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.

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%.

Vacationers should take their troubles patiently Tuesday night to Thursday early morning. These three days may indeed be synonymous disrupted air traffic at major airports of Paris and the provinces, due to a strike call launched by six unions of air traffic. Disturbances should begin on Tuesday evening and end Thursday afternoon, the time that the rotations of aircraft back to normal.

The Directorate General of Civil Aviation (DGCA) has asked airlines to remove 50% of flights at the airport of Orly and 20% of those expected at Roissy Charles de Gaulle.

In a statement, Air France announced that 100% of long-haul flights will be provided, and that 80% of its flights short and medium haul routes from Paris-Charles de Gaulle and 50% from Paris-Orly. "We can not exclude some flight cancellations throughout the day.Delays will also be possible, "the company said, calling his passengers to see the information updated in real time on its site, under" schedule "and" timeliness of flights, or by phone at 3654 and SMS sending their flight number to 63654 (eg by typing: AF2062).

For now, the information is covered in a trickle. The DGAC said that a strike slogan added "stormy weather that could disrupt traffic". More details are expected early Tuesday afternoon.

"A passage in force"

The CGT, CGC, FOR, UNSA UNSA-IESS and ICNA-call for mobilization to denounce the European program for creating Single Sky FABEC, and the dismantling of the DGAC.They denounce as in January and February, the establishment by the end of 2010, a single air control operator for France, Germany, Switzerland and the Benelux countries. "The creation of such a body fusion will inevitably lead to the dismantling of the DGAC, the structure was considered to be efficient in terms of cost, security and service to users," say the unions. Moreover, "this merger will mean the de facto release of all or part of his personal services and the scope of the State Civil Service.

Following the movements of the beginning of the year, negotiations were begun with the unions and a mediator, Gilles Savary. On Monday, a final meeting of conciliation before the strike failed to find common ground. "The executives had no room for negotiation, it was a meeting for nothing," said Olivier Joffrin (CGT).The Ombudsman shall submit a report in late July but the unions are pessimistic. But the CGT denounced a "forced passage in the middle of July."

"FABEC is necessary, besides the five other countries and partners for their unions are very favorable," assures yet a spokesman for the DGAC.

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Was expected. While economic growth in the Eurogroup countries remains low, the European Central Bank (ECB) kept its key interest rate Thursday at 1%, its lowest level for the 14th consecutive month.

Eurozone growth moderate and uneven in 2010

This choice is further agreed that European fears about debt had reappeared in recent weeks. "A change of course is not expected until at least the first half of 2011. As long as fiscal policy is restrictive and low growth, monetary policy needs to be expansionary so accommodating, "said Nicolas Bouzou, economist and founder of Aster. He added: "Higher interest rates would be justified if the growth in the euro area was between 2% and 2.5%. It is still far away. "

A trend confirmed by the ECB president himself Thursday during a news conference. It forecasts economic growth still modest and uneven in the euro zone in 2010.

Previously, the Bank of England had done the same, maintaining its rate at 0.5%.

The Fed could raise rates before the end of the year

The situation in the United States could change, according to Nicolas Bouzou. "The Fed is expected to increase by 50 basis points more than its interest rates before the end of the year." Therefore, the ECB does she not have him engage the right? "No, because the situation is different overseas. While the job market is still fragile but current levels of growth in the U.S. require a bit of back interest rates to prevent inflation from too much to leave again the rise, "he says.He considers, however, that higher interest rates the Fed would be beneficial for Europe. "It would accentuate the depreciation of the euro and thus encourage European exports," says the economist.

Your money banks interested again. The financial crisis, coupled with new regulations "gave all the players in the taste of traditional trades, collection of savings and lending, far from the glitz and the pitfalls of corporate finance and investment .

Against this backdrop of growing competition that the group-BPCE about 20% of retail banking in France-muscle ambitions. "We want to win market share," insists Olivier Klein, CEO of commercial banking and insurance BPCE since 1 April.

For the first time, in fact, the group born of the merger of People's banks and savings banks in 2009 was appointed a pilot common to both networks. But out of the question specialize signs, Savings on individuals and Banques Populaires on SMEs and professionals.

