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The General Assembly of shareholders of Parmalat, 12 April looks tense. While the rise in the dairy group Lactalis trans caused a stir in Italy, the company headed by Emmanuel Besnier announcement having captured 29% stake in Parmalat.

Holding 11.42% last week and 13.67% on Monday, Lactalis has indeed reached an agreement with three foreign investment funds Zenit Asset Management AB, Skagen AS and Mackenzie Financial Corporation to redeem their participation by 15.3% . According to the Italian press, the three shareholders would be fiercely opposed to the current chairman, Enrico Bondi, he intends to land.

Anyway, Lactalis is more than ever the majority shareholder of Parmalat.And although the group Laval did not intend to hold more than 30% of Parmalat, which would have to launch a takeover bid in the Italian securities laws, this absolutely does not like the Italian government and in particular Economy Minister Giulio Tremonti. The latter intends to take measures to defend domestic firms when they are considered "strategic."

Italy wants to counter Lactalis

To block the road to Lactalis and funds, the Italian government said "very favorable" to an alliance of investors across the country.Intesa-San Paolo could be the pivot while the dairy group Granarolo and giant chocolate Ferrero (Nutella, Kinder) have expressed their interest.

After that LVMH has offered the jeweler Bulgari and EDF talks with Italian Edison shareholders to reach agreement on the control of Edison electrician, Italy could see another national treasure in the hands of French companies . Not to mention that Groupama would take a share of the holding Premafin and that the airline Alitalia is 25% owned by Air France KLM since 2009.

In this context, France's ambassador to Italy, Jean-Marc de La Sabliere, was received on Thursday by Minister of Economy Giulio Tremonti and Deputy Secretary of the Presidency Gianni Letta, the right-hand Silvio Berlusconi, to be informed of the position of Rome who wants the "rules of reciprocity."

Sunday called the "Grand Jury RTL-Le Figaro-LCI" Francois Chereque retracted the false espionage Renault. "Management has shown a lot of levity," accused the secretary general of the CFDT. Francois Chereque not asking for much the departure of CEO of the automaker, "not to further destabilize the company." Words also used by Eric Besson, Minister of Industry, who spoke to him on TV5.

Nevertheless. For Francis Chereque, "the credibility of Carlos Ghosn is initiated." The union leader considers "normal" Renault boss waives its variable portion 2010, he was able to build up "thanks to U.S. support to the automotive sector during the crisis and job losses occurred in the business" .According to the leader of the CFDT, which defends the central one of three executives dismissed, it would have been "immoral" that Carlos Ghosn keeps these bonuses.

The three themes of the presidential

Asked about the aftermath of the Japanese drama, Francois Chereque recalled that "the CFDT has always denied any nuclear policy." He considers "useful" than a debate in France is established. "There is no power that is satisfactory in itself," he acknowledged, calling to reflect "patterns of production less dangerous pay day loan lenders."

In terms of youth employment, Francois Chereque said he was "favorable" to the development of learning wanted by the government. Although he would have preferred that the branches are forced to take quantified.Without giving the response of the CFDT employers draft agreement on supplementary pensions after (our Saturday editions), he found the text "fairly balanced".

Entryism on the FN in the unions, Francois Chereque recalled that "the combination of a political mandate and union was banned to the CFDT. But anyway, the values ​​of the party of Marine Le Pen was not in line with those of syndicalism. "I do not see how any unionist could defend national preference in a business," he judged.

Francois Chereque began his speech by welcoming the role played by France in response to Libya.He concluded by listing the three issues that he believes should be at the heart of the future president: the elements of competitiveness (investment, research, jobs of tomorrow …), the reduction of inequalities (including tax and pension) and discomfort at work. "It's not normal that the French no longer wanted to work," he firmly told.

