As on Wall Street and Asian stock markets, doubt seized investors, who are now considering the worst: a contagion of debt in the eurozone. With the center of these concerns, the situation in Italy, including the implementation of austerity measures remains uncertain. The announcement yesterday of the upcoming departure of Italian Prime Minister Silvio Berlusconi has in fact added to the uncertainty, as evidenced by soaring rates in ten years the Italian Treasury payday loan.Interest rates at one year paid by the Italian Treasury this morning reached a new record during a test program.

The concerns of the operators in the financial markets move increasingly towards France. This morning, the rates of French government bonds to ten years has exceeded 3.30%.

Unison concerns of investors, Brussels found the Italian debt situation "very worrying". Ditto for the International Monetary Fund: its director Christine Lagarde said today that "lack of political clarity" in Italy supplied the uncertainties, according to Reuters.

"Management is currently parades, but it can not hold the road in five days," said Gaëlle Sibril, steward of Southern Air. "That's why we filed a notice of strike for five days because we know they can be organized over two days but no more," she added.As at the airport in Toulouse: Toulouse-Orly ten flights on nineteen planned included were canceled, said the Depeche du Midi. The newspaper also states that "last-minute delays are expected." Note that at Nice, the third busiest airport in France, three flights were canceled Saturday to Paris no fax pay day loan. The same applies to Marseille where five flights were canceled in the direction of Roissy and Orly.

In total, about 200 flights on the 1000 planned were canceled Saturday. To service, the company temporarily restricted to 100 passenger capacity of its medium-haul flights from Orly. This management method was chosen to avoid having to put down passengers for lack of a sufficient number of hostesses and stewards. "It blocks the flights a minimum. Is completed according to the presentation of the crews as and when.Traffic should be disturbed until Wednesday, November 2 included.

In 2007, a similar strike, triggered by the same six unions to the same period of Toussaint, had caused major disruptions. Air France was forced several times to review downward its traffic forecast: 90% of flights expected to be provided the day before, this had increased to 60% during the weekend.

Modified or exchanged for free tickets

The company called to check passengers before they leave for the airport, on the website of the company, the list of flights canceled or delayed. They also know the traffic forecasts by sending an SMS to 63654 with their flight number.

This rise of the single currency is a sign, according to one analyst, "the market seems a little more optimistic." In fact, for several weeks and an acute crisis on debt, the euro was more the subject of a "massive unwinding of positions."

Investors continue to regain confidence in the idea of ​​a solution to the debt crisis.Policymakers ensure that the enlargement of the European financial stability will be ratified soon, Slovakia should indeed turn around in a new vote tomorrow. What can the countries of the euro area together to help troubled banks to recapitalize, to avoid the bankruptcy of an institution that could create a systemic shock.

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Investors focused on news from Europe. After the announcement, positively received, a new agreement between central banks to provide dollar liquidity to European banks and Japanese eyes were riveted to Poland which is a meeting of EU finance ministers.The latter have formally agreed on the principle of strengthening fiscal discipline by imposing financial penalties on countries too lax, paving the way for formal adoption of this reform.

In contrast, the euro area and again stumbles on the guarantees requested by Finland in exchange for new loans in Athens, an issue that poisons relations within the euro area.Concerning the payment of a further tranche of loans that the country urgently needs, the euro area has decided to postpone any decision until October.

Invited exceptionally, U.S. Treasury Secretary Timothy Geithner has also expressed concern about the divisions between governments and the European Central Bank (ECB).

U.S. consumer confidence rises

In this context, the "four witches" today is to say the expiration of four types of futures contracts on indices and stocks, have increased volatility.

Good news, however, helped keep the exchanges in positive territory: U.S. consumer confidence rises, according to the index of consumer confidence in September, published by the University of Michigan.The index, which fell in August to its lowest level since November 2008, increased 2.1 points to 57.8, according to a still provisional estimate for September. Analysts were waiting a little lower, at 56.3.

