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Thunder on Corsica. The Administrative Court of Appeal overturned Monday in Marseilles the public service delegation (PSD) of maritime transport between the island and the mainland, a delegation intended to ensure territorial continuity and with a coquettish grant.

Upon assignment to the SNCM and CMN service contract for the period 2007-2013, Corsica Ferries had attacked him. Peter Mattei, the director general of the company, so savor his victory: "It shows that we were in our right and that has suffered!"

The leader has always considered abnormal grant of 33 million euros allocated by the Transportation Agency Corsican (OTC) for the SNCM ferry for peak periods, in addition to the 66 million allocated for the basic service (cargo passengers and freight throughout the year) to SNCM and CMN.The Court found that there was violation of the European regulation on maritime cabotage.

The "safeguard clause" included in the delegation contract is also in the sights of the Court. This clause makes it possible for companies to benefit from a delegated additional grant anticipated revenue when the contract is not to go. This supplement is considered state aid and tens of millions of euros may have to be repaid.

"An overhaul of the system"

A new bid must be launched for a new contract operational on 1 September 2012. "It will be very difficult to meet this deadline," Paul said yesterday Mary Bartoli, president of the CTA.

The fall was accelerated by Dexia irregularities. A document written by the supervisory authority in 2010 reported several violations of the Franco-Belgian bank, reported Liberation.

The body responsible for regulating the banking sector would have directly challenged the previous management but also the leaders still in office. The report was quoted as saying, "number of findings concerning mechanisms for managing derivative positions are likely to contravene the regulations." Regulators cite "in 2007 and until 2008, the disclosure of Dexia Credit Local has remained evasive about the increasing risks, including the CEO and directors were aware. She ignored the violations of regulations and monitoring liquidity risk. "And the report says "the information to the public was not accurate, precise and sincere."

These omissions or falsehoods for the purchase of a portfolio of bonds and speculative securities amounting to 100 billion euros, an "illogical financing local government, the report quoted by Liberation payday advance lenders. Regulators also suggest a failure on the part of the Dexia value of this portfolio of assets, both at the time of purchase as to resale. Worse, the leadership in place deliberately magnified the value of assets. The "overvaluation is estimated at at least 2 billion euros." Auditors such as Deloitte and Mazars have closed their eyes, the report said.

Loans to shareholders to purchase securities

The management team in place is also not spared.In a letter dated September 4, 2009, the report stresses that "the director of the institution has provided an underestimation of the volume of transactions."

Meanwhile, the Financial Timesaffirme that Dexia has paid 1.5 billion euros in its first two institutional shareholders before 2008 so that they carry out acquisitions of securities of the Franco-Belgian bank. But Dexia would, at the time, not breaking the law then in effect. The question is whether the court will examine the case Dexia.

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Three weeks after the government's announcement to freeze gas prices for individuals on or after October 1, GDF Suez took, as the company announced at the time, the competent courts in protest against the decision. The group on Thursday filed an action for the Council of State to request the cancellation of an order made by the government.

The investigation of this type of case takes on average between 12 and 18 months. But the length of the procedure does not scare GDF Suez, which the argument is simple: the law requires that the procurement costs of the company are covered by fees, and grant a small margin. Upon arrival, if the formula price was applied on October 1, gas prices for individuals would have had to climb 10%.GDF Suez's estimated shortfall by the end of the year to some 290 million euros cash advance no fax.

For its part, the Commission for Energy Regulation (CRE), the industry policeman, issued an opinion unfavorable to the Government Order. Meanwhile, the regulator gave the Minister of Industry, a report on the Exploring the evolution rate of increase gas prices. One of the measures mentioned by the CRE is to increase – in the development of the formula – the share of the market price of gas now cheaper for the consumer and supply contracts in the long run.

This design technique should allow to reconcile the evolution of gas prices with the political imperative to avoid any increase, especially brutal.

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The president Nicolas Sarkozy is scheduled to visit tomorrow, Tuesday in the Creuse to meet the farmers. The daily Les Echos, they confirm that occasion a very expected: a decrease in payroll of approximately one euro per hour at the minimum wage. This reduction would occur in 2012 and aims to improve the competitiveness of industries that use lots of labor, such as fruit and vegetables. This announcement, however, could be accompanied by a far less popular.

