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.
Consob, the Italian financial markets authority, suggested Wednesday EDF to revise upward the price offered to minority shareholders of the Italian group Edison, an opinion that could further extend a drama begun there are nearly ten years.
Three months after the announcement of an agreement between EDF and other major shareholders of the second largest electricity producer in Italy, Consob said that "the price of EDF 0, 84 per share does not seem representative of the actual price agreed between the parties. "
She adds, in the notice published on its website a price ranging between 0.84 and 0.95 euros would be more consistent with "the notion of price paid" and that the median of this range , or 0.89 euros, can be "a useful reference point".
Contacted by Reuters, EDF has made no immediate comment.
"Let's see what the French would say. But if we take as 0.89 euro price, the difference is about 60 million euros. It is nothing for a band like EDF" said a source close the file.
After months of negotiations, EDF had signed a preliminary agreement in late December supposed to ensure control of Edison. But he was then conditioned the implementation of the agreement to confirmation by Consob price of 0.84 euro per share Edison.
Under the terms of this agreement, EDF was, initially, increase from 50% to 80.7% its stake in Edison for 700 million euros, and then launch a takeover bid for the remaining shares.
The group led by Proglio then found that the agreement Edison valued at 0.84 euros per share.
In return, Edipower, which Edison owns half the capital and considered by some observers as the "nugget" of the Italian group, had to go completely in the hands of current shareholders of Italian , led by A2A.
At the head of the minority shareholders of Edison appears the businessman Romain Zaleski, through his holding company Carlo Tassara.
The action ended in Edison 0.8735 euro Wednesday at the Milan Stock Exchange. In this course, the Italian group is valued 4.5 billion euros. In Paris, EDF finished at 17.2150 euros, a capitalization of 32.7 billion.
Officials of the European Union hopes that the leaders of G20 countries will agree to contribute more to IMF resources in April after the agreement Friday on increasing the power of the wind fire-euro area financial.
The IMF seeks to double its war chest through raising $ 600 billion of new resources to help countries struggling with the fallout from the debt crisis in the euro area.
But most G20 countries have said that before they do inject money into the IMF, the euro area was first put more money to solve the crisis of sovereign debt.
This was done on Friday finance ministers of 17 countries in the euro area in agreeing to carry 500 to 700 billion combined capacity of two rescue fund.
"It is important to ensure that the IMF has sufficient resources to fulfill its systemic role in the global economy and yesterday's agreement within the Eurogroup (…) is very important in this regard, "he told reporters the Danish Minister of Economy Vestager Margrethe, whose country holds the rotating presidency of the European Union.
Finance ministers and central bank governors of the G20 countries must discuss an increase in IMF resources on April 22 in Washington.
"It's time to increase IMF resources. It is in the interest of all countries, the focus is on Europe, but it is very important to recognize that there are also vulnerabilities in other parts of the globe, "added Minister
." I think and hope – and this is to How we work – we will reach an agreement in April, "she said
." We Europeans, we can get to re ; unions spring the Washington sense of accomplishment ", for his part said Jörg Asmussen, Executive Board Member of the European Central Bank
… Five …… major emerging countries, said the BRICS (Brazil, Russia, India, China and South Africa), however, have said they would support an increase if they were accorded a more important within the IMF.
The euro area has already said it would contribute € 150 billion more resources to the IMF. The Czech Republic will contribute 1.5 billion euros, 5.3 billion of Denmark, Poland and Sweden 6.3 billion to 6.9 billion euros.
"The EU calls on other G20 countries and financially strong IMF members to contribute to this effort," we read in a paper for the Washington meeting.
In February, China recorded its largest trade deficit over the past decade. A sign of the deteriorating economic conditions of countries, some analysts say. China recorded in February its largest trade deficit in over a decade.
This is a record. China recorded in February its largest trade deficit in over a decade, from 31.48 billion dollars, due to a surge in imports, particularly oil, according to figures reported Saturday by China Customs.
Imports jumped 39.6% year on year to 145.96 billion dollars, while exports rose 18.4% to 114.47 billion USD, have detailed the Customs on their website.
Imports grew far beyond the expectations of economists polled by Dow Jones agency, who on average expected 26% increase, while exports are well below their forecasts, which were 28.8% increase.
The expected deficit by these economists was 8.5 billion only. This is the largest trade deficit ever recorded in a single month by China since at least 2000, according to Dow Jones agency.
Slowdown
For the first two months of the year, China has a trade deficit of 4.25 billion. In January, it had a surplus, but the volume of China's foreign trade had shrunk because of the impact of Chinese New Year celebrations. The high level of imports is mainly due to oil imports, which hit last month to a record volume of 23.64 million tons, amounting to 19.47 billion dollars.
China recorded a trade deficit frequently earlier this year, but in 2011 it had only reached $ 890 million for the first two months of the year.
The deficit in February in addition to other economic indicators released reflecting a slowdown in the second world economy.
"Overall, we see an acceleration of deteriorating economic conditions," responded Zhang Zhiwei, an economist at Nomura Securities agency quoted Dow Jones. "The slowdown occurs more rapidly than expected in the government," he said.
