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Lafarge, the group specializes in building materials, has announced a decrease of 3% of its turnover for the first half of 2010. At constant exchange rates and constant perimeter, the decrease amounted to 4%. The operating income showed a decline of 5% to 1.072 billion euros (-9% at constant scope and exchange rates).

Net income from Lafarge withdrew its side of 29% to EUR 233 million. The current operating margin shows finally a decrease of 30 basis points to 13.9%.

In the second quarter alone, sales rose 2% to 4.436 billion euros but, at constant perimeter and constant exchange rates, sales rose 2%. The operating income increased 5% to 836 million euros. It is stable at constant exchange rates and constant perimeter.

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New measures to reduce debt

Bruno Lafont CEO of Lafarge, said in a statement that "the pace of economic recovery remains uncertain and highly variable from one country to another," led the group to adjust its market forecast for the year 2010. Lafarge table so now on a variation of the demand for cement between -1 and +3% on the year compared to 2009 (against 0% to 5% expected in late March).

The band announced further steps to reduce its debt amounting to 15.16 billion euros (down 1% during the first half).Thus, it will "limit its investments in 2011 to 1 billion euros" and sets "a new goal of structural cost reductions of more than 200 million euros."

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The sun should be looking good these next few days on the coast of the Vendee and Charente-Maritime. In this time of summer vacation, the sea should also be delicious. Nothing like with the weather of February 28 last, when the storm Xynthia that swept the country sowed chaos in this part of the Atlantic coast. In the only common Vendée La Faute-sur-Mer and The Sting-sur-Mer, the most affected by the storm, 29 people died. Nearly five months after the tragedy, these two villages devastated recovering gradually. But in this popular tourist region during the summer, Xynthia has left marks that plagued the start of the season.

If the Office of Tourism Osten-sur-Mer laments a decline in attendance of about 10%, traders stand more negative findings."The customer is down 30% to 40%," says Pascale Soussi Restaurant La Terrasse in Sin-sur-Mer. "And it was discussed among traders: It's the same for everyone. At the restaurant La Marina, sixty meals are served daily on the usual hundreds. At the Hotel du Port, Osten-sur-Mer, Sophie Ramon prepare a statement even less favorable in the hotel which was flooded by 82 inches of water in late February and closed more than a month, attendance was halved.

Three campgrounds closed

In case the destruction of several campsites and many second homes have contributed to empty the streets of the town. A La Faute-sur-Mer, the municipal camp was finally closed and that the Blue Waves should not reopen until April 2011.As for camping Municipal The Sting-sur-Mer, it is only half available: caravans and tents can again take up residence in the "upper" since July 1. But the other part, where you could rent mobile homes, chalets and caravans, remains closed for repairs. It represents, in itself, a hundred beds and less.

Overall, La Faute-sur-Mer, about 8000 tourists were least expected, on the 35,000 usually greeted each summer. Added to an unfavorable economic situation by traders, these accommodations are destroyed a significant shortfall.

Ile de Re also shows a small decrease

A few dozen kilometers south of La Faute-sur-Mer on the Ile de Ré, the damage from the storm were less important. "The island is absolutely destroyed!", Recalled the manager of a hotel restaurant.A campsite for a works council remains closed this season and the hotel Odalys does not welcome new visitors that from 31 July.

Le Relais Thalasso, also closed after the storm has finally reopened its doors on July 4 instant loan payday no TeleCheck. Four months of work have been necessary for the institution to recover from the flooding that devastated forty rooms. "Today, activity resumed normally," said facility director Didier Gireau. Our forecast for the month of August are in the standard, or even good. We have made efforts to forget the flood and that the center image is not tarnished. "

But many merchants and restaurateurs of the Ile de Ré deplore this was a small decline in attendance.Some highlight the consequences of the storm, others are pointing the finger at the most unfavorable economic environment. "The economic situation is worrying," says director of Ile de Re Tourism, Catherine Senand, refusing to incrimer the storm that left "little effects" on the island. She admits that the season has "started slowly, but expects a better August.

A "moderate" impact on departments

For François Riou, assistant executive Tourist Board Vendée, the impact of Xynthia remains "very moderate". Only 2% of the Vendee coast has been destroyed by the storm, "a tiny fringe" which does not affect his view, the department's tourism season. Facing a crowd at half this year, local tourism professionals are meant to reassuring about their prospects."Only two campsites are closed on the 400 account the Vendee," he recalls.

