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On one stone? Intense negotiations are under way for at least a solution, at least in part, to two simultaneous problems: the failure credit faced by French local authorities, and the fragility of the balance sheet of oversized French-Belgian bank Dexia.

Concordant sources, in fact, Dexia, the Deposit Bank and postal workers, under the watchful eye of the state, to create a new bank, public, local communities. Friday, none of the parties did not wish to make comments.

The new entity will take over long held by Crédit Local de France (CLF), ancestor of Dexia, with mayors, councils and other French regions.Its creation would be an opportunity to ease the minds of elected officials, heated by the explosion of interest on certain loans "toxic", including underwritten by Dexia before 2008. The new state-owned bank could put forward a much more wise.

Above all, his arrival on the market would open the tap of credit to local communities. In a financial crisis, Dexia and its competitors, such as savings banks, Societe Generale and foreign banks have largely abandoned this market in recent months.

The Postal Bank and the Caisse des Depots would hold society together, Dexia that may remain a shareholder.They should also take control of all or part of the loan portfolio of existing communities with Dexia French (70 billion euros) and Dexia Municipal Agency: such operators shall ensure, by means of mortgage bonds, the refinancing of the commitment of Dexia. A new ownership would bring also the financial strength necessary to maintain its "AAA" rating.

Pirouette history

For Dexia, the operation could be an opportunity to significantly reduce its balance sheet totaling more than 500 billion euros personal business card. It has already been reduced by 15% year on year, thanks to the divestment of assets made in the first half. But despite this recent treatment, the group remains fragile, especially in the current distrust of markets against financial groups in Europe.

"The idea is on the table.Its terms are far from being arrested, "said a source familiar with the matter. The role of Dexia, the volume of the transferred assets, their quality – particularly with regard to loans that are the subject of disputes with communities who have subscribed – all of which are still on the table. Many criteria which depend then the financial terms of the transaction.

The reactive pattern of lines of inquiry explored from 2008-2009. Even then, the idea of ​​the deposits of La Banque Postale deal with Dexia loans (assets of French local authorities are placed in the Treasury) was considered. The arrival of the CDC in the capital of La Banque Postale has facilitated the project. The project has also the flavor of a sacred spin the story to the Fund: Crédit Local de France was born of a branch of the Caisse des Depots, which then end up twenty years after a historic activity.But for the CDC, the issue is complex: it has (with the NOC) 20% of Dexia, it has recapitalized with the Belgian shareholders in 2008 to see the action rolled back in recent months. Perform an operation which finally reduces the bank's balance sheet and liquidity requirements would constitute a significant step forward. This is what its proponents would argue with the board, including representatives from Belgium, possibly as early as next Tuesday.

A new session promises to be eventful Thursday on Wall Street. Futures on the Dow Jones fell by 2.06% to 10,831 points, those on the Standard & Poor's let go of 2.23% to 1136.10 points and the Nasdaq lost 2.32% to 2208.20 points.

Like European and Asian stock markets, Wall Street should not escape the anxiety of investors pessimistic after the U.S. central bank on the global economy. The central bank has held that the U.S. economic recovery was "slow" and threatened by "high risk".

For this, the Fed announced an operation to extend the maturity of the assets it holds up to 400 billion dollars by June 2012."One can interpret this decision by the Fed as the will not to launch a" quantitative easing "3 (monetary easing to boost the U.S. economy) in the immediate future, says Arnaud Poutiers, executive vice president of IG Markets short term personal loan. Indeed, "Operation Twist" is intended to influence the long bond rate, but without increasing the size of the Fed's balance sheet, so without creating money ".

On the currency markets, the euro continued to sink against the dollar: the euro back below the $ 1.35 (-0.91%).

On the corporate side, Moody's lowered the credit ratings of Bank of America, Wells Fargo and Citigroup. The agency that the state may fly to their rescue.

United Technologies will buy the equipment for Goodrich Aircraft $ 16.5 billion (12.2 billion euros) in cash, a transaction that would be the largest acquisition of U.S. industrial giant in 10 years.

FedEx has reported an EPS according to the consensus of $ 1.46 per share in the first quarter, a turnover of 10.52 billion dollars (against the consensus of 10.32 billion dollars).

