World Articles

Nuclear power still has a bright future ahead. Yukiya Amano, head of the Agency for International Energy Agency (IAEA), is convinced. This is also in Japan, Fukushima, the scene of the worst nuclear catastrophe since Chernobyl, he recalled. "It is certain that the number of nuclear reactors will continue to rise, although the pace will not be as fast as before," he said.

After the catastrophe of Fukushima, Germany and several European countries, including Italy, Austria, Belgium or Switzerland, opened a debate on whether to continue or not to develop nuclear power, some of them have even set dates for the cessation of construction of new plants. But across the world, the challenge of nuclear power is not dominant.According Yukiya Amano in fact, "many others think they need nuclear power reactors, including the fight against the emission of greenhouse gases and global warming." Remarks which echo those of the French Minister of Economy, Eric Besson, who said in late May that "our world can not do without nuclear energy in the XXI century". And list: "Barack Obama has reaffirmed that there will be no suspension of nuclear power in the United States. China and India are launching major programs to meet their energy needs. And Europe, Great Britain, the Czech Republic and Bulgaria are continuing their efforts. "

Banking on security

If the development of this energy must continue, it will not happen without conditions, however, said Yukiya Amano."It is important above all to ensure the safety of nuclear facilities," he insists.

In Japan, nearly 36 of the 54 reactors that account Archipelago are currently halted because of the destruction caused by natural disasters or because they have not been reactivated after a routine maintenance, as a precaution. Favor a gradual reduction of nuclear, Prime Minister Naoto Kan has imposed tests of resistance to natural disasters and other risks before any recovery paydayloans. "I think it is wise that the country satisfies the safety of its nuclear plants after the accident at Fukushima Daiichi," acknowledged Yukiya Amano.

In Fukushima, "the prospects are good"

The head of the IAEA, wearing protective clothing against radiation, had also made Monday at the site of Fukushima for the first time since March 11, the day the plant was heavily damaged by the earthquake and tsunami. "Looking at the site, work is progressing in a very regular basis," he was glad. "So many people work with passion that I feel that the prospects are good," he added.

The Japanese authorities said last week be on track to regain control of the plant heavily damaged. However, they warned that full remediation of the site would take more than a decade. The operator of the plant rugged, Tokyo Electric Power (TEPCO), already expects to achieve cool the reactors and fuel to keep the temperature below 100 degrees Celsius by January."I told the Prime Minister that the IAEA can help Japan because we have the knowledge and experience required for decontamination and management of nuclear fuel melted or worn out," said the head of the agency.

Last June, the IAEA has criticized Japan's reaction after the accident, especially not for having implemented the agreement to give assistance provided by the agency in case of nuclear accident. It provides for cooperation between States and the IAEA to organize aid, safety and communication as appropriate.

ALSO READ:

"Eric Besson:" Nuclear power, a choice of reason "

"Nuclear power: the Parliament points out the weaknesses French

"" The nuclear power plant safety is not negotiable "

"SPECIAL: Japan devastated

Business leaders employing between 250 and 5,000 employees and producing between 50 million and EUR 1.5 billion in revenue, also called medium-sized companies (ETI), are confident. According to the first barometer of medium-sized companies conducted by Ifop on behalf of PricewaterhouseCoopers (PwC), 84% of managers are particularly optimistic about their companies.

They are, however, that 56% said that their morale is good when they are asked about the international situation. And 48% share this view when they consider the French economy. "More companies are international, they are more present in Europe and Asia, their leaders are more optimistic," says Bernard Gainnier, partner in charge of developing the audit firm and PwC Consulting.

Sign of good health, the main activity indicators are rising.Whether it's sales (62%), investments (44%) or the order book (43%). Nearly two-thirds of companies plan to hire in the next four months. Those employing more than 800 employees plan to hire 26 people. And over a third of its capacity will increase recruitment.

For control of the tax shield

Despite these positive signs, one in two managers said that his company's growth is constrained by taxes, either in the form of payroll taxes or taxes. 48% guarantee to be disabled by the price of raw materials. More than a third lack of visibility on its business. This figure reached 50% in the financial, technology and entertainment.

Nearly four in five managers believe that governments do not realize enough effort to promote the development of their businesses.They are calling for a legal and fiscal stability. But they are supportive of the measures on the taxation of wealth proposed by the government in May: 62% say that the possibility of being exempt from the TFR is a good idea. 56% say that removing the tax shield is a good measure. In contrast, 78% condemned the increase in transmission costs. Logic, as members of the founding families and leaders often hold the capital of such company.

