The hosts were visibly in the starting blocks. Barely mentioned by the new Minister of Education, Vincent Peillon, a return to the week of 5 days in primary sparked an outcry from the hotel professionals.

A return to school on Saturday morning "no longer reflects the will of the French" ensures not without ulterior motives Thierry Grégoire, an official of the Union of Trade and Industry Hospitality (Umih). "The important thing is to preserve the weekend" went further Didier Chenet, president of the National Union of hotel, restaurant, bar and catering (Synhorcat).

If lifestyle is important for the French hotel industry professionals, financial concerns are not absent from their thoughts. A study by the firm Protourisme figure to 60 million per year the number of nights lost upon return to school on Saturday morning. Which is still 3 billion euros.

The hosts were on edge, not hesitating to protest the appointment of the new government Wednesday night. Didier Chenet was moved that "tourism has still not fully-fledged ministry." Sylvia Pinel is in charge of Tourism, but also of Craft and Commerce. Obviously this is not enough for industry professionals

.

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After Guadeloupe and Mayotte, it is the turn of the meeting to fight against high prices. If measures to lower gasoline prices and basic commodities were announced, anger persists. According to figures from INSEE, in 2010, prices were more expensive by 12.4% in Réunion in the mainland. A difference that amounts to 14 saving account payday loan.8% in Guadeloupe, and 16.9% for Martinique. In Guyana, where the price differential is highest, this amounts to paying twice the tax: a basket of goods (including rent) money is 19.6% higher than in metropolitan France.

Investigation of spatial comparison, INSEE.

In fact, it is especially risky assets, which suffer from fears of contagion cuts ratings of sovereign debt payday loan.Evidenced by the plummeting global stock indexes following the shock announcement Standard & Poor's. Over the past five trading days, the Cac 40 lost almost 8%, and the index companies were affected differently. These are "primarily growth stocks" that have suffered the most, says Patrick Artus, "since the fall of 2400 billion over ten years the U.S. deficit will cost a point of growth the first year." Over the period, it is almost 70 billion euros in market capitalization went up in smoke. The equivalent (almost) the biggest company in France, namely Total!

]]> http://chestnutchurch.org/bourse-de-paris-eur-70-billion-evaporated-in-five-sessions/feed/ 0 http://chestnutchurch.org/the-paris-bourse-expected-in-the-green/ http://chestnutchurch.org/the-paris-bourse-expected-in-the-green/#comments Mon, 01 Aug 2011 06:32:12 +0000 admin http://chestnutchurch.org/the-paris-bourse-expected-in-the-green/ Relief. Is the word that should prevail today on all global exchanges, after U.S. lawmakers passed this night finally put to agree on raising the debt ceiling. At 8:15, future contracts on the CAC 40 advanced sharply from 1.39% to 3724.50 points.

Last week, the inability of the United States to solve the problem of public finances had weighed on investor sentiment. In Paris the CAC 40 was indeed touched its lowest level in session year (3,630.75 points), while Wall Street finished its worst week in a year, despite the intervention of Obama Friday in an attempt to reassure debt.

After the relief 10 days ago on Greek sovereign debt, the calm would return to the Paris financial center.After weeks of negotiations, elected Democrats and Republicans have indeed finally found common ground on the amount of new ceiling, avoiding the world's largest economy is in default of payment in the coming days. According to preliminary information provided by the White House, the debt ceiling would be raised to 2.1 trillion dollars, which breathe new life in the United States on the forehead of the debt until 2013, after the presidential elections. This agreement in principle will also enable the countries to continue to borrow on the markets beyond the August 2 deadline set by the Treasury.

The reaction of rating agencies expected

On the other hand, no excessive optimism are to be expected in the financial markets today, at least until the U.S. Congress has not ratified the agreement. The first submission is expected to vote that day.Furthermore, few details have yet filtered on measures taken to reduce the deficit in the U.S., which does not exclude the possibility of deterioration in the rating of the sovereign debt of the United States.