Oil has closed lower Friday in New York, suffering from profit taking less reassured investors that the day before on the likelihood of a quick resolution of the debt crisis in Europe.A barrel of "light sweet crude" for October delivery ended down $ 1.44 on the New York Mercantile Exchange, to 87.96 dollars a barrel.

RIM collapses

On the corporate side, Research in Motion (- 18.99% to 23.93 dollars), the maker of BlackBerry smartphones, collapsed after publishing quarterly results fell sharply, well below analysts' forecasts.

The rating agency Moody's said Thursday it placed under surveillance notes of the bank UBS (+ 4.16% to 11.89 dollars) with for a potential degradation due to "weaknesses in the management of risk group. "

At the heart of the news, Google (+ 0.76% to 546.68 dollars) has purchased additional patents in 1023 the computer company IBM (1.55% to 172.72 dollars) to strengthen its portfolio and attempt to discourage trial for violation of intellectual property.Google expects the other hand that the number of Internet users in India to be tripled in three years through improved access to wireless internet and at prices more affordable smartphone, reported on Friday Wall Street Journal.

Boeing (1.49% to 65.28 dollars) could finally respond to the order by Air France-KLM of 110 long-haul aircraft, including 50 firm orders, builders Boeing and European Airbus to ensure the renewal of its fleet.

Wednesday he had already climbed 1.87% to 2949.14% points as investors cautiously welcoming the determination displayed by German Chancellor Angela Merkel, French President Nicolas Sarkozy and Prime Minister of Greece George Papandreou during a conference call Wednesday evening out to Athens for the crisis.

Same upward trend in other European financial centers: London in mid-session gaining 1.38% and 2.10% while Frankfurt Milan rose 1.49% and 2.51% in Madrid.

For now, the markets show their confidence in the ability of the euro area to help Athens to prevent the country will default, and is forced out of the single currency.

After months of deadlock between Parliament and European governments agreed in principle to toughen the Stability Pact and fiscal discipline common EU response to the crisis of debt was signed in Strasbourg on Thursday morning. This device provides for financial penalties in the form of cash deposit in blocked accounts for countries that would leave too lax spinning their deficits, and processes more automatic than in the past to punish the worst performers in Europe.The agreement should therefore be subject to European finance ministers Friday in Poland, that will floor on the back of the Greek crisis in a macroeconomic environment deteriorated.

At the end of their conference, the Franco-German said he believed the day "that the position of Greece is very much in the euro area." But on one condition, also very explicit: "The implementation of strict and effective recovery program of the Greek economy supported by the countries of the euro area and the IMF and which conditions the disbursement of future tranches of the program. "George Papandreou was quick to deceive, confirming" the absolute determination of his government to take all necessary measures to implement all commitments. "For the budget minister Valérie Pécresse, what the Prime Minister of Greece were "reassured" the euro area, she said on Thursday LCI.

For its part, the Chancellor has again ruled out the idea of ​​European bonds, proposed by some to pool at least part of the issuance of debt of the euro area. It would be "absurd," she said this morning outside the Motor Show in Frankfurt.

The U.S. maintains pressure on Europe

To this, add the announcement of the Brics (Brazil, Russia, India, China and South Africa) said on Wednesday that they could increase their holdings of bonds denominated in euros. Brazil has such willingness to participate in a "global effort" against the economic crisis that affects rich countries, said the same day the President of Brazil Dilma Rousseff.The same goes for Russia, which has indicated its willingness to "consider an investment in the new mechanism in the euro area if the responsibilities are clearly defined" through its Vice-Minister of Finance. However, Italy, whose rates have soared during bond, has denied media reports that she would have asked China to invest in debt.

U.S. side, however, no way to release the pressure on Europe. It "must do more" in the words of Timothy Geithner, U.S. Treasury Secretary, who must participate in a meeting Friday of finance ministers in Europe.In an interview Wednesday on the financial channel CNBC, he considers, however, that the Europeans 'capacity' to solve the crisis, seeing a good eye that they "recognize that they are late."

