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Brussels wants a freeze on Pac and a tax "Tobin

Anxious to reflect the period of restraint without precedent throughout Europe, the European Commission would propose a freeze on Wednesday of the CAP and the creation of a tax on financial transactions.

The proposed budget for the period 2014-2020, also called "financial perspective", should be adopted in the day and will kick off two years of tough negotiations on a budget expected a slight increase to about 1,000 billion euros over the period.

The equation is difficult for the Commission, it must both support the policy priorities such as infrastructure networks and research with minimal impact to the Common Agricultural Policy (CAP) put forward by France, the cohesion funds promised new entrants from Eastern Europe and the "discount" on the British budget contribution.

According to European sources, the trade-offs made Tuesday night and Wednesday morning are to freeze the financial amounts allocated to the CAP at the level of 2013, a ceiling of 371.7 billion euros over the period.

Deindexed of inflation and a possible increase in EU funding, this budget would increase the share of the CAP in the total budget significantly below the 40% it currently accounts.

However, Brussels would set the table an additional EUR 15 billion in order to "mitigate" the trend and anticipate several challenges in the years to come.

Within this envelope, 2.5 billion euros will be available to combat price volatility, $ 3.5 billion in reserve in case of crises and will be 4.5 billion designed to improve productivity, especially in the face of future competition Mercosur.

Moreover, according to these sources, the "cheap" British would not challenged and the cohesion policy of financial transfers to the poorest regions of the EU would be relatively preserved.

Lines of credit for infrastructure projects in transport, telecommunications and energy and the fight against climate change and research should be revised upwards, says it again.

"The Commission is an ambitious everywhere except on the CAP", says one of the sources consulted.

TAX "TOBIN"

The Commission has decided to counter the opposition of member states to review the EU budget to rise by offering to finance about one third through the creation of a tax on financial transactions, commonly known as tax "Tobin" said to be of the same sources.

According to plans developed by the Office of the Commissioner of Taxation, Aldirgas Semeta, and validated by José Manuel Barroso, President of the Commission, the tax would raise about 50 billion euros per year, or 350 billion euros of by 2020.

This scenario is based on a minimum tax of 0.01% on trade in derivatives transactions are easily relocated in financial centers outside the EU, and a higher tax of up to 0.1% on the exchange of obligations sovereign.Transactions in currencies fall also within the scope of this tax.

Supported by France, Germany, Spain and many other countries as well as MEPs and a large majority of Europeans, however, this idea could face British opposition to see tax issues be coordinated Brussels.

The Commission should also propose to review Twenty-seven of the common tax base for VAT in order to identify some of the income derived from them nationally to redirect them to the EU budget, which would further reduce the direct contributions made each years by the States.

However, the idea of ​​earmarking a portion of the revenues of the European market for carbon rights (Emissions Trading Scheme), which represents some 90 billion euros per year, should not be finally adopted by the Commissioners.

Once submitted, these proposals will be negotiated between Member States and, for some, with the European Parliament.

The chairman of the Budget Committee of Parliament, Alain Lamassoure, argued Wednesday that the institution would seek to make this debate as democratic as possible by involving the European Parliament and the public.

Safran and Honeywell join forces in the aircraft taxiage

Safran and Honeywell Aerospace announced Sunday a joint venture equally in a new system taxiage greener aircraft from the gateway to the runway, designed to save companies up to 4% fuel consumption .

This new system of "green taxiing," which will be available from 2016, represents a market of five billion dollars over the next 15 years, said the two groups at a news conference.

It is aimed primarily at short and medium haul aircraft like the Airbus A320 or the Boeing B737, where the fuel consumption during this phase of rolling along the tarmac is the largest in proportion to the total time of flight compared the long haul.

"With the system of 'green taxiing' Electric and Honeywell (…), Safran will allow airlines to save hundreds of thousands of dollars per aircraft per year," said Tim Mahoney, CEO of Honeywell Aerospace in a joint press conference.

