The French engineering group Egis was selected Monday to modernize one of the main Brazilian airports, as part of concessions for a total of 24.5 billion reais (10, 9 billion euros) granted for the 2014 World Cup and 2016 Olympics.
Conversely, the candidacy of another French group in the running, Aéroports de Paris (ADP), has not been selected, said a spokesman for ADP. ADP filed a joint bid with Schipol Airport (Amsterdam) and two Brazilian partners, she said.
Contracts, for which 11 consortia have submitted bids well above the floor set by the government, focused on the expansion and terminal management at two airports in Sao Paulo and one in Brasilia.
While Brazil is organizing two major sporting events, this upgrade should improve infrastructure and uncomfortable sources of delays.
The concessions were awarded in each case of large Brazilian companies allied to the international airport groups.
Egis Airport Operation, a subsidiary of Egis which is 75% owned by the Deposit and Consignment Office, joined forces with the Brazilian group Triunfo Participaçoes to be awarded the expansion of the airport of Viracopos-Campinas, near Sao Paulo. The consortium will pay 3.8 billion reais (1.7 billion euros) for this contract.
For their part, Brazilian groups Invepar and OAS, in partnership with the South African ACSA, won to 16.2 billion reais (7.2 billion euros) for the concession ; modernize the airport of Guarulhos, in Sao Paulo, the most active and most lucrative of the three sites.
If you need a one-off, urgent cash advance, whatever the reason, there are a few options you can take when looking for cash advance lenders, however the easiest and quickest is the Internet.European markets opened up after the appointment of Mario Monti to form the new Italian government and the cabinet formation Papademos in Greece, which offers fresh hope for a gradual improvement on the forehead of the debt crisis in the area euro.
The government of technocrats being developed in Rome and the national unity cabinet was sworn in Athens are expected to regain some confidence to investors.
"The fact that Italy and Greece have avoided the political vacuum is a good thing. The question is whether the governments of national unity will work", says Katsunori Kitakura of Chuo Mitsui Trust Bank in Tokyo.
The Eurostoxx 50 0.63% progressed to twenty minutes after the start of trade.In Paris the CAC 40 gained 0.58% to 3167.52 points while the Milan stock exchange rebounded 2.1%.
Among banking stocks exposed to Italy and Greece, Credit Agricole, BNP Paribas and Societe Generale rose 2.25%, respectively, 3.66% and 2.12%. UniCredit took 4.42%.
Caution should however be in order before the first real test that will, in the morning, the award of three billion euros of five-year bonds by the Italian Treasury.
The revolt of the Greek people is all governments in Europe under pressure "and" this is only the beginning of a process, "he hoped.
François Bernacchi, vice president of Attac Country of Avignon, estimated that Mr. Papandreou shows "the example it is possible to have a democratic consultation." This event marked the beginning of a "people's summit" because of panel discussions and organized until Thursday in Nice, in response to the G20 Summit this weekend in Cannes, whose center is completed by strict safety device, 30 miles away.
Five arrests
In the morning, three Spaniards claiming a movement "anarcho-punk" and in possession of axes, and two Belgians equipped with steel balls, were arrested in Nice. The first three appear in court Wednesday, the two Belgians were released.
Countries of the European Union agreed Thursday to recapitalize their banks to the tune of 100 billion euros but profound differences between Paris and Berlin on how to reform the fund to support the euro area led again postpone the most important decisions.
At the request of Paris and Berlin, an additional peak in the euro area will be held next Wednesday to not only agree on how to maximize the firepower of the European Financial Stability Fund (EFSF), one of the expected by the market to combat the crisis, but also review the new plan to rescue Greece.
Another failure could undermine investor confidence definitely in the ability of Europeans to put an end to the debt crisis and put them in a particularly uncomfortable position for the G20 summit in Cannes in early November.
The bloc, however, managed to make progress on the bank part of the "global response" they hoped to present Sunday.
Several European sources and banking, they have agreed to inject including 100 billion euros in banks on the continent to strengthen their capital, a move that was expected to take into account the depreciation of the sovereign debt of countries in the euro area.
