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Standard & Poor's finally penalized AREVA, judging the profitability of the group "depressed" for two years. The notes of French nuclear group, which was under surveillance by the rating agency since April 14 last, was finally degraded Monday by two notches to 'BBB +, cons A.

The first reason advanced by the agency for "the provision of 400 million euros related to the recently announced construction of the Olkiluoto 3 reactor in Finland. The further delay of the Finnish EPR, one of four currently under construction by Areva (Flamanville with the Channel and two in China), forcing the group to a new provision that would cause a negative operating result for the first semester 2010. In total, the group has been provisioned 2.7 billion euros for this site should be completed in late 2012 with four years late.

S & P added that the profitability of Areva would also be affected by a "conflict" is contrasted with EDF about the Georges Besse enrichment plant, in the Drome. Both groups fail to reach an agreement to renew the contract which ensures the Areva uranium enrichment EDF.

The rating agency does have a stable outlook on the debt rating of Areva, the group believes that "should be able to implement successfully the remainder of the plan sales and its plan to increase capital , strengthening its balance sheet.

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The operation of rating agencies

European markets should pause on Thursday after two sessions of sharp decline, which followed nine sessions of consecutive increase.

The CAC 40, which closed Wednesday were down 1.71% at 3641 points, due to start sitting up on Thursday, the CAC 40 index futures predicting a rise of 0.74%.

On Thursday morning, the euro is up 0.17% to 1.2333 dollars around 7:30 rating. The European currency resist despite lingering fears about the state of the economy of the Old Continent.

In an interview with Italian newspaper La Repubblica, Jean-Claude Trichet, ECB president, said it was unlikely that the risks of deflation to materialize in the euro area.

Employment on the radar screen

In France, INSEE unveil at 8:45 expenditure Household consumption of manufactured goods in MayAnd job center will provide 18 hours tonight the numbers of jobseekers registered.

In the euro area, new industrial orders in April will be known 11 hours.

In the U.S., at 14.30, the figures on durable goods orders in May are highly regarded, as usual. As the traditional weekly claims for unemployment benefits (same time).

Areva accrues $ 400 million more

The Group accrues 400 million euros more because of the further delay of the EPR. These delays have already cost the group 2.3 billion euros nuclear. And this new supply will cause the accounts into the red in the first half.

The Da Vinci company has signed an agreement for a proposed road tunnel in Vietnam, worth an estimated 600 million dollars.

Publicis Interpublic does not need to merge with Publicis, according to its CEO, Michael Roth.The fourth group in terms of global advertising revenues has been speculation about a possible merger with French group.

L'Oreal L'Oreal held yesterday, a presentation on New Markets, about their potential for growth, based on affordable innovations, development of new product categories and the acceleration of globalization. Natixis Securities appreciated and raised price target on the value of 92-97 euros.

The bank Societe Generale 4.9 billion calls to Jerome Kerviel. This sum is claimed as damages, the commitments of the former alleged fraudulent trader.

Vivendi, however, that without the word "relax" is heard, the prosecution did not request any penalty against former executives of Vivendi Universal.From the first day of the hearing, Jean-Marie Messier, former CEO, has expressed a mea culpa about its "excessive contact".

Casino New episode in the war of Nespresso. Nestle has obtained the high court in Paris to send bailiffs in Folliet and Vegeplast, the two suppliers to the manufacturer Casino pods compatible with Nespresso machines.

Air France-KLM 4,390 people have left the company without having been dismissed, by March 2013, according to an internal document quoted by La Tribune, on its website.

Compagnie des Alpes Compagnie des Alpes announced Thursday the launch of an increase in capital of approximately EUR 100 million with maintenance of preferential subscription rights.

The leisure group has also announced a refinancing of its debt in advance through long-term, secure the liquidity of the group for five years.He said in a position to make acquisitions.

Banks The president of the European Central Bank, Jean-Claude Trichet said in an interview published Thursday that the financial regulatory reforms are on track and that a number of important decisions are taken in November at the G20 summit.

TF1 elimination from the first round of the France squad will deprive TF1 more than ten million euros in revenue.