Airbus is closely monitoring the developments in Japan. The European aircraft manufacturer employs 25 people locally, including 5 expatriates employed in support functions to customer airlines. Airbus has decided to move its expatriates in the south, while 20 Japanese installed at the headquarters in Tokyo were invited to stay home this week. "We have a team that is studying the situation in real time and the decisions of the Japanese government. Our priority is our employees, "said a spokeswoman for Airbus. C hez same speech that Boeing has allocated 2 million dollars to help the Japanese. The U.S. giant has – for now – not decided to withdraw its 200 employees. "We work with our partners and customers to see what assistance we could provide," said a spokesman. He added: "We remain in constant contact with all our employees."

Airbus currently refuses to talk about any economic impact because of the seriousness of the situation. Commercial presence is modest. F the monkfish Airbus A320 in service with 5 StartFlyer, 18 A300 and 29 at Japan Airlines All Nippon Airlines A320 at. Recently, Boeing has signed two contracts with Skymark for 4 A380s and with A & M Aviation, a subsidiary of ANA, for 10 A320s. Nothing comparable to the ultra dominance of Boeing, which controls 98% of the Japanese market and has forged a partnership with the country strategically in the aftermath of World War II.

On the industrial side, again the two groups are not in the same position. Airbus has gradually built Japanese subcontractors in its worldwide network of suppliers. Today, 12 of them work for the A320, 15 for A ranges 330-340 and 20 for the A380.For its part, Boeing has made the Japanese aviation industry a leading partner that shares the financial risks and technological programs. Mitsubishi Heavy, Kawasaki Heavy and Fuji Heavy provide 15% of the 767 fuselage components, 20% and 35% B777 B787 Dreamliner.

For now, Boeing has not suspended any of its business in Japan and, according to preliminary reports sent to industry partners Boeing, their factories south and south central (Nagoya, Kobe particular) have not suffered so significant earthquake.

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Jacob Wood, born in Shanghai 60 years ago, built a small industrial empire in Nigeria fast payday loan. Step by step, China is expanding its grip on Africa. (Paolo Woods)

After three consecutive weeks, the CAC 40, which closed last Friday above the 4000 points (4017.45 points exactly), ended on an uptick, Monday. The CAC 40 gained 0.39% to 4033.21 points.

At the London Stock Exchange, the FTSE-100 rose 0.81% to 5943.85 points, the Frankfurt Stock Exchange, the Dax ended with a small increase from 0.08% to 7067.77 points.

Investors have played the card of caution for several major economic appointment.They expect including tomorrow's meeting of the Monetary Policy Committee of the U.S. Federal Reserve (Fed) and the speech of U.S. President Barack Obama on the State of the Union.

On Monday, President Nicolas Sarkozy at the Elysee gave the kickoff of a year 2011 marked under the seal of the international retailer, to reporters and foreign ambassadors in Paris (live webcast Facebook and Dailymotion), his goals for the G8 summit in late May at Deauville and the G20 early November Cannes.Le head of state has sought to draw the conclusion imbalances afflicting the international economic system. In this context, the G20 "shall be effective if it is to remain legitimate."

Markit index up

PMI Flash (Markit) reflects the overall expansion of activity since the French resort activity to 56.9 points, higher for four months.The composite index of purchasing managers (PMI) in the euro area will be known 10 hours and new orders in industry in November 2010 at 11:00, still in the eurozone.

Renault out of the wood

As for values, ArcelorMittal suffered profit taking (-1.10%). Steelmakers produced 1.4 billion tons of steel in 2010 (+15%). Growth welcomed but fears of overcapacity in 2011. Schneider is also subject to profit taking (-1.68% to 111.20 euros), while Saint Gobain (2.68% to 42.71 euros) is leading the CAC 40 increased by a favorable rating analysts UBS.

Renault (0.57% to 47.32 euros) evidence "multiple" on the case of industrial espionage which are believed to three frames of the group, said Sunday the group's CEO, Carlos Ghosn.Earlier in the day, counsel for one of three executives covered by the suspicions had called Renault CEO Carlos Ghosn to provide proof of charges that founded the lawsuit from the manufacturer fast cash without a hassle.

