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The Paris Bourse pauses

The CAC 40 will not stack with a seventh consecutive month of meeting this Friday. Or so that presage early trade. At the opening, the benchmark index in Paris begins with a decline of 0.27% to 4093.61 points.

The Frankfurt Stock Exchange is in equilibrium at 7475.22 points. In London, the markets are closed. The wedding day princely between William and Kate was indeed decreed holiday.

Investors follow the footsteps of Asian markets, Tokyo without (closed due to holiday) were very hesitant after the announcement of a U.S. growth slowed in the first quarter. In Paris as in Wall Street, many traders were yesterday conceded that the new had yet been burdened by other negative indicators.

Decline in German retail sales

For this last day of the week, risk-taking should be smaller.In addition to the marriage, the eyes will be on the expected flurry of statistics. In France, the producer price of French industry continued in March for the sixth straight month of sharp increase their movement, spurred by soaring oil prices, Insee said Friday. The increase is 0.9% from the previous month, after +0.8% in February

German retail sales fell unexpectedly in March in Germany, as consumers bought fewer groceries on the shelves and textiles in a month where inflation has exceeded 2%.

In the euro area, unemployment is on the agenda.

Then the United States, the festivities start with the incomes and household spending in February (14.30) and the Chicago PMI for April (15.45) and the index of consumer sentiment this month ( 3:55 p.m.).

Side currency, the euro remains strong against the dollar at 1.4847 dollar.Oil markets appear, they, down, worried about the state of the U.S. economy. A barrel of light sweet crude for June delivery lost 45 cents to 112.41 dollars and that of Brent North Sea also June delivery yielded 17 cents to 124.85 dollars.

Values ​​to follow

News companies should also serve markets:

Total: -0.31% to 42.87 euros

The tanker jeudila announced takeover of U.S. manufacturer SunPower solar panels in view of creating the "world leader in solar energy."The group also released Friday the results up in the first quarter, thanks in particular to the sharp rise in prices of oil and gas, but production was down by 2.3% mainly because of the Libyan crisis.

Accor: -0.46% to 30.11 euros

The group announced Friday to study a possible sale of the catering Lenôtre, as part of his refocusing on the only hotel trades.

GDF Suez: -0.27% to 27.69 euros

The group announced the launch of a new subsidiary trading on energy markets with the ambition to compete with industry heavyweights such as Barclays, Goldman Sachs, and E. ON EDF Trading

Legrand: -0.05% to 30.40 euros

The group announced the acquisition of SMS, a leading Brazilian electric inverters, in order to strengthen its position in a growing market.

Ingenico: 0.53% to 33.27 euros

The group denied on Thursday evening news reports that he would be interested in the activities of online payment from Hi Media.

Gifi: 4.23% to EUR 64

Ginestet family announced Thursday its intention to launch a simplified tender offer for the shares Gifi delist the distributor of first prizes.

Vinci confirms its objectives

Saint-Gobain: -0.56% to 46.89 euros

The group confirmed its 2011 targets after a first quarter marked by an acceleration of growth in its business thanks to the contribution of most geographic areas where it is present and better weather.

Vinci: 1.09% to 45.25 euros

The group also confirmed its full-year after a turnover up 25.4% in the first quarter, above market expectations, driven by acquisitions last year and its activities in the construction and energy.

Compagnie des Alpes: stable at 22.74 euros

The group reported Thursday a turnover up 5.8% for its first semester of the 2010-2011 fiscal year to March after a winter characterized by early snowfall.

Group Crit: 1.47% to 23.45 euros

The group again expressed confidence Thursday for earnings growth in 2011 after having posted a revenue increase of nearly 22% in the first quarter.

Saft: -2.54% to 30.47 euros

The group confirmed on Thursday its forecast for revenue and earnings for 2011 after releasing first quarter sales up 11%.

Bull: -4.91% to 4.45 euros

The group confirmed Thursday that the goals the group has set medium term, after realizing the first-quarter sales were down 0.9% to 270.8 million euros.The group also said that orders had risen to 313.8 million euros in Q1.

Fimalac: 1.23% to 29.66 euros

The group reported Thursday after the closing sales up 21.1% to 341.5 million euros thanks to the rise of nearly 17% of revenue from its credit rating agency Fitch.

Renault (-0.23% to 40.58 euros) will hold a meeting this Friday to 15 hours.