The boost will cost the charges because the state just over 200 million euros. Effort that the government wants to compensate for not widening the deficit. As announced in Le Figaro, the doubling of the tax on sugary drinks should help.The state estimates that from a euro cent to two cents per can, he should recover over 120 million euros. And the remainder, Bercy wishes to the agricultural sector contribution.

Movement of the plane 10%

To do this, the Ministry of Finance, armed with his plane, went through the 40 tax loopholes enjoyed by farmers. Two possibilities were considered. According to Les Echos, the reduction of capital investment (DPI) would be a first option. In its report on tax loopholes, the General Inspectorate of Finance (IGF) emphasized that the device "does not respond only partially to its original purpose to help finance investment." It allows however to 110,000 farmers to reduce their taxes, and farmers are very attached.The government should turn to another niche: the tax benefit for the use of heating oil as fuel. The fuel is taxed at 5.66 euros per hectolitre, against 42.84 euros for diesel, and that niche cost one billion euros per year. So the government is considering a movement of the plane by 10%.

The construction further penalized

To justify this possible movement of the plane, the General Inspectorate of Finance argued that this advantage is at odds with environmental goals, even if it contributes to competitiveness. She also points out that the niche overlap with the tax rebate on energy products, another niche that costs 150 million to the state.

The decision could, however upsetting beyond the agricultural sector. More than the farmers, are in fact the public works professionals who take advantage of this niche.They pick up about 550 million of tax benefits, against only 450 million (300 euros per vehicle) for farmers.

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"GAME NEWS –

In the wake of the rebound in U.S. indices, the benchmark index in Paris was up 2.16% to 3154.20 points on Monday night at closing. Enough to clear the heavy losses the last two sessions, and even the redépasser 3150 points.

The Frankfurt Stock Exchange also closed up sharply Monday after meeting exceeded the 3%: the DAX index of thirty blue chips gained 2.39% to 5670.07 points, also carried by the speech of Friday Federal Reserve Chairman Ben Bernanke, who was reassuring on growth.

Friday, after a negative early trading, Wall Street has indeed ended the session on gains of 1.2% for the Dow and the Nasdaq 2.5%, investors focusing on positive ads during the next meeting Federal Reserve in September, Ben Bernanke hinted at the conference of Jackson Hole.The anticipation of a further intervention by the Fed puts the dollar under pressure against a basket of currencies: the dollar is trading at 1.4507 dollar per euro to 17 hours. On Monday, the U.S. indices still show green, reinforced by the recovery in consumption of U.S. households in July.

And always in the context of the general economic meeting in Jackson Hole's new Executive Director of the IMF, Christine Lagarde, has urged this weekend to recapitalize banks. She said that the European institutions "need of urgent recapitalization." The former Minister of Economy and Finance believes that these measures are the "key to cut the chain of contagion." So new fears for the banking industry, already largely weakened during the summer.

Pending on the details of the background of aid to Greece In Greece, aid modalities are not yet fastened.Negotiations were slowed by the requirements of Finland and the new challenges of Athens, whose stock rebounded strongly on Monday, however, and accounted for up to 9% increase on mid-term, on the bottom of the side of mergers expected Greek banks, in the early afternoon.

In addition, investors seemed to adhere to about Laurence Parisot. And referring to the financial crisis, the president of the employers' association (MEDEF) estimates for its part, that "if Europe were attacked, not because it is weak but because it is strong, and if it is envied, because it is enviable, "In an interview with Le Figaro, the boss of the bosses denounced a U.S. plot against the euro area.

Irene reduced cost

Other news of the weekend: the passage of Hurricane Irene passed through New York without drama. He also was demoted to a tropical depression.U.S. markets should open smoothly and Monday. Hurricane Irene would have between 500 million and one billion dollars in damage in the Caribbean and the United States, according to catastrophe modeling firm EQECAT. A figure below the most pessimistic forecasts considered before the hurricane.

The price of Brent was down, refineries and oil terminals on the East Coast of the United States seem not to have suffered major damage, easing fears of a supply disruption. In addition, Libya resumes oil exports within a month, according to the spokesman of the Arabian Gulf Oil Company (Agoco), controlled by the rebels. Crude oil production will resume in mid-September on two deposits in the country.A barrel of "light sweet crude" for delivery in October takes the field, to 85.46 dollars per barrel of Brent North Sea crude for October delivery stabilizes at 110 make quick cash.8 dollars.

