International & World Report

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.

Until this afternoon, prudence and tensions were on the agenda of this meeting at the Paris Bourse. But at the opening of Wall Street, where the indices have moved into the green after six consecutive sessions of decline, the CAC 40 rebounded to finish sharply higher on Thursday from 1.06% to 3878.65 points . The figure on foreign trade in the U.S., better than expected, reassured investors cooled by a series of bad numbers in the U.S. and the Fed has not proved reassuring about the economic recovery of the first power of world.The Beige Book from the U.S. central bank (Fed), published during the session on Wall Street has reinforced the comments made by chilling the day before Ben Bernanke: "Economic activity continued to grow in general, but a small number of regions have expressed some slowing. "

Remains in the United States, the situation remains worrying in that the U.S. government can not reach agreement on a possible increase in the debt ceiling from the federal government, which must yet be approved before August 2 . After S & P and Moody's, Fitch has in turn launched an alert on U.S. debt, threatening the country's triple-A.

Elsewhere in Europe, the trend is good too.The London Stock Exchange finished up 0.82% to 5856.34 points and the DAX index of the Frankfurt Stock Exchange was up 1.41% to 7159.66 points.

Consumption expenditure of households leave

In France, payroll employment has increased its recovery in the first quarter and the balance of agency has eased, according to Insee. The sectors mainly merchants have created a total of 58,200 jobs after 48,300 over the last three months of 2010, an increase of 0.4% against 0.3% on the previous quarter.

Consumption expenditure of households is distributed last year (+1.3% in real terms after only 0.1% a year earlier in a crisis).This has contributed to two thirds of the growth of the French economy in the year of recovery after the global recession of 2009.

Inflation, measured by changes in consumer prices, rose 1.8% between late 2009 and late 2010, year on year, double the previous year.

In the U.S., new jobless claims were virtually unchanged, said Thursday the Labor Department, which identified the filing of 427,000 benefit claims in the country from 29 May to 4 June, while analysts expected 423,000 new registrations.

The euro and oil up

On the currency side, around 17:30, the single European currency fell back and was worth 1.4516 dollars against 1.4575 dollars late Wednesday.

Side oil prices are trending upward, failing agreement within OPEC to increase crude production.On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for July delivery traded at 101.61 dollars, up 87 cents from the previous day.

LVMH would prepare a "supply shock" Hermes

Hermes: 2.21% to 191.95 euros, LVMH: 0.65% to 116.90 euros

Rumors times by the British newspaper Daily Mail, LVMH would prepare an offer of 350 euros per share Hermes, which holds 20.21% stake, a premium of almost 100%.

Peugeot SA: +2.42% to 28.41 euros

The automaker PSA Peugeot Citroen plans to close its site of Aulnay-sous-Bois (Seine-Saint-Denis) "Current 2014" and that of Sevelnord (North) in 2013, threatening 6,200 jobs, according to an internal document of the group presented to the press Thursday by the CGT.

Club Med: + 5.11% to 16.13 euros

The group announced on Thursday a profit of 10 million euros in the first half, against 3 million in the first half of 2010. The indicator of profitability of the villages of the French group jumped 67% to 47 million euros.

Remy Cointreau: + 0.11% to 56.56 euros

The group reported a net profit 2011en 2010-down more than 18%, to 107.5 million euros, 109 million lower than expected by the market.

Ipsen: -3.24% to 25.83 euros

The band announced an increased specialization and investment under its new strategy.He envisions one-time charges of 80 to 100 million euros before taxes in 2011 and 2012, related to the implementation of this strategy will require the closure of Research & Development in Barcelona.

Air France-KLM: -0.79% to 10.71 euros

The airline announced Wednesday an increase in passenger traffic in May, albeit at a slower pace than in April, which had benefited from favorable comparison bases.

Aeroports de Paris: + 0.95% to 64.91 euros

ADP announced Wednesday it had entered into exclusive negotiations with the operator of airport services 3S Group to cede a majority stake in its ground handling activities.

EADS: + 1.72% to 21.57 euros

The largest private airline in India, Jet Airways, will be ordered ten Airbus A330 aircraft, said its chairman Naresh Goyal quoted Thursday in the daily The Economic Times.

Schneider Electric: + 3.07% to 114.10 euros

The French electrical equipment manufacturer announced Thursday the acquisition of the Chinese Leader & Harvest Power Technologies Holdings, which specializes in variable speed drives, based on a valuation of 450 million euros (including debt).

