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Bernard Arnault, boss of LVMH, has found an ally in the battle between the family heir to Hermes. Nicolas Puech, shareholder of Hermes, has said in effect open to any cooperation with the luxury giant, in an interview with the Journal du Dimanche (JDD). The heir to the fashion house did not show against this eventuality, provided that it is "the benefit of our house and she keeps her free will." A position which denotes the rest of the family who was a holding company to counter the surprise arrival of LVMH's capital.

Nicolas Puech is not conducive to the formation of a family holding company for LVMH counter. "I told my family confining our shares in a holding would have the disadvantage of depriving the family shareholders of their individual power control on management.Freedom of each is the best guarantor of our unity in the long term, "said Nicolas Puech.

The heir who owns 6% of Hermes, is the largest block of shares in the group, further emphasizes that it is not isolated from his family at this position faxless cash advances. The agency Bloomberg has in fact recently reported that about twenty members of the family refuse to return in the new holding company, representing 7% stake in the company. But Bloomberg did not disclose their identities. An unlisted company froze 50.2% of the 70% held by members of the family had been Hermes was established at the initiative of 52 cousins.

Moreover, the speeches of leaders of Hermes is usually marked by a strong hostility against LVMH and his boss Bernard Arnault. Patrick Thomas, managing director of Hermes, said in early March that his group had no contact with LVMH."The synergies with LVMH does not interest us," said the officer was at the presentation of group results. But the position of the heir dissident could change relations between the two groups.

In exchange, the luxury sector is particularly affected. The LVMH shares (-2.7%) and Hermes (-2.25%) fell back as their homollogue PPR (-1.5%).

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And if the Renault spy case was based on a simple internal settling of scores? Having missed so far, this track is not ruled according to a source close to the investigation quoted by Le Parisien on Saturday.

She says an employee of Renault 'close' to Michel Balthazar, former head of the division "upstream projects and services" of the company and laid off in January with two other executives, Matthieu Tenenbaum Rochette and Bertrand, was the author of the famous anonymous letter sent in late August at the direction of Renault.

"In May this year, I saw Michael Balthazard negotiate a jar of wine, claiming that if Bob Bell took advantage of F1, also wanted to enjoy it and feed his bank account," says the author literally. Without the quote, it also aims Matthew Tenenbaum."During another conversation, he (Michel Balthazar, Ed) spoke of a young man (Matthew Tenenbaum, Ed) which quickly understood how it works to fill his bank account," he adds.

Renault has made "mistakes"

Recognizing not have "no evidence", the "Raven" was threatening the management of Renault. "Without checking action on your part, I would not hesitate in a few weeks to send the letter to the press." But according to RTL radio, which obtained one of the anonymous letters, the document aimed Michel Balthazard contains "no details or overwhelming potential to advance the investigation."

Anyway, the contents of this letter plot."Who else but a close security service may Renault whether audits will be conducted?" Asks Maitre Thibault de Montbrial, lawyer Matthew Tenenbaum.

The Central Directorate of Internal Intelligence (DCRI), responsible for investigating this matter, and would guide his research on the environment "very close" to Michel Balthazard. A dozen people are suspected by investigators.

For its part, Renault, however, convinced he has been betrayed by three executives who allegedly leaked confidential information, now acknowledges having made "mistakes." And if the automaker had wrongfully dismissed three executives on false accusations from a "raven" still an employee of the group? This would then no longer one but two crises that the automaker should be managed.

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Power projects and large solar photovoltaic systems on roofs remain suspended until March 9, as requested by the government. The approximately eighty companies solar and association without borders ecology grouped under the collective "Hands off my panel" did not in fact been successful with the State Council. The judge Philip Martin on Friday rejected their petition calling for the suspension of three-month moratorium declared on December 9 by the government.

Reason Referee: no emergency justified to suspend the moratorium. The judge took "into account the public interest associated with reviewing the system of incentives to produce solar electricity," the statement said the State Council.Multiannual programming set a target of 5400 megawatts (MW) of installed photovoltaic end of 2020, said the State Council. Yet in late 2010, the "queue" of projects submitted by producers (excluding individuals) was a 5375 MW capacity. The supreme administrative court invokes the extra support to solar for the consumer but "without advancing any numbers," says Alexandre Faro, lawyer of several applicants.

