International & World Report

The Tokyo Stock Exchange plays yo-yo since the beginning of the week. After losing more than 1% Wednesday, the Tokyo Stock Exchange shows a sharp rebound of 2.18% to 8828.38 points. Investors reacted positively to the new fence up Wall Street but also the weakening of the yen that benefits Japanese exporters. Thursday morning, the dollar advanced in effect from 0.13% to 77.06 yen while the euro gained 0.05% to 110.99 yen.The Japanese Minister of Finance, candidate for prime minister, announced Wednesday a package of measures to counter the effects of the outbreak of the Japanese currency.

As a result, car manufacturers progressed significantly: Toyota climbed from 2.46% to 2785 yen, Mitsubishi rose 2.8% to 1761 yen and Honda advanced 5.9% to 2456 yen.

Oil prices rise

Other Asian financial centers also evolved significantly in the green, including the Chinese stock exchanges: the Hong Kong Hang Seng gained 1.55% to 19,767.60 points and the CSI 300 took 2.42% to 2878.01 points.Otherwise, the Kospi Index was up 0.86% to 1769.84 points, the S & P / ASX 200 in Sydney gained 0.88% to 4204.40 points and the FTSE Straits Times rose 1.21% in 2752, 77 points.

Oil prices were up Thursday morning during electronic trading in Asia, in a market sensitive to the situation in Libya and cautious speech eagerly awaited the head of the U.S. central bank (Fed). In morning trading, a barrel of "light sweet crude" for delivery in October has appreciated by 14 cents to 85.30 dollars per barrel of Brent North Sea crude for October delivery took 21 cents to 110.36 dollars .

"Real estate: the cropped Scellier

"Niches: plane and down the ceiling

"Companies: rising social package

"Other tracks: capital gains on the hot seat

Operation must! The government will this week attempt to convince the financial markets on its ability to control public finances. François Fillon unveiled late Wednesday afternoon in the presence of Baroin and Valerie Pécresse, the Ministers of Economy and Budget, the new conservation measures for France to retain investor confidence and its " AAA. "

The government enters the final stretch trade-offs. François Fillon and Nicolas Sarkozy meet to sort the list of suggestions made last week by Bercy (and amended by the relevant ministries) and begin to remove some tracks.Then the president and prime minister Wednesday to finalize the measures to adopt.

The government did not release the extent of the plan, but it evokes an effort between 5 and 10 billion, and a trend towards the top. The turn of the screw will break down between savings on public spending and further cuts in tax and social niches.

On this last point, the government does not start from scratch. The measures that were passed in the fall (tax on marriages, on the solar panels, niches plane, etc.). Will yield 2.4 billion in 2012. But we'll have to do much more. There is another month, the government did not request such an effort to households and businesses. He planned to take samples of only 3 billion. With 2.4 billion already in the pipeline, the step to take was minimal.But since the degradation of "AAA" rating from the United States, France finds itself under pressure from the markets. Even if it borrows at low levels (2.74% at ten years), a sign of confidence that it continues to generate, France must do everything to protect his note. For if it were lowered, the state should borrow at higher rates. According to the Court of Auditors, an increase of one point would increase the debt burden of $ 2 billion the first year. To prevent a runaway cost of debt, the government should not deviate from its route.

Increase in the social package

Paris has pledged to reduce its public deficit to 5.7% of GDP in 2011 and 4.6% in 2012. This objective was particularly complicated since the Insee reported zero growth in the second quarter. Bercy forecasts an increase of 2% of GDP in 2011 and 2.25% in 2012 now seem too optimistic.On average, economists expect now on a 1.4% growth next year. However, less growth means less tax revenue and more spending for the state, the social security and local authorities. Without necessarily announcing Wednesday a revised its growth forecasts, the government is obliged, if he wants to keep its deficit targets, to take austerity measures …

Increase in the social package for businesses, new plane and lower overall ceiling of niches, penknife devices ultramarine and real estate … the tracks are not lacking. The government also provides measures for the social security system, not to mention taxing very high incomes as suggested on Wednesday, Maurice Levy, president of Publicis and the Association of Private Enterprises (Afep), in an article in Le Monde ."We need efforts that will be requested to the French are fairly distributed," assured the same day Valerie Pécresse on Europe 1. The measures adopted will be included in budget 2012.

