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The intense cold wave now raging in France put the electricity infrastructure under strain: Monday evening, 19 hours, consumption has risen to 96,300 megawatts (MW). Near the high of 96,710 MW-which consumption of 15 December 2010.

The transport network has responded effectively to the accelerating demand for energy. Monday afternoon, RTE, a subsidiary of EDF responsible for lines and very high voltage, did not display a particular concern. But vigilance was maximum in the image of the orange alert decreed in Britain and red Paca.

In both regions traditionally sensitive in winter, it is encouraging incentive to conserve water, otherwise proceed to "load shedding", that is to say, targeted cuts. Both alerts are very likely to be renewed on Tuesday. Monday, several communities in the Alpes-Maritimes announced the establishment-or-building measures to reduce consumption, particularly regarding public lighting.

Nuclear at full

In exceptional circumstances at the highest consumption, Great Britain took the first position in terms of French imports of electricity. Of the 6500 MW purchased yesterday 2000 from the United Kingdom, against 1800 MW in Germany payday loan lenders. A first.

Although the EDF nuclear power plants running near capacity of 58 -55 reactors currently operating-, France regularly imports of electricity in winter. Sudden changes in consumption do indeed require the means of production "spike" (hydro, coal, gas, renewable …) while the nuclear provides the "base".

Along with electricity, gas consumption is also found under pressure, due to lower deliveries of Russian gas. Last week, the stocking of gas in France had risen very sensitive. Asked Monday night, GDF Suez noted a slight improvement, however: about 80% of Gazprom's supplies were provided in earlier this week. For its part, the European Commission referred to a normal situation with the Russian giant.

In Italy, however, concern remains high. The oil company ENI could cut gas supplies to some of its corporate customers starting Thursday. On the government side transalpine situation is called "serious".

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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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Post mail, package and fill out the refrigerator in one place. This is the idea of ​​the Post Office, which seeks to exploit its unused surfaces since the closure of distribution centers mail. Casino won the tender and signed a five-year contract with the real estate subsidiary of La Poste, Poste Immo. Fifty convenience stores Petit Casino will open in early 2012 adjacent to the local post offices, in municipalities with fewer than 12,000 inhabitants.

The Petit Casino will have a separate entrance and will be approximately 200 square meters. Their selection will be tailored to local customers, "he will propose a point of warm bread if the village does not have a bakery, and salads to eat on the run over pedestrians in places," said Jean-Pierre Lanzetti, who heads the branch close to Casino.

The distributor further strengthens its leadership in the food trade of proximity.A total of 6700 stores Petit Casino, Casino shopping, shop Casino, Spar and Vival exist in France.

Post this partnership ensures that help to lower its real estate costs and that can "boost territories and improve service provision and attractiveness of city centers."

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The human resources department of Air France is under pressure. Three cabin crew unions (PNC) filed a strike notice for the weekend of All Saints, Saturday 29 October to Wednesday, November 2.

The unions believe that their company "wants to charge PNC" his "poor economic performance." They denounce downsizing that "degrade their working conditions." The strike affects all flights from Orly, Roissy and Marseille.

This was already burning the cloth between the management of Air France and its flight attendants. Seven unions had filed a notice of four days in late July, one of the busiest of the year. Finally, the threat was not carried out.

The hostesses and stewards who work on short flights and medium-haul are directly affected by the restructuring plans announced by Air France to regain ground in a market dominated by low-cost airlines payday advance lender. Air France seeks to improve its productivity by organizing more such flights by plane and rotation by offering volunteers a more intense pace of work. This time, a new rating system hostesses and stewards with their heads cabins, instead of "inspectors controllers" would have set fire to the powder.

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Faced with the fear of a general banking collapse, the Franco-German couple is once again under the spotlight. And once again, things are not simple. Nicolas Sarkozy on Sunday in the German capital to "speed up" with Angela Merkel the implementation of the bailout of a Euro still full turbulence. The urgent need for the French president and German chancellor, is to flatten their differences on the use of the European Financial Stability Fund (EFSF) and reach a tentative agreement on the thorny issue of the recapitalization of banks.