Belvedere will unveil its fourth quarter results, EDF Energies Nouvelles in sales the first quarter and Trigano its second quarter results.

Wall Street moves slowly

U.S. stock markets opened very slightly up on Tuesday. The Dow Jones gained 0.22% to 12,507.01 points, the S & P 500 is 0.40% to 1340.65 points and the Nasdaq rose 0.34% to 2835.44 points. On Monday, the NYSE has done in a piecemeal, beginning with one week ahead caution particularly busy, with many corporate earnings and a crucial meeting of the American central bank (Fed).

Investors should still be cautious on Tuesday. The week promises to be loaded into effect as macroeconomic and microeconomic levels.United States, some 180 companies in the Standard & Poor's 500 and eight of the Dow Jones must publish their first quarter results, including those from Amazon today, Coca-Cola and Office Depot.

Beginning of the Fed meeting tonight

The U.S. central bank meets from this afternoon and on this occasion could provide guidance on its strategy for ending the crisis so that its measures to support the economy come to an end late June. The U.S. central bank should maintain its interest rates between 0% and 0.25%, a threshold at which they have been held since December 2008 to reinvigorate the economy. On the other hand, the buyback program to $ 600 billion of debt the Treasury launched in November would go to its closure in June, in accordance with the wishes of the majority within the Fed.Markets also expect to see for the first time in the history of this institution almost centenary, the Fed chairman to answer questions from reporters after a meeting of the Monetary Policy Committee.

Housing prices in the United States continued to decline for the eighth consecutive month in February, 0.2% from January, according to the monthly Standard and Poor's / Case-Shiller index released Tuesday.

On the foreign exchange market, the euro rose slightly from 0.21% to 1.4610 dollar.

Oil prices were little higher on Tuesday at the market opening in New York, a barrel of benchmark winning 7 cents to 112.35 dollars, still supported by a weak dollar and tensions in the Middle East and North Africa .

Boeing: 0.21% to 75.06 dollars

The side of values, the investigators of the National Transportation Safety Board (NTSB) said in a statement it had found cracks in the fuselage of the Boeing 737-300 Southwest Airlines involved in an incident in early April, and problems on the rivets .

Oracle: -0.12% to 34.79 dollars

The IT group and Oracle software has announced the departure of its CFO Jeff Epstein, whose duties will be assumed by its co-president Safra Catz, who was both his direct supervisor and his predecessor.

Yahoo!: -0.23% to 17.07 dollars

Yahoo! announced Monday the acquisition of very young IntoNow company, which launched on January 31 an application for iPhone to connect to family television programs we are watching.Financial terms of the transaction were not disclosed, but the news website TechCrunch specialized evaluation between 20 and 30 million dollars.

General Electric: 1.07% to 20.10 dollars

The U.S. Department of Defense has terminated a contract from General Electric and Rolls-Royce for a replacement engine for fighter jets F-35.

Also note, the White House lashed out Monday night that U.S. oil companies will announce this week their profits when gasoline at the pump is at its highest in three years.Exxon Mobil advance of 0.19% to 86.38 dollars, Chevron gained 0.13% to 107.56 dollars and ConocoPhillips takes 0.17% to 80.62 dollars.

Goldman Sachs 0.21% to 152.52 dollars, Morgan Stanley: 0.47% to 25.90 dollars

A group of creditors of Lehman Brothers Holdings, led by Goldman Sachs and Morgan Stanley, introduced in turn before the bankruptcy court in Manhattan plan to restructure the bank, the third since the collapse of the facility in September 2008. It provides a recovery rate of over 40% for the creditors of the derivatives business at Lehman, which include the designers of this new plan, and a rate of only 16% for bondholders. The plan is very different from that filed in December by a group of bondholders, led by Paulson & Co. under which creditors would recover only derivatives that 25.7% and 24.5% of bondholders.Lehman has also filed its own restructuring plan, presented as a compromise. It provides a recovery rate of 34% for the creditors of derivatives and 21.4% for bondholders.

Pact for the Euro: Eastern Europe hostile

For Hungary and the Czech Republic is not. Prague or Budapest or accept the pact to join the euro, introduced at the request of Germany and France to prevent non-members of the eurozone new debt crises, and adopted at the summit European 24 and 25 March in Brussels.

The pact aims to strengthen mechanisms for monitoring and rapid reaction within the eurozone, for situations similar to those of bankruptcy occurred during autumn 2008 in the most fragile economies of the EU (Hungary, Estonia ).

