News – Business & Economi

The agreement on raising the U.S. debt ceiling was adopted Monday by the House of Representatives by 269 votes against 161 and will now be considered by the Senate.

The compromise negotiated in extremis by the Republicans and Democrats and announced Sunday evening by President Barack Obama plans to reduce the U.S. deficit of 2.400 billion in 10 years and should allow the world's largest economy to avoid being in default payment.

The Senate should vote to turn in the day Tuesday, the day the U.S. Treasury warned that it would no longer be able to pay bills unless an agreement.

Harry Reid, leader of the Democratic majority in the Senate, announced that the vote would take place at noon (1600 GMT).The text must obtain the votes of at least 60 of the 100 senators, he said.

If senators mimic representatives, the U.S. debt ceiling, currently set at 14,300 billion will be raised and the United States will escape a situation of default, which would have had any impact on the global economic system.

In the hours before the vote in the House, uncertainty still hangs over the attitude of the parliamentary basis, both right and left.

In the ranks of the Republican Party majority in the House of Representatives, elected officials close to the Tea Party had raised objections to the compromise negotiated over the weekend in Washington.

In the ranks of the Democratic Party, the left wing complained that the text does not provide immediate tax increases for the wealthiest households and corporations.

"We are very concerned that the text is to make all these cuts but does not include any contribution of the richest people of our country, no income. It's disconcerting," said Nancy Pelosi, Democratic minority leader of the House, before rallying in the final compromise.

Monday night, 174 Republicans voted in favor of the agreement, against 66 who opposed it. The group has divided Democrats, voting for 95 elected, 95 elected voting against.

The image tarnished the political class

With the vote of the representatives, a first hurdle has been crossed.But concerns remain about a possible deterioration in the sovereign rating of the United States, the Triple A allowing them to obtain financing at favorable rates.

If the world's largest economy was losing the "signature" would increase credit costs in the United States and threaten the fragile economic recovery, with implications for the global economy.

The compromise provides for drastic reductions in public spending over ten years but does not affect taxation.It also creates a bipartisan parliamentary committee responsible for defining the end of November a new plan to reduce the federal deficit.

The Congressional Budget Office (CBO), non-partisan, confirmed that the compromise would reduce the deficit of at least 2100 billion over ten years.

On a political level, hard to say who should win this long and tortuous process.

Barack Obama, who is running in a second term in November 2012, accepted cuts in public spending of a magnitude greater than what he wanted and will have to convince the electorate as he had left no other choice.

However, the Democratic president could garner points among moderate voters and "independent".

"This process was long and messy and, as with any compromise, the outcome is far from satisfactory," he said in a video message released by his campaign. "But he also launched an important debate on how we address the challenges that lie ahead."

Right, John Boehner, the chairman of the House of Representatives, won the cuts he sought and avoided an immediate increase in taxes. But it could emerge from this crisis with a tarnished image, that of a leader under the influence of too sharp Tea Party, the conservative movement that has developed in recent years on the fringes of the Republican Party.

"The process works.It may be ugly, but it works, "Boehner said after the vote.

Finally, the American political establishment as a whole could suffer from these weeks of negotiations, that public opinion could be interpreted as political maneuvering at a time when Washington expects it effective remedies to boost growth and reduce unemployment, which remains at over 9% of the workforce.

"The real loser in this exercise is Washington," said Scott Reed, Republican elections.

CFM, a joint venture between General Electric and Safran specializes in aircraft engines, said Thursday it earned $ 11 billion in orders for its engines LEAP-X1A, which will equip the Airbus A320neo.

This aircraft will enter service in 2015, has by far been the best-selling model during the Paris Air Show.

Earlier in the day, CFM said to have accumulated during the show $ 4.2 billion of orders for its CFM56-5B and CFM56-7B engines, which power the A320, respectively, and the Boeing 737.

Around 16:30, the title Safran lost 0.81% to 28.86, outperforming the SBF 120 (-2.22%) and industrials index grouping the European

(-1.62%).

The A400M, the future military transport aircraft developed by Airbus, has suffered another setback as it will remain grounded for most of the Paris Air Show, for its first appearance in the first air show world.

The aircraft suffered a problem with one of its reactor just days before the show, participate in the parade of the Patrouille de France on Monday but then will not make any flight demonstration.Spectators will see the ground, said the Airbus management.

"This is not a security issue, but flight tests are very demanding right now," said the head of the military division of Airbus, Domingo Urena-Raso.

Airbus did not provide estimates of the cost or delay caused by this problem, but she assured that it was being resolved. The company has not changed its objective of a first aircraft delivery in early 2013.

The A400M has been developed by France, Belgium, Britain, Germany, Luxembourg, Spain and Turkey at a cost of more than 20 billion euros.The project has already been delayed for four years and he was saved with an extension of 3.5 billion euros from the contributing countries last year.

The aircraft flew in December 2009, Airbus hopes to sell half a thousand.

Approximately 340,000 spectators and participants are expected at the Paris Air Show June 20 to 26

This new setback could also threaten the presentation of the device at an upcoming air show scheduled for July in Britain, in which should be unveiled its official name: Atlas.

