Live News

The mere mention of his name thrills. The supermodel Adriana Karembeu confirms that it is also a business woman: she announced Thursday that his firm, AKD, is just steps away from joining the Paris Bourse. This is also an ambassador for the Red Cross has launched five years ago his company of cosmetics and spa hotels, including providing public relations in both France and Japan easy payday loans. Adriana Karembeu day before each presentation of the products of Silicium +, to bring the message of respect and healthy – its products are not tested on animals and contain no parabens – and the "consumer thinking, civic and qualitative.

Adriana Karembeu poses to promote her cosmetics.

Small volumes of trade and wait. This could be the profile of the session on Wall Street Monday. After closing up on last Thursday (Friday was a holiday), the NYSE was heading toward an opening in the green Monday. Upstream of the opening, the futures contracts reflected an increase of 28 points on the Dow Jones at 12,462 points, 4.4 points on the S & P 500 at 1335.4 points, 6 points and the Nasdaq , at 2381.5 points.

Investors should remain cautious earlier this week, pending statements from Fed Chairman Ben Bernanke on Wednesday. Forecasts of inflation and economic outlook: new publications the U.S. central bank should be explained at the first press conference after the meeting of the Governing Council.On the other hand, the first official estimate of GDP for the first quarter will be published Thursday.

Side companies, Ameriprise Financial, Johnson Controls, Kimberly-Clark and Radioshack should publish their results before-hours trading. The distributor of electronic products RADIOSHACK posted a quarterly profit of $ 0.33, $ 0.35 cons expected by the consensus. The turnover stood at 1.06 billion dollars as the anticipated 1.07 billion consensus.

On the other hand, NIKE could see its stock price reached a new high over the next 18 months if the OEM is able to raise prices without adversely affecting sales, according to investors cited by the magazine Barron's. After the record high reached last year to 92.49 dollars, as Nike declined to $ 80, due to the rising cost of oil, cotton and labor.On the other hand, the bank Wells Fargo has raised its rating on the pharmaceutical company Johnson & Johnson "market performance" to "outperform."

Finally, the title of the Chinese search engine Baidu might be heckled. The Chinese government will punish the search engine and 13 other sites for allowing illegal music downloads, reports the official Xinhua News Agency. No details on the nature of the sanctions has been published. According to Xinhua, the sites in question have left online illegal content despite several warnings from the authorities.

The course from Advanced Micro Devices (AMD) could also be active on Monday. The computer chip manufacturer announced Thursday after-hours trading that its net income had doubled in the first quarter quasimment.SanDisk also announced on Thursday its results for the first three months of the year, slightly down from last year. PG & E for its part, announced the sudden departure of its CEO Peter Darbee.

ALSO READ:

"The U.S. recovery is facing more uncertainties

The day after a jump of 2.46% which allowed the Cac 40 to exceed the 4000 points, the index is still up: 0.29% to 4016.19 points in ouerture. Last night Wall Street has ended sharply higher and higher over the past three years, supported by the technology sector, and this morning, Asian markets are doing well. The London Stock Exchange opened higher by 0.26% from Wednesday's close at 6037.71 points. The DAX index of the Frankfurt Stock Exchange shows him, up from 0.62% to 7294.58 points.

Side currency, the euro continues to rise inexorably. This morning, it still takes 0.32% and 1.4568 dollar rating, a level not seen since December 2009. The next resistance is at $ 1.46. On the commodity front, oil flies: the classes were still on the upside this morning, boosted by gains on Wall Street the previous day.In morning trading, a barrel of light sweet crude for June delivery took 53 cents to 111.98 dollars. That of Brent North Sea crude for June delivery gained 38 cents to 124.23 dollars. Wednesday, the price of a barrel of oil jumped more than three dollars in New York, under the effect of an unexpected fall in stocks of petroleum products in the United States and a sharp weakening of the dollar.