Angela Merkel ruled Thursday that "there was a need to recapitalize, it would be reasonable to invest money" in terms of what could cost an emergency rescue industry.But she insists on the fact that the Fund will be used to bail out financial institutions on the condition that states can not themselves "to support the recapitalization of their banks' and it puts" endangered the euro area as a whole. "

In fact, Paris Berlin suspected of wanting to directly use the emergency fund to recapitalize banks weakened by the prospect of a debt reduction Greek. "The French have misunderstood the EFSF, decrypts it does in Berlin. Our position is that banks must first seek funding markets, and the side of the national public authorities. Only when there is no money available comes the European level. The EFSF is a tool for countries like Greece or Portugal.If a country like France – among the strongest financially of the euro area – wants to appeal, then this is the door open for all members of the area had ro dig into the fund. "

Berlin suspects Paris

An over-interpretation, says it does on the French side. "We have not yet begun to discuss that!" Do we wonder at the Elysee. At Bercy, it ensures not see fundamental differences with Berlin. "We agree with Germany, said the entourage of the Minister of Economy, Baroin, the fact that more capital into banks, including French," even if only to meet new international standards of Basel III in 2013.Whenever possible, the French banks also plan to comply with without recourse to the capital, let alone the U.S. – by separating certain activities if necessary, by distributing fewer profits to build equity .

But if there had to be re-capitalization, especially to reassure investors, "the sources must first be private," insists one at Bercy. "Ultimately, this should be to rely on injections of public capital." According to Paris, "a European coordination is essential to determine the amount of capital to meet the deadline by which this capital is to be achieved, and the tools for that. " It is on these criteria that France and Germany could agree this weekend.For its part, Brussels will make proposals for a coordinated recapitalization "in the coming days."

Moreover, given the deepening crisis, Angela Merkel has gradually accepted the idea of ​​economic governance of the European Union, defended by Nicolas Sarkozy. Expanding the powers of EFSF part of this process. However, the Chancellor – who imposed hard fought his troops to ratify the Bundestag building – is faced with a majority crossed by a strong current Eurosceptic.

Markets would also like to know more about the technical means to leverage the clout of EFSF. These contain the spread of the crisis heavyweight like Italy, Spain, and Portugal, while the levees are still weak.Should we go further and erase a more substantial part of the Greek debt? Should we consider that the Fund provides guarantees? The German finance minister, Wolfgang Schäuble, at least possible that Germany spends more money than EFSF the 211 billion passed by the Bundestag.

These tensions, it is now the standard mode of operation between Paris and Berlin. Pressure mounts on both sides of the Rhine, until a compromise emerges in a head-to-head at the highest level. Given their respective domestic political weakness or Merkel or Sarkozy can not afford a failure.

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To save their jobs, twelve employees of the Lafarge plant in Frangey, in the Yonne, have chosen the weapon of hunger. They begin on Tuesday the eighth consecutive day without food. Their camp of five tents in which they placed cots, is placed just under the windows of the direction of the cement business of the group at Saint-Cloud in Hauts-de-Seine.

With this strong action, these employees, joined by the mayor of the commune of the Yonne, hoping to push Lafarge to reverse its decision, announced in late May to close their factory. Frangey site, dating back over 80 years and employs 74 employees, should gradually close its doors next year to a permanent closure in April 2013.Lafarge justify its decision with "a local market that is reduced by 40% over-capacity and an inability of the site to produce cement that meets new environmental standards."

The CGT, the majority union in the factory, these sweeping arguments. "The business is viable and profitable. And if the activity of the furnaces is low, it is because the traditional customers come from other sites such as Le Havre. And when asked why they prefer to Lafarge as trucks do 500 km to deliver, they can not be explained, "protested Sylvain Moreno, union leader, who understands that this is part of" the strategy of large ". False, answer a spokesman for the cement, "There was never any agreement between Lafarge and its competitors."

"A pool damaged"

As the situation escalates, Lafarge insists that the closure will be without pay.The group "has provided 100% of reclassification with a job on a site of Lafarge Cement in France," said a spokesman. Other support measures include a support for moving expenses, payment of the new rent for 15 years, or the accompanying spouse in finding a new job. "We want a smooth transition because we understand the emotion and anxiety of employees," said she. "If the goal of Lafarge, CAC 40 company, is close to reclassify, industrial activity in France has fallen very low," said Sylvain Moreno for his part.

