International & World Report

The script, well-functioning, truly does not leave room for surprise. Around the fall, Apple should introduce a new iPhone, the fifth. As with previous releases of the iPhone and those of the iPad, the clues and revelations follow one another in recent weeks, from subcontractors in Asia, analysts and industry sources "knowledgeable," cited by major U.S. media. Little to say as usual, Apple executives have so far been content to indicate that a transition to a "future product" was to be expected.

If Apple has not experienced such a mishap with the iPhone 4, a prototype of which was intercepted by a blog two months before the release, specifications are beginning to converge guaranteed cash advance.Manufacturers of accessories, which can get the dimensions of future Apple products under the seal of secrecy, expose already covers cut for the next iPhone. They suggest that the new model, greatly thinned, will include a screen bigger (about 4 inches instead of 3.5 inches), full width of the device. The back end up rounding the old iPhone, easier to handle.

Touch an area in place of the home button

Examples of covers for the next iPhone.

"Yes, I advocate a federalist vision of Europe," enthused Nicolas Sarkozy on Thursday before his counterparts in the eurozone. The Franco-German proposals for a better European governance are not intended to create a big night in which federal public opinions are not ready. The French initiative on the fact that the Greek debt crisis has revealed the interdependence of European economies. "We have reached a degree of interpenetration as the most federalist of us did not even imagine. The Stability Pact is not enough, "says one senior European official.

The proposals will set aside any supranational option. The proposal to create the office of Union Minister of Finance put forward by Jean-Claude Trichet, the head of the European Central Bank, was clearly rejected by Paris."The idea of ​​the president is to move towards more European integration. However, he does not want a supranational economic government, "said one close adviser. "He believes in a more close monitoring by peers, by the Commission, and also the creation of a European rating agency," it adds.

Among the possible ways, that of a regular meeting of Heads of State in the euro area. Until now, German Chancellor opposed any "institutionalization" of the summit to seventeen for three reasons: not to cut Europe into two hopelessly between those who use the euro and those that have no. Do not give the new speaker a casting vote in the Mediterranean countries (Greece, Portugal, Italy, Spain …) friends of France and are far from being paragons of virtue.And, ultimately, do not support the idea of ​​a Franco-German Executive which is expected to submit the rest of Europe.

A "European Fund"

For this reason, many MEPs protest against the double standards of Paris and Berlin. "The economic governance of the Franco-German dictatorship is not a solution," says MEP (Modem) Sylvie Goulard, who defends the idea of ​​involving the European Parliament to tax policy options. Other tracks include the gradual transformation of European Stabilization Fund into a "European Fund." Finally, many "federalist" believe we should give more resources to the European Commission. "The statements of intent for a greater convergence of economic policies were made in the Lisbon strategy, and it did not help," says Sylvie Goulard yet.

At the Élysée, it places great emphasis on the need to confront the high-level fiscal policy choices, budgetary, wage. "Between 1997 and 2004, the French and the Germans had a policy against it. In France, we opted for 35 hours in Germany, Schroeder was the opposite. It was the model of what not to do when you're in the euro area, "says one close to the head of state.

The health of European banks, crucial to the future of the euro zone, is good, has hammered the EBA. This was based on the highly anticipated results of stress tests to measure the strength of credit even if prolonged recession. The supervisor had demanded a hard capital ratio of 5% the EU average was 7.7%. Of 91 institutions screened in 21 countries, eight failed the exam. The eight former "need 2.5 billion euros to build," said ABB.

Like last year, the figure is much lower in the eyes of the challenges faced by European banks, battered by the markets in recent weeks. These data, however, take into account some 60 billion euros to recapitalize by many actors involved European banks since the beginning of the year.Without this, 20 banks have also failed the tests. Above all, 16 facilities succeed narrowly, with a hard capital ratio below 6% which presents itself as the next steps to achieve.

Despite its efforts to restructure its banking sector, Spain realized, like last year, the worst performance: 5 Iberian institutions are recalibrated, including four savings banks, and seven others remain in a tie. Two Greek banks – tested on six – have also failed. Finally, an Austrian completes the list of poor performers.