EDF: + 1% at 27.33 euros

EDF could be tested by the weather this summer. RTE, the French electricity network operator, today the government's scenario for the summer.Dry weather and heat wave could cause the system to its limits.

Sopra: + 1.08% to 85.51 euros

The shareholders gave the green light Wednesday to the proposed demerger and listing of Axway Software, the software division of group counseling and services.

Next recommendation, Suez Environment (2.11% to 14.28 euros, the biggest increase ACC) is supported by JPMorgan, while Havas (1.49% to 3.54 euros) is supported by an increase of Kepler's opinion to buy, cons ease.

Saint Gobain, Bolloré and Ruby hold their general meeting today.

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Bruno Mayor dismisses the idea of ​​a tax drought

Since mid-May, the United States exploded the ceiling set by Congress of American debt, around 15,000 billion dollars currently. This ceiling has been found in January. It would suffice to go back again to exit the United States from embarrassment: the country can theoretically borrow on the markets when the threshold is exceeded. Which is to say that the U.S. is in a situation of default.

But the maneuvers have pushed until August 2, the bankruptcy of the federal state. The White House and Congress have so until that date to agree. The first press the other to raise the ceiling, but he refuses to press the button until the government has not detailed a program foresaw and specific reductions in public spending. The United States shackle in effect three years of deficit exceeding 10%.It should reach around 1.6 trillion dollars this year.

If the financial world does not doubt the ability of great leaders of the first world power to agree, for the good of the global economy, the timetable is narrowing. And rating agencies do not fail to recall. Thus, after Standard & Poor's in April, Moody's puts a sudden extra pressure on Thursday by threatening to put the debt rating of long-term United States, currently at AAA, on negative watch, implying an actual deterioration in the coming months.

No to raising the ceiling

Yesterday, Wednesday, Barack Obama received dozens of Republican representatives in the White House. These, a majority in their meeting, refused to give the green light to an increase in the federal debt ceiling because of cuts in spending."We need to tackle this debt," said out of the meeting the head of the budget committee in the House, Paul Ryan, author of a draft budget with drastic cuts in funding for the welfare state and criticized by Democratic allies of Barack Obama.

Tuesday night, the House rejected by 318 votes against 97 an increase of 2,400 billion of debt ceiling, a move described as "irresponsible" Democratic side.

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Arnaud Lagardere is now the sole master on board of a subsidiary of sports rights and live shows, Lagardère Unlimited. Discreetly and after two years of wrestling with his bodyguards, the head of the Lagardère group has decided to dispose of Olivier and Stéphane Schindler Guiguet, numbers one and two sports. Two evictions, revealed by the website of the Nouvel Observateur and La Tribune, which is concomitant to that of Christophe Bouchet, the CEO of Sportfive sports rights agency and principal subsidiary of Lagardère Unlimited.

In 2006, Arnaud Lagardere has the intuition of the potential market for sports rights. He also knows that this activity requires a critical mass consistent. To quickly position, he must hit fast and hard. He does not hesitate to put on the table 865 million euros to acquire Sportfive, a leading market players.

In the process, it will expand this activity with the arrival in the lap of the group of players such as IEC in 2007 and World Sports Group in 2008, followed by the acquisition last year's Best (Blue Entertainment Sports Television) American expert in the representation of athletes and the purchase of 30% stake in the American academy of sports training Saddlebrook. Two operations to "several tens of millions of euros," he admits. Arnaud Lagardere, it is clear that the market for sport and entertainment is its future. "Sport is a market of 100 billion dollars", he still recalled when publishing the final results of the group.

Trading at European level

Aware after the time of acquisition is that of consolidation, it equips its assets in May 2010 of a new structure called the Unlimited, which succeeds Lagardère Sports.She becomes the equal of other major subsidiaries of the media and he becomes the president instead of his lieutenants.

But this tutorial is not enough to take off the activity. In 2010, its sales collapsed by 23% to 396 million and its losses amounted to 96 million euros. In defense of Arnaud Lagardere, new players with deep pockets is coming to the market beginning with the Gulf countries. In addition, the European Commission is considering changing the rules of trading rights to be bought at the European level rather than nationally. What sharpening a little more competition. For the entourage of Arnaud Lagardere, it is clear that to succeed we must therefore focus its resources on a few key disciplines such as football. The head of the Lagardère group has not given up "to be the world's number one sport in five years."