Among the statistics expected Monday in Wall Street, the surprise came from consumer spending. The Americans have in fact spent more than expected in July. Up 0.8% on month, consumer spending across the Atlantic more than 0.3 percentage points the level expected by analysts. The promise of home sales have, they, down 1.3% in July compared to June, as the market expected, according to figures released by the National Association of Realtors. They increased by 2.4% in JuneOver one year are up 14.4%.

The bank bounce despite the warning Lagarde

As for values, on the eve of the biannual publication of trucks from the coast (Bo uygues, Carrefour, L'Oreal, Vinci …) at the end, only two cuts were regrettable among the 40 largest capitalization on Paris: the Danone (-0.35% to 45.57 euros) and Essilor (-0.68% to 52.61 euros).

In addition, about Christine Lagarde did not prevent banking stocks to rebound.A technical rebound is sustainable, while the sector was the most attacked in recent weeks: Société Générale (3.61% to 22.10%), Natixis (3.72% to 2.78 euros) Crédit Agricole (3.37% to 6.63 euros) and Axa (2.30% to 10.47 euros) and BNP Paribas up the rear with a more moderate increase (2.49 % to 34.39 euros).

In addition, Ingenico (2.49% to 27.55 euros) announced that it had repurchased TNET, an Italian company specializing in payment terminals, for an amount that was not disclosed. According to Ingenico, TNET manages an installed base of 45,000 terminals in Italy.

APRR (0.13% to 52.32 euros) will observe the re-opening until September 9 of the OPR launched by Eiffage (2.22% to 31.36 euros) and Macquarie.The toll road was also noted Friday that the evolution of traffic early in the second half was mixed for light vehicles, but remained well oriented for heavy vehicles.

Capgemini (3.96% to 27.95 euros) announced it has signed a five-year contract with the company's payment service EnterCard Scandinavian. The group of consulting and information services will pocket 30 million euros as part of this agreement.

In addition, ING has lowered its board to maintain, against purchase, the title Arkema (1.39% to 50.62 euros) and reduced its price target on the value to 55 euros (as against 85 euros).

Channel (1.29% to 4.406 euros) could push his plans for the IPO. While the ACC has lost nearly 20% of its value during the summer, analysts are skeptical of an imminent public offerings of media group, reports Les Echos.The listing of the 20% held by Lagardère has already been de-programmed, it could eventually sell its stake in Vivendi, the majority shareholder.

For its part Orange (France Telecom 2.08%, to 13.01 euros) would be in conflict with the American Cogent. The U.S. operator has, according to La Tribune, filed a complaint against his French counterpart to the competition authority for "abuse of dominant position." Orange is accused of preventing users from accessing the site MegaUpload. The conflict dates back to January so that Orange had decided to grant the account drop traffic from Cogent.

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After controversy and mediocre at best a few misunderstandings, we must acknowledge the political change in the euro area conducted this summer under the leadership of Nicolas Sarkozy and Chancellor Angela Merkel. Once again, it faces its most serious problems that Europe is taking its greatest progress.

After the 2008 financial crisis, Europe has faced since last year in a sovereign debt crisis that is partly rooted in the first. Some countries have seen their debt rise significantly because of the money committed to bail out large parts of their financial sector they have decided to nationalize. This is not the case of France, who withdrew 2.7 billion euros of its plan to support the banking sector. The impact of financial crisis on the real economy have also weighed on state budgets.The current difficulties are also punished too complacent management of public finances, with the vote for decades of budget deficit and rising debt.

This crisis is not unique to the euro zone, whose levels of debt and deficit, relative to the size of its economy, are lower than those of the United States or Japan. But markets have begun to test its strength and cohesion. Appropriate responses are partly national.

Spain and Italy have in recent weeks strong measures. Without being affected by financial stress comparable to other countries have taken appropriate action.

From 2007, France decided to apply the rule of non-replacement of an official two. A path of public finances has been defined, which provides for the return to a deficit of 3% in 2013 and is intangible.For the first time in 2010, spending on Medicare have remained within the limits set earlier this year. Pension reform has also strengthened our financial statements in the long term.

