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A race against time. On Monday, the French stage will present at the National Rugby Marcoussis, before the DNACG (National Directorate of assistance and management control) financial guarantees as to the survival of the Parisian club, after the fraud case linked Facem the Canadian Foundation (Foundation for the Improvement of children in the world).

Still two million find

The figure is known, the French stage has a deficit of 6 million euros to be filled Monday. Bernard Laporte would have found new investors. But after the spectacular failure of Facem, the pool of investors formed by the Englishman Richard Pool-Jones, former player for the club, has also been reactivated, with the help of Serge Kampf, CEO of Capgemini and a great patron of rugby French, and former international Jean-Pierre Rives.The DNACG, before which the Parisian club had already presented in May, is now more demanding, it expects 12.6 million euros in guarantees, in the amount that would normally Facem injected. The round of Pool-Jones would have raised 8 million – the amount initially met – and another 2 million could be saved by reviewing the operating mode of the Parisian club. Remains yet to find 2 million euros to avoid the gauntlet of the "financial policeman" of French rugby. The question is which of the two solutions will be chosen.

A bloated workforce that will have to degrease

Ironically, the missing 2 million in the plane of Pool-Jones correspond to expenses incurred in recruiting high-end by the French stage version which had Laporte on 20 million euros pledged by the Facem but are never arrived.

A total of 19 players have committed to the Paris Club, including the Argentine Felipe Contepomi, New Zealand's Byron Kelleher and Paul Sackey English free instant credit score. The wage bill had increased to 8 million euros. Another nod, the signature of South Africans Mostert and Van Zyl was announced just minutes before the revelation of the scam. Tuesday afternoon, already aware of the shock, the agents were in turmoil, many trying to resettle their foals outside the capital. Obvious: we'll have to degrease the mammoth. Pascal Pape and David Attoub could rebound in Lyon, recently promoted to Top 14. Bastareaud, who wishes to engage with Toulon but is retained by Bernard Laporte, will get the proper output in the coming days. Mourad Boudjellal, the president of RCT, intention, however, take advantage of the situation. "The first thing that the French stage recovers.I prefer to renegotiate with Max Guazzini and Bernard Laporte in top form in this situation. I really do not want to take advantage, "he said Friday in Var Matin.

Laporte, a return that is like a slap in the face

It would revive the French stage, it could remain who precipitated his fall. Without money from the Facem (three related to this foundation have since been placed in custody), there is nothing. Former Secretary of State for Sport has played with fire. He has left € 170,000 under the guarantees. Salagoïty Francis, former president of the Bayonne where "Bernie" was a brief passage, drives the point home in South West: "Everyone will understand that my apprehensions were based on Bernard Laporte." The only way to bounce back is that the new rescue plan is adopted.In either case, it is rumored that Serge Kampf would not want to hear about it …

The disappointment that followed the release Friday of the bad employment numbers in the United States extends to Asia Scholar. On Monday, key regional markets receding in the wake of Wall Street has ended the week on a clear downward. In May, the U.S. has created only 54,000 jobs, which is three times less than expected and not enough to prevent a rise in unemployment to 9.1%, against 8.9% expected. Enough to worry the markets on the strength of the recovery across the Atlantic.

At a time of closure, the Nikkei, Tokyo Stock Exchange lost 0.63% in 9432 and points after starting down 0.26%. The rating is pulled down by the action of the utility TEPCO, which drops from 25.9% to 7 hours.Investors sold heavily to the track operator Fukushima after the publication of an article by Kyodo news agency on Sunday, saying the company could record a net loss of 570 billion yen in fiscal year from April 2011 to March 2012 (4.9 billion euros at current rate), excluding the compensation due to victims of the nuclear accident. In its wake, as Chubu Electric Power Co. also dropped 8%.

In the rest of the region, the red is also relevant. The Indian Sensex lost 0.31% while in Australia, the S & P coward 0.37%, weighed down by mining stocks Rio Tinto (-0.85%) and BHP Billiton (-0.81%). Note that the stock exchanges of Hong Kong, Shanghai and Seoul were closed for holiday.