The acquisition of Direct 8 Direct and Star channels by Vincent Bolloré Groupe Canal + causes a shock wave with unprecedented media players. All appeal to the Higher Audiovisual Council (CSA) and criticize the slowness of the regulator to take a position on the future of digital terrestrial television.

Financial markets have been quicker to react. Indeed, TF1, which has focused its entire strategy on the fierce opposition to a free channel developed by Canal + – Canal 20 – lost 7.2% Friday on the Stock Exchange. Similarly, the title M6 tumbled 6.51%. Conversely Bolloré won 3.37%, analysts hailing the financial bargain. Finally, the titles NRJ (+0.7%) and NextRadioTV (-0.39%) were well maintained, the market focusing on the sale of their television assets.

Next operator, TF1 was walled in silence.M6, however did not fail to remember that in 2005 had played the Cassandra of PAF: "From the launch of DTT," said Nicolas de Tavernost, CEO of M6, "we warned that new entrants to the television would be the first out. And it did not fail to be realized: The group Pathé came out quickly, followed by groups AB and Lagardère, and Bolloré today that even before it has completed the acquisition of Virgin 17 has already sold! ".And the boss of M6 denounces "the enrichment of certain due to bad political decisions."

Let the TNT in the sole hands of incumbents

For Nicolas de Tavernost, it would have been wiser to let the TNT in the sole hands of the historical actors committed to long-term rather than opening the landscape to new players: "This only impoverish the sector" , he notes "The new entrants have pocketed more than € 1 billion – out of Pathé, that of AB for 525 million, 70 million of Lagardère and now to 465 million Bolloré Ed -. Much money is wrong sector and creation! This represents almost a year cost grid of TF1, and a year and a half program M6.I hope in the future, the CSA will take its responsibility and shall cease to grant frequencies to new entrants, "he says.

A challenging position that Alain Weill, CEO of NextRadioTV BFMTV and claiming to be "a long-term player like NRJ. Neither one nor the other have sold one of our assets. Today the market is recomposed out of all control and outside of government. Because we do not see how the CSA will be able to oppose the acquisition of Direct 8 Direct and Star by Canal +, "Storm Alain Weill," Today I ask the government: I hope that they let me develop my group, or do I accept offers that can not stop me to sell my assets? ". Alain Weill claims to have been in contact during the summer with a potential buyer, a large German operator.For his part Jean-Paul Baudecroux, the president of the NRJ Group regrets "the immobility of the CSA, a year ago, advocated a call for applications for new frequencies. All the evidence that we were right to claim the body and cry a second frequency. It is the mission of CSA to maintain pluralism. "

Presentation of the report of the TNT to the Prime Minister

Michel Boyon, president of CSA presented its report Friday afternoon knew the future of TNT to François Fillon. He will detail Monday as the sector has been waiting several months his positions on the future of TNT. Michel Boyon made recommendations that take into account several scenarios. In particular, the one where Brussels does not validate the legality of the famous lines that were to be granted compensatory … incumbents.He will have to consider a new scenario: one in which Canal + bought Direct 8 Direct and Star.

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Markets as nervous, there are words that come to wave the red flag when a decision. In reporting on Thursday that the U.S. financial regulator was concerned about the liquidity of European banks, the Wall Street Journal triggered a new access of hysteria on bank stocks.

If French banks, Societe Generale, in particular, were stigmatized last week, the storm did not make a market area yesterday. The Barclays dipped by 11.5%. Fellow HSBC lost nearly 6%, slightly less than Deutsche Bank or the Italian UniCredit. In Paris, Crédit Agricole and BNP Paribas were down about 7%, while Societe Generale unscrewing of 12.3%. The Franco-Belgian Dexia, meanwhile, lost about 14% of its stock value.Following the opening of Wall Street, U.S. banks have followed the same slide.

The Wall Street Journal, the New York Fed, the financial regulator of Wall Street, puts the pressure on the U.S. subsidiaries of European banks strengthen their liquidity cushion. History of securing their record if their parent would have problems. Most European banks overseas do not have their networks providing local funding. As a result, access to resources in dollars can be complicated for these players. An unidentified European bank and borrowed $ 500 million Wednesday to the European Central Bank.

