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Safran, currently listed on the SBF 120, will make its debut on the CAC 40 on 19 September. The industrial and technology group, owned 30% by the state and 16% by its employees, replaces the bank Natixis in the most important indicator of the Paris Bourse. The announcement of the decision of the scientific evidence that fell Friday night to enter into force on September 16 at closing. The CAC 40 has not seen changes since September 2010, when Dexia (bank) and Lagardère (media) had been replaced by Natixis and Publicis (advertising).

The case for an entry Safran are numerous. The group was first sold 6.5 million treasury shares on the market late in July to increase its free float to more than 50%. Or the size of free float is one of the most important criteria observed by the Board for an introduction to the Cac 40.Capitalization criteria equally crucial $ 11.6 billion. Finally, the performance of the title are not negligible. The stock has gained more than 14% since August 26, while the SBF 120 index has returned just 5.6%. Since the beginning of the year, it grew by 5.4% when the SBF 120 index lost more than 12%. "There is a large consensus on this value. Safran is a great candidate, "pointed out shortly before the decision Emmanuel Besson, manager at Equity Management Ofi AM.

Suez Environnement does not leave the Cac 40

Suez Environnement was on the spot. The company, owned 35.8% by GDF-Suez and 7.2% by Groupe Bruxelles Lambert, certainly has a free float above 50% but its market capitalization of 5.88 billion, is among the lowest in the four Cac 40, with STMicroelectronics, Accor and Peugeot.In addition, the title was severely punished by investors: it shows a loss of 17.6% since the beginning of July, in line with the losses of the CAC (18% over the period).

But it Natixis, which has been designated to leave the Cac 40. It must be said that banking stocks have suffered heavily in recent weeks. The title is back in the index only a year ago and this decision "could create additional pressure on the banking at a time when we seek to appease," said Emmanuel Besson.

Before the verdict, Safran fell by 2.77% to 27.05 euros at the close, in a market down 3.59%. In turn, Natixis lost 4.57% to 2.71 euros.

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Sign that the markets are still very feverish, gold crossed for the first time in its history the bar in 1900 dollars an ounce to more than 1914 dollars exactly. Nevertheless, the Cac 40 was able to continue to rise on Tuesday, after gaining 1.14% to 3051.36 points at the close Monday. The index, which accounted for more than 2% in morning reduced its gains later and was up 1.08% to 3084.37 points at closing.

Of the other major European stock markets, the FTSE-100 from the London Stock Exchange gained 0.67% at end-30 Dax and the Frankfurt Stock Exchange is 1.07%.Wall Street closed Monday evening while a cautious rebound Asian stock markets advance slowly, scheduled to open on Tuesday, and more open up if we believe the index futures.

While awaiting the president's speech to the U.S. central bank, Ben Bernanke, Friday, and the publication of the second estimate of U.S. GDP in the second quarter, the same day, the markets remain nervous and are attentive to the situation in Libya where the prospect of regime change seems inevitable after 42 years of rule of Colonel Gaddafi. The wait also dominates the New York Stock Exchange opened in a small increase.

Oil prices retreat slightly

As a result, oil prices are cautious on Tuesday. a barrel of Brent North Sea crude for October delivery barrel of Brent took only 18 cents to 108.54 dollars, after losing 18 cents in early trade.In New York, a barrel of "light sweet crude" for delivery in October has opened up 66 cents to 85.06 dollars.

On the macroeconomic front, the growth in activity in France has re-accelerated slightly in August, but three months to offset the sharp slowdown that has just experienced. The manufacturing PMI rose to 53.6 points against 53.2 in July.

But, overall, the indicators of the day are at least mixed. The barometer of confidence Zew, who searches the expectations of German financial community, still has significantly declined in August for the sixth consecutive time. Private activity in euro area, it stagnated and remains at a low of nearly two years.

In the U.S., sales of new homes in July emerged declined by 0.7% in July, after falling 2.9% in June, according to figures released Tuesday by the Commerce Department.On an annual basis, the sales trend was 298,000 units, after 300 000 (revised 312000) in June. Analysts on average had forecast 310,000.

