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.
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 activity in the private sector in France shrank in October for the first time since mid-2009, according to first estimates released Monday by Markit PMI, which indicate a risk of recession.
The PMI "flash" composite fell to 46.8 from 50.2 in September, falling below 50 which separates growth and contraction and reaching its lowest level in 29 months.
The services index goes well below this bar to 46.0 from 51.5 in September, reaching its lowest level in 27 months.
The PMI industry has, however, rose slightly to 49.0 from 48.2 in September, the activity still continues to contract.
Economists polled by Reuters on average expected the services index and an index to 50.5 from 48.0 in the industry.
"The economy went into decline early in the fourth quarter," said Jack Kennedy, economist at Markit. "Clearly, the impact of the European crisis on the real economy hits hard, demand and confidence were affected."
"At these levels, the PMI figures imply a quarterly contraction of around 0.5-0.6% sensitive," he says. "A recession may be coming unless we see a quick turnaround," said he.
Flash PMIs are calculated on the basis of about 85% of the responses of the sample followed by Markit, composed of 750 companies in services and manufacturing.
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 resident of Calvados in September which won the sum of 162 million euros in the Euro Millions became known to the French Games. He was thinking of "investing in the French economy." If the Euro Millions grid costs two euros across Europe, certain terms of games vary from one country to another.
The winner of the jackpot of 162,256,622 euros in the Euro Millions draw of 13 September, which had approved the ballot in Calvados, became known to the French Games (FDJ) and received his check, said Thursday morning the JDF in a statement.
This player, who wishes to remain anonymous, has the highest gains in French Euro Millions and all-time record earnings in a money game in France.He "thinks about investing in the French economy", or to real estate projects adds the JDF without elaborating, at the request of the player, on the date of payment or the locality where the Calvados has been validated winning newsletter . {P}
He who led the PS group in the Senate for seven years was elected by his peers Saturday President of the Upper House of Parliament. He promises to respect the opposition. Jean-Pierre Bel, an elected Ariège, 59, was elected on October 1 by his peers first socialist president in the history of the Senate.
Jean-Pierre Bel, an elected Ariège, 59, previously unknown to the general public, was elected the first Saturday in October by his peers first socialist president in the history of the Senate and became the same time the second character of the Republic. President of the Socialist Group in the Senate since 2004, he burst onto the front of the stage with the unusual shift to the left of the second chamber of Parliament during the renewal Senate last Sunday.Candidate of the new Senate majority PS, PCF, PRG, EELV, he was elected on the first ballot by 179 votes against 134 votes for President outgoing UMP Gérard Larcher, and 29 votes for the former Secretary of State François Fillon, Valérie Létard, centrist candidate. Jean-Pierre Bel got seven votes more than the absolute majority of votes cast in the individual and secret vote in the gallery.
After receiving félications Gerard Larcher, Jean-Pierre Bel delivered his first address as president. "We also heard the deep anger" of the territories of the Republic "for" have been stigmatized, disoriented, perhaps abandoned their face immense difficulties, "he said. He announced the meeting" soon "to States General of elected officials.'s voice choked with emotion, he paid tribute to his family, and communist resistance, and its southwestern region."We will not go into some sort of bastion," "I'll never be there to serve a clan or a Customer: I want always to turn to the collective interest," promised the sixth President of the Senate since the beginning of the Fifth Republic. He called for a "refurbished bicameralism in which the opposition will be respected." It could well be left to the right as President of the Committee on Finance.
François Rebsamen likely chairman of the PS in the Senate
The first task the new president will also get on with the new governance of the Senate, a site not easy given the narrowness of his majority, 177 elected, two more than the majority. No political group will not hold its own. He expressed support for lowering the threshold for the creation of groups of 15 to 10 senators, as claimed by the 10 senators EELV.This may allow the RDSE (mostly PRG), which had 16 members to survive the departure of its three senators on the right, including Jean-Marie Bockel (GM), who joined the centrist group. It will also order of battle group PS with a new president should be the senator and mayor of Dijon, François Rebsamen.
