International & World Report

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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U.S. stock markets failed to bounce back Tuesday. The Dow Jones closed at a decline of 0.55% at 12,480 points and the S & P dropped 0.04% to 1329 points. Only the Nasdaq managed to get back into positive territory and ended up on 0.03% to 2783 points.

Greece and Portugal, a source of concern

The caution is this Wednesday before the outcome of the meeting of the Eurogroup, which must rule on the case of Greece and Portugal endorse aid. The sovereign debt crisis continues to produce adverse effects on both sides of the Atlantic. In Europe, the fate of Greece crystallizes all concerns. Discussions on extending the term of the loan could still affect banks in Europe and the United States and creates a strong element of uncertainty in the stock market.

Wall Street is also proven by the uncertainties surrounding the U.S. debt.The U.S. Treasury announced Monday new measures of financial emergency to allow the U.S. federal government to continue to operate while the government fails to obtain an increase in the statutory limit on public debt, which was reached on May 16

Oil down

The market is also impacted by the downturn in the energy sector, while a barrel of crude has dropped more than $ 2 Monday in New York. On Tuesday, the decline continued on the New York Mercantile Exchange (Nymex). A barrel of light sweet crude for June delivery ended at 96.91 dollars, down 46 cents from the previous day."The crude market is a follower, very responsive to the dollar and the stock market," noted Rich Ilczyszyn, Lind-Waldock.

On the foreign exchange market precisely, the euro was changing, however, rose slightly on Tuesday against the dollar at 1.4156 dollars against 1.4153 dollars late Monday.

Bad news on the front of the property

More disturbing for operators, housing starts and building permits for homes have fallen sharply in April, the oversupply in the market, particularly related to foreclosures, discouraging new projects. According to figures released by the Commerce Department, housing starts fell 10.6% on a seasonally adjusted at an annual rate of 523,000 units, against 585,000 units in March (549,000 first announced) and 568,000 units expected by the market.

Moreover, industrial production in the United States remained stable in April, said Tuesday the U.S. central bank (Fed), while analysts believed it was up 0.5% from March.

HP heavily penalized

The side of values, Hewlett-Packard (-7.31% to 36.89 dollars) on Tuesday reported a sharp reduction in its annual forecast, highlighting the impact of the earthquake in Japan and lower sales of personal computers . The annual profit forecast was lowered to "at least five dollars per share, excluding special items, after a previous forecast of between" 5.20 and 5.28 dollars. "

Wal-Mart (-0.96% to 55.52 dollars) Tuesday reported a profit and a better than expected sales in the first quarter and delivered a goal in line with expectations for current quarter.[ID: nWEA1793] Earnings per share (EPS) from continuing operations stood at $ 0.98 over the period from January to March, against 0.95 expected by analysts according to Thomson Reuters I / B / E / S. Sales rose 4.4% to 103.4 billion, against a consensus of 102.93 billion.

Boeing (-1.41% to 76.67 dollars) has won an order from the U.S. Air Force $ 963 million for the construction of 5 C-17 cargo planes.In the same sector, Lockheed Martin hopes to sell 18 fighter jets F-16 fighter in Iraq and Oman by the beginning of 2012 and record orders for 100 additional aircraft F-16 in the world of By the end of the decade.

The casino group Las Vegas MGM (1.32% to 14.54 dollars) hopes to raise $ 1.5 billion public offering in Hong Kong by introducing its China branch, MGM China, a partnership between the U.S. parent and the daughter of the tycoon game that rules over Macau, Stanley Ho, said Tuesday the Wall Street Journal. The IPO is scheduled for early June.

The ambitions of BP (0.66% to 42.74 dollars) in the Arctic have suffered a serious setback after the oil giant announced today that no solution had been found on its proposed alliance with the Russian public group Rosneft in oil exploration.The agreement on a share swap of 16 billion dollars (11.2 billion euros) expired last night and the main obstacle to its realization, namely the opposition of the Russian shareholders in BP's joint venture in Russia , TNK-BP, could be lifted in time. The British oil company said that talks with Rosneft would continue despite the expiration of this Agreement. But people close to the Russian group claimed on their side that it was going to seek "new partners".

Moreover, a prosecutor in New York has opened an investigation into dubious practices to transform mortgage securities, says Lewalle Street Journal.Officials at Bank of America (+0.34% to 11.90 dollars), Goldman Sachs (+0.13% to 140.78 dollars) or Morgan Stanley (1.38% to 24.21 dollars) must be heard in the week by Attorney Eric Schneiderman.

