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The mood remains gloomy in the Paris Stock Exchange on Thursday. In the wake of a meeting which saw the CAC 40abandonner 1.49%, morale remains low. At the opening, the Paris index lost another 0.83% to 3775.38 points, its lowest level since January. The LSE has also opened lower, the FTSE-100 index losing 0.74% to 5700.08 points. The Dax in Frankfurt following the movement with a decline of 0.74% to 7062.18 points.

This bad mood, which led to Wall Street and Asian markets this morning in the dark wheel is mainly due to Greece. Indeed, the financial and political situation of the country bogged down. The extraordinary meeting of finance ministers ended in failure Thursday, Europeans who are unable to agree on the role of private creditors in the new relief measures.Meanwhile, violent demonstrations took place before the parliament of the country, forcing the Prime Minister George Papandreou has announced a reshuffle of his government to be held this Thursday, when he called for a vote of confidence in parliament.

Concern has also been strengthened by the publication in the U.S., macroeconomic statistics disappointing. The U.S. recovery has yet shown signs of weakness yesterday, especially in the industry.

Program loaded overseas

This Thursday, in addition to Greece, the eyes are again turned to the United States.The schedule of publications of indicators is still in effect with the American program: the current account of the first quarter, weekly jobless claims, housing starts for new homes and the index of manufacturing activity in the Philadelphia area.

On the currency side, the Greek situation causes the euro down. The euro lost 0.52% to 1.4117 dollars in morning trading. Yesterday in the evening in Paris, the European single currency was worth 1.4180 dollars against 1.4440 dollars late Tuesday. Meanwhile, oil prices rebounded due to bargain hunting. A barrel of light sweet crude for July delivery gained 48 cents to 95.29 dollars while that of Brent North Sea crude for delivery same progressed from 99 cents to 114 dollars.Investors buy oil after the sharp decline yesterday, which saw prices go below $ 95 a barrel.

Values ​​to follow

Areva, Eramet

Luke Oursel, deputy CEO of Areva, is the favorite to replace Anne Lauvergeon head of French nuclear specialist, reports the newspaper La Tribune. In addition, the group has extended for six months its shareholders in companies with Eramet Sorame and CEIR representing the shareholders of the family Duvan.

Sanofi

The group announced Thursday the signing of a research collaboration of two years with the Dutch biotechnology company Audion Therapeutics for development of potential treatments for hearing loss.

EADS

The low cost carrier Philippine Cebu Air said Thursday it had concluded a $ 3.8 billion with Airbus for an order for 30 A321s and seven A320s.

Renault

The Renault-Nissan is about to take control of Russian automaker AvtoVAZ, an acquisition that would propel the world's third largest, said Thursday the Japanese newspaper Nikkei.

L'Oreal

The businessman Stephane Courbit explained in a letter to Liliane Bettencourt why he wants to break the financial partnership that had just concluded the boss Lov group and the heir to L'Oreal.

Total

The tanker has completed its friendly takeover bid of about $ 1.3 billion U.S. dollars on SunPower, a majority of shareholders of the company specialized in solar panels have agreed to tender their shares.

Eurosic

Batipart, family holding company specializing in real estate, will launch a takeover bid for Eurosic in the coming weeks after the sale and Nexity Bank Palatine of all of their shares in the specialist real estate office.

Vivendi

Between September and the summer of 2012, SFR will resume rays telephone 80 Fnac stores in France.

France Telecom

The operator announced Wednesday it had issued 670 million euros maturing 2019 and 2021.

Perno Ricard

The group announced Wednesday that its board had decided to pay an interim dividend of 67 cents per share.

After market, Zodiac Aerospace Announce Revenues for the third quarter.

"QUIZ Estimate the Cac 40 in late June

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A regular player of poker, whether online or at competitions, he must declare his earnings in taxes? For tax officials, the answer is yes. Especially if it draws most of its revenue. "Even if the amounts are variable, since the gains are regular, it is a professional income subject to the payment of income tax," said an officer in the columns of Le Parisien on Sunday.

Since the legalization of online gambling in France, the number of poker has exploded. They are nearly three million followers. But the IRS is more specifically the big players, they believe capable of winning hundreds of thousands of dollars over the year. The latter could then see their earnings taxed at 40%. Players who would venture on illegal sites should have to pay penalties.According to an industry professional, yet only a few hundred players in France are concerned low rates payday advance.

"The administration is bluffing"

While the controversy swelled, some lawyers try to calm the game "The administration is bluffing by some interpretation of tax legislation, including that concerning the management of revenues, says the daily tax lawyer Eric Haber. According to him, the case law is for poker players because it reaffirms that it is a game of chance and that the sums received are tax exempt.

