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After the French and Finnish, is Britain's turn to make reservations on the flight control system of the EPR, the third generation reactor group Areva, supported by EDF. Management of Health and Safety UK, the body responsible for the safety of the nuclear industry in the United Kingdom has warned Friday it could not agree to the concept of the EPR and that the Westinghouse AP1000 reactor, the nuclear subsidiary of Japanese group Toshiba.

The safety authority said it nevertheless continued to believe that the two concepts could be suitable "for building new nuclear plants in the United Kingdom, but the two designers had" much work was carried out to meet our questions (…) security. "

The Areva group immediately responded

"It is quite normal that questions be raised before the final certification and the launching of a new reactor. These exchanges are integral to a transparent process, "responded immediately Areva group, chaired by Anne Lauvergeon, in a statement. The evaluation process should not end before 2011 and the first plant should be started in 2017.

In the News group Areva, the sale of its subsidiary transmission and distribution power T & D. While the choice of buyer is expected very soon, we learn that the CEO of U.S. conglomerate General Electric, Jeffrey Immelt, candidate for redemption, met with two consultants Nicolas Sarkozy to defend his group's bid, the Financial Times.

Areva received November 9 three bids came from the French firm Alstom, Schneider, General Electric and Toshiba of Japan for the redemption of its T & D division, estimated at between 3 and 5 billion euros.

A first head of the FAO. He is a farmer and not least because it is the Vendee Guyau Luke, who was elected President of the United Nations Food and Agriculture. Currently a number of French Chambers of Agriculture (APCA), Luc Guyau gathered yesterday evening in Rome, 75 votes against 69 in Columbia Victor Charles Heard. The former president of the French Agricultural majority union, the FNSEA will tandem with Jacques Diouf, the current Director General of FAO. "By electing a farmer, the 190 member countries have expressed their gratitude to this profession that helps ensure a sufficient food supply and, thereby, the challenge of global food security," estimated the After the vote, Marie Besson, spokesman for the APCA. The challenge for Luke Guyau at FAO is huge while the number of hungry continues to grow.The organization does indeed more targets to reduce that number that exceeds a billion people.

"No numerical target for reducing world hunger

The Strategic Investment Fund (ISF), the SWF lights, preparing to take forward a 20% stake of Avanquest Software, a French manufacturer of consumer software is also present in the professional sector with products shipped in the mobile phones. Avantquest Software is ranked ninth among ISVs lights.

In a statement released Wednesday, Avanquest indicates that the ISP will inject 6 million euros through a capital increase that will be conducted in early 2010. The capital increase Avanquest should be a total of 8 to 9 million euros, with retention of preferential subscription rights.Taking as reference the Group's market capitalization at the close Tuesday, the ISP would hold at the end of the transaction, approximately 12% of capital Avanquest.

Meanwhile, the Strategic Fund will acquire 3 million euros in convertible bonds issued by the software publisher. The ISP also expressed readiness to participate in a "future fund raising, once a major project of external growth would, for a total investment of the two transactions exceeding 20 million euros. This second operation would be, if, before March 31, 2011, the participation of ISPs are capped at 20%.

Avanquest has already completed a capital increase in March

The ISP had set the tone earlier this year by partnering with the French association of software publishers (Afdel).The fund, whose capital is owned 51% by the Deposit and 49% by the French state has already chosen other targets in software publishing. He announced his entry with Cegedim, a specialist in customer relations for the pharmaceutical industry in which it would inject 117 million euros. But while health Cegedim is flourishing, that Avanquest is more delicate.

The company co-founded in 1984 by Bruno Van Ryb has changed in size in two major acquisitions in 2007. Avanquest has indeed swallowed Nova Development in the United States and Emme in Europe, which enabled him to climb the third step of the podium European consumer software.But last year, the company saw its sales fall by 10.6% to 104.1 million euros and has posted losses for the second time.

Last March, Avanquest, which has cut its workforce, conducted a capital increase of 7 million euros during which Oddo Asset Management has gone to join other investors (Turenne Capital, OTC Asset Management, After Flora, IDI Edmond de Rothschild Investment Partners and AGF Private Equity). The ISP should become the largest shareholder of the company while employees and managers 17.3% of total capital Avanquest.

It is a paradox: when the estimated 6.6 billion Earthlings are more than ever energy hungry, we learn that investment in exploration and production of gas and oil prices have fallen 19% in 2009 . This is one of the most surprising information emerging from the voluminous (691 pages) Annual Report of the International Atomic Energy Agency (IEA), presented on Tuesday in London.

