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EADS is developing a successor to the Concorde

Paris rally in Tokyo in 2:30. It may be possible around 2050. EADS, the parent company of Airbus, has initiated studies to develop a prototype that physically resembles the Concorde, whose last commercial flights stopped in 2003. The engine of the aircraft of the future for business travel with a capacity of 50 to 100 seats, would at once to fly at high speed while being environmentally friendly, since its goal is zero tailpipe emissions. It will take at least ten years of development before considering the first test flight.

The project is called ZEHST through a partnership between EADS, ONERA, the French aerospace research lab as well as Japan. A feasibility study financed by the Directorate General of Civil Aviation (DGCA) and its counterpart Japanese, was launched.It is based on the initial results of research carried out by Astrium, a subsidiary of the giant European space aeronautics, as part of its program of sub-orbital aircraft, the Space plane.

Three types of engines

The unit will have three types of engines already on the market that will be used during different phases of flight: take-off up to 5000 meters with a turbo-jet close enough to those fitted to aircraft today, but "these engines will be powered by biofuels third generation developed from growing algae so clean," said Jean Botti, chief technology officer of EADS business card design. When climbing in altitude beyond 20,000 feet at 0.8 Mach, the unit will use cryogenic engines such as the Ariane launcher, powered by hydrogen.Then for the transition to its high speed (mach 4) and a very high altitude (32,000 meters) use ZEHST called Ramjet engines (now fitted to cruise missiles). A model is on display at Le Bourget.

Meanwhile, EADS is working on another concept known as Voltaire, an all-electric machine whose engine would not be placed under the wings but in the tail. The wings would obey the principle of morphing itself adapting to the different phases of flight, said Jean Botti in substance. The device is designed to make short trips with 50 to 70 passengers.

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The Paris Bourse uptick

Keep the 4000 points will be the goal of the day at the Paris Bourse. This threshold was consolidated yesterday with an increase of 1.63%, amid relief on the Greek case. Germany indeed abandon the idea of ​​restructuring the debt. Information that was also relieved Wall Street and Asian markets yesterday.

On Wednesday, the CAC 40 is moving slowly from 0.14% to 4014.84 points. Elsewhere, the London Stock Exchange opened down slightly, the FTSE-100 index lost just 0.05% to 5986.93 points. Frankfurt, by contrast, began with a gain of 0.23% to 7310.56 points.

Already in Asia, the euphoria gave way to doubts after the announcement of a further slowdown in manufacturing activity in China. PMI purchasing managers of the China Federation of Logistics and Purchasing (CFLP) fell to 52 last month, cons 52.9 in April.For its part, HSBC has calculated a PMI to 51.6 for May, against 51.8 in April, and noted "a continued moderate growth in manufacturing output accompanied by an easing of inflationary pressures" on last month.

The U.S. employment program

These new investors also encourage Parisians to moderation. Especially since a series of important indicators is expected:

In France, the unemployment rate fell slightly in the first quarter of 2011, to 9.2% of the workforce in France (9.7% overseas departments included), down 0.1 points compared revised figure for the fourth quarter of 2010, INSEE announced Wednesday.

In Europe is provided the manufacturing PMI in May.Then the United States, employment will be honored with the study Challenger (1330) and the monthly ADP (1430), both published before the traditional employment report from the Labor Department, scheduled for Friday . Are also scheduled in the U.S., construction spending and ISM manufacturing.

As for currencies, the euro remains stable against the dollar in morning trading at 1.4427 dollar. For its part, the oil rises, still worn by the announcement on Greece.In morning trading, a barrel of light sweet crude for July delivery took 30 cents to U.S. $ 103 while that of Brent North Sea crude for delivery gained 31 cents identical to 117.04 dollars.

Operators under supervision

As for values ​​to be followed:

Axa: 2.02% to 15.14 euros

The group, which has detailed a plan Wednesday to strategic investors, will sell its Canadian subsidiary to Intact Financial.

