Breaking News, World, U.S., Entertainment …

As demonstrated by these matriochkas high 13 meters, which will adorn the entrance to Grand Palace, the visit of Vladimir Putin, started Thursday night in Paris, sacrifice largely Franco-Russian folklore. It was under the canopies of this symbolic place of French culture that the Prime Minister and his Russian counterpart, Francois Fillon, will open Friday morning a "Russian national exhibition. Previously, the strongman of the country will have breakfast at the Hotel Bristol with Jacques Chirac, then lunch with Nicolas Sarkozy. Fifteen Russian regions, including the turbulent Chechnya will be represented in Paris. A gathering of Russian masters, especially from the aerospace, automotive or pharmacy, will accompany Vladimir Putin.

France, the ninth largest trading partner of Russia

Unlike the two previous visits of Russian leaders in the capital – in November 2009 and March 2010 – no significant agreement should be concluded. In recent months, Moscow and Paris live on their laurels: the future participation of EDF and GDF-Suez in the pipeline South Stream and Nord Stream, the cooperation of the manufacturer Safran construction project of Sukhoi Superjet 100, the Alstom entry in the capital of the manufacturer of trains, Transmashholding. No room for complacency in the face of inroads by Russian companies in Italy and especially Germany.France is the sixth investor in Russia and the ninth largest trading partner countries.

Ads should be reserved for the visit of Nicolas Sarkozy Economic Forum in Saint Petersburg, June 19, in the presence of Dmitry Medvedev: Arianespace is about to purchase Russian rockets, and Martin Bouygues person would enter the Board Skolkovo, a project of Sophia-Antipolis in Russian, which arouses the skepticism of business.

Negotiations on the Mistral

The future of bilateral economic relations is first suspended negotiations started for the purchase by the Russian navy, a helicopter carrier Mistral. Russia, which is counting on France to help modernize its economy, relies on the expertise of the hexagon.

But Paris is reluctant to give Moscow a part of the military technology of this building.It would, however, a "good deal for the French manufacturer," says Vladimir Putin. "A helicopter-carrier as it cost around 300 million euros," added the Prime Minister who wants to buy a copy and duplicating the other three shipyards in the country. The Franco-Russian friendship has its limits.

ALSO READ:

"The Mistral Russian" lifeline for Saint-Nazaire

"EDF would take 20% of the South Stream pipeline

Filed under: Uncategorized, economics, features, online, opinions by admin Comments Off

The soap opera twists rescue Opel has caused a new skirmish in the German government between the Liberal Democrats and Conservatives. On Wednesday evening, the conservative chancellor, Angela Merkel, had repudiated his Liberal minister of Economy, Rainer Brüderl, which had ruled against the granting of state aid to troubled German manufacturer. On Thursday, after a meeting at the chancery, the four host plants Opel Länder have pledged to help the manufacturer.

"The four prime ministers have decided to make available to the company for discussions," said the boss of North Rhine-Westphalia, Jürgen Rüttgers, after the meeting. Rüttgers refused to discuss figures.However, the states concerned should increase the amount of their participation in the recovery plan of Opel to save jobs related to les sites of production established on their territory.

Public support of 1.1 billion euros, denied Wednesday Brüderl, should be financed by up to 46% by the federal government, followed by Hesse (29.19%), the North-Rhine- Westphalia (7.11%), Rhineland-Palatinate (5.61%) and Thuringia (2.47%). The Board of Opel has warned that without public support, the parent company, General Motors could eliminate more jobs in Germany as the 4000 dismissal under the current restructuring plan.

Consolidation of the range

Opel employs approximately 25,000 employees in Germany. The factories in Bochum, Eisenach and Kaiserslautern are threatened with closure teletrek No payday advance.Only the maintenance of the center of research and development of Rüsselsheim is guaranteed.

Brüderl had justified its rejection of the application for public assistance from General Motors for its European subsidiary in finding that GM had enough funds to help recover Opel. He made his decision after a meeting of a committee that could not reach a common position after reviewing the request for assistance. GM plans to spend 1.9 billion euros to boost Opel, currently in deficit. The restructuring program includes a 20% capacity of Opel and an overhaul of the range by 2014.

The Liberals had reluctantly accepted, on weekends, a package of measures to save 80 billion euros by 2014 in the federal budget.By refusing the assistance of 1.1 billion, which would have preferred, he said, a builder on the other, the minister wanted to show that liberal ideas were not dead.

However, Angela Merkel warned that Berlin had "not heard the last word in the file Opel" thereby alienating Brüderl, who also refused to grant guarantees for loans to Opel in Europe. The Chancellor, who seeks to preserve its image as a protective mother of the nation, convened on Thursday, meeting with government leaders of regional states concerned to encourage them to increase their participation to fill the hole left after the withdrawal of funds Federal.