Consultation at Bercy

The judge nevertheless acknowledges "that the decree could lead to the companies involved economic harm." "I invested about 200 000 euros in roofing projects in agriculture", explained last week, outside the hearing of the State Council, Charles-Louis Utruy, founder of the micro-enterprise Fransola payday loan lenders.The freezing of the queue by the government, "it is a year of work in the trash and all that money lost staff.

The profession was divided on whether to sue the decree. "We do not wish to participate in this action because we considered unproductive: he plunges into the profession even more uncertainty," says Andre Antolini, president of the Renewable Energy Association (SER). Meanwhile, the consultation meetings are linked to Bercy."Not everything is written," the president trusts the SER.

Thierry Lepercq, president of Solairedirect, like many of his colleagues, however, believes that "the government's intentions leave no room for discussion: lower prices and volumes for smaller plants, lower rates and also opening bidding for large installations. "The tender squeeze smaller players like us," says Charles-Louis Utruy.

And if the annual cap of 500 MW planned by the government is maintained, many firms will abandon the sun provides me Faro.The latter looks certain customers compensatory remedies ErDF cons (a subsidiary of EDF, which bought the photovoltaic current), ahead of the commercial courts, as entering the queue, producers received a guarantee of the purchase price before that the decree of December 9 cancel their projects.

The new rules are expected in mid-February.

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Staff representatives have been warned in a Group Committee. The German company has opened a data room for two months so that potential buyers can inspect the file.

DirectGroup France, which employs 4,600 people for a turnover of 635 million euros, is a leader in sales of cultural products with over 300 outlets payday loans for bad credit.

In 2008, Bertelsmann had already thought about the assignment of the branch whose pattern is attacked by the Internet.

Indeed, Bertelsmann has sold the activities of DirectGroup in North America in summer 2008 (1 billion euros of turnover) and introduces a partner in the Spanish subsidiary fast same day loan. In the first half of 2010, Bertelsmann welcomed the turnaround in its accounts, but stressed that its black remained DirectGroup.

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The reconstitution of the downstream oil sector whetting the appetite of Ruby. Unknown to the general public, the independent French company, specializing in liquid storage and distribution of petroleum products, has just completed four acquisitions in quick succession for nearly 400 million euros. A significant amount, given the size of Ruby, who directed last year just under a billion in turnover, net profit of 47 million.

The last transaction, formalized on Friday, concerns the distribution activities of American oil to Chevron Caribbean and Central America. It allows Ruby to take a portfolio of 174 stations in Texaco, plus a stake in a refinery.Earlier, the company took over distribution activities of liquefied petroleum gas (LPG) Shell Southern Africa, Linde German in Switzerland and BP in Spain.

"The will of the majors refocusing upstream opportunities we offer. Our strength and our decentralized approach allows us to be particularly successful in regional markets free credit score. It is also our philosophy: to be hard on smaller markets rather than on large marginal, "says Bruno Krief, the chief financial Ruby.

Reassure shareholders

To finance this expansion, the company announced it would undertake a capital increase by the end of the year.If the amount was not disclosed, but Ruby says that this operation should cover "approximately one third of the investments made, while providing shareholders with strong growth in earnings per share and dividends."

Ruby, whose market capitalization has crossed this week the billion euros, intends to continue to focus its development on growth areas. "France is not our priority, both because most of the movements in the area have already been made and because the constraints to this type of operation are many," said Bruno Krief.

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Together and in a few months, Nicolas Sarkozy and David Cameron have succeeded where fifteen years of efforts to create a true European defense, conducted mostly by the French, had largely failed. British Prime Minister and French President will sign on Tuesday in London, a treaty of defense and security aimed at developing cooperation between the armed forces of both countries and "their joint deployment. The text will not be released but according to the Elysee, the content is "substantial."

