By mid-2011, the company has completed the financing of the program, which would secure the project completely. Of the 170 million euros needed and after the capital increase in July, it still lacks 50 million. The Lorraine region shortly to confirm its commitment to the tune of 7 million euros in exchange for entry to the capital of Geci Aviation.Sovereign wealth funds French (FSI) and foreign (Middle Eastern) should also take a ticket alongside private investors.

Serge Bitboul, aeronautical engineer and founder of the training group, displays his confidence. If it involves an element of risk, the project has, indeed, serious arguments to make. The concept first: the device looks like a low-cost airline, military and civilian purposes and multimission. A kind of "baby A400M" able to carry 19 passengers, 28 cubic meters of freight or express packages, conducting evacuation operations sanitary surveillance of maritime or land borders. But unlike the giant Airbus, the Skylander S-105 is a lightweight and strong. "It is easy to design and produce.It can be sold in batches and displays a competitive price of $ 5.2 million for the basic version, "says Serge Bitboul.

Implementation in Malaysia

Its commercial prospects are, in view of market research, promising: the need to reach 7500 units between 2012 and 2028 including 4000 in the passenger version. The Skylander hopes to conquer 20% to 30% of the total, knowing that the stalled program is 250 units.

Competition in this niche market is also still low. Launched in the 1960s and 1970s, the Twin Otter aircraft made by De Havilland, Dornier 228 others have been delivered to more than 4000 but production has stopped. The fleet is aging. Two companies were taken over by buying licenses: the Canadian Viking Air Twin Otter Recovery and Swiss Ruag the Dornier 228.The planes have been upgraded but the system of production has changed little. "The other competitors have disappeared while as Fokker, Embraer and Bombardier are mounted in line. So there is a space to occupy, "says Serge Bitboul. The SK-105, single unit designed in the early 2000s, will face Chinese rivals. Avic Group launched the Y12F, Y12E successor, which will enter service by 2013.

To date, the Skylander recorded 14 firm orders, including 4 for the Malaysian Army. Geci plans to open an office in Kuala Lumpur and a service station this fall. But overall, the unit has received over 500 brands of interests form of letters of intent or memoranda of agreement which should result in contracts in good and due form.The French army, which wants to replace its fleet of Twin Otter aircraft used for training and operations of routes, has also expressed interest.

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Eric Woerth's proposal to hold further discussions before considering the text on Sept. 7 failed to calm the ardor of unions to fight. "The minister's letter has also stiffened relations", says Jacques Voisin.The CGT will not lend itself to exchanges which are lip service to the thesis of social dialogue is still alive, so that no real negotiation is still the order of the day ", said Thursday its secretary General, Bernard Thibault.

For him, it will be to decide on the streets: "We're heading for a big day, perhaps even unique, and I can not imagine it will not affect the head of state," he said on RTL radio Friday. The boss of the CGT also judge Nicolas Sarkozy "much more feverish" at this time. In his eyes, his decision not to restrict the device housing assistance for students shows. "This is the topic that would put the students in the street," says a spokesman of the majority. "It's a sign, says Alain Olive, secretary general of the UNSA.Nicolas Sarkozy must remember that this is not the unions that have obtained the withdrawal of the controversial First Employment Contract in 2006, but the presence in the processions of schoolchildren and students. He is wary of a mass effect from them. "

"All the shots are allowed"

Alain Olive, too, considers that "the Elysee concessions are available to show that the president is listening, but only at the margin, on the issues left open (career long, arduous and polypensionnés) before summer . "The Head of State realizes that there are inequalities in policy and that the sum of these injustices becomes problematic," adds Marcel Grignard. Forgery, replica near the Head of State: "Nicolas Sarkozy is serene.He is less worried about the outcome of the reform for the good economic indicators released in recent days show that cuts to the budgets of state and social will be less painful than he thought. But he was more afraid of the reaction of the French on the issue of expenditure on pensions. "Even at the Elysee opinion:" We expect a large-scale mobilization, so it is unlikely that changes our text if so. "

Jean-Claude Mailly, general secretary of FOR, raises the bar "more than two million protesters. Either a higher level than at the last day of mobilization on June 24 "People will have something else in mind that the pension reform, warns Jacques Voisin: laborious recovery, employment, discipline …" But also the case Woerth-Bettencourt."Everyone knows that the reform will be polluted by his supposed status in question," Bernard Thibault launched yesterday, when he had thus far refrained from comment. A little phrase that has infuriated the Head of State, who "has now concluded that all shots are allowed," slips one of his relatives.

