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The Paris Bourse is scheduled to begin last week's meeting in decline, in the wake of U.S. markets worried about the difficulties in Europe – Wall Street closed down over 1% – and the Nikkei in Tokyo down the same order Friday morning.

Since the beginning of the week, the CAC 40, which replaced the European aid plan of 750 billion euros announced in the night from Sunday to Monday. Last week, the CAC 40 index had fallen more than 11%.

Thursday evening, the benchmark index of Paris has stood still while the rest of Europe has evolved disparate: Spanish IBEX fell 1.11% to 9,977 points, when the BEL 20 has folded 0.22%, to 2534 points. While the Dax frankfurt took some 1.1% to 6251 points and the FTSE in London, 0.93%, to 5433 points.

The IMF: a report on public finances G20

Today, Europe is free of major statistical.In contrast, the United States, the indices continue to rain. Are scheduled for this afternoon publication of retail sales in April, very controlled, industrial production for the same month – also highly regarded – the index of confidence from the University of Michigan for the month of May – for a forecast of economic health – and stocks and sales companies in March.

Other important events this Friday, the IMF will publish its report at 5:01 p.m. on the budget deficit and public debt G20 Fast Cash Without a hassle.

EADS net profit down 39%

The giant European aerospace firm EADS said Friday a 39% drop in net profit to 103 million euros. The A380 still weighs heavily on the performance of EADS. The group has however confirmed its objectives for the year.

For this Friday, it is the only publication of results and no presentation of turnover is expected.

However, investors will follow the evolution of Cr?dit Agricole, showered yesterday: Securities fell 3.56% Thursday evening at the closing (the largest drop in the CAC 40). The bank posted earnings of 470 million euros in the first quarter when its rivals Societe Generale and BNP Paribas are respectively reached profits of more than 1 billion euros and 2.3 billion in the first quarter of 2010.

Furthermore, the Attorney General of New York has opened an investigation into eight banks, including Credit Agricole, to determine if they had provided misleading information about their mortgages before the subprime crisis, "according to The New York Times.

EDF side, the series on electricity prices is not over.Priced at 42 euros per MWh, the price increases would be 11.4% in 2011 and 3.5% per year between 2011 and 2025, according to the Commission for Energy Regulation (CER). Figures disputed by EDF. The government – which sets prices for electricity – and EDF belie such increase.

The Nikkei 225 of the Tokyo Stock Exchange ended trading Thursday up sharply from 2.18% at 10,620 points, thanks to good business results.The activity was average with 2.27 billion shares traded on the primary market.

Elsewhere in the region, the trend is very promising: the Hang Seng in Hong Kong up 1.05%, the Singapore Straits Times of Singapore won 0.3% to 2889 points and the S & P / ASX Sydney s 'gives 0, 71%, to 4652 points.

Sony confident

The Japanese electronics giant Sony has confirmed on Thursday it had ended the fiscal year 2009-2010 on a net deficit reduced to 40.8 billion yen (312 million), reflecting a return to the Green In terms of utilization through reductions in fixed costs.

With the renewed vigor, Sony also said Thursday that he hoped to finish the year began last April, and will be closed in March 2011, a net profit of 50 billion yen (about 400 million euros ).

Nissan Motor Co. is not far from being able to resume an operating margin of between 6% and 7%, said Thursday that Carlos Ghosn, CEO of the Japanese held 43% by Renault. On the occasion of the publication of a return to profit in the fourth quarter 2009-2010, Nissan had Wednesday reported a profit forecast for 2010-2011 considered conservative.

History! No fewer than three giants of French capitalism take their bow this spring. The vintage 2010 general meetings, which are in full swing in recent days, promises to be dominated by the departure of Presidents of Sanofi-Aventis, Total and Saint-Gobain. Jean-Francois Dehecq, Thierry Desmarest and Jean-Louis Beffa, former CEO during the course of their groups, have already sold one after the other the reins of the general direction of their dolphin. By one month, they also give up the presidency, he had kept time to pass the baton smoothly.

For a year, one quarter of the CAC 40 have experienced at their head movements, visible these days as AG. This is often an opportunity for groups to reconstruct the position of CEO, dear to the French tradition. Christophe de Margerie, and Pierre-Andre de Chalendar thus inherit full power Discount Total and Saint-Gobain.France Telecom, meanwhile, saw a rapid transition after the scandal of suicide. St?phane Richard, who took over on March 1, Didier Lombard Branch knows that it will not last: it is proposed as an administrator at the meeting of June 9, to get the Grail as CEO in spring 2011 .