The crisis is the direct cause of this reversal. With a corollary for the first time in forty years, global emissions of greenhouse gas emissions have decreased by about 3%."The fall in investment is bad news, says Fatih Birol, chief economist of the IEA, because when demand for oil will restart with the economic recovery, without production there could be a very sharp rise in oil prices, which in turn weaken the recovery. "

Despite this somewhat reassuring about the IEA is accused of overestimating oil reserves and minimize the risk of a shortage. So says an article published appropriately on Tuesday by the Guardian. Citing sources within the IEA, the English daily spoke of American pressures. Accusations "baseless", countered Tuesday Fatih Birol, claiming neutrality IEA reports proofread by more than 200 outside experts. "We are always criticized, but we usually blame myself instead of being too alarmist," says economist Turkish agency.Indeed, Fatih Birol ensures that non-OPEC members have reached their peak of production of black gold, not to a distant horizon, but from 2010!

By 2030, 93% of the additional energy demand will come from non-OECD countries (emerging markets and developing countries), starting with China and India. To meet these ogres, even if the international community embarked on an active policy of replacing fossil fuels (coal, oil, gas) to fight against climate change, OPEC will increase production by 30% over the past twenty years. According to the IEA, global oil demand would peak around 2025. One thing is certain, Birol summarizes: "The era of cheap oil is over."

"Scenario 450"

Investors, in turn, subject to considerable uncertainty, says he."Everyone expects that this will give the Copenhagen conference on climate," which opens in less than a month. The IEA, founded in 1974 just after the first oil shock to secure supplies of black gold, has now donned the armor of the fighting against climate change. The ministers of the 28 Member States, meeting in Paris last month, support the scenario 450. 450 "parts per million (ppm) is the concentration of greenhouse gas emissions that the atmosphere should not exceed in the second half of the century to avoid an increase in average temperature over 2 ° C. In addition, the UN experts foresee a scenario control. Follow this quota means stop increasing emissions of greenhouse gas emissions by 2020."We show, by country, by developing all the available clean energy and focus on saving energy than the 450 is a realistic scenario, provides Nobuo Tanaka, executive director of the IEA, although it will be very difficult. "

The investment, enormous, estimated by the agency to make the energy revolution is 10 500 billion dollars by 2030. But Nobuo Tanaka warned, each year of inaction will cost 500 billion more.

The Agency will depart Does Paris?

London is the annual report of the International Atomic Energy Agency (IEA) was presented Tuesday by its director, Nobuo Tanaka, as the organization is based in Paris (XV). Sign of the dispute over the location of the agency? No, the World Energy Outlook is traditionally introduced in the British capital.However, removal of the IEA (200 employees) has been raised in recent months by supporters of greater autonomy from the OECD, its parent organization, and rapprochement with countries outside OECD as China. "I love Paris," said Nobuo Tanaka on Tuesday at Le Figaro. Of reassuring the former minister Roger Karoutchi, French Ambassador to the OECD, which works to calm …

"Beijing is the king of oil in Iraq

Philippe Zaouati released last October "Responsible Investing: in search of new values to finance" published by Lines benchmarks.

Lefigaro.fr / jdf.com – What is the impact of the crisis on the demand for socially responsible investment (SRI)? Philippe Zaouati We first asked whether the crisis was not going to put the SRI in the background, because of other challenges faced investors (liquidity, market downturn). But in fact it has strengthened doubts about the liability of investors, and the need for simple products, with maturities of medium or long term. Historically, every crisis in financial markets has strengthened a little more investor interest in SRI: this was particularly the case after financial scandals related to Enron, WorldCom, or Vivendi.And this growth occurs with a ratchet effect: in other words, when we begin to invest responsibly, because we are convinced of the usefulness of these investments, there is no return back. But such products, now recognized by institutional investors remains unknown individuals.

Some believe however that SRI is primarily a marketing argument for management companies. What do you say? Of the managers who are interested in SRI, some are primarily interested in the potential of this market. But there are also many houses management that invest in dedicated teams, recruiting specialists extra-financial analysis, in addition to traditional financial analysts.For example, at Natixis AM, we recruited seven people who analyze only the environmental and social impact of companies and their governance, and this team will be strengthened in 2010 through new recrutements.De such dedicated teams bring their own assessment socially responsible companies, and not confined to incorporate the findings of CRAs extra financial times are updated every year or every two years. It is therefore essential for an asset manager to bring its own expertise in their management choices.Similarly, if a manager is satisfied with the credit ratings established by Moody's and Fitch to make its investment decisions, it is not serious.

