Avtovaz does not leave this market segment to competition from China or India. Granta is sold 220,000 rubles (5,600 euros). A price that is far below that of a Logan entry-level, hence the idea of the ultra-low-cost.

The rest is a matter of industrial process and sharing platform, the concept dear to car manufacturers and enabling them to lower their production costs.The Granta benefit from the platform of the Kalina, a model launched in 2004 which has not met with great commercial success. "Renault has helped teams Avtovaz to improve the quality of its models," said a spokesman for the French group. In addition, Avtovaz build its new city (of a size comparable to a Twingo) in its factory in Togliatti, 1,000 kilometers from Moscow, where labor costs remain low.

Tomorrow, the export?

For the Russian manufacturer, it is not missing the boat. This will be the first model launched by the "new" Avtovaz. However, the group really need to burnish his image and give it a quick facelift.

The Granta is primarily intended for the Russian market. But, like other Lada, it may be exported. "Renault will use this model was not defined e ', do you know in French. Everything is possible.Includes entry into the Western market for a new model even cheaper than Logan (7,600 euros in entry-level, excluding promotions).

Through Avtovaz, Renault approaching the threshold of new symbolic price of 5,000 euros which had underpinned the launch of the Logan, they are not reached by the group. For now, only few Chinese manufacturers and Avtovaz succeeded. In other words, there is no new car, responding to Western standards to 5.000 euros. The Granta could come fill this gap.

Other models of the group will soon be built at the factory in Togliatti. Beginning in 2012, adapted versions of Logan Lada station wagon and van will be manufactured, followed by Nissan, Renault and then two. A location of production that overcomes the prohibitive tariffs imposed by the Russian government.

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But the horizon may darken in the coming months. "We expected a good performance of consumption with purchases made ahead before stopping the car scrapping and entry into force of up 2 points from VAT, says Jesus Castillo, Natixis.In addition, new restrictive measures and labor market will always influence the damaged second half. "

Social unrest

Karstadt stores, whose most famous department store KaDeWe in Berlin, however, have been awarded last June to the investor Nicolas Berggruen associated with group BCBG Max Azria fashion that takes 20% stake. The pair pledged to resume all their 120 stores with 26,000 employees.

However, the sale is not finalized yet: it remains in effect suspended from a rental agreement negotiated between, on one hand, the two prospective owners and, secondly, Highstreet, which owns the Karstadt department stores walls. According to Dow Jones Newswire, the period of exclusivity granted to Berggruen expires on August 10 but would extend the financier.Borletti plans to oppose it by sending a letter Thursday to the director of Karstadt.

"The best offer" by Borletti

The Italian investor, Maurizio Borletti is the boss, so take advantage of these difficult negotiations to make its own offer, which according to him, is "the best deal for all parties." The group proposes to inject 100 million euros in department stores online payday loans. It undertakes not to dismantle the company and reinvest the profits and dividends for five years.

Borletti also promises not to close any stores in the short-term and 'preservation of employees' basic ':' no new termination, no increase in hours worked or pay cut, "he assures.

In addition, Borletti holder of 2% of capital Highstreet since 2007, says he would not need to renegotiate the rent.

Founded in 1860, the family group Borletti invested exclusively in department stores over the past five years. It has acquired shares in 2005 in the Italian department store La Rinacente and has invested the following year, in the French department store Printemps.

For its part, the union Verdi, which had welcomed the offer of Berggrün, said that the proposal Borletti arrived so late was not serious. "Mr. Borletti knew the deadline was the end of May, said a door-paroel Verdi at Berliner Zeitung.If he wanted to make a serious offer, he would have been able to do so. According to the German daily, including Verdi doubt that Borletti be able to make 100 million euros announced and suspected to be primarily concerned with Italian luxury stores Karstadt.

Elsewhere, the same trend. The London Stock Exchange, which opened down 0.37%, is now up 0.15%. The DAX index of the Frankfurt Stock Exchange, which had also started the session on a decline of 0.27% is now 0.39%. The Madrid Stock Exchange, where banks are under pressure as explained in the El Pais newspaper in its edition today, regaining ground with a fall of 0.16% against -0.54% in early trade.

The waiting game surrounding the publication of results of stress tests of European banks calls for caution investors. On the currency markets, the euro back a bit against the dollar, under $ 1.29.

Volatility will be the point common to all European trading sessions this Friday.

Asian markets have been chosen more strongly green this morning. Yesterday, U.S. markets have done a great meeting at which time the Dow has gained almost 2%, relatively insensitive to the announcement of a surprise increase in weekly unemployment registration.

Consumption of French decline

In terms of macroeconomic statistics, the session looks very calm. No major indicator is expected in the United States.