France can she get into the spiral of Greece, where budget cuts exacerbate the recession, which in turn widens the gap? A priori not. This year, increases in taxes, resulting from the measures passed in the fall, reached $ 12 billion. Without destabilizing the country.

Real estate: the cropped Scellier

Before the crisis, Bercy was considering reducing benefits. The pressure is greatest.

• Law Scellier

The niche Scellier reduces its tax by investing in rental real estate. It was expected that the tax reduction equal to 22% of the investment in 2011 reaches 18% in 2012.The reduction could fall to 15%.

• Ready to zero +

There are plans to reintroduce a means test for the loan (PTZ), in order to focus on vulnerable households.

• Capital gains on real estate

The capital gain on the sale of a principal residence will remain tax exempt. For other assets, the gain is taxed at 19%, plus 12.3% social. However, there is a reduction (10% per year after five years in prison) that applies to the capital gain and will disappear for undeveloped land for building. It is also the question of decline (eg 5%) for other goods.Another track: the system of reduction of the gain disappears for the payment of social security contributions.

Niches: plane and down the ceiling

The tax loopholes will undergo a new movement of the plane after the last year which affected 22 devices (Scellier, actions overseas, the tax credit for environmental equipment in the house). The rate of tax reduction was reduced by 10%: a rate of 50% was increased to 45%, a rate of 25% to 22% … The measure, however, has yet to be felt, because the first plane applies to the income tax paid in 2012, sitting on the revenues of 2011. The government planned to meet the plane in 2011 (eg 15%) and pass a new tax on plane sitting on the revenues of 2012.
Widely used devices, such as overseas benefits or tax credits for equipment of the house will still be trimmed.MPs want all the niches are planed. Others will disappear. In addition, the overall ceiling of niches, set at 6% of income over 18,000 euros, will be lowered.

Companies: rising social package

Social package, paid by companies on the profit-sharing and employee savings, should be increased from 6% to 8%. Expected gain: 400 million euros. Since its inception in 2009, the government increased the fee by 2 points every year! Systems loss carry-on prior and subsequent, which limit the corporate tax should be reduced. They benefit primarily to large companies but the government wants to rebalance the tax burden with the small. The carry-back would
limited to one year. And to carry forward losses from the profits would be capped.In Germany, the losses charged can not exceed 60% of the profit. However, the idea of ​​limiting the deductibility of loan interest is difficult to implement.

Tax on very wealthy households

The government pledged in the spring to tax high incomes, and a working group must report its findings in the fall. Two tracks are at this stage on the table to non-deductible from corporate income tax payments "extravagant" or create a new tax paid by very wealthy households. The latter option holds the rope in the government because it has the support of parliamentarians. Gilles Carrez, the rapporteur of the budget UMP
in the Assembly, propose to tax at a rate of 1% or 2% revenues exceeding one million euros per year. But Peter wants Méhaignerie the new tax applies from 150,000 euros to 200,000 euros in annual income for a couple.The lively debates ahead!

Other tracks: capital gains on the hot seat

Gilles Carrez wants the taxation of life insurance is carried over the water each year on their earnings potential, while households are now taxed when withdrawn at a variable rate depending on the length of detention ( 7.5% after eight years). Another idea: adjust the taxation of life insurance, whether it is placed in shares or products without risk. The UMP Jérôme Chartier wants to create an additional ceiling on tax loopholes, reducing to 50% of tax due from the advantage of niches. But Bercy is not favorable. Finally, many parliamentarians call for the removal of reliefs on capital gains from stocks and bonds (third year in excess of five years from 2012).

Shortly before opening, chewing Americans were expected small decline, but volatility remains very high, the index futures may return at any moment, like the indices themselves. Shortly before noon Paris time, the index futures Standard & Poor's 500 and Nasdaq 100 yielded respectively 0.3% to 1165 points, and 0.37% at 2150 points.

On Thursday evening, U.S. markets have rebounded sharply, welcoming new listings weekly fewer than expected. European markets had also enjoyed the news, closing up vigorously.

The pressure remains strong this weekend

Other statistics on the agenda for this Friday, may well generate a few responses. Retail sales for the month of July will be unveiled at 2:30 p.m., in fact, before the start of the session Eats United.Investors await with interest the first estimate of consumer confidence from the University of Michigan for the month of August, from 3:55 p.m..