Even finding across the neighboring department: "After the storm, only 3% of the infrastructure of Charente-Maritime have been affected," said Stephane Villain, president of the Tourism Committee of the department. "The summer looks very good," he says. "The reservation rate is substantially identical to that of 2009 which was a very good year." And we promise to visitors that the hospitality will be at appointment: "People have worked hard to accommodate visitors in very good conditions," says Stephane Villain. They may be even better than usual ".

The image of the region involved

The image of the Atlantic is at stake, as evidenced by the television campaign to promote tourism in the Vendee.Circulated in early June, the commercials were intended to "remind the values of hospitality and tourism" of the department, according to François Riou.

The regions affected by Xynthia therefore trying now to convince visitors that they are again ready to welcome them, with their usual charm and tranquility.

The number of counterfeit euro banknotes declined in the first half of 2010 according to the biannual report of the European Central Bank (ECB). In total, 387,000 false banknotes were withdrawn from circulation, a decline of 13% over the second half of 2009.

The ECB said that "reported to the stock, up, of genuine euro banknotes in circulation (average 13.2 billion in cuts in the first half of 2010), the number of counterfeits is very small." The European institution does not specify whether the counterfeit notes were seized before their release.

Tickets are most affected by counterfeiting are € 20 (41.5%) and 50 euros (42.5%). Almost all (98%) of counterfeit notes seized this semester have been in a member country of the euro area.According to the Central Office for the Suppression of Counterfeiting Currency (OCRFM) quoted by Agence France Presse (AFP), France, Spain and Italy together account for 70% of the counterfeiting of the euro.

The ECB seeks public caution, recalling the method "Touch-Tilt-Watch" called "TRI" to verify the presence of several security features on tickets for the single currency.

Ensuring pension "adequate, sustainable and safe". That is the goal set by the European Commission on Wednesday, opening a public debate across Europe about pensions. One way for Brussels to contribute to debates in the member states, faced with increasing public deficits and debt.

France initiated its reform, that the legal age of retirement will be pushed back 60 years to 62 years by 2018. By 2029, the Germans to retire at age 67 instead of 65 today. Spain, whose age is currently 65, is studying a similar scenario. Finally, Great Britain, the legal age could be raised to 68 years.

These measures are widely endorsed by the European Commission, who said in a Green Paper published today on the occasion of the opening of public debate."In all Member States, an aging population weighs heavily on the existing pension plans, and financial and economic crisis has only increased that pressure," said a statement in Brussels with its consultation document.

"In Europe it is expected that the number of retirees will double by 2060 compared to the number of people who fund their pensions: the current situation is simply unsustainable. To remedy this, it is necessary to consider carefully the balance to be struck between the length of working life and in retirement, "said European Commissioner for Employment, Laszlo Andor in this release.

An average exit age increased to 70 years by 2060

Clearly, the EU executive urges EU states to a widespread decline in the age of retirement, at a time when people are living longer while birth rates are sliding. "In 2008, there were four people of working age (15-64 years) for every citizen of the European Union (EU) aged 65 years at least. By 2060, this ratio will drop to two for one ", explains the Commission. The latter considers that the average age of retirement should be raised from 65 to 70 years by 2060 to maintain pensions at their current level.

The consultation opened on Wednesday last four months, until November 15, 2010. To mobilize the citizens, the Commission established a website to collect the views of each.Based on a recent Eurobarometer survey, Brussels says that Europeans are ready to accept the measures taken by EU governments. The survey found that "73% of citizens of the European Union provide a clear decrease in their retirement or think they have to work longer or save more for their old age."

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The Autorité des marchés financiers (AMF) to better protect investors. Like announced last April, the MFA has launched with the collaboration of the supervisory authority, a new public financial information. His goal? To better inform its clients on banking, savings, insurance, financial markets or the credit. The public will get information on insurance products (home, auto, life, health …), bank accounts, means of payment, bank books or the functioning of financial markets, products collective savings, companies listed on the Stock Exchange, the securities account.

"Applications will be redirected by the operators to specialists of the AMF or the supervisory authority," says Madeleine Guidoni, mediator of the AMF.The policeman of the Exchange hopes to meet customer expectations disappointed that their banks do not have better information about the content of such Fund.

Life buoy

"The financial institution has taken to bad habits for marketing of financial products", regrets the mediator of the AMF.With this new service, the regulator should thus be able to better track business practices of banks and better focus the control activities.

After the merger of the bank authorities and insurance giving birth to the supervisory authority, the creation of this service, as required by the economy minister, Christine Lagarde, is like a lifeline to investors, including confidence in financial markets has been severely affected by the numerous cases of fraud or scam.