Two regional leaders of Lidl Ile-de-France – Nord were placed under judicial supervision. They are suspected of discrimination in hiring, reports Le Parisien. They have ordered the makers of their 70 stores not to recruit persons of foreign origin in residence with "privacy and family life." A woman dismissed on this ground a complaint. The trial will be held August 18. The accused may three years in prison and 45,000 euros fine.

Refuse these cards have been living as a principle in the network Ile-de-France – Nord "at least six store managers will spread to the investigators," said Le Parisien. The staff representative UNSA, Fatiha Iraki, would have met "some thirty CV repressed," she told the newspaper.Lidl Why would he conducted such a wage policy? Residence cards "cost several hundred dollars per year per employee," said the steward.

Lidl's lawyer denies the charges: no guidance was given. There are many foreign candidates in the regional management, it is normal that some owners do not see themselves hired, he explains.

From our correspondent in London

Despite a series of desperate measures taken last month to try to save the company, Southern Cross, the largest group of nursing homes in Britain, will have to end its activities. The company is in a position of near bankruptcy and will have to transfer all of the 752 homes it had to other management structures. Agreements are already being negotiated for a third of them. The listing of the group Southern Cross was suspended Monday for the London Stock Exchange.

An announcement has angered unions and associations for the protection of older people, worried about the future of 31,000 residents and 43,000 employees of the group.The bankruptcy of a private operator managed by investment funds of the City is also very bad news for the government to David Cameron, the reform of public health plans to provide a much greater role to the private sector.

Southern Cross tried last month to set up a restructuring plan which included the sale of hundreds of homes and the deferred payment of a quarter of rents for 752 homes, but these efforts have not been sufficient.

The magnitude of the crisis had forced the Prime Minister to take a stand last month. David Cameron was first started by saying that the state did not intervene in a private matter, but ended promise that he would do everything to ensure the situation of pensioners affected.A spokesman for Downing Street said Monday that no retiree "does homeless" because "there are currently about 50,000 places in the country" in nursing homes.

Reduced spending

The fate of Southern Cross also challenges the rapid privatization of the medical sector and assistance for the elderly in Britain for twenty years, a trend initiated by the Conservatives but pursued by Tony Blair. More than two thirds of homes in the country, many of which provide a public service, are now managed by private companies. The quality of their service is also criticism since private retirement residence with seven scored "poor" or "inadequate" in the inspections, said the Financial Times.

The cause of the collapse of Southern Cross is quite simple.The group had signed leases with annual increases of 2.5% guarantees but finds himself in is at odds because its major customers, municipalities and communities, reduce average spending of welfare benefits by 10% year, due to the combined effects of losses due to bad investments during the financial crisis and the massive budget reduction plan launched by the government Cameron.

This is the unfortunate consequence of a strategy set up by Blackstone, the investment fund that took control of the group in 2004. The fund wanted to increase the financial profitability of the group by selling its stock of homes, at a time when the UK property market was in a bubble.

The Cac 40 could string together a fourth consecutive session bullish. When a new day begins crucial for Greece, the Paris Bourse continued its prudent mini-rally started Monday – the last three meetings, the Cac 40 gained almost 4%. The index featuring Paris, ironed the day above 3900 points, opened on Thursday, up 0.33% to 3937.26 points. It has long hovered around 3930 points this morning, and won and 0.19% to 3931.70 points in mid-session.

At the London Stock Exchange, the FTSE-100 gained 0.68% to 5895.84 points and the Stock Exchange Frankfurt, the DAX 30 in advance from 0.07% to 7299.52 points.

Yesterday, the Greek Parliament adopted the first two parts of the austerity plan intended to avoid the financial ruin of Greece. This had the effect of propelling the Cac 40 in excess of 3900 points.This afternoon, members of Greek determine in detail the cost-saving measures and privatization to engage in Greece for the next four years. But on Thursday, the progression of CAC 40 may be more limited than ever, after the IMF expressed concern about a failure of the United States.

On the macroeconomic front, several indicators punctuate the trading session:

– After declining 1.4% in April, consumer spending fell again in May by 0.8%.

– The public debt increased by 54.9 billion euros in the first quarter from the end of last year, to $ 1.6461 trillion, or "approximately" 84.5% of GDP (GDP).

For the euro area, a first estimate of inflation in June was announced at 11 am: it has displayed steady at 2.7%.For June, analysts polled by Reuters on average expected a slight acceleration to 2.8%.

Finally, the United States, two statistics will be released today: requests for weekly unemployment benefits (1430) and industrial activity in the Chicago area in June (15.45).