Oil drop

Crude prices have continued to drop Thursday (76.2 dollars) in electronic trading in Asia, driven by anxiety about U.S. demand, world's largest consumer.

The latest indicators of the U.S. Department of Energy showing an increase of two million barrels in crude stocks in the week concluded on June 18 have caused concern to investors, which projected a decline of one million barrels.The increase in crude inventories reported in effect a weakening demand.

After the European Council, the International Monetary Fund (IMF). On Friday, it was the turn of Dominique Strauss-Kahn, IMF managing director, said to be "very confident in the prospects for the Spanish economy in the medium and long term." The latter was speaking after a meeting in Madrid with Spanish Prime Minister Jose Louis Zapatero Rodrgiuez. The day before, Thursday, Nicolas Sarkozy, speaking on behalf of the European heads of state, also explained that there was no need to worry about the financial health of Spain.

That trust, however, is conditioned "to efforts must be made" by Spain, according to the IMF."What I see today is that these efforts are underway, however, found the director of the institution, referring to measures to reduce public deficits and structural reforms announced by the Spanish government.

Focus on employment

Dominique Strauss-Kahn in particular called "crucial" reform of the labor market. According to him, it is "incredible" that the unemployment rate is rising so fast in Spain each economic crisis compared to other European countries. Today, the Spanish unemployment rate reached 20% of the labor force, double the average for the euro area.

The parton IMF was satisfied that the reform of the Spanish government will lay "the foundations of the Spanish growth for the next two decades.""If done correctly, I am very confident," he repeated, adding that "the steps taken by Spain in recent days were crucial.

Maintaining growth

For its part, the Spanish Prime Minister has reaffirmed, after his meeting with the Director of the IMF austerity measures that his government had put in place should not affect the growth of his country."Fiscal consolidation, reduced public spending, if we conclude the reforms, if reforms are strong as we think and produce enough confidence, should not affect the economic recovery and maintain growth in prices since the first quarter "said Jose Luis Rodriguez Zapatero.

Always with a view to reassure the markets, the Spanish Prime Minister reiterated the importance of resistance testing (stress test) should be conducted on European banks. These must be published before the end of July, after Nicolas Sarkozy. "The sooner the better," said Jose Luis Rodriguez Zapatero, who considers the initiative "absolutely critical" to "recover market confidence.He said the results will be noted that "most banks are in a good situation."

Spain, described by speculation, is now back to the wall. The country has a deficit that exceeds 11% of GDP in 2009. But Jose Luis Rodriguez Zapatero is confident: "I would not be surprised if market sentiment changes towards Spain in the weeks or months to come," he warned.

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The oil found 70 dollars

Optimism returns on oil markets. On Thursday, oil prices have ended on a 4% rise to 74.55 dollars in New York, gaining 8% in two sessions. The $ 70 threshold was crossed on the rise Monday and picked up the rebound Wednesday. That day, Brent took $ 2.15 (3.09%) to 71.70 dollars, ending a run of nine consecutive sessions of declines.

"The market has received a good dose of optimism," said Phil Flynn of PFG Best Research. "It was time, prices had fallen by 87-65 dollars." For Ellis Eckland, an independent analyst, "it is a rebound in the wake of the stock markets. People are more optimistic about the fact that the euro will not collapse and less frightened about the economy. " Another factor supporting prices: the six-month extension of the moratorium on offshore oil drilling decided by Barack Obama."The United States derive a third of their crude production offshore drilling if we do drill more, this production may simply disappear", said Ellis Eckland.

But the week was also marked by a one-time relapse occurred below 70 dollars Tuesday. Investors, troubled by geopolitical tensions between the two Koreas, suffered a renewed concerns about the pace of global recovery.

If the courts now seem to settle in the range of 70-75 dollars, the volatility is always present. Especially as the U.S. Agency for Energy Information (EIA) announced that crude oil reserves rose 2.4 million barrels to 365.1 million, exceeding their year's level last at the same time.Economists on average had expected an increase of 200,000 barrels only.