For now, the first tranche of spending cuts of $ 1 trillion is expected. Then a bipartisan special committee of Congress will then be responsible for finding the end of November additional expenditure cuts amounting to 1.5 trillion dollars. A total of 2.5 trillion dollars in budget cuts, all over 10 years. From this point of view, the reaction of rating agencies in this agreement called the "medium term" should be widely followed by the markets.

On the currency front, the dollar has benefited only modestly from the announcement of the night, illustrating the temporary nature of such an agreement.At 8 am, the euro fell slightly (-0.13%) against the greenback at 1.4385 dollar, while it bounces against the yen. Around 6:00, the dollar stood at 76.73 yen 77.58 yen against Friday night cash advance in one hour.

In terms of oil prices were up Monday morning in electronic trading in Asia, where the market relieved by this agreement in extremis. In morning trading, a barrel of "light sweet crude" for September delivery gained 1.53 dollars to 97.23 dollars. That of Brent North Sea crude for September delivery was appreciating $ 1.25 dollar to 117.99.

Macroeconomic side, investors should look carefully at the unemployment figures for the month of June Overseas are also expected to 4:00 p.m. construction spending for the month of June, the ISM manufacturing index for July.

As for values ​​to follow

Last week, the many semi-annual publications were rather disappointing, adding to the nervousness of investors. The pace slows publications this week, though are expected in the next three days the details of the interim bank values ​​(Tuesday BNP Paribas, Societe Generale on Wednesday and Thursday Axa and Natixis).

Eiffage reported a slight slowdown in growth in the second quarter despite a sharp rebound from its construction activities, the division of public works who registered a decrease over the period.

Outremer Telecom. A draft tender offer simplified to the telecom operator was introduced by OMT Invest, a structure controlled by Axa Private Equity, according to a notice to the Financial Markets Authority (AMF) and released Friday.

EDF Energies Nouvelles (EDF ENR) has entered into exclusive negotiations with Capital Perceva to cede control of Supra, the fund feeds the project to file a simplified takeover bid at the end of the process.

General Health issued a sharp drop in operating profit in the first half due to exceptional items, but its revenue rose due to higher acute care stays.

Recylex published Friday sales for the second quarter increased significantly, from 32% to 125.34 million euros, supported by an increase of 48% of its business in recycling lead thanks to rising 16 % of lead prices and increased sales volumes.

Air Liquide. The gas giant reported Monday a 11% increase in net profit in the first half, to 750 million euros.It maintained its forecast a "steady increase" in net profit for the year.

Note that Gameloft will publish its interim results after market close, while Le Noble Age unveil at the same time state sales for the same period. The British bank HSBC, which is listed in Paris, finally published its results for the first six months of the year.

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How to recognize a counterfeit bill? "First is the button: the ticket must be firm and crack when it is bent, and some inscriptions in relief is palpable. Then you look at it: we mark the traditional watermark, the black security, we detect signs of security by transparency, etc..And then tilts: the band or disc holographic silver toggles the face value and the € symbol, "said Francis Coustin, communications director of the Bank of France, stating that there are eight recognizable security features of immediately, then another series of signs visible with ultraviolet light, which traders often have, and finally other signs that only the European Central Bank and national central banks can detect. In all, there are 63! (See the interactive presentation of the security features of the ECB)

The ECB shall ensure consistently maintain its technological edge on the counterfeiters, who face risks thirty years' imprisonment and 450,000 euros fine. The Bank of France, also a civil party, does not claim a symbolic euro in damages.Within the Eurosystem, work is underway to develop a second series of euro banknotes, the theme will look like the current (see box).

A ticket is damaged, torn, not calcined is not lost

Think again if you think the ticket you just go to the machine, or your child has torn, is worthless. While it may legitimately be refused by your merchant, but the Bank of France, she will be able to replace them. In extreme cases – ticket sales, burned, burned, mutilated, wet, soft, bonded, etc.. – It is always possible to be "paid" but for a fee of 20%.

