Former European Commissioner Mario Monti was the favorite Thursday to succeed Silvio Berlusconi as head of the Italian government and try to counter the surge in borrowing costs in the country, another who briefly relieved the European stock exchanges.
The Economist, 68, former European Commissioner and now president of Bocconi University in Milan, is seen for weeks by the markets as the best candidate to lead a government of national unity and implementation of emergency austerity measures needed to redress the accounts of the country.The Paris Bourse was almost in equilibrium, Frankfurt advanced 0.5% and London gave up 0.45%.
Discussions in the PDL
Italian President Giorgio Napolitano has appointed Mario Monti senator for life Wednesday. Investors saw this as a sign that he would ask him to try to form a government from the start of Silvio Berlusconi, expected in the coming days.
And as the cost of borrowing to ten years in Italy continue to grow beyond 7%, a level deemed unsustainable by many, the assumption of a unity government seems to be gaining ground in the PDL.
"The LDP can not simply follow the call to the polls that emanates from the core," said Foreign Minister Franco Frattini in an interview with Corriere della Sera.
To believe an important elected PASOK in power, Prime Minister George Papandreou resigned after agreement on a transitional government will be concluded in Greece, possibly as early as Sunday evening.
Objectives, duration and the choice of the directing personality similar government must be acquired before the start of the power of the current prime minister, said on national television MP Telemachos Hitiris.
"Just wait for the announcement of the (selection) Prime Minister in the cabinet. Everything must be done in the day, otherwise it will be hell tomorrow," he warned.
Faurecia announced Friday the successful refinancing for a $ 1.5 billion, the group has launched Monday.
These operations include a bond due in December 2016, for $ 350 million with a coupon of 9.375%, said the automotive supplier in a statement.
The refinancing of Faurecia also involves a new syndicated loan of 1,150 million, consisting of two bands A (690 million euros) and B (460 million), respectively of maturity in November 2014 and November 2016.
These two operations will allow us to prepay a loan of 250 million euros made by Peugeot in conjunction with the refinancing of the existing syndicated bank also said Faurecia.
Difficult decisions must be taken to avoid non-payment of debt interest and keep Greece in the euro area, said Sunday the Greek finance minister, Evangelos Venizelos, after a cabinet meeting.
"We must fully meet the fiscal targets for 2011 and 2012," he told reporters.
Government members have spent their device review on the eve of a conference call with the inspectors of the European Union and the International Monetary Fund (IMF) and will meet again then he said without disclosing further measures austerity.
Release said this morning that the CNT had reserved 35% of the black gold to France in exchange for his support for the rebellion. A soldier in the camp of Colonel Muammar Gaddafi near the oil refinery in Ras Lanouf, March 12, 2011.
The representative in Paris of the National Transition Council, the governing body of the rebellion Jamahiriya, denied Thursday that the CNT has signed with France a document promising him 35% of Libyan oil, in a statement to AFP.
Hours before the start of a summit dedicated to the democratic reconstruction of Libya in Paris, the French daily Liberation published a letter dated April 3, headed the "Popular Front for the Liberation of Libya" and addressed to the Emir of Qatar in which the CNT said it has signed an "agreement to give 35% of total crude oil in exchange for French support to our total and permanent
I've never heard of this front, "responded Mansour Sayf al-Nasr, special envoy of the CNT in Paris." All documents, all treaties are signed valid CNT ", he argued, rejecting any other document as invalid. The governing body of the Libyan rebels are known, since late February that as the National Transition Council.The only reference to a "Liberation Front" on the Internet refers to the letter of April 3, published by Liberation on Thursday and runs for weeks on the web.
Asked on RTL radio on Thursday, the French foreign minister Alain Juppe said "not aware of such a letter." "The CNT has said very formally in the reconstruction, he addressed preferentially to those who supported him, which seems quite logical and fair," he said, repeating does not have "knowledge of formal agreement. " "We are not alone. The Italians, the Americans are there," he said.
From London, the representative of al-CNT Guma Gamaty assured that future contracts on the exploitation of Libyan oil shall be granted "based on merit, not patronage."Libya, the fourth largest producer in Africa (after Nigeria, Angola and Algeria), exported before the insurrection against the regime of Muammar Gaddafi 80% of its black gold to Europe, especially Italy and France.
