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Monday, August 29 at 10 am, Alexander Pugachev, the owner of France-Soir, and Remy Dessart, the managing editor, will meet with employee representatives in a council. At that time, leaders should inform staff that they have requested placement in the daily backup process, as revealed PressNews.

The newspaper, which lost 32 million euros in 2010, is expected to lose at least fifteen this year. Reportedly, the group does not bend under the weight of debt. It supports about 2 million in payables. In fact, the financing of the newspaper is provided by Alexander Pugachev himself, who regularly feeds the current account of the newspaper to pay the bills.Figaro in an interview last November, he declared: "France-Soir has no bank debt … We lose about 2 million a month and every month I put money on account."

This backup procedure, if accepted by the Commercial Court of Paris, will allow the appointment of an administrator. Its role would be not to negotiate with creditors, but rather to address the structural and economic reasons that make the newspaper is in permanent deficit. France-Soir and will be until the release has not reached the 150,000 to 170,000 copies by the admission of its owner.However, at present, the paid circulation of the title revolves around 74,000, despite the relaunch of the title made in January 2011.

The cost structure

Alexander Pugachev, who has already invested 50 million euros in the title, was prepared to inject 20 million euros in 2011 to run the newspaper and energize. But today, it raises the question of the cost structure of the paper. The selling price, even back 50 to 60 cents, and low advertising revenues do not find a financial balance. The equation is complicated Alexander Pugachev. To reach 150,000 copies, the newspaper needs to invest in editorial quality and a strong distribution. But this is expensive. It might therefore seek partners to share the burden.

One more! Taiwan's HTC has come to swell the list of phone manufacturers in lawsuits against Apple for patent infringement by filing a complaint on Tuesday night. He joined Motorola and Samsung in this. And all three are pursued by Apple are accused of having copied its phones and tablets. To believe that the trial is a way like another to manage a patent portfolio of brands. The complaints became so numerous that more and more industry observers blame the mobile phone companies to spend more in legal fees only to pay engineers. At the expense of innovation.

A drift that Apple, as a party plaintiff or defendant in a number of ongoing trials, is no stranger. The firm seeks to protect its technologies as well as its distinctive (packaging, product development, wiring).Apple targets are far from accidental. As for Samsung, HTC and Motorola, it indirectly addresses its main competitor in the mobile phone: Google's Android, which equips the devices of the three brands offending and weighs 43% of this market.

The game is risky for Apple, which is far from winning all its trials. After graduating last week a ban on the marketing of the Galaxy Tab Samsung in Europe, Apple has finally seen its competitor be allowed to sell the tablet in Europe, except Germany. Apple is also regularly attacked by some "small" sector, like Creative, to whom he had to pay $ 73 million, accused of using its expertise in digital music player for his iPod payday loans guaranteed no fax. But these repeated attacks are proof of the incredible ability of Apple to seize the zeitgeist and often improve the copy.Which in terms of "victims" is no excuse. Especially as unwilling to compromise, Steve Jobs, the CEO prefers to go to trial, even if it means losing. Another failure in the face of Nokia. Apple was ordered to pay a lump sum and use rights, which amounts have not been made public, some patents.

A dangerous game

A similar logic to that which led Microsoft to claim $ 15 a smartphone sold to Samsung. The U.S. already collects $ 5 from HTC. For its part, Oracle accuses Google of violating some of its patents to develop its operating system for smartphones Android, and is seeking $ 6 billion.

"Apple has it gone to the dark side of the Force?" The question made the rounds of blogs devoted to the subject, concerned about the prosecution of the brand.We are far from "nice" Apple label won in the late 1980s and early 1990s, as opposed to "bad" giant Microsoft, which dominated the world. Apple, so concerned with his image of "challenger" and an alternative to the dominant model, probably not only take the risk to see it tarnished nor disappoint his fans.