The quest for the dollar

During the 2008-2009 crisis, European banks had largely entered the office of the ECB for greenbacks for force feed their trading activities or loans in the United States payday loans.We are still far from levels at the time. In May 2010, the Fed and the ECB have replaced the pipes essential to enable them to exchange their currencies.

Since the beginning of the crisis of sovereign debt in Europe, the major concern is that it degenerates into a crisis of liquidity. That is the risk aversion is exacerbated to the point that banks no longer find funds to finance themselves, as was the case in 2008 after the fall of Lehman. On this side, the signals are not very positive. For many small Spanish banks or European banks, the ECB has become the only means of financing.

In recent months, U.S. money market funds began to withdraw from European banks. Last week, the fear that Chinese institutions are following suit had revived the panic over bank stocks.

The problem is that markets are not the only doubt.Regulators also are concerned, not just the United States. London, Paris or Milan engage in the same fight. Remembering how Lehman has siphoned off three days before its bankruptcy all the cash from subsidiaries in Europe to repatriate to the United States, each jurisdiction dearly defended its interests. "We are witnessing an escalation of the regulators," recalls one banker.

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"The Paris Bourse tumbles 5.48%

"SPECIAL – Depression, fear of debt

After the storm that plunged all the stock exchanges, the European stock exchanges succeed they stay in the green on Thursday? In Paris, after opening up 2.96% to 3092.16 points, the CAC 40 went back down just before noon and sank below the threshold of 3000 points, already briefly reached Tuesday. At midday, the index yields 0.69% in Paris 2983.16 points. A drop accelerating since even at 14 hours, he drops 2.40%, weighed down again by the bank stocks. In Frankfurt, the Dax is in the green at 5688.28 points, up 1.33%. The FTSE-100 index of London Stock Exchange is reluctant, for his part. He found the balance to 5011.65 points after spending a few minutes in the red.

The concerns are far from being dissipated, particularly those relating to the slowdown in the global economy and the issue of sovereign debt on both sides of the Atlantic.The overwhelming investor nervousness could therefore persist while no major indicator is the program on Thursday.

Wednesday, the markets were shaken by rumors of a deterioration in the rating of France, immediately denied by the rating agencies and the French government, and concerns about the health of the bank Societe Generale. And the CAC 40 plunged 5.45%, narrowly escaping the psychological threshold of 3000 points to 3002.99 points. Other European markets have suffered the same drop Frankfurt dropped 5.13%, 3.05% London. Madrid and Milan 5.49% 6.65%. In New York, the Dow fell 4.62% and 4.09% for the Nasdaq. However, on Thursday, appeasement was back on the Asian stock markets that are returned to the green or showed moderate declines.

Societe Generale attacked again

Gold continues, meanwhile, fly from record to record.The precious metal has crossed the threshold of 1800 dollars. It is this Thursday morning in 1790 dollars, after hitting a new record of 1815.50 dollars. However, oil resumed its decline in Asia. Yet he had resisted the panic the day before with the announcement of a dramatic and unexpected decline in crude inventories in the United States. In morning trading, a barrel of "light sweet crude" lost 79 cents to 82.10 dollars and that of Brent North Sea fell by 1.10 dollars to 105.58 dollars.

Among the values ​​to be followed, the bank that have been heavily tested yesterday. The Financial Markets Authority (AMF), the stock market regulator, announced that it will monitor developments in the securities sector.Shortly before noon, BNP Paribas (-5.88% to 33.515 euros), and Credit Agricole (-1.51% to 5.981 euros) and plunged into the red after yet open on a rebound.

The title is particularly battered Societe Generale: having lost 14.74% Wednesday, it opened on a rebound of almost 9%. But again plunges 4.13% to 21.265 euros."The willingness of these attacks is to force the SG to a capital increase, which is the workhorse of some analysts and hedge funds in recent months," said an analyst based in Paris at the agency Reuters. "Their reasoning is that the group does not generate enough capital to cope with the capital ratio of over 9% in 2013." The bank, already shaken in 2008 by the Kerviel affair, only to find the investor confidence after several warnings about its results during the financial crisis.

