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.

The fifteen-minute speech of Barack Obama addressed the U.S., not markets. The objective of the President was to convince his fellow citizens that the right of the Republican Party is responsible for the impasse. He asked the rest of his listeners to call their senator or their Republican Congress asking them to compromise.

Barack Obama said the disaster would be a failure to pay the Treasury on Tuesday, if this compromise was not reached. The economic crisis that would result, he said, entirely caused by the political dysfunction in Washington.

Obama maintains its position

For the chief executive of the United States, the problem of excessive indebtedness of the country is the result of at least ten years of lax fiscal policy. First, because of excessive spending and irresponsible tax cut decided in George W. Bush.He then explains the explosion of debt since taking office by the need to save America from a very serious recession.

Nothing he outlined in his speech Monday night was not already stated in previous days by Barack Obama. From this point of view, it may disappoint the market. The White House put on the pressure of public opinion to split the Republicans in two.

He tries to rally the Republican pragmatists to what he calls "a balanced approach" to reducing debt. That is a major plan that includes both tax increases and cuts in public spending.

However, he supported the plan proposed by the Democratic majority leader of the Senate, Harry Reid. It abandons the idea of ​​raising taxes.It offers a massive and immediate increase in the debt cap, with "savings" of the same order.

Republicans denounce economies sham

John Boehner responded Monday night's speech by Barack Obama. Photo credits: NICHOLAS KAMM / AFP

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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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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"We resist '. That is what could be read on the sign of one of the protesters took to the streets of Athens on Saturday to protest against austerity measures additional adopted by the Greek government to clean up its public accounts. Responding to the call of the country's two main unions, GSEE (private sector employees) and ADEDY (public sector), the thousands of protesters denounced the identified "social barbarism" After the enhanced supervision of international institutions in their countries . "We oppose the government and the memorandum for these barbaric actions and antisocial," said Gregoris Kalominis, an official of ADEDY.In a joint statement released on the sidelines of the event, the two unions have called for "a different economic policy, with measures of development and social measures that preserve jobs and increase our social and economic rights."

A plea against the recent economic decisions imposed on Greece. Yesterday, the country has received the "troika" (European Central Bank, European Union and International Monetary Fund) the green light for the payment of this summer's fifth installment of the loan of 110 billion euros granted in 2010. But a green light conditioning to "accelerate fiscal and structural reforms in the country", which Moody's rates still at 50% the risk of default within five years. Enough to arouse the wrath of the unions.Indeed, George Papaconstantinou, the Greek finance minister, has already announced it is less than a month an austerity plan for 2011, about 6.4 billion euros.

Hardening of social climate on another front

After nine general strikes, mobilization has been moderate on Saturday. The demonstrators were mostly employees of the public power company PPC, port employees and teachers. An event that went smoothly. Nothing to do with the excesses seen in previous demonstrations.

Mobilization and social deterioration seems rather move on another front, the less supervised by trade unions or political parties. Already experienced in Spain, a spontaneous party Internet illustrates the ras-le-bol of the Greeks, that of "outrage".Now, they do not hesitate to take sides publicly in the political class and physically, according to them responsible of the current situation. For ten days, these "outraged" gather every evening on the Constitution Square, just before the Greek Parliament.

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The Paris Bourse started the week on a small decline. Has the image of Asian stock markets this Monday morning, the CAC 40 closed at 3942.53 points (- 0.21%). Today, the London hotel market is closed while Wall Street will not open either and will celebrate Memorial Day (as every last Monday in May).

This Monday was followed in particular the impact that will follow the announcement by Germany to shut down its last reactor in 2022. The country became the first industrial power to abandon atomic energy. Already in China, the values ​​related to coal soared when he appears as the best vehicle for investment, better than solar or wind power in the future.

European side, the news is charged.The Greek Finance Minister George Papaconstantinou said was confident Sunday in the payment of the next tranche of EU-IMF loan to avoid bankruptcy for rejecting an article of the German weekly Der Spiegelmettant doubt this release. Note that the Athenians flocked in their thousands on Sunday night in the central square of the capital, before the parliament, the fifth day of a successful mobilization against austerity, modeled on the Spanish "Indignant".

Ireland, she may have to request a new loan to the European Union and the International Monetary Fund if it fails to return on the bond market to raise funds next year, said Minister of Transportation the columns of The Sunday Times.

On the foreign exchange market, the euro retreated slightly against the dollar Monday in a quiet market due to the closing of financial centers in the United States and England. Around 0900 GMT (1100 Paris), the single European currency was worth 1.4291 dollars against 1.4317 dollars on Friday night.

Values ​​on the forehead, that Monday is the day of commencement of trading of shares of Areva. The beginning of the session is particularly volatile for the action that keeps change from red to green leaves about 2% to 29.65 euros.

The group's president, Anne Lauvergeon, also believes that the nuclear reactor projects under consideration will be delayed by about 6 to 9 months because of the review of data on plant safety, said Monday its president .