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"Pensions: the Senate attempted by the German example

Recently, the rumor was almost confirmed by Asian manufacturers produce components. According to the site DigiTimes, which is the mini iPad loan could be sold in early 2011. For its part, Apple is hiding behind a "we do not comment on rumors or speculation."This response is involved in marketing the firm headed by Steve Jobs who control the millimeter communication. Rather than confirm or deny rumors that often are based, as was the case for the iPhone 4, iPad, the first iPhone, iPod touch and the superdrive, the Cupertino increases curiosity and speculation. This mechanism allows the firm to apple to get much publicity at little cost. The iPhone 4, "lost in a bar" by an engineer from Apple and bought by the site Gizmodo, made news on both sides of the Atlantic. Interest is especially great that Apple has become the first market capitalization of technology companies in the United States.

Cheaper

In addition, his famous iPad has created a new family of products both for entertainment – with video, music and games – and a working tool, still connected to the Internet."We've created a new category of equipment that the" Web Book "which brings new products connected to the Internet that do not, as standard, making voice communications. These products are larger than just music players and have an operating system for mobile. The iPad is the only representative of this category with the Archos 7 Home Tablet, "says Matthew Cortesse, telecoms analyst at GfK. Apple could push its advantage to dominate the segment it created. His future competitors, the major brands of computers and the Internet have not yet entered this market and plan to do so by the end of the year shelf the size of the alleged mini iPad.

About the speculation, "I think that equipment 7 inches diagonally, at a price lower than the iPad is an opportunity for Apple," said Carolina Milanesi, analyst at research firm Gartner.But "there is a risk of cannibalization of the iPod touch, unless Apple plans to make its iPod Touch product entry for the players. A 7-inch equipment would then bridge between an iPod touch and the iPad. Finally, the mini iPad, less costly, would allow "Apple to entice an audience that does not afford the original." According to versions, the iPad has sold between 499 and 999, the price of a laptop.

Wednesday evening, the CAC 40 finished up slightly, from 0.35% to 3760.72 points. Road to 3800 points?

According to technical analysis, but very quickly exceeded 3770 points, the CAC 40 3% could consolidate … So watch this Thursday if investors choose to continue to increase frankly, if the correction will be severe.

Side currencies, the euro is back under $ 1.32 on Wednesday. At around 7:30 Thursday morning, 1.3161 should be dollar for one euro.The single currency has stabilized again after having passed the milestone of $ 1.31.

The ECB decision on interest rates

In terms of macroeconomic publications, we expect the course to 13:45 ECB decision on interest rates from the European Union. Shortly before, in Germany, industrial orders for the month of June will be known. Remember that Germany is the European country that is doing the best of the Old Continent.

American side, the weekly claims for unemployment benefits will déoilées 14:30.

Sopra and Vicat released yesterday after-hours

The services company Sopra (2.97% to 57.15 euros) on Wednesday confirmed its organic growth targets and slight improvement in operating margin in 2010, after a first half marked by a 59.2% jump in operating profit current with large contracts in France.

The Vicat Cement (+0.23% at 51.55 euros) announced Wednesday expect a gradual stabilization of its sales volume in France this year after a second quarter marked a rebound from its almost universal activity cement.

Wednesday, Societe Generale (+0.8% at 46.07 euros) published the results of good quality. CEO Frederick Oudéa, is much more serene than a year ago, can you read in an interview with Le Figaro. The bank reported operating results improved significantly.He believes that the euro crisis was excessive.

The mutual insurer Groupama in the first half net profit down 29% to 78 million euros, according to a statement released Thursday, partly due to an unfavorable base effect related to provision reversals in the first half of 2009.

Sector Analysis

As always, during the violent phases of the stock market rebound, there is the issue of market valuation and different sectors. According to Aurel BCG, called defensive sectors' health, utilities, and telecommunications "have a PER at their historic low. They care little downside if the market downturn but in the short term, they should not experience a strong increase in their recovery. "

The bank, after their recent rally, are less attractive.However, many investors have ousted this sector of their portfolios when they were at the heart of European concerns. And after the recent positive news on the sector (stress tests, good results), the value of bank shares could still rise.

