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Effect "back to earth." The French statistical institute (INSEE) on Thursday published a study that analyzes the household income for the period 2002 -2007. It reveals that the income of rural residents of metropolitan France grew faster than those cities. If one third of the wealthiest households are concentrated on the Ile-de-France, INSEE observed a phenomenon of rebalancing.

Thus in the Ile-de-France and Alsace two richest regions – the median income (note: half the French paid a higher salary, the other a lower income) increased 12% between 2002 and 2007 against 16% average for the whole territory. In Corsica, however, where incomes are lower, median income has jumped 23%.

Migration and the baby-boom

According to INSEE, this phenomenon can be explained by the arrival of wealthier households in small towns.These include urban assets fleeing big cities and their tax burden. But the statistician also highlights a second phenomenon: the impact of an aging population. Between 2002 and 2007, "the number of households 60 years and over grew twice as fast as the total number of households. Meanwhile, the incomes of 60 years and over are rising twice as fast as inflation, "said INSEE. Very active in the campaigns, the generation of baby-boom contributes to rural incomes make up, and therefore the balance of the territory.

Persistent inequalities

But all regions of France have not benefited from this drive. Some economically unattractive or very remote from urban centers remained behind. This is particularly true of the central districts of Britain or mountainous regions.Nord Pas-de-Calais and Champagne-Ardenne also concentrate the lowest incomes.

In these regions, it is mostly young families who are experiencing difficult situations. For the latest revelation of the study reveals that the digging of a generational gap. Across the country, the median income of the less rich than 30 years has increased by 16-20% while that of younger declined by 1.6%.

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The U.S. stock market was hesitant on Monday. The major indices started in the green, but very clear: the Dow is 0.12% at 10,438 points, the Standard & Poor's 500 and Nasdaq 100 earn them, respectively 0.1% to 1104 points and 0.13 % to 2269 points.

On Friday, the NYSE has ended sharply higher, buoyed by another round of quarterly results from U.S. companies of good quality and were reassured on the results of resistance testing in European banks. The Dow Jones gained 0.99% and the Nasdaq 1.05%. On the whole last week, the Dow Jones gained 3.23% and the Nasdaq rose 4.15%.

On the foreign exchange market, the euro against the dollar adds.At the opening of U.S. markets, it was worth 1.2944 dollars against 1.2906 dollars on Friday night.

Oil prices retreated Monday in the opening exchanges in New York, yielding 86 cents a barrel to 78.12 dollars, while Tropical Storm Bonnie was eventually spared oil facilities in the Gulf of Mexico.

Busy Week Statistics

A busy week on the macroeconomic level. Today sales of new houses in the U.S. rebounded more than expected in June, from 23.6% in May after hitting their lowest level since 1963 at least, but still extremely low, according to figures Official published Monday in Washington.

Another highlight, 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.

On Tuesday, it is the Standard & Poor's / Case Schiller home prices and consumer confidence, which will be followed, before investors only look the next day on orders of durable goods. But it was the day Friday with the first estimate of gross domestic product (GDP) U.S. second quarter is expected this week.This new burst of publications should be followed especially when investors are questioning again on the strength of the U.S. economic recovery.

Publications wait

U.S. companies are still likely to take stock in their accounts this week, including the program six companies forming part of Dow Jones. Tomorrow investors expect such figures CIT and Lockheed Martin and those sitting in the middle of DuPont.

To follow today the title of BP traded on Wall Street. The British press refers to a departure from the CEO of BP, before tomorrow, the date of publication of interim results of the oil giant.

IBM: The European Commission has opened two investigations into the group.It suspects the group of computer abuse of dominant position on the markets for servers.

Always on the side of values, General Electric said Friday its increased dividend of 20%, the quarterly dividend from 10 cents to 12 cents. GE also announced a resumption of its share repurchase programs. He had stopped this practice in September 2008. The board gave its approval for an additional $ 11.6 billion. "GE hopes to finish the year with $ 25 billion in cash, including proceeds from the sale of a majority stake in its subsidiary NBC Universal to Comcast" say the analysts at Aurel BGC.Some of this money will be used to buy three billion dollars in preferred shares that the group has sold to the holding company Berkshire Hathaway of Warren Buffett in October 2008.

