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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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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 quest for investors to be difficult for Tony Hayward, BP's boss. According to the special edition of the newsletter Middle East Economic Survey (MEES) to be published Monday, the emirate of Abu Dhabi would be reluctant to invest in the oil. The richest emirate in the federation of the UAE would not be accountable to the U.S. Department of Justice, which wants to want to be informed of any transfer of assets from BP. The Sovereign wealth fund Abu Dhabi Investment Authority (ADIA), became in 2007 the largest shareholder in Citigroup, is already in full court battle with the giant American banker whom he accused of fraud.

If the information is confirmed, it would be a setback for Tony Hayward, last Wednesday, went to Abu Dhabi, to convince the influential Crown Prince Sheikh Mohammad bin Zayed to buy 10% stake BP.

Abu Dhabi, however, may "want to take stakes in certain assets of BP in the region, but provided they have no problems with the U.S. Department of Justice," says MEES.

Leverage counterparts

In addition to the SWFs in the Middle East, BP tries to seduce her American counterparts. According to the Sunday Times this Sunday, the tanker is currently in exclusive negotiations with the U.S. Apache Corporation to sell up to $ 12 billion of assets, including its share in Prudhoe Bay, Alaska, the largest field North America. Apache, which is worth 29 billion dollars in stock, has already signed with BP repurchases in the past.But this operation would be of a different scale: Prudhoe Bay produces 390,000 barrels per day, or 15% of the production of the North Sea.

The partners in the field of BP, Exxon and Conoco Philips, will certainly have rights of first refusal on the part of BP. This dernierpourrait allow them to buy if they offer the same price Apache. The Sunday Times also understands that the U.S. government would have allowed Exxon to study a possible takeover of BP.

The Sunday Times added that BP would also soon sell its 60% interest in Pan American Energy, a producer in Argentina. The acquisition of this share worth $ 9 billion Chinese CNOOC and try the Argentinian Bridas. BP is also expected to sell various other assets, including its activities in Venezuela and Colombia, worth one billion dollars, as well as those in Vietnam, a similar value.

The government is continuing its investigation

All these operations are part of the constitution by BP to a reserve fund of 20 billion dollars (15.8 billion euros) pledged U.S. authorities to ensure the cleanup costs and damages associated with the tide black.

So he has launched an operation which is expected to completely contain the leak, BP is still feeling the pressure from U.S. authorities. The Justice Department has announced that Sunday, through the voice of Minister Eric Holder would continue to investigate the causes of the spill that pollutes the Gulf of Mexico from late April to determine whether to proceed with indictments.

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A little over five months after launching a takeover bid (OPA) on UTS, Total, through its Canadian subsidiary, Total E & P Canada has finally acquired the developer of oil sands in Canada, including its core asset, With the project mininier Hilles (Alberta). Total: 1.15 billion Canadian dollars, or 866 million euros. "The asset quality will enable us to consolidate and realign our portfolio of assets in Canada's oil sands," said Yves-Louis Darricarrère, president of Exploration & Production, said in a statement.

"The exploitation of tar sands – a mixture of sand and bitumen – is more expensive than crude oil but is very profitable when oil prices rise.This makes sense if you think that oil prices rise again, "said one analyst.

When Total launched its takeover bid for UTS, his spokesman said: "To acquire interest in UTS Fort Hills project fits with the strategy by enabling us to acquire at fair prices and a relatively strong position with attractive an oil sands project and a significant shareholder competent operational, "says Floren.

This asset will strengthen Total's existing portfolio in the region that includes the Joslyn Project and Northern Lights located near the Fort Hills project and which Total holds 74% and 60%.

Analysts at Morgan Stanley, this approach shows that Total is interested in trading in relatively small segment of the oil sands rather than the purchase of large groups, even if the rumor has expressed interest in the Canadian Nexen whose capitalization approach eight billion dollars.

Through this transaction, shareholders will receive 3.08 SWU Canadian dollars per share and a stake in the merged entity to exploration and development after the acquisition, SilverBirch Energy Corp., said in a statement UTS. "This transaction allows shareholders to realize immediate UTS bonus cash on the current course of action while participating in the SWU significant growth potential of SilverBirch," said John Watson, president of UTS.

At the Paris Bourse, Total shares lost 1.76% to 35.99 euros in a market that declined by 1.62%, to 12 hours.