Nobody has the right to lie to the French on the efforts that we must make.No one can return to these measures to ensure financial and social sovereignty.

Appropriate responses are also European.

A fierce solidarity between Member States of the euro zone must win against the selfish temptations or protectionist.

With the creation of the European financial stability, the effective capacity of intervention was increased to 440 billion euros, then the decision July 21 to expand its missions in a preventive role, the Heads of State and Government of the euro area set up in a few months a true European Monetary Fund. It demonstrated its flexibility and means that interventions are tailored to the leads.

Some advocate the creation of European bonds, the "Eurobonds", they present as a panacea.But they forget to say that this would increase the cost of the French debt and could even jeopardize its credit rating. Above all, they pretend to believe that this solution may be considered now as an immediate response to market disturbances.

How to accept today the pooling of public debt through Eurobonds, while the decision to spend public money is taken in each Member State? How to separate the financial responsibility for the management decision?

It is clear that in practice eurobonds can be achieved without considerable strengthening of fiscal discipline and economic governance within the euro area. This means they pass through an integration which there is currently no political consensus.In this regard, I find it ironic that some criticize the initiatives through which we move, but called for the establishment of eurobonds.

The adoption by the Member States of the euro area of ​​a balanced budget rule with constitutional and binding on the annual budget, as proposed by the President of the Republic and the German Chancellor to their counterparts, will s ensure that everyone present as soon as possible accounts tending toward equilibrium. This will give the length of sanitation in the country finance in the euro zone credibility that will restore confidence and to discourage speculation. It would be wrong not to adopt it for the future in all Member States of the euro area. France must, on this issue, set an example.It is in the national interest.

This collective discipline would be meaningless without a collective ambition for growth. The growth in Europe requires an investment in fixed intelligence and knowledge economy. With the tripling of the tax credit research and investment program for the future is the strategy adopted by France. It also requires a better orientation of the Cohesion Fund and European Structural Funds.

In addition, a new step is necessary in the economic integration of countries in the euro area. France defends years the creation of a European economic government. It is proposed that the President of the Republic and the German Chancellor.

Seventeen countries can make the choice to adopt a single currency without incurring a movement of reconciliation of their economies, their tax systems and their social models.France and Germany have always been the motors of European integration. This week with Nicolas Sarkozy and Angela Merkel, both countries have decided to take the next step, including the creation by 2013 of a common corporate tax. On the eve of 50th anniversary of the Elysée Treaty, by which General de Gaulle and Chancellor Adenauer to seal the reconciliation between our two countries, France and Germany show their will to strengthen their convergence and start a new governance European.

Given the magnitude of these challenges, I appeal to the unity and sense of responsibility of all political parties.

Constrained by its primary, the opposition seems to say no in advance, regardless of the question. Yet there is the Socialist Party of economists and officials informed sincere.Unfortunately, while the president and German Chancellor put all their credibility in the balance to defend our currency and that the policy we conduct ensures the maintenance of the rating in France earlier, the Socialist Party seems committed to the proliferation of government jobs and contracts helped, showing that it has not yet taken the measure of effort we need to do to keep our commitments to reduce the deficit and debt.

A message of national unity is still the best answer to the doubts of markets and investor concerns. Indeed, this message most of the major European political forces have chosen to focus.

Nobody asks the French Socialist leaders to renounce their beliefs or even their legitimate ambitions.Recognize the efforts of France and Germany out of the crisis, embark on a "golden rule" of common sense, it would show responsibility and a sense of national interest that would to their credit.

The pendulum swings between her fingers. "As soon as the balance is broken, it means that there is radiation." So potentially the water flowing underground. Small round glasses and goatee-like of the eccentric Professor Calculus of Hergé, Hervé Laurent is no less serious. His profession: divining, or "geobiologist." A broader term to refer to a specialist in environmental influence on living organisms. In 2007, after receiving specific training in Vannes and have trained for three years, the former surveyor of 49 years decides to create his own company, Art of the place, to practice his passion. Since then, he walks every week in its adoption of Normandy, but also in Seine-Maritime, near Paris or in Normandy, in search of blue gold.