"These are two strong brands that do not say the same thing. The client does not confuse them and he chooses, "says Olivier Klein. And he concluded: "The 20 Banques Populaires and Caisses d'Epargne 17 are competing with each other on their own territory. The synergies are generated upstream in the production subsidiaries of which are shared in information systems or purchasing, for example. "Conquest through major campaigns such as that recently launched on the Squirrel young.

Reflecting on times

However, it is to protect margins. "We have no strategy to lower mortgage rates or increase deposit rates in order to take market share.We are already very competitive, "says the former head of the Caisse d'Epargne Rhône-Alpes, relativize:" The rates are not determinative paydayloans. Customers want especially well taken care of them. "

For him, in fact, "the revolution is accelerating customer" with individuals and other professionals who want butter, eat it, too … and the smile of the banker.

Mesh agencies, remote access and advisor, the banks must offer everything. Hence, a meticulous adaptation BPCE the group boasts of having initiated all directions. "Some Savings reflected at their hand on schedule to deliver on time can make appointments later to better serve the needs of large cities," reports Olivier Klein.Meanwhile, "we launch all channels of distribution: the bank on mobile, ready to Savings, will be in September at the Banques Populaires. It adds "a lot of work ergonomics to facilitate online purchases, such as life insurance contracts. Some banks have created BPCE equivalent of bank branches 100% online. At the same time, the computer must be reviewed to allow salespeople to track customers realize that their operations remotely. All these facilities where other signs seem more advanced. Decentralization own mutual groups do not promote rapid implementations.

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While industrial countries emerging from crisis levels weighted with historically high public debt, emerging markets display patterns much healthier. Their good resistance during the recession of 2009 and an underlying trend towards greater stability has attracted the interest of investors.

"We see a positive snowball effect on emerging market debt: a dozen countries have been under positive outlook by rating agencies, which herald a recovery of notes, analytical Anne-Sophie Girault, a specialist in this Market Aviva Investors. Moody's, Standard & Poor's and others see a positive view of the low debt ratio of developing countries, which averages less than 40% of gross domestic product. Twice as less developed countries.

The emerging markets have also gained credibility in the markets."They have improved their fundamentals, the local central banks are becoming more independent, inflation is under control and steering of public finances is good," Frank J. Nicolas, Natixis AM. And the economic outlook is much better than in Europe, for example.

Result: institutional investors have been interested for nearly ten months to market, providing stability. They take long positions. So far, only hedge funds were present in the short term, making the market very volatile. Today, the market is 360 billion of debt issued in dollars and 1.4 trillion dollars of debt issued in local currency.

Record demand

In this context, the demand for emerging market debt from the investment fund has beaten all records in the first half, according to the calculations of Aviva.At $ 31 billion, it almost reaches the levels of previous years in just five months.

Emerging now are they safe? "These are pseudo-safe investments," says Franck Nicolas. "Beware of Loved tobacco." Clearly, the emerging countries are always a risk of sudden reversal of the situation. And if their fundamentals, growth, inflation, debt-positive, "markets, very nervous now, can still cause a contagion" of the debt crisis in emerging countries, recognizes Anne-Sophie Girault.

With thirty media over 90 accredited foreign press wanted to book seats for the trial of Jerome Kerviel, the former Societe Generale trader accused of fraud by 4.9 billion euros starting on June 8. In total, the press service has accredited around 180 people, journalists and technical staff alike. This peak is explained by the spectacle that should be reserved where the trial will occur two of the most influential lawyers moments: Olivier Metzner and Jean Veil.

The first defending Jerome Kerviel. The tenor of 60 years is known for his extensive knowledge of procedures. The portrayals of him by his colleagues suggest a punctilious lawyer, knowing by heart the workings of criminal law and able to read three times on his client's case to find the tiniest flaw.It is these obsessions that allow it to release in 1983 of gang members, including some Public Enemy, thanks to the discovery of a possible problem of not respected by the judge. The technical file Kerviel suits him: the lawyer had already sifted through piles of documents sent by Societe Generale and promises to update all the contradictions legal exonerate his client.

