A lost decade for stocks in Paris. In the past ten years, the CAC 40 has gone through five years of crisis. The toll was heavy: while September 4, 2000, the benchmark index of the Paris stock touched its record high, rating it at 6944.77 points at the meeting, boosted by a phenomenal Internet bubble, he moves painfully about the 3600 points TODAY 'hui.

If the current situation is rather gloomy, the atmosphere, in the late 1990s, was euphoric to say the least. The tech bubble that began in 1995 with the IPO of Netscape – sensational – escalated beyond reason with the explosive growth of telecommunications (France Telecom was by far the largest accumulation of ACC 40) and the phenomenon of start-ups. The world has welcomed the Internet as a revolution that would change the world, characterized by prosperity, easy money and speculation.The shares were outbid unconnected with the reality of companies' accounts.

When the time has come to the realization, the descent into hell has begun. On March 13, 2000 in New York, the Nasdaq index of technology stocks at the time (eBay, Yahoo, AOL …) suddenly picks up and puts an end to five years of consecutive increase. The European market will suffer a few months later and will suffer the same mass layoffs.

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At 14:30, all financial markets will have their eyes riveted on the U.S.. It was at that time that the unemployment figures across the Atlantic for the month of August will be published. Given the caution with which the New York markets were closed Thursday and Europe, uncertainty should continue this Friday until the publication of these figures. At the opening, the CAC 40 rose 0.29% to 3642 points.

"It does not happen much on the markets, who are eagerly awaiting the unemployment figures of the United States, says it in the rooms. Is a very important day. Nobody wants to get new paris before this indicator. Investors prefer to wait and see what is the recovery. "He added: "If the numbers are bad, I think the markets will fall heavily and not only Friday, but next week."

Pending the U.S. unemployment

Despite a slight decline as unexpected new listings weekly unemployment across the Atlantic on Thursday, the Labor Department is expected to announce this afternoon an increase in unemployment to 9.6%."The GDP is not growing fast enough to create hundreds of thousands of new jobs needed each month to reduce employment at its level before the crisis," said Christina Romer Thursday, who will leave at the end of the week his position as economic advisor of President Barack Obama.

Also across the Atlantic in 16 hours, the ISM index of activity in services for the month of August and a speech from Fed chairman in Atlanta, Dennis Lockhart on current economic conditions are also scheduled .

For the euro area, will be published in Composite PMI and Services for the month of August (10:00) and retail sales for the month of July (11:00) no fax payday loans.

The meeting will be much calmer on the microeconomic front, in the absence of publications, the wave of results for this quarter coming to an end the Paris Bourse.

Values follow

Investors monitor the value of France Telecom, however. The chief operator, Stéphane Richard, told Reuters on Thursday on the sidelines of the MEDEF Summer University he was confident in the outcome of discussions with Canal + on the fusion of TV Orange Cinema Series and TPS Star. It will also try to convince the government not to raise VAT on offers "triple play".

Air France plans to create a structure "low cost" for medium-haul routes, especially between Orly and the province to counter the offensive of the British low cost airline EasyJet.

The Slovak government has decided to retire to a consortium led by Bouygues a road construction project of $ 3.3 billion through a public-private partnership announced Thursday, Slovak Minister of Transport, Jan Figel.

Venezuela will pay approximately $ 600 million (468 million euros) in Casino and other shareholders of the supermarket chain Exito nationalized in January, said Thursday in President Hugo Chavez.

Vinci said on Thursday the acquisition by its subsidiary of Vinci Park UK Meteor Parking which achieves annual turnover of approximately 50 million pounds (60 million euros), enabling it to become number four in the sector United Kingdom.

LVMH: A court decision is expected this Friday on an appeal by eBay, convicted in 2008 for dissemination and distribution of counterfeit perfume off approved.

The report Roussely "makes everything from scratch," says one minister who claims to have read the full version. The summary released Tuesday, which has probably erased the strongest criticism against the EPR and dissension between players of the team of France's nuclear confirms.

The EPR to review

"The EPR is unsellable!" It is the summary, very raw, made by a government report's findings Roussely. In the version now public, it says still that "the complexity of the resulting EPR design choices, including the level of power (1,650 megawatts, MW), (…) is certainly a handicap for its implementation and costs. The report recommends a "value", which will be waged not only by its manufacturer, Areva, but also by EDF.

The TTY, a new reactor

The Elysee Palace announced that the range of proposed reactor would be enlarged.The average reactor power (1 000-1 150 MW), the TDD, developed by Areva with Japan's Mitsubishi, is reinforced. And, adds the Elysee, more lenient than Roussely with atomic ambitions Mestrallet, GDF Suez will be "associated" with its certification.

