Current News Headlines

Cotton prices are in turmoil. While climatic factors threaten stocks, discussions on future crops are launched. Between two discussions, one word keeps coming: Bollgard. This is the full name of Bt cotton, the genetically modified cotton, marketed by Monsanto since 1996. This includes bacteria that produce toxins against the deadly caterpillar moths and weevils capsules.

Bt specifically eliminates these insects that attack plant capsules. It thus reduces the losses on a plantation. Coupled with lower production costs due to lower pesticide use, the argument has already won nine countries: the United States, Argentina, South Africa, Australia, Mexico, Colombia, India, Brazil and China.The cultivation of Bt cotton in 2009 and accounted for nearly half of the 33 million hectares dedicated to this crop in the world.

In the U.S., for 88% of the cotton area is devoted to him. The Chinese world's top producer, he provided 70% of its acreage. In India, cotton occupies 90% of the area as in Pakistan. In Africa as the "Bt" is gaining ground. In Burkina Faso, one quarter of the 115,000 hectares sown allocated to it and the country intends to expand production to 475,000 hectares with an expected gain of 100 million dollars this year.

Perverse

During the first years of its use, Bt cotton generated much enthusiasm on the part of observers. INRA in 2001 suggested an increase in yield of up to 80% for a 70% reduction of pesticide application.United States, a study by the National Cotton, dating back to 2000, reported an economic benefit of $ 50 per acre for the cultivation of Bt cotton

Ten years later publications show more distrust. "The effectiveness of Bt cotton is no longer sufficient," says Michel Fok, a CIRAD researcher, in a study published last July. Bt has had the perverse effect of open fields to new generations of insects more resistant. Caterpillars, spiders, bugs are multiplying and the sophistication of GM seeds to deal with these threats no fax payday loan dramatically raised prices.

The seeds have become four times more expensive than conventional seeds, $ 85 per acre in 2009 against $ 20 in 2005. The market was flooded by Monsanto, does not offer many choices for farmers. 'Bt is a short term solution.Its use becomes a vicious circle of indebtedness for the farmer, "says Jeremy Tager, GM campaigner for Greenpeace.

The issue is environmental. The products used to treat these threats are accused of depleting the soil. "The change was not clearly anticipated but it now operates in China and the United States to such an extent that the need to chemically control may threaten the continued production," concluded researchers at a conference on GMOs in Australia in 2009.

New GM at the horizon

Last March, for the first time in its history, Monsanto recognized a failure to meet these larvae. Having offered to farmers to use Bollguard 2, the firm will soon market the third generation, Bollguard 3. Other companies are following suit in the image of Bayer TwinLink with cotton or Syngenta."These new GM does not guarantee higher returns. They accelerate the vicious cycle. This system supports a model of intensive agriculture instead of a subsidized farming. The situation is extremely worrying, "says Greenpeace advocates finding a" balance "in research on crop improvement.

"With all of this, the appropriateness of a return to the cultivation of conventional cotton, to a degree not explained, is mentioned. There is already a reality in 2009, there have been 400,000 acres (a total area of 8.9 million cotton acres) and an area of 1.5 million acres is predicted 2010, "concludes Michel Fok for his part, CIRAD.

ALSO READ:

"Brazil is the challenge of biotechnology

"GMOs insecticides doubly modified

"A draft of the wheat genome published

During the month of August, when all friends are gone on vacation, a feeling of loneliness can soon make its appearance. That's why the site RentaFriend chose the summer to offer its services in the United Kingdom and France. Since last July on the other side of the Channel in recent days on the canvas hex, this website offers to rent an American friend in the true sense of the word.

For a subscription of 19 euros per month, or 54 euros per year, the site provides access to a database containing the profiles and contact information of 283,000 men and women worldwide. These people, they register for free, detailing their name, age, place of residence but also hobbies and passions. The 2500 subscribers can then contact them by email or telephone to offer them to accompany them to the restaurant, cinema, for a stroll, a VIP or travel.