While the rating agency Fitch on Friday downgraded the rating of long-term debt of Greece, and the French minister Christine Lagarde asked Athens to take further fiscal austerity measures, the German finance minister speaks the ability to offer additional assistance to Greece.

In an interview published Sunday by the newspaper Bild am Sonntag, Wolfgang Schäuble believes that steps could be taken for the country if his efforts fail to reduce its debt. This additional support "is only conceivable if it is confirmed that the private creditors such as banks, do not opt ​​out of Greece, leaving European taxpayers to take full responsibility," said the German minister nonetheless. He believes that the creditor countries of Greece must first ensure that Athens is able to overcome its economic difficulties."Only in this case we could, if necessary, discuss an extension (the maturity) bonds that Greece should pay next year," says he.

The inspection visit, arriving in early to ensure that Athens respects the conditions attached to the bailout 110 billion made in the country, had to extend his stay. Officials hope it will make its findings next week but no date has been set. Wolfgang Schäuble also said that the decision to give an additional boost will require the approval of the International Monetary Fund (IMF) and especially that of centrel Bank (ECB).On Friday, the IMF has in effect called the euro area to urgently adopt a more comprehensive range of measures to resolve the debt crisis, but some resistance has emerged towards the ECB.

'Soft' restructuring

George Papandreou, the Greek Minister Pemi must submit on Monday a multi-year plan with new measures to strengthen the fiscal consolidation of the country online payday loan lenders. He hopes to escape the restructuring of the enormous debt that he does not want to hear aujoud'hui, but that markets demand. Unlike the ECB, they are convinced that Athens can not solve its problems by merely the emergency loan of 110 billion euros already granted by euro zone countries and the IMF. Despite a big effort to reduce the deficit last year (five points of GDP), Greece is indeed still in a critical budget situation.

The leader of the finance ministers of the eurozone, Jean-Claude Juncker, is the promoter for this week of a 'soft' restructuring through debt rescheduling. He pleaded over the weekend for the creation of an independent umbrella of the Greek government's privatization program in the country. Athens has planned about 50 billion euros from privatizations in 2015, whose income must be allocated to debt reduction. This option is opposed by the European Central Bank (ECB), fearing that the outright failure of Greek banks, and chain reactions throughout Europe.Dominique Strauss-Kahn, former head of the IMF, was also on the same line.

Determined to "save" his country that he says can work it through his own efforts, George Papandreou is due to visit Paris this week, Tuesday and meet with key political leaders of his country to reach a consensus on measures to be taken to cope with the crisis. This agreement required by the countries of the euro area, however, looks difficult to obtain, the prime minister faced with a sling, even within his own party.

(With agencies)

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The Japanese government thought about it and he did. The operator of the plant in Fukushima Tepco come under his control. The Japanese government has indeed released Friday details of a financial rescue plan to help compensate victims of the nuclear accident that hit Japan on March 11. "The purpose of this plan is not to bail Tepco, said Friday the Japanese Minister of Economy, but to ensure that victims are properly compensated." The operator will be under the supervision of an independent commission to strengthen the de facto government's influence on the conduct of its affairs.The government project, hotly debated within the team of the Prime Minister's center-left, Naoto Kan, has yet to be voted by Parliament.

Between 26 and 43 billion euros in compensation for victims

This plan includes the creation of a structure financed by both state funds and contributions from various private power companies in Japan. This entity will help Tepco through grants of bonds (5,000 billion yen by the Japanese press) convertible into cash, to compensate the estimated 85,000 victims of the nuclear disaster. Japanese media say that the operator should have to pay from 3000 to 5000 billion yen in total (26 to 43 billion euros).Tepco should also pay annually between 100 and 200 billion yen this structure (from 870 million to 1.74 billion euros), according to Japanese news agency Jiji.

The government even asked the banks that have lent 1.4 trillion yen (11.7 billion euros) to Tepco to waive a portion of their claims vis-à-vis the operator. "People do not understand that public funds are injected into Tepco if banks did not give their side a portion of their claims vis-à-vis the operator of the nuclear power plant in Fukushima," says Government spokesman Yukio Edano credit reports free.