The principle of "green taxiing" is to stop using the motors to push the aircraft towards the runway, but to place a small electric motor in the wheels.

The rising price of kerosene, the main cost item for airlines with personnel costs, prompted the International Air Transport Association (IATA) to halve the last week its forecast for profit for the entire airline industry in 2011 to four billion dollars.

VERY INTENSE ACTIVITY LEVEL

Jean-Paul Herteman, CEO of Safran said addressing the Paris Air Show, which starts Monday, with "very good prospects."

"The activity level is still very strong even though the aircraft manufacturers' order books are full of four or more years," he noted, adding that it had doubled its turnover in the spare parts 2020.

Safran's joint venture with General Electric, CFM International, said on Saturday expect strong demand for aircraft for the next 20 years, while worrying about the pressure on the prices of raw materials whose prices reach record highs.

CFM delivered in late May-56 22,000 CFM, the world's best selling, with a target of 30,000 by 2020.His successor, Leap, the first Chinese customer for its Comac C-919, is one of the drivers selected by Airbus for A320neo, the enhanced version of its flagship single-aisle, and is available to Boeing for possible new version of its 737 or a new aircraft.

Jean-Paul Herteman also expressed confidence in the realization of his imminent takeover of the U.S. L-1, the shareholders of the specialist security solutions approved in February, saying just wait for the completion of the recent regulatory approvals for United States.

Safran, which generates 80% of its turnover abroad, increases the acquisitions outside Europe, where two-thirds of its workforce and suppliers.

"Our customers pay us in dollars and it must be balanced as much as possible our net exposure to currency fluctuations, therefore foreign acquisitions help us meet those goals," he said.

Jean-Paul Herteman also confirmed to Reuters talk to Rolls-Royce to provide a common solution to the proposed engine drone Telemos developed by Dassault Aviation and BAE Systems, EADS Talarion competitor.

Berlin promises to restore honor of the Spanish cucumber

Germany will support a campaign to promote agricultural products in Spain to be wrongly accused of epidemic diarrhea whose balance sheet is mounted on Thursday killed 27 people. The Minister of the Andalusian agruculture Clara Aguilera eats a cucumber to demonstrate that they are not the cause of the deadly epidemic raging in Germany.

Spain said he obtained the promise of Berlin assistance to restore the lost honor of his vegetables, battered by the outbreak of diarrhea whose balance sheet is mounted on Thursday killed 27 people. "The German government agreed to try to restore the prestige of agricultural products tarnished by the crisis in Germany," said Spanish Minister for European Affairs Diego Lopez Garrido, during a press conference in Berlin on Thursday .Germany will support a campaign to promote agricultural products prepared by the Spanish government in Madrid, the Minister said after talks with his German counterpart, Werner Hoyer.

Mr. Hoyer has expressed "deep regret" after damage caused to Spanish farmers' early statements by attributing to cucumbers Spanish origin of the epidemic "caused by the bacteria," said Lopez Garrido, who went for the first time in Germany, since tensions emerged in May between the two countries. Health authorities in the Hanseatic city had said May 26 they found the bacteria causing the epidemic of cucumber imported from Spain. Later analysis had shown it was not the same bacterium.

Mr.Lopez Garrido has also suggested that the Spanish government in Berlin would not seek damages for his vegetables, but did not rule out that private farmers complain against Hamburg. He said it was "still insufficient" the proposal in Brussels to pay financial compensation to the tune of 210 million euros to the vegetable growers in the EU face a collapse in sales. To give the measure of "enormous damage" caused by the Spanish market gardeners mistake in Hamburg, the Minister recalled that Spain's leading exporter of fruits and vegetables of the European Union, flowing 25% of these products in Germany .