This ambition has met with resistance from some capitals, who see the pact as an infringement of the independence of their fiscal policies: the Czech Republic, Hungary, Great Britain and Sweden have chosen to remain outside this strategy."The meeting on Friday, March 25 in Brussels has focused on a radical new limitation of the sovereignty of member countries of the EU, on Monday lost his temper very eurosceptic Czech President Vaclav Klaus.

In the wake of the Head of State, the Czech Prime Minister Petr Necas, said he regretted that countries outside the euro zone were not consulted prior to the measures constituting the pact. He has not ruled out that the Czech Republic to join later.

Tax competition

Before Klaus, Prime Minister of Hungary, Viktor Orban, whose country holds the EU presidency until June 30, had already expressed its categorical refusal to accept the pact cash advance flexible payments. "Right now, the Hungarian government decided not to join the pact for the euro, he said March 22.After consultation with the parties in Parliament, I can say that the desire to maintain the independence of our tax policy is unanimous. "The aim of the pact does not encourage tax competition. But a country economically weaker can hardly do without such a measure, "says Minister for Foreign Affairs Janos Martonyi.

However, the pact partially limits the discretion of governments, promoting a "convergence" of fiscal policies, particularly for the corporation tax, a strict limitation of government debt and wage moderation.

The rising discontent in Central and Eastern Europe. After Slovenia and Slovakia, some neighbors are still hoping to join the euro in 2013 or 2014, but a fundamental change is taking place in public opinion increasingly hostile to single currency.In a recent survey, 78% of Czechs said they were against. Hungary, she no longer hopes to join the euro before 2020.

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The resumption of construction at the trial of Egyptian crisis

Confidence and optimism. Bouygues in Vinci, through Lafarge, Saint Gobain, Ciments Vicat or French, the recent wave of publication of annual results in the construction ended on quite positive outlook for 2011. "I am convinced that the return to growth, yet very contrasting last year, will continue this year," said Pierre-Andre and Chalendar, CEO of Saint-Gobain, in an interview with Le Figaro, after the publication of annual results of the group. The diversified giant Bouygues seeks to increase its share of sales by 2% in 2011, driven by construction and telecoms. The prospects are very favorable for Lafarge, which "anticipates growth in its markets of cement demand between 3% and 6%" for the current year.

For Natixis analysts, however, the horizon is perhaps not so clear for the construction industry.According to them, "lack of visibility into Egypt" may weigh on the sector. In a note, they believe that "even if the long-term prospects remain very attractive, the Egyptian market in 2011 is expected to suffer from political turmoil that hit the country with the transition from the old regime and the establishment of a new ". And they expect a decline in demand for cement 5%, and on a slight decline in prices, "because of new capacity will be commissioned in 2011, representing 4 to 6 million tonnes, 10% of the request.

Egypt, a barometer of 2011?

This analysis echoes the concerns expressed recently by Standard & Poor's. The rating agency announced Feb. 23 that it planned to lower the note by the Lafarge Group, world's leading cement, due to its exposure to the Middle East and Africa, particularly Egypt.Lafarge has made about 40% of its operating profit in 2010 in these areas has advanced S & P. According to Natixis, the political situation in the Middle East and Africa could jeopardize the objective of growth of volumes of Lafarge in 2011. The French group, which employs 2,200 people in Egypt and produces 10 million tonnes of cement per year for the local market, ceased activity at its plant located 200 kilometers from Cairo for seven days.

For its part, the Italian Italcementi Group, which claims the number one spot in Egypt, admitted last week that "the current financial year could suffer from some factors of uncertainty, such as rising commodity prices and time needed to normalize the situation (in the country, Ed). The cement had to temporarily suspend production at its five plants in Egypt late January.

The French established a very

According to the 2010 report of the African Development Bank Group in Egypt, the construction industry grew by 14.7%, supported by giant infrastructure projects developed by the government. Sites on which the French groups are present in strength. In particular Vinci and Bouygues, which involved the construction of Metro Line 3 of Cairo. In the wake of Lafarge and Saint-Gobain, the two groups had to organize the repatriation of almost all of their some 180 expatriates in Egypt. The work of the subway line was suspended, but Xavier Huillard, CEO of Vinci, acted on March 6 that it restarts "in the coming days."