Pressure remains high on world markets. Lack of macroeconomic and really good news in the absence of major business publications Friday, this weekend is likely to be overshadowed by even more obvious signs of a weakening of growth. The sovereign debt crisis, and severe drops in banking stocks recorded this week, amid rumors of bankruptcy, particularly in France, will affect the trend no fax payday loans.Asian stock markets have already finished down on Friday morning.

In this context agrave exacerbated by a volatile market, investors are going to look at publications such as retail sales, which should also benefit from a slight rebound in auto sales?

Difficult to answer this question. For analysts Aurel BGC, "while" so far the timing of publications of macroeconomic indicators has been poor, a reaction, positive or negative, this indicator would in any case an early normalization "of market behavior. Excluding cars, the indicators are still available for now more mixed.

On the corporate side, the U.S. airline AMR, parent of American Airlines, announced plans to separate its regional affiliate American Eagle.A document filed with the stock market regulator described a "possible separation" with the American Eagle to introduce the stock market separately. American Airlines is still bound for nine years in its subsidiary. American Eagle will continue initially to operate 281 aircraft for American Airlines, which will wind down its cooperation in 2012.

Firefighters desperately looking for financial markets. For a month, the Cac 40, which recorded its ninth session Thursday consecutive decline, has lost 17%! And the stock market this week might conclude on the tenth. Shortly after opening, the stock market index fell by 2.09% to 3250.95 points.

On other European financial centers, the atmosphere is also depressed: the Footsie-100 from the London Stock Exchange 2.58% to 5254.11 loose points, the DAX 30 Frankfurt Stock Exchange fall 3.85% to 6167.96 points, the FTSE MIB in Milan leaves 3.44% to 15,573.84 points, the Madrid Ibex 35 yields 1.96% to 8516.20 points, the Bel 20 in Brussels is down 3, 61% to 2143.45 points.

In anticipation of U.S. employment figures

That can extinguish the fire which engulfed global stock markets? The President of the European Central Bank, Jean-Claude Trichet, it is tested in an exercise it is broken.Without having reassured, he did not panic by not clarifying his intentions on debt buybacks. "It's the return of the behavior of crisis," says Aurel BGC in it.

Consequence: the main European stock markets fell 3% to 4%, Wall Street plunged 5%, Asian stock markets slumped 2% to 5%, oil is trading around 85 dollars a barrel and not to vicinity of $ 100 as there are about ten days, and gold flies to 1700 dollars per ounce. A scenario that is not yet catastrophic according Volokhine Gregori, president of Meeschaert Capital Markets. "We're not on a" bear market "(bear market over a long period), he says.We will be there when the stock markets lose 20% per week. "

After the publication of interim results of the banks, the speech of Jean-Claude Trichet, investors will monitor closely the figures for employment and unemployment in the United States for the month of July (1430). "This does not fundamentally change the market trends, said Grigory Volokhine Business on BFM.

The trade deficit declined in June

Most investors expect to know if there will be further monetary easing to support the U.S. economy and if European countries are finally going their act together. " Same story on the side of Aurel BGC. "Even a figure in line with expectations should not prevent markets brooding, said Christian Parisot, chief economist at Aurel BGC.Hopefully a little bounce if it exceeds the expectations. "

Other macroeconomic news: the trade deficit of France. He was greatly reduced in June to 5.598 billion euros, after 6.415 billion in May, according to data released Friday by Customs.

On the corporate side, the last two banks issued after market close on Thursday night: Natixis and Dexia.

Natixis: -3.29% to 2.676 euros

Natixis on Thursday posted a net profit above expectations in the second quarter thanks to a sharp increase in the contribution of results from regional banks of its parent BPCE (People's Bank – Savings Bank).

Dexia: -6.88% to 1.54 euros

Dexia announced the heaviest loss in its history, a performance due to both the sale of a portfolio of toxic assets – centerpiece of its restructuring plan – and its contribution to the aid plan on sovereign debt Greek.

Carrefour: 18.56 euros stable

Carrefour announced a new reorganization of its management, including replacing its chief financial officer, when the group just straightening operations in France and suffered a major strategic setback in Brazil.

LVMH: -2.30% to 112.55 euros

LVMH said Thursday it had received approval from Consob, the Italian stock market authority, for offering Italian jeweler Bulgari on which he announced the takeover in March.

Vicat: -5.47% to 44.24 euros

Vicat said Thursday expect a slight reduction of its operating margin in 2011 due to the revolution in Egypt, the rising energy costs and start-up costs of factories in India.