Tuesday, Kuwaiti Oil Minister Sheikh Ahmad Abdullah al-Sabah, said he was "not yet" worried by the decline in crude prices. If no emergency meeting of OPEC is scheduled, the oraganisation plans to "call for more respect of production quotas.

Note that oil prices have tumbled more than 20% since the beginning of the month.

Base metals: purchases restart

Prices on the London Metal Exchange (LME) have started to increase last week on the basis of a wave of buying on the cheap. The increase was frankly started Thursday, following the easing of world stock markets after China denied its intention to reduce the share of its assets in euros.The euro strengthened against the dollar, making them more attractive purchases of raw materials with the U.S. currency.

Copper prices have soared to 7,043 dollars per tonne on Friday, a level last seen two weeks. The aluminum prices reached 2,086 dollars per tonne on Friday, their highest in two weeks. Lead, nickel and zinc gained respectively 0.6%, 1.8% and 3.4% payday loans.

However, caution remains the watchword. The price volatility is high as evidenced by the slowing of the rebound Friday after the publication of consumer spending by American households down in April after six consecutive months of increases. Overproduction of copper in Chile and increased reserves of aluminum could also disrupt markets.

Precious metals: the gold recovery

Fell from its pedestal last week, gold has recovered to historical levels last week in favor of a new wave of market stress in midweek. Alarmed by the risks in the euro area, investors have once again flocked to the safe haven, pushing prices up to U.S. $ 1218.47 on Thursday, not far from the record of U.S. $ 1249.40 May 14 On the London Bullion Market, an ounce of gold finished at 1207.50 dollars at auction Friday night, cons 1179.75 dollars the previous Friday.

And the prospects of rising oil prices are good for the yellow metal. According to the World Gold Council (BMC), consumption should be taken this year by the expansion of the jewelry in China and India.

The ounce of silver has followed the movement of gold, finishing at 18.53 dollars Friday, against 17.72 dollars last Friday.The platinum group metals have also returned to form more than the football World Cup in South Africa could lead to tensions on the country's electricity supply. A situation that could force the mining groups to reduce their production. The ounce of platinum finished at 1555 dollars per ounce of palladium finished at 471 dollars against 419 dollars a week earlier.

Corn and soybeans climbed in Chicago

The corn and soybean prices rose Thursday on the Chicago futures market, driven by the exchanges and oil. More broadly, the decline of the dollar against the euro makes U.S. production more attractive for export.A bushel of corn ends at $ 3.60 (1.12%) and soybeans to close an $ 9.38 per bushel (0.48%).

Cocoa prices have in turn touched a new high in London this week, boosted by the prospect of tight supplies and growing global demand. Thursday, cocoa for July delivery climbed to 2,451 pounds in London, prices not seen for 32 years, while the same term contract in New York reached 3018 dollars.

Sugar, for its part failed to continue its rebound from the previous week. On Liffe in London, a tonne of white sugar for August delivery was worth 475.80 pounds on Friday. On the NYBOT U.S. a pound of raw sugar for July delivery was worth 14.83 cents.

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At the opening, the Dow Jones was down 0.25% at 10,845 points, the S & P 500 fold from 0.03% to 1166 points and the Nasdaq 0.34% loose, to 1966 points.

On Wednesday, the three major indexes in New York posted strong gains Wednesday.

Eight banks covered by a survey

The Attorney General of New York has opened an investigation into eight banks, including Credit Agricole, to determine if they had provided misleading information about their mortgages before the subprime crisis, "according to The New York Times.Goldman Sachs (-0.57% to 146.36 dollars), Morgan Stanley (1.29% to 28.16 dollars), UBS, Citigroup (-1.68% to 4.11 dollars), JP Morgan & Chase (-0.62% to 41.43 dollars), Credit Suisse, Deutsche Bank, Bank of America-Merrill Lynch (+0.24% to 17.11 dollars) and Credit Agricole in the crosshairs.

The dollar continued its rise against the euro

The euro fell Thursday to a level that was hers before the announcement of the stabilization plan of the European Union and the International Monetary Fund (IMF).The single currency traded at 1.2586 dollars, down 0.3% on the day, approaching its lowest level in 14 months.