Oil without direction

Oil prices were for their part without leadership in electronic trading in Asia in anticipation of an OPEC meeting in Vienna on Wednesday, dealers said. In morning trading, a barrel of light sweet crude for July delivery gained 8 cents to 100.30 dollars and that of Brent North Sea crude for delivery the same declined by 6 cents to 115.78 dollars.

The Organization of Petroleum Exporting Countries (OPEC), which meets Wednesday on the bottom of sinking of the Libyan crisis, should leave its production quotas unchanged, despite soaring crude prices and increased pressure on consumer countries, analysts said.

Otis, Crossroads Market, Carrard Services … These three companies have one thing in common: they face these days in a strike of their employees who claim to be better working conditions or wage increases, sometimes both. How original you might say, to see employees' strike "because they are dissatisfied? Not much except that the term "strike" was historically a very different meaning.

The word "strike" originated on the "Place de Greve," the name given to the middle of the twelfth century to the scope in front of City Hall of Paris. It was a beach of sand and gravel which stows the goods (wood, wheat, hay, wine …) arrived by the Seine and ended up where, each morning at dawn, workers without work seeking employers for the day.This "Place de Grève" was then a scholarship to work and place of employment for the unemployed. In short, an employment center before time …

This concentration of workers who were not working but looking for a job … was called "strikers." Hence the emergence then of "strike" which means "look for a job." A sense diametrically opposite to that of today …

On Wednesday, red dominates the financial markets of the Asia-Pacific. No big worry, however, the observed declines are not so high that early in the week. The downward trend continues and background, like the Nikkei, which fell by 0.42% at 9437.04 points and the broader Topix index, which bends from 0.17% to 817.80 points. The crisis of European debt remains in the minds of investors even if the concerns seem to fade a little. Last night, Wall Street ended the session down slightly too.

In China, same atmosphere. The Hang Seng in Hong Kong dropped 0.55% to 22,604.76 points. Note that the action of the Swiss giant Glencore commodities showed a decline of 2.8% for its first day of listing on the Stock Exchange of Hong Kong, following its introduction to the London Stock Exchange where he finished in small decline. In Shanghai, the CSI yields more timidly 0.13% to 3022.36 points.India and its main BSE index down 0.50% to 17,921.56 points. And in Singapore, the Straits Times down 0.39% at 3100.90 points.

In Australia, the red is darker: the S & P / ASX retrograde from 0.90% to 4587 points. Its neighbor New Zealand succeeds him to climb into the green, clawing 0.14% to 3564.44 points.

The decline in oil, profit taking

Oil prices were trending lower Wednesday in electronic trading in Asia, due to a decline in energy demand in the U.S. and profit taking, analysts said. In morning trading, a barrel of light sweet crude for July delivery yielded 57 cents to 99.02 dollars. That of Brent North Sea crude for delivery the same abandoned 82 cents to 111.71 dollars."Investors seem to take their profits at the approach of a long weekend in the U.S. market," said Ker Chung Yang, an analyst at Phillip Futures in Singapore, referring to the Memorial Day holiday on Monday the United States.

China's competitiveness is being eroded in favor of the United States. Producing in China soon will cost more than 10-15% cheaper than in the U.S. by 2015, reports a study in the Boston Consulting Group (BCG). Taking into account all costs associated with transport and storage, the Chinese advantage will be reduced to less than 10% or even completely canceled, said the U.S. consulting firm. This is mainly because of the progressive narrowing of the gap between industrial wages in both countries.

BCG how he arrives at this conclusion at odds with the traditional discourse of economists? BCG has adjusted the salary cost of the two countries based on the productivity of workers, Americans are more efficient – such as better trained – than the Chinese. It also took into account the fact that the Chinese currency, the yuan will continue to rise against the dollar in the coming years.BCG analysts believe, after these adjustments, the wages in industrial cities like Shanghai or very dynamic Tianjin will be lower than 30% of those in the United States.

"Because of the lack of skilled labor in China, wages increase by 15% to 20% per year," said Harold Sirkin of Boston Consulting Group in a study published late last week. "We therefore expect that the net cost of labor in industry in China and the U.S. converge around 2015." Before concluding: "We will see many more" Made in USA "in the next five years."