France is doing well, What are the opportunity to the new Minister of Economy Baroin to praise "the strength of the universal banking model" in French. For its part, Italy, jostled for a week in the markets because of its huge debt, also managed a shot together.Italian banks had greatly strengthened their capital in recent months.

In Portugal, a weak link in the euro area with Ireland and Greece, no banking group is sticky. The Central Bank of Lisbon recalls, however, that the first two private groups in the country, Banco Commercial Português and Banco Espirito Santo proceed in three months to "increases in capital or asset sales."

European Summit on 21

It will take a few days now to say whether this exercise much more ambitious than the 2010 vintage will have served its purpose: to reassure the markets. Time for analysts to compile the exceptional amount of data disclosed by the banking community. In particular, their exposure to sovereign debt will be viewed under the microscope.Even before the publication of its results, check-up was considered inadequate in the trading rooms because it does not test the scenario of a failure of Greece, although its potential impact is partly taken into account.

A fault is the most likely outcome for investors, as European states do not find agreement. The prospect of a summit looming on Thursday for "the financial stability of the euro area and the future financing of the Greek," should restore confidence. Until then, the terms of a second rescue stumbled on participation with the private creditors, as required by Berlin.

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As announced in Le Figaro, the No. 1 reactor of the nuclear Fessenheim (Haut-Rhin) received clearance from the Nuclear Safety Authority (ASN) to continue operating. He "is able to be operated for a period of ten additional years provided you follow a number of requirements," said Monday the president of the ASN, Andre-Claude Lacoste.

The concrete slab on which was built the reactor must be such "enhanced" before June 30, 2013 "to increase its resistance to corium (molten magma resulting from insufficient cooling of the fuel, Ed) in case of serious accidents with piercing of the tank. "Second "major limitation" on the 40 made by the ASN: EDF will have to install an emergency device designed to remove the residual power "in case of loss of the cold source" before December 31, 2012.

Notice of extension published Monday is worth not discharge. Especially since it was made "subject to the findings of evaluations undertaken additional security after the accident Fukushima," said Andre-Claude Lacoste.

These stress tests requested by France and Europe aimed at assessing the behavior of plants in extreme situations. An "appointment" that could lead to the ASN "strengthen requirements," says its president. It will then EDF or the government to decide whether to continue the operation of reactor.

Monday, environmental groups and antinuclear called for "immediate closing" of Fessenheim.Nathalie Kosciusko-Morizet, Minister of Ecology responds to Le Figaro.

This year, no fewer than five new brands join forces for the first time in the Tour: Alcatel, Qatar Airways, Europcar (which also sponsors a team), and Banette Sojasun. It's better than in 2010, where three new partners (Digital, Teisseire, Cakes Saint-Michel) had entered the Tour.

It is true that the pyramidal organization sponsors tickets with different specific and visibility – enables sponsors to enjoy the varied biggest cycling race in the world. To be included in the club of four key partners alongside LCL, Vittel, Carrefour or Skoda, with arrangements for wider visibility and exclusivity of the brand associated with the Tour, it takes 3.5 to 5,000,000 of euros per year.

For their part the official partners (ten in total) as Antargaz, Orange, Festina, AG2R La Mondiale, Brandt or the PMU (the green jersey sponsor) must raise between 600,000 and one million euros. For that amount, they have a pavilion at the Village, a place in the publicity caravan and a right of communication associated with the Tour. Finally, the 17 official suppliers, engaged for three years, such as the ever-present Cochonou (14 years on the run), Nesquik, Sodexo, Etap Hotel and Haribo, capitalizing heavily on trade marketing operations, but are not associated with the sports section. Average amount of investment: between 300 and 500,000 euros.

Not to mention the octogenarian Caravan advertising that drives the pre-race with 160 vehicles and thirty brands that are paying 37,000 euros for the right to four vehicles (6300 euros per additional vehicle) and distribute the artists receive "goodies" . In anticipation of its 40 year history, has completely revamped its Cochonou device caravan and bobs will distribute 100,000 collectors, 400,000 sachets sausage, or 5000 bags. "Since our arrival in this race, we settled in aided awareness 95%.As for our market share by volume, it increases by 1.5 points during the competition each summer to 12%, "said Schneider Laétitia, Brand Manager for Cochonou.

