The free electron Arnaud Montebourg was appointed Minister of Productive Recovery, a new song for the important figure of the left wing of the Socialist Party. Arnaud Montebourg
Arnaud Montebourg, 49, was appointed minister of Adjustment Wednesday productive, a role he had foreshadowed a "tour de France plant" made in the name of Francois Hollande during the presidential campaign. It will be flanked by two junior ministers, Fleur Pellerin (SMEs, Innovation and Digital Economy) and Sylvia Pinel (Crafts, Trade and Tourism).
Born October 30, 1962 at Clamecy (Nièvre), that great admirer of Gambetta, son of a butcher and a professor in the Algerian origins, became known as a leading lawyer in battle against Alain Juppé in the case of his apartment the City of Paris in 1995.
Activist of the PS since 1981, elected deputy of Saone-et-Loire in 1997, this speaker is trying to clear facilities in vain, in 2001, full cohabitation, Jacques Chirac to appear before the High Court.
With Vincent Peillon, the fiery MP founded the New Socialist Party (NPS). Their current gets nearly 17% of the votes in Congress in Dijon in 2003, with a slogan: the Sixth Republic, and more power to Parliament.
Voting "no" to the European Constitution in 2005, it is close to Ségolène Royal, it hosts in September 2006 in the "Feast of the Rose" in his constituency.
Gala magazine publishes a portrait of this man with shoulder-length brown hair, thin and always elegant, titled "The Playboy of Ségolène" conversation pieces. Mr. Montebourg, claiming he was duped, assigns the magazine.
Invested candidate, Ségolène Royal is designated spokesman, but suspends the month: on Canal +, the new Minister of Productive Recovery was told that the only flaw of the socialist candidate was his companion, a … Francois Hollande. "We laughed with Ségolène", he relativizes years later.
Montebourg often attacked Francois Hollande, who owes him the nickname "Flanby". The deputy of Saone-et-Loire also spoke of "cowardice" about supporters of the "yes" to the European Constitution in 2005, before turning back at the express request of the then First Secretary.
Ardent opponent of multiple directorships, Montebourg becomes "believing but nonpracticing" by appearing at the cantonal elections in his department, which led him to the presidency of the General Council in 2008. In early 2011, he announced he will not seek a fourth term as an MP.
With primary theorist Olivier Ferrand (Terra Nova), the fiery MP Aubry threat to resign if he does not succeed in 2009 for organizing this new process. "I had my dress emerged avocado eaten by moths," he says. First secretary finally agreed.
Himself a candidate with a small team, Montebourg campaigned on the left wing, defending the "de-globalization" or, according to his many opponents, a neo-protectionism that dare not speak its name. Result: 17.2% of the vote. In December 2011, he created the stir by denouncing "a policy that Bismarck" Angela Merkel.
Happy white knight, he denounces the business federations PS Bouches-du-Rhone and Pas de Calais and demanded to DSK "apologize to all the left".
PS, some criticize this "preacher of morality," its "excesses in the attack." His third place in the primary, however, gives him the role of a kingmaker who choose to personally Francois Hollande. The presidential candidate will make his "special representative", in charge of a factory tour of France. He joins the transition services of a relative of Mr. Montebourg, Aquilino Morelle, now political adviser at the Elysée.
Separated father of two, Arnaud Montebourg is the companion of Audrey Pulvar journalist, with whom he filed a complaint for assault in the streets of Paris in March.
The insurance group Axa announced Friday a stable revenue for the first quarter of 2012 and said he hoped to have decided the fate of its private equity subsidiary, Axa Private Equity, of By the end of the year.
Axa has confirmed the end of September to have committed "a strategic review" for the national champion of private equity but talks with potential buyers seem to have since stalled. (And see)
"A priori the outcome and the results of this strategic review, it is hoped that this will be completed before the end of the year," said Chief Financial Officer Gerald Harlin at a conference call to discuss the indicators of activity of the group for the first three months of the year.
The fate of this subsidiary represents some economic issue for France, say some observers.