Francis Coustin the occasion of the exhibition Euro: the exhibition at the Cité des Sciences and Industry at La Villette (Paris XX) until September 4 – which comes in a fun way about the history of the euro, its manufacture, the security features of tickets, etc..- Chronicles the misadventures of people who burned their tickets, ensuring that parts of the Vatican, Monaco or San Marino (Italy) should be retained as they are rare … and therefore valuable, but warns, however, that collecting tickets francs (date of exchange limit, February 17, 2012) does not promise any profit, "they will be worth nothing then strictly."

Euro: the exhibition, organized for the first time in France, the European Central Bank and the Bank of France, has already attracted over 100,000 visitors in recent months in Europe, from Barcelona to Tallinn via Rome or Berlin.

Cotton in the mass circulation

• How does one manufacture a ticket?

To make the paper is bleached cotton fibers (only one note is made of cotton) in a water bath at high pressure and high temperature.The resulting pulp is then passed through a paper machine. To obtain the special paper, called Paper Trust, own bank notes, are incorporated in the paper some security features such as watermarks and security thread.

• Where do we manufacture the tickets?

In Europe, paper is supplied banknote paper to the fourteen high-security printers who print the euro banknotes in the European Union. In France, since 1915, tickets are no longer manufactured at Bercy, in Seine-et-Marne, but Chamalières (print) Auvergne – nothing to do with Valerie Giscard d'Estaing, who became finance minister from 1962 to 1966 -, and Vic-le-Comte (stationery). A year earlier, the Paris site was briefly occupied by the Germans, hence the decision to relocate the "safe" to an area less exposed.

• How many tickets are made in France?

In 2010, 2.45 billion tickets were delivered by the Manufacturing billest which 1738 billion euro, central banks outside the euro zone commander in France tickets. Every day, these are some 6.7 million tickets that are born in Auvergne.

• Where do the tickets then?

Once made, the tickets are sent to branches of the Banque de France equipped with crates. Then carriers (Brinks, etc.). Come back to supply banks, which themselves carry out their distributors, or retail, which brews each day astronomical amounts of cash, and merchants.

• How long does a ticket?

Tickets and circulate from hand to hand, and come back regularly and the Bank of France, which sorts all tickets at once, to put back into circulation as tickets safe and in good condition. To do this, sorting machines at high speed are used to check in a split second the authenticity of tickets. Notes unfit for circulation are destroyed and replaced.Finally, an average, the average life span of a 5 euro note is fourteen months and that of a ticket 50 euros for three and a half years.

• Some rules to know:

– A merchant has the right to deny him a ticket that looks suspicious, a merchant can refuse to cash more than 50 pieces in a single payment, a merchant has the right to refuse a big ticket for a small purchase: the customer must to the extra-A trader does not have the right to refuse display notes 100, 200 and 500 euros denying a legal tender banknotes is punishable under the Penal Code-If I a ticket printer or scanner, I am off-the-law.

The design of banknotes and coins

• Tickets continennent all a European monument and a bridge. But if some drawings look fiercely at a known site, none really exists.In December 1996 that ended the contest European models of the euro banknotes, which was won by Robert Kalina, designer of the National Bank of Austria. Gaphisme inspired by the architectural styles of seven periods in the history of European culture: the classic notes of € 5, the novel for those 10 euros, Gothic for 20euros, the Renaissance for 50 euros Baroque and Rococo for 100 euros, glass and steel to 200 euros, and the architecture of the twentieth century for 500 euros.

• As for parts, the idea was that they have a common European side (battery) and the national side (face). A European competition was then held to select the number of common sides. The winner was Luc Luycx, graphic designer at the Royal Belgian Mint. And in the end, the 17 countries of the euro area are some 136 different pieces move.The choice of the national side has done differently in each country. In Italy, the themes were selected by viewers of the Italian channel RAI. In monarchies, the effigies of kings were most often represented.