Courted by the stock exchanges around the world, Chinese private enterprises would they be about to fall into disgrace? After several scandals revealed in recent weeks, rating agencies go up to the plate one after the other. Fitch Ratings yesterday estimated that fraud cases were probably only just begun in the Middle Kingdom.

The U.S. agency has assessed 35 companies listed on the Shanghai and is ready to review its portfolio of Chinese. She considers their standard accounting and trading in Shanghai as many "key indicators of their weakness."

Although the Chinese accounting standards, adopted in 2006, are very close to IFRS (international financial-reporting standards), audit firms have not the confidence of investors, and obviously not the rating agencies which still largely prefer the four major (Ernst & Young, KPMG, PriceWaterhouseCoopers and Deloitte & Touche).The Fitch report said that companies from these large firms "would be more difficult to publish than those fraudulent reports go through domestic companies."

Fitch does not mean to review the scores awarded to different companies observed, adding that they "are already taking into account the context of a Chinese legal environment and an under-developed documentation, practices and specific business low corporate governance practices. "

Nevertheless, this case is the latest blow to Chinese companies. Last week, Moody's, which was hoisted the "red flags" of sixty-one companies that note. Fitch's rival evoked particular the opacity caused by a family shareholding in forty-three of them.

For several weeks, scandals involving Chinese companies listed multiply.Everything was packed in June, with the case Sino-Forest the title of which collapsed in Toronto. Since February, the business of handling accounts or misrepresentation of results had already forced many companies to delist in the U.S..

Loss of confidence

In total, nearly forty companies have shown irregularities, not the United States. The Securities and Exchange Commission (SEC), Constable of U.S. markets, has established a special committee to investigate these Chinese companies.

Hong Kong is no exception.The financial analysis firm Dealogic calculates that Chinese private enterprises were canceled or postponed them of trading, the equivalent of $ 3.8 billion.

Finally, there is a shift among investors who gradually give more confidence in the state, whose sovereign debt is rated A + by Fitch and Aa3 by Moody's, as private companies.

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

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

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

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

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

European Summit on 21

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

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

ALSO READ

"The health of banks bulletins released today

Pressure mounts on Barack Obama. While the deadline of August 2 approach, the U.S. president can not convince Republicans to vote on raising the debt ceiling of the United States. He must now face the threat of a deterioration in the country's sovereign rating from Moody's. Wednesday evening, the rating agency said it could in the coming weeks to lower the American note, currently the highest possible AAA, AA category, which is an investment category.

Moody's became the first of the three major rating agencies to place the note in the United States under surveillance with risk of a downgrade. In a statement, she said, receive "a possibility of increasing the maximum statutory debt is not found in time."Without an agreement, the U.S. could miss some payments on government bonds in circulation, she says. The dollar and U.S. bonds fell after the announcement. The dollar's share has compounded its losses. In morning trading, the euro is worth 1.4196 dollars.

The agency intends to end the monitoring as soon as it can conclude whether a defect is avoidable or not. It will then decide if the United States are entitled to keep a stable outlook on their ratings, on the basis of the budget negotiations between Democrats and Republicans. But even if Congress manages to avoid a technical default in August, increases the likelihood of a revision of the outlook to negative in the weeks following, told Reuters Steven Hess, Moody's analyst."The fact that they do not agree on are the maximum debt shows that the outcome of negotiations on the status of long-term debt may not be very positive," said he.

Recall

Following this announcement, the Deputy Treasury Secretary for Finance interior, Jeffrey Goldstein, said the Moody's decision was a timely reminder of the need for Congress to avoid a default and to seal an agreement to reduce serious budget deficit.

For Democrat Chris Van Hollen, the words of Moody's demonstrated the danger in the ideological debates. "The fact that Moody's places the United States under surveillance and downgrade our rating to AAA underlines the danger of those who would do our economy and our jobs hostage to a rigid ideology instead of acting in the best interests of our country, "he said.

Tense discussions at the White House

The opinion of Moody's fell just before the fourth interview in four days between Barack Obama and the leader of the Congress. According to a Republican parliamentary attaché, she was the most tense of all. To conclude the meeting of Wednesday, the president of the United States would have meant he would no longer concession, even if it were put at risk its mandate. "I got to the point where I have to say 'enough is enough!" Is Ronald Reagan would sit here? I reached my limits. This may possibly lead to the end of my presidency, but I will not yield on this point ", would he have said.