After losing more than 8% over the last seven sessions, and have plunged dangerously, this morning, falling 1.8% to 3460 points, the Cac 40 limited its losses slightly in mid-session, down from 0.40% to 3508.71 points. The index featuring Paris is nevertheless on track to sign an eighth consecutive day of decline.

On other European financial centers, the Footsie-100 from the London Stock Exchange 0.97% to 5663.10 loose points, the DAX 30 Frankfurt Stock Exchange lost 0.83% to 6740 points. But stock markets in the South, the more destabilized the previous day to resume mid-term: 20 PSI of the Lisbon Stock Exchange will stop over as well, only 0.05%. Milan bounces more frankly about 1.15%, and Madrid, 1.59%.

Juncker meets with Italian Minister of Finance

The European sovereign debt and U.S. continue to weigh heavily on the trend.Yield spreads between bonds to ten years Spanish and Italian over German bonds widen. They stood at 402 basis points respectively (13 bps) and 386 basis points (12 bps). Italy and Spain are again under pressure from the markets fear a contagion of debt. Their governments are mobilizing to stem the panic even if Brussels has ruled out any discussion of a bailout for those countries. The Italian Finance Minister Giulio Tremonti and the leader of the euro zone, Jean-Claude Juncker, today concluded their discussion by considering that the reflection on the debt crisis was to continue "calmly."For its part, the Spanish Prime Minister Jose Luis Zapatero on Wednesday convened a meeting on "market movements".

China increasingly perplexed vis-à-vis the dollar

Investors also remain worried about the strength of U.S. growth. And, although the Senate has ratified Tuesday the plan to raise the debt ceiling. Insufficient agreement by Moody's which could lower the rating of the country. The closing down sharply on Wall Street Tuesday night also confirms the markets in their choice to continue to withdraw.

China, for its part welcomed the adoption of very hard this plan. Beijing said it would continue to limit its dependence on the dollar, whereas the U.S. has failed to defuse "the bomb of debt." The rating agency Dagong China in the wake downgraded American.Wednesday morning, Asian stock markets, with the exception of Shanghai, changing all down sharply.

Eurozone: activity in services slows further

On the macroeconomic front, the growth of activity in the services sector continued to slow in July to register their slowest pace since March 2010. The PMI index reached 54.2 against 56.1 in June.

The same goes for the euro area and for Germany: the composite index stood at 52.5 against 56.3 respectively in June and 51.1 against 53.3 in June.

For the euro area, retail sales rebounded 0.9% in June compared to May, where they had fallen by 1.3%, said Wednesday the EU statistics office Eurostat.Eurostat revised down its initial estimate for the month of May, initially announced at 1.1%.

In the U.S., investors will also pay attention to employment figures in the private sector in July (2:15 p.m.), the industrial orders in June (16 hours), the ISM services in the month July (16 hours) and weekly inventory of crude oil (16.30).

Bic flies, Societe Generale sinks

Air France-KLM: + 0.38% to 7.86 euros

The airline plans to delays or cancellations of flights, from Paris, following a strike by technicians responsible for maintenance of its aircraft.

Total: -0.64% to 36.56 euros

The oil company and its CEO Christophe de Margerie were returned to correctional late July for "active corruption" in the investigation into the UN program "Oil against food" in Saddam Hussein's Iraq from 1996 to 2003 officials said a judicial source.

Danone: + 0.01% to 49.51 euros

The dairy group has unveiled a proposed acquisition of 250 million euros in nutrition in India to expand into the Indian markets for infant nutrition and medical purposes.

Societe Generale: -6.91% to 30.26 euros

The bank chaired by Frédéric Oudéa posted net income down 31% to 747 million because of writedowns on loans Greek past.Greece forced Societe Generale has given up its goal of net profit of 6 billion euros in 2012.

Crédit Agricole: -1.53% to 7.87 euros

The bank said it had sold its commercial finance Eurofactor in Britain to GE Capital.