Automotive side, Toyota is the world leader in 2010, despite repeated reminders of vehicles.

Danone gained 0.33% to 44.96 euros. According to La Tribune, Danone Dumex interested in India, a manufacturer of baby foods. A nugget in its sector: Dumex is number one in China and India.

Sanofi-Aventis: 0.22% to 50.98 euros

Also down, Sanofi-Aventis after the announcement of the extension on Monday its takeover offer for Genzyme, always the same price of 69 dollars per share, or $ 18.5 billion in total, until 15 February."While these discussions have continued and have included sales teams and executives from both Sanofi-Aventis and Genzyme, significant differences remain regarding the CVC (certificate of conditional value) and the potential value of the offer Sanofi-Aventis, and there is no guarantee that parties will reach agreement, however, warns Sanofi.

France Telecom: 0.81% to € 16.26

France Telecom, however, slightly ahead slightly by 0.84%. Orange, a subsidiary de'opérateur negotiated the acquisition of part of investors to share the platform for sharing videos Dailymotion, valued at approximately EUR 150 million.

Sopra: 5.86% to 66.98 euros

Sopra earns 2.3% after announcing it relaunched its proposed listing of its subsidiary Axway Software, which will occur in the second quarter. This project was suspended last September 20.

Note also that Nicolas Sarkozy will announce on Tuesday a call for projects on five coastal sites for an investment of 10 billion euros. French and foreign manufacturers are mobilized for this competition.

EADS: 0.74% to 20.54 euros

The helicopter manufacturer Eurocopter, a subsidiary of European aerospace group EADS, expects to deliver fewer planes this year, but its turnover is expected to remain at least stable and orders stagnate, said Monday its CEO Lutz Bertling. Sodexo holds its general meeting at 16.30.

For the second consecutive day, the mobilization continued Saturday in the French ports. In Fos, freight traffic was disrupted at the level of 80-90%, according to Serge COUTOUR, head of the CGT Dockers Gulf. In Marseille East, freight traffic was paralyzed at 100% for containers, according to Daniel Manca, general secretary of CGT Dockers port, which advises cruise passengers to "avoid Marseille. At Havre, the second French port, the movement also continued, including blocking container terminals. Finally, Nantes / Saint-Nazaire, 7 boats were stranded at the dock and 12 offshore.

Far from weakening, the movement should be required to continue at least until Monday included, the day new general meetings must be held.The CGT called in any case employees to continue the blockades.

Early departures

The strikers are mobilizing to defend their right to retire early in retirement under the hardship. CGT ports and docks wants to validate an agreement on the recognition of the harshness found in late October with employers' organizations, which would allow retirement four to five years before the legal age for port workers 5-6000 with funding based on the branch but also from public funds.

For its part, the government calls for a resumption of negotiations "within the framework defined by the Act of November 2010 on pension reform, which would reduce to two years in advance of departures.Thus, fewer people would be affected.

For Jeremy Julian, Deputy Secretary General of the CGT dock in Le Havre, it is "incredible back on virtually everything that was granted." Serge COUTOUR warns: "The mobilization is still to go. We try to drown us in the case of pensions, while our case was completely offline for two years. "

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All observers are on the lookout: store traffic will she go in to this Wednesday, the first day of sales? As tradition dictates, the economy minister, Christine Lagarde and Secretary of State for Trade Frédéric Lefebvre, gave the kickoff event this morning at 8 am, flying in large Parisian department stores, first in the Galeries Lafayette and Printemps. They should be emulated by 300,000 visitors this Wednesday at Galeries Lafayette, and 150,000 visitors are expected through the doors of Spring. More generally, 85% of French people intend to participate in sales that begin today for five weeks, according to an Ipsos survey conducted for the National Council of Shopping Centers (CNCC).BVA about 67%, reflecting but also a real craze.