In ten years the state has lost 100 billion euros in revenue. This figure results from the calculations of shock UMP Gilles Carrez, general rapporteur of the Budget, published by Les Echos. What set the scene while the deputies are to discuss Tuesday guidance of public finances, which will set priorities for the years 2011-2013. The challenge: reducing the government deficit of 7.5% in 2009 to 6% in 2011 and to 3% in 2013 to meet EU rules. And convince investors of the seriousness of France.

Since 2000, said Gilles Carrez, 70 billion euros of tax cuts have been granted by the governments of left and right. At the same time, 40 billion of revenue were donated to the Social Security and local authorities. The whole, "without these have been offset by lower expenses!" Gilles Carrez surprised in an interview with Les Echos.

The largesse of governments are particularly focused on tax cuts on income and on the proliferation of tax shelters. Then, down one point from VAT in 2000 has caused an erosion of 40% of revenues.

To redress the balance, the member calls for "an effort on tax revenues and social order of 15 billion euros is needed to demonstrate our commitment to reducing deficits and debt". The markets and rating agencies watch the France at the turn. If they judge announced that the effort is insufficient, the state will see its rating deteriorated and must borrow at higher interest rates.

Effort "just"

Still, the effort "must be fair," Eaton Gilles Carrez. Therefore, "the movement of the plane" tax "should apply to the broadest possible base."Income tax, corporation tax, solidarity tax on wealth, and even VAT should be reviewed.

For example, the 5.5% VAT on food is expected to increase to 12%, defends the member. A measure already excluded by Bercy. On the other hand, Gilles Carrez believes that the biofuel "is developed enough to no longer need to be subsidized.

The trading hours of that Friday could mark a break after one week it is true though challenging for investors. Since Monday, the market has lost more than 5%. Of course, markets will pay close attention to monthly statistics showing employment in the United States which will be unveiled before the opening of Wall Street. But they seem they are already included in the indices, because Wednesday the investigation uncovered ADP than-expected figures for private use.

Thursday came another statistics support the poor with claims of unemployment rose 13,000 to $ 472,000 in the figures as at June 26, while economists on average expected a decline to 452,000 over the figure of 457,000 originally announced. This does not suggest the best for this afternoon.

The futures contracts reflected in the opening up of the order of 0.7 to 3362 points.

Note that the meeting in Paris will be exceptionally today around 41 values because of two new entities of Accor.

The trend has been better after the session on Wall Street to limit losses. At the close, the Dow Jones lost 0.42% to 9733 points, the Nasdaq was down 0.37% at 2101 points and the S & P 500 drops 0.32% to 1027 points. This morning in Asia, calm prevailed in the markets.

On the face values, we will therefore:

Bank stocks after doubts about the health of European banks. According to the Financial Times, a score of banks would be forced to raise funds after testing resistance.

Edenred (new name of Accor Services) made its market debut.The award technical reference of the title was set at 11.40 euros, a figure which is located in the lower range of 11-14 euro advanced Tuesday by the chairman of Accor at its general assembly and lower than its During Thursday on the gray market, which was around 12 euros depending on traders.

Accor: according to Les Echos, the group is also about to give the caterer railway wagons Beds French Newrest.Moreover, according to the newspaper, the proposed IPO of Lucien Barriere, another subsidiary of Accor, will be presented to analysts on July 7.

GDF Suez: Standard & Poor's said on Thursday lowered the outlook notes A/A1 group of "positive" to "stable", judging unlikely that the group achieves and maintains financial situation justifying an increase in his notes.

BNP Paribas and BPCE, the parent company of Natixis announced an alliance in consumer credit, which will require the development of a common platform operational from 1 January 2013.

Schneider said Thursday night it was in talks with the city of Ashgabat, Turkmenistan, on the renovation of the city's power grid. The Tribune reported Friday that the group has secured this contract, the newspaper figure at 1.3 billion dollars (1 billion euros).

Beneteau lowered from 17% to 15% of its target revenue growth for fiscal year 2009-2010 within the scope of delays in deliveries of vessels. The builder of sailboats and motorboats, however, confirmed its target of operating profit to 37.5 million for its fiscal year ending in late August.

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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Standard & Poor's finally penalized AREVA, judging the profitability of the group "depressed" for two years. The notes of French nuclear group, which was under surveillance by the rating agency since April 14 last, was finally degraded Monday by two notches to 'BBB +, cons A.