The company to 8 euros per hour

If no tariff is imposed, the friend offers to rent usually a base price of 8 euros per hour. The latter, for which all costs are borne by the person who contacted him, pocketed the entire sum at the end of the day. The site itself, survives financially through paid subscription for access to the base coordinates. "The site is profitable," says founder Scott Rosenbaum.

According to the American version of RentaFriend, launched in October 2009, it has been the rental of their friendship their daily livelihood. "If you charge $ 20 an hour and you work three days a week, you can make $ 1,920 a month. If you work full time at the same hourly rate, you can reap USD 3,200 a month, "promises the site. "There is no obligation to be friends with anyone.You decide which bind with a friendship, how much you charge and how long you want to work. You make all the rules! You're the boss! ".

"A new way to meet people"

This type of site is already paying friendlies in Japan, where the archipelago are at least a dozen. RentaFriend exports so the project in Europe. From what to wear uncomfortable associations fighting against loneliness. "The idea of connecting people who feel alone with others is positive because the latter do not occur. But it would be better if it was not paid. The danger in this scenario to be in a relationship distorted trade, while the need to promote human relations, "says Peter Villelongue, association, St. Vincent de Paul who fight against the phenomenon.

"I think people do not fully grasp the concept.Nearly 90% of members are not alone, or depressed. The evidence shown, "defends Scott Rosenbaum facing controversy. "The most common use is that of finding a local friend to play the guide during a trip or looking for dialogue for learning languages. People buy the company, they lease time another person for a specific purpose. Scott Rosenbaum said he also "stunned" by the debate provoked by RentaFriend since its launch in Europe: "I thought the U.S. was prudish and that other countries were more relaxed," wryly creator of the site.

Pinned on the risks of sexual abuses, Scott Rosenbaum scans again the critics: "Every profile is manually checked and we have a system of alerts that words allow us to act. Anyway, there are thousands of website offering sex on the Internet.There is no reason for an individual to try on RentaFriend.

For the rest, Scott Rosenbaum is confident. "I was approached by organizations and private funds but for now, I'm not looking for investors. However, if someone is interested in buying, I'm willing to listen to offers, "he says. Meanwhile, the young man of 30 years is an international coverage by the end of the year. "People should open their minds and see the benefits they can derive rather than judge, consider til.

The U.S. stock markets continue their advance on Tuesday, as European stock markets and the momentum of the day on Wall Street. At the opening, the indices are green, but increases small. Very quickly, the Dow Jones up 0.37% at 10,564 points, the Nasdaq is up 0.44% to 2306 points and the S & P 500 by 0.44% to 1120 points ..

Yesterday, the market was driven by good news from the real estate sector still observed under the microscope by investors. Sales of new houses in the United States have indeed rebounded more than expected in June, 23.6%. On Tuesday, a new publication, the Case-Shiller index of home prices meets the individual operators stock market is increased more than expected in May in the United States, +0.5%, a move which still reflects a sustained level of sales, helped by a tax credit.The month of May and is the second consecutive monthly increase, a trend that comes after two months of consecutive decline.

Another highlight of the week at the macroeconomic level, the U.S. central bank should publish its Beige Book Wednesday on the economic conditions. It will be very guarded while the president of the institution, Ben Bernanke said Wednesday before Congress the slow recovery, with no announcement of new funding in the economy. But it was the day Friday with the first estimate of gross domestic product (GDP) U.S. second quarter is expected this week.

On the foreign exchange market, the euro continues against the greenback.Around 15:30, the euro was worth just under $ 1.30, but the threshold was crossed earlier.

The ball takes Publications

On the side of values, as BP leads the rating declining by 1.5% to 38.12 dollars in early trade Payday Loan for Bad Credit. The amount of the quarterly net loss of oil exceeds $ 17 billion, a record high. The group is preparing to sell $ 30 billion in assets and confirms the resignation of its CEO.