In unison, the French industrial relativize the impact of the political crisis in the Middle East on their business. Lafarge is not too worried.Its CEO, Bruno Lafont, spoke of "a limited economic impact" after the cessation of production at its plant in Egypt. Pierre-Andre de Chalendar, CEO of Saint-Gobain, which opened last November in Egypt's largest flat glass plant in the region, recalled that the area represented "less than 0.5% of the aggregate exposure" group. On Vinci, analysts Exane BNP Paribas have recently emphasized the "limited exposure" group in the region, particularly Egypt.

Opportunities to seize

Finally, the cement company Vicat, whose consolidated sales in Egypt posted a solid increase of 7.6% in 2010, assured that its industrial base was not affected by the unrest. "The group remains confident about the evolution of the Egyptian market and its ability to fully benefit from its growth," he said during the presentation of its annual results.

Some even see in the "revolution" Egypt is a great opportunity. "Egypt, the most populous country in the region retains its potential. She has significant needs for housing and infrastructure, "said Bruno Lafont, CEO of Lafarge. Bouygues said he was not present in the Middle East and North Africa, a region that represents less than 4% of its backlog, but he was interested. CEO Martin Bouygues, look forward with enthusiasm: "I hope that the movements of revolution will create an economic boom in these countries."

In exchange, the shares of construction players have found the colors, as a result of optimistic statements from their leaders.In January and February, they had been severely battered by the crisis in Egypt.

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Oil Tripping the Cac 40

After the nice gains yesterday on Wall Street and in Asia this morning, European stock markets saw their rate of increase slowed even fall into negative territory. In Paris the Cac 40, which closed yesterday up nearly 1% beyond 4100, declined by more than 1% to 4067.15 points after leading much of the day. The CAC 40 suffered profit taking after several fine sessions of gains. Investors worried about the risk of contagion of violence in the Arab world to major oil producing countries, like Kuwait or Oman.

On the foreign exchange market, the euro continued to rise against the dollar on Tuesday, still supported by persistent speculation about an early monetary tightening in the euro zone before the policy meeting of the European Central Bank (ECB) on Thursday.To 17 hours in Paris, the euro bought 1.3816 dollars against 1.3803 dollars late Monday.

Registrations of new cars bound

Tuesday, statistics aside, the European Commission announced expect a growth of 1.6% for countries in the euro area this year, up 0.1 points from previous projections, despite rising prices Oil and debt problems of some countries. Note, however, inflation accelerated again in February in the eurozone to 2.4% yoy from 2.3% in January, according to a first estimate Tuesday of the EU statistics office Eurostat. Still according to Eurostat, unemployment in the euro area fell to 9.9% of the workforce in January, after at least 10% in almost all of 2010.Also note, the growth of French manufacturing activity accelerated in February, according to final results of the Monthly Markit published Tuesday.

Registrations of new cars jumped 13.7% in France in February, still enjoying the effects of scrapping, according to figures released Tuesday by the Committee of French Automobile (CCFA). Registrations of Peugeot SA climbed 10.7% and 15.2% of Renault. The CAC 40, Peugeot SA and Renault respectively lost 1.64% to 28.54 euros and 2.23% to 43.42 euros. Furthermore, Peugeot SA is considering a name "low cost" for Europe, but has not yet taken a decision thereon, said Tuesday its chief brands, Jean-Marc Gales at the Geneva Motor Show .

Note also challenge Toyota, Peugeot and BMW in the hybrid car.The two groups will invest 100 million euros in their joint venture. Research and procurement will be located in Germany, while production of components will be located in Mulhouse.

In Paris, the luxury group LVMH with doing well, which accounts 0.17% to 114.70 euros. Investors ignore the departure of Galliano Dior. His rival, PPR advance more (0.86% to 110.95 euros)

Technicolor has reduced its losses in 2010

Sales of the former Thomson – on the brink of bankruptcy in 2009 – have rebounded throughout the year. The net loss of 69 million has been divided by five.The title is sanctioned: -5.66% to 5.17 euros

Vivendi (-1.31% to 20 business cards.39 euros) projects a slight increase in its profits and maintaining a high dividend in 2011 after posting 2010 earnings in line with expectations, the economic daily reported Tuesday Voices.

Steria (-1.25% to 22.57 Euro) announced Monday anticipate an acceleration in organic growth in turnover in 2011 against a backdrop of improving the IT services market, but its margin is expected to remain stable against 2010.