The record trade deficit could prompt Beijing to further relax its monetary policy to support economic activity, while Chinese exporters are suffering from the impact of the debt crisis in Europe and weak economic growth in the U.S. .
Coface, which last year refocused its activities on credit insurance, reiterated Tuesday his intention to return when the stock market but market conditions have improved.
Jean-Marc Pillu, the CEO of a subsidiary of Natixis, declined to say how soon the Coface, deregistration in 2002, envisioned a new IPO nor how much capital will be offered to investors.
"The track is always the same, this is the IPO as soon as conditions permit," he said at a news conference.
"The internal conditions are met to be placed on the market," he added. "After the second condition, it is the markets (financial, Ed). We will wait quietly, serenely they allow us to do this. "
Asked about refocusing on the Coface credit insurance ; said, he explained that the company had isolated a structure apart and owned by its parent non-core businesses it intends to transfer …
…… "These activities were in a separate structure, as Natixis, well insulated (…) but remain under the responsibility of the Directorate General of Coface at the operational level, "said Jean-Marc Pillu.
He also said that except for the German and Polish markets, factoring activities were managed for their extinction ("run off"), that is to say, they are intended to be phased out.
Due to the reorganization of its business, Coface has subsequently passed in its 2011 accounts for 49 million euros in restructuring charges after taxes.
Its CEO also said the company had raised 1.1 billion euros of financing for factoring after signing a contract with four banks of securitization.
"We are most indebted of all, we paid all our debts in the long run. I speak of parent company debt, "said Jean-Marc Pillu
. Returning to the proposed creation of a rating agency Europé ; enemies, envisaged a time before finally being abandoned in early 2011, the CEO of Coface said that the business of insurance credit scoring and no pre ; felt no synergies between them
. "It's not all the same job," he insisted .. …….
The G20 finance ministers, meeting this weekend in Mexico City, engaging in a statement in April to review progress made in strengthening the resources of International Monetary Fund, said on Saturday from a source of G20.
The source said the draft statement, which must be finalized during meetings scheduled in Mexico this weekend, made loans and bilateral borrowing arrangements options for improve the firepower of the IMF.
"Progress in this strategy will be discussed at the next ministerial meeting in April," the draft communique quoted by the source. These reports were confirmed to Reuters by another official of the G20.
The IMF wants more than double its capacity to respond by raising $ 600 billion of new resources to deal with the consequences of the crisis of sovereign debt within the eurozone. This project creates a reluctance in some countries, foremost among them the United States and Canada.
Mexico, who chairs the G20, has pushed for the issue of IMF resources is discussed along with the initiatives that the Europeans could be taken to resolve the crisis sovereign debt, at the meeting of finance ministers and central bankers this weekend in Mexico City.
Some countries indicated that no discussion on the strengthening of IMF resources could be envisaged as the Europeans have not strengthened their own firewall to stem the debt crisis, an issue they must be discussed at the European Council of March 1 and 2.
The Indian airline Kingfisher Airlines Tuesday seemed about to collapse under the weight of its debts, flight cancellations are being multiplied for almost a week and the resignation of Drivers accumulating tens.
Vijay Mallya, the liquor magnate who controls the airline and gave the same name as his famous brand of Indian beer, said he was determined to save Kingfisher, blaming its financial difficulties with the freezing of bank accounts by the tax.
There is in India no legal requirement for companies to declare bankruptcy. Kingfisher, an Airbus customer, so could the curtain down overnight due to lack of funding, warn analysts.
"If they can not find fresh capital, of course, they are condemned. They have the money or for maintenance or for wages or for anything else, "he told Reuters Lillaney Sharan, an analyst specializing in aviation for Angel Broking. The action
Kingfisher has plunged nearly 20% Tuesday, the day the company was called by management of Indian Civil Aviation to explain the cancellation of more than 100 of its flights during the four days
. At the end of the meeting, the Indian regulator said he had obtained guarantees of Kingfisher on bank financing and the action has erased all its losses
……. .. Kingfisher, which last year was still the second Indian airline, has reached any profits since its inception in 2005, suffering from the flew e fuel prices and fierce competition from low-cost airlines.
Indian market yet fast-growing, nearly 20% in 2011, the turnover of Kingfisher declined since late 2011.
The group acknowledges a debt of $ 1.3 billion (984 million), and lack of liquidity, it no longer pays the salaries of its employees and accumulates unpaid tax, adding, according Kotak Institutional Equities, $ 477 million in debt.
The action Kingfisher plunged nearly 60% since January 2011, melting the market value of the group at $ 269 million.
News reports bring to 300 the number of pilots who have resigned since last September. The Mint newspaper said, citing a government official, also reports that Kingfisher will return two Airbus A320 to companies leasing aircraft because of defaults.
According to the latest data from Airbus orders over Kingfisher deal 32 single-aisle A320 family aircraft, 20 A330s, five long-haul A350 and five A380 super-jumbo.
