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While the country remains on alert this morning after a second explosion at the nuclear power plant in Fukushima Daiichi, the Bank of Japan (BoJ) to take exceptional measures to counter the effects of the disaster in the economic and financial systems. The BoJ has in effect this morning to four injections of cash for a total of 15,000 billion yen, 175.2 billion euros. The institution hopes to support the markets with its massive influx of cash.

His intervention had immediate effect on the yen, which fell abruptly when he was mounted in the early morning. The Nikkei index of Tokyo Stock Exchange plummeted finished him sitting on a decline of 6.18%.The volume of transactions reached a historic high on Monday to the Tokyo Stock Exchange, with over 4.88 billion shares traded on the primary market, representing more than 2.5 times the average normal. The Tokyo Stock Exchange has nevertheless been valuable to rate.

Automotive and nuclear values ​​fall

The share of the company Tokyo Electric Power (TEPCO), which operates nuclear plants in trouble, was particularly affected, it lost 23.57%, all holders of securities rushing to sell. The values ​​are also among the automotive titles most penalized Mitsubishi Motors plunged 10.9% and Toyota 8.1.

Indeed, many Japanese companies are facing serious damage on their production sites.Honda, Nissan, Toyota, Sony, Mitsubishi Motors, Suzuki, Panasonic or Toshiba have suspended their activity in one or more plants.

As for oil prices, they are on the downside on Monday in electronic trading in Asia. A barrel of Brent WTI lost nearly 2% to less than 100 dollars a barrel. The market is worried about a drop in demand in the short term in Japan.

Even if the destruction of the earthquake and resulting tsunami that struck Japan on Friday remain difficult to assess, AIR Worldwide, a specialist in risk assessment, advanced at a cost of $ 34.6 billion to insurance companies.For its part, the rating agency Moody's believes that the consequences of the earthquake and tsunami that hit Japan will be only temporary for the country's finances.

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The redemption price would be fixed in April, and the report advocating the "right price competitive" known until mid-March. According to the Journal de Dimanche (JDD), the findings of this report, ordered the former director general of INSEE Paul Champsaur, "are ready and recommend the price of 39 euros per megawatt hour (MWh).

The new law on the organization of the electricity market (prefecture), which shall enter into force on 1 July, stipulates that EDF, the incumbent electricity, must yield to its competitors – GDF Suez Direct Energy and other Poweo – up to 25% of the electricity produced in nuclear power plants. The selling price must be set by ministerial order. This new mechanism is expected to boost competition in an industry dominated by ultra-EDF.More than three years after market opening to competition, the French are indeed remained mostly faithful to the regulated tariffs.

Reflect production costs

EDF had voted for a rate set at 42 euros per MWh, Henri Proglio, CEO of the group, believing that selling below this limit would mean the "looting". Alternative suppliers, including GDF Suez, hoping for a price closer to 35 euros per MWh.

To fix the wholesale rate at 39 euros, experts have focused on the impact that the price on your household. The increase for the public, would be at least 35% in five years, with the wholesale price of 42 euros asked by EDF. It would be 30% at 39 euros, a level considered more reasonable by the Champsaur report, according to the JDD, or 5% per annum by 2015.Difficile to go below, however, according to the report."If the government does not overly increase the rates for individuals, it should not set a price too high for manufacturers," said a relative of Paul Champsaur quoted by JDD. Nome law specifies that the award should reflect "economic conditions of production" of nuclear power plants and it will be "consistent" with a specific tariff to business, Tartam (transitory regulated tariff for market adjustment) .

Friday, Energy Minister Eric Besson had told AFP that "nothing was adjudicated" and that dialogue "continue."He said that this price would be fixed "by a decree signed in April, after an arbitration of the President of the Republic and the Prime Minister."

(With AFP)

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French banks bear the brunt of the deepening of the crisis in Côte d'Ivoire. Ivorian President Laurent Gbagbo out, trying to stay ahead of the state and against the last presidential election, has announced last night on public television RTI "on decrees that the State of Côte Ivory took control by taking a full and complete participation in the capital of some banks. These include the SGBCI and Bicic, which are subsidiaries of Ivorian French banks BNP Paribas and Societe Generale.