The hunt continues for the bacterium in Germany

The crisis of EHEC bacteria, whose stock rose Thursday, June 9 to 27 dead after two new deaths reported in Germany, also poisoned Russian-European relations.Moscow and the EU find themselves on Thursday and Friday in Nizhny Novgorod for a summit during which both sides will have to overcome their strife born of the embargo imposed by Moscow last week on the grounds of European vegetables bacterial risk. Lopez Garrido found this embargo "unjustified and disproportionate".

The hunt for the deadly bacteria continued in Germany. An announcement Wednesday by the city of Magdeburg, a hundred miles west of Berlin, the discovery of a cucumber carrying the germ in a trash of a family contaminated, has caused a little confusion. The Ministry of Health of the regional state, however, felt that this vegetable, two weeks old, "did not bring much new" in search of the origin of the infection. Nothing makes it possible to determine if the cucumber was the vector of the seed where it had been infected by other waste discarded by the family.

Since the epidemic began there nearly a fortnight, have successively been stigmatized as potential sources lettuce, tomatoes, cucumbers and sprouts an organic farm in northern Germany. This remains the prime suspect for investigators, two employees there fell ill before the outbreak from spreading.

Renault appoints Portuguese Carlos Tavares to the position of No. 2

Renault announced Monday the appointment of Carlos Tavares at number two position, replacing Patrick Pelata, forced to resign in April after a false case of industrial espionage.

The arrival of the Portuguese 53 years as Director General with responsibility for operations and balance the calamitous episode of Renault executives falsely accused of espionage.

Carlos Tavares returns in a group he knows well, having spent 23 years there before moving to its Japanese partner Nissan, which he led until the Americas.

He will assume his responsibilities gradually after that day and will come fully operational by 1 July, Renault said in a statement.

An avid sports cars, the professional engineer, aged 53, has held various management positions at Renault programs before moving to Nissan in 2004.

Nissan has announced that his side would succeed Colin Dodge.

Xavier Bertrand announced a further drop in unemployment

The Minister of Labour announced on Wednesday a drop in unemployment in April for the fourth consecutive month, without specifying numbers. Xavier Bertrand, in September 2010 in Biarritz at the UMP parliamentary days.

Labour Minister Xavier Bertrand said Wednesday on RTL that "unemployment will fall for the fourth consecutive month in April, official figures without giving job seekers to be announced in late afternoon. "The trend is downward. (…) This is good news," said the minister.

"We had not known it since the beginning of 2008, that is to say, before the crisis, and if you add the trend for youth employment which is good, the use of frames which improves, overtime resume (…), we realize that we are trying to draw a crisis, "he was still glad.The number of registered job seekers in April at job center will be officially known to 18h Wednesday.

Siemens ordered to pay 648 million euros Areva

Siemens said Thursday it had been condemned by a tribunal to pay 648 million euros to her former French partner Areva to have formed an alliance with Russia's Rosatom nuclear.

"According to the court's decision, Siemens has not completely fulfilled its contractual obligations to his former partner Areva," Siemens said in a statement.

"As a result, Siemens will pay 648 million euros Areva plus interest," the Bavarian group.

Siemens has announced its withdrawal in 2009, Areva NP and the subsequent sale of its 34% stake in that company to its French partner Areva.

But the conditions of separation have generated a dispute between two groups while German the same year entered into a partnership with Russia's Rosatom.

Areva had then initiated arbitration proceedings against Siemens. End of 2009, Areva announced that the proposed alliance between Siemens and Rosatom had been blocked to allow time to finish the mediation on the price of the output of the German Areva NP.

A price of 1.62 billion euros for the 34% stake was finally set in March by independent experts and then Areva bought the shares on the basis of Siemens.

But there was still an ongoing arbitration to determine if the discussions with Rosatom constituted a breach of shareholders agreement between Siemens and Areva.Hence the decision Thursday.

The amount of 648 million euros "corresponds to the full penalty provided for violation of provisions of the shareholders' agreement between Areva and Siemens in 2001, representing 40% of the value of the stake held by Siemens in Areva NP, "Areva said in a statement.

