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The lifetime of nuclear power plants should be paid beyond age 40. Such is the will of Nicolas Sarkozy, announced Minister of Industry, Eric Besson. "The president has decided to require all operators to put in a position to extend the lifetime of our reactors," he said during the Great Rendezvous, a Europe / i> TV / Le Parisien.

"It means to carry out all maintenance efforts, research of the highest standards of safety and security, to ensure that the park could be extended," he added. "The decision is," stressed the minister. "That does not mean it will happen mechanically since it is then the Nuclear Safety Authority (ASN)" which must ultimately take the decision, he said. ASN will consider each of the reactors and give the green light on a case by case.  

A report commissioned by Eric Besson, to be published Monday, should warn against the consequences of reducing the share of nuclear and advocate the extension of the French nuclear fleet. This will be pursuing the development of third generation EPR reactors (1600 MW), of Atmea medium power (1000 MW) products with China and Russia as well as smaller units (300 megawatts).

Between 680 and 860 million per reactor

To the Minister of Industry, extending the life of existing plants is the best solution, including an economic standpoint. He said nuclear power is twice cheaper than wind energy and five times less than solar. On the other hand, EDF considers that extending the duration of operation of its plants would cost 680 to € 860 million per reactor. The construction of a new-generation reactor Areva cost compared five billion per reactor.

Other scenarios would cause "inevitable consequences", Eric Besson insisted, as "the rising price of electricity" and "job destruction", "150,000" direct, "300,000 to 400,000" indirect. Besides the "2 million jobs" industrial "potential" which according to the minister, "can be impacted."

As to reduce the nuclear share of 75% to 50% in the French energy mix, as proposed by the Socialist candidate Francois Hollande, it is "irresponsible" criticism Eric Besson. In a draft, this would in effect in 2030 by a decline of 0.6% of GDP. The UMP wants to maintain 75% of the share of nuclear in electricity generation French.

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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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The government wanted to know the outcome of EU summit Wednesday evening, presented as crucial for the future of the euro area, prior to revise downward its growth forecasts. Despite the success of the meeting of the seventeen member countries of the euro area, which found the night of Wednesday to Thursday an agreement to stem the crisis at the moment on the Old Continent, the head of state n has been recognized that the Thursday night: the economy would not be up to expectations next year.

Until then, Bercy expected a GDP growth of 1.75% in 2012. But since the beginning of summer, the situation has deteriorated considerably. "For the sake of seriousness, we decided to lower our forecast to 1% next year," said Nicolas Sarkozy, who is aligned and the assumption by our German neighbor.And, near the line thickness, on the average forecast of economists (0.9%).

To keep the deficit targets despite this deterioration – and this is the top priority – must be found "6-8000000000" euros in savings or additional tax revenue next year, said Chief of the state.

Nicolas Sarkozy has asked Prime Minister Francois Fillon, with Valérie Pécresse (Budget) and Baroin (Economics), floor of the copy. And this new austerity program will be announced "in ten days," just after the G20 which takes place in Cannes.

What is certain is that "we must spend less on operating and investment to support growth (…).What we're announcing is not the rigor is the careful management ", insisted the president.

Without going into details of the options considered, the president said he did not intend to "increase the action" but "favor those that will strengthen the competitiveness" of the French economy. The executive knows that he can no longer take the risk of asphyxiating the remaining activity by a strict discipline, which would result in a tightening of the French.

No general increase in VAT

Why Nicolas Sarkozy has already categorically excluded "a general increase in VAT" which "would affect the purchasing power." "Francois Fillon did not propose, I have already spoken with him," he said.But calling for a tax harmonization with Germany, the president did not rule out the idea of ​​raising the reduced rate (set at 7% across the Rhine at home against 5.5%) or the introduction of an intermediate VAT rate (between 5.5% and 19.6%) for products now subject to a reduced rate (catering, building …)

It announces clearly no "social VAT" – renamed "VAT antidélocalisation" to the UMP – hypothesis was raised in the procession of the tracks in the study. He implicitly endorsed the idea but has returned to the next presidential debate "in a few months."

However, companies should be tapped. Address the tax differential between multinationals and SMEs is a carrier. It is almost assumed that the new austerity plan will include a surcharge of corporate tax targeted at large enterprises.And, probably in December.

The plan will also focus on public spending – including spending on health. "We will continue to find savings on expenditures that make all the difference (…). The operating costs should continue to be better managed, "said Valérie Pécresse in the wake. The budget minister was keen to point out that the government had already made 45 billion effort two years ago, "half in reducing tax loopholes, the rest in spending."

