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There is electricity in the air when it comes to the estate of Pierre-Henri Gourgeon at the head of Air France. The future boss of the Air France-KLM in 2014, must initially be appointed head of the only Air France. The Board of Directors of the Company held Wednesday will not be an opportunity to put an end to the war of suitors. The four directors who comprise the Nominating Committee decided to take their time. It is only in the coming weeks as the quartet will present its recommendation, hoping to bring some calm and find a consensus on the board.

The "wise men" are aware that the candidate will also appeal to the state, which supports the candidacy of Alexander Juniac, adviser to the Minister of Economy, Baroin instant personal loans guaranteed.Pierre-Henri Gourgeon is on the same line, but not Jean-Cyril Spinetta, Group Chairman, a supporter of the appointment of a "pro" for a business sector heckled by the TGV, the low-cost, companies of Gulf and Asian competition.

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Year after year, the situation is more bitter and alarmist. The Chinese market is becoming less hospitable to foreign companies. In its annual report, the European Chamber of Commerce in China believes that despite promises, Beijing multiplies the obstacles. "Recent measures limiting further opening the market to raise questions about the desire to create for all market players sustainable opportunities," says the EU document.

Catalogue of Foreign Investment released this year by the Chinese government is full of examples. Notably in the "green" high priority posted in Beijing. Foreigners are worried about being de facto excluded from the promising area of ​​"clean energy".Thus, the joint venture manufacturer of components for cars running the "new energy" power in the first place can not be held at 50% maximum by foreigners. The same goes for offshore wind turbines. In a more general, significant obstacles still exist in the sectors of construction, automotive, financial services and telecommunications.

A perfect expertise

If the Speaker of the House, Davide Cucino, welcomed the objectives of 12th five year plan endorsed this year by Beijing, which focuses on the development of domestic consumption and services, he regretted that "some of these priorities will not reflected in the texts governing foreign investment. " And, while "European companies have a perfect expertise and technology" to address these areas of effort.Surveys of members of the House reflect the anxiety room. Some 43% of them believe that the measures taken by Beijing are discriminatory to foreign firms, against 33% last year. And 46% – against 36% last year – believe that this situation will continue at least in the next two years.

At a time when the general economic downturn makes the dynamic even more indispensable terrain Chinese, Europeans and Americans want Beijing transforms good intentions into action. As for improving market access for public bids – estimated at one trillion dollars annually, which is slow in coming, as deplored by Davide Cucino.

Coca-Cola is angry against France. To protest against the tax on soft drinks that the government of François Fillon wants to establish in 2012, as part of the austerity plan, the U.S. giant announced Thursday the suspension of an investment of € 17 million provided for the next year at its plant in the Bouches-du-Rhone, the Pennes-Mirabeau.

This is the first concrete decision of the U.S. company from ads on 24 August. By this gesture, the group's management intends to "symbolic protest" against the tax. The investment "is not canceled but it must be reassessed in the context of uncertainty created by the tax," says the group. These 17 million would be used to launch a new production line for cans at the plant, the second in France in terms of production, which employs 203 people and five years has already received 45 million euros of investment .

It was to be formalized on September 19, on the occasion of the celebration of 40 years of factory Pennes-Mirabeau. The arrival of John Brock, president of Coca-Cola Enterprises for 40 years the site is also canceled.

"I understand the position of Coca-Cola"

Coca-Cola, which employs 3000 employees across five production sites in France, says wait and see what will unfold the vote in Parliament before taking a final decision. The tax should indeed be debated in the coming weeks as part of the bill for funding Social Security."We hear and symbolic protest against a tax that punishes and stigmatizes our company our products," said Coca-Cola, which "reaffirms its strong opposition to any form of stigmatization of soft drinks and their assimilation into other product categories such as tobacco. "

This tax, which should bring 120 million euros to the state, according to the manufacturers should increase the cost price of the can of a euro cent on average. For the National Association of Food Industries (ANIA), the decision of the U.S. company is understandable. "I understand the position of Coca-Cola, said Jean-René Buisson, president of the association. Coca is one of the companies that have signed charters with the government on reducing sugar and nutrition education policy.Why do food manufacturers would they continue to trust the government? ", He gets mad. "The tax Fillon is the stigma of food which is harmful is not scientifically proven," he adds.