The merger of French and British defenses swept almost all areas. But one, nuclear is more sensitive and symbolic than others.While guaranteeing the independence of their deterrent, London and Paris on Tuesday will seal 'unprecedented cooperation "aimed at testing the performance of nuclear warheads and safety of arsenals of both countries in the installation of French scientific Valduc, Burgundy , to be completed in 2022. British side, it will be supported by a research center based in Aldermaston. This particular agreement will be a special treaty between David Cameron and Nicolas Sarkozy, who will be concluded Tuesday, and for fifty years. As one manager at the Elysee, "having reached agreement on a major issue as the nuclear weapons demonstrates a degree of trust between our two countries has never been equaled.It will help develop the rest. "

In London, a letter of intent "a new framework for trade" between our forces in theaters of operation will also be signed by the two Defence Ministers. A common joint expeditionary force suited to all operations, including high density, and available on notice, should be created.The decision to replace Britain Green Paper in 2016, on aircraft carriers, the system of vertical takeoff by the catapult, making it compatible vessels and aircraft from both countries allow British and French navies to cooperate, first around the Charles de Gaulle, then in 2020, around the new British aircraft carrier.

Enhanced cooperation on UAVs and missiles

In addition, the London summit is also an opportunity to announce a strengthening of links on the A400M program (maintenance, pilot training, air refueling), a technology cooperation on nuclear submarines – to the nuclear exclusion of hearts and launchers – a harmonization of mine, increased cooperation in the field of UAVs, have become essential for the armed forces, in the missile and that of research instant payday loan.

The two countries will work together next year to design the next generation of surveillance drones "medium altitude endurance lon gue" that must be designed between 2015 and 2020 and in 2012 launched a "common agenda demonstrator" intended to prepare future "UCAV" likely to enter service in 2030.

In terms of missiles, Paris and London have unveiled Tuesday a "year strategic plan" intended, according to the Elysee, to hatch a "single European supervisor. From 2011, both countries will also work on a new anti-missile navireau successor to the Scalp cruise missile and a draft air short range missile.

Economic realities

In total, according to the Elysee, "a program that commits us for decades and will profoundly structure our defenses and our industries."Underpinned by the will of Nicolas Sarkozy and David Cameron, this historic rapprochement was forced by the economic crisis by imposing budget cuts on both sides of the Channel, could lead the French and British armies to "stall". In order to remain global powers, London and Paris, the two European heavyweights in the military, are now sentenced to cooperate to save money, even to accept a "mutual interdependence" in some areas, says it as president. Unite to survive.

French officials are convinced: the return of Paris in the Alliance's integrated command, by removing the mistrust of our partners, who suspected France of wanting to weaken NATO, has helped to strengthen ties with London while by removing the U.S. reluctance."Without this return, he was psychologically and politically more difficult to get agreement," says the head of the Elysee.

All this is supposed to be the "cornerstone" of a project that could one day be even more ambitious. If other European countries decided to join the Franco-British military locomotive of Europe …

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The Paris markets held their breath all week. 14:30 vednredi this were published figures on U.S. employment, as expected.

Blow: the U.S. lost jobs in September for the fourth consecutive month and at a pace much faster than the previous month. The economy has destroyed 95,000 more jobs than it created in that month, says the official report on employment from the Labor Department. The number of jobs lost has increased by 67% compared to August.Analysts believed instead that the country was back in September in the balance with a zero balance of creation or job destruction.

Despite the destruction of jobs, the unemployment rate remained steady at 9.6%, the ministry said, while analysts predicted they would go back to 9.7%.

The CAC 40, which started the session on a slight decline from 0.18% to 3763.35 points, had just returned to equilibrium before 14:30 before diving. The index lost around 15 hours, 0.76% to 3741.9 points.

Exchange side, the dollar has rebounded with this hit. The greenback is a safe haven, and when the United States go wrong, the perspectuives for the rest of the world are deteriorating, which increases the risk aversion of investors protect themselves by achtant the doller, which is assessed .Instead, the euro fall under $ 1.39 after touching the bar to $ 1.40 Thursday to 15 hours.

This morning, Asian markets were also very hesitant.Yesterday, Wall Street was in the same state of mind, ending a volatile session without direction, despite the publication of quarterly results from Alcoa, the first of the season, which was considered good.

In addition to the employment numbers, operators will be attentive to wholesaler inventory to be published by the U.S. Department of Commerce.

The German trade surplus decreases

Before that, the French budget deficit figures for August have been published: it thus reached 122.1 billion euros at the end of August, against 127.4 billion a year earlier, reflecting the economic recovery and stimulus of 2009, according to the Budget Ministry.