In France, the French household consumption of manufactured goods fell 1.4% in June after the previous month was supported by purchases of televisions before the World Cup, according to figures published by INSEE before the opening markets.Throughout the second quarter, it shows a decrease of 0.9% after falling 1.9% on the first three months of the year. Analysts on average expected a rise of 0.2% in June

INSEE also believes that the request to industry has increased significantly in the second quarter but is expected to decline in the third. The balance measures the views of industrialists on the past evolution of aggregate demand was 9 in the previous survey in April to 17 in July, and 4-14 for foreign demand.

In Germany, the business climate has improved significantly more than expected in recent weeks. The Ifo index rose to 106.2 against 101.2 in June (revised from 101.1 in estimating intials) last month. Economists and analysts had expected decline to 101.6.

TF1 jumped after its results

The stress test, however, occupy the banking sector.BNP Paribas (-0.60%), Societe Generale (-0.84%), Credit Agricole (-0.36%), Natixis (BPCE. -0.39%) or Dexia (-0.39%), remain cautious.

Moreover, the markets will again this session to analyze several quarterly publications:

TF1 (4.83% to 12.27 euros) announced before market advertising revenues up 11% in the first semester for a total turnover of 1.28 billion euros, above consensus. Net income group share was 74 million euros over the period. The objectives are significantly revised upward with a turnover in 2010 rose by 7% instead of 4%.

STMicroelectronics (-2.30% to 6.58 euros) reported Thursday a profit above expectations at 18 cents per share, with sales up 27% to $ 2.53 billion.Analysts on average expected a profit of 14 cents per share and a turnover of 2.513 billion dollars.

Pernod Ricard (-1.56% to 63.11 euros) a statement on Thursday its forecast annual operating profit thanks to the improved economic environment and its position in emerging markets. Its turnover in 2009-2010 emerged, up 2% on a comparable basis.

Ubisoft (0.65% to 7.02 euros) issued a turnover up 94% in the first quarter of 2010-2011 to 161 million euros and confirmed its objective of a sales draft 160 million for the remainder of the year.

BioAlliance Pharma (5.29% to 5.77 euros) announced a record turnover of 15.2 million euros in the second quarter against 1.5 million a year earlier, after recording in April in U.S. Loramyc, headlight treatment of fungal infections in patients with oral cancer or AIDS.

As for ads, Alstom (1.80% to 37.83 euros) said it had won contracts valued at about 450 million euros for the construction of two units for a combined cycle power plant in India.

Air Liquide (-0.40% to 86.43 euros) announced Friday the signing of a new contract with Russian steelmaker Severstal for investments worth 50 million euros in total.

Legrand (-0.61% to 25.06 euros) Thursday announced a takeover offer for Indo Asian Switchgear India, where he produced nearly 4% of its annual turnover after the acquisition.Indo Asian Switchgea aims for 2010 sales of more than 35 million euros.

Maurel et Prom (+0.24% to 9.42 euros) announced Thursday it had increased to approximately 70 million euros the amount of its issuance of convertible bonds to five years following the full exercise of the option overallotment.

"Added to the fact the World was going" all digital "in Brittany and Pays de la Loire, which induces additional purchases of new TVs and Freeview decoders," said INSEE. On the other hand, auto sales have plunged, stabilizing in May (-0.1% against -9.6% in April).

Fabrice Tourre himself "surprised" and said he never told the ACA, the media company that acted as an agent of selection underlying portfolio of 07 Abacus AC-1, that Paulson & Co take share or buying a long position in the Abacus. "I do not remember the exact words I used at that time," admits Fabrice Tourre but he claims to have suggested to the ACA, Paulson could be involved in the transaction without being an investor. "If the ACA was not insured on this point, she had every opportunity to clarify the subject."

"We lost money too"

Fabrice Tourre said he never intended to mislead "two of its two major customers, the ACA and the German bank IKB No checking account payday advance. "When Goldman Sachs told investors that ACA had selected the titles referenced in Abacus, this statement was absolutely correct," said Fabrice Tourre.

Contrary to qu'assurent members of the Subcommittee investigation ongoing U.S. Senate, the transaction Abacus, "was not designed to fail". He said Goldman Sachs had no economic interest in seeing it fail. "We lost money too," says he, advancing "an amount exceeding 100 million dollars."

A polluted river

In his testimony, Fabrice Tourre appreciates being able to defend itself against these "false accusations". "These past weeks have been difficult for me and my family. I have been the subject of unfounded attacks on my motives, "he says.