Axa Private Equity is indeed a major investor in the territory and its French base becomes even more desirable for new financial rules could scarce investment capital in companies.
The essential part of its business, the French insurance giant announced a turnover up 0.8% to 28.056 billion euros for the first quarter.
The growth in business damage (3.3% to 9.973 billion euros) offset the virtual stagnation of the life segment and Savings (-0.2% to 15.956 billion of euros) and a lower turnover in the management of assets (-9.6% to 827 million euros).
Gérald Harlin said these results were in line with the strategic plan for 2015 presented by Axa last year.
This plan would redeploy some capital to the group of high-growth markets and, more generally, to focus on margins and volumes.
The CFO also said that the situation in Greece and the euro area was creating a climate of "volatility" in financial markets but in Axa took full account.
"It positions itself especially on segments that are least sensitive (…). This is why we are fast growing activity on the protection, welfare," at he said.
He nevertheless admitted that the life insurance segment continued to suffer from macroeconomic conditions in Europe.
"We're in a world of low interest rates and are done with," he concluded.
E.ON, the first group of German utilities, announced Wednesday a quarterly sales better than expected, the good performance of trading and renewable energy production offset declines production related to the abandonment of nuclear power in Germany.
The group recorded a 28% increase in sales to 35.7 billion euros, higher than the 30.14 billion euros predicted by Thomson Reuters SmartEstimates.
The group said last week it had earnings before interest, tax, depreciation and amortization (EBITDA) of approximately 3.8 billion euros, and net current of about 1.7 billion.
"These figures are not spectacular, but they are good," said one trader. The action was reported up 0.9% in transactions before trading.
The turnover of the trading subsidiary of the group rose 37% to 27.5 billion euros while the production of renewable energy generated sales up 7% to 617 million.
Since the beginning of the year, as E.ON has lost over 6%, impacted partly by its heavy exposure to nuclear power, while its main competitor RWE gained 18%.
U.S. courts ruled inadmissible two complaints against the rating agencies Standard & Poor's and Moody's, accused of misleading investors about the safety of financial assets on derivatives debt markets.
Judge Shira Scheindlin in Manhattan federal However limited the scope of these two complaints, finding that the offenses of incitement to fraud, negligence and breach of fiduciary duty were not founded ; es.
Stay the proceedings for deformation of agency activities relating to investment products in question, known as Cheyne and Rhinebridge.
The plaintiffs, including the Commercial Bank of Abu Dhabi, blame Moody's Investors Service and Standard & Poor's losses related to bankruptcy Product Cheyne in August 2007. Investment product Rhinebridge him collapsed a year later, in August 2008.
In both cases, the plaintiffs accused the rating agencies to have worked with banks for financial products that have a triple A, the highest credit supposed to guarantee a free investment risk, whereas these derivative investments were backed in part on credit "subprime" high risk.
The Fitch is also concerned by the complaint Rhinebridge.
The decision of Judge Scheindlin was taken Friday but was released on Monday.
Tony Mirenda, a spokesman for Moody's, said the complaints were unfounded, and that still recent allegations would be considered inadmissible in turn.
Standard & Poor's, John Piecuch, spokesman, said similarly that the latest complaints were inconsistent with previous court decisions.
The UK manufacturing growth slowed more than expected in April, demand from the euro area has declined significantly, shows a survey released Tuesday, hinting that the recession risk to be longer than expected.
The Markit / CIPS purchasing managers (PMI) thus fell to 50.5 last month against 51.9 (revised) in March. This figure, the lowest since December, is below the expectations of economists who had expected 51.5.
It remains above the 50 mark that separates growth and contraction, in contrast to similar data in the euro area.
Official statistics released last week showed that the British economy had plunged into recession in first quarter, which could further increase the difficulties of coalition government David Cameron.
If he departed from Areva, it's because she was unable to work with EDF, said President candidate. It also ensures that the government never considered selling a nuclear power plant in Gaddafi's Libya. Lauvergeon and Nicolas Sarkozy in New Delhi, December 6, 2010.
