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 have bad credit, you may have problems getting a loan from these places, or they may charge you such a high rate of interest it is not worth it. Instead, consider your other options, such as a cash loan from a payday loan company.Statements are increasing demand for greater involvement of the European Central Bank in supporting countries' debt fragile. Germany opposes even his veto. But until when? German Chancellor Angela Merkel.
The list of support for bold action from the European Central Bank (ECB) on the European debt grows by the day. On Tuesday the United States have supported through the U.S. ambassador to the European Union. William Kennard suggested essentially the ECB to take as an example the action of the Fed during the crisis. Much more direct, the former head of Credit Lyonnais Jean Peyrelevade said that "if one does not involve the ECB, while Petera." This does not prevent the leaders of the Central Bank to resist these demands, aided by Germany, its largest shareholder.
The new Italian Prime Minister presented his austerity plan to rescue the country from the grip of the market. Mario Monti – who is also Minister of Economy – promised to keep the accounts of Italy, while stimulating growth for the time being very sluggish. Mario Monti.
The new Prime Minister Mario Monti on Thursday presented a very ambitious program of austerity and recovery to restore "credibility" of Italy and help save the euro in a European Union through its worst crisis of the post the war. "Discipline, Growth and Equity" are the great watchwords of Mr Monti, which was the first speech programs before the Upper House of Parliament before it obtains in the late evening with confidence 281 votes support of 307. The vote of confidence of the members are expected Friday and should get on this occasion also an overwhelming majority.
Greek banks erase their losses Thursday morning as investors bet on a drop of the referendum on the bailout of the country in case of fall of the government.
Banks, who lost up to 5% at the opening, gaining nearly 2% to 10:20.
"Given the developments of the last hours, the possibility of a referendum was removed and the top priority is now the sixth tranche disbursement of aid and approval" of the rescue plan EU says Natasha Roumantzi, an analyst at Piraeus Securities.
George Papandreou Thursday called an emergency meeting of his cabinet at 11:00. The head of government is under fire from critics since he announced Monday night to hold a referendum.
The stock exchanges of Paris, Frankfurt and London have opened up Friday, after falling the previous day as investors hope for feeding a step towards resolving the debt crisis. In Paris the CAC 40 index advanced 0.8% shortly after the opening.
The European banking sector shows some of the strongest performances, gaining 2.4%.
"Investors remain optimistic about a favorable outcome to the debt crisis in Europe.Markets are driven by the hope that the leaders agree on 23 October a viable solution to turn the EFSF, recapitalize the banks and save Greece (…) European leaders could announce release a sum of 940 billion euros to fight against the crisis "Saxo Bank in a note.
At the request of Paris and Berlin, an additional peak in the euro area will probably 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.
The Tokyo Stock Exchange ended down slightly from 0.04%.Title Olympus closed on a new fall of 6.81%, yielding about 50% of its value since October 13.
The euro turned down against the dollar and the price of U.S. light crude continues to rise.
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 them to re- postpone the most important decisions.
This Friday is held an extraordinary meeting of European finance ministers for the summit on 23 October.
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.
Tensions in the interbank market have an impact on the real economy. Nearly a third of French banks have tightened their criteria for business loans. And the movement should be extended.
Credit conditions for firms have tightened slightly in France in the third quarter, according to a survey by the Bank of France to the banks, which provide a greater tightening in the fourth quarter.
The balance between the institutions reporting a tightening and those seeing a relaxation reached 28.5 in the third quarter, according to data released Friday. This is the first tightening since the second quarter of 2009.
The hardening observed is almost the same for large businesses (28.8) and SMEs (28.5).The period from July to September, "the criteria for granting loans to enterprises were tightened more than expected in the previous survey," notes the Bank of France. "This hardening, attributed to both balance sheet constraints and bank financing to the rise of their risks, is reported by less than a third of them and spoke mainly in quarter-end," said the institution.
Banks and particularly given the tightening tensions they encountered to finance markets and the prospect of entry into force of the new regulatory framework Basel III said, in favor of a strict control of the size of balance sheets and thus the volume of loans. This tightening of credit conditions has been accompanied by a decline in business demand, more sensitive SMEs (balance -33.2) than large firms (-15.1).
More worrying for the economy, the banks see these two tendencies assert themselves in the fourth quarter.
The last three months of the year, the institutions surveyed foresee a further tightening (net 41.6), the strongest since the third quarter 2008, which corresponded to the financial crisis. The banks provide the same time, a further slowdown in demand for corporate credit (negative balance of 34.6).