Meanwhile in Saint-Cloud, Lafarge claims to be in contact "permanent" with the striking employees who received a "medical assistance, psychological and technical" from the group instant payday loan. Lafarge, which does not want this movement drags on, wants to "find an expeditious solution."But the ground is hard to find since the cement does not reverse its decision so that the strikers call for maintaining a pure and simple activity on the site. "I do not know how long this can last, says Sylvain Moreno. But I know that employees are determined to stay the course. We are ready for us to launch legal proceedings against the group to prove a lack of economic reasons, "said trade unionist.

"What is annoying is that it's 74 fewer jobs in the basin of Tonnerre is already quite damaged. Since 2003, 1,100 jobs have already been lost here, "says Maurice Godard, representative of the local union CGT de Tonnerre (Yonne).

Political turn

An extraordinary central committee (CEC), during which the situation will be discussed Frangey, is expected on Thursday. "There will be others.We want to continue the dialogue process, "says one at Lafarge. "There is no social dialogue, slice Sylvain Moreno, who says that management plans to relocate the appointment for he did not take place in Saint-Cloud," which will result in throwing fuel to the fire, "he warns.

Meanwhile, the movement takes a turn more and more political. Yesterday, Manuel Valls, a candidate for the primary PS, passing the camp, said that "Lafarge is able to maintain this site. This is the direction to move because you have to maintain this site. " Before him, the President of the Republic Standing, Nicolas Dupont-Aignan, came to see these "employees thrown like dogs" on the basis of arguments that "does not hold water."

The movement seems however not have the desired resonance within the company.A call to stop work was issued Monday on other sites but there has been little follow-up, pushing the CGT to regret "what little humanity" by other employees of the group.

Player Figaro BFM

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On the night of Sunday to Monday, an agreement was reached between Republicans and Democrats to raise the U.S. debt ceiling. A favorable outcome that immediately reassured the markets: when Barack Obama announced the compromise to 2:45 Paris time, Asian stock markets – open to this hour – surged after learning that the failure to pay the United States was avoided. The Nikkei in Tokyo rose 1.7% immediately before finishing up 1.34%. Later, in Europe, major indices also showed the green, like the Cac 40 in Paris, which opened up 1.35%, and the ragagnant 3700 points, the Footsie Londoner, who took 1.07 % and the Dax in Frankfurt (+1.5%).

Safe haven, gold subside sees the outbreak of the course, which showed great concern on the part of investors.The yellow metal, which was still worth almost 1630 dollars per ounce on Friday, and is around 1615 dollars fell on Monday.

Immediate response as the currency market, the dollar has suddenly taken against major world currencies, particularly against the yen (the dollar rose from 77.3 to 78 yen per hour), just after the announcement.

Reassured the markets for a while

But around noon on Monday, the dollar back down a little already, one euro was trading against 1.4437 dollars (0.23%). Same against the Swiss franc, another safe haven, which goes back to full speed against the dollar and finds its historical levels of force, to 0.78 Swiss francs to the dollar.

Thus, if the news is welcome, the markets are not won by the euphoria. They are waiting because the confirmation of the plan by a vote, or some Republicans have expressed strong opposition to the agreement.Already on the European stock markets, the increases are bunched together in mid-day. And on Wall Street indices predicted a future increase in the Dow Jones 1.3%. Not enough to make up for the fall of 4.4% registered in the past week.

Markets are also wary because the details of the agreement remain unclear. In addition, the debt ceiling would require a new vote in early 2013, after the presidential elections. Now remains to be seen how the rating agencies will react to reductions in planned expenditure, less important than they hoped. However, they have warned: even if the United States are not lacking, this would not prevent the AAA rating of the country may be degraded.In this case, markets may again sink into depression.

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Restoring the reputation of a Spanish property damaged. A delicate, while prices fell 20% since the outbreak in 2008 of the bubble. In the country, 696,000 housing completions remain unsold officially. So, want to give foreigners to invest in stone Spanish government launches, take heart, a campaign Investinspain. Objective: To prove that the property leaves a phase of "adjustment" to another "recovery". Secretary of State for Housing, Beatriz Corredor, goes on "tour" to the assault of "potential investors" and "influential supporters." After London, before Frankfurt, Moscow and Stockholm, she argued this week in Paris at the ambassador's residence in Spain. Morgan Stanley had, among others, responded to the invitation.