Americans more productive

While China sees its labor costs rise, the U.S. productivity gain in parallel.More flexible labor code, public grants and favorable agreements negotiated with unions: "Many U.S. states, like Mississippi, South Carolina or Alabama, improve their attractiveness as centers of production to lower cost," says BCG . Some big names in American industry have recently relocated their production to the United States. Caterpillar has recently announced the expansion of a factory production of hydraulic excavators in Texas. About 500 jobs will be created. Previously, NRC had repatriated in 2009 its production of ATMs in Georgia.

Large manufacturers, however, are not going to desert China so far. Goods produced in large scale and require much labor will continue to be produced in China, recognizes BCG.It must be said that the Chinese advantage in terms of cheap labor and unskilled labor remains unparalleled. A study by the U.S. Department of Labor published in April, the average hourly wage cost of a Chinese worker in 2008 represented only 4% of that of a U.S. worker. And only 3% of average wage costs practiced in the eurozone.

The sessions will follow, but does not resemble the Paris Bourse. The CAC 40 is up in the red on Monday, after climbing from 1.33% Monday, following good U.S. job figures released Friday. The index in Paris dropped by 1.25% to end 4007.26 points at closing and narrowly saves the threshold of 4000 points which had been lost during the day.

The other European financial centers retreating in unison. The Dax in Frankfurt Stock Exchange lost 1.09% to 7410.52 points and the London FTSE loose 0.57% to 5942.69 points.

S & P demoralizes markets

Poor market sentiment was caused by the decision of the rating agency Standard & Poor's on Monday lowered by two notches the rating of Greece, due to the increased likelihood of debt restructuring .It also warned it could further lower.

The rating of the country's long term debt is reduced to "B" cons "BB-", which meant that Greece became deeply into the category of unreliable borrowers. His short-term debt is rated for its part "C" cons "B" before, according to a news agency. These ratings remain on negative watch, meaning that the agency could decide quickly lower them again. S & P said its decision on the fact that governments in the euro area, which have agreed to postpone the due date for repayment of their loans to Greece, could be tempted to demand a similar effort on the part of private creditors the country.

After this announcement, the euro goes off in decline against the dollar, trading at 1.4287 dollars at the close of European markets.

Investor sentiment decline

On the macroeconomic front, Bank of France (BoF) provides a first estimate of growth of 0.5% in the second quarter of this year. BdF anticipates a 0.7% gross domestic product for the first quarter.

The business survey from the Bank of France reported a moderate increase in activity in industry in April.The business climate indicator in industry decreased by three points to 107 while in services it has dropped one point to 102.

Investor sentiment in the euro zone fell again in May, with an index standing at 10.9 after 14.2 in April and 17.1 in March, the monthly survey showed Monday from research firm Sentix .

Financial stocks unscrew

Financial stocks post steepest declines in the CAC 40, while the financial situation of Greece worried, so much so that a new EU aid is getting ready by 2012. AXA (-3.52% to 14.65 euros) is an outlier of the index. It is followed by BNP Paribas (-2.74% to 52.94 euros), Societe Generale (-2.62% to 42.18 euros), Credit Agricole (-2.58% to 10.75 euros) and Natixis (-2.30% to 3.81 euros).

Rumors of transfer and acquisition for Lafarge at GDF Suez

CNP Assurances: -3.60% to 14.73 euros

CNP Assurances reported Monday a net profit in the first quarter down 3.6% to 270 million euros, affected by a strong contraction in sales (-14.1%).

Lafarge: -1.31% to 45.07 euros

Lafarge and Anglo American want to sell 600 million pounds (680 million euros) in assets to their new joint British company, whose creation was announced last February, the Financial Times.

GDF Suez: -2.32% to 26.09 euros

GDF Suez wants to establish a renewable energy division and will consolidate its ten subsidiaries producing green energy in France, according to Les Echos.Also according to the economic daily, the group would be interested in the Italian Sorgenia, 52% owned by the holding of the CIR De Benedetti family and 45% by the Austrian Verbund.

