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.
PSA Peugeot Citroen expects a contraction of the European car market in 2012 although it is still too early to assess its extent, said Thursday the President of the Executive Philippe Varin.
These remarks were made while the Committee of French Automobile Manufacturers has reported a decrease of 7.6% of new car registrations in November. Data that confirmed the difficulties of PSA, whose sales fell 15.4% last month.
"We will be in Europe, probably negative growth next year.How, we do not know, it's too early, "said Philippe Varin told reporters on the occasion of the inauguration of a new production of three-cylinder engines at its facility in Trémery (Moselle) .
The annual production capacity of the new gasoline engine with smaller displacement will eventually reach 640,000 units per year.
The company said in a statement it had invested 717 million euros since the project began in 2008.
Manufacturers currently rely on the "downsizing", that is to say reducing the displacement of their engines, to reduce CO2 emissions equal power.
The first engines produced Trémery equip the future Peugeot 208 will be sold in the first quarter of 2012.
Live: a few hours after the Brussels summit that gave birth to decisions on the rescue of the euro area, L'Expansion. Com offers live to follow the reactions in France and worldwide. Markets, for now, enjoy. The President of the European Commission Jose Manuel Barroso, Portuguese Prime Minister Jose Socrates, the President of the Républilque Nicolas Sarkozy, German Chancellor Angela Merkel, the Lithuanian President Dalia Grybauskaite and Finnish Prime Minister Mari Kiviniemi, at Brussels, 28 in October 2010.
Europe was finally granted for an answer to the crisis in its currency. Among the main decisions taken by EU leaders, the discount of 50% of Greek debt held by private creditors. This represents a total deletion of 100 billion euros of Greek debt, currently at 350 billion euros.
To allow banks to bear these losses, a recapitalization plan of 106 billion euros will be established, which will allow European banks to achieve a capital ratio of 9%.
Finally, the most discussed point dernères this week: capacity to 1,000 billion euros from the European Financial Stability Fund (EFSF). Two mechanisms will be put in place to achieve this amount. The first is a system of guarantees provided by the fund on the bonds of fragile countries (Greece, Italy, Spain …) purchased by investors, which will restore confidence.
The second, which will host a special fund investments from foreign countries, including China, Brazil or Russia. This fund should be "in close cooperation with the IMF," the text.Here are the reactions to the EU summit.
9:51: China welcomes the "European Consensus" should "support market confidence" and breathe "new vitality" to European integration as a spokesman for the Chinese Ministry of Foreign Affairs. Beijing should be involved in the rescue of the euro via the mechanism of strengthening the EFSF. China already holds $ 500 billion European bond analysts said. It has 3200 billion in foreign reserves. Russia – which could also help Europe – show for its "cautious optimism"
9:49: The British Finance Minister George Osborne welcomed the "very good progress" in the euro area, on the airwaves of BBC Radio. He now asks that the European leaders set out the "details".Britain was illustrated last week by demanding to be further consulted on decisions affecting the euro area.
9:31: Daniel Cohn-Bendit called the agreement a "small step". He finds that the eurozone is the book "bound hand and foot to emerging countries" and especially to China. "You can not discuss a protection against social and environmental globalization and ask those with whom you negotiate this coverage to pay for your crisis". It is "a bad solution, politically dangerous," said co-chair of the Greens in the European Parliament.
9:26: BNP Paribas ensures it will be able to reach the minimum capital ratio "hard" of 9% set by the European regulator at the end of June without raising funds on markets
9:15: The World Bank President Robert Zoellick speaks "a milestone" that will "save time"."I hope that this important first step will lead to a broader approach to help the world economy to resume growth," said the president of the World Bank.
9:00: European stocks up sharply
Paris opens up sharply from 2.43% to 3246 points and takes more than 4% in early trade. The Dax gained 3.43%, 1.72% London, Milan 2.7%, 3% and Madrid. The Athens Stock Exchange is 4.9% Bank stocks soar despite the need to give up 50% of their claims on Greece. Societe Generale climbed 13.5%, 12.8% of Credit Agricole and BNP Paribas of 12.7%. In Germany, Deutsche Bank and Commerzbank takes nearly 9% to 7%."These measures could mark convincing the prelude to a rebound in banking stocks in particular French and overly abused since August 2011," strategists believe Credit Mutuel-CIC in a note.
8:27: The agreement reached in the night saved the single currency, according to Economy Minister Baroin interviewed on RTL. "The agreement is a response that night ambitious, comprehensive and credible," said the minister. "That's what will solve the case, that's what we come out of the turbulence, that is what will the economic rebound, that's what will stabilize the euro area and global growth", at he said.
