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The WTO has ruled that some European financial aid granted to Airbus could be regarded as illegal subsidies and demanded the withdrawal of a portion of them within 90 days, according to a source close to an expert report .

Following this confidential report of a committee of the World Trade Organization made public Tuesday, the aid should theoretically disappear within three months are export subsidies, illegal in all cases, the source added.

Other grants, which, more generally, would undermine U.S. interests must also be removed but the WTO does not set a deadline for doing so, says the source.

This report of a thousand pages will not be released until weeks or months.A copy was sent to both parties involved.

But since the committee has not taken over the whole of American complaints, it is likely that the dispute between Airbus and Boeing is not close to being closed.

In any case, the opinion's expressed Airbus, who contends that 70% of complaints by the United States were rejected by the WTO.

"Airbus is convinced that this battle brought before the WTO (World Trade Organization) could take several more years," says the aircraft manufacturer."As with all trade disputes, resolution will be possible only through transatlantic negotiations.

PREVIOUS LITIGATION

Boeing welcomed the report of the WTO Committee, calling it "landmark decision and good news for employees of the aerospace sector in the United States who have faced decades of competition from Airbus heavily subsidized.

Grants are at the heart of the battle between the two aircraft manufacturers in the market of civil aviation, as estimated by the aerospace companies to 3.000 billion dollars (2.200 billion euros) over the next 20 years.

The United States accuses Airbus of getting a total of 205 billion dollars of soft loans and other aid from the France, Germany, Spain and the United Kingdom over two decades.

Thus, this dispute is by far the most important being that feed international trade.

The European Commission said it had no conclusions to be drawn immediately. "The contents of the report is confidential of course.One thing is certain: we must be careful not to draw hasty conclusions or to declare victory prematurely, "said John Clancy, spokesman for EU trade issues.

John Clancy added, as expected, we would have a clearer picture of the situation after the WTO has issued a progress report in the coming months, a contentious open this time by the EU against subsidies granted to Boeing.

The final resolution of the two procedures, which could still go through a negotiated settlement, will define the market rules of civil aviation, where Airbus and Boeing have order books totaling nearly 1,000 billion dollars in the years come.

The A350 OUTSIDE THE COUP

The Committee of Experts of the WTO had communicated to both parties a progress report in September. The report remained confidential for the most part, considered that the aid given by European governments to Airbus constitute export subsidies undue Had they said a source familiar conclusions.

However, according to source close to the report released Tuesday, the WTO panel ruled that such funding of future programs such as the Airbus A350 was outside the scope of its recent decisions, which implies that trade tensions with Boeing likely to last.

"The future financing of the A350 is in no way affected by the findings of the report submitted today," Airbus also reacted to this."Attempts by the United States to include the A350 in this complaint have been specifically rejected.

European and U.S. officials had given their own interpretation of the report before it is published.Washington said it proves that Airbus had violated the interests of American workers, while Airbus noted that the report was a step in a lengthy procedure.

The most likely outcome is that both sides will probably call each of their side, in two contentious open on both sides of the Atlantic, leading to procedures that could take years.

"Airbus and the EU member states now conduct a thorough analysis of the ruling in order to anticipate any possible review of the decision by the Appellate Body of WTO," Airbus said in its statement.

The gas price for individuals is expected to rise 9.5% on 1 April, Wednesday said a source familiar with the matter in accordance with the application of a new method for calculating their evolution. The Commission for Energy Regulation (CRE) is expected to meet Thursday to consider a proposal to this effect of GDF Suez, the source said, confirming a report in the daily Le Figaro. CRE Suez and GDF have declined comment.

Under the new rules for setting regulated rates, intended to make developments more predictable, the government sets an annual schedules determining the framework within which the price of natural gas. GDF Suez is then responsible for proposing increases or decreases in rates within this framework.CRE approves or rejects the proposal submitted by the private group through a binding opinion.