"The figure was discussed with Member States.It is now acceptable to all, "said a source familiar with the discussions.
The banks will first have to use their internal reserves or market and then to national funds.Once these possibilities exhausted, it will use the funds from the EFSF.
EFSF, GREECE
Faced with the difficulties to agree on the reform of the EFSF and the contours of the new rescue plan for Greece, Paris and Berlin have agreed to this additional meeting of Heads of State and Government of the single currency, in Brussels.
President Nicolas Sarkozy and Chancellor Angela Merkel also announced in a joint statement they would meet on Saturday night in Brussels to discuss the various topics of these meetings.
Regarding the EFSF, Paris insists that the fund receive a banking license, allowing it to access funding from the European Central Bank and increase its capacity for action by a factor of up to five.
Berlin refuses, however, this possibility and is working on an alternative of allowing the EFSF to pay interest on the debt of countries receiving international aid program.
The latter mechanism is far from unanimous among the countries of the euro.
According to several sources, Paris and Berlin are unable either to agree on the amount of the participation of banks in new bailout of Greece.
The German authorities, in particular Finance Minister Wolfgang Schäuble, insist that the envelope of 50 billion euros negotiated on July 21 is significantly revised upwards, if necessary by forcing banks to make an extra effort.
"(Wolfgang) Schäuble is pushing the most for the discount (on securities Greek) goes at least 50% or more," said one source.
According to these sources, the idea made its way to several Member States not to be limited to the voluntary participation of banks, but to force them to a more ambitious plan for Greece.
"Seriously, everyone knows that when you request a discount of 50%, as does Germany, it is not a voluntary decision," insisted one of them.
Another source said that the countries now working on scenarios "aggressive" in reducing the Greek debt.
MARKETS Skeptics
If they divide the Europeans, these scenarios are needed to satisfy the International Monetary Fund, which is concerned about the ability of Greece to manage its debt and is awaiting the results of the summit on Sunday to release the next tranche of aid in Athens, according to three sources.
The position of the IMF, however, should not jeopardize the payment of 8 million euros in Athens in mid-November, otherwise Greece would fail and could result in his fall Spain and Italy, causing a shock of the impact difficult to measure for the European banking sector.
Greece was plunged into recession and debt should continue to rise to 357 billion euros this year, about 162% of GDP, an amount that most economists believe is impossible to fulfill.
As protests continued in Athens, markets greeted coldly this cacophony European hoped after a time earlier this week a prompt resolution of the crisis.
The euro initially fell on rumors of postponement of the summit, he then bounced back when they were denied.
Analysts are also skeptical themselves.
"I do not think they can meet expectations. The results of the summit will be very much less than the big bang that markets needed to be reassured," said Simon Tilford, chief economist at the Centre for European Reform in London.
The French Economic Observatory forecasts growth of 0.8% in France in 2012. Pink is the scenario. The black scenario, if the rigor is increasing: a decline in GDP of 0.5%. View the Ministry of Economy and Finance at Bercy.
Three years after the start of the global crisis, the potential for economic recovery of France will be constrained by budgetary savings plans in the country and its European partners, provides for the French Observatory of Economic Conditions (OFCE). Research Center of Sciences-Po expects growth of 1.6% in 2011 and 0.8% in 2012, while the government expects 1.75% per year.
"This performance is particulièrment poor and far from the normal path of an economy in crisis," said the OFCE in a study released Friday.The rebound potential perceived by the OFCE correspond to a growth rate of 3.8% per annum in 2011 and 2012, which would make up for five years after the crisis began accumulating the output gap. France, then regain its unemployment rate in 2007.
But two external shocks will affect such a scenario. The first, soaring commodity prices, will result in a resurgence of inflation in France and limit spending. It will cause a slowdown in its trading partners, reducing their demand for French products. This shock will reduce growth by 1.3 percentage points over the period 2011-2012. The second shock is linked to policies of fiscal restraint led by European countries.