German exports fell for the second straight month in August after two months of strong growth.Exports fell 0.4% on a seasonally adjusted from July, while imports rose 0.9%.

As for currencies, the euro is rising against the greenback in morning trading: a euro is worth 1.3943 dollars, up 0.14%. Thursday afternoon, the euro surpassed the symbolic threshold of $ 1.40.

Sanofi was ready to offer more for Genzyme

As for values, the series Sanofi-Aventis (-0.33% to 48.885 euros) / Genzyme continues check cash advance.Thursday, Constable American Stock Exchange, the SEC has received a document stating that the owner of the French pharmaceutical group, Chris Viehbacher, had informally discussed the possibility in September to spend up to $ 80 per share to acquire the U.S. company, before opting for surgery with a hostile bid lower at $ 69 per share.

The new CEO of AXA France (-1.01% to 13.21 euros) for his part, outlined his goals: he wants to redress the group's profitability in insurance damage and accelerate its growth in health, pension and savings retirement.

The bank is also misguided. Red lantern ACC in early trade, Societe Generale lost 1.07%.BNP Paribas and Credit Agricole retreat respectively of 1.28% and 1.64%.

As for oil stocks, Total (-0.55% to 38.3 euros) still faces a strike by oil terminals in the port of Marseilles-Fos. The seven refineries are supplied by the terminals are close to the fuel.

The Chief of Air France-KLM (-0.90% to 11.6 euros), Pierre-Henri Gourgeon, gave an update on the sector and competition. He believes that the challenge of the next decade for European airline companies would resist the Gulf as it considers very offensive. "They are desperate to create activity. They spend lavishly.They have the willingness to take market shares of European companies, "he added, questioning the ability to resist the three major European, Air France-KLM, Lufthansa and British Airways.

CGG Veritas (-3.55% to 16.45 euros) announced an availability rate of its vessels for the oil sector was 87% in the third quarter. This compares with a rate of 92% in the second quarter and 90% in the third quarter.

Manitou (5.70% to 12.895 euros) signs one of the largest increases in the CAC Mid and Small 190 Friday at the Paris Stock Exchange after raising recommendation of Oddo Securities. The broker went to "accumulate" cons "ease" and raised its price target to 15 euros to 10 euros cons after a private tour of the company.The analysis bureau said that the company has "a healthy financial structure returned" and that it has "an absence of signs of relapse of the application areas of improvement still significant risks and suppliers in control. "

The Court of Appeal of Paris has temporarily suspended the buyout offer of Autoroutes Paris-Rhin-Rhone of the Paris Stock Exchange until its decision on the application for cancellation of the operation made by the department of Saone -et-Loire.

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Since Wall Street opened, the CAC 40 was down a little deeper into the red, as was the case adhered just below these sessions. Around 16 hours, the index drops 1.71% to 3431.29 points. It seems that all eyes are turned to the United States, which links the bad economic publications.

After falling sales of existing homes (yesterday), on Wednesday, orders for durable goods rose only 0.3%, against 2.8% expected.The U.S. stock markets have opened in the emblematic red and embarking again finanières European places.

Second bad news dropped to 16 hours in the U.S. yet, sales of new houses have relapsed in July to reach a new record low since 1963 at least, after an unexpected plunge 12.3% from June , according to official figures released Wednesday in Washington.

Tuesday, across the Atlantic, the bad sales figures for housing (the lowest since 1995) had already severely affected exchanges.

On Wednesday morning, the CAC 40 was, however, tried to trace down the tip, reviving briefly in mid-morning, with 3,500 points, after an early morning start in the red (down 0.25% to 3482.53 points) .A rise that coincided with the announcement of a surprise increase barometer Ifo main confidence index in Germany. The latter settled in August to 106.7 points against 106.2 in July (as confirmed), while economists and analysts had expected the decline to 105.7. Their estimates ranged from 103.8 to 107.5.

After returning to equilibrium time, the Dax reassigns 0.77%. The London FTSE follows the same path (-1.05%) after starting in negative territory (-0.10%) followed again by a brief rebound.

Since the beginning of the week, the CAC 40 has yielded no less than 3.3%. And since August 6, the index dropped 9.7%!