To do this, Hervé Laurent uses the methods of dowsing.This technique, which is controversial in the scientific sphere, based on the faculty of feeling "all that shines, like electromagnetic waves", including water. Once on the ground, sticks and other clocks are involved, "they function as amplifiers of radiation," said he. But according to him, "a trained diviner may very well do without it, once it knows how to put his body in condition to capture any breach of magnetic fields." Although it states "take them out to professional confidence to the customer …" In addition, Hervé Laurent also uses the "scintillation counter, an electronic device can also detect water" and that confirms a first trial.

"A failure rate of 10%"

Like the rods, the pendulum is used to find water. Photo: PM

For Majencia, a French company whose clients are exclusively French, to produce 20,000 km was "questionable logic," in the words of its current CEO, Vincent Gruau. With the adventure of trying relocation in 2004, in 2006, when the company encountered serious financial difficulties, the newly appointed CEO has decided to repatriate all of the manufacturer's production office.

"When I joined the company, I found that our plants were in a situation of overcapacity. The workers were laid off at 20%. Rather than close the plant, whose vacancy was expensive, we decided to give work to our employees, "said Vincent Gruau.

Social progress

The company at that time in full recovery, putting on sustainable development.From this point of view, the relocation of production is clearly relevant: it is a CO2 saving, and social progress for the company employees who see their jobs secure. It remained to assess the economic impact of such change.

Given the nature of the products Majencia including metal storage boxes – the raw material and transportation were already 80% of their cost. "Our products are heavy and bulky, their price per kg is low. These are typically products that support a hard rising costs of transportation, "said Vincent Gruau.

When energy prices begin to rise, the cost differential production with France rises to 10%. To fill the latter gap is that the direction of the working groups with the workers at its plant in Noyon, in Oise online payday loans.Objective: To identify the stages of manufacture, areas for improvement in productivity, which will relocate in September 2006 in constant costs.

More flexibility

If the primary objective of management was at full capacity to hold one of its French factories, the relocation has had other benefits, this time trading. Besides selling point is that the anchor 100% French, Majencia gained flexibility. No more delays transport 6 to 8 weeks which require to store the items. The manufacturer of office can now provide on demand.

"Our customers are increasingly attentive to the quality of work spaces. They expect from us a custom production that we could not provide China, because we did not master the entire process of production, "says the CEO.While only boxes light gray and dark gray out of their Chinese factories, Majencia now produces small batches to order. "If a customer asks us boxes purple polka dot young, we can provide!".

Since the relocation, 31 positions were created after the finances of the company recovered, from 2009. While production of 30,000 boxes were repatriated in 2006, the additional volume has now more than doubled. With a net increase of 174% in 2010, the company is now profitable, is considering moving to 90,000 in the coming years.

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LE FIGARO. – Your net half-year euro rose 17% to 6.7 billion euros. Part of the French public displays Total estimated benefits "insolent." What do you tell him?

Christophe de Margerie. – What do you want Total to answer those who have already tried? However, I am ready to discuss the importance of our results and what they serve. In the first half, we invested 11.3 billion euros. We prepare the future, not just to look for oil and gas but also by positioning ourselves on new energy sources such as photovoltaic. In the second quarter, our results in dollars rose by 7% yoy and 19% in the first half.This is a more moderate increase than in oil and gas knowing that it mainly benefits the producing countries, our average tax rate was increased to nearly 60%.

It blames the gasoline pumps, starting with Total, a secret on prices …

There are no more transparent than the fuel market in France: the prices are posted daily on the Internet and on motorways. But the best protection for consumers is competition. The distribution market in France is hypercompetitive, with margins among the lowest in Europe, less than 1 cent per liter. This has led almost all the major oil companies to withdraw from the French market, but at least not total! For me, the fewer stations in France is a concern because it affects access to energy for all the French.Let us not forget that if our brand image of a monopoly, it is never that 20 to 25% of the market based on fuel. Far from the supermarkets, which account for more than 60%.

In France, Total is testing gas stations cheap, will you extend this experience?

The first results are satisfactory. We intend to extend the experience. Many issues remain unresolved, including the name and position in relation to our current network. One thing is certain, if we convert the try, we'll do it our way, with low prices, certainly, but also a real quality of service. Before any changes, a necessary preliminary: the dialogue with social partners.