Also note Friday night, the FDIC, the federal agency whose primary responsibility is to guarantee bank deposits, announced the bankruptcy of six new American banks, bringing to 102 the number of closing establishments since the beginning of year. These six failures will cost about 394 million dollars to its compensation fund the FDIC.

FedEx climbed 4.25% to 82.32 dollars while the group has raised its earnings forecast for the current year. The U.S. giant now aims Messaging earnings per share of between 1.05 and $ 1.25.

Genzyme flies from 5.45% to 65.93 dollars. The group would be the target of several pharmaceutical companies.Sanofi-aventis is about to blow.

The stock performance does not lie. Since the beginning of the year, the Euronext Building & Construction fell 18%. Values that balance the index are battered stock market. Wednesday again, the index meant the worst performing sector in Europe. The Irish manufacturer CRH, which warned on its sales in 2010, lost nearly 9% while the French Lafarge realized the worst performance of the ACC. It also loses 28.95% since January 1. Over the same period, Saint Gobain coward 17.15%, while 11.24% abandons Vinci.

The Irish group has yet taken a cold snap in stating that its sales in 2010 would be affected more severely than expected by the consequences of fiscal consolidation in the euro area and slowing the pace of recovery in USA.

The news did not surprise analysts."The fiscal crisis has not improved the situation of the sector because governments are pushing the major works to reduce the growing deficit," said Harry Sebag, an analyst at Saxo Bank. The financial crisis has also hit the industry particularly since the latter is highly dependent on the banks with which it finances a large majority of buildings.

The figures for real estate in the U.S. are also very revealing. In June, there were only 300,000 new home sales on a new year while the consensus was expecting about 424,000 sales.

Outlook not reassuring

For the future, the industry should be very cautious. "We are in a context of sluggish growth and unemployment prevails with a high public and private debt.Certainly the infrastructure programs of national recovery plans may lead us to believe a recovery in the sector, however, this growth drivers must be qualified with the recently introduced austerity policies, "said Harry Sebag. For example, France had planned to inject four billion euros in the construction sector in 2009. But only 2.5 billion have been invested and a slowdown in public works is possible for the remaining 1.5 billion.

"Businesses have already significantly impacted margins and cut prices to gain market share over the weaker euro and higher commodity prices, driven by demand from emerging economies, clouding the outlook for the sector , "says the analyst.

There is no question of a collapse."The activity is still declining, but remained stable for the rest of the year is possible if the growth recovery by 2011," warns Harry Sebag.

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The house prices in France rose 8.48% in one year, between the first halves of 2009 and 2010, approaching the record before the 2008 crisis, according to Century 21, a leading network of real estate agencies .

"We are very concerned about the sharp rise in prices because of the risk of blocking sales volumes because we are at the upper limit of what buyers can pay," said Laurent Vimont, president of Century 21 (850 agencies), at a press conference.

The average price amounted to EUR 2,508 per m2 in the first half of 2010, an increase of 8.48% over the first six months of 2009, very close (-1.6%) the record first half 2008 before the housing crisis that followed the subprime U.S..

For the full year 2010, Century 21 provides for a price increase of 6% of existing housing compared to 2009.

In Paris, after a price hike of nearly 15% in one year, slightly more than 10% over the last six months, even beating the record with an average price of 7079 euros per m2, or 5.4 % increase over the first half of 2008.

This surge in prices in the capital, due to the demands of higher socio-professional and retired, does not affect sales volumes which recorded a 11.3% increase over one year.

Brussels puts its nose in one of the most sensational divorces industrial center stage in Europe: Barroso Commission on Wednesday announced the launch of an accelerated procedure against the French Areva and German Siemens for infringement of competition law. This decision confirms the information published as early as Tuesday evening by Le Figaro.

In this case, it is the folder Areva NP, the ex-Framatome, owned 35% by Siemens and 65% by Areva. The German group announced in early 2008 its decision to exit the venture, after several years of fruitful cooperation.