For its part, the CEO of the bank, Frédéric Oudéa, denounced, in an interview with Le Figaro, "the series of attacks" against the French banking sector "sounds completely fantastic, I struggle with the utmost force, attacked Societe Generale, "he lamented. "We have no fear about our ability to raise capital," he added.SocGen has asked the AMF to investigate the origin of the rumors that have depressed its course Wednesday.

Veolia Environnement (4.61% to 10.55 euros) and STMicroelectronics (3.39% to 4.488 euros), especially titles attacked in recent days, return to the field.

In addition, EADS (1.66% to 20.24 euros), the parent company of Airbus, said Wednesday it will not achieve its objectives in the United States in 2020 without new acquisitions.

Title Alcatel-Lucent (2.11% to 2.324 euros) is expected to rise following the release of quarterly results from Cisco Systems, above the consensus of Wall Street.

L'Oreal (2.29% to 1.73 euros) should benefit from the decision by Goldman Sachs, which added its list of preferred European stocks to buy ("pan-Europe conviction buy list").

Saint-Gobain (1.11% to 31.775 euros) has announced the acquisition of Solar Gard, a subsidiary of Belgian group dedicated to Bekaert Specialty Films, as part of its strategy to accelerate its growth through acquisitions.

Maurel & Prom rose 4.22% to 12.35 euros after opening up over 8%. The oil company reported a surge of 123% of its revenue thanks to increased revenues in Gabon and Nigeria.

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Things are further complicated in the case of Carrefour in Brazil. On Tuesday, during a special meeting, all directors of the Casino dealer rejected the proposed merger between Carrefour and its Brazilian subsidiary CBD Pao de Açúcar (GPA). "The Board found unanimously that the proposed financial transaction is contrary to the interests of GPA, to all its shareholders and Casino. He recalled that this proposal, unsolicited, is hostile and illegal, "said a statement.

Only the Brazilian businessman Abilio Diniz, who has operational control of GPA on par with Casino in the holding Wilkes, reaffirmed its support for the project "and did not want to vote," says statement.

"Significant execution risks"

To justify this choice, the directors draw up a list of all the issues raised by the transaction size. According to them, "this operation is based on a strategic vision for GPA wrong" with such an increase in the hypermarket segment, "even as market share in this segment are experiencing a continuous decline." Moreover, "the estimates of synergies in support of this operation are well above the levels announced at similar operations.They amounted in effect to 3.2% of revenues in 2010 combined, against an average of about 1% of synergies announced at ten comparable transactions. "

The Board also points the finger at "excessive concentration" in some cities which could lead to intervention by competition authorities as well as "important managerial risks GPA." From a financial point of view, the operation would otherwise be detrimental to the shareholders of GPA because it relies on "an unnecessary dilution via the entrance to the capital of the Brazilian National Development Bank (BNDES) and BTG Pactual up 2 billion euros. "Finally, administrators are concerned that the merger does take GPA "company operating in an unregulated holding company undergoing a deep discount."

On this, the Board of Directors has appointed its president "to present as soon as possible the position of Casino on the board of Wilkes and, more generally, the claim in accordance with existing agreements and Brazilian regulations. "

The Brazilian government does not follow

This news comes to worse for Carrefour. This morning, the group has faced the decline of the Brazilian government that supported the project yet. "The way the agreement was handled was disappointing and the government has decided to withdraw its support for the financing of the Brazilian National Bank for Development (BNDES)", said a senior official who requested anonymity.According to the latter, governments could review their position if the terms are changed.

Last week, BNDES announced that it would not choose his camp, suggesting that its participation would be conditional on an agreement between the parties. Comments that had been called since retreat was originally agreed to support the financing agreement amounting to two billion euros, even calling the operation "economically interesting and viable" and creative "value for all parties concerned. "

Pressure

Since early July, the case takes a turn for legal and political. The federal prosecutor has asked Brazil's BNDES him clarify the origin of funds used and if it will be in the public interest. The public bank has fifteen days to respond.Opposition parties in Brazil for their part, strongly criticized the involvement of the public bank in the project. MPs have called for him to come Wednesday explained to them. For its part, Abilio Diniz assured last week to have alternative funding in case of withdrawal of BNDES.

