2010 marks a departure for French exports of military equipment. With a total of 5.12 billion euros, they are falling over 8.1 billion garnered in 2009 (6.5 billion in 2008). The objective of Paris was to beat all its records by signing for "at least 10 billion of export contracts" is more or less the equivalent of what the French army spending for its own every year.

Nevertheless, the government notes in the twelfth edition of its report to parliament on arms exports to France for 2010, "France has maintained fourth largest exporter of defense equipment (…) in a situation difficult ".

The world export market has stabilized at 70 billion euros.And in total military spending worldwide have slowed to 1.127 trillion euros, an increase of over 1% against a growth of 5% per year between 2001 and 2009. "Over the decade," the report notes, "the United States, the European Union, where Britain and France stand out, Russia and Israel share 90% of the export market."

The decline in export activity in 2010 due to the lag of several large contracts – as in 2009, with sales in Brazil of four submarines and 50 helicopters – that France hoped to sign the year last.

Remarkable performances

In discussions since 2009, the contract for the sale of two ships of projection and command (BPC) Mistral class in Russia was finally signed in June 2011 between DCNS and Rosoboronexport to 1.1 billion euros.It is therefore not recorded in 2010.

And ongoing negotiations with several countries to sell the Rafale combat aircraft built by Dassault Aviation, have not yet been completed. Among the most promising, the Brazilian has cooled with the decision of the President Rousseff to defer any decision to buy 36 fighter in 2012. The second, United Arab Emirates, is still active.

Negotiations, that France hoped to see succeed in 2010, continues with Abu Dhabi. Just over a week, Gerard Longuet had found that Paris had entered "a final negotiation." The defense minister had described as "very high" probability that the contract is concluded. France and the UAE have been negotiating the sale of 2008 copies of 60 Rafale.The French fighter is also short list in India along with the Eurofighter, developed by EADS, BAE and Finmeccanica to supply 126 aircraft to the Indian Army.

France can also expect to have the benefits of its commitment to Libya where the effectiveness of French equipment was again demonstrated (after including Afghanistan) under real conditions in a theater of operation. Of these, the performance of Tiger helicopters (EADS) and the Rafale, whose versatility allows him to perform all the tasks (surveillance, attack in depth, defensive etc.) were noted. "This is the only aircraft in the world capable of performing such a feat today," says a military engaged in Operation Harmattan.

For France, the stakes are high because the Rafale irrigates the French industry, including Ile-de-France and Aquitaine.The French fighter involved 500 industrial partners and represents more than 8000 jobs in total.

ALSO READ:

"The UAE may buy" Rafale "

"The state is negotiating with Dassault to buy drones

Be realistic when you ask borrow money using online payday loans. Do not borrow more than you can afford to pay back, even if they offer you more money.

Giving the trend of the European market yearlings, Deauville sales start today. For four days, 478 thoroughbred yearling will be auctioned in the ring establishment Elie de Brignac, located opposite the racecourse The Touques and completely renovated. Of these, 340 were born in France and "income" and therefore qualified for the bonus to the owner, in addition to the allowances paid if they win or place in racing gallop in France. The origin of most of England and Ireland, but also from Germany and some of United States.

After the disappointment registered last year (down 17% the average price of yearlings), the farmers hope that the market will recover. But the economy remains sluggish in Europe, Eric Hoyeau, president of Arqana, organizer of sales, remains cautious."Our goal is a slight increase compared to revenues in 2010, which was 29.3 million euros."

In the spring, some 2,000 yearlings were in the running. After examination of their pedigree, about 1000 were selected. Then, the teams toured Arqana stud farms to examine their model, their appearance, their health … In the end, they were divided between the two sales held in Deauville in August (the most prestigious) and October ."More balanced, combining quality and diversity, the 2011 catalog of the sale of August is an excellent year," said Eric Hoyeau.

Children of champions

No less than 114 stallions are represented, with a large battalion of son and daughters of very large foreign-based sires such as Danehill Dancer, Galileo, Dylan Thomas (35 000 euros per project), Duke of Marmalade (40 000 ) or Montjeu Dalakhani, father of Reliable Man, winner of last June's Prix du Jockey-Club cash advance to savings account.

Their children could burn the auction.For large investors or their representatives (brokers, coaches) from around the world (Britain, Ireland, Japan, USA …) on the Normandy coast, arriving with the hope to get your hands on foals or fillies may, at the age of three years, winning such prestigious races as the Prix du Jockey-Club, Diana, the Epsom Derby or the Prix de l'Arc de Triomphe.

