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EDF Energies Nouvelles has announced the results Wednesday that should let the markets perplexed. The EDF subsidiary, specializing in green energy, publishes indeed a group net profit down 7.7% to 38.6 million euros. Operating income rose 15.2% to 168.9 million euros, but remains well below the consensus was 186.58 million euros.

The group prefers to focus on sales amounting to 545 million euros, up 28.1%. A performance that the group owes its branch production, the most important, which recorded a sales growth of 30% to 219.4 million euros.

"Despite unfavorable wind conditions in the U.S. and very unfavorable to the United Kingdom, wind generation has benefited from full year impact of activations in 2009, notably in France and the United States, new facilities built in first half of 2010 in Europe and very good wind conditions in Portugal, "the company said payday advance. EDF EN has increased its wind power capacity of 156.1 megawatts (MW) gross in the first half and its capacity of 61.3 megawatts photovoltaic peak (MWp) gross.

For the future, EDF Energies Nouvelles has confirmed its forecast for EBITDA of between 430 and 450 million euros "and its goal of late 2012 installed capacity of 4200 MW net with 500 MWp of solar."

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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.

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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The market for nuclear reactors following "an upward trend," according to Mitsubishi Heavy Industries (MIH). The conglomerate of Japan believes that dozens of these reactors should be located in Europe by 2030. And he does not miss the boat. The group is announcing Wednesday the signing of a letter of intent with the Spanish group Iberdrola Ingenieria y Construccion. His goal: to increase its chances of winning several bids for the construction of nuclear power in Europe. "We hope thus to accelerate the introduction of our advanced pressurized water reactors EU-APWR in European countries," MHI said in a statement.

Specifically, the agreement provides that if a contract awarded, MIH supports the manufacturing facilities and the provision of essential equipment.For his part, Spanish will be responsible to install, the grouping of devices and materials that their test. The offer of MIH is based on a pressurized water reactor of 1,700 megawatts (MW), whose rights have been designed for the Japanese market, and adapted to European standards and regulations.

MIH is not his first partnership with a European group. The Japanese already collaborating with the French Areva in a joint venture called TDD, which is developing a medium-power reactor for countries wishing to launch their first nuclear power.

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After one child, the unique apartment? The Beijing city government announced on Friday of "tough measures" to curb rising property prices, reports the Xinhua news agency. Among these measures, families will no longer buy a new apartment. The municipal authorities also prohibit banks to grant mortgages to families buying their third and well beyond. The loans will be more accessible rather than "to persons not resident in Beijing who can not prove they have paid their taxes and social security contributions in the city for at least a year," the agency details Press.

Beijing is the first city of the Middle Kingdom to announce detailed measures to tackle speculation, China Daily notes.The cities of Shenzhen (Guangdong Province) and Shanghai would also work on a plan to regulate sales of homes in the wake of measures announced by the government since the beginning of the year.

Under the economic stimulus package introduced in late 2008, priority was given to the promotion of real estate lending. Result, prices in the industry have taken a very strong upward trend, especially in large cities, Natixis said in a note. So much so that some observers suggest the hypothesis of a housing bubble.

From our Washington correspondent

Goldman Sachs has managed to earn 3.7 billion dollars in betting, starting in 2007, the collapse of the mortgage-market. In doing so, the giant Wall Street acted against the interest of some of its customers, which it sold securities that he knew "toxic". This is the conclusion, after months of investigation, the Permanent Subcommittee on Investigations of the U.S. Senate.

Tuesday, during public hearings stretched on Capitol Hill, Lloyd Blankfein, the head of the giant Wall Street, has categorically denied these allegations."We do not speculate massively downward in the housing market and we certainly do not bet against our clients," he was forbidden under the spotlight, saying that even on the mortgage-market, Goldman Sachs has lost about $ 1.2 billion in 2007-2008.

"Nobody in the management of Goldman Sachs has never asked me to bet on a decline in the subprime market," added before skeptical senators, Joshua Birnbaum, the former head of structured products of the bank, also on the bench defendants.