A recession is not excluded
"In trying to reduce their deficits early, too quickly and synchronously, the governments of European countries run the risk of a new downturn," said the OFCE. The unemployment rate in France is expected to increase steadily to 9.3% and 9.7% end 2011 end 2012, according to the institute. "The low cost of capital discourages businesses not yet set up costly and risky projects", the study also points out, "the investment should not be in 2011 and 2012 an efficient link to make permanent the rebound in growth. "
The OFCE is also considering "a darker scenario" if the government would take "whatever the cost to meet its budget commitments' (deficit down to 4.5% of GDP in 2012 and 3% in 2013), with a decline of 0.5% of GDP in 2012.If the other major European countries were to adopt the same strategy, the activity would fall by 1.7% and unemployment was close 11%, according to the OFCE.
The budget deficit widened further in Greece in September due to a recession driven by austerity measures, in spite of new tax measures that were supposed to increase revenue.
The budget deficit increased by 15% annually, to 19.16 billion euros over the period from January to September, show statistics from the Ministry of Finance released Wednesday.
In September, Athens increased VAT on catering to 23% and began collecting a special tax of 1% to 5% on gross revenues.
However, tax revenues fell by 4.2% over the nine months January to September, after falling 5.3% over a period of eight months.
Scavengers and transport agents have been on strike for eight days in Athens. They protest against wage cuts under the new austerity plan. Their movement caused the accumulation of tons of garbage in the city. Thousands of "outrage" expressed Sunday, June 19 against the austerity of Syntagma Square in Athens.
Athens was again denied Monday transport due to a 24-hour strike, while tons of garbage piled in the streets after more than a week of mobilization scavengers against wage cuts. No subway, bus, trolley and tram, with only the train interbanlieue running, the main lines of the Greek capital was delivered to huge traffic jams, as on several occasions in recent weeks.
Employees of organizations from the metro and buses, which are manifest in the early afternoon in the center of the capital, protesting against investment in short-cuts and new salary, recently announced by the government, under pressure from country's creditors, the European Union (EU) and the International Monetary Fund (IMF). In turn, municipal employees responsible for waste removal began their eighth day of the strike, while the only landfill in the city remained closed. Torrential rains in the morning had drained the garbage on the roads, aggravating the condition of the streets.
Several government agencies, such as the National Agency for Medicines (EOF), the National Laboratory of Chemistry and the Society of IT Management of Social Security (Idika) were also occupied by their staff.To protest against new measures to cut public sector officials have observed a 24-hour strike Wednesday, the day some 30,000 employees of government departments and public bodies demonstrated in Athens and Thessaloniki (north).
A general strike in the public and private sectors is also scheduled for Oct. 19. The representatives of the troika of the country's creditors (Commission and European Central Bank, IMF) Monday also continued their audit of the Greeks, for the discount provided by 24 October of a report based on which area euro to decide the payment of a portion of eight billion euros, vital to the country always on the verge of bankruptcy.
The European Central Bank has not changed interest rates on Thursday, the rise in inflation last month having won on expectations of lower rates in response to the deepening crisis in the euro area.
The refinancing rate remains at 1.5%, the deposit facility rate to 0.75% and the marginal lending rate to 2.25%.These rates have not budged since 7 July, when all three were found a quarter of a point.
President Jean-Claude Trichet will give his final at 12:30 GMT news conference before handing over to the end of Mario Draghi.
The markets are wondering if a possible break leave for the ECB to lower rates anyway by the end of the year or if it will announce the resumption of bidding Long.
Shaken by a drop in subscriptions, the magazine of the National Institute of consumption could increase in the private sector, the risk that its credibility challenged.
While its competitor, the UFC-Que Choisir a hit, the magazine "60 million consumers" has seen its sales plummet by 22% between 2008 and 2011, according to an audit of the accounting firm of MBV & Associates, commissioned by the National Consumer Institute (INC), owner of the title. The erosion is partly due to the termination of a policy of recruiting new subscribers in recent years. Now, to return to profitability, the magazine should flow to 200,000 copies, twice today.result, the UFC-Que Choisir has 420,000 subscribers to 30 million euros in revenue and 60 million consumers of only 100,000 subscribers to 10 million euros.