Euler Hermes: -7.67% to 66.13 euros

The credit insurance group Euler Hermes has done in the first quarter 2011 net income rose 58.2% to 75.3 million euros thanks to the continued recovery of the global economy observed in 2010. Turnover increased 7.6% to 544.1 million euros.

Iliad (Free): -0.31% to 87.55 euros

Numericable could announce the launch of a mobile telephone within 40 euro on Wednesday as well and hunt on the land of the Free (Iliad). The mobile virtual network operator (MVNO) that rents the network Bouygues Telecom is the origin of the site larevolutiondumobile.com.The group has denied wanting to launch an unlimited mobile plan.

On the podium of the largest increases Cac 40 include Alcatel Lucent (3.80% to 4.36 euros), STMicroelectronics (1.31% to 8.12 euros) and Accor (0.90 to 29% , 12 euros).

Vilmorin: + 1.40% to 86.95 euros

Vilmorin is up over 8% of its consolidated revenues for the year which ends in late June, when he was counting on this to 7%. The group also announced an operating margin target of 13% throughout the year, against 10.3% in 2009-2010.

Technip: 1.26% to 71.79 euros

Technip won a contract worth approximately EUR 55 million from Statoil for the development of the Vigdis field NE, located in the Norwegian Sea.The contract includes the supply of pipes to be installed by mid-2012 in water depths of 220 to 310 meters.

Air France-KLM: -1.91% to 12.04 euros

The passenger traffic of Air France-KLM jumped 23.1% in April, an increase that is "not significant" compared to April 2010 during which the European sky was blocked by the eruption of an Icelandic volcano, said Monday the airline group. In the past month, Air France-KLM carried 6.36 million passengers (+28%).

The CAC 40 continues on the path of this increase jeudi.Les early trade on start up from 0.68% to 4095.42 points. As in Asia, Paris markets in turn react positively to the long-awaited announcement of the Fed on U.S. rates. The latter decided to pousuivre monetary policy accommodative for a prolonged period. Following these findings, Wall Street has ended sharply higher on Wednesday and the Nasdaq hit its highest level in ten years.

On other European markets, the upward trend is also valid. The London Stock Exchange has opened up 0.32% to 6087.6 points. For its part, the DAX index of the Frankfurt Stock Exchange gained 0.62% to 7450.57 points.

But investors remain wary.Several key statistics are expected across the Atlantic on Thursday, beginning with the first estimate of first quarter GDP and weekly jobless claims (1430). The promises of sales in March are also expected (16 hours). The ball quarterly publications will also be given to: Procter & Gamble, Microsoft, Expedia and Colgate Palmolive are scheduled.

Side currency, the euro climbed sharply against the dollar since the Fed announcement. The single currency traded 1.4862 dollar. On oil markets, a barrel of light sweet crude for June delivery gained 61 cents to 113.37 dollars while that of Brent North Sea also June delivery increased 62 cents to 125.75 dollars.

Rafale PUBLICATION IN

As for French companies, investors will also have enough to do:

Saffron: 3.80% to 24.99 euros (largest increase in the SBF 120)

The group announced on Thursday a rise in its quarterly revenue exceeding its target for the year, driven by activities of aerial and optronics, and reaffirmed its forecast for 2011 and its confidence for the following years.

Eramet: 0.43% to 270.45 euros

The mining group has achieved a turnover of 973 million euros in the first quarter, up 23%, thanks to increases of 35% nickel and 30% in alloys.Its operating income should be at least semi-equal to the corresponding period of 2010 excluding special items, after a surge in sales in the first quarter.

Gemalto: -0.37% to 34.93 euros

World number one smart card noted in the first quarter up 17% of its sales to 444 million euros a year, driven by its main activities. It confirms its outlook for fiscal 2011.

Technip: -2.65% to 74.81 euros

The specialist oil and gas equipment announced better than expected margins in the first quarter and confirmed its overall outlook for 2011. He always aims for this year a turnover of approximately 6,500 to 6.7 billion euros against 6.082 billion in 2010.

Sanofi-Aventis: +0.15% to 53.34 euros

The group released on Thursday quarterly earnings affected by competition from generics, but slightly better than expected and announced that its annual results would be reviewed during the semester. In late March, the turnover came out down 1.5% to 7.78 billion euros, generics that cost him 569 million euros in turnover over the first quarter of 2010.