Convinced otherwise, armed with emails and internal documents seized in the bank, the debonair Senator Carl Levin, glasses pavement at the end of his nose, led a determined assault Tuesday. But the chairman of the committee was confronted with a wall.He vainly tried to tell the past and present officials of Goldman Sachs called before him (including one French employee), how could they believe in the quality of debt issued by mortgage lenders whose reputation was terrible. Receivables classified as "business of shit" in an email exchange between two bank officials. "How many of these" affairs of shit "did you sell to your customers? asked, exasperated, Senator Levin fast cash advance. You've sold hundreds of millions. "

Bankers Daniel Sparks and Michael Swenson, impassive without being arrogant, but obviously confident of the merits of their point of view, seemed not to understand or what they asked or what they were charged.They also questioned the methods of calculating profits of Goldman Sachs selected by the committee.

Battle of Senate proceedings

According to Senator Levin, the investment bank has yet actually decided in late 2006 to a major cleanup of its accumulated risk on securities backed by the real estate markets whose collapse loomed. By discipline, to limit its risks and if possible in the hope of profiting from the trend, the bank had sold to investors and deliberately chosen for their credulity his titles too "toxic"."We have not been systematically and significantly" net short position "on derivatives of residential mortgages in 2007 and 2008," replied Lloyd Blankfein.

Meanwhile in the Senate floor, Democratic leaders and Republicans arguing over procedural votes before engaging in substantive debate on the reform of Wall Street. The Conservatives want by all means restrict the scope of Democrat Bill before it is submitted to a plenary debate in the room. A compromise is always likely, because both parties want to correct the excesses that precipitated the financial crisis.But the Republican minority wants to take his time, while Democrats want to take this case Goldman Sachs to prohibit such banks that have access to the discount window the Fed to speculate on their own account.

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The rumor is part of a report released on Tuesday, lending to Greek leaders intend to negotiate the terms of any financial assistance from the EU and the IMF. Despite an immediate denial from the authorities of countries, markets have overreacted to information. In the wrong direction. Yesterday, the debt rate in Greece has reached new heights. The rate of ten-year bond rose to 7.161% before closing at 6.995%. One to two years saw its rate jump to 6.48% before closing at 6.11%.

The differential between the Bund and the Greek loan ten years, the German borrowing considered the benchmark in the European bond market, reached 391 basis points, a highest since late January. A level also close to 396 points reached at the height of the crisis.In other words, Greece must now pay twice as much as Germany to borrow on the markets.

In this tense atmosphere, the euro sank to its lowest level since March 26, to $ 1.33 against $ 1.35 last week. The tension on the Greek rate has rubbed off on the rest of European rates. Thus, the obligation comparable Treasury (OAT) French grew at 3.472% against 3.391%. The rate of Gilt UK has also tended to 4.004% 3.917% Thursday cons. The 10-year German Bund rose to 3.145% 3.080% cons Thursday night.

"It was a very bad day for Greek bonds," said Greek Finance Minister George Papaconstantinou.The latter also wished to refute the rumors again: "There was never any action on our part to change the terms of the recent European agreement on the mechanism of support," he said cheap pay day loans .

A difficult month of May

This renewed tension on the market does not bode well for the country that has yet to find 20 billion euros by the end of May to repay debt is estimated at 300 billion euros, or 113% of GDP. Macroeconomic statistics are not reassuring either. According to the European Commission, the economy needs to contract by 2.5% against 2% initially estimated.The deficit also revised upward, to reach 13% of the GDP against 12.7% of the initial estimate used as the basis for projections of the annual budget.

Asian investors, including Chinese and Japanese funds, show little enthusiasm for the idea of buying Greek bonds. George Papaconstantinou, which announced its intention to borrow dollars, must travel to the United States after April 20 to find new potential buyers.

In this context, IMF teams have to land Wednesday at Athens, at the request of the Government, to advise the country. The IMF should include a focus on fiscal discipline and the fight against tax fraud.A visit also intended to reassure markets that are questioning the viability of the proposed plan by the Greek government.

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"SPECIAL CASE – Greece, a challenge for Europe

EU leaders, meeting Thursday and Friday in Brussels, bend at the head of Greece and the world is watching. Sign of the attention paid to the euro area this week, the U.S. central bank, the rating agency Fitch and the central bank were all in their own way, trying to put pressure on European capitals.