Denying the information that the President had left the room abruptly, an audience member who requested anonymity confirmed that he had expressed his exasperation, saying, "Enough!".Barack Obama, who will again parliamentary leaders on Thursday, has also asked to renounce the political maneuvering, according to a member of the Democratic Party.

In this context, the President of the U.S. central bank (Fed), Ben Bernanke, warned that failure to pay the United States would create "huge problems" for the country and a "major crisis" in the world .

ALSO READ:

"S & P reiterates its concern about U.S. debt

"The United States may lose their AAA rating

In the fight against deficits, the prize for creativity back to Hungary. It has introduced a "hamburger tax" which, as its name does not indicate, not only will tax the burgers, which are beyond the last minute. In reality, this new collection in September will affect the crackers and sugary soft drinks high in sugar and packaged cakes.

This offensive against junk food is primarily aimed at combating the scourge of obesity, which affects 18% of the population. "Studies in recent years on the eating habits of Hungarians and health effects show that the problems associated with excessive consumption of fat and salt have increased," says Minister of Economy, György Matolcsy no faxing pay day loans.

This tax also has the advantage of the coffers of a state that really needs.Faced with abysmal deficits, the IMF ordered to redress the balance, the government of Viktor Orban multiplies the creation of new taxes, including banks, telecommunications companies, energy and distribution. Never mind, especially since he swears the "hamburger tax" will finance advertising campaigns on food hygiene.

ALSO READ:

"The American campaign against junk food

Asian stock markets continue to ride a wave of optimism after the Greek Parliament voted Wednesday austerity plan imposed on the country. Allowing it to qualify for the new tranche of international financial assistance of 110 billion euros was granted last year. As clashes continue between now expected between demonstrators and police, MPs are now called to vote on the bill of the plan voted on yesterday.

The Nikkei 225 gained 0.36% to 9832.72 points. The increase is significantly more pronounced in Chinese markets: the Hang Seng in Hong Kong climbed 1.70% to 22,436.80 points and the CSI 300 in Shanghai rises from 1.51% to 3045.50 points.

On the other Asian financial centers, the trend is similar. The Taiwan TAIEX advances 0.43% at 8610.54 points.In Australia, the S & P / ASX 200 is 1.49% at 4597.10 points, the FTSE Singapore Straits Times gained 1.04% to 3111.73 points and in India, the BSE Sensex was up 0.24% to 18,738 points.

South Korea, Asia's fourth largest economy, has lowered its growth forecast for 2011 to 4.5% against 5% originally planned, due to rising oil prices. In addition, inflation is expected to reach 4% for the year, against 3% originally planned. The Kospi gained 0.47% to 2104.21 points.

A successful introduction to Buy Your Dreams

This good news from Greece strongly supports the bank stocks. In Hong Kong, HSBC Holdings climbed 2.17% to 77.6 Hong Kong dollars and Bank of Communications is 1.91% to 7.46 Hong Kong dollars.In Japan, Mitsubishi UFJ Financial Group climbed 2.35% to 391 yen and Sumitomo Mitsui Financial Group was up 1.97% to 2485 yen.

Note that the Stock Exchange of Shenzhen (southern China), the action of the automaker Build Your Dreams (BYD), in which the American billionaire Warren Buffett owns 9.89%, soared 43.7% to 25.87 yuan for the IPO.

In addition, the South Korean giant Samsung Electronics filed a complaint against Apple to prevent it from importing to the United States several of its most famous products manufactured abroad. At the Seoul Stock Exchange, Samsung lost 0.84% ​​to 826 won.

Oil prices without direction

Oil prices were without leadership in electronic trading Thursday in Asia after sharp rise in the day following the adoption by the Greek Parliament of a tight budget, analysts said.In morning trading, a barrel of "light sweet crude" for delivery in August took 15 cents to 94.92 dollars. That of Brent North Sea crude for August delivery fell by 32 cents to 112.08 dollars.

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

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

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

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

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

Opening of the Paris Air Show

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

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

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

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

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

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

"CONTEST: Estimate the Cac 40 in late June

ALSO READ:

"With ZEHST, EADS gives an heir to Concorde

"Le Bourget private A380 because of a stupid accident

"Aid to Greece: the private sector put to