Areva will not be dismantled

Mentioned a few months ago, the dismantling of Areva was quickly dismissed by Francois Roussely. Two reasons: Areva offers a complete service to its clients elsewhere in the integrated model "would spread the financial risk and ensure profitability Honourable average in every cycle," the report said.

A Department of Energy

The Elysee has not taken the number one recommendation of the report: "create a Department of Energy. Energy is currently under the tutelage of the vast Department of Ecology Jean-Louis Borloo, who claims consistency.Alternative proposed by Francois Roussely: General Secretariat of Energy. The idea is in any case that the state retains control over the sector.

Open mining Areva

The nuclear group is the largest producer of uranium in the world. This work is very consuming capital. Or Areva in dire need right now. The report mentions the Roussely creation of a new mining company in which Areva would bring its mines and it would retain a majority stake. The other shareholders could be its customers, including EDF, the first of them. Without being very specific, the head of state does not preclude such a scenario. "Partnerships for industrial mining of Areva, which may include a capital dimension, will be discussed," said the Elysee statement said.It is not clear so far whether Eramet (Nickel), 26% owned by Areva, will participate in one way or another to the mining company.

Wear the life of plants to 60 years

Francois Roussely judge that longer duration of twenty years of French reactors strengthens the economic competitiveness of nuclear power. But security will prevail on the extension.

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Aeroports de Paris (ADP) plans to renovate the terminal at Roissy and Orly airports and to begin to improve the quality of service. The group, which manages the airports of Roissy Charles de Gaulle, Orly and Le Bourget, has indeed signed on Monday the new terms of economic regulation (CRE) with the State for 2011-2015. This includes an investment program of nearly 1.8 billion euros "primarily oriented towards improving customer satisfaction, the operational efficiency and optimization of existing capacity" according to the contract.

At Roissy, ADP plans to completely renovate the terminal 2B to $ 90 million over the next five years to operate the satellite terminal 2E S4 in the third quarter of 2012. The renovation of a satellite terminal should also continue.

The group also wants to complete the connection between terminals 2A and 2C in the second quarter of 2012 and the terminal 2F adapt to accommodate a full traffic to and from the Schengen area. At Orly, the halls 3 and 4 should also be reconfigured by 2015.

Measuring the satisfaction of passengers

ADP focuses on "quality of service and improved customer satisfaction." Ten indicators are established to assess the satisfaction of passengers, including cleanliness, signage and information, but also the availability of equipment in the terminals.

Finally, EPA sets a maximum annual increase of airport charges at 1.38% above inflation.

The group has also confirmed a reduction of 2% per annum of its workforce between 2011 and 2015.

Around 14:30, as the EPA has one of the finest performances of the CAC 40: it rose from 4.40% to 56.47 euros on a market down by 0.39%.

The Indians had the Nano, the cheapest car in the world. The students in the country, they are in primary school or university, may affect next year shelf fourteen times less expensive than Apple iPad. Thursday, Minister of Human Resources and Development, Kapil Sibal, presented a prototype computer only 35 dollars (27 euros). "This is part of a national initiative to advance education," said the minister, warning that "the solutions for tomorrow will come from India."

The announced $ 35 nonetheless remains entirely at the cost of the final product, but at the cost of all its parts. What remains still far from the $ 235 materials included in the first iPad, according to estimates from iSuppli. To reach this amount, the Indian teams have bet on free software and a more conventional design.The Indian touch pad will have 2 GB of memory, Wi-Fi and USB ports. It will have video conferencing capabilities, will be able to read most common office formats, PDFs and video, and of course surf the Internet. An optional solar charging was also discussed. In parallel, broadband will be installed in all the 22,000 Indian colleges.

"Our response to the computer to $ 100"

With this initiative, the Indian government seeks to empower the world's most modern educational No checking account payday advance. The literacy rate in the country remains 63% below those of other developing countries. But the achievement also sounds like a technological challenge launched in the United States.The Indian shelf was designed by a group of academics, after that IT groups have shown little enthusiasm for such a project. "This is our response to the $ 100 computer at MIT (Massachusetts Institute of Technology), launched by the Minister Kapil Sibal said, referring to the U.S. initiative" One Laptop per Child ", whose price has finally doubled because of difficulties of large-scale production.

With this initiative, India does not want to experience the same disappointments. Kapil Sibal assures that the tablet is already "real and tangible. India is currently negotiating with several subcontractors to begin mass production. One million computers should be produced during the first phase of launch. The deployment will begin in the universities, before being extended to primary and secondary.The government could finance the purchase of computers by 50%. Ultimately, the goal is to reduce the cost only ten dollars.