TEPCO will have to sell financial assets and properties

Anxious not to appear to give a blank check to the company criticized for his role in the nuclear incident, the government also demanded that she undergo Tepco a number of conditions. The company will mainly sell financial assets and properties in order to concentrate its resources on the production and distribution of electricity.In addition, the eight most senior executives of the company will also waive any compensation and personnel managers to ordinary workers, will also undergo substantial pay cuts.

In addition to the huge amount of compensation, TEPCO will have to pay an extra bill to increase hydrocarbon production in thermal power stations, eleven of its nuclear reactors have been arrested since the disaster, counting those in the central hilly.Group CEO believes that these additional imports of gas, oil and coal would cost him 1,000 billion yen (8.7 billion euros) over budget during the year to April 2011 to March 2012.

Bank stocks fall at the Tokyo Stock Exchange

Result of this announcement, bank shares fell sharply on the Stock Exchange on Friday: Sumitomo Mitsui Financial Group sells at the close of the Tokyo Stock Exchange 3.80% to 2452 yen, Mizuho Financial Group, 2.98% to 130 yen and Mitsubishi UFJ Financial Group 2.79% to 383 yen.Due to the collapse of the market capitalization of Tepco stock market that has lost more than 80% between March 10 and April 7 last, Sumitomo Mitsui Financial Group (SMFG) could announce a loss of about 80 billion yen ( 696 million euros), Mizuho Financial Group, 50 billion yen (435 million), and Mitsubishi UFJ Financial Group (MUFG), 30 billion yen (261 million).

This is no time to feast on world markets and the Paris Bourse was not really moving. This Friday, the CAC 40 opens just in balance, rising a timid 0.08% at 4008.43 points, retaining the symbolic threshold of 4000 points, and was saved yesterday after a lackluster session. The signals sent from Wall Street are not encouraging, nor those sent by the Asian markets on Friday morning.

Prudence therefore prevents excessive risk taking. Especially as investors await the release earlier this afternoon by the U.S. Department of Labor's highly anticipated monthly report on employment. He should come to confirm the trend shown in recent days across the Atlantic by the wrong numbers ADP and weekly jobless claims.Still on macroeconomic, the French budget deficit stood at 33.6 billion euros at end-March against 28.9 billion a year earlier, according to data released Friday by the Budget Ministry.

German industrial production for March is also expected.

Side currency, the euro rising slightly against the dollar at 1.4566 dollar. The European currency plummeted against the greenback following the announcement by the ECB yesterday kept the interest rates at their current levels until at least July. On the commodity front, the dollar's rebound has led to a plunge the entire sector. Oil has fallen below including $ 100 in New York, while silver lost 13% and 4% gold.

Values ​​to follow

Total

The oil company should react to the sharp drop in oil prices flexcheck cash advance.

Alcatel-Lucent

The telecommunications equipment has greatly reduced its losses in the first quarter to 10 million euros, against 515 million a year ago, and has recorded an increase of 15.2% of its turnover to $ 3.7 billion euros.

Carrefour

In an interview with Les Echos, the CEO, Lars Olofsson, made the revitalization of hypermarkets in France and its priority does not like the boss for France, whose departure was announced Thursday, is replaced by a French.

Eiffage

The group announced an increase of 13.2% of its backlog as of April 1, to 11.7 billion euros and confirmed its target of sales in 2011.

Icade, Veolia Environment

The group was selected by Veolia Environnement as exclusive partner for project implementation, the order of 100.000 square meters, designed to accommodate the consolidation of about 3000 to 4000 in Aubervilliers (Seine et Marne). Exclusive negotiations which are expected to undertake to reach a decision by early 2012, said the land in a statement.

Wendel

The group has announced organic growth of 9.9% of its sales in the first quarter to 1.44 billion euros, its holdings, including construction companies, which have benefited from economic recovery.

French cement publish today its first quarter results. Euler Hermes and Gascony will lift the veil on the turnover of the first quarter.

Sanofi-Aventis and CNP Assurances hold their general meeting.

Union leaders had expected that the 1 May 2011 be a little raw, especially as "holiday character this time is less assertive, that day falls on a Sunday, is Marcel Grignard, number two of the CFDT.

"We do not have to be in the streets" to celebrate International Labour Day, said Sunday the first secretary of Lille Martine Aubry PS parades scattered about, saying that employees would demonstrate "in 2012 in vote. "Between 700 people, police said, and a thousand, according to organizers, marched on Sunday in Lille.