The first reason advanced by the agency for "the provision of 400 million euros related to the recently announced construction of the Olkiluoto 3 reactor in Finland. The further delay of the Finnish EPR, one of four currently under construction by Areva (with Flamanville in the Channel and two other Chinese), forcing the group to a new provision which would involve a negative operating result for the first half 2010. In total, the group has been provisioned 2.7 billion euros for this site should be completed in late 2012 with four years late.

S & P added that the profitability of Areva would also be affected by a "conflict" is contrasted with EDF about the Georges Besse enrichment plant, in the Drome. Both groups fail to reach an agreement to renew the contract which ensures the Areva uranium enrichment EDF.

The rating agency does have a stable outlook on the debt rating of Areva, convinced that the group should be able to implement successfully the remainder of the disposal plan and its plan to increase capital , strengthening its balance sheet.

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Jerome Kerviel has expressly acknowledged on Wednesday before the Paris Criminal Court, have committed crimes (embezzlement, forgery and uttering, hacking into a computer system) against him and makes it run five years in prison. While it seeks to introduce a nuance that relates to his defense – "the bank knew everything."Still, after a long and detailed questioning of the court, the president Dominique Pauthe and his two assessors, perfectly complementing the former trader at Société Générale could not dodge the onslaught of the Crown.

The prosecutor, Jean-Michel Aldebert, head of the financial section of the floor, asked him: "Have you created fictitious transactions to mask losses or gains?"

Jerome Kerviel: "Yes, Eliot [note: the computer system available to all].

-Have you provided false explanations to your hierarchy?

Non-credible explanation, yes.

Have you crafted fake e-mails?

Yes. "

But the magistrate, silhouette dry, sharp profile of a bird of prey, hushed tone, did not finish.He comes back three days during which, in early 2008, the montages of the trader-delusional about 50 billion euros pledged not covered market that will drive 4.9 billion of losses-have been uncovered: "During the week weekend of January 18 to 20, you do nothing to help the Societe Generale. Why?.

Jérôme Kerviel: "On Saturday the 19th, I was asked only about 1.9 billion that had won in 2007. I was impressed, intimidated, stressed by the officials that I had never seen …

-You sound like a person telling police custody on drugs! You had positions totaling 50 billion, why do not you say?

"It was not the topic this time bad credit payday advance. I answered the questions on the 1.4 billion point.

A few minutes earlier, the accused had replied on the same theme to questions, subtly, by Judge Virginia Tilmont. Especially this one: "Did you feel that challenge the system?"

Jerome Kerviel: "Absolutely not. In trading rooms is a little stash of national sport [note: some of its activities]. Everyone does, I perhaps more than others, but I tried to bring the most money in the bank. " A good little soldier, somehow, even if his methods were not always orthodox.

The boom is fully stretched to their consideration that Mr. Metzner. The lawyer for Mr. Kerviel comes out of his sleeve-mail dated Dec. 17, 2007, from the time his client has 1.4 billion euros and is preparing to invest 50 in the disastrous conditions that known.This email is signed by a certain Raymond Bunge supervisor Claire Dumas, who represents the SocGen this trial. It reads: "Good soldier must learn to disobey more out of the box".

Mr. Metzner Jerome Kerviel: "It reminds you what you asked?

The accused, not surprisingly, all smiles: "Yes."

So what if, as noted by Ms. Dumas, that assessment involved an employee of the department, which had no time to play with the funds lost money from his employer. What matters, after the wrong time spent by Jerome Kerviel, is having the last word. Jean Veil was understood that launches the formula fetish Mr. Metzner: "We agree. And for the first time, the bank puts the laugh on his side. In CHIP is a trick for the defense.

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The group Danone announced Friday the signing of an agreement for the acquisition of Medical Nutrition (NMI), an American company specializing in nutritional supplements for people under medical supervision.

The agreement provides that Danone will pay in cash approximately $ 62 million (51 million) to shareholders of MNI to acquire 100% of the group, Danone said in a statement.

The board of directors of American society has unanimously approved the merger, the CEO Frank A. Newman called "a tremendous opportunity for consumers, employees and shareholders of MNI.

Complementary products

The statement said the "strong complementarities" the two companies "in terms of product lines and distribution channels."Those would cater for the NMI especially the elderly, while those of Nutricia subsidiary of Danone, are primarily intended for infants.

NMI has recorded a turnover of 16 million dollars for the fiscal year ended January 31, 2010, multiplied by ten in seven years. Its activities will be integrated into medical nutrition division of Danone, which last year generated in North America 70 million dollars. Danone considers medical nutrition as "the most attractive category of food."