Suez Environnement: 3.15% to 15.39 euros (largest increase in the ACC)

The group has published performance increase in the first quarter thanks to strong growth internationally, and has confirmed all its targets for the period 2011-2013.The turnover reached 3.514 billion euros in the first quarter, registering an increase of 14.3% (+13.5% at constant exchange rates), while EBITDA was $ 592 million, an increase of 28.6% (+25.6% at constant exchange rates).

Imerys: -0.32% to 52.50 euros

The group announced on Thursday a net improvement in its quarterly results, benefiting in particular the improvement of the construction market in France, said he expected an improvement in its performance throughout the year. Imerys has improved its operating margin by 1.9 points to 13.2% and increased its turnover by 13.7% at constant exchange rates to 882.7 million euros in the first quarter.

PPR: 1.94% to 120.75 euros

The group saw sales jump 26% in luxury in the first quarter, boosted by a dynamic Asian still as powerful and a brilliant performance in the United States.

Gameloft: 4.80% to 4.80 euros

The group announced a 20% growth of its turnover in the first quarter of 2011 to 39,500,000 euros. The company anticipates a year again growing at its turnover and profitability.

NextRadioTV: 0.32% to 15.70 euros

The media group has announced a turnover up 14% to 35 million euros, 15.7 million (+15%) for its flagship radio and 10.2 million for its TV division (+25%) . He announces "positive outlook for the first half of 2011."

Technicolor: -2.10% to 5.12 euros

The group announced on Thursday a rise of 15.4% of its turnover to 812 million euros in first quarter (+16.2% at constant exchange rates) and confirmed its targets 2011.

Always on the side of publications, after market, Saint-Gobain, Sechilienne-Sidec, Crit and Vinci will unveil their turnover in the first quarter.Compagnie des Alpes will unveil its second quarter revenues. The results of the first quarter of Sequana, Saft, and Bongrain are also expected.

Eurotunnel, Danone and Plastic Omnium will hold their general meetings respectively 10:15, 14:30 and 17 hours.

Ipsos confirms its objectives

Ingenico: -0.23% to 32.72 euros

The group raised its growth target for 2011. It is now targeting sales at constant scope and exchange rates, greater than or equal to 985 million euros, while it had announced a target located between 965 and 985 million euros.

Ipsos: 0.33% to 35.48 euros

The group confirmed its targets for 2011 after recording an increase of 6.2% of its turnover in the first quarter despite the continuing fall in the market for public education in Britain.

Klépierre: -0.39% to 27.04 euros

The group announced a slight increase in rents in the first quarter, thanks to its shopping centers, despite a slowdown in consumption in Europe.

Unibail-Rodamco: 0.97% to 156.56 euros

The group has appointed Christophe Cuvillier, former CEO of FNAC and Conforama, the Executive Group property as "General Manager Operations."He replaces Michel Dessolain, board member since 2007, appointed Director General of the strategy.

New field for Total

Total: 0.85% to 42.95 euros

The oil discovered in south-eastern Bolivia a major gas field that could initially produce up to 6.5 million m3 per day.

Bioalliance Pharma: 1.49% to 6.14 euros

The group has announced an expansion in Germany and Spain for its Phase II clinical trial of clonidine Lauriad in patients with cancer of the head and neck.

Fears over demand are installed

The threshold of $ 105 a barrel was saved just in New York. Only two sessions on Monday and Tuesday, a barrel of light sweet crude for May delivery lost nearly 6% to U.S. $ 106.25 while Brent North Sea abandoned 3.06 $ 120 , $ 92.

Investors have been troubled by a note of surprise the U.S. bank Goldman Sachs sent its clients and unveiled on the markets. It announced the closure of its positions to purchase a basket of commodities, including oil, saying that rising prices would lead to lower demand. His call to take profits was reinforced by the report of the IMF and the IEA. The first has already revised down its forecast by 0.2 percentage point growth in the U.S. economy for 2011 to 2.8%.As to the second, it confirms in its monthly report the existence of a "real risk that oil is now over $ 100 a barrel is not compatible with the pace of economic recovery." "If oil prices remain at these levels sustained for 110-113 dollars and beyond, it has a good chance of derailing the economic recovery," confirmed Ilczyszyn Rich, the manager of Lind-Waldock.