Meanwhile, around 15 hours on Euronext Paris, as Carrefour has one of the largest drop in the CAC 40 index with a decline of 3.08% to 21.90 euros on a market down 1.18%. For its part, the action Casino loses 1.14% to 62.68 euros.

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The CAC 40 is still at a standstill on Monday in the Paris Bourse, after taking the opposite of Asian stock markets, notably Tokyo, weighed down by disappointing statistics, and uncertainties about the evolution of the global economy. On Friday, the benchmark index in Paris ended its session was clearly in the red (-1.90%) and signed a sixth consecutive week of decline, erasing its gains since the beginning of the year. On Monday of Pentecost, the absence of much investors account for a sluggish market, with only 0.5 billion traded in mid-session.At 24:15, the CAC 40 only increased from 0.06% to 3807.46 points.

Same hesitation on other European markets, the DAX index of the Frankfurt Stock Exchange edged down 0.13% at 7060.83 points, while the FTSE-100 Square London rose 0.15% in 5774 , 72 points.

Clearly, the objective of the meeting is to keep the bar of 3800 points, narrowly saved at the end of last week. No major macroeconomic indicator is expected for Monday of Pentecost. In this day of solidarity in which the majority of employees stay home, the absence of major market operators does not help to draw a clear trend. Especially as the business side, no publication is awaited. Again, macroeconomic considerations seem to drive the market for the first weekly session.From this perspective, markets are still awaiting a convincing answer to the Greek situation, before returning to a sustainable uptrend.

These same concerns also continue to weigh on the European currency. Side currency, the euro lost indeed some ground against the dollar Monday in a market without much direction, and still hanging on the progress of discussions between EU leaders. They are still struggling to find agreement on how to continue to provide financial assistance to Greece. Around 11:10 in Paris, the European single currency was worth 1.4336 dollars against 1.4348 dollars on Friday night after coming close last Monday the threshold of $ 1.47 for the first time in a month.

Same side of the volatility of oil prices in a market torn between the prospects of increased production by Saudi Arabia and the maintenance of quotas decided by OPEC.In morning trading, a barrel of light sweet crude for July delivery lost 9 cents 99 payday loans.20 dollars. That of Brent North Sea crude for delivery gained 13 cents to equal 118.91 dollars.

As for values ​​to follow

Altran (-0.44% to 5.22 euros)

Yves de Chaisemartin lost Friday the group's management, the Board of Directors of the technology consulting company has designated Philip Hall to replace him.

Air France – KLM (0.99%, to 10.65 euros)

The airline's traffic in the Paris airports Roissy and Orly airports may be disrupted on Monday due to a strike notice filed by a union of mechanics on the ground, have we learned from the company.

Peugeot lead the CAC40 (1.75%, to 27.94 euros), according to a note from Citigroup

The title of the automaker is at the top of the charts of ACC 40, supported by a positive note from Citigroup, which goes from neutral to buy. The broker believes that the U.S. product mix and diversification of Peugeot should be reflected in investors' perception of the title.

LVMH (+0.26% to 115.10 euros)

Sephora, the cosmetics distribution subsidiary of luxury group, said to have strengthened his hand in the round of Corsica in Russia, becoming the majority shareholder in nearly three years after joining the company's capital .

EDF (+0.28% at 26.76 euros)

NPP Bugey in Ain, had to reduce its production by 10-15% in late May and early June due to increased water temperatures of the Rhone, an effect of the heat wave spring.

Eutelsat Communications (-0.13% to 30.61 euros)

San Marino RTV has selected two Eutelsat satellites to broadcast its programs through Italy and Europe as of June 13

EADS (+0.05% at 21.12 euros)

Airbus chief says EADS, parent company of Airbus, would be protected against hostile takeover bids but, to this end, it was not essential that Germany be a shareholder in the group.

Carrefour (0.94%, to 29.45 euros)

The management of the distribution group said Sunday, a day after a protest movement, have made a major effort for employees of Carrefour Market stores in terms of purchasing power.

Philippe Bouvard, who recently celebrated the thirty-fifth year of his cult show "The Big Heads", decided to re-enlist for at least two additional years. Christopher Baldelli, CEO of RTL Radio has renewed his confidence and the host star, 82, has agreed to hold the antenna every day from 16 to 18 hours at least until June 2013.