Note that Christine Lagarde, Executive Director of the IMF, should give a speech in Washington on "Challenges and solutions for the global economy and the IMF" to 16 hours. While Ben Bernanke, the Fed chairman, should speak at a conference in Washington on the regulation of systemic risk in the early afternoon.

Oil prices continue to fall

On the macroeconomic front, the number of people employed in the euro area rose by 0 Online payday loans.3% in the second quarter compared with the previous three months, said Thursday the EU statistics office Eurostat.Still according to Eurostat, inflation remained stable in August in the euro area to 2.5% year on year, as in July.

In France, the trade deficit is expected to reach 75 billion euros this year, a new sad record after the 56 billion euros recorded in 2008, says Les Echos. For its part, the European Commission revised downwards its growth forecast for France for 2011 to 1.6% against 1.8% expected so far.The annual growth rate of the euro area as a whole also 1.6%, however, is consistent with a previous estimate.

For its part, Spain has raised 3.95 billion euros in the markets Thursday, with bonds to eight and nine years, with rates down from the previous issue of the same type on July 21.

Finally, many figures are expected in the U.S., including inflation for the month of August, the current account balance in the second quarter, the weekly claims for unemployment and industrial production for the month of August .

On the foreign exchange market, the euro climbed to 0.44% against the greenback at 1.3804 dollars on Thursday.In turn, oil prices continued to fall, after figures showing a decline in demand for refined products in the United States, and while the markets remain worried about the situation in the euro zone, analysts said. In morning trading, a barrel of "light sweet crude" for delivery in October lost 43 cents to 88.48 dollars per barrel of Brent North Sea crude for October delivery 53 cents to 111.87 dollars.

Values ​​to follow

• Banking

The banking sector, including Societe Generale (13% to 19.73 euros), BNP Paribas (20% to 32.52 euros) and Credit Agricole (12% to 5.88 euros) remains in the spotlight. It does not seem affected by the revelation of a fraud, a trader at UBS.The crisis became systemic, according to a document sent to the European Union finance ministers and obtained by Reuters, which also recommended a further strengthening of bank resources.In addition, two out of three French believe that the weakening of the banking sector related to the debt crisis could threaten their economies, according to a CSA poll released Wednesday to Les Echos.

• LVMH (2.15% to 114.20 euros)

The group announced Wednesday it had chosen Jordi Constans, come to Danone, to succeed Yves Carcelle at the head of Louis Vuitton in 2013.

• ArcelorMittal (3.65% to 13.35 euros)

The company promised to stop its steel plant in Florange (Moselle) would be temporary, said Wednesday the French government.

• Areva (2.11% to 21.02 euros)

The nuclear expert will present its strategic plan in early December through improved operational performance, an adjustment of investment and possible asset sales, its chief executive said in an interview for Echoes.

• Publicis (2.03% to 31.11 euros)

The group announced Thursday the acquisition of 100% stake in a public relations agency in the United States, Schwartz Communications, which specializes in technology and health, for an undisclosed sum.

• Bouygues (1.31% to 25.05 euros)

Wednesday, Bouygues Construction, through the company Eirene, delivered the first 53 service centers and respond to the DIT (Directorate of transport infrastructure under the Ministry of Ecology, Sustainable Development, Transportation and housing), according to Reuters.Eirene now provides maintenance and management of these buildings for 28 years.

• Technip (2.06% to 68.77 euros)

The French group of Petroleum Engineering has won a contract for facilities ammonia-urea fertilizer in Port-Gentil (west of Gabon), from Gabon Fertilizers Company, said in a statement.

• Cellectis (6.19% to 6 euros)

The company will acquire the Swedish company Cellartis specialist tools for research and development in vitro derived stem cells, as part of a contract valuing the approximately 33.8 million.

• Hermes

The luxury group said that trading in its title would be suspended Thursday pending the decision of the Court of Appeal of Paris on the exemption granted by the AMF on the buyout of minority interests.

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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The disappearance of the gas station of the Magi was certainly inevitable. In 1985, there were 29,750 service stations, according to the French Union of Petroleum Industries (Ufip). Since the network has disintegrated. They were more last year than 7149, only 1538 independent. Regression for the benefit of a large area stations: 2250 26 years ago, they are now 4902.