The role of the CRE is limited to verifying the correct application of the formula for calculating the cost of supply of GDF Suez, which takes into account the level of crude oil prices, oil and exchange rates. The proposed tariffs are regulated mainly by GDF Suez (ex-Gaz de France) but also by 16 local suppliers, such as Gaz de Grenoble, Energy Services Occitan, the Municipal Board of Réole, etc..

STMicroelectronics announced Wednesday that the federal district court in New York confirmed the arbitration in his favor in February 2009 against Credit Suisse for more than 431 million dollars (322 million) including interest.

The maker of semiconductors said this new court decision confirmed "the validity of an arbitration decision made unanimously in his favor by the FINRA (Financial Industry Regulatory Authority) in February 2009.

"The decision of the federal district court in New York rejected the motion of Credit Suisse to set aside the arbitration award, announced the Franco-Italian in a statement.

The U.S. court has "also given the right to request STMicroelectronics to obtain confirmation of the arbitration decision and order Credit Suisse to pay the company the balance of the amount due," says he.

Based on this decision, STMicro will receive about $ 354 million, which includes about 23 million dollars in interest to date, in addition to nearly 75 million received last December from the sale of a part of the obligations ARS (Auction Rate Securities).

Around 1135, under the STM, which was briefly stimulated by this information came around previous levels (2.09% to 7.05 euro).

STMicroelectronics has launched action against Credit Suisse for the reimbursement of the amount he deemed "unduly invested" in bonds risky ARS, contrary to his instructions.

The Franco-Italian chip, headquartered in Geneva, had given more than 450 million dollars to the Swiss institution with a mandate to invest the money in safe securities.

In February 2009, Credit Suisse had been sentenced by a New York court over $ 406 million dollars of electronic components for fraud.

According to the ruling last month, the money had been invested in the market for "subprime" and then lost.

This decision was highly anticipated because it could encourage other groups suffering from mismanagement to imitate STMicroelectronics.

Roche has also filed a complaint for the same reasons last October against Credit Suisse before a New York court.

The Swiss bank had invested 545 million dollars in securities to financial risk on behalf of pharmaceutical, despite her having asked to make investments safe.

Rising unemployment in France in February was weaker than in January, according to Economy Minister Christine Lagarde.

"In February it increased less than in January," she said on RMC and BFM TV a few hours of the publication of statistics.

"Unemployment will rise very slightly.I note a stabilization. "

In January, the number of jobseekers in category A had increased by 19,500 to 2,664,600, a monthly increase of 0.7%, while it remained stable in December.

By adding job seekers engaged in a Pool (Class B and C) was higher than 15,900 persons or 0.4%.

Figures for February will be published at 18:00 by the Ministry of Economy and employment center.

The number of jobseekers registered in category A increased 418,000 over the whole of 2009, an increase of 18.7% over the year.

Employment center expects a net reduction this year but the figure would further increase of 94,000, according to its forecast released Tuesday.

The number of unemployed in category A, ie actively seeking employment and engaging in any activity, then decrease of 38,000 in 2011.

The unemployment rate in the direction of the International Labor was 9.6% at the end of the fourth quarter of 2009 in metropolitan France and the center Employment sees 9.8% at end 2010, before a decline to 9.6% in 2011.

INSEE will announce Thursday its own forecasts for the unemployment rate.

List of values to follow Wednesday on Wall Street.

* ADOBE SYSTEMS. The software company announced Tuesday the results of the first quarter of its 2009-2010 fiscal year better than expected and also reported predictions of the second quarter exceeded expectations.

In meeting pre-market trading, the title leapt from 6.1 to 37.35 dollars after closing Tuesday at 35.22 dollars.

* LENNAR.The fifth U.S. real estate developer has significantly reduced its quarterly loss, and assured to be on track to return to profit this year.

The group based in Miami (Florida) recorded a loss of 4 cents per share for its fiscal first quarter, against a deficit of 98 cents per share, a year ago.