But it would be very surprising that the sales record, established in 2002, beaten. At the time, Sheik Mohammed al-Maktoum did not hesitate to pay 2 million euros to buy the filly Vimy Ridge.

Owner of the Godolphin Stable, one of the largest in the world, the emir of Dubai buys yearlings in the world, like its brethren its re Sheikh Hamdan.Last year, their absence on the Normandy coast, because of Ramadan, and the discretion of their representatives were the main causes of the fall (- 28%) of revenues from sales of Deauville.

Although lagged ten days, sales fall again this year in the period of the Muslim religious festival. But the interest of Australian investors and Eastern Europe, including Russia, not to mention the strong French customer, could surprise on the upside.

ALSO READ:

"More than 400 thoroughbreds in Deauville Auction

"Air pocket in the yearling sales at Deauville

"The carefully selected yearlings for sale in Deauville

The Paris Bourse is holding its breath on Tuesday. The CAC 40, which was closed yesterday up, goes back to red at the opening, losing 0.73% to 3215.50 points. A trend that was accentuated with the release of German GDP is very disappointing. Deutsche Börse also accused the coup, the Dax falling by 2.40% to 5877.91 points. In London, the FTSE-100 index of the main values ​​lost 1.13% to 5290.35 points. Furthermore, the Madrid Stock Exchange lost 1.65%, that of Zurich 0.63% and 2.50% in Milan.

In addition to the sharp slowdown in the German economy, the Gross Domestic Products (GDP), Spanish and Dutch experienced a similar fate over the same period, rising by only 0.2%, respectively, and 0.1%, amid crisis debt.

In this context, the summit between Sarkozy and Merkel spent on the economic governance of the euro area is even more expected.Combined these on global markets, all eyes will be on the Elysee Palace in Paris to take place a meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy, to improve governance in the euro area . The two leaders will meet from 16 hours and hold a press conference around 18:30.

Investors already know that he must not expect miracles, especially not that the two largest economies in the euro zone agreed to set up Euro-bonds, which would be financially harmful to Berlin. "Do not expect anything dramatic" at the end of the meeting Monday said a spokesman for Angela Merkel, that "people expect once again a spectacular blow."It should only be to continue discussions on the governance of the euro area, following decisions taken by Heads of State and Government of the European end of July.

Operators still expect progress on this issue. "If nothing is announced, it will mean that there is a deep rift between Paris and Berlin markets can get excited again," warned Yves Marc, sales of shares in Global Equities.

Meanwhile, Asian markets have already set the tone with very mixed sessions, despite the good momentum on Wall Street, which closed yesterday on a sharp rise. Oil down with a barrel of "light sweet crude" that is losing 45 cents to 87.43 dollars and that of Brent which cedet 42 cents to 109.49 dollars.Sign of nervousness room, gold was up, quoting around 1767 dollars per ounce at the opening in Hong Kong dollars in 1744 against the previous day closing in New York.

German growth slows

In addition to the meeting, investors will be occupied by the many indicators that will be published on both sides of the Atlantic. Germany has announced a particularly sharp slowdown in growth in the second quarter. German gross domestic product (GDP) grew by only 0.1% in the second quarter compared to the first, where he still displayed an increase of 1.3%.

Economic growth also slowed in the second quarter in the euro area, 0.2% from 0.8% in the first quarter, according to data released Tuesday by the EU statistics office Eurostat.However, the euro area recorded a trade surplus of 900 million euros in June, after a surplus of 200 million in May.

In the U.S., markets will learn in the afternoon of housing starts, prices for import and export and especially of industrial production. This indicator is closely watched as markets worried about more and more sluggish growth of the world's largest economy.

Values ​​to follow

On the corporate side, the news is much thinner. Bank stocks are again followed. They fall before the meeting Sarkozy-Merkel. BNP Paribas (-1.63% to 36.91 euros), Societe Generale (-1.65% to 24.39 euros), Natixis (-2.34% to 3.04 euros), AXA (-1.69 % to 11.05 euros), Credit Agricole (-0.95% to 6.67 euros) take the rating down.

GDF Suez (-2.27% to 20.42 euros) is added to the list of preferred values ​​of UBS.

EADS (-2.50% to 21.46 euros): Russian Transaero airline will buy 12 Airbus A320. Qantas has in turn announced the purchase of 110 Airbus A320s and the deferral of delivery of six Airbus A380 jumbo jets.

The 2002 record will he fight? At the time, a sheik of Dubai had paid 2 million euros to offer at auction the mare Vimy Ri. The organizers of the traditional sale of yearlings (baby thoroughbreds) Deauville, whose next edition will take place from August 22 to 25, the hope.