On Thursday, the economic program, we will now German Ifo barometer at 10 am, followed very investors.United States, the traditional weekly claims for unemployment benefits fall to 14.30, then 16 hours, the composite indicator of economic activity will be unveiled in March, and the figure very important activity in the region Philadelphia in April.

Schneider, Lafarge and Plastic Omnium in top billing

Side values, Schneider Electric (3.41% to 118.15 euros, higher up) has published a turnover up 26.5% in the first quarter to 4.94 billion euros and confirmed its objectives of growth and profit for the year 2011. According to its chief executive Jean-Pascal Tricoire, interviewed by Le Figaro, there are no talks with U.S. giant Tyco.

Just behind Lafarge rises from 2.87% to 47.74 euros. Goldman Sachs noted in his advice on the purchase value, which was previously neutral.Then comes Plastic Omnium (2.70% to 65.50 euros), whose turnover grew by over 36% in the first quarter, estimates that its activity should remain good in the second quarter due to production global automotive always supported.

Scor climbed 2.61% to 19.48 euros). Nomura has begun monitoring the reinsurance industry in Europe with a conservative view but has positioned itself to purchase at Scor.

Debt Eiffage (2.18% to 43.63 eruos) is not a concern, said in an interview with Les Echos published on Thursday Deputy CEO of construction group and concessions, while stressing that the goal was to reduce the debt of 300 to 400 million for each of the years 2011 and 2012.

The French group Alstom (1 make quick cash.93% to 44.57 euros) and China's Shanghai Electric together through the creation of a joint venture their boilers from coal, creating the market leader.

Accor, Sodexo Bénéteau and shunned

Conversely Accor disappoints sharply (-4.39% to 30.07 euros): the hotel group has seen its business grow by 5.8% in the first quarter and remains confident in the continued recovery in the hotel cycle in 2011 .Turnover totaled 1.354 billion euros in first quarter (+5.5% organic) with respect to 1.359 billion provided by Reuters.

The manufacturer of pleasure boats Beneteau (-4.06% to 14.89 euros), has announced a reduction by more than half its operating loss in the first half of 2010-2011 compared to the same period last year and confirmed its performance targets throughout the year. [

it was discovered this morning that Sodexo (-1.49% to 52.07 euros) has revised upward its forecast for annual revenue: the world's second largest catering, now thought behind Compass do for 2010 – 2011 a growth of around 4.5% so far it expects a growth of 3 to 4%.

Publicis (-1.59% to 38.27 euros) this morning publishes an organic growth of 6.5% over the period to 1.286 billion euros, against 3.1 in the first quarter of 2010 and the chairman of Publicis, Maurice Levy anticipates that 2011 will be "good or very good."

The wine and spirits group Remy Cointreau (-1.46% to 53.90 euros) Thursday announced revenues for its fiscal year 2010-2011 (ending March) up 12.4% to 908 million euros, with demand still very strong for its cognacs, particularly in Asia.

APRR (0.45% to 50.92 euros), whose activity increased by 4.1% in the first quarter, expects a less favorable trend in the second quarter mainly due to higher prices fuels that could affect the traffic of cars and trucks.

Safran (+0.88% at 24.53 euros) holds a general meeting at 10 o'clock during which shareholders have entrusted to Jean-Paul Herteman a second term and appoint the CEO, while Vivendi will be held at 10:30. Jean-Bernard Levy, "Vivendi saw a major turning point" means the Chief Executive has explained to Le Figaro in an interview the group's strategic direction. Meanwhile, technology stocks, widely acclaimed yesterday, should still be viewed on Thursday. The record results from Intel, the giant high-tech, support the entire sector in the world.

The Director General of the transatlantic exchange operator NYSE Euronext (-0.96% to 26.78 euros), Duncan Niederauer, on Wednesday defended its proposed merger with Deutsche Börse, the finding most relevant to the strategic plan as a redemption the Nasdaq and the ICE documentation of decommissioning.

After-hours trading, we take note of the quarterly results from Michelin, Boiron and BioMérieux.