His decision is to "preserve jobs and ensure the access of Ivorians and traders to their assets" in "as soon as possible." France has "condemned" the "nationalization" of banks, through the voice of the spokesman of Foreign Ministry.The two French banks have their part to comment the intentions of Laurent Gbagbo.

Financial asphyxiation

Following the post-election crisis, born of the struggle between Ivorian President Laurent Gbagbo and outgoing Alassane Ouattara, President-elect acknowledged by much of the international community, the Central Bank of African States (BCEAO ) has severed its ties with Abidjan in January to try to suffocate the Gbagbo regime. This isolation has closed the financial tap francs CFA president.Far from giving up, Laurent Gbagbo attempted to mount a viable banking system across Ivory Coast, the price of a "huge pressure" on the subsidiaries of large foreign banks to remain in business Business Card Holders.

But with the lack of liquidity, technical difficulties and legal risks, and the threat of sanctions wielded by the BCEAO against banks working with the Gbagbo government, especially when faced with violence that threaten the safety of their employees, BNP Paribas and Societe Generale first, yesterday, gave the signal for withdrawal. "Other banks will close," predicted one senior industry.

Effect "cataclysmic" freezing the financial system

Already five major foreign banks have decided to suspend their activities. The interruption of their business is blocking the Ivorian banking system, plunging the country a little more into chaos.The economy had indeed already been drastically slowed by the sanctions of the EU imposing such a ban on the two ports, the country's lung. The effect of blocking bank could be "cataclysmic," according to some.

Already, Abidjan went to stop their banks to withdraw their money. "It is feared the contagion effect, so we just remove a little about our savings," says one entrepreneur. "I'd rather have my money on me, it is unclear what will happen," shouts one soldier. The political crisis appears to have already led to a banking crisis that goes straight to an economic crisis.

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Despite the rise of the franc, the Swiss watch industry is growing again. In 2010, exports of the sector amounted to nearly 12.3 billion euros, or 22.1% more than in 2009-results that reflected their pre-crisis level, due to the vivacity of Asian market.

After a year of slowdown, how brands have they faced the recovery? Some had anticipated the rise in sales. "In late 2009, our results were already excellent," says Jean-Claude Biver, CEO of Hublot watches. We bought more raw materials and hired 60 people! "Other chains have also relaunched the recruitment as Breguet, Tag Heuer and cores. Some, finally, forcing customers to wait. "For a Panerai or a Montblanc, it can go up to a year, said H. Roderich Hess, former CEO of Montblanc Switzerland.Customers know that the luxury watch requires exceptional skill and they patiently wait. "

The industry is optimistic, however, hampered by the rise of the franc. In an interview with the magazine Bilanz, the director of Swatch, Nick Hayek, estimated at 380 million euro loss for 2010 sales caused by depreciation of the euro. The competitiveness of the Swiss watch has declined.

To fix an exchange rate to their disadvantage, producers have raised prices of their watches: +5% in 2010 for Audemars Piguet and Cartier, who think all over again, like Jean-Claude Biver No teletrack payday loans. "While ensuring the value of our currency on forward markets, we have adjusted our prices four times in 2010, an increase of about 20%," says he.

Subcontractors affected

The rise of the franc was not all bad.It allowed the watchmakers to buy at lower prices for raw materials and components abroad. A strategy has its limits: to get the "Swiss Made", these companies must in Switzerland at least 80% of manufacturing costs for mechanical watches.

If large groups are doing well, this is not the case for their sub-contractors, some 600 Swiss companies that still show the effects of the crisis. "They are affected first and the last to resume growth as brands sell their stock before ordering new," said Jean-Daniel Pasche, president of the Federation of Swiss Watch Industry. After losing 20% of its turnover, the director of Pac Team, Alain Borle, "sees a light at the end of the tunnel.Watchmakers have not really launched new programs, but I think imminent. "

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Nicolas Sarkozy announced Thursday that the government would generate an additional EUR 500 million in the budget for the job to fight against the long-term unemployment and promote early learning. "We will mobilize all our forces" for the job, said the head of state. "Growth has returned, the signs are encouraging, it'll work." Guest on the program "French Song" on TF1, the president said the new investment would be offset by savings in other departmental budgets.