Aware of this legal aspect, the IRS would try now bargaining with the players concerned: they are choosing to pay a tax, they are engaging with the administration in a long legal process.

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The latest Forbes had clearly left the show: there are more billionaires in emerging markets. Only the United States harbored far more than 100 large fortunes, we must now add China (115) and Russia (101). The crisis has clearly benefited the BRIC (Brazil, Russia, India and China) to the detriment of developed countries whose economies have shrunk.

As a result, the profile of billionaires in the world has changed significantly: younger, they are more autonomous and therefore did not inherit their wealth, according to a study published by Forbes Insights collaboration with Societe Generale Private Banking. "The great fortunes of emerging markets often come to settle so that their activity and global influence will continue for probably a decade or two longer," said Christiaan Rizy, director of Forbes Insights.They are also more involved in their companies than their European counterparts, the more eager to sell their companies once they have succeeded.

Capital Protection

Nevertheless, these billionaires, whether young or older, European, American or Asian, have all been affected by the crisis. And it feels like on investment strategy. "They are prudent in managing their assets but seek to boost their performance with" pockets "(parts of the portfolio of securities, Ed) as the most dynamic emerging markets. They position themselves more in order to protect their capital to take real risks with their personal wealth, "said Patrick Folléa, director of SG Private Banking France.

Although probably lower this year than in 2010, growth rates of emerging countries should remain higher than those of Europe and the United States in 2011. "And the difference in volatility between emerging and developed countries seem to fade," says Kim March, economist at Societe Generale Private Banking. It now remains that these billionaires will also better manage the increasing levels of inflation in China, India, Russia and Brazil.

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Doubts seize the oil markets this weekend. On the New York Mercantile Exchange (Nymex), the price of a barrel of light sweet crude for June delivery broke down the psychological barrier of $ 100 on Thursday. He confirmed his decline at the close on Friday. After a session of ups and downs, it closed at 97.18 dollars.

On the whole week, the barrel has lost 14.7%. This is the largest decline in weekly percentage terms since the week 19 December 2008 when prices fell by 26.8%.Prices had not changed at these levels since March 16, when the uprisings in the Arab world and worry about the nuclear crisis in Japan had made prices soar.

The downward trend is the same on the Intercontinental Exchange in London where a barrel of Brent North Sea crude for June delivery traded at 108.42 dollars, down 2.38 dollars compared to Thursday. These days, the decline was due to analysts' pessimism about the future numbers of jobs overseas.

Surprise contradictory indicators, the U.S. economy created more jobs than expected in April (244,000). Nevertheless, a barrel continued to decline in early trading, before settling at around 99.45 dollars in mid jouréne in New York.Job creation does not erase the bad macroeconomic indicators released in recent days, suggesting that the recovery remains fragile.

On Thursday, investors are learning that new jobless claims in the United States increased sharply during the last week of April, 474,000 applications for allocations, while economists were expecting a decline. The day before, the numbers of firm ADP showed that job creation in the private sector in the United States slowed in April, well below forecasts of economists.

These announcements point to a decline in oil demand in a context of high oil prices. In addition, a continued rise in U.S. oil inventories, which should have been starting to fall a few months of the summer of large displacements.

In this context, the sharp rise in the dollar makes things worse.Thursday disappointed by the decision of the ECB not to raise interest rates next month, traders got rid of their euros. Result: the single currency, which was worth $ 1.49 yesterday, falling almost 2% to 1.4547 dollar. A situation which penalizes the purchase of dollar-denominated crude and thus rendered less attractive.

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Surfing the good performance of its JT 20 hours, and conjure the poor performance of its "prime time". On this puzzle board for several weeks France 2. In the head of France Televisions group of strategists like Bertrand Mosca (the deputy director for programs), or Emma Guilbart (Deputy Director for Programs), the idea of ​​mixing in a single program time slot of 19 hours 20 hours 30 is gone far enough. However, the project is not yet mature enough for the start of 2011.

However, the chain does not refine the draft for September 2012, after the presidential election. The project draws heavily on the model of Canal + and its "Grand Journal", installed several years.Original concept in France, it is more usual in the Anglo-Saxon fond of this mix between information and entertainment, in other words, professional jargon, "infotainment". The "Grand Journal" shows at least an average audience share of 6.9% with peaks up to 14% as on March 25 and works miracles on the target of AB +, the fact that the leaves more seduced by JT France 2.

Invent other appointments

If France 2 JT is resistant to the fragmentation of audiences, however, its slice of prime-time suffers and is only 12% audience share, significantly below the average of the chain oscillates around 15%. For its part, the newscast is led by David Pujadas stable from year to year, with 20% audience share.