The technology sector and industry, in terms of their business outlook remains attractive and still cheap. Warning against the industry by Food and beverages, the broker warned.

Finally, travel and leisure sector is expensive. But it has great potential for upward revision of profits for the coming weeks.

The preferred placement of the French reported below inflation which rebounded 1.4% in June compared to last year. Probable, the French have done in May last more withdrawals from their savings books that they have deposited money, announced the TFB end June A first since the beginning of 2010 online payday advance.

With 183.4 billion euros placed at the end of 2009, Book A is favored by the French more than ever.According to a report just released by the Observatory of regulated savings, there were no fewer than 59.3 million savings books (and blue, distributed by credit unions), to nearly 65 million people! With the 600,000 booklets initiated by associations, the French have nearly 60 million booklets A. Or 10 million more than the end of 2008. By law, yet each person can hold a booklet A.

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"The rate of the Livret A record 1.75%

On the foreign exchange market, the euro retreated against the dollar, traders were playing the card of caution before the release Friday of the results of resistance testing of the 91 largest European banks.In the morning, the euro was at 1.2867 dollars against 1.2881 dollars the previous day.

The session will be moderated somewhat in the macro, no indicator being expected that day, but many U.S. corporate results must be published in mid-day, including Coca-Cola and Wells Fargo banks and Morgan Stanley free credit score.

On the side of values, Apple released its quarterly after the close of Wall Street.The firm at the apple once again exceeded market expectations in the third quarter of fiscal offset with net income up 78% year on year to 3.253 billion dollars, and sales far beyond forecasts.

Always on the side of values, the U.S. Internet portal Yahoo! posted a group net profit up 51% year on year to 213.32 million dollars in the second quarter, better than expected by analysts, but its sales came out virtually unchanged.

Also note, the British oil giant BP, which is listed on Wall Street has reached an agreement on Tuesday with U.S. rival Apache to sell him to seven billion dollars in assets, making a sudden the majority of assignments to which it s 'was hired to offset the cost of the spill.

In Shanghai, the price stood at the top of its indicative range which started at 2.52 yuan. AGBANK and sell for 22.24 billion yuan-denominated shares at a price of 2.68 yuan coin, or 59.6 billion yuan (8.8 billion dollars).

In Hong Kong, AGBANK sold 25.4 billion shares, representing 8% of its enlarged capital, at a price of 3.20 Hong Kong dollars part, totaling U.S. $ 10.4 billion, reports Reuters.

Offer oversubscribed

According to reports from Reuters, the offer of AGBANK in Shanghai was 20 times oversubscribed by institutional investors.In Hong Kong, the institutional demand came from Asia to 4%, 30% U.S. 25% Europe you saving account payday loan. Individuals have however shown little enthusiasm in Shanghai, like Hong Kong.

In total, AGBANK rise $ 19.3 billion through its dual listing and even 22.2 billion dollars if the over-allotment option is exercised. It is widely expected in the financial sphere. This would become the largest ever in the world.Previously, the largest IPO was that of javait Industrial & Commercial Bank of China with 21.9 billion in 2006.

The IPO allotment option included, values AGBANK about 150 billion dollars (nearly 120 billion euros), making it the fourth largest bank in terms of global market capitalization behind ICBC, China Construction Bank and HSBC .

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Already, in an interview with Le Parisien, the leader has unveiled details of its new strategy. Stéphane Richard wants to empower his group to answer the series of suicides that has shaken the operator for more than a year. Thus, the leader has established "a new charter with five key managerial principles whose watchwords are autonomy, trust and respect." The boss also advocates listening.Stéphane Richard also wants to create a "dozen" in "places of training for 20,000 manageurs group" and a stabilization of the workforce in 2010, with "3500 recruitment to offset departures"

Emerging in the viewfinder

Furthermore, the leader plans to spend 200 to 300 million customers worldwide by 2015. The strategic plan "Conquests 2015, and based on the development of communication networks. The officer also refers to "the conquest of the international, especially in emerging countries.

Stéphane Richard also announced the merger of France Telecom and Orange "well before 2015.