Things get tough for him, as for the other leaders agreed Tuesday. In opening the hearing, Sen. Carl Levin, chairman of the subcommittee, did not mince his words regarding the Goldman Sachs "who took advantage of the collapse. "As the polluters who put the poison into a river, they have integrated the risky products in our financial system and polluted," he acknowledges. He does not forget to pass the role of credit ratings agencies "who with their triple A have to believe that the water was drinkable.

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Last year, its turnover reached 915 million euros, down 0.9% compared to 2008. This development has been permitted by opening 26 new outlets. At comparable number of stores, sales fell 6.8%. If it was buckled, this sale would mean the end of the adventure Carrefour Portugal, where the group was present since 1990.In July 2007, the group had already sold for 662 million euros twelve hypermarkets, whose turnover reached 530 million euros so.

These products have been delisted by the CNAM chosen according to studies by the High Authority of Health has estimated that they were ineffective.The purpose of the maneuver is to save 150 million euros for Social Security, while the latter should show a deficit in 2009 of over 20 billion euros cash advance america.

According to the director general of the French Mutuality, Jean-Martin Cohen-Solal, interviewed by Le Parisien, "whether the drug is effective and is reimbursed correctly or it is not and shall not be refunded. Mutuality French has also decided not to reimburse drugs reimbursed 15% by the social security, which would save 80 million euros each other.

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Apollo and the ISP should take control of Pechiney plants producing aluminum, which represents approximately 70 sites and over 11,000 employees including 5,000 in France. Negotiations should poursuivrent few weeks for a signed agreement in April.This new organization would be in place end June

Create a champion of aluminum

The aluminum activities hitherto neglected by Rio Tinto. In 2009, Alcan EP saw its sales drop 39% payday loans. Eventually, Rio Tinto could even get out of this business by selling its entire remaining stake in Apollo, or via an IPO.

Meanwhile, the government has high ambitions for Alcan EP. With investments of ISP, the state wants to make it a leading French, European and even global aluminum. A goal goes through restructuring. Negotiations are already underway on some sites and departures are expected in Saint-Florentin (Yonne) or New Breisach (Haut-Rhin) Voreppe (Is?re) or Issoire (Puy-de-Dome). In total, several hundred jobs would be in the spotlight.But the proposed takeover would be based on a commitment to maintain the sites.

In addition, acquisitions outside Europe are also on the menu. The headquarters would be based in France. This new scheme does not exclude a future introduction of the group at the Paris Stock Exchange under the name of Pechiney.

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New public

With its controller "Wii Remote" Satoru Iwata, CEO of Nintendo, has attracted a new audience of young women and people reluctant to play.The controller of the Wii helped make it easy to use video games. A little more than three years after its launch, the figures speak for themselves: the console, Nintendo has sold nearly 70 million units worldwide, as many as the combined sales of PlayStation 3 added to those of Xbox 360 Microsoft.

For nearly a year, Sony and Microsoft are developing projects to retort to the Wii, the graphics less advanced.

From June 2, 2009, Sony announced its response. "Our power controller is more precise than all other existing systems, which is essential for games in high definition. For the master controller has an accelerometer and a gyroscope. Depth is also determined with precision, with the camera placed above the screen, then told the Figaro, Kaz Hirai, head of the gaming division of Sony.At that time, the firm Nippon would propose his joystick in the spring. It took a little longer, especially to incorporate the side of the camera (which recalls his playing "Eye Toy" for PS2) a sound recording instant payday loans . "Experiments in Augmented Reality" are thus promised to the players for PS3. Thirty-six studios and game publishers, including Activision, Disney, Sega, THQ, Ubisoft and Warner, will offer programs for this controller. The studios Sony, meanwhile, will launch 20 games by 31 March 2011.

The offensive of Sony, with the supplement to "augmented reality", is decisive in the fight which is tied with Microsoft. For the holiday season to season, which begins in November in the U.S., the Xbox 360 is expected to enrich the "project Natal.Microsoft wants to happen and joystick control games and propose a system composed of an infrared camera and a system of speech recognition. "The joystick is you," stated Don Mattrick, head of the gaming division of Microsoft, with last year's project to mark the spirits. In June, in Los Angeles in the next world fair of video games, the software giant must provide details on price, launch date and games for the Natal project.

Revenge of the 3D

However, Sony will release a new card to boost sales of PS3: 3D. Indeed, its console will be enriched in the second half, two programs for relief – which may be retrieved on the Internet for holders of current consoles."Thanks to the reader on Blu-ray built into the PS3, the console will offer games in relief, then a second software enables you to watch movies in 3D," said a spokesman for Sony in France. It is an advantage, including the Xbox 360. Because Microsoft has bet on HD-DVD finally abandoned, for its home console that incorporates a simple DVD player. The PS3 might as well take his revenge and become, according to Strategy Analytics, in the end, the next-generation console's best selling world.