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Staff morale was recorded in late spring a dramatic improvement, the financial crisis of this summer related to sovereign debt of the United States and the countries of the euro area has dramatically changed the situation. And the beginning of September, white-collar grind black.

In any case, what emerges from the latest wave of the Baro-Eco Viavoice for HEC, Le Figaro and France Inter, in August, the total fertility fell by 30 percentage points from May "Unheard of. And, – 55, the index fell to its lowest level since its inception in 2004, "insists François Miquet-Marty, president of Viavoice.

All indicators are in red and some even collapsing altogether. Thus, three out of four frames (+ 25 points) expect a deterioration in living standards in France in general in a year, against one in two in May.And nearly eight in ten (39 + points) forecast an increase in unemployment in the coming months (the survey was conducted before the publication of poor figures from July). "The extent of the deterioration of macroeconomic indicators is particularly worrying," believes François Miquet-Marty No teletrack payday loans.

Fear of a recession

In this context, it is not surprising that they are pessimistic about the evolution of the economic situation. Seven in ten think that France "will again be in recession" over the coming months."The risks of recession concern especially as states now have more ways to revive the economy," said President Viavoice.

The personal perspectives of white-collar darker too, even though the labor market frameworks remained well oriented in July, according to latest statistics from the Apec, with offers up 67% over 12 months. According to the barometer Viavoice near a two-part (+ 16 points) think their personal financial situation "will deteriorate." More than eight in ten believe that the opportunities to advance their careers will be "weak". "Vote the budget framework of Franco-German proposals against the crisis, G20 in the fall: the appointment of school appear to be crucial to restore the confidence of executives," said François Miquet-Marty.

Click the preview to enlarge the graphic.

The New York Stock Exchange, which has accelerated its rise in early trading after the publication of a good ISM, quickly found the red and has continued to widen its losses. In the end, the Dow fell 1.03% to 11,493.57 points, the S & P by 1.19% to 1204.42 points and the Nasdaq 1.3% to 2546.04 points. Trading volumes were low in anticipation of U.S. employment figures on Friday. Wednesday, the increase was set for the fourth session later time.The U.S. investors were reassured by the tone of the minutes of the last monetary policy committee of the Fed.

While the manufacturing sector remained in growth in the United States in August, while analysts expected a contraction. This index, calculated by the Institute of Supply Management (ISM), falls to 50.6 against 50.9 in July and 48.5 expected.But investors have extra caution while construction spending heavily relapsed in July in the U.S., continuing to suffer from the weak housing market, according to figures released Thursday by the Commerce Department.

In addition, the decline in nonfarm productivity in the United States was larger than initially announced in the second quarter, against a backdrop of weak economic growth, according to revised figures released today by the Department of Labor. And the number of jobless declined in the United States during the week to August 27, at 409,000 against 421,000 the previous week. Economists were anticipating 410,000 registrations.

The blow came from the White House. If it has revised down its forecast budget deficit of the U.S. federal government for 2011 and 2012, it has also revised down its growth forecasts.The Budget Office of the White House (OMB) said in its biannual journal that the deficit should reach 8.8% of GDP for 2011 and 6.1% for 2012. It revised down its economic growth forecast to 2.1% this year and 3.3% for 2012, pushing the unemployment rate to 8.2% in the fourth quarter, up 0.9 point less than in July 2011.

European debt worries yet

In Europe, the issue of debt remains a concern for investors. According to calculations by economists of the IMF if the European banks were asked to write on their balance sheet obligations of States in the euro area market value, their tangible equity would fall to about 200 billion euros in total, from 10 to 12%, reports the Financial Times. In fact, the debt crisis is far from over and the discrepancies between European leaders are continuing.Latest, the EU president, Herman Van Rompuy, downplayed the significance of the "golden rule" budget that Paris and Berlin want to impose the euro area, even as France in extolling the virtues.