On the corporate side, while the regime of Colonel Gaddafi is expected to end, the oil is in the form: Technip wins 1.45% to 60.69 euros and total advances of 1.15% to 33.085 euros.

The CAC was increased by cyclic: Air Liquide (2.85% to 68.22 euros) signed the largest increase in the Paris index.

Schneider Electric: + 2.09% to 86.63 euros

Schneider Electric continues for the second time its tender offer in cash on all shares of Spanish Telvent at a price of 40 dollars per share.

Carrefour: + 0.62% to 18.755 euros

Carrefour announced Monday the appointment of Thierry Garnier, currently executive director of distribution group for growth markets, the Executive Director for China and Taiwan, replacing Eric Legros.

Sanofi: + 1.68% to 49.95 euros

Aventis Pharma, Indian subsidiary of Sanofi, is close to buying activities without prescription Universal Medicare, an unlisted Indian pharmaceutical company to 75.8 million euros, said on Tuesday two sources close to the situation.

Societe Generale: -0.31% to 21 euros

Societe Generale has asked the bank Rothschild to set up a liquidity contract with a budget of 170 million euros to support its action, which has lost more than 40% of its value in a month.

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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Twenty-six proposals to save 2.2 billion euros next year, a "natural" tendency of increase of 6.9 billion. Like every year, Medicare will send the Government's proposals for the 2012 budget of Social Security. The executive will draw freely but in general it holds most of the suggestions. Recommended no action shall impose on the insured – no further change or delisting rules to support 100% of long-term illness. What to avoid controversy, the approach of important elections …

Lower prices on medicines and prostheses

The pharmaceutical industry, which would be greatly put to use, will not fail to warn on jobs and innovation at risk.Medicare proposes that for more expensive drugs than in other European countries (PPIs, statins …), the price of new generic is 70% below the price of branded products, instead of 55% on average. It also calls for reductions in tariffs on drugs dispensed in hospitals and on the hip and knee, where prices were set 15 years ago. These are ceiling prices. If health facilities are getting better, they are expected to return half of the economy to health insurance. The controls will be strengthened as the "Safely" has recovered as well as 500,000 euros in 2009, while the gap between actual rates of prostheses and ceilings … reached 100 million!

Use more effective against private insurers

In traffic accidents, the driver's fault auto insurance reimburses the Medicare health care costs guaranteed fast personal loans.But last year, in 90,000 cases, auto insurance had acknowledged responsibility for his client, but Medicare had covered any claim. 300 million euros in waiting! The procedures could be revised to reduce delays.

Reduced use of hospitalization

Medicare proposes to create "autonomous centers," halfway between medical practice and hospital, to perform acts of simple outpatient surgery such as cataract operations. She also imagines the "technical package" for the city can equip practitioners in their offices and perform acts usually performed in the hospital (extraction of wisdom teeth, interventional radiology …). Interest: a lower cost than hospitalization.Finally, institutions of hospital at home who do more than other acts also achievable by independent nurses – to 4 times less in the case of complex dressings – would be put under prior agreement.

"Coaching" and insured for more prevention

Tested in the Sarthe, the "Active Health" offers workshops – advice and soon the Internet – on heart health, back pain and diet. A key, less medication use, care and work stoppages. It could be extended to ten other cases. The program Sophia (accompanying diabetes by nurses over the phone), launched in 19 counties, it would be generalized and extended to asthma.

Facebook has brought together people around the world. The publisher of online games Zynga has sought to occupy, creating applications fun to explore with friends, as Farmville, World Café and the recent Empire & Allies. In four years, Zynga has become the leading provider of online social games. Above all, the company has developed a profitable business it is preparing to introduce the stock market.

According to the draft filed Friday with the U.S. authorities of the Exchange, the company plans to raise $ 1 billion. It already has shareholders including Mark Pincus, CEO and founder (16%), Kleiner Perkins funds (11%) and Institutional Venture Partners (6.1%), Russian DST also present in Facebook and Groupon (5.8 %) or Reid Hoffman, co-founder of LinkedIn. Only part of the capital would be put on the market. The document does not specify the timing or the valuation of the company.Its shares traded, however, already on the gray market at a valuation of $ 20 billion. Other estimates place it at $ 15 billion.