Areva has taken note of this decision but said that Siemens was unable to compete with it for several years because of an agreement signed between both parties. And it is this clause that Siemens is trying to quash the Commission.A clause also crucial for the French group that tries to turn the cash in order to lower the purchase price of 35%.

Addressing what looks like a cartel, while the separation between the two European giants of nuclear consumed is therefore paradoxical only in appearance. Siemens, unable to compete with its former French partner by one of the clauses of the marriage contract of 2001, seeks in effect to part of a last thread to the leg. Moreover, the German group discreetly that he looks forward to the debut of the Commission.

The shareholders agreement signed in honeymoon Franco-German, January 30, 2001, has never been made public.The clause that is now the competition commissioner, Joaquin Almunia, evoked precisely the scenario of a separation for at least eight years after the divorce, it prohibits Siemens rival Areva to come on the market for nuclear reactors, according to one of the parties in conflict.

Partnership with Rosatom

The decision by Joaquin Almunia opens investigation against "violations" of sections 101 and 102 of the Treaty of Lisbon by Areva SA, Siemens AG and their subsidiary Areva NP. The procedure "does not mean that there are strict proof" of infringement of competition law, but simply that the case will be handled on a priority basis, according to the draft obtained by Le Figaro.

The non-competition, held by Areva and Siemens today denounced, no objection was raised in 2001 during the passage of the shareholders before the European authorities.Has it been so deliberately ignored? Or added a posteriori? In any case, it returns to haunt the two partners.

And because it prohibits the German group to realize its nuclear partnership with the Russian company Rosatom. Siemens announced March 3 – with the blessing of Vladimir Putin – the signing of a Memorandum of Understanding for a joint venture with the public group. It is developing the technology Russian pressurized water reactors. This alliance has created a noisy side reaction of Areva, which has denounced "a unilateral breach of contractual obligations" by the German group.

Beyond the bitterness born of a failed marriage, is a cut-throat competition looming on one of the most lucrative markets for decades to come: that of civilian nuclear reactors, each of the two firms in tens of units.Unless he can get Brussels to outright cancellation of the disputed clause, Siemens would like to see at least his initial handicap reduced by several years.

That complex is more of a rebound near. While Siemens sentence actually formalized its alliance with Rosatom – the German press has recently indicated that there would be no breakthrough until 2011 – and rumors have circulated about a possible return behind the German group. So a partnership with Areva reactivated.But recent developments in Brussels show that this scheme will be hard to reappear.

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More than 2 billion euros

How is the participation of Siemens in Areva NP? Estimates are circulating that the French group will put on the table between two billion and 2.5 billion euros. To agree on the amount of the transaction, both groups have appointed an independent expert. No timetable has been set officially, but the findings should be made before the end of 2010. Meanwhile, Areva has singularly need to restore its financial leeway.

For the period 2008-2012, Miss nuclear group has estimated its investment needs about 6.5 billion euros.While a capital increase is planned – up to 15%, through three foreign partners – but the government delayed giving the green light.

Wednesday, April 14 at Nantes, a stone's throw from the airport by a cool sunny morning. Representatives of airlines, the future Airbus A350 XWB (extra wide body) were invited by Didier Evrard, program director for a route point. The program includes site visits and workshop "composite" which have already left the four panels of carbon fiber for the first aircraft and MSN 1 MSN 2, the five who will participate in test flights from 2012 .

Since the program started in 2007, Didier Evrard regularly inform the 33 airlines that have ordered 530 copies of the long-haul new generation. No way to disappoint after repeated delays of the superjumbo A380.

30% to 35% of the activity term

Nantes Why? Because that's where it all begins lorsqu'Airbus manufactures aircraft.Ironically, the site where you never see it because the factory is specialized in large parts, called simple. Once assembled, they form the center wing box, also called "section 21" which will set the wings and the beam waist, the keel beam that runs throughout. These two major structural elements bear the expenses of the aircraft and the aerodynamic forces.