On the corporate side, as since the beginning of the week, bank stocks react positively to approval by the Greek Parliament's austerity plan. BNP Paribas takes 1.21% to 52.63 euros, gaining Natixis 1.82% to 3.41 euros, Societe Generale advance of 1 no faxing pay day loans.03% to 40.23 euros and Credit Agricole rose 0.44% to 10, 21 euros.Yesterday, they gained 1% to 2%.

Carrefour: -1.26% to 27.75 euros; Casino: + 0.03% to 64.62 euros

In the struggle that pitted him against Carrefour in Brazil, Casino raised its stake in the Brazilian distributor Grupo Pao de Acucar by 37% to 43.1%.

In addition, the Colombian subsidiary of Casino, Exito, will conduct a capital increase of $ 1.4 billion to buy the Uruguayan subsidiary of Casino for $ 746 million.

LVMH yielded 0.49% to 121.90 euros shortly after noon.The European Commission approved Thursday the French luxury group LVMH, headed by businessman Bernard Arnault, to take control of the Italian jeweler Bulgari-watch, considering that the transaction would not raise competition concerns in Europe.

Pernod Ricard: -0.29% to 67.96 euros

The world number two wine and spirits sells its shares in Georgian society Georgian Wine and Spirits, an operation that involves small amounts according to a spokesman for the world's second largest wine and spirits.

EADS: -0.33% to 22.9 euros

The airline American Airlines is negotiating with the European aerospace group Airbus and Boeing to purchase at least 250 aircraft, an order worth approximately $ 15 billion, according to the Wall Street Journal.

Axa: + 1.05% to 15.42 euros

The insurer will invest 500 million euros in its partnership with the Chinese bank ICBC over the next 5 years.

Gecina: + 0.02% to 95.54 euros

The land was made yesterday two new asset sales, with the amount of its trade-offs to 559 million euros at end June

EuropaCorp: + 2.85% to 3.97 euros

The company production and distribution film Luc Besson has suffered a net loss of 30.2% million for the year ending March 2010 to 2011.

Groupe Partouche (0.75% to 2.67 euros) recorded in the first half of its 2010/2011 financial year lagged net income down more than 30%.

Beneteau (2.27% to 14.87 euros) will publish its revenue for the third quarter after the close of trading.

U.S. markets open slightly higher on Monday after a sharp decline Friday. Leaded by the accumulation of signs of slowdown in the global economy, the Dow Jones closed down by 1, 42%, to 11,951.91 points. The Dow Jones gained 0.35% to 11,994.07 points, the Nasdaq ahead by 0.40% to 2654.17 points and the S & P 500 rose 0.35% to 1275.37 points.

Like doubts about the financial situation of Greece weighing on European markets, U.S. investors should not however find a frank optimism as the Obama administration does not provide a convincing response to the U.S. debt.Hence the nervousness on Wall Street recorded, for 6 weeks, all finished in the red.

No waiting indicator

In the absence of major macroeconomic indicators and publications from the companies, markets keep an eye on the ongoing discussions about whether or not to raise the debt ceiling. From this point of view, the main concern is the possibility in the coming weeks, the U.S. can not cope with effect from 2 August to some of their repayment obligations, if the cap was not raised.

Side currency, the euro lost some ground against the dollar Monday in a market without much direction still hanging on the progress of discussions between EU leaders, who are struggling to find agreement on how to continue to help financially Greece.MP in the afternoon in Paris, the European single currency was worth 1.4379 dollars against 1.4348 dollars on Friday night.

On oil markets, prices started to fall Monday in a cautious market that awaits the decisions of Saudi Arabia on a possible increase of its production. Around 24:10 in Paris, a barrel of Brent North Sea crude for July delivery was $ 118.66 dollars on the Intercontinental Exchange (ICE) in London, giving 12 cents from Friday's close. In electronic trade the New York Mercantile Exchange, a barrel of light sweet crude (WTI) for the same period lost $ 1.19 to 98.10 dollars.

As for values

Banking supervision

Financial stocks could benefit from an article by the financial weekly Barron's pay day loans.The newspaper said the major banks like Bank of America (+0.29% to 10.88 dollars), Citigroup (0.71% to 38.19 dollars), Goldman Sachs (0.96% to 137, $ 23), Morgan Stanley (0.71% to 22.85 dollars) and Wells Fargo (1.26% to 26.61 dollars) are undervalued on the stock market and could see their progress as 25% of the next year, says the financial weekly Barron's. These shares are currently traded at levels close to or well below their book value, the magazine added.

Boeing: 0.80% to 73.27 dollars)

The will sell six Boeing 777-300ER to Thai Airways, which will also acquire eight Boeing 787 leased from ILFC.