Nicolas Sarkozy, who announced a year ago, during the same fiscal response to the French on TF1, "unemployment would fall in the months to come," was in a difficult position this Thursday evening when the situation is far from s be improved on the unemployment front in France.Although 2010 has been less dramatic than the 2009 balance sheet remains very negative.

Employment "at the heart of the priorities" of government

The hexagon returns to levels not seen since more than ten years: 31 December, there were between 2.72 and 4.05 million unemployed by their category. Be between 80,100 and 202,500 job seekers from a year earlier, however, increases 2-5 times lower than in registred in 2009.

The CAC 40 continues on the path to higher Tuesday. Halfway through, the benchmark index in Paris gained 0.86% at 4039.98 points. Investors, who pushed the benchmark index in Paris yesterday to rebound, do everything to maintain the 4000 points. The closing in the green on Wall Street and the increases, even timid, in Asia this morning, contend that the movement extends to other European markets: The London Stock Exchange climbed 0.81% to 5910.69 points. The Dax index featuring the Frankfurt Stock Exchange gained 0.97% on its side at 7145.90 points.

But the news from China are likely to weigh on morale. According to the China Federation of Logistics and Purchasing (CFLP), the PMI manufacturing index for January was again slowed to 52.9 in January against 53.9 in December 2010 and 55.2 in November. HSBC is less categorical and evokes a PMI remained virtually unchanged at 54.5 in January, against 54.4 in December.What sow doubt in the minds of investors, already disrupted by protests in Egypt.

On the foreign exchange market, the euro continued to rise above $ 1.37 on Tuesday after sharp rebound the previous day fueled by the figures for inflation in the euro zone that gave rise to speculation about a increase in the rate of the European Central Bank. Around 11:15 in Paris, the euro bought 1.3775 dollars against 1.3686 dollars late Monday, its highest level since Nov. 22.

Gust Statistics

Still on macroeconomic, particularly busy day ahead.

In France:

– The producer prices in December rose 1% after rising 0.4% in November, while prices for exports have been 0.6%, INSEE said on Tuesday.Furthermore, growth of manufacturing activity slowed in January, falling to its weakest pace in six months. The PMI index fell to 54.9 against 57.2 in December. An initial estimate had been given to 54.3 a week ago.

For the euro area:

– The number of jobseekers in Germany fell by 13,000 in January in seasonally adjusted data, more than expected, falling to 3.135 million, said Tuesday the Federal Labour Office.

– Manufacturing activity accelerated faster than expected in January.The PMI index rose to 57.3 in January against 57.1 in December, higher than the flash estimate of 56.9.

– The unemployment rate was 10% in December, unchanged from November.

In the U.S., the ISM manufacturing index will also be published, along with construction spending in December (16 hours.

Sanofi gets closer still Genzyme

As for values to be followed:

The values of the energy sector that benefits from rising oil prices. Total clinching 2.37% to 43.73 euros, Technip 2.60% to 72.1 euros O and CGC Veritas winning 3.30% to 22.89 euros.

Club Med: + 0.57% to 16.85 euros, Lafarge: + 2.37% to 44.30 euros, Air France: + 0.52% to 13.42 euros

The tour operator and the cement, very present in Egypt, are particularly challenged in price since the beginning of political troubles in the country.They are less so today, the day of the "march of a million" people in Cairo and Alexandria.

For its part, Air France will increase its capacity between Paris and Egypt from Tuesday to facilitate the repatriation of its customers payday loans online.

Sanofi-Aventis: + 1.11% to 50.43 euros

The French group and its U.S. counterpart Genzyme reached an agreement in principle on the structure of a rapprochement between the two groups said on Monday two sources familiar with the matter.Moreover, U.S. authorities have opened preliminary investigations on the potential risks of drugs produced by Sanofi-Aventis and other laboratories, said Monday the Food and Drug Administration (FDA).

Renault: -0.91% to 47.35 euros

The automaker announced Monday expected to resume with an operating profit in 2010, the current year to be marked, he said, in an operating margin of 2.8% against -1.2% in 2009. More generally, manufacturers will be monitored with the publication today of car registrations in January. The market is still supported by scrapping, because in January registrations were up 3.1% at comparable number of working days.