Libya has the largest oil reserves in Africa, with 44 billion barrels, far ahead of Nigeria (37.2 billion barrels) and Algeria (12.2 billion). These large companies are Italy's Eni, French giant Total and the Anglo-American BP, Shell and ExxonMobil. The country has also almost doubled its exports of natural gas in recent years, 5.4 billion m3 per year in 2005 to over 10 billion m3 of this year, according to OPEC, through a new pipeline to the Italy. Its reserves are estimated at 1,540 billion m3.In early August, the CNT was committed to honor, "he will govern as a temporary", "all financial contracts and petroleum agreements under Gaddafi."
Exxon and Rosneft have signed an agreement Tuesday to exploit reserves of oil and gas in the Russian Arctic.
The agreement, signed in the presence of Russian Prime Minister Vladimir Putin, includes assets that BP expected use and thus reduces to nothing the hopes of British oil to boost its own agreement with Rosneft, which was blocked in May by its partners in a Russian joint venture.
Exxon and Rosneft will invest $ 3.2 billion in the development of Prinovozemelski blocks is 1, 2 and 3, located in the Kara Sea and the Black Sea Tuapse block.
Rosneft will be offered in exchange for participation in various exploration projects Exxon in North America and elsewhere.
Ségolène Royal on Saturday TF1 regretted that some of his socialist rivals promise "blood, tears, rigor" to the French. Segolene Royal, Socialist candidate for the primary (here at a press conference in Paris June 29, 2011).
"When I hear some Socialist leaders promise blood, tears, discipline … there is not the rigor to promise, there is good management to implement," said Segolene Royal on Saturday night on the set of 20H TF1. The primary candidate for the PS was reacting to remarks by Manuel Valls, considering it necessary "a recovery effort as important as the one France experienced in the aftermath of World War II."
"I'm not in favor of tax increases," added the president of the Poitou-Charentes, questioned the tax reform bill of another candidate, the favorite in the polls, François Hollande.In the Nouvel Observateur of August 18, Mr. Holland proposes a "broad base for all charges", where the PS project envisages widening of tax base for some samples.
"I think the priority is the recovery of economic activity and ensure that everyone who wants to start their own business (…) can find ways to do so, and certainly not slowing further growth "said Ms. Royal. A unison of socialist leaders, she declined to support the "golden rule" government back to a balanced budget, as the Prime Minister asked the PS to do in the name of "national interest".
Ségolène Royal has held that this "golden rule" was not "effective" or "honest".In return, she suggested to François Fillon "to prevent speculation in the States" and asked again "to make public the names of banks and financial institutions that speculated against the United States and against the people."
Ipsos announced Wednesday the acquisition of Synovate, the market research arm of the British group Aegis, which will allow it to climb to third place worldwide in the sector.
The operation, performed on the basis of an enterprise value of 525 million pounds (595 million), will be financed through new debt of 250 million euros, an increase in capital of 200 million, with preferential subscription rights, as well as through existing credit lines and cash, Ipsos said in a statement.
The transaction must be approved by the shareholders of Aegis, which will be called a general meeting on August 11.Vincent Bolloré, who holds 26.5% stake in Aegis, has already committed to vote in favor of the transaction.
The French group, world number five in the sector, had entered into exclusive negotiations with Aegis in late June.
Ipsos title ended at 31.20 euros on the Paris Stock Exchange Tuesday, falling 12% since early January. Its market capitalization is 1.07 billion euros.
The consumer prices in the United States fell by 0.2% in June, an unprecedented decline in a year, compared to May, slightly higher than expected, according to statistics released Friday by the Labor Department.
Analysts had expected a decline of 0.1%.
12-month price increases 3.6%, in line with analysts' expectations, and as the previous month.
The index of core inflation, which excludes food and energy, is in turn emerged up 0.3%, as in the previous month, and while economists expected 0.2%.
Over one year base prices also show an increase of 1.6%, in line with analysts' expectations and after 1.5% in May
The consortium CFM International, a joint venture between General Electric and Safran, announced Wednesday it had won an order for engines for 1.4 billion dollars (979 million), increased by Virgin America.
CFM was competing with Pratt & Whitney to supply engines to include the enhanced version of the Airbus A320neo.
Virgin America has ordered 30 aircraft in January A320neo and 30 other former models of the A320 must fit into that CFM engines.