For MVB & Associates, a status quo would lead to accumulated losses of € 4 million over the next three years, involving the continuity of the title. Conclusion of the firm: the magazine must be backed by the private sector, the only way to inject € 18.5 million for its re-floated. For now, while the parliament is considering a draft law on consumer rights, no decision has been taken and two scenarios are being studied in INC.
Two scenarios under consideration
"Either we are content to mobilize internal resources at the institute who are not fertile and we made a small raise of the subscription.However this can not go very far, "said Francis Amand, president of the board." Either we have a more ambitious recovery and growth capacity, requiring more funding that could come only from a private operator, "he added. A decision could be taken at a board of directors of the INC on 9 November.
The scenario of backing caused an outcry among staff and among some readers, who fear for the independence of the magazine. "Regulators want to get rid of the newspaper." 60 million "can not keep its identity and mission of public service outside of the INC," said Lionel Maugain, staff representative on the board. A support committee was set up by readers and journalists to oppose any backing to the private sector.Thursday, nearly 7,000 people had signed.
"It is difficult to an investor put money in a way that could not provide a lot of sales because the potential reader would think that this title is biased," assured Francis Amand. A charter could also be signed to ensure editorial independence, he said.
"60 million" was founded in 1970 by the INC, who realized that TV shows were not enough to inform the consumer. nitially released under the name "50 million consumers," the magazine is primarily known for its main comparative tests on the appliances. Then he is getting stronger with campaigns that make loud noise on the soaring prices and declining purchasing power, or on the Harms dyes, abuse of trustees and breathalyzers unreliable.A score of journalists working for the magazine, working closely with engineers, lawyers and economists INC.
Sealed by the debt crisis, the decline of financial markets and fears of a global slowdown in activity, the business climate and consumer confidence in France is severely degraded in September, which bodes ill for the changes in investment and consumption.
The INSEE surveys confirm a trend which had already been drafted Thursday early results of monthly surveys of Markit PMI and reinforce the scenario of low growth at best in the second half after the stagnation of spring.
The general index of business climate in France was down eight points to 97 and falls below its historical average of 100.
"The economic climate deteriorates in all sectors except the building," INSEE said in a statement.
In manufacturing, the sector's most closely watched, the decline in the index is six points, to 99, its level of August 2010. The indicator for services for its fall eight points to 95.
Consequence of this strong and widespread decline, the turning point indicator, a barometer of changing trends in the economy, "rocking significantly negative zone," said the National Institute of Statistics.
"It is in three consecutive months of strong decline, it falls below the long-term averages," said Frédérique Cerisier, economist at BNP Paribas."The problem is that when it drops to this speed, we do not know when it will stop!"
The preliminary results of PMI surveys have also revealed Thursday a sharp deterioration in business prospects for the coming months.
And the situation is no better on the consumer side: 80 September, the index of consumer confidence calculated by INSEE fell to its lowest level since February 2009. The details of the survey results including access to pessimism about the standard of living and employment.
"SLOW", "stagnation" or "RECESSION"?
Fell in May in its long-term average, the indicator measuring the decision of households on the evolution of unemployment and relapsed to the level of June 2010.A change of course is not conducive to consumption: the balance of opinion on whether to make major purchases and erase its gains in July and is close to its lowest annual.
Enough to feed the scenario of low growth in the third quarter or fourth.
If the Bank of France is waiting for the moment at least nominal growth of 0.1% of GDP for July-September, economists suggest an even darker scenario.
"It is deteriorating very quickly and give a priori that a year-end close to stagnation," summarizes Frédérique Cerisier, at BNP Paribas."Right now, there is no engine of growth."
Joost Beaumont, ABN Amro, is more pessimistic still "in the end, he says, these surveys show that the economy is now flirting with recession, the euro area as a whole, and they underline once again the need for policymakers to take bold steps to contain the crisis. "
A link between political and economic situation has also highlighted Friday Laurence Parisot, the president of MEDEF.
"We are on the verge of a slowdown if there is no political decisions – at the European level and perhaps even across the G20 – clear, which give direction to economic actors that they are businesses or households, "she said on RMC."Of Staggering Blow Staggering Blow in, we can no longer move, you end up doubting, all collectively."