Nantes, with its 2,000 employees, is also one of three centers of excellence composite aircraft manufacturer with Stade in Germany and Illescas in Spain. It was here that made the first piece of carbon fiber series December 4, 2009. It is also here that are developed – in conjunction with teams from Technocampus, integrated industrial site – prototypes capable of "dress" the applicant signs the "carbon fiber plies.The A 350 count 53% composite materials, and even 80% off systems, against 45% for the 380. "The composite can not only divide the weight by three parts but also reduces noise by 30% leaving the engine through a composite panel made from a single block. A unique expertise in the world, "said Michel Plantard, head of production.

In Nantes, which works upstream – 1.5 to 2 years – the final assembly as in all European plants of the manufacturer, the countdown has begun. "The timetable is tight. We must deliver the first caisson in Saint-Nazaire in the first quarter 2011 so that the Toulouse final assembly begins in the third quarter of 2011 and the first customer to be delivered mid-2013, "says Jean-Claude Schoepf, director of Nantes site.In Saint-Nazaire, the section 21 will be assembled in section 15, the composite central pavilion, a room of 32 meters long, whose manufacture has been outsourced and entrusted to the American Spirit, while the German factory in Hamburg deliver elements of the fuselage.

Once kitting is complete, the device will be assembled in Toulouse in a brand new warehouse to be delivered in September. "The issue is important because the A350 is expected to represent 30% to 35% of activity for both Airbus and our website, where just under 500 million euros have been invested for the A 350, "insists Jean-Claude Schoepf.

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And if EADS came back in the race for tanker aircraft? The Pentagon expressed willingness Thursday to extend the tender for its tanker aircraft, while its recent withdrawal had caused anger in Paris and Berlin against Washington.

"The Defense Department has received notification from EADS North America showing its possible desire to contribute to the replenishment of the Air Force and U.S. we would support," said Geoff Morrell.

He added: "If necessary, we may reasonably consider extending the closing date of tender, currently set for mid-May, which" would not be unusual, "he said.

Louis Welsh, head of EADS, stated, however, at a press conference in New York, that such an initiative would require the postponement of the deadline for response to the call for tenders for the currently scheduled for May 12But he says it is "impossible" for his group to submit to the Air Force bid for U.S. tanker aircraft in 60 days, however, leaving the door open to any proposal flexcheck cash advance! ???!!!???!!!.

He said EADS had not taken any decision on a possible new bid for the contract, while Boeing is currently the only candidate. He also said that EADS had not sought another partner or been contacted by other groups to raise its offer.

A tender twice canceled

EADS and its U.S. partner Northrop Grumman withdrew from the bidding of the Pentagon, arguing that the terms of that favored Boeing.

The tender to supply 179 tanker aircraft to the U.S. Army, valued at 35 billion dollars, was awarded a first for Boeing in 2003, then again at Airbus (EADS) and its American ally Northrop Grumman in 2008, and each time canceled.

Exports of French cheeses have dried up in 2009, according to French customs. In value exports fell 4.8% to 2.5 billion euros as in volume, with a decline of 1.7% to 591,121 tonnes. Exports represent 30% of French production.

The price of milk in question

The primary cause of this decline is the price of milk. Highest average of 15% in France compared to Germany and 9.5% from the Netherlands. Germany is Europe's largest exporter of cheese in front of France since 2003 in volume and value since 2006.

This drop increases with the cheeses using milk as much of the Emmental. Its exports fell 10% in 2009 and processed cheese, like Saint-Moret or Laughing Cow, requiring a lot of milk, they decreased by 13.5%.These high prices are crises repetitions of French dairy farmers, worried about the fall of their income.

For other reasons, Gruy?re is also in a delicate situation. The European Commission may not give the French Gruyere the protected designation of origin (PDO), leaving the field open to Swiss Gruyere . The decision will be made in a few months.

Prospects in the U.S.

However, signs of recovery in the high end is particularly noticeable in the U.S. market, the first destination of French cheeses outside the European Union ahead of Switzerland and Japan. Arnaud Gauthier, cheese and creator of Frenchcheese club, said that "the U.S. market is a huge potential."He created a club offering premium products and to penetrate different markets in terms of complicated legislation. Example: the tripling of tariffs on Roquefort cheese in January 2009.