And for good reason, Frédéric Lefebvre believes that the balances are "now a budgetary necessity for millions of French. All the French out of the crisis. Moreover, the snowfall creates a very high expectation. "

The 2011 winter sales will be in effect all the more important that sales have been hampered by snow during the holidays, as well as deliveries, which helped to increase trade inventories. However, stocks are an important input in the dynamic balances.

Incentive scheme

And on the merchants, especially those of clothing, the stakes are also high: the turnover on the first day of the discount period is one of the most important year for large signs.Printemps Haussmann, for example, has traditionally run in the first day of sales in the amount of daily sales record. Until the end balances, set this year to 15 February, the business generated is the second largest after that of holiday season.

Everything is implemented to encourage the French to consume. It must be said that consumption is particularly bleak in France instant payday loans. In December, households' opinion on the economic situation worsened by 3 points, according to Insee. To mark the kick-off balances Christine Lagarde has justified maintaining the floating balances to boost consumption throughout the year.

For its part, the association "by Paris Shopping", with the support of the City of Paris, is mobilizing to encourage fashionistas to go to stores by offering shopping itineraries and walking free on board electric tricycles . The operation, launched in 2007, also aims to attract international tourists in the capital, month traditionally low for hotels.

The French plan to spend 219 euros in stores

On average, these followers of balances to spend 219 euros considering their purchases in stores, according to the BVA poll. If the intentions of the French materialize, the numbers will increase over the last markdown when the French spent an average of 199 euros.

The online trade is also affected by this downbeat trading.Two out of three Internet users are about to do because the sales on the Internet, according to the survey by Fevad Federation (e-commerce and distance selling) and Directpanel Research. On average, users were expected to spend 180 euros for their purchases on sale on the Internet.

It must be said that significant discounts are becoming the norm even in this first day of sales. In shops, the awards should be 20% to 70% and online sales, lower prices could reach 90%. And discounts should go crescendo until February 15, the day end balances. Until then, Happy shopping!

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Covered with snow after the storm that hit on Sunday evening on the northeast coast of the United States, Wall Street, should open slightly lower on Monday, while the new rate hike Chinese, reached this weekend end, invites investors to a certain caution. Shortly before the opening of U.S. stock markets, index futures strandard & Poor's 500 and Nasdaq 100 respectively and retreated 0.25% to 1249.9 points and 0.06% at 2229.25 points. The Dow Jones was approached for its share declined from 0.22% to 11,497 points.

No statistics on the agenda macroeconomic Monday, which should encourage investors to focus on the surprise hike in interest rates in China and, therefore, to mope. In fact, in principle, the operators do not respond well to a rise in interest rates.A reaction of defiance that could also be temporarily increased, during this holiday season digs. Indeed, low volume and volatility room can promote excessive reactions. Difficult to know whether, in this context, the few active investors will pay attention to news companies. Remains that 2010 has been a great year bone pourWall Street.

Viacom sells Harmonix and action is supported by Cisco Barron's

Despite the snow, wind and cold stores that had reopened Sunday after the closure of Christmas never empty, to the delight of retailers. However, cancellations of flights and trains, especially from Europe, have multiplied over the weekend. Many flights of British Airways and Virgin Atlantic, canceled Sunday were rescheduled for Monday no credit check payday loans.Air Canada for its part warned that many flights might be canceled or delayed in the Atlantic regions of the country.

Viacom should also be enclosed. Indeed, the media giant sold the U.S. studio Harmonix, creator of the licenses of music video games Guitar Hero and Rock Band, Columbus Nova, an investment company. The third quarter of 2010, Harmonix has recorded losses of about $ 300 million against a modest profit over the same period last year. Viacom bought Harmonix in 2006 to 175 million dollars. Harmonix takes note of this decision and looks forward to once again become independent.