Values ​​to follow

The side of values, French Fimalac announced the sale of its Canadian subsidiary Algorithmics, specializing in software for the financial industry, IBM (-0.92% to 170.32 dollars).

Automakers said Thursday strong growth in sales of cars in the year to August in the U.S., 31% for Chrysler, Nissan 19%, 18% for General Motors (-4.16% to 23.03 dollars) and 11% for Ford (-2.52% to 10.84 dollars), despite difficult economic conditions.

The title Ciena surged 20.18%. The manufacturer of equipment for telecommunications shows a profit for the first time in three years, while analysts expected a further loss.

Goldman Sachs has been unscrewed from 3.49%. The U.S. Federal Reserve demanded that the U.S. bank to make the services of an outside consultant to review the mortgages issued by one of its subsidiaries, to identify and compensate borrowers who have been victims of improper seizures .

In addition, a judge overturned the conviction of SAP (-1.04% to 53.85 dollars) to pay to $ 1.3 miliard Oracle (-0.80% to 27.85 dollars).

The distribution group online eBay (-1.43% to 30.43 dollars) is looking for acquisitions in Japan and China, the two largest economies in the Asia, where the group wants to develop, said an official of the eBay Wall Street Journal Thursday.

Also note, after closing the CEO of the U.S. investment bank Bank Of New York Mellon (-0.15% to 20.64 dollars), Robert Kelly, has resigned because of "differences in management approach Company "with the rest of management, said Wednesday the establishment.He was replaced by Gerald Hassell, a member of the board, the bank said in a statement.

For its part, the number two mobile phone in the U.S., AT & T (-0.74% to 28.27 dollars), suffered a blow Wednesday with the opposition of the competition agencies, the proposed takeover its rival T-Mobile for $ 39 billion.

Cameron International (-0.83% to 51.53 dollars) has announced the acquisition activities of LeTourneau drilling products held by Joy Global for about $ 375 million in cash. The same Joy Global said it had experienced for its third quarter ended July 29, orders rose by 49% to $ 1.4 billion and sales up 34% to $ 1.1 billion.Operating profit reached $ 236 million against 172 million last year.

Costco Wholesale (1.20% to 79.48 dollars) issued net sales up 17% year on year to 6.9 billion in August and 27.6 billion dollars in the fourth quarter. In addition, CEO Jim Sinegal announced his departure on 1 January 2012 and its replacement by the Director of Operations Craig Jelinek.

Stryker (-1.23% to 48.24 dollars) will acquire Concentric Medical, specializing in the manufacture of products for the treatment of ischemic stroke, for $ 135 million.

Gold endless chain of historical records. On Wednesday, a day marked by a new slump in stock markets, gold futures have surpassed for the first time in history the threshold of 1800 dollars to 1801 dollars an ounce, up 3% on the New York Commodities Exchange (Comex). Spot prices have touched the session 1796.86 dollars an ounce. Expressed in euro, they also reached the historic high of 1,255.89 euros per ounce.

Since the rating is downgraded the sovereign debt of the United States by Standard and Poor's Friday, gold benefits from a surge in risk aversion. "Investors are panicking, they lost all their bearings," said Djillali Hacid, technical analyst at XTB France. As the equity markets, traders do not seem convinced by the various rescue plan intended to secure the sovereign debt, in Europe and the United States."For investors, there is no way for these debt problems. What is proposed is that tinkering is not reassuring and that does not seem able to avoid contagion, "says the analyst. Evidence of the distrust of the operators, the gold had increased its earnings even as the President of the European Central Bank (ECB), Jean-Claude Trichet, suggested that the bond buyback program could resume in support of the Spain and Italy, two countries under pressure from the markets paydayloan.

In addition to fears of contagion gloomy growth prospects in the world and especially in the United States where poor indicators are linked in recent days.

In this context trouble, investors consider gold as a safe haven that allows them to cope with economic uncertainty and turmoil in the bond markets.However, riskier assets suffer warning signs that multiply in the global economy, suggesting a slowdown in growth. Oil is one of those sensitive assets.