Yet as the heroes of comic books, Charles Beigbeder conducts its business in the charge, hussar to conquer Ukraine. "His outsider allows him to undertake the impossible in our eyes. He charges no ulterior motives. Grow 45,300 hectares in three years in Ukraine, with a small team, for us it was unbelievable, "explained his field man, Charles Vilgrain, young chief executive of AgroGénération who rents the land now six collective farms Ukraine.Charles Beigbeder is with his partner Alain Mallart, shareholder. They rely on the required increase of 70% of agricultural production provided by FAO, to feed the world population by 2050.

Nothing is too good to conquer the breadbasket of Europe, under-utilized in the courtyard of a huge kolkhoz Glukhov Case-IH Steiger articulated eight wheels, 535 horsepower, illustrates the enormity of the operation of 8000 hectares. With a tank of 1000 liters, it can run tirelessly in "three to eight" during the harvest. "The effect of size is a key to success, assures Joseph Alexander, CFO AgroGénération. The park is powered on average four times higher than in France, but the area 100 times greater. "

These farms were not chosen at random.The optimal humidity coincides with the very fertile black soil, the chernozem, the humus layer is so thick that it provides costly irrigation facilities. At Glukhov, no deep furrows of the earth scratch disks. This more gentle to the ecosystem is also good for the accounts: "The fuel savings and pesticides made possible an improvement in 30-50% of the margin," says Joseph Alexander. "The optimum is equivalent to 53 quintals per hectare wheat," says Charles Beigbeder. Today, farms are close to 43 quintals, or about the financial balance.

No taxes on corporate farming

Since the beginning of the adventure, all the activities required a total investment of 30 million euros (Shiloh, equipment …). Analysts expect a profit for the fourth year in 2011.For the current year the group should not be so far from equilibrium. Special zone: Ukraine no taxes on corporate farming, or VAT. To locate, AgroGénération relied on the experience of agri-industrial group Cereals French Champagne which it now sells its production of barley.

The risks are real: four guards protect equipment and crops. The GPS is used not only to optimize the use of fertilizers, but also to monitor the equipment to trace. To retain its 350 employees, AgroGénération offers the highest wages in the region (250-500 euros), while the average farm wage is 180 euros.

The company treats its relations with donors land farmed in 2800. Almost all are paid in kind with grain (750 kg) which will then feed the animals. But already Charles Beigbeder dream of other horizons."The presence in South America with the offset of the season will smooth the cash and share risks," says company founder, has set a goal: 100,000 hectares in 2012 in Ukraine.

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"We find orders of magnitude quite similar to (those of the storm, ed) Xynthia" for the party claims related to flooding and not the storm, said at a news conference, Mr. Spitz who noted that the average cost of a loss related to water was significantly higher than that of a loss related to the wind.

60% of the victims compensated in three months

The importance of the bill can be explained by the fact that many businesses were affected, and many car dealerships, said President of the FFSA, which also mentions several herds decimated."We do not yet make a more precise estimate than that," said Mr. Spitz, indicating that many insurers have themselves been victims of floods, making it difficult to make accurate estimates.

The torrential rains last week in the Var and the floods that have caused have affected 1,000 companies, according to the prefecture of the Var.

The cost of the storm Xynthia, which swept France in the west is February 28 and killed 53 people, was estimated by the FFSA to 1.5 billion euros, 700 million due to flooding to about 500,000 claims in total. Mr. Spitz said that in three months, about 60% insured Xynthia victims had received compensation.

deterioration of the profitability of insurers

"The year 2010 does not start better than 2009 in terms of claims," commented the managing director of the FFSA Jean-François Lequoy. Propagation of climatic events in 2009, including storms and Klaus Quinten, but also the increase of thefts and claims costs have put pressure on insurers, who have been forced to raise their prices in home and automobile.

The impact of floods but also Var Xynthia the storm on the combined ratio (compensation and overhead ratio of the amount of premiums collected) for insurers "will be visible," said Stéphane Penet, director of property insurance and liability The FFSA, which should lead to a further deterioration of the profitability of insurers.

Impact on the accounts of French insurance in 2010 should still be "substantially mitigated by the effect of reinsurance," assured Mr. Penette. Once again, Mr. Spitz called for strengthening the policy to prevent natural hazards in France. He has proposed to bring together all available data on the subject, by crossing those departments, insurers and the Central Reinsurance Fund (JRC). "There is a mobilization of public actors to improve the prevention work," observed the President of the FFSA.