New episode of the clash between remote Nicolas Sarkozy and Anne Lauvergeon. Incumbent President said Tuesday that it had terminated the functions of Anne Lauvergeon at the head of Areva because she was "unable to work in harmony with EDF". "Ms. Lauvergeon, we asked him to leave his post for some reason is very simple, was that she was unable to work in harmony with EDF, "he said on France Inter.
Asked about its incompatibility with the current CEO of EDF Proglio, considered close to Nicolas Sarkozy, the head of state assured that "with the previous (Gadonneix, ed), it was exactly the same thing ". Ms. Lauvergeon "did everything to remain as head of Areva," she "came to me countless times," he insisted, "if it had been in disagreement with the policy as I was driving to the nuclear, one wonders why she wanted to stay. "
"This is someone I respect, I kept at the head of Areva that I had even known (…) we can not say that he mistreated her," continued the President UMP candidate and confirming that he was offered a post in his government. "See Ms. Lauvergeon now explain how she suffered with me, when she was a president of Areva who wanted to stay, who wished by all means remain president of Areva, all these people who, once that they left their posts, say 'my God as we suffered when + they wanted to stay, it's pretty outrageous, "he – he concluded.
In an interview last week in the weekly L'Express and a book, Ms. Lauvergeon, old Sherpa of François Mitterrand, ousted in 2011 by the Government of the head of champion French nuclear company, denounced the methods of the CEO of EDF Proglio, reveals some of his conversations with Nicolas Sarkozy, accusing the government for consideration until 2010 to sell a nuclear reactor to Libya's Colonel Gaddafi. Again, Nicolas Sarkozy denies.
"I have not consorted with Gaddafi"
"There was never a central issue to sell to Mr. Gaddafi and let me tell you that if there is a head of state who in the world, has not paved with Gaddafi and is responsible for his departure and what happened to him, I think maybe it's me, "Sarkozy said in response to a question from a listener on France Inter. When visiting the controversial Colonel Muammar Gaddafi in Paris in December 2007, the Head of State announced to reporters, after an initial interview with the Libyan leader that France had signed the signature of "tens of billions" of euros of contracts with Libya …… These agreements
…, he cited "collaboration contracts for desalination of seawater with a nuclear reactor for armaments cooperation, different economic contracts ". Lauvergeon accused the government of having planned until 2010 to sell the nuclear reactor. "This is a blatant lie (…) it has never been involved," insisted Tuesday Nicolas Sarkozy, "I remind you that if Benghazi was saved and if Gaddafi is gone, it is because that France intervened. " "There is still a logic. We can obviously angry with me for a whole bunch of things but we can not blame me for the inconsistency. In Libya it is France that led the operation, it is France with the UK, "he said.
"So, between those who say that Gaddafi paid my campaign, the other we wanted to offer a nuclear power plant, do you really think I would have done this if it was all true?" concluded the incumbent president and candidate of the UMP. The information website Mediapart published in March a note suggesting that the former Libyan leader Muammar Gaddafi has funded a 50 million euros the 2007 campaign of Nicolas Sarkozy. The President had called the accusations "ridiculous".
When moving to Tripoli in July 2007 Nicolas Sarkozy, France and Libya signed a memorandum of agreement on civil nuclear aim of which was, according to the secretary general of the Elysee Claude Gueant of the time, "to provide to Libya a nuclear reactor that allows the provision of drinking water "in seawater déssalinisant This agreement was widely criticized, especially from France's partners such as Germany, and left in environmentalists who saw a proliferation risk. Some had even suspected this Agreement to be consideration for the release of Bulgarian nurses held in Libya, which the Elysée has always denied.
The CAC 40 closed sharply lower, 2.47%, amid concerns about the situation in Spain and Italy, while the slowdown in Chinese growth is stronger than expected. Traders at the Frankfurt Stock Exchange.