8:19: Alain Minc, an economist and close to Nicolas Sarkozy said on Canal + in Brussels that the agreement "should calm the markets." Moreover, the Economist sent a picnic to the Prime Minister of the second country that threatens to pitch after Greece and Italy."The day falls Berlusconi – which will eventually happen – there is no problem because Italian is a wildly emotional issue and therefore how we set up even appear to be very important," he analyzed the specialist.
8:18: The Tokyo Stock Exchange ended sharply higher than 2%. Investors welcomed the Europe Agreement against the debt crisis in the eurozone.
8:00: The euro briefly reached $ 1.40 after the summit. This is the first time since Sept. 7 that the European currency reaches that level. The euro also rose to make the Japanese currency.
8:00: Daniel Cohn-Bendit calls for "a federation of the United States of Europe" in an interview with Liberation."Today is the economic war, it is the markets, as immoral war is immoral, we impose that choice: give up and go, or move up a gear towards the federalization," says co-chair of the Greens in the European Parliament.
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.
Eviction announced by Pierre-Henri Gourgeon Air France-KLM and the takeover of the group by its president Jean-Cyril Spinetta, could be a lifesaving shock to the Franco-Dutch company, hit by financial indicators in the red and controversial management of the disaster of the Rio-Paris.
In this scenario mentioned in the press Monday, Juniac Alexander, former chief of staff Christine Lagarde, not only would the management of Air France, a decision that was already widely expected, but is positioned to take forward direction General of the entire Air France-KLM.
A spokesman for the group declined to comment, confirming only holding a board in the afternoon and the likely release of a statement later in the day.
Pierre-Henri Gourgeon became Group Chief Executive in January 2009, while Jean-Cyril Spinetta, architect of the merger between Air France and KLM, retained the presidency.
The shelving of Pierre-Henri Gourgeon reached in just over three months after its renewal in early July for a four-year term by the shareholders of the group by an overwhelming majority.
"It's a shock. It is a little surprised because Air France is not a company that used to act like that.However, it is rather good news for Pierre-Henri Gourgeon not really good news to analysts, "said one analyst who requested anonymity.
Around 24:15, the title gained 4.4% to 5.753 euros.It has fallen 62% since the beginning of the year, bringing its capitalization to only 1.7 billion euros, underperforming both the largely German Lufthansa and IAG, an entity formed by the merger of British Airways and the Spanish Iberia.
Pierre-Henri Gourgeon and pay the price for its management of the company, which the French state holds 15.7% stake, which is too much debt, too slow to react and too wasteful, including labor costs well above those of its competitors.
According to press reports, Pierre-Henri Gourgeon Juniac Alexander would have required the newly created position of Chief Executive Officer of Air France as Jean-Cyril Spinetta supported the candidature of Lionel Guerin, CEO of Transavia France.
The catastrophe of the Rio-Paris flight in June 2009, the third serious accident suffered by Air France in a decade, has also raised questions about the technical training of its pilots, after publication of the interim report of the Investigation Bureau and Analysts (BEA).
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).
According to a report published Wednesday, parallel trade in cigarettes leads to a shortfall of 2.7 billion euros a year for public finances. About 50% of that traffic comes from cross-border shopping. About 30% of parallel trade in contraband cigarettes comes from the
Parallel trade in cigarettes poisons public finances. Less than a month after the plan to fight against this phenomenon announced by Valérie Pécresse, three MPs filed Wednesday in the Finance Committee of the National Assembly, a report detailed information on "the tax consequences of illicit sales of tobacco. " And the result makes you cough. Details.
A loss of 2.7 billion euros in state
The shortfall in the accounts of the state is estimated at 2.7 billion euros each year.The report states that 20% of sales of tobacco are outside the formal network, made up of 28,000 tobacconists state-controlled. The deputies focused their attention on two types of trade: sales outside formal network but legal (cross-border shopping, duty free …), and the illegal (smuggling, counterfeiting, Internet purchases, etc.).. The first 15% of total cigarette sales, the other 5%. Untaxed, these two forms of traffic respectively deprive France of nearly 2 billion euros in tax revenues for one and 800 million for the other.
The exception rolling tobacco
The report also draws attention to the more favorable taxation of rolling tobacco. This product is a substitute for cigarettes when their prices rise.The consumption of rolling tobacco is in fact the only increase (9% between 2004 and 2010) and continues to pull up the turnover of manufacturers (16.6 billion euros in 2010, + 27% since 2000).
