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French companies in the oil sector are not lining up again in Iraq, yet holds the second proven reserves of oil. In this difficult terrain, Trouvay & Cauvin, strong of a convoluted history of one hundred thirty years, is a pioneer.This small home in Le Havre on Monday announced that it enter the largest oil field in the country.

In the oil industry, Trouvay & Cauvin is what we call an assembler, which delivers the engineering as the French Technip and its foreign competitors parts-pipes and valves, for their major projects free 3-in-1 credit report.

Next quarter, announces Laurent Marie, CEO and principal shareholder of the SME, "we will open a storage site can accommodate 10,000 tons of equipment, and eventually 100,000 tons" for BP, Shell, Exxon Mobil or LUKoil still.

For now, the 60,000 square meters of land in Basra, Iraq's major port on the Persian Gulf, are under-mining. Port infrastructure are still dilapidated, one must import, describes Marie Laurent.

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No change of course. With the crisis, Geox, the brand of shoes and comfortable clothing, has a small air pocket. In the first nine months of the year, profit (63 million) were down almost 13%. Its products that breathe a little less appealing to consumers after two years of slipping revenues (850 million in 2010, -2%).

But Mario Moretti Polegato, president and founder of the Italian group, is convinced he has the magic potion to leave his company the right foot. Its number one priority: grooming claw stores where sales increased when they regress in 10,000 retail outlets distributing multi Geox.

"In the world capitals, we have significant retail space in prestigious places, he says. We already have a flagship store in Paris, Milan and Frankfurt.And we identified locations to open in Beijing and Shanghai. "

Symbol of this evolution: Geox opened three weeks ago a 300 m2 flagship Oxford Street in the heart of London. Outside the cities, the company, which already has a network thus stores (1099 stores worldwide), still wants the flesh: this year it will open 100 new outlets. And in 2012, it plans to add another hundred. In France, where it already has 75 stores, five openings are planned in the coming months. Particularly in Lyon, Toulouse and Marseille.

Cox signed a collection

"Furthermore, we will increase the average size of our stores and to increase from 120 m2 to 180 m2, detailing Mario Moretti Polegato.

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While France, Italy and Germany are found in mini-summit in Strasbourg, Portugal is once again in the viewfinder of the rating agencies. Fitch downgraded one notch Thursday note of Portugal, from BBB-to BB +, together with a negative outlook. This decision made the downgrades of Portuguese debt the Safe investments to that of "rotten" or "risky".

"The deep deficit, high debt of all sectors of the economy and poor prospects for growth mean that the country will benefit more than qualified to hold a note type of investment, '" Fitch said in a statement . Portugal should address, according to projections by the agency, in a deep recession in 2012 with a decline in activity of 3%.

Among the areas of concern, the rating agency notes the debt of public enterprises."They have been the cause of upward revisions of the State debt and deficit figures, said Fitch. In this context, we expect a significant risk that new measures were announced in 2012. "Portuguese banks in turn will require a recapitalization, according to Fitch. They are strongly weakened by the debt crisis in Europe and amenable to private sector (firms and households), the most indebted in Europe, said the agency.

A 2012 budget "balanced"

Fortunately, according to Fitch, the Portuguese government is doing well. "The deficit target of 5.9% will be achieved this year, albeit with exceptional measures" and not reproducible in 2012, the agency notes. The 2012 budget, which targets a deficit of 4.5%, is "well designed," she continues. It contains substantial cuts in spending, including retirement pensions and salaries of civil servants.

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The Asian market fell again on Wednesday. Without the Japanese Nikkei, closed for a holiday dedicated to Labor Day, it is the Chinese stock exchanges set the tone. The Hang Seng drops 1.85% to 17,913 points and the Shanghai Composite loose 0.42% to 2402 points to 6:50.

In their wake, the Korean Kospi unscrews from 2.35% to 1783 points, the S & P Australian 1.98% to 4051 points and the Sensex India 1.56% to 15,815 points.

Chinese Manufacturing PMI worried

The main cause of this new day in the red is the publication of a PMI index of manufacturing activity in China at its lowest for 32 months. A preliminary estimate of the bank HSBC, the index reached 48 in November, against 51 in October (and 50.1 expected by analysts).Or a figure below 50 means contraction.

