International & World Report

Unhappy in the Channel Tunnel, but winner between Tangier and Casablanca. Alstom, the manufacturer of high-speed trains, has won a contract worth about 400 million euros for the delivery of 14 trains at two levels (duplex), which should enter service in 2015. With this high speed line, linking Tangiers in Casablanca two ten instead of four forty-five now. Then, the train should be extended to Marrakech and Agadir.

Trains will travel at 320 km / h between Tangier and Kenitra then 160 or 220 to Casablanca. The trains will be designed and manufactured mainly in France. Then the motor and the trains will be assembled near Tangiers.

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The markets have calmed down Thursday, confident that Ireland will get fast enough funding from the International Monetary Fund (IMF) and the euro area, estimated between 45 and 90 billion euros. "We're talking about a loan is very important, certainly tens of billions of euros", said on Thursday, Patrick Honohan, Governor of the Central Bank of Ireland, Irish state radio RTE.

Talks between the Irish government, experts from the IMF and the European Central Bank began Thursday at the headquarters of the Central Bank in Dublin. They continued to the Ministry of Finance. A dozen experts from the IMF are expected to Dublin for a mission that will last "several days".

Guarantee on deposits

Meanwhile, Irish banks are still living under infusion of the European Central Bank – 130 billion injected into late October – and the Irish Central Bank, who confessed she had provided "extraordinary liquidity to the banks unable to refinance in the interbank market.

For its part, the Irish government has extended until the end of 2011 its guarantee on deposits to unlimited amounts, confirming fears of bank runs in Ireland. "Voters are calling me asking if they should not leave their money to open accounts in pounds sterling!" Said Michael Noonan, a spokesman for the opposition to the financial affairs.According to European sources, close to the negotiations, the bailout plan in the study represent "about half" of gross domestic product (GDP) in Ireland -159 000 000 000 euros. The loans will target primarily the banks. A fund would be reserved for them, with 50 billion euros at least, for the recapitalization program.

But credit lines will also benefit the Irish State, which multiplies the austerity plans, the risk of killing its growth, according to European experts. Next week, the government has yet to adopt an austerity plan providing 15 billion euros of budget savings by 2014.

Rather than cutting spending, France and Germany insist that Ireland has raised its corporate tax, one of the lowest in Europe at 12.5%. Paris and Berlin would be a prerequisite of their loan.But Dublin resists with all his forces to abandon the tax advantage which the fortune of the island. "It's not! And it is not negotiable! "Said on Thursday, Deputy Prime Minister Mary Coughlan. On this highly sensitive to the IMF will be decisive.

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France Telecom continues to make every effort to be more active on the mobile market in France. After the launch of two new offers, "one on the triple play to 34.90 euros and the launch quad play with Open," the group hopes to market the iPad for Christmas, "says general manager, Stéphane Richard In an interview with Le Parisien, Aujourd'hui en France. In fact, the leader believes that "the shelves are clearly the gift of Christmas 2010." Concerning the proposed rate, Stéphane Richard says only that France Telecom plans to "proposed iPad 3G at an affordable price with two packages."

In addition, Orange "soon will market the tablet Samsung at a price lower than the iPad with a package."But the operator does not stop there: "After Christmas we offer probably the other two blocks, less than 200 euros: a 7-inch Huawei and 10 inches of French Archos.

Transfer to Orange Sport

Moreover, following the fiasco of the chain Orange Sport, the incumbent is fixed until 2012 to sell its sports channel, but warns that without a buyer at that time, he'll be left no other option but to close cash till payday advance.

Stéphane Richard acknowledges that finding buyers is difficult, given the importance of losses incurred by Orange Sports. "When a chain loses 200 million euros each year, it's normal that they are not much to shake the door," he notes. However all is not lost, the officer noted that "the door is not closed with the League" of professional football."There are also opportunities, especially on the side of TF1 and Canal +," he said.