Last year, Siemens has launched a parallel action in asking the European Commission to cancel the non-compete clause which prevents him from being in competition with Areva for eight years.

Siemens earmark the amount payable in the accounts of its fiscal third quarter.

The Dow Jones lost 0.38%, Nasdaq 1.63% yield

The New York Stock Exchange ended down 0.38% Monday, the Dow Jones industrial yielding 30 points to 12548.22 47.45 points.

The S & P-500, wider, lost 8.30 points, or 0.62% at 1329.47 points.

The Nasdaq Composite fell on its side of 46.16 points (-1.63%) to 2782.31 points.

These data are likely to vary even slightly.

French growth will struggle to keep pace

The French economy is probably a good start in 2011 but could have difficulty maintaining a steady growth rate until the end of the year for lack of support that boosted business activity and household consumption first quarter.

The INSEE published Friday morning at 7:30 the first estimate of gross domestic product growth for January to March and 28 economists polled by Reuters expect an average increase of 0.6%, after +0.4% in the last three months last year.

This figure confirms the accelerating trend of slow but steady economic recovery.And some economists do not rule out even better performance in light of the latest statistics.

"When you look at the consumption of manufactured goods and industrial production in the first quarter, 0.6-0.7%, it is rather in the bottom of the forecast range," said Michel Martinez, chief economist at Societe France General."A figure of 0.8-0.9% is not really a surprise."

In fact, statistics and surveys published in recent weeks have confirmed the positive trend that was emerging from the month of January, thanks to the conjunction of several favorable factors.

Among them are the "delayed effect" of scrapping car, the rapid rebound in construction after the disruption caused by the cold and snow in November and December, or the historically high level of confidence entrepreneurs reflected by multiple investigations.

In the first three months of the year, industrial production rose 2.1% from the previous quarter, Insee said Tuesday.Household consumption of manufactured goods, it has risen 1.2%.

THE UNKNOWN OF INVESTMENT

These figures should however not forget that the month of March has already marked a beginning of a trend reversal: consumption fell by 0.7% and industrial output by 0.9%, reflecting both the return to normal in the automotive market and the impact of the earthquake in Japan on business activity.

Foreign trade, it should maintain its negative contribution to GDP, with a cumulative deficit of over 18 billion euros over three months and imports have increased more than two times faster than exports.

If it looks relatively good, the growth figure in the first quarter does not guarantee the continuation of the trend.

"The dynamics of consumption should be less buoyant," said Michel Martinez, citing the austerity budget, inflation and rising interest rates among the factors holding back household spending.Especially since neither job creation, always moderate, or rising wages do not seem able to bring their new support.

This partly explains the government offensive in recent weeks on the distribution of value, which should translate into hard cash for some four million employees covered by the now-famous premium on businesses with more than 50 employees that increase their dividends.

Soaring oil prices should also weigh further on growth in the second quarter than first forecast by INSEE.

"But the main question concerns the dynamics of future business investment," said economist of SG."If the investigations suggest a recovery in investment, the figures 'hard' does not show a change in trend. And the rate of corporate profit margins remain close to its lows."

The quarterly survey by INSEE on forecasts of industrial investment has shown that those planning to increase their investments by 15% this year after stagnating in 2010.

Wall Street opens down after three sessions of gains

Wall Street opened the session down, within the scope including Walt Disney, after posting gains in the last three sessions.

A few minutes after the start of trading, the Dow Jones yielded 0.35% to 12,715.18 points, the Standard & Poor's 500 index 0.32% to 1352.81 points and the Nasdaq Composite 2865.41 0.23% points.

As for values, Walt Disney fell by 4.8%.The group reported an increase in its sales expectations in the second quarter.

A reversal of the trend, Macy's jumped nearly 9% after posting a quarterly profit increase, while raising his estimates for earnings and revenues for 2011.

American International Group (AIG) and the U.S. Treasury announced they would sell for close to nine billion in AIG shares on the market. The title took AIG 1.28% at the opening.

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