BNP Paribas: + 1.94% to 55.66 euros, Societe Generale: + 0.28% to 47.38 euros

The bans short selling of financial stocks, decided in 2008 after the bankruptcy of Lehman Brothers at the height of the financial crisis, will be lifted on Tuesday along with the entry into force of a modified version of the General Regulation The AMF makes such a mandatory takeover bid from the ownership threshold of 30% and not more than 33% of a company.

EADS: + 0.45% to 21.14 euros

A WTO report issued Monday contends that Boeing has received U.S. government grants unjustified.This latest announcement "a huge rejection of assertions of the European Union."

GDF Suez: + 0.74% to 29.19 euros

The group announced lundiun agreement for the purchase of five underground storage sites for natural gas in Germany, and a stake of up to 19.7% in another site.

EDF: -2.76% to 31.31 euros

EDF shares recorded the strongest decrease in the CAC 40 after information Voices that Paul Champsaur, one of the architects of the reform of the electricity in France, will offer a selling price of electricity from nuclear EDF lower than that required by the electrician.

ArcelorMittal: + 0.73% to 26.80 euros

The steel and mining group Vale, but also groups of South Korean and Chinese companies are among the 15 candidates for the development of Tavan Tolgoi coal site in Mongolia, considered the main source of untapped coking coal in the world.Its reserves are estimated at five billion tonnes.

Technip: + 2.73% to 72.91 euros

The group announced Tuesday it had won, in consortium with Daewoo Shipbuilding & Marine Engineering, an engineering contract for a floating liquefied natural gas (FLNG) in Malaysia.

Carrefour: -1.26% to 35.19 euros

The retail giant confirmed Monday to study various projects likely to lead to the marketing of certain of its assets, including its real estate subsidiary Carrefour Property.

Alten: + 3.54% to 26.39 euros

The group announced Monday include organic growth of at least 8% in 2011, driven by the dynamism of its markets, and pursue acquisitions.

The President of the Higher Audiovisual Council takes a stand against the idea of reconciliation of the APF and Arcep, the telecoms regulator.

LE FIGARO. – Do you support the appointment of a government commissioner in the CSA as envisaged in Arcep?

Michel BOYON. – The question will never be relevant! Certainly, there are commissioners of the government with independent authorities such as the Commission or the Energy Regulatory Authority of competition. For the CSA, which is the guarantor of civil liberties and fundamental respect for pluralism in broadcasting, it would be simply absurd.

What is your position on a rapprochement between Arcep, the CSA and the Agency of frequencies?

This subject is often poorly addressed.There is a tendency in France to focus on approaches by the structures and organizations, so that what counts is the strategies and objectives. You can not play Lego with institutions that have declared their independence, demonstrated their competence, acquired their legitimacy. In our country, the park is well managed Frequency: CSA and Arcep actively participate and work together on such topics as the dividend or digital TV on the move. This cooperation was highlighted three years ago in the plan "France numérique 2012". But remember that the CSA has a great originality. It is a regulator of content, only in France, and whoever has the most power in Europe and worldwide.When he assigns a frequency to a radio or television, it does for a given program, in exchange for free use of the frequency, it requires a chain of obligations that it ensures. The heart of activity Arcep, however, are the competition issues related to networks. Nothing has been said in recent days about the relationship between the two institutions does not bother me. But if some wanted in this way restrict the regulation of audiovisual content, it would be unacceptable.

How the CSA can regulate Internet content?

There is a complete – European directive, law, decree, Proceedings of the CSA – to regulate Internet services business of video on demand. What is not regulated, it is the content posted by individuals on video-sharing sites.Yet it is they who raise the most difficulties in terms of child welfare, dignity of the person or racism and antisemitism. With the TV connected, their impact will intensify. The only course of action today is the referral of a judge. It is very inadequate. We must organize a true co-regulation, starting with strengthening the signaling device, which is not used enough. It should also establish a code of ethics involving publishers and hosts, including the protection of young people, and could lead to a label given by the CSA. We could go further by calling for parental control software filters sites that would not have this label. Finally, the CSA could be empowered to order the withdrawal of illegal programs and even have a power to impose penalties for repeat offenders. For this, we need a law.There is no question that the Internet is a zone of lawlessness with respect to our core values. It is an important topic that transcends borders and I hope that at the next G8 summit, some time will be spent.