Ultimately, if we exclude the Cr?dit Agricole – true to his rule called "four eyes" – and who will succeed Jean-Marie Sander Rene Carron as head of the group, the Germano-Canadian Christopher Viehbacher (Sanofi-Aventis ) is the only general managers to remain under supervision despite the departure of its president. Serge Weinberg takes effect in the torch left by Jean-Francois Dehecq, the founder of the pharmaceutical company.A matter of nationality? Last year, the board of Societe Generale had waived, under political pressure, to entrust the presidency to Britain's Tony Wyand after the resignation of Daniel Bouton. Rather than having a candidate imposed by the Elysee, the bank was then promoted its managing director Frederic Oud?a the rank of CEO and Tony Wyand placed at his side as vice president.

Vice President referent

If he returns to court, the model of the French boss is omnipotent and more often mitigated by the presence of a guardian "Jiminy Cricket" by his side. At Veolia, already, after the departure of Henri Proglio, his successor Anthony fawn followed closely since last fall by his vice-president, Louis Schweitzer. Axa similar pattern. Henri de Castries, chairman of the board so far, has certainly been converted CEO last week.But at the same time, Norbert Dentressangle, the owner of eponymous transport group, has been appointed as vice-chair, "referring independent director.

Jacques de Chateauvieux, who had succeeded to the presidency of the Executive to Claude Bebear, Axa's founder, had found himself as the structure to the Executive and Supervisory Board was not justified.

As at Societe Generale, had to adjust the statutes to give substance to this vice presidency, that does not exist in French law. Thursday, shareholders of Vinci will last for Yves-Thibault de Silguy at the podium as President. The great servant of the State, which had been called to the rescue in 2006 following the hectic departure of Antoine Zacharias, sits down on the vice-presidency. Xavier Huillard, the group general manager of concessions, makes him the scepter of CEO.A development designed to end the tensions that prevailed in Vinci.

Not easy, indeed, to live day to day relationship between a "chairman" and "CEO" in a foreign country that tradition. "France and the United States are the only countries where these functions remain separate," recalls Loic Dessaint, in Proxinvest, a consulting firm in corporate governance. In light of these latest twists, it appears increasingly that the wave of the separation of powers, meeting in the mid-2000s, showed more concern for some employers to ensure a smooth transition with a real cultural revolution. We had already seen, in 2009, Carlos Ghosn CEO of Renault erected at the term of office of Louis Schweitzer. The method remains valid.Essilor, Xavier Fontanet was withdrawn and the presidency since January 1, transmitting the general direction Hubert Sagnieres. Even the intended movement of 1 July for the specialist Veritas Geophysical GSC.

Finally, it may be tempting to take the highway in reverse, it can be expensive. Jean-Francois Roverato, CEO of Eiffage, who had time left for the operational reins back then paid dearly for this year. Its board of directors granted a renewal of his mandate for one year …

A few days after the publication of a sales soaring and better than expected, Ghosn perfect its operation seduction. The CEO of the automaker, which suffered heavy losses last year with 3.1 billion euros of losses, it is one of the most important sector, pledged on Friday at the annual Shareholders' return in the green "no later than 2011.

A challenge for the "cost killer" at Nissan, the shareholders re-elected for four years without surprise at the head of the automaker. Five years after its accession to the presidency of the group, the economic conditions in 2010 should however be difficult. The scheduled shutdown of the scrappage scheme in particular, should not contribute to boost the profits of Renault, who anticipates a decline of 10% of the European market this year.

"The club small groups producing more than 7 million cars a year"

To find the flexibility brought by the loan of 6 billion euros granted by the state earlier this year, Ghosn has also committed to the shareholders to repay that money more quickly than expected, it ie before the year 2014 Guaranteed fast personal loans. "We will refund well before the deadline and we will refund if possible in concert with our friends at PSA," he said. The lion brand was in effect at the time assisted the same amount.

The manufacturer expects to have the freedom again to close and installing production units it wants to reduce its costs.One recalls the intervention of Nicolas Sarkozy to stop the entire production of the Clio in Turkey …

Carlos Gohn finally defended the recent alliance with Daimler, well received by analysts but with more caution by the shareholders of a German manufacturer of luxury cars. "With Daimler, we enter into the restricted club of groups producing more than 7 million cars a year," argued the head of the corporation.

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