Eurocopter will be able to develop a new civil helicopter. Matignon has indeed granted an aid of 550 million euro to the subsidiary of EADS, said The Tribune, to develop the successor to its flagship product, the Dauphin. The benefits should also be concerned subcontractors Eurocopter subsidiaries beginning with Turbomeca Safran Group and Sagem. And in total, the amount of manufacturing this new device is expected to reach 1.5 billion euros for commissioning by 2018-2020.

The aid granted by Matignon is part of the large borrowing for future investments. In fact, France wishes to maintain the production of these helicopters in France, the site of Marignane, near Marseille. Especially since the funds allocated by the State will fund the innovations on the new model guaranteed payday loans.Eurocopter had specifically requested funding for R & T (research and technology) and R & D (research and development) for his project X4 (4 helicopter as a 4-ton). The allocated budget will also develop "an ambitious technological program, says La Tribune in technology (turbines, avionics, rotor blades, fuselage …)» in a highly competitive range.

The newspaper said that the Steering Committee of the General Commission for Investment (CGI) was initially granted 400 million euros. It also specifies that arbitration government has not yet been an official signature.

ALSO READ:

"Eurocopter € 550 million request to the State

"Eurocopter's most attractive employer

The CAC 40 in beautiful colors found on Thursday. The benchmark index in Paris, who managed yesterday to back up the 3900 points at the last minute, took another step forward, encouraged by macroeconomic indicators of good quality. At the midpoint, the CAC 40 advances from 1.31% to 3964.84 points at same atmosphere in London and Frankfurt stock exchanges which are also in the green: the Footsie advance of 0.98% to 5852.65 points and the DAX climbed 1.59% to 6912.77 points.

But volatility may still be at the rendezvous, as was the case in Asian markets this morning. International news is indeed very busy and should focus attention again, slowing any risk taking.

Japan, Libya and Portugal under surveillance

In Japan, first of all, the problems persist on the plant in Fukushima.Site personnel, evacuated the day after an offshoot of black smoke, resumed on Thursday watering operations on the reactor 3 where electricity was partially restored in the control room of reactor 1. Investors are also following closely the level of radioactivity in the capital, Tokyo.

In Libya, the tension escalates as the forces pro-Gaddafi not give up despite the bombing of their tanks by the international coalition. The tanks of the Guide are the entrances to the city Ajdabiah while the coalition struck a military base east of Tripoli. The main hospital Misrata third largest city, was the target of raids on Wednesday night.

Finally, in Europe, the sovereign debt crisis resurfaced with Portugal, while a European summit held today in Brussels.The Socialist Prime Minister Jose Socrates has presented his resignation Wednesday night the President of the Republic after the dismissal of his austerity program by Parliament. The political crisis should accelerate the use of international financial rescue.

U.S. unemployment program

In this highly charged, a series of statistics, however, should occupy the market. In France, the business climate improved again in March, in manufacturing as in other sectors, shows the monthly business survey published Thursday by the INSEE. The synthetic indicator of business climate in the manufacturing sector rose three points to 109, its highest level since late 2007.The employment figures for February will be also published after market (18 hours).

The growth of private activity in the euro zone slowed in March as the PMI index published on Thursday, but economists believe that the level of the indicator remains encouraging. The composite index of purchasing managers, which summarizes the activity in the manufacturing and services, to 57.5 points in March, the company announced that Markit publishes the index, in a first estimate. The index settled at 57 points in January and 58.2 in February, its highest level since July 2006.

For their part, the United States will lift the veil on durable goods orders in February and weekly jobless claims at 13:30.

On the currency market, on the foreign exchange market, the euro stabilizes stable against the greenback at 1 cash advance in one hour.4128 dollars against 1.4083 dollars on the previous evening.For their part, oil markets back slowly because of rising U.S. crude stocks published yesterday. In morning trading, a barrel of light sweet crude for May delivery yielded 31 cents to 105.44 dollars. That of Brent North Sea crude for May delivery declined 27 cents to 115.28 dollars.