"Join the game" Rally France Euro 2011 for children aged 9 to 12 on www.euro.ecb.eu

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"One of the members of the commission has indicated that he was later forced to recuse himself," said Gerard Palisse, president of the petitions committee of the Court. This is Laurence Fradin, magistrate at the Court of Auditors and wife of Pierre Joxe, former Socialist Minister of Defense and the Interior of François Mitterrand, as was Bernard Tapie. Judicial source, the judge cited a possible conflict of interest.

Gerard Palisse stated that "the alternate member of the Court which could have us make up for his part that he himself was unable to do so immediately without prior knowledge of the case.The Committee decided to defer consideration of this matter Thursday, August 4. "

The survey would be long

The former Minister of Economy and current executive director of the International Monetary Fund (IMF), is suspected of "abuse of authority" in the arbitration in July 2008 on the case Tapie, Credit Lyonnais on line pay day loans. The businessman, who felt cheated after the sale of Adidas in 1993 with Credit Lyonnais, had obtained 285 million euros of public funds.

In May, the Attorney General of the Supreme Court, Jean-Louis Nadal, asked the petitions committee of the RGC to investigate the matter. He specifically criticized Christine Largarde for choosing private arbitration, but also refusing to appeal against the award, while the number of specialists are encouraged.If the Court decides to initiate the investigation, it should be long and Christine Lagarde would not be considered for several years. The new leader denies IMF, meanwhile, abuse of authority in this matter and have provided "clear conscience".

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So, in the wake of Wall Street Monday closed sharply higher, Bourse de Paris amplifies gains the previous day. The Cac 11 hours 40prend to 0.77% at 3825.83 points.

On the currency markets, the euro is stable against the dollar at 1.4279 dollar.For their part, oil prices rebounded in electronic trading in Asia Tuesday and remained under pressure, before the 48-hour strike in Greece to the appeal of unions to protest against austerity measures, analysts said . In morning trading, a barrel of "light sweet crude" for delivery in August gained 36 cents to 90.97 dollars.That of Brent North Sea crude for August delivery was taking 25 cents 106.24 dollars.

Housing: housing starts and building permits up

On the macroeconomic front, the number of starts of new homes increased by 11.4,% year on year in France for the period from March to May, while the number of building permits for these homes has increased 4.3%, according to figures from the Ministry of Housing.

At 18 hours, will be published the figures for registered job seekers and offers collected by the job center in May.

In the U.S., the S & P / Case-Shiller of home prices in April (15 hours) and consumer confidence in June (16 hours) are also expected.

Carrefour jumps, Casino unscrews

Against a background of optimism about the outcome of the parliamentary debate on the budget austerity in Greece, the banking sector performs well: Crédit Agricole climbed 2.50% to 9.87 euros, Societe Generale is 1.54% to 38.25 euros, BNP Paribas rose 1.10% to 50.71 euros and Natixis gained 1.04% to 3.29 euros.

EADS: 0.09% to 22.07 euros

China could control dozens of Airbus during a visit of Chinese Premier Wen Jiabao Tuesday in Berlin, said on Monday sources familiar with the matter credit report.

Carrefour: 1.97% to 26.86 euros; Casino: -3.58% to 64 euros

The distribution group received Monday a "proposal" to create Gama Brazilian joint venture equally owned by both groups in Brazil, the latter to eventually become a shareholder of Carrefour.Casino intends to disturb their alliance, saying the project "hostile", prepared in secret, but against which "has the power to oppose."

In addition, the rating agency Fitch has downgraded the French retailer Carrefour up a notch to BBB +, along with a negative outlook, expressing concern the pace of recovery activities and French pressure from shareholders, according to a statement Tuesday.

Thales: 0.46% to 28.52 euros

According to an internal study cited by the Tribune, the electronics group shows a drastic decrease of 13% of customer satisfaction since the arrival of the new direction. Some regret the centralization of applications and other lack of attention to their concerns.

Lagardère: 2.95% to 28.57 euros

Analysts at the Swiss bank UBS raised their recommendation on the title to "buy" against "neutral" before.