The video presentation of the tablet:

Meanwhile measure the effects of the broad financial reform approved by Congress, the giants of Wall Street continued their slow recovery. Citigroup, which had managed to exit the first quarter of 2010 after losing a total of $ 29 billion between 2008 and 2009, has confirmed his return to profits between March and June The third U.S. lender has reported net earnings of $ 2.7 billion, down 37% over a year. For its part, Bank of America, the first U.S. retail bank, posted net income of $ 3.1 billion, a slight decrease of 4%. The day before, JPMorgan had announced a profit of 4.8 billion, up 76%.

If the performance of these three giants of Wall Street have exceeded the expectations of financial analysts, they are far from convincing.The banks, in effect, save their profits fall in provisions for doubtful debts, which remain however very high levels. At Citigroup, they have a charge of $ 6.7 billion, the lowest in almost three years. For Bank of America, the drain $ 8.1 billion against $ 9.8 billion in the first quarter and still $ 16.4 billion a year ago pay day loan lenders.

Less capital raising

More than three years after the start of the crisis in the housing, the improvement of conditions in the shy USA relieves borrowers. But business remains sluggish, as evidenced by the decrease in revenues of large banks: – 33% for Citigroup – 18% for Bank of America – 7% for JPMorgan. The great challenge for these players is to reach boost their sales."It will be several more quarters to see a sustainable activity," warns Brian Moynihan, the CEO of Bank of America.

Last year, the Wall Street banks had managed to offset the gloom with an exceptional year in the investment bank, with capital raising records. Alas, this windfall is gone and instead the second quarter under the sign of the crisis of European sovereign countries was characterized by high volatility and lower risk appetite. This scenario weighs on commissions and revenue from emissions trading.

A year after its introduction, the majority and the government seem divided on VAT at 5.5% in restaurants. To reduce the government deficit, Budget Minister Francois Baroin, this plane would "very, very large niche for tax, estimated at 3 billion euros Bercy. Its minister, Christine Lagarde, has cropped Tuesday morning: the reduced rate of VAT "is legitimate on the merits.

But the revolt against the old promise of Jacques Chirac, applied from 1 July 2009 thanks to the activism of Nicolas Sarkozy, also scolded the Assembly. Without naming the VAT on food, the general rapporteur for the Budget, Gilles Carrez (UMP), has questioned "a number of consumer items that are 5.5% and that should not be at 5.5 %. He advocates instead an intermediate rate to 12%.

Since the introduction of the measure for the restoration, the context is not the same.The government, which has hitherto led a recovery policy, had to change tack in recent months under pressure from the markets. It is now to reduce the deficit. Especially in the planing tax loopholes.

Nevertheless, the statements and Gilles Carrez Baroin were poorly received by restaurants. "It's absolutely outrageous to say that the 5.5% VAT tax is a niche!" Reacts Philippe Villalon, president of the National Federation of the restoration (FNRF). "We buy our products and we sell 5,5% to 5.5%. As is the case for all areas of the mouth.Moreover, if we repeat the policies they want to end VAT at 5.5%, we should not translate that we lower our prices, nor that we hired, as the state would break its part of contract. "

During the implementation of the measure, the restorers had promised to lower prices, to invest and hire. These commitments, which would take over in case of cancellation of VAT at 5.5%, would have been more or less respected. The Court of Auditors estimated last October that the measure would involve only 6,000 new jobs. The profession claims to the contrary today promised 21,700 against 20,000 a year.

In the end, the French are thus two and a half times poorer than the inhabitants of the Duchy.

But figures published by Eurostat, taking the ratio between GDP and population of the European Union as a base, can mainly classify countries into two categories: those whose standard of living is higher than the European average, and those where it is smaller. Thirteen states are the first set. Ireland has a particular wealth per capita higher than 31% the EU average. Followed by the Netherlands (30%), Austria (24%), Sweden (20%). France takes the eleventh largest with 7% above the average. Bulgaria ranks dead last with a per capita wealth less than 59% above the average of the 27 states.

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The tone rises between the administration of Barack Obama and BP. The head of the American branch of the oil company, Lamar McKay, said Tuesday at a hearing in Congress, he refused to promise the creation of an escrow account to compensate victims of oil spills in the Gulf of Mexico. The $ 20 billion has been raised in a letter to the CEO of BP, Tony Hayward. "I am not able to tell if an account is established or not," said Lamar McKay. "I can not commit, either one way or the other"

The idea had been raised by the White House. Several members of Congress while announcing their desire to put pressure on BP to put it in receivership on payment of its dividend in order to ensure compensation for victims of the disaster, compared to a "September 11th green" by Barack Obama.