Appointment of mediator

Another subject, the officer said that to ease the tense social climate and to cope with the wave of suicide a national ombudsman will be established for employees "most vulnerable" by the end of the year. "Things have improved even if we have not yet reached the status of calm, serenity, to which I aspire," says the boss, when asked about the social situation in the company.

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Effective January 1, all ads of property for sale or lease must indicate the diagnosis result of energy efficiency (ECD). A measure that applies to both individuals and professionals. This ECD, which classifies dwellings into seven categories according to their energy consumption (from A to G at 50 kWh/m2/year beyond kWh/m2/year 450) is already mandatory for over three years. Simply, he intervened in general when the deal was almost finalized. "It's a revolution for the housing market," said Secretary of State for Housing, Benoist Appeared, who introduced the measure Wednesday by the Council of Ministers. According to him, this obligation will make the energy performance as a selling point, like appliances. For accommodation of 100 m2 heated gas, energy costs from 250 € to 2250 € per year between Class A and G."This will have an impact on prices and will push owners to work saving energy," Benoist Appeared. "It's a great extent, but the impact on prices will not necessarily major, grade Hiccups Guy, president of real estate network that bears his name. In the former, most homes are poorly marked. "

Higher standards in new

Benoist Appeared does not seek to enforce this DGCCRF payday loans with no fax obligation. He recalled that in the absence of such posting an aggrieved consumer may break the deal or demand a lower price or even get a criminal penalty.

Consequence of this measure: the importance of ECD has become stronger. But the diagnosticians at work since 2006 does not shine all through their professionalism.While stressing that the French ECD is generally more complete than that of our European neighbors, the Secretary of State for Housing acknowledged that there were vastly improved. In the future, the number of parameters estimated to increase from 30 to 60 and training for diagnosticians will be framed.

Evidence that energy savings in housing is a hot topic, it is also what appeared Wednesday the decree establishing the thermal regulation 2012, which aims to divide by three energy consumption in new buildings. This text will apply from 28 October 2011 public buildings and commercial and as of 1 January 2013 for new housing. At that time, these structures must meet the standard "low-energy building" (BBC), that is to say, consume more 50kWh/m2/an.According to a study by the Agency for Environment and Energy Management (ADEME), the additional construction will amount, in 2013, between 5% and 7%.

As they had hinted over the weekend, the road joined Monday mobilization against pension reform. The blocking sites are added, since Monday, strikes in many sectors of the economy.

On Tuesday morning, Laurence Parisot, president of MEDEF, said she was "concerned for businesses." For its part, the General Confederation of Small and Medium Enterprises (CGPME) reports that companies are beginning to idle as the staff struggles to get to work, especially in rural areas."If it were to continue, we may fairly quickly, by next week to have a slowdown or downtime to the right and left," warned the Secretary General, Jean-Eudes du Mesnil du Buisson.

Its president is alarmist: "I sounding the alarm because we can not afford today, after the economic crisis we have just lived for three years, can withstand strikes which last long," said Jean-Francois Roubaud on Europe 1. "We really need it stops very quickly," he added. "I'm worried because I wonder where we go."

• Refineries and depots

Eleven of the twelve metropolitan refineries are stopped due to strikes or lack of crude oil. Only one of Exxon at Fos-sur-Mer works minimum flow.At the refinery Total Grandpuits (Seine-et-Marne), a dozen employees have been requisitioned by the prefecture to provide fuel to the service of public health and safety.

By late afternoon Monday, "less than ten out of 200 deposits were blocked," according to the French Union of Petroleum Industry (Ufip). This morning, the blockades are continuing in some of them. In Caen, the militants have extended Tuesday blocking a fuel depot began early Monday morning, a fleet of thirty trucks tanks adjacent to the site. Access to the oil depot of DPA Bassens, near Bordeaux, was again blocked on Tuesday morning.The oil depot near Rouen Ruby has been released for the second time on Tuesday.