Ingenico flies

At mid session every CAC 40 stocks are benefiting from the upturn.

Accor: 2.47% to 31, 09 Euro

The title is head increases the CAC 40. The hospitality industry, recently penalized by the geopolitical risks and catastrophe Japanese is resumed. Accor has lost 13.34% over the last 30 days.

Renault: +0.03% at 37.81 euros

The manufacturer firm duCAC walking 40 with a modest gain after a recommendation from Berenberg keep passing with a target price of 47 euros.the title of the builder is also pulled down by that of its subsidiary to 44% Nissan dropped 4.55% in Tokyo. For Peugeot (1.40% to 27.1 euros), the bank also requires to be kept with a target to 34 euros.

EDF: + 0.50% to 28.92 euros

The electrician has submitted to government a document in which he suggests a rise of 4.7% of electricity rates for individuals on average each year from 2011 to 2015, according to the text that Reuters was able to consult.The Energy Minister, Eric Besson said that electricity prices would increase slightly this summer and no significant increase was under consideration.

Natixis: + 1.12% to 4.15 euros

The bank announced Thursday the purchase of 800 million euros of subordinated notes underwritten by BPCE, as announced on February 23.

Bolloré: -0.43% to 160.30 euros

Italian Pininfarina has exercised a put option to sell its stake in its 50/50 joint venture with Bolloré. The sales price stood at 10 million euros, according to the book value and what was agreed in September.

France Telecom: + 0.39% to 15.63 euros, Vivendi: + 0.82% to 19.63 euros

The French telecoms regulator has announced a new lower cost of call termination.From the perspective of telecom operators, including market leaders in Orange and SFR, the reductions in call termination weigh on sales growth.

Ingenico: + 5.39% to 28.06 euros

The group was selected to participate in a proposed deployment of contactless payment in the United States, funded by Google, according to Les Echos.

Gameloft: -1.93% to 4.58 euros

The title suffered profit taking after publication of its 2010 earnings. The company has benefited from the rise of touch pads and believes that its video games continue to be worn in 2011 by new technologies and the explosion of smartphones. It relies on a new sales growth and improved profitability and cash flow in 2011.

Ubisoft: + 0.08% to 7.39 euros

Nintendo 3DS arrived in France on Friday.The game publisher will offer four of the fifteen titles available at launch for the handheld. The group is betting on success.

The Paris Bourse is a small step forward Monday in mid-session. After opening slightly lower, the CAC 40 0.18% ahead of midterm to 4077.75 points. To 15 hours, the increase was more candid with a gain of almost 1% to 4110 points. Despite the good performance of Asian markets and the close up on Wall Street Friday, traders play the card of caution after a session that saw the benchmark index climbing 1.51% Paris this weekend.

On other European markets, the atmosphere is also very hesitant. The FTSE London Stock Exchange was down 0.47% to 5973.23 points while in Frankfurt the Dax symbolically advance of 0.02% to 7186.80 points.

Investors should still have their eyes on the situation in the Arab world.In Libya, the opposition, strong control of the Eastern and Western cities, was preparing to march on Tripoli and Sunday tensions have spread Sunday to Oman, Sultanate strategically at the mouth of the Gulf. Faced with these tensions, crude prices were again on the upside, a barrel of Brent North Sea exceeding $ 113.Markets will also focus on the series of macroeconomic indicators provided on both sides of the Atlantic:

– In France, prices of industrial production recorded a fourth consecutive month of sharp rise in January, rising 0.9% from the previous month and 5.6% on their progress on year, according to Figures released Monday by the INSEE.

– Inflation accelerated in January in the eurozone to 2.3% yoy from 2.2% in December, but rising consumer prices has been weaker than the 2.4% announced until here, said Monday the EU statistics office Eurostat in a second estimate.