Some ministers argue for cuts in spending this time represent half the effort (instead of one billion end of August, against 11 additional samples). Cleaving an option vis-à-vis the Socialist Party. But six months of the presidential, that is precisely what the government seeks.

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Despite the strong rebound on Wall Street Tuesday, Asian stock markets are unable to confirm their good performance yesterday morning. Including the Nikkei Stock Exchange Tokyo loose 1.07% to 8639.61 points, after opening up 0.78%.

Moody's has in fact degraded by one notch (to Aa3) Note the long-term debt of Japan due to the massive debt the country, aggravated by the earthquake of March 11. In the process, the U.S. rating agency also lowered the rating of a crazn debt of large Japanese banks (Mizuho Bank, Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking).Mizuho lost 0.89% to 111 yen in Tokyo Stock Exchange, Mitsubishi UFJ Financial loose 3.21% to 331 yen and Sumitomo was down 1.67% to 2172 yen.

Tokyo takes steps against the high cost of yen

While the yen regained some ground against the euro (110.52 yen per euro) and was stable against the dollar (76.70 yen to the dollar), the Japanese government also announced a series of measures exceptional to help companies: including facilities will be granted to them by creating a special fund of 100 billion dollars taken on the foreign exchange reserves to encourage them to invest abroad guaranteed approval cash loans.

Despite this, the export value, including automobile manufacturers, continued to decline in stock: Honda lost 2.28% to 2,311 yen and Toyota gave up 2.02% to 2707 points.

Chinese financial markets, the Hang Seng lost 0.81% to 19.714.50 points while the CSI 300 gained 0.35% to 2830.83 points.

As for other Asian financial centers, the trend is also mixed: the Taiwan TAIEX was down 0.11% at 7541.80 points, the Kospi Index in Seoul lost 0.61% to 1765.78 points and the FTSE Straits Times of Singapore gives 0.48% to 2752.01 points. However, the BSE Sensex 30 Bombay is stable at 16,502.90 points and the S & P / ASX 200 advance 0.23% to 4182.80 points.

Oil prices rise

Oil prices were up Wednesday morning during electronic trading in Asia, with Brent who was close to 110 dollars a barrel because of uncertainty about the situation in Libya. In morning trading, a barrel of Brent North Sea crude for October delivery gained 50 cents to 109.81 dollars. A barrel of "light sweet crude" for delivery in October was appreciating by 18 cents to 85.61 dollars.

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The Paris Bourse was hesitant at first. On Monday, the CAC 40 index opened down 0.85% below 3000 points. But the trend was quickly reversed. The benchmark index in Paris and flew from 1.46% to 3061.08 points in mid-session. 3000 points will retain the objective of the day. This threshold, which had escaped during the meeting with investors last week, was saved at Friday. This did not prevent the CAC 40 to close the day on a sharp drop of 1.92% and losing in five days almost 7%.

Furthermore, volatility is also important. In London, the FTSE-100 index, which started on a decline of 0.82%, now earns a 1.35%. Same movement for the Dax in Frankfurt bouncing 0.10% mid-term after losing more than 1% in the morning.

These policy changes reflect the concerns of investors about the state of the global economy.The United States also focused all fears with the publication of indicators increasingly mixed. This weekend, President Barack Obama admitted that his country was experiencing "a difficult, frightening recession." This should not reassure. He also accused the Congress to halt the reforms he wants to put in place to revive the economy. For his part, Vice President Joe Biden tried to reassure global stock markets and especially the Chinese, the first creditor of Americans saying the country would "never" by default.

Side the euro area, the problems of sovereign debt persist. As the political stalemate. Sunday, the German government has stepped up interventions in the media to reaffirm its opposition to European obligations, yet solution desired by the markets."The Eurobonds are quite the wrong response to the crisis of the moment. They would lead us to a union of debt and not a union of stability, "said Chancellor Angela Merkel who judges the cost of this mechanism is too high for the economy of his country.

Libya move

As in Asia this morning, so caution prevails, especially since no major indicator is in the program. Germany has lowered its forecast of budget deficit to 1.5% of Gross Domestic Product (GDP) in 2011, in a monthly report of the Ministry of Finance released Monday.

Growth is slowing for the fourth consecutive quarter in rich countries, that appears to + 0.2% from April to June compared to the previous three months, according to the Organization for Economic Cooperation and Development (OECD)."The gross domestic product (GDP) in the OECD area slowed to 0.2% in the second quarter of 2011, against 0.3% last quarter," said the organization in a statement Monday.