How do you explain that Islamic finance is more media that SRI investments, while their positions are close? The investment managers in the Anglo-Saxon are designed as fund exclusion: companies whose products or practices do not respect the moral convictions upheld by the fund are excluded from the portfolio. It's the classic case of defense industries, tobacco, wines and spirits, not to mention companies in pornography and games. The philosophy of these funds is very close to the ethical funds, such funds islamiques.Mais there are other types of SRI investments, including those who advocate an approach of "best student", which are most prevalent in France by example.In these funds, the managers invest in every sector of companies that provide the greatest effort in limiting the impact of their activities on the environment, which seek to make social policy and governance. The general public just yet understand the logic of such funds, which are to encourage good practices, but whose message is not very clear. This probably explains why these funds are less known and less publicized so that thematic funds on the environment or renewable energy, for example.

How do you expect demand investment managers? The demand will undoubtedly increase in coming years.Starting next January, the regulations require each such company to include at least a savings fund solidarity among all funds offered under the company savings plan, it goes in the right direction to develop the SRI and solidarity among the general public. Finally, I am convinced that the share devoted to the institutional SRI, which represents between 5% and 10% today, could double or even triple within three years. Good students in social practices Respecting the environment does not suffice for a company is held responsible. It must also be transparent in its management, and be the guarantor of good social practice. Beginning with the rejection of child labor. But this social criterion also considers the role that the company gives to its employees, through such consultations.Among the good performers in terms of social practices, Natixis currently distinguishes Boiron, Orpea, Sanofi-Aventis, Essilor, Technip, Sodexo, Randstad, Ansaldo, EDF Energy and new GDF Suez.

The Committee Juppe-Rocard "on the strategic investment priorities and the national debt" has completed its work on Wednesday. His report will be presented November 19 at the president will announce in early December that the action he intends to give. Of the 22 committee members all signed the document, except one who required a period of reflection.

The total investment proposals contained in the report turn, according to our information, around 35 to 36 billion euros. "Some final calculations must still be done," says one familiar with the matter. This does not mean that France actually borrow such a sum. 13 billion euros will come from such recycling loan funds last year to banks that they are poised to fully repay the State.Similarly, on some specific projects (Digital Innovation), private companies will be asked to intervene to assist the public.

Overall, the report Juppe-Rocard justifies the need for investment in expenditure for the future, because "it has not been done for decades," while stressing the situation particularly tense of French public finances which prevent to borrow beyond a certain threshold. "There is no question of breaking the signing of the France versus Germany," insisted Wednesday Alain Jupp? on Radio Classique.

Specialized Agencies

If the mission did not address the question of how borrowing (or specific markets) however she insists on the need to control the use of these funds.And suggested including the creation of a very limited number of specialized agencies in the monitoring of specific programs, such as for investments in renewable energy or digital.

Similarly, with regard to investment areas, the commission did not go into details of specific projects. She preferred to reason according to logic of major programs to launch, with the guiding research and innovation. Higher education will be especially cherished. The mission recommends including giving the large educational institutions (universities and colleges) of equity. This particular to enable them to build bridges with business by creating centers of excellence comprising laboratories, innovative SMEs and teaching areas.

The mission is also in favor of an ambitious program for the transport of the future.In particular, the cities will be encouraged to develop transport infrastructure with low energy consumption. This will be the basis of the future city in which the report devotes part. Finally, any program will involve the "life sciences (biotechnology), to launch major medical projects. A subject which is particularly Nicolas Sarkozy.

For the first time since 2008, global demand is on track to resume growth in the fourth quarter of 2009. This is the conclusion of the monthly report released Thursday by the International Atomic Energy Agency (IEA). The Paris-based organization has raised its estimate for world demand this year to 84.8 million barrels per day (bpd), down 1.7% on a year while she was counting on hitherto a contraction of 1.9%. This upward revision is due to increased demand in the fourth quarter of this year. Subsequently, demand should rise to 86.2 mbd in 2010, an increase of 1.6% over one year, thanks to strength in emerging markets.

The agency, which represents the interests of consumer countries concerned, however, this increase in demand which would add additional pressure to oil prices, which currently evolve around $ 80, after falling below 35 dollars at the end 2008 at the height of the crisis. "The rebound in global oil demand could be much more limited if the price increases continued in 2010," says the Agency. According to her, too sharp rise in prices of black gold could slow the rebound of the economy that is currently taking place in most Western economies, including the United States, the largest consumer of oil in the world.

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"The IEA is concerned about the lack of investment in energy