The U.S. financial services group CIT (-0.21% to 38.92 dollars), which serves a clientele of mainly SMEs, on Tuesday released a second consecutive quarterly profit and announced it had reduced its debt by three billion dollars.The net income was $ 142.1 million, and reported the number of shares equivalent to 71 cents, while analysts were not expecting that 33.

The group has however indicated that he had once again increased its provision for credit losses, bringing them to $ 260.7 million over the period April-June But this element, as well as pay increases decided to retain employees, was more than offset by asset sales, earnings and tax collectors.

For its part, the world's number one defense, Lockheed Martin (1.73% at 73, 17 dollars) Tuesday reported higher quarterly earnings expectations and raised its annual profit forecast by emphasizing buybacks and improved results in the satellites public.Net income for the second quarter was $ 825 million or $ 2.22 per share, against 734 million or 1.88 dollars per share in the second quarter 2009.

Today investors await quarterly results include sitting in the middle of those of DuPont.

Always on the side of values, the European Commission on Monday opened two investigations to IBM. It suspects the group of computer abuse of dominant position on the markets for servers.

The results fell on the strength of major European banks, is to know the verdict of the markets. Since Sunday morning, the stress tests are found in the test and the final verdict remains suspended from financial operators who often weigh heavier than the official figures and insurance.

Only 7 of the 91 banks have failed this test of strength, five Spanish, one Greek and one German. Their capital needs are estimated at 3.5 billion euros. We must add three who crossed the barrier but the recapitalization seems inevitable: the Italian Monte dei Paschi, Allied Irish Banks, Irish and German PostBank.Finally, the majority of European banks, the British and French in particular-seem to have redressed the balance.

The question now is whether the test can, as desired by the European authorities to lift the remaining mortgage, reboot, and finally the pump in credit to promote growth. By Friday, the European Union had welcomed the exercise as a vote of confidence. From Washington, the Treasury secretary, Timothy Geithner, hailed "a major effort towards greater transparency" on the health of the banks of the Old Continent. In markets, the euro rebounded to finish just below $ 1.29 after the close of European markets. Wall Street ended higher.

Consolidating banks at fault

Yet many continue to doubt the severity of the European round or its completeness.Unlike other countries, Germany has refused on Friday to force its banks to publish the figures on a main line of their balance sheets: assets in government securities, ie their exposure to the European budget crisis. In the coming days, a first return to the trust will be the willingness to consolidate the banks at fault.

Weighing his words, the IMF Managing Director Dominique Strauss-Kahn described the stress tests as "the promise of a considerable strengthening of the European financial system. It remains to implement. Greece and Spain have promised for the end of the year. Germany, she announced a major restructuring. This is the interbank market which will provide the second element of discretion. The situation has eased since the beginning of the summer.But lack of confidence, many institutions do not always manage to borrow in the interbank lending market, considered one of the keys to sustainable economic recovery in Europe.

ALSO READ:

"Stress tests": seven banks fail the examination

"Stress tests: shock at the Paris Bourse

"Europe is playing its credibility on its resistance tests

"INTERVIEW -" The stress tests are not tough enough "

Click on the thumbnail to enlarge the graphics.

Formality. Unless disaster, Laurence Parisot should be re-elected Thursday as head of MEDEF for three years. The boss of bosses is the only candidate to succeed him and won the support of 40 members of the executive board present at the May 31 (out of 45 members) in a secret ballot.

The boss of bosses was the only candidate to succeed him (photo credits Jean-Christophe Marmara to the Figaro).

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..

ALSO READ:

"The banks have taken the bad habits"

The courtroom of the courthouse in Paris, which houses the trial of Jean-Marie Messier called the auction room. Logically, during several recent financial trials, its walls were then vibrated to the sound of indictments handed in a loud voice, with, the key as auction, claimed to increase penalties in the form of year in prison or heavy fines.

On Wednesday, the auction room was very bad name. The remarks of the prosecutor of the Republic, Chantal Leyris were largely inaudible, the magistrate refused to use the microphone placed at his disposal. And the prosecutors took over the reasoning that led, last year, after investigation, to claim a non-place.But the word "relax" is heard, the prosecution did not request any penalty against former executives of Vivendi Universal.