Proof if any of the enthusiasm for marketing the event, we already know a new partner of the Tour in 2012: Le Coq Sportif, which will become the new supplier of ASO, some 60 years after a first experience!

New technologies invite themselves

Like likes to remember year after year Yvon Breton, No. 1 group collective foresight AG2R La Mondiale, signing 15-year presence in the bicycle, via a team (9 million budget) and a partnership with ASO, "what is the event that can give his name to a team that generates advertising equivalent of several million euros?" In 2010, they corresponded to 90 100% free credit score.5 million purchase of space or a new level, against 63 million euros in 2009. "We remain on the bike because it can continue to install the brand," he insists.Traveling agency that the group installed on each step also enables it to host more than 40,000 people during the three weeks of the competition and also to distribute the number of "goodies".

The media is probably the maximum calculation made by Alcatel One Touch, a newcomer to the team of partners ASO, which is the first investment in sports sponsorship. "We have a public position and the Tour is the premier event that allows us to reach out to families, much more available at this time of year, because vanaces," says Ludovic Leray, head of sponsorship. For his debut in the sport, the distributor of mobile phones and internet products will have a visibility distance through the appearance of its logo during the "course info" for the steps.It will also be the first partner to the general public to support the publicity caravan of the inside line, thanks to its smart phones and via Facebok and Twitter. Alcatel One Touch will also benefit from the device and expects to receive 550 hospitality guests during the Tour.

The passion is the same side of town who dream of one day hosting the festival of cycling. London did not hesitate to pay 10 million euros for the Tour in 2007, bringing together more than one million spectators along the Thames. The budget for a city of Grand departure starts at 2 million euros oeut effectivelment exceed the threshold of 10 million. Fortunately, the bill is more reasonable for the typical stages: 90 000 euros for a city of arrival, 60 000 euros for a departure city or 150,000 euros for the candidates to the city of rest.Result: ASO boasts more than 200 cities bidding to host the next edition of the Tour. What up years of the race tracks.

The ASO model is it infinitely expandable? "One wonders how the public finds it among the many brands partner on the Tour. Too many companies these may influence the visibility futures, "warns Marc Mazodier, research professor in marketing at the ISG business school. Specialist ambush marketing (ie ambush marketing), it stresses the need for brands to differentiate themselves from each other by a real working partnerships activation.

The indexes are volatile on Wall Street Monday. After starting at equilibrium, the Dow Jones returns to the 12,000 points mark and goes up from 0.70% to 12,020 points in the morning. S & P and Nasdaq rising 0.86% respectively in 2675 and 0.61% points to 1276 points.

This hesitation is tinged with nervousness in many markets, on both sides of the Atlantic, while determining opens one week in Greece. The vote on Wednesday and Thursday by the Greek Parliament, the new austerity plan imposed on the country already focused the attention of investors.

In this tense atmosphere, the euro regained a little against the dollar, while still fears of contagion in the eurozone. To 15 hours, the single European currency was worth 1.4199 dollars against 1.4190 dollars on Friday evening at 21 hours.For their part, oil prices fell Monday at the opening in New York, still within the scope of the decision of consuming countries to market crude oil dipped into their reserves. To 15 hours, on the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for August delivery traded at 90.51 dollars, down 65 cents from Friday.

Household spending disappointing

On the macroeconomic front, consumer spending of U.S. households were unchanged in May for the first time in nearly a year, while revenues increased 0.3%, slightly less than expected, according statistics released Monday by the Commerce Department. Adjusted for inflation, spending fell by 0.1% in May for the second consecutive month.The decline in vehicle sales after the disruption of production caused by the earthquake of March 11 in Japan may explain the decline.

The PCE price index base (core) has also increased by 0.3%, its biggest increase since October 2009, after growing 0.2% in April. On an annual basis, the index closely watched by the Federal Reserve, rose 1.2% against 1.1% the previous month.