Suez Environnement: + 1.87% to 12.82 euros

The group specializes in water management and waste released on Wednesday a net profit down 43% to 221 million euros in the first half. Suez Environnement, however, reaffirmed its financial targets for 2011-2013.

Bic: + 4.62% to 64.34 euros

Bic raised its growth target for the division of pens, lighters and disposable razors, to "greater than 5%" against up to 5%.Instead, the group anticipates a decline of about 10% growth for its advertising and promotional products division against 5% previously.

Hermes: -2.50% to 237.50 euros

The Association for the Defence of Minority Shareholders (Adam) wonders why the saddle spends as much to buy back its own shares, whose price has reached a new record this week, said Tuesday its president Colette Neuville.

Renault: -0.06% to 35.34 euros, Peugeot: + 0.66% to 24.43 euros

American manufacturers have announced their sales figures on Tuesday night. Chrysler reported a 20% increase in sales of new cars in the U.S. in July, while Ford saw its own increase by 9%.French car values ​​rebound sharply in mid-session.

Accor: -0.80% to 28.59 euros

Accor announced the signing of the sale of catering group Lenôtre Sodexo following the favorable opinion of the works councils of both groups.

After-hours trading, Vilmorin and Cegedim must publish their annual turnover for the first and second quarters respectively.

New boss to change the head of the Sunday Journal (JDD). The managing editor Olivier Jay, who had succeeded in February 2010 in Christian de Villeneuve, will give up his post. It will soon be replaced by Jérôme Bellay, former head of France Info, a LCI and Europe, as revealed by the site of the weekly Le Point.

According to our information, features Jérôme Bellay in the day of the seventh day of the Lagardère group is expected to exceed the strict framework of the chief editor. He should be appointed as director of next September. Faithful group Lagardère, Jérôme Bellay it now runs the production company Maximum.Founded in September 2000, Maximal Productions (a subsidiary of Lagardère Entertainment) produces reports, documentaries and magazines for information and knowledge, which the magazine "C in the air" presented by Yves Calvi on the channel France 5.

Olivier Jay was received by Lesouëf Bruno, the CEO of Lagardère Active magazine, and Denis Olivennes, the new head of group media information center (Europe 1, Paris Match and Le JDD). Its future within the group is not yet known. Neither Lagardère Active or Denis Olivennes have commented on the desired information.

Le Journal du Dimanche, which opened a new formula on March 6, saw its circulation fall by France paid 13% in the first quarter of 2011 compared to the same period in 2010, according to OJD, reaching 233,445 copies.The change at the head of management to allow, according to sources familiar with the matter, to give "even more attractive to breath and JDD to be a major news magazine seventh day."

The Central Bank of the United States (Fed) is more pessimistic about the U.S. economy than it was last April. She announced on Wednesday to lower all of its forecasts for the fourth quarter. Result: economic growth year on year over this period should be between 2.7% and 2.9% against a range of 3.1% and 3.3% previously.

In turn, the unemployment rate should be between 8.6% and 8.9% on average in the fourth quarter, while two months ago the Fed was counting on 8.4% to 8.7%. The unemployment rate rose to 9.1% in May Finally, inflation is seen between 2.3% and 2.5% year on year and between 1.5% and 1.8% excluding food and energy.These forecasts are higher than in April, from 0.2 to 0.3 percentage points.

The Monetary Policy Committee believes that "the economic recovery continues at a moderate pace, although slightly slower than the Committee had anticipated." The Fed also shows less optimistic regarding the labor market. It considers "lower than expected," instead of "gradual improvement" in his words of April.

Rate remained at zero

In this context morose, the decision was taken unanimously by the members of the Monetary Policy Committee to leave unchanged the interest rate the central bank in a range from 0% to 0.25%.This is the twenty-second meeting following the end of which the committee announced that there will remain "for a long time."

The Fed also reiterated that its share repurchase program of $ 600 billion of debt the Treasury launched in November will end well at 30 June The Fed will continue its policy of reinvestment of securities it holds. One way to maintain a constant level of liquidity injected into the financial system of the United States payday loan.