According to economists at the bank, China, heavily dependent on exports, is beginning to feel the negative effects of economic slowdowns in Europe and the United States. In October, Chinese exports to the European Union fell to 28.74 billion dollars against 31.61 billion in September, while exports to the United States fell to 28.6 billion against $ 30.11 billion in September. To this end, HSBC is lowering the forecast industrial production to 11% or 12% year on year in the months to come (against 13.2% in October). GDP growth has already increased from 10.4% last year to 9.1% in the third quarter of 2011.

The bad news is grafted to the announcement yesterday of a U.S. growth revised down for the third quarter.

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Nearly 5 million viewers in three weeks in France. The film "The Adventures of Tintin: Secret of the Unicorn" by Steven Spielberg a hit. Last week, it was maintained in the second position of the French box office phenomenon behind the "untouchables", with a total of 4,740,885 fans for 850 copies in distribution. This success also benefits comics payday loans with no fax. The adventures of the little reporter created by Hergé snapped up like hotcakes in bookstores. "Our sales have doubled in French in October, about 200,000 albums, 100,000 against an average for a good month," says one by Casterman, the publisher of Tintin history that holds worldwide rights.

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The European Commission on Tuesday launched its third offensive regulatory three years to reduce the power of rating agencies, suspected of fanning the debt crisis. Hardening through the option of civil action for misconduct or neglect, and a tight control of conflicts of interest.

The blunder of Standard & Poor's, mistakenly announcing the loss of the prestigious AAA of France, may have facilitated the political work of Michel Barnier."We need to ensure themselves of the risk we take," says Michel Barnier.

To achieve this, Brussels lists practical steps payday loans in 1 hour. Any investor can sue for damages "for serious misconduct or gross negligence" of a rating agency. A state will have a period of 24 hours to respond to a rating before it is published. Agencies should be transparency in their methodology.

A special chapter is intended to reduce conflicts of interest. It limits cross-ownership between the agencies and their clients. It also introduces the requirement for a borrower to change the agency after three years (or six if two competing uses).

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Indecision on the Paris Bourse. After losing 2.17% below 3100 points yesterday, the CAC 40 opened down sharply, falling more than 2% in early trade. He then did an about face and moves from 0.12% to 3078.02 points, around 10:20.

As on Wall Street and Asian stock markets, doubt seized investors, who are now considering the worst: a contagion of debt in the eurozone. With the center of these concerns, the situation in Italy, including the implementation of austerity measures remains uncertain. The announcement yesterday of the upcoming departure of Italian Prime Minister Silvio Berlusconi has in fact added to the uncertainty, as evidenced by soaring rates of the Italian Treasury ten years by 0.5 percentage points to 7.20%.

Unison concerns of investors, Brussels found the Italian debt situation "very worrying".Ditto for the International Monetary Fund: its director Christine Lagarde said today that "lack of political clarity" in Italy supplied the uncertainties, according to Reuters. Similarly, managers of U.S. Pimco, the largest bond manager in the world, estimated that "6% and 7% interest rate, the country will fail to stabilize its debt, which will become uncontrollable ".

To this distrust Rome, plus doubts about the ability to bounce back from Greece after the Greek Prime Minister George Papandreou announced his resignation Wednesday. It did not cite the name of his successor, who will not be released until Thursday.

Consequence of this climate morose, oil prices were down Thursday, though the announcement on the eve of an unexpected fall in U.S. oil stocks managed to halt the downward trend.

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The G20 summit opened in Cannes on Thursday in an acute crisis. President Nicolas Sarkozy had to leave an extraordinary meeting of the euro area to hold under a rainy sky guests, leaders of 20 leading world economies.

The crisis in the euro area has so encroached on the official program that the French president had to cancel his meeting with Indian Prime Minister Manmohan Sing. French President Barack Obama had previously met face-to-head and seems to have gained the support of the United States for its proposed financial transactions tax.

The political changes in Athens have also punctuated the start of the summit. Returning to Greece after being scolded by Nicolas Sarkozy and Angela Merkel on Wednesday, Prime Minister George Papandreou is facing the sling of his own ministers.

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Why this referendum is it risky?

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