His international reputation, and ability to move from organized crime to politics, also explains the crowds at trial. Olivier Metzner was all big business in recent years: he has defended and obtained the release of Dominique de Villepin in the Clearstream case. He advises Continental in the Concorde trial.It also comes alongside the former dictator Manuel Noriega of Panama, the College of Physicians in its dispute with Dr. Stephane Delajoux, or alongside Françoise Bettencourt, daughter of the owner of L'Oreal.

"Lawyers for Kerviel serve us"

For Jean Veil, 62, Olivier Metzner mania of always wanting to delve deeper into the details of files, will play against him. Those who agreed to defend Societe Generale believes in an interview to Businessweek, "lawyers for Kerviel make us a great service. They ask questions that investigators did not pursue answers and contradict the thesis of Kerviel.

Olivier Metzner will be challenged as Jean Veil is also run in the pursuit of major trials. In his counter, the defense Dominique Strauss-Kahn in affair Mnef and the Credit Lyonnais deal with Bernard Tapie.Jean Veil is known for attracting a clientele but also many VIPs of CAC 40 companies, including Total and BNP Paribas. Jacques Chirac also benefits from advice through political and financial affairs.

This work is crazy lead two battles: the current defense of Guillaume Hannezo, former CFO of Vivendi-Universal, and co-accused Jean-Marie Messier and that of Societe Generale. He promised to defend the bank's reputation, harmed, he said, by the former trader.

The confrontation between the two men promised great moments. The planning of the trial announces first hearing Tuesday from 13.30. The battle that will engage the two tenors of the Paris bar 25 to last until Friday morning.No seat should remain free for long.

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Beware the "domino effect". This is the message that Louis Welsh, head of EADS, the European governments address in an interview with German newspaper Handelsblatt on Monday. "We tell our clients in government: we understand that you need to save money. But do not destroy the fundamentals of our industry. "For Louis Welsh, it is imperative to" protect the research and development "in Europe.

Keeping a stable euro

The boss of EADS look very closely monitoring the crisis of the euro. While the costs of aerospace group are charged in Euros and aircraft orders paid in dollars, the decline of the euro is good news in the medium term. However, Louis Welsh stressed the importance of stability of the euro.If he refuses to make any predictions on the future of the euro, the president of EADS warned European governments against excessive rigor.

The more so that the defense is particularly affected by fiscal efforts put in place either side of the Rhine. In Germany, the Defence Minister Karl-Theodor zu Guttenberg said that large spending cuts would be made. In France, the government should cut sharply in the 2011-2013 budget of the defense. According to Les Echos, fiscal discipline could cost between two and five billion euros to the defense the next three years.

"National priorities different"

Another concern expressed by Louis Welsh, the risk of every European country favor of "different national priorities," which would jeopardize the common defense different programs, such as the A400M military transport aircraft."That adds up to be a domino effect for the sector," warned the skipper of EADS. As negotiations dragged on, the group hopes to finalize the contract on the A400M customers with the seven countries (Germany, France, Spain, Great Britain, Belgium, Luxembourg and Turkey) "by the end of July," adds Does it pay day loan cash advances. The first copy of the A400M will be delivered to France in early 2013.

In this interview, Louis Welsh hopes to resume delivery of EADS Tiger combat helicopters to Germany this year. Berlin had suspended its order for 80 helicopters built by Eurocopter subsidiary of European giant last week due to technical problems. An order valued at 3 billion euros. "We deliver two new machines to the German pilot test in July.If the tests have a positive outcome, we can deliver five Tiger this year. "

Tensions around the tanker contract

Regarding the close battle opposing EADS Boeing to provide tanker aircraft to the U.S. Army, Louis Welsh rising tone. "We receive daily obscure and unfounded accusations of Boeing in the U.S.," says he. The American manufacturer EADS last Tuesday accused of attempting to develop trade relations with Iran and other countries hostile to the United States. Boeing advocates also believe that development aid granted to EADS and Airbus by European governments are illegal. "The growing nervousness Boeing shows that we have a chance to win," Louis Welsh analysis.