Prime Minister Francois Fillon has asked "to meet him at Matignon in the coming days." During their telephone conversation, Mr Fillon told him "that he wished the government and the Supreme Assembly to work in a climate of responsibility." Martine Aubry welcomed her as a "great day" for the Republic and "victory rally" of all those "who want to change in our country."For the Mayor of Lille, "the election of a Socialist President shows the frustration of elected officials in the field who are tired of being despised by the outgoing President and see every day our Republic a little damaged." François Hollande, a favorite of the primary PS, said he was also "happy" with the election of his "friend" to the presidency of the Senate, seeing "the consecration of the story of a man who gave a portion of his life to activism. "
The trial of Michael Jackson's doctor will soon bring the light of the circumstances of the death of the King of Pop. It is also an opportunity to revelations gains post-mortem of the star and use. Michael Jackson has reported nearly 400 million since his death June 25, 2009.
Two years and three months after his death, Michael Jackson continues to be talked about. The trial of the doctor opens Tuesday in Los Angeles. Conrad Murray is accused of manslaughter for having administered a powerful anesthetic June 25, 2009. But the trial is also an opportunity to shed light on the business post-mortem of Michael Jackson.
A hoard of 400 million
According to a report filed with the court a few days ago by the two executors of Michael Jackson, John Branca and John McLain, the gains of the singer since his death amounted to $ 310 million.And again, this sum is it terminated in December 2010. "Since then, commercial sales have continued to report additional income," specify the executor without giving the amount. According to Forbes, his total income would be close in fact $ 400 million, after the commercial success of his posthumous album "Michael" (3 million records) and sales of the DVD "This is it."
The singer's productions are not the only source of income. The catalog of songs owned by the company and Sony Jackson, valued at $ 1.5 billion, would yield each year between 50 and 100 million to two companies.It includes a half-million songs including 250 Beatles songs, titles of Bob Dylan, and Elvis Presley.
A fortune used to offset debts
The financial windfall of the singer in particular was used to pay the huge debts accumulated by Michael Jackson. And there were many. The Wall Street Journal has even mentioned the $ 500 million in the aftermath of his death, but this was not confirmed. He owed money to "tens of debtors," said the report simply the executors. Of the total 310 million won, "159 million was spent to pay the debts, maintenance of children and to cover funeral costs," Forbes understands.Canadian newspaper The Winnipeg Free Press said that some of the debt has been mopped but some creditors are still demanding their money.
Jackson claims his family heritage
Part of the remaining amount will soon return to the family of the singer. According to the document, John Branca and John McClain, the heirs have requested the release of $ 30 million. This amount will be divided between the mother of Michael Jackson, Katherine, and three children of the singer, Paris, Prince and Michael Joseph Junior, custody of their grandmother since the death of the artist. Another part will be allocated to charities, but the text does not mention who they are or how much will be allocated. In addition, the document states that $ 30 million will be only the beginning, other unlocks should come later.
The text adds that Katherine Jackson would sell the family home in Encino Hayvenhurst. It has not yet been estimated but it was worth $ 4.15 million in 2010. The family should take a much higher price, after making many renovations inside. The judge in the case must approve such requests on Wednesday.
Jackson brand: a bottomless pit?
The revenues of the star continue to benefit from the huge wave of nostalgia that has gripped the world after his death June 25, 2009. U.S. magazine Billboard have estimated the first anniversary of his death that the singer had reported $ 1 billion of revenue to the various cultural actors in the sale of CDs, movies, ringtones by phone, or even video games …
The effects on sales, however, should stabilize in the coming years, says Forbes.But nothing to worry about the Jackson family. According to the calculations of the magazine, the singer's earnings could be between 75 and 100 million dollars a year. Enough to leave Paris, and Prince Michael Joseph Junior freedom from want for a few years …
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."