Also note, the battle over the takeover of the transatlantic exchange operator NYSE Euronext (-3.44% to 34.50 dollars) ended Monday with the withdrawal of the cons-hostile bid launched by Nasdaq OMX (-1 , 07% to 25.95 dollars) and IntercontinentalExchange (-1.36% to 120.56 U.S. dollars), who threw in the towel before the opposition of the competition authorities.

Strawberries that taste, crunchy and tasty carrots, strained the farm … in good milk products of the 450 gardeners and farmers grouped under the name the small producer a hit in supermarkets. Latest additions to the range, dairy products available since March in more than one hundred Monoprix Paris. "I sell yogurt 20,000 per month to Monoprix, which has undertaken over one year," said Philippe Ridet, a farmer in the Yvelines Allainville. My products are best valued by at least 10%. "

An approach that meets the expectations of consumers. "The future of agriculture is at the local! Launches Bruno Le Maire, Minister of Agriculture and Food, a staunch supporter of the Small Producer. Import apples from Chile is an economic and social aberration.Consumers understand less and less why, in France, we are bringing products from across the world. "

But to bring supply and demand, it was still necessary to involve the supermarkets. "The idea is to create a link between man-made production, the farmers and consumers," said Stephane Macquaire, Managing Director of Monoprix. It is up to us to further develop this proximity between production areas and our customers. "This loyalty to our customers who have confidence in these products," adds Didier Debievre relations director with the agricultural world at Carrefour.

The latter has also embarked on the process. In the hypermarket Carrefour d'Aix-en-Provence, Ludovic Bonnafoux, a small producer in Grans, near Salon-de-Provence, is two months since the incumbent local provider.Photo of the gardener and his wife Magali is displayed in a large center island fruit and vegetable store online cash advance. Last week, the baskets of pot-au-feu accompanied by a recipe went like hotcakes. "It's just my department, I want it to be perfect," said the gardener, who regularly checks the status of the stand. "This partnership assures me every week and saves me an outlet to sell off my surplus," said Ludovic Bonnafoux.

Distributors to the local search

"The original idea was to allow consumers to know where did the products," explains Nicolas Chabanne, founder of the Small Producer, an association formed in 2003 to assist producers. He began by organizing direct sales at farm, then became known by delivering hospitals, the press and politicians.First and foremost the president, Jacques Chirac at the time. After four years, Bernadette eventually even receive the producers in the hall of the Elysee. Next step by the summer school canteens. Bruno Le Maire, who wants to change the legislation on tendering, will enable them to buy from local producers.

Small Producer of Fame, which was formed in the meantime a limited company, it has gradually win against the distribution. Sold up to 30% more expensive fruits and vegetables appealing all signs, happy to have more than one partner. The small producer, which began with convincing luxury shops such as Fauchon and La Grande Epicerie, now 600 products referenced in a thousand points of sale.Its sales this year expected to exceed 10 million euros, three times more than last year, and hopes to be the beneficiary in one year. His next challenge, decline the concept of small producers in the meat.

"I read too often that Sodexo is a leader in Catering, complains Michel Landel, chief executive of the group. Sodexo is no longer a catering company. We have developed expertise in other trades. Today, we offer comprehensive solutions that include food services. "To illustrate his development, the boss added:" We take care of all our customers, but their job! It is a unique and original position. "

Sodexo still remains the world number two catering, behind Britain's Compass. This activity still accounts for 70% of its turnover! But for several years, this percentage tends to decline in favor of other benefits, growth and higher margins.

Sodexo now offers services ranging from assistance for the reintegration of prisoners, janitorial company and maintain medical equipment in hospitals. This year the group has won a contract with Nokia in China, to handle the technical maintenance of production plants phones manufacturer in Beijing and southern China. United States, the company was chosen by the city of Detroit for the restoration of 101,000 students in 136 public schools … But it will also provide maintenance, cleaning and maintenance of buildings and green spaces. Nothing to see, therefore, with the restoration …

Accelerate diversification

"While the food services grew on average by 3.5%, other services rose by 7.8% and their share rose from 18% to 25% of sales in four years," said Michel Landel .In 2008, Sodexo had bought the German Zehnacker, offering in Germany, Austria, Switzerland and Poland services to hospitals.

To accelerate diversification, Michel Landel is considering new "small or medium-sized" acquisitions, outside catering. Irrespective of these potential acquisitions, he pointed to the prospect of 4.5% growth in turnover, while confirming the annual target for operating income up about 10%.