Values to follow Tuesday at the Paris Bourse. </ P> * VALUE FINANCIAL – EU leaders could seal a final agreement on the second level of support Greece in the coming days, Monday and tried to calm an early debate on a proposed loan to Berlin to Greece Trust budget. </ p> The Prime Minister of Greece Lucas Papademos met after the summit in Brussels with EU officials and European Central Bank to discuss the details of the restructuring plan of Greek debt under negotiation with private creditors.</ P> * INSURANCE – Moody's Investors Service said Tuesday it had raised to stable from negative its outlook for the industry and damage to the French insurers maintained its negative outlook on the sector of 'life insurance. </ p> * CROSSROADS announced Monday the departure of its Executive Director responsible for growth markets, Pierre Bouchut, in which analysts had seen a candidate ; rieux to succeed Lars Olofsson. It Georges Plassat was chosen to succeed the CEO of the distribution group. </ P> * Renault, which owns 25% stake in Russian manufacturer AvtoVAZ, could take control via its alliance with Nissan in the first half of this year, said Monday the news agency RIA Novosti, citing About Sergei Chemezov, the chairman of the holding company Russian Technologies. </ p> * RENAULT and PSA PEUGEOT CITROEN – According to the Tribune, quoting unofficial sources, registrations of new cars have plummeted in January as planned in France, as a result of the context economic and very unfavorable comparison of early 2011, when the effect scrappage was still playing full. </ p> According to La Tribune, Renault fell by 45 %, 37% of Peugeot, Citroen Dacia by 31% and 18%. The two French manufacturers have refused to comment on the figures to be published Wednesday. </ P> * EADS – UBS moves from neutral to buy on the title with a target price raised 22 to 31 euros. </ p> * ACCOR – Nomura resumes coverage value with a recommendation to "reduce" and a target price of 19.50 euros. </ p> < p> * Veolia Environment – Morgan Stanley going to underweight-weight line on the title. </ p> * SOITEC, who had said it expected an operating loss "significant" in 2011-2012, has announced that it would be between 40 and 45 million euros. </ p> * EIFFAGE – JP Morgan goes underweight to neutral on the title.</ P> * NORBERT DENTRESSANGLE reported Monday night of "signs of slowing at the end of the year" in the business of its customers, in a macroeconomic context "showing progressive signs of slowing. "</ p> The group achieved in 2011 a consolidated turnover of 3.576 million euros, up 5.6% at constant exchange rates and like basis. The fourth quarter alone, the change in net sales was 4.2%. </ P> * ALTEN judge earlier this year "reassuring, if not encouraging," despite the depressed economic environment that characterized the end of 2011. "The activity in January remained satisfactory, comparable to last year," said Alten. Of 2011, consolidated sales increased by 14.5% at constant currency and constant perimeter, to 1065.7 million. The fourth quarter alone, growth stood at 12.5%. </ P> * DRY ENVIRONMENT, which in 2011 posted an organic growth of 6% of its sales of Business 424.2 million euros reported in 2012 on a build up its business in line with the last six months "in an uncertain macroeconomic environment." </ p> <p > Regarding the issue of participation in the Saur, including the assumption of an output, the chief financial officer Jean Geissler declined to comment, simply stating that mediation was ongoing. </ p> * ARTPRICE.COM expects a jump in sales this year with the launch of its online auction service, said Monday its CEO Thierry Ehrmann, in an interview with Reuters. </ p>
The rapid increase of the debt crisis in the euro area threatens the credit ratings of all European states, warned Sunday the U.S. rating agency Moody's. Moody's in New York.
In a "special comment" on European countries published Sunday, Moody's says it still considers that the euro area will maintain its unity without any fault as that of Greece, but notes that even this' scenario 'positive' carries consequences very negative for the notes "of European countries. The U.S. rating agency, recently warned that France could lose its "triple A" allowing it to borrow at favorable rates in the markets, and clearly indicates that no country, even among those considered most solids, such as the Netherlands, Austria, Finland or Germany, is immune to a lowering of note.
Given the events of recent weeks, Moody's said have to consider "the likelihood of a scenario even more negative." She said "the probability of multiple failures (…) States in the euro area is no longer negligible" and continues to grow in the absence of solution to the crisis. If this probability were to materialize, it would increase the likelihood that one or more countries leave the euro area, the agency said, for whom this scenario of a "fragmentation of the euro" would have "negative repercussions for all countries the euro area and EU. " For Moody's, the situation is constantly evolving, and new "shocks" (new rescue or rising interest rates which states borrow) while policy makers define new measures are "likely to lead to changes of note in case by case "for some countries.
The President of the European Central Bank (ECB) Mario Draghi said that the primary purpose of the institution is price stability. He refuses to do more to assist States in the euro area, noting that the "credibility" of the ECB is at stake The Governor of the Bank of Italy, Mario Draghi, should succeed Jean-Claude Trichet as President of the European Central Bank.
The President of the European Central Bank (ECB) Mario Draghi Friday defended the independence of the institution subject to strong pressure to intervene financially better deal with the debt crisis, stressing that it was his "credibility" was at stake . "Our credibility implies the success of our monetary policy (consisting of) anchor the inflation outlook in the medium and long term (…) to sustain growth, job creation and financial stability.