But investors expect a battery of statistics in the rest of the week including the manufacturing PMI for the euro area (Tuesday), the German IFO index (Wednesday), the weekly jobless claims in the U.S. (Thursday). Wednesday will be marked in France by the presentation of new conservation measures for the country to retain investor confidence and the "triple A".

Friday will be the busiest day with the second reading of U.S. GDP in the second quarter and the index of consumer sentiment.Another highlight of the week: the president's speech to the U.S. Federal Reserve Ben Bernanke, scheduled for Friday.

As for currencies, the euro rose slightly against the greenback. The single currency is worth 1.4419 dollars this morning. Oil markets, traders are watching to Libya where the rebels have entered in Tripoli. If pro-Gaddafi still resisting in the capital, rebel fighters have reached the Green Square, symbol of the regime. The fate of Colonel Gaddafi and therefore the oil-producing country seems uncertain. Seif al-Islam, presented in the past as the future successor of his father, was arrested.In morning trading, a barrel of "light sweet crude" for delivery in September gained 0.84% ​​to 82.95 dollars while that of Brent North Sea crude for October delivery of the territory ceded.

Values ​​to follow

Banking

The AMF may decide Friday, after the close of European stock exchanges, to renew its ban on short selling on financial stocks, but this time for three months. The sector also bounced unevenly on Monday after sharp declines last week, Credit Agricole gained 2.76% this morning before falling back slightly in mid-session (-0.29% to 6.10 euros).BNP Paribas gained 0.95% to 33.06 euros, however Natixis crumbles from 0.76% to 2.86 euros, and Axa, from 0.34% to 10.24 euros.

For his part, Frédéric Oudéa, CEO of Societe Generale (1.34% to 21.15 euros), said Sunday that the nervousness that penalizes banks Scholarships could last "at least until early November."

Paris airport: + 0.73% to 54.17 euros

ADP has registered a record passenger traffic in July, with 8.9 million passengers, an increase of 4.6% over the same period in 2010.

France Telecom (1.04% to 12.68 euros), Vivendi (0.69% to 15.39 euros), Bouygues (0.97% to 21.92 euros) Iliad (1.39% to 80.70 euros)

Some operators are preparing for the end of unlimited Internet access in homes for some clients.

Total: + 3.36% to 33.065 euros

Leading the CAC40, the title has hopes of a quick change of regime in Libya that would allow a reopening of the country's oil installations.

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The catastrophe of Fukushima has not cooled the ardor "nuclear" in Finland. Three and a half months after the accident on several reactors in Japan, the electrician Fennovoima officially launched a tender to build a new plant, which will be the sixth of the country. Four are already operating, while the fifth, Olkiluoto 3, the site is controlled by the French group Areva, will enter service in 2012.

The same Japanese Areva and Toshiba are the two groups identified by Fennovoima to participate in the tender whose outcome is expected for 2012-2013. The dual French-Japanese technology will also be a clash between the pressurized water reactor, the EPR, proposed by the European company, while his opponent defends an Asian model for boiling water, the ABWR.Both show a roughly similar power.

It's been exactly one year that Finland has launched the process to build new nuclear generation capacity. In July 2010, two electricians, TVO and Fennovoima have been authorized by Parliament to build each plant cash advance no faxing. Since then, Fennovoima has selected two sites to host this facility. Meanwhile, the group sifted through the different reactor technologies before choosing the respective models of Areva and Toshiba.

Three years late

For TVO, things are a little different. The tender for an additional reactor is not yet launched, but the first Finnish utility is already working with Areva as operate the Olkiluoto 3.Incidentally, the fact that Fennovoima has chosen to confront the French technology Toshiba shows that the Finnish authorities have not focused too much on the delay of the Olkiluoto site. This effect will be delivered in three years late, while the bill has almost doubled to 6 billion euros, against a budget of 3.5 billion initially.

But it must be said that the catastrophe of Fukushima had beneficial consequences for the EPR. Its high level of security has become a very significant advantage.

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Photo credits: Marian Lockhart / Boeing Photographer/201035

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Good student, but must continue its efforts. It is, in short, the message delivered by the rating agency Fitch in France. She confirmed the debt rating "AAA", the best possible, with stable outlook. The French government has taken "a series of measures", says the agency, "which have improved the outlook for public finances." And mention the pension reform, or the draft law in fixing the principle of balance of public finances.

"However, these efforts must be extended to stabilize and then reduce the level of debt of France, which was the end of 2010 to 81.7% of gross domestic product (GDP)," warns Maria Malas-Mroueh, responsible scoring countries at Fitch. A number of risk still hovers in effect on the financial health of the state. Starting with 2012, a major election year.It should not, Fitch warns that the budget skids on the bottom of the presidential election. Especially since the forecast growth in the medium term Bercy (+2.5% per year) are considered "optimistic."