"These are disappointing figures: the actual use sign its second decline after a strong increase in the first quarter," said Inna Mufteeva, an economist at Natixis, saying "more concerned about the risks to the short-term economic recovery. "

Other indicators U business card.S. manufacturers are also expected this week.And they may not much reassure investors already worried about the slowdown out of global growth and problems, ever more acute, the European sovereign debt.According to analysts at Aurel BGC, regional surveys of manufacturing, Dallas (Monday), of Richmond (Tuesday), then Chicago and Milwaukee (Thursday) could further deteriorate.

The ISM manufacturing index for its national will on Friday, as car sales in June and the numbers of the activity in the construction sector.

Nike and Black & Decker to a

On the corporate side, Nike (0.91% to 81.92 dollars) will publish on Monday, before the market opening results for the fourth quarter, before an information day, from Tuesday, with analysts, on these results and the long-term strategy around the CEO, Mark Parker at the headquarters of Beaverton (in Oregon).

Stanley Black & Decker (1.49% to 70.31 dollars) also adds that on Monday the offer made by the Swedish Securitas Niscayah of his compatriot, a supplier of safety equipment, with a proposal valuing the company a , 2 billion, including debt.

Treatment of diabetes developed by Bristol-Myers Squibb Lab (-0.50% to 28.79 dollars), in conjunction with AstraZeneca, was effective in a study over two years, but an increasing number of cases of bladder cancer or breast cancer was observed in patients.

Philip Morris (0.39% to 65.36 dollars) is threatening to launch legal action against the Australian government, which intends to impose on tobacco packaging generic without distinctive logo, to fight against smoking.

Facebook weigh $ 70 billion

Note that the investment fund Capital GVS took a small stake in Facebook, valuing the social network about $ 70 billion (49 billion euros). The fund said Monday it has bought 225,000 shares at an average price of 29.28 dollars each.

The number of outstanding shares of Facebook is about 2.4 billion, according to data specialist Sharepost. Facebook leaders consider an inevitable IPO but are silent on his calendar. At $ 70 billion, Facebook is valued slightly below Amazon. Com, Cisco Systems or Hewlett-Packard.

After years of uncertainty, Galileo, the European satellite navigation, has reached a milestone Wednesday with the signing at Paris Air Show, the last two industrial contracts awarded to Thales Alenia Space (281 million) and EADS-Astrium (73.5 million) for the realization of the "ground segment" of the device. Namely, a network of 21 stations to receive and rebroadcast the signal transmitted by satellites, distributed on the surface of the globe as well as two control centers based in Italy and Germany, "Now it remains to put satellites into orbit and build ground facilities.Galileo becomes a reality, "welcomed Jean-Jacques Dordain, the Director General of the European Space Agency that provides project management of this mammoth project on behalf of the European Union.

The first two satellites to be launched on October 20 at 24:00 (French time) from the Kourou space center, a Russian Soyuz rocket that will be the first launch from French Guiana. Another dual launch is scheduled for first half of 2012. Once the first four satellites positioned 20,000 km above the in-orbit validation phase (IOV), which is essential to test the operational capabilities of the system will begin.The signal they transmit back to Earth will allow users equipped with a suitable receiver to determine their position in real time, with an accuracy of one meter.

But to ensure comprehensive coverage of the territory, with this level of performance, both in cities (where buildings cause interference) in mountainous areas, Galileo must be supported, ultimately, a fleet of 30 satellites .

"At the rate of a dual launch every six months, we hope to place 24 satellites into orbit by the end of 2014," said Wednesday the European Commissioner for Industry, Antonio Tajani. A level at which Galileo will begin to be operational. The remaining six satellites will be purchased now through the "500 million euros of savings" on the project budget, said Mr. Tajani.Specifically, "the European Commission will request 1.4 billion instead of $ 1.9 billion for the next financial perspective (2014-2018)". An amount that will add 3.4 billion to the current fiscal year (2009-2013).

A market of 90 billion euros

This "good news" is undoubtedly to reassure policy makers on economic and technical and financial viability of a project that has accumulated delays since the launch of the first test satellite Giove-A in December 2005. In addition, it is clear that Galileo will be operational more quickly, more quickly in the European economy will reap the benefits.