This name was chosen to symbolize the endurance of the aircraft by reference to Greek mythology the Titan condemned by Zeus to support the world.Atlas including attempted to transfer the burden to Heracles in vain during the episode of the golden apples of the Hesperides.

Hercules, the Latin double of Heracles, is the official name of the main competitor of the A400M, the C-130 Lockheed Martin.

Intense negotiations are underway to find a solution for involving private creditors in a new plan of aid to Greece without triggering a default, said Monday Jean-Claude Juncker.

The chairman of the Eurogroup, speaking before the Committee on Economic and Monetary Affairs of the European Parliament in Strasbourg has also warned that privatization does not solve all the problems of Greece and a political consensus was more necessary than ever in the country.

"With the ECB, we are working on a formula that does not involve a final determination and negative by the rating agencies and that does not involve the finding of a defect," said Luxembourg Prime Minister.

"These solutions are under consideration.The negotiations are difficult and burning, "he continued.

The European Commissioner for Economic and Monetary Affairs, Olli Rehn, said that this solution would be found in time to June 20

The rating agency Fitch said Monday it would consider an exchange of debt, even voluntary, as a credit event.

A credit event could enforce payment of insurance instruments such as CDSs, an event potentially serious consequences that oppose the European Central Bank and many countries.

Greece will probably in July a new tranche of aid from its international donors, enabling it to avoid default, in exchange for a new package of austerity measures.

ATHENS BUDGET ON TRACK

After considering for a whole month implementation by Greece of the first rescue plan 110 billion euros decided in May 2010, inspectors for the Commission, the International Monetary Fund and the European Central Bank said Friday that Greece had made considerable progress but need to accelerate structural reforms.

The Greek Finance Minister George Papaconstantinou said that Athens would be unable to meet its obligations from mid-July if the government did not get the next tranche of 12 billion euros as part of bailout EU and IMF, which was originally scheduled to be released June 29

According to the Greek newspaper Kathimerini, the new rescue plan for three years for Greece, which will therefore go up to 2014 will amount to 85 billion euros, slightly less than half will be provided by the EU and IMF.

As Jean-Claude Trichet, president of the European Central Bank (ECB) Jean-Claude Juncker said Monday that Athens had made progress in implementing its program of fiscal adjustment.

"The Greek government is on track to meet its budgetary targets for 2011," he told MEPs, while preventing the privatization program of 50 billion advanced by the Greek authorities would not solve all the problems of countries.

Jean-Claude Trichet said that the use of a debt restructuring Greek – solution that many analysts consider inevitable – is not appropriate as the country maintains its reform program announced, including urging Athens to conduct a privatization process credible and rigorous.

Jean-Claude Juncker and Olli Rehn also again called on the Greek political forces to reach a broad consensus on new austerity measures.

"If this is possible in Ireland or Portugal, why it would not be in Greece?" Asked Olli Rehn.

Prime Minister George Papandreou said he would not rule to consider holding a referendum on those measures.

Boeing is facing financial difficulties as part of its program to build the 787 Dreamliner, said Thursday Chief Executive Jim McNerney.

He added that the production of this device would not be profitable for some time, without revealing a timetable.

The budget for this unit was in fact far exceeded and the delivery was delayed for about three years due to social conflicts and false notes in the global supply chain.

The company expects, however, deliver its first aircraft 787 in the third quarter. About 830 orders were received for this device.

The title of Boeing advanced 0.41% to 1630 GMT.

With GDP up 1.5% in the first quarter, Germany has erased the crisis and returns to its levels of GDP in early 2008. She did better than its main European partners.

Gross Domestic Product (GDP) in Germany rose by 1.5% in the first quarter, an increase well above the expectations reflecting strong momentum in domestic demand and catch-up effect.

The growth in fourth quarter 2010 (0.4%) had been hampered by the weather, which "had a positive impact on first quarter 2011," said in a statement the Federal Office of Statistics, which published this figure seasonally adjusted.

While relying on a good start to the year, analysts were not nearly as optimistic. Those surveyed by Dow Jones Newswires had forecast a GDP increase of 0.9% only.

In the first quarter of Europe's largest economy in good shape, has returned to its level of early 2008, before the crisis in financial markets and economy, says the Office. There are less than two years, politicians and economists do not see Germany return to its pre-crisis level until 2013. The country continues to outperform its main European partners. Growth was 1% in France in the quarter, to 0.5% only in the United Kingdom.

Obviously the dynamic of 2010, when growth was 3.6%, placing Germany in the European leaders, continues despite the increased risks on the international scene, the crisis debt in the euro zone to the disaster Japanese through fluctuations in commodity prices.However, Germany has managed to make its economy less dependent on these factors by reducing its dependence on foreign trade. Between January and March, "the positive impulses came primarily from domestic demand," said Office, and particularly business investment in equipment and in construction.

After the strong first quarter, the official forecast of growth of government for this year (2.6%) appears prudent. More and more economists believe growth of 3% or more this year.

Industrial production fell unexpectedly in March against the euro area, mainly because of reduced production of capital goods and production of energy and consumables.