However, the second part of the week was marked by an abrupt reversal of the market despite the announcement of a further rise in crude inventories in the United States. Again, the combined action of the weak dollar and renewed tension in Libya, explains the movement. Moreover, the operators had their eyes on Nigeria, where presidential elections were held Saturday.Largest producer of crude oil in Africa, eighth largest exporter, the country was the scene of violence, often directed against oil installations in the Niger Delta. "This amounts to asking who is next. As a producer, should be monitored Nigeria: the political uncertainty is not a source of stability for the prices, "stated Rich Ilczysyn, Lind-Waldock.

Friday on the New York Mercantile Exchange (Nymex), a barrel of light sweet crude ended at 109.66 dollars, while London Brent went back to 123.53 dollars. Prudence, however, remained in order. "There is a reluctance on the part of brokers to have too many positions to purchase more than 120-125 dollars a barrel because they know what the IEA says is true beyond 100 dollars it raises questions.At more than 120-125 dollars it raises serious questions about the impact of oil prices on the economy, "warns Adam Sieminski of Deutsche Bank.

Precious metals

Gold continues to race ahead

The gold and silver, however, have not declined. The yellow metal has soared for the first time in its history, the threshold of 1480 to $ 1487.65 dollars an ounce Friday. The same day, silver touched the 42.84 dollars per ounce, a level not seen since February 1980.

The reasons for this rise does not change. There is first of all the renewed concern around European debts. The markets are marked by speculation about a possible restructuring of the Greek debt, while Moody's has once again deteriorated note of Ireland. Then the inflationary world.The latest example: China, which reported a rise in consumer prices of 5.4% in March. Inflation Up 0.5% in the U.S. and 2.7% in the eurozone. Finally, the accommodative policy of the U.S. central bank, which accentuates the phenomenon of inflation, contributes most to the decline of the dollar. But the weak dollar is also a factor in higher prices because it favors purchases. At all these factors added pressure on gold demand from China and India.

On the London Bullion Market, gold finished Friday at 1476.65 dollars at auction in the afternoon, and the gray metal closed at 42 fast cash now.67 dollars per ounce. The analysts at research firm GFMS now anticipate an ounce of gold exceeding $ 1,600 by the end of the year. The ounce of silver should his side reach 50 dollars.

The platinum metals have however suffered from the note from Goldman Sachs.On the London Platinum and Palladium Market, an ounce of platinum closed lower Friday at 1,787 dollars per ounce while palladium finished at 772 dollars.

Base Metals

Base metals neglected

On the London Metal Exchange, industrial metals have also been a tough week. Copied their movements with those of the oil markets, prices fell $ 7 on the first two sessions of the week, also penalized by the note from Goldman Sachs.

The red metal finished Friday at 9419 dollars, down from 2.86%, despite a likely reinforcement tensions on supply (mining giant Rio Tinto announced a fall of 14% of its production in the first quarter and expects down 21% over the year).

In the fall, copper has resulted in the lead (-5.11% for the week) and nickel (-3.04%).The latter also suffered from the announcement of a production surplus of 600,000 tonnes on the market after a note by the International Study Group on Nickel (INSG). Going against the tide, tin exploded his previous record by climbing to 33,600 dollars per tonne on Monday. But the increase should not continue because of the resumption of exports from Indonesia, world's biggest exporter, which had been disrupted by bad weather.

Overall, traders should remain cautious on the LME. China, world's largest consumer, has sent conflicting signals Friday announcing both a rise in industrial production (+14.4%) and inflation of 5.4% leaving consider a further strengthening of monetary policy.

