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While the Asian stock markets declined sharply on Monday morning, the financial markets in Paris have also been very worried. The CAC 40 ended the session on a drop of 0.40% to 3486.33 points.

Even in Germany, where doubts Dax Frankfurt Stock Exchange ended down 0.52% len at 6009.11 points. The London Stock Exchange also closed the day on a drop of 0.21% to 5148.28 points.

The markets are cautious before the release of stress tests on European banks on Friday. The wait also dominated by the rise of publications of results in Europe and the United States.

The macroeconomic environment also remains uncertain especially overseas. Chinese Premier nonetheless sought to reassure investors on the country's economic growth."Everything goes as planned," he said Monday.

On the macroeconomic front, the deficit of the balance of current accounts in the euro area widened in May to 5.8 billion euros against 5.6 billion in April, according to figures from the European Central Bank.

On the currency markets, the euro resists and remains above the $ 1.29 mark Monday morning (0.09%).

Banking and auto bad posture

Four days before the release of stress tests, the values remain very bank surrounded. Societe Generale advance 0.56% after losing more than 5% last week, and Credit Agricole st wins 1.15%, BNP Paribas and Dexia 1.48% 1.43%.

The car values are under profit taking in the image of Peugeot -0.35%) and Renault (- 0.13%).

Despite a sharp rise in turnover (+22% to EUR 144.4 million), Eurotunnel reported a net loss of 44.8 million euros, up more than 36 million euros over the same period in 2009. Contracts awarded on the cons-performance: the action loses 2.86% to 5.8 euros and is on track to record its fourth consecutive decline. At this time, Eurotunnel has lost more than 7% in four days.

This afternoon it was the turn of Edenred, two weeks after its IPO, Guyenne et Gascogne, HF Audika Company and to disclose their turnover in the second quarter. Soitec publish its turnover in the first quarter.

GDF Suez is preparing a cash offer of 6.4 billion pounds (7.6 billion euros) on the British electricity group International Power, confirming a report in The Mail on Sunday.In previous discussions about a reconciliation between the two groups had lasted several months before a halt in January, the newspaper said. For its part, International Power shows a net increase of 9.38% to 346.50 pence in London Bours.

BMB Group, an investment company in Brunei, has denied information from the Sunday Times that she had planned to bid for Club Med 800 million euros. BMB Group, which manages funds for the family of the Sultan of Brunei, have the support of three of the four major shareholders of Club Med, according to British newspaper, citing unidentified sources close to the situation.

At the Salon of Farnborough (South London) that opens Monday until July 25, EADS should reassert its confidence in its chances of winning U.S. tanker contract for Boeing cons.The parent company of Airbus is ready to strengthen the United States for eight billion dollars.

The Partouche group will make a capital increase of approximately 100 million euros to reduce its debt and improve financial liquidity of the group of casinos. The subscription price is set at two euros per share while the subscription period will run from July 20 to August 2.

ADP announced that its passenger traffic rose 2.3% in June over one year. In the first six months of the year, traffic appears down 2.1%.

National Australia Bank (NAB) on Monday agreed with its Asian subsidiary Axa and Axa Asia Pacific (AAP) to extend until Aug. 31 offer of 11.5 billion dollars on NAB PAA.

Personal loans like these have to be repaid back within a time span of 15-20 days. This period can be extended a bit in case of emergency.

The hesitation should still be the centerpiece of the trading session in Paris on Tuesday. The price volatility in Asia this morning is scary but the return to green after opening indexes down should motivate operators. In particular, Tokyo, the Nikkei closed up 0.77% after having started the day down 1.14%.

Investors Parisian try to turn the page of a session that saw ACC closer Monday to its lowest level this year at 3332 points (-0.48%). Half an hour of opening, the CAC 40 index future rises from 0.39% to 3348.50 points.