One of the weekend hosted by Lawrence Delahousse attracts more viewers between the first quarter since 2010 and that of 2011, they rose from 4.8 to 5.3 million. A feat for a historical chain. 2 France intends to surf the large image regilded clearinghouse cash till payday. But the group also made this observation: the consumption of information is changing. The offer of helping DTT, viewers are used to consume the news continuously on free channels like BFMTV or i-Tele. This means that the time of High Mass will be gone one day and he must invent other appointments.

A tricky business

But the leaders of France Televisions, the matter is delicate. Chairman, Remy Pflimlin intends to preserve the hearing of the "19/20" on France 3, a strength of a chain fall.Time, the possibility of reversing the brackets national and regional information was discussed. But not retained. Moreover, it is not certain that advertising terms, divest itself of the household under 50 years to be interested only in the target smaller senior is a good deal. In addition, the project has stumbled on the name of the presenter: Should we extend the empire of David Pujadas or encouraging the development of Laurent Delahousse? The sounds on the latter's departure for TF1 would have served and contributed to freeze the record. Finally, all this is the fact that France 2 has become the standard for information and even as regards the political debate. The chain is trying to preempt an image that previously clung instead to TF1, "says a boss of a competing network.One year after the presidential elections, France Televisions would rather not take chances.

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The classification of most ethical companies by Ethisphere done sulking French companies. As every year since 2007, the American Institute has selected a hundred multinationals under their ethical commitment. A multitude of criteria, such as good governance, environmental impact, philanthropic investment, transparency, or the existence or non-infringement litigation or regulations have been reviewed by the institute. Ethisphere does not keep track record, but this simply by sector companies the most virtuous of the year.

This year, the Anglo-Saxon carve the lion's share. eBay, Accenture, General Electric, American Express, Caterpillar, Starbucks Coffee, Manpower, or Cisco Systems are among the elected. Microsoft is entering this year ranked, among others through philanthropic programs implemented its last years.None of its major competitors, like Apple or Google, have instead been selected.

Over a hundred companies selected, only two French take their game: the industrial group Schneider Electric and the property management company Unibail Rodamco. They replace the two hex distinguished companies in 2010, L'Oreal, which suffers from the case Bettencourt – and Sodexo.

Ethical companies outperform

At Schneider Electric, we consider that this distinction is the result of a policy for five years no fax pay day loans."We have developed a document that serious black and white group responsibility towards its stakeholders: employees, customers, suppliers, shareholders, competitors … For example, employees do not go at discriminate, encourage dialogue, to behave with respect in business relationships, participate in local sites where the company has … "says Gilles Vermot Desroches, Director of Sustainable Development at Schneider Electric.

A document is not intended to remain a dead letter. "In late 2010, an internal audit was conducted to verify that everyone was well aware of these principles. And now, for they are well rooted in the mentality, all of our employment contracts mention them, "says Gilles Vermot Desroches.

The inclusion of such principles is not an ethical impact.Comparing the average performance of selected companies since 2007 to that of companies in the S & P 500 Index, notes that the first Ethisphere outperformed by nearly 35 points. While the results from those of the S & P 500 rose on average by 9% since 2007, the panel of companies chosen by Ethisphere has won nearly 45%. "This proves that those who think that dealing with the ethical principles relates have it all wrong," says Gilles Vermot Desroches.

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Olympique Lyonnais (OL) could have done this "title" (if one can speak of "title"). Anyway, this is not what the president OL Jean-Michel Aulas was hoping for his team. With a deficit of 35.1 million euros for the 2009-2010 season, according to figures released by the National Monitoring Directorate and Management (DNCG), Lyon displays the largest loss in Ligue 1. And despite a semifinal of the Champions League and a second place finish in the French league. These 35 million represent the total amounts of Karim Benzema transfer to Real Madrid …

Anyway, while the club prepares to break ground a brand-new stadium and Constable of football, the DNCG, prepares to strengthen its monitoring of financial accounts of the Ligue 1 clubs, the loss n is not the most beautiful effect.Especially when we know that Lyon is supposed to be a model for financial management, in the words of its president.

The facts are clear: two consecutive years without a title sponsor (BetClick) prohibits the display of last season (the Act paris sport in France has not yet been passed) and periods where the sums of the transfer window shipments have surged (around 80 million euros invested in 2009-2010, including 22 million euros for the Yoann Gourcuff, "little fun" by Jean-Michel Aulas). And here Olympique Lyonnais ugly duckling in Ligue 1 on the economic front. After pranced ahead in 2008-2009 with a profit of 5.3 million."The equity (130.8 million euros in 2009-2010 for Lyon, Ed) are the most important," claims the president of the OL.