Allied World Assurance: -1.88% to 56.98 dollars

The group will buy Transatlantic Holdings for $ 3.2 billion in shares, giving birth to a group of insurance and reinsurance with an ever wider and greater implementation. Transatlantic Shareholders will receive 0.88 share for each Allied as they hold the equivalent of 51.10 dollars per share, representing a premium of 16.1% over the closing price on Friday.

Gilead Sciences: -1.42% to 39.66 dollars

The biotechnology company, world leader of HIV treatment, said Friday it received a subpoena to submit to the court documents relating to its manufacturing methods, quality control and distribution.

Blackstone: +0.12% to 16.62 dollars

The group and the specialist debt Avenue Capital talk with investors in order to raise five billion dollars to invest in bond markets, reports the Sunday Telegraph.

VF Corp: 12.23% to 103.03 dollars Timberland: 42.48% to 42.73 dollars

The group announced Monday the acquisition of the apparel brand Timberland outdoor sports for $ 43 per share and a total of two billion dollars. VF Corp. expects this acquisition will allow it to add approximately $ 700 million to its turnover in 2011.

On Wall Street, futures contracts on the index set are on the downside, the Dow Jones future lost 0.25% and the S & P 500 future bending of 0.33%. The opening of the session should be marked by a decline after the wrong numbers of job creation in the private sector in the U.S. in May, published yesterday by the firm ADP. These statistics had already weighed on the Dow Jones yesterday, which had thus ended down 0.34% to 12,248.55 points.

Among the statistics to follow this Friday, the unemployment rate in the United States in May is forecast at 8.9%, a slight drop of 0.10 point compared to the previous month. Moreover, employment in agriculture in May should show a marked decline from its April level.Economists expect about 125,000 to 150,000 jobs reported last month, against 244,000 in April.

The Fed does not intend to undertake new measures to boost the economy, according to Richard Fisher, one of its members. In an interview with the Wall Street Journal this morning, the president of the Dallas Federal Reserve believes that "the Fed has done its job" and that if necessary additional stimulus measures, "they must come from elsewhere" .

The U.S. Treasury will sell the 6% that still holds in Chrysler to Fiat. The Italian will thus hold a majority stake in U.S. manufacturer. And the state will pocket U.S. $ 560 million.

Short-term domestic concerns will not prevent operators to remain vigilant regarding the conditions for aid to Greece as part of a new plan, unveiled in principle this afternoon personal business card.

Wal-Mart, Walgreen's and VeriFone to follow

As for values ​​to be followed, one eye will be kept open on Wal-Mart, which holds its annual investor day.

The good results published yesterday by VeriFone Systems should provide a nice progression of the title. The figures exceeded the consensus.

Walgreen announced today, before opening on Wall Street, the level of its sales in May: they rose 7% to 6.08 billion, up 5.6% on a comparable basis.Remember that the title had been boosted on Wednesday by a recommendation by UBS improved, which initiated coverage on the purchase of the title, with a price target of $ 51.

Chevron announced late yesterday that four people died in the explosion of one of its refineries in Pembroke. A fifth victim was hospitalized in serious condition.

relaxation on raw materials

As for raw materials, the pressure falls. In this sector, investors await OPEC meeting next Wednesday, which could lead to a decision by the organization to increase its oil production. Despite the many demands and frequent recently, OPEC had refused to put the issue of increased production in its agenda, and has been for four years.The markets will also tend ear to New York, where the French agriculture minister, Bruno Le Maire, must comment on speculation in commodities, at 18 pm (Paris time).

ALSO READ:

"American debt: the bad blood between Obama and Congress

"OPEC could decide to increase production

If humanity continues its momentum, it will consume in 2050 three times more raw materials than today. "Far beyond what is bearable." The warning is clear. And it does not derive from Lester Brown, president of Earth Policy Institute, which multiplies the books for decades on the depletion of the planet or the WWF or Greenpeace, but the UN.

In forty years, some 9 billion people consume 140 billion tons of minerals, hydrocarbons and biomass (wood, crops, livestock), as reported by the UNEP (United Nations Environment). Or 16 tons of natural resources swallowed each year by each person on the planet."Policymakers and the general public are still not convinced of the absolute physical limits on the amount of resources available to humanity," the authors note, a dozen experts led by an Austrian and a South African.

Doing more with less

To avoid shortages and social tensions and geopolitical they would generate, the world must "do more with less." Sustained growth requires massive investment in "technological innovation, financial and social." One difficulty lies in the considerable disparity in the exploitation of raw materials. An inhabitant of an industrialized country consumes an average 16 tons per year, four times more than Indian.