The Paris Stock Exchange closed sharply lower Friday amid concerns persist about the situation in Spain and Italy, and while the slowdown in Chinese growth is stronger than expected. The CAC 40 gave 2.47%, passing under the 3200 points to 3189.09 points, in a trade volume of 3.697 billion euros.
On other European markets, Frankfurt fell 2.36% and 1.03% of London. The Eurostoxx 50 index lost 2.58% on its side. "We broke a very important technical level, that of 3200 points, this does not bode well. We will start next week in very bad disposition, "warned Frederic Rozier, manager of equities at Messchaert Private Banking Growth Slows
.
The Chinese trend has been sealed, early interactions, confirmed by the slowing of Chinese growth, which reached its lowest level in almost three years (+8.1% yoy in the first quarter). "Investors not expect a downturn as fast. It should be remembered that any slowdown in China has a strong impact on the global economy, "said Mr. Rozier. However, for Renaud Murail at Barclays Bourse," it is almost certain that stakeholders would not reacted so negatively to this statistic a few weeks ago. Currently, less bad news is amplified. "
The climate has been sealed by the blood of net borrowing rate of Italy and Spain in the bond market, yields on 10 year Spanish flirting again with 6%. Rome suffered a further decline in industrial production in February, while economists were betting on a rise, while the debt of Spanish banks to the ECB in March smashed the record already history for the previous month. "This suggests two disturbing elements: access not only of the Spanish market remains difficult, but they still have a strong need for short-term liquidity," said Alexandre Baradez at Saxo Bank.
The bank attacked very
The banking sector in the fourth largest economy in the euro area of particular concern for investors because it is very exposed to the real estate market in the doldrums in the country. In this context, anxiety, low morale of U.S. households has compounded the disappointment of stakeholders.
As for values, the banking sector has been particularly attacked, Societe Generale yielding 5.79% to 17.80 euros, BNP Paribas 5.22% to 30.40 euros and Credit Agricole 5.08% to 3.91 euros. More cyclical stocks have suffered heavily from the slowdown in China, the image of Peugeot (-5.15% to 9.84 euros), Lafarge (-4.94% to 30.88 euros) or Vinci (-4 , 21% to 34.83 euros). L'Oreal was the only value of the CAC 40 close to achieving in the green (1.15% to 92.14 euros) after the beginning of 2012 found "promising" with sales up sharply in the first quarter.
Capgemini (-5.12% to 29.92 euros) suffered from lower sales forecasts for 2012-2013 the number two Indian IT Infosys Technologies. Atos took to 2.31% to 44.37 euros, while a note from Morgan Stanley suggests the establishment of "strategic options" for the group if the title is still low. Stallergenes has granted 3.34% to 42.66 euros after confirming its annual growth target following an increase of 7% of its turnover for the first quarter. Finally, Gold by Gold unscrewed from 6.01% to 6.72 euros in its first day of trading on Euronext Paris.
The industrial orders rebounded in February in the United States and businesses have increased their orders for capital goods, leaving the industry think that retains some vitality despite signs of slower growth.
These orders rose 1.3%, slightly below the consensus of analysts polled by Reuters which gave 1.5%, according to figures released Tuesday by the Commerce Department.
Many economists believe that the expiration of certain tax benefits on productive investment in late 2011 has encouraged companies to move their investments.
The decline in January was revised to 1.1% against 1% in the first estimate.
Orders for civilian capital goods excluding aircraft, a category closely followed because it was considered a good indicator of future investment plans, rose 1.7% in February against 1.2% in the first estimate.
The investment fund of 50 million proposed by Qatar to finance entrepreneurs wait suburbs. The emirate has decided to let the elections.
Widely criticized for its many investments in France, Qatar has decided to postpone until after the elections in France to launch a controversial investment fund of 50 million euros to help commuters, it was elected officials learned of Diversity, confirming a report in figaro.fr.