Most recently, the deputy governor of the central bank of China, Zhu Min, criticized hollow inaction of EU leaders in the Greek case. "I do not think that Greece will go to bankruptcy because it is relatively small," he said in Hong Kong Thursday morning. "But we see no decisive action that would send a signal to the market saying:" We can solve this crisis, we can stop it. " The market remains very volatile. "

And prevent the problem is not confined to Greece."Greece is a case, but this is only the tip of the iceberg," he said. "The main concern today is obviously Spain and Italy." One way to remind Heads of State and Government meeting at the European Council that it is time to extinguish the fire fast cash without a hassle . The rating agency Fitch has in turn worsened the note of Portugal on Wednesday, highlighting the structural weakness of the country.

The fear of a "great shock"

The United States also expressed concern earlier this week when European inaction. For the first time a director of the Fed, the U.S. central bank, has publicly worried about a contagion of the crisis in the Greek American economy.He said such fear at worst "a big shock in financial markets" could occur "as a general movement of withdrawal [investors] the debt market states. A particularly alarming prospect as the United States have more need than ever to issue debt.

"These statements sound like a call for decision making at European level" analysis Natacha Valla, chief economist at Goldman Sachs. Ultimately, "this crisis, caused by a small country like Greece, is amplified by a bad reason: the failure of European authorities to take a decision."

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"SPECIAL – Greece, a challenge for Europe

Markets dissect ads Fed on Tuesday. The latter said that economic conditions continue to ensure the maintenance of interest rates to extremely low "for a long time." The Fed maintains its policy rate in the range from 0 to 0.25%. The institution also believes that "the job market is now stabilizing.

Investors reacted without enthusiasm to these ads. Around 19h25, the Dow Jones climbed 0.32% to 10,676 points while the Nasdaq is 0.57% at 2376 points. The S & P 500 gained 0.61% to 1157 points.

In addition, import prices in the United States declined slightly more than expected in February by 0.3% from the previous month after rising 1.3% in January, according to the Labor Department.Analysts expected a decline somewhat less pronounced, 0.2%.

Housing starts and housing issuing of building permits in the United States also fell in February by 5.9% from the previous month, falling to 575,000 units annually. But with very bad weather that hit much of the country, analysts expected a sharper drop, to 570,000.

Good news in Europe

Reassuring news came from the rating agency Standard and Poor's.This continued Tuesday in the long term rating of BBB + from Greece and announced not to consider a decrease in the short term, but accompanied the confirmation of a negative outlook.

Moreover, in Brussels, the Finance Ministers of the European Union have "supported the evaluation by the European Commission to the budgetary situation of Greece", says European Commissioner for Economic Affairs, Olli Rehn.

The news has boosted European markets … and the euro. The European currency climbed from 0.64% to 1.3760 dollar.

The bank in the viewfinder

In all cases, caution is needed, particularly for the banking sector the most significant announcements of monetary policy committee of the Federal Reserve easy payday loans .Especially as yesterday, Democratic Senator Chris Dodd has introduced a text aimed at reforming American finance which seeks consensus. But he does not yet collect no Republican support. JP Morgan Chase (-0.20%), Goldman Sachs (0.66%) or Bank of America (0.71%) react in an uncoordinated manner.

On the side of values, PepsiCo (-0.14% to 66.06 dollars) announced after the close of Wall Street yesterday, up 7% of its dividend and authorized a new share repurchase 15 billion dollars before June 2013. This new program replaces the $ 6.4 billion, which expires next June.

Similarly, Limited Brands (Victoria's Secret, Abercrombie & Fich …) has announced a special dividend of $ 1 and approved a share repurchase of 200 million dollars.Securities climbed 4.43% to 24.77 dollars.

Also in the luxury sector, the parent company of Calvin Klein, the Philips-Van Heusen (1.64% to 53.30 dollars) announced yesterday the acquisition of the brand casual wear Tommy Hilfiger fund of British investment Apax Partners.

Google (0.53% to 566.16 dollars) could close its search engine or a part of its activities in China. The U.S. group would be safe "99.9%" to abandon its Chinese search engine, reported the Financial Times and the Wall Street Journal this weekend.

The results of FedEx (+0.21%) for the third quarter are expected Thursday. The numbers of specialist couriers are expected.They usually figure advanced barometer of business activity.