Centerpiece of the grid of RTL, "The Big Heads" every day brings more than 2 million listeners. For the station, this show is one of the great crossroads of hearing of the day, with the prime time of the morning. She is also a good advertising hub.

A true family

"There's a real family" Big Heads ". We do not laugh a whole two hours throughout the year without creating a real complicity, "explained Philippe Bouvard to the" Media Buzz Orange-Le Figaro, on 31 March.The family of "Big Heads" brings Jacques Maillot, Bernard Mabille, Jean-Jacques Peroni, Pierre and Chantal Bellemare Ladesou. Getting on the air for the first time on 1 April 1977, the program has undergone various developments. At the end of 1999 the management of RTL decided to dismiss Philippe Bouvard this issue to entrust to Christopher Dechavanne. The host of "Big Heads" has responded by passing the competition on Europe 1. Accordingly, the hearing of RTL has suffered a net air hole. Philippe Bouvard was recalled on the radio channel by Axel Duroux in February 2001 to regain control of the "Big Heads".

Moreover, another pillar of the first station in France, Jean-Pierre Foucault, asked the direction his daily show "Good touch" he co-hosts with Cyril Hanouna, goes biweekly rate.This game receives almost two million listeners each morning from 11 h 30-12 h 30.

Cyril Hanouna, the accomplice of Jean-Pierre Foucault, will be assigned to new projects, in addition to "The correct key." In the meantime, he held all summer about the same time slot with the show "RTL vacation" from July 11.

After closing in the green yesterday, the U.S. indexes remained in positive territory all day Tuesday. At closing, the Dow Jones gained 0.60% to 12,760.36 points, the Nasdaq climbed 1.01% to 2871.89 points and the S & P is 0.81% at 1357.16 points.

Greece plays appeasement

The record still Greek focusing attention. The country has tried to ease tensions in global markets by saying he did not discuss additional assistance, denying a news report that suggested a new plan of 60 billion euros.This information has boosted European values ​​that are returned to the rise in the morning before finally on a rebound.

Moreover, higher rates of which the Greek government bond markets, above the prohibitive rate of 15% omen for the time being unable to return to Athens on the market in 2012 as the Greek government and international institutions had originally planned. To borrow from 1.625 billion euros in six months, Greece has the pay rate on Tuesday a 4.88%, up slightly compared to that which it had obtained in the last issue similar bonds on March 8 to 4.75%. The issue has however been more than three times oversubscribed.

On the foreign exchange market, the euro rebounded against the dollar at 1.4403 dollars against 1.4358 late Monday.Oil prices also ended higher at 103.88 dollars, up from $ 1.33 yesterday on the New York Mercantile Exchange (Nymex).

Chinese exports are at record highs

Side indicators, rising import prices slowed in April with the moderation of price increases in oil and food, according to figures released Tuesday by the Labor Department. Prices have generally increased 2.2% last month. This is their seventh consecutive month of increases. They had risen 2.6% in March. However, economists expecting a sharper slowdown with a projected increase of only 1.8%.

In China, Chinese exports in April reached a record $ 155.7 billion, enabling the world's leading exporter of a trade surplus of 11.4 billion dollars, Customs announced Tuesday.A new leaving good prospects for global demand but also tighten the monetary policy of the country.

Microsoft sanctioned

The mergers and acquisitions continue in the technology sector fast payday loan. The software giant Microsoft (-0.62% to 25.67 dollars) announced before the opening of the NYSE acquisition of Skype for $ 8.5 billion, including debt, confirming a report published a little earlier in the Wall Street Journal.It takes all to Google and Facebook.

For its part, Google (0.93% to 542.66 dollars) will launch a new online music service Tuesday, modeled on that of Amazon, reports the Wall Street Journal citing people familiar with the matter.

Still according to the Wall Street Journal, the U.S. oil giant ExxonMobil (+0.20% to 83.35 dollars) is in talks with Indonesian PT Pertamina, which could buy him for $ 3.5 billion share of 25% in an exploration project in Angola.

The computer group Hewlett-Packard (1.37% to 41.58 dollars) announced Monday after the close of Wall Street, a new architecture designed for networking and Internet requirements, impinging directly on Cisco products.