Decline in number of unemployed weaker than expected

The resurgence of the greenback is supported by the fourth consecutive decrease the number of newly unemployed in the United States, according to figures released Thursday by the Labor Department in Washington cash advance america. The ministry said 444,000 new jobless claims were submitted from May 2 to 8, or 0.9% less than the previous week (in seasonally adjusted data).

Oil prices opened sharply lower Thursday in New York, a barrel of benchmark lost 1.47 dollars to 74.18 dollars. Wednesday crude inventories rose 1.9 million barrels to 362.5 million.Economists on average had expected a rise of 1.3 million barrels.

Contracts awarded on the prudence of Cisco

The Japanese electronics giant Sony (-2.47% to 32.42 dollars) confirmed Thursday it had ended the fiscal year 2009-2010 on a net deficit reduced to 40.8 billion yen (312 million euros ), reflecting a return to the green on the plan of operation, through reductions in fixed costs. Sony also said Thursday that he hoped to finish the fiscal year began last April, and will be closed in March 2011, a net profit of 50 billion yen (about 400 million euros).

Cisco (-3.42% to 25.83 dollars) has announced its profit jumped 63%, but its CEO said that caution was in order.

Registrations of new cars in France have slowed significantly in April, the end result of whiplash print market since late last year by the scrappage

New registrations rose 1.9% in April on a year in France, reaching 190,986 units, said Monday the Committee of French car manufacturers (CCFA). In March, they still leapt 17.9%, still boosted by the registrations of cars ordered in late 2009 to take advantage of the premium to 1,000 euros. This was reduced to 700 euros since 1 January, and will fall to 500 euros in the second half.

"We see here the impact of gradually reducing the premium breaks, there is some decline in the small car category, those who have benefited most from the device, and you know you will go into negative at the end of the year, "said a spokesman for the CCFA.

"Despite this, the ski manufacturers we also show that the level of orders for new models and for mid-size cars are holding up well, meaning that the market continues to resist despite the decline in aid."

Citroen sales down 8.3%

The major manufacturers all expect a decline in European car market this year, the second half of 2010 announcing the end more difficult with a comparison of premiums and increasingly unfavorable relative to the boom in late 2009. Renault has amounted to 10% expected decline while its major competitor PSA Peugeot Citro?n expects down 9% quick payday loan.

Last month had 21 days, provided that April 2009.Of the first four months of 2010, registrations in France reflected an increase of 12.9% to 785,706 units.

Sales of passenger cars Peugeotont group rose 7.3%, but those of the Citro?n stand down 8.6% on month, while Peugeot's registrations increased by 24.2%.

As for the Renault group, registrations were up 17.2% – an increase of 9% for the brand new diamond and jumped over 100% for Dacia (Logan, Sandero and Duster).

Improvements on commercial vehicles

French brands have still got their game well, with an increase of 8% against a decline of 4.9% for foreign brands. Among foreign automakers, Nissan (49.2%), General Motors Europe (+43.5%) and the BMW Group (+24.1%) recorded the most notable increases.The Volkswagen group (-20%), Fiat (-13.3%) and Ford (-12.8%) are in decline.

The improvement in the commercial market, particularly affected by the slowdown in economic exchanges, is also confirmed. The registrations of light commercial vehicles rose 32.2% last month, marking an acceleration from the 16.5% increase observed in March (+11.4% when adjusted for working days). In commercial vehicles over 5.1 tonnes, in turn, is down 9.4%, against 28.4% in March.

Energy: one week for the troubled oil

Gravitating around $ 85 last week, oil prices have slowed their rise this week. On the New York Mercantile Exchange, a barrel of light sweet crude for May delivery traded at 84.52 dollars on Monday against a peak of $ 87 on Tuesday of last week. "It comes back to earth, ironic one analyst.

This correction then explained by an increase in inventories of crude reserves in the United States for the tenth straight week. Oil prices continued their decline in the rest of the week despite the fact that the International Atomic Energy Agency (IEA) has again raised its forecast for global oil demand in 2010 of 2% compared to 2009.Investors have been cooled by the analysis of JP Morgan believed that the offer would remain significant because of high inventories of non-members of the Organization of Petroleum Exporting Countries (OPEC).