– In Germany, import prices rose more than expected in January from 1.5% a month to month and 11.8% annually, while the consensus gave 1.0% and 11 2% respectively.In Spain, the rate of inflation increased further in February to 3.4% year on year, its highest level since October 2008

– United States will be published income and expenditure survey in December (1430), the Chicago PMI for February (15.45) and the promise of home sales in January (16h).

Note that the currency market, the euro continues to rise, still supported by speculation about an increase in anticipated interest rates by the European Central Bank for the fight against inflation when the policy committee monetary institution meets Thursday. About 11:20 am in Paris, the euro bought 1.3839 dollars against 1.3749 dollars on Friday night.

Values to follow

EADS: -0.58% to 20.54 euros

The group should still be affected by the failure of the tanker contract.EADS may seek to acquire a European group fully exposed to the U.S. defense market, essential to his ambition of becoming a global player in the sector, analysts estimated.

Furthermore, the European aircraft manufacturer Airbus announced Monday in a statement it had received an order "farm" of three A330-200 of the Malaysian company, low cost AirAsia X.

Renault: + 1.36% at 43.53 euros

The carmaker Daimler signed a new agreement whereby the French manufacturer develops electric motors for Smart and Twingo ranges, while the German group will provide the batteries, said the head of R & D at Daimler, citing a German newspaper.Both groups and deepen their alliance forged in April.

Moreover, the Figaro says it in a week that Switzerland will provide the Paris prosecutor the result of letters rogatory requested to check whether two of the three executives on suspicion of espionage and licensees have received money in accounts in this country.

Alstom: + 0.17% to 42.99 euros, Veolia: + 0.49% to 23.75 euros

SNCF, Alstom and Veolia had applied to the realization of the line high-speed train between Orlando and Tampa but the new governor has just drawn a line under this vast project on the grounds of cost and underestimated considered overestimated revenues, according to information from La Tribune.

Carrefour: -0.01% to 35.54 euros

According to Le Figaro, the group could be separated from Dia hard discount its branch.It would become completely autonomous, with no managerial or financial relationship with Carrefour.

Hi-Media: + 4.73% to 4.21 euros

Speculation grows on the value as we approach the end of the period of reflection on the future strategic commitment to the activity of micro-group. Hi-Media, announced in mid-December that it had asked the investment bank NIBC Bank to study the various possible industrial and financial partnerships around its platform and its micropayment Allopass electronic purse Hipay.

CAM: + 2.76% to 26.82 euros

The group reported a 2010 net profit of 100.2 million euros, up 11%. Revenues climbed 3.6% to 2.676 billion.The dividend for fiscal 2010 amounted to 0.82 euro, up 5.1%.

Teleperformance: -1.58% to € 26.70

World number one call center announced Monday a drop in 2010 earnings due to charges related to a restructuring that results in job losses in France.Teleperformance has spent 47 million euros of provisions in its accounts for 2010 to restructure its operations in France, of which 45 million are related to the second plan announced last summer.

Eurofins: + 6.12% to 58.65 euros

The analytical services group posted a profit in 2010 of 23.4 million and saw its sales gain 6.3% to 680 million euros.

At the close of trading, April Group, Ingenico, Steria and Bureau Veritas will announce their annual results.

Natixis: + 0.14% to 4.28 euros, BNP Paribas: + 0.34% to 56.16 euros, Societe Generale: + 0.53% to 49.80 euros

The HSBC bank auxannonces resist.The first European bank has reported a taxable income in 2010, has more than doubled to 19 billion dollars (13.8 billion euros) but reduced its target for return on equity in the long term 12-15% against 15-19% previously.

France Telecom: -0.59% to 15.92 euros

The union CFE-CGC/Unsa France Telecom said on Sunday that he feared a "partial nationalization" of Orange Tunisia, a joint venture of the French operator, Tunisian authorities have announced the seizure of assets of the Group President Marwan Mabrouk.

Accor: -0.10% to 33.64 euros

Denis Hennequin, president and CEO of Accor wants to "work on the brands" and "awaken the spirit of innovation" Hotel Group which has just taken the reins, according to an interview published Sunday in Le Journal du Dimanche.