Filed under: business, economic, economics, features, publications by admin Comments Off

The Swiss parliament on Tuesday rejected the agreement for transmission to the United States of thousands of names of UBS clients suspected of tax evasion. Signed in August 2009 between Berne and Washington, the agreement had been challenged in January by the Swiss courts. Members of the National Council (lower house) spoke to 104 vote against the request for information from U.S. on a 4450 American clients suspected of having escaped from their taxes.

Several parliamentarians have yet tried to defend the agreement, citing the urgency of closing a thorny issue for the Swiss government and UBS. "With the uncertainty of a referendum, we extend a risky situation (and) put at risk cooperation with one of the most important economic partners" of Switzerland, the United States, has launched Hans Grunder (bourgeois Democratic Party Swiss center-right).

The Justice Minister Eveline Widmer-Schlumpf for his part called in vain to "close this painful chapter and resolve problems" of the Swiss financial center. The 76 votes cast in favor of the agreement have not made the weight. And because of disagreement between members, the document must pass before the Council of States (upper house) for a new vote. it should be held on Wednesday, the summer session ending June 18

Referendum

Elected officials have also decided to submit the agreement to hold a referendum. Under Swiss law, any citizen may indeed ask, if it meets 50,000 signatures in 100 days, the holding of a referendum on a bill. The people having the last word, any outcome of the vote is final and binding.

A delay or a final refusal, Bern that UBS could put as much in a difficult situation.it might first be seriously tarnished relations between Switzerland and the United States. For the first Swiss bank, a final rejection would be more harmful because it might again confront the prosecution in the United States, while still recovering from losses sustained during the astronomical financial crisis.

ALSO READ:

"UBS vote on the transfer of data

"UBS: U.S. data

"UBS fails to reassure customers

Filed under: business, economic, economy, people, special by admin Comments Off

The new head of British diplomacy began Sunday evening in Paris on a tour that continues this week in Rome, Berlin and Warsaw. He gave his first interview with Le Figaro in the European press.

LE FIGARO. Largely eurosceptic Conservative Party, to which you belong, has concluded a coalition agreement with the Liberal Democrats, favor, they, to a rapprochement with the EU. What will your European policy?

William HAGUE. This is good news for the EU that we have heard over five years with our coalition partners. This was not the tradition in Britain to have a fixed maturity term of office. The next general elections will be held in May 2015. For our European partners in particular, that political stability should be a good omen.With the Liberal Democrats, it was not difficult to determine what our European policy: this is further good news for the EU, because we will be predictable. The course is set for the next five years: we intend to be extremely active in European affairs so that the EU can collectively weigh in the world. We will also be very active to help European economies to recover growth, create new jobs and new businesses. We'll be tough negotiators, but is not that we should expect from any government?

The economic crisis, financial, monetary and across Europe requires its members to further cooperation. How far will you go on the path of solidarity?

We do not belong to the euro area and we do not rejoin, as stipulated in the coalition agreement.Neither partner will do the same proposal, as long as this agreement. But as David Cameron has said a euro zone healthy is in our interest. We do not want to be part but we hope it contributes to the financial stability of Europe. It is very important to us. Regarding the financial support that Britain could make to the euro area, our position coincides with that of the government of Gordon Brown. Our country faces the heaviest budget deficit in history (aside from the period of world wars) and the priority task is to reduce the deficit to a level where it can be controlled.We are not able to provide other financial guarantees.

So you exclude from participation in a support fund for countries of the euro area in trouble?

The government that preceded us had agreed to participate in one of these funds a few weeks ago. We will assume our responsibilities in fulfilling this agreement. But we will not be dragged further into the euro area. This is not what the British want from their government. It will not offer more than what has already been proposed.

Do you negotiate opt-outs with the EU?

We will discuss with our partners in government. As indicated in the coalition agreement, we want to limit the application of the directive on working time, which we consider too restrictive in Great Britain.We also wish to pass a law requiring a referendum if a future government would go further transfers of sovereignty to the EU. There was a lot of institutional changes in Europe and debate. We must now ensure that the institutions function, can improve economic performance, extending the single market and cooperation in foreign policy. Let us focus on concrete achievements rather than engaging in a new institutional debate.

A bounce or a deepening of the crisis could lead to more regulation. How would you react?

We certainly need to improve how we regulate the banking and financial services. But further regulate the labor market and the business would be in the wrong direction. This is the traditional view of the British.The crisis has again highlighted. We say: Great Britain is open for business. Our next budget in two weeks, will reaffirm the years to come. We hope that our European partners adopt a similar approach.

The EU's foreign policy is lacking, according to you, "determination and consistency." What will you offer?