Lyon PSG +: 57 million loss in 2009-2010

If the loss posted by Lyon is surprising, that of Paris Saint-Germain was more expected. The capital club lost 21.9 million euros in 2009-2010. Since 1998, PSG has accumulated 306 million deficit, nearly 25 million loss a year! Over three quarters of this amount was offset by the former shareholder of the club, Canal +, the rest by its successor, the investment fund Colony Capital. Together, Lyon and PSG account for about half the deficit of the Ligue 1 (115 million).

Conversely, the former champion of France Marseille came close to achieving a balance with a loss of 0.4 million euros in 2009-2010.Bordeaux and its predecessor, despite the second half of the season missed, serves very good student with a profit of 2.2 million euros. The club Girondins second only a few hundred million euros … Lorient and its 2.8 million profit. Montpellier (400,000 euros of profit) completed the podium. Note that the most profitable clubs are those whose share of payroll in the budget is the lowest. And the reverse is also true. A meditation for the leaders of French clubs, while the establishment of financial fair play is approaching slowly but surely …

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They are essential to the operation of computers, cell phones, tablet PCs or even cars and many household appliances. The semiconductor industry is the subject of much concern since the earthquake and tsunami that devastated Japan. The country provides its own 1/5th of world production, 40% of flash memory on the planet. The flash memory can retain data stored over a long period (several years) without being powered by electricity instead of computer memories (RAM) for example.Cheaper to produce than the RAM, energy efficient, compact flash memory replacing hard drives often for devices requiring a small storage space.

According to iSuppli research institute, the components affected by the disaster include NAND flash memory, DRAM, microcontrollers, LCD displays LCD and LCD components and materials.

In dozens of factories in Japan, production is stopped. Toshiba, which supplies a third of NAND flash memories in the world, announced it has cut the current in all its production plants, thus cooperating with the Tokyo Electric Power Company (TEPCO), which seeks to regulate energy demand. Only the group's headquarters and essential services to its business are always supplied with electricity.In addition, Toshiba semiconductor plant in Iwate in northern Iraq, remains closed without the group is able to predict a date for reopening.

The eight plants Sony have also ceased trading. For its part, Texas Instruments said Monday that production was suspended two of its factories and it would not find their level before the month of July. The group is, however, managed to redirect 60% of its production to other sites.

Transport destroyed

Most is the damage inflicted on the country's infrastructure that threatens the chain of production of semiconductors."While some real damage in the factories producing electronic equipment were reported, the impact [the earthquake] on transport infrastructure and energy will lead to disruptions in the supply chain," iSuppli analysis.

Even when the plants suffered little damage, difficulties accumulate to ship production by sea to source raw materials or even for the workers to go to their workplace. The Japanese government has warned that the closure or destruction of ports, airports and roads would have a "significant" on the country's economic activity.Manufacturers whose factories have been spared by the earthquake suffered power cuts that slow their activity, according to iSuppli, is notably the case of producing components for Panasonic LCDs.

Furthermore, Japan provides over 60% of the silicone used to manufacture semiconductor chips, said iSuppli. If the chain of supply of this substance is also disrupted by damage to the country's infrastructure, other semi-conductors could see production threatened as bipolar transistors and small signal.

A shortage of parts or components is expected, "which could raise prices or to delay production of our favorite gadgets, Engadget Cares, specializing in new technologies.

Two weeks stock

But the supply of semi-conductors should not miss before the end of the month: "The global supply chain has about two weeks stock of semiconductor components affected by the earthquake," said iSuppli. This is the case, for example, the South Korean manufacturer Hynix memory chips and Taiwanese Wintek, which manufactures the module iPad Touch 2. This does not prevent the two companies begin to seek other suppliers in South Korea or China.

The shortage has not be good news, prices have already begun to soar following the announcement of the stoppage of the plant in Iwate Toshiba, the price of 32-gigabit NAND has jumped 20% Monday and another 3% on Tuesday.DRAM, for their shares jumped 7% on Monday.

Meanwhile, the Japanese government tries to reassure investors: the Japanese Minister of Finance Yoshihiko Noda said that the markets fell in response to "transitory factors". "The production and economic power of Japan are not on the ground," said his side Economy Minister Kaoru Yosano.

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The CAC 40, which won in the 4000 points on Monday night, amid record oil prices and gasoline, is struggling to return to the 4000 points on Tuesday: the index gained 0.64% to 4015, 91 points. The DAX index of the Frankfurt Stock Exchange is 0.04% to 7164.75 points while the FTSE in London is 0.02% over the closing Monday at 5,931.28 points.