According to the White House press secretary, Robert Gibbs, is already preparing the risposta in the Oval Office. Barack Obama will "be forced either to reach an agreement with BP to withdraw their control of the process of claims and entrusted to an independent structure, so that people who have been harmed to obtain the money they is due, "said the spokesman. The administration is based on the polluter pays law in force in the United States, which requires BP to pay the costs of plugging the leak of oil, cleaning the polluted coastline and compensation for victims.Traveling in Pensacola Beach, Florida, Bush assured the residents affected by the oil spill that would "whatever it takes, as long as it takes to be sure that BP is paying for the damage that it has caused.

An oration

President Barack Obama has formally addressed his countrymen on Tuesday at 8:00 p.m. (2:00 am, Paris time). He will be speaking from the Oval Office of the White House, space reserved for the most serious crises and whom he'd never used a speech to the nation.

A senior, Bush will announce the appointment of a person responsible for restoring long-term disaster areas by the oil spill that pollutes the Gulf of Mexico. The "czar" as the American press dubbed the mission will be to "restore the Gulf of Mexico.Not to where it was the day when the accident occurred. But to restore it to where it was years ago: to increase the life and vitality of the species, wildlife and natural beauty that characterizes the Gulf of Mexico, "said Robert Gibbs.

Barack Obama will set out above "the need to reduce our dependence vis-a-vis oil and fossil fuels. He will also discuss the "changes necessary for such a disaster never happens again more. According to an anonymous source, the U.S. president will "present the measures taken to protect those who suffer financially from this disaster, especially during the process of compensation."

"The tragedy was avoidable

Under pressure, BP must also face competition that dares to push it."I am convinced that the independent investigation will show that this tragedy was preventable," and called John Watson, head of oil company Chevron to members of the Committee on Energy and Commerce House of Representatives. The explosion and the sinking of the platform in late April Deepwater Horizon "show once again that all companies must work under the same strict safety and reliability. It is obvious that not following these rules has serious consequences, "he added.

"It is imperative that an investigation expert, impartial and comprehensive investigation takes place, because this incident represents a serious breach of standards relating to offshore drilling, for his part stressed the boss of ExxonMobil, Rex Tillerson .

In addition to the Chevron boss and ExxonMobil, ConocoPhillips and Shell were present. Facing them, Lamar McKay attempted to defend his group."I want to make things clear: BP will know no rest until the wells will not be under control and that we do not understand what happened," he said.

Ficth puts his two cents

BP has several weeks to manage its bad reputation. The group would also relies on advisers to help him. The efforts required will be considerable, especially since the rating agency Fitch has come to contribute to the debate on Tuesday, lowering the notches of six notes of the British major. The latter is now BBB AA cons. Fitch maintains it under "surveillance implications". The rating agency is particularly concerned that BP may be forced by U.S. authorities to place large sums into accounts in receivership.This is the first time that the note of BP is lowered several notches by the three leading rating agencies worldwide and it falls below the AA.

At the London Stock Exchange, BP shares ended the session on a further drop of 3.78% to 342 pence while the FTSE close up on 0.30%. In New York, the action is able to earn 2.18% to 31.31 dollars during the session on a market up 1.22%.

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A simple dinner could become a diplomatic incident. According to a report published Friday by the Financial Times, and contrary to the Elysee Palace announced last June 7 in a statement, it is not Germany but France, which had decided to defer maintenance President of the Republic with the German Chancellor, Angela Merkel, scheduled for June 7. And according to the spokesman for Angela Merkel, Ulrich Wilhelm, the reason is not political. Nicolas Sarkozy would simply not worked well enough on his record in terms of rigor of Germany. What irritates especially in Germany. "Manipulation of France was unnecessary," said the spokesman of the Chancellor. At the initative of France, both countries have agreed to postpone the appointment.Contacted by telephone, the Elysee was not immediately available to respond to this information.

No disagreement between Merkel and Sarkozy

Despite these blunders, the spokesman for Angela Merkel was quick to point out that there was no disagreement between the two governments.

Earlier this week, Nicolas Sarkozy had expressed doubts about the austerity plan of Germany. "If we add to the austerity of austerity, we will go into recession." France hoped that the German recovery stronger domestic demand to balance the trade balance of the euro area.

The two leaders have postponed this meeting to June 14, three days before the European Council summit to be held in Brussels.

The stock market had reacted badly to the announcement of the cancellation of the meeting. The CAC 40 had lost more than 1% at closing."Although both parties argue for scheduling reasons, they will not prevent financial markets interpret this delay as the collapse in the open non-functioning of the Franco-German one hand and a state of panic among the other European states, analysis Nicolas Bouzou, economist at Aster.

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