On the home front, EADS is not in lack of challenges.Decidedly optimistic, Louis Welsh ensures that the timetable for the A350, the future long-haul Airbus, will be honored with a commercial launch planned for 2013. Furthermore, the production of A380 superjumbo is now "under control". The program will return a profit within five years, says Louis Welsh. But everything will depend on developments in the euro-dollar.

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The CAC 40, its lowest level since July 29, 2009. For the week, the blue chip index fell 11.12%. Fear of contagion to other Greek countries of the euro area has made the markets nervous over the past week.

But on Monday, the atmosphere should be more relaxed, even if the night was tough for the leaders of the European Union. He has established a plan to help the euro area, and obtained from Spain and Portugal to announce new measures to reduce their deficit. Around 2:00 am, the EU finance ministers agreed on the establishment of a "European stabilization mechanism designed to preserve financial stability in Europe."

Warm welcome in stock: Asian stock markets move in the green Monday, and European markets should be reassured that Monday morning.Around 8:00, the futures contracts expire in May predicting an opening up of more than 4%.

However, gold continues to rate at its highest, indicating that investor nervousness remains high.

Michel Barnier on Wall Street

On Monday, the Bank of France must publish at 8:30 its business survey in industry for the month of April. Fifteen minutes later, INSEE unveil industrial production in March in France. In Germany, foreign trade in March will be monitored

In Europe, the "World Economic Forum opened on Monday for two days.Moreover, in the afternoon, Michel Barnier, European Commissioner for Financial Services, will deliver a speech on Wall Street Fast Cash Without a hassle.

Veolia confirms its objectives

Side values, Veolia Environment has issued Friday a consolidated sales down 4% at current exchange rates and 3.1% at constant exchange rates for the first quarter of 2010, to 8.7 billion euros. The group confirmed the targets set for 2010, namely "to generate a positive free cash flow after payment of dividends and earn a recurring operating income up."

Eiffage reported a sales decrease of 4.2% to 2.9 billion euros for the first quarter of 2010 due to declining revenues in its construction division due to weather at the beginning of the year.

Euler Hermes has announced a net profit almost tripled in the first quarter to 47.6 million euros, and confirmed he expects this year's results improved.

Orascom and France Telecom have unveiled Sunday details of the agreement they reached on their holdings in Mobinil, at the request of the Egyptian market regulator.

The Japanese company Toray Industries, a specialist in textile and carbon fiber, announced Monday it had reached an agreement 15 years until 2025, an unspecified amount, with the European aircraft manufacturer Airbus for the supply of composite, especially for the A350.

Once again, Apple imposes its views in Orange, SFR and Bouygues Telecom. For its release in France in late May, the touch pad, the iPad will not be sold in their shops. Duplicating its model designed in the U.S., Apple will book the sales in France to its own stores, both Apple Store opened late last year in Paris and Montpellier, its website and retail mix in electronics. Distributors Fnac, Darty and Boulanger, Surcouf, already used to sell iPhone and Mac, will be the four most affected, according to an industry source. This will involve "a large number of stores," said an already Darty spokesman told AFP.

The tablet, however, will not be found in the shops of the three operators.Then they hoped "to generate traffic with the curiosity that is likely to generate the iPad [...] Steve Jobs has imposed on them an absolute bar to" Les Echos noted Wednesday morning. Apple would indeed set the iPad closer to a computer than a smartphone. Orange, SFR and Bouygues Telecom will be content thus to propose specific plans for the 3G version of the iPad, as they already do for the iPhone paydayloans. According to the scenario under development, Apple will contact the operator chosen by the client to forward him a SIM card and Micro-activates its line. But all the steps and subscription management package will intervene directly on the iPad.

It is around the price and terms of these packages lie the remaining uncertainties.In the U.S., Apple set to AT & T plans to develop 3G no time commitment, to 14.99 dollars per month for 250 MB of data exchanged or 29.99 dollars for the unlimited. In France, the operator suggested that "the price and features of these packages will vary from the key 3G standard, which hover around 30 euros, according to Les Echos. In fact, they fear that the tablet from Apple, with its larger screen than the iPhone, is developing new uses more bandwidth-intensive, particularly video. This could bring down the price of subscriptions up. In the U.S. market, AT & T said, however, expect that the iPad achieve more WiFi version, thus saving the mobile network.

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