Agricultural materials

Côte d'Ivoire still worried

Cocoa prices have begun to put together after losing nearly 10%.However, the arrest earlier this week of outgoing President Laurent Gbagbo and the announcement of an immediate resumption of exports would have led to lower prices. Because they are nearly 10% of global demand for cocoa which will be on the market the next few weeks. But the operators are already focused on the effect of political events. They fear in particular that the president Alassane Ouattara fails to pacify his country as he promised and restart the economy, including banks, the pillars of supply chain finance bean brown.In this context, the announcement of a 3.5% increase in demand by the European Cocoa Association has added to rising cours.Sur Liffe in London, a tonne of cocoa for July delivery finished to 1972 pounds (2.65%) while on the NYBOT-ICE U.S., the contract for the same period was worth 3248 dollars (8.67%).

Their sides, coffee prices went up significantly, driven by limited supply and consumption robust. In London, a tonne of Robusta for July delivery finished at 2463 dollars while in New York, the pound of Arabica for May delivery was trading at 287.75 cents in New York.

In contrast, good production prospects in Brazil and Thailand have tripped sugar prices in London to 697.40 pounds and 24.85 cents in New York.

Side grain on the Chicago Board of Trade, a bushel of corn for May delivery rose in Monday meeting new level of 7.8375 dollars before retreating to 7.42 dollars on Friday. The threshold of 7.50 should be maintained as looming pressures on supply due to a wet spring in the United States. A bushel of soybeans and a bushel of wheat for the same maturity respectively closed the week to 13.33 dollars and 7.4450 dollars.

Faced with the explosion in property prices Paris took 17.5% in 2010 according to the Chamber of Notaries – an elected official in Paris, proposes to amend the rules of homeownership, shaking the roots to the passage of earth French traditionally very attached to the stone.

Jean-Yves Mano, deputy PS Paris Mayor Bertrand Delanoe plans to establish in the capital, a kind of property fixed term whose main effect would be virtuous to put pressure on prices overheating. His idea is to convince developers to build housing on land that would remain the property of the City of Paris and would be leased for a period of 99 years (leasehold). The buyer purchasing only the frame, the prices should, according to the chosen logically be lower.Once the loan repaid, the purchaser would carry out with the then mayor of rent from 1500 to 2000 euros per month for leasing the land. In an interview in Paris-Today in France, Jean-Yves Mano said that the new long leases could affect future new developments planned in the 13th and 17th (Batignolles) districts, or about 2,000 homes.

Specify the nature of the lease

For now, the idea seems to appeal to developers. Marc Pigeon, president of the National Federation of Builders developers estimated that the initiative is to dig "because she can walk as is the case in other European countries." "We do not yet know the precise rules of the lease that the City Council may establish, including the issue of the renewal, it is still too early to tell," he says though.He said the effect will not be immediately noticeable especially on the volumes of housing construction. "120,000 new homes are built each year, we're not going to suddenly build 20,000 with long leases. He assured however that the measure will inevitably have an impact on prices.

One consequence that Peter does not consider whether Bazaille automatic. Notary in Lyon, he began by stating that Jean-Yves Mano invented nothing since the dissociation between buying a property and the land on which it is built, is made in the capital of Gaul over a century. "Much of the buildings of the 6th and 3rd district of Lyon – including the recent district of La Part-Dieu – were built on land belonging to the Hospices," he says. Upon expiration of the leases, civil hospitals are free to renew or not.And if the lease is not renewed, the owners must leave their homes to be destroyed.

Theoretical effect on prices

In theory, this sword of Damocles may put pressure on prices when the owner wants to sell his property. "However, there are agreements in Lyon Sudreau-Pradel, said the lawyer. They predict that in case of non-renewal of the lease and enter into a new contract with another developer for reconstruction, it must compensate the owners of homes that will destroy. " Compensation is calculated on the basis of market prices, and secures a little uncomfortable payday loan. The first leases "long term" were signed in 1860, some are expired, allowing notaries to note that "the price difference with buildings built on their own land is minimal," says Peter Bazaille.As developers, they do not really propose attractive prices.

For him, if the city of Paris decides to implement such a system, it will provide rules to prevent speculative. Buying an apartment with a long lease created a real property right, that is to say that the buyer can sell quite well with the idea of ​​making a capital gain, thus challenging the opposite effect to that intended. "We could for example provide a framework for the resale prices of these buildings, or establish the principle that beyond a certain limit, the owner pays a portion of its added value to the community," offers Peter Bazaille .