Called Insurance Banking Savings Info Service, is available in a website – www.abs-infoservice.fr – A telephone helpline – 0811901801 – and a postal address – Insurance Banking Savings Info Service, 61 Rue Taitbout; 75,009 Paris.The domestic number is available Monday through Friday from 8:00 to 6:00 p.m..

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At Microsoft, we talk of "strategic shift". Twenty years after the onset of the first version of Office, its main software, including Word, Excel and PowerPoint, become free on the Internet. "We have incorporated new uses coming from the Web, in a business model funded by advertising," Jean-Christophe defends Pity, director of the division office in France.

The software, in their declination Web are accessible from any computer with Internet Explorer, Firefox, Safari or Chrome. There is no need to install any software or plugin, even if the extension Silverlight competitor to Flash, is recommended.However, it is essential to have a Windows Live at Microsoft, to create and edit documents, stored on a virtual disk with a capacity of 25 GB

The online tools do not support all functions of the Office suite but a light mode. In Word, for example, inserting tables and images work, like changing font, text alignment and the spellchecker. But the footnotes page can not be changed. Similarly, in PowerPoint, changing graphics is skimpy. And from a mobile or a shelf, only consultation is proposed.

A response to Google

For Microsoft, it was not any way to match the capabilities of traditional software, which will sold from 99 euros payday advance.The more complete versions, installed on the hard drive and connected to the Web for collaborative work, to manage the effects and 3D animation video, editing, and the contour images, make layouts. The Outlook e-mail, intended for professionals, now includes the major social networks including Facebook and LinkedIn.

The free software on the Internet should rather discourage users to migrate to the online office suite from Google, Google Docs, and if possible refer to the charges. Office remains one of the main sources of income for Microsoft. For years now, contributed almost half of its profits last year.If Office totaling half a billion users worldwide, Google has recently surpassed 25 million customers, and gaining ground in enterprises.

Without giving specific numbers, Microsoft expects to France, despite the competition from free, on a "double-digit growth" in sales of Office, says Jean-Christophe Mercy. By the end of the year, "between 80 and 90%" of PC will be sold with the suite preinstalled. An activation key must be purchased to access the software. The early indicators are encouraging. The beta version of Office has been downloaded over 600,000 times in France. Behind the United States, but ahead of all other countries.

The CAC 40 increased his earnings to 16 hours. After posting an increase of 0.90% at mid-session, the index rose in Paris now more than 2%, 2.15% exactly 3521 points. Investors have been reassured after the European Central Bank has revised upward its forecast for eurozone growth this year.

The benchmark index of Paris had shown a steady increase at the close Wednesday after three consecutive sessions of decline, thanks to the reassuring remarks from Ben Bernanke, the Fed chief. Other major European markets have also hoisted the green flag.

The finding is similar to other financial markets: the German Dax climbed 1.09% to 6049 points, the Spanish Ibex rose 2.80% to 9117 points, the Milan Stock Exchange gained 1.11% to 19,123 points.Rising British Footsie is more limited: + 0.64% to 5118 points.

Early this morning, Asian stock markets have posted positive counters. The indices are displayed in positive territory while a series of good gives figures of heart from investors.

The euro is ironed beyond $ 1.2.

U.S. growth is reassuring, Ben Bernanke also

Published yesterday, the Fed's Beige Book confirmed an increase in economic activity in the United States without signs of inflation, reinforcing the idea that the Fed is in no hurry to raise interest rates. The Federal Reserve announced it was expecting a GDP of 3.5% for 2010 and "somewhat" more in 2011. In May, the Fed was between 3.4% and 4.5% for 2011.

Its chairman, Ben Bernanke, said he will remain attentive to the evolution "of the situation abroad.His comments are aimed at Europe in turmoil budget. He said however, "reassured by the answers of Europeans," holding that they have developed a "substantial program.

The economic indicators of importance

In France, industrial production in France fell 0.3% in April, but production of the only manufacturing industry continued to grow, according to figures released Thursday CVS-CJO by INSEE.

In Frankfurt, while it is held by the Governing Council, Jean-Claude Trichet, head of the European Central Bank, will deliver the Bank's decision on interest rates to 1% today. A status quo is preferred.

Like every Wednesday, the weekly claims for unemployment benefit in the United States will be published at 14.30. The figures on foreign trade in April will be known at the same time.Then, 20 hours, investors will follow the budget execution figures for the month of May

Japan remains the second largest economy after the United States, while the revised official figures and show a growth of 5% in the first quarter of 2010.