The Fed lends to new interventions

At a press conference, the Fed chief, Ben Bernanke, said it was considering as well as to intervene again to change nothing. "We would be prepared to take additional measures, clearly, if conditions warrant. We have a number of ways of acting, none of them being devoid of risks or costs.We could, for example, make more purchases of securities or structured differently. We could lower the interest we pay to banks on their excess reserves with the central bank, "he said.

In his view, the Fed could act "by giving a specific date to define the long period" during which it wishes to maintain its key interest rate near zero. "These are the ways we can ease monetary policy further if necessary. Of course, all these things are somewhat unusual, "noted the President of the U.S. central bank.

But he stressed that the Fed could also maintain the status quo: "If the economy worsens and inflation remains relatively low, then we will not begin to emerge from the current monetary policy, he warned. And therefore we will not change the language. "

The central bank, anxious to reassure the markets, however, added that "the slowdown in economic recovery is in part a reflection of factors likely to be temporary, such as rising food prices and energy, or purchasing power and household consumption, and supply disruptions associated with the tragic events in Japan. " On Wall Street, investors are not convinced. At the close, the Dow Jones loose 0.66% to 12,110 points.

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Lehman syndrome is in everyone's head. The debt crisis in Greece and other countries in the euro zone could "derail the economic recovery in Europe and perhaps in the world," said Friday in Sao Paulo (Brazil) Olivier Blanchard. The chief economist of the IMF keeps clearly in mind the collapse of investment bank Lehman Brothers and the effect of stupor that had followed. A few weeks later, international trade plunged by more than 15% and the global economy went into recession.

With a new version of its forecasts, this time slightly down from last April (world growth is reduced from 4.4% to 4.3% in 2011), the IMF is concerned about the risk of "destabilizing defects" on sovereign debt.The feared scenario is thus described: "In the event of a severe market event, a shock could reverberate beyond the euro area by the game at a time of exposure border (bank's debt these countries) and a general decline in risk appetite. "

Overheating of the emerging

Long shared the conduct more or less expansionary economic policies deemed desirable by governments, the IMF now delivers an unambiguous message: "Policy makers should strive to make rapid progress in the consolidation of the financial system." He took the opportunity to ask the U.S. Congress to meet "immediately" the ceiling of federal government debt, currently the subject of disagreements between the Republican and Democratic members personal loan for poor credit.

The IMF estimates that Japan will suffer a decline of 0.7% of GDP this year, following the earthquake that struck the archipelago on March 11, but its economy is expected to rebound 2.9% in 2012. International experts acknowledge the slowing U.S. economy since the beginning of the year they consider "higher than expected." This leads to belittle the Fund from 0.2 to 0.3 percentage points growth figures for the United States in 2011 (2.5%) and 2012 (2.7%). "In contrast, growth has surprised on the upside in the euro area, driven by investments more generous in Germany and France," he notes.For the second consecutive year, the German economy will grow at a rate above 3% in 2011, while its French neighbor to grow by 2% this year and 1.9% next year.

Emerging countries, whose annual growth will exceed 6% in 2011 and 2012, are facing a problem of "overheating". Without naming any countries by name, Olivier Blanchard believes that "inflation rises above the increase in raw materials and food prices." Hence the recommendation made to them to tighten their monetary policy, "The more long rates remain low, the greater the risk of a crash landing."

The government is very worried by the drought that has spread to 61 French departments and is willing to provide aid to farmers. Nicolas Sarkozy, who is in the Charente on Thursday presented a plan to help farmers affected by drought which includes a "shift one year" repayment of loans granted to farmers in 2009, and waived the Tax on undeveloped land.