As for currencies, the euro has stabilized against the dollar payday loans online.The euro traded 1.2662 dollar.

Edenred unscrews

In terms of values, many trucks will publish their results quarterly and half in this weekend.

Lagardere takes the lead, up from 3.94% to 29.045 euros. The title is supported by Exane noted that his opinion of "Underperform" from "Outperform." The target price has been raised from 35% to 35 euros

Edenred, the old branch of prepaid services group Accor became autonomous, has reported an operating income of 155 million euros in the first six months of the year, down 7.1% . Turnover rose 3.8% to 461 million. But the group is very conservative forecasts, the growth in issuance volume yet to be affected by rising unemployment in Europe.The securities were down 0.22% to 13.78 euros.

L'Oreal (0.90%) and Sperian (+0.09) will publish its first half results after market close.

The Polish government has shortlisted five offers to buy the 51% stake in state power company Enea on Tuesday said the Treasury Department, without specifying the identity of candidates. EDF (-0.44% to 31.63 euros) and GDF Suez (-0.80% to 24.32 euros) would be in the running according to media reports. Only EDF confirmed it had made a preliminary offer.

Scor (1.91% to 16.285 euros) has been a change of recommendation by Fitch. The broker has raised its outlook on Tuesday its debt rating of reinsurance group to "positive" cons "stable" and kept at "A" rating from its long-term debt of the group.Fitch said the decision including the prudent investment policy conducted by SCOR and the diversification of its risks.

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A history of gold? The fund Bridgepoint entered into Friday night to Saturday two agreements to buy the first two channels simultaneously French jeweler midrange, Histoire d'Or and Marc Orian.

If successful, a priori, in October, the transaction remains subject to the advice of two councils and the approval of competition authorities, would bring the delicious result of two brands created by successive Sylvain Krief in the 1980s, and whose networks are geographically complementary.

Histoire d'Or, owned since 2006 to fund Silverfleet Capital, has 200 stores, almost all located in shopping malls on the outskirts of cities. The company is dynamic. Its turnover amounted to 220 million euros in 2009, up 1.1%. In France, its network of stores has almost doubled in size in four years.Elsewhere in Europe, the brand has established in Belgium and Italy. History Gold was also launched in 2007 teaches J'M (six stores), on the same niche, but more likely.

Good mid-range resistance

Located also in the malls, Marc Orian Group operates its side a network of more than 250 stores under the Marc Orian and Treasury, and annual sales of around 130 million euros. The company is owned since 2006 by QUALIUM (formerly CDC Capital Investissement) who bought from Crédit Agricole Private Equity.

The combination of these signs would create a network of over 450 shops for a turnover of around 450 million euros. It has been several years that the funds eyeing the jewelry chains midrange.The sector has grown steadily against the current of a market down 2% last year, mainly at the expense of traditional jewelry stores downtown.

Bridgepoint could benefit from his position of arch-leader to refine the positioning of its various networks, optimize purchasing and address the heart of market towns by launching a new concept.

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On Monday, the opening of stock markets in Europe, banking stocks will be the center of attention. While Friday night, 18 o'clock – evening after the close of stock markets in Europe – results of stress tests reported only seven failures out of 91. That is to say that 92% of the banks examined have managed to maintain a solvency ratio of at least 6% by simulating economic conditions deteriorated.

But among them, banks posted September 10 called Tier One ratios between 6% and 7%. It's like having a BA of 10-11 overall average. Deutsche Postbank, Piraeus Bank, Allied Irish Banks, Monte dei Paschi di Siena, Banca UBI, Bankinter and eight small Spanish settlements are on the list, which will be closely monitored by investors.The four French banks surveyed, BNP Paribas, Societe Generale, Credit Agricole and BPCE have all scored honorable.

On Monday, central bank governors and heads of Supervisors will meet in Switzerland to discuss the reform proposals on the strengthening of bank capital.

But after their success in tests of strength, European banks may find it difficult to argue that they can not apply a stricter financial regulation.

"Banks are ready to begin implementing the new rules are needed to strengthen the capital reserves and liquidity management of banks," also provided Vitor Constancio, Vice-President of the ECB. Basel III could thus move at a good pace.

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