It should not, the agency said that the newly elected unleash the flange to the public finances in 2013. Instead, the agency left little choice to the government that emerges from the polls: "We expect the 2011 budget will meet its objectives (a deficit of 5 Internet Payday loans.7%, Ed), but further efforts are needed to reduce the deficit to 3% of GDP in 2013, as agreed. " Debt levels will then stabilize at a level higher than before the crisis, reducing the flexibility to cope with future crises.

Note "under pressure"

In the medium term, Fitch added that "the memo from France could be under pressure (read: be revised downward, Ed) if the competitiveness of France was deteriorating again and if the position of France was weakening." The agency plans and the current account balance, ie the difference between money coming in and who leaves the territory, will remain negative in 2011 and 2012, approximately 2% of GDP. Fitch impels France to further reduce its "structural rigidities".

Despite these black spots, the Hexagon rest for now, said the agency, a "healthy and diversified economy," equipped "social institutions, civil and effective policies." He added: "financial flexibility reflect its status as a major issuer of sovereign benchmark in the eurozone. Clearly, the markets like, so far, take on France.

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After opening down, Wall Street back into positive territory on Friday. At the close, the Dow Jones gained 0.50% at 12,044 points, the S & P 500 ahead 0.71% to 1304 points and the Nasdaq rose 0.54% to 2716 points.

A great performance, despite concerns about the earthquake that hit Japan last night, disappointing indicators released Thursday and continuing tensions in Libya.

Oil continues to unwind

These concerns, however, have allowed oil prices to relax. Shortly before the close of Wall Street, Brent yielded $ 1.74 (1.51%) to 113.65 dollars. For the week, crude texant lost $ 3.26, or 3.12%.

On the macroeconomic front, retail sales in the U.S. rose 1.0% in February from January, as analysts anticipated, according to figures released Friday in Washington by the Department of Commerce.

U.S. consumer confidence fell in March, according to an index released Friday by the University of Michigan, which was 68.2 against 77.5 the previous month.

Restocking of manufacturing firms and corporations increased 0.9% compared to December in the U.S., according to figures released Friday by the Washington Department of Trade and rather good news for the U.S. GDP.This increase is slightly greater than the median forecast of analysts who gave 0.8%.

AIG: 2.36% to 37.34 dollars

The insurer American International Group said on Thursday to buy back $ 15.7 billion in cash (11.4 billion) of mortgage assets that the U.S. government had recovered during the financial crisis through the bailout group.

National Semiconductor: 3.74% to 14.69 dollars

National Semiconductor has published an annual turnover less than expected for the third quarter of fiscal year due to destocking at its distributors, but its forecast of sales growth for the current quarter is in line with expectations .

Clearwire: 0.17% to 5.76 dollars

The Clearwire CEO Bill Morrow has resigned as part of a wider reshuffle at the head of the wireless network operator, amid difficulties to finance its investments and dispute between the group and its majority shareholder Sprint Nextel.

Chevron: 0.85% to 99.92 dollars

Chevron announced the sale of its refinery in Pembroke, Great Britain, for 730 million dollars U.S. refiner Valero. The latter said in a separate release that the acquisition would be accretive to its earnings immediately, adding that the transaction should be finalized in the third quarter.

Apple: 1.53% to 351.99 dollars

Apple launches this Friday the marketing of the new version of its iPad tablet.

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Hackers are on all fronts. After the stock exchanges of New York and London in particular, hackers are able to penetrate the security of the French Ministry of Economy and Finance, reported the website of Paris Match. The Treasury Department and in particular the G20 documents were the subject of a massive computer attack between December and this weekend, said the weekly's website which refers to "a source familiar with the matter."

Pailloux Patrick, the executive director of ANSSI (National Security Agency Information Systems) said that "those who acted are professionals committed and organized. This is the first attack against the French state and of this magnitude at this scale. "

In total, more than 150 computers in the department who have been infiltrated and many pirated materials.The attack was, according to Patrick Pailloux "documents related to the French presidency of the G20 and international economic affairs." No attack, however, concern individuals.

Chinese Track

Even if the origin of the attack has not yet been established, a senior official suggests a possible Chinese track. "We found that a number of information were redirected to sites in China," Paris Match reported quoting a senior official, who requested anonymity. "But that does not mean much," he tempered.

For now, Bercy filed a complaint against X with the Paris prosecutor's office and the DCRI, the French intelligence service, was seized.

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