Financial support

But to make matters worse, the service station owners are now faced with a challenge.Finance the upgrading of their facilities necessitated by the transposition of European directives into French law, whose applications are expected for a period from 2013 to 2020.

These regulations impose progressively strengthen the provisions for recovering gasoline vapors during the refueling of vehicles to fight against air pollution, compliance with new distances "between the devices and distribution from a public establishment or of a building inhabited "rearrangements of tracks, but also the installation of double-walled tanks.

"There's € 20 000," says Jacky Regula. The attendant of the Magi is all the more bitter than the prices differ by only a penny from the Intermarché neighbor. "I'm fighting with my cash and pay my suppliers in five days to get the best price.But to be profitable, it takes at least a margin of seven cents per liter, "says he.

"These obligations can result in decisions to stop activity by owner-operators with two main reasons: the high level of investment and the inability to meet the new standards such as safety distances," warns the Ufip.

Brigitte Bros., owner of the resort village of Lozère Malbouzon (160 inhabitants), near the A75 motorway, is categorical: "The standards being too expensive. It will not work. "Just for the two pumps, estimate amount to € 60 000. "It is amortized over a hundred years, she joked. The station is to be helpful. There are not many in the corner. It is open seven days a weekIt's a real public service. "

Brigitte Bros. has yet stepped up efforts to keep his business, where a liter of diesel is € 1.55, or about 16 cents more than in a supermarket. Managed for nine years by Evelyne Perret is the only gas pump to 10 miles around, and one of the five supply points independent of the department.With about 6000 liters of fuel sold each month, the station scrapes, supported by the activity of the restaurant, coffee Perret, with its workers to 12 € menu.

At the number of closures announced, the Professional Committee of the fuel distribution has developed budgets that can partially support the small owner.

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A voluntary separation plan envisaged

As announced last week, the group led by Antoine Frérot said to have encountered difficulties in Southern Europe, North Africa and the United States, that led it to implement further restructuring and strengthen the redeployment of its activities to concentrate on "a small number of countries."

By 2013, Veolia Environnement wants to actually be present in fewer than 40 countries, against 77 at present. For example, he announced a withdrawal "significant" in some areas and trades, such as the withdrawal of transport activities in Morocco, cleanliness in Egypt, or Marine Services in the United States and southern Europe. This acceleration of focus is not without consequences on the accounts.In a statement, Veolia said that 686 million euros in writedowns were recorded under the operational difficulties encountered in Italy, the United States and Morocco. Hence the fall in operating profit recorded over one year of 1.101 billion to 252 million euros.

As part of its reorganization, the group also announced it would establish voluntary severance schemes in France, in the water sector.

Doubts about the dividend

Given these results and further steps that need to be implemented, Veolia will therefore not committed to a growth in profits for the year 2011.Not surprisingly, however, the group confirms its other annual goals, including organic growth of its business and asset sales for at least 1.3 billion euros, a positive free cash flow after payment of the dividend.

At the meeting presenting the results, Antoine Frérot explained, however, he was not able to guarantee that Veolia would maintain its dividend in 2011 at the same level as that of € 1 paydayloans.21 paid in 2011.

Other objectives, Veolia is a recurring operating income "slightly down" at constant exchange rates (excluding the consolidation of Transdev Veolia confirms that the group will introduce a stock exchange), and finally, cost savings of 250 million euros.On this last point, Veolia plans to accelerate its cost savings in the longer term, with an expected positive effect on operating profit of at least 150 million euros in 2013 and 250 to 300 million in 2015, and more of 250 million mentioned above.

The title Veolia has lost 25% of its value in five days

Despite the warning last week, and the fall of 9.5% of the title that had followed, investors have been very hard on the tooth that bad publication. After opening down sharply from 8.04% to 13.15 euros, the title was abandoned among the first on Thursday in a market panic. Veolia ends with an impressive plummeting 18.88% to 11.60 euros.