Greece hopes to conclude an agreement Tuesday with its international donors, so you can receive a new tranche of eight billion euros scheduled for October, told Reuters on Monday a senior Greek finance.
"The climate was better than expected," the official said, referring to a conference held on Monday between the Finance Minister Evangelos Venizelos and the "troika" (EU, IMF, European Central Bank).
The Ministry of Finance said earlier that this discussion had been "productive and substantial" and that it be repeated Tuesday night.
"We are close to an agreement and we hope to conclude tomorrow.The government will make an announcement likely on Wednesday after the cabinet meeting.We will continue the discussion tomorrow, "the official added.
Without this new tranche of aid, tied to the forefront of international bailout which Greece received last year, the Greek government said it would find itself short of resources in mid-October.
To avoid this, Greece has to reduce its public sector and improve its system of tax collection, consider its international donors.
"The ball is in the Greek camp, the key lies in the implementation of reforms," said Bob Traa, the IMF representative in Greece, at a conference.
These reforms are required to Athens to collect a new tranche of eight billion euros in the first part of its bailout.
According to him, Greece has cut jobs in the public, reduce the salaries and pensions of civil servants and improve its system of tax collection rather than creating new taxes.
Bob Traa was concerned about the lack of public support for the IMF austerity program / EU, while saying that other countries in the euro zone were on the side of Athens, provided that the government showed that he was acting to control its deficits.
FIVE MEASURES
The euro, but Wall Street had cut their losses after an initial source of the Greek Ministry of Finance had said that an agreement was near on aid between Athens and the troika.
Earlier in the day, the euro was down sharply and European shares closed down for fear of a significant failure of Greece.
Greek media have published a list of 15 austerity measures that they believe the troika requires the implementation.They include a new deletion of 20,000 civil service posts, a reduction or a freeze on salaries and pensions of the public service, increasing the tax on heating oil, the closure of public deficit, reducing spending on health and accelerating privatization.
The EC stated that it did not ask to Athens to adopt austerity measures in addition to what has already been agreed in the reform program of government."What is on the table is in full compliance with the agreed objectives," said the spokesperson of the EC Amadeu Altafaj.
Asked whether Greece would receive the next tranche of aid, Venizelos responded to Reuters: "Yes, of course."
Even so, many economists and investors believe that Greece will end up in default on a debt that reached more than 150% of GDP, perhaps a few months.
Venizelos insisted on Sunday that the spending cuts would be the priority of the 2012 budget. He predicted a contraction of GDP higher than expected 5.5% this year.
The Strategic Investment Fund (ISF) announced Tuesday it had invested 4.1 billion euros in French companies since its launch in 2008.
These sums have been invested in the form of direct interests in companies to the tune of 2.8 billion euros and 1.3 billion through sector funds like the Fund to modernize the automotive (FMEA) for the sector or InnoBio Biotech.
These investments correspond to a cruising speed of 1.7 billion euros a year, yet indicated the ISP.
With 20 billion euros in capital, the sovereign fund "French" was launched in late 2008 crisis to invest capital in companies deemed strategic and promising growth.
It is 51% owned by Caisse des Depots and 49% by the French State. If the two shareholders have yet to bring him 3 billion euros in cash, an amount of 1.5 billion euros has been allocated as a long-term loan from the savings fund, which manages funds A. Booklet
In particular, the ISP back to the capital of French companies such as STMicroelectronics, Vallourec, Soitec and Gemalto.
The media group News Corp. and movie has awarded its CEO Rupert Murdoch and son James of large increases in wages, but James said Friday waive his bonus, highlighting the controversy the illegal wiretapping of British tabloid News of the World.
The annual premium, announced Friday, would have increased the compensation of James Murdoch to 73%. His father, aged 80, received a 47% increase, bringing its total earnings to $ 33.3 million.
James Murdoch was to receive a payment of 17.9 million, with the bonus of six million. He will receive 11.9 million.The premium for his father is 12.5 million.
Vice President Chase Carey has seen its fee increase by 16% to $ 30.2 million.
As head of international affairs, James Murdoch is under fire from the media and the public since the revelation of the scandal at New Plays of the World July 4.
That same day, two longtime directors have announced their intention to leave the board. This is Thomas Perkins, who turns 80 this year, and Kenneth Cowley, 76. Jim Breyer, 50, will seek election to the board.
James Murdoch said he would consult with the Compensation Committee "to see if any premium might be appropriate at a later date."