Peugeot: -0.37% to 29.30 euros, Renault: -0.15% to 39.36 euros

Registrations of new cars rose 6.2% in May

Schneider Electric: 0.22% to 114.85 euros

The group announced Wednesday a takeover bid of $ 2 billion (1.4 billion euros) to Telvent, a specialist in systems for managing energy infrastructure, water and transport.

France Telecom: -0.57% to 15.81 euros, Bouygues: -0.11% to 32.06 euros, Vivendi +0.15% at 19.42 euros

The mobile phone may be carcinogenic but no formal proof establishes the link between mobile use and brain tumors, cancer specialists have said Tuesday the World Health Organization (WHO).

Arkema: -0.35% to 75.90 euros

The group will enter the CAC Next 20, the antechamber of the CAC 40, and CNP Assurances will be withdrawn with effect from 20 June, the Council decided on scientific evidence of NYSE Euronext Paris. In a statement, Arkema said that NYSE Euronext enters the CAC 60 and the Large NOC is withdrawn.The reverse operation is performed for the CAC Mid 60.

Neopost: -1.16% to 61.50 euros

The group announced an increase in its turnover in the first quarter despite difficult conditions in Europe and confirmed its targets for 2011.

Theolia: 8.40% to 1.42 euros

The group announced Wednesday it had signed an MoU with the National Electricity Morocco (ONE) to develop and implement an entire fleet of 300 megawatts (MW) in Tetouan near Tangier.

Lagardère: 0.51% to 28.52 euros

The group has completed the bulk of the sale of its international magazine to Hearst, which should have a negative impact of EUR 35 million on operating profit of Lagardere Media for 2011.These disposals will impact is the objective announced in March a growth of around 10% of its 2011 operating profit at constant exchange media, which included the magazine internationally.

Neopost: -1.17% to 61.49 euros

The group announced an increase in its turnover in the first quarter despite difficult conditions in Europe and confirmed its targets for 2011.

Belvedere: -1.39% to 61.50 euros

The CEO challenge the fines against him required by the representative of the college's Financial Markets Authority (AMF).

Bourbon and Atos Origin today hold their general meetings.

EDF and Areva on the alert

Less than four months after the catastrophede Fukushima, Germany decided to phase out nuclear power within ten years. A few days ago already, Switzerland announced the non-replacement of its nuclear plants, which meant the arrest of Atomic Energy in 2034. But this Monday is a heavy sounding the end of a business. Of its 17 reactors, eight have been stopped since the nuclear accident in Japan and will not be reactivated, and most will no longer be in service by the end of the year. As for operators of these reactors is anger. German groups RWE, EnBW and E. ON, and the publicly owned Swedish Vattenfall, challenge this decision, particularly because of the continued consideration of a tax on nuclear fuel, while it was intended to remove it.The two main actors, RWE and E. ON – which operated 13 reactors – dropped by 2.07% to 19.60 euros and 40.18 euros at 2.06% shortly after the opening of the Frankfurt Stock Exchange. For Bernhard Jeggle LBBW analyst, their profits will plunge by 6 to 11% per annum for the next few years.

Thus, Germany must find ways to cover 22% of its electricity needs are currently covered by its atomic plants. Already, from Fukushima and stopping, a total of eight power stations, Germany has had to draw electricity from abroad. Thus, since mid-March, electricity imports from France have doubled. In this context, EDF is positioning itself quite well.Certainly, last December, the electrician had to leave Germany by selling its 45% equity stake in EnBW, but at its last meeting, a few days ago, Henri Proglio insite on strategy internationalization of the group, with a significant increase in installed capacity of 200 GW (gigawatts) in 2020 – against 132 GW Gross in 2011.