Last night, Wall Street has yet suffered during the black gold but this morning, Asian stock markets have evolved around the equilibrium. Tensions in the oil market will settle down when in fact that Nigeria, Kuwait and the UAE will increase their oil production by April to offset higher prices that now exists as Libya comes into civil war with an additional 300,000 barrels per day, according to the Financial Times.This morning, oil prices dropping a bit of ground: a barrel of light sweet crude for April delivery yielded 1.41% to 103.95 dollars and that of Brent North Sea fell by 1.16% to 113.71 dollars.

French growth of 0.8% in first quarter

Side macroeconomic figures on Tuesday to watch: Bank of France said Tuesday forecast growth of 0.8% of gross domestic product (GDP) of France in the first quarter of this year in its monthly business survey. The survey on business climate shows a continued growth of industrial activity in February, but at a slower pace than in January, the indicator remained stable 110.The business climate indicator in services has increased in parallel from one point to 102.

Moreover, the trade deficit widened from France in January, to 5.89 billion euros against 5.60 billion the previous month, seasonally adjusted data, the Customs said Tuesday.

No statistics are expected this afternoon from the United States.

On the foreign exchange market, the euro lost it again a little ground against the dollar on Tuesday as investors reaping some profits after a record four months veille guaranteed unsecured personal loan.En early afternoon in Paris, the euro was worth 1, 3877 dollars against 1.3971 late Monday.

Scor: net profit up 13%

At the Paris Stock Exchange on Tuesday morning, Michelin took the top ranking (2.51% to 59.19 euros) the Cac 40, followed by Axa (+2.49%).Red side, Alcatel Lucent was down 2.72% on profit taking as well as Capgemini 0.62% and 0.53% of GDF Suez.

The SBF, Scor (-1.69% to 21.43 euros) also suffers profit taking. The reinsurer recorded in 2010 net profit up 13% to 418.0 million euros, above expectations, thanks to a surge in financial products, according to a statement released Tuesday. It is also in talks to buy the U.S. Transamerica Reinsurance, a subsidiary of its Dutch rival Aegon, reports Bloomberg.

Air France-KLM (+0.34% to 11.64 euros) reported on Tuesday morning traffic on a February increase of 4.9% capacity increase of 5.1% annual rate . This brings "a quasi-stable load factor to 77.6%," says the airline in a statement.Passenger numbers rose 5.7% to 58.1 million.

Side values, the oil services group Technip (+0.52% at 71.09 euros) has signed a contract worth around 45 million euros for the Gjoa Field Development in the Norwegian North Sea, he said Tuesday in a statement.

LVMH (+0.75% to 113.80 euros). Bernard Arnault, CEO of LVMH, said that the purchase of Bulgari and the agreement with family shareholders of the Italian jeweler might show interest in the Hermes family of a rapprochement with his band.

To be continued this evening, after-hours trading, the 2010 earnings of Havas and BioMérieux.

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Publicis wants to surf the digital delay of French SMEs. The advertising giant on Monday announced the launch of Webformance in France, a new support service for small and medium enterprises on the Internet. Creating a website, running a campaign on Google, viral marketing, content development videos, development of e-commerce … the subsidiary of Publicis, based in Lyon aims to provide a toolkit facilitating the use digital SMEs.

"Our goal is to put the power of the Internet service. It is about giving them the opportunity to be present in an effective manner, to win new customers and retain existing customers, "said Maxime Baffert, CEO Webformance.Publicis, which has made more than 25% of its turnover in digital in 2010, intends to push its advantage and be the rendezvous of the digital development of small French companies. If this activity is marginal in terms of overall activity of the group, it constitutes, according to CM-CIC Securities, a "first step on the market for local advertising on the Internet relay natural growth" of Publicis.

Digital divide

For if large groups are heavily present on the web, using, for example with ease social networks as a marketing channel, SMEs and SOHO will always lag behind heavy consequences. A recent study by the Observatory for small business, 62% of entrepreneurs interviewed said they did not have an Internet presence.A good third of them confide even never use e-mail!

"We have five years to catch up with our European neighbors," says Jean-Michel then Yolin, vice president of the Business Innovation and Ministry of Economy. A technology gap even more crippling consumers invest heavily online. According to a survey by TNS Sofres, 41% of French people surf the Web to learn about a professional. And 81% of them consulted the Internet before making a purchase online or not, "says the federation of e-commerce. "For businesses, digital literacy is a genuine issue of competitiveness," says Jean-Michel Yolin.

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