Change of mentality

Finally, it remains to accept the notion of temporary ownership to the French for whom the earth and stone are sacred."Unlike the English, we made our revolution," says the lawyer who says that the London scheme based on the payment of occupancy tax, is very close to what was happening in France under the old regime. "This is not because the French are very attached to property that can not fly, tempers Marc Pigeon, the idea of ​​buying even for a limited period may attract people who prefer not to remain renters. Especially if the lease is renewable. "

The long lease at 3 points

• The long lease, to construction, real estate lease is a long term of between 18 and 99 years.

• It is granted upon payment of a fee, by a "lessor" which remains the owner, or a "taker" who will not diminish the value of the property and building on the ground.The idea is to ensure mutual economic interest: the customer built cheaply because it does not have to buy the land. The landlord gets a property with its buildings to the deadline without having to compensate the contractor who built. Exception to the rule, the leases provide for Hospices Civils de Lyon at the end of the contract, land shall be delivered bare and buyers compensated

• The long-term lease of real property gives the tenant a right in rem may be mortgaged, sold or seized.

• The leasehold can not be extended automatically at the end of the lease.Renewal requires a new agreement.

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The unions had already brandished the threat late March. They have implemented, calling all employees hypermarket distribution group to strike on Saturday to protest against including salary increases for 2011, considered insufficient. The appeal, launched by the FGTA-FP, the majority union at Carrefour (with 40% representation), is supported by the CGT, CFDT and CGC.

In total, the 65,000 employees of the French distribution group are known not to work and show around the shops this Saturday, the day the traditional busy in hypermarkets. Early estimates labor, the movement is widely followed in more than 200 superstores supermarket group. Over thirty sites are completely blocked, workers blocking access to supermarkets.Even when they are not blocked, the strike rate range from 30% to 85% as estimated by Dejan Terglav, general secretary of the FO-FGTA reported in the AFP. When contacted, the management of Carrefour has not confirmed those numbers, always carrying an inventory of mobilization, and ensuring that all supermarkets were open.

From yesterday, union officials expected a high rate of mobilization of employees in a group unaccustomed to large-scale social movements. An impression confirmed Saturday morning. "It's a movement that looks quite memorable. It is widely followed, "said Franck Gaulin, Steward central CGT. Jean-Claude Mailly, secretary general of the Workers' Force (FOR), came to support the movement this morning on the website of Le Mans, on strike for 80%. "People want a redistribution within companies.When companies are unwilling to do that, there is a strike, "said union leader, also claims that" a device to make compulsory the transport allowance in all enterprises. "

Insufficient wage increase

While management offers its employees a 1% increase in wages to March 1 and another 1% increase on 1 October, union officials estimate that these increases do not cover inflation announced by 2%. "It does in fact represents only 1% over the year," says a leaflet distributed by the FGTA-FO.Even the promise of recovery to 10% (against 7% previously) discounts on purchases of stores, and the announcement of the reopening of negotiations next Wednesday, will not suffice to bring back the union leaders on their decision.

Moreover, the malaise is becoming stronger on the side of employees on the deteriorating conditions of employment and new working methods since the arrival at the head of the group of Swedish Lars Olofsson, in January 2009.

Opposition to the plans of division

While President Nicolas Sarkozy on Thursday expressed its willingness to link salaries to dividends, the unions could ask for more support for their speeches.For beyond wage increases claimed, employees believe that the demerger proposal by listing the subsidiary Dia hard discount and the 25% of Carrefour Property land would bring six billion euros to the two main shareholders, Bernard Arnault and Colony Capital (14% stake and 20% of voting rights between them).

In the words of Dejan Terglav, secretary general of the FGTA-FO, reported in Les Echos this Friday, the organization also wants the Mutual Fund Business (CIPF) 'vote against the division (during the next meeting June 21 di ed.) CIPF owns approximately 1.33% of the shares but the double voting rights "said the union leader. Bringing to nearly 4% the number of shareholders opposed the project, with the fund Knight Vinke (more than 1% of capital).But for now insufficient to meet a third of votes needed to derail the project.

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