As for Cisco Systems, barometer of the technology sector, its action would be undervalued and should increase by at least one-third from current levels, according to Barron's.In its Saturday edition, the U.S. financial weekly said that if Cisco is approaching its long-term growth in sales, and the stock should rise at least at its peak in 2007, $ 27 . Barron's said that investors had factored into the course "too much skepticism about the prospects for Cisco. Action Cisco closed last Thursday to 19.69 dollars.

Finally, the U.S. bank Goldman Sachs has decided to link the payment of his bonus to long term performance "of its executives. Salaries and bonuses could reach a record level on Wall Street for 2010.

The gold on the rise

After a year 2010 under the spotlight, gold should remain the star of 2011. The precious metal, which has chalked up record this year, with one ounce, which exceeded $ 1400, should remain on an upward trend next year. "The growth should continue in coming quarters," says Sylvain Sérandour manager at Federal Finance.

The yellow metal has marked the year 2010 by a steady increase over 25% since January. Fueled by central bank buying, but mostly by concerns surrounding the European sovereign debt and fiat currencies, gold has become the safe haven for investors. Exacerbated this role, which has taken over the rational elements of supply and demand, in the opinion of all observers, one of the most striking phenomenon of 2010.It should also be further driving the rise in 2011: "Central banks will continue to buy. Moreover, it is an investment of choice for emerging markets and demand for ETF should rise further. Although it is difficult to forecast, we can expect an ounce up among the 1,600 dollars, "says Sylvain Serandour.

Macroeconomic announcements, however, could turn against gold. "The sovereign risk should settle down, and we anticipate interest rates rising in late 2011. In an uptrend, gold would fluctuate at the mercy of macroeconomic announcements, "but it warns. Buzaré Frederick, head of equity management at Dexia Asset Managment, is more pessimistic and predicted one ounce in the 1400 dollars next year because of an economy that is accelerating.But "there may be an economic return to normal and then a new wave of fear about Spain or Portugal. It's very volatile, "says he.

Same precautions for Harry Sebag, an analyst at Saxo Bank, which prefers to place his pawns on the money. "In the first three quarters 2010, the money has remained fairly stable at around 18 dollars per ounce while gold fell from 1100 to 1250 dollars. Since we see that money again for the delay and has a nice development that should continue into 2011. This catching up could take place in the coming months with an ounce that can reach $ 50 late 2011 or even $ 100 an ounce within 3 years.

The platinum and palladium in particular, will also be receiving attention. This has been a great year 2010 with effects still visible from the scrapping of the car market, reaching the highest in nine years, winning more than 85% over the year.But this metal will in 2011 to address the projected drop in the automotive sector will no longer receive any government assistance.

A barrel of oil unsurprisingly

For its part, the oil has not marked the spirits, despite a rise to more than $ 90 a barrel by year-end. "The beginning of the year was weak in a context of fear of relapse of growth," said Frederic Buzaré. "There was a relative balance between supply and demand, with a barrel between 70 and 90 dollars. The price level was well controlled by OPEC, "said Sylvain Sérandour. "The erratic movements of the euro / dollar exchange ultimately had little effect on the price change in 2010," he said.

Without expecting an explosion in demand, analysts expect a bullish year 2011 for oil. However, opinions differ on the course objectives.For Federal Finance, oil is expected to increase slightly, driven by lower production majors who have limited their investment two years ago. But it should remain within a range between 80 and 100 dollars. More optimistically, Saxo Bank is located in a scenario of crisis, with rising demand that will pull the barrel to 110 dollars in the first half. Same side of Dexia AM who said that the rebound will continue. "The question is whether we can return to the record level of 2008 with $ 150 a barrel. That's the big question mark, "said Frederic Buzaré.

Copper in great shape

In addition to gold, 2011 will be brassy. As for base metals, the red metal will be missed next year.In 2010 already, the copper had distinguished itself from other metals with a gain of 35% in twelve months, despite the strong movements in currencies (the dollar strong, as during the Irish crisis, normally penalizes purchases). "You could expect a correction including bad U.S. housing figures. But despite these shortcomings, it has signed a very good performance, "said Sylvain Sérandour.

