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"The nuclear renaissance is confirmed", says Anne Lauvergeon, president of Areva, commenting on his group's interim results, and highlighting a turnover up 6.4% to 4.16 billion euros and a backlog increased 2.7% to 44.1 billion euros.

The group also reported a net profit of 843 million euros between January and June 2010. But excluding the gain realized from the sale of its subsidiary Alstom Transmission & Distribution and Schneider, who has reported EUR 1.3 billion to Areva, the accounts are in the red.Last year, during the first half, earnings reached 161 million euros.

Operating profit, excluding capital gains, it is clearly in the red at -485 000 000 euros, cons -170 000 000 euros in the first half of 2009.

Impairments chain

The world's largest producer of uranium indicates that it found "a depreciation of 300 million euros on some of its mining assets, because new data looking at futures prices of uranium.

There is also a provision of 400 million euros in late June increased to cover additional costs due to further delays, construction of the EPR at Olkiluoto in Finland.

It was the eighth consecutive allowance increased by Areva on this site.In total, Areva has recorded 2.6 billion euros of provisions for OL3 after the 367 million recorded in the first half cash advance loan. This third generation reactor will cost a total of 5.7 billion euros, while the original price was 3 billion euros.

The site has actually taken four years behind its original schedule, due to a series of technical difficulties. Scheduled to start in April 2009, the EPR should not enter service until late 2012 or early 2013.

An agreement with EDF

This publication comes as the Elysée has just demanded that the builder of reactors and EDF sign a strategic partnership agreement covering all areas of their mutual interest in nuclear energy.

The possibility of the rise in the capital of EDF in Areva will be examined in the context of this agreement.Areva also has proceed before the end of 2010 a capital increase of up to 15% to finance the necessary investments for its development.

Net debt stood at Areva 5.152 billion euros at end June 2010 against 6.193 billion at end 2009, for equity of 8.7 billion.

As part of its financing plan, Areva has also planned to divest its holdings from 25.6% in Eramet and 10.9% in STMicroelectronics, which must remain under public ownership.

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Suit and tie, dark glasses, briefcase and severe look. The "Men in Black", as are known as experts from the International Monetary Fund and the European institutions are back in Athens for two weeks. Their mission: to scrutinize the country's overburdened public accounts and the first assessment of the official plan of 110 billion euros for Greece in early May. If they judge that the government of George Papandreou meets its commitments, a second payment of 9 billion euros, will be completed in September.

The Greek Finance Minister George Papaconstantinou, is not afraid of men in black. "The second tranche of the plan will be paid if we have achieved the targets" by the international community, he said this weekend in an interview to a Greek newspaper. "These conditions were replies and we've even gone ahead with the vote of the pension reform.Greece adopted in June a postponement of the age of retirement at age 65.

"Progress"

The International Monetary Fund had also considered a report published in mid-July, the Greek authorities' making strides to redress public finances. " Athens was required to reduce the deficit by 39% in the first half. He did much better than that, reducing it by 46%.

"They were the hardest, reducing public spending more severely than expected," Judge Jean-Francois Robin, rate and currency strategist at Natixis AM. "In terms of fiscal consolidation, they are on track to be the best European students in the class and should succeed in reducing their deficit to about 9%." Good student in 2009, Ireland is in contrast to the penalty this year and could be weighted with a deficit of 12% in late 2010.

Uncertainties on Revenue

In Greece, if the goal seems far exceeded expenditure side, the revenue side "is more uncertain because revenues depend heavily on economic growth and tax base," Philip Sabuco shade, an economist at BNP Paribas., Philip Sabuco shade, economist at BNP Paribas. The government has managed to find only 7% of additional revenue to date, well below the target of 13, 7%.

Greece will not be judged solely on controlling the budget deficit. The IMF will look very closely the progress of privatization of public enterprises, the state (disastrous) finance social security, the release of occupations "protected" (trucker, notaries, architects, etc..). Records of which Athens is late.

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Place the masons and painters! Members of the Committee on Social Affairs of the National Assembly completed late Thursday afternoon, discussing the draft law on pensions, with a few hours ahead of schedule. Members will now leave the Palais Bourbon completely delivered to artisans, who have already begun the usual summer work. Return scheduled Tuesday, Sept. 7, even on Monday night at 6 for a special session will begin by examining the same text, but this time in the Chamber.

"It is in times of transition, summarized perhaps one at the Elysee. The real battle will take place from September. "The for Sarkozy are well aware that this first parliamentary stage was a formality. Not surprisingly, the debates have been looped smoothly."The Socialists have just wanted to make a coup by breaking the lock-in twitter discussions with their phone," is a counselor. What the left willingly admits. For now, she preferred surf the weakening of Labour Minister Caught in the case Bettencourt. Godsend for the Socialists, who are careful not to request his resignation.