A destiny linked to Facebook

Therefore, these amounts bet on the growth of highly profitable business model. Zynga pulls up the majority of its revenue from the sale of virtual goods, while just over 5% comes from advertising. In 2010 it sold its games for $ 839 million of tractors and apple virtual pixels. The turnover of the editor, who must pay back a 30% commission to Facebook for hosting games and payment management through its Facebook Credits, reached $ 598 million.Its net income totaled $ 90.6 million for the year.

The rise of social networking takes Zynga and sales: in the first quarter of 2011, it jumped 133% to account for 235.5 million dollars in revenue. Some analysts place and the turnover of the company in 2011 to nearly $ 1.5 billion.

But this success Zynga is intrinsically linked to that of Facebook. "If we fail to maintain a good relationship with Facebook, our business will suffer," admits the company. A change of terms and conditions of alienation or social network users to the site and will impact directly the activity of Zynga. Another challenge for start-up: it must successfully implement its business model to success in the mobile, from which a growing number of users connecting to Facebook.Finally, the majority of revenue is generated by Zynga a few games. To sustain and develop its income, the publisher could therefore benefit from its IPO to buy competitors. The company already has $ 995 million in cash.

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Renault Twingo will have to sell its cheaper than the Dacia Logan According to La Tribune. The automaker will reduce for two months and the price of its Twingo 6990 euros to 7600 euros against the Dacia Logan. A discount of 31% (or 3,150 euros) paid by the manufacturer.

To receive this offer, requires reversal of Renault vehicles over eight years for the case. This choice comes as the new number two manufacturer's Carlos Tavares, takes office today. For a month and a half, the automaker had proposed cuts of 45% of the Clio III, sold less than 8000 euros.

After the disappearance of the key measure of scrapping this business transaction represents the difficulties of Renault to stem the fall in sales.While the latest figures are expected in the automotive market today, Renault saw its new car registrations in France plummet in recent months: -12.4% in March, -19.1% in April, -18.2% in May. The manufacturer attributed this poor performance to supply difficulties but analysts believe it also suffers from the weakness of its range.

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Finance ministers of the euro area suggest caution in setting up a system to prevent a collapse of Greece. To address the most urgent, the central bankers of the Eurozone have laid the conditions for payment "by mid-July" of the next tranche of 110 billion euros in loans over three years promised last year by the troika . The release of the loan is linked "to the adoption of key legislation on the budget strategy and privatization by the Greek Parliament," the ministers said at the end of yet another meeting on the Greek crisis started Sunday in Luxembourg. Without this loan, Athens, facing deadlines refinancing risk bankruptcy next month.

Especially the Europeans intend to set up an assistance program to enable Greece to avoid a default in the longer term. This time, the private sector should be involved."The ministers agreed that the additional funding required will be financed both by official and private sources," assured the European central bankers. The ministers also began to speak with one voice on such terms as this will help: they have indeed "welcomed the goal of voluntary involvement of the private sector in the form of roll-overs informal and voluntary debt Greek existing mature. " In other words, the creditors will agree to replace loans maturing by others of the same amount.

Jean-Claude Juncker, a leading finance ministers of the euro zone, said Monday he has "decided to convene a special meeting of the Eurogroup on July 3" to complete the program of aid to Greece.He also announced that members of the euro area agreed on the creation of a permanent fund for the euro area. It will have 500 million euros that will be lending to countries in the area who find themselves in difficulty.

The assistance could reach hundreds of billions of euros

So far the ministers were divided on the issue of assisting in Athens: Germany favored the idea of ​​longer maturities on debt, where Paris defended the option of "rollover" . "We agreed on the voluntary involvement of the private sector while there is a week or two options on the table," welcomed Jean-Claude Juncker.The most important thing is to convince investors that it is not part of a default of payment, liable to cause market panic and contagion to other countries in the euro area.