Remy Cointreau: + 2.74% to 50.01 euros specialist in wines and spirits to be announced Monday night entered into exclusive negotiations with the PPE Group for the sale of two brands of Champagne Piper-Heidsieck and Charles Heidsieck.

Bureau Veritas (-0.45% to 55.70 euros) on Monday published the results in 2010 net growth due to emerging countries and said to anticipate further strong growth in sales and operating profit in 2011.

Ingenico: -1.66% to 26.98 euros The group announced Monday night that he might have to raise its medium-term objectives, set for 2013, on the basis of year 2011 for which he anticipates growth organic turnover and improved margins.

Casino Guichard (unchanged at 70.98 euros) wants to sell assets for 700 million euros.The group expects an increase in sales of more than 10% annually over the next three years, but shows a 7% drop in net income in 2010 to 550 million euros in 2010 against 591 million euros a year earlier.

Carrefour (-1.71% to 34.79 euros) and the Alliance Boots company announced Monday an agreement of long-term cooperation in the field of cosmetics. Both groups will also explore partnership opportunities in emerging countries in the field of health.

GDF Suez degraded by UBS

GDF Suez, the second largest European utilities in terms of turnover, is studying the possibility of selling its gas distribution network in Italy as part of a transaction that can represent 750 million euros. Value (-2.13% to 28.75 euros) suffers from a lowering of recommendation from UBS, spent "neutral."

Dried Environment (-0.49% to 66.35 euros) on Monday published the results in 2010 rising, driven by the treatment and recovery of waste, and it was announced a further increase in current operating profit in 2011.

April Group (-2.25% to 22.38 euros) announced Monday a 9.6% increase in net income in 2010 for increased income from investments and the sale of nonstrategic assets .

Damartex (0.46% to 21.70 euros) announced Monday a Damartex Monday announced an increase of 17.5% in operating profit in the first half of 2010-2011 ended in late December, to 23.4 million euros thanks to improved sales and profit margins.

Predica, a subsidiary of Crédit Agricole Assurances and Land Wall announced Monday it had signed with the Louvre Hotels Group protocol to acquire a portfolio of 33 hotel properties operated under the Campanile.

Switzerland has frozen the assets of the Mubarak family

Deprived of power in Egypt, Hosni Mubarak could soon be as his property. Barely half an hour after the announcement of the resignation of the Pharaoh, or at 17:30 on Friday, the Swiss government announced it was blocking all funds that may belong to the Egyptian president and his family in Switzerland. The Federal Council has issued an order to that effect asking the Swiss banks to search for and freeze the assets of the clan Mubarak. According to the Swiss National Bank in late 2009, the Egyptian deposits on accounts in Switzerland reached 3.6 billion Swiss francs (2.27 billion euros).

"President Hosni Mubarak has resigned today after weeks of mass protests. The Federal Council took note of this evolving situation, "it said in the text.The assets of Mubarak and his entourage were blocked with "immediate effect" and the order is "valid for three years," says the Federal Council. "In addition, the sale and disposal of assets – including property – belonging to such persons are prohibited. The Federal Council intends to take all necessary measures to prevent any possible misuse of public funds. "

Between 40 and 70 billion

According to experts cited in the Middle East by the British newspaper Guardian, the Mubarak family fortune is estimated at between 40 and 70 billion dollars (29 need a personal loan with bad credit.5 and 51.7 billion euros). It would be divided as such: $ 15 billion for Hosni Mubarak, one billion to his wife Suzanne, eight billion for his eldest son, Alaa, and 17 billion for his second son, Gamal. By comparison, the couple's Ben Ali is estimated at five billion dollars, as ranked by Forbes magazine.And that of the richest man in the United States, Bill Gates, to 54 billion.

The Algerian newspaper Al Khabarprécise his side much of the wealth of Mubarak would be deposited in banks or invested in real estate. The Mubarak family would own and outside of Egypt, properties in the United States, Great Britain (whose son and mother hold the nationality), France, Switzerland, Germany, Spain and Dubai . Finally, two son, Gamal and Alaa created and taken stakes in many companies in Europe and the United States.

(With agencies)

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The Paris Bourse remains on guard

This last day of the week is marked by caution on the Parisian market. The CAC 40 starts the day down 0.35% to 4080.74 points, after a small rebound by 0.11% which allowed him to get closer to 4100. In London the FTSE-100 index lost 0.12% to 6012.81 points in early trade while in Frankfurt the Dax index down 0.28% to 7320.07 points.