Paradoxically, the majority seemed more worried by the progress of the case and its component Bettencourt Woerth that by the turn of the debate on pensions. "The left is going clubbing Woerth in September. He held up? "Wonders already a Minister. The Elysee hopes that the summer break will reduce the pressure. Nicolas Sarkozy and François Fillon reiterated that Eric Woerth defend indeed the text on Sept. 7. In other words, he will not be driven to resign by then."It is quiet because we know there is nothing in the record," says the Prime Minister.

"Everything will be decided in September. We are ready for battle. But it also depends on the mobilization in the streets, "says one seat in the PS. Clearly, the left hopes to build on part of the public. Even if the opponents and proponents of reform are divided into two shares more or less equal bad credit pay day loans.

Unions united

Unions, too, prepare to maturity. For September 7 will also be a new day of strikes and protests against the reform that SF has, once again, on Thursday asked the "withdrawal". In reality, most organizations do not believe and do not even dream to win concessions on key points, beginning with the postponement of the age to 62 years.However, they have not conceded the changes on other aspects of the text during the parliamentary debate.

They rely for that on the "pressure" of the street. Will they go over the two million demonstrators, after 1.9 million announced on the evening of the last day of action – successful – last June 24? Not easy to mobilize massively, just days after school starts. Therefore, the central plan to continue their campaign throughout the summer, beach tour in the CFDT distributed a booklet "educational" on reform and its "alternative" possible, the CGT.

The unions will have an advantage: their unity restored. Having refused to sign for months, FOR has joined its competitors, and the CFE-CGC has done the same.It is the only organization to accept the decline of legal age, but she believes that the conditions there pose – including a strong financial closure of the reform – are not met.

Faced with this united front, the government has chosen to keep the ballast drop. He has done at this stage, no specific proposals on issues which he is willing to develop: difficulty, and long careers polypensionnés.

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The Chairman of the Board of Directors and former CEO of L'Oreal Lindsay Owen-Jones afflicts some 3.3 million euros per year pension, according to Capital magazine, which published its last issue in a ranking of "retreats Gold bosses.

At 64, Lindsey Owen-Jones – CEO from 1988 to 2006 – which last year received two million euros of annual salary as non-executive chairman of the world leader in cosmetics, "already has a pension of 3.3 million euros per year, "wrote Capital.

The magazine's ranking, which evaluated from annual reports of the pension groups already affected or hats come from bosses, ahead of Lindsay Owen-Jones CEO Franck Riboud of Danone, which should reach 1.8 in the future million euros in annual rent, and that Axa's Henri de Castries, the pension provided, when he was 55, is 1.1 million euros annually.

Behind them are the CEO of reinsurer Scor Denis Kessler (800,000 euros per year), former president of Sanofi-Aventis Jean-Francois Dehecq (779,000 euros) and Henri Proglio, which besides a pension of 769.000 paid by Veolia Environnement, affects 1.6 million euros a year as CEO of EDF, said Capital.

"Under pressure from the public and shareholders, companies have significantly planed pensions hats they give to their leaders," the magazine notes, however, that assesses the average annual pension of "30 most spoiled" of them at 720,000 euros.

"The retirement of the CEO is generally calculated on the basis of its last three salaries (including bonuses), when ordinary workers must produce his best 25 years, also falls Capital, which said that the groups are saving for pouring the future pensions promised.

Texas Instruments (TI) makes a strong second quarter. The U.S. manufacturer of electronic components announced after the close of Wall Street on Monday, having tripled its profit in the period. It reached 769 million dollars against 260 million a year earlier to the same period, an increase of 196%. Per share, this equates to a net profit of 62 cents, in line with analysts' consensus.

Revenues climbed 42% year on year to 3.496 billion dollars and 9% versus the first quarter. "Our activities have included analog chip and reached a double digit growth compared to the previous quarter, rising faster than the market average", says CEO Rich Templeton.

However, the announcement disappoints Wall Street. In exchange after exchange, securities fell by 5.64% to 24.11 dollars my credit score.Indeed, analysts projected a turnover of 3.52 billion. In a conference call, TI said that the turnover of the second quarter was affected by the decision of a major mobile client not to replenish stocks as much as expected.

For the rest, the group is optimistic. It expects a turnover of between 3.55 and 3.85 billion with earnings per share between 64 and 74 cents. It ranges over observers who rely on a turnover of 3.59 billion for earnings per share of 64 cents. "Orders were strong this quarter, the backlog has increased and we expect further growth of our revenues in the third quarter," he assured Rich Templeton.