And if the Renault spy case was based on a simple internal settling of scores? Having missed so far, this track is not ruled according to a source close to the investigation quoted by Le Parisien on Saturday.

She says an employee of Renault 'close' to Michel Balthazar, former head of the division "upstream projects and services" of the company and laid off in January with two other executives, Matthieu Tenenbaum Rochette and Bertrand, was the author of the famous anonymous letter sent in late August at the direction of Renault.

"In May this year, I saw Michael Balthazard negotiate a jar of wine, claiming that if Bob Bell took advantage of F1, also wanted to enjoy it and feed his bank account," says the author literally. Without the quote, it also aims Matthew Tenenbaum."During another conversation, he (Michel Balthazar, Ed) spoke of a young man (Matthew Tenenbaum, Ed) which quickly understood how it works to fill his bank account," he adds.

Renault has made "mistakes"

Recognizing not have "no evidence", the "Raven" was threatening the management of Renault. "Without checking action on your part, I would not hesitate in a few weeks to send the letter to the press creditreport." But according to RTL radio, which obtained one of the anonymous letters, the document aimed Michel Balthazard contains "no details or overwhelming potential to advance the investigation."

Anyway, the contents of this letter plot."Who else but a close security service may Renault whether audits will be conducted?" Asks Maitre Thibault de Montbrial, lawyer Matthew Tenenbaum.

The Central Directorate of Internal Intelligence (DCRI), responsible for investigating this matter, and would guide his research on the environment "very close" to Michel Balthazard. A dozen people are suspected by investigators.

For its part, Renault, however, convinced he has been betrayed by three executives who allegedly leaked confidential information, now acknowledges having made "mistakes." And if the automaker had wrongfully dismissed three executives on false accusations from a "raven" still an employee of the group? This would then no longer one but two crises that the automaker should be managed.

ALSO READ:

"Espionage Renault: Carlos Ghosn is" shocked "

Covered with snow after the storm that hit on Sunday evening on the northeast coast of the United States, Wall Street closed on Monday in a disorganized, while the new rate hike Chinese, reached this weekend , invited investors to a certain caution.

At the close of U.S. stock markets, the Dow Jones folds of 0.16% at 11,555 points, the strandard & Poor's 500 and Nasdaq 100 grappillent both 0.06% to 1258 points and 2667 points.

No statistics on the agenda macroeconomic Monday, prompting investors to focus on the surprise hike in interest rates in China and, therefore, to mope. In fact, in principle, the operators do not respond well to a rise in interest rates. A reaction of defiance that could also be temporarily increased, during this holiday season digs.Indeed, low volume and volatility room can promote excessive reactions. Unclear whether, in this context, the few active investors will pay attention to news companies. Remains that 2010 has been a great year bone pourWall Street.

Viacom sells Harmonix and action is supported by Cisco Barron's

Despite the snow, wind and cold stores that had reopened Sunday after the closure of Christmas never empty, to the delight of retailers. However, cancellations of flights and trains, especially from Europe, have multiplied over the weekend. Many flights of British Airways (London market closed) and Virgin Atlantic, canceled Sunday were rescheduled for Monday payday loans for bad credit. Air Canada for its part warned that many flights might be canceled or delayed in the Atlantic regions of the country.

Viacom (0.56% to 39.39 dollars).U.S. media giant sold the studio Harmonix, creator of the licenses of music video games Guitar Hero and Rock Band, Columbus Nova, an investment company. The third quarter of 2010, Harmonix has recorded losses of about $ 300 million against a modest profit over the same period last year. Viacom bought Harmonix in 2006 to 175 million dollars. Harmonix takes note of this decision and looks forward to once again become independent.