Renault leaves% to 0.70% 38.79 euros while known to be the name of the successor of Patrick Pelata to senior management. Portuguese Carlos Tavares, 53, an avid sports car and head for the Americas of the Japanese Nissan, Renault's affiliate, should be named the number two automaker French.

Dexia 0.21% leaves% to 2.413 euros. The Belgian-French group will pay no dividend for 2011 due to the cost of asset sales announced Friday, said its chairman Jean-Luc Dehaene, Belgian daily L'Echo.

EADS is virtually unchanged (+0.02% to 22.42%).Its executive chairman Louis Welsh said that he supported the introduction of a veto in the defense sector to prevent hostile takeovers, in an interview with Focus magazine. "It's not about bags and luxury goods, we are in an area of ​​national interest," he said.

Technip leaves 0.43% while the group was selected by Samsung for its Floating Shell gas extraction.

Total (-0.23%) acquired 25% of an exploration license offshore Qatar for an offshore field that extends over 5,600 square kilometers.

Petroleum.The Economy Minister Christine Lagarde said Sunday that the government could impose on oil to reduce fuel prices at the pump if they do not justify the price drops enough found so far by the administration.

Hermes pressure

Hermes was down 0.17% to 179 euros while the group holds a very important meeting on Monday. Saddler said the appeal: the voice of Hermes family shareholders, Bertrand Puech denounces "attempts to destabilize" the company by LVMH. The Adam, she filed a lawsuit that the family can not merge into a holding company.

L'Oreal (-0.06%).Daughter of Liliane Bettencourt, Françoise Bettencourt Meyers, June 6 to ask the investigating chamber of the Court of Appeal of Bordeaux to cancel all records Bettencourt, citing a procedural issue attributable to the prosecution Nanterre.

Trading in Meetic is suspended while his American counterpart Match.com Announces Intention to bid for all outstanding shares of the French site. Internet dating site offers 15 euros per share in cash offer for its competitor.Its parent company said already hold 27% stake in Meetic.

Medica (0.83%) announced Monday it had signed an amendment to the credit agreement that was signed in June 2010, taking advantage of favorable conditions in the debt market to increase its financial capacity.

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Boeing monitor closely the developments in Japan. All programs include the U.S. aircraft manufacturer, in fact elements of "Made in Japan". The Japanese aerospace industry with Boeing which has forged a historic partnership in the aftermath of the Second World War, have specialized in items (Aerostructures) aircraft fuselage. Mitsubishi Heavy, Kawasaki Heavy and Fuji Heavy provide 15% of the elements of the B 767 and 20% of the B 777.

The program is the most exposed B 787 Dreamliner with which the Japanese partner of Boeing took the turn of the composites. It has 35% fuselage components produced in Japan. "We work with our partners in Japan. I think that their facilities are intact, "said Randy Tinseth, director in charge of sales for Boeing Commercial Aviation (BCA).Production sites are located in south-central and southern Japan (Nagoya, Kobe particular) to hundreds of kilometers of the northern regions hit by the earthquake and nuclear-Fukushima Daichi where there was a second explosion.

While the automotive industry is at a standstill, the Japanese aviation continues to work, according to the Staff of Boeing but remains cautious. "It's probably too early to say now. We talked to our suppliers. Their plants are in good condition, "said Jim Albaugh, president of Boeing Commercial Aviation (BCA) in an interview with CNBC low interest rate personal loans. "We have a few stocks, but not that much. I think if it lasts longer than several weeks, we will have problems, "he admitted.

For now, Boeing believes "have all the elements we need for the first delivery of the B 787," according to Randy Tinseth.The first aircraft to be delivered in Q3 2011 to … a Japanese company, All Nippon Airlines (ANA) is launching the company's new long-haul Boeing which has ordered 55 copies. For its part, Japan Airlines has ordered more than 30.

The links between the giant Chicago and Japan are not only commercial but industrial. This market is highly dominated by Boeing who owns nearly 98% of the total.

But beyond issues of industrial and commercial Boeing is very attentive to come to its 200 employees based in Japan in Tokyo, local headquarters and near the sites of production partners south of the country. The manufacturer has been in contact with each of them and their families. More broadly, Jim Mc Nerney, CEO of Boeing, has assured the Japanese people the solidarity of Boeing employees."We have longstanding relations with colleagues, customers and partners in Japan and we stand ready to assist our friends," he said in a statement released on the website of the manufacturer.

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Anxiety takes over U.S. equity markets. As in Europe, Wall Street is on Tuesday affected by fears surrounding the situation in Libya. In early trade, the Nasdaq 100 and Standard & Poor's 500 index retreating to 2.74% respectively in 2756 and 2.05% points to 1315 points. This is for the S & P 500, the largest daily drop in percentage since Aug. 11. The Dow, meanwhile, loose 1.44% at 12,213 points.