"It is essentially a cash flow problem is (…), you repay your debts, or you pay for your food animals," said Nicolas Sarkozy after visiting the operation of a cattle farmer Montemboeuf . "We will find you some leeway and we will shift all the payments of a year," he added. "Essentially this is a map of deferments," stressed the head of state.He stressed that the "encryption" of this measure, the state will take over the payment of interest owed by farmers, could not be established "now" does not exclude other measures if necessary .

A budget of 500 million

At a roundtable in La Rochefoucauld, the Head of State later clarified that this related only to the reimbursement of aid paid under the plan launched in 2009 Poligny (Jura). "I just do not tell the difference repayment of all loans in French agriculture, it must be serious," he said. During the roundtable, the president also said that "farmers in the affected areas would benefit from an exemption from tax on undeveloped land (…) which represents 300 million euros."

In the process, he said that the state would pay the national guarantee fund against agricultural disasters, mobilized by the Minister of Agriculture, Bruno Le Maire, a budget of around EUR 200 million to enable the payment Advance compensation "from the month of September." "On 12 July there will be a first test session files (…) the first payments will be held in September," he said.

Facilities of National Defence made provisions

Finally, Nicolas Sarkozy has announced, next week, a meeting of professional agricultural organizations with the Ministers of Agriculture, Ecology and Defense, as well as the CEO of SNCF to adjust logistical problems posed by the movement of fodder from farmers in difficulty."The problem is less a production problem at those you book (fodder) that a massive logistical problem," he said, adding that "national defense facilities" will be made available to allow storage straw and fodder.

In his speech, the head of state has ruled out any direct assistance to farmers in difficulty. "Do not fall back into bad habits to give you benefits that would be declared illegal (by Brussels, ed) in a few months," he said.

In addition to these economic measures, Nicolas Sarkozy also announced the establishment of a five-year plan to create water reservoirs and reduced volumes of water used by agriculture."We must learn to make better use of water," he résumé.Les farmers cautious

The President of Young Farmers Jean-Michel Schaeffer has cautiously welcomed as a "first step" measures that have just been announced by the head of state, hoping they will soon materialize. "These are statements of good intentions. Now we must see action, wait and see what's behind. We know that the devil is in the detail. Awaiting implementation, "said the farmer, who is the head of a union representing 50,000 members. His remarks mainly concern 200 million euros to allow advance payments of compensation. "The damage, we will evaluate them between July and August. Will this be enough compensation? It is far too early to tell, but it is a first step, "he said.

François Fillon evaluated Thursday before the senators, "nearly one billion euros" as the sum of national solidarity will have to spend to support farmers.

(With AFP)

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The rebound began last Friday Asian stock markets continued early in the week. On Monday, all the contracts displayed in green unless the Tokyo Stock Exchange will serve as a fulcrum. Japanese markets are indeed closed due to a holiday. Traders seem reassured by the nuclear situation in the Archipelago which does not worsen and remain driven by the decision of G7 on the night of Thursday to Friday to intervene to counter soaring yen. On Monday, moreover, the Japanese currency continues its decline against the dollar at 80.90 yen against 80.59 Friday in New York.

In Hong Kong, the Hang Seng began the day with a rise of 1.30% and stabilized at this level. Around 7 o'clock he was earning 1.23% at 22,574 points. In Shanghai, the Shanghai Composite was more hesitant: it starts up slightly from 0.14% before returning to equilibrium (-0.09%).The Chinese investor is within the scope of the decision of the Central Bank on Friday to increase again by 50 basis points the rate of reserve requirements of banks. This is the third consecutive year, to fight against the abundance of liquidity creating inflation.

Other markets climb: in Korea, the KOSDAQ gained 1.78% in Australia, the S & P is 0.35% and the Indian Sensex gained 0.20%.

Nervousness

However, the increases are very conservative. In addition to Japan, for which the disaster is expected to cost $ 235 billion, or 4% of GDP by the World Bank, all eyes are again turned to Libya. The country of Muammar Gaddafi been since Saturday night of air strikes of the international coalition aimed at establishing a no-fly zone.The latter said Sunday have severely damaged the Libyan air defenses and preparing to attack from today's supply lines of forces regime.