You explore and exploit deeper and deeper, further. Is not it risky?

We do not manage a pension.Our goal is to identify and develop the reserves today that will meet the demands of tomorrow payday advance. For this, we must actually take calculated risks but the real risk of being hindered in accessing new reserves. So yes, we are going to countries 'difficult' in the political, technical or environmental: Burma, Nigeria, Libya or Canada and its oil sands … Production costs have soared. A barrel today is much more investment than ever, it is of a barrel of "high technology". Macondo after (the explosion of the BP platform in 2010 in the Gulf of Mexico, Ed), our security requirements are more than ever the priority but it will take part in rising costs, as well as requirements energy efficiency and reducing emissions of greenhouse gas emissions.I remind you that Total is committed to halving its volume of gas flared between 2005 and 2014.

What is your strategy to access these new reserves?

We are strengthening our strategy begun almost two years. We have made acquisitions of high quality. While we were rather conservative on sales, we prove that we know sell and sell well. We have sold our interests in the Spanish company Cepsa, to nearly $ 4 billion in an offshore block in Angola, most recently in the Norwegian gas pipeline network.We breathe our asset portfolio and disclaim cash flow for future growth on younger workers, focused on our growth areas in high technology – the ultra-deep offshore, liquefied natural gas (LNG) or gas as unconventional shale gas – while ensuring a good geographical balance. These eighteen months we have seen thus strengthen our position in Russia, Australia, Canada or in East Africa.

With shale gas, Total is it becoming a group more gas?

Our strategy includes both oil and gas. Today, gas is essential, it is cleaner than coal and oil to produce electricity. Gas now accounts for 45% of the total production, oil 55%. Shale gas has upset the market in the United States.In Europe, we start – when you can – just exploring, although many of exploration permits for the shale gas is already taken. However, we are already permits in Denmark, Poland, with Exxon, and Argentina.

Black Series for Chinese railways. After the disappointments of the Beijing-Shanghai line, widely derided by the Chinese Web, is this time a drama that causes the emotion of the public and raises new questions about the reliability of high-speed rail of the Middle Kingdom. The derailment on Saturday night, a fast train in the province of Zhejiang, near Shanghai, has made at least thirty-six dead and more than two hundred wounded.

The flagship of the national technology transformed in the process of death, it was enough to unleash the critics. The subject quickly became number one on Weibo, the Chinese Twitter, where some users even ask for the resignation of the new Minister of Railways, Sheng Guangzu.Determined to reassure public opinion, the central government responded quickly with the dismissal of three officials of the Bureau of Shanghai Railway and the opening of an inspection "urgent" for the entire rail network quickly. It is already the largest in the world with nearly 8000 kilometers. Beijing plans to build 25,000 km of rowing in 2015 and 50,000 in 2020.

"Management very opaque"

An incident signal is the cause of the tragic accident following a storm that would have cut the power supply.The first train came to rest on the line Hangzhou-Fuzhou up to the city of Wenzhou, before a second can come and hit on an overpass, four cars going overboard.

The recent revelations of corruption, which led to the dismissal of Minister of Railways Liu Zhijun, in February and the disappointments of the Beijing-Shanghai line, since its inauguration on June 30, have seriously damaged the reputation Fast Train "Made in China" held by the Chinese insecure themselves savings account payday advance. But the accident Wenzhou available as a "bloody lesson to all of the rail industry in China. This should be the starting point for standard rail safer, "said an editorial in the very official Global Times."The main problem of Chinese trains, the Ministry of Railways and its management very opaque bidding," says Thibaud Voïta, a researcher at Asia Centre.

Media and Chinese researchers close to the government are desperately trying to save face. While the label "100% Made in China" was praised at the opening of the Beijing-Shanghai, he suddenly recalled that part of the DNA is also imported Chinese railway. "The key technologies, such as control systems and the locomotive from overseas and they are perhaps not safe," said Professor Wang and the University Transportation Southwest Chengdu, known for his special train.

Today, the drama of Wenzhou could not only slow the pace of network expansion, but also jeopardize the future of the train overseas Chinese.Other emerging markets in South America or the Middle East were, however, referred to in Beijing.

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