The atmosphere on global exchanges has been tense since the speech of President Hosni Mubarak yesterday. This was expressed after 17 days of protest to announce that he transferred his powers to his vice-president Omar Suleiman, without resigning. The crowd, massed on Tahrir Square in Cairo, immediately expressed his displeasure. Further demonstrations are expected this Friday, and anger may rise a notch in the ranks of protesters from power.A situation that markets do not like.

Anticipating these developments, Wall Street closed yesterday at equilibrium, despite the publication of an indicator better than expected on the employment front. And this morning, Asian markets followed the trend.

U.S. consumer sentiment is expected

Oil markets, which also fear a contagion and disturbance on the Suez Canal, were still very tense. Crude oil prices were rising so sharply in electronic trading in Asia: a barrel of light sweet crude for March delivery gained 83 cents to 87.56 dollars and that of Brent North Sea with identical maturity took 69 cents to 101.56 dollars. On the currency markets, the euro declined to 1.3555 dollar.

Although focused on Egypt, operators should also monitor changes in bond rates in Europe, notably those of Portugal, and indicators of the day:

In France

– The current account deficit rose in 2010 to 40 billion euros, after 36.8 billion in 2009.

– Employment in the market increased 0.2% in the fourth quarter, according to consensus. 35,500 jobs were created after 19,200 in the third quarter.The increase is 0.7% over one year with a total of 109,900 jobs created.

U.S. trade balance will be unveiled in December and the index of consumer sentiment for February (first estimation).

Total and Michelin publications of the day

As for values, investors will still have enough to deal with a new set of publication:

Michelin: 2.80% to 58.68 euros

Tire group saw its net income increased tenfold in 2010 to 1.05 billion euros.Net sales amounted to 17.89 billion euros, up 21% at constant currency, driven by increased volumes of 13.4%.

Total: 0.24% to 43.58 euros

The third European oil company by market capitalization on Friday issued the results up in the fourth quarter, again driven by the rise in oil prices, and said it planned to increase its investments in 2011 to 20 billion dollars against 18 billion in 2010.

Medica: 0.56% to 14.43 euros

The group's homes achieved a turnover of 538.4 million euros in 2010, up 12.1%, a growth higher than the target and related in particular to a series of acquisitions.

L'Oreal: -5.31% to 84.75 euros

The group has turned the page of the crisis, announcing Thursday a strong recovery in its results, and announced his change of governance with the departure of Lindsay Owen-Jones from the presidency and the appointment of Jean-Paul Agon to CEO. The group also plans to make acquisitions in emerging markets, particularly India and Brazil, according to Jean-Paul Agon, CEO of the cosmetics group, in an interview published Friday in Le Figaro.

Latecoere: 1.19% to 9.39 euros

The company said 2010 sales rose thanks to strong performance allowed, especially in the fourth quarter billings to progress on some programs.

Theolia: -3.10% to 1.25 euros

The group announced a drop of 43% of its turnover, the important result of the disposal plan decided by the developer and operator of wind turbines in 2009.

Meetic: 3.24% to 16.88 euros

The leading European dating sites reported on Thursday EBITDA margin of 20.6% in 2010, in line with its objectives, thanks to the performances on the last part of the year.

SFL: -0.03% to 35.79 euros

The group announced Thursday for the Year 2010, a decline in rental revenues and operating profit but a rise in the appraised value of his assets after two years of decline.

General Health: -3.24% to 11.36 euros

The group on Thursday issued a 6% drop in operating profit during 2010, resulting from restructuring and consolidation of institutions.

Eiffage reveal sales for the fourth quarter after-hours trading.

Didier Lombard, France Telecom leaves

France Telecom: -0.25% to 16.23 euros

Didier Lombard announces leave the presidency of the telecom operator in an interview published Friday by The Tribune.

Thales: -0.36% to 26.49 euros

The CEO of the electronics group, Luc Vigneron, whose departure is mentioned in the press, assured the employees that will do anything to counter the "undermining" led by some opponents and that he be intimidated, report Les Echos Friday.

Casino: 0.07% to 71.04 euros

An arbitral tribunal has condemned the distribution group to pay the Baud family, founder of Franprix and Leader Price, 52 million of additional cash to redeem their shares in these signs.