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World According to information dated Sunday-Monday, Turbomeca, a subsidiary of Safran's aerospace equipment, was the target of industrial espionage between January and September 2010, via its computer systems. This cyber-attack led to the opening this fall of an inquiry by the Central Directorate of Internal Intelligence (DCRI) to "introduction, removal and fraudulent alteration of computer data" the newspaper reported. Since then, more than a dozen people were put in custody, including employees of the group. Accurate knowledge of the company's computer systems have in fact led investigators to pose the question of a possible internal involvement.

The data referred mainly concern the technology of propeller systems designed by Turbomeca, the world leader in helicopter propellers, as well as financial data of its parent.Those responsible for this case considered "the most important spy of 2010" by DCRI would have gone by computer systems and mailboxes for company employees to access the global systems group, and confidential information technologies Turbomeca. Remains to be seen to what extent the employees concerned were aware or not these actions the newspaper, which refers to possible "corruption" pay day loans.

The Chinese track, yet …

As for the Renault affair in the early stages of the investigation, the question arises of a possible involvement of a Chinese company, which is more partner Safran, and would have flown the intruder. They could have been motivated by the desire to "bridge the technology gap and to ensure that Saffron does not cheat on the recharge equipment sold to the Chinese Turbomeca" said an inside source in the world.

Nevertheless, the investigation should be closely monitored in the coming weeks. The many twists on the Renault affair continues to fuel the wildest rumors. No track should be set aside for the moment to avoid a second scandal in a company the size of Safran.

A folder that is even more sensitive than the activity of Saffron is highly strategic (the group team of military aircraft) and the French state owns 30.2% stake in the aerospace equipment. The group will publish its annual results on April 21, at the same time it will hold its general meeting. Until then, it should remain very secretive about the specifics of the investigation.

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Renault management will be held accountable to employees disoriented and increasingly frustrated. "Since the beginning of this case, teams are troubled because management has never been able to bring the three elements that warrant dismissal. This is all that some people complained of enjoyed a genuine will on the human level, "said one of them. But today, when leaders make about face, the executives, who had to take over two months during the certainties of management, are extremely frustrated and worried. Their confidence in top management crumbles to the rhythm of press revelations, "he says.

"We're clearly not happy and we are asking more questions about how the investigation was conducted and how decisions were taken. In any case, what has been done does not match what we expect of our leaders.It's very shocking because it is a denial of our culture. These three frames were attached to the company, as I am and my colleagues, "says an executive from a different direction. Resentment towards the top of the company is palpable. "We welcome the decision to return the frames unfairly jeopardized if it is confirmed that this is the case.We demand further that meet at an earlier board special for Patrick Pelata and Carlos Ghosn, the two CEOs of the company, speak on this matter and take everyone with their responsibilities, " said Friday a representative of the CFE-CGC.

"Ghosn must take the consequences"

Patrick Pelata, number two in the group, who said in Le Figaro that if there was no case of espionage, he "will draw all the consequences," accusing eyes are now turning to Carlos Ghosn, CEO . "I think that employees would not understand that the CEO does not resign, especially since it does not have a capital of sympathy particularly high," said a third frame. Many people accuse him of having undermined the group."Carlos Ghosn said he expressed his certainty in the media to protect the company, but in reality, if all that is wrong, it will have destroyed our reputation by falsely accusing employees. It must draw the consequences, "adds the frame.

Employees also questioned the management style that would have resulted in these abuses. "If these three executives were sanctioned on the basis of the testimony of one person, it means that person's word is worth more than the employees, accuses Fabien Gache, central delegate of the CGT. We call for a thorough review of the organization Renault employees must be respected and listened again.Today, all decisions come from above. "

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François Fillon in his office at the Hotel Matignon, Thursday.

To prevent another crisis that could be fatal to the single currency, Germany and France have persuaded their EU partners Friday to convene in March a special summit of the eurozone. Their goal is to improve the convergence of economic, fiscal and social seventeen Member States, to establish a general discipline that applies to everyone. What to reassure markets and boost the competitiveness of Europe facing emerging markets.

It's Angela Merkel, who took the floor first, with Nicolas Sarkozy, to read the Franco-German declaration in favor of a new "competitiveness pact" between the seventeen members of the eurozone. "Defending the euro implies a closer economic cooperation, with final decisions to be taken next month."We want to move to Germany with a new stage, emergency measures for structural reform," continued the French president, stressing once again that France and Germany put forward "hand in hand on this subject.

But if there's agreement "in principle" a greater convergence of details of the measures and tough decisions are postponed. Given the opposition of Belgium, Ireland and Luxembourg in particular, Berlin and Paris have finally decided on Friday to prepare the list of chapters to be discussed.