Wall Street closed in fall of 3.68% Thursday against the backdrop of gloomy statistics for U.S. growth and sharp decline in banking stocks, hit by fears of contagion from the debt crisis through the U.S. subsidiaries of European banks .
The New York Stock Exchange ended down 3.68% Thursday, the Dow Jones industrial yielding 30 419.63 points to 10,990.58 points.
The S & P-500, wider, lost 53.24 points, or -4.46% to 1140.65 points.
The Nasdaq Composite fell on its side of 131.05 points (-5.22%) to 2380.43 points.
The CBOE volatility index, also known as the "fear index," jumped 37.62%.Since April 29, the S & P 500 has lost about 16% of its value, investors moving away from risky assets in this uncertain economy.
In Europe, the European stock markets saw another black day and extremely volatile.The Euro Stoxx 50 has dropped 5.3% while the implied volatility of index pan jumped 34.6%.
The macroeconomic picture in the United States has further clouded Thursday's jobless claims rose more than expected last week, the Philly Fed index in August hit its lowest level since March 2009, home resales fell against unexpectedly in July.
The weekly jobless claims rose in the United States during the week to August 13, at 408,000 against 399,000 (revised) the previous week.
In addition, Morgan Stanley lowered its growth forecasts for the global economy for the years 2011 and 2012, the revision is stronger for developed countries.
As in Europe, banks were particularly affected, the S & P financials fell 5% and the KBW bank index of 5.63%.
The Wall Street Journal reported that the Federal Reserve Bank of New York accentuated his investigations on the U.S. subsidiaries of major European banks, fearing that the debt crisis in Europe will be transmitted to the U.S. economy through them.
And what the boss of the New York Fed's William Dudley, who responded by saying that the central bank treated "exactly the same way" the U.S. and European banks, have it seems not enough to reassure investors.
Citigroup, Bank of America, JPMorgan Chase, Goldman Sachs and Morgan Stanley, respectively, showed a decline of 6.26%, 6%, 3.77%, 3.5% and 4.76%.
Values highly correlated to growth have also suffered greatly, securities IBM, United Technologies and Oracle declining by 4.46%, 5.45% and 8.3%.
Finally the title Hewlett-Packard unscrewed from 6% after the announcement of the takeover of British Autonomy and a possible split with its business PC sales history. The group also released its quarterly results and lowered its annual forecast.
The CEO of Publicis, Maurice Lévy, the French hope that the richest pay an outstanding contribution to participate in the national effort to reduce the deficit. The CEO of the advertising group Publicis, Maurice, in December 2010.
The President of the French Association of Private Enterprises (Afep), Maurice Levy, said he favored a "outstanding contribution" of the highest incomes to reduce the budget deficit of France, in an article in Le Monde newspaper published Tuesday. Calling for an "outstanding contribution of the richest, most privileged, the wealthy," the CEO of Publicis, considers "essential for the solidarity effort begins with those whom fate has preserved."This recommendation echoes that of billionaire investor Warren Buffett, who on Monday called on U.S. lawmakers to raise taxes for the wealthy to reduce the huge budget deficit of the United States.
In its platform, Maurice Levy says will include "all those who can by their means necessary to participate in this national effort" and not just CEOs. The government intends to introduce a windfall tax from 1% to 2% on income tax reference than one million euros. The device will be stopped by the end of September.
To achieve the reduction of public deficit, the president of the Afep also stresses that it is necessary "to cut as much spending as planing or remove tax loopholes."Other measures that advance figure "a deep reform of our administrative structures and social systems", without further details. "This is to bring the deficit to zero and to reduce the tax burden to bring them to the European average," he adds.
About the golden rule of balancing the budget, he "regrets" that it "is not universally supported by all political" because "it is in the future of our country." This "golden rule" is planning to include in the Constitution the principle of "framework laws to balance public finances," who plan on at least three fiscal efforts that France must provide to restate its accounts.This constitutional reform remains to be adopted by a majority of three fifths by the deputies and senators met in Congress at Versailles, while the opposition, denouncing a communication operation of the government, refused to vote.