• Ports and terminals

The oil terminal at Fos-Lavera near Marseille, entered its 22nd day on strike, blocking roads in 65 vessels and five barges at sea or on the Rhone. The movement should continue: "Until the government will not budge, we will not move," said an official CGT refinery sector.

The staff of three LNG terminals for natural gas are still on strike, according to the CGT. A Montoir-de-Bretagne (Loire-Atlantique), the terminal is stopped. A Fos-Tonkin (Bouches-du-Rhone) and Fos-Cavaou (Bouches-du-Rhone) the strike is extended until Wednesday and the flow is "minimum."

• Stations

By aggregating large numbers of distribution of other distributors, we reached les2500 service stations out of stock.France has begun to tap into the industrial stocks representing 30 days of consumption. The prefect of Calvados has commandeered on Tuesday, twelve stations of his department to fuel the "priority services, relief and emergencies."

A spokesman for Esso said this morning that the situation should improve at the pump through a "comprehensive plan replenishment" in place Monday. The main points of difficulty lie in regions of Rennes, Nantes and Toulouse, "he said, adding:" Paris is not critical. "

Of nearly 250 pumps dedicated to road, about 90 were dry Monday night.Therefore, the National Federation of Road Transport (FNTR) asked the government "to release fuel depots, to set priorities in delivery of fuel for vehicles otherwise, without the truck, there is a risk of paralysis of the economy ".

• Electricity

The decline in electricity production associated with social movements representing 5200 megawatts Tuesday morning, announced the CGT, including 3000 MW nuclear.

Employees of the nuclear Flamanville (Manche) voted on Monday to stop work for 48 hours with reduced production, said the CGT.Social movements will not "impact on customers," said Monday, a spokeswoman for EDF.

• Construction and Chemistry

"Some members of the executive council (MEDEF) reported disturbances in their already sensitive industry: building, civil engineering, chemistry," Laurence Parisot said at a news conference.

• Hospitality

"There are also areas that suffer the immediate consequences when there is a slowdown, like restaurants and hotels, retail, leisure, etc.," said Jean-Eudes du Mesnil du Buisson, Secretary General of the CGPME."In this case, the revenue lost on the day of strike is not caught the next day."

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The authorization of GMOs should not take everyone for himself: a very large majority of the representatives of the 27 in Luxembourg have flunked a proposal to give Member States the green light to GMO crops on their soil.

This is a victory for France, very advanced in the challenge of the project. The Commission proposal is "irrelevant" said Secretary of State for Environment Chantal Jouanno. His German counterpart Norbert Röttgen denounced a project that "silent calls into question the internal market."

For as the other major agricultural countries, France fears creeping nationalization of the common agricultural policy business card.Concerns that echo those of environmentalists, for whom the card system would facilitate access to the EU market of GMOs.

The overwhelming rejection of the Member States is a setback for the Commission, which seeks to break the stalemate on the freezing of permissions. Two GMO seeds are grown only in the European Union (810 of Monsanto corn and potato Amflora BASF). Fifteen others are awaiting approval.

Over one million people are also to sign an appeal to the Commission to freeze the introduction of GMOs. An advisory petition, but that increases the pressure on Brussels.

The dollar plummet endlessly. And the euro to climb. On Wednesday, the euro is worth almost $ 1.40! A quasi-historical ascent: there is barely a month, the euro was worth less than $ 1.27 (5%) and early June it was trading under $ 1.19 (17%).

Not that the news is extremely good in Europe. Instead, they are rather bad, but the markets seem not to frighten them. In fact, this prompted a fever due to falling dollar.

Why the greenback is abandoned? Because the United States, good economic news is taken seriously. However, when the United States go well, the rest of the world is better for it. Which restores strength to the risk aversion of investors (they are more inclined to take risks).This is reflected particularly on the equity markets, which date, but also on the foreign exchange market: the so-called safe-haven currencies (those who bought when markets are "afraid"), like the dollar, are neglected while riskier currencies like the euro, are purchased.