The amount of this aid has not been determined. Ministers have simply stated that this operation should be a contribution "substantial" in the Greek program "and avoid a default (of payment) selective" in the country. Some point to have a total of a hundred billion.

If the main principles of this new aid were recorded, details of the plan remain to be defined. The "main parameters of a new funding strategy clear" should be defined "by early July", say the ministers.The initial ambition of the ministers were, however, to "discuss the participation of private creditors," stated Jean-Claude Juncker, adding "the question is how far it can and must go."

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The battle will be tough on Tuesday at the Assembly: MEPs adopt or reject the amendment to the UMP famous Marc Le Fur taxing works of art to the ISF. The election be close, so the measure is controversial. It was passed Wednesday in the narrow circle of the Finance Committee with the votes of the Left and some elected majority, despite opposition from the general rapporteur of the budget, Gilles Carrez (UMP).

And the government is opposed. Sunday is Frederic Mitterrand, the Minister of Culture and Communication, which is mounted to the plate in an interview with Journal du Dimanche. "The taxation of works of art would mechanically collapse art market," he said.And added that the IRS can not afford to make checks, "the collection is so uncertain that it is not even encrypted by the Ministry of Finance."

Aware that the game is far from won, the Minister of Culture has sent a letter to the elected majority and will meet Tuesday morning. Gilles Carrez also seeks to convince. Some suggest an alternative solution, proposed amendment by Jean-Louis Borloo fall 5% to 19% taxation on capital gains on the sale of works of art. Gilles Carrez, but there is not favorable.

Losers among the highest wealth

More generally, the review this week in the Assembly to reform the taxation of wealth may be an obstacle course Internet Payday loans. Because the amendment on the artworks is just one more … 2000.The Socialists have multiplied the amendments, this reform reduces the ISF and removes the tax shield a political issue.

In its report on the text, Gilles Carrez, however, shows that taxpayers who receive the ISF will lose the shield to the reform, due to the end of the shield. Thus, 1015 households with more than 16.5 million euros of assets and beneficiaries of the shield will pay an average 211,323 euros EWB, against 64,164 euros today. Indirectly, these figures show that the shield divided by more than six bills EWB (429,057 euros before shield, 64,164 euros after). For estates of more than 65 million, the same bill passes 1.6 million to 275,000 euros. Considering that some taxpayers have abused the system by artificially reducing their taxable income (eg life insurance), Gilles Carrez defends removing the shield.However, he worries about the replacement part of the ISF, a tax increase of 11% per year, by inheritance and gift taxes, up 6%. And he notes that the reform leaves a hole of 550 million in 2012.

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Parisian investors tried to back up the hill after a session that began in the 3900 ACC 40chuter points. But to no avail. After taking all morning, the benchmark index of the Bourse de Paris digs its losses to 15 hours (-0.92%) at 3854.15 points, after the announcement by the U.S. Department of Labor unemployment figures very disappointing for the month of May. Same scenario elsewhere in Europe, the Dax index featuring the Frankfurt Stock Exchange Folding of 0.47% to 7041.04 points while the FTSE was down 0.59% to 5813.26 points.

In addition, investor optimism is reinforced by the continuing problems of sovereign debt in Europe.Today Greece and the "troika" will unveil details of an upcoming fiscal tightening.

Finally, operators are troubled by bad macroeconomic indicators in the U.S. which suggest that the recovery is still difficult for the world's largest economy. Yesterday, the bad news is still chained to the front of the productivity, prevents Wall Street rebound. This morning the Asian market was also very mixed. This especially since the rating agency Moody's has threatened Thursday to put the debt rating of long-term United States, currently at AAA, on negative watch.

The service sector slows in Europe

Finally, the wait dominates before the publication of several important statistics.In France, growth in services sector activity slowed slightly in May but remains close to the peak of nearly 11 years hit the previous month, final results showed on Friday of the monthly survey from the Markit Purchasing Managers . PMI Segment income $ 62.5 after hitting 62.9 in April, its highest level since September 2000. An initial flash estimate of 62.8 gave the May 23

This same index slowed sharply in Germany last month to 56.1, its lowest level since October against a flash estimate of 54.9 and a figure of 56.8 in April.