A decision "purely political"

Except that the French group, which intends to become the first French electric utility in the world by 2020, intend to achieve by building in easy payday loans… nuclear. However, the German decision is a strong message against nuclear energy. And if France does not seem to lead to a shutdown of Atomic Energy – the G8 in Deauville, France has sought to weaken the safety tests in Europe – the pressure on the government could still rise.Echoing the lack of visibility facing the sector, EDF shares were down 0.67% in early trade on the Paris Stock Exchange on Monday morning. At GDF Suez, the title lost 0.49% at 25.30 euros in a market uptick (+0.15%) and displays with EDF, one of the largest decreases the Cac 40.

Finally Areva, the beginning of the session was extremely volatile for the first day of trading in its shares. President Anne Lauvergeon, whose term expires at the end of June and that the issue of succession is not always avoided, says the German decision is "totally political" and did not rule out a reversal of situation by the deadline. Meanwhile, Areva has suspended its quantified for the year 2012, ie a turnover of 12 billion euros and an operating margin in double digits, after the nuclear disaster in Japan.But "the group could benefit from stress testing of units in operation worldwide, investments to improve security that plant operators will be obliged to fund," according to analysts at Natixis, and that new contracts related to the closure of units across the Rhine, or even new orders for third-generation reactors.

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Libya placed its petrodollars in Europe

Gaddafi's Libya, where she placed her money? Part of the answer was made Thursday by the publication of a report of internal financial Libyan sovereign fund, the Libyan Investment Authority (LIA). This document, dated June 30, 2010, was uncovered by the British NGO Global Witness. It reveals very conservative management has been made of the $ 53.3 billion (about EUR 38 billion) held by the fund, which are now subject to a freeze by the EU and U.S. authorities.

Libyan managers have a taste of Europe: they have put about 60% of assets, particularly in France. At June 30, 2010, Societe Generale manages the LIA AIF for $ 1.05 billion (after a loss of 750 million euros in three months), BNP Paribas for $ 10 million.

Major French companies

At June 30, 2010, the Libyan sovereign fund also owns 536.6 million euros in shares of companies quoted on the Paris Bourse. One of them, Lagardère, the LIA is placed in the "strategic", with an investment of $ 62 million in market value. Other major French companies in the portfolio "not strategic", such as France Telecom (53 billion), Vivendi, Suez-GDF, EDF, or Danone. The LIA was then invested tens of billions in each.

The fund's management is very opaque, it is impossible to know what equity it holds today in the French companies.A clue: According to statistics from the Bank of France, financial institutions hold in their coffers hexagonal 8,233,000,000 ($ 5.8 billion) of Libyan origin at December 31, 2010.

A prudent strategy

"Then in mid-2010 many uncertainties still hang over the global economy, management remains extremely cautious LIA," says Philippe Waechter, head of economic research at Natixis AM. He holds to this date 60% cash, 10% bonds and 8% of shares. "This defensive strategy used to limit risk, continues the economist. This did not prevent the LIA wiping lost between the first and second quarter 2010, 4.53% of their capital to $ 53.3 billion (37.8 billion euros).

The details revealed by this paper could resume the hunting of Libyan assets, frozen since early February by a European decision, said Fabrice Marchisio, a lawyer specializing in this field. He said "this will require financial institutions that have dealt with Libya to register with the authorities if they have not already done."

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The price of gasoline is still beating records

The weeks go by and look for drivers who can only see the rise of gasoline prices in their service stations. Last week, the price of a liter of unleaded 95 has thus reached 1.5492 euros on an average calculated by the Directorate General for Energy and Climate (DGEC) throughout the territory. The unleaded 95 and beat his own record of 1.5469 TTC, the previous week. For its part, the unleaded 98 also registered a record 1.5861 to 1.5849 against euro per liter euro the week ending April 29.

Only the diesel appears to decline. For the third consecutive week, its price fell to 1.3453 euros per liter on average, far from its high in May 2008 to 1.4541 euro.

Prices at the pump, however, vary greatly from one city to another.According to the website carbeo.com, some gas station attendants already impose price close to € 2 advanced by the boss of Total, Christophe de Margerie. This is particularly the case of two service stations in the 16th arrondissement of Paris and Lilac (enSeine-Saint-Denis), who sell a liter of unleaded 98 to the price of 1.89 euro.