D-Day for Marcello Convite the boss of the small company that wants tricolor Carmat conquer the world with its first total artificial heart biocompatible. This Tuesday, in fact, that the start-up takes its first steps on the Paris Stock Exchange, having packed the heart of investors. In difficult market conditions, the SME accompanied by Truffle Capital, its largest shareholder (30%) and EADS, has done better than expected, raising 14.5 million euros at a price of 18.50 euros per share enhancing from the outset the company 75 million. A great appreciation for its Director General who has taken brilliantly in the year, new to him, the financial road show.

This Italian 57 years, trained in computer technology and speaks five languages, has not missed any arguments to "sell" the young company and its innovative and promising.His prosthesis, implantable total artificial heart developed by Professor Carpentier of the Georges Pompidou Hospital, from 2013 should help save tens of thousands of cardiac patients. A challenge that fascinates Marcello Convite former IBM and Fiat, paid for thirty years in the life sciences. He held until last September to senior posts in the American International Edwards Lifesciences, who had just bought to Professor Carpentier's revolutionary concept of cardiac valves. For Dr. Philippe Pouletty, CEO of Truffle Capital, with the artificial heart (which will remain French …), Carmat has "all the ingredients to become a global technology company beautiful. "A great adventure of entrepreneurs, leading the veteran of the biotechnology industry has also brought public in April and companies Neovacs Deinove.

Carmat is, in fact, primarily a story of men.An R & D secrets first, initiated in EADS by Jean-Luc Lagardere and Professor Carpentier and developed for 15 years by a team of engineers led by former "Mr. International" of EADS, Jean-Claude Cadudal, president of Carmat.

Beside him, the engineer, former head of EADS big projects, and "very good teacher," Patrick Coulombier, also played a key role. It is today, with Marcello Convite DGA society. It was created in 2008 under the leadership of Philippe Pouletty because, after the release of préprototype, "he had to go to the next level." By convincing the engineers of the European giant switch in the start-up and live the adventure.

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The U.S. economy has begun to destroy jobs, after five months of net creation. In June, the number of job losses in the U.S. totaled 125,000 jobs including in the public, according to figures from the Labor Department. The figure was pulled down by the public sector, the end of the census causing the departure of 225,000 temporary workers hired for the occasion.

More importantly, the private sector alone has created 83,000 jobs. Is much better than the 33,000 net new jobs in the month of May However, analysts expected a figure close to 112,000. "We're going in the right direction but we do not go fast enough for many Americans. We are not moving fast enough for me either, "responded the president Barack Obama.

The increase in the number of private sector jobs due to "modest increases in various industries."The leisure industry in particular has created 28,000 jobs before the summer. Business services hired 21,000 people. Note, the industry continued to create jobs (9,000). The construction sector has meanwhile also destroys jobs (22 cash till payday.000), hit by a decline in new construction.

"Beyond these figures rather in line with expectations, the disappointment is the hours worked and wages," noted economists Exane-BNP Paribas. "Hours worked weekly find their level in April (34.1) and hourly wages shrink by 0.1% over the month." In bad omen for consumer spending.

On the other hand, the unemployment rate, calculated on a different basis, for its part fell 9.7% in May to 9.5% in JuneThe Labor Department said the decline by reducing the workforce and the growing number of discouraged workers who no longer work. "We still expect a gradual recovery in the labor market with unemployment rates remain high in 2010 before improving slightly in 2011," says Julian Thomas, an economist at Natixis.

"In general, the Labor Department report suggests weak growth, but not fallen into recession, say economists for their part of Societe Generale.

The one that Sunday was a "very very big niche tax" that deserved a helping hand plane finally spared. Baroin, Budget Minister returned to his whims and confirmed on Wednesday in an interview to Le Parisien / Today in France that the government would not reverse the reduced VAT rates for restaurants given a year ago.

"This measure is maintained" said the mayor of Troyes. "If it must be questioned, the debate will take place during the next presidential election," he added.

10 billion savings

It must be said that the budget minister no longer had much choice. Tuesday morning, his minister, Christine Lagarde, had hammered on RMC and BFM-TV that the reduction in tax loopholes would not affect the VAT at 5.5% of restaurant owners.Baroin will have to find other niches planing to recover 10 billion euros economy expected by 2013. The minister on Wednesday gave few tracks a bit fuzzy.

Besides the movement of the plane 10% on tax loopholes previously announced, it confirms the non-replacement of 100,000 civil service posts (3 billion savings), reduced operating costs (2000000000), the reduction of lifestyle State … Baroin explains that this is the second round of general revision of public policies.The first, launched in late 2007 as it would have to generate 7 billion euros.

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Welcoming their blitz-boom, leaders BMW, Mercedes and Audi display confident smiles. Driven by China's growth, the three automakers upscale German came out of the crisis in record time. A year ago, they still increased the pace of layoffs for part of thousands of their employees to cope with the collapse of global demand. In recent weeks, they continue to advance the pace of production to meet the boom in exports.