Tunisia: "Democracy is good for investment '

The new governor of Bank of Tunisia launched in Davos, a call to the international investor confidence. Echoing one of the slogans of the protesters that led to regime change, "democracy is good for investment," Mustapha Kamel Nabli said that "the payment system works, as banks and foreign payments and there is no pressure on the exchange rate. "

He did acknowledge that some sectors such as tourism he said, are being "disorganized" because of political changes. Nevertheless he believes that the economic situation is "under control. We do not need any outside help. Our foreign exchange reserves are strong. "Deliberately adopting a technical language, this former academic who went through the World Bank, explained that "the fundamentals (economy) is good, the workforce is educated."

Asked about the country's gold reserves, he said a physical inventory has been made by a team of two internal auditors and two external auditors to the Bank. It appeared that the gold reserves held in the coffers of the institution in Tunis s raised to 5.7 tonnes, combined 1 payday loan lenders.4 that was tabled at the Bank of England. Total reserves are consistent with the actual IMF figures (nearly 6.8 tons).Contrary to rumors that the wife of former President Ben Ali would have won 1.5 tons belonging to the Central Bank, the reserves of the latter are intact.

A former executive of Ernst & Young

Mustapha Kamel Nabli identified himself as an academic, who joined the government after Ben Ali in 1990, broke away in 1995 to emigrate. He is accompanied in Davos two new ministers who have just been appointed. On the one hand, Yassine Brahim who support the Ministry of Infrastructures and Transport and other Sami Zaoui. This was until very recently a part of the auditing firm Ernst & Young in Paris, where it was established 23 years.He is now head of the Department of Computer Technologies and Information.

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Russia: France managed to sell Mistral

After many twists, Russia chose France for the supply of its warships. A joint Russian and French presidencies, released Friday, says "that after the international tender launched on October 5 for the supply to the Russian Navy in two buildings Projection and Command (BPC) Russian authorities have accepted the offer by the consortium formed by French manufacturers DCNS and STX and Russian shipyards OSK.

The offer in question provides, "initially" the joint construction of two warships Mistral.The bilateral agreement should then be extended "by making two additional units," the statement said.

According to the Elysee, "the construction of PCBs represent Russia for the French industrial DCNS and STX equivalent of 5 million hours or 1,000 people for four years, mostly in Saint-Nazaire.

"An unprecedented cooperation"

After long blown hot and cold on this issue, Russia therefore accepts the French offer payday loans for bad credit. The situation, however, were tense between the two countries since the Russian government has decided to launch an international tender. Paris, who was in exclusive negotiations, it was offended.

But moving Francois Fillon in Russia earlier this month allowed the negotiations to progress."President Medvedev and President Sarkozy welcomed the implementation of this unprecedented cooperation that will benefit the industry and employment in both countries, and illustrates the willingness and ability of France and Russia to develop partnerships in all major areas, including defense and security, "concludes the Elysee today.

This sale may make some cringe Eastern countries but the U.S. authorities. In a diplomatic telegram released by Wikileaks, the United States have already discussed a sale "inappropriate."

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Sanofi: OPA extended at the same price

As expected, Sanofi-Aventis continues in the same conditions its hostile bid made last October 4 on the U.S. Genzyme. The French laboratory which garnered only 0.9% of shares in the biotech United States after the expiration at midnight Friday for the first time, hopes to "give more time to holders of ordinary shares tender their shares to Genzyme to bid. "

New deadline brought to 21 January 2011

The new deadline is extended to January 21, 2011 at 23:59, New York time, "unless it is extended again," says Sanofi-Aventis. At 69 dollars per share, the offer values the group's pharmaceutical always Genzyme $ 18.5 billion. But the American judge that amount insufficient to launch formal talks with its suitor.In an interview, Henri Termeer, the head of the U.S. biotech estimated that $ 69 per share, the offer from Sanofi-Aventis "has no chance of success."

Disagreement on the valuation

The two parties disagree on the value of Genzyme rely mainly on the difficulties in assessing the speed with which the U.S. is recovering from serious production problems on two of its blockbuster drugs due to problems of contamination of one of its plants.

Another major stumbling block between the two groups: the estimation of future sales of its molecule Campath against multiple sclerosis.

To work around this particular problem, the boss Henri Termeer of Genzyme said he was open to the solution of the contingent value rights certificates, which allow shareholders to receive his company based on actual results of Campath an additional price, improving the offers French.Sanofi-Aventis, however, did not comment officially on this solution.

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