Can we settle the issue of Net neutrality amendment by a simple?

The CSA is obviously very attached to Net neutrality. It would be unacceptable to the radio or television suffer from discriminatory choices made by operators, especially based on financial criteria. If we did not warranty this subject, a strong law is needed.

How do you approach the arrival of the connected TV in France?

A year ago, when we talked TVs connected, we never thought to see happen so fast. This is progress for the viewer, but we must anticipate the consequences would be negative.My first fear is that a disruption of the balance of an entire economic sector. For example, publishers of free channels will see their audience is more fragmented, while a portion of advertising revenue will be diverted to the search engines. Furthermore, the connected TV will reduce the role of commercial distributors. French services for video on demand will experience a distortion of competition in foreign service, or hacking video sharing sites. In total, support for the French production is no longer guaranteed as it relies on the sales channels and its components – investment obligations, broadcasting quotas, chronology of media exclusives – would be threatened. It is urgent to make proposals on the subject.The CSA has decided to organize this international symposium next April 28.

Digital radio can it lie fallow?

The CSA has done what the law required it by setting the frequencies and selecting candidates. But the crisis came and blocked the entire device. I am concerned about the reluctance of some operators. Eventually, the radio will not be satisfied with the frequency modulation and long wave. But I think the Internet can only be a supplement to a radio broadcast. Large stations should understand that their brands may wane amid tens of thousands of radio stations broadcast on the Net. Finally, as Chairman of the CSA, I can accept that 30% of French people have access to only ten stations over the air.I rely heavily on the report that the Prime Minister has asked David Kessler.

The personal mobile TV is still not launched in France. Why?

There was a tremor with the initiative of Virgin Mobile, and TDF. Unfortunately, the application of the VAT increase offerings of mobile operators broke the momentum. I urge that this be deferred for three or four years.

When will you launch the tender for two new DTT channels?

As soon as possible. But this launch is subject to the intervention of an order to finance the redevelopment of frequencies to provide the necessary space for two multiplexes that will host the new channels. Must be made before the decree on April 30.

Snow plays tricks on the euro. Christine Lagarde has missed an appointment Thursday with his German counterpart Wolfgang Schäuble, who was speeding at twice the site opened last EU summit: the economic convergence between Paris and Berlin and building the future "IMF" European.

Nicolas Sarkozy and Angela Merkel have promised to work in the early weeks of 2011 to greater harmony between France and Germany on the fiscal, economic and social development. The sixteen countries of the euro area have also pledged "to be finalized by March" plans of the European Stability Mechanism (SPM) in 2013 which will take over from the current interim bailout fund.

If the principle of convergence is acquired, the sensitivity differences emerge from the implementation, including within the Franco-German couple.The preparation of the meeting in Strasbourg, at first secret and finally canceled, provided confirmation: economic governance, the key fiscal and debt return to growth in Europe, Berlin and Paris keep opposing views.

"Strategic decisions must belong to the states and their leaders. To them the last word, "Christine Lagarde insisted Thursday, taking the French argument, in an interview with the daily Sueddeutsche Zeitung. Viewed from the German side, the European recovery would rather rely on an institution as independent as the Bundesbank is now under the joint control of national parliaments.

Loans Unlimited

This is the central proposal of a working paper of the federal authorities, including Le Figaro has obtained a copy payday advances.Berlin has denied it is a formal proposal, approved by the Chancellor, or even by Wolfgang Schäuble. But they have not denied the content. This is a trial balloon, intended to mark the position of Berlin before the eyes of fifteen other countries of the euro does not undertake before the real discussion.

Renamed the European Investment Fund Stability and Growth in the German version, the MES would be a parallel institution to the European Central Bank (ECB) in Frankfurt. By prior agreement of the Sixteen, it would normally have a capacity of refinancing "unlimited." It would provide "emergency" loans strictly conditioned to the euro countries in difficulty.