Jean-Marie Messier, and a good portion of men who formed his staff at the head of the company, is considered from the beginning by the court. The legal case focuses on communication triumphalistic group, become a giant media and communications after its merger with Seagram, which controls including Warner Music. From the first day of the hearing, the former CEO has expressed a mea culpa about its "excessive communication."

On Wednesday, early in the indictment, the prosecutor concurs: "The Vivendi is not an Enron.This is not a fraud organized by the President. "Legally, the prosecution highlighted several weaknesses in the case conducted by the magistrate:" The element of intent was not taken into account in the definition of the crime . Or, on the issue of price manipulation, "Mr. Messier was referred to the court taking into account only the only conclusion of the sanctions committee" of the COB (now AMF). On the merits, Chantal Leyris exempts Jean-Marie Messier on several points. "There is ample evidence, she believes, for example, that the movements in the price of Vivendi September 25, 2001 are due to the normal balance of markets."

The defense of the accused must be expressed from this Thursday.It will do a similar tone, even if it is this time the tenors of the bar who give voice.

The reaction of Didier Cornardeau, president of the association of small shareholders assets:

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.

25% reduction of drug prices in Greece, 6% discount rates to 16% from August in Germany … Across Europe, governments are spending on health to reduce their deficits. France is no exception. The government fell in April the rate of return of 200 drugs. He also announced a few days ago to further declines in commodity prices, in order to save 100 million euros by December.

If the crisis and its recent upheaval amplify the movement, several years ago that states seek to reduce the cost of their health system.In particular burden on drugs, a position that has represented France 18% of health spending in 2009, according to the latest data from the drug companies' Union (LEEM).

The means of action are diverse: reduction in reimbursements, the generic substitution of original drugs, lower price … Some treatments are even questioned. The British health authorities have announced their refusal to repay the Tyverb, treatment of GSK cons breast cancer. Too expensive – several thousand pounds – while Stretch the lifespan of patients only a few weeks, said the Nice, the body responsible for determining the reimbursement of medicines.In France, the Economic Committee for Health Products (CEPS) said it would not exceed 50,000 euros per year per patient for certain treatments against cancer.

Facing pressure from governments, laboratories are struggling to defend their margins and their ability to fund research. A common strategy is to seek approval of existing drugs for new indications …. And Roche has announced that its treatment Avastin, already used for colorectal cancer and breast cancer, could make significant progress in cancer of the ovary. If studies confirm, this new market could yield a revenue of an additional billion Swiss francs.

Lovenox, Sanofi accumulates the same success.Launched in 1987 for orthopedic surgeries, he has seen indications gradually expand its knee, to abdominal surgery, treatment of thrombosis veinales, etc.. In twenty-three years, the second drug from Sanofi-Aventis has been prescribed to 200 million patients worldwide.

The labs often winners

To fully optimize the lifecycle of a molecule, "laboratories accept a wide range of strategies, Delphine Le Louet complete, a financial analyst at Lombard Odier.Some build their sales teams to capitalize until the last moment of a drug before its patent expires and is severely challenged by generics.

Other practices include an attempt to demonstrate the beneficial effect of prolonged use of a drug or alter the chemical structure of a molecule into a new, a priori, more efficiently and with less impact secondary. This was done by substituting the AstraZeneca Inexium Mopral in a few years ago.

These methods, which allow labs to compensate for the lack of innovation, often boil down to a battle on price. Sometimes this policy entry "by the back door." "The marketing of a drug for an indication may be reduced one way of obtaining a relatively high price at first.This is often the case for cancer, where treatments are very expensive, "says Claude Allary, managing partner of consulting firm Bionest.

Whether a deliberate policy or simply a desire to make a drug available as quickly as possible, laboratories are often winners. The anticancer Tasigna, introduced as the successor of Glivec in the treatment of certain leukemias rare, is the proof. Novartis is the bill now 50,000 euros for a one year treatment.

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.