"Never before has such a situation had been improving at a rate cutting your breath so brutally," enthuses a member of the supervisory board of Daimler, maker of Mercedes, quoted by the daily Frankfurter Allgemeine Zeitung (FAZ).The very expensive "scrappage" introduced by the German federal state, which had boosted sales of Renault-Dacia in Germany, had not benefited the high-end manufacturers. But the system Kurzarbeit, unemployment part financed by the German state, allowed them to retain their skilled workforce and avoid the waves of layoffs. And come back even stronger.

Success of "Made in Germany"

The FAZ, which displays an unusual enthusiasm, believes that "German car manufacturers are experiencing a tale was unexpected." The factories are at full speed. "Mercedes has almost regained its level before the crisis," said a member of the supervisory board of Daimler.

The resumption of exports to the United States but especially in China explains this success.The models are the most luxurious locomotive production pay day loans. Thus, Mercedes increased its production of S-Class 41% in May, while BMW has experienced a surge in sales of 34% of its 7-series.

In factories in Sindelfingen and Bremen Untertürkheim, which produces luxury Mercedes models, the assembly lines now run on Saturday. Just as in Neckarsulm, where the A8 is constructed, the limousine flagship Audi. Several factories are planning to shorten from three to two weeks summer holidays. Daimler plans to hire 2,100 temporary workers to maintain production rates during the holidays. Daimler already employs 1,800 temporary workers. At BMW, they are 5000.The Bavarian company is seeking to recruit hundreds of graduates and plans to train some 1,000 additional workers.

Health insolent the German luxury car industry should result in a significant increase in stock price for the businesses concerned. More broadly, the entire German economy should benefit from the recovery in exports in 2010. The Federation of German Industries (BDI) expects "a growth of 8% of exports," for the current year. "The international demand for" Made in Germany "can pull Germany out of the crisis," said Werner Schnappauf, head of the BDI. The chemical and electrical industries are the sectors that benefit most from the recovery.Result: analysts predict a continuing decline in unemployment in Germany.

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It is an alliance that giant Credit Agricole is poised to build in the business of brokering, with China's Citic. Corroborating sources, the two groups, whose discussions began a year ago, will announce in the next few days their entry into exclusive negotiations.

Before yesterday, the Bloomberg spoke of the creation of a joint venture in Asia. The project is actually much broader. Cr?dit Agricole and Citic were preparing to share all of their brokerage activities, with the ambition to offer a comprehensive worldwide.For the Green Bank, this means that it will bring in the trash marriage the two flagships, CA Cheuvreux in Europe but also CLSA Asia inherited his nugget of the former Credit Lyonnais and the ex-Indosuez, which strike force in Asia is comprised of over 1 300 employees.

"An entry by the front door"

The negotiations will refine the assembly operation. It seems, however, have articulated a pattern in stages. Globally, the respective contributions show an economic weight of about 70% for Credit Agricole, 30% for its Chinese partner. In Asia alone, the ratio is 50-50.

In China, finally, market still very restrictive with regard to foreign players, the Green Bank would of course be a minority, but Citic would offer "an entry by the front door," said a source familiar with the matter.Both groups have the ambition to create a unique platform for implementation to the world. A strategy that sticks to the explosion of capital flows to and from the Asian region, particularly China. She also accompany the rise, very fast, of IPOs on the Asian markets for new local giants, but also of foreign cash advance payday loan. Western companies are increasingly likely to be tempted by either a dual listing-West Asia, either through public offerings in part of their activities in emerging markets.

In 2007, Citic had wanted to attempt the adventure of large-scale partnership in market activities.But the Chinese had backed the wrong horse by selecting Bear Stearns, number five on Wall Street, which was the first major victim of the financial crisis in March 2008. The company was swallowed by a weekend, for a pittance and under pressure from the Fed, JPMorgan.

By marrying his "brokerage" than CITIC, Cr?dit Agricole replicates the strategy already implemented in the field of asset management and derivatives: Green Bank has established two joint ventures with Societe Generale, Amund and Newedge . In both cases, there is access to the critical size. The problem applies to the brokerage, a business in which the challenge is to offset the costs of research teams and infrastructures, galloping amid technological revolution on the market.

Finally, the operation comes at a strategic refocusing of the Cr?dit Agricole group.The Green Bank in 2008 has imposed a severe weight loss at its investment banking subsidiary, which came early and suddenly in crisis. Now, CA IPC (Credit Agricole's Corporate and Investment Banking) is focused on three areas: structured finance, capital markets and brokerage. The planned offensive alliance with CITIC confirms this last job.