Copper has enjoyed a year of restocking after the crisis and demand remains strong while the reserves established are low. In India, for example, "the next five-year plan to increase infrastructure spending to 1 trillion dollars," said Compagnie Financiere Edmond de Rothschild, who said that in China, the materials have "a strong demand . For Federal Finance, "this lets consider a good direction, unlike other metals.Aluminum, zinc and nickel have indeed suffered in 2010. Next year, they should not receive much interest, penalized by an abundant supply.

Note that the side of the mining companies, 2011 should confirm the craze for big mergers. Already this year, several unions, often remained at the stage announcements or rumors, rocked the industry: Arcelor and BHP, Xstrata and Glencore, Arcelor and Massey Energy or BHP and Potash. The movement should continue in 2011, this time with real concretization. "The successful companies," says Harry Sebag. "In an environment where new deposits are hard to find, these movements are logical concentration. They will be reinforced by the strategic determination of some governments to retain control over key sectors, such as China with rare earths, "said Sylvain Sérandour.

Agricultural commodities under threat

That leaves the agricultural raw materials, one of the most difficult to grasp because of its heavy dependence on the weather. The latter, very capricious, has enabled the agricultural sector to sign a very successful year 2010. The twelve months have been marked by historic heatwave and fires in Russia that led to the withdrawal of one of the largest wheat exporting market. In addition, there were droughts in the American continent or the floods in Asia. Cereal prices have surged more than 70% in August, records were affected by coffee or cocoa, also troubled by political problems in Cote d'Ivoire. "It was a very good year," says one at Federal Finance.

Remains whether this beautiful year recur in 2011.Consumption, rising steadily, emerging countries should be the main driver of rising next year. But the weather conditions are still not unanimous favorite of the industry analysts. Especially as agricultural commodities should be particularly affected by the regulation of commodity markets, announced by the French presidency of the G20. In this area, "there were many effects of ads in 2010 but nothing concrete," says Federal Finance. "It will depend on political will but decisions will be taken in 2011, believed to be at Saxo Bank. Dexia AM but warned: "The regulations will be bypassed and will have a negative effect." The debate was launched.

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The largest French companies are not necessarily those that relate most to the state coffers. According to a survey published this weekend in the Journal du Dimanche, a CAC 40 company in four would not pay tax (CIT) last year. Danone, Suez Environment, Total, Saint Gobain, Schneider or completely escape such levy. Half of the CAC 40 companies chose not to respond to questions from the newspaper, but "if they say nothing is that they do not pay much," says in his columns a tax lawyer. As already noted a report by the mandatory withdrawals last October, the CAC 40 companies are taxed at an average height of 8% of their profits, against 33% normally. SMEs, less able to exploit various tax loopholes, by transferring an average of 22%.

Because it is under the tax code that the contribution of big business reached a level so low. Despite the high rate of corporation tax in France, many tax provisions, such as unlimited carryover of losses, the research tax credit or the deductibility of loan interest, they can indeed reduce their payments. According to the Council of compulsory levies, the cost to the state of the various loopholes in the tax and social benefit to companies reached 172 billion euros in 2010 on line pay day loans. Danone, for example, taxes deducted from the borrowing for the acquisition of Numico in 2007, says the JDD. And if other businesses, such Total or PSA, revertants do anything this year for being in the red, they may also limit their payments in subsequent years, with unlimited carry-over losses deplored during the crisis.

Finally, as a result of these multiple devices, the product of the corporate tax is reduced gradually. Hence the idea, supported by the Elysée, an overhaul of the device for more convergence with other European states, particularly Germany. Pressure without success on Ireland to raise its IS – the lowest in Europe at 12.5% – said the crucial for France and Germany at the tax variable. If the establishment of a single rate for all European countries seems unlikely, France and Germany would lead, at least, to fix a similar attitude. The European Commission should make proposals in March.