The market for satellite navigation, today mainly occupied by the American GPS, is estimated at 90 billion euros for the period 2010-2030.

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Even stronger in Asia on Monday morning, investors reacted badly to the new rescue plan for Greece: the Paris Bourse, a technical problem prevents the scoring but when the problem is solved, the CAC is expected to fall sharply and move under the 3800 points, which had not happened since March 18. "Some technical problems occurred during the pre-opening, the markets could not open on time and are working to resolve this issue as soon as possible," said NYSE Euronext exchange group at the time of Opening assumed the Paris Bourse, at 9 am.

Despite a new rescue plan for Greece launched last night by finance ministers in Europe, markets remain worried and disappointed "investors continue to seek a quick fix that is not the working time of European political authorities.The difficulties in finding compromises will continue to maintain the highest concern, "warns one at CM-CIC.

After the reassuring words of French and German leaders who have displayed a welcome unity Friday, the firm tone adopted by the ministers said that the issue will be very long to resolve. The central bankers in the eurozone have defined the conditions of payment of a further tranche of loans in July, but the finance ministers of the euro area indicate that the release of the loan must be accompanied by the vote of a new plan of austerity and privatization by the Greek Parliament. Banks and other private creditors and participate in this new plan. However the contours of that plan remains to be defined.

In Milan, the stock market fall of over 2% after the warning from the rating agency Moody's on Friday night.The agency said Friday it planned to lower the debt rating of Italy, currently set at "Aa2." The agency said the risks to growth, financial markets and the government's ability to reduce the deficit. Featuring Dax index of the Frankfurt Stock Exchange opened sharply down Monday from 1.20% to 7078.59 points against 7164.05 at the close Friday. The London Stock Exchange it retrograde from 0.87% to 5665.24 points.

On the currency side, the euro weakened against the dollar: 7:45 to Monday morning, the euro lost 0 instant personal loans guaranteed.57% to 1.4225 points, showing that the meeting euroépenne last night did not convince the markets. In addition, oil continues to fall sharply, quoting under $ 92 in New York.

Opening of the Paris Air Show

All eyes will be mostly shot on the Paris Air Show, which opens Monday.Bad news for Airbus (parent company: EADS) last night, an incident of a private Airbus A380 giant aircraft flight, the aircraft had struck the wing of a building while being towed on taxiway of the airport. Boeing, he launches the new version of its popular 747 jetliner, highly anticipated.

In addition, the CEO of EADS, Louis Welsh, said the sale of 22.5% stake held by French and German states could be done without exposing the group to a hostile takeover, note leFinancial Times. Louis Welsh evokes an existing structure "extremely hard" for the development of the company.

Sanofi-Aventis. An investigation into a corruption case involving employees of the pharmaceutical group in Germany was opened, said Sunday a spokesman for prosecutors in Verden."Sanofi confirms that there is an ongoing investigation and that he will cooperate with the authorities related to this investigation," said his side a spokesman for the group.

PSA Peugeot Citroën. The mayor of Aulnay-sous-Bois (Seine-Saint-Denis), Gerard Segura, announced Friday it had requested an appointment at Industry Minister Eric Besson for clarification on the future site of PSA Peugeot Citroën.

Areva / EDF. According to reports in The Tribune, Nicolas Sarkozy has warned a week ago the CEO of EDF Proglio the departure of Anne Lauvergeon.He finds himself in a strong position.

The French group Publicis has bought Chinese Genedigi, specializing in public relations, events and digital marketing, with about 400 employees, for an undisclosed amount, he said Monday.

"CONTEST: Estimate the Cac 40 in late June

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Too big banks are no longer popular. International regulators working on a way to discourage institutions to reach a critical size, representing a systemic risk. The aim is to avoid repeating the situation in 2008 when, at the height of the crisis, governments were forced to come to the rescue of the banks described as "too big to fail", ie plants with failure could endanger the financial system.