Berlin looking for a few days to make its mark, presenting six tracks of work, including the controversial abandonment of any indexation of wages on prices, raising the retirement age and harmonization of corporate tax . The head of the French state has preferred to talk of "convergence necessary.""This is not to deny the specific" country-specific, he said, including taking the example of the French minimum wage: "This is the only index that remains in France and will remain so. "Similarly, it is not to impose on anyone a higher mandatory retirement age, that Belgium is concerned, or a minimum rate of corporation tax, which worries Ireland no teletrack payday loans. "There is no question of absolute identity" between European countries.

Angela Merkel, who must convince the liberal wing of his government on the merits of aid to debt-distressed countries, sees clear targets an essential counterpart to the solidarity provided by the European Union Solidarity Fund (FESF). Yesterday, the Europeans have agreed to provide funds to rescue insolvent countries' flexibility and capacity "necessary.This is to reassure the markets who want to increase its lending capacity by about effective 250 to 440 billion euros. Voice heard on the markets, the American financier George Soros thought yesterday that the euro crisis is being resolved "because the determination is now" between Member States.

German Revolution

Germany will contribute. Berlin began a revolution by siding with the idea of European governance long standing from Paris. "Since 2008, the crisis has shaken many certainties. The euro area has no choice, says it's French side. Before it was thought possible to organize a monetary union without political union, now everyone realizes that it does not work. "Angela Merkel did not say anything saying the pact was to competitiveness" show that our cooperation becomes closer. "Left to move the cursor on the dials in Europe. "We want to converge, bringing us closer, as the European Union but also as member states," said the Chancellor. Clearly, it is the governments of the eurozone become engines of integration. There is a certain pragmatism: Commission suffers from a democratic deficit, and it is ultimately the country, their leaders and taxpayers who bear the brunt of the crisis.

The idea of the pact to seventeen recorded as black on white a reality obscured by the mechanics piously Community: Crisis, what are the Member States take the initiative, including the Franco-German engine.

After retirement, Bernard Thibault has found a new battle cry against the government: 35 hours. The boss of the CGT intends to fold the Executive following a decision by the European Committee of Social Rights (ESCR) – 15 independent experts appointed for six years and responsible for judging compliance with State law the European Social Charter – who "found a violation by France of the charter in terms of time working" on two points: the day passes and penalties.

The regulation of day passes (employees working a specified number of days in the year) would be contrary to European law because of weekly working hours' too long to be considered reasonable "(up to 78 hours week) and a violation of overtime laws (the package to employees who can not do).According to the CEDS, the system of penalties would be contrary to the rules applicable to weekly rest. "This is a decision of great significance since it potentially involves millions of employees," said the CGT leader that sum "the government and French companies to comply with the charter." Even if states are not required to comply with the decisions of CEDS – France has been "convicted" twice for the same reasons not taken into account – the boss of the CGT considered "appropriate" to them and even "force of law."

No legal

And Bernard Thibault, therefore, prevent: "Employers should be aware that some of their agreements ( guaranteed payday loans…) are considered contrary to the European Social Charter and, as such, reprehensible." And if companies do not want to reopen negotiations, the CGT will attack before the high court and its designees will initiate proceedings before industrial tribunals. "We will get the punishment of all those who will not comply, I can assure you", asserts the head of the Central Montreuil targeting the companies that make their employees at the maximum fee allowed by law, or 78 hours per week. Bernard Thibault, do not despair that companies ultimately doomed to return against the state for him to claim substantial damages. "It's happened before, it can happen again," he assures.

Xavier Bertrand, Minister of Labour, will not amend the legislation on working time. Neither today nor tomorrow. "What is the legal significance of this decision?" Pretended to consider Monday a close: None. No more than the recommendations of the Committee of Ministers of the Council of Europe (which brings together foreign ministers) to which the decision of the CEDS was sent on September 13. The Committee of Ministers – which postponed on December 8 last consideration of this issue – had not followed in 2000 and 2003, the CEDS lesavis on mêmesquestions.

Reportedly, Air France is preparing to do, too, appealed the decision of Concorde trial. Continental Airlines announced that it appealed from the verdict on December 6 last. The American company was convicted at trial and fined 200,000 euros for his criminal responsibility in the disaster and to pay one million euros in damages to Air France instant credit reports. According to a close case, "using Air France chooses a strategic positioning that will allow him to continue to have access to the file and avoid twisting shot from the opposing party."