Arqana sales company yesterday presented its catalog of 470 thoroughbreds. "Many would raise the stakes, especially from a father and a mother in very good race," says Alix Choppin de Janvry, Arqana, who expects "an excellent vintage combining quality and diversity" . "Buyers will observe primarily the shoulder of the yearling, her back, her legs should be straight, the tendons rather thin and his feet straight, she said, but some are more sensitive in terms of the animal."

No, they did not mention the nuclear phase-out. Yet, ministers of France, the country most nuclearized world, Germany and Switzerland, who recently engaged in the output of the atom, or even India, which built five reactors, sat at the same podium in Paris on Tuesday. Representatives from 33 countries were invited by the French presidency of the G8 and G20, provided by Nathalie Kosciusko-Morizet, to strengthen international cooperation in nuclear safety, three months after the onset of the disaster Fukushima.

The fallout from the nuclear accident in Japan are also far from being definitively known. "It will take years to take stock of this unprecedented occurrence," said yesterday in Paris the Japanese Minister Hideichi Okada, confirming a report that radioactive releases would have been twice as large as previously announced.While underscoring the magnitude of the disaster Fukushima, Luis Echavarri, director of the Nuclear Energy Agency (NEA), an offshoot of the OECD, has qualified by noting that the radiation in Fukushima "were killed Fortunately no one to date "while the tsunami killed more than 25,000 victims free business cards.

Beyond the unanimous call to strengthen international security standards and to learn from Fukushima reactors around the world and in the future plants, the Swiss Minister of Energy, Leuthard, hoped that the inspections and safety reviews conducted by foreign experts become "mandatory".

State responsibility

Like his German counterpart, Ursula Heinen-Esser, Doris Leuthard, whose country has just announced its nuclear phase-out, both expressed confidence in the ongoing process of "stress tests" of European central in the French safety, head of the reactors in Chooz, Bugey or Fessenheim, while close to Switzerland and Germany. The representative of the Merkel government, the age of a plant as Fessenheim (34 years) is not a concern since that "we invest in safety."

Indian Minister Srikumar Banerjee, for its part launched the idea of ​​laying down rules on State responsibility, which would be the scene of a nuclear accident against neighboring countries. A sensitive issue, "briefly mentioned" deserves "to be discussed more," said his counterpart allemande.F. N.-L.

The CAC 40 is struggling to bounce back Thursday. He began the day on a drop of 0.86% to 3930.59 points. The movement is otherwise identical to other European markets: featuring Dax index of the Frankfurt Stock Exchange opened down 0.85% at 7155.86 points while the FTSE-100 index of London Stock Exchange has started on a decline of 1.06% to 5965.02 points.

Yesterday, the benchmark index of the Paris Bourse was closed in the red, troubled by a series of disappointing indicators on growth and employment in the United States. Wall Street also ended a series of four consecutive increases for the same reasons, and this morning, Asian markets have followed this path. At the close in Japan, the Nikkei lost 1.69% to 9555.04 points

In addition, the debt crisis returned to haunt the Greek market.Greece seemed to approach Wednesday in an agreement with Europe and the IMF for further financial assistance, which could avoid insolvency. But the announcement a few hours later by a new Moody's downgrade of the Greek debt was added to the fears already heavy burden on Athens. Judging probable restructuring of the country's sovereign debt, Moody's downgraded three notches the rating of the country, pushing further into the speculative grade.

In this context, risk-taking should not be numerous. The activity will be minimal anyway since France, Ascension Thursday is a holiday. Upcoming Events, however, some indicators should capture the attention of investors present. It is essentially American with productivity quarterly, weekly jobless claims and industrial controls.

Note that the currency market, the euro remains strong against the greenback at 1.4362 dollar. Oil prices, they were down in electronic trading in Asia. In morning trading, a barrel of light sweet crude for July delivery yielded 21 cents to 100.08 dollars. That of Brent North Sea crude for delivery same lost 8 cents to 114.45 dollars.

Values ​​to follow

As for values, no news. Stay tuned, however:

The banking sector

High risk debt Greek, French banks react poorly to the degradation of the country note by Moody's. Societe Generale (-1.38% to EUR 39.96), Credit Agricole (-1.33% to 10.39 euros), BNP Paribas (-1.04% to 53.24 euros) and Natixis (-0, 52% to 3.62 euros) are all in red.

TF1: -1.20% to 12.39 euros

The group said Wednesday it had received offers "constructive" of several Internet service providers to distribute its pay-TV from 2012.

Trading in Gecimed remain suspended until the opening of the buyout offer followed by a withdrawal bond, its parent company Gecina (-0.85% to 99.15 euros). This opening will be later than June 8, after payment of dividend.