The bank also believes that prices in Spain fall further, by 10% this year.To the despair of the 85% Spanish owners. Far from Paris and its persistent delusions of grandeur, it still insists Beatriz Corredor, the "perfect time" to afford a home in the Iberian sun. With 491 000 transactions in 2010, the market is, she promises, "more stoned.

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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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The CAC 40 remains in the green for the eighth straight time. At midterm, the Paris index ahead by 0.27% to 4118.21 points. As in Japan on Monday morning as investors welcomed the announcement by U.S. President Barack Obama, death of Osama bin Laden. The leader of al-Qaida was killed Sunday by the United States, during a commando operation in Pakistan.

On other European markets, green is also needed, like the Frankfurt Stock Exchange rising from 0.90% to 7582.40 points. The London Stock Exchange will remain closed due to holiday.

In addition to boosting the morale of the operators, this new direct consequence of the dollar to rise against the euro. The single currency was worth 1.4771 dollars around 5:15 that French time (at time of announcement), against 1.4864 dollars shortly before 3 o'clock.Similarly, oil prices, affected by the surge in the greenback, recoil: a barrel of light sweet crude for June delivery lost 68 cents to 113.25 dollars and that of Brent North Sea, also for delivery in June, gives 43 cents to 125.46 dollars. Precious metals also lost ground, reflecting the loose money that 10% to 42.58 dollars per ounce, or gold, which drops to 1546 dollars against a previous record of 1575.79 dollars.

In late morning European currency resumed, however the height against the greenback. About 11 hours in Paris, the euro bought 1.4820 dollars against 1.4808 dollars on Friday night.

Responsible macroeconomic news

In this context, the markets will take time, however, to analyze key indicators of the day.The growth in manufacturing activity in the euro zone accelerated more than expected in April, according to a second estimate of the PMI index published on Monday. The index rebounded to 58 points, against 57.5 points in March, the company said Markit. In France, growth in activity in manufacturing worsened last month, reaching its fastest pace for fifteen months, with beneficial effects on employment, according to Markit.

Overseas, this indicator is also expected. It will be followed by the number of construction spending. Overall, the macroeconomic agenda of the week is loaded.Program: American industrial orders (Tuesday), the PMI service on both sides of the Atlantic (Wednesday), quarterly productivity in the U.S. (Thursday) and particularly, the monthly report on U.S. employment (Friday ).

Values ​​to follow

Altran: + 2.01% to 5.44 euros

Specialist in High Technology Council has exceeded its goals in the first quarter by signing up at double-digit sales (to 387.7 million, +10.1% at constant perimeter) and announced the sale of all its subsidiaries in Brazil.The group also said to anticipate a significant improvement in current operating profit in the first half compared to the same period last year.

Trigano: + 5.26% to 25.41 euros

For the period September 2010 to February 2011, the specialist for caravans and camper vans, achieved an operating profit of 14.7 million euros, against a loss of 0.8 million a year earlier.

Renault: +0.41% to 41.31 euros, Peugeot: 0.72% to 30.88 euros

Renault and Peugeot stand up well despite the announcement of a drop in their registrations by 19.1% and 21.1% respectively in April.

PPR: + 0.79% to 121.70 euros

The group will launch a friendly takeover Volcom priced at $ 24.50 per share.This friendly offer values ​​the company at 516 million euros.

Technip: -0.17% to 76.03 euros

The group has won a contract worth 100 million euros for the engineering and equipment supply and construction assistance for the Horizon Oil Sands Project in Canada, according to a statement released Monday.

Vinci: + 0.23% to 45.20 euros

The group wants to increase the share of concessions in its revenues and will therefore be a candidate for the privatization of regional airports when it is valid, said Xavier Huillard, CEO of construction and concessions, in an interview published Monday by Les Echos.The group will hold its general assembly in early afternoon today.

Fimalac: -0.66% to 30.25 euros

The group will take a 40% stake in Auguri Production, which organizes performances of several famous singers, such as Matthieu Chedid, Vanessa Paradis and Thomas Dutronc, according to a statement released Monday.

GDF Suez will publish its first quarter sales this afternoon.

After market: Areva, CAM, GFI Informatique, Steria and Bollore will publish their quarterly earnings.

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