Soaring gold prices will last

For the coming months, so difficult to imagine a sudden drop of the metal king. The upward pressure is reinforced by the central bank buying. That of South Korea said Tuesday it had bought 25 tonnes of the precious metal on world markets between June and July, a first in thirteen years. In addition, "the attraction of gold is enhanced by the fact that no central bank has control of its course and can not intervene to limit its power," unlike the refuge currencies such as the Swiss franc and the Japanese yen, said Kathleen Brooks, an analyst at Forex.com.

"The growth potential of the gold is enormous.There is not for everyone and if anyone wanted to buy did, prices would rise even higher, "says one in XTB.

While European stock markets, starting with Paris, still closed on Friday decreases, Baroin called to remain calm. The Minister of Economy, which had cut short his vacation to "take stock with his teams," according to the Elysée, stressed the need to "keep a cool head and not make a tracing paper of the excitement that can be observed on a given market. "

Invited to France Info, just after the close of the Paris Bourse, which for the first time ever signed a tenth meeting of consecutive decline, including the minister explained that "the questions posed from a double question mark: the character of the strong global economic growth and the important issue in Europe and worldwide of this problem of public debt. "

On this last point, Baroin said that "the determination of the 17 heads of state of the euro area should not doubt the investors." And remember, in reference to the plan of aid to Greece reached July 21, that "in Europe, there was an agreement by the Heads of State very important because it offered answers online cash advance. These responses must be heard by the markets. "

Latency

The Minister of Economy, however, admitted that there was "a latency reduction" between the announcement of the plan, which is "a good plan," and its practical implementation. It must indeed be ratified by national parliaments. In this regard, Baroin was keen to dispel doubts about the possibility of rejection by the German parliamentarians. "The plan will be voted on July 21. There is no other way to protect our currency which is the common good of the countries in the region, "said he.But "time is not the Democratic one click of a market operator," he said.

In order to "restore investor confidence," Baroin also ensures that "we must strengthen the governance of the euro area to make it optimal."

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It's a real competition gigatisme. After the announcement by Prince al-Walid to build a tower more than a thousand feet high, the Burj Dubai skyscraper almost seem "small." Yet, this tower, which rises to 828 meters currently holds the record for the tallest tower in the world. And the number of buildings approaching that height now record, will increase in coming years.

The popularity of the towers is very strong especially in emerging countries, which will soon appear three new skyscrapers lying in a range in height from 500 to 800 meters. Symbols of modernity and economic development, they show by their names prosperity of their city or country. The Makkah Clock Royal Tower (601 m) should be opened in Saudi Arabia at the end of this year.The draft Jakarta Tower (588 m) in Indonesia, launched in 1997, should finally set up in 2012. As for the tallest tower in China, the Shanghai Tower (632m), with completion scheduled for 2014.

United States, where the tallest buildings are just above half a mile, top of a building 541mètres should dominate the sky in 2013. This is a skyscraper built on the ruins of the World Trade Center.

After the immediate relief, the scrutiny. The decisions of the EU summit in distilled As the day of Thursday, had caused a real euphoria in the markets. The important thing was then to resist the further analysis which would not fail to deliver the observers. Result: the markets have continued to welcome a plan that went far beyond their expectations, even though Citigroup, Goldman Sachs and Barclays, we regretted not getting an expansion in the size of EFSF (European financial stability).

Real financial thermometer, the CDS (credit default swap) of Greece – or the premium paid by investors seeking to insure against the default risk of Athens – had symbolized the tension alone: ​​this instrument has lost 500 points these hours to reach 1500 bps.As recently as Monday, July 18, he had earned in 2568 basis points. In this case, the ISDA – the professional body responsible for deciding whether to initiate hedges and therefore pay those who hold them – decided on Friday that the European level do not justify.

A first in the euro area

Conversely, the rating agency Fitch has confirmed that it would place Greece in "selective default". This penalty – provided from the time the private creditors were asked to contribute to the rescue of Greece – a first in the euro area. The default is "selective", only a portion of the loans in Greece are concerned. There will be temporary. Fitch says it will award the following further notes that Greece will consider reducing the weight of its debt.