General Motors (0.61% to 31.58 dollars) announced Tuesday it would invest two billion dollars in 17 plants in the United States, which should allow it to create or maintain 4,000 jobs.

Also note Activision Blizzard (+0.69% to 11.61 dollars) has reported earnings per share in the first quarter of $ 0.13 against $ 0.08 and an expected turnover of 755 million against $ 663 million expected. For the full year, the videogame company expects a turnover of 3.95 billion dollars against 3.9 billion previously.

Fluor Corp. (+0.50% to 72.58 dollars) has announced new contracts in the first quarter of 2011 amounting to $ 3 billion in Australia with BHP Billiton to develop the mine Jimblebar.

Also note, the specialist Freescale Semiconductor, Motorola's split in 2004, provides for an IPO.The company would raise more than $ 1 billion. The company has retained an indicative price range of 22 to 24 dollars per share according to a document filed with the SEC. The funds raised will be used to repay debt. The day before, the Internet social network LinkedIn has published the documents for its IPO.

Produce simpler, faster, more modular and more economical. This is the challenge of competitiveness plan Nexter (formerly Giat Industrie), dubbed "Le Grand Large" and launched in early 2011. The French specialist of land armaments is a rapid reduction of its production costs by 25%. "It's within reach," says Philippe Burtin, CEO of French company, 100% public.

To this end, Nexter launched by the end of 2010, several sites to review the cost structure of all products in its range. The objective is to identify new products to develop or redevelop to create families of products. This roadmap should be ready in October and developments undertaken in the wake so that Nexter can offer them in 2012-2013."We must lower the cost to be in position to surrender a portion of that gain to our clients," insists Philippe Burtin.

It's a snap to Nexter. It all starts at the upstream, while the definition of a product incorporating not only the acquisition cost of equipment but also the cost of ownership and maintenance throughout its lifetime is between twenty and twenty-five years or more. From the beginning, think modular product. "The car has already done, we must also adopt it instead of developing a product that responds only to national requirements," says CEO Nexter. He cited the example of fully developed large 4×4 Aravis on equity that is currently operating in Afghanistan.The Aravis has a protection level 4, the higher it is protected against the blast of IEDs (homemade mines often hidden by the roadside), mines and ballistic missile "but by changing the cell of the 4×4 The rear module, the overprotection … we can move the Aravis with protection level 3 if the customer wants, "Philippe Burtin develops. The general idea is to deploy a range with several versions of the same material.

The price drop is the "Made in France"

This is a crucial objective for the group. At the same time to ensure its survival in a world where competition has multiplied with the arrival of Chinese rivals, Turkish or Korean with basic material but well made and competitively priced business card templates.

French knows the material to be noticed: After seeing him in action on the ground in Afghanistan, NATO is interested in Caesar, a 55 mm cannon mounted on a frame (or Renault Trucks Unimog) capable of firing in stock agile and quick in its application battery. "We have no problem accessing the market," says Philippe Burtin. But the price is dropping the "Made in France": In the case of Caesar, China offers its SH1, near a heavier (22 tons against 18 tons for the Caesar) but 50% cheaper!

In Europe, Nexter also lost contracts. In 2010, missed a command in Sweden has created a shock. "We came second behind Patriat both support that performance through a tender clear and structured Nexter but was not well placed in terms of price, there was a big gap," admits CEO.The armored infantry combat (VBCI) Nexter has lost.

Produce faster, simpler and cheaper

Nexter must also become more competitive on its own soil. The Chief of Defence Staff (CLS) is to remind the industry but also to the Directorate General of Armaments (DGA) which notifies the contracts: it must produce faster, cheaper and less sophisticated . In the context of Scorpius, the vast plan for modernizing the Army, France must start late 2011 a international tender to replace its fleet of armored vehicles from the front (VAV), a market of over 2000 gear. Nexter will respond with its new VBMR (Multi-Role Armoured Vehicle).But the CLS has warned the price should not exceed one million euro armor and operating cost is also framed.

Besides this lack of competitiveness he wants to absorb faster, Nexter believes he has nothing to be ashamed of its economic performance. At the head of a backlog of two and half years of activity of almost 3 billion euros, the Group generated an operating margin of 12.5% in 2010 from a turnover just over 1 billion euros.

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