If they have, until now, very resilient to the turmoil in the Arab world, the U.S. stock markets are more worried about today. Indeed, the violence that affects Libya causes mad surge in oil prices, which can only worry about global markets. A barrel of light sweet crude for March delivery ended on a 8.5% increase in New York at 93.57 dollars despite the willingness of exporters to reassure the market.

Wall Street, driven so far by the doping effects of monetary easing "Q2" of the Federal Reserve is struggling to keep international tensions at bay.

Consumer confidence up

Side indicators, the news was mixed:

– Prices of detached houses fell in December in the U.S. for the sixth consecutive month, shows the S & P / Case-Shiller index released Tuesday. This index, which measures prices in 20 metropolitan areas, shows a decrease of 0.4% CVS a month to month in December, in line with analysts' expectations, and after a decline of 0.6% in November.

– The index of consumer confidence reached a peak in February of three years, the latter being more optimistic about the economy in general and its revenues in particular.The Conference Board index measuring the spring and released Tuesday at 70.4 in February against 64.8 in January, the highest since February 2008 business cards.

The airline industry attacked

Soaring oil prices weighs on European values of the air. On Wall Street, sector values are also suffering just like Delta Airlines (-6.61% to 10.74 dollars), United Continental Airlines (-9.18% to 24.45 dollars), U.S. Airways (- 5.76% to 9.16 dollars and Jet Blue (-5.17% to 5.78 dollars).

Wal-Mart (-3.09% to 53.67 dollars) reported Tuesday in a seventh quarterly drop in sales on a comparable basis in the United States.The number one global retailer posted a profit of 5.02 billion, $ 1.41 per share in the fourth quarter, against 4.82 billion, $ 1.26 per share, a year earlier.

Home Depot (-1.04% to 38.08 dollars) exceeded market expectations during its year ended in late January, with net income of $ 3.3 billion, up 25.4% on a year. Based on the number of shares, earnings were $ 2.01 million, which exceeds the amount of $ 1.98 expected by analysts and the company's own forecasts, which occurred in December (1.97 dollar ).

Chesapeake (5.13% to 31.99 dollars) was doubly guarded, BHP Billiton (-0.32% to 92.09 dollars) have announced yesterday the acquisition of a unit owned by Chesapeake and pipelines for a total total of $ 4.75 billion in cash."The transaction increases the reserves of natural gas from Australian band of 45% amplify analysts Aurel BGC. The announcement comes just three months after BHP had given up to get their hands on the Canadian Potash Corp.. "

Moreover, the U.S. electronic stock market Nasdaq (-3.75% to $ 28) and the Singapore Exchange (SGX) announced Tuesday a partnership whereby the companies listed in southeast Asia and India have new communication tools and information.

The tense situation in Egypt did not create panic among French tourists. The Association of Tour Operators (Ceto), tourists visiting Cairo aside, "there are no returns anticipated at this stage but returns natural." Even if all members of the association four to twenty companies have proposed to organize the repatriation. "I got the phone number of tour operators who are willing to make decisions quickly to ensure return," said President of the Union of Travel Agents (SNAV), George Colson. Club Mediterranee announced in particular have chartered a special flight Monday from Taba and took seats on scheduled flights from Luxor to Hurghada and enable its customers to anticipate their return. Thomas Cook meanwhile, decided to keep two aircraft on hand to deal with any possible emergency repatriation.According to figures from Ceto, 6500 French tourists were on Saturday on Egyptian soil. On Monday, they were more than 2000, mostly concentrated in cities along the Red Sea, where the situation is calm, according to tour operators.

Reports or trade

Also apply all of the precautions and have suspended all new departures until Wednesday, February 3 inclusive. Until Friday, February 5 for Fram. "Customers concerned may defer travel free at a later date on Egypt or any other programmed destination and current conditions of the tour operator," Ceto said. "We apply the same measures of compensation for customers unable to go to Egypt for those who could not travel to Tunisia make quick cash.They can choose to delay their departure until October 31, 2011, or opt for another of our destinations knowing that we will refund the price difference if any, "says one in Marama. To date from 2000 to 3000 the tour operator customers have decided to change their travel, particularly those with holiday dates are not flexible.

New destinations for next summer

Planners, the French also anticipate their summer holidays. Tunisia and Egypt every year, attracting over one million visitors hex. A tourist trade which are beginning to benefit from other countries, too sunny, and offering similar prices. France and the Riviera residing too dear, three destinations have won a great success. "We have seen bookings for Spain increased by 50% and those for Greece and Turkey to grow by 30%," enthuses Marmara.The tour operator said that "the French take it very early this year to book because they fear a run on these destinations and consequently higher prices." He said the desertion of Egypt and Tunisia should nevertheless be short-lived: "When will reopen these destinations, tourists depart. You do not forget the pyramids for any other destination. "

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