Trigano: -3.36% to 22.27 euros

The specialist for caravans and motorhomes has said it expects a sales growth and results in 2011, following growth of 8.2% of its business in the third quarter, which covers the period from March to May

Teleperformance: -4.49% to 19.90 euros

The global call center cut its operating margin target in 2011 because of the recent slowdown in its business in the United States.

BioAlliance Pharma: 2.33% to 6.15 euros

The biotechnology company said it had filed with the French Drug Agency an application for leave to Phase III clinical trial for Livatag, treatment of primary liver cancer.

CGG Veritas: 1.14% to 23.45 euros

The group signed with the oil services group Bourbon marine services to offshore oil and gas a charter contract for five years to six new vessels support and assistance to its seismic surveys.

Alstom takes 14 hours to its General Assembly on Tuesday.

Significant support before a crucial week for Greece.In fact, while the Greek Parliament will vote on Thursday, the new austerity plan required by the EU in exchange for the release of the next tranche of 12 billion euros, the Greek deputy prime minister warned that recalcitrant MPs could block some reforms sought by donors. Theodore Pangalos believes that overall the plan should be passed but the new tax reforms and privatization of national companies should be difficult to adopt, he warned. Yet the majority of the Papandreou government is reduced, the ruling PASOK deputies out of 155 and 300 Greek opposition repeats it rejects the call for a united front.

At the same time, France came up with a new plan to allow the private sector to help Greece, reveals Le Figaro.In the night from Friday to Saturday, the French Treasury and financial institutions have agreed on a scenario that will allow private creditors to subscribe to new Greek government bonds on a voluntary basis.

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The movement is otherwise identical to other European markets. The Dax index featuring the Frankfurt Stock Exchange, which opened down 0.85% at 7155.86 points, losing 0.96% at the same time points to 7148.25. The FTSE-100 index of London Stock Exchange, which started on a decline of 1.06% to 5965.02 points, its share reduced its losses to -0.76% at 5883.67 points.

The mood has changed beyond recognition from the beginning of the week.Greece seemed to approach Wednesday in an agreement with Europe and the IMF for further financial assistance, which could avoid insolvency. But the announcement a few hours later by a new Moody's downgrade of the Greek debt was added to the fears already heavy burden on Athens. Judging probable restructuring of the country's sovereign debt, Moody's downgraded three notches the rating of the country, pushing further into the speculative grade.

For its part, Spain has managed to raise 3.953 billion euros of bonds 3 and 4 years on the market but, despite strong demand, the rates reflected on the rise.

In this context, risk-taking are not numerous. The activity is minimal anyway since France, Ascension Thursday is a holiday.Upcoming Events, however, some indicators should capture the attention of investors present electronic check payday advance. They are mainly American with productivity quarterly, weekly jobless claims and industrial controls.

Note that the currency market, the euro remains strong against the greenback at 1.4475 dollar. Oil prices, they were down in electronic trading in Asia. In morning trading, a barrel of light sweet crude for July delivery yielded 21 cents to 100.08 dollars. That of Brent North Sea crude for delivery same lost 8 cents to 114.45 dollars.

Values ​​to follow

As for values, no news.Stay tuned, however:

The banking sector

High risk debt Greek, French banks react poorly to the degradation of the country note by Moody's: Societe Generale (-0.12% to 40.47 euros), Credit Agricole (-0.47% to 10.48 euros), BNP Paribas (-0.93% to 53.30 euros) decline. Only Natixis (+0.22% to 3.64 euro) is in green.

AXA (-1.83% to 14.78 euros) also declined.The day before the title had been the star of the CAC 40 gained 1.45%, boosted yesterday by the announcement of its new strategic plan and the sale of its Canadian subsidiary.

TF1: -1.28% to 12.38 euros

The group said Wednesday it had received offers "constructive" of several Internet service providers to distribute its pay-TV from 2012.

Trading in Gecimed remain suspended until the opening of the buyout offer followed by a withdrawal bond, its parent company Gecina (-0.59% to 99.41 euros). This opening will be later than June 8, after payment of dividend.