These days, markets are not reassured by the mixed indicators published last week, the United States as in the euro area. Doubts over the speed of the global economic recovery weigh more on the morale of the market.In Europe, these fears result in volatility of the euro against other currencies, after falling throughout the morning against the dollar, the euro regains 0.31% to 1.2544 dollars around 7.35.

On Tuesday, the markets await the opening of Wall Street may choose to pursue. U.S. markets open again after an extended weekend related to the national holiday. The meeting will begin with the analysis of the PMI services which will be published shortly after the opening. Apart from this indicator, no other major news is expected.

Air France wants to save

As for values to follow, Air France (Air France-KLM), which showed a record loss last year, plans to cut 4109 jobs over the period 2010-2012 to meet the air transport crisis .

Areva should always be led by Anne Lauvergeon.According to sources close to the matter quoted by Agence France Presse, Nicolas Sarkozy has decided to maintain the group's boss at his post until the end of his mandate. Rumors had often reported the contrary.

Also in the nuclear site EPR Flamanville, led by EDF also suffer delays. An audit suggests a period of 24 months. EDF expected to make the announcement soon.

Lastly, investors would still react to the publication by Stephane Richard of France Telecom's strategic plan for five years. The operator also wishes to reach 300 million customers around the world to this date and hire 10,000 people by 2012.

End of turbulence for the advertising of France Televisions? The group's board decided on Tuesday morning to suspend negotiations with the consortium formed by Publicis and Lov St?phane Courbit, confirmed by France Televisions in a statement.

Discussions were already sealed since Frederic Mitterrand has reported an "ethical problem" for potential buyers. Jean-Francois Cope said his contribution to the debate by expressing support for the maintenance of advertising day after 2011, the date fixed by law to decide the future of advertising on France Televisions.The decision of the board of directors is therefore in the direction of the leader of UMP.

This decision takes into account "the substantial uncertainty surrounding whether or not to advertise before 20h," the statement said the leadership of France Televisions, which states that the "exclusive negotiations in progress is intrinsically linked to the assumption of suppression of advertising before 20 hours on the antennae of the group. "

A result in ahead of schedule

The management team at France Televisions has another reason to rejoice. According to the Tribune on Tuesday, she managed to exit the group's public accounts in 2009, making him reap a profit of 19.6 million against a net loss of 78.4 million in 2008. The performance is surprising in light of the deficit of 135 million originally budgeted. All indicators are also green.Operating income also goes a loss of 101.2 million to a profit of 68.7 million is one year. A result that the State had not expected before 2011 pay day loan lenders.

Net revenue available group also rose to 2.497 billion against 2.263 billion a year earlier. This result is explained partly by an 8% increase in advertising revenues for 20 hours (405 million euros), and secondly, by a government grant of 405 million euros expected to offset the stop advertising after 20 hours in 2009 which resulted in a shortfall of 383 million euros to France Televisions.

The cost of programs increases

The results show an increase in expenses of 3.2% to 2.45 billion euros. Since the cessation of advertising, France Televisions was indeed invest heavily in its production.The group would also step up its commitments in the sector of cinema

These new standards imposed on manufacturers led to an increase of 4% of program costs to 1.94 billion euros. The savings from the reduction of staff (120 positions at least 10,350) are not sufficient to compensate. Hence the current plan of internal synergy.

Confusion surrounds the departure of Carolis

These results sow disorder while rumors of departure of Patrick de Carolis at the end of his term in August amplified since Saturday. Alexandre Bompard, 37 years and current CEO of Europe 1 appears to be the favorite to take the head of France Televisions. His appointment could even intervene Tuesday on the sidelines of the meeting of the board of directors of France Televisions or Wednesday in Council of Ministers.The information is currently denied by the Elysee.

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Last week, young bloggers rubbed shoulders with fashion editors of major newspapers in the forefront of the parades of ready-to-wear in Paris. Appearing a few years ago, the phenomenon of fashion blogs, yet dispersed long ago, is being structured. Evidence of this trend, the arrival in France of U.S. website Glam Media, which proclaims itself the number one female audience coverage on the Internet, with 76 million unique visitors in the United States and 164 million worldwide through its declensions Great Britain, Germany and Japan.