As for Cisco Systems (2.39% to 20.16 dollars), a barometer of the technology sector, its action would be undervalued and should increase by at least one-third from current levels, according to Barron's. In its Saturday edition, the U.S. financial weekly said that if Cisco is approaching its long-term growth in sales, and the stock should rise at least at its peak in 2007, $ 27 .Barron's said that investors had factored into the course "too much skepticism about the prospects for Cisco. Action Cisco closed last Thursday to 19.69 dollars.

Finally, the U.S. bank Goldman Sachs (1.43% to $ 170) has decided to link the payment of his bonus to long term performance "of its executives. Salaries and bonuses could reach a record level on Wall Street for 2010.

BP's woes are not finished. For the first time since the oil disaster which claimed 11 lives, the United States initiates legal proceedings to demand financial compensation to British oil giant.

In its complaint, the U.S. government also accuses BP, Transocean, Anadarko Petroleum, a subsidiary of the Japanese Mitsui MOEX and the insurer of BP, Lloyds of London, of violations of U.S. laws on the environment.

The Obama administration is joining dozens of individual complaints consolidated in federal court in New Orleans to form complaints partnership with several U.S. states. By joining these complaints, the Justice Department could play a major role in the legal steps of these procedures, including the presentation of key witnesses.

Other lawsuits are expected

The Wall Street Journal, these measures are only the first of a "burst" of lawsuits when the government and the companies involved are seeking responsible for oil spill caused by the explosion of the platform the Deepwater Horizon April 20 no fax payday advances. Last June, Barack Obama himself had promised to pay damages to the oil disaster at BP.

The explosion of the oil platform was subsequently claimed his place as CEO of BP's Tony Hayward on behalf of Bob Dudley. It was alleged that the former head of British oil giant's mismanagement of the crisis situation experienced by BP and especially his gaffes. Examples: "The Gulf of Mexico is a very big ocean.The amount of oil and dispersant that we put is tiny compared to the total volume of water "or" I think the environmental impact of this disaster will probably be very, very modest and finally "We are sorry for the disruption this has caused in their lives. Nobody wants more than me that it ends. I would get my life back. "

ALSO READ:

"BP still gets $ 7 billion

Two thirds of the Spanish air traffic controllers on strike since Friday night, began to regain their positions, 109 of 159 strikers. The Spanish Minister of Transport José Blanco announced on CNN + that the airspace of the country was now "totally open".

Traffic has not yet been able to take the big foreign companies and the national airline Iberia has already planned to cancel all flights until Sunday. The minister also does not return to normal traffic before 24 to 48 hours.

State of alert

The Spanish government had met this morning to decide what action to take to the air controllers' strike that paralyzed the country, and had declared a state of emergency. A fateful decision.Under this decree, air traffic controllers can be mobilized and strikers are punishable as criminal, up to the prison. This decision means "that the controllers are summoned to their posts and if not, they would be in the crime of disobedience under the military penal code," said Interior Minister Alfredo Perez Rubalcaba after a meeting Crisis Cabinet. This is the first time the government takes such a position since the death of General Franco in 1975.

On Friday the government had already assigned to the Army the responsibility for air traffic control. despite this, no traffic recovery has taken place this morning. Iberia and Ryanair even announced they were canceling all their flights until Sunday morning. Air France, KLM, Thai Airways and EasyJet also.Almost all of Spanish airspace has been closed since Friday night, whereas many Spaniards were preparing to leave Friday for a five-day long bridge, the beginning of next week being a holiday in Spain.

Opposition to the maximum working time

Air traffic controllers have abandoned their jobs late Friday afternoon to protest against a measure adopted shortly before the Council of Ministers, peaking at 1,670 hours per year working time.

This is part of the device of partial privatization of airport management Authority (Aena) adopted by the government under new anti-crisis measures. The Minister of Public Works, Jose Blanco, condemned what débryage wild as a form of "blackmail."

Tourism accounts for 11% of Spanish GDP and the Spanish hotel confederation said that these disruptions in air traffic would result in a shortfall of millions of euros for the industry and a blow in terms of tourist destination image Spain.

(With agencies)