Then the United States, the appointment of the day will be the publication of the monthly report on employment from the Labor Department low rates payday advance. Then comes the ISM services.

As for currencies, the euro, which climbed to over $ 1.45 yesterday, continues its recovery. It traded at 1.4482 dollars this morning.Oil prices were also rising in electronic trading in Asia, due to the decline of the dollar, prompting investors to buy commodities. In morning trading, a barrel of light sweet crude for July delivery gained 20 cents to 100.60 dollars. That of Brent North Sea crude for delivery same took 24 cents to 115.78 dollars.

Values ​​to follow

The banking industry is again monitored while the budget plan for Greece and the "troika" will be unveiled. BNP Paribas (+0.78% at 52.82 euros), Societe Generale (0.57% to 40.43 euros), Credit Agricole (+0.48% to 10.40 euros) move.

TF1: -0.32% to 12.39 euros

Media rights to Roland Garros on Europe, formerly held by Eurosport (TF1), will change the diffuser to be allocated to the agency MP & Silva from 2012.

Vivendi: -0.18% to 18.91 euros

SFR announce next week an overhaul of its mobile offerings and partnership with the broadcast site Spotify music on the internet, writes La Tribune. The telecom operator will hold a press conference Tuesday, June 7

Thales: 2.54% to 29.68 euros, Safran: 1.89% to 28.30 euros

Discussions between the two groups regarding an exchange of assets will be using a mediator, Aldo Cardoso, former head of Andersen's consulting firm, said Friday the newspaper Les Echos.

Renault: 0.70 to 38.16 EUR

The manufacturer believes that the shortage of diesel that has weighed on its registrations in the month of May in France will be eliminated in the second half, especially against the backdrop of the expected slowdown of the market, told The Tribune on Commerce Director of the French subsidiary.

It is not just in France that soaring fuel worries. Whether in Beijing or Washington, the great powers anxiously watching the prices soar. United States, the phenomenon begins the popularity of President Obama. In China, leaders tried Saturday to end a protest by truckers of the Port of Shanghai. These last Friday blocked access to the terminal docks Baoshan.

After closed-door negotiations with the local road, the authorities announced on Saturday a "lower standard fees and the abolition of taxes outstanding." The decision was announced by making an effort to reduce "the pressure on carriers 'costs' and mitigate the effects" of rising inflation, is it explained in a statement. No mention of the strike.

Not sure the extent sufficient to satisfy the carriers.According to testimonies collected on the spot Saturday by news agency Reuters, the drivers intended to continue the movement until you see the concrete effects of tax cuts. "It's not that I strike, but what's the point of working if I lose money?" Said one trucker.

Beijing is trying to stifle any rebound media movement. No public statement had been made to this press Saturday and it was broadcast in English. It was only taken up by the official Xinhua News Agency, also in English. Chinese leaders fear that the waltz prices facing the country could trigger a vast movement of popular protest. Despite efforts to cool an overheating economy, inflation has been above expectations in March no fax payday loans. It reached 5.4% on a year to a growth rate of 9.7%, also higher goals of Beijing.

Obama disapproved

Across the Pacific, even dissatisfaction at the pump. In the U.S., the price of fuel has surpassed the symbolic $ 4 a gallon (unit equivalent to about 3.8 liters). The popularity of President Obama suffers. According to a survey New York Times / CBS released this weekend, 57% of Americans disapprove of the economic policy of the host of the White House. They are also 80% believed that the economic situation stagnates or deteriorates.

After a week to defend his choices for the federal budget, Barack Obama was forced to admit Saturday that rising fuel prices for Americans is "a burden when the situation is already difficult." But it does not mean advanced solution in the short term.Changes in gasoline prices more than justifies any investment in green energy, he was merely hammering during his weekly radio address this Saturday: "In the long term, the response. This is the solution to help people who are full and reduce our dependence on oil from abroad. "

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