The Basel Committee on banking regulation, which will meet next week and consider the implementation of specific measures to the thirty largest banks, reported Bloomberg and the Financial Times. The idea would be to impose new capital requirements higher than other institutions through the application of a new specific prudential ratio.If these measures are validated, the additional reserve capital that institutions would be selected will earn 3.5% of their risk-weighted assets according to Bloomberg, or 2.5% reported the Financial Times. Restrictions in addition to 7% imposed under the Basel III standards.

The new ratios would be imposed on institutions sliding scale depending on the size of banks and their links with their competitors. The Bloomberg stressed that the highest ratio of 3.5% is not applicable today. But it would serve to discourage institutions to grow further.

France wants to exclude Crédit Agricole and Societe Generale lists

In total, nearly 30 banks that would be an increase in their capital reserve requirements. The most severe restrictions relate eight institutions including BNP Paribas.Four other European banks (Deutsche Bank, HSBC, RBS and Barclays) and three U.S. (Citigroup, JPMorgan and Bank of America) are also involved no fax cash advance. They would be forced to comply with a Core Tier 1 ratio, an indicator that measures the equity of 9.5%, the Financial Times. A second level would include four other banks.

But the list of banks involved are not yet fixed. The French regulator to try and ensure that Crédit Agricole and Societe Generale will be free of these new rules.

In addition, regulators have not defined the means by which institutions can be put in order.The arsenal of new rules imposed specifically to institutions "too big to fail", whose size deemed critical obliges the authorities to intervene in case of bankruptcy, should be ready for the next scheduled for November G20 stated Mario Draghi, chairman of the Financial Stability Board, in April.

But these new laws should not prevent banks from merging. "Institutions should already get the green light from regulators before any merger, the new ratios will be charged an additional constraint," says a corporate lawyer at the agency Bloomberg.

Little reaction in the markets

These ads have little impact on the shares of French banks. In the morning, the folds of the securities of banking stocks are less important than their benchmark index, the CAC40.The banks operate in a pocket-handkerchiefs: Company Génarale folds 0.5% 0.4% BNP Paribas and Credit Agricole 0.3% against a fall of 1% for the CAC 40.

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After several months of development, GDF Suez has now officially launched its website for the 218,000 employees of the group, to enable them to support the development of micro-enterprises scattered around the world. While the week of microcredit is nearing completion, this unique initiative could give a fillip to microfinance solidarity.

Specifically, the site presents a selection of projects to be financed in a variety of countries (currently Peru, Lebanon, Senegal, Tajikistan, Cambodia pending, the Philippines and Madagascar). On the basis of information given to them, employees may choose to assist a particular activity: the purchase of pigs, creation of woolen hats, launching a candy … The proposed assistance takes the form of a 0% interest loan of EUR 20 minimum, payable in 6 to 18 months.The money is paid directly online (via credit card or Paypal account) and the loan is secured by local microfinance institutions. After retrieving their application, lenders are obviously free to reinvest or not the amounts paid on other projects. The site is open to employees and everyone who would be invited by employees.

The project has been fully assembled by MicroWorld, a subsidiary of PlaNet Finance, an NGO founded by Jacques Attali in 1998. Until now GDF Suez already funding specific programs through PlaNet Finance (Microfinance & Energy in Morocco and Egypt "Business in Suburbs in France). With this initiative, "Suez regains its banking business," joked Jacques Attali before noting: "Today's world is not socially sustainable.To reduce this gap, democracy is the first medium and the second is to give people the means to achieve ". Knowing that many of them will create their own jobs, he said that credit is a key lever for growth of these enrepreneurs. Even should you avoid some pitfalls: microcredit must learn to go along with ecology to be truly sustainable and must avoid certain abuses observed in India in particular or some companies claiming solidarity finance is much closer to practices of loan sharks.

GDF Suez side, if the group has funded the launch of this initiative and promises of matching shapes subsidized loans, it also recognizes the benefits expected from this operation. Firstly in terms of internal cohesion.The website encourages the creation of virtual communities and circles that can strengthen the bonds within a group and engage the best young troops. And then of course there is the group's image. CEO Gerard Mestrallet has also not stood in the preamble to introduce the launch of the new advertising group whose slogan is "Be good to men" and his view that illustrates the positioning of the company.