In return, recipient countries should give him the equivalent of 120% in senior secured (gold, securities of public companies, etc.)..On a voluntary basis, the fund would also proceed with the rescheduling of debts. If the question was allowed, this very policy confirms that Berlin "has a national interest in the sustainability of the euro".

But it marks equally clear that countries of the euro "should meet German expectations. (…) Is to Germany, as an economy of casting the euro area, it is up to be the anchor of stability. "In short, setting the tone.

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Bombshell in the case of insider trading of EADS. The record is not as closed as we might have believed. The Autorité des marchés financiers (AMF) had ended the affair by making harmless the 17 players in the case. But the judicial inquiry opened in Paris in late 2007 is still ongoing and has led for over two years, several indictments, including that of former co-chairman of EADS, Noel Forgeard.

A new twist is what happened Friday. The commercial director of Airbus, the American John Leahy, was indicted for insider trading. The "man in 8500 Airbus sale" is alleged to have benefited from inside information about the financial prospects of Airbus, more pessimistic than they were internal to the market, as well as delays on the programs the A380 superjumbo 100% free credit score.He would have sold 260,600 EADS shares from his stock options in November 2005 and March 2006 and withdrew approximately 3.12 million euros, according to a report by the AMF.

The indictment, handed down by judges in Paris, came after the convening of a dozen leaders of the European aircraft manufacturer in recent weeks, it was clear from the same source. There were several other indictments of people whose identities have not been clarified, as well as hearings as witnesses attended.

The European aerospace group EADS has declined comment.

(With AFP)

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Georges Tron is state secretary Eric Woerth, responsible for Public Service

LE FIGARO. – You had announced the end of the year a law on the insecurity in the public service. Why does he starts late?

Georges Tron. – He was interrupted by the pension reform. The unions did not want to continue the dialogue during this period when they opposed the government. This is unfortunate and understandably. I wish on this subject as on others renew the son of social dialogue and resume consultations with the aim of drafting by the end of a document to serve as a basis for real negotiations in early 2011. The ideal would be to present in the wake of a draft law to Parliament.

Nicolas Sarkozy had said in January this year, "be prepared to consider progressive contractual tenure.Civil Service Will it recover to hire massively?

We will not plan the 17th overall tenure in the post-war! Especially since the 850 inexpensive business cards.000 contract staff are not all in a precarious situation. Commission agents for example, does not necessarily want to become civil servants, because a CDI can they afford not to be subject to certain requirements (mobility, training …) recorded in the status of public service. It is against abusive situations that we will fight.

For those who want it, we will build bridges but integration is not automatic. We'll see what kinds of tests we can imagine.It would be absurd to make them pass the entrance exam in the traditional civil service must be rather a form of recognition of prior experience, since these people work for government for years.

Will you stop repeating the CSD?

This is another component. On the one hand we want to clarify the rules since 2005 make it necessary to propose a permanent contract after six years of CSD. They are too often misused, especially by local authorities. We will ensure that they apply consistently, including when the first contract is signed for meeting a temporary need. " If the agent is still present six, eight, ten years later, the need was permanent! For an agent, it is difficult and unusual to have to attack her employer to court for recognition.

On the other hand, we want to allow the signing of a permanent contract at the outset, not only by agents of category A. So far, they are almost reserved for categories A. Or, at least 40% of staff in category B and category C are under contract. This situation holds in a weak position tens of thousands of agents. Ending it will avoid re "stocks" CDD abusive.

But unions are reluctant to increase the CDI, which they see as a stopgap. They claim tenure held …

For the first time in October, the electorate for the elections in the professional civil service will integrate the 850 best business cards .000 Contractors. A change that the unions wanted, because of the Bercy Accord follows that six of them, eight have signed.This will lead, I think, to evolve. In this they have years ahead of the left who in 2005 voted against the Commission, preferring to maintain a public function at two speeds: CDS precarious one side and the other holders.

You also intend to create mission contracts. Do not you fear an outcry?

This finding very specific skills, we do not have in the administration, eg for a large IT project. It is more relevant in this case, to provide that the contract expires when the project is completed rather than after a fixed period or resort to a dismissal procedure.