The situation in Gaza shows that Europeans must contribute to the relaunching of a peace process. All solutions to ensure the delivery of aid to Gaza and trade require a form of international assistance and there is a role for the EU. European nations, when they speak together, can have a particular impact. That the Israeli government to decide whether to accept the fact-finding mission to which France and Great Britain are favorable.In a situation like this, we must unite our capabilities. It is also the case for Iran. We work closely with France to allow the adoption of new UN sanctions. We also want to discuss additional EU measures. Again, the Union can demonstrate its collective weight.

Are there still you think a "special relationship" between Britain and the United States?

Yes, this special relationship exists. I called the alliance indivisible. It is expressed through a wide range of cooperation (diplomatic, military, nuclear, intelligence, economics …). Great Britain and the United States is still the largest investor in the partner. But it is not for us to choose from competing in Europe or France. Both relations, transatlantic and European natural fit.

Afghanistan is a priority.Can you do better than the government of Gordon Brown?

We need a viable political process at the same time that military progress in the field. Of course, it's difficult, but we must remain faithful friends. We will remain strongly committed to Afghanistan. The worst would be to leave an uncertainty reflected in our action. This would only strengthen those who do not want a future of peace. The question is not whether we will continue to make our contribution but how we will.

With France, cooperation in defense looks promising?

We already talked with our counterparts in French when we were in opposition. It is still too early to make announcements: the review of our strategic policy and defense completed in the fall. But we are very open to new ideas and a closer cooperation.David Cameron and Nicolas Sarkozy have already established between them a great working atmosphere. We have many things to do together to ensure the growth of our economies, develop civil nuclear power or act in the field of immigration. The fact that the Prime Minister and I have chosen to perform in France our first bilateral visit abroad shows the enormous importance that we attach to these relationships.

ALSO READ:

"Cameron's first trip to Paris

"The Eurosceptic Cameron Will he attempt by Europe?

"Paris-London: the puzzle of a common defense

"Paris ready to accommodate a Eurosceptic London

Filed under: business, events, international, online, resources by admin Comments Off

The U.S. equity market, which opened on a negative note on Friday, steadily widening their losses throughout the session. Around 9:00 p.m., the Dow Jones moving down 2.7% to 9977 points, below 10,000 points. The Nasdaq fell 3.36% to 2226 points and the S & P by 3.27% to 1067 points.

Investors morale in the socks while the euro hit a new low since March 2006, more than four years. The euro fell below U.S. $ 1.2 on Friday night.

On Thursday, after a meeting very nervous, Wall Street has ended on a modest increase. But this Friday, the employment numbers came out worse than expected.The U.S. economy created 431,000 more jobs than it destroyed in May, said the monthly report on employment in the department, but analysts had expected a figure much better, however, since they felt that half million net new jobs were created in May, according to their median forecast.

Yesterday, the firm always announces that EPA's own figures with a time ahead of the official statistics said that the private sector fielded in May its fourth consecutive month of net job creation (55 000).To most observers the Labor Department figures should be much higher because they include the public sector has likely hired hundreds of thousands of people to the decennial census cheap pay day loans.

Fall of oil

Euro and weak U.S. indicators are worse than expected, the oil could only suffer.

The price of black gold fell on Friday in New York at the close, the price dropping more than $ 3.A barrel of light sweet crude for July delivery finished at 71.51 dollars (-4%).

Pfizer and Dell in the crosshairs

On the side of values, Pfizer Pharmaceutical Group (-1.92% to 14.94 U.S. dollars) has recalled about 400,000 units of intravenous drugs made by Indian generic group Claris and distributes it to the U.S. following a reminder from the FDA, the American drug agency.

Always on the side of values, the rating agency Standard and Poor's estimated at three years the time required for refinancing mortgage agencies Fannie Mae American (1%) and Freddie Mac to lock the bad loans they own or guarantee.For S & P, the problems are concentrated on housing loans contracted in 2006 and 2007, at a time when interest rates and purchase prices were much higher than today.

Also note, the president and founder of Dell (-2.8% to 13.4 dollars), Michael Dell, has revealed he planned to withdraw from the Stock Exchange the company he founded.

Filed under: economics, economy, money, online, special by admin Comments Off

This is an unprecedented initiative in the world. For the first time, a local authority, Ile-de-France, will require full transparency of banks and other financial institutions with whom she wants to work, and this in the context of the fight against tax havens. More specifically, the regional council asked each year to its financial partners an overview of their activities and their relationship with the 18 non-cooperative states listed by the government. So far, only the city of Helsinki had thought about such an initiative without ever materialize.This election promise, launched by Europe Ecologie then taken up by the regional president Jean-Paul Huchon, was confirmed Wednesday, and will vote at the next plenary session of June 17

The resolution provides that before proceeding with financial institutions to borrow money or to arrange a bond issue, the Regional Council will ask them to clarify their relationships with states that refuse to sign agreements of transparency and exchange of information.The first Vice-President of the Regional Council of Marie-Pierre Gontrie (SP) said that "if some banks are choosing to continue their activities in these countries, these items are taken into account in our decision," No fax pay day loans .