Christine Lagarde is awaiting a report

Oil prices have tumbled in the markets, however, due to a fear on the strength of the U.S. economy. The price of a barrel of U.S. light crude for June deadline ended last Friday in decline on the New York Mercantile Exchange, to 97.18 dollars, down from 2.62 dollars. For the week, the WTI has lost 16.75 dollars or about 15%, its biggest weekly decline in percentage terms since the week to December 19, 2008 when prices fell by 26.8%.Expressed in dollars, fall is the highest since the ratings began on the Nymex in 1983.

The movement was identical to London where the price of Brent at the same maturity have finished Friday at 109.13 dollars a barrel (-1.51%). For the week, the price of Brent crude fell by 13.3% or 16.76 dollars a barrel, their currency depreciation in the sharpest ever recorded.

"The oil companies and distributors have pledged to pass immediately to the pump every drop of oil prices", said Minister of Economy Christine Lagarde on Monday."I asked the Directorate General for Consumer, Competition and Fraud to give me a report early next week and be extremely attentive to changing prices," she warned .

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European banks are seeking 100 billion

And three. Europe prepares to submit its banks for a third round of stress tests. The objective is always the same: to reassure markets on the strength of the European banking system. And thus enable it to finance itself without the help of the European Central Bank.

On Friday, the European banking authority has announced details of the exercise, whose results will be announced in June, as promised, the device has been hardened by the previous album. This time for the 91 European banks subject to the "check-up cross bar higher than 5% of capital" hard ", even in stormy weather on real estate, sharp rise in rates or further increase in funding costs. Last July, investors have found the stress tests implausible.Moreover, four months after seeing their health bulletin buffered by the ECB, two Irish banks had called for help.

Last year, the stress tests had highlighted a need for equity of only 3.5 billion euros. Since then, Deutsche Bank, BBVA and other Standard Chartered has increased its capital by 10.5 billion, partly to fund acquisitions, partly to prepare for the increased requirements of Basel 3. But it is still far off. By adding the "hole" of 24 billion euros of Irish banks, the 50 billion that could cost the "cajas" in Spain, the 20 billion estimated on Italian banks, and even the 11 billion announced last week by Commerzbank the 100 billion euros of capital requirements is taken blithely.

Contain contagion

The announcements follow one another.Furthermore Commerzbank, Intesa Italian unveiled last week its intention to raise $ 5 billion one hour payday loan. These projects were well received. The markets want to believe that four years after the explosion of the subprime credit bubble in the U.S., the continent is poised to contain the contagion. Governments, in fact, began to worry about the soundness of their banking system. Permeability between banks and the U.S. has never been more evident. Last winter, the woes of the Anglo Irish Bank and other Bank of Ireland Ireland compelled to seek help from Europe and the IMF.Conversely, it is under pressure from his own bank, choked by the degradation of the Portuguese sovereign risk, that Lisbon was forced last week to accept the lifeline.

Typically, Portugal's decision could put pressure on Spain, next on the list of countries deemed sensitive. It did not happen at this point. Madrid took the lead in addressing, since January, the restructuring of its savings undermined by the housing crisis.As for Italy, the governor of the central bank has conveyed the message that he wanted much better capitalized institutions.

Then, build equity far? The gap between, on one hand, the high solvency ratios – above 10% – set by the Swiss regulator, which the UK could follow suit and the other, the Germans and French, that warn against the risk of escalation. The debate is far from complete.

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Eric Besson wants to review gas prices and plans to tax the oil

The Energy Minister, Eric Besson, who attended Friday at Matignon in a meeting on the theme of soaring energy was delivered this Sunday on Radio J, a change in the calculation of gas prices . Keeps the current formula, partly indexed to oil prices, should indeed lead to a further price increase on 1 July. An increase that could go wrong with consumers who are already undergoing an increase of 5.2% in early April, an inflation of 20% over one year and 60% since 2005.