France Telecom, one agrégateurplus a producer

Value-laden France Telecom, which held its annual meeting Tuesday, it appeared necessary to adapt its strategy contained in the competitive environment and has therefore become more assertive as a reader and as a producer, said Wednesday Stéphane Richard, his manager General at the General Assembly cheap pay day loans.

In addition, the telecom authority (Arcep) on Wednesday defended a regulatory context to counterbalance the dominance of France Telecom in the telephony market in France.

The securities yield 0.36% to 15.3 euros.

Air France-KLM: 1,22% + 9,85 eurosSelon information Figaro, Ethiopian Airlines is about to sign an agreement with Star Alliance to join the alliance dominated by Lufthansa. Air France is being shaken to its network and the most profitable.

Total: -1% to 37.73 euros oil group participates in the construction of a solar concentrator 100 megawatts in Abu Dhabi, the largest in the world.

The above shares retreat amid plummeting BP shares, which fell by 15% to the London Stock Exchange on Thursday morning – they dropped 15.8% yesterday on the U.S. markets. In its wake, Technip down 1.3% to 47.25 euros.

Renault: + 3.38% to 30.26 euros change in the financial department head.Thierry Moulonguet will be replaced by the CEO of RCI Banque.

Imerys: + 1.99% to 41.07 euros The Strategic Investment Fund (ISF) announced Wednesday the fall departure of chief executive Gilles Michel, who will join the group of industrial minerals and construction materials, including it should become CEO in 2011, to succeed Gerard Buffière.

French Members Banks, which begin Thursday in open discussion of the draft law regulating banking and finance, also want to discuss with the Government of the German measure to ban naked short selling.

Societe Generale gained 1.28% to 31.15 euros.BNP Paribas, 1.97% to 43.15 euros, Credit Agricole, 2.41% to 8.39 euros.

EADS: + 3.28% to 17.79 euros Eurofighter has launched negotiations with Germany, Spain, Britain and Italy to convince these countries to invest 10 billion euros in next phase of production of its combat aircraft.

Moreover, during the Berlin Air Show, Louis Welsh, the executive chairman said he was "delighted if we could forge a partnership with Embraer, the Brazilian counterpart, said FinanzNachrichten.

The form that could take this partnership has not been specified. In the past, EADS has held a minority stake in Embraer, which he sold in 2007.

The Auchan retail group and its Taiwanese partner Ruentex preparing to list their Chinese activities on the Stock Exchange of Hong Kong.A first for the family business.

Changes in recommendations

Lafarge and Saint-Gobain wins Lafarge 4.03% 48.65% to euro and Saint-Gobain is 4.48% to 31.63 euros. Citigroup raised its recommendation from "hold" to "buy" on the two values.

Vinci: + 1.87% to 37.25 euros ING has started tracking the purchase, with a target price of 44.20 euros.

Until now, the French have not felt the effects of policy, expenditure control has been conducted since 2007. For the general revision of public policies (RGPP) merely cut in the organization of the state, culminating with the non-replacement of staff on two retiring. After the controversy arose in Spring 2008 when Bercy had failed to dent the map "families," the executive had resigned himself to not touch, or marginally so, the expenses of intervention, ie policy social and wider economic (costs targeted exemptions, housing subsidies, RSA, assisted contracts …) and subsidies (crops, including transport).

Today, given the magnitude of deficits, the government changed its tune.In framing the letter he sent to all departments, Francois Fillon requires a 10% decline in value of intervention expenditure in the period 2011-2013. "To meet the target of freezing government spending-load of debt and pensions, we can not content ourselves to work on the only day operation of departments," said Baroin's entourage, the Minister Budget. In fact, operating expenses, such purchases, computers or real estate, representing less than 20 billion euros, while the operating expenses weigh 67 billion. The Prime Minister had already announced a cut of 10% within the past week. Measurement confirmed in the letter of framing.The extension of this plane to political intervention will save 6 billion more to the state by 2013.

Difficult choices

Remains now to determine exactly where the cuts will take place. Discussions between Bercy and the ministries that will lead to arbitrage mid-June, tight ahead, as the operating expenses are political. Social expenditures account for half wicket. For them, it will take "specific reforms," according to the letter of framing. Minister of Youth, Marc-Philippe Daubresse however assured Wednesday that the criteria for awarding the RIAA will not be changed. The other half of the expenditure is made up of sectoral aid.Transport (including rail network of France), agriculture, housing and culture are on the front line.