Upon his arrival in France, he announced to start with two million unique visitors. Glam is an "object Web unidentified. He does not content itself but on its pages aggregates the blogs to which he refers by links.In France, it begins with a fifty partners, such as fashion trend or Betty's blog.

Half of the turnover

It covers topics related to clothing, beauty, luxury or entertainment female. With this reach, it sells for blogs concerned advertising space and retains 50% of turnover. "There is no real competitor. We are a kind of thematic superpertinent Google "tries to summarize Orianne Garcia, its director of marketing and communications. The famous founder of the site Caramail mails in 1997 heads the French branch alongside Jean-Pierre Levieux, CEO, founder of MSN France in 1996.

Brash.com for men

Glam Media was founded in the United States in 2003 by Samir Arora, 44, Net entrepreneur of Indian origin. After ten years at Apple, he founded several start-ups in California.Glam Media is defined as "a pioneering media vertical. Beside the site Glam.com female he created Brash.com for men fall 2008 and Tinker.com, a specialized search engine on Facebook and Twitter. Objective: to capture the audience of social networks booming.

The opening of the French subsidiary following a fundraiser for 50 million dollars. Other groups seek to federate the blogs. In France, the popular site Aufeminin.com began to incorporate in its pages. Some advertising agencies have started to commercialize this disparate audience to advertisers, as Bang Blog, a subsidiary of Publicis, which also has its consumer portal.

Several important changes will occur at the head of EDF. Piquemal Thomas, formerly at Veolia will be the new CFO. He succeeds Daniel Camus, now in charge of major international subsidiaries. The management of production, including nuclear power, for its part should be divided into two: engineering of a part – which would Herv? Machenaud, hitherto responsible for the Asia-Pacific branch – operating in the other. From Dalkia – the joint subsidiary of EDF and Veolia – Michele Bellon should take over from Michel Francony from ERDF, the transmission grid. For its part, Marianne becomes Laigneau HRD delegated. Finally, Andre Merlin will chair the supervisory board of both RTE, the transmission system, and ERDF.

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It's already Christmas in the Paris Bourse. At the close, the CAC 40 rose 0.76%% to 3905 points, posting its highest in a year. Yet Moody's has today reduced the debt rating of Greece from A1 to A2. The prospect remains negative.

In terms of economic statistics in France, the producer prices rose 0.2% in November according to Insee, against 0.8% in October. In one year, producer prices have declined by cons of 4.5%. La France has increased its emissions program debt in the medium and long terms for 2010 from 175 to 188 billion euros, said Tuesday the Agency France Tr?sor (AFT).

But investors were reassured by the information on resales of new housing across the Atlantic.

More information from 18 hours ….

"A real sense of justice," responded Thursday night Frederic Peltier lawyer EADS, reading the verdict acquitting the defendant in the general case EADS. "The victory of truth and right," said Olivier Gutka and Jean-Alain Michel, counsel for Noel Forgeard.

The Sanctions Committee of the Financial Markets Authority (AMF) has cleared in a 25-page document, the 17 leaders suspected of "breach insider" for selling stock options in March 2006 before the official announcement the delay of the Airbus A380 in June 2006. The private shareholders, Lagard?re and Daimler, are also exonerated. As for EADS, "the company did not breach its duty of information," insisted Fr?d?ric Peltier.

The most important case of alleged "failure" of insiders, known by the codename "0818 case" did "Pschitt" after three years of investigation.The Sanctions Committee found that none of the suspects had had access to inside information. Therefore, all the accusations fall.