A wake was held following the publication of positive quarterly results from Intel. The U.S. Agency for Energy Information (EIA) had also announced a surprise drop in crude inventories at 354 million. Since Wednesday, the price has recovered the $ 85. Friday, prices have stabilized around 85.69 dollars per barrel WTI.

Metals: copper, always leading

When China talks about his growth figures, the metals markets are rubbing their hands. Latest macroeconomic figures in Chinese date, the country grew 11.9% yoy in the first quarter. A new whetting the appetite of investors.Remember that China is about 8% growth in 2010.

In markets, copper continued its path toward the summit despite a small reflux (-0.47% over the last 5 days). Friday on the London Metal Exchange (LME), the ton is trading at a consistently high level of 7874 dollars. The goal of $ 8,000 is not far.

Aluminum is also up on the LME, with a gain of 4.30% over 5 days and a high of 2,423 dollars per tonne reached Thursday. A fine performance as the industry giant, the American Alcoa announced Monday that he remained in the red in the first quarter due to special charges related to restructuring. The group was divided into two loss over one year to 201 million dollars.

Nickel is also 8.70% on the week. Ton set a record Thursday at 26,685 dollars on the LME.

Precious Metals: Greece weighs on gold

Gold has had a week sawtooth.The gold shows a decrease of 0.62% over 5 days. Friday, traded 1153.80 dollars per ounce, in a market down by 0.52%. This weakening is due to the rise of the dollar against various currencies worldwide that drives investors to take profits. This weekend, the euro lost 0.3% to an average of 1.3535 dollars amid concerns about the ability of Greece to cope with its crisis. The country has announced its intention to use EU funds to cope with its debt. Gold therefore moves away again from the "peak" predicted by the consulting firm GFMS in its annual report 2010.

The money follows the same path as gold, down from 0.49% to 18.35 dollars per ounce on Friday.The metal still remains above the 18 dollars, a level reached the first time since January last week.

Palladium was trading Friday around $ 540 an ounce on the London Bullion Market (LBM). Prices dropped slightly over the weekend but that does not make the metal more than 6% in 5 days.

Agricultural products in the green

This week has been marked by rising prices for soybeans, corn and wheat on the Chicago futures market. A bushel of wheat climbed Thursday to $ 4.80, allowing a gain of 3.78% over 5 days. Corn was trading at 3.62 dollars per bushel (44.24% in 5 days), while soybeans traded 9.78 dollars per bushel (3.19% in 5 days).

The announcement of a 11.9% growth yoy in the first quarter, China has boosted the morale of investors who expect a steady increase in demand from countries considered major consumers. The news has mostly benefited the soybean: China buys alone 60% of U.S. exports, according to the U.S. Department of Agriculture (USDA).

The files stolen by Herve Falciani the Swiss subsidiary of HSBC bank, and who found themselves in the hands of justice and the French tax authorities have been decrypted. A total of 172,000 accounts have been identified, held by 79,000 people, including 8,231 French. The prosecutor of Nice, Eric de Montgolfier, announced Tuesday night.

It is well beyond what had been said, on March 11 last, the CEO of HSBC Private Bank, Alexander Zeller. The theft "committed by an employee of the department about three years ago, could affect some 15,000 customers," he declared at a news conference.Regarding the French, it is also far escaped the 3000 tax raised by Eric Woerth, budget minister last summer.

Return a long history

The French court before January 20, 2009 at the home of French Herve Falciani encrypted computer files containing a list of accounts held by customers of HSBC. The search was conducted as part of a request by Swiss judicial authorities, suspecting the employee of misappropriation of confidential data between 2006 and 2007.

But before passing to the Swiss – after a standoff of several months – French investigators have analyzed the content of these seizures, which have proved of great interest for justice and the French tax authorities.Prosecutors in Nice opened an investigation for money laundering and tax administration has used the data to identify suspected fraudsters Fast Cash Without a hassle.