Behind these technical quibbles lies a considerable challenge.Whether the 50 billion of impairment suffered by the financial sector to come to the aid of Greece are yes or no if a "unique and exceptional" as European leaders have hammered. These statements have not prevented Fitch stressed that the Greek case did constitute a "precedent", when Ireland and Portugal are far from out of the woods. "This means that Ireland and Portugal have eighteen months to put up their house in order, they will suffer further degradation of their rating," warns Gary Jenkins, head of research at Evolution.

Apart from Ireland and Portugal, the first priority was to stop the contagion to Spain and Italy. On this point, the efforts have paid off. The rates at which these two countries borrow on the markets have significantly relaxed this week.

This renewed confidence has yet to confirm."We see four risks in the plan," detailing the Societe Generale analysts. Get ahead of the national parliaments, first. Limit the duration and impact of selective default, then. Confirm a response rate of 90% of creditors to the plan – in this respect, the French banks said they would meet there. And, last but not least challenge: that Greece found a dynamic itself.

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In launching his new business tuna in the Indian Ocean in 2007, Yannick Lauri, president of Sapmer rubbed to a less pleasing to fishing in Seychelles waters: the fight against piracy. Used to fight against illegal fishing in the Southern Ocean, its historical business, the second French fishing vessel owner must now deal with direct attacks against ships, conducted off the coast of Somalia, Kenya and Tanzania. "A real paramilitary organization," also describes the leader, the tuna-freezer Franche-Terre foiled a pirate attack in 2010.

To avoid being faced with demands for ransom of up to tens of millions of euros, the group has had to adapt.After the first fishing season in September 2009 carried out without any protection, fleet Sapmer has adopted a "for the protection of its crews, under the strong incentive of the state," explains Yannick Lauri. The measures are rather restrictive and expensive …. The obligation to "binômage" (navigation of ships by two, alternating with fishing time) in effect reduces the effective time fishing and limits the free movement of ships. "Especially since we had to navigate a given speed, which has a significant effect on fuel consumption." This obligation has been reduced on June 1, but could be reconsidered in case of renewed attacks.

Insurers ship their bets

But the effect on fishing in itself is a first illustration of the additional costs incurred by piracy.Faced with these increased risks, insurers have been quick to react. "The coverage of these risks represent 10% of our insurance for our tuna fleet, about 75,000 euros for our fleet of three tuna," said Yannick Lauri.

Finally, a report by the Institute of Higher National Defence Studies (IHEDN) which participated Sapmer, released in June, estimates that several hundred thousand euros a year ship the additional security measures.

This cost may seem exorbitant, but due to the requirement for owners to use the personal protection of their ships. Cost is in addition to the measures on navigation, and insurance-costs. For example, Arnoult Gauthier, president of sales VNavy benefits of private military companies (PMCs) from 4000 to 9000 dollars (2800 to 6200 euros) per day per boat.For the heavier the device includes boarding protection teams on boats.

Armed men on board for the protection of marine

For shipowners flying the French flag as Sapmer, these are men from the bodies of state (marine commandos, marines, etc.). Who come to protect the crew. Five armed men complement the 33 sailors present on each of the three tuna of the group. Considering that their vigilance decreases after six weeks, the state imposes, by that time, a return to earth for five days of rest before returning to sea This is not consistent with the ten weeks during a campaign fishing, and induced costs of accommodation and logistics for tracking weapons.

If the teams are state bodies, is financially Sapmer "put to work" for the care of these men.Yannick Lauri, which does not specify the percentage of participation, while acknowledging the nature of effective protection measures by professionals.

To a use of private protection?

As for use of private companies, "this device is not yet approved for vessels under the French flag, although discussions are ongoing, and there is some legal uncertainty on the issue." Currently, MPI experiments with private companies to protect the devices that need to be as effective as the protection of embedded military teams, but technically lighter. But for now, no alternative "has not yet developed," says Yannick Lauri.

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