"I'm very happy," said Noel Forgeard to his lawyers. Former EADS co-chair the Executive is considered as the only scapegoat. "He became the archetype of the offender financially. His name was offered as a sacrifice to public opinion, "responds a close. EADS has "welcomed" the decision of the AMF. For Louis Welsh, president of the European giant, the stakes were high. He arrived at the head of the group in July 2006 because of this case. He threw his whole weight into the EADS defense and accused persons.He was sent March 19, 2008 a note to the MFA in which he denounced an investigation "unilateral" approach and "surprising."

Last November, he again stepped into the breach. "I know each of the protagonists in this case. They are dishonest and not speculators. Imagine how they would have speculated about their own failure, "he said. Alain Flourens, an engineer passionate about his job, "will be able to think only of its aircraft.

Lawyers draw several lessons from this case. "This decision honors the Sanctions Committee. It demonstrates that it is an independent and impartial, "stated Olivier Gutka and Jean-Alain Michel. "This case proves that the contradiction must be implemented as soon as possible, ie before the notification of objections, that the investigation is not only dependent," says Frederic Peltier.In the future, defense lawyers want to present their arguments at the outset of the investigation "to avoid the truth of facts is truncated as was the case here."

The advocates were disappointed that AMF investigators have not heard from consultants McKinsey. They had been charged with a mission from December 2005 to June 2006 by Airbus to resolve the problems of industrialization of the A380. In their June report, they proposed solutions. They were confident

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The investment company Wendel has been repaid 467.5 million euros of debt. These funds come partly from the sale of hedging its securities Saint-Gobain and the rest of his own cash.

The group Wendel has 17.5% stake in Saint-Gobain, a French group of building materials and distribution. The sale of options on securities held in this building group he helped to collect 163.4 million euros immediately reassigned to prepayment. The 300 million being supplied by the treasury Wendel.

At the same time, the group Wendel reported a deferred bank debt of $ 1.231 billion. The debt, originally composed of two tranches, is now split into seven tranches maturities between 2012 and 2015.An operation rescheduling of debt which should provide greater financial flexibility to the family holding company which holds stakes in Oranje-Nassau, Legrand, Stallergenes or Bureau Veritas.

The title gained 2.80% to 42.63 euros on the Paris Bourse.

The Musketeers Intermarch? through the difficult mid-life crisis. While the grouping of independents is celebrating its anniversary in its 1 800 stores, its members supermarket owners are involved behind the scenes at a real palace revolution. Last week, following a coup de Treville Park, headquarters of the group south of Paris, Eric Mozas, president of Intermarket, has resigned. Even the next step of the entire Board of Directors consisting of members he himself appointed. Suddenly, Francis Gazuit, CEO and employee's right arm Mozas, negotiated his departure. He will leave his post on Friday. To succeed Eric Mozas, the group has chosen Philippe Manzoni, who had escaped the post two years ago and who has led the international arm. An activity deficit Eric Mozas would have surrendered.But lack of support internally, he could not resist the offensive of cons-Philippe Manzoni and other elders.

The scandals have done nothing there. The Wall Street Journal, the remuneration received by the U.S. capital in 23 large U.S. financial institutions should exceed 140 billion dollars (about 94 billion euros) in 2009, despite the various cases around the salaries of operators market contributed to the establishment bankrupt or distressed.

So, the year 2009 could, in terms of financial compensation, be better than 2007 a record year in the field with 130 billion dollars paid. Employees of these institutions should receive $ 2,000 more than in 2007, with an average of 143,400 dollars per head. This constitutes an increase of 20% compared to 2008, when market participants were affected in all and all for $ 117 billion.

The publication of this study comes as the Obama administration must publish its recommendations this week on salaries in effect in seven companies receiving federal assistance, including Bank of America and Citigroup.

Several scandals have erupted since the financial crisis around the salaries of traders, particularly in establishments which had been the subject of aid from the state. The issue had caused such great controversy between American and European cap salaries of traders. The G20 had compromised by adopting the principle of staggered payments over a longer period, and the establishment of a penalty.

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