In exchange for pre-market title, which closed Wednesday at 17.06 dollars, advanced by 3.8%.

* GENERAL MILLS.The food group has published on Wednesday quarterly profit beat expectations, helped by sales of its new products such as Cheerios cereal Chocolate and attention paid to the company reducing its costs.

General Mills, which also produces the Yoplait yogurt, posted earnings per share (EPS) of 96 cents for its third fiscal quarter ended February 28, cons EPS of 85 cents a year earlier. Excluding this exceptional earnings were 97 cents, while analysts had forecast EPS of 93 cents.

Closing price: 73.57 dollars

* DELL.The world number three PC is a turnover of five billion dollars in China in 2010, said Wednesday its CEO Michael Dell.

Closing price: 15.22 dollars.

While the station had generated a profit of 575 million euros in 2008, she recorded for 2009 a net loss of 980 million. Explanations.

The economic crisis worsens the crisis of cargo

Last year, rail freight has made a negative operating margin of 337 million euros. The area subject to competition since 2006, was rolled in 2009 by the slowdown in trade, which affects large customers, such as automotive or steel. "But it's time that business is not flourishing," said Eric Falempin, general secretary of FOR Railwaymen. The causes are multiple. On the one hand, the group acknowledges that it focuses too much on its strategy the only passenger traffic at the expense of transporting goods.On the other hand, to compete and offer better rates, "the station offers its clients not to work with Fret SNCF but with its subsidiaries, or as Geodis UFLI! Accuses unionist. After should not s 'surprising that the turnover of the freight station down … "

Many plans (Veron, Marembaud, Nadal …) have succeeded in an attempt to revive the business. The latest one was presented in September by the SNCF. But the opinion of the union, it is precisely this kind of plan that participates in the destruction of cargo, since it leads by example "abandonment from 50 to 60% of car traffic alone. The government simultaneously announced a comprehensive plan for development of rail freight, with the key, 5 to 7 billion investment by 2020.But until that plan is bearing fruit, the deficit in the freight business has not stopped widening.

The travel industry no longer compensates

Unlike previous years, activity on passenger lines (Coral, TGV, Thalys, Eurostar) did not offset the discomfort of cargo in 2009. Its margin is down 27% to 1.15 billion euros. The TGV activity in particular, which had allowed the accounts of beneficiaries from 2003 to 2008, suffer in turn in 2009. "Hit by the crisis, businesses save on transportation. Executives only travel first class," says Eric Falempin. Management also mentioned the increase in tolls that the group must pay to Network rail of France (RFF) to run its TGV. In one year, they jumped 10.9%, while the number of trains has increased by only 1.9%.Between 2008 and 2013, the bill charges expected to increase by more than 900 million euros, according to Voices. Eric Falempin recalls that if the RFF and the increasing rates, it's because "when the split with the station in 1997, the RFF, which inherited the bulk of the debt that she must pay as it can. "

Nearly one billion of write-downs

In practice, the station must, as an issuer of debt securities in financial markets, presenting the accounts in IFRS, and this since 2007. These rules require that assets be valued at their value in use, ie the amount of cash flows expected from use of these assets. Now the group has depreciated to 245 million in infrastructure and 721 million euros of assets in the cargo, or one third of the locomotive fleet. Translation: The industrial tool is not able to generate profit.A message that does not like unions, who fear that justifies expedited freight subsidiary, seen as a first step towards privatization of the industry.

Furthermore, the timing of this operation "clean" balance sheet is not trivial, while the public company is preparing to compete. Indeed, the partial liberalization of international guidelines has been effective since December 2009. "In depreciating assets cargo to 0, it eliminates the future depreciation on the cost of locomotives, said Olivier Grivilliers, a partner at Crowe Horwath International. This is loaded 2009 with all the expected losses in the future to preserve the group's future results "..

In painting too dark a picture of the financial group, SNCF hopes that perhaps the state will give him a boost."After all, said Eric Falempin, the government has the final word on the toll increases of the RFF.