In Japan, investors have the prudence of their American counterparts. After opening down 0.10%, the Nikkei has widened its losses during the session (-0.58%) to finish on a decline of 0.68% to 9116.69 points. It is the lowest level of the year. The broader TOPIX, yielded 0.58% to 824.79 points. The vigor of the yen against the dollar is once again pointing the finger. Unsettled, exporters have sealed document.The semiconductor equipment supplier Tokyo Electron, the specialist digital cameras Canon and carmaker Honda Motor lost between 0.53% and 2.52%.

In China, stock markets are even more hesitant. In Hong Kong, the Hang Seng was down 0.36% to 20,905 points while the Shanghai Composite gained 0.13% to 2645 points.

The Korean Kosdaq is at equilibrium (-0.02%), like the Indian Sensex (+0.06%) and the S & P Australia (-0.09%). In Australia, markets are disturbed by the results of parliamentary elections that failed to designate a clear winner.

Absence of major news, the market activity remains very calm. New major macroeconomic indicators are expected in mid-week in the U.S., particularly in the property sector and employment.

Oil climbs

Crude prices were up Monday in Asia on a flat market. In morning trading, a barrel of light sweet crude for October delivery gained 29 cents to 74.11 dollars, while that of Brent North Sea crude for October delivery increased by 21 cents to 74.47 dollars.

This increase ends three consecutive sessions of falling prices. But it remains fragile due to a strengthening dollar.

For the moment, there are four candidates. According to our information, this investment fund Carlyle, Bridgepoint, LBO France and PAI Partners. Starwood Capital could be added to this list at the last minute. Eurazeo, which had taken control of B & B in 2005 to approximately 380 million euros, expects the deals financed at the top of the range between 450 and 500 million euros.

With 227 hotels (187 in France, 35 Germany, 4 in Italy and one in Poland), B & B is a turnover of 200 million euros this year.

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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Tuesday, the group headed by Gerard Mestrallet did not hide his satisfaction at the announcement of the signing of a contract to build a gas power plant with a capacity of 1730 megawatts (MW) in Saudi Arabia. The operation is substantial. The future plant, which will be commissioned in late 2012, an output slightly above the EPR (1600 MW), for a price much lower: 2.1 billion dollars.

In reality, the bill for GDF Suez is approximately 400 million dollars. The group owns only 20% of the consortium.The balance is in the hands of Saudi Crown Corporation (SEC), at 50%, and two partners, the Saudi Aljomaih Holding Co and Japan's Sojitz Corporation, which share the remaining 30%. The operation for twenty years, however, is entrusted to the French energy company.

Competition relatively limited

With this operation draws a little more face GDF Suez on the world supply. Unlike EDF, which concentrates its production in Europe and especially in France where it holds a capacity of 96,000 MW, the group is growing strongly outside Europe.

In the Middle East, it will have in 2013 a volume of 17,000 MW, equal to its combined capacity in Belgium and France. The other major area of activity is in South America, and particularly in Brazil where he is expected to produce 11,000 MW within three years.In total, GDF Suez expects a capacity of 100,000 MW by 2013 against 72,000 MW currently.

Growth in these areas is even faster than the electricity needs are growing. Demand is growing 8% per annum in Saudi Arabia. Brazil must build the equivalent of two or three EPR annually to meet the needs of the population and industry. The bulk of the investments made in hydropower, which represents three quarters of the country's capabilities.

Another advantage, competition is relatively limited. None of the major European energy companies not participating in tenders in the Middle East. The real competitor is Western International Power, the English electrician that coveted GDF Suez earlier this year.It has 9000 MW of which 2,000 under construction in the Middle East.

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"The markets have been an excessive response, as sometimes yesterday (Monday, editor's note) with climbs as evidence had not seen for twenty years, and as it had never been seen in some countries," she analyzed. The CAC 40 gained more than 9% Monday and Wall Street recorded its biggest increase since the beginning of the year.

In fact, stock markets began the day falling on Tuesday. The CAC 40 index opened down 1.78% at 3655.2 points.Investors take profits after Monday's rebound.

About the decision of the European Central Bank to redeem debt securities of states, Christine Lagarde stressed the importance of the current crisis. "This is not orthodox in the functioning of the European Central Bank. But in exceptional circumstances, exceptional driving, "she said. "I'm not sure the ECB does so regularly."

Some commentators were surprised by the decision of the European Central Bank, putting into question its independence. The ECB had so far always refused to take such measures of buying assets.

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Discussions are therefore underway. But Friday morning, PSA declined to comment and said "do not confirm that information," the French group was described as "rumor" he yaa ten days, while the Chinese press spoke of the reconciliation, confirmed by sources close to the matter.

Geographical complementarity with Dongfeng

Peugeot performs this morning that his priority is "the development of (its) existing partnership with Dongfeng.This joint venture is that we must advance and on which we focus our attention, "said an official communication of PSA.

But, Dongfeng does not cover all of China. This company is based in Beijing and in the center, but not on the east coast, including Shanghai, a rapidly growing region, where Changan is found. A geographical compl?menrit? was highlighted by an internal source at PSA few days ago.

The French manufacturer had initiated discussions in 2007 with China's Hafei, but they had failed.Since then, Hafei has been swallowed by Changan.