"The government's objective is very clear: it is, in a context of rising energy prices at the international level to protect the purchasing power of the French," said Eric Besson, who considers "unacceptable" the continued the increase could reach 7.5% under the current formula.The new method of calculation should be offered "in the coming weeks" after the arbitral panel Matignon and the Elysee Palace.

Since early 2010, the energy group GDF Suez, owned 35% by the state, which offers fares. The Commission for Energy Regulation (CER) then verifies that the prices are consistent with the formula. But the government may "ask" GDF Suez does not apply the increase. The CRE has pronounced itself in recent days to a new formula for calculating rates to better reflect market prices (spot prices) at the expense of long-term price listed in the contract supply that GDF has signed with major suppliers. The spot prices now account for about 10% in the scale used.The regulator calls for increasing this proportion "as the market price continues to be lower than the average import price from the long-term contracts."

Curb rising fuel

Eric Besson else said the government was worried about soaring fuel prices. To curb the rates that affect the household budget, he plans to "make use" petroleum distributors.

He said he was "technically very difficult, if not impossible" to establish a "social tariff of gasoline, already ruled out last month by the Economy Minister Christine Lagarde. He believes, however, can mitigate the impact of soaring fuel prices, adding that discussions were under way but without giving further details on the nature of the contribution that would be applied to oil tankers.He also refused to talk to a tax on profits groups. "If we adopt a measure for the poorest households, it is necessary that, in one form or another, contribute to petroleum distributors," he said, referring only arbitration "in the days to come." Prices at the pump have been drawn up in recent weeks by revolts in Libya and the Middle East who have blazed the price of crude oil. In March, the super unleaded 95 had reached a high of 1.5179 euro parlitre.

(With AFP)

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Live Nation in the running to buy Warner Music

Affected by the crisis of the disc labels would they even dream? Two months after the sale of Warner Music Edgar Bronfman Jr., the prospective takeover of the major U.S. seem to shake the door of the bank Goldman Sachs.

Live Nation, the giant concert organization, claiming to be the last time, revealed the Wall Street Journal and the New York Post on Friday. It is well to mark the seventh interest in Warner, after BMG Music Publishing, Sony, the investment fund of billionaire Poju Zabludowicz Tamaris, the fund's billionaire Russian-American Len Blavatnik, the fund Yucaipa Ron Burkle, Platinum Equity or Permira.

But Live Nation has very different interests of the latter.While it is primarily the catalog of Warner Chappell, and revenue from the exploitation of rights, which attracted investors such as BMG, Turner lurks on the production activity of the recorded music major.

The latter would, in effect, expand Live Nation offer, which already covers much of the music profession. Organizer of 20,000 concerts a year, Live Nation has gained a foothold in the ticket purchasing Ticketmaster last year. The group also controls the company Front Line, which specializes in artist management. Live Nation has, moreover, of working in merchandising and merchandising online payday loans. Finally, via Live Nation Network, Turner also holds agreements between brands and artists.

Sales erode

All these activities play an increasing role in the artists' income, while sales of recorded music are being eroded.The acquisition of Warner Music at Live Nation would get their hands on the activity of recorded music. Less profitable, it remains a precondition to sell tickets for concerts, tours, T-shirts and management contracts. But the operation could thus face a denial of competition authorities. The shareholders of Warner Music could therefore be tempted by an offer of a simple competitive standpoint.

Another uncertainty, the financial position of Live Nation. The group posted a record loss of $ 228 million in 2010. The group has 165 million of free cash flow. According to the Financial Times, Live Nation could lean group Liberty Media, which owns 20% of Live Nation, to submit an offer.

All activities Warner (production and editing) is now valued at between 2.2 and 2.5 billion dollars.A price likely to decline while the major EMI, fell into the hands of his creditor, the bank Citigroup, should be placed on the market soon.