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For better and for worse. The formula is devoted to marriages as a glove in Hong Kong. China, with its tremendous growth (10.7% last quarter 2009), certainly takes the resumption of the Special Administrative Region (SAR), politically subservient to Beijing but economically and financially independent. However, it also threatens to plunge the country into a spiral of overheating.

"The potential risk of forming bubbles is high," says Norman Chan, Executive Director of the Hong Kong Monetary Authority.

In China, prices are rising for several months now so excessive, and many experts are warning the country against the dangers of relapse.Mid-January, during the Asian Financial Forum, Dominique Strauss-Kahn, managing director of the International Monetary Fund (IMF) called for the establishment of measures of capital controls in Asia, stating: "Until is temporary, it probably only means to avoid the bubble shape. Beijing does nothing when the bank credit limit to 7.500 billion yuan (773 billion euros) in 2010, against 9590 billion yuan (966 billion) per annum penny.

"The Chinese spend freely"

The Government of Hong Kong is believed to be safe. But it was forgotten that the two powers "are linked by two-way interests perfectly understood one side or the other, as recalled Victor Visot, president of advisers of Foreign Trade of France.

The city is a work in progress."500 buildings out of earth each year, observes Edward Yau, Minister of Environment, pointing to the towers being built around his office. While height and meet new environmental standards, "says he, anxious to point out that 70% of the land remains wild.

Even 710,000 Hong Kong dollars (66 cash advance in one hour .700 Euros) per square meter for an apartment overlooking the sea, tearing programs like hotcakes. The mainland Chinese are the first customers of Hong Kong developers."All the establishement of Beijing and Shanghai, all top managers have a pied-à-terre here that they have or not a business, said Edward Leung, chief economist at the Hong Kong Trade Development Council. They are the ones who buy goods more expensive and they have that, unlike the financial crisis of 1997-1998, house prices do not collapse. "

They invest more easily than the Chinese authorities have allowed banks on the continent to settle in Hong Kong. In the luxury shops of the Central neighborhood, one recognizes immediately the Chinese in their Mandarin while everyone here speaks Cantonese. "They have money, they spend freely and today supply 60% of sales of major brands," said Victor Visot.

After declining 20% in fall 2008, housing prices soared again, observes Helen Chan, senior economist for the government.Especially in the high end, where they rose 30% in 2009, at the same time that transactions were exploding, driven by interest rates very low (0.5% base rate).

While "the risk of a bubble is not imminent," dithers Nomura specialist on site. But it is real enough that Hong Kong officials, while saying "do not control capital movements, consider taking administrative measures to curb overheating. As they did last October, raising the deposit on the most luxurious apartments.

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After criticizing the organization of the nuclear industry, Henri Proglio blames the system of distribution of gas and electricity, according to the financial daily Les Echos, Henri Proglio would have felt during a trip to Mount de-Marsan January 25 last, that the current organization involving EDF and GDF Suez in the distribution of gas and electricity, through their respective subsidiaries and ERDF GrDF, figure was "nonsense".

As for unions, the direction in which this issue is not a surprise, but "the idea of separation is a major concern in the year 2010, the newspaper reported.

Already in early January Francony Michel, CEO of ERDF, had indicated that the joint service between ERDF and GrDF was "faced with the necessity of (the) provide organizations and own way of functioning, better able to respond to issues more and more different and sometimes contradictory.

Moving with the times

Force is indeed clear that the context has changed since the time when both companies have been reconciled. EDF and GDF were then public monopoly . GDF Suez is now closed and the market is competitive.

Yet about 45,000 employees, are 95% of the total workforce of ERDF and GrDF continue to work respectively for the maintenance of power lines and gas pipelines.

Henri Proglio recovery and the idea of messing up the organization.But he will face unions and local politicians who advocate mixed organizations and public service mission, and legal provisions, but "around".

The case should take its time …

Michel Francony on an ejection seat

Also according to Voices, the new boss of EDF had proposed to his colleague Michel Francony leaving office, whose mandate expires in 2012. But it should not let them. Implied, another slow and choppy affair prepare.

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Calling Christian Estrosi, Minister of Industry, has been heard. The management of Total committed, in a statement to guarantee employment to every employee, regardless of the decision about the future of the Dunkirk refinery.

The Minister of Industry said that Monday morning that the government "will not accept" the closure of the Total refinery at Dunkirk "until there are no guarantees necessary for the sustainability" of 800 jobs concerned, "he said Monday on radio BFM.

"Total must invest in employment" (CFDT)

The secretary general of the CFDT (French Democratic Confederation of Labor), François Chérèque must also be reassured that he claimed in the wake of Christian Estrosi, that: "Total has a lot of money, so total should invest in employment."He said Total "must go beyond" its legal obligations: "He has to justify the closure, but it must ensure that all the jobs lost are converted to another activity Total, plus subcontractors.

According to La Tribune, the continuation of the refining process would require 60 and 120 million euro investment. "This range is the budget for the full review of the refinery 'reply a spokesman for Total.

In March 2009 already, the oil company had attracted the ire of politicians, after announcing the abolition of 555 posts in France, including 249 by 2013 in the refinery. A few weeks earlier, had issued a total record profit for 2008 of 13.9 billion euros.

Total release February 11 its profits in 2009, expected around 8 billion euros. Total declined to comment on this figure.

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While tourism remains weakened by the crisis, TUI AG is doing rather well. The German group published its results on Tuesday nine months, from January 1 to September 30. Boosted by gains from the sale of 43.3% owner of Hapag-Lloyd AG, net income was multiplied by ten. It stood at 401 million euros, against 45 million euros over the first nine months of 2008.

These figures will serve as the annual results for the year 2009. TUI rose on a year shifted from October 2009. "This positive development shows clearly that our tourism business is fundamentally healthy and that over time," said Michael Frenzel, CEO of the group, in a statement. The turnover, now entirely generated by tourism, but has slipped to 14% on a year to 13.1 billion euros.Subsidiaries TUI Travel (tours), TUI Hotels & Resorts (hotels and clubs) and TUI Cruises (cruises) have seen their business drop by 14%, 5% and 9% respectively. The weakness of the pound has also weighed.

Despite the difficult environment, operating income was up 5% to 696 million euros over the year amputated in 2009. And its evolution should remain "stable" for the current year, the statement said. Michael Frenzel is optimistic. The turnover and profits should start rising from 2010/2011, "if the economy recovers as expected.

A page in the history of General Motors (GM) is turning. The U.S. manufacturer has confirmed on Friday reached an agreement with Sichuan Tengzhong Heavy Industrial Machinery to sell it to the Hummer brand, owned by GM. Tengzhong Hummer will acquire through a subsidiary which will own 80%, while the independent businessman Suolang Duoji resume the remaining 20%. The transaction amount was not disclosed for now, but according to a source familiar with the matter, the sale is around 150 million dollars (about 102.3 million euros). But GM was estimated at 500 million (340 million euros) minimum value of the Hummer in its declaration of bankruptcy last summer. Tengzhong product including machinery for construction and infrastructure, but also for the energy industry.

General Motors had announced the day after filing for bankruptcy in early June, a memorandum of agreement with him to give Tengzhong Hummer, a hallmark that the American manufacturer considered "non-strategic" to its survival. Hummer does actually represents less than 0.5% of annual production of General Motors.

Very famous for their impressive size, the Hummer vehicle sales have plummeted in the United States due to rising oil prices and the consequences of the economic crisis. Very inefficient, these types of vehicles show an average fuel economy of at least 14 liters per 100 kilometers.

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