According to data released Thursday by Eurostat, industrial production fell 0.2% in March compared with February. In one year, the increase is 5.3%.

Economists had expected an average of respectively +0.3% and +6.2%.

Shortly before, the British Office for National Statistics has reported an increase well below the expectations of industrial production in Great Britain for the same month of March.

It came out in 0.3% increase – after declining 1.2% in February – against a consensus of +0.8%.

Faced with setbacks in recent months of hearing, TF1 decided to reorganize its management program and give it to Jean-François Lancelier which thus takes some of the functions previously occupied by Laurent Storch.

Already responsible for the antennas of the group, Jean-François Lancelier deal more programs and those of TF1 and TMC NT1, two channels of digital terrestrial television (DTT), said a Reuters spokesman, confirming information reported by several newspapers.

Laurent Storch, who led until then programs the only channel TF1, remains highly placed in the organization and will be responsible for the development of French fiction (TF1 Production), film (TF1 Films Production) and broadcasting rights, has she added.

The first group of private television in France recently been marked by the premature termination of "Square Viiip.Controversial, the reality TV show was stopped in late March after two weeks because of poor performance against meaningful hearing.

The chain has suffered a new setback last week as far outdistanced by the utility in connection with the retransmission of the marriage of Prince William and Catherine Middletown in London, a "big event" that usually does the success of the first chain.

CONCERN FOR THE ADVERTISING REVENUE

According to the latest figures released by Médiamétrie, the TF1's audience share fell to 23.5% during the week of April 25 to May 1, against 24.5% on average in 2010.

At the general meeting of the group in mid-April, Nonce Paolini had hearing difficulties in perspective, considering that the group was "quite fit despite a particular episode.

However, he indicated that TF1 "working hard" to change his newspaper from 20:00 suffering from competition from entertainment offered at the same time by competing chains including "Plus belle la vie" on France 3 and more recently " Scenes from "on M6.

Difficulties hearing the chain there is some concern among analysts who question the group's ability to raise its advertising rates.

On 14 April the group issued a statement in the evening to announce an increase of about 2% of its gross rates in the second half of April when the title came tumbling down over 4% at the Bourse of Paris after news reports indicating a downward revision.

Since the beginning of the action TF1 dropped 3.2% while its main rival M6 was down 1.8% at the same time.

The television group will publish next Thursday its sales for the first quarter.

Nasdaq OMX Group and IntercontinentalExchange officially launched Monday a hostile bid of $ 11.1 billion on NYSE Euronext.

Nasdaq and Ice chose to go directly to the shareholders of the Big Board.

This decision was expected after the board has twice rejected the advances of both groups favor an offer from the German operator Deutsche Boerse to 10.3 billion.

"The launch of this offer should convince the board of directors of NYSE that our intentions are serious," he said in a statement Robert Greifeld, CEO of Nasdaq OMX.

Before an audience of investors NYSE, Chairman of the Board Jan-Michiel Hessels had Thursday called the Nasdaq OMX offers an "illusory".

"We think (Nasdaq OMX and Ice) will not obtain the necessary approval and we believe that their offer is a strategy to hinder (our merger)," he said.

NYSE, which manages the Paris Bourse, also highlighted a disagreement on the long-term strategy of Nasdaq OMX and Ice.

Around 19:00 GMT, NYSE advancing 1.19% to 40.53 dollars. Nasdaq's action, including the listing has been temporarily suspended at the time of the announcement, then retreated by 0.15% to 27.08 dollars while the S & P 500 was changing down 0.12% simultaneously.

The Swedish automaker Saab, whose production is stopped for lack of cash, plans to continue its discussions this week on its refinancing plan, some worry that its requirements are too costly in the long term.

Saab, bought in 2010 by the sports car maker Spyker has received a "yes" conditional on the part of the European Investment Bank (EIB) in a project directed at ensuring liquidity, but the car held Saturday "severe" conditions posed by the institution.

"We do everything we can to get there and get funding.There are lots of discussions with various parties and shareholders and will continue this week, "said a spokesman for Saab.

While its turnover in 2010 was inferior to expectations, the group is short of cash and ceased production for over two weeks. The Swedish government has just approved a refinancing plan that has yet to be endorsed by the EIB.

Under the plan, the Russian financial Vladimir Antonov should buy the Saab plant and other assets of the estate builder and hire him.Vladimir Antonov wants to eventually become a shareholder in Saab.

The manufacturer hopes that the Bank gives go-ahead, but some fear that Saab is not able to fulfill the conditions imposed by the bank in a draft.

Lars Carlstrom, representative of Vladimir Antonov Sweden, said that one condition was that Saab reimburse funds already borrowed from the Bank within 90 days after the establishment of the refinancing plan.

"Saab can not cope," he told Reuters. "If we comply with the conditions of the EIB, we put the key under the door.It's a ridiculous letter, ridicule from the EIB, which completely destroyed the activity of Saab. "

Saab needs the agreement of the Swedish government and the Bank since the bank has loaned 400 million euros, Stockholm has guaranteed.

The EIB could not be reached for comment Monday.