And also the tax side, the economic consequences are "devastating" the report said. No fewer than 5,000 tobacconists have closed since 2002 in France. The border departments undergo the phenomenon of head-on, sales were down 52% in volume from 2002 to 2010. By way of explanation, the report points including "differences in prices and taxes" in Europe. In the Hexagon, cigarettes cost between 60 cents and 3.30 euros more than in all neighboring countries. And it's not over: 17 October, the prices of packages will grow by 6%. Even if it does not explain everything, the total tax applied to tobacco products is one of the main causes.In France, it is one of the most aggressive in Europe, representing over 80% of the original price.
Cross-border cigarette smuggling accounts for 50% of parallel trade
This environment encourages such cross-border purchases, depressing the French tobacconists. Such traffic is 50% of informal trade of cigarettes, according to professionals. "These purchases are legal. The French government authorizes, for now, consumers to return five packets of foreign countries. But they are expensive to the state. And we must not delude ourselves. Many do not meet the threshold legal, "says the rapporteur Thierry Lazaro, UMP deputy from the North.
To stop it, Members recommend to first "convergence of prices of tobacco with the neighboring states," including by simplifying tax, but also by setting the initial prices in consultation with the countries concerned.The report also urges governments to implement the price increases coming in a measured and steady in the Cancer Plan 2009-2013. The idea is to avoid sharp rises and irregular.
Finally, against the advice of the Government, Members reiterated the importance of maintaining the limit of purchases of cigarettes abroad in five packages. The European Commission recently sued France to the European Court of Justice to prevent the free movement of goods. It calls for the removal of the threshold of five packets. If France and sentenced, the threshold will be deleted, or it will be fined. "Tobacco is not a commodity like any other. It is harmful and addictive. We must insist and keep this limit. Regardless of the European Commission", insists the rapporteur Jean-Marie Binetruy, UMP Doubs.
Haro on smuggling and the danger of counterfeiting
Smuggling (30%) and Internet purchases (20%), a process banned in France, representing nearly all the rest of the parallel trade. Vendors buy illegal cigarettes at low cost abroad, then sell them in France, in the street or on the Internet for example. The report is also concerned about the increasing number of cigarettes made by manufacturers in countries neighboring the EU that do not meet its standards, but also end on the French market. "Smuggling is dangerous for the economy but also for health. There are many counterfeit, especially from Eastern Europe. These cigarettes often contain anything," warned Thierry Lazaro.
The report calls for the launch of an information campaign about the dangers of counterfeiting, backed by the government and tobacconists.Should then increase the traceability of packets to trace the supply chains and where cigarettes are manufactured. MEPs recommend, finally, hardening and improving the judicial arsenal, for the training of magistrates instructions and rulings, as well as the ability to give justice to disable a suspect website time to investigation.
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. "
Liberal Institute Coe-Rexecode proposes to merge the debts of countries rated "AAA" in the euro area, to eliminate differences in rates between the German and French bonds. This solution would also double the capacity of loans to countries facing difficulties.
To stem the crisis in the euro area, the French Institute of Economic Studies Coe-Rexecode Monday advocated the creation of "eurobunds" which would involve the merger of the debts of many countries "comparable" in the area, which France and Germany. Considering the creation of unrealistic eurobonds, often mentioned in recent months, the institute, near the business, suggests the creation of "eurobunds" with "merger for the debts of seven comparable countries in the euro area as are Germany, France, the Netherlands, Belgium, Austria, Finland and Luxembourg. "
The merger could lead to a large pool of securities, nearly 5,000 billion, a priori rated AAA by rating agencies, is the highest rating possible, pleaded Michel Didier, president of Coe-Rexecode, during a press conference. It would have the advantage of eliminating the spreads between the German and French bonds, he said. Moreover, such a "fire power" would "have a strong base of potential loans to the peripheral countries" beyond the potential 500 billion of loans from the European financial stability. Which, according to Coe-Rexecode, is likely to cut short the threat of contagion from the debt crisis.
Subsequently, "there would still address the problem of divergences in competitiveness" within the euro area, insisted Michel Didier.Considering the current stock market crisis "clearly European," the institute said that the problems of public funding can be resolved, thanks in part to the European plan adopted July 21, which is "appropriate". But "other scenarios are much worse now possible," he warns. "A sovereign default would lead to poorly controlled behavior very restrictive economic actors (reports of investment projects, increase household savings rate …) and lead to a true European recession," said the institute.
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.