The National Association of Elected Local Diversity (Aneld), who obtained this commitment after a mission to Qatar where she was received by the Emir Sheikh Hamad bin Khalifa Al Thani, "hoped that this initiative is not exploited by political parties, "said its president Kamal Hamza, alderman (UMP) in Courneuve (Seine-Saint-Denis). "We want this to happen in the healing and not in controversy," he told AFP while the Qatari initiative has been criticized, including by Marine Le Pen.
"There is a very strong influence of foreign countries wishing development of Muslim fundamentalism and I wonder very strongly the bonds of friendship between Nicolas Sarkozy (French President) and the Emir of Qatar that has been allowed to invest 50 million euros in the French suburbs, "said the president of the National Front. Saturday, a few hundred young activists identity of "Apache Project" showed Place de l'Opera in Paris against "the acquisition of France by Qatar." For its part, the interior minister, Claude Gueant, found the initative as "salutary effort since there is no particular requirement of any kind".
The emirate's ambassador in Paris, Mohamed Al-Kuwari Jahan, announced in December the fund of 50 million euros to finance economic projects by residents of the suburbs of France, explaining that s 'was not "charity" but of establishing partnerships in projects "serious" and "solid". A commission of experts should be established to evaluate the projects.
More generally, the tiny emirate is a privileged economic and financial partner of France. He just bought 1% of LVMH, and 2% of Total has increased to 12.8% its stake in Lagardere.
The Strategic Petroleum Reserve in the United States are no longer quite as strategic as before.
While President Barack Obama put on a new release of emergency stocks of the country to counter soaring fuel prices, experts note that the landscape changes logistical striking U.S. oil could complicate his plans.
Certainly, the fact tap into the four giant salt caverns on the coast of the Gulf of Mexico – which contain 700 million barrels of crude oil owned by the U.S. federal government – would almost certainly lower the world oil prices, easing to pump users and providing a boost to Barack Obama before the November election.
Thursday, the price of crude has lost up to three dollars after information from Reuters that Britain was considering with the U.S. release of strategic oil reserves cal in the course of the year.
British officials have said that the timing and volumes contemplated are detailed by the summer, when oil prices often reach a peak.
But the logistics of such a release of crude oil to refiners volunteers is more complicated than ever: if there is little doubt that oil reserves are provided in emergency Ultimately buyers, it may reach them more slowly than does the government hope.
The inversion of a key pipeline linking Texas to Oklahoma will reduce the capacity of the main cavern release of oil reserves, and John is Shages, responsible ; emergency stocks under the Bush and Clinton administrations.
SYSTEM OF ANOTHER TIME
The development of shale oil and crude oil imports from Canada's oil sands has transformed the landscape of Energy. The industry is now trying to move an overflow of oil from the center of the country to the Gulf of Mexico, reversing the logic that underpinned the organization of national strategic reserves .
Emergency reserves of the United States, created by Congress after the oil crisis in mid 1970, was in fact designed primarily to carry oil pipeline linking the Gulf to refineries in the region and other purchasers located further north.
"The fact that the pipelines go (now) to the south, not north is a major change," said Edward Morse, responsible for research on raw materials for Citigroup and formerly an expert e nergétique within the U.S. State Department.
According to the Department of Energy, the U.S. strategic reserves may distribute the oil to 49 refineries with a capacity of more than five million barrels per day (bpd) – about one third of the total capacity of the country.
They are designed to release the oil within two weeks after order and to support a rate of one million bpd for a year and a half, helping to meet 5% of U.S. demand.
It can now free up oil at a maximum rate of 4.25 million bpd, due to damage to one of the storage tanks, said an official of the dice Department of Energy.
But oil industry analysts are skeptical.
Edward Morse deems it unrealistic pace and stresses that have limited logistical problems last summer the flexibility of the government's release of 30 million bpd – the largest in history United States – in response to disturbances affecting the supply of Libyan oil.
The oil from strategic reserves while in competition with the already crude transported by pipelines or tankers, on waterways often overloaded, the logistical capabilities of the country could be insufficient to rapidly absorb millions of additional barrels.
The Energy Department had released an average 743,000 bpd in August.
