. Even tedance on silver prices, which hit a record last thirty years.

Finally, food prices are approaching the "level of alert," warned the World Bank on the sidelines of the meeting of G20 finance ministers in Paris, which revealed that between June and December, rising food prices have dropped 44 million people worldwide below the extreme poverty.

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Early 2011, France could surprise. Growth should accelerate in the first quarter and reach 0.8% growth, according to the first estimate of the Bank of France published on Tuesday. The final figure for the fourth quarter of 2010 is not yet known, but activity is expected to grow by 0.6% according to the institution.

"If the forecast of the Bank of France for the first quarter is confirmed, then it is clear that we will reach the government target of 2% growth over the year," says Dominique Barbet, an economist at BNP Paribas' market, who said he was surprised by this result. The rebound in activity observed by the Bank of France is driven by the industry. The institution observes an acceleration of output in January to 110 points in January against 107 in December. In services, the business climate has earned two points in a month to 101.

"Exports have been very dynamic, with Germany and distant clients who are experiencing very good growth," Dominique Barbet further analysis. "And we're not a champion of competitiveness, advantage is probably that some customers are turning to us because their suppliers are running at full capacity."

However, he believes that this first estimate of the Banque de France for the first quarter growth "appears high." Natixis, which published its leading index Monday to table its share growth of 0.5% over the period.