"Investors are reluctant to go on the market after the rebound that followed the meltdown triggered by the nuclear crisis in Japan last week, told Dow Jones Newswires Anthony Anderson, broker at MF Global. "The rise of Wall Street has been encouraging, but it closed well below its high of the session, and nervousness persists on Monday," he added.

Oil rises

In this context, oil prices were up in morning trading in Asia. A barrel of light sweet crude for April delivery took 1.88 dollars to 102.95 dollars. That of Brent North Sea crude for May delivery gained 2.14 dollars to 116.07 dollars.

"Oil prices rose because of military attacks in Libya from the coalition. Oil facilities could be destroyed during strikes or when sabotage, "said Victor Shum of Purvin and Gertz firm.

Public support for export, support for relocation? It is the fear of the Court of Auditors. Although the French system of export support has been greatly modernized in recent years, some loopholes remain. The linchpin of the state, Ubifrance offers services – support of SMEs abroad, participation in fairs. – That they can still lead to "transfers of activity from France to a third country." The sages emphasize that leverage actions Ubifrance is not measured, as is the case in Germany or the United Kingdom. And therefore suggest that the French policy of internationalization of firms take into account "the consequences in terms of national employment."

Beyond this caveat, the Court recommends that "a clarification of roles" between Ubifrance, Coface (covering the risk of default on behalf of the state) or OSEO (which counts in its product range ready for export). It advocates a more selective aid subsidies for exploration, the export tax credit … "to enterprises with export potential in the long term," the vast majority of firms export only once. She advises finally improved budget monitoring public guarantees granted to Coface. Over the period 2005-2008, 3% of exports have benefited from a system of public support.

Traders are long faces. The winter sales come to an end on Tuesday and the results of the races is gloomy, if not worse. Evelyne Chabalier the French Fashion Institute (IFM) suggests a small increase in sales of 1% over one year is "nothing unusual". The National Council of Shopping Centers (CNCC) table with his hand on lower sales of the same order as the National Federation of clothing (FNH) speaks of a balance "around 0%, slightly down" versus in winter 2010.

"There is clearly a gloom among consumers," says Jean-Michel Silberstein CNCC. Charles Melcer, president of the confederation of merchants from France is more radical: "It can not continue like that. It goes straight into the wall, "he lamented while small shops and garment bag showed decreases of 10% and 8% from last year.

Lack of legibility

One explanation advanced in this campaign is lackluster late check balances, which began Jan. 12 against starting on January 6 last year. "We thought there would be a postponement of the largest purchases in December to January, after the weather year-end. It happened the first few days but sales have collapsed after, "says Jean-Michel Silberstein.

Furthermore, professionals denounce the proliferation of promotions before the commencement date of sales. A trader in Paris had two promotions before balances in anticipation of a late date, according to the Chamber of Commerce and Industry of Paris (ICC). "Promotions, Pay floating and other seasonal sales: you create a lack of clarity and it pushes the shopping," says Charles Melcer.

Financial reluctance

On the merits, traders are convinced that the French had not yet morale on a spending spree in a context of "economic conditions still uncertain," according to the ICC. With budgets tight, targeting only the customers very well. Note the FNH and the third apart up to 60% and more "has customers coming back again and allowed to sell the stock," as last weekend.

Moreover, the rain did not motivated buyers to leave their homes. To the delight of distance sellers. The barometer of the federation of e-commerce and distance selling (Fevad), released Monday, shows a 13% increase in online sales over the first four weeks compared to the same period of 2010. Orders are up 14% with an average basket of orders stagnated at 109 euros.

In addition to the Internet, only to keep smiling merchants products are medium-high range. Spring example, the winter sales 2011 are classified as "exceptional" with an overall increase of 10%, but approximately 13% for the Haussmann store in Paris. Evidence that bargain hunting is not the priority of all.

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