In Marseille, among 2000 people by 5000 according to police and organizers, marched through the rus, between 2200 and 3000 in Bordeaux between 1200 and 3000 in Strasbourg, only a few hundred at the start of the procession in Rennes.

It was also shown to Pau (800 to 1200), in Angoulême (500), Besancon (500 to 1000), Brest (250 to 300), Nancy (700 people according to the unions).

Winks comedy peppered some processions. "May 1st, we are the popes of the earth", alluding to the beatification of John Paul II.But also slogans in opposition to the FN, as in Rennes' French workers, immigrants, same bosses, same battles. "

A trade union unity crumbled

The protesters "are certainly fewer than we hoped," regretted Francois Chereque on Europe 1 (CFDT). Especially as the bargaining unit has somewhat disintegrated.

In Paris, Bernard Thibault (CGT) and Francois Chereque, in particular, will head behind the streamer head of the procession, which is just after 14:00 waver from Republic Square to join one of the nation.

The CFTC did not join the call unit but leaves the task to militants to carry out local initiatives, while the CFE-CGC stays away this May 1.

Workers Power is as usual alone.In Paris, however, that they were 300, according to AFP, to march through eastern Paris, the Bastille to the Place Gambetta, before going to bow to the wall of Federated.

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In recent weeks, rumors suggest that the industry group could carry a big external growth. Jean-Pascal Tricoire wishes to explain its strategy for acquisitions and announced sustained business earlier this year.

LE FIGARO: Schneider Electric has been rumor of a possible acquisition of Tyco U.S.. You have issued a statement that has not dispelled all doubts. What is it?

Jean-Pascal TRICOIRE: In principle we do not comment on rumors. But quite exceptional, we decided last week to respond because we were the subject of persistent rumors and speculation. I can confirm that we have no discussions with Tyco International.To be more precise, Schneider Electric does not perform in the current year, a big acquisition.

Stand back for much larger operations?

We prefer small-scale operations, a few dozen to several hundred million euros. We have already announced four since the beginning of the year. We may also be interested in the business of medium size, a billion to several billion euros, but, I repeat, we have no large acquisitions planned today.

Do you plan to evolve your strategy on acquisitions?

We must first specify the model of Schneider Electric delivers a very strong organic growth. Between 2004 and 2008 it reached 10% per year. There is also a highly focused acquisition strategy in a market of 200 billion euro still very fragmented.In this market, Schneider Electric is a leader in its sector and still does not realize that 20 billion euros of turnover. This pattern of external growth is now proven. We have demonstrated over the years that we know how to select companies, correctly assess the strategic and financial plans, and successful integration. Last year, nearly 13,000 people joined the Group. In just six years we have gone from 70,000 to 110,000 employees.

Why not apply this model to purchases of larger scale?

Collaboration with large companies do not necessarily pass through acquisitions payday loan lenders. This can be done through business partnerships, joint ventures or purchases that included only the branches. My duty is to do acquisitions that are meaningful to the strategic plan, emit very strong synergies and meet our financial criteria.They must also integrate into our business portfolio: our strategy is not that of a conglomerate! And we are much more demanding these criteria when we look for large transactions. To consider a very large acquisition, you need a good alignment of the stars individual and is extremely rare.

Why are there so many rumors about you now?

I already see that we are perceived as more buyers than as prey, which changes a few years ago.I think we have constructed a clear strategy, an economic model that works and have demonstrated an ability to make intelligent and profitable acquisitions.

Does the pursuit of critical size in order to protect yourself from a possible hostile bid in a sense for Schneider?

Increase its size in just to protect themselves from potential buyers does not seem a good idea. Our priority is performance. I believe in continuous improvement of our performance to give our group the ability to develop and provide our customers with unique skills.

How did the first quarter?

We are making a strong first quarter. We post organic growth high at 11.8%. This is our fourth successive quarter of organic growth above 10%. North America shows a nice bounce, + 15%.And Western Europe, our growth reached 6%. In these geographical areas, our strength comes not so much the growth of markets-very-low that our initiatives. Where they sold the products, we offer solutions, services, energy efficiency, an overall set of offerings to higher value added. Over the year, we maintain our outlook that are always on a rise in business organically between 6 and 9%.