"More generally, all departments will freeze all spending," insists one at Bercy. Including, therefore, that of Defence, while the military budget law provided an increase in appropriations. But everything should be done to ensure that capital expenditure are chipped to a minimum.

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New rebound in the case Lagard?re / Wyser-Pratte. Guy Wyser-Pratte, said the activist investor who hold 0.53% stake in Lagardere, has won the support of governance expert RiskMetrics Group (formerly ISS Proxy Advosry Services) in his critique of the structure of the media group.

Support size, because boards of RiskMetrics are followed by institutional investors. But they represent 78.51% of the capital of Lagard?re (50,51% of foreign institutional investors and 20% French).

Rejection of proposals by the management and the board

But on Monday, the general partners and managers of Lagardere SCA voted against the amendment of articles of the company – a company limited by shares to a company – in a proposed resolution before the next general meeting Guy Wyser-Pratte.A decision that is "not surprised" to advise shareholders of the activist. "The opposite would have been more democratic," he quipped.

Last Friday, the group's supervisory board had rejected outright the two main proposals of the Franco-American investor to relax the sponsorship of the Lagard?re group. For now, Arnaud Lagardere, the manager-partner of Lagardere, which holds all powers of decision with 10% of capital payday loans no teletrack. Partnership status allows to use external financing without losing control of the company.

RiskMetrics 'agree' with Wyser-Pratte

Thus, the shareholder advisory firm RiskMetrics looking for arguments Guy Wyser-Pratte: "We agree with his criticism of the sponsorship per share.

"The presence of dissent to the supervisory board of Lagard?re would be beneficial to the long-term shareholder value," she said in a statement. In any case, any election "reflects the intention of the limited partners to adopt a different status," said the company. Verdict on 27 April at the general meeting of shareholders.

On Monday, the shares are granted Lagard?re 0.46%, to 31.51 euros in a market equilibrium.

Wyser-Pratte had accused Mr Lagardere's "mismanagement", accusing him of preferring to "go play tennis in running the company." Arnaud Lagardere leads the group since the death of his father Jean-Luc Lagard?re in 2003.

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The price of oil exceeded 85 dollars a barrel Thursday. Such levels were not affected for a year and a half. In the first quarter of this year, crude prices climbed 6.8%, with a substantial Implus this week: The Light Sweet Crude Oil, listed in New York for May delivery rose 5 , 5%, driven by a series of good economic indicators – including manufacturing activity – United States, Europe, and Asia, which reinforce the idea of an economic recovery faster than expected. And thus a rise in demand for oil more dynamic.

A sustainable upturn? Analysts doubt. Mike Fitzpatrick, senior strategist at MF Global, prefers to wait next week to decide."The euphoria may be a bit premature," he warns.

Especially since the stock figures released Wednesday were mostly negative, and a further increase in reserves is planned for next week. In addition, oil has benefited from the weak dollar, which has yet collapsed Thursday against major international currencies.

For several weeks, prices drift sideways between 69.5 and 83.9 dollars dollars. "The trend remains neutral in the short term," according to the technical analysis of Saxo Bank.But the technical analyst of the Journal of Finance, for its part identifies a strong potential for accelerating the rise in crude prices.

Promising indicators

They come mainly from China and Japan, which are respectively the second and third oil consumer in the world.

In China the two purchasing managers index rose in March, reflecting further expansion of manufacturing activity us fast cash.The index of the HSBC bank stood at 57 points, its third highest level since 2004 and the official index, compiled by the China Federation of Logistics and Purchasing (CFLP) rose to 55.1 against 52 in February .

Japan's Tankan index of confidence among large manufacturers rose in March for the fourth consecutive quarter, winning 11 points from December to -14 points. This is its highest level in 18 months.

The manufacturing activity has also accelerated in the eurozone and the U.S., according to the PMI and ISM published in each region respectively. The U.S. ISM rose to 59.6 in March, against 56.5 in February. The highest since July 2004.

Global demand will grow

On March 17, OPEC has not changed its production quotas, which remain to be 24.84 million barrels per day since 1 January 2009.For members of the organization, $ 80 a barrel, the price is "perfect" because it allows good balance supply and demand.

In an environment fraught with economic uncertainty, OPEC still sees a recovery in demand for crude. Global demand for oil is projected to increase by about one million barrels per day in the second half, he said. But it should mainly benefit producers outside the cartel, which represent 40% of the global withdrawal.

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