Changan, the third Chinese automaker

In 2009, sales of PSA's biggest car market on the planet since January – with 2.6 million vehicles sold in the first quarter – rose 52% to 272,000 cars, compared to 2008, while in first quarter 2010, they jumped 70% over a year. For the full year, the manufacturer is 350,000 copies, thanks to the Citroen C5 and its new Peugeot 408, which will be launched soon.

The PSA remains a tiny player in the Chinese automotive landscape with 3.4% market share. But if the negotiations succeed, Peugeot would be associated with the third Chinese automaker. After acquiring several subsidiaries of the group Avic public in late 2009, Changan was strongly reinforced in his country.The joint venture is interested in the commercial vehicles.

Peugeot will start production in Russia

Straight to the emerging countries. Peugeot maintains its strategy to expand in the economically dynamic and promising prospects.

Russia is a perfect example. The carmaker is launching today the production plant built with Russian co-Mitsubishi.

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The site's director, Olivier Dalicieux, and human resources director, Alain Thomas, came out in silence around 4:30 am, in the presence of forty persons, after more than sixty hours selected in this stage factory son of copper.

Under this agreement, management committed to "embark on the plan to safeguard employment starting April 19 from the bases of negotiation developed by CGT elected.The CGT calls in particular extra-legal compensation of 30,000 euros net for all employees, plus 2,000 euros net per year of service for employees with more than four years of service, capped at 100,000 euros net. In a previous statement, the proposed management bonuses of up to 32,000 euros gross.

"We'll have to break the deadlock"

On Friday, the direction of Essex, owned by South Korean LS Cable, had nine delegates assigned interim staff for evacuation of the site, indicating a hardening of the conflict after a failed mediation attempt in the departmental Labour payday loan no faxing.In the evening, the High Court of Macon had refused assistance from police, believing that management did not provide Essex proof of occupancy or sequestration of its leaders.

"The evidence of obvious disturbance to public order is not established," said the court, ordering the company to also pay the sum of 500 euros in court costs. The decision was greeted with shouts of joy from the employees on the plant site, while management expected a third night of sequestration."We should get out of this impasse," said the lawyer employees, Ms. Beatrice Saggio, calling on leaders to "show more flexibility".

The CGT elected Essex have criticized the Minister of Industry, Christian Estrosi, who said he was "deeply shocked by the behavior of a small minority of employees that holds hostage," the two frameworks: they found "quicker to condemn employees and their representatives to deal with this issue of concern which he has received since November 2009." Since the announcement in late March the closure of the plant which employs 86 people, employees feel that the conservation plan for employment (PSE) has proposed "unsatisfactory".

On Monday, the Dow Jones gleaned 0.08% to increase the threshold highly symbolic 11 000 points for the first time since September 2008.

On the foreign exchange market, the euro continues to strengthen against the dollar, after surging the day before with the announcement of details of the rescue plan for Greece. In early afternoon, the European currency was worth 1.3614 dollars against 1.3585 dollars in morning.

Wave of publications this week

On the macroeconomic front, the U.S. trade deficit widened in February to 39.70 billion dollars.The next week will be marked by several important indicators such as the index of consumer prices, retail sales for the month of March, industrial production, housing starts and the first estimate of the confidence index, Reuters Michigan. The markets will also follow the hearing of Ben Bernanke, chairman of the Federal Reserve, the Congressional Joint Economic Committee on Wednesday and will monitor closely developments in the case of the Greek debt.

The week will also be crucial for the U.S. markets with the opening ball of the quarterly results. As usual, the aluminum giant Alcoa, which gave the start of the season publications, Monday after the market closes. The U.S. producer of aluminum remained in the red in the first quarter, however, divided more than double its loss a year.Alcoa recorded a net loss after minority interests of 201 million over the first three months of the year, against a deficit of $ 497 million a year earlier.

Today, the computer chip manufacturer Intel to follow. The next week will be hosted by quarterly results from Google, General Electric still banks JPMorgan Chase & Co.

Always on the side of values, yesterday, the U.S. oil group ConocoPhillips has announced the sale of its Chinese Sinopec stake in Canadian oil sands project Syncrude for $ 4.65 billion (3.42 billion euros) . This is one of the largest investments ever made by China in North America.

The manufacturer of PDAs and mobile phones Palm, would seek a buyer.Bloomberg said the investment bank Goldman Sachs and Qatalyst Partners were commissioned to find a buyer to the manufacturer of smartphones in serious financial trouble. Action Palm and jumped over 17% Monday to the New York Stock Exchange.

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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"To say that cheaper products are necessarily of lower quality nutrition is unfounded," acknowledged for the first time, food manufacturers and retailers together in this independent advisory body.

Except

In an opinion adopted on Tuesday, the NAC is committed to inform consumers that "exceptions" and contrary to popular belief, food cheapest are not fatter or sweeter than the others.

The mission of the Working Group of the NAC, which was compiled and included eight studies conducted by consumer associations or research organizations, related only to the protein, carbohydrates and lipids but not on the quality of nutrients or substances first used online cash advance. For example, the NAC does not distinguish between fat from palm oil or rapeseed oil. But it recommends that such studies be conducted.The Board regrets that the media "explain obesity more common in disadvantaged by too high energy density foods first price compared to those of branded foods.

If poor children are more prone to obesity, not because they eat chips first prize instead of crisps brand but because they use chips to snack rather than a plain yogurt, writing including the NAC. The Board also considers possible to comply with dietary recommendations from 3.50 euros per day per person "in selecting foods (fresh or industrial Ed) in the lower part of the price range.