French cheesemakers are two sides to the Paris Bourse. Bel Cheese (The Laughing Cow, Boursin, Babybel …) and Bongrain (Caprice gods, Coeur de Lion, Tartar …). At the opening of trading on Friday, as the Cheese Fair was up 2.38% to 129 euros and that of Bongrain at equilibrium (0.06%) to 54.55 euros.

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In 2009, net income of Amazon rose 40% to $ 902 million or $ 2.04 per share. The U.S. Internet provider has presented these figures Thursday after the close of Wall Street, at the same time it announced its net profit for the fourth quarter, which soared 71% over the same period a year earlier, and rising to $ 384 million, or $ 0.85 per share.

During the last three months of 2009, marked by the holiday shopping season, Amazon's sales jumped 42%. Its turnover in the fourth quarter then reached $ 9.52 billion, which is better than expected. Due to a favorable currency effect, sales in the fourth quarter rose more rapidly in international markets (ie markets UK, French, German, Japanese and Chinese, which together grew by 49%) on the northern markets American (36%).But the two geographical areas show a growth rate similar sales since the currency effect is offset, and equivalent volumes.

This dynamic sales at year-end allows Amazon to total $ 24.51 billion worth of sales throughout the year, or 28% more than in 2008 low fee payday loans .

The group attributes this performance to the success of its electronic book reader, the Kindle, released in a hundred countries. "Millions of people now have the Kindle, and those who have a Kindle read a lot. When we have two editions (print and digital), six editions we sell Kindle books for 10 paper, "said Jeff Bezos, founder and CEO of Amazon.

On its forecast for first quarter 2010, Amazon is planning a sales growth of about 32 to 43%.Its quarterly revenue could be up to 7 billion dollars. Over the period, operating profit could rise by 13% to 50%, Amazon said.

The group finally warned that its Board of Directors has endorsed a program of share repurchases by the group, amounting to 2 billion dollars.

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A shock exceptional in its scope but not its duration. Coface, which examines the risks of outstanding companies, announced Monday at a symposium on the country risk, the end of the credit crisis. While recalling the unprecedented nature of this recession, the worst post-war related to the bankruptcy of Lehman. Between its 2007 peak and the lowest point in 2009, the global economy fell by 6.1 points, two times the oil crisis of the 1980s or the collapse of the dotcom bubble.

"There is a strong correlation between the curve of defaults and that of economic growth, said President Francois David. For six months we see an improvement in creditworthiness of companies. "After rising 19% in the first half of 2009, the total payment incidents has decreased by 40% over the last six months.With this improvement, Coface has revised upwards its ratings, while it had conducted several waves of decommissioning throughout the crisis. Note that unlike traditional agencies, which follow the sovereign debt, the insurance company is only interested in credit risk business. The improvement is true for most industrialized countries. The A2 rating of the United States is no longer under negative watch while France, Germany and Japan, in particular, came under positive watch.

Household debt

But if the bulk of the storm passed, many clouds darken the sky of the recovery. It is primarily the weakness of private demand, which remains constrained by the debt ratio and savings rates, and deterioration of the labor market."The key to growth lies in the particular behavior of the American consumer, accounting for 18% of global GDP," notes Francois David.

Another black spot, the rate of industrial capacity utilization remains limited, especially slowing business investment. "The recovery in 2010 will depend even public spending," says the chief economist at Coface, Yves Zlotowski. With the risk of digging a little more deficits. The situation is particularly alarming for the "pigs" – Portugal, Ireland, Greece and Spain – where the debt has increased the most between 2007 and 2011. "The markets could force them to implement budget cuts, which contribute more to the recession," said Yves Zlotowski. The economist is also concerned about overheating in China and the rebound of stock markets, including commodities, stronger and faster than the real economy.Coface expects global growth in 2010 of 2.7%, driven by emerging markets (5.3%) against 1.4% for developed countries.