In rich countries, the differences are equally impressive.A consumer of Qatar, Australia and the United States swallows 40 tons of natural resources per year when a French, a German or an Italian uses about 15 tons. These figures do not reflect the reality only partially, note the rapporteurs of the UN. For a tonne of copper extracted in Chile will be charged to the consumer in their calculation Chilean even if it is used to manufacture a product sold in China or Europe. These methodological weaknesses therefore do not change the risk of global depletion of natural resources. Even if industrialized countries were able to halve their consumption of raw materials by 2050, not living to 8 tons, and that developing countries joined this level without exceeding the total amount to 70 billion tons, or 40% more than today.This scenario (No. 2 in the graphics) would be accompanied by a doubling of greenhouse gas emissions, a path inconsistent with the objectives of the international community in the fight against global warming.

Amid these grim prospects for the environment, the UN report uncovers some reasons not to despair. The global trend towards urbanization is paradoxically supports better use of natural resources. A densely populated area per capita is more economical building materials, energy and transportation, the experts argue.

Another reason for optimism, emerging skip some stages of development by adopting technologies directly or models that consume less raw materials, how they embraced the mobile phone have not finished building the fixed telephone network.

The euro has dropped by nearly 5% in a week. Such depreciation on the foreign exchange market in such a short time is rare. If some investors have been illuminated reap gains from the sacred, others had to lose a lot!

The euro rose against the dollar over from 1.49 to 1.42 in one week. (Chart from the trading platform of Saxo Bank)

In a quiet session ahead, the CAC 40 a break on Monday, after climbing from 1.33% Monday, following good U.S. job figures released Friday. The stock index opens down 0.49% at 4037.91 points.

On other European financial centers, the Dax in Frankfurt Stock Exchange is 0.41% to 7461.35 points and

With the exception of the Tokyo Stock Exchange, the Asian financial centers evolve upward Monday.

On the macroeconomic front, Bank of France (BoF) provides a first estimate of growth of 0.5% in the second quarter of this year. BdF anticipates a 0.7% gross domestic product for the first quarter.

The business survey from the Bank of France reported a moderate increase in activity in industry in April.The business climate indicator in industry decreased by three points to 107 while in services it has dropped one point to 102.

Bank stocks follow

Bank stocks will follow, while the financial situation of Greece worried, so much so that a new EU aid is getting ready by 2012. After two consecutive sessions of steep declines that saw him rise from 1.48 to 1.43 dollar, the euro starts again from the front Monday against the greenback and quoted at 1.4380 dollars.

Moreover, Eurofins Scientific will release its first quarter results, Vilmorin, its turnover in the third quarter of fiscal year 2010-201.

Transfer rumors Lafarge and acquisition for GDF Suez

Technip won a contract worth approximately EUR 55 million from Statoil for the development of the Vigdis field NE, located in the Norwegian Sea.The contract includes the supply of pipes to be installed by mid-2012 in water depths of 220 to 310 meters.

CNP Assurances reported Monday a net profit in the first quarter down 3.6% to 270 million euros, affected by a strong contraction in sales (-14.1%)

Lafarge and Anglo American want to sell 600 million pounds (680 million euros) in assets to their new joint British company, whose creation was announced last February, the Financial Times.

GDF Suez wants to have a pole there and energies reouvelables consolidate its ten subsidiaries producing green energy in France, according to Les Echos.Also according to the economic daily, the group would be interested in the Italian Sorgenia, 52% owned by the holding of the CIR De Benedetti family and 45% by the Austrian Verbund.

The passenger traffic of Air France-KLM jumped 23.1% in April, an increase that is "not significant" compared to April 2010 during which the European sky was blocked by the eruption of an Icelandic volcano, said Monday the airline group. In the past month, Air France-KLM carried 6.36 million passengers (+28%).

The credit insurance group Euler Hermes has done in the first quarter 2011 net income rose 58.2% to 75.3 million euros thanks to the continued recovery of the global economy observed in 2010. Turnover increased 7.6% to 544.1 million euros.

Numericable could announce the launch of a mobile telephone within 40 euro on Wednesday as well and hunt on the land of the Free (Iliad). The mobile virtual network operator (MVNO) that rents the network Bouygues Telecom is the origin of the site larevolutiondumobile.com. The group has denied wanting to launch an unlimited mobile plan.

Oil prices appear to rise

Oil prices were on the upside Monday in electronic trading in Asia, resuming after the sharp drop last week, dealers said.

In morning trading, a barrel of light sweet crude for June delivery gained 1.18 dollars to 98.36 dollars. That of Brent North Sea also June delivery gained 52 cents to 109.65 dollars.