But the U.S. does not go so well. If the debate on a double-dip recession – the famous "double dip" – seems to be dissipating, the recent figures on real estate and jobs overseas still show the difficulties of the first economic power in the world.

Example, on Wednesday, the monthly ADP employment in the private sector in the United States came out very well below expectations – it reported 39,000 job cuts in September as the market anticipated 24,000 creations.Bad news indeed, but has nevertheless been a factor in rising equity markets and a falling dollar.

One would think that the opposite would occur. But in reality, this only fueled surprises investors' expectations of a future monetary policy easing by the Fed (U.S. Federal Reserve). But the mere possibility that such a boost can occur, as was done on Tuesday the Bank of Japan – moves the market in its meaning.In economics, this phenomenon is called "self-fulfilling expectations.

The tendency to "rise in the euro / dollar's decline" is not about to dry up.

The yuan at the center of the "war of currencies"

Despite a plea of receiving initial Wen Jiabao, the trio head of the euro has pushed up the pressure on Beijing on the second day of the Asia-Europe Meeting, held Monday and Tuesday in Brussels.

According to countries other than China, the yuan is largely undervalued, which promotes its own export business.

In reality, the world's economies are in the field of battle on the currency front. A "war of currencies", in the words of the Minister of Finance of Brazil. A war whose purpose is to weaken its own currency.

Or in this "game", Europe loses. The yuan has only appreciated little since its "flexibility" granted by China last June.The dollar plunged against the backdrop of printing money enabled fully. The euro, he does that up.

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Inflation picked up again in August in France. The price index (CPI) rose 0.2% after falling 0.3% in July, according to Insee. In one year, the evolution remains stable, prices rising by 1.4%. Despite the slight recovery in prices, "there is no risk of inflation in France," said Alexander Law, chief economist at Xerfi.

The small labels rebound is due to a seasonal effect, according to Insee, "This increase in the CPI in August was mainly due to higher prices of manufactured goods related to the end balances summer and increase again seasonal prices of services. " With a jump of 6% labels, clothing draws upward the prices of manufactured goods. The furniture prices also increase by 2.5%, as the leather travel (+4.1%).

Gold rush on world markets requires the prices of watches, jewelry, jewelry surged by 4.1% in August. In one year, the sector is highly dependent on the yellow metal, has had to increase its rates by 11.6%.

Same trend in services, a slight increase of 0.2% in August. "With the summer season, the price increases continue to holiday accommodation (+11.5%) and package holidays (+5.5%), falls INSEE.

Domestic demand is "depressed"

These increases were offset by seasonal declines in the prices of fresh products (-7.5%) and energy prices stable. Indeed, if electricity prices rose 1.6% in August, petroleum products, with a decline of 0.7%, they have pulled the index down.

These figures confirm the month of August, according to Alexander Law, that "domestic demand is so depressed that it prevents distributors to significantly raise their prices." So they may put pressure on their suppliers and wages, warns economist. Not enough to foreshadow a return to power in this context.

The keeper of inflation in the eurozone, the European Central Bank, said that rising prices should remain moderate in 2010. It expects growth of between 1.5% and 1.7%.

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After escaping the frying promised by the Dutch after their defeat under-the-octopus against the Spaniards, Paul joined the biggest stars culminating in his chosen sport.

Like David Beckham, Michael Ballack or Cristiano Ronaldo, Paul octopus spreads its charms suckers now on the walls German. While the silhouette of the cephalopod does not yet allow him to sing the praises of underwear luxury and heady fragrances, and this is now a chain of supermarkets that has focused its advertising services. But his British agent certifies: the animal has already 160 proposals on the tentacles, it will now study.

Like any celebrity, Paul meets a certain code of conduct: his salary, consistent and confidential, will go to charity, namely the protection of turtles in Greek waters.Yet for himself as Paul octopus should be afraid on his website devoted to recipes, supermarkets Rewe praise the "delicious taste" of the squid …