Overall, Veolia has lost a third of its value within five sessions …These results are disappointing especially since yesterday, Suez Environnement, the French rival Veolia has published interim results rather reassuring, thanks to the good performance of the water division, and finished the session at the Paris Bourse rose 0.68%, despite a plunge of more than 2% of the Cac 40.

Since Friday, the penalty did not expect that the part of analysts, with numerous recommendations degradation. Monday, Goldman Sachs withdrew Veolia from its list of preferred European values, lowering its recommendation to neutral, for a revised price target of 26 to 20.50 euros. For his part, Oddo has also lowered its recommendation from neutral to reduce to a revised target of 24 to 15 euros. CM-CIC Securities is left to buy but has revised its target price of 24.1 to 19.6 euros. BNP Paribas expects a still under-performance but reduced its target from 21 to 15 euros.Finally, HSBC rose Tuesday from overweight to neutral, slashing its target from 21 to 17 euros.

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Despite a 10% drop in net profit in the second quarter over one year to $ 1.5 billion, ArcelorMittal has been a further improvement in operating performance. The gross operating income has increased by 21.5% year on year to $ 3.4 billion (2.3 billion euros). Moreover, the turnover has won 24.7% to $ 25.1 billion (17.3 billion euros)."As we anticipated, the company reported a strong performance in the second quarter of 2011, driven by higher selling prices of steel," said CEO Lakshmi Mittal said in the statement.

But these indicators should weaken in the third quarter, the steel industry was experiencing a generally soft, due to plant closures for holidays in Europe and a slowdown in demand. ArcelorMittal anticipates a gross operating profit (EBITDA) of between 2.4 and 2.8 billion (1.6 to 1.9 billion euros).

However, the group expects strong demand from China and the automotive sector, which should prevent it from experiencing the same quarter in 2010."Although the third quarter should be somewhat affected by seasonal factors, they should not be as pronounced as last year and the performance of the group the second half of 2011 should be compared favorably with that the second half of 2010, "assured Lakshmi Mittal.

So yesterday, a barrel of oil fell in New York and London due to the intervention of the International Energy Agency – which drew on its stocks to meet a "shortage", companies the airline industry substantially benefit the stock market. Air China climbed 6.81%, 1.87% of Singapore Airlines and Qantas of 2.33%. Values ​​rise as exporters like Toyota (1.08%) or Toshiba (4.10%). In South Korea, Samsung and LG allows itself 1.2% 0.9%.On Friday, oil prices increased again: the barrel of "light sweet crude" for delivery in August went back to almost 92 dollars (91.94 dollars to be precise). That of Brent North Sea crude for August delivery took 64 cents to 107.90 dollars. Note also that in Australia, the giant telecom Tesltra which drops by 2.7% against a backdrop of advertisements loss widened.

This Friday is also the first trading day of the Italian Prada. The luxury group took 0.25% for its early trade Friday, becoming the latest group to date to be chosen this place in the heart of Asia to raise capital.The action open to 39.60 Hong Kong dollars (3.56 euros), while the Hong Kong Stock Exchange opened with a gain of 0.39%.

In addition to these movements, the mood settles while the Greek case relaxes: Europe Thursday promised a new plan to save Greece from bankruptcy and avoid contagion to the entire euro area or the rest of world, but kept up the pressure to Athens in exchange for adopting an unpopular austerity program.Greece, it has reached an agreement with international donors on the final details of a new austerity plan, whose adoption in parliament expected next week will determine a second aid plan to avoid bankruptcy the country.

The earthquake in Japan will cost 145 billion euros

The earthquake and tsunami of March 11 in Japan have caused direct damage estimated at 16,900 billion yen (147 billion euros), said Friday the Japanese government. This sum corresponds to the destruction suffered by the infrastructure, homes and businesses of northeastern Japan, devastated by an earthquake of magnitude 9 and a giant tsunami that killed more than 23,000 dead or missing.

The government had previously estimated the damage in a range between 16,000 and 25,000 billion yen (139 to 217,000,000,000 euros).