The idea could swarm

The regional council "will reserve the right to modify and extend this mechanism, each year, given a report monitoring its application," explains Cecile Duflot, President of European Group Ecology and Robert Leo, new regional adviser Greens -EE and former CEO of Caisse des Depots et Consignations."These elements constitute a criterion for the decision to continue or begin to use the services of these banks," they said.

During the campaign, regional, Cecile Duflot was particularly criticized for BNP Paribas' main lender of the regional council ", to" work in many tax havens like the Cayman Islands, Jersey and Guernsey and Hong Kong. "

This innovative device could make small: other regions have expressed interest as the Champagne-Ardenne, Provence-Alpes-Cote d'Azur or the Midi-Pyrénées.

ALSO READ:

"Tax havens: OECD new offensive

Filed under: business, features, life, people, publications by admin Comments Off

Brussels is preparing to put his nose in one of the most sensational divorce industry on the European scene: the Barroso Commission is preparing to announce in the next few days the launch of an accelerated procedure against the French Areva and the Siemens of Germany for infringement of competition law, according to European sources well placed.

In this case, it is the folder Areva NP, the ex-Framatome, owned 35% by Siemens and 65% by Areva. The German group announced in early 2008 its decision to exit the venture, after several years of fruitful cooperation.

Areva has taken note of this decision but said that Siemens was unable to compete with it for several years because of an agreement signed between both parties. And it is this clause that Siemens is trying to quash the Commission.A clause also crucial for the French group that tries to turn the cash in order to lower the purchase price of 35%.

Addressing what looks like a cartel, while the separation between the two European giants of nuclear consumed is therefore paradoxical only in appearance. Siemens, unable to compete with its former French partner by one of the clauses of the marriage contract of 2001, seeks in effect to part of a last thread to the leg. Moreover, the German group discreetly that he looks forward to the debut of the Commission.

The shareholders agreement signed in honeymoon Franco-German, January 30, 2001, has never been made public.The clause that is now the competition commissioner, Joaquin Almunia, evoked precisely the scenario of a separation for at least eight years after the divorce, it prohibits Siemens rival Areva to come on the market for nuclear reactors, according to one of the parties in conflict.

Partnership with Rosatom

The decision by Joaquin Almunia opens investigation against "violations" of sections 101 and 102 of the Treaty of Lisbon by Areva SA, Siemens AG and their subsidiary Areva NP. The procedure "does not mean that there are strict proof" of infringement of competition law, but simply that the case will be handled on a priority basis, according to the draft obtained by Le Figaro.

The non-competition, held by Areva and Siemens today denounced, no objection was raised in 2001 during the passage of the shareholders before the European authorities.Has it been so deliberately ignored? Or added a posteriori? In any case, it returns to haunt the two partners.

And because it prohibits the German group to realize its nuclear partnership with the Russian company Rosatom. Siemens announced March 3 – with the blessing of Vladimir Putin – the signing of a Memorandum of Understanding for a joint venture with the public group. It is developing the technology Russian pressurized water reactors. This alliance has created a noisy side reaction of Areva, which has denounced "a unilateral breach of contractual obligations" by the German group.

Beyond the bitterness born of a failed marriage, is a cut-throat competition looming on one of the most lucrative markets for decades to come: that of civilian nuclear reactors, each of the two firms in tens of units.Unless he can get Brussels to outright cancellation of the disputed clause, Siemens would like to see at least his initial handicap reduced by several years.

That complex is more of a rebound near. While Siemens sentence actually formalized its alliance with Rosatom – the German press has recently indicated that there would be no breakthrough until 2011 – and rumors have circulated about a possible return behind the German group. So a partnership with Areva reactivated.But recent developments in Brussels show that this scheme will be hard to reappear.

ALSO READ:

"Areva-Siemens accepted in Slovakia

"Areva and Siemens are struggling to divorce

More than 2 billion euros

How is the participation of Siemens in Areva NP? Estimates are circulating that the French group will put on the table between two billion and 2.5 billion euros. To agree on the amount of the transaction, both groups have appointed an independent expert. No timetable has been set officially, but the findings should be made before the end of 2010. Meanwhile, Areva has singularly need to restore its financial leeway.

For the period 2008-2012, Miss nuclear group has estimated its investment needs about 6.5 billion euros.While a capital increase is planned – up to 15%, through three foreign partners – but the government delayed giving the green light.

Filed under: features, life, news, resources, technology by admin Comments Off