The Battle of France

Shareholders who were illegally will pay for it keeps those who do not. Of the 6 billion euros of capital identified in the accounts in Switzerland, 700 million penalty in 2010 will be released. And 700 million euros will be refunded to taxpayers whose tax exceeds 50% of revenues.

In Italy, the method was different. Silvio Berlusconi has been voted an amnesty which showed 95 billion euros of capital and reported $ 6 billion in the Italian Treasury.

But the amnesty is not on the agenda in France. "Because the amnesty called fraud until the next amnesty," said Eric Woerth.

Italy on the alert

"Prosecutors in Turin we sent a request for mutual legal enforcement. He asked to get copies of the data we have captured, "said Eric de Montgolfier. According to the prosecutor, the Italian justice has opened an investigation for tax evasion.

The decoding of stolen files has revealed the names of 7,094 Italians.

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If confirmed, this would be the heaviest fine ever imposed by the U.S. National Highway Safety Agency (NHTSA) to a manufacturer. This requires the Japanese Toyota fined 16.375 million dollars (12.191 million euros). A record amount justified, she said, by the slow reaction of the manufacturer's faults found and deliberately concealed its vehicles.

The U.S. government accuses him of hiding Toyota for "at least four months' issues of accelerators is jamming in the down position, and this" contempt of risk "led to drivers. According to the Minister of Transport Ray LaHood, the leaders of Toyota "did not take steps to protect millions of drivers and their families."

Toyota has two weeks to pay the fine or contest it.If he refuses to pay and can not agree with NHTSA, the matter will be referred to a court.

Procedural defects

The NHTSA had opened an investigation last February 16 to see if Toyota had been slow to reveal these problems, finds a first time Toyota has not notified within five days after discovery of problems, as the law The imposed.

According to the U.S. Department of Transportation (DoT), the 70,000 pages of documents presented by Toyota have revealed that the manufacturer "knew his problems pedals are jamming on their own since at least September 29.It was at that date that Toyota "has launched repair procedures with its distributors from 31 European countries and Canada to address issues accelerator stuck, sudden increase and tachometer sudden acceleration of the vehicle, "says the report.

But the documents show that "Toyota knew that consumers in the United States suffered the same problems as those in Europe and Canada.Yet, September 29, the band announced the recall of 3.8 million vehicles in the U.S. claiming only the possibility that the accelerator pedal gets stuck in the floor mat and ignoring the problems of blocking pedals 'themselves in position.

It was not until January 21 that the manufacturer recalls 2.3 million vehicles in the U.S., reported first involuntary acceleration unconnected mats but the pedals are blocking themselves . In the end, Toyota has recalled more than 6 million vehicles in the U.S. on 9 million recalled in the world.Either the largest recall ever recorded by an automaker.

Organizational Change

In a statement, Toyota has defended: "We have already taken a significant number of measures to improve our communication with regulators and clients on security issues and strengthened our commitment to quality." This includes "the appointment of a new director of quality in North America and a greater role dedicated to regional leaders in the decision making process related to quality," says the manufacturer.

But the DOT has not said its last word. He announced as still investigating to determine if the manufacturer had "committed other offenses meriting further sanctions."

Reminders continue

Meanwhile, Toyota continues its recall campaign.The Japanese announced Tuesday its intention to recall 12,984 vehicles sold in South Korea because of mats may impede the accelerator pedal.

The three models involved are the Lexus ES350, Camry and Camry Hybrid. Motorists concerned will receive free repairs from April 19.

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Workers at the plant Sodimatex Crepy-en-Valois, since Thursday threatening to blow up their factory to demand better severance pay, resumed negotiations with management on Friday, according to their lawyer."The goal is to obtain guarantees on fair negotiations and feasibility of proposals," said Ms. Caroline Substelny journalists, who advises employees.

After half a day of negotiations, the employees had left the roundtable organized at the municipality office, shortly before 20 hours before returning to the factory for a general meeting faxless pay day loans.

Both sides attempt to reach an agreement to improve the starting conditions of the 92 employees, including site closure is scheduled for a year.

The employees demanded such a premium extra-legal dismissal of 21,000 euros, similar to what had affected their colleagues from another plant Sodimatex closed in 2006.

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