The record company Sony (-0.32% to 37.49 dollars) has signed a contract worth 250 million dollars to the heirs of Michael Jackson until 2017 to distribute new and derivatives of the "King of pop, died last June, the Wall Street Journal, citing sources familiar with the matter.

Le Figaro. – Northrop and EADS waive answer the call for bids for the tanker to the U.S. military …

WELSH Louis. – We are not going as this tender is clearly in favor of the Boeing B767. The specifications are intended for a smaller aircraft than the Airbus A 330 without taking into account the superior capabilities of the latter. I regret, because we have the best aircraft, which has won every competition in the world, including Britain and Australia, against Boeing. It was useless to file an appeal. I'm not sure the American taxpayer will be a bargain for the U.S. military, it has a plane less modern, less capable than Great Britain, Australia, Saudi Arabia or United Arab Emirates.

You build a factory in Alabama?

The site of Mobile in Alabama would assemble the tankers.Therefore, this assembly project in the southern United States is no longer valid. This decision does not affect our overall interest to the U.S. market. We have to develop.

In what trades do you develop in the United States?

For now, we look rather acquisitions of medium size, including the United States, but not exclusively. As for trades beyond the defense, we bear a special interest in services and security. But everything is a matter of expediency.

The euro-dollar is she always so critical?

Of course! And the euro at 1.35 dollar remains strong. I remember I started Power 8 in 2007 to address just one dollar to 1.35. This is not because we went from 1.50 to 1.35 as the dollar problem is solved! EADS had 9.8 billion euros at end December 2009.

What will you do with that war chest?

The Net Cash position is considerable, but we will in the next four years, reaching a peak of investment on the A 350. We must maintain a sufficient level. It is essential to maintain the trust of our customers, who pay installments four to five years before delivery of their machines. The cash position is also an important component of our rating. It is therefore a priority for us to protect it. Airbus beats records of shipments, but profitability is average.

The economic crisis is still there.Are you planning to launch a new savings plan?

In 2009, our accounts are strongly marked by the provisions on the A 380 and above on the A 400M (1.8 billion euros) and by currency effects, whose overall impact is negative in 2009 2.5 billion euros compared to 2008! Apart from these "special items" Our operational performance is satisfactory. End of 2009, we completed a year ahead of the expected savings under Power 8, or 2.1 billion euros. Power 8 + begins now and will run until 2012. To date, I have no plans identified new savings plan, but I do not want to tie my hands and we must be able to react to changes in our environment.

How do you see 2010?

I remain cautious, but we now have better visibility and greater confidence in the robustness of our backlog.We send a strong signal by deciding to increase the production rate of A 320. They spend 34 to 36 per month from the end of 2010.

In which areas should Europe launch major projects?

We need a common vision that inspired the creation of Airbus and Ariane. Europe can raise it again this ambition? I am sure nothing better mobilize European public opinion that such programs, which embody the best that Europe all treaties and speeches. The subjects are not lacking. Of course, aerospace, defense and space: EADS was created to be the partner of such programs, but also in major projects in energy and environment. European countries face similar challenges.Why did they not meet together? It would be good for European industry.

How do you plan to revive the industry Nicolas Sarkozy?

I am grateful to the president to deliver the industry on the front of the stage. There is no strong, stable, independent, not industry, and the loss of industrial substance of our country is a major concern. I also agree with the diagnosis of the president on the loss of substance. It reached France more than Germany or Italy, but it actually concerns all of Europe. This calls for a clear industrial policy and European French. It is to reassess all policies: education, taxation and social security, hours of work on life skills, competition, money, support research and innovation, etc.. With the objective of strengthening the competitiveness industry.Such a policy must be based on a social dynamic for everyone to be involved.

Some of the decisions announced by the head of state will they have an impact on EADS and Airbus?

Here are two examples where the impact is direct. The first concerns the priority given to sectors and relations outsourcers / contractors: it is a major issue for us, which we are already working with our supplier. EADS buys each year for more than 10 billion euros in France. We signed a few weeks ago the charter of the subcontract. Second example: the national loan will support the technological developments needed for future generations of aircraft, helicopters or space launch.

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