The CAC 40 in less than 4000 points, is even heckled on Monday that last weekend: the opening, the index appears back from 1.42% to 3934.36 points. This morning, Asian stock markets operated in the dark red, especially with the Nikkei falling more than 1.5% and the Shanghai index, which lost more than 2.4%. Friday night, Wall Street also ended in negative territory. Global markets are again worried by the European sovereign debt.

At the end of last week, two bad signals were launched: the degradation of three notches, to note the long-term debt of Greece by Fitch and placed under negative outlook from that of Italy by Standard and Poors.While in Spain, the protests continue for a week and local elections gave the losing party of José Luis Zapatero.

Thus in Europe, the Dax in Frankfurt dropped 1.45%, the FTSE in London, 1.35% and the Milan Mib fall of 3.11%.

A single digit to follow on Monday, the flash PMI for the month of May. The growth of activity in the private sector in France has slowed slightly in May to 60.5 against 62.4 in April, partly due to a slowdown in manufacturing, according to the survey Markit. The rest of the week looks very busy, however, including tomorrow's business survey in industry, employment figures Wednesday and the consumer confidence Friday. The Ifo index in Germany will be known Tuesday.American side, sales of new homes will be followed tomorrow, and the expenses and incomes of households, Michigan index, and promises of sales Friday.

In addition, while the battle over the estate of Dominique Strauss-Kahn to head the International Monetary Fund opens on Monday. And a G8 summit will be held Thursday and Friday next, to address among other issues on the major recommendations of the Internet, meeting tomorrow and Wednesday in Paris.

The euro hit by debt

Also concerned by the debts, the euro depreciates. The single currency is trading under $ 1.41, to 1.4061 dollar exactly. Raw materials side, oil is traded in the fall Monday morning in Asian trade. The market suffers from weak U.S. demand.

No publication of French company is expected Monday.At the bottom of the charts pening was that Veolia fall of 6.85%, PPR falling from 4.14% and Total, which folds to 2.91%. The bank is also snubbed: Agricultural Credit folds of 2.76% after S & P lowered the ratings of the bank heavily exposed to Greece, Societe Generale of 2.17% and 2.01% BNP Paribas. There is no increase on the Cac 40. In contrast to the SBF 120, there are three values ​​in the green: Yellow Pages: 0.27%, EDF EN, +0.09%, and Seb: +0.07%.

Europacorp is 1.18%. The film Tree of Life was produced by William Pohlad, distributed by Fox Searchlight, and Summit Intenrational Europacorp.

Note also, side companies, only four years after his last investigation, the Court of Auditors notes in a report that the financial situation of the social institutions of electricity and gas has further deteriorated.EDF (-0.78% to 28.52 euros) is directly concerned.

Also monitor the values ​​in the aviation sector while another isalndais volcano awoke this weekend. A cloud of ash could reach France on Thursday. Air France drops 4% after the first information that emerged from the black box flight from Rio to Paris créashé two years ago.

Carrefour has hired investment bank Lazard to consider merging its Brazilian subsidiary Companhia Brasileira de Distribuicao with (Grupo Pao de Acucar, GPA), a local leader in distribution, could be read in the Journal du Dimanche.

The Malaysian low cost airline AirAsia was ready to order more than 150 Airbus (EADS: -1.14% to 22.45 euros) A320 Neo (re-engined), with new engines more fuel efficient, for $ 13, 6 to 15,900,000,000 dollars, reported Monday the daily Les Echos.Furthermore, side EADS, Daimler hopes that the German state into its capital.

Renault (-1.08% to 39.05 euros): the state could benefit from replacing the number two automaker Patrick Pelata to advocate for reform at the head of the group according to Les Echos. The state would have more influence on the industrial choice and limit the power of Carlos Ghosn in particular through the recruitment of new blood.

If the court gives due Monday at the Association of Defence of Minority Shareholders (Adam), Hermes (-0.88% to 174 euros) could lose control of its general assembly on May 30 in favor of LVMH (-1, 68% to 117.05 euros).

Michelin (-0.86% to 62.39 euros) intends to market within three years unpneu which sets itself in the event of a puncture.

Operational performance achieved by EADS in the first quarter exceeded all expectations. The aerospace group was up 131% of its adjusted EBIT 192 million euros against 94.5 million euros expected. The turnover, meanwhile, rose 10% to 9.854 billion against 9.213 billion anticipated. This performance partly attributable to the dramatic turnaround performance of Airbus amid recovery in the aerospace industry.

On the quarter, Airbus sees its EBIT from 7 to 115 million and its turnover increase by 12% to 7.013 billion. The European group of aerospace and defense, parent company of Airbus, has also recorded a backlog of 422 billion euros in the first quarter, including 375 billion for Airbus.The pan-European group also states that he is considering a decision "imminent" regarding a further increase in production rate of single-aisle Airbus to meet the global recovery of air traffic.

The group posted a record net cash of 12.2 billion euros at end-March against 11.9 billion in late 2010.

Targets confirmed

Small downside, however, the steady rise of the euro against the greenback on track to $ 1 payday loan lenders.50 throughout the first quarter was prejudicial to EADS.The aerospace group sees its accounts and ironed in the red on the first three months of the year, the pan-European group recorded a net loss of 12 million euros against a profit of 103 million a year earlier.

In fact, the group that produces its products in the eurozone and the exports to the United States has been particularly affected by changes in exchange rates between the euro and the dollar over the quarter. The Executive Chairman Louis Welsh had recently indicated that each increase of 10 cents of the euro against the dollar cost his group one billion euros in terms of annual operating profit.

This does not EADS confirmed its objectives for 2011, namely a growth in turnover and a rise in operating profit (EBIT) before special items compared to the stable level of 1.3 billion euros in 2010.

ALSO READ:

"Airbus / Power 8: targets exceeded

Google has decided to pursue music online without the majors. Tuesday night, the Internet Group is expected to announce the launch of Google Music, which has given rise to any license agreement with record companies. "Some major labels have not shown enough collaborative and have frankly been unreasonable demands, which did not allow us to design a product in a sustainable model," explains New York Times Jamie Rosenberg, head of digital content to Android.

To get into the music without the record companies, Google has imitated Amazon, which launched a similar service in March. Instead of selling songs for download as iTunes or offer a catalog of streaming music to how to Deezer and Spotify, it will invite users to send the songs stored on their hard drives.Google will duplicate these music libraries on their own servers, and offer to be accessed remotely for free.

According to Google, this model does not pose any legal problem. "This is really a storage service personnel, such as when you transfer music to an iPad or a backup hard drive, so this service does not require a license from the music industry," says Jamie Rosenberg. The major labels are of a different opinion. At the exit from Amazon Cloud Service, a representative of Sony Music had warned that "all legal options" could be considered. Without specifying which ones.

The discussions are not broken

First launched in beta, invitation only to the U.S. Internet, Google Music will allow for the time of storing 20,000 songs for free (against 1000 for Amazon).Customers can listen to them on another computer, a phone or a tablet Android compatible with Flash, and create playlists. The audio quality could reach 320kbps, depending on Billboard magazine's website. Some additional songs will be added for free Internet in libraries.

Like Amazon, Google hopes, however, improve its service by picking up an agreement with the majors, on terms more favorable to it. A license would allow its users to save the tedious step of sending the pieces on Google's servers, since music is already stored there previously. The economic model is then similar to that of music streaming, which pays artists based on number of plays. That's what Apple would seek, which could soon launch such a service.Her clients enjoy access to all their titles on the iPhone, iPad or iPod without having to synchronize each time with a computer.

"I read too often that Sodexo is a leader in Catering, complains Michel Landel, chief executive of the group. Sodexo is no longer a catering company. We have developed expertise in other trades. Today, we offer comprehensive solutions that include food services. "To illustrate his development, the boss added:" We take care of all our customers, but their job! It is a unique and original position. "

Sodexo still remains the world number two catering, behind Britain's Compass. This activity still accounts for 70% of its turnover! But for several years, this percentage tends to decline in favor of other benefits, growth and higher margins.

Sodexo now offers services ranging from assistance for the reintegration of prisoners, janitorial company and maintain medical equipment in hospitals. This year the group has won a contract with Nokia in China, to handle the technical maintenance of production plants phones manufacturer in Beijing and southern China. United States, the company was chosen by the city of Detroit for the restoration of 101,000 students in 136 public schools paydayloan… But it will also provide maintenance, cleaning and maintenance of buildings and green spaces. Nothing to see, therefore, with the restoration …

Accelerate diversification

"While the food services grew on average by 3.5%, other services rose by 7.8% and their share rose from 18% to 25% of sales in four years," said Michel Landel .In 2008, Sodexo had bought the German Zehnacker, offering in Germany, Austria, Switzerland and Poland services to hospitals.

To accelerate diversification, Michel Landel is considering new "small or medium-sized" acquisitions, outside catering. Irrespective of these potential acquisitions, he pointed to the prospect of 4.5% growth in turnover, while confirming the annual target for